Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 01, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | Eagle Bancorp Montana, Inc. | ||
Entity Central Index Key | 1,478,454 | ||
Trading Symbol | ebmt | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 3,811,409 | ||
Entity Public Float | $ 39,738 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS: | ||
Cash and due from banks | $ 6,531 | $ 6,468 |
Interest bearing deposits in banks | 787 | 970 |
Total cash and cash equivalents | 7,318 | 7,438 |
Securities available-for-sale | 128,436 | 145,738 |
Federal Home Loan Bank stock | 4,012 | 3,397 |
Federal Reserve Bank stock | 871 | 887 |
Investment in Eagle Bancorp Statutory Trust I | 155 | 155 |
Mortgage loans held-for-sale | 18,230 | 18,702 |
Loans receivable, net of deferred loan fees of $1,092 at December 31, 2016 and $795 at December 31, 2015 and allowance for loan losses of $4,770 at December 31, 2016 and $3,550 at December 31, 2015 | 461,391 | 403,734 |
Accrued interest and dividends receivable | 2,123 | 2,278 |
Mortgage servicing rights, net | 5,853 | 4,968 |
Premises and equipment, net | 19,393 | 18,217 |
Cash surrender value of life insurance | 14,095 | 12,514 |
Real estate and other repossessed assets acquired in settlement of loans, net | 825 | 595 |
Goodwill | 7,034 | 7,034 |
Core deposit intangible, net | 384 | 514 |
Deferred tax asset, net | 1,965 | 1,490 |
Other assets | 1,840 | 2,686 |
Total assets | 673,925 | 630,347 |
LIABILITIES: | ||
Noninterest bearing | 82,877 | 77,031 |
Interest bearing | 429,918 | 406,151 |
Total deposits | 512,795 | 483,182 |
Accrued expenses and other liabilities | 4,291 | 4,050 |
Federal Home Loan Bank advances and other borrowings | 82,413 | 72,716 |
Principal amount | 15,155 | 15,155 |
Unamortized debt issuance costs | (185) | (206) |
Total subordinated debentures less unamortized debt issuance costs | 14,970 | 14,949 |
Total liabilities | 614,469 | 574,897 |
SHAREHOLDERS' EQUITY: | ||
Preferred stock (no par value; 1,000,000 shares authorized; no shares issued or outstanding) | ||
Common stock ($0.01 par value; 8,000,000 shares authorized; 4,083,127 shares issued; 3,811,409 and 3,779,464 shares outstanding at December 31, 2016 and 2015, respectively) | 41 | 41 |
Additional paid-in capital | 22,366 | 22,152 |
Unallocated common stock held by Employee Stock Ownership Plan | (809) | (975) |
Treasury stock, at cost | (2,971) | (3,321) |
Retained earnings | 41,240 | 37,301 |
Net accumulated other comprehensive (loss) income | (411) | 252 |
Total shareholders' equity | 59,456 | 55,450 |
Total liabilities and shareholders' equity | $ 673,925 | $ 630,347 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loans receivable, deferred loan fees | $ 1,092 | $ 795 |
Loans receivable, allowance for loan losses | $ 4,770 | $ 3,550 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 8,000,000 | 8,000,000 |
Common stock, shares issued (in shares) | 4,083,127 | 4,083,127 |
Common stock, shares outstanding (in shares) | 3,811,409 | 3,779,464 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
INTEREST AND DIVIDEND INCOME: | ||
Interest and fees on loans | $ 20,842,000 | $ 17,332,000 |
Securities available-for-sale | 2,917,000 | 3,058,000 |
Federal Home Loan Bank and Federal Reserve Bank dividends | 142,000 | 67,000 |
Trust preferred securities | 3,000 | 3,000 |
Interest on deposits in banks | 1,000 | 1,000 |
Other interest income | 6,000 | 5,000 |
Total interest and dividend income | 23,911,000 | 20,466,000 |
INTEREST EXPENSE: | ||
Deposits | 1,518,000 | 1,457,000 |
Federal Home Loan Bank advances and other borrowings | 815,000 | 550,000 |
Subordinated debentures | 785,000 | 448,000 |
Total interest expense | 3,118,000 | 2,455,000 |
NET INTEREST INCOME | 20,793,000 | 18,011,000 |
Loan loss provision | 1,833,000 | 1,303,000 |
NET INTEREST INCOME AFTER LOAN LOSS PROVISION | 18,960,000 | 16,708,000 |
NONINTEREST INCOME: | ||
Service charges on deposit accounts | 865,000 | 1,009,000 |
Net gain on sale of loans (includes $2,938 and $1,907 for 2016 and 2015, respectively, related to accumulated other comprehensive earnings reclassification) | 10,346,000 | 6,672,000 |
Mortgage loan service fees | 1,835,000 | 1,718,000 |
Wealth management income | 601,000 | 625,000 |
Interchange and ATM fees | 873,000 | 580,000 |
Appreciation in cash surrender value of life insurance | 484,000 | 426,000 |
Net gain on sale of available-for-sale securities (includes $249 and $234 for 2016 and 2015, respectively, related to accumulated other comprehensive earnings reclassification) | 249,000 | 234,000 |
Net loss on fair value hedge | 0 | (93,000) |
Net gain (loss) on sale of real estate owned and other repossessed property | 6,000 | (13,000) |
Other noninterest income | 731,000 | 603,000 |
Total noninterest income | 15,990,000 | 11,761,000 |
NONINTEREST EXPENSE: | ||
Salaries and employee benefits | 16,286,000 | 14,350,000 |
Occupancy and equipment expense | 2,815,000 | 2,988,000 |
Data processing | 1,980,000 | 2,259,000 |
Advertising | 696,000 | 800,000 |
Amortization of mortgage servicing rights | 1,249,000 | 799,000 |
Amortization of core deposit intangible and tax credits | 445,000 | 432,000 |
Federal insurance premiums | 404,000 | 332,000 |
Postage | 194,000 | 181,000 |
Legal, accounting and examination fees | 394,000 | 520,000 |
Consulting fees | 202,000 | 576,000 |
Other noninterest expense | 3,354,000 | 2,489,000 |
Total noninterest expenses | 28,019,000 | 25,726,000 |
INCOME BEFORE INCOME TAXES | 6,931,000 | 2,743,000 |
Income tax expense (includes ($455) and $321 for 2016 and 2015, respectively, related to income tax (benefit) expense from reclassification items) | 1,799,000 | 163,000 |
NET INCOME | $ 5,132,000 | $ 2,580,000 |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 1.36 | $ 0.68 |
DILUTED EARNINGS PER SHARE (in dollars per share) | $ 1.32 | $ 0.67 |
Consolidated Statements of Inc5
Consolidated Statements of Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Gain on sale of loans, accumulated other comprehensive earnings reclassification | $ 2,938 | $ 1,907 |
Net gain on sale of available-for-sale securities, accumulated other comprehensive earnings reclassification | 249 | 234 |
Income tax expense (benefit), reclassification items | $ (455) | $ 321 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 5,132 | $ 2,580 |
OTHER ITEMS OF COMPREHENSIVE (LOSS) INCOME: | ||
Change in fair value of investment securities available-for-sale, before income taxes | (792) | 883 |
Reclassification for realized gains and losses on investment securities included in income, before income taxes | (249) | (234) |
Change in fair value of derivatives designated as cash flow hedges, before income taxes | 2,861 | 2,046 |
Reclassification for realized gains on derivatives designated as cash flow hedges, before income taxes | (2,938) | (1,907) |
Total other items of comprehensive (loss) income | (1,118) | 788 |
Income tax benefit (expense) related to: | ||
Investment securities | 424 | (264) |
Derivatives designated as cash flow hedges | 31 | (57) |
Total income tax benefit (expense) | 455 | (321) |
COMPREHENSIVE INCOME | $ 4,469 | $ 3,047 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Unallocated ESOP Shares [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance, beginning at Dec. 31, 2014 | $ 41 | $ 22,122 | $ (1,141) | $ (2,194) | $ 35,885 | $ (215) | $ 54,498 |
