Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 03, 2017 | |
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) | 8,098,605 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 129,633,000 | $ 179,025,000 |
Federal funds sold | 9,995,000 | 11,785,000 |
Cash and cash equivalents | 139,628,000 | 190,810,000 |
Securities available for sale | 180,857,000 | 160,333,000 |
Loans, net of allowance for loan loss of $7,917 and $7,832 at September 30, 2017 and December 31, 2016, respectively | 626,911,000 | 601,104,000 |
Bank premises and equipment, net | 13,048,000 | 13,688,000 |
Other real estate owned | 253,000 | 1,210,000 |
Interest receivable and other assets | 36,024,000 | 34,965,000 |
996,721,000 | 1,002,110,000 | |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Deposits | 901,716,000 | 914,093,000 |
Interest payable and other liabilities | 5,329,000 | 5,567,000 |
Total liabilities | 907,045,000 | 919,660,000 |
Commitments and contingencies | ||
Shareholders’ equity | ||
Common stock, no par value; 50,000,000 shares authorized, 8,098,605 and 8,088,455 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively | 24,773,000 | 24,682,000 |
Additional paid-in capital | 3,551,000 | 3,473,000 |
Retained earnings | 60,003,000 | 54,520,000 |
Accumulated other comprehensive income (loss), net of tax | 1,349,000 | (225,000) |
Total shareholders’ equity | 89,676,000 | 82,450,000 |
$ 996,721,000 | $ 1,002,110,000 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Net of allowance for loan loss | $ 7,917 | $ 7,832 |
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) | 8,098,605 | 8,088,455 |
Common stock, shares outstanding (in shares) | 8,098,605 | 8,088,455 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
INTEREST INCOME | ||||
Interest and fees on loans | $ 7,300 | $ 6,807 | $ 21,451 | $ 20,484 |
Interest on securities available for sale | 1,138 | 1,045 | 3,314 | 3,038 |
Interest on federal funds sold | 28 | 4 | 65 | 18 |
Interest on deposits with banks | 428 | 169 | 1,100 | 492 |
Total interest income | 8,894 | 8,025 | 25,930 | 24,032 |
INTEREST EXPENSE | ||||
Deposits | 274 | 196 | 773 | 555 |
Total interest expense | 274 | 196 | 773 | 555 |
Net interest income | 8,620 | 7,829 | 25,157 | 23,477 |
Provision for loan losses | 70 | 90 | 105 | 415 |
Net interest income after provision for loan losses | 8,550 | 7,739 | 25,052 | 23,062 |
OTHER INCOME | ||||
Service charges on deposits | 365 | 341 | 1,051 | 1,011 |
Earnings on cash surrender value of life insurance | 130 | 102 | 386 | 305 |
Mortgage commissions | 28 | 49 | 127 | 144 |
Gains on called securities | 4 | 10 | 394 | 28 |
Other | 749 | 575 | 2,824 | 1,682 |
Total non-interest income | 1,276 | 1,077 | 4,782 | 3,170 |
OTHER EXPENSES | ||||
Salaries and employee benefits | 3,534 | 3,225 | 10,603 | 9,950 |
Occupancy expenses | 823 | 819 | 2,496 | 2,470 |
Data processing fees | 399 | 435 | 1,154 | 1,346 |
Regulatory assessments (FDIC & DBO) | 102 | 178 | 381 | 505 |
Other operating expenses | 1,202 | 1,267 | 3,708 | 4,027 |
Total non-interest expense | 6,060 | 5,924 | 18,342 | 18,298 |
Net income before provision for income taxes | 3,766 | 2,892 | 11,492 | 7,934 |
PROVISION FOR INCOME TAXES | 1,298 | 962 | 3,987 | 2,591 |
NET INCOME | $ 2,468 | $ 1,930 | $ 7,505 | $ 5,343 |
NET INCOME PER COMMON SHARE (in dollars per share) | $ 0.31 | $ 0.24 | $ 0.93 | $ 0.67 |
NET INCOME PER DILUTED COMMON SHARE (in dollars per share) | $ 0.31 | $ 0.24 | $ 0.93 | $ 0.66 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net income | $ 2,468 | $ 1,930 | $ 7,505 | $ 5,343 |
Other comprehensive income: | ||||
Unrealized holdings gains (losses) arising during the period | 39 | (262) | 3,069 | 1,723 |
Less: reclassification for net gains included in net income | (4) | (10) | (394) | (29) |
Other comprehensive income (loss), before tax | 35 | (272) | 2,675 | 1,694 |
Tax expense (benefit) related to items of other comprehensive income | (14) | 112 | (1,101) | (697) |
Total other comprehensive income (loss) | 21 | (160) | 1,574 | 997 |
Comprehensive income | $ 2,489 | $ 1,770 | $ 9,079 | $ 6,340 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Dec. 31, 2015 | 8,078,155 | ||||
Balances at Dec. 31, 2015 | $ 24,682 | $ 3,217 | $ 48,795 | $ 1,569 | $ 78,263 |
Restricted stock issued (in shares) | 17,000 | ||||
Restricted stock issued | 0 | ||||
Restricted stock forfeited (in shares) | (6,700) | ||||
Restricted stock forfeited | 0 | ||||
Cash dividends declared | (1,940) | (1,940) | |||
Stock based compensation | 256 | 256 | |||
Other comprehensive income (loss) | (1,794) | (1,794) | |||
Net income | 7,665 | 7,665 | |||
Balances (in shares) at Dec. 31, 2016 | 8,088,455 | ||||
Balances at Dec. 31, 2016 | $ 24,682 | 3,473 | 54,520 | (225) | 82,450 |
Restricted stock issued (in shares) | 8,000 | ||||
Restricted stock issued | 0 | ||||
Restricted stock forfeited (in shares) | (6,850) | ||||
Restricted stock forfeited | 0 | ||||
Cash dividends declared | (2,022) | (2,022) | |||
Stock based compensation | 78 | 78 | |||
Other comprehensive income (loss) | 1,574 | 1,574 | |||
Net income | 7,505 | 7,505 | |||
Stock options exercised (in shares) | 9,000 | ||||
Stock options exercised | $ 91 | 91 | |||
Balances (in shares) at Sep. 30, 2017 | 8,098,605 | ||||
Balances at Sep. 30, 2017 | $ 24,773 | $ 3,551 | $ 60,003 | $ 1,349 | $ 89,676 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 7,505,000 | $ 5,343,000 |
Adjustments to reconcile net earnings to net cash from operating activities: | ||
Provision for loan losses | 105,000 | 415,000 |
Increase (decrease) in deferred fees/costs, net | 40,000 | (29,000) |
Depreciation | 847,000 | 948,000 |
Amortization of investment securities, net | 624,000 | 270,000 |
Stock based compensation | 78,000 | 195,000 |
Gain on sale of premises and equipment | 0 | (4,000) |
OREO (gain) loss on sales and write downs | (211,000) | 88,000 |
Gain on sales and calls of available for sale securities | (394,000) | (28,000) |
Earnings on cash surrender value of life insurance | (386,000) | (305,000) |
Gain on BOLI death benefit | 0 | (2,000) |
(Decrease) increase in interest payable and other liabilities | (238,000) | 320,000 |
Decrease in interest receivable | 101,000 | 52,000 |
Increase in other assets | (1,535,000) | (227,000) |
Net cash from operating activities | 6,536,000 | 7,035,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchases of available for sale securities | (41,542,000) | (47,182,000) |
Proceeds from maturities, calls, and principal paydowns of securities available for sale | 23,463,000 | 20,103,000 |
Net increase in loans | (25,952,000) | (62,895,000) |
Purchase of FHLB Stock | (340,000) | (79,000) |
Purchase of BOLI policies | 0 | (4,000,000) |
Proceeds from sale of OREO | 1,168,000 | 746,000 |
Proceeds from redemption of BOLI policies | 0 | 186,000 |
Proceeds from sales of premises and equipment | 0 | 4,000 |
Net purchases of premises and equipment | (207,000) | (383,000) |
Net cash used in investing activities | (43,410,000) | (93,500,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Shareholder cash dividends paid | (2,022,000) | (1,940,000) |
Net (decrease) increase in demand deposits and savings accounts | (8,381,000) | 40,612,000 |
Net (decrease) increase in time deposits | (3,996,000) | 4,453,000 |
Proceeds from sale of common stock and exercise of stock options | 91,000 | 0 |
Net cash (used in) from financing activities | (14,308,000) | 43,125,000 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (51,182,000) | (43,340,000) |
CASH AND CASH EQUIVALENTS, beginning of period | 190,810,000 | 190,603,000 |
CASH AND CASH EQUIVALENTS, end of period | 139,628,000 | 147,263,000 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 785,000 | 558,000 |
Income taxes | 4,437,000 | 1,434,000 |
NON-CASH INVESTING ACTIVITIES: | ||
Real estate acquired through foreclosure | 0 | 253,000 |
Change in unrealized gain on available-for-sale securities | $ 2,675,000 | $ 1,694,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | NOTE 1 – BASIS OF PRESENTATION On July 3, 2008 one The consolidated financial statements include the accounts of the parent company and its wholly-owned bank subsidiary. Unless otherwise stated, the “Company” refers to the consolidated entity, Oak Valley Bancorp, while the “Bank” refers to Oak Valley Community Bank. 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 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 nine September 30, 2017 not no 10 December 31, 2016. Oak Valley Community Bank is a Calif ornia state-chartered bank. The Company was incorporated under the laws of the State of California on May 31, 1990, May 28, 1991. On December 23, 2015, $7.3 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, accounting for income taxes, fair value measurements, and the determination, recognition and measurement of impaired loans. Actual results could differ from these estimates. |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014 09, 606 606 ● August 2015 No. 2015 14 one December 15, 2017. December 15, 2016, ● March 2016 No. 2016 08 ● April 2016 No. 2016 10 ● May 2016 No. 2016 12 The adoption of this update is not In September, 2015, No. 2015 16, Simplifying the Accounting for Measurement Period Adjustments (Topic 805 not December 15, 2015 not In January 2016, No. 2016 01, Financial Instruments - Overall (Subtopic 825 10 ● 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 not ● 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 December 15, 2017, not In February 2016, No. 2016 02, Leases (Topic 842 2016 02 December 15, 2018 not one In March 2016, 2016 09, Stock Compensation (Topic 718 2016 09 December 15, 2016, 2016 not In June 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, not In August 2016, No. 2016 15, Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments (Topic 230 eight December 15, 2017, not In January 2017, 2017 03, Accounting Changes and Error Corrections (Topic 250 323 September 22, 2016 November 17, 2016 2014 9 2016 02 2016 13 not |
Note 3 - Securities
