Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 16, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | First Guaranty Bancshares, Inc. | |
Entity Central Index Key | 1,408,534 | |
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 | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 6,891,332 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 |
CONSOLIDATED BALANCE SHEETS (un
CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 17,367 | $ 44,365 |
Federal funds sold | 282 | 210 |
Cash and cash equivalents | 17,649 | 44,575 |
Interest-earning time deposits with banks | 1,747 | 10,247 |
Investment securities: | ||
Available for sale, at fair value | 301,330 | 499,808 |
Held to maturity, at cost (estimated fair value of $216,586 and $139,688 respectively) | 216,424 | 141,795 |
Investment securities | 517,754 | 641,603 |
Federal Home Loan Bank stock, at cost | 915 | 1,621 |
Loans, net of unearned income | 856,734 | 790,321 |
Less: allowance for loan losses | 9,813 | 9,105 |
Net loans | 846,921 | 781,216 |
Premises and equipment, net | 20,741 | 19,211 |
Goodwill | 1,999 | 1,999 |
Intangible assets, net | 1,478 | 1,733 |
Other real estate, net | 2,338 | 2,198 |
Accrued interest receivable | 6,477 | 6,384 |
Other assets | 10,741 | 8,089 |
Total Assets | 1,428,760 | 1,518,876 |
Deposits: | ||
Noninterest-bearing demand | 208,505 | 207,969 |
Interest-bearing demand | 362,875 | 432,294 |
Savings | 80,542 | 74,550 |
Time | 620,217 | 657,026 |
Total deposits | 1,272,139 | 1,371,839 |
Short-term borrowings | 1,800 | 1,800 |
Accrued interest payable | 1,951 | 1,997 |
Long-term borrowings | 1,006 | 1,455 |
Other liabilities | 3,539 | 2,202 |
Total Liabilities | 1,280,435 | 1,379,293 |
Preferred stock: | ||
Series C - $1,000 par value - authorized 39,435 shares; issued and outstanding 39,435 | 39,435 | 39,435 |
Common stock: | ||
$1 par value - authorized 100,600,000 shares; issued 6,291,332 and 6,294,227 shares | 6,291 | 6,294 |
Surplus | 39,387 | 39,387 |
Treasury stock, at cost, 0 and 2,895 shares | 0 | (54) |
Retained earnings | 62,050 | 54,280 |
Accumulated other comprehensive income | 1,162 | 241 |
Total Shareholders' Equity | 148,325 | 139,583 |
Total Liabilities and Shareholders' Equity | $ 1,428,760 | $ 1,518,876 |
CONSOLIDATED BALANCE SHEETS (u3
CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Investment securities: | ||
Held to maturity, estimated fair value | $ 216,586 | $ 139,688 |
Common stock: | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 100,600,000 | 100,600,000 |
Common stock, shares issued (in shares) | 6,291,332 | 6,294,227 |
Treasury Stock (in shares) | 0 | 2,895 |
Series C Preferred Stock [Member] | ||
Preferred stock: | ||
Preferred stock, par value (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, shares authorized (in shares) | 39,435 | 39,435 |
Preferred stock, shares issued (in shares) | 39,435 | 39,435 |
Preferred stock, shares outstanding (in shares) | 39,435 | 39,435 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest Income: | ||||
Loans (including fees) | $ 10,551 | $ 9,735 | $ 31,680 | $ 29,220 |
Deposits with other banks | 14 | 16 | 56 | 97 |
Securities (including FHLB stock) | 3,312 | 3,410 | 10,256 | 10,034 |
Total Interest Income | 13,877 | 13,161 | 41,992 | 39,351 |
Interest Expense: | ||||
Demand deposits | 348 | 321 | 1,052 | 1,004 |
Savings deposits | 9 | 8 | 26 | 24 |
Time deposits | 1,727 | 1,923 | 5,369 | 5,848 |
Borrowings | 35 | 44 | 104 | 102 |
Total Interest Expense | 2,119 | 2,296 | 6,551 | 6,978 |
Net Interest Income | 11,758 | 10,865 | 35,441 | 32,373 |
Less: Provision for loan losses | 1,868 | 397 | 2,878 | 1,054 |
Net Interest Income after Provision for Loan Losses | 9,890 | 10,468 | 32,563 | 31,319 |
Noninterest Income: | ||||
Service charges, commissions and fees | 717 | 725 | 2,045 | 2,055 |
ATM and debit card fees | 441 | 425 | 1,328 | 1,247 |
Net gains on securities | 2,233 | 91 | 3,172 | 300 |
Net gains (loss) on sale of loans | 0 | 1 | 4 | (6) |
Other | 320 | 365 | 1,022 | 1,127 |
Total Noninterest Income | 3,711 | 1,607 | 7,571 | 4,723 |
Noninterest Expense: | ||||
Salaries and employee benefits | 3,841 | 3,952 | 11,747 | 11,736 |
Occupancy and equipment expense | 951 | 993 | 2,920 | 2,995 |
Other | 2,976 | 2,698 | 8,716 | 8,638 |
Total Noninterest Expense | 7,768 | 7,643 | 23,383 | 23,369 |
Income Before Income Taxes | 5,833 | 4,432 | 16,751 | 12,673 |
Less: Provision for income taxes | 1,951 | 1,461 | 5,614 | 4,247 |
Net Income | 3,882 | 2,971 | 11,137 | 8,426 |
Preferred Stock Dividends | (99) | (99) | (296) | (296) |
Income Available to Common Shareholders | $ 3,783 | $ 2,872 | $ 10,841 | $ 8,130 |
Per Common Share: | ||||
Earnings (in dollars per share) | $ 0.60 | $ 0.45 | $ 1.72 | $ 1.29 |
Cash dividends paid (in dollars per share) | $ 0.16 | $ 0.16 | $ 0.48 | $ 0.48 |
Weighted Average Common Shares Outstanding (in shares) | 6,291,332 | 6,291,332 | 6,291,332 | 6,291,332 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) [Abstract] | ||||
Net Income | $ 3,882 | $ 2,971 | $ 11,137 | $ 8,426 |
Unrealized gains (losses) on securities: | ||||
Unrealized holding gains (losses) arising during the period | 1,927 | (944) | 4,567 | 12,259 |
Reclassification adjustments for gains included in net income | (2,233) | (91) | (3,172) | (300) |
Change in unrealized gains (losses) on securities | (306) | (1,035) | 1,395 | 11,959 |
Tax impact | 104 | 352 | (474) | (4,066) |
Other comprehensive income (loss) | (202) | (683) | 921 | 7,893 |
Comprehensive Income | $ 3,680 | $ 2,288 | $ 12,058 | $ 16,319 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands | Preferred Stock [Member]Series C - Preferred Stock $1,000 Par [Member] | Common Stock $1 Par [Member] | Surplus [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income/(Loss) [Member] | Total | |
Balance at Dec. 31, 2013 | $ 39,435 | $ 6,294 | $ 39,387 | $ (54) | $ 47,477 | $ (9,134) | $ 123,405 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 0 | 0 | 0 | 0 | 8,426 | 0 | 8,426 | |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 7,893 | 7,893 | |
Cash dividends on common stock ($0.48 per share) | 0 | 0 | 0 | 0 | (3,020) | 0 | (3,020) | |
Preferred stock dividend | 0 | 0 | 0 | 0 | (296) | 0 | (296) | |
Balance at Sep. 30, 2014 | 39,435 | 6,294 | 39,387 | (54) | 52,587 | (1,241) | 136,408 | |
Balance at Dec. 31, 2014 | 39,435 | 6,294 | 39,387 | (54) | 54,280 | 241 | 139,583 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 0 | 0 | 0 | 0 | 11,137 | 0 | 11,137 | |
Reclassification of treasury stock under the LBCA | [1] | 0 | (3) | 0 | 54 | (51) | 0 | 0 |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 921 | 921 | |
Cash dividends on common stock ($0.48 per share) | 0 | 0 | 0 | 0 | (3,020) | 0 | (3,020) | |
Preferred stock dividend | 0 | 0 | 0 | 0 | (296) | 0 | (296) | |
Balance at Sep. 30, 2015 | $ 39,435 | $ 6,291 | $ 39,387 | $ 0 | $ 62,050 | $ 1,162 | $ 148,325 | |
[1] | Effective January 1, 2015, companies incorporated under Louisiana law became subject to the Louisiana Business Corporation Act (which replaced the Louisiana Business Corporation Law). Provisions of the Louisiana Business Corporation Act eliminate the concept of treasury stock and provide that shares reacquired by a company are to be treated as authorized but unissued shares. As a result of this change in law, shares previously classified as treasury stock were reclassified as a reduction to issued shares of common stock in the consolidated financial statements as of June 30, 2015, reducing the stated value of common stock and retained earnings. |
CONSOLIDATED STATEMENTS OF CHA7
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Common stock, par value (in dollars per share) | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 |
Cash dividends per share (in dollars per share) | 0.16 | 0.16 | 0.48 | 0.48 | |
Series C - Preferred Stock $1,000 Par [Member] | |||||
Preferred stock, par value (in dollars per share) | 1,000 | 1,000 | $ 1,000 | ||
Preferred Stock [Member] | Series C - Preferred Stock $1,000 Par [Member] | |||||
Preferred stock, par value (in dollars per share) | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash Flows From Operating Activities | ||
Net income | $ 11,137 | $ 8,426 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 2,878 | 1,054 |
Depreciation and amortization | 1,515 | 1,608 |
Amortization/Accretion of investments | 1,590 | 1,585 |
Gain on sale/call of securities | (987) | (300) |
Gain on sale of assets | (6) | (23) |
ORE write downs and loss on disposition | 169 | 459 |
FHLB stock dividends | (3) | (3) |
Net decrease in loans held for sale | 0 | 88 |
Change in other assets and liabilities, net | (3,466) | 1,852 |
Net Cash Provided By Operating Activities | 12,827 | 14,746 |
Cash Flows From Investing Activities | ||
Funds invested in certificates of deposit | 0 | (10,000) |
Proceeds from maturities and calls of certificates of deposit | 8,500 | 0 |
Proceeds from maturities and calls of HTM securities | 10,466 | 6,775 |
Proceeds from maturities, calls and sales of AFS securities | 601,337 | 467,335 |
Funds invested in HTM securities | (33,431) | 0 |
Funds Invested in AFS securities | (452,235) | (490,898) |
Proceeds from sale/redemption of Federal Home Loan Bank stock | 3,554 | 2,955 |
Funds invested in Federal Home Loan Bank stock | (2,845) | (3,045) |
Net increase in loans | (69,321) | (44,542) |
Purchase of premises and equipment | (2,745) | (1,687) |
Proceeds from sales of premises and equipment | 4 | 52 |
Proceeds from sales of other real estate owned | 429 | 2,777 |
Net Cash Provided by (Used In) Investing Activities | 63,713 | (70,278) |
Cash Flows From Financing Activities | ||
Net (decrease) increase in deposits | (99,700) | 17,294 |
Net increase (decrease) in federal funds purchased and short-term borrowings | 0 | 6,512 |
Proceeds from long-term borrowings | 0 | 1,555 |
Repayment of long-term borrowings | (450) | (450) |
Dividends paid | (3,316) | (3,316) |
Net Cash (Used In) Provided By Financing Activities | (103,466) | 21,595 |
Net Decrease In Cash and Cash Equivalents | (26,926) | (33,937) |
Cash and Cash Equivalents at the Beginning of the Period | 44,575 | 61,484 |
Cash and Cash Equivalents at the End of the Period | 17,649 | 27,547 |
Noncash Activities: | ||
Loans transferred to foreclosed assets | 738 | 1,865 |
Cash Paid During The Period: | ||
Interest on deposits and borrowed funds | 6,597 | 7,198 |
Income taxes | $ 6,500 | $ 2,900 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2015 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Note 1. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles. The consolidated financial statements and the footnotes of First Guaranty Bancshares, Inc. ("First Guaranty" or the “Company”) thereto should be read in conjunction with the audited financial statements and note disclosures for First Guaranty previously filed with the Securities and Exchange Commission in First Guaranty’s Annual Report filed on Form 10-K for the year ended December 31, 2014. The consolidated financial statements include the accounts of First Guaranty Bancshares, Inc. and its wholly owned subsidiary First Guaranty Bank (the "Bank"). All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary for a fair presentation of the consolidated financial statements. Those adjustments are of a normal recurring nature. The results of operations at September 30, 2015 and for the three and nine month periods ended September 30, 2015 and 2014 are not necessarily indicative of the results expected for the full year or any other interim period. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are susceptible to significant change in the near term are the allowance for loan losses, valuation of goodwill, intangible assets and other purchase accounting adjustments. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2015 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Note 2. Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs." The amendments in this guidance require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. This guidance is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. This guidance must be adopted retrospectively, wherein the balance sheet of each period presented should be adjusted to reflect the new guidance. The adoption of this guidance is not expected to have a material impact upon First Guaranty’s financial statements. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2015 | |
Securities [Abstract] | |
