Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 28, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | Howard Bancorp Inc | ||
Entity Central Index Key | 0001390162 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Public Float | $ 324.2 | ||
Trading Symbol | HBMD | ||
Entity Common Stock, Shares Outstanding | 19,056,736 | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 100,976 | $ 28,856 |
Federal funds sold | 522 | 116 |
Total cash and cash equivalents | 101,498 | 28,972 |
Securities available for sale, at fair value | 223,858 | 74,256 |
Securities held to maturity, at amortized cost | 9,250 | 9,250 |
Nonmarketable equity securities | 11,786 | 6,492 |
Loans held for sale, at fair value | 21,261 | 42,153 |
Loans and leases, net of unearned income | 1,649,751 | 936,608 |
Allowance for credit losses | (9,873) | (6,159) |
Net loans and leases | 1,639,878 | 930,449 |
Bank premises and equipment, net | 45,137 | 19,189 |
Goodwill | 70,697 | 603 |
Core deposit intangible | 11,482 | 1,743 |
Bank owned life insurance | 74,153 | 28,631 |
Other real estate owned | 4,392 | 1,549 |
Deferred tax assets, net | 35,285 | 813 |
Interest receivable and other assets | 17,837 | 5,850 |
Total assets | 2,266,514 | 1,149,950 |
LIABILITIES | ||
Noninterest-bearing deposits | 429,200 | 218,139 |
Interest-bearing deposits | 1,256,606 | 645,769 |
Total deposits | 1,685,806 | 863,908 |
Short-term borrowings | 134,576 | 130,385 |
Long-term borrowings | 142,077 | 18,535 |
Accrued expenses and other liabilities | 9,372 | 4,869 |
Total liabilities | 1,971,831 | 1,017,697 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' EQUITY | ||
Common stock - par value of $0.01 authorized 20,000,000 shares; issued and outstanding 19,039,347 shares at December 31, 2018 and 9,820,592 at December 31, 2017 | 190 | 98 |
Capital surplus | 275,843 | 110,387 |
Retained earnings | 18,277 | 22,105 |
Accumulated other comprehensive (loss) income | 373 | (337) |
Total stockholders' equity | 294,683 | 132,253 |
Total liabilities and stockholders' equity | $ 2,266,514 | $ 1,149,950 |
Consolidated Balance Sheets _Pa
Consolidated Balance Sheets [Parenthetical] - $ / shares | Dec. 31, 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 | 19,039,347 | 9,820,592 |
Common stock, shares outstanding | 19,039,347 | 9,820,592 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
INTEREST INCOME | |||
Interest and fees on loans and leases | $ 75,009 | $ 41,213 | $ 37,865 |
Interest and dividends on securities | 4,297 | 1,416 | 691 |
Other interest income | 1,083 | 397 | 185 |
Total interest income | 80,389 | 43,026 | 38,741 |
INTEREST EXPENSE | |||
Deposits | 8,540 | 3,997 | 3,470 |
Short-term borrowings | 2,327 | 876 | 595 |
Long-term borrowings | 2,904 | 294 | 497 |
Total interest expense | 13,771 | 5,167 | 4,562 |
NET INTEREST INCOME | 66,618 | 37,859 | 34,179 |
Provision for credit losses | 6,091 | 1,831 | 2,037 |
Net interest income after provision for credit losses | 60,527 | 36,028 | 32,142 |
NONINTEREST INCOME | |||
Service charges on deposit accounts | 2,216 | 923 | 694 |
Realized and unrealized gains on mortgage banking activity | 5,245 | 11,035 | 8,098 |
(Loss) gain on the sale of securities | (364) | 0 | 96 |
Gain on the sale of portfolio loans | 0 | 86 | 532 |
Loss on the disposal of bank premises & equipment | (345) | (13) | (70) |
Income from bank owned life insurance | 1,614 | 760 | 623 |
Loan fee income | 5,624 | 5,722 | 3,903 |
Other operating income | 3,870 | 1,011 | 920 |
Total noninterest income | 17,860 | 19,524 | 14,796 |
NONINTEREST EXPENSE | |||
Compensation and benefits | 33,674 | 23,573 | 19,034 |
Occupancy and equipment | 10,650 | 4,154 | 4,622 |
Amortization of core deposit intangible | 2,856 | 505 | 655 |
Marketing and business development | 3,338 | 4,231 | 3,375 |
Professional fees | 2,471 | 1,968 | 2,111 |
Data processing fees | 4,037 | 2,038 | 1,723 |
Merger and restructuring expense | 15,549 | 567 | 0 |
FDIC assessment | 1,268 | 650 | 780 |
Other real estate owned | 500 | 655 | 97 |
Loan production expense | 3,523 | 3,743 | 3,016 |
Other operating expense | 5,246 | 3,116 | 3,286 |
Total noninterest expense | 83,112 | 45,200 | 38,699 |
(LOSS) INCOME BEFORE INCOME TAXES | (4,725) | 10,352 | 8,239 |
Income tax (benefit) expense | (897) | 3,152 | 2,936 |
NET (LOSS) INCOME | (3,828) | 7,200 | 5,303 |
Preferred stock dividends | 0 | 0 | 166 |
Net income available to common stockholders | $ (3,828) | $ 7,200 | $ 5,137 |
NET (LOSS) INCOME PER COMMON SHARE | |||
Basic (in dollars per share) | $ (0.22) | $ 0.75 | $ 0.74 |
Diluted (in dollars per share) | $ (0.22) | $ 0.75 | $ 0.73 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net (Loss) Income | $ (3,828) | $ 7,200 | $ 5,303 |
Other comprehensive (loss) income Investments available-for-sale: | |||
Reclassification adjustment for loss (gain) | 364 | 0 | (96) |
Related income tax | (100) | 0 | 38 |
Unrealized holding (losses) gains | 602 | (217) | (90) |
Related income tax benefit (expense) | (156) | 30 | 30 |
Comprehensive (loss) income | $ (3,118) | $ 7,013 | $ 5,185 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Capital surplus [Member] | Retained Earnings [Member] | Accumulated other comprehensive (loss) income |
Balance at Dec. 31, 2015 | $ 92,899 | $ 12,562 | $ 70 | $ 70,587 | $ 9,712 | $ (32) |
Balance (in shares) at Dec. 31, 2015 | 6,962,139 | |||||
Net (loss) income | 5,303 | 0 | $ 0 | 0 | 5,303 | 0 |
Net unrealized gain (loss) on securities | (118) | 0 | 0 | 0 | 0 | (118) |
Dividends paid on preferred stock | (166) | 0 | 0 | 0 | (166) | 0 |
Redemption of preferred stock | (12,562) | (12,562) | 0 | 0 | 0 | 0 |
Director stock awards | 160 | 0 | $ 0 | 160 | 0 | 0 |
Director stock awards (in shares) | 7,241 | |||||
Exercise of options | 35 | 0 | $ 0 | 35 | 0 | 0 |
Exercise of options (in shares) | 3,020 | |||||
Stock-based compensation | 239 | 0 | $ 0 | 239 | 0 | 0 |
Stock-based compensation (in shares) | 18,672 | |||||
Balance at Dec. 31, 2016 | 85,790 | 0 | $ 70 | 71,021 | 14,849 | (150) |
Balance (in shares) at Dec. 31, 2016 | 6,991,072 | |||||
Net (loss) income | 7,200 | 0 | $ 0 | 0 | 7,200 | 0 |
Net unrealized gain (loss) on securities | (187) | 0 | 0 | 0 | 0 | (187) |
Reclassification of tax effects resulting from the Tax Cuts and Jobs Act | 56 | 56 | ||||
Common stock offering | 38,383 | 0 | $ 28 | 38,355 | 0 | 0 |
Common stock offering (in shares) | 2,760,000 | |||||
Director stock awards | 205 | 0 | $ 0 | 205 | 0 | 0 |
Director stock awards (in shares) | 11,404 | |||||
Exercise of options | 316 | 0 | $ 0 | 316 | 0 | 0 |
Exercise of options (in shares) | 27,113 | |||||
Stock-based compensation | 490 | 0 | $ 0 | 490 | 0 | 0 |
Stock-based compensation (in shares) | 31,003 | |||||
Balance at Dec. 31, 2017 | 132,253 | 0 | $ 98 | 110,387 | 22,105 | (337) |
Balance (in shares) at Dec. 31, 2017 | 9,820,592 | |||||
Net (loss) income | (3,828) | 0 | $ 0 | 0 | (3,828) | 0 |
Net unrealized gain (loss) on securities | 710 | 0 | 0 | 0 | 0 | 710 |
Acquisition of First Mariner Bank value | 164,578 | 0 | $ 92 | 164,486 | 0 | 0 |
Acquisition of First Mariner Bank (in shares) | 9,143,222 | |||||
Director stock awards | 217 | 0 | $ 0 | 217 | 0 | 0 |
Director stock awards (in shares) | 11,868 | |||||
Exercise of options | 97 | 0 | $ 0 | 97 | 0 | 0 |
Exercise of options (in shares) | 9,123 | |||||
Stock-based compensation | 656 | 0 | $ 0 | 656 | 0 | 0 |
Stock-based compensation (in shares) | 54,542 | |||||
Balance at Dec. 31, 2018 | $ 294,683 | $ 0 | $ 190 | $ 275,843 | $ 18,277 | $ 373 |
Balance (in shares) at Dec. 31, 2018 | 19,039,347 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net (loss) income | $ (3,828) | $ 7,200 | $ 5,303 |
Adjustments to reconcile net (loss) income to net cash from operating activities: | |||
Provision for credit losses | 6,091 | 1,831 | 2,037 |
Deferred income tax (benefit) | (3,468) | (1,132) | (1,229) |
Provision for other real estate owned | 352 | 581 | 83 |
Depreciation and amortization | 2,188 | 1,287 | 1,241 |
Stock-based compensation | 873 | 695 | 399 |
Net (accretion) amortization of investment securities | (1) | 81 | (3) |
Net accretion of discount on purchased loans | (2,313) | (575) | (714) |
Loss (gain) on sales of securities | 364 | 0 | (96) |
Loss on the sale of property | 345 | 13 | 70 |
Net amortization of intangible asset | 2,856 | 505 | 655 |
Loans originated for sale | (586,385) | (673,448) | (599,299) |
Proceeds from sale of loans originated for sale | 640,710 | 693,384 | 606,020 |
Realized and unrealized gains on mortgage banking activity | (5,245) | (11,035) | (8,098) |
(Gain) loss on sales of other real estate owned, net | (64) | (12) | 14 |
Gain on sale of portfolio loans, net | 0 | (86) | (532) |
Cash surrender value of BOLI | (1,614) | (760) | (623) |
Increase in interest receivable | (452) | (672) | (649) |
Increase in interest payable | 373 | 124 | 5 |
Decrease (increase) in other assets | 5,493 | (1,372) | (817) |
(Decrease) increase in other liabilities | (1,464) | 293 | (1,460) |
Net cash provided by operating activities | 54,811 | 16,902 | 2,307 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchase of interest bearing deposits with banks | 0 | 0 | (19,513) |
Proceeds from maturities of interest bearing deposits with banks | 0 | 19,513 | 0 |
Purchases of investment securities available-for-sale | (193,805) | (59,347) | (84,969) |
Purchases of investment securities held-to-maturity | 0 | (3,000) | (3,250) |
Proceeds from sale/maturities of investment securities available-for-sale | 169,291 | 23,520 | 95,731 |
Net increase in loans and leases outstanding | (49,995) | (120,321) | (68,273) |
Purchase of bank owned life insurance | 0 | (6,500) | (2,200) |
Proceeds from the sale of other real estate owned | 1,088 | 232 | 178 |
Proceeds from the sale of portfolio loans | 0 | 3,798 | 4,263 |
Purchase of premises and equipment | (1,943) | (409) | (627) |
Proceeds from the sale of premises and equipment | 5,161 | 0 | 0 |
Cash acquired in acquisition | 38,889 | 0 | 0 |
Net cash used in investing activities | (31,314) | (142,514) | (78,660) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Net increase in deposits | 115,463 | 55,174 | 61,327 |
Net (decrease) increase in short-term borrowings | (180,829) | 23,329 | 37,935 |
Proceeds from issuance of long-term debt | 123,543 | 15,016 | 2,810 |
Repayment of long-term debt | 0 | (17,000) | (12,000) |
Net proceeds from issuance of common stock, net of cost | 97 | 38,699 | 35 |
Cash consideration paid in acquisition | (9,245) | 0 | 0 |
Redemption of preferred stock | 0 | 0 | (12,562) |
Cash dividends on preferred stock | 0 | 0 | (166) |
Net cash provided by financing activities | 49,029 | 115,218 | 77,379 |
Net increase (decrease) in cash and cash equivalents | 72,526 | (10,394) | 1,026 |
Cash and cash equivalents at beginning of period | 28,972 | 39,366 | 38,340 |
Cash and cash equivalents at end of period | 101,498 | 28,972 | 39,366 |
SUPPLEMENTAL INFORMATION | |||
Cash payments for interest | 13,123 | 5,044 | 4,557 |
Cash payments for income taxes | 0 | 3,440 | 3,145 |
Transferred from loans to other real estate owned | 917 | 0 | 256 |
Assets acquired in business combination (net of cash received) | 971,431 | 0 | 0 |
Liabilities assumed in business combination | $ 897,569 | $ 0 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 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” or the “Company”) acquired all of the stock and became the holding company of Howard Bank (the “Bank”) pursuant to the Plan of Reorganization approved by the stockholders 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 stockholders of the Bank became the stockholders of Bancorp. The Bank has nine subsidiaries, six of which are intended to hold foreclosed real estate (three of which currently hold properties) and two of the others own and manages real estate that is used as office and branch locations. The accompanying consolidated financial statements of Bancorp and its wholly-owned subsidiary 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 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”). On May 6, 2016, Bancorp redeemed all of the 12,562 shares of the Series AA Preferred Stock that it had previously issued to the U.S. Department of the Treasury (the “Treasury”) under its Small Business Lending Fund (“SBLF”) program. $12.7 The redemption of the Series AA Preferred Stock was funded with variable rate debt with Raymond James Bank, N.A. This debt matured one year from commencement, with interest only payments based upon 30 day plus 300 basis points. On February 1, 2017, Bancorp closed an underwritten public offering, the exercise in full by the underwriters to purchase an additional 360,000 shares, at the public offering price of $15.00 per share. The amount of gross proceeds raised in this offering was approximately $41.4 million, after underwriting discounts and offering was $38.4 million. On March 1, 2018, Bancorp completed its previously announced merger (the “First Mariner merger”) with First Mariner Bank, a Maryland chartered trust company (“First Mariner”), pursuant to the Agreement and Plan of Reorganization dated as August 14, 2017, and as amended by Amendment No. 1 on November 8, 217, by and among Bancorp, the Bank and First Mariner (as amended, the “First Mariner Merger Agreement”). At the effective time of the First Mariner merger, First Mariner merged with and into the Bank, with the Bank continuing as the surviving bank of the First Mariner merger and a wholly owned subsidiary of the Company. At the effective time of the Merger, 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, provided that cash was paid in lieu of any fractional shares. The aggregate merger consideration of $173.8 million included $9.2 million of cash and 9,143,222 shares of our common stock, which was valued at approximately $164.6 million based on Bancorp’s closing stock price of $18.00 on February 28, 2018. On December 6, 2018, $25,000,000 in aggregate principal amount of 6.00% Fixed-to-Floating Rate Subordinated Notes due December 6, 2028 (the “Notes”). The Notes were issued by the Company to the Purchasers at a price equal to 100% of their face amount in a private offering in reliance on the exemptions from registration available under Section 4(a)(2) of the Securities Act of 1933, 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. 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. The parent company only financial statements report investments in the subsidiary bank under the equity method. 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, goodwill, deferred tax assets, other-than-temporary impairment of investment securities and the fair value of loans held for sale. Segment Information The Company has one reportable segment, “Community Banking.” All of the Company’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Company supports the others. For example, lending is dependent upon the ability of the Bank to fund itself with deposits and other borrowings and manage interest rate and credit risk. Accordingly, all significant operating decisions are based upon analysis of the Company as one segment or unit. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, amounts due from banks, cash items in the process of clearing, federal funds sold, and interest-bearing deposits with banks with original maturities of less than 90 days. Generally, federal funds are sold as overnight investments. Investment Securities Debt securities not classified as held-to-maturity are classified as available-for-sale. Investments held-to-maturity represents securities that the Company has both intent and ability to hold until maturity. Securities available-for-sale are acquired as part of the Bank's asset/liability management strategy and may be sold in response to changes in interest rates, loan demand, changes in prepayment risk and other factors. Securities available-for-sale are carried at estimated fair value, with unrealized gains or losses based on the difference between amortized cost and fair value reported as accumulated other comprehensive income (loss), net of deferred taxes, a separate component of stockholders’ equity, when appropriate. Realized gains and losses, using the specific identification method, are included as a separate component of noninterest income. Related interest and dividends are included in interest income. Held-to-maturity investments premiums and discounts are amortized to interest income using the effective interest method. Declines in the fair value of individual securities below their amortized cost that are other than temporary result in write-downs of the individual securities to their fair value. Factors affecting the determination of whether an other-than-temporary impairment has occurred include a downgrading of the security by a rating agency, a significant deterioration in the financial condition of the issuer, or that management would not have the intent and ability to hold a security for a period of time sufficient to allow for any anticipated recovery in fair value or that management would be required to sell the security before recovery in fair value. Nonmarketable Equity Securities Nonmarketable equity securities include equity securities that are not publicly traded or are held to meet regulatory requirements such as These securities are accounted for at cost. As of December 31, 2018 and 2017 none of the non-marketable equity securities were considered impaired. Due to redemptive provisions of the Marketable Equity Securities Marketable equity securities are carried at estimated fair value based on quoted prices. Effective January 1, 2018, changes in fair value of marketable equity securities are recognized in net income. At December 31, 2018, marketable equity securities amounted to $3.7 million and are included in interest receivable and other assets caption of the consolidated balance sheet. At December 31, 2017, marketable equity securities totaled $2.5 million and were included with available-for-sale securities with unrealized losses excluded from net income and reported in accumulated other comprehensive income (loss). Derivative Instruments and Hedging Activity The Company’s risk management strategy incorporates the use of interest rate swap contracts that help in managing interest rate risk within the loan portfolio. These derivatives not designated as hedges and are not speculative, and result from a service the Company provides to certain customers. During 2018, the Company entered into an interest rate swap transaction. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. By using derivative instruments, the Company is exposed to credit and market risk. If the counterparty fails to perform, credit risk is equal to the fair value gain in a derivative. When the fair value of a derivative contract is positive, this situation generally indicates that the counterparty is obligated to pay the Company, and, therefore, creates a repayment risk for the Company. When the fair value of a derivative contract is negative, the Company is obligated to pay the counterparty and therefore, has no repayment risk. The Company minimizes the credit risk in derivative instruments by entering into transactions with high-quality counterparties that are reviewed periodically by the Company. The Company’s derivative activities are monitored by its Asset-Liability Management Committee as part of that committee's oversight of the Company’s asset/liability and treasury functions. The Company’s Asset-Liability Management Committee is responsible for implementing various hedging strategies that are developed through its analysis of data from financial simulation models and other internal and industry sources. The resulting hedging strategies are then incorporated into the overall interest-rate risk management process. The Company recognizes the fair value of derivatives as assets or liabilities in the financial statements. The accounting for the changes in the fair value of a derivative depends on the intended use of the derivative instrument at inception. The change in fair value of the effective portion of cash flow hedges is accounted for in other comprehensive income rather than net income. Changes in fair value of derivative instruments that are not intended as a hedge are accounted for in the net income in the period of the change (see Derivatives and Hedging Activities footnote for further disclosure). 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. Loans and Leases Loans are stated at their principal balance outstanding, plus deferred origination costs, less unearned discounts and deferred origination fees. Interest on loans is credited to income based on the principal amounts outstanding. Origination fees and costs are amortized to income over the contractual life of the related loans. Generally, accrual of interest on a loan is discontinued when the loan is delinquent more than 90 days unless the collateral securing the loan is sufficient to liquidate the loan. All interest accrued but not collected for loans that are placed on non-accrual or charged-off is reversed against interest income. Interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. Management considers loans impaired when, based on current information, it is probable that the Company will not collect all principal and interest payments according to contractual terms. Loans are tested for impairment no later than when principal or interest payments become 90 days or more past due and they are placed on non-accrual. Management also considers the financial condition of the borrower, cash flows of the loan and the value of the related collateral. Impaired loans do not include large groups of smaller balance homogeneous loans such as residential real estate and consumer installment loans which are evaluated collectively for impairment. Loans specifically reviewed for impairment are not considered impaired during periods of “minimal delay” in payment (90 days or less) provided eventual collection of all amounts due is expected. The impairment of a loan may be measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or the fair value of the collateral if repayment is expected to be provided by the collateral. Generally, the Company’s impairment on such loans is measured by reference to the fair value of the collateral. Interest income on impaired loans is recognized on the cash basis. The segments of the Company’s loan portfolio are disaggregated to a level that allows management to monitor risk and performance. The commercial real estate (“CRE”) loan segment is further disaggregated into two classes; owner occupied loans and non-owner occupied loans. Non-owner occupied CRE loans, which include loans secured by non-owner occupied nonfarm nonresidential properties, generally have a greater risk profile than owner occupied CRE loans. The residential mortgage loan segment is further disaggregated into two classes: first lien mortgages and second or junior lien mortgages. Allowance for Credit Losses The allowance for credit losses is maintained at a level believed adequate by management to absorb probable losses inherent in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, an assessment of individual problem loans, actual loss experience, current economic events in specific industries and geographic areas including unemployment levels and other pertinent factors including general economic conditions. Determination of the allowance is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogenous loans based on historical loss experience and consideration of economic trends, all of which may be susceptible to significant change. Credit losses are charged off against the allowance, while recoveries of amounts previously charged off are credited to the allowance. A provision for credit losses is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors. Evaluations are conducted at least quarterly and more often if deemed necessary. The allowance for credit losses consists of a specific component and a nonspecific component. The components of the allowance for credit losses represent an estimation done pursuant to either the Financial Accounting Standards Board’s (the “FASB”) Accounting Standards Codification (“ASC”) Topic 450 Contingencies or ASC Topic 310 Receivables . The specific component of the allowance for credit losses reflects expected losses resulting from analysis developed through credit allocations for individual loans. The credit allocations are based on a regular analysis of all loans over a fixed-dollar amount where the internal credit rating is at or below a predetermined classification. The specific component of the allowance for credit losses also includes management’s determination of the amounts necessary given concentrations and changes in portfolio mix and volume. The nonspecific portion of the allowance is determined based on management’s assessment of general economic conditions, as well as economic factors in the individual markets in which the Company operates including the strength and timing of economic cycles and concerns over the effects of a prolonged economic downturn in the current cycle. This determination inherently involves a higher risk of uncertainty and considers current risk factors that may not have yet manifested themselves in the Bank’s historical loss factors used to determine the nonspecific component of the allowance, and it recognizes knowledge of the portfolio may be incomplete. The Bank’s historic loss factors are based upon actual losses incurred by portfolio segment over the preceding 24-month period. In portfolio segments where no actual losses have been incurred within the most recent 24-month period, industry loss data for that portfolio segment, as provided by the are utilized. In addition to historic loss factors, the Bank’s methodology for the allowance for credit losses also incorporates other risk factors that may be inherent within the portfolio segments. For each portfolio segment, in addition to the historic loss experience, the other factors that are measured and monitored in the overall determination of the allowance include: changes in lending policies, procedures, practices or personnel; changes in the level and composition of construction portfolio and related risks; changes and migration of classified assets; changes in exposure to subordinate collateral lien positions; levels and composition of existing guarantees on loans by the changes in national, state and local economic trends and business conditions; changes and trends in levels of loan payment delinquencies; and any other factors that management considers relevant to the quality or performance of the loan portfolio. Each of these qualitative risk factors is measured based upon data generated either internally, or in the case of economic conditions utilizing independently provided data on items such as unemployment rates, commercial real estate vacancy rates, or other market data deemed relevant to the business conditions within the markets served. The Company’s loan policies state that after all collection efforts have been exhausted, and the loan is deemed to be a loss, then the remaining loan balance will be charged to the Company’s established allowance for credit losses. All loans are evaluated for loss potential once it has been determined by the Watch Committee that the likelihood of repayment is in doubt. When a loan is past due for at least 90 days or a deterioration in debt service coverage ratio, guarantor liquidity, or loan-to-value ratio has occurred that would cause concern regarding the likelihood of the full repayment of principal and interest, and the loan is deemed not to be well secured, the loan should be moved to non-accrual status and a specific reserve is established if the net realizable value is less than the principal value of the loan balance(s). Once the actual loss value has been determined a charge-off against the allowance for credit losses for the amount of the loss is taken. Each loss is evaluated on its specific facts regarding the appropriate timing to recognize the loss. Goodwill, Other Intangible Assets and Long-Lived Assets Goodwill represents the excess of the purchase price over the sum of the estimated fair values of tangible and identifiable intangible assets acquired less the estimated fair value of the liabilities assumed. Core deposit intangibles represent the estimated value of long-term deposit relationships acquired in a business combination. The core deposit intangible is amortized over the estimated useful lives of the acquired long-term deposits acquired, and the remaining amounts of the core deposit intangible are periodically reviewed for impairment. Goodwill has an indefinite useful life and is evaluated for impairment annually or more frequently if events and circumstances indicate that the asset might be impaired. Long-lived assets are those that provide the company with a future economic benefit beyond the current year or operating period. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset is greater than the fair value of the asset. Assets to be disposed of are reported at the lower of the cost or the fair value, less costs to sell. An impairment analysis is performed annually. Management has determined that Bancorp has one reporting unit, and based upon the annual impairment analysis, it was determined that there was not an impairment of the carrying value of either the goodwill, core deposit intangible or other long-lived assets for 2018. Business Combinations GAAP requires that the acquisition method of accounting, formerly referred to as the purchase method, be used for all business combinations and that an acquirer be identified for each business combination. Under GAAP, the acquirer is the entity that obtains control of one or more businesses in the business combination, and the acquisition date is the date the acquirer achieves control. GAAP requires that the acquirer recognize the fair value of assets acquired, liabilities assumed, and any non-controlling interest in the acquired entity at the acquisition date. Other Real Estate Owned Other real estate acquired through, or in lieu of, foreclosure is initially recorded at fair value less estimated cost to sell at the date of acquisition, establishing a new cost basis. Revenues and expenses from operations are included in noninterest income. Additions to the valuation allowance are included in noninterest expense. Subsequent to foreclosure, valuations are periodically performed by management and an allowance for losses is established, if necessary, by a charge to operations if the carrying value of a property exceeds its estimated fair value less estimated costs to sell. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization computed using the straight-line method. Premises and equipment are depreciated over the useful lives of the assets, which generally range from three to 10 years for furniture, fixtures and equipment and three to five years for computer software and hardware. Bank owned premises are depreciated over a range of 20 to 30 years. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. The costs of major renewals and betterments are capitalized, while the costs of ordinary maintenance and repairs are included in noninterest expense. Income Taxes The Company uses the asset/liability method of accounting for income taxes. Under the asset/liability method, deferred tax assets and liabilities are determined based on differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities (i.e., temporary differences) and are measured at the enacted rates that will be in effect when these differences reverse. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. In addition, deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or the entire deferred tax asset will not be realized. The Company does not have uncertain tax positions that are deemed material, and did not recognize any adjustments for unrecognized tax benefits. The Company’s policy is to recognize interest and penalties on income taxes in other noninterest expenses. The Company remains subject to examination by federal and state taxing authorities for income tax returns for the years ending after December 31, 2015. Net Income Per Common Share Basic net income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the year. Diluted net income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the year including any potential dilutive effects of common stock equivalents, such as options and warrants. Share-Based Compensation Compensation cost is recognized for stock options issued to directors and employees. Compensation cost is measured as the fair value of these awards on their date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options. Compensation cost is recognized over the required service period, generally defined as the vesting period for stock option awards. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. When an award is granted to an employee who is retirement eligible, the compensation cost of these awards is recognized over the period up to when the director or employee first becomes eligible to retire. Compensation expense for non-vested common stock awards is based on the fair value of the awards, which is generally the market price of the common stock on the measurement date, which, for the Company, is the date of grant, and is recognized ratably over the service period of the award. Off-Balance Sheet Financial Instruments In the ordinary course of business, the Company has entered into off-balance sheet financial instruments consisting of commitments to extend credit. Such financial instruments are recorded in the consolidated balance sheet when they are funded. Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on securities available for sale, are reported as a separate component of the equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income. The Company’s sole component of accumulated other comprehensive income/loss is unrealized gains/losses on available for sale securities. Transfer of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. In certain cases, the recourse to the Bank to repurchase assets may exist but is deemed immaterial based on the specific facts and circumstances. Reclassifications Certain reclassifications to 2017 and 2016 financial presentation were made to conform to the 2018 presentation. These reclassifications did not affect previously reported net income or total stockholders’ equity. New Accounting Pronouncements The FASB has issued ASU 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (“SOFR”) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes. This ASU permits use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes. Alternative Reference Rates Committee “ARRC” has proposed that the SOFR is the rate that represents best practice as the alternative to derivatives currently indexed to LIBOR. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments should be adopted on a prospective basis for qualifying new or re-designated hedging relationships entered into on or after the date of adoption. The Company has non-designated hedge contracts that are indexed to LIBOR and is monitoring this activity and evaluating the related risks as they relate to derivatives. The FASB has issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework— Changes to the Disclosure Requirements for Fair Value Measurement. This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reason for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019; early adoption is permitted. Entities are also allowed to elect early adoption of the eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. ASU 2018-13 only revises disclosure requirements, it will not have a material impact on the Company’s Consolidated Financial Stateme |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Note 2: Business Combinations First Mariner Merger On March 1, 2018, 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 Bancorp common stock, which was valued at approximately $164.6 million based on the closing price of common stock of $18.00 on February 28, 2018. The Company has accounted for the First Mariner 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 $70.1 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 $ 38,889 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 120,049 Core deposit intangible 12,588 Total fair value of assets acquired $ 1,001,298 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: $ 103,729 Transaction consideration paid to First Mariner 173,823 Amount of goodwill recorded from First Mariner Acquisition $ 70,094 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 As of the First Mariner Merger date, 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 First Mariner 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 the 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 expects 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 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 year ended December 31, 2018 is summarized as follows: Compensation related $ 9,871 Equipment disposition 1,918 Legal and consulting 2,005 Contract Terminations 677 Accounting & other 1,078 Total $ 15,549 Pro Forma Condensed Combined Financial Information: The following table presents unaudited pro forma information as if the First Mariner Merger had been completed on January 1, 2018, January 1, 2017 and January 1, 2016. The pro forma information does not necessarily reflect the results of operations that would have occurred had the First Mariner Merger occurred at the beginning of 2018, 2017 or 2016. Supplemental pro forma 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. December 31, 2018 2017 2016 Net interest income after provision $ 66,873 $ 59,626 $ 58,570 Noninterest income 19,890 29,285 24,557 Noninterest expense 77,699 80,721 74,787 Net income 6,569 1,315 2,732 Net income per share $ 0.35 $ 0.09 $ 0.18 |
Cash and Due from Banks
Cash and Due from Banks | 12 Months Ended |
Dec. 31, 2018 | |
Cash and Due from Banks [Abstract] | |
Cash And Due From Banks [Text Block] | Note 3: Cash and Due from Banks Regulation D of the Federal Reserve Act requires that banks maintain reserve balances with the Federal Reserve Bank based principally on the type and amount of their deposits. During 2018 and 2017, the Company maintained balances at the Federal Reserve (in addition to vault cash) to meet the reserve requirements as well as balances to partially compensate for services. Additionally, the Company maintained balances with the Federal Home Loan Bank and other domestic correspondent financial institutions as partial compensation for services they provided to the Company. |
Investments Securities
Investments Securities | 12 Months Ended |
Dec. 31, 2018 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments Disclosure [Text Block] | Note 4: Investments Securities The Company holds securities classified as available for sale and held to maturity. The amortized cost and estimated fair values of investments are as follows: December 31, (in thousands) 2018 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 $ 130,088 $ 428 $ 119 $ 130,397 $ 68,082 $ - $ 342 $ 67,740 Treasuries - - - - 1,505 - 11 1,494 Mortgage-backed 90,242 364 146 90,460 2,541 - 62 2,479 Other investments 3,011 - 10 3,001 2,579 - 36 2,543 $ 223,341 $ 792 $ 275 $ 223,858 $ 74,707 $ - $ 451 $ 74,256 Held to maturity Corporate debentures $ 9,250 $ 45 $ 42 $ 9,253 $ 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 December 31, 2018 and December 31, 2017 are presented below: December 31, 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 $ 3,049 $ 3 $ 13,887 $ 116 $ 16,936 $ 119 Mortgage-backed 26,197 54 2,107 92 28,304 146 Other investments 3,001 10 - - 3,001 10 $ 32,247 $ 67 $ 15,994 $ 208 $ 48,241 $ 275 Held to maturity Corporate debentures $ 2,458 $ 42 $ - $ - $ 2,458 $ 42 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 (1) duration and magnitude of the decline in value, (2) the financial condition of the issuer or issuers and (3) structure of the security. The portfolio contained 31 securities with unrealized losses and 38 securities with unrealized losses at December 31, 2018 and 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 stockholders’ equity as a component of other comprehensive income, net of deferred tax. The amortized cost and estimated fair values of investments by contractual maturity are shown below: December 31, (in thousands) 2018 2017 Amortized Estimated Fair Amortized Estimated Fair Cost Value Cost Value Amounts maturing: One year or less $ 38,936 $ 38,892 $ 35,105 $ 34,995 After one through five years 88,175 88,513 34,489 34,248 After five through ten years 19,873 19,921 9,257 9,428 After ten years 85,607 85,785 2,526 2,464 $ 232,591 $ 233,111 $ 81,377 $ 81,135 At December 31, 2018 and December 31, 2017, $42.3 million and $28.8 million fair value of securities, respectively, were pledged as collateral for both repurchase agreements and deposits of local government entities that require pledged collateral as a condition of maintaining these deposit accounts. No single issuer of securities, except for Government agency securities, had outstanding balances that exceeded ten percent of stockholders’ equity at December 31, 2018. |
Nonmarketable Equity Securities
Nonmarketable Equity Securities | 12 Months Ended |
Dec. 31, 2018 | |
Nonmarketable Equity Securities [Abstract] | |
Nonmarketable Equity Securities [Text Block] | Note 5: Nonmarketable Equity Securities At December 31, 2018 and December 31, 2017, the Company’s investment in nonmarketable equity securities consisted of Federal Home Loan Bank stock, which is required for continued membership, of $11.8 million and $6.5 million, respectively. This investment is carried at cost. |
Loans and Leases
Loans and Leases | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Financing Receivables [Text Block] | Note 6: Loans and Leases The Company makes loans and leases to customers primarily in the Greater Baltimore Maryland 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 December 31, 2018 and December 31, 2017 are presented in the following table: December 31, 2018 December 31, 2017 (in thousands) Legacy Acquired 1 Total % of Total Total % of Total Real estate Construction and land $ 87,739 $ 35,932 $ 123,671 7.5 % $ 74,398 7.9 % Residential - first lien 209,777 173,267 383,044 23.2 194,896 20.8 Residential - junior lien 45,421 44,224 89,645 5.4 43,047 4.6 Total residential real estate 255,198 217,491 472,689 28.6 237,943 25.4 Commercial - owner occupied 187,166 46,936 234,102 14.2 170,408 18.2 Commercial - non-owner occupied 288,927 138,820 427,747 25.9 260,802 27.8 Total commercial real estate 476,093 185,756 661,849 40.1 431,210 46.0 Total real estate loans 819,030 439,179 1,258,209 76.2 743,551 79.3 Commercial loans and leases 228,422 108,454 336,876 20.5 188,729 20.2 Consumer 21,236 33,430 54,666 3.3 4,328 0.5 Total loans $ 1,068,688 $ 581,063 $ 1,649,751 100.0 % $ 936,608 100.0 % (1) Loans acquired in 2018, previously acquired loans are included in legacy balances Net loan origination fees, which are included in the amounts above, totaled $307 thousand and $54 thousand at December 31, 2018 and 2017, respectively. Portfolio Segments The Company currently manages its credit products and the respective exposure to credit losses (credit risk) by the following specific portfolio segments (classes) which are levels at which the Company develops and documents its systematic methodology to determine the allowance for credit losses attributable to each respective portfolio segment. These segments are: Commercial business loans & leases Construction and land loans – Commercial acquisition, development and construction loans are intended to finance the construction of commercial and residential properties and include loans for the acquisition and development of land. Construction loans represent a higher degree of risk than permanent real estate loans and may be affected by a variety of factors such as the borrower’s ability to control costs and adhere to time schedules and the risk that constructed units may not be absorbed by the market within the anticipated time frame or at the anticipated price. The loan commitment on these loans often includes an interest reserve that allows the lender to periodically advance loan funds to pay interest charges on the outstanding balance of the loan. Commercial owner occupied real estate loans – Commercial owner-occupied real estate loans consist of commercial mortgage loans secured by owner occupied properties where an established banking relationship exists and involves a variety of property types to conduct the borrower’s operations. The primary source of repayment for this type of loan is the cash flow from the business and is based upon the borrower’s financial health and the ability of the borrower and the business to repay. Commercial non-owner occupied real estate loans – Commercial non-owner occupied loans consist of properties where an established banking relationship exists and involves investment properties for warehouse, retail, and office space with a history of occupancy and cash flow. This commercial real estate category contains mortgage loans to the developers and owners of commercial real estate where the borrower intends to operate or sell the property at a profit and use the income stream or proceeds from the sale(s) to repay the loan. Consumer loans – This category of loans includes primarily installment loans and personal lines of credit. Consumer loans include installment loans used by customers to purchase automobiles, boats and recreational vehicles. Residential first lien mortgage loans – The residential real estate category contains permanent mortgage loans principally to consumers secured by residential real estate. Residential real estate loans are evaluated for the adequacy of repayment sources at the time of approval, based upon measures including credit scores, debt-to-income ratios, and collateral values. Loans may be either conforming or non-conforming. Residential junior lien mortgage loans – This category of loans includes primarily home equity loans and lines. The home equity category consists mainly of revolving lines of credit to consumers which are secured by residential real estate. These loans are typically secured with second mortgages on the homes. Acquired Impaired Loans The following table documents changes in the accretable discount on acquired impaired loans at December 31, 2018 and 2017: December 31, (in thousands) 2018 2017 Balance at beginning of period $ - $ 60 Impaired loans acquired 1,055 - Accretion of fair value discounts (178 ) (60 ) Balance at end of period $ 877 $ - 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 December 31, 2018 $ 15,463 $ 11,446 At December 31, 2017 1,292 851 |
Credit Quality Assessment
Credit Quality Assessment | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Allowance for Credit Losses [Text Block] | Note 7: Credit Quality Assessment Allowance for Credit Losses Credit risk can vary significantly as losses, as a percentage of outstanding loans, can vary widely during economic cycles and are sensitive to changing economic conditions. The amount of loss in any particular type of loan can vary depending on the purpose of the loan and the underlying collateral securing the loan. Collateral securing commercial loans can range from accounts receivable to equipment to improved or unimproved real estate depending on the purpose of the loan. Home mortgage and home equity loans and lines are typically secured by first or second liens on residential real estate. Consumer loans may be secured by personal property, such as auto loans or they may be unsecured loan products. To control and manage credit risk, management has an internal credit process in place to determine whether credit standards are maintained along with an in-house loan administration accompanied by oversight and review procedures. The primary purpose of loan underwriting is the evaluation of specific lending risks that involves the analysis of the borrower’s ability to service the debt as well as the assessment of the value of the underlying collateral. Oversight and review procedures include the monitoring of the portfolio credit quality, early identification of potential problem credits and the management of the problem credits. As part of the oversight and review process, the Company maintains an allowance for credit losses (the “allowance”) to absorb estimated and probable losses in the loan and lease portfolio. The allowance is based on consistent, continuous review and evaluation of the loan and lease portfolio, along with ongoing assessments of the probable losses and problem credits in each portfolio. While portions of the allowance are attributed to specific portfolio segments, the entire allowance is available for credit losses inherent in the total loan portfolio. The following table provides information on the activity in the allowance for credit losses by the respective loan portfolio segment for the years ended December 31, 2018, 2017 and 2016: December 31, 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: Beginning balance $ 735 $ 668 $ 177 $ 617 $ 1,410 $ 2,529 $ 23 $ 6,159 Charge-offs (202 ) (142 ) (195 ) (28 ) (797 ) (1,092 ) (63 ) (2,519 ) Recoveries - 8 10 - 32 88 4 142 Provision for credit losses 208 636 300 146 3,412 1,119 270 6,091 Ending balance $ 741 $ 1,170 $ 292 $ 735 $ 4,057 $ 2,644 $ 234 $ 9,873 Allowance allocated to: individually evaluated for impairment $ - $ - $ - $ - $ 2,195 $ 200 $ - $ 2,395 collectively evaluated for impairment $ 741 $ 1,170 $ 292 $ 735 $ 1,862 $ 2,444 $ 234 $ 7,478 Loans: Legacy Loans: Ending balance $ 87,739 $ 209,777 $ 45,421 $ 187,166 $ 288,927 $ 228,422 $ 21,236 $ 1,068,688 individually evaluated for impairment $ 560 $ 5,184 $ 100 $ 45 $ 5,018 $ 2,455 $ - $ 13,362 collectively evaluated for impairment $ 87,179 $ 204,593 $ 45,321 $ 187,121 $ 283,909 $ 225,967 $ 21,236 $ 1,055,326 Acquired Loans: Ending balance $ 35,932 $ 173,267 $ 44,224 $ 46,936 $ 138,820 $ 108,454 $ 33,430 $ 581,063 purchased credit impaired loans $ 889 $ 8,075 $ 1,037 $ 1,223 $ - $ - $ 174 $ 11,398 collectively evaluated for impairment $ 35,043 $ 165,192 $ 43,187 $ 45,713 $ 138,820 $ 108,454 $ 33,256 $ 569,665 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 for credit losses: Beginning balance $ 511 $ 454 $ 89 $ 327 $ 1,120 $ 3,800 $ 127 $ 6,428 Charge-offs (155 ) (133 ) (31 ) (235 ) - (1,605 ) (108 ) (2,267 ) Recoveries 6 - 1 6 6 113 35 167 Provision for credit losses 373 347 118 519 284 221 (31 ) 1,831 Ending balance $ 735 $ 668 $ 177 $ 617 $ 1,410 $ 2,529 $ 23 $ 6,159 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 December 31, 2016 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: Beginning balance $ 265 $ 300 $ 47 $ 309 $ 728 $ 3,094 $ 126 $ 4,869 Charge-offs (216 ) - - (191 ) - (234 ) (20 ) (661 ) Recoveries - - - 40 5 101 37 183 Provision for credit losses 462 154 42 169 387 839 (16 ) 2,037 Ending balance $ 511 $ 454 $ 89 $ 327 $ 1,120 $ 3,800 $ 127 $ 6,428 Allowance allocated to: individually evaluated for impairment $ - $ 7 $ - $ - $ - $ 2,076 $ 72 $ 2,155 collectively evaluated for impairment $ 511 $ 447 $ 89 $ 327 $ 1,120 $ 1,724 $ 55 $ 4,273 Loans: Ending balance $ 72,973 $ 195,032 $ 35,009 $ 134,213 $ 216,781 $ 162,715 $ 4,801 $ 821,524 individually evaluated for impairment $ 125 $ 785 $ 37 $ 509 $ 3,148 $ 5,142 $ 167 $ 9,913 collectively evaluated for impairment $ 72,848 $ 194,247 $ 34,972 $ 133,704 $ 213,633 $ 157,573 $ 4,634 $ 811,611 Integral to the assessment of the allowance process is an evaluation that is performed to determine whether a specific reserve on an impaired credit is warranted. At such time an action plan is agreed upon for the particular loan, an appraisal will be ordered (for real estate based collateral) depending on the time elapsed since the prior appraisal, the loan balance and/or the result of the internal evaluation. The Company’s policy is to strictly adhere to regulatory appraisal standards. If an appraisal is ordered, no more than a 45 day turnaround is requested from the appraiser, who is selected from an approved appraiser list. After receipt of the updated appraisal, the Company’s Watch Committee will determine whether a specific reserve or a charge-off should be taken based upon an impairment analysis. 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. Any further collateral deterioration may result in either further specific reserves being established or additional charge-offs. The President and the Chief Lending Officer have the authority to approve a specific reserve or charge-off between Watch Committee meetings to ensure that there are no significant time lapses during this process. The Company’s systematic methodology for evaluating whether a loan is impaired begins with risk-rating credits on an individual basis and includes consideration of the borrower’s overall financial condition, resources and payment record, the sufficiency of collateral and, in a select few cases, support from financial guarantors. In measuring impairment, the Company looks to the discounted cash flows of the project itself or the value of the collateral as the primary sources of repayment of the loan. The Company will consider the existence of guarantees and the financial strength and wherewithal of the guarantors involved in any loan relationship as both a secondary source of repayment and for the potential as the primary repayment of the loan . The Company typically relies on recent third party appraisals of the collateral to assist in measuring impairment. Management has established a credit process that dictates that structured procedures be performed to monitor these loans between the receipt of an original appraisal and the updated appraisal. These procedures include the following: · An internal evaluation is updated quarterly to include borrower financial statements and/or cash flow projections. · The borrower may be contacted for a meeting to discuss an update or revised action plan which may include a request for additional collateral. · Re-verification of the documentation supporting the Company’s position with respect to the collateral securing the loan. · At the Watch Committee meeting the loan may be downgraded and a specific reserve may be decided upon in advance of the receipt of the appraisal if it is determined that the likelihood of repayment is in doubt. The Company generally follows a policy of not extending maturities on non-performing loans under existing terms. The Company may extend the maturity of a performing or current loan that may have some inherent weakness associated with the loan. Maturity date extensions only occur under terms that clearly place the Company in a position to assure full collection of the loan under the contractual terms and/or terms at the time of the extension that may eliminate or mitigate the inherent weakness in the loan. These terms may incorporate, but are not limited to additional assignment of collateral, significant balance curtailments/liquidations and assignments of additional project cash flows. Guarantees may be a consideration in the extension of loan maturities, but the Company does not extend loans based solely on guarantees. As a general matter, the Company does not view extension of a loan to be a satisfactory approach to resolving non-performing credits. On an exception basis, certain performing loans that have displayed some inherent weakness in the underlying collateral values, an inability to comply with certain loan covenants which are not affecting the performance of the credit or other identified weakness may be extended. Collateral values or estimates of discounted cash flows (inclusive of any potential cash flow from guarantees) are evaluated to estimate the probability and severity of potential losses. A specific amount of impairment is established based on the Company’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: December 31, 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 $ 87,305 $ 205,573 $ 45,321 $ 187,121 $ 283,771 $ 225,698 $ 21,236 $ 1,056,025 Special mention - - - - - - - - Substandard 434 4,204 100 45 5,156 2,724 - 12,663 Doubtful - - - - - - - - Total $ 87,739 $ 209,777 $ 45,421 $ 187,166 $ 288,927 $ 228,422 $ 21,236 $ 1,068,688 Acquired Loans: Not classified $ 34,965 $ 165,193 $ 43,186 $ 41,287 $ 138,820 $ 108,454 $ 33,256 $ 565,161 Special mention 78 - - 3,877 - - - 3,955 Substandard 889 8,074 1,038 1,772 - - 174 11,947 Doubtful - - - - - - - - Total $ 35,932 $ 173,267 $ 44,224 $ 46,936 $ 138,820 $ 108,454 $ 33,430 $ 581,063 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 a possible credit deterioration. An aged analysis of past due loans are as follows: December 31, 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 $ 86,788 $ 196,769 $ 44,580 $ 187,121 $ 283,601 $ 225,649 $ 21,227 $ 1,045,735 Accruing loans past due: 30-59 days past due - 5,993 397 - 308 49 9 6,756 60-89 days past due 166 2,241 344 - - 307 - 3,058 Greater than 90 days past due 351 570 - - - - - 921 Total past due 517 8,804 741 - 308 356 9 10,735 Non-accrual loans 434 4,204 100 45 5,018 2,417 - 12,218 Total loans $ 87,739 $ 209,777 $ 45,421 $ 187,166 $ 288,927 $ 228,422 $ 21,236 $ 1,068,688 Acquired Loans: Accruing loans current $ 35,043 $ 164,752 $ 42,304 $ 45,713 $ 138,696 $ 108,409 $ 33,256 $ 568,173 Accruing loans past due: 30-59 days past due - 440 540 - 124 45 - 1,149 60-89 days past due - - 343 - - - - 343 Greater than 90 days past due - - - - - - - - Total past due - 440 883 - 124 45 - 1,492 Non-accrual loans 1 889 8,075 1,037 1,223 - - 174 11,398 Total loans $ 35,932 $ 173,267 $ 44,224 $ 46,936 $ 138,820 $ 108,454 $ 33,430 $ 581,063 (1) First Mariner 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 $24.5 million or 1.5% of total loans outstanding at December 31, 2018, which represents an increase from $16.0 million or 1.7% at December 31, 2017. The impaired loans for the years ended December 31, 2018 and 2017 are as follows: December 31, 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 $ 5,184 $ 100 $ 45 $ 5,018 $ 2,455 $ - $ 13,362 With an allowance recorded - - - - 2,816 200 - 3,016 With no related allowance recorded 560 5,184 100 45 2,202 2,255 - 10,346 Related allowance - - - - 2,195 200 - 2,395 Unpaid principal 761 5,224 99 45 5,040 3,670 - 14,839 Average balance of impaired loans 761 6,245 91 45 5,085 4,358 - 16,585 Interest income recognized - 111 2 - 5 124 - 242 Acquired Loans: Recorded investment 1 $ 889 $ 8,075 $ 1,037 $ 1,223 $ - $ - $ 174 11,398 Unpaid principal 1,112 9,201 1,357 1,524 255 1,198 185 14,832 Average balance of impaired loans 1,112 9,201 1,357 1,524 255 1,198 185 14,832 Interest income recognized - 363 49 16 - 1 5 434 (1) First Mariner 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 $23.6 million and $12.6 million at December 31, 2018 and 2017, respectively. Interest income that would have been recorded if non-accrual loans had been current and in accordance with their original terms, was $1.2 million, $898 thousand and $673 thousand for the years ended December 31, 2018, 2017 and 2016, 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 impaired loans that may either be in accruing status or non-accruing status. Non-accruing restructured loans 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 they have performed based on all of the restructured loan terms. The troubled debt restructured loans (“TDRs”) at December 31, 2018 and December 31, 2017 are as follows: December 31, 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 2 291 2 982 1,273 Commercial - non-owner occupied 2 2,815 - - 2,815 Commercial loans and leases 1 514 - - 514 5 $ 3,620 3 $ 1,107 $ 4,727 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 performance under modified terms is as follows: December 31, 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 - 291 982 1,273 Commercial RE - non-owner occupied Rate modification 2,195 2,815 - 2,815 Commercial loans Forbearance - 514 - 514 Total troubled debt restructured loans $ 2,195 $ 3,620 $ 1,107 $ 4,727 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 2018, consisting of a residential first lien mortgage loan in the amount of $96 As a part of the modification of the land development loan restructured during 2016, 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 consisted of interest rate concessions and payment term extensions, not principal reductions that resulted in a partial charge-off. Performing TDRs were in compliance with their modified terms and there are no further commitments associated with these loans. During 2018 there were no TDRs that subsequently defaulted within twelve months of their modification dates. Additionally, there was one restructured credit the status of which changed from non-performing to performing during the second quarter 2018. Management routinely evaluates other real estate owned (“OREO”) based upon periodic appraisals. For the years ended December 31, 2018, 2017 and 2016 there were additional allowances recorded of $352 thousand, $581 thousand and $83 thousand, respectively, as the current appraised value, less estimated cost to sell, was not sufficient to cover the recorded OREO amount. For 2018 there were three residential first lien loan totaling $917 transferred from loans to OREO, and 2017 there were no new loans transferred from loans to OREO. In 2018, the Company sold two commercial properties with a carrying value of $611 thousand, recording a $50 thousand gain from the sale of these properties. Additionally the Company sold two commercial land parcels with a carrying values of $96 thousand, recording a $13 thousand gain on the sale. In connection with the First Mariner merger, the Bank’s OREO balances increased $3.0 million, representing 11 properties. At December 31, 2018, there were four residential first lien loans totaling $960 thousand, and one residential junior loan of $22 thousand in the process of foreclosure. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 8: Derivatives and Hedging Activities Non-designated Hedges of Interest Rate Risk The Company maintains interest rate swap contracts with customers that are classified as non-designated hedges and are not speculative in nature. These agreements are designed to convert customer’s variable rate loans with the Company to fixed rate. These interest rate swaps are executed with loan customers to facilitate a respective risk management strategy and allow the customer to pay a fixed rate interest to the Company. These interest rate swaps are simultaneously hedged by executing offsetting interest rate swaps with unrelated market counterparties to minimize the net risk exposure to the Company resulting from the transactions and allow the Company to receive a variable rate interest. The interest rate swaps pay and receive interest based on a floating rate based on one month LIBOR plus credit spread with payment being calculated on the notional amount. The interest rate swaps are settled with varying maturities. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. As of December 31, 2018, the interest rate swaps had an aggregate notional amount of approximately $6.2 million and the fair value of the interest swap derivatives are recorded in other assets and other liabilities. All changes in fair value are recorded through earnings as noninterest income. For 2018, the Company recorded a net loss of $6 thousand related to the change in fair value of these interest rate swap derivatives. The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheet as of December 31, 2018. December 31, 2018 Balance Sheet Notional Estimated Fair Value (dollars in thousands) Location Amount Gain Loss Not designated hedges of interest rate risk: Customer related interest rate contracts: Matched interest rate swaps with borrowers Other assets and other liabilities $ 3,061 $ 100 $ - Matched interest rate swaps with counterparty Other assets and other liabilities $ 3,061 $ - $ 106 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Disclosure [Text Block] | Note 9: 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. The Bank has one reporting unit, which is the core banking operation. On March 1, 2018 the Company initially recorded an additional $71.4 million in goodwill relating to the First Mariner merger. Based upon updated information the goodwill was adjusted downward in 2018 by $1.3 million to reflect revised valuations as detailed in Note 2. December 31, (in thousands) 2018 2017 Goodwill Banking $ 70,697 $ 603 Core deposit intangible is premiums paid for the acquisitions 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: December 31, 2018 Weighted Gross Net Average Carrying Accumulated Carrying Remaining Life (in thousands) Amount Amortization Amount (Years) Amortizing intangible assets: Core deposit intangible $ 16,135 $ 4,653 $ 11,482 4.7 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, is as follows: (in thousands) 2019 $ 3,012 2020 2,674 2021 2,326 2022 1,915 2023 1,298 Thereafter 257 Total amortizing intangible assets $ 11,482 Based upon an annual impairment analysis performed in 2018, it was determined that there was not an impairment of the carrying value of either the goodwill or core deposit intangible. |
