Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 08, 2019 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | First Guaranty Bancshares, Inc. | |
Entity Central Index Key | 0001408534 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Common Stock, Shares Outstanding | 8,807,175 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2019 |
CONSOLIDATED BALANCE SHEETS (un
CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 165,735 | $ 127,416 |
Federal funds sold | 416 | 549 |
Cash and cash equivalents | 166,151 | 127,965 |
Investment securities: | ||
Available for sale, at fair value | 268,918 | 296,977 |
Held to maturity, at cost (estimated fair value of $104,126 and $104,840 respectively) | 105,878 | 108,326 |
Investment securities | 374,796 | 405,303 |
Federal Home Loan Bank stock, at cost | 2,407 | 2,393 |
Loans held for sale | 537 | 344 |
Loans, net of unearned income | 1,298,156 | 1,225,268 |
Less: allowance for loan losses | 11,001 | 10,776 |
Net loans | 1,287,155 | 1,214,492 |
Premises and equipment, net | 41,728 | 39,695 |
Goodwill | 3,472 | 3,472 |
Intangible assets, net | 3,375 | 3,528 |
Other real estate, net | 1,120 | 1,138 |
Accrued interest receivable | 7,707 | 6,716 |
Other assets | 19,043 | 12,165 |
Total Assets | 1,907,491 | 1,817,211 |
Deposits: | ||
Noninterest-bearing demand | 252,205 | 244,516 |
Interest-bearing demand | 608,256 | 594,359 |
Savings | 112,238 | 109,958 |
Time | 738,450 | 680,789 |
Total deposits | 1,711,149 | 1,629,622 |
Short-term borrowings | 0 | 0 |
Accrued interest payable | 4,975 | 3,952 |
Senior long-term debt | 19,105 | 19,838 |
Junior subordinated debentures | 14,709 | 14,700 |
Other liabilities | 2,971 | 1,815 |
Total Liabilities | 1,752,909 | 1,669,927 |
Common stock: | ||
$1 par value - authorized 100,600,000 shares; issued 8,807,175 shares | 8,807 | 8,807 |
Surplus | 92,268 | 92,268 |
Retained earnings | 55,070 | 53,347 |
Accumulated other comprehensive income (loss) | (1,563) | (7,138) |
Total Shareholders' Equity | 154,582 | 147,284 |
Total Liabilities and Shareholders' Equity | $ 1,907,491 | $ 1,817,211 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Marketable Securities [Abstract] | ||
Held to maturity, estimated fair value | $ 104,126 | $ 104,840 |
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) | 8,807,175 | 8,807,175 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Interest Income: | ||
Loans (including fees) | $ 18,482 | $ 14,864 |
Deposits with other banks | 636 | 85 |
Securities (including FHLB stock) | 2,857 | 3,353 |
Federal funds sold | 0 | 1 |
Total Interest Income | 21,975 | 18,303 |
Interest Expense: | ||
Demand deposits | 2,811 | 1,976 |
Savings deposits | 138 | 82 |
Time deposits | 4,007 | 2,085 |
Borrowings | 426 | 405 |
Total Interest Expense | 7,382 | 4,548 |
Net Interest Income | 14,593 | 13,755 |
Less: Provision for loan losses | 787 | 605 |
Net Interest Income after Provision for Loan Losses | 13,806 | 13,150 |
Noninterest Income: | ||
Service charges, commissions and fees | 608 | 717 |
ATM and debit card fees | 528 | 501 |
Net (losses) gains on securities | (402) | 10 |
Net gains on sale of loans | 11 | 2 |
Other | 556 | 348 |
Total Noninterest Income | 1,301 | 1,578 |
Noninterest Expense: | ||
Salaries and employee benefits | 5,962 | 5,582 |
Occupancy and equipment expense | 1,485 | 1,341 |
Other | 3,721 | 3,284 |
Total Noninterest Expense | 11,168 | 10,207 |
Income Before Income Taxes | 3,939 | 4,521 |
Less: Provision for income taxes | 807 | 920 |
Net Income | $ 3,132 | $ 3,601 |
Per Common Share: | ||
Earnings (in dollars per share) | $ 0.36 | $ 0.41 |
Cash dividends paid (in dollars per share) | $ 0.16 | $ 0.16 |
Weighted Average Common Shares Outstanding (in shares) | 8,807,175 | 8,807,175 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Net Income | $ 3,132 | $ 3,601 |
Unrealized gains (losses) on securities: | ||
Unrealized holding gains (losses) arising during the period | 6,655 | (7,803) |
Reclassification adjustments for gains (losses) included in net income | 402 | (10) |
Change in unrealized gains (losses) on securities | 7,057 | (7,813) |
Tax impact | (1,482) | 1,641 |
Other comprehensive income (loss) | 5,575 | (6,172) |
Comprehensive Income (Loss) | $ 8,707 | $ (2,571) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands | Total | Common Stock $1 Par | Surplus | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) |
Balance at Dec. 31, 2017 | $ 143,983 | $ 8,807 | $ 92,268 | $ 44,464 | $ (1,556) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 3,601 | 0 | 0 | 3,601 | 0 |
Other comprehensive income | (6,172) | 0 | 0 | 0 | (6,172) |
Cash dividends on common stock ($0.16 per share) | (1,409) | 0 | 0 | (1,409) | 0 |
Balance at Mar. 31, 2018 | 140,003 | 8,807 | 92,268 | 46,656 | (7,728) |
Balance at Dec. 31, 2018 | 147,284 | 8,807 | 92,268 | 53,347 | (7,138) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 3,132 | 0 | 0 | 3,132 | 0 |
Other comprehensive income | 5,575 | 0 | 0 | 0 | 5,575 |
Cash dividends on common stock ($0.16 per share) | (1,409) | 0 | 0 | (1,409) | 0 |
Balance at Mar. 31, 2019 | $ 154,582 | $ 8,807 | $ 92,268 | $ 55,070 | $ (1,563) |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends on common stock (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, 2019 | Mar. 31, 2018 | |
Cash Flows From Operating Activities | ||
Net income | $ 3,132 | $ 3,601 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 787 | 605 |
Depreciation and amortization | 752 | 684 |
Amortization/Accretion of investments | 316 | 375 |
Loss (gain) on sale/call of securities | 402 | (10) |
Gain on sale of assets | (11) | (19) |
Repossessed asset write downs, gains and losses on dispositions | 33 | (97) |
FHLB stock dividends | (14) | (8) |
Net increase in loans held for sale | (193) | (529) |
Change in other assets and liabilities, net | 1,879 | 3,189 |
Net Cash Provided By Operating Activities | 7,083 | 7,791 |
Cash Flows From Investing Activities | ||
Proceeds from maturities and calls of HTM securities | 2,323 | 2,854 |
Proceeds from maturities, calls and sales of AFS securities | 25,843 | 160,894 |
Funds Invested in AFS securities | (378) | (171,964) |
Net (increase) decrease in loans | (73,465) | 11,637 |
Purchase of premises and equipment | (2,603) | (584) |
Proceeds from sales of premises and equipment | 0 | 37 |
Proceeds from sales of other real estate owned | 0 | 271 |
Net Cash (Used In) Provided By Investing Activities | (48,280) | 3,145 |
Cash Flows From Financing Activities | ||
Net increase in deposits | 81,527 | 944 |
Net decrease in federal funds purchased and short-term borrowings | 0 | (15,500) |
Repayment of long-term borrowings | (735) | (735) |
Dividends paid | (1,409) | (1,409) |
Net Cash Provided By (Used In) Financing Activities | 79,383 | (16,700) |
Net Increase (Decrease) In Cash and Cash Equivalents | 38,186 | (5,764) |
Cash and Cash Equivalents at the Beginning of the Period | 127,965 | 38,028 |
Cash and Cash Equivalents at the End of the Period | 166,151 | 32,264 |
Noncash Activities: | ||
Acquisition of real estate in settlement of loans | 15 | 164 |
Cash Paid During The Period: | ||
Interest on deposits and borrowed funds | 6,359 | 4,187 |
Income taxes | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | 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 10 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 consolidated financial statements and note disclosures for First Guaranty previously filed with the Securities and Exchange Commission in First Guaranty's Annual Report on Form 10-K for the year ended December 31, 2018 . 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, 2019 and for the three month periods ended March 31, 2019 and 2018 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, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, "Leases: 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 balance sheet 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. During 2018 and early 2019, the FASB issued ASU No. 2018-11, "Targeted Improvements", ASU No. 2018-20, "Narrow-Scope Improvements for Lessors", and ASU No. 2019-01, "Codification Improvements", which clarified certain implementation issues, provided an additional optional transition method and clarified the disclosure requirements during the period of adopting ASU 2016-02, among others. The ASU is effective for annual and interim periods beginning after December 15, 2018. First Guaranty adopted this ASU in the first quarter of 2019. As a result of adopting this ASU, First Guaranty established a right-to-use asset and a lease liability as of January 1, 2019 of $0.9 million . The right-to-use asset represents First Guaranty's right to use an underlying asset for the lease term and is included in other assets on First Guaranty's consolidated balance sheets. The lease liability represents First Guaranty's obligation to make lease payments and is included in other liabilities on First Guaranty's consolidated balance sheets. First Guaranty does not expect material changes to the recognition of lease expense in future periods as a result of the adopting this ASU. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments- Credit Losses: 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 company'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. First Guaranty is currently evaluating the impact of this accounting standard and is implementing a new software application to assist in determining the impact 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. First Guaranty is currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-13, "Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement." This ASU removes, modifies, and adds certain disclosure requirements for fair value measurements. For example, public entities will no longer be required to disclose the valuation processes for Level 3 fair value measurements, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. This ASU is effective for interim and annual reporting periods beginning after December 15, 2019. In addition, entities may early adopt the modified or eliminated disclosure requirements and delay adoption of the additional disclosure requirements until their effective date. First Guaranty does not believe the adoption of this ASU will have a material impact on the Consolidated Financial Statements, as the update only revises disclosure requirements. In April 2019, the FASB issued ASU No. 2019-04, "Codification Improvements to Financial Instruments - Credit Losses, Derivatives and Hedging, and Financial Instruments". The amendments in this ASU improve the Codification by eliminating inconsistencies and providing clarifications. This ASU clarifies the scope of the credit losses standard and addresses various issues including, accrued interest receivable balances, recoveries, variable interest rates and prepayments. For recognizing and measuring financial instruments, this ASU addresses the scope of the guidance, the requirement for remeasurement when using the measurement alternative, certain disclosure requirements and which equity securities have to be remeasure at historical exchange rates. The amended guidance in this ASU related to the credit losses and the recognition and measurement of financial instruments is effective for annual and interim periods beginning after December 15, 2019, with early adoption in any interim period permitted. First Guaranty is currently evaluating the impact of this ASU on the Consolidated Financial Statements. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Securities A summary comparison of securities by type at March 31, 2019 and December 31, 2018 is shown below. March 31, 2019 December 31, 2018 (in thousands) Amortized Cost Gross Gross Fair Value Amortized Cost Gross Unrealized Gains Gross Fair Value Available for sale: U.S. Treasuries $ — $ — $ — $ — $ — $ — $ — $ — U.S. Government Agencies 122,621 — (1,852 ) 120,769 146,911 — (5,522 ) 141,389 Corporate debt securities 74,221 203 (1,256 ) 73,168 76,310 72 (3,504 ) 72,878 Mutual funds or other equity securities 489 — — 489 483 — — 483 Municipal bonds 25,609 1,271 (40 ) 26,840 32,956 1,120 (175 ) 33,901 Collateralized mortgage obligations 875 — (6 ) 869 918 — (14 ) 904 Mortgage-backed securities 47,081 184 (482 ) 46,783 48,434 — (1,012 ) 47,422 Total available for sale securities $ 270,896 $ 1,658 $ (3,636 ) $ 268,918 $ 306,012 $ 1,192 $ (10,227 ) $ 296,977 Held to maturity: U.S. Government Agencies $ 28,172 $ — $ (524 ) $ 27,648 $ 28,172 $ — $ (1,081 ) $ 27,091 Municipal bonds 5,160 44 (9 ) 5,195 5,227 — (101 ) 5,126 Mortgage-backed securities 72,546 — (1,263 ) 71,283 74,927 — (2,304 ) 72,623 Total held to maturity securities $ 105,878 $ 44 $ (1,796 ) $ 104,126 $ 108,326 $ — $ (3,486 ) $ 104,840 The scheduled maturities of securities at March 31, 2019 , 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. At March 31, 2019 (in thousands) Amortized Cost Fair Value Available for sale: Due in one year or less $ 3,353 $ 3,362 Due after one year through five years 45,724 45,627 Due after five years through 10 years 157,926 156,140 Over 10 years 15,937 16,137 Subtotal 222,940 221,266 Collateralized mortgage obligations 875 869 Mortgage-backed securities 47,081 46,783 Total available for sale securities $ 270,896 $ 268,918 Held to maturity: Due in one year or less $ 50 $ 49 Due after one year through five years 7,148 7,041 Due after five years through 10 years 17,519 17,123 Over 10 years 8,615 8,630 Subtotal 33,332 32,843 Mortgage-backed securities 72,546 71,283 Total held to maturity securities $ 105,878 $ 104,126 At March 31, 2019 , $287.2 million of First Guaranty's securities were pledged to secure public funds deposits and borrowings. The pledged securities had a market value of $285.5 million as of March 31, 2019 . 