Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 08, 2019 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | County Bancorp, Inc. | |
Entity Central Index Key | 0001470205 | |
Trading Symbol | ICBK | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Shell Company | false | |
Entity Ex Transition Period | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Current Reporting Status | Yes | |
Entity File Number | 001-36808 | |
Entity Tax Identification Number | 391850431 | |
Entity Address, Address Line One | 2400 South 44th Street | |
Entity Address, City or Town | Manitowoc | |
Entity Address, State or Province | WI | |
Entity Address, Postal Zip Code | 54221 | |
City Area Code | 920 | |
Local Phone Number | 686-9998 | |
Entity Common Stock, Shares Outstanding | 6,727,908 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and cash equivalents | $ 116,251 | $ 61,087 |
Securities available-for-sale, at fair value | 158,561 | 195,945 |
FHLB Stock | 2,178 | 2,978 |
Loans held for sale | 7,448 | 2,949 |
Loans, net of allowance for loan losses of $16,258 as of June 30, 2019; $16,505 as of December 31, 2018 | 1,131,574 | 1,190,790 |
Premises and equipment, net | 15,713 | 16,075 |
Loan servicing rights | 9,621 | 9,047 |
Other real estate owned, net | 8,693 | 6,568 |
Cash surrender value of bank owned life insurance | 18,067 | 17,842 |
Deferred tax asset, net | 1,942 | 4,346 |
Goodwill | 5,038 | 5,038 |
Accrued interest receivable and other assets | 9,206 | 7,849 |
Total assets | 1,484,646 | 1,521,027 |
Deposits: | ||
Noninterest-bearing | 111,022 | 121,436 |
Interest-bearing | 1,094,155 | 1,101,911 |
Total deposits | 1,205,177 | 1,223,347 |
Other borrowings | 809 | 827 |
Advances from FHLB | 59,400 | 89,400 |
Subordinated debentures | 44,781 | 44,703 |
Accrued interest payable and other liabilities | 11,755 | 10,466 |
Total liabilities | 1,321,922 | 1,368,743 |
SHAREHOLDERS' EQUITY | ||
Preferred stock- $1,000 stated value; 15,000 shares authorized; 8,000 shares issued | 8,000 | 8,000 |
Common stock - $0.01 par value; 50,000,000 authorized; 7,161,828 shares issued and 6,717,908 shares outstanding at June 30, 2019; 7,153,174 shares issued and 6,709,480 shares outstanding as of December 31, 2018 | 28 | 28 |
Surplus | 53,484 | 53,162 |
Retained earnings | 105,035 | 98,475 |
Treasury stock, at cost; 443,920 shares at June 30, 2019; 443,694 shares at December 31, 2018 | (5,030) | (5,030) |
Accumulated other comprehensive gain (loss) | 1,207 | (2,351) |
Total shareholders' equity | 162,724 | 152,284 |
Total liabilities and shareholders' equity | 1,484,646 | 1,521,027 |
Core Deposit | ||
ASSETS | ||
Core deposit intangible, net of accumulated amortization of $1,447 as of June 30, 2019; $1,288 as of December 31, 2018 | $ 354 | $ 513 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Allowance for loan losses | $ 16,258 | $ 16,505 |
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 | 7,161,828 | 7,153,174 |
Common Stock, shares outstanding | 6,717,908 | 6,709,480 |
Treasury Stock, shares | 443,920 | 443,694 |
Core Deposit | ||
Core deposit intangible, amortization | $ 1,447 | $ 1,288 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans, including fees | $ 15,484 | $ 14,366 | $ 30,985 | $ 28,057 |
Taxable securities | 1,177 | 982 | 2,363 | 1,614 |
Tax-exempt securities | 82 | 14 | 257 | 171 |
Federal funds sold and other | 465 | 401 | 729 | 614 |
Total interest and dividend income | 17,208 | 15,763 | 34,334 | 30,456 |
INTEREST EXPENSE | ||||
Deposits | 5,678 | 4,600 | 11,102 | 8,396 |
FHLB advances and other borrowed funds | 415 | 487 | 879 | 971 |
Subordinated debentures | 683 | 338 | 1,361 | 481 |
Total interest expense | 6,776 | 5,425 | 13,342 | 9,848 |
Net interest income | 10,432 | 10,338 | 20,992 | 20,608 |
Provision for loan losses | 876 | 533 | 1,628 | 630 |
Net interest income after provision for loan losses | 9,556 | 9,805 | 19,364 | 19,978 |
NON-INTEREST INCOME | ||||
Gain on sale of loans, net | 26 | 45 | 25 | 77 |
Other | 545 | 213 | 1,196 | 394 |
Total non-interest income | 2,887 | 2,316 | 5,637 | 4,356 |
NON-INTEREST EXPENSE | ||||
Employee compensation and benefits | 4,199 | 4,114 | 8,681 | 8,332 |
Occupancy | 283 | 278 | 672 | 482 |
Information processing | 591 | 529 | 1,154 | 994 |
Write-down of other real estate owned | 250 | 104 | 250 | 104 |
Other | 2,123 | 1,912 | 3,994 | 3,810 |
Total non-interest expense | 7,446 | 6,937 | 14,751 | 13,722 |
Income before income taxes | 4,997 | 5,184 | 10,250 | 10,612 |
Income tax expense | 1,293 | 1,334 | 2,784 | 2,708 |
NET INCOME | $ 3,704 | $ 3,850 | $ 7,466 | $ 7,904 |
NET INCOME PER SHARE: | ||||
Basic | $ 0.53 | $ 0.56 | $ 1.07 | $ 1.15 |
Diluted | 0.53 | 0.55 | 1.07 | 1.14 |
Dividends paid per share | $ 0.05 | $ 0.07 | $ 0.10 | $ 0.14 |
Services Charges | ||||
NON-INTEREST INCOME | ||||
Non-interest income | $ 407 | $ 445 | $ 760 | $ 810 |
Loan Servicing Fees | ||||
NON-INTEREST INCOME | ||||
Non-interest income | $ 1,909 | $ 1,613 | $ 3,656 | $ 3,075 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 3,704 | $ 3,850 | $ 7,466 | $ 7,904 |
Other comprehensive income: | ||||
Unrealized gain (loss) on securities available-for-sale | 2,717 | (373) | 6,369 | (2,772) |
Income tax benefit (expense) | (740) | 80 | (1,735) | 594 |
Reclassification for realized gains on securities | (341) | (341) | ||
Income tax benefit (expense) | 93 | 93 | ||
Total other comprehensive income (loss) on securities available-for-sale | 1,729 | (293) | 4,386 | (2,178) |
Unrealized gain (loss) on derivatives arising during the period | (653) | 51 | (1,137) | 51 |
Income tax benefit (expense) | 180 | (14) | 309 | (14) |
Total other comprehensive income (loss) on derivatives | (476) | 37 | (828) | 37 |
Total other comprehensive income (loss) | 1,253 | (256) | 3,558 | (2,141) |
Comprehensive income | $ 4,957 | $ 3,594 | $ 11,024 | $ 5,763 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Total | Preferred Stock | Common Stock | Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) |
Balance at Dec. 31, 2017 | $ 140,986 | $ 8,000 | $ 28 | $ 52,230 | $ 86,385 | $ (5,030) | $ (627) |
Net income | 4,054 | 4,054 | |||||
Other comprehensive income (loss) | (1,885) | (1,885) | |||||
Stock compensation expense | 117 | 117 | |||||
Cash dividends declared on common stock | (468) | (468) | |||||
Cash dividends declared on preferred stock | (97) | (97) | |||||
Reclassification of par value to surplus | (21) | 21 | |||||
Reclassification of stranded tax effects of rate change | 126 | (126) | |||||
Proceeds from exercise of common stock options | 107 | 107 | |||||
Balance at Mar. 31, 2018 | 142,814 | 8,000 | 7 | 52,475 | 90,000 | (5,030) | (2,638) |
Balance at Dec. 31, 2017 | 140,986 | 8,000 | 28 | 52,230 | 86,385 | (5,030) | (627) |
Net income | 7,904 | ||||||
Other comprehensive income (loss) | (2,141) | ||||||
Balance at Jun. 30, 2018 | 146,082 | 8,000 | 28 | 52,696 | 93,282 | (5,030) | (2,894) |
Balance at Mar. 31, 2018 | 142,814 | 8,000 | 7 | 52,475 | 90,000 | (5,030) | (2,638) |
Net income | 3,850 | 3,850 | |||||
Other comprehensive income (loss) | (256) | (256) | |||||
Stock compensation expense | 142 | 142 | |||||
Cash dividends declared on common stock | (469) | (469) | |||||
Cash dividends declared on preferred stock | (99) | (99) | |||||
Reclassification of par value to surplus | 21 | (21) | |||||
Proceeds from exercise of common stock options | 100 | 100 | |||||
Balance at Jun. 30, 2018 | 146,082 | 8,000 | 28 | 52,696 | 93,282 | (5,030) | (2,894) |
Balance at Dec. 31, 2018 | 152,284 | 8,000 | 28 | 53,162 | 98,475 | (5,030) | (2,351) |
Net income | 3,762 | 3,762 | |||||
Other comprehensive income (loss) | 2,305 | 2,305 | |||||
Stock compensation expense | 118 | 118 | |||||
Cash dividends declared on common stock | (335) | (335) | |||||
Cash dividends declared on preferred stock | (117) | (117) | |||||
Balance at Mar. 31, 2019 | 158,017 | 8,000 | 28 | 53,280 | 101,785 | (5,030) | (46) |
Balance at Dec. 31, 2018 | 152,284 | 8,000 | 28 | 53,162 | 98,475 | (5,030) | (2,351) |
Net income | 7,466 | ||||||
Other comprehensive income (loss) | 3,558 | ||||||
Balance at Jun. 30, 2019 | 162,724 | 8,000 | 28 | 53,484 | 105,035 | (5,030) | 1,207 |
Balance at Mar. 31, 2019 | 158,017 | 8,000 | 28 | 53,280 | 101,785 | (5,030) | (46) |
Net income | 3,704 | 3,704 | |||||
Other comprehensive income (loss) | 1,253 | 1,253 | |||||
Stock compensation expense | 144 | 144 | |||||
Cash dividends declared on common stock | (336) | (336) | |||||
Cash dividends declared on preferred stock | (118) | (118) | |||||
Proceeds from exercise of common stock options | 60 | 60 | |||||
Balance at Jun. 30, 2019 | $ 162,724 | $ 8,000 | $ 28 | $ 53,484 | $ 105,035 | $ (5,030) | $ 1,207 |
CONSOLIDATED STATEMENTS OF SH_2
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - shares | 3 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | |
Statement Of Stockholders Equity [Abstract] | |||
Options, exercised | 5,000 | 9,640 | 2,952 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities | ||
Net income | $ 7,466,000 | $ 7,904,000 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Depreciation and amortization of premises and equipment | 687,000 | 560,000 |
Amortization of core deposit intangible | 159,000 | 218,000 |
Amortization of subordinated debentures discount | 78,000 | 34,000 |
Provision for loan losses | 1,628,000 | 630,000 |
Realized gain on sales of securities available-for-sale | (341,000) | |
Realized gain on sales of other real estate owned | (127,000) | (149,000) |
Write-down of other real estate owned | 250,000 | 104,000 |
Realized gain on sales of premises and equipment | (2,000) | (1,000) |
Increase in cash surrender value of bank owned life insurance | (225,000) | (225,000) |
Deferred income tax expense (benefit) | 762,000 | (373,000) |
Stock compensation expense, net | 262,000 | 259,000 |
Net amortization of securities | 243,000 | 445,000 |
Net change in: | ||
Accrued interest receivable and other assets | (1,357,000) | (1,057,000) |
Loans held for sale | (4,499,000) | (4,893,000) |
Loan servicing rights | (574,000) | (137,000) |
Accrued interest payable and other liabilities | 462,000 | 839,000 |
Net cash provided by operating activities | 4,872,000 | 4,158,000 |
Cash flows from investing activities | ||
Proceeds from maturities, principal repayments, and call of securities available-for-sale | 14,149,000 | 11,958,000 |
Purchases of securities available-for-sale | (76,684,000) | |
Proceeds from sales of securities available-for-sale | 29,361,000 | 0 |
Redemption of FHLB stock | 800,000 | 784,000 |
Loan originations and principal collections, net | 52,295,000 | (37,425,000) |
Proceeds from sales of premises and equipment | 4,000 | |
Purchases of premises and equipment | (327,000) | (5,464,000) |
Proceeds from sales of other real estate owned | 3,044,000 | 2,107,000 |
Net cash provided by (used in) investing activities | 99,326,000 | (104,724,000) |
Cash flows from financing activities | ||
Net increase (decrease) in demand and savings deposits | 13,319,000 | (27,247,000) |
Net increase (decrease) in certificates of deposits | (31,489,000) | 127,602,000 |
Net change in other borrowings | (18,000) | (458,000) |
Proceeds from FHLB advances | 115,000,000 | 63,000,000 |
Repayment of FHLB advances | (145,000,000) | (76,300,000) |
Proceeds from issuance of subordinated debt | 29,168,000 | |
Proceeds from issuance of common stock | 60,000 | 207,000 |
Dividends paid on common stock | (671,000) | (937,000) |
Dividends paid on preferred stock | (235,000) | (196,000) |
Net cash provided by (used for) financing activities | (49,034,000) | 114,839,000 |
Net change in cash and cash equivalents | 55,164,000 | 14,273,000 |
Cash and cash equivalents, beginning of period | 61,087,000 | 66,771,000 |
Cash and cash equivalents, end of period | 116,251,000 | 81,044,000 |
Cash paid during the period for: | ||
Interest | 12,346,000 | 9,538,000 |
Income taxes | 1,975,000 | |
Noncash investing activities: | ||
Transfer from loans to other real estate owned | 5,292,000 | 6,104,000 |
Loans charged off | $ 3,584,000 | $ 42,000 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2019 | |
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 three and six months ended June 30, 2019. The results of operations for the three and six months ended June 30, 2019 may not necessarily be indicative of the results to be expected for the year ending December 31, 2019, 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, 2018. 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 June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) In February 2016, the FASB issued ASU No. 2016-02, Leases: Amendments to the FASB Accounting Standards Codification In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842) – Targeted Improvements , which provided an additional and optional transition method with which to adopt the new leases standard. The updated ASU allows entities to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The amendment became effective January 1, 2019, and was adopted by the Company retrospectively to the beginning of the adoption period. Since all of the Company’s leases are operating leases, there was no impact to the consolidated statements of operations; however, a right-of-use asset of $0.2 million and a corresponding liability were recorded on the Company’s balance sheet as of the effective date of the amendment. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 842) – Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement |
EARNINGS PER SHARE
EARNINGS PER SHARE | 6 Months Ended |
Jun. 30, 2019 | |
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 Six Months Ended June 30, June 30, 2019 2018 2019 2018 (dollars in thousands) Net income from continuing operations $ 3,704 $ 3,850 $ 7,466 $ 7,904 Less: preferred stock dividends 118 99 235 196 Income available to common shareholders for basic earnings per common share $ 3,586 $ 3,751 $ 7,231 $ 7,708 Weighted average number of common shares issued 7,159,072 7,351,985 7,156,139 7,349,923 Less: weighted average treasury shares 443,920 442,102 443,825 440,974 Plus: weighted average of participating restricted stock units 30,483 219,315 23,411 224,550 Weighted average number of common shares and participating securities outstanding 6,745,635 6,690,568 6,735,725 6,684,399 Effect of dilutive options 20,731 79,368 21,170 77,518 Weighted average number of common shares outstanding used to calculate diluted earnings per common share 6,766,366 6,769,936 6,756,895 6,761,917 Weighted average of anti-dilutive options 133,147 - 131,729 - |
SECURITIES AVAILABLE-FOR-SALE
