Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Jul. 31, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | Howard Bancorp Inc | |
Entity Central Index Key | 1,390,162 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | HBMD | |
Entity Common Stock, Shares Outstanding | 19,024,640 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 107,598 | $ 28,856 |
Federal funds sold | 363 | 116 |
Total cash and cash equivalents | 107,961 | 28,972 |
Securities available for sale, at fair value | 127,530 | 74,256 |
Securities held to maturity, at amortized cost | 9,250 | 9,250 |
Nonmarketable equity securities | 14,485 | 6,492 |
Loans held for sale, at fair value | 55,956 | 42,153 |
Loans and leases, net of unearned income | 1,609,978 | 936,608 |
Allowance for credit losses | (6,619) | (6,159) |
Net loans and leases | 1,603,359 | 930,449 |
Bank premises and equipment, net | 51,668 | 19,189 |
Goodwill | 71,278 | 603 |
Core deposit intangible | 13,116 | 1,743 |
Bank owned life insurance | 73,245 | 28,631 |
Other real estate owned | 4,115 | 1,549 |
Deferred tax assets, net | 31,023 | 813 |
Interest receivable and other assets | 19,263 | 5,850 |
Total assets | 2,182,249 | 1,149,950 |
LIABILITIES | ||
Noninterest-bearing deposits | 469,832 | 218,139 |
Interest-bearing deposits | 1,095,812 | 645,769 |
Total deposits | 1,565,644 | 863,908 |
Short-term borrowings | 189,112 | 130,385 |
Long-term borrowings | 127,575 | 18,535 |
Accrued expenses and other liabilities | 10,448 | 4,869 |
Total liabilities | 1,892,779 | 1,017,697 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' EQUITY | ||
Common stock - par value of $0.01 authorized 20,000,000 shares; issued and outstanding 19,008,960 shares at June 30, 2018 and 9,820,592 at December 31, 2017 | 190 | 98 |
Capital surplus | 275,581 | 110,387 |
Retained earnings | 14,152 | 22,105 |
Accumulated other comprehensive loss | (453) | (337) |
Total stockholders' equity | 289,470 | 132,253 |
Total liabilities and stockholders' equity | $ 2,182,249 | $ 1,149,950 |
Consolidated Balance Sheets _Pa
Consolidated Balance Sheets [Parenthetical] - $ / shares | Jun. 30, 2018 | Dec. 31, 2017 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 19,008,960 | 9,820,592 |
Common stock, shares outstanding | 19,008,960 | 9,820,592 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
INTEREST INCOME | ||||
Interest and fees on loans and leases | $ 19,788 | $ 10,281 | $ 33,366 | $ 19,742 |
Interest and dividends on securities | 1,116 | 340 | 1,684 | 626 |
Other interest income | 261 | 87 | 475 | 208 |
Total interest income | 21,165 | 10,708 | 35,525 | 20,576 |
INTEREST EXPENSE | ||||
Deposits | 1,729 | 941 | 3,079 | 1,825 |
Short-term borrowings | 717 | 195 | 1,407 | 336 |
Long-term borrowings | 839 | 75 | 1,011 | 167 |
Total interest expense | 3,285 | 1,211 | 5,497 | 2,328 |
NET INTEREST INCOME | 17,880 | 9,497 | 30,028 | 18,248 |
Provision for credit losses | 1,425 | 340 | 2,545 | 540 |
Net interest income after provision for credit losses | 16,455 | 9,157 | 27,483 | 17,708 |
NONINTEREST INCOME | ||||
Service charges on deposit accounts | 590 | 246 | 916 | 454 |
Realized and unrealized gains on mortgage banking activity | 1,623 | 3,167 | 3,439 | 5,968 |
Loss on the sale of securities | 0 | 0 | (139) | 0 |
Gain (loss) on the sale of portfolio loans | 0 | 5 | 0 | (179) |
Income from bank owned life insurance | 420 | 200 | 705 | 345 |
Loan fee income | 2,059 | 1,412 | 3,925 | 2,673 |
Other operating income | 925 | 262 | 1,475 | 490 |
Total noninterest income | 5,617 | 5,292 | 10,321 | 9,751 |
NONINTEREST EXPENSE | ||||
Compensation and benefits | 9,911 | 6,063 | 17,480 | 11,620 |
Occupancy and equipment | 2,617 | 1,034 | 4,167 | 2,096 |
Amortization of core deposit intangible | 863 | 136 | 1,222 | 271 |
Marketing and business development | 1,104 | 1,185 | 2,109 | 2,126 |
Professional fees | 717 | 417 | 1,023 | 840 |
Data processing fees | 1,047 | 480 | 1,648 | 956 |
Merger and restructuring expense | 5,698 | 0 | 15,673 | 0 |
FDIC assessment | 261 | 76 | 414 | 293 |
Other real estate owned | (3) | 93 | 19 | 117 |
Loan production expense | 1,309 | 950 | 2,252 | 1,880 |
Other operating expense | 1,616 | 781 | 2,285 | 1,516 |
Total noninterest expense | 25,140 | 11,215 | 48,292 | 21,715 |
(LOSS) INCOME BEFORE INCOME TAXES | (3,068) | 3,234 | (10,488) | 5,744 |
Income tax (benefit) expense | (791) | 1,196 | (2,535) | 2,140 |
NET (LOSS) INCOME | $ (2,277) | $ 2,038 | $ (7,953) | $ 3,604 |
NET (LOSS) INCOME PER COMMON SHARE | ||||
Basic | $ (0.12) | $ 0.21 | $ (0.50) | $ 0.39 |
Diluted | $ (0.12) | $ 0.21 | $ (0.50) | $ 0.39 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net (Loss) Income | $ (2,277) | $ 2,038 | $ (7,953) | $ 3,604 |
Other comprehensive (loss) income Investments available-for-sale: | ||||
Reclassification adjustment for loss | 0 | 0 | 139 | 0 |
Related income tax benefit | 0 | 0 | (38) | 0 |
Unrealized holding (losses) gains | 18 | 48 | (288) | 48 |
Related income tax benefit (expense) | (69) | (17) | 71 | (17) |
Comprehensive (loss) income | $ (2,328) | $ 2,069 | $ (8,069) | $ 3,635 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Capital surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] |
Balance at Dec. 31, 2016 | $ 85,790 | $ 70 | $ 71,021 | $ 14,849 | $ (150) |
Balance (in shares) at Dec. 31, 2016 | 6,991,072 | ||||
Net (loss) income | 3,604 | $ 0 | 0 | 3,604 | 0 |
Net unrealized (loss) gain on securities | 31 | 0 | 0 | 0 | 31 |
Common stock offering | 38,383 | $ 28 | 38,355 | 0 | 0 |
Common stock offering (in shares) | 2,760,000 | ||||
Director stock awards | 110 | $ 0 | 110 | 0 | 0 |
Director stock awards (in shares) | 6,604 | ||||
Exercise of options | 234 | $ 0 | 234 | 0 | 0 |
Exercise of options (in shares) | 19,759 | ||||
Stock-based compensation | 236 | $ 0 | 236 | 0 | 0 |
Stock-based compensation (in shares) | 18,668 | ||||
Balance at Jun. 30, 2017 | 128,388 | $ 98 | 109,956 | 18,453 | (119) |
Balance (in shares) at Jun. 30, 2017 | 9,796,103 | ||||
Balance at Dec. 31, 2017 | 132,253 | $ 98 | 110,387 | 22,105 | (337) |
Balance (in shares) at Dec. 31, 2017 | 9,820,592 | ||||
Net (loss) income | (7,953) | $ 0 | 0 | (7,953) | 0 |
Net unrealized (loss) gain on securities | (116) | 0 | 0 | 0 | (116) |
Acquisition of First Mariner Bank | 164,578 | $ 92 | 164,486 | 0 | 0 |
Acquisition of First Mariner Bank (in shares) | 9,143,222 | ||||
Director stock awards | 101 | $ 0 | 101 | 0 | 0 |
Director stock awards (in shares) | 4,800 | ||||
Exercise of options | 35 | $ 0 | 35 | 0 | 0 |
Exercise of options (in shares) | 3,284 | ||||
Stock-based compensation | 572 | $ 0 | 572 | 0 | 0 |
Stock-based compensation (in shares) | 37,062 | ||||
Balance at Jun. 30, 2018 | $ 289,470 | $ 190 | $ 275,581 | $ 14,152 | $ (453) |
Balance (in shares) at Jun. 30, 2018 | 19,008,960 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net (loss) income | $ (7,953) | $ 3,604 |
Adjustments to reconcile net (loss) income to net cash from operating activities: | ||
Provision for credit losses | 2,545 | 540 |
Deferred income tax | 1,852 | 142 |
Provision for other real estate owned | 0 | 96 |
Depreciation | 1,200 | 665 |
Stock-based compensation | 572 | 346 |
Net amortization of investment securities | 25 | 30 |
Net accretion of discount on purchased loans | (628) | (354) |
Loss on sales of securities | 139 | 0 |
Net amortization of intangible asset | 1,222 | 271 |
Loans originated for sale | (337,290) | (326,920) |
Proceeds from sale of loans originated for sale | 355,115 | 330,070 |
Realized and unrealized gains on mortgage banking activity | (3,439) | (5,968) |
Gain on sales of other real estate owned, net | (45) | (19) |
Loss on sale of portfolio loans, net | 0 | 179 |
Cash surrender value of BOLI | (705) | (345) |
Decrease (increase) in interest receivable | 431 | (67) |
Increase in interest payable | 340 | 51 |
Decrease in other assets | 2,470 | 62 |
Decrease in other liabilities | (355) | (155) |
Net cash provided by operating activities | 15,496 | 2,228 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities of interest bearing deposits with banks | 0 | 9,880 |
Purchases of investment securities available-for-sale | (44,535) | (27,925) |
Purchases of investment securities held-to-maturity | 0 | (3,000) |
Proceeds from sale/maturities of investment securities available-for-sale | 112,039 | 14,520 |
Net increase in loans and leases outstanding | (10,662) | (63,780) |
Purchase of bank owned life insurance | 0 | (6,500) |
Proceeds from the sale of other real estate owned | 954 | 138 |
Proceeds from the sale of portfolio loans | 0 | 3,759 |
Purchase of premises and equipment | (1,773) | (184) |
Cash acquired in acquisition | 29,285 | 0 |
Net cash provided by (used in) investing activities | 85,308 | (73,092) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net (decrease) increase in deposits | (4,699) | 45,975 |
Net (decrease) increase in short-term borrowings | (126,293) | 2,713 |
Proceeds from issuance of long-term debt | 109,041 | 0 |
Repayment of long-term debt | 0 | (13,977) |
Net proceeds from issuance of common stock, net of cost | 136 | 38,617 |
Net cash (used in) provided by financing activities | (21,815) | 73,328 |
Net increase in cash and cash equivalents | 78,989 | 2,464 |
Cash and cash equivalents at beginning of period | 28,972 | 39,366 |
Cash and cash equivalents at end of period | 107,961 | 41,830 |
SUPPLEMENTAL INFORMATION | ||
Cash payments for interest | 4,881 | 2,277 |
Cash payments for income taxes | 0 | 1,930 |
Transferred from loans to other real estate owned | 174 | 0 |
Assets acquired in business combination (net of cash received) | 970,709 | 0 |
Liabilities assumed in business combination | $ 897,569 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Note 1: Summary of Significant Accounting Policies Nature of Operations On December 15, 2005, Howard Bancorp, Inc. (“Bancorp”) acquired all of the stock and became the holding company of Howard Bank (the “Bank”) pursuant to the Plan of Reorganization approved by the shareholders of the Bank and by federal and state regulatory agencies. Each share of the Bank’s common stock was converted into two shares of Bancorp common stock effected by the filing of Articles of Exchange on that date, and the shareholders of the Bank became the shareholders of Bancorp. The Bank has seven subsidiaries, six of which are intended to hold foreclosed real estate (three of which are inactive) and the other owns and manages real estate that is used as a branch location and has office and retail space. The accompanying consolidated financial statements of Bancorp and its wholly-owned subsidiary Howard Bank (collectively the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Bancorp was incorporated in April of 2005 under the laws of the State of Maryland and is a bank holding company registered under the Bank Holding Company Act of 1956. Bancorp is a single bank holding company with one subsidiary, Howard Bank, which operates as a state trust company with commercial banking powers regulated by the Maryland Office of the Commissioner of Financial Regulation (the “Commissioner”). The Company is a diversified financial services company providing commercial banking, mortgage banking and consumer finance through banking branches, the internet and other distribution channels to businesses, business owners, professionals and other consumers located primarily in the Greater Baltimore metropolitan area. On March 1, 2018, Howard Bancorp, Inc. completed its previously announced merger (the “Merger”) with First Mariner Bank, a Maryland chartered trust company (“First Mariner”) pursuant to the Agreement and Plan of Reorganization dated as of August 14, 2017, as amended by Amendment No. 1 on November 8, 2017, by and among Bancorp, Howard Bank, a Maryland chartered trust company and wholly owned subsidiary of Bancorp, and First Mariner (as amended, the “Agreement”). At the effective time of the Merger, First Mariner merged with and into Howard Bank, with Howard Bank continuing as the surviving bank of the Merger and a wholly owned subsidiary of Bancorp. The Merger was described in the joint proxy and information statement/prospectus filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 22, 2017. At the effective time of the Merger, pursuant to the terms of the Agreement, each outstanding share of First Mariner common stock and First Mariner Series A Non-Voting Non-Cumulative Perpetual Preferred Stock issued and outstanding was cancelled and converted into the right to receive 1.6624 shares of Bancorp common stock. To effect the Merger, Bancorp issued 9,143,222 shares of Bancorp common stock to First Mariner shareholders. On February 1, 2017, Bancorp closed an underwritten public offering, including the exercise in full by the underwriters of their option to purchase an additional 360,000 shares, at the public offering price of $15.00 per share. The exercise of the option to purchase additional shares brought the total number of shares of common stock sold by Bancorp to 2,760,000 shares and increased the amount of gross proceeds raised in the offering to approximately $41.4 million, after underwriting discounts and estimated expenses, net proceeds raised in the offering were $38.4 million. The following is a description of the Company’s significant accounting policies. Principles of Consolidation The consolidated financial statements include the accounts of Bancorp, its subsidiary bank and the Bank’s subsidiaries. All significant intercompany accounts and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes in the near-term relate to the determination of the allowance for credit losses, other-than-temporary impairment of investment securities, the fair value of loans held for sale, and fair value estimates related to acquisition accounting. Loans Held-For-Sale The Company engages in sales of residential mortgage loans originated by the Bank. The Company has elected to measure loans held for sale at fair value. Fair value is based on outstanding investor commitments or, in the absence of such commitments, on current investor yield requirements based on third party models. Gains and losses on sales of these loans are recorded as a component of noninterest income in the Consolidated Statements of Operations. The Company’s current practice is to sell residential mortgage loans on a servicing released basis, and, therefore, it has no intangible asset recorded for the value of such servicing. Interest on loans held for sale is credited to income based on the principal amounts outstanding. Upon sale and delivery, loans are legally isolated from the Company and the Company has no ability to restrict or constrain the ability of third party investors to pledge or exchange the mortgage loans. The Company does not have the entitlement or ability to repurchase the mortgage loans or unilaterally cause third party investors to put the mortgage loans back to the Company. Unrealized and realized gains on loan sales are determined using the specific identification method and are recognized through mortgage banking activity in the Consolidated Statements of Operations. The Company enters into commitments to originate residential mortgage loans whereby the interest rate on the loan is determined prior to funding (i.e. rate lock commitment). Such rate lock commitments on mortgage loans to be sold in the secondary market are considered to be derivatives. The period of time between issuance of a loan commitment and closing and sale of the loan generally ranges from 15 to 60 days. The Company protects itself from changes in interest rates through the use of best efforts forward delivery commitments, whereby the Company commits to sell a loan at a premium at the time the borrower commits to an interest rate with the intent that the buyer has assumed interest rate risk on the loan. For purposes of calculating fair value of rate lock commitments, the Bank estimates loan closing and investor delivery rate based on historical experience. The measurement of the estimated fair value of the rate lock commitments is presented as realized and unrealized gains from mortgage banking activities with the corresponding balance sheet amount presented as part of other assets. The Company elected to measure loans held for sale at fair value to better align reported results with the underlying economic changes in value of the loans on the Company’s balance sheet. Loans held for sale that were not ultimately sold, but instead were placed into the Bank’s portfolio, are reclassified to loans held for investment and continue to be recorded at fair value. Reclassifications Certain items in prior financial statements have been reclassified to conform to the current presentation. Accounting Pronouncements The FASB has issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU’s objectives are to 1) improve the transparency and understanding of information conveyed to financial statements users about an entity’s risk management activities by better aligning the entity’s financial reporting for hedging relationships with those risk management activities; and 2) reduce the complexity of and simplify the application of hedge accounting by preparers. ASU 2017-12 is effective for fiscal years beginning after December 15, 2018; early adoption is permitted. The Company currently does not designate any derivative financial instruments as formal hedging relationships and therefore, does not utilize hedge accounting. However, the Company is currently evaluating this ASU to determine whether its provision will enhance the Company’s ability to employ risk management strategies, while improving the transparency and understanding of those strategies for financial statement users. The FASB has issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. This ASU clarifies when changes to the term or conditions of a share-based payment award must be accounted for as a modification. Under this ASU, an entity will not apply modification accounting to a share-based payment award if all of the following are the same immediately before and after the change: 1) The fair value: 2) the award’s vesting conditions; and 3) the award’s classification as an equity or liability instrument. Adoption of ASU No. 2017-09 did not have an impact on the Company’s Consolidated Financial Statements. The FASB has issued ASU 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. The amendments in this Update shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company will evaluate the guidance in this update but does not expect it to have a significant impact on the Company’s financial position or result of operations. The FASB has issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The amendments in this Update simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. The Company should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. Impairment changes should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value, however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The impairment charge is limited to the amount of goodwill allocated to that reporting unit. The amendments in this Update are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company will evaluate the guidance in this update but does not expect it to have a significant impact on the Company’s financial position or result of operations. The FASB has issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . The amendments in this Update provide clarification on the definition of a business and provides criteria to aid in the assessment of whether a transaction should be accounted for as an acquisition or a disposal of assets or business. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Adoption of ASU 2017-01 did not have a material impact on the Company’s financial position or result of operations. The FASB has issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326). The main objective of this update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the guidance in this update replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. The guidance in this update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating this guidance to determine the impact on the Company’s Consolidated Financial Statements. The FASB has issued ASU 2016-02, Leases (Topic 842). The new guidance requires lessees to recognize lease assets and lease liabilities related to certain operating leases on their balance sheet and disclose key information about leasing arrangements. This guidance is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. The Company is currently evaluating this guidance to determine the impact on its consolidated financial statements. The Company leases certain properties under operating leases that will result in recognition on the Company’s consolidated balance sheet. The FASB has issued ASU No. 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Liabilities The FASB has issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance in this update is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. As allowed by this ASU the Company is permitted to adopt using the full retrospective transition method for all periods presented, or modified retrospective method where the guidance would only be applied to existing contracts in effect at the adoption date and new contracts going forward. The Company’s revenue stream within the scope of ASU No. 2014-09 is primarily from service charges on deposit accounts. The Company used a modified retrospective approach to uncompleted contracts at the date of adoption. Periods prior to the date of adoption are not retrospectively revised, but a cumulative effect of adoption is recognized for the impact of the ASU on uncompleted contracts at the date of adoption. The impact of guidance in this update, including method of implementation, did not have a material impact on the Company’s Consolidated Financial Statements. See Note 13 for additional information. |
Business Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2018 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Note 2: Business Combinations First Mariner Acquisition On March 1, 2018, Howard Bancorp completed its merger with First Mariner Bank into Howard Bank, a wholly owned subsidiary of Howard Bancorp, pursuant to the Agreement and Plan of Reorganization. At the effective time of the Merger, First Mariner merged with and into Howard Bank, with Howard Bank continuing as the surviving bank of the Merger. At the effective time of the Merger, pursuant to the terms of the Agreement, each outstanding share of First Mariner common stock and First Mariner Series A Non-Voting Non-Cumulative Perpetual Preferred Stock issued and outstanding was cancelled and converted into the right to receive 1.6624 shares of Bancorp common stock. The aggregate merger consideration of $173.8 million included $9.2 million of cash and 9,143,222 shares of Howard Bancorp common stock, which was valued at approximately $164.6 million based on the closing price of Howard Bancorp common stock of $18.00 on February 28, 2018. The Company has accounted for the Merger under the acquisition method of accounting in accordance with FASB ASC Topic 805, “ Business Combinations Management made significant estimates and exercised significant judgment in accounting for the acquisition of First Mariner. Management judgmentally assigned risk ratings to loans based on appraisals and estimated collateral values, expected cash flows, prepayment speeds and estimated loss factors to measure fair values for loans. Deposits and borrowings were valued based upon interest rates, original and remaining terms and maturities, as well as current rates for similar funds in the same markets. Premises and equipment was valued based on recent appraised values. Management used quoted or current market prices to determine the fair value of investment securities. The following table provides the purchase price as of the acquisition date, the current identifiable assets acquired and liabilities assumed at their estimated fair values, and the resulting goodwill of $70.7 million recorded from the acquisition: (in thousands) Purchase Price Consideration Cash consideration $ 9,245 Purchase price assigned to shares exchanged for stock 164,578 Total purchase price for First Mariner acquisition $ 173,823 Assets acquired at fair value: Cash and cash equivalents $ 38,530 Interest bearing deposits with banks 3,920 Investment securities available for sale 130,302 Loans held for sale 28,189 Loans 664,338 Accrued interest receivable 3,023 Other assets 119,826 Core deposit intangible 12,588 Total fair value of assets acquired $ 1,000,717 Liabilities assumed at fair value: Deposits 706,435 Borrowings 185,020 Accrued expenses and other liabilities 6,114 Total fair value of liabilities assumed $ 897,569 Net assets acquired at fair value: $ 103,148 Transaction consideration paid to First Mariner 173,823 Amount of goodwill recorded from First Mariner Acquisition $ 70,675 Acquired loans The following table outlines the contractually required payments receivable, cash flows we expect to receive, non-accretable credit adjustments and the accretable yield for all First Mariner loans as of the acquisition date. Contractually Required Non-Accretable Cash Flows Accretable Carring Value Payments Credit Expected to be FMV of Loans Receivable Adjustment Collected Adjustment Receivable Performing loans acquired $ 654,621 $ - $ 654,621 $ 9,054 $ 645,567 Impaired loans acquired 29,470 9,644 19,826 1,055 18,771 Total loans acquired $ 684,091 $ 9,644 $ 674,447 $ 10,109 $ 664,338 At the merger of First Mariner, all loans acquired were recorded at the estimated fair value on the purchase date with no carryover of the related allowance for loan losses. On the merger date, the loan portfolio was segregated into two loan pools, performing and non-performing loans to be retained in our portfolio. The Company determined the net discounted value of cash flows on approximately 2,700 performing loans totaling $654.6 million. The valuation took into consideration the loans' underlying characteristics, including account types, remaining terms, annual interest rates, interest types such as fixed or variable rate, past delinquencies, timing of principal and interest payments, current market rates, loan-to-value ratios, loss exposures, and remaining balances. These performing loans were segregated into pools based on loan and payment type and in some cases, risk grade. The effect of this valuation process was a net accretable discount adjustment of $9.1 million at merger. The Company also individually evaluated 57 impaired loans totaling $29.5 million of contractually required payments, to determine the fair value as of the March 1, 2018 measurement date. In determining the fair value for each individually evaluated impaired loan, the Company considered a number of factors including the remaining life of the acquired loan, estimated