Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | May. 11, 2016 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Oak Valley Bancorp | |
Trading Symbol | ovly | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 8,088,155 | |
Amendment Flag | false | |
Entity Central Index Key | 1,431,567 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 154,033 | $ 174,778 |
Federal funds sold | 5,535 | 15,825 |
Cash and cash equivalents | 159,568 | 190,603 |
Securities available for sale | 144,261 | 131,546 |
Loans, net of allowance for loan loss of $7,557 and $7,356 at March 31, 2016 and December 31, 2015, respectively | 557,573 | 530,394 |
Bank premises and equipment, net | 14,037 | 14,277 |
Other real estate owned | 2,066 | 2,066 |
Interest receivable and other assets | 28,245 | 28,152 |
Total assets | 905,750 | 897,038 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Deposits | 822,440 | 814,691 |
Interest payable and other liabilities | 4,350 | 4,084 |
Total liabilities | 826,790 | 818,775 |
Shareholders’ equity | ||
Common stock, no par value; 50,000,000 shares authorized, 8,088,155 and 8,078,155 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively | 24,682 | 24,682 |
Additional paid-in capital | 3,280 | 3,217 |
Retained earnings | 49,334 | 48,795 |
Accumulated other comprehensive income, net of tax | 1,664 | 1,569 |
Total shareholders’ equity | 78,960 | 78,263 |
Total liabilities and shareholders' equity | $ 905,750 | $ 897,038 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Net of allowance for loan loss (in Dollars) | $ 7,557 | $ 7,356 |
Common stock, par value (in Dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 8,088,155 | 8,078,155 |
Common stock, shares outstanding | 8,088,155 | 8,078,155 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
INTEREST INCOME | ||
Interest and fees on loans | $ 6,548 | $ 5,403 |
Interest on securities available for sale | 977 | 875 |
Interest on federal funds sold | 9 | 7 |
Interest on deposits with banks | 176 | 67 |
Total interest income | 7,710 | 6,352 |
INTEREST EXPENSE | ||
Deposits | 168 | 151 |
Total interest expense | 168 | 151 |
Net interest income | 7,542 | 6,201 |
Provision for (reversal of ) loan losses | 200 | (125) |
Net interest income after provision for (reversal of) loan losses | 7,342 | 6,326 |
OTHER INCOME | ||
Service charges on deposits | 333 | 312 |
Earnings on cash surrender value of life insurance | 108 | 108 |
Mortgage commissions | 46 | 45 |
Net gain on sales and calls of securities | 6 | 109 |
Other | 544 | 453 |
Total non-interest income | 1,037 | 1,027 |
OTHER EXPENSES | ||
Salaries and employee benefits | 3,355 | 2,983 |
Occupancy expenses | 838 | 747 |
Data processing fees | 471 | 353 |
Regulatory assessments (FDIC & DBO) | 157 | 114 |
Other operating expenses | 1,366 | 902 |
Total non-interest expense | 6,187 | 5,099 |
Net income before provision for income taxes | 2,192 | 2,254 |
PROVISION FOR INCOME TAXES | 683 | 728 |
NET INCOME | $ 1,509 | $ 1,526 |
NET INCOME PER COMMON SHARE (in Dollars per share) | $ 0.19 | $ 0.19 |
NET INCOME PER DILUTED COMMON SHARE (in Dollars per share) | $ 0.19 | $ 0.19 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Net income | $ 1,509 | $ 1,526 |
Other comprehensive income: | ||
Unrealized holding gains on securities arising during the current period, net of tax effect of $69 thousand and $41 thousand for the periods ending March 31, 2016 and 2015, respectively | 99 | 59 |
Reclassification adjustment due to net gains realized on calls of securities, net of tax effect of $2 thousand and $45 thousand for March 31, 2016 and 2015, respectively | (4) | (64) |
Other comprehensive income (loss) | 95 | (5) |
Comprehensive income | $ 1,604 | $ 1,521 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Tax effect of unrealized holding (losses) gains on securities arising during the current period | $ 69 | $ 41 |
Tax effect of reclassification adjustment due to net gains realized on calls of securities | $ 2 | $ 45 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances at Dec. 31, 2014 | $ 24,682 | $ 2,910 | $ 45,582 | $ 1,867 | $ 75,041 |
Balances (in Shares) at Dec. 31, 2014 | 8,074,855 | ||||
Stock options exercised | 0 | ||||
Tax benefit on stock based compensation | 46 | 46 | |||
Restricted stock issued (in Shares) | 6,000 | ||||
Restricted stock issued | 0 | ||||
Restricted stock forfeited (in Shares) | (2,700) | ||||
Restricted stock forfeited | 0 | ||||
Common stock dividend declared | (1,695) | (1,695) | |||
Stock based compensation | 261 | 261 | |||
Other comprehensive income (loss) | (298) | (298) | |||
Net income | 4,908 | 4,908 | |||
Balances at Dec. 31, 2015 | $ 24,682 | 3,217 | 48,795 | 1,569 | 78,263 |
Balances (in Shares) at Dec. 31, 2015 | 8,078,155 | ||||
Restricted stock issued (in Shares) | 10,000 | ||||
Restricted stock issued | 0 | ||||
Common stock dividend declared | (970) | (970) | |||
Stock based compensation | 63 | 63 | |||
Other comprehensive income (loss) | 95 | 95 | |||
Net income | 1,509 | 1,509 | |||
Balances at Mar. 31, 2016 | $ 24,682 | $ 3,280 | $ 49,334 | $ 1,664 | $ 78,960 |
Balances (in Shares) at Mar. 31, 2016 | 8,088,155 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 1,509 | $ 1,526 |
Adjustments to reconcile net earnings to net cash from operating activities: | ||
Provision (reversal of provision) for loan losses | 200 | (125) |
Increase (decrease) in deferred fees/costs, net | 173 | (4) |
Depreciation | 327 | 296 |
Amortization of investment securities, net | 74 | 40 |
Stock based compensation | 63 | 62 |
Gain on sale of premises and equipment | (1) | (5) |
OREO write downs | 0 | 50 |
Gain on sales and calls of available for sale securities | (6) | (109) |
Earnings on cash surrender value of life insurance | (108) | (108) |
Increase (decrease) in interest payable and other liabilities | 266 | (298) |
(Increase) decrease in interest receivable | (33) | 181 |
Increase in other assets | (18) | (33) |
Net cash from operating activities | 2,446 | 1,473 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchases of available for sale securities | (15,775) | (8,948) |
Proceeds from maturities, calls, and principal paydowns of securities available for sale | 3,153 | 9,097 |
Net (increase) decrease in loans | (27,552) | 1,305 |
Proceeds from sales of premises and equipment | 1 | 5 |
Net purchases of premises and equipment | (87) | (124) |
Net cash (used in) from investing activities | (40,260) | 1,335 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Shareholder cash dividends paid | (970) | (808) |
Net increase in demand deposits and savings accounts | 7,820 | 3,792 |
Net decrease in time deposits | (71) | (382) |
Net cash from financing activities | 6,779 | 2,602 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (31,035) | 5,410 |
CASH AND CASH EQUIVALENTS, beginning of period | 190,603 | 144,288 |
CASH AND CASH EQUIVALENTS, end of period | 159,568 | 149,698 |
Cash paid during the period for: | ||
Interest | 170 | 160 |
Income taxes | 0 | 890 |
NON-CASH INVESTING ACTIVITIES: | ||
Change in unrealized gain (loss) on available-for-sale securities | $ 161 | $ (9) |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block [Abstract] | |
Basis of Accounting [Text Block] | NOTE 1 – BASIS OF PRESENTATION On July 3, 2008 (the “Effective Date”), a bank holding company reorganization was completed whereby Oak Valley Bancorp (“Bancorp”) became the parent holding company for Oak Valley Community Bank ( the “Bank”). On the Effective Date, a tax-free exchange was completed whereby each outstanding share of the Company was converted into one share of Bancorp and the Company became the sole wholly-owned subsidiary of the holding company. On December 23, 2015, the Company completed its acquisition of Mother Lode Bank (“MLB”), a California state-chartered bank headquartered in Sonora, California, in a transaction in which Mother Lode Bank was merged with and into the Bank, with the Bank as the surviving company in the transaction. The purchase price for Mother Lode Bank was approximately $7.3 million. As of the acquisition date, Mother Lode Bank’s total assets were $78.7 million and total deposits were $71.1 million. Oak Valley Community Bank is a California State chartered bank. The Company was incorporated under the laws of the state of California on May 31, 1990, and began operations in Oakdale on May 28, 1991. The Company operates branches in Oakdale, Sonora, Bridgeport, Bishop, Mammoth Lakes, Modesto, Manteca, Patterson, Turlock, Ripon, Stockton, Tracy and Escalon, California. The Bridgeport, Mammoth Lakes, and Bishop branches operate as a separate division, Eastern Sierra Community Bank. The Company’s primary source of revenue is providing loans to customers who are predominantly middle-market businesses. The consolidated financial statements include the accounts of Bancorp and its wholly-owned bank subsidiary. All material intercompany transactions have been eliminated. In the opinion of Management, the consolidated financial statements contain all adjustments necessary to present fairly the financial position, results of operations, changes in shareholders’ equity and cash flows. All adjustments are of a normal, recurring nature. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates reflected in the Company’s consolidated financial statements include the allowance for loan losses, determination of non-accrual loans, other-than-temporary impairment of investment securities, the fair value measurements, deferred compensation plans, and the determination, recognition and measurement of impaired loans. Actual results could differ from these estimates. The interim consolidated financial statements included in this report are unaudited but reflect all adjustments which, in the opinion of management, are necessary for a fair presentation of the financial position and results of operations for the interim periods presented. All such adjustments are of a normal recurring nature. The results of operations for the three month period ended March 31, 2016 are not necessarily indicative of the results of a full year’s operations. Certain prior year amounts have been reclassified to conform to the current year presentation. There was no effect on net income or shareholders’ equity as a result of reclassifications. For further information, refer to the audited consolidated financial statements and footnotes included in the Company’s Form 10-K for the year ended December 31, 2015. |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS In September, 2015, the FASB issued ASU No. 2015-16, Simplifying the Accounting for Measurement Period Adjustments (Topic 805). This ASU eliminates the requirement to restate prior period financial statements for measurement period adjustments to assets acquired and liabilities assumed in a business combination. The new guidance under this update requires the cumulative impact of measurement period adjustments be recognized in the period the adjustment is determined. This update does not change what constitutes a measurement period adjustment, nor does it change the length of the measurement period. The new standard is effective for interim annual periods beginning after December 15, 2015 and should be applied prospectively to measurement period adjustments that occur after the effective date. The adoption of this update is not expected to have a material impact on the Company’s consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this ASU make improvements to GAAP related to financial instruments that include the following as applicable to us. ● Equity investments, except for those accounted for under the equity method of accounting or those that result in consolidation of the investee, are required to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ● Simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment - if impairment exists, this requires measuring the investment at fair value. ● Eliminates the requirement for public companies to disclose the method(s) and significant assumptions used to estimate the fair value that is currently required to be disclosed for financial instruments measured at amortized cost on the balance sheet. ● Public companies will be required to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. ● Requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements. ● The reporting entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. ASU 2016-01 is effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. This ASU will impact our financial statement disclosures, however, we do not expect this ASU to have a material impact on our financial condition or results of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities, including leases classified as operating leases under previous GAAP, on the balance sheet and requiring additional disclosures of key information about leasing arrangements. ASU 2016-02 is effective for annual periods, including interim periods within those annual periods beginning after December 15, 2018 and requires a modified retrospective approach to adoption. Early application of the amendments is permitted. We are currently evaluating the provisions of this ASU and will be monitoring developments and additional guidance to determine the potential outcome the amendments will have on our financial condition and results of operations. |
Note 3 - Acquisition
Note 3 - Acquisition | 3 Months Ended |
Mar. 31, 2016 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | NOTE 3 – ACQUISITION On December 23, 2015, in effort to expand our market presence and enhance shareholder value, the Company acquired 100% of the outstanding common shares of Mother Lode Bank ("MLB") and all unexercised options to purchase MLB common stock were cancelled, in exchange for $7,336,000 in cash (the "MLB Acquisition"). In conjunction with the MLB Acquisition, MLB was merged with and into Oak Valley Community Bank. On January 29, 2016, the two acquired MLB branches in Sonora were closed after management determined that our two existing branches in Sonora would be able to support our new customers. The assets acquired and liabilities assumed, both tangible and intangible, were recorded at their fair values as of the acquisition date in accordance with ASC 805. We have not identified additional information that existed at the acquisition date that would affect the measurement of assets acquired and liabilities assumed. Accordingly, there have been no changes in the fair value of assets acquired or liabilities assumed since the acquisition date. The acquisition was treated as a "reorganization" within the definition of section 368(a) of the Internal Revenue Code and is generally considered tax-free for U.S. federal income tax purposes. The following table reflects the estimated fair values of the assets acquired and liabilities assumed related to the MLB Acquisition: (Dollars in thousands) Acquisition Date Assets: Cash and cash equivalents $ 30,804 Loans 42,831 Core deposit intangible 1,031 Deferred tax asset 2,651 Goodwill 662 Other assets 738 Total assets acquired $ 78,717 Liabilities: Deposits: Non-interest bearing $ 36,177 Interest bearing Transaction accounts 6,112 Savings accounts 15,727 Money market accounts 7,602 Other time accounts 5,507 Total deposits 71,125 Other liabilites 256 Total liabilities assumed $ 71,381 Merger consideration $ 7,336 The following table presents the net assets acquired from MLB and the estimated fair value adjustments: (Dollars in thousands) Acquisition Date Book value of net assets acquired from Mother Lode Bank $ 4,884 Fair value adjustments: Loans (2,960 ) Reversal of Allowance for Loan Loss 1,279 Core deposit intangible asset 1,031 Other assets & liabilities, net (210 ) Total purchase accounting adjustments $ (860 ) Deferred tax asset (tax effect of purchase accounting adjustments at 41.15%) 354 DTA Carryforward 2,296 Fair value of net assets acquired from Mother Lode Bank $ 6,674 Merger consideration 7,336 Less: fair value of net assets acquired (6,674 ) Goodwill $ 662 As a result of the MLB Acquisition, we recorded $662,000 in goodwill, which represents the excess of the total purchase price paid over the fair value of the assets acquired, net of the fair values of