Note 3 - Securities | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 – SECURITIES The amortized cost and estimated fair values of debt securities as of September 30, 2017 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 26,780 $ 513 $ (84 ) $ 27,209 Collateralized mortgage obligations 3,963 6 (29 ) 3,940 Municipalities 88,026 2,677 (103 ) 90,600 SBA pools 12,389 33 (15 ) 12,407 Corporate debt 19,356 98 (722 ) 18,732 Asset backed securities 24,727 137 (11 ) 24,853 Mutual fund 3,324 0 (208 ) 3,116 $ 178,565 $ 3,464 $ (1,172 ) $ 180,857 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, 2017 . (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 $ 6,464 (72 ) $ 1,841 $ (12 ) $ 8,305 $ (84 ) Collateralized mortgage obligations 1,122 (10 ) 968 (19 ) 2,090 (29 ) Municipalities 10,158 (58 ) 2,879 (45 ) 13,037 (103 ) SBA pools 3,812 (8 ) 716 (7 ) 4,528 (15 ) Corporate debt 1,984 (16 ) 13,785 (706 ) 15,769 (722 ) Asset backed securities 6,219 (9 ) 347 (2 ) 6,566 (11 ) Mutual fund 0 0 3,116 (208 ) 3,116 (208 ) Total temporarily impaired securities $ 29,759 $ (173 ) $ 23,652 $ (999 ) $ 53,411 $ (1,172 ) At September 30, 2017, ten four two one one one one 12 twelve five four two one one 12 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 no not not The a mortized cost and estimated fair value of investment securities at September 30, 2017, may (dollars in thousands) Amortized Fair Cost Value Available-for-sale securities: Due in one year or less $ 12,724 $ 12,981 Due after one year through five years 57,326 57,740 Due after five years through ten years 56,841 58,143 Due after ten years 51,674 51,993 $ 178,565 $ 180,857 The amortized cost and estimated fair values of debt securities as of December 31, 2016, (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 27,879 $ 616 $ (209 ) $ 28,286 Collateralized mortgage obligations 4,159 7 (57 ) 4,109 Municipalities 77,957 1,318 (946 ) 78,329 SBA pools 7,219 0 (51 ) 7,168 Corporate debt 21,349 81 (867 ) 20,563 Asset backed securities 18,888 32 (101 ) 18,819 Mutual fund 3,264 0 (205 ) 3,059 $ 160,715 $ 2,054 $ (2,436 ) $ 160,333 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, 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 $ 8,769 $ (208 ) $ 718 $ (1 ) $ 9,487 $ (209 ) Collateralized mortgage obligations 3,166 (57 ) 0 0 3,166 (57 ) Municipalities 45,137 (917 ) 402 (29 ) 45,539 (946 ) SBA pools 6,415 (46 ) 753 (5 ) 7,168 (51 ) Corporate debt 12,776 (757 ) 2,884 (110 ) 15,660 (867 ) Asset backed securities 2,576 (15 ) 8,272 (86 ) 10,848 (101 ) Mutual fund 0 0 3,059 (205 ) 3,059 (205 ) Total temporarily impaired securities $ 78,839 $ (2,000 ) $ 16,088 $ (436 ) $ 94,927 $ (2,436 ) We recognized gross gains of $4,000 $394,000 three nine September 30, 2017 , respectively, on certain available-for-sale securities that were called, which compares to $10 ,000 $29 ,000 2016. no first nine 2017 2016. Securities ca rried at $93,594 ,000 $89,362 ,000 September 30, 2017 December 31, 2016, |
Note 4 - Loans
Note 4 - Loans | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 – LOANS Our customers are primarily located in Stanislaus, San Joaquin, Tuo lumne, Inyo, and Mono Counties. As of September 30, 2017, 79% 10% 6% 5% September 30, 2017 December 31, 2016 Commercial real estate: Commercial real estate- construction $ 20,254 $ 23,378 Commercial real estate- mortgages 417,253 389,495 Land 8,496 9,823 Farmland 56,670 56,159 Commercial and industrial 65,444 64,201 Consumer 607 767 Consumer residential 37,836 38,672 Agriculture 30,049 28,454 636,609 610,949 Deferred loan fees and costs, net (1,781 ) (2,013 ) Allowance for loan losses (7,917 ) (7,832 ) $ 626,911 $ 601,104 Loan Origination/Risk Management. The Company has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. Management reviews and approves these policies and procedures on a regular basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentration of credit, loan delinquencies and non-performing and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions. 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 may may may may 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 ’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 September 30, 2017 December 31, 2016, 42.3% 40.9%, With respect to loans to developers and builders that are secured by non-owner occupied properties that the Company may may may 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 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 not 80%, 36% 42%, 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. Non-Accrual and Past Due Loans. Loans are considered past due if the required principal and interest payments have not may may not Non-accrual loans, segregated by class of loans, were as f ollows: (in thousands) September 30, 2017 December 31, 2016 Commercial real estate: Commercial real estate- construction $ 0 $ 0 Commercial real estate- mortgages 0 0 Land 993 2,715 Farmland 0 0 Commercial and industrial 302 306 Consumer 0 0 Consumer residential 16 16 Agriculture 0 0 Total non-accrual loans $ 1,311 $ 3,037 Excluded from the above non-accrual loan table is the $33,000 one . Had non-accrual loans performed in accordance with their original contract terms, we would have recognized additional interest income of approximately $27,000 $95,000 three nine September 30, 2017, $38,000 $118,000 2016. 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, 2017 ( September 30, 2017 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 $ 20,254 $ 0 $ 20,254 $ 0 Commercial R.E. - mortgages 25 0 0 25 417,228 0 417,253 0 Land 0 0 993 993 7,470 33 8,496 0 Farmland 0 0 0 0 56,670 0 56,670 0 Commercial and industrial 0 0 302 302 65,142 0 65,444 0 Consumer 0 0 0 0 607 0 607 0 Consumer residential 0 0 0 0 37,836 0 37,836 0 Agriculture 0 0 0 0 30,049 0 30,049 0 Total $ 25 $ 0 $ 1,295 $ 1,320 $ 635,256 $ 33 $ 636,609 $ 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, 2016 December 31, 2016 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Purchased Credit Impaired Loans Total Greater Than 90 Days Past Due and Still Accruing Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 23,378 $ 0 23,378 $ 0 Commercial R.E. - mortgages 0 0 0 0 389,495 0 389,495 0 Land 0 0 2,715 2,715 7,075 33 9,823 0 Farmland 0 0 0 0 56,159 0 56,159 0 Commercial and industrial 0 0 302 302 63,899 0 64,201 0 Consumer 0 0 0 0 767 0 767 0 Consumer residential 0 0 16 16 38,656 0 38,672 0 Agriculture 0 0 0 0 28,454 0 28,454 0 Total $ 0 $ 0 $ 3,033 $ 3,033 $ 607,883 $ 33 610,949 $ 0 Impaired Loans. Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement, including scheduled principal and interest payments. Impairment is evaluated in total for smaller-balance loans of a similar nature and on an individual loan basis for other loans. If a loan is impaired, a specific valuation allowance is allocated, if necessary, so that the loan is reported net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is reasonably assured, in which case interest is recognized on a cash basis. There was no three nine September 30, 2017 2016. Impaired loans as of September 30, 2017 December 31, 2016 not (in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance September 30, 2017 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 1,309 0 993 993 680 Farmland 0 0 0 0 0 Commercial and Industrial 351 302 0 302 0 Consumer 0 0 0 0 0 Consumer residential 16 16 0 16 0 Agriculture 0 0 0 0 0 Total $ 1,676 $ 318 $ 993 $ 1,311 $ 680 (in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance December 31, 2016 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 3,131 0 2,715 2,715 680 Farmland 0 0 0 0 0 Commercial and Industrial 353 306 0 306 0 Consumer 0 0 0 0 0 Consumer residential 16 16 0 16 0 Agriculture 0 0 0 0 0 Total $ 3,500 $ 322 $ 2,715 $ 3,037 $ 680 Average recorded investment in impaired loans outstanding as of September 30, 2017 2016 Average Recorded Investment for the Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended (in thousands) September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 Land 1,518 2,324 2,018 2,439 Farmland 0 0 0 0 Commercial and Industrial 302 312 304 316 Consumer 0 0 0 0 Consumer residential 75 0 96 0 Agriculture 0 0 0 0 Total $ 1,895 $ 2,636 $ 2,418 $ 2,755 Troubled Debt Restructurings – In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. At September 30, 2017, 5 $1,311,000. December 31, 2016, 6 $3,037,000. September 30, 2017 December 31, 2016 no We have allocated $680,000 September 30, 2017 December 31, 2016. The modification of the terms of such loans typically includes one During the three nine September 30, 2017, no one $292,000 nine September 30, 2016. not no There were no the previous twelve three nine September 30, 2017 2016. ninety Loan Risk Grades – Quality ratings (Risk Grades) are assigned to all commitments and stand-alone notes. Risk grades define the basic characteristics of commitments or stand-alone note in relation to their risk. All loans are graded using a system that maximizes the loan quality information contained in loan review grades, while ensuring that the system is compatible with the grades used by bank examiners. We grade loans using the following letter system: 1 2 3 3 3 4 5 6 7 8 1. Exceptional Loan 1 -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 one 110% 2. Quality Loan No 2 -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 3 three three 3 3A third not 2 -Strong earnings with no three -Long term experienced management with depth and defined management succession. -The loan has no -Loan-to-value on real estate secured transactions is 10% 20% -Very liquid balance sheet that may -Little to no 3B. Acceptable Loan 3B 3A 3C not -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 3C 3Bs 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 may 4 5 Other Loans Especially Mentioned (Special Mention) may, -The lending officer may -Questions exist regarding the condition of and/or control over collateral. -Economic or market conditions may -A declining trend in the obligor ’s operations or an imbalanced position in the balance sheet exists, but not 6 Substandard Loan not not 7 Doubtful Loan one may may may not 40 65 25 40 65 A proper classification of such a credit would show 40 25 35 ‘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 8 Loss not not no not may not As of September 30, 2017 December 31, 2016, no 8 The following table presents weighted average risk grades of our loan portfolio: September 30, 2017 December 31, 2016 Weighted Average Risk Grade Weighted Average Risk Grade Commercial real estate: Commercial real estate - construction 3.00 3.07 Commercial real estate - mortgages 3.07 3.08 Land 3.98 4.39 Farmland 3.22 3.09 Commercial and industrial 3.59 2.70 Consumer 2.15 2.28 Consumer residential 3.01 3.03 Agriculture 3.20 3.08 Total gross loans 3.15 3.06 The following table presents risk grade totals by class of loans as of September 30, 2017 December 31, 2016. 