Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 08, 2017 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | County Bancorp, Inc. | |
Entity Central Index Key | 1,470,205 | |
Trading Symbol | ICBK | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Entity Common Stock, Shares Outstanding | 6,673,381 |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 71,795 | $ 42,679 |
Securities available-for-sale, at fair value | 107,242 | 123,437 |
FHLB Stock, at cost | 4,309 | 5,688 |
Loans held for sale | 2,054 | 1,162 |
Loans, net of allowance for loan losses of $13,625 as of September 30, 2017; $12,645 as of December 31, 2016 | 1,112,976 | 1,017,841 |
Premises and equipment, net | 9,598 | 9,819 |
Loan servicing rights | 8,986 | 9,264 |
Other real estate owned, net | 6,974 | 3,161 |
Cash surrender value of bank owned life insurance | 17,274 | 11,448 |
Deferred tax asset, net | 5,218 | 5,486 |
Goodwill | 5,038 | 5,038 |
Accrued interest receivable and other assets | 6,823 | 6,206 |
Total assets | 1,359,325 | 1,242,670 |
Deposits: | ||
Noninterest-bearing | 118,815 | 118,657 |
Interest-bearing | 947,279 | 858,861 |
Total deposits | 1,066,094 | 977,518 |
Other borrowings | 1,352 | 2,152 |
Advances from FHLB | 128,300 | 107,895 |
Subordinated debentures | 15,506 | 15,451 |
Accrued interest payable and other liabilities | 8,344 | 8,366 |
Total liabilities | 1,219,596 | 1,111,382 |
SHAREHOLDERS' EQUITY | ||
Preferred stock-variable rate, non-cumulative, nonparticipating, $1,000 stated value; 15,000 shares authorized; 8,000 shares issued at September 30, 2017 and December 31, 2016 | 8,000 | 8,000 |
Common stock - $0.01 par value; 50,000,000 authorized; 7,074,020 shares issued and 6,657,601 shares outstanding at September 30, 2017; 7,018,248 shares issued and 6,586,335 shares outstanding at December 31, 2016 | 27 | 26 |
Surplus | 51,806 | 50,553 |
Retained earnings | 84,751 | 77,907 |
Treasury stock, at cost; 432,861 shares at September 30, 2017; 431,913 shares at December 31, 2016 | (4,828) | (4,828) |
Accumulated other comprehensive loss | (27) | (370) |
Total shareholders' equity | 139,729 | 131,288 |
Total liabilities and shareholders' equity | 1,359,325 | 1,242,670 |
Core Deposit | ||
ASSETS | ||
Core deposit intangible, net of accumulated amortization of $403 as of September 30, 2017; $360 as of December 31, 2016 | $ 1,038 | $ 1,441 |
CONSOLIDATED BALANCE SHEETS (U3
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Allowance for loan losses | $ 13,625 | $ 12,645 |
Preferred Stock, stated value | $ 1,000 | $ 1,000 |
Preferred Stock, shares authorized | 15,000 | 15,000 |
Preferred Stock, shares issued | 8,000 | 8,000 |
Common Stock, par value | $ 0.01 | $ 0.01 |
Common Stock, shares authorized | 50,000,000 | 50,000,000 |
Common Stock, shares issued | 7,074,020 | 7,018,248 |
Common Stock, shares outstanding | 6,657,601 | 6,586,335 |
Treasury Stock, shares | 432,861 | 431,913 |
Core Deposit | ||
Core deposit intangible, amortization | $ 403 | $ 360 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans, including fees | $ 13,070 | $ 12,245 | $ 36,952 | $ 31,180 |
Taxable securities | 461 | 426 | 1,346 | 1,021 |
Tax-exempt securities | 82 | 84 | 262 | 283 |
Federal funds sold and other | 102 | 48 | 243 | 137 |
Total interest and dividend income | 13,715 | 12,803 | 38,803 | 32,621 |
INTEREST EXPENSE | ||||
Deposits | 3,108 | 2,100 | 8,351 | 5,907 |
FHLB advances and other borrowed funds | 511 | 408 | 1,356 | 1,043 |
Subordinated debentures | 135 | 119 | 380 | 254 |
Total interest expense | 3,754 | 2,627 | 10,087 | 7,204 |
Net interest income | 9,961 | 10,176 | 28,716 | 25,417 |
Provision for loan losses | 33 | 1,134 | 2,318 | 2,416 |
Net interest income after provision for loan losses | 9,928 | 9,042 | 26,398 | 23,001 |
NON-INTEREST INCOME | ||||
Services charges | 350 | 288 | 1,074 | 976 |
Gain on sale of loans, net | 47 | 79 | 96 | 240 |
Loan servicing fees | 1,563 | 1,458 | 4,038 | 5,037 |
Other | 127 | 189 | 451 | 456 |
Total non-interest income | 2,087 | 2,014 | 5,659 | 6,709 |
NON-INTEREST EXPENSE | ||||
Employee compensation and benefits | 3,845 | 3,461 | 11,735 | 9,554 |
Occupancy | 162 | 157 | 519 | 364 |
Information processing | 450 | 288 | 1,209 | 2,045 |
Write-down of other real estate owned | 7 | 250 | 85 | 334 |
Other | 1,827 | 1,949 | 5,279 | 5,852 |
Total non-interest expense | 6,291 | 6,105 | 18,827 | 18,149 |
Income before income taxes | 5,724 | 4,951 | 13,230 | 11,561 |
Income tax expense | 2,120 | 1,849 | 4,936 | 4,338 |
NET INCOME | $ 3,604 | $ 3,102 | $ 8,294 | $ 7,223 |
NET INCOME PER SHARE: | ||||
Basic | $ 0.53 | $ 0.46 | $ 1.21 | $ 1.13 |
Diluted | 0.52 | 0.46 | 1.19 | 1.12 |
Dividends paid per share | $ 0.06 | $ 0.05 | $ 0.18 | $ 0.15 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 3,604 | $ 3,102 | $ 8,294 | $ 7,223 |
Other comprehensive income: | ||||
Unrealized gains on securities available-for-sale | (16) | (308) | 563 | 1,204 |
Income tax expense | 6 | 120 | (220) | (470) |
Total other comprehensive income | (10) | (188) | 343 | 734 |
Comprehensive income | $ 3,594 | $ 2,914 | $ 8,637 | $ 7,957 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Total | SBLF | Fox River Valley | Preferred Stock | Common Stock | Common StockFox River Valley | Surplus | SurplusFox River Valley | Retained Earnings | Retained EarningsSBLF | Treasury Stock | Accumulated Other Comprehensive Income (Loss) |
Balance at Dec. 31, 2015 | $ 107,024 | $ 8,000 | $ 19 | $ 34,717 | $ 68,825 | $ (4,758) | $ 221 | |||||
Net income | 7,223 | 7,223 | ||||||||||
Other comprehensive income | 734 | 734 | ||||||||||
Stock compensation expense, net of tax | 295 | 295 | ||||||||||
Purchase of treasury stock | (70) | (70) | ||||||||||
Cash dividends declared on common stock | (941) | (941) | ||||||||||
Cash dividends declared on preferred stock | (240) | $ (21) | (240) | $ (21) | ||||||||
Shares issued in acquisition | $ 14,256 | $ 7 | $ 14,249 | |||||||||
Proceeds from exercise of common stock options | 534 | 534 | ||||||||||
Balance at Sep. 30, 2016 | 128,794 | 8,000 | 26 | 49,795 | 74,846 | (4,828) | 955 | |||||
Balance at Dec. 31, 2016 | 131,288 | 8,000 | 26 | 50,553 | 77,907 | (4,828) | (370) | |||||
Net income | 8,294 | 8,294 | ||||||||||
Other comprehensive income | 343 | 343 | ||||||||||
Stock compensation expense, net of tax | 393 | 393 | ||||||||||
Cash dividends declared on common stock | (1,194) | (1,194) | ||||||||||
Cash dividends declared on preferred stock | (256) | (256) | ||||||||||
Proceeds from exercise of common stock options | 861 | 1 | 860 | |||||||||
Balance at Sep. 30, 2017 | $ 139,729 | $ 8,000 | $ 27 | $ 51,806 | $ 84,751 | $ (4,828) | $ (27) |
CONSOLIDATED STATEMENTS OF STO7
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) | 9 Months Ended |
Sep. 30, 2016shares | |
Purchase of treasury stock, shares | 10,305 |
Options, exercised | 45,493 |
Fox River Valley | |
Acquisition of shares | 712,830 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash flows from operating activities | ||
Net income | $ 8,294,000 | $ 7,223,000 |
Adjustments to reconcile net income to cash provided by (used in) operating activities: | ||
Depreciation and amortization of premises and equipment | 744,000 | 726,000 |
Amortization of core deposit intangible | 403,000 | 211,000 |
Amortization of subordinated debentures | 55,000 | |
Provision for loan losses | 2,318,000 | 2,416,000 |
Realized loss on sale of securities available-for-sale | 37,000 | |
Realized gain on sales of other real estate owned | (363,000) | (121,000) |
Write-down of other real estate owned | 85,000 | 334,000 |
Realized gain (loss) on sales of premises and equipment | 290,000 | (13,000) |
Increase in cash surrender value of bank owned life insurance | (326,000) | (219,000) |
Deferred income tax expense | 45,000 | 459,000 |
Stock compensation expense, net | 393,000 | 295,000 |
Net amortization of securities | 685,000 | 637,000 |
Net change in: | ||
Accrued interest receivable and other assets | (617,000) | 1,511,000 |
Loans held for sale | (892,000) | 6,241,000 |
Loan servicing rights | 278,000 | (1,020,000) |
Accrued interest payable and other liabilities | (22,000) | 492,000 |
Net cash provided by operating activities | 11,407,000 | 19,172,000 |
Cash flows from investing activities | ||
Proceeds from maturities, principal repayments, and call of securities available for sale | 22,757,000 | 15,252,000 |
Purchases of securities available-for-sale | (10,108,000) | (6,764,000) |
Proceeds from sales of securities available-for-sale | 3,389,000 | 0 |
Redemption (purchases) of FHLB stock | 1,379,000 | (2,181,000) |
Purchases of bank owned life insurance | (5,500,000) | |
Loan originations and principal collections, net | (102,231,000) | (104,067,000) |
Proceeds from sales of premises and equipment | 1,615,000 | 25,000 |
Purchases of premises and equipment | (2,428,000) | (1,516,000) |
Proceeds from sales of other real estate owned | 1,244,000 | 2,471,000 |
Net cash provided by business combination | 12,320,000 | |
Net cash used in investing activities | (89,883,000) | (84,460,000) |
Cash flows from financing activities | ||
Net decrease in demand and savings deposits | (28,940,000) | (40,851,000) |
Net increase in certificates of deposits | 117,516,000 | 95,123,000 |
Net change in other borrowings | (800,000) | (1,727,000) |
Proceeds from FHLB advances | 192,660,000 | 767,200,000 |
Repayment of FHLB advances | (172,255,000) | (700,750,000) |
Payments to acquire treasury stock | (70,000) | |
Proceeds from issuance of common stock | 861,000 | 534,000 |
Dividends paid on preferred stock | (256,000) | (240,000) |
Dividends paid on common stock | (1,194,000) | (941,000) |
Net cash provided by financing activities | 107,592,000 | 103,257,000 |
Net change in cash and cash equivalents | 29,116,000 | 37,969,000 |
Cash and cash equivalents, beginning of period | 42,679,000 | 14,907,000 |
Cash and cash equivalents, end of period | 71,795,000 | 52,876,000 |
Cash paid during the period for: | ||
Interest | 9,841,000 | 6,987,000 |
Income taxes | 5,050,000 | 3,935,000 |
Noncash investing activities: | ||
Transfer from loans to other real estate owned | 4,779,000 | 159,000 |
Transfer from premises and equipment to other real estate owned | 397,000 | |
Loans charged off | $ 1,492,000 | 1,232,000 |
SBLF | ||
Cash flows from financing activities | ||
Redemption of SBLF preferred stock | (15,000,000) | |
Dividends paid on preferred stock | $ (21,000) |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | NOTE 1 – BASIS OF PRESENTATION The unaudited consolidated financial statements of County Bancorp, Inc. (“we,” “us,” ”our,” or the “Company”) and its subsidiaries, including Investors Community Bank (the “Bank”), have been prepared, in the opinion of management, to reflect all adjustments necessary for a fair presentation of the financial position, results of operations, and cash flows as of and for the nine months ended September 30, 2017 for the interim period. The results of operations for the three and nine months ended September 30, 2017 may not necessarily be indicative of the results to be expected for the year ending December 31, 2017, or for any other period. Management of the Company is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of income and expenses during the reported periods. Actual results could differ significantly from those estimates. These unaudited interim financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”). Certain information in footnote disclosure normally included in financial statements prepared in accordance with GAAP has been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. The Company qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act (the “JOBS Act”). Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended (the “Securities Act”), for complying with new or revised accounting standards. As an emerging growth company, the Company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to take advantage of the benefits of this extended transition period. New Accounting Pronouncements In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation to simplify several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. The amendments in this update became effective beginning January 1, 2017 and did not have a significant impact the Company’s financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses, to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendment replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This amendment is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years with early adoption permitted for the fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. Entities should apply this amendment as a modified-retrospective approach, through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company has developed a steering committee to implement this ASU, and is currently in the process of evaluating which methodology we will apply to our loan portfolio. The steering committee is also interviewing third-party vendors that will provide consulting and software services. At this time, the effect this ASU will have on its consolidated financial statements is unknown. In January 2017, the FASB issued ASU No. 2017-04 Intangibles – Goodwill and Other (Topic 350) Simplifying the Test for Goodwill Impairment The Company early adopted this amendment effective January 1, 2017 for its goodwill impairment analysis. The result of this amendment had no impact on the Company since its goodwill is not impaired as of September 30, 2017. In March 2017, the FASB issued updated guidance codified within ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs, which is intended to enhance the accounting for the amortization of premiums for purchased callable debt securities. The amendment is effective for fiscal years beginning after December 15, 2018, with early adoption permitted including adoption in an interim period. The Company is currently evaluating the effects this ASU will have on its consolidated financial statements. In May 2017, the FASB issued updated guidance codified within ASU No. 2017-09, Compensation – Stock Compensation to provide clarity and reduce the diversity in practice and cost and complexity of applying the guidance when there is a change of terms condition of share-based awards. The amendment is effective for fiscal years beginning after December 15, 2017, with early adoption permitted including adoption in an interim period. The adoption of this ASU is not expected to have a significant impact on the Company’s consolidated financial because modification to share-based awards are rarely made . In July 2017, the FASB issued ASU No. 2017-11, Earnings Per Share – Accounting for Certain Financial Instruments with Down Round Features to address the complexity of the accounting for equity-classified financial instruments with down round features. The amendment is effective for fiscal years beginning after December 15, 2019, with early adoption permitted including adoption in an interim period. The adoption of this ASU is not expected to have a significant impact on the Company’s consolidated financial because the Company does not issues equity-classified financial instruments with down round features. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | NOTE 2 – EARNINGS PER SHARE Earnings per common share is computed using the two-class method. Basic earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding during the applicable period. Diluted earnings per share is computed using the weighted-average number of shares determined for the basic earnings per common share plus the dilutive effect of share-based compensation using the treasury stock method. For the Three Months Ended For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (dollars in thousands) Net income from continuing operations $ 3,604 $ 3,102 $ 8,294 $ 7,223 Less: preferred stock dividends 91 80 257 261 Income available to common shareholders for basic earnings per common share $ 3,513 $ 3,022 $ 8,037 $ 6,962 Average number of common shares issued 7,333,799 7,310,944 7,327,268 6,951,282 Less: weighted average treasury shares 432,861 428,806 432,653 424,408 Less: weighted average nonvested equity incentive plan shares 256,638 357,708 271,338 367,357 Weighted average number of common shares outstanding 6,644,300 6,524,430 6,623,277 6,159,517 Effect of dilutive options 112,904 94,924 119,371 97,485 Weighted average number of common shares outstanding used to calculate diluted earnings per common share 6,757,204 6,619,354 6,742,648 6,257,002 |
SECURITIES AVAILABLE-FOR-SALE
