Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 10, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | Oak Valley Bancorp | |
Entity Central Index Key | 1,431,567 | |
Trading Symbol | ovly | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 8,091,455 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 133,243,000 | $ 174,778,000 |
Federal funds sold | 14,020,000 | 15,825,000 |
Cash and cash equivalents | 147,263,000 | 190,603,000 |
Securities available for sale | 160,077,000 | 131,546,000 |
Loans, net of allowance for loan loss of $7,767 and $7,356 at September 30, 2016 and December 31, 2015, respectively | 592,650,000 | 530,394,000 |
Bank premises and equipment, net | 13,712,000 | 14,277,000 |
Other real estate owned | 1,485,000 | 2,066,000 |
Interest receivable and other assets | 31,831,000 | 28,152,000 |
947,018,000 | 897,038,000 | |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Deposits | 859,756,000 | 814,691,000 |
Interest payable and other liabilities | 4,404,000 | 4,084,000 |
Total liabilities | 864,160,000 | 818,775,000 |
Shareholders’ equity | ||
Common stock, no par value; 50,000,000 shares authorized, 8,093,555 and 8,078,155 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively | 24,682,000 | 24,682,000 |
Additional paid-in capital | 3,412,000 | 3,217,000 |
Retained earnings | 52,198,000 | 48,795,000 |
Accumulated other comprehensive income, net of tax | 2,566,000 | 1,569,000 |
Total shareholders’ equity | 82,858,000 | 78,263,000 |
$ 947,018,000 | $ 897,038,000 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Net of allowance for loan loss | $ 7,767 | $ 7,356 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 8,093,055 | 8,078,155 |
Common stock, shares outstanding (in shares) | 8,093,055 | 8,078,155 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
INTEREST INCOME | ||||
Interest and fees on loans | $ 6,807,000 | $ 5,515,000 | $ 20,484,000 | $ 16,293,000 |
Interest on securities available for sale | 1,045,000 | 914,000 | 3,038,000 | 2,687,000 |
Interest on federal funds sold | 4,000 | 8,000 | 18,000 | 24,000 |
Interest on deposits with banks | 169,000 | 72,000 | 492,000 | 212,000 |
Total interest income | 8,025,000 | 6,509,000 | 24,032,000 | 19,216,000 |
INTEREST EXPENSE | ||||
Deposits | 196,000 | 155,000 | 555,000 | 461,000 |
Total interest expense | 196,000 | 155,000 | 555,000 | 461,000 |
Net interest income | 7,829,000 | 6,354,000 | 23,477,000 | 18,755,000 |
Provision for (reversal of) loan losses | 90,000 | 0 | 415,000 | (125,000) |
Net interest income after provision for (reversal of) loan losses | 7,739,000 | 6,354,000 | 23,062,000 | 18,880,000 |
OTHER INCOME | ||||
Service charges on deposits | 341,000 | 307,000 | 1,011,000 | 927,000 |
Earnings on cash surrender value of life insurance | 102,000 | 108,000 | 305,000 | 322,000 |
Mortgage commissions | 49,000 | 26,000 | 144,000 | 114,000 |
Net gain on sales and calls of securities | 10,000 | 3,000 | 28,000 | 186,000 |
Other | 575,000 | 521,000 | 1,682,000 | 1,599,000 |
Total non-interest income | 1,077,000 | 965,000 | 3,170,000 | 3,148,000 |
OTHER EXPENSES | ||||
Salaries and employee benefits | 3,225,000 | 2,852,000 | 9,950,000 | 8,790,000 |
Occupancy expenses | 819,000 | 743,000 | 2,470,000 | 2,214,000 |
Data processing fees | 435,000 | 366,000 | 1,346,000 | 1,077,000 |
Regulatory assessments (FDIC & DBO) | 178,000 | 123,000 | 505,000 | 368,000 |
Other operating expenses | 1,267,000 | 1,215,000 | 4,027,000 | 3,141,000 |
Total non-interest expense | 5,924,000 | 5,299,000 | 18,298,000 | 15,590,000 |
Net income before provision for income taxes | 2,892,000 | 2,020,000 | 7,934,000 | 6,438,000 |
PROVISION FOR INCOME TAXES | 962,000 | 638,000 | 2,591,000 | 2,020,000 |
NET INCOME | $ 1,930,000 | $ 1,382,000 | $ 5,343,000 | $ 4,418,000 |
NET INCOME PER COMMON SHARE (in dollars per share) | $ 0.24 | $ 0.17 | $ 0.67 | $ 0.55 |
NET INCOME PER DILUTED COMMON SHARE (in dollars per share) | $ 0.24 | $ 0.17 | $ 0.66 | $ 0.55 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net income | $ 1,930,000 | $ 1,382,000 | $ 5,343,000 | $ 4,418,000 |
Other comprehensive income (loss): | ||||
Unrealized holding (losses) gains on securities arising during the current period, net of tax effect of ($108) thousand and $709 thousand for the three and nine month periods ended September 30, 2016 and 2015, respectively, and $290 thousand and ($492) thousand for the comparable 2015 periods | (154,000) | 415,000 | 1,014,000 | (704,000) |
Reclassification adjustment due to net gains realized on sales and calls of securities, net of tax effect of $4 thousand and $11 thousand for the three and nine months ended September 30, 2016, respectively, and $1 thousand and $77 thousand for the comparable 2015 periods | (6,000) | (2,000) | (17,000) | (109,000) |
Other comprehensive income (loss) | (160,000) | 413,000 | 997,000 | (813,000) |
Comprehensive income | $ 1,770,000 | $ 1,795,000 | $ 6,340,000 | $ 3,605,000 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Tax effect of unrealized holding (losses) gains on securities arising during the current period | $ (108) | $ 290 | $ 709 | $ (492) |
Tax effect of reclassification adjustment due to net gains realized on calls of securities | $ 4 | $ 1 | $ 11 | $ 77 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Dec. 31, 2014 | 8,074,855 | ||||
Balances at Dec. 31, 2014 | $ 24,682,000 | $ 2,910,000 | $ 45,582,000 | $ 1,867,000 | $ 75,041,000 |
Tax benefit on stock based compensation | 46,000 | 46,000 | |||
Restricted stock issued (in shares) | 6,000 | ||||
Restricted stock issued | 0 | ||||
Restricted stock forfeited (in shares) | (2,700) | ||||
Restricted stock forfeited | 0 | ||||
Cash dividends declared | (1,695,000) | (1,695,000) | |||
Stock based compensation | 261,000 | 261,000 | |||
Other comprehensive loss | (298,000) | (298,000) | |||
Net income | 4,908,000 | 4,908,000 | |||
Balances (in shares) at Dec. 31, 2015 | 8,078,155 | ||||
Balances at Dec. 31, 2015 | $ 24,682,000 | 3,217,000 | 48,795,000 | 1,569,000 | 78,263,000 |
Restricted stock issued (in shares) | 17,000 | ||||
Restricted stock issued | 0 | ||||
Restricted stock forfeited (in shares) | (1,600) | ||||
Cash dividends declared | (1,940,000) | (1,940,000) | |||
Stock based compensation | 195,000 | 195,000 | |||
Other comprehensive loss | 997,000 | 997,000 | |||
Net income | 5,343,000 | 5,343,000 | |||
Balances (in shares) at Sep. 30, 2016 | 8,093,555 | ||||
Balances at Sep. 30, 2016 | $ 24,682,000 | $ 3,412,000 | $ 52,198,000 | $ 2,566,000 | $ 82,858,000 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 5,343,000 | $ 4,418,000 |
Adjustments to reconcile net earnings to net cash from operating activities: | ||
Provision (reversal of provision) for loan losses | 415,000 | (125,000) |
Decrease in deferred fees/costs, net | (29,000) | (123,000) |
Depreciation | 948,000 | 892,000 |
Amortization of investment securities, net | 270,000 | 132,000 |
Stock based compensation | 195,000 | 197,000 |
Gain on sale of premises and equipment | (4,000) | (5,000) |
OREO write downs and losses on sale | 88,000 | 50,000 |
Gain on sales and calls of available for sale securities | (28,000) | (186,000) |
Earnings on cash surrender value of life insurance | (305,000) | (322,000) |
Gain on BOLI death benefit | (2,000) | (66,000) |
Increase (decrease) in interest payable and other liabilities | 320,000 | (1,044,000) |
Decrease in interest receivable | 52,000 | 75,000 |
Increase in other assets | (228,000) | (178,000) |
Net cash from operating activities | 7,035,000 | 3,715,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchases of available for sale securities | (47,182,000) | (34,506,000) |
Proceeds from maturities, calls, and principal paydowns of securities available for sale | 20,103,000 | 24,958,000 |
Net increase in loans | (62,895,000) | (22,876,000) |
Purchase of FHLB Stock | (79,000) | 0 |
Purchase of BOLI policies | (4,000,000) | 0 |
Proceeds from sale of OREO | 746,000 | 0 |
Proceeds from redemption of BOLI policies | 186,000 | 292,000 |
Proceeds from sales of premises and equipment | 4,000 | 5,000 |
Net purchases of premises and equipment | (383,000) | (562,000) |
Net cash used in investing activities | (93,500,000) | (32,689,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Shareholder cash dividends paid | (1,940,000) | (1,696,000) |
Net increase in demand deposits and savings accounts | 40,612,000 | 43,078,000 |
Net increase (decrease) in time deposits | 4,453,000 | (82,000) |
Net cash from financing activities | 43,125,000 | 41,300,000 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (43,340,000) | 12,326,000 |
CASH AND CASH EQUIVALENTS, beginning of period | 190,603,000 | 144,288,000 |
CASH AND CASH EQUIVALENTS, end of period | 147,263,000 | 156,614,000 |
Interest | 558,000 | 466,000 |
Income taxes | 1,434,000 | 3,545,000 |
NON-CASH INVESTING ACTIVITIES: | ||
Real estate acquired through foreclosure | 253,000 | 0 |
Change in unrealized gain (loss) on available-for-sale securities | $ 1,694,000 | $ (1,382,000) |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
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 (“the Company”) 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 Bank was converted into one share of the Company and the Bank 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 Bank 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 the Company 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 and nine month periods ended September 30, 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 | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
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. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326). In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments (Topic 230). |
Note 3 - Acquisition
Note 3 - Acquisition | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
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 Mother Lode Bank ("MLB"), via a merger with and into the Bank, upon the consummation of which all outstanding common shares and unexercised options to purchase MLB common stock were cancelled, in exchange for $7,336,000 in cash (the "MLB Acquisition"). 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 acquired 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. During the third quarter of 2016, the Company determined that deferred tax assets acquired from MLB totaling $2,651,000, mainly from net operating loss carryforwards, cannot be utilized by the Company. As a result, the Company decreased deferred tax assets and increased goodwill by $2,651,000 as of the December 23, 2015 acquisition date in the tables below. Additionally, all related financial statement disclosures have been revised. These revisions did not impact previously reported net income or shareholders equity. 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 Goodwill 3,312 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 liabilities 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 ) Fair value of net assets acquired from Mother Lode Bank $ 4,024 Merger consideration 7,336 Less: fair value of net assets acquired (4,024 ) Goodwill $ 3,312 As a result of the MLB Acquisition, we recorded $3,312,000 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 $39,000 and $120,000 was amortized during the three and nine month periods ended September 30, 2016, respectively. 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 September 30, 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 $49,000 and $190,000 during the three and nine month periods ended September 30, 2016, respectively. The conversion of the operating systems was completed in April 2016. |