1 4 (in thousands) Commercial R.E. Construction Commercial R.E. Mortgages Land (1) Farmland Commercial and Industrial Consumer Consumer Residential Agriculture Total September 30, 2017 Pass $ 20,254 $ 416,289 $ 7,041 $ 56,670 $ 60,335 $ 579 $ 37,773 $ 30,049 $ 628,990 Special mention - 258 - - 3,920 - - - 4,178 Substandard - 706 1,175 - 1,189 28 63 - 3,161 Doubtful - - 280 - - - - - 280 Total loans $ 20,254 $ 417,253 $ 8,496 $ 56,670 $ 65,444 $ 607 $ 37,836 $ 30,049 $ 636,609 December 31, 2016 Pass $ 22,560 $ 388,365 $ 6,637 $ 56,159 $ 62,770 $ 738 $ 38,300 $ 28,454 $ 603,983 Special mention 818 1,063 - - 189 - - - 2,070 Substandard - 67 2,906 1,242 29 372 - 4,616 Doubtful - - 280 - - - - - 280 Total loans $ 23,378 $ 389,495 $ 9,823 $ 56,159 $ 64,201 $ 767 $ 38,672 $ 28,454 $ 610,949 ( 1 Included in the above table is Purchased Credit Impaired loans recorded at their fair value of $33,000 September 30, 2017 December 31, 2016, which were acquired in the MLB Acquisition. Allowance for Loan Losses. The allowance for loan losses is a reserve established by the Company through a provision for loan losses charged to expense, which represents management’s best estimate of probable losses that have been incurred within the existing portfolio of loans. The allowance, in the judgment of management, is necessary to reserve for estimated loan losses and risks inherent in the loan portfolio. The allowance for loan loss methodology includes allowance allocations calculated in accordance with ASC Topic 310, 450, not 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 The Company ’s allowance for loan losses consists of three 310 450 450 not 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 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 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 September 30, 2017 2016. one not (in thousands) Commercial Commercial Consumer Three Months Ended September 30, 2017 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 6,247 $ 746 $ 30 $ 321 $ 453 $ 57 $ 7,854 Charge-offs 0 0 (9 ) 0 0 0 (9 ) Recoveries 0 0 2 0 0 0 2 (Reversal of) provision for loan losses 3 15 0 (7 ) 100 (41 ) 70 Ending balance $ 6,250 $ 761 $ 23 $ 314 $ 553 $ 16 $ 7,917 Nine Months Ended September 30, 2017 Beginning balance $ 6,185 $ 697 $ 51 $ 325 $ 504 $ 70 $ 7,832 Charge-offs 0 0 (26 ) 0 0 0 (26 ) Recoveries 0 0 5 1 0 0 6 (Reversal of) provision for loan losses 65 64 (7 ) (12 ) 49 (54 ) 105 Ending balance $ 6,250 $ 761 $ 23 $ 314 $ 553 $ 16 $ 7,917 (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 0 2 (Reversal of) provision for 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 T he following table details the allowance for loan losses and ending gross loan balances as of September 30, 2017, December 31, 2016 September 30, 2016 (in thousands) Commercial Commercial Consumer September 30, 2017 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 5,570 761 23 314 553 16 7,237 $ 6,250 $ 761 $ 23 $ 314 $ 553 $ 16 $ 7,917 Ending gross loan balances: Individually evaluated for impairment $ 993 $ 303 $ 0 $ 15 $ 0 $ 0 $ 1,311 Individually evaluated purchased credit impaired loans 33 0 0 0 0 0 33 Collectively evaluated for impairment 501,647 65,141 607 37,821 30,049 0 635,265 $ 502,673 $ 65,444 $ 607 $ 37,836 $ 30,049 $ 0 $ 636,609 December 31, 2016 Allowance for loan losses for loans: Individually evaluated for impairment $ 680 $ 0 $ 0 $ 0 $ 0 $ 680 Collectively evaluated for impairment 5,505 697 51 325 504 70 7,152 $ 6,185 $ 697 $ 51 $ 325 $ 504 $ 70 $ 7,832 Ending gross loans balances: Individually evaluated for impairment $ 2,715 $ 306 $ 0 $ 16 $ 0 $ 0 $ 3,037 Individually evaluated purchased credit impaired loans 33 0 0 0 0 0 33 Collectively evaluated for impairment 476,107 63,895 767 38,656 28,454 0 607,879 $ 478,855 $ 64,201 $ 767 $ 38,672 $ 28,454 $ 0 $ 610,949 September 30, 2016 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 loans 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 Changes in the reserve for off-balance-sheet commitments were as follows: THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, 2017 2016 2017 2016 Balance, beginning of period $ 302 $ 257 $ 284 $ 238 Provision (Recovery) to Operations for Off Balance Sheet Commitments (4 ) 6 14 (25 ) Balance, end of period $ 298 $ 263 $ 298 $ 263 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 September 30, 2017 December 31, 2016, $636,609,000 $610,949,000, |
Note 5 - Other Real Estate Owne
Note 5 - Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | NOTE 5 – OTHER REAL ESTATE OWNED As of September 30, 2017 , the Company owned two $253 ,000, three $1,210,000 December 31, 2016. September 30, 2017 December 31, 2016, zero not nine September 30, 2017, one $211,000, no one three nine September 30, 2016 $253,000 one nine September 30, 2016 two $88,000. 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 |
Note 6 - Other Post-retirement
Note 6 - Other Post-retirement Benefit Plans | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 6 – OTHER POST-RETIREMENT BENEFIT PLANS During January 2008, ten twenty In August 2001, two January 2008 , to three March 2014, 2016 . Under the DRP, the participants will be provided with a fixed annual retirement benefit for ten Future co mpensation 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 September 30, 2017 December 31, 2016 $2,960 ,000 $2,762,000, During January 2008, $4.7 March 2014, $1.0 three September 2016, $4.0 The combined cash surrender value of all Bank-owned life insu rance policies recorded in interest receivable and other assets on the condensed consolidated balance sheets were $18,389 ,000 $18,004,000 September 30, 2017 December 31, 2016, |
Note 7 - Financial Instruments
Note 7 - Financial Instruments and Fair Value Measurements | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | NOTE 7 — FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Fair values of financial instruments — The consolidated financial statements include various estimated fair value information as of September 30, 2017 December 31, 2016. not Fair value measurements defines fair value, establishes a framework for measuring fair value, establishes a three 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 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 vels 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 nine September 30, 2017 2016. Following is a description of valuation methodologies used for assets and liabilities in the tables below: Cash and cash equivalents – 1 Restricted Equity Securities- 2 Loans receivable — For variable-rate loans that reprice frequently and have no 3 Deposit liabilities — The fair values estimated for demand deposits (interest and non-interest checking, savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e. their carrying amounts). The carrying amounts for variable-rate, fixed-term money market accounts and certificates of deposit approximate their fair values at the reporting date. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of the aggregate expected monthly maturities on time deposits. The fair value of deposits is determined by the Company’s internal assets and liabilities modeling system that accounts for various inputs such as decay rates, rate floors, FHLB yield curve, maturities and current rates offered on new accounts. Fair value on deposits is considered a level 3 Interest receivable and payable - The carrying amounts of accrued interest approximate their fair value and are considered to be a level 2 Off-balance-sheet instruments — Fair values for the Bank’s off-balance-sheet lending commitments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the credit standing of the counterparties. The Company considers the Bank’s off balance sheet instruments to be a level 3 . The estimated fair values of the Company ’s financial instruments not September 30, 2017 Hierarchy (in thousands) Carrying Fair Valuation Amount Value Level Financial assets: Cash and cash equivalents $ 139,628 $ 139,628 1 Restricted equity securities 4,135 4,135 2 Loans, net 626,911 633,841 3 Interest receivable 2,730 2,730 2 Financial liabilities: Deposits (901,716 ) (802,610 ) 3 Interest payable (33 ) (33 ) 2 Off-balance-sheet assets (liabilities): Commitments and standby letters of credit (1,165 ) 3 The estimated fair values of the Company ’s financial instruments not December 31, 2016 Hierarchy (in thousands) Carrying Fair Valuation Amount Value Level Financial assets: Cash and cash equivalents $ 190,810 $ 190,810 1 Restricted equity securities 3,795 3,795 2 Loans, net 601,104 611,553 3 Interest receivable 2,831 2,831 2 Financial liabilities: Deposits (914,093 ) (811,519 ) 3 Interest payable (45 ) (45 ) 2 Off-balance-sheet assets (liabilities): Commitments and standby letters of credit (1,107 ) 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, 2017 December 31, 2016 . Fair Value Measurements at September 30, 2017 Using (in thousands) September 30, 2017 Quoted Prices Significant Other Significant Unobservable Assets and liabilities measured on a recurring basis: Available-for-sale securities: U.S. agencies $ 27,209 $ 0 $ 27,209 $ 0 Collateralized mortgage obligations 3,940 0 3,940 0 Municipalities 90,600 0 90,600 0 SBA p ools 12,407 0 12,407 0 Corporate d ebt 18,732 0 18,732 0 Asset backed securities 24,853 0 24,853 0 Mutual fund 3,116 3,116 0 0 Assets and liabilities measured on a non-recurring basis: Impaired loans: Land $ 313 $ 0 $ 0 $ 313 Commercial and industrial 302 0 0 302 Other real estate owned 253 0 0 253 Fair Value Measurements at December 31, 2016 Using (in thousands) December 31, Quoted Prices Significant Other Significant Unobservable Assets and liabilities measured on a recurring basis: Available-for-sale securities U.S. agencies $ 28,286 $ 0 $ 28,286 $ 0 Collateralized mortgage obligations 4,109 0 4,109 0 Municipalities 78,329 0 78,329 0 SBA pools 7,168 0 7,168 0 Corporate debt 20,563 0 20,563 0 Asset backed securities 18,819 0 18,819 0 Mutual fund 3,059 3,059 0 0 Assets and liabilities measured on a non-recurring basis: Impaired loans: Land $ 1,746 $ 0 $ 0 $ 1,746 Commercial and industrial 302 0 0 302 Other real estate owned $ 1,210 $ 0 $ 0 $ 1,210 Following is a description of valuation methodologies used for assets and liabilities recorded at fair value. Available-for-sale securities - not 1 2 3 Impaired loans - ASC Topic 820 310, Accounting by Creditors for Impairment of a Loan not not 3. not no 3. Other Real Estate Owned - Other real estate assets (“OREO”) acquired through, or in lieu of, foreclosure are held-for-sale and are initially recorded at the lower of cost or fair value, less selling costs. Any write-downs to fair value at the time of transfer to OREO are charged to the allowance for loan losses, subsequent to foreclosure. Appraisals or evaluations are then done periodically thereafter charging any additional write-downs or valuation allowances to the appropriate expense accounts. Values are derived from appraisals of underlying collateral and discounted cash flow analysis. OREO is classified within Level 3 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 6% may No three September 30, 2017. There have been no September 30, 2017. |