liabilities assumed. Goodwill mainly reflects expected value created through the combined operations of MLB and the Company. At December 31, 2015, we determined that the fair value of our traditional community banking activities (provided through our branch network) exceeded the carrying amount. Therefore, no impairment on goodwill has been recorded. The following is a description of the methods used to determine the fair values of significant assets and liabilities at acquisition date presented above. Loans The fair values for acquired loans were developed based upon the present values of the expected cash flows utilizing market-derived discount rates. Expected cash flows for each acquired loan were projected based on contractual cash flows adjusted for expected prepayment, expected default (i.e. probability of default and loss severity), and principal recovery. Prepayment rates were applied to the principal outstanding based on the type of loan, where appropriate. Prepayments were based on a constant prepayment rate (“CPR”) applied across the life of a loan. The annual CPRs were between 0% and 5%, depending on the characteristics of the loan pool (e.g. construction, commercial real estate, etc.). Non-credit-impaired loans with similar characteristics were grouped together and were treated in the aggregate when applying the discount rate on the expected cash flows. Aggregation factors considered included the type of loan and related collateral, risk classification, fixed or variable interest rate, term of loan and whether or not the loan was amortizing. See Note 5 for additional information. Core Deposit Intangible The core deposit intangible represents the estimated future benefits of acquired deposits and is booked separately from the related deposits. The value of the core deposit intangible asset was determined using a discounted cash flow approach to arrive at the cost differential between the core deposits (non-maturity deposits such as transaction, savings and money market accounts) and alternative funding sources. A core deposit intangible asset of $1,031,000 was recorded on December 23, 2015, of which $42,000 was amortized during the first quarter of 2016. The core deposit intangible is amortized on an accelerated basis over an estimated ten-year life, and it is evaluated periodically for impairment. No impairment loss was recognized as of March 31, 2016. Acquisition Related Expenses Acquisition-related expenses are recognized as incurred and continue until all systems have been converted and operational functions become fully integrated. We incurred one-time third-party acquisition-related expenses in the consolidated statements of income totaling $58,000 during the first quarter of 2016. The conversion of the operating systems was completed in April 2016. |
Note 4 - Securities
Note 4 - Securities | 3 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4 – SECURITIES The amortized cost and estimated fair values of debt securities as of March 31, 2016 are as follows: (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 33,823 $ 1,134 $ (45 ) $ 34,912 Collateralized mortgage obligations 2,566 18 (16 ) 2,568 Municipalities 70,926 2,700 (106 ) 73,520 SBA pools 799 0 (5 ) 794 Corporate debt 17,343 32 (244 ) 17,131 Asset backed securities 12,780 0 (511 ) 12,269 Mutual fund 3,197 0 (130 ) 3,067 $ 141,434 $ 3,884 $ (1,057 ) $ 144,261 The following tables detail the gross unrealized losses and fair values aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2016. (dollars in thousands) Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. agencies $ 7,099 $ (15 ) $ 1,817 $ (30 ) $ 8,916 $ (45 ) Collateralized mortgage obligations 0 0 1,232 (16 ) 1,232 (16 ) Municipalities 9,374 (46 ) 3,028 (60 ) 12,402 (106 ) SBA pools 0 0 794 (5 ) 794 (5 ) Corporate debt 13,287 (244 ) 0 0 13,287 (244 ) Asset backed securities 4,803 (84 ) 7,466 (427 ) 12,269 (511 ) Mutual fund 0 0 3,066 (130 ) 3,066 (130 ) Total temporarily impaired securities $ 34,563 $ (389 ) $ 17,403 $ (668 ) $ 51,966 $ (1,057 ) At March 31, 2016, there was one U.S. agency, one collateralized mortgage obligations, five municipalities, two SBA pools, three asset backed securities and one mutual fund that comprised the total securities in an unrealized loss position for greater than 12 months and three U.S. agencies, eight municipalities, ten corporate debts and four asset backed securities that make up the total securities in a loss position for less than 12 months. Management periodically evaluates each available-for-sale investment security in an unrealized loss position to determine if the impairment is temporary or other than temporary. This evaluation encompasses various factors including, the nature of the investment, the cause of the impairment, the severity and duration of the impairment, credit ratings and other credit related factors such as third party guarantees and volatility of the security’s fair value. Management has determined that no investment security is other than temporarily impaired. The unrealized losses are due primarily to interest rate changes and the Company does not intend to sell the securities and it is not likely that we will be required to sell the securities before the earlier of the forecasted recovery or the maturity of the underlying investment security. The amortized cost and estimated fair value of investment securities at March 31, 2016, by contractual maturity or call date, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (dollars in thousands) Amortized Fair Cost Value Available-for-sale securities: Due in one year or less $ 15,109 $ 15,594 Due after one year through five years 44,879 46,078 Due after five years through ten years 51,718 52,135 Due after ten years 29,728 30,454 $ 141,434 $ 144,261 The amortized cost and estimated fair values of debt securities as of December 31, 2015, are as follows: (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 31,815 $ 1,142 $ (89 ) $ 32,868 Collateralized mortgage obligations 2,729 17 (27 ) 2,719 Municipalities 66,535 2,248 (197 ) 68,586 SBA pools 811 0 (5 ) 806 Corporate debt 13,497 44 (121 ) 13,420 Asset backed securities 10,321 0 (183 ) 10,138 Mutual fund 3,172 0 (163 ) 3,009 $ 128,880 $ 3,451 $ (785 ) $ 131,546 The following tables detail the gross unrealized losses and fair values aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2015. (dollars in thousands) Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. agencies $ 7,129 $ (30 ) $ 1,800 $ (59 ) $ 8,929 $ (89 ) Collateralized mortgage obligations 0 0 1,266 (27 ) 1,266 (27 ) Municipalities 11,451 (123 ) 3,680 (74 ) 15,131 (197 ) SBA pools 0 0 807 (5 ) 807 (5 ) Corporate debt 9,376 (121 ) 0 0 9,376 (121 ) Asset backed securities 5,351 (78 ) 4,787 (105 ) 10,138 (183 ) Mutual fund 0 0 3,009 (163 ) 3,009 (163 ) Total temporarily impaired securities $ 33,307 $ (352 ) $ 15,349 $ (433 ) $ 48,656 $ (785 ) We recognized gross gains of $6,000 for the three month period ended March 31, 2016, on certain available-for-sale securities that were called or sold, which compares to $109,000 in the same period of 2015. There were no securities sold during the first three months of 2016, compared to two available-for-sale securities sold during the first three months of 2015, which resulted in a loss of $32 ,000 on one sale and a gain of 13,000 on the other sale. Securities carried at $81,063,000 and $65,902,000 at March 31, 2016 and December 31, 2015, respectively, were pledged to secure deposits of public funds. |
Note 5 - Loans
Note 5 - Loans | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 – LOANS Our customers are primarily located in Stanislaus, San Joaquin, Tuolumne, Inyo, and Mono Counties. As of March 31, 2016, approximately 78% of the Company’s loans are commercial real estate loans which include construction loans. Approximately 13% of the Company’s loans are for general commercial uses including professional, retail, and small business. Additionally, 6% of the Company’s loans are for residential real estate and other consumer loans. The remaining 3% are agriculture loans. Loan totals were as follows: (in thousands) March 31, 2016 December 31, 2015 Commercial real estate: Commercial real estate- construction $ 19,199 $ 19,363 Commercial real estate- mortgages 368,685 363,644 Land 9,520 10,239 Farmland 44,265 29,801 Commercial and industrial 72,715 63,776 Consumer 815 774 Consumer residential 32,983 32,588 Agriculture 20,045 20,847 Total loans 568,227 541,032 Less: Deferred loan fees and costs, net (3,097 ) (3,282 ) Allowance for loan losses (7,557 ) (7,356 ) Net loans $ 557,573 $ 530,394 Loan Origination/Risk Management. Commercial and industrial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Underwriting standards are designed to promote relationship banking rather than transactional banking. Once it is determined that the borrower’s management possesses sound ethics and solid business acumen, our management examines current and projected cash flows to determine the ability of the borrower to repay their obligations as agreed. Commercial and industrial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial and industrial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type and geographic location. This diversity helps reduce the Company’s exposure to adverse economic events that affect any single market or industry. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. As a general rule, the Company avoids financing single-purpose projects unless other underwriting factors are present to help mitigate risk. The Company also utilizes third-party experts to provide insight and guidance about economic conditions and trends affecting market areas it serves. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner occupied loans. At March 31, 2016 and December 31, 2015, commercial real estate loans equal to approximately 40.4% and 44.3%, respectively, of the outstanding principal balance of our commercial real estate loans were secured by owner-occupied properties. With respect to loans to developers and builders that are secured by non-owner occupied properties that the Company may originate from time to time, the Company generally requires the borrower to have had an existing relationship with the Company and have a proven record of success. Construction loans are underwritten utilizing feasibility studies, independent appraisal reviews, sensitivity analysis of absorption and lease rates and financial analysis of the developers and property owners. Construction loans are generally based upon estimates of costs and value associated with the complete project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing. Agricultural production, real estate and development lending is susceptible to credit risks including adverse weather conditions, pest and disease, as well as market price fluctuations and foreign competition. Agricultural loan underwriting standards are maintained by following Company policies and procedures in place to minimize risk in this lending segment. These standards consist of limiting credit to experienced farmers who have demonstrated farm management capabilities, requiring cash flow projections displaying margins sufficient for repayment from normal farm operations along with equity injected as required by policy, as well as providing adequate secondary repayment and sponsorship including satisfactory collateral support. Credit enhancement obtained through government guarantee programs may also be used to provide further support as available. The Company originates consumer loans utilizing common underwriting criteria specified in policy. To monitor and manage consumer loan risk, policies and procedures are developed and modified, as needed, jointly by line and staff personnel. This activity, coupled with relatively small loan amounts that are spread across many individual borrowers, minimizes risk. Additionally, trend and outlook reports are reviewed by management on a regular basis. Underwriting standards for 1-4 family, home equity lines and loans follow bank policy, which include, but are not limited to, a maximum loan-to-value percentage of 80%, a maximum housing and total debt ratio of 36% and 42%, respectively and other specified credit and documentation requirements. The Company maintains an independent loan review department that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented to management. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Bank’s policies and procedures. Purchased Credit-Impaired (“PCI”) Loans. For acquired loans not considered credit-impaired, the difference between the contractual amounts due (principal amount) and the fair value is accounted for subsequently through accretion. We recognize discount accretion based on the acquired loan’s contractual cash flows using an effective interest rate method. The accretion is recognized through the net interest margin. The following table presents the fair value of purchased credit-impaired and other loans acquired from Mother Lode Bank as of the acquisition date: December 23, 2015 (in thousands) Purchased credit-impaired loans Other purchased loans Total Contractually required payments including interest $ 1,982 $ 44,007 $ 45,989 Less: nonaccretable difference (1,103 ) 0 (1,103 ) Cash flows expected to be collected (undiscounted) 879 44,007 44,886 Accretable yield (14 ) (2,041 ) (2,055 ) Fair value of purchased loans $ 865 $ 41,966 $ 42,831 The following table reflects the outstanding balance and related carrying value of PCI loans as of March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 (in thousands) Unpaid principal balance Carrying value Unpaid principal balance Carrying value Commercial real estate: Commercial real estate- construction $ 0 $ 0 $ 0 $ 0 Commercial real estate- mortgages 196 118 196 118 Land 795 269 795 269 Farmland 0 0 0 0 Commercial and industrial 774 458 794 478 Consumer 0 0 0 0 Consumer residential 0 0 0 0 Agriculture 0 0 0 0 Total purchased credit-impaired loans $ 1,765 $ 845 $ 1,785 $ 865 For the PCI loans, the accretable yield represents the excess of the cash flows expected to be collected at acquisition over the fair value of the loans at the acquisition date, and is accreted into interest income over the estimated remaining life of the purchased credit-impaired loans using the effective yield method, provided that the timing and amount of future cash flows is reasonably estimable. The cash flows expected to be collected are updated each quarter based on current assumptions regarding default rates, loss severities, and other factors that are reflective of current market conditions. Probable decreases in expected cash flows after acquisition result in the recognition of impairment as a specific allowance for loan losses or a charge-off to the allowance. The accretable yield balance for PCI loans was $14,000 at December 31, 2015, all of which was accreted to interest income during the first quarter of 2016, as each of the PCI loans had short-term maturities. The nonaccretable difference represents the difference between the undiscounted contractual cash flows and the undiscounted expected cash flows, and also reflects the estimated credit losses in the acquired loan portfolio at the acquisition date and can fluctuate due to changes in expected cash flows during the life of the PCI loans. Non-Accrual and Past Due Loans. Non-accrual loans, segregated by class of loans, were as follows: (in thousands) March 31, 2016 December 31, 2015 Commercial real estate: Land 2,448 2,739 Farmland 1,228 51 Commercial and industrial 318 322 Agriculture 2,704 2,704 Total non-accrual loans $ 6,698 $ 5,816 (1) Excluded from the above non-accrual loan table are the carrying values of Purchased Credit Impaired loans acquired in the MLB Acquisition. Had non-accrual loans performed in accordance with their original contract terms, we would have recognized additional interest income of approximately $149,000 in the three month period ended March 31, 2016, as compared to $82,000 in the same period of 2015. The following table analyzes past due loans including the non-accrual loans in the above table, segregated by class of loans, as of March 31, 2016 (in thousands): March 31, 2016 