SECURITIES AVAILABLE-FOR-SALE | 9 Months Ended |
Sep. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
SECURITIES AVAILABLE-FOR-SALE | NOTE 3 – SECURITIES AVAILABLE-FOR-SALE The amortized cost and fair value of securities available-for-sale as of September 30, 2017 and December 31, 2016 were as follows: Amortized Unrealized Unrealized Fair Cost Gains Losses Value (dollars in thousands) September 30, 2017 Municipal securities $ 37,772 $ 175 $ (68 ) $ 37,879 Mortgage-backed securities 69,515 291 (443 ) 69,363 Asset-backed securities — — — — $ 107,287 $ 466 $ (511 ) $ 107,242 December 31, 2016 U.S. government and agency securities $ 1,000 $ — $ — $ 1,000 Municipal securities 45,638 57 (239 ) 45,456 Mortgage-backed securities 73,648 292 (632 ) 73,308 Asset-backed securities 3,761 3 (91 ) 3,673 $ 124,047 $ 352 $ (962 ) $ 123,437 The amortized cost and fair value of securities at September 30, 2017 and December 31, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Fair Cost Value (dollars in thousands) September 30, 2017 Due in one year or less $ 9,553 $ 9,554 Due from one to five years 19,268 19,333 Due from five to ten years 8,951 8,992 Due after ten years — — Mortgage-backed securities 69,515 69,363 $ 107,287 $ 107,242 December 31, 2016 Due in one year or less $ 17,396 $ 17,311 Due from one to five years 25,960 25,912 Due from five to ten years 7,043 6,906 Due after ten years — — Mortgage-backed securities 73,648 73,308 $ 124,047 $ 123,437 Proceeds from sale of securities available-for-sale were $3.4 million and the gross loss realized was $37,000 for the nine months ended September 30, 2017. There were no security sales for the nine months ended September 30, 2016. At September 30, 2017 and December 31, 2016, no securities were pledged to secure the FHLB advances besides FHLB stock of $4.3 million and $5.7 million, respectively. At September 30, 2017 and December 31, 2016, the carrying amount of securities pledged to secure the Federal Reserve Bank Line of Credit was $8.5 million and $11.2 million, respectively. The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temorarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2017 and December 31, 2016: Less Than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (dollars in thousands) September 30, 2017 Municipal securities $ 12,116 $ (50 ) $ 3,492 $ (18 ) $ 15,608 $ (68 ) Mortgage-backed securities 28,930 (221 ) 10,647 (222 ) 39,577 (443 ) Asset-backed securities — — — — — — $ 41,046 $ (271 ) $ 14,139 $ (240 ) $ 55,185 $ (511 ) December 31, 2016 U.S. government and agency securities $ — $ — $ — $ — $ — $ — Municipal securities 24,924 (236 ) 604 (3 ) 25,528 (239 ) Mortgage-backed securities 48,719 (632 ) — — 48,719 (632 ) Asset-backed securities 2,745 (91 ) — — 2,745 (91 ) $ 76,388 $ (959 ) $ 604 $ (3 ) $ 76,992 $ (962 ) The unrealized loss on the investments at September 30, 2017 and December 31, 2016 was due to normal fluctuations and pricing inefficiencies. The contractual terms of the investments do not permit the issuers to settle the securities at a price less than the amortized cost basis of the investment. Because the Company does not intend to sell the investments and it is not more-likely-than-not that the Company will be required to sell the investments before recovery of the amortized cost basis, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at September 30, 2017 and December 31, 2016. |
LOANS
LOANS | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
LOANS | NOTE 4 – LOANS The components of loans were as follows: September 30, December 31, 2017 2016 (dollars in thousands) Agricultural loans $ 675,856 $ 624,632 Commercial real estate loans 290,420 270,475 Commercial loans 107,569 89,944 Residential real estate loans 52,527 45,276 Installment and consumer other 229 159 Total gross loans 1,126,601 1,030,486 Allowance for loan losses (13,625 ) (12,645 ) Loans, net $ 1,112,976 $ 1,017,841 Changes in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2017 and 2016 were as follows: September 30, 2017 Agricultural Commercial Real Estate Commercial Residential Real Estate Installment and Consumer Other Unallocated Total (dollars in thousands) Balance, beginning of year $ 8,173 $ 2,762 $ 1,239 $ 470 $ 1 $ — $ 12,645 Provision for loan losses 688 733 1,137 (241 ) 1 — 2,318 Loans charged off — (575 ) (917 ) — — — (1,492 ) Recoveries 43 80 31 — — — 154 Balance, end of period $ 8,904 $ 3,000 $ 1,490 $ 229 $ 2 $ — $ 13,625 September 30, 2016 Agricultural Commercial Real Estate Commercial Residential Real Estate Installment and Consumer Other Unallocated Total (dollars in thousands) Balance, beginning of year $ 6,355 $ 2,237 $ 1,268 $ 533 $ 12 $ — $ 10,405 Provision for loan losses 1,947 419 168 (118 ) (6 ) 6 2,416 Loans charged off (896 ) (50 ) (277 ) (5 ) (4 ) — (1,232 ) Recoveries 2 26 9 — — — 37 Balance, end of period $ 7,408 $ 2,632 $ 1,168 $ 410 $ 2 $ 6 $ 11,626 The following tables present the balances in the allowance for loan losses and the recorded balance in loans by portfolio segment and based on impairment method as of September 30, 2017 and December 31, 2016: September 30, 2017 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total (dollars in thousands) Allowance for loan losses: Agricultural loans $ 884 $ 8,020 $ 8,904 Commercial real estate loans 200 2,800 3,000 Commercial loans 43 1,447 1,490 Residential real estate loans — 229 229 Installment and consumer other — 2 2 Total ending allowance for loan losses 1,127 12,498 13,625 Loans: Agricultural loans 29,097 646,759 675,856 Commercial real estate loans 3,834 286,586 290,420 Commercial loans 1,158 106,411 107,569 Residential real estate loans — 52,527 52,527 Installment and consumer other — 229 229 Total loans 34,089 1,092,512 1,126,601 Net loans $ 32,962 $ 1,080,014 $ 1,112,976 December 31, 2016 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total (dollars in thousands) Allowance for loan losses: Agricultural loans $ 546 $ 7,627 $ 8,173 Commercial real estate loans 377 2,385 2,762 Commercial loans 413 826 1,239 Residential real estate loans — 470 470 Installment and consumer other — 1 1 Total ending allowance for loan losses 1,336 11,309 12,645 Loans: Agricultural loans 13,044 611,588 624,632 Commercial real estate loans 4,952 265,523 270,475 Commercial loans 3,376 86,568 89,944 Residential real estate loans 68 45,208 45,276 Installment and consumer other — 159 159 Total loans 21,440 1,009,046 1,030,486 Net loans $ 20,104 $ 997,737 $ 1,017,841 The following table presents the aging of the recorded investment in past due loans at September 30, 2017 and December 31, 2016: 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due Total Past Due Loans Not Past Due (dollars in thousands) September 30, 2017 Agricultural loans $ 3,429 $ 258 $ 6,264 $ 9,951 $ 665,905 Commercial real estate loans — 624 2,892 3,516 286,904 Commercial loans 135 — 1,118 1,253 106,316 Residential real estate loans 3 — — 3 52,524 Installment and consumer other — — — — 229 Total $ 3,567 $ 882 $ 10,274 $ 14,723 $ 1,111,878 December 31, 2016 Agricultural loans $ 12 $ — $ 9,680 $ 9,692 $ 614,940 Commercial real estate loans — 287 2,710 2,997 267,478 Commercial loans 371 — 2,695 3,066 86,878 Residential real estate loans — — — — 45,276 Installment and consumer other — — — — 159 Total $ 383 $ 287 $ 15,085 $ 15,755 $ 1,014,731 The following table lists information on nonaccrual, restructured, and certain past due loans at September 30, 2017 and December 31, 2016: September 30, December 31, 2017 2016 (dollars in thousands) Nonaccrual loans, 90 days or more past due $ 10,274 $ 15,085 Nonaccrual loans 30-89 days past due 2,430 371 Nonaccrual loans, less than 30 days past due 158 4,651 Restructured loans not on nonaccrual status 8,087 4,300 90 days or more past due and still accruing — — Total 20,949 24,407 The following table presents the recorded investment in nonaccrual loans and loans past due 90 days or more at September 30, 2017 and December 31, 2016: September 30, December 31, 2017 2016 (dollars in thousands) Agricultural loans $ 8,228 $ 12,323 Commercial real estate loans 3,516 4,340 Commercial loans 1,118 3,376 Residential real estate loans — 68 Total $ 12,862 $ 20,107 The average recorded investment in total impaired loans for the nine months ended September 30, 2017 and for the year ended December 31, 2016 amounted to approximately $27.8 million and $25.9 million, respectively. Impaired loans include nonaccrual loans, restructured loans, and loans that are 90 days or more past due and still accruing. Interest income recognized on total impaired loans for the nine months ended September 30, 2017 and for the year ended December 31, 2016 amounted to approximately $0.3 million and $0.4 million, respectively. For nonaccrual loans included in impaired loans, the interest income that would have been recognized had those loans been performing in accordance with their original terms would have been approximately $0.7 million and $1.5 million for the nine months ended September 30, 2017 and for the year ended December 31, 2016, respectively. Troubled Debt Restructurings The Company has allocated approximately $0.8 million and $0.5 million of specific reserves to customers whose loan terms have been modified in troubled debt restructurings (“TDR”) at September 30, 2017 and December 31, 2016, respectively. The Company had no additional lending commitments at September 30, 2017 or December 31, 2016 to customers with outstanding loans that are classified as TDRs. A TDR on nonaccrual status is classified as a nonaccrual loan until evaluation supports reasonable assurance of repayment and there has been a satisfactory period of performance according to the modified terms of the loan. Once this assurance is reached, the TDR is classified as a restructured loan. There were no unfunded commitments on these loans at September 30, 2017 and December 31, 2016. The following table presents the TDRs by loan class at September 30, 2017 and December 31, 2016: Non-Accrual Restructured and Accruing Total (dollars in thousands) September 30, 2017 Agricultural loans $ 4,356 $ 7,729 $ 12,085 Commercial real estate loans 624 318 942 Commercial loans — 40 40 Total $ 4,980 $ 8,087 $ 13,067 December 31, 2016 Agricultural loans $ 7,947 $ 3,925 $ 11,872 Commercial real estate loans 1,400 325 1,725 Commercial loans 371 50 421 Total $ 9,718 $ 4,300 $ 14,018 The following table provides the number of loans modified in a troubled debt restructuring investment by class for the nine months ended September 30, 2017 and 2016: For the Nine Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 Number of Loans Recorded Investment Number of Loans Recorded Investment (dollars in thousands) Troubled debt restructurings: Agricultural loans 16 $ 6,810 14 $ 8,704 Commercial real estate loans — — 2 553 Commercial loans — — 2 1,632 Total 16 $ 6,810 18 $ 10,889 The following table provides the troubled debt restructurings for the nine months ended September 30, 2017 and 2016 grouped by type of concession: For the Nine Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 Number of Loans Recorded Investment Number of Loans Recorded Investment (dollars in thousands) Agricultural loans Payment concessions 9 $ 5,581 6 $ 1,732 Extension of interest-only payments 6 908 5 1,243 Combination of extension of term and interest rate concessions 1 321 3 5,729 Commercial real estate loans Extension of interest-only payments — — 2 553 Commercial loans Extension of interest-only payments — — 2 1,632 Total 16 $ 6,810 18 $ 10,889 Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt, such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. Beginning in the third quarter of 2016, the substandard category was separated in to performing and impaired subcategories to provide more detailed analysis of this category of loans. The Company analyzes agricultural, commercial, and commercial real estate loans individually by classifying the credits as to credit risk. The process of analyzing loans for changes in risk rating is ongoing through routine monitoring of the portfolio and annual internal credit reviews for credits with total exposure in excess of $300,000. The Company uses the following definitions for credit risk ratings: Sound. Credits classified as sound show very good probability of ongoing ability to meet and/or exceed obligations. Acceptable. Credits classified as acceptable show a good probability of ongoing ability to meet and/or exceed obligations. Satisfactory. Credits classified as satisfactory show fair probability of ongoing ability to meet and/or exceed obligations. Low Satisfactory . Credits classified as low satisfactory show fair probability of ongoing ability to meet and/or exceed obligations. Low satisfactory credits may be newer or have a less established track record of financial performance, inconsistent earnings, or may be going through an expansion. Watch. Credits classified as watch show some questionable probability of ongoing ability to meet and/or exceed obligations. Special Mention. Credits classified as special mention show potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loans or of the institution’s credit position at some future date. Substandard – Performing. Credits classified as substandard – performing generally have well-defined weaknesses. Collateral coverage is adequate and the loans are not considered impaired. Payments are being made and the loans are on accrual status. Substandard - Impaired . Credits classified as substandard generally have well-defined weaknesses that jeopardize the repayment of the debt. They have a distinct possibility that a loss will be sustained if the deficiencies are not corrected. Loans are considered impaired. Loans are either exhibiting signs of delinquency, are on non-accrual or are identified as a TDR. Doubtful. Credits classified as doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable. The Company categorizes residential real estate, installment and consumer other loans as satisfactory at the time of origination based on information obtained as to the ability of the borrower(s) to service their debt, such as current financial information, employment status and history, historical payment experience, credit scores and type and amount of collateral among other factors. The Company updates relevant information on these types of loans at the time of refinance, troubled debt restructuring or other indications of financial difficulty, downgrading as needed using the same category descriptions as for agricultural, commercial, and commercial real estate loans. In addition, the Company further considers current payment status as an indicator of which risk category to assign the borrower. The greater the level of deteriorated risk as indicated by a loan’s assigned risk category, the greater the likelihood a loss will occur in the future. If the loan is substandard - impaired, then the loan loss reserves for the loan are recorded at the loss level of impairment. If the loan is not impaired, then its loan loss reserves are determined by the application of a loss rate that increases with risk in accordance with the allowance for loan loss analysis. Based on the most recent analysis performed by management, the risk category of loans by class of loans was as follows as of September 30, 2017 and December 31, 2016: As of September 30, 2017 Sound/ Acceptable/ Satisfactory/ Low Satisfactory Watch Special Mention Substandard Performing Substandard Impaired Total Loans (dollars in thousands) Agricultural loans $ 508,722 $ 100,993 $ 15,012 $ 41,923 9,206 $ 675,856 Commercial real estate loans 225,807 43,907 7,300 9,890 3,516 290,420 Commercial loans 88,132 12,741 1,144 4,434 1,118 107,569 Residential real estate loans 48,623 3,784 — — 120 52,527 Installment and consumer other 229 — — — — 229 Total $ 871,513 $ 161,425 $ 23,456 $ 56,247 $ 13,960 $ 1,126,601 As of December 31, 2016 Sound/ Acceptable/ Satisfactory/ Low Satisfactory Watch Special Mention Substandard Performing Substandard Impaired Total Loans (dollars in thousands) Agricultural loans $ 502,084 $ 84,801 $ 12,657 $ 12,046 $ 13,044 $ 624,632 Commercial real estate loans 225,038 27,368 378 12,739 4,952 270,475 Commercial loans 74,221 6,624 1,632 4,091 3,376 89,944 Residential real estate loans 40,556 4,151 501 — 68 45,276 Installment and consumer other 159 — — — — 159 Total $ 842,058 $ 122,944 $ 15,168 $ 28,876 $ 21,440 $ 1,030,486 |
LOAN SERVICING RIGHTS
LOAN SERVICING RIGHTS | 9 Months Ended |
Sep. 30, 2017 | |
Transfers And Servicing [Abstract] | |