prepayments, estimated loss ratios, estimated value of the underlying collateral and net present value of cash flows the Company expect to receive, among others. The Company established a credit risk related non-accretable difference of $9.6 million relating to these acquired, credit impaired loans, reflected in the recorded net fair value. The Company further estimated the timing and amount of expected cash flows in excess of the estimated fair value and established an accretable discount adjustment of $1.1 million at acquisition relating to these impaired loans. In connection with the acquisition, the Company incurred merger-related expenses relating to personnel, professional fees, occupancy and equipment and other costs of integrating and conforming acquired operations. Those expenses consisted largely of costs related to professional and consulting services, employment severance and early retirement charges, termination of contractual agreements and conversion of systems and/or integration of operations, initial communication expenses, printing and filing costs of completing the transaction and investment banking charges. A summary of merger related costs included in the Consolidated Statements of Operations for the six month period ended June 30, 2018 is summarized as follows: Compensation related $ 9,860 Equipment disposition 1,918 Legal and consulting 2,005 Contract Terminations 925 Accounting & other 965 Total $ 15,673 Pro Forma Condensed Combined Financial Information: The following table presents unaudited proforma information as if the merger between Howard Bancorp and First Mariner had been completed on January 1, 2018 and on January 1, 2017. The pro forma information does not necessarily reflect the results of operations that would have occurred had the Company merged with First Mariner at the beginning of 2018 or 2017. Supplemental proforma earnings were adjusted to exclude merger related costs. The expected future amortizations of the various fair value adjustments were included beginning in each year presented. Cost savings are not reflected in the unaudited pro forma amounts for the periods presented. The pro forma financial information does not include the impact of possible business model changes, nor does it consider any potential impacts of current market conditions on revenues, expense efficiencies, or other factors. Six months ended Three months ended June 30, June 30, 2018 2017 2018 2017 Net interest income after provision $ 32,953 $ 32,931 $ 17,064 $ 16,920 Noninterest income 12,351 16,624 5,617 8,277 Noninterest expense 41,304 45,595 20,190 22,974 Net income 2,899 1,918 1,805 1,082 Net income per share $ 0.15 $ 0.13 $ 0.10 $ 0.07 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2018 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments Disclosure [Text Block] | Note 3: Investment Securities The Bank holds securities classified as available for sale and held to maturity. Because of the composition and remaining duration of the securities portfolio acquired in the First Mariner merger, management deemed it prudent for interest rate risk management purposes to liquidate the majority of the acquired portfolio. Thus, in the first quarter of 2018, the Bank sold nearly $69.37 million of First Mariner securities, with no gains or losses incurred upon the liquidation, as the sales were executed within days of the merger. In addition the Bank sold $33.0 million of pre-acquisition investment securities, in the first quarter of 2018 and recorded a loss on the sale of $139 thousand. Nearly $51 million of the acquired securities that were retained in the securities portfolio were recorded at fair value and were all classified as available for sale. The amortized cost and estimated fair values of investments are as follows: (in thousands) June 30, 2018 December 31, 2017 Gross Gross Gross Gross Amortized Unrealized Unrealized Estimated Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Cost Gains Losses Fair Value Available for sale U.S. Government Agencies $ 75,007 $ 9 $ 432 $ 74,584 $ 68,082 $ - $ 342 $ 67,740 Treasuries 1,502 - 6 1,496 1,505 - 11 1,494 Mortgage-backed 48,445 12 132 48,325 2,541 - 62 2,479 Other investments 3,077 49 - 3,126 2,579 - 36 2,543 $ 128,030 $ 70 $ 570 $ 127,530 $ 74,707 $ - $ 451 $ 74,256 Held to maturity Corporate debentures $ 9,250 $ 180 $ 13 $ 9,417 $ 9,250 $ 188 $ 17 $ 9,421 Gross unrealized losses and fair value by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2018 and December 31, 2017 are presented below: June 30, 2018 (in thousands) Less than 12 months 12 months or more Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Available for sale U.S. Government Agencies $ 47,237 $ 236 $ 15,364 $ 196 $ 62,601 $ 432 Treasuries - - 1,496 6 1,496 6 Mortgage-backed 30,528 61 1,092 71 31,620 132 Other investments 3,230 99 - - 3,230 99 $ 80,995 $ 396 $ 17,952 $ 273 $ 98,947 $ 669 Held to maturity Corporate debentures $ 2,750 $ 13 $ - $ - $ 2,750 $ 13 December 31, 2017 (in thousands) Less than 12 months 12 months or more Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Available for sale U.S. Government Agencies $ 54,303 $ 216 $ 13,437 $ 126 $ 67,740 $ 342 Treasuries - - 1,494 11 1,494 11 Mortgage-backed 1,202 12 1,262 50 2,464 62 Other investments 2,500 36 - - 2,500 36 $ 58,005 $ 264 $ 16,193 $ 187 $ 74,198 $ 451 Held to maturity Corporate debentures $ 500 $ 17 $ - $ - $ 500 $ 17 The unrealized losses that existed were a result of market changes in interest rates since the original purchase. Management systematically evaluates investment securities for other-than-temporary declines in fair value on a quarterly basis. This analysis requires management to consider various factors, which include the (1) duration and magnitude of the decline in value, (2) financial condition of the issuer or issuers and (3) structure of the security. The portfolio contained 46 securities with unrealized losses and 38 securities with unrealized losses at June 30, 2018 and December 31, 2017, respectively. An impairment loss is recognized in earnings if any of the following are true: (1) the Company intends to sell the debt security; (2) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis; or (3) the Company does not expect to recover the entire amortized cost basis of the security. In situations where the Company intends to sell or when it is more likely than not that the Company will be required to sell the security, the entire impairment loss must be recognized in earnings. In all other situations, only the portion of the impairment loss representing the credit loss must be recognized in earnings, with the remaining portion being recognized in shareholders’ equity as a component of other comprehensive income, net of deferred tax. The amortized cost and estimated fair values of investments securities by contractual maturity are shown below: (in thousands) June 30, 2018 December 31, 2017 Amortized Estimated Fair Amortized Estimated Fair Cost Value Cost Value Amounts maturing: One year or less $ 12,520 $ 12,410 $ 35,105 $ 34,995 After one through five years 64,000 63,681 34,489 34,248 After five through ten years 16,927 17,133 9,257 9,428 After ten years 43,833 43,723 2,526 2,464 $ 137,280 $ 136,947 $ 81,377 $ 81,135 At June 30, 2018 and December 31, 2017, $34.8 million and $28.8 million in fair value of securities were pledged as collateral for repurchase agreements and collateralized deposits, respectively. |
Loans and Leases
Loans and Leases | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Financing Receivables [Text Block] | Note 4: Loans and Leases The Company makes loans and leases to customers primarily in the Greater Baltimore metropolitan area and surrounding communities. A substantial portion of the Company’s loan portfolio consists of loans to businesses secured by real estate and/or other business assets. The loan portfolio segment balances at June 30, 2018 and December 31, 2017 are presented in the following table: June 30, 2018 December 31, 2017 (in thousands) Legacy Acquired Total % of Total Total % of Total Real estate Construction and land $ 74,136 $ 40,767 $ 114,903 7.1 % $ 74,398 7.9 % Residential - first lien 190,465 182,214 372,679 23.1 194,896 20.8 Residential - junior lien 45,429 50,439 95,868 6.0 43,047 4.6 Total residential real estate 235,894 232,653 468,547 29.1 237,943 25.4 Commercial - owner occupied 180,482 35,325 215,807 13.4 170,408 18.2 Commercial - non-owner occupied 266,011 162,541 428,552 26.6 260,802 27.8 Total commercial real estate 446,493 197,866 644,359 40.0 431,210 46.0 Total real estate loans 756,523 471,286 1,227,809 76.2 743,551 79.3 Commercial loans and leases 217,649 122,447 340,096 21.2 188,729 20.2 Consumer 3,738 38,335 42,073 2.6 4,328 0.5 Total loans $ 977,910 $ 632,068 $ 1,609,978 100.0 % $ 936,608 100.0 % Net loan origination fees, which are included in the amounts above, totaled $106 thousand and $54 thousand at June 30, 2018 and December 31, 2017, respectively. Acquired Impaired Loans The following table documents changes in the accretable discount on acquired impaired loans at June 30, 2018 and 2017: June 30, (in thousands) 2018 2017 Balance at beginning of period $ - $ 60 Impaired loans acquired 1,055 - Accretion of fair value discounts (34 ) (53 ) Balance at end of period $ 1,021 $ 7 The table below presents the outstanding balances and related carrying amounts for all acquired impaired loans at the end of the respective periods. Contractually Required Payments Carrying (in thousands) Receivable Amount At June 30, 2018 $ 17,166 $ 12,611 At December 31, 2017 1,292 851 |
Credit Quality Assessment
Credit Quality Assessment | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Allowance for Credit Losses [Text Block] | Note 5: Credit Quality Assessment Allowance for Credit Losses The following table provides information on the activity in the allowance for credit losses by the respective loan portfolio segment for the periods ended June 30, 2018 and June 30, 2017: June 30, 2018 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Allowance for credit losses: Six months ended: Beginning balance $ 735 $ 668 $ 177 $ 617 $ 1,410 $ 2,529 $ 23 $ 6,159 Charge-offs (202 ) (102 ) (149 ) (1 ) (746 ) (912 ) (49 ) (2,161 ) Recoveries - 1 - - 2 68 5 76 Provision for credit losses 128 113 185 110 957 982 70 2,545 Ending balance $ 661 $ 680 $ 213 $ 726 $ 1,623 $ 2,667 $ 49 $ 6,619 Three months ended: Beginning balance $ 563 $ 736 $ 186 $ 698 $ 1,470 $ 2,472 $ 23 $ 6,148 Charge-offs - (3 ) (60 ) - (212 ) (644 ) (45 ) (964 ) Recoveries - 2 - - - 7 1 10 Provision for credit losses 98 (55 ) 87 28 365 832 70 1,425 Ending balance $ 661 $ 680 $ 213 $ 726 $ 1,623 $ 2,667 $ 49 $ 6,619 June 30, 2017 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Allowance for credit losses: Six months ended: Beginning balance $ 511 $ 454 $ 89 $ 327 $ 1,120 $ 3,800 $ 127 $ 6,428 Charge-offs - (132 ) (31 ) - - (1,366 ) (108 ) (1,637 ) Recoveries - - 1 - 3 28 22 54 Provision for credit losses 51 221 52 74 53 28 61 540 Ending balance $ 562 $ 543 $ 111 $ 401 $ 1,176 $ 2,490 $ 102 $ 5,385 Three months ended: Beginning balance $ 534 $ 504 $ 99 $ 395 $ 1,098 $ 2,661 $ 69 $ 5,360 Charge-offs - (82 ) (8 ) - - (254 ) - (344 ) Recoveries - - 1 - 2 16 10 29 Provision for credit losses 28 121 19 6 76 67 23 340 Ending balance $ 562 $ 543 $ 111 $ 401 $ 1,176 $ 2,490 $ 102 $ 5,385 The following table provides additional information on the allowance for credit losses at June 30, 2018 and December 31, 2017: June 30, 2018 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Allowance allocated to: individually evaluated for impairment $ - $ - $ - $ - $ - $ 25 $ - $ 25 collectively evaluated for impairment $ 661 $ 680 $ 213 $ 726 $ 1,623 $ 2,642 $ 49 $ 6,594 Loans: Legacy Loans: Ending balance $ 74,136 $ 190,465 $ 45,429 $ 180,482 $ 266,011 $ 217,649 $ 3,738 $ 977,910 individually evaluated for impairment $ 560 $ 6,483 $ 105 $ 508 $ 6,081 $ 2,370 $ - $ 16,107 collectively evaluated for impairment $ 73,576 $ 183,982 $ 45,324 $ 179,974 $ 259,930 $ 215,279 $ 3,738 $ 961,803 Acquired Loans: Ending balance $ 40,767 $ 182,214 $ 50,439 $ 35,325 $ 162,541 $ 122,447 $ 38,335 $ 632,068 purchased credit impaired loans $ 849 $ 9,582 $ 779 $ 1,249 $ - $ 13 $ 151 $ 12,623 collectively evaluated for impairment $ 39,918 $ 172,632 $ 49,660 $ 34,076 $ 162,541 $ 122,434 $ 38,184 $ 619,445 Acquired loans were evaluated for impairment subsequent to the merger. No allowance was required on these loans due to the recently assigned credit marks on these loans. December 31, 2017 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Allowance allocated to: individually evaluated for impairment $ 202 $ - $ 29 $ - $ 11 $ 668 $ - $ 910 collectively evaluated for impairment $ 533 $ 668 $ 148 $ 617 $ 1,399 $ 1,861 $ 23 $ 5,249 Loans: Ending balance $ 74,398 $ 194,896 $ 43,047 $ 170,408 $ 260,802 $ 188,729 $ 4,328 $ 936,608 individually evaluated for impairment $ 761 $ 2,009 $ 396 $ 508 $ 5,867 $ 3,724 $ - $ 13,265 collectively evaluated for impairment $ 73,637 $ 192,887 $ 42,651 $ 169,900 $ 254,935 $ 185,005 $ 4,328 $ 923,343 When potential losses are identified, a specific provision and/or charge-off may be taken, based on the then current likelihood of repayment, that is at least in the amount of the collateral deficiency, and any potential collection costs, as determined by the independent third party appraisal. All loans that are considered impaired are subject to the completion of an impairment analysis. This analysis highlights any potential collateral deficiencies. A specific amount of impairment is established based on the Bank’s calculation of the probable loss inherent in the individual loan. The actual occurrence and severity of losses involving impaired credits can differ substantially from estimates. Credit risk profile by portfolio segment based upon internally assigned risk assignments are presented below: June 30, 2018 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Credit quality indicators: Legacy Loans: Not classified $ 73,701 $ 184,265 $ 45,324 $ 179,974 $ 259,845 $ 215,125 $ 3,738 $ 961,972 Special mention - - - - - - - - Substandard 435 6,200 105 508 6,166 2,524 - 15,938 Doubtful - - - - - - - - Total $ 74,136 $ 190,465 $ 45,429 $ 180,482 $ 266,011 $ 217,649 $ 3,738 $ 977,910 Acquired Loans: Not classified $ 39,839 $ 172,632 $ 49,660 $ 29,584 $ 162,339 $ 122,434 $ 38,184 $ 614,672 Special mention 79 - - 3,935 - - - 4,014 Substandard 849 9,582 779 1,806 202 13 151 13,382 Doubtful - - - - - - - - Total $ 40,767 $ 182,214 $ 50,439 $ 35,325 $ 162,541 $ 122,447 $ 38,335 $ 632,068 December 31, 2017 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Credit quality indicators: Not classified $ 73,761 $ 193,174 $ 42,651 $ 169,900 $ 253,255 $ 184,858 $ 4,328 $ 921,927 Special mention - - - - 1,592 - - 1,592 Substandard 637 1,103 5 508 3,725 801 - 6,779 Doubtful - 619 391 - 2,230 3,070 - 6,310 Total $ 74,398 $ 194,896 $ 43,047 $ 170,408 $ 260,802 $ 188,729 $ 4,328 $ 936,608 Special Mention Substandard Doubtful Loans classified Special Mention, Substandard, Doubtful or Loss are reviewed at least quarterly to determine their appropriate classification. All commercial loan relationships are reviewed annually. Non-classified residential mortgage loans and consumer loans are not evaluated unless a specific event occurs to raise the awareness of possible credit deterioration. An aged analysis of past due loans are as follows: June 30, 2018 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Analysis of past due loans: Legacy Loans: Accruing loans current $ 73,701 $ 182,916 $ 44,771 $ 179,974 $ 259,930 $ 215,125 $ 3,730 $ 960,147 Accruing loans past due: 30-59 days past due - - 140 - - 404 3 547 60-89 days past due - 1,195 413 - - - 5 1,613 Greater than 90 days past due - 154 - - - - - 154 Total past due - 1,349 553 - - 404 8 2,314 Non-accrual loans 435 6,200 105 508 6,081 2,120 - 15,449 Total loans $ 74,136 $ 190,465 $ 45,429 $ 180,482 $ 266,011 $ 217,649 $ 3,738 $ 977,910 Acquired Loans: Accruing loans current $ 39,918 $ 169,818 $ 48,254 $ 34,076 $ 162,541 $ 122,434 $ 37,915 $ 614,956 Accruing loans past due: 30-59 days past due - - 717 - - - 216 933 60-89 days past due - 2,247 430 - - - 37 2,714 Greater than 90 days past due - 567 259 - - - 16 842 Total past due - 2,814 1,406 - - - 269 4,489 Non-accrual loans 1 849 9,582 779 1,249 - 13 151 12,623 Total loans $ 40,767 $ 182,214 $ 50,439 $ 35,325 $ 162,541 $ 122,447 $ 38,335 $ 632,068 (1) Included are purchased credit impaired loans where the Company amortizes the accretable discount into interest income, however these loans do not accrue interest based on the terms of the loan. December 31, 2017 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Analysis of past due loans: Accruing loans current $ 73,386 $ 185,135 $ 42,491 $ 169,596 $ 251,608 $ 185,239 $ 4,328 $ 911,783 Accruing loans past due: 30-59 days past due 279 6,381 110 173 - 52 - 6,995 60-89 days past due 96 1,330 - - 364 - - 1,790 Greater than 90 days past due - 328 50 131 2,963 - - 3,472 Total past due 375 8,039 160 304 3,327 52 - 12,257 Non-accrual loans 637 1,722 396 508 5,867 3,438 - 12,568 Total loans $ 74,398 $ 194,896 $ 43,047 $ 170,408 $ 260,802 $ 188,729 $ 4,328 $ 936,608 Total loans either in non-accrual status or in excess of 90 days delinquent totaled $29.1 million or 1.8% of total loans outstanding at June 30, 2018, which represents an increase from $16.0 million or 1.7% at December 31, 2017. The impaired loans at June 30, 2018 and December 31, 2017 are as follows: June 30, 2018 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) & land first lien junior lien occupied occupied and leases loans Total Impaired loans: Legacy Loans: Recorded investment $ 560 $ 6,483 $ 105 $ 508 $ 6,081 $ 2,370 $ - $ 16,107 With an allowance recorded - - - - - 514 - 514 With no related allowance recorded 560 6,483 105 508 6,081 1,856 - 15,593 Related allowance - - - - - 25 - 25 Unpaid principal 762 6,610 105 508 6,837 3,660 - 18,482 Six months ended: Average balance of impaired loans 762 6,689 107 508 8,872 3,182 - 20,120 Interest income recognized - 51 2 - 2 22 - 77 Three months ended: Average balance of impaired loans 762 6,694 106 508 6,878 4,759 - 19,707 Interest income recognized - 32 1 - 1 11 - 45 Acquired Loans: Recorded investment 1 $ 849 $ 9,582 $ 779 $ 1,249 $ - $ 13 $ 151 12,623 Unpaid principal 1,118 11,082 1,235 1,552 305 1,236 163 16,691 Six months ended: Average balance of impaired loans 1,118 12,806 1,235 1,552 305 1,236 166 18,418 Interest income recognized - 217 21 - - - 2 240 Three months ended: Average balance of impaired loans 1,118 12,744 1,235 1,552 305 1,236 166 18,356 Interest income recognized - 174 11 - - - 2 187 (1) Included are purchased credit impaired loans where the Company amortizes the accretable discount into interest income, however these loans do not accrue interest based on the terms of the loan. December 31, 2017 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) & land first lien junior lien occupied occupied and leases loans Total Impaired loans: Recorded investment $ 761 $ 2,009 $ 396 $ 508 $ 5,867 $ 3,724 $ - $ 13,265 With an allowance recorded 637 - 391 - 2,230 2,883 - 6,141 With no related allowance recorded 124 2,009 5 508 3,637 841 - 7,124 Related allowance 202 - 29 - 11 668 - 910 Unpaid principal 762 2,034 403 509 5,884 5,293 - 14,885 Average balance of impaired loans 756 2,100 403 519 5,956 5,988 - 15,722 Interest income recognized 19 60 12 - 132 150 - 373 Included in the total impaired loans above were non-accrual loans of $28.1 million and $12.6 million at June 30, 2018 and December 31, 2017, respectively. Interest income that would have been recorded if non-accrual loans had been current and in accordance with their original terms was $1.0 million and $258 thousand for the first six months of 2018 and 2017, respectively. Loans may have their terms restructured (e.g., interest rates, loan maturity date, payment and amortization period, etc.) in circumstances that provide payment relief to a borrower experiencing financial difficulty. Such restructured loans are considered trouble debt restructured loans (“TDRs”) that may either be impaired loans that may either be in accruing status or non-accruing status. Non-accruing TDRs may return to accruing status provided there is a sufficient period of payment performance in accordance with the restructure terms. Loans may be removed from the restructured category in the year subsequent to the restructuring if: a) the restructuring agreement specifies an interest rate equal to or greater than the rate that the creditor was willing to accept at the time of restructuring for a new loan with comparable risk; and b) the loan is not impaired based on the terms specified by the restructuring agreement. TDRs at June 30, 2018 and December 31, 2017 are as follows: June 30, 2018 Number Non-Accrual Number Accrual Total (dollars in thousands) of Loans Status of Loans Status TDRs Construction and land - $ - 1 $ 125 $ 125 Residential real estate - first lien 3 971 1 283 1,254 Commercial - non-owner occupied 2 2,816 - - 2,816 Commercial loans and leases 1 514 1 192 706 6 $ 4,301 3 $ 600 $ 4,901 December 31, 2017 Number Non-Accrual Number Accrual Total (dollars in thousands) of Loans Status of Loans Status TDRs Construction and land - $ - 1 $ 125 $ 125 Residential real estate - first lien 2 886 1 287 1,173 Residential real estate - junior lien 1 398 - - 398 Commercial - non-owner occupied 2 2,815 - - 2,815 Commercial loans and leases 2 599 1 208 807 7 $ 4,698 3 $ 620 $ 5,318 A summary of TDR modifications outstanding and performing under modified terms are as follows: June 30, 2018 Not Performing Performing Related to Modified to Modified Total (in thousands) Allowance Terms Terms TDRs Construction and land Extension or other modification $ - $ - $ 125 $ 125 Residential real estate - first lien Extension or other modification - 971 283 1,254 Commercial RE - non-owner occupied Rate modification - 2,816 - 2,816 Commercial loans Extension or other modification - - 192 192 Forbearance 24 514 - 514 Total troubled debt restructured loans $ 24 $ 4,301 $ 600 $ 4,901 December 31, 2017 Not Performing Performing Related to Modified to Modified Total (in thousands) Allowance Terms Terms TDRs Construction and land Extension or other modification $ - $ - $ 125 $ 125 Residential real estate - first lien Extension or other modification - 886 287 1,173 Residential real estate - junior lien Forbearance 30 398 - 398 Commercial RE - non-owner occupied Rate modification - 2,815 - 2,815 Commercial loans Extension or other modification - 85 208 293 Forbearance 32 514 - 514 Total troubled debt restructured loans $ 62 $ 4,698 $ 620 $ 5,318 There was one new loan restructured during the six months ended June 30, 2018. In the second quarter of 2018 the Bank extended the terms of a residential real estate loan that is currently non-performing. As a part of the modification of the land development loan restructured during 2017, the Bank agreed to forgive $215 thousand in debt, and recorded this amount as a loss. The pre-modification principal amount on this loan was $340 thousand, while the post-modification principal amount was reduced to $125 thousand. The other modifications have been only interest rate concessions and payment term extensions, not principal reductions that resulted in the recordation of a loss. Thus, the pre-modification and post-modification recorded investment amounts are the same for these TDRs. Performing TDRs were in compliance with their modified terms and there are no further commitments associated with these loans. During the six months ended June 30, 2018 there were no TDRs that subsequently defaulted within twelve months of their modification dates. Management routinely evaluates other real estate owned (“OREO”) based upon periodic appraisals. For the three months ended June 30, 2018 and 2017 there were no additional valuation allowances recorded as the current appraised value, less estimated cost to sell, was sufficient to cover the recorded OREO amount. For the six months ended June 30, 2018 there was one loan for $174 thousand transferred from loans to OREO, while for the same period in 2017 there were no loans transferred to OREO. The Company sold one commercial property in Sussex County Delaware during the second quarter of 2018 with a carrying value was $593 thousand. The Company recorded a $45 thousand gain from the sale of this property. In conjunction with the First Mariner acquisition the Bank’s OREO balances increased $3.0 million representing 11 properties. At June 30, 2018 there were six residential first lien loans totaling $1.4 million in the process of foreclosure. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Disclosure [Text Block] | Note 6: Goodwill and Other Intangible Assets Goodwill has an indefinite useful life and is evaluated for impairment annually or more frequently if events and circumstances indicate that the asset would more-likely-than-not reduce the fair value below the carrying amount. On March 1, 2018 the Company initially recorded $71.4 million in goodwill relating to the First Mariner merger. Based upon updated information the goodwill was adjusted downward by $723 thousand in the second quarter 2018 to reflect revised valuations as detailed in Note 2. The Bank has one unit, which is the core banking operation. The table below shows goodwill balances at June 30, 2018 and December 31, 2017. June 30, December 31, (in thousands) 2018 2017 Goodwill Banking $ 71,278 $ 603 Core deposit intangible consists of premiums paid for the acquisition of core deposits and are amortized based upon the estimated economic benefits received. The gross carrying amount and accumulated amortization of other intangible assets are as follows: June 30, 2018 Weighted Gross Net Average Carrying Accumulated Carrying Remaining Life (in thousands) Amount Amortization Amount (Years) Amortizing intangible assets: Core deposit intangible $ 16,135 $ 3,019 $ 13,116 5.3 December 31, 2017 Weighted Gross Net Average Carrying Accumulated Carrying Remaining Life (in thousands) Amount Amortization Amount (Years) Amortizing intangible assets: Core deposit intangible $ 3,540 $ 1,797 $ 1,743 5.6 Estimated future amortization expense for amortizing intangibles for the years ending December 31, are as follows: (in thousands) 2018 $ 1,258 2019 3,012 2020 2,674 2021 2,326 2022 1,915 Thereafter 1,931 Total amortizing intangible assets $ 13,116 |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2018 | |
Banking and Thrift [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | Note 7: Deposits The following table details the composition of deposits and the related percentage mix of total deposits, respectively, at the dates indicated: (dollars in thousands) June 30, 2018 December 31, 2017 % of % of Amount Total Amount Total Noninterest-bearing demand $ 469,832 30 % $ 218,139 26 % Interest-bearing checking 156,680 10 71,642 8 Money market accounts 383,816 25 252,453 29 Savings 146,025 9 52,078 6 Certificates of deposit $250,000 and over 49,120 3 9,950 1 Certificates of deposit under $250,000 360,171 23 259,646 30 Total deposits $ 1,565,644 100 % $ 863,908 100 % |
