EXHIBIT 99.1
OCTOBER 31, 2016
NEWS FOR IMMEDIATE RELEASE
CONTACT: ERIC J. DOSCH, CFO
985.375.0308
First Guaranty Bancshares, Inc. Announces Third Quarter 2016 Results
Hammond, Louisiana, October 31, 2016 – First Guaranty Bancshares, Inc. (the "Company" or "First Guaranty") (NASDAQ: FGBI), the holding company for First Guaranty Bank, announced its unaudited financial results for the quarter ending September 30, 2016.
Just as the strength and diversity, both geographically and by industry, of the assets of First Guaranty Bancshares, Inc., gave First Guaranty the ability to continue to progress steadily through the turmoil of the oil price crash, the same factors have given First Guaranty the ability to continue through the great flood of August 2016 toward the goal of a fortress balance sheet. As of September 30, 2016, loans totaled $910.7 million, compared to $856.7 million as of September 30, 2015. The loan portfolio actually peaked at a total of $920.1 million in September prior to pay downs in our syndicated loan portfolio. By the same token, our securities portfolio decreased to $475.1 million as we successfully continue our strategy of moving assets from lower yielding securities to higher yielding loans. This strategy translated to income as the total interest income for the third quarter of 2016 was $14.7 million, an approximately $0.8 million increase over the third quarter of 2015.
For the year to date through September 30, 2016 total interest income was $43.8 million compared to $42.0 million as of September 30, 2015. Due to the redemption of the SBLF Preferred Stock through the use of senior debt and subordinated debt, total interest expense for the year to date increased approximately $1.1 million over the same period of 2015. Non-interest expense increased by approximately $1.3 million year to date in part due to expenses related to the great flood and in part due to increased employee benefit expense.
Bottom line, after oil and high water, income available to common shareholders as of September 30, 2016 totaled $10.9 million, up approximately $0.1 million from the nine months ended September 30, 2015.
Another positive indicator of increased earning capacity was the net interest margin for the quarter ended September 30, 2016 was 3.41% and for the nine months year to date 3.38% compared to 3.28% for the quarter ended September 30, 2015 and 3.21% for the nine months ended September 30, 2015.
Total Shareholders' equity was $129.1 million as of September 30, 2016 up from $118.2 million as of December 31, 2015. In December 2015, First Guaranty issued a 10% stock dividend which resulted in a dilution of $1.56 per share. As of September 30, 2016, First Guaranty had earned back $0.96 or 61% of that dilution. If earnings continue as projected, the projected earn back date of the stock dividend dilution is February 28, 2017, fourteen months from issuance.
For the 93rd consecutive quarter First Guaranty paid a quarterly dividend. The dividend for the third quarter of 2016 was $0.16 per share. Since 1993, First Guaranty has paid a total of $60.5 million in common dividends to shareholders.
The loans to deposits ratio improved to 72.5% as of September 30, 2016 up from 70.0% as of June 30, 2016 and 67.3% as of September 30, 2015. Once again, in accord with our business plan, First Guaranty sold additional securities to fund the loan growth.
As of September 30, 2016, nonperforming assets had decreased to $22.6 million compared to $25.0 million as of June 30, 2016 and $26.0 million as of March 31, 2016.
Alton B. Lewis, President and CEO commented: "Through the first three quarters of 2016, First Guaranty has continued to make progress in the face of adverse conditions. Everyone in the organization is working together toward our common goals to maximize shareholder value. These efforts benefit our shareholders, our employees, our customers, and our communities."
About First Guaranty
First Guaranty, a Louisiana-based company, has approximately $1.4 billion in assets as of September 30, 2016 and provides personalized commercial banking services through 21 banking facilities located across Louisiana. For more information, visit www.fgb.net.
Certain statements contained herein are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may be identified by reference to a future period or periods, or by the use of forward looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of those terms. Forward looking statements are subject to numerous risks and uncertainties, as described in our SEC filings, including, but not limited to, those related to the real estate and economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity.