LOAN SERVICING RIGHTS | NOTE 5 – LOAN SERVICING RIGHTS Loans serviced for others are not included in the accompanying consolidated balance sheets. The risks inherent in servicing assets relate primarily to changes in prepayments that result from shifts in interest rates. The unpaid principal balances of mortgage and other loans serviced for others were approximately $594.6 million and $577.0 million at September 30, 2017 and December 31, 2016, respectively. The fair value of these rights were approximately $12.4 million and $12.2 million at September 30, 2017 and December 31, 2016, respectively. The fair value of servicing rights was determined using an assumed discount rate of 10 percent and prepayment speeds primarily ranging from 4 percent to 9 percent, depending upon the stratification of the specific right, and nominal credit losses. The following summarizes servicing rights capitalized and amortized, along with the aggregate activity in related valuation allowances: September 30, December 31, 2017 2016 (dollars in thousands) Loan servicing rights: Balance, beginning of period $ 9,264 $ 8,145 Additions 1,831 4,794 Disposals (474 ) (1,552 ) Amortization (1,635 ) (2,123 ) Balance, end of period $ 8,986 $ 9,264 |
GOODWILL AND CORE DEPOSIT INTAN
GOODWILL AND CORE DEPOSIT INTANGIBLE | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
GOODWILL AND CORE DEPOSIT INTANGIBLE | NOTE 6 – GOODWILL AND CORE DEPOSIT INTANGIBLE The excess of the purchase price in an acquisition over the fair value of net assets acquired consists primarily of goodwill and the core deposit intangible. Goodwill is not amortized but is instead subject to impairment tests on at least an annual basis. Core deposit intangible, which arose from value ascribed to the deposit base of a bank acquired, has an estimated finite life and is amortized on an accelerated basis to expense over a 66-month period. Management will periodically review the carrying value of its long-lived and intangible assets to determine if any impairment has occurred, in which case an impairment charge would be recorded as an expense in the period of impairment, or whether changes in circumstances have occurred that would require a revision to the remaining useful life which would impact expense prospectively. In making such determination, management evaluates whether there are any adverse qualitative factors indicating that an impairment may exist, as well as the performance, on an undiscounted basis, of the underlying operations or assets which give rise to the intangible. Goodwill : Goodwill resulted from the acquisition of Fox River Valley Bancorp, Inc. (“Fox River Valley”) on May 13, 2016. The carrying amount of goodwill was $5.0 million at September 30, 2017 and December 31, 2016. Core deposit intangible: Core deposit intangible, primarily related to acquired customer relationships, is amortized over their estimated finite lives. The core deposit intangible related to the Fox River Valley acquisition had a gross carrying amount of $1.8 million. Amortization on core deposit intangible was $763 thousand at September 30, 2017 and $360 thousand at December 31, 2016. September 30, 2017 December 31, 2016 (dollars in thousands) Core deposit intangible: Gross carrying amount $ 1,801 $ 1,801 Accumulated amortization (763 ) (360 ) Net book value $ 1,038 $ 1,441 Additions during the period $ — $ 1,801 |
DEPOSITS
DEPOSITS | 9 Months Ended |
Sep. 30, 2017 | |
Banking And Thrift [Abstract] | |
DEPOSITS | NOTE 7 – DEPOSITS Deposits are summarized as follows at September 30, 2017 and December 31, 2016: September 30, December 31, 2017 2016 (dollars in thousands) Demand deposits $ 118,815 $ 118,657 Savings 233,199 262,296 Certificates of deposit 714,080 596,565 Total deposits $ 1,066,094 $ 977,518 At September 30, 2017 and December 31, 2016, brokered deposits amounted to $281.2 million and $193.6 million, respectively, and are included in savings and certificates of deposit categories. |
ADVANCES FROM FHLB AND OTHER BO
ADVANCES FROM FHLB AND OTHER BORROWINGS | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
ADVANCES FROM FHLB AND OTHER BORROWINGS | NOTE 8—ADVANCES FROM FHLB AND OTHER BORROWINGS The Bank had advances outstanding from the FHLB in the amount of $128.3 million and $107.9 million on September 30, 2017 and December 31, 2016, respectively. These advances, rates, and maturities were as follows: September 30, December 31, Maturity Rate 2017 2016 (dollars in thousands) Fixed rate, fixed term 01/03/2017 0.94 % $ — $ 595 Fixed rate, fixed term 02/27/2017 0.76 % — 5,000 Fixed rate, fixed term 03/15/2017 1.46 % — 2,000 Fixed rate, fixed term 06/16/2017 0.80 % — 10,000 Fixed rate, fixed term 08/11/2017 0.83 % — 5,000 Fixed rate, fixed term 11/15/2017 0.95 % 3,800 3,800 Fixed rate, fixed term 12/29/2017 1.27 % 3,000 3,000 Fixed rate, fixed term 01/02/2018 1.23 % 1,000 1,000 Fixed rate, fixed term 01/12/2018 0.85 % 8,000 8,000 Fixed rate, fixed term 02/12/2018 0.91 % 5,000 5,000 Fixed rate, fixed term 04/23/2018 1.07 % 2,300 2,300 Fixed rate, fixed term 06/18/2018 0.93 % 10,000 10,000 Fixed rate, fixed term 07/09/2018 1.41 % 15,000 — Fixed rate, fixed term 07/16/2018 1.21 % 762 762 Fixed rate, fixed term 07/16/2018 1.21 % 1,038 1,038 Fixed rate, fixed term 08/20/2018 1.15 % 1,000 1,000 Fixed rate, fixed term 08/20/2018 1.15 % 800 800 Fixed rate, fixed term 08/20/2018 1.27 % 2,200 2,200 Fixed rate, fixed term 11/09/2018 1.47 % 10,000 — Fixed rate, fixed term 12/31/2018 1.65 % 3,000 3,000 Fixed rate, fixed term 02/27/2019 1.47 % 5,000 5,000 Fixed rate, fixed term 03/08/2019 1.54 % 10,000 — Fixed rate, fixed term 07/15/2019 1.11 % 8,000 8,000 Fixed rate, fixed term 08/14/2019 1.77 % 2,000 2,000 Fixed rate, fixed term 02/20/2020 1.71 % 5,000 5,000 Fixed rate, fixed term 07/16/2020 1.85 % 800 800 Fixed rate, fixed term 08/25/2020 1.84 % 3,000 3,000 Fixed rate, fixed term 08/27/2020 1.88 % 5,000 5,000 Fixed rate, fixed term 12/30/2020 2.09 % 4,000 4,000 Fixed rate, fixed term 12/31/2020 1.94 % 600 600 Fixed rate, fixed term 04/12/2021 1.92 % 8,000 — Fixed rate, fixed term 06/15/2021 1.39 % 5,000 5,000 Fixed rate, fixed term 08/16/2021 2.29 % 3,000 3,000 Fixed rate, fixed term 12/30/2021 2.29 % 2,000 2,000 $ 128,300 $ 107,895 The terms of security agreements with the FHLB require the Bank to pledge collateral for its borrowings. The collateral consists of qualifying first mortgage loans, certain securities available for sale, and stock of the FHLB. The Bank had no irrevocable letters of credit with the FHLB as of September 30, 2017 and December 31, 2016. Future maturities of borrowings were as follows: September 30, December 31, 2017 2016 (dollars in thousands) 1 year or less $ 53,900 $ 29,395 1 to 2 years 38,000 35,100 2 to 3 years 13,800 15,000 3 to 4 years 20,600 18,400 Over 4 years 2,000 10,000 $ 128,300 $ 107,895 As of September 30, 2017 and December 31, 2016, the Bank also had a $50.0 million line-of-credit available with the Federal Reserve Bank of Chicago. Borrowings under this line of credit are limited by the amount of securities pledged by the Bank as collateral, which totaled $8.5 million and $11.2 million at September 30, 2017 and December 31, 2016, respectively. There were no outstanding advances included in other borrowings at September 30, 2017 and December 31, 2016, respectively. On September 14, 2017, the Company entered into a credit agreement with U.S. Bank National Association for a $15.0 million revolving line-of-credit with an interest rate of the one-month LIBOR rate plus 2.25%. The line also bears a non-usage fee of 0.275% per annum. The line did not have an outstanding balance as of September 30, 2017, and was unused during the quarter. Other borrowings are borrowings as a result of sold loans that do not qualify for sale accounting. These agreements are recorded as financing transactions as the Bank maintains effective control over the transferred loans. The dollar amount of the loans underlying the sale agreements continues to be carried in the Bank’s loan portfolio, and the transfer is reported as a secured borrowing with pledge of collateral. At September 30, 2017 and December 31, 2016, the amounts of these borrowings were $1.3 million and $2.0 million, respectively. Also included in other borrowings is the capital lease for our full service banking location in Appleton, Wisconsin that was assumed in connection with our merger of Fox River Valley. Under the terms of the current triple-net lease the Company is obligated to pay monthly rent of $15 thousand, and the lease term expires in April, 2018. As of September 30, 2017, liability remaining under the capital lease was $81 thousand, and the amortization related to the lease was $109 thousand for the nine months ended September 30, 2017. As of December 31, 2016, liability remaining under the capital lease was $189 thousand, and the amortization related to the lease was $65 thousand for the year ended December 31, 2016. The following table sets forth information concerning balances and interest rates on other borrowings as of and for the periods indicated: September 30, December 31, 2017 2016 (dollars in thousands) Balance outstanding at end of period $ 1,352 $ 2,152 Average amount outstanding during the period 1,618 3,047 Maximum amount outstanding at any month end 1,825 3,930 Weighted average interest rate during the period 5.84 % 5.30 % Weighted average interest rate at end of period 6.20 % 5.32 % |
EQUITY INCENTIVE PLAN
EQUITY INCENTIVE PLAN | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
EQUITY INCENTIVE PLAN | NOTE 9 – EQUITY INCENTIVE PLAN Under the Company’s 2016 Long Term Incentive Plan (the “Plan”), the Company may grant options to purchase shares of common stock and issue restricted stock to its directors, officers, and employees. Both qualified and non-qualified stock options and restricted stock may be granted and issued, respectively, under the Plan. As of September 30, 2017, 30,234 options or shares of restricted stock have been granted under the Plan. The exercise price of each option equals the market price of the Company’s stock on the date of grant and an option’s maximum term is ten years. Vesting periods range from one to five years from the date of grant. The restricted stock vesting periods range from one to five years from the date of issuance. The status of the Plan as of September 30, 2017 and changes in the Plan during the nine months ended September 30, 2017 were as follows: September 30, 2017 Number of Options Weighted-Average Exercise Price Aggregate Intrinsic Value (1) (dollars in thousands except option and per share data) Outstanding, beginning of year 291,059 $ 15.18 Granted 24,653 26.27 Exercised (65,026 ) 12.68 Forfeited/expired (4,868 ) 21.69 Outstanding, end of period 245,818 $ 16.83 $ 3,250 Options exercisable at period-end 159,329 $ 14.67 $ 2,450 Weighted-average fair value of options granted during the period (2) $ 9.54 (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 September 30, 2017. This amount changes based on changes in the market value of the Company’s stock. (2) The fair value (present value of the estimated future benefit to the option holder) of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. Activity in restricted stock awards (“RSA”) and restricted stock units (“RSU”) for the nine months ended September 30, 2017 was as follows: September 30, 2017 RSAs Weighted Average Grant Price Outstanding, beginning of year 38,593 $ 17.27 Granted 5,988 27.31 Vested (2,416 ) 19.77 Forfeited/expired (948 ) 27.31 Outstanding, end of period 41,217 $ 18.35 September 30, 2017 RSUs Weighted Average Grant Price Outstanding, beginning of year — $ — Granted 8,691 25.53 Vested — — Forfeited/expired — — Outstanding, end of period 8,691 $ 25.53 For the nine months ended September 30, 2017 and 2016, share-based compensation expense, including options and restricted stock awards, applicable to the Plan was $393 thousand and $295 thousand, respectively. As of September 30, 2017, unrecognized share-based compensation expense related to nonvested options and restricted stock awards amounted to $0.7 million and is expected to be recognized over a weighted average period of 2.20 years. |
REGULATORY MATTERS
REGULATORY MATTERS | 9 Months Ended |
Sep. 30, 2017 | |
Regulatory Capital Requirements [Abstract] | |
REGULATORY MATTERS | NOTE 10 – REGULATORY MATTERS The Company (on a consolidated basis) and the Bank are each subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the following table) of total, Tier 1 and Tier 1 Common Equity capital to risk-weighted assets, and of Tier 1 capital to average assets, as such terms are defined in the regulations. Management believed, as of September 30, 2017 and December 31, 2016, that the Company and the Bank met all capital adequacy requirements to which they were subject. As of September 30, 2017, the Bank’s capital ratios met those required to be considered as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier 1 risk-based, Tier 1 Common Equity risk-based, and Tier 1 leverage ratios as set forth in the following tables. The Company’s and the Bank’s actual capital amounts and ratios are presented in the following table: Actual Minimum For Capital Adequacy Purposes (a) Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions: Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) September 30, 2017 Total Capital (to risk weighted assets): Consolidated $ 163,592 13.19 % $ 114,751 9.25 % No t Bank 158,824 12.81 % 114,692 9.25 % $ 123,992 10.00 % Tier 1 Capital (to risk weighted assets): Consolidated 149,394 12.04 % 89,940 7.25 % Not applicable Bank 144,626 11.66 % 89,894 7.25 % 99,193 8.00 % Tier 1 Capital (to average assets): Consolidated 149,394 11.53 % 51,809 4.00 % Not applicable Bank 144,626 11.17 % 51,770 4.00 % 64,713 5.00 % Tier 1 Common Equity Ratio (to risk weighted assets): Consolidated 125,888 10.15 % 71,332 5.75 % Not applicable Bank 144,626 11.66 % 71,295 5.75 % 80,595 6.50 % December 31, 2016 Total Capital (to risk weighted assets): Consolidated $ 154,335 13.59 % $ 97,949 8.625 % Not applicable Bank 149,278 13.23 % 97,295 8.625 % $ 112,805 10.00 % Tier 1 Capital (to risk weighted assets): Consolidated 141,206 12.43 % 75,236 6.625 % Not applicable Bank 136,148 12.07 % 74,734 6.625 % 90,244 8.00 % Tier 1 Capital (to average assets): Consolidated 141,206 11.48 % 49,183 4.00 % Not applicable Bank 136,148 11.08 % 49,144 4.00 % 61,430 5.00 % Tier 1 Common Equity Ratio (to risk weighted assets): Consolidated 117,755 10.37 % 58,201 5.125 % Not applicable Bank 136,148 12.07 % 57,813 5.125 % 73,323 6.50 % (a) The ratios for September 30, 2017 and December 31, 2016 include a capital conservation buffer of 1.25% and 0.625%, respectively. The rules of the Basel III regulatory capital framework implemented a capital conservation buffer that is added to the minimum requirements for capital adequacy purposes. The capital conservation buffer is subject to a three year phase-in period that began on January 1, 2016 and will be fully phased in on January 1, 2019 at 2.5%. The required phase-in capital conservation buffer during 2017 is 1.25%. At the present time, the ratios for the Company and the Bank are sufficient to meet the fully phased-in conservation buffer. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENTS | NOTE 11 – FAIR VALUE MEASUREMENTS ASC 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability is not adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are independent, knowledgeable, and both able and willing to transact. ASC 820-10 requires the use of valuation techniques that are consistent with the market approach, the income approach, and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, ASC 820-10 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1—Valuation is based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2—Valuation is based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3—Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following methods and assumptions were used by the Company in estimating the fair value disclosures for financial instruments: Cash and Cash Equivalents and Interest-Bearing Deposits in Banks The carrying amounts of cash and short-term instruments approximate fair values based on the short-term nature of the assets. Fair values of other interest-bearing deposits in banks are estimated using discounted cash flow analyses based on current rates for similar types of deposits. Securities Available for Sale Where quoted prices are available in an active market, the Company classifies the securities within Level 1 of the valuation hierarchy. Securities are defined as both long and short positions. Level 1 securities include highly liquid government bonds and exchange-traded equities. If quoted market prices are not available, the Company estimates fair values using pricing models and discounted cash flows that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes and credit spreads. Examples of such instruments, which would generally be classified within Level 2 of the valuation hierarchy, include U.S. government and agency securities, corporate bonds and other securities. Mortgage-backed securities are included in Level 2 if observable inputs are available. In certain cases where there is limited activity or less transparency around inputs to the valuation, the Company classifies those securities in Level 3. Loans For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Fair values for certain mortgage loans (e.g., one-to-four family residential), credit card loans, and other consumer loans are based on quoted market prices of similar loans sold in conjunction with securitization transactions, adjusted for differences in loan characteristics. Fair values for other loans (e.g., commercial and agricultural loans) are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Fair values for non-performing loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. Loans Held for Sale The carrying value of loans held for sale generally approximates fair value based on the short-term nature of the assets. If management identifies a loan held for sale that will ultimately sell at a value less than its carrying value, it is recorded at the estimated value. Loan Servicing Rights Fair value is based on market prices for comparable loan servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. Other Real Estate Owned Loans on which the underlying collateral has been repossessed are adjusted to fair value upon transfer to other real estate owned. Subsequently, other real estate owned is carried at the lower of carrying value or fair value. Fair value is based upon independent market prices, appraised values of the collateral, or management’s estimation of the value of the collateral. Due to the significance of the unobservable inputs, all other real estate owned is classified as Level 3. Deposits The fair values disclosed for demand deposits (e.g., interest and non-interest checking, statement savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). The carrying amounts of variable-rate, fixed-term money market accounts and certificates of deposit approximate their fair values at the reporting date. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. Other Borrowings The carrying amounts of federal funds purchased, other borrowings, and other short-term borrowings maturing within 90 days approximate their fair values. Advances from the Federal Home Loan Bank Current market rates for debt with similar terms and remaining maturities are used to estimate fair value of advances from the Federal Home Loan Bank (the “FHLB”). Fair values are estimated using discounted cash flow analyses based on current market rates for similar types of borrowing arrangements. Subordinated Debentures The fair values of these debt instruments utilize a discounted cash flow analysis based on an estimate of current interest rates being offered by instruments with similar terms and credit quality. Since the market for these instruments is limited, the internal evaluation represents a Level 3 measurement and approximates fair value. Accrued Interest The carrying amounts approximate fair value. Commitments to Extend Credit and Standby Letters of Credit As of September 30, 2017 and December 31, 2016, the carrying and fair values of the commitments to extend credit and standby letters of credit are not considered significant. Assets measured at fair value on a recurring basis are summarized below: Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (dollars in thousands) September 30, 2017 Securities available for sale: Municipal securities $ — $ 37,879 $ — $ 37,879 Mortgage-backed securities — 69,363 — 69,363 Asset-backed securities — — — - Total assets at fair value $ — $ 107,242 $ — $ 107,242 December 31, 2016 Securities available for sale: U.S. government and agency securities $ — $ 1,000 $ — $ 1,000 Municipal securities — 45,456 — 45,456 Mortgage-backed securities — 73,308 — 73,308 Asset-backed securities — 3,673 — 3,673 Total assets at fair value $ — $ 123,437 $ — $ 123,437 Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, they are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The following table presents the financial instruments carried on the consolidated balance sheet by caption and by level in the fair value hierarchy for which a nonrecurring change in fair value has been recorded: Level 1 Inputs Level 2 Inputs Level 3 Inputs Impairment Losses (dollars in thousands) September 30, 2017 Impaired loans $ — $ — $ 32,962 $ 1,127 Other real estate owned — — 6,974 85 Total assets at fair value $ — $ — $ 39,936 $ 1,212 December 31, 2016 Impaired loans $ — $ — $ 20,104 $ 1,336 Other real estate owned — — 3,161 480 Total assets at fair value $ — $ — $ 23,265 $ 1,816 The significant inputs used in the fair value measurements for Level 3 assets measured at fair value on a nonrecurring basis are as follows: September 30, 2017 Valuation Techniques Unobservable Inputs Range (Average) Impaired loans Evaluation of collateral Estimation of value NM* Other real estate owned Appraisal Appraisal adjustment 10%-41% (22%) December 31, 2016 Valuation Techniques Unobservable Inputs Range (Average) Impaired loans Evaluation of collateral Estimation of value NM* Other real estate owned Appraisal Appraisal adjustment 7%-39% (21%) * Not Meaningful. The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows: September 30, December 31, 2017 2016 Carrying Amount Fair Value Carrying Amount Fair Value Input Level (dollars in thousands) Financial assets: Cash and cash equivalents $ 71,795 $ 71,795 $ 42,679 $ 42,679 1 Securities available for sale 107,242 107,242 123,437 123,437 2 FHLB Stock 4,309 4,309 5,688 5,688 2 Loans, net of allowance for loan losses 1,112,976 1,117,970 1,017,841 1,022,391 3 Loans held for sale 2,054 2,054 1,162 1,162 3 Accrued interest receivable 3,847 3,847 3,151 3,151 2 Loan servicing rights 8,986 12,423 9,264 12,194 3 Financial liabilities: Deposits: Time 714,080 720,041 596,565 600,153 3 Other deposits 352,014 349,037 380,953 377,980 1 Other borrowings 1,352 1,352 2,152 2,152 3 Advances from FHLB 128,300 129,184 107,895 108,517 3 Subordinated debentures 15,506 15,506 15,451 15,451 3 Accrued interest payable 2,125 2,125 1,879 1,879 2 |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 9 Months Ended |
Sep. 30, 2017 | |
Banking And Thrift [Abstract] | |
OTHER REAL ESTATE OWNED | NOTE 12 – OTHER REAL ESTATE OWNED Changes in other real estate owned were as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (dollars in thousands) Balance, beginning of period $ 6,917 $ 2,789 $ 3,161 $ 2,872 Assets foreclosed 268 — 4,779 159 Assets acquired — — — 1,951 Assets transferred from premises and equipment — 397 397 Write-down of other real estate owned (7 ) (250 ) (85 ) (334 ) Net gain on sales of other real estate owned (39 ) 32 363 121 Proceeds from sale of other real estate owned (165 ) (272 ) (1,244 ) (2,470 ) Balance, end of period $ 6,974 $ 2,696 $ 6,974 $ 2,696 Expenses (income) applicable to other real estate owned included in non-interest expense include the following: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (dollars in thousands) Net gain on sales of other real estate owned $ 39 $ (32 ) $ (363 ) $ (121 ) Write-down of other real estate owned 7 250 85 334 Operating expenses, net of rental income 30 41 99 120 $ 76 $ 259 $ (179 ) $ 333 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2017 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 13 – SUBSEQUENT EVENTS Management evaluated subsequent events through the date the financial statements were issued. There were no significant events or transactions occurring after September 30, 2017, but prior to November 8, 2017, that provided additional evidence about conditions that existed at September 30, 2017. |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements | New Accounting Pronouncements In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation to simplify several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. The amendments in this update became effective beginning January 1, 2017 and did not have a significant impact the Company’s financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses, to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendment replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This amendment is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years with early adoption permitted for the fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. Entities should apply this amendment as a modified-retrospective approach, through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company has developed a steering committee to implement this ASU, and is currently in the process of evaluating which methodology we will apply to our loan portfolio. The steering committee is also interviewing third-party vendors that will provide consulting and software services. At this time, the effect this ASU will have on its consolidated financial statements is unknown. In January 2017, the FASB issued ASU No. 2017-04 Intangibles – Goodwill and Other (Topic 350) Simplifying the Test for Goodwill Impairment The Company early adopted this amendment effective January 1, 2017 for its goodwill impairment analysis. The result of this amendment had no impact on the Company since its goodwill is not impaired as of September 30, 2017. In March 2017, the FASB issued updated guidance codified within ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs, which is intended to enhance the accounting for the amortization of premiums for purchased callable debt securities. The amendment is effective for fiscal years beginning after December 15, 2018, with early adoption permitted including adoption in an interim period. The Company is currently evaluating the effects this ASU will have on its consolidated financial statements. In May 2017, the FASB issued updated guidance codified within ASU No. 2017-09, Compensation – Stock Compensation to provide clarity and reduce the diversity in practice and cost and complexity of applying the guidance when there is a change of terms condition of share-based awards. The amendment is effective for fiscal years beginning after December 15, 2017, with early adoption permitted including adoption in an interim period. The adoption of this ASU is not expected to have a significant impact on the Company’s consolidated financial because modification to share-based awards are rarely made . In July 2017, the FASB issued ASU No. 2017-11, Earnings Per Share – Accounting for Certain Financial Instruments with Down Round Features to address the complexity of the accounting for equity-classified financial instruments with down round features. The amendment is effective for fiscal years beginning after December 15, 2019, with early adoption permitted including adoption in an interim period. The adoption of this ASU is not expected to have a significant impact on the Company’s consolidated financial because the Company does not issues equity-classified financial instruments with down round features. |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Earnings Per Share | Earnings per common share is computed using the two-class method. Basic earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding during the applicable period. Diluted earnings per share is computed using the weighted-average number of shares determined for the basic earnings per common share plus the dilutive effect of share-based compensation using the treasury stock method. For the Three Months Ended For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (dollars in thousands) Net income from continuing operations $ 3,604 $ 3,102 $ 8,294 $ 7,223 Less: preferred stock dividends 91 80 257 261 Income available to common shareholders for basic earnings per common share $ 3,513 $ 3,022 $ 8,037 $ 6,962 Average number of common shares issued 7,333,799 7,310,944 7,327,268 6,951,282 Less: weighted average treasury shares 432,861 428,806 432,653 424,408 Less: weighted average nonvested equity incentive plan shares 256,638 357,708 271,338 367,357 Weighted average number of common shares outstanding 6,644,300 6,524,430 6,623,277 6,159,517 Effect of dilutive options 112,904 94,924 119,371 97,485 Weighted average number of common shares outstanding used to calculate diluted earnings per common share 6,757,204 6,619,354 6,742,648 6,257,002 |
SECURITIES AVAILABLE-FOR-SALE (
SECURITIES AVAILABLE-FOR-SALE (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of Amortized Cost and Fair Value of Available for Sale of Securities | The amortized cost and fair value of securities available-for-sale as of September 30, 2017 and December 31, 2016 were as follows: Amortized Unrealized Unrealized Fair Cost Gains Losses Value (dollars in thousands) September 30, 2017 Municipal securities $ 37,772 $ 175 $ (68 ) $ 37,879 Mortgage-backed securities 69,515 291 (443 ) 69,363 Asset-backed securities — — — — $ 107,287 $ 466 $ (511 ) $ 107,242 December 31, 2016 U.S. government and agency securities $ 1,000 $ — $ — $ 1,000 Municipal securities 45,638 57 (239 ) 45,456 Mortgage-backed securities 73,648 292 (632 ) 73,308 Asset-backed securities 3,761 3 (91 ) 3,673 $ 124,047 $ 352 $ (962 ) $ 123,437 |
Schedule of Amortized Cost and Fair Value of Securities Available for Sale by Contractual Maturity | The amortized cost and fair value of securities at September 30, 2017 and December 31, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Fair Cost Value (dollars in thousands) September 30, 2017 Due in one year or less $ 9,553 $ 9,554 Due from one to five years 19,268 19,333 Due from five to ten years 8,951 8,992 Due after ten years — — Mortgage-backed securities 69,515 69,363 $ 107,287 $ 107,242 December 31, 2016 Due in one year or less $ 17,396 $ 17,311 Due from one to five years 25,960 25,912 Due from five to ten years 7,043 6,906 Due after ten years — — Mortgage-backed securities 73,648 73,308 $ 124,047 $ 123,437 |
Schedule of Fair Value and Gross Unrealized Losses of Entity's Investment | The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temorarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2017 and December 31, 2016: Less Than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (dollars in thousands) September 30, 2017 Municipal securities $ 12,116 $ (50 ) $ 3,492 $ (18 ) $ 15,608 $ (68 ) Mortgage-backed securities 28,930 (221 ) 10,647 (222 ) 39,577 (443 ) Asset-backed securities — — — — — — $ 41,046 $ (271 ) $ 14,139 $ (240 ) $ 55,185 $ (511 ) December 31, 2016 U.S. government and agency securities $ — $ — $ — $ — $ — $ — Municipal securities 24,924 (236 ) 604 (3 ) 25,528 (239 ) Mortgage-backed securities 48,719 (632 ) — — 48,719 (632 ) Asset-backed securities 2,745 (91 ) — — 2,745 (91 ) $ 76,388 $ (959 ) $ 604 $ (3 ) $ 76,992 $ (962 ) |
LOANS (Tables)
LOANS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Components of Loans | The components of loans were as follows: September 30, December 31, 2017 2016 (dollars in thousands) Agricultural loans $ 675,856 $ 624,632 Commercial real estate loans 290,420 270,475 Commercial loans 107,569 89,944 Residential real estate loans 52,527 45,276 Installment and consumer other 229 159 Total gross loans 1,126,601 1,030,486 Allowance for loan losses (13,625 ) (12,645 ) Loans, net $ 1,112,976 $ 1,017,841 |
Changes in Allowance for Loan Losses by Portfolio Segment | Changes in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2017 and 2016 were as follows: September 30, 2017 Agricultural Commercial Real Estate Commercial Residential Real Estate Installment and Consumer Other Unallocated Total (dollars in thousands) Balance, beginning of year $ 8,173 $ 2,762 $ 1,239 $ 470 $ 1 $ — $ 12,645 Provision for loan losses 688 733 1,137 (241 ) 1 — 2,318 Loans charged off — (575 ) (917 ) — — — (1,492 ) Recoveries 43 80 31 — — — 154 Balance, end of period $ 8,904 $ 3,000 $ 1,490 $ 229 $ 2 $ — $ 13,625 September 30, 2016 Agricultural Commercial Real Estate Commercial Residential Real Estate Installment and Consumer Other Unallocated Total (dollars in thousands) Balance, beginning of year $ 6,355 $ 2,237 $ 1,268 $ 533 $ 12 $ — $ 10,405 Provision for loan losses 1,947 419 168 (118 ) (6 ) 6 2,416 Loans charged off (896 ) (50 ) (277 ) (5 ) (4 ) — (1,232 ) Recoveries 2 26 9 — — — 37 Balance, end of period $ 7,408 $ 2,632 $ 1,168 $ 410 $ 2 $ 6 $ 11,626 |
