Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 11, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | HomeTown Bankshares Corp | |
Entity Central Index Key | 1,461,640 | |
Trading Symbol | hmta | |
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) | 5,771,175 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | [1] |
Assets | |||
Cash and due from banks | $ 37,618 | $ 18,229 | |
Federal funds sold | 93 | 42 | |
Securities available-for-sale | 48,665 | 52,975 | |
Restricted equity securities, at cost | 2,371 | 2,213 | |
Loans held for sale | 1,108 | 678 | |
Loans, net of allowance for loan losses of $3,700 in 2017 and $3,636 in 2016 | 430,801 | 415,355 | |
Property and equipment, net | 13,177 | 13,371 | |
Other real estate owned, net of valuation allowance of $589 in 2017 and $825 in 2016 | 2,768 | 3,794 | |
Bank owned life insurance | 7,566 | 7,469 | |
Accrued income | 2,451 | 2,289 | |
Other assets | 1,332 | 875 | |
Total assets | 547,950 | 517,290 | |
Liabilities and Stockholders’ Equity | |||
Noninterest-bearing | 116,538 | 91,354 | |
Interest-bearing | 359,818 | 359,494 | |
Total deposits | 476,356 | 450,848 | |
Federal Home Loan Bank borrowings | 11,694 | 8,000 | |
Subordinated notes | 7,239 | 7,224 | |
Other borrowings | 1,100 | 1,117 | |
Accrued interest payable | 413 | 386 | |
Other liabilities | 1,313 | 1,490 | |
Total liabilities | 498,115 | 469,065 | |
Commitments and contingencies | |||
Stockholders’ equity: | |||
Common stock, $5 par value; authorized 10,000,000 shares, issued and outstanding 5,769,175 (includes 28,679 restricted shares) at June 30, 2017 and 5,760,735 (includes 31,546 restricted shares) at December 31, 2016 | 28,766 | 28,765 | |
Surplus | 17,901 | 17,833 | |
Retained earnings | 2,446 | 1,247 | |
Accumulated other comprehensive income (loss) | 252 | (56) | |
Total HomeTown Bankshares Corporation stockholders’ equity | 49,365 | 47,789 | |
Noncontrolling interest in consolidated subsidiary | 470 | 436 | |
Total stockholders’ equity | 49,835 | 48,225 | |
Total liabilities and stockholders' equity | $ 547,950 | $ 517,290 | |
[1] | Derived from consolidated audited financial statements. |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | [1] |
Loans, allowance for loan losses | $ 3,700 | $ 3,636 | |
Other real estate owned, valuation allowance | $ 589 | $ 825 | |
Common stock, par value (in dollars per share) | $ 5 | $ 5 | |
Common stock, authorized shares (in shares) | 10,000,000 | 10,000,000 | |
Common stock, shares issued (in shares) | 5,769,175 | 5,760,735 | |
Common stock, shares outstanding (in shares) | 5,769,175 | 5,760,735 | |
Common stock, restricted shares (in shares) | 28,679 | 31,546 | |
[1] | Derived from consolidated audited financial statements. |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |||
Loans and fees on loans | $ 4,703 | $ 4,337 | $ 9,327 | $ 8,593 | ||
Taxable investment securities | 260 | 201 | 500 | 405 | ||
Nontaxable investment securities | 76 | 101 | 164 | 202 | ||
Dividends on restricted stock | 33 | 36 | 65 | 70 | ||
Other interest income | 50 | 26 | 92 | 45 | ||
Total interest and dividend income | 5,122 | 4,701 | 10,148 | 9,315 | ||
Interest expense: | ||||||
Deposits | 552 | 537 | 1,106 | 1,041 | ||
Subordinated notes | 134 | 134 | 268 | 268 | ||
Other borrowed funds | 60 | 70 | 114 | 167 | ||
Total interest expense | 746 | 741 | 1,488 | 1,476 | ||
Net interest income | 4,376 | 3,960 | 8,660 | 7,839 | ||
Provision for loan losses | 465 | 808 | 535 | 868 | ||
Net interest income after provision for loan losses | 3,911 | 3,152 | 8,125 | 6,971 | ||
Noninterest income: | ||||||
Service charges on deposit accounts | 146 | 164 | 296 | 318 | ||
ATM and interchange income | 228 | 168 | 406 | 315 | ||
Mortgage banking | 255 | 181 | 462 | 356 | ||
Gains on sales of investment securities, net | 29 | 209 | 42 | 214 | ||
Other income | 375 | 151 | 525 | 281 | ||
Total noninterest income | 1,033 | 873 | 1,731 | 1,484 | ||
Noninterest expense: | ||||||
Salaries and employee benefits | 2,064 | 1,597 | 4,053 | 3,323 | ||
Occupancy and equipment expense | 439 | 444 | 854 | 878 | ||
Data processing expense | 318 | 210 | 645 | 442 | ||
ATM processing expense | 61 | 58 | 123 | 112 | ||
Advertising and marketing expense | 142 | 124 | 272 | 218 | ||
Professional fees | 132 | 116 | 365 | 217 | ||
Bank franchise taxes | 99 | 91 | 199 | 183 | ||
FDIC insurance expense | 71 | 75 | 103 | 158 | ||
Losses on sales and write-downs of other real estate owned, net | 380 | 91 | 380 | 91 | ||
Operating expenses | 24 | 25 | 37 | 47 | ||
Directors’ fees | 108 | 102 | 209 | 209 | ||
Other expense | 474 | 432 | 865 | 749 | ||
Total noninterest expense | 4,312 | 3,365 | 8,105 | 6,627 | ||
Net income before income taxes | 632 | 660 | 1,751 | 1,828 | ||
Income tax expense | 176 | 434 | 518 | 787 | ||
Net income | 456 | 226 | 1,233 | 1,041 | ||
Less net income attributable to non-controlling interest | 22 | 2 | 34 | 16 | ||
Net income attributable to HomeTown Bankshares Corporation | 434 | 224 | 1,199 | 1,025 | ||
Effective dividends on preferred stock | 204 | 408 | ||||
Net income available to common stockholders | $ 434 | $ 20 | $ 1,199 | $ 617 | ||
Basic earnings per common share (in dollars per share) | $ 0.08 | $ 0 | [1] | $ 0.21 | $ 0.17 | [1] |
Diluted earnings per common share (in dollars per share) | $ 0.08 | $ 0 | [1] | $ 0.21 | $ 0.11 | [1] |
Weighted average common shares outstanding (in shares) | 5,768,670 | 3,557,763 | [1] | 5,766,041 | 3,529,605 | [1] |
Diluted weighted average common shares outstanding (in shares) | 5,789,905 | 5,780,122 | [1] | 5,787,276 | 5,776,832 | [1] |
[1] | Restated for 4% common stock dividend distributed July 11, 2016. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net income | $ 456 | $ 226 | $ 1,233 | $ 1,041 |
Other comprehensive income: | ||||
Net unrealized holding gains on securities available for sale during the period | 431 | 422 | 509 | 732 |
Deferred income tax (expense) on unrealized holding gains on securities available for sale | (146) | (143) | (173) | (249) |
Reclassification adjustment for gains on sales of investment securities included in net income | (29) | (209) | (42) | (214) |
Tax expense related to realized gains on securities sold | 10 | 71 | 14 | 73 |
Total other comprehensive income | 266 | 141 | 308 | 342 |
Comprehensive income | 722 | 367 | 1,541 | 1,383 |
Less: Comprehensive income attributable to the non-controlling interest | 22 | 2 | 34 | 16 |
Comprehensive income attributable to HomeTown Bankshares Corporation | $ 700 | $ 365 | $ 1,507 | $ 1,367 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Net income | $ 456 | $ 226 | $ 1,233 | $ 1,041 | |
Adjustments to reconcile net income to net cash provided by operations: | |||||
Depreciation and amortization | 367 | 379 | |||
Provision for loan losses | 465 | 808 | 535 | 868 | $ 1,082 |
Amortization of premium on securities, net | 238 | 286 | |||
Amortization of discount on subordinated notes | 15 | 15 | |||
Gains on sales of loans held for sale | (327) | (255) | |||
Losses on sales and write-downs of other real estate owned, net | 380 | 91 | 380 | 91 | |
Gains on sales of investment securities, net | (29) | (209) | (42) | (214) | |
Increase in value of life insurance contracts | (97) | (86) | |||
Stock compensation expense | 73 | 75 | |||
Originations of loans held for sale | (15,383) | (10,253) | |||
Proceeds from sales of loans held for sale | 15,280 | 11,236 | |||
Changes in assets and liabilities: | |||||
Accrued income | (162) | (14) | |||
Other assets | (440) | (776) | |||
Deferred taxes, net | (175) | 221 | |||
Accrued interest payable | 27 | 39 | |||
Other liabilities | (177) | (406) | |||
Net cash flows provided by operating activities | 1,345 | 2,247 | |||
Cash flows from investing activities: | |||||
Net (increase) decrease in federal funds sold | (51) | 375 | |||
Purchases of available for sale securities | (6,696) | (10,794) | |||
Sales, maturities, and calls of available for sale securities | 11,276 | 9,286 | |||
(Purchase) redemption of restricted equity securities, net | (158) | 56 | |||
Net increase in loans | (15,981) | (27,500) | |||
Proceeds from sales of other real estate | 646 | 1,282 | |||
Purchases of property and equipment | (173) | (97) | |||
Net cash flows used in investing activities | (11,137) | (27,392) | |||
Cash flows from financing activities: | |||||
Net increase in noninterest-bearing deposits | 25,184 | 6,146 | |||
Net increase in interest-bearing deposits | 324 | 27,583 | |||
Net increase (decrease) in FHLB borrowings | 3,694 | (7,350) | |||
Net increase (decrease) in other borrowings | (17) | (1,465) | |||
Proceeds from exercise of stock options | 13 | ||||
Preferred stock dividend payment | (408) | ||||
Net settlement restricted stock and cash in lieu of fractional shares | (17) | (5) | |||
Net cash flows provided by financing activities | 29,181 | 24,501 | |||
Net increase (decrease) in cash and cash equivalents | 19,389 | (644) | |||
Cash and cash equivalents, beginning | 18,229 | 28,745 | 28,745 | ||
Cash and cash equivalents, ending | $ 37,618 | $ 28,101 | 37,618 | 28,101 | $ 18,229 |
Supplemental disclosure of cash flow information: | |||||
Cash payments for interest | 1,446 | 1,437 | |||
Cash payments for income taxes | 786 | 1,253 | |||
Supplemental disclosure of noncash investing activities: | |||||
Change in unrealized gains on available for sale securities | 467 | 518 | |||
Transfer from loans to other real estate | 473 | ||||
Conversion of Preferred Stock to Common Stock | $ 12,893 |
Note 1 - Organization and Summa
Note 1 - Organization and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 1. Organization On September 4, 2009, one one November 9, 2004 November 14, 2005. Basis of Presentation The consolidated fin ancial statements as of June 30, 2017 June 30, 2017 2016 Management believes that all interim adjustments for the periods ended June 30, 2017 December 31, 2016, 10 December 31, 2016. not The accounting and reporting policies of the Company follow generally accepted accounting principles and general practices within the financial services industry. The consolidated financial statements of HomeTown Bankshares Corporation include the accounts of its wholly-owned subsidiary HomeTown Bank and the accounts of its subsidiary, HomeTown Residential Mortgage LLC. HomeTown Bank owns a 49% not The Company ’s accounting policies and basic principles have not 10 10 |
Note 2 - Investment Securities
Note 2 - Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 2. The amortized cost and fair value of available-for-sale securities as of June 30, 2017 December 31, 2016, (Dollars In Thousands) June 30 , 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U. S. Government agency securities $ 11,140 $ 136 $ (31 ) $ 11,245 Mortgage-backed securities and CMO ’s 19,811 64 (131 ) 19,744 Corporate securities 4,500 105 – 4,605 Municipal securities 12,832 324 (85 ) 13,071 $ 48,283 $ 629 $ (247 ) $ 48,665 (Dollars In Thousands) December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U. S. Government agency securities $ 12,422 $ 118 $ (96 ) $ 12,444 Mortgage-backed securities and CMO ’s 19,979 54 (265 ) 19,768 Corporate securities 5,000 66 - 5,066 Municipal securities 15,659 266 (228 ) 15,697 $ 53,060 $ 504 $ (589 ) $ 52,975 U. S. Government agency securities: ten not not may not June 30, 2017. Mortgage-backed securities and CMO ’s: twenty-four not not may not June 30, 2017. Corporate securities : one not not June 30, 2017. Municipal securities: eight not not may not June 30, 2017. The following tables demonstrate the unrealized loss position of available-for-sale securities at June 30, 2017 December 31, 2016. June 30 , 2017 Less than 12 months 12 months or more Total (Dollars In Thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U. S. Government agency securities $ 1,466 $ (10 ) $ 1,866 $ (21 ) $ 3,332 $ (31 ) Mortgage-backed securities and CMO ’s 12,793 (112 ) 1,504 (19 ) 14,297 (131 ) Corporate securities 250 - - - 250 - Municipal securities 2,756 (73 ) 763 (12 ) 3,519 (85 ) $ 17,265 $ (195 ) $ 4,133 $ (52 ) $ 21,398 $ (247 ) December 31, 2016 Less than 12 months 12 months or more Total (Dollars In Thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Government agency securities $ 3,492 $ (32 ) $ 3,491 $ (64 ) $ 6,983 $ (96 ) Mortgage-backed securities and CMO ’s 14,232 (235 ) 1,474 (30 ) 15,706 (265 ) Corporate securities 500 - - - 500 - Municipal securities 6,967 (223 ) 262 (5 ) 7,229 (228 ) $ 25,191 $ (490 ) $ 5,227 $ (99 ) $ 30,418 $ (589 ) There are forty-three $21.4 June 30, 2017. June 30, 2017, not The Company realized gains of $ 102 $60 first six 2017. $219 $5 The amortized cost and fair values of investment securities available for sale at June 30, 2017, (Dollars In Thousands) Amortized Cost Fair Value One year or less $ 246 $ 247 Over one through five years 2,376 2,392 Over five through ten years 14,048 14,229 Greater than 10 years 31,613 31,797 $ 48,283 $ 48,665 |
