Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 11, 2017 | |
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 | 7,609,194 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 |
CONSOLIDATED BALANCE SHEETS (un
CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 17,802 | $ 17,840 |
Federal funds sold | 291 | 271 |
Cash and cash equivalents | 18,093 | 18,111 |
Investment securities: | ||
Available for sale, at fair value | 425,994 | 397,473 |
Held to maturity, at cost (estimated fair value of $97,100 and $99,906 respectively) | 98,847 | 101,863 |
Investment securities | 524,841 | 499,336 |
Federal Home Loan Bank stock, at cost | 1,819 | 1,816 |
Loans, net of unearned income | 994,439 | 948,921 |
Less: allowance for loan losses | 11,647 | 11,114 |
Net loans | 982,792 | 937,807 |
Premises and equipment, net | 25,156 | 23,519 |
Goodwill | 1,999 | 1,999 |
Intangible assets, net | 974 | 1,056 |
Other real estate, net | 239 | 359 |
Accrued interest receivable | 6,954 | 7,039 |
Other assets | 9,464 | 9,904 |
Total Assets | 1,572,331 | 1,500,946 |
Deposits: | ||
Noninterest-bearing demand | 234,469 | 231,094 |
Interest-bearing demand | 545,619 | 479,810 |
Savings | 100,256 | 97,280 |
Time | 521,924 | 517,997 |
Total deposits | 1,402,268 | 1,326,181 |
Short-term borrowings | 2,000 | 6,500 |
Accrued interest payable | 1,962 | 1,931 |
Senior long-term debt | 21,326 | 22,100 |
Junior subordinated debentures | 14,638 | 14,630 |
Other liabilities | 3,232 | 5,255 |
Total Liabilities | 1,445,426 | 1,376,597 |
Common stock: | ||
$1 par value - authorized 100,600,000 shares; issued 7,609,194 shares | 7,609 | 7,609 |
Surplus | 61,584 | 61,584 |
Retained earnings | 61,189 | 59,155 |
Accumulated other comprehensive income (loss) | (3,477) | (3,999) |
Total Shareholders' Equity | 126,905 | 124,349 |
Total Liabilities and Shareholders' Equity | $ 1,572,331 | $ 1,500,946 |
CONSOLIDATED BALANCE SHEETS (u3
CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Investment securities: | ||
Held to maturity, estimated fair value | $ 97,100 | $ 99,906 |
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) | 7,609,194 | 7,609,194 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest Income: | ||
Loans (including fees) | $ 12,200 | $ 10,801 |
Deposits with other banks | 19 | 30 |
Securities (including FHLB stock) | 3,403 | 3,589 |
Total Interest Income | 15,622 | 14,420 |
Interest Expense: | ||
Demand deposits | 1,082 | 614 |
Savings deposits | 36 | 18 |
Time deposits | 1,444 | 1,564 |
Borrowings | 366 | 392 |
Total Interest Expense | 2,928 | 2,588 |
Net Interest Income | 12,694 | 11,832 |
Less: Provision for loan losses | 711 | 843 |
Net Interest Income after Provision for Loan Losses | 11,983 | 10,989 |
Noninterest Income: | ||
Service charges, commissions and fees | 562 | 657 |
ATM and debit card fees | 474 | 444 |
Net gains on securities | 530 | 354 |
Net gain on sale of loans | 5 | 0 |
Other | 385 | 379 |
Total Noninterest Income | 1,956 | 1,834 |
Noninterest Expense: | ||
Salaries and employee benefits | 4,826 | 4,097 |
Occupancy and equipment expense | 1,031 | 972 |
Other | 3,137 | 3,030 |
Total Noninterest Expense | 8,994 | 8,099 |
Income Before Income Taxes | 4,945 | 4,724 |
Less: Provision for income taxes | 1,694 | 1,573 |
Net Income | $ 3,251 | $ 3,151 |
Per Common Share: | ||
Earnings (in dollars per share) | $ 0.43 | $ 0.41 |
Cash dividends paid (in dollars per share) | $ 0.16 | $ 0.16 |
Weighted Average Common Shares Outstanding (in shares) | 7,609,194 | 7,609,194 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) [Abstract] | ||
Net Income | $ 3,251 | $ 3,151 |
Unrealized gains on securities: | ||
Unrealized holding gains arising during the period | 1,320 | 5,119 |
Reclassification adjustments for gains included in net income | (530) | (354) |
Change in unrealized gains on securities | 790 | 4,765 |
Tax impact | (268) | (1,620) |
Other comprehensive income | 522 | 3,145 |
Comprehensive Income | $ 3,773 | $ 6,296 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands | Common Stock $1 Par [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income/(Loss) [Member] | Total |
Balance at Dec. 31, 2015 | $ 7,609 | $ 61,584 | $ 49,932 | $ (901) | $ 118,224 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 0 | 0 | 3,151 | 0 | 3,151 |
Other comprehensive income | 0 | 0 | 0 | 3,145 | 3,145 |
Cash dividends on common stock | 0 | 0 | (1,217) | 0 | (1,217) |
Balance at Mar. 31, 2016 | 7,609 | 61,584 | 51,866 | 2,244 | 123,303 |
Balance at Dec. 31, 2016 | 7,609 | 61,584 | 59,155 | (3,999) | 124,349 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 0 | 0 | 3,251 | 0 | 3,251 |
Other comprehensive income | 0 | 0 | 0 | 522 | 522 |
Cash dividends on common stock | 0 | 0 | (1,217) | 0 | (1,217) |
Balance at Mar. 31, 2017 | $ 7,609 | $ 61,584 | $ 61,189 | $ (3,477) | $ 126,905 |
CONSOLIDATED STATEMENTS OF CHA7
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) [Abstract] | ||
Cash dividends per share (in dollars per share) | $ 0.16 | $ 0.16 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Cash Flows From Operating Activities | ||
Net income | $ 3,251 | $ 3,151 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 711 | 843 |
Depreciation and amortization | 554 | 530 |
Amortization/Accretion of investments | 447 | 529 |
Gain on sale/call of securities | (530) | (354) |
Gain on sale of assets | (5) | (60) |
Repossessed asset write downs, gains and losses on dispositions | 45 | 34 |
FHLB stock dividends | (3) | (1) |
Change in other assets and liabilities, net | (1,783) | 2,766 |
Net Cash Provided By Operating Activities | 2,687 | 7,438 |
Cash Flows From Investing Activities | ||
Proceeds from maturities, calls and sales of certificates of deposit | 0 | 250 |
Proceeds from maturities and calls of HTM securities | 2,880 | 20,428 |
Proceeds from maturities, calls and sales of AFS securities | 222,511 | 224,142 |
Funds Invested in AFS securities | (250,022) | (250,617) |
Funds invested in Federal Home Loan Bank stock | 0 | (368) |
Net increase in loans | (45,696) | (14,036) |
Purchase of premises and equipment | (2,063) | (1,020) |
Proceeds from sales of premises and equipment | 0 | 950 |
Proceeds from sales of other real estate owned | 90 | 317 |
Net Cash Used In Investing Activities | (72,300) | (19,954) |
Cash Flows From Financing Activities | ||
Net increase in deposits | 76,087 | 4,857 |
Net decrease in federal funds purchased and short-term borrowings | (4,500) | (1,800) |
Repayment of long-term borrowings | (775) | (775) |
Dividends paid | (1,217) | (1,217) |
Net Cash Provided By Financing Activities | 69,595 | 1,065 |
Net Decrease In Cash and Cash Equivalents | (18) | (11,451) |
Cash and Cash Equivalents at the Beginning of the Period | 18,111 | 37,272 |
Cash and Cash Equivalents at the End of the Period | 18,093 | 25,821 |
Noncash Activities: | ||
Loans transferred to foreclosed assets | 0 | 0 |
Cash Paid During The Period: | ||
Interest on deposits and borrowed funds | 2,897 | 2,013 |
Income taxes | $ 4,200 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2017 | |
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") 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, 2016. 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 March 31, 2017 and for the three months periods ended March 31, 2017 and 2016 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 particularly susceptible to significant change in the near-term relate to the determination of the allowance for loan losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, and the valuation of investment securities. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2017 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Note 2. Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, "Conforming Amendments Related to Leases". This ASU amends the codification regarding leases in order to increase transparency and comparability. The ASU requires companies to recognize lease assets and liabilities on the statement of condition and disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. The ASU is effective for annual and interim periods beginning after December 15, 2018. The adoption of this ASU is not expected to have a material effect on First Guaranty's Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13, "Measurement of Credit Losses on Financial Instruments". This ASU amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. The ASU amendments require the measurement of all expected credit losses for financial assets held at the reporting date be based on historical experience, current conditions, and reasonable and supportable forecasts. The ASU requires assets held at cost basis to reflect the First Guaranty's current estimate of all expected credit losses. For available for sale debt securities, credit losses should be presented as an allowance rather than as a write-down. In addition, this ASU amends the accounting for purchased financial assets with credit deterioration. This ASU is effective for annual and interim periods beginning after December 15, 2019. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment". This ASU amends the guidance on impairment testing. The ASU eliminates Step 2 from the goodwill impairment test. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit should be considered when measuring the goodwill impairment loss, if applicable. The ASU also eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This ASU is effective for annual and interim periods beginning after December 15, 2019. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-01, "Business Combinations: Clarifying the Definition of a Business". This ASU clarifies the definition of a business. The amendments affect all companies and other reporting organizations that must determine whether they have acquired or sold a business. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. This ASU is intended to help companies and other organizations evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This ASU is effective for annual and interim periods beginning December 15, 2017. The adoption of this ASU is not expected to have a material effect on the Consolidated Financial Statements. In March 2017, the FASB issued ASU 2017-08, "Receivables - Nonrefundable Fees and Other Costs, Premium Amortization on Purchased Callable Debt Securities". This ASU shortens the amortization period for certain callable debt securities held at a premium. Specifically, this ASU requires the premium to be amortized to the earliest call date. This ASU does not require an accounting change for securities held at a discount, the discount continues to be amortized to maturity. This ASU is effective for annual and interim periods beginning after December 15, 2018. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2017 | |
Securities [Abstract] | |
Securities | Note 3. Securities A summary comparison of securities by type at March 31, 2017 and December 31, 2016 is shown below. March 31, 2017 December 31, 2016 (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 $ 23,597 $ - $ - $ 23,597 $ 29,994 $ - $ - $ 29,994 U.S. Government Agencies 227,522 21 (4,421 ) 223,122 183,152 - (4,820 ) 178,332 Corporate debt securities 119,083 1,383 (1,572 ) 118,894 132,448 1,624 (2,100 ) 131,972 Mutual funds or other equity securities 500 - (7 ) 493 580 - (7 ) 573 Municipal bonds 27,306 103 (255 ) 27,154 28,177 100 (320 ) 27,957 Mortgage-backed securities 33,255 - (521 ) 32,734 29,181 - (536 ) 28,645 Total available-for-sale securities $ 431,263 $ 1,507 $ (6,776 ) $ 425,994 $ 403,532 $ 1,724 $ (7,783 ) $ 397,473 Held-to-maturity: U.S. Government Agencies $ 18,167 $ - $ (623 ) $ 17,544 $ 18,167 $ - $ (655 ) $ 17,512 Mortgage-backed securities 80,680 - (1,124 ) 79,556 83,696 - (1,302 ) 82,394 Total held-to-maturity securities $ 98,847 $ - $ (1,747 ) $ 97,100 $ 101,863 $ - $ (1,957 ) $ 99,906 The scheduled maturities of securities at March 31, 2017, 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. March 31, 2017 (in thousands) Amortized Cost Fair Value Available For Sale: Due in one year or less $ 32,686 $ 32,763 Due after one year through five years 80,432 80,821 Due after five years through 10 years 259,680 255,142 Over 10 years 25,210 24,534 Subtotal 398,008 393,260 Mortgage-backed Securities 33,255 32,734 Total available-for-sale securities $ 431,263 $ 425,994 Held to Maturity: Due in one year or less $ - $ - Due after one year through five years 4,998 4,955 Due after five years through 10 years 13,169 12,589 Over 10 years - - Subtotal 18,167 17,544 Mortgage-backed Securities 80,680 79,556 Total held to maturity securities $ 98,847 $ 97,100 At March 31, 2017, $399.9 million of First Guaranty's securities were pledged to secure public fund deposits and borrowings. The pledged