Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 31, 2016 | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 23,156,969 | |
Nonvoting Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 7,958,000 | |
Entity Registrant Name | PORTER BANCORP, INC. | |
Entity Central Index Key | 1,358,356 | |
Trading Symbol | pbib | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Unaudited Consolidated Balance
Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Series E Preferred Stock [Member] | ||
Stockholders’ equity | ||
Preferred stock | $ 1,644 | $ 1,644 |
Series F Preferred Stock [Member] | ||
Stockholders’ equity | ||
Preferred stock | 1,127 | 1,127 |
Cash and due from banks | 6,266 | 8,006 |
Interest bearing deposits in banks | 57,578 | 85,329 |
Cash and cash equivalents | 63,844 | 93,335 |
Securities available for sale | 142,433 | 144,978 |
Securities held to maturity (fair value of $44,815 and $44,253, respectively) | 41,883 | 42,075 |
Loans held for sale | 134 | 186 |
Loans, net of allowance of $9,489 and $12,041, respectively | 612,208 | 606,625 |
Premises and equipment, net | 18,481 | 18,812 |
Other real estate owned | 7,098 | 19,214 |
Federal Home Loan Bank stock | 7,323 | 7,323 |
Bank owned life insurance | 14,741 | 9,441 |
Accrued interest receivable and other assets | 7,135 | 6,733 |
Total assets | 915,280 | 948,722 |
Non-interest bearing | 119,005 | 120,043 |
Interest bearing | 717,939 | 757,954 |
Total deposits | 836,944 | 877,997 |
Federal Home Loan Bank advances | 2,619 | 3,081 |
Accrued interest payable and other liabilities | 7,721 | 10,577 |
Subordinated capital note | 3,375 | 4,050 |
Junior subordinated debentures | 21,000 | 21,000 |
Total liabilities | 871,659 | 916,705 |
Preferred stock | 2,771 | 2,771 |
Common stock, no par, 86,000,000 shares authorized, 23,156,969 and 20,089,533 voting, and 7,958,000 and 6,858,000 non-voting shares issued and outstanding, respectively | 125,729 | 120,699 |
Additional paid-in capital | 23,969 | 23,654 |
Retained deficit | (106,923) | (110,808) |
Accumulated other comprehensive loss | (1,925) | (4,299) |
Total common stockholders’ equity | 40,850 | 29,246 |
Total stockholders' equity | 43,621 | 32,017 |
Total liabilities and stockholders’ equity | $ 915,280 | $ 948,722 |
Unaudited Consolidated Balance3
Unaudited Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Series E Preferred Stock [Member] | ||
Preferred stock, issued (in shares) | 6,198 | 6,198 |
Preferred stock, outstanding (in shares) | 6,198 | 6,198 |
Preferred stock, liquidation preference | $ 6,200 | $ 6,200 |
Preferred stock, no par (in dollars per share) | $ 0 | $ 0 |
Series F Preferred Stock [Member] | ||
Preferred stock, issued (in shares) | 4,304 | 4,304 |
Preferred stock, outstanding (in shares) | 4,304 | 4,304 |
Preferred stock, liquidation preference | $ 4,300 | $ 4,300 |
Preferred stock, no par (in dollars per share) | $ 0 | $ 0 |
Voting Common Stock [Member] | ||
Common stock, shares issued (in shares) | 23,156,969 | 20,089,533 |
Common stock, shares outstanding (in shares) | 23,156,969 | 20,089,533 |
Nonvoting Common Stock [Member] | ||
Common stock, shares issued (in shares) | 7,958,000 | 6,858,000 |
Common stock, shares outstanding (in shares) | 7,958,000 | 6,858,000 |
Securities held to maturity, fair value | $ 44,815 | $ 44,253 |
Loans, allowance | $ 9,489 | $ 12,041 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 86,000,000 | 86,000,000 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest income | ||||
Loans, including fees | $ 7,699,000 | $ 7,895,000 | $ 23,036,000 | $ 23,496,000 |
Taxable securities | 956,000 | 986,000 | 2,895,000 | 3,122,000 |
Tax exempt securities | 153,000 | 187,000 | 475,000 | 580,000 |
Fed funds sold and other | 123,000 | 111,000 | 415,000 | 351,000 |
8,931,000 | 9,179,000 | 26,821,000 | 27,549,000 | |
Interest expense | ||||
Deposits | 1,262,000 | 1,476,000 | 3,850,000 | 4,775,000 |
Federal Home Loan Bank advances | 17,000 | 23,000 | 54,000 | 74,000 |
Subordinated capital note | 35,000 | 40,000 | 112,000 | 123,000 |
Junior subordinated debentures | 159,000 | 158,000 | 500,000 | 465,000 |
Federal funds purchased and other | 1,000 | |||
1,473,000 | 1,697,000 | 4,516,000 | 5,438,000 | |
Net interest income | 7,458,000 | 7,482,000 | 22,305,000 | 22,111,000 |
Provision (negative provision) for loan losses | (750,000) | (2,200,000) | (1,900,000) | (2,200,000) |
Net interest income after provision (negative provision) for loan losses | 8,208,000 | 9,682,000 | 24,205,000 | 24,311,000 |
Non-interest income | ||||
Service charges on deposit accounts | 520,000 | 492,000 | 1,422,000 | 1,376,000 |
Bank card interchange fees | 214,000 | 212,000 | 637,000 | 644,000 |
Other real estate owned rental income | 46,000 | 380,000 | 451,000 | 1,109,000 |
Bank owned life insurance income | 101,000 | 65,000 | 316,000 | 229,000 |
Net gain (loss) on sales of securities, net | (16,000) | 187,000 | 1,696,000 | |
Gain on extinguishment of junior subordinated debt | 883,000 | 883,000 | ||
Other | 240,000 | 178,000 | 635,000 | 534,000 |
1,105,000 | 2,210,000 | 3,648,000 | 6,471,000 | |
Non-interest expense | ||||
Salaries and employee benefits | 3,945,000 | 3,920,000 | 11,624,000 | 11,795,000 |
Occupancy and equipment | 842,000 | 815,000 | 2,504,000 | 2,513,000 |
Professional fees | 374,000 | 620,000 | 1,251,000 | 2,313,000 |
FDIC Insurance | 442,000 | 539,000 | 1,458,000 | 1,673,000 |
Data processing expense | 295,000 | 278,000 | 887,000 | 860,000 |
State franchise and deposit tax | 255,000 | 285,000 | 765,000 | 855,000 |
Other real estate owned expense | 322,000 | 5,131,000 | 1,284,000 | 8,796,000 |
Loan collection expense | 222,000 | 321,000 | 575,000 | 895,000 |
Other | 1,223,000 | 1,059,000 | 3,599,000 | 3,694,000 |
7,920,000 | 12,968,000 | 23,947,000 | 33,394,000 | |
Income (loss) before income taxes | 1,393,000 | (1,076,000) | 3,906,000 | (2,612,000) |
Income tax expense | 21,000 | |||
Net income (loss) | 1,393,000 | (1,076,000) | 3,885,000 | (2,612,000) |
Earnings (loss) allocated to participating securities | 46,000 | (45,000) | 129,000 | (338,000) |
Net income (loss) available to common shareholders | $ 1,347,000 | $ (1,031,000) | $ 3,756,000 | $ (2,274,000) |
Basic and diluted income (loss) per common share (in dollars per share) | $ 0.04 | $ (0.04) | $ 0.13 | $ (0.10) |
Unaudited Consolidated Stateme5
Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net income (loss) | $ 1,393 | $ (1,076) | $ 3,885 | $ (2,612) |
Other comprehensive income (loss): | ||||
Unrealized gain arising during the period | 597 | 1,227 | 2,465 | 794 |
Amortization during the period of net unrealized loss transferred to held to maturity | 32 | 33 | 96 | 97 |
Reclassification adjustment for losses (gains) included in net income | 16 | (187) | (1,696) | |
Net unrealized gain (loss) recognized in comprehensive income | 645 | 1,260 | 2,374 | (805) |
Tax effect | ||||
Other comprehensive income (loss) | 645 | 1,260 | 2,374 | (805) |
Comprehensive income (loss) | $ 2,038 | $ 184 | $ 6,259 | $ (3,417) |
Unaudited Consolidated Stateme6
Unaudited Consolidated Statements of Changes in Stockholders' Equity - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands | Common Stock [Member]Voting Common Stock [Member] | Common Stock [Member]Nonvoting Common Stock [Member] | Common 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 (in shares) at Dec. 31, 2015 | 20,089,533 | 6,858,000 | 26,947,533 | 6,198 | 4,304 | ||||
Balances at Dec. 31, 2015 | $ 120,699 | $ 1,644 | $ 1,127 | $ 23,654 | $ (110,808) | $ (4,299) | $ 32,017 | ||
Forfeited unvested stock (in shares) | (9,854) | (9,854) | |||||||
Stock-based compensation expense | 315 | 315 | |||||||
Net income (loss) | 3,885 | 3,885 | |||||||
Net change in accumulated other comprehensive income, net of taxes | 2,374 | 2,374 | |||||||
Issuance of stock (in shares) | 2,900,000 | 1,100,000 | 4,000,000 | ||||||
Issuance of stock | $ 5,030 | 5,030 | |||||||
Balances (in shares) at Sep. 30, 2016 | 23,156,969 | 7,958,000 | 31,114,969 | 6,198 | 4,304 | ||||
Balances at Sep. 30, 2016 | $ 125,729 | $ 1,644 | $ 1,127 | $ 23,969 | $ (106,923) | $ (1,925) | $ 43,621 |
Unaudited Consolidated Stateme7
Unaudited Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities | ||||||
Net income (loss) | $ 1,393,000 | $ (1,076,000) | $ 3,885,000 | $ (2,612,000) | $ (3,200,000) | $ (11,200,000) |
Adjustments to reconcile net income (loss) to net cash from operating activities | ||||||
Depreciation and amortization | 1,141,000 | 1,201,000 | ||||
Provision (negative provision) for loan losses | (750,000) | (2,200,000) | (1,900,000) | (2,200,000) | ||
Net amortization on securities | 965,000 | 1,084,000 | ||||
Stock-based compensation expense | 148,000 | 132,000 | 315,000 | 313,000 | ||
Gain on extinguishment of junior subordinated debt | (883,000) | (883,000) | ||||
Net loss (gain) on sales of loans held for sale | (61,000) | 216,000 | ||||
Loans originated for sale | (3,830,000) | (5,290,000) | ||||
Proceeds from sales of loans held for sale | (3,943,000) | (5,289,000) | ||||
Net gain on sales of other real estate owned | (52,000) | 16,000 | (221,000) | (27,000) | ||
Write-down of other real estate owned | 970,000 | 7,080,000 | ||||
Net realized gain on sales of available for sale securities | 16,000 | (187,000) | (1,696,000) | |||
Earnings on bank owned life insurance, net of premium expense | (300,000) | (214,000) | ||||
Net change in accrued interest receivable and other assets | (701,000) | 893,000 | ||||
Net change in accrued interest payable and other liabilities | (57,000) | 939,000 | ||||
Net cash from operating activities | 3,962,000 | 4,093,000 | ||||
Cash flows from investing activities | ||||||
Purchases of available for sale securities | (18,868,000) | (16,800,000) | ||||
Sales and calls of available for sale securities | 2,555,000 | 230,000 | 6,276,000 | 44,340,000 | ||
Maturities and prepayments of available for sale securities | 16,925,000 | 16,408,000 | ||||
Proceeds from sale of other real estate owned | 12,340,000 | 14,417,000 | ||||
Proceeds from sales of loans not originated for sale | 8,640,000 | |||||
Loan originations and payments, net | (4,781,000) | (7,029,000) | ||||
Purchases of premises and equipment, net | (386,000) | (308,000) | ||||
Purchase of bank owned life insurance | (5,000,000) | |||||
Net cash from investing activities | 6,506,000 | 59,668,000 | ||||
Cash flows from financing activities | ||||||
Net change in deposits | (41,053,000) | (48,948,000) | ||||
Net change in repurchase agreements | (1,341,000) | |||||
Repayment of Federal Home Loan Bank advances | (462,000) | (17,497,000) | ||||
Advances from Federal Home Loan Bank | 5,000,000 | |||||
Repayment of subordinated capital note | (675,000) | (675,000) | ||||
Issuance of common stock | 2,231,000 | |||||
Net cash from financing activities | (39,959,000) | (63,461,000) | ||||
Net change in cash and cash equivalents | (29,491,000) | 300,000 | ||||
Beginning cash and cash equivalents | 93,335,000 | 80,180,000 | 80,180,000 | |||
Ending cash and cash equivalents | $ 63,844,000 | $ 80,480,000 | 63,844,000 | 80,480,000 | $ 93,335,000 | $ 80,180,000 |
Supplemental cash flow information: | ||||||
Interest paid | 3,933,000 | 5,523,000 | ||||
Income taxes paid | 21,000 | |||||
Supplemental non-cash disclosure: | ||||||
Proceeds from common stock issuance directed by investors to pay junior subordinated debt interest | 2,799,000 | |||||
Transfer from loans to other real estate | 1,243,000 | 4,450,000 | ||||
Financed sales of other real estate owned | 270,000 | |||||
Effect of junior subordinated debt to equity exchange | $ 4,330,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 – Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the entire year. A description of other significant accounting policies is presented in the notes to the Consolidated Financial Statements for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K. Use of Estimates – To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and future results could differ. Reclassifications Adoption of New Accounting Standards 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. In February 2016, the FASB issued an update ASU No. 2016-02, Leases (Topic 842). Under the new guidance, lessees will be required to recognize the following for all leases, with the exception of short-term leases, at the commencement date: a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting in largely unchanged. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2018. 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. In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments are intended to improve the accounting for employee share-based payments and affects all organizations that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment award transactions are simplified, including the income tax consequences, the classification of awards as either equity or liabilities, and the classification on the statement of cash flows. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2016. 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. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The final standard will change estimates for credit losses related to financial assets measured at amortized cost such as loans, held-to-maturity debt securities, and certain other contracts. For estimating credit losses, the FASB is replacing the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (CECL) model. The largest impact will be on the allowance for loan and lease losses. The standard is effective for public companies for fiscal years beginning after December 15, 2019. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. |
Note 2 - Going Concern Consider
Note 2 - Going Concern Considerations and Future Plans | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | Note 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 the Company’s annual report filed on Form 10K for the year ended December 31, 2015 created substantial doubt about the Company’s ability to continue as a going concern at December 31, 2015. Since December 31, 2015, the Company has made significant improvements in its operating results, improved its liquidity position through a capital raise, brought current interest payment obligations on its junior subordinated debt in 2016, reduced non-performing assets, and reduced contingent liability risk as discussed below. For the nine months ended September 30, 2016, we reported net income of $3.9 million compared with net loss of $3.2 million and $11.2 million for the years ended December 31, 2015 and 2014, respectively. Our financial performance has been negatively impacted by the Bank’s elevated level of non-performing assets, although the impact continues to diminish as we have substantially reduced non-performing assets during recent periods. Non-performing loans were 1.62%, 2.28%, and 7.57% of total loans at September 30, 2016, December 31, 2015, and December 31, 2014, respectively. Non-performing assets were 1.88%, 3.51%, and 9.19% of total assets at September 30, 2016, December 31, 2015, and December 31, 2014, respectively. See “Analysis of Financial Condition,” below. On April 15, 2016, we completed a private placement of 2.9 million common shares and 1.1 million non-voting common shares to accredited investors for a total purchase price of $5.0 million. The investors in the private placement directed a portion of the purchase price to pay all deferred interest payments on our trust preferred securities, bringing our interest payments current through the second quarter of 2016. We had deferred interest payable on the junior subordinated debentures held by our trust subsidiaries since the fourth quarter of 2011, requiring our trust subsidiaries to defer distributions on our trust preferred securities held by investors during that period. The remaining proceeds from the private placement totaled approximately $2.2 million and will be used for general corporate purposes and to support the Bank. On June 29, 2016, we notified the trustees of our election to again defer our interest payments effective with the third quarter 2016 payment. We have the ability to defer distributions on our trust preferred securities for 20 consecutive quarters or through the second quarter of 2021. After 20 consecutive quarters, we must pay all deferred distributions or we will be in default. We continue to be involved in various legal proceedings, which are more fully described in Note 13 – “Contingencies”. We are appealing a judgment against us that we believe, after conferring with our legal advisors, we have meritorious grounds on which to prevail. If we do not prevail, the ultimate outcome of this matter could have a material adverse effect on our financial condition, results of operations, or cash flows. PBI Bank is in compliance with each element of its Consent Order with the Federal Depository Insurance Corporation (“FDIC”) and the Kentucky Department of Financial Institutions (“KDFI”) other than the requirement that the Bank maintain a minimum Tier 1 leverage ratio of 9% and a minimum total risk based capital ratio of 12%. As of September 30, 2016, the Bank’s Tier 1 leverage ratio and total risk based capital ratio had improved to 6.97% and 11.18%, respectively, both less than the minimum capital ratios required by the Consent Order, but otherwise compliant with Basel III capital requirements. The Consent Order provides that if the Bank should be unable to reach the required capital levels, and if directed in writing by the FDIC, the Bank would be required 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 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, including through the issuance of senior debt, subordinated debt, or equity securities. ● 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 other real estate owned (“OREO”) and reinvesting the sale proceeds 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 the FDIC and the KDFI before declaring or paying any future dividends to the Company, which are its principal source of the Company’s revenue. Since the Bank is unlikely to be able to pay dividends to the Company until the Consent Order is satisfied, cash inflows for the Company are limited to the issuance of new debt or the issuance of capital securities. The Company’s liquid assets were $2.2 million as of September 30, 2016. 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 were the Company to become unable to continue as a going concern. |
Note 3 - Securities