Note 3 - Loans Receivable
Note 3 - Loans Receivable | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 3. The major classifications of loans in the consolidated balance sheets at June 30, 2017 December 31, 2016 (Dollars In Thousands) June 30 , 2017 December 31, 2016 Construction loans: Residential $ 9,990 $ 10,204 Land acquisition, development & commercial 31,778 27,480 Real estate: Residential 113,434 111,626 Commercial 180,121 172,248 Commercial, industrial & agricultural 61,404 59,702 Equity lines 30,519 29,956 Consumer 7,200 7,668 Overdrafts 55 107 Total 434,501 418,991 Less allowance for loan losses (3,700 ) (3,636 ) Loans, net $ 430,801 $ 415,355 The past due and nonaccrual status of loans as of June 30, 2017 (Dollars In Thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Nonaccrual Loans Construction loans: Residential $ − $ − $ − $ − $ 9,990 $ 9,990 $ − Land acquisition, development & commercial 241 − − 241 31,537 31,778 − Real estate: Residential 1,183 190 577 1,950 111,484 113,434 577 Commercial 817 − − 817 179,304 180,121 2,748 Commercial, industrial & agricultural 45 16 10 71 61,388 61,459 27 Equity lines 225 104 − 329 30,190 30,519 − Consumer 30 - 7 37 7,163 7,200 − Total $ 2,541 $ 310 $ 594 $ 3,445 $ 431,056 $ 434,501 $ 3,352 The past-due and nonaccrual status of loans as of December 31, 2016 (Dollars In Thousands) 30-59 Days Past-Due 60-89 Days Past-Due 90 Days or More Past-Due Total Past- Due Current Total Loans Nonaccrual Loans Construction: Residential $ − $ − $ − $ − $ 10,204 $ 10,204 $ − Land acquisition, development & commercial − − − − 27,480 27,480 − Real Estate: Residential 672 193 577 1,442 110,184 111,626 577 Commercial 115 − − 115 172,133 172,248 336 Commercial, industrial & agricultural 60 33 − 93 59,716 59,809 11 Equity lines 258 − − 258 29,698 29,956 − Consumer 8 6 4 18 7,650 7,668 − Total $ 1,113 $ 232 $ 581 $ 1,926 $ 417,065 $ 418,991 $ 924 There were two $17 ninety June 30, 2017. two $4 ninety December 31, 2016. Impaired loans, which include TDR ’s of $4.2 June 30, 2017, June 30 , 2017 With no related allowance: (Dollars In Thousands) Recorded Investment in Loans Unpaid Principal Balance Related Allowance Average Balance Total Loans Interest Income Recognized Construction loans: Residential $ − $ − $ − $ − $ − Land acquisition, development & commercial − − − − − Real estate: Residential 767 767 − 768 11 Commercial 6,593 6,769 − 7,053 80 Commercial, industrial & agricultural 27 27 − 28 − Equity lines − − − − − Consumer − − − − − Total loans with no allowance $ 7,387 $ 7,563 $ − $ 7,849 $ 91 June 30 , 2017 With an allowance recorded: (Dollars In Thousands) Recorded Investment in Loans Unpaid Principal Balance Related Allowance Average Balance Total Loans Interest Income Recognized Construction loans: Residential $ − $ − $ − $ − $ − Land acquisition, development & commercial − − − − − Real estate: Residential − − − − − Commercial 108 108 17 112 − Commercial, industrial & agricultural − − − − − Equity lines − − − − − Consumer − − − − − Total loans with an allowance $ 108 $ 108 $ 17 $ 112 $ − Impaired loans, which include TDRs of $6.4 December 31, 2016, December 31, 2016 With no related allowance: (Dollars In Thousands) Recorded Investment in Loans Unpaid Principal Balance Related Allowance Average Balance Total Loans Interest Income Recognized Construction: Residential $ − $ − $ – $ − $ − Land acquisition, development & commercial − − – − − Real Estate: Residential 770 770 – 629 (11 ) Commercial 6,380 6,556 – 6,521 255 Commercial, industrial & agricultural 11 11 – 11 − Equity lines − − – − − Consumer − − – − − Total loans with no allowance $ 7,161 $ 7,337 $ – $ 7,161 $ 244 December 31, 2016 With an allowance recorded: (Dollars In Thousands) Recorded Investment in Loans Unpaid Principal Balance Related Allowance Average Balance Total Loans Interest Income Recognized Construction: Residential $ − $ − $ − $ − $ − Land acquisition, development & commercial − − − − − Real Estate: Residential − − − − − Commercial 115 115 17 122 − Commercial, industrial & agricultural − − − − − Equity lines − − − − − Consumer − − − − − Total loans with an allowance $ 115 $ 115 $ 17 $ 122 $ − Troubled Debt Restructurings Troubled debt restructurings (“TDR ’s”) were comprised of five $4.2 June 30, 2017. $6.4 December 31, 2016. Two five $4.0 June 30, 2017. three $241 second 2017. Two $549 June 30, 2017. The following table presents by class of loan, information related to the loan modified in a TDR during 2017: (Dollars in Thousands) Loans modified as TDR's For the six months ended June 30 , 2017 Class of Loan Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Construction loans: Residential — $ — $ — Land acquisition, development & commercial — — — Real estate loans: Residential — — — Commercial 1 218 218 Commercial, industrial, agricultural — 11 29 Equity lines — — — Consumer — — — Total Loans 1 $ 229 $ 247 The loan relationship identified above in the table was originally restructured into two ’s during 2015 2016. $18 first 2017. No first six 2016. Management considers troubled debt restructurings and subsequent defaults in restructured loans in the determination of the adequacy of the Company ’s allowance for loan losses. When identified as a TDR, a loan is evaluated for potential loss based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the estimated fair value of the collateral, less any selling costs if the loan is collateral dependent. Loans identified as TDRs frequently are on non-accrual status at the time of the restructuring and, in some cases, partial charge-offs may may may may may may |
Note 4 - Allowance for Loan Los
Note 4 - Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | Note 4. The following table presents, as of June 30, 2017, June 30 , 2017 Allowance for loan losses Loans Class of Loan (Dollars in Thousands) Beginning balance Charge- offs Recoveries Provisions Ending balance Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Ending balance Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Construction loans: Residential $ 63 $ − $ − $ (2 ) $ 61 $ − $ 61 $ 9,990 $ − $ 9,990 Land acquisition, development & commercial 173 − − 31 204 − 204 31,778 − 31,778 Real estate: − Residential 866 − − (51 ) 815 − 815 113,434 767 112,667 Commercial 1,516 (430 ) 38 615 1,739 17 1,722 180,121 6,701 173,420 Commercial, industrial & agricultural 461 (57 ) − 69 473 − 473 61,459 27 61,432 Equity lines 338 − − (57 ) 281 − 281 30,519 − 30,519 Consumer 97 (39 ) 17 22 97 − 97 7,200 − 7,200 Unallocated 122 − − (92 ) 30 − 30 − − − Total $ 3,636 $ (526 ) $ 55 $ 535 $ 3,700 $ 17 $ 3,683 $ 434,501 $ 7,495 $ 427,006 The following table presents, as of December 31, 2016, December 31, 2016 Allowance for loan losses Loans Class of Loan (Dollars in Thousands) Beginning balance Charge- offs Recoveries Provisions Ending balance Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Ending balance Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Construction loans: Residential $ 83 $ − $ − $ (20 ) $ 63 $ − $ 63 $ 10,204 $ − $ 10,204 Land acquisition, development & commercial 187 (2 ) − (12 ) 173 − 173 27,480 − 27,480 Real estate: Residential 1,047 (4 ) 45 (222 ) 866 − 866 111,626 770 110,856 Commercial 1,001 (606 ) − 1,121 1,516 17 1,499 172,248 6,495 165,753 Commercial, industrial & agricultural 531 (34 ) − (36 ) 461 − 461 59,809 11 59,798 Equity lines 277 (99 ) 10 150 338 − 338 29,956 − 29,956 Consumer 85 (103 ) 49 66 97 − 97 7,668 − 7,668 Unallocated 87 − − 35 122 − 122 − − − Total $ 3,298 $ (848 ) $ 104 $ 1,082 $ 3,636 $ 17 $ 3,619 $ 418,991 $ 7,276 $ 411,715 Loans by credit quality indicators as of June 30, 2017 (Dollars in Thousands) Pass Special Mention Substandard Accruing Substandard Nonaccrual Total Construction loans: Residential $ 9,990 $ − $ − $ − $ 9,990 Land acquisition, development & commercial 31,778 − − − 31,778 Real estate loans: Residential 112,667 − 190 577 113,434 Commercial 176,840 − 533 2,748 180,121 Commercial, industrial, agricultural 60,806 83 543 27 61,459 Equity lines 30,519 − − − 30,519 Consumer 7,200 − − − 7,200 Total Loans $ 429,800 $ 83 $ 1,266 $ 3,352 $ 434,501 Loans by credit quality indicators as of December 31, 2016 (Dollars in Thousands) Pass Special Mention Substandard Accruing Substandard Nonaccrual Total Construction loans: Residential $ 10,204 $ − $ − $ − $ 10,204 Land acquisition, development & commercial 27,480 − − − 27,480 Real estate loans: Residential 110,856 − 193 577 111,626 Commercial 171,369 − 543 336 172,248 Commercial, industrial, agricultural 59,120 78 600 11 59,809 Equity lines 29,956 − − − 29,956 Consumer 7,668 − − − 7,668 Total Loans $ 416,653 $ 78 $ 1,336 $ 924 $ 418,991 At June 30, 2017 December 31, 2016, no |
Note 5 - Other Real Estate Owne
Note 5 - Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | Note 5. Changes in other real estate owned for the six June 30, 2017 (Dollars in Thousands) Other Real Estate Owned Valuation Allowance Net Balance at the beginning of the year $ 4,619 $ (825 ) $ 3,794 Additions — — — Write downs — (380 ) (380 ) Sales (1,262 ) 616 (646 ) Balance at quarter end $ 3,357 $ (589 ) $ 2,768 Changes in foreclosed properties for the six June 30, 2016 (Dollars in Thousands) Other Real Estate Owned Valuation Allowance Net Balance at the beginning of the year $ 5,657 $ (420 ) $ 5,237 Additions 473 — 473 Write downs — — — Sales (1,373 ) — (1,373 ) Balance at quarter end $ 4,757 $ (420 ) $ 4,337 The major classifications of other real estate owned in the consolidated balance sheets at June 30, 2017 December 31, 2016 (Dollars in Thousands) June 30 , 2017 December 31, 2016 Residential lots $ 2,187 $ 2,234 Residential development 43 423 Commercial lots 90 90 Commercial buildings 448 1,047 Total Other Real Estate Owned $ 2,768 $ 3,794 There were no June 30, 2017 December 31, 2016. Other real estate owned related expenses in the consolidated statements of income for the three and six June 30, 2017 June 30, 2016 (Dollars In Thousands) Three months Ended June 30, 2017 Three months Ended June 30, 2016 Six months Ended June 30, 2017 Six months Ended June 30, 2016 Net loss on sales $ — $ 91 $ — $ 91 Provision for unrealized losses 380 — 380 — Operating expenses 24 25 37 47 Total Other Real Estate Owned $ 404 $ 116 $ 417 $ 138 |
Note 6 - Stock Based Compensati
Note 6 - Stock Based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 6. The Company recorded stock based compensation expense of $ 73 $75 June 30, 2017 2016, The 2005 2016, no was measured at the grant date based on the fair value of the award and was and continues to be recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. The Company used the Black-Scholes option pricing model to determine the fair value of stock options. The fair value of the stock based payment awards was affected by the price of the Company's stock and a number of financial assumptions and variables. These variables included the risk-free interest rate, expected dividend rate, expected stock price volatility and the expected life of the options. No 2017 2016. $36 $40 June 30, 2017 June 30, 2016, June 30, 2017, $176 2.50 not 4% July 11, 2016. A summary of option activity under the 2005 June 30, 2017 Options Outstanding Weighted Average Exercise Price Aggregate Intrinsic Value (1) Weighted Average Contractual Term (years) Balance at December 31, 2016 201,000 $ 7.80 Granted – – Exercised (2,000 ) 6.90 Expired – – Forfeited – – Balance at June 30, 2017 199,000 $ 7.81 $ 605,017 6.00 Exercisable at June 30, 2017 107,200 $ 8.59 $ 251,577 4.73 ( 1 June 30, 2017. In 2009, 132,000 July 11, 2016, 4% 5,280 137,280. five 37 $35 June 30, 2017 2016, 8,258 11,149* June 30, 2017 June 30, 2016, 2017 $9.87 $9.09* 2016. As of June 30, 2017, $209 2022. For the Six Months Ended June 30 , 2017 For the Six Months Ended June 30 , 2016 Shares Weighted- Average Grant Date Fair Value Shares Weighted- Average Grant Date Fair Value Nonvested at beginning of year 31,546 $ 7.03 39,352 * $ 6.00 * Granted 8,258 9.87 11,149 * 9.09 * Vested (11,125 ) 6.03 (11,371 ) * 5.44 * Forfeited - - (6,788 ) * 6.99 * Nonvested at the end of the period 28,679 $ 8.23 32,342 * $ 7.06 * The Restricted Stock Plan provides for the adjustment of the total number of shares reserved for issuance under the plan and the number of shares covered by each outstanding Award for stock dividends and stock splits. *Restated for the 4% July 11, 2016. |