securities had a market value of $398.2 million as of March 31, 2017. The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses at March 31, 2017. At March 31, 2017 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 5 $ 23,597 $ - - $ - $ - 5 $ 23,597 $ - U.S. Government agencies 68 204,904 (4,421 ) - - - 68 204,904 (4,421 ) Corporate debt securities 156 51,438 (1,203 ) 22 5,953 (369 ) 178 57,391 (1,572 ) Mutual funds or other equity securities 1 493 (7 ) - - - 1 493 (7 ) Municipal bonds 12 9,901 (255 ) - - - 12 9,901 (255 ) Mortgage-backed securities 21 32,734 (521 ) - - - 21 32,734 (521 ) Total available-for-sale 263 $ 323,067 $ (6,407 ) 22 $ 5,953 $ (369 ) 285 $ 329,020 $ (6,776 ) Held to maturity: U.S. Government agencies 10 17,544 (623 ) - - - 10 17,544 (623 ) Mortgage-backed securities 46 76,979 (1,124 ) - - - 46 76,979 (1,124 ) Total held to maturity 56 $ 94,523 $ (1,747 ) - $ - $ - 56 $ 94,523 $ (1,747 ) 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, 2016. At December 31, 2016 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 3 $ 10,997 $ - - $ - $ - 3 $ 10,997 $ - U.S. Government agencies 54 178,331 (4,820 ) - - - 54 178,331 (4,820 ) Corporate debt securities 185 61,669 (1,613 ) 26 6,440 (487 ) 211 68,109 (2,100 ) Mutual funds or other equity securities 1 493 (7 ) - - - 1 493 (7 ) Municipal bonds 14 10,210 (320 ) - - - 14 10,210 (320 ) Mortgage-backed securities 16 28,645 (536 ) - - - 16 28,645 (536 ) Total available for sale 273 $ 290,345 $ (7,296 ) 26 $ 6,440 $ (487 ) 299 $ 296,785 $ (7,783 ) Held to maturity: U.S. Government agencies 10 $ 17,512 $ (655 ) - $ - $ - 10 $ 17,512 $ (655 ) Mortgage-backed securities 48 82,394 (1,302 ) - - - 48 82,394 (1,302 ) Total held to maturity 58 $ 99,906 $ (1,957 ) - $ - $ - 58 $ 99,906 $ (1,957 ) As of March 31, 2017, 341 of First Guaranty's debt securities had unrealized losses totaling 2.0% of the individual securities' amortized cost basis and 1.6% of First Guaranty's total amortized cost basis of the investment securities portfolio. 22 of the 341 securities had been in a continuous loss position for over 12 months at such date. The 22 securities had an aggregate amortized cost basis of $6.3 million and an unrealized loss of $0.4 million at March 31, 2017. Management has the intent and ability to hold these debt securities until maturity or until anticipated recovery. 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. Investment securities issued by the U.S. Government and Government sponsored enterprises with unrealized losses and the amount of unrealized losses on those investment securities are the result of changes in market interest rates will not be other-than-temporarily impaired. First Guaranty has the ability and intent to hold these securities until recovery, which may not be until maturity. Corporate debt securities in a loss position consist primarily of corporate bonds issued by businesses in the financial, insurance, utility, manufacturing, industrial, consumer products and oil and gas industries. Two securities with an other-than-temporary impairment loss were held at March 31, 2017. First Guaranty believes that the remaining 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. There were no other-than-temporary impairment losses recognized on securities during the first three months ended March 31, 2017 and 2016. The following table presents a roll-forward of the amount of credit losses on debt securities held by First Guaranty for which a portion of OTTI was recognized in other comprehensive income for the quarters ended March 31, 2017 and 2016: (in thousands) Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Beginning balance of credit losses at end of prior year $ 60 $ 175 Other-than-temporary impairment credit losses on securities not previously OTTI - - Increases for additional credit losses on securities previously determined to be OTTI - - Reduction for increases in cash flows - - Reduction due to credit impaired securities sold or fully settled - - Ending balance of cumulative credit losses recognized in earnings at end of period $ 60 $ 175 In the first quarter of 2017 there were no other-than-temporary impairment credit losses on securities for which we had previously recognized OTTI. For securities that have indications of credit related impairment, management analyzes future expected cash flows to determine if any credit related impairment is evident. Estimated cash flows are determined using management's best estimate of future cash flows based on specific assumptions. The assumptions used to determine the cash flows were based on estimates of loss severity and credit default probabilities. Management reviews reports from credit rating agencies and public filings of issuers. At March 31, 2017, First Guaranty's exposure to bond issuers that exceeded 10% of shareholders' equity is below: At March 31, 2017 (in thousands) Amortized Cost Fair Value U.S. Government Treasuries (U.S.) $ 23,597 $ 23,597 Federal Home Loan Bank (FHLB) 53,341 52,238 Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) 59,637 59,057 Federal National Mortgage Association (Fannie Mae-FNMA) 106,483 104,024 Federal Farm Credit Bank (FFCB) 140,163 137,637 Total $ 383,221 $ 376,553 |
Loans
Loans | 3 Months Ended |
Mar. 31, 2017 | |
Loans [Abstract] | |
Loans | Note 4. Loans The following table summarizes the components of First Guaranty's loan portfolio as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 (in thousands except for %) Balance As % of Category Balance As % of Category Real Estate: Construction & land development $ 86,376 8.7 % $ 84,239 8.9 % Farmland 23,348 2.3 % 21,138 2.2 % 1- 4 Family 139,665 14.0 % 135,211 14.2 % Multifamily 12,440 1.3 % 12,450 1.3 % Non-farm non-residential 436,217 43.8 % 417,014 43.9 % Total Real Estate 698,046 70.1 % 670,052 70.5 % Non-Real Estate: Agricultural 23,178 2.3 % 23,783 2.5 % Commercial and industrial 206,158 20.7 % 193,969 20.4 % Consumer and other 69,090 6.9 % 63,011 6.6 % Total Non-Real Estate 298,426 29.9 % 280,763 29.5 % Total loans before unearned income 996,472 100.0 % 950,815 100.0 % Unearned income (2,033 ) (1,894 ) Total loans net of unearned income $ 994,439 $ 948,921 The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of March 31, 2017 and December 31, 2016 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. March 31, 2017 December 31, 2016 (in thousands) Fixed Floating Total Fixed Floating Total One year or less $ 96,257 $ 58,391 $ 154,648 $ 97,713 $ 51,965 $ 149,678 More Than One to five years 375,962 209,099 585,061 352,000 206,676 558,676 More Than Five to 15 years 126,803 44,474 171,277 115,691 46,116 161,807 Over 15 years 58,076 6,431 64,507 53,150 5,830 58,980 Subtotal $ 657,098 $ 318,395 975,493 $ 618,554 $ 310,587 929,141 Nonaccrual loans 20,979 21,674 Total loans before unearned income 996,472 950,815 Unearned income (2,033 ) (1,894 ) Total loans net of unearned income $ 994,439 $ 948,921 As of March 31, 2017, $100.9 million of floating rate loans were at their interest rate floor. At December 31, 2016, $127.7 million of floating rate loans were at the floor rate. Nonaccrual loans have been excluded from these totals. The following tables present the age analysis of past due loans at March 31, 2017 and December 31, 2016: As of March 31, 2017 (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 $ 352 $ 399 $ 751 $ 85,625 $ 86,376 $ - Farmland 623 97 720 22,628 23,348 - 1 - 4 family 2,537 2,446 4,983 134,682 139,665 50 Multifamily - 5,058 5,058 7,382 12,440 - Non-farm non-residential 642 2,600 3,242 432,975 436,217 - Total Real Estate 4,154 10,600 14,754 683,292 698,046 50 Non-Real Estate: Agricultural 1,546 1,630 3,176 20,002 23,178 - Commercial and industrial 1,395 8,078 9,473 196,685 206,158 - Consumer and other 120 721 841 68,249 69,090 - Total Non-Real Estate 3,061 10,429 13,490 284,936 298,426 - Total loans before unearned income $ 7,215 $ 21,029 $ 28,244 $ 968,228 $ 996,472 $ 50 Unearned income (2,033 ) Total loans net of unearned income $ 994,439 As of December 31, 2016 (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 $ 173 $ 585 $ 758 $ 83,481 $ 84,239 $ 34 Farmland 234 105 339 20,799 21,138 - 1 - 4 family 1,108 2,387 3,495 131,716 135,211 145 Multifamily - 5,014 5,014 7,436 12,450 - Non-farm non-residential 1,618 2,753 4,371 412,643 417,014 - Total Real Estate 3,133 10,844 13,977 656,075 670,052 179 Non-Real Estate: Agricultural 64 1,958 2,022 21,761 23,783 - Commercial and industrial 552 8,070 8,622 185,347 193,969 - Consumer and other 182 981 1,163 61,848 63,011 - Total Non-Real Estate 798 11,009 11,807 268,956 280,763 - Total loans before unearned income $ 3,931 $ 21,853 $ 25,784 $ 925,031 $ 950,815 $ 179 Unearned income (1,894 ) Total loans net of unearned income $ 948,921 The tables above include $21.0 million and $21.7 million of nonaccrual loans at March 31, 2017 and December 31, 2016, 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 March 31, 2017 As of December 31, 2016 Real Estate: Construction & land development $ 399 $ 551 Farmland 97 105 1 - 4 family 2,396 2,242 Multifamily 5,058 5,014 Non-farm non-residential 2,600 2,753 Total Real Estate 10,550 10,665 Non-Real Estate: Agricultural 1,630 1,958 Commercial and industrial 8,078 8,070 Consumer and other 721 981 Total Non-Real Estate 10,429 11,009 Total Nonaccrual Loans $ 20,979 $ 21,674 The following table identifies the credit exposure of the loan portfolio by specific credit ratings as of the dates indicated: As of March 31, 2017 As of December 31, 2016 (in thousands) Pass Special Mention Substandard Doubtful Total Pass Special Mention Substandard Doubtful Total Real Estate: Construction & land development $ 81,495 $ 1,482 $ 3,399 $ - $ 86,376 $ 79,069 $ 1,162 $ 4,008 $ - $ 84,239 Farmland 22,686 565 97 - 23,348 20,652 381 105 - 21,138 1 - 4 family 127,583 5,220 6,862 - 139,665 123,191 5,460 6,560 - 135,211 Multifamily 4,237 1,109 7,094 - 12,440 4,268 1,132 7,050 - 12,450 Non-farm non-residential 413,390 5,342 17,485 - 436,217 392,355 6,406 18,253 - 417,014 Total Real Estate 649,391 13,718 34,937 - 698,046 619,535 14,541 35,976 - 670,052 Non-Real Estate: Agricultural 20,993 540 1,645 - 23,178 20,890 920 1,973 - 23,783 Commercial and industrial 192,019 3,408 3,001 7,730 206,158 182,381 850 3,008 7,730 193,969 Consumer and other 67,047 1,265 778 - 69,090 60,582 1,394 1,035 - 63,011 Total Non-Real Estate 280,059 5,213 5,424 7,730 298,426 263,853 3,164 6,016 7,730 280,763 Total loans before unearned income $ 929,450 $ 18,931 $ 40,361 $ 7,730 $ 996,472 $ 883,388 $ 17,705 $ 41,992 $ 7,730 $ 950,815 Unearned income (2,033 ) (1,894 ) Total loans net of unearned income $ 994,439 $ 948,921 |
Allowance for Loan Losses
Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2017 | |
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 three months ended March 31, 2017 and 2016 are as follows: For the Three Months Ended March 31, 2017 2016 (in thousands) Beginning Allowance (12/31/2016) Charge-offs Recoveries Provision Ending Allowance (3/31/2017) Beginning Allowance (12/31/2015) Charge-offs Recoveries Provision Ending Allowance (3/31/2016) Real Estate: Construction & land development $ 1,232 $ - $ 1 $ (92 ) $ 1,141 $ 962 $ - $ 1 $ 199 $ 1,162 Farmland 19 - - (13 ) 6 54 - - (33 ) 21 1 - 4 family 1,204 - 14 (154 ) 1,064 1,771 (59 ) 8 (528 ) 1,192 Multifamily 591 - 10 8 609 557 - 361 (606 ) 312 Non-farm non-residential 3,451 - 2 367 3,820 3,298 (641 ) - 399 3,056 Total real estate 6,497 - 27 116 6,640 6,642 (700 ) 370 (569 ) 5,743 Non-Real Estate: Agricultural 74 (33 ) 8 13 62 16 - - (7 ) 9 Commercial and industrial 3,543 (45 ) 5 625 4,128 2,527 (241 ) 4 1,049 3,339 Consumer and other 972 (206 ) 66 (15 ) 817 230 (332 ) 56 370 324 Unallocated 28 - - (28 ) - - - - - - Total Non-Real Estate 4,617 (284 ) 79 595 5,007 2,773 (573 ) 60 1,412 3,672 Total $ 11,114 $ (284 ) $ 106 $ 711 $ 11,647 $ 9,415 $ (1,273 ) $ 430 $ 843 $ 9,415 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 March 31, 2017 (in thousands) Allowance Individually Evaluated for Impairment Allowance Collectively Evaluated for Impairment Total Allowance for Credit Losses Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment Total Loans before Unearned Income Real Estate: Construction & land development $ - $ 1,141 $ 1,141 $ 358 $ 86,018 $ 86,376 Farmland - 6 6 - 23,348 23,348 1 - 4 family 2 1,062 1,064 1,116 138,549 139,665 Multifamily 208 401 609 5,058 7,382 12,440 Non-farm non-residential 858 2,962 3,820 11,225 424,992 436,217 Total Real Estate 1,068 5,572 6,640 17,757 680,289 698,046 Non-Real Estate: Agricultural 3 59 62 1,399 21,779 23,178 Commercial and industrial 2,369 1,759 4,128 9,192 196,966 206,158 Consumer and other - 817 817 686 68,404 69,090 Unallocated - - - - - - Total Non-Real Estate 2,372 2,635 5,007 11,277 287,149 