Securities | Note 3. Securities A summary comparison of securities by type at September 30, 2015 and December 31, 2014 is shown below. September 30, 2015 December 31, 2014 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: U.S Treasuries $ 19,000 $ - $ - $ 19,000 $ 36,000 $ - $ - $ 36,000 U.S. Government Agencies 133,407 81 (377 ) 133,111 295,620 30 (4,155 ) 291,495 Corporate debt securities 102,778 3,405 (1,703 ) 104,480 126,654 4,415 (1,006 ) 130,063 Mutual funds or other equity securities 580 7 - 587 570 4 - 574 Municipal bonds 43,688 528 (64 ) 44,152 40,599 1,077 - 41,676 Total available-for-sale securities $ 299,453 $ 4,021 $ (2,144 ) $ 301,330 $ 499,443 $ 5,526 $ (5,161 ) $ 499,808 Held to maturity: U.S. Government Agencies $ 131,345 $ 126 $ (145 ) $ 131,326 $ 84,479 $ - $ (1,950 ) $ 82,529 Mortgage-backed securities 85,079 299 (118 ) 85,260 57,316 57 (214 ) 57,159 Total held to maturity securities $ 216,424 $ 425 $ (263 ) $ 216,586 $ 141,795 $ 57 $ (2,164 ) $ 139,688 The scheduled maturities of securities at September 30, 2015 and December 31, 2014, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to call or prepayments. Mortgage-backed securities are not due at a single maturity because of amortization and potential prepayment of the underlying mortgages. For this reason they are presented separately in the maturity table below. September 30, 2015 December 31, 2014 (in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Available For Sale: Due in one year or less $ 30,358 $ 30,474 $ 71,547 $ 71,665 Due after one year through five years 142,358 143,951 219,470 219,785 Due after five years through 10 years 84,590 84,451 158,076 157,531 Over 10 years 42,147 42,454 50,350 50,827 Total available-for-sale securities $ 299,453 $ 301,330 $ 499,443 $ 499,808 Held to Maturity: Due in one year or less $ - $ - $ - $ - Due after one year through five years 36,980 36,966 24,999 24,609 Due after five years through 10 years 94,365 94,360 59,480 57,920 Over 10 years - - - - Subtotal 131,345 131,326 84,479 82,529 Mortgage-backed Securities 85,079 85,260 57,316 57,159 Total held to maturity securities $ 216,424 $ 216,586 $ 141,795 $ 139,688 At September 30, 2015 $400.4 The pledged securities had a market value of $400.5 million as of September 30, 2015. The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses at September 30, 2015. At September 30, 2015 Less Than 12 Months 12 Months or More Total (in thousands) Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Available for sale: U.S. Treasuries - $ - $ - - $ - $ - - $ - $ - U.S. Government agencies 5 16,867 (121 ) 12 50,712 (256 ) 17 67,579 (377 ) Corporate debt securities 66 20,861 (765 ) 26 5,468 (938 ) 92 26,329 (1,703 ) Mutual funds or other equity securities - - - - Municipal bonds 10 12,527 (64 ) - - - 10 12,527 (64 ) Total available-for-sale securities 81 $ 50,255 $ (950 ) 38 $ 56,180 $ (1,194 ) 119 $ 106,435 $ (2,144 ) Held to maturity: U.S. Government agencies 6 33,269 (46 ) 7 24,069 (99 ) 13 57,338 (145 ) Mortgage-backed securities 13 36,766 (118 ) - - - 13 36,766 (118 ) Total held to maturity 19 $ 70,035 $ (164 ) 7 $ 24,069 $ (99 ) 26 $ 94,104 $ (263 ) The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses at December 31, 2014. At December 31, 2014 Less Than 12 Months 12 Months or More Total (in thousands) Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Available for sale: U.S. Treasuries 4 $ 24,000 $ - - $ - $ - 4 $ 24,000 $ - U.S. Government agencies 4 43,983 (17 ) 66 232,482 (4,138 ) 70 276,465 (4,155 ) Corporate debt securities 37 15,395 (238 ) 50 15,397 (768 ) 87 30,792 (1,006 ) Mutual funds or other equity securities - - - - - - - - - Total available for sale 45 $ 83,378 $ (255 ) 116 $ 247,879 $ (4,906 ) 161 $ 331,257 $ (5,161 ) Held to maturity: U.S. Government agencies 1 $ 4,993 $ (7 ) 19 $ 77,536 $ (1,943 ) 20 $ 82,529 $ (1,950 ) Mortgage-backed securities 7 12,008 (13 ) 12 29,415 (201 ) 19 41,423 (214 ) Total held to maturity 8 $ 17,001 $ (20 ) 31 $ 106,951 $ (2,144 ) 39 $ 123,952 $ (2,164 ) Securities are evaluated for other-than-temporary impairment at least quarterly and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, (iii) the recovery of contractual principal and interest and (iv) the intent and ability of First Guaranty to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. The amount of investment securities issued by U.S. Government and Government sponsored agencies with unrealized losses and the amount of unrealized losses on those investment securities are the result of changes in market interest rates. First Guaranty has the ability and intent to hold these securities in its current portfolio until recovery, which may be until maturity. The corporate debt securities consist primarily of corporate bonds issued by financial, insurance, utility, manufacturing, industrial, consumer products and oil and gas organizations. First Guaranty believes that each of the issuers will be able to fulfill the obligations of these securities based on evaluations described above. First Guaranty has the ability and intent to hold these securities until they recover, which could be at their maturity dates. At September 30, 2015, First Guaranty believes that the securities with unrealized losses reflect impairment that is temporary and there are no securities with other-than-temporary impairment. At September 30, 2015 (in thousands) Amortized Cost Fair Value U.S. Government Treasuries (U.S.) $ 19,000 $ 19,000 Federal Home Loan Bank (FHLB) 117,806 117,759 Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) 60,846 60,819 Federal National Mortgage Association (Fannie Mae-FNMA) 111,405 111,426 Federal Farm Credit Bank (FFCB) 59,774 59,692 Total $ 368,831 $ 368,696 |
Loans
Loans | 9 Months Ended |
Sep. 30, 2015 | |
Loans [Abstract] | |
Loans | Note 4. Loans The following table summarizes the components of First Guaranty's loan portfolio as of September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 (in thousands except for %) Balance As % of Category Balance As % of Category Real Estate: Construction & land development $ 55,700 6.5 % $ 52,094 6.6 % Farmland 14,316 1.7 % 13,539 1.7 % 1- 4 Family 133,400 15.5 % 118,181 14.9 % Multifamily 13,199 1.5 % 14,323 1.8 % Non-farm non-residential 326,816 38.1 % 328,400 41.5 % Total Real Estate 543,431 63.3 % 526,537 66.5 % Non-Real Estate: Agricultural 30,830 3.6 % 26,278 3.3 % Commercial and industrial 231,069 26.9 % 196,339 24.8 % Consumer and other 53,491 6.2 % 42,991 5.4 % Total Non-Real Estate 315,390 36.7 % 265,608 33.5 % Total loans before unearned income 858,821 100.0 % 792,145 100.0 % Unearned income (2,087 ) (1,824 ) Total loans net of unearned income $ 856,734 $ 790,321 The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of September 30, 2015 and December 31, 2014 unadjusted for scheduled principal payments, prepayments, or repricing opportunities. The average life of the loan portfolio may be substantially less than the contractual terms when these adjustments are considered. September 30, 2015 December 31, 2014 (in thousands) Fixed Floating Total Fixed Floating Total One year or less $ 105,416 $ 61,695 $ 167,111 $ 88,686 $ 72,250 $ 160,936 One to five years 287,054 249,487 536,541 253,306 225,655 478,961 Five to 15 years 53,373 38,388 91,761 67,012 39,634 106,646 Over 15 years 33,566 9,321 42 25,304 8,104 33,408 Subtotal $ 479,409 $ 358,891 838,300 $ 434,308 $ 345,643 779,951 Nonaccrual loans 20,521 12,194 Total loans before unearned income 858,821 792,145 Unearned income (2,087 ) (1,824 ) Total loans net of unearned income $ 856,734 $ 790,321 As of September 30, 2015 $190.7 million of floating rate loans were at their interest rate floor. At December 31, 2014 $195.7 million of floating rate loans were at the floor rate. Nonaccrual The following tables present the age analysis of past due loans at September 30, 2015 and December 31, 2014: As of September 30, 2015 (in thousands) 30-89 Days Past Due 90 Days or Greater Total Past Due Current Total Loans Recorded Investment 90 Days Accruing Real Estate: Construction & land development $ 697 $ 878 $ 1,575 $ 54,125 $ 55,700 $ - Farmland - 133 133 14,183 14,316 - 1 - 4 family 1,282 5,617 6,899 126,501 133,400 57 Multifamily 399 9,184 9,583 3,616 13,199 - Non-farm non-residential 898 1,139 2,037 324,779 326,816 - Total Real Estate 3,276 16,951 20,227 523,204 543,431 57 Non-Real Estate: Agricultural 90 1,480 1,570 29,260 30,830 - Commercial and industrial 331 1,825 2,156 228,913 231,069 - Consumer and other 170 322 492 52,999 53,491 - Total Non-Real Estate 591 3,627 4,218 311,172 315,390 - Total loans before unearned income $ 3,867 $ 20,578 $ 24,445 $ 834,376 $ 858,821 $ 57 Unearned income (2,087 ) Total loans net of unearned income $ 856,734 As of December 31, 2014 (in thousands) 30-89 Days Past Due 90 Days or Greater Total Past Due Current Total Loans Recorded Investment 90 Days Accruing Real Estate: Construction & land development $ 338 $ 486 $ 824 $ 51,270 $ 52,094 $ - Farmland 10 153 163 13,376 13,539 - 1 - 4 family 2,924 4,418 7,342 110,839 118,181 599 Multifamily 2,990 - 2,990 11,333 14,323 - Non-farm non-residential 1,509 4,993 6,502 321,898 328,400 - Total Real Estate 7,771 10,050 17,821 508,716 526,537 599 Non-Real Estate: Agricultural - 832 832 25,446 26,278 - Commercial and industrial 1,241 1,907 3,148 193,191 196,339 - Consumer and other 105 4 109 42,882 42,991 - Total Non-Real Estate 1,346 2,743 4,089 261,519 265,608 - Total loans before unearned income $ 9,117 $ 12,793 $ 21,910 $ 770,235 $ 792,145 $ 599 Unearned income (1,824 ) Total loans net of unearned income $ 790,321 The tables above include $20.5 million and $12.2 million of nonaccrual loans at September 30, 2015 and December 31, 2014, respectively. See the tables below for more detail on nonaccrual loans. The following is a summary of nonaccrual loans by class at the dates indicated: (in thousands) As of September 30, 2015 As of December 31, 2014 Real Estate: Construction & land development $ 878 $ 486 Farmland 133 153 1 - 4 family 5,560 3,819 Multifamily 9,184 - Non-farm non-residential 1,139 4,993 Total Real Estate 16,894 9,451 Non-Real Estate: Agricultural 1,480 832 Commercial and industrial 1,825 1,907 Consumer and other 322 4 Total Non-Real Estate 3,627 2,743 Total Nonaccrual Loans $ 20,521 $ 12,194 As of September 30, 2015 As of December 31, 2014 (in thousands) Pass Special Mention Substandard Doubtful Total Pass Special Mention Substandard Doubtful Total Real Estate: Construction & land development $ 50,849 $ 419 $ 4,432 $ - $ 55,700 $ 46,451 $ 559 $ 5,084 $ - $ 52,094 Farmland 14,182 - 134 - 14,316 13,299 87 153 - 13,539 1 - 4 family 119,510 6,288 7,602 - 133,400 103,582 6,113 8,486 - 118,181 Multifamily 4,015 - 9,184 - 13,199 3,581 6,414 4,328 - 14,323 Non-farm non-residential 297,638 5,285 23,893 - 326,816 300,319 6,788 21,293 - 328,400 Total Real Estate 486,194 11,992 45,245 - 543,431 467,232 19,961 39,344 - 526,537 Non-Real Estate: Agricultural 26,999 5 3,826 - 30,830 22,789 7 3,482 - 26,278 Commercial and industrial 219,799 9,445 1,825 - 231,069 185,839 8,611 1,889 - 196,339 Consumer and other 52,931 217 343 - 53,491 42,831 123 37 - 42,991 Total Non-Real Estate 299,729 9,667 5,994 - 315,390 251,459 8,741 5,408 - 265,608 Total loans before unearned income $ 785,923 $ 21,659 $ 51,239 $ - $ 858,821 $ 718,691 $ 28,702 $ 44,752 $ - $ 792,145 Unearned income (2,087 ) (1,824 ) Total loans net of unearned income $ 856,734 $ 790,321 |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2015 | |
Allowance for Loan Losses [Abstract] | |
Allowance for Loan Losses | Note 5. Allowance for Loan Losses A summary of changes in the allowance for loan losses, by portfolio type, for the nine months ended September 30, 2015 and 2014 are as follows: As of September 30, 2015 2014 (in thousands) Beginning Allowance (12/31/14) Charge-offs Recoveries Provision Ending Allowance (9/30/15) Beginning Allowance (12/31/13) Charge-offs Recoveries Provision Ending Allowance(9/30/14) Real Estate: Construction & land development $ 702 $ (329 ) $ 4 $ 597 $ 974 $ 1,530 $ (1,032 ) $ 2 $ 230 $ 730 Farmland 21 - - 25 46 17 - - 5 22 1 - 4 family 2,131 (288 ) 76 (349 ) 1,570 1,974 (208 ) 59 (71 ) 1,754 Multifamily 813 (948 ) 31 933 829 376 - 39 106 521 Non-farm non-residential 2,713 (154 ) 5 879 3,443 3,607 (1,425 ) 8 646 2,836 Total real estate 6 ,380 (1,719 ) 116 2,085 6,862 7,504 (2,665 ) 108 916 5,863 Non-Real Estate: Agricultural 293 (394 ) 2 136 37 46 (2 ) 1 (5 ) 40 Commercial and industrial 1,797 (25 ) 14 722 2,508 2,176 (197 ) 21 (266 ) 1,734 Consumer and other 371 (280 ) 116 185 392 208 (218 ) 170 15 175 Unallocated 264 - - (250 ) 14 421 - - 394 815 Total Non-Real Estate 2,725 (699 ) 132 793 2,951 2,851 (417 ) 192 138 2,764 Total $ 9,105 $ (2,418 ) $ 248 $ 2,878 $ 9,813 $ 10,355 $ (3,082 ) $ 300 $ 1,054 $ 8,627 Negative provisions are caused by changes in the composition and credit quality of the loan portfolio. The result is an allocation of the loan loss reserve from one category to another. A summary of the allowance and loans individually and collectively evaluated for impairment are as follows As of September 30, 2015 (in thousands) Allowance Individually Evaluated for Impairment Allowance Collectively for Impairment Total Allowance for Credit Losses Loans Individually Loans Collectively Total Loans before Unearned Income Real Estate: Construction & land development $ - $ 974 $ 974 $ 601 $ 55,099 $ 55,700 Farmland - 46 46 - 14,316 14,316 1 - 4 family 677 893 1,570 3,095 130,305 133,400 Multifamily 516 313 829 6,253 6,946 13,199 Non-farm non-residential 681 2,762 3,443 11,966 314,850 326,816 Total Real Estate 1,874 4,988 6,862 21,915 521,516 543,431 Non-Real Estate: Agricultural 18 19 37 3,703 27,127 30,830 Commercial and industrial - 2,508 2,508 1,646 229,423 231,069 Consumer and other 116 276 392 317 53,174 53,491 Unallocated - 14 14 - - - Total Non-Real Estate 134 2,817 2,951 5,666 309,724 315,390 Total $ 2,008 $ 7,805 $ 9,813 $ 27,581 $ 831,240 $ 858,821 Unearned Income (2,087 ) Total loans net of unearned income $ 856,734 As of December 31, 2014 (in thousands) Allowance Individually Evaluated for Impairment Allowance Collectively for Impairment Total Allowance for Credit Losses Loans Individually Loans Collectively Total Loans before Unearned Income Real Estate: Construction & land development $ 126 $ 576 $ 702 $ 4,150 $ 47,944 $ 52,094 Farmland - 21 21 - 13,539 13,539 1 - 4 family 598 1,533 2,131 3,420 114,761 118,181 Multifamily 437 376 813 7,201 7,122 14,323 Non-farm non-residential 468 2,245 2,713 16,287 312,113 328,400 Total Real Estate 1,629 4,751 6,380 31,058 495,479 526,537 Non-Real Estate: Agricultural 262 31 293 2,650 23,628 26,278 Commercial and industrial 19 1,778 1,797 1,664 194,675 196,339 Consumer and other - 371 371 - 42,991 42,991 Unallocated - 264 264 - - - Total Non-Real Estate 281 2,444 2,725 4,314 261,294 265,608 Total $ 1,910 $ 7,195 $ 9,105 $ 35,372 $ 756,773 $ 792,145 Unearned Income (1,824 ) Total loans net of unearned income $ 790,321 A loan is considered impaired when, based on current information and events, it is probable that First Guaranty will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Payment status, collateral value and the probability of collecting scheduled principal and interest payments when due are considered in evaluating loan impairment. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The following is a summary of impaired loans by class as of the date indicated: As of September 30, 2015 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Cash Basis Impaired Loans with no related allowance: Real Estate: Construction & land development $ 601 $ 823 $ - $ 826 $ 28 $ 35 Farmland - - - - - - 1 - 4 family 589 881 - 885 38 39 Multifamily 853 1,338 - 1,338 61 45 Non-farm non-residential 3,436 3,436 - 3,444 96 115 Total Real Estate 5,479 6,478 - 6,493 223 234 Non-Real Estate: Agricultural 2,627 2,636 - 2,641 124 90 Commercial and industrial 1,646 1,854 - 1,854 60 - Consumer and other - - - - - - Total Non-Real Estate 4,273 4,490 - 4,495 184 90 Total Impaired Loans with no related allowance 9,752 10,968 - 10,988 407 324 Impaired Loans w ith an allowance recorded: Real Estate: Construction & land development - - - - - - Farmland - - - - - - 1 - 4 family 2,506 2,549 677 2,534 99 55 Multifamily - - - - - - Non-farm non-residential 8,530 8,980 681 9,086 330 345 Total Real Estate 11,036 11,529 1,358 11,620 429 400 Non-Real Estate: Agricultural 1,076 1,139 18 1,112 53 - Commercial and industrial - - - - - - Consumer and other 317 317 116 341 21 20 Total Non-Real Estate 1,393 1,456 134 1,453 74 20 Total Impaired Loans with an allowance recorded 12,429 12,985 1,492 13,073 503 420 Total Impaired Loans $ 22,181 $ 23,953 $ 1,492 $ 24,061 $ 910 $ 744 The following is a summary of impaired loans by class as of the date indicated: As of December 31, 2014 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Cash Basis Impaired Loans with no related allowance: Real Estate: Construction & land development $ 3,308 $ 4,359 $ - $ 3,479 $ 217 $ 224 Farmland - - - - - - 1 - 4 family 1,368 1,656 - 397 72 43 Multifamily - - - 148 31 34 Non-farm non-residential 7,439 9,008 - 8,694 422 275 Total Real Estate 12,115 15,023 - 12,718 742 576 Non-Real Estate: Agricultural - - - - - - Commercial and industrial - - - - - - Consumer and other - - - - - - Total Non-Real Estate - - - - - - Total Impaired Loans with no related allowance 12,115 15,023 - 12,718 742 576 Impaired Loans w ith an allowance recorded: Real Estate: Construction & land development 842 842 126 829 48 43 Farmland - - - - - - 1 - 4 family 2,052 2,068 598 2,062 97 87 Multifamily 1,338 1,337 398 1,340 60 55 Non-farm non-residential 8,848 8,913 468 8,948 317 327 Total Real Estate 13,080 13,160 1,590 13,179 522 512 Non-Real Estate: Agricultural 2,650 2,650 262 - - - Commercial and industrial 1,664 1,854 19 - - - Consumer and other - - - - - - Total Non-Real Estate 4,314 4,504 281 - - - Total Impaired Loans with an allowance recorded 17,394 17,664 1,871 13,179 522 512 Total Impaired Loans $ 29,509 $ 32,687 $ 1,871 $ 25,897 $ 1,264 $ 1,088 Troubled Debt Restructurings A troubled debt restructuring ("TDR") is considered such if the lender for economic or legal reasons related to the debtor's financial difficulties grants a concession to the debtor that it would not otherwise consider. The modifications to First Guaranty's TDRs were concessions on either the interest rate charged or the amortization. The effect of the modifications to First Guaranty was a reduction in interest income. These loans have an allocated reserve in First Guaranty's allowance for loan losses. First Guaranty restructured one lending relationship of $0.6 million secured by raw land that is considered a troubled debt restructuring in the nine months ended September 30, 2015. September 30, 2015 December 31, 2014 Accruing Loans Accruing Loans (in thousands) Current 30-89 Days Past Due Nonaccrual Total TDRs Current 30-89 Days Past Due Nonaccrual Total TDRs Real Estate: Construction & land development $ - $ - $ 601 $ 601 $ - $ - $ - $ - Farmland - - - - - - - - 1-4 Family - - 1,726 1,726 - 1,752 - 1,752 Multifamily - - - - - - - - Non-farm non residential 3,436 - 235 3,671 2,998 452 230 3,680 Total Real Estate 3,436 - 2,562 5,998 2,998 2,204 230 5,432 Non-Real Estate: Agricultural - - - - - - - - Commercial and industrial - - - - - - - - Consumer and other - - - - - - - - Total Non-Real Estate - - - - - - - - Total $ 3,436 $ - $ 2,562 $ 5,998 $ 2,998 $ 2,204 $ 230 $ 5,432 The following table discloses TDR activity for the nine months ended September 30, 2015. Troubled Debt Restructured Loans Activity Nine Months Ended September 30, 2015 (in thousands) Beginning balance December 31, 2014 New TDRs Charge-offs post- modification Transferred to ORE Paydowns Construction to permanent financing Restructured to market terms Ending balance September 30, 2015 Real Estate: Construction & land development $ - $ 601 $ - $ - $ - $ - $ - $ 601 Farmland - - - - - - - - 1 - 4 family 1,752 - - - (26 ) - - 1,726 Multifamily - - - - - - - - Non-farm non-residential 3,680 - - - (9 ) - - 3,671 Total Real Estate 5,432 601 - - (35 ) - - 5,998 Non-Real Estate: Agricultural - - - - - - - - Commercial and industrial - - - - - - - - Consumer and other - - - - - - - - Total Non-Real Estate - - - - - - - - Total Impaired Loans with no related allowance $ 5,432 $ 601 $ - $ - $ (35 ) $ - $ - $ 5,998 There were no commitments to lend additional funds to debtors whose terms have been modified in a troubled debt restructuring at September 30, 2015. During the nine months ended September 30, 2015, one troubled debt restructured lending relationship totaling $1.7 million subsequently defaulted. The relationship was a $1.7 million lending relationship secured by one-to-four family real estate. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Other Intangible Assets [Abstract] | |
Goodwill and Other Intangible Assets | Note 6. Goodwill and Other Intangible Assets Goodwill and intangible assets deemed to have indefinite lives are no longer amortized, but are subject to impairment testing. Other intangible assets continue to be amortized over their useful lives. First Guaranty's goodwill is the difference in purchase price over the fair value of net assets acquired from its acquisition of Homestead Bancorp in 2007. Goodwill totaled $2.0 million at September 30, 2015 and December 31, 2014. No impairment charges have been recognized on First Guaranty's intangible assets. |
Other Real Estate (ORE)
Other Real Estate (ORE) | 9 Months Ended |
Sep. 30, 2015 | |
Other Real Estate (ORE) [Abstract] | |
Other Real Estate (ORE) | Note 7. Other Real Estate (ORE) Other real estate owned consists of the following at the dates indicated: (in thousands) September 30, 2015 December 31, 2014 Real Estate Owned Acquired by Foreclosure: Residential $ 840 $ 1,121 Construction & land development 106 127 Non-farm non-residential 1,392 950 Total Other Real Estate Owned and Foreclosed Property $ 2,338 $ 2,198 Loans secured by one-to-four family residential properties in the process of foreclosure totaled $0.7 million as of September 30, 2015 . |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | Note 8. Commitments and Contingencies Off-balance sheet commitments First Guaranty is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit and standby and commercial letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of the involvement in particular classes of financial instruments. The exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby and commercial letters of credit is represented by the contractual notional amount of those instruments. The same credit policies are used in making commitments and conditional obligations as it does for balance sheet instruments. Unless otherwise noted, collateral or other security is not required to support financial instruments with credit risk. Below is a summary of the notional amounts of the financial instruments with off-balance sheet risk at September 30, 2015 and December 31, 2014: Contract Amount (in thousands) June 30, 2015 December 31, 2014 Commitments to Extend Credit $ 88,780 $ 59,675 Unfunded Commitments under lines of credit $ 109,527 $ 111,247 Commercial and Standby letters of credit $ 7,948 $ 7,743 Litigation The nature of First Guaranty’s business ordinarily results in a certain amount of claims, litigation and legal and administrative cases, all of which are considered incidental to the normal conduct of business. When First Guaranty determines it has defenses to the claims asserted, it defends itself. First Guaranty will consider settlement of cases when it is in the best interests of both First Guaranty and its shareholders. While the final outcome of legal proceedings is inherently uncertain, based on information currently available as of September 30, 2015, any incremental liability arising from First Guaranty’s legal proceedings will not have a material adverse effect on First Guaranty’s financial position. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income [Abstract] | |
Accumulated Other Comprehensive Income | Note 9. Accumulated Other Comprehensive Income The following table details the changes in the single component of accumulated other comprehensive income for the nine months ended September 30, 2015: (in thousands) Unrealized Gain (Loss) on Securities Available for Sale Accumulated Other Comprehensive Income: Balance December 31, 2014 $ 241 Reclassification adjustments to net income: Realized gains on securities (3,172 ) Provision for income taxes 1,078 Unrealized gains arising during the period, net of tax 3,015 Balance September 30, 2015 $ 1,162 The following table details the changes in the single component of accumulated other comprehensive income (loss) for the nine months ended September 30, 2014: (in thousands) Unrealized Gain (Loss) on Securities Available for Sale Accumulated Other Comprehensive (Loss) Income: Balance December 31, 2013 $ (9,134 ) Reclassification adjustments to net income: Realized gains on securities (300 ) Provision for income taxes 102 Unrealized gains arising during the period, net of tax 8,091 Balance September 30, 2014 $ (1,241 ) |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value [Abstract] | |
Fair Value | Note 10. Fair Value The fair value of a financial instrument is the current amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. Valuation techniques use certain inputs to arrive at fair value. Inputs to valuation techniques are the assumptions that market participants would use in pricing the asset or liability. They may be observable or unobservable. First Guaranty uses a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs Level 2 Inputs Level 3 Inputs A description of the valuation methodologies used for instruments measured at fair value follows, as well as the classification of such instruments within the valuation hierarchy. Securities available for sale. Impaired loans. Other real estate owned. Certain non-financial assets and non-financial liabilities are measured at fair value on a non-recurring basis including assets and liabilities related to reporting units measured at fair value in the testing of goodwill impairment, as well as intangible assets and other non-financial long-lived assets measured at fair value for impairment assessment. The following table summarizes financial assets measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) September 30, 2015 December 31, 2014 Available for Sale Securities Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ 19,507 $ 36,504 Level 2: Significant Other Observable Inputs 274,195 454,524 Level 3: Significant Unobservable Inputs 7,628 8,780 Securities available for sale measured at fair value $ 301,330 $ 499,808 First Guaranty's valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While the methodologies used are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value. The change in Level 1 securities available for sale from December 31, 2014 was due principally to a reduction in Treasury bills of $17.0 million. The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of September 30, 2015 and December 31, 2014, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) At September 30, 2015 At December 31, 2014 Impaired Loans - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ - $ - Level 2: Significant Other Observable Inputs 4,229 5,244 Level 3: Significant Unobservable Inputs 5,649 15,618 Impaired loans measured at fair value $ 9,878 $ 20,862 Other Real Estate Owned - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ - $ - Level 2: Significant Other Observable Inputs 1,844 1,847 Level 3: Significant Unobservable Inputs 494 351 Other real estate owned measured at fair value $ 2,338 $ 2,198 ASC 825-10 provides First Guaranty with an option to report selected financial assets and liabilities at fair value. The fair value option established by this statement permits First Guaranty to choose to measure eligible items at fair value at specified election dates and report unrealized gains and losses on items for which the fair value option has been elected in earnings at each reporting date subsequent to implementation. First Guaranty has chosen not to elect the fair value option for any items that are not already required to be measured at fair value in accordance with accounting principles generally accepted in the United States. |
Financial Instruments
Financial Instruments | 9 Months Ended |
Sep. 30, 2015 | |
Financial Instruments [Abstract] | |
Financial Instruments | Note 11. Financial Instruments Fair value estimates are generally subjective in nature and are dependent upon a number of significant assumptions associated with each instrument or group of similar instruments, including estimates of discount rates, risks associated with specific financial instruments, estimates of future cash flows and relevant available market information. Fair value information is intended to represent an estimate of an amount at which a financial instrument could be exchanged in a current transaction between a willing buyer and seller engaging in an exchange transaction. However, since there are no established trading markets for a significant portion of First Guaranty’s financial instruments, First Guaranty may not be able to immediately settle financial instruments; as such, the fair values are not necessarily indicative of the amounts that could be realized through immediate settlement. In addition, the majority of the financial instruments, such as loans and deposits, are held to maturity and are realized or paid according to the contractual agreement with the customer. Quoted market prices are used to estimate fair values when available. However, due to the nature of the financial instruments, in many instances quoted market prices are not available. Accordingly, estimated fair values have been estimated based on other valuation techniques, such as discounting estimated future cash flows using a rate commensurate with the risks involved or other acceptable methods. Fair values are estimated without regard to any premium or discount that may result from concentrations of ownership of financial instruments, possible income tax ramifications or estimated transaction costs. The fair value estimates are subjective in nature and involve matters of significant judgment and, therefore, cannot be determined with precision. Fair values are also estimated at a specific point in time and are based on interest rates and other assumptions at that date. As events change the assumptions underlying these estimates, the fair values of financial instruments will change. Disclosure of fair values is not required for certain items such as lease financing, investments accounted for under the equity method of accounting, obligations of pension and other postretirement benefits, premises and equipment, other real estate, prepaid expenses, the value of long-term relationships with depositors (core deposit intangibles) and other customer relationships, other intangible assets and income tax assets and liabilities. Fair value estimates are presented for existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. In addition, the tax ramifications related to the realization of the unrealized gains and losses have not been considered in the estimates. Accordingly, the aggregate fair value amounts presented do not purport to represent and should not be considered representative of the underlying market or franchise value of First Guaranty. Because the standard permits many alternative calculation techniques and because numerous assumptions have been used to estimate the fair values, reasonable comparison of the fair value information with other financial institutions' fair value information cannot necessarily be made. The methods and assumptions used to estimate the fair values of financial instruments are as follows: Cash and due from banks, interest-bearing deposits with banks, federal funds sold and federal funds purchased. These items are generally short-term and the carrying amounts reported in the consolidated balance sheets are a reasonable estimation of the fair values. Investment Securities. Fair values are principally based on quoted market prices. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments or the use of discounted cash flow analyses. Loans Held for Sale. Fair values of mortgage loans held for sale are based on commitments on hand from investors or prevailing market prices. These loans are classified within level 3 of the fair value hierarchy. Loans, net. Fair values are computed present values using net present value formulas. The present value is the sum of the present value of all projected cash flows on an item at a specified discount rate. The discount rate is set as an appropriate rate index, plus or minus an appropriate spread. These loans are classified within level 3 of the fair value hierarchy. Accrued interest receivable. The carrying amount of accrued interest receivable approximates its fair value. Deposits. The fair value of demand deposits, savings and interest-bearing demand deposits is the amount payable on demand. The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using the rates currently offered for deposits of similar remaining maturities. Deposits are classified within level 3 of the fair value hierarchy. Accrued interest payable. The carrying amount of accrued interest payable approximates its fair value. Borrowings. The carrying amount of federal funds purchased and other short-term borrowings approximate their fair values. The fair value of First Guaranty’s long-term borrowings is computed using net present value formulas. The present value is the sum of the present value of all projected cash flows on an item at a specified discount rate. The discount rate is set as an appropriate rate index, plus or minus an appropriate spread. Borrowings are classified within level 3 of the fair value hierarchy. Other Unrecognized Financial Instruments. The fair value of commitments to extend credit is estimated using the fees charged to enter into similar legally binding agreements, taking into account the remaining terms of the agreements and customers' credit ratings. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. Noninterest-bearing deposits are held at cost. The fair values of letters of credit are based on fees charged for similar agreements or on estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. At September 30, 2015 and December 31, 2014 the fair value of guarantees under commercial and standby letters of credit was not material. The estimated fair values and carrying values of the financial instruments at September 30, 2015 and December 31, 2014 are presented in the following table: September 30, 2015 December 31, 2014 (in thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Assets Cash and cash equivalents $ 17,649 $ 17,649 $ 44,575 $ 44,575 Securities, available for sale 301,330 301,330 499,808 499,808 Securities, held to maturity 216,424 216,586 141,795 139,688 Federal Home Loan Bank stock 915 915 1,621 1,621 Loans, net of allowance for loan losses 846,921 846,980 781,216 780,470 Accrued interest receivable 6,477 6,477 6,384 6,384 Liabilities Deposits $ 1,272,139 $ 1,273,347 $ 1,371,839 $ 1,373,537 Borrowings 2,806 2,806 3,255 3,255 Accrued interest payable 1,951 1,951 1,997 1,997 There is no material difference between the contract amount and the estimated fair value of off-balance sheet items that are primarily comprised of short-term unfunded loan commitments that are generally at market prices. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 12. Subsequent Events On November 12, 2015, First Guaranty sold in a public offering a total of 600,000 shares of its common stock, par value $1.00 per share, at a public offering price of $18.50 per share for gross proceeds of $11.1 million. The shares included in the offering were registered under the Securities Act of 1933, as amended pursuant to First Guaranty's Registration Statement on Form S-1 (File No. 333-199602) which was declared effective by the Securities and Exchange Commission on November 5, 2015. The underwriter has an option to purchase up to an additional 90,000 shares of common stock from First Guaranty. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Securities [Abstract] | |
Summary Comparison of Securities by Type | A summary comparison of securities by type at September 30, 2015 and December 31, 2014 is shown below. September 30, 2015 December 31, 2014 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: U.S Treasuries $ 19,000 $ - $ - $ 19,000 $ 36,000 $ - $ - $ 36,000 U.S. Government Agencies 133,407 81 (377 ) 133,111 295,620 30 (4,155 ) 291,495 Corporate debt securities 102,778 3,405 (1,703 ) 104,480 126,654 4,415 (1,006 ) 130,063 Mutual funds or other equity securities 580 7 - 587 570 4 - 574 Municipal bonds 43,688 528 (64 ) 44,152 40,599 1,077 - 41,676 Total available-for-sale securities $ 299,453 $ 4,021 $ (2,144 ) $ 301,330 $ 499,443 $ 5,526 $ (5,161 ) $ 499,808 Held to maturity: U.S. Government Agencies $ 131,345 $ 126 $ (145 ) $ 131,326 $ 84,479 $ - $ (1,950 ) $ 82,529 Mortgage-backed securities 85,079 299 (118 ) 85,260 57,316 57 (214 ) 57,159 Total held to maturity securities $ 216,424 $ 425 $ (263 ) $ 216,586 $ 141,795 $ 57 $ (2,164 ) $ 139,688 |
Investments Classified by Contractual Maturity Date | The scheduled maturities of securities at September 30, 2015 and December 31, 2014, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to call or prepayments. Mortgage-backed securities are not due at a single maturity because of amortization and potential prepayment of the underlying mortgages. For this reason they are presented separately in the maturity table below. September 30, 2015 December 31, 2014 (in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Available For Sale: Due in one year or less $ 30,358 $ 30,474 $ 71,547 $ 71,665 Due after one year through five years 142,358 143,951 219,470 219,785 Due after five years through 10 years 84,590 84,451 158,076 157,531 Over 10 years 42,147 42,454 50,350 50,827 Total available-for-sale securities $ 299,453 $ 301,330 $ 499,443 $ 499,808 Held to Maturity: Due in one year or less $ - $ - $ - $ - Due after one year through five years 36,980 36,966 24,999 24,609 Due after five years through 10 years 94,365 94,360 59,480 57,920 Over 10 years - - - - Subtotal 131,345 131,326 84,479 82,529 Mortgage-backed Securities 85,079 85,260 57,316 57,159 Total held to maturity securities $ 216,424 $ 216,586 $ 141,795 $ 139,688 |
Schedule of Unrealized Loss on Investments | The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses at September 30, 2015. At September 30, 2015 Less Than 12 Months 12 Months or More Total (in thousands) Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Available for sale: U.S. Treasuries - $ - $ - - $ - $ - - $ - $ - U.S. Government agencies 5 16,867 (121 ) 12 50,712 (256 ) 17 67,579 (377 ) Corporate debt securities 66 20,861 (765 ) 26 5,468 (938 ) 92 26,329 (1,703 ) Mutual funds or other equity securities - - - - Municipal bonds 10 12,527 (64 ) - - - 10 12,527 (64 ) Total available-for-sale securities 81 $ 50,255 $ (950 ) 38 $ 56,180 $ (1,194 ) 119 $ 106,435 $ (2,144 ) Held to maturity: U.S. Government agencies 6 33,269 (46 ) 7 24,069 (99 ) 13 57,338 (145 ) Mortgage-backed securities 13 36,766 (118 ) - - - 13 36,766 (118 ) Total held to maturity 19 $ 70,035 $ (164 ) 7 $ 24,069 $ (99 ) 26 $ 94,104 $ (263 ) The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses at December 31, 2014. At December 31, 2014 Less Than 12 Months 12 Months or More Total (in thousands) Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Available for sale: U.S. Treasuries 4 $ 24,000 $ - - $ - $ - 4 $ 24,000 $ - U.S. Government agencies 4 43,983 (17 ) 66 232,482 (4,138 ) 70 276,465 (4,155 ) Corporate debt securities 37 15,395 (238 ) 50 15,397 (768 ) 87 30,792 (1,006 ) Mutual funds or other equity securities - - - - - - - - - Total available for sale 45 $ 83,378 $ (255 ) 116 $ 247,879 $ (4,906 ) 161 $ 331,257 $ (5,161 ) Held to maturity: U.S. Government agencies 1 $ 4,993 $ (7 ) 19 $ 77,536 $ (1,943 ) 20 $ 82,529 $ (1,950 ) Mortgage-backed securities 7 12,008 (13 ) 12 29,415 (201 ) 19 41,423 (214 ) Total held to maturity 8 $ 17,001 $ (20 ) 31 $ 106,951 $ (2,144 ) 39 $ 123,952 $ (2,164 ) |
Schedule of Exposure to Bond Issuers that Exceeded 10% of Stockholders' Equity | At September 30, 2015, First Guaranty's exposure to bond issuers that exceeded 10% of shareholders’ equity is below: At September 30, 2015 (in thousands) Amortized Cost Fair Value U.S. Government Treasuries (U.S.) $ 19,000 $ 19,000 Federal Home Loan Bank (FHLB) 117,806 117,759 Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) 60,846 60,819 Federal National Mortgage Association (Fannie Mae-FNMA) 111,405 111,426 Federal Farm Credit Bank (FFCB) 59,774 59,692 Total $ 368,831 $ 368,696 |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Loans [Abstract] | |
Summary of Components of Loan Portfolio | The following table summarizes the components of First Guaranty's loan portfolio as of September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 (in thousands except for %) Balance As % of Category Balance As % of Category Real Estate: Construction & land development $ 55,700 6.5 % $ 52,094 6.6 % Farmland 14,316 1.7 % 13,539 1.7 % 1- 4 Family 133,400 15.5 % 118,181 14.9 % Multifamily 13,199 1.5 % 14,323 1.8 % Non-farm non-residential 326,816 38.1 % 328,400 41.5 % Total Real Estate 543,431 63.3 % 526,537 66.5 % Non-Real Estate: Agricultural 30,830 3.6 % 26,278 3.3 % Commercial and industrial 231,069 26.9 % 196,339 24.8 % Consumer and other 53,491 6.2 % 42,991 5.4 % Total Non-Real Estate 315,390 36.7 % 265,608 33.5 % Total loans before unearned income 858,821 100.0 % 792,145 100.0 % Unearned income (2,087 ) (1,824 ) Total loans net of unearned income $ 856,734 $ 790,321 |
Summary of Fixed and Floating Rate Loans by Contractual Maturity, Excluding Nonaccrual Loans | The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of September 30, 2015 and December 31, 2014 unadjusted for scheduled principal payments, prepayments, or repricing opportunities. The average life of the loan portfolio may be substantially less than the contractual terms when these adjustments are considered. September 30, 2015 December 31, 2014 (in thousands) Fixed Floating Total Fixed Floating Total One year or less $ 105,416 $ 61,695 $ 167,111 $ 88,686 $ 72,250 $ 160,936 One to five years 287,054 249,487 536,541 253,306 225,655 478,961 Five to 15 years 53,373 38,388 91,761 67,012 39,634 106,646 Over 15 years 33,566 9,321 42 25,304 8,104 33,408 Subtotal $ 479,409 $ 358,891 838,300 $ 434,308 $ 345,643 779,951 Nonaccrual loans 20,521 12,194 Total loans before unearned income 858,821 792,145 Unearned income (2,087 ) (1,824 ) Total loans net of unearned income $ 856,734 $ 790,321 |
Past Due Financing Receivables | The following tables present the age analysis of past due loans at September 30, 2015 and December 31, 2014: As of September 30, 2015 (in thousands) 30-89 Days Past Due 90 Days or Greater Total Past Due Current Total Loans Recorded Investment 90 Days Accruing Real Estate: Construction & land development $ 697 $ 878 $ 1,575 $ 54,125 $ 55,700 $ - Farmland - 133 133 14,183 14,316 - 1 - 4 family 1,282 5,617 6,899 126,501 133,400 57 Multifamily 399 9,184 9,583 3,616 13,199 - Non-farm non-residential 898 1,139 2,037 324,779 326,816 - Total Real Estate 3,276 16,951 20,227 523,204 543,431 57 Non-Real Estate: Agricultural 90 1,480 1,570 29,260 30,830 - Commercial and industrial 331 1,825 2,156 228,913 231,069 - Consumer and other 170 322 492 52,999 53,491 - Total Non-Real Estate 591 3,627 4,218 311,172 315,390 - Total loans before unearned income $ 3,867 $ 20,578 $ 24,445 $ 834,376 $ 858,821 $ 57 Unearned income (2,087 ) Total loans net of unearned income $ 856,734 As of December 31, 2014 (in thousands) 30-89 Days Past Due 90 Days or Greater Total Past Due Current Total Loans Recorded Investment 90 Days Accruing Real Estate: Construction & land development $ 338 $ 486 $ 824 $ 51,270 $ 52,094 $ - Farmland 10 153 163 13,376 13,539 - 1 - 4 family 2,924 4,418 7,342 110,839 118,181 599 Multifamily 2,990 - 2,990 11,333 14,323 - Non-farm non-residential 1,509 4,993 6,502 321,898 328,400 - Total Real Estate 7,771 10,050 17,821 508,716 526,537 599 Non-Real Estate: Agricultural - 832 832 25,446 26,278 - Commercial and industrial 1,241 1,907 3,148 193,191 196,339 - Consumer and other 105 4 109 42,882 42,991 - Total Non-Real Estate 1,346 2,743 4,089 261,519 265,608 - Total loans before unearned income $ 9,117 $ 12,793 $ 21,910 $ 770,235 $ 792,145 $ 599 Unearned income (1,824 ) Total loans net of unearned income $ 790,321 |
Summary of Nonaccrual Loans by Class | The following is a summary of nonaccrual loans by class at the dates indicated: (in thousands) As of September 30, 2015 As of December 31, 2014 Real Estate: Construction & land development $ 878 $ 486 Farmland 133 153 1 - 4 family 5,560 3,819 Multifamily 9,184 - Non-farm non-residential 1,139 4,993 Total Real Estate 16,894 9,451 Non-Real Estate: Agricultural 1,480 832 Commercial and industrial 1,825 1,907 Consumer and other 322 4 Total Non-Real Estate 3,627 2,743 Total Nonaccrual Loans $ 20,521 $ 12,194 |