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Purchased Credit Impaired Loans Total Greater Than 90 Days Past Due and Still Accruing Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 19,199 $ 0 $ 19,199 $ 0 Commercial R.E. - mortgages 31 0 0 31 368,535 118 368,684 0 Land 0 0 2,068 2,068 7,184 269 9,521 0 Farmland 0 0 1,228 1,228 43,037 0 44,265 0 Commercial and industrial 1,306 0 310 1,616 70,641 458 72,715 0 Consumer 0 0 0 0 815 0 815 0 Consumer residential 0 0 0 0 32,983 0 32,983 0 Agriculture 0 0 2,704 2,704 17,341 0 20,045 0 Total $ 1,337 $ 0 $ 6,310 $ 7,647 $ 559,735 $ 845 $ 568,227 $ 0 The following table analyzes past due loans including the non-accrual loans in the above table, segregated by class of loans, as of December 31, 2015 (in thousands): December 31, 2015 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Purchased Credit Impaired Loans Total Greater Than 90 Days Past Due and Still Accruing Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 19,363 $ 0 $ 19,363 $ 0 Commercial R.E. - mortgages 0 0 0 0 363,526 118 363,644 0 Land 0 0 2,261 2,261 7,709 269 10,239 0 Farmland 1,182 0 51 1,233 28,568 0 29,801 0 Commercial and industrial 352 0 312 664 62,634 478 63,776 0 Consumer 0 0 0 0 774 0 774 0 Consumer residential 0 0 0 0 32,588 0 32,588 0 Agriculture 0 2,704 0 2,704 18,143 0 20,847 0 Total $ 1,534 $ 2,704 $ 2,624 $ 6,862 $ 533,305 $ 865 $ 541,032 $ 0 Impaired Loans. Impaired loans as of March 31, 2016 and December 31, 2015 are set forth in the following tables. PCI loans are excluded from the tables below, as they have not experienced post acquisition declines in cash flows expected to be collected. (in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance March 31, 2016 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 2,795 380 2,068 2,448 680 Farmland 1,242 1,228 0 1,228 0 Commercial and Industrial 356 318 0 318 0 Consumer 0 0 0 0 0 Consumer residential 0 0 0 0 0 Agriculture 2,704 2,704 0 2,704 0 Total $ 7,097 $ 4,630 $ 2,068 $ 6,698 $ 680 December 31, 2015 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 3,060 0 2,739 2,739 722 Farmland 63 51 0 51 0 Commercial and Industrial 357 322 0 322 0 Consumer 0 0 0 0 0 Consumer residential 0 0 0 0 0 Agriculture 2,704 2,704 0 2,704 0 Total $ 6,184 $ 3,077 $ 2,739 $ 5,816 $ 722 Average recorded investment in impaired loans is set forth in the following table. Average Recorded Investment for the (in thousands) Three Months Ended Three Months Ended March 31, 2015 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 Commercial R.E. - mortgages 0 648 Land 2,553 2,989 Farmland 502 69 Commercial and Industrial 319 849 Consumer 0 0 Consumer residential 0 0 Agriculture 2,704 0 Total $ 6,078 $ 4,555 Troubled Debt Restructurings – At March 31, 2016, there were 5 loans that were considered to be troubled debt restructurings, all of which are considered non-accrual totaling $2,765,000. At December 31, 2015, there were 5 loans that were considered to be troubled debt restructurings, all of which are considered non-accrual totaling $3,060,000. At March 31, 2016 and December 31, 2015 there were no unfunded commitments on loans classified as a troubled debt restructures. We have allocated $680,000 and $722,000 of specific reserves to loans whose terms have been modified in troubled debt restructurings as of March 31, 2016 and December 31, 2015, respectively. The modification of the terms of such loans typically includes one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date; or a temporary payment modification in which the payment amount allocated towards principal was reduced. In some cases, a permanent reduction of the accrued interest on the loan is conceded. During the three months ended March 31, 2016, three loans were modified as troubled debt restructurings by extending the maturity dates, and there were no loans modified during the first three months of 2015. The following tables presents loans by class modified as troubled debt restructurings that occurred during the three month period ended March 31, 2016: For the Three Months Ended (dollars in thousands) March 31, 2016 Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial real estate: Commercial R.E. - construction 1 $ 1,090 $ 1,090 Commercial R.E. - mortgages 0 0 0 Land 1 565 565 Farmland 0 0 0 Commercial and industrial 1 599 599 Consumer 0 0 0 Consumer residential 0 0 0 Agriculture 0 0 0 Total 3 $ 2,254 $ 2,254 The troubled debt restructuring during the three months ended March 31, 2016 did not increase the allowance for loan losses as a result of loan modifications. There were no charge-offs as a result of loan modifications, as the contractual balances outstanding were determined to be collectible. There were no loans modified as troubled debt restructurings within the previous twelve months and for which there was a payment default during the three month periods ended March 31, 2016 and 2015. A loan is considered to be in payment default once it is ninety days contractually past due under the modified terms. Loan Risk Grades – We grade loans using the following letter system: 1 Exceptional Loan 2 Quality Loan 3A Better Than Acceptable Loan 3B Acceptable Loan 3C Marginally Acceptable Loan 4 (W) Watch Acceptable Loan 5 Other Loans Especially Mentioned 6 Substandard Loan 7 Doubtful Loan 8 Loss 1. Exceptional Loan -A high level of liquidity and whose debt-servicing capacity exceeds expected obligations by a substantial margin. -Where leverage is below average for the industry and earnings are consistent or growing without severe vulnerability to economic cycles. -Also included in this rating (but not mandatory unless one or more of the preceding characteristics are missing) are loans that are fully secured and properly margined by our own time instruments or U.S. blue chip securities. To be properly margined cash collateral must be equal to, or greater than, 110% of the loan amount. 2. Quality Loan -Unquestionable debt-servicing capacity to cover all obligations in the ordinary course of business from well-defined primary and secondary sources. -Consistent strong earnings. -A solid equity base. 3A. Better than Acceptable Loan -Strong earnings with no loss in last three years and ample cash flow to service all debt well above policy guidelines. -Long term experienced management with depth and defined management succession. -The loan has no exceptions to policy. -Loan-to-value on real estate secured transactions is 10% to 20% less than policy guidelines. -Very liquid balance sheet that may have cash available to pay off our loan completely. -Little to no debt on balance sheet. 3B. Acceptable Loan -Are those where the borrower has average financial strengths, a history of profitable operations and experienced management. -Are those where the borrower can be expected to handle normal credit needs in a satisfactory manner. 3C. Marginally Acceptable Requires collateral. A credit facility where the borrower has average financial strengths, but usually lacks reliable secondary sources of repayment other than the subject collateral. Other common characteristics can include some or all of the following: minimal background experience of management, lacking continuity of management, a start-up operation, erratic historical profitability (acceptable reasons-well identified), lack of or marginal sponsorship of guarantor, and government guaranteed loans. 4W Watch Acceptable 5 Other Loans Especially Mentioned (Special Mention) -The lending officer may be unable to properly supervise the credit because of an inadequate loan or credit agreement. -Questions exist regarding the condition of and/or control over collateral. -Economic or market conditions may unfavorably affect the obligor in the future. -A declining trend in the obligor’s operations or an imbalanced position in the balance sheet exists, but not to the point that repayment is jeopardized. 6 Substandard Loan 7 Doubtful Loan A proper classification of such a credit would show 40 percent substandard, 25 percent doubtful, and 35 percent loss. A credit classified as doubtful should be resolved within a ‘reasonable’ period of time. Reasonable is generally defined as the period between examinations. In other words, a credit classified doubtful at an examination should be cleared up before the next exam. However, there may be situations that warrant continuation of the doubtful classification a while longer. 8 Loss As of March 31, 2016 and December 31, 2015, there are no loans that are classified with a risk grade of 8- Loss. The following table presents weighted average risk grades of our loan portfolio: March 31, 2016 December 31, 2015 Weighted Average Risk Grade Weighted Average Risk Grade Commercial real estate: Commercial real estate - construction 3.19 3.72 Commercial real estate - mortgages 3.15 3.16 Land 4.57 4.58 Farmland 3.20 3.12 Commercial and industrial 3.44 3.57 Consumer 2.09 1.99 Consumer residential 3.01 3.01 Agriculture 3.40 3.39 Total gross loans 3.22 3.25 The following table presents risk grade totals by class of loans as of March 31, 2016 and December 31, 2015. Risk grades 1 through 4 have been aggregated in the “Pass” line. (in thousands) Commercial R.E. Construction Commercial R.E. Mortgages Land Farmland Commercial and Industrial Consumer Consumer Residential Agriculture Total March 31, 2016 Pass $ 18,095 $ 363,269 $ 5,993 $ 43,037 $ 65,889 $ 786 $ 32,928 $ 17,341 $ 547,338 Special mention - 3,633 80 - 4,597 - - - 8,310 Substandard 1,104 1,783 3,167 1,228 1,979 29 55 2,704 12,049 Doubtful - - 280 - 250 - - - 530 Total loans $ 19,199 $ 368,685 $ 9,520 $ 44,265 $ 72,715 $ 815 $ 32,983 $ 20,045 $ 568,227 December 31, 2015 Pass $ 18,312 $ 357,339 $ 6,358 $ 28,568 $ 55,957 $ 745 $ 32,532 $ 18,143 $ 517,954 Special mention - 4,389 110 - 6,153 - - - 10,652 Substandard 1,051 1,916 3,283 1,233 1,416 29 56 2,704 11,688 Doubtful - - 488 - 250 - - - 738 Total loans $ 19,363 $ 363,644 $ 10,239 $ 29,801 $ 63,776 $ 774 $ 32,588 $ 20,847 $ 541,032 Allowance for Loan Losses. The level of the allowance reflects management’s continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions and unidentified losses inherent in the current loan portfolio. Portions of the allowance may be allocated for specific credits; however, the entire allowance is available for any credit that, in management’s judgment, should be charged off. While management utilizes its best judgment and information available, the ultimate adequacy of the allowance is dependent upon a variety of factors beyond the Company’s control, including, among other things, the performance of the Company’s loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. The Company’s allowance for loan losses consists of three elements: (i) specific valuation allowances determined in accordance with ASC Topic 310 based on probable losses on specific loans; (ii) historical valuation allowances determined in accordance with ASC Topic 450 based on historical loan loss experience for similar loans with similar characteristics and trends, adjusted, as necessary, to reflect the impact of current conditions; and (iii) general valuation allowances determined in accordance with ASC Topic 450 based on general economic conditions and other qualitative risk factors both internal and external to the Bank and the Company. The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the obligor’s ability to repay; (ii) the underlying collateral, if any; and (iii) the economic environment and industry in which the borrower operates. This analysis is performed at the relationship manager level for all commercial loans. When a loan has a calculated grade of 5 or higher, a special assets officer analyzes the loan to determine whether the loan is impaired and, if impaired, the need to specifically allocate a portion of the allowance for loan losses to the loan. Specific valuation allowances are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk grade of the loan and economic conditions affecting the borrower’s industry, among other things. Historical valuation allowances are calculated based on the historical loss experience of specific types of loans and the internal risk grade of such loans at the time they were charged-off. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool. The historical loss ratios are periodically updated based on actual charge-off experience. A historical valuation allowance is established for each pool of similar loans based upon the product of the historical loss ratio and the total dollar amount of the loans in the pool. The Company’s pools of similar loans include similarly risk-graded groups of commercial and industrial loans, commercial real estate loans, consumer real estate loans and consumer and other loans. General valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Bank and the Company. In general, such valuation allowances are determined by evaluating, among other things: (i) the experience, ability and effectiveness of the Bank’s lending management and staff; (ii) the effectiveness of the Bank’s loan policies, procedures and internal controls; (iii) changes in asset quality; (iv) changes in loan portfolio volume; (v) the composition and concentrations of credit; (vi) the impact of competition on loan structuring and pricing; (vii) the effectiveness of the internal loan review function; (viii) the impact of environmental risks on portfolio risks; and (ix) the impact of rising interest rates on portfolio risk. Management evaluates the degree of risk that each one of these components has on the quality of the loan portfolio on a quarterly basis. Each component is determined to have either a high, moderate or low degree of risk. The results are then input into a “general allocation matrix” to determine an appropriate general valuation allowance. Included in the general valuation allowances are allocations for groups of similar loans with risk characteristics that exceed certain concentration limits established by management. Concentration risk limits have been established, among other things, for certain industry concentrations, large balance and highly leveraged credit relationships that exceed specified risk grades, and loans originated with policy exceptions that exceed specified risk grades. Loans identified as losses by management, internal loan review and/or bank examiners are charged-off. Furthermore, consumer loan accounts are charged-off automatically based on regulatory requirements. The following table details activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2016 and 2015. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Allowance for Loan Losses For the Three Months Ended March 31, 2016 and 2015 (in thousands) Commercial Commercial Consumer Three Months Ended March 31, 2016 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 5,920 $ 627 $ 38 $ 426 $ 309 $ 36 $ 7,356 Charge-offs 0 0 (3 ) 0 0 0 (3 ) Recoveries 3 0 0 1 0 0 4 Provision for (reversal of) loan losses 75 93 9 (29 ) (7 ) 59 200 Ending balance $ 5,998 $ 720 $ 44 $ 398 $ 302 $ 95 $ 7,557 Three Months Ended March 31, 2015 Beginning balance $ 5,963 $ 720 $ 42 $ 388 $ 286 $ 135 $ 7,534 Charge-offs - - (3 ) - - - (3 ) Recoveries 1 - 2 - - - 3 (Reversal of) provision for loan losses (154 ) (35 ) 9 167 (105 ) (7 ) (125 ) Ending balance $ 5,810 $ 685 $ 50 $ 555 $ 181 $ 128 $ 7,409 The following table details the allowance for loan losses and ending gross loan balances as of March 31, 2016, December 31, 2015 and March 31, 2016 summarized by collective and individual evaluation methods of impairment. (in thousands) Commercial Commercial Consumer March 31, 2016 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Allowance for loan losses for loans: Individually evaluated for impairment $ 680 $ 0 $ 0 $ 0 $ 0 $ 680 Collectively evaluated for impairment 5,318 720 44 398 302 95 6,877 $ 5,998 $ 720 $ 44 $ 398 $ 302 $ 95 $ 7,557 Ending gross loan balances: Individually evaluated for impairment $ 3,675 $ 318 $ 0 $ 0 $ 2,704 $ 0 $ 6,697 Individually evaluated purchased credit impaired loans 387 458 0 0 0 0 845 Collectively evaluated for impairment 437,607 71,939 815 32,983 17,341 0 560,685 $ 441,669 $ 72,715 $ 815 $ 32,983 $ 20,045 $ 0 $ 568,227 December 31, 2015 Allowance for loan losses for loans: Individually evaluated for impairment $ 722 $ 0 $ 0 $ 0 $ 0 $ 722 Collectively evaluated for impairment 5,198 627 38 426 309 36 6,634 $ 5,920 $ 627 $ 38 $ 426 $ 309 $ 36 $ 7,356 Ending gross loan balances: Individually evaluated for impairment $ 2,790 $ 322 $ 0 $ 0 $ 2,704 $ 0 $ 5,816 Individually evaluated purchased credit impaired loans 387 478 0 0 0 0 865 Collectively evaluated for impairment 419,870 62,976 774 32,588 18,143 0 534,351 $ 423,047 $ 63,776 $ 774 $ 32,588 $ 20,847 $ 0 $ 541,032 March 31, 2015 Allowance for loan losses for loans: Individually evaluated for impairment $ 862 $ 95 $ 0 $ 0 $ 0 $ 0 $ 957 Collectively evaluated for impairment 4,948 590 50 555 181 128 6,452 $ 5,810 $ 685 $ 50 $ 555 $ 181 $ 128 $ 7,409 Ending gross loan balances: Individually evaluated for impairment $ 3,050 $ 1,362 $ 0 $ 0 $ 0 $ 0 $ 4,412 Collectively evaluated for impairment 364,506 49,466 857 24,493 9,431 0 448,753 $ 367,556 $ 50,828 $ 857 $ 24,493 $ 9,431 $ 0 $ 453,165 Changes in the reserve for off-balance-sheet commitments were as follows: (in thousands) THREE MONTHS ENDED MARCH 31, 2016 2015 Balance, beginning of period $ 238 $ 218 Provision to operations for off balance sheet commitments 26 9 Balance, end of period $ 264 $ 227 The method for calculating the reserve for off-balance-sheet loan commitments is based on a reserve percentage which is less than other outstanding loan types because they are at a lower risk level. This reserve percentage, based on many factors including historical losses and existing economic conditions, is evaluated by management periodically and is applied to the total undisbursed loan commitment balance to calculate the reserve for off-balance-sheet commitments. Reserves for off-balance-sheet commitments are recorded in interest payable and other liabilities on the condensed consolidated balance sheets. At March 31, 2016 and December 31, 2015, loans carried at $568,227,000 and $541,032,000, respectively, were pledged as collateral on advances from the Federal Home Loan Bank. |