Note 8 - Earnings Per Share
Note 8 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 8 – 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 average basic shares, ( 2 3 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 two not The Company ’s calculation of basic and diluted earnings per share (“EPS”) for the three nine September 30, 2017 2016 THREE MONTHS ENDED (In thousands) SEPTEMBER 30, 2017 2016 BASIC EARNINGS PER SHARE Net income $ 2,468 $ 1,930 Weighted average shares outstanding 8,065 8,031 Net income per common share $ 0.31 $ 0.24 DILUTED EARNINGS PER SHARE Net income $ 2,468 $ 1,930 Weighted average shares outstanding 8,065 8,031 Effect of dilutive stock options 5 1 Effect of dilutive non-vested restricted shares 13 31 Weighted average shares of common stock and common stock equivalents 8,083 8,063 Net income per diluted common share $ 0.31 $ 0.24 NINE MONTHS ENDED (In thousands) SEPTEMBER 30, 2017 2016 BASIC EARNINGS PER SHARE Net income $ 7,505 $ 5,343 Weighted average shares outstanding 8,056 8,023 Net income per common share $ 0.93 $ 0.67 DILUTED EARNINGS PER SHARE Net income $ 7,505 $ 5,343 Weighted average shares outstanding 8,056 8,023 Effect of dilutive stock options 18 35 Effect of dilutive non-vested restricted shares 4 1 Weighted average shares of common stock and common stock equivalents 8,078 8,059 Net income per diluted common share $ 0.93 $ 0.66 During the three and nine September 30, 2017, no 12,261 22,446 three nine 2016, $9.95 $15. 00. not There were no stock grants for the three nine September 30, 2017 2016. |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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 $ 26,780 $ 513 $ (84 ) $ 27,209 Collateralized mortgage obligations 3,963 6 (29 ) 3,940 Municipalities 88,026 2,677 (103 ) 90,600 SBA pools 12,389 33 (15 ) 12,407 Corporate debt 19,356 98 (722 ) 18,732 Asset backed securities 24,727 137 (11 ) 24,853 Mutual fund 3,324 0 (208 ) 3,116 $ 178,565 $ 3,464 $ (1,172 ) $ 180,857 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 27,879 $ 616 $ (209 ) $ 28,286 Collateralized mortgage obligations 4,159 7 (57 ) 4,109 Municipalities 77,957 1,318 (946 ) 78,329 SBA pools 7,219 0 (51 ) 7,168 Corporate debt 21,349 81 (867 ) 20,563 Asset backed securities 18,888 32 (101 ) 18,819 Mutual fund 3,264 0 (205 ) 3,059 $ 160,715 $ 2,054 $ (2,436 ) $ 160,333 |
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 $ 6,464 (72 ) $ 1,841 $ (12 ) $ 8,305 $ (84 ) Collateralized mortgage obligations 1,122 (10 ) 968 (19 ) 2,090 (29 ) Municipalities 10,158 (58 ) 2,879 (45 ) 13,037 (103 ) SBA pools 3,812 (8 ) 716 (7 ) 4,528 (15 ) Corporate debt 1,984 (16 ) 13,785 (706 ) 15,769 (722 ) Asset backed securities 6,219 (9 ) 347 (2 ) 6,566 (11 ) Mutual fund 0 0 3,116 (208 ) 3,116 (208 ) Total temporarily impaired securities $ 29,759 $ (173 ) $ 23,652 $ (999 ) $ 53,411 $ (1,172 ) (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 $ 8,769 $ (208 ) $ 718 $ (1 ) $ 9,487 $ (209 ) Collateralized mortgage obligations 3,166 (57 ) 0 0 3,166 (57 ) Municipalities 45,137 (917 ) 402 (29 ) 45,539 (946 ) SBA pools 6,415 (46 ) 753 (5 ) 7,168 (51 ) Corporate debt 12,776 (757 ) 2,884 (110 ) 15,660 (867 ) Asset backed securities 2,576 (15 ) 8,272 (86 ) 10,848 (101 ) Mutual fund 0 0 3,059 (205 ) 3,059 (205 ) Total temporarily impaired securities $ 78,839 $ (2,000 ) $ 16,088 $ (436 ) $ 94,927 $ (2,436 ) |
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 $ 12,724 $ 12,981 Due after one year through five years 57,326 57,740 Due after five years through ten years 56,841 58,143 Due after ten years 51,674 51,993 $ 178,565 $ 180,857 |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2017 December 31, 2016 Commercial real estate: Commercial real estate- construction $ 20,254 $ 23,378 Commercial real estate- mortgages 417,253 389,495 Land 8,496 9,823 Farmland 56,670 56,159 Commercial and industrial 65,444 64,201 Consumer 607 767 Consumer residential 37,836 38,672 Agriculture 30,049 28,454 636,609 610,949 Deferred loan fees and costs, net (1,781 ) (2,013 ) Allowance for loan losses (7,917 ) (7,832 ) $ 626,911 $ 601,104 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (in thousands) September 30, 2017 December 31, 2016 Commercial real estate: Commercial real estate- construction $ 0 $ 0 Commercial real estate- mortgages 0 0 Land 993 2,715 Farmland 0 0 Commercial and industrial 302 306 Consumer 0 0 Consumer residential 16 16 Agriculture 0 0 Total non-accrual loans $ 1,311 $ 3,037 |
Past Due Financing Receivables [Table Text Block] | September 30, 2017 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 $ 20,254 $ 0 $ 20,254 $ 0 Commercial R.E. - mortgages 25 0 0 25 417,228 0 417,253 0 Land 0 0 993 993 7,470 33 8,496 0 Farmland 0 0 0 0 56,670 0 56,670 0 Commercial and industrial 0 0 302 302 65,142 0 65,444 0 Consumer 0 0 0 0 607 0 607 0 Consumer residential 0 0 0 0 37,836 0 37,836 0 Agriculture 0 0 0 0 30,049 0 30,049 0 Total $ 25 $ 0 $ 1,295 $ 1,320 $ 635,256 $ 33 $ 636,609 $ 0 December 31, 2016 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Purchased Credit Impaired Loans Total Greater Than 90 Days Past Due and Still Accruing Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 23,378 $ 0 23,378 $ 0 Commercial R.E. - mortgages 0 0 0 0 389,495 0 389,495 0 Land 0 0 2,715 2,715 7,075 33 9,823 0 Farmland 0 0 0 0 56,159 0 56,159 0 Commercial and industrial 0 0 302 302 63,899 0 64,201 0 Consumer 0 0 0 0 767 0 767 0 Consumer residential 0 0 16 16 38,656 0 38,672 0 Agriculture 0 0 0 0 28,454 0 28,454 0 Total $ 0 $ 0 $ 3,033 $ 3,033 $ 607,883 $ 33 610,949 $ 0 |
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, 2017 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 1,309 0 993 993 680 Farmland 0 0 0 0 0 Commercial and Industrial 351 302 0 302 0 Consumer 0 0 0 0 0 Consumer residential 16 16 0 16 0 Agriculture 0 0 0 0 0 Total $ 1,676 $ 318 $ 993 $ 1,311 $ 680 (in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance December 31, 2016 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 3,131 0 2,715 2,715 680 Farmland 0 0 0 0 0 Commercial and Industrial 353 306 0 306 0 Consumer 0 0 0 0 0 Consumer residential 16 16 0 16 0 Agriculture 0 0 0 0 0 Total $ 3,500 $ 322 $ 2,715 $ 3,037 $ 680 Average Recorded Investment for the Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended (in thousands) September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 Land 1,518 2,324 2,018 2,439 Farmland 0 0 0 0 Commercial and Industrial 302 312 304 316 Consumer 0 0 0 0 Consumer residential 75 0 96 0 Agriculture 0 0 0 0 Total $ 1,895 $ 2,636 $ 2,418 $ 2,755 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (in thousands) Commercial R.E. Construction Commercial R.E. Mortgages Land (1) Farmland Commercial and Industrial Consumer Consumer Residential Agriculture Total September 30, 2017 Pass $ 20,254 $ 416,289 $ 7,041 $ 56,670 $ 60,335 $ 579 $ 37,773 $ 30,049 $ 628,990 Special mention - 258 - - 3,920 - - - 4,178 Substandard - 706 1,175 - 1,189 28 63 - 3,161 Doubtful - - 280 - - - - - 280 Total loans $ 20,254 $ 417,253 $ 8,496 $ 56,670 $ 65,444 $ 607 $ 37,836 $ 30,049 $ 636,609 December 31, 2016 Pass $ 22,560 $ 388,365 $ 6,637 $ 56,159 $ 62,770 $ 738 $ 38,300 $ 28,454 $ 603,983 Special mention 818 1,063 - - 189 - - - 2,070 Substandard - 67 2,906 1,242 29 372 - 4,616 Doubtful - - 280 - - - - - 280 Total loans $ 23,378 $ 389,495 $ 9,823 $ 56,159 $ 64,201 $ 767 $ 38,672 $ 28,454 $ 610,949 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (in thousands) Commercial Commercial Consumer Three Months Ended September 30, 2017 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 6,247 $ 746 $ 30 $ 321 $ 453 $ 57 $ 7,854 Charge-offs 0 0 (9 ) 0 0 0 (9 ) Recoveries 0 0 2 0 0 0 2 (Reversal of) provision for loan losses 3 15 0 (7 ) 100 (41 ) 70 Ending balance $ 6,250 $ 761 $ 23 $ 314 $ 553 $ 16 $ 7,917 Nine Months Ended September 30, 2017 Beginning balance $ 6,185 $ 697 $ 51 $ 325 $ 504 $ 70 $ 7,832 Charge-offs 0 0 (26 ) 0 0 0 (26 ) Recoveries 0 0 5 1 0 0 6 (Reversal of) provision for loan losses 65 64 (7 ) (12 ) 49 (54 ) 105 Ending balance $ 6,250 $ 761 $ 23 $ 314 $ 553 $ 16 $ 7,917 (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 0 2 (Reversal of) provision for 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 September 30, 2017 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 5,570 761 23 314 553 16 7,237 $ 6,250 $ 761 $ 23 $ 314 $ 553 $ 16 $ 7,917 Ending gross loan balances: Individually evaluated for impairment $ 993 $ 303 $ 0 $ 15 $ 0 $ 0 $ 1,311 Individually evaluated purchased credit impaired loans 33 0 0 0 0 0 33 Collectively evaluated for impairment 501,647 65,141 607 37,821 30,049 0 635,265 $ 502,673 $ 65,444 $ 607 $ 37,836 $ 30,049 $ 0 $ 636,609 December 31, 2016 Allowance for loan losses for loans: Individually evaluated for impairment $ 680 $ 0 $ 0 $ 0 $ 0 $ 680 Collectively evaluated for impairment 5,505 697 51 325 504 70 7,152 $ 6,185 $ 697 $ 51 $ 325 $ 504 $ 70 $ 7,832 Ending gross loans balances: Individually evaluated for impairment $ 2,715 $ 306 $ 0 $ 16 $ 0 $ 0 $ 3,037 Individually evaluated purchased credit impaired loans 33 0 0 0 0 0 33 Collectively evaluated for impairment 476,107 63,895 767 38,656 28,454 0 607,879 $ 478,855 $ 64,201 $ 767 $ 38,672 $ 28,454 $ 0 $ 610,949 September 30, 2016 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 loans 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 |