Note 4 - Securities
Note 4 - Securities | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
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 September 30, 2016 are as follows: (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 28,940 $ 1,078 $ (3 ) $ 30,015 Collateralized mortgage obligations 4,329 18 (3 ) 4,344 Municipalities 73,649 3,923 (19 ) 77,553 SBA pools 5,209 1 (9 ) 5,201 Corporate debt 21,347 113 (395 ) 21,065 Asset backed securities 19,003 4 (218 ) 18,789 Mutual fund 3,240 0 (130 ) 3,110 $ 155,717 $ 5,137 $ (777 ) $ 160,077 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 September 30, 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 $ 744 $ (3 ) $ 0 $ 0 $ 744 $ (3 ) Collateralized mortgage obligations 3,270 (3 ) 0 0 3,270 (3 ) Municipalities 5,572 (15 ) 427 (4 ) 5,999 (19 ) SBA pools 2,152 (5 ) 772 (4 ) 2,924 (9 ) Corporate debt 12,162 (372 ) 972 (23 ) 13,134 (395 ) Asset backed securities 5,128 (45 ) 10,165 (173 ) 15,293 (218 ) Mutual fund 0 0 3,109 (130 ) 3,109 (130 ) Total temporarily impaired securities $ 29,028 $ (443 ) $ 15,445 $ (334 ) $ 44,473 $ (777 ) At September 30, 2016, there was one U.S municipality, two SBA pools, three corporate debts, six asset backed securities and one mutual fund that comprised the total securities in an unrealized loss position for greater than 12 months and one U.S. agency, two collateralized mortgage obligations, six municipalities, one SBA pool, seven corporate debts and two 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 September 30, 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 $ 10,008 $ 10,696 Due after one year through five years 48,629 49,721 Due after five years through ten years 62,904 64,489 Due after ten years 34,176 35,171 $ 155,717 $ 160,077 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 $10,000 and $29,000 for the three and nine month periods ended September 30, 2016, respectively, on certain available-for-sale securities that were called or sold, which compares to $3,000 and $218,000 in the same periods of 2015. There were no securities sold during the first nine months of 2016, compared to two available-for-sale securities sold during the first nine months of 2015, which resulted in a gross loss of $32 ,000 on one sale and a gross gain of $13,000 on the other sale. Securities carried at $83,423,000 and $65,902,000 at September 30, 2016 and December 31, 2015, respectively, were pledged to secure deposits of public funds. |
Note 5 - Loans
Note 5 - Loans | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
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 September 30, 2016, approximately 78% of the Company’s loans are commercial real estate loans which include construction loans. Approximately 11% 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 5% are agriculture loans. Loan totals were as follows: (in thousands) September 30, 2016 December 31, 2015 Commercial real estate: Commercial real estate- construction $ 18,861 $ 19,363 Commercial real estate- mortgages 384,164 363,644 Land 9,561 10,239 Farmland 56,651 29,801 Commercial and industrial 68,073 63,776 Consumer 736 774 Consumer residential 36,756 32,588 Agriculture 27,767 20,847 Total loans 602,569 541,032 Less: Deferred loan fees and costs, net (2,152 ) (3,282 ) Allowance for loan losses (7,767 ) (7,356 ) Net loans $ 592,650 $ 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 September 30, 2016 and December 31, 2015, commercial real estate loans equal to approximately 41.4% 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 September 30, 2016 and December 31, 2015: (in thousands) September 30, 2016 December 31, 2015 Commercial real estate: Unpaid principal balance Carrying value Unpaid principal balance Carrying value Commercial real estate- construction $ 0 $ 0 $ 0 $ 0 Commercial real estate- mortgages 0 0 196 118 Land 280 33 795 269 Farmland 0 0 0 0 Commercial and industrial 499 499 794 478 Consumer 0 0 0 0 Consumer residential 0 0 0 0 Agriculture 0 0 0 0 Total purchased credit-impaired loans $ 779 $ 532 $ 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) September 30, 2016 December 31, 2015 Commercial real estate: Land $ 2,305 $ 2,739 Farmland 0 51 Commercial and industrial 309 322 Agriculture 0 2,704 Total non-accrual loans $ 2,614 $ 5,816 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 $38,000 and $118,000 in the three and nine month periods ended September 30, 2016, respectively, as compared to $71,000 and $224,000 in the same periods 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 September 30, 2016 (in thousands): September 30, 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 $ 18,861 $ 0 $ 18,861 $ 0 Commercial R.E. - mortgages 0 0 0 0 384,164 0 384,164 0 Land 289 0 2,296 2,585 6,943 33 9,561 0 Farmland 0 0 0 0 56,651 0 56,651 0 Commercial and industrial 0 0 304 304 67,270 499 68,073 0 Consumer 27 0 0 27 709 0 736 0 Consumer residential 0 0 0 0 36,756 0 36,756 0 Agriculture 0 0 0 0 27,767 0 27,767 0 Total $ 316 $ 0 $ 2,600 $ 2,916 $ 599,121 $ 532 $ 602,569 $ 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 Credi t 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 0 363,526 118 363,611 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 September 30, 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 September 30, 2016 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 2,712 744 1,561 2,305 680 Farmland 0 0 0 0 0 Commercial and Industrial 354 309 0 309 0 Consumer 0 0 0 0 0 Consumer residential 0 0 0 0 0 Agriculture 0 0 0 0 0 Total $ 3,066 $ 1,053 $ 1,561 $ 2,614 $ 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 3,856 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 $ 6,980 $ 3,077 $ 2,739 $ 5,816 $ 722 Average recorded investment in impaired loans outstanding as of September 30, 2016 and 2015 is set forth in the following table. Average Recorded Investment for the (in thousands) Three Months Ended 2016 Three Months Ended 2015 Nine Months Ended 2016 Nine Months Ended 2015 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 216 Land 2,324 2,931 2,439 2,961 Farmland 0 59 0 64 Commercial and Industrial 312 1,335 316 1,182 Consumer 0 0 0 0 Consumer residential 0 0 0 0 Agriculture 0 0 0 0 Total $ 2,636 $ 4,325 $ 2,755 $ 4,423 Troubled Debt Restructurings – At September 30, 2016, there were 5 loans that were considered to be troubled debt restructurings, all of which are considered non-accrual totaling $2,614,000. 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 September 30, 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 September 30, 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 nine months ended September 30, 2016, one loan was modified as troubled debt restructuring by extending the maturity date. During the three and nine month periods ended September 30, 2015, the terms of one and two loans, respectively, were modified as troubled debt restructurings by extending the maturity dates. The following tables present loans by class modified as troubled debt restructurings that occurred during the three and nine month periods ended September 30, 2016 and 2015: Three Months Ended Three Months Ended (dollars in thousands) September 30, 2016 September 30, 2015 Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial real estate: Commercial R.E. - construction 0 $ 0 $ 0 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 0 Land 1 292 292 0 0 0 Farmland 0 0 0 0 0 0 Commercial and industrial 0 0 0 0 0 0 Consumer 0 0 0 0 0 0 Consumer residential 0 0 0 0 0 0 Agriculture 0 0 0 0 0 0 Total 1 $ 292 $ 292 0 $ 0 $ 0 Nine Months Ended Nine Months Ended (dollars in thousands) September 30, 2016 September 30, 2015 Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial real estate: Commercial R.E. - construction 0 $ 0 $ 0 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 0 Land 1 292 292 1 570 570 Farmland 0 0 0 0 0 0 Commercial and industrial 0 0 0 1 24 24 Consumer 0 0 0 0 0 0 Consumer residential 0 0 0 0 0 0 Agriculture 0 0 0 0 0 0 Total 1 $ 292 $ 292 2 $ 594 $ 594 The troubled debt restructuring during the nine months ended September 30, 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 and nine month periods ended September 30, 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 September 30, 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: September 30, 2016 December 31, 2015 Weighted Average Risk Grade Weighted Average Risk Grade Commercial real estate: Commercial real estate - construction 3.11 3.72 Commercial real estate - mortgages 3.01 3.16 Land 4.30 4.58 Farmland 3.00 3.12 Commercial and industrial 3.00 3.57 Consumer 2.24 1.99 Consumer residential 2.97 3.01 Agriculture 3.08 3.39 Total gross loans 3.03 3.25 The following table presents risk grade totals by class of loans as of September 30, 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 September 30, 2016 Pass $ 17,827 $ 383,023 $ 6,780 $ 56,651 $ 65,977 $ 708 $ 36,347 $ 27,767 $ 595,080 Special mention 1,034 1,072 - - 338 - 33 - 2,477 Substandard - 69 2,501 - 1,758 28 376 - 4,732 Doubtful - - 280 - - - - - 280 Total loans $ 18,861 $ 384,164 $ 9,561 $ 56,651 $ 68,073 $ 736 $ 36,756 $ 27,767 $ 602,569 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; (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; and (iv) unallocated allowance which represents the excess allowance not allocated to specific loans pools. 