The Company wishes to caution readers not to place undue reliance on any such forward looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions, which may be made to any forward looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
| CONSOLIDATED BALANCE SHEETS (unaudited) | ||||||||
| (in thousands, except share data) | September 30, 2016 | December 31, 2015 | ||||||
| Assets | ||||||||
| Cash and cash equivalents: | ||||||||
| Cash and due from banks | $ | 23,528 | $ | 36,690 | ||||
| Federal funds sold | 285 | 582 | ||||||
| Cash and cash equivalents | 23,813 | 37,272 | ||||||
| Interest-earning time deposits with banks | - | 997 | ||||||
| Investment securities: | ||||||||
| Available for sale, at fair value | 382,711 | 376,369 | ||||||
Held to maturity, at cost (estimated fair value of $93,858 and $168,148 respectively) | 92,396 | 169,752 | ||||||
| Investment securities | 475,107 | 546,121 | ||||||
| Federal Home Loan Bank stock, at cost | 1,609 | 935 | ||||||
| Loans, net of unearned income | 910,745 | 841,583 | ||||||
| Less: allowance for loan losses | 10,251 | 9,415 | ||||||
| Net loans | 900,494 | 832,168 | ||||||
| Premises and equipment, net | 22,572 | 22,019 | ||||||
| Goodwill | 1,999 | 1,999 | ||||||
| Intangible assets, net | 1,139 | 1,394 | ||||||
| Other real estate, net | 781 | 1,577 | ||||||
| Accrued interest receivable | 6,388 | 6,015 | ||||||
| Other assets | 6,598 | 9,256 | ||||||
| Total Assets | $ | 1,440,500 | $ | 1,459,753 | ||||
| Liabilities and Shareholders' Equity | ||||||||
| Deposits: | ||||||||
| Noninterest-bearing demand | $ | 231,210 | $ | 213,203 | ||||
| Interest-bearing demand | 398,296 | 409,209 | ||||||
| Savings | 93,749 | 81,448 | ||||||
| Time | 533,716 | 592,010 | ||||||
| Total deposits | 1,256,971 | 1,295,870 | ||||||
| Short-term borrowings | 9,500 | 1,800 | ||||||
| Accrued interest payable | 2,103 | 1,707 | ||||||
| Senior long-term debt | 23,504 | 25,824 | ||||||
| Junior subordinated debentures | 14,622 | 14,597 | ||||||
| Other liabilities | 4,653 | 1,731 | ||||||
| Total Liabilities | 1,311,353 | 1,341,529 | ||||||
| Shareholders' Equity | ||||||||
Common stock:1 | ||||||||
| $1 par value - authorized 100,600,000 shares; issued 7,609,194 shares | 7,609 | 7,609 | ||||||
| Surplus | 61,584 | 61,584 | ||||||
| Retained earnings | 57,210 | 49,932 | ||||||
| Accumulated other comprehensive income (loss) | 2,744 | (901 | ) | |||||
| Total Shareholders' Equity | 129,147 | 118,224 | ||||||
| Total Liabilities and Shareholders' Equity | $ | 1,440,500 | $ | 1,459,753 | ||||
| See Notes to Consolidated Financial Statements | ||||||||
| 1 All share amounts have been restated to reflect the ten percent stock dividend paid December 17, 2015 to shareholders of record as of December 10, 2015. | ||||||||
| CONSOLIDATED STATEMENTS OF INCOME (unaudited) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| (in thousands, except share data) | 2016 | 2015 | 2016 | 2015 | ||||||||||||
| Interest Income: | ||||||||||||||||
| Loans (including fees) | $ | 11,642 | $ | 10,551 | $ | 33,749 | $ | 31,680 | ||||||||
| Deposits with other banks | 11 | 14 | 55 | 56 | ||||||||||||
| Securities (including FHLB stock) | 2,998 | 3,312 | 10,013 | 10,256 | ||||||||||||
| Total Interest Income | 14,651 | 13,877 | 43,817 | 41,992 | ||||||||||||
| Interest Expense: | ||||||||||||||||
| Demand deposits | 662 | 348 | 1,902 | 1,052 | ||||||||||||
| Savings deposits | 19 | 9 | 54 | 26 | ||||||||||||
| Time deposits | 1,470 | 1,727 | 4,541 | 5,369 | ||||||||||||
| Borrowings | 369 | 35 | 1,126 | 104 | ||||||||||||
| Total Interest Expense | 2,520 | 2,119 | 7,623 | 6,551 | ||||||||||||