Note 3 - Securities | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3 – Securities The fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) September 30, 201 6 Available for sale U.S. Government and federal agency $ 35,235 $ 509 $ (6 ) $ 35,738 Agency mortgage-backed: residential 99,225 2,288 (52 ) 101,461 State and municipal 2,153 45 — 2,198 Corporate bonds 3,066 38 (68 ) 3,036 Total available for sale $ 139,679 $ 2,880 $ (126 ) $ 142,433 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 41,883 $ 2,932 $ — $ 44,815 Total held to maturity $ 41,883 $ 2,932 $ — $ 44,815 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 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 Sales and calls of available for sale securities were as follows: Three Months Ended September 30, Nine Months Ended September 30, 201 6 201 5 201 6 201 5 (in thousands) (in thousands) Proceeds $ 2,555 $ 230 $ 6,276 $ 44,340 Gross gains 13 — 216 1,832 Gross losses 29 — 29 136 The amortized cost and fair value of the debt investment securities portfolio are shown by contractual maturity. Contractual maturities may differ from actual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities not due at a single maturity date are detailed separately. September 30, 201 6 Amortized Cost Fair Value (in thousands) Maturity Available for sale Within one year $ 6,628 $ 6,615 One to five years 7,120 7,266 Five to ten years 26,706 27,091 Agency mortgage-backed: residential 99,225 101,461 Total $ 139,679 $ 142,433 Held to maturity Within one year $ 646 653 One to five years 21,365 $ 22,469 Five to ten years 18,825 20,506 Beyond ten years 1,047 1,187 Total $ 41,883 $ 44,815 Securities pledged at September 30, 2016 and December 31, 2015 had carrying values of approximately $52.5 million and $68.0 million, respectively, and were pledged to secure public deposits. At September 30, 2016 and December 31, 2015, we held securities issued by the Commonwealth of Kentucky or municipalities in the Commonwealth of Kentucky having a book value of $16.5 million and $17.7 million, respectively. Additionally, at September 30, 2016 and December 31, 2015, we held securities issued by the State of Texas or municipalities in the State of Texas having a book value of $4.3 million at each period end. At September 30, 2016 and December 31, 2015, there were no other holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity. Securities with unrealized losses at September 30, 2016 and December 31, 2015, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, are as follows: Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (in thousands) September 30, 201 6 Available for sale U.S. Government and federal Agency $ 3,373 $ (6 ) $ — $ — $ 3,373 $ (6 ) Agency mortgage-backed: Residential 9,637 (52 ) — — 9,637 (52 ) Corporate bonds — — 1,497 (68 ) 1,497 (68 ) Total temporarily impaired $ 13,010 $ (58 ) $ 1,497 $ (68 ) $ 14,507 $ (126 ) December 31, 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 ) There were no held to maturity securities in an unrecognized loss position at September 30, 2016 or December 31, 2015. The Company evaluates securities for other than temporary impairment (OTTI) on a quarterly basis. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, underlying credit quality of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. In analyzing an issuer’s financial condition, the Company may consider whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, the sector or industry trends and cycles affecting the issuer, and the results of reviews of the issuer’s financial condition. Management currently intends to hold all securities with unrealized losses until recovery, which for fixed income securities may be at maturity. As of September 30, 2016, management does not believe securities within our portfolio with unrealized losses should be classified as other than temporarily impaired. |
Note 4 - Loans
Note 4 - Loans | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 – Loans Loans were as follows: September 30, December 31, 201 6 201 5 (in thousands) Commercial $ 85,000 $ 86,176 Commercial Real Estate: Construction 34,178 33,154 Farmland 83,320 76,412 Nonfarm nonresidential 138,351 140,570 Residential Real Estate: Multi-family 36,558 44,131 1-4 Family 192,008 201,478 Consumer 9,752 10,010 Agriculture 41,764 26,316 Other 766 419 Subtotal 621,697 618,666 Less: Allowance for loan losses (9,489 ) (12,041 ) Loans, net $ 612,208 $ 606,625 The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2016 and 2015: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2016: Beginning balance $ 730 $ 5,429 $ 3,778 $ 47 $ 119 $ 1 $ 10,104 Negative provision (195 ) (436 ) (142 ) (26 ) 79 (30 ) (750 ) Loans charged off (15 ) (232 ) (131 ) (21 ) (5 ) (1 ) (405 ) Recoveries 102 354 27 23 1 33 540 Ending balance $ 622 $ 5,115 $ 3,532 $ 23 $ 194 $ 3 $ 9,489 September 30, 2015: Beginning balance $ 1,946 $ 9,213 $ 5,060 $ 226 $ 359 $ 5 $ 16,809 Negative provision for loan losses (180 ) (1,334 ) (489 ) (73 ) (120 ) (4 ) (2,200 ) Loans charged off (201 ) (768 ) (486 ) (70 ) (41 ) (14 ) (1,580 ) Recoveries 5 905 144 98 2 15 1,169 Ending balance $ 1,570 $ 8,016 $ 4,229 $ 181 $ 200 $ 2 $ 14,198 The following table presents the activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2016 and 2015: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2016: Beginning balance $ 818 $ 6,993 $ 3,984 $ 122 $ 122 $ 2 $ 12,041 Negative provision (89 ) (2,024 ) 458 (259 ) (1 ) 15 (1,900 ) Loans charged off (276 ) (477 ) (1,181 ) (56 ) (13 ) (79 ) (2,082 ) Recoveries 169 623 271 216 86 65 1,430 Ending balance $ 622 $ 5,115 $ 3,532 $ 23 $ 194 $ 3 $ 9,489 September 30, 2015: Beginning balance $ 2,046 $ 10,931 $ 5,787 $ 274 $ 319 $ 7 $ 19,364 Negative provision for loan losses (207 ) (1,657 ) (269 ) (51 ) (13 ) (3 ) (2,200 ) Loans charged off (675 ) (2,361 ) (1,777 ) (200 ) (111 ) (47 ) (5,171 ) Recoveries 406 1,103 488 158 5 45 2,205 Ending balance $ 1,570 $ 8,016 $ 4,229 $ 181 $ 200 $ 2 $ 14,198 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of September 30, 2016: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Allowance for loa n losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ – $ 41 $ 297 $ – $ 1 $ – $ 339 Collectively evaluated for impairment 622 5,074 3,235 23 193 3 9,150 Total ending allowance balance $ 622 $ 5,115 $ 3,532 $ 23 $ 194 $ 3 $ 9,489 Loans: Loans individually evaluated for impairment $ 571 $ 6,568 $ 8,940 $ 1 $ 134 $ – $ 16,214 Loans collectively evaluated for impairment 84,429 249,281 219,626 9,751 41,630 766 605,483 Total ending loans balance $ 85,000 $ 255,849 $ 228,566 $ 9,752 $ 41,764 $ 766 $ 621,697 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 Impaired Loans Impaired loans include restructured loans and loans on nonaccrual or classified as doubtful, whereby collection of the total amount is improbable, or loss, whereby all or a portion of the loan has been written off or a specific allowance for loss has been provided. The following tables present information related to loans individually evaluated for impairment by class of loans as of September 30, 2016 and December 31, 2015 and for the three and nine months ended September 30, 2016 and 2015: As of September 30, 201 6 Three Months Ended September 30, 201 6 Nine Months Ended September 30, 201 6 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 784 $ 571 $ — $ 659 $ — $ 824 $ 1 Commercial real estate: Construction — — — 129 3 195 9 Farmland 6,040 4,216 — 4,404 79 4,299 87 Nonfarm nonresidential 4,669 1,354 — 4,023 2 5,569 308 Residential real estate: Multi-family 4,121 4,121 — 3,254 179 2,235 237 1-4 Family 4,185 3,086 — 3,523 14 6,159 85 Consumer 34 1 — 4 — 8 8 Agriculture 97 69 — 69 — 92 — Other — — — — — — — Subtotal 19,930 13,418 — 16,065 277 19,381 735 With An Allowance Recorded: Commercial — — — — — — — Commercial real estate: Construction — — — — — — — Farmland 614 595 6 600 — 300 — Nonfarm nonresidential 403 403 35 405 6 421 18 Residential real estate: Multi-family — — — 2,080 — 3,133 101 1-4 Family 2,179 1,733 297 1,656 20 1,671 74 Consumer — — — — — — — Agriculture 78 65 1 68 — 34 — Other — — — — — — — Subtotal 3,274 2,796 339 4,809 26 5,559 193 Total $ 23,204 $ 16,214 $ 339 $ 20,874 $ 303 $ 24,940 $ 928 As of December 31, 201 5 Three Months Ended September 30, 201 5 Nine Months Ended September 30, 201 5 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 1,558 $ 1,112 $ — $ 1,439 $ — $ 1,630 $ 5 Commercial real estate: Construction 278 262 — 833 3 2,426 11 Farmland 6,004 4,263 — 4,305 34 4,555 60 Nonfarm nonresidential 11,256 7,829 — 13,347 65 18,133 202 Residential real estate: Multi-family 32 32 — 33 — 37 — 1-4 Family 14,066 11,756 — 13,163 96 14,040 340 Consumer 118 20 — 23 — 25 — Agriculture 260 152 — 191 — 219 — Other — — — — 1 61 5 Subtotal 33,572 25,426 — 33,334 199 41,126 623 With An Allowance Recorded: -*--------- Commercial — — — 4 — 16 — Commercial real estate: Construction — — — — — — — Farmland — — — — — 79 — Nonfarm nonresidential 574 465 43 2,708 6 5,622 18 Residential real estate: Multi-family 4,195 4,195 57 4,216 51 4,237 153 1-4 Family 1,690 1,690 328 1,691 29 1,709 68 Consumer — — — — — 10 — Agriculture — — — — — — — Other — — — — — — — Subtotal 6,459 6,350 428 8,619 86 11,673 239 Total $ 40,031 $ 31,776 $ 428 $ 41,953 $ 285 $ 52,799 $ 862 Cash basis income recognized for the three and nine months ended September 30, 2016 was $87,000 and $377,000, respectively, compared to $47,000 and $149,000 for the three and nine months ended September 30, 2015. Troubled Debt Restructuring A troubled debt restructuring (TDR) occurs when the Company has agreed to a loan modification in the form of a concession for a borrower who is experiencing financial difficulty. The majority of the Company’s TDRs involve a reduction in interest rate, a deferral of principal for a stated period of time, or an interest only period. All TDRs are considered impaired and the Company has allocated reserves for these loans to reflect the present value of the concessionary terms granted to the borrower. The following table presents the types of TDR loan modifications by portfolio segment outstanding as of September 30, 2016 and December 31, 2015: TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) September 30, 2016 Commercial Rate reduction $ — $ 33 $ 33 Principal deferral — 439 439 Commercial Real Estate: Construction Rate reduction — — — Farmland Principal deferral — 2,300 2,300 Nonfarm nonresidential Rate reduction 610 — 610 Principal deferral — 607 607 Residential Real Estate: Multi-family Rate reduction 4,121 — 4,121 1-4 Family Rate reduction 1,383 — 1,383 Total TDRs $ 6,114 $ 3,379 $ 9,493 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 At September 30, 2016 and December 31, 2015, 64% and 83%, respectively, of the Company’s TDRs were performing according to their modified terms. The Company allocated $238,000 and $179,000 in reserves to borrowers whose loan terms have been modified in TDRs as of September 30, 2016, and December 31, 2015, respectively. The Company has committed to lend no additional amounts as of September 30, 2016 and December 31, 2015 to borrowers with outstanding loans classified as TDRs. Management periodically reviews renewals/modifications of previously identified TDRs, for which there was no principal forgiveness, to consider if it is appropriate to remove the TDR classification. If the borrower is no longer experiencing financial difficulty and the renewal/modification did not contain a concessionary interest rate or other concessionary terms, management considers the potential removal of the TDR classification. If deemed appropriate, the TDR classification is removed as the borrower has complied with the terms of the loan at the date of renewal/modification and there was a reasonable expectation that the borrower would continue to comply with the terms of the loan 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. As of September 30, 2016, the TDR classification was removed from one loan that met the requirements as discussed above. This loan totaled $5.0 million at December 31, 2015. This loan is no longer evaluated individually for impairment. No TDR loan modifications occurred during the three or nine months ended September 30, 2016 or September 30, 2015. During the first nine months of 2016 and 2015, no TDRs defaulted on their restructured loan within the 12 month period following the loan modification. A default is considered to have occurred once the TDR is past due 90 days or more or it has been placed on nonaccrual. Nonperforming Loans Nonperforming loans include impaired loans not on accrual and smaller balance homogeneous loans, such as residential mortgage and consumer loans, that are collectively evaluated for impairment. The following table presents the recorded investment in nonaccrual and loans past due 90 days and still on accrual by class of loan as of September 30, 2016, and December 31, 2015: Nonaccrual Loans Past Due 90 Days And Over Still Accruing September 30, 201 6 December 31, 201 5 September 30, 201 6 December 31, 201 5 (in thousands) Commercial $ 571 $ 1,112 $ — $ — Commercial Real Estate: Construction — — — — Farmland 4,811 4,263 — — Nonfarm nonresidential 1,147 2,657 — — Residential Real Estate: Multi-family — 32 — — 1-4 Family 3,435 5,851 — — Consumer 1 20 — — Agriculture 134 152 — — Other — — — — Total $ 10,099 $ 14,087 $ — $ — The following table presents the aging of the recorded investment in past due loans as of September 30, 2016 and December 31, 2015: 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) September 30, 2016 Commercial $ — $ — $ — $ 571 $ 571 Commercial Real Estate: Construction — — — — — Farmland 156 — — 4,811 4,967 Nonfarm nonresidential — — — 1,147 1,147 Residential Real Estate: Multi-family — — — — — 1-4 Family 2,087 270 — 3,435 5,792 Consumer 65 3 — 1 69 Agriculture 27 — — 134 161 Other — — — — — Total $ 2,335 $ 273 $ — $ 10,099 $ 12,707 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, 2015 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 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 regularly through our internal and external loan review processes. Borrower relationships in excess of $500,000 are routinely analyzed through our credit administration processes which classify the loans as to credit risk. The following definitions are used for risk ratings: Watch – Special Mention – Substandard – Doubtful Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be “Pass” rated loans. As of September 30, 2016, and December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Pass Watch Special Mention Substandard Doubtful Total (in thousands) September 30, 2016 Commercial $ 83,466 $ 525 $ — $ 1,009 $ — $ 85,000 Commercial Real Estate: Construction 28,881 5,211 — 86 — 34,178 Farmland 73,324 2,717 — 7,279 — 83,320 Nonfarm nonresidential 124,094 11,707 533 2,017 — 138,351 Residential Real Estate: Multi-family 28,218 4,485 — 3,855 — 36,558 1-4 Family 170,439 12,941 70 8,558 — 192,008 Consumer 9,274 399 — 79 — 9,752 Agriculture 32,613 8,064 — 1,087 — 41,764 Other 766 — — — — 766 Total $ 551,075 $ 46,049 $ 603 $ 23,970 $ — $ 621,697 Pass Watch Special Mention Substandard Doubtful Total (in thousands) December 31, 2015 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 |
Note 5 - Other Real Estate Owne
Note 5 - Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | Note 5 – Other Real Estate Owned Other real estate owned (OREO) is real estate acquired as a result of foreclosure or by deed in lieu of foreclosure. It is classified as real estate owned until such time as it is sold. When property is acquired as a result of foreclosure or by deed in lieu of foreclosure, it is recorded at its fair market value less cost to sell. Any write-down of the property at the time of acquisition is charged to the allowance for loan losses. Costs incurred in order to perfect the lien prior to foreclosure may be capitalized if the fair value less the cost to sell exceeds the balance of the loan at the time of transfer to OREO. Examples of eligible costs to be capitalized are payments of delinquent property taxes to clear tax liens or payments to contractors and subcontractors to clear mechanics’ liens. Subsequent reductions in fair value are recorded as non-interest expense. To determine the fair value of OREO for smaller dollar single family homes, we consult with internal real estate sales staff and external realtors, investors, and appraisers. If the internally evaluated market price is below our underlying investment in the property, appropriate write-downs are taken. For larger dollar residential and commercial real estate properties, we obtain a new appraisal of the subject property or have staff from our special assets group or in our centralized appraisal department evaluate the latest in-file appraisal in connection with the transfer to other real estate owned. We typically obtain updated appraisals within five quarters of the anniversary date of ownership unless a sale is imminent. The following table presents the major categories of OREO at the period-ends indicated: September 30, 201 6 December 31, 201 5 (in thousands) Commercial Real Estate: Construction, land development, and other land $ 6,781 $ 12,749 Nonfarm nonresidential 18 6,967 Residential Real Estate: 1-4 Family 299 128 7,098 19,844 Valuation allowance — (630 ) $ 7,098 $ 19,214 For the Three Months Ended September 30, For the Nine Months Ended September 30, 201 6 201 5 201 6 201 5 (in thousands) (in thousands) OREO Valuation Allowance Activity: Beginning balance $ 441 $ 307 $ 630 $ 1,066 Provision to allowance 320 4,450 970 7,080 Write-downs (761 ) (4,457 ) (1,600 ) (7,846 ) Ending balance $ — $ 300 $ — $ 300 Residential loans secured by 1-4 family residential properties in the process of foreclosure totaled $431,000 and $934,000 at September 30, 2016 and December 31, 2015, respectively. Net activity relating to other real estate owned during the nine months ended September 30, 2016 and 2015 is as follows: For the Nine Months Ended September 30, 201 6 201 5 (in thousands) OREO Activity OREO as of January 1 $ 19,214 $ 46,197 Real estate acquired 1,243 4,450 Valuation adjustment write-downs (970 ) (7,080 ) Net gain on sales 221 27 Proceeds from sale of properties (12,610 ) (14,417 ) OREO as of September 30 $ 7,098 $ 29,177 OREO rental income totaled $46,000 and $451,000 for the three and nine months ended September 30, 2016, respectively, and $380,000 and $1.1 million for the three and nine months ended September 30, 2015, respectively. Expenses related to other real estate owned include: Three Months Ended September 30, Nine Months Ended September 30, 201 6 201 5 201 6 201 5 (in thousands) (in thousands) Net (gain) loss on sales $ (52 ) $ 16 $ (221 ) $ (27 ) Provision to allowance 320 4,450 970 7,080 Operating expense 54 665 535 1,743 Total $ 322 $ 5,131 $ 1,284 $ 8,796 |
Note 6 - Deposits
Note 6 - Deposits | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 6 – Deposits The following table shows ending deposit balances by category as of: September 30, 201 6 December 31, 201 5 (in thousands) Non-interest bearing $ 119,005 $ 120,043 Interest checking 88,386 97,515 Money market 140,995 125,935 Savings 33,816 34,677 Certificates of deposit 454,742 499,827 Total $ 836,944 $ 877,997 Time deposits of $250,000 or more were $28.2 million and $28.4 million at September 30, 2016 and December 31, 2015, respectively. Scheduled maturities of all time deposits at September 30, 2016 were as follows (in thousands): Year 1 $ 293,430 Year 2 89,256 Year 3 21,352 Year 4 41,930 Year 5 8,774 $ 454,742 |
Note 7 - Advances From the Fede