Net income | 2,580 | 2,580 | |||||
Other comprehensive income (loss) | 467 | 467 | |||||
Dividends paid | (1,164) | (1,164) | |||||
Stock compensation expense | 204 | 204 | |||||
Treasury stock purchased (116,865 shares at $11.30 average cost per share ) | (1,320) | (1,320) | |||||
Treasury stock reissued for compensation | (193) | 193 | |||||
Employee Stock Ownership Plan shares allocated or committed to be released for allocation (16,616 shares) | 19 | 166 | 185 | ||||
Balance, ending at Dec. 31, 2015 | 41 | 22,152 | (975) | (3,321) | 37,301 | 252 | 55,450 |
Net income | 5,132 | 5,132 | |||||
Other comprehensive income (loss) | (663) | (663) | |||||
Dividends paid | (1,193) | (1,193) | |||||
Stock compensation expense | 500 | 500 | |||||
Treasury stock reissued for compensation | (350) | 350 | |||||
Employee Stock Ownership Plan shares allocated or committed to be released for allocation (16,616 shares) | 64 | 166 | 230 | ||||
Balance, ending at Dec. 31, 2016 | $ 41 | $ 22,366 | $ (809) | $ (2,971) | $ 41,240 | $ (411) | $ 59,456 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Treasury Stock [Member] | ||
Treasury stock purchased, shares (in shares) | 116,865 | |
Treasury stock purchased, cost per share (in dollars per share) | $ 11.30 | |
Unallocated ESOP Shares [Member] | ||
ESOP shares allocated or committed to be released for allocation, shares (in shares) | 16,616 | 16,616 |
Treasury stock reissued, shares (in shares) | 31,945 | 17,548 |
Treasury stock reissued, cost per share (in dollars per share) | $ 10.97 | $ 10.97 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 5,132,000 | $ 2,580,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Loan loss provision | 1,833,000 | 1,303,000 |
Depreciation | 1,058,000 | 1,231,000 |
Net amortization of investment securities premiums and discounts | 1,838,000 | 1,988,000 |
Amortization of mortgage servicing rights | 1,249,000 | 799,000 |
Amortization of core deposit intangible and tax credits | 445,000 | 432,000 |
Deferred income tax benefit | (20,000) | (344,000) |
Net gain on sale of loans | (10,346,000) | (6,672,000) |
Net gain on sale of available-for-sale securities | (249,000) | (234,000) |
Net (gain) loss on sale of real estate owned and other repossessed assets | (6,000) | 13,000 |
Net loss on fair value hedge | 0 | 93,000 |
Net loss (gain) on sale/disposal of premises and equipment | 6,000 | (305,000) |
Net appreciation in cash surrender value of life insurance | (466,000) | (329,000) |
Net change in: | ||
Accrued interest and dividends receivable | 155,000 | 40,000 |
Loans held-for-sale | 10,741,000 | 5,696,000 |
Other assets | 552,000 | (1,603,000) |
Accrued expenses and other liabilities | 971,000 | 196,000 |
Net cash provided by operating activities | 12,893,000 | 4,884,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Sales | 23,649,000 | 31,301,000 |
Maturities, principal payments and calls | 9,882,000 | 12,515,000 |
Purchases | (18,859,000) | (28,872,000) |
Federal Home Loan Bank stock purchased | (615,000) | (1,429,000) |
Federal Reserve Bank stock redeemed (purchased) | 16,000 | (246,000) |
Loan origination and principal collection, net | (62,201,000) | (90,477,000) |
Proceeds from Bank owned life insurance | 885,000 | |
Purchases of Bank owned life insurance | (2,000,000) | (450,000) |
Proceeds from sale of real estate and other repossessed assets acquired in settlement of loans | 353,000 | 87,000 |
Proceeds from sale of premises and equipment | 7,000 | 1,438,000 |
Additions to premises and equipment | (2,247,000) | (630,000) |
Net cash used in investing activities | (51,130,000) | (76,763,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposits | 29,613,000 | 41,782,000 |
Net short-term advances (payments) from Federal Home Loan Bank and other borrowings | 15,313,000 | (1,723,000) |
Long-term advances from Federal Home Loan Bank and other borrowings | 5,000,000 | 33,000,000 |
Payments on long-term Federal Home Loan Bank and other borrowings | (10,616,000) | (13,554,000) |
Proceeds from issuance of subordinated debentures | 10,000,000 | |
Payments for debt issuance costs | (206,000) | |
Purchase of treasury stock, at cost | (1,320,000) | |
Dividends paid | (1,193,000) | (1,164,000) |
Net cash provided by financing activities | 38,117,000 | 66,815,000 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (120,000) | (5,064,000) |
CASH AND CASH EQUIVALENTS, beginning of period | 7,438,000 | 12,502,000 |
CASH AND CASH EQUIVALENTS, end of period | $ 7,318,000 | $ 7,438,000 |
Note 1 - Organization and Opera
Note 1 - Organization and Operations | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1: Organization and Operations On April 5, 2010, second 2,464,274 $10.00 $24,643,000. 3.80 The Company’s Employee Stock Ownership Plan (“ESOP”), which purchased shares in the offering, was authorized to purchase up to 8.00% 197,142 $1,971,000. In 2014, October 14, 2014. The Bank is headquartered in Helena, Montana, and operates additional branches in Butte, Bozeman, Billings, Big Timber, Livingston, Missoula, Hamilton and Townsend, Montana. It also operates a separate mortgage loan origination location in Missoula, Montana. The Bank opened a Loan Production Office in Great Falls, Montana in January 2015. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2: Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of Eagle Bancorp Montana Inc., the Bank, Eagle Bancorp Statutory Trust I and AFSB NMTC Investment Fund, LLC. All significant intercompany transactions and balances have been eliminated in consolidation. Consolidated Financial Statement Presentation and Use of Estimates The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In preparing consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statement of financial condition and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, mortgage servicing rights, the valuation of financial instruments, deferred tax assets and liabilities, and the valuation of foreclosed assets. In connection with the determination of the estimated losses on loans, foreclosed assets, valuation of mortgage servicing rights and valuation of the interest rate swap (terminated during the quarter ended March 31, 2015), The Company evaluated subsequent events for potential recognition and/or disclosure through the date the consolidated financial statements were issued. Significant Group Concentrations of Credit Risk Most of the Company’s business activity is with customers located within Montana. Note 4: 5: one The Company carries certain assets with other financial institutions which are subject to credit risk by the amount such assets exceed federal deposit insurance limits. At December 31, 2016 2015, no June 2015. Management monitors the financial stability of correspondent banks and considers amounts advanced in excess of FDIC insurance limits to present no significant additional risk to the Company. Cash and Cash Equivalents For the purpose of presentation in the consolidated statements of cash flows, cash and cash equivalents are defined as those amounts included in the balance sheet captions “cash and due from banks” and “interest bearing deposits in banks” all of which mature within ninety The Bank properly maintains amounts in excess of reserve balances as required by the FRB. The Bank had vault cash reserves in excess of the required reserve amount of $676,000 December 31, 2016. Investment Securities The Company can designate debt and equity securities as held-to-maturity, available-for-sale or trading. At December 31, 2016 2015 Held-to- M aturity Available-for- S ale may Declines in the fair value of individual held-to-maturity and available-for-sale securities below their cost that are other than temporary are recognized by write-downs of the individual securities to their fair value. Such write-downs would be included in earnings as realized losses. Trading Federal Home Loan Bank Stock The Company’s investment in FHLB stock is a restricted investment carried at cost ($100 40,121 33,969 December 31, 2016 2015, Federal Reserve Bank Stock The Company’s investment in FRB stock is a restricted investment carried at cost, which approximates its fair value. Although the par value of the stock is $100 $50 17,415 December 31, 2016 2015. 