298,426 Total $ 3,440 $ 8,207 $ 11,647 $ 29,034 $ 967,438 $ 996,472 Unearned Income (2,033 ) Total loans net of unearned income $ 994,439 As of December 31, 2016 (in thousands) Allowance Individually Evaluated For Impairment Allowance Collectively Evaluated for Impairment Total Allowance for Credit Losses Loans Individually Evaluated For Impairment Loans Collectively Evaluated for Impairment Total Loans before Unearned Income Real Estate: Construction & land development $ - $ 1,232 $ 1,232 $ 361 $ 83,878 $ 84,239 Farmland - 19 19 - 21,138 21,138 1 - 4 family 8 1,196 1,204 1,130 134,081 135,211 Multifamily 164 427 591 5,014 7,436 12,450 Non-farm non-residential 247 3,204 3,451 10,803 406,211 417,014 Total Real Estate 419 6,078 6,497 17,308 652,744 670,052 Non-Real Estate: Agricultural 11 63 74 1,614 22,169 23,783 Commercial and industrial 2,375 1,168 3,543 8,965 185,004 193,969 Consumer and other 193 779 972 924 62,087 63,011 Unallocated - 28 28 - - - Total Non-Real Estate 2,579 2,038 4,617 11,503 269,260 280,763 Total $ 2,998 $ 8,116 $ 11,114 $ 28,811 $ 922,004 $ 950,815 Unearned Income (1,894 ) Total loans net of unearned income $ 948,921 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 March 31, 2017 (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 $ 358 $ 823 $ - $ 360 $ - $ - Farmland - - - - - - 1 - 4 family 856 1,195 - 914 12 9 Multifamily - - - - - - Non-farm non-residential 7,632 8,571 - 8,204 67 68 Total Real Estate 8,846 10,589 - 9,478 79 77 Non-Real Estate: Agricultural 1,121 1,415 - 1,239 - - Commercial and industrial 255 255 - 258 - - Consumer and other 686 686 - 686 - - Total Non-Real Estate 2,062 2,356 - 2,183 - - Total Impaired Loans with no related allowance 10,908 12,945 - 11,661 79 77 Impaired Loans with an allowance recorded: Real Estate: Construction & land development - - - - - - Farmland - - - - - - 1 - 4 family 260 299 2 264 - - Multifamily 5,058 5,414 208 5,001 - - Non-farm non-residential 3,593 3,593 858 3,593 45 37 Total Real Estate 8,911 9,306 1,068 8,858 45 37 Non-Real Estate: Agricultural 277 377 3 277 - - Commercial and industrial 8,938 9,099 2,369 8,947 17 17 Consumer and other - - - - - - Total Non-Real Estate 9,215 9,476 2,372 9,224 17 17 Total Impaired Loans with an allowance recorded 18,126 18,782 3,440 18,082 62 54 Total Impaired Loans $ 29,034 $ 31,727 $ 3,440 $ 29,743 $ 141 $ 131 The following is a summary of impaired loans by class as of the date indicated: As of December 31, 2016 (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 $ 361 $ 823 $ - $ 363 $ - $ - Farmland - - - - - - 1 - 4 family 863 1,196 - 1,044 49 48 Multifamily - - - - - - Non-farm non-residential 8,501 9,430 - 8,949 196 175 Total Real Estate 9,725 11,449 - 10,356 245 223 Non-Real Estate: Agricultural 1,603 1,742 - 1,377 30 - Commercial and industrial - - - - - - Consumer and other 686 685 - 724 18 12 Total Non-Real Estate 2,289 2,427 - 2,101 48 12 Total Impaired Loans with no related allowance 12,014 13,876 - 12,457 293 235 Impaired Loans with an allowance recorded: Real Estate: Construction & land development - - - - - - Farmland - - - - - - 1 - 4 family 267 303 8 279 - - Multifamily 5,014 5,305 164 5,169 - - Non-farm non-residential 2,302 2,296 247 2,334 119 113 Total Real Estate 7,583 7,904 419 7,782 119 113 Non-Real Estate: Agricultural 11 11 11 11 - - Commercial and industrial 8,965 9,117 2,375 9,379 72 72 Consumer and other 238 244 193 289 8 7 Total Non-Real Estate 9,214 9,372 2,579 9,679 80 79 Total Impaired Loans with an allowance recorded 16,797 17,276 2,998 17,461 199 192 Total Impaired Loans $ 28,811 $ 31,152 $ 2,998 $ 29,918 $ 492 $ 427 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 has not restructured any loans that are considered troubled debt restructurings in the three months ended March 31, 2017. The following table identifies the troubled debt restructurings as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 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 $ - $ - $ 358 $ 358 $ - $ - $ 361 $ 361 Farmland - - - - - - - - 1-4 Family - - - - - - - - Multifamily - - - - - - - - Non-farm non residential 2,138 - 100 2,238 2,987 - 100 3,087 Total Real Estate 2,138 - 458 2,596 2,987 - 461 3,448 Non-Real Estate: Agricultural - - - - - - - - Commercial and industrial - - - - - - - - Consumer and other - - - - - - - - Total Non-Real Estate - - - - - - - - Total $ 2,138 $ - $ 458 $ 2,596 $ 2,987 $ - $ 461 $ 3,448 The following table discloses TDR activity for the three months ended March 31, 2017. Troubled Debt Restructured Loans Activity Three Months Ended March 31, 2017 (in thousands) Beginning balance December 31, 2016 New TDRs Charge-offs post-modification Transferred to ORE Paydowns Construction to permanent financing Restructured to market terms Other adjustments Ending balance March 31, 2017 Real Estate: Construction & land development $ 361 $ - $ - $ - $ (3 ) $ - $ - $ - $ 358 Farmland - - - - - - - - - 1 - 4 family - - - - - - - - - Multifamily - - - - - - - - - Non-farm non-residential 3,087 - - - (849 ) - - - 2,238 Total Real Estate 3,448 - - - (852 ) - - - 2,596 Non-Real Estate: Agricultural - - - - - - - - - Commercial and industrial - - - - - - - - - Consumer and other - - - - - - - - - Total Non-Real Estate - - - - - - - - - Total $ 3,448 $ - $ - $ - $ (852 ) $ - $ - - $ 2,596 There were no commitments to lend additional funds to debtors whose terms have been modified in a troubled debt restructuring at March 31, 2017. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016. No impairment charges have been recognized on First Guaranty's intangible assets. |
Other Real Estate (ORE)
Other Real Estate (ORE) | 3 Months Ended |
Mar. 31, 2017 | |
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) March 31, 2017 December 31, 2016 Real Estate Owned Acquired by Foreclosure: Residential $ 43 $ 71 Construction & land development - - Non-farm non-residential 196 288 Total Other Real Estate Owned and Foreclosed Property $ 239 $ 359 Loans secured by one-to-four family residential properties in the process of foreclosure totaled $0.7 million as of March 31, 2017. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016: Contract Amount (in thousands) March 31, 2017 December 31, 2016 Commitments to Extend Credit $ 49,344 $ 56,910 Unfunded Commitments under lines of credit $ 117,740 $ 128,428 Commercial and Standby letters of credit $ 6,880 $ 6,602 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 March 31, 2017, any incremental liability arising from First Guaranty's legal proceedings will not have a material adverse effect on First Guaranty's financial position. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 9. Fair Value Measurements 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 March 31, 2017 and December 31, 2016, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) March 31, 2017 December 31, 2016 Available for Sale Securities Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ 24,091 $ 30,487 Level 2: Significant Other Observable Inputs 383,293 347,586 Level 3: Significant Unobservable Inputs 18,610 19,400 Securities available for sale measured at fair value $ 425,994 $ 397,473 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, 2016 to March 31, 2017 was due principally to a net decrease in Treasury bills of $6.4 million. The change in Level 2 securities available for sale from December 31, 2016 to March 31, 2017 was due principally to the purchase of government agency securities offset by the sale of corporate bond securities. The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of March 31, 2017 and December 31, 2016, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) At March 31, 2017 At December 31, 2016 Impaired Loans - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ - $ - Level 2: Significant Other Observable Inputs 259 259 Level 3: Significant Unobservable Inputs 19,219 18,559 Impaired loans measured at fair value $ 19,478 $ 18,818 Other Real Estate Owned - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ - $ - Level 2: Significant Other Observable Inputs 122 226 Level 3: Significant Unobservable Inputs 117 133 Other real estate owned measured at fair value $ 239 $ 359 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 | 3 Months Ended |
Mar. 31, 2017 | |
Financial Instruments [Abstract] | |
Financial Instruments | Note 10. 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. Market 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. Impaired loans. Fair value of impaired loans is measured by either the fair value of the collateral if the loan is collateral dependent (Level 2 or Level 3), or the present value of expected future cash flows, discounted at the loan's effective interest rate (Level 3). Fair value of the collateral is determined by appraisals or by independent valuation. 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 March 31, 2017 and December 31, 2016 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 March 31, 2017 and December 31, 2016 are presented in the following table: March 31, 2017 December 31, 2016 (in thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Assets Cash and cash equivalents $ 18,093 $ 18,093 $ 18,111 $ 18,111 Securities, available for sale 425,994 425,994 397,473 397,473 Securities, held to maturity 98,847 97,100 101,863 99,906 Federal Home Loan Bank stock 1,819 1,819 1,816 1,816 Loans, net 982,792 981,824 937,807 937,495 Accrued interest receivable 6,954 6,954 7,039 7,039 Liabilities Deposits $ 1,402,268 $ 1,402,561 $ 1,326,181 $ 1,325,972 Borrowings 23,326 23,350 28,600 28,625 Junior subordinated debentures 14,638 14,119 14,630 13,909 Accrued interest payable 1,962 1,962 1,931 1,931 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. |
Merger Transaction
Merger Transaction | 3 Months Ended |
Mar. 31, 2017 | |
Merger Transaction [Abstract] | |
Merger Transaction | Note 11. Merger Transaction On January 30, 2017, First Guaranty entered into an Agreement and Plan of Merger (the "Merger Agreement") with Premier Bancshares, Inc., a Texas corporation ("Premier"), pursuant to which Premier will merge with and into First Guaranty (the "Merger"). Following the consummation of the Merger, and following the consummation of a merger of Premier's wholly-owned subsidiary, Premier Delaware Bancshares, Inc. ("Premier Delaware"), with and into First Guaranty, Synergy Bank, S.S.B., a Texas-state chartered savings bank and wholly-owned subsidiary of Premier Delaware ("Synergy Bank"), will merge with and into First Guaranty Bank, a Louisiana-state chartered commercial bank and wholly-owned subsidiary of First Guaranty, with First Guaranty Bank continuing as the surviving entity. The Merger Agreement was unanimously approved by the Board of Directors of each of First Guaranty and Premier. On May 10, 2017, the shareholders of Premier approved and adopted the Merger Agreement. The Merger is expected to close in the second or third quarter of 2017 following receipt of all remaining regulatory approvals . |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Basis of Presentation [Abstract] | |
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") 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, 2016. 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 March 31, 2017 and for the three months periods ended March 31, 2017 and 2016 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 particularly susceptible to significant change in the near-term relate to the determination of the allowance for loan losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, and the valuation of investment securities. |
Recent Accounting Pronounceme21