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, 2019 . At March 31, 2019 Less Than 12 Months 12 Months or More Total (in thousands) Number Fair Value Gross Number Fair Value Gross Number Fair Value Gross Available for sale: U.S. Treasuries — $ — $ — — $ — $ — — $ — $ — U.S. Government Agencies 1 4,347 (152 ) 42 116,422 (1,700 ) 43 120,769 (1,852 ) Corporate debt securities 4 1,818 (36 ) 152 50,303 (1,220 ) 156 52,121 (1,256 ) Mutual funds or other equity securities — — — — — — — — — Municipal bonds — — — 11 2,327 (40 ) 11 2,327 (40 ) Collateralized mortgage obligations — — — 5 869 (6 ) 5 869 (6 ) Mortgage-backed securities — — — 37 27,442 (482 ) 37 27,442 (482 ) Total available for sale securities 5 $ 6,165 $ (188 ) 247 $ 197,363 $ (3,448 ) 252 $ 203,528 $ (3,636 ) Held to maturity: U.S. Government Agencies — $ — $ — 14 $ 27,648 $ (524 ) 14 $ 27,648 $ (524 ) Municipal bonds — — — 5 806 (9 ) 5 806 (9 ) Mortgage-backed securities — — — 56 71,282 (1,263 ) 56 71,282 (1,263 ) Total held to maturity securities — $ — $ — 75 $ 99,736 $ (1,796 ) 75 $ 99,736 $ (1,796 ) 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, 2018 . At December 31, 2018 Less Than 12 Months 12 Months or More Total (in thousands) Number Fair Value Gross Number Fair Value Gross Number Fair Value Gross Available for sale: U.S. Treasuries — $ — $ — — $ — $ — — $ — $ — U.S. Government Agencies 1 4,227 (273 ) 50 137,162 (5,249 ) 51 141,389 (5,522 ) Corporate debt securities 37 9,560 (252 ) 183 58,877 (3,252 ) 220 68,437 (3,504 ) Mutual funds or other equity securities — — — — — — — — — Municipal bonds 1 115 — 19 8,436 (175 ) 20 8,551 (175 ) Collateralized mortgage obligations — — — 5 904 (14 ) 5 904 (14 ) Mortgage-backed securities 16 19,453 (73 ) 38 27,969 (939 ) 54 47,422 (1,012 ) Total available for sale securities 55 $ 33,355 $ (598 ) 295 $ 233,348 $ (9,629 ) 350 $ 266,703 $ (10,227 ) Held to maturity: U.S. Government Agencies — $ — $ — 14 $ 27,091 $ (1,081 ) 14 $ 27,091 $ (1,081 ) Municipal bonds — — — 9 5,126 (101 ) 9 5,126 (101 ) Mortgage-backed securities — — — 56 72,623 (2,304 ) 56 72,623 (2,304 ) Total held to maturity securities — $ — $ — 79 $ 104,840 $ (3,486 ) 79 $ 104,840 $ (3,486 ) As of March 31, 2019 , 327 of First Guaranty's debt securities had unrealized losses totaling 1.8% of the individual securities' amortized cost basis and 1.4% of First Guaranty's total amortized cost basis of the investment securities portfolio. 322 of the 327 securities had been in a continuous loss position for over 12 months at such date. The 322 securities had an aggregate amortized cost basis of $302.3 million and an unrealized loss of $5.2 million at March 31, 2019 . 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 that 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. No securities with an other-than-temporary impairment loss were held at March 31, 2019 . 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 three months ended March 31, 2019 and 2018 . 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 three months ended March 31, 2019 and 2018 : (in thousands) Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Beginning balance of credit losses at end of prior year $ 60 $ 60 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 $ 60 In the first three months of 2019 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, 2019 , First Guaranty's exposure to bond issuers that exceeded 10% of shareholders' equity is below: At March 31, 2019 (in thousands) Amortized Cost Fair Value Federal Home Loan Bank (FHLB) $ 40,401 $ 39,833 Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) 44,287 43,789 Federal National Mortgage Association (Fannie Mae-FNMA) 91,839 90,199 Federal Farm Credit Bank (FFCB) 93,893 92,662 Total $ 270,420 $ 266,483 |
Loans
Loans | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
Loans | Loans The following table summarizes the components of First Guaranty's loan portfolio as of March 31, 2019 and December 31, 2018 : March 31, 2019 December 31, 2018 (in thousands except for %) Balance As % of Category Balance As % of Category Real Estate: Construction & land development $ 142,861 11.0 % $ 124,644 10.1 % Farmland 18,904 1.5 % 18,401 1.5 % 1- 4 Family 179,798 13.8 % 172,760 14.1 % Multifamily 42,186 3.2 % 42,918 3.5 % Non-farm non-residential 607,928 46.7 % 586,263 47.7 % Total Real Estate 991,677 76.2 % 944,986 76.9 % Non-Real Estate: Agricultural 21,465 1.7 % 23,108 1.9 % Commercial and industrial 210,187 16.1 % 200,877 16.4 % Consumer and other 78,162 6.0 % 59,443 4.8 % Total Non-Real Estate 309,814 23.8 % 283,428 23.1 % Total Loans Before Unearned Income 1,301,491 100.0 % 1,228,414 100.0 % Unearned income (3,335 ) (3,146 ) Total Loans Net of Unearned Income $ 1,298,156 $ 1,225,268 The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of March 31, 2019 and December 31, 2018 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, 2019 December 31, 2018 (in thousands) Fixed Floating Total Fixed Floating Total One year or less $ 118,973 $ 77,561 $ 196,534 $ 108,160 $ 80,895 $ 189,055 More than one to five years 417,700 316,349 734,049 393,344 287,737 681,081 More than five to 15 years 124,245 86,859 211,104 118,715 86,779 205,494 Over 15 years 91,129 55,680 146,809 85,611 58,430 144,041 Subtotal $ 752,047 $ 536,449 1,288,496 $ 705,830 $ 513,841 1,219,671 Nonaccrual loans 12,995 8,743 Total Loans Before Unearned Income 1,301,491 1,228,414 Unearned income (3,335 ) (3,146 ) Total Loans Net of Unearned Income $ 1,298,156 $ 1,225,268 As of March 31, 2019 , $34.0 million of floating rate loans were at their interest rate floor. At December 31, 2018 , $27.7 million of floating rate loans were at the interest rate floor. Nonaccrual loans have been excluded from these totals. The following tables present the age analysis of past due loans at March 31, 2019 and December 31, 2018 : As of March 31, 2019 (in thousands) 30-89 Days Past Due 90 Days or Greater Total Past Due Current Total Loans Recorded Investment Real Estate: Construction & land development $ 622 $ 305 $ 927 $ 141,934 $ 142,861 $ — Farmland — 1,286 1,286 17,618 18,904 — 1- 4 family 1,930 2,901 4,831 174,967 179,798 363 Multifamily 815 — 815 41,371 42,186 — Non-farm non-residential 4,468 3,650 8,118 599,810 607,928 — Total Real Estate 7,835 8,142 15,977 975,700 991,677 363 Non-Real Estate: Agricultural 263 4,916 5,179 16,286 21,465 — Commercial and industrial 451 385 836 209,351 210,187 135 Consumer and other 376 165 541 77,621 78,162 115 Total Non-Real Estate 1,090 5,466 6,556 303,258 309,814 250 Total Loans Before Unearned Income $ 8,925 $ 13,608 $ 22,533 $ 1,278,958 $ 1,301,491 $ 613 Unearned income (3,335 ) Total Loans Net of Unearned Income $ 1,298,156 As of December 31, 2018 (in thousands) 30-89 Days Past Due 90 Days or Greater Total Past Due Current Total Loans Recorded Investment Real Estate: Construction & land development $ 936 $ 311 $ 1,247 $ 123,397 $ 124,644 $ — Farmland — 1,293 1,293 17,108 18,401 — 1- 4 family 4,333 2,272 6,605 166,155 172,760 26 Multifamily 648 — 648 42,270 42,918 — Non-farm non-residential 4,897 864 5,761 580,502 586,263 — Total Real Estate 10,814 4,740 15,554 929,432 944,986 26 Non-Real Estate: Agricultural 528 3,651 4,179 18,929 23,108 — Commercial and industrial 742 370 1,112 199,765 200,877 53 Consumer and other 537 127 664 58,779 59,443 66 Total Non-Real Estate 1,807 4,148 5,955 277,473 283,428 119 Total Loans Before Unearned Income $ 12,621 $ 8,888 $ 21,509 $ 1,206,905 $ 1,228,414 $ 145 Unearned income (3,146 ) Total Loans Net of Unearned Income $ 1,225,268 The tables above include $13.0 million and $8.7 million of nonaccrual loans at March 31, 2019 and December 31, 2018 , 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, 2019 As of December 31, 2018 Real Estate: Construction & land development $ 305 $ 311 Farmland 1,286 1,293 1- 4 family 2,538 2,246 Multifamily — — Non-farm non-residential 3,650 864 Total Real Estate 7,779 4,714 Non-Real Estate: Agricultural 4,916 3,651 Commercial and industrial 250 317 Consumer and other 50 61 Total Non-Real Estate 5,216 4,029 Total Nonaccrual Loans $ 12,995 $ 8,743 The following table identifies the credit exposure of the loan portfolio, including loans acquired with deteriorated credit quality, by specific credit ratings as of the dates indicated: As of March 31, 2019 As of December 31, 2018 (in thousands) Pass Special Mention Substandard Doubtful Total Pass Special Mention Substandard Doubtful Total Real Estate: Construction & land development $ 133,441 $ 6,570 $ 2,850 $ — $ 142,861 $ 116,062 $ 5,698 $ 2,884 $ — $ 124,644 Farmland 13,687 3,863 1,354 — 18,904 13,151 3,888 1,362 — 18,401 1- 4 family 167,788 2,709 9,301 — 179,798 160,581 2,815 9,364 — 172,760 Multifamily 34,872 — 7,314 — 42,186 35,554 — 7,364 — 42,918 Non-farm non-residential 586,858 3,328 17,742 — 607,928 564,993 2,888 17,859 523 586,263 Total Real Estate 936,646 16,470 38,561 — 991,677 890,341 15,289 38,833 523 944,986 Non-Real Estate: Agricultural 16,140 43 5,282 — 21,465 19,050 43 4,015 — 23,108 Commercial and industrial 187,419 19,136 3,632 — 210,187 186,176 10,930 3,771 — 200,877 Consumer and other 77,856 155 151 — 78,162 59,119 151 173 — 59,443 Total Non-Real Estate 281,415 19,334 9,065 — 309,814 264,345 11,124 7,959 — 283,428 Total Loans Before Unearned Income $ 1,218,061 $ 35,804 $ 47,626 $ — 1,301,491 $ 1,154,686 $ 26,413 $ 46,792 $ 523 1,228,414 Unearned income (3,335 ) (3,146 ) Total Loans Net of Unearned Income $ 1,298,156 $ 1,225,268 Purchased Impaired Loans As part of the acquisition of Premier on June 16, 2017, First Guaranty purchased credit impaired loans for which there was, at acquisition, evidence of deterioration of credit quality since their origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans is as follows at March 31, 2019 and December 31, 2018 . (in thousands) As of March 31, 2019 As of December 31, 2018 Real Estate: Construction & land development $ — $ — Farmland — 1 1- 4 family 47 48 Multifamily — — Non-farm non-residential 2,288 2,301 Total Real Estate 2,335 2,350 Non-Real Estate: Agricultural — — Commercial and industrial 903 909 Consumer and other — — Total Non-Real Estate 903 909 Total $ 3,238 $ 3,259 Where First Guaranty can reasonably estimate the cash flows expected to be collected on the loans, a portion of the purchase discount is allocated to an accretable yield adjustment based upon the present value of the future estimated cash flows versus the current carrying value of the loan and the accretable yield portion is being recognized as interest income over the remaining life of the loan. Where First Guaranty cannot reasonably estimate the cash flows expected to be collected on the loans, it has decided to account for those loans using the cost recovery method of income recognition. As such, no portion of a purchase discount adjustment has been determined to meet the definition of an accretable yield adjustment on those loans accounted for using the cost recovery method. If, in the future, cash flows from the borrower(s) can be reasonably estimated, a portion of the purchase discount would be allocated to an accretable yield adjustment based upon the present value of the future estimated cash flows versus the current carrying value of the loan and the accretable yield portion would be recognized as interest income over the remaining life of the loan. Until such accretable yield can be calculated, under the cost recovery method of income recognition, all payments will be used to reduce the carrying value of the loan and no income will be recognized on the loan until the carrying value is reduced to zero. The accretable yield, or income expected to be collected, on the purchased loans above is as follows for the three months ended March 31, 2019 and 2018 . (in thousands) Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Balance, beginning of period $ 613 $ 1,031 Acquisition accretable yield — — Accretion (50 ) (65 ) Net transfers from nonaccretable difference to accretable yield — — Balance, end of period $ 563 $ 966 |
Allowance for Loan Losses
Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2019 | |
Allowance for Loan Losses [Abstract] | |
Allowance for Loan Losses | Allowance for Loan Losses A summary of changes in the allowance for loan losses, by portfolio type, for the three months ended March 31, 2019 and 2018 are as follows: For the Three Months Ended March 31, 2019 2018 (in thousands) Beginning Charge-offs Recoveries Provision Ending Beginning Charge-offs Recoveries Provision Ending Real Estate: Construction & land development $ 581 $ — $ — $ 19 $ 600 $ 628 $ — $ 1 $ (60 ) $ 569 Farmland 41 — — 3 44 5 — — 21 26 1- 4 family 911 (16 ) 2 (18 ) 879 1,078 (97 ) 80 (157 ) 904 Multifamily 1,318 — — 10 1,328 994 — 10 510 1,514 Non-farm non-residential 4,771 — 3 69 4,843 2,811 — 3 722 3,536 Total Real Estate 7,622 (16 ) 5 83 7,694 5,516 (97 ) 94 1,036 6,549 Non-Real Estate: Agricultural 339 — — 15 354 187 — 11 94 292 Commercial and industrial 1,909 (246 ) 8 305 1,976 2,377 — 10 (453 ) 1,934 Consumer and other 891 (374 ) 61 370 948 1,125 (98 ) 38 (58 ) 1,007 Unallocated 15 — — 14 29 20 — — (14 ) 6 Total Non-Real Estate 3,154 (620 ) 69 704 3,307 3,709 (98 ) 59 (431 ) 3,239 Total $ 10,776 $ (636 ) $ 74 $ 787 $ 11,001 $ 9,225 $ (195 ) $ 153 $ 605 $ 9,788 Negative provisions are caused by changes in the composition and credit quality of the loan portfolio and by recoveries. The result is an allocation of the loan loss reserve from one category to another. A summary of the allowance and loans, including loans acquired with deteriorated credit quality, individually and collectively evaluated for impairment are as follows: As of March 31, 2019 (in thousands) Allowance Allowance Individually Evaluated for Purchased Credit-Impairment Allowance Total Allowance Loans Loans Individually Evaluated for Purchased Credit-Impairment Loans Total Loans Real Estate: Construction & land development $ — $ — $ 600 $ 600 $ — $ — $ 142,861 $ 142,861 Farmland — — 44 44 552 — 18,352 18,904 1- 4 family — — 879 879 1,238 47 178,513 179,798 Multifamily — — 1,328 1,328 — — 42,186 42,186 Non-farm non-residential 1,697 — 3,146 4,843 6,132 2,288 599,508 607,928 Total Real Estate 1,697 — 5,997 7,694 7,922 2,335 981,420 991,677 Non-Real Estate: Agricultural — — 354 354 4,032 — 17,433 21,465 Commercial and industrial 104 — 1,872 1,976 1,059 903 208,225 210,187 Consumer and other — — 948 948 — — 78,162 78,162 Unallocated — — 29 29 — — — — Total Non-Real Estate 104 — 3,203 3,307 5,091 903 303,820 309,814 Total $ 1,801 $ — $ 9,200 $ 11,001 $ 13,013 $ 3,238 $ 1,285,240 1,301,491 Unearned Income (3,335 ) Total Loans Net of Unearned Income $ 1,298,156 As of December 31, 2018 (in thousands) Allowance Allowance Individually Evaluated for Purchased Credit-Impairment Allowance Total Allowance Loans Loans Individually Evaluated for Purchased Credit-Impairment Loans Total Loans Real Estate: Construction & land development $ 38 $ — $ 543 $ 581 $ 304 $ — $ 124,340 $ 124,644 Farmland — — 41 41 552 1 17,848 18,401 1- 4 family — — 911 911 631 48 172,081 172,760 Multifamily — — 1,318 1,318 — — 42,918 42,918 Non-farm non-residential 1,152 — 3,619 4,771 4,881 2,301 579,081 586,263 Total Real Estate 1,190 — 6,432 7,622 6,368 2,350 936,268 944,986 Non-Real Estate: Agricultural — — 339 339 2,983 — 20,125 23,108 Commercial and industrial 110 — 1,799 1,909 1,088 909 198,880 200,877 Consumer and other — — 891 891 — — 59,443 59,443 Unallocated — — 15 15 — — — — Total