Bank Premises and Equipment
Bank Premises and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Note 10: Bank Premises and Equipment Premises and equipment include the following at: December 31, (in thousands) 2018 2017 Land $ 10,239 $ 4,334 Building and leasehold improvements 35,571 16,384 Furniture and equipment 6,686 5,015 Software 419 345 52,915 26,078 Less: accumulated depreciation and amortization 7,778 6,889 Net premises and equipment $ 45,137 $ 19,189 Depreciation and amortization expense for premises and equipment were $ 2.1 The Company occupies banking and office space in 29 locations, 16 of which are under noncancellable lease arrangements accounted for as operating leases. The initial lease periods range from 5 to 20 years and provide for one or more renewal options. Rent expense applicable to operating leases amounted to $3.7 million, $2.0 million and $2.3 million for the years ended December 31, 2018, 2017 and 2016, respectively. Rental income from owned properties and subleases totaled $554 thousand, $387 thousand and $290 thousand for the years ended December 31, 2018, 2017 and 2016, respectively. Future minimum lease payments under noncancellable operating leases within the years ending December 31, having an initial term in excess of one year are as follows: (in thousands) 2019 $ 2,129 2020 1,772 2021 1,613 2022 1,462 2023 1,296 Thereafter 3,074 Total minimum lease payments $ 11,346 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | Note 11: Deposits The following table details the composition of deposits and the related percentage mix of total deposits, respectively: December 31, (dollars in thousands) 2018 2017 % of % of Amount Total Amount Total Noninterest-bearing demand $ 429,200 26 % $ 218,139 26 % Interest-bearing checking 227,322 13 71,642 8 Money market accounts 356,130 21 252,453 29 Savings 134,893 8 52,078 6 Certificates of deposit $250 and over 82,511 5 9,950 1 Certificates of deposit under $250 455,750 27 259,646 30 Total deposits $ 1,685,806 100 % $ 863,908 100 % The following table presents the maturity schedule for time deposits maturing within years ending December 31: (in thousands) 2019 $ 325,483 2020 128,452 2021 65,228 2022 13,385 2023 5,713 Total time deposits $ 538,261 Interest expense on deposits for the twelve months ended December 31, 2018, December 31, 2017 and December 31, 2016 was as follows: December 31, (in thousands) 2018 2017 2016 Interest-bearing checking $ 554 $ 168 $ 132 Savings and money market 2,393 1,217 1,220 Certificates of deposit 5,593 2,612 2,118 Total $ 8,540 $ 3,997 $ 3,470 |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2018 | |
Short-term Debt [Abstract] | |
Short-term Debt [Text Block] | Note 12: Short-Term Borrowings Short-term borrowings consist of overnight unsecured master notes, overnight securities sold under agreement to repurchase and fixed term borrowings with a final remaining maturity of less than one year. Information relating to short-term borrowings at December 31, 2018 and December 31, 2017 is presented below: December 31, 2018 2017 (dollars in thousands) Amount Rate Amount Rate At period end 134,576 2.08 % $ 130,385 1.35 % Average for the year 146,050 1.59 88,513 0.99 Maximum month-end balance 322,403 130,385 The Company pledges U.S. Government Agency securities, based upon their fair value, as collateral for 100% of the principal and accrued interest of its repurchase agreements. At December 31, 2018 and 2017 there were $16.6 million and $14.4 million, respectively, in investment securities pledged under these agreements. If the Company should need to supplement its liquidity, it could borrow, subject to collateral requirements, up to approximately $345.9 million on a line of credit arrangement with the Federal Home Loan Bank of Atlanta (the “FHLB”). At December 31, 2018 and 2017 there were $118.0 million and $116.0 million, respectively, in advances outstanding under this arrangement. Total loans pledged as collateral towards short and long term borrowing was $518.0 million and $330.8 million at December 31, 2018 and 2017, respectively. |
Long-Term Borrowings
Long-Term Borrowings | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Long-term Debt [Text Block] | Note 13: Long-Term Borrowings Long-term borrowings for the periods consisted of the following: December 31, (in thousands) 2018 2017 Federal Home Loan Bank Advances 1.99% Due 2019 1 $ - $ 15,000 2.48% Due 2020 2 14,000 - 2.53% Due 2020 2 15,000 - 2.67% Due 2020 2 30,000 - 2.62% Due 2020 2 30,000 - 2.71% Due 2020 2 25,000 - Subordinated debentures 2.48% Due 2035 3 5,000 5,000 6.00% Due 2028 4 25,000 - Total principal of long-term borrowings 144,000 20,000 Purchase accounting adjustment on acquired debt 3 (1,384 ) (1,465 ) Cost of issuance of subordinated debt 4 (539 ) - Total long-term borrowings $ 142,077 $ 18,535 (1) Fixed rate advances (2) Fixed rate hybrid advances (3) Subordinated debt acquired in 2015. Carrying value after purchase accounting adjustments of $3.6 million at December 31, 2018. Interest adjusts quarterly at the rate of three month LIBOR plus 1.48% (4) Issued subordinated debt. Carrying value net of issuance costs of $24.5 million at December 31, 2018. Initial rate of 6.00% per annum. Subsequent rate adjusts quarterly at the rate of three month LIBOR plus 3.02% On December 6, 2018, $25,000,000 in aggregate principal amount of 6.00% Fixed-to-Floating Rate Subordinated Notes due December 6, 2028. 100% The Notes have been structured to qualify initially as Tier 2 capital for regulatory capital purposes. The Note will initially bear interest at a rate of 6.00% per annum from an including December 6, 2018, to but excluding December 6, 2023, with interest during this period payable semi-annually in arrears. From an including December 6, 2023, to but excluding the maturity date or early redemption date, the interest rate will reset quarterly to an annual floating rate equal to three-month LIBOR, plus 302 basis points, with interest during this period payable quarterly in arrears. The Notes are redeemable by the Company at its option, in whole or in part, on or after December 6, 2023. As a part of the acquisition of Patapsco Bancorp, Inc. (“Patapsco Bancorp”) in 2015, Bancorp assumed debt originally issued by Patapsco Bancorp. In 2005 Patapsco Statutory Trust I, a Connecticut statutory business trust and an unconsolidated wholly-owned subsidiary of Patapsco issued $5 million of capital trust pass-through securities to investors. 1.48%. $5,155,000 December 31, 2035. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 14: Income Taxes Federal and state income tax expense (benefit) consists of the following for the years ended: December 31, (in thousands) 2018 2017 2016 Current federal income tax $ - $ 3,243 $ 4,171 Current state income tax - 1,038 (6 ) Deferred federal income tax (627 ) (968 ) (1,153 ) Deferred state income tax (270 ) (161 ) (76 ) Total income tax expense (benefit) $ (897 ) $ 3,152 $ 2,936 A reconciliation of the statutory federal income tax (benefit) expense to the Company’s effective tax (benefit) rate for the years ended follows: December 31, (in thousands) 2018 2017 2016 Statutory federal income tax (benefit) expense $ (992 ) $ 3,520 $ 2,801 State income taxes, net of federal income tax expense (213 ) 579 511 Bank owned life insurance (162 ) (258 ) (212 ) Acquisition related costs 316 115 - Revalue of deferred taxes - 268 - Correction of error - (675 ) - Other, net 154 (397 ) (164 ) Total income tax (benefit) expense $ (897 ) $ 3,152 $ 2,936 The Company’s income tax benefit for 2018 was the result of the loss incurred for the year in contrast to the reported pre-tax book income and the associated income tax expense recognized for 2017. The benefit for 2018 was reduced by the impact of various merger-related non-deductible costs. Income tax expense for 2017 was adversely impacted by the adjustment of the Company’s deferred tax assets and liabilities related to the reduction in the U.S. federal statutory income tax rate to 21% under the Tax Cuts and Jobs Act. As a result of the new law, which is more fully discussed below, we recognized a net tax expense totaling $268 thousand. Income tax expense for 2017 was also impacted by a correction of an overstatement of taxes that resulted from incorrectly classifying certain acquired loan fair value adjustments on purchased credit impaired loans. As a result, for the year 2017, the Company recognized tax benefits totaling $675 thousand related to the 2015 through 2016 tax years. The following table is a summary of the tax effect of temporary differences that give rise to a significant portion of deferred tax assets and liabilities: December, 31 (in thousands) 2018 2017 Deferred tax assets: Net operating losses $ 35,415 $ 700 Allowance for credit losses 2,717 1,695 Valuation on foreclosed real estate 617 851 Supplemental executive benefit plans 782 372 Stock-based compensation 29 74 Deferred loan fees and costs, net 576 15 Unrealized loss on securities - 124 Net fair value of acquired assets 4,007 - Depreciation and amortization 276 - Other assets 605 283 Total deferred tax assets 45,024 4,114 Deferred tax liabilities: Other net liabilities acquired 4,827 2,443 Bank owned life insurance 4,802 - Unrealized gain on securities 110 - Net fair value of acquired liabilities - 629 Depreciation and amortization - 229 Total deferred tax liabilities 9,739 3,301 Net deferred tax assets $ 35,285 $ 813 Based on management’s belief that it is more likely than not that all net deferred tax assets will be realized, there was no valuation allowance at either December 31, 2018 or 2017. The Company’s operating loss for the year ended December 31, 2018 generated a federal tax net operating loss of $8.5 million which may be carried forward indefinitely subject to a maximum annual limitation of 80% of taxable income. As part of the Company’s recent acquisitions, the Company assumed federal tax net operating loss carryforwards. As of December 31, 2018 and 2017, the remaining balance of those net operating loss carryforwards totaled approximately $123.8 million and $2.5 million, respectively. The acquired loss carryforwards can be deducted annually from future taxable income through 2038, subject to various annual limitations. Currently, tax years ending after December 31, 2014 are considered as open for examination by federal and state taxing authorities. Tax Cuts and Jobs Act. As stated above, as a result of the enactment of the Tax Cuts and Job Act, we re-measured our deferred tax assets and liabilities based upon the newly enacted U.S. statutory federal income tax rate of 21%, which is the tax rate at which assets and liabilities are expected to reverse in the future. Nonetheless, for the year 2017 we recognized a tax expense related to the re-measurement of our deferred tax asset and liabilities totaling $268 thousand. |
Related Party Loans and Deposit
Related Party Loans and Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 15: Related Party Loans and Deposits In the normal course of business, loans are made to officers and directors of the Company, as well as to their related interests. In the opinion of management, these loans are consistent with sound banking practices, are within regulatory lending limitations and do not involve more than the normal risk of collectability. Total outstanding balances to the Company’s executive officers, directors and their related interests are presented below. December 31, (in thousands) 2018 2017 Balance January 1 $ 19,297 $ 20,260 Additions 9,347 9,097 Change in status (11,412 ) (747 ) Repayments (10,014 ) (9,313 ) Balance December 31 $ 7,218 $ 19,297 In addition to the outstanding balances above, total unfunded commitments to these parties at December 31, 2018 and December 31, 2017 were $21.7 million and $18.5 million, respectively. The Bank also routinely enters into deposit relationships with its officers and directors in the normal course of business. These deposit accounts bear the same terms and conditions for comparable deposit accounts of unrelated parties and totaled $52.0 million at December 31, 2018 and $12.2 million at December 31, 2017. |
Financial Instruments with Off-
Financial Instruments with Off-Balance Sheet Risk and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Risks and Uncertainties [Abstract] | |
Financial Instruments With Off Balance Sheet Risk [Text Block] | Note 16: Financial Instruments with Off-Balance Sheet Risk and Contingencies The Company is a party to financial instruments with off-balance sheet risk in the normal course of business. These financial instruments may include commitments to extend credit, standby letters of credit and purchase commitments. The Company uses these financial instruments to meet the financing needs of its customers. Financial instruments involve, to varying degrees, elements of credit, interest rate, and liquidity risk. These do not represent unusual risks, and management does not anticipate any losses which would have a material effect on the accompanying financial statements. Outstanding loan commitments and lines and letters of credit are as follows: December 31, (in thousands) 2018 2017 Unfunded loan commitments $ 104,466 $ 81,074 Unused lines of credit 282,822 138,526 Letters of credit 16,661 10,839 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. The Company generally requires collateral to support financial instruments with credit risk on the same basis as it does for on-balance sheet instruments. The collateral is based on management’s credit evaluation of the counterparty. Commitments have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. Each customer’s credit-worthiness is evaluated on a case-by-case basis. Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. In the normal course of its business, the Company is involved in litigation arising from banking, financial, and other activities it conducts. Management, after consultation with legal counsel, does not anticipate that the ultimate liability, if any, arising out of these matters will have a material effect on the Company’s financial condition, operating results or liquidity. |
Stock Options and Stock Awards
Stock Options and Stock Awards | 12 Months Ended |
Dec. 31, 2018 | |
Stock Options Awards and Warrants [Abstract] | |
Stock Options Awards and Warrants [Text Block] | Note 17: Stock Options and Stock Awards Bancorp’s equity incentive plan provides for awards of nonqualified and incentive stock options as well as vested and non-vested common stock awards. As of December 31, 2018, 621,766 shares are reserved for issuance pursuant to future grants under our stock incentive plan. 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 and typically vest over a three year period. 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 Company’s board of directors (the “Board of Directors” or “Board”) as compensation for attendance and participation at meetings of the Board of Directors and meetings of the various committees of the Board. In 2018, 2017 and 2016, Bancorp issued 11,868, 11,404 and 7,241 shares of common stock, respectively, to directors as compensation for their service. The fair value of Bancorp’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 in 2018, 2017 or 2016. The valuation of Bancorp’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 Bancorp’s stock option activity and related information for the years ended: December 31, 2018 2017 2016 Weighted Weighted Weighted Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Balance at January 1, 30,991 $ 9.69 123,593 $ 12.36 137,463 $ 12.30 Granted - - - - - - Exercised (9,123 ) 10.63 (27,113 ) 11.67 (3,020 ) 11.64 Forfeited (6,600 ) 10.52 (65,489 ) 13.92 (10,850 ) 11.77 Balance at period end 15,268 $ 8.76 30,991 $ 9.69 123,593 $ 12.36 Exercisable at period end 15,268 $ 8.76 30,991 $ 9.69 123,593 $ 12.36 Weighted average fair value of options granted during the year $ - $ - $ - The cash received from the exercise of stock options during 2018, 2017 and 2016 was $97 thousand, $316 thousand and $35 thousand, respectively. 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 $14.30 on December 31, 2018 the options outstanding had an aggregate intrinsic value of $85 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. At December 31, 2016, based upon fair market value of $15.10, the outstanding options outstanding had an aggregate intrinsic value of $338 thousand. The outstanding stock options as of December 31, 2018 have contractual terms that permit exercise of the options through 2019. 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 after achieving required performance milestones or upon remaining with the employer for a particular length of time. Each RSU that vests entitles the recipient to receive one share of Bancorp common stock on a specified issuance date. The recipient does not have any stockholder rights, including voting, dividend or liquidation rights, with respect to the shares underlying awarded RSUs until the recipient becomes the record holder of those shares. Bancorp granted 20,732 RSUs during 2018, subject to a three-year vesting schedule. During 2017, 18,500 RSUs were granted, all of which are subject to a three-year vesting schedule. The 27,000 RSUs awarded in 2016 also are subject to a three-year vesting schedule; they only vest, however, if certain annual performance measures are satisfactorily achieved. A summary of the activity for Bancorp’s RSUs for the periods indicated is presented in the following table: December 31, 2018 2017 2016 Weighted Weighted Weighted Average Average Average Grant Date Grant Date Grant Date Shares Fair Value Shares Fair Value Shares Fair Value Balance at January 1, 52,155 $ 15.09 65,491 $ 13.23 74,828 $ 13.21 Granted 20,732 19.90 18,500 17.41 27,000 12.91 Vested (54,542 ) 16.63 (31,836 ) 12.60 (17,838 ) 12.95 Forfeited (8,614 ) 14.41 - - (18,499 ) 12.96 Balance at period end 9,731 $ 17.29 52,155 $ 15.09 65,491 $ 13.23 At December 31, 2018, based on RSU awards outstanding at that time, the total unrecognized pre-tax compensation expense related to unvested RSU awards was $114 thousand. Based upon the contractual terms, this expense is expected to be recognized as follows: (in thousands) 2019 $ 84 2020 30 $ 114 Stock-Based Compensation Expense: Stock-based compensation is recognized as compensation cost in the statement of operations based on their fair values on the measurement date, which, for the Company, is the date of the grant. 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: For the year ended December 31, (in thousands) 2018 2017 2016 Stock-based compensation expense Related to the issuance of restricted stock and RSUs $ 656 $ 490 $ 239 Director compensation paid in stock $ 217 $ 205 $ 160 |
Benefit Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2018 | |
Profit Sharing Plan [Abstract] | |
Profit Sharing Plan [Text Block] | Note 18: 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 $1.1 million, $766 thousand and $575 thousand, respectively, for the years ended December 31, 2018, 2017 and 2016. 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 2016. Under defined benefit SERP, Mary Ann 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 SERP totaled $279 thousand, $275 thousand and $243 thousand for 2018, 2017 and 2016, respectively. The accrued liability recorded for this SERP was $1.5 million and $1.2 million as of December 31, 2018 and December 31, 2017, respectively. Employee Stock Purchase Plan The 2017 to purchase shares of the Company’s common stock. The Plan was approved by the Company’s shareholders on December 27, 2017. An aggregate of 250,000 shares of was approved for to qualify as an “employee stock purchase plan” as defined in Section 423 of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder, and shall be interpreted consistent therewith. The first offering period under this plan commenced on October 01, 2018, and the expense related to the Plan totaled $11 thousand for 2018. |
Income per Common Share
Income per Common Share | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 19: Income per Common Share The table below shows the presentation of basic and diluted income per common share for the years ended: December 31, (dollars in thousands, except per share data) 2018 2017 2016 Net (loss) income $ (3,828 ) $ 7,200 $ 5,303 Preferred stock dividends - - (166 ) Net income available to common stockholders (numerator) $ (3,828 ) $ 7,200 $ 5,137 BASIC Basic average common shares outstanding (denominator) 17,556,554 9,555,952 6,975,662 Basic (loss) income per common share $ (0.22 ) $ 0.75 $ 0.74 DILUTED Average common shares outstanding 17,556,554 9,555,952 6,975,662 Dilutive effect of common stock equivalents - 40,852 23,320 Diluted average common shares outstanding (denominator) 17,556,554 9,596,804 6,998,982 Diluted (loss) income per common share $ (0.22 ) $ 0.75 $ 0.73 Because the Company reported a loss for 2018 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 14,740 - - Common stock equivalents outstanding that are anti-dilutive and thus excluded from calculation of diluted number of shares presented above - - 74,051 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 20: Regulatory Matters In July 2013, 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, 2016, 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, the rules include a capital conservation buffer that phases in over a period of years that began in 2017 and will become fully effective in 2019. Failure to satisfy any of the capital requirements, including with the applicable “buffer” amount, will result in limits on paying dividends, engaging in share repurchases and paying discretionary bonuses. The rules establish a maximum percentage of eligible retained income that could be utilized for such actions if the capital requirements of the buffer are not fully satisfied. 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 three main categories of capital under the regulatory capital guidelines. Common equity tier 1 capital consists of paid-in common stock, retained earnings and certain common equity Tier 1 minority interests. Various items, including certain amounts of goodwill, intangible assets, deferred tax assets, must be deducted from common equity Tier 1 before capital ratios are calculated. Tier 1 capital (which, tougher with common equity tier 1 capital, makes up Tier 1 capital) generally consists of perpetual preferred stock and, in certain circumstances and subject to certain limitations, minority investments in certain subsidiaries, less goodwill and other non-qualifying intangible assets, and certain other deductions. Tier 2 capital consists of perpetual preferred stock that is not otherwise eligible to be included as Tier 1 capital, hybrid capital instruments, term subordinated debt and intermediate-term preferred stock and, subject to limitations, general allowances for credit losses. At least half of total capital must consist of Tier 1 capital. Accumulated other comprehensive income (positive or negative) must be reflected in regulatory 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 December 31, 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 as of December 31, 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 December 31, 2018: Total capital (to risk-weighted assets) Howard Bank $ 212,099 11.80 % $ 143,810 8.00 % $ 179,762 10.00 % Howard Bancorp $ 218,425 12.14 % $ 143,889 8.00 % N/A Common equity tier 1 capital (to risk-weighted assets) Howard Bank $ 202,226 11.25 % $ 80,893 4.50 % $ 116,846 6.50 % Howard Bancorp $ 179,935 10.00 % $ 80,938 4.50 % N/A Tier 1 capital (to risk-weighted assets) Howard Bank $ 202,226 11.25 % $ 107,857 6.00 % $ 143,810 8.00 % Howard Bancorp $ 179,935 10.00 % $ 107,917 6.00 % N/A Tier 1 capital (to average assets) (Leverage ratio) Howard Bank $ 202,226 9.84 % $ 82,212 4.00 % $ 102,765 5.00 % Howard Bancorp $ 179,935 8.77 % $ 82,046 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 |
Preferred Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Preferred Stock [Text Block] | Note 21: Preferred Stock On September 22, 2011, Bancorp entered into a Securities Purchase Agreement with the Secretary of the Treasury, pursuant to which Bancorp issued and sold to the Treasury 12,562 shares of its Senior Non-Cumulative Perpetual Preferred Stock, Series AA, having a liquidation preference of $1,000 per share, for aggregate proceeds of $12,562,000. The issuance was pursuant to the SBLF program, a $30 billion fund established under the Small Business Jobs Act of 2010, which encourages lending to small businesses by providing capital to qualified community banks with assets of less than $10 billion. The Series AA Preferred Stock holders were entitled to receive non-cumulative dividends payable quarterly on each January 1, April 1, July 1 and October 1, beginning October 1, 2011. The dividend rate was initially set at 5% per annum and thereafter was set based upon the percentage change in qualified lending between each dividend period and the baseline “Qualified Small Business Lending” level established at the time the agreement was entered into. Such dividend rate could vary from 1% per annum to 5% per annum for the second through tenth dividend periods and from 1% per annum to 7% per annum for the eleventh through the eighteenth dividend periods and through March 22, 2017 with respect to the nineteenth dividend period. If the Series AA Preferred Stock remained outstanding for more than four-and-one-half years, the dividend rate was fixed at 9%. As of March 22, 2016, the dividend rate was fixed at 9%. Such dividends were not cumulative, but Bancorp could only declare and pay dividends on its common stock (or any other equity securities junior to the Series AA Preferred Stock) if it had declared and paid dividends for the current dividend period on the Series AA Preferred Stock, and was subject to other restrictions on its ability to repurchase or redeem other securities. In addition, if Bancorp had not timely declared and paid dividends on the Series AA Preferred Stock for six dividend periods or more, whether or not consecutive, the Treasury (or any successor holder of Series AA Preferred Stock) could have designated a representative to attend all meetings of the Board of Directors in a nonvoting observer capacity and Bancorp would have been required to give such representative copies of all notices, minutes, consents and other materials that Bancorp provided to its directors in connection with such meetings. On May 6, 2016, after receiving all required regulatory approvals, Bancorp redeemed the 12,562 shares of Series AA Preferred Stock for $12,562,000 in accordance with its terms. Bancorp used the proceeds of a $12,562,000 term loan with Raymond James Bank, N.A. to fund the redemption of the Series AA Preferred Stock. This debt was repaid on February 1, 2017. |
Fair Value
Fair Value | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 22: 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 Except for one privately held equity investment, all other 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, proprietary models, descriptive terms and conditions databases, and quality control programs. The privately held equity investment utilizes peer market information to estimate the unobservable inputs and then these inputs are applied to the asset. 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 80 percent to 90 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 or disclosed at fair value on a recurring basis at December 31, 2018 and December 31, 2017. December 31, 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) Assets Available for sale securities: U.S. Government agencies $ 130,397 $ - $ 130,397 $ - Mortgage-backed securities 90,460 - 90,460 - Other investments 3,001 - 3,001 - Loans held for sale 21,261 - 21,261 - Loans held for investment 1,303 - 1,303 - Rate lock commitments 126 - - 126 Interest rate swap assets 100 - 100 - Liabilities Interest rate swap liabilities 106 - 106 - 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: December 31, December 31, 2018 2017 Balance, beginning of period $ 530 $ 528 Privately held equity investment (72 ) 79 Net gains (losses) included in realized and unrealized gains on mortgage banking activity in noninterest income (332 ) (77 ) Balance, end of period $ 126 $ 530 Assets under fair value option: December 31, 2018 Carrying Aggregate Fair Value Unpaid (in thousands) Amount Principal Difference Loans held for sale $ 21,261 $ 20,785 $ 476 Loans held for investment 1,303 1,342 (39 ) 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 the allowance for credit losses. Values are derived from appraisals of underlying collateral and discounted cash flow analysis. There were valuation losses of $352 thousand recognized for the year ended December 31, 2018 and $581 thousand recognized for the year ended December 31, 2017. These charges were for declines in the value of OREO subsequent to foreclosure. OREO is classified within Level 3 of the hierarchy. Net (loss)/gain from the changes included in earnings in fair value of loans held for sale was $(181) thousand, $62 thousand, and $69 thousand at December 31, 2018, 2017 and 2016, respectively. Net (loss)/gain from the changes included in earnings in fair value of loans held for investment was $(71) thousand and $247 thousand at December 31, 2018 and 2017 respectively. There were no loans held for investment in 2016 accounted for at fair value. 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 as of December 31, 2018 and December 31, 2017. December 31, 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 $ 4,392 $ - $ - $ 4,392 Impaired loans: Construction and land 1,449 - - 1,449 Residential - first lien 13,259 - - 13,259 Residential - junior lien 1,137 - - 1,137 Commercial - owner occupied 1,268 - - 1,268 Commercial - non-owner occupied 2,823 - - 2,823 Commercial loans and leases 2,255 - - 2,255 Consumer 174 - - 174 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 December 31, 2018 OREO consisted of an outstanding balance of $6.6 million, less valuation allowance of $2.2 million. At December 31, 2017, OREO consisted of an outstanding balance of $4.6 million, less valuation allowance of $3.1 million. Related allowance on impaired loans for the years ended December 31, 2018 and 2017 were $2.4 million and $910 thousand, respectively. Various techniques are used to value OREO and impaired loans. All loans where 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. The following table presents the estimated fair value of the Company’s financial instruments at the dates indicated: December 31, 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 $ 223,858 $ 223,858 $ - $ 223,858 $ - Held to maturity securities 9,250 9,253 - - 9,253 Nonmarketable equity securities 11,786 11,786 - 11,786 - Loans held for sale 21,261 21,261 - 21,261 - Loans held for investment 1,303 1,303 - 1,303 - Rate lock commitments 126 126 - - 126 Loans and leases 1 1,638,575 1,613,506 - - 1,613,506 Interest rate swap 100 100 - 100 - Financial Liabilities Deposits 1,685,806 1,681,295 - 1,681,295 - Short-term borrowings 134,576 134,576 - 134,576 - Long-term borrowings 142,077 142,296 - 142,296 - Interest rate swap 106 106 - 106 - 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 December 31, 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 | 12 Months Ended |