Note 6 - Other Real Estate Owne
Note 6 - Other Real Estate Owned | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block [Abstract] | |
Real Estate Owned [Text Block] | NOTE 6 – OTHER REAL ESTATE OWNED As of March 31, 2016 and December 31, 2015, the Company owned five properties classified as other real estate totalling $2,066,000, which includes one property consisting of residential land that was written down to a zero balance. Each of these properties was acquired through loan foreclosure, except for one property with a balance of $275,000 that was acquired in the Mother Lode Bank acquisition. The residential land property the Company owned at March 31, 2016 and December 31, 2015, was written down to a zero balance because the public utilities have not been obtainable rendering these land lots unmarketable at this time. There were no sales of OREO property during the three months ended March 31, 2016 and 2015. Real estate properties acquired through, or in lieu of, loan foreclosure are to be sold and are initially recorded at the lower of carrying amount of the loan or fair value of the property at the date of foreclosure less selling costs. Subsequent to foreclosure, valuations are periodically performed and any subject revisions in the estimate of fair value are reported as adjustment to the carrying value of the real estate, provided the adjusted carrying amount does not exceed the original amount at foreclosure. Revenues and expenses from operations and changes in the valuation allowance are included in other operating expenses. |
Note 7 - Other Post-retirement
Note 7 - Other Post-retirement Benefit Plans | 3 Months Ended |
Mar. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 7 – OTHER POST-RETIREMENT BENEFIT PLANS During January 2008, the Bank awarded certain officers a salary continuation plan (the “Plan”). Under the Plan, the participants will be provided with a fixed annual retirement benefit for ten to twenty years after retirement . The Bank is also responsible for certain pre-retirement death benefits under the Plan. In connection with the implementation of the Plan, the Bank purchased single premium life insurance policies on the life of each of the officers covered under the Plan. The Bank is the owner and partial beneficiary of these life insurance policies. The assets of the Plan, under Internal Revenue Service regulations, are owned by the Bank and are available to satisfy the Company’s general creditors. In August 2001, the Board of Directors of the Bank authorized Director Retirement Plans (“DRP”) with each director. The Bank awarded a director retirement plan to two of its directors in January 2008 and to three of its newest directors in March 2014. Under the DRP, the participants will be provided with a fixed annual retirement benefit for ten years after retirement. The Bank is also responsible for certain pre-retirement death benefits under the DRP. In connection with the implementation of the DRP, the Bank purchased single premium life insurance policies on the life of each director covered under the DRP. The Bank is the owner and partial beneficiary of these life insurance policies. The assets of the DRP, under Internal Revenue Service regulations, are the property of the Bank and are available to satisfy the Bank’s general creditors. Future compensation under both plans is earned for services rendered through retirement. The Bank accrues for the salary continuation liability based on anticipated years of service and vesting schedules provided under the plans. The Bank’s current benefit liability is determined based on vesting and the present value of the benefits at a corresponding discount rate. The discount rate used is an equivalent rate for investment-grade bonds with lives matching those of the service periods remaining for the salary continuation contracts, which average approximately 1 0 years. The salary continuation liability as of March 31, 2016 and December 31, 2015 was $2,406,000 and $2,440,000, respectively, and is reported in interest payable and other liabilities on the condensed consolidated balance sheets. During January 2008, the Bank purchased $4.7 million in bank owned life insurance policies and entered into split-dollar life insurance agreements with certain officers and directors. During March 2014, the Bank purchased an additional $1.0 million in bank owned life insurance policies and entered into split-dollar life insurance agreements with its three newest directors. In connection with the implementation of the split-dollar agreements, the Bank purchased single premium life insurance policies on the life of each of the officers and directors covered by the split-dollar life insurance agreements. The Bank is the owner of the policies and the partial beneficiary in an amount equal to the cash surrender value of the policies. The combined cash surrender value of all Bank-owned life insurance policies recorded in interest receivable and other assets on the condensed consolidated balance sheets were $13,855,000 and $13,747,000 at March 31, 2016 and December 31, 2015, respectively. |
Note 8 - Financial Instruments
Note 8 - Financial Instruments and Fair Value Measurements | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | NOTE 8 — FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Fair values of financial instruments — Fair value measurements defines fair value, establishes a framework for measuring fair value, establishes a three-level valuation hierarchy for disclosure of fair value measurement and enhances disclosure requirements for fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follow: Level 1: Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2: Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstance that caused the transfer, which generally corresponds with the Company’s quarterly valuation process. There were no transfers between levels during the three month periods ended March 31, 2016 or 2015. Following is a description of valuation methodologies used for assets and liabilities in the tables below: Cash and cash equivalents – Restricted Equity Securities- Loans receivable Deposit liabilities Interest receivable and payable - Off-balance-sheet instruments . The estimated fair values of the Company’s financial instruments not measured at fair value at March 31, 2016 were as follows: Hierarchy (in thousands) Carrying Fair Valuation Amount Value Level Financial assets: Cash and cash equivalents $ 159,568 159,568 1 Restricted equity securities 3,716 3,716 2 Loans, net 557,573 563,237 3 Interest receivable 2,304 2,304 2 Financial liabilities: Deposits (882,440 ) (745,981 ) 3 Interest payable (29 ) (29 ) 2 Off-balance-sheet assets (liabilities): Commitments and standby letters of credit (980 ) 3 The estimated fair values of the Company’s financial instruments not measured at fair value at December 31, 2015 were as follows: Hierarchy (in thousands) Carrying Fair Valuation Amount Value Level Financial assets: Cash and cash equivalents $ 190,603 $ 190,603 1 Restricted equity securities 3,716 3,716 2 Loans, net 530,394 537,761 3 Interest receivable 2,420 2,420 2 Financial liabilities: Deposits (814,691 ) (725,982 ) 3 Interest payable (36 ) (36 ) 2 Off-balance-sheet assets (liabilities): Commitments and standby letters of credit (917 ) 3 The following table presents the carrying value of recurring and nonrecurring financial instruments that were measured at fair value and that were still held in the condensed consolidated balance sheets at each respective period end, by level within the fair value hierarchy as of March 31, 2016 and December 31, 2015 . Fair Value Measurements at March 31, 2016 Using (in thousands) March 31, 2016 Quoted Prices Significant Significant Assets and liabilities measured on a recurring basis: Available-for-sale securities: U.S. agencies $ 34,912 $ 0 $ 34,912 $ 0 Collateralized mortgage obligations 2,568 0 2,568 0 Municipalities 73,520 0 73,520 0 SBA pools 794 0 794 0 Corporate debt 17,131 0 17,131 0 Asset backed securities 12,269 0 12,269 0 Mutual fund 3,067 3,067 0 0 Assets and liabilities measured on a non-recurring basis: Impaired loans: Land $ 380 $ 0 $ 0 $ 380 Other real estate owned 2,066 0 0 2,066 Fair Value Measurements at December 31, 2015 Using (in thousands) December 31, Quoted Prices Significant Significant Assets and liabilities measured on a recurring basis: Available-for-sale securities U.S. agencies $ 32,868 $ 0 $ 32,868 $ 0 Collateralized mortgage obligations 2,719 0 2,719 0 Municipalities 68,586 0 68,586 0 SBA pools 806 0 806 0 Corporate debt 13,420 0 10,944 2,476 Asset backed securities 10,138 0 10,138 0 Mutual fund 3,009 3,009 0 0 Assets and liabilities measured on a non-recurring basis: Impaired loans: Land $ 1,965 $ 0 $ 0 $ 1,965 Other real estate owned $ 2,066 $ 0 $ 0 $ 2,066 Following is a description of valuation methodologies used for assets and liabilities recorded at fair value. Available-for-sale securities - Impaired loans Accounting by Creditors for Impairment of a Loan Other Real Estate Owned Net realizable value of the underlying collateral is the fair value of the collateral less estimated selling costs and any prior liens. Appraisals, recent comparable sales, offers and listing prices are factored in when valuing the collateral. We review and verify the qualifications and licenses of the certified general appraisers used for appraising commercial properties or certified residential appraisers for residential properties. Real estate appraisals may utilize a combination of approaches including replacement cost, sales comparison and the income approach. Comparable sales and income data are analyzed by the appraisers and adjusted to reflect differences between them and the subject property such as type, leasing status and physical condition. When the appraisals are received, Management reviews the assumptions and methodology utilized in the appraisal, as well as the overall resulting value in conjunction with independent data sources such as recent market data and industry-wide statistics. We generally use a 6% discount for selling costs which is applied to all properties, regardless of size. Appraised values may be adjusted to reflect changes in market conditions that have occurred subsequent to the appraisal date, or for revised estimates regarding the timing or cost of the property sale. These adjustments are based on qualitative judgments made by management on a case-by-case basis. There have been no significant changes in the valuation techniques during the period ended March 31, 2016. |
Note 9 - Earnings Per Share
Note 9 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | NOTE 9 – EARNINGS PER SHARE Earnings per share (“EPS”) are based upon the weighted average number of common shares outstanding during each year. The following table shows: (1) weighted average basic shares, (2) effect of dilutive securities related to stock options and non-vested restricted stock, and (3) weighted average shares of common stock and common stock equivalents. Net income available to common stockholders is calculated as net income reduced by dividends accumulated on preferred stock, if any. Basic EPS are calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during each period, excluding unvested restricted stock awards. Diluted EPS are calculated using the weighted average diluted shares, which reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The dilutive shares included in year-to-date diluted EPS is a weighted average of the dilutive shares included in each quarterly diluted EPS computation under the treasury stock method. We have two forms of outstanding common stock: common stock and unvested restricted stock awards. Holders of restricted stock awards receive non-forfeitable dividends at the same rate as common stockholders and they both share equally in undistributed earnings. Therefore, under the two class method the difference in EPS is not significant for these participating securities. The Company’s calculation of basic and diluted earnings per share (“EPS”) for the three month periods ended March 31, 2016 and 2015 are reflected in the table below. THREE MONTHS ENDED (In thousands) MARCH 31, 2016 2015 BASIC EARNINGS PER SHARE Net income $ 1,509 $ 1,526 Weighted average shares outstanding 8,009 7,972 Net income per common share $ 0.19 $ 0.19 DILUTED EARNINGS PER SHARE Net income $ 1,509 $ 1,526 Weighted average shares outstanding 8,009 7,972 Effect of dilutive stock options 1 2 Effect of dilutive non-vested restricted shares 42 51 Weighted average shares of common stock and common stock equivalents 8,052 8,025 Net income per diluted common share $ 0.19 $ 0.19 During the three month period ended March 31, 2016, anti-dilutive weighted average options to purchase 28,511 shares of common stock were outstanding , with prices ranging from $9.95 to $15. 00. Anti-dilutive weighted average stock options of 54,250 were outstanding during the three month period of 2015, with prices ranging from $10.85 to $15.67. These options were not included in the computation of diluted EPS because the options’ exercise price was greater than the average market price of the common shares. These options begin to expire in 2016 . There were no anti-dilutive non-vested restricted stock grants for the three months ended March 31, 2016 and 2015. |
Note 3 - Acquisition (Tables)
Note 3 - Acquisition (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | (Dollars in thousands) Acquisition Date Assets: Cash and cash equivalents $ 30,804 Loans 42,831 Core deposit intangible 1,031 Deferred tax asset 2,651 Goodwill 662 Other assets 738 Total assets acquired $ 78,717 Liabilities: Deposits: Non-interest bearing $ 36,177 Interest bearing Transaction accounts 6,112 Savings accounts 15,727 Money market accounts 7,602 Other time accounts 5,507 Total deposits 71,125 Other liabilites 256 Total liabilities assumed $ 71,381 Merger consideration $ 7,336 |