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 and nine months ended September 30, 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 and Nine Months Ended September 30, 2016 and 2015 (in thousands) Commercial Commercial Consumer Three Months Ended September 30, 2016 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 6,133 $ 671 $ 55 $ 387 $ 431 $ 3 $ 7,680 Charge-offs 0 0 (5 ) 0 0 0 (5 ) Recoveries 0 0 2 0 0 2 Provision for (reversal of) loan losses (62 ) 60 (4 ) (8 ) 63 41 90 Ending balance $ 6,071 $ 731 $ 48 $ 379 $ 494 $ 44 $ 7,767 Nine Months Ended September 30, 2016 Beginning balance $ 5,920 $ 627 $ 38 $ 426 $ 309 $ 36 $ 7,356 Charge-offs - - (12 ) - - - (12 ) Recoveries 3 - 5 - - 8 (Reversal of) provision for loan losses 148 104 17 (47 ) 185 8 415 Ending balance $ 6,071 $ 731 $ 48 $ 379 $ 494 $ 44 $ 7,767 (in thousands) Commercial Commercial Consumer Three Months Ended September 30, 2015 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 5,884 $ 583 $ 45 $ 480 $ 263 $ 135 $ 7,390 Charge-offs 0 0 (2 ) 0 0 0 (2 ) Recoveries 1 0 0 0 0 0 1 Provision for (reversal of provision) loan losses 12 90 (2 ) (14 ) (15 ) (71 ) 0 Ending balance $ 5,897 $ 673 $ 41 $ 466 $ 248 $ 64 $ 7,389 Nine Months Ended September 30, 2015 Beginning balance $ 5,963 $ 720 $ 42 $ 388 $ 286 $ 135 $ 7,534 Charge-offs 0 0 (24 ) 0 0 0 (24 ) Recoveries 2 0 2 0 0 0 4 (Reversal of) provision for loan losses (68 ) (47 ) 21 78 (38 ) (71 ) (125 ) Ending balance $ 5,897 $ 673 $ 41 $ 466 $ 248 $ 64 $ 7,389 The following table details the allowance for loan losses and ending gross loan balances as of September 30, 2016, December 31, 2015 and September 30, 2015 summarized by collective and individual evaluation methods of impairment. (in thousands) Commercial Commercial Consumer September 30, 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 5,391 731 48 379 494 44 7,087 $ 6,071 $ 731 $ 48 $ 379 $ 494 $ 44 $ 7,767 Ending gross loan balances: Individually evaluated for impairment $ 2,305 $ 309 $ 0 $ 0 $ 0 $ 0 $ 2,614 Individually evaluated purchased credit impaired loans 33 499 0 0 0 0 532 Collectively evaluated for impairment 466,899 67,265 736 36,756 27,767 0 599,423 $ 469,237 $ 68,073 $ 736 $ 36,756 $ 27,767 $ 0 $ 602,569 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 balances of loans: 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 September 30, 2015 Allowance for loan losses for loans: Individually evaluated for impairment $ 833 $ 70 $ 0 $ 0 $ 0 $ 0 $ 903 Collectively evaluated for impairment 5,064 603 41 466 248 64 6,486 $ 5,897 $ 673 $ 41 $ 466 $ 248 $ 64 $ 7,389 Ending gross loan balances: Individually evaluated for impairment $ 2,975 $ 1,314 $ 0 $ 0 $ 0 $ 0 $ 4,289 Collectively evaluated for impairment 389,364 47,629 638 22,078 13,329 0 473,038 $ 392,339 $ 48,943 $ 638 $ 22,078 $ 13,329 $ 0 $ 477,327 Changes in the reserve for off-balance-sheet commitments were as follows: THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, 2016 2015 2016 2015 Balance, beginning of period $ 257 $ 234 $ 238 $ 218 (Recovery) Provision to Operations for Off Balance Sheet Commitments 6 23 (25 ) (39 ) Balance, end of period $ 263 $ 257 $ 263 $ 257 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 Sep |
Note 6 - Other Real Estate Owne
Note 6 - Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | NOTE 6 – OTHER REAL ESTATE OWNED As of September 30, 2016, the Company owned four properties classified as other real estate totaling $1,485,000, compared to five properties totaling $2,066 ,000 as of December 31, 2015. Each of the OREO properties were acquired through loan foreclosure, except for one property with a balance of $275,000 that was acquired in the Mother Lode Bank acquisition. One of the properties owned at September 30, 2016 and December 31, 2015, was a residential land property that was written down to a zero balance because the public utilities have not been obtainable rendering these land lots unmarketable at this time. The Company acquired one property through a loan foreclosure during the three and nine months ended September 30, 2016 with a balance of $253,000. There was one sale during the nine months ended September 30, 2016 that accounted for the disposition of two OREO properties, and there were no sales during the nine months ended September 30, 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 | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
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 September 30, 2016 and December 31, 2015 was $2,520 ,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. During September 2016, the Bank purchased an additional $4.0 million in bank owned life insurance policies and entered into split-dollar life insurance agreements with certain officers and 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 $17,868,000 and $13,747,000 at September 30, 2016 and December 31, 2015, respectively. |
Note 8 - Financial Instruments
Note 8 - Financial Instruments and Fair Value Measurements | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
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 nine month periods ended September 30, 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 September 30, 2016 were as follows: Hierarchy (in thousands) Carrying Fair Valuation Amount Value Level Financial assets: Cash and cash equivalents $ 147,263 147,263 1 Restricted equity securities 3,795 3,795 2 Loans, net 592,650 600,152 3 Interest receivable 2,367 2,367 2 Financial liabilities: Deposits (859,756 ) (791,550 ) 3 Interest payable (34 ) (34 ) 2 Off-balance-sheet assets (liabilities): Commitments and standby letters of credit (1,308 ) 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 September 30, 2016 and December 31, 2015 . Fair Value Measurements at September 30, 2016 Using (in thousands) September 30, 2016 Quoted Prices Significant Significant Assets and liabilities measured on a recurring basis: Available-for-sale securities: U.S. agencies $ 30,015 $ 0 $ 30,015 $ 0 Collateralized mortgage obligations 4,344 0 4,344 0 Municipalities 77,553 0 77,553 0 SBA pools 5,201 0 5,201 0 Corporate debt 21,065 0 21,065 0 Asset backed securities 18,789 0 18,789 0 Mutual fund 3,110 3,110 0 0 Assets and liabilities measured on a non-recurring basis: Impaired loans: Land $ 2,016 $ 0 $ 0 $ 2,016 Commercial and industrial 304 0 0 304 Other real estate owned 1,485 0 0 1,485 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. No fair value adjustments were made to OREO properties during the three and nine months ended September 30, 2016. There have been no significant changes in the valuation techniques during the period ended September 30, 2016. |
Note 9 - Earnings Per Share
Note 9 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
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 and nine month periods ended September 30, 2016 and 2015 are reflected in the table below. THREE MONTHS ENDED (In thousands) SEPTEMBER 30, 2016 2015 BASIC EARNINGS PER SHARE Net income $ 1,930 $ 1,381 Weighted average shares outstanding 8,031 7,995 Net income per common share $ 0.24 $ 0.17 DILUTED EARNINGS PER SHARE Net income $ 1,930 $ 1,381 Weighted average shares outstanding 8,031 7,995 Effect of dilutive stock options 1 1 Effect of dilutive non-vested restricted shares 31 45 Weighted average shares of common stock and common stock equivalents 8,063 8,041 Net income per diluted common share $ 0.24 $ 0.17 NINE MONTHS ENDED (In thousands) SEPTEMBER 30, 2016 2015 BASIC EARNINGS PER SHARE Net income $ 5,343 $ 4,418 Weighted average shares outstanding 8,023 7,987 Net income per common share $ 0.67 $ 0.55 DILUTED EARNINGS PER SHARE Net income $ 5,343 $ 4,418 Weighted average shares outstanding 8,023 7,987 Effect of dilutive stock options 35 1 Effect of dilutive non-vested restricted shares 1 46 Weighted average shares of common stock and common stock equivalents 8,059 8,034 Net income per diluted common share $ 0.66 $ 0.55 During the three and nine month periods ended September 30, 2016, anti-dilutive weighted average options to purchase 12,261 and 22,446 shares of common stock were outstanding, respectively, with prices ranging from $9.95 to $15. 00. Anti-dilutive weighted average stock options of 45,128 and 52,945 were outstanding during the three and nine month periods of 2015, respectively, with prices ranging from $9.95 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 and nine months ended September 30, 2016 and 2015. |
Note 3 - Acquisition (Tables)
Note 3 - Acquisition (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
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 Goodwill 3,312 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 liabilities 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 ) Fair value of net assets acquired from Mother Lode Bank $ 4,024 Merger consideration 7,336 Less: fair value of net assets acquired (4,024 ) Goodwill $ 3,312 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
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 $ 28,940 $ 1,078 $ (3 ) $ 30,015 Collateralized mortgage obligations 4,329 18 (3 ) 4,344 Municipalities 73,649 3,923 (19 ) 77,553 SBA pools 5,209 1 (9 ) 5,201 Corporate debt 21,347 113 (395 ) 21,065 Asset backed securities 19,003 4 (218 ) 18,789 Mutual fund 3,240 0 (130 ) 3,110 $ 155,717 $ 5,137 $ (777 ) $ 160,077 (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 $ 744 $ (3 ) $ 0 $ 0 $ 744 $ (3 ) Collateralized mortgage obligations 3,270 (3 ) 0 0 3,270 (3 ) Municipalities 5,572 (15 ) 427 (4 ) 5,999 (19 ) SBA pools 2,152 (5 ) 772 (4 ) 2,924 (9 ) Corporate debt 12,162 (372 ) 972 (23 ) 13,134 (395 ) Asset backed securities 5,128 (45 ) 10,165 (173 ) 15,293 (218 ) Mutual fund 0 0 3,109 (130 ) 3,109 (130 ) Total temporarily impaired securities $ 29,028 $ (443 ) $ 15,445 $ (334 ) $ 44,473 $ (777 ) (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 $ 10,008 $ 10,696 Due after one year through five years 48,629 49,721 Due after five years through ten years 62,904 64,489 Due after ten years 34,176 35,171 $ 155,717 $ 160,077 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Weighted Average [Member] | |
Notes Tables | |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2016 December 31, 2015 Weighted Average Risk Grade Weighted Average Risk Grade Commercial real estate: Commercial real estate - construction 3.11 3.72 Commercial real estate - mortgages 3.01 3.16 Land 4.30 4.58 Farmland 3.00 3.12 Commercial and industrial 3.00 3.57 Consumer 2.24 1.99 Consumer residential 2.97 3.01 Agriculture 3.08 3.39 Total gross loans 3.03 3.25 |
Average Recorded Investment [Member] | |
Notes Tables | |
Impaired Financing Receivables [Table Text Block] | Average Recorded Investment for the (in thousands) Three Months Ended 2016 Three Months Ended 2015 Nine Months Ended 2016 Nine Months Ended 2015 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 216 Land 2,324 2,931 2,439 2,961 Farmland 0 59 0 64 Commercial and Industrial 312 1,335 316 1,182 Consumer 0 0 0 0 Consumer residential 0 0 0 0 Agriculture 0 0 0 0 Total $ 2,636 $ 4,325 $ 2,755 $ 4,423 |
Mother Lode Bank [Member] | |
Notes Tables | |
Impaired Financing Receivables [Table Text Block] | (in thousands) September 30, 2016 December 31, 2015 Commercial real estate: Unpaid principal balance Carrying value Unpaid principal balance Carrying value Commercial real estate- construction $ 0 $ 0 $ 0 $ 0 Commercial real estate- mortgages 0 0 196 118 Land 280 33 795 269 Farmland 0 0 0 0 Commercial and industrial 499 499 794 478 Consumer 0 0 0 0 Consumer residential 0 0 0 0 Agriculture 0 0 0 0 Total purchased credit-impaired loans $ 779 $ 532 $ 1,785 $ 865 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (in thousands) September 30, 2016 December 31, 2015 Commercial real estate: Commercial real estate- construction $ 18,861 $ 19,363 Commercial real estate- mortgages 384,164 363,644 Land 9,561 10,239 Farmland 56,651 29,801 Commercial and industrial 68,073 63,776 Consumer 736 774 Consumer residential 36,756 32,588 Agriculture 27,767 20,847 Total loans 602,569 541,032 Less: Deferred loan fees and costs, net (2,152 ) (3,282 ) Allowance for loan losses (7,767 ) (7,356 ) Net loans $ 592,650 $ 530,394 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table 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 September 30, 2016 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 2,712 744 1,561 2,305 680 Farmland 0 0 0 0 0 Commercial and Industrial 354 309 0 309 0 Consumer 0 0 0 0 0 Consumer residential 0 0 0 0 0 Agriculture 0 0 0 0 0 Total $ 3,066 $ 1,053 $ 1,561 $ 2,614 $ 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 3,856 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 $ 6,980 $ 3,077 $ 2,739 $ 5,816 $ 722 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (in thousands) September 30, 2016 December 31, 2015 Commercial real estate: Land $ 2,305 $ 2,739 Farmland 0 51 Commercial and industrial 309 322 Agriculture 0 2,704 Total non-accrual loans $ 2,614 $ 5,816 |