Stock Options and Stock Awards
Stock Options and Stock Awards | 6 Months Ended |
Jun. 30, 2018 | |
Stock Options Awards and Warrants [Abstract] | |
Stock Options Awards and Warrants [Text Block] | Note 8: Stock Options and Stock Awards The Company’s equity incentive plan provides for awards of nonqualified and incentive stock options as well as vested and non-vested common stock awards. Employee stock options can be granted with exercise prices at the fair market value (as defined within the plan) of the stock at the date of grant and with terms of up to ten years. Except as otherwise permitted in the plan, upon termination of employment for reasons other than retirement, permanent disability or death, the option exercise period is reduced or the options are canceled. Stock awards may also be granted to non-employee members of the Board of Directors as compensation for attendance and participation at meetings of the Board of Directors and meetings of the various committees of the Board. For the six months ended June 30, 2018 and 2017, Bancorp issued 4,800 and 6,604 shares of common stock, respectively, to directors as compensation for their service. The fair value of the Company’s stock options granted as compensation is estimated on the measurement date, which, for the Company, is the date of grant. The fair value of stock options is calculated using the Black-Scholes option-pricing model under which the Company estimates expected market price volatility and expected term of the options based on historical data and other factors. There were no stock options granted during the first half of 2018 or the year ended December 31, 2017. The valuation of the Company’s restricted stock and restricted stock units is the closing price per share of Bancorp’s common stock on the date of grant. The following table summarizes the Company’s stock option activity and related information for the periods ended: June 30, 2018 December 31, 2017 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Balance at January 1, 30,991 $ 9.69 123,593 $ 12.36 Granted - - - - Exercised (3,284 ) 10.77 (27,113 ) 11.67 Forfeited (3,100 ) 11.00 (65,489 ) 13.92 Balance at period end 24,607 $ 9.38 30,991 $ 9.69 Exercisable at period end 24,607 $ 9.38 30,991 $ 9.69 Weighted average fair value of options granted during the year $ - $ - The cash received from the exercise of stock options during the six months ended June 30, 2018 was $35 thousand, while $234 thousand was received during the six months ended June 30, 2017. The intrinsic value of a stock option is the amount that the market value of the underlying stock exceeds the exercise price of the option. Based upon a fair market value of $18.00 at June 30, 2018, the options outstanding had an aggregate intrinsic value of $212 thousand. At December 31, 2017, based upon fair market value of $22.00, the outstanding options outstanding had an aggregate intrinsic value of $382 thousand. Restricted Stock Units Restricted stock units (“RSUs”) are similar to restricted stock, except the recipient does not receive the stock immediately, but instead receives it according to a vesting plan and distribution schedule. Each RSU t The Company granted 20,732 RSUs during the first half of 2018, all of which were immediately vested upon grant. The Company granted 18,500 RSUs during 2017, all of which are subject to a three-year vesting schedule. The following table presents a summary of the activity in the Company’s RSUs for the periods ended: June 30, 2018 December 31, 2017 Weighted Weighted Average Average Grant Date Grant Date Shares Fair Value Shares Fair Value Balance at January 1, 52,155 $ 15.09 65,491 $ 13.23 Granted 20,732 19.90 18,500 17.41 Vested (37,062 ) 17.14 (31,836 ) 12.60 Forfeited (3,332 ) 13.81 - - Balance at period end 32,493 $ 15.95 52,155 $ 15.09 At June 30, 2018, based on RSU awards outstanding at that time, the total unrecognized pre-tax compensation expense related to unvested RSU awards was $284 thousand. This expense is expected to be recognized through 2020 as follows. (in thousands) 2018 $ 103 2019 129 2020 52 $ 284 Stock-Based Compensation Expense: Six months ended Three months ended June 30 June 30 (in thousands) 2018 2017 2018 2017 Stock-based compensation expense Related to the issuance of restricted stock and RSUs $ 572 $ 236 $ 75 $ 149 Director compensation paid in stock $ 101 $ 110 $ - $ 66 |
Benefit Plans
Benefit Plans | 6 Months Ended |
Jun. 30, 2018 | |
Profit Sharing Plan [Abstract] | |
Profit Sharing Plan [Text Block] | Note 9: Benefit Plans Profit Sharing Plan The Company sponsors a defined contribution retirement plan through a Section 401(k) profit sharing plan. Employees may contribute up to 15% of their pretax compensation. Participants are eligible for matching Company contributions up to 4% of eligible compensation dependent on the level of voluntary contributions. Company matching contributions totaled $587 thousand and $381 thousand, respectively, for the six months ended June 30, 2018 and 2017. The Company’s matching contributions vest immediately. Supplemental Executive Retirement Plan (SERP) In 2014, the Bank created a SERP for the Chief Executive Officer. This plan was amended in 2015. Under the defined benefit SERP, Ms. Scully will receive $150,000 each year for 15 years after attainment of the Normal Retirement Age (as defined in the SERP). Ms. Scully will earn vesting on a graduated schedule in which she will become fully vested on August 25, 2019, which has been established for purposes of the SERP as her retirement date. Expense related to this plan totaled $139 thousand and $141 thousand for the six month periods ending June 30, 2018 and 2017, respectively. |
Income (Loss) per Common Share
Income (Loss) per Common Share | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 10: Income (Loss) per Common Share The table below shows the presentation of basic and diluted income per common share for the periods indicated: Six months ended Three months ended June 30, June 30, (dollars in thousands, except per share data) 2018 2017 2018 2017 Net (loss) income available to common stockholders (numerator) $ (7,953 ) $ 3,604 $ (2,277 ) $ 2,038 BASIC Basic average common shares outstanding (denominator) 16,058,092 9,295,777 19,002,851 9,779,772 Basic (loss) income per common share $ (0.50 ) $ 0.39 $ (0.12 ) $ 0.21 DILUTED Average common shares outstanding 16,058,092 9,295,777 19,002,851 9,779,772 Dilutive effect of common stock equivalents - 39,373 - 42,393 Diluted average common shares outstanding (denominator) 16,058,092 9,335,150 19,002,851 9,822,165 Diluted (loss) income per common share $ (0.50 ) $ 0.39 $ (0.12 ) $ 0.21 Because the Company reported a loss for both 2018 periods common stock equivalents were excluded from the calculation of diluted average shares outstanding, as their inclusion would have resulted in a lower diluted loss per share 25,326 - 27,245 - |
Risk-Based Capital
Risk-Based Capital | 6 Months Ended |
Jun. 30, 2018 | |
Banking and Thrift [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 11: Risk-Based Capital Bancorp and the Bank are subject to various regulatory capital requirements administered by the federal bank regulatory agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on Bancorp and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, Bancorp and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. Bancorp’s and the Bank’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. In July 2013, Federal Deposit Insurance Corporation (the “FDIC”) and the other federal bank regulatory agencies issued a final rule that revised their leverage and risk-based capital requirements and the method for calculating risk-weighted assets to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision (“Basel III”) and certain provisions of the Dodd-Frank Act. The final rule, which became effective on January 1, 2015, applies to all depository institutions, top-tier bank holding companies with total consolidated assets of $1 billion or more and top-tier savings and loan holding companies. The final rule created a new common equity Tier 1 (“CET1”) minimum capital requirement (4.5% of risk-weighted assets), increased the minimum Tier 1 capital ratio (from 4% to 6% of risk-weighted assets), imposed a minimum leverage ratio of 4.0%, and changed the risk-weight of certain assets to better reflect credit risk and other risk exposures. These include, among other things, a 150% risk weight for certain high volatility commercial real estate acquisition, development and construction loans and for non-residential mortgage loans that are 90 days past due or otherwise in non-accrual status, and a 20% credit conversion factor for the unused portion of a commitment with an original maturity of one year or less that is not unconditionally cancellable. The final rule also requires unrealized gains and losses on certain “available-for-sale” securities holdings to be included for purposes of calculating regulatory capital unless the Company elects to opt-out from this treatment. The Company has elected to permanently opt out of this treatment in the Company’s capital calculations, as permitted by the final rule. Additionally, subject to a transition schedule, the rule limits Bancorp’s and the Bank’s ability to make capital distributions, engage in share repurchases and pay certain discretionary bonus payments if the they do not hold a “capital conservation buffer” consisting of 2.5% of common equity Tier 1 capital to risk-weighted assets in addition to the amount necessary to meet its minimum risk-based capital requirements. In addition, under revised prompt corrective action requirements, in order to be considered “well-capitalized,” Bancorp and the Bank must have a total risk-based capital ratio of 10.0% or greater, a Tier 1 risk-based capital ratio of 8.0% or greater, a common equity Tier 1 ratio of 6.5% or greater, a leverage capital ratio of 5.0% or greater, and not be subject to any written agreement, order, capital directive, or prompt corrective action directive to meet and maintain a specific capital level for any capital measure. There are two main categories of capital under the regulatory capital guidelines. Tier 1 capital includes common shareholders’ equity, qualifying preferred stock and trust preferred securities, less goodwill and certain other deductions (including the unrealized net gains and losses, after applicable income taxes, on securities available for sale carried at fair value). Tier 2 capital includes preferred stock not qualifying as Tier 1 capital, subordinated debt, the allowance for credit losses and net unrealized gains on marketable equity securities, subject to limitations set by the guidelines. Tier 2 capital is limited to the amount of Tier 1 capital (i.e., at least half of total capital must be in the form of Tier 1 capital). Under the guidelines, capital is compared to the relative risk related to the balance sheet. To derive the risk included in the balance sheet, one of several risk weights is applied to the different balance sheet and off-balance sheet assets, primarily based on the relative credit risk of the counterparty. For example, claims guaranteed by the U.S. government or one of its agencies are risk-weighted at 0%. Off-balance sheet items, such as loan commitments, are also applied a risk weight after calculating balance sheet equivalent amounts. One of four credit conversion factors (0%, 20%, 50% and 100%) is assigned to loan commitments based on the likelihood of the off-balance sheet item becoming an asset. For example, certain loan commitments are converted at 50% and then risk-weighted at 100%. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Management believes that, as of June 30, 2018 and December 31, 2017, Bancorp and the Bank met all capital adequacy requirements to which they are subject. The following table reflects Bancorp’s and the Bank’s capital at June 30, 2018 and December 31, 2017: To be well capitalized under the FDICIA For capital prompt corrective Actual adequacy purposes action provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of June 30, 2018: Total capital (to risk-weighted assets) Howard Bank $ 185,421 10.78 % $ 137,624 8.00 % $ 172,030 10.00 % Howard Bancorp $ 187,072 10.83 % $ 138,245 8.00 % N/A Common equity tier 1 capital (to risk-weighted assets) Howard Bank $ 178,802 10.39 % $ 77,414 4.50 % $ 111,820 6.50 % Howard Bancorp $ 176,878 10.24 % $ 77,763 4.50 % N/A Tier 1 capital (to risk-weighted assets) Howard Bank $ 178,802 10.39 % $ 103,218 6.00 % $ 137,624 8.00 % Howard Bancorp $ 176,878 10.24 % $ 103,684 6.00 % N/A Tier 1 capital (to average assets) (Leverage ratio) Howard Bank $ 178,802 8.85 % $ 80,791 4.00 % $ 100,989 5.00 % Howard Bancorp $ 176,878 8.76 % $ 80,724 4.00 % N/A As of December 31, 2017: Total capital (to risk-weighted assets) Howard Bank $ 125,019 12.39 % $ 80,720 8.00 % $ 100,900 10.00 % Howard Bancorp $ 139,673 13.72 % $ 81,456 8.00 % N/A Common equity tier 1 capital (to risk-weighted assets) Howard Bank $ 118,860 11.78 % $ 45,405 4.50 % $ 65,585 6.50 % Howard Bancorp $ 129,979 12.77 % $ 45,819 4.50 % N/A Tier 1 capital (to risk-weighted assets) Howard Bank $ 118,860 11.78 % $ 60,540 6.00 % $ 80,720 8.00 % Howard Bancorp $ 129,979 12.77 % $ 61,092 6.00 % N/A Tier 1 capital (to average assets) (Leverage ratio) Howard Bank $ 118,860 10.70 % $ 44,438 4.00 % $ 55,547 5.00 % Howard Bancorp $ 129,979 11.70 % $ 44,439 4.00 % N/A |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 12: Fair Value FASB ASC Topic 820 “Fair Value Measurements” defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an 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. FASB ASC Topic 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. Under FASB ASC Topic 820, the Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine the fair value. These hierarchy levels are: Level 1: Valuations for assets and liabilities traded in active exchange markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2: Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities which use observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in active markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Recurring Fair Value Measurements All classes of investment securities available for sale are recorded at fair value using an industry-wide valuation service and therefore fall into a Level 2 of the fair value hierarchy. The service uses evaluated pricing models that vary based on asset class and include available trade, bid and other market information. Various methodologies include broker quotes, propriety models, descriptive terms and conditions databases, and quality control programs. Fair value of loans held for sale is based upon outstanding investor commitments or, in the absence of such commitments, based on current investor yield requirements or third party pricing models and are considered Level 2. Gains and losses on loan sales are determined using specific identification method. Changes in fair value are recognized in the Consolidated Statement of Operations as part of realized and unrealized gain on mortgage banking activities. Interest rate lock commitments are recorded at fair value determined as the amount that would be required to settle each of these derivatives at the balance sheet date. In the normal course of business, the Company enters into contractual interest rate lock commitments to extend credit to borrowers with fixed expiration dates. The commitment becomes effective when the borrowers lock in a specified interest rate within the time frames established by the mortgage division. All borrowers are evaluated for credit worthiness prior to the extension of the commitment. Market risk arises if interest rates move adversely between the time interest rate is locked by the borrower and the sale date of the loan to an investor. To mitigate this interest rate risk inherent in providing rate lock commitments to borrowers, the Company enters into best effort forward sales contracts to sell loans to investors. The forward sales contracts lock in an interest rate price for the sale of loans similar to the specific rate lock commitment. Rate lock commitments to the borrowers through to the date the loan closes are undesignated derivatives and accordingly, are marked to fair value in earnings. These valuations fall into a Level 3 of the fair value hierarchy. The rate lock commitments are deemed as Level 3 inputs because the Company applies an estimated pull-through rate, which is deemed an unobservable measure. The pull-through rate utilized is based upon historic pull-through rates that ranged from 70 percent to 80 percent. For loans held for investment that were originally intended to be sold and previously included as loans held for sale, fair value is determined by discounting estimated cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at June 30, 2018 and December 31, 2017. June 30, 2018 Quoted Price in Significant Active Markets Other Significant Carrying for Identical Observable Unobservable Value Assets Inputs Inputs (in thousands) (Fair Value) (Level 1) (Level 2) (Level 3) Available for sale securities: U.S. Government agencies $ 74,584 $ - $ 74,584 $ - U.S. Government treasuries 1,496 - 1,496 - Mortgage-backed securities 48,325 - 48,325 - Other investments 3,126 - 3,126 - Loans held for sale 55,956 - 55,956 - Loans held for investment 1,345 - 1,345 - Rate lock commitments 244 - - 244 December 31, 2017 Quoted Price in Significant Active Markets Other Significant Carrying for Identical Observable Unobservable Value Assets Inputs Inputs (in thousands) (Fair Value) (Level 1) (Level 2) (Level 3) Available for sale securities: U.S. Government agencies $ 67,740 $ - $ 67,740 $ - U.S. Government treasuries 1,494 - 1,494 - Mortgage-backed securities 2,479 - 2,479 - Other investments 2,543 - 2,464 79 Loans held for sale 42,153 - 42,153 - Loans held for investment 1,509 - 1,509 - Rate lock commitments 451 - - 451 The following table presents a reconciliation of the assets that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods presented: June 30 December 31 2018 2017 Balance, beginning of period $ 530 $ 528 Privately held equity investment (42 ) 79 Net gains (losses) included in realized and unrealized gains on mortgage banking activity in noninterest income (244 ) (77 ) Balance, end of period $ 244 $ 530 Assets under fair value option: June 30, 2018 Carrying Aggregate Fair Value Unpaid (in thousands) Amount Principal Difference Loans held for sale $ 55,956 $ 54,733 $ 1,223 Loans held for investment 1,345 1,374 (29 ) December 31, 2017 Carrying Aggregate Fair Value Unpaid (in thousands) Amount Principal Difference Loans held for sale $ 42,153 $ 40,990 $ 1,163 Loans held for investment 1,509 1,476 33 The Company elected to measure the loans held for sale and the loans held for investment that were originally intended for sale, but instead were added to the Bank’s portfolio at fair value, to better align reported results with the underlying economic changes in value of the loans on the Company’s balance sheet. Non-recurring Fair Value Measurements Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence. In the absence of such evidence, management's best estimate is used. Impaired loans are evaluated and valued at the time the loan is identified as impaired, at the lower of cost or market value. Market value is measured based on the value of the collateral securing these loans and is classified at a Level 3 in the fair value hierarchy. Collateral may be real estate and/or business assets including equipment, inventory and/or accounts receivable. The value of real estate collateral is determined based on appraisal by qualified licensed appraisers hired by the Company. The value of business equipment, inventory and accounts receivable collateral is based on the net book value on the business' financial statements and, if necessary, discounted based on management's review and analysis. Appraised and reported values may be discounted based on management's historical knowledge, changes in market conditions from the time of valuation, and/or management's expertise and knowledge of the client and client's business. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors identified above. Other real estate owned acquired through, or in lieu of, foreclosure are held for sale and are initially recorded at fair value, less selling costs. Any write-downs to fair value at the time of transfer to OREO are charged to noninterest expense subsequent to foreclosure. Values are derived from appraisals of underlying collateral and discounted cash flow analysis. There were no valuation losses recognized during the six months ended June 30, 2018, and $96 thousand recognized during the six months ended June 30, 2017. OREO is classified within Level 3 of the hierarchy. The following table sets forth the Company’s financial assets and liabilities that were accounted for or disclosed at fair value on a nonrecurring basis at June 30, 2018 and December 31, 2017. OREO is carried at fair value less anticipated costs to sell. Impaired loans are measured using the fair value of collateral, if applicable. June 30, 2018 Quoted Price in Significant Active Markets Other Significant Carrying for Identical Observable Unobservable Value Assets Inputs Inputs (in thousands) (Fair Value) (Level 1) (Level 2) (Level 3) Other real estate owned $ 4,115 $ - $ - $ 4,115 Impaired loans: Construction and land 1,409 - - 1,409 Residential - first lien 16,065 - - 16,065 Residential - junior lien 884 - - 884 Commercial - owner occupied 1,757 - - 1,757 Commercial - non-owner occupied 6,081 - - 6,081 Commercial loans and leases 2,358 - - 2,358 Consumer 151 - - 151 December 31, 2017 Quoted Price in Significant Active Markets Other Significant Carrying for Identical Observable Unobservable Value Assets Inputs Inputs (in thousands) (Fair Value) (Level 1) (Level 2) (Level 3) Other real estate owned $ 1,549 $ - $ - $ 1,549 Impaired loans: Construction and land 559 - - 559 Residential - first lien 2,009 - - 2,009 Residential - junior lien 367 - - 367 Commercial - owner occupied 508 - - 508 Commercial - non-owner occupied 5,856 - - 5,856 Commercial loans and leases 3,056 - - 3,056 Consumer - - - - At June 30, 2018, OREO consisted of the outstanding balance of $7.5 million, less valuation allowance of $3.4 million. Related allowance on impaired loans was $25 thousand and $910 thousand at June 30, 2018 and December 31, 2017 respectively. Various techniques are used to valuate OREO and impaired loans. All loans for which the underlying collateral is real estate, either construction, land, commercial, or residential, an independent appraisal is used to identify the value of the collateral. The approaches within the appraisal report include sales comparison, income, and replacement cost analysis. The resulting value will be adjusted by a selling cost of 9.5% and the residual value will be used to determine if there is an impairment. Commercial loans and leases and consumer loans utilize a liquidation approach to the impairment analysis. The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value estimates are based on quoted market prices where available or calculated using present value techniques. Since quoted market prices are not available on many of our financial instruments, estimates may be based on the present value of estimated future cash flows and estimated discount rates. Management has made estimates of fair value discount rates that it believes to be reasonable. However, because there is no market for many of these financial instruments, management has no basis to determine whether the fair value presented for loans would be indicative of the value negotiated in an actual sale. The following table presents the estimated fair value of the Company’s financial instruments at the dates indicated: June 30, 2018 Quoted Price in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs (in thousands) Amount Value (Level 1) (Level 2) (Level 3) Financial Assets Available for sale securities $ 127,530 $ 127,530 $ - $ 127,530 $ - Held to maturity securities 9,250 9,417 - - 9,417 Nonmarketable equity securities 14,485 14,485 - 14,485 - Loans held for sale 55,956 55,956 - 55,956 - Loans held for investment 1,345 1,345 - 1,345 - Rate lock commitments 244 244 - - 244 Loans and leases 1 1,602,014 1,578,707 - - 1,578,707 Financial Liabilities Deposits 1,565,644 1,566,981 - 1,566,981 - Short-term borrowings 189,112 189,112 - 189,112 - Long-term borrowings 127,575 127,744 - 127,744 - December 31, 2017 Quoted Price in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs (in thousands) Amount Value (Level 1) (Level 2) (Level 3) Financial Assets Available for sale securities $ 74,256 $ 74,256 $ - $ 74,177 $ 79 Held to maturity securities 9,250 9,421 - - 9,421 Nonmarketable equity securities 6,492 6,492 - 6,492 - Loans held for sale 42,153 42,153 - 42,153 - Loans held for investment 1,509 1,509 - 1,509 - Rate lock commitments 451 451 - - 451 Loans and leases 1 928,940 925,510 - - 925,510 Financial Liabilities Deposits 863,908 865,182 - 865,182 - Short-term borrowings 130,385 130,385 - 130,385 - Long-term borrowings 18,535 18,538 - 18,538 - (1) Carrying amount is net of unearned income and allowance for loan and lease losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans as of June 30, 2018 was measured using an exit price notion. The fair value of loans as of December 31, 2017 was measured using an entry price notion. |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jun. 30, 2018 | |
Revenue Recognition [Abstract] | |