6.00% Mortgage Loans Held-for-Sale Mortgage loans originated and intended for sale in the secondary Loans The Bank grants mortgage, commercial and consumer loans to customers. A substantial portion of the loan portfolio is represented by mortgage loans in Montana. The ability of the Bank’s debtors to honor their contracts is dependent upon the general economic conditions in this area. Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding unpaid principal balances net of any unearned income, allowance for loan losses, and unamortized deferred fees or costs on originated loans and unamortized premiums or unaccreted discounts on purchased loans. Loan origination fees, net of certain direct origination costs are deferred and amortized over the contractual life of the loan, and recorded as an adjustment to the yield, using the interest method. Loan Origination/Risk Management – The Bank selectively extends credit for the purpose of establishing long-term relationships with its customers. The Bank mitigates the risks inherent in lending by focusing on businesses and individuals with demonstrated payment history, historically favorable profitability trends and stable cash flows. In addition to these primary sources of repayment, the Bank considers tangible collateral and personal guarantees as secondary may A reporting system supplements the loan review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and nonperforming and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions. The Bank regularly contracts for independent loan reviews that validate the credit risk program. Results of these reviews are presented to management. The loan review process compliments and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as, the Company’s policies and procedures. Residential Mortgages ( 1 4 ) – The Bank originates 1 4 may 1 4 80.00% secondary 30 secondary Commercial Real Estate Mortgages and Land Loans – The Bank makes commercial real estate loans and land loans (both developed and undeveloped) and loans on multi-family dwellings. Commercial real estate loans are collateralized by owner-occupied and non-owner-occupied real estate. Payments on loans secured by such properties are often dependent on the successful operation or management of the properties. Accordingly, repayment of these loans may Real Estate Construction – may may Home Equity Loans – may may first 1 4 85.00% Consumer Loans – Commercial and Industrial Loans – Non-Accrual and Past Due Loans – may may 90 may Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management's periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of specific, general and unallocated components. For such loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is based on historical loss experience adjusted for qualitative factors. An unallocated component is maintained to cover uncertainties that could affect management's estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all the circumstances surrounding the loan and the borrower, including the length of delay, the reasons for the delay, the borrower's prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan's effective interest rate, the loan's obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Troubled Debt Restructured Loans A troubled debt restructured loan is a loan in which the Bank grants a concession to the borrower that it would not otherwise consider, for reasons related to a borrower's financial difficulties. The loan terms which have been modified or restructured due to a borrower's financial difficulty, include but are not limited to a reduction in the stated interest rate; an extension of the maturity at an interest rate below current market rates; a reduction in the face amount of the debt; a reduction in the accrued interest; or re-aging, extensions, deferrals, renewals and rewrites or a combination of these modification methods. A troubled debt restructured loan would generally be considered impaired in the year of modification and will be assessed periodically for continued impairment. Mortgage Servicing Rights Servicing assets are recognized as separate assets when rights are acquired through purchase or through sale of financial assets. Generally, purchased servicing rights are capitalized at the cost to acquire the rights. For sales of mortgage loans, a portion of the cost of originating the loan is allocated to the servicing right based on relative fair value. Fair value is based on a market price valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that the fair value is less than the capitalized amount for the tranches. If the Company later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Cash Surrender Value of Life Insurance Life insurance policies are initially recorded at cost at the date of purchase. Subsequent to purchase, the policies are periodically adjusted for fair value. The adjustment to fair value increases or decreases the carrying value of the policies and is recorded as an income or expense on the consolidated statement of income. For the years ended December 31, 2016 2015, no Foreclosed Assets Assets acquired through, or in lieu of, loan foreclosure are initially recorded at fair value less estimated selling cost at the date of foreclosure. All write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, property held-for-sale is carried at fair value less cost to sell. Impairment losses on property to be held and used are measured as the amount by which the carrying amount of a property exceeds its fair value. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. Valuations are periodically performed by management, and any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the lower of its cost or fair value less cost to sell. Premises and Equipment Land is carried at cost. Property and equipment is recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the expected useful lives of the assets, ranging from 3 40 Income Taxes The Company adopted authoritative guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions. The Company’s income tax expense consists of the following components: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 50 The Company recognizes interest accrued on penalties related to unrecognized tax benefits in tax expense. During the years ended December 31, 2016 2015 no December 31, 2016 2015. 