SECURITIES AVAILABLE-FOR-SALE | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 and December 31, 2018 were as follows: Amortized Unrealized Unrealized Fair Cost Gains Losses Value (dollars in thousands) June 30, 2019 U.S. government and agency securities $ 3,731 $ — $ (32 ) $ 3,699 U.S. treasury securities 2,498 9 — 2,507 Mortgage-backed securities 149,356 3,263 (264 ) 152,355 $ 155,585 $ 3,272 $ (296 ) $ 158,561 December 31, 2018 U.S. government and agency securities $ 4,368 $ — $ (37 ) $ 4,331 U.S. treasury securities 2,497 — (6 ) 2,491 Municipal securities 34,985 33 (498 ) 34,520 Mortgage-backed securities 157,147 203 (2,747 ) 154,603 $ 198,997 $ 236 $ (3,288 ) $ 195,945 The amortized cost and fair value of securities at June 30, 2019 and December 31, 2018, 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) June 30, 2019 Due in one year or less $ 2,498 $ 2,507 Due from one to five years — — Due from five to ten years 3,731 3,699 Due after ten years — — Mortgage-backed securities 149,356 152,355 $ 155,585 $ 158,561 December 31, 2018 Due in one year or less $ 5,848 $ 5,843 Due from one to five years 11,113 10,974 Due from five to ten years 8,458 8,382 Due after ten years 16,431 16,143 Mortgage-backed securities 157,147 154,603 $ 198,997 $ 195,945 Proceeds from the sale of available-for-sale securities were $29.4 million which resulted in a gain of $0.3 million for the six months ended June 30, 2019. There were no security sales for the six months ended June 30, 2018. At June 30, 2019 and December 31, 2018, no securities were pledged to secure the Federal Home Loan Bank ( “FHLB” ) advances besides FHLB stock of $2.2 million and $3.0 million, respectively . There were no securities pledged to secure the Federal Reserve Bank line of credit at June 30, 2019 and December 31, 2018; however, there were $45.5 million and $53.4 million of securities pledged to secure municipial customer deposts at June 30, 2019 and December 31, 2018, 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 June 30, 2019 and December 31, 2018: Less Than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (dollars in thousands) June 30, 2019 U.S. government and agency securities $ — $ — $ 3,699 $ (32 ) 3,699 (32 ) Mortgage-backed securities — — 29,945 (264 ) 29,945 (264 ) $ — $ — $ 33,644 $ (296 ) $ 33,644 $ (296 ) December 31, 2018 U.S. government and agency securities $ — $ — $ 4,331 $ (37 ) 4,331 (37 ) U.S. treasury securities 2,491 (6 ) — — 2,491 (6 ) Municipal securities 4,291 (15 ) 25,377 (483 ) 29,668 (498 ) Mortgage-backed securities 41,925 (208 ) 83,319 (2,539 ) 125,244 (2,747 ) $ 48,707 $ (229 ) $ 113,027 $ (3,059 ) $ 161,734 $ (3,288 ) The unrealized losses on the investments at June 30, 2019 and December 31, 2018 were due to market conditions as well as 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 did not consider these investments to be other-than-temporarily impaired at June 30, 2019 and December 31, 2018. |
LOANS
LOANS | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
LOANS | NOTE 4 – LOANS The components of loans were as follows: June 30, December 31, 2019 2018 (dollars in thousands) Agricultural loans $ 713,602 $ 724,508 Commercial real estate loans 268,544 299,212 Commercial loans 114,998 116,460 Residential real estate loans 50,436 66,843 Installment and consumer other 252 272 Total gross loans 1,147,832 1,207,295 Allowance for loan losses (16,258 ) (16,505 ) Net loans $ 1,131,574 $ 1,190,790 Changes in the allowance for loan losses by portfolio segment for the six months ended June 30, 2019 and 2018 were as follows: Agricultural Commercial Real Estate Commercial Residential Real Estate Installment and Consumer Other Total (dollars in thousands) For the Three Months Ended June 30, 2019 Balance, beginning of period $ 12,123 $ 4,152 $ 1,201 $ 16 $ 1 $ 17,493 Provision for loan losses 1,509 (1,003 ) 367 3 — 876 Loans charged off — (2,234 ) (960 ) — — (3,194 ) Recoveries 15 967 101 — — 1,083 Balance, end of period $ 13,647 $ 1,882 $ 709 $ 19 $ 1 $ 16,258 For the Six Months Ended June 30,2019 Balance, beginning of year $ 12,258 $ 2,779 $ 1,414 $ 53 $ 1 $ 16,505 Provision for loan losses 1,374 135 153 (34 ) — 1,628 Loans charged off — (2,624 ) (960 ) — — (3,584 ) Recoveries 15 1,592 102 — — 1,709 Balance, end of period $ 13,647 $ 1,882 $ 709 $ 19 $ 1 $ 16,258 For the Three Months Ended June 30, 2018 Balance, beginning of period $ 11,250 $ 2,058 $ 1,257 $ 45 $ 2 $ 14,612 Provision for loan losses 378 (166 ) 322 (1 ) — 533 Loans charged off — — — — — — Recoveries — 11 (27 ) — — (16 ) Balance, end of period $ 11,628 $ 1,903 $ 1,552 $ 44 $ 2 $ 15,129 For the Six Months Ended June 30,2018 Balance, beginning of year $ 9,712 $ 1,978 $ 1,508 $ 47 $ 2 $ 13,247 Provision for loan losses 1,915 (1,284 ) 3 (3 ) (1 ) 630 Loans charged off — (42 ) — — — (42 ) Recoveries 1 1,251 41 — 1 1,294 Balance, end of period $ 11,628 $ 1,903 $ 1,552 $ 44 $ 2 $ 15,129 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 June 30, 2019 and December 31, 2018: June 30, 2019 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total (dollars in thousands) Allowance for loan losses: Agricultural loans $ 3,415 $ 10,232 $ 13,647 Commercial real estate loans 5 1,877 1,882 Commercial loans 290 419 709 Residential real estate loans — 19 19 Installment and consumer other — 1 1 Total ending allowance for loan losses 3,710 12,548 16,258 Loans: Agricultural loans 59,876 653,726 713,602 Commercial real estate loans 1,022 267,522 268,544 Commercial loans 532 114,466 114,998 Residential real estate loans — 50,436 50,436 Installment and consumer other — 252 252 Total loans 61,430 1,086,402 1,147,832 Net loans $ 57,720 $ 1,073,854 $ 1,131,574 December 31, 2018 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total (dollars in thousands) Allowance for loan losses: Agricultural loans $ 2,325 $ 9,933 $ 12,258 Commercial real estate loans 583 2,196 2,779 Commercial loans 745 669 1,414 Residential real estate loans — 53 53 Installment and consumer other — 1 1 Total ending allowance for loan losses 3,653 12,852 16,505 Loans: Agricultural loans 52,947 671,561 724,508 Commercial real estate loans 2,037 297,175 299,212 Commercial loans 1,773 114,687 116,460 Residential real estate loans — 66,843 66,843 Installment and consumer other — 272 272 Total loans 56,757 1,150,538 1,207,295 Net loans $ 53,104 $ 1,137,686 $ 1,190,790 The following table presents loans individually evaluated for impairment by class of loans at June 30, 2019 and December 31, 2018: June 30, 2019 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated (dollars in thousands) With no related allowance: Agricultural loans $ 20,020 $ 19,986 $ — Commercial real estate loans — — — Commercial loans — — — Residential real estate loans — — — $ 20,020 $ 19,986 $ — With an allowance recorded Agricultural loans $ 42,251 $ 39,890 $ 3,415 Commercial real estate loans 1,022 1,022 5 Commercial loans 539 532 290 Residential real estate loans — — — 43,812 41,444 — Total $ 63,832 $ 61,430 $ 3,710 December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated (dollars in thousands) With no related allowance: Agricultural loans $ 22,218 $ 21,654 $ — Commercial real estate loans — — — Commercial loans 455 455 — Residential real estate loans — — — $ 22,673 $ 22,109 $ — With an allowance recorded Agricultural loans $ 33,090 $ 31,293 $ 2,325 Commercial real estate loans 2,037 2,037 583 Commercial loans 1,326 1,318 745 Residential real estate loans — — — 36,453 34,648 3,653 Total $ 59,126 $ 56,757 $ 3,653 The following table presents the aging of the recorded investment in past due loans at June 30, 2019 and December 31, 2018: 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due Total Past Due Loans Not Past Due Total Loans (dollars in thousands) June 30, 2019 Agricultural loans $ 1,221 $ 580 $ 5,959 $ 7,760 $ 705,842 $ 713,602 Commercial real estate loans 2,823 — — 2,823 265,721 268,544 Commercial loans 28 155 446 629 114,369 114,998 Residential real estate loans 63 — — 63 50,373 50,436 Installment and consumer other — — — — 252 252 Total $ 4,135 $ 735 $ 6,405 $ 11,275 $ 1,136,557 $ 1,147,832 December 31, 2018 Agricultural loans $ 460 $ 969 $ 7,968 $ 9,397 $ 715,111 $ 724,508 Commercial real estate loans — — 2,037 2,037 297,175 299,212 Commercial loans — — 600 600 115,860 116,460 Residential real estate loans — — — — 66,843 66,843 Installment and consumer other — — — — 272 272 Total $ 460 $ 969 $ 10,605 $ 12,034 $ 1,195,261 $ 1,207,295 The following table lists information on nonaccrual, troubled debt restructured, and loans 90 days or more past due and still accruing at June 30, 2019 and December 31, 2018: June 30, December 31, 2019 2018 (dollars in thousands) Nonaccrual loans, 90 days or more past due $ 6,405 $ 10,605 Nonaccrual loans 30-89 days past due 549 868 Nonaccrual loans, less than 30 days past due 13,143 11,510 Troubled debt restructured loans not on nonaccrual status 28,892 19,389 90 days or more past due and still accruing — — Total $ 48,989 $ 42,372 The following table presents the recorded investment in nonaccrual loans and loans 90 days or more past due and still accruing by class of loan: June 30, December 31, 2019 2018 (dollars in thousands) Agricultural loans $ 19,565 $ 19,173 Commercial real estate loans - 2,037 Commercial loans 532 1,773 Total $ 20,097 $ 22,983 The following table presents the average recorded investment and interest income recognized on impaired loans by portfolio segment for the six months ended June 30, 2019 and 2018: As of and for the Three Months Ended June 30, 2019 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized (dollars in thousands) Agricultural loans $ 62,271 $ 59,876 $ 3,415 $ 57,064 $ 1,531 Commercial real estate loans 539 1,022 5 3,527 7 Commercial loans 1,022 532 290 834 1 Total $ 63,832 $ 61,430 $ 3,710 $ 61,425 $ 1,539 As of and for the Six Months Ended June 30, 2019 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized (dollars in thousands) Agricultural loans $ 62,271 $ 59,876 $ 3,415 $ 56,412 $ 2,704 Commercial real estate loans 539 1,022 5 1,530 31 Commercial loans 1,022 532 290 1,153 3 Total $ 63,832 $ 61,430 $ 3,710 $ 59,095 $ 2,738 As of and for the Three Months Ended June 30, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized (dollars in thousands) Agricultural loans $ 43,374 $ 42,838 $ 2,855 $ 39,192 $ 771 Commercial real estate loans 2,372 2,366 10 1,470 6 Commercial loans 1,883 1,878 781 1,516 24 Total $ 47,629 $ 47,082 $ 3,646 $ 42,178 $ 801 As of and for the Six Months Ended June 30, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized (dollars in thousands) Agricultural loans $ 43,374 $ 42,838 $ 2,855 $ 35,791 $ 1,416 Commercial real estate loans 2,372 2,366 10 2,416 6 Commercial loans 1,883 1,878 781 1,836 25 Residential real estate loans — — — — 1 Total $ 47,629 $ 47,082 $ 3,646 $ 40,043 $ 1,448 Impaired loans include nonaccrual loans, troubled debt restructured loans, and loans that are 90 days or more past due and still accruing. 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 $1.0 million for the six months ended June 30, 2019 and 2018. Troubled Debt Restructurings The Company allocated approximately $3.0 million and $2.0 million of specific reserves to customers whose loan terms have been modified in troubled debt restructurings (“TDR”) at June 30, 2019 and December 31, 2018, respectively. The Company had no additional lending commitments at June 30, 2019 or December 31, 2018 to customers with outstanding loans that were 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. The following table presents the TDRs by loan class at June 30, 2019 and December 31, 2018: Non-Accrual Restructured and Accruing Total (dollars in thousands) June 30, 2019 Agricultural loans $ 9,839 $ 27,870 $ 37,709 Commercial real estate loans — 1,022 1,022 Commercial loans 532 — 532 Total $ 10,371 $ 28,892 $ 39,263 December 31, 2018 Agricultural loans $ 12,034 $ 19,389 $ 31,423 Commercial loans 92 — 92 Total $ 12,126 $ 19,389 $ 31,515 The following table provides the number of loans modified in a troubled debt restructuring investment by class for the six months ended June 30, 2019 and 2018 For the Six Months Ended June 30, 2019 June 30, 2018 Number of Loans Recorded Investment Number of Loans Recorded Investment (dollars in thousands) Troubled debt restructurings: Agricultural loans 33 $ 13,784 15 $ 5,375 Commercial real estate loans 1 1,022 — — Commercial loans 1 446 — — Total 35 $ 15,252 15 $ 5,375 The following table provides the troubled debt restructurings for the six months ended June 30, 2019 and 2018 grouped by type of concession: For the Six Months Ended June 30, 2019 June 30, 2018 Number of Loans Recorded Investment Number of Loans Recorded Investment (dollars in thousands) Agricultural loans Payment concessions 5 $ 777 9 $ 3,744 Term concessions 2 453 — — Rate concessions 1 85 — — Extension of interest-only payments 24 12,317 6 1,631 Capitalized interest 1 152 — — Commercial real estate loans Payment concessions 1 1,022 — — Commercial loans Combination of extension of term and interest rate concessions 1 446 — — Total 35 $ 15,252 15 $ 5,375 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. 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 June 30, 2019 and December 31, 2018: As of June 30, 2019 Sound/ Acceptable/ Satisfactory/ Low Satisfactory Watch Special Mention Substandard Performing Substandard Impaired Total Loans (dollars in thousands) Agricultural loans $ 440,222 $ 147,155 $ 24,939 $ 41,410 $ 59,876 $ 713,602 Commercial real estate loans 244,942 11,103 206 11,271 1,022 268,544 Commercial loans 101,626 9,309 110 3,421 532 114,998 Residential real estate loans 49,945 257 — 234 — 50,436 Installment and consumer other 252 — — — — 252 Total $ 836,987 $ 167,824 $ 25,255 $ 56,336 $ 61,430 $ 1,147,832 As of December 31, 2018 Sound/ Acceptable/ Satisfactory/ Low Satisfactory Watch Special Mention Substandard Performing Substandard Impaired Total Loans (dollars in thousands) Agricultural loans $ 495,418 $ 133,582 $ 564 $ 41,997 $ 52,947 $ 724,508 Commercial real estate loans 253,853 18,968 4,642 19,712 2,037 299,212 Commercial loans 95,842 15,237 1,360 2,248 1,773 116,460 Residential real estate loans 62,787 3,883 — 173 — 66,843 Installment and consumer other 272 — — — — 272 Total $ 908,172 $ 171,670 $ 6,566 $ 64,130 $ 56,757 $ 1,207,295 |
LOAN SERVICING RIGHTS
LOAN SERVICING RIGHTS | 6 Months Ended |
Jun. 30, 2019 | |
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 $695.6 million and $661.3 million at June 30, 2019 and December 31, 2018, respectively. The fair value of these rights were approximately $14.1 million and $13.2 million at June 30, 2019 and December 31, 2018. The fair value of servicing rights was determined using an assumed discount rate of 20 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: June 30, December 31, 2019 2018 (dollars in thousands) Loan servicing rights: Balance, beginning of period $ 9,047 $ 8,950 Additions 1,941 2,879 Impairment (263 ) (597 ) Amortization (1,104 ) (2,185 ) Balance, end of period $ 9,621 $ 9,047 |