Change in Allowance for Loan Losses [Table Text Block] | THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, 2017 2016 2017 2016 Balance, beginning of period $ 302 $ 257 $ 284 $ 238 Provision (Recovery) to Operations for Off Balance Sheet Commitments (4 ) 6 14 (25 ) Balance, end of period $ 298 $ 263 $ 298 $ 263 |
Weighted Average [Member] | |
Notes Tables | |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2017 December 31, 2016 Weighted Average Risk Grade Weighted Average Risk Grade Commercial real estate: Commercial real estate - construction 3.00 3.07 Commercial real estate - mortgages 3.07 3.08 Land 3.98 4.39 Farmland 3.22 3.09 Commercial and industrial 3.59 2.70 Consumer 2.15 2.28 Consumer residential 3.01 3.03 Agriculture 3.20 3.08 Total gross loans 3.15 3.06 |
Note 7 - Financial Instrument18
Note 7 - Financial Instruments and Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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 $ 139,628 $ 139,628 1 Restricted equity securities 4,135 4,135 2 Loans, net 626,911 633,841 3 Interest receivable 2,730 2,730 2 Financial liabilities: Deposits (901,716 ) (802,610 ) 3 Interest payable (33 ) (33 ) 2 Off-balance-sheet assets (liabilities): Commitments and standby letters of credit (1,165 ) 3 Hierarchy (in thousands) Carrying Fair Valuation Amount Value Level Financial assets: Cash and cash equivalents $ 190,810 $ 190,810 1 Restricted equity securities 3,795 3,795 2 Loans, net 601,104 611,553 3 Interest receivable 2,831 2,831 2 Financial liabilities: Deposits (914,093 ) (811,519 ) 3 Interest payable (45 ) (45 ) 2 Off-balance-sheet assets (liabilities): Commitments and standby letters of credit (1,107 ) 3 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair Value Measurements at September 30, 2017 Using (in thousands) September 30, 2017 Quoted Prices Significant Other Significant Unobservable Assets and liabilities measured on a recurring basis: Available-for-sale securities: U.S. agencies $ 27,209 $ 0 $ 27,209 $ 0 Collateralized mortgage obligations 3,940 0 3,940 0 Municipalities 90,600 0 90,600 0 SBA p ools 12,407 0 12,407 0 Corporate d ebt 18,732 0 18,732 0 Asset backed securities 24,853 0 24,853 0 Mutual fund 3,116 3,116 0 0 Assets and liabilities measured on a non-recurring basis: Impaired loans: Land $ 313 $ 0 $ 0 $ 313 Commercial and industrial 302 0 0 302 Other real estate owned 253 0 0 253 Fair Value Measurements at December 31, 2016 Using (in thousands) December 31, Quoted Prices Significant Other Significant Unobservable Assets and liabilities measured on a recurring basis: Available-for-sale securities U.S. agencies $ 28,286 $ 0 $ 28,286 $ 0 Collateralized mortgage obligations 4,109 0 4,109 0 Municipalities 78,329 0 78,329 0 SBA pools 7,168 0 7,168 0 Corporate debt 20,563 0 20,563 0 Asset backed securities 18,819 0 18,819 0 Mutual fund 3,059 3,059 0 0 Assets and liabilities measured on a non-recurring basis: Impaired loans: Land $ 1,746 $ 0 $ 0 $ 1,746 Commercial and industrial 302 0 0 302 Other real estate owned $ 1,210 $ 0 $ 0 $ 1,210 |
Note 8 - Earnings Per Share (Ta
Note 8 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | THREE MONTHS ENDED (In thousands) SEPTEMBER 30, 2017 2016 BASIC EARNINGS PER SHARE Net income $ 2,468 $ 1,930 Weighted average shares outstanding 8,065 8,031 Net income per common share $ 0.31 $ 0.24 DILUTED EARNINGS PER SHARE Net income $ 2,468 $ 1,930 Weighted average shares outstanding 8,065 8,031 Effect of dilutive stock options 5 1 Effect of dilutive non-vested restricted shares 13 31 Weighted average shares of common stock and common stock equivalents 8,083 8,063 Net income per diluted common share $ 0.31 $ 0.24 NINE MONTHS ENDED (In thousands) SEPTEMBER 30, 2017 2016 BASIC EARNINGS PER SHARE Net income $ 7,505 $ 5,343 Weighted average shares outstanding 8,056 8,023 Net income per common share $ 0.93 $ 0.67 DILUTED EARNINGS PER SHARE Net income $ 7,505 $ 5,343 Weighted average shares outstanding 8,056 8,023 Effect of dilutive stock options 18 35 Effect of dilutive non-vested restricted shares 4 1 Weighted average shares of common stock and common stock equivalents 8,078 8,059 Net income per diluted common share $ 0.93 $ 0.66 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) - USD ($) $ in Millions | Dec. 23, 2015 | Jul. 03, 2008 |
Conversion of Stock Shares Converted for Each Outstanding Share of Wholly Owned Subsidiary | 1 | |
Mother Lode Bank [Member] | ||
Payments to Acquire Businesses, Gross | $ 7.3 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Available-for-sale Securities, Gross Realized Gains | $ 4,000 | $ 10,000 | $ 394,000 | $ 29,000 | |
Proceeds from Sale of Available-for-sale Securities | 0 | $ 0 | |||
Security Owned and Pledged as Collateral, Fair Value | $ 93,594,000 | $ 93,594,000 | $ 89,362,000 | ||
Corporate Debt Securities [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 10 | 10 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 1 | 1 | |||
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 | 4 | 4 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 12 | 12 | |||
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 | 2 | 2 | |||
US Government Agencies 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 | 5 | 5 | |||
Collateralized Mortgage Obligations [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 | 1 | 1 | |||
Asset-backed 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 | 4 | 4 | |||
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 |
Note 3 - Securities - Amortized
Note 3 - Securities - Amortized Cost and Estimated Fair Values of Debt Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Available-for-sale securities, amortized cost | $ 178,565 | $ 160,715 |
Available-for-sale securities, gross unrealized gains | 3,464 | 2,054 |
Available-for-sale securities, gross unrealized losses | (1,172) | (2,436) |
Available-for-sale securities, fair market value | 180,857 | 160,333 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 26,780 | 27,879 |
Available-for-sale securities, gross unrealized gains | 513 | 616 |
Available-for-sale securities, gross unrealized losses | (84) | (209) |
Available-for-sale securities, fair market value | 27,209 | 28,286 |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, amortized cost | 3,963 | 4,159 |
Available-for-sale securities, gross unrealized gains | 6 | 7 |
Available-for-sale securities, gross unrealized losses | (29) | (57) |
Available-for-sale securities, fair market value | 3,940 | 4,109 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 88,026 | 77,957 |
Available-for-sale securities, gross unrealized gains | 2,677 | 1,318 |
Available-for-sale securities, gross unrealized losses | (103) | (946) |
Available-for-sale securities, fair market value | 90,600 | 78,329 |
SBA Pool [Member] | ||
Available-for-sale securities, amortized cost | 12,389 | 7,219 |
Available-for-sale securities, gross unrealized gains | 33 | 0 |
Available-for-sale securities, gross unrealized losses | (15) | (51) |
Available-for-sale securities, fair market value | 12,407 | 7,168 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 19,356 | 21,349 |
Available-for-sale securities, gross unrealized gains | 98 | 81 |
Available-for-sale securities, gross unrealized losses | (722) | (867) |
Available-for-sale securities, fair market value | 18,732 | 20,563 |
Asset-backed Securities [Member] | ||
Available-for-sale securities, amortized cost | 24,727 | 18,888 |
Available-for-sale securities, gross unrealized gains | 137 | 32 |
Available-for-sale securities, gross unrealized losses | (11) | (101) |
Available-for-sale securities, fair market value | 24,853 | 18,819 |
Mutual Fund [Member] | ||
Available-for-sale securities, amortized cost | 3,324 | 3,264 |
Available-for-sale securities, gross unrealized gains | 0 | 0 |
Available-for-sale securities, gross unrealized losses | (208) | (205) |
Available-for-sale securities, fair market value | $ 3,116 | $ 3,059 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities in a Continuous Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Less than 12 months, fair value | $ 29,759 | $ 78,839 |
Less than 12 months, unrealized loss | (173) | (2,000) |
12 months or more, fair value | 23,652 | 16,088 |
12 months or more, unrealized loss | (999) | (436) |
Fair value | 53,411 | 94,927 |
Unrealized loss | (1,172) | (2,436) |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, fair value | 6,464 | 8,769 |
Less than 12 months, unrealized loss | (72) | (208) |
12 months or more, fair value | 1,841 | 718 |
12 months or more, unrealized loss | (12) | (1) |
Fair value | 8,305 | 9,487 |
Unrealized loss | (84) | (209) |
Collateralized Mortgage Obligations [Member] | ||
Less than 12 months, fair value | 1,122 | 3,166 |
Less than 12 months, unrealized loss | (10) | (57) |
12 months or more, fair value | 968 | 0 |
12 months or more, unrealized loss | (19) | 0 |
Fair value | 2,090 | 3,166 |
Unrealized loss | (29) | (57) |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, fair value | 10,158 | 45,137 |
Less than 12 months, unrealized loss | (58) | (917) |
12 months or more, fair value | 2,879 | 402 |
12 months or more, unrealized loss | (45) | (29) |
Fair value | 13,037 | 45,539 |
Unrealized loss | (103) | (946) |
SBA Pool [Member] | ||
Less than 12 months, fair value | 3,812 | 6,415 |
Less than 12 months, unrealized loss | (8) | (46) |
12 months or more, fair value | 716 | 753 |
12 months or more, unrealized loss | (7) | (5) |
Fair value | 4,528 | 7,168 |
Unrealized loss | (15) | (51) |
Corporate Debt Securities [Member] | ||
Less than 12 months, fair value | 1,984 | 12,776 |
Less than 12 months, unrealized loss | (16) | (757) |
12 months or more, fair value | 13,785 | 2,884 |
12 months or more, unrealized loss | (706) | (110) |
Fair value | 15,769 | 15,660 |
Unrealized loss | (722) | (867) |