Past Due Financing Receivables [Table Text Block] | September 30, 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 $ 18,861 $ 0 $ 18,861 $ 0 Commercial R.E. - mortgages 0 0 0 0 384,164 0 384,164 0 Land 289 0 2,296 2,585 6,943 33 9,561 0 Farmland 0 0 0 0 56,651 0 56,651 0 Commercial and industrial 0 0 304 304 67,270 499 68,073 0 Consumer 27 0 0 27 709 0 736 0 Consumer residential 0 0 0 0 36,756 0 36,756 0 Agriculture 0 0 0 0 27,767 0 27,767 0 Total $ 316 $ 0 $ 2,600 $ 2,916 $ 599,121 $ 532 $ 602,569 $ 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 Credi t 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 0 363,526 118 363,611 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] | Three Months Ended Three Months Ended (dollars in thousands) September 30, 2016 September 30, 2015 Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial real estate: Commercial R.E. - construction 0 $ 0 $ 0 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 0 Land 1 292 292 0 0 0 Farmland 0 0 0 0 0 0 Commercial and industrial 0 0 0 0 0 0 Consumer 0 0 0 0 0 0 Consumer residential 0 0 0 0 0 0 Agriculture 0 0 0 0 0 0 Total 1 $ 292 $ 292 0 $ 0 $ 0 Nine Months Ended Nine Months Ended (dollars in thousands) September 30, 2016 September 30, 2015 Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial real estate: Commercial R.E. - construction 0 $ 0 $ 0 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 0 Land 1 292 292 1 570 570 Farmland 0 0 0 0 0 0 Commercial and industrial 0 0 0 1 24 24 Consumer 0 0 0 0 0 0 Consumer residential 0 0 0 0 0 0 Agriculture 0 0 0 0 0 0 Total 1 $ 292 $ 292 2 $ 594 $ 594 |
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 September 30, 2016 Pass $ 17,827 $ 383,023 $ 6,780 $ 56,651 $ 65,977 $ 708 $ 36,347 $ 27,767 $ 595,080 Special mention 1,034 1,072 - - 338 - 33 - 2,477 Substandard - 69 2,501 - 1,758 28 376 - 4,732 Doubtful - - 280 - - - - - 280 Total loans $ 18,861 $ 384,164 $ 9,561 $ 56,651 $ 68,073 $ 736 $ 36,756 $ 27,767 $ 602,569 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 and Nine Months Ended September 30, 2016 and 2015 (in thousands) Commercial Commercial Consumer Three Months Ended September 30, 2016 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 6,133 $ 671 $ 55 $ 387 $ 431 $ 3 $ 7,680 Charge-offs 0 0 (5 ) 0 0 0 (5 ) Recoveries 0 0 2 0 0 2 Provision for (reversal of) loan losses (62 ) 60 (4 ) (8 ) 63 41 90 Ending balance $ 6,071 $ 731 $ 48 $ 379 $ 494 $ 44 $ 7,767 Nine Months Ended September 30, 2016 Beginning balance $ 5,920 $ 627 $ 38 $ 426 $ 309 $ 36 $ 7,356 Charge-offs - - (12 ) - - - (12 ) Recoveries 3 - 5 - - 8 (Reversal of) provision for loan losses 148 104 17 (47 ) 185 8 415 Ending balance $ 6,071 $ 731 $ 48 $ 379 $ 494 $ 44 $ 7,767 (in thousands) Commercial Commercial Consumer Three Months Ended September 30, 2015 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 5,884 $ 583 $ 45 $ 480 $ 263 $ 135 $ 7,390 Charge-offs 0 0 (2 ) 0 0 0 (2 ) Recoveries 1 0 0 0 0 0 1 Provision for (reversal of provision) loan losses 12 90 (2 ) (14 ) (15 ) (71 ) 0 Ending balance $ 5,897 $ 673 $ 41 $ 466 $ 248 $ 64 $ 7,389 Nine Months Ended September 30, 2015 Beginning balance $ 5,963 $ 720 $ 42 $ 388 $ 286 $ 135 $ 7,534 Charge-offs 0 0 (24 ) 0 0 0 (24 ) Recoveries 2 0 2 0 0 0 4 (Reversal of) provision for loan losses (68 ) (47 ) 21 78 (38 ) (71 ) (125 ) Ending balance $ 5,897 $ 673 $ 41 $ 466 $ 248 $ 64 $ 7,389 (in thousands) Commercial Commercial Consumer September 30, 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 5,391 731 48 379 494 44 7,087 $ 6,071 $ 731 $ 48 $ 379 $ 494 $ 44 $ 7,767 Ending gross loan balances: Individually evaluated for impairment $ 2,305 $ 309 $ 0 $ 0 $ 0 $ 0 $ 2,614 Individually evaluated purchased credit impaired loans 33 499 0 0 0 0 532 Collectively evaluated for impairment 466,899 67,265 736 36,756 27,767 0 599,423 $ 469,237 $ 68,073 $ 736 $ 36,756 $ 27,767 $ 0 $ 602,569 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 balances of loans: 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 September 30, 2015 Allowance for loan losses for loans: Individually evaluated for impairment $ 833 $ 70 $ 0 $ 0 $ 0 $ 0 $ 903 Collectively evaluated for impairment 5,064 603 41 466 248 64 6,486 $ 5,897 $ 673 $ 41 $ 466 $ 248 $ 64 $ 7,389 Ending gross loan balances: Individually evaluated for impairment $ 2,975 $ 1,314 $ 0 $ 0 $ 0 $ 0 $ 4,289 Collectively evaluated for impairment 389,364 47,629 638 22,078 13,329 0 473,038 $ 392,339 $ 48,943 $ 638 $ 22,078 $ 13,329 $ 0 $ 477,327 |
Change in Allowance for Loan Losses [Table Text Block] | THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, 2016 2015 2016 2015 Balance, beginning of period $ 257 $ 234 $ 238 $ 218 (Recovery) Provision to Operations for Off Balance Sheet Commitments 6 23 (25 ) (39 ) Balance, end of period $ 263 $ 257 $ 263 $ 257 |
Note 8 - Financial Instrument21
Note 8 - Financial Instruments and Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Hierarchy (in thousands) Carrying Fair Valuation Amount Value Level Financial assets: Cash and cash equivalents $ 147,263 147,263 1 Restricted equity securities 3,795 3,795 2 Loans, net 592,650 600,152 3 Interest receivable 2,367 2,367 2 Financial liabilities: Deposits (859,756 ) (791,550 ) 3 Interest payable (34 ) (34 ) 2 Off-balance-sheet assets (liabilities): Commitments and standby letters of credit (1,308 ) 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 September 30, 2016 Using (in thousands) September 30, 2016 Quoted Prices Significant Significant Assets and liabilities measured on a recurring basis: Available-for-sale securities: U.S. agencies $ 30,015 $ 0 $ 30,015 $ 0 Collateralized mortgage obligations 4,344 0 4,344 0 Municipalities 77,553 0 77,553 0 SBA pools 5,201 0 5,201 0 Corporate debt 21,065 0 21,065 0 Asset backed securities 18,789 0 18,789 0 Mutual fund 3,110 3,110 0 0 Assets and liabilities measured on a non-recurring basis: Impaired loans: Land $ 2,016 $ 0 $ 0 $ 2,016 Commercial and industrial 304 0 0 304 Other real estate owned 1,485 0 0 1,485 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) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | THREE MONTHS ENDED (In thousands) SEPTEMBER 30, 2016 2015 BASIC EARNINGS PER SHARE Net income $ 1,930 $ 1,381 Weighted average shares outstanding 8,031 7,995 Net income per common share $ 0.24 $ 0.17 DILUTED EARNINGS PER SHARE Net income $ 1,930 $ 1,381 Weighted average shares outstanding 8,031 7,995 Effect of dilutive stock options 1 1 Effect of dilutive non-vested restricted shares 31 45 Weighted average shares of common stock and common stock equivalents 8,063 8,041 Net income per diluted common share $ 0.24 $ 0.17 NINE MONTHS ENDED (In thousands) SEPTEMBER 30, 2016 2015 BASIC EARNINGS PER SHARE Net income $ 5,343 $ 4,418 Weighted average shares outstanding 8,023 7,987 Net income per common share $ 0.67 $ 0.55 DILUTED EARNINGS PER SHARE Net income $ 5,343 $ 4,418 Weighted average shares outstanding 8,023 7,987 Effect of dilutive stock options 35 1 Effect of dilutive non-vested restricted shares 1 46 Weighted average shares of common stock and common stock equivalents 8,059 8,034 Net income per diluted common share $ 0.66 $ 0.55 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) - Mother Lode Bank [Member] | Dec. 23, 2015USD ($) |
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 T
Note 3 - Acquisition (Details Textual) | Dec. 23, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2015USD ($) | Jan. 29, 2016 |
Mother Lode Bank [Member] | Core Deposits [Member] | |||||
Impairment of Intangible Assets (Excluding Goodwill) | $ 0 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 1,031,000 | ||||
Mother Lode Bank [Member] | Minimum [Member] | |||||
Fair Value Inputs, Prepayment Rate | 0.00% | ||||
Mother Lode Bank [Member] | Maximum [Member] | |||||
Fair Value Inputs, Prepayment Rate | 5.00% | ||||
Mother Lode Bank [Member] | |||||
Goodwill, Impairment Loss | $ 0 | ||||
Payments to Acquire Businesses, Gross | $ 7,336,000 | ||||
Number of Branches Closed | 2 | ||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets, Fair Value Adjustments | $ (2,651,000) | ||||
Goodwill, Purchase Accounting Adjustments | 2,651,000 | ||||
Goodwill | $ 3,312,000 | 3,312,000 | 3,312,000 | ||
Amortization of Intangible Assets | 39,000 | 120,000 | |||
Business Combination, Acquisition Related Costs | $ 49,000 | $ 190,000 | |||
Core Deposits [Member] | |||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years |
Note 3 - Acquisition - Estimate
Note 3 - Acquisition - Estimated Fair Value of Assets and Liabilities Acquired (Details) - USD ($) | Sep. 30, 2016 | Dec. 23, 2015 |
Mother Lode Bank [Member] | Core Deposits [Member] | ||
Core deposit intangible | $ 1,031,000 | |
Mother Lode Bank [Member] | ||
Cash and cash equivalents | 30,804,000 | |
Loans | 42,831,000 | |
Goodwill | $ 3,312,000 | 3,312,000 |
Other assets | 738,000 | |
Total assets acquired | 78,717,000 | |
Non-interest bearing | 36,177,000 | |
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 liabilities | 256,000 | |
Total liabilities assumed | 71,381,000 | |
Merger consideration | 7,336,000 | |
Loans | $ 45,989,000 |
Note 3 - Acquisition - Net Asse
Note 3 - Acquisition - Net Assets Acquired and Estimated Fair Value Adjustments (Details) - Mother Lode Bank [Member] - USD ($) | Dec. 23, 2015 | Sep. 30, 2016 |
Loans Receivable [Member] | ||
Fair value adjustments | $ (2,960,000) | |
Allowance for Loan Loss [Member] | ||
Fair value adjustments | 1,279,000 | |
Finite-Lived Intangible Assets [Member] | ||
Fair value adjustments | 1,031,000 | |
Other Assets and Liabilites, Net [Member] | ||
Fair value adjustments | (210,000) | |
Book value of net assets acquired from Mother Lode Bank | 4,884,000 | |
Fair value adjustments | (860,000) | |
Fair value of net assets acquired from Mother Lode Bank | 4,024,000 | |
Merger consideration | 7,336,000 | |
Less: fair value of net assets acquired | (4,024,000) | |
Goodwill | $ 3,312,000 | $ 3,312,000 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
US States and Political Subdivisions Debt Securities [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 1 | 1 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 6 | 6 | |||
SBA Pool [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 2 | 2 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 1 | 1 | |||
Corporate Debt Securities [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 3 | 3 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 7 | 7 | |||
Asset-backed Securities [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 6 | 6 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 2 | 2 | |||
Mutual Fund [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 1 | 1 | |||
US Government Agencies Debt Securities [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 1 | 1 | |||
Collateralized Mortgage Obligations [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 2 | 2 | |||
Available-for-sale Securities, Gross Realized Gains | $ 10,000 | $ 3,000 | $ 29,000 | $ 218,000 | |
Number of Available-for-sale Securities Sold | 0 | 2 | |||