Non-Real Estate 110 — 3,044 3,154 4,071 909 278,448 283,428 Total $ 1,300 $ — $ 9,476 $ 10,776 $ 10,439 $ 3,259 $ 1,214,716 1,228,414 Unearned Income (3,146 ) Total loans net of unearned income $ 1,225,268 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, excluding loans acquired with deteriorated credit quality, by class as of the date indicated: As of March 31, 2019 (in thousands) Recorded Unpaid Related Average Interest Income Interest Income Impaired Loans with no related allowance: Real Estate: Construction & land development $ — $ — $ — $ — $ — $ — Farmland — — — — — — 1- 4 family 1,238 1,238 — 1,283 12 20 Multifamily — — — — — — Non-farm non-residential — — — — — — Total Real Estate 1,238 1,238 — 1,283 12 20 Non-Real Estate: Agricultural 4,584 4,662 — 4,584 11 — Commercial and industrial — — — — — — Consumer and other — — — — — — Total Non-Real Estate 4,584 4,662 — 4,584 11 — Total Impaired Loans with no related allowance 5,822 5,900 — 5,867 23 20 Impaired Loans with an allowance recorded: Real Estate: Construction & land development — — — — — — Farmland — — — — — — 1- 4 family — — — — — — Multifamily — — — — — — Non-farm non-residential 6,132 6,132 1,697 6,141 73 30 Total Real Estate 6,132 6,132 1,697 6,141 73 30 Non-Real Estate: Agricultural — — — — — Commercial and industrial 1,059 1,059 104 1,069 11 16 Consumer and other — — — — — — Total Non-Real Estate 1,059 1,059 104 1,069 11 16 Total Impaired Loans with an allowance recorded 7,191 7,191 1,801 7,210 84 46 Total Impaired Loans $ 13,013 $ 13,091 $ 1,801 $ 13,077 $ 107 $ 66 The following is a summary of impaired loans, excluding loans acquired with deteriorated credit quality, by class as of the date indicated: As of December 31, 2018 (in thousands) Recorded Unpaid Related Average Interest Income Interest Income Impaired Loans with no related allowance: Real Estate: Construction & land development $ — $ — $ — $ — $ — $ — Farmland — — — — — — 1- 4 family 631 631 — 626 13 — Multifamily — — — — — — Non-farm non-residential 523 523 — 536 33 34 Total Real Estate 1,154 1,154 — 1,162 46 34 Non-Real Estate: Agricultural 3,535 3,613 — 3,583 173 272 Commercial and industrial — — — — — — Consumer and other — — — — — — Total Non-Real Estate 3,535 3,613 — 3,583 173 272 Total Impaired Loans with no related allowance 4,689 4,767 — 4,745 219 306 Impaired Loans with an allowance recorded: Real Estate: Construction & land development — — — — — — Farmland — — — — — — 1- 4 family — — — — — — Multifamily — — — — — — Non-farm non-residential 3,070 3,070 1,150 3,104 139 139 Total Real Estate 3,070 3,070 1,150 3,104 139 139 Non-Real Estate: Agricultural — — — — — — Commercial and industrial 1,088 1,088 110 1,115 55 64 Consumer and other — — — — — — Total Non-Real Estate 1,088 1,088 110 1,115 55 64 Total Impaired Loans with an allowance recorded 4,158 4,158 1,260 4,219 194 203 Total Impaired Loans $ 8,847 $ 8,925 $ 1,260 $ 8,964 $ 413 $ 509 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 TDRs in the three months ended March 31, 2019 . The following table identifies the TDRs as of March 31, 2019 and December 31, 2018 : March 31, 2019 December 31, 2018 Accruing Loans Accruing Loans (in thousands) Current 30-89 Days Nonaccrual Total TDRs Current 30-89 Days Nonaccrual Total TDRs Real Estate: Construction & land development $ — $ — $ — $ — $ — $ — $ 304 $ 304 Farmland — — — — — — — — 1- 4 Family — — — — — — — — Multifamily — — — — — — — — Non-farm non residential — — — — 1,288 — — 1,288 Total Real Estate — — — — 1,288 — 304 1,592 Non-Real Estate: Agricultural — — — — — — — — Commercial and industrial — — — — — — — — Consumer and other — — — — — — — — Total Non-Real Estate — — — — — — — — Total $ — $ — $ — $ — $ 1,288 $ — $ 304 $ 1,592 The following table discloses TDR activity for the three months ended March 31, 2019 . Troubled Debt Restructured Loans Activity (in thousands) Beginning balance New TDRs Charge-offs Transferred to ORE Paydowns Construction Restructured Other adjustments Ending balance Real Estate: Construction & land development $ 304 $ — $ — $ — $ — $ — $ (304 ) $ — $ — Farmland — — — — — — — — — 1 - 4 family — — — — — — — — — Multifamily — — — — — — — — — Non-farm non-residential 1,288 — — — — — (1,288 ) — — Total Real Estate 1,592 — — — — — (1,592 ) — — Non-Real Estate: Agricultural — — — — — — — — — Commercial and industrial — — — — — — — — — Consumer and other — — — — — — — — — Total Non-Real Estate — — — — — — — — — Total $ 1,592 $ — $ — $ — $ — $ — $ (1,592 ) — $ — |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | 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 and Premier in 2017. Goodwill totaled $3.5 million at March 31, 2019 and December 31, 2018 . No impairment charges have been recognized on First Guaranty's intangible assets. Loan servicing assets decreased $0.1 million to $0.8 million at March 31, 2019 compared to December 31, 2018 . Other intangible assets recorded include core deposit intangibles, which are subject to amortization. The weighted-average amortization period remaining for First Guaranty's core deposit intangibles is 9.3 years at March 31, 2019 . The core deposits intangible reflect the value of deposit relationships, including the beneficial rates, which arose from acquisitions. |
Other Real Estate (ORE)
Other Real Estate (ORE) | 3 Months Ended |
Mar. 31, 2019 | |
Real Estate [Abstract] | |
Other Real Estate (ORE) | Other Real Estate (ORE) Other real estate owned consists of the following at the dates indicated: (in thousands) March 31, 2019 December 31, 2018 Real Estate Owned Acquired by Foreclosure: Residential $ 135 $ 120 Construction & land development 219 241 Non-farm non-residential 766 777 Total Other Real Estate Owned and Foreclosed Property $ 1,120 $ 1,138 Loans secured by one-to-four family residential properties in the process of foreclosure totaled $0.8 million as of March 31, 2019 . |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 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, 2019 and December 31, 2018 : Contract Amount (in thousands) March 31, 2019 December 31, 2018 Commitments to Extend Credit $ 104,798 $ 108,348 Unfunded Commitments under lines of credit $ 145,155 $ 122,212 Commercial and Standby letters of credit $ 6,927 $ 6,912 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, 2019 , any incremental liability arising from First Guaranty's legal proceedings will not have a material adverse effect on First Guaranty's financial position or results of operations. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 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 – Unadjusted quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds or credit risks) or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs – Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity's own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. 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. Securities are classified within Level 1 where quoted market prices are available in an active market. Inputs include securities that have quoted prices in active markets for identical assets. If quoted market prices are unavailable, fair value is estimated using quoted prices of securities with similar characteristics, at which point the securities would be classified within Level 2 of the hierarchy. Securities classified within Level 3 in First Guaranty's portfolio as of March 31, 2019 includes corporate debt and municipal securities. Impaired loans. Loans are measured for impairment using the methods permitted by ASC Topic 310. 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. Other real estate owned. Properties are recorded at the balance of the loan or at estimated fair value less estimated selling costs, whichever is less, at the date acquired. Fair values of other real estate owned ("OREO") are determined by sales agreement or appraisal, and costs to sell are based on estimation per the terms and conditions of the sales agreement or amounts commonly used in real estate transactions. Inputs include appraisal values or recent sales activity for similar assets in the property's market; thus OREO measured at fair value would be classified within either Level 2 or Level 3 of the hierarchy. 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, 2019 and December 31, 2018 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) March 31, 2019 December 31, 2018 Available for Sale Securities Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ 489 $ 483 Level 2: Significant Other Observable Inputs 263,238 291,733 Level 3: Significant Unobservable Inputs 5,191 4,761 Securities available for sale measured at fair value $ 268,918 $ 296,977 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, 2018 to March 31, 2019 was due to the change in valuation on a mutal fund security. The change in Level 2 securities available for sale from December 31, 2018 to March 31, 2019 was due principally to a reduction in agency, municipal and corporate bonds related to sales and maturities. There were no transfers between Level 1 and 2 securities available for sale from December 31, 2018 to March 31, 2019 . The following table reconciles assets measured at fair value on a recurring basis using unobservable inputs (Level 3) : Level 3 Changes (in thousands) March 31, 2019 Balance, beginning of year $ 4,761 Total gains or losses (realized/unrealized): Included in earnings — Included in other comprehensive income 72 Purchases, sales, issuances and settlements, net 358 Transfers in and/or out of Level 3 — Balance as of end of period $ 5,191 There were no gains or losses for the period included in earnings attributable to the change in unrealized gains or losses related to assets still held as of March 31, 2019 . The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of March 31, 2019 and December 31, 2018 , segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) At March 31, 2019 At December 31, 2018 Impaired Loans - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ — $ — Level 2: Significant Other Observable Inputs — — Level 3: Significant Unobservable Inputs 6,112 3,620 Impaired loans measured at fair value $ 6,112 $ 3,620 Other Real Estate Owned - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ — $ — Level 2: Significant Other Observable Inputs 456 1,012 Level 3: Significant Unobservable Inputs 947 126 Other real estate owned measured at fair value $ 1,403 $ 1,138 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, 2019 | |
Financial Instruments, Owned, at Fair Value [Abstract] | |
Financial Instruments | 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, 2019 and December 31, 2018 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, 2019 and December 31, 2018 are presented in the following table: March 31, 2019 December 31, 2018 (in thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Assets Cash and cash equivalents $ 166,151 $ 166,151 $ 127,965 $ 127,965 Securities, available for sale 268,918 268,918 296,977 296,977 Securities, held to maturity 105,878 104,126 108,326 104,840 Federal Home Loan Bank stock 2,407 2,407 2,393 2,393 Loans held for sale 537 590 344 379 Loans, net 1,287,155 1,266,724 1,214,492 1,193,886 Accrued interest receivable 7,707 7,707 6,716 6,716 Liabilities Deposits $ 1,711,149 $ 1,708,586 $ 1,629,622 $ 1,625,827 Borrowings 19,105 19,092 19,838 19,853 Junior subordinated debentures 14,709 14,741 14,700 14,537 Accrued interest payable 4,975 4,975 3,952 3,952 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. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting | 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 10 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 consolidated financial statements and note disclosures for First Guaranty previously filed with the Securities and Exchange Commission in First Guaranty's Annual Report on Form 10-K for the year ended December 31, 2018 . 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, 2019 and for the three month periods ended March 31, 2019 and 2018 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. |
New Accounting Pronouncements, Policy [Policy Text Block] | n February 2016, the FASB issued ASU 2016-02, "Leases: 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 balance sheet 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. During 2018 and early 2019, the FASB issued ASU No. 2018-11, "Targeted Improvements", ASU No. 2018-20, "Narrow-Scope Improvements for Lessors", and ASU No. 2019-01, "Codification Improvements", which clarified certain implementation issues, provided an additional optional transition method and clarified the disclosure requirements during the period of adopting ASU 2016-02, among others. The ASU is effective for annual and interim periods beginning after December 15, 2018. First Guaranty adopted this ASU in the first quarter of 2019. As a result of adopting this ASU, First Guaranty established a right-to-use asset and a lease liability as of January 1, 2019 of $0.9 million . The right-to-use asset represents First Guaranty's right to use an underlying asset for the lease term and is included in other assets on First Guaranty's consolidated balance sheets. The lease liability represents First Guaranty's obligation to make lease payments and is included in other liabilities on First Guaranty's consolidated balance sheets. First Guaranty does not expect material changes to the recognition of lease expense in future periods as a result of the adopting this ASU. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments- Credit Losses: 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 company'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. First Guaranty is currently evaluating the impact of this accounting standard and is implementing a new software application to assist in determining the impact 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. First Guaranty is currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-13, "Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement." This ASU removes, modifies, and adds certain disclosure requirements for fair value measurements. For example, public entities will no longer be required to disclose the valuation processes for Level 3 fair value measurements, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. This ASU is effective for interim and annual reporting periods beginning after December 15, 2019. In addition, entities may early adopt the modified or eliminated disclosure requirements and delay adoption of the additional disclosure requirements until their effective date. First Guaranty does not believe the adoption of this ASU will have a material impact on the Consolidated Financial Statements, as the update only revises disclosure requirements. |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary Comparison of Securities by Type | A summary comparison of securities by type at March 31, 2019 and December 31, 2018 is shown below. March 31, 2019 December 31, 2018 (in thousands) Amortized Cost Gross Gross Fair Value Amortized Cost Gross Unrealized Gains Gross Fair Value Available for sale: U.S. Treasuries $ — $ — $ — $ — $ — $ — $ — $ — U.S. Government Agencies 122,621 — (1,852 ) 120,769 146,911 — (5,522 ) 141,389 Corporate debt securities 74,221 203 (1,256 ) 73,168 76,310 72 (3,504 ) 72,878 Mutual funds or other equity securities 489 — — 489 483 — — 483 Municipal bonds 25,609 1,271 (40 ) 26,840 32,956 1,120 (175 ) 33,901 Collateralized mortgage obligations 875 — (6 ) 869 918 — (14 ) 904 Mortgage-backed securities 47,081 184 (482 ) 46,783 48,434 — (1,012 ) 47,422 Total available for sale securities $ 270,896 $ 1,658 $ (3,636 ) $ 268,918 $ 306,012 $ 1,192 $ (10,227 ) $ 296,977 Held to maturity: U.S. Government Agencies $ 28,172 $ — $ (524 ) $ 27,648 $ 28,172 $ — $ (1,081 ) $ 27,091 Municipal bonds 5,160 44 (9 ) 5,195 5,227 — (101 ) 5,126 Mortgage-backed securities 72,546 — (1,263 ) 71,283 74,927 — (2,304 ) 72,623 Total held to maturity securities $ 105,878 $ 44 $ (1,796 ) $ 104,126 $ 108,326 $ — $ (3,486 ) $ 104,840 |