GOODWILL AND CORE DEPOSIT INTAN
GOODWILL AND CORE DEPOSIT INTANGIBLE | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 and December 31, 2018 . Core deposit intangible: Core deposit intangible, primarily related to acquired customer relationships, is amortized over its estimated finite life. The core deposit intangible related to the Fox River Valley acquisition had a gross carrying amount of $1.8 million. June 30, 2019 December 31, 2018 (dollars in thousands) Core deposit intangible: Gross carrying amount $ 1,801 $ 1,801 Accumulated amortization (1,447 ) (1,288 ) Net book value $ 354 $ 513 |
DEPOSITS
DEPOSITS | 6 Months Ended |
Jun. 30, 2019 | |
Banking And Thrift [Abstract] | |
DEPOSITS | NOTE 7 – DEPOSITS Deposits are summarized as follows at June 30, 2019 and December 31, 2018: June 30, December 31, 2019 2018 (dollars in thousands) Demand deposits $ 111,022 $ 121,436 NOW and interest checking 54,253 51,779 Savings 6,621 5,770 Money market accounts 239,337 218,929 Certificates of deposit 387,899 356,484 National time deposits 149,570 160,445 Brokered deposits 256,475 308,504 Total deposits $ 1,205,177 $ 1,223,347 |
ADVANCES FROM FHLB AND OTHER BO
ADVANCES FROM FHLB AND OTHER BORROWINGS | 6 Months Ended |
Jun. 30, 2019 | |
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 $59.4 million and $89.4 million on June 30, 2019 and December 31, 2018, respectively. These advances, rates, and maturities were as follows: June 30, December 31, Maturity Rate 2019 2018 (dollars in thousands) Fixed rate, fixed term 01/02/2019 2.54 % $ — $ 3,000 Fixed rate, fixed term 01/04/2019 2.55 % — 12,000 Fixed rate, fixed term 02/27/2019 1.47 % — 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 08/12/2019 2.24 % 5,000 5,000 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 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 Fixed rate, putable, no call 2 years 01/12/2023 2.03 % 8,000 8,000 $ 59,400 $ 89,400 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 and stock of the FHLB. At June 30, 2019 and December 31, 2018, the Bank had pledged qualifying mortgage loans of $431.5 million and $453.8 million, respectively. The Bank had no irrevocable letters of credit with the FHLB as of June 30, 2019 and December 31, 2018. Future maturities of FHLB borrowings as of June 30, 2019 and December 31, 2018 were as follows: June 30, December 31, 2019 2018 (dollars in thousands) 1 year or less $ 20,000 $ 45,000 1 to 2 years 26,400 18,400 2 to 3 years 5,000 18,000 3 to 4 years 8,000 8,000 $ 59,400 $ 89,400 As of June 30, 2019 and December 31, 2018, the Bank also had a line of credit available with the Federal Reserve Bank of Chicago. Borrowings under this line of credit are limited by the amount of collateral pledged by the Bank, which totaled $145.7 million and $143.4 million in loans at June 30, 2019 and December 31, 2018, respectively. There were no outstanding advances included in other borrowings at June 30, 2019 and December 31, 2018. As of June 30, 2019 and December 31, 2018, the Company had 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 June 30, 2019 and December 31, 2018. 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 June 30, 2019 and December 31, 2018, the amounts of these borrowings was $0.8 million. The following table sets forth information concerning balances and interest rates on other borrowings as of and for the periods indicated: June 30, December 31, 2019 2018 (dollars in thousands) Balance outstanding at end of period $ 809 $ 827 Average amount outstanding during the period 1,204 1,027 Maximum amount outstanding at any month end 1,412 1,278 Weighted average interest rate during the period 4.47 % 4.81 % Weighted average interest rate at end of period 4.51 % 4.51 % |
EQUITY INCENTIVE PLAN
EQUITY INCENTIVE PLAN | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019, 175,703 options or shares of restricted stock remained available 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 June 30, 2019 and changes in the Plan during the six months ended June 30, 2019 were as follows: June 30, 2019 Number of Options Weighted-Average Exercise Price Aggregate Intrinsic Value (1) (dollars in thousands except option and per share data) Outstanding, beginning of year 208,988 $ 18.15 Granted 14,237 18.06 Exercised (5,000 ) 12.00 Forfeited/expired (3,355 ) 19.88 Outstanding, end of period 214,870 $ 18.26 $ 847 Options exercisable at period-end 173,836 $ 17.27 $ 713 Weighted-average fair value of options granted during the period (2) $ 6.31 (1) The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on June 30, 2019. 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 for the six months ended June 30, 2019 was as follows: June 30, 2019 Restricted Stock Awards Weighted Average Grant Price Outstanding, beginning of year 28,701 $ 21.02 Granted — — Vested (11,552 ) 19.19 Forfeited/expired (226 ) 27.15 Outstanding, end of period 16,923 $ 22.19 June 30, 2019 Restricted Stock Units Weighted Average Grant Price Outstanding, beginning of year 11,772 $ 27.15 Granted 24,382 17.54 Vested and common shares issued (3,654 ) 27.42 Forfeited/expired (375 ) 18.11 Outstanding, end of period 32,125 $ 21.91 For the six months ended June 30, 2019 and 2018, share-based compensation expense, including options and restricted stock awards, applicable to the Plan was $262 thousand and $259 thousand, respectively. As of June 30, 2019, 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 1.98 years. |
REGULATORY MATTERS
REGULATORY MATTERS | 6 Months Ended |
Jun. 30, 2019 | |
Regulatory Capital Requirements [Abstract] | |
REGULATORY MATTERS | NOTE 10 – REGULATORY MATTERS The Bank is 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 Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, 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 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 June 30, 2019 and December 31, 2018, that the Bank met all capital adequacy requirements to which they were subject. As a result of the recently enacted Economic Growth, Regulatory Relief, and Consumer Protection Act, the federal banking agencies are required to develop a “Community Bank Leverage Ratio” (the ratio of a bank’s tangible equity capital to average total consolidated assets) for financial institutions with assets of less than $10 billion. A “qualifying community bank” that exceeds this ratio will be deemed to be in compliance with all other capital and leverage requirements, including the capital requirements to be considered “well capitalized” under Prompt Corrective Action statutes. The federal banking agencies may consider a financial institution’s risk profile when evaluating whether it qualifies as a community bank for purposes of the capital ratio requirement. The federal banking agencies must set the minimum capital for the new Community Bank Leverage Ratio at not less than 8% and not more than 10%. The Bank has not elected to be subject to this new definition. As of June 30, 2019, 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 table. 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) June 30, 2019 Total Capital (to risk weighted assets) $ 209,648 16.62 % $ 132,462 10.50 % $ 126,154 10.00 % Tier 1 Capital (to risk weighted assets) 193,871 15.37 % 107,231 8.50 % 100,923 8.00 % Tier 1 Capital (to average assets) 193,871 13.12 % 59,124 4.00 % 73,905 5.00 % Tier 1 Common Equity Ratio (to risk weighted assets) 193,871 15.37 % 88,308 7.00 % 82,000 6.50 % December 31, 2018 Total Capital (to risk weighted assets): Consolidated $ 210,768 15.81 % $ 131,664 9.875 % Not applicable Bank 204,327 15.35 % 131,488 9.875 % $ 133,153 10.00 % Tier 1 Capital (to risk weighted assets): Consolidated 164,675 12.35 % 104,998 7.875 % Not applicable Bank 187,679 14.09 % 104,858 7.875 % 106,522 8.00 % Tier 1 Capital (to average assets): Consolidated 164,675 11.09 % 59,374 4.00 % Not applicable Bank 187,679 12.44 % 60,330 4.00 % 75,413 5.00 % Tier 1 Common Equity Ratio (to risk weighted assets): Consolidated 141,085 10.58 % 84,999 6.375 % Not applicable Bank 187,679 14.09 % 84,885 6.375 % 86,549 6.50 % (a) The ratios for June 30, 2019 and December 31, 2018 include a capital conservation buffer of 2.5% and 1.875%, 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 was subject to a three year phase-in period that began on January 1, 2016 and was fully phased in on January 1, 2019 at 2.5%. The ratios for the Bank are sufficient to meet the conservation buffer. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 6 Months Ended |
Jun. 30, 2019 | |
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 recorded at fair value on a recurring basis: 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. Derivative Instruments The Company's derivative instruments consist of interest rate swaps, which are accounted for as cash flow hedges. The Company's derivative positions are classified within Level 2 of the fair value hierarchy and are valued using models generally accepted in the financial services industry and that use actively quoted or observable market input values from external market data providers and/or non-binding broker-dealer quotations. The fair value of the derivatives is determined using discounted cash flow models. These models’ key assumptions include the contractual terms of the respective contract along with significant observable inputs, including interest rates, yield curves, nonperformance risk and volatility. Assets and liabilities 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) June 30, 2019 Securities available for sale: U.S. government and agency securities $ — $ 3,699 $ — $ 3,699 U.S. treasury securities — 2,507 — 2,507 Mortgage-backed securities — 152,355 — $ 152,355 Total assets at fair value $ — $ 158,561 $ — $ 158,561 Derivative instruments, interest rate swaps — 1,316 — $ 1,316 Total liabilities at fair value $ — $ 1,316 $ — $ 1,316 December 31, 2018 Securities available for sale: U.S. government and agency securities $ — $ 4,331 $ — $ 4,331 U.S. treasury Securities — 2,491 — 2,491 Municipal securities — 34,520 — 34,520 Mortgage-backed securities — 154,603 — $ 154,603 Total assets at fair value $ — $ 195,945 $ — $ 195,945 Derivative instruments, interest rate swaps — 179 — $ 179 Total liabilities at fair value $ — $ 179 $ — $ 179 Certain assets 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 (dollars in thousands) June 30, 2019 Impaired loans $ — $ — $ 57,720 Other real estate owned — — 8,693 Total assets at fair value $ — $ — $ 66,413 December 31, 2018 Impaired loans $ — $ — $ 30,995 Other real estate owned — — 6,568 Total assets at fair value $ — $ — $ 37,563 The significant inputs used in the fair value measurements for Level 3 assets measured at fair value on a nonrecurring basis are as follows: June 30, 2019 Valuation Techniques Unobservable Inputs Range (Average) Impaired loans Evaluation of collateral Estimation of value NM* Other real estate owned Appraisal Appraisal adjustment 8%-61% (25%) December 31, 2018 Valuation Techniques Unobservable Inputs Range (Average) Impaired loans Evaluation of collateral Estimation of value NM* Other real estate owned Appraisal Appraisal adjustment 16%-54% (32%) * Not Meaningful. The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments were as follows: June 30, December 31, 2019 2018 Carrying Amount Fair Value Carrying Amount Fair Value Input Level (dollars in thousands) Financial assets: Cash and cash equivalents $ 116,251 $ 116,251 $ 61,087 $ 61,087 1 Securities available for sale 158,561 158,561 195,945 195,945 2 FHLB Stock 2,178 2,178 2,978 2,978 2 Loans, net of allowance for loan losses 1,131,574 1,136,362 1,190,790 1,187,330 3 Loans held for sale 7,448 7,448 2,949 2,949 3 Accrued interest receivable 3,821 3,821 3,878 3,878 2 Loan servicing rights 9,621 14,057 9,047 13,198 3 Financial liabilities: Deposits: Time 773,843 778,769 805,240 801,267 2 Other deposits 431,334 431,334 418,107 418,107 1 Other borrowings 809 809 827 827 3 Advances from FHLB 59,400 59,537 89,400 88,725 2 Subordinated debentures 44,781 44,781 44,703 44,703 3 Accrued interest payable 5,026 5,026 4,013 4,013 2 Derivative instruments, interest rate swaps 1,316 1,316 179 179 2 |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 6 Months Ended |
Jun. 30, 2019 | |