Available-for-sale Securities, Realized Losses, Excluding Other than Temporary Impairments | $ 32,000 | ||||
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments | $ 13,000 | ||||
Security Owned and Pledged as Collateral, Fair Value | $ 83,423,000 | $ 83,423,000 | $ 65,902,000 | ||
Number of Available-for-sale Securities Sold Resulting in Losses | 1 |
Note 4 - Securities - Amortized
Note 4 - Securities - Amortized Cost and Estimated Fair Values of Debt Securities (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities: Amortized Cost | $ 28,940,000 | $ 31,815,000 |
Available-for-sale securities: Gross Unrealized Gains | 1,078,000 | 1,142,000 |
Available-for-sale securities: Gross Unrealized Losses | (3,000) | (89,000) |
Securities available for sale | 30,015,000 | 32,868,000 |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities: Amortized Cost | 4,329,000 | 2,729,000 |
Available-for-sale securities: Gross Unrealized Gains | 18,000 | 17,000 |
Available-for-sale securities: Gross Unrealized Losses | (3,000) | (27,000) |
Securities available for sale | 4,344,000 | 2,719,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities: Amortized Cost | 73,649,000 | 66,535,000 |
Available-for-sale securities: Gross Unrealized Gains | 3,923,000 | 2,248,000 |
Available-for-sale securities: Gross Unrealized Losses | (19,000) | (197,000) |
Securities available for sale | 77,553,000 | 68,586,000 |
SBA Pool [Member] | ||
Available-for-sale securities: Amortized Cost | 5,209,000 | 811,000 |
Available-for-sale securities: Gross Unrealized Gains | 1,000 | 0 |
Available-for-sale securities: Gross Unrealized Losses | (9,000) | (5,000) |
Securities available for sale | 5,201,000 | 806,000 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities: Amortized Cost | 21,347,000 | 13,497,000 |
Available-for-sale securities: Gross Unrealized Gains | 113,000 | 44,000 |
Available-for-sale securities: Gross Unrealized Losses | (395,000) | (121,000) |
Securities available for sale | 21,065,000 | 13,420,000 |
Asset-backed Securities [Member] | ||
Available-for-sale securities: Amortized Cost | 19,003,000 | 10,321,000 |
Available-for-sale securities: Gross Unrealized Gains | 4,000 | 0 |
Available-for-sale securities: Gross Unrealized Losses | (218,000) | (183,000) |
Securities available for sale | 18,789,000 | 10,138,000 |
Mutual Fund [Member] | ||
Available-for-sale securities: Amortized Cost | 3,240,000 | 3,172,000 |
Available-for-sale securities: Gross Unrealized Gains | 0 | 0 |
Available-for-sale securities: Gross Unrealized Losses | (130,000) | (163,000) |
Securities available for sale | 3,110,000 | 3,009,000 |
Available-for-sale securities: Amortized Cost | 155,717,000 | 128,880,000 |
Available-for-sale securities: Gross Unrealized Gains | 5,137,000 | 3,451,000 |
Available-for-sale securities: Gross Unrealized Losses | (777,000) | (785,000) |
Securities available for sale | $ 160,077,000 | $ 131,546,000 |
Note 4 - Securities - Gross Unr
Note 4 - Securities - Gross Unrealized Losses and Fair Value of Investments (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
US Government Agencies Debt Securities [Member] | ||
Description of Securities- Fair Value Less than 12 months | $ 744,000 | $ 7,129,000 |
Description of Securities-Unrealized Loss Less than 12 months | 3,000 | 30,000 |
Description of Securities-Fair Value 12 months or more | 0 | 1,800,000 |
Description of Securities-Unrealized Loss 12 months or more | 0 | 59,000 |
Description of Securities-Fair Value | 744,000 | 8,929,000 |
Description of Securities-Unrealized Loss | 3,000 | 89,000 |
Collateralized Mortgage Obligations [Member] | ||
Description of Securities- Fair Value Less than 12 months | 3,270,000 | 0 |
Description of Securities-Unrealized Loss Less than 12 months | 3,000 | 0 |
Description of Securities-Fair Value 12 months or more | 0 | 1,266,000 |
Description of Securities-Unrealized Loss 12 months or more | 0 | 27,000 |
Description of Securities-Fair Value | 3,270,000 | 1,266,000 |
Description of Securities-Unrealized Loss | 3,000 | 27,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Description of Securities- Fair Value Less than 12 months | 5,572,000 | 11,451,000 |
Description of Securities-Unrealized Loss Less than 12 months | 15,000 | 123,000 |
Description of Securities-Fair Value 12 months or more | 427,000 | 3,680,000 |
Description of Securities-Unrealized Loss 12 months or more | 4,000 | 74,000 |
Description of Securities-Fair Value | 5,999,000 | 15,131,000 |
Description of Securities-Unrealized Loss | 19,000 | 197,000 |
SBA Pool [Member] | ||
Description of Securities- Fair Value Less than 12 months | 2,152,000 | 0 |
Description of Securities-Unrealized Loss Less than 12 months | 5,000 | 0 |
Description of Securities-Fair Value 12 months or more | 772,000 | 807,000 |
Description of Securities-Unrealized Loss 12 months or more | 4,000 | 5,000 |
Description of Securities-Fair Value | 2,924,000 | 807,000 |
Description of Securities-Unrealized Loss | 9,000 | 5,000 |
Corporate Debt Securities [Member] | ||
Description of Securities- Fair Value Less than 12 months | 12,162,000 | 9,376,000 |
Description of Securities-Unrealized Loss Less than 12 months | 372,000 | 121,000 |
Description of Securities-Fair Value 12 months or more | 972,000 | 0 |
Description of Securities-Unrealized Loss 12 months or more | 23,000 | 0 |
Description of Securities-Fair Value | 13,134,000 | 9,376,000 |
Description of Securities-Unrealized Loss | 395,000 | 121,000 |
Asset-backed Securities [Member] | ||
Description of Securities- Fair Value Less than 12 months | 5,128,000 | 5,351,000 |
Description of Securities-Unrealized Loss Less than 12 months | 45,000 | 78,000 |
Description of Securities-Fair Value 12 months or more | 10,165,000 | 4,787,000 |
Description of Securities-Unrealized Loss 12 months or more | 173,000 | 105,000 |
Description of Securities-Fair Value | 15,293,000 | 10,138,000 |
Description of Securities-Unrealized Loss | 218,000 | 183,000 |
Mutual Fund [Member] | ||
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 | 3,109,000 | 3,009,000 |
Description of Securities-Unrealized Loss 12 months or more | 130,000 | 163,000 |
Description of Securities-Fair Value | 3,109,000 | 3,009,000 |
Description of Securities-Unrealized Loss | 130,000 | 163,000 |
Description of Securities- Fair Value Less than 12 months | 29,028,000 | 33,307,000 |
Description of Securities-Unrealized Loss Less than 12 months | 443,000 | 352,000 |
Description of Securities-Fair Value 12 months or more | 15,445,000 | 15,349,000 |
Description of Securities-Unrealized Loss 12 months or more | 334,000 | 433,000 |
Description of Securities-Fair Value | 44,473,000 | 48,656,000 |
Description of Securities-Unrealized Loss | $ 777,000 | $ 785,000 |
Note 4 - Securities - Amortiz30
Note 4 - Securities - Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity or Call Date (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Due in one year or less, amortized cost | $ 10,008,000 | |
Due in one year or less, fair value | 10,696,000 | |
Due after one year through five years, amortized cost | 48,629,000 | |
Due after one year through five years, fair value | 49,721,000 | |
Due after five years through ten years, amortized cost | 62,904,000 | |
Due after five years through ten years, fair value | 64,489,000 | |
Due after ten years, amortized cost | 34,176,000 | |
Due after ten years, fair value | 35,171,000 | |
Amortized cost | 155,717,000 | $ 128,880,000 |
Fair Value | $ 160,077,000 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Commercial Real Estate Portfolio Segment [Member] | |||||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 78.00% | 78.00% | |||
Loans and Leases Receivable, Gross | $ 469,237,000 | $ 392,339,000 | $ 469,237,000 | $ 392,339,000 | $ 423,047,000 |
Commercial Portfolio Segment [Member] | Extended Maturity [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 1 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||||
Loans and Leases Receivable, Gross | $ 1,758,000 | $ 1,758,000 | 1,416,000 | ||
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||||
Loans and Leases Receivable, Gross | 250,000 | ||||
Commercial Portfolio Segment [Member] | |||||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 11.00% | 11.00% | |||
Loans and Leases Receivable, Gross | $ 68,073,000 | $ 48,943,000 | $ 68,073,000 | $ 48,943,000 | 63,776,000 |
Residential Real Estate and Other Consumer Loans [Member] | |||||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 6.00% | 6.00% | |||
Agriculture [Member] | Extended Maturity [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | |
Agriculture [Member] | Substandard [Member] | |||||
Loans and Leases Receivable, Gross | 2,704,000 | ||||
Agriculture [Member] | Doubtful [Member] | |||||
Loans and Leases Receivable, Gross | |||||
Agriculture [Member] | |||||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 5.00% | 5.00% | |||
Loans and Leases Receivable, Gross | $ 27,767,000 | $ 13,329,000 | $ 27,767,000 | $ 13,329,000 | 20,847,000 |
Extended Maturity [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | 1 | 2 | |
Minimum [Member] | |||||
Financing Receivable, Rating Example Disbursement to Unsecured Creditors by Illusory Company in Liquidation, Percentage | 40.00% | ||||
Maximum [Member] | |||||
Financing Receivable, Rating Example Disbursement to Unsecured Creditors by Illusory Company in Liquidation, Percentage | 65.00% | ||||
Substandard [Member] | |||||
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category | 40.00% | ||||
Loans and Leases Receivable, Gross | $ 4,732,000 | $ 4,732,000 | 11,688,000 | ||
Doubtful [Member] | |||||
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category | 25.00% | ||||
Loans and Leases Receivable, Gross | 280,000 | $ 280,000 | 738,000 | ||
Unlikely to be Collected Financing Receivable [Member] | |||||
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category | 35.00% | ||||
Loans and Leases Receivable, Gross | $ 0 | $ 0 | $ 0 | ||
Loans and Leases Receivable, Percentage of Outstanding Principal Balance Secured by Owner Occupied Properties | 41.40% | 41.40% | 44.30% | ||
Underwriting Standards, Loan to Value Percentage | 80.00% | 80.00% | |||
Underwriting Standards, Housing Percentage | 36.00% | 36.00% | |||
Underwriting Standards, Total Debt Ratio | 42.00% | 42.00% | |||
Certain Loans Acquired in Transfer, Accretable Yield | $ 14,000 | ||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 38,000 | $ 71,000 | $ 118,000 | $ 224,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | $ 0 | |||
Financing Receivable, Modifications, Number of Contracts | 5 | 5 | |||
Financing Receivable, Modifications, Recorded Investment | 2,614,000 | $ 2,614,000 | $ 3,060,000 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | 0 | 0 | ||
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 680,000 | 680,000 | 722,000 | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 0 | ||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 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% | 110.00% | |||
Loans and Leases Receivable, Gross | $ 602,569,000 | $ 477,327,000 | $ 602,569,000 | $ 477,327,000 | 541,032,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 602,569,000 | $ 602,569,000 | $ 541,032,000 |
Note 5 - Loans - Loans (Details