Asset-backed Securities [Member] | ||
Less than 12 months, fair value | 6,219 | 2,576 |
Less than 12 months, unrealized loss | (9) | (15) |
12 months or more, fair value | 347 | 8,272 |
12 months or more, unrealized loss | (2) | (86) |
Fair value | 6,566 | 10,848 |
Unrealized loss | (11) | (101) |
Mutual Fund [Member] | ||
Less than 12 months, fair value | 0 | 0 |
Less than 12 months, unrealized loss | 0 | 0 |
12 months or more, fair value | 3,116 | 3,059 |
12 months or more, unrealized loss | (208) | (205) |
Fair value | 3,116 | 3,059 |
Unrealized loss | $ (208) | $ (205) |
Note 3 - Securities - Contractu
Note 3 - Securities - Contractual Maturity or Call Date (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Due in one year or less, amortized cost | $ 12,724 | |
Due in one year or less, fair value | 12,981 | |
Due after one year through five years, amortized cost | 57,326 | |
Due after one year through five years, fair value | 57,740 | |
Due after five years through ten years, amortized cost | 56,841 | |
Due after five years through ten years, fair value | 58,143 | |
Due after ten years, amortized cost | 51,674 | |
Due after ten years, fair value | 51,993 | |
Amortized cost | 178,565 | $ 160,715 |
Fair Value | $ 180,857 |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Loans and Leases Receivable, Percentage of Outstanding Principal Balance Secured by Owner Occupied Properties | 42.30% | 42.30% | 40.90% | ||
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% | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 27,000 | $ 38,000 | $ 95,000 | $ 118,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | $ 0 | $ 0 | $ 0 | $ 0 | |
Financing Receivable, Modifications, Number of Contracts Held | 5 | 5 | 6 | ||
Financing Receivable, Modifications, Recorded Investment | $ 1,311,000 | $ 1,311,000 | $ 3,037,000 | ||
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 | 680,000 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 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 years | ||||
Loans and Leases Receivable, Minimum Cash Collateral Percent | 110.00% | 110.00% | |||
Loans and Leases Receivable, Gross | $ 636,609,000 | $ 602,569,000 | $ 636,609,000 | $ 602,569,000 | 610,949,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 636,609,000 | 636,609,000 | 610,949,000 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans and Leases Receivable, Gross | 33,000 | $ 33,000 | 33,000 | ||
Substandard [Member] | |||||
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category | 40.00% | ||||
Loans and Leases Receivable, Gross | 3,161,000 | $ 3,161,000 | 4,616,000 | ||
Doubtful [Member] | |||||
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category | 25.00% | ||||
Loans and Leases Receivable, Gross | 280,000 | $ 280,000 | 280,000 | ||
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 | ||
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% | ||||
Extended Maturity [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 292,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | |||||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 79.00% | 79.00% | |||
Loans and Leases Receivable, Gross | $ 502,673,000 | 469,237,000 | $ 502,673,000 | 469,237,000 | 478,855,000 |
Commercial Portfolio Segment [Member] | |||||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 10.00% | 10.00% | |||
Loans and Leases Receivable, Gross | $ 65,444,000 | 68,073,000 | $ 65,444,000 | 68,073,000 | 64,201,000 |
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans and Leases Receivable, Gross | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Substandard [Member] | |||||
Loans and Leases Receivable, Gross | 1,189,000 | 1,189,000 | 1,242,000 | ||
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||||
Loans and Leases Receivable, Gross | |||||
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] | |||||
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans | 5.00% | 5.00% | |||
Loans and Leases Receivable, Gross | $ 30,049,000 | $ 27,767,000 | $ 30,049,000 | $ 27,767,000 | 28,454,000 |
Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans and Leases Receivable, Gross | 0 | 0 | 0 | ||
Agriculture [Member] | Substandard [Member] | |||||
Loans and Leases Receivable, Gross | |||||
Agriculture [Member] | Doubtful [Member] | |||||
Loans and Leases Receivable, Gross |
Note 4 - Loans - Loans (Details
Note 4 - Loans - Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Loans | $ 636,609 | $ 610,949 | $ 602,569 | ||||
Deferred loan fees and costs, net | (1,781) | (2,013) | |||||
Allowance for loan losses | (7,917) | $ (7,854) | (7,832) | (7,767) | $ (7,680) | $ (7,356) | |
626,911 | 601,104 | ||||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Loans | 502,673 | 478,855 | 469,237 | ||||
Allowance for loan losses | (6,250) | (6,247) | (6,185) | (6,071) | (6,133) | (5,920) | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||||
Loans | 20,254 | 23,378 | |||||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||||||
Loans | 417,253 | 389,495 | |||||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||||||
Loans | [1] | 8,496 | 9,823 | ||||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||||||
Loans | 56,670 | 56,159 | |||||
Commercial Portfolio Segment [Member] | |||||||
Loans | 65,444 | 64,201 | 68,073 | ||||
Allowance for loan losses | (761) | (746) | (697) | (731) | (671) | (627) | |
Consumer Portfolio Segment [Member] | |||||||
Loans | 607 | 767 | 736 | ||||
Allowance for loan losses | (23) | (30) | (51) | (48) | (55) | (38) | |
Residential Portfolio Segment [Member] | |||||||
Loans | 37,836 | 38,672 | 36,756 | ||||
Allowance for loan losses | (314) | (321) | (325) | (379) | (387) | (426) | |
Agriculture [Member] | |||||||
Loans | 30,049 | 28,454 | 27,767 | ||||
Allowance for loan losses | $ (553) | $ (453) | $ (504) | $ (494) | $ (431) | $ (309) | |
[1] | Included in the above table is Purchased Credit Impaired loans recorded at their fair value of $33,000 as of September 30, 2017 and December 31, 2016, which were acquired in the MLB Acquisition. |
Note 4 - Loans - Non Accrual Lo
Note 4 - Loans - Non Accrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Non-accrual loans | $ 1,311 | $ 3,037 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Non-accrual loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||
Non-accrual loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Non-accrual loans | 993 | 2,715 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Non-accrual loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Non-accrual loans | 302 | 306 |
Consumer Portfolio Segment [Member] | ||
Non-accrual loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Non-accrual loans | 16 | 16 |
Agriculture [Member] | ||
Non-accrual loans | $ 0 | $ 0 |
Note 4 - Loans - Aging of Past
Note 4 - Loans - Aging of Past Due Loans (Details) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Past due | $ 1,320,000 | $ 3,033,000 | ||
Current | 635,256,000 | 607,883,000 | ||
Loans | 636,609,000 | 610,949,000 | $ 602,569,000 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Loans | 33,000 | 33,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past due | 25,000 | 0 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past due | 0 | 0 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||||
Past due | 1,295,000 | 3,033,000 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans | 502,673,000 | 478,855,000 | 469,237,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Past due | 0 | 0 | ||
Current | 20,254,000 | 23,378,000 | ||
Loans | 20,254,000 | 23,378,000 | ||
Greater than 90 days past due and still accruing | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Loans | 0 | 0 | ||
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] | Mortgage Loans [Member] | ||||
Past due | 25,000 | 0 | ||
Current | 417,228,000 | 389,495,000 | ||
Loans | 417,253,000 | 389,495,000 | ||
Greater than 90 days past due and still accruing | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past due | 25,000 | 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] | Land Loans [Member] | ||||
Past due | 993,000 | 2,715,000 | ||
Current | 7,470,000 | 7,075,000 | ||
Loans | [1] | 8,496,000 | 9,823,000 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Loans | 33,000 | 33,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past due | 0 | 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 | 993,000 | 2,715,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||
Past due | 0 | 0 | ||
Current | 56,670,000 | 56,159,000 | ||
Loans | 56,670,000 | 56,159,000 | ||
Greater than 90 days past due and still accruing | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past due | 0 | 0 | ||
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 | 0 | ||
Commercial Portfolio Segment [Member] | ||||
Past due | 302,000 | 302,000 | ||
Current | 65,142,000 | 63,899,000 | ||
Loans | 65,444,000 | 64,201,000 | 68,073,000 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Loans | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past due | 0 | 0 | ||
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 | 302,000 | 302,000 | ||
Consumer Portfolio Segment [Member] | ||||
Past due | 0 | 0 | ||
Current | 607,000 | 767,000 | ||
Loans | 607,000 | 767,000 | 736,000 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Loans | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past due | 0 | 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 | ||
Residential Portfolio Segment [Member] | ||||
Past due | 0 | 16,000 | ||
Current | 37,836,000 | 38,656,000 | ||
Loans | 37,836,000 | 38,672,000 | 36,756,000 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Residential Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Loans | 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 | 16,000 | ||
Agriculture [Member] | ||||
Past due | 0 | 0 | ||
Current | 30,049,000 | 28,454,000 | ||
Loans | 30,049,000 | 28,454,000 | $ 27,767,000 | |
Greater than 90 days past due and still accruing | 0 | 0 | ||
Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Loans | 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 | 0 | ||
Agriculture [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||||
Past due | $ 0 | $ 0 | ||