Revenue from Contract with Customer [Text Block] | Note 13: Revenue Recognition Service Charges on Deposit Accounts Service charges on deposit accounts consist of account analysis fees, monthly service fees, check orders, and other deposit account related fees. The Banks’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Banks’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. Other Operating Income Other operating income is primarily comprised of debit and credit card income, ATM fees, merchant services income, revenue streams such as safety deposit box rental fees, and other miscellaneous service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Banks’s debit and credit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Bank’s cardholder uses a non-Bank ATM or a non-Bank cardholder uses a Bank ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Bank determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. Other service charges include revenue from processing wire transfers, bill pay service, cashier’s checks, and other services. The Bank’s performance obligation for fees, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. The following presents noninterest income, segregated by revenue streams in scope and out of scope of Topic 606, for the six and three months ended June 30, 2018 and 2017. Unaudited For the six months ended For the three months ended June 30, June 30, (in thousands) 2018 2017 2018 2017 NONINTEREST INCOME Service charges on deposit accounts $ 247 $ 136 $ 152 $ 83 Fees and other services charges 1,094 454 689 246 Other 39 32 20 14 Noninterest income in scope of Topic 606 1,380 622 861 343 Noninterest income out of scope of Topic 606 8,941 9,129 4,756 4,949 Total noninterest income $ 10,321 $ 9,751 $ 5,617 $ 5,292 Contract Balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Bank’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals. Consideration is often received immediately or shortly after the Bank satisfies its performance obligation and revenue is recognized. The Bank does not typically enter into long term revenue contracts with customers, and therefore, does not experience significant contract balances. As of June 30, 2018 and December 31, 2017, the Bank did not have any significant contract balances. Contract Acquisition Costs In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. Upon adoption of Topic 606, the Bank did not capitalize any contract acquisition cost. |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations [Policy Text Block] | Nature of Operations On December 15, 2005, Howard Bancorp, Inc. (“Bancorp”) acquired all of the stock and became the holding company of Howard Bank (the “Bank”) pursuant to the Plan of Reorganization approved by the shareholders of the Bank and by federal and state regulatory agencies. Each share of the Bank’s common stock was converted into two shares of Bancorp common stock effected by the filing of Articles of Exchange on that date, and the shareholders of the Bank became the shareholders of Bancorp. The Bank has seven subsidiaries, six of which are intended to hold foreclosed real estate (three of which are inactive) and the other owns and manages real estate that is used as a branch location and has office and retail space. The accompanying consolidated financial statements of Bancorp and its wholly-owned subsidiary Howard Bank (collectively the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Bancorp was incorporated in April of 2005 under the laws of the State of Maryland and is a bank holding company registered under the Bank Holding Company Act of 1956. Bancorp is a single bank holding company with one subsidiary, Howard Bank, which operates as a state trust company with commercial banking powers regulated by the Maryland Office of the Commissioner of Financial Regulation (the “Commissioner”). The Company is a diversified financial services company providing commercial banking, mortgage banking and consumer finance through banking branches, the internet and other distribution channels to businesses, business owners, professionals and other consumers located primarily in the Greater Baltimore metropolitan area. On March 1, 2018, Howard Bancorp, Inc. completed its previously announced merger (the “Merger”) with First Mariner Bank, a Maryland chartered trust company (“First Mariner”) pursuant to the Agreement and Plan of Reorganization dated as of August 14, 2017, as amended by Amendment No. 1 on November 8, 2017, by and among Bancorp, Howard Bank, a Maryland chartered trust company and wholly owned subsidiary of Bancorp, and First Mariner (as amended, the “Agreement”). At the effective time of the Merger, First Mariner merged with and into Howard Bank, with Howard Bank continuing as the surviving bank of the Merger and a wholly owned subsidiary of Bancorp. The Merger was described in the joint proxy and information statement/prospectus filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 22, 2017. At the effective time of the Merger, pursuant to the terms of the Agreement, each outstanding share of First Mariner common stock and First Mariner Series A Non-Voting Non-Cumulative Perpetual Preferred Stock issued and outstanding was cancelled and converted into the right to receive 1.6624 shares of Bancorp common stock. To effect the Merger, Bancorp issued 9,143,222 shares of Bancorp common stock to First Mariner shareholders. On February 1, 2017, Bancorp closed an underwritten public offering, including the exercise in full by the underwriters of their option to purchase an additional 360,000 shares, at the public offering price of $15.00 per share. The exercise of the option to purchase additional shares brought the total number of shares of common stock sold by Bancorp to 2,760,000 shares and increased the amount of gross proceeds raised in the offering to approximately $41.4 million, after underwriting discounts and estimated expenses, net proceeds raised in the offering were $38.4 million. The following is a description of the Company’s significant accounting policies. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of Bancorp, its subsidiary bank and the Bank’s subsidiaries. All significant intercompany accounts and transactions have been eliminated. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes in the near-term relate to the determination of the allowance for credit losses, other-than-temporary impairment of investment securities, the fair value of loans held for sale, and fair value estimates related to acquisition accounting. |
Loans Held For Sale Mortgages [Policy Text Block] | Loans Held-For-Sale The Company engages in sales of residential mortgage loans originated by the Bank. The Company has elected to measure loans held for sale at fair value. Fair value is based on outstanding investor commitments or, in the absence of such commitments, on current investor yield requirements based on third party models. Gains and losses on sales of these loans are recorded as a component of noninterest income in the Consolidated Statements of Operations. The Company’s current practice is to sell residential mortgage loans on a servicing released basis, and, therefore, it has no intangible asset recorded for the value of such servicing. Interest on loans held for sale is credited to income based on the principal amounts outstanding. Upon sale and delivery, loans are legally isolated from the Company and the Company has no ability to restrict or constrain the ability of third party investors to pledge or exchange the mortgage loans. The Company does not have the entitlement or ability to repurchase the mortgage loans or unilaterally cause third party investors to put the mortgage loans back to the Company. Unrealized and realized gains on loan sales are determined using the specific identification method and are recognized through mortgage banking activity in the Consolidated Statements of Operations. The Company enters into commitments to originate residential mortgage loans whereby the interest rate on the loan is determined prior to funding (i.e. rate lock commitment). Such rate lock commitments on mortgage loans to be sold in the secondary market are considered to be derivatives. The period of time between issuance of a loan commitment and closing and sale of the loan generally ranges from 15 to 60 days. The Company protects itself from changes in interest rates through the use of best efforts forward delivery commitments, whereby the Company commits to sell a loan at a premium at the time the borrower commits to an interest rate with the intent that the buyer has assumed interest rate risk on the loan. For purposes of calculating fair value of rate lock commitments, the Bank estimates loan closing and investor delivery rate based on historical experience. The measurement of the estimated fair value of the rate lock commitments is presented as realized and unrealized gains from mortgage banking activities with the corresponding balance sheet amount presented as part of other assets. The Company elected to measure loans held for sale at fair value to better align reported results with the underlying economic changes in value of the loans on the Company’s balance sheet. Loans held for sale that were not ultimately sold, but instead were placed into the Bank’s portfolio, are reclassified to loans held for investment and continue to be recorded at fair value. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain items in prior financial statements have been reclassified to conform to the current presentation. |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Pronouncements The FASB has issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU’s objectives are to 1) improve the transparency and understanding of information conveyed to financial statements users about an entity’s risk management activities by better aligning the entity’s financial reporting for hedging relationships with those risk management activities; and 2) reduce the complexity of and simplify the application of hedge accounting by preparers. ASU 2017-12 is effective for fiscal years beginning after December 15, 2018; early adoption is permitted. The Company currently does not designate any derivative financial instruments as formal hedging relationships and therefore, does not utilize hedge accounting. However, the Company is currently evaluating this ASU to determine whether its provision will enhance the Company’s ability to employ risk management strategies, while improving the transparency and understanding of those strategies for financial statement users. The FASB has issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. This ASU clarifies when changes to the term or conditions of a share-based payment award must be accounted for as a modification. Under this ASU, an entity will not apply modification accounting to a share-based payment award if all of the following are the same immediately before and after the change: 1) The fair value: 2) the award’s vesting conditions; and 3) the award’s classification as an equity or liability instrument. Adoption of ASU No. 2017-09 did not have an impact on the Company’s Consolidated Financial Statements. The FASB has issued ASU 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. The amendments in this Update shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company will evaluate the guidance in this update but does not expect it to have a significant impact on the Company’s financial position or result of operations. The FASB has issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The amendments in this Update simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. The Company should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. Impairment changes should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value, however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The impairment charge is limited to the amount of goodwill allocated to that reporting unit. The amendments in this Update are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company will evaluate the guidance in this update but does not expect it to have a significant impact on the Company’s financial position or result of operations. The FASB has issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . The amendments in this Update provide clarification on the definition of a business and provides criteria to aid in the assessment of whether a transaction should be accounted for as an acquisition or a disposal of assets or business. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Adoption of ASU 2017-01 did not have a material impact on the Company’s financial position or result of operations. The FASB has issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326). The main objective of this update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the guidance in this update replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. The guidance in this update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating this guidance to determine the impact on the Company’s Consolidated Financial Statements. The FASB has issued ASU 2016-02, Leases (Topic 842). The new guidance requires lessees to recognize lease assets and lease liabilities related to certain operating leases on their balance sheet and disclose key information about leasing arrangements. This guidance is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. The Company is currently evaluating this guidance to determine the impact on its consolidated financial statements. The Company leases certain properties under operating leases that will result in recognition on the Company’s consolidated balance sheet. The FASB has issued ASU No. 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Liabilities The FASB has issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance in this update is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. As allowed by this ASU the Company is permitted to adopt using the full retrospective transition method for all periods presented, or modified retrospective method where the guidance would only be applied to existing contracts in effect at the adoption date and new contracts going forward. The Company’s revenue stream within the scope of ASU No. 2014-09 is primarily from service charges on deposit accounts. The Company used a modified retrospective approach to uncompleted contracts at the date of adoption. Periods prior to the date of adoption are not retrospectively revised, but a cumulative effect of adoption is recognized for the impact of the ASU on uncompleted contracts at the date of adoption. The impact of guidance in this update, including method of implementation, did not have a material impact on the Company’s Consolidated Financial Statements. See Note 13 for additional information. |
Business Combinations (Tables)
Business Combinations (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table provides the purchase price as of the acquisition date, the current identifiable assets acquired and liabilities assumed at their estimated fair values, and the resulting goodwill of $70.7 million recorded from the acquisition: (in thousands) Purchase Price Consideration Cash consideration $ 9,245 Purchase price assigned to shares exchanged for stock 164,578 Total purchase price for First Mariner acquisition $ 173,823 Assets acquired at fair value: Cash and cash equivalents $ 38,530 Interest bearing deposits with banks 3,920 Investment securities available for sale 130,302 Loans held for sale 28,189 Loans 664,338 Accrued interest receivable 3,023 Other assets 119,826 Core deposit intangible 12,588 Total fair value of assets acquired $ 1,000,717 Liabilities assumed at fair value: Deposits 706,435 Borrowings 185,020 Accrued expenses and other liabilities 6,114 Total fair value of liabilities assumed $ 897,569 Net assets acquired at fair value: $ 103,148 Transaction consideration paid to First Mariner 173,823 Amount of goodwill recorded from First Mariner Acquisition $ 70,675 |
Business Acquisition, Merger Related cost [Table Text Block] | A summary of merger related costs included in the Consolidated Statements of Operations for the six month period ended June 30, 2018 is summarized as follows: Compensation related $ 9,860 Equipment disposition 1,918 Legal and consulting 2,005 Contract Terminations 925 Accounting & other 965 Total $ 15,673 |
Business Acquisition, Pro Forma Information [Table Text Block] | The pro forma financial information does not include the impact of possible business model changes, nor does it consider any potential impacts of current market conditions on revenues, expense efficiencies, or other factors. Six months ended Three months ended June 30, June 30, 2018 2017 2018 2017 Net interest income after provision $ 32,953 $ 32,931 $ 17,064 $ 16,920 Noninterest income 12,351 16,624 5,617 8,277 Noninterest expense 41,304 45,595 20,190 22,974 Net income 2,899 1,918 1,805 1,082 Net income per share $ 0.15 $ 0.13 $ 0.10 $ 0.07 |
First Mariner [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | The following table outlines the contractually required payments receivable, cash flows we expect to receive, non-accretable credit adjustments and the accretable yield for all First Mariner loans as of the acquisition date. Contractually Required Non-Accretable Cash Flows Accretable Carring Value Payments Credit Expected to be FMV of Loans Receivable Adjustment Collected Adjustment Receivable Performing loans acquired $ 654,621 $ - $ 654,621 $ 9,054 $ 645,567 Impaired loans acquired 29,470 9,644 19,826 1,055 18,771 Total loans acquired $ 684,091 $ 9,644 $ 674,447 $ 10,109 $ 664,338 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of Available-for-sale Securities and Held-to-maturity [Table Text Block] | The amortized cost and estimated fair values of investments are as follows: (in thousands) June 30, 2018 December 31, 2017 Gross Gross Gross Gross Amortized Unrealized Unrealized Estimated Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Cost Gains Losses Fair Value Available for sale U.S. Government Agencies $ 75,007 $ 9 $ 432 $ 74,584 $ 68,082 $ - $ 342 $ 67,740 Treasuries 1,502 - 6 1,496 1,505 - 11 1,494 Mortgage-backed 48,445 12 132 48,325 2,541 - 62 2,479 Other investments 3,077 49 - 3,126 2,579 - 36 2,543 $ 128,030 $ 70 $ 570 $ 127,530 $ 74,707 $ - $ 451 $ 74,256 Held to maturity Corporate debentures $ 9,250 $ 180 $ 13 $ 9,417 $ 9,250 $ 188 $ 17 $ 9,421 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Gross unrealized losses and fair value by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2018 and December 31, 2017 are presented below: June 30, 2018 (in thousands) Less than 12 months 12 months or more Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Available for sale U.S. Government Agencies $ 47,237 $ 236 $ 15,364 $ 196 $ 62,601 $ 432 Treasuries - - 1,496 6 1,496 6 Mortgage-backed 30,528 61 1,092 71 31,620 132 Other investments 3,230 99 - - 3,230 99 $ 80,995 $ 396 $ 17,952 $ 273 $ 98,947 $ 669 Held to maturity Corporate debentures $ 2,750 $ 13 $ - $ - $ 2,750 $ 13 December 31, 2017 (in thousands) Less than 12 months 12 months or more Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Available for sale U.S. Government Agencies $ 54,303 $ 216 $ 13,437 $ 126 $ 67,740 $ 342 Treasuries - - 1,494 11 1,494 11 Mortgage-backed 1,202 12 1,262 50 2,464 62 Other investments 2,500 36 - - 2,500 36 $ 58,005 $ 264 $ 16,193 $ 187 $ 74,198 $ 451 Held to maturity Corporate debentures $ 500 $ 17 $ - $ - $ 500 $ 17 |
Schedule of Available-for-sale by Debt Maturity [Table Text Block] | The amortized cost and estimated fair values of investments securities by contractual maturity are shown below: (in thousands) June 30, 2018 December 31, 2017 Amortized Estimated Fair Amortized Estimated Fair Cost Value Cost Value Amounts maturing: One year or less $ 12,520 $ 12,410 $ 35,105 $ 34,995 After one through five years 64,000 63,681 34,489 34,248 After five through ten years 16,927 17,133 9,257 9,428 After ten years 43,833 43,723 2,526 2,464 $ 137,280 $ 136,947 $ 81,377 $ 81,135 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Schedule Of Accounts Notes Loans And Financing Receivable [Table Text Block] | The loan portfolio segment balances at June 30, 2018 and December 31, 2017 are presented in the following table: June 30, 2018 December 31, 2017 (in thousands) Legacy Acquired Total % of Total Total % of Total Real estate Construction and land $ 74,136 $ 40,767 $ 114,903 7.1 % $ 74,398 7.9 % Residential - first lien 190,465 182,214 372,679 23.1 194,896 20.8 Residential - junior lien 45,429 50,439 95,868 6.0 43,047 4.6 Total residential real estate 235,894 232,653 468,547 29.1 237,943 25.4 Commercial - owner occupied 180,482 35,325 215,807 13.4 170,408 18.2 Commercial - non-owner occupied 266,011 162,541 428,552 26.6 260,802 27.8 Total commercial real estate 446,493 197,866 644,359 40.0 431,210 46.0 Total real estate loans 756,523 471,286 1,227,809 76.2 743,551 79.3 Commercial loans and leases 217,649 122,447 340,096 21.2 188,729 20.2 Consumer 3,738 38,335 42,073 2.6 4,328 0.5 Total loans $ 977,910 $ 632,068 $ 1,609,978 100.0 % $ 936,608 100.0 % |
Acquired Impaired Loans Receivables [Table Text Block] | The following table documents changes in the accretable discount on acquired impaired loans at June 30, 2018 and 2017: June 30, (in thousands) 2018 2017 Balance at beginning of period $ - $ 60 Impaired loans acquired 1,055 - Accretion of fair value discounts (34 ) (53 ) Balance at end of period $ 1,021 $ 7 The table below presents the outstanding balances and related carrying amounts for all acquired impaired loans at the end of the respective periods. Contractually Required Payments Carrying (in thousands) Receivable Amount At June 30, 2018 $ 17,166 $ 12,611 At December 31, 2017 1,292 851 |
Credit Quality Assessment (Tabl
Credit Quality Assessment (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Allowance for Loan and Lease Losses [Table Text Block] | The following table provides information on the activity in the allowance for credit losses by the respective loan portfolio segment for the periods ended June 30, 2018 and June 30, 2017: June 30, 2018 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Allowance for credit losses: Six months ended: Beginning balance $ 735 $ 668 $ 177 $ 617 $ 1,410 $ 2,529 $ 23 $ 6,159 Charge-offs (202 ) (102 ) (149 ) (1 ) (746 ) (912 ) (49 ) (2,161 ) Recoveries - 1 - - 2 68 5 76 Provision for credit losses 128 113 185 110 957 982 70 2,545 Ending balance $ 661 $ 680 $ 213 $ 726 $ 1,623 $ 2,667 $ 49 $ 6,619 Three months ended: Beginning balance $ 563 $ 736 $ 186 $ 698 $ 1,470 $ 2,472 $ 23 $ 6,148 Charge-offs - (3 ) (60 ) - (212 ) (644 ) (45 ) (964 ) Recoveries - 2 - - - 7 1 10 Provision for credit losses 98 (55 ) 87 28 365 832 70 1,425 Ending balance $ 661 $ 680 $ 213 $ 726 $ 1,623 $ 2,667 $ 49 $ 6,619 June 30, 2017 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Allowance for credit losses: Six months ended: Beginning balance $ 511 $ 454 $ 89 $ 327 $ 1,120 $ 3,800 $ 127 $ 6,428 Charge-offs - (132 ) (31 ) - - (1,366 ) (108 ) (1,637 ) Recoveries - - 1 - 3 28 22 54 Provision for credit losses 51 221 52 74 53 28 61 540 Ending balance $ 562 $ 543 $ 111 $ 401 $ 1,176 $ 2,490 $ 102 $ 5,385 Three months ended: Beginning balance $ 534 $ 504 $ 99 $ 395 $ 1,098 $ 2,661 $ 69 $ 5,360 Charge-offs - (82 ) (8 ) - - (254 ) - (344 ) Recoveries - - 1 - 2 16 10 29 Provision for credit losses 28 121 19 6 76 67 23 340 Ending balance $ 562 $ 543 $ 111 $ 401 $ 1,176 $ 2,490 $ 102 $ 5,385 The following table provides additional information on the allowance for credit losses at June 30, 2018 and December 31, 2017: June 30, 2018 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Allowance allocated to: individually evaluated for impairment $ - $ - $ - $ - $ - $ 25 $ - $ 25 collectively evaluated for impairment $ 661 $ 680 $ 213 $ 726 $ 1,623 $ 2,642 $ 49 $ 6,594 Loans: Legacy Loans: Ending balance $ 74,136 $ 190,465 $ 45,429 $ 180,482 $ 266,011 $ 217,649 $ 3,738 $ 977,910 individually evaluated for impairment $ 560 $ 6,483 $ 105 $ 508 $ 6,081 $ 2,370 $ - $ 16,107 collectively evaluated for impairment $ 73,576 $ 183,982 $ 45,324 $ 179,974 $ 259,930 $ 215,279 $ 3,738 $ 961,803 Acquired Loans: Ending balance $ 40,767 $ 182,214 $ 50,439 $ 35,325 $ 162,541 $ 122,447 $ 38,335 $ 632,068 purchased credit impaired loans $ 849 $ 9,582 $ 779 $ 1,249 $ - $ 13 $ 151 $ 12,623 collectively evaluated for impairment $ 39,918 $ 172,632 $ 49,660 $ 34,076 $ 162,541 $ 122,434 $ 38,184 $ 619,445 December 31, 2017 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Allowance allocated to: individually evaluated for impairment $ 202 $ - $ 29 $ - $ 11 $ 668 $ - $ 910 collectively evaluated for impairment $ 533 $ 668 $ 148 $ 617 $ 1,399 $ 1,861 $ 23 $ 5,249 Loans: Ending balance $ 74,398 $ 194,896 $ 43,047 $ 170,408 $ 260,802 $ 188,729 $ 4,328 $ 936,608 individually evaluated for impairment $ 761 $ 2,009 $ 396 $ 508 $ 5,867 $ 3,724 $ - $ 13,265 collectively evaluated for impairment $ 73,637 $ 192,887 $ 42,651 $ 169,900 $ 254,935 $ 185,005 $ 4,328 $ 923,343 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit risk profile by portfolio segment based upon internally assigned risk assignments are presented below: June 30, 2018 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Credit quality indicators: Legacy Loans: Not classified $ 73,701 $ 184,265 $ 45,324 $ 179,974 $ 259,845 $ 215,125 $ 3,738 $ 961,972 Special mention - - - - - - - - Substandard 435 6,200 105 508 6,166 2,524 - 15,938 Doubtful - - - - - - - - Total $ 74,136 $ 190,465 $ 45,429 $ 180,482 $ 266,011 $ 217,649 $ 3,738 $ 977,910 Acquired Loans: Not classified $ 39,839 $ 172,632 $ 49,660 $ 29,584 $ 162,339 $ 122,434 $ 38,184 $ 614,672 Special mention 79 - - 3,935 - - - 4,014 Substandard 849 9,582 779 1,806 202 13 151 13,382 Doubtful - - - - - - - - Total $ 40,767 $ 182,214 $ 50,439 $ 35,325 $ 162,541 $ 122,447 $ 38,335 $ 632,068 December 31, 2017 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Credit quality indicators: Not classified $ 73,761 $ 193,174 $ 42,651 $ 169,900 $ 253,255 $ 184,858 $ 4,328 $ 921,927 Special mention - - - - 1,592 - - 1,592 Substandard 637 1,103 5 508 3,725 801 - 6,779 Doubtful - 619 391 - 2,230 3,070 - 6,310 Total $ 74,398 $ 194,896 $ 43,047 $ 170,408 $ 260,802 $ 188,729 $ 4,328 $ 936,608 |
Past Due Financing Receivables [Table Text Block] | An aged analysis of past due loans are as follows: June 30, 2018 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Analysis of past due loans: Legacy Loans: Accruing loans current $ 73,701 $ 182,916 $ 44,771 $ 179,974 $ 259,930 $ 215,125 $ 3,730 $ 960,147 Accruing loans past due: 30-59 days past due - - 140 - - 404 3 547 60-89 days past due - 1,195 413 - - - 5 1,613 Greater than 90 days past due - 154 - - - - - 154 Total past due - 1,349 553 - - 404 8 2,314 Non-accrual loans 435 6,200 105 508 6,081 2,120 - 15,449 Total loans $ 74,136 $ 190,465 $ 45,429 $ 180,482 $ 266,011 $ 217,649 $ 3,738 $ 977,910 Acquired Loans: Accruing loans current $ 39,918 $ 169,818 $ 48,254 $ 34,076 $ 162,541 $ 122,434 $ 37,915 $ 614,956 Accruing loans past due: 30-59 days past due - - 717 - - - 216 933 60-89 days past due - 2,247 430 - - - 37 2,714 Greater than 90 days past due - 567 259 - - - 16 842 Total past due - 2,814 1,406 - - - 269 4,489 Non-accrual loans 1 849 9,582 779 1,249 - 13 151 12,623 Total loans $ 40,767 $ 182,214 $ 50,439 $ 35,325 $ 162,541 $ 122,447 $ 38,335 $ 632,068 (1) Included are purchased credit impaired loans where the Company amortizes the accretable discount into interest income, however these loans do not accrue interest based on the terms of the loan. December 31, 2017 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) and land first lien junior lien occupied occupied and leases loans Total Analysis of past due loans: Accruing loans current $ 73,386 $ 185,135 $ 42,491 $ 169,596 $ 251,608 $ 185,239 $ 4,328 $ 911,783 Accruing loans past due: 30-59 days past due 279 6,381 110 173 - 52 - 6,995 60-89 days past due 96 1,330 - - 364 - - 1,790 Greater than 90 days past due - 328 50 131 2,963 - - 3,472 Total past due 375 8,039 160 304 3,327 52 - 12,257 Non-accrual loans 637 1,722 396 508 5,867 3,438 - 12,568 Total loans $ 74,398 $ 194,896 $ 43,047 $ 170,408 $ 260,802 $ 188,729 $ 4,328 $ 936,608 |