Note 7 - Fair Value Measurement
Note 7 - Fair Value Measurement | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 7. The Company uses a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company ’s market assumptions. The three two Level 1 Level 2 Level 3 one The following describes the valuation techniques used by the Company to measure certain financial assets and liabilities recorded at fair value on a recurring basis in the consolidated financial statements: Securities available for sale: Securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted market prices, when available (Level 1 not may 2 The following tables present the balances of financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 December 31, 2016: (Dollars in Thousands) Carrying value at June 30, 2017 Description Balance as of June 30 , 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government agency securities $ 11,245 $ – $ 11,245 $ – Mortgage-backed securities and CMO ’s 19,744 – 19,744 – Corporate securities 4,605 – 4,605 – Municipal securities 13,071 – 13,071 – (Dollars in Thousands) Carrying value at December 31, 2016 Description Balance as of December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government agency securities $ 12,444 $ – $ 12,444 $ – Mortgage-backed securities and CMO ’s 19,768 – 19,768 – Corporate securities 5,066 – 5,066 – Municipal securities 15,697 – 15,697 – Certain assets are measured at fair value on a nonrecurring basis in accordance with generally accepted accounting principles (GAAP). Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets. The following describes the valuation techniques used by the Company to measure certain assets recorded at fair value on a nonrecurring basis in the consolidated financial statements: Impaired Loans: The Company does not not one not 2. not no 3. Loans held for sale: The carrying value of these loans approximates the fair value. These loans close in the name of the Bank’s consolidated joint venture subsidiary HomeTown Residential Mortgage, LLC, but are generally sold within a two Other Real Estate Owned (OREO) : The carrying amount of real estate owned by the Company resulting from foreclosures is estimated at the lesser of cost or the fair value of the real estate based on an observable market price or a current appraised value less selling costs. If carried at market price based on appraised value using observable market data, it is recorded as nonrecurring Level 2. not not no 3. The following tables summarize the Company ’s assets that were measured at fair value on a nonrecurring basis as of June 30, 2017 December 31, 2016. (Dollars in Thousands) Carrying value at June 30, 2017 Description Balance as of June 30, 201 7 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Impaired loans, net of valuation allowance $ 91 $ – $ – $ 91 Loans held for sale 1,108 – 1,108 – Other real estate owned 2,768 – – 2,768 (Dollars in Thousands) Carrying value at December 31, 2016 Description Balance as of December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Impaired loans, net of valuation allowance $ 98 $ – $ – $ 98 Loans held for sale 678 – 678 – Other real estate owned 3,794 – – 3,794 At June 30, 2017 December 31, 2016, not The following table displays quantitative information about Level 3 June 30, 2017: (Dollars in Thousands) Quantitative information about Level 3 Fair Value Measurements for June 30, 2017 Assets Fair Value Valuation Technique(s) Unobservable input Range (Weighted Average) Impaired loans $ 91 Discounted appraised value Residual cash flows discount rate 6% - 6% (6 %) Other real estate owned $ 1,513 Discounted appraised value Selling cost 6% - 6% (6 %) Discount for lack of marketability and age of appraisal 4% - 12% (10 %) $ 1, 255 Internal evaluations Internal evaluations 3% - 90 % (1 9 %) The following table displays quantitative information about Level 3 December 31, 2016: (Dollars in Thousands) Quantitative information about Level 3 Fair Value Measurements for December 31, 2016 Assets Fair Value Valuation Technique(s) Unobservable input Range (Weighted Average) Impaired loans $ 98 Discounted appraised value Residual cash flows discount rate 6% - 6% (6 %) Other real estate owned $ 1,560 Discounted appraised value Selling cost 6% - 6% (6 %) Discount for lack of marketability and age of appraisal 4% - 12% (10 %) $ 2,234 Internal evaluations Internal evaluations 4% - 54% (24 %) The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments: Cash and due from banks: The carrying amounts reported in the consolidated balance sheet for cash on hand and amounts due from correspondent banks approximate their fair values. Federal funds sold: Federal funds sold consist of overnight loans to other financial institutions and mature within one three June 30, 2017 December 31, 2016, Securities available for sale: Securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted market prices, when available (Level 1 not may securities by using pricing models that consider observable market data (Level 2 Restricted equity securities: For these restricted equity securities, the carrying amount is a reasonable estimate of fair value based on the redemption provisions of the related securities. Loans held for sale: The carrying value of these loans approximates the fair value. These loans close in the name of the Bank ’s joint venture subsidiary HomeTown Residential Mortgage, LLC, but are generally sold within a two Loans receivable: For variable-rate loans that reprice frequently and with no Bank owned life insurance: The cash values of these policies are estimates using information provided by insurance carriers. The policies are carried at their cash surrender value, which approximates fair value. Deposit liabilities: The fair values disclosed for demand and savings deposits are, by definition, equal to the amount payable on demand at the reporting date. The fair values for certificates of deposit and individual retirement accounts are estimated using a discounted cash flow calculation that applies interest rates currently being offered to a schedule of contractual maturities on such time deposits. FHLB borrowings: The fair values for FHLB borrowings are estimated using a discounted cash flow calculation that applies interest rates currently being offered on FHLB borrowings to the contractual maturities on such FHLB borrowings. Subordinated notes: The fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable market data. Third party vendors compile prices from various sources and may 2 Other borrowings: The warehouse line of credit is a short term revolving credit facility used to fund mortgage loans originations until the underlying loan is sold. The warehouse line of credit, federal funds purchased, borrowings under repurchase agreements mature within 30 Accrued interest: The carrying amount of accrued interest receivable and payable approximates fair value. Off-balance sheet financial instruments: The fair values of commitments to extend credit and standby letters of credit are estimated using the fees currently charged to enter into similar agreements. At June 30, 2017 December 31, 2016, The carrying amounts and approximate fair values of the Company's financial instruments are as follows at June 30, 2017: (Dollars in Thousands) Fair value at June 30, 2017 Description Carrying value as of June 30 , 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Approximate Fair Values Financial assets Cash and due from banks $ 37,618 $ 37,618 $ – $ – $ 37,618 Federal funds sold 93 93 – – 93 Securities available for sale 48,665 – 48,665 – 48,665 Restricted equity securities 2,371 – 2,371 – 2,371 Loans held for sale 1,108 – 1,108 – 1,108 Loans, net 430,801 – – 431,796 431,796 Bank owned life insurance 7,566 – 7,566 – 7,566 Accrued income 2,451 – 2,451 – 2,451 Financial liabilities Total deposits 476,356 – 476,637 – 476,637 FHLB borrowings 11,694 – 11,691 – 11,691 Subordinated notes 7,239 – 8,024 – 8,024 Other borrowings 1,100 – 1,100 – 1,100 Accrued interest payable 413 – 413 – 413 The carrying amounts and approximate fair values of the Company's financial instruments are as follows at December 31, 2016: (Dollars in Thousands) Fair value at December 31, 2016 Description Carrying value as of December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Approximate Fair Values Financial assets Cash and due from banks $ 18,229 $ 17,479 $ 760 $ – $ 18,239 Federal funds sold 42 42 – – 42 Securities available for sale 52,975 – 52,975 – 52,975 Restricted equity securities 2,213 – 2,213 – 2,213 Loans held for sale 678 – 678 – 678 Loans, net 415,355 – – 415,039 415,039 Bank owned life insurance 7,469 – 7,469 – 7,469 Accrued income 2,289 – 2,289 – 2,289 Financial liabilities Total deposits 450,848 – 451,385 – 451,385 FHLB borrowings 8,000 – 8,031 – 8,031 Subordinated notes 7,224 – 8,012 – 8,012 Other borrowings 1,117 – 1,117 – 1,117 Accrued interest payable 386 – 386 – 386 |
Note 8 - Reclassifications Out
Note 8 - Reclassifications Out of Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 8. Items reclassified in their entirety to net income for the three and six June 30, 2017 2016 Details about Other Comprehensive Components Amounts Reclassified from Other Comprehensive Income for the Three Months Ended June 30, Affected Line Item in the Statement Where Net Income is Presented (Dollars In Thousands) 201 7 201 6 Available for sale securities Realized gains on sales of securities held for sale during the period consider available for sale $ 29 $ 209 Gains on sales of investment securities Tax expense related to realized gains on securities sold 10 71 Income tax expense $ 19 $ 138 Net income Details about Other Comprehensive Components Amounts Reclassified from Other Comprehensive Income for the Six Months Ended June 30, Affected Line Item in the Statement Where Net Income is Presented (Dollars In Thousands) 201 7 201 6 Available for sale securities Realized gains on sales of securities held for sale during the period consider available for sale $ 42 $ 214 Gains on sales of investment securities Tax expense related to realized gains on securities sold 14 73 Income tax expense $ 28 $ 141 Net income |
Note 9 - Earnings Per Common Sh
Note 9 - Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 9. The following tables show the weighted average number of shares used in computing earnings per common share and the effect on weighted average number of shares of diluted potential common stock. All of the remaining Series C Preferred Stock was converted to common stock on June 29, 2016. For the Three Months Ended June 30 , 2017 2016 Dollars in Thousands, except share and per share data Weighted Average Common Shares Outstanding Net Income Available to Common Shareholders Per Share Amount Weighted Average Common Shares Outstanding Net Income Available to Common Shareholders Per Share Amount Earnings per common share, basic 5,768,670 $ 434 $ 0.08 3,557,763 $ 20 $ 0.00 Series C Preferred Stock Dividends − − Effect of dilutive securities: Convertible preferred stock − − − 2,213,303 − − Dilutive stock options 21,235 − − 9,056 − − Earnings per common share, diluted 5,789,905 $ 434 $ 0.08 5,780,122 $ 20 $ 0.00 For the Six Months Ended June 30 , 2017 2016 Dollars In Thousands, except share and per share data Weighted Average Common Share s Outstanding Net Income Available to Common Shareholders Per Share Amount Weighted Average Common Share s Outstanding Net Income Available to Common Shareholders Per Share Amount Earnings per common share, basic 5,766,041 $ 1,199 $ 0.21 3,529,605 $ 617 $ 0.17 Series C Preferred Stock Dividends − − Effect of dilutive securities: Convertible preferred stock − − 2,238,171 − (0.08 ) Dilutive stock options 21,235 − 9,056 − − Earnings per common share, diluted 5,787,276 $ 1,199 $ 0.21 5,776,832 $ 617 $ 0.11 At June 30, 2017 2016, 33,000 49,500, |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 10. There were no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The consolidated fin ancial statements as of June 30, 2017 June 30, 2017 2016 Management believes that all interim adjustments for the periods ended June 30, 2017 December 31, 2016, 10 December 31, 2016. not The accounting and reporting policies of the Company follow generally accepted accounting principles and general practices within the financial services industry. The consolidated financial statements of HomeTown Bankshares Corporation include the accounts of its wholly-owned subsidiary HomeTown Bank and the accounts of its subsidiary, HomeTown Residential Mortgage LLC. HomeTown Bank owns a 49% not The Company ’s accounting policies and basic principles have not 10 10 |