Net Interest Income | 12,131 | 11,758 | 36,194 | 35,441 | ||||||||||||
| Less: Provision for loan losses | 1,242 | 1,868 | 2,978 | 2,878 | ||||||||||||
| Net Interest Income after Provision for Loan Losses | 10,889 | 9,890 | 33,216 | 32,563 | ||||||||||||
| Noninterest Income: | ||||||||||||||||
| Service charges, commissions and fees | 573 | 717 | 1,839 | 2,045 | ||||||||||||
| ATM and debit card fees | 451 | 441 | 1,366 | 1,328 | ||||||||||||
| Net gains on securities | 1,171 | 2,233 | 3,756 | 3,172 | ||||||||||||
| Net gain on sale of loans | 6 | - | 9 | 4 | ||||||||||||
| Other | 350 | 320 | 1,056 | 1,022 | ||||||||||||
| Total Noninterest Income | 2,551 | 3,711 | 8,026 | 7,571 | ||||||||||||
| Noninterest Expense: | ||||||||||||||||
| Salaries and employee benefits | 4,170 | 3,841 | 12,411 | 11,747 | ||||||||||||
| Occupancy and equipment expense | 1,125 | 951 | 3,096 | 2,920 | ||||||||||||
| Other | 3,003 | 2,976 | 9,207 | 8,716 | ||||||||||||
| Total Noninterest Expense | 8,298 | 7,768 | 24,714 | 23,383 | ||||||||||||
| Income Before Income Taxes | 5,142 | 5,833 | 16,528 | 16,751 | ||||||||||||
| Less: Provision for income taxes | 1,763 | 1,951 | 5,597 | 5,614 | ||||||||||||
| Net Income | 3,379 | 3,882 | 10,931 | 11,137 | ||||||||||||
| Preferred Stock Dividends | - | (99 | ) | - | (296 | ) | ||||||||||
| Income Available to Common Shareholders | $ | 3,379 | $ | 3,783 | $ | 10,931 | $ | 10,841 | ||||||||
Per Common Share:1 | ||||||||||||||||
| Earnings | $ | 0.44 | $ | 0.55 | $ | 1.44 | $ | 1.57 | ||||||||
| Cash dividends paid | $ | 0.16 | $ | 0.15 | $ | 0.48 | $ | 0.45 | ||||||||
| Weighted Average Common Shares Outstanding | 7,609,194 | 6,920,022 | 7,609,194 | 6,920,022 | ||||||||||||
| See Notes to Consolidated Financial Statements | ||||||||||||||||
| 1 All share amounts have been restated to reflect the ten percent stock dividend paid December 17, 2015 to shareholders of record as of December 10, 2015. | ||||||||||||||||
| FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY | ||||||||||||||||||||||||
| CONSOLIDATED AVERAGE BALANCE SHEETS (unaudited) | ||||||||||||||||||||||||
Three Months Ended September 30, 2016 | Three Months Ended September 30, 2015 | |||||||||||||||||||||||
(in thousands except for %) | Average Balance | Interest | Yield/Rate (5) | Average Balance | Interest | Yield/Rate (5) | ||||||||||||||||||
| Assets | ||||||||||||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||||||
| Interest-earning deposits with banks | $ | 14,365 | $ | 11 | 0.30 | % | $ | 25,591 | $ | 14 | 0.22 | % | ||||||||||||
| Securities (including FHLB stock) | 488,769 | 2,998 | 2.44 | % | 572,143 | 3,312 | 2.30 | % | ||||||||||||||||
| Federal funds sold | 279 | - | - | % | 334 | - | - | % | ||||||||||||||||
| Loans held for sale | - | - | - | % | - | - | - | % | ||||||||||||||||
| Loans, net of unearned income | 910,341 | 11,642 | 5.09 | % | 825,393 | 10,551 | 5.07 | % | ||||||||||||||||
| Total interest-earning assets | 1,413,754 | $ | 14,651 | 4.12 | % | 1,423,461 | $ | 13,877 | 3.87 | % | ||||||||||||||
| Noninterest-earning assets: | ||||||||||||||||||||||||
| Cash and due from banks | 8,230 | 7,435 | ||||||||||||||||||||||
| Premises and equipment, net | 22,257 | 20,528 | ||||||||||||||||||||||
| Other assets | 3,298 | 7,364 | ||||||||||||||||||||||
| Total Assets | $ | 1,447,539 | $ | 1,458,788 | ||||||||||||||||||||
| Liabilities and Shareholders' Equity | ||||||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||
| Demand deposits | $ | 405,196 | $ | 662 | 0.65 | % | $ | 373,901 | $ | 348 | 0.37 | % | ||||||||||||