Balances in Allowance for Loan Losses and Recorded Balance in Loans by Portfolio Segment and Based on Impairment Method | The following tables present the balances in the allowance for loan losses and the recorded balance in loans by portfolio segment and based on impairment method as of September 30, 2017 and December 31, 2016: September 30, 2017 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total (dollars in thousands) Allowance for loan losses: Agricultural loans $ 884 $ 8,020 $ 8,904 Commercial real estate loans 200 2,800 3,000 Commercial loans 43 1,447 1,490 Residential real estate loans — 229 229 Installment and consumer other — 2 2 Total ending allowance for loan losses 1,127 12,498 13,625 Loans: Agricultural loans 29,097 646,759 675,856 Commercial real estate loans 3,834 286,586 290,420 Commercial loans 1,158 106,411 107,569 Residential real estate loans — 52,527 52,527 Installment and consumer other — 229 229 Total loans 34,089 1,092,512 1,126,601 Net loans $ 32,962 $ 1,080,014 $ 1,112,976 December 31, 2016 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total (dollars in thousands) Allowance for loan losses: Agricultural loans $ 546 $ 7,627 $ 8,173 Commercial real estate loans 377 2,385 2,762 Commercial loans 413 826 1,239 Residential real estate loans — 470 470 Installment and consumer other — 1 1 Total ending allowance for loan losses 1,336 11,309 12,645 Loans: Agricultural loans 13,044 611,588 624,632 Commercial real estate loans 4,952 265,523 270,475 Commercial loans 3,376 86,568 89,944 Residential real estate loans 68 45,208 45,276 Installment and consumer other — 159 159 Total loans 21,440 1,009,046 1,030,486 Net loans $ 20,104 $ 997,737 $ 1,017,841 |
Schedule of Aging of Recorded Investment in Past Due Loans | The following table presents the aging of the recorded investment in past due loans at September 30, 2017 and December 31, 2016: 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due Total Past Due Loans Not Past Due (dollars in thousands) September 30, 2017 Agricultural loans $ 3,429 $ 258 $ 6,264 $ 9,951 $ 665,905 Commercial real estate loans — 624 2,892 3,516 286,904 Commercial loans 135 — 1,118 1,253 106,316 Residential real estate loans 3 — — 3 52,524 Installment and consumer other — — — — 229 Total $ 3,567 $ 882 $ 10,274 $ 14,723 $ 1,111,878 December 31, 2016 Agricultural loans $ 12 $ — $ 9,680 $ 9,692 $ 614,940 Commercial real estate loans — 287 2,710 2,997 267,478 Commercial loans 371 — 2,695 3,066 86,878 Residential real estate loans — — — — 45,276 Installment and consumer other — — — — 159 Total $ 383 $ 287 $ 15,085 $ 15,755 $ 1,014,731 |
Nonaccrual, Restructured and Certain Past Due Loans | The following table lists information on nonaccrual, restructured, and certain past due loans at September 30, 2017 and December 31, 2016: September 30, December 31, 2017 2016 (dollars in thousands) Nonaccrual loans, 90 days or more past due $ 10,274 $ 15,085 Nonaccrual loans 30-89 days past due 2,430 371 Nonaccrual loans, less than 30 days past due 158 4,651 Restructured loans not on nonaccrual status 8,087 4,300 90 days or more past due and still accruing — — Total 20,949 24,407 |
Recorded Investment in Nonaccrual and Loans Past Due 90 Days or More | The following table presents the recorded investment in nonaccrual loans and loans past due 90 days or more at September 30, 2017 and December 31, 2016: September 30, December 31, 2017 2016 (dollars in thousands) Agricultural loans $ 8,228 $ 12,323 Commercial real estate loans 3,516 4,340 Commercial loans 1,118 3,376 Residential real estate loans — 68 Total $ 12,862 $ 20,107 |
TDRs by Loan Class | The following table presents the TDRs by loan class at September 30, 2017 and December 31, 2016: Non-Accrual Restructured and Accruing Total (dollars in thousands) September 30, 2017 Agricultural loans $ 4,356 $ 7,729 $ 12,085 Commercial real estate loans 624 318 942 Commercial loans — 40 40 Total $ 4,980 $ 8,087 $ 13,067 December 31, 2016 Agricultural loans $ 7,947 $ 3,925 $ 11,872 Commercial real estate loans 1,400 325 1,725 Commercial loans 371 50 421 Total $ 9,718 $ 4,300 $ 14,018 The following table provides the number of loans modified in a troubled debt restructuring investment by class for the nine months ended September 30, 2017 and 2016: For the Nine Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 Number of Loans Recorded Investment Number of Loans Recorded Investment (dollars in thousands) Troubled debt restructurings: Agricultural loans 16 $ 6,810 14 $ 8,704 Commercial real estate loans — — 2 553 Commercial loans — — 2 1,632 Total 16 $ 6,810 18 $ 10,889 |
Summary of Troubled Debt Restructurings Grouped by Type of Concession | The following table provides the troubled debt restructurings for the nine months ended September 30, 2017 and 2016 grouped by type of concession: For the Nine Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 Number of Loans Recorded Investment Number of Loans Recorded Investment (dollars in thousands) Agricultural loans Payment concessions 9 $ 5,581 6 $ 1,732 Extension of interest-only payments 6 908 5 1,243 Combination of extension of term and interest rate concessions 1 321 3 5,729 Commercial real estate loans Extension of interest-only payments — — 2 553 Commercial loans Extension of interest-only payments — — 2 1,632 Total 16 $ 6,810 18 $ 10,889 |
Risk Category of Loans by Class of Loans | Based on the most recent analysis performed by management, the risk category of loans by class of loans was as follows as of September 30, 2017 and December 31, 2016: As of September 30, 2017 Sound/ Acceptable/ Satisfactory/ Low Satisfactory Watch Special Mention Substandard Performing Substandard Impaired Total Loans (dollars in thousands) Agricultural loans $ 508,722 $ 100,993 $ 15,012 $ 41,923 9,206 $ 675,856 Commercial real estate loans 225,807 43,907 7,300 9,890 3,516 290,420 Commercial loans 88,132 12,741 1,144 4,434 1,118 107,569 Residential real estate loans 48,623 3,784 — — 120 52,527 Installment and consumer other 229 — — — — 229 Total $ 871,513 $ 161,425 $ 23,456 $ 56,247 $ 13,960 $ 1,126,601 As of December 31, 2016 Sound/ Acceptable/ Satisfactory/ Low Satisfactory Watch Special Mention Substandard Performing Substandard Impaired Total Loans (dollars in thousands) Agricultural loans $ 502,084 $ 84,801 $ 12,657 $ 12,046 $ 13,044 $ 624,632 Commercial real estate loans 225,038 27,368 378 12,739 4,952 270,475 Commercial loans 74,221 6,624 1,632 4,091 3,376 89,944 Residential real estate loans 40,556 4,151 501 — 68 45,276 Installment and consumer other 159 — — — — 159 Total $ 842,058 $ 122,944 $ 15,168 $ 28,876 $ 21,440 $ 1,030,486 |
LOAN SERVICING RIGHTS (Tables)
LOAN SERVICING RIGHTS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Transfers And Servicing [Abstract] | |
Summary of Servicing Rights Capitalized and Amortized along with the Aggregate Activity in Related Valuation | The following summarizes servicing rights capitalized and amortized, along with the aggregate activity in related valuation allowances: September 30, December 31, 2017 2016 (dollars in thousands) Loan servicing rights: Balance, beginning of period $ 9,264 $ 8,145 Additions 1,831 4,794 Disposals (474 ) (1,552 ) Amortization (1,635 ) (2,123 ) Balance, end of period $ 8,986 $ 9,264 |
GOODWILL AND CORE DEPOSIT INT27
GOODWILL AND CORE DEPOSIT INTANGIBLE (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Core Deposit | |
Finite Lived Intangible Assets [Line Items] | |
Core Deposit Intangible | September 30, 2017 December 31, 2016 (dollars in thousands) Core deposit intangible: Gross carrying amount $ 1,801 $ 1,801 Accumulated amortization (763 ) (360 ) Net book value $ 1,038 $ 1,441 Additions during the period $ — $ 1,801 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Banking And Thrift [Abstract] | |
Summary of Deposits | Deposits are summarized as follows at September 30, 2017 and December 31, 2016: September 30, December 31, 2017 2016 (dollars in thousands) Demand deposits $ 118,815 $ 118,657 Savings 233,199 262,296 Certificates of deposit 714,080 596,565 Total deposits $ 1,066,094 $ 977,518 |
ADVANCES FROM FHLB AND OTHER 29
ADVANCES FROM FHLB AND OTHER BORROWINGS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Advances Outstanding from FHLB | The Bank had advances outstanding from the FHLB in the amount of $128.3 million and $107.9 million on September 30, 2017 and December 31, 2016, respectively. These advances, rates, and maturities were as follows: September 30, December 31, Maturity Rate 2017 2016 (dollars in thousands) Fixed rate, fixed term 01/03/2017 0.94 % $ — $ 595 Fixed rate, fixed term 02/27/2017 0.76 % — 5,000 Fixed rate, fixed term 03/15/2017 1.46 % — 2,000 Fixed rate, fixed term 06/16/2017 0.80 % — 10,000 Fixed rate, fixed term 08/11/2017 0.83 % — 5,000 Fixed rate, fixed term 11/15/2017 0.95 % 3,800 3,800 Fixed rate, fixed term 12/29/2017 1.27 % 3,000 3,000 Fixed rate, fixed term 01/02/2018 1.23 % 1,000 1,000 Fixed rate, fixed term 01/12/2018 0.85 % 8,000 8,000 Fixed rate, fixed term 02/12/2018 0.91 % 5,000 5,000 Fixed rate, fixed term 04/23/2018 1.07 % 2,300 2,300 Fixed rate, fixed term 06/18/2018 0.93 % 10,000 10,000 Fixed rate, fixed term 07/09/2018 1.41 % 15,000 — Fixed rate, fixed term 07/16/2018 1.21 % 762 762 Fixed rate, fixed term 07/16/2018 1.21 % 1,038 1,038 Fixed rate, fixed term 08/20/2018 1.15 % 1,000 1,000 Fixed rate, fixed term 08/20/2018 1.15 % 800 800 Fixed rate, fixed term 08/20/2018 1.27 % 2,200 2,200 Fixed rate, fixed term 11/09/2018 1.47 % 10,000 — Fixed rate, fixed term 12/31/2018 1.65 % 3,000 3,000 Fixed rate, fixed term 02/27/2019 1.47 % 5,000 5,000 Fixed rate, fixed term 03/08/2019 1.54 % 10,000 — Fixed rate, fixed term 07/15/2019 1.11 % 8,000 8,000 Fixed rate, fixed term 08/14/2019 1.77 % 2,000 2,000 Fixed rate, fixed term 02/20/2020 1.71 % 5,000 5,000 Fixed rate, fixed term 07/16/2020 1.85 % 800 800 Fixed rate, fixed term 08/25/2020 1.84 % 3,000 3,000 Fixed rate, fixed term 08/27/2020 1.88 % 5,000 5,000 Fixed rate, fixed term 12/30/2020 2.09 % 4,000 4,000 Fixed rate, fixed term 12/31/2020 1.94 % 600 600 Fixed rate, fixed term 04/12/2021 1.92 % 8,000 — Fixed rate, fixed term 06/15/2021 1.39 % 5,000 5,000 Fixed rate, fixed term 08/16/2021 2.29 % 3,000 3,000 Fixed rate, fixed term 12/30/2021 2.29 % 2,000 2,000 $ 128,300 $ 107,895 |
Future Maturities of Borrowings | Future maturities of borrowings were as follows: September 30, December 31, 2017 2016 (dollars in thousands) 1 year or less $ 53,900 $ 29,395 1 to 2 years 38,000 35,100 2 to 3 years 13,800 15,000 3 to 4 years 20,600 18,400 Over 4 years 2,000 10,000 $ 128,300 $ 107,895 |
Balances and Interest Rates on Other Borrowings | The following table sets forth information concerning balances and interest rates on other borrowings as of and for the periods indicated: September 30, December 31, 2017 2016 (dollars in thousands) Balance outstanding at end of period $ 1,352 $ 2,152 Average amount outstanding during the period 1,618 3,047 Maximum amount outstanding at any month end 1,825 3,930 Weighted average interest rate during the period 5.84 % 5.30 % Weighted average interest rate at end of period 6.20 % 5.32 % |
EQUITY INCENTIVE PLAN (Tables)
EQUITY INCENTIVE PLAN (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Status and Changes in Stock Option 2016 Plan | The status of the Plan as of September 30, 2017 and changes in the Plan during the nine months ended September 30, 2017 were as follows: September 30, 2017 Number of Options Weighted-Average Exercise Price Aggregate Intrinsic Value (1) (dollars in thousands except option and per share data) Outstanding, beginning of year 291,059 $ 15.18 Granted 24,653 26.27 Exercised (65,026 ) 12.68 Forfeited/expired (4,868 ) 21.69 Outstanding, end of period 245,818 $ 16.83 $ 3,250 Options exercisable at period-end 159,329 $ 14.67 $ 2,450 Weighted-average fair value of options granted during the period (2) $ 9.54 (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 September 30, 2017. This amount changes based on changes in the market value of the Company’s stock. (2) The fair value (present value of the estimated future benefit to the option holder) of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. |
Activity in Restricted Stock Awards and Restricted Stock Units | Activity in restricted stock awards (“RSA”) and restricted stock units (“RSU”) for the nine months ended September 30, 2017 was as follows: September 30, 2017 RSAs Weighted Average Grant Price Outstanding, beginning of year 38,593 $ 17.27 Granted 5,988 27.31 Vested (2,416 ) 19.77 Forfeited/expired (948 ) 27.31 Outstanding, end of period 41,217 $ 18.35 September 30, 2017 RSUs Weighted Average Grant Price Outstanding, beginning of year — $ — Granted 8,691 25.53 Vested — — Forfeited/expired — — Outstanding, end of period 8,691 $ 25.53 |
REGULATORY MATTERS (Tables)
REGULATORY MATTERS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Regulatory Capital Requirements [Abstract] | |
Summary of Actual Capital Amount and Ratio of Company's and Bank's | The Company’s and the Bank’s actual capital amounts and ratios are presented in the following table: Actual Minimum For Capital Adequacy Purposes (a) Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions: Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) September 30, 2017 Total Capital (to risk weighted assets): Consolidated $ 163,592 13.19 % $ 114,751 9.25 % No t Bank 158,824 12.81 % 114,692 9.25 % $ 123,992 10.00 % Tier 1 Capital (to risk weighted assets): Consolidated 149,394 12.04 % 89,940 7.25 % Not applicable Bank 144,626 11.66 % 89,894 7.25 % 99,193 8.00 % Tier 1 Capital (to average assets): Consolidated 149,394 11.53 % 51,809 4.00 % Not applicable Bank 144,626 11.17 % 51,770 4.00 % 64,713 5.00 % Tier 1 Common Equity Ratio (to risk weighted assets): Consolidated 125,888 10.15 % 71,332 5.75 % Not applicable Bank 144,626 11.66 % 71,295 5.75 % 80,595 6.50 % December 31, 2016 Total Capital (to risk weighted assets): Consolidated $ 154,335 13.59 % $ 97,949 8.625 % Not applicable Bank 149,278 13.23 % 97,295 8.625 % $ 112,805 10.00 % Tier 1 Capital (to risk weighted assets): Consolidated 141,206 12.43 % 75,236 6.625 % Not applicable Bank 136,148 12.07 % 74,734 6.625 % 90,244 8.00 % Tier 1 Capital (to average assets): Consolidated 141,206 11.48 % 49,183 4.00 % Not applicable Bank 136,148 11.08 % 49,144 4.00 % 61,430 5.00 % Tier 1 Common Equity Ratio (to risk weighted assets): Consolidated 117,755 10.37 % 58,201 5.125 % Not applicable Bank 136,148 12.07 % 57,813 5.125 % 73,323 6.50 % (a) The ratios for September 30, 2017 and December 31, 2016 include a capital conservation buffer of 1.25% and 0.625%, respectively. |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets measured at fair value on a recurring basis are summarized below: Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (dollars in thousands) September 30, 2017 Securities available for sale: Municipal securities $ — $ 37,879 $ — $ 37,879 Mortgage-backed securities — 69,363 — 69,363 Asset-backed securities — — — - Total assets at fair value $ — $ 107,242 $ — $ 107,242 December 31, 2016 Securities available for sale: U.S. government and agency securities $ — $ 1,000 $ — $ 1,000 Municipal securities — 45,456 — 45,456 Mortgage-backed securities — 73,308 — 73,308 Asset-backed securities — 3,673 — 3,673 Total assets at fair value $ — $ 123,437 $ — $ 123,437 |
Financial Instruments Carried on Consolidated Balance Sheet for Which Nonrecurring Change in Fair Value Has Been Recorded | The following table presents the financial instruments carried on the consolidated balance sheet by caption and by level in the fair value hierarchy for which a nonrecurring change in fair value has been recorded: Level 1 Inputs Level 2 Inputs Level 3 Inputs Impairment Losses (dollars in thousands) September 30, 2017 Impaired loans $ — $ — $ 32,962 $ 1,127 Other real estate owned — — 6,974 85 Total assets at fair value $ — $ — $ 39,936 $ 1,212 December 31, 2016 Impaired loans $ — $ — $ 20,104 $ 1,336 Other real estate owned — — 3,161 480 Total assets at fair value $ — $ — $ 23,265 $ 1,816 |