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 Six Months Ended June 30, June 30, 2019 2018 2019 2018 (dollars in thousands) Balance, beginning of period $ 5,019 $ 9,379 $ 6,568 $ 4,962 Assets foreclosed 4,145 1,687 5,292 6,104 Write-down of other real estate owned (250 ) (104 ) (250 ) (104 ) Net gain on sales of other real estate owned (9 ) 149 127 149 Proceeds from sale of other real estate owned (212 ) (2,107 ) (3,044 ) (2,107 ) Balance, end of period $ 8,693 $ 9,004 $ 8,693 $ 9,004 Income (expenses) applicable to other real estate owned included in non-interest expense included the following: For the Three Months Ended For the Six Months Ended June 30, June 30, 2019 2018 2019 2018 (dollars in thousands) Net gain (loss) on sales of other real estate owned $ (9 ) $ 149 $ 127 $ 149 Write-down of other real estate owned (250 ) (104 ) (250 ) (104 ) Operating expenses, net of rental income (85 ) (108 ) (110 ) (216 ) $ (344 ) $ (63 ) $ (233 ) $ (171 ) |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS | NOTE 13 – DERIVATIVE FINANCIAL INSTRUMENTS On June 15, 2018, the Company executed an interest rate swap to manage interest rate risk on two sets of its trust preferred securities. This derivative contract involves the receipt of floating rate interest from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreement, without the exchange of the underlying notional value. This instrument is designated as a cash flow hedge as the receipt of floating rate interest from the counterparty is used to manage interest rate risk associated with three month LIBOR advances. The change in the fair value of this hedging instrument is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged transaction affects earnings. The Company had two outstanding interest rate swaps designated as a cash flow hedge each with an aggregate notional value of $6.0 million at June 30, 2019 and December 31, 2018. Both interest rate swaps mature on June 15, 2028. A pre-tax unrealized loss (gain) of $1.1 and ($0.1) million was recognized in accumulated other comprehensive income for the six months ended June 30, 2019 and 2018, respectively and there was no ineffective portion of this hedge. The Company is exposed to credit risk in the event of nonperformance by the interest rate swaps counterparty. The Company minimizes this risk by entering into derivative contracts with only large, stable financial institutions, and the Company has not experienced, and does not expect, any losses from counterparty nonperformance on the interest rate swaps. The Company monitors counterparty risk in accordance with the provisions of FASB ASC 815. In addition, the interest rate swap agreements contains language outlining collateral-pledging requirements for each counterparty. Collateral must be posted when the market value exceeds certain threshold limits. Derivative contracts are executed with a Credit Support Annex, which is a bilateral ratings-sensitive agreement that requires collateral postings at established credit threshold levels. These agreements protect the interests of the Company and its counterparties should either party suffer a credit rating deterioration. The Company was required to pledge $1.0 million of cash as collateral to the counterparty as of June 30, 2019. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 14 – SUBSEQUENT EVENTS Management evaluated subsequent events through the date the financial statements were issued. There were no significant events or transactions occurring after June 30, 2019, but prior to August 8, 2019, that provided additional evidence about conditions that existed at June 30, 2019. |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements | New Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) In February 2016, the FASB issued ASU No. 2016-02, Leases: Amendments to the FASB Accounting Standards Codification In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842) – Targeted Improvements , which provided an additional and optional transition method with which to adopt the new leases standard. The updated ASU allows entities to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The amendment became effective January 1, 2019, and was adopted by the Company retrospectively to the beginning of the adoption period. Since all of the Company’s leases are operating leases, there was no impact to the consolidated statements of operations; however, a right-of-use asset of $0.2 million and a corresponding liability were recorded on the Company’s balance sheet as of the effective date of the amendment. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 842) – Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 Six Months Ended June 30, June 30, 2019 2018 2019 2018 (dollars in thousands) Net income from continuing operations $ 3,704 $ 3,850 $ 7,466 $ 7,904 Less: preferred stock dividends 118 99 235 196 Income available to common shareholders for basic earnings per common share $ 3,586 $ 3,751 $ 7,231 $ 7,708 Weighted average number of common shares issued 7,159,072 7,351,985 7,156,139 7,349,923 Less: weighted average treasury shares 443,920 442,102 443,825 440,974 Plus: weighted average of participating restricted stock units 30,483 219,315 23,411 224,550 Weighted average number of common shares and participating securities outstanding 6,745,635 6,690,568 6,735,725 6,684,399 Effect of dilutive options 20,731 79,368 21,170 77,518 Weighted average number of common shares outstanding used to calculate diluted earnings per common share 6,766,366 6,769,936 6,756,895 6,761,917 Weighted average of anti-dilutive options 133,147 - 131,729 - |
SECURITIES AVAILABLE-FOR-SALE (
SECURITIES AVAILABLE-FOR-SALE (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 and December 31, 2018 were as follows: Amortized Unrealized Unrealized Fair Cost Gains Losses Value (dollars in thousands) June 30, 2019 U.S. government and agency securities $ 3,731 $ — $ (32 ) $ 3,699 U.S. treasury securities 2,498 9 — 2,507 Mortgage-backed securities 149,356 3,263 (264 ) 152,355 $ 155,585 $ 3,272 $ (296 ) $ 158,561 December 31, 2018 U.S. government and agency securities $ 4,368 $ — $ (37 ) $ 4,331 U.S. treasury securities 2,497 — (6 ) 2,491 Municipal securities 34,985 33 (498 ) 34,520 Mortgage-backed securities 157,147 203 (2,747 ) 154,603 $ 198,997 $ 236 $ (3,288 ) $ 195,945 |
Schedule of Amortized Cost and Fair Value of Securities Available for Sale by Contractual Maturity | The amortized cost and fair value of securities at June 30, 2019 and December 31, 2018, 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) June 30, 2019 Due in one year or less $ 2,498 $ 2,507 Due from one to five years — — Due from five to ten years 3,731 3,699 Due after ten years — — Mortgage-backed securities 149,356 152,355 $ 155,585 $ 158,561 December 31, 2018 Due in one year or less $ 5,848 $ 5,843 Due from one to five years 11,113 10,974 Due from five to ten years 8,458 8,382 Due after ten years 16,431 16,143 Mortgage-backed securities 157,147 154,603 $ 198,997 $ 195,945 |
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 June 30, 2019 and December 31, 2018: Less Than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (dollars in thousands) June 30, 2019 U.S. government and agency securities $ — $ — $ 3,699 $ (32 ) 3,699 (32 ) Mortgage-backed securities — — 29,945 (264 ) 29,945 (264 ) $ — $ — $ 33,644 $ (296 ) $ 33,644 $ (296 ) December 31, 2018 U.S. government and agency securities $ — $ — $ 4,331 $ (37 ) 4,331 (37 ) U.S. treasury securities 2,491 (6 ) — — 2,491 (6 ) Municipal securities 4,291 (15 ) 25,377 (483 ) 29,668 (498 ) Mortgage-backed securities 41,925 (208 ) 83,319 (2,539 ) 125,244 (2,747 ) $ 48,707 $ (229 ) $ 113,027 $ (3,059 ) $ 161,734 $ (3,288 ) |
LOANS (Tables)
LOANS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Components of Loans | The components of loans were as follows: June 30, December 31, 2019 2018 (dollars in thousands) Agricultural loans $ 713,602 $ 724,508 Commercial real estate loans 268,544 299,212 Commercial loans 114,998 116,460 Residential real estate loans 50,436 66,843 Installment and consumer other 252 272 Total gross loans 1,147,832 1,207,295 Allowance for loan losses (16,258 ) (16,505 ) Net loans $ 1,131,574 $ 1,190,790 |
Changes in Allowance for Loan Losses by Portfolio Segment | Changes in the allowance for loan losses by portfolio segment for the six months ended June 30, 2019 and 2018 were as follows: Agricultural Commercial Real Estate Commercial Residential Real Estate Installment and Consumer Other Total (dollars in thousands) For the Three Months Ended June 30, 2019 Balance, beginning of period $ 12,123 $ 4,152 $ 1,201 $ 16 $ 1 $ 17,493 Provision for loan losses 1,509 (1,003 ) 367 3 — 876 Loans charged off — (2,234 ) (960 ) — — (3,194 ) Recoveries 15 967 101 — — 1,083 Balance, end of period $ 13,647 $ 1,882 $ 709 $ 19 $ 1 $ 16,258 For the Six Months Ended June 30,2019 Balance, beginning of year $ 12,258 $ 2,779 $ 1,414 $ 53 $ 1 $ 16,505 Provision for loan losses 1,374 135 153 (34 ) — 1,628 Loans charged off — (2,624 ) (960 ) — — (3,584 ) Recoveries 15 1,592 102 — — 1,709 Balance, end of period $ 13,647 $ 1,882 $ 709 $ 19 $ 1 $ 16,258 For the Three Months Ended June 30, 2018 Balance, beginning of period $ 11,250 $ 2,058 $ 1,257 $ 45 $ 2 $ 14,612 Provision for loan losses 378 (166 ) 322 (1 ) — 533 Loans charged off — — — — — — Recoveries — 11 (27 ) — — (16 ) Balance, end of period $ 11,628 $ 1,903 $ 1,552 $ 44 $ 2 $ 15,129 For the Six Months Ended June 30,2018 Balance, beginning of year $ 9,712 $ 1,978 $ 1,508 $ 47 $ 2 $ 13,247 Provision for loan losses 1,915 (1,284 ) 3 (3 ) (1 ) 630 Loans charged off — (42 ) — — — (42 ) Recoveries 1 1,251 41 — 1 1,294 Balance, end of period $ 11,628 $ 1,903 $ 1,552 $ 44 $ 2 $ 15,129 |
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 June 30, 2019 and December 31, 2018: June 30, 2019 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total (dollars in thousands) Allowance for loan losses: Agricultural loans $ 3,415 $ 10,232 $ 13,647 Commercial real estate loans 5 1,877 1,882 Commercial loans 290 419 709 Residential real estate loans — 19 19 Installment and consumer other — 1 1 Total ending allowance for loan losses 3,710 12,548 16,258 Loans: Agricultural loans 59,876 653,726 713,602 Commercial real estate loans 1,022 267,522 268,544 Commercial loans 532 114,466 114,998 Residential real estate loans — 50,436 50,436 Installment and consumer other — 252 252 Total loans 61,430 1,086,402 1,147,832 Net loans $ 57,720 $ 1,073,854 $ 1,131,574 December 31, 2018 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total (dollars in thousands) Allowance for loan losses: Agricultural loans $ 2,325 $ 9,933 $ 12,258 Commercial real estate loans 583 2,196 2,779 Commercial loans 745 669 1,414 Residential real estate loans — 53 53 Installment and consumer other — 1 1 Total ending allowance for loan losses 3,653 12,852 16,505 Loans: Agricultural loans 52,947 671,561 724,508 Commercial real estate loans 2,037 297,175 299,212 Commercial loans 1,773 114,687 116,460 Residential real estate loans — 66,843 66,843 Installment and consumer other — 272 272 Total loans 56,757 1,150,538 1,207,295 Net loans $ 53,104 $ 1,137,686 $ 1,190,790 |
Schedule of Loans Individually Evaluated for Impairment | The following table presents loans individually evaluated for impairment by class of loans at June 30, 2019 and December 31, 2018: June 30, 2019 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated (dollars in thousands) With no related allowance: Agricultural loans $ 20,020 $ 19,986 $ — Commercial real estate loans — — — Commercial loans — — — Residential real estate loans — — — $ 20,020 $ 19,986 $ — With an allowance recorded Agricultural loans $ 42,251 $ 39,890 $ 3,415 Commercial real estate loans 1,022 1,022 5 Commercial loans 539 532 290 Residential real estate loans — — — 43,812 41,444 — Total $ 63,832 $ 61,430 $ 3,710 December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated (dollars in thousands) With no related allowance: Agricultural loans $ 22,218 $ 21,654 $ — Commercial real estate loans — — — Commercial loans 455 455 — Residential real estate loans — — — $ 22,673 $ 22,109 $ — With an allowance recorded Agricultural loans $ 33,090 $ 31,293 $ 2,325 Commercial real estate loans 2,037 2,037 583 Commercial loans 1,326 1,318 745 Residential real estate loans — — — 36,453 34,648 3,653 Total $ 59,126 $ 56,757 $ 3,653 |
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 June 30, 2019 and December 31, 2018: 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due Total Past Due Loans Not Past Due Total Loans (dollars in thousands) June 30, 2019 Agricultural loans $ 1,221 $ 580 $ 5,959 $ 7,760 $ 705,842 $ 713,602 Commercial real estate loans 2,823 — — 2,823 265,721 268,544 Commercial loans 28 155 446 629 114,369 114,998 Residential real estate loans 63 — — 63 50,373 50,436 Installment and consumer other — — — — 252 252 Total $ 4,135 $ 735 $ 6,405 $ 11,275 $ 1,136,557 $ 1,147,832 December 31, 2018 Agricultural loans $ 460 $ 969 $ 7,968 $ 9,397 $ 715,111 $ 724,508 Commercial real estate loans — — 2,037 2,037 297,175 299,212 Commercial loans — — 600 600 115,860 116,460 Residential real estate loans — — — — 66,843 66,843 Installment and consumer other — — — — 272 272 Total $ 460 $ 969 $ 10,605 $ 12,034 $ 1,195,261 $ 1,207,295 |
Nonaccrual, Troubled Debt Restructured and Loans 90 Days or More Past Due and Still Accruing | The following table lists information on nonaccrual, troubled debt restructured, and loans 90 days or more past due and still accruing at June 30, 2019 and December 31, 2018: June 30, December 31, 2019 2018 (dollars in thousands) Nonaccrual loans, 90 days or more past due $ 6,405 $ 10,605 Nonaccrual loans 30-89 days past due 549 868 Nonaccrual loans, less than 30 days past due 13,143 11,510 Troubled debt restructured loans not on nonaccrual status 28,892 19,389 90 days or more past due and still accruing — — Total $ 48,989 $ 42,372 |
Recorded Investment in Nonaccrual Loans and Loans 90 Days or More Past Due and Still Accruing | The following table presents the recorded investment in nonaccrual loans and loans 90 days or more past due and still accruing by class of loan: June 30, December 31, 2019 2018 (dollars in thousands) Agricultural loans $ 19,565 $ 19,173 Commercial real estate loans - 2,037 Commercial loans 532 1,773 Total $ 20,097 $ 22,983 |
Average Recorded Investment and Interest Income Recognized on Impaired Loans by Portfolio Segment | The following table presents the average recorded investment and interest income recognized on impaired loans by portfolio segment for the six months ended June 30, 2019 and 2018: As of and for the Three Months Ended June 30, 2019 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized (dollars in thousands) Agricultural loans $ 62,271 $ 59,876 $ 3,415 $ 57,064 $ 1,531 Commercial real estate loans 539 1,022 5 3,527 7 Commercial loans 1,022 532 290 834 1 Total $ 63,832 $ 61,430 $ 3,710 $ 61,425 $ 1,539 As of and for the Six Months Ended June 30, 2019 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized (dollars in thousands) Agricultural loans $ 62,271 $ 59,876 $ 3,415 $ 56,412 $ 2,704 Commercial real estate loans 539 1,022 5 1,530 31 Commercial loans 1,022 532 290 1,153 3 Total $ 63,832 $ 61,430 $ 3,710 $ 59,095 $ 2,738 As of and for the Three Months Ended June 30, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized (dollars in thousands) Agricultural loans $ 43,374 $ 42,838 $ 2,855 $ 39,192 $ 771 Commercial real estate loans 2,372 2,366 10 1,470 6 Commercial loans 1,883 1,878 781 1,516 24 Total $ 47,629 $ 47,082 $ 3,646 $ 42,178 $ 801 As of and for the Six Months Ended June 30, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized (dollars in thousands) Agricultural loans $ 43,374 $ 42,838 $ 2,855 $ 35,791 $ 1,416 Commercial real estate loans 2,372 2,366 10 2,416 6 Commercial loans 1,883 1,878 781 1,836 25 Residential real estate loans — — — — 1 Total $ 47,629 $ 47,082 $ 3,646 $ 40,043 $ 1,448 |
TDRs by Loan Class | The following table presents the TDRs by loan class at June 30, 2019 and December 31, 2018: Non-Accrual Restructured and Accruing Total (dollars in thousands) June 30, 2019 Agricultural loans $ 9,839 $ 27,870 $ 37,709 Commercial real estate loans — 1,022 1,022 Commercial loans 532 — 532 Total $ 10,371 $ 28,892 $ 39,263 December 31, 2018 Agricultural loans $ 12,034 $ 19,389 $ 31,423 Commercial loans 92 — 92 Total $ 12,126 $ 19,389 $ 31,515 The following table provides the number of loans modified in a troubled debt restructuring investment by class for the six months ended June 30, 2019 and 2018 For the Six Months Ended June 30, 2019 June 30, 2018 Number of Loans Recorded Investment Number of Loans Recorded Investment (dollars in thousands) Troubled debt restructurings: Agricultural loans 33 $ 13,784 15 $ 5,375 Commercial real estate loans 1 1,022 — — Commercial loans 1 446 — — Total 35 $ 15,252 15 $ 5,375 |