Dec. 31, 2018 | |
Revenue Recognition [Abstract] | |
Revenue from Contract with Customer [Text Block] | Note 23: 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 twelve months ended: December 31, (in thousands) 2018 2017 2016 NONINTEREST INCOME Service charges on deposit accounts $ 595 $ 239 $ 165 Fees and other services charges 2,404 954 813 Other 70 57 58 Noninterest income in scope of Topic 606 3,069 1,250 1,036 Noninterest income out of scope of Topic 606 14,791 18,274 13,760 Total noninterest income $ 17,860 $ 19,524 $ 14,796 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 December 31, 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. |
Parent Company Financial Inform
Parent Company Financial Information | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 24: Parent Company Financial Information The condensed financial statements for Bancorp (Parent Only) are presented below: Howard Bancorp, Inc. Balance Sheets December 31, (in thousands) 2018 2017 ASSETS Cash and cash equivalents $ 6,843 $ 15,699 Investment in subsidiaries 316,771 121,374 Other assets 293 - Total assets $ 323,907 $ 137,073 LIABILITIES Short-term borrowings $ 972 $ 817 Long-term borrowings 28,077 3,535 Other liabilities 175 468 Total liabilities 29,224 4,820 SHAREHOLDERS' EQUITY Common stock-par value of $0.01 authorized 20,000,000 shares; issued and outstanding 19,039,347 shares at December 31, 2018 and 9,820,592 at December 31, 2017 190 98 Capital surplus 275,843 110,387 Retained earnings 18,277 22,105 Accumulated other comprehensive 373 (337 ) Total shareholders’ equity 294,683 132,253 Total liabilities and shareholders’equity $ 323,907 $ 137,073 Statements of Operations December 31, (in thousands) 2018 2017 2016 INTEREST INCOME Interest on securities $ - $ - $ 1 Other interest income 1 - - INTEREST EXPENSE Short-term borrowings 6 49 300 Long-term borrowings 376 216 196 NET INTEREST EXPENSE (381 ) (265 ) (495 ) NONINTEREST INCOME Gain on the sale of securities - - 96 NONINTEREST EXPENSE Compensation and benefits 268 490 306 Other operating expense 42 73 192 Total noninterest expense 310 563 498 Loss before income tax and equity in undistributed income of subsidiary (691 ) (828 ) (897 ) Income tax benefit (176 ) (349 ) (305 ) Loss before equity in undistributed income of subsidiary (515 ) (479 ) (592 ) Equity in undistributed income of subsidiary (3,313 ) 7,679 5,895 Net income (loss) $ (3,828 ) $ 7,200 $ 5,303 Preferred stock dividends - - 166 Net income available to common shareholders $ (3,828 ) $ 7,200 $ 5,137 Statements of Cash Flows Year Ended December 31, (in thousands) 2018 2017 2016 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (3,828 ) $ 7,200 $ 5,303 Adjustments to reconcile net income (loss) to net cash from operating activities: Deferred income taxes (benefits) (117 ) (115 ) (60 ) Share-based compensation 873 695 399 Gain on sales of securities - (96 ) Equity in undistributed 3,313 (7,679 ) (5,895 ) (Increase) decrease in other assets (293 ) 40 101 Increase (decrease) in other liabilities (176 ) 84 (2 ) Net cash (used in) provided by operating activities (228 ) 225 (250 ) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from sale of investment securities available-for-sale - - 196 Cash paid for acquisition (9,245 ) - - Investment in subsidiary (24,177 ) (23,000 ) - Net cash (used in) provided by investing activities (33,422 ) (23,000 ) 196 CASH FLOWS FROM FINANCING ACTIVITIES: Net (decrease) increase increase in short-term borrowings 155 (12,542 ) 12,468 Proceeds from issuance of long-tern debt 24,542 82 82 Net proceeds from issuance of common stock, net of cost 97 38,699 35 Redemption of preferred stock - - (12,562 ) Cash dividends on preferred stock - - (166 ) Net cash provided by (used in) financing activities 24,794 26,239 (143 ) Net increase (decrease) in cash and cash equivalents (8,856 ) 3,464 (197 ) Cash and cash equivalents at beginning of period 15,699 12,235 12,432 Cash and cash equivalents at end of period $ 6,843 $ 15,699 $ 12,235 |
Quarterly Financial Results (un
Quarterly Financial Results (unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | Note 25: Quarterly Financial Results (unaudited) The following table provides a summary of selected consolidated quarterly financial data for the years ended December 31, 2018 and December 31, 2017: 2018 Fourth Third Second First (in thousands, except share data.) Quarter Quarter Quarter Quarter Interest income $ 22,428 $ 22,436 $ 21,165 $ 14,360 Interest expense 4,485 3,789 3,285 2,212 Net interest income 17,943 18,647 17,880 12,148 Provision for loan losses 2,850 696 1,425 1,120 Noninterest income 3,683 3,856 5,617 4,704 Noninterest expense 18,425 16,396 25,140 23,151 Net income before income taxes 351 5,411 (3,068 ) (7,419 ) Income (benefit) tax expenses 206 1,432 (791 ) (1,744 ) Net income available to common shareholders $ 145 $ 3,979 $ (2,277 ) $ (5,675 ) Net income per common share, basic $ 0.01 $ 0.21 $ (0.12 ) $ (0.43 ) Net income per common share, diluted $ 0.01 $ 0.21 $ (0.12 ) $ (0.43 ) Average common shares outstanding 19,035,316 19,025,855 19,002,851 13,080,614 Diluted average common shares outstanding 19,041,880 19,035,192 19,002,851 13,080,614 2017 Fourth Third Second First (in thousands, except share data.) Quarter Quarter Quarter Quarter Interest income $ 11,338 $ 11,112 $ 10,708 $ 9,868 Interest expense 1,482 1,357 1,211 1,117 Net interest income 9,856 9,755 9,497 8,751 Provision for loan losses 800 491 340 200 Noninterest income 4,669 5,085 5,311 4,459 Noninterest expense 11,848 11,618 11,234 10,500 Net income before income taxes 1,877 2,731 3,234 2,510 Income tax expenses (6 ) 1,018 1,196 944 Net incomeavailable to common shareholders $ 1,883 $ 1,713 $ 2,038 $ 1,566 Net income per common share, basic $ 0.19 $ 0.17 $ 0.21 $ 0.18 Net income per common share, diluted $ 0.19 $ 0.17 $ 0.21 $ 0.18 Average common shares outstanding 9,815,228 9,808,542 9,779,772 8,806,404 Diluted average common shares outstanding 9,858,809 9,854,822 9,822,165 8,856,763 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 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” or the “Company”) acquired all of the stock and became the holding company of Howard Bank (the “Bank”) pursuant to the Plan of Reorganization approved by the stockholders 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 stockholders of the Bank became the stockholders of Bancorp. The Bank has nine subsidiaries, six of which are intended to hold foreclosed real estate (three of which currently hold properties) and two of the others own and manages real estate that is used as office and branch locations. The accompanying consolidated financial statements of Bancorp and its wholly-owned subsidiary 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 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”). On May 6, 2016, Bancorp redeemed all of the 12,562 shares of the Series AA Preferred Stock that it had previously issued to the U.S. Department of the Treasury (the “Treasury”) under its Small Business Lending Fund (“SBLF”) program. $12.7 The redemption of the Series AA Preferred Stock was funded with variable rate debt with Raymond James Bank, N.A. This debt matured one year from commencement, with interest only payments based upon 30 day plus 300 basis points. On February 1, 2017, Bancorp closed an underwritten public offering, the exercise in full by the underwriters to purchase an additional 360,000 shares, at the public offering price of $15.00 per share. The amount of gross proceeds raised in this offering was approximately $41.4 million, after underwriting discounts and offering was $38.4 million. On March 1, 2018, Bancorp completed its previously announced merger (the “First Mariner merger”) with First Mariner Bank, a Maryland chartered trust company (“First Mariner”), pursuant to the Agreement and Plan of Reorganization dated as August 14, 2017, and as amended by Amendment No. 1 on November 8, 217, by and among Bancorp, the Bank and First Mariner (as amended, the “First Mariner Merger Agreement”). At the effective time of the First Mariner merger, First Mariner merged with and into the Bank, with the Bank continuing as the surviving bank of the First Mariner merger and a wholly owned subsidiary of the Company. At the effective time of the Merger, 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, provided that cash was paid in lieu of any fractional shares. The aggregate merger consideration of $173.8 million included $9.2 million of cash and 9,143,222 shares of our common stock, which was valued at approximately $164.6 million based on Bancorp’s closing stock price of $18.00 on February 28, 2018. On December 6, 2018, $25,000,000 in aggregate principal amount of 6.00% Fixed-to-Floating Rate Subordinated Notes due December 6, 2028 (the “Notes”). The Notes were issued by the Company to the Purchasers at a price equal to 100% of their face amount in a private offering in reliance on the exemptions from registration available under Section 4(a)(2) of the Securities Act of 1933, 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. 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. The parent company only financial statements report investments in the subsidiary bank under the equity method. |
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, goodwill, deferred tax assets, other-than-temporary impairment of investment securities and the fair value of loans held for sale. |
Segment Reporting, Policy [Policy Text Block] | Segment Information The Company has one reportable segment, “Community Banking.” All of the Company’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Company supports the others. For example, lending is dependent upon the ability of the Bank to fund itself with deposits and other borrowings and manage interest rate and credit risk. Accordingly, all significant operating decisions are based upon analysis of the Company as one segment or unit. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include cash on hand, amounts due from banks, cash items in the process of clearing, federal funds sold, and interest-bearing deposits with banks with original maturities of less than 90 days. Generally, federal funds are sold as overnight investments. |
Investment Securities, Policy [Policy Text Block] | Investment Securities Debt securities not classified as held-to-maturity are classified as available-for-sale. Investments held-to-maturity represents securities that the Company has both intent and ability to hold until maturity. Securities available-for-sale are acquired as part of the Bank's asset/liability management strategy and may be sold in response to changes in interest rates, loan demand, changes in prepayment risk and other factors. Securities available-for-sale are carried at estimated fair value, with unrealized gains or losses based on the difference between amortized cost and fair value reported as accumulated other comprehensive income (loss), net of deferred taxes, a separate component of stockholders’ equity, when appropriate. Realized gains and losses, using the specific identification method, are included as a separate component of noninterest income. Related interest and dividends are included in interest income. Held-to-maturity investments premiums and discounts are amortized to interest income using the effective interest method. Declines in the fair value of individual securities below their amortized cost that are other than temporary result in write-downs of the individual securities to their fair value. Factors affecting the determination of whether an other-than-temporary impairment has occurred include a downgrading of the security by a rating agency, a significant deterioration in the financial condition of the issuer, or that management would not have the intent and ability to hold a security for a period of time sufficient to allow for any anticipated recovery in fair value or that management would be required to sell the security before recovery in fair value. |
Nonmarketable Equity Securities [Policy Text Block] | Nonmarketable Equity Securities Nonmarketable equity securities include equity securities that are not publicly traded or are held to meet regulatory requirements such as These securities are accounted for at cost. As of December 31, 2018 and 2017 none of the non-marketable equity securities were considered impaired. Due to redemptive provisions of the |
Marketable Securities, Policy [Policy Text Block] | Marketable Equity Securities Marketable equity securities are carried at estimated fair value based on quoted prices. Effective January 1, 2018, changes in fair value of marketable equity securities are recognized in net income. At December 31, 2018, marketable equity securities amounted to $3.7 million and are included in interest receivable and other assets caption of the consolidated balance sheet. At December 31, 2017, marketable equity securities totaled $2.5 million and were included with available-for-sale securities with unrealized losses excluded from net income and reported in accumulated other comprehensive income (loss). |
Derivatives, Policy [Policy Text Block] | Derivative Instruments and Hedging Activity The Company’s risk management strategy incorporates the use of interest rate swap contracts that help in managing interest rate risk within the loan portfolio. These derivatives not designated as hedges and are not speculative, and result from a service the Company provides to certain customers. During 2018, the Company entered into an interest rate swap transaction. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. By using derivative instruments, the Company is exposed to credit and market risk. If the counterparty fails to perform, credit risk is equal to the fair value gain in a derivative. When the fair value of a derivative contract is positive, this situation generally indicates that the counterparty is obligated to pay the Company, and, therefore, creates a repayment risk for the Company. When the fair value of a derivative contract is negative, the Company is obligated to pay the counterparty and therefore, has no repayment risk. The Company minimizes the credit risk in derivative instruments by entering into transactions with high-quality counterparties that are reviewed periodically by the Company. The Company’s derivative activities are monitored by its Asset-Liability Management Committee as part of that committee's oversight of the Company’s asset/liability and treasury functions. The Company’s Asset-Liability Management Committee is responsible for implementing various hedging strategies that are developed through its analysis of data from financial simulation models and other internal and industry sources. The resulting hedging strategies are then incorporated into the overall interest-rate risk management process. The Company recognizes the fair value of derivatives as assets or liabilities in the financial statements. The accounting for the changes in the fair value of a derivative depends on the intended use of the derivative instrument at inception. The change in fair value of the effective portion of cash flow hedges is accounted for in other comprehensive income rather than net income. Changes in fair value of derivative instruments that are not intended as a hedge are accounted for in the net income in the period of the change (see Derivatives and Hedging Activities footnote for further disclosure). |
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. |
Loans and Leases Receivable, Lease Financing, Policy [Policy Text Block] | Loans and Leases Loans are stated at their principal balance outstanding, plus deferred origination costs, less unearned discounts and deferred origination fees. Interest on loans is credited to income based on the principal amounts outstanding. Origination fees and costs are amortized to income over the contractual life of the related loans. Generally, accrual of interest on a loan is discontinued when the loan is delinquent more than 90 days unless the collateral securing the loan is sufficient to liquidate the loan. All interest accrued but not collected for loans that are placed on non-accrual or charged-off is reversed against interest income. Interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. Management considers loans impaired when, based on current information, it is probable that the Company will not collect all principal and interest payments according to contractual terms. Loans are tested for impairment no later than when principal or interest payments become 90 days or more past due and they are placed on non-accrual. Management also considers the financial condition of the borrower, cash flows of the loan and the value of the related collateral. Impaired loans do not include large groups of smaller balance homogeneous loans such as residential real estate and consumer installment loans which are evaluated collectively for impairment. Loans specifically reviewed for impairment are not considered impaired during periods of “minimal delay” in payment (90 days or less) provided eventual collection of all amounts due is expected. The impairment of a loan may be measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or the fair value of the collateral if repayment is expected to be provided by the collateral. Generally, the Company’s impairment on such loans is measured by reference to the fair value of the collateral. Interest income on impaired loans is recognized on the cash basis. The segments of the Company’s loan portfolio are disaggregated to a level that allows management to monitor risk and performance. The commercial real estate (“CRE”) loan segment is further disaggregated into two classes; owner occupied loans and non-owner occupied loans. Non-owner occupied CRE loans, which include loans secured by non-owner occupied nonfarm nonresidential properties, generally have a greater risk profile than owner occupied CRE loans. The residential mortgage loan segment is further disaggregated into two classes: first lien mortgages and second or junior lien mortgages. |
Allowance For Loan Losses [Policy Text Block] | Allowance for Credit Losses The allowance for credit losses is maintained at a level believed adequate by management to absorb probable losses inherent in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, an assessment of individual problem loans, actual loss experience, current economic events in specific industries and geographic areas including unemployment levels and other pertinent factors including general economic conditions. Determination of the allowance is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogenous loans based on historical loss experience and consideration of economic trends, all of which may be susceptible to significant change. Credit losses are charged off against the allowance, while recoveries of amounts previously charged off are credited to the allowance. A provision for credit losses is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors. Evaluations are conducted at least quarterly and more often if deemed necessary. The allowance for credit losses consists of a specific component and a nonspecific component. The components of the allowance for credit losses represent an estimation done pursuant to either the Financial Accounting Standards Board’s (the “FASB”) Accounting Standards Codification (“ASC”) Topic 450 Contingencies or ASC Topic 310 Receivables . The specific component of the allowance for credit losses reflects expected losses resulting from analysis developed through credit allocations for individual loans. The credit allocations are based on a regular analysis of all loans over a fixed-dollar amount where the internal credit rating is at or below a predetermined classification. The specific component of the allowance for credit losses also includes management’s determination of the amounts necessary given concentrations and changes in portfolio mix and volume. The nonspecific portion of the allowance is determined based on management’s assessment of general economic conditions, as well as economic factors in the individual markets in which the Company operates including the strength and timing of economic cycles and concerns over the effects of a prolonged economic downturn in the current cycle. This determination inherently involves a higher risk of uncertainty and considers current risk factors that may not have yet manifested themselves in the Bank’s historical loss factors used to determine the nonspecific component of the allowance, and it recognizes knowledge of the portfolio may be incomplete. The Bank’s historic loss factors are based upon actual losses incurred by portfolio segment over the preceding 24-month period. In portfolio segments where no actual losses have been incurred within the most recent 24-month period, industry loss data for that portfolio segment, as provided by the are utilized. In addition to historic loss factors, the Bank’s methodology for the allowance for credit losses also incorporates other risk factors that may be inherent within the portfolio segments. For each portfolio segment, in addition to the historic loss experience, the other factors that are measured and monitored in the overall determination of the allowance include: changes in lending policies, procedures, practices or personnel; changes in the level and composition of construction portfolio and related risks; changes and migration of classified assets; changes in exposure to subordinate collateral lien positions; levels and composition of existing guarantees on loans by the changes in national, state and local economic trends and business conditions; changes and trends in levels of loan payment delinquencies; and any other factors that management considers relevant to the quality or performance of the loan portfolio. Each of these qualitative risk factors is measured based upon data generated either internally, or in the case of economic conditions utilizing independently provided data on items such as unemployment rates, commercial real estate vacancy rates, or other market data deemed relevant to the business conditions within the markets served. The Company’s loan policies state that after all collection efforts have been exhausted, and the loan is deemed to be a loss, then the remaining loan balance will be charged to the Company’s established allowance for credit losses. All loans are evaluated for loss potential once it has been determined by the Watch Committee that the likelihood of repayment is in doubt. When a loan is past due for at least 90 days or a deterioration in debt service coverage ratio, guarantor liquidity, or loan-to-value ratio has occurred that would cause concern regarding the likelihood of the full repayment of principal and interest, and the loan is deemed not to be well secured, the loan should be moved to non-accrual status and a specific reserve is established if the net realizable value is less than the principal value of the loan balance(s). Once the actual loss value has been determined a charge-off against the allowance for credit losses for the amount of the loss is taken. Each loss is evaluated on its specific facts regarding the appropriate timing to recognize the loss. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill, Other Intangible Assets and Long-Lived Assets Goodwill represents the excess of the purchase price over the sum of the estimated fair values of tangible and identifiable intangible assets acquired less the estimated fair value of the liabilities assumed. Core deposit intangibles represent the estimated value of long-term deposit relationships acquired in a business combination. The core deposit intangible is amortized over the estimated useful lives of the acquired long-term deposits acquired, and the remaining amounts of the core deposit intangible are periodically reviewed for impairment. Goodwill has an indefinite useful life and is evaluated for impairment annually or more frequently if events and circumstances indicate that the asset might be impaired. Long-lived assets are those that provide the company with a future economic benefit beyond the current year or operating period. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset is greater than the fair value of the asset. Assets to be disposed of are reported at the lower of the cost or the fair value, less costs to sell. An impairment analysis is performed annually. Management has determined that Bancorp has one reporting unit, and based upon the annual impairment analysis, it was determined that there was not an impairment of the carrying value of either the goodwill, core deposit intangible or other long-lived assets for 2018. |
Business Combinations Policy [Policy Text Block] | Business Combinations GAAP requires that the acquisition method of accounting, formerly referred to as the purchase method, be used for all business combinations and that an acquirer be identified for each business combination. Under GAAP, the acquirer is the entity that obtains control of one or more businesses in the business combination, and the acquisition date is the date the acquirer achieves control. GAAP requires that the acquirer recognize the fair value of assets acquired, liabilities assumed, and any non-controlling interest in the acquired entity at the acquisition date. |
Other Real Estate Owned Valuation Allowance [Policy Text Block] | Other Real Estate Owned Other real estate acquired through, or in lieu of, foreclosure is initially recorded at fair value less estimated cost to sell at the date of acquisition, establishing a new cost basis. Revenues and expenses from operations are included in noninterest income. Additions to the valuation allowance are included in noninterest expense. Subsequent to foreclosure, valuations are periodically performed by management and an allowance for losses is established, if necessary, by a charge to operations if the carrying value of a property exceeds its estimated fair value less estimated costs to sell. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization computed using the straight-line method. Premises and equipment are depreciated over the useful lives of the assets, which generally range from three to 10 years for furniture, fixtures and equipment and three to five years for computer software and hardware. Bank owned premises are depreciated over a range of 20 to 30 years. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. The costs of major renewals and betterments are capitalized, while the costs of ordinary maintenance and repairs are included in noninterest expense. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company uses the asset/liability method of accounting for income taxes. Under the asset/liability method, deferred tax assets and liabilities are determined based on differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities (i.e., temporary differences) and are measured at the enacted rates that will be in effect when these differences reverse. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. In addition, deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or the entire deferred tax asset will not be realized. The Company does not have uncertain tax positions that are deemed material, and did not recognize any adjustments for unrecognized tax benefits. The Company’s policy is to recognize interest and penalties on income taxes in other noninterest expenses. The Company remains subject to examination by federal and state taxing authorities for income tax returns for the years ending after December 31, 2015. |