Note 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | (Dollars In Thousands) June 30 , 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U. S. Government agency securities $ 11,140 $ 136 $ (31 ) $ 11,245 Mortgage-backed securities and CMO ’s 19,811 64 (131 ) 19,744 Corporate securities 4,500 105 – 4,605 Municipal securities 12,832 324 (85 ) 13,071 $ 48,283 $ 629 $ (247 ) $ 48,665 (Dollars In Thousands) December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U. S. Government agency securities $ 12,422 $ 118 $ (96 ) $ 12,444 Mortgage-backed securities and CMO ’s 19,979 54 (265 ) 19,768 Corporate securities 5,000 66 - 5,066 Municipal securities 15,659 266 (228 ) 15,697 $ 53,060 $ 504 $ (589 ) $ 52,975 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30 , 2017 Less than 12 months 12 months or more Total (Dollars In Thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U. S. Government agency securities $ 1,466 $ (10 ) $ 1,866 $ (21 ) $ 3,332 $ (31 ) Mortgage-backed securities and CMO ’s 12,793 (112 ) 1,504 (19 ) 14,297 (131 ) Corporate securities 250 - - - 250 - Municipal securities 2,756 (73 ) 763 (12 ) 3,519 (85 ) $ 17,265 $ (195 ) $ 4,133 $ (52 ) $ 21,398 $ (247 ) December 31, 2016 Less than 12 months 12 months or more Total (Dollars In Thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Government agency securities $ 3,492 $ (32 ) $ 3,491 $ (64 ) $ 6,983 $ (96 ) Mortgage-backed securities and CMO ’s 14,232 (235 ) 1,474 (30 ) 15,706 (265 ) Corporate securities 500 - - - 500 - Municipal securities 6,967 (223 ) 262 (5 ) 7,229 (228 ) $ 25,191 $ (490 ) $ 5,227 $ (99 ) $ 30,418 $ (589 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | (Dollars In Thousands) Amortized Cost Fair Value One year or less $ 246 $ 247 Over one through five years 2,376 2,392 Over five through ten years 14,048 14,229 Greater than 10 years 31,613 31,797 $ 48,283 $ 48,665 |
Note 3 - Loans Receivable (Tabl
Note 3 - Loans Receivable (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (Dollars In Thousands) June 30 , 2017 December 31, 2016 Construction loans: Residential $ 9,990 $ 10,204 Land acquisition, development & commercial 31,778 27,480 Real estate: Residential 113,434 111,626 Commercial 180,121 172,248 Commercial, industrial & agricultural 61,404 59,702 Equity lines 30,519 29,956 Consumer 7,200 7,668 Overdrafts 55 107 Total 434,501 418,991 Less allowance for loan losses (3,700 ) (3,636 ) Loans, net $ 430,801 $ 415,355 |
Past Due Financing Receivables [Table Text Block] | (Dollars In Thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Nonaccrual Loans Construction loans: Residential $ − $ − $ − $ − $ 9,990 $ 9,990 $ − Land acquisition, development & commercial 241 − − 241 31,537 31,778 − Real estate: Residential 1,183 190 577 1,950 111,484 113,434 577 Commercial 817 − − 817 179,304 180,121 2,748 Commercial, industrial & agricultural 45 16 10 71 61,388 61,459 27 Equity lines 225 104 − 329 30,190 30,519 − Consumer 30 - 7 37 7,163 7,200 − Total $ 2,541 $ 310 $ 594 $ 3,445 $ 431,056 $ 434,501 $ 3,352 (Dollars In Thousands) 30-59 Days Past-Due 60-89 Days Past-Due 90 Days or More Past-Due Total Past- Due Current Total Loans Nonaccrual Loans Construction: Residential $ − $ − $ − $ − $ 10,204 $ 10,204 $ − Land acquisition, development & commercial − − − − 27,480 27,480 − Real Estate: Residential 672 193 577 1,442 110,184 111,626 577 Commercial 115 − − 115 172,133 172,248 336 Commercial, industrial & agricultural 60 33 − 93 59,716 59,809 11 Equity lines 258 − − 258 29,698 29,956 − Consumer 8 6 4 18 7,650 7,668 − Total $ 1,113 $ 232 $ 581 $ 1,926 $ 417,065 $ 418,991 $ 924 |
Impaired Financing Receivables [Table Text Block] | June 30 , 2017 With no related allowance: (Dollars In Thousands) Recorded Investment in Loans Unpaid Principal Balance Related Allowance Average Balance Total Loans Interest Income Recognized Construction loans: Residential $ − $ − $ − $ − $ − Land acquisition, development & commercial − − − − − Real estate: Residential 767 767 − 768 11 Commercial 6,593 6,769 − 7,053 80 Commercial, industrial & agricultural 27 27 − 28 − Equity lines − − − − − Consumer − − − − − Total loans with no allowance $ 7,387 $ 7,563 $ − $ 7,849 $ 91 June 30 , 2017 With an allowance recorded: (Dollars In Thousands) Recorded Investment in Loans Unpaid Principal Balance Related Allowance Average Balance Total Loans Interest Income Recognized Construction loans: Residential $ − $ − $ − $ − $ − Land acquisition, development & commercial − − − − − Real estate: Residential − − − − − Commercial 108 108 17 112 − Commercial, industrial & agricultural − − − − − Equity lines − − − − − Consumer − − − − − Total loans with an allowance $ 108 $ 108 $ 17 $ 112 $ − December 31, 2016 With no related allowance: (Dollars In Thousands) Recorded Investment in Loans Unpaid Principal Balance Related Allowance Average Balance Total Loans Interest Income Recognized Construction: Residential $ − $ − $ – $ − $ − Land acquisition, development & commercial − − – − − Real Estate: Residential 770 770 – 629 (11 ) Commercial 6,380 6,556 – 6,521 255 Commercial, industrial & agricultural 11 11 – 11 − Equity lines − − – − − Consumer − − – − − Total loans with no allowance $ 7,161 $ 7,337 $ – $ 7,161 $ 244 December 31, 2016 With an allowance recorded: (Dollars In Thousands) Recorded Investment in Loans Unpaid Principal Balance Related Allowance Average Balance Total Loans Interest Income Recognized Construction: Residential $ − $ − $ − $ − $ − Land acquisition, development & commercial − − − − − Real Estate: Residential − − − − − Commercial 115 115 17 122 − Commercial, industrial & agricultural − − − − − Equity lines − − − − − Consumer − − − − − Total loans with an allowance $ 115 $ 115 $ 17 $ 122 $ − |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | (Dollars in Thousands) Loans modified as TDR's For the six months ended June 30 , 2017 Class of Loan Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Construction loans: Residential — $ — $ — Land acquisition, development & commercial — — — Real estate loans: Residential — — — Commercial 1 218 218 Commercial, industrial, agricultural — 11 29 Equity lines — — — Consumer — — — Total Loans 1 $ 229 $ 247 |
Note 4 - Allowance for Loan L20
Note 4 - Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | June 30 , 2017 Allowance for loan losses Loans Class of Loan (Dollars in Thousands) Beginning balance Charge- offs Recoveries Provisions Ending balance Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Ending balance Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Construction loans: Residential $ 63 $ − $ − $ (2 ) $ 61 $ − $ 61 $ 9,990 $ − $ 9,990 Land acquisition, development & commercial 173 − − 31 204 − 204 31,778 − 31,778 Real estate: − Residential 866 − − (51 ) 815 − 815 113,434 767 112,667 Commercial 1,516 (430 ) 38 615 1,739 17 1,722 180,121 6,701 173,420 Commercial, industrial & agricultural 461 (57 ) − 69 473 − 473 61,459 27 61,432 Equity lines 338 − − (57 ) 281 − 281 30,519 − 30,519 Consumer 97 (39 ) 17 22 97 − 97 7,200 − 7,200 Unallocated 122 − − (92 ) 30 − 30 − − − Total $ 3,636 $ (526 ) $ 55 $ 535 $ 3,700 $ 17 $ 3,683 $ 434,501 $ 7,495 $ 427,006 December 31, 2016 Allowance for loan losses Loans Class of Loan (Dollars in Thousands) Beginning balance Charge- offs Recoveries Provisions Ending balance Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Ending balance Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Construction loans: Residential $ 83 $ − $ − $ (20 ) $ 63 $ − $ 63 $ 10,204 $ − $ 10,204 Land acquisition, development & commercial 187 (2 ) − (12 ) 173 − 173 27,480 − 27,480 Real estate: Residential 1,047 (4 ) 45 (222 ) 866 − 866 111,626 770 110,856 Commercial 1,001 (606 ) − 1,121 1,516 17 1,499 172,248 6,495 165,753 Commercial, industrial & agricultural 531 (34 ) − (36 ) 461 − 461 59,809 11 59,798 Equity lines 277 (99 ) 10 150 338 − 338 29,956 − 29,956 Consumer 85 (103 ) 49 66 97 − 97 7,668 − 7,668 Unallocated 87 − − 35 122 − 122 − − − Total $ 3,298 $ (848 ) $ 104 $ 1,082 $ 3,636 $ 17 $ 3,619 $ 418,991 $ 7,276 $ 411,715 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (Dollars in Thousands) Pass Special Mention Substandard Accruing Substandard Nonaccrual Total Construction loans: Residential $ 9,990 $ − $ − $ − $ 9,990 Land acquisition, development & commercial 31,778 − − − 31,778 Real estate loans: Residential 112,667 − 190 577 113,434 Commercial 176,840 − 533 2,748 180,121 Commercial, industrial, agricultural 60,806 83 543 27 61,459 Equity lines 30,519 − − − 30,519 Consumer 7,200 − − − 7,200 Total Loans $ 429,800 $ 83 $ 1,266 $ 3,352 $ 434,501 (Dollars in Thousands) Pass Special Mention Substandard Accruing Substandard Nonaccrual Total Construction loans: Residential $ 10,204 $ − $ − $ − $ 10,204 Land acquisition, development & commercial 27,480 − − − 27,480 Real estate loans: Residential 110,856 − 193 577 111,626 Commercial 171,369 − 543 336 172,248 Commercial, industrial, agricultural 59,120 78 600 11 59,809 Equity lines 29,956 − − − 29,956 Consumer 7,668 − − − 7,668 Total Loans $ 416,653 $ 78 $ 1,336 $ 924 $ 418,991 |
Note 5 - Other Real Estate Ow21
Note 5 - Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Forclosed Properties [Table Text Block] | (Dollars in Thousands) Other Real Estate Owned Valuation Allowance Net Balance at the beginning of the year $ 4,619 $ (825 ) $ 3,794 Additions — — — Write downs — (380 ) (380 ) Sales (1,262 ) 616 (646 ) Balance at quarter end $ 3,357 $ (589 ) $ 2,768 (Dollars in Thousands) Other Real Estate Owned Valuation Allowance Net Balance at the beginning of the year $ 5,657 $ (420 ) $ 5,237 Additions 473 — 473 Write downs — — — Sales (1,373 ) — (1,373 ) Balance at quarter end $ 4,757 $ (420 ) $ 4,337 |
Schedule of Real Estate Properties [Table Text Block] | (Dollars in Thousands) June 30 , 2017 December 31, 2016 Residential lots $ 2,187 $ 2,234 Residential development 43 423 Commercial lots 90 90 Commercial buildings 448 1,047 Total Other Real Estate Owned $ 2,768 $ 3,794 (Dollars In Thousands) Three months Ended June 30, 2017 Three months Ended June 30, 2016 Six months Ended June 30, 2017 Six months Ended June 30, 2016 Net loss on sales $ — $ 91 $ — $ 91 Provision for unrealized losses 380 — 380 — Operating expenses 24 25 37 47 Total Other Real Estate Owned $ 404 $ 116 $ 417 $ 138 |
Note 6 - Stock Based Compensa22
Note 6 - Stock Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Outstanding Weighted Average Exercise Price Aggregate Intrinsic Value (1) Weighted Average Contractual Term (years) Balance at December 31, 2016 201,000 $ 7.80 Granted – – Exercised (2,000 ) 6.90 Expired – – Forfeited – – Balance at June 30, 2017 199,000 $ 7.81 $ 605,017 6.00 Exercisable at June 30, 2017 107,200 $ 8.59 $ 251,577 4.73 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | For the Six Months Ended June 30 , 2017 For the Six Months Ended June 30 , 2016 Shares Weighted- Average Grant Date Fair Value Shares Weighted- Average Grant Date Fair Value Nonvested at beginning of year 31,546 $ 7.03 39,352 * $ 6.00 * Granted 8,258 9.87 11,149 * 9.09 * Vested (11,125 ) 6.03 (11,371 ) * 5.44 * Forfeited - - (6,788 ) * 6.99 * Nonvested at the end of the period 28,679 $ 8.23 32,342 * $ 7.06 * |
Note 7 - Fair Value Measureme23
Note 7 - Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | (Dollars in Thousands) Carrying value at June 30, 2017 Description Balance as of June 30 , 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government agency securities $ 11,245 $ – $ 11,245 $ – Mortgage-backed securities and CMO ’s 19,744 – 19,744 – Corporate securities 4,605 – 4,605 – Municipal securities 13,071 – 13,071 – (Dollars in Thousands) Carrying value at December 31, 2016 Description Balance as of December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government agency securities $ 12,444 $ – $ 12,444 $ – Mortgage-backed securities and CMO ’s 19,768 – 19,768 – Corporate securities 5,066 – 5,066 – Municipal securities 15,697 – 15,697 – |