Note 7 - Advances From the Federal Home Loan Bank | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note 7 – Advances from the Federal Home Loan Bank Advances from the Federal Home Loan Bank were as follows: September 30, December 31, 201 6 201 5 (in thousands) Monthly amortizing advances with fixed rates from 0.00% to 5.25% and maturities ranging from 2017 through 2033, averaging 2.42% at September 30, 2016 and 2.65% at December 31, 2015 $ 2,619 $ 3,081 Each advance is payable based upon the terms of agreement, with a prepayment penalty. New advances are limited to a one-year maturity or less. No prepayment penalties were incurred during 2016 or 2015. The advances are collateralized by first mortgage loans. The borrowing capacity is based on the market value of the underlying pledged loans. At September 30, 2016, our additional borrowing capacity with the FHLB was $27.7 million. The availability of our borrowing capacity could be affected by our financial condition and the FHLB could require additional collateral or, among other things, exercise its right to deny a funding request, at its discretion. |
Note 8 - Fair Values Measuremen
Note 8 - Fair Values Measurement | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 8 – Fair Values Measurement Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We use various valuation techniques to determine fair value, including market, income and cost approaches. There are three levels of inputs that may be used to measure fair values: Level 1: Level 2: Level 3: In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. When that occurs, we classify the fair value hierarchy on the lowest level of input that is significant to the fair value measurement. We used the following methods and significant assumptions to estimate fair value. Securities: This valuation method is classified as Level 3 in the fair value hierarchy. Discounted cash flows are calculated using spread to swap and LIBOR curves that are updated to incorporate loss severities, volatility, credit spread and optionality. During times when trading is more liquid, broker quotes are used (if available) to validate the model. Rating agency and industry research reports as well as defaults and deferrals on individual securities are reviewed and incorporated into the calculations. Impaired Loans: Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. These routine adjustments are made to adjust the value of a specific property relative to comparable properties for variations in qualities such as location, size, and income production capacity relative to the subject property of the appraisal. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. We routinely apply an internal discount to the value of appraisals used in the fair value evaluation of our impaired loans. The deductions to the appraisal take into account changing business factors and market conditions, as well as potential value impairment in cases where our appraisal date predates a likely change in market conditions. These deductions range from 10% for routine real estate collateral to 25% for real estate that is determined (1) to have a thin trading market or (2) to be specialized collateral. This is in addition to estimated discounts for cost to sell of six to ten percent. We also apply discounts to the expected fair value of collateral for impaired loans where the likely resolution involves litigation or foreclosure. Resolution of this nature generally results in receiving lower values for real estate collateral in a more aggressive sales environment. We have utilized discounts ranging from 10% to 33% in our impairment evaluations when applicable. Impaired loans are evaluated quarterly for additional impairment. We obtain updated appraisals on properties securing our loans when circumstances are warranted such as at the time of renewal or when market conditions have significantly changed. This determination is made on a property-by-property basis in light of circumstances in the broader economic climate and our assessment of deterioration of real estate values in the market in which the property is located. The first stage of our assessment involves management’s inspection of the property in question. Management also engages in conversations with local real estate professionals, investors, and market participants to determine the likely marketing time and value range for the property. The second stage involves an assessment of current trends in the regional market. After thorough consideration of these factors, management will either internally evaluate fair value or order a new appraisal. Other Real Estate Owned (OREO) For larger dollar commercial real estate properties, we obtain a new appraisal of the subject property or have staff in our special assets group or centralized appraisal department evaluate the latest in-file appraisal in connection with the transfer to other real estate owned. In some of these circumstances, an appraisal is in process at quarter end, and we must make our best estimate of the fair value of the underlying collateral based on our internal evaluation of the property, review of the most recent appraisal, and discussions with the currently engaged appraiser. We generally obtain updated appraisals within five quarters of the anniversary date of ownership unless a sale is imminent. We routinely apply an internal discount to the value of appraisals used in the fair value evaluation of our OREO. The deductions to the appraisal take into account changing business factors and market conditions, as well as potential value impairment in cases where our appraisal date predates a likely change in market conditions. These deductions range from 10% for routine real estate collateral to 25% for real estate that is determined (1) to have a thin trading market or (2) to be specialized collateral. This is in addition to estimated discounts for cost to sell of six to ten percent. Financial assets measured at fair value on a recurring basis at September 30, 2016 and December 31, 2015 are summarized below: Fair Value Measurements at September 30, 201 6 Using (in thousands) Description Carrying Value Quoted Prices In Active Markets for (Level 1) Significant Other Observable Inputs Significant Unobservable (Level 3) Available for sale securities U.S. Government and federal agency $ 35,738 $ — $ 35,738 $ — Agency mortgage-backed: residential 101,461 — 101,461 — State and municipal 2,198 — 2,198 — Corporate bonds 3,036 — 3,036 — Total $ 142,433 $ — $ 142,433 $ — 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 $ — There were no transfers between Level 1 and Level 2 during 2016 or 2015. The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods ended September 30, 2016 and 2015: Other Debt Securities 201 6 201 5 (in thousands) Balances of recurring Level 3 assets at January 1 $ — $ 658 Total gain (loss) for the period: Included in other comprehensive income (loss) — (7 ) Balance of recurring Level 3 assets at September 30 $ — $ 651 At September 30, 2015, 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 8.25% 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 in December 2015. Financial assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at September 30, 201 6 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 589 — — 589 Nonfarm nonresidential 91 — — 91 Residential real estate: Multi-family — — — — 1-4 Family 1,436 — — 1,436 Consumer — — — — Agriculture 64 — — 64 Other — — — — Other real estate owned, net: Commercial real estate: Construction 6,781 — — 6,781 Farmland — — — — Nonfarm nonresidential 18 — — 18 Residential real estate: Multi-family — — — — 1-4 Family 299 — — 299 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 — — — — 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 Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $2.5 million at September 30, 2016 with a valuation allowance of $309,000, resulting in $220,000 and no additional provision for loan losses for the three and nine months ended September 30, 2016, respectively. Impaired loans had a carrying amount of $2.2 million with a valuation allowance of $369,000, and no additional provision for the three and nine months ended September 30, 2015. At December 31, 2015, impaired loans had a carrying amount of $1.8 million, with a valuation allowance of $337,000. OREO, which is measured at the lower of carrying or fair value less estimated costs to sell, had a net carrying amount of $7.1 million as of September 30, 2016, compared with $29.2 million at September 30, 2015 and $19.2 million at December 31, 2015. Fair value write-downs of $761,000 and $1.6 million were recorded on OREO for the three and nine months ended September 30, 2016, respectively, and $4.5 million and $7.8 million for the three and nine months ended September 30, 2015, respectively. The following table presents qualitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2016: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) (in thousands ) Impaired loans – Residential real estate $ 1,436 Sales comparison approach Adjustment for differences between the comparable sales 1% - 22% (10%) Other real estate owned – Commercial real estate $ 6,799 Sales comparison approach Adjustment for differences between the comparable sales 0% - 20% (9%) Income approach Discount or capitalization rate 18% - 20% (19%) 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%) Carrying amount and estimated fair values of financial instruments were as follows for the periods indicated: Fair Value Measurements at September 30, 201 6 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 63,844 $ 51,594 $ 12,250 $ — $ 63,844 Securities available for sale 142,433 — 142,433 — 142,433 Securities held to maturity 41,883 — 44,815 — 44,815 Federal Home Loan Bank stock 7,323 N/A N/A N/A N/A Loans held for sale 134 — 134 — 134 Loans, net 612,208 — — 618,572 618,572 Accrued interest receivable 3,067 — 1,033 2,034 3,067 Financial liabilities Deposits $ 836,944 $ 119,005 $ 707,176 $ — $ 826,181 Federal Home Loan Bank advances 2,619 — 2,692 — 2,692 Subordinated capital notes 3,375 — — 3,303 3,303 Junior subordinated debentures 21,000 — — 13,260 13,260 Accrued interest payable 590 — 396 194 590 Fair Value Measurements at December 31, 201 5 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 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 The methods and assumptions, not previously presented, used to estimate fair values are described as follows: (a) Cash and Cash Equivalents The carrying amounts of cash and short-term instruments approximate fair values and are classified as either Level 1 or Level 2. Non-interest bearing deposits are Level 1 whereas interest bearing due from bank accounts and fed funds sold are Level 2. (b) FHLB Stock It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. (c) Loans, Net Fair values of loans, excluding loans held for sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. (d) Loans Held for Sale The fair value of loans held for sale is estimated based upon binding contracts and and/or quotes from third party investors resulting in a Level 2 classification. (e) Deposits The fair values disclosed for non-interest bearing deposits are, by definition, equal to the amount payable on demand at the reporting date resulting in a Level 1 classification. The carrying amounts of variable rate interest bearing deposits approximate their fair values at the reporting date resulting in a Level 2 classification. Fair values for fixed rate interest bearing deposits are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. ( f) 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. (g) Accrued Interest Receivable/Payable The carrying amounts of accrued interest approximate fair value resulting in a Level 2 or Level 3 classification based on the level of the asset or liability with which the accrual is associated. |
Note 9 - Income Taxes
Note 9 - Income Taxes | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 9 – Income Taxes Deferred tax assets and liabilities were due to the following as of: September 30, December 31, 201 6 201 5 (in thousands) Deferred tax assets: Net operating loss carry-forward $ 42,338 $ 38,085 Allowance for loan losses 3,321 4,214 Other real estate owned write-down 3,293 7,619 Alternative minimum tax credit carry-forward 692 692 Net assets from acquisitions 673 671 Net unrealized loss on securities — 166 New market tax credit carry-forward 208 208 Nonaccrual loan interest 550 549 Other 1,796 1,875 52,871 54,079 Deferred tax liabilities: FHLB stock dividends 928 928 Fixed assets 142 176 Net unrealized gain on securities 665 — Other 1,055 865 2,790 1,969 Net deferred tax assets before valuation allowance 50,081 52,110 Valuation allowance (50,081 ) (52,110 ) Net deferred tax asset $ — $ — Our estimate of our ability to realize the deferred tax asset depends on our estimate of projected future levels of taxable income. In analyzing future taxable income levels, we considered all evidence currently available, both positive and negative. Based on our analysis, we established a valuation allowance for all deferred tax assets as of December 31, 2011. The valuation allowance remains in effect as of September 30, 2016. The Company does not have any beginning and ending unrecognized tax benefits. The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. There were no interest and penalties recorded in the income statement or accrued for the three or nine months ended September 30, 2016 or September 30, 2015 related to unrecognized tax benefits. Under Section 382 of the Internal Revenue Code, as amended (“Section 382”), the Company’s 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 two measures to preserve the value of its NOLs. First, we 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 shares. Upon adoption of this 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, our shareholders approved an amendment to the Company’s articles of incorporation to further help protect the long-term value of the Company’s NOLs. The amendment provides a means to block transfers of our common shares that could result in an ownership change under Section 382. The transfer restrictions will expire on the earlier of (i) September 23, 2018, (ii) the beginning of a taxable year with respect to which the Board of Directors determines that no tax benefit may be carried forward, (iii) the repeal of Section 382 or any successor statute if our Board determines that the transfer restrictions are no longer needed to preserve the tax benefits of our NOLs, or (iv) such date as the Board otherwise determines that the transfer restrictions are no longer necessary. The Company and its subsidiaries are subject to U.S. federal income tax and the Company is subject to income tax in the Commonwealth of Kentucky. The Company is no longer subject to examination by taxing authorities for years before 2012. |
Note 10 - Stock Plans and Stock
Note 10 - Stock Plans and Stock Based Compensation | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 10 – Stock Plans and Stock Based Compensation At the annual meeting on May 25, 2016, shareholders approved the Porter Bancorp, Inc. 2016 Omnibus Equity Compensation Plan (“2016 Plan”), which replaces the Porter Bancorp, Inc. 2006 Stock Incentive Plan (“2006 Employee Plan”) that had expired earlier in 2016. The shares available for issuance under the 2016 Plan total 232,512 shares which represents the number of shares that had previously been authorized by shareholders for issuance under the 2006 Employee Plan. Shares issued to employees under the plan vest annually on the anniversary date of the grant over three to ten years. The Company also maintains the Porter Bancorp, Inc. 2006 Non-Employee Directors Stock Ownership Incentive Plan (“2006 Director Plan”) pursuant to which 89,622 shares remain available for issuance as annual awards of restricted stock to the Company’s non-employee directors. Shares issued annually to non-employee directors have a fair market value of $25,000 and vest on December 31 in the year of grant. On December 4, 2014, the U.S. Treasury sold our Series A preferred shares at a discount to face amount. As a result, restricted shares previously granted to 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 intended by including equity grants in their employment agreements. The Compensation Committee and our four 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 those executive officers. The new awards are 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, which is being amortized in accordance with the vesting schedule. The fair value of the 2016 unvested shares issued was $323,000, or $1.82 per weighted-average share. The Company recorded $148,000 and $315,000 of stock-based compensation to salaries and employee benefits for the three and nine months ended September 30, 2016, respectively, and $132,000 and $313,000 for the three and nine months ended September 30, 2015, respectively. We expect substantially all of the unvested shares outstanding at the end of the period will vest according to the vesting schedule. No deferred tax benefit was recognized related to this expense for either period. The following table summarizes unvested share activity as of and for the periods indicated for the Stock Incentive Plan: Nine Months Ended September 30, 201 6 Twelve Months Ended 5 Shares Weighted Average Grant Price Shares Weighted Average Grant Price Outstanding, beginning 922,419 $ 0.96 775,492 $ 1.33 Granted 177,290 1.82 915,740 0.91 Vested (96,120 ) 1.51 (285,977 ) 1.33 Terminated — — (450,994 ) 1.25 Forfeited (9,854 ) 1.23 (31,842 ) 1.13 Outstanding, ending 993,735 $ 1.06 922,419 $ 0.96 Unrecognized stock based compensation expense related to unvested shares for the remainder of 2016 and beyond is estimated as follows (in thousands): October 2016 – December 2016 $ 127 2017 197 2018 190 2019 30 2020 & thereafter 9 |
Note 11 - Earnings (Loss) Per S
Note 11 - Earnings (Loss) Per Share | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 11 – Earnings (Loss) per Share The factors used in the basic and diluted loss per share computations follow: Three Months Ended September 30, Nine Months Ended September 30, 201 6 201 5 201 6 201 5 (in thousands, except share and per share data) Net income (loss) $ 1,393 $ (1,076 ) $ 3,885 $ (2,612 ) Less: Earnings (losses) allocated to unvested shares 46 (45 ) 129 (102 ) Earnings (losses) allocated to participating preferred shares — — — (236 ) Net income (loss) attributable to common shareholders, basic and diluted $ 1,347 $ (1,031 ) $ 3,756 $ (2,274 ) Basic Weighted average common shares including unvested common shares outstanding 31,115,223 25,768,887 29,488,087 25,626,610 Less: Weighted average unvested common shares 1,034,143 1,087,340 977,062 1,002,867 Weighted average Series B preferred — — — 890,901 Weighted average Series D preferred — — — 1,419,341 Weighted average common shares outstanding 30,081,080 24,681,547 28,511,025 22,313,501 Basic income (loss) per common share $ 0.04 $ (0.04 ) $ 0.13 $ (0.10 ) Diluted Add: Dilutive effects of assumed exercises of common stock warrants — — — — Weighted average common shares and potential common shares 30,081,080 24,681,547 28,511,025 22,313,501 Diluted income (loss) per common share $ 0.04 $ (0.04 ) $ 0.13 $ (0.10 ) The Company had no outstanding stock options at September 30, 2016 or 2015. A warrant for the purchase of 330,561 shares of the Company’s common stock at an exercise price of $15.88 was outstanding at September 30, 2016 and 2015 but was not included in the diluted EPS computation as inclusion would have been anti-dilutive. |