Investments Classified by Contractual Maturity Date | The scheduled maturities of securities at March 31, 2019 , 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. At March 31, 2019 (in thousands) Amortized Cost Fair Value Available for sale: Due in one year or less $ 3,353 $ 3,362 Due after one year through five years 45,724 45,627 Due after five years through 10 years 157,926 156,140 Over 10 years 15,937 16,137 Subtotal 222,940 221,266 Collateralized mortgage obligations 875 869 Mortgage-backed securities 47,081 46,783 Total available for sale securities $ 270,896 $ 268,918 Held to maturity: Due in one year or less $ 50 $ 49 Due after one year through five years 7,148 7,041 Due after five years through 10 years 17,519 17,123 Over 10 years 8,615 8,630 Subtotal 33,332 32,843 Mortgage-backed securities 72,546 71,283 Total held to maturity securities $ 105,878 $ 104,126 |
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, 2019 . At March 31, 2019 Less Than 12 Months 12 Months or More Total (in thousands) Number Fair Value Gross Number Fair Value Gross Number Fair Value Gross Available for sale: U.S. Treasuries — $ — $ — — $ — $ — — $ — $ — U.S. Government Agencies 1 4,347 (152 ) 42 116,422 (1,700 ) 43 120,769 (1,852 ) Corporate debt securities 4 1,818 (36 ) 152 50,303 (1,220 ) 156 52,121 (1,256 ) Mutual funds or other equity securities — — — — — — — — — Municipal bonds — — — 11 2,327 (40 ) 11 2,327 (40 ) Collateralized mortgage obligations — — — 5 869 (6 ) 5 869 (6 ) Mortgage-backed securities — — — 37 27,442 (482 ) 37 27,442 (482 ) Total available for sale securities 5 $ 6,165 $ (188 ) 247 $ 197,363 $ (3,448 ) 252 $ 203,528 $ (3,636 ) Held to maturity: U.S. Government Agencies — $ — $ — 14 $ 27,648 $ (524 ) 14 $ 27,648 $ (524 ) Municipal bonds — — — 5 806 (9 ) 5 806 (9 ) Mortgage-backed securities — — — 56 71,282 (1,263 ) 56 71,282 (1,263 ) Total held to maturity securities — $ — $ — 75 $ 99,736 $ (1,796 ) 75 $ 99,736 $ (1,796 ) 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, 2018 . At December 31, 2018 Less Than 12 Months 12 Months or More Total (in thousands) Number Fair Value Gross Number Fair Value Gross Number Fair Value Gross Available for sale: U.S. Treasuries — $ — $ — — $ — $ — — $ — $ — U.S. Government Agencies 1 4,227 (273 ) 50 137,162 (5,249 ) 51 141,389 (5,522 ) Corporate debt securities 37 9,560 (252 ) 183 58,877 (3,252 ) 220 68,437 (3,504 ) Mutual funds or other equity securities — — — — — — — — — Municipal bonds 1 115 — 19 8,436 (175 ) 20 8,551 (175 ) Collateralized mortgage obligations — — — 5 904 (14 ) 5 904 (14 ) Mortgage-backed securities 16 19,453 (73 ) 38 27,969 (939 ) 54 47,422 (1,012 ) Total available for sale securities 55 $ 33,355 $ (598 ) 295 $ 233,348 $ (9,629 ) 350 $ 266,703 $ (10,227 ) Held to maturity: U.S. Government Agencies — $ — $ — 14 $ 27,091 $ (1,081 ) 14 $ 27,091 $ (1,081 ) Municipal bonds — — — 9 5,126 (101 ) 9 5,126 (101 ) Mortgage-backed securities — — — 56 72,623 (2,304 ) 56 72,623 (2,304 ) Total held to maturity securities — $ — $ — 79 $ 104,840 $ (3,486 ) 79 $ 104,840 $ (3,486 ) |
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 three months ended March 31, 2019 and 2018 : (in thousands) Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Beginning balance of credit losses at end of prior year $ 60 $ 60 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 $ 60 |
Schedule of Exposure to Investment Securities Issuers that Exceeded 10% of Shareholders' Equity | At March 31, 2019 , First Guaranty's exposure to bond issuers that exceeded 10% of shareholders' equity is below: At March 31, 2019 (in thousands) Amortized Cost Fair Value Federal Home Loan Bank (FHLB) $ 40,401 $ 39,833 Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) 44,287 43,789 Federal National Mortgage Association (Fannie Mae-FNMA) 91,839 90,199 Federal Farm Credit Bank (FFCB) 93,893 92,662 Total $ 270,420 $ 266,483 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
Summary of Components of Loan Portfolio | The following table summarizes the components of First Guaranty's loan portfolio as of March 31, 2019 and December 31, 2018 : March 31, 2019 December 31, 2018 (in thousands except for %) Balance As % of Category Balance As % of Category Real Estate: Construction & land development $ 142,861 11.0 % $ 124,644 10.1 % Farmland 18,904 1.5 % 18,401 1.5 % 1- 4 Family 179,798 13.8 % 172,760 14.1 % Multifamily 42,186 3.2 % 42,918 3.5 % Non-farm non-residential 607,928 46.7 % 586,263 47.7 % Total Real Estate 991,677 76.2 % 944,986 76.9 % Non-Real Estate: Agricultural 21,465 1.7 % 23,108 1.9 % Commercial and industrial 210,187 16.1 % 200,877 16.4 % Consumer and other 78,162 6.0 % 59,443 4.8 % Total Non-Real Estate 309,814 23.8 % 283,428 23.1 % Total Loans Before Unearned Income 1,301,491 100.0 % 1,228,414 100.0 % Unearned income (3,335 ) (3,146 ) Total Loans Net of Unearned Income $ 1,298,156 $ 1,225,268 |
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, 2019 and December 31, 2018 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, 2019 December 31, 2018 (in thousands) Fixed Floating Total Fixed Floating Total One year or less $ 118,973 $ 77,561 $ 196,534 $ 108,160 $ 80,895 $ 189,055 More than one to five years 417,700 316,349 734,049 393,344 287,737 681,081 More than five to 15 years 124,245 86,859 211,104 118,715 86,779 205,494 Over 15 years 91,129 55,680 146,809 85,611 58,430 144,041 Subtotal $ 752,047 $ 536,449 1,288,496 $ 705,830 $ 513,841 1,219,671 Nonaccrual loans 12,995 8,743 Total Loans Before Unearned Income 1,301,491 1,228,414 Unearned income (3,335 ) (3,146 ) Total Loans Net of Unearned Income $ 1,298,156 $ 1,225,268 |
Past due Financing Receivables | The following tables present the age analysis of past due loans at March 31, 2019 and December 31, 2018 : As of March 31, 2019 (in thousands) 30-89 Days Past Due 90 Days or Greater Total Past Due Current Total Loans Recorded Investment Real Estate: Construction & land development $ 622 $ 305 $ 927 $ 141,934 $ 142,861 $ — Farmland — 1,286 1,286 17,618 18,904 — 1- 4 family 1,930 2,901 4,831 174,967 179,798 363 Multifamily 815 — 815 41,371 42,186 — Non-farm non-residential 4,468 3,650 8,118 599,810 607,928 — Total Real Estate 7,835 8,142 15,977 975,700 991,677 363 Non-Real Estate: Agricultural 263 4,916 5,179 16,286 21,465 — Commercial and industrial 451 385 836 209,351 210,187 135 Consumer and other 376 165 541 77,621 78,162 115 Total Non-Real Estate 1,090 5,466 6,556 303,258 309,814 250 Total Loans Before Unearned Income $ 8,925 $ 13,608 $ 22,533 $ 1,278,958 $ 1,301,491 $ 613 Unearned income (3,335 ) Total Loans Net of Unearned Income $ 1,298,156 As of December 31, 2018 (in thousands) 30-89 Days Past Due 90 Days or Greater Total Past Due Current Total Loans Recorded Investment Real Estate: Construction & land development $ 936 $ 311 $ 1,247 $ 123,397 $ 124,644 $ — Farmland — 1,293 1,293 17,108 18,401 — 1- 4 family 4,333 2,272 6,605 166,155 172,760 26 Multifamily 648 — 648 42,270 42,918 — Non-farm non-residential 4,897 864 5,761 580,502 586,263 — Total Real Estate 10,814 4,740 15,554 929,432 944,986 26 Non-Real Estate: Agricultural 528 3,651 4,179 18,929 23,108 — Commercial and industrial 742 370 1,112 199,765 200,877 53 Consumer and other 537 127 664 58,779 59,443 66 Total Non-Real Estate 1,807 4,148 5,955 277,473 283,428 119 Total Loans Before Unearned Income $ 12,621 $ 8,888 $ 21,509 $ 1,206,905 $ 1,228,414 $ 145 Unearned income (3,146 ) Total Loans Net of Unearned Income $ 1,225,268 |
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, 2019 As of December 31, 2018 Real Estate: Construction & land development $ 305 $ 311 Farmland 1,286 1,293 1- 4 family 2,538 2,246 Multifamily — — Non-farm non-residential 3,650 864 Total Real Estate 7,779 4,714 Non-Real Estate: Agricultural 4,916 3,651 Commercial and industrial 250 317 Consumer and other 50 61 Total Non-Real Estate 5,216 4,029 Total Nonaccrual Loans $ 12,995 $ 8,743 |
Credit Exposure of Loan Portfolio, Including Loans Acquired with Deteriorated Credit Quality, by Specific Credit Ratings | The following table identifies the credit exposure of the loan portfolio, including loans acquired with deteriorated credit quality, by specific credit ratings as of the dates indicated: As of March 31, 2019 As of December 31, 2018 (in thousands) Pass Special Mention Substandard Doubtful Total Pass Special Mention Substandard Doubtful Total Real Estate: Construction & land development $ 133,441 $ 6,570 $ 2,850 $ — $ 142,861 $ 116,062 $ 5,698 $ 2,884 $ — $ 124,644 Farmland 13,687 3,863 1,354 — 18,904 13,151 3,888 1,362 — 18,401 1- 4 family 167,788 2,709 9,301 — 179,798 160,581 2,815 9,364 — 172,760 Multifamily 34,872 — 7,314 — 42,186 35,554 — 7,364 — 42,918 Non-farm non-residential 586,858 3,328 17,742 — 607,928 564,993 2,888 17,859 523 586,263 Total Real Estate 936,646 16,470 38,561 — 991,677 890,341 15,289 38,833 523 944,986 Non-Real Estate: Agricultural 16,140 43 5,282 — 21,465 19,050 43 4,015 — 23,108 Commercial and industrial 187,419 19,136 3,632 — 210,187 186,176 10,930 3,771 — 200,877 Consumer and other 77,856 155 151 — 78,162 59,119 151 173 — 59,443 Total Non-Real Estate 281,415 19,334 9,065 — 309,814 264,345 11,124 7,959 — 283,428 Total Loans Before Unearned Income $ 1,218,061 $ 35,804 $ 47,626 $ — 1,301,491 $ 1,154,686 $ 26,413 $ 46,792 $ 523 1,228,414 Unearned income (3,335 ) (3,146 ) Total Loans Net of Unearned Income $ 1,298,156 $ 1,225,268 |
Carrying Amount of Purchased Impaired Loans | As part of the acquisition of Premier on June 16, 2017, First Guaranty purchased credit impaired loans for which there was, at acquisition, evidence of deterioration of credit quality since their origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans is as follows at March 31, 2019 and December 31, 2018 . (in thousands) As of March 31, 2019 As of December 31, 2018 Real Estate: Construction & land development $ — $ — Farmland — 1 1- 4 family 47 48 Multifamily — — Non-farm non-residential 2,288 2,301 Total Real Estate 2,335 2,350 Non-Real Estate: Agricultural — — Commercial and industrial 903 909 Consumer and other — — Total Non-Real Estate 903 909 Total $ 3,238 $ 3,259 |
Accretable Yield, or Income Expected to be Collected, on Purchased Loans | The accretable yield, or income expected to be collected, on the purchased loans above is as follows for the three months ended March 31, 2019 and 2018 . (in thousands) Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Balance, beginning of period $ 613 $ 1,031 Acquisition accretable yield — — Accretion (50 ) (65 ) Net transfers from nonaccretable difference to accretable yield — — Balance, end of period $ 563 $ 966 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 and 2018 are as follows: For the Three Months Ended March 31, 2019 2018 (in thousands) Beginning Charge-offs Recoveries Provision Ending Beginning Charge-offs Recoveries Provision Ending Real Estate: Construction & land development $ 581 $ — $ — $ 19 $ 600 $ 628 $ — $ 1 $ (60 ) $ 569 Farmland 41 — — 3 44 5 — — 21 26 1- 4 family 911 (16 ) 2 (18 ) 879 1,078 (97 ) 80 (157 ) 904 Multifamily 1,318 — — 10 1,328 994 — 10 510 1,514 Non-farm non-residential 4,771 — 3 69 4,843 2,811 — 3 722 3,536 Total Real Estate 7,622 (16 ) 5 83 7,694 5,516 (97 ) 94 1,036 6,549 Non-Real Estate: Agricultural 339 — — 15 354 187 — 11 94 292 Commercial and industrial 1,909 (246 ) 8 305 1,976 2,377 — 10 (453 ) 1,934 Consumer and other 891 (374 ) 61 370 948 1,125 (98 ) 38 (58 ) 1,007 Unallocated 15 — — 14 29 20 — — (14 ) 6 Total Non-Real Estate 3,154 (620 ) 69 704 3,307 3,709 (98 ) 59 (431 ) 3,239 Total $ 10,776 $ (636 ) $ 74 $ 787 $ 11,001 $ 9,225 $ (195 ) $ 153 $ 605 $ 9,788 Negative provisions are caused by changes in the composition and credit quality of the loan portfolio and by recoveries. The result is an allocation of the loan loss reserve from one category to another. A summary of the allowance and loans, including loans acquired with deteriorated credit quality, individually and collectively evaluated for impairment are as follows: As of March 31, 2019 (in thousands) Allowance Allowance Individually Evaluated for Purchased Credit-Impairment Allowance Total Allowance Loans Loans Individually Evaluated for Purchased Credit-Impairment Loans Total Loans Real Estate: Construction & land development $ — $ — $ 600 $ 600 $ — $ — $ 142,861 $ 142,861 Farmland — — 44 44 552 — 18,352 18,904 1- 4 family — — 879 879 1,238 47 178,513 179,798 Multifamily — — 1,328 1,328 — — 42,186 42,186 Non-farm non-residential 1,697 — 3,146 4,843 6,132 2,288 599,508 607,928 Total Real Estate 1,697 — 5,997 7,694 7,922 2,335 981,420 991,677 Non-Real Estate: Agricultural — — 354 354 4,032 — 17,433 21,465 Commercial and industrial 104 — 1,872 1,976 1,059 903 208,225 210,187 Consumer and other — — 948 948 — — 78,162 78,162 Unallocated — — 29 29 — — — — Total Non-Real Estate 104 — 3,203 3,307 5,091 903 303,820 309,814 Total $ 1,801 $ — $ 9,200 $ 11,001 $ 13,013 $ 3,238 $ 1,285,240 1,301,491 Unearned Income (3,335 ) Total Loans Net of Unearned Income $ 1,298,156 As of December 31, 2018 (in thousands) Allowance Allowance Individually Evaluated for Purchased Credit-Impairment Allowance Total Allowance Loans Loans Individually Evaluated for Purchased Credit-Impairment Loans Total Loans Real Estate: Construction & land development $ 38 $ — $ 543 $ 581 $ 304 $ — $ 124,340 $ 124,644 Farmland — — 41 41 552 1 17,848 18,401 1- 4 family — — 911 911 631 48 172,081 172,760 Multifamily — — 1,318 1,318 — — 42,918 42,918 Non-farm non-residential 1,152 — 3,619 4,771 4,881 2,301 579,081 586,263 Total Real Estate 1,190 — 6,432 7,622 6,368 2,350 936,268 944,986 Non-Real Estate: Agricultural — — 339 339 2,983 — 20,125 23,108 Commercial and industrial 110 — 1,799 1,909 1,088 909 198,880 200,877 Consumer and other — — 891 891 — — 59,443 59,443 Unallocated — — 15 15 — — — — Total Non-Real Estate 110 — 3,044 3,154 4,071 909 278,448 283,428 Total $ 1,300 $ — $ 9,476 $ 10,776 $ 10,439 $ 3,259 $ 1,214,716 1,228,414 Unearned Income (3,146 ) Total loans net of unearned income $ 1,225,268 |