Recent Accounting Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | In February 2016, the FASB issued ASU 2016-02, "Conforming Amendments Related to Leases". This ASU amends the codification regarding leases in order to increase transparency and comparability. The ASU requires companies to recognize lease assets and liabilities on the statement of condition and disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. The ASU is effective for annual and interim periods beginning after December 15, 2018. The adoption of this ASU is not expected to have a material effect on First Guaranty's Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13, "Measurement of Credit Losses on Financial Instruments". This ASU amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. The ASU amendments require the measurement of all expected credit losses for financial assets held at the reporting date be based on historical experience, current conditions, and reasonable and supportable forecasts. The ASU requires assets held at cost basis to reflect the First Guaranty's current estimate of all expected credit losses. For available for sale debt securities, credit losses should be presented as an allowance rather than as a write-down. In addition, this ASU amends the accounting for purchased financial assets with credit deterioration. This ASU is effective for annual and interim periods beginning after December 15, 2019. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment". This ASU amends the guidance on impairment testing. The ASU eliminates Step 2 from the goodwill impairment test. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit should be considered when measuring the goodwill impairment loss, if applicable. The ASU also eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This ASU is effective for annual and interim periods beginning after December 15, 2019. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-01, "Business Combinations: Clarifying the Definition of a Business". This ASU clarifies the definition of a business. The amendments affect all companies and other reporting organizations that must determine whether they have acquired or sold a business. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. This ASU is intended to help companies and other organizations evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This ASU is effective for annual and interim periods beginning December 15, 2017. The adoption of this ASU is not expected to have a material effect on the Consolidated Financial Statements. In March 2017, the FASB issued ASU 2017-08, "Receivables - Nonrefundable Fees and Other Costs, Premium Amortization on Purchased Callable Debt Securities". This ASU shortens the amortization period for certain callable debt securities held at a premium. Specifically, this ASU requires the premium to be amortized to the earliest call date. This ASU does not require an accounting change for securities held at a discount, the discount continues to be amortized to maturity. This ASU is effective for annual and interim periods beginning after December 15, 2018. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Securities [Abstract] | |
Summary Comparison of Securities by Type | A summary comparison of securities by type at March 31, 2017 and December 31, 2016 is shown below. March 31, 2017 December 31, 2016 (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 $ 23,597 $ - $ - $ 23,597 $ 29,994 $ - $ - $ 29,994 U.S. Government Agencies 227,522 21 (4,421 ) 223,122 183,152 - (4,820 ) 178,332 Corporate debt securities 119,083 1,383 (1,572 ) 118,894 132,448 1,624 (2,100 ) 131,972 Mutual funds or other equity securities 500 - (7 ) 493 580 - (7 ) 573 Municipal bonds 27,306 103 (255 ) 27,154 28,177 100 (320 ) 27,957 Mortgage-backed securities 33,255 - (521 ) 32,734 29,181 - (536 ) 28,645 Total available-for-sale securities $ 431,263 $ 1,507 $ (6,776 ) $ 425,994 $ 403,532 $ 1,724 $ (7,783 ) $ 397,473 Held-to-maturity: U.S. Government Agencies $ 18,167 $ - $ (623 ) $ 17,544 $ 18,167 $ - $ (655 ) $ 17,512 Mortgage-backed securities 80,680 - (1,124 ) 79,556 83,696 - (1,302 ) 82,394 Total held-to-maturity securities $ 98,847 $ - $ (1,747 ) $ 97,100 $ 101,863 $ - $ (1,957 ) $ 99,906 |
Investments Classified by Contractual Maturity Date | The scheduled maturities of securities at March 31, 2017, 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. March 31, 2017 (in thousands) Amortized Cost Fair Value Available For Sale: Due in one year or less $ 32,686 $ 32,763 Due after one year through five years 80,432 80,821 Due after five years through 10 years 259,680 255,142 Over 10 years 25,210 24,534 Subtotal 398,008 393,260 Mortgage-backed Securities 33,255 32,734 Total available-for-sale securities $ 431,263 $ 425,994 Held to Maturity: Due in one year or less $ - $ - Due after one year through five years 4,998 4,955 Due after five years through 10 years 13,169 12,589 Over 10 years - - Subtotal 18,167 17,544 Mortgage-backed Securities 80,680 79,556 Total held to maturity securities $ 98,847 $ 97,100 |
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 March 31, 2017. At March 31, 2017 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 5 $ 23,597 $ - - $ - $ - 5 $ 23,597 $ - U.S. Government agencies 68 204,904 (4,421 ) - - - 68 204,904 (4,421 ) Corporate debt securities 156 51,438 (1,203 ) 22 5,953 (369 ) 178 57,391 (1,572 ) Mutual funds or other equity securities 1 493 (7 ) - - - 1 493 (7 ) Municipal bonds 12 9,901 (255 ) - - - 12 9,901 (255 ) Mortgage-backed securities 21 32,734 (521 ) - - - 21 32,734 (521 ) Total available-for-sale 263 $ 323,067 $ (6,407 ) 22 $ 5,953 $ (369 ) 285 $ 329,020 $ (6,776 ) Held to maturity: U.S. Government agencies 10 17,544 (623 ) - - - 10 17,544 (623 ) Mortgage-backed securities 46 76,979 (1,124 ) - - - 46 76,979 (1,124 ) Total held to maturity 56 $ 94,523 $ (1,747 ) - $ - $ - 56 $ 94,523 $ (1,747 ) 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, 2016. At December 31, 2016 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 3 $ 10,997 $ - - $ - $ - 3 $ 10,997 $ - U.S. Government agencies 54 178,331 (4,820 ) - - - 54 178,331 (4,820 ) Corporate debt securities 185 61,669 (1,613 ) 26 6,440 (487 ) 211 68,109 (2,100 ) Mutual funds or other equity securities 1 493 (7 ) - - - 1 493 (7 ) Municipal bonds 14 10,210 (320 ) - - - 14 10,210 (320 ) Mortgage-backed securities 16 28,645 (536 ) - - - 16 28,645 (536 ) Total available for sale 273 $ 290,345 $ (7,296 ) 26 $ 6,440 $ (487 ) 299 $ 296,785 $ (7,783 ) Held to maturity: U.S. Government agencies 10 $ 17,512 $ (655 ) - $ - $ - 10 $ 17,512 $ (655 ) Mortgage-backed securities 48 82,394 (1,302 ) - - - 48 82,394 (1,302 ) Total held to maturity 58 $ 99,906 $ (1,957 ) - $ - $ - 58 $ 99,906 $ (1,957 ) |
Credit Losses on Debt Securities for which Portion of OTTI Recognized in OCI | The following table presents a roll-forward of the amount of credit losses on debt securities held by First Guaranty for which a portion of OTTI was recognized in other comprehensive income for the quarters ended March 31, 2017 and 2016: (in thousands) Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Beginning balance of credit losses at end of prior year $ 60 $ 175 Other-than-temporary impairment credit losses on securities not previously OTTI - - Increases for additional credit losses on securities previously determined to be OTTI - - Reduction for increases in cash flows - - Reduction due to credit impaired securities sold or fully settled - - Ending balance of cumulative credit losses recognized in earnings at end of period $ 60 $ 175 |
Schedule of Exposure to Bond Issuers that Exceeded 10% of Stockholders' Equity | At March 31, 2017, First Guaranty's exposure to bond issuers that exceeded 10% of shareholders' equity is below: At March 31, 2017 (in thousands) Amortized Cost Fair Value U.S. Government Treasuries (U.S.) $ 23,597 $ 23,597 Federal Home Loan Bank (FHLB) 53,341 52,238 Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) 59,637 59,057 Federal National Mortgage Association (Fannie Mae-FNMA) 106,483 104,024 Federal Farm Credit Bank (FFCB) 140,163 137,637 Total $ 383,221 $ 376,553 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Loans [Abstract] | |
Summary of Components of Loan Portfolio | The following table summarizes the components of First Guaranty's loan portfolio as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 (in thousands except for %) Balance As % of Category Balance As % of Category Real Estate: Construction & land development $ 86,376 8.7 % $ 84,239 8.9 % Farmland 23,348 2.3 % 21,138 2.2 % 1- 4 Family 139,665 14.0 % 135,211 14.2 % Multifamily 12,440 1.3 % 12,450 1.3 % Non-farm non-residential 436,217 43.8 % 417,014 43.9 % Total Real Estate 698,046 70.1 % 670,052 70.5 % Non-Real Estate: Agricultural 23,178 2.3 % 23,783 2.5 % Commercial and industrial 206,158 20.7 % 193,969 20.4 % Consumer and other 69,090 6.9 % 63,011 6.6 % Total Non-Real Estate 298,426 29.9 % 280,763 29.5 % Total loans before unearned income 996,472 100.0 % 950,815 100.0 % Unearned income (2,033 ) (1,894 ) Total loans net of unearned income $ 994,439 $ 948,921 |
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 March 31, 2017 and December 31, 2016 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. March 31, 2017 December 31, 2016 (in thousands) Fixed Floating Total Fixed Floating Total One year or less $ 96,257 $ 58,391 $ 154,648 $ 97,713 $ 51,965 $ 149,678 More Than One to five years 375,962 209,099 585,061 352,000 206,676 558,676 More Than Five to 15 years 126,803 44,474 171,277 115,691 46,116 161,807 Over 15 years 58,076 6,431 64,507 53,150 5,830 58,980 Subtotal $ 657,098 $ 318,395 975,493 $ 618,554 $ 310,587 929,141 Nonaccrual loans 20,979 21,674 Total loans before unearned income 996,472 950,815 Unearned income (2,033 ) (1,894 ) Total loans net of unearned income $ 994,439 $ 948,921 |
Past Due Financing Receivables | The following tables present the age analysis of past due loans at March 31, 2017 and December 31, 2016: As of March 31, 2017 (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 $ 352 $ 399 $ 751 $ 85,625 $ 86,376 $ - Farmland 623 97 720 22,628 23,348 - 1 - 4 family 2,537 2,446 4,983 134,682 139,665 50 Multifamily - 5,058 5,058 7,382 12,440 - Non-farm non-residential 642 2,600 3,242 432,975 436,217 - Total Real Estate 4,154 10,600 14,754 683,292 698,046 50 Non-Real Estate: Agricultural 1,546 1,630 3,176 20,002 23,178 - Commercial and industrial 1,395 8,078 9,473 196,685 206,158 - Consumer and other 120 721 841 68,249 69,090 - Total Non-Real Estate 3,061 10,429 13,490 284,936 298,426 - Total loans before unearned income $ 7,215 $ 21,029 $ 28,244 $ 968,228 $ 996,472 $ 50 Unearned income (2,033 ) Total loans net of unearned income $ 994,439 As of December 31, 2016 (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 $ 173 $ 585 $ 758 $ 83,481 $ 84,239 $ 34 Farmland 234 105 339 20,799 21,138 - 1 - 4 family 1,108 2,387 3,495 131,716 135,211 145 Multifamily - 5,014 5,014 7,436 12,450 - Non-farm non-residential 1,618 2,753 4,371 412,643 417,014 - Total Real Estate 3,133 10,844 13,977 656,075 670,052 179 Non-Real Estate: Agricultural 64 1,958 2,022 21,761 23,783 - Commercial and industrial 552 8,070 8,622 185,347 193,969 - Consumer and other 182 981 1,163 61,848 63,011 - Total Non-Real Estate 798 11,009 11,807 268,956 280,763 - Total loans before unearned income $ 3,931 $ 21,853 $ 25,784 $ 925,031 $ 950,815 $ 179 Unearned income (1,894 ) Total loans net of unearned income $ 948,921 |
Summary of Nonaccrual Loans by Class | The following is a summary of nonaccrual loans by class at the dates indicated: (in thousands) As of March 31, 2017 As of December 31, 2016 Real Estate: Construction & land development $ 399 $ 551 Farmland 97 105 1 - 4 family 2,396 2,242 Multifamily 5,058 5,014 Non-farm non-residential 2,600 2,753 Total Real Estate 10,550 10,665 Non-Real Estate: Agricultural 1,630 1,958 Commercial and industrial 8,078 8,070 Consumer and other 721 981 Total Non-Real Estate 10,429 11,009 Total Nonaccrual Loans $ 20,979 $ 21,674 |