2013 2013 Treasury Stock Treasury stock is accounted for on the cost method and consists of 271,718 303,663 December 31, 2016 2015, On July 21, 2016, 100,000 may No 2016. July 21, 2017. On July 23, 2015, 100,000 three December 31, 2015, 15,000 $11.75 three September 30, 2015, 46,065 $11.47 July 23, 2016. On July 1, 2014, 200,000 55,800 $11.03 six June 30, 2015. 55,000 $10.66 six December 31, 2014. June 30, 2015. Advertising Costs The Company expenses advertising costs as they are incurred. Advertising costs were $696,000 $800,000 December 31, 2016 2015, Employee Stock Ownership Plan Compensation expense recognized for the Company’s ESOP equals the fair value of shares that have been allocated or committed to be released for allocation to participants. Any difference between the fair value of the shares at the time and the ESOP’s original acquisition cost is charged or credited to shareholders’ equity (capital surplus). The cost of ESOP shares that have not yet been allocated or committed to be released is deducted from shareholders’ equity. Earnings Per Share Earnings per common share is computed using the two 260, 260 two two 3: Derivatives Derivatives are recognized as assets and liabilities on the consolidated statement of financial condition and measured at fair value. For exchange-traded contracts, fair value is based on quoted market prices. For non-exchange traded contracts, fair value is based on dealer quotes, pricing models, discounted cash flow methodologies, or similar techniques for which the determination of fair value may Mortgage Loan Commitments – M ortgage loan commitments that relate to the origination of a mortgage that will be held-for-sale upon funding are considered derivative instruments. The Company enters into commitments to fund residential mortgage loans at specified times in the future, with the intention that these loans will subsequently be sold in the secondary Interest Rate Lock Commitments – Forward Delivery Commitments – The Company uses mandatory sell forward delivery commitments to sell whole loans. These commitments are used as a hedge against exposure to interest rate risks resulting from rate locked loan origination commitments on certain mortgage loans held-for-sale. Gains and losses on the items hedged are deferred and recognized in accumulated other comprehensive income until the commitments are completed. At the point of completion of the commitments the gains and losses are recognized in the Company’s income statement. Interest Rate Swap Agreements – For asset/liability management purposes, the Company may The gain or loss on a derivative designated and qualifying as a fair value hedging instrument, as well as the offsetting gain or loss on the hedged item attributable to the risk being hedged, is recognized currently in earnings in the same accounting period. The ineffective portion of the gain or loss on the derivative instrument, if any, is recognized currently in earnings. For fair value hedges, the net settlement (upon close-out or termination) that offsets changes in the value of the loans adjusts the basis of the loans and is deferred and amortized over the life of the loans. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) (2) (3) Business Combinations, Goodwill and Other Intangible Assets Authoritative guidance requires that all business combinations initiated after December 31, 2001, The goodwill recorded for the acquisition of the branches of Sterling Financial Corporation (“Sterling”) in 2012 $6,890,000 2013 $144,000 $7,034,000. June 30. 7 Recent Accounting Pronouncements In May 2014, 2014 9, 606). may July 9, 2015, one first 2018 In January 2016, 2016 01 December 15, 2017 In February 2016, 2016 2, 842) 12 December 15, 2018, In June 2016, 2016 13, 326) December 15, 2019, may December 15, 2018, first |
Note 3 - Earnings Per Share
Note 3 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3: Earnings Per Share The computations of basic and diluted earnings per share were as follows: Years Ended December 31, 2016 2015 (Dollars in Thousands, Except for Per Share Data) Weighted average shares outstanding during the period in which basic earnings per share is calculated 3,784,788 3,813,090 Dilutive effect of stock compensation 88,801 46,535 Average outstanding shares on which diluted earnings per share is calculated 3,873,589 3,859,625 Net income applicable to common stockholders $ 5,132 $ 2,580 Basic earnings per share $ 1.36 $ 0.68 Diluted earnings per share $ 1.32 $ 0.67 |
Note 4 - Investment Securities
Note 4 - Investment Securities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4: Investment Securities The Company’s investment policy requires that the Company purchase only high-grade investment securities. Most municipal obligations are categorized as “A” or better by a nationally recognized statistical rating organization. These ratings are achieved because the securities are backed by the full faith and credit of the municipality and also supported by third Mortgage-backed securities (“MBSs”) and collateralized mortgage obligations (“CMOs”) are issued by government sponsored corporations, including Federal Home Loan Mortgage Corporation, Fannie Mae and the Guaranteed National Mortgage Association. The amortized cost and fair values of securities, together with unrealized gains and losses, were as follows: December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Available-for-sale: U.S. government and agency $ 5,673 $ 7 $ (72 ) $ 5,608 Municipal obligations 68,493 575 (1,404 ) 67,664 Corporate obligations 9,454 15 (162 ) 9,307 MBSs - government-backed 29,537 283 (308 ) 29,512 CMOs - government-backed 16,530 15 (200 ) 16,345 Total $ 129,687 $ 895 $ (2,146 ) $ 128,436 December 31, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Available-for-sale: U.S. government and agency $ 10,684 $ 26 $ (95 ) $ 10,615 Municipal obligations 66,606 1,041 (578 ) 67,069 Corporate obligations 9,615 - (165 ) 9,450 MBSs - government-backed 32,810 111 (186 ) 32,735 CMOs - government-backed 26,233 40 (404 ) 25,869 Total $ 145,948 $ 1,218 $ (1,428 ) $ 145,738 The Company has not entered into any interest rate swaps, options or futures contracts relating to investment securities. Years Ended December 31, 2016 2015 (In Thousands) Proceeds from sale of available-for-sale securities $ 23,649 $ 31,301 Gross realized gain on sale of available-for-sale securities $ 272 $ 534 Gross realized loss on sale of available-for-sale securities (23 ) (300 ) Net realized gain on sale of available-for-sale securities $ 249 $ 234 The amortized cost and fair value of securities at December 31, 2016 may Amortized Fair Cost Value (In Thousands) Due in one year or less $ 1,042 $ 1,040 Due from one to five years 8,116 8,058 Due from five to ten years 15,223 15,038 Due after ten years 59,239 58,443 83,620 82,579 MBSs - government-backed 29,537 29,512 CMOs - government-backed 16,530 16,345 Total $ 129,687 $ 128,436 Maturities of securities do not reflect repricing opportunities present in adjustable rate securities. At December 31, 2016 2015, $18,626,001 $11,389,000, The Company’s investment securities that have been in a continuous unrealized loss position for less than 12 12 December 31, 2016 Less than 12 Months 12 Months or Longer Gross Gross Fair Unrealized Fair Unrealized Value Losses Value Losses (In Thousands) U.S. government and agency $ 4,420 $ (72 ) $ - $ - Municipal obligations 39,786 (1,392 ) 634 (12 ) Corporate obligations 3,375 (15 ) 4,918 (147 ) MBSs and CMOs - government-backed 18,113 (405 ) 7,855 (103 ) Total $ 65,694 $ (1,884 ) $ 13,407 $ (262 ) December 31, 2015 Less than 12 months 12 months or Longer Gross Gross Fair Unrealized Fair Unrealized Value Losses Value Losses (In Thousands) U.S. government and agency $ 3,173 $ (24 ) $ 5,986 $ (71 ) Municipal obligations 15,913 (132 ) 21,163 (446 ) Corporate obligations 5,283 (80 ) 3,915 (85 ) MBSs and CMOs - government-backed 23,164 (249 ) 13,886 (341 ) Total $ 47,533 $ (485 ) $ 44,950 $ (943 ) 97 85 December 31, 2016 2015, Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) (2) (3) At December 31, 2016, 70 3.19% December 31, 2015, 52 1.43% At December 31, 2016, 13 1.92% December 31, 2015, 13 1.76% one At December 31, 2016, 14 1.92% December 31, 2015, 20 1.57% December 31, 2016 |