[1] | Included in the above table is Purchased Credit Impaired loans recorded at their fair value of $33,000 as of September 30, 2017 and December 31, 2016, which were acquired in the MLB Acquisition. |
Note 4 - Loans - Impaired Loans
Note 4 - Loans - Impaired Loans (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Unpaid contractual principal | $ 1,676,000 | $ 1,676,000 | $ 3,500,000 | ||
Recorded investment with no allowance | 318,000 | 318,000 | 322,000 | ||
Recorded investment with allowance | 993,000 | 993,000 | 2,715,000 | ||
Total recorded investment | 1,311,000 | 1,311,000 | 3,037,000 | ||
Related allowance | 680,000 | 680,000 | 680,000 | ||
Average recorded investment | 1,895 | $ 2,636 | 2,418 | $ 2,755 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Unpaid contractual principal | 0 | 0 | 0 | ||
Recorded investment with no allowance | 0 | 0 | 0 | ||
Recorded investment with allowance | 0 | 0 | 0 | ||
Total recorded investment | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 0 | 0 | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | |||||
Unpaid contractual principal | 0 | 0 | 0 | ||
Recorded investment with no allowance | 0 | 0 | 0 | ||
Recorded investment with allowance | 0 | 0 | 0 | ||
Total recorded investment | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 0 | 0 | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | |||||
Unpaid contractual principal | 1,309,000 | 1,309,000 | 3,131,000 | ||
Recorded investment with no allowance | 0 | 0 | 0 | ||
Recorded investment with allowance | 993,000 | 993,000 | 2,715,000 | ||
Total recorded investment | 993,000 | 993,000 | 2,715,000 | ||
Related allowance | 680,000 | 680,000 | 680,000 | ||
Average recorded investment | 1,518 | 2,324 | 2,018 | 2,439 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||||
Unpaid contractual principal | 0 | 0 | 0 | ||
Recorded investment with no allowance | 0 | 0 | 0 | ||
Recorded investment with allowance | 0 | 0 | 0 | ||
Total recorded investment | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 0 | 0 | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||||
Unpaid contractual principal | 351,000 | 351,000 | 353,000 | ||
Recorded investment with no allowance | 302,000 | 302,000 | 306,000 | ||
Recorded investment with allowance | 0 | 0 | 0 | ||
Total recorded investment | 302,000 | 302,000 | 306,000 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 302 | 312 | 304 | 316 | |
Consumer Portfolio Segment [Member] | |||||
Unpaid contractual principal | 0 | 0 | 0 | ||
Recorded investment with no allowance | 0 | 0 | 0 | ||
Recorded investment with allowance | 0 | 0 | 0 | ||
Total recorded investment | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 0 | 0 | 0 | 0 | |
Residential Portfolio Segment [Member] | |||||
Unpaid contractual principal | 16,000 | 16,000 | 16,000 | ||
Recorded investment with no allowance | 16,000 | 16,000 | 16,000 | ||
Recorded investment with allowance | 0 | 0 | 0 | ||
Total recorded investment | 16,000 | 16,000 | 16,000 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 75 | 0 | 96 | 0 | |
Agriculture [Member] | |||||
Unpaid contractual principal | 0 | 0 | 0 | ||
Recorded investment with no allowance | 0 | 0 | 0 | ||
Recorded investment with allowance | 0 | 0 | 0 | ||
Total recorded investment | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | $ 0 | ||
Average recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Note 4 - Loans - Weighted Avera
Note 4 - Loans - Weighted Average Risk Grades of Loan Portfolio (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Weighted average risk grade of loans | 3.15 | 3.06 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Weighted average risk grade of loans | 3 | 3.07 |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||
Weighted average risk grade of loans | 3.07 | 3.08 |
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Weighted average risk grade of loans | 3.98 | 4.39 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Weighted average risk grade of loans | 3.22 | 3.09 |
Commercial Portfolio Segment [Member] | ||
Weighted average risk grade of loans | 3.59 | 2.7 |
Consumer Portfolio Segment [Member] | ||
Weighted average risk grade of loans | 2.15 | 2.28 |
Residential Portfolio Segment [Member] | ||
Weighted average risk grade of loans | 3.01 | 3.03 |
Agriculture [Member] | ||
Weighted average risk grade of loans | 3.2 | 3.08 |
Note 4 - Loans - Loans by Credi
Note 4 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Loans | $ 636,609 | $ 610,949 | $ 602,569 | |
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans | 502,673 | 478,855 | 469,237 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans | 20,254 | 23,378 | ||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||||
Loans | 417,253 | 389,495 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||||
Loans | [1] | 8,496 | 9,823 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||
Loans | 56,670 | 56,159 | ||
Commercial Portfolio Segment [Member] | ||||
Loans | 65,444 | 64,201 | 68,073 | |
Consumer Portfolio Segment [Member] | ||||
Loans | 607 | 767 | 736 | |
Residential Portfolio Segment [Member] | ||||
Loans | 37,836 | 38,672 | 36,756 | |
Agriculture [Member] | ||||
Loans | 30,049 | 28,454 | $ 27,767 | |
Pass [Member] | ||||
Loans | 628,990 | 603,983 | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans | 20,254 | 22,560 | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||||
Loans | 416,289 | 388,365 | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||||
Loans | [1] | 7,041 | 6,637 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||
Loans | 56,670 | 56,159 | ||
Pass [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 60,335 | 62,770 | ||
Pass [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | 579 | 738 | ||
Pass [Member] | Residential Portfolio Segment [Member] | ||||
Loans | 37,773 | 38,300 | ||
Pass [Member] | Agriculture [Member] | ||||
Loans | 30,049 | 28,454 | ||
Special Mention [Member] | ||||
Loans | 4,178 | 2,070 | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans | 818 | |||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||||
Loans | 258 | 1,063 | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||||
Loans | [1] | |||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||
Loans | ||||
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 3,920 | 189 | ||
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | ||||
Special Mention [Member] | Residential Portfolio Segment [Member] | ||||
Loans | ||||
Special Mention [Member] | Agriculture [Member] | ||||
Loans | ||||
Substandard [Member] | ||||
Loans | 3,161 | 4,616 | ||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans | ||||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | ||||
Loans | 706 | 67 | ||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||||
Loans | [1] | 1,175 | 2,906 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||
Loans | ||||
Substandard [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 1,189 | 1,242 | ||
Substandard [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | 28 | 29 | ||
Substandard [Member] | Residential Portfolio Segment [Member] | ||||
Loans | 63 | 372 | ||
Substandard [Member] | Agriculture [Member] | ||||
Loans | ||||
Doubtful [Member] | ||||
Loans | 280 | 280 | ||
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 | [1] | 280 | 280 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||
Loans | ||||
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | ||||
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | ||||
Doubtful [Member] | Residential Portfolio Segment [Member] | ||||
Loans | ||||
Doubtful [Member] | Agriculture [Member] | ||||
Loans | ||||
[1] | Included in the above table is Purchased Credit Impaired loans recorded at their fair value of $33,000 as of September 30, 2017 and December 31, 2016, which were acquired in the MLB Acquisition. |
Note 4 - Loans - Allowance for
Note 4 - Loans - Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Beginning balance | $ 7,854,000 | $ 7,680,000 | $ 7,832,000 | $ 7,356,000 | |||
Charge-offs | (9,000) | (5,000) | (26,000) | (12,000) | |||
Recoveries | 2,000 | 2,000 | 6,000 | 8,000 | |||
Provision for loan losses | 70,000 | 90,000 | 105,000 | 415,000 | |||
Ending balance | 7,917,000 | 7,767,000 | 7,917,000 | 7,767,000 | |||
Individually evaluated for impairment | $ 680,000 | $ 680,000 | $ 680,000 | ||||
Collectively evaluated for impairment | 7,237,000 | 7,152,000 | 7,087,000 | ||||
7,917,000 | 7,680,000 | 7,917,000 | 7,767,000 | 7,917,000 | 7,832,000 | 7,767,000 | |
Individually evaluated for impairment | 1,311,000 | 3,037,000 | 2,614,000 | ||||
Collectively evaluated for impairment | 635,265,000 | 607,879,000 | 599,423,000 | ||||
636,609,000 | 610,949,000 | 602,569,000 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 33,000 | 33,000 | 532,000 | ||||
33,000 | 33,000 | ||||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Beginning balance | 6,247,000 | 6,133,000 | 6,185,000 | 5,920,000 | |||
Charge-offs | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | 0 | 3,000 | |||
Provision for loan losses | 3,000 | (62,000) | 65,000 | 148,000 | |||
Ending balance | 6,250,000 | 6,071,000 | 6,250,000 | 6,071,000 | |||
Individually evaluated for impairment | 680,000 | 680,000 | 680,000 | ||||
Collectively evaluated for impairment | 5,570,000 | 5,505,000 | 5,391,000 | ||||
6,247,000 | 6,133,000 | 6,250,000 | 6,071,000 | 6,250,000 | 6,185,000 | 6,071,000 | |
Individually evaluated for impairment | 993,000 | 2,715,000 | 2,305,000 | ||||
Collectively evaluated for impairment | 501,647,000 | 476,107,000 | 466,899,000 | ||||
502,673,000 | 478,855,000 | 469,237,000 | |||||
Commercial Real Estate Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 33,000 | 33,000 | 33,000 | ||||
Commercial Portfolio Segment [Member] | |||||||
Beginning balance | 746,000 | 671,000 | 697,000 | 627,000 | |||
Charge-offs | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | 0 | ||||
Provision for loan losses | 15,000 | 60,000 | 64,000 | 104,000 | |||
Ending balance | 761,000 | 731,000 | 761,000 | 731,000 | |||
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 761,000 | 697,000 | 731,000 | ||||
746,000 | 671,000 | 761,000 | 731,000 | 761,000 | 697,000 | 731,000 | |