Net Assets Acquired and Fair Value Adjustments, Business Acquisition [Table Text Block] | (Dollars in thousands) Acquisition Date Book value of net assets acquired from Mother Lode Bank $ 4,884 Fair value adjustments: Loans (2,960 ) Reversal of Allowance for Loan Loss 1,279 Core deposit intangible asset 1,031 Other assets & liabilities, net (210 ) Total purchase accounting adjustments $ (860 ) Deferred tax asset (tax effect of purchase accounting adjustments at 41.15%) 354 DTA Carryforward 2,296 Fair value of net assets acquired from Mother Lode Bank $ 6,674 Merger consideration 7,336 Less: fair value of net assets acquired (6,674 ) Goodwill $ 662 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-sale Securities [Table Text Block] | (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 33,823 $ 1,134 $ (45 ) $ 34,912 Collateralized mortgage obligations 2,566 18 (16 ) 2,568 Municipalities 70,926 2,700 (106 ) 73,520 SBA pools 799 0 (5 ) 794 Corporate debt 17,343 32 (244 ) 17,131 Asset backed securities 12,780 0 (511 ) 12,269 Mutual fund 3,197 0 (130 ) 3,067 $ 141,434 $ 3,884 $ (1,057 ) $ 144,261 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 31,815 $ 1,142 $ (89 ) $ 32,868 Collateralized mortgage obligations 2,729 17 (27 ) 2,719 Municipalities 66,535 2,248 (197 ) 68,586 SBA pools 811 0 (5 ) 806 Corporate debt 13,497 44 (121 ) 13,420 Asset backed securities 10,321 0 (183 ) 10,138 Mutual fund 3,172 0 (163 ) 3,009 $ 128,880 $ 3,451 $ (785 ) $ 131,546 |
Schedule of Unrealized Loss on Investments [Table Text Block] | (dollars in thousands) Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. agencies $ 7,099 $ (15 ) $ 1,817 $ (30 ) $ 8,916 $ (45 ) Collateralized mortgage obligations 0 0 1,232 (16 ) 1,232 (16 ) Municipalities 9,374 (46 ) 3,028 (60 ) 12,402 (106 ) SBA pools 0 0 794 (5 ) 794 (5 ) Corporate debt 13,287 (244 ) 0 0 13,287 (244 ) Asset backed securities 4,803 (84 ) 7,466 (427 ) 12,269 (511 ) Mutual fund 0 0 3,066 (130 ) 3,066 (130 ) Total temporarily impaired securities $ 34,563 $ (389 ) $ 17,403 $ (668 ) $ 51,966 $ (1,057 ) (dollars in thousands) Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. agencies $ 7,129 $ (30 ) $ 1,800 $ (59 ) $ 8,929 $ (89 ) Collateralized mortgage obligations 0 0 1,266 (27 ) 1,266 (27 ) Municipalities 11,451 (123 ) 3,680 (74 ) 15,131 (197 ) SBA pools 0 0 807 (5 ) 807 (5 ) Corporate debt 9,376 (121 ) 0 0 9,376 (121 ) Asset backed securities 5,351 (78 ) 4,787 (105 ) 10,138 (183 ) Mutual fund 0 0 3,009 (163 ) 3,009 (163 ) Total temporarily impaired securities $ 33,307 $ (352 ) $ 15,349 $ (433 ) $ 48,656 $ (785 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | (dollars in thousands) Amortized Fair Cost Value Available-for-sale securities: Due in one year or less $ 15,109 $ 15,594 Due after one year through five years 44,879 46,078 Due after five years through ten years 51,718 52,135 Due after ten years 29,728 30,454 $ 141,434 $ 144,261 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Note 5 - Loans (Tables) [Line Items] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (in thousands) March 31, 2016 December 31, 2015 Commercial real estate: Commercial real estate- construction $ 19,199 $ 19,363 Commercial real estate- mortgages 368,685 363,644 Land 9,520 10,239 Farmland 44,265 29,801 Commercial and industrial 72,715 63,776 Consumer 815 774 Consumer residential 32,983 32,588 Agriculture 20,045 20,847 Total loans 568,227 541,032 Less: Deferred loan fees and costs, net (3,097 ) (3,282 ) Allowance for loan losses (7,557 ) (7,356 ) Net loans $ 557,573 $ 530,394 |
Accounting for Certain Loans and Debt Securities Acquired in Transfer Disclosure [Text Block] | December 23, 2015 (in thousands) Purchased credit-impaired loans Other purchased loans Total Contractually required payments including interest $ 1,982 $ 44,007 $ 45,989 Less: nonaccretable difference (1,103 ) 0 (1,103 ) Cash flows expected to be collected (undiscounted) 879 44,007 44,886 Accretable yield (14 ) (2,041 ) (2,055 ) Fair value of purchased loans $ 865 $ 41,966 $ 42,831 |
Impaired Financing Receivables [Table Text Block] | (in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance March 31, 2016 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 2,795 380 2,068 2,448 680 Farmland 1,242 1,228 0 1,228 0 Commercial and Industrial 356 318 0 318 0 Consumer 0 0 0 0 0 Consumer residential 0 0 0 0 0 Agriculture 2,704 2,704 0 2,704 0 Total $ 7,097 $ 4,630 $ 2,068 $ 6,698 $ 680 December 31, 2015 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 3,060 0 2,739 2,739 722 Farmland 63 51 0 51 0 Commercial and Industrial 357 322 0 322 0 Consumer 0 0 0 0 0 Consumer residential 0 0 0 0 0 Agriculture 2,704 2,704 0 2,704 0 Total $ 6,184 $ 3,077 $ 2,739 $ 5,816 $ 722 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (in thousands) March 31, 2016 December 31, 2015 Commercial real estate: Land 2,448 2,739 Farmland 1,228 51 Commercial and industrial 318 322 Agriculture 2,704 2,704 Total non-accrual loans $ 6,698 $ 5,816 |
Past Due Financing Receivables [Table Text Block] | March 31, 2016 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Purchased Credit Impaired Loans Total Greater Than 90 Days Past Due and Still Accruing Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 19,199 $ 0 $ 19,199 $ 0 Commercial R.E. - mortgages 31 0 0 31 368,535 118 368,684 0 Land 0 0 2,068 2,068 7,184 269 9,521 0 Farmland 0 0 1,228 1,228 43,037 0 44,265 0 Commercial and industrial 1,306 0 310 1,616 70,641 458 72,715 0 Consumer 0 0 0 0 815 0 815 0 Consumer residential 0 0 0 0 32,983 0 32,983 0 Agriculture 0 0 2,704 2,704 17,341 0 20,045 0 Total $ 1,337 $ 0 $ 6,310 $ 7,647 $ 559,735 $ 845 $ 568,227 $ 0 December 31, 2015 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Purchased Credit Impaired Loans Total Greater Than 90 Days Past Due and Still Accruing Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 19,363 $ 0 $ 19,363 $ 0 Commercial R.E. - mortgages 0 0 0 0 363,526 118 363,644 0 Land 0 0 2,261 2,261 7,709 269 10,239 0 Farmland 1,182 0 51 1,233 28,568 0 29,801 0 Commercial and industrial 352 0 312 664 62,634 478 63,776 0 Consumer 0 0 0 0 774 0 774 0 Consumer residential 0 0 0 0 32,588 0 32,588 0 Agriculture 0 2,704 0 2,704 18,143 0 20,847 0 Total $ 1,534 $ 2,704 $ 2,624 $ 6,862 $ 533,305 $ 865 $ 541,032 $ 0 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | For the Three Months Ended (dollars in thousands) March 31, 2016 Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial real estate: Commercial R.E. - construction 1 $ 1,090 $ 1,090 Commercial R.E. - mortgages 0 0 0 Land 1 565 565 Farmland 0 0 0 Commercial and industrial 1 599 599 Consumer 0 0 0 Consumer residential 0 0 0 Agriculture 0 0 0 Total 3 $ 2,254 $ 2,254 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (in thousands) Commercial R.E. Construction Commercial R.E. Mortgages Land Farmland Commercial and Industrial Consumer Consumer Residential Agriculture Total March 31, 2016 Pass $ 18,095 $ 363,269 $ 5,993 $ 43,037 $ 65,889 $ 786 $ 32,928 $ 17,341 $ 547,338 Special mention - 3,633 80 - 4,597 - - - 8,310 Substandard 1,104 1,783 3,167 1,228 1,979 29 55 2,704 12,049 Doubtful - - 280 - 250 - - - 530 Total loans $ 19,199 $ 368,685 $ 9,520 $ 44,265 $ 72,715 $ 815 $ 32,983 $ 20,045 $ 568,227 December 31, 2015 Pass $ 18,312 $ 357,339 $ 6,358 $ 28,568 $ 55,957 $ 745 $ 32,532 $ 18,143 $ 517,954 Special mention - 4,389 110 - 6,153 - - - 10,652 Substandard 1,051 1,916 3,283 1,233 1,416 29 56 2,704 11,688 Doubtful - - 488 - 250 - - - 738 Total loans $ 19,363 $ 363,644 $ 10,239 $ 29,801 $ 63,776 $ 774 $ 32,588 $ 20,847 $ 541,032 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Allowance for Loan Losses For the Three Months Ended March 31, 2016 and 2015 (in thousands) Commercial Commercial Consumer Three Months Ended March 31, 2016 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 5,920 $ 627 $ 38 $ 426 $ 309 $ 36 $ 7,356 Charge-offs 0 0 (3 ) 0 0 0 (3 ) Recoveries 3 0 0 1 0 0 4 Provision for (reversal of) loan losses 75 93 9 (29 ) (7 ) 59 200 Ending balance $ 5,998 $ 720 $ 44 $ 398 $ 302 $ 95 $ 7,557 Three Months Ended March 31, 2015 Beginning balance $ 5,963 $ 720 $ 42 $ 388 $ 286 $ 135 $ 7,534 Charge-offs - - (3 ) - - - (3 ) Recoveries 1 - 2 - - - 3 (Reversal of) provision for loan losses (154 ) (35 ) 9 167 (105 ) (7 ) (125 ) Ending balance $ 5,810 $ 685 $ 50 $ 555 $ 181 $ 128 $ 7,409 (in thousands) Commercial Commercial Consumer March 31, 2016 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Allowance for loan losses for loans: Individually evaluated for impairment $ 680 $ 0 $ 0 $ 0 $ 0 $ 680 Collectively evaluated for impairment 5,318 720 44 398 302 95 6,877 $ 5,998 $ 720 $ 44 $ 398 $ 302 $ 95 $ 7,557 Ending gross loan balances: Individually evaluated for impairment $ 3,675 $ 318 $ 0 $ 0 $ 2,704 $ 0 $ 6,697 Individually evaluated purchased credit impaired loans 387 458 0 0 0 0 845 Collectively evaluated for impairment 437,607 71,939 815 32,983 17,341 0 560,685 $ 441,669 $ 72,715 $ 815 $ 32,983 $ 20,045 $ 0 $ 568,227 December 31, 2015 Allowance for loan losses for loans: Individually evaluated for impairment $ 722 $ 0 $ 0 $ 0 $ 0 $ 722 Collectively evaluated for impairment 5,198 627 38 426 309 36 6,634 $ 5,920 $ 627 $ 38 $ 426 $ 309 $ 36 $ 7,356 Ending gross loan balances: Individually evaluated for impairment $ 2,790 $ 322 $ 0 $ 0 $ 2,704 $ 0 $ 5,816 Individually evaluated purchased credit impaired loans 387 478 0 0 0 0 865 Collectively evaluated for impairment 419,870 62,976 774 32,588 18,143 0 534,351 $ 423,047 $ 63,776 $ 774 $ 32,588 $ 20,847 $ 0 $ 541,032 March 31, 2015 Allowance for loan losses for loans: Individually evaluated for impairment $ 862 $ 95 $ 0 $ 0 $ 0 $ 0 $ 957 Collectively evaluated for impairment 4,948 590 50 555 181 128 6,452 $ 5,810 $ 685 $ 50 $ 555 $ 181 $ 128 $ 7,409 Ending gross loan balances: Individually evaluated for impairment $ 3,050 $ 1,362 $ 0 $ 0 $ 0 $ 0 $ 4,412 Collectively evaluated for impairment 364,506 49,466 857 24,493 9,431 0 448,753 $ 367,556 $ 50,828 $ 857 $ 24,493 $ 9,431 $ 0 $ 453,165 |
Change in Allowance for Loan Losses [Table Text Block] | (in thousands) THREE MONTHS ENDED MARCH 31, 2016 2015 Balance, beginning of period $ 238 $ 218 Provision to operations for off balance sheet commitments 26 9 Balance, end of period $ 264 $ 227 |
Average Recorded Investment [Member] | |
Note 5 - Loans (Tables) [Line Items] | |
Impaired Financing Receivables [Table Text Block] | Average Recorded Investment for the (in thousands) Three Months Ended Three Months Ended March 31, 2015 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 Commercial R.E. - mortgages 0 648 Land 2,553 2,989 Farmland 502 69 Commercial and Industrial 319 849 Consumer 0 0 Consumer residential 0 0 Agriculture 2,704 0 Total $ 6,078 $ 4,555 |
Mother Lode Bank [Member] | |
Note 5 - Loans (Tables) [Line Items] | |
Impaired Financing Receivables [Table Text Block] | March 31, 2016 December 31, 2015 (in thousands) Unpaid principal balance Carrying value Unpaid principal balance Carrying value Commercial real estate: Commercial real estate- construction $ 0 $ 0 $ 0 $ 0 Commercial real estate- mortgages 196 118 196 118 Land 795 269 795 269 Farmland 0 0 0 0 Commercial and industrial 774 458 794 478 Consumer 0 0 0 0 Consumer residential 0 0 0 0 Agriculture 0 0 0 0 Total purchased credit-impaired loans $ 1,765 $ 845 $ 1,785 $ 865 |
Weighted Average [Member] | |
Note 5 - Loans (Tables) [Line Items] | |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2016 December 31, 2015 Weighted Average Risk Grade Weighted Average Risk Grade Commercial real estate: Commercial real estate - construction 3.19 3.72 Commercial real estate - mortgages 3.15 3.16 Land 4.57 4.58 Farmland 3.20 3.12 Commercial and industrial 3.44 3.57 Consumer 2.09 1.99 Consumer residential 3.01 3.01 Agriculture 3.40 3.39 Total gross loans 3.22 3.25 |
Note 8 - Financial Instrument21
Note 8 - Financial Instruments and Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Hierarchy (in thousands) Carrying Fair Valuation Amount Value Level Financial assets: Cash and cash equivalents $ 159,568 159,568 1 Restricted equity securities 3,716 3,716 2 Loans, net 557,573 563,237 3 Interest receivable 2,304 2,304 2 Financial liabilities: Deposits (882,440 ) (745,981 ) 3 Interest payable (29 ) (29 ) 2 Off-balance-sheet assets (liabilities): Commitments and standby letters of credit (980 ) 3 Hierarchy (in thousands) Carrying Fair Valuation Amount Value Level Financial assets: Cash and cash equivalents $ 190,603 $ 190,603 1 Restricted equity securities 3,716 3,716 2 Loans, net 530,394 537,761 3 Interest receivable 2,420 2,420 2 Financial liabilities: Deposits (814,691 ) (725,982 ) 3 Interest payable (36 ) (36 ) 2 Off-balance-sheet assets (liabilities): Commitments and standby letters of credit (917 ) 3 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair Value Measurements at March 31, 2016 Using (in thousands) March 31, 2016 Quoted Prices Significant Significant Assets and liabilities measured on a recurring basis: Available-for-sale securities: U.S. agencies $ 34,912 $ 0 $ 34,912 $ 0 Collateralized mortgage obligations 2,568 0 2,568 0 Municipalities 73,520 0 73,520 0 SBA pools 794 0 794 0 Corporate debt 17,131 0 17,131 0 Asset backed securities 12,269 0 12,269 0 Mutual fund 3,067 3,067 0 0 Assets and liabilities measured on a non-recurring basis: Impaired loans: Land $ 380 $ 0 $ 0 $ 380 Other real estate owned 2,066 0 0 2,066 Fair Value Measurements at December 31, 2015 Using (in thousands) December 31, Quoted Prices Significant Significant Assets and liabilities measured on a recurring basis: Available-for-sale securities U.S. agencies $ 32,868 $ 0 $ 32,868 $ 0 Collateralized mortgage obligations 2,719 0 2,719 0 Municipalities 68,586 0 68,586 0 SBA pools 806 0 806 0 Corporate debt 13,420 0 10,944 2,476 Asset backed securities 10,138 0 10,138 0 Mutual fund 3,009 3,009 0 0 Assets and liabilities measured on a non-recurring basis: Impaired loans: Land $ 1,965 $ 0 $ 0 $ 1,965 Other real estate owned $ 2,066 $ 0 $ 0 $ 2,066 |
Note 9 - Earnings Per Share (Ta
Note 9 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | THREE MONTHS ENDED (In thousands) MARCH 31, 2016 2015 BASIC EARNINGS PER SHARE Net income $ 1,509 $ 1,526 Weighted average shares outstanding 8,009 7,972 Net income per common share $ 0.19 $ 0.19 DILUTED EARNINGS PER SHARE Net income $ 1,509 $ 1,526 Weighted average shares outstanding 8,009 7,972 Effect of dilutive stock options 1 2 Effect of dilutive non-vested restricted shares 42 51 Weighted average shares of common stock and common stock equivalents 8,052 8,025 Net income per diluted common share $ 0.19 $ 0.19 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details) - Mother Lode Bank [Member] | Dec. 23, 2015USD ($) |
Note 1 - Basis of Presentation (Details) [Line Items] | |
Payments to Acquire Businesses, Gross | $ 7,336,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 78,717,000 |
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Total Deposits | $ 71,125,000 |
Note 3 - Acquisition (Details)
Note 3 - Acquisition (Details) | Dec. 23, 2015USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Jan. 29, 2016 |
Mother Lode Bank [Member] | ||||
Note 3 - Acquisition (Details) [Line Items] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||
Payments to Acquire Businesses, Gross | $ 7,336,000 | |||
Number of Branches Closed | 2 | |||
Goodwill | $ 662,000 | |||
Goodwill, Impairment Loss | $ 0 | |||
Amortization of Intangible Assets | $ 42,000 | |||
Business Combination, Acquisition Related Costs | 58,000 | |||
Core Deposits [Member] | ||||
Note 3 - Acquisition (Details) [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | |||
Core Deposits [Member] | Mother Lode Bank [Member] | ||||
Note 3 - Acquisition (Details) [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 1,031,000 | |||
Impairment of Intangible Assets (Excluding Goodwill) | $ 0 | |||
Minimum [Member] | Mother Lode Bank [Member] | ||||
Note 3 - Acquisition (Details) [Line Items] | ||||
Fair Value Inputs, Prepayment Rate | 0.00% | |||
Maximum [Member] | Mother Lode Bank [Member] | ||||
Note 3 - Acquisition (Details) [Line Items] | ||||
Fair Value Inputs, Prepayment Rate | 5.00% |
Note 3 - Acquisition (Details)
Note 3 - Acquisition (Details) - Estimated Fair Value of Assets and Liabilities Acquired | Dec. 23, 2015USD ($) |
Assets: | |
Loans | $ 45,989,000 |
Mother Lode Bank [Member] | |
Assets: | |
Cash and cash equivalents | 30,804,000 |
Loans | 42,831,000 |
Deferred tax asset | 2,651,000 |
Goodwill | 662,000 |
Other assets | 738,000 |