Note 5 - Loans - Loans (Details) - USD ($) | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Loans | $ 18,861,000 | $ 19,363,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||||||
Loans | 384,164,000 | 363,644,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||||||
Loans | 9,561,000 | 10,239,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||||
Loans | 56,651,000 | 29,801,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans | 469,237,000 | 423,047,000 | $ 392,339,000 | |||
Allowance for loan losses | (6,071,000) | $ (6,133,000) | (5,920,000) | (5,897,000) | $ (5,884,000) | $ (5,963,000) |
Commercial Portfolio Segment [Member] | ||||||
Loans | 68,073,000 | 63,776,000 | 48,943,000 | |||
Allowance for loan losses | (731,000) | (671,000) | (627,000) | (673,000) | (583,000) | (720,000) |
Consumer Portfolio Segment [Member] | ||||||
Loans | 736,000 | 774,000 | 638,000 | |||
Allowance for loan losses | (48,000) | (55,000) | (38,000) | (41,000) | (45,000) | (42,000) |
Residential Portfolio Segment [Member] | ||||||
Loans | 36,756,000 | 32,588,000 | 22,078,000 | |||
Allowance for loan losses | (379,000) | (387,000) | (426,000) | (466,000) | (480,000) | (388,000) |
Agriculture [Member] | ||||||
Loans | 27,767,000 | 20,847,000 | 13,329,000 | |||
Allowance for loan losses | (494,000) | (431,000) | (309,000) | (248,000) | (263,000) | (286,000) |
Loans | 602,569,000 | 541,032,000 | 477,327,000 | |||
Deferred loan fees and costs, net | (2,152,000) | (3,282,000) | ||||
Allowance for loan losses | (7,767,000) | $ (7,680,000) | (7,356,000) | $ (7,389,000) | $ (7,390,000) | $ (7,534,000) |
Net loans | $ 592,650,000 | $ 530,394,000 |
Note 5 - Loans - Purchased Cred
Note 5 - Loans - Purchased Credit-impaired and Other Loans, Fair Value (Details) | Dec. 23, 2015USD ($) |
Mother Lode Bank [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |
Contractually required payments including interest | $ 1,982,000 |
Less: nonaccretable difference | (1,103,000) |
Cash flows expected to be collected (undiscounted) | 879,000 |
Accretable yield | (14,000) |
Fair value of purchased loans | 865,000 |
Mother Lode Bank [Member] | Other Purchased Loans [Member] | |
Contractually required payments including interest | 44,007,000 |
Less: nonaccretable difference | 0 |
Cash flows expected to be collected (undiscounted) | 44,007,000 |
Accretable yield | (2,041,000) |
Fair value of purchased loans | 41,966,000 |
Mother Lode Bank [Member] | |
Contractually required payments including interest | 42,831,000 |
Contractually required payments including interest | 45,989,000 |
Less: nonaccretable difference | (1,103,000) |
Cash flows expected to be collected (undiscounted) | 44,886,000 |
Accretable yield | (2,055,000) |
Fair value of purchased loans | $ 42,831,000 |
Note 5 - Loans - Outstanding Ba
Note 5 - Loans - Outstanding Balance and Related Carrying Value of PCI (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Mother Lode Bank [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Unpaid principal balance | $ 0 | $ 0 | |
Loans | 0 | 0 | |
Mother Lode Bank [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Unpaid principal balance | 0 | 196,000 | |
Loans | 0 | 118,000 | |
Mother Lode Bank [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Unpaid principal balance | 280,000 | 795,000 | |
Loans | 33,000 | 269,000 | |
Mother Lode Bank [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Unpaid principal balance | 0 | 0 | |
Loans | 0 | 0 | |
Mother Lode Bank [Member] | Commercial Portfolio Segment [Member] | |||
Unpaid principal balance | 499,000 | 794,000 | |
Loans | 499,000 | 478,000 | |
Mother Lode Bank [Member] | Consumer Portfolio Segment [Member] | |||
Unpaid principal balance | 0 | 0 | |
Loans | 0 | 0 | |
Mother Lode Bank [Member] | Residential Portfolio Segment [Member] | |||
Unpaid principal balance | 0 | 0 | |
Loans | 0 | 0 | |
Mother Lode Bank [Member] | Agriculture [Member] | |||
Unpaid principal balance | 0 | 0 | |
Loans | 0 | 0 | |
Mother Lode Bank [Member] | |||
Unpaid principal balance | 779,000 | 1,785,000 | |
Loans | 532,000 | 865,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Unpaid principal balance | 0 | 0 | |
Loans | 18,861,000 | 19,363,000 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Unpaid principal balance | 0 | 0 | |
Loans | 384,164,000 | 363,644,000 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Unpaid principal balance | 2,712,000 | 3,856,000 | |
Loans | 9,561,000 | 10,239,000 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Unpaid principal balance | 0 | 63,000 | |
Loans | 56,651,000 | 29,801,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 469,237,000 | 423,047,000 | $ 392,339,000 |
Commercial Portfolio Segment [Member] | |||
Unpaid principal balance | 354,000 | 357,000 | |
Loans | 68,073,000 | 63,776,000 | 48,943,000 |
Consumer Portfolio Segment [Member] | |||
Unpaid principal balance | 0 | 0 | |
Loans | 736,000 | 774,000 | 638,000 |
Residential Portfolio Segment [Member] | |||
Unpaid principal balance | 0 | 0 | |
Loans | 36,756,000 | 32,588,000 | 22,078,000 |
Unpaid principal balance | 3,066,000 | 6,980,000 | |
Loans | $ 602,569,000 | $ 541,032,000 | $ 477,327,000 |
Note 5 - Loans - Non Accrual Lo
Note 5 - Loans - Non Accrual Loans (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Non Accrual Loans | $ 2,305,000 | $ 2,739,000 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Non Accrual Loans | 0 | 51,000 |
Commercial Portfolio Segment [Member] | ||
Non Accrual Loans | 309,000 | 322,000 |
Agriculture [Member] | ||
Non Accrual Loans | 0 | 2,704,000 |
Non Accrual Loans | $ 2,614,000 | $ 5,816,000 |
Note 5 - Loans - Aging of Past
Note 5 - Loans - Aging of Past Due Loans (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | $ 0 | $ 0 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Non Accrual Loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Past due | 0 | 0 | |
Current | 18,861,000 | 19,363,000 | |
Non Accrual Loans | 0 | 0 | |
Loans | 18,861,000 | 19,363,000 | |
Greater than 90 days past due and still accruing | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Non Accrual Loans | 0 | 118,000 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Past due | 0 | 0 | |
Current | 384,164,000 | 363,526,000 | |
Non Accrual Loans | 0 | 0 | |
Loans | 384,164,000 | 363,644,000 | |
Greater than 90 days past due and still accruing | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 289,000 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 2,296,000 | 2,261,000 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Non Accrual Loans | 33,000 | 269,000 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Past due | 2,585,000 | 2,261,000 | |
Current | 6,943,000 | 7,709,000 | |
Non Accrual Loans | 2,305,000 | 2,739,000 | |
Loans | 9,561,000 | 10,239,000 | |
Greater than 90 days past due and still accruing | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 0 | 1,182,000 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 51,000 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Non Accrual Loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Past due | 0 | 1,233,000 | |
Current | 56,651,000 | 28,568,000 | |
Non Accrual Loans | 0 | 51,000 | |
Loans | 56,651,000 | 29,801,000 | |
Greater than 90 days past due and still accruing | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 469,237,000 | 423,047,000 | $ 392,339,000 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 0 | 352,000 | |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 304,000 | 312,000 | |
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Non Accrual Loans | 499,000 | 478,000 | |
Commercial Portfolio Segment [Member] | |||
Past due | 304,000 | 664,000 | |
Current | 67,270,000 | 62,634,000 | |
Non Accrual Loans | 309,000 | 322,000 | |
Loans | 68,073,000 | 63,776,000 | 48,943,000 |
Greater than 90 days past due and still accruing | 0 | 0 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 27,000 | 0 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Non Accrual Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Past due | 27,000 | 0 | |
Current | 709,000 | 774,000 | |
Non Accrual Loans | 0 | 0 | |
Loans | 736,000 | 774,000 | 638,000 |
Greater than 90 days past due and still accruing | 0 | 0 | |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Residential Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Non Accrual Loans | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Past due | 0 | 0 | |
Current | 36,756,000 | 32,588,000 | |
Non Accrual Loans | 0 | 0 | |
Loans | 36,756,000 | 32,588,000 | 22,078,000 |
Greater than 90 days past due and still accruing | 0 | 0 | |
Agriculture [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Agriculture [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 0 | 2,704,000 | |
Agriculture [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Non Accrual Loans | 0 | 0 | |
Agriculture [Member] | |||
Past due | 0 | 2,704,000 | |
Current | 27,767,000 | 18,143,000 | |
Non Accrual Loans | 0 | 2,704,000 | |
Loans | 27,767,000 | 20,847,000 | 13,329,000 |
Greater than 90 days past due and still accruing | 0 | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 316,000 | 1,534,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 0 | 2,704,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 2,600,000 | 2,624,000 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Non Accrual Loans | 532,000 | 865,000 | |
Past due | 2,916,000 | 6,862,000 | |
Current | 599,121,000 | 533,305,000 | |
Non Accrual Loans | 2,614,000 | 5,816,000 | |
Loans | 602,569,000 | 541,032,000 | $ 477,327,000 |
Greater than 90 days past due and still accruing | $ 0 | $ 0 |
Note 5 - Loans - Impaired Loans
Note 5 - Loans - Impaired Loans (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Unpaid principal balance | $ 0 | $ 0 |
Recorded investment with no allowance | 0 | 0 |
Recorded investment with allowance | 0 | 0 |
Non Accrual Loans | 0 | 0 |
Related Allowance | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||
Unpaid principal balance | 0 | 0 |
Recorded investment with no allowance | 0 | 0 |
Recorded investment with allowance | 0 | 0 |
Non Accrual Loans | 0 | 0 |
Related Allowance | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Unpaid principal balance | 2,712,000 | 3,856,000 |
Recorded investment with no allowance | 744,000 | 0 |
Recorded investment with allowance | 1,561,000 | 2,739,000 |
Non Accrual Loans | 2,305,000 | 2,739,000 |
Related Allowance | 680,000 | 722,000 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Unpaid principal balance | 0 | 63,000 |
Recorded investment with no allowance | 0 | 51,000 |
Recorded investment with allowance | 0 | 0 |
Non Accrual Loans | 0 | 51,000 |
Related Allowance | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Unpaid principal balance | 354,000 | 357,000 |
Recorded investment with no allowance | 309,000 | 322,000 |
Recorded investment with allowance | 0 | 0 |
Non Accrual Loans | 309,000 | 322,000 |
Related Allowance | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Unpaid principal balance | 0 | 0 |
Recorded investment with no allowance | 0 | 0 |
Recorded investment with allowance | 0 | 0 |
Non Accrual Loans | 0 | 0 |
Related Allowance | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Unpaid principal balance | 0 | 0 |
Recorded investment with no allowance | 0 | 0 |