Summary of Impaired Loans, Excluding Loans Acquired with Deteriorated Credit Quality, by Class | The following is a summary of impaired loans, excluding loans acquired with deteriorated credit quality, by class as of the date indicated: As of March 31, 2019 (in thousands) Recorded Unpaid Related Average Interest Income Interest Income Impaired Loans with no related allowance: Real Estate: Construction & land development $ — $ — $ — $ — $ — $ — Farmland — — — — — — 1- 4 family 1,238 1,238 — 1,283 12 20 Multifamily — — — — — — Non-farm non-residential — — — — — — Total Real Estate 1,238 1,238 — 1,283 12 20 Non-Real Estate: Agricultural 4,584 4,662 — 4,584 11 — Commercial and industrial — — — — — — Consumer and other — — — — — — Total Non-Real Estate 4,584 4,662 — 4,584 11 — Total Impaired Loans with no related allowance 5,822 5,900 — 5,867 23 20 Impaired Loans with an allowance recorded: Real Estate: Construction & land development — — — — — — Farmland — — — — — — 1- 4 family — — — — — — Multifamily — — — — — — Non-farm non-residential 6,132 6,132 1,697 6,141 73 30 Total Real Estate 6,132 6,132 1,697 6,141 73 30 Non-Real Estate: Agricultural — — — — — Commercial and industrial 1,059 1,059 104 1,069 11 16 Consumer and other — — — — — — Total Non-Real Estate 1,059 1,059 104 1,069 11 16 Total Impaired Loans with an allowance recorded 7,191 7,191 1,801 7,210 84 46 Total Impaired Loans $ 13,013 $ 13,091 $ 1,801 $ 13,077 $ 107 $ 66 |
Troubled Debt Restructurings | The following table identifies the TDRs as of March 31, 2019 and December 31, 2018 : March 31, 2019 December 31, 2018 Accruing Loans Accruing Loans (in thousands) Current 30-89 Days Nonaccrual Total TDRs Current 30-89 Days Nonaccrual Total TDRs Real Estate: Construction & land development $ — $ — $ — $ — $ — $ — $ 304 $ 304 Farmland — — — — — — — — 1- 4 Family — — — — — — — — Multifamily — — — — — — — — Non-farm non residential — — — — 1,288 — — 1,288 Total Real Estate — — — — 1,288 — 304 1,592 Non-Real Estate: Agricultural — — — — — — — — Commercial and industrial — — — — — — — — Consumer and other — — — — — — — — Total Non-Real Estate — — — — — — — — Total $ — $ — $ — $ — $ 1,288 $ — $ 304 $ 1,592 The following table discloses TDR activity for the three months ended March 31, 2019 . Troubled Debt Restructured Loans Activity (in thousands) Beginning balance New TDRs Charge-offs Transferred to ORE Paydowns Construction Restructured Other adjustments Ending balance Real Estate: Construction & land development $ 304 $ — $ — $ — $ — $ — $ (304 ) $ — $ — Farmland — — — — — — — — — 1 - 4 family — — — — — — — — — Multifamily — — — — — — — — — Non-farm non-residential 1,288 — — — — — (1,288 ) — — Total Real Estate 1,592 — — — — — (1,592 ) — — Non-Real Estate: Agricultural — — — — — — — — — Commercial and industrial — — — — — — — — — Consumer and other — — — — — — — — — Total Non-Real Estate — — — — — — — — — Total $ 1,592 $ — $ — $ — $ — $ — $ (1,592 ) — $ — |
Other Real Estate (ORE) (Tables
Other Real Estate (ORE) (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Real Estate [Abstract] | |
Other Real Estate Owned | Other real estate owned consists of the following at the dates indicated: (in thousands) March 31, 2019 December 31, 2018 Real Estate Owned Acquired by Foreclosure: Residential $ 135 $ 120 Construction & land development 219 241 Non-farm non-residential 766 777 Total Other Real Estate Owned and Foreclosed Property $ 1,120 $ 1,138 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [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, 2019 and December 31, 2018 : Contract Amount (in thousands) March 31, 2019 December 31, 2018 Commitments to Extend Credit $ 104,798 $ 108,348 Unfunded Commitments under lines of credit $ 145,155 $ 122,212 Commercial and Standby letters of credit $ 6,927 $ 6,912 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [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, 2019 and December 31, 2018 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) March 31, 2019 December 31, 2018 Available for Sale Securities Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ 489 $ 483 Level 2: Significant Other Observable Inputs 263,238 291,733 Level 3: Significant Unobservable Inputs 5,191 4,761 Securities available for sale measured at fair value $ 268,918 $ 296,977 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table reconciles assets measured at fair value on a recurring basis using unobservable inputs (Level 3) : Level 3 Changes (in thousands) March 31, 2019 Balance, beginning of year $ 4,761 Total gains or losses (realized/unrealized): Included in earnings — Included in other comprehensive income 72 Purchases, sales, issuances and settlements, net 358 Transfers in and/or out of Level 3 — Balance as of end of period $ 5,191 |
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, 2019 and December 31, 2018 , segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands) At March 31, 2019 At December 31, 2018 Impaired Loans - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ — $ — Level 2: Significant Other Observable Inputs — — Level 3: Significant Unobservable Inputs 6,112 3,620 Impaired loans measured at fair value $ 6,112 $ 3,620 Other Real Estate Owned - Fair Value Measurements Using: Level 1: Quoted Prices in Active Markets For Identical Assets $ — $ — Level 2: Significant Other Observable Inputs 456 1,012 Level 3: Significant Unobservable Inputs 947 126 Other real estate owned measured at fair value $ 1,403 $ 1,138 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Financial Instruments, Owned, at Fair Value [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, 2019 and December 31, 2018 are presented in the following table: March 31, 2019 December 31, 2018 (in thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Assets Cash and cash equivalents $ 166,151 $ 166,151 $ 127,965 $ 127,965 Securities, available for sale 268,918 268,918 296,977 296,977 Securities, held to maturity 105,878 104,126 108,326 104,840 Federal Home Loan Bank stock 2,407 2,407 2,393 2,393 Loans held for sale 537 590 344 379 Loans, net 1,287,155 1,266,724 1,214,492 1,193,886 Accrued interest receivable 7,707 7,707 6,716 6,716 Liabilities Deposits $ 1,711,149 $ 1,708,586 $ 1,629,622 $ 1,625,827 Borrowings 19,105 19,092 19,838 19,853 Junior subordinated debentures 14,709 14,741 14,700 14,537 Accrued interest payable 4,975 4,975 3,952 3,952 |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Details) - ASU 2016-02 $ in Millions | Jan. 01, 2019USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Operating lease right-of-use assets | $ 0.9 |
Operating lease liabilities | $ 0.9 |
Securities - Summary Comparison
Securities - Summary Comparison of Securities by Type (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Available for sale: | ||
Amortized Cost | $ 270,896 | $ 306,012 |
Gross Unrealized Gains | 1,658 | 1,192 |
Gross Unrealized Losses | (3,636) | (10,227) |
Fair Value | 268,918 | 296,977 |
Held to maturity: | ||
Amortized Cost | 105,878 | 108,326 |
Gross Unrealized Gains | 44 | 0 |
Gross Unrealized Losses | (1,796) | (3,486) |
Fair Value | 104,126 | 104,840 |
U.S. Treasuries | ||
Available for sale: | ||
Amortized Cost | 0 | 0 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 0 | 0 |
U.S. Government Agencies | ||
Available for sale: | ||
Amortized Cost | 122,621 | 146,911 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (1,852) | (5,522) |
Fair Value | 120,769 | 141,389 |
Corporate Debt Securities | ||
Available for sale: | ||
Amortized Cost | 74,221 | 76,310 |
Gross Unrealized Gains | 203 | 72 |
Gross Unrealized Losses | (1,256) | (3,504) |
Fair Value | 73,168 | 72,878 |
Mutual Funds or Other Equity Securities | ||
Available for sale: | ||
Amortized Cost | 489 | 483 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 489 | 483 |
Municipal Bonds | ||
Available for sale: | ||
Amortized Cost | 25,609 | 32,956 |
Gross Unrealized Gains | 1,271 | 1,120 |
Gross Unrealized Losses | (40) | (175) |
Fair Value | 26,840 | 33,901 |
Held to maturity: | ||
Amortized Cost | 5,160 | 5,227 |
Gross Unrealized Gains | 44 | 0 |
Gross Unrealized Losses | (9) | (101) |
Fair Value | 5,195 | 5,126 |
Collateralized Mortgage Obligations | ||
Available for sale: | ||
Amortized Cost | 875 | 918 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (6) | (14) |
Fair Value | 869 | 904 |
Mortgage-backed Securities | ||
Available for sale: | ||
Amortized Cost | 47,081 | 48,434 |
Gross Unrealized Gains | 184 | 0 |
Gross Unrealized Losses | (482) | (1,012) |
Fair Value | 46,783 | 47,422 |
Held to maturity: | ||
Amortized Cost | 72,546 | 74,927 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (1,263) | (2,304) |
Fair Value | 71,283 | 72,623 |
U.S. Government Agencies | ||
Held to maturity: | ||
Amortized Cost | 28,172 | 28,172 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (524) | (1,081) |
Fair Value | $ 27,648 | $ 27,091 |
Securities - Scheduled Maturiti
Securities - Scheduled Maturities of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Available for sale: Amortized Cost | ||
Due in one year or less | $ 3,353 | |
Due after one year through five years | 45,724 | |
Due after five years through 10 years | 157,926 | |
Over 10 years | 15,937 | |
Subtotal | 222,940 | |
Amortized Cost | 270,896 | $ 306,012 |
Available for sale: Amortized Cost | ||
Due in one year or less | 3,362 | |
Due after one year through five years | 45,627 | |
Due after five years through 10 years | 156,140 | |
Over 10 years | 16,137 | |
Subtotal | 221,266 | |
Fair value | 268,918 | 296,977 |
Held to maturity: Amortized Cost | ||
Due in one year or less | 50 | |
Due after one year through five years | 7,148 | |
Due after five years through 10 years | 17,519 | |
Over 10 years | 8,615 | |
Subtotal | 33,332 | |
Mortgage-backed securities | 72,546 | |
Amortized Cost | 105,878 | 108,326 |
Held to maturity: Fair Value | ||
Due in one year or less | 49 | |
Due after one year through five years | 7,041 | |
Due after five years through 10 years | 17,123 | |
Over 10 years | 8,630 | |
Subtotal | 32,843 | |
Mortgage-backed securities | 71,283 | |
Fair value | 104,126 | 104,840 |
Collateralized Mortgage Obligations | ||
Available for sale: Amortized Cost | ||
Without single maturity date | 875 | |
Amortized Cost | 875 | 918 |
Available for sale: Amortized Cost | ||
Without single maturity date | 869 | |
Fair value | 869 | 904 |
Mortgage-backed Securities | ||
Available for sale: Amortized Cost | ||
Without single maturity date | 47,081 | |
Amortized Cost | 47,081 | 48,434 |
Available for sale: Amortized Cost | ||
Without single maturity date | 46,783 | |
Fair value | 46,783 | 47,422 |
Held to maturity: Amortized Cost | ||
Amortized Cost | 72,546 | 74,927 |
Held to maturity: Fair Value | ||
Fair value | $ 71,283 | $ 72,623 |
Securities - Narrative (Details
Securities - Narrative (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019USD ($)security | Mar. 31, 2018USD ($) | |
Investments, Debt and Equity Securities [Abstract] | ||
Pledged securities as collateral for public fund deposits and borrowings | $ 287,200 | |
Pledged securities, market value | $ 285,500 | |
Number of debt securities with unrealized losses | security | 327 | |
Unrealized losses on debt securities in continuous loss position as percentage of total individual securities' amortized cost basis | 1.80% | |
Unrealized losses on debt securities in continuous loss position as percentage of amortized cost basis of investment securities portfolio | 1.40% | |
Number of debt securities in continuous loss position for over 12 months | security | 322 | |
Debt securities in a continuous loss position for over 12 months, amortized cost basis | $ 302,300 | |
Debt securities in a continuous loss position for over 12 months, unrealized loss | 5,200 | |
Other than temporary impairment losses | $ 0 | $ 0 |
Securities - Summary of Securit
Securities - Summary of Securities in Continuous Unrealized Loss Position (Details) $ in Thousands | Mar. 31, 2019USD ($)security | Dec. 31, 2018USD ($)security |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 5 | 55 |
Less than 12 months, fair value | $ 6,165 | $ 33,355 |
Less than 12 months, gross unrealized losses | $ (188) | $ (598) |
12 months or more, number of securities | security | 247 | 295 |
12 months or more, fair value | $ 197,363 | $ 233,348 |
12 months or more, gross unrealized losses | $ (3,448) | $ (9,629) |
Total, number of securities | security | 252 | 350 |
Total, fair value | $ 203,528 | $ 266,703 |
Total, gross unrealized losses | $ (3,636) | $ (10,227) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or more, number of securities | security | 75 | 79 |
12 months or more, fair value | $ 99,736 | $ 104,840 |
12 months or more, gross unrealized losses | $ (1,796) | $ (3,486) |
Total, number of securities | security | 75 | 79 |
Total, fair value | $ 99,736 | $ 104,840 |
Total, gross unrealized losses | $ (1,796) | $ (3,486) |
U.S. Treasuries | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or more, number of securities | security | 0 | 0 |
12 months or more, fair value | $ 0 | $ 0 |
12 months or more, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | security | 0 | 0 |
Total, fair value | $ 0 | $ 0 |
Total, gross unrealized losses | $ 0 | $ 0 |
U.S. Government Agencies | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 1 | 1 |
Less than 12 months, fair value | $ 4,347 | $ 4,227 |
Less than 12 months, gross unrealized losses | $ (152) | $ (273) |
12 months or more, number of securities | security | 42 | 50 |
12 months or more, fair value | $ 116,422 | $ 137,162 |
12 months or more, gross unrealized losses | $ (1,700) | $ (5,249) |
Total, number of securities | security | 43 | 51 |
Total, fair value | $ 120,769 | $ 141,389 |
Total, gross unrealized losses | $ (1,852) | $ (5,522) |