Total assets acquired | 78,717,000 |
Deposits: | |
Non-interest bearing | 36,177,000 |
Interest bearing | |
Transaction accounts | 6,112,000 |
Savings accounts | 15,727,000 |
Money market accounts | 7,602,000 |
Other time accounts | 5,507,000 |
Total deposits | 71,125,000 |
Other liabilites | 256,000 |
Total liabilities assumed | 71,381,000 |
Merger consideration | 7,336,000 |
Core Deposits [Member] | Mother Lode Bank [Member] | |
Assets: | |
Core deposit intangible | $ 1,031,000 |
Note 3 - Acquisition (Details26
Note 3 - Acquisition (Details) - Net Assets Acquired and Estimated Fair Value Adjustments - Mother Lode Bank [Member] | Dec. 23, 2015USD ($) |
Note 3 - Acquisition (Details) - Net Assets Acquired and Estimated Fair Value Adjustments [Line Items] | |
Book value of net assets acquired from Mother Lode Bank | $ 4,884,000 |
Fair value adjustments: | |
Fair value adjustments | (860,000) |
Deferred tax asset (tax effect of purchase accounting adjustments at 41.15%) | 354,000 |
DTA Carryforward | 2,296,000 |
Fair value of net assets acquired from Mother Lode Bank | 6,674,000 |
Merger consideration | 7,336,000 |
Less: fair value of net assets acquired | (6,674,000) |
Goodwill | 662,000 |
Loans Receivable [Member] | |
Fair value adjustments: | |
Fair value adjustments | (2,960,000) |
Allowance for Loan Loss [Member] | |
Fair value adjustments: | |
Fair value adjustments | 1,279,000 |
Finite-Lived Intangible Assets [Member] | |
Fair value adjustments: | |
Fair value adjustments | 1,031,000 |
Other Assets and Liabilites, Net [Member] | |
Fair value adjustments: | |
Fair value adjustments | $ (210,000) |
Note 3 - Acquisition (Details27
Note 3 - Acquisition (Details) - Net Assets Acquired and Estimated Fair Value Adjustments (Parentheticals) | Dec. 23, 2015 |
Mother Lode Bank [Member] | |
Note 3 - Acquisition (Details) - Net Assets Acquired and Estimated Fair Value Adjustments (Parentheticals) [Line Items] | |
Deferred tax asset, purchase accounting adjustments | 41.15% |
Note 4 - Securities (Details)
Note 4 - Securities (Details) | 3 Months Ended | ||
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2015USD ($) | |
Note 4 - Securities (Details) [Line Items] | |||
Available-for-sale Securities, Gross Realized Gains (in Dollars) | $ 6,000 | $ 109,000 | |
Number of Available-for-sale Securities Sold | 0 | 2 | |
Available-for-sale Securities, Realized Losses, Excluding Other than Temporary Impairments (in Dollars) | $ 32,000 | ||
Number of Available-for-sale Securities Sold Resulting in Losses | 1 | ||
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments (in Dollars) | $ 13,000 | ||
Security Owned and Pledged as Collateral, Fair Value (in Dollars) | $ 81,063,000 | $ 65,902,000 | |
US Government Agencies Debt Securities [Member] | |||
Note 4 - Securities (Details) [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 1 | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 4 | ||
Collateralized Mortgage Obligations [Member] | |||
Note 4 - Securities (Details) [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 1 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Note 4 - Securities (Details) [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 5 | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 8 | ||
SBA Pool [Member] | |||
Note 4 - Securities (Details) [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 2 | ||
Asset-backed Securities [Member] | |||
Note 4 - Securities (Details) [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 3 | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 3 | ||
Mutual Fund [Member] | |||
Note 4 - Securities (Details) [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 1 | ||
Corporate Debt Securities [Member] | |||
Note 4 - Securities (Details) [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 10 |
Note 4 - Securities (Details) -
Note 4 - Securities (Details) - Amortized Cost and Estimated Fair Values of Debt Securities - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Available-for-sale securities: | ||
Available-for-sale securities: Amortized Cost | $ 141,434 | $ 128,880 |
Available-for-sale securities: Gross Unrealized Gains | 3,884 | 3,451 |
Available-for-sale securities: Gross Unrealized Losses | (1,057) | (785) |
Available-for-sale securities: Fair Market Value | 144,261 | 131,546 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities: Amortized Cost | 33,823 | 31,815 |
Available-for-sale securities: Gross Unrealized Gains | 1,134 | 1,142 |
Available-for-sale securities: Gross Unrealized Losses | (45) | (89) |
Available-for-sale securities: Fair Market Value | 34,912 | 32,868 |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities: Amortized Cost | 2,566 | 2,729 |
Available-for-sale securities: Gross Unrealized Gains | 18 | 17 |
Available-for-sale securities: Gross Unrealized Losses | (16) | (27) |
Available-for-sale securities: Fair Market Value | 2,568 | 2,719 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities: Amortized Cost | 70,926 | 66,535 |
Available-for-sale securities: Gross Unrealized Gains | 2,700 | 2,248 |
Available-for-sale securities: Gross Unrealized Losses | (106) | (197) |
Available-for-sale securities: Fair Market Value | 73,520 | 68,586 |
SBA Pool [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities: Amortized Cost | 799 | 811 |
Available-for-sale securities: Gross Unrealized Gains | 0 | 0 |
Available-for-sale securities: Gross Unrealized Losses | (5) | (5) |
Available-for-sale securities: Fair Market Value | 794 | 806 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities: Amortized Cost | 17,343 | 13,497 |
Available-for-sale securities: Gross Unrealized Gains | 32 | 44 |
Available-for-sale securities: Gross Unrealized Losses | (244) | (121) |
Available-for-sale securities: Fair Market Value | 17,131 | 13,420 |
Asset-backed Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities: Amortized Cost | 12,780 | 10,321 |
Available-for-sale securities: Gross Unrealized Gains | 0 | 0 |
Available-for-sale securities: Gross Unrealized Losses | (511) | (183) |
Available-for-sale securities: Fair Market Value | 12,269 | 10,138 |
Mutual Fund [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities: Amortized Cost | 3,197 | 3,172 |
Available-for-sale securities: Gross Unrealized Gains | 0 | 0 |
Available-for-sale securities: Gross Unrealized Losses | (130) | (163) |
Available-for-sale securities: Fair Market Value | $ 3,067 | $ 3,009 |
Note 4 - Securities (Details)30
Note 4 - Securities (Details) - Gross Unrealized Losses and Fair Value of Investments - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Note 4 - Securities (Details) - Gross Unrealized Losses and Fair Value of Investments [Line Items] | ||
Description of Securities- Fair Value Less than 12 months | $ 34,563 | $ 33,307 |
Description of Securities-Unrealized Loss Less than 12 months | (389) | (352) |
Description of Securities-Fair Value 12 months or more | 17,403 | 15,349 |
Description of Securities-Unrealized Loss 12 months or more | (668) | (433) |
Description of Securities-Fair Value | 51,966 | 48,656 |
Description of Securities-Unrealized Loss | (1,057) | (785) |
US Government Agencies Debt Securities [Member] | ||
Note 4 - Securities (Details) - Gross Unrealized Losses and Fair Value of Investments [Line Items] | ||
Description of Securities- Fair Value Less than 12 months | 7,099 | 7,129 |
Description of Securities-Unrealized Loss Less than 12 months | (15) | (30) |
Description of Securities-Fair Value 12 months or more | 1,817 | 1,800 |
Description of Securities-Unrealized Loss 12 months or more | (30) | (59) |
Description of Securities-Fair Value | 8,916 | 8,929 |
Description of Securities-Unrealized Loss | (45) | (89) |
Collateralized Mortgage Obligations [Member] | ||
Note 4 - Securities (Details) - Gross Unrealized Losses and Fair Value of Investments [Line Items] | ||
Description of Securities- Fair Value Less than 12 months | 0 | 0 |
Description of Securities-Unrealized Loss Less than 12 months | 0 | 0 |
Description of Securities-Fair Value 12 months or more | 1,232 | 1,266 |
Description of Securities-Unrealized Loss 12 months or more | (16) | (27) |
Description of Securities-Fair Value | 1,232 | 1,266 |
Description of Securities-Unrealized Loss | (16) | (27) |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 4 - Securities (Details) - Gross Unrealized Losses and Fair Value of Investments [Line Items] | ||
Description of Securities- Fair Value Less than 12 months | 9,374 | 11,451 |
Description of Securities-Unrealized Loss Less than 12 months | (46) | (123) |
Description of Securities-Fair Value 12 months or more | 3,028 | 3,680 |
Description of Securities-Unrealized Loss 12 months or more | (60) | (74) |
Description of Securities-Fair Value | 12,402 | 15,131 |
Description of Securities-Unrealized Loss | (106) | (197) |
SBA Pool [Member] | ||
Note 4 - Securities (Details) - Gross Unrealized Losses and Fair Value of Investments [Line Items] | ||
Description of Securities- Fair Value Less than 12 months | 0 | 0 |
Description of Securities-Unrealized Loss Less than 12 months | 0 | 0 |
Description of Securities-Fair Value 12 months or more | 794 | 807 |
Description of Securities-Unrealized Loss 12 months or more | (5) | (5) |
Description of Securities-Fair Value | 794 | 807 |
Description of Securities-Unrealized Loss | (5) | (5) |
Corporate Debt Securities [Member] | ||
Note 4 - Securities (Details) - Gross Unrealized Losses and Fair Value of Investments [Line Items] | ||
Description of Securities- Fair Value Less than 12 months | 13,287 | 9,376 |
Description of Securities-Unrealized Loss Less than 12 months | (244) | (121) |
Description of Securities-Fair Value 12 months or more | 0 | 0 |
Description of Securities-Unrealized Loss 12 months or more | 0 | 0 |
Description of Securities-Fair Value | 13,287 | 9,376 |
Description of Securities-Unrealized Loss | (244) | (121) |
Asset-backed Securities [Member] | ||
Note 4 - Securities (Details) - Gross Unrealized Losses and Fair Value of Investments [Line Items] | ||
Description of Securities- Fair Value Less than 12 months | 4,803 | 5,351 |
Description of Securities-Unrealized Loss Less than 12 months | (84) | (78) |
Description of Securities-Fair Value 12 months or more | 7,466 | 4,787 |
Description of Securities-Unrealized Loss 12 months or more | (427) | (105) |
Description of Securities-Fair Value | 12,269 | 10,138 |
Description of Securities-Unrealized Loss | (511) | (183) |
Mutual Fund [Member] | ||
Note 4 - Securities (Details) - Gross Unrealized Losses and Fair Value of Investments [Line Items] | ||
Description of Securities- Fair Value Less than 12 months | 0 | 0 |
Description of Securities-Unrealized Loss Less than 12 months | 0 | 0 |
Description of Securities-Fair Value 12 months or more | 3,066 | 3,009 |
Description of Securities-Unrealized Loss 12 months or more | (130) | (163) |
Description of Securities-Fair Value | 3,066 | 3,009 |
Description of Securities-Unrealized Loss | $ (130) | $ (163) |
Note 4 - Securities (Details)31
Note 4 - Securities (Details) - Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity or Call Date - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Available-for-sale securities: | ||
Due in one year or less | $ 15,109 | |
Due in one year or less | 15,594 | |
Due after one year through five years | 44,879 | |
Due after one year through five years | 46,078 | |
Due after five years through ten years | 51,718 | |
Due after five years through ten years | 52,135 | |
Due after ten years | 29,728 | |
Due after ten years | 30,454 | |
141,434 | $ 128,880 | |
$ 144,261 |
Note 5 - Loans (Details)
Note 5 - Loans (Details) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2015USD ($) | |
Note 5 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Percentage of Outstanding Principal Balance Secured by Owner Occupied Properties | 40.40% | 44.30% | |
Underwriting Standards, Loan to Value Percentage | 80.00% | ||
Underwriting Standards, Housing Percentage | 36.00% | ||
Underwriting Standards, Total Debt Ratio | 42.00% | ||
Certain Loans Acquired in Transfer, Accretable Yield (in Dollars) | $ 14,000 | ||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans (in Dollars) | $ 149,000 | $ 82,000 | |
Financing Receivable, Modifications, Number of Contracts | 5 | 5 | |
Financing Receivable, Modifications, Recorded Investment (in Dollars) | $ 2,765,000 | $ 3,060,000 | |
Allowance for Credit Losses, Change in Method of Calculating Impairment (in Dollars) | 680,000 | 722,000 | |
Allowance for Loan and Lease Losses, Period Increase (Decrease) (in Dollars) | $ 0 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down (in Dollars) | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |
Financing Receivable Modifications, Period Contractually Past Due for Loan to Be Considered in Payment Default | 90 days | ||
Loans and Leases Receivable, Minimum Cash Collateral Percent | 110.00% | ||
Loans and Leases Receivable, Gross (in Dollars) | $ 568,227,000 | $ 453,165,000 | 541,032,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged (in Dollars) | $ 568,227,000 | 541,032,000 | |
Extended Maturity [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 3 | 0 | |
Substandard [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category | 40.00% | ||
Loans and Leases Receivable, Gross (in Dollars) | $ 12,049,000 | 11,688,000 | |
Doubtful [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category | 25.00% | ||
Loans and Leases Receivable, Gross (in Dollars) | $ 530,000 | 738,000 | |
Unlikely to be Collected Financing Receivable [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category | 35.00% | ||
Loans and Leases Receivable, Gross (in Dollars) | $ 0 | 0 | |
Minimum [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Financing Receivable, Rating Example Disbursement to Unsecured Creditors by Illusory Company in Liquidation, Percentage | 40.00% | ||
Maximum [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Financing Receivable, Rating Example Disbursement to Unsecured Creditors by Illusory Company in Liquidation, Percentage | 65.00% | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 78.00% | ||
Loans and Leases Receivable, Gross (in Dollars) | $ 441,669,000 | $ 367,556,000 | 423,047,000 |
Commercial Portfolio Segment [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 13.00% | ||
Loans and Leases Receivable, Gross (in Dollars) | $ 72,715,000 | 50,828,000 | 63,776,000 |
Commercial Portfolio Segment [Member] | Extended Maturity [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Gross (in Dollars) | $ 1,979,000 | 1,416,000 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Gross (in Dollars) | $ 250,000 | 250,000 | |
Residential Real Estate and Other Consumer Loans [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 6.00% | ||
Agriculture [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 3.00% | ||
Loans and Leases Receivable, Gross (in Dollars) | $ 20,045,000 | $ 9,431,000 | 20,847,000 |
Agriculture [Member] | Extended Maturity [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 0 | ||
Agriculture [Member] | Substandard [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Gross (in Dollars) | $ 2,704,000 | 2,704,000 | |
Agriculture [Member] | Doubtful [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Gross (in Dollars) | $ 0 | $ 0 |
Note 5 - Loans (Details) - Loan
Note 5 - Loans (Details) - Loans - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Commercial real estate: | ||||
Loans | $ 568,227 | $ 541,032 | $ 453,165 | |
Less: | ||||
Deferred loan fees and costs, net | (3,097) | (3,282) | ||
Allowance for loan losses | (7,557) | (7,356) | (7,409) | $ (7,534) |
Net loans | 557,573 | 530,394 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Commercial real estate: | ||||
Loans | 441,669 | 423,047 | 367,556 | |
Less: | ||||
Allowance for loan losses | (5,998) | (5,920) | (5,810) | (5,963) |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Commercial real estate: | ||||
Loans | 19,199 | 19,363 | ||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||||
Commercial real estate: | ||||
Loans | 368,685 | 363,644 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||||
Commercial real estate: | ||||