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 March 31, 2017 As of December 31, 2016 (in thousands) Pass Special Mention Substandard Doubtful Total Pass Special Mention Substandard Doubtful Total Real Estate: Construction & land development $ 81,495 $ 1,482 $ 3,399 $ - $ 86,376 $ 79,069 $ 1,162 $ 4,008 $ - $ 84,239 Farmland 22,686 565 97 - 23,348 20,652 381 105 - 21,138 1 - 4 family 127,583 5,220 6,862 - 139,665 123,191 5,460 6,560 - 135,211 Multifamily 4,237 1,109 7,094 - 12,440 4,268 1,132 7,050 - 12,450 Non-farm non-residential 413,390 5,342 17,485 - 436,217 392,355 6,406 18,253 - 417,014 Total Real Estate 649,391 13,718 34,937 - 698,046 619,535 14,541 35,976 - 670,052 Non-Real Estate: Agricultural 20,993 540 1,645 - 23,178 20,890 920 1,973 - 23,783 Commercial and industrial 192,019 3,408 3,001 7,730 206,158 182,381 850 3,008 7,730 193,969 Consumer and other 67,047 1,265 778 - 69,090 60,582 1,394 1,035 - 63,011 Total Non-Real Estate 280,059 5,213 5,424 7,730 298,426 263,853 3,164 6,016 7,730 280,763 Total loans before unearned income $ 929,450 $ 18,931 $ 40,361 $ 7,730 $ 996,472 $ 883,388 $ 17,705 $ 41,992 $ 7,730 $ 950,815 Unearned income (2,033 ) (1,894 ) Total loans net of unearned income $ 994,439 $ 948,921 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 three months ended March 31, 2017 and 2016 are as follows: For the Three Months Ended March 31, 2017 2016 (in thousands) Beginning Allowance (12/31/2016) Charge-offs Recoveries Provision Ending Allowance (3/31/2017) Beginning Allowance (12/31/2015) Charge-offs Recoveries Provision Ending Allowance (3/31/2016) Real Estate: Construction & land development $ 1,232 $ - $ 1 $ (92 ) $ 1,141 $ 962 $ - $ 1 $ 199 $ 1,162 Farmland 19 - - (13 ) 6 54 - - (33 ) 21 1 - 4 family 1,204 - 14 (154 ) 1,064 1,771 (59 ) 8 (528 ) 1,192 Multifamily 591 - 10 8 609 557 - 361 (606 ) 312 Non-farm non-residential 3,451 - 2 367 3,820 3,298 (641 ) - 399 3,056 Total real estate 6,497 - 27 116 6,640 6,642 (700 ) 370 (569 ) 5,743 Non-Real Estate: Agricultural 74 (33 ) 8 13 62 16 - - (7 ) 9 Commercial and industrial 3,543 (45 ) 5 625 4,128 2,527 (241 ) 4 1,049 3,339 Consumer and other 972 (206 ) 66 (15 ) 817 230 (332 ) 56 370 324 Unallocated 28 - - (28 ) - - - - - - Total Non-Real Estate 4,617 (284 ) 79 595 5,007 2,773 (573 ) 60 1,412 3,672 Total $ 11,114 $ (284 ) $ 106 $ 711 $ 11,647 $ 9,415 $ (1,273 ) $ 430 $ 843 $ 9,415 A summary of the allowance and loans individually and collectively evaluated for impairment are as follows: As of March 31, 2017 (in thousands) Allowance Individually Evaluated for Impairment Allowance Collectively Evaluated for Impairment Total Allowance for Credit Losses Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment Total Loans before Unearned Income Real Estate: Construction & land development $ - $ 1,141 $ 1,141 $ 358 $ 86,018 $ 86,376 Farmland - 6 6 - 23,348 23,348 1 - 4 family 2 1,062 1,064 1,116 138,549 139,665 Multifamily 208 401 609 5,058 7,382 12,440 Non-farm non-residential 858 2,962 3,820 11,225 424,992 436,217 Total Real Estate 1,068 5,572 6,640 17,757 680,289 698,046 Non-Real Estate: Agricultural 3 59 62 1,399 21,779 23,178 Commercial and industrial 2,369 1,759 4,128 9,192 196,966 206,158 Consumer and other - 817 817 686 68,404 69,090 Unallocated - - - - - - Total Non-Real Estate 2,372 2,635 5,007 11,277 287,149 298,426 Total $ 3,440 $ 8,207 $ 11,647 $ 29,034 $ 967,438 $ 996,472 Unearned Income (2,033 ) Total loans net of unearned income $ 994,439 As of December 31, 2016 (in thousands) Allowance Individually Evaluated For Impairment Allowance Collectively Evaluated for Impairment Total Allowance for Credit Losses Loans Individually Evaluated For Impairment Loans Collectively Evaluated for Impairment Total Loans before Unearned Income Real Estate: Construction & land development $ - $ 1,232 $ 1,232 $ 361 $ 83,878 $ 84,239 Farmland - 19 19 - 21,138 21,138 1 - 4 family 8 1,196 1,204 1,130 134,081 135,211 Multifamily 164 427 591 5,014 7,436 12,450 Non-farm non-residential 247 3,204 3,451 10,803 406,211 417,014 Total Real Estate 419 6,078 6,497 17,308 652,744 670,052 Non-Real Estate: Agricultural 11 63 74 1,614 22,169 23,783 Commercial and industrial 2,375 1,168 3,543 8,965 185,004 193,969 Consumer and other 193 779 972 924 62,087 63,011 Unallocated - 28 28 - - - Total Non-Real Estate 2,579 2,038 4,617 11,503 269,260 280,763 Total $ 2,998 $ 8,116 $ 11,114 $ 28,811 $ 922,004 $ 950,815 Unearned Income (1,894 ) Total loans net of unearned income $ 948,921 |
Summary of Impaired Loans by Class | The following is a summary of impaired loans by class as of the date indicated: As of March 31, 2017 (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 $ 358 $ 823 $ - $ 360 $ - $ - Farmland - - - - - - 1 - 4 family 856 1,195 - 914 12 9 Multifamily - - - - - - Non-farm non-residential 7,632 8,571 - 8,204 67 68 Total Real Estate 8,846 10,589 - 9,478 79 77 Non-Real Estate: Agricultural 1,121 1,415 - 1,239 - - Commercial and industrial 255 255 - 258 - - Consumer and other 686 686 - 686 - - Total Non-Real Estate 2,062 2,356 - 2,183 - - Total Impaired Loans with no related allowance 10,908 12,945 - 11,661 79 77 Impaired Loans with an allowance recorded: Real Estate: Construction & land development - - - - - - Farmland - - - - - - 1 - 4 family 260 299 2 264 - - Multifamily 5,058 5,414 208 5,001 - - Non-farm non-residential 3,593 3,593 858 3,593 45 37 Total Real Estate 8,911 9,306 1,068 8,858 45 37 Non-Real Estate: Agricultural 277 377 3 277 - - Commercial and industrial 8,938 9,099 2,369 8,947 17 17 Consumer and other - - - - - - Total Non-Real Estate 9,215 9,476 2,372 9,224 17 17 Total Impaired Loans with an allowance recorded 18,126 18,782 3,440 18,082 62 54 Total Impaired Loans $ 29,034 $ 31,727 $ 3,440 $ 29,743 $ 141 $ 131 The following is a summary of impaired loans by class as of the date indicated: As of December 31, 2016 (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 $ 361 $ 823 $ - $ 363 $ - $ - Farmland - - - - - - 1 - 4 family 863 1,196 - 1,044 49 48 Multifamily - - - - - - Non-farm non-residential 8,501 9,430 - 8,949 196 175 Total Real Estate 9,725 11,449 - 10,356 245 223 Non-Real Estate: Agricultural 1,603 1,742 - 1,377 30 - Commercial and industrial - - - - - - Consumer and other 686 685 - 724 18 12 Total Non-Real Estate 2,289 2,427 - 2,101 48 12 Total Impaired Loans with no related allowance 12,014 13,876 - 12,457 293 235 Impaired Loans with an allowance recorded: Real Estate: Construction & land development - - - - - - Farmland - - - - - - 1 - 4 family 267 303 8 279 - - Multifamily 5,014 5,305 164 5,169 - - Non-farm non-residential 2,302 2,296 247 2,334 119 113 Total Real Estate 7,583 7,904 419 7,782 119 113 Non-Real Estate: Agricultural 11 11 11 11 - - Commercial and industrial 8,965 9,117 2,375 9,379 72 72 Consumer and other 238 244 193 289 8 7 Total Non-Real Estate 9,214 9,372 2,579 9,679 80 79 Total Impaired Loans with an allowance recorded 16,797 17,276 2,998 17,461 199 192 Total Impaired Loans $ 28,811 $ 31,152 $ 2,998 $ 29,918 $ 492 $ 427 |
Troubled Debt Restructurings | The following table identifies the troubled debt restructurings as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 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 $ - $ - $ 358 $ 358 $ - $ - $ 361 $ 361 Farmland - - - - - - - - 1-4 Family - - - - - - - - Multifamily - - - - - - - - Non-farm non residential 2,138 - 100 2,238 2,987 - 100 3,087 Total Real Estate 2,138 - 458 2,596 2,987 - 461 3,448 Non-Real Estate: Agricultural - - - - - - - - Commercial and industrial - - - - - - - - Consumer and other - - - - - - - - Total Non-Real Estate - - - - - - - - Total $ 2,138 $ - $ 458 $ 2,596 $ 2,987 $ - $ 461 $ 3,448 The following table discloses TDR activity for the three months ended March 31, 2017. Troubled Debt Restructured Loans Activity Three Months Ended March 31, 2017 (in thousands) Beginning balance December 31, 2016 New TDRs Charge-offs post-modification Transferred to ORE Paydowns Construction to permanent financing Restructured to market terms Other adjustments Ending balance March 31, 2017 Real Estate: Construction & land development $ 361 $ - $ - $ - $ (3 ) $ - $ - $ - $ 358 Farmland - - - - - - - - - 1 - 4 family - - - - - - - - - Multifamily - - - - - - - - - Non-farm non-residential 3,087 - - - (849 ) - - - 2,238 Total Real Estate 3,448 - - - (852 ) - - - 2,596 Non-Real Estate: Agricultural - - - - - - - - - Commercial and industrial - - - - - - - - - Consumer and other - - - - - - - - - Total Non-Real Estate - - - - - - - - - Total $ 3,448 $ - $ - $ - $ (852 ) $ - $ - - $ 2,596 |
Other Real Estate (ORE) (Tables
Other Real Estate (ORE) (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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) March 31, 2017 December 31, 2016 Real Estate Owned Acquired by Foreclosure: Residential $ 43 $ 71 Construction & land development - - Non-farm non-residential 196 288 Total Other Real Estate Owned and Foreclosed Property $ 239 $ 359 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016: Contract Amount (in thousands) March 31, 2017 December 31, 2016 Commitments to Extend Credit $ 49,344 $ 56,910 Unfunded Commitments under lines of credit $ 117,740 $ 128,428 Commercial and Standby letters of credit $ 6,880 $ 6,602 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Measurements [Abstract] | |
Fair Value, Assets Measured on Recurring Basis | The following table summarizes financial assets measured at fair value on a recurring basis as of March 31, 2017 and December 31, 2016, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) March 31, 2017 December 31, 2016 Available for Sale Securities Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ 24,091 $ 30,487 Level 2: Significant Other Observable Inputs 383,293 347,586 Level 3: Significant Unobservable Inputs 18,610 19,400 Securities available for sale measured at fair value $ 425,994 $ 397,473 |
Fair Value Measurements, Nonrecurring | The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of March 31, 2017 and December 31, 2016, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) At March 31, 2017 At December 31, 2016 Impaired Loans - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ - $ - Level 2: Significant Other Observable Inputs 259 259 Level 3: Significant Unobservable Inputs 19,219 18,559 Impaired loans measured at fair value $ 19,478 $ 18,818 Other Real Estate Owned - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ - $ - Level 2: Significant Other Observable Inputs 122 226 Level 3: Significant Unobservable Inputs 117 133 Other real estate owned measured at fair value $ 239 $ 359 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016 are presented in the following table: March 31, 2017 December 31, 2016 (in thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Assets Cash and cash equivalents $ 18,093 $ 18,093 $ 18,111 $ 18,111 Securities, available for sale 425,994 425,994 397,473 397,473 Securities, held to maturity 98,847 97,100 101,863 99,906 Federal Home Loan Bank stock 1,819 1,819 1,816 1,816 Loans, net 982,792 981,824 937,807 937,495 Accrued interest receivable 6,954 6,954 7,039 7,039 Liabilities Deposits $ 1,402,268 $ 1,402,561 $ 1,326,181 $ 1,325,972 Borrowings 23,326 23,350 28,600 28,625 Junior subordinated debentures 14,638 14,119 14,630 13,909 Accrued interest payable 1,962 1,962 1,931 1,931 |
Securities, Summary Comparison
Securities, Summary Comparison of Securities by Type (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | $ 431,263 | $ 403,532 |
Gross unrealized gains | 1,507 | 1,724 |
Gross unrealized losses | (6,776) | (7,783) |
Fair value | 425,994 | 397,473 |
Held-to-maturity Securities [Abstract] | ||
Amortized cost | 98,847 | 101,863 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (1,747) | (1,957) |
Fair value | 97,100 | 99,906 |
U.S. Treasuries [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 23,597 | 29,994 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Fair value | 23,597 | 29,994 |
U.S. Government Agencies [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 227,522 | 183,152 |
Gross unrealized gains | 21 | 0 |
Gross unrealized losses | (4,421) | (4,820) |
Fair value | 223,122 | 178,332 |
Corporate Debt Securities [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 119,083 | 132,448 |
Gross unrealized gains | 1,383 | 1,624 |
Gross unrealized losses | (1,572) | (2,100) |
Fair value | 118,894 | 131,972 |
Mutual Funds or Other Equity Securities [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 500 | 580 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (7) | (7) |
Fair value | 493 | 573 |
Municipal Bonds [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 27,306 | 28,177 |
Gross unrealized gains | 103 | 100 |
Gross unrealized losses | (255) | (320) |
Fair value | 27,154 | 27,957 |
Mortgage-backed Securities [Member] | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 33,255 | 29,181 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (521) | (536) |
Fair value | 32,734 | 28,645 |
US Government Agencies [Member] | ||
Held-to-maturity Securities [Abstract] | ||
Amortized cost | 18,167 | 18,167 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (623) | (655) |
Fair value | 17,544 | 17,512 |
Mortgage-backed Securities [Member] | ||
Held-to-maturity Securities [Abstract] | ||
Amortized cost | 80,680 | 83,696 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (1,124) | (1,302) |
Fair value | $ 79,556 | $ 82,394 |
Securities, Scheduled Maturitie
Securities, Scheduled Maturities of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Available-for-sale Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Due in one year or less | $ 32,686 | |
Due after one year through five years | 80,432 | |
Due after five years through 10 years | 259,680 | |
Over 10 years | 25,210 | |
Subtotal | 398,008 | |
Mortgage-backed Securities | 33,255 | |
Amortized cost | 431,263 | |
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract] | ||
Due in one year or less | 32,763 | |
Due after one year through five years | 80,821 | |
Due after five years through 10 years | 255,142 | |
Over 10 years | 24,534 | |
Subtotal | 393,260 | |
Mortgage-backed Securities | 32,734 | |
Fair value | 425,994 | |
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Due in one year or less | 0 | |
Due after one year through five years | 4,998 | |
Due after five years through 10 years | 13,169 | |
Over 10 years | 0 | |
Subtotal | 18,167 | |
Mortgage-backed securities | 80,680 | |
Amortized cost | 98,847 | $ 101,863 |
Held-to-maturity Securities, Debt Maturities, Fair Value [Abstract] | ||
Due in one year or less | 0 | |
Due after one year through five years | 4,955 | |