Credit Exposure of Loan Portfolio by Specific Credit Ratings | The following table identifies the credit exposure of the loan portfolio by specific credit ratings as of the dates indicated: As of September 30, 2015 As of December 31, 2014 (in thousands) Pass Special Mention Substandard Doubtful Total Pass Special Mention Substandard Doubtful Total Real Estate: Construction & land development $ 50,849 $ 419 $ 4,432 $ - $ 55,700 $ 46,451 $ 559 $ 5,084 $ - $ 52,094 Farmland 14,182 - 134 - 14,316 13,299 87 153 - 13,539 1 - 4 family 119,510 6,288 7,602 - 133,400 103,582 6,113 8,486 - 118,181 Multifamily 4,015 - 9,184 - 13,199 3,581 6,414 4,328 - 14,323 Non-farm non-residential 297,638 5,285 23,893 - 326,816 300,319 6,788 21,293 - 328,400 Total Real Estate 486,194 11,992 45,245 - 543,431 467,232 19,961 39,344 - 526,537 Non-Real Estate: Agricultural 26,999 5 3,826 - 30,830 22,789 7 3,482 - 26,278 Commercial and industrial 219,799 9,445 1,825 - 231,069 185,839 8,611 1,889 - 196,339 Consumer and other 52,931 217 343 - 53,491 42,831 123 37 - 42,991 Total Non-Real Estate 299,729 9,667 5,994 - 315,390 251,459 8,741 5,408 - 265,608 Total loans before unearned income $ 785,923 $ 21,659 $ 51,239 $ - $ 858,821 $ 718,691 $ 28,702 $ 44,752 $ - $ 792,145 Unearned income (2,087 ) (1,824 ) Total loans net of unearned income $ 856,734 $ 790,321 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Allowance for Loan Losses [Abstract] | |
Summary of Changes in Allowance for Loan Losses and Allowance and Loans Individually and Collectively Evaluated for Impairment | A summary of changes in the allowance for loan losses, by portfolio type, for the nine months ended September 30, 2015 and 2014 are as follows: As of September 30, 2015 2014 (in thousands) Beginning Allowance (12/31/14) Charge-offs Recoveries Provision Ending Allowance (9/30/15) Beginning Allowance (12/31/13) Charge-offs Recoveries Provision Ending Allowance(9/30/14) Real Estate: Construction & land development $ 702 $ (329 ) $ 4 $ 597 $ 974 $ 1,530 $ (1,032 ) $ 2 $ 230 $ 730 Farmland 21 - - 25 46 17 - - 5 22 1 - 4 family 2,131 (288 ) 76 (349 ) 1,570 1,974 (208 ) 59 (71 ) 1,754 Multifamily 813 (948 ) 31 933 829 376 - 39 106 521 Non-farm non-residential 2,713 (154 ) 5 879 3,443 3,607 (1,425 ) 8 646 2,836 Total real estate 6 ,380 (1,719 ) 116 2,085 6,862 7,504 (2,665 ) 108 916 5,863 Non-Real Estate: Agricultural 293 (394 ) 2 136 37 46 (2 ) 1 (5 ) 40 Commercial and industrial 1,797 (25 ) 14 722 2,508 2,176 (197 ) 21 (266 ) 1,734 Consumer and other 371 (280 ) 116 185 392 208 (218 ) 170 15 175 Unallocated 264 - - (250 ) 14 421 - - 394 815 Total Non-Real Estate 2,725 (699 ) 132 793 2,951 2,851 (417 ) 192 138 2,764 Total $ 9,105 $ (2,418 ) $ 248 $ 2,878 $ 9,813 $ 10,355 $ (3,082 ) $ 300 $ 1,054 $ 8,627 A summary of the allowance and loans individually and collectively evaluated for impairment are as follows As of September 30, 2015 (in thousands) Allowance Individually Evaluated for Impairment Allowance Collectively for Impairment Total Allowance for Credit Losses Loans Individually Loans Collectively Total Loans before Unearned Income Real Estate: Construction & land development $ - $ 974 $ 974 $ 601 $ 55,099 $ 55,700 Farmland - 46 46 - 14,316 14,316 1 - 4 family 677 893 1,570 3,095 130,305 133,400 Multifamily 516 313 829 6,253 6,946 13,199 Non-farm non-residential 681 2,762 3,443 11,966 314,850 326,816 Total Real Estate 1,874 4,988 6,862 21,915 521,516 543,431 Non-Real Estate: Agricultural 18 19 37 3,703 27,127 30,830 Commercial and industrial - 2,508 2,508 1,646 229,423 231,069 Consumer and other 116 276 392 317 53,174 53,491 Unallocated - 14 14 - - - Total Non-Real Estate 134 2,817 2,951 5,666 309,724 315,390 Total $ 2,008 $ 7,805 $ 9,813 $ 27,581 $ 831,240 $ 858,821 Unearned Income (2,087 ) Total loans net of unearned income $ 856,734 As of December 31, 2014 (in thousands) Allowance Individually Evaluated for Impairment Allowance Collectively for Impairment Total Allowance for Credit Losses Loans Individually Loans Collectively Total Loans before Unearned Income Real Estate: Construction & land development $ 126 $ 576 $ 702 $ 4,150 $ 47,944 $ 52,094 Farmland - 21 21 - 13,539 13,539 1 - 4 family 598 1,533 2,131 3,420 114,761 118,181 Multifamily 437 376 813 7,201 7,122 14,323 Non-farm non-residential 468 2,245 2,713 16,287 312,113 328,400 Total Real Estate 1,629 4,751 6,380 31,058 495,479 526,537 Non-Real Estate: Agricultural 262 31 293 2,650 23,628 26,278 Commercial and industrial 19 1,778 1,797 1,664 194,675 196,339 Consumer and other - 371 371 - 42,991 42,991 Unallocated - 264 264 - - - Total Non-Real Estate 281 2,444 2,725 4,314 261,294 265,608 Total $ 1,910 $ 7,195 $ 9,105 $ 35,372 $ 756,773 $ 792,145 Unearned Income (1,824 ) Total loans net of unearned income $ 790,321 |
Summary of Impaired Loans by Class | The following is a summary of impaired loans by class as of the date indicated: As of September 30, 2015 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Cash Basis Impaired Loans with no related allowance: Real Estate: Construction & land development $ 601 $ 823 $ - $ 826 $ 28 $ 35 Farmland - - - - - - 1 - 4 family 589 881 - 885 38 39 Multifamily 853 1,338 - 1,338 61 45 Non-farm non-residential 3,436 3,436 - 3,444 96 115 Total Real Estate 5,479 6,478 - 6,493 223 234 Non-Real Estate: Agricultural 2,627 2,636 - 2,641 124 90 Commercial and industrial 1,646 1,854 - 1,854 60 - Consumer and other - - - - - - Total Non-Real Estate 4,273 4,490 - 4,495 184 90 Total Impaired Loans with no related allowance 9,752 10,968 - 10,988 407 324 Impaired Loans w ith an allowance recorded: Real Estate: Construction & land development - - - - - - Farmland - - - - - - 1 - 4 family 2,506 2,549 677 2,534 99 55 Multifamily - - - - - - Non-farm non-residential 8,530 8,980 681 9,086 330 345 Total Real Estate 11,036 11,529 1,358 11,620 429 400 Non-Real Estate: Agricultural 1,076 1,139 18 1,112 53 - Commercial and industrial - - - - - - Consumer and other 317 317 116 341 21 20 Total Non-Real Estate 1,393 1,456 134 1,453 74 20 Total Impaired Loans with an allowance recorded 12,429 12,985 1,492 13,073 503 420 Total Impaired Loans $ 22,181 $ 23,953 $ 1,492 $ 24,061 $ 910 $ 744 The following is a summary of impaired loans by class as of the date indicated: As of December 31, 2014 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Cash Basis Impaired Loans with no related allowance: Real Estate: Construction & land development $ 3,308 $ 4,359 $ - $ 3,479 $ 217 $ 224 Farmland - - - - - - 1 - 4 family 1,368 1,656 - 397 72 43 Multifamily - - - 148 31 34 Non-farm non-residential 7,439 9,008 - 8,694 422 275 Total Real Estate 12,115 15,023 - 12,718 742 576 Non-Real Estate: Agricultural - - - - - - Commercial and industrial - - - - - - Consumer and other - - - - - - Total Non-Real Estate - - - - - - Total Impaired Loans with no related allowance 12,115 15,023 - 12,718 742 576 Impaired Loans w ith an allowance recorded: Real Estate: Construction & land development 842 842 126 829 48 43 Farmland - - - - - - 1 - 4 family 2,052 2,068 598 2,062 97 87 Multifamily 1,338 1,337 398 1,340 60 55 Non-farm non-residential 8,848 8,913 468 8,948 317 327 Total Real Estate 13,080 13,160 1,590 13,179 522 512 Non-Real Estate: Agricultural 2,650 2,650 262 - - - Commercial and industrial 1,664 1,854 19 - - - Consumer and other - - - - - - Total Non-Real Estate 4,314 4,504 281 - - - Total Impaired Loans with an allowance recorded 17,394 17,664 1,871 13,179 522 512 Total Impaired Loans $ 29,509 $ 32,687 $ 1,871 $ 25,897 $ 1,264 $ 1,088 |
Troubled Debt Restructurings | The following table identifies the troubled debt restructurings as of September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 Accruing Loans Accruing Loans (in thousands) Current 30-89 Days Past Due Nonaccrual Total TDRs Current 30-89 Days Past Due Nonaccrual Total TDRs Real Estate: Construction & land development $ - $ - $ 601 $ 601 $ - $ - $ - $ - Farmland - - - - - - - - 1-4 Family - - 1,726 1,726 - 1,752 - 1,752 Multifamily - - - - - - - - Non-farm non residential 3,436 - 235 3,671 2,998 452 230 3,680 Total Real Estate 3,436 - 2,562 5,998 2,998 2,204 230 5,432 Non-Real Estate: Agricultural - - - - - - - - Commercial and industrial - - - - - - - - Consumer and other - - - - - - - - Total Non-Real Estate - - - - - - - - Total $ 3,436 $ - $ 2,562 $ 5,998 $ 2,998 $ 2,204 $ 230 $ 5,432 The following table discloses TDR activity for the nine months ended September 30, 2015. Troubled Debt Restructured Loans Activity Nine Months Ended September 30, 2015 (in thousands) Beginning balance December 31, 2014 New TDRs Charge-offs post- modification Transferred to ORE Paydowns Construction to permanent financing Restructured to market terms Ending balance September 30, 2015 Real Estate: Construction & land development $ - $ 601 $ - $ - $ - $ - $ - $ 601 Farmland - - - - - - - - 1 - 4 family 1,752 - - - (26 ) - - 1,726 Multifamily - - - - - - - - Non-farm non-residential 3,680 - - - (9 ) - - 3,671 Total Real Estate 5,432 601 - - (35 ) - - 5,998 Non-Real Estate: Agricultural - - - - - - - - Commercial and industrial - - - - - - - - Consumer and other - - - - - - - - Total Non-Real Estate - - - - - - - - Total Impaired Loans with no related allowance $ 5,432 $ 601 $ - $ - $ (35 ) $ - $ - $ 5,998 |
Other Real Estate (ORE) (Tables
Other Real Estate (ORE) (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Other Real Estate (ORE) [Abstract] | |
Components of Other Real Estate Owned | Other real estate owned consists of the following at the dates indicated: (in thousands) September 30, 2015 December 31, 2014 Real Estate Owned Acquired by Foreclosure: Residential $ 840 $ 1,121 Construction & land development 106 127 Non-farm non-residential 1,392 950 Total Other Real Estate Owned and Foreclosed Property $ 2,338 $ 2,198 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies [Abstract] | |
Summary of Notional Amounts of Financial Instruments with Off-Balance Sheet Risk | Below is a summary of the notional amounts of the financial instruments with off-balance sheet risk at September 30, 2015 and December 31, 2014: Contract Amount (in thousands) June 30, 2015 December 31, 2014 Commitments to Extend Credit $ 88,780 $ 59,675 Unfunded Commitments under lines of credit $ 109,527 $ 111,247 Commercial and Standby letters of credit $ 7,948 $ 7,743 |
Accumulated Other Comprehensi26
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | The following table details the changes in the single component of accumulated other comprehensive income for the nine months ended September 30, 2015: (in thousands) Unrealized Gain (Loss) on Securities Available for Sale Accumulated Other Comprehensive Income: Balance December 31, 2014 $ 241 Reclassification adjustments to net income: Realized gains on securities (3,172 ) Provision for income taxes 1,078 Unrealized gains arising during the period, net of tax 3,015 Balance September 30, 2015 $ 1,162 The following table details the changes in the single component of accumulated other comprehensive income (loss) for the nine months ended September 30, 2014: (in thousands) Unrealized Gain (Loss) on Securities Available for Sale Accumulated Other Comprehensive (Loss) Income: Balance December 31, 2013 $ (9,134 ) Reclassification adjustments to net income: Realized gains on securities (300 ) Provision for income taxes 102 Unrealized gains arising during the period, net of tax 8,091 Balance September 30, 2014 $ (1,241 ) |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value [Abstract] | |
Fair Value, Assets Measured on Recurring Basis | The following table summarizes financial assets measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) September 30, 2015 December 31, 2014 Available for Sale Securities Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ 19,507 $ 36,504 Level 2: Significant Other Observable Inputs 274,195 454,524 Level 3: Significant Unobservable Inputs 7,628 8,780 Securities available for sale measured at fair value $ 301,330 $ 499,808 |
Fair Value Measurements, Nonrecurring | The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of September 30, 2015 and December 31, 2014, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) At September 30, 2015 At December 31, 2014 Impaired Loans - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ - $ - Level 2: Significant Other Observable Inputs 4,229 5,244 Level 3: Significant Unobservable Inputs 5,649 15,618 Impaired loans measured at fair value $ 9,878 $ 20,862 Other Real Estate Owned - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ - $ - Level 2: Significant Other Observable Inputs 1,844 1,847 Level 3: Significant Unobservable Inputs 494 351 Other real estate owned measured at fair value $ 2,338 $ 2,198 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Financial Instruments [Abstract] | |
Schedule of Estimated Fair Values and Carrying Values of Financial Instruments | The estimated fair values and carrying values of the financial instruments at September 30, 2015 and December 31, 2014 are presented in the following table: September 30, 2015 December 31, 2014 (in thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Assets Cash and cash equivalents $ 17,649 $ 17,649 $ 44,575 $ 44,575 Securities, available for sale 301,330 301,330 499,808 499,808 Securities, held to maturity 216,424 216,586 141,795 139,688 Federal Home Loan Bank stock 915 915 1,621 1,621 Loans, net of allowance for loan losses 846,921 846,980 781,216 780,470 Accrued interest receivable 6,477 6,477 6,384 6,384 Liabilities Deposits $ 1,272,139 $ 1,273,347 $ 1,371,839 $ 1,373,537 Borrowings 2,806 2,806 3,255 3,255 Accrued interest payable 1,951 1,951 1,997 1,997 |
Securities (Details)
Securities (Details) $ in Thousands | Sep. 30, 2015USD ($)Security | Dec. 31, 2014USD ($)Security |
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | $ 299,453 | $ 499,443 |
Gross unrealized gains | 4,021 | 5,526 |
Gross unrealized losses | (2,144) | (5,161) |
Fair value | 301,330 | 499,808 |
Available-for-sale Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Due in one year or less | 30,358 | 71,547 |
Due after one year through five years | 142,358 | 219,470 |
Due after five years through 10 years | 84,590 | 158,076 |
Over 10 years | 42,147 | 50,350 |
Amortized cost | 299,453 | 499,443 |
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract] | ||
Due in one year or less | 30,474 | 71,665 |
Due after one year through five years | 143,951 | 219,785 |
Due after five years through 10 years | 84,451 | 157,531 |
Over 10 years | 42,454 | 50,827 |
Fair value | $ 301,330 | $ 499,808 |
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 81 | 45 |