Earnings Per Share, Policy [Policy Text Block] | Net Income Per Common Share Basic net income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the year. Diluted net income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the year including any potential dilutive effects of common stock equivalents, such as options and warrants. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-Based Compensation Compensation cost is recognized for stock options issued to directors and employees. Compensation cost is measured as the fair value of these awards on their date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options. Compensation cost is recognized over the required service period, generally defined as the vesting period for stock option awards. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. When an award is granted to an employee who is retirement eligible, the compensation cost of these awards is recognized over the period up to when the director or employee first becomes eligible to retire. Compensation expense for non-vested common stock awards is based on the fair value of the awards, which is generally the market price of the common stock on the measurement date, which, for the Company, is the date of grant, and is recognized ratably over the service period of the award. |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Off-Balance Sheet Financial Instruments In the ordinary course of business, the Company has entered into off-balance sheet financial instruments consisting of commitments to extend credit. Such financial instruments are recorded in the consolidated balance sheet when they are funded. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on securities available for sale, are reported as a separate component of the equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income. The Company’s sole component of accumulated other comprehensive income/loss is unrealized gains/losses on available for sale securities. |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfer of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. In certain cases, the recourse to the Bank to repurchase assets may exist but is deemed immaterial based on the specific facts and circumstances. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain reclassifications to 2017 and 2016 financial presentation were made to conform to the 2018 presentation. These reclassifications did not affect previously reported net income or total stockholders’ equity. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements The FASB has issued ASU 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (“SOFR”) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes. This ASU permits use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes. Alternative Reference Rates Committee “ARRC” has proposed that the SOFR is the rate that represents best practice as the alternative to derivatives currently indexed to LIBOR. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments should be adopted on a prospective basis for qualifying new or re-designated hedging relationships entered into on or after the date of adoption. The Company has non-designated hedge contracts that are indexed to LIBOR and is monitoring this activity and evaluating the related risks as they relate to derivatives. The FASB has issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework— Changes to the Disclosure Requirements for Fair Value Measurement. This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reason for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019; early adoption is permitted. Entities are also allowed to elect early adoption of the eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. ASU 2018-13 only revises disclosure requirements, it will not have a material impact on the Company’s Consolidated Financial Statements. The FASB has issued ASU 2018-11, Lease – Targeted Improvements. The ASU provide entities with relief from the cost of implementing certain aspects of the new leasing standard, ASU 2016-02. Specifically, under the amendments in ASU 2018-11: (1) Entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect not to separate leases and non-leases components when certain conditions are met. The amendments have the same effective date as ASU 2016-02, January 1, 2019. The Company has elected both options. ASU 2018-11 will not have a material impact on the Company’s Consolidated Financial Statements. 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. This will not 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 charges 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 FASB has issued ASU No. 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Liabilities . ASU No. 2016-01 requires equity investments to be measured at fair value with changes in fair value recognized in net income, excluding equity investments that are consolidated or accounted for under the equity method of accounting. The guidance allows equity investments without readily determinable fair values to be measured at cost minus impairment, with a qualitative assessment required to identify impairment. The guidance also: requires public companies to use exit prices to measure the fair value of financial instruments for disclosure purposes; requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements; and eliminates the disclosure requirements related to measurement assumptions for the fair value of instruments measured at amortized cost. In addition, the guidance requires that for liabilities measured at fair value under the fair value option, changes in fair value due to changes in instrument-specific credit risk be presented in other comprehensive income. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Adoption of ASU 2016-01 did not have a material impact on the Company’s Consolidated Financial Statements. 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 Notes to Consolidated Financial Statements “Revenue Recognition” for additional information. |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 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 $70.1 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 $ 38,889 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 120,049 Core deposit intangible 12,588 Total fair value of assets acquired $ 1,001,298 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: $ 103,729 Transaction consideration paid to First Mariner 173,823 Amount of goodwill recorded from First Mariner Acquisition $ 70,094 |
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 |
Business Acquisition Merger Related Cost [Table Text Block] | A summary of merger related costs included in the Consolidated Statements of Operations for the year ended December 31, 2018 is summarized as follows: Compensation related $ 9,871 Equipment disposition 1,918 Legal and consulting 2,005 Contract Terminations 677 Accounting & other 1,078 Total $ 15,549 |
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. December 31, 2018 2017 2016 Net interest income after provision $ 66,873 $ 59,626 $ 58,570 Noninterest income 19,890 29,285 24,557 Noninterest expense 77,699 80,721 74,787 Net income 6,569 1,315 2,732 Net income per share $ 0.35 $ 0.09 $ 0.18 |
Investments Securities (Tables)
Investments Securities (Tables) | 12 Months Ended |
Dec. 31, 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: December 31, (in thousands) 2018 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 $ 130,088 $ 428 $ 119 $ 130,397 $ 68,082 $ - $ 342 $ 67,740 Treasuries - - - - 1,505 - 11 1,494 Mortgage-backed 90,242 364 146 90,460 2,541 - 62 2,479 Other investments 3,011 - 10 3,001 2,579 - 36 2,543 $ 223,341 $ 792 $ 275 $ 223,858 $ 74,707 $ - $ 451 $ 74,256 Held to maturity Corporate debentures $ 9,250 $ 45 $ 42 $ 9,253 $ 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 December 31, 2018 and December 31, 2017 are presented below: December 31, 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 $ 3,049 $ 3 $ 13,887 $ 116 $ 16,936 $ 119 Mortgage-backed 26,197 54 2,107 92 28,304 146 Other investments 3,001 10 - - 3,001 10 $ 32,247 $ 67 $ 15,994 $ 208 $ 48,241 $ 275 Held to maturity Corporate debentures $ 2,458 $ 42 $ - $ - $ 2,458 $ 42 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 by contractual maturity are shown below: December 31, (in thousands) 2018 2017 Amortized Estimated Fair Amortized Estimated Fair Cost Value Cost Value Amounts maturing: One year or less $ 38,936 $ 38,892 $ 35,105 $ 34,995 After one through five years 88,175 88,513 34,489 34,248 After five through ten years 19,873 19,921 9,257 9,428 After ten years 85,607 85,785 2,526 2,464 $ 232,591 $ 233,111 $ 81,377 $ 81,135 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Schedule Of Accounts Notes Loans And Financing Receivable [Table Text Block] | The loan portfolio segment balances at December 31, 2018 and December 31, 2017 are presented in the following table: December 31, 2018 December 31, 2017 (in thousands) Legacy Acquired 1 Total % of Total Total % of Total Real estate Construction and land $ 87,739 $ 35,932 $ 123,671 7.5 % $ 74,398 7.9 % Residential - first lien 209,777 173,267 383,044 23.2 194,896 20.8 Residential - junior lien 45,421 44,224 89,645 5.4 43,047 4.6 Total residential real estate 255,198 217,491 472,689 28.6 237,943 25.4 Commercial - owner occupied 187,166 46,936 234,102 14.2 170,408 18.2 Commercial - non-owner occupied 288,927 138,820 427,747 25.9 260,802 27.8 Total commercial real estate 476,093 185,756 661,849 40.1 431,210 46.0 Total real estate loans 819,030 439,179 1,258,209 76.2 743,551 79.3 Commercial loans and leases 228,422 108,454 336,876 20.5 188,729 20.2 Consumer 21,236 33,430 54,666 3.3 4,328 0.5 Total loans $ 1,068,688 $ 581,063 $ 1,649,751 100.0 % $ 936,608 100.0 % (1) Loans acquired in 2018, previously acquired loans are included in legacy balances |
Acquired Impaired Loans Receivables [Table Text Block] | The following table documents changes in the accretable discount on acquired impaired loans at December 31, 2018 and 2017: December 31, (in thousands) 2018 2017 Balance at beginning of period $ - $ 60 Impaired loans acquired 1,055 - Accretion of fair value discounts (178 ) (60 ) Balance at end of period $ 877 $ - 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 December 31, 2018 $ 15,463 $ 11,446 At December 31, 2017 1,292 851 |
Credit Quality Assessment (Tabl
Credit Quality Assessment (Tables) | 12 Months Ended |
Dec. 31, 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 years ended December 31, 2018, 2017 and 2016: December 31, 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: Beginning balance $ 735 $ 668 $ 177 $ 617 $ 1,410 $ 2,529 $ 23 $ 6,159 Charge-offs (202 ) (142 ) (195 ) (28 ) (797 ) (1,092 ) (63 ) (2,519 ) Recoveries - 8 10 - 32 88 4 142 Provision for credit losses 208 636 300 146 3,412 1,119 270 6,091 Ending balance $ 741 $ 1,170 $ 292 $ 735 $ 4,057 $ 2,644 $ 234 $ 9,873 Allowance allocated to: individually evaluated for impairment $ - $ - $ - $ - $ 2,195 $ 200 $ - $ 2,395 collectively evaluated for impairment $ 741 $ 1,170 $ 292 $ 735 $ 1,862 $ 2,444 $ 234 $ 7,478 Loans: Legacy Loans: Ending balance $ 87,739 $ 209,777 $ 45,421 $ 187,166 $ 288,927 $ 228,422 $ 21,236 $ 1,068,688 individually evaluated for impairment $ 560 $ 5,184 $ 100 $ 45 $ 5,018 $ 2,455 $ - $ 13,362 collectively evaluated for impairment $ 87,179 $ 204,593 $ 45,321 $ 187,121 $ 283,909 $ 225,967 $ 21,236 $ 1,055,326 Acquired Loans: Ending balance $ 35,932 $ 173,267 $ 44,224 $ 46,936 $ 138,820 $ 108,454 $ 33,430 $ 581,063 purchased credit impaired loans $ 889 $ 8,075 $ 1,037 $ 1,223 $ - $ - $ 174 $ 11,398 collectively evaluated for impairment $ 35,043 $ 165,192 $ 43,187 $ 45,713 $ 138,820 $ 108,454 $ 33,256 $ 569,665 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 for credit losses: Beginning balance $ 511 $ 454 $ 89 $ 327 $ 1,120 $ 3,800 $ 127 $ 6,428 Charge-offs (155 ) (133 ) (31 ) (235 ) - (1,605 ) (108 ) (2,267 ) Recoveries 6 - 1 6 6 113 35 167 Provision for credit losses 373 347 118 519 284 221 (31 ) 1,831 Ending balance $ 735 $ 668 $ 177 $ 617 $ 1,410 $ 2,529 $ 23 $ 6,159 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 December 31, 2016 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: Beginning balance $ 265 $ 300 $ 47 $ 309 $ 728 $ 3,094 $ 126 $ 4,869 Charge-offs (216 ) - - (191 ) - (234 ) (20 ) (661 ) Recoveries - - - 40 5 101 37 183 Provision for credit losses 462 154 42 169 387 839 (16 ) 2,037 Ending balance $ 511 $ 454 $ 89 $ 327 $ 1,120 $ 3,800 $ 127 $ 6,428 Allowance allocated to: individually evaluated for impairment $ - $ 7 $ - $ - $ - $ 2,076 $ 72 $ 2,155 collectively evaluated for impairment $ 511 $ 447 $ 89 $ 327 $ 1,120 $ 1,724 $ 55 $ 4,273 Loans: Ending balance $ 72,973 $ 195,032 $ 35,009 $ 134,213 $ 216,781 $ 162,715 $ 4,801 $ 821,524 individually evaluated for impairment $ 125 $ 785 $ 37 $ 509 $ 3,148 $ 5,142 $ 167 $ 9,913 collectively evaluated for impairment $ 72,848 $ 194,247 $ 34,972 $ 133,704 $ 213,633 $ 157,573 $ 4,634 $ 811,611 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit risk profile by portfolio segment based upon internally assigned risk assignments are presented below: December 31, 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 $ 87,305 $ 205,573 $ 45,321 $ 187,121 $ 283,771 $ 225,698 $ 21,236 $ 1,056,025 Special mention - - - - - - - - Substandard 434 4,204 100 45 5,156 2,724 - 12,663 Doubtful - - - - - - - - Total $ 87,739 $ 209,777 $ 45,421 $ 187,166 $ 288,927 $ 228,422 $ 21,236 $ 1,068,688 Acquired Loans: Not classified $ 34,965 $ 165,193 $ 43,186 $ 41,287 $ 138,820 $ 108,454 $ 33,256 $ 565,161 Special mention 78 - - 3,877 - - - 3,955 Substandard 889 8,074 1,038 1,772 - - 174 11,947 Doubtful - - - - - - - - Total $ 35,932 $ 173,267 $ 44,224 $ 46,936 $ 138,820 $ 108,454 $ 33,430 $ 581,063 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: December 31, 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 $ 86,788 $ 196,769 $ 44,580 $ 187,121 $ 283,601 $ 225,649 $ 21,227 $ 1,045,735 Accruing loans past due: 30-59 days past due - 5,993 397 - 308 49 9 6,756 60-89 days past due 166 2,241 344 - - 307 - 3,058 Greater than 90 days past due 351 570 - - - - - 921 Total past due 517 8,804 741 - 308 356 9 10,735 Non-accrual loans 434 4,204 100 45 5,018 2,417 - 12,218 Total loans $ 87,739 $ 209,777 $ 45,421 $ 187,166 $ 288,927 $ 228,422 $ 21,236 $ 1,068,688 Acquired Loans: Accruing loans current $ 35,043 $ 164,752 $ 42,304 $ 45,713 $ 138,696 $ 108,409 $ 33,256 $ 568,173 Accruing loans past due: 30-59 days past due - 440 540 - 124 45 - 1,149 60-89 days past due - - 343 - - - - 343 Greater than 90 days past due - - - - - - - - Total past due - 440 883 - 124 45 - 1,492 Non-accrual loans 1 889 8,075 1,037 1,223 - - 174 11,398 Total loans $ 35,932 $ 173,267 $ 44,224 $ 46,936 $ 138,820 $ 108,454 $ 33,430 $ 581,063 (1) First Mariner 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 for the years ended December 31, 2018 and 2017 are as follows: December 31, 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 $ 5,184 $ 100 $ 45 $ 5,018 $ 2,455 $ - $ 13,362 With an allowance recorded - - - - 2,816 200 - 3,016 With no related allowance recorded 560 5,184 100 45 2,202 2,255 - 10,346 Related allowance - - - - 2,195 200 - 2,395 Unpaid principal 761 5,224 99 45 5,040 3,670 - 14,839 Average balance of impaired loans 761 6,245 91 45 5,085 4,358 - 16,585 Interest income recognized - 111 2 - 5 124 - 242 Acquired Loans: Recorded investment 1 $ 889 $ 8,075 $ 1,037 $ 1,223 $ - $ - $ 174 11,398 Unpaid principal 1,112 9,201 1,357 1,524 255 1,198 185 14,832 Average balance of impaired loans 1,112 9,201 1,357 1,524 255 1,198 185 14,832 Interest income recognized - 363 49 16 - 1 5 434 (1) First Mariner 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] | The troubled debt restructured loans (“TDRs”) at December 31, 2018 and December 31, 2017 are as follows: December 31, 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 2 291 2 982 1,273 Commercial - non-owner occupied 2 2,815 - - 2,815 Commercial loans and leases 1 514 - - 514 5 $ 3,620 3 $ 1,107 $ 4,727 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 performance under modified terms is as follows: December 31, 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 - 291 982 1,273 Commercial RE - non-owner occupied Rate modification 2,195 2,815 - 2,815 Commercial loans Forbearance - 514 - 514 Total troubled debt restructured loans $ 2,195 $ 3,620 $ 1,107 $ 4,727 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 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheet as of December 31, 2018. December 31, 2018 Balance Sheet Notional Estimated Fair Value (dollars in thousands) Location Amount Gain Loss Not designated hedges of interest rate risk: Customer related interest rate contracts: Matched interest rate swaps with borrowers Other assets and other liabilities $ 3,061 $ 100 $ - Matched interest rate swaps with counterparty Other assets and other liabilities $ 3,061 $ - $ 106 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | On March 1, 2018 the Company initially recorded an additional $71.4 million in goodwill relating to the First Mariner merger. Based upon updated information the goodwill was adjusted downward in 2018 by $1.3 million to reflect revised valuations as detailed in Note 2. December 31, (in thousands) 2018 2017 Goodwill Banking $ 70,697 $ 603 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | The gross carrying amount and accumulated amortization of other intangible assets are as follows: December 31, 2018 Weighted Gross Net Average Carrying Accumulated Carrying Remaining Life (in thousands) Amount Amortization Amount (Years) Amortizing intangible assets: Core deposit intangible $ 16,135 $ 4,653 $ 11,482 4.7 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, is as follows: (in thousands) 2019 $ 3,012 2020 2,674 2021 2,326 2022 1,915 2023 1,298 Thereafter 257 Total amortizing intangible assets $ 11,482 |
Bank Premises and Equipment (Ta
Bank Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Premises and equipment include the following at: December 31, (in thousands) 2018 2017 Land $ 10,239 $ 4,334 Building and leasehold improvements 35,571 16,384 Furniture and equipment 6,686 5,015 Software 419 345 52,915 26,078 Less: accumulated depreciation and amortization 7,778 6,889 Net premises and equipment $ 45,137 $ 19,189 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future minimum lease payments under noncancellable operating leases within the years ending December 31, having an initial term in excess of one year are as follows: (in thousands) 2019 $ 2,129 2020 1,772 2021 1,613 2022 1,462 2023 1,296 Thereafter 3,074 Total minimum lease payments $ 11,346 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 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: December 31, (dollars in thousands) 2018 2017 % of % of Amount Total Amount Total Noninterest-bearing demand $ 429,200 26 % $ 218,139 26 % Interest-bearing checking 227,322 13 71,642 8 Money market accounts 356,130 21 252,453 29 Savings 134,893 8 52,078 6 Certificates of deposit $250 and over 82,511 5 9,950 1 Certificates of deposit under $250 455,750 27 259,646 30 Total deposits $ 1,685,806 100 % $ 863,908 100 % |
Schedule of Maturities Time Deposits [Table Text Block] | The following table presents the maturity schedule for time deposits maturing within years ending December 31: (in thousands) 2019 $ 325,483 2020 128,452 2021 65,228 2022 13,385 2023 5,713 Total time deposits $ 538,261 |
Schedule Of Interest Expense On Deposits [Table Text Block] | Interest expense on deposits for the twelve months ended December 31, 2018, December 31, 2017 and December 31, 2016 was as follows: December 31, (in thousands) 2018 2017 2016 Interest-bearing checking $ 554 $ 168 $ 132 Savings and money market 2,393 1,217 1,220 Certificates of deposit 5,593 2,612 2,118 Total $ 8,540 $ 3,997 $ 3,470 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Short-term Debt [Abstract] | |
Schedule of Short-term Debt [Table Text Block] | Information relating to short-term borrowings at December 31, 2018 and December 31, 2017 is presented below: December 31, 2018 2017 (dollars in thousands) Amount Rate Amount Rate At period end 134,576 2.08 % $ 130,385 1.35 % Average for the year 146,050 1.59 88,513 0.99 Maximum month-end balance 322,403 130,385 |
Long-Term Borrowings (Tables)
Long-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | Long-term borrowings for the periods consisted of the following: December 31, (in thousands) 2018 2017 Federal Home Loan Bank Advances 1.99% Due 2019 1 $ - $ 15,000 2.48% Due 2020 2 14,000 - 2.53% Due 2020 2 15,000 - 2.67% Due 2020 2 30,000 - 2.62% Due 2020 2 30,000 - 2.71% Due 2020 2 25,000 - Subordinated debentures 2.48% Due 2035 3 5,000 5,000 6.00% Due 2028 4 25,000 - Total principal of long-term borrowings 144,000 20,000 Purchase accounting adjustment on acquired debt 3 (1,384 ) (1,465 ) Cost of issuance of subordinated debt 4 (539 ) - Total long-term borrowings $ 142,077 $ 18,535 (1) Fixed rate advances (2) Fixed rate hybrid advances (3) Subordinated debt acquired in 2015. Carrying value after purchase accounting adjustments of $3.6 million at December 31, 2018. Interest adjusts quarterly at the rate of three month LIBOR plus 1.48% (4) Issued subordinated debt. Carrying value net of issuance costs of $24.5 million at December 31, 2018. Initial rate of 6.00% per annum. Subsequent rate adjusts quarterly at the rate of three month LIBOR plus 3.02% |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Federal and state income tax expense (benefit) consists of the following for the years ended: December 31, (in thousands) 2018 2017 2016 Current federal income tax $ - $ 3,243 $ 4,171 Current state income tax - 1,038 (6 ) Deferred federal income tax (627 ) (968 ) (1,153 ) Deferred state income tax (270 ) (161 ) (76 ) Total income tax expense (benefit) $ (897 ) $ 3,152 $ 2,936 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of the statutory federal income tax (benefit) expense to the Company’s effective tax (benefit) rate for the years ended follows: December 31, (in thousands) 2018 2017 2016 Statutory federal income tax (benefit) expense $ (992 ) $ 3,520 $ 2,801 State income taxes, net of federal income tax expense (213 ) 579 511 Bank owned life insurance (162 ) (258 ) (212 ) Acquisition related costs 316 115 - Revalue of deferred taxes - 268 - Correction of error - (675 ) - Other, net 154 (397 ) (164 ) Total income tax (benefit) expense $ (897 ) $ 3,152 $ 2,936 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The following table is a summary of the tax effect of temporary differences that give rise to a significant portion of deferred tax assets and liabilities: December, 31 (in thousands) 2018 2017 Deferred tax assets: Net operating losses $ 35,415 $ 700 Allowance for credit losses 2,717 1,695 Valuation on foreclosed real estate 617 851 Supplemental executive benefit plans 782 372 Stock-based compensation 29 74 Deferred loan fees and costs, net 576 15 Unrealized loss on securities - 124 Net fair value of acquired assets 4,007 - Depreciation and amortization 276 - Other assets 605 283 Total deferred tax assets 45,024 4,114 Deferred tax liabilities: Other net liabilities acquired 4,827 2,443 Bank owned life insurance 4,802 - Unrealized gain on securities 110 - Net fair value of acquired liabilities - 629 Depreciation and amortization - 229 Total deferred tax liabilities 9,739 3,301 Net deferred tax assets $ 35,285 $ 813 |
Related Party Loans and Depos_2
Related Party Loans and Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | Total outstanding balances to the Company’s executive officers, directors and their related interests are presented below. December 31, (in thousands) 2018 2017 Balance January 1 $ 19,297 $ 20,260 Additions 9,347 9,097 Change in status (11,412 ) (747 ) Repayments (10,014 ) (9,313 ) Balance December 31 $ 7,218 $ 19,297 |
Financial Instruments with Of_2
Financial Instruments with Off-Balance Sheet Risk and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Risks and Uncertainties [Abstract] | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | Outstanding loan commitments and lines and letters of credit are as follows: December 31, (in thousands) 2018 2017 Unfunded loan commitments $ 104,466 $ 81,074 Unused lines of credit 282,822 138,526 Letters of credit 16,661 10,839 |
Stock Options and Stock Awards
Stock Options and Stock Awards (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Stock Options Awards and Warrants [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes Bancorp’s stock option activity and related information for the years ended: December 31, 2018 2017 2016 Weighted Weighted Weighted Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Balance at January 1, 30,991 $ 9.69 123,593 $ 12.36 137,463 $ 12.30 Granted - - - - - - Exercised (9,123 ) 10.63 (27,113 ) 11.67 (3,020 ) 11.64 Forfeited (6,600 ) 10.52 (65,489 ) 13.92 (10,850 ) 11.77 Balance at period end 15,268 $ 8.76 30,991 $ 9.69 123,593 $ 12.36 Exercisable at period end 15,268 $ 8.76 30,991 $ 9.69 123,593 $ 12.36 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] | A summary of the activity for Bancorp’s RSUs for the periods indicated is presented in the following table: December 31, 2018 2017 2016 Weighted Weighted Weighted Average Average Average Grant Date Grant Date Grant Date Shares Fair Value Shares Fair Value Shares Fair Value Balance at January 1, 52,155 $ 15.09 65,491 $ 13.23 74,828 $ 13.21 Granted 20,732 19.90 18,500 17.41 27,000 12.91 Vested (54,542 ) 16.63 (31,836 ) 12.60 (17,838 ) 12.95 Forfeited (8,614 ) 14.41 - - (18,499 ) 12.96 Balance at period end 9,731 $ 17.29 52,155 $ 15.09 65,491 $ 13.23 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block] | At December 31, 2018, based on RSU awards outstanding at that time, the total unrecognized pre-tax compensation expense related to unvested RSU awards was $114 thousand. Based upon the contractual terms, this expense is expected to be recognized as follows: (in thousands) 2019 $ 84 2020 30 $ 114 |
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: For the year ended December 31, (in thousands) 2018 2017 2016 Stock-based compensation expense Related to the issuance of restricted stock and RSUs $ 656 $ 490 $ 239 Director compensation paid in stock $ 217 $ 205 $ 160 |
Income per Common Share (Tables
Income per Common Share (Tables) | 12 Months Ended |
Dec. 31, 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 years ended: December 31, (dollars in thousands, except per share data) 2018 2017 2016 Net (loss) income $ (3,828 ) $ 7,200 $ 5,303 Preferred stock dividends - - (166 ) Net income available to common stockholders (numerator) $ (3,828 ) $ 7,200 $ 5,137 BASIC Basic average common shares outstanding (denominator) 17,556,554 9,555,952 6,975,662 Basic (loss) income per common share $ (0.22 ) $ 0.75 $ 0.74 DILUTED Average common shares outstanding 17,556,554 9,555,952 6,975,662 Dilutive effect of common stock equivalents - 40,852 23,320 Diluted average common shares outstanding (denominator) 17,556,554 9,596,804 6,998,982 Diluted (loss) income per common share $ (0.22 ) $ 0.75 $ 0.73 Because the Company reported a loss for 2018 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 14,740 - - Common stock equivalents outstanding that are anti-dilutive and thus excluded from calculation of diluted number of shares presented above - - 74,051 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 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 as of December 31, 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 December 31, 2018: Total capital (to risk-weighted assets) Howard Bank $ 212,099 11.80 % $ 143,810 8.00 % $ 179,762 10.00 % Howard Bancorp $ 218,425 12.14 % $ 143,889 8.00 % N/A Common equity tier 1 capital (to risk-weighted assets) Howard Bank $ 202,226 11.25 % $ 80,893 4.50 % $ 116,846 6.50 % Howard Bancorp $ 179,935 10.00 % $ 80,938 4.50 % N/A Tier 1 capital (to risk-weighted assets) Howard Bank $ 202,226 11.25 % $ 107,857 6.00 % $ 143,810 8.00 % Howard Bancorp $ 179,935 10.00 % $ 107,917 6.00 % N/A Tier 1 capital (to average assets) (Leverage ratio) Howard Bank $ 202,226 9.84 % $ 82,212 4.00 % $ 102,765 5.00 % Howard Bancorp $ 179,935 8.77 % $ 82,046 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) | 12 Months Ended |
Dec. 31, 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 or disclosed at fair value on a recurring basis at December 31, 2018 and December 31, 2017. December 31, 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) Assets Available for sale securities: U.S. Government agencies $ 130,397 $ - $ 130,397 $ - Mortgage-backed securities 90,460 - 90,460 - Other investments 3,001 - 3,001 - Loans held for sale 21,261 - 21,261 - Loans held for investment 1,303 - 1,303 - Rate lock commitments 126 - - 126 Interest rate swap assets 100 - 100 - Liabilities Interest rate swap liabilities 106 - 106 - 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: December 31, December 31, 2018 2017 Balance, beginning of period $ 530 $ 528 Privately held equity investment (72 ) 79 Net gains (losses) included in realized and unrealized gains on mortgage banking activity in noninterest income (332 ) (77 ) Balance, end of period $ 126 $ 530 |
Schedule Of Assets Held For Sale Fair Value Options [Table Text Block] | Assets under fair value option: December 31, 2018 Carrying Aggregate Fair Value Unpaid (in thousands) Amount Principal Difference Loans held for sale $ 21,261 $ 20,785 $ 476 Loans held for investment 1,303 1,342 (39 ) 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 as of December 31, 2018 and December 31, 2017. December 31, 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 $ 4,392 $ - $ - $ 4,392 Impaired loans: Construction and land 1,449 - - 1,449 Residential - first lien 13,259 - - 13,259 Residential - junior lien 1,137 - - 1,137 Commercial - owner occupied 1,268 - - 1,268 Commercial - non-owner occupied 2,823 - - 2,823 Commercial loans and leases 2,255 - - 2,255 Consumer 174 - - 174 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: December 31, 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 $ 223,858 $ 223,858 $ - $ 223,858 $ - Held to maturity securities 9,250 9,253 - - 9,253 Nonmarketable equity securities 11,786 11,786 - 11,786 - Loans held for sale 21,261 21,261 - 21,261 - Loans held for investment 1,303 1,303 - 1,303 - Rate lock commitments 126 126 - - 126 Loans and leases 1 1,638,575 1,613,506 - - 1,613,506 Interest rate swap 100 100 - 100 - Financial Liabilities Deposits 1,685,806 1,681,295 - 1,681,295 - Short-term borrowings 134,576 134,576 - 134,576 - Long-term borrowings 142,077 142,296 - 142,296 - Interest rate swap 106 106 - 106 - 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 December 31, 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) | 12 Months Ended |
Dec. 31, 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 twelve months ended: December 31, (in thousands) 2018 2017 2016 NONINTEREST INCOME Service charges on deposit accounts $ 595 $ 239 $ 165 Fees and other services charges 2,404 954 813 Other 70 57 58 Noninterest income in scope of Topic 606 3,069 1,250 1,036 Noninterest income out of scope of Topic 606 14,791 18,274 13,760 Total noninterest income $ 17,860 $ 19,524 $ 14,796 |
Parent Company Financial Info_2
Parent Company Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Balance Sheet [Table Text Block] | Balance Sheets December 31, (in thousands) 2018 2017 ASSETS Cash and cash equivalents $ 6,843 $ 15,699 Investment in subsidiaries 316,771 121,374 Other assets 293 - Total assets $ 323,907 $ 137,073 LIABILITIES Short-term borrowings $ 972 $ 817 Long-term borrowings 28,077 3,535 Other liabilities 175 468 Total liabilities 29,224 4,820 SHAREHOLDERS' EQUITY Common stock-par value of $0.01 authorized 20,000,000 shares; issued and outstanding 19,039,347 shares at December 31, 2018 and 9,820,592 at December 31, 2017 190 98 Capital surplus 275,843 110,387 Retained earnings 18,277 22,105 Accumulated other comprehensive 373 (337 ) Total shareholders’ equity 294,683 132,253 Total liabilities and shareholders’equity $ 323,907 $ 137,073 |
Condensed Income Statement [Table Text Block] | Statements of Operations December 31, (in thousands) 2018 2017 2016 INTEREST INCOME Interest on securities $ - $ - $ 1 Other interest income 1 - - INTEREST EXPENSE Short-term borrowings 6 49 300 Long-term borrowings 376 216 196 NET INTEREST EXPENSE (381 ) (265 ) (495 ) NONINTEREST INCOME Gain on the sale of securities - - 96 NONINTEREST EXPENSE Compensation and benefits 268 490 306 Other operating expense 42 73 192 Total noninterest expense 310 563 498 Loss before income tax and equity in undistributed income of subsidiary (691 ) (828 ) (897 ) Income tax benefit (176 ) (349 ) (305 ) Loss before equity in undistributed income of subsidiary (515 ) (479 ) (592 ) Equity in undistributed income of subsidiary (3,313 ) 7,679 5,895 Net income (loss) $ (3,828 ) $ 7,200 $ 5,303 Preferred stock dividends - - 166 Net income available to common shareholders $ (3,828 ) $ 7,200 $ 5,137 |