Loans | 9,520 | 10,239 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||
Commercial real estate: | ||||
Loans | 44,265 | 29,801 | ||
Commercial Portfolio Segment [Member] | ||||
Commercial real estate: | ||||
Loans | 72,715 | 63,776 | 50,828 | |
Less: | ||||
Allowance for loan losses | (720) | (627) | (685) | (720) |
Consumer Portfolio Segment [Member] | ||||
Commercial real estate: | ||||
Loans | 815 | 774 | 857 | |
Less: | ||||
Allowance for loan losses | (44) | (38) | (50) | (42) |
Residential Portfolio Segment [Member] | ||||
Commercial real estate: | ||||
Loans | 32,983 | 32,588 | 24,493 | |
Less: | ||||
Allowance for loan losses | (398) | (426) | (555) | (388) |
Agriculture [Member] | ||||
Commercial real estate: | ||||
Loans | 20,045 | 20,847 | 9,431 | |
Less: | ||||
Allowance for loan losses | $ (302) | $ (309) | $ (181) | $ (286) |
Note 5 - Loans (Details) - Purc
Note 5 - Loans (Details) - Purchased Credit-impaired and Other Loans, Fair Value $ in Thousands | Dec. 23, 2015USD ($) |
Note 5 - Loans (Details) - Purchased Credit-impaired and Other Loans, Fair Value [Line Items] | |
Contractually required payments including interest | $ 45,989 |
Less: nonaccretable difference | (1,103) |
Cash flows expected to be collected (undiscounted) | 44,886 |
Accretable yield | (2,055) |
Fair value of purchased loans | 42,831 |
Mother Lode Bank [Member] | |
Note 5 - Loans (Details) - Purchased Credit-impaired and Other Loans, Fair Value [Line Items] | |
Contractually required payments including interest | 42,831 |
Mother Lode Bank [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |
Note 5 - Loans (Details) - Purchased Credit-impaired and Other Loans, Fair Value [Line Items] | |
Contractually required payments including interest | 1,982 |
Less: nonaccretable difference | (1,103) |
Cash flows expected to be collected (undiscounted) | 879 |
Accretable yield | (14) |
Fair value of purchased loans | 865 |
Mother Lode Bank [Member] | Other Purchased Loans [Member] | |
Note 5 - Loans (Details) - Purchased Credit-impaired and Other Loans, Fair Value [Line Items] | |
Contractually required payments including interest | 44,007 |
Less: nonaccretable difference | 0 |
Cash flows expected to be collected (undiscounted) | 44,007 |
Accretable yield | (2,041) |
Fair value of purchased loans | $ 41,966 |
Note 5 - Loans (Details) - Outs
Note 5 - Loans (Details) - Outstanding Balance and Related Carrying Value of PCI - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | $ 7,097 | $ 6,184 | |
Carrying value | 568,227 | 541,032 | $ 453,165 |
Mother Lode Bank [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 1,765 | 1,785 | |
Carrying value | 845 | 865 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Carrying value | 441,669 | 423,047 | 367,556 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 0 | 0 | |
Carrying value | 19,199 | 19,363 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 0 | 0 | |
Carrying value | 368,685 | 363,644 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 2,795 | 3,060 | |
Carrying value | 9,520 | 10,239 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 1,242 | ||
Carrying value | 44,265 | 29,801 | |
Commercial Real Estate Portfolio Segment [Member] | Mother Lode Bank [Member] | Construction Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 0 | 0 | |
Carrying value | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Mother Lode Bank [Member] | Mortgage Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 196 | 196 | |
Carrying value | 118 | 118 | |
Commercial Real Estate Portfolio Segment [Member] | Mother Lode Bank [Member] | Land Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 795 | 795 | |
Carrying value | 269 | 269 | |
Commercial Real Estate Portfolio Segment [Member] | Mother Lode Bank [Member] | Farmland Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 0 | 0 | |
Carrying value | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 356 | 357 | |
Carrying value | 72,715 | 63,776 | 50,828 |
Commercial Portfolio Segment [Member] | Mother Lode Bank [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 774 | 794 | |
Carrying value | 458 | 478 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 0 | 0 | |
Carrying value | 815 | 774 | 857 |
Consumer Portfolio Segment [Member] | Mother Lode Bank [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 0 | 0 | |
Carrying value | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 0 | 0 | |
Carrying value | 32,983 | 32,588 | 24,493 |
Residential Portfolio Segment [Member] | Mother Lode Bank [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 0 | 0 | |
Carrying value | 0 | 0 | |
Agriculture [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 2,704 | 2,704 | |
Carrying value | 20,045 | 20,847 | $ 9,431 |
Agriculture [Member] | Mother Lode Bank [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 0 | 0 | |
Carrying value | $ 0 | $ 0 |
Note 5 - Loans (Details) - Non
Note 5 - Loans (Details) - Non Accrual Loans - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | |
Commercial real estate: | |||
Non Accrual Loans | [1] | $ 6,698 | $ 5,816 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | |||
Commercial real estate: | |||
Non Accrual Loans | [1] | 2,448 | 2,739 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Commercial real estate: | |||
Non Accrual Loans | [1] | 1,228 | 51 |
Commercial Portfolio Segment [Member] | |||
Commercial real estate: | |||
Non Accrual Loans | [1] | 318 | 322 |
Agriculture [Member] | |||
Commercial real estate: | |||
Non Accrual Loans | [1] | $ 2,704 | $ 2,704 |
[1] | Excluded from the above non-accrual loan table are the carrying values of Purchased Credit Impaired loans acquired in the MLB Acquisition. |
Note 5 - Loans (Details) - Agin
Note 5 - Loans (Details) - Aging of Past Due Loans - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | $ 7,647 | $ 6,862 | ||
Current | 559,735 | 533,305 | ||
Purchased credit impaired loans | [1] | 6,698 | 5,816 | |
Total | 568,227 | 541,032 | $ 453,165 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Purchased credit impaired loans | 845 | 865 | ||
Financing Receivables, 1 to 29 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 1,337 | 1,534 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 2,704 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 6,310 | 2,624 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total | 441,669 | 423,047 | 367,556 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Current | 19,199 | 19,363 | ||
Purchased credit impaired loans | 0 | 0 | ||
Total | 19,199 | 19,363 | ||
Greater than 90 days past due and still accruing | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Purchased credit impaired loans | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 31 | 0 | ||
Current | 368,535 | 363,526 | ||
Purchased credit impaired loans | 0 | 0 | ||
Total | 368,685 | 363,644 | ||
Greater than 90 days past due and still accruing | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Purchased credit impaired loans | 118 | 118 | ||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 31 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 2,068 | 2,261 | ||
Current | 7,184 | 7,709 | ||
Purchased credit impaired loans | 2,448 | 2,739 | ||
Total | 9,520 | 10,239 | ||
Greater than 90 days past due and still accruing | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Purchased credit impaired loans | 269 | 269 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 2,068 | 2,261 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 1,228 | 1,233 | ||
Current | 43,037 | 28,568 | ||
Purchased credit impaired loans | [1] | 1,228 | 51 | |
Total | 44,265 | 29,801 | ||
Greater than 90 days past due and still accruing | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Purchased credit impaired loans | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 1,182 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 1,228 | 51 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 1,616 | 664 | ||
Current | 70,641 | 62,634 | ||
Purchased credit impaired loans | [1] | 318 | 322 | |
Total | 72,715 | 63,776 | 50,828 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Purchased credit impaired loans | 458 | 478 | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 1,306 | 352 | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 310 | 312 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Current | 815 | 774 | ||
Purchased credit impaired loans | 0 | 0 | ||
Total | 815 | 774 | 857 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Purchased credit impaired loans | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Residential Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Current | 32,983 | 32,588 | ||
Purchased credit impaired loans | 0 | 0 | ||
Total | 32,983 | 32,588 | 24,493 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Residential Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Purchased credit impaired loans | 0 | 0 | ||
Residential Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Agriculture [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 2,704 | 2,704 | ||
Current | 17,341 | 18,143 | ||
Purchased credit impaired loans | [1] | 2,704 | 2,704 | |
Total | 20,045 | 20,847 | $ 9,431 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Purchased credit impaired loans | 0 | 0 | ||
Agriculture [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 0 | ||
Agriculture [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | 0 | 2,704 | ||
Agriculture [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due | $ 2,704 | $ 0 | ||
[1] | Excluded from the above non-accrual loan table are the carrying values of Purchased Credit Impaired loans acquired in the MLB Acquisition. |
Note 5 - Loans (Details) - Impa
Note 5 - Loans (Details) - Impaired Loans - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid contractual principal | $ 7,097 | $ 6,184 | |
Recorded investment with no allowance | 4,630 | 3,077 | |
Recorded investment with allowance | 2,068 | 2,739 | |
Total recorded investment | [1] | 6,698 | 5,816 |
Related Allowance | 680 | 722 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid contractual principal | 0 | 0 | |
Recorded investment with no allowance | 0 | 0 | |
Recorded investment with allowance | 0 | 0 | |
Total recorded investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid contractual principal | 0 | 0 | |
Recorded investment with no allowance | 0 | 0 | |
Recorded investment with allowance | 0 | 0 | |
Total recorded investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid contractual principal | 2,795 | 3,060 | |
Recorded investment with no allowance | 380 | 0 | |
Recorded investment with allowance | 2,068 | 2,739 | |
Total recorded investment | 2,448 | 2,739 | |
Related Allowance | 680 | 722 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid contractual principal | 1,242 | ||
Recorded investment with no allowance | 1,228 | ||
Recorded investment with allowance | 0 | ||
Total recorded investment | [1] | 1,228 | 51 |
Related Allowance | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Agriculture [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid contractual principal | 63 | ||
Recorded investment with no allowance | 51 | ||
Recorded investment with allowance | 0 | ||
Total recorded investment | 51 | ||
Related Allowance | 0 | ||
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid contractual principal | 356 | 357 | |
Recorded investment with no allowance | 318 | 322 | |
Recorded investment with allowance | 0 | 0 | |
Total recorded investment | [1] | 318 | 322 |
Related Allowance | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid contractual principal | 0 | 0 | |
Recorded investment with no allowance | 0 | 0 | |
Recorded investment with allowance | 0 | 0 | |
Total recorded investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid contractual principal | 0 | 0 | |
Recorded investment with no allowance | 0 | 0 | |
Recorded investment with allowance | 0 | 0 | |
Total recorded investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Agriculture [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid contractual principal | 2,704 | 2,704 | |
Recorded investment with no allowance | 2,704 | 2,704 | |
Recorded investment with allowance | 0 | 0 | |
Total recorded investment | [1] | 2,704 | 2,704 |
Related Allowance | $ 0 | $ 0 | |
[1] | Excluded from the above non-accrual loan table are the carrying values of Purchased Credit Impaired loans acquired in the MLB Acquisition. |
Note 5 - Loans (Details) - Im39
Note 5 - Loans (Details) - Impaired Loans, Average Recorded Investment - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | $ 6,078 | $ 4,555 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 0 | 648 |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 2,553 | 2,989 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 502 | 69 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 319 | 849 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 0 | 0 |
Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | $ 2,704 | $ 0 |
Note 5 - Loans (Details) - Trou
Note 5 - Loans (Details) - Troubled Debt Restructurings $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016USD ($) | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable, Modifications [Line Items] | |||
Number of loans | 5 | 5 | |
Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans | 3 | 0 | |
Pre-modification outstanding recorded investment | $ 2,254 | ||
Post-modification outstanding recorded investment | $ 2,254 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans | 1 | ||
Pre-modification outstanding recorded investment | $ 1,090 | ||
Post-modification outstanding recorded investment | $ 1,090 | ||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans | 0 | ||
Pre-modification outstanding recorded investment | $ 0 | ||
Post-modification outstanding recorded investment | $ 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans | 1 | ||
Pre-modification outstanding recorded investment | $ 565 | ||
Post-modification outstanding recorded investment | $ 565 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans | 0 | ||
Pre-modification outstanding recorded investment | $ 0 | ||
Post-modification outstanding recorded investment | $ 0 | ||
Commercial Portfolio Segment [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans | 1 | ||
Pre-modification outstanding recorded investment | $ 599 | ||
Post-modification outstanding recorded investment | $ 599 | ||
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans | 0 | ||
Pre-modification outstanding recorded investment | $ 0 | ||
Post-modification outstanding recorded investment | $ 0 | ||
Residential Portfolio Segment [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans | 0 | ||
Pre-modification outstanding recorded investment | $ 0 | ||
Post-modification outstanding recorded investment | $ 0 | ||
Agriculture [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans | 0 | ||
Pre-modification outstanding recorded investment | $ 0 | ||
Post-modification outstanding recorded investment | $ 0 |
Note 5 - Loans (Details) - Weig
Note 5 - Loans (Details) - Weighted Average Risk Grades of Loan Portfolio | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Commercial real estate: | ||
Weighted average risk grade of loans | 3.22 | 3.25 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Commercial real estate: | ||
Weighted average risk grade of loans | 3.19 | 3.72 |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||
Commercial real estate: | ||
Weighted average risk grade of loans | 3.15 | 3.16 |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Commercial real estate: | ||
Weighted average risk grade of loans | 4.57 | 4.58 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Commercial real estate: | ||
Weighted average risk grade of loans | 3.20 | 3.12 |
Commercial Portfolio Segment [Member] | ||
Commercial real estate: | ||
Weighted average risk grade of loans | 3.44 | 3.57 |
Consumer Portfolio Segment [Member] | ||
Commercial real estate: | ||
Weighted average risk grade of loans | 2.09 | 1.99 |
Residential Portfolio Segment [Member] | ||
Commercial real estate: | ||
Weighted average risk grade of loans | 3.01 | 3.01 |
Agriculture [Member] | ||