Significant Inputs Used in Fair Value Measurements for Level 3 Assets Measured on Nonrecurring Basis | The significant inputs used in the fair value measurements for Level 3 assets measured at fair value on a nonrecurring basis are as follows: September 30, 2017 Valuation Techniques Unobservable Inputs Range (Average) Impaired loans Evaluation of collateral Estimation of value NM* Other real estate owned Appraisal Appraisal adjustment 10%-41% (22%) December 31, 2016 Valuation Techniques Unobservable Inputs Range (Average) Impaired loans Evaluation of collateral Estimation of value NM* Other real estate owned Appraisal Appraisal adjustment 7%-39% (21%) |
Estimated Fair Values and Related Carrying or Notional Amounts of Financial Instruments | The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows: September 30, December 31, 2017 2016 Carrying Amount Fair Value Carrying Amount Fair Value Input Level (dollars in thousands) Financial assets: Cash and cash equivalents $ 71,795 $ 71,795 $ 42,679 $ 42,679 1 Securities available for sale 107,242 107,242 123,437 123,437 2 FHLB Stock 4,309 4,309 5,688 5,688 2 Loans, net of allowance for loan losses 1,112,976 1,117,970 1,017,841 1,022,391 3 Loans held for sale 2,054 2,054 1,162 1,162 3 Accrued interest receivable 3,847 3,847 3,151 3,151 2 Loan servicing rights 8,986 12,423 9,264 12,194 3 Financial liabilities: Deposits: Time 714,080 720,041 596,565 600,153 3 Other deposits 352,014 349,037 380,953 377,980 1 Other borrowings 1,352 1,352 2,152 2,152 3 Advances from FHLB 128,300 129,184 107,895 108,517 3 Subordinated debentures 15,506 15,506 15,451 15,451 3 Accrued interest payable 2,125 2,125 1,879 1,879 2 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Banking And Thrift [Abstract] | |
Schedule of Other Real Estate Owned | Changes in other real estate owned were as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (dollars in thousands) Balance, beginning of period $ 6,917 $ 2,789 $ 3,161 $ 2,872 Assets foreclosed 268 — 4,779 159 Assets acquired — — — 1,951 Assets transferred from premises and equipment — 397 397 Write-down of other real estate owned (7 ) (250 ) (85 ) (334 ) Net gain on sales of other real estate owned (39 ) 32 363 121 Proceeds from sale of other real estate owned (165 ) (272 ) (1,244 ) (2,470 ) Balance, end of period $ 6,974 $ 2,696 $ 6,974 $ 2,696 |
Expenses (Income) Applicable to Other Real Estate Owned Included in Non-Interest Expense | Expenses (income) applicable to other real estate owned included in non-interest expense include the following: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (dollars in thousands) Net gain on sales of other real estate owned $ 39 $ (32 ) $ (363 ) $ (121 ) Write-down of other real estate owned 7 250 85 334 Operating expenses, net of rental income 30 41 99 120 $ 76 $ 259 $ (179 ) $ 333 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Accounting Policies [Abstract] | |
Impairment charge to goodwill | $ 0 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Net income from continuing operations | $ 3,604 | $ 3,102 | $ 8,294 | $ 7,223 |
Less: preferred stock dividends | 91 | 80 | 257 | 261 |
Income available to common shareholders for basic earnings per common share | $ 3,513 | $ 3,022 | $ 8,037 | $ 6,962 |
Average number of common shares issued | 7,333,799 | 7,310,944 | 7,327,268 | 6,951,282 |
Less: weighted average treasury shares | 432,861 | 428,806 | 432,653 | 424,408 |
Less: weighted average nonvested equity incentive plan shares | 256,638 | 357,708 | 271,338 | 367,357 |
Weighted average number of common shares outstanding | 6,644,300 | 6,524,430 | 6,623,277 | 6,159,517 |
Effect of dilutive options | 112,904 | 94,924 | 119,371 | 97,485 |
Weighted average number of common shares outstanding used to calculate diluted earnings per common share | 6,757,204 | 6,619,354 | 6,742,648 | 6,257,002 |
Securities Available-for-Sale -
Securities Available-for-Sale - Schedule of Amortized Cost and Fair Value of Available for Sale of Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | $ 107,287 | $ 124,047 |
Unrealized Gains | 466 | 352 |
Unrealized Losses | (511) | (962) |
Fair Value | 107,242 | 123,437 |
Municipal securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 37,772 | 45,638 |
Unrealized Gains | 175 | 57 |
Unrealized Losses | (68) | (239) |
Fair Value | 37,879 | 45,456 |
Mortgage-backed securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 69,515 | 73,648 |
Unrealized Gains | 291 | 292 |
Unrealized Losses | (443) | (632) |
Fair Value | $ 69,363 | 73,308 |
Asset-backed securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 3,761 | |
Unrealized Gains | 3 | |
Unrealized Losses | (91) | |
Fair Value | 3,673 | |
U.S. Government and Agency Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 1,000 | |
Fair Value | $ 1,000 |
Securities Available-for-Sale37
Securities Available-for-Sale - Schedule of Amortized Cost and Fair Value of Securities Available for Sale by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Available For Sale Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 9,553 | $ 17,396 |
Due from one to five years, Amortized Cost | 19,268 | 25,960 |
Due from five to ten years, Amortized Cost | 8,951 | 7,043 |
Due after ten years, Amortized Cost | 0 | 0 |
Mortgage-backed securities, Amortized Cost | 69,515 | 73,648 |
Amortized Cost | 107,287 | 124,047 |
Due in one year or less, Fair Value | 9,554 | 17,311 |
Due from one to five years, Fair Value | 19,333 | 25,912 |
Due from five to ten years, Fair Value | 8,992 | 6,906 |
Due after ten years, Fair Value | 0 | 0 |
Mortgage-backed securities, Fair Value | 69,363 | 73,308 |
Fair Value | $ 107,242 | $ 123,437 |
Securities Available-for-Sale38
Securities Available-for-Sale - Additional Information (Detail) - USD ($) | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Schedule Of Available For Sale Securities [Line Items] | |||
Proceeds from sales of securities available for sale | $ 3,389,000 | $ 0 | |
Gross loss realized on sale of securities available for sale | 37,000 | ||
FHLB Stock, at cost | 4,309,000 | $ 5,688,000 | |
Reported Value Measurement | |||
Schedule Of Available For Sale Securities [Line Items] | |||
FHLB Stock, at cost | 4,300,000 | 5,700,000 | |
Reported Value Measurement | Collateralized FHLB Advances | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Available-for-sale Securities Pledged as Collateral | 0 | 0 | |
Reported Value Measurement | Federal Reserve Bank Line Of Credit | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Available-for-sale Securities Pledged as Collateral | $ 8,500,000 | $ 11,200,000 |
Securities Available-for-Sale39
Securities Available-for-Sale - Schedule of Fair Value and Gross Unrealized Losses of Entity's Investments (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | $ 41,046 | $ 76,388 |
Investments with unrealized losses less than 12 months, unrealized losses | (271) | (959) |
Investments with unrealized losses 12 months or greater, fair value | 14,139 | 604 |
Investments with unrealized losses 12 months or greater, unrealized losses | (240) | (3) |
Investments with unrealized losses, fair value | 55,185 | 76,992 |
Investments with unrealized losses, unrealized losses | (511) | (962) |
Municipal securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | 12,116 | 24,924 |
Investments with unrealized losses less than 12 months, unrealized losses | (50) | (236) |
Investments with unrealized losses 12 months or greater, fair value | 3,492 | 604 |
Investments with unrealized losses 12 months or greater, unrealized losses | (18) | (3) |
Investments with unrealized losses, fair value | 15,608 | 25,528 |
Investments with unrealized losses, unrealized losses | (68) | (239) |
Mortgage-backed securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | 28,930 | 48,719 |
Investments with unrealized losses less than 12 months, unrealized losses | (221) | (632) |
Investments with unrealized losses 12 months or greater, fair value | 10,647 | |
Investments with unrealized losses 12 months or greater, unrealized losses | (222) | |
Investments with unrealized losses, fair value | 39,577 | 48,719 |
Investments with unrealized losses, unrealized losses | $ (443) | (632) |
Asset-backed securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | 2,745 | |
Investments with unrealized losses less than 12 months, unrealized losses | (91) | |
Investments with unrealized losses, fair value | 2,745 | |
Investments with unrealized losses, unrealized losses | $ (91) |
Loans - Components of Loans (De
Loans - Components of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Loans And Leases Receivable Net Reported Amount [Abstract] | ||||
Agricultural loans | $ 675,856 | $ 624,632 | ||
Commercial real estate loans | 290,420 | 270,475 | ||
Commercial loans | 107,569 | 89,944 | ||
Residential real estate loans | 52,527 | 45,276 | ||
Installment and consumer other | 229 | 159 | ||
Total gross loans | 1,126,601 | 1,030,486 | ||
Allowance for loan losses | (13,625) | (12,645) | $ (11,626) | $ (10,405) |
Loans, net | $ 1,112,976 | $ 1,017,841 |
Loans - Changes in Allowance fo
Loans - Changes in Allowance for Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Accounts Notes And Loans Receivable [Line Items] | ||
Balance, beginning of year | $ 12,645 | $ 10,405 |
Provision for loan losses | 2,318 | 2,416 |
Loans charged off | (1,492) | (1,232) |
Recoveries | 154 | 37 |
Balance, end of period | 13,625 | 11,626 |
Agricultural | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Balance, beginning of year | 8,173 | 6,355 |
Provision for loan losses | 688 | 1,947 |
Loans charged off | (896) | |
Recoveries | 43 | 2 |
Balance, end of period | 8,904 | 7,408 |
Commercial Real Estate | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Balance, beginning of year | 2,762 | 2,237 |
Provision for loan losses | 733 | 419 |
Loans charged off | (575) | (50) |
Recoveries | 80 | 26 |
Balance, end of period | 3,000 | 2,632 |
Commercial | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Balance, beginning of year | 1,239 | 1,268 |
Provision for loan losses | 1,137 | 168 |
Loans charged off | (917) | (277) |
Recoveries | 31 | 9 |
Balance, end of period | 1,490 | 1,168 |
Residential Real Estate | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Balance, beginning of year | 470 | 533 |
Provision for loan losses | (241) | (118) |
Loans charged off | (5) | |
Balance, end of period | 229 | 410 |
Installment And Consumer Other | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Balance, beginning of year | 1 | 12 |
Provision for loan losses | 1 | (6) |
Loans charged off | (4) | |
Balance, end of period | $ 2 | 2 |
Unallocated | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Provision for loan losses | 6 | |
Balance, end of period | $ 6 |
Loans - Balances in Allowance f
Loans - Balances in Allowance for Loan Losses and Recorded Balance in Loans by Portfolio Segment and Based on Impairment Method (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | $ 32,962 | $ 20,104 |
Loans collectively evaluated for impairment | 1,080,014 | 997,737 |
Loans, net | 1,112,976 | 1,017,841 |
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 1,127 | 1,336 |
Allowance for loan losses collectively evaluated for impairment | 12,498 | 11,309 |
Total | 13,625 | 12,645 |
Loans: | ||
Loans individually evaluated for impairment | 34,089 | 21,440 |
Loans collectively evaluated for impairment | 1,092,512 | 1,009,046 |
Total gross loans | 1,126,601 | 1,030,486 |
Agricultural Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 884 | 546 |
Allowance for loan losses collectively evaluated for impairment | 8,020 | 7,627 |
Total | 8,904 | 8,173 |
Loans: | ||
Loans individually evaluated for impairment | 29,097 | 13,044 |
Loans collectively evaluated for impairment | 646,759 | 611,588 |
Total gross loans | 675,856 | 624,632 |
Commercial Real Estate Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 200 | 377 |
Allowance for loan losses collectively evaluated for impairment | 2,800 | 2,385 |
Total | 3,000 | 2,762 |
Loans: | ||
Loans individually evaluated for impairment | 3,834 | 4,952 |
Loans collectively evaluated for impairment | 286,586 | 265,523 |
Total gross loans | 290,420 | 270,475 |
Commercial Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 43 | 413 |
Allowance for loan losses collectively evaluated for impairment | 1,447 | 826 |
Total | 1,490 | 1,239 |
Loans: | ||
Loans individually evaluated for impairment | 1,158 | 3,376 |
Loans collectively evaluated for impairment | 106,411 | 86,568 |
Total gross loans | 107,569 | 89,944 |
Residential Real Estate Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses collectively evaluated for impairment | 229 | 470 |
Total | 229 | 470 |
Loans: | ||
Loans individually evaluated for impairment | 68 | |
Loans collectively evaluated for impairment | 52,527 | 45,208 |
Total gross loans | 52,527 | 45,276 |
Installment and consumer other | ||
Allowance for loan losses: | ||
Allowance for loan losses collectively evaluated for impairment | 2 | 1 |
Total | 2 | 1 |
Loans: | ||
Loans collectively evaluated for impairment | 229 | 159 |
Total gross loans | $ 229 | $ 159 |
Loans - Schedule of Aging of Re
Loans - Schedule of Aging of Recorded Investment in Past Due Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | $ 14,723 | $ 15,755 |
Loans Not Past Due | 1,111,878 | 1,014,731 |
Financing Receivables 30 To 59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 3,567 | 383 |
Financing Receivables 60 To 89 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 882 | 287 |
Financing Receivables Equal To Greater Than 90 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 10,274 | 15,085 |
Agricultural Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 9,951 | 9,692 |
Loans Not Past Due | 665,905 | 614,940 |
Agricultural Loans | Financing Receivables 30 To 59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 3,429 | 12 |
Agricultural Loans | Financing Receivables 60 To 89 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 258 | |
Agricultural Loans | Financing Receivables Equal To Greater Than 90 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 6,264 | 9,680 |
Commercial Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 3,516 | 2,997 |
Loans Not Past Due | 286,904 | 267,478 |
Commercial Real Estate Loans | Financing Receivables 60 To 89 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 624 | 287 |
Commercial Real Estate Loans | Financing Receivables Equal To Greater Than 90 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 2,892 | 2,710 |
Commercial Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 1,253 | 3,066 |
Loans Not Past Due | 106,316 | 86,878 |
Commercial Loans | Financing Receivables 30 To 59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 135 | 371 |
Commercial Loans | Financing Receivables Equal To Greater Than 90 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 1,118 | 2,695 |
Residential Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 3 | |
Loans Not Past Due | 52,524 | 45,276 |
Residential Real Estate Loans | Financing Receivables 30 To 59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 3 | |
Installment and consumer other | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Not Past Due | $ 229 | $ 159 |
Loans - Nonaccrual, Restructure
Loans - Nonaccrual, Restructured and Certain Past Due Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Nonaccrual loans, past due | $ 12,862 | $ 20,107 |
Restructured loans not on nonaccrual status | 8,087 | 4,300 |
Total | 20,949 | 24,407 |
Financing Receivables Equal To Greater Than 90 Days Past Due | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Nonaccrual loans, past due | 10,274 | 15,085 |
Financing Receivables 30 To 89 Days Past Due | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Nonaccrual loans, past due | 2,430 | 371 |
Financing Receivables 1 To 29 Days Past Due | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Nonaccrual loans, past due | $ 158 | $ 4,651 |
Loans - Recorded Investment in
Loans - Recorded Investment in Nonaccrual Loans and Loans Past Due 90 Days or More (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due 90 days or more | $ 12,862 | $ 20,107 |
Agricultural Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due 90 days or more | 8,228 | 12,323 |
Commercial Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due 90 days or more | 3,516 | 4,340 |
Commercial Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due 90 days or more | $ 1,118 | 3,376 |
Residential Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due 90 days or more | $ 68 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Accounts Notes And Loans Receivable [Line Items] | ||
Average recorded investment in total impaired loans | $ 27,800,000 | $ 25,900,000 |
Impaired loans on nonaccrual and restructured loans that are past due and still accruing | 90 days | |