Due after five years through 10 years | 12,589 | |
Over 10 years | 0 | |
Subtotal | 17,544 | |
Mortgage-backed securities | 79,556 | |
Fair value | $ 97,100 | $ 99,906 |
Securities, Pledged Securities
Securities, Pledged Securities (Details) $ in Millions | Mar. 31, 2017USD ($) |
Securities [Abstract] | |
Pledged securities as collateral for public fund deposits and borrowings | $ 399.9 |
Pledged securities, market value | $ 398.2 |
Securities, Summary of Securiti
Securities, Summary of Securities in Continuous Unrealized Loss Position (Details) $ in Thousands | Mar. 31, 2017USD ($)Security | Dec. 31, 2016USD ($)Security |
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 | 263 | 273 |
Less than 12 months, fair value | $ 323,067 | $ 290,345 |
Less than 12 months, gross unrealized losses | $ (6,407) | $ (7,296) |
12 months or more, number of securities | Security | 22 | 26 |
12 months or more, fair value | $ 5,953 | $ 6,440 |
12 months or more, gross unrealized losses | $ (369) | $ (487) |
Total, number of securities | Security | 285 | 299 |
Total, fair value | $ 329,020 | $ 296,785 |
Total, gross unrealized losses | $ (6,776) | $ (7,783) |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | Security | 56 | 58 |
Less than 12 months, fair value | $ 94,523 | $ 99,906 |
Less than 12 months, gross unrealized losses | $ (1,747) | $ (1,957) |
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 | 56 | 58 |
Total, fair value | $ 94,523 | $ 99,906 |
Total, gross unrealized losses | $ (1,747) | $ (1,957) |
Securities Disclosures [Abstract] | ||
Number of debt securities with unrealized losses | Security | 341 | |
Unrealized losses on debt securities in continuous loss position as percentage of total individual securities' amortized cost basis | 2.00% | |
Unrealized losses on debt securities in continuous loss position as percentage of amortized cost basis of investment securities portfolio | 1.60% | |
Number of debt securities in continuous loss position for over 12 months | Security | 22 | |
Debt securities in a continuous loss position for over 12 months, amortized cost basis | $ 6,300 | |
Debt securities in a continuous loss position for over 12 months, unrealized loss | $ 400 | |
U.S. Treasuries [Member] | ||
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 | 3 |
Less than 12 months, fair value | $ 23,597 | $ 10,997 |
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 | 5 | 3 |
Total, fair value | $ 23,597 | $ 10,997 |
Total, gross unrealized losses | $ 0 | $ 0 |
U.S. Government Agencies [Member] | ||
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 | 68 | 54 |
Less than 12 months, fair value | $ 204,904 | $ 178,331 |
Less than 12 months, gross unrealized losses | $ (4,421) | $ (4,820) |
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 | 68 | 54 |
Total, fair value | $ 204,904 | $ 178,331 |
Total, gross unrealized losses | $ (4,421) | $ (4,820) |
Corporate Debt Securities [Member] | ||
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 | 156 | 185 |
Less than 12 months, fair value | $ 51,438 | $ 61,669 |
Less than 12 months, gross unrealized losses | $ (1,203) | $ (1,613) |
12 months or more, number of securities | Security | 22 | 26 |
12 months or more, fair value | $ 5,953 | $ 6,440 |
12 months or more, gross unrealized losses | $ (369) | $ (487) |
Total, number of securities | Security | 178 | 211 |
Total, fair value | $ 57,391 | $ 68,109 |
Total, gross unrealized losses | $ (1,572) | $ (2,100) |
Mutual Funds or Other Equity Securities [Member] | ||
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 | 1 | 1 |
Less than 12 months, fair value | $ 493 | $ 493 |
Less than 12 months, gross unrealized losses | $ (7) | $ (7) |
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 | 1 | 1 |
Total, fair value | $ 493 | $ 493 |
Total, gross unrealized losses | $ (7) | $ (7) |
Municipal Bonds [Member] | ||
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 | 12 | 14 |
Less than 12 months, fair value | $ 9,901 | $ 10,210 |
Less than 12 months, gross unrealized losses | $ (255) | $ (320) |
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 | 12 | 14 |
Total, fair value | $ 9,901 | $ 10,210 |
Total, gross unrealized losses | $ (255) | $ (320) |
Mortgage-backed Securities [Member] | ||
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 | 21 | 16 |
Less than 12 months, fair value | $ 32,734 | $ 28,645 |
Less than 12 months, gross unrealized losses | $ (521) | $ (536) |
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 | 21 | 16 |
Total, fair value | $ 32,734 | $ 28,645 |
Total, gross unrealized losses | $ (521) | $ (536) |
US Government Agencies [Member] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | Security | 10 | 10 |
Less than 12 months, fair value | $ 17,544 | $ 17,512 |
Less than 12 months, gross unrealized losses | $ (623) | $ (655) |
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 | 10 | 10 |
Total, fair value | $ 17,544 | $ 17,512 |
Total, gross unrealized losses | $ (623) | $ (655) |
Mortgage-backed Securities [Member] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | Security | 46 | 48 |
Less than 12 months, fair value | $ 76,979 | $ 82,394 |
Less than 12 months, gross unrealized losses | $ (1,124) | $ (1,302) |
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 | 46 | 48 |
Total, fair value | $ 76,979 | $ 82,394 |
Total, gross unrealized losses | $ (1,124) | $ (1,302) |
Securities, Other Than Temporar
Securities, Other Than Temporary Impairments (Details) | 3 Months Ended | |
Mar. 31, 2017USD ($)Issuer | Mar. 31, 2016USD ($) | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||
Other than temporary impairment losses | $ 0 | $ 0 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Beginning balance of credit losses at end of prior year | 60,000 | 175,000 |
Other-than-temporary impairment credit losses on securities not previously OTTI | 0 | 0 |
Increases for additional credit losses on securities previously determined to be OTTI | 0 | 0 |
Reduction for increases in cash flows | 0 | 0 |
Reduction due to credit impaired securities sold or fully settled | 0 | 0 |
Ending balance of cumulative credit losses recognized in earnings at end of period | $ 60,000 | $ 175,000 |
Available-for-sale Securities [Member] | Corporate Debt Securities [Member] | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||
Number of issuers having other-than-temporary impairment losses | Issuer | 2 |
Securities, Exposure to Bond Is
Securities, Exposure to Bond Issuers that Exceeded 10% of Stockholders' Equity (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | $ 524,841 | $ 499,336 |
Stockholders' Equity, Total [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 383,221 | |
Fair value | 376,553 | |
Stockholders' Equity, Total [Member] | U.S. Government Treasuries (U.S.) [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 23,597 | |
Fair value | 23,597 | |
Stockholders' Equity, Total [Member] | Federal Home Loan Bank (FHLB) [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 53,341 | |
Fair value | 52,238 | |
Stockholders' Equity, Total [Member] | Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 59,637 | |
Fair value | 59,057 | |
Stockholders' Equity, Total [Member] | Federal National Mortgage Association (Fannie Mae-FNMA) [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 106,483 | |
Fair value | 104,024 | |
Stockholders' Equity, Total [Member] | Federal Farm Credit Bank (FFCB) [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 140,163 | |
Fair value | $ 137,637 |
Loans, Components of Loan Portf
Loans, Components of Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 996,472 | $ 950,815 |
Percent of category | 100.00% | 100.00% |
Unearned income | $ (2,033) | $ (1,894) |
Total loans net of unearned income | 994,439 | 948,921 |
Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 698,046 | $ 670,052 |
Percent of category | 70.10% | 70.50% |
Real Estate [Member] | Construction & Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 86,376 | $ 84,239 |
Percent of category | 8.70% | 8.90% |
Real Estate [Member] | Farmland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 23,348 | $ 21,138 |
Percent of category | 2.30% | 2.20% |
Real Estate [Member] | 1- 4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 139,665 | $ 135,211 |
Percent of category | 14.00% | 14.20% |
Real Estate [Member] | Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 12,440 | $ 12,450 |
Percent of category | 1.30% | 1.30% |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 436,217 | $ 417,014 |
Percent of category | 43.80% | 43.90% |
Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 298,426 | $ 280,763 |
Percent of category | 29.90% | 29.50% |
Non-Real Estate [Member] | Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 23,178 | $ 23,783 |
Percent of category | 2.30% | 2.50% |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 206,158 | $ 193,969 |
Percent of category | 20.70% | 20.40% |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before unearned income | $ 69,090 | $ 63,011 |
Percent of category | 6.90% | 6.60% |
Loans, Fixed and Floating Rate
Loans, Fixed and Floating Rate Loans by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivables, Fixed and Floating Rate Loans by Contractual Maturity [Abstract] | ||
One year or less | $ 154,648 | $ 149,678 |
More than one to five years | 585,061 | 558,676 |
More than five to 15 years | 171,277 | 161,807 |
Over 15 years | 64,507 | 58,980 |
Subtotal | 975,493 | 929,141 |
Nonaccrual loans | 20,979 | 21,674 |
Total loans before unearned income | 996,472 | 950,815 |
Unearned income | (2,033) | (1,894) |
Total loans net of unearned income | 994,439 | 948,921 |
Fixed Rate Loans [Member] | ||
Financing Receivables, Fixed and Floating Rate Loans by Contractual Maturity [Abstract] | ||
One year or less | 96,257 | 97,713 |
More than one to five years | 375,962 | 352,000 |
More than five to 15 years | 126,803 | 115,691 |
Over 15 years | 58,076 | 53,150 |
Subtotal | 657,098 | 618,554 |
Floating Rate Loans [Member] | ||
Financing Receivables, Fixed and Floating Rate Loans by Contractual Maturity [Abstract] | ||
One year or less | 58,391 | 51,965 |
More than one to five years | 209,099 | 206,676 |
More than five to 15 years | 44,474 | 46,116 |
Over 15 years | 6,431 | 5,830 |
Subtotal | 318,395 | 310,587 |
Loans at interest rate floor | $ 100,900 | $ 127,700 |
Loans, Receivables Past Due (De
Loans, Receivables Past Due (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | $ 28,244 | $ 25,784 |
Current | 968,228 | 925,031 |
Total loans before unearned income | 996,472 | 950,815 |
Recorded investment 90 days accruing | 50 | 179 |
Unearned income | (2,033) | (1,894) |
Total loans net of unearned income | 994,439 | 948,921 |
30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 7,215 | 3,931 |
90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 21,029 | 21,853 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 14,754 | 13,977 |
Current | 683,292 | 656,075 |
Total loans before unearned income | 698,046 | 670,052 |
Recorded investment 90 days accruing | 50 | 179 |
Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 4,154 | 3,133 |
Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 10,600 | 10,844 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 751 | 758 |
Current | 85,625 | 83,481 |
Total loans before unearned income | 86,376 | 84,239 |
Recorded investment 90 days accruing | 0 | 34 |
Real Estate [Member] | Construction & Land Development [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 352 | 173 |
Real Estate [Member] | Construction & Land Development [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 399 | 585 |
Real Estate [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 720 | 339 |
Current | 22,628 | 20,799 |
Total loans before unearned income | 23,348 | 21,138 |
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 | 623 | 234 |
Real Estate [Member] | Farmland [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 97 | 105 |
Real Estate [Member] | 1- 4 Family [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 4,983 | 3,495 |
Current | 134,682 | 131,716 |
Total loans before unearned income | 139,665 | 135,211 |
Recorded investment 90 days accruing | 50 | 145 |
Real Estate [Member] | 1- 4 Family [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 2,537 | 1,108 |
Real Estate [Member] | 1- 4 Family [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 2,446 | 2,387 |
Real Estate [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 5,058 | 5,014 |
Current | 7,382 | 7,436 |
Total loans before unearned income | 12,440 | 12,450 |
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 | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 5,058 | 5,014 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 3,242 | 4,371 |