| Savings deposits | 90,160 | 19 | 0.08 | % | 78,138 | 9 | 0.05 | % | ||||||||||||||||
| Time deposits | 550,736 | 1,470 | 1.06 | % | 636,481 | 1,727 | 1.08 | % | ||||||||||||||||
| Borrowings | 48,478 | 369 | 3.03 | % | 7,464 | 35 | 1.86 | % | ||||||||||||||||
| Total interest-bearing liabilities | 1,094,570 | $ | 2,520 | 0.92 | % | 1,095,984 | $ | 2,119 | 0.77 | % | ||||||||||||||
| Noninterest-bearing liabilities: | ||||||||||||||||||||||||
| Demand deposits | 218,187 | 210,568 | ||||||||||||||||||||||
| Other | 5,384 | 4,547 | ||||||||||||||||||||||
| Total Liabilities | 1,318,141 | 1,311,099 | ||||||||||||||||||||||
| Shareholders' equity | 129,398 | 147,689 | ||||||||||||||||||||||
| Total Liabilities and Shareholders' Equity | $ | 1,447,539 | $ | 1,458,788 | ||||||||||||||||||||
| Net interest income | $ | 12,131 | $ | 11,758 | ||||||||||||||||||||
Net interest rate spread (1) | 3.20 | % | 3.10 | % | ||||||||||||||||||||
Net interest-earning assets (2) | $ | 319,184 | $ | 327,477 | ||||||||||||||||||||
Net interest margin (3), (4) | 3.41 | % | 3.28 | % | ||||||||||||||||||||
| Average interest-earning assets to interest-bearing liabilities | 129.16 | % | 129.88 | % | ||||||||||||||||||||
| (1) | Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. |
| (2) | Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. |
| (3) | Net interest margin represents net interest income divided by average total interest-earning assets. |
| (4) | The tax adjusted net interest margin was 3.43% and 3.31% for the above periods ended September 30, 2016 and 2015 respectively. A 35% tax rate was used to calculate the effect on securities income from tax exempt securities. |
| (5) | Annualized. |
| FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY | ||||||||||||||||||||||||
| CONSOLIDATED AVERAGE BALANCE SHEETS (unaudited) | ||||||||||||||||||||||||
Nine Months Ended September 30, 2016 | Nine Months Ended September 30, 2015 | |||||||||||||||||||||||
(in thousands except for %) | Average Balance | Interest | Yield/Rate (5) | Average Balance | Interest | Yield/Rate (5) | ||||||||||||||||||
| Assets | ||||||||||||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||||||
| Interest-earning deposits with banks | $ | 20,926 | $ | 55 | 0.35 | % | $ | 30,841 | $ | 56 | 0.24 | % | ||||||||||||
| Securities (including FHLB stock) | 538,748 | 10,013 | 2.48 | % | 638,320 | 10,256 | 2.15 | % | ||||||||||||||||
| Federal funds sold | 257 | - | - | % | 312 | - | - | % | ||||||||||||||||
| Loans held for sale | - | - | - | % | - | - | - | % | ||||||||||||||||
| Loans, net of unearned income | 869,325 | 33,749 | 5.19 | % | 805,947 | 31,680 | 5.26 | % | ||||||||||||||||
| Total interest-earning assets | 1,429,256 | $ | 43,817 | 4.10 | % | 1,475,420 | $ | 41,992 | 3.81 | % | ||||||||||||||
| Noninterest-earning assets: | ||||||||||||||||||||||||
| Cash and due from banks | 7,988 | 7,025 | ||||||||||||||||||||||
| Premises and equipment, net | 22,099 | 19,896 | ||||||||||||||||||||||
| Other assets | 3,855 | 6,299 | ||||||||||||||||||||||
| Total Assets | $ | 1,463,198 | $ | 1,508,640 | ||||||||||||||||||||
| Liabilities and Shareholders' Equity | ||||||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||
| Demand deposits | $ | 414,633 | $ | 1,902 | 0.61 | % | $ | 412,053 | $ | 1,052 | 0.34 | % | ||||||||||||
| Savings deposits | 87,344 | 54 | 0.08 | % | 76,591 | 26 | 0.05 | % | ||||||||||||||||
| Time deposits | 570,615 | 4,541 | 1.06 | % | 652,050 | 5,369 | 1.10 | % | ||||||||||||||||
| Borrowings | 43,485 | 1,126 | 3.46 | % | 5,909 | 104 | 2.36 | % | ||||||||||||||||