Summary of Troubled Debt Restructurings Grouped by Type of Concession | The following table provides the troubled debt restructurings for the six months ended June 30, 2019 and 2018 grouped by type of concession: For the Six Months Ended June 30, 2019 June 30, 2018 Number of Loans Recorded Investment Number of Loans Recorded Investment (dollars in thousands) Agricultural loans Payment concessions 5 $ 777 9 $ 3,744 Term concessions 2 453 — — Rate concessions 1 85 — — Extension of interest-only payments 24 12,317 6 1,631 Capitalized interest 1 152 — — Commercial real estate loans Payment concessions 1 1,022 — — Commercial loans Combination of extension of term and interest rate concessions 1 446 — — Total 35 $ 15,252 15 $ 5,375 |
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 June 30, 2019 and December 31, 2018: As of June 30, 2019 Sound/ Acceptable/ Satisfactory/ Low Satisfactory Watch Special Mention Substandard Performing Substandard Impaired Total Loans (dollars in thousands) Agricultural loans $ 440,222 $ 147,155 $ 24,939 $ 41,410 $ 59,876 $ 713,602 Commercial real estate loans 244,942 11,103 206 11,271 1,022 268,544 Commercial loans 101,626 9,309 110 3,421 532 114,998 Residential real estate loans 49,945 257 — 234 — 50,436 Installment and consumer other 252 — — — — 252 Total $ 836,987 $ 167,824 $ 25,255 $ 56,336 $ 61,430 $ 1,147,832 As of December 31, 2018 Sound/ Acceptable/ Satisfactory/ Low Satisfactory Watch Special Mention Substandard Performing Substandard Impaired Total Loans (dollars in thousands) Agricultural loans $ 495,418 $ 133,582 $ 564 $ 41,997 $ 52,947 $ 724,508 Commercial real estate loans 253,853 18,968 4,642 19,712 2,037 299,212 Commercial loans 95,842 15,237 1,360 2,248 1,773 116,460 Residential real estate loans 62,787 3,883 — 173 — 66,843 Installment and consumer other 272 — — — — 272 Total $ 908,172 $ 171,670 $ 6,566 $ 64,130 $ 56,757 $ 1,207,295 |
LOAN SERVICING RIGHTS (Tables)
LOAN SERVICING RIGHTS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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: June 30, December 31, 2019 2018 (dollars in thousands) Loan servicing rights: Balance, beginning of period $ 9,047 $ 8,950 Additions 1,941 2,879 Impairment (263 ) (597 ) Amortization (1,104 ) (2,185 ) Balance, end of period $ 9,621 $ 9,047 |
GOODWILL AND CORE DEPOSIT INT_2
GOODWILL AND CORE DEPOSIT INTANGIBLE (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Core Deposit | |
Finite Lived Intangible Assets [Line Items] | |
Core Deposit Intangible | June 30, 2019 December 31, 2018 (dollars in thousands) Core deposit intangible: Gross carrying amount $ 1,801 $ 1,801 Accumulated amortization (1,447 ) (1,288 ) Net book value $ 354 $ 513 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Banking And Thrift [Abstract] | |
Summary of Deposits | Deposits are summarized as follows at June 30, 2019 and December 31, 2018: June 30, December 31, 2019 2018 (dollars in thousands) Demand deposits $ 111,022 $ 121,436 NOW and interest checking 54,253 51,779 Savings 6,621 5,770 Money market accounts 239,337 218,929 Certificates of deposit 387,899 356,484 National time deposits 149,570 160,445 Brokered deposits 256,475 308,504 Total deposits $ 1,205,177 $ 1,223,347 |
ADVANCES FROM FHLB AND OTHER _2
ADVANCES FROM FHLB AND OTHER BORROWINGS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Advances Outstanding from FHLB | The Bank had advances outstanding from the FHLB in the amount of $59.4 million and $89.4 million on June 30, 2019 and December 31, 2018, respectively. These advances, rates, and maturities were as follows: June 30, December 31, Maturity Rate 2019 2018 (dollars in thousands) Fixed rate, fixed term 01/02/2019 2.54 % $ — $ 3,000 Fixed rate, fixed term 01/04/2019 2.55 % — 12,000 Fixed rate, fixed term 02/27/2019 1.47 % — 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 08/12/2019 2.24 % 5,000 5,000 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 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 Fixed rate, putable, no call 2 years 01/12/2023 2.03 % 8,000 8,000 $ 59,400 $ 89,400 |
Future Maturities of FHLB Borrowings | Future maturities of FHLB borrowings as of June 30, 2019 and December 31, 2018 were as follows: June 30, December 31, 2019 2018 (dollars in thousands) 1 year or less $ 20,000 $ 45,000 1 to 2 years 26,400 18,400 2 to 3 years 5,000 18,000 3 to 4 years 8,000 8,000 $ 59,400 $ 89,400 |
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: June 30, December 31, 2019 2018 (dollars in thousands) Balance outstanding at end of period $ 809 $ 827 Average amount outstanding during the period 1,204 1,027 Maximum amount outstanding at any month end 1,412 1,278 Weighted average interest rate during the period 4.47 % 4.81 % Weighted average interest rate at end of period 4.51 % 4.51 % |
EQUITY INCENTIVE PLAN (Tables)
EQUITY INCENTIVE PLAN (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Status and Changes in Stock Option 2016 Plan | The status of the Plan as of June 30, 2019 and changes in the Plan during the six months ended June 30, 2019 were as follows: June 30, 2019 Number of Options Weighted-Average Exercise Price Aggregate Intrinsic Value (1) (dollars in thousands except option and per share data) Outstanding, beginning of year 208,988 $ 18.15 Granted 14,237 18.06 Exercised (5,000 ) 12.00 Forfeited/expired (3,355 ) 19.88 Outstanding, end of period 214,870 $ 18.26 $ 847 Options exercisable at period-end 173,836 $ 17.27 $ 713 Weighted-average fair value of options granted during the period (2) $ 6.31 (1) The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on June 30, 2019. 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 and restricted stock units for the six months ended June 30, 2019 was as follows: June 30, 2019 Restricted Stock Awards Weighted Average Grant Price Outstanding, beginning of year 28,701 $ 21.02 Granted — — Vested (11,552 ) 19.19 Forfeited/expired (226 ) 27.15 Outstanding, end of period 16,923 $ 22.19 June 30, 2019 Restricted Stock Units Weighted Average Grant Price Outstanding, beginning of year 11,772 $ 27.15 Granted 24,382 17.54 Vested and common shares issued (3,654 ) 27.42 Forfeited/expired (375 ) 18.11 Outstanding, end of period 32,125 $ 21.91 |
REGULATORY MATTERS (Tables)
REGULATORY MATTERS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Regulatory Capital Requirements [Abstract] | |
Summary of Actual Capital Amounts and Ratios of Bank's | 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) June 30, 2019 Total Capital (to risk weighted assets) $ 209,648 16.62 % $ 132,462 10.50 % $ 126,154 10.00 % Tier 1 Capital (to risk weighted assets) 193,871 15.37 % 107,231 8.50 % 100,923 8.00 % Tier 1 Capital (to average assets) 193,871 13.12 % 59,124 4.00 % 73,905 5.00 % Tier 1 Common Equity Ratio (to risk weighted assets) 193,871 15.37 % 88,308 7.00 % 82,000 6.50 % December 31, 2018 Total Capital (to risk weighted assets): Consolidated $ 210,768 15.81 % $ 131,664 9.875 % Not applicable Bank 204,327 15.35 % 131,488 9.875 % $ 133,153 10.00 % Tier 1 Capital (to risk weighted assets): Consolidated 164,675 12.35 % 104,998 7.875 % Not applicable Bank 187,679 14.09 % 104,858 7.875 % 106,522 8.00 % Tier 1 Capital (to average assets): Consolidated 164,675 11.09 % 59,374 4.00 % Not applicable Bank 187,679 12.44 % 60,330 4.00 % 75,413 5.00 % Tier 1 Common Equity Ratio (to risk weighted assets): Consolidated 141,085 10.58 % 84,999 6.375 % Not applicable Bank 187,679 14.09 % 84,885 6.375 % 86,549 6.50 % (a) The ratios for June 30, 2019 and December 31, 2018 include a capital conservation buffer of 2.5% and 1.875%, respectively. |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities 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) June 30, 2019 Securities available for sale: U.S. government and agency securities $ — $ 3,699 $ — $ 3,699 U.S. treasury securities — 2,507 — 2,507 Mortgage-backed securities — 152,355 — $ 152,355 Total assets at fair value $ — $ 158,561 $ — $ 158,561 Derivative instruments, interest rate swaps — 1,316 — $ 1,316 Total liabilities at fair value $ — $ 1,316 $ — $ 1,316 December 31, 2018 Securities available for sale: U.S. government and agency securities $ — $ 4,331 $ — $ 4,331 U.S. treasury Securities — 2,491 — 2,491 Municipal securities — 34,520 — 34,520 Mortgage-backed securities — 154,603 — $ 154,603 Total assets at fair value $ — $ 195,945 $ — $ 195,945 Derivative instruments, interest rate swaps — 179 — $ 179 Total liabilities at fair value $ — $ 179 $ — $ 179 |
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 (dollars in thousands) June 30, 2019 Impaired loans $ — $ — $ 57,720 Other real estate owned — — 8,693 Total assets at fair value $ — $ — $ 66,413 December 31, 2018 Impaired loans $ — $ — $ 30,995 Other real estate owned — — 6,568 Total assets at fair value $ — $ — $ 37,563 |
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: June 30, 2019 Valuation Techniques Unobservable Inputs Range (Average) Impaired loans Evaluation of collateral Estimation of value NM* Other real estate owned Appraisal Appraisal adjustment 8%-61% (25%) December 31, 2018 Valuation Techniques Unobservable Inputs Range (Average) Impaired loans Evaluation of collateral Estimation of value NM* Other real estate owned Appraisal Appraisal adjustment 16%-54% (32%) Not Meaningful. |
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 were as follows: June 30, December 31, 2019 2018 Carrying Amount Fair Value Carrying Amount Fair Value Input Level (dollars in thousands) Financial assets: Cash and cash equivalents $ 116,251 $ 116,251 $ 61,087 $ 61,087 1 Securities available for sale 158,561 158,561 195,945 195,945 2 FHLB Stock 2,178 2,178 2,978 2,978 2 Loans, net of allowance for loan losses 1,131,574 1,136,362 1,190,790 1,187,330 3 Loans held for sale 7,448 7,448 2,949 2,949 3 Accrued interest receivable 3,821 3,821 3,878 3,878 2 Loan servicing rights 9,621 14,057 9,047 13,198 3 Financial liabilities: Deposits: Time 773,843 778,769 805,240 801,267 2 Other deposits 431,334 431,334 418,107 418,107 1 Other borrowings 809 809 827 827 3 Advances from FHLB 59,400 59,537 89,400 88,725 2 Subordinated debentures 44,781 44,781 44,703 44,703 3 Accrued interest payable 5,026 5,026 4,013 4,013 2 Derivative instruments, interest rate swaps 1,316 1,316 179 179 2 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 Six Months Ended June 30, June 30, 2019 2018 2019 2018 (dollars in thousands) Balance, beginning of period $ 5,019 $ 9,379 $ 6,568 $ 4,962 Assets foreclosed 4,145 1,687 5,292 6,104 Write-down of other real estate owned (250 ) (104 ) (250 ) (104 ) Net gain on sales of other real estate owned (9 ) 149 127 149 Proceeds from sale of other real estate owned (212 ) (2,107 ) (3,044 ) (2,107 ) Balance, end of period $ 8,693 $ 9,004 $ 8,693 $ 9,004 |
Income (Expenses) Applicable to Other Real Estate Owned Included in Non-Interest Expense | Income (expenses) applicable to other real estate owned included in non-interest expense included the following: For the Three Months Ended For the Six Months Ended June 30, June 30, 2019 2018 2019 2018 (dollars in thousands) Net gain (loss) on sales of other real estate owned $ (9 ) $ 149 $ 127 $ 149 Write-down of other real estate owned (250 ) (104 ) (250 ) (104 ) Operating expenses, net of rental income (85 ) (108 ) (110 ) (216 ) $ (344 ) $ (63 ) $ (233 ) $ (171 ) |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) - Accounting Standards Update 2016-02 [Member] $ in Millions | Jun. 30, 2019USD ($) |
Basis Of Presentation [Line Items] | |
Operating lease, right-of-use asset | $ 0.2 |
Operating lease, liability | $ 0.2 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings Per Share [Abstract] | ||||||
Net income from continuing operations | $ 3,704 | $ 3,762 | $ 3,850 | $ 4,054 | $ 7,466 | $ 7,904 |
Less: preferred stock dividends | 118 | 99 | 235 | 196 | ||
Income available to common shareholders for basic earnings per common share | $ 3,586 | $ 3,751 | $ 7,231 | $ 7,708 | ||
Weighted average number of common shares issued | 7,159,072 | 7,351,985 | 7,156,139 | 7,349,923 | ||
Less: weighted average treasury shares | 443,920 | 442,102 | 443,825 | 440,974 | ||
Plus: weighted average of participating restricted stock units | 30,483 | 219,315 | 23,411 | 224,550 | ||
Weighted average number of common shares and participating securities outstanding | 6,745,635 | 6,690,568 | 6,735,725 | 6,684,399 | ||
Effect of dilutive options | 20,731 | 79,368 | 21,170 | 77,518 | ||
Weighted average number of common shares outstanding used to calculate diluted earnings per common share | 6,766,366 | 6,769,936 | 6,756,895 | 6,761,917 | ||
Weighted average of anti-dilutive options | 133,147 | 131,729 |
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 | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | $ 155,585 | $ 198,997 |
Unrealized Gains | 3,272 | 236 |
Unrealized Losses | (296) | (3,288) |
Fair Value | 158,561 | 195,945 |
U.S. Government and Agency Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 3,731 | 4,368 |
Unrealized Losses | (32) | (37) |
Fair Value | 3,699 | 4,331 |
US Treasury Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 2,498 | 2,497 |
Unrealized Gains | 9 | |
Unrealized Losses | (6) | |
Fair Value | 2,507 | 2,491 |
Municipal Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 34,985 | |
Unrealized Gains | 33 | |
Unrealized Losses | (498) | |
Fair Value | 34,520 | |
Mortgage-backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 149,356 | 157,147 |
Unrealized Gains | 3,263 | 203 |
Unrealized Losses | (264) | (2,747) |
Fair Value | $ 152,355 | $ 154,603 |
Securities Available-for-Sale_2
Securities Available-for-Sale - Schedule of Amortized Cost and Fair Value of Securities Available for Sale by Contractual Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Available For Sale Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 2,498 | $ 5,848 |
Due from one to five years, Amortized Cost | 11,113 | |
Due from five to ten years, Amortized Cost | 3,731 | 8,458 |
Due after ten years, Amortized Cost | 16,431 | |
Mortgage-backed securities, Amortized Cost | 149,356 | 157,147 |
Amortized Cost | 155,585 | 198,997 |
Due in one year or less, Fair Value | 2,507 | 5,843 |
Due from one to five years, Fair Value | 10,974 | |
Due from five to ten years, Fair Value | 3,699 | 8,382 |
Due after ten years, Fair Value | 16,143 | |
Mortgage-backed securities, Fair Value | 152,355 | 154,603 |
Fair Value | $ 158,561 | $ 195,945 |
Securities Available-for-Sale_3
Securities Available-for-Sale - Additional Information (Detail) - USD ($) | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Schedule Of Available For Sale Securities [Line Items] | |||