Current | 432,975 | 412,643 |
Total loans before unearned income | 436,217 | 417,014 |
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 | 642 | 1,618 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 2,600 | 2,753 |
Non-Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 13,490 | 11,807 |
Current | 284,936 | 268,956 |
Total loans before unearned income | 298,426 | 280,763 |
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 | 3,061 | 798 |
Non-Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 10,429 | 11,009 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 3,176 | 2,022 |
Current | 20,002 | 21,761 |
Total loans before unearned income | 23,178 | 23,783 |
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 | 1,546 | 64 |
Non-Real Estate [Member] | Agricultural [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 1,630 | 1,958 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 9,473 | 8,622 |
Current | 196,685 | 185,347 |
Total loans before unearned income | 206,158 | 193,969 |
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 | 1,395 | 552 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 8,078 | 8,070 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | 841 | 1,163 |
Current | 68,249 | 61,848 |
Total loans before unearned income | 69,090 | 63,011 |
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 | 120 | 182 |
Non-Real Estate [Member] | Consumer and Other [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due | $ 721 | $ 981 |
Loans, Nonaccrual Loans (Detail
Loans, Nonaccrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 20,979 | $ 21,674 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 10,550 | 10,665 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 399 | 551 |
Real Estate [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 97 | 105 |
Real Estate [Member] | 1- 4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 2,396 | 2,242 |
Real Estate [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 5,058 | 5,014 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 2,600 | 2,753 |
Non-Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 10,429 | 11,009 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 1,630 | 1,958 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 8,078 | 8,070 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 721 | $ 981 |
Loans, Credit Exposure of Portf
Loans, Credit Exposure of Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | $ 996,472 | $ 950,815 |
Unearned income | (2,033) | (1,894) |
Total loans net of unearned income | 994,439 | 948,921 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 929,450 | 883,388 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 18,931 | 17,705 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 40,361 | 41,992 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 7,730 | 7,730 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 698,046 | 670,052 |
Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 649,391 | 619,535 |
Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 13,718 | 14,541 |
Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 34,937 | 35,976 |
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 | 86,376 | 84,239 |
Real Estate [Member] | Construction & Land Development [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 81,495 | 79,069 |
Real Estate [Member] | Construction & Land Development [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 1,482 | 1,162 |
Real Estate [Member] | Construction & Land Development [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 3,399 | 4,008 |
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 | 23,348 | 21,138 |
Real Estate [Member] | Farmland [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 22,686 | 20,652 |
Real Estate [Member] | Farmland [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 565 | 381 |
Real Estate [Member] | Farmland [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 97 | 105 |
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 | 139,665 | 135,211 |
Real Estate [Member] | 1- 4 Family [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 127,583 | 123,191 |
Real Estate [Member] | 1- 4 Family [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 5,220 | 5,460 |
Real Estate [Member] | 1- 4 Family [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 6,862 | 6,560 |
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 | 12,440 | 12,450 |
Real Estate [Member] | Multifamily [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 4,237 | 4,268 |
Real Estate [Member] | Multifamily [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 1,109 | 1,132 |
Real Estate [Member] | Multifamily [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 7,094 | 7,050 |
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 | 436,217 | 417,014 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 413,390 | 392,355 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 5,342 | 6,406 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 17,485 | 18,253 |
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 | 298,426 | 280,763 |
Non-Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 280,059 | 263,853 |
Non-Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 5,213 | 3,164 |
Non-Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 5,424 | 6,016 |
Non-Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 7,730 | 7,730 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 23,178 | 23,783 |
Non-Real Estate [Member] | Agricultural [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 20,993 | 20,890 |
Non-Real Estate [Member] | Agricultural [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 540 | 920 |
Non-Real Estate [Member] | Agricultural [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 1,645 | 1,973 |
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 | 206,158 | 193,969 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 192,019 | 182,381 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 3,408 | 850 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 3,001 | 3,008 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 7,730 | 7,730 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 69,090 | 63,011 |
Non-Real Estate [Member] | Consumer and Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 67,047 | 60,582 |
Non-Real Estate [Member] | Consumer and Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 1,265 | 1,394 |
Non-Real Estate [Member] | Consumer and Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 778 | 1,035 |
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 | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | $ 11,114 | $ 9,415 |
Charge-offs | (284) | (1,273) |
Recoveries | 106 | 430 |
Provision | 711 | 843 |
Ending allowance | 11,647 | 9,415 |
Real Estate [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 6,497 | 6,642 |
Charge-offs | 0 | (700) |
Recoveries | 27 | 370 |
Provision | 116 | (569) |
Ending allowance | 6,640 | 5,743 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 1,232 | 962 |
Charge-offs | 0 | 0 |
Recoveries | 1 | 1 |
Provision | (92) | 199 |
Ending allowance | 1,141 | 1,162 |
Real Estate [Member] | Farmland [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 19 | 54 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | (13) | (33) |
Ending allowance | 6 | 21 |
Real Estate [Member] | 1- 4 Family [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 1,204 | 1,771 |
Charge-offs | 0 | (59) |
Recoveries | 14 | 8 |
Provision | (154) | (528) |
Ending allowance | 1,064 | 1,192 |
Real Estate [Member] | Multifamily [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 591 | 557 |
Charge-offs | 0 | 0 |
Recoveries | 10 | 361 |
Provision | 8 | (606) |
Ending allowance | 609 | 312 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 3,451 | 3,298 |
Charge-offs | 0 | (641) |
Recoveries | 2 | 0 |
Provision | 367 | 399 |
Ending allowance | 3,820 | 3,056 |
Non-Real Estate [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 4,617 | 2,773 |
Charge-offs | (284) | (573) |
Recoveries | 79 | 60 |
Provision | 595 | 1,412 |
Ending allowance | 5,007 | 3,672 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 74 | 16 |
Charge-offs | (33) | 0 |
Recoveries | 8 | 0 |
Provision | 13 | (7) |
Ending allowance | 62 | 9 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 3,543 | 2,527 |
Charge-offs | (45) | (241) |
Recoveries | 5 | 4 |
Provision | 625 | 1,049 |
Ending allowance | 4,128 | 3,339 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 972 | 230 |
Charge-offs | (206) | (332) |
Recoveries | 66 | 56 |
Provision | (15) | 370 |
Ending allowance | 817 | 324 |
Non-Real Estate [Member] | Unallocated [Member] | ||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | ||
Beginning allowance | 28 | 0 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | (28) | 0 |
Ending allowance | $ 0 | $ 0 |
Allowance for Loan Losses, Su41
Allowance for Loan Losses, Summary of Allowance and Loans Individually and Collectively Evaluated for Impairment (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | $ 3,440 | $ 2,998 | ||
Allowance collectively evaluated for impairment | 8,207 | 8,116 | ||
Total allowance for credit losses | 11,647 | 11,114 | $ 9,415 | $ 9,415 |
Loans individually evaluated for impairment | 29,034 | 28,811 | ||
Loans collectively evaluated for impairment | 967,438 | 922,004 | ||
Total loans before unearned income | 996,472 | 950,815 | ||
Unearned income | (2,033) | (1,894) | ||
Total loans net of unearned income | 994,439 | 948,921 | ||
Real Estate [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 1,068 | 419 | ||
Allowance collectively evaluated for impairment | 5,572 | 6,078 | ||
Total allowance for credit losses | 6,640 | 6,497 | 5,743 | 6,642 |
Loans individually evaluated for impairment | 17,757 | 17,308 | ||
Loans collectively evaluated for impairment | 680,289 | 652,744 | ||
Total loans before unearned income | 698,046 | 670,052 | ||
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 | 0 | ||
Allowance collectively evaluated for impairment | 1,141 | 1,232 | ||
Total allowance for credit losses | 1,141 | 1,232 | 1,162 | 962 |
Loans individually evaluated for impairment | 358 | 361 | ||
Loans collectively evaluated for impairment | 86,018 | 83,878 | ||
Total loans before unearned income | 86,376 | 84,239 | ||
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 | 6 | 19 | ||
Total allowance for credit losses | 6 | 19 | 21 | 54 |
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 23,348 | 21,138 | ||
Total loans before unearned income | 23,348 | 21,138 | ||
Real Estate [Member] | 1- 4 Family [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 2 | 8 | ||
Allowance collectively evaluated for impairment | 1,062 | 1,196 | ||
Total allowance for credit losses | 1,064 | 1,204 | 1,192 | 1,771 |
Loans individually evaluated for impairment | 1,116 | 1,130 | ||
Loans collectively evaluated for impairment | 138,549 | 134,081 | ||
Total loans before unearned income | 139,665 | 135,211 | ||
Real Estate [Member] | Multifamily [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 208 | 164 | ||
Allowance collectively evaluated for impairment | 401 | 427 | ||
Total allowance for credit losses | 609 | 591 | 312 | 557 |
Loans individually evaluated for impairment | 5,058 | 5,014 | ||
Loans collectively evaluated for impairment | 7,382 | 7,436 | ||
Total loans before unearned income | 12,440 | 12,450 | ||
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 | 858 | 247 | ||
Allowance collectively evaluated for impairment | 2,962 | 3,204 | ||
Total allowance for credit losses | 3,820 | 3,451 | 3,056 | 3,298 |
Loans individually evaluated for impairment | 11,225 | 10,803 | ||
Loans collectively evaluated for impairment | 424,992 | 406,211 | ||
Total loans before unearned income | 436,217 | 417,014 | ||
Non-Real Estate [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 2,372 | 2,579 | ||
Allowance collectively evaluated for impairment | 2,635 | 2,038 | ||
Total allowance for credit losses | 5,007 | 4,617 | 3,672 | 2,773 |
Loans individually evaluated for impairment | 11,277 | 11,503 | ||
Loans collectively evaluated for impairment | 287,149 | 269,260 | ||
Total loans before unearned income | 298,426 | 280,763 | ||
Non-Real Estate [Member] | Agricultural [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 3 | 11 | ||
Allowance collectively evaluated for impairment | 59 | 63 | ||
Total allowance for credit losses | 62 | 74 | 9 | 16 |
Loans individually evaluated for impairment | 1,399 | 1,614 | ||
Loans collectively evaluated for impairment | 21,779 | 22,169 | ||
Total loans before unearned income | 23,178 | 23,783 | ||
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 | 2,369 | 2,375 | ||