Condensed Cash Flow Statement [Table Text Block] | Statements of Cash Flows Year Ended December 31, (in thousands) 2018 2017 2016 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (3,828 ) $ 7,200 $ 5,303 Adjustments to reconcile net income (loss) to net cash from operating activities: Deferred income taxes (benefits) (117 ) (115 ) (60 ) Share-based compensation 873 695 399 Gain on sales of securities - (96 ) Equity in undistributed 3,313 (7,679 ) (5,895 ) (Increase) decrease in other assets (293 ) 40 101 Increase (decrease) in other liabilities (176 ) 84 (2 ) Net cash (used in) provided by operating activities (228 ) 225 (250 ) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from sale of investment securities available-for-sale - - 196 Cash paid for acquisition (9,245 ) - - Investment in subsidiary (24,177 ) (23,000 ) - Net cash (used in) provided by investing activities (33,422 ) (23,000 ) 196 CASH FLOWS FROM FINANCING ACTIVITIES: Net (decrease) increase increase in short-term borrowings 155 (12,542 ) 12,468 Proceeds from issuance of long-tern debt 24,542 82 82 Net proceeds from issuance of common stock, net of cost 97 38,699 35 Redemption of preferred stock - - (12,562 ) Cash dividends on preferred stock - - (166 ) Net cash provided by (used in) financing activities 24,794 26,239 (143 ) Net increase (decrease) in cash and cash equivalents (8,856 ) 3,464 (197 ) Cash and cash equivalents at beginning of period 15,699 12,235 12,432 Cash and cash equivalents at end of period $ 6,843 $ 15,699 $ 12,235 |
Quarterly Financial Results (_2
Quarterly Financial Results (unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | The following table provides a summary of selected consolidated quarterly financial data for the years ended December 31, 2018 and December 31, 2017: 2018 Fourth Third Second First (in thousands, except share data.) Quarter Quarter Quarter Quarter Interest income $ 22,428 $ 22,436 $ 21,165 $ 14,360 Interest expense 4,485 3,789 3,285 2,212 Net interest income 17,943 18,647 17,880 12,148 Provision for loan losses 2,850 696 1,425 1,120 Noninterest income 3,683 3,856 5,617 4,704 Noninterest expense 18,425 16,396 25,140 23,151 Net income before income taxes 351 5,411 (3,068 ) (7,419 ) Income (benefit) tax expenses 206 1,432 (791 ) (1,744 ) Net income available to common shareholders $ 145 $ 3,979 $ (2,277 ) $ (5,675 ) Net income per common share, basic $ 0.01 $ 0.21 $ (0.12 ) $ (0.43 ) Net income per common share, diluted $ 0.01 $ 0.21 $ (0.12 ) $ (0.43 ) Average common shares outstanding 19,035,316 19,025,855 19,002,851 13,080,614 Diluted average common shares outstanding 19,041,880 19,035,192 19,002,851 13,080,614 2017 Fourth Third Second First (in thousands, except share data.) Quarter Quarter Quarter Quarter Interest income $ 11,338 $ 11,112 $ 10,708 $ 9,868 Interest expense 1,482 1,357 1,211 1,117 Net interest income 9,856 9,755 9,497 8,751 Provision for loan losses 800 491 340 200 Noninterest income 4,669 5,085 5,311 4,459 Noninterest expense 11,848 11,618 11,234 10,500 Net income before income taxes 1,877 2,731 3,234 2,510 Income tax expenses (6 ) 1,018 1,196 944 Net incomeavailable to common shareholders $ 1,883 $ 1,713 $ 2,038 $ 1,566 Net income per common share, basic $ 0.19 $ 0.17 $ 0.21 $ 0.18 Net income per common share, diluted $ 0.19 $ 0.17 $ 0.21 $ 0.18 Average common shares outstanding 9,815,228 9,808,542 9,779,772 8,806,404 Diluted average common shares outstanding 9,858,809 9,854,822 9,822,165 8,856,763 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Textual) - USD ($) | Jan. 01, 2019 | Mar. 01, 2018 | Mar. 01, 2018 | Feb. 01, 2017 | May 06, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 06, 2018 | Feb. 28, 2018 |
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Stock Redeemed or Called During Period, Value | $ 12,562,000 | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Description | At the effective time of the Merger, 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 | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ (38,889,000) | $ 0 | 0 | |||||||
Stock Issued During Period, Value, Acquisitions | $ 164,600,000 | 164,578,000 | ||||||||
Business Acquisition, Share Price | $ 18 | |||||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 6.00% | |||||||||
Subordinated Debt | $ 25,000,000 | |||||||||
Percentage of notes issued to purchasers | 100 | |||||||||
Marketable Securities | 3,700,000 | 2,500,000 | ||||||||
Stock Issued During Period, Value, New Issues | $ 217,000 | $ 205,000 | $ 160,000 | |||||||
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 | $ 38,400,000 | |||||||||
Stock Issued During Period, Value, New Issues | $ 41,400,000 | |||||||||
Subsequent Event [Member] | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 15,800,000 | |||||||||
Series AA Preferred Stock [Member | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Stock Redeemed or Called During Period, Shares | 12,562 | |||||||||
Stock Redeemed or Called During Period, Value | $ 12,700,000 | |||||||||
Series AA Preferred Stock [Member | Raymond James Bank Variable Rate Debt [Member] | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Debt Instrument, Description of Variable Rate Basis | with interest only payments based upon 30 day LIBOR plus 300 basis points | |||||||||
First Mariner Bank [Member] | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Business Combination, Consideration Transferred | 173,823,000 | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 9,200,000 | |||||||||
Stock Issued During Period, Shares, Acquisitions | 9,143,222 | |||||||||
Stock Issued During Period, Value, Acquisitions | $ 164,600,000 | |||||||||
Business Acquisition, Share Price | $ 18 | |||||||||
Furniture and Fixtures [Member] | Maximum [Member] | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Property, Plant and Equipment, Useful Life | 10 years | |||||||||
Furniture and Fixtures [Member] | Minimum [Member] | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Property, Plant and Equipment, Useful Life | 3 years | |||||||||
Computer Software, Intangible Asset [Member] | Maximum [Member] | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Property, Plant and Equipment, Useful Life | 5 years | |||||||||
Computer Software, Intangible Asset [Member] | Minimum [Member] | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Property, Plant and Equipment, Useful Life | 3 years | |||||||||
Premises and Equipment [Member] | Maximum [Member] | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Property, Plant and Equipment, Useful Life | 30 years | |||||||||
Premises and Equipment [Member] | Minimum [Member] | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Property, Plant and Equipment, Useful Life | 20 years | |||||||||
Property Subject to Operating Lease [Member] | First Mariner Bank [Member] | ||||||||||
Summary of Significant Accounting Policies [Line Items] | ||||||||||
Business Combination, Consideration Transferred | $ 173,800,000 |
Business Combinations (Details)
Business Combinations (Details) - First Mariner Bank [Member] - USD ($) $ in Thousands | Mar. 01, 2018 | Dec. 31, 2018 |
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 | 38,889 | |
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 | 120,049 | |
Core deposit intangible | 12,588 | |
Total fair value of assets acquired | 1,001,298 | |
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: | 103,729 | |
Transaction consideration paid to First Mariner | 173,823 | |
Amount of goodwill recorded from First Mariner Acquisition | $ 70,094 | $ 70,100 |
Business Combinations (Details
Business Combinations (Details 1) - USD ($) $ in Thousands | Dec. 31, 2018 | Mar. 01, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | |||
Contractually Required Payments Receivable | $ 654,600 | ||
Accretable FMV Adjustments | 9,100 | ||
First Mariner Bank [Member] | |||
Business Acquisition [Line Items] | |||
Contractually Required Payments Receivable | $ 684,091 | ||
Non-Accretable Credit Adjustments | 9,644 | ||
Cash Flows Expected To Be Collected | 674,447 | ||
Accretable FMV Adjustments | 10,109 | ||
Carrying Value of Loans Receivable | 664,338 | ||
Performing Loans Acquired [Member] | First Mariner Bank [Member] | |||
Business Acquisition [Line Items] | |||
Contractually Required Payments Receivable | 654,621 | ||
Non-Accretable Credit Adjustments | 0 | ||
Cash Flows Expected To Be Collected | 654,621 | ||
Accretable FMV Adjustments | 9,054 | ||
Carrying Value of Loans Receivable | 645,567 | ||
Impaired Loans Acquired [Member] | |||
Business Acquisition [Line Items] | |||
Contractually Required Payments Receivable | 15,463 | $ 1,292 | |
Impaired Loans Acquired [Member] | First Mariner Bank [Member] | |||
Business Acquisition [Line Items] | |||
Contractually Required Payments Receivable | 29,470 | ||
Non-Accretable Credit Adjustments | $ 9,600 | 9,644 | |
Cash Flows Expected To Be Collected | 19,826 | ||
Accretable FMV Adjustments | 1,055 | ||
Carrying Value of Loans Receivable | $ 18,771 |
Business Combinations (Detail_2
Business Combinations (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Compensation related | $ 9,871 | ||
Equipment disposition | 1,918 | ||
Legal and consulting | 2,005 | ||
Contract Terminations | 677 | ||
Accounting & other | 1,078 | ||
Total | $ 15,549 | $ 567 | $ 0 |
Business Combinations (Detail_3
Business Combinations (Details 3) - First Mariner [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net interest income after provision | $ 66,873 | $ 59,626 | $ 58,570 |
Noninterest income | 19,890 | 29,285 | 24,557 |
Noninterest expense | 77,699 | 80,721 | 74,787 |
Net income | $ 6,569 | $ 1,315 | $ 2,732 |
Net income per share | $ 0.35 | $ 0.09 | $ 0.18 |
Business Combinations (Detail_4
Business Combinations (Details Textual) $ / shares in Units, $ in Thousands | Mar. 01, 2018USD ($)Numbershares | Mar. 01, 2018USD ($)Number | Dec. 31, 2018USD ($)Number | Feb. 28, 2018$ / shares | Dec. 31, 2017USD ($) |
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 | ||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Fair Market Value Adjustments | $ 9,100 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 9,143,222 | ||||
Number Of Loans | Number | 2,700 | ||||
Stock Issued During Period, Value, Acquisitions | $ 164,600 | $ 164,578 | |||
Business Acquisition, Share Price | $ / shares | $ / shares | $ 18 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Description | At the effective time of the Merger, 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 | ||||
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 | $ 684,091 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Fair Market Value Adjustments | 10,109 | 10,109 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities non Accretable Fair Market Value Adjustments | 9,644 | 9,644 | |||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | 70,094 | 70,094 | $ 70,100 | ||
Business Combination, Consideration Transferred | 173,823 | ||||
Payments to Acquire Businesses, Gross | $ 9,245 | ||||
Stock Issued During Period, Value, Acquisitions | 164,600 | ||||
Business Acquisition, Share Price | $ / shares | $ / shares | $ 18 | ||||
Business Combination Shares Exchange Rights | Pure | 1.6624 | ||||
Performing Financial Instruments [Member] | 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 | $ 654,621 | 654,621 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Fair Market Value Adjustments | 9,054 | 9,054 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities non Accretable Fair Market Value Adjustments | 0 | 0 | |||
Business Combination, Consideration Transferred | 173,800 | ||||
Impaired Loans Acquire [Member] | 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 | $ 29,500 | $ 29,500 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Fair Market Value Adjustments | 1,100 | ||||
Number Of Loans | Number | 57 | 57 | |||
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 | 15,463 | $ 1,292 | |||
Impaired Loans Acquired [Member] | 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 | $ 29,470 | $ 29,470 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Fair Market Value Adjustments | 1,055 | 1,055 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities non Accretable Fair Market Value Adjustments | $ 9,644 | $ 9,644 | $ 9,600 |
Investments Securities (Details
Investments Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Investments [Line Items] | ||
Amortized Cost | $ 223,341 | $ 74,707 |
Gross Unrealized Gains | 792 | 0 |
Gross Unrealized Losses | 275 | 451 |
Estimated Fair Value | 223,858 | 74,256 |
Other Investments [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost | 3,011 | 2,579 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 10 | 36 |
Estimated Fair Value | 3,001 | 2,543 |
U.S Government Agencies [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost | 130,088 | 68,082 |
Gross Unrealized Gains | 428 | 0 |
Gross Unrealized Losses | 119 | 342 |
Estimated Fair Value | 130,397 | 67,740 |
U.S.Government Treasuries [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost | 0 | 1,505 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 11 |
Estimated Fair Value | 0 | 1,494 |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost | 90,242 | 2,541 |
Gross Unrealized Gains | 364 | 0 |
Gross Unrealized Losses | 146 | 62 |
Estimated Fair Value | 90,460 | 2,479 |
Corporate Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost | 9,250 | 9,250 |
Gross Unrealized Gains | 45 | 188 |
Gross Unrealized Losses | 42 | 17 |
Estimated Fair Value | $ 9,253 | $ 9,421 |
Investments Securities (Detai_2
Investments Securities (Details 1) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | $ 32,247 | $ 58,005 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 67 | 264 |
Individual securities, 12 months or more, Fair Value | 15,994 | 16,193 |
Individual securities, 12 months or more, Gross Unrealized Losses | 208 | 187 |
Individual securities, Total, Fair Value | 48,241 | 74,198 |
Individual securities, Total, Gross Unrealized Losses | 275 | 451 |
Other Investments [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | 3,001 | 2,500 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 10 | 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 | 3,001 | 2,500 |
Individual securities, Total, Gross Unrealized Losses | 10 | 36 |
US Government Agencies [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | 3,049 | 54,303 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 3 | 216 |
Individual securities, 12 months or more, Fair Value | 13,887 | 13,437 |
Individual securities, 12 months or more, Gross Unrealized Losses | 116 | 126 |
Individual securities, Total, Fair Value | 16,936 | 67,740 |
Individual securities, Total, Gross Unrealized Losses | 119 | 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 | |
Individual securities, Less than 12 months, Gross Unrealized Losses | 0 | |
Individual securities, 12 months or more, Fair Value | 1,494 | |
Individual securities, 12 months or more, Gross Unrealized Losses | 11 | |
Individual securities, Total, Fair Value | 1,494 | |
Individual securities, Total, Gross Unrealized Losses | 11 | |
Collateralized Mortgage Backed Securities [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | 26,197 | 1,202 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 54 | 12 |
Individual securities, 12 months or more, Fair Value | 2,107 | 1,262 |
Individual securities, 12 months or more, Gross Unrealized Losses | 92 | 50 |
Individual securities, Total, Fair Value | 28,304 | 2,464 |
Individual securities, Total, Gross Unrealized Losses | 146 | 62 |
Corporate Debt Securities [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
Individual securities, Less than 12 months, Fair Value | 2,458 | 500 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 42 | 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 | 2,458 | 500 |
Individual securities, Total, Gross Unrealized Losses | $ 42 | $ 17 |
Investments Securities (Detai_3
Investments Securities (Details 2) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Amounts maturing: | ||
One year or less, Amortized Cost | $ 38,936 | $ 35,105 |
After one through five years, Amortized Cost | 88,175 | 34,489 |
After five through ten years, Amortized Cost | 19,873 | 9,257 |
After ten years, Amortized Cost | 85,607 | 2,526 |
Amortized Cost | 232,591 | 81,377 |
One year or less, Estimated Fair value | 38,892 | 34,995 |
After one through five years, Estimated Fair value | 88,513 | 34,248 |
After five through ten years, Estimated Fair value | 19,921 | 9,428 |
After ten years, Estimated Fair value | 85,785 | 2,464 |
Estimated Fair Value | $ 233,111 | $ 81,135 |
Investments Securities (Detai_4
Investments Securities (Details Textual) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Securities Pledged For Repurchase Agreements [Line Items] | ||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 42.3 | $ 28.8 |
Nonmarketable Equity Securiti_2
Nonmarketable Equity Securities (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of Nonmarketable Equity Securities [Line Items] | ||
Non Marketable Equity Securities | $ 11,786 | $ 6,492 |
Federal Home Loan Bank of Atlanta [Member] | ||
Disclosure of Nonmarketable Equity Securities [Line Items] | ||
Non Marketable Equity Securities | $ 11,800 | $ 6,500 |
Loans and Leases (Details)
Loans and Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable [Line Items] | ||||
Loans and Leases, Legacy | $ 1,068,688 | |||
Loans and Leases, Acquired | [1] | 581,063 | ||
Loans and Leases | $ 1,649,751 | $ 936,608 | $ 821,524 | |
Loans and Leases, Net Percent | 100.00% | 100.00% | ||
Construction and Land [Member] | ||||
Loans and Leases Receivable [Line Items] | ||||
Loans and Leases, Legacy | $ 87,739 | |||
Loans and Leases, Acquired | [1] | 35,932 | ||
Loans and Leases | $ 123,671 | $ 74,398 | 72,973 | |
Loans and Leases, Net Percent | 7.50% | 7.90% | ||
Residential - First Lien [Member] | ||||
Loans and Leases Receivable [Line Items] | ||||
Loans and Leases, Legacy | $ 209,777 | |||
Loans and Leases, Acquired | [1] | 173,267 | ||
Loans and Leases | $ 383,044 | $ 194,896 | 195,032 | |
Loans and Leases, Net Percent | 23.20% | 20.80% | ||
Residential - Junior Lien [Member] | ||||
Loans and Leases Receivable [Line Items] | ||||
Loans and Leases, Legacy | $ 45,421 | |||
Loans and Leases, Acquired | [1] | 44,224 | ||
Loans and Leases | $ 89,645 | $ 43,047 | 35,009 | |
Loans and Leases, Net Percent | 5.40% | 4.60% | ||
Residential Real Estate [Member] | ||||
Loans and Leases Receivable [Line Items] | ||||
Loans and Leases, Legacy | $ 255,198 | |||
Loans and Leases, Acquired | [1] | 217,491 | ||
Loans and Leases | $ 472,689 | $ 237,943 | ||
Loans and Leases, Net Percent | 28.60% | 25.40% | ||
Commercial - Owner Occupied [Member] | ||||
Loans and Leases Receivable [Line Items] | ||||
Loans and Leases, Legacy | $ 187,166 | |||
Loans and Leases, Acquired | [1] | 46,936 | ||
Loans and Leases | $ 234,102 | $ 170,408 | 134,213 | |
Loans and Leases, Net Percent | 14.20% | 18.20% | ||
Commercial-Non-Owner Occupied [Member] | ||||
Loans and Leases Receivable [Line Items] | ||||
Loans and Leases, Legacy | $ 288,927 | |||
Loans and Leases, Acquired | [1] | 138,820 | ||
Loans and Leases | $ 427,747 | $ 260,802 | 216,781 | |
Loans and Leases, Net Percent | 25.90% | 27.80% | ||
Commercial Real Estate [Member] | ||||
Loans and Leases Receivable [Line Items] | ||||
Loans and Leases, Legacy | $ 476,093 | |||
Loans and Leases, Acquired | [1] | 185,756 | ||
Loans and Leases | $ 661,849 | $ 431,210 | ||
Loans and Leases, Net Percent | 40.10% | 46.00% | ||
Real Estate [Member] | ||||
Loans and Leases Receivable [Line Items] | ||||
Loans and Leases, Legacy | $ 819,030 | |||
Loans and Leases, Acquired | [1] | 439,179 | ||
Loans and Leases | $ 1,258,209 | $ 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 | $ 228,422 | |||
Loans and Leases, Acquired | [1] | 108,454 | ||
Loans and Leases | $ 336,876 | $ 188,729 | ||
Loans and Leases, Net Percent | 20.50% | 20.20% | ||
Consumer Loans [Member] | ||||
Loans and Leases Receivable [Line Items] | ||||
Loans and Leases, Legacy | $ 21,236 | |||
Loans and Leases, Acquired | [1] | 33,430 | ||
Loans and Leases | $ 54,666 | $ 4,328 | $ 4,801 | |
Loans and Leases, Net Percent | 3.30% | 0.50% | ||
[1] | Loans acquired in 2018, previously acquired loans are included in legacy balances |
Loans and Leases (Details 1)
Loans and Leases (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance at beginning of period | $ 936,608 | $ 821,524 |
Balance at end of period | 1,649,751 | 936,608 |
Impaired Financing Receivable [Member] | ||
Balance at beginning of period | 0 | 60 |
Impaired loans acquired | 1,055 | 0 |
Accretion of fair value discounts | (178) | (60) |
Balance at end of period | $ 877 | $ 0 |
Loans and Leases (Details 2)
Loans and Leases (Details 2) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Contractually Required Payments Receivable | $ 654,600 | |
Carrying Amount | $ 13,265 | |
Impaired Loans Acquired [Member] | ||
Contractually Required Payments Receivable | 15,463 | 1,292 |
Carrying Amount | $ 11,446 | $ 851 |
Loans and Leases (Details Textu
Loans and Leases (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Loans and Leases Receivable [Line Items] | ||
Loan Processing Fee | $ 307 | $ 54 |
Credit Quality Assessment (Deta
Credit Quality Assessment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses, Beginning balance | $ 6,159 | $ 6,428 | $ 4,869 |
Allowance for credit losses, Charge-offs | (2,519) | (2,267) | (661) |
Allowance for credit losses, Recoveries | 142 | 167 | 183 |
Allowance for credit losses, Provision for credit losses | 6,091 | 1,831 | 2,037 |
Allowance for credit losses, Ending balance | 9,873 | 6,159 | 6,428 |
Allowance allocated to Individually Evaluated for Impairment | 2,395 | 910 | 2,155 |
Allowance allocated to Collectively Evaluated for Impairment | 7,478 | 5,249 | 4,273 |
Loans, Ending balance | 1,649,751 | 936,608 | 821,524 |
Loans individually evaluated for impairment | 13,265 | 9,913 | |
Loans collectively evaluated for impairment | 923,343 | 811,611 | |
Legacy Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 1,068,688 | ||
Loans individually evaluated for impairment | 13,362 | ||
Loans collectively evaluated for impairment | 1,055,326 | ||
Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 581,063 | ||
Loans individually evaluated for impairment | 11,398 | ||
Loans collectively evaluated for impairment | 569,665 | ||
Construction and Land [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses, Beginning balance | 735 | 511 | 265 |
Allowance for credit losses, Charge-offs | (202) | (155) | (216) |
Allowance for credit losses, Recoveries | 0 | 6 | 0 |
Allowance for credit losses, Provision for credit losses | 208 | 373 | 462 |
Allowance for credit losses, Ending balance | 741 | 735 | 511 |
Allowance allocated to Individually Evaluated for Impairment | 0 | 202 | 0 |
Allowance allocated to Collectively Evaluated for Impairment | 741 | 533 | 511 |
Loans, Ending balance | 123,671 | 74,398 | 72,973 |
Loans individually evaluated for impairment | 761 | 125 | |
Loans collectively evaluated for impairment | 73,637 | 72,848 | |
Construction and Land [Member] | Legacy Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 87,739 | ||
Loans individually evaluated for impairment | 560 | ||
Loans collectively evaluated for impairment | 87,179 | ||
Construction and Land [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 35,932 | ||
Loans individually evaluated for impairment | 889 | ||
Loans collectively evaluated for impairment | 35,043 | ||
Residential - First Lien [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses, Beginning balance | 668 | 454 | 300 |
Allowance for credit losses, Charge-offs | (142) | (133) | 0 |
Allowance for credit losses, Recoveries | 8 | 0 | 0 |
Allowance for credit losses, Provision for credit losses | 636 | 347 | 154 |
Allowance for credit losses, Ending balance | 1,170 | 668 | 454 |
Allowance allocated to Individually Evaluated for Impairment | 0 | 0 | 7 |
Allowance allocated to Collectively Evaluated for Impairment | 1,170 | 668 | 447 |
Loans, Ending balance | 383,044 | 194,896 | 195,032 |
Loans individually evaluated for impairment | 2,009 | 785 | |
Loans collectively evaluated for impairment | 192,887 | 194,247 | |
Residential - First Lien [Member] | Legacy Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 209,777 | ||
Loans individually evaluated for impairment | 5,184 | ||
Loans collectively evaluated for impairment | 204,593 | ||
Residential - First Lien [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 173,267 | ||
Loans individually evaluated for impairment | 8,075 | ||
Loans collectively evaluated for impairment | 165,192 | ||
Residential - Junior Lien [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses, Beginning balance | 177 | 89 | 47 |
Allowance for credit losses, Charge-offs | (195) | (31) | 0 |
Allowance for credit losses, Recoveries | 10 | 1 | 0 |
Allowance for credit losses, Provision for credit losses | 300 | 118 | 42 |
Allowance for credit losses, Ending balance | 292 | 177 | 89 |
Allowance allocated to Individually Evaluated for Impairment | 0 | 29 | 0 |
Allowance allocated to Collectively Evaluated for Impairment | 292 | 148 | 89 |
Loans, Ending balance | 89,645 | 43,047 | 35,009 |
Loans individually evaluated for impairment | 396 | 37 | |
Loans collectively evaluated for impairment | 42,651 | 34,972 | |
Residential - Junior Lien [Member] | Legacy Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 45,421 | ||
Loans individually evaluated for impairment | 100 | ||
Loans collectively evaluated for impairment | 45,321 | ||
Residential - Junior Lien [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 44,224 | ||
Loans individually evaluated for impairment | 1,037 | ||
Loans collectively evaluated for impairment | 43,187 | ||
Commercial - Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses, Beginning balance | 617 | 327 | 309 |
Allowance for credit losses, Charge-offs | (28) | (235) | (191) |
Allowance for credit losses, Recoveries | 0 | 6 | 40 |
Allowance for credit losses, Provision for credit losses | 146 | 519 | 169 |
Allowance for credit losses, Ending balance | 735 | 617 | 327 |
Allowance allocated to Individually Evaluated for Impairment | 0 | 0 | 0 |
Allowance allocated to Collectively Evaluated for Impairment | 735 | 617 | 327 |
Loans, Ending balance | 234,102 | 170,408 | 134,213 |
Loans individually evaluated for impairment | 508 | 509 | |
Loans collectively evaluated for impairment | 169,900 | 133,704 | |
Commercial - Owner Occupied [Member] | Legacy Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 187,166 | ||
Loans individually evaluated for impairment | 45 | ||
Loans collectively evaluated for impairment | 187,121 | ||
Commercial - Owner Occupied [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 46,936 | ||
Loans individually evaluated for impairment | 1,223 | ||
Loans collectively evaluated for impairment | 45,713 | ||
Commercial - Non-Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses, Beginning balance | 1,410 | 1,120 | 728 |
Allowance for credit losses, Charge-offs | (797) | 0 | 0 |
Allowance for credit losses, Recoveries | 32 | 6 | 5 |
Allowance for credit losses, Provision for credit losses | 3,412 | 284 | 387 |
Allowance for credit losses, Ending balance | 4,057 | 1,410 | 1,120 |
Allowance allocated to Individually Evaluated for Impairment | 2,195 | 11 | 0 |
Allowance allocated to Collectively Evaluated for Impairment | 1,862 | 1,399 | 1,120 |
Loans, Ending balance | 427,747 | 260,802 | 216,781 |
Loans individually evaluated for impairment | 5,867 | 3,148 | |
Loans collectively evaluated for impairment | 254,935 | 213,633 | |
Commercial - Non-Owner Occupied [Member] | Legacy Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 288,927 | ||
Loans individually evaluated for impairment | 5,018 | ||
Loans collectively evaluated for impairment | 283,909 | ||
Commercial - Non-Owner Occupied [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 138,820 | ||
Loans individually evaluated for impairment | 0 | ||
Loans collectively evaluated for impairment | 138,820 | ||
Commercial - Loan and Leases [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses, Beginning balance | 2,529 | 3,800 | 3,094 |
Allowance for credit losses, Charge-offs | (1,092) | (1,605) | (234) |
Allowance for credit losses, Recoveries | 88 | 113 | 101 |
Allowance for credit losses, Provision for credit losses | 1,119 | 221 | 839 |
Allowance for credit losses, Ending balance | 2,644 | 2,529 | 3,800 |
Allowance allocated to Individually Evaluated for Impairment | 200 | 668 | 2,076 |
Allowance allocated to Collectively Evaluated for Impairment | 2,444 | 1,861 | 1,724 |
Loans, Ending balance | 188,729 | 162,715 | |
Loans individually evaluated for impairment | 3,724 | 5,142 | |
Loans collectively evaluated for impairment | 185,005 | 157,573 | |
Commercial - Loan and Leases [Member] | Legacy Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 228,422 | ||
Loans individually evaluated for impairment | 2,455 | ||
Loans collectively evaluated for impairment | 225,967 | ||
Commercial - Loan and Leases [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 108,454 | ||
Loans individually evaluated for impairment | 0 | ||
Loans collectively evaluated for impairment | 108,454 | ||
Consumer Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses, Beginning balance | 23 | 127 | 126 |
Allowance for credit losses, Charge-offs | (63) | (108) | (20) |
Allowance for credit losses, Recoveries | 4 | 35 | 37 |
Allowance for credit losses, Provision for credit losses | 270 | (31) | (16) |
Allowance for credit losses, Ending balance | 234 | 23 | 127 |
Allowance allocated to Individually Evaluated for Impairment | 0 | 0 | 72 |
Allowance allocated to Collectively Evaluated for Impairment | 234 | 23 | 55 |
Loans, Ending balance | 54,666 | 4,328 | 4,801 |
Loans individually evaluated for impairment | 0 | 167 | |
Loans collectively evaluated for impairment | $ 4,328 | $ 4,634 | |
Consumer Loans [Member] | Legacy Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 21,236 | ||
Loans individually evaluated for impairment | 0 | ||
Loans collectively evaluated for impairment | 21,236 | ||
Consumer Loans [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Ending balance | 33,430 | ||
Loans individually evaluated for impairment | 174 | ||
Loans collectively evaluated for impairment | $ 33,256 |
Credit Quality Assessment (De_2
Credit Quality Assessment (Details 1) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | $ 1,649,751 | $ 936,608 | $ 821,524 |
Legacy Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 1,068,688 | ||
Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 581,063 | ||
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 | 1,056,025 | ||
Not Classified [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 565,161 | ||
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 | 3,955 | ||
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 | 12,663 | ||
Substandard [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 11,947 | ||
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 | 123,671 | 74,398 | 72,973 |
Construction and Land [Member] | Legacy Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 87,739 | ||
Construction and Land [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 35,932 | ||
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 | 87,305 | ||
Construction and Land [Member] | Not Classified [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 34,965 | ||
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 | 78 | ||
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 | 434 | ||
Construction and Land [Member] | Substandard [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 889 | ||
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 | 383,044 | 194,896 | 195,032 |
Residential - First Lien [Member] | Legacy Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 209,777 | ||
Residential - First Lien [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 173,267 | ||
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 | 205,573 | ||
Residential - First Lien [Member] | Not Classified [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 165,193 | ||
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 | 4,204 | ||