Individually evaluated for impairment | 303,000 | 306,000 | 309,000 | ||||
Collectively evaluated for impairment | 65,141,000 | 63,895,000 | 67,265,000 | ||||
65,444,000 | 64,201,000 | 68,073,000 | |||||
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 0 | 0 | 499,000 | ||||
0 | 0 | ||||||
Consumer Portfolio Segment [Member] | |||||||
Beginning balance | 30,000 | 55,000 | 51,000 | 38,000 | |||
Charge-offs | (9,000) | (5,000) | (26,000) | (12,000) | |||
Recoveries | 2,000 | 2,000 | 5,000 | 5,000 | |||
Provision for loan losses | 0 | (4,000) | (7,000) | 17,000 | |||
Ending balance | 23,000 | 48,000 | 23,000 | 48,000 | |||
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 23,000 | 51,000 | 48,000 | ||||
30,000 | 55,000 | 23,000 | 48,000 | 23,000 | 51,000 | 48,000 | |
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 607,000 | 767,000 | 736,000 | ||||
607,000 | 767,000 | 736,000 | |||||
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 0 | 0 | 0 | ||||
0 | 0 | ||||||
Residential Portfolio Segment [Member] | |||||||
Beginning balance | 321,000 | 387,000 | 325,000 | 426,000 | |||
Charge-offs | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | 1,000 | ||||
Provision for loan losses | (7,000) | (8,000) | (12,000) | (47,000) | |||
Ending balance | 314,000 | 379,000 | 314,000 | 379,000 | |||
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 314,000 | 325,000 | 379,000 | ||||
321,000 | 387,000 | 314,000 | 379,000 | 314,000 | 325,000 | 379,000 | |
Individually evaluated for impairment | 15,000 | 16,000 | 0 | ||||
Collectively evaluated for impairment | 37,821,000 | 38,656,000 | 36,756,000 | ||||
37,836,000 | 38,672,000 | 36,756,000 | |||||
Residential Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 0 | 0 | 0 | ||||
0 | 0 | ||||||
Agriculture [Member] | |||||||
Beginning balance | 453,000 | 431,000 | 504,000 | 309,000 | |||
Charge-offs | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | 0 | ||||
Provision for loan losses | 100,000 | 63,000 | 49,000 | 185,000 | |||
Ending balance | 553,000 | 494,000 | 553,000 | 494,000 | |||
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 553,000 | 504,000 | 494,000 | ||||
453,000 | 431,000 | 553,000 | 494,000 | 553,000 | 504,000 | 494,000 | |
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 30,049,000 | 28,454,000 | 27,767,000 | ||||
30,049,000 | 28,454,000 | 27,767,000 | |||||
Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | 0 | 0 | 0 | ||||
0 | 0 | ||||||
Unallocated Financing Receivables [Member] | |||||||
Beginning balance | 57,000 | 3,000 | 70,000 | 36,000 | |||
Charge-offs | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | 0 | ||||
Provision for loan losses | (41,000) | 41,000 | (54,000) | 8,000 | |||
Ending balance | 16,000 | 44,000 | 16,000 | 44,000 | |||
Individually evaluated for impairment | |||||||
Collectively evaluated for impairment | 16,000 | 70,000 | 44,000 | ||||
$ 57,000 | $ 3,000 | $ 16,000 | $ 44,000 | 16,000 | 70,000 | 44,000 | |
Individually evaluated for impairment | 0 | 0 | 0 | ||||
Collectively evaluated for impairment | 0 | 0 | 0 | ||||
0 | 0 | 0 | |||||
Unallocated Financing Receivables [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Individually evaluated for impairment | $ 0 | $ 0 | $ 0 |
Note 4 - Loans - Changes in the
Note 4 - Loans - Changes in the Allowance Off Balance Sheet Commitments (Details) - Reserve for Off-balance Sheet Activities [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Balance, beginning of period | $ 302 | $ 257 | $ 284 | $ 238 |
Provision (Recovery) to Operations for Off Balance Sheet Commitments | (4) | 6 | 14 | (25) |
Balance, end of period | $ 298 | $ 263 | $ 298 | $ 263 |
Note 5 - Other Real Estate Ow34
Note 5 - Other Real Estate Owned (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Number of Real Estate Properties | 2 | 3 | ||
Real Estate Acquired Through Foreclosure | $ 253,000 | $ 1,210,000 | ||
Gains (Losses) on Sales of Other Real Estate | 211,000 | $ (88,000) | ||
Real Estate Owned, Transfer to Real Estate Owned | $ 253,000 | $ 0 | $ 253,000 | |
Number of Real Estate Properties, Disposed Of | 2 |
Note 6 - Other Post-retiremen35
Note 6 - Other Post-retirement Benefit Plans (Details Textual) | Jan. 31, 2008 | Sep. 30, 2016USD ($) | Mar. 31, 2014USD ($) | Jan. 31, 2008USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) |
Number Of Directors Awarded Director Retirement Plan | 3 | 2 | |||||
Liability, Other Postretirement Defined Benefit Plan | $ 2,960,000 | $ 2,762,000 | |||||
Payment to Acquire Life Insurance Policy, Investing Activities | $ 4,000,000 | $ 1,000,000 | $ 4,700,000 | 0 | $ 4,000,000 | ||
Bank Owned Life Insurance | $ 18,389,000 | $ 18,004,000 | |||||
Director Retirement Plan [Member] | |||||||
Other Postretirement Defined Benefit Plan Expected Annual Future Benefit Payments Period | 10 years | ||||||
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 |
Note 7 - Financial Instrument36
Note 7 - Financial Instruments and Fair Value Measurements (Details Textual) | 9 Months Ended |
Sep. 30, 2017 | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | |
Fair Value Inputs, Discount Rate | 6.00% |
Note 7 - Financial Instrument37
Note 7 - Financial Instruments and Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Financial assets: | ||||
Cash and cash equivalents | $ 139,628 | $ 190,810 | $ 147,263 | $ 190,603 |
Loans, net | 626,911 | 601,104 | ||
Financial liabilities: | ||||
Deposits | (901,716) | (914,093) | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 139,628 | 190,810 | ||
Cash and cash equivalents, fair value | 139,628 | 190,810 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets: | ||||
Restricted equity securities | 4,135 | 3,795 | ||
Restricted equity securities, fair value | 4,135 | 3,795 | ||
Interest receivable | 2,730 | 2,831 | ||
Financial liabilities: | ||||
Interest payable | (33) | (45) | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets: | ||||
Loans, net | 626,911 | 601,104 | ||
Loans, net, fair value | 633,841 | 611,553 | ||
Financial liabilities: | ||||
Deposits | (901,716) | (914,093) | ||
Deposits, fair value | (802,610) | (811,519) | ||
Off-balance-sheet assets (liabilities): | ||||
Commitments and standby letters of credit, fair value | $ (1,165) | $ (1,107) |
Note 7 - Financial Instrument38
Note 7 - Financial Instruments and Fair Value Measurements - Financial Instruments Measured on Recurring and Non Recurring Basis (Details) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Securities available for sale | $ 180,857,000 | $ 160,333,000 |
Other real estate owned | 253,000 | 1,210,000 |
Fair Value, Measurements, Recurring [Member] | Mutual Fund [Member] | ||
Securities available for sale | 3,116,000 | 3,059,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member] | ||
Securities available for sale | 3,116,000 | 3,059,000 |
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] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 27,209,000 | 28,286,000 |
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 | 27,209,000 | 28,286,000 |
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] | Collateralized Mortgage Obligations [Member] | ||
Securities available for sale | 3,940,000 | 4,109,000 |
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 | 3,940,000 | 4,109,000 |
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] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 90,600,000 | 78,329,000 |
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 | 90,600,000 | 78,329,000 |
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] | SBA Pool [Member] | ||
Securities available for sale | 12,407,000 | 7,168,000 |
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 | 12,407,000 | 7,168,000 |
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] | Corporate Debt Securities [Member] | ||
Securities available for sale | 18,732,000 | 20,563,000 |
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 | 18,732,000 | 20,563,000 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt 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 | 24,853,000 | 18,819,000 |
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 | 24,853,000 | 18,819,000 |
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Other real estate owned | 253,000 | 1,210,000 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Impaired loans | 313,000 | 1,746,000 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | ||
Impaired loans | 302,000 | 302,000 |
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 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 | 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 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 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other real estate owned | 253,000 | 1,210,000 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | ||
Impaired loans | 313,000 | 1,746,000 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | ||
Impaired loans | $ 302,000 | $ 302,000 |
Note 8 - Earnings Per Share (De
Note 8 - Earnings Per Share (Details Textual) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Employee Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 12,261 | 0 | 22,446 |
Employee Stock Option [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 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 | $ 15 | $ 15 | ||
Restricted Stock [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 | 0 |
Note 8 - Earnings Per Share - E
Note 8 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
BASIC EARNINGS PER SHARE | |||||
Net income | $ 2,468 | $ 1,930 | $ 7,505 | $ 5,343 | $ 7,665 |
Weighted average shares outstanding (in shares) | 8,065 | 8,031 | 8,056 | 8,023 | |
Net income per common share (in dollars per share) | $ 0.31 | $ 0.24 | $ 0.93 | $ 0.67 | |
DILUTED EARNINGS PER SHARE | |||||
Net income | $ 2,468 | $ 1,930 | $ 7,505 | $ 5,343 | $ 7,665 |
Weighted average shares outstanding (in shares) | 8,065 | 8,031 | 8,056 | 8,023 | |
Effect of dilutive stock options (in shares) | 5 | 1 | 18 | 35 | |
Effect of dilutive non-vested restricted shares (in shares) | 13 | 31 | 4 | 1 | |
Weighted average shares of common stock and common stock equivalents (in shares) | 8,083 | 8,063 | 8,078 | 8,059 | |
NET INCOME PER DILUTED COMMON SHARE (in dollars per share) | $ 0.31 | $ 0.24 | $ 0.93 | $ 0.66 |