Proceeds from sales of securities available for sale | $ 29,361,000 | $ 0 | |
Gain on available for sale securities | 341,000 | ||
FHLB Stock, at cost | 2,178,000 | $ 2,978,000 | |
Reported Value Measurement | |||
Schedule Of Available For Sale Securities [Line Items] | |||
FHLB Stock, at cost | 2,200,000 | 3,000,000 | |
Reported Value Measurement | Collateralized Federal Home Loan Bank 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 | 0 | 0 | |
Reported Value Measurement | Municipal Customer Deposits | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Available-for-sale Securities Pledged as Collateral | $ 45,500,000 | $ 53,400,000 |
Securities Available-for-Sale_4
Securities Available-for-Sale - Schedule of Fair Value and Gross Unrealized Losses of Entity's Investments (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | $ 48,707 | |
Investments with unrealized losses less than 12 months, unrealized losses | (229) | |
Investments with unrealized losses 12 months or greater, fair value | $ 33,644 | 113,027 |
Investments with unrealized losses 12 months or greater, unrealized losses | (296) | (3,059) |
Investments with unrealized losses, fair value | 33,644 | 161,734 |
Investments with unrealized losses, unrealized losses | (296) | (3,288) |
U.S. Government and Agency Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses 12 months or greater, fair value | 3,699 | 4,331 |
Investments with unrealized losses 12 months or greater, unrealized losses | (32) | (37) |
Investments with unrealized losses, fair value | 3,699 | 4,331 |
Investments with unrealized losses, unrealized losses | (32) | (37) |
US Treasury Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | 2,491 | |
Investments with unrealized losses less than 12 months, unrealized losses | (6) | |
Investments with unrealized losses, fair value | 2,491 | |
Investments with unrealized losses, unrealized losses | (6) | |
Municipal Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | 4,291 | |
Investments with unrealized losses less than 12 months, unrealized losses | (15) | |
Investments with unrealized losses 12 months or greater, fair value | 25,377 | |
Investments with unrealized losses 12 months or greater, unrealized losses | (483) | |
Investments with unrealized losses, fair value | 29,668 | |
Investments with unrealized losses, unrealized losses | (498) | |
Mortgage-backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | 41,925 | |
Investments with unrealized losses less than 12 months, unrealized losses | (208) | |
Investments with unrealized losses 12 months or greater, fair value | 29,945 | 83,319 |
Investments with unrealized losses 12 months or greater, unrealized losses | (264) | (2,539) |
Investments with unrealized losses, fair value | 29,945 | 125,244 |
Investments with unrealized losses, unrealized losses | $ (264) | $ (2,747) |
Loans - Components of Loans (De
Loans - Components of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Receivables [Abstract] | ||||||
Agricultural loans | $ 713,602 | $ 724,508 | ||||
Commercial real estate loans | 268,544 | 299,212 | ||||
Commercial loans | 114,998 | 116,460 | ||||
Residential real estate loans | 50,436 | 66,843 | ||||
Installment and consumer other | 252 | 272 | ||||
Total gross loans | 1,147,832 | 1,207,295 | ||||
Allowance for loan losses | (16,258) | $ (17,493) | (16,505) | $ (15,129) | $ (14,612) | $ (13,247) |
Net loans | $ 1,131,574 | $ 1,190,790 |
Loans - Changes in Allowance fo
Loans - Changes in Allowance for Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Accounts Notes And Loans Receivable [Line Items] | ||||
Balance, beginning of period | $ 17,493 | $ 14,612 | $ 16,505 | $ 13,247 |
Provision for loan losses | 876 | 533 | 1,628 | 630 |
Loans charged off | (3,194) | (3,584) | (42) | |
Recoveries | 1,083 | (16) | 1,709 | 1,294 |
Balance, end of period | 16,258 | 15,129 | 16,258 | 15,129 |
Agricultural | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Balance, beginning of period | 12,123 | 11,250 | 12,258 | 9,712 |
Provision for loan losses | 1,509 | 378 | 1,374 | 1,915 |
Recoveries | 15 | 15 | 1 | |
Balance, end of period | 13,647 | 11,628 | 13,647 | 11,628 |
Commercial Real Estate | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Balance, beginning of period | 4,152 | 2,058 | 2,779 | 1,978 |
Provision for loan losses | (1,003) | (166) | 135 | (1,284) |
Loans charged off | (2,234) | (2,624) | (42) | |
Recoveries | 967 | 11 | 1,592 | 1,251 |
Balance, end of period | 1,882 | 1,903 | 1,882 | 1,903 |
Commercial | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Balance, beginning of period | 1,201 | 1,257 | 1,414 | 1,508 |
Provision for loan losses | 367 | 322 | 153 | 3 |
Loans charged off | (960) | (960) | ||
Recoveries | 101 | (27) | 102 | 41 |
Balance, end of period | 709 | 1,552 | 709 | 1,552 |
Residential Real Estate | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Balance, beginning of period | 16 | 45 | 53 | 47 |
Provision for loan losses | 3 | (1) | (34) | (3) |
Balance, end of period | 19 | 44 | 19 | 44 |
Installment and Consumer Other | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Balance, beginning of period | 1 | 2 | 1 | 2 |
Provision for loan losses | (1) | |||
Recoveries | 1 | |||
Balance, end of period | $ 1 | $ 2 | $ 1 | $ 2 |
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 | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | $ 57,720 | $ 53,104 |
Loans collectively evaluated for impairment | 1,073,854 | 1,137,686 |
Net loans | 1,131,574 | 1,190,790 |
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 3,710 | 3,653 |
Allowance for loan losses collectively evaluated for impairment | 12,548 | 12,852 |
Total | 16,258 | 16,505 |
Loans: | ||
Loans individually evaluated for impairment | 61,430 | 56,757 |
Loans collectively evaluated for impairment | 1,086,402 | 1,150,538 |
Total gross loans | 1,147,832 | 1,207,295 |
Agricultural Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 3,415 | 2,325 |
Allowance for loan losses collectively evaluated for impairment | 10,232 | 9,933 |
Total | 13,647 | 12,258 |
Loans: | ||
Loans individually evaluated for impairment | 59,876 | 52,947 |
Loans collectively evaluated for impairment | 653,726 | 671,561 |
Total gross loans | 713,602 | 724,508 |
Commercial Real Estate Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 5 | 583 |
Allowance for loan losses collectively evaluated for impairment | 1,877 | 2,196 |
Total | 1,882 | 2,779 |
Loans: | ||
Loans individually evaluated for impairment | 1,022 | 2,037 |
Loans collectively evaluated for impairment | 267,522 | 297,175 |
Total gross loans | 268,544 | 299,212 |
Commercial Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 290 | 745 |
Allowance for loan losses collectively evaluated for impairment | 419 | 669 |
Total | 709 | 1,414 |
Loans: | ||
Loans individually evaluated for impairment | 532 | 1,773 |
Loans collectively evaluated for impairment | 114,466 | 114,687 |
Total gross loans | 114,998 | 116,460 |
Residential Real Estate Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses collectively evaluated for impairment | 19 | 53 |
Total | 19 | 53 |
Loans: | ||
Loans collectively evaluated for impairment | 50,436 | 66,843 |
Total gross loans | 50,436 | 66,843 |
Installment and consumer other | ||
Allowance for loan losses: | ||
Allowance for loan losses collectively evaluated for impairment | 1 | 1 |
Total | 1 | 1 |
Loans: | ||
Loans collectively evaluated for impairment | 252 | 272 |
Total gross loans | $ 252 | $ 272 |
Loans - Impairment by Class of
Loans - Impairment by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Loans Receivable Evaluated For Impairment [Line Items] | |||
Impaired Loans with No Related Allowance Recorded, unpaid principal balance | $ 20,020 | $ 22,673 | |
Impaired Loans with No Related Allowance Recorded, recorded investment | 19,986 | 22,109 | |
Impaired Loans with No Related Allowance Recorded, allowance for loan losses allocated | 0 | 0 | |
Impaired Loans with an Allowance Recorded, unpaid principal balance | 43,812 | 36,453 | |
Impaired Loans with an Allowance Recorded, recorded investment | 41,444 | 34,648 | |
Impaired Loans with an Allowance Recorded, allowance for loan losses allocated | 3,653 | ||
Unpaid principal balance | 63,832 | 59,126 | $ 47,629 |
Recorded investment | 61,430 | 56,757 | 47,082 |
Allowance for loan losses allocated | 3,710 | 3,653 | $ 3,646 |
Agricultural Loans | |||
Loans Receivable Evaluated For Impairment [Line Items] | |||
Impaired Loans with No Related Allowance Recorded, unpaid principal balance | 20,020 | 22,218 | |
Impaired Loans with No Related Allowance Recorded, recorded investment | 19,986 | 21,654 | |
Impaired Loans with No Related Allowance Recorded, allowance for loan losses allocated | 0 | 0 | |
Impaired Loans with an Allowance Recorded, unpaid principal balance | 42,251 | 33,090 | |
Impaired Loans with an Allowance Recorded, recorded investment | 39,890 | 31,293 | |
Impaired Loans with an Allowance Recorded, allowance for loan losses allocated | 3,415 | 2,325 | |
Commercial Real Estate Loans | |||
Loans Receivable Evaluated For Impairment [Line Items] | |||
Impaired Loans with No Related Allowance Recorded, unpaid principal balance | 0 | 0 | |
Impaired Loans with No Related Allowance Recorded, recorded investment | 0 | 0 | |
Impaired Loans with No Related Allowance Recorded, allowance for loan losses allocated | 0 | 0 | |
Impaired Loans with an Allowance Recorded, unpaid principal balance | 1,022 | 2,037 | |
Impaired Loans with an Allowance Recorded, recorded investment | 1,022 | 2,037 | |
Impaired Loans with an Allowance Recorded, allowance for loan losses allocated | 5 | 583 | |
Commercial Loans | |||
Loans Receivable Evaluated For Impairment [Line Items] | |||
Impaired Loans with No Related Allowance Recorded, unpaid principal balance | 455 | ||
Impaired Loans with No Related Allowance Recorded, recorded investment | 455 | ||
Impaired Loans with No Related Allowance Recorded, allowance for loan losses allocated | 0 | 0 | |
Impaired Loans with an Allowance Recorded, unpaid principal balance | 539 | 1,326 | |
Impaired Loans with an Allowance Recorded, recorded investment | 532 | 1,318 | |
Impaired Loans with an Allowance Recorded, allowance for loan losses allocated | 290 | 745 | |
Residential Real Estate Loans | |||
Loans Receivable Evaluated For Impairment [Line Items] | |||
Impaired Loans with No Related Allowance Recorded, unpaid principal balance | 0 | 0 | |
Impaired Loans with No Related Allowance Recorded, recorded investment | 0 | 0 | |
Impaired Loans with No Related Allowance Recorded, allowance for loan losses allocated | 0 | 0 | |
Impaired Loans with an Allowance Recorded, unpaid principal balance | 0 | 0 | |
Impaired Loans with an Allowance Recorded, recorded investment | 0 | 0 | |
Impaired Loans with an Allowance Recorded, allowance for loan losses allocated | $ 0 | $ 0 |
Loans - Schedule of Aging of Re
Loans - Schedule of Aging of Recorded Investment in Past Due Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | $ 11,275 | $ 12,034 |
Loans Not Past Due | 1,136,557 | 1,195,261 |
Total gross loans | 1,147,832 | 1,207,295 |
Financing Receivables 30 To 59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 4,135 | 460 |
Financing Receivables 60 To 89 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 735 | 969 |
Financing Receivables Equal To Greater Than 90 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 6,405 | 10,605 |
Agricultural Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 7,760 | 9,397 |
Loans Not Past Due | 705,842 | 715,111 |
Total gross loans | 713,602 | 724,508 |
Agricultural Loans | Financing Receivables 30 To 59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 1,221 | 460 |
Agricultural Loans | Financing Receivables 60 To 89 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 580 | 969 |
Agricultural Loans | Financing Receivables Equal To Greater Than 90 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 5,959 | 7,968 |
Commercial Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 2,823 | 2,037 |
Loans Not Past Due | 265,721 | 297,175 |
Total gross loans | 268,544 | 299,212 |
Commercial Real Estate Loans | Financing Receivables 30 To 59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 2,823 | |
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 | 2,037 | |
Commercial Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 629 | 600 |
Loans Not Past Due | 114,369 | 115,860 |
Total gross loans | 114,998 | 116,460 |
Commercial Loans | Financing Receivables 30 To 59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 28 | |
Commercial Loans | Financing Receivables 60 To 89 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 155 | |
Commercial Loans | Financing Receivables Equal To Greater Than 90 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 446 | 600 |
Residential Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 63 | |
Loans Not Past Due | 50,373 | 66,843 |
Total gross loans | 50,436 | 66,843 |
Residential Real Estate Loans | Financing Receivables 30 To 59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Past Due | 63 | |
Installment and consumer other | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Not Past Due | 252 | 272 |
Total gross loans | $ 252 | $ 272 |
Loans - Nonaccrual, Troubled De
Loans - Nonaccrual, Troubled Debt Restructured and Loans 90 Days or More Past Due and Still Accruing (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Nonaccrual loans, past due | $ 11,275 | $ 12,034 |
Troubled debt restructured loans not on nonaccrual status | 28,892 | 19,389 |
Total | 48,989 | 42,372 |
Financing Receivables Equal To Greater Than 90 Days Past Due | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Nonaccrual loans, past due | 6,405 | 10,605 |
Financing Receivables 30 To 89 Days Past Due | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Nonaccrual loans, past due | 549 | 868 |
Financing Receivables 1 To 29 Days Past Due | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Nonaccrual loans, past due | $ 13,143 | $ 11,510 |
Loans - Recorded Investment in
Loans - Recorded Investment in Nonaccrual Loans and Loans 90 Days or More Past Due and Still Accruing (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due 90 days or more | $ 20,097 | $ 22,983 |
Agricultural Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due 90 days or more | 19,565 | 19,173 |
Commercial Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due 90 days or more | 2,037 | |
Commercial Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due 90 days or more | $ 532 | $ 1,773 |
Loans - Average Recorded Invest