Residential - First Lien [Member] | Substandard [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 8,074 | ||
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 | 89,645 | 43,047 | 35,009 |
Residential Junior Lien [Member] | Legacy Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 45,421 | ||
Residential Junior Lien [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 44,224 | ||
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 | 45,321 | ||
Residential Junior Lien [Member] | Not Classified [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 43,186 | ||
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 | 100 | ||
Residential Junior Lien [Member] | Substandard [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 1,038 | ||
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 | 234,102 | 170,408 | 134,213 |
Commercial Owner Occupied [Member] | Legacy Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 187,166 | ||
Commercial Owner Occupied [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 46,936 | ||
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 | 187,121 | ||
Commercial Owner Occupied [Member] | Not Classified [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 41,287 | ||
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 | 3,877 | ||
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 | 45 | ||
Commercial Owner Occupied [Member] | Substandard [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 1,772 | ||
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 | 427,747 | 260,802 | 216,781 |
Commercial Non Owner Occupied [Member] | Legacy Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 288,927 | ||
Commercial Non Owner Occupied [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 138,820 | ||
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 | 283,771 | ||
Commercial Non Owner Occupied [Member] | Not Classified [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 138,820 | ||
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 | 5,156 | ||
Commercial Non Owner Occupied [Member] | Substandard [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 0 | ||
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 | 162,715 | |
Commercial Loan and Leases [Member] | Legacy Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 228,422 | ||
Commercial Loan and Leases [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 108,454 | ||
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 | 225,698 | ||
Commercial Loan and Leases [Member] | Not Classified [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 108,454 | ||
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 | 2,724 | ||
Commercial Loan and Leases [Member] | Substandard [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 0 | ||
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 | 54,666 | 4,328 | $ 4,801 |
Consumer Loans [Member] | Legacy Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 21,236 | ||
Consumer Loans [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 33,430 | ||
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 | 21,236 | ||
Consumer Loans [Member] | Not Classified [Member] | Acquired Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Credit quality indicators | 33,256 | ||
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 | 174 | ||
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 (De_3
Credit Quality Assessment (Details 2) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans current | $ 911,783 | |||
Total past due | 12,257 | |||
Non-accrual loans | $ 23,600 | 12,568 | ||
Total loans | 1,649,751 | 936,608 | $ 821,524 | |
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 | 1,045,735 | |||
Total past due | 10,735 | |||
Non-accrual loans | 12,218 | |||
Total loans | 1,068,688 | |||
Legacy Loans [Member] | 30-59 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 6,756 | |||
Legacy Loans [Member] | 60-89 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 3,058 | |||
Legacy Loans [Member] | Greater than 90 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 921 | |||
Acquired Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans current | 568,173 | |||
Total past due | 1,492 | |||
Non-accrual loans | [1] | 11,398 | ||
Total loans | 581,063 | |||
Acquired Loans [Member] | 30-59 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 1,149 | |||
Acquired Loans [Member] | 60-89 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 343 | |||
Acquired 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] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans current | 73,386 | |||
Total past due | 375 | |||
Non-accrual loans | 637 | |||
Total loans | 123,671 | 74,398 | 72,973 | |
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 | 86,788 | |||
Total past due | 517 | |||
Non-accrual loans | 434 | |||
Total loans | 87,739 | |||
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 | 166 | |||
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 | 351 | |||
Construction and Land [Member] | Acquired Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans current | 35,043 | |||
Total past due | 0 | |||
Non-accrual loans | [1] | 889 | ||
Total loans | 35,932 | |||
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 | 383,044 | 194,896 | 195,032 | |
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 | 196,769 | |||
Total past due | 8,804 | |||
Non-accrual loans | 4,204 | |||
Total loans | 209,777 | |||
Residential - First Lien [Member] | Legacy Loans [Member] | 30-59 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 5,993 | |||
Residential - First Lien [Member] | Legacy Loans [Member] | 60-89 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 2,241 | |||
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 | 570 | |||
Residential - First Lien [Member] | Acquired Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans current | 164,752 | |||
Total past due | 440 | |||
Non-accrual loans | [1] | 8,075 | ||
Total loans | 173,267 | |||
Residential - First Lien [Member] | Acquired Loans [Member] | 30-59 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 440 | |||
Residential - First Lien [Member] | Acquired Loans [Member] | 60-89 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 0 | |||
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 | 0 | |||
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 | 89,645 | 43,047 | 35,009 | |
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 | 44,580 | |||
Total past due | 741 | |||
Non-accrual loans | 100 | |||
Total loans | 45,421 | |||
Residential Junior Lien [Member] | Legacy Loans [Member] | 30-59 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 397 | |||
Residential Junior Lien [Member] | Legacy Loans [Member] | 60-89 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 344 | |||
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 | 42,304 | |||
Total past due | 883 | |||
Non-accrual loans | [1] | 1,037 | ||
Total loans | 44,224 | |||
Residential Junior Lien [Member] | Acquired Loans [Member] | 30-59 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 540 | |||
Residential Junior Lien [Member] | Acquired Loans [Member] | 60-89 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 343 | |||
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 | 0 | |||
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 | 234,102 | 170,408 | 134,213 | |
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 | 187,121 | |||
Total past due | 0 | |||
Non-accrual loans | 45 | |||
Total loans | 187,166 | |||
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 | 45,713 | |||
Total past due | 0 | |||
Non-accrual loans | [1] | 1,223 | ||
Total loans | 46,936 | |||
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 | 427,747 | 260,802 | 216,781 | |
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 | 283,601 | |||
Total past due | 308 | |||
Non-accrual loans | 5,018 | |||
Total loans | 288,927 | |||
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 | 308 | |||
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 | 138,696 | |||
Total past due | 124 | |||
Non-accrual loans | [1] | 0 | ||
Total loans | 138,820 | |||
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 | 124 | |||
Commercial Non 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 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 | 162,715 | ||
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 | 225,649 | |||
Total past due | 356 | |||
Non-accrual loans | 2,417 | |||
Total loans | 228,422 | |||
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 | 49 | |||
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 | 307 | |||
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 | 108,409 | |||
Total past due | 45 | |||
Non-accrual loans | [1] | 0 | ||
Total loans | 108,454 | |||
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 | 45 | |||
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 | 54,666 | 4,328 | $ 4,801 | |
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 | 21,227 | |||
Total past due | 9 | |||
Non-accrual loans | 0 | |||
Total loans | 21,236 | |||
Consumer Loan [Member] | Legacy Loans [Member] | 30-59 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 9 | |||
Consumer Loan [Member] | Legacy Loans [Member] | 60-89 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 0 | |||
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 | 33,256 | |||
Total past due | 0 | |||
Non-accrual loans | [1] | 174 | ||
Total loans | 33,430 | |||
Consumer Loan [Member] | Acquired Loans [Member] | 30-59 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 0 | |||
Consumer Loan [Member] | Acquired Loans [Member] | 60-89 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 0 | |||
Consumer Loan [Member] | Acquired Loans [Member] | Greater than 90 days past due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | $ 0 | |||
[1] | First Mariner 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 (De_4
Credit Quality Assessment (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 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 | $ 2,400 | 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 | 13,362 | ||
With an allowance recorded | 3,016 | ||
With no related allowance recorded | 10,346 | ||
Related allowance | 2,395 | ||
Unpaid principal | 14,839 | ||
Average balance of impaired loans | 16,585 | ||
Interest income recognized | 242 | ||
Acquired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded investment | [1] | 11,398 | |
Unpaid principal | 14,832 | ||
Average balance of impaired loans | 14,832 | ||
Interest income recognized | 434 | ||
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 | ||
With an allowance recorded | 0 | ||
With no related allowance recorded | 560 | ||
Related allowance | 0 | ||
Unpaid principal | 761 | ||
Average balance of impaired loans | 761 | ||
Interest income recognized | 0 | ||
Construction and Land [Member] | Acquired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded investment | [1] | 889 | |
Unpaid principal | 1,112 | ||
Average balance of impaired loans | 1,112 | ||
Interest income recognized | 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 | 5,184 | ||
With an allowance recorded | 0 | ||
With no related allowance recorded | 5,184 | ||
Related allowance | 0 | ||
Unpaid principal | 5,224 | ||
Average balance of impaired loans | 6,245 | ||
Interest income recognized | 111 | ||
Residential - First Lien [Member] | Acquired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded investment | [1] | 8,075 | |
Unpaid principal | 9,201 | ||
Average balance of impaired loans | 9,201 | ||
Interest income recognized | 363 | ||
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 | 100 | ||
With an allowance recorded | 0 | ||
With no related allowance recorded | 100 | ||
Related allowance | 0 | ||
Unpaid principal | 99 | ||
Average balance of impaired loans | 91 | ||
Interest income recognized | 2 | ||
Residential Junior Lien [Member] | Acquired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded investment | [1] | 1,037 | |
Unpaid principal | 1,357 | ||
Average balance of impaired loans | 1,357 | ||
Interest income recognized | 49 | ||
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 | 45 | ||
With an allowance recorded | 0 | ||
With no related allowance recorded | 45 | ||
Related allowance | 0 | ||
Unpaid principal | 45 | ||
Average balance of impaired loans | 45 | ||
Interest income recognized | 0 | ||
Commercial Owner Occupied [Member] | Acquired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded investment | [1] | 1,223 | |
Unpaid principal | 1,524 | ||
Average balance of impaired loans | 1,524 | ||
Interest income recognized | 16 | ||
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 | 5,018 | ||
With an allowance recorded | 2,816 | ||
With no related allowance recorded | 2,202 | ||
Related allowance | 2,195 | ||
Unpaid principal | 5,040 | ||
Average balance of impaired loans | 5,085 | ||
Interest income recognized | 5 | ||
Commercial Non Owner Occupied [Member] | Acquired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded investment | [1] | 0 | |
Unpaid principal | 255 | ||
Average balance of impaired loans | 255 | ||
Interest income recognized | 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 | 2,455 | ||
With an allowance recorded | 200 | ||
With no related allowance recorded | 2,255 | ||
Related allowance | 200 | ||
Unpaid principal | 3,670 | ||
Average balance of impaired loans | 4,358 | ||
Interest income recognized | 124 | ||
Commercial Loan and Leases [Member] | Acquired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded investment | [1] | 0 | |
Unpaid principal | 1,198 | ||
Average balance of impaired loans | 1,198 | ||
Interest income recognized | 1 | ||
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 | ||
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] | Acquired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded investment | [1] | 174 | |
Unpaid principal | 185 | ||
Average balance of impaired loans | 185 | ||
Interest income recognized | $ 5 | ||
[1] | First Mariner 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 (De_5
Credit Quality Assessment (Details 4) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($)Number | Dec. 31, 2017USD ($)Number | |
Trouble Debt Restructured Loans [Line Items] | ||
Number of Loans | Number | 5 | 7 |
Non-Accrual Status | $ 3,620 | $ 4,698 |
Number of Loans | Number | 3 | 3 |
Accrual Status | $ 1,107 | $ 620 |
Total TDRs | $ 4,727 | $ 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 | 2 | 2 |
Non-Accrual Status | $ 291 | $ 886 |
Number of Loans | Number | 2 | 1 |
Accrual Status | $ 982 | $ 287 |
Total TDRs | $ 1,273 | $ 1,173 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Trouble Debt Restructured Loans [Line Items] | ||
Number of Loans | Number | 2 | 2 |
Non-Accrual Status | $ 2,815 | $ 2,815 |
Number of Loans | Number | 0 | 0 |
Accrual Status | $ 0 | $ 0 |
Total TDRs | $ 2,815 | $ 2,815 |
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 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 | 0 | 1 |
Accrual Status | $ 0 | $ 208 |
Total TDRs | $ 514 | $ 807 |
Credit Quality Assessment (De_6
Credit Quality Assessment (Details 5) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | $ 4,727 | $ 5,318 |
SEC Schedule, 12-09, Allowance, Loss on Finance Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 2,195 | 62 |
Construction and land And Extension Or Other modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 125 | 125 |
Construction and land And Extension Or Other modification [Member] | SEC Schedule, 12-09, Allowance, Loss on Finance Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 0 | 0 |
Commercial - non-owner occupied Rate modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 2,815 | 2,815 |
Commercial - non-owner occupied Rate modification [Member] | SEC Schedule, 12-09, Allowance, Loss on Finance Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 2,195 | 0 |
Consumer Loans And Extension Or Other Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 293 | |
Consumer Loans And Extension Or Other Modification [Member] | SEC Schedule, 12-09, Allowance, Loss on Finance Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 0 | |
Commercial Loans And Forberances [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 514 | |
Commercial Loans And Forberances [Member] | SEC Schedule, 12-09, Allowance, Loss on Finance Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 32 | |
Residential Real Estate First Lien and Extension Or Other Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 1,273 | 1,173 |
Residential Real Estate First Lien and Extension Or Other Modification [Member] | SEC Schedule, 12-09, Allowance, Loss on Finance Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 0 | 0 |
Residential real estate - Junior Lien Forbearance [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 514 | 398 |
Residential real estate - Junior Lien Forbearance [Member] | SEC Schedule, 12-09, Allowance, Loss on Finance Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 0 | 30 |
Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 3,620 | 4,698 |
Nonperforming Financial Instruments [Member] | Construction and land And Extension Or Other modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 0 | 0 |
Nonperforming Financial Instruments [Member] | Commercial - non-owner occupied Rate modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 2,815 | 2,815 |
Nonperforming Financial Instruments [Member] | Consumer Loans And Extension Or Other Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 85 | |
Nonperforming Financial Instruments [Member] | Commercial Loans And Forberances [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 514 | |
Nonperforming Financial Instruments [Member] | Residential Real Estate First Lien and Extension Or Other Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 291 | 886 |
Nonperforming Financial Instruments [Member] | Residential real estate - Junior Lien Forbearance [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 514 | 398 |
Performing Financial Instruments [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 1,107 | 620 |
Performing Financial Instruments [Member] | Construction and land And Extension Or Other modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 125 | 125 |
Performing Financial Instruments [Member] | Commercial - non-owner occupied Rate modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 0 | 0 |
Performing Financial Instruments [Member] | Consumer Loans And Extension Or Other Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 208 | |
Performing Financial Instruments [Member] | Commercial Loans And Forberances [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 0 | |
Performing Financial Instruments [Member] | Residential Real Estate First Lien and Extension Or Other Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | 982 | 287 |
Performing Financial Instruments [Member] | Residential real estate - Junior Lien Forbearance [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total trouble debt restructure loans | $ 0 | $ 0 |
Credit Quality Assessment (De_7
Credit Quality Assessment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Credit Quality Indicator [Line Items] | |||
Delinquent Loans, Outstanding Nonaccrual Status | $ 24,500 | $ 16,000 | |
Non-Accrual Delinquent Loans Outstanding, Percentage | 1.50% | 1.70% | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 23,600 | $ 12,568 | |
Provision For Other Real Estate Owned | 352 | 581 | $ 83 |
Impaired Financing Receivable Interest Income Non Accrual Method | 1,200 | 898 | 673 |
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 | ||
Gains (Losses) on Sales of Other Real Estate | 64 | 12 | (14) |
Mortgage Loans in Process of Foreclosure, Amount | 960 | ||
Real Estate Owned, Transfer to Real Estate Owned | 917 | $ 0 | $ 256 |
First Mariner Acquisition Bank [Member] | |||
Credit Quality Indicator [Line Items] | |||
Real Estate Owned, Transfer to Real Estate Owned | 3,000 | ||
Two Commercial Real Estae Loan [Member] | |||
Credit Quality Indicator [Line Items] | |||
Gains (Losses) on Sales of Other Real Estate | 50 | ||
Impaired Assets To Be Disposed Of By Sale Carrying Value Of Asset | 611 | ||
Three Residential First Lien Loans Member [Member] | |||
Credit Quality Indicator [Line Items] | |||
Real Estate Owned, Transfer to Real Estate Owned | 917 | ||
Two Commercial Land Parcel [Member] | |||
Credit Quality Indicator [Line Items] | |||
Gains (Losses) on Sales of Other Real Estate | 13 | ||
Impaired Assets To Be Disposed Of By Sale Carrying Value Of Asset | 96 | ||
One Residential Junior Lien Loans [Member] | |||
Credit Quality Indicator [Line Items] | |||
Mortgage Loans in Process of Foreclosure, Amount | $ 22 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Interest Rate Swap With Borrowers [Member] | |
Derivatives, Fair Value [Line Items] | |
Derivative, Notional Amount | $ 3,061 |
Derivative, Gain on Derivative | 100 |
Derivative, Loss on Derivative | 0 |
Interest Rate Swap With Counter party [Member] | |
Derivatives, Fair Value [Line Items] | |
Derivative, Notional Amount | 3,061 |
Derivative, Gain on Derivative | 0 |
Derivative, Loss on Derivative | $ 106 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments | $ 6 |
Interest Rate Swap [Member] | |
Interest Rate Derivatives, at Fair Value, Net | $ 6,200 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Goodwill | $ 70,697 | $ 603 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | $ 11,482 | $ 1,743 |
Core Deposits [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 16,135 | 3,540 |
Accumulated Amortization | 4,653 | 1,797 |
Net Carrying Amount | $ 11,482 | $ 1,743 |
Weighted Average Remaining Life (in Years) | 4 years 8 months 12 days | 5 years 7 months 6 days |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Finite-Lived Intangible Assets [Line Items] | ||
2019 | $ 3,012 | |
2020 | 2,674 | |
2021 | 2,326 | |
2022 | 1,915 | |
2023 | 1,298 | |
Thereafter | 257 | |
Total amortizing intangible assets | $ 11,482 | $ 1,743 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Goodwill | $ 70,697 | $ 603 |
Goodwill, Purchase Accounting Adjustments | $ 1,300 |
Bank Premises and Equipment (De
Bank Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | $ 52,915 | $ 26,078 |
Less: accumulated depreciation and amortization | 7,778 | 6,889 |
Net premises and equipment | 45,137 | 19,189 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | 10,239 | 4,334 |
Building and leasehold improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | 35,571 | 16,384 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | 6,686 | 5,015 |
Computer Software, Intangible Asset [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | $ 419 | $ 345 |
Bank Premises and Equipment (_2
Bank Premises and Equipment (Details 1) $ in Thousands | Dec. 31, 2018USD ($) |
Schedule of Premises and Equipment [Line Items] | |
2019 | $ 2,129 |
2020 | 1,772 |
2021 | 1,613 |
2022 | 1,462 |
2023 | 1,296 |
Thereafter | 3,074 |
Total minimum lease payments | $ 11,346 |
Bank Premises and Equipment (_3
Bank Premises and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of Premises and Equipment [Line Items] | |||
Operating Leases, Rent Expense | $ 3,700 | $ 2,000 | $ 2,300 |
Depreciation and amortization | 2,100 | 1,300 | 1,200 |
Wholly Owned And Subleased Properties [Member] | |||
Disclosure of Premises and Equipment [Line Items] | |||
Rental Income, Nonoperating | $ 554 | $ 387 | $ 290 |
Maximum [Member] | |||
Disclosure of Premises and Equipment [Line Items] | |||
Operating Leases Initial Lease Period | 20 years | ||
Minimum [Member] | |||
Disclosure of Premises and Equipment [Line Items] | |||
Operating Leases Initial Lease Period | 5 years |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deposits [Line Items] | ||
Noninterest-bearing demand | $ 429,200 | $ 218,139 |
Interest-bearing checking | 227,322 | 71,642 |
Money market accounts | 356,130 | 252,453 |
Savings | 134,893 | 52,078 |
Certificates of deposit $250 and over | 82,511 | 9,950 |
Certificates of deposit under $250 | 455,750 | 259,646 |
Total deposits | $ 1,685,806 | $ 863,908 |
Percentage of Noninterest-bearing demand | 26.00% | 26.00% |
Percentage of Interest-bearing checking | 13.00% | 8.00% |
Percentage of Money market accounts | 21.00% | 29.00% |
Percentage of Savings | 8.00% | 6.00% |
Percentage of Certificates of deposit $250 and over | 5.00% | 1.00% |
Percentage of Certificates of deposit under $250 | 27.00% | 30.00% |
Percentage of Total deposits | 100.00% | 100.00% |
Deposits (Details 1)
Deposits (Details 1) $ in Thousands | Dec. 31, 2018USD ($) |
Maturity time deposits [Line Items] | |
2019 | $ 325,483 |
2020 | 128,452 |
2021 | 65,228 |
2022 | 13,385 |
2023 | 5,713 |
Total time deposits | $ 538,261 |
Deposits (Details 2)
Deposits (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest expense on deposits [Line Items] | |||
Interest-bearing checking | $ 554 | $ 168 | $ 132 |
Savings and money market | 2,393 | 1,217 | 1,220 |
Certificates of deposit | 5,593 | 2,612 | 2,118 |
Total | $ 8,540 | $ 3,997 | $ 3,470 |
Short-Term Borrowings (Details)
Short-Term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Short-term Debt [Line Items] | ||
At period end | $ 134,576 | $ 130,385 |
Average for the year | 146,050 | 88,513 |
Maximum month-end balance | $ 322,403 | $ 130,385 |
Rate At period end | 2.08% | 1.35% |
Rate Average for the year | 1.59% | 0.99% |
Short-Term Borrowings (Details
Short-Term Borrowings (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Short-term Debt [Line Items] | ||
Pledged Assets Separately Reported, Securities Pledged for Repurchase Agreements, at Fair Value | $ 16,600 | $ 14,400 |
Short-term Debt | 134,576 | 130,385 |
Loans Pledged as Collateral | $ 518,000 | 330,800 |
US Government Agency Securities [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Debt, Percentage Bearing Fixed Interest Rate | 100.00% | |
Federal Home Loan Bank of Atlanta [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit, Current | $ 345,900 | |
Short-term Debt | $ 118,000 | $ 116,000 |
Long-Term Borrowings (Details)
Long-Term Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 144,000 | $ 20,000 | |
Purchase accounting adjustment on acquired debt | (1,384) | (1,465) | |
Cost of issuance of subordinated debt | (539) | 0 | |
Total long-term borrowings | 142,077 | 18,535 | |
1.99% Due 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [1] | 0 | 15,000 |
2.48% Due 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [2] | 14,000 | 0 |
2.53% Due 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [2] | 15,000 | 0 |
2.67% Due 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [2] | 30,000 | 0 |
2.62% Due 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [2] | 30,000 | 0 |
2.71% Due 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [2] | 25,000 | 0 |
2.48% Due 2035 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [3] | 5,000 | 5,000 |
6.00% Due 2028 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [3] | $ 25,000 | $ 0 |
[1] | Fixed rate advances | ||
[2] | Fixed rate hybrid advances | ||
[3] | Issued subordinated debt. Carrying value net of issuance costs of $24.5 million at December 31, 2018. Initial rate of 6.00% per annum. Subsequent rate adjust quarterly at the rate of three month LIBOR plus 3.02% |
Long-Term Borrowings (Details T
Long-Term Borrowings (Details Textual) - USD ($) | Dec. 06, 2018 | Dec. 31, 2018 |
Subordinated Debt | $ 25,000,000 | |
Proceeds from Issuance of Subordinated Long-term Debt | $ 25,000,000 | |
Subordinated Borrowing, Interest Rate | 6.00% | |
Subordinated Debt Issued [Member] | ||
Line of Credit Facility, Interest Rate Description | LIBOR plus 3.02% | |
Subordinated Debt | $ 24,500,000 | |
Subordinated Borrowing, Interest Rate | 6.00% | |
Subordinated Debt Acquired 2015 [Member] | ||
Line of Credit Facility, Interest Rate Description | LIBOR plus 1.48% | |
Subordinated Debt | $ 3,600,000 | |
Patapsco Bancorp [Member] | ||
Debt Instrument, Face Amount | $ 5,000,000 | |
Debt Instrument, Description of Variable Rate Basis | three month LIBOR plus 1.48% | |
Debt Instrument, Basis Spread on Variable Rate | 1.48% | |
Debt Instrument, Maturity Date | Dec. 31, 2035 | |
Patapsco Bancorp [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument, Face Amount | $ 5,155,000 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Line Items] | |||||||||||
Current federal income tax | $ 0 | $ 3,243 | $ 4,171 | ||||||||
Current state income tax | 0 | 1,038 | (6) | ||||||||
Deferred federal income tax | (627) | (968) | (1,153) | ||||||||
Deferred state income tax | (270) | (161) | (76) | ||||||||
Total income tax expense (benefit) | $ 206 | $ 1,432 | $ (791) | $ (1,744) | $ (6) | $ 1,018 | $ 1,196 | $ 944 | $ (897) | $ 3,152 | $ 2,936 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Line Items] | |||||||||||
Statutory federal income tax (benefit) expense | $ (992) | $ 3,520 | $ 2,801 | ||||||||
State income taxes, net of federal income tax expense | (213) | 579 | 511 | ||||||||
Bank owned life insurance | (162) | (258) | (212) | ||||||||
Acquisition related costs | 316 | 115 | 0 | ||||||||
Revalue of deferred taxes | 0 | 268 | 0 | ||||||||
Correction of error | 0 | (675) | 0 | ||||||||
Other, net | 154 | (397) | (164) | ||||||||
Total income tax (benefit) expense | $ 206 | $ 1,432 | $ (791) | $ (1,744) | $ (6) | $ 1,018 | $ 1,196 | $ 944 | $ (897) | $ 3,152 | $ 2,936 |
Income Taxes (Details 2)
Income Taxes (Details 2) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets: | ||
Net operating loss | $ 35,415 | $ 700 |
Allowance for credit losses | 2,717 | 1,695 |
Valuation on foreclosed real estate | 617 | 851 |
Supplemental executive benefit plans | 782 | 372 |
Stock-based compensation | 29 | 74 |
Deferred loan fees and costs, net | 576 | 15 |
Unrealized loss on securities | 0 | 124 |
Net fair value of acquired assets | 4,007 | 0 |
Depreciation and amortization | 276 | 0 |
Other assets | 605 | 283 |
Total deferred tax assets | 45,024 | 4,114 |
Deferred tax liabilities: | ||
Other net liabilities acquired | 4,827 | 2,443 |
Bank owned life insurance | 4,802 | 0 |
Unrealized gain on securities | 110 | 0 |
Net fair value of acquired liabilities | 0 | 629 |
Depreciation and amortization | 0 | 229 |
Total deferred tax liabilities | 9,739 | 3,301 |
Net deferred tax assets | $ 35,285 | $ 813 |
Income Taxes (Details Textual)
Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Line Items] | |||
Operating Loss Carryforwards, Limitations on Use | The acquired loss carryforwards can be deducted annually from future taxable income through 2038 | ||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 268 | $ 675 | |
Adjustments To Deferred Tax Assets And Liabilities | $ 268 | ||
Income Tax Reconciliation Deductions Deposit Insurance Premiums | $ 10,000,000 | ||
Scenario, Plan [Member] | |||
Income Tax Disclosure [Line Items] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||
Domestic Tax Authority [Member] | |||
Income Tax Disclosure [Line Items] | |||
Operating Loss Carryforwards | $ 123,800 | $ 2,500 | |
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | $ 8,500 |
Related Party Loans and Depos_3
Related Party Loans and Deposits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Related Party Transaction [Line Items] | ||
Balance January 1 | $ 19,297 | $ 20,260 |
Additions | 9,347 | 9,097 |
Change in status | (11,412) | (747) |
Repayments | (10,014) | (9,313) |
Balance December 31 | $ 7,218 | $ 19,297 |
Related Party Loans and Depos_4
Related Party Loans and Deposits (Details Textual) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Related Party Transaction [Line Items] | ||