Note 5 - Loans
Note 5 - Loans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 : Loans Loans receivable consisted of the following: December 31, 2016 2015 (In Thousands) First mortgage loans: Residential mortgage (1-4 family) $ 113,262 $ 118,133 Commercial real estate 214,927 167,930 Real estate construction 20,540 22,958 Other loans: Home equity 49,018 45,345 Consumer 14,800 14,641 Commercial 54,706 39,072 Total 467,253 408,079 Allowance for loan losses (4,770 ) (3,550 ) Deferred loan fees, net (1,092 ) (795 ) Total loans, net $ 461,391 $ 403,734 Within the commercial real estate loan category above, $11,586,000 $12,117,000 December 31, 2016 2015, $1,588,000 $1,917,000 December 31, 2016 2015, The following table includes information regarding nonperforming assets. December 31, 2016 2015 (Dollars in Thousands) Non-accrual loans $ 614 $ 2,030 Accruing loans delinquent 90 days or more 495 472 Restructured loans, net 43 46 Total nonperforming loans 1,152 2,548 Real estate owned and other repossessed assets, net 825 595 Total nonperforming assets $ 1,977 $ 3,143 Total nonperforming assets as a percentage of total assets 0.29 % 0.50 % Allowance for loan losses $ 4,770 $ 3,550 Percent of allowance for loan losses to nonperforming loans 414.06 % 139.32 % Percent of allowance for loan losses to nonperforming assets 241.27 % 112.95 % Allowance for loan losses activity was as follows: Residential Mortgage (1-4 Family) Commercial Real Estate Real Estate Construction Home Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, January 1, 2016 $ 911 $ 1,593 $ 184 $ 342 $ 66 $ 454 $ 3,550 Charge-offs (4 ) (298 ) - (7 ) (204 ) (119 ) (632 ) Recoveries - - - - 19 - 19 Provision 90 784 60 125 312 462 1,833 Ending balance, December 31, 2016 $ 997 $ 2,079 $ 244 $ 460 $ 193 $ 797 $ 4,770 Ending balance, December 31, 2016 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ 8 $ - $ 8 Ending balance, December 31, 2016 allocated to loans collectively evaluated for impairment $ 997 $ 2,079 $ 244 $ 460 $ 185 $ 797 $ 4,762 Loans receivable: Ending balance, December 31, 2016 $ 113,262 $ 214,927 $ 20,540 $ 49,018 $ 14,800 $ 54,706 $ 467,253 Ending balance, December 31, 2016 of loans individually evaluated for impairment $ 221 $ - $ - $ 340 $ 96 $ - $ 657 Ending balance, December 31, 2016 of loans collectively evaluated for impairment $ 113,041 $ 214,927 $ 20,540 $ 48,678 $ 14,704 $ 54,706 $ 466,596 Residential Mortgage (1-4 Family) Commercial Real Estate Real Estate Construction Home Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, January 1, 2015 $ 684 $ 1,098 $ 35 $ 270 $ 46 $ 317 $ 2,450 Charge-offs (137 ) - - - (61 ) (25 ) (223 ) Recoveries - - - 1 18 1 20 Provision 364 495 149 71 63 161 1,303 Ending balance, December 31, 2015 $ 911 $ 1,593 $ 184 $ 342 $ 66 $ 454 $ 3,550 Ending balance, December 31, 2015 allocated to loans individually evaluated for impairment $ - $ - $ - $ 7 $ 11 $ 30 $ 48 Ending balance, December 31, 2015 allocated to loans collectively evaluated for impairment $ 911 $ 1,593 $ 184 $ 335 $ 55 $ 424 $ 3,502 Loans receivable: Ending balance, December 31, 2015 $ 118,133 $ 167,930 $ 22,958 $ 45,345 $ 14,641 $ 39,072 $ 408,079 Ending balance, December 31, 2015 of loans individually evaluated for impairment $ 730 $ 667 $ - $ 207 $ 145 $ 327 $ 2,076 Ending balance, December 31, 2015 of loans collectively evaluated for impairment $ 117,403 $ 167,263 $ 22,958 $ 45,138 $ 14,496 $ 38,745 $ 406,003 Internal classification of the loan portfolio was as follows: December 31, 2016 Residential Mortgage (1-4 Family) Commercial Real Estate Real Estate Construction Home Equity Consumer Commercial Total (In Thousands) Grade: Pass $ 112,524 $ 214,476 $ 20,084 $ 48,643 $ 14,697 $ 54,470 $ 464,894 Special mention - - 456 - - - 456 Substandard 738 451 - 375 95 236 1,895 Doubtful - - - - - - - Loss - - - - 8 - 8 Total $ 113,262 $ 214,927 $ 20,540 $ 49,018 $ 14,800 $ 54,706 $ 467,253 Credit risk profile based on payment activity Performing $ 112,585 $ 214,923 $ 20,540 $ 48,643 $ 14,704 $ 54,706 $ 466,101 Restructured loans - - - 43 - - 43 Nonperforming 677 4 - 332 96 - 1,109 Total $ 113,262 $ 214,927 $ 20,540 $ 49,018 $ 14,800 $ 54,706 $ 467,253 December 31, 2015 Residential Mortgage (1-4 Family) Commercial Real Estate Real Estate Construction Home Equity Consumer Commercial Total (In Thousands) Grade: Pass $ 116,711 $ 167,263 $ 22,176 $ 45,100 $ 14,486 $ 38,675 $ 404,411 Special mention - - - - - - - Substandard 1,422 667 782 156 140 367 3,534 Doubtful - - - 82 4 - 86 Loss - - - 7 11 30 48 Total $ 118,133 $ 167,930 $ 22,958 $ 45,345 $ 14,641 $ 39,072 $ 408,079 Credit risk profile based on payment activity Performing $ 117,182 $ 167,259 $ 22,711 $ 45,138 $ 14,496 $ 38,745 $ 405,531 Restructured loans - - - 46 - - 46 Nonperforming 951 671 247 161 145 327 2,502 Total $ 118,133 $ 167,930 $ 22,958 $ 45,345 $ 14,641 $ 39,072 $ 408,079 The Company utilizes an 8 Loans R ated Pass 1 5 Loans R ated Special Mention 6 may Loans R ated Substandard 7 Loans R ated Doubtful 8 Loans R ated Loss 8 may On an annual basis, or more often if needed, the Company formally reviews the ratings of all commercial real estate, real estate construction and commercial business loans that have a principal balance of $750,000 90 60 third The following tables include information regarding impaired loans. December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment (In Thousands) With no related allowance: Residential mortgage (1-4 family) $ 221 $ 221 $ - $ 476 Commercial real estate - - - 334 Real estate construction - - - - Home equity 340 390 - 270 Consumer 88 135 - 111 Commercial - - - 148 With a related allowance: Residential mortgage (1-4 family) - - - - Commercial real estate - - - - Real estate construction - - - - Home equity - - - 3 Consumer 8 8 8 10 Commercial - - - 15 Total: Residential mortgage (1-4 family) 221 221 - 476 Commercial real estate - - - 334 Real estate construction - - - - Home equity 340 390 - 273 Consumer 96 143 8 121 Commercial - - - 163 Total $ 657 $ 754 $ 8 $ 1,367 December 31, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment (In Thousands) With no related allowance: Residential mortgage (1-4 family) $ 730 $ 730 $ - $ 690 Commercial real estate 667 667 - 334 Real estate construction - - - - Home