Impaired Financing Receivables [Table Text Block] | The impaired loans at June 30, 2018 and December 31, 2017 are as follows: June 30, 2018 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) & land first lien junior lien occupied occupied and leases loans Total Impaired loans: Legacy Loans: Recorded investment $ 560 $ 6,483 $ 105 $ 508 $ 6,081 $ 2,370 $ - $ 16,107 With an allowance recorded - - - - - 514 - 514 With no related allowance recorded 560 6,483 105 508 6,081 1,856 - 15,593 Related allowance - - - - - 25 - 25 Unpaid principal 762 6,610 105 508 6,837 3,660 - 18,482 Six months ended: Average balance of impaired loans 762 6,689 107 508 8,872 3,182 - 20,120 Interest income recognized - 51 2 - 2 22 - 77 Three months ended: Average balance of impaired loans 762 6,694 106 508 6,878 4,759 - 19,707 Interest income recognized - 32 1 - 1 11 - 45 Acquired Loans: Recorded investment 1 $ 849 $ 9,582 $ 779 $ 1,249 $ - $ 13 $ 151 12,623 Unpaid principal 1,118 11,082 1,235 1,552 305 1,236 163 16,691 Six months ended: Average balance of impaired loans 1,118 12,806 1,235 1,552 305 1,236 166 18,418 Interest income recognized - 217 21 - - - 2 240 Three months ended: Average balance of impaired loans 1,118 12,744 1,235 1,552 305 1,236 166 18,356 Interest income recognized - 174 11 - - - 2 187 (1) Included are purchased credit impaired loans where the Company amortizes the accretable discount into interest income, however these loans do not accrue interest based on the terms of the loan. December 31, 2017 Commercial Commercial Commercial Construction Residential Residential owner non-owner loans Consumer (in thousands) & land first lien junior lien occupied occupied and leases loans Total Impaired loans: Recorded investment $ 761 $ 2,009 $ 396 $ 508 $ 5,867 $ 3,724 $ - $ 13,265 With an allowance recorded 637 - 391 - 2,230 2,883 - 6,141 With no related allowance recorded 124 2,009 5 508 3,637 841 - 7,124 Related allowance 202 - 29 - 11 668 - 910 Unpaid principal 762 2,034 403 509 5,884 5,293 - 14,885 Average balance of impaired loans 756 2,100 403 519 5,956 5,988 - 15,722 Interest income recognized 19 60 12 - 132 150 - 373 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | TDRs at June 30, 2018 and December 31, 2017 are as follows: June 30, 2018 Number Non-Accrual Number Accrual Total (dollars in thousands) of Loans Status of Loans Status TDRs Construction and land - $ - 1 $ 125 $ 125 Residential real estate - first lien 3 971 1 283 1,254 Commercial - non-owner occupied 2 2,816 - - 2,816 Commercial loans and leases 1 514 1 192 706 6 $ 4,301 3 $ 600 $ 4,901 December 31, 2017 Number Non-Accrual Number Accrual Total (dollars in thousands) of Loans Status of Loans Status TDRs Construction and land - $ - 1 $ 125 $ 125 Residential real estate - first lien 2 886 1 287 1,173 Residential real estate - junior lien 1 398 - - 398 Commercial - non-owner occupied 2 2,815 - - 2,815 Commercial loans and leases 2 599 1 208 807 7 $ 4,698 3 $ 620 $ 5,318 |
Summary of Troubled Debt Restructuring Outstanding and Performance [Table Text Block] | A summary of TDR modifications outstanding and performing under modified terms are as follows: June 30, 2018 Not Performing Performing Related to Modified to Modified Total (in thousands) Allowance Terms Terms TDRs Construction and land Extension or other modification $ - $ - $ 125 $ 125 Residential real estate - first lien Extension or other modification - 971 283 1,254 Commercial RE - non-owner occupied Rate modification - 2,816 - 2,816 Commercial loans Extension or other modification - - 192 192 Forbearance 24 514 - 514 Total troubled debt restructured loans $ 24 $ 4,301 $ 600 $ 4,901 December 31, 2017 Not Performing Performing Related to Modified to Modified Total (in thousands) Allowance Terms Terms TDRs Construction and land Extension or other modification $ - $ - $ 125 $ 125 Residential real estate - first lien Extension or other modification - 886 287 1,173 Residential real estate - junior lien Forbearance 30 398 - 398 Commercial RE - non-owner occupied Rate modification - 2,815 - 2,815 Commercial loans Extension or other modification - 85 208 293 Forbearance 32 514 - 514 Total troubled debt restructured loans $ 62 $ 4,698 $ 620 $ 5,318 |
Goodwill and Other Intangible26
Goodwill and Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | The Bank has one unit, which is the core banking operation. The table below shows goodwill balances at June 30, 2018 and December 31, 2017. June 30, December 31, (in thousands) 2018 2017 Goodwill Banking $ 71,278 $ 603 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | The gross carrying amount and accumulated amortization of other intangible assets are as follows: June 30, 2018 Weighted Gross Net Average Carrying Accumulated Carrying Remaining Life (in thousands) Amount Amortization Amount (Years) Amortizing intangible assets: Core deposit intangible $ 16,135 $ 3,019 $ 13,116 5.3 December 31, 2017 Weighted Gross Net Average Carrying Accumulated Carrying Remaining Life (in thousands) Amount Amortization Amount (Years) Amortizing intangible assets: Core deposit intangible $ 3,540 $ 1,797 $ 1,743 5.6 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Estimated future amortization expense for amortizing intangibles for the years ending December 31, are as follows: (in thousands) 2018 $ 1,258 2019 3,012 2020 2,674 2021 2,326 2022 1,915 Thereafter 1,931 Total amortizing intangible assets $ 13,116 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Banking and Thrift [Abstract] | |
Schedule of Deposits [Table Text Block] | The following table details the composition of deposits and the related percentage mix of total deposits, respectively, at the dates indicated: (dollars in thousands) June 30, 2018 December 31, 2017 % of % of Amount Total Amount Total Noninterest-bearing demand $ 469,832 30 % $ 218,139 26 % Interest-bearing checking 156,680 10 71,642 8 Money market accounts 383,816 25 252,453 29 Savings 146,025 9 52,078 6 Certificates of deposit $250,000 and over 49,120 3 9,950 1 Certificates of deposit under $250,000 360,171 23 259,646 30 Total deposits $ 1,565,644 100 % $ 863,908 100 % |
Stock Options and Stock Awards
Stock Options and Stock Awards (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Stock Options Awards and Warrants [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes the Company’s stock option activity and related information for the periods ended: June 30, 2018 December 31, 2017 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Balance at January 1, 30,991 $ 9.69 123,593 $ 12.36 Granted - - - - Exercised (3,284 ) 10.77 (27,113 ) 11.67 Forfeited (3,100 ) 11.00 (65,489 ) 13.92 Balance at period end 24,607 $ 9.38 30,991 $ 9.69 Exercisable at period end 24,607 $ 9.38 30,991 $ 9.69 Weighted average fair value of options granted during the year $ - $ - |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | The following table presents a summary of the activity in the Company’s RSUs for the periods ended: June 30, 2018 December 31, 2017 Weighted Weighted Average Average Grant Date Grant Date Shares Fair Value Shares Fair Value Balance at January 1, 52,155 $ 15.09 65,491 $ 13.23 Granted 20,732 19.90 18,500 17.41 Vested (37,062 ) 17.14 (31,836 ) 12.60 Forfeited (3,332 ) 13.81 - - Balance at period end 32,493 $ 15.95 52,155 $ 15.09 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block] | At June 30, 2018, based on RSU awards outstanding at that time, the total unrecognized pre-tax compensation expense related to unvested RSU awards was $284 thousand. This expense is expected to be recognized through 2020 as follows. (in thousands) 2018 $ 103 2019 129 2020 52 $ 284 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | The amount that the Company recognized in stock-based compensation expense related to the issuance of restricted stock and RSUs and for director compensation paid in stock is presented in the following table: Six months ended Three months ended June 30 June 30 (in thousands) 2018 2017 2018 2017 Stock-based compensation expense Related to the issuance of restricted stock and RSUs $ 572 $ 236 $ 75 $ 149 Director compensation paid in stock $ 101 $ 110 $ - $ 66 |
Income (Loss) per Common Share
Income (Loss) per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The table below shows the presentation of basic and diluted income per common share for the periods indicated: Six months ended Three months ended June 30, June 30, (dollars in thousands, except per share data) 2018 2017 2018 2017 Net (loss) income available to common stockholders (numerator) $ (7,953 ) $ 3,604 $ (2,277 ) $ 2,038 BASIC Basic average common shares outstanding (denominator) 16,058,092 9,295,777 19,002,851 9,779,772 Basic (loss) income per common share $ (0.50 ) $ 0.39 $ (0.12 ) $ 0.21 DILUTED Average common shares outstanding 16,058,092 9,295,777 19,002,851 9,779,772 Dilutive effect of common stock equivalents - 39,373 - 42,393 Diluted average common shares outstanding (denominator) 16,058,092 9,335,150 19,002,851 9,822,165 Diluted (loss) income per common share $ (0.50 ) $ 0.39 $ (0.12 ) $ 0.21 Because the Company reported a loss for both 2018 periods common stock equivalents were excluded from the calculation of diluted average shares outstanding, as their inclusion would have resulted in a lower diluted loss per share 25,326 - 27,245 - |
Risk-Based Capital (Tables)
Risk-Based Capital (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | The following table reflects Bancorp’s and the Bank’s capital at June 30, 2018 and December 31, 2017: To be well capitalized under the FDICIA For capital prompt corrective Actual adequacy purposes action provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of June 30, 2018: Total capital (to risk-weighted assets) Howard Bank $ 185,421 10.78 % $ 137,624 8.00 % $ 172,030 10.00 % Howard Bancorp $ 187,072 10.83 % $ 138,245 8.00 % N/A Common equity tier 1 capital (to risk-weighted assets) Howard Bank $ 178,802 10.39 % $ 77,414 4.50 % $ 111,820 6.50 % Howard Bancorp $ 176,878 10.24 % $ 77,763 4.50 % N/A Tier 1 capital (to risk-weighted assets) Howard Bank $ 178,802 10.39 % $ 103,218 6.00 % $ 137,624 8.00 % Howard Bancorp $ 176,878 10.24 % $ 103,684 6.00 % N/A Tier 1 capital (to average assets) (Leverage ratio) Howard Bank $ 178,802 8.85 % $ 80,791 4.00 % $ 100,989 5.00 % Howard Bancorp $ 176,878 8.76 % $ 80,724 4.00 % N/A As of December 31, 2017: Total capital (to risk-weighted assets) Howard Bank $ 125,019 12.39 % $ 80,720 8.00 % $ 100,900 10.00 % Howard Bancorp $ 139,673 13.72 % $ 81,456 8.00 % N/A Common equity tier 1 capital (to risk-weighted assets) Howard Bank $ 118,860 11.78 % $ 45,405 4.50 % $ 65,585 6.50 % Howard Bancorp $ 129,979 12.77 % $ 45,819 4.50 % N/A Tier 1 capital (to risk-weighted assets) Howard Bank $ 118,860 11.78 % $ 60,540 6.00 % $ 80,720 8.00 % Howard Bancorp $ 129,979 12.77 % $ 61,092 6.00 % N/A Tier 1 capital (to average assets) (Leverage ratio) Howard Bank $ 118,860 10.70 % $ 44,438 4.00 % $ 55,547 5.00 % Howard Bancorp $ 129,979 11.70 % $ 44,439 4.00 % N/A |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at June 30, 2018 and December 31, 2017. June 30, 2018 Quoted Price in Significant Active Markets Other Significant Carrying for Identical Observable Unobservable Value Assets Inputs Inputs (in thousands) (Fair Value) (Level 1) (Level 2) (Level 3) Available for sale securities: U.S. Government agencies $ 74,584 $ - $ 74,584 $ - U.S. Government treasuries 1,496 - 1,496 - Mortgage-backed securities 48,325 - 48,325 - Other investments 3,126 - 3,126 - Loans held for sale 55,956 - 55,956 - Loans held for investment 1,345 - 1,345 - Rate lock commitments 244 - - 244 December 31, 2017 Quoted Price in Significant Active Markets Other Significant Carrying for Identical Observable Unobservable Value Assets Inputs Inputs (in thousands) (Fair Value) (Level 1) (Level 2) (Level 3) Available for sale securities: U.S. Government agencies $ 67,740 $ - $ 67,740 $ - U.S. Government treasuries 1,494 - 1,494 - Mortgage-backed securities 2,479 - 2,479 - Other investments 2,543 - 2,464 79 Loans held for sale 42,153 - 42,153 - Loans held for investment 1,509 - 1,509 - Rate lock commitments 451 - - 451 |
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following table presents a reconciliation of the assets that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods presented: June 30 December 31 2018 2017 Balance, beginning of period $ 530 $ 528 Privately held equity investment (42 ) 79 Net gains (losses) included in realized and unrealized gains on mortgage banking activity in noninterest income (244 ) (77 ) Balance, end of period $ 244 $ 530 |
Schedule Of Assets Held For Sale Fair Value Options [Table Text Block] | Assets under fair value option: June 30, 2018 Carrying Aggregate Fair Value Unpaid (in thousands) Amount Principal Difference Loans held for sale $ 55,956 $ 54,733 $ 1,223 Loans held for investment 1,345 1,374 (29 ) December 31, 2017 Carrying Aggregate Fair Value Unpaid (in thousands) Amount Principal Difference Loans held for sale $ 42,153 $ 40,990 $ 1,163 Loans held for investment 1,509 1,476 33 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | The following table sets forth the Company’s financial assets and liabilities that were accounted for or disclosed at fair value on a nonrecurring basis at June 30, 2018 and December 31, 2017. OREO is carried at fair value less anticipated costs to sell. Impaired loans are measured using the fair value of collateral, if applicable. June 30, 2018 Quoted Price in Significant Active Markets Other Significant Carrying for Identical Observable Unobservable Value Assets Inputs Inputs (in thousands) (Fair Value) (Level 1) (Level 2) (Level 3) Other real estate owned $ 4,115 $ - $ - $ 4,115 Impaired loans: Construction and land 1,409 - - 1,409 Residential - first lien 16,065 - - 16,065 Residential - junior lien 884 - - 884 Commercial - owner occupied 1,757 - - 1,757 Commercial - non-owner occupied 6,081 - - 6,081 Commercial loans and leases 2,358 - - 2,358 Consumer 151 - - 151 December 31, 2017 Quoted Price in Significant Active Markets Other Significant Carrying for Identical Observable Unobservable Value Assets Inputs Inputs (in thousands) (Fair Value) (Level 1) (Level 2) (Level 3) Other real estate owned $ 1,549 $ - $ - $ 1,549 Impaired loans: Construction and land 559 - - 559 Residential - first lien 2,009 - - 2,009 Residential - junior lien 367 - - 367 Commercial - owner occupied 508 - - 508 Commercial - non-owner occupied 5,856 - - 5,856 Commercial loans and leases 3,056 - - 3,056 Consumer - - - - |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table presents the estimated fair value of the Company’s financial instruments at the dates indicated: June 30, 2018 Quoted Price in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs (in thousands) Amount Value (Level 1) (Level 2) (Level 3) Financial Assets Available for sale securities $ 127,530 $ 127,530 $ - $ 127,530 $ - Held to maturity securities 9,250 9,417 - - 9,417 Nonmarketable equity securities 14,485 14,485 - 14,485 - Loans held for sale 55,956 55,956 - 55,956 - Loans held for investment 1,345 1,345 - 1,345 - Rate lock commitments 244 244 - - 244 Loans and leases 1 1,602,014 1,578,707 - - 1,578,707 Financial Liabilities Deposits 1,565,644 1,566,981 - 1,566,981 - Short-term borrowings 189,112 189,112 - 189,112 - Long-term borrowings 127,575 127,744 - 127,744 - December 31, 2017 Quoted Price in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs (in thousands) Amount Value (Level 1) (Level 2) (Level 3) Financial Assets Available for sale securities $ 74,256 $ 74,256 $ - $ 74,177 $ 79 Held to maturity securities 9,250 9,421 - - 9,421 Nonmarketable equity securities 6,492 6,492 - 6,492 - Loans held for sale 42,153 42,153 - 42,153 - Loans held for investment 1,509 1,509 - 1,509 - Rate lock commitments 451 451 - - 451 Loans and leases 1 928,940 925,510 - - 925,510 Financial Liabilities Deposits 863,908 865,182 - 865,182 - Short-term borrowings 130,385 130,385 - 130,385 - Long-term borrowings 18,535 18,538 - 18,538 - (1) Carrying amount is net of unearned income and allowance for loan and lease losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans as of June 30, 2018 was measured using an exit price notion. The fair value of loans as of December 31, 2017 was measured using an entry price notion. |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Revenue Recognition [Abstract] | |
Disaggregation of Revenue [Table Text Block] | The following presents noninterest income, segregated by revenue streams in scope and out of scope of Topic 606, for the six and three months ended June 30, 2018 and 2017. Unaudited For the six months ended For the three months ended June 30, June 30, (in thousands) 2018 2017 2018 2017 NONINTEREST INCOME Service charges on deposit accounts $ 247 $ 136 $ 152 $ 83 Fees and other services charges 1,094 454 689 246 Other 39 32 20 14 Noninterest income in scope of Topic 606 1,380 622 861 343 Noninterest income out of scope of Topic 606 8,941 9,129 4,756 4,949 Total noninterest income $ 10,321 $ 9,751 $ 5,617 $ 5,292 |
Summary of Significant Accoun33
Summary of Significant Accounting Policies (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Feb. 01, 2017 | Feb. 28, 2018 | Jun. 30, 2018 | Jun. 30, 2017 |
Summary of Significant Accounting Policies [Line Items] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 9,143,222 | |||
Business Acquisition, Equity Interest Issued or Issuable, Description | At the effective time of the Merger, pursuant to the terms of the Agreement, each outstanding share of First Mariner common stock and First Mariner Series A Non-Voting Non-Cumulative Perpetual Preferred Stock issued and outstanding was cancelled and converted into the right to receive 1.6624 shares of Bancorp common stock. | |||
Stock Issued During Period, Value, New Issues | $ 101 | $ 110 | ||
Over-Allotment Option [Member] | ||||
Summary of Significant Accounting Policies [Line Items] | ||||
Stock Issued During Period, Shares, Acquisitions | 360,000 | |||
Shares Issued, Price Per Share | $ 15 | |||
Employee Stock [Member] | ||||
Summary of Significant Accounting Policies [Line Items] | ||||
Stock Issued During Period, Shares, Acquisitions | 2,760,000 | |||
Proceeds from Issuance or Sale of Equity | $ 38,400 | |||
Stock Issued During Period, Value, New Issues | $ 41,400 | |||
First Mariner Bank [Member] | ||||
Summary of Significant Accounting Policies [Line Items] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 9,143,222 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended | ||
Feb. 28, 2018 | Jun. 30, 2018 | Mar. 01, 2018 | Dec. 31, 2017 | |
Purchase Price Consideration | ||||
Cash consideration | $ 9,200 | |||
Purchase price assigned to shares exchanged for stock | 164,600 | |||
Total purchase price for First Mariner acquisition | 173,800 | |||
Liabilities assumed at fair value: | ||||
Transaction consideration paid to First Mariner | $ 173,800 | |||
Amount of goodwill recorded from First Mariner Acquisition | $ 71,278 | $ 603 | ||
First Mariner Bank [Member] | ||||
Purchase Price Consideration | ||||
Cash consideration | 9,245 | |||
Purchase price assigned to shares exchanged for stock | 164,578 | |||
Total purchase price for First Mariner acquisition | 173,823 | |||
Assets acquired at fair value: | ||||
Cash and cash equivalents | 38,530 | |||
Interest bearing deposits with banks | 3,920 | |||
Investment securities available for sale | 130,302 | |||
Loans held for sale | 28,189 | |||
Loans | 664,338 | $ 664,338 | ||
Accrued interest receivable | 3,023 | |||
Other assets | 119,826 | |||
Core deposit intangible | 12,588 | |||
Total fair value of assets acquired | 1,000,717 | |||
Liabilities assumed at fair value: | ||||
Deposits | 706,435 | |||
Borrowings | 185,020 | |||
Accrued expenses and other liabilities | 6,114 | |||
Total fair value of liabilities assumed | 897,569 | |||
Net assets acquired at fair value: | 103,148 | |||
Transaction consideration paid to First Mariner | 173,823 | |||
Amount of goodwill recorded from First Mariner Acquisition | $ 70,675 |
Business Combinations (Details
Business Combinations (Details 1) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 01, 2018 | Dec. 31, 2017 |
First Mariner Bank [Member] | |||
Business Acquisition [Line Items] | |||
Contractually Required Payments Receivable | $ 684,091 | ||
Non-Accretable Credit Adjustment | 9,644 | ||
Cash Flows Expected to be Collected | 674,447 | ||
Accretable FMV Adjustment | 10,109 | ||
Carrying Value of Loans Receivable | $ 664,338 | 664,338 | |
Performing Loans Acquired [Member] | First Mariner Bank [Member] | |||
Business Acquisition [Line Items] | |||
Contractually Required Payments Receivable | 654,600 | 654,621 | |
Non-Accretable Credit Adjustment | 0 | ||
Cash Flows Expected to be Collected | 654,621 | ||
Accretable FMV Adjustment | 9,100 | 9,054 | |
Carrying Value of Loans Receivable | 645,567 | ||
Impaired Loans Acquired [Member] | |||
Business Acquisition [Line Items] | |||
Contractually Required Payments Receivable | 17,166 | $ 1,292 | |
Impaired Loans Acquired [Member] | First Mariner Bank [Member] | |||
Business Acquisition [Line Items] | |||
Contractually Required Payments Receivable | 29,470 | ||
Non-Accretable Credit Adjustment | $ 9,600 | 9,644 | |
Cash Flows Expected to be Collected | 19,826 | ||
Accretable FMV Adjustment | 1,055 | ||
Carrying Value of Loans Receivable | $ 18,771 |
Business Combinations (Detail36
Business Combinations (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Business Acquisition [Line Items] | ||||
Compensation related | $ 9,860 | |||
Equipment disposition | 1,918 | |||
Legal and consulting | 2,005 | |||
Contract Terminations | 925 | |||
Accounting & other | 965 | |||
Total | $ 5,698 | $ 0 | $ 15,673 | $ 0 |
Business Combinations (Detail37
Business Combinations (Details 3) - First Mariner [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Business Acquisition [Line Items] | ||||
Net interest income after provision | $ 17,064 | $ 16,920 | $ 32,953 | $ 32,931 |
Noninterest income | 5,617 | 8,277 | 12,351 | 16,624 |
Noninterest expense | 20,190 | 22,974 | 41,304 | 45,595 |
Net income | $ 1,805 | $ 1,082 | $ 2,899 | $ 1,918 |
Net income per share | $ 0.10 | $ 0.07 | $ 0.15 | $ 0.13 |
Business Combinations (Detail38
Business Combinations (Details Textual) $ / shares in Units, $ in Thousands | 1 Months Ended | 6 Months Ended | ||
Feb. 28, 2018USD ($)$ / sharesshares | Jun. 30, 2018USD ($)Numbershares | Mar. 01, 2018USD ($) | Dec. 31, 2017USD ($) | |
Business Acquisition [Line Items] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 9,143,222 | |||
Business Combination, Consideration Transferred | $ 173,800 | |||
Payments to Acquire Businesses, Gross | 9,200 | |||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 164,600 | |||
Business Acquisition, Share Price | $ / shares | $ 18 | |||
Business Acquisition, Equity Interest Issued or Issuable, Description | At the effective time of the Merger, pursuant to the terms of the Agreement, each outstanding share of First Mariner common stock and First Mariner Series A Non-Voting Non-Cumulative Perpetual Preferred Stock issued and outstanding was cancelled and converted into the right to receive 1.6624 shares of Bancorp common stock. | |||
Impaired Loans Acquired [Member] | ||||
Business Acquisition [Line Items] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 17,166 | $ 1,292 | ||
First Mariner Bank [Member] | ||||
Business Acquisition [Line Items] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 684,091 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Fair Market Value Adjustments | 10,109 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities non Accretable Fair Market Value Adjustments | 9,644 | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 9,143,222 | |||
Business Combination, Consideration Transferred | $ 173,823 | |||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | 70,700 | |||
Payments to Acquire Businesses, Gross | 9,245 | |||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 164,578 | |||
First Mariner Bank [Member] | Performing Financial Instruments [Member] | ||||
Business Acquisition [Line Items] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 654,600 | 654,621 | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Fair Market Value Adjustments | $ 9,100 | 9,054 | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities non Accretable Fair Market Value Adjustments | 0 | |||
Number Of Loans | Number | 2,700 | |||
First Mariner Bank [Member] | Impaired Loans Acquire [Member] | ||||
Business Acquisition [Line Items] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 29,500 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Fair Market Value Adjustments | $ 1,100 | |||
Number Of Loans | 57 | |||
First Mariner Bank [Member] | Impaired Loans Acquired [Member] | ||||
Business Acquisition [Line Items] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 29,470 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Fair Market Value Adjustments | 1,055 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities non Accretable Fair Market Value Adjustments | $ 9,600 | $ 9,644 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Schedule of Investments [Line Items] | ||
Amortized Cost | $ 128,030 | $ 74,707 |
Gross Unrealized Gains | 70 | 0 |
Gross Unrealized Losses | 570 | 451 |
Estimated Fair Value | 127,530 | 74,256 |
Corporate debentures[Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost | 9,250 | 9,250 |
Gross Unrealized Gains | 180 | 188 |
Gross Unrealized Losses | 13 | 17 |
Estimated Fair Value | 9,417 | 9,421 |
Other Investments [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost | 3,077 | 2,579 |
Gross Unrealized Gains | 49 | 0 |
Gross Unrealized Losses | 0 | 36 |
Estimated Fair Value | 3,126 | 2,543 |
U.S Government Agencies [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost | 75,007 | 68,082 |
Gross Unrealized Gains | 9 | 0 |
Gross Unrealized Losses | 432 | 342 |
Estimated Fair Value | 74,584 | 67,740 |
U.S.Government Treasuries [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost | 1,502 | 1,505 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 6 | 11 |
Estimated Fair Value | 1,496 | 1,494 |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost | 48,445 | 2,541 |
Gross Unrealized Gains | 12 | 0 |
Gross Unrealized Losses | 132 | 62 |
Estimated Fair Value | $ 48,325 | $ 2,479 |
Investment Securities (Details
Investment Securities (Details 1) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | $ 80,995 | $ 58,005 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 396 | 264 |