Less than 12 months, fair value | $ 50,255 | $ 83,378 |
Less than 12 months, gross unrealized losses | $ (950) | $ (255) |
12 months or more, number of securities | Security | 38 | 116 |
12 months or more, fair value | $ 56,180 | $ 247,879 |
12 months or more, gross unrealized losses | $ (1,194) | $ (4,906) |
Total, number of securities | Security | 119 | 161 |
Total, fair value | $ 106,435 | $ 331,257 |
Total, gross unrealized losses | (2,144) | (5,161) |
Held to maturity [Abstract] | ||
Amortized cost | 216,424 | 141,795 |
Gross unrealized gains | 425 | 57 |
Gross unrealized losses | (263) | (2,164) |
Fair value | 216,586 | 139,688 |
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Due in one year or less | 0 | 0 |
Due after one year through five years | 36,980 | 24,999 |
Due after five years through 10 years | 94,365 | 59,480 |
Over 10 years | 0 | 0 |
Subtotal | 131,345 | 84,479 |
Mortgage-backed securities | 85,079 | 57,316 |
Amortized cost | 216,424 | 141,795 |
Held-to-maturity Securities, Debt Maturities, Fair Value [Abstract] | ||
Due in one year or less | 0 | 0 |
Due after on year through five years | 36,966 | 24,609 |
Due after five years through 10 years | 94,360 | 57,920 |
Over 10 years | 0 | 0 |
Subtotal | 131,326 | 82,529 |
Mortgage-backed securities | 85,260 | 57,159 |
Fair value | $ 216,586 | $ 139,688 |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | Security | 19 | 8 |
Less than 12 months, fair value | $ 70,035 | $ 17,001 |
Less than 12 months, gross unrealized losses | $ (164) | $ (20) |
12 months or more, number of securities | Security | 7 | 31 |
12 months or more, fair value | $ 24,069 | $ 106,951 |
12 months or more, gross unrealized losses | $ (99) | $ (2,144) |
Total, number of securities | Security | 26 | 39 |
Total, fair value | $ 94,104 | $ 123,952 |
Total, gross unrealized losses | (263) | (2,164) |
Securities Disclosures [Abstract] | ||
Pledged securities as collateral for public fund deposits and borrowings | 400,400 | |
Pledged securities, market value | 400,500 | |
U.S. Treasuries [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 19,000 | 36,000 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Fair value | $ 19,000 | $ 36,000 |
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 0 | 4 |
Less than 12 months, fair value | $ 0 | $ 24,000 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or more, number of securities | Security | 0 | 0 |
12 months or more, fair value | $ 0 | $ 0 |
12 months or more, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | Security | 0 | 4 |
Total, fair value | $ 0 | $ 24,000 |
Total, gross unrealized losses | 0 | 0 |
U.S. Government Agencies [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 133,407 | 295,620 |
Gross unrealized gains | 81 | 30 |
Gross unrealized losses | (377) | (4,155) |
Fair value | $ 133,111 | $ 291,495 |
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 5 | 4 |
Less than 12 months, fair value | $ 16,867 | $ 43,983 |
Less than 12 months, gross unrealized losses | $ (121) | $ (17) |
12 months or more, number of securities | Security | 12 | 66 |
12 months or more, fair value | $ 50,712 | $ 232,482 |
12 months or more, gross unrealized losses | $ (256) | $ (4,138) |
Total, number of securities | Security | 17 | 70 |
Total, fair value | $ 67,579 | $ 276,465 |
Total, gross unrealized losses | (377) | (4,155) |
Corporate Debt Securities [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 102,778 | 126,654 |
Gross unrealized gains | 3,405 | 4,415 |
Gross unrealized losses | (1,703) | (1,006) |
Fair value | $ 104,480 | $ 130,063 |
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 66 | 37 |
Less than 12 months, fair value | $ 20,861 | $ 15,395 |
Less than 12 months, gross unrealized losses | $ (765) | $ (238) |
12 months or more, number of securities | Security | 26 | 50 |
12 months or more, fair value | $ 5,468 | $ 15,397 |
12 months or more, gross unrealized losses | $ (938) | $ (768) |
Total, number of securities | Security | 92 | 87 |
Total, fair value | $ 26,329 | $ 30,792 |
Total, gross unrealized losses | (1,703) | (1,006) |
Mutual Funds or Other Equity Securities [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 580 | 570 |
Gross unrealized gains | 7 | 4 |
Gross unrealized losses | 0 | 0 |
Fair value | $ 587 | $ 574 |
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or more, number of securities | Security | 0 | 0 |
12 months or more, fair value | $ 0 | $ 0 |
12 months or more, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | Security | 0 | 0 |
Total, fair value | $ 0 | $ 0 |
Total, gross unrealized losses | 0 | 0 |
Municipal Bonds [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 43,688 | 40,599 |
Gross unrealized gains | 528 | 1,077 |
Gross unrealized losses | (64) | 0 |
Fair value | $ 44,152 | 41,676 |
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 10 | |
Less than 12 months, fair value | $ 12,527 | |
Less than 12 months, gross unrealized losses | $ (64) | |
12 months or more, number of securities | Security | 0 | |
12 months or more, fair value | $ 0 | |
12 months or more, gross unrealized losses | $ 0 | |
Total, number of securities | Security | 10 | |
Total, fair value | $ 12,527 | |
Total, gross unrealized losses | (64) | |
US Government Agencies [Member] | ||
Held to maturity [Abstract] | ||
Amortized cost | 131,345 | 84,479 |
Gross unrealized gains | 126 | 0 |
Gross unrealized losses | (145) | (1,950) |
Fair value | 131,326 | 82,529 |
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Amortized cost | 131,345 | 84,479 |
Held-to-maturity Securities, Debt Maturities, Fair Value [Abstract] | ||
Fair value | $ 131,326 | $ 82,529 |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | Security | 6 | 1 |
Less than 12 months, fair value | $ 33,269 | $ 4,993 |
Less than 12 months, gross unrealized losses | $ (46) | $ (7) |
12 months or more, number of securities | Security | 7 | 19 |
12 months or more, fair value | $ 24,069 | $ 77,536 |
12 months or more, gross unrealized losses | $ (99) | $ (1,943) |
Total, number of securities | Security | 13 | 20 |
Total, fair value | $ 57,338 | $ 82,529 |
Total, gross unrealized losses | (145) | (1,950) |
Mortgage-backed Securities [Member] | ||
Held to maturity [Abstract] | ||
Amortized cost | 85,079 | 57,316 |
Gross unrealized gains | 299 | 57 |
Gross unrealized losses | (118) | (214) |
Fair value | 85,260 | 57,159 |
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Amortized cost | 85,079 | 57,316 |
Held-to-maturity Securities, Debt Maturities, Fair Value [Abstract] | ||
Fair value | $ 85,260 | $ 57,159 |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | Security | 13 | 7 |
Less than 12 months, fair value | $ 36,766 | $ 12,008 |
Less than 12 months, gross unrealized losses | $ (118) | $ (13) |
12 months or more, number of securities | Security | 0 | 12 |
12 months or more, fair value | $ 0 | $ 29,415 |
12 months or more, gross unrealized losses | $ 0 | $ (201) |
Total, number of securities | Security | 13 | 19 |
Total, fair value | $ 36,766 | $ 41,423 |
Total, gross unrealized losses | $ (118) | $ (214) |
Securities, Exposure to Bond Is
Securities, Exposure to Bond Issuers that Exceeded 10% of Stockholders' Equity (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Exposure to Investment Securities [Abstract] | ||
Amortized cost | $ 517,754 | $ 641,603 |
Stockholders' Equity, Total [Member] | ||
Exposure to Investment Securities [Abstract] | ||
Amortized cost | 368,831 | |
Fair value | 368,696 | |
Stockholders' Equity, Total [Member] | U.S. Government Treasuries (U.S.) [Member] | ||
Exposure to Investment Securities [Abstract] | ||
Amortized cost | 19,000 | |
Fair value | 19,000 | |
Stockholders' Equity, Total [Member] | Federal Home Loan Bank (FHLB) [Member] | ||
Exposure to Investment Securities [Abstract] | ||
Amortized cost | 117,806 | |
Fair value | 117,759 | |
Stockholders' Equity, Total [Member] | Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) [Member] | ||
Exposure to Investment Securities [Abstract] | ||
Amortized cost | 60,846 | |
Fair value | 60,819 | |
Stockholders' Equity, Total [Member] | Federal National Mortgage Association (Fannie Mae-FNMA) [Member] | ||
Exposure to Investment Securities [Abstract] | ||
Amortized cost | 111,405 | |
Fair value | 111,426 | |
Stockholders' Equity, Total [Member] | Federal Farm Credit Bank (FFCB) [Member] | ||
Exposure to Investment Securities [Abstract] | ||
Amortized cost | 59,774 | |
Fair value | $ 59,692 |
Loans, Components of Loan Portf
Loans, Components of Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 858,821 | $ 792,145 |
Percent of category | 100.00% | 100.00% |
Unearned income | $ (2,087) | $ (1,824) |
Total loans net of unearned income | 856,734 | 790,321 |
Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 543,431 | $ 526,537 |
Percent of category | 63.30% | 66.50% |
Real Estate [Member] | Construction & Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 55,700 | $ 52,094 |
Percent of category | 6.50% | 6.60% |
Real Estate [Member] | Farmland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 14,316 | $ 13,539 |
Percent of category | 1.70% | 1.70% |
Real Estate [Member] | 1- 4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 133,400 | $ 118,181 |
Percent of category | 15.50% | 14.90% |
Real Estate [Member] | Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 13,199 | $ 14,323 |
Percent of category | 1.50% | 1.80% |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 326,816 | $ 328,400 |
Percent of category | 38.10% | 41.50% |
Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 315,390 | $ 265,608 |
Percent of category | 36.70% | 33.50% |
Non-Real Estate [Member] | Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 30,830 | $ 26,278 |
Percent of category | 3.60% | 3.30% |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 231,069 | $ 196,339 |
Percent of category | 26.90% | 24.80% |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before unearned income | $ 53,491 | $ 42,991 |
Percent of category | 6.20% | 5.40% |
Loans, Fixed and Floating Rate
Loans, Fixed and Floating Rate Loans by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivables, Fixed and Floating Rate Loans by Contractual Maturity [Abstract] | ||
One year or less | $ 167,111 | $ 160,936 |
One to five years | 536,541 | 478,961 |
Five to 15 years | 91,761 | 106,646 |
Over 15 years | 42,887 | 33,408 |
Subtotal | 838,300 | 779,951 |
Nonaccrual loans | 20,521 | 12,194 |
Loans before unearned income | 858,821 | 792,145 |
Unearned income | (2,087) | (1,824) |
Total loans net of unearned income | 856,734 | 790,321 |
Fixed Rate Loans [Member] | ||
Financing Receivables, Fixed and Floating Rate Loans by Contractual Maturity [Abstract] | ||
One year or less | 105,416 | 88,686 |
One to five years | 287,054 | 253,306 |
Five to 15 years | 53,373 | 67,012 |
Over 15 years | 33,566 | 25,304 |
Subtotal | 479,409 | 434,308 |
Floating Rate Loans [Member] | ||
Financing Receivables, Fixed and Floating Rate Loans by Contractual Maturity [Abstract] | ||
One year or less | 61,695 | 72,250 |
One to five years | 249,487 | 225,655 |
Five to 15 years | 38,388 | 39,634 |
Over 15 years | 9,321 | 8,104 |
Subtotal | 358,891 | 345,643 |
Loans at interest rate floor | $ 190,700 | $ 195,700 |
Loans, Receivables Past Due (De
Loans, Receivables Past Due (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | $ 24,445 | $ 21,910 |
Current | 834,376 | 770,235 |
Loans before unearned income | 858,821 | 792,145 |
Recorded investment 90 days accruing | 57 | 599 |
Unearned income | (2,087) | (1,824) |
Total loans net of unearned income | 856,734 | 790,321 |
30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 3,867 | 9,117 |
90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 20,578 | 12,793 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 20,227 | 17,821 |
Current | 523,204 | 508,716 |
Loans before unearned income | 543,431 | 526,537 |
Recorded investment 90 days accruing | 57 | 599 |
Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 3,276 | 7,771 |
Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 16,951 | 10,050 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 1,575 | 824 |
Current | 54,125 | 51,270 |
Loans before unearned income | 55,700 | 52,094 |
Recorded investment 90 days accruing | 0 | 0 |
Real Estate [Member] | Construction & Land Development [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 697 | 338 |
Real Estate [Member] | Construction & Land Development [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 878 | 486 |
Real Estate [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 133 | 163 |
Current | 14,183 | 13,376 |
Loans before unearned income | 14,316 | 13,539 |
Recorded investment 90 days accruing | 0 | 0 |
Real Estate [Member] | Farmland [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 0 | 10 |
Real Estate [Member] | Farmland [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 133 | 153 |
Real Estate [Member] | 1- 4 Family [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 6,899 | 7,342 |
Current | 126,501 | 110,839 |
Loans before unearned income | 133,400 | 118,181 |
Recorded investment 90 days accruing | 57 | 599 |
Real Estate [Member] | 1- 4 Family [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 1,282 | 2,924 |
Real Estate [Member] | 1- 4 Family [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 5,617 | 4,418 |
Real Estate [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 9,583 | 2,990 |
Current | 3,616 | 11,333 |
Loans before unearned income | 13,199 | 14,323 |
Recorded investment 90 days accruing | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 399 | 2,990 |
Real Estate [Member] | Multifamily [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 9,184 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 2,037 | 6,502 |
Current | 324,779 | 321,898 |
Loans before unearned income | 326,816 | 328,400 |
Recorded investment 90 days accruing | 0 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 898 | 1,509 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 1,139 | 4,993 |
Non-Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 4,218 | 4,089 |
Current | 311,172 | 261,519 |
Loans before unearned income | 315,390 | 265,608 |
Recorded investment 90 days accruing | 0 | 0 |
Non-Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 591 | 1,346 |
Non-Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 3,627 | 2,743 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 1,570 | 832 |
Current | 29,260 | 25,446 |