equity 200 234 - 264 Consumer 134 134 - 91 Commercial 297 297 - 263 With a related allowance: Residential mortgage (1-4 family) - - - 411 Commercial real estate - - - - Real estate construction - - - - Home equity 7 7 7 3 Consumer 11 11 11 9 Commercial 30 30 30 15 Total: Residential mortgage (1-4 family) 730 730 - 1,101 Commercial real estate 667 667 - 334 Real estate construction - - - - Home equity 207 241 7 267 Consumer 145 145 11 100 Commercial 327 327 30 278 Total $ 2,076 $ 2,110 $ 48 $ 2,080 Interest income recognized on impaired loans for the years ended December 31, 2016 2015 The following tables include information regarding delinquencies within the loan portfolio. December 31, 2016 30-89 Days Past Due 90 Days and Greater Total Past Due Current Total Loans Recorded Investment >90 Days and Still Accruing (In Thousands) Residential mortgage (1-4 family) $ 975 $ 677 $ 1,652 $ 111,610 $ 113,262 $ 456 Commercial real estate 513 4 517 214,410 214,927 4 Real estate construction - - - 20,540 20,540 - Home equity 365 332 697 48,321 49,018 35 Consumer 169 96 265 14,535 14,800 - Commercial 249 - 249 54,457 54,706 - Total $ 2,271 $ 1,109 $ 3,380 $ 463,873 $ 467,253 $ 495 December 31, 2015 30-89 Days Past Due 90 Days and Greater Total Past Due Current Total Loans Recorded Investment >90 Days and Still Accruing (In Thousands) Residential mortgage (1-4 family) $ 1,163 $ 951 $ 2,114 $ 116,019 $ 118,133 $ 221 Commercial real estate 177 671 848 167,082 167,930 4 Real estate construction 662 247 909 22,049 22,958 247 Home equity 319 161 480 44,865 45,345 - Consumer 184 145 329 14,312 14,641 - Commercial 173 327 500 38,572 39,072 - Total $ 2,678 $ 2,502 $ 5,180 $ 402,899 $ 408,079 $ 472 Interest income not accrued on these loans and cash interest income was immaterial for the years ended December 31, 2016 2015. December 31, 2016 2015 $8,000 $48,000, $657,000 $8,000 $649,000. $2,076,000 $48,000 $2,028,000. Loans are granted to directors and officers of the Company in the ordinary course of business. Such loans are made in accordance with policies established for all loans of the Company, except that directors, officers and employees may Loans receivable (including loans sold and serviced for others) from directors and senior officers and their related parties were as follows: (In Thousands) Balance at January 1, 2015 $ 7,435 Principal additions 1,073 Principal payments (6,132 ) Balance at December 31, 2015 $ 2,376 Principal additions 726 Principal payments (688 ) Balance at December 31, 2016 $ 2,414 Principal payments for 2015 $5,849,000 19: December 31, 2016 2015 (In Thousands) Loans serviced, for the benefit of others, for directors, senior officers and their related parties $ 1,327 $ 1,220 Years Ended December 31, 2016 2015 (In Thousands) Interest income from loans owned for directors, senior officers and their related parties $ 45 $ 14 |
Note 6 - Troubled Debt Restruct
Note 6 - Troubled Debt Restructurings | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Troubled Debt Restructurings [Text Block] | NOTE 6: Troubled Debt Restructurings The Company adopted the amendments in Accounting Standards Update No. 2011 02 310) September 30, 2011. (July 1, 2011) 450 20). 310 10 35. As of December 31, 2016, 310 10 35 $43,000 310 40 65 1(b)), 310 40 65 1(b)). $34,000 The Company offers a variety of modifications to borrowers. The modification categories offered can generally be described in the following categories: Rate Modification Term Modification Interest Only Modification Payment Modification Combination Modification The following tables present troubled debt restructurings. December 31, 2016 Accrual Non-Accrual Total Status Status Modification (In Thousands) Residential mortgage (1-4 family) $ - $ - $ - Commercial real estate - - - Real estate construction - - - Home equity 43 - 43 Consumer - - - Commercial - - - Total $ 43 $ - $ 43 December 31, 2015 Accrual Non-Accrual Total Status Status Modification (In Thousands) Residential mortgage (1-4 family) $ - $ - $ - Commercial real estate - - - Real estate construction - - - Home equity 46 - 46 Consumer - - - Commercial - - - Total $ 46 $ - $ 46 During the year ended December 31, 2016, There were no 12 December 31, 2016. 90 As of December 31, 2016 2015, no |
Note 7 - Foreclosed Assets
Note 7 - Foreclosed Assets | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | NOTE 7: Foreclosed Assets Foreclosed assets are presented net of an allowance for losses. A summary of the balance of foreclosed assets is presented below: December 31, 2016 2015 (In Thousands) Residential mortgage (1-4 family) $ 202 $ - Commercial real estate 603 595 Consumer 20 - Total foreclosed assets $ 825 $ 595 Expenses applicable to foreclosed assets included the following: Years Ended December 31, 2016 2015 (In Thousands) Net gain (loss) on sale $ 6 $ (13 ) Operating expenses net of rental income (33 ) (23 ) Expenses related to foreclosed assets, net $ (27 ) $ (36 ) |
Note 8 - Mortgage Servicing Rig
Note 8 - Mortgage Servicing Rights | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Transfers and Servicing of Financial Assets [Text Block] | NOTE 8 : Mortg age Servicing Rights The Company is servicing loans for the benefit of others totaling approximately $808,898,000 $693,343,000 December 31, 2016 2015, Custodial escrow balances maintained in connection with the foregoing loan servicing, and included in demand deposits, were approximately $4,775,000 $4,171,000 December 31, 2016 2015, The following table is a summary of activity in mortgage servicing rights and the valuation allowance. Years Ended December 31, 2016 2015 (In Thousands) Mortgage servicing rights: Beginning balance $ 4,968 $ 4,115 Mortgage servicing rights capitalized 2,134 1,652 Amortization of mortgage servicing rights (1,249 ) (799 ) Ending balance 5,853 4,968 Valuation allowance: Beginning balance - - Provision (credited) to operations - - Ending balance - - Mortgage servicing rights, net $ 5,853 $ 4,968 The fair values of these rights were $6,741,000 $6,452,000 December 31, 2016 2015, 13.00% 15.00%, 104.00% 277.00% 1.00% 1.25% |
Note 9 - Premises and Equipment
Note 9 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 9 : Premises and Equipment The cost and accumulated depreciation of premises and equipment was as follows: December 31, 2016 2015 (In Thousands) Land $ 4,086 $ 3,803 Buildings and improvements 20,832 19,055 Furniture and equipment 6,300 6,035 Construction in progress 111 230 31,329 29,123 Accumulated depreciation (11,936 ) (10,906 ) Premises and equipment, net $ 19,393 $ 18,217 Depreciation expense was $1,058,000 $1,231,000 December 31, 2016 2015, |
Note 10 - Goodwill and Other In
Note 10 - Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 10 : Goodwill and Other Intangible Assets Goodwill and other intangible assets were recorded as part of the Sterling acquisition. The carrying amount of goodwill was as follows: December 31, 2016 2015 (In Thousands) Goodwill $ 7,034 $ 7,034 The components of other intangible assets were as follows: December 31, 2016 2015 (In Thousands) Core deposit intangible $ 1,031 $ 1,031 Accumulated amortization (647 ) (517 ) Core deposit intangible, net $ 384 $ 514 Core deposit intangible assets are amortized on an accelerated basis over their estimated life of 10 $130,000 $149,000 December 31, 2016 2015. December 31, 2016 Years ended December 31: (In Thousands) 2017 $ 111 2018 92 2019 73 2020 55 2021 36 Thereafter 17 Total $ 384 |