Loans - Average Recorded Investment and Interest Income Recognized on Impaired Loans by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | $ 63,832 | $ 47,629 | $ 63,832 | $ 47,629 | $ 59,126 |
Recorded Investment | 61,430 | 47,082 | 61,430 | 47,082 | 56,757 |
Allowance for Loan Losses Allocated | 3,710 | 3,646 | 3,710 | 3,646 | $ 3,653 |
Average Recorded Investment | 61,425 | 42,178 | 59,095 | 40,043 | |
Interest Income Recognized | 1,539 | 801 | 2,738 | 1,448 | |
Agricultural Loans | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 62,271 | 43,374 | 62,271 | 43,374 | |
Recorded Investment | 59,876 | 42,838 | 59,876 | 42,838 | |
Allowance for Loan Losses Allocated | 3,415 | 2,855 | 3,415 | 2,855 | |
Average Recorded Investment | 57,064 | 39,192 | 56,412 | 35,791 | |
Interest Income Recognized | 1,531 | 771 | 2,704 | 1,416 | |
Commercial Real Estate Loans | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 539 | 2,372 | 539 | 2,372 | |
Recorded Investment | 1,022 | 2,366 | 1,022 | 2,366 | |
Allowance for Loan Losses Allocated | 5 | 10 | 5 | 10 | |
Average Recorded Investment | 3,527 | 1,470 | 1,530 | 2,416 | |
Interest Income Recognized | 7 | 6 | 31 | 6 | |
Commercial Loans | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 1,022 | 1,883 | 1,022 | 1,883 | |
Recorded Investment | 532 | 1,878 | 532 | 1,878 | |
Allowance for Loan Losses Allocated | 290 | 781 | 290 | 781 | |
Average Recorded Investment | 834 | 1,516 | 1,153 | 1,836 | |
Interest Income Recognized | $ 1 | $ 24 | $ 3 | 25 | |
Residential Real Estate Loans | |||||
Financing Receivable Impaired [Line Items] | |||||
Interest Income Recognized | $ 1 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Receivables [Abstract] | |||
Impaired loans on nonaccrual and restructured loans that are past due and still accruing | 90 days | ||
Interest income recognized for nonaccrual loans | $ 1,000,000 | $ 1,000,000 | |
Specific reserve to customers whose loan terms have been modified in TDR | 3,000,000 | $ 2,000,000 | |
Additional lending commitments to customers with outstanding loans that are classified as TDRs | 0 | $ 0 | |
Minimum exposure for annual internal credit review | $ 300,000 |
Loans - TDRs by Loan Class (Det
Loans - TDRs by Loan Class (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Non-Accrual | $ 20,097 | $ 22,983 | |
Restructured and Accruing | 28,892 | 19,389 | |
Total | 15,252 | $ 5,375 | |
TDR Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Non-Accrual | 10,371 | 12,126 | |
Restructured and Accruing | 28,892 | 19,389 | |
Total | 39,263 | 31,515 | |
Agricultural Loans | TDR Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Non-Accrual | 9,839 | 12,034 | |
Restructured and Accruing | 27,870 | 19,389 | |
Total | 37,709 | 31,423 | |
Commercial Real Estate Loans | TDR Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Restructured and Accruing | 1,022 | ||
Total | 1,022 | ||
Commercial Loans | TDR Loans | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Non-Accrual | 532 | 92 | |
Total | $ 532 | $ 92 |
Loans - Number of Loans Modifie
Loans - Number of Loans Modified in Troubled Debt Restructuring Investment by Class (Detail) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019USD ($)Loan | Jun. 30, 2018USD ($)Loan | |
Accounts Notes And Loans Receivable [Line Items] | ||
Number of Loans | Loan | 35 | 15 |
Recorded Investment | $ | $ 15,252 | $ 5,375 |
Agricultural Loans | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Number of Loans | Loan | 33 | 15 |
Recorded Investment | $ | $ 13,784 | $ 5,375 |
Commercial Real Estate Loans | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Number of Loans | Loan | 1 | |
Recorded Investment | $ | $ 1,022 | |
Commercial Loans | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Number of Loans | Loan | 1 | |
Recorded Investment | $ | $ 446 |
Loans - Summary of Troubled Deb
Loans - Summary of Troubled Debt Restructurings Grouped by Type of Concession (Detail) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019USD ($)Loan | Jun. 30, 2018USD ($)Loan | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 35 | 15 |
Recorded Investment | $ | $ 15,252 | $ 5,375 |
Agricultural Loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 33 | 15 |
Recorded Investment | $ | $ 13,784 | $ 5,375 |
Agricultural Loans | Payment Concessions | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 5 | 9 |
Recorded Investment | $ | $ 777 | $ 3,744 |
Agricultural Loans | Term concessions | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 2 | |
Recorded Investment | $ | $ 453 | |
Agricultural Loans | Rate concessions | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 1 | |
Recorded Investment | $ | $ 85 | |
Agricultural Loans | Extension of Interest-Only Payments | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 24 | 6 |
Recorded Investment | $ | $ 12,317 | $ 1,631 |
Agricultural Loans | Capitalized interest | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 1 | |
Recorded Investment | $ | $ 152 | |
Commercial Real Estate Loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 1 | |
Recorded Investment | $ | $ 1,022 | |
Commercial Real Estate Loans | Payment Concessions | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 1 | |
Recorded Investment | $ | $ 1,022 | |
Commercial Loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 1 | |
Recorded Investment | $ | $ 446 | |
Commercial Loans | Combination of Extension of Term and Interest Rate Concessions | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Number of Loans | Loan | 1 | |
Recorded Investment | $ | $ 446 |
Loans - Risk Category of Loans
Loans - Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Long Term Debt [Line Items] | ||
Agricultural loans | $ 713,602 | $ 724,508 |
Commercial real estate loans | 268,544 | 299,212 |
Commercial loans | 114,998 | 116,460 |
Residential real estate loans | 50,436 | 66,843 |
Installment and consumer other | 252 | 272 |
Total gross loans | 1,147,832 | 1,207,295 |
Sound/ Acceptable/ Satisfactory/ Low Satisfactory | ||
Long Term Debt [Line Items] | ||
Agricultural loans | 440,222 | 495,418 |
Commercial real estate loans | 244,942 | 253,853 |
Commercial loans | 101,626 | 95,842 |
Residential real estate loans | 49,945 | 62,787 |
Installment and consumer other | 252 | 272 |
Total gross loans | 836,987 | 908,172 |
Watch | ||
Long Term Debt [Line Items] | ||
Agricultural loans | 147,155 | 133,582 |
Commercial real estate loans | 11,103 | 18,968 |
Commercial loans | 9,309 | 15,237 |
Residential real estate loans | 257 | 3,883 |
Total gross loans | 167,824 | 171,670 |
Special Mention | ||
Long Term Debt [Line Items] | ||
Agricultural loans | 24,939 | 564 |
Commercial real estate loans | 206 | 4,642 |
Commercial loans | 110 | 1,360 |
Total gross loans | 25,255 | 6,566 |
Substandard Performing | ||
Long Term Debt [Line Items] | ||
Agricultural loans | 41,410 | 41,997 |
Commercial real estate loans | 11,271 | 19,712 |
Commercial loans | 3,421 | 2,248 |
Residential real estate loans | 234 | 173 |
Total gross loans | 56,336 | 64,130 |
Substandard Impaired | ||
Long Term Debt [Line Items] | ||
Agricultural loans | 59,876 | 52,947 |
Commercial real estate loans | 1,022 | 2,037 |
Commercial loans | 532 | 1,773 |
Total gross loans | $ 61,430 | $ 56,757 |
Loan Servicing Rights - Additio
Loan Servicing Rights - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Servicing Assets at Fair Value [Line Items] | ||
Unpaid principal balance of mortgage | $ 695.6 | $ 661.3 |
Servicing assets and servicing liabilities at fair value, assumptions used to estimate fair value, discount rate | 20.00% | |
Level 3 Inputs | ||
Servicing Assets at Fair Value [Line Items] | ||
Loan servicing rights, fair value | $ 14.1 | $ 13.2 |
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Transfers And Servicing [Abstract] | ||
Balance, beginning of period | $ 9,047 | $ 8,950 |
Additions | 1,941 | 2,879 |
Impairment | (263) | (597) |
Amortization | (1,104) | (2,185) |
Balance, end of period | $ 9,621 | $ 9,047 |
Goodwill and Core Deposit Int_3
Goodwill and Core Deposit Intangible - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
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 | |
Core Deposit | Fox River Valley | ||
Goodwill And Intangible Assets [Line Items] | ||
Gross carrying amount of intangible assets | $ 1,801 | $ 1,801 |
Goodwill and Core Deposit Int_4
Goodwill and Core Deposit Intangible - Core Deposit Intangible (Detail) - Core Deposit - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Core deposit intangible: | ||
Accumulated amortization | $ (1,447) | $ (1,288) |
Net book value | 354 | 513 |
Fox River Valley | ||
Core deposit intangible: | ||
Gross carrying amount | 1,801 | 1,801 |
Accumulated amortization | (1,447) | (1,288) |
Net book value | $ 354 | $ 513 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Deposits [Abstract] | ||
Demand deposits | $ 111,022 | $ 121,436 |
NOW and interest checking | 54,253 | 51,779 |
Savings | 6,621 | 5,770 |
Money market accounts | 239,337 | 218,929 |
Certificates of deposit | 387,899 | 356,484 |
National time deposits | 149,570 | 160,445 |
Brokered deposits | 256,475 | 308,504 |
Total deposits | $ 1,205,177 | $ 1,223,347 |
Advances From FHLB and Other _3
Advances From FHLB and Other Borrowings - Additional Information (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | ||
Advances from FHLB | $ 59,400,000 | $ 89,400,000 |
Irrevocable letters of credit | 0 | 0 |
Other borrowings | 809,000 | 827,000 |
Collateralized Loan Obligations | ||
Debt Instrument [Line Items] | ||
Other borrowings | 800,000 | 800,000 |
Federal Reserve Bank Of Chicago | ||
Debt Instrument [Line Items] | ||
Line of credit amount outstanding | 145,700,000 | 143,400,000 |
Other borrowings | 0 | 0 |
U S Bank National Association | Revolving Credit Facility | ||
Debt Instrument [Line Items] | ||
Line of credit amount outstanding | 0 | 0 |
Line of credit facility maximum borrowing capacity | $ 15,000,000 | 15,000,000 |
Line of credit, non-usage fee percentage per annum | 0.275% | |
U S Bank National Association | Revolving Credit Facility | One month LIBOR | ||
Debt Instrument [Line Items] | ||
Basis spread on variable rate | 2.25% | |
Mortgage Loans | ||
Debt Instrument [Line Items] | ||
Pledged qualifying mortgage loans | $ 431,500,000 | $ 453,800,000 |
Advances from FHLB and Other _4
Advances from FHLB and Other Borrowings - Advances Outstanding from FHLB (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | ||
Advances from FHLB | $ 59,400 | $ 89,400 |
Fixed rate, short term, Advance for FHLB, 1 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jan. 2, 2019 | |
Advances from FHLB, Rate | 2.54% | |
Advances from FHLB | 3,000 | |
Fixed rate, fixed term, Advance for FHLB, 2 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jan. 4, 2019 | |
Advances from FHLB, Rate | 2.55% | |
Advances from FHLB | 12,000 | |
Fixed rate, fixed term, Advance for FHLB, 3 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Feb. 27, 2019 | |
Advances from FHLB, Rate | 1.47% | |
Advances from FHLB | 5,000 | |
Fixed rate, fixed term, Advance for FHLB, 4 | ||
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, 5 | ||
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, 6 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Aug. 12, 2019 | |
Advances from FHLB, Rate | 2.24% | |
Advances from FHLB | $ 5,000 | 5,000 |
Fixed rate, fixed term, Advance for FHLB, 7 | ||
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, 8 | ||
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, 9 | ||
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, 10 | ||
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, 11 | ||
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, 12 | ||
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, 13 | ||
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, 14 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Apr. 12, 2021 | |
Advances from FHLB, Rate | 1.92% | |
Advances from FHLB | $ 8,000 | 8,000 |
Fixed rate, fixed term, Advance for FHLB, 15 | ||
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, 16 | ||
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, 17 | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Dec. 30, 2021 | |
Advances from FHLB, Rate | 2.29% | |
Advances from FHLB | $ 2,000 | 2,000 |
Fixed rate, putable, no call 2 years | ||
Debt Instrument [Line Items] | ||
Advances from FHLB, Maturity | Jan. 12, 2023 | |
Advances from FHLB, Rate | 2.03% | |
Advances from FHLB | $ 8,000 | $ 8,000 |
Advances from FHLB and Other _5
Advances from FHLB and Other Borrowings - Future Maturities of FHLB Borrowings (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Federal Home Loan Banks [Abstract] | ||
1 year or less | $ 20,000 | $ 45,000 |
1 to 2 years | 26,400 | 18,400 |
2 to 3 years | 5,000 | 18,000 |
3 to 4 years | 8,000 | 8,000 |
Advances from FHLB | $ 59,400 | $ 89,400 |
Advances from FHLB and Other _6
Advances from FHLB and Other Borrowings - Balances and Interest Rates on Other Borrowings (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Other Borrowings: | ||
Balance outstanding at end of period | $ 809 | $ 827 |
Average amount outstanding during the period | 1,204 | 1,027 |
Maximum amount outstanding at any month end | $ 1,412 | $ 1,278 |
Weighted average interest rate during the period | 4.47% | 4.81% |
Weighted average interest rate at end of period | 4.51% | 4.51% |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | 36 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Share-based compensation expense | $ 262 | $ 259 | |
Unrecognized share-based compensation expense related to nonvested options and restricted stock awards amounted | 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 | 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 Awards | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Share-based compensation expense | $ 262 | $ 259 | |
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 | 1 year 11 months 23 days | ||
2016 Long Term Incentive Plan | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Number of options granted under plan | 14,237 | 175,703 | |
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 | 175,703 |
Equity Incentive Plan - Status
Equity Incentive Plan - Status and Changes in Stock Option Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 36 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2019 | ||
Number of Options | ||||||
Options, Exercised | (5,000) | (9,640) | (2,952) | |||
2016 Long Term Incentive Plan | ||||||
Number of Options | ||||||
Options, Outstanding beginning of year | 208,988 | |||||
Options, Granted | 14,237 | 175,703 | ||||
Options, Exercised | (5,000) | |||||
Options, Forfeited/expired | (3,355) | |||||