Note 12 - Capital Requirements
Note 12 - Capital Requirements and Restrictions on Retained Earnings | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 12 – Capital Requirements and Restrictions on Retained Earnings Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The 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. The rules also establish a “capital conservation buffer” of 2.5%, to be phased in over three years, above the regulatory minimum risk-based capital ratios. Once the capital conservation buffer is fully phased in, the minimum ratios are a common equity Tier 1 risk-based capital ratio of 7.0%, a Tier 1 risk-based capital ratio of 8.5%, and a total risk-based capital ratio of 10.5%. The phase-in of the capital conservation buffer requirement begins in January 2016 at 0.625% of risk-weighted assets and will increase each year until fully implemented in January 2019. An institution is subject to limitations on paying dividends, engaging in share repurchases and paying discretionary bonuses if capital levels fall below minimum levels plus the buffer amounts. These limitations establish a maximum percentage of eligible retained income that could be utilized for such actions. In its Consent Order 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 Order is described in greater detail in Note 2 – “Going Concern and Future Plans”. As of September 30, 2016, 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, but otherwise compliant with Basel III capital requirements. The Bank cannot be considered well-capitalized while subject to the Consent Order. We are also restricted from accepting, renewing, or rolling-over brokered deposits without the prior receipt of a waiver on a case-by-case basis from our regulators. On September 21, 2011, we entered into a Written Agreement with the Federal Reserve Bank of St. Louis. In 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 Common Equity Tier 1, Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and the Bank at the dates indicated (dollars in thousands): Actual Regulatory Minimums for Capital A dequacy Purposes Amount Ratio Amount Ratio As of September 30, 201 6 : Total risk-based capital (to risk- weighted assets) Consolidated $ 77,470 11.57 % $ 53,577 8.00 % Bank 74,802 11.18 53,523 8.00 Total common equity Tier I risk-based capital (to risk- weighted assets) Consolidated 42,659 6.37 30,137 4.50 Bank 63,770 9.53 30,107 4.50 Tier I capital (to risk-weighted assets) Consolidated 56,788 8.48 40,183 6.00 Bank 63,770 9.53 40,142 6.00 Tier I capital (to average assets) Consolidated 56,788 6.21 36,601 4.00 Bank 63,770 6.97 36,572 4.00 Actual Regulatory Minimums f or 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 1 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 The Consent Order requires the Bank to achieve the minimum capital ratios presented below: Actual as of September 30, 201 6 Ratio Required by Consent Order Amount Ratio Amount Ratio Total capital to risk-weighted assets $ 74,802 11.18 % $ 80,284 12.00 % Tier I capital to average assets 63,770 6.97 82,287 9.00 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 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 is the 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 while subject to the Consent Order. |
Note 13 - Contingencies
Note 13 - Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | Note 13 – Contingencies We are defendants in various legal proceedings. Litigation is subject to inherent uncertainties and unfavorable rulings could occur. We record contingent liabilities resulting from claims against us when a loss is assessed to be probable and the amount of the loss is reasonably estimable. Assessing probability of loss and estimating probable losses requires analysis of multiple factors, including in some cases judgments about the potential actions of third party claimants and courts. Recorded contingent liabilities are based on the best information available and actual losses in any future period are inherently uncertain. Currently, we have accrued approximately $2.1 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. 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. 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. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the entire year. A description of other significant accounting policies is presented in the notes to the Consolidated Financial Statements for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates – To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and future results could differ. |
Reclassification, Policy [Policy Text Block] | Reclassifications |
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of New Accounting Standards 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. In February 2016, the FASB issued an update ASU No. 2016-02, Leases (Topic 842). Under the new guidance, lessees will be required to recognize the following for all leases, with the exception of short-term leases, at the commencement date: a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting in largely unchanged. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2018. 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. In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments are intended to improve the accounting for employee share-based payments and affects all organizations that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment award transactions are simplified, including the income tax consequences, the classification of awards as either equity or liabilities, and the classification on the statement of cash flows. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2016. 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. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The final standard will change estimates for credit losses related to financial assets measured at amortized cost such as loans, held-to-maturity debt securities, and certain other contracts. For estimating credit losses, the FASB is replacing the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (CECL) model. The largest impact will be on the allowance for loan and lease losses. The standard is effective for public companies for fiscal years beginning after December 15, 2019. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) September 30, 201 6 Available for sale U.S. Government and federal agency $ 35,235 $ 509 $ (6 ) $ 35,738 Agency mortgage-backed: residential 99,225 2,288 (52 ) 101,461 State and municipal 2,153 45 — 2,198 Corporate bonds 3,066 38 (68 ) 3,036 Total available for sale $ 139,679 $ 2,880 $ (126 ) $ 142,433 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 41,883 $ 2,932 $ — $ 44,815 Total held to maturity $ 41,883 $ 2,932 $ — $ 44,815 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 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 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 201 6 201 5 201 6 201 5 (in thousands) (in thousands) Proceeds $ 2,555 $ 230 $ 6,276 $ 44,340 Gross gains 13 — 216 1,832 Gross losses 29 — 29 136 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 201 6 Amortized Cost Fair Value (in thousands) Maturity Available for sale Within one year $ 6,628 $ 6,615 One to five years 7,120 7,266 Five to ten years 26,706 27,091 Agency mortgage-backed: residential 99,225 101,461 Total $ 139,679 $ 142,433 Held to maturity Within one year $ 646 653 One to five years 21,365 $ 22,469 Five to ten years 18,825 20,506 Beyond ten years 1,047 1,187 Total $ 41,883 $ 44,815 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (in thousands) September 30, 201 6 Available for sale U.S. Government and federal Agency $ 3,373 $ (6 ) $ — $ — $ 3,373 $ (6 ) Agency mortgage-backed: Residential 9,637 (52 ) — — 9,637 (52 ) Corporate bonds — — 1,497 (68 ) 1,497 (68 ) Total temporarily impaired $ 13,010 $ (58 ) $ 1,497 $ (68 ) $ 14,507 $ (126 ) December 31, 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 ) |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans were as follows: September 30, December 31, 201 6 201 5 (in thousands) Commercial $ 85,000 $ 86,176 Commercial Real Estate: Construction 34,178 33,154 Farmland 83,320 76,412 Nonfarm nonresidential 138,351 140,570 Residential Real Estate: Multi-family 36,558 44,131 1-4 Family 192,008 201,478 Consumer 9,752 10,010 Agriculture 41,764 26,316 Other 766 419 Subtotal 621,697 618,666 Less: Allowance for loan losses (9,489 ) (12,041 ) Loans, net $ 612,208 $ 606,625 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2016: Beginning balance $ 730 $ 5,429 $ 3,778 $ 47 $ 119 $ 1 $ 10,104 Negative provision (195 ) (436 ) (142 ) (26 ) 79 (30 ) (750 ) Loans charged off (15 ) (232 ) (131 ) (21 ) (5 ) (1 ) (405 ) Recoveries 102 354 27 23 1 33 540 Ending balance $ 622 $ 5,115 $ 3,532 $ 23 $ 194 $ 3 $ 9,489 September 30, 2015: Beginning balance $ 1,946 $ 9,213 $ 5,060 $ 226 $ 359 $ 5 $ 16,809 Negative provision for loan losses (180 ) (1,334 ) (489 ) (73 ) (120 ) (4 ) (2,200 ) Loans charged off (201 ) (768 ) (486 ) (70 ) (41 ) (14 ) (1,580 ) Recoveries 5 905 144 98 2 15 1,169 Ending balance $ 1,570 $ 8,016 $ 4,229 $ 181 $ 200 $ 2 $ 14,198 Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2016: Beginning balance $ 818 $ 6,993 $ 3,984 $ 122 $ 122 $ 2 $ 12,041 Negative provision (89 ) (2,024 ) 458 (259 ) (1 ) 15 (1,900 ) Loans charged off (276 ) (477 ) (1,181 ) (56 ) (13 ) (79 ) (2,082 ) Recoveries 169 623 271 216 86 65 1,430 Ending balance $ 622 $ 5,115 $ 3,532 $ 23 $ 194 $ 3 $ 9,489 September 30, 2015: Beginning balance $ 2,046 $ 10,931 $ 5,787 $ 274 $ 319 $ 7 $ 19,364 Negative provision for loan losses (207 ) (1,657 ) (269 ) (51 ) (13 ) (3 ) (2,200 ) Loans charged off (675 ) (2,361 ) (1,777 ) (200 ) (111 ) (47 ) (5,171 ) Recoveries 406 1,103 488 158 5 45 2,205 Ending balance $ 1,570 $ 8,016 $ 4,229 $ 181 $ 200 $ 2 $ 14,198 |
Impairment Evaluation of Financing Receivables [Table Text Block] | Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Allowance for loa n losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ – $ 41 $ 297 $ – $ 1 $ – $ 339 Collectively evaluated for impairment 622 5,074 3,235 23 193 3 9,150 Total ending allowance balance $ 622 $ 5,115 $ 3,532 $ 23 $ 194 $ 3 $ 9,489 Loans: Loans individually evaluated for impairment $ 571 $ 6,568 $ 8,940 $ 1 $ 134 $ – $ 16,214 Loans collectively evaluated for impairment 84,429 249,281 219,626 9,751 41,630 766 605,483 Total ending loans balance $ 85,000 $ 255,849 $ 228,566 $ 9,752 $ 41,764 $ 766 $ 621,697 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 |
Impaired Financing Receivables [Table Text Block] | As of September 30, 201 6 Three Months Ended September 30, 201 6 Nine Months Ended September 30, 201 6 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 784 $ 571 $ — $ 659 $ — $ 824 $ 1 Commercial real estate: Construction — — — 129 3 195 9 Farmland 6,040 4,216 — 4,404 79 4,299 87 Nonfarm nonresidential 4,669 1,354 — 4,023 2 5,569 308 Residential real estate: Multi-family 4,121 4,121 — 3,254 179 2,235 237 1-4 Family 4,185 3,086 — 3,523 14 6,159 85 Consumer 34 1 — 4 — 8 8 Agriculture 97 69 — 69 — 92 — Other — — — — — — — Subtotal 19,930 13,418 — 16,065 277 19,381 735 With An Allowance Recorded: Commercial — — — — — — — Commercial real estate: Construction — — — — — — — Farmland 614 595 6 600 — 300 — Nonfarm nonresidential 403 403 35 405 6 421 18 Residential real estate: Multi-family — — — 2,080 — 3,133 101 1-4 Family 2,179 1,733 297 1,656 20 1,671 74 Consumer — — — — — — — Agriculture 78 65 1 68 — 34 — Other — — — — — — — Subtotal 3,274 2,796 339 4,809 26 5,559 193 Total $ 23,204 $ 16,214 $ 339 $ 20,874 $ 303 $ 24,940 $ 928 As of December 31, 201 5 Three Months Ended September 30, 201 5 Nine Months Ended September 30, 201 5 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 1,558 $ 1,112 $ — $ 1,439 $ — $ 1,630 $ 5 Commercial real estate: Construction 278 262 — 833 3 2,426 11 Farmland 6,004 4,263 — 4,305 34 4,555 60 Nonfarm nonresidential 11,256 7,829 — 13,347 65 18,133 202 Residential real estate: Multi-family 32 32 — 33 — 37 — 1-4 Family 14,066 11,756 — 13,163 96 14,040 340 Consumer 118 20 — 23 — 25 — Agriculture 260 152 — 191 — 219 — Other — — — — 1 61 5 Subtotal 33,572 25,426 — 33,334 199 41,126 623 With An Allowance Recorded: -*--------- Commercial — — — 4 — 16 — Commercial real estate: Construction — — — — — — — Farmland — — — — — 79 — Nonfarm nonresidential 574 465 43 2,708 6 5,622 18 Residential real estate: Multi-family 4,195 4,195 57 4,216 51 4,237 153 1-4 Family 1,690 1,690 328 1,691 29 1,709 68 Consumer — — — — — 10 — Agriculture — — — — — — — Other — — — — — — — Subtotal 6,459 6,350 428 8,619 86 11,673 239 Total $ 40,031 $ 31,776 $ 428 $ 41,953 $ 285 $ 52,799 $ 862 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) September 30, 2016 Commercial Rate reduction $ — $ 33 $ 33 Principal deferral — 439 439 Commercial Real Estate: Construction Rate reduction — — — Farmland Principal deferral — 2,300 2,300 Nonfarm nonresidential Rate reduction 610 — 610 Principal deferral — 607 607 Residential Real Estate: Multi-family Rate reduction 4,121 — 4,121 1-4 Family Rate reduction 1,383 — 1,383 Total TDRs $ 6,114 $ 3,379 $ 9,493 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 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | Nonaccrual Loans Past Due 90 Days And Over Still Accruing September 30, 201 6 December 31, 201 5 September 30, 201 6 December 31, 201 5 (in thousands) Commercial $ 571 $ 1,112 $ — $ — Commercial Real Estate: Construction — — — — Farmland 4,811 4,263 — — Nonfarm nonresidential 1,147 2,657 — — Residential Real Estate: Multi-family — 32 — — 1-4 Family 3,435 5,851 — — Consumer 1 20 — — Agriculture 134 152 — — Other — — — — Total $ 10,099 $ 14,087 $ — $ — |
Past Due Financing Receivables [Table Text Block] | 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) September 30, 2016 Commercial $ — $ — $ — $ 571 $ 571 Commercial Real Estate: Construction — — — — — Farmland 156 — — 4,811 4,967 Nonfarm nonresidential — — — 1,147 1,147 Residential Real Estate: Multi-family — — — — — 1-4 Family 2,087 270 — 3,435 5,792 Consumer 65 3 — 1 69 Agriculture 27 — — 134 161 Other — — — — — Total $ 2,335 $ 273 $ — $ 10,099 $ 12,707 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, 2015 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 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Watch Special Mention Substandard Doubtful Total (in thousands) September 30, 2016 Commercial $ 83,466 $ 525 $ — $ 1,009 $ — $ 85,000 Commercial Real Estate: Construction 28,881 5,211 — 86 — 34,178 Farmland 73,324 2,717 — 7,279 — 83,320 Nonfarm nonresidential 124,094 11,707 533 2,017 — 138,351 Residential Real Estate: Multi-family 28,218 4,485 — 3,855 — 36,558 1-4 Family 170,439 12,941 70 8,558 — 192,008 Consumer 9,274 399 — 79 — 9,752 Agriculture 32,613 8,064 — 1,087 — 41,764 Other 766 — — — — 766 Total $ 551,075 $ 46,049 $ 603 $ 23,970 $ — $ 621,697 Pass Watch Special Mention Substandard Doubtful Total (in thousands) December 31, 2015 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 |
Note 5 - Other Real Estate Ow24
Note 5 - Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | September 30, 201 6 December 31, 201 5 (in thousands) Commercial Real Estate: Construction, land development, and other land $ 6,781 $ 12,749 Nonfarm nonresidential 18 6,967 Residential Real Estate: 1-4 Family 299 128 7,098 19,844 Valuation allowance — (630 ) $ 7,098 $ 19,214 |
Schedule of Valuation Allowance and Activity Related to Foreclosed Real Estate [Table Text Block] | For the Three Months Ended September 30, For the Nine Months Ended September 30, 201 6 201 5 201 6 201 5 (in thousands) (in thousands) OREO Valuation Allowance Activity: Beginning balance $ 441 $ 307 $ 630 $ 1,066 Provision to allowance 320 4,450 970 7,080 Write-downs (761 ) (4,457 ) (1,600 ) (7,846 ) Ending balance $ — $ 300 $ — $ 300 |
Schedule of Expenses Related to Foreclosed Real Estate [Table Text Block] | For the Nine Months Ended September 30, 201 6 201 5 (in thousands) OREO Activity OREO as of January 1 $ 19,214 $ 46,197 Real estate acquired 1,243 4,450 Valuation adjustment write-downs (970 ) (7,080 ) Net gain on sales 221 27 Proceeds from sale of properties (12,610 ) (14,417 ) OREO as of September 30 $ 7,098 $ 29,177 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 201 6 201 5 201 6 201 5 (in thousands) (in thousands) Net (gain) loss on sales $ (52 ) $ 16 $ (221 ) $ (27 ) Provision to allowance 320 4,450 970 7,080 Operating expense 54 665 535 1,743 Total $ 322 $ 5,131 $ 1,284 $ 8,796 |
Note 6 - Deposits (Tables)
Note 6 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Deposits [Table Text Block] | September 30, 201 6 December 31, 201 5 (in thousands) Non-interest bearing $ 119,005 $ 120,043 Interest checking 88,386 97,515 Money market 140,995 125,935 Savings 33,816 34,677 Certificates of deposit 454,742 499,827 Total $ 836,944 $ 877,997 |
Schedule of Maturities of Time Deposits [Table Text Block] | Year 1 $ 293,430 Year 2 89,256 Year 3 21,352 Year 4 41,930 Year 5 8,774 $ 454,742 |
Note 7 - Advances From the Fe26
Note 7 - Advances From the Federal Home Loan Bank (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | September 30, December 31, 201 6 201 5 (in thousands) Monthly amortizing advances with fixed rates from 0.00% to 5.25% and maturities ranging from 2017 through 2033, averaging 2.42% at September 30, 2016 and 2.65% at December 31, 2015 $ 2,619 $ 3,081 |
Note 8 - Fair Values Measurem27
Note 8 - Fair Values Measurement (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Fair Value Measurements at September 30, 201 6 Using (in thousands) Description Carrying Value Quoted Prices In Active Markets for (Level 1) Significant Other Observable Inputs Significant Unobservable (Level 3) Available for sale securities U.S. Government and federal agency $ 35,738 $ — $ 35,738 $ — Agency mortgage-backed: residential 101,461 — 101,461 — State and municipal 2,198 — 2,198 — Corporate bonds 3,036 — 3,036 — Total $ 142,433 $ — $ 142,433 $ — 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 September 30, 201 6 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 589 — — 589 Nonfarm nonresidential 91 — — 91 Residential real estate: Multi-family — — — — 1-4 Family 1,436 — — 1,436 Consumer — — — — Agriculture 64 — — 64 Other — — — — Other real estate owned, net: Commercial real estate: Construction 6,781 — — 6,781 Farmland — — — — Nonfarm nonresidential 18 — — 18 Residential real estate: Multi-family — — — — 1-4 Family 299 — — 299 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 — — — — 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 Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Table Text Block] | Other Debt Securities 201 6 201 5 (in thousands) Balances of recurring Level 3 assets at January 1 $ — $ 658 Total gain (loss) for the period: Included in other comprehensive income (loss) — (7 ) Balance of recurring Level 3 assets at September 30 $ — $ 651 |