Fair Value Measurements, Nonrecurring [Table Text Block] | (Dollars in Thousands) Carrying value at June 30, 2017 Description Balance as of June 30, 201 7 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Impaired loans, net of valuation allowance $ 91 $ – $ – $ 91 Loans held for sale 1,108 – 1,108 – Other real estate owned 2,768 – – 2,768 (Dollars in Thousands) Carrying value at December 31, 2016 Description Balance as of December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Impaired loans, net of valuation allowance $ 98 $ – $ – $ 98 Loans held for sale 678 – 678 – Other real estate owned 3,794 – – 3,794 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | (Dollars in Thousands) Quantitative information about Level 3 Fair Value Measurements for June 30, 2017 Assets Fair Value Valuation Technique(s) Unobservable input Range (Weighted Average) Impaired loans $ 91 Discounted appraised value Residual cash flows discount rate 6% - 6% (6 %) Other real estate owned $ 1,513 Discounted appraised value Selling cost 6% - 6% (6 %) Discount for lack of marketability and age of appraisal 4% - 12% (10 %) $ 1, 255 Internal evaluations Internal evaluations 3% - 90 % (1 9 %) (Dollars in Thousands) Quantitative information about Level 3 Fair Value Measurements for December 31, 2016 Assets Fair Value Valuation Technique(s) Unobservable input Range (Weighted Average) Impaired loans $ 98 Discounted appraised value Residual cash flows discount rate 6% - 6% (6 %) Other real estate owned $ 1,560 Discounted appraised value Selling cost 6% - 6% (6 %) Discount for lack of marketability and age of appraisal 4% - 12% (10 %) $ 2,234 Internal evaluations Internal evaluations 4% - 54% (24 %) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (Dollars in Thousands) Fair value at June 30, 2017 Description Carrying value as of June 30 , 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Approximate Fair Values Financial assets Cash and due from banks $ 37,618 $ 37,618 $ – $ – $ 37,618 Federal funds sold 93 93 – – 93 Securities available for sale 48,665 – 48,665 – 48,665 Restricted equity securities 2,371 – 2,371 – 2,371 Loans held for sale 1,108 – 1,108 – 1,108 Loans, net 430,801 – – 431,796 431,796 Bank owned life insurance 7,566 – 7,566 – 7,566 Accrued income 2,451 – 2,451 – 2,451 Financial liabilities Total deposits 476,356 – 476,637 – 476,637 FHLB borrowings 11,694 – 11,691 – 11,691 Subordinated notes 7,239 – 8,024 – 8,024 Other borrowings 1,100 – 1,100 – 1,100 Accrued interest payable 413 – 413 – 413 (Dollars in Thousands) Fair value at December 31, 2016 Description Carrying value as of December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Approximate Fair Values Financial assets Cash and due from banks $ 18,229 $ 17,479 $ 760 $ – $ 18,239 Federal funds sold 42 42 – – 42 Securities available for sale 52,975 – 52,975 – 52,975 Restricted equity securities 2,213 – 2,213 – 2,213 Loans held for sale 678 – 678 – 678 Loans, net 415,355 – – 415,039 415,039 Bank owned life insurance 7,469 – 7,469 – 7,469 Accrued income 2,289 – 2,289 – 2,289 Financial liabilities Total deposits 450,848 – 451,385 – 451,385 FHLB borrowings 8,000 – 8,031 – 8,031 Subordinated notes 7,224 – 8,012 – 8,012 Other borrowings 1,117 – 1,117 – 1,117 Accrued interest payable 386 – 386 – 386 |
Note 8 - Reclassifications Ou24
Note 8 - Reclassifications Out of Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about Other Comprehensive Components Amounts Reclassified from Other Comprehensive Income for the Three Months Ended June 30, Affected Line Item in the Statement Where Net Income is Presented (Dollars In Thousands) 201 7 201 6 Available for sale securities Realized gains on sales of securities held for sale during the period consider available for sale $ 29 $ 209 Gains on sales of investment securities Tax expense related to realized gains on securities sold 10 71 Income tax expense $ 19 $ 138 Net income Details about Other Comprehensive Components Amounts Reclassified from Other Comprehensive Income for the Six Months Ended June 30, Affected Line Item in the Statement Where Net Income is Presented (Dollars In Thousands) 201 7 201 6 Available for sale securities Realized gains on sales of securities held for sale during the period consider available for sale $ 42 $ 214 Gains on sales of investment securities Tax expense related to realized gains on securities sold 14 73 Income tax expense $ 28 $ 141 Net income |
Note 9 - Earnings Per Common 25
Note 9 - Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended June 30 , 2017 2016 Dollars in Thousands, except share and per share data Weighted Average Common Shares Outstanding Net Income Available to Common Shareholders Per Share Amount Weighted Average Common Shares Outstanding Net Income Available to Common Shareholders Per Share Amount Earnings per common share, basic 5,768,670 $ 434 $ 0.08 3,557,763 $ 20 $ 0.00 Series C Preferred Stock Dividends − − Effect of dilutive securities: Convertible preferred stock − − − 2,213,303 − − Dilutive stock options 21,235 − − 9,056 − − Earnings per common share, diluted 5,789,905 $ 434 $ 0.08 5,780,122 $ 20 $ 0.00 For the Six Months Ended June 30 , 2017 2016 Dollars In Thousands, except share and per share data Weighted Average Common Share s Outstanding Net Income Available to Common Shareholders Per Share Amount Weighted Average Common Share s Outstanding Net Income Available to Common Shareholders Per Share Amount Earnings per common share, basic 5,766,041 $ 1,199 $ 0.21 3,529,605 $ 617 $ 0.17 Series C Preferred Stock Dividends − − Effect of dilutive securities: Convertible preferred stock − − 2,238,171 − (0.08 ) Dilutive stock options 21,235 − 9,056 − − Earnings per common share, diluted 5,787,276 $ 1,199 $ 0.21 5,776,832 $ 617 $ 0.11 |
Note 1 - Organization and Sum26
Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) | 6 Months Ended |
Jun. 30, 2017 | |
Home Town Residential Mortgage LLC [Member] | |
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions | 49.00% |
Note 2 - Investment Securitie27
Note 2 - Investment Securities (Details Textual) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 21,398 | $ 30,418 | |
Available-for-sale Securities, Gross Realized Losses | 60 | $ 5 | |
Available-for-sale Securities, Gross Realized Gains | $ 102 | $ 219 | |
US Government Agencies Debt Securities [Member] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 10 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 3,332 | 6,983 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 24 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 14,297 | 15,706 | |
Corporate Debt Securities [Member] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 250 | 500 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 8 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 3,519 | $ 7,229 | |
Debt Securities [Member] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 43 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 21,400 |
Note 2 - Investment Securitie28
Note 2 - Investment Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Securities available-for-sale, amortized cost | $ 48,283 | $ 53,060 | |
Securities available-for-sale, gross unrealized gains | 629 | 504 | |
Securities available-for-sale, gross unrealized losses | (247) | (589) | |
Securities available-for-sale | 48,665 | 52,975 | [1] |
US Government Agencies Debt Securities [Member] | |||
Securities available-for-sale, amortized cost | 11,140 | 12,422 | |
Securities available-for-sale, gross unrealized gains | 136 | 118 | |
Securities available-for-sale, gross unrealized losses | (31) | (96) | |
Securities available-for-sale | 11,245 | 12,444 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Securities available-for-sale, amortized cost | 19,811 | 19,979 | |
Securities available-for-sale, gross unrealized gains | 64 | 54 | |
Securities available-for-sale, gross unrealized losses | (131) | (265) | |
Securities available-for-sale | 19,744 | 19,768 | |
Corporate Debt Securities [Member] | |||
Securities available-for-sale, amortized cost | 4,500 | 5,000 | |
Securities available-for-sale, gross unrealized gains | 105 | 66 | |
Securities available-for-sale, gross unrealized losses | |||
Securities available-for-sale | 4,605 | 5,066 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Securities available-for-sale, amortized cost | 12,832 | 15,659 | |
Securities available-for-sale, gross unrealized gains | 324 | 266 | |
Securities available-for-sale, gross unrealized losses | (85) | (228) | |
Securities available-for-sale | $ 13,071 | $ 15,697 | |
[1] | Derived from consolidated audited financial statements. |
Note 2 - Investment Securitie29
Note 2 - Investment Securities - Unrealized Loss Positions of Available-for-sale Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Securities available-for-sale in a continuous unrealized loss position, total fair value | $ 21,398 | $ 30,418 |
Securities available-for-sale in a continuous unrealized loss position, total unrealized loss | (247) | (589) |
Securities available-for-sale in a continuous unrealized loss position, less than 12 months fair value | 17,265 | 25,191 |
Securities available-for-sale in a continuous unrealized loss position, less than 12 months unrealized loss | (195) | (490) |
Securities available-for-sale in a continuous unrealized loss position, 12 months or more fair value | 4,133 | 5,227 |
Securities available-for-sale in a continuous unrealized loss position, 12 months or more unrealized loss | (52) | (99) |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale in a continuous unrealized loss position, total fair value | 3,332 | 6,983 |
Securities available-for-sale in a continuous unrealized loss position, total unrealized loss | (31) | (96) |
Securities available-for-sale in a continuous unrealized loss position, less than 12 months fair value | 1,466 | 3,492 |
Securities available-for-sale in a continuous unrealized loss position, less than 12 months unrealized loss | (10) | (32) |
Securities available-for-sale in a continuous unrealized loss position, 12 months or more fair value | 1,866 | 3,491 |
Securities available-for-sale in a continuous unrealized loss position, 12 months or more unrealized loss | (21) | (64) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale in a continuous unrealized loss position, total fair value | 14,297 | 15,706 |
Securities available-for-sale in a continuous unrealized loss position, total unrealized loss | (131) | (265) |
Securities available-for-sale in a continuous unrealized loss position, less than 12 months fair value | 12,793 | 14,232 |
Securities available-for-sale in a continuous unrealized loss position, less than 12 months unrealized loss | (112) | (235) |
Securities available-for-sale in a continuous unrealized loss position, 12 months or more fair value | 1,504 | 1,474 |
Securities available-for-sale in a continuous unrealized loss position, 12 months or more unrealized loss | (19) | (30) |
Corporate Debt Securities [Member] | ||
Securities available-for-sale in a continuous unrealized loss position, total fair value | 250 | 500 |
Securities available-for-sale in a continuous unrealized loss position, total unrealized loss | ||
Securities available-for-sale in a continuous unrealized loss position, less than 12 months fair value | 250 | 500 |
Securities available-for-sale in a continuous unrealized loss position, less than 12 months unrealized loss | ||
Securities available-for-sale in a continuous unrealized loss position, 12 months or more fair value | ||
Securities available-for-sale in a continuous unrealized loss position, 12 months or more unrealized loss | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale in a continuous unrealized loss position, total fair value | 3,519 | 7,229 |
Securities available-for-sale in a continuous unrealized loss position, total unrealized loss | (85) | (228) |
Securities available-for-sale in a continuous unrealized loss position, less than 12 months fair value | 2,756 | 6,967 |
Securities available-for-sale in a continuous unrealized loss position, less than 12 months unrealized loss | (73) | (223) |
Securities available-for-sale in a continuous unrealized loss position, 12 months or more fair value | 763 | 262 |
Securities available-for-sale in a continuous unrealized loss position, 12 months or more unrealized loss | $ (12) | $ (5) |
Note 2 - Investment Securitie30
Note 2 - Investment Securities - Available-for-sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
One year or less, available-for-sale-securities, amortized cost | $ 246 | ||
One year or less, available-for-sale-securities, fair value | 247 | ||
Over one through five years, available-for-sale securities, amortized cost | 2,376 | ||
Over one through five years, available-for-sale securities, fair value | 2,392 | ||
Over five through ten years, available-for-sale securities, amortized cost | 14,048 | ||
Over five through ten years, available-for-sale securities, fair value | 14,229 | ||
Greater than 10 years, available-for-sale securities, amortized cost | 31,613 | ||
Greater than 10 years, available-for-sale securities, fair value | 31,797 | ||
Available-for-sale securities, amortized cost | 48,283 | $ 53,060 | |
Available-for-sale securities, fair value | $ 48,665 | $ 52,975 | [1] |