Loans before unearned income | 30,830 | 26,278 |
Recorded investment 90 days accruing | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 90 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 1,480 | 832 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 2,156 | 3,148 |
Current | 228,913 | 193,191 |
Loans before unearned income | 231,069 | 196,339 |
Recorded investment 90 days accruing | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 331 | 1,241 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 1,825 | 1,907 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 492 | 109 |
Current | 52,999 | 42,882 |
Loans before unearned income | 53,491 | 42,991 |
Recorded investment 90 days accruing | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 170 | 105 |
Non-Real Estate [Member] | Consumer and Other [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | $ 322 | $ 4 |
Loans, Nonaccrual Loans (Detail
Loans, Nonaccrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 20,521 | $ 12,194 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 16,894 | 9,451 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 878 | 486 |
Real Estate [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 133 | 153 |
Real Estate [Member] | 1- 4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 5,560 | 3,819 |
Real Estate [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 9,184 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 1,139 | 4,993 |
Non-Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 3,627 | 2,743 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 1,480 | 832 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 1,825 | 1,907 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 322 | $ 4 |
Loans, Credit Exposure of Portf
Loans, Credit Exposure of Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | $ 858,821 | $ 792,145 |
Unearned income | (2,087) | (1,824) |
Total loans net of unearned income | 856,734 | 790,321 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 785,923 | 718,691 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 21,659 | 28,702 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 51,239 | 44,752 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 543,431 | 526,537 |
Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 486,194 | 467,232 |
Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 11,992 | 19,961 |
Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 45,245 | 39,344 |
Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 55,700 | 52,094 |
Real Estate [Member] | Construction & Land Development [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 50,849 | 46,451 |
Real Estate [Member] | Construction & Land Development [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 419 | 559 |
Real Estate [Member] | Construction & Land Development [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 4,432 | 5,084 |
Real Estate [Member] | Construction & Land Development [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 14,316 | 13,539 |
Real Estate [Member] | Farmland [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 14,182 | 13,299 |
Real Estate [Member] | Farmland [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 87 |
Real Estate [Member] | Farmland [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 134 | 153 |
Real Estate [Member] | Farmland [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | 1- 4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 133,400 | 118,181 |
Real Estate [Member] | 1- 4 Family [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 119,510 | 103,582 |
Real Estate [Member] | 1- 4 Family [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 6,288 | 6,113 |
Real Estate [Member] | 1- 4 Family [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 7,602 | 8,486 |
Real Estate [Member] | 1- 4 Family [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 13,199 | 14,323 |
Real Estate [Member] | Multifamily [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 4,015 | 3,581 |
Real Estate [Member] | Multifamily [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 6,414 |
Real Estate [Member] | Multifamily [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 9,184 | 4,328 |
Real Estate [Member] | Multifamily [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 326,816 | 328,400 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 297,638 | 300,319 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 5,285 | 6,788 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 23,893 | 21,293 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Non-Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 315,390 | 265,608 |
Non-Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 299,729 | 251,459 |
Non-Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 9,667 | 8,741 |
Non-Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 5,994 | 5,408 |
Non-Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 30,830 | 26,278 |
Non-Real Estate [Member] | Agricultural [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 26,999 | 22,789 |
Non-Real Estate [Member] | Agricultural [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 5 | 7 |
Non-Real Estate [Member] | Agricultural [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 3,826 | 3,482 |
Non-Real Estate [Member] | Agricultural [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 231,069 | 196,339 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 219,799 | 185,839 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 9,445 | 8,611 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 1,825 | 1,889 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 53,491 | 42,991 |
Non-Real Estate [Member] | Consumer and Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 52,931 | 42,831 |
Non-Real Estate [Member] | Consumer and Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 217 | 123 |
Non-Real Estate [Member] | Consumer and Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 343 | 37 |
Non-Real Estate [Member] | Consumer and Other [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | $ 0 | $ 0 |
Allowance for Loan Losses, Summ
Allowance for Loan Losses, Summary of Changes in Allowance for Loan Losses, by Portfolio Type (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | $ 9,105 | $ 10,355 |
Charge-offs | (2,418) | (3,082) |
Recoveries | 248 | 300 |
Provision | 2,878 | 1,054 |
Ending allowance | 9,813 | 8,627 |
Real Estate [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 6,380 | 7,504 |
Charge-offs | (1,719) | (2,665) |
Recoveries | 116 | 108 |
Provision | 2,085 | 916 |
Ending allowance | 6,862 | 5,863 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 702 | 1,530 |
Charge-offs | (329) | (1,032) |
Recoveries | 4 | 2 |
Provision | 597 | 230 |
Ending allowance | 974 | 730 |
Real Estate [Member] | Farmland [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 21 | 17 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 25 | 5 |
Ending allowance | 46 | 22 |
Real Estate [Member] | 1- 4 Family [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 2,131 | 1,974 |
Charge-offs | (288) | (208) |
Recoveries | 76 | 59 |
Provision | (349) | (71) |
Ending allowance | 1,570 | 1,754 |
Real Estate [Member] | Multifamily [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 813 | 376 |
Charge-offs | (948) | 0 |
Recoveries | 31 | 39 |
Provision | 933 | 106 |
Ending allowance | 829 | 521 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 2,713 | 3,607 |
Charge-offs | (154) | (1,425) |
Recoveries | 5 | 8 |
Provision | 879 | 646 |
Ending allowance | 3,443 | 2,836 |
Non-Real Estate [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 2,725 | 2,851 |
Charge-offs | (699) | (417) |
Recoveries | 132 | 192 |
Provision | 793 | 138 |
Ending allowance | 2,951 | 2,764 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 293 | 46 |
Charge-offs | (394) | (2) |
Recoveries | 2 | 1 |
Provision | 136 | (5) |
Ending allowance | 37 | 40 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 1,797 | 2,176 |
Charge-offs | (25) | (197) |
Recoveries | 14 | 21 |
Provision | 722 | (266) |
Ending allowance | 2,508 | 1,734 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 371 | 208 |
Charge-offs | (280) | (218) |
Recoveries | 116 | 170 |
Provision | 185 | 15 |
Ending allowance | 392 | 175 |
Non-Real Estate [Member] | Unallocated [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 264 | 421 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | (250) | 394 |
Ending allowance | $ 14 | $ 815 |
Allowance for Loan Losses, Su37
Allowance for Loan Losses, Summary of Allowance and Loans Individually and Collectively Evaluated for Impairment (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | $ 2,008 | $ 1,910 | ||
Allowance collectively evaluated for impairment | 7,805 | 7,195 | ||
Total allowance for credit losses | 9,813 | 9,105 | $ 8,627 | $ 10,355 |
Loans individually evaluated for impairment | 27,581 | 35,372 | ||
Loans collectively evaluated for impairment | 831,240 | 756,773 | ||
Total loans before unearned income | 858,821 | 792,145 | ||
Unearned income | (2,087) | (1,824) | ||
Total loans net of unearned income | 856,734 | 790,321 | ||
Real Estate [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 1,874 | 1,629 | ||
Allowance collectively evaluated for impairment | 4,988 | 4,751 | ||
Total allowance for credit losses | 6,862 | 6,380 | 5,863 | 7,504 |
Loans individually evaluated for impairment | 21,915 | 31,058 | ||
Loans collectively evaluated for impairment | 521,516 | 495,479 | ||
Total loans before unearned income | 543,431 | 526,537 | ||
Real Estate [Member] | Construction & Land Development [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 0 | 126 | ||
Allowance collectively evaluated for impairment | 974 | 576 | ||
Total allowance for credit losses | 974 | 702 | 730 | 1,530 |
Loans individually evaluated for impairment | 601 | 4,150 | ||
Loans collectively evaluated for impairment | 55,099 | 47,944 | ||
Total loans before unearned income | 55,700 | 52,094 | ||
Real Estate [Member] | Farmland [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 0 | 0 | ||
Allowance collectively evaluated for impairment | 46 | 21 | ||
Total allowance for credit losses | 46 | 21 | 22 | 17 |
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 14,316 | 13,539 | ||
Total loans before unearned income | 14,316 | 13,539 | ||
Real Estate [Member] | 1- 4 Family [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 677 | 598 | ||
Allowance collectively evaluated for impairment | 893 | 1,533 | ||
Total allowance for credit losses | 1,570 | 2,131 | 1,754 | 1,974 |
Loans individually evaluated for impairment | 3,095 | 3,420 | ||
Loans collectively evaluated for impairment | 130,305 | 114,761 | ||
Total loans before unearned income | 133,400 | 118,181 | ||
Real Estate [Member] | Multifamily [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 516 | 437 | ||
Allowance collectively evaluated for impairment | 313 | 376 | ||
Total allowance for credit losses | 829 | 813 | 521 | 376 |
Loans individually evaluated for impairment | 6,253 | 7,201 | ||
Loans collectively evaluated for impairment | 6,946 | 7,122 | ||
Total loans before unearned income | 13,199 | 14,323 | ||
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 681 | 468 | ||
Allowance collectively evaluated for impairment | 2,762 | 2,245 | ||
Total allowance for credit losses | 3,443 | 2,713 | 2,836 | 3,607 |
Loans individually evaluated for impairment | 11,966 | 16,287 | ||
Loans collectively evaluated for impairment | 314,850 | 312,113 | ||
Total loans before unearned income | 326,816 | 328,400 | ||
Non-Real Estate [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 134 | 281 | ||
Allowance collectively evaluated for impairment | 2,817 | 2,444 | ||
Total allowance for credit losses | 2,951 | 2,725 | 2,764 | 2,851 |
Loans individually evaluated for impairment | 5,666 | 4,314 | ||
Loans collectively evaluated for impairment | 309,724 | 261,294 | ||
Total loans before unearned income | 315,390 | 265,608 | ||
Non-Real Estate [Member] | Agricultural [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 18 | 262 | ||
Allowance collectively evaluated for impairment | 19 | 31 | ||
Total allowance for credit losses | 37 | 293 | 40 | 46 |
Loans individually evaluated for impairment | 3,703 | 2,650 | ||
Loans collectively evaluated for impairment | 27,127 | 23,628 | ||
Total loans before unearned income | 30,830 | 26,278 | ||
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 0 | 19 | ||
Allowance collectively evaluated for impairment | 2,508 | 1,778 | ||
Total allowance for credit losses | 2,508 | 1,797 | 1,734 | 2,176 |
Loans individually evaluated for impairment | 1,646 | 1,664 | ||
Loans collectively evaluated for impairment | 229,423 | 194,675 | ||
Total loans before unearned income | 231,069 | 196,339 | ||
Non-Real Estate [Member] | Consumer and Other [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 116 | 0 | ||
Allowance collectively evaluated for impairment | 276 | 371 | ||
Total allowance for credit losses | 392 | 371 | 175 | 208 |
Loans individually evaluated for impairment | 317 | 0 | ||
Loans collectively evaluated for impairment | 53,174 | 42,991 | ||
Total loans before unearned income | 53,491 | 42,991 | ||
Non-Real Estate [Member] | Unallocated [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 0 | 0 | ||
Allowance collectively evaluated for impairment | 14 | 264 | ||
Total allowance for credit losses | 14 | 264 | $ 815 | $ 421 |
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 0 | 0 | ||
Total loans before unearned income | $ 0 | $ 0 |
Allowance for Loan Losses, Impa
Allowance for Loan Losses, Impaired Loans by Class (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | $ 9,752 | $ 12,115 |
Unpaid principal balance | 10,968 | 15,023 |
Average recorded investment | 10,988 | 12,718 |
Interest income recognized | 407 | 742 |
Interest income cash basis | 324 | 576 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 12,429 | 17,394 |
Unpaid principal balance | 12,985 | 17,664 |
Related allowance | 1,492 | 1,871 |
Average recorded investment | 13,073 | 13,179 |
Interest income recognized | 503 | 522 |
Interest income cash basis | 420 | 512 |
Total impaired loans [Abstract] | ||
Recorded investment | 22,181 | 29,509 |
Unpaid principal balance | 23,953 | 32,687 |
Related allowance | 1,492 | 1,871 |
Average recorded investment | 24,061 | 25,897 |
Interest income recognized | 910 | 1,264 |
Interest income cash basis | 744 | 1,088 |