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 $ 1,436 Sales comparison approach Adjustment for differences between the comparable sales 1% - 22% (10%) Other real estate owned – Commercial real estate $ 6,799 Sales comparison approach Adjustment for differences between the comparable sales 0% - 20% (9%) Income approach Discount or capitalization rate 18% - 20% (19%) 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, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at September 30, 201 6 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 63,844 $ 51,594 $ 12,250 $ — $ 63,844 Securities available for sale 142,433 — 142,433 — 142,433 Securities held to maturity 41,883 — 44,815 — 44,815 Federal Home Loan Bank stock 7,323 N/A N/A N/A N/A Loans held for sale 134 — 134 — 134 Loans, net 612,208 — — 618,572 618,572 Accrued interest receivable 3,067 — 1,033 2,034 3,067 Financial liabilities Deposits $ 836,944 $ 119,005 $ 707,176 $ — $ 826,181 Federal Home Loan Bank advances 2,619 — 2,692 — 2,692 Subordinated capital notes 3,375 — — 3,303 3,303 Junior subordinated debentures 21,000 — — 13,260 13,260 Accrued interest payable 590 — 396 194 590 Fair Value Measurements at December 31, 201 5 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 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 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | September 30, December 31, 201 6 201 5 (in thousands) Deferred tax assets: Net operating loss carry-forward $ 42,338 $ 38,085 Allowance for loan losses 3,321 4,214 Other real estate owned write-down 3,293 7,619 Alternative minimum tax credit carry-forward 692 692 Net assets from acquisitions 673 671 Net unrealized loss on securities — 166 New market tax credit carry-forward 208 208 Nonaccrual loan interest 550 549 Other 1,796 1,875 52,871 54,079 Deferred tax liabilities: FHLB stock dividends 928 928 Fixed assets 142 176 Net unrealized gain on securities 665 — Other 1,055 865 2,790 1,969 Net deferred tax assets before valuation allowance 50,081 52,110 Valuation allowance (50,081 ) (52,110 ) Net deferred tax asset $ — $ — |
Note 10 - Stock Plans and Sto29
Note 10 - Stock Plans and Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Nonvested Share Activity [Table Text Block] | Nine Months Ended September 30, 201 6 Twelve Months Ended 5 Shares Weighted Average Grant Price Shares Weighted Average Grant Price Outstanding, beginning 922,419 $ 0.96 775,492 $ 1.33 Granted 177,290 1.82 915,740 0.91 Vested (96,120 ) 1.51 (285,977 ) 1.33 Terminated — — (450,994 ) 1.25 Forfeited (9,854 ) 1.23 (31,842 ) 1.13 Outstanding, ending 993,735 $ 1.06 922,419 $ 0.96 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block] | October 2016 – December 2016 $ 127 2017 197 2018 190 2019 30 2020 & thereafter 9 |
Note 11 - Earnings (Loss) Per30
Note 11 - Earnings (Loss) Per Share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 201 6 201 5 201 6 201 5 (in thousands, except share and per share data) Net income (loss) $ 1,393 $ (1,076 ) $ 3,885 $ (2,612 ) Less: Earnings (losses) allocated to unvested shares 46 (45 ) 129 (102 ) Earnings (losses) allocated to participating preferred shares — — — (236 ) Net income (loss) attributable to common shareholders, basic and diluted $ 1,347 $ (1,031 ) $ 3,756 $ (2,274 ) Basic Weighted average common shares including unvested common shares outstanding 31,115,223 25,768,887 29,488,087 25,626,610 Less: Weighted average unvested common shares 1,034,143 1,087,340 977,062 1,002,867 Weighted average Series B preferred — — — 890,901 Weighted average Series D preferred — — — 1,419,341 Weighted average common shares outstanding 30,081,080 24,681,547 28,511,025 22,313,501 Basic income (loss) per common share $ 0.04 $ (0.04 ) $ 0.13 $ (0.10 ) Diluted Add: Dilutive effects of assumed exercises of common stock warrants — — — — Weighted average common shares and potential common shares 30,081,080 24,681,547 28,511,025 22,313,501 Diluted income (loss) per common share $ 0.04 $ (0.04 ) $ 0.13 $ (0.10 ) |
Note 12 - Capital Requirement31
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Regulatory Minimums for Capital A dequacy Purposes Amount Ratio Amount Ratio As of September 30, 201 6 : Total risk-based capital (to risk- weighted assets) Consolidated $ 77,470 11.57 % $ 53,577 8.00 % Bank 74,802 11.18 53,523 8.00 Total common equity Tier I risk-based capital (to risk- weighted assets) Consolidated 42,659 6.37 30,137 4.50 Bank 63,770 9.53 30,107 4.50 Tier I capital (to risk-weighted assets) Consolidated 56,788 8.48 40,183 6.00 Bank 63,770 9.53 40,142 6.00 Tier I capital (to average assets) Consolidated 56,788 6.21 36,601 4.00 Bank 63,770 6.97 36,572 4.00 Actual Regulatory Minimums f or 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 1 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 |
Bankers Acceptance Disclosures [Table Text Block] | Actual as of September 30, 201 6 Ratio Required by Consent Order Amount Ratio Amount Ratio Total capital to risk-weighted assets $ 74,802 11.18 % $ 80,284 12.00 % Tier I capital to average assets 63,770 6.97 82,287 9.00 |
Note 1 - Basis of Presentatio32
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) | Sep. 30, 2016 |
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% |
Note 2 - Going Concern Consid33
Note 2 - Going Concern Considerations and Future Plans (Details Textual) - USD ($) $ in Thousands, shares in Millions | Apr. 15, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2017 | Dec. 31, 2015 | Dec. 31, 2014 | Jan. 01, 2019 |
Loans, Total [Member] | Credit Concentration Risk [Member] | Nonperforming Financial Instruments [Member] | |||||||||
Concentration Risk, Percentage | 1.62% | 2.28% | 7.57% | ||||||
Assets, Total [Member] | Credit Concentration Risk [Member] | Nonperforming Financial Instruments [Member] | |||||||||
Concentration Risk, Percentage | 1.88% | 3.51% | 9.19% | ||||||
Voting Common Stock [Member] | Private Placement [Member] | |||||||||
Stock Issued During Period, Shares, New Issues | 2.9 | ||||||||
Nonvoting Common Stock [Member] | Private Placement [Member] | |||||||||
Stock Issued During Period, Shares, New Issues | 1.1 | ||||||||
Private Placement [Member] | |||||||||
Sale of Stock, Consideration Received on Transaction | $ 5,000 | ||||||||
Proceeds From Issuance of Shares Used for General Corporate Purposes | $ 2,200 | ||||||||
PBI Bank [Member] | Consent Order [Member] | |||||||||
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% | |||||||
PBI Bank [Member] | |||||||||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% | 4.00% | ||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% | 8.00% | ||||||
Tier One Leverage Capital to Average Assets | 6.97% | 6.97% | 6.08% | ||||||
Capital to Risk Weighted Assets | 11.18% | 11.18% | 10.58% | ||||||
Scenario, Forecast [Member] | Parent [Member] | |||||||||
Operating Expenses | $ 1,000 | ||||||||
Scenario, Forecast [Member] | |||||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 10.50% | ||||||||
Net Income (Loss) Attributable to Parent | $ 1,393 | $ (1,076) | $ 3,885 | $ (2,612) | $ (3,200) | $ (11,200) | |||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% | 4.00% | ||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% | 8.00% | ||||||
Tier One Leverage Capital to Average Assets | 6.21% | 6.21% | 4.74% | ||||||
Capital to Risk Weighted Assets | 11.57% | 11.57% | 10.46% | ||||||
Cash | $ 2,200 | $ 2,200 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) | 9 Months Ended | |
Sep. 30, 2016USD ($) | Dec. 31, 2015USD ($) | |
Texas [Member] | ||
Available-for-sale Securities | $ 4,300,000 | $ 4,300,000 |
Kentucky [Member] | ||
Available-for-sale Securities | 16,500,000 | 17,700,000 |
Available-for-sale Securities | $ 142,433,000 | $ 144,978,000 |
Concentration Risk Number | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 0 | $ 0 |
Available-for-sale Securities Pledged as Collateral | 52,500,000 | $ 68,000,000 |
Other than Temporary Impairment Losses, Investments | $ 0 |
Note 3 - Securities - Amortized
Note 3 - Securities - Amortized Cost, Gross Unrealized Gains or Losses, and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | $ 2,153 | $ 6,555 |
Available for sale securities, gross unrealized gains | 45 | 306 |
Available for sale securities, gross unrealized losses | ||
Securities available for sale | 2,198 | 6,861 |
Held to maturity | ||
Held to maturity securities, amortized cost | 41,883 | 42,075 |
Held to maturity securities, gross unrecognized gains | 2,932 | 2,178 |
Held to maturity securities, gross unrecognized losses | ||
Held to maturity securities, fair value | 44,815 | 44,253 |
US Treasury and Government [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 35,235 | 33,491 |
Available for sale securities, gross unrealized gains | 509 | 146 |
Available for sale securities, gross unrealized losses | (6) | (375) |
Securities available for sale | 35,738 | 33,262 |
Residential Mortgage Backed Securities [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 99,225 | 102,135 |
Available for sale securities, gross unrealized gains | 2,288 | 907 |
Available for sale securities, gross unrealized losses | (52) | (380) |
Securities available for sale | 101,461 | 102,662 |
Corporate Debt Securities [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 3,066 | 2,321 |
Available for sale securities, gross unrealized gains | 38 | |
Available for sale securities, gross unrealized losses | (68) | (128) |
Securities available for sale | 3,036 | 2,193 |
Available for sale securities, amortized cost | 139,679 | 144,502 |
Available for sale securities, gross unrealized gains | 2,880 | 1,359 |
Available for sale securities, gross unrealized losses | (126) | (883) |
Securities available for sale | 142,433 | 144,978 |
Held to maturity | ||
Held to maturity securities, amortized cost | 41,883 | 42,075 |
Held to maturity securities, gross unrecognized gains | 2,932 | 2,178 |
Held to maturity securities, gross unrecognized losses | ||
Held to maturity securities, fair value | $ 44,815 | $ 44,253 |
Note 3 - Securities - Sales and
Note 3 - Securities - Sales and Calls of Available for Sale Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Sales and calls of available for sale securities | $ 2,555 | $ 230 | $ 6,276 | $ 44,340 |
Gross gains | 13 | 216 | 1,832 | |
Gross losses | $ 29 | $ 29 | $ 136 |
Note 3 - Securities - Amortiz37
Note 3 - Securities - Amortized Cost and Fair Value of Debt Investment Securities Portfolio by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Within one year | $ 6,628 | |
Within one year | 6,615 | |
One to five years | 7,120 | |
One to five years | 7,266 | |
Five to ten years | 26,706 | |
Five to ten years | 27,091 | |
Agency mortgage-backed: residential | 99,225 | |
Agency mortgage-backed: residential | 101,461 | |
Total | 139,679 | |
Total | 142,433 | |
Within one year | 646 | |
Within one year | 653 | |
One to five years | 21,365 | |
One to five years | 22,469 | |
Five to ten years | 18,825 | |
Five to ten years | 20,506 | |
Beyond ten years | 1,047 | |
Beyond ten years | 1,187 | |
Held to maturity securities, amortized cost | 41,883 | $ 42,075 |
Held to maturity securities, fair value | $ 44,815 | $ 44,253 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
US Treasury and Government [Member] | ||
Available for sale, fair value, less than 12 months | $ 3,373 | $ 7,058 |
Available for sale, unrealized loss, less than 12 months | (6) | (44) |
Available for sale, fair value, 12 months or more | 14,527 | |
Available for sale, unrealized loss, 12 months or more | (331) | |
Available for sale, fair value | 3,373 | 21,585 |
Available for sale, unrealized loss | (6) | (375) |
Residential Mortgage Backed Securities [Member] | ||
Available for sale, fair value, less than 12 months | 9,637 | 36,325 |
Available for sale, unrealized loss, less than 12 months | (52) | (271) |
Available for sale, fair value, 12 months or more | 3,856 | |
Available for sale, unrealized loss, 12 months or more | (109) | |
Available for sale, fair value | 9,637 | 40,181 |
Available for sale, unrealized loss | (52) | (380) |
Corporate Debt Securities [Member] | ||
Available for sale, fair value, less than 12 months | 747 | |
Available for sale, unrealized loss, less than 12 months | (18) | |
Available for sale, fair value, 12 months or more | 1,497 | 1,446 |
Available for sale, unrealized loss, 12 months or more | (68) | (110) |
Available for sale, fair value | 1,497 | 2,193 |
Available for sale, unrealized loss | (68) | (128) |
Available for sale, fair value, less than 12 months | 13,010 | 44,130 |
Available for sale, unrealized loss, less than 12 months | (58) | (333) |
Available for sale, fair value, 12 months or more | 1,497 | 19,829 |
Available for sale, unrealized loss, 12 months or more | (68) | (550) |
Available for sale, fair value | 14,507 | 63,959 |
Available for sale, unrealized loss | $ (126) | $ (883) |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 87,000 | $ 47,000 | $ 377,000 | $ 149,000 | |
Financing Receivable Modifications Percentage of Performing TDRs to Total TDRs | 64.00% | 64.00% | 83.00% | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | $ 0 | ||
Troubled Debt Restructuring Reserve | $ 238,000 | $ 238,000 | $ 179,000 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | |
Financing Receivable, Transfer Out from TDR, Number of Contracts | 1 | ||||
Financing Receivable, Transfer Out from TDR, Recorded Investmentts | $ 5,000,000 | $ 5,000,000 | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |||
Minimum Outstanding Balance for Loans to be Qualified for Credit Risk Analysis | $ 500,000 | $ 500,000 |
Note 4 - Loans - Loans (Details
Note 4 - Loans - Loans (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Commercial Portfolio Segment [Member] | ||
Gross loans | $ 85,000,000 | $ 86,176,000 |
Less: Allowance for loan losses | (622,000) | (818,000) |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 34,178,000 | 33,154,000 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Gross loans | 83,320,000 | 76,412,000 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 138,351,000 | 140,570,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Gross loans | 255,849,000 | 250,136,000 |
Less: Allowance for loan losses | (5,115,000) | (6,993,000) |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Gross loans | 36,558,000 | 44,131,000 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 192,008,000 | 201,478,000 |
Residential Portfolio Segment [Member] | ||
Gross loans | 228,566,000 | 245,609,000 |
Less: Allowance for loan losses | (3,532,000) | (3,984,000) |
Consumer Portfolio Segment [Member] | ||
Gross loans | 9,752,000 | 10,010,000 |
Less: Allowance for loan losses | (23,000) | (122,000) |
Agriculture Portfolio Segment [Member] | ||
Gross loans | 41,764,000 | 26,316,000 |
Less: Allowance for loan losses | (194,000) | (122,000) |
Other Portfolio Segment [Member] | ||
Gross loans | 766,000 | 419,000 |
Less: Allowance for loan losses | (3,000) | (2,000) |
Gross loans | 621,697,000 | 618,666,000 |
Less: Allowance for loan losses | (9,489,000) | (12,041,000) |
Loans, net | $ 612,208,000 | $ 606,625,000 |
Note 4 - Loans - Activity in Al
Note 4 - Loans - Activity in Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Commercial Portfolio Segment [Member] | ||||
Beginning balance | $ 730 | $ 1,946 | $ 818 | $ 2,046 |
Provision (negative provision) for loan losses | (195) | (180) | (89) | (207) |
Loans charged off | (15) | (201) | (276) | (675) |
Recoveries | 102 | 5 | 169 | 406 |
Ending balance | 622 | 1,570 | 622 | 1,570 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Beginning balance | 5,429 | 9,213 | 6,993 | 10,931 |
Provision (negative provision) for loan losses | (436) | (1,334) | (2,024) | (1,657) |
Loans charged off | (232) | (768) | (477) | (2,361) |
Recoveries | 354 | 905 | 623 | 1,103 |
Ending balance | 5,115 | 8,016 | 5,115 | 8,016 |
Residential Portfolio Segment [Member] | ||||
Beginning balance | 3,778 | 5,060 | 3,984 | 5,787 |
Provision (negative provision) for loan losses | (142) | (489) | 458 | (269) |
Loans charged off | (131) | (486) | (1,181) | (1,777) |
Recoveries | 27 | 144 | 271 | 488 |
Ending balance | 3,532 | 4,229 | 3,532 | 4,229 |
Consumer Portfolio Segment [Member] | ||||
Beginning balance | 47 | 226 | 122 | 274 |
Provision (negative provision) for loan losses | (26) | (73) | (259) | (51) |
Loans charged off | (21) | (70) | (56) | (200) |
Recoveries | 23 | 98 | 216 | 158 |
Ending balance | 23 | 181 | 23 | 181 |
Agriculture Portfolio Segment [Member] | ||||
Beginning balance | 119 | 359 | 122 | 319 |
Provision (negative provision) for loan losses | 79 | (120) | (1) | (13) |
Loans charged off | (5) | (41) | (13) | (111) |
Recoveries | 1 | 2 | 86 | 5 |
Ending balance | 194 | 200 | 194 | 200 |
Other Portfolio Segment [Member] | ||||
Beginning balance | 1 | 5 | 2 | 7 |
Provision (negative provision) for loan losses | (30) | (4) | 15 | (3) |
Loans charged off | (1) | (14) | (79) | (47) |
Recoveries | 33 | 15 | 65 | 45 |
Ending balance | 3 | 2 | 3 | 2 |
Beginning balance | 10,104 | 16,809 | 12,041 | 19,364 |
Provision (negative provision) for loan losses | (750) | (2,200) | (1,900) | (2,200) |
Loans charged off | (405) | (1,580) | (2,082) | (5,171) |
Recoveries | 540 | 1,169 | 1,430 | 2,205 |
Ending balance | $ 9,489 | $ 14,198 | $ 9,489 | $ 14,198 |
Note 4 - Loans - Balance in All
Note 4 - Loans - Balance in Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Bases on Impairment Method (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Commercial Portfolio Segment [Member] | ||
Allowance for loan losses: | ||
Individually evaluated for impairment | $ 0 | $ 0 |
Collectively evaluated for impairment | 622,000 | 818,000 |
Total ending allowance balance | 622,000 | 818,000 |
Loans individually evaluated for impairment | 571,000 | 1,112,000 |
Loans collectively evaluated for impairment | 84,429,000 | 85,064,000 |
Total ending loans balance | 85,000,000 | 86,176,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Allowance for loan losses: | ||
Individually evaluated for impairment | 41,000 | 43,000 |
Collectively evaluated for impairment | 5,074,000 | 6,950,000 |
Total ending allowance balance | 5,115,000 | 6,993,000 |
Loans individually evaluated for impairment | 6,568,000 | 12,819,000 |
Loans collectively evaluated for impairment | 249,281,000 | 237,317,000 |
Total ending loans balance | 255,849,000 | 250,136,000 |
Residential Portfolio Segment [Member] | ||
Allowance for loan losses: | ||
Individually evaluated for impairment | 297,000 | 385,000 |
Collectively evaluated for impairment | 3,235,000 | 3,599,000 |
Total ending allowance balance | 3,532,000 | 3,984,000 |
Loans individually evaluated for impairment | 8,940,000 | 17,673,000 |