Corporate Debt Securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 4 | 37 |
Less than 12 months, fair value | $ 1,818 | $ 9,560 |
Less than 12 months, gross unrealized losses | $ (36) | $ (252) |
12 months or more, number of securities | security | 152 | 183 |
12 months or more, fair value | $ 50,303 | $ 58,877 |
12 months or more, gross unrealized losses | $ (1,220) | $ (3,252) |
Total, number of securities | security | 156 | 220 |
Total, fair value | $ 52,121 | $ 68,437 |
Total, gross unrealized losses | $ (1,256) | $ (3,504) |
Mutual Funds or Other Equity Securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or more, number of securities | security | 0 | 0 |
12 months or more, fair value | $ 0 | $ 0 |
12 months or more, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | security | 0 | 0 |
Total, fair value | $ 0 | $ 0 |
Total, gross unrealized losses | $ 0 | $ 0 |
Municipal Bonds | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 0 | 1 |
Less than 12 months, fair value | $ 0 | $ 115 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or more, number of securities | security | 11 | 19 |
12 months or more, fair value | $ 2,327 | $ 8,436 |
12 months or more, gross unrealized losses | $ (40) | $ (175) |
Total, number of securities | security | 11 | 20 |
Total, fair value | $ 2,327 | $ 8,551 |
Total, gross unrealized losses | $ (40) | $ (175) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or more, number of securities | security | 5 | 9 |
12 months or more, fair value | $ 806 | $ 5,126 |
12 months or more, gross unrealized losses | $ (9) | $ (101) |
Total, number of securities | security | 5 | 9 |
Total, fair value | $ 806 | $ 5,126 |
Total, gross unrealized losses | $ (9) | $ (101) |
Collateralized Mortgage Obligations | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or more, number of securities | security | 5 | 5 |
12 months or more, fair value | $ 869 | $ 904 |
12 months or more, gross unrealized losses | $ (6) | $ (14) |
Total, number of securities | security | 5 | 5 |
Total, fair value | $ 869 | $ 904 |
Total, gross unrealized losses | $ (6) | $ (14) |
Mortgage-backed Securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 0 | 16 |
Less than 12 months, fair value | $ 0 | $ 19,453 |
Less than 12 months, gross unrealized losses | $ 0 | $ (73) |
12 months or more, number of securities | security | 37 | 38 |
12 months or more, fair value | $ 27,442 | $ 27,969 |
12 months or more, gross unrealized losses | $ (482) | $ (939) |
Total, number of securities | security | 37 | 54 |
Total, fair value | $ 27,442 | $ 47,422 |
Total, gross unrealized losses | $ (482) | $ (1,012) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or more, number of securities | security | 56 | 56 |
12 months or more, fair value | $ 71,282 | $ 72,623 |
12 months or more, gross unrealized losses | $ (1,263) | $ (2,304) |
Total, number of securities | security | 56 | 56 |
Total, fair value | $ 71,282 | $ 72,623 |
Total, gross unrealized losses | $ (1,263) | $ (2,304) |
U.S. Government Agencies | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | security | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or more, number of securities | security | 14 | 14 |
12 months or more, fair value | $ 27,648 | $ 27,091 |
12 months or more, gross unrealized losses | $ (524) | $ (1,081) |
Total, number of securities | security | 14 | 14 |
Total, fair value | $ 27,648 | $ 27,091 |
Total, gross unrealized losses | $ (524) | $ (1,081) |
Securities - Other Than Tempora
Securities - Other Than Temporary Impairments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Beginning balance of credit losses at end of prior year | $ 60 | $ 60 |
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 | $ 60 |
Securities - Exposure to Bond I
Securities - Exposure to Bond Issuers that Exceeded 10% of Stockholders' Equity (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized Cost | $ 374,796 | $ 405,303 |
Stockholders' Equity, Total | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized Cost | 270,420 | |
Fair Value | 266,483 | |
Stockholders' Equity, Total | Federal Home Loan Bank (FHLB) | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized Cost | 40,401 | |
Fair Value | 39,833 | |
Stockholders' Equity, Total | Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized Cost | 44,287 | |
Fair Value | 43,789 | |
Stockholders' Equity, Total | Federal National Mortgage Association (Fannie Mae-FNMA) | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized Cost | 91,839 | |
Fair Value | 90,199 | |
Stockholders' Equity, Total | Federal Farm Credit Bank (FFCB) | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized Cost | 93,893 | |
Fair Value | $ 92,662 |
Loans - Components of Loan Port
Loans - Components of Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Balance | ||
Total Loans Before Unearned Income | $ 1,301,491 | $ 1,228,414 |
Unearned income | (3,335) | (3,146) |
Total Loans Net of Unearned Income | $ 1,298,156 | $ 1,225,268 |
As % of Category | ||
Percent of category | 100.00% | 100.00% |
Real Estate | ||
Balance | ||
Total Loans Before Unearned Income | $ 991,677 | $ 944,986 |
As % of Category | ||
Percent of category | 76.20% | 76.90% |
Real Estate | Construction & Land Development | ||
Balance | ||
Total Loans Before Unearned Income | $ 142,861 | $ 124,644 |
As % of Category | ||
Percent of category | 11.00% | 10.10% |
Real Estate | Farmland | ||
Balance | ||
Total Loans Before Unearned Income | $ 18,904 | $ 18,401 |
As % of Category | ||
Percent of category | 1.50% | 1.50% |
Real Estate | 1- 4 Family | ||
Balance | ||
Total Loans Before Unearned Income | $ 179,798 | $ 172,760 |
As % of Category | ||
Percent of category | 13.80% | 14.10% |
Real Estate | Multifamily | ||
Balance | ||
Total Loans Before Unearned Income | $ 42,186 | $ 42,918 |
As % of Category | ||
Percent of category | 3.20% | 3.50% |
Real Estate | Non-Farm Non-Residential | ||
Balance | ||
Total Loans Before Unearned Income | $ 607,928 | $ 586,263 |
As % of Category | ||
Percent of category | 46.70% | 47.70% |
Non-Real Estate | ||
Balance | ||
Total Loans Before Unearned Income | $ 309,814 | $ 283,428 |
As % of Category | ||
Percent of category | 23.80% | 23.10% |
Non-Real Estate | Agricultural | ||
Balance | ||
Total Loans Before Unearned Income | $ 21,465 | $ 23,108 |
As % of Category | ||
Percent of category | 1.70% | 1.90% |
Non-Real Estate | Commercial and Industrial | ||
Balance | ||
Total Loans Before Unearned Income | $ 210,187 | $ 200,877 |
As % of Category | ||
Percent of category | 16.10% | 16.40% |
Non-Real Estate | Consumer and Other | ||
Balance | ||
Total Loans Before Unearned Income | $ 78,162 | $ 59,443 |
As % of Category | ||
Percent of category | 6.00% | 4.80% |
Loans - Fixed and Floating Rate
Loans - Fixed and Floating Rate Loans by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing receivables, fixed and floating rate loans by contractual maturity [Abstract] | ||
One year or less | $ 196,534 | $ 189,055 |
More than one to five years | 734,049 | 681,081 |
More than five to 15 years | 211,104 | 205,494 |
Over 15 years | 146,809 | 144,041 |
Subtotal | 1,288,496 | 1,219,671 |
Nonaccrual loans | 12,995 | 8,743 |
Total Loans Before Unearned Income | 1,301,491 | 1,228,414 |
Unearned income | (3,335) | (3,146) |
Total Loans Net of Unearned Income | 1,298,156 | 1,225,268 |
Fixed Rate Loans | ||
Financing receivables, fixed and floating rate loans by contractual maturity [Abstract] | ||
One year or less | 118,973 | 108,160 |
More than one to five years | 417,700 | 393,344 |
More than five to 15 years | 124,245 | 118,715 |
Over 15 years | 91,129 | 85,611 |
Subtotal | 752,047 | 705,830 |
Floating Rate Loans | ||
Financing receivables, fixed and floating rate loans by contractual maturity [Abstract] | ||
One year or less | 77,561 | 80,895 |
More than one to five years | 316,349 | 287,737 |
More than five to 15 years | 86,859 | 86,779 |
Over 15 years | 55,680 | 58,430 |
Subtotal | 536,449 | 513,841 |
Loans at interest rate floor | $ 34,000 | $ 27,700 |
Loans - Receivables Past Due (D
Loans - Receivables Past Due (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | $ 22,533 | $ 21,509 |
Current | 1,278,958 | 1,206,905 |
Total Loans Before Unearned Income | 1,301,491 | 1,228,414 |
Recorded Investment 90 Days Accruing | 613 | 145 |
Unearned income | (3,335) | (3,146) |
Total Loans Net of Unearned Income | 1,298,156 | 1,225,268 |
30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 8,925 | 12,621 |
90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 13,608 | 8,888 |
Real Estate | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 15,977 | 15,554 |
Current | 975,700 | 929,432 |
Total Loans Before Unearned Income | 991,677 | 944,986 |
Recorded Investment 90 Days Accruing | 363 | 26 |
Real Estate | 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 7,835 | 10,814 |
Real Estate | 90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 8,142 | 4,740 |
Real Estate | Construction & Land Development | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 927 | 1,247 |
Current | 141,934 | 123,397 |
Total Loans Before Unearned Income | 142,861 | 124,644 |
Recorded Investment 90 Days Accruing | 0 | 0 |
Real Estate | Construction & Land Development | 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 622 | 936 |
Real Estate | Construction & Land Development | 90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 305 | 311 |
Real Estate | Farmland | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 1,286 | 1,293 |
Current | 17,618 | 17,108 |
Total Loans Before Unearned Income | 18,904 | 18,401 |
Recorded Investment 90 Days Accruing | 0 | 0 |
Real Estate | Farmland | 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 0 | 0 |
Real Estate | Farmland | 90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 1,286 | 1,293 |
Real Estate | 1- 4 Family | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 4,831 | 6,605 |
Current | 174,967 | 166,155 |
Total Loans Before Unearned Income | 179,798 | 172,760 |
Recorded Investment 90 Days Accruing | 363 | 26 |
Real Estate | 1- 4 Family | 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 1,930 | 4,333 |
Real Estate | 1- 4 Family | 90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 2,901 | 2,272 |
Real Estate | Multifamily | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 815 | 648 |
Current | 41,371 | 42,270 |
Total Loans Before Unearned Income | 42,186 | 42,918 |
Recorded Investment 90 Days Accruing | 0 | 0 |
Real Estate | Multifamily | 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 815 | 648 |
Real Estate | Multifamily | 90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 0 | 0 |
Real Estate | Non-Farm Non-Residential | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 8,118 | 5,761 |
Current | 599,810 | 580,502 |
Total Loans Before Unearned Income | 607,928 | 586,263 |
Recorded Investment 90 Days Accruing | 0 | 0 |
Real Estate | Non-Farm Non-Residential | 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 4,468 | 4,897 |
Real Estate | Non-Farm Non-Residential | 90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 3,650 | 864 |
Non-Real Estate | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 6,556 | 5,955 |
Current | 303,258 | 277,473 |
Total Loans Before Unearned Income | 309,814 | 283,428 |
Recorded Investment 90 Days Accruing | 250 | 119 |
Non-Real Estate | 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 1,090 | 1,807 |
Non-Real Estate | 90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 5,466 | 4,148 |
Non-Real Estate | Agricultural | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 5,179 | 4,179 |
Current | 16,286 | 18,929 |
Total Loans Before Unearned Income | 21,465 | 23,108 |
Recorded Investment 90 Days Accruing | 0 | 0 |
Non-Real Estate | Agricultural | 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 263 | 528 |
Non-Real Estate | Agricultural | 90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 4,916 | 3,651 |
Non-Real Estate | Commercial and Industrial | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 836 | 1,112 |
Current | 209,351 | 199,765 |
Total Loans Before Unearned Income | 210,187 | 200,877 |
Recorded Investment 90 Days Accruing | 135 | 53 |
Non-Real Estate | Commercial and Industrial | 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 451 | 742 |
Non-Real Estate | Commercial and Industrial | 90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 385 | 370 |
Non-Real Estate | Consumer and Other | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 541 | 664 |
Current | 77,621 | 58,779 |
Total Loans Before Unearned Income | 78,162 | 59,443 |
Recorded Investment 90 Days Accruing | 115 | 66 |
Non-Real Estate | Consumer and Other | 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | 376 | 537 |
Non-Real Estate | Consumer and Other | 90 Days or Greater | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total Past Due | $ 165 | $ 127 |
Loans - Nonaccrual Loans (Detai
Loans - Nonaccrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | $ 12,995 | $ 8,743 |
Real Estate | ||
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | 7,779 | 4,714 |
Real Estate | Construction & Land Development | ||
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | 305 | 311 |
Real Estate | Farmland | ||
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | 1,286 | 1,293 |
Real Estate | 1- 4 Family | ||
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | 2,538 | 2,246 |
Real Estate | Multifamily | ||
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | 0 | 0 |
Real Estate | Non-Farm Non-Residential | ||
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | 3,650 | 864 |
Non-Real Estate | ||
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | 5,216 | 4,029 |
Non-Real Estate | Agricultural | ||
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | 4,916 | 3,651 |
Non-Real Estate | Commercial and Industrial | ||
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | 250 | 317 |
Non-Real Estate | Consumer and Other | ||
Summary of nonaccrual loans by class [Abstract] | ||
Nonaccrual loans | $ 50 | $ 61 |
Loans - Credit Exposure of Port
Loans - Credit Exposure of Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | $ 1,301,491 | $ 1,228,414 |
Unearned income | (3,335) | (3,146) |
Total Loans Net of Unearned Income | 1,298,156 | 1,225,268 |
Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 1,218,061 | 1,154,686 |
Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 35,804 | 26,413 |
Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 47,626 | 46,792 |
Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 523 |