Recorded investment with allowance | 0 | 0 |
Non Accrual Loans | 0 | 0 |
Related Allowance | 0 | 0 |
Agriculture [Member] | ||
Unpaid principal balance | 0 | 2,704,000 |
Recorded investment with no allowance | 0 | 2,704,000 |
Recorded investment with allowance | 0 | 0 |
Non Accrual Loans | 0 | 2,704,000 |
Related Allowance | 0 | 0 |
Unpaid principal balance | 3,066,000 | 6,980,000 |
Recorded investment with no allowance | 1,053,000 | 3,077,000 |
Recorded investment with allowance | 1,561,000 | 2,739,000 |
Non Accrual Loans | 2,614,000 | 5,816,000 |
Related Allowance | $ 680,000 | $ 722,000 |
Note 5 - Loans - Impaired Loa38
Note 5 - Loans - Impaired Loans, Average Recorded Investment (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Average recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||||
Average recorded investment | 0 | 0 | 0 | 216,000 |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||||
Average recorded investment | 2,324,000 | 2,931,000 | 2,439,000 | 2,961,000 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||
Average recorded investment | 0 | 59,000 | 0 | 64,000 |
Commercial Portfolio Segment [Member] | ||||
Average recorded investment | 312,000 | 1,335,000 | 316,000 | 1,182,000 |
Consumer Portfolio Segment [Member] | ||||
Average recorded investment | 0 | 0 | 0 | 0 |
Residential Portfolio Segment [Member] | ||||
Average recorded investment | 0 | 0 | 0 | 0 |
Agriculture [Member] | ||||
Average recorded investment | 0 | 0 | 0 | 0 |
Average recorded investment | $ 2,636,000 | $ 4,325,000 | $ 2,755,000 | $ 4,423,000 |
Note 5 - Loans - Troubled Debt
Note 5 - Loans - Troubled Debt Restructurings (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Extended Maturity [Member] | |||||
Number of loans | 0 | 0 | 0 | 0 | |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Extended Maturity [Member] | |||||
Number of loans | 0 | 0 | 0 | 0 | |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Extended Maturity [Member] | |||||
Number of loans | 1 | 0 | 1 | 1 | |
Pre-modification outstanding recorded investment | $ 292,000 | $ 0 | $ 292,000 | $ 570,000 | |
Post-modification outstanding recorded investment | $ 292,000 | $ 0 | $ 292,000 | $ 570,000 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Extended Maturity [Member] | |||||
Number of loans | 0 | 0 | 0 | 0 | |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Commercial Portfolio Segment [Member] | Extended Maturity [Member] | |||||
Number of loans | 0 | 0 | 0 | 1 | |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 24,000 | |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 24,000 | |
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | |||||
Number of loans | 0 | 0 | 0 | 0 | |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Residential Portfolio Segment [Member] | Extended Maturity [Member] | |||||
Number of loans | 0 | 0 | 0 | 0 | |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Agriculture [Member] | Extended Maturity [Member] | |||||
Number of loans | 0 | 0 | 0 | 0 | |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Extended Maturity [Member] | |||||
Number of loans | 1 | 1 | 1 | 2 | |
Pre-modification outstanding recorded investment | $ 292,000 | $ 0 | $ 292,000 | $ 594,000 | |
Post-modification outstanding recorded investment | $ 292,000 | $ 0 | $ 292,000 | $ 594,000 | |
Number of loans | 5 | 5 |
Note 5 - Loans - Weighted Avera
Note 5 - Loans - Weighted Average Risk Grades of Loan Portfolio (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Weighted average risk grade of loans | 3.11 | 3.72 |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||
Weighted average risk grade of loans | 3.01 | 3.16 |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Weighted average risk grade of loans | 4.3 | 4.58 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Weighted average risk grade of loans | 3 | 3.12 |
Commercial Portfolio Segment [Member] | ||
Weighted average risk grade of loans | 3 | 3.57 |
Consumer Portfolio Segment [Member] | ||
Weighted average risk grade of loans | 2.24 | 1.99 |
Residential Portfolio Segment [Member] | ||
Weighted average risk grade of loans | 2.97 | 3.01 |
Agriculture [Member] | ||
Weighted average risk grade of loans | 3.08 | 3.39 |
Weighted average risk grade of loans | 3.03 | 3.25 |
Note 5 - Loans - Loans by Credi
Note 5 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans | $ 17,827,000 | $ 18,312,000 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Loans | 383,023,000 | 357,339,000 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Loans | 6,780,000 | 6,358,000 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Loans | 56,651,000 | 28,568,000 | |
Pass [Member] | Commercial Portfolio Segment [Member] | |||
Loans | 65,977,000 | 55,957,000 | |
Pass [Member] | Consumer Portfolio Segment [Member] | |||
Loans | 708,000 | 745,000 | |
Pass [Member] | Residential Portfolio Segment [Member] | |||
Loans | 36,347,000 | 32,532,000 | |
Pass [Member] | Agriculture [Member] | |||
Loans | 27,767,000 | 18,143,000 | |
Pass [Member] | |||
Loans | 595,080,000 | 517,954,000 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans | 1,034,000 | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Loans | 1,072,000 | 4,389,000 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Loans | 110,000 | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Loans | |||
Special Mention [Member] | Commercial Portfolio Segment [Member] | |||
Loans | 338,000 | 6,153,000 | |
Special Mention [Member] | Consumer Portfolio Segment [Member] | |||
Loans | |||
Special Mention [Member] | Residential Portfolio Segment [Member] | |||
Loans | 33,000 | ||
Special Mention [Member] | Agriculture [Member] | |||
Loans | |||
Special Mention [Member] | |||
Loans | 2,477,000 | 10,652,000 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans | 1,051,000 | ||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Loans | 69,000 | 1,916,000 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Loans | 2,501,000 | 3,283,000 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Loans | 1,233,000 | ||
Substandard [Member] | Commercial Portfolio Segment [Member] | |||
Loans | 1,758,000 | 1,416,000 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | |||
Loans | 28,000 | 29,000 | |
Substandard [Member] | Residential Portfolio Segment [Member] | |||
Loans | 376,000 | 56,000 | |
Substandard [Member] | Agriculture [Member] | |||
Loans | 2,704,000 | ||
Substandard [Member] | |||
Loans | 4,732,000 | 11,688,000 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans | |||
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Loans | |||
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Loans | 280,000 | 488,000 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Loans | |||
Doubtful [Member] | Commercial Portfolio Segment [Member] | |||
Loans | 250,000 | ||
Doubtful [Member] | Consumer Portfolio Segment [Member] | |||
Loans | |||
Doubtful [Member] | Residential Portfolio Segment [Member] | |||
Loans | |||
Doubtful [Member] | Agriculture [Member] | |||
Loans | |||
Doubtful [Member] | |||
Loans | 280,000 | 738,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans | 18,861,000 | 19,363,000 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||
Loans | 384,164,000 | 363,644,000 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||
Loans | 9,561,000 | 10,239,000 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Loans | 56,651,000 | 29,801,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 469,237,000 | 423,047,000 | $ 392,339,000 |
Commercial Portfolio Segment [Member] | |||
Loans | 68,073,000 | 63,776,000 | 48,943,000 |
Consumer Portfolio Segment [Member] | |||
Loans | 736,000 | 774,000 | 638,000 |
Residential Portfolio Segment [Member] | |||
Loans | 36,756,000 | 32,588,000 | 22,078,000 |
Agriculture [Member] | |||
Loans | 27,767,000 | 20,847,000 | 13,329,000 |
Loans | $ 602,569,000 | $ 541,032,000 | $ 477,327,000 |
Note 5 - Loans - Allowance for
Note 5 - Loans - Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Commercial Real Estate Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | $ 33,000 | $ 387,000 | |||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Beginning balance | $ 6,133,000 | $ 5,884,000 | $ 5,920,000 | $ 5,963,000 | |||
Charge-offs | 0 | 0 | 0 | 0 | |||
Recoveries | 0 | 1,000 | 3,000 | 2,000 | |||
Provision (reversal of provision) for loan losses | (62,000) | 12,000 | 148,000 | (68,000) | |||
Ending balance | 6,071,000 | 5,897,000 | 6,071,000 | 5,897,000 | |||
Individually evaluated for impairment | 680,000 | 722,000 | $ 833,000 | ||||
Collectively evaluated for impairment | 5,391,000 | 5,198,000 | 5,064,000 | ||||
6,133,000 | 5,884,000 | 6,071,000 | 5,897,000 | 6,071,000 | 5,920,000 | 5,897,000 | |
Individually evaluated for impairment | 2,305,000 | 2,790,000 | 2,975,000 | ||||
Collectively evaluated for impairment | 466,899,000 | 419,870,000 | 389,364,000 | ||||
Loans and Leases Receivable, Gross | 469,237,000 | 423,047,000 | 392,339,000 | ||||
469,237,000 | 423,047,000 | 392,339,000 | |||||
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 499,000 | 478,000 | |||||
Commercial Portfolio Segment [Member] | |||||||
Beginning balance | 671,000 | 583,000 | 627,000 | 720,000 | |||
Charge-offs | 0 | 0 | 0 | 0 | |||
Recoveries | 0 | 0 | 0 | 0 | |||
Provision (reversal of provision) for loan losses | 60,000 | 90,000 | 104,000 | (47,000) | |||
Ending balance | 731,000 | 673,000 | 731,000 | 673,000 | |||
Individually evaluated for impairment | 0 | 0 | 70,000 | ||||
Collectively evaluated for impairment | 731,000 | 627,000 | 603,000 | ||||
671,000 | 583,000 | 731,000 | 673,000 | 731,000 | 627,000 | 673,000 | |
Individually evaluated for impairment | 309,000 | 322,000 | 1,314,000 | ||||
Collectively evaluated for impairment | 67,265,000 | 62,976,000 | 47,629,000 | ||||
Loans and Leases Receivable, Gross | 68,073,000 | 63,776,000 | 48,943,000 | ||||
68,073,000 | 63,776,000 | 48,943,000 | |||||
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 0 | 0 | |||||
Consumer Portfolio Segment [Member] | |||||||
Beginning balance | 55,000 | 45,000 | 38,000 | 42,000 | |||
Charge-offs | (5,000) | (2,000) | (12,000) | (24,000) | |||
Recoveries | 2,000 | 0 | 5,000 | 2,000 | |||
Provision (reversal of provision) for loan losses | (4,000) | (2,000) | 17,000 | 21,000 | |||
Ending balance | 48,000 | 41,000 | 48,000 | 41,000 | |||
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 48,000 | 38,000 | 41,000 | ||||
55,000 | 45,000 | 48,000 | 41,000 | 48,000 | 38,000 | 41,000 | |
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 736,000 | 774,000 | 638,000 | ||||
Loans and Leases Receivable, Gross | 736,000 | 774,000 | 638,000 | ||||
736,000 | 774,000 | 638,000 | |||||
Residential Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 0 | 0 | |||||
Residential Portfolio Segment [Member] | |||||||
Beginning balance | 387,000 | 480,000 | 426,000 | 388,000 | |||
Charge-offs | 0 | 0 | 0 | 0 | |||
Recoveries | 0 | 0 | 0 | 0 | |||
Provision (reversal of provision) for loan losses | (8,000) | (14,000) | (47,000) | 78,000 | |||
Ending balance | 379,000 | 466,000 | 379,000 | 466,000 | |||
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 379,000 | 426,000 | 466,000 | ||||
387,000 | 480,000 | 379,000 | 466,000 | 379,000 | 426,000 | 466,000 | |