Note 11 - Deposits
Note 11 - Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 11 : Deposits Deposits are summarized as follows: December 31, 2016 2015 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in Thousands) Noninterest checking $ 82,877 0.00 % $ 77,031 0.00 % Interest bearing checking 93,163 0.03 % 87,350 0.03 % Savings 82,266 0.04 % 71,474 0.04 % Money market 89,211 0.11 % 94,880 0.12 % Time certificates of deposits 165,278 0.84 % 152,447 0.92 % Total $ 512,795 0.30 % $ 483,182 0.32 % Time certificates of deposit include $15,596,000 $7,071,000 December 31, 2016 2015, At December 31, 2016 $111,049,000 $250,000 Time certificates of deposits with balances of $250,000 $45,363,000 $24,443,000 December 31, 2016 2015, At December 31, 2016, (In Thousands) Within one year $ 116,561 One to two years 32,039 Two to three years 8,182 Three to four years 4,546 Thereafter 3,950 Total $ 165,278 Interest expense on deposits was as follows: Years Ended December 31, 2016 2015 (In Thousands) Checking $ 27 $ 27 Savings 30 30 Money market 101 107 Time certificates of deposits 1,360 1,293 Total $ 1,518 $ 1,457 At December 31, 2016 2015, $51,000 $75,000, Directors’ and senior officers’ deposit accounts at December 31, 2016 2015 $1,390,000 $983,000, |
Note 12 - Advances From the Fed
Note 12 - Advances From the Federal Home Loan Bank and Other Borrowings | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | NOTE 12 : Advances from the Federal Home Loan Bank and Other Borrowings At December 31, 2016, (In Thousands) Within one year $ 55,406 One to two years 12,767 Two to three years 10,649 Three to four years 3,446 Four to five years 145 Thereafter - Total $ 82,413 Federal Home Loan Bank Advances The FHLB advances include both fixed and amortizing advances. The fixed advances are due at maturity. The advances are subject to prepayment penalties. The interest rates on these advances are fixed. The advances are collateralized by a blanket pledge of the Bank’s loan portfolio. At December 31, 2016 2015, December 31, 2016, 35.00% $234,217,000. $81,548,000 $68,261,000 December 31, 2016 2015, Other Borrowings The Bank had no structured repurchase agreements with PNC Financial Service Group, Inc. (“PNC”) at December 31, 2016 2015. At December 31, 2016 2015, $865,000 1.00% 2019. Federal Funds Purchased The Bank has a $7,000,000 $0 December 31, 2016 2015. The Bank has a $10,000,000 $0 December 31, 2016 2015, The Bank has a $7,000,000 $0 $3,590,000 December 31, 2016 2015, During 2016, $10,000,000 $0 December 31, 2016. Federal Reserve Bank Discount Window For additional liquidity sources, the Bank has a credit facility at the Federal Reserve Bank’s Discount Window. The amount available to the Bank is limited by various collateral requirements. There were no December 31, 2016 2015. $0 December 31, 2016 2015. All Borrowings Outstanding For all borrowings outstanding the weighted average interest rate for advances at December 31, 2016 2015 1.10% 1.05%, $78,894,000 $51,367,000 2016 2015, The maximum amount outstanding at any month-end was $92,436,000 $72,716,000 2016 2015, |
Note 13 - Subordinated Debentur
Note 13 - Subordinated Debentures | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | NOTE 13 : Subordinated Debentures Subordinated debentures consisted of the following: December 31, 2016 2015 Unamortized Unamortized Debt Debt Principal Issuance Principal Issuance Amount Costs Amount Costs (In Thousands) Subordinated debentures: Variable at 3-Month Libor plus 1.42%, due 2035 $ 5,155 $ - $ 5,155 $ - Fixed at 6.75%, due 2025 10,000 (185 ) 10,000 (206 ) Total $ 15,155 $ (185 ) $ 15,155 $ (206 ) In June 2015, $10,000,000 2025 6.75% 2 In September 2005, $5,155,000 $5,155,000. December 15, 2005. 6.02% December 2010 3 1.42%, 2.418% 2.033% December 31, 2016 2015, may five December 2035 1 For 2016 2015, $785,000 $448,000, |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 1 4: Commitments and Contingencies Various legal claims also arise from time to time in the normal course of business which, in the opinion of management, will have no material effect on the Company’s financial statements. The Company leases certain office branches under short-term operating leases. Some of these leases have renewal options. Total lease expenditures were $473,000 $559,000 December 31, 2016 2015, Years ended December 31: (In Thousands) 2017 $ 427 2018 393 2019 375 2020 332 2021 242 Thereafter 93 Total $ 1,862 |
Note 15 - Accumulated Other Com
Note 15 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 1 5 : Accumulated Other Comprehensive Income (Loss) The following table includes information regarding the activity in accumulated other comprehensive income (loss): Unrealized Gains (Losses) on Derivatives Designated as Cash Flow Hedges Unrealized (Losses) Gains on Investment Securities Available for Sale Total (In Thousands) Balance, January 1, 2015 $ 294 $ (509 ) $ (215 ) Other comprehensive income, before reclassifications and income taxes 2,046 883 2,929 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (1,907 ) (234 ) (2,141 ) Income tax expense (57 ) (264 ) (321 ) Total other comprehensive income 82 385 467 Balance, December 31, 2015 $ 376 $ (124 ) $ 252 Other comprehensive income (loss), before reclassifications and income taxes 2,861 (792 ) 2,069 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (2,938 ) (249 ) (3,187 ) Income tax benefit 31 424 455 Total other comprehensive loss (46 ) (617 ) (663 ) Balance, December 31, 2016 $ 330 $ (741 ) $ (411 ) |
Note 16 - Income Taxes
Note 16 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 16: Income Taxes The components of the Company’s income tax provision (benefit) were as follows: Years Ended December 31, 2016 2015 (In Thousands) Current U.S. federal $ 1,369 $ 424 Montana 450 83 1,819 507 Deferred U.S. federal (13 ) (426 ) Montana (7 ) 82 (20 ) (344 ) Total $ 1,799 $ 163 The nature and components of deferred tax assets and liabilities were as follows: December 31, 2016 2015 (In Thousands) Deferred tax assets: Loans receivable $ 1,805 $ 1,204 Deferred loan fees 500 381 Deferred compensation 786 698 Employee benefits 419 321 Unrealized losses on securities available-for-sale 510 86 Acquisition costs 580 633 New Market Tax Credits carry forward 624 633 Alternative Minimum Tax carry forward 466 445 Other 245 267 Total deferred tax assets 5,935 4,668 Deferred tax liabilities: Premises and equipment 821 931 Federal Home Loan Bank stock 551 529 Mortgage servicing rights 1,230 595 Unrealized gains on hedging 228 259 Goodwill 776 585 Other 364 279 Total deferred tax liabilities 3,970 3,178 Net deferred tax asset $ 1,965 $ 1,490 The Company believes, based upon the available evidence, that all deferred tax assets will be realized in the normal course of operations. Accordingly, these assets have not been reduced by a valuation allowance. A reconciliation of the Company’s effective income tax provision (benefit) to the statutory federal income tax rate was as follows: Years Ended December 31, 2016 2015 % of % of Pretax Pretax Amount Income Amount Income (Dollars in Thousands) Federal income taxes at the statutory rate $ 2,357 34.00 % $ 933 34.00 % State income taxes 468 6.75 % 185 6.75 % Tax-exempt interest income (458 ) -6.61 % (440 ) -16.03 % Income from bank-owned life insurance (235 ) -3.39 % (174 ) -6.33 % New Market Tax Credits (456 ) -6.58 % (418 ) -15.24 % Other, net 123 1.79 % 77 2.79 % Actual tax benefit and effective tax rate $ 1,799 25.96 % $ 163 5.94 % The Company has equity investments in Certified Development Entities which have received allocations of New Markets Tax Credits. Administered by the Community Development Financial Institutions Fund of the U.S. Department of the Treasury, the program is aimed at stimulating economic and community development and job creation in low-income communities. The federal income tax credits received are expected to be $2,964,000 seven $1,824,000 December 31, 2016. $1,200,000 December 31, 2016. $624,000 |