Interest income recognized on total impaired loans | $ 300,000 | 400,000 |
Interest income recognized for nonaccrual loans | 700,000 | 1,500,000 |
Specific reserve to customers whose loan terms have been modified in TDR | 800,000 | 500,000 |
Additional lending commitments to customers with outstanding loans that are classified as TDRs | 0 | 0 |
Minimum exposure for annual internal credit review | 300,000 | |
TDR Loans | ||
Accounts Notes And Loans Receivable [Line Items] | ||
TDR loans, unfunded commitments | $ 0 | $ 0 |
Loans - TDRs by Loan Class (Det
Loans - TDRs by Loan Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Nonaccrual loans, past due | $ 12,862 | $ 20,107 | |
Restructured and Accruing | 8,087 | 4,300 | |
Total | 6,810 | $ 10,889 | |
TDR Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Nonaccrual loans, past due | 4,980 | 9,718 | |
Restructured and Accruing | 8,087 | 4,300 | |
Total | 13,067 | 14,018 | |
Agricultural Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Nonaccrual loans, past due | 8,228 | 12,323 | |
Total | 6,810 | 8,704 | |
Agricultural Loans | TDR Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Nonaccrual loans, past due | 4,356 | 7,947 | |
Restructured and Accruing | 7,729 | 3,925 | |
Total | 12,085 | 11,872 | |
Commercial Real Estate Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Nonaccrual loans, past due | 3,516 | 4,340 | |
Total | 553 | ||
Commercial Real Estate Loans | TDR Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Nonaccrual loans, past due | 624 | 1,400 | |
Restructured and Accruing | 318 | 325 | |
Total | 942 | 1,725 | |
Commercial Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Nonaccrual loans, past due | 1,118 | 3,376 | |
Total | $ 1,632 | ||
Commercial Loans | TDR Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Nonaccrual loans, past due | 371 | ||
Restructured and Accruing | 40 | 50 | |
Total | $ 40 | $ 421 |
Loans - Number of Loans Modifie
Loans - Number of Loans Modified in Troubled Debt Restructuring Investment by Class (Detail) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017USD ($)Loan | Sep. 30, 2016USD ($)Loan | |
Accounts Notes And Loans Receivable [Line Items] | ||
Number of Loans | Loan | 16 | 18 |
Recorded Investment | $ | $ 6,810 | $ 10,889 |
Agricultural Loans | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Number of Loans | Loan | 16 | 14 |
Recorded Investment | $ | $ 6,810 | $ 8,704 |
Commercial Real Estate Loans | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Number of Loans | Loan | 2 | |
Recorded Investment | $ | $ 553 | |
Commercial Loans | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Number of Loans | Loan | 2 | |
Recorded Investment | $ | $ 1,632 |
Loans - Summary of Troubled Deb
Loans - Summary of Troubled Debt Restructurings Grouped by Type of Concession (Detail) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017USD ($)Loan | Sep. 30, 2016USD ($)Loan | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 16 | 18 |
Recorded Investment | $ | $ 6,810 | $ 10,889 |
Agricultural Loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 16 | 14 |
Recorded Investment | $ | $ 6,810 | $ 8,704 |
Agricultural Loans | Payment Concessions | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 9 | 6 |
Recorded Investment | $ | $ 5,581 | $ 1,732 |
Agricultural Loans | Extension of Interest-Only Payments | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 6 | 5 |
Recorded Investment | $ | $ 908 | $ 1,243 |
Agricultural Loans | Combination of Extension of Term and Interest Rate Concessions | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 1 | 3 |
Recorded Investment | $ | $ 321 | $ 5,729 |
Commercial Real Estate Loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 2 | |
Recorded Investment | $ | $ 553 | |
Commercial Real Estate Loans | Extension of Interest-Only Payments | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 2 | |
Recorded Investment | $ | $ 553 | |
Commercial Loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 2 | |
Recorded Investment | $ | $ 1,632 | |
Commercial Loans | Extension of Interest-Only Payments | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 2 | |
Recorded Investment | $ | $ 1,632 |
Loans - Risk Category of Loans
Loans - Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Long Term Debt [Line Items] | ||
Agricultural loans | $ 675,856 | $ 624,632 |
Commercial real estate loans | 290,420 | 270,475 |
Commercial loans | 107,569 | 89,944 |
Residential real estate loans | 52,527 | 45,276 |
Installment and consumer other | 229 | 159 |
Total gross loans | 1,126,601 | 1,030,486 |
Sound/ Acceptable/ Satisfactory/ Low Satisfactory | ||
Long Term Debt [Line Items] | ||
Agricultural loans | 508,722 | 502,084 |
Commercial real estate loans | 225,807 | 225,038 |
Commercial loans | 88,132 | 74,221 |
Residential real estate loans | 48,623 | 40,556 |
Installment and consumer other | 229 | 159 |
Total gross loans | 871,513 | 842,058 |
Watch | ||
Long Term Debt [Line Items] | ||
Agricultural loans | 100,993 | 84,801 |
Commercial real estate loans | 43,907 | 27,368 |
Commercial loans | 12,741 | 6,624 |
Residential real estate loans | 3,784 | 4,151 |
Total gross loans | 161,425 | 122,944 |
Special Mention | ||
Long Term Debt [Line Items] | ||
Agricultural loans | 15,012 | 12,657 |
Commercial real estate loans | 7,300 | 378 |
Commercial loans | 1,144 | 1,632 |
Residential real estate loans | 501 | |
Total gross loans | 23,456 | 15,168 |
Substandard Performing | ||
Long Term Debt [Line Items] | ||
Agricultural loans | 41,923 | 12,046 |
Commercial real estate loans | 9,890 | 12,739 |
Commercial loans | 4,434 | 4,091 |
Total gross loans | 56,247 | 28,876 |
Substandard Impaired | ||
Long Term Debt [Line Items] | ||
Agricultural loans | 9,206 | 13,044 |
Commercial real estate loans | 3,516 | 4,952 |
Commercial loans | 1,118 | 3,376 |
Residential real estate loans | 120 | 68 |
Total gross loans | $ 13,960 | $ 21,440 |
Loan Servicing Rights - Additio
Loan Servicing Rights - Additional Information (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Servicing Assets at Fair Value [Line Items] | ||
Unpaid principal balance of mortgage | $ 594.6 | $ 577 |
Servicing assets and servicing liabilities at fair value, assumptions used to estimate fair value, discount rate | 10.00% | |
Level 3 Inputs | ||
Servicing Assets at Fair Value [Line Items] | ||
Loan servicing rights, fair value | $ 12.4 | $ 12.2 |
Minimum | ||
Servicing Assets at Fair Value [Line Items] | ||
Servicing assets and servicing liabilities at fair value, assumptions used to estimate fair value, Prepayment speed | 4.00% | |
Maximum | ||
Servicing Assets at Fair Value [Line Items] | ||
Servicing assets and servicing liabilities at fair value, assumptions used to estimate fair value, Prepayment speed | 9.00% |
Loan Servicing Rights - Summary
Loan Servicing Rights - Summary of Servicing Rights Capitalized and Amortized along with the Aggregate Activity in Related Valuation (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Transfers And Servicing [Abstract] | ||
Balance, beginning of period | $ 9,264 | $ 8,145 |
Additions | 1,831 | 4,794 |
Disposals | (474) | (1,552) |
Amortization | (1,635) | (2,123) |
Balance, end of period | $ 8,986 | $ 9,264 |
Goodwill and Core Deposit Int53
Goodwill and Core Deposit Intangible - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Goodwill And Intangible Assets [Line Items] | ||
Goodwill | $ 5,038 | $ 5,038 |
Fox River Valley | ||
Goodwill And Intangible Assets [Line Items] | ||
Goodwill | $ 5,000 | 5,000 |
Core Deposit | ||
Goodwill And Intangible Assets [Line Items] | ||
Intangible assets, amortization period on accelerated basis | 66 months | |
Accumulated amortization | $ 403 | 360 |
Core Deposit | Fox River Valley | ||
Goodwill And Intangible Assets [Line Items] | ||
Gross carrying amount of intangible assets | 1,801 | 1,801 |
Accumulated amortization | $ 763 | $ 360 |
Goodwill and Core Deposit Int54
Goodwill and Core Deposit Intangible - Core Deposit Intangible (Detail) - Core Deposit - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Sep. 30, 2017 | |
Core deposit intangible: | ||
Accumulated amortization | $ (360) | $ (403) |
Net book value | 1,441 | 1,038 |
Fox River Valley | ||
Core deposit intangible: | ||
Gross carrying amount | 1,801 | 1,801 |
Accumulated amortization | (360) | (763) |
Net book value | 1,441 | $ 1,038 |
Additions during the period | $ 1,801 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Deposits [Abstract] | ||
Demand deposits | $ 118,815 | $ 118,657 |
Savings | 233,199 | 262,296 |
Certificates of deposit | 714,080 | 596,565 |
Total deposits | $ 1,066,094 | $ 977,518 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Deposits [Abstract] | ||
Brokered deposits | $ 281.2 | $ 193.6 |
Advances From FHLB and Other 57
Advances From FHLB and Other Borrowings - Additional Information (Detail) - USD ($) | Sep. 14, 2017 | Sep. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | |||
Advances from FHLB | $ 128,300,000 | $ 107,895,000 | |
Irrevocable letters of credit | 0 | 0 | |
Other borrowings | 1,352,000 | 2,152,000 | |
Fox River Valley | |||
Debt Instrument [Line Items] | |||
Capital lease monthly rental payments | $ 15,000 | ||
Lease expiration date | Apr. 30, 2018 | ||
Capital lease obligations | $ 81,000 | 189,000 | |
Amortization of capital lease | 109,000 | 65,000 | |
Collateralized Loan Obligations | |||
Debt Instrument [Line Items] | |||
Other borrowings | 1,300,000 | 2,000,000 | |
Federal Reserve Bank Of Chicago | |||
Debt Instrument [Line Items] | |||
Available line-of-credit | 50,000,000 | 50,000,000 | |
Other borrowings | 0 | 0 | |
Federal Reserve Bank Of Chicago | Securities Pledged as Collateral | |||
Debt Instrument [Line Items] | |||
Available line-of-credit | 8,500,000 | $ 11,200,000 | |
U.S. Bank National Association | Revolving Line-of-Credit Facility | |||
Debt Instrument [Line Items] | |||
Line of credit facility agreement date | Sep. 14, 2017 | ||
Line of credit facility maximum borrowing capacity | $ 15,000,000 | ||
Line of credit, non-usage fee percentage per annum | 0.275% | ||
Line of credit amount outstanding | $ 0 | ||
U.S. Bank National Association | Revolving Line-of-Credit Facility | One month LIBOR | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 2.25% |
Advances from FHLB and Other 58
Advances from FHLB and Other Borrowings - Advances Outstanding from FHLB (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | ||
Advances from FHLB | $ 128,300 | $ 107,895 |
Fixed rate, short term, Advance for FHLB, 1 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jan. 3, 2017 | |
Advances from FHLB, Rate | 0.94% | |
Advances from FHLB | 595 | |
Fixed rate, fixed term, Advance for FHLB, 2 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Feb. 27, 2017 | |
Advances from FHLB, Rate | 0.76% | |
Advances from FHLB | 5,000 | |
Fixed rate, fixed term, Advance for FHLB, 3 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Mar. 15, 2017 | |
Advances from FHLB, Rate | 1.46% | |
Advances from FHLB | 2,000 | |
Fixed rate, fixed term, Advance for FHLB, 4 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jun. 16, 2017 | |
Advances from FHLB, Rate | 0.80% | |
Advances from FHLB | 10,000 | |
Fixed rate, fixed term, Advance for FHLB, 5 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Aug. 11, 2017 | |
Advances from FHLB, Rate | 0.83% | |
Advances from FHLB | 5,000 | |
Fixed rate, fixed term, Advance for FHLB, 6 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Nov. 15, 2017 | |
Advances from FHLB, Rate | 0.95% | |
Advances from FHLB | $ 3,800 | 3,800 |
Fixed rate, fixed term, Advance for FHLB, 7 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Dec. 29, 2017 | |
Advances from FHLB, Rate | 1.27% | |
Advances from FHLB | $ 3,000 | 3,000 |
Fixed rate, fixed term, Advance for FHLB, 8 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jan. 2, 2018 | |
Advances from FHLB, Rate | 1.23% | |
Advances from FHLB | $ 1,000 | 1,000 |
Fixed rate, fixed term, Advance for FHLB, 9 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jan. 12, 2018 | |
Advances from FHLB, Rate | 0.85% | |
Advances from FHLB | $ 8,000 | 8,000 |
Fixed rate, fixed term, Advance for FHLB, 10 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Feb. 12, 2018 | |
Advances from FHLB, Rate | 0.91% | |
Advances from FHLB | $ 5,000 | 5,000 |
Fixed rate, fixed term, Advance for FHLB, 11 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Apr. 23, 2018 | |
Advances from FHLB, Rate | 1.07% | |
Advances from FHLB | $ 2,300 | 2,300 |
Fixed rate, fixed term, Advance for FHLB, 12 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jun. 18, 2018 | |
Advances from FHLB, Rate | 0.93% | |
Advances from FHLB | $ 10,000 | 10,000 |
Fixed rate, fixed term, Advance for FHLB, 13 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jul. 9, 2018 | |
Advances from FHLB, Rate | 1.41% | |
Advances from FHLB | $ 15,000 | |
Fixed rate, fixed term, Advance for FHLB, 14 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jul. 16, 2018 | |
Advances from FHLB, Rate | 1.21% | |
Advances from FHLB | $ 762 | 762 |
Fixed rate, fixed term, Advance for FHLB, 15 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jul. 16, 2018 | |
Advances from FHLB, Rate | 1.21% | |
Advances from FHLB | $ 1,038 | 1,038 |
Fixed rate, fixed term, Advance for FHLB, 16 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Aug. 20, 2018 | |
Advances from FHLB, Rate | 1.15% | |
Advances from FHLB | $ 1,000 | 1,000 |
Fixed rate, fixed term, Advance for FHLB, 17 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Aug. 20, 2018 | |
Advances from FHLB, Rate | 1.15% | |
Advances from FHLB | $ 800 | 800 |
Fixed rate, fixed term, Advance for FHLB, 18 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Aug. 20, 2018 | |
Advances from FHLB, Rate | 1.27% | |
Advances from FHLB | $ 2,200 | 2,200 |
Fixed rate, fixed term, Advance for FHLB, 19 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Nov. 9, 2018 | |
Advances from FHLB, Rate | 1.47% | |
Advances from FHLB | $ 10,000 | |
Fixed rate, fixed term, Advance for FHLB, 20 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Dec. 31, 2018 | |
Advances from FHLB, Rate | 1.65% | |
Advances from FHLB | $ 3,000 | 3,000 |
Fixed rate, fixed term, Advance for FHLB, 21 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Feb. 27, 2019 | |
Advances from FHLB, Rate | 1.47% | |
Advances from FHLB | $ 5,000 | 5,000 |
Fixed rate, fixed term, Advance for FHLB, 22 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Mar. 8, 2019 | |
Advances from FHLB, Rate | 1.54% | |
Advances from FHLB | $ 10,000 | |
Fixed rate, fixed term, Advance for FHLB, 23 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jul. 15, 2019 | |
Advances from FHLB, Rate | 1.11% | |
Advances from FHLB | $ 8,000 | 8,000 |
Fixed rate, fixed term, Advance for FHLB, 24 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Aug. 14, 2019 | |
Advances from FHLB, Rate | 1.77% | |
Advances from FHLB | $ 2,000 | 2,000 |
Fixed rate, fixed term, Advance for FHLB, 25 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Feb. 20, 2020 | |
Advances from FHLB, Rate | 1.71% | |
Advances from FHLB | $ 5,000 | 5,000 |
Fixed rate, fixed term, Advance for FHLB, 26 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jul. 16, 2020 | |
Advances from FHLB, Rate | 1.85% | |
Advances from FHLB | $ 800 | 800 |
Fixed rate, fixed term, Advance for FHLB, 27 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Aug. 25, 2020 | |
Advances from FHLB, Rate | 1.84% | |
Advances from FHLB | $ 3,000 | 3,000 |
Fixed rate, fixed term, Advance for FHLB, 28 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Aug. 27, 2020 | |
Advances from FHLB, Rate | 1.88% | |
Advances from FHLB | $ 5,000 | 5,000 |
Fixed rate, fixed term, Advance for FHLB, 29 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Dec. 30, 2020 | |
Advances from FHLB, Rate | 2.09% | |
Advances from FHLB | $ 4,000 | 4,000 |
Fixed rate, fixed term, Advance for FHLB, 30 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Dec. 31, 2020 | |
Advances from FHLB, Rate | 1.94% | |
Advances from FHLB | $ 600 | 600 |
Fixed rate, fixed term, Advance for FHLB, 31 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Apr. 12, 2021 | |
Advances from FHLB, Rate | 1.92% | |
Advances from FHLB | $ 8,000 | |
Fixed rate, fixed term, Advance for FHLB, 32 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jun. 15, 2021 | |
Advances from FHLB, Rate | 1.39% | |
Advances from FHLB | $ 5,000 | 5,000 |