Real Estate | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 991,677 | 944,986 |
Real Estate | Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 936,646 | 890,341 |
Real Estate | Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 16,470 | 15,289 |
Real Estate | Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 38,561 | 38,833 |
Real Estate | Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 523 |
Real Estate | Construction & Land Development | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 142,861 | 124,644 |
Real Estate | Construction & Land Development | Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 133,441 | 116,062 |
Real Estate | Construction & Land Development | Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 6,570 | 5,698 |
Real Estate | Construction & Land Development | Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 2,850 | 2,884 |
Real Estate | Construction & Land Development | Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 0 |
Real Estate | Farmland | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 18,904 | 18,401 |
Real Estate | Farmland | Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 13,687 | 13,151 |
Real Estate | Farmland | Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 3,863 | 3,888 |
Real Estate | Farmland | Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 1,354 | 1,362 |
Real Estate | Farmland | Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 0 |
Real Estate | 1- 4 Family | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 179,798 | 172,760 |
Real Estate | 1- 4 Family | Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 167,788 | 160,581 |
Real Estate | 1- 4 Family | Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 2,709 | 2,815 |
Real Estate | 1- 4 Family | Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 9,301 | 9,364 |
Real Estate | 1- 4 Family | Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 0 |
Real Estate | Multifamily | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 42,186 | 42,918 |
Real Estate | Multifamily | Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 34,872 | 35,554 |
Real Estate | Multifamily | Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 0 |
Real Estate | Multifamily | Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 7,314 | 7,364 |
Real Estate | Multifamily | Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 0 |
Real Estate | Non-Farm Non-Residential | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 607,928 | 586,263 |
Real Estate | Non-Farm Non-Residential | Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 586,858 | 564,993 |
Real Estate | Non-Farm Non-Residential | Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 3,328 | 2,888 |
Real Estate | Non-Farm Non-Residential | Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 17,742 | 17,859 |
Real Estate | Non-Farm Non-Residential | Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 523 |
Non-Real Estate | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 309,814 | 283,428 |
Non-Real Estate | Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 281,415 | 264,345 |
Non-Real Estate | Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 19,334 | 11,124 |
Non-Real Estate | Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 9,065 | 7,959 |
Non-Real Estate | Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 0 |
Non-Real Estate | Agricultural | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 21,465 | 23,108 |
Non-Real Estate | Agricultural | Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 16,140 | 19,050 |
Non-Real Estate | Agricultural | Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 43 | 43 |
Non-Real Estate | Agricultural | Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 5,282 | 4,015 |
Non-Real Estate | Agricultural | Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 0 |
Non-Real Estate | Commercial and Industrial | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 210,187 | 200,877 |
Non-Real Estate | Commercial and Industrial | Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 187,419 | 186,176 |
Non-Real Estate | Commercial and Industrial | Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 19,136 | 10,930 |
Non-Real Estate | Commercial and Industrial | Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 3,632 | 3,771 |
Non-Real Estate | Commercial and Industrial | Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 0 | 0 |
Non-Real Estate | Consumer and Other | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 78,162 | 59,443 |
Non-Real Estate | Consumer and Other | Pass | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 77,856 | 59,119 |
Non-Real Estate | Consumer and Other | Special Mention | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 155 | 151 |
Non-Real Estate | Consumer and Other | Substandard | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | 151 | 173 |
Non-Real Estate | Consumer and Other | Doubtful | ||
Credit exposure of loan portfolio by specific credit ratings [Abstract] | ||
Loans before unearned income | $ 0 | $ 0 |
Loans - Purchased Impaired Loan
Loans - Purchased Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | $ 3,238 | $ 3,259 | |
Purchased impaired loans | |||
Balance, beginning of period | 613 | $ 1,031 | |
Acquisition accretable yield | 0 | 0 | |
Accretion | (50) | (65) | |
Net transfers from nonaccretable difference to accretable yield | 0 | 0 | |
Balance, end of period | 563 | $ 966 | |
Real Estate | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | 2,335 | 2,350 | |
Real Estate | Construction & Land Development | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | 0 | 0 | |
Real Estate | Farmland | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | 0 | 1 | |
Real Estate | 1- 4 Family | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | 47 | 48 | |
Real Estate | Multifamily | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | 0 | 0 | |
Real Estate | Non-Farm Non-Residential | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | 2,288 | 2,301 | |
Non-Real Estate | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | 903 | 909 | |
Non-Real Estate | Agricultural | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | 0 | 0 | |
Non-Real Estate | Commercial and Industrial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | 903 | 909 | |
Non-Real Estate | Consumer and Other | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | |||
Carry amount | $ 0 | $ 0 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Changes in Allowance for Loan Losses, by Portfolio Type (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | $ 10,776 | $ 9,225 |
Charge-offs | (636) | (195) |
Recoveries | 74 | 153 |
Provision for Loan and Lease Losses | 787 | 605 |
Ending allowance | 11,001 | 9,788 |
Real Estate | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 7,622 | 5,516 |
Charge-offs | (16) | (97) |
Recoveries | 5 | 94 |
Provision for Loan and Lease Losses | 83 | 1,036 |
Ending allowance | 7,694 | 6,549 |
Real Estate | Construction & Land Development | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 581 | 628 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 1 |
Provision for Loan and Lease Losses | 19 | (60) |
Ending allowance | 600 | 569 |
Real Estate | Farmland | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 41 | 5 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision for Loan and Lease Losses | 3 | 21 |
Ending allowance | 44 | 26 |
Real Estate | 1- 4 Family | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 911 | 1,078 |
Charge-offs | (16) | (97) |
Recoveries | 2 | 80 |
Provision for Loan and Lease Losses | (18) | (157) |
Ending allowance | 879 | 904 |
Real Estate | Multifamily | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 1,318 | 994 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 10 |
Provision for Loan and Lease Losses | 10 | 510 |
Ending allowance | 1,328 | 1,514 |
Real Estate | Non-Farm Non-Residential | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 4,771 | 2,811 |
Charge-offs | 0 | 0 |
Recoveries | 3 | 3 |
Provision for Loan and Lease Losses | 69 | 722 |
Ending allowance | 4,843 | 3,536 |
Non-Real Estate | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 3,154 | 3,709 |
Charge-offs | (620) | (98) |
Recoveries | 69 | 59 |
Provision for Loan and Lease Losses | 704 | (431) |
Ending allowance | 3,307 | 3,239 |
Non-Real Estate | Agricultural | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 339 | 187 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 11 |
Provision for Loan and Lease Losses | 15 | 94 |
Ending allowance | 354 | 292 |
Non-Real Estate | Commercial and Industrial | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 1,909 | 2,377 |
Charge-offs | (246) | 0 |
Recoveries | 8 | 10 |
Provision for Loan and Lease Losses | 305 | (453) |
Ending allowance | 1,976 | 1,934 |
Non-Real Estate | Consumer and Other | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 891 | 1,125 |
Charge-offs | (374) | (98) |
Recoveries | 61 | 38 |
Provision for Loan and Lease Losses | 370 | (58) |
Ending allowance | 948 | 1,007 |
Non-Real Estate | Unallocated | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning allowance | 15 | 20 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision for Loan and Lease Losses | 14 | (14) |
Ending allowance | $ 29 | $ 6 |
Allowance for Loan Losses - S_2
Allowance for Loan Losses - Summary of Allowance and Loans Individually and Collectively Evaluated for Impairment (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | $ 1,801 | $ 1,300 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 9,200 | 9,476 | ||
Total Allowance for Credit Losses | 11,001 | 10,776 | $ 9,788 | $ 9,225 |
Loans Individually Evaluated for Impairment | 13,013 | 10,439 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 3,238 | 3,259 | ||
Loans Collectively Evaluated for Impairment | 1,285,240 | 1,214,716 | ||
Total Loans Before Unearned Income | 1,301,491 | 1,228,414 | ||
Unearned income | (3,335) | (3,146) | ||
Total Loans Net of Unearned Income | 1,298,156 | 1,225,268 | ||
Real Estate | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 1,697 | 1,190 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 5,997 | 6,432 | ||
Total Allowance for Credit Losses | 7,694 | 7,622 | 6,549 | 5,516 |
Loans Individually Evaluated for Impairment | 7,922 | 6,368 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 2,335 | 2,350 | ||
Loans Collectively Evaluated for Impairment | 981,420 | 936,268 | ||
Total Loans Before Unearned Income | 991,677 | 944,986 | ||
Real Estate | Construction & Land Development | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 0 | 38 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 600 | 543 | ||
Total Allowance for Credit Losses | 600 | 581 | 569 | 628 |
Loans Individually Evaluated for Impairment | 0 | 304 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Loans Collectively Evaluated for Impairment | 142,861 | 124,340 | ||
Total Loans Before Unearned Income | 142,861 | 124,644 | ||
Real Estate | Farmland | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 0 | 0 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 44 | 41 | ||
Total Allowance for Credit Losses | 44 | 41 | 26 | 5 |
Loans Individually Evaluated for Impairment | 552 | 552 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 0 | 1 | ||
Loans Collectively Evaluated for Impairment | 18,352 | 17,848 | ||
Total Loans Before Unearned Income | 18,904 | 18,401 | ||
Real Estate | 1- 4 Family | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 0 | 0 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 879 | 911 | ||
Total Allowance for Credit Losses | 879 | 911 | 904 | 1,078 |
Loans Individually Evaluated for Impairment | 1,238 | 631 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 47 | 48 | ||
Loans Collectively Evaluated for Impairment | 178,513 | 172,081 | ||
Total Loans Before Unearned Income | 179,798 | 172,760 | ||
Real Estate | Multifamily | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 0 | 0 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 1,328 | 1,318 | ||
Total Allowance for Credit Losses | 1,328 | 1,318 | 1,514 | 994 |
Loans Individually Evaluated for Impairment | 0 | 0 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Loans Collectively Evaluated for Impairment | 42,186 | 42,918 | ||
Total Loans Before Unearned Income | 42,186 | 42,918 | ||
Real Estate | Non-Farm Non-Residential | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 1,697 | 1,152 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 3,146 | 3,619 | ||
Total Allowance for Credit Losses | 4,843 | 4,771 | 3,536 | 2,811 |
Loans Individually Evaluated for Impairment | 6,132 | 4,881 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 2,288 | 2,301 | ||
Loans Collectively Evaluated for Impairment | 599,508 | 579,081 | ||
Total Loans Before Unearned Income | 607,928 | 586,263 | ||
Non-Real Estate | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 104 | 110 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 3,203 | 3,044 | ||
Total Allowance for Credit Losses | 3,307 | 3,154 | 3,239 | 3,709 |
Loans Individually Evaluated for Impairment | 5,091 | 4,071 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 903 | 909 | ||
Loans Collectively Evaluated for Impairment | 303,820 | 278,448 | ||
Total Loans Before Unearned Income | 309,814 | 283,428 | ||
Non-Real Estate | Agricultural | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 0 | 0 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 354 | 339 | ||
Total Allowance for Credit Losses | 354 | 339 | 292 | 187 |
Loans Individually Evaluated for Impairment | 4,032 | 2,983 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Loans Collectively Evaluated for Impairment | 17,433 | 20,125 | ||
Total Loans Before Unearned Income | 21,465 | 23,108 | ||
Non-Real Estate | Commercial and Industrial | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 104 | 110 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 1,872 | 1,799 | ||
Total Allowance for Credit Losses | 1,976 | 1,909 | 1,934 | 2,377 |
Loans Individually Evaluated for Impairment | 1,059 | 1,088 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 903 | 909 | ||
Loans Collectively Evaluated for Impairment | 208,225 | 198,880 | ||
Total Loans Before Unearned Income | 210,187 | 200,877 | ||
Non-Real Estate | Consumer and Other | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 0 | 0 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 948 | 891 | ||
Total Allowance for Credit Losses | 948 | 891 | 1,007 | 1,125 |