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 36,756,000 | 32,588,000 | 22,078,000 | ||||
Loans and Leases Receivable, Gross | 36,756,000 | 32,588,000 | 22,078,000 | ||||
36,756,000 | 32,588,000 | 22,078,000 | |||||
Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 0 | 0 | |||||
Agriculture [Member] | |||||||
Beginning balance | 431,000 | 263,000 | 309,000 | 286,000 | |||
Charge-offs | 0 | 0 | 0 | 0 | |||
Recoveries | 0 | 0 | 0 | 0 | |||
Provision (reversal of provision) for loan losses | 63,000 | (15,000) | 185,000 | (38,000) | |||
Ending balance | 494,000 | 248,000 | 494,000 | 248,000 | |||
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 494,000 | 309,000 | 248,000 | ||||
431,000 | 263,000 | 494,000 | 248,000 | 494,000 | 309,000 | 248,000 | |
Individually evaluated for impairment | 0 | 2,704,000 | 0 | ||||
Collectively evaluated for impairment | 27,767,000 | 18,143,000 | 13,329,000 | ||||
Loans and Leases Receivable, Gross | 27,767,000 | 20,847,000 | 13,329,000 | ||||
27,767,000 | 20,847,000 | 13,329,000 | |||||
Unallocated Financing Receivables [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 0 | 0 | |||||
Unallocated Financing Receivables [Member] | |||||||
Beginning balance | 3,000 | 135,000 | 36,000 | 135,000 | |||
Charge-offs | 0 | 0 | 0 | 0 | |||
Recoveries | 0 | 0 | 0 | 0 | |||
Provision (reversal of provision) for loan losses | 41,000 | (71,000) | 8,000 | (71,000) | |||
Ending balance | 44,000 | 64,000 | 44,000 | 64,000 | |||
Individually evaluated for impairment | 0 | ||||||
Collectively evaluated for impairment | 44,000 | 36,000 | 64,000 | ||||
3,000 | 135,000 | 44,000 | 64,000 | 44,000 | 36,000 | 64,000 | |
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 0 | 0 | 0 | ||||
Loans and Leases Receivable, Gross | 0 | 0 | 0 | ||||
0 | 0 | 0 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 532,000 | 865,000 | |||||
Beginning balance | 7,680,000 | 7,390,000 | 7,356,000 | 7,534,000 | |||
Charge-offs | (5,000) | (2,000) | (12,000) | (24,000) | |||
Recoveries | 2,000 | 1,000 | 8,000 | 4,000 | |||
Provision (reversal of provision) for loan losses | 90,000 | 0 | 415,000 | (125,000) | |||
Ending balance | 7,767,000 | 7,389,000 | 7,767,000 | 7,389,000 | |||
Individually evaluated for impairment | 680,000 | 722,000 | 903,000 | ||||
Collectively evaluated for impairment | 7,087,000 | 6,634,000 | 6,486,000 | ||||
$ 7,767,000 | $ 7,390,000 | $ 7,767,000 | $ 7,389,000 | 7,767,000 | 7,356,000 | 7,389,000 | |
Individually evaluated for impairment | 2,614,000 | 5,816,000 | 4,289,000 | ||||
Collectively evaluated for impairment | 599,423,000 | 534,351,000 | 473,038,000 | ||||
Loans and Leases Receivable, Gross | 602,569,000 | 541,032,000 | 477,327,000 | ||||
$ 602,569,000 | $ 541,032,000 | $ 477,327,000 |
Note 5 - Loans - Changes in the
Note 5 - Loans - Changes in the Allowance Off Balance Sheet Commitments (Details) - Loan Origination Commitments [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Balance, beginning of period | $ 257 | $ 234 | $ 238 | $ 218 |
(Recovery) Provision to Operations for Off Balance Sheet Commitments | 6 | 23 | (25) | (39) |
Balance, end of period | $ 263 | $ 257 | $ 263 | $ 257 |
Note 6 - Other Real Estate Ow44
Note 6 - Other Real Estate Owned (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Mother Lode Bank [Member] | ||||
Number of Real Estate Properties | 1 | 1 | ||
Real Estate Acquired Through Foreclosure | $ 275,000 | $ 275,000 | ||
Residential Portfolio Segment [Member] | ||||
Number of Real Estate Properties, Written Off | 1 | 1 | 1 | |
Real Estate Acquired in Satisfaction of Debt [Member] | ||||
Number of Real Estate Properties | 1 | 1 | ||
Real Estate Owned, Transfer to Real Estate Owned | $ 253,000 | $ 253,000 | ||
Number of Real Estate Properties | 4 | 4 | 5 | |
Real Estate Acquired Through Foreclosure | $ 1,485,000 | $ 1,485,000 | $ 2,066,000 | |
Real Estate Owned, Transfer to Real Estate Owned | $ 253,000 | $ 0 | ||
Number of Real Estate Properties, Disposed Of | 2 | 0 |
Note 7 - Other Post-retiremen45
Note 7 - Other Post-retirement Benefit Plans (Details Textual) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2014USD ($) | Jan. 31, 2008USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Minimum [Member] | ||||||
Other Postretirement Defined Benefit Plan Expected Annual Future Benefit Payments Period | 10 years | |||||
Maximum [Member] | ||||||
Other Postretirement Defined Benefit Plan Expected Annual Future Benefit Payments Period | 20 years | |||||
Director Retirement Plan [Member] | ||||||
Other Postretirement Defined Benefit Plan Expected Annual Future Benefit Payments Period | 10 years | |||||
Number Of Directors Awarded Director Retirement Plan | 3 | 2 | ||||
Other Postretirement Defined Benefit Plan, Liabilities | $ 2,520,000 | $ 2,520,000 | $ 2,440,000 | |||
Payments to Acquire Life Insurance Policies | $ 1,000,000 | $ 4,700,000 | 4,000,000 | 4,000,000 | $ 0 | |
Bank Owned Life Insurance | $ 17,868,000 | $ 17,868,000 | $ 13,747,000 |
Note 8 - Financial Instrument46
Note 8 - Financial Instruments and Fair Value Measurements (Details Textual) | 9 Months Ended |
Sep. 30, 2016 | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | |
Fair Value Inputs, Discount Rate | 6.00% |
Note 8 - Financial Instrument47
Note 8 - Financial Instruments and Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Inputs, Level 1 [Member] | ||||
Cash and cash equivalents | $ 147,263,000 | $ 190,603,000 | ||
Cash and cash equivalents, fair value | 147,263,000 | 190,603,000 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Restricted equity securities | 3,795,000 | 3,716,000 | ||
Restricted equity securities, fair value | 3,795,000 | 3,716,000 | ||
Interest receivable | 2,367,000 | 2,420,000 | ||
Interest payable | (34,000) | (36,000) | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Loans, net | 592,650,000 | 530,394,000 | ||
Loans, net, fair value | 600,152,000 | 537,761,000 | ||
Deposits | (859,756,000) | (814,691,000) | ||
Deposits, fair value | (791,550,000) | (725,982,000) | ||
Commitments and standby letters of credit, fair value | (1,308,000) | (917,000) | ||
Cash and cash equivalents | 147,263,000 | 190,603,000 | $ 156,614,000 | $ 144,288,000 |
Loans, net | 592,650,000 | 530,394,000 | ||
Deposits | $ (859,756,000) | $ (814,691,000) |
Note 8 - Assets and Liabilities
Note 8 - Assets and Liabilities Measured at Fair Value on Recurring and Non Recurring Basis (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | $ 0 | $ 0 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 30,015,000 | 32,868,000 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 30,015,000 | 32,868,000 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 4,344,000 | 2,719,000 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available for sale | 4,344,000 | 2,719,000 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 77,553,000 | 68,586,000 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 77,553,000 | 68,586,000 |
Fair Value, Measurements, Recurring [Member] | SBA Pool [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | SBA Pool [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 5,201,000 | 806,000 |
Fair Value, Measurements, Recurring [Member] | SBA Pool [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | SBA Pool [Member] | ||
Securities available for sale | 5,201,000 | 806,000 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 21,065,000 | 10,944,000 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 2,476,000 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Securities available for sale | 21,065,000 | 13,420,000 |
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 18,789,000 | 10,138,000 |
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | ||
Securities available for sale | 18,789,000 | 10,138,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member] | ||
Securities available for sale | 3,110,000 | 3,009,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Mutual Fund [Member] | ||
Securities available for sale | 3,110,000 | 3,009,000 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Portfolio Segment [Member] | ||
Impaired loans | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Other real estate owned | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Portfolio Segment [Member] | ||
Impaired loans | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Other real estate owned | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Impaired loans | 2,016,000 | 1,965,000 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | ||
Impaired loans | 304,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other real estate owned | 1,485,000 | 2,066,000 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Impaired loans | 2,016,000 | 1,965,000 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | ||
Impaired loans | 304,000 | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Other real estate owned | 1,485,000 | 2,066,000 |
Securities available for sale | 160,077,000 | 131,546,000 |
Other real estate owned | $ 1,485,000 | $ 2,066,000 |
Note 9 - Earnings Per Share (De
Note 9 - Earnings Per Share (Details Textual) | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||
Sep. 30, 2016$ / sharesshares | Sep. 30, 2015$ / sharesshares | Sep. 30, 2016$ / sharesshares | Sep. 30, 2015$ / sharesshares | Sep. 30, 2016$ / sharesshares | Sep. 30, 2015$ / sharesshares | |
Restricted Stock [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 0 | 0 | 0 | 0 | ||
Employee Stock Option [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares | $ 9.95 | $ 9.95 | $ 9.95 | $ 9.95 | $ 9.95 | $ 9.95 |
Employee Stock Option [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares | $ 15 | $ 15.67 | $ 15 | $ 15.67 | $ 15 | $ 15.67 |
Employee Stock Option [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 12,261 | 45,128 | 22,446 | 52,945 | ||
Number Of Forms Of Outstanding Common Stock | 2 |
Note 9 - Earnings Per Share - E
Note 9 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Net income | $ 1,930,000 | $ 1,382,000 | $ 5,343,000 | $ 4,418,000 | $ 4,908,000 |
Weighted average shares outstanding (in shares) | 8,031 | 7,995 | 8,023 | 7,987 | |
Net income per common share (in dollars per share) | $ 0.24 | $ 0.17 | $ 0.67 | $ 0.55 | |
Effect of dilutive stock options (in shares) | 1 | 1 | 35 | 1 | |
Effect of dilutive non-vested restricted shares (in shares) | 31 | 45 | 1 | 46 | |
Weighted average shares of common stock and common stock equivalents (in shares) | 8,063 | 8,041 | 8,059 | 8,034 | |
NET INCOME PER DILUTED COMMON SHARE (in dollars per share) | $ 0.24 | $ 0.17 | $ 0.66 | $ 0.55 | |
BASIC EARNINGS PER SHARE | |||||
Net income | $ 1,930,000 | $ 1,382,000 | $ 5,343,000 | $ 4,418,000 | $ 4,908,000 |
Weighted average shares outstanding (in shares) | 8,031 | 7,995 | 8,023 | 7,987 | |
Net income per common share (in dollars per share) | $ 0.24 | $ 0.17 | $ 0.67 | $ 0.55 | |
Effect of dilutive stock options (in shares) | 1 | 1 | 35 | 1 | |
Effect of dilutive non-vested restricted shares (in shares) | 31 | 45 | 1 | 46 | |
Weighted average shares of common stock and common stock equivalents (in shares) | 8,063 | 8,041 | 8,059 | 8,034 | |
NET INCOME PER DILUTED COMMON SHARE (in dollars per share) | $ 0.24 | $ 0.17 | $ 0.66 | $ 0.55 |