[1] | Derived from consolidated audited financial statements. |
Note 3 - Loans Receivable (Deta
Note 3 - Loans Receivable (Details Textual) $ in Thousands | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2017USD ($) | Jun. 30, 2016 | Dec. 31, 2015 | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Financing Receivable, 90 Days Past Due and Still Accruing, Number of Loans | 2 | 2 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 17 | $ 4 | |||
Receivables, Change in Method of Calculating Impairment, Recorded Investment | $ 18 | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 0 | 2 | ||
Financing Receivable, Troubled Debt Restructuring, Number of Contracts | 5 | ||||
Financing Receivable, Modifications, Recorded Investment | $ 4,200 | $ 6,400 | |||
Financing Receivable, Modifications, Number of Contracts Past Due | 2 | ||||
Financing Receivable, Modifications, Recorded Investment, Past Due | $ 549 | ||||
Performing Financial Instruments [Member] | |||||
Financing Receivable, Troubled Debt Restructuring, Number of Contracts | 2 | ||||
Financing Receivable, Modifications, Recorded Investment | $ 4,000 | ||||
Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Troubled Debt Restructuring, Number of Contracts | 3 | ||||
Financing Receivable, Modifications, Recorded Investment | $ 241 |
Note 3 - Loans Receivable - Cla
Note 3 - Loans Receivable - Classifications of Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Loans | $ 434,501 | $ 418,991 | ||
Less allowance for loan losses | (3,700) | (3,636) | [1] | $ (3,298) |
Loans, net | 430,801 | 415,355 | [2] | |
Construction Loan Portfolio Segment [Member] | Residential [Member] | ||||
Loans | 9,990 | 10,204 | ||
Less allowance for loan losses | (61) | (63) | (83) | |
Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | ||||
Loans | 31,778 | 27,480 | ||
Less allowance for loan losses | (204) | (173) | (187) | |
Real Estate Portfolio Segment [Member] | Residential [Member] | ||||
Loans | 113,434 | 111,626 | ||
Less allowance for loan losses | (815) | (866) | (1,047) | |
Real Estate Portfolio Segment [Member] | Commercial [Member] | ||||
Loans | 180,121 | 172,248 | ||
Less allowance for loan losses | (1,739) | (1,516) | (1,001) | |
Commercial Industrial And Agricultural Portfolio Segment Excluding Overdrafts [Member] | ||||
Loans | 61,404 | 59,702 | ||
Equity Lines Portfolio Segment [Member] | ||||
Loans | 30,519 | 29,956 | ||
Less allowance for loan losses | (281) | (338) | (277) | |
Consumer Portfolio Segment [Member] | ||||
Loans | 7,200 | 7,668 | ||
Less allowance for loan losses | (97) | (97) | $ (85) | |
Overdrafts Portfolio Segment [Member] | ||||
Loans | $ 55 | $ 107 | ||
[1] | Derived from consolidated audited financial statements. | |||
[2] | Derived from consolidated audited financial statements. |
Note 3 - Loans Receivable - Pas
Note 3 - Loans Receivable - Past Due and Non-accrual Status of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans, nonaccrual loans | $ 3,352 | $ 924 |
Loans, past due | 3,445 | 1,926 |
Loans, current | 431,056 | 417,065 |
Loans | 434,501 | 418,991 |
Construction Loan Portfolio Segment [Member] | Residential [Member] | ||
Loans, nonaccrual loans | ||
Loans, past due | ||
Loans, current | 9,990 | 10,204 |
Loans | 9,990 | 10,204 |
Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | ||
Loans, nonaccrual loans | ||
Loans, past due | 241 | |
Loans, current | 31,537 | 27,480 |
Loans | 31,778 | 27,480 |
Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Loans, nonaccrual loans | 577 | 577 |
Loans, past due | 1,950 | 1,442 |
Loans, current | 111,484 | 110,184 |
Loans | 113,434 | 111,626 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Loans, nonaccrual loans | 2,748 | 336 |
Loans, past due | 817 | 115 |
Loans, current | 179,304 | 172,133 |
Loans | 180,121 | 172,248 |
Commercial Industrial and Agricultural Portfolio Segment [Member] | ||
Loans, nonaccrual loans | 27 | 11 |
Loans, past due | 71 | 93 |
Loans, current | 61,388 | 59,716 |
Loans | 61,459 | 59,809 |
Equity Lines Portfolio Segment [Member] | ||
Loans, nonaccrual loans | ||
Loans, past due | 329 | 258 |
Loans, current | 30,190 | 29,698 |
Loans | 30,519 | 29,956 |
Consumer Portfolio Segment [Member] | ||
Loans, nonaccrual loans | ||
Loans, past due | 37 | 18 |
Loans, current | 7,163 | 7,650 |
Loans | 7,200 | 7,668 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 2,541 | 1,113 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loan Portfolio Segment [Member] | Residential [Member] | ||
Loans, past due | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | ||
Loans, past due | 241 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Loans, past due | 1,183 | 672 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Loans, past due | 817 | 115 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Industrial and Agricultural Portfolio Segment [Member] | ||
Loans, past due | 45 | 60 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Equity Lines Portfolio Segment [Member] | ||
Loans, past due | 225 | 258 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans, past due | 30 | 8 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 310 | 232 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loan Portfolio Segment [Member] | Residential [Member] | ||
Loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | ||
Loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Loans, past due | 190 | 193 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Industrial and Agricultural Portfolio Segment [Member] | ||
Loans, past due | 16 | 33 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Equity Lines Portfolio Segment [Member] | ||
Loans, past due | 104 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans, past due | 6 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 594 | 581 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loan Portfolio Segment [Member] | Residential [Member] | ||
Loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | ||
Loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Loans, past due | 577 | 577 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Industrial and Agricultural Portfolio Segment [Member] | ||
Loans, past due | 10 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Equity Lines Portfolio Segment [Member] | ||
Loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans, past due | $ 7 | $ 4 |
Note 3 - Loans Receivable - Imp
Note 3 - Loans Receivable - Impaired Loans (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Loans with a related allowance, interest income recognized | ||
Loans with no related allowance, recorded investment in loans | 7,387 | 7,161 |
Loans with no related allowance, unpaid principal balance | 7,563 | 7,337 |
Loans with no related allowance, average balance total loans | 7,849 | 7,161 |
Loans with no related allowance, interest income recognized | 91 | 244 |
Loans with a related allowance, recorded investment in loans | 108 | 115 |
Loans with a related allowance, unpaid principal balance | 108 | 115 |
Related Allowance | 17 | 17 |
Loans with a related allowance, average balance total loans | 112 | 122 |
Construction Loan Portfolio Segment [Member] | Residential [Member] | ||
Loans with a related allowance, interest income recognized | ||
Loans with no related allowance, recorded investment in loans | ||
Loans with no related allowance, unpaid principal balance | ||
Loans with no related allowance, average balance total loans | ||
Loans with no related allowance, interest income recognized | ||
Loans with a related allowance, recorded investment in loans | ||
Loans with a related allowance, unpaid principal balance | ||
Related Allowance | ||
Loans with a related allowance, average balance total loans | ||
Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | ||
Loans with a related allowance, interest income recognized | ||
Loans with no related allowance, recorded investment in loans | ||
Loans with no related allowance, unpaid principal balance | ||
Loans with no related allowance, average balance total loans | ||
Loans with no related allowance, interest income recognized | ||
Loans with a related allowance, recorded investment in loans | ||
Loans with a related allowance, unpaid principal balance | ||
Related Allowance | ||
Loans with a related allowance, average balance total loans | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Loans with a related allowance, interest income recognized | ||
Loans with no related allowance, recorded investment in loans | 767 | 770 |
Loans with no related allowance, unpaid principal balance | 767 | 770 |
Loans with no related allowance, average balance total loans | 768 | 629 |
Loans with no related allowance, interest income recognized | 11 | (11) |
Loans with a related allowance, recorded investment in loans | ||
Loans with a related allowance, unpaid principal balance | ||
Related Allowance | ||
Loans with a related allowance, average balance total loans | ||
Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Loans with a related allowance, interest income recognized | ||
Loans with no related allowance, recorded investment in loans | 6,593 | 6,380 |
Loans with no related allowance, unpaid principal balance | 6,769 | 6,556 |
Loans with no related allowance, average balance total loans | 7,053 | 6,521 |
Loans with no related allowance, interest income recognized | 80 | 255 |
Loans with a related allowance, recorded investment in loans | 108 | 115 |
Loans with a related allowance, unpaid principal balance | 108 | 115 |
Related Allowance | 17 | 17 |
Loans with a related allowance, average balance total loans | 112 | 122 |
Commercial Industrial and Agricultural Portfolio Segment [Member] | ||
Loans with a related allowance, interest income recognized | ||
Loans with no related allowance, recorded investment in loans | 27 | 11 |
Loans with no related allowance, unpaid principal balance | 27 | 11 |
Loans with no related allowance, average balance total loans | 28 | 11 |
Loans with no related allowance, interest income recognized | ||
Loans with a related allowance, recorded investment in loans | ||
Loans with a related allowance, unpaid principal balance | ||
Related Allowance | ||
Loans with a related allowance, average balance total loans | ||
Equity Lines Portfolio Segment [Member] | ||
Loans with a related allowance, interest income recognized | ||
Loans with no related allowance, recorded investment in loans | ||
Loans with no related allowance, unpaid principal balance | ||
Loans with no related allowance, average balance total loans | ||
Loans with no related allowance, interest income recognized | ||
Loans with a related allowance, recorded investment in loans | ||
Loans with a related allowance, unpaid principal balance | ||
Related Allowance | ||
Loans with a related allowance, average balance total loans | ||
Consumer Portfolio Segment [Member] | ||
Loans with a related allowance, interest income recognized | ||
Loans with no related allowance, recorded investment in loans | ||
Loans with no related allowance, unpaid principal balance | ||
Loans with no related allowance, average balance total loans | ||
Loans with no related allowance, interest income recognized | ||
Loans with a related allowance, recorded investment in loans | ||
Loans with a related allowance, unpaid principal balance | ||
Related Allowance | ||
Loans with a related allowance, average balance total loans |
Note 3 - Loans Receivable - Loa
Note 3 - Loans Receivable - Loans Modified in TDR by Class of Loan (Details) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017USD ($) | Jun. 30, 2016 | Dec. 31, 2015 | |
Pre-modification outstanding recorded investment | $ 229 | ||
Post-modification outstanding recorded investment | $ 247 | ||
Number of contracts | 1 | 0 | 2 |
Construction Loan Portfolio Segment [Member] | Residential [Member] | |||
Pre-modification outstanding recorded investment | |||
Post-modification outstanding recorded investment | |||
Number of contracts | |||
Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | |||
Pre-modification outstanding recorded investment | |||
Post-modification outstanding recorded investment | |||
Number of contracts | |||
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Pre-modification outstanding recorded investment | |||
Post-modification outstanding recorded investment | |||
Number of contracts | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Pre-modification outstanding recorded investment | $ 218 | ||
Post-modification outstanding recorded investment | $ 218 | ||
Number of contracts | 1 | ||
Commercial Industrial and Agricultural Portfolio Segment [Member] | |||