Loans collectively evaluated for impairment | 219,626,000 | 227,936,000 |
Total ending loans balance | 228,566,000 | 245,609,000 |
Consumer Portfolio Segment [Member] | ||
Allowance for loan losses: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 23,000 | 122,000 |
Total ending allowance balance | 23,000 | 122,000 |
Loans individually evaluated for impairment | 1,000 | 20,000 |
Loans collectively evaluated for impairment | 9,751,000 | 9,990,000 |
Total ending loans balance | 9,752,000 | 10,010,000 |
Agriculture Portfolio Segment [Member] | ||
Allowance for loan losses: | ||
Individually evaluated for impairment | 1,000 | 0 |
Collectively evaluated for impairment | 193,000 | 122,000 |
Total ending allowance balance | 194,000 | 122,000 |
Loans individually evaluated for impairment | 134,000 | 152,000 |
Loans collectively evaluated for impairment | 41,630,000 | 26,164,000 |
Total ending loans balance | 41,764,000 | 26,316,000 |
Other Portfolio Segment [Member] | ||
Allowance for loan losses: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 3,000 | 2,000 |
Total ending allowance balance | 3,000 | 2,000 |
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 766,000 | 419,000 |
Total ending loans balance | 766,000 | 419,000 |
Individually evaluated for impairment | 339,000 | 428,000 |
Collectively evaluated for impairment | 9,150,000 | 11,613,000 |
Total ending allowance balance | 9,489,000 | 12,041,000 |
Loans individually evaluated for impairment | 16,214,000 | 31,776,000 |
Loans collectively evaluated for impairment | 605,483,000 | 586,890,000 |
Total ending loans balance | $ 621,697,000 | $ 618,666,000 |
Note 4 - Loans - Loans Individu
Note 4 - Loans - Loans Individually Evaluated for Impairment by Class of Loans (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Commercial Portfolio Segment [Member] | |||||
Unpaid principal balance, with no related allowance recorded | $ 784,000 | $ 784,000 | $ 1,558,000 | ||
Recorded investment, with no related allowance recorded | 571,000 | 571,000 | 1,112,000 | ||
Average recorded investment, with no related allowance recorded | 659,000 | $ 1,439,000 | 824,000 | $ 1,630,000 | |
Interest income recognized, with no related allowance recorded | 0 | 0 | 1,000 | 5,000 | |
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 4,000 | 0 | 16,000 | |
Interest income recognized, with an allowance recorded | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 278,000 | ||||
Recorded investment, with no related allowance recorded | 262,000 | ||||
Average recorded investment, with no related allowance recorded | 129,000 | 833,000 | 195,000 | 2,426,000 | |
Interest income recognized, with no related allowance recorded | 3,000 | 3,000 | 9,000 | 11,000 | |
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized, with an allowance recorded | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 6,040,000 | 6,040,000 | 6,004,000 | ||
Recorded investment, with no related allowance recorded | 4,216,000 | 4,216,000 | 4,263,000 | ||
Average recorded investment, with no related allowance recorded | 4,404,000 | 4,305,000 | 4,299,000 | 4,555,000 | |
Interest income recognized, with no related allowance recorded | 79,000 | 34,000 | 87,000 | 60,000 | |
Unpaid principal balance, with an allowance recorded | 614,000 | 614,000 | 0 | ||
Recorded investment, with an allowance recorded | 595,000 | 595,000 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 6,000 | 6,000 | 0 | ||
Average recorded investment, with an allowance recorded | 600,000 | 0 | 300,000 | 79,000 | |
Interest income recognized, with an allowance recorded | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 6,000 | 6,000 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 4,669,000 | 4,669,000 | 11,256,000 | ||
Recorded investment, with no related allowance recorded | 1,354,000 | 1,354,000 | 7,829,000 | ||
Average recorded investment, with no related allowance recorded | 4,023,000 | 13,347,000 | 5,569,000 | 18,133,000 | |
Interest income recognized, with no related allowance recorded | 2,000 | 65,000 | 308,000 | 202,000 | |
Unpaid principal balance, with an allowance recorded | 403,000 | 403,000 | 574,000 | ||
Recorded investment, with an allowance recorded | 403,000 | 403,000 | 465,000 | ||
Allowance for loan losses allocated, with an allowance recorded | 35,000 | 35,000 | 43,000 | ||
Average recorded investment, with an allowance recorded | 405,000 | 2,708,000 | 421,000 | 5,622,000 | |
Interest income recognized, with an allowance recorded | 6,000 | 6,000 | 18,000 | 18,000 | |
Impaired Financing Receivable, Related Allowance | 35,000 | 35,000 | 43,000 | ||
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 4,121,000 | 4,121,000 | 32,000 | ||
Recorded investment, with no related allowance recorded | 4,121,000 | 4,121,000 | 32,000 | ||
Average recorded investment, with no related allowance recorded | 3,254,000 | 33,000 | 2,235,000 | 37,000 | |
Interest income recognized, with no related allowance recorded | 179,000 | 0 | 237,000 | 0 | |
Unpaid principal balance, with an allowance recorded | 4,195,000 | ||||
Recorded investment, with an allowance recorded | 4,195,000 | ||||
Allowance for loan losses allocated, with an allowance recorded | 57,000 | ||||
Average recorded investment, with an allowance recorded | 2,080,000 | 4,216,000 | 3,133,000 | 4,237,000 | |
Interest income recognized, with an allowance recorded | 51,000 | 101,000 | 153,000 | ||
Impaired Financing Receivable, Related Allowance | 57,000 | ||||
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 4,185,000 | 4,185,000 | 14,066,000 | ||
Recorded investment, with no related allowance recorded | 3,086,000 | 3,086,000 | 11,756,000 | ||
Average recorded investment, with no related allowance recorded | 3,523,000 | 13,163,000 | 6,159,000 | 14,040,000 | |
Interest income recognized, with no related allowance recorded | 14,000 | 96,000 | 85,000 | 340,000 | |
Unpaid principal balance, with an allowance recorded | 2,179,000 | 2,179,000 | 1,690,000 | ||
Recorded investment, with an allowance recorded | 1,733,000 | 1,733,000 | 1,690,000 | ||
Allowance for loan losses allocated, with an allowance recorded | 297,000 | 297,000 | 328,000 | ||
Average recorded investment, with an allowance recorded | 1,656,000 | 1,691,000 | 1,671,000 | 1,709,000 | |
Interest income recognized, with an allowance recorded | 20,000 | 29,000 | 74,000 | 68,000 | |
Impaired Financing Receivable, Related Allowance | 297,000 | 297,000 | 328,000 | ||
Consumer Portfolio Segment [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 34,000 | 34,000 | 118,000 | ||
Recorded investment, with no related allowance recorded | 1,000 | 1,000 | 20,000 | ||
Average recorded investment, with no related allowance recorded | 4,000 | 23,000 | 8,000 | 25,000 | |
Interest income recognized, with no related allowance recorded | 0 | 8,000 | 0 | ||
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 0 | 0 | 10,000 | |
Interest income recognized, with an allowance recorded | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||
Agriculture Portfolio Segment [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 97,000 | 97,000 | 260,000 | ||
Recorded investment, with no related allowance recorded | 69,000 | 69,000 | 152,000 | ||
Average recorded investment, with no related allowance recorded | 69,000 | 191,000 | 92,000 | 219,000 | |
Interest income recognized, with no related allowance recorded | 0 | 0 | 0 | 0 | |
Unpaid principal balance, with an allowance recorded | 78,000 | 78,000 | 0 | ||
Recorded investment, with an allowance recorded | 65,000 | 65,000 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 1,000 | 1,000 | 0 | ||
Average recorded investment, with an allowance recorded | 68,000 | 0 | 34,000 | 0 | |
Interest income recognized, with an allowance recorded | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 1,000 | 1,000 | 0 | ||
Other Portfolio Segment [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with no related allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with no related allowance recorded | 0 | 0 | 0 | 61,000 | |
Interest income recognized, with no related allowance recorded | 0 | 1,000 | 0 | 5,000 | |
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized, with an allowance recorded | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with no related allowance recorded | 19,930,000 | 19,930,000 | 33,572,000 | ||
Recorded investment, with no related allowance recorded | 13,418,000 | 13,418,000 | 25,426,000 | ||
Average recorded investment, with no related allowance recorded | 16,065,000 | 33,334,000 | 19,381,000 | 41,126,000 | |
Interest income recognized, with no related allowance recorded | 277,000 | 199,000 | 735,000 | 623,000 | |
Unpaid principal balance, with an allowance recorded | 3,274,000 | 3,274,000 | 6,459,000 | ||
Recorded investment, with an allowance recorded | 2,796,000 | 2,796,000 | 6,350,000 | ||
Allowance for loan losses allocated, with an allowance recorded | 339,000 | 339,000 | 428,000 | ||
Average recorded investment, with an allowance recorded | 4,809,000 | 8,619,000 | 5,559,000 | 11,673,000 | |
Interest income recognized, with an allowance recorded | 26,000 | 86,000 | 193,000 | 239,000 | |
Unpaid principal balance, total | 23,204,000 | 23,204,000 | 40,031,000 | ||
Recorded investment, total | 16,214,000 | 16,214,000 | 31,776,000 | ||
Impaired Financing Receivable, Related Allowance | 339,000 | 339,000 | $ 428,000 | ||
Average recorded investment, total | 20,874,000 | 41,953,000 | 24,940,000 | 52,799,000 | |
Interest income recognized, total | $ 303,000 | $ 285,000 | $ 928,000 | $ 862,000 |
Note 4 - Loans - Types of Troub
Note 4 - Loans - Types of Troubled Debt Restructuring Loan Modification by Portfolio Segment (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Performing Financial Instruments [Member] | ||
Troubled Debt Restructuring | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled Debt Restructuring | 33,000 | 68,000 |
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Troubled Debt Restructuring | 33,000 | 68,000 |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | Performing Financial Instruments [Member] | ||
Troubled Debt Restructuring | 0 | 0 |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled Debt Restructuring | 439,000 | 439,000 |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||
Troubled Debt Restructuring | 439,000 | 439,000 |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||
Troubled Debt Restructuring | 0 | 262,000 |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Performing Financial Instruments [Member] | Nonfarm Nonresidential [Member] | ||
Troubled Debt Restructuring | 610,000 | 5,637,000 |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||
Troubled Debt Restructuring | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Nonperforming Financial Instruments [Member] | Nonfarm Nonresidential [Member] | ||
Troubled Debt Restructuring | 0 | 50,000 |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Construction Loans [Member] | ||
Troubled Debt Restructuring | 0 | 262,000 |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Nonfarm Nonresidential [Member] | ||
Troubled Debt Restructuring | 610,000 | 5,687,000 |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | Performing Financial Instruments [Member] | Farmland Loans [Member] | ||
Troubled Debt Restructuring | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | Performing Financial Instruments [Member] | Nonfarm Nonresidential [Member] | ||
Troubled Debt Restructuring | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | Nonperforming Financial Instruments [Member] | Farmland Loans [Member] | ||
Troubled Debt Restructuring | 2,300,000 | 2,365,000 |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | Nonperforming Financial Instruments [Member] | Nonfarm Nonresidential [Member] | ||
Troubled Debt Restructuring | 607,000 | 622,000 |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | Farmland Loans [Member] | ||
Troubled Debt Restructuring | 2,300,000 | 2,365,000 |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | Nonfarm Nonresidential [Member] | ||
Troubled Debt Restructuring | 607,000 | 622,000 |
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Performing Financial Instruments [Member] | Multifamily Loans [Member] | ||
Troubled Debt Restructuring | 4,121,000 | 4,195,000 |
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Performing Financial Instruments [Member] | One- to Four-family Residential Properties [Member] | ||
Troubled Debt Restructuring | 1,383,000 | 7,346,000 |
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Nonperforming Financial Instruments [Member] | Multifamily Loans [Member] | ||
Troubled Debt Restructuring | 0 | 0 |
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Nonperforming Financial Instruments [Member] | One- to Four-family Residential Properties [Member] | ||
Troubled Debt Restructuring | 0 | 0 |
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Multifamily Loans [Member] | ||
Troubled Debt Restructuring | 4,121,000 | 4,195,000 |
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | One- to Four-family Residential Properties [Member] | ||
Troubled Debt Restructuring | 1,383,000 | 7,346,000 |
Performing Financial Instruments [Member] | ||
Troubled Debt Restructuring | 6,114,000 | 17,440,000 |
Nonperforming Financial Instruments [Member] | ||
Troubled Debt Restructuring | 3,379,000 | 3,544,000 |
Troubled Debt Restructuring | $ 9,493,000 | $ 20,984,000 |
Note 4 - Loans - Recorded Inves
Note 4 - Loans - Recorded Investment in Nonaccrual and Loans Past Due 90 Days and Still on Accrual by Class of Loan (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Commercial Portfolio Segment [Member] | ||
Nonaccrual | $ 571,000 | $ 1,112,000 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Nonaccrual | 0 | 0 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Nonaccrual | 4,811,000 | 4,263,000 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Nonaccrual | 1,147,000 | 2,657,000 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Nonaccrual | 0 | 32,000 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Nonaccrual | 3,435,000 | 5,851,000 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Nonaccrual | 1,000 | 20,000 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Agriculture Portfolio Segment [Member] | ||
Nonaccrual | 134,000 | 152,000 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Other Portfolio Segment [Member] | ||
Nonaccrual | 0 | 0 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Nonaccrual | 10,099,000 | 14,087,000 |
Loans Past Due 90 Days and Over Still Accruing | $ 0 | $ 0 |
Note 4 - Loans - Aging of Recor
Note 4 - Loans - Aging of Recorded Investment in Past Due Loans (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | $ 0 | $ 78,000 |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Nonaccrual | 571,000 | 1,112,000 |
Total past due and nonaccrual | 571,000 | 1,190,000 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Farmland Loans [Member] | ||
Past due | 156,000 | 456,000 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Nonfarm Nonresidential [Member] | ||
Past due | 0 | 326,000 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Farmland Loans [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Nonfarm Nonresidential [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Farmland Loans [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Nonfarm Nonresidential [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Nonaccrual | 0 | 0 |
Total past due and nonaccrual | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Nonaccrual | 4,811,000 | 4,263,000 |
Total past due and nonaccrual | 4,967,000 | 4,719,000 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Nonaccrual | 1,147,000 | 2,657,000 |
Total past due and nonaccrual | 1,147,000 | 2,983,000 |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Multifamily Loans [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | One- to Four-family Residential Properties [Member] | ||
Past due | 2,087,000 | 2,225,000 |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Multifamily Loans [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One- to Four-family Residential Properties [Member] | ||
Past due | 270,000 | 241,000 |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Multifamily Loans [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One- to Four-family Residential Properties [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Nonaccrual | 0 | 32,000 |
Total past due and nonaccrual | 0 | 32,000 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Nonaccrual | 3,435,000 | 5,851,000 |
Total past due and nonaccrual | 5,792,000 | 8,317,000 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 65,000 | 41,000 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 3,000 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Nonaccrual | 1,000 | 20,000 |
Total past due and nonaccrual | 69,000 | 61,000 |
Agriculture Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 27,000 | 7,000 |
Agriculture Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 0 |
Agriculture Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Agriculture Portfolio Segment [Member] | ||
Nonaccrual | 134,000 | 152,000 |
Total past due and nonaccrual | 161,000 | 159,000 |
Other Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 0 | 0 |
Other Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 0 |
Other Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Other Portfolio Segment [Member] | ||
Nonaccrual | 0 | 0 |
Total past due and nonaccrual | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 2,335,000 | 3,133,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 273,000 | 241,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Nonaccrual | 10,099,000 | 14,087,000 |
Total past due and nonaccrual | $ 12,707,000 | $ 17,461,000 |
Note 4 - Loans - Risk Category
Note 4 - Loans - Risk Category of Loans by Class of Loans (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Gross loans | $ 83,466,000 | $ 81,570,000 |
Commercial Portfolio Segment [Member] | Watch [Member] | ||
Gross loans | 525,000 | 2,953,000 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Gross loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Gross loans | 1,009,000 | 1,653,000 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Gross loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Gross loans | 85,000,000 | 86,176,000 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||
Gross loans | 28,881,000 | 27,603,000 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Farmland Loans [Member] | ||
Gross loans | 73,324,000 | 65,476,000 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 124,094,000 | 111,901,000 |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | Construction Loans [Member] | ||
Gross loans | 5,211,000 | 5,289,000 |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | Farmland Loans [Member] | ||