| Total interest-bearing liabilities | 1,116,077 | $ | 7,623 | 0.91 | % | 1,146,603 | $ | 6,551 | 0.76 | % | ||||||||||||||
| Noninterest-bearing liabilities: | ||||||||||||||||||||||||
| Demand deposits | 217,474 | 210,598 | ||||||||||||||||||||||
| Other | 4,384 | 5,245 | ||||||||||||||||||||||
| Total Liabilities | 1,337,935 | 1,362,446 | ||||||||||||||||||||||
| Shareholders' equity | 125,263 | 146,194 | ||||||||||||||||||||||
| Total Liabilities and Shareholders' Equity | $ | 1,463,198 | $ | 1,508,640 | ||||||||||||||||||||
| Net interest income | $ | 36,194 | $ | 35,441 | ||||||||||||||||||||
Net interest rate spread (1) | 3.19 | % | 3.05 | % | ||||||||||||||||||||
Net interest-earning assets (2) | $ | 313,179 | $ | 328,817 | ||||||||||||||||||||
Net interest margin (3), (4) | 3.38 | % | 3.21 | % | ||||||||||||||||||||
| Average interest-earning assets to interest-bearing liabilities | 128.06 | % | 128.68 | % | ||||||||||||||||||||
| (1) | Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. |
| (2) | Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. |
| (3) | Net interest margin represents net interest income divided by average total interest-earning assets. |
| (4) | The tax adjusted net interest margin was 3.41% and 3.24% for the above periods ended September 30, 2016 and 2015 respectively. A 35% tax rate was used to calculate the effect on securities income from tax exempt securities. |
| (5) | Annualized. |
The following table summarizes the components of First Guaranty's loan portfolio as of September 30, 2016, June 30, 2016, March 31, 2016 and December 31, 2015:
| September 30, 2016 | June 30, 2016 | March 31, 2016 | December 31, 2015 | |||||||||||||||||||||||||||||
| (in thousands except for %) | Balance | As % of Category | Balance | As % of Category | Balance | As % of Category | Balance | As % of Category | ||||||||||||||||||||||||
Real Estate: | ||||||||||||||||||||||||||||||||
| Construction & land development | $ | 78,659 | 8.6 | % | $ | 71,736 | 8.0 | % | $ | 69,875 | 8.1 | % | $ | 56,132 | 6.6 | % | ||||||||||||||||
| Farmland | 21,561 | 2.4 | % | 21,455 | 2.4 | % | 22,037 | 2.6 | % | 17,672 | 2.1 | % | ||||||||||||||||||||
| 1- 4 Family | 139,651 | 15.3 | % | 137,522 | 15.3 | % | 131,543 | 15.3 | % | 129,610 | 15.4 | % | ||||||||||||||||||||
| Multifamily | 12,585 | 1.4 | % | 12,682 | 1.4 | % | 10,830 | 1.3 | % | 12,629 | 1.5 | % | ||||||||||||||||||||
| Non-farm non-residential | 366,400 | 40.1 | % | 352,582 | 39.3 | % | 333,048 | 38.9 | % | 323,363 | 38.3 | % | ||||||||||||||||||||
| Total Real Estate | 618,856 | 67.8 | % | 595,977 | 66.4 | % | 567,333 | 66.2 | % | 539,406 | 63.9 | % | ||||||||||||||||||||
| Non-Real Estate: | ||||||||||||||||||||||||||||||||
| Agricultural | 29,866 | 3.3 | % | 27,561 | 3.1 | % | 23,266 | 2.7 | % | 25,838 | 3.1 | % | ||||||||||||||||||||
| Commercial and industrial | 206,630 | 22.6 | % | 214,270 | 23.8 | % | 206,178 | 24.1 | % | 224,201 | 26.6 | % | ||||||||||||||||||||
| Consumer and other | 57,393 | 6.3 | % | 60,475 | 6.7 | % | 59,925 | 7.0 | % | 54,163 | 6.4 | % | ||||||||||||||||||||
| Total Non-Real Estate | 293,889 | 32.2 | % | 302,306 | 33.6 | % | 289,369 | 33.8 | % | 304,202 | 36.1 | % | ||||||||||||||||||||
| Total loans before unearned income | 912,745 | 100.0 | % | 898,283 | 100.0 | % | 856,702 | 100.0 | % | 843,608 | 100.0 | % | ||||||||||||||||||||
| Unearned income | (2,000 | ) | (1,899 | ) | (1,926 | ) | (2,025 | ) | ||||||||||||||||||||||||
| Total loans net of unearned income | $ | 910,745 | $ | 896,384 | $ | 854,776 | $ | 841,583 | ||||||||||||||||||||||||
The table below sets forth the amounts and categories of our nonperforming assets at the dates indicated.