Pre-modification outstanding recorded investment | $ 11 | ||
Post-modification outstanding recorded investment | $ 29 | ||
Number of contracts | |||
Equity Lines Portfolio Segment [Member] | |||
Pre-modification outstanding recorded investment | |||
Post-modification outstanding recorded investment | |||
Number of contracts | |||
Consumer Portfolio Segment [Member] | |||
Pre-modification outstanding recorded investment | |||
Post-modification outstanding recorded investment | |||
Number of contracts |
Note 4 - Allowance for Loan L36
Note 4 - Allowance for Loan Losses (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans and Leases Receivable, Gross | $ 434,501 | $ 418,991 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Doubtful [Member] | ||
Loans and Leases Receivable, Gross | $ 0 | $ 0 |
Note 4 - Allowance for Loan L37
Note 4 - Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |||
Allowance for loan losses: collectively evaluated for impairment | $ 3,683 | $ 3,683 | $ 3,619 | ||||
Loans | 434,501 | 434,501 | 418,991 | ||||
Loans: individually evaluated for impairment | 7,495 | 7,495 | 7,276 | ||||
Loans: collectively evaluated for impairment | 427,006 | 427,006 | 411,715 | ||||
Allowance for loan losses, beginning balance | 3,636 | [1] | $ 3,298 | 3,298 | |||
Allowance for loan losses, charge- offs | (526) | (848) | |||||
Allowance for loan losses, recoveries | 55 | 104 | |||||
Allowance for loan losses, provisions | 465 | $ 808 | 535 | 868 | 1,082 | ||
Allowance for loan losses, ending balance | 3,700 | 3,700 | 3,636 | [1] | |||
Allowance for loan losses: individually evaluated for impairment | 17 | 17 | 17 | ||||
Construction Loan Portfolio Segment [Member] | Residential [Member] | |||||||
Allowance for loan losses: collectively evaluated for impairment | 61 | 61 | 63 | ||||
Loans | 9,990 | 9,990 | 10,204 | ||||
Loans: individually evaluated for impairment | |||||||
Loans: collectively evaluated for impairment | 9,990 | 9,990 | 10,204 | ||||
Allowance for loan losses, beginning balance | 63 | 83 | 83 | ||||
Allowance for loan losses, charge- offs | |||||||
Allowance for loan losses, recoveries | |||||||
Allowance for loan losses, provisions | (2) | (20) | |||||
Allowance for loan losses, ending balance | 61 | 61 | 63 | ||||
Allowance for loan losses: individually evaluated for impairment | |||||||
Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | |||||||
Allowance for loan losses: collectively evaluated for impairment | 204 | 204 | 173 | ||||
Loans | 31,778 | 31,778 | 27,480 | ||||
Loans: individually evaluated for impairment | |||||||
Loans: collectively evaluated for impairment | 31,778 | 31,778 | 27,480 | ||||
Allowance for loan losses, beginning balance | 173 | 187 | 187 | ||||
Allowance for loan losses, charge- offs | (2) | ||||||
Allowance for loan losses, recoveries | |||||||
Allowance for loan losses, provisions | 31 | (12) | |||||
Allowance for loan losses, ending balance | 204 | 204 | 173 | ||||
Allowance for loan losses: individually evaluated for impairment | |||||||
Real Estate Portfolio Segment [Member] | Residential [Member] | |||||||
Allowance for loan losses: collectively evaluated for impairment | 815 | 815 | 866 | ||||
Loans | 113,434 | 113,434 | 111,626 | ||||
Loans: individually evaluated for impairment | 767 | 767 | 770 | ||||
Loans: collectively evaluated for impairment | 112,667 | 112,667 | 110,856 | ||||
Allowance for loan losses, beginning balance | 866 | 1,047 | 1,047 | ||||
Allowance for loan losses, charge- offs | (4) | ||||||
Allowance for loan losses, recoveries | 45 | ||||||
Allowance for loan losses, provisions | (51) | (222) | |||||
Allowance for loan losses, ending balance | 815 | 815 | 866 | ||||
Allowance for loan losses: individually evaluated for impairment | |||||||
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||||||
Allowance for loan losses: collectively evaluated for impairment | 1,722 | 1,722 | 1,499 | ||||
Loans | 180,121 | 180,121 | 172,248 | ||||
Loans: individually evaluated for impairment | 6,701 | 6,701 | 6,495 | ||||
Loans: collectively evaluated for impairment | 173,420 | 173,420 | 165,753 | ||||
Allowance for loan losses, beginning balance | 1,516 | 1,001 | 1,001 | ||||
Allowance for loan losses, charge- offs | (430) | (606) | |||||
Allowance for loan losses, recoveries | 38 | ||||||
Allowance for loan losses, provisions | 615 | 1,121 | |||||
Allowance for loan losses, ending balance | 1,739 | 1,739 | 1,516 | ||||
Allowance for loan losses: individually evaluated for impairment | 17 | 17 | 17 | ||||
Commercial Industrial and Agricultural Portfolio Segment [Member] | |||||||
Allowance for loan losses: collectively evaluated for impairment | 473 | 473 | 461 | ||||
Loans | 61,459 | 61,459 | 59,809 | ||||
Loans: individually evaluated for impairment | 27 | 27 | 11 | ||||
Loans: collectively evaluated for impairment | 61,432 | 61,432 | 59,798 | ||||
Allowance for loan losses, beginning balance | 461 | 531 | 531 | ||||
Allowance for loan losses, charge- offs | (57) | (34) | |||||
Allowance for loan losses, recoveries | |||||||
Allowance for loan losses, provisions | 69 | (36) | |||||
Allowance for loan losses, ending balance | 473 | 473 | 461 | ||||
Allowance for loan losses: individually evaluated for impairment | |||||||
Equity Lines Portfolio Segment [Member] | |||||||
Allowance for loan losses: collectively evaluated for impairment | 281 | 281 | 338 | ||||
Loans | 30,519 | 30,519 | 29,956 | ||||
Loans: individually evaluated for impairment | |||||||
Loans: collectively evaluated for impairment | 30,519 | 30,519 | 29,956 | ||||
Allowance for loan losses, beginning balance | 338 | 277 | 277 | ||||
Allowance for loan losses, charge- offs | (99) | ||||||
Allowance for loan losses, recoveries | 10 | ||||||
Allowance for loan losses, provisions | (57) | 150 | |||||
Allowance for loan losses, ending balance | 281 | 281 | 338 | ||||
Allowance for loan losses: individually evaluated for impairment | |||||||
Consumer Portfolio Segment [Member] | |||||||
Allowance for loan losses: collectively evaluated for impairment | 97 | 97 | 97 | ||||
Loans | 7,200 | 7,200 | 7,668 | ||||
Loans: individually evaluated for impairment | |||||||
Loans: collectively evaluated for impairment | 7,200 | 7,200 | 7,668 | ||||
Allowance for loan losses, beginning balance | 97 | 85 | 85 | ||||
Allowance for loan losses, charge- offs | (39) | (103) | |||||
Allowance for loan losses, recoveries | 17 | 49 | |||||
Allowance for loan losses, provisions | 22 | 66 | |||||
Allowance for loan losses, ending balance | 97 | 97 | 97 | ||||
Allowance for loan losses: individually evaluated for impairment | |||||||
Unallocated Financing Receivables [Member] | |||||||
Allowance for loan losses: collectively evaluated for impairment | 30 | 30 | 122 | ||||
Loans | |||||||
Loans: individually evaluated for impairment | |||||||
Loans: collectively evaluated for impairment | |||||||
Allowance for loan losses, beginning balance | 122 | $ 87 | 87 | ||||
Allowance for loan losses, charge- offs | |||||||
Allowance for loan losses, recoveries | |||||||
Allowance for loan losses, provisions | (92) | 35 | |||||
Allowance for loan losses, ending balance | 30 | 30 | 122 | ||||
Allowance for loan losses: individually evaluated for impairment | |||||||
[1] | Derived from consolidated audited financial statements. |
Note 4 - Allowance for Loan L38
Note 4 - Allowance for Loan Losses - Loans by Credit Quality Indicators (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans | $ 434,501 | $ 418,991 |
Pass [Member] | ||
Loans | 429,800 | 416,653 |
Special Mention [Member] | ||
Loans | 83 | 78 |
Substandard [Member] | ||
Loans | 1,266 | 1,336 |
Substandard Nonaccrual [Member] | ||
Loans | 3,352 | 924 |
Construction Loan Portfolio Segment [Member] | Residential [Member] | ||
Loans | 9,990 | 10,204 |
Construction Loan Portfolio Segment [Member] | Residential [Member] | Pass [Member] | ||
Loans | 9,990 | 10,204 |
Construction Loan Portfolio Segment [Member] | Residential [Member] | Special Mention [Member] | ||
Loans | ||
Construction Loan Portfolio Segment [Member] | Residential [Member] | Substandard [Member] | ||
Loans | ||
Construction Loan Portfolio Segment [Member] | Residential [Member] | Substandard Nonaccrual [Member] | ||
Loans | ||
Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | ||
Loans | 31,778 | 27,480 |
Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | Pass [Member] | ||
Loans | 31,778 | 27,480 |
Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | Special Mention [Member] | ||
Loans | ||
Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | Substandard [Member] | ||
Loans | ||
Construction Loan Portfolio Segment [Member] | Land Acquisition Development And Commercial [Member] | Substandard Nonaccrual [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Loans | 113,434 | 111,626 |
Real Estate Portfolio Segment [Member] | Residential [Member] | Pass [Member] | ||
Loans | 112,667 | 110,856 |
Real Estate Portfolio Segment [Member] | Residential [Member] | Special Mention [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | Substandard [Member] | ||
Loans | 190 | 193 |
Real Estate Portfolio Segment [Member] | Residential [Member] | Substandard Nonaccrual [Member] | ||
Loans | 577 | 577 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Loans | 180,121 | 172,248 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Pass [Member] | ||
Loans | 176,840 | 171,369 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Special Mention [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Substandard [Member] | ||
Loans | 533 | 543 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Substandard Nonaccrual [Member] | ||
Loans | 2,748 | 336 |
Commercial Industrial and Agricultural Portfolio Segment [Member] | ||
Loans | 61,459 | 59,809 |
Commercial Industrial and Agricultural Portfolio Segment [Member] | Pass [Member] | ||
Loans | 60,806 | 59,120 |
Commercial Industrial and Agricultural Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 83 | 78 |
Commercial Industrial and Agricultural Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 543 | 600 |
Commercial Industrial and Agricultural Portfolio Segment [Member] | Substandard Nonaccrual [Member] | ||
Loans | 27 | 11 |
Equity Lines Portfolio Segment [Member] | ||
Loans | 30,519 | 29,956 |
Equity Lines Portfolio Segment [Member] | Pass [Member] | ||
Loans | 30,519 | 29,956 |
Equity Lines Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Equity Lines Portfolio Segment [Member] | Substandard [Member] | ||
Loans | ||
Equity Lines Portfolio Segment [Member] | Substandard Nonaccrual [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | ||
Loans | 7,200 | 7,668 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 7,200 | 7,668 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Substandard Nonaccrual [Member] | ||
Loans |
Note 5 - Other Real Estate Ow39
Note 5 - Other Real Estate Owned (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 0 | $ 0 |
Note 5 - Other Real Estate Ow40
Note 5 - Other Real Estate Owned - Foreclosed Properties Valuation Allowance (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | ||
Other Real Estate Owned, balance at the beginning of the year | $ 4,619 | $ 5,657 | |
Other Real Estate Owned, Additions | 473 | ||
Other Real Estate Owned, Sales | (1,262) | (1,373) | |
Other Real Estate Owned, balance at the end of the year | 3,357 | 4,757 | |
Valuation Allowance, balance at the beginning of the year | (825) | [1] | (420) |
Valuation Allowance, Writedowns | (380) | ||
Valuation Allowance, Sales | 616 | ||
Valuation Allowance, balance at the end of the year | (589) | (420) | |
Balance at the beginning of the year, net | 3,794 | [2] | 5,237 |
Additions, Net | 473 | ||
Writedowns, Net | (380) | ||
Sales, Net | (646) | (1,373) | |
Balance at the end of the year, net | $ 2,768 | $ 4,337 | |
[1] | Derived from consolidated audited financial statements. | ||
[2] | Derived from consolidated audited financial statements. |
Note 5 - Other Real Estate Ow41
Note 5 - Other Real Estate Owned - Classification of Other Real Estate Owned and Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Other Real Estate Owned | $ 2,768 | $ 4,337 | $ 2,768 | $ 4,337 | $ 3,794 | [1] | $ 5,237 |
Net loss on sales | 91 | 91 | |||||
Provision for unrealized losses | 380 | 380 | |||||
Operating expenses | 24 | 25 | 37 | 47 | |||
Total Other Real Estate Owned | 404 | $ 116 | 417 | $ 138 | |||
Residential Lots [Member] | |||||||
Other Real Estate Owned | 2,187 | 2,187 | 2,234 | ||||
Residential Development [Member] | |||||||
Other Real Estate Owned | 43 | 43 | 423 | ||||
Commercial Lots [Member] | |||||||