Allowance collectively evaluated for impairment | 1,759 | 1,168 | ||
Total allowance for credit losses | 4,128 | 3,543 | 3,339 | 2,527 |
Loans individually evaluated for impairment | 9,192 | 8,965 | ||
Loans collectively evaluated for impairment | 196,966 | 185,004 | ||
Total loans before unearned income | 206,158 | 193,969 | ||
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 | 0 | 193 | ||
Allowance collectively evaluated for impairment | 817 | 779 | ||
Total allowance for credit losses | 817 | 972 | 324 | 230 |
Loans individually evaluated for impairment | 686 | 924 | ||
Loans collectively evaluated for impairment | 68,404 | 62,087 | ||
Total loans before unearned income | 69,090 | 63,011 | ||
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 | 0 | 28 | ||
Total allowance for credit losses | 0 | 28 | $ 0 | $ 0 |
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | $ 10,908 | $ 12,014 |
Unpaid principal balance | 12,945 | 13,876 |
Average recorded investment | 11,661 | 12,457 |
Interest income recognized | 79 | 293 |
Interest income cash basis | 77 | 235 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 18,126 | 16,797 |
Unpaid principal balance | 18,782 | 17,276 |
Related allowance | 3,440 | 2,998 |
Average recorded investment | 18,082 | 17,461 |
Interest income recognized | 62 | 199 |
Interest income cash basis | 54 | 192 |
Total impaired loans [Abstract] | ||
Recorded investment | 29,034 | 28,811 |
Unpaid principal balance | 31,727 | 31,152 |
Related allowance | 3,440 | 2,998 |
Average recorded investment | 29,743 | 29,918 |
Interest income recognized | 141 | 492 |
Interest income cash basis | 131 | 427 |
Real Estate [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 8,846 | 9,725 |
Unpaid principal balance | 10,589 | 11,449 |
Average recorded investment | 9,478 | 10,356 |
Interest income recognized | 79 | 245 |
Interest income cash basis | 77 | 223 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 8,911 | 7,583 |
Unpaid principal balance | 9,306 | 7,904 |
Related allowance | 1,068 | 419 |
Average recorded investment | 8,858 | 7,782 |
Interest income recognized | 45 | 119 |
Interest income cash basis | 37 | 113 |
Total impaired loans [Abstract] | ||
Related allowance | 1,068 | 419 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 358 | 361 |
Unpaid principal balance | 823 | 823 |
Average recorded investment | 360 | 363 |
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] | 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 | 856 | 863 |
Unpaid principal balance | 1,195 | 1,196 |
Average recorded investment | 914 | 1,044 |
Interest income recognized | 12 | 49 |
Interest income cash basis | 9 | 48 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 260 | 267 |
Unpaid principal balance | 299 | 303 |
Related allowance | 2 | 8 |
Average recorded investment | 264 | 279 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 2 | 8 |
Real Estate [Member] | Multifamily [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 | 5,058 | 5,014 |
Unpaid principal balance | 5,414 | 5,305 |
Related allowance | 208 | 164 |
Average recorded investment | 5,001 | 5,169 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 208 | 164 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 7,632 | 8,501 |
Unpaid principal balance | 8,571 | 9,430 |
Average recorded investment | 8,204 | 8,949 |
Interest income recognized | 67 | 196 |
Interest income cash basis | 68 | 175 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 3,593 | 2,302 |
Unpaid principal balance | 3,593 | 2,296 |
Related allowance | 858 | 247 |
Average recorded investment | 3,593 | 2,334 |
Interest income recognized | 45 | 119 |
Interest income cash basis | 37 | 113 |
Total impaired loans [Abstract] | ||
Related allowance | 858 | 247 |
Non-Real Estate [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 2,062 | 2,289 |
Unpaid principal balance | 2,356 | 2,427 |
Average recorded investment | 2,183 | 2,101 |
Interest income recognized | 0 | 48 |
Interest income cash basis | 0 | 12 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 9,215 | 9,214 |
Unpaid principal balance | 9,476 | 9,372 |
Related allowance | 2,372 | 2,579 |
Average recorded investment | 9,224 | 9,679 |
Interest income recognized | 17 | 80 |
Interest income cash basis | 17 | 79 |
Total impaired loans [Abstract] | ||
Related allowance | 2,372 | 2,579 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 1,121 | 1,603 |
Unpaid principal balance | 1,415 | 1,742 |
Average recorded investment | 1,239 | 1,377 |
Interest income recognized | 0 | 30 |
Interest income cash basis | 0 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 277 | 11 |
Unpaid principal balance | 377 | 11 |
Related allowance | 3 | 11 |
Average recorded investment | 277 | 11 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 3 | 11 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 255 | 0 |
Unpaid principal balance | 255 | 0 |
Average recorded investment | 258 | 0 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 8,938 | 8,965 |
Unpaid principal balance | 9,099 | 9,117 |
Related allowance | 2,369 | 2,375 |
Average recorded investment | 8,947 | 9,379 |
Interest income recognized | 17 | 72 |
Interest income cash basis | 17 | 72 |
Total impaired loans [Abstract] | ||
Related allowance | 2,369 | 2,375 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 686 | 686 |
Unpaid principal balance | 686 | 685 |
Average recorded investment | 686 | 724 |
Interest income recognized | 0 | 18 |
Interest income cash basis | 0 | 12 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 0 | 238 |
Unpaid principal balance | 0 | 244 |
Related allowance | 0 | 193 |
Average recorded investment | 0 | 289 |
Interest income recognized | 0 | 8 |
Interest income cash basis | 0 | 7 |
Total impaired loans [Abstract] | ||
Related allowance | $ 0 | $ 193 |
Allowance for Loan Losses, Trou
Allowance for Loan Losses, Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | $ 2,596 | $ 3,448 |
Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 458 | 461 |
Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 2,138 | 2,987 |
30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 2,596 | 3,448 |
Real Estate [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 458 | 461 |
Real Estate [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 2,138 | 2,987 |
Real Estate [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 358 | 361 |
Real Estate [Member] | Construction & Land Development [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 358 | 361 |
Real Estate [Member] | Construction & Land Development [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Construction & Land Development [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Farmland [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Farmland [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Farmland [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | 1- 4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | 1- 4 Family [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | 1- 4 Family [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | 1- 4 Family [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 2,238 | 3,087 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 100 | 100 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 2,138 | 2,987 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | $ 0 | $ 0 |
Allowance for Loan Losses, TDR
Allowance for Loan Losses, TDR Activity (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($) | |
TDR activity [Roll Forward] | |
Beginning balance | $ 3,448 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | (852) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 2,596 |
Real Estate [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 3,448 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | (852) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 2,596 |
Real Estate [Member] | Construction & Land Development [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 361 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | (3) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 358 |
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 |
Other adjustments | 0 |
Ending balance | 0 |
Real Estate [Member] | 1- 4 Family [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 |
Other adjustments | 0 |
Ending balance | 0 |
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 |
Other adjustments | 0 |
Ending balance | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 3,087 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | (849) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 2,238 |
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 |
Other adjustments | 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 |
Other adjustments | 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 |
Other adjustments | 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 |
Other adjustments | 0 |
Ending balance | $ 0 |
Goodwill and Other Intangible45
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill | $ 1,999 | $ 1,999 |
Impairment charges recognized on the Company's intangible assets | 0 | |
Decrease in mortgage servicing rights | (2) | |
Mortgage servicing rights | $ 76 | |
Core Deposits [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-average remaining amortization period | 3 years 4 months 24 days |
Other Real Estate (ORE) (Detail
Other Real Estate (ORE) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Real Estate Owned Acquired by Foreclosure [Abstract] | ||
Residential | $ 43 | $ 71 |
Construction & land development | 0 | 0 |
Non-farm non-residential | 196 | 288 |
Total Other Real Estate Owned and Foreclosed Property | 239 | $ 359 |
Loans secured by one to four family residential properties in the process of foreclosure | $ 700 |
Commitments and Contingencies47
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Notional value | $ 49,344 | $ 56,910 |
Unfunded Commitments under Lines of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Notional value | 117,740 | 128,428 |
Commercial and Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Notional value | $ 6,880 | $ 6,602 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | $ 425,994 | $ 397,473 |
Level 1: Quoted Prices in Active Markets For Identical Assets [Member] | Treasury Bills [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Net decrease in available for sale securities | (6,400) | |
Recurring Basis [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 425,994 | 397,473 |
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 | 24,091 | 30,487 |
Recurring Basis [Member] | Level 2: Significant Other Observable Inputs [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 383,293 | 347,586 |
Recurring Basis [Member] | Level 3: Significant Unobservable Inputs [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 18,610 | 19,400 |
Non-Recurring Basis [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Impaired loans measured at fair value | 19,478 | 18,818 |
Other real estate owned measured at fair value | 239 | 359 |
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 | 259 | 259 |
Other real estate owned measured at fair value | 122 | 226 |
Non-Recurring Basis [Member] | Level 3: Significant Unobservable Inputs [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Impaired loans measured at fair value | 19,219 | 18,559 |
Other real estate owned measured at fair value | $ 117 | $ 133 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets [Abstract] | ||
Securities available for sale measured at fair value | $ 425,994 | $ 397,473 |
Securities, held to maturity | 97,100 | 99,906 |
Accrued interest receivable | 6,954 | 7,039 |
Carrying Value [Member] | ||
Assets [Abstract] | ||
Cash and cash equivalents | 18,093 | 18,111 |
Securities available for sale measured at fair value | 425,994 | 397,473 |
Securities, held to maturity | 98,847 | 101,863 |
Federal Home Loan Bank stock | 1,819 | 1,816 |
Loans, net | 982,792 | 937,807 |
Accrued interest receivable | 6,954 | 7,039 |
Liabilities [Abstract] | ||
Deposits | 1,402,268 | 1,326,181 |
Borrowings | 23,326 | 28,600 |
Junior subordinated debentures | 14,638 | 14,630 |
Accrued interest payable | 1,962 | 1,931 |
Estimated Fair Value [Member] | ||
Assets [Abstract] | ||
Cash and cash equivalents | 18,093 | 18,111 |
Securities available for sale measured at fair value | 425,994 | 397,473 |
Securities, held to maturity | 97,100 | 99,906 |
Federal Home Loan Bank stock | 1,819 | 1,816 |
Loans, net | 981,824 | 937,495 |
Accrued interest receivable | 6,954 | 7,039 |
Liabilities [Abstract] | ||
Deposits | 1,402,561 | 1,325,972 |
Borrowings | 23,350 | 28,625 |
Junior subordinated debentures | 14,119 | 13,909 |
Accrued interest payable | $ 1,962 | $ 1,931 |