| (in thousands) | September 30, 2016 | June 30, 2016 | March 31, 2016 | December 31, 2015 | ||||||||||||
| Nonaccrual loans: | ||||||||||||||||
| Real Estate: | ||||||||||||||||
| Construction and land development | $ | 551 | $ | 551 | $ | 555 | $ | 558 | ||||||||
| Farmland | 108 | 111 | 118 | 117 | ||||||||||||
| 1 - 4 family residential | 2,579 | 4,383 | 4,749 | 4,538 | ||||||||||||
| Multifamily | 5,097 | 5,152 | 5,262 | 9,045 | ||||||||||||
| Non-farm non-residential | 1,526 | 1,741 | 1,935 | 2,934 | ||||||||||||
| Total Real Estate | 9,861 | 11,938 | 12,619 | 17,192 | ||||||||||||
| Non-Real Estate: | ||||||||||||||||
| Agricultural | 2,393 | 2,630 | 3,537 | 2,628 | ||||||||||||
| Commercial and industrial | 7,790 | 7,878 | 8,266 | 48 | ||||||||||||
| Consumer and other | 1,045 | 1,022 | - | 171 | ||||||||||||
| Total Non-Real Estate | 11,228 | 11,530 | 11,803 | 2,847 | ||||||||||||
| Total nonaccrual loans | 21,089 | 23,468 | 24,422 | 20,039 | ||||||||||||
| Loans 90 days and greater delinquent & accruing: | ||||||||||||||||
| Real Estate: | ||||||||||||||||
| Construction and land development | - | - | - | - | ||||||||||||
| Farmland | - | - | - | 19 | ||||||||||||
| 1 - 4 family residential | 688 | 276 | 216 | 391 | ||||||||||||
| Multifamily | - | - | - | - | ||||||||||||
| Non-farm non-residential | - | 91 | 129 | - | ||||||||||||
| Total Real Estate | 688 | 367 | 345 | 410 | ||||||||||||
| Non-Real Estate: | ||||||||||||||||
| Agricultural | - | - | - | - | ||||||||||||
| Commercial and industrial | - | - | - | - | ||||||||||||
| Consumer and other | - | - | - | - | ||||||||||||
| Total Non-Real Estate | - | - | - | - | ||||||||||||
| Total loans 90 days and greater delinquent & accruing | 688 | 367 | 345 | 410 | ||||||||||||
| Total non-performing loans | 21,777 | 23,835 | 24,767 | 20,449 | ||||||||||||
| Real Estate Owned: | ||||||||||||||||
| Real Estate Loans: | ||||||||||||||||
| Construction and land development | 21 | 21 | 25 | 25 | ||||||||||||
| Farmland | - | - | - | - | ||||||||||||
| 1 - 4 family residential | 206 | 498 | 564 | 880 | ||||||||||||
| Multifamily | - | - | - | - | ||||||||||||
| Non-farm non-residential | 554 | 607 | 637 | 672 | ||||||||||||
| Total Real Estate | 781 | 1,126 | 1,226 | 1,577 | ||||||||||||
| Non-Real Estate Loans: | ||||||||||||||||
| Agricultural | - | - | - | - | ||||||||||||
| Commercial and industrial | - | - | - | - | ||||||||||||
| Consumer and other | - | - | - | - | ||||||||||||
| Total Non-Real Estate | - | - | - | - | ||||||||||||
| Total Real Estate Owned | 781 | 1,126 | 1,226 | 1,577 | ||||||||||||
| Total non-performing assets | 22,558 | $ | 24,961 | $ | 25,993 | $ | 22,026 | |||||||||
| Non-performing assets to total loans | 2.48 | % | 2.78 | % | 3.04 | % | 2.62 | % | ||||||||
| Non-performing assets to total assets | 1.57 | % | 1.71 | % | 1.77 | % | 1.51 | % | ||||||||
| Non-performing loans to total loans | 2.39 | % | 2.66 | % | 2.90 | % | 2.43 | % | ||||||||