Individual securities, 12 months or more, Fair Value | 17,952 | 16,193 |
Individual securities, 12 months or more, Gross Unrealized Losses | 273 | 187 |
Individual securities, Total, Fair Value | 98,947 | 74,198 |
Individual securities, Total, Gross Unrealized Losses | 669 | 451 |
Corporate Debt Securities [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | 2,750 | 500 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 13 | 17 |
Individual securities, 12 months or more, Fair Value | 0 | 0 |
Individual securities, 12 months or more, Gross Unrealized Losses | 0 | 0 |
Individual securities, Total, Fair Value | 2,750 | 500 |
Individual securities, Total, Gross Unrealized Losses | 13 | 17 |
Other Investments [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | 3,230 | 2,500 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 99 | 36 |
Individual securities, 12 months or more, Fair Value | 0 | 0 |
Individual securities, 12 months or more, Gross Unrealized Losses | 0 | 0 |
Individual securities, Total, Fair Value | 3,230 | 2,500 |
Individual securities, Total, Gross Unrealized Losses | 99 | 36 |
US Government Agencies [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | 47,237 | 54,303 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 236 | 216 |
Individual securities, 12 months or more, Fair Value | 15,364 | 13,437 |
Individual securities, 12 months or more, Gross Unrealized Losses | 196 | 126 |
Individual securities, Total, Fair Value | 62,601 | 67,740 |
Individual securities, Total, Gross Unrealized Losses | 432 | 342 |
U.S.Government Treasuries [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | 0 | 0 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 0 | 0 |
Individual securities, 12 months or more, Fair Value | 1,496 | 1,494 |
Individual securities, 12 months or more, Gross Unrealized Losses | 6 | 11 |
Individual securities, Total, Fair Value | 1,496 | 1,494 |
Individual securities, Total, Gross Unrealized Losses | 6 | 11 |
Collateralized Mortgage Backed Securities [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | 30,528 | 1,202 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 61 | 12 |
Individual securities, 12 months or more, Fair Value | 1,092 | 1,262 |
Individual securities, 12 months or more, Gross Unrealized Losses | 71 | 50 |
Individual securities, Total, Fair Value | 31,620 | 2,464 |
Individual securities, Total, Gross Unrealized Losses | $ 132 | $ 62 |
Investment Securities (Detail41
Investment Securities (Details 2) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Amounts maturing: | ||
One year or less, Amortized Cost | $ 12,520 | $ 35,105 |
After one through five years, Amortized Cost | 64,000 | 34,489 |
After five through ten years, Amortized Cost | 16,927 | 9,257 |
After ten years, Amortized Cost | 43,833 | 2,526 |
Amortized Cost | 137,280 | 81,377 |
One year or less, Estimated Fair value | 12,410 | 34,995 |
After one through five years, Estimated Fair value | 63,681 | 34,248 |
After five through ten years, Estimated Fair value | 17,133 | 9,428 |
After ten years, Estimated Fair value | 43,723 | 2,464 |
Estimated Fair Value | $ 136,947 | $ 81,135 |
Investment Securities (Detail42
Investment Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Securities Pledged For Repurchase Agreements [Line Items] | ||||||
Gain (loss) on the sale of securities | $ 0 | $ 0 | $ (139) | $ 0 | ||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | 34,800 | 34,800 | $ 28,800 | |||
Available-for-sale Securities | $ 127,530 | $ 127,530 | $ 74,256 | |||
First Mariner Securities [Member] | ||||||
Securities Pledged For Repurchase Agreements [Line Items] | ||||||
Gain (loss) on the sale of securities | $ 139 | |||||
Proceeds from Sale and Maturity of Marketable Securities | 69,370 | |||||
Available-for-sale Securities | 51,000 | |||||
Pre-Acquisition Investment Securities [Member] | ||||||
Securities Pledged For Repurchase Agreements [Line Items] | ||||||
Proceeds from Sale and Maturity of Marketable Securities | $ 33,000 |
Loans and Leases (Details)
Loans and Leases (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 977,910 | |
Loans and Leases, Acquisitions | 632,068 | |
Loans and Leases | $ 1,609,978 | $ 936,608 |
Loans and Leases, Net Percent | 100.00% | 100.00% |
Construction and Land [Member] | ||
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 74,136 | |
Loans and Leases, Acquisitions | 40,767 | |
Loans and Leases | $ 114,903 | $ 74,398 |
Loans and Leases, Net Percent | 7.10% | 7.90% |
Residential - First Lien [Member] | ||
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 190,465 | |
Loans and Leases, Acquisitions | 182,214 | |
Loans and Leases | $ 372,679 | $ 194,896 |
Loans and Leases, Net Percent | 23.10% | 20.80% |
Residential - Junior Lien [Member] | ||
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 45,429 | |
Loans and Leases, Acquisitions | 50,439 | |
Loans and Leases | $ 95,868 | $ 43,047 |
Loans and Leases, Net Percent | 6.00% | 4.60% |
Residential Real Estate [Member] | ||
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 235,894 | |
Loans and Leases, Acquisitions | 232,653 | |
Loans and Leases | $ 468,547 | $ 237,943 |
Loans and Leases, Net Percent | 29.10% | 25.40% |
Commercial - Owner Occupied [Member] | ||
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 180,482 | |
Loans and Leases, Acquisitions | 35,325 | |
Loans and Leases | $ 215,807 | $ 170,408 |
Loans and Leases, Net Percent | 13.40% | 18.20% |
Commercial-Non-Owner Occupied [Member] | ||
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 266,011 | |
Loans and Leases, Acquisitions | 162,541 | |
Loans and Leases | $ 428,552 | $ 260,802 |
Loans and Leases, Net Percent | 26.60% | 27.80% |
Commercial Real Estate [Member] | ||
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 446,493 | |
Loans and Leases, Acquisitions | 197,866 | |
Loans and Leases | $ 644,359 | $ 431,210 |
Loans and Leases, Net Percent | 40.00% | 46.00% |
Real Estate [Member] | ||
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 756,523 | |
Loans and Leases, Acquisitions | 471,286 | |
Loans and Leases | $ 1,227,809 | $ 743,551 |
Loans and Leases, Net Percent | 76.20% | 79.30% |
Commercial Loans and Leases [Member] | ||
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 217,649 | |
Loans and Leases, Acquisitions | 122,447 | |
Loans and Leases | $ 340,096 | $ 188,729 |
Loans and Leases, Net Percent | 21.20% | 20.20% |
Consumer Loans [Member] | ||
Loans and Leases Receivable [Line Items] | ||
Loans and Leases, Legacy | $ 3,738 | |
Loans and Leases, Acquisitions | 38,335 | |
Loans and Leases | $ 42,073 | $ 4,328 |
Loans and Leases, Net Percent | 2.60% | 0.50% |
Loans and Leases (Details 1)
Loans and Leases (Details 1) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Balance at beginning of period | $ 936,608 | |
Balance at end of period | 1,609,978 | |
Impaired Financing Receivable [Member] | ||
Balance at beginning of period | 0 | $ 60 |
Impaired loans acquired | 1,055 | 0 |
Accretion of fair value discounts | (34) | (53) |
Balance at end of period | $ 1,021 | $ 7 |
Loans and Leases (Details 2)
Loans and Leases (Details 2) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Carrying Amount | $ 13,265 | |
Impaired Loans Acquired [Member] | ||
Contractually Required Payments Receivable | $ 17,166 | 1,292 |
Carrying Amount | $ 12,611 | $ 851 |
Loans and Leases (Details Textu
Loans and Leases (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans and Leases Receivable [Line Items] | ||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | $ 106 | $ 54 |
Credit Quality Assessment (Deta
Credit Quality Assessment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses, Beginning balance | $ 6,148 | $ 5,360 | $ 6,159 | $ 6,428 | |
Allowance for credit losses, Charge-offs | (964) | (344) | (2,161) | (1,637) | |
Allowance for credit losses, Recoveries | 10 | 29 | 76 | 54 | |
Allowance for credit losses, Provision for credit losses | 1,425 | 340 | 2,545 | 540 | |
Allowance for credit losses, Ending balance | 6,619 | 5,385 | 6,619 | 5,385 | |
Allowance allocated to Individually Evaluated for Impairment | 25 | 25 | $ 910 | ||
Allowance allocated to Collectively Evaluated for Impairment | 6,594 | 6,594 | 5,249 | ||
Loans, Ending balance | 1,609,978 | 1,609,978 | 936,608 | ||
Loans purchased credit impaired loans | 13,265 | ||||
Loans collectively evaluated for impairment | 923,343 | ||||
Legacy Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 977,910 | 977,910 | |||
Loans purchased credit impaired loans | 16,107 | 16,107 | |||
Loans collectively evaluated for impairment | 961,803 | 961,803 | |||
Acquired Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 632,068 | 632,068 | |||
Loans purchased credit impaired loans | 12,623 | 12,623 | |||
Loans collectively evaluated for impairment | 619,445 | 619,445 | |||
Construction and Land [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses, Beginning balance | 563 | 534 | 735 | 511 | |
Allowance for credit losses, Charge-offs | 0 | 0 | (202) | 0 | |
Allowance for credit losses, Recoveries | 0 | 0 | 0 | 0 | |
Allowance for credit losses, Provision for credit losses | 98 | 28 | 128 | 51 | |
Allowance for credit losses, Ending balance | 661 | 562 | 661 | 562 | |
Allowance allocated to Individually Evaluated for Impairment | 0 | 0 | 202 | ||
Allowance allocated to Collectively Evaluated for Impairment | 661 | 661 | 533 | ||
Loans, Ending balance | 114,903 | 114,903 | 74,398 | ||
Loans purchased credit impaired loans | 761 | ||||
Loans collectively evaluated for impairment | 73,637 | ||||
Construction and Land [Member] | Legacy Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 74,136 | 74,136 | |||
Loans purchased credit impaired loans | 560 | 560 | |||
Loans collectively evaluated for impairment | 73,576 | 73,576 | |||
Construction and Land [Member] | Acquired Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 40,767 | 40,767 | |||
Loans purchased credit impaired loans | 849 | 849 | |||
Loans collectively evaluated for impairment | 39,918 | 39,918 | |||
Residential - First Lien [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses, Beginning balance | 736 | 504 | 668 | 454 | |
Allowance for credit losses, Charge-offs | (3) | (82) | (102) | (132) | |
Allowance for credit losses, Recoveries | 2 | 0 | 1 | 0 | |
Allowance for credit losses, Provision for credit losses | (55) | 121 | 113 | 221 | |
Allowance for credit losses, Ending balance | 680 | 543 | 680 | 543 | |
Allowance allocated to Individually Evaluated for Impairment | 0 | 0 | 0 | ||
Allowance allocated to Collectively Evaluated for Impairment | 680 | 680 | 668 | ||
Loans, Ending balance | 372,679 | 372,679 | 194,896 | ||
Loans purchased credit impaired loans | 2,009 | ||||
Loans collectively evaluated for impairment | 192,887 | ||||
Residential - First Lien [Member] | Legacy Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance allocated to Individually Evaluated for Impairment | 6,483 | 6,483 | |||
Allowance allocated to Collectively Evaluated for Impairment | 183,982 | 183,982 | |||
Loans, Ending balance | 190,465 | 190,465 | |||
Residential - First Lien [Member] | Acquired Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 182,214 | 182,214 | |||
Loans purchased credit impaired loans | 9,582 | 9,582 | |||
Loans collectively evaluated for impairment | 172,632 | 172,632 | |||
Residential - Junior Lien [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses, Beginning balance | 186 | 99 | 177 | 89 | |
Allowance for credit losses, Charge-offs | (60) | (8) | (149) | (31) | |
Allowance for credit losses, Recoveries | 0 | 1 | 0 | 1 | |
Allowance for credit losses, Provision for credit losses | 87 | 19 | 185 | 52 | |
Allowance for credit losses, Ending balance | 213 | 111 | 213 | 111 | |
Allowance allocated to Individually Evaluated for Impairment | 0 | 0 | 29 | ||
Allowance allocated to Collectively Evaluated for Impairment | 213 | 213 | 148 | ||
Loans, Ending balance | 95,868 | 95,868 | 43,047 | ||
Loans purchased credit impaired loans | 396 | ||||
Loans collectively evaluated for impairment | 42,651 | ||||
Residential - Junior Lien [Member] | Legacy Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance allocated to Individually Evaluated for Impairment | 105 | 105 | |||
Allowance allocated to Collectively Evaluated for Impairment | 45,324 | 45,324 | |||
Loans, Ending balance | 45,429 | 45,429 | |||
Residential - Junior Lien [Member] | Acquired Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 50,439 | 50,439 | |||
Loans purchased credit impaired loans | 779 | 779 | |||
Loans collectively evaluated for impairment | 49,660 | 49,660 | |||
Commercial - Owner Occupied [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses, Beginning balance | 698 | 395 | 617 | 327 | |
Allowance for credit losses, Charge-offs | 0 | 0 | (1) | 0 | |
Allowance for credit losses, Recoveries | 0 | 0 | 0 | 0 | |
Allowance for credit losses, Provision for credit losses | 28 | 6 | 110 | 74 | |
Allowance for credit losses, Ending balance | 726 | 401 | 726 | 401 | |
Allowance allocated to Individually Evaluated for Impairment | 0 | 0 | 0 | ||
Allowance allocated to Collectively Evaluated for Impairment | 726 | 726 | 617 | ||
Loans, Ending balance | 215,807 | 215,807 | 170,408 | ||
Loans purchased credit impaired loans | 508 | ||||
Loans collectively evaluated for impairment | 169,900 | ||||
Commercial - Owner Occupied [Member] | Legacy Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance allocated to Individually Evaluated for Impairment | 508 | 508 | |||
Allowance allocated to Collectively Evaluated for Impairment | 179,974 | 179,974 | |||
Loans, Ending balance | 180,482 | 180,482 | |||
Commercial - Owner Occupied [Member] | Acquired Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 35,325 | 35,325 | |||
Loans purchased credit impaired loans | 1,249 | 1,249 | |||
Loans collectively evaluated for impairment | 34,076 | 34,076 | |||
Commercial - Non-Owner Occupied [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses, Beginning balance | 1,470 | 1,098 | 1,410 | 1,120 | |
Allowance for credit losses, Charge-offs | (212) | 0 | (746) | 0 | |
Allowance for credit losses, Recoveries | 0 | 2 | 2 | 3 | |
Allowance for credit losses, Provision for credit losses | 365 | 76 | 957 | 53 | |
Allowance for credit losses, Ending balance | 1,623 | 1,176 | 1,623 | 1,176 | |
Allowance allocated to Individually Evaluated for Impairment | 0 | 0 | 11 | ||
Allowance allocated to Collectively Evaluated for Impairment | 1,623 | 1,623 | 1,399 | ||
Loans, Ending balance | 428,552 | 428,552 | 260,802 | ||
Loans purchased credit impaired loans | 5,867 | ||||
Loans collectively evaluated for impairment | 254,935 | ||||
Commercial - Non-Owner Occupied [Member] | Legacy Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance allocated to Individually Evaluated for Impairment | 6,081 | 6,081 | |||
Allowance allocated to Collectively Evaluated for Impairment | 259,930 | 259,930 | |||
Loans, Ending balance | 266,011 | 266,011 | |||
Commercial - Non-Owner Occupied [Member] | Acquired Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 162,541 | 162,541 | |||
Loans purchased credit impaired loans | 0 | 0 | |||
Loans collectively evaluated for impairment | 162,541 | 162,541 | |||
Commercial - Loan and Leases [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses, Beginning balance | 2,472 | 2,661 | 2,529 | 3,800 | |
Allowance for credit losses, Charge-offs | (644) | (254) | (912) | (1,366) | |
Allowance for credit losses, Recoveries | 7 | 16 | 68 | 28 | |
Allowance for credit losses, Provision for credit losses | 832 | 67 | 982 | 28 | |
Allowance for credit losses, Ending balance | 2,667 | 2,490 | 2,667 | 2,490 | |
Allowance allocated to Individually Evaluated for Impairment | 25 | 25 | 668 | ||
Allowance allocated to Collectively Evaluated for Impairment | 2,642 | 2,642 | 1,861 | ||
Loans, Ending balance | 188,729 | ||||
Loans purchased credit impaired loans | 3,724 | ||||
Loans collectively evaluated for impairment | 185,005 | ||||
Commercial - Loan and Leases [Member] | Legacy Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance allocated to Individually Evaluated for Impairment | 2,370 | 2,370 | |||
Allowance allocated to Collectively Evaluated for Impairment | 215,279 | 215,279 | |||
Loans, Ending balance | 217,649 | 217,649 | |||
Commercial - Loan and Leases [Member] | Acquired Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 122,447 | 122,447 | |||
Loans purchased credit impaired loans | 13 | 13 | |||
Loans collectively evaluated for impairment | 122,434 | 122,434 | |||
Consumer Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses, Beginning balance | 23 | 69 | 23 | 127 | |
Allowance for credit losses, Charge-offs | (45) | 0 | (49) | (108) | |
Allowance for credit losses, Recoveries | 1 | 10 | 5 | 22 | |
Allowance for credit losses, Provision for credit losses | 70 | 23 | 70 | 61 | |
Allowance for credit losses, Ending balance | 49 | $ 102 | 49 | $ 102 | |
Allowance allocated to Individually Evaluated for Impairment | 0 | 0 | 0 | ||
Allowance allocated to Collectively Evaluated for Impairment | 49 | 49 | 23 | ||
Loans, Ending balance | 42,073 | 42,073 | 4,328 | ||
Loans purchased credit impaired loans | 0 | ||||
Loans collectively evaluated for impairment | $ 4,328 | ||||
Consumer Loans [Member] | Legacy Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance allocated to Individually Evaluated for Impairment | 0 | 0 | |||
Allowance allocated to Collectively Evaluated for Impairment | 3,738 | 3,738 | |||
Loans, Ending balance | 3,738 | 3,738 | |||
Consumer Loans [Member] | Acquired Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 38,335 | 38,335 | |||
Loans purchased credit impaired loans | 151 | 151 | |||
Loans collectively evaluated for impairment | $ 38,184 | $ 38,184 |
Credit Quality Assessment (De48
Credit Quality Assessment (Details 1) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | $ 1,609,978 | $ 936,608 |
Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 977,910 | |
Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 632,068 | |
Not Classified [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 921,927 | |
Not Classified [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 961,972 | |
Not Classified [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 614,672 | |
Special Mention [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 1,592 | |
Special Mention [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Special Mention [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 4,014 | |
Substandard [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 6,779 | |
Substandard [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 15,938 | |
Substandard [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 13,382 | |
Doubtful [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 6,310 | |
Doubtful [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Doubtful [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Construction and Land [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 114,903 | 74,398 |
Construction and Land [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 74,136 | |
Construction and Land [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 40,767 | |
Construction and Land [Member] | Not Classified [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 73,761 | |
Construction and Land [Member] | Not Classified [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 73,701 | |
Construction and Land [Member] | Not Classified [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 39,839 | |
Construction and Land [Member] | Special Mention [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Construction and Land [Member] | Special Mention [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Construction and Land [Member] | Special Mention [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 79 | |
Construction and Land [Member] | Substandard [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 637 | |
Construction and Land [Member] | Substandard [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 435 | |
Construction and Land [Member] | Substandard [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 849 | |
Construction and Land [Member] | Doubtful [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Construction and Land [Member] | Doubtful [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Construction and Land [Member] | Doubtful [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Residential - First Lien [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 372,679 | 194,896 |
Residential - First Lien [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 190,465 | |
Residential - First Lien [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 182,214 | |
Residential - First Lien [Member] | Not Classified [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 193,174 | |
Residential - First Lien [Member] | Not Classified [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 184,265 | |
Residential - First Lien [Member] | Not Classified [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 172,632 | |
Residential - First Lien [Member] | Special Mention [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Residential - First Lien [Member] | Special Mention [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Residential - First Lien [Member] | Special Mention [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Residential - First Lien [Member] | Substandard [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 1,103 | |
Residential - First Lien [Member] | Substandard [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 6,200 | |
Residential - First Lien [Member] | Substandard [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 9,582 | |
Residential - First Lien [Member] | Doubtful [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 619 | |
Residential - First Lien [Member] | Doubtful [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Residential - First Lien [Member] | Doubtful [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Residential Junior Lien [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 95,868 | 43,047 |
Residential Junior Lien [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 45,429 | |
Residential Junior Lien [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 50,439 | |
Residential Junior Lien [Member] | Not Classified [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 42,651 | |
Residential Junior Lien [Member] | Not Classified [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 45,324 | |
Residential Junior Lien [Member] | Not Classified [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 49,660 | |
Residential Junior Lien [Member] | Special Mention [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Residential Junior Lien [Member] | Special Mention [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Residential Junior Lien [Member] | Special Mention [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Residential Junior Lien [Member] | Substandard [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 5 | |
Residential Junior Lien [Member] | Substandard [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 105 | |
Residential Junior Lien [Member] | Substandard [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 779 | |
Residential Junior Lien [Member] | Doubtful [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 391 | |
Residential Junior Lien [Member] | Doubtful [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Residential Junior Lien [Member] | Doubtful [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Owner Occupied [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 215,807 | 170,408 |
Commercial Owner Occupied [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 180,482 | |
Commercial Owner Occupied [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 35,325 | |
Commercial Owner Occupied [Member] | Not Classified [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 169,900 | |
Commercial Owner Occupied [Member] | Not Classified [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 179,974 | |
Commercial Owner Occupied [Member] | Not Classified [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 29,584 | |
Commercial Owner Occupied [Member] | Special Mention [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Owner Occupied [Member] | Special Mention [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Owner Occupied [Member] | Special Mention [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 3,935 | |
Commercial Owner Occupied [Member] | Substandard [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 508 | |
Commercial Owner Occupied [Member] | Substandard [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 508 | |
Commercial Owner Occupied [Member] | Substandard [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 1,806 | |
Commercial Owner Occupied [Member] | Doubtful [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Owner Occupied [Member] | Doubtful [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Owner Occupied [Member] | Doubtful [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Non Owner Occupied [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 428,552 | 260,802 |
Commercial Non Owner Occupied [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 266,011 | |
Commercial Non Owner Occupied [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 162,541 | |
Commercial Non Owner Occupied [Member] | Not Classified [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 253,255 | |
Commercial Non Owner Occupied [Member] | Not Classified [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 259,845 | |
Commercial Non Owner Occupied [Member] | Not Classified [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 162,339 | |
Commercial Non Owner Occupied [Member] | Special Mention [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 1,592 | |
Commercial Non Owner Occupied [Member] | Special Mention [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Non Owner Occupied [Member] | Special Mention [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Non Owner Occupied [Member] | Substandard [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 3,725 | |
Commercial Non Owner Occupied [Member] | Substandard [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 6,166 | |
Commercial Non Owner Occupied [Member] | Substandard [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 202 | |
Commercial Non Owner Occupied [Member] | Doubtful [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 2,230 | |
Commercial Non Owner Occupied [Member] | Doubtful [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Non Owner Occupied [Member] | Doubtful [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Loan and Leases [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 188,729 | |