Other Real Estate Owned | 90 | 90 | 90 | ||||
Commercial Buildings [Member] | |||||||
Other Real Estate Owned | $ 448 | $ 448 | $ 1,047 | ||||
[1] | Derived from consolidated audited financial statements. |
Note 6 - Stock Based Compensa42
Note 6 - Stock Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jul. 11, 2016 | Jun. 11, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | |||||
Allocated Share-based Compensation Expense | $ 73 | $ 75 | |||||
Dividends, Common Stock, Stock, Percentge | 4.00% | 4.00% | |||||
Employee Stock Option [Member] | |||||||
Allocated Share-based Compensation Expense | 36 | 40 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 176 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 182 days | ||||||
Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||
Allocated Share-based Compensation Expense | $ 37 | $ 35 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 8,258 | 11,149 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 9.87 | $ 9.09 | [1] | $ 9.09 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 209 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 5,280 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 137,280 | 132,000 | |||||
[1] | Restated for the 4% stock dividend distributed July 11, 2016. |
Note 6 - Stock Based Compensa43
Note 6 - Stock Based Compensation - Stock Option Activity (Details) - 2005 Stock Option Plan [Member] | 6 Months Ended | |
Jun. 30, 2017USD ($)$ / sharesshares | ||
Beginning balance, options outstanding (in shares) | shares | 201,000 | |
Beginning balance, weighted average exercise price (in dollars per share) | $ / shares | $ 7.80 | |
Exercised, options outstanding (in shares) | shares | (2,000) | |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 6.90 | |
Expired, options outstanding (in shares) | shares | ||
Ending balance, weighted average exercise price (in dollars per share) | $ / shares | $ 7.81 | |
Balance, aggregate intrinsic value | $ | $ 605,017 | [1] |
Expired, weighted average exercise price (in dollars per share) | $ / shares | ||
Forfeited, options outstanding (in shares) | shares | ||
Forfeited, weighted average exercise price (in dollars per share) | $ / shares | ||
Ending balance, options outstanding (in shares) | shares | 199,000 | |
Balance, weighted average contractual term (Year) | 6 years | |
Exercisable, options outstanding (in shares) | shares | 107,200 | |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 8.59 | |
Exercisable, aggregate intrinsic value | $ | $ 251,577 | [1] |
Exercisable, weighted average contractual term (Year) | 4 years 266 days | |
[1] | The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on June 30, 2017. |
Note 6 - Stock Based Compensa44
Note 6 - Stock Based Compensation - Restricted Stock Awards Activity (Details) - Restricted Stock [Member] - $ / shares | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |||
Nonvested at beginning of year, weighted-average grant date fair value (in dollars per share) | $ 7.03 | $ 6 | [1] | $ 6 | [1] |
Nonvested at beginning of year, shares (in shares) | 31,546 | 39,352 | 39,352 | ||
Nonvested at the end of the period, weighted-average grant date fair value (in dollars per share) | $ 8.23 | $ 7.06 | [1] | $ 7.03 | |
Forfeited, weighted-average grant date fair value (in dollars per share) | $ 6.99 | ||||
Granted, shares (in shares) | 8,258 | 11,149 | |||
Granted, weighted-average grant date fair value (in dollars per share) | $ 9.87 | $ 9.09 | [1] | $ 9.09 | |
Vested, shares (in shares) | (11,125) | (11,371) | |||
Vested, weighted-average grant date fair value (in dollars per share) | $ 6.03 | $ 5.44 | [1] | ||
Forfeited, shares (in shares) | (6,788) | ||||
Nonvested at the end of the period, shares (in shares) | 28,679 | 32,342 | 31,546 | ||
[1] | Restated for the 4% stock dividend distributed July 11, 2016. |
Note 7 - Fair Value Measureme45
Note 7 - Fair Value Measurement (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Liabilities, Fair Value Disclosure, Nonrecurring | $ 0 | $ 0 |
Minimum [Member] | ||
Federal Funds Maturity | 1 day | |
Maximum [Member] | ||
Federal Funds Maturity | 3 days |
Note 7 - Fair Value Measureme46
Note 7 - Fair Value Measurement - Fair Value of Financial Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Available-for-sale securities | $ 48,665 | $ 52,975 | [1] |
US Government Agencies Debt Securities [Member] | |||
Available-for-sale securities | 11,245 | 12,444 | |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale securities | 11,245 | 12,444 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Available-for-sale securities | 19,744 | 19,768 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale securities | 19,744 | 19,768 | |
Corporate Debt Securities [Member] | |||
Available-for-sale securities | 4,605 | 5,066 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale securities | 4,605 | 5,066 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available-for-sale securities | 13,071 | 15,697 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale securities | $ 13,071 | $ 15,697 | |
[1] | Derived from consolidated audited financial statements. |
Note 7 - Fair Value Measureme47
Note 7 - Fair Value Measurement - Fair Value of Financial Assets and Liabilities Measure on Non-recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Impaired loans, net of valuation allowance | $ 91 | $ 98 | |||
Loans held for sale | 1,108 | 678 | [1] | ||
Other real estate owned | 2,768 | 3,794 | [1] | $ 4,337 | $ 5,237 |
Fair Value, Inputs, Level 2 [Member] | |||||
Impaired loans, net of valuation allowance | |||||
Loans held for sale | 1,108 | 678 | |||
Other real estate owned | |||||
Fair Value, Inputs, Level 3 [Member] | |||||
Impaired loans, net of valuation allowance | 91 | 98 | |||
Loans held for sale | |||||
Other real estate owned | $ 2,768 | $ 3,794 | |||
[1] | Derived from consolidated audited financial statements. |
Note 7 - Fair Value Measureme48
Note 7 - Fair Value Measurement - Fair Value Quantitative Information (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Impaired Loans [Member] | Discounted Appraised Value [Member] | ||
Impaired loans | $ 91 | $ 98 |
Impaired Loans [Member] | Discounted Appraised Value [Member] | Minimum [Member] | ||
Fair value measurements, range | 6.00% | 6.00% |
Impaired Loans [Member] | Discounted Appraised Value [Member] | Maximum [Member] | ||
Fair value measurements, range | 6.00% | 6.00% |
Impaired Loans [Member] | Discounted Appraised Value [Member] | Weighted Average [Member] | ||
Fair value measurements, range | 6.00% | 6.00% |
Other Real Estate Owned [Member] | Discounted Appraised Value [Member] | ||
Nonrecurring assets | $ 1,513 | $ 1,560 |
Other Real Estate Owned [Member] | Discounted Appraised Value [Member] | Minimum [Member] | ||
Fair value measurements, range | 6.00% | 6.00% |
Fair value measurements, range | 4.00% | 4.00% |
Other Real Estate Owned [Member] | Discounted Appraised Value [Member] | Maximum [Member] | ||
Fair value measurements, range | 6.00% | 6.00% |
Fair value measurements, range | 12.00% | 12.00% |
Other Real Estate Owned [Member] | Discounted Appraised Value [Member] | Weighted Average [Member] | ||
Fair value measurements, range | 6.00% | 6.00% |
Fair value measurements, range | 10.00% | 10.00% |
Other Real Estate Owned [Member] | Internal Evaluations [Member] | ||
Nonrecurring assets | $ 1,255 | $ 2,234 |
Other Real Estate Owned [Member] | Internal Evaluations [Member] | Minimum [Member] | ||
Fair value measurements, range | 3.00% | 4.00% |
Other Real Estate Owned [Member] | Internal Evaluations [Member] | Maximum [Member] | ||
Fair value measurements, range | 90.00% | 54.00% |
Other Real Estate Owned [Member] | Internal Evaluations [Member] | Weighted Average [Member] | ||
Fair value measurements, range | 19.00% | 24.00% |
Note 7 - Fair Value Measureme49
Note 7 - Fair Value Measurement - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Financial assets | |||
Securities available for sale | $ 48,665 | $ 52,975 | [1] |
Reported Value Measurement [Member] | |||
Financial assets | |||
Cash and due from banks | 37,618 | 18,229 | |
Federal funds sold | 93 | 42 | |
Securities available for sale | 48,665 | 52,975 | |
Restricted equity securities | 2,371 | 2,213 | |
Loans held for sale | 1,108 | 678 | |
Loans, net | 430,801 | 415,355 | |
Bank owned life insurance | 7,566 | 7,469 | |
Accrued income | 2,451 | 2,289 | |
Financial liabilities | |||
Other borrowings | 1,100 | 1,117 | |
Accrued interest payable | 413 | 386 | |
Total deposits | 476,356 | 450,848 | |
FHLB borrowings | 11,694 | 8,000 | |
Subordinated notes | 7,239 | 7,224 | |
Estimate of Fair Value Measurement [Member] | |||
Financial assets | |||
Cash and due from banks | 37,618 | 18,239 | |
Federal funds sold | 93 | 42 | |
Securities available for sale | 48,665 | 52,975 | |
Restricted equity securities | 2,371 | 2,213 | |
Loans held for sale | 1,108 | 678 | |
Loans, net | 431,796 | 415,039 | |
Bank owned life insurance | 7,566 | 7,469 | |
Accrued income | 2,451 | 2,289 | |
Financial liabilities | |||
Other borrowings | 1,100 | 1,117 | |
Accrued interest payable | 413 | 386 | |
Total deposits | 476,637 | 451,385 | |
FHLB borrowings | 11,691 | 8,031 | |
Subordinated notes | 8,024 | 8,012 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Financial assets | |||
Cash and due from banks | 37,618 | 17,479 | |
Federal funds sold | 93 | 42 | |
Securities available for sale | |||
Restricted equity securities | |||
Loans held for sale | |||
Loans, net | |||
Bank owned life insurance | |||
Accrued income | |||
Financial liabilities | |||
Other borrowings | |||
Accrued interest payable | |||
Total deposits | |||
FHLB borrowings | |||
Subordinated notes | |||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Financial assets | |||
Cash and due from banks | 760 | ||
Federal funds sold | |||
Securities available for sale | 48,665 | 52,975 | |
Restricted equity securities | 2,371 | 2,213 | |
Loans held for sale | 1,108 | 678 | |
Loans, net | |||
Bank owned life insurance | 7,566 | 7,469 | |
Accrued income | 2,451 | 2,289 | |
Financial liabilities | |||
Other borrowings | 1,100 | 1,117 | |
Accrued interest payable | 413 | 386 | |
Total deposits | 476,637 | 451,385 | |
FHLB borrowings | 11,691 | 8,031 | |
Subordinated notes | 8,024 | 8,012 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Financial assets | |||
Cash and due from banks | |||
Federal funds sold | |||
Securities available for sale | |||
Restricted equity securities | |||
Loans held for sale | |||
Loans, net | 431,796 | 415,039 | |
Bank owned life insurance | |||
Accrued income | |||
Financial liabilities | |||
Other borrowings | |||
Accrued interest payable | |||
Total deposits | |||
FHLB borrowings | |||
Subordinated notes | |||
[1] | Derived from consolidated audited financial statements. |
Note 8 - Reclassifications Ou50
Note 8 - Reclassifications Out of Other Comprehensive Income - Items Reclassified to Net Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
$ 434 | $ 224 | $ 1,199 | $ 1,025 | |
Tax expense related to realized gains on securities sold | 176 | 434 | 518 | 787 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
19 | 138 | 28 | 141 | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Realized gains on sales of securities held for sale during the period consider available for sale | 29 | 209 | 42 | 214 |
Tax expense related to realized gains on securities sold | $ 10 | $ 71 | $ 14 | $ 73 |
Note 9 - Earnings Per Common 51
Note 9 - Earnings Per Common Share (Details Textual) - shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 33,000 | 49,500 |
Note 9 - Earnings Per Common 52
Note 9 - Earnings Per Common Share - Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |||
Convertible preferred stock (in dollars per share) | [1] | $ (0.08) | [1] | |||
Dilutive stock options (in shares) | 21,235 | 9,056 | 21,235 | 9,056 | ||
Earnings per common share, diluted (in shares) | 5,789,905 | 5,780,122 | [1] | 5,787,276 | 5,776,832 | [1] |
Earnings per common share, diluted | $ 434 | $ 20 | $ 1,199 | $ 617 | ||
Earnings per common share, diluted (in dollars per share) | $ 0.08 | $ 0 | [1] | $ 0.21 | $ 0.11 | [1] |
Earnings per common share, basic (in shares) | 5,768,670 | 3,557,763 | [1] | 5,766,041 | 3,529,605 | [1] |
Earnings per common share, basic | $ 434 | $ 20 | $ 1,199 | $ 617 | ||
Earnings per common share, basic (in dollars per share) | $ 0.08 | $ 0 | [1] | $ 0.21 | $ 0.17 | [1] |
Series C Preferred Stock Dividends | $ 204 | $ 408 | ||||
Convertible preferred stock (in shares) | 2,213,303 | [1] | 2,238,171 | [1] | ||
[1] | Restated for 4% common stock dividend distributed July 11, 2016. |