Loans Individually Evaluated for Impairment | 0 | 0 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Loans Collectively Evaluated for Impairment | 78,162 | 59,443 | ||
Total Loans Before Unearned Income | 78,162 | 59,443 | ||
Non-Real Estate | Unallocated | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Allowance Individually Evaluated for Impairment | 0 | 0 | ||
Allowance Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Allowance Collectively Evaluated for Impairment | 29 | 15 | ||
Total Allowance for Credit Losses | 29 | 15 | $ 6 | $ 20 |
Loans Individually Evaluated for Impairment | 0 | 0 | ||
Loans Individually Evaluated for Purchased Credit-Impairment | 0 | 0 | ||
Loans Collectively Evaluated for Impairment | 0 | 0 | ||
Total Loans Before Unearned Income | $ 0 | $ 0 |
Allowance for Loan Losses - Imp
Allowance for Loan Losses - Impaired Loans by Class (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Impaired Loans with no related allowance: | ||
Recorded Investment | $ 5,822 | $ 4,689 |
Unpaid Principal Balance | 5,900 | 4,767 |
Average Recorded Investment | 5,867 | 4,745 |
Interest Income Recognized | 23 | 219 |
Interest Income Cash Basis | 20 | 306 |
Impaired Loans with an allowance recorded: | ||
Recorded Investment | 7,191 | 4,158 |
Unpaid Principal Balance | 7,191 | 4,158 |
Related Allowance | 1,801 | 1,260 |
Average Recorded Investment | 7,210 | 4,219 |
Interest Income Recognized | 84 | 194 |
Interest Income Cash Basis | 46 | 203 |
Total Impaired Loans [Abstract] | ||
Recorded Investment | 13,013 | 8,847 |
Unpaid Principal Balance | 13,091 | 8,925 |
Related Allowance | 1,801 | 1,260 |
Average Recorded Investment | 13,077 | 8,964 |
Interest Income Recognized | 107 | 413 |
Interest Income Cash Basis | 66 | 509 |
Real Estate | ||
Impaired Loans with no related allowance: | ||
Recorded Investment | 1,238 | 1,154 |
Unpaid Principal Balance | 1,238 | 1,154 |
Average Recorded Investment | 1,283 | 1,162 |
Interest Income Recognized | 12 | 46 |
Interest Income Cash Basis | 20 | 34 |
Impaired Loans with an allowance recorded: | ||
Recorded Investment | 6,132 | 3,070 |
Unpaid Principal Balance | 6,132 | 3,070 |
Related Allowance | 1,697 | 1,150 |
Average Recorded Investment | 6,141 | 3,104 |
Interest Income Recognized | 73 | 139 |
Interest Income Cash Basis | 30 | 139 |
Total Impaired Loans [Abstract] | ||
Related Allowance | 1,697 | 1,150 |
Real Estate | Construction & Land Development | ||
Impaired Loans with no related allowance: | ||
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: | ||
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 | Farmland | ||
Impaired Loans with no related allowance: | ||
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: | ||
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 | 1- 4 Family | ||
Impaired Loans with no related allowance: | ||
Recorded Investment | 1,238 | 631 |
Unpaid Principal Balance | 1,238 | 631 |
Average Recorded Investment | 1,283 | 626 |
Interest Income Recognized | 12 | 13 |
Interest Income Cash Basis | 20 | 0 |
Impaired Loans with an allowance recorded: | ||
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 | Multifamily | ||
Impaired Loans with no related allowance: | ||
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: | ||
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 | Non-Farm Non-Residential | ||
Impaired Loans with no related allowance: | ||
Recorded Investment | 0 | 523 |
Unpaid Principal Balance | 0 | 523 |
Average Recorded Investment | 0 | 536 |
Interest Income Recognized | 0 | 33 |
Interest Income Cash Basis | 0 | 34 |
Impaired Loans with an allowance recorded: | ||
Recorded Investment | 6,132 | 3,070 |
Unpaid Principal Balance | 6,132 | 3,070 |
Related Allowance | 1,697 | 1,150 |
Average Recorded Investment | 6,141 | 3,104 |
Interest Income Recognized | 73 | 139 |
Interest Income Cash Basis | 30 | 139 |
Total Impaired Loans [Abstract] | ||
Related Allowance | 1,697 | 1,150 |
Non-Real Estate | ||
Impaired Loans with no related allowance: | ||
Recorded Investment | 4,584 | 3,535 |
Unpaid Principal Balance | 4,662 | 3,613 |
Average Recorded Investment | 4,584 | 3,583 |
Interest Income Recognized | 11 | 173 |
Interest Income Cash Basis | 0 | 272 |
Impaired Loans with an allowance recorded: | ||
Recorded Investment | 1,059 | 1,088 |
Unpaid Principal Balance | 1,059 | 1,088 |
Related Allowance | 104 | 110 |
Average Recorded Investment | 1,069 | 1,115 |
Interest Income Recognized | 11 | 55 |
Interest Income Cash Basis | 16 | 64 |
Total Impaired Loans [Abstract] | ||
Related Allowance | 104 | 110 |
Non-Real Estate | Agricultural | ||
Impaired Loans with no related allowance: | ||
Recorded Investment | 4,584 | 3,535 |
Unpaid Principal Balance | 4,662 | 3,613 |
Average Recorded Investment | 4,584 | 3,583 |
Interest Income Recognized | 11 | 173 |
Interest Income Cash Basis | 0 | 272 |
Impaired Loans with an allowance recorded: | ||
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | |
Interest Income Recognized | 0 | 0 |
Interest Income Cash Basis | 0 | 0 |
Total Impaired Loans [Abstract] | ||
Related Allowance | 0 | 0 |
Non-Real Estate | Commercial and Industrial | ||
Impaired Loans with no related allowance: | ||
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: | ||
Recorded Investment | 1,059 | 1,088 |
Unpaid Principal Balance | 1,059 | 1,088 |
Related Allowance | 104 | 110 |
Average Recorded Investment | 1,069 | 1,115 |
Interest Income Recognized | 11 | 55 |
Interest Income Cash Basis | 16 | 64 |
Total Impaired Loans [Abstract] | ||
Related Allowance | 104 | 110 |
Non-Real Estate | Consumer and Other | ||
Impaired Loans with no related allowance: | ||
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: | ||
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 |
Allowance for Loan Losses - Age
Allowance for Loan Losses - Age Analysis of TDRs (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Troubled debt restructurings [Abstract] | ||
Total TDRs | $ 0 | $ 1,592 |
Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 304 |
Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 1,288 |
30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 1,592 |
Real Estate | Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 304 |
Real Estate | Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 1,288 |
Real Estate | 30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Construction & Land Development | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 304 |
Real Estate | Construction & Land Development | Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 304 |
Real Estate | Construction & Land Development | Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Construction & Land Development | 30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Farmland | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Farmland | Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Farmland | Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Farmland | 30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | 1- 4 Family | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | 1- 4 Family | Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | 1- 4 Family | Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | 1- 4 Family | 30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Multifamily | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Multifamily | Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Multifamily | Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Multifamily | 30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Non-Farm Non-Residential | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 1,288 |
Real Estate | Non-Farm Non-Residential | Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate | Non-Farm Non-Residential | Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 1,288 |
Real Estate | Non-Farm Non-Residential | 30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | 30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Agricultural | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Agricultural | Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Agricultural | Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Agricultural | 30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Commercial and Industrial | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Commercial and Industrial | Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Commercial and Industrial | Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Commercial and Industrial | 30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Consumer and Other | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Consumer and Other | Nonaccrual | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Consumer and Other | Current and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Non-Real Estate | Consumer and Other | 30-89 Days Past Due and Still Accruing | ||
Troubled debt restructurings [Abstract] | ||
Total TDRs | $ 0 | $ 0 |
Allowance for Loan Losses - TDR
Allowance for Loan Losses - TDR Activity (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
TDR activity [Roll Forward] | |
Beginning balance | $ 1,592 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | (1,592) |
Other adjustments | 0 |
Ending balance | 0 |
Real Estate | |
TDR activity [Roll Forward] | |
Beginning balance | 1,592 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | (1,592) |
Other adjustments | 0 |
Ending balance | 0 |
Real Estate | Construction & Land Development | |
TDR activity [Roll Forward] | |
Beginning balance | 304 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | (304) |
Other adjustments | 0 |
Ending balance | 0 |
Real Estate | Farmland | |
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 | 1- 4 Family | |
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 | Multifamily | |
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 | Non-Farm Non-Residential | |
TDR activity [Roll Forward] | |
Beginning balance | 1,288 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | (1,288) |
Other adjustments | 0 |
Ending balance | 0 |
Non-Real Estate | |
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 | Agricultural | |
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 | Commercial and Industrial | |
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 | Consumer and Other | |
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 Intangible_2
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill | $ 3,472 | $ 3,472 |
Impairment charges recognized on the Company's intangible assets | 0 | |
Increase (decrease) in loan servicing assets | (100) | |
Loan servicing assets | $ 800 | |
Core Deposits | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-average amortization period | 9 years 3 months 18 days |
Other Real Estate (ORE) (Detail
Other Real Estate (ORE) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Real Estate Owned Acquired by Foreclosure: | ||
Residential | $ 135 | $ 120 |
Construction & land development | 219 | 241 |
Non-farm non-residential | 766 | 777 |
Total Other Real Estate Owned and Foreclosed Property | 1,120 | $ 1,138 |
Loans secured by one to four family residential properties in the process of foreclosure | $ 800 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Commitments to Extend Credit | ||
Off-balance sheet commitments [Abstract] | ||
Notional value | $ 104,798 | $ 108,348 |
Unfunded Commitments under lines of credit | ||
Off-balance sheet commitments [Abstract] | ||
Notional value | 145,155 | 122,212 |
Commercial and Standby letters of credit | ||
Off-balance sheet commitments [Abstract] | ||
Notional value | $ 6,927 | $ 6,912 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale measured at fair value | $ 268,918 | $ 296,977 |
Level 1 to Level 2 transfers | 0 | |
Level 2 to Level 1 transfers | 0 | |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale measured at fair value | 268,918 | 296,977 |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale measured at fair value | 489 | 483 |
Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale measured at fair value | 263,238 | 291,733 |
Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale measured at fair value | $ 5,191 | $ 4,761 |
Fair Value Measurements - Unobs
Fair Value Measurements - Unobservable Input Reconciliation (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Reconciliation assets measured at fair value on a recurring basis using unobservable inputs (Level 3) [Roll Forward] | |
Balance, beginning of year | $ 4,761 |
Included in earnings | 0 |
Included in other comprehensive income | 72 |
Purchases, sales, issuances and settlements, net | 358 |
Transfers in and/or out of Level 3 | 0 |
Balance as of end of period | $ 5,191 |
Fair Value Measurements - Nonre
Fair Value Measurements - Nonrecurring (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans measured at fair value | $ 6,112 | $ 3,620 |
Other real estate owned measured at fair value | 1,403 | 1,138 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans measured at fair value | 0 | 0 |
Other real estate owned measured at fair value | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans measured at fair value | 0 | 0 |
Other real estate owned measured at fair value | 456 | 1,012 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans measured at fair value | 6,112 | 3,620 |
Other real estate owned measured at fair value | $ 947 | $ 126 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Securities, available for sale | $ 268,918 | $ 296,977 |
Held to maturity, estimated fair value | 104,126 | 104,840 |
Accrued interest receivable | 7,707 | 6,716 |
Carrying Value | ||
Assets | ||
Cash and cash equivalents | 166,151 | 127,965 |
Securities, available for sale | 268,918 | 296,977 |
Held to maturity, estimated fair value | 105,878 | 108,326 |
Federal Home Loan Bank stock | 2,407 | 2,393 |
Loans held for sale | 537 | 344 |
Loans, net | 1,287,155 | 1,214,492 |
Accrued interest receivable | 7,707 | 6,716 |
Liabilities | ||
Deposits | 1,711,149 | 1,629,622 |
Borrowings | 19,105 | 19,838 |
Junior subordinated debentures | 14,709 | 14,700 |
Accrued interest payable | 4,975 | 3,952 |
Estimated Fair Value | ||
Assets | ||
Cash and cash equivalents | 166,151 | 127,965 |
Securities, available for sale | 268,918 | 296,977 |
Held to maturity, estimated fair value | 104,126 | 104,840 |
Federal Home Loan Bank stock | 2,407 | 2,393 |
Loans held for sale | 590 | 379 |
Loans, net | 1,266,724 | 1,193,886 |
Accrued interest receivable | 7,707 | 6,716 |
Liabilities | ||
Deposits | 1,708,586 | 1,625,827 |
Borrowings | 19,092 | 19,853 |
Junior subordinated debentures | 14,741 | 14,537 |
Accrued interest payable | $ 4,975 | $ 3,952 |