Commercial Loan and Leases [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 217,649 | |
Commercial Loan and Leases [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 122,447 | |
Commercial Loan and Leases [Member] | Not Classified [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 184,858 | |
Commercial Loan and Leases [Member] | Not Classified [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 215,125 | |
Commercial Loan and Leases [Member] | Not Classified [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 122,434 | |
Commercial Loan and Leases [Member] | Special Mention [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Loan and Leases [Member] | Special Mention [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Loan and Leases [Member] | Special Mention [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Loan and Leases [Member] | Substandard [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 801 | |
Commercial Loan and Leases [Member] | Substandard [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 2,524 | |
Commercial Loan and Leases [Member] | Substandard [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 13 | |
Commercial Loan and Leases [Member] | Doubtful [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 3,070 | |
Commercial Loan and Leases [Member] | Doubtful [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Commercial Loan and Leases [Member] | Doubtful [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Consumer Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 42,073 | 4,328 |
Consumer Loans [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 3,738 | |
Consumer Loans [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 38,335 | |
Consumer Loans [Member] | Not Classified [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 4,328 | |
Consumer Loans [Member] | Not Classified [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 3,738 | |
Consumer Loans [Member] | Not Classified [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 38,184 | |
Consumer Loans [Member] | Special Mention [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Consumer Loans [Member] | Special Mention [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Consumer Loans [Member] | Special Mention [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Consumer Loans [Member] | Substandard [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Consumer Loans [Member] | Substandard [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Consumer Loans [Member] | Substandard [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 151 | |
Consumer Loans [Member] | Doubtful [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | $ 0 | |
Consumer Loans [Member] | Doubtful [Member] | Legacy Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Acquired Loans [Member] | ||
Credit Quality Indicator [Line Items] | ||
Credit quality indicators | $ 0 |
Credit Quality Assessment (De49
Credit Quality Assessment (Details 2) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | $ 911,783 | ||
Total past due | 12,257 | ||
Non-accrual loans | 12,568 | ||
Total loans | $ 1,609,978 | 936,608 | |
30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 6,995 | ||
60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 1,790 | ||
Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 3,472 | ||
Legacy Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 960,147 | ||
Total past due | 2,314 | ||
Non-accrual loans | 15,449 | ||
Total loans | 977,910 | ||
Legacy Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 547 | ||
Legacy Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 1,613 | ||
Legacy Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 154 | ||
Acquired Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 614,956 | ||
Total past due | 4,489 | ||
Non-accrual loans | [1] | 12,623 | |
Total loans | 632,068 | ||
Acquired Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 933 | ||
Acquired Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 2,714 | ||
Acquired Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 842 | ||
Construction and Land [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 73,386 | ||
Total past due | 375 | ||
Non-accrual loans | 637 | ||
Total loans | 114,903 | 74,398 | |
Construction and Land [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 279 | ||
Construction and Land [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 96 | ||
Construction and Land [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Construction and Land [Member] | Legacy Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 73,701 | ||
Total past due | 0 | ||
Non-accrual loans | 435 | ||
Total loans | 74,136 | ||
Construction and Land [Member] | Legacy Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Construction and Land [Member] | Legacy Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Construction and Land [Member] | Legacy Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Construction and Land [Member] | Acquired Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 39,918 | ||
Total past due | 0 | ||
Non-accrual loans | [1] | 849 | |
Total loans | 40,767 | ||
Construction and Land [Member] | Acquired Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Construction and Land [Member] | Acquired Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Construction and Land [Member] | Acquired Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Residential - First Lien [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 185,135 | ||
Total past due | 8,039 | ||
Non-accrual loans | 1,722 | ||
Total loans | 372,679 | 194,896 | |
Residential - First Lien [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 6,381 | ||
Residential - First Lien [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 1,330 | ||
Residential - First Lien [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 328 | ||
Residential - First Lien [Member] | Legacy Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 182,916 | ||
Total past due | 1,349 | ||
Non-accrual loans | 6,200 | ||
Total loans | 190,465 | ||
Residential - First Lien [Member] | Legacy Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Residential - First Lien [Member] | Legacy Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 1,195 | ||
Residential - First Lien [Member] | Legacy Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 154 | ||
Residential - First Lien [Member] | Acquired Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 169,818 | ||
Total past due | 2,814 | ||
Non-accrual loans | [1] | 9,582 | |
Total loans | 182,214 | ||
Residential - First Lien [Member] | Acquired Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Residential - First Lien [Member] | Acquired Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 2,247 | ||
Residential - First Lien [Member] | Acquired Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 567 | ||
Residential Junior Lien [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 42,491 | ||
Total past due | 160 | ||
Non-accrual loans | 396 | ||
Total loans | 95,868 | 43,047 | |
Residential Junior Lien [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 110 | ||
Residential Junior Lien [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Residential Junior Lien [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 50 | ||
Residential Junior Lien [Member] | Legacy Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 44,771 | ||
Total past due | 553 | ||
Non-accrual loans | 105 | ||
Total loans | 45,429 | ||
Residential Junior Lien [Member] | Legacy Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 140 | ||
Residential Junior Lien [Member] | Legacy Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 413 | ||
Residential Junior Lien [Member] | Legacy Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Residential Junior Lien [Member] | Acquired Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 48,254 | ||
Total past due | 1,406 | ||
Non-accrual loans | [1] | 779 | |
Total loans | 50,439 | ||
Residential Junior Lien [Member] | Acquired Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 717 | ||
Residential Junior Lien [Member] | Acquired Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 430 | ||
Residential Junior Lien [Member] | Acquired Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 259 | ||
Commercial Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 169,596 | ||
Total past due | 304 | ||
Non-accrual loans | 508 | ||
Total loans | 215,807 | 170,408 | |
Commercial Owner Occupied [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 173 | ||
Commercial Owner Occupied [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Owner Occupied [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 131 | ||
Commercial Owner Occupied [Member] | Legacy Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 179,974 | ||
Total past due | 0 | ||
Non-accrual loans | 508 | ||
Total loans | 180,482 | ||
Commercial Owner Occupied [Member] | Legacy Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Owner Occupied [Member] | Legacy Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Owner Occupied [Member] | Legacy Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Owner Occupied [Member] | Acquired Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 34,076 | ||
Total past due | 0 | ||
Non-accrual loans | [1] | 1,249 | |
Total loans | 35,325 | ||
Commercial Owner Occupied [Member] | Acquired Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Owner Occupied [Member] | Acquired Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Owner Occupied [Member] | Acquired Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Non Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 251,608 | ||
Total past due | 3,327 | ||
Non-accrual loans | 5,867 | ||
Total loans | 428,552 | 260,802 | |
Commercial Non Owner Occupied [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Non Owner Occupied [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 364 | ||
Commercial Non Owner Occupied [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 2,963 | ||
Commercial Non Owner Occupied [Member] | Legacy Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 259,930 | ||
Total past due | 0 | ||
Non-accrual loans | 6,081 | ||
Total loans | 266,011 | ||
Commercial Non Owner Occupied [Member] | Legacy Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Non Owner Occupied [Member] | Legacy Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Non Owner Occupied [Member] | Legacy Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Non Owner Occupied [Member] | Acquired Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 162,541 | ||
Total past due | 0 | ||
Non-accrual loans | [1] | 0 | |
Total loans | 162,541 | ||
Commercial Non Owner Occupied [Member] | Acquired Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Non Owner Occupied [Member] | Acquired Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 0 | ||
Commercial Non Owner Occupied [Member] | Acquired Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Loan and Leases [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 185,239 | ||
Total past due | 52 | ||
Non-accrual loans | 3,438 | ||
Total loans | 188,729 | ||
Commercial Loan and Leases [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 52 | ||
Commercial Loan and Leases [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Loan and Leases [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Loan and Leases [Member] | Legacy Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 215,125 | ||
Total past due | 404 | ||
Non-accrual loans | 2,120 | ||
Total loans | 217,649 | ||
Commercial Loan and Leases [Member] | Legacy Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 404 | ||
Commercial Loan and Leases [Member] | Legacy Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Loan and Leases [Member] | Legacy Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Loan and Leases [Member] | Acquired Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 122,434 | ||
Total past due | 0 | ||
Non-accrual loans | [1] | 13 | |
Total loans | 122,447 | ||
Commercial Loan and Leases [Member] | Acquired Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Loan and Leases [Member] | Acquired Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Commercial Loan and Leases [Member] | Acquired Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Consumer Loan [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 4,328 | ||
Total past due | 0 | ||
Non-accrual loans | 0 | ||
Total loans | 42,073 | 4,328 | |
Consumer Loan [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Consumer Loan [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Consumer Loan [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | $ 0 | ||
Consumer Loan [Member] | Legacy Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 3,730 | ||
Total past due | 8 | ||
Non-accrual loans | 0 | ||
Total loans | 3,738 | ||
Consumer Loan [Member] | Legacy Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 3 | ||
Consumer Loan [Member] | Legacy Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 5 | ||
Consumer Loan [Member] | Legacy Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | ||
Consumer Loan [Member] | Acquired Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Accruing loans current | 37,915 | ||
Total past due | 269 | ||
Non-accrual loans | [1] | 151 | |
Total loans | 38,335 | ||
Consumer Loan [Member] | Acquired Loans [Member] | 30-59 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 216 | ||
Consumer Loan [Member] | Acquired Loans [Member] | 60-89 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 37 | ||
Consumer Loan [Member] | Acquired Loans [Member] | Greater than 90 days past due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | $ 16 | ||
[1] | Included are purchased credit impaired loans where the Company amortizes the accretable discount into interest income, however these loans do not accrue interest based on the terms of the loan. |
Credit Quality Assessment (De50
Credit Quality Assessment (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | ||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | $ 13,265 | |||
With an allowance recorded | 6,141 | |||
With no related allowance recorded | 7,124 | |||
Related allowance | $ 25 | $ 25 | 910 | |
Unpaid principal | 14,885 | |||
Average balance of impaired loans | 15,722 | |||
Interest income recognized | 373 | |||
Legacy Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 16,107 | 16,107 | ||
With an allowance recorded | 514 | 514 | ||
With no related allowance recorded | 15,593 | 15,593 | ||
Related allowance | 25 | 25 | ||
Unpaid principal | 18,482 | 18,482 | ||
Average balance of impaired loans | 19,707 | 20,120 | ||
Interest income recognized | 45 | 77 | ||
Acquired Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | [1] | 12,623 | 12,623 | |
Unpaid principal | 16,691 | 16,691 | ||
Average balance of impaired loans | 18,356 | 18,418 | ||
Interest income recognized | 187 | 240 | ||
Construction and Land [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 761 | |||
With an allowance recorded | 637 | |||
With no related allowance recorded | 124 | |||
Related allowance | 202 | |||
Unpaid principal | 762 | |||
Average balance of impaired loans | 756 | |||
Interest income recognized | 19 | |||
Construction and Land [Member] | Legacy Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 560 | 560 | ||
With an allowance recorded | 0 | 0 | ||
With no related allowance recorded | 560 | 560 | ||
Related allowance | 0 | 0 | ||
Unpaid principal | 762 | 762 | ||
Average balance of impaired loans | 762 | 762 | ||
Interest income recognized | 0 | 0 | ||
Construction and Land [Member] | Acquired Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | [1] | 849 | 849 | |
Unpaid principal | 1,118 | 1,118 | ||
Average balance of impaired loans | 1,118 | 1,118 | ||
Interest income recognized | 0 | 0 | ||
Residential - First Lien [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 2,009 | |||
With an allowance recorded | 0 | |||
With no related allowance recorded | 2,009 | |||
Related allowance | 0 | |||
Unpaid principal | 2,034 | |||
Average balance of impaired loans | 2,100 | |||
Interest income recognized | 60 | |||
Residential - First Lien [Member] | Legacy Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 6,483 | 6,483 | ||
With an allowance recorded | 0 | 0 | ||
With no related allowance recorded | 6,483 | 6,483 | ||
Related allowance | 0 | 0 | ||
Unpaid principal | 6,610 | 6,610 | ||
Average balance of impaired loans | 6,694 | 6,689 | ||
Interest income recognized | 32 | 51 | ||
Residential - First Lien [Member] | Acquired Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | [1] | 9,582 | 9,582 | |
Unpaid principal | 11,082 | 11,082 | ||
Average balance of impaired loans | 12,744 | 12,806 | ||
Interest income recognized | 174 | 217 | ||
Residential Junior Lien [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 396 | |||
With an allowance recorded | 391 | |||
With no related allowance recorded | 5 | |||
Related allowance | 29 | |||
Unpaid principal | 403 | |||
Average balance of impaired loans | 403 | |||
Interest income recognized | 12 | |||
Residential Junior Lien [Member] | Legacy Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 105 | 105 | ||
With an allowance recorded | 0 | 0 | ||
With no related allowance recorded | 105 | 105 | ||
Related allowance | 0 | 0 | ||
Unpaid principal | 105 | 105 | ||
Average balance of impaired loans | 106 | 107 | ||
Interest income recognized | 1 | 2 | ||
Residential Junior Lien [Member] | Acquired Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | [1] | 779 | 779 | |
Unpaid principal | 1,235 | 1,235 | ||
Average balance of impaired loans | 1,235 | 1,235 | ||
Interest income recognized | 11 | 21 | ||
Commercial Owner Occupied [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 508 | |||
With an allowance recorded | 0 | |||
With no related allowance recorded | 508 | |||
Related allowance | 0 | |||
Unpaid principal | 509 | |||
Average balance of impaired loans | 519 | |||
Interest income recognized | 0 | |||
Commercial Owner Occupied [Member] | Legacy Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 508 | 508 | ||
With an allowance recorded | 0 | 0 | ||
With no related allowance recorded | 508 | 508 | ||
Related allowance | 0 | 0 | ||
Unpaid principal | 508 | 508 | ||
Average balance of impaired loans | 508 | 508 | ||
Interest income recognized | 0 | 0 | ||
Commercial Owner Occupied [Member] | Acquired Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | [1] | 1,249 | 1,249 | |
Unpaid principal | 1,552 | 1,552 | ||
Average balance of impaired loans | 1,552 | 1,552 | ||
Interest income recognized | 0 | 0 | ||
Commercial Non Owner Occupied [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 5,867 | |||
With an allowance recorded | 2,230 | |||
With no related allowance recorded | 3,637 | |||
Related allowance | 11 | |||
Unpaid principal | 5,884 | |||
Average balance of impaired loans | 5,956 | |||
Interest income recognized | 132 | |||
Commercial Non Owner Occupied [Member] | Legacy Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 6,081 | 6,081 | ||
With an allowance recorded | 0 | 0 | ||
With no related allowance recorded | 6,081 | 6,081 | ||
Related allowance | 0 | 0 | ||
Unpaid principal | 6,837 | 6,837 | ||
Average balance of impaired loans | 6,878 | 8,872 | ||
Interest income recognized | 1 | 2 | ||
Commercial Non Owner Occupied [Member] | Acquired Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | [1] | 0 | 0 | |
Unpaid principal | 305 | 305 | ||
Average balance of impaired loans | 305 | 305 | ||
Interest income recognized | 0 | 0 | ||
Commercial Loan and Leases [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 3,724 | |||
With an allowance recorded | 2,883 | |||
With no related allowance recorded | 841 | |||
Related allowance | 668 | |||
Unpaid principal | 5,293 | |||
Average balance of impaired loans | 5,988 | |||
Interest income recognized | 150 | |||
Commercial Loan and Leases [Member] | Legacy Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 2,370 | 2,370 | ||
With an allowance recorded | 514 | 514 | ||
With no related allowance recorded | 1,856 | 1,856 | ||
Related allowance | 25 | 25 | ||
Unpaid principal | 3,660 | 3,660 | ||
Average balance of impaired loans | 4,759 | 3,182 | ||
Interest income recognized | 11 | 22 | ||
Commercial Loan and Leases [Member] | Acquired Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | [1] | 13 | 13 | |
Unpaid principal | 1,236 | 1,236 | ||
Average balance of impaired loans | 1,236 | 1,236 | ||
Interest income recognized | 0 | 0 | ||
Consumer Loan [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 0 | |||
With an allowance recorded | 0 | |||
With no related allowance recorded | 0 | |||
Related allowance | 0 | |||
Unpaid principal | 0 | |||
Average balance of impaired loans | 0 | |||
Interest income recognized | $ 0 | |||
Consumer Loan [Member] | Legacy Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | 0 | 0 | ||
With an allowance recorded | 0 | 0 | ||
With no related allowance recorded | 0 | 0 | ||
Related allowance | 0 | 0 | ||
Unpaid principal | 0 | 0 | ||
Average balance of impaired loans | 0 | 0 | ||
Interest income recognized | 0 | 0 | ||
Consumer Loan [Member] | Acquired Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded investment | [1] | 151 | 151 | |
Unpaid principal | 163 | 163 | ||
Average balance of impaired loans | 166 | 166 | ||
Interest income recognized | $ 2 | $ 2 | ||
[1] | Included are purchased credit impaired loans where the Company amortizes the accretable discount into interest income, however these loans do not accrue interest based on the terms of the loan. |
Credit Quality Assessment (De51
Credit Quality Assessment (Details 4) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018USD ($)Number | Dec. 31, 2017USD ($)Number | |
Trouble Debt Restructured Loans [Line Items] | ||
Number of Loans | Number | 6 | 7 |
Non-Accrual Status | $ 4,301 | $ 4,698 |
Number of Loans | Number | 3 | 3 |
Accrual Status | $ 600 | $ 620 |
Total TDRs | $ 4,901 | $ 5,318 |
Construction and Land [Member] | ||
Trouble Debt Restructured Loans [Line Items] | ||
Number of Loans | Number | 0 | 0 |
Non-Accrual Status | $ 0 | $ 0 |
Number of Loans | Number | 1 | 1 |
Accrual Status | $ 125 | $ 125 |
Total TDRs | $ 125 | $ 125 |
Residential Real Estate First Lien [Member] | ||
Trouble Debt Restructured Loans [Line Items] | ||
Number of Loans | Number | 3 | 2 |
Non-Accrual Status | $ 971 | $ 886 |
Number of Loans | Number | 1 | 1 |
Accrual Status | $ 283 | $ 287 |
Total TDRs | $ 1,254 | $ 1,173 |
Residential Real Estate Junior Lien [Member] | ||
Trouble Debt Restructured Loans [Line Items] | ||
Number of Loans | Number | 1 | |
Non-Accrual Status | $ 398 | |
Number of Loans | Number | 0 | |
Accrual Status | $ 0 | |
Total TDRs | $ 398 | |
Commercial Real Estate Non Owner Occupied [Member] | ||
Trouble Debt Restructured Loans [Line Items] | ||
Number of Loans | Number | 2 | 2 |
Non-Accrual Status | $ 2,816 | $ 2,815 |
Number of Loans | Number | 0 | 0 |
Accrual Status | $ 0 | $ 0 |
Total TDRs | $ 2,816 | $ 2,815 |
Commercial Loan and Leases [Member] | ||
Trouble Debt Restructured Loans [Line Items] | ||
Number of Loans | Number | 1 | 2 |
Non-Accrual Status | $ 514 | $ 599 |
Number of Loans | Number | 1 | 1 |
Accrual Status | $ 192 | $ 208 |
Total TDRs | $ 706 | $ 807 |
Credit Quality Assessment (De52
Credit Quality Assessment (Details 5) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | $ 4,901 | $ 5,318 |
Allowance for Losses on Finance Receivables [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 24 | 62 |
Construction and land Extension or other modification | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 125 | 125 |
Construction and land Extension or other modification | Allowance for Losses on Finance Receivables [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 0 | 0 |
Commercial Loans And Extension Or Other Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 192 | 293 |
Commercial Loans And Extension Or Other Modification [Member] | Allowance for Losses on Finance Receivables [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 0 | 0 |
Commercial RE - non-owner occupied Rate modification | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 2,816 | 2,815 |
Commercial RE - non-owner occupied Rate modification | Allowance for Losses on Finance Receivables [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 0 | 0 |
Commercial loans Forbearance | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 514 | 514 |
Commercial loans Forbearance | Allowance for Losses on Finance Receivables [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 24 | 32 |
Residential real estate - first lien Extension or other modification | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 1,254 | 1,173 |
Residential real estate - first lien Extension or other modification | Allowance for Losses on Finance Receivables [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 0 | 0 |
Residential real estate - Junior Lien Forbearance [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 398 | |
Residential real estate - Junior Lien Forbearance [Member] | Allowance for Losses on Finance Receivables [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 30 | |
Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 4,301 | 4,698 |
Nonperforming Financial Instruments [Member] | Construction and land Extension or other modification | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 0 | 0 |
Nonperforming Financial Instruments [Member] | Commercial Loans And Extension Or Other Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 0 | 85 |
Nonperforming Financial Instruments [Member] | Commercial RE - non-owner occupied Rate modification | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 2,816 | 2,815 |
Nonperforming Financial Instruments [Member] | Commercial loans Forbearance | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 514 | 514 |
Nonperforming Financial Instruments [Member] | Residential real estate - first lien Extension or other modification | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 971 | 886 |
Nonperforming Financial Instruments [Member] | Residential real estate - Junior Lien Forbearance [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 398 | |
Performing Financial Instruments [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 600 | 620 |
Performing Financial Instruments [Member] | Construction and land Extension or other modification | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 125 | 125 |
Performing Financial Instruments [Member] | Commercial Loans And Extension Or Other Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 192 | 208 |
Performing Financial Instruments [Member] | Commercial RE - non-owner occupied Rate modification | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 0 | 0 |