Fixed rate, fixed term, Advance for FHLB, 33 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Aug. 16, 2021 | |
Advances from FHLB, Rate | 2.29% | |
Advances from FHLB | $ 3,000 | 3,000 |
Fixed rate, fixed term, Advance for FHLB, 34 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Dec. 30, 2021 | |
Advances from FHLB, Rate | 2.29% | |
Advances from FHLB | $ 2,000 | $ 2,000 |
Advances from FHLB and Other 59
Advances from FHLB and Other Borrowings - Future Maturities of Borrowings (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Federal Home Loan Banks [Abstract] | ||
1 year or less | $ 53,900 | $ 29,395 |
1 to 2 years | 38,000 | 35,100 |
2 to 3 years | 13,800 | 15,000 |
3 to 4 years | 20,600 | 18,400 |
Over 4 years | 2,000 | 10,000 |
Advances from FHLB | $ 128,300 | $ 107,895 |
Advances from FHLB and Other 60
Advances from FHLB and Other Borrowings - Balances and Interest Rates on Other Borrowings (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Other Borrowings: | ||
Balance outstanding at end of period | $ 1,352 | $ 2,152 |
Average amount outstanding during the period | 1,618 | 3,047 |
Maximum amount outstanding at any month end | $ 1,825 | $ 3,930 |
Weighted average interest rate during the period | 5.84% | 5.30% |
Weighted average interest rate at end of period | 6.20% | 5.32% |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | 15 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Share-based compensation expense | $ 393 | $ 295 | |
Unrecognized share-based compensation expense related to nonvested options and restricted stock awards amounted | $ 700 | $ 700 | |
Maximum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Option term | 10 years | ||
Maximum | Equity Option | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Vesting period | 5 years | ||
Minimum | Equity Option | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Vesting period | 1 year | ||
Restricted Stock Awards | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Number of restricted stock granted under plan | 5,988 | ||
Restricted Stock Awards | Maximum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Vesting period | 5 years | ||
Restricted Stock Awards | Minimum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Vesting period | 1 year | ||
Stock Options And Restricted Stock [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Share-based compensation expense | $ 393 | $ 295 | |
Employee Stock Option | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Unrecognized share-based compensation expense related to nonvested options and restricted stock award amounted, weighted average period of recognition | 2 years 2 months 13 days | ||
2016 Long Term Incentive Plan | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Number of options granted under plan | 24,653 | 30,234 | |
2016 Long Term Incentive Plan | Restricted Stock Awards | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Number of restricted stock granted under plan | 30,234 |
Equity Incentive Plan - Status
Equity Incentive Plan - Status and Changes in Stock Option Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 15 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | ||
Number of Options | ||||
Options, Exercised | (65,026) | (45,493) | ||
2016 Long Term Incentive Plan | ||||
Number of Options | ||||
Options, Outstanding beginning of year | 291,059 | |||
Options, Granted | 24,653 | 30,234 | ||
Options, Exercised | (65,026) | |||
Options, Forfeited/expired | (4,868) | |||
Options, Outstanding end of period | 245,818 | 245,818 | ||
Options exercisable at period-end | 159,329 | 159,329 | ||
Weighted-Average Exercise Price | ||||
Weighted Average Exercise price, Outstanding, beginning of year | $ 15.18 | |||
Weighted Average Exercise Price, Granted | 26.27 | |||
Weighted Average Exercise Price, Exercised | 12.68 | |||
Weighted Average Exercise Price, Forfeited/expired | 21.69 | |||
Weighted Average Exercise Price, Outstanding, end of period | 16.83 | $ 16.83 | ||
Weighted Average Exercise Price, Options exercisable at period-end | 14.67 | $ 14.67 | ||
Weighted-average fair value of options granted during the period | [1] | $ 9.54 | ||
Aggregate Intrinsic Value | ||||
Aggregate Intrinsic Value, Outstanding, end of period | [2] | $ 3,250 | $ 3,250 | |
Aggregate Intrinsic Value, Options exercisable at period-end | [2] | $ 2,450 | $ 2,450 | |
[1] | The fair value (present value of the estimated future benefit to the option holder) of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. | |||
[2] | 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 September 30, 2017. This amount changes based on changes in the market value of the Company’s stock. |
Equity Incentive Plan - Activit
Equity Incentive Plan - Activity in Restricted Stock Awards and Restricted Stock Units (Detail) | 9 Months Ended |
Sep. 30, 2017$ / sharesshares | |
RSAs | |
Number of Non-Vested Shares | |
Outstanding, beginning of year | shares | 38,593 |
Granted | shares | 5,988 |
Vested | shares | (2,416) |
Forfeited/expired | shares | (948) |
Outstanding, end of period | shares | 41,217 |
Weighted Average Grant Date Fair Value | |
Weighted Average Grant Price Outstanding, Beginning of year | $ / shares | $ 17.27 |
Weighted Average Grant Price Outstanding, Granted | $ / shares | 27.31 |
Weighted Average Grant Price, Vested | $ / shares | 19.77 |
Weighted Average Grant Price, Forfeited or expired | $ / shares | 27.31 |
Weighted Average Grant Price Outstanding, End of year | $ / shares | $ 18.35 |
RSUs | |
Number of Non-Vested Shares | |
Granted | shares | 8,691 |
Outstanding, end of period | shares | 8,691 |
Weighted Average Grant Date Fair Value | |
Weighted Average Grant Price Outstanding, Granted | $ / shares | $ 25.53 |
Weighted Average Grant Price Outstanding, End of year | $ / shares | $ 25.53 |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Actual Capital Amounts and Ratios of Company's and Bank's (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total Capital (to risk weighted assets), Actual Amount | $ 163,592 | $ 154,335 | |
Total Capital (to risk weighted assets), Actual Ratio | 13.19% | 13.59% | |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Amount | [1] | $ 114,751 | $ 97,949 |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Ratio | [1] | 9.25% | 8.625% |
Tier 1 Capital (to risk weighted assets), Actual Amount | $ 149,394 | $ 141,206 | |
Tier 1 Capital (to risk weighted assets), Actual Ratio | 12.04% | 12.43% | |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | [1] | $ 89,940 | $ 75,236 |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | [1] | 7.25% | 6.625% |
Tier 1 Capital (to average assets), Actual Amount | $ 149,394 | $ 141,206 | |
Tier 1 Capital (to average assets), Actual Ratio | 11.53% | 11.48% | |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Amount | [1] | $ 51,809 | $ 49,183 |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Ratio | [1] | 4.00% | 4.00% |
Tier 1 Common Equity (to risk weighted assets), Actual Amount | $ 125,888 | $ 117,755 | |
Tier 1 Common Equity (to risk weighted assets), Actual Ratio | 10.15% | 10.37% | |
Tier 1 Common Equity (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | [1] | $ 71,332 | $ 58,201 |
Tier 1 Common Equity (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | [1] | 5.75% | 5.125% |
Bank | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total Capital (to risk weighted assets), Actual Amount | $ 158,824 | $ 149,278 | |
Total Capital (to risk weighted assets), Actual Ratio | 12.81% | 13.23% | |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Amount | [1] | $ 114,692 | $ 97,295 |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Ratio | [1] | 9.25% | 8.625% |
Total Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 123,992 | $ 112,805 | |
Total Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% | |
Tier 1 Capital (to risk weighted assets), Actual Amount | $ 144,626 | $ 136,148 | |
Tier 1 Capital (to risk weighted assets), Actual Ratio | 11.66% | 12.07% | |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | [1] | $ 89,894 | $ 74,734 |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | [1] | 7.25% | 6.625% |
Tier 1 Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 99,193 | $ 90,244 | |
Tier 1 Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% | |
Tier 1 Capital (to average assets), Actual Amount | $ 144,626 | $ 136,148 | |
Tier 1 Capital (to average assets), Actual Ratio | 11.17% | 11.08% | |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Amount | [1] | $ 51,770 | $ 49,144 |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Ratio | [1] | 4.00% | 4.00% |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Amount | $ 64,713 | $ 61,430 | |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% | |
Tier 1 Common Equity (to risk weighted assets), Actual Amount | $ 144,626 | $ 136,148 | |
Tier 1 Common Equity (to risk weighted assets), Actual Ratio | 11.66% | 12.07% | |
Tier 1 Common Equity (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | [1] | $ 71,295 | $ 57,813 |
Tier 1 Common Equity (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | [1] | 5.75% | 5.125% |
Tier 1 Common Equity (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 80,595 | $ 73,323 | |
Tier 1 Common Equity (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | 6.50% | |
[1] | The ratios for September 30, 2017 and December 31, 2016 include a capital conservation buffer of 1.25% and 0.625%, respectively. |
Fair Value Measurements - Asset
Fair Value Measurements - Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | $ 107,242 | $ 123,437 |
Fair Value on a Recurring Basis | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 107,242 | 123,437 |
Fair Value on a Recurring Basis | U.S. Government and Agency Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 1,000 | |
Fair Value on a Recurring Basis | Municipal securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 37,879 | 45,456 |
Fair Value on a Recurring Basis | Mortgage-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 69,363 | 73,308 |
Fair Value on a Recurring Basis | Asset-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 3,673 | |
Fair Value on a Recurring Basis | Level 2 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 107,242 | 123,437 |
Fair Value on a Recurring Basis | Level 2 Inputs | U.S. Government and Agency Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 1,000 | |
Fair Value on a Recurring Basis | Level 2 Inputs | Municipal securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 37,879 | 45,456 |
Fair Value on a Recurring Basis | Level 2 Inputs | Mortgage-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | $ 69,363 | 73,308 |
Fair Value on a Recurring Basis | Level 2 Inputs | Asset-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | $ 3,673 |
Fair Value Measurements - Finan
Fair Value Measurements - Financial Instruments Carried on Consolidated Balance Sheet for Which Nonrecurring Change in Fair Value Has Been Recorded (Detail) - Fair Value on a Nonrecurring Basis - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impairment Losses | $ 1,212 | $ 1,816 |
Impaired Loans | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impairment Losses | 1,127 | 1,336 |
Other Real Estate Owned | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impairment Losses | 85 | 480 |
Level 3 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 39,936 | 23,265 |
Level 3 Inputs | Impaired Loans | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 32,962 | 20,104 |
Level 3 Inputs | Other Real Estate Owned | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 6,974 | $ 3,161 |
Fair Value Measurements - Signi
Fair Value Measurements - Significant Inputs Used in Fair Value Measurements for Level 3 Assets Measured on Nonrecurring Basis (Detail) - Level 3 Inputs | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Impaired Loans | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Valuation Techniques | Evaluation of collateral | Evaluation of collateral |
Unobservable Inputs | Estimation of value | Estimation of value |
Other Real Estate Owned | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Valuation Techniques | Appraisal | Appraisal |
Unobservable Inputs | Appraisal adjustment | Appraisal adjustment |
Other Real Estate Owned | Minimum | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Range (Average) | 10.00% | 7.00% |
Other Real Estate Owned | Maximum | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Range (Average) | 41.00% | 39.00% |
Other Real Estate Owned | Weighted Average | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Range (Average) | 22.00% | 21.00% |
Fair Value Measurements - Estim
Fair Value Measurements - Estimated Fair Values and Related Carrying or Notional Amounts of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financial assets: | ||
Securities available for sale | $ 107,242 | $ 123,437 |
Level 3 Inputs | ||
Financial assets: | ||
Loan servicing rights | 12,400 | 12,200 |
Carrying Amount | ||
Financial assets: | ||
Cash and cash equivalents | 71,795 | 42,679 |
Securities available for sale | 107,242 | 123,437 |
FHLB Stock | 4,309 | 5,688 |
Loans, net of allowance for loan losses | 1,112,976 | 1,017,841 |
Loans held for sale | 2,054 | 1,162 |
Accrued interest receivable | 3,847 | 3,151 |
Loan servicing rights | 8,986 | 9,264 |
Financial liabilities: | ||
Other borrowings | 1,352 | 2,152 |
Advances from FHLB | 128,300 | 107,895 |
Subordinated debentures | 15,506 | 15,451 |
Accrued interest payable | 2,125 | 1,879 |
Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 71,795 | 42,679 |
Securities available for sale | 107,242 | 123,437 |
FHLB Stock | 4,309 | 5,688 |
Loans, net of allowance for loan losses | 1,117,970 | 1,022,391 |
Loans held for sale | 2,054 | 1,162 |
Accrued interest receivable | 3,847 | 3,151 |
Loan servicing rights | 12,423 | 12,194 |
Financial liabilities: | ||
Other borrowings | 1,352 | 2,152 |
Advances from FHLB | 129,184 | 108,517 |
Subordinated debentures | 15,506 | 15,451 |
Accrued interest payable | 2,125 | 1,879 |
Fair Value | Level 1 Inputs | ||
Financial assets: | ||
Cash and cash equivalents | 71,795 | 42,679 |
Fair Value | Level 2 Inputs | ||
Financial assets: | ||
Securities available for sale | 107,242 | 123,437 |
FHLB Stock | 4,309 | 5,688 |
Accrued interest receivable | 3,847 | 3,151 |
Financial liabilities: | ||
Accrued interest payable | 2,125 | 1,879 |
Fair Value | Level 3 Inputs | ||
Financial assets: | ||
Loans, net of allowance for loan losses | 1,117,970 | 1,022,391 |
Loans held for sale | 2,054 | 1,162 |
Loan servicing rights | 12,423 | 12,194 |
Financial liabilities: | ||
Other borrowings | 1,352 | 2,152 |
Advances from FHLB | 129,184 | 108,517 |
Subordinated debentures | 15,506 | 15,451 |
Bank Time Deposits | Carrying Amount | ||
Financial liabilities: | ||
Deposits | 714,080 | 596,565 |
Bank Time Deposits | Fair Value | ||
Financial liabilities: | ||
Deposits | 720,041 | 600,153 |
Bank Time Deposits | Fair Value | Level 3 Inputs | ||
Financial liabilities: | ||
Deposits | 720,041 | 600,153 |
Other Deposits | Carrying Amount | ||
Financial liabilities: | ||
Deposits | 352,014 | 380,953 |
Other Deposits | Fair Value | ||
Financial liabilities: | ||
Deposits | 349,037 | 377,980 |
Other Deposits | Fair Value | Level 1 Inputs | ||
Financial liabilities: | ||
Deposits | $ 349,037 | $ 377,980 |
Other Real Estate Owned - Summa
Other Real Estate Owned - Summary of Changes in Other Real Estate Owned (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Real Estate Owned Disclosure Of Detailed Components [Abstract] | ||||
Balance, beginning of period | $ 6,917 | $ 2,789 | $ 3,161 | $ 2,872 |
Assets foreclosed | 268 | 4,779 | 159 | |
Assets acquired | 1,951 | |||
Assets transferred from premises and equipment | 397 | 397 | ||
Write-down of other real estate owned | (7) | (250) | (85) | (334) |
Net gain on sales of other real estate owned | (39) | 32 | 363 | 121 |
Proceeds from sale of other real estate owned | (165) | (272) | (1,244) | (2,470) |
Balance, end of period | $ 6,974 | $ 2,696 | $ 6,974 | $ 2,696 |
Other Real Estate Owned - Expen
Other Real Estate Owned - Expenses (Income) Applicable to Other Real Estate Owned Included in Non-Interest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Real Estate Owned Disclosure Of Detailed Components [Abstract] | ||||
Net gain on sales of other real estate owned | $ 39 | $ (32) | $ (363) | $ (121) |
Write-down of other real estate owned | 7 | 250 | 85 | 334 |
Operating expenses, net of rental income | 30 | 41 | 99 | 120 |
Total Expenses | $ 76 | $ 259 | $ (179) | $ 333 |