Loans Receivable from Related Parties, Unfunded Commitments | $ 21.7 | $ 18.5 |
Related Party Deposit Liabilities | $ 52 | $ 12.2 |
Financial Instruments with Of_3
Financial Instruments with Off-Balance Sheet Risk and Contingencies (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Unused Lines of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset | $ 282,822 | $ 138,526 |
Letter of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset | 16,661 | 10,839 |
Unfunded loan commitments [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset | $ 104,466 | $ 81,074 |
Stock Options and Stock Award_2
Stock Options and Stock Awards (Details) - Employee Stock Option [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Shares, Beginning Balance | 30,991 | 123,593 | 137,463 |
Shares, Granted | 0 | 0 | 0 |
Shares, Exercised | (9,123) | (27,113) | (3,020) |
Shares, Forfeited | (6,600) | (65,489) | (10,850) |
Shares, Ending Balance | 15,268 | 30,991 | 123,593 |
Shares, Exercisable at period end | 15,268 | 30,991 | 123,593 |
Weighted Average Exercise Price, Beginning Balance | $ 9.69 | $ 12.36 | $ 12.30 |
Weighted Average Exercise Price, Granted | 0 | 0 | 0 |
Weighted Average Exercise Price, Exercised | 10.63 | 11.67 | 11.64 |
Weighted Average Exercise Price, Forfeited | 10.52 | 13.92 | 11.77 |
Weighted Average Exercise Price, Ending Balance | 8.76 | 9.69 | 12.36 |
Weighted Average Exercise Price, Exercisable at period end | 8.76 | 9.69 | 12.36 |
Weighted average fair value of options granted during the year | $ 0 | $ 0 | $ 0 |
Stock Options and Stock Award_3
Stock Options and Stock Awards (Details 1) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Shares, Beginning Balance | 52,155 | 65,491 | 74,828 |
Shares, Granted | 20,732 | 18,500 | 27,000 |
Shares, Vested | (54,542) | (31,836) | (17,838) |
Shares, Forfeited | (8,614) | 0 | (18,499) |
Shares, Ending Balance | 9,731 | 52,155 | 65,491 |
Weighted Average Grant Date Fair Value, Beginning Balance | $ 15.09 | $ 13.23 | $ 13.21 |
Weighted Average Grant Date Fair Value, Granted | 19.90 | 17.41 | 12.91 |
Weighted Average Grant Date Fair Value, Vested | 16.63 | 12.60 | 12.95 |
Weighted Average Grant Date Fair Value, Forfeited | 14.41 | 0 | 12.96 |
Weighted Average Grant Date Fair Value, Ending Balance | $ 17.29 | $ 15.09 | $ 13.23 |
Stock Options and Stock Award_4
Stock Options and Stock Awards (Details 2) - Restricted Stock Units (RSUs) [Member] $ in Thousands | Dec. 31, 2018USD ($) |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 114 |
2019 [Member] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | 84 |
2020 [Member] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 30 |
Stock Options and Stock Award_5
Stock Options and Stock Awards (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Director [Member] | |||
Allocated Share-based Compensation Expense | $ 217 | $ 205 | $ 160 |
Restricted Stock Units (RSUs) [Member] | |||
Allocated Share-based Compensation Expense | $ 656 | $ 490 | $ 239 |
Stock Options and Stock Award_6
Stock Options and Stock Awards (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable Fair Market Value | $ 14.30 | $ 22 | $ 15.10 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 85 | $ 382 | $ 338 |
Share-based Goods and Nonemployee Services Transaction, Shares Approved for Issuance | 11,868 | 11,404 | 7,241 |
Proceeds from Stock Options Exercised | $ 97 | $ 316 | $ 35 |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 20,732 | 27,000 | |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 18,500 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 114 |
Benefit Plans (Details Textual)
Benefit Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
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 | $ 1,100 | $ 766 | $ 575 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 250,000 | ||
2017 Employee Stock Purchase Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Allocated Share-based Compensation Expense | $ 11 | ||
Supplemental Executive Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Benefit Description | Under defined benefit SERP, Mary Ann 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, Contributions by Employer | $ 279 | $ 275 | $ 243 |
Accrued Liabilities | $ 1,500 | $ 1,200 | |
Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent | 4.00% |
Income per Common Share (Detail
Income per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share Basic And Diluted [Line Items] | |||||||||||
Net (loss) income | $ (3,828) | $ 7,200 | $ 5,303 | ||||||||
Preferred stock dividends | 0 | 0 | 166 | ||||||||
Net income available to common shareholders (numerator) | $ 145 | $ 3,979 | $ (2,277) | $ (5,675) | $ 1,883 | $ 1,713 | $ 2,038 | $ 1,566 | $ (3,828) | $ 7,200 | $ 5,137 |
BASIC | |||||||||||
Basic average common shares outstanding (denominator) | 17,556,554 | 9,555,952 | 6,975,662 | ||||||||
Basic (loss) income per common share | $ 0.01 | $ 0.21 | $ (0.12) | $ (0.43) | $ 0.19 | $ 0.17 | $ 0.21 | $ 0.18 | $ (0.22) | $ 0.75 | $ 0.74 |
DILUTED | |||||||||||
Average common shares outstanding | 19,035,316 | 19,025,855 | 19,002,851 | 13,080,614 | 9,815,228 | 9,808,542 | 9,779,772 | 8,806,404 | 17,556,554 | 9,555,952 | 6,975,662 |
Dilutive effect of common stock equivalents | 0 | 40,852 | 23,320 | ||||||||
Diluted average common shares outstanding (denominator) | 19,041,880 | 19,035,192 | 19,002,851 | 13,080,614 | 9,858,809 | 9,854,822 | 9,822,165 | 8,856,763 | 17,556,554 | 9,596,804 | 6,998,982 |
Diluted (loss) income per common share | $ 0.01 | $ 0.21 | $ (0.12) | $ (0.43) | $ 0.19 | $ 0.17 | $ 0.21 | $ 0.18 | $ (0.22) | $ 0.75 | $ 0.73 |
Common stock equivalents were excluded from the calculation of diluted average shares | 14,740 | 74,051 |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Thousands | Dec. 31, 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) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 10.00% | ||
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 | $ 212,099 | $ 125,019 | |
Total capital (to risk-weighted assets) Actual ratio | 11.80% | 12.39% | |
Total capital (to risk-weighted assets) For capital adequacy purposes amount | $ 143,810 | $ 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 | $ 179,762 | $ 100,900 | |
Total capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 10.00% | 10.00% | |
Tier 1 capital (to risk-weighted assets) Actual amount | $ 202,226 | $ 118,860 | |
Tier 1 capital (to risk-weighted assets) Actual ratio | 11.25% | 11.78% | |
Common equity tier 1 capital (to risk-weighted assets) Actual amount | $ 202,226 | $ 118,860 | |
Common equity tier 1 capital (to risk-weighted assets) Actual ratio | 11.25% | 11.78% | |
Common equity tier 1 capital (to risk-weighted assets) For capital adequacy purposes amount | $ 80,893 | $ 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 | $ 116,846 | $ 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) For capital adequacy purposes amount | $ 107,857 | $ 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 | $ 143,810 | $ 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 | $ 202,226 | $ 118,860 | |
Tier 1 capital (to average assets) Actual ratio | 9.84% | 10.70% | |
Tier 1 capital (to average assets) For capital adequacy purposes amount | $ 82,212 | $ 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 | $ 102,765 | $ 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 | $ 218,425 | $ 139,673 | |
Total capital (to risk-weighted assets) Actual ratio | 12.14% | 13.72% | |
Total capital (to risk-weighted assets) For capital adequacy purposes amount | $ 143,889 | $ 81,456 | |
Total capital (to risk-weighted assets) For capital adequacy purposes ratio | 8.00% | 8.00% | |
Tier 1 capital (to risk-weighted assets) Actual amount | $ 179,935 | $ 129,979 | |
Tier 1 capital (to risk-weighted assets) Actual ratio | 10.00% | 12.77% | |
Common equity tier 1 capital (to risk-weighted assets) Actual amount | $ 179,935 | $ 129,979 | |
Common equity tier 1 capital (to risk-weighted assets) Actual ratio | 10.00% | 12.77% | |
Common equity tier 1 capital (to risk-weighted assets) For capital adequacy purposes amount | $ 80,938 | $ 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) For capital adequacy purposes amount | $ 107,917 | $ 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 | $ 179,935 | $ 129,979 | |
Tier 1 capital (to average assets) Actual ratio | 8.77% | 11.70% | |
Tier 1 capital (to average assets) For capital adequacy purposes amount | $ 82,046 | $ 44,439 | |
Tier 1 capital (to average assets) For capital adequacy purposes ratio | 4.00% | 4.00% |
Regulatory Matters (Details Tex
Regulatory Matters (Details Textual) | 1 Months Ended | 12 Months Ended | |
Jan. 31, 2016 | Dec. 31, 2018 | Jan. 31, 2015 | |
Schedule of regulatory matters [Line Items] | |||
Derivatives Credit Risk | 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 | ||
Well Capitalized Cet 1 Ratio | 6.50% | ||
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 | 10.00% | ||
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, 2016, applies to all depository institutions, top-tier bank holding companies with total consolidated assets of $1 billion or more and top-tier savings and loan holding companies. |
Preferred Stock (Details Textua
Preferred Stock (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |
Sep. 22, 2011 | Dec. 31, 2018 | May 06, 2016 | |
Preferred Stock [Line Items] | |||
Preferred Stock, Value, Issued | $ 12,562,000 | ||
Second Through Tenth Dividend Periods [Member] | Maximum [Member] | |||
Preferred Stock [Line Items] | |||
Preferred Stock, Dividend Rate, Percentage | 5.00% | ||
Second Through Tenth Dividend Periods [Member] | Minimum [Member] | |||
Preferred Stock [Line Items] | |||
Preferred Stock, Dividend Rate, Percentage | 1.00% | ||
Eleventh through Nineteenth Dividend Periods [Member] | Maximum [Member] | |||
Preferred Stock [Line Items] | |||
Preferred Stock, Dividend Rate, Percentage | 7.00% | ||
Eleventh through Nineteenth Dividend Periods [Member] | Minimum [Member] | |||
Preferred Stock [Line Items] | |||
Preferred Stock, Dividend Rate, Percentage | 1.00% | ||
Series AA Preferred Stock Remains Outstanding for More than Four and One Half Years [Member] | |||
Preferred Stock [Line Items] | |||
Preferred Stock, Dividend Rate, Percentage | 9.00% | ||
Small Business Lending Fund Program [Member] | |||
Preferred Stock [Line Items] | |||
Funds Raised from Small Business Act | $ 30,000,000,000 | $ 10,000,000,000 | |
Qualified Small Business Lending [Member] | |||
Preferred Stock [Line Items] | |||
Preferred Stock, Dividend Rate, Percentage | 5.00% | ||
Senior Non Cumulative Perpetual Preferred Stock Series AA [Member] | |||
Preferred Stock [Line Items] | |||
Preferred Stock, Shares Issued | 12,562 | 12,562 | |
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ 1,000 | ||
Preferred Stock, Value, Issued | $ 12,562,000 |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | $ 223,858 | $ 74,256 | |
Loans held for sale | 21,261 | 42,153 | |
Loans held for investment | 1,303 | 1,509 | |
Interest rate swap assets | 100 | ||
Liabilities | |||
Interest rate swap liabilities | 106 | ||
U.S. Government agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 130,397 | 67,740 | |
Mortgage backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 90,460 | 2,479 | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | 21,261 | 42,153 | |
Loans held for investment | 1,303 | 1,509 | |
Rate lock commitments | 126 | 451 | |
Interest rate swap assets | 100 | ||
Liabilities | |||
Interest rate swap liabilities | 106 | ||
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 | 130,397 | 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 | 1,494 | ||
Fair Value, Measurements, Recurring [Member] | Mortgage backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment securities | 90,460 | 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 | 3,001 | 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 | |
Interest rate swap assets | 0 | ||
Liabilities | |||
Interest rate swap liabilities | 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 | |
Interest rate swap assets | 0 | ||
Liabilities | |||
Interest rate swap liabilities | 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 | ||
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 | ||
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 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for investment | 1,303 | 1,509 | |
Interest rate swap assets | 100 | ||
Liabilities | |||
Interest rate swap liabilities | 106 | ||
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 | 21,261 | 42,153 | |
Loans held for investment | 1,303 | 1,509 | |
Rate lock commitments | 0 | 0 | |
Interest rate swap assets | 100 | ||
Liabilities | |||
Interest rate swap liabilities | 106 | ||
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 | 130,397 | 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 | 1,494 | ||
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 | 90,460 | 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 | 3,001 | 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 | 126 | 530 | $ 528 |
Interest rate swap assets | 0 | ||
Liabilities | |||
Interest rate swap liabilities | 0 | ||
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 | 126 | 451 | |
Interest rate swap assets | 0 | ||
Liabilities | |||
Interest rate swap liabilities | 0 | ||
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 | ||
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 | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance, beginning of period | $ 530 | $ 528 |
Privately held equity investment | (72) | 79 |
Net gains (losses) included in realized and unrealized gains on mortgage banking activity in noninterest income | (332) | (77) |
Balance, end of period | $ 126 | $ 530 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Loans held for investment Fair value | $ 1,303 | $ 1,509 |
Loans held for sale [Member] | ||
Carrying Fair Value Amount, Loans held for sale | 21,261 | 42,153 |
Aggregate Unpaid Principal, Loans held for sale | 20,785 | 40,990 |
Difference,Loans held for sale | 476 | 1,163 |
Aggregate Unpaid Principal, Loans held for investment | 476 | 1,163 |
Loans held for investment [Member] | ||
Difference,Loans held for sale | 1,342 | 1,476 |
Loans held for investment Fair value | 1,303 | 1,509 |
Aggregate Unpaid Principal, Loans held for investment | 1,342 | 1,476 |
Difference, Loans held for investment | $ (39) | $ 33 |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | $ 4,392 | $ 1,549 |
Impaired loans | 21,261 | 42,153 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | 6,600 | 4,600 |
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 | 4,392 | 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 | 1,449 | 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 | 13,259 | 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 | 1,137 | 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 | 1,268 | 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 | 2,823 | 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 | 2,255 | 3,056 |
Fair Value, Measurements, Nonrecurring [Member] | Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 174 | 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 [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] | 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 [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, 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 | 4,392 | 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 | 1,449 | 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 | 13,259 | 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 | 1,137 | 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 | 1,268 | 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 | 2,823 | 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 | 2,255 | 3,056 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 174 | $ 0 |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Financial Assets | |||
Available for sale securities, Carrying Value | $ 223,858 | $ 74,256 | |
Held to maturity securities, Carrying Value | 9,250 | 9,250 | |
Nonmarketable equity securities, Carrying Value | 11,786 | 6,492 | |
Loans held for sale, Carrying Value | 21,261 | 42,153 | |
Loans held for investment, Carrying Value | 1,303 | 1,509 | |
Rate lock commitments, Carrying Value | 126 | 451 | |
Loans and leases, Carrying Value | [1] | 1,638,575 | 928,940 |
Interest rate swap, Carrying Value | 100 | ||
Available for sale securities, Fair value | 223,858 | 74,256 | |
Held to maturity securities, Fair Value | 9,253 | 9,421 | |
Nonmarketable equity securities, Fair value | 11,786 | 6,492 | |
Loans held for sale, Fair value | 21,261 | 42,153 | |
Loans held for investment, Fair Value | 1,303 | 1,509 | |
Rate lock commitments, Fair Value | 126 | 451 | |
Loans and leases, Fair value | [1] | 1,613,506 | 925,510 |
Interest rate swap, Fair Value | 100 | ||
Financial Liabilities | |||
Deposits, Carrying Value | 1,685,806 | 863,908 | |
Short-term borrowings, Carrying Value | 134,576 | 130,385 | |
Long-term borrowings, Carrying Value | 142,077 | 18,535 | |
Interest rate swap, Carrying Value | 106 | ||
Deposits, Fair value | 1,681,295 | 865,182 | |
Short-term borrowings, Fair value | 134,576 | 130,385 | |
Long-term borrowings, Fair value | 142,296 | 18,538 | |
Interest rate swap, Fair Value | 106 | ||
Fair Value, Inputs, Level 1 [Member] | |||
Financial Assets | |||
Available for sale securities, Fair value | 0 | 0 | |
Held to maturity securities, Fair Value | 0 | 0 | |
Nonmarketable equity securities, Fair value | 0 | 0 | |
Loans held for sale, Fair value | 0 | 0 | |
Loans held for investment, Fair Value | 0 | 0 | |
Rate lock commitments, Fair Value | 0 | 0 | |
Loans and leases, Fair value | [1] | 0 | 0 |
Interest rate swap, Fair Value | 0 | ||
Financial Liabilities | |||
Deposits, Carrying Value | 0 | ||
Short-term borrowings, Carrying Value | 0 | ||
Long-term borrowings, Carrying Value | 0 | ||
Deposits, Fair value | 0 | ||
Short-term borrowings, Fair value | 0 | ||
Long-term borrowings, Fair value | 0 | ||
Interest rate swap, Fair Value | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Financial Assets | |||
Available for sale securities, Fair value | 223,858 | 74,177 | |
Held to maturity securities, Fair Value | 0 | 0 | |
Nonmarketable equity securities, Fair value | 11,786 | 6,492 | |
Loans held for sale, Fair value | 21,261 | 42,153 | |
Loans held for investment, Fair Value | 1,303 | 1,509 | |
Rate lock commitments, Fair Value | 0 | 0 | |
Loans and leases, Fair value | [1] | 0 | 0 |
Interest rate swap, Fair Value | 100 | ||
Financial Liabilities | |||
Deposits, Carrying Value | 865,182 | ||
Short-term borrowings, Carrying Value | 130,385 | ||
Long-term borrowings, Carrying Value | 18,538 | ||
Deposits, Fair value | 1,681,295 | ||
Short-term borrowings, Fair value | 134,576 | ||
Long-term borrowings, Fair value | 142,296 | ||
Interest rate swap, Fair Value | 106 | ||
Fair Value, Inputs, Level 3 [Member] | |||
Financial Assets | |||
Available for sale securities, Fair value | 0 | 79 | |
Held to maturity securities, Fair Value | 9,253 | 9,421 | |
Nonmarketable equity securities, Fair value | 0 | 0 | |
Loans held for sale, Fair value | 0 | 0 | |
Loans held for investment, Fair Value | 0 | 0 | |
Rate lock commitments, Fair Value | 126 | 451 | |
Loans and leases, Fair value | [1] | 1,613,506 | 925,510 |
Interest rate swap, Fair Value | 0 | ||
Financial Liabilities | |||
Deposits, Carrying Value | 0 | ||
Short-term borrowings, Carrying Value | 0 | ||
Long-term borrowings, Carrying Value | $ 0 | ||
Deposits, Fair value | 0 | ||
Short-term borrowings, Fair value | 0 | ||
Long-term borrowings, Fair value | 0 | ||
Interest rate swap, Fair Value | $ 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 December 31, 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 | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate | $ 4,392 | $ 1,549 | |
Impaired Financing Receivable, Related Allowance | 2,400 | 910 | |
Other Real Estate, Period Increase (Decrease) | 352 | 581 | |
Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate | 6,600 | 4,600 | |
Other Real Estate, Valuation Adjustments | $ 2,200 | 3,100 | |
Impairment Calculation Method, Description | Various techniques are used to value OREO and impaired loans.  All loans where 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 | 80.00% | ||
Interest Rate Lock Commitments [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Pull Through Rate | 90.00% | ||
Held For Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ (181) | 62 | $ 69 |
Held For Investment [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ (71) | $ 247 |
Revenue Recognition (Details)
Revenue Recognition (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 2,216 | $ 923 | $ 694 | ||||||||
Other | 5,624 | 5,722 | 3,903 | ||||||||
Noninterest Income | $ 3,683 | $ 3,856 | $ 5,617 | $ 4,704 | $ 4,669 | $ 5,085 | $ 5,311 | $ 4,459 | 17,860 | 19,524 | 14,796 |
Service charges on deposit accounts [Member] | |||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 595 | 239 | 165 | ||||||||
Fees and other services charges [Member] | |||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 2,404 | 954 | 813 | ||||||||
Accounting Standards Update 2014-09 [Member] | |||||||||||
Noninterest Income | 17,860 | 19,524 | 14,796 | ||||||||
Accounting Standards Update 2014-09 [Member] | Non interest income in scope of topic 606 [Member] | |||||||||||
Other | 70 | 57 | 58 | ||||||||
Noninterest Income | 3,069 | 1,250 | 1,036 | ||||||||
Accounting Standards Update 2014-09 [Member] | Non interest income out of scope of topic 606 [Member] | |||||||||||
Noninterest Income | $ 14,791 | $ 18,274 | $ 13,760 |
Parent Company Financial Info_3
Parent Company Financial Information (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||||
Cash and cash equivalents | $ 101,498 | $ 28,972 | $ 39,366 | $ 38,340 |
Total assets | 2,266,514 | 1,149,950 | ||
LIABILITIES | ||||
Short-term borrowings | 134,576 | 130,385 | ||
Long-term borrowings | 142,077 | 18,535 | ||
Total liabilities | 1,971,831 | 1,017,697 | ||
SHAREHOLDERS' EQUITY | ||||
Common stock-par value of $0.01 authorized 20,000,000 shares; issued and outstanding 19,039,347 shares at December 31, 2018 and 9,820,592 at December 31, 2017 | 190 | 98 | ||
Capital surplus | 275,843 | 110,387 | ||
Retained earnings | 18,277 | 22,105 | ||
Accumulated other comprehensive income (loss) | 373 | (337) | ||
Total shareholders' equity | 294,683 | 132,253 | 85,790 | |
Total liabilities and shareholders'equity | 2,266,514 | 1,149,950 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 6,843 | 15,699 | $ 12,235 | $ 12,432 |
Investment in subsidiaries | 316,771 | 121,374 | ||
Other assets | 293 | 0 | ||
Total assets | 323,907 | 137,073 | ||
LIABILITIES | ||||
Short-term borrowings | 972 | 817 | ||
Long-term borrowings | 28,077 | 3,535 | ||
Other liabilities | 175 | 468 | ||
Total liabilities | 29,224 | 4,820 | ||
SHAREHOLDERS' EQUITY | ||||
Common stock-par value of $0.01 authorized 20,000,000 shares; issued and outstanding 19,039,347 shares at December 31, 2018 and 9,820,592 at December 31, 2017 | 190 | 98 | ||
Capital surplus | 275,843 | 110,387 | ||
Retained earnings | 18,277 | 22,105 | ||
Accumulated other comprehensive income (loss) | 373 | (337) | ||
Total shareholders' equity | 294,683 | 132,253 | ||
Total liabilities and shareholders'equity | $ 323,907 | $ 137,073 |
Parent Company Financial Info_4
Parent Company Financial Information (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
INTEREST INCOME | |||||||||||
Interest on securities | $ 4,297 | $ 1,416 | $ 691 | ||||||||
Other interest income | 1,083 | 397 | 185 | ||||||||
INTEREST EXPENSE | |||||||||||
Short-term borrowings | 2,327 | 876 | 595 | ||||||||
Long-term borrowings | 2,904 | 294 | 497 | ||||||||
NET INTEREST EXPENSE | $ 17,943 | $ 18,647 | $ 17,880 | $ 12,148 | $ 9,856 | $ 9,755 | $ 9,497 | $ 8,751 | 66,618 | 37,859 | 34,179 |
NONINTEREST INCOME | |||||||||||
Gain on the sale of portfolio loans | (364) | 0 | 96 | ||||||||
NONINTEREST EXPENSE | |||||||||||
Compensation and benefits | 33,674 | 23,573 | 19,034 | ||||||||
Other operating expense | 5,246 | 3,116 | 3,286 | ||||||||
Total noninterest expense | 18,425 | 16,396 | 25,140 | 23,151 | 11,848 | 11,618 | 11,234 | 10,500 | 83,112 | 45,200 | 38,699 |
Loss before income tax and equity in undistributed loss of subsidiary | 351 | 5,411 | (3,068) | (7,419) | 1,877 | 2,731 | 3,234 | 2,510 | (4,725) | 10,352 | 8,239 |
Income tax benefit | 206 | 1,432 | (791) | (1,744) | (6) | 1,018 | 1,196 | 944 | (897) | 3,152 | 2,936 |
Net income (loss) | (3,828) | 7,200 | 5,303 | ||||||||
Preferred stock dividends | 0 | 0 | 166 | ||||||||
Net income available to common shareholders | $ 145 | $ 3,979 | $ (2,277) | $ (5,675) | $ 1,883 | $ 1,713 | $ 2,038 | $ 1,566 | (3,828) | 7,200 | 5,137 |
Parent Company [Member] | |||||||||||
INTEREST INCOME | |||||||||||
Interest on securities | 0 | 0 | 1 | ||||||||
Other interest income | 1 | 0 | 0 | ||||||||
INTEREST EXPENSE | |||||||||||
Short-term borrowings | 6 | 49 | 300 | ||||||||
Long-term borrowings | 376 | 216 | 196 | ||||||||
NET INTEREST EXPENSE | (381) | (265) | (495) | ||||||||
NONINTEREST INCOME | |||||||||||
Gain on the sale of portfolio loans | 0 | 0 | 96 | ||||||||
NONINTEREST EXPENSE | |||||||||||
Compensation and benefits | 268 | 490 | 306 | ||||||||
Other operating expense | 42 | 73 | 192 | ||||||||
Total noninterest expense | 310 | 563 | 498 | ||||||||
Loss before income tax and equity in undistributed loss of subsidiary | (691) | (828) | (897) | ||||||||
Income tax benefit | (176) | (349) | (305) | ||||||||
Loss before equity in undistributed income of subsidiary | (515) | (479) | (592) | ||||||||
Equity in undistributed income (loss) of subsidiary | (3,313) | 7,679 | 5,895 | ||||||||
Net income (loss) | (3,828) | 7,200 | 5,303 | ||||||||
Preferred stock dividends | 0 | 0 | 166 | ||||||||
Net income available to common shareholders | $ (3,828) | $ 7,200 | $ 5,137 |
Parent Company Financial Info_5
Parent Company Financial Information (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income (loss) | $ (3,828) | $ 7,200 | $ 5,303 |
Adjustments to reconcile net income (loss) to net cash from operating activities: | |||
Deferred income taxes (benefits) | (3,468) | (1,132) | (1,229) |
Share-based compensation | 873 | 695 | 399 |
Gain on sales of securities | 364 | 0 | (96) |
(Increase) decrease in other assets | 5,493 | (1,372) | (817) |
Increase (decrease) in other liabilities | 1,464 | (293) | 1,460 |
Net cash (used in) provided by operating activities | 54,811 | 16,902 | 2,307 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Cash paid for acquisition | 38,889 | 0 | 0 |
Net cash (used in) provided by investing activities | (31,314) | (142,514) | (78,660) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Net (decrease) increase increase in short-term borrowings | (180,829) | 23,329 | 37,935 |
Proceeds from issuance of long-tern debt | 123,543 | 15,016 | 2,810 |
Net proceeds from issuance of common stock, net of cost | 97 | 38,699 | 35 |
Cash dividends on preferred stock | 0 | 0 | (166) |
Net cash provided by (used in) financing activities | 49,029 | 115,218 | 77,379 |
Net increase (decrease) in cash and cash equivalents | 72,526 | (10,394) | 1,026 |
Cash and cash equivalents at beginning of period | 28,972 | 39,366 | 38,340 |
Cash and cash equivalents at end of period | 101,498 | 28,972 | 39,366 |
Parent Company [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income (loss) | (3,828) | 7,200 | 5,303 |
Adjustments to reconcile net income (loss) to net cash from operating activities: | |||
Deferred income taxes (benefits) | (117) | (115) | (60) |
Share-based compensation | 873 | 695 | 399 |
Gain on sales of securities | 0 | 0 | (96) |
Equity in undistributed loss (income) of subsidiary | 3,313 | (7,679) | (5,895) |
(Increase) decrease in other assets | (293) | 40 | 101 |
Increase (decrease) in other liabilities | (176) | 84 | (2) |
Net cash (used in) provided by operating activities | (228) | 225 | (250) |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Proceeds from sale of investment securities available-for-sale | 0 | 0 | 196 |
Cash paid for acquisition | (9,245) | 0 | 0 |
Investment in subsidiary | (24,177) | (23,000) | 0 |
Net cash (used in) provided by investing activities | (33,422) | (23,000) | 196 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Net (decrease) increase increase in short-term borrowings | 155 | (12,542) | 12,468 |
Proceeds from issuance of long-tern debt | 24,542 | 82 | 82 |
Net proceeds from issuance of common stock, net of cost | 97 | 38,699 | 35 |
Redemption of preferred stock | 0 | 0 | (12,562) |
Cash dividends on preferred stock | 0 | 0 | (166) |
Net cash provided by (used in) financing activities | 24,794 | 26,239 | (143) |
Net increase (decrease) in cash and cash equivalents | (8,856) | 3,464 | (197) |
Cash and cash equivalents at beginning of period | 15,699 | 12,235 | 12,432 |
Cash and cash equivalents at end of period | $ 6,843 | $ 15,699 | $ 12,235 |
Parent Company Financial Info_6
Parent Company Financial Information (Details Textual) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Parent Company Financial Information Disclosure [Line Items] | ||
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 | 19,039,347 | 9,820,592 |
Common Stock, Shares, Outstanding | 19,039,347 | 9,820,592 |
Parent Company [Member] | ||
Parent Company Financial Information Disclosure [Line Items] | ||
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 | 19,039,347 | 9,820,592 |
Common Stock, Shares, Outstanding | 19,039,347 | 9,820,592 |
Quarterly Financial Results (_3
Quarterly Financial Results (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Quarterly Financial Information [Line Items] | |||||||||||
Interest income | $ 22,428 | $ 22,436 | $ 21,165 | $ 14,360 | $ 11,338 | $ 11,112 | $ 10,708 | $ 9,868 | |||
Interest expense | 4,485 | 3,789 | 3,285 | 2,212 | 1,482 | 1,357 | 1,211 | 1,117 | $ 13,771 | $ 5,167 | $ 4,562 |
Net interest income | 17,943 | 18,647 | 17,880 | 12,148 | 9,856 | 9,755 | 9,497 | 8,751 | 66,618 | 37,859 | 34,179 |
Provision for loan losses | 2,850 | 696 | 1,425 | 1,120 | 800 | 491 | 340 | 200 | |||
Noninterest income | 3,683 | 3,856 | 5,617 | 4,704 | 4,669 | 5,085 | 5,311 | 4,459 | 17,860 | 19,524 | 14,796 |
Noninterest expense | 18,425 | 16,396 | 25,140 | 23,151 | 11,848 | 11,618 | 11,234 | 10,500 | 83,112 | 45,200 | 38,699 |
Net income before income taxes | 351 | 5,411 | (3,068) | (7,419) | 1,877 | 2,731 | 3,234 | 2,510 | (4,725) | 10,352 | 8,239 |
Income (benefit) tax expenses | 206 | 1,432 | (791) | (1,744) | (6) | 1,018 | 1,196 | 944 | (897) | 3,152 | 2,936 |
Net income available to common shareholders | $ 145 | $ 3,979 | $ (2,277) | $ (5,675) | $ 1,883 | $ 1,713 | $ 2,038 | $ 1,566 | $ (3,828) | $ 7,200 | $ 5,137 |
Net income per common share, basic | $ 0.01 | $ 0.21 | $ (0.12) | $ (0.43) | $ 0.19 | $ 0.17 | $ 0.21 | $ 0.18 | $ (0.22) | $ 0.75 | $ 0.74 |
Net income per common share, diluted | $ 0.01 | $ 0.21 | $ (0.12) | $ (0.43) | $ 0.19 | $ 0.17 | $ 0.21 | $ 0.18 | $ (0.22) | $ 0.75 | $ 0.73 |
Average common shares outstanding | 19,035,316 | 19,025,855 | 19,002,851 | 13,080,614 | 9,815,228 | 9,808,542 | 9,779,772 | 8,806,404 | 17,556,554 | 9,555,952 | 6,975,662 |
Diluted average common shares outstanding | 19,041,880 | 19,035,192 | 19,002,851 | 13,080,614 | 9,858,809 | 9,854,822 | 9,822,165 | 8,856,763 | 17,556,554 | 9,596,804 | 6,998,982 |