Commercial real estate: | ||
Weighted average risk grade of loans | 3.40 | 3.39 |
Note 5 - Loans (Details) - Lo42
Note 5 - Loans (Details) - Loans by Credit Quality Indicator - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | $ 568,227 | $ 541,032 | $ 453,165 |
Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 547,338 | 517,954 | |
Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 8,310 | 10,652 | |
Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 12,049 | 11,688 | |
Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 530 | 738 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 441,669 | 423,047 | 367,556 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 19,199 | 19,363 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 18,095 | 18,312 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,104 | 1,051 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 368,685 | 363,644 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 363,269 | 357,339 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 3,633 | 4,389 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,783 | 1,916 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 9,520 | 10,239 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 5,993 | 6,358 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 80 | 110 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 3,167 | 3,283 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 280 | 488 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 44,265 | 29,801 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 43,037 | 28,568 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,228 | 1,233 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 72,715 | 63,776 | 50,828 |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 65,889 | 55,957 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 4,597 | 6,153 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,979 | 1,416 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 250 | 250 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 815 | 774 | 857 |
Consumer Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 786 | 745 | |
Consumer Portfolio Segment [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 29 | 29 | |
Consumer Portfolio Segment [Member] | Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 32,983 | 32,588 | 24,493 |
Residential Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 32,928 | 32,532 | |
Residential Portfolio Segment [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 0 | |
Residential Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 55 | 56 | |
Residential Portfolio Segment [Member] | Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 0 | |
Agriculture [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 20,045 | 20,847 | $ 9,431 |
Agriculture [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 17,341 | 18,143 | |
Agriculture [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 0 | |
Agriculture [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 2,704 | 2,704 | |
Agriculture [Member] | Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | $ 0 | $ 0 |
Note 5 - Loans (Details) - Allo
Note 5 - Loans (Details) - Allowance for Loan Losses - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | $ 7,356 | $ 7,534 | |
Charge-offs | (3) | (3) | |
Recoveries | 4 | 3 | |
Provision for (reversal of) loan losses | 200 | (125) | |
Ending balance | 7,557 | 7,409 | |
Ending gross loan balances: | |||
Individually evaluated for impairment | 6,697 | 4,412 | $ 5,816 |
Collectively evaluated for impairment | 560,685 | 448,753 | 534,351 |
Total | 568,227 | 453,165 | 541,032 |
Allowance for loan losses for loans: | |||
Individually evaluated for impairment, allowance for loan losses | 680 | 957 | 722 |
Collectively evaluated for impairment, allowance for loan losses | 6,877 | 6,452 | 6,634 |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Ending gross loan balances: | |||
Individually evaluated for impairment | 845 | 865 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 5,920 | 5,963 | |
Charge-offs | 0 | ||
Recoveries | 3 | 1 | |
Provision for (reversal of) loan losses | 75 | (154) | |
Ending balance | 5,998 | 5,810 | |
Ending gross loan balances: | |||
Individually evaluated for impairment | 3,675 | 3,050 | 2,790 |
Collectively evaluated for impairment | 437,607 | 364,506 | 419,870 |
Total | 441,669 | 367,556 | 423,047 |
Allowance for loan losses for loans: | |||
Individually evaluated for impairment, allowance for loan losses | 680 | 862 | 722 |
Collectively evaluated for impairment, allowance for loan losses | 5,318 | 4,948 | 5,198 |
Commercial Real Estate Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Ending gross loan balances: | |||
Individually evaluated for impairment | 387 | 387 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 627 | 720 | |
Charge-offs | 0 | ||
Recoveries | 0 | ||
Provision for (reversal of) loan losses | 93 | (35) | |
Ending balance | 720 | 685 | |
Ending gross loan balances: | |||
Individually evaluated for impairment | 318 | 1,362 | 322 |
Collectively evaluated for impairment | 71,939 | 49,466 | 62,976 |
Total | 72,715 | 50,828 | 63,776 |
Allowance for loan losses for loans: | |||
Individually evaluated for impairment, allowance for loan losses | 0 | 95 | 0 |
Collectively evaluated for impairment, allowance for loan losses | 720 | 590 | 627 |
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Ending gross loan balances: | |||
Individually evaluated for impairment | 458 | 478 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 38 | 42 | |
Charge-offs | (3) | (3) | |
Recoveries | 0 | 2 | |
Provision for (reversal of) loan losses | 9 | 9 | |
Ending balance | 44 | 50 | |
Ending gross loan balances: | |||
Individually evaluated for impairment | 0 | 0 | 0 |
Collectively evaluated for impairment | 815 | 857 | 774 |
Total | 815 | 857 | 774 |
Allowance for loan losses for loans: | |||
Individually evaluated for impairment, allowance for loan losses | 0 | 0 | 0 |
Collectively evaluated for impairment, allowance for loan losses | 44 | 50 | 38 |
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Ending gross loan balances: | |||
Individually evaluated for impairment | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 426 | 388 | |
Charge-offs | 0 | ||
Recoveries | 1 | ||
Provision for (reversal of) loan losses | (29) | 167 | |
Ending balance | 398 | 555 | |
Ending gross loan balances: | |||
Individually evaluated for impairment | 0 | 0 | 0 |
Collectively evaluated for impairment | 32,983 | 24,493 | 32,588 |
Total | 32,983 | 24,493 | 32,588 |
Allowance for loan losses for loans: | |||
Individually evaluated for impairment, allowance for loan losses | 0 | 0 | 0 |
Collectively evaluated for impairment, allowance for loan losses | 398 | 555 | 426 |
Residential Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Ending gross loan balances: | |||
Individually evaluated for impairment | 0 | 0 | |
Agriculture [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 309 | 286 | |
Charge-offs | 0 | ||
Recoveries | 0 | ||
Provision for (reversal of) loan losses | (7) | (105) | |
Ending balance | 302 | 181 | |
Ending gross loan balances: | |||
Individually evaluated for impairment | 2,704 | 0 | 2,704 |
Collectively evaluated for impairment | 17,341 | 9,431 | 18,143 |
Total | 20,045 | 9,431 | 20,847 |
Allowance for loan losses for loans: | |||
Individually evaluated for impairment, allowance for loan losses | 0 | 0 | 0 |
Collectively evaluated for impairment, allowance for loan losses | 302 | 181 | 309 |
Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Ending gross loan balances: | |||
Individually evaluated for impairment | 0 | 0 | |
Unallocated Financing Receivables [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 36 | 135 | |
Charge-offs | 0 | ||
Recoveries | 0 | ||
Provision for (reversal of) loan losses | 59 | (7) | |
Ending balance | 95 | 128 | |
Ending gross loan balances: | |||
Individually evaluated for impairment | 0 | 0 | 0 |
Collectively evaluated for impairment | 0 | 0 | 0 |
Total | 0 | 0 | 0 |
Allowance for loan losses for loans: | |||
Individually evaluated for impairment, allowance for loan losses | 0 | ||
Collectively evaluated for impairment, allowance for loan losses | 95 | $ 128 | 36 |
Unallocated Financing Receivables [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Ending gross loan balances: | |||
Individually evaluated for impairment | $ 0 | $ 0 |
Note 5 - Loans (Details) - Chan
Note 5 - Loans (Details) - Changes in the Allowance Off Balance Sheet Commitments - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Changes in the Allowance Off Balance Sheet Commitments [Abstract] | ||
Balance, beginning of period | $ 238 | $ 218 |
Provision to operations for off balance sheet commitments | 26 | 9 |
Balance, end of period | $ 264 | $ 227 |
Note 6 - Other Real Estate Ow45
Note 6 - Other Real Estate Owned (Details) | 3 Months Ended | ||
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2015USD ($) | |
Note 6 - Other Real Estate Owned (Details) [Line Items] | |||
Number of Real Estate Properties | 5 | 5 | |
Real Estate Acquired Through Foreclosure | $ 2,066,000 | $ 2,066,000 | |
Proceeds from Sale of Foreclosed Assets | $ 0 | $ 0 | |
Mother Lode Bank [Member] | |||
Note 6 - Other Real Estate Owned (Details) [Line Items] | |||
Number of Real Estate Properties | 1 | ||
Real Estate Acquired Through Foreclosure | $ 275,000 | ||
Residential Portfolio Segment [Member] | |||
Note 6 - Other Real Estate Owned (Details) [Line Items] | |||
Number of Real Estate Properties | 1 | ||
Real Estate Acquired Through Foreclosure | $ 0 |
Note 7 - Other Post-retiremen46
Note 7 - Other Post-retirement Benefit Plans (Details) | 1 Months Ended | 3 Months Ended | ||
Mar. 31, 2014USD ($) | Jan. 31, 2008USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Note 7 - Other Post-retirement Benefit Plans (Details) [Line Items] | ||||
Numbe of Directors Awarded, Director Retirement Plan | 3 | 2 | ||
Other Postretirement Defined Benefit Plan, Liabilities | $ 2,406,000 | $ 2,440,000 | ||
Payments to Acquire Life Insurance Policies | $ 1,000,000 | $ 4,700,000 | ||
Bank Owned Life Insurance | $ 13,855,000 | $ 13,747,000 | ||
Director Retirement Plan [Member] | ||||
Note 7 - Other Post-retirement Benefit Plans (Details) [Line Items] | ||||
Other Postretirement Defined Benefit Plan, Expected Annual Future Benefit Payments Period | 10 years | |||
Minimum [Member] | ||||
Note 7 - Other Post-retirement Benefit Plans (Details) [Line Items] | ||||
Other Postretirement Defined Benefit Plan, Expected Annual Future Benefit Payments Period | 10 years | |||
Maximum [Member] | ||||
Note 7 - Other Post-retirement Benefit Plans (Details) [Line Items] | ||||
Other Postretirement Defined Benefit Plan, Expected Annual Future Benefit Payments Period | 20 years |
Note 8 - Financial Instrument47
Note 8 - Financial Instruments and Fair Value Measurements (Details) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | |
Note 8 - Financial Instruments and Fair Value Measurements (Details) [Line Items] | |
Fair Value Inputs, Discount Rate | 6.00% |
Note 8 - Financial Instrument48
Note 8 - Financial Instruments and Fair Value Measurements (Details) - Fair Value of Financial Instruments - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Financial assets: | ||||
Cash and cash equivalents | $ 159,568 | $ 190,603 | $ 149,698 | $ 144,288 |
Loans, net | 557,573 | 530,394 | ||
Financial liabilities: | ||||
Deposits | (822,440) | (814,691) | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 159,568 | 190,603 | ||
Cash and cash equivalents | 159,568 | 190,603 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets: | ||||
Restricted equity securities | 3,716 | 3,716 | ||
Restricted equity securities | 3,716 | 3,716 | ||
Interest receivable | 2,304 | 2,420 | ||
Financial liabilities: | ||||
Interest payable | (29) | (36) | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets: | ||||
Loans, net | 557,573 | 530,394 | ||
Loans, net | 563,237 | 537,761 | ||
Financial liabilities: | ||||
Deposits | (882,440) | (814,691) | ||
Deposits | (745,981) | (725,982) | ||
Off-balance-sheet assets (liabilities): | ||||
Commitments and standby letters of credit | $ (980) | $ (917) |
Note 8 - Financial Instrument49
Note 8 - Financial Instruments and Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on Recurring and Non Recurring Basis - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | $ 144,261,000 | $ 131,546,000 |
Impaired loans: | ||
Other real estate owned | 2,066,000 | 2,066,000 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Other real estate owned | 2,066,000 | 2,066,000 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 34,912,000 | 32,868,000 |
Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 2,568,000 | 2,719,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 73,520,000 | 68,586,000 |
SBA Pool [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 794,000 | 806,000 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 17,131,000 | 13,420,000 |
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 12,269,000 | 10,138,000 |
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land Loans [Member] | ||
Impaired loans: | ||
Land | 380,000 | 1,965,000 |
Mutual Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 3,067,000 | 3,009,000 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | SBA Pool [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land Loans [Member] | ||
Impaired loans: | ||
Land | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 3,067,000 | 3,009,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 34,912,000 | 32,868,000 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 2,568,000 | 2,719,000 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 73,520,000 | 68,586,000 |
Fair Value, Inputs, Level 2 [Member] | SBA Pool [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 794,000 | 806,000 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 17,131,000 | 10,944,000 |
Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 12,269,000 | 10,138,000 |
Fair Value, Inputs, Level 2 [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land Loans [Member] | ||
Impaired loans: | ||
Land | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Other real estate owned | 2,066,000 | 2,066,000 |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | SBA Pool [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 2,476,000 |
Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land Loans [Member] | ||
Impaired loans: | ||
Land | 380,000 | 1,965,000 |
Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets and liabilities measured on a recurring basis: | ||
Available-for-sale securities | $ 0 | $ 0 |
Note 9 - Earnings Per Share (De
Note 9 - Earnings Per Share (Details) | 3 Months Ended | |
Mar. 31, 2016$ / sharesshares | Mar. 31, 2015$ / sharesshares | |
Note 9 - Earnings Per Share (Details) [Line Items] | ||
Number of Forms of Outstanding Common Stock | 2 | |
Employee Stock Option [Member] | ||
Note 9 - Earnings Per Share (Details) [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 28,511 | 54,250 |
Restricted Stock [Member] | ||
Note 9 - Earnings Per Share (Details) [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 0 | 0 |
Minimum [Member] | Employee Stock Option [Member] | ||
Note 9 - Earnings Per Share (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares | $ 9.95 | $ 10.85 |
Maximum [Member] | Employee Stock Option [Member] | ||
Note 9 - Earnings Per Share (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares | $ 15 | $ 15.67 |
Note 9 - Earnings Per Share (51
Note 9 - Earnings Per Share (Details) - Earnings Per Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
BASIC EARNINGS PER SHARE | |||
Net income (in Dollars) | $ 1,509 | $ 1,526 | $ 4,908 |
Weighted average shares outstanding | 8,009 | 7,972 | |
Effect of dilutive stock options | 1 | 2 | |
Effect of dilutive non-vested restricted shares | 42 | 51 | |
Weighted average shares of common stock and common stock equivalents | 8,052 | 8,025 | |
Net income per diluted common share (in Dollars per share) | $ 0.19 | $ 0.19 | |
Net income per common share (in Dollars per share) | $ 0.19 | $ 0.19 |