Performing Financial Instruments [Member] | Commercial loans Forbearance | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | 0 | 0 |
Performing Financial Instruments [Member] | Residential real estate - first lien Extension or other modification | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | $ 283 | 287 |
Performing Financial Instruments [Member] | Residential real estate - Junior Lien Forbearance [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total troubled debt restructured loans | $ 0 |
Credit Quality Assessment (De53
Credit Quality Assessment (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Credit Quality Indicator [Line Items] | ||||
Delinquent Loans, Outstanding Nonaccrual Status | $ 29,100 | $ 29,100 | $ 16,000 | |
Non-Accrual Delinquent Loans Outstanding, Percentage | 1.80% | 1.80% | 1.70% | |
Financing Receivable, Recorded Investment, Nonaccrual Loans | $ 28,100 | $ 28,100 | $ 12,600 | |
Impaired Financing Receivable Interest Income Non Accrual Method | 1,000 | $ 258 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 215 | |||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 340 | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 125 | |||
Real Estate Owned, Transfer to Real Estate Owned | 174 | 0 | ||
Gains (Losses) on Sales of Other Real Estate | 45 | 45 | 19 | |
Impaired Assets to be Disposed of by Sale Carrying Value of Asset | 593 | 593 | ||
Other Real Estate, Period Increase (Decrease) | $ 96 | |||
First Mariner Acquisition Bank [Member] | ||||
Credit Quality Indicator [Line Items] | ||||
Real Estate Owned, Transfer to Real Estate Owned | 3,000 | |||
Residentials First Lien [Member] | ||||
Credit Quality Indicator [Line Items] | ||||
Mortgage Loans in Process of Foreclosure, Amount | $ 1,400 | $ 1,400 |
Goodwill and Other Intangible54
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Goodwill | $ 71,278 | $ 603 |
Banking [Member] | ||
Goodwill | $ 71,278 | $ 603 |
Goodwill and Other Intangible55
Goodwill and Other Intangible Assets (Details 1) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | $ 13,116 | $ 1,743 |
Core Deposits [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 16,135 | 3,540 |
Accumulated Amortization | 3,019 | 1,797 |
Net Carrying Amount | $ 13,116 | $ 1,743 |
Weighted Average Remaining Life (in Years) | 5 years 3 months 18 days | 5 years 7 months 6 days |
Goodwill and Other Intangible56
Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Finite-Lived Intangible Assets [Line Items] | ||
2,018 | $ 1,258 | |
2,019 | 3,012 | |
2,020 | 2,674 | |
2,021 | 2,326 | |
2,022 | 1,915 | |
Thereafter | 1,931 | |
Total amortizing intangible assets | $ 13,116 | $ 1,743 |
Goodwill and Other Intangible57
Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Goodwill | $ 71,278 | $ 603 |
Goodwill, Purchase Accounting Adjustments | $ 723 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Deposits [Line Items] | ||
Noninterest-bearing demand | $ 469,832 | $ 218,139 |
Interest-bearing checking | 156,680 | 71,642 |
Money market accounts | 383,816 | 252,453 |
Savings | 146,025 | 52,078 |
Certificates of deposit $250,000 and over | 49,120 | 9,950 |
Certificates of deposit under $250,000 | 360,171 | 259,646 |
Total deposits | $ 1,565,644 | $ 863,908 |
Percentage of Noninterest-bearing demand | 30.00% | 26.00% |
Percentage of Interest-bearing checking | 10.00% | 8.00% |
Percentage of Money market accounts | 25.00% | 29.00% |
Percentage of Savings | 9.00% | 6.00% |
Percentage of Certificates of deposit $250,000 and over | 3.00% | 1.00% |
Percentage of Certificates of deposit under $250,000 | 23.00% | 30.00% |
Percentage of Total deposits | 100.00% | 100.00% |
Stock Options and Stock Award59
Stock Options and Stock Awards (Details) - Employee Stock Option [Member] - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Shares, Beginning Balance | 30,991 | 123,593 |
Shares, Granted | 0 | 0 |
Shares, Exercised | (3,284) | (27,113) |
Shares, Forfeited | (3,100) | (65,489) |
Shares, Ending Balance | 24,607 | 30,991 |
Shares, Exercisable at period end | 24,607 | 30,991 |
Weighted Average Exercise Price, Beginning Balance | $ 9.69 | $ 12.36 |
Weighted Average Exercise Price, Granted | 0 | 0 |
Weighted Average Exercise Price, Exercised | 10.77 | 11.67 |
Weighted Average Exercise Price, Forfeited | 11 | 13.92 |
Weighted Average Exercise Price, Ending Balance | 9.38 | 9.69 |
Weighted Average Exercise Price, Exercisable at period end | 9.38 | 9.69 |
Weighted average fair value of options granted during the year | $ 0 | $ 0 |
Stock Options and Stock Award60
Stock Options and Stock Awards (Details 1) - Restricted Stock [Member] - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Shares, Beginning Balance | 52,155 | 65,491 |
Shares, Granted | 20,732 | 18,500 |
Shares, Vested | (37,062) | (31,836) |
Shares, Forfeited | (3,332) | 0 |
Shares, Ending Balance | 32,493 | 52,155 |
Weighted Average Grant Date Fair Value, Beginning Balance | $ 15.09 | $ 13.23 |
Weighted Average Grant Date Fair Value, Granted | 19.90 | 17.41 |
Weighted Average Grant Date Fair Value, Vested | 17.14 | 12.60 |
Weighted Average Grant Date Fair Value, Forfeited | 13.81 | 0 |
Weighted Average Grant Date Fair Value, Ending Balance | $ 15.95 | $ 15.09 |
Stock Options and Stock Award61
Stock Options and Stock Awards (Details 2) - Restricted Stock Units (RSUs) [Member] $ in Thousands | Jun. 30, 2018USD ($) |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 284 |
2018 [Member] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | 103 |
2019 [Member] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | 129 |
2020 [Member] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 52 |
Stock Options and Stock Award62
Stock Options and Stock Awards (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Director [Member] | ||||
Allocated Share-based Compensation Expense | $ 0 | $ 66 | $ 101 | $ 110 |
Restricted Stock Units (RSUs) [Member] | ||||
Allocated Share-based Compensation Expense | $ 75 | $ 149 | $ 572 | $ 236 |
Stock Options and Stock Award63
Stock Options and Stock Awards (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable Fair Market Value | $ 18 | $ 22 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 212 | $ 382 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 20,732 | ||
Share-based Goods and Nonemployee Services Transaction, Shares Approved for Issuance | 4,800 | 6,604 | |
Proceeds from Stock Options Exercised | $ 35 | $ 234 | |
Restricted Stock Units (RSUs) [Member] | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 284 | ||
vest if performance achieved [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 18,500 |
Benefit Plans (Details Textual)
Benefit Plans (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent | 15.00% | |
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Amount | $ 587 | $ 381 |
Supplemental Executive Retirement Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Benefit Description | Under the defined benefit SERP, Ms. Scully will receive $150,000 each year for 15 years after attainment of the Normal Retirement Age (as defined in the SERP). | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 139 | $ 141 |
Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Contribution Plan, Employer Matching Contribution, Percent | 4.00% |
Income (Loss) per Common Shar65
Income (Loss) per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Earnings Per Share Basic And Diluted [Line Items] | ||||
Net (loss) income available to common stockholders (numerator) | $ (2,277) | $ 2,038 | $ (7,953) | $ 3,604 |
BASIC | ||||
Basic average common shares outstanding (denominator) | 19,002,851 | 9,779,772 | 16,058,092 | 9,295,777 |
Basic (loss) income per common share | $ (0.12) | $ 0.21 | $ (0.50) | $ 0.39 |
DILUTED | ||||
Average common shares outstanding | 19,002,851 | 9,779,772 | 16,058,092 | 9,295,777 |
Dilutive effect of common stock equivalents | 0 | 42,393 | 0 | 39,373 |
Diluted average common shares outstanding (denominator) | 19,002,851 | 9,822,165 | 16,058,092 | 9,335,150 |
Diluted (loss) income per common share | $ (0.12) | $ 0.21 | $ (0.50) | $ 0.39 |
Because the Company reported a loss for both 2018 periods common stock equivalents were excluded from the calculation of diluted average shares outstanding, as their inclusion would have resulted in a lower diluted loss per share | 27,245 | 0 | 25,326 | 0 |
Risk-Based Capital (Details)
Risk-Based Capital (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jan. 31, 2015 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 5.00% | ||
Tier 1 capital (to risk-weighted assets) For capital adequacy purposes ratio | 4.50% | ||
Tier 1 capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 6.50% | ||
Tier 1 capital (to average assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 8.00% | ||
Howard Bank [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total capital (to risk-weighted assets) Actual amount | $ 185,421 | $ 125,019 | |
Total capital (to risk-weighted assets) Actual ratio | 10.78% | 12.39% | |
Total capital (to risk-weighted assets) For capital adequacy purposes amount | $ 137,624 | $ 80,720 | |
Total capital (to risk-weighted assets) For capital adequacy purposes ratio | 8.00% | 8.00% | |
Total capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions amount | $ 172,030 | $ 100,900 | |
Total capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 10.00% | 10.00% | |
Common equity tier 1 capital (to risk-weighted assets) Actual amount | $ 178,802 | $ 118,860 | |
Common equity tier 1 capital (to risk-weighted assets) Actual ratio | 10.39% | 11.78% | |
Common equity tier 1 capital (to risk-weighted assets) For capital adequacy purposes amount | $ 77,414 | $ 45,405 | |
Common equity tier 1 capital (to risk-weighted assets) For capital adequacy purposes ratio | 4.50% | 4.50% | |
Common equity tier 1 capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions amount | $ 111,820 | $ 65,585 | |
Common equity tier 1 capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 6.50% | 6.50% | |
Tier 1 capital (to risk-weighted assets) Actual amount | $ 178,802 | $ 118,860 | |
Tier 1 capital (to risk-weighted assets) Actual ratio | 10.39% | 11.78% | |
Tier 1 capital (to risk-weighted assets) For capital adequacy purposes amount | $ 103,218 | $ 60,540 | |
Tier 1 capital (to risk-weighted assets) For capital adequacy purposes ratio | 6.00% | 6.00% | |
Tier 1 capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions amount | $ 137,624 | $ 80,720 | |
Tier 1 capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 8.00% | 8.00% | |
Tier 1 capital (to average assets) Actual amount | $ 178,802 | $ 118,860 | |
Tier 1 capital (to average assets) Actual ratio | 8.85% | 10.70% | |
Tier 1 capital (to average assets) For capital adequacy purposes amount | $ 80,791 | $ 44,438 | |
Tier 1 capital (to average assets) For capital adequacy purposes ratio | 4.00% | 4.00% | |
Tier 1 capital (to average assets) To be well capitalized under the FDICIA prompt corrective action provisions amount | $ 100,989 | $ 55,547 | |
Tier 1 capital (to average assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 5.00% | 5.00% | |
Howard Bancorp [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total capital (to risk-weighted assets) Actual amount | $ 187,072 | $ 139,673 | |
Total capital (to risk-weighted assets) Actual ratio | 10.83% | 13.72% | |
Total capital (to risk-weighted assets) For capital adequacy purposes amount | $ 138,245 | $ 81,456 | |
Total capital (to risk-weighted assets) For capital adequacy purposes ratio | 8.00% | 8.00% | |
Common equity tier 1 capital (to risk-weighted assets) Actual amount | $ 176,878 | $ 129,979 | |
Common equity tier 1 capital (to risk-weighted assets) Actual ratio | 10.24% | 12.77% | |
Common equity tier 1 capital (to risk-weighted assets) For capital adequacy purposes amount | $ 77,763 | $ 45,819 | |
Common equity tier 1 capital (to risk-weighted assets) For capital adequacy purposes ratio | 4.50% | 4.50% | |
Tier 1 capital (to risk-weighted assets) Actual amount | $ 176,878 | $ 129,979 | |
Tier 1 capital (to risk-weighted assets) Actual ratio | 10.24% | 12.77% | |
Tier 1 capital (to risk-weighted assets) For capital adequacy purposes amount | $ 103,684 | $ 61,092 | |
Tier 1 capital (to risk-weighted assets) For capital adequacy purposes ratio | 6.00% | 6.00% | |
Tier 1 capital (to average assets) Actual amount | $ 176,878 | $ 129,979 | |
Tier 1 capital (to average assets) Actual ratio | 8.76% | 11.70% | |
Tier 1 capital (to average assets) For capital adequacy purposes amount | $ 80,724 | $ 44,439 | |
Tier 1 capital (to average assets) For capital adequacy purposes ratio | 4.00% | 4.00% |
Risk-Based Capital (Details Tex
Risk-Based Capital (Details Textual) | 1 Months Ended | 6 Months Ended |
Jan. 31, 2015 | Jun. 30, 2018 | |
Schedule of regulatory matters [Line Items] | ||
Derivative Conversion Factors | One of four credit conversion factors (0%, 20%, 50% and 100%) is assigned to loan commitments based on the likelihood of the off-balance sheet item becoming an asset. | |
Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets | 2.50% | |
Well Capitalized Cet 1 Ratio | 10.00% | |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 8.00% | |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | |
Capital Required to be Well Capitalized to Risk Weighted Assets | 5.00% | |
Description of Regulatory Requirements, Capital Adequacy Purposes | the minimum Tier 1 capital ratio (from 4% to 6% of risk-weighted assets), imposed a minimum leverage ratio of 4.0%, and changed the risk-weight of certain assets to better reflect credit risk and other risk exposures. These include, among other things, a 150% risk weight for certain high volatility commercial real estate acquisition, development and construction loans and for non-residential mortgage loans that are 90 days past due or otherwise in non-accrual status, and a 20% credit conversion factor for the unused portion of a commitment with an original maturity of one year or less that is not unconditionally cancellable. | The final rule, which became effective on January 1, 2015, applies to all depository institutions, top-tier bank holding companies with total consolidated assets of $1 billion or more and top-tier savings and loan holding companies. |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | $ 127,530 | $ 74,256 | |
Loans held for sale | 55,956 | 42,153 | |
Loans held for investment | 1,345 | 1,509 | |
U.S. Government agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 74,584 | 67,740 | |
Mortgage backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 48,325 | 2,479 | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | 55,956 | 42,153 | |
Loans held for investment | 1,345 | 1,509 | |
Rate lock commitments | 244 | 451 | |
Fair Value, Measurements, Recurring [Member] | U.S. Government agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 74,584 | 67,740 | |
Fair Value, Measurements, Recurring [Member] | U.S. Government treasuries [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 1,496 | 1,494 | |
Fair Value, Measurements, Recurring [Member] | Mortgage backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 48,325 | 2,479 | |
Fair Value, Measurements, Recurring [Member] | Other Investments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 3,126 | 2,543 | |
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for investment | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | 0 | 0 | |
Loans held for investment | 0 | 0 | |
Rate lock commitments | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government treasuries [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Other Investments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for investment | 1,345 | 1,509 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | 55,956 | 42,153 | |
Loans held for investment | 1,345 | 1,509 | |
Rate lock commitments | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 74,584 | 67,740 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government treasuries [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 1,496 | 1,494 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 48,325 | 2,479 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Other Investments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 3,126 | 2,464 | |
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for investment | 0 | 0 | |
Rate lock commitments | 244 | 530 | $ 528 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | 0 | 0 | |
Loans held for investment | 0 | 0 | |
Rate lock commitments | 244 | 451 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government treasuries [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other Investments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | $ 0 | $ 79 |
Fair Value (Details 1)
Fair Value (Details 1) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Balance, beginning of period | $ 530 | $ 528 |
Privately held equity investment | (42) | 79 |
Net (losses) gains included in realized and unrealized gains on mortgage banking activity in noninterest income | (244) | (77) |
Balance, end of period | $ 244 | $ 530 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Loans held for investment Fair value | $ 1,345 | $ 1,509 |
Loans held for sale [Member] | ||
Carrying Fair Value Amount, Loans held for sale | 55,956 | 42,153 |
Aggregate Unpaid Principal, Loans held for sale | 54,733 | 40,990 |
Difference,Loans held for sale | 1,223 | 1,163 |
Loans held for investment [Member] | ||
Loans held for investment Fair value | 1,345 | 1,509 |
Aggregate Unpaid Principal Loans held for Investment | 1,374 | 1,476 |
Difference, Loans held for investment | $ (29) | $ 33 |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other real estate owned | $ 4,115 | $ 1,549 | |
Impaired loans | [1] | 1,578,707 | 925,510 |
Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other real estate owned | 7,500 | ||
Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other real estate owned | 4,115 | 1,549 | |
Fair Value, Measurements, Nonrecurring [Member] | Construction and Land [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 1,409 | 559 | |
Fair Value, Measurements, Nonrecurring [Member] | Residential - First Lien [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 16,065 | 2,009 | |
Fair Value, Measurements, Nonrecurring [Member] | Residential Junior Lien [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 884 | 367 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Owner Occupied [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 1,757 | 508 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Non Owner Occupied [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 6,081 | 5,856 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan and Leases [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 2,358 | 3,056 | |
Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 151 | 0 | |
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | [1] | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other real estate owned | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction and Land [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential - First Lien [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Junior Lien [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Owner Occupied [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Non Owner Occupied [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan and Leases [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | [1] | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other real estate owned | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction and Land [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential - First Lien [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Junior Lien [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Owner Occupied [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Non Owner Occupied [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan and Leases [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | [1] | 1,578,707 | 925,510 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other real estate owned | 4,115 | 1,549 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction and Land [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 1,409 | 559 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential - First Lien [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 16,065 | 2,009 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Junior Lien [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 884 | 367 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Owner Occupied [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 1,757 | 508 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Non Owner Occupied [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 6,081 | 5,856 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan and Leases [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 2,358 | 3,056 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | $ 151 | $ 0 | |
[1] | Carrying amount is net of unearned income and allowance for loan and lease losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans as of June 30, 2018 was measured using an exit price notion. The fair value of loans as of December 31, 2017 was measured using an entry price notion. |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Financial Assets | |||
Available for sale securities, Carrying Value | $ 127,530 | $ 74,256 | |
Held to maturity securities, Fair Value | 9,417 | 9,421 | |
Held to maturity securities, Carrying Value | 9,250 | 9,250 | |
Nonmarketable equity securities, Carrying Value | 14,485 | 6,492 | |
Loans held for sale, Carrying Value | 55,956 | 42,153 | |
Loans held for investment, Fair Value | 1,345 | 1,509 | |
Loans held for investment, Carrying Value | 1,345 | 1,509 | |
Rate lock commitments, Carrying Value | 244 | 451 | |
Loans and leases, Carrying Value | [1] | 1,602,014 | 928,940 |
Available for sale securities, Fair value | 127,530 | 74,256 | |
Nonmarketable equity securities, Fair value | 14,485 | 6,492 | |
Loans held for sale, Fair value | 55,956 | 42,153 | |
Rate lock commitments, Fair Value | 244 | 451 | |
Loans and leases, Fair value | [1] | 1,578,707 | 925,510 |
Financial Liabilities | |||
Deposits, Carrying Value | 1,565,644 | 863,908 | |
Short-term borrowings, Carrying Value | 189,112 | 130,385 | |
Long-term borrowings, Carrying Value | 127,575 | 18,535 | |
Deposits, Fair value | 1,566,981 | 865,182 | |
Short-term borrowings, Fair value | 189,112 | 130,385 | |
Long-term borrowings, Fair value | 127,744 | 18,538 | |
Fair Value, Inputs, Level 1 [Member] | |||
Financial Assets | |||
Held to maturity securities, Fair Value | 0 | 0 | |
Loans held for investment, Fair Value | 0 | 0 | |
Available for sale securities, Fair value | 0 | 0 | |
Nonmarketable equity securities, Fair value | 0 | 0 | |
Loans held for sale, Fair value | 0 | 0 | |
Rate lock commitments, Fair Value | 0 | 0 | |
Loans and leases, Fair value | [1] | 0 | 0 |
Financial Liabilities | |||
Deposits, Fair value | 0 | 0 | |
Short-term borrowings, Fair value | 0 | 0 | |
Long-term borrowings, Fair value | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Financial Assets | |||
Held to maturity securities, Fair Value | 0 | 0 | |
Loans held for investment, Fair Value | 1,345 | 1,509 | |
Available for sale securities, Fair value | 127,530 | 74,177 | |
Nonmarketable equity securities, Fair value | 14,485 | 6,492 | |
Loans held for sale, Fair value | 55,956 | 42,153 | |
Rate lock commitments, Fair Value | 0 | 0 | |
Loans and leases, Fair value | [1] | 0 | 0 |
Financial Liabilities | |||
Deposits, Fair value | 1,566,981 | 865,182 | |
Short-term borrowings, Fair value | 189,112 | 130,385 | |
Long-term borrowings, Fair value | 127,744 | 18,538 | |
Fair Value, Inputs, Level 3 [Member] | |||
Financial Assets | |||
Held to maturity securities, Fair Value | 9,417 | 9,421 | |
Loans held for investment, Fair Value | 0 | 0 | |
Available for sale securities, Fair value | 0 | 79 | |
Nonmarketable equity securities, Fair value | 0 | 0 | |
Loans held for sale, Fair value | 0 | 0 | |
Rate lock commitments, Fair Value | 244 | 451 | |
Loans and leases, Fair value | [1] | 1,578,707 | 925,510 |
Financial Liabilities | |||
Deposits, Fair value | 0 | 0 | |
Short-term borrowings, Fair value | 0 | 0 | |
Long-term borrowings, Fair value | $ 0 | $ 0 | |
[1] | Carrying amount is net of unearned income and allowance for loan and lease losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans as of June 30, 2018 was measured using an exit price notion. The fair value of loans as of December 31, 2017 was measured using an entry price notion. |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Real Estate | $ 4,115 | $ 1,549 |
Impaired Financing Receivable, Related Allowance | 25 | $ 910 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Real Estate | 7,500 | |
Other Real Estate, Valuation Adjustments | $ 3,400 | |
Impairment Calculation Method, Description | Various techniques are used to valuate OREO and impaired loans.  All loans for which the underlying collateral is real estate, either construction, land, commercial, or residential, an independent appraisal is used to identify the value of the collateral.  The approaches within the appraisal report include sales comparison, income, and replacement cost analysis.  The resulting value will be adjusted by a selling cost of 9.5% and the residual value will be used to determine if there is an impairment. Commercial loans and leases and consumer loans utilize a liquidation approach to the impairment analysis. | |
Interest Rate Lock Commitments [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Pull Through Rate | 70.00% | |
Interest Rate Lock Commitments [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Pull Through Rate | 80.00% |
Revenue Recognition (Details)
Revenue Recognition (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 590 | $ 246 | $ 916 | $ 454 |
Other | 2,059 | 1,412 | 3,925 | 2,673 |
Noninterest Income | 5,617 | 5,292 | 10,321 | 9,751 |
Accounting Standards Update 2014-09 [Member] | ||||
Noninterest Income | 5,617 | 5,292 | 10,321 | 9,751 |
Noninterest income in scope of Topic 606 | Accounting Standards Update 2014-09 [Member] | ||||
Other | 20 | 14 | 39 | 32 |
Noninterest Income | 861 | 343 | 1,380 | 622 |
Noninterest income out of scope of Topic 606 | Accounting Standards Update 2014-09 [Member] | ||||
Noninterest Income | 4,756 | 4,949 | 8,941 | 9,129 |
Service charges on deposit accounts | Accounting Standards Update 2014-09 [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 152 | 83 | 247 | 136 |
Fees and other services charges | Accounting Standards Update 2014-09 [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 689 | $ 246 | $ 1,094 | $ 454 |