Gross loans | 2,717,000 | 4,844,000 |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 11,707,000 | 22,687,000 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Construction Loans [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Farmland Loans [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 533,000 | 1,328,000 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | ||
Gross loans | 86,000 | 262,000 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Farmland Loans [Member] | ||
Gross loans | 7,279,000 | 6,092,000 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 2,017,000 | 4,654,000 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Construction Loans [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Farmland Loans [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 34,178,000 | 33,154,000 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Gross loans | 83,320,000 | 76,412,000 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 138,351,000 | 140,570,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Gross loans | 255,849,000 | 250,136,000 |
Residential Portfolio Segment [Member] | Pass [Member] | Multifamily Loans [Member] | ||
Gross loans | 28,218,000 | 35,300,000 |
Residential Portfolio Segment [Member] | Pass [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 170,439,000 | 164,490,000 |
Residential Portfolio Segment [Member] | Watch [Member] | Multifamily Loans [Member] | ||
Gross loans | 4,485,000 | 4,879,000 |
Residential Portfolio Segment [Member] | Watch [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 12,941,000 | 17,636,000 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Multifamily Loans [Member] | ||
Gross loans | 0 | 0 |
Residential Portfolio Segment [Member] | Special Mention [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 70,000 | 67,000 |
Residential Portfolio Segment [Member] | Substandard [Member] | Multifamily Loans [Member] | ||
Gross loans | 3,855,000 | 3,952,000 |
Residential Portfolio Segment [Member] | Substandard [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 8,558,000 | 19,285,000 |
Residential Portfolio Segment [Member] | Doubtful [Member] | Multifamily Loans [Member] | ||
Gross loans | 0 | 0 |
Residential Portfolio Segment [Member] | Doubtful [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 0 | 0 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Gross loans | 36,558,000 | 44,131,000 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 192,008,000 | 201,478,000 |
Residential Portfolio Segment [Member] | ||
Gross loans | 228,566,000 | 245,609,000 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Gross loans | 9,274,000 | 9,323,000 |
Consumer Portfolio Segment [Member] | Watch [Member] | ||
Gross loans | 399,000 | 474,000 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Gross loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Gross loans | 79,000 | 213,000 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Gross loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Gross loans | 9,752,000 | 10,010,000 |
Agriculture Portfolio Segment [Member] | Pass [Member] | ||
Gross loans | 32,613,000 | 21,402,000 |
Agriculture Portfolio Segment [Member] | Watch [Member] | ||
Gross loans | 8,064,000 | 4,601,000 |
Agriculture Portfolio Segment [Member] | Special Mention [Member] | ||
Gross loans | 0 | 0 |
Agriculture Portfolio Segment [Member] | Substandard [Member] | ||
Gross loans | 1,087,000 | 313,000 |
Agriculture Portfolio Segment [Member] | Doubtful [Member] | ||
Gross loans | 0 | 0 |
Agriculture Portfolio Segment [Member] | ||
Gross loans | 41,764,000 | 26,316,000 |
Other Portfolio Segment [Member] | Pass [Member] | ||
Gross loans | 766,000 | 419,000 |
Other Portfolio Segment [Member] | Watch [Member] | ||
Gross loans | 0 | 0 |
Other Portfolio Segment [Member] | Special Mention [Member] | ||
Gross loans | 0 | 0 |
Other Portfolio Segment [Member] | Substandard [Member] | ||
Gross loans | 0 | |
Other Portfolio Segment [Member] | Doubtful [Member] | ||
Gross loans | 0 | 0 |
Other Portfolio Segment [Member] | ||
Gross loans | 766,000 | 419,000 |
Pass [Member] | ||
Gross loans | 551,075,000 | 517,484,000 |
Watch [Member] | ||
Gross loans | 46,049,000 | 63,363,000 |
Special Mention [Member] | ||
Gross loans | 603,000 | 1,395,000 |
Substandard [Member] | ||
Gross loans | 23,970,000 | 36,424,000 |
Doubtful [Member] | ||
Gross loans | 0 | 0 |
Gross loans | $ 621,697,000 | $ 618,666,000 |
Note 5 - Other Real Estate Ow48
Note 5 - Other Real Estate Owned (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
One- to Four-family Residential Properties [Member] | |||||
Mortgage Loans in Process of Foreclosure, Amount | $ 431,000 | $ 431,000 | $ 934,000 | ||
Foreclosed Real Estate Rental Income | $ 46,000 | $ 380,000 | $ 451,000 | $ 1,109,000 |
Note 5 - Other Real Estate Ow49
Note 5 - Other Real Estate Owned - Major Categories of OREO (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Commercial Real Estate Portfolio Segment [Member] | Construction, Land Development, and Other Land Loans [Member] | ||||||
Other real estate owned, gross | $ 6,781 | $ 12,749 | ||||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||||||
Other real estate owned, gross | 18 | 6,967 | ||||
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||||||
Other real estate owned, gross | 299 | 128 | ||||
Other real estate owned, gross | 7,098 | 19,844 | ||||
Valuation allowance | $ (441) | (630) | $ (300) | $ (307) | $ (1,066) | |
$ 7,098 | $ 19,214 | $ 29,177 | $ 46,197 |
Note 5 - Other Real Estate Ow50
Note 5 - Other Real Estate Owned - OREO Valuation Allowance Activity (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
OREO Valuation Allowance Activity: | ||||
Beginning balance | $ 441,000 | $ 307,000 | $ 630,000 | $ 1,066,000 |
Provision to allowance | 320,000 | 4,450,000 | 970,000 | 7,080,000 |
Write-downs | (761,000) | (4,457,000) | (1,600,000) | (7,846,000) |
Ending balance | $ 300,000 | $ 300,000 |
Note 5 - Other Real Estate Ow51
Note 5 - Other Real Estate Owned - Activity Relating to Other Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
OREO Activity | ||||
OREO as of January 1 | $ 19,214 | $ 46,197 | ||
Real estate acquired | 1,243 | 4,450 | ||
Valuation adjustment write-downs | $ (320) | $ (4,450) | (970) | (7,080) |
Net gain on sales | 52 | (16) | 221 | 27 |
Proceeds from sale of properties | (12,610) | (14,417) | ||
OREO as of September 30 | $ 7,098 | $ 29,177 | $ 7,098 | $ 29,177 |
Note 5 - Other Real Estate Ow52
Note 5 - Other Real Estate Owned - Expenses Related to Other Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net gain on sales of other real estate owned | $ (52) | $ 16 | $ (221) | $ (27) |
Provision to allowance | 320 | 4,450 | 970 | 7,080 |
Operating expense | 54 | 665 | 535 | 1,743 |
Total | $ 322 | $ 5,131 | $ 1,284 | $ 8,796 |
Note 6 - Deposits (Details Text
Note 6 - Deposits (Details Textual) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Time Deposits, at or Above FDIC Insurance Limit | $ 28.2 | $ 28.4 |
Note 6 - Deposits - Deposit Bal
Note 6 - Deposits - Deposit Balances by Category (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Non-interest bearing | $ 119,005 | $ 120,043 |
Interest checking | 88,386 | 97,515 |
Money market | 140,995 | 125,935 |
Savings | 33,816 | 34,677 |
Certificates of deposit | 454,742 | 499,827 |
Total | $ 836,944 | $ 877,997 |
Note 6 - Deposits - Maturities
Note 6 - Deposits - Maturities of Time Deposits (Details) $ in Thousands | Sep. 30, 2016USD ($) |
Year 1 | $ 293,430 |
Year 2 | 89,256 |
Year 3 | 21,352 |
Year 4 | 41,930 |
Year 5 | 8,774 |
$ 454,742 |
Note 7 - Advances From the Fe56
Note 7 - Advances From the Federal Home Loan Bank (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Maximum [Member] | Federal Home Loan Bank Advances [Member] | ||
Debt Instrument, Term | 1 year | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Repayment and Penalties | $ 0 | $ 0 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 27,700,000 |
Note 7 - Advances From Federal
Note 7 - Advances From Federal Home Loan Bank - Advances From the Federal Home Loan Bank (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank advances | $ 2,619 | $ 3,081 |
Note 7 - Advances From Federa58
Note 7 - Advances From Federal Home Loan Bank - Advances From the Federal Home Loan Bank (Details) (Parentheticals) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Minimum [Member] | ||
Advances from the FHLB, fixed rate | 0.00% | 0.00% |
Maximum [Member] | ||
Advances from the FHLB, fixed rate | 5.25% | 5.25% |
Advances from the FHLB, earliest maturity | 2,017 | 2,017 |
Advances from the FHLB, latest maturity | 2,033 | 2,033 |
Advances from the FHLB, average interest rate | 2.42% | 2.65% |
Note 8 - Fair Values Measurem59
Note 8 - Fair Values Measurement (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Routine Real Estate Collateral [Member] | Impaired Loans [Member] | |||||
Fair Value Inputs, Discount Rate | 10.00% | ||||
Routine Real Estate Collateral [Member] | Other Real Estate Owned [Member] | |||||
Fair Value Inputs, Discount Rate | 10.00% | ||||
Thin Trading Market or Specialized Collateral [Member] | Impaired Loans [Member] | |||||
Fair Value Inputs, Discount Rate | 25.00% | ||||
Thin Trading Market or Specialized Collateral [Member] | Other Real Estate Owned [Member] | |||||
Fair Value Inputs, Discount Rate | 25.00% | ||||
Impaired Loans [Member] | Minimum [Member] | |||||
Fair Value Inputs, Discount Rate | 10.00% | ||||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 6.00% | ||||
Impaired Loans [Member] | Maximum [Member] | |||||
Fair Value Inputs, Discount Rate | 33.00% | ||||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 10.00% | ||||
Impaired Loans [Member] | |||||
Impaired Financing Receivable Provision for Loan Losses | $ 220,000 | $ 0 | $ 0 | $ 0 | |
Impaired Financing Receivable, Related Allowance | 309,000 | 369,000 | $ 309,000 | 369,000 | $ 337,000 |
Minimum [Member] | Other Real Estate Owned [Member] | |||||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 6.00% | ||||
Maximum [Member] | Other Real Estate Owned [Member] | |||||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 10.00% | ||||
Measured for Impairment Using Fair Value of Collateral [Member] | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 2,500,000 | 2,200,000 | $ 2,500,000 | 2,200,000 | 1,800,000 |
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | 6.50% | |||
Debt Instrument, Interest Rate, Effective Percentage | 8.25% | 8.25% | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 2,796,000 | $ 2,796,000 | 6,350,000 | ||
Impaired Financing Receivable, Related Allowance | 339,000 | 339,000 | 428,000 | ||
Other Repossessed Assets | 7,100,000 | 29,200,000 | 7,100,000 | 29,200,000 | $ 19,200,000 |
Real Estate Owned, Valuation Allowance, Amounts Applied | $ 761,000 | $ 4,457,000 | $ 1,600,000 | $ 7,846,000 |
Note 8 - Fair Values Measurem60
Note 8 - Fair Values Measurement - Financial Assets Measured at Fair Value on Recurring and Non-recurring Basis (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | $ 0 | $ 0 |
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 35,738,000 | 33,262,000 |
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale | 35,738,000 | 33,262,000 |
US Treasury and Government [Member] | ||
Securities available for sale | 35,738,000 | 33,262,000 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 101,461,000 | 102,662,000 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale | 101,461,000 | 102,662,000 |
Residential Mortgage Backed Securities [Member] | ||
Securities available for sale | 101,461,000 | 102,662,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 2,198,000 | 6,861,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale | 2,198,000 | 6,861,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 2,198,000 | 6,861,000 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 3,036,000 | 2,193,000 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale | 3,036,000 | 2,193,000 |
Corporate Debt Securities [Member] | ||
Securities available for sale | 3,036,000 | 2,193,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 142,433,000 | 144,978,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale | 142,433,000 | 144,978,000 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Impaired Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Construction Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Farmland Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Nonfarm Nonresidential [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Construction Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Farmland Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Nonfarm Nonresidential [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Construction Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Farmland Loans [Member] | ||
Impaired loans | 589,000 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Nonfarm Nonresidential [Member] | ||
Impaired loans | 91,000 | 139,000 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Construction Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Farmland Loans [Member] | ||
Impaired loans | 589,000 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Nonfarm Nonresidential [Member] | ||
Impaired loans | 91,000 | 139,000 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | Construction Loans [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | Farmland Loans [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | Nonfarm Nonresidential [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | Construction Loans [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | Farmland Loans [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | Nonfarm Nonresidential [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Construction Loans [Member] | ||
Other real-estate | 6,781,000 | 12,344,000 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Farmland Loans [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Nonfarm Nonresidential [Member] | ||
Other real-estate | 18,000 | 6,746,000 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Construction Loans [Member] | ||
Other real-estate | 6,781,000 | 12,344,000 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Farmland Loans [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Nonfarm Nonresidential [Member] | ||
Other real-estate | 18,000 | 6,746,000 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Multifamily Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | One- to Four-family Residential Properties [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Multifamily Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | One- to Four-family Residential Properties [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Multifamily Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | One- to Four-family Residential Properties [Member] | ||
Impaired loans | 1,436,000 | 1,362,000 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Impaired Loans [Member] | Multifamily Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Impaired Loans [Member] | One- to Four-family Residential Properties [Member] | ||
Impaired loans | 1,436,000 | 1,362,000 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | Multifamily Loans [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | One- to Four-family Residential Properties [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | Multifamily Loans [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | One- to Four-family Residential Properties [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Multifamily Loans [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | One- to Four-family Residential Properties [Member] | ||
Other real-estate | 299,000 | 124,000 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Multifamily Loans [Member] | ||
Other real-estate | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | One- to Four-family Residential Properties [Member] | ||
Other real-estate | 299,000 | 124,000 |
Fair Value, Measurements, Nonrecurring [Member] | Consumer Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Consumer Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Consumer Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Consumer Portfolio Segment [Member] | Impaired Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Agriculture Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Agriculture Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Agriculture Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 64,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Agriculture Portfolio Segment [Member] | Impaired Loans [Member] | ||
Impaired loans | 64,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Other Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Other Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Other Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Other Portfolio Segment [Member] | Impaired Loans [Member] | ||
Impaired loans | 0 | 0 |
Securities available for sale | 142,433,000 | 144,978,000 |
Impaired loans | $ 16,214,000 | $ 31,776,000 |
Note 8 - Fair Values Measurem61
Note 8 - Fair Values Measurement - Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs Level 3 (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Balances of recurring Level 3 assets at January 1 | $ 0 | $ 658,000 |
Included in other comprehensive income (loss) | 0 | (7,000) |
Balance of recurring Level 3 assets at September 30 | $ 0 | $ 651,000 |
Note 8 - Fair Values Measurem62
Note 8 - Fair Values Measurement - Qualitative Information About Level Three Fair Value Measurements for Financial Instruments Measured At Fair Value On Non-recurring Basis (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Inputs, Comparability Adjustments | 1.00% | 1.00% |
Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Inputs, Comparability Adjustments | 22.00% | 16.00% |
Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Comparability Adjustments | (10.00%) | (7.00%) |
Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Fair value | $ 1,436 | $ 1,362 |
Unobservable inputs | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Minimum [Member] | ||
Fair Value Inputs, Comparability Adjustments | 0.00% | 0.00% |
Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Maximum [Member] | ||
Fair Value Inputs, Comparability Adjustments | 20.00% | 30.00% |
Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Comparability Adjustments | (9.00%) | (12.00%) |
Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Fair value | $ 6,799 | $ 19,090 |
Unobservable inputs | 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] | Other Real Estate Owned [Member] | Minimum [Member] | ||
Fair Value Inputs, Comparability Adjustments | 18.00% | 10.00% |
Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Maximum [Member] | ||
Fair Value Inputs, Comparability Adjustments | 20.00% | 20.00% |
Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Comparability Adjustments | (19.00%) | (17.00%) |
Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Unobservable inputs | Discount or capitalization rate | Discount or capitalization rate |
Note 8 - Fair Values Measurem63