Real Estate [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 5,479 | 12,115 |
Unpaid principal balance | 6,478 | 15,023 |
Average recorded investment | 6,493 | 12,718 |
Interest income recognized | 223 | 742 |
Interest income cash basis | 234 | 576 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 11,036 | 13,080 |
Unpaid principal balance | 11,529 | 13,160 |
Related allowance | 1,358 | 1,590 |
Average recorded investment | 11,620 | 13,179 |
Interest income recognized | 429 | 522 |
Interest income cash basis | 400 | 512 |
Total impaired loans [Abstract] | ||
Related allowance | 1,358 | 1,590 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 601 | 3,308 |
Unpaid principal balance | 823 | 4,359 |
Average recorded investment | 826 | 3,479 |
Interest income recognized | 28 | 217 |
Interest income cash basis | 35 | 224 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 0 | 842 |
Unpaid principal balance | 0 | 842 |
Related allowance | 0 | 126 |
Average recorded investment | 0 | 829 |
Interest income recognized | 0 | 48 |
Interest income cash basis | 0 | 43 |
Total impaired loans [Abstract] | ||
Related allowance | 0 | 126 |
Real Estate [Member] | Farmland [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 0 | 0 |
Real Estate [Member] | 1- 4 Family [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 589 | 1,368 |
Unpaid principal balance | 881 | 1,656 |
Average recorded investment | 885 | 397 |
Interest income recognized | 38 | 72 |
Interest income cash basis | 39 | 43 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 2,506 | 2,052 |
Unpaid principal balance | 2,549 | 2,068 |
Related allowance | 677 | 598 |
Average recorded investment | 2,534 | 2,062 |
Interest income recognized | 99 | 97 |
Interest income cash basis | 55 | 87 |
Total impaired loans [Abstract] | ||
Related allowance | 677 | 598 |
Real Estate [Member] | Multifamily [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 853 | 0 |
Unpaid principal balance | 1,338 | 0 |
Average recorded investment | 1,338 | 148 |
Interest income recognized | 61 | 31 |
Interest income cash basis | 45 | 34 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 0 | 1,338 |
Unpaid principal balance | 0 | 1,337 |
Related allowance | 0 | 398 |
Average recorded investment | 0 | 1,340 |
Interest income recognized | 0 | 60 |
Interest income cash basis | 0 | 55 |
Total impaired loans [Abstract] | ||
Related allowance | 0 | 398 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 3,436 | 7,439 |
Unpaid principal balance | 3,436 | 9,008 |
Average recorded investment | 3,444 | 8,694 |
Interest income recognized | 96 | 422 |
Interest income cash basis | 115 | 275 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 8,530 | 8,848 |
Unpaid principal balance | 8,980 | 8,913 |
Related allowance | 681 | 468 |
Average recorded investment | 9,086 | 8,948 |
Interest income recognized | 330 | 317 |
Interest income cash basis | 345 | 327 |
Total impaired loans [Abstract] | ||
Related allowance | 681 | 468 |
Non-Real Estate [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 4,273 | 0 |
Unpaid principal balance | 4,490 | 0 |
Average recorded investment | 4,495 | 0 |
Interest income recognized | 184 | 0 |
Interest income cash basis | 90 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 1,393 | 4,314 |
Unpaid principal balance | 1,456 | 4,504 |
Related allowance | 134 | 281 |
Average recorded investment | 1,453 | 0 |
Interest income recognized | 74 | 0 |
Interest income cash basis | 20 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 134 | 281 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 2,627 | 0 |
Unpaid principal balance | 2,636 | 0 |
Average recorded investment | 2,641 | 0 |
Interest income recognized | 124 | 0 |
Interest income cash basis | 90 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 1,076 | 2,650 |
Unpaid principal balance | 1,139 | 2,650 |
Related allowance | 18 | 262 |
Average recorded investment | 1,112 | 0 |
Interest income recognized | 53 | 0 |
Interest income cash basis | 0 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 18 | 262 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 1,646 | 0 |
Unpaid principal balance | 1,854 | 0 |
Average recorded investment | 1,854 | 0 |
Interest income recognized | 60 | 0 |
Interest income cash basis | 0 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 0 | 1,664 |
Unpaid principal balance | 0 | 1,854 |
Related allowance | 0 | 19 |
Average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 0 | 19 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 317 | 0 |
Unpaid principal balance | 317 | 0 |
Related allowance | 116 | 0 |
Average recorded investment | 341 | 0 |
Interest income recognized | 21 | 0 |
Interest income cash basis | 20 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | $ 116 | $ 0 |
Allowance for Loan Losses, Trou
Allowance for Loan Losses, Troubled Debt Restructurings (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015USD ($)Contract | Dec. 31, 2014USD ($) | |
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | $ 3,436 | $ 2,998 |
Accruing loans, 30-89 days past due | 0 | 2,204 |
Nonaccrual | 2,562 | 230 |
Total TDRs | $ 5,998 | 5,432 |
Raw Land [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Number of troubled debt restructurings | Contract | 1 | |
Total TDRs | $ 600 | |
Real Estate [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | 3,436 | 2,998 |
Accruing loans, 30-89 days past due | 0 | 2,204 |
Nonaccrual | 2,562 | 230 |
Total TDRs | 5,998 | 5,432 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | 0 | 0 |
Accruing loans, 30-89 days past due | 0 | 0 |
Nonaccrual | 601 | 0 |
Total TDRs | 601 | 0 |
Real Estate [Member] | Farmland [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | 0 | 0 |
Accruing loans, 30-89 days past due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total TDRs | 0 | 0 |
Real Estate [Member] | 1- 4 Family [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | 0 | 0 |
Accruing loans, 30-89 days past due | 0 | 1,752 |
Nonaccrual | 1,726 | 0 |
Total TDRs | 1,726 | 1,752 |
Real Estate [Member] | Multifamily [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | 0 | 0 |
Accruing loans, 30-89 days past due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total TDRs | 0 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | 3,436 | 2,998 |
Accruing loans, 30-89 days past due | 0 | 452 |
Nonaccrual | 235 | 230 |
Total TDRs | 3,671 | 3,680 |
Non-Real Estate [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | 0 | 0 |
Accruing loans, 30-89 days past due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | 0 | 0 |
Accruing loans, 30-89 days past due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | 0 | 0 |
Accruing loans, 30-89 days past due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Troubled Debt Restructuring [Abstract] | ||
Accruing loans, current | 0 | 0 |
Accruing loans, 30-89 days past due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total TDRs | $ 0 | $ 0 |
Allowance for Loan Losses, TDR
Allowance for Loan Losses, TDR Activity (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2015USD ($)Contract | |
TDR activity [Roll Forward] | |
Beginning balance | $ 5,432 |
New TDRs | 601 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | (35) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | $ 5,998 |
Number of TDR loans that subsequently defaulted | Contract | 1 |
Troubled debt restructured lending relationship that subsequently defaulted | $ 1,700 |
1- 4 Family [Member] | |
TDR activity [Roll Forward] | |
Number of TDR loans that subsequently defaulted | Contract | 1 |
Troubled debt restructured lending relationship that subsequently defaulted | $ 1,700 |
Raw Land [Member] | |
TDR activity [Roll Forward] | |
Ending balance | 600 |
Real Estate [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 5,432 |
New TDRs | 601 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | (35) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | 5,998 |
Real Estate [Member] | Construction & Land Development [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 601 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | 601 |
Real Estate [Member] | Farmland [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | 0 |
Real Estate [Member] | 1- 4 Family [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 1,752 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | (26) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | 1,726 |
Real Estate [Member] | Multifamily [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 3,680 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | (9) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | 3,671 |
Non-Real Estate [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | 0 |
Non-Real Estate [Member] | Agricultural [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Ending balance | $ 0 |
Goodwill and Other Intangible41
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill | $ 1,999 | $ 1,999 |
Impairment charges recognized on the Company's intangible assets | 0 | |
Mortgage servicing rights | $ 100 | $ 100 |
Core Deposits [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-average remaining amortization period | 4 years 8 months 12 days |
Other Real Estate (ORE) (Detail
Other Real Estate (ORE) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Real Estate Owned Acquired by Foreclosure [Abstract] | ||
Residential | $ 840 | $ 1,121 |
Construction & land development | 106 | 127 |
Non-farm non-residential | 1,392 | 950 |
Total Other Real Estate Owned and Foreclosed Property | 2,338 | $ 2,198 |
Loans secured by one to four family residential properties in the process of foreclosure | $ 700 |
Commitments and Contingencies43
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Notional value | $ 88,780 | $ 59,675 |
Unfunded Commitments Under Lines of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Notional value | 109,527 | 111,247 |
Commercial and Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Notional value | $ 7,948 | $ 7,743 |
Accumulated Other Comprehensi44
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | $ 139,583 | $ 123,405 | ||
Reclassification adjustment to net income [Abstract] | ||||
Realized gains on securities | $ (2,233) | $ (91) | (3,172) | (300) |
Balance | 148,325 | 136,408 | 148,325 | 136,408 |
Unrealized Gain (Loss) on Securities Available for Sale [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | 241 | (9,134) | ||
Reclassification adjustment to net income [Abstract] | ||||
Realized gains on securities | (3,172) | (300) | ||
Provision for income taxes | 1,078 | 102 | ||
Unrealized gains arising during the period, net of tax | 3,015 | 8,091 | ||
Balance | $ 1,162 | $ (1,241) | $ 1,162 | $ (1,241) |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2014 | Sep. 30, 2015 | |
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | $ 499,808 | $ 301,330 |
U.S. Treasuries [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Level 1 securities available for sale | 17,000 | |
Recurring Basis [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 499,808 | 301,330 |
Recurring Basis [Member] | Level 1: Quoted Prices in Active Markets For Identical Assets [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 36,504 | 19,507 |
Recurring Basis [Member] | Level 2: Significant Other Observable Inputs [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 454,524 | 274,195 |
Recurring Basis [Member] | Level 3: Significant Unobservable Inputs [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 8,780 | 7,628 |
Non-Recurring Basis [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Impaired loans measured at fair value | 20,862 | 9,878 |
Other real estate owned measured at fair value | 2,198 | 2,338 |
Non-Recurring Basis [Member] | Level 1: Quoted Prices in Active Markets For Identical Assets [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Impaired loans measured at fair value | 0 | 0 |
Other real estate owned measured at fair value | 0 | 0 |
Non-Recurring Basis [Member] | Level 2: Significant Other Observable Inputs [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Impaired loans measured at fair value | 5,244 | 4,229 |
Other real estate owned measured at fair value | 1,847 | 1,844 |
Non-Recurring Basis [Member] | Level 3: Significant Unobservable Inputs [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Impaired loans measured at fair value | 15,618 | 5,649 |
Other real estate owned measured at fair value | $ 351 | $ 494 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Assets [Abstract] | ||
Securities available for sale measured at fair value | $ 301,330 | $ 499,808 |
Securities, held to maturity | 216,586 | 139,688 |
Accrued interest receivable | 6,477 | 6,384 |
Carrying Value [Member] | ||
Assets [Abstract] | ||
Cash and cash equivalents | 17,649 | 44,575 |
Securities available for sale measured at fair value | 301,330 | 499,808 |
Securities, held to maturity | 216,424 | 141,795 |
Federal Home Loan Bank stock | 915 | 1,621 |
Loans, net of allowance for loan losses | 846,921 | 781,216 |
Accrued interest receivable | 6,477 | 6,384 |
Liabilities [Abstract] | ||
Deposits | 1,272,139 | 1,371,839 |
Borrowings | 2,806 | 3,255 |
Accrued interest payable | 1,951 | 1,997 |
Estimated Fair Value [Member] | ||
Assets [Abstract] | ||
Cash and cash equivalents | 17,649 | 44,575 |
Securities available for sale measured at fair value | 301,330 | 499,808 |
Securities, held to maturity | 216,586 | 139,688 |
Federal Home Loan Bank stock | 915 | 1,621 |
Loans, net of allowance for loan losses | 846,980 | 780,470 |
Accrued interest receivable | 6,477 | 6,384 |
Liabilities [Abstract] | ||
Deposits | 1,273,347 | 1,373,537 |
Borrowings | 2,806 | 3,255 |
Accrued interest payable | $ 1,951 | $ 1,997 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions | Nov. 12, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Subsequent Event [Line Items] | ||||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | $ 1 | |
Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Common stock sold in public offering (in shares) | 600,000 | |||
Common stock, par value (in dollars per share) | $ 1 | |||
Public offering price per share (in dollars per share) | $ 18.50 | |||
Gross proceeds from public offering of common stock | $ 11.1 | |||
Subsequent Event [Member] | Underwriter [Member] | Maximum [Member] | ||||
Subsequent Event [Line Items] | ||||
Option to purchase additional shares of common stock (in shares) | 90,000 |