Options, Outstanding end of period | 214,870 | 214,870 | 214,870 | |||
Options exercisable at period-end | 173,836 | 173,836 | 173,836 | |||
Weighted-Average Exercise Price | ||||||
Weighted Average Exercise price, Outstanding, beginning of year | $ 18.15 | |||||
Weighted Average Exercise Price, Granted | 18.06 | |||||
Weighted Average Exercise Price, Exercised | 12 | |||||
Weighted Average Exercise Price, Forfeited/expired | 19.88 | |||||
Weighted Average Exercise Price, Outstanding, end of period | $ 18.26 | 18.26 | $ 18.26 | |||
Weighted Average Exercise Price, Options exercisable at period-end | $ 17.27 | 17.27 | $ 17.27 | |||
Weighted-average fair value of options granted during the period | [1] | $ 6.31 | ||||
Aggregate Intrinsic Value | ||||||
Aggregate Intrinsic Value, Outstanding, end of period | [2] | $ 847 | $ 847 | $ 847 | ||
Aggregate Intrinsic Value, Options exercisable at period-end | [2] | $ 713 | $ 713 | $ 713 | ||
[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 June 30, 2019. 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) | 6 Months Ended |
Jun. 30, 2019$ / sharesshares | |
Restricted Stock Awards | |
Number of Non-Vested Shares | |
Outstanding, beginning of year | shares | 28,701 |
Vested | shares | (11,552) |
Forfeited/expired | shares | (226) |
Outstanding, end of period | shares | 16,923 |
Weighted Average Grant Date Fair Value | |
Weighted Average Grant Price Outstanding, Beginning of year | $ / shares | $ 21.02 |
Weighted Average Grant Price, Vested | $ / shares | 19.19 |
Weighted Average Grant Price, Forfeited or expired | $ / shares | 27.15 |
Weighted Average Grant Price Outstanding, End of year | $ / shares | $ 22.19 |
Restricted Stock Units | |
Number of Non-Vested Shares | |
Outstanding, beginning of year | shares | 11,772 |
Granted | shares | 24,382 |
Vested and common shares issued | shares | (3,654) |
Forfeited/expired | shares | (375) |
Outstanding, end of period | shares | 32,125 |
Weighted Average Grant Date Fair Value | |
Weighted Average Grant Price Outstanding, Beginning of year | $ / shares | $ 27.15 |
Weighted Average Grant Price Outstanding, Granted | $ / shares | 17.54 |
Weighted Average Grant Price Outstanding, Vested and common shares issued | $ / shares | 27.42 |
Weighted Average Grant Price, Forfeited or expired | $ / shares | 18.11 |
Weighted Average Grant Price Outstanding, End of year | $ / shares | $ 21.91 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Thousands | Jan. 01, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Tier 1 leverage capital | $ 193,871 | $ 164,675 | |
Tier 1 leverage ratio | 13.12% | 11.09% | |
Capital conservative buffer period | 3 years | ||
Capital conservative buffer percentage | 2.50% | 2.50% | 1.875% |
Maximum | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Tier 1 leverage capital | $ 10,000,000 | ||
Tier 1 leverage ratio | 10.00% | ||
Minimum | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Tier 1 leverage ratio | 8.00% |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Actual Capital Amounts and Ratios of Bank's (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total Capital (to risk weighted assets), Actual Amount | $ 209,648 | $ 210,768 | |
Total Capital (to risk weighted assets), Actual Ratio | 16.62% | 15.81% | |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Amount | [1] | $ 132,462 | $ 131,664 |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Ratio | [1] | 10.50% | 9.875% |
Total Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 126,154 | $ 0 | |
Total Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | ||
Tier 1 Capital (to risk weighted assets), Actual Amount | $ 193,871 | $ 164,675 | |
Tier 1 Capital (to risk weighted assets), Actual Ratio | 15.37% | 12.35% | |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | [1] | $ 107,231 | $ 104,998 |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | [1] | 8.50% | 7.875% |
Tier 1 Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 100,923 | $ 0 | |
Tier 1 Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | ||
Tier 1 Capital (to average assets), Actual Amount | $ 193,871 | $ 164,675 | |
Tier 1 Capital (to average assets), Actual Ratio | 13.12% | 11.09% | |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Amount | [1] | $ 59,124 | $ 59,374 |
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 | $ 73,905 | $ 0 | |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | ||
Tier 1 Common Equity (to risk weighted assets), Actual Amount | $ 193,871 | $ 141,085 | |
Tier 1 Common Equity (to risk weighted assets), Actual Ratio | 15.37% | 10.58% | |
Tier 1 Common Equity (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | [1] | $ 88,308 | $ 84,999 |
Tier 1 Common Equity (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | [1] | 7.00% | 6.375% |
Tier 1 Common Equity (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 82,000 | ||
Tier 1 Common Equity (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | ||
Bank | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total Capital (to risk weighted assets), Actual Amount | $ 204,327 | ||
Total Capital (to risk weighted assets), Actual Ratio | 15.35% | ||
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Amount | [1] | $ 131,488 | |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Ratio | [1] | 9.875% | |
Total Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 133,153 | ||
Total Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | ||
Tier 1 Capital (to risk weighted assets), Actual Amount | $ 187,679 | ||
Tier 1 Capital (to risk weighted assets), Actual Ratio | 14.09% | ||
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | [1] | $ 104,858 | |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | [1] | 7.875% | |
Tier 1 Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 106,522 | ||
Tier 1 Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | ||
Tier 1 Capital (to average assets), Actual Amount | $ 187,679 | ||
Tier 1 Capital (to average assets), Actual Ratio | 12.44% | ||
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Amount | [1] | $ 60,330 | |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Ratio | [1] | 4.00% | |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Amount | $ 75,413 | ||
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | ||
Tier 1 Common Equity (to risk weighted assets), Actual Amount | $ 187,679 | ||
Tier 1 Common Equity (to risk weighted assets), Actual Ratio | 14.09% | ||
Tier 1 Common Equity (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | [1] | $ 84,885 | |
Tier 1 Common Equity (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | [1] | 6.375% | |
Tier 1 Common Equity (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 86,549 | ||
Tier 1 Common Equity (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | ||
[1] | The ratios for June 30, 2019 and December 31, 2018 include a capital conservation buffer of 2.5% and 1.875%, respectively. |
Regulatory Matters - Summary _2
Regulatory Matters - Summary of Actual Capital Amounts and Ratios of Bank's (Parenthetical) (Detail) | Jan. 01, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Regulatory Capital Requirements [Abstract] | |||
Capital conservative buffer percentage | 2.50% | 2.50% | 1.875% |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | $ 158,561 | $ 195,945 |
Fair Value on a Recurring Basis | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 158,561 | 195,945 |
Total liabilities at fair value | 1,316 | 179 |
Fair Value on a Recurring Basis | Derivative Instruments, Interest Rate Swaps | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | 1,316 | 179 |
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 | 3,699 | 4,331 |
Fair Value on a Recurring Basis | US Treasury Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 2,507 | 2,491 |
Fair Value on a Recurring Basis | Mortgage-backed Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 152,355 | 154,603 |
Fair Value on a Recurring Basis | Municipal Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 34,520 | |
Fair Value on a Recurring Basis | Level 2 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 158,561 | 195,945 |
Total liabilities at fair value | 1,316 | 179 |
Fair Value on a Recurring Basis | Level 2 Inputs | Derivative Instruments, Interest Rate Swaps | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | 1,316 | 179 |
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 | 3,699 | 4,331 |
Fair Value on a Recurring Basis | Level 2 Inputs | US Treasury Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 2,507 | 2,491 |
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 | $ 152,355 | 154,603 |
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 | $ 34,520 |
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 - Level 3 Inputs - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 66,413 | $ 37,563 |
Impaired Loans | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 57,720 | 30,995 |
Other Real Estate Owned | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 8,693 | $ 6,568 |
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Impaired Loans | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Valuation Techniques | icbk:EvaluationOfCollateralMember | icbk:EvaluationOfCollateralMember |
Unobservable Inputs | Estimation of value | Estimation of value |
Other Real Estate Owned | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Valuation Techniques | icbk:AppraisalMember | icbk:AppraisalMember |
Unobservable Inputs | Appraisal adjustment | Appraisal adjustment |
Other Real Estate Owned | Minimum | Measurement Input, Comparability Adjustment | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Range (Average) | 0.08 | 0.16 |
Other Real Estate Owned | Maximum | Measurement Input, Comparability Adjustment | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Range (Average) | 0.61 | 0.54 |
Other Real Estate Owned | Weighted Average | Measurement Input, Comparability Adjustment | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Range (Average) | 0.25 | 0.32 |
Fair Value Measurements - Estim
Fair Value Measurements - Estimated Fair Values and Related Carrying or Notional Amounts of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financial assets: | ||
Securities available for sale | $ 158,561 | $ 195,945 |
Level 3 Inputs | ||
Financial assets: | ||
Loan servicing rights | 14,100 | 13,200 |
Fair Value | Level 1 Inputs | ||
Financial assets: | ||
Cash and cash equivalents | 116,251 | 61,087 |
Fair Value | Level 2 Inputs | ||
Financial assets: | ||
Securities available for sale | 158,561 | 195,945 |
FHLB Stock | 2,178 | 2,978 |
Accrued interest receivable | 3,821 | 3,878 |
Financial liabilities: | ||
Advances from FHLB | 59,537 | 88,725 |
Accrued interest payable | 5,026 | 4,013 |
Derivative instruments, interest rate swaps | 1,316 | 179 |
Fair Value | Level 3 Inputs | ||
Financial assets: | ||
Loans, net of allowance for loan losses | 1,136,362 | 1,187,330 |
Loans held for sale | 7,448 | 2,949 |
Loan servicing rights | 14,057 | 13,198 |
Financial liabilities: | ||
Other borrowings | 809 | 827 |
Subordinated debentures | 44,781 | 44,703 |
Reported Value Measurement | Level 1 Inputs | ||
Financial assets: | ||
Cash and cash equivalents | 116,251 | 61,087 |
Reported Value Measurement | Level 2 Inputs | ||
Financial assets: | ||
Securities available for sale | 158,561 | 195,945 |
FHLB Stock | 2,178 | 2,978 |
Accrued interest receivable | 3,821 | 3,878 |
Financial liabilities: | ||
Advances from FHLB | 59,400 | 89,400 |
Accrued interest payable | 5,026 | 4,013 |
Derivative instruments, interest rate swaps | 1,316 | 179 |
Reported Value Measurement | Level 3 Inputs | ||
Financial assets: | ||
Loans, net of allowance for loan losses | 1,131,574 | 1,190,790 |
Loans held for sale | 7,448 | 2,949 |
Loan servicing rights | 9,621 | 9,047 |
Financial liabilities: | ||
Other borrowings | 809 | 827 |
Subordinated debentures | 44,781 | 44,703 |
Bank Time Deposits | Fair Value | Level 2 Inputs | ||
Financial liabilities: | ||
Deposits | 778,769 | 801,267 |
Bank Time Deposits | Reported Value Measurement | Level 2 Inputs | ||
Financial liabilities: | ||
Deposits | 773,843 | 805,240 |
Other Deposits | Fair Value | Level 1 Inputs | ||
Financial liabilities: | ||
Deposits | 431,334 | 418,107 |
Other Deposits | Reported Value Measurement | Level 1 Inputs | ||
Financial liabilities: | ||
Deposits | $ 431,334 | $ 418,107 |
Other Real Estate Owned - Summa
Other Real Estate Owned - Summary of Changes in Other Real Estate Owned (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Real Estate Owned Disclosure Of Detailed Components [Abstract] | ||||
Balance, beginning of period | $ 5,019 | $ 9,379 | $ 6,568 | $ 4,962 |
Assets foreclosed | 4,145 | 1,687 | 5,292 | 6,104 |
Write-down of other real estate owned | (250) | (104) | (250) | (104) |
Net gain on sales of other real estate owned | (9) | 149 | 127 | 149 |
Proceeds from sale of other real estate owned | (212) | (2,107) | (3,044) | (2,107) |
Balance, end of period | $ 8,693 | $ 9,004 | $ 8,693 | $ 9,004 |
Other Real Estate Owned - Incom
Other Real Estate Owned - Income (Expenses) Applicable to Other Real Estate Owned Included in Non-Interest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Real Estate Owned Disclosure Of Detailed Components [Abstract] | ||||
Net gain (loss) on sales of other real estate owned | $ (9) | $ 149 | $ 127 | $ 149 |
Write-down of other real estate owned | (250) | (104) | (250) | (104) |
Operating expenses, net of rental income | (85) | (108) | (110) | (216) |
Total Expenses | $ (344) | $ (63) | $ (233) | $ (171) |
Derivative Financial Instrume_2
Derivative Financial Instruments - Additional Information (Detail) | Jun. 15, 2018Security | Jun. 30, 2019USD ($)Swap | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) |
Interest Rate Swap | ||||
Derivative [Line Items] | ||||
Number of trust preferred securities | Security | 2 | |||
Number of outstanding interest rate swap | Swap | 2 | |||
Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedging | ||||
Derivative [Line Items] | ||||
Pre-tax unrealized loss (gain) recognized in accumulated other comprehensive income | $ 1,100,000 | $ (100,000) | ||
Ineffective portion of cash flow hedge | 0 | |||
Cash collateral for derivative instrument | 1,000,000 | |||
Interest Rate Swap One | Designated as Hedging Instrument | Cash Flow Hedging | ||||
Derivative [Line Items] | ||||
Aggregate notional value | $ 6,000,000 | |||
Maturity date | Jun. 15, 2028 | |||
Interest Rate Swap Two | Designated as Hedging Instrument | Cash Flow Hedging | ||||
Derivative [Line Items] | ||||
Aggregate notional value | $ 6,000,000 | |||
Maturity date | Jun. 15, 2028 |