Note 8 - Fair Values Measurement - Carrying Amount and Estimated Fair Values of Financial Instruments (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | $ 63,844,000 | $ 93,335,000 |
Available-for-sale Securities | 142,433,000 | 144,978,000 |
Held to maturity securities, fair value | 41,883,000 | 42,075,000 |
Federal Home Loan Bank stock | 7,323,000 | 7,323,000 |
Loans held for sale | 134,000 | 186,000 |
Loans, net | 612,208,000 | 606,625,000 |
Accrued interest receivable | 3,067,000 | 3,116,000 |
Deposits | 836,944,000 | 877,997,000 |
Federal Home Loan Bank advances | 2,619,000 | 3,081,000 |
Subordinated capital notes | 3,375,000 | 4,050,000 |
Junior subordinated debentures | 21,000,000 | 21,000,000 |
Accrued interest payable | 590,000 | 2,805,000 |
Financial assets | ||
Cash and cash equivalents | 63,844,000 | 93,335,000 |
Available-for-sale Securities | 142,433,000 | 144,978,000 |
Held to maturity securities, fair value | 41,883,000 | 42,075,000 |
Federal Home Loan Bank stock | 7,323,000 | 7,323,000 |
Loans held for sale | 134,000 | 186,000 |
Loans, net | 612,208,000 | 606,625,000 |
Accrued interest receivable | 3,067,000 | 3,116,000 |
Financial liabilities | ||
Deposits | 836,944,000 | 877,997,000 |
Federal Home Loan Bank advances | 2,619,000 | 3,081,000 |
Subordinated capital notes | 3,375,000 | 4,050,000 |
Junior subordinated debentures | 21,000,000 | 21,000,000 |
Accrued interest payable | 590,000 | 2,805,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 51,594,000 | 79,498,000 |
Available-for-sale Securities | 0 | 0 |
Held to maturity securities, fair value | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Deposits | 119,005,000 | 120,043,000 |
Federal Home Loan Bank advances | 0 | 0 |
Subordinated capital notes | 0 | 0 |
Junior subordinated debentures | 0 | 0 |
Accrued interest payable | 0 | 0 |
Financial assets | ||
Cash and cash equivalents | 51,594,000 | 79,498,000 |
Available-for-sale Securities | 0 | 0 |
Held to maturity securities, fair value | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial liabilities | ||
Deposits | 119,005,000 | 120,043,000 |
Federal Home Loan Bank advances | 0 | 0 |
Subordinated capital notes | 0 | 0 |
Junior subordinated debentures | 0 | 0 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 12,250,000 | 13,837,000 |
Available-for-sale Securities | 142,433,000 | 144,978,000 |
Held to maturity securities, fair value | 44,815,000 | 44,253,000 |
Federal Home Loan Bank stock | 0 | 0 |
Loans held for sale | 134,000 | 186,000 |
Loans, net | 0 | 0 |
Accrued interest receivable | 1,033,000 | 1,111,000 |
Deposits | 707,176,000 | 739,152,000 |
Federal Home Loan Bank advances | 2,692,000 | 3,076,000 |
Subordinated capital notes | 0 | 0 |
Junior subordinated debentures | 0 | 0 |
Accrued interest payable | 396,000 | 422,000 |
Financial assets | ||
Cash and cash equivalents | 12,250,000 | 13,837,000 |
Available-for-sale Securities | 142,433,000 | 144,978,000 |
Held to maturity securities, fair value | 44,815,000 | 44,253,000 |
Federal Home Loan Bank stock | 0 | 0 |
Loans held for sale | 134,000 | 186,000 |
Loans, net | 0 | 0 |
Accrued interest receivable | 1,033,000 | 1,111,000 |
Financial liabilities | ||
Deposits | 707,176,000 | 739,152,000 |
Federal Home Loan Bank advances | 2,692,000 | 3,076,000 |
Subordinated capital notes | 0 | 0 |
Junior subordinated debentures | 0 | 0 |
Accrued interest payable | 396,000 | 422,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Available-for-sale Securities | 0 | 0 |
Held to maturity securities, fair value | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 618,572,000 | 614,162,000 |
Accrued interest receivable | 2,034,000 | 2,005,000 |
Deposits | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Subordinated capital notes | 3,303,000 | 3,933,000 |
Junior subordinated debentures | 13,260,000 | 12,810,000 |
Accrued interest payable | 194,000 | 2,383,000 |
Financial assets | ||
Cash and cash equivalents | 0 | 0 |
Available-for-sale Securities | 0 | 0 |
Held to maturity securities, fair value | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 618,572,000 | 614,162,000 |
Accrued interest receivable | 2,034,000 | 2,005,000 |
Financial liabilities | ||
Deposits | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Subordinated capital notes | 3,303,000 | 3,933,000 |
Junior subordinated debentures | 13,260,000 | 12,810,000 |
Accrued interest payable | 194,000 | 2,383,000 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 63,844,000 | |
Available-for-sale Securities | 142,433,000 | |
Held to maturity securities, fair value | 44,815,000 | |
Federal Home Loan Bank stock | 0 | |
Loans held for sale | 134,000 | |
Loans, net | 618,572,000 | |
Accrued interest receivable | 3,067,000 | |
Deposits | 826,181,000 | |
Federal Home Loan Bank advances | 2,692,000 | |
Subordinated capital notes | 3,303,000 | |
Junior subordinated debentures | 13,260,000 | |
Accrued interest payable | 590,000 | |
Financial assets | ||
Cash and cash equivalents | 63,844,000 | |
Available-for-sale Securities | 142,433,000 | |
Held to maturity securities, fair value | 44,815,000 | |
Federal Home Loan Bank stock | 0 | |
Loans held for sale | 134,000 | |
Loans, net | 618,572,000 | |
Accrued interest receivable | 3,067,000 | |
Financial liabilities | ||
Deposits | 826,181,000 | |
Federal Home Loan Bank advances | 2,692,000 | |
Subordinated capital notes | 3,303,000 | |
Junior subordinated debentures | 13,260,000 | |
Accrued interest payable | 590,000 | |
Cash and cash equivalents | 93,335,000 | |
Available-for-sale Securities | 142,433,000 | 144,978,000 |
Held to maturity securities, fair value | 44,815,000 | 44,253,000 |
Federal Home Loan Bank stock | 0 | |
Loans held for sale | 186,000 | |
Loans, net | 614,162,000 | |
Accrued interest receivable | 3,116,000 | |
Deposits | 859,195,000 | |
Federal Home Loan Bank advances | 3,076,000 | |
Subordinated capital notes | 3,933,000 | |
Junior subordinated debentures | 12,810,000 | |
Accrued interest payable | 2,805,000 | |
Cash and cash equivalents | 93,335,000 | |
Available-for-sale Securities | 142,433,000 | 144,978,000 |
Held to maturity securities, fair value | $ 44,815,000 | 44,253,000 |
Federal Home Loan Bank stock | 0 | |
Loans held for sale | 186,000 | |
Loans, net | 614,162,000 | |
Accrued interest receivable | 3,116,000 | |
Deposits | 859,195,000 | |
Federal Home Loan Bank advances | 3,076,000 | |
Subordinated capital notes | 3,933,000 | |
Junior subordinated debentures | 12,810,000 | |
Accrued interest payable | $ 2,805,000 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Jul. 10, 2015 | |
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 0 | $ 0 | 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | $ 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 | 1 |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Net operating loss carry-forward | $ 42,338,000 | $ 38,085,000 |
Allowance for loan losses | 3,321,000 | 4,214,000 |
Other real estate owned write-down | 3,293,000 | 7,619,000 |
Alternative minimum tax credit carry-forward | 692,000 | 692,000 |
Net assets from acquisitions | 673,000 | 671,000 |
Net unrealized loss on securities | 0 | 166,000 |
New market tax credit carry-forward | 208,000 | 208,000 |
Nonaccrual loan interest | 550,000 | 549,000 |
Other | 1,796,000 | 1,875,000 |
52,871,000 | 54,079,000 | |
Deferred tax liabilities: | ||
FHLB stock dividends | 928,000 | 928,000 |
Fixed assets | 142,000 | 176,000 |
Net unrealized gain on securities | 665,000 | 0 |
Other | 1,055,000 | 865,000 |
2,790,000 | 1,969,000 | |
Net deferred tax assets before valuation allowance | 50,081,000 | 52,110,000 |
Valuation allowance | (50,081,000) | (52,110,000) |
Net deferred tax asset | $ 0 | $ 0 |
Note 10 - Stock Plans and Sto66
Note 10 - Stock Plans and Stock Based Compensation (Details Textual) - USD ($) | Mar. 25, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 |
Stock Incentive Plan 2016 [Member] | Unvested Shares [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Stock Incentive Plan 2016 [Member] | Unvested Shares [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 10 years | |||||
Stock Incentive Plan 2016 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 232,512 | 232,512 | ||||
Restricted Stock Shares Cancelled | 538,479 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.82 | $ 0.91 | ||||
Non-Employee Directors Stock Incentive Plan 2006 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 89,622 | 89,622 | ||||
Share Based Compensation Arrangement by Share Based Payment Award Annual Award to Non Employee Directors Value | $ 25,000 | |||||
Service-based Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 800,000 | |||||
Share Based Compensation Arrangement by Share Based Payment Award Plan Modification Incremental Expense Recognized | $ 233,000 | |||||
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $ 0 | $ 0 | 0 | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Nonvested Intrinsic Value1 | 323,000 | $ 323,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.82 | |||||
Share-based Compensation | $ 148,000 | $ 132,000 | $ 315,000 | $ 313,000 |
Note 10 - Stock Plans and Sto67
Note 10 - Stock Plans and Stock Based Compensation - Unvested Share Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Stock Incentive Plan 2016 [Member] | ||
Outstanding, beginning (in shares) | 922,419 | 775,492 |
Outstanding, beginning (in dollars per share) | $ 0.96 | $ 1.33 |
Granted (in shares) | 177,290 | 915,740 |
Granted (in dollars per share) | $ 1.82 | $ 0.91 |
Vested (in shares) | (96,120) | (285,977) |
Vested (in dollars per share) | $ 1.51 | $ 1.33 |
Terminated (in shares) | 0 | (450,994) |
Terminated (in dollars per share) | $ 0 | $ 1.25 |
Forfeited (in shares) | (9,854) | (31,842) |
Forfeited (in dollars per share) | $ 1.23 | $ 1.13 |
Outstanding, ending (in shares) | 993,735 | 922,419 |
Outstanding, ending (in dollars per share) | $ 1.06 | $ 0.96 |
Granted (in dollars per share) | $ 1.82 |
Note 10 - Stock Plans and Sto68
Note 10 - Stock Plans and Stock Based Compensation - Unrecognized Stock Based Compensation Expense Related to Unvested Shares (Details) $ in Thousands | Sep. 30, 2016USD ($) |
October 2016 - December 2016 | $ 127 |
2,017 | 197 |
2,018 | 190 |
2,019 | 30 |
2020 & thereafter | $ 9 |
Note 11 - Earnings (Loss) Per69
Note 11 - Earnings (Loss) Per Share (Details Textual) - $ / shares | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Warrant [Member] | Common Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 330,561 | 330,561 |
Common Stock [Member] | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 15.88 | $ 15.88 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 0 | 0 |
Note 11 - Earnings (Loss) Per70
Note 11 - Earnings (Loss) Per Share - Basic and Diluted Loss Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Unvested Shares [Member] | ||||||
Earnings (loss) allocated to participating securities | $ 46,000 | $ (45,000) | $ 129,000 | $ (102,000) | ||
Basic | ||||||
Weighted average shares outstanding (in shares) | 1,034,143 | 1,087,340 | 977,062 | 1,002,867 | ||
Series C Preferred Stock [Member] | ||||||
Earnings (loss) allocated to participating securities | $ 0 | $ 0 | $ 0 | $ (236,000) | ||
Series B Preferred Stock [Member] | ||||||
Basic | ||||||
Weighted average shares outstanding (in shares) | 0 | 0 | 0 | 890,901 | ||
Series D Preferred Stock [Member] | ||||||
Basic | ||||||
Weighted average shares outstanding (in shares) | 0 | 0 | 0 | 1,419,341 | ||
Net income (loss) | $ 1,393,000 | $ (1,076,000) | $ 3,885,000 | $ (2,612,000) | $ (3,200,000) | $ (11,200,000) |
Earnings (loss) allocated to participating securities | 46,000 | (45,000) | 129,000 | (338,000) | ||
Net income (loss) attributable to common shareholders, basic and diluted | $ 1,347,000 | $ (1,031,000) | $ 3,756,000 | $ (2,274,000) | ||
Weighted average common shares including unvested common shares outstanding (in shares) | 31,115,223 | 25,768,887 | 29,488,087 | 25,626,610 | ||
Weighted average shares outstanding (in shares) | 30,081,080 | 24,681,547 | 28,511,025 | 22,313,501 | ||
Basic income (loss) per common share (in dollars per share) | $ 0.04 | $ (0.04) | $ 0.13 | $ (0.10) | ||
Diluted | ||||||
Add: Dilutive effects of assumed exercises of common stock warrants (in shares) | ||||||
Weighted average common shares and potential common shares (in shares) | 30,081,080 | 24,681,547 | 28,511,025 | 22,313,501 | ||
Diluted income (loss) per common share (in dollars per share) | $ 0.04 | $ (0.04) | $ 0.13 | $ (0.10) |
Note 12 - Capital Requirement71
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details Textual) - USD ($) $ in Billions | 9 Months Ended | ||
Sep. 30, 2016 | Jan. 01, 2019 | Dec. 31, 2015 | |
Scenario, Forecast [Member] | |||
Capital Conservation Buffer | 2.50% | ||
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 7.00% | ||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 8.50% | ||
Capital Required for Capital Adequacy to Risk Weighted Assets | 10.50% | ||
Consent Order [Member] | PBI Bank [Member] | |||
Capital Required for Capital Adequacy to Risk Weighted Assets | 12.00% | ||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 9.00% | ||
PBI Bank [Member] | |||
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | 4.50% | |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 6.00% | |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% | |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% | |
Maximum Asset for Opt Out Requirement in Capital Calculation | $ 250 | ||
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | 4.50% | |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 6.00% | |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% | |
Capital Conservation Buffer, Annual Phase-In | 0.625% | ||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Note 12 - Capital Requirement72
Note 12 - Capital Requirements and Restrictions on Retained Earnings - Ratios and Amounts of Risk-Adjusted Assets and the Leverage Ratios (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
PBI Bank [Member] | ||
Total risk-based capital (to risk-weighted assets) | ||
Total risk-based capital to risk-weighted assets, actual amount | $ 74,802 | $ 69,250 |
Total risk-based capital to risk-weighted assets, actual ratio | 11.18% | 10.58% |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 53,523 | $ 52,347 |
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 1 risk-based capital to risk-weighted assets, actual amount | $ 63,770 | $ 57,873 |
Total common equity Tier 1 risk-based capital to risk-weighted assets | 9.53% | 8.84% |
Total common equity Tier 1 risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 30,107 | $ 29,445 |
Total common equity Tier 1 risk-based capital to risk-weighted assets, for capital adequacy purposes, ratio | 4.50% | 4.50% |
Tier I capital (to risk-weighted assets) | ||
Tier 1 capital to risk-weighted assets, actual amount | $ 63,770 | $ 57,873 |
Tier 1 capital to risk-weighted assets, actual ratio | 9.53% | 8.84% |
Tier 1 capital to risk-weighted assets, for capital adequacy purposes, amount | $ 40,142 | $ 39,260 |
Tier 1 capital to risk-weighted assets, for capital adequacy purposes, ratio | 6.00% | 6.00% |
Tier I capital (to average assets) | ||
Tier 1 capital to average assets, actual amount | $ 63,770 | $ 57,873 |
Tier 1 capital to average assets, actual ratio | 6.97% | 6.08% |
Tier 1 capital to average assets, for capital adequacy purposes, amount | $ 36,572 | $ 38,085 |
Tier 1 capital to average assets, for capital adequacy purposes, ratio | 4.00% | 4.00% |
Total risk-based capital to risk-weighted assets, actual amount | $ 77,470 | $ 68,530 |
Total risk-based capital to risk-weighted assets, actual ratio | 11.57% | 10.46% |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 53,577 | $ 52,436 |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, ratio | 8.00% | 8.00% |
Total common equity Tier 1 risk-based capital to risk-weighted assets, actual amount | $ 42,659 | $ 33,368 |
Total common equity Tier 1 risk-based capital to risk-weighted assets | 6.37% | 5.09% |
Total common equity Tier 1 risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 30,137 | $ 29,495 |
Total common equity Tier 1 risk-based capital to risk-weighted assets, for capital adequacy purposes, ratio | 4.50% | 4.50% |
Tier 1 capital to risk-weighted assets, actual amount | $ 56,788 | $ 45,174 |
Tier 1 capital to risk-weighted assets, actual ratio | 8.48% | 6.89% |
Tier 1 capital to risk-weighted assets, for capital adequacy purposes, amount | $ 40,183 | $ 39,327 |
Tier 1 capital to risk-weighted assets, for capital adequacy purposes, ratio | 6.00% | 6.00% |
Tier 1 capital to average assets, actual amount | $ 56,788 | $ 45,174 |
Tier 1 capital to average assets, actual ratio | 6.21% | 4.74% |
Tier 1 capital to average assets, for capital adequacy purposes, amount | $ 36,601 | $ 38,131 |
Tier 1 capital to average assets, for capital adequacy purposes, ratio | 4.00% | 4.00% |
Note 12 - Capital Requirement73
Note 12 - Capital Requirements and Restrictions on Retained Earnings - Minimum Capital Ratios (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
PBI Bank [Member] | Consent Order [Member] | ||
Total capital to risk-weighted assets | $ 80,284 | |
Total capital to risk-weighted assets | 12.00% | |
Tier I capital to average assets | $ 82,287 | |
Tier I capital to average assets | 9.00% | |
PBI Bank [Member] | ||
Total capital to risk-weighted assets | $ 74,802 | $ 69,250 |
Total capital to risk-weighted assets | 11.18% | 10.58% |
Total capital to risk-weighted assets | $ 53,523 | $ 52,347 |
Total capital to risk-weighted assets | 8.00% | 8.00% |
Tier I capital to average assets | $ 63,770 | $ 57,873 |
Tier I capital to average assets | 6.97% | 6.08% |
Tier I capital to average assets | $ 36,572 | $ 38,085 |
Tier I capital to average assets | 4.00% | 4.00% |
Total capital to risk-weighted assets | $ 77,470 | $ 68,530 |
Total capital to risk-weighted assets | 11.57% | 10.46% |
Total capital to risk-weighted assets | $ 53,577 | $ 52,436 |
Total capital to risk-weighted assets | 8.00% | 8.00% |
Tier I capital to average assets | $ 56,788 | $ 45,174 |
Tier I capital to average assets | 6.21% | 4.74% |
Tier I capital to average assets | $ 36,601 | $ 38,131 |
Tier I capital to average assets | 4.00% | 4.00% |
Note 13 - Contingencies (Detail
Note 13 - Contingencies (Details Textual) | Jul. 16, 2013USD ($) | Jun. 18, 2010USD ($) | Dec. 31, 2009USD ($) | Sep. 30, 2016USD ($) |
Signature Point Litigation [Member] | Compensatory Damages [Member] | ||||
Loss Contingency, Damages Awarded, Value | $ 1,515,000 | |||
Signature Point Litigation [Member] | Punitive Damages [Member] | ||||
Loss Contingency, Damages Awarded, Value | $ 5,500,000 | |||
Signature Point Litigation [Member] | ||||
Loss Contingency Accrual | $ 1,500,000 | |||
Loss Contingency, Estimate of Possible Loss | $ 26,000,000 | |||
AIT Laboratories Employee Stock Ownership Plan Litigation [Member] | ||||
Alleged Imprudent and Disloyal Purchase of Stock Authorized | $ 90,000,000 | |||
Loss Contingency Accrual | $ 2,100,000 | |||
Loss Contingency, Number of Plaintiffs | 3 |