Note 17 - Supplemental Cash Flo
Note 17 - Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | NOTE 17: Supplemental Cash Flow Information Years Ended December 31, 2016 2015 (In Thousands) Supplemental cash flow information: Cash paid during the year for interest $ 3,129 $ 2,442 Cash paid during the year for income taxes 1,640 845 Non-cash investing and financing activities: (Decrease) increase in market value of securities available-for-sale (1,041 ) 649 Mortgage servicing rights recognized 2,134 1,652 Loans transferred to real estate and other assets acquired in foreclosure 577 58 Treasury shares reissued for compensation 350 193 Employee Stock Ownership Plan shares released 230 185 |
Note 18 - Regulatory Capital Re
Note 18 - Regulatory Capital Requirements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 18: Regulatory Capital Requirements The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classifications 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. Beginning January 1, 2015, January 1, 2015 December 31, 2019. Management believes that, as of December 31, 2016, Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 1 December 31, 2016 2015, As of December 31, 2016, 1 1 December 31, 2016 Actual Minimum Capital Requirement Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) December 31, 2016: Total risk-based capital to risk weighted assets Consolidated $ 72,145 15.36 % $ 37,566 8.00 % $ N/A N/A % Bank 65,630 14.05 37,379 8.00 46,723 10.00 Tier I capital to risk weighted assets Consolidated 57,375 12.22 28,174 6.00 N/A N/A Bank 60,860 13.03 28,034 6.00 37,379 8.00 Common equity tier I capital to risk weighted assets Consolidated 52,724 11.23 21,131 4.50 N/A N/A Bank 60,860 13.03 21,025 4.50 30,370 6.50 Tier 1 capital to adjusted total average assets Consolidated 57,375 8.60 26,683 4.00 N/A N/A Bank 60,860 9.23 26,364 4.00 32,954 5.00 The Bank’s actual capital amounts and ratios as of December 31, 2015 Minimum To Be Well Minimum Capitalized Under Capital Prompt Corrective Actual Requirement Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) December 31, 2015: Total risk-based capital to risk weighted assets Consolidated $ 66,725 15.39 % $ 34,685 8.00 % $ N/A N/A % Bank 60,957 14.09 34,607 8.00 43,259 10.00 Tier I capital to risk weighted assets Consolidated 53,175 12.26 26,014 6.00 N/A N/A Bank 57,407 13.27 25,955 6.00 34,607 8.00 Common equity tier I capital to risk weighted assets Consolidated 48,112 11.10 19,511 4.50 N/A N/A Bank 57,407 13.27 19,466 4.50 28,118 6.50 Tier 1 capital to adjusted total average assets Consolidated 53,175 9.22 23,063 4.00 N/A N/A Bank 57,407 9.36 24,530 4.00 30,662 5.00 A reconciliation of the Bank’s capital determined by GAAP to capital defined for regulatory purposes is as follows: December 31, 2016 2015 (In Thousands) Capital determined by GAAP $ 67,610 $ 64,726 Unrealized loss on securities available-for-sale 724 142 Unrealized gain on forward delivery commitments (330 ) (376 ) Goodwill and core deposit intangibles, net of associated deferred tax liabilities (6,490 ) (6,654 ) Disallowed deferred tax assets (654 ) (431 ) Tier I capital 60,860 57,407 Allowance for loan losses 4,770 3,550 Total risk-based capital $ 65,630 $ 60,957 Dividend Limitations Under State of Montana banking regulation, member banks such as the Bank generally may two $2,400,000 $1,240,000 December 31, 2016 2015, $0.0775 first two 2016 $0.08 two 2016. $0.075 first two 2015 $0.0775 two 2015. Liquidation Rights Eagle Bancorp Montana, Inc. holds a liquidation account for the benefit of certain depositors of the Bank who remain depositors of the Bank at the time of liquidation. The liquidation account is designed to provide payments to these depositors of their liquidation interests in the event of a liquidation of Eagle and the Bank, or the Bank alone. In the unlikely event that Eagle and the Bank were to liquidate in the future, all claims of creditors, including those of depositors, would be paid first, November 30, 2008 After two |
Note 19 - Related Party Transac
Note 19 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 19: Related Party Transactions In the normal course of lending, the Bank provided a commercial line of credit to an affiliated entity that is partially owned by a one $0 December 31, 2016 2015. In addition, the Bank has contracted with a subsidiary of another company which was previously partially owned by one 2013. 2007, 2008, $7,500,000 2008, 80.00%, $6,000,000 December 31, 2014 $5,849,000 ($1,170,000 5: |
Note 20 - Employee Benefits
Note 20 - Employee Benefits | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 20: Employee Benefits Profit Sharing Plan The Company provides a noncontributory profit sharing plan for eligible employees who have completed one 15.00% $451,000 $452,000 December 31, 2016 2015, The Company’s profit sharing plan includes a 401(k) may 50.00% 4.00% December 31, 2016 2015, $203,000 $162,000, Deferred Compensation Plans The Company has entered into deferred compensation contracts with current key employees. The contracts provide fixed benefits payable in equal annual installments upon retirement. The Company purchased life insurance contracts that may December 31, 2016 2015, $361,000 $293,000, $1,682,000 $1,423,000 December 31, 2016 2015, Employee Stock Ownership Plan The Company has established an ESOP for eligible employees who meet certain age and service requirements. At inception, in April 2000, $368,000 46,006 $8 December 31, 2009. April 2010, $1,971,420 197,142 $10 twelve 8.00%. Shares purchased by the ESOP are held in a suspense account by the plan trustee until allocated to participant accounts. Shares released from the suspense account are allocated to participants on the basis of their relative compensation in the year of allocation. Participants become vested in the allocated shares over a period not to exceed seven Total ESOP expenses of $189,000 $168,000 December 31, 2016 2015, 16,616 December 31, 2016 2015. 80,828 ($809,000 December 31, 2016) $1,705,000 December 31, 2016. Stock Incentive Plan The Company adopted the stock incentive plan on November 1, 2011 98,571. 98,571 November 2011. December 31, 2015 98,571 168,571. five one The following table shows the activity of the awards granted: Number of Shares Unvested awards as of January 1, 2015 37,256 Awards granted 74,000 Awards vested (17,548 ) Awards forfeited - Unvested awards as of December 31, 2015 93,708 Awards granted 2,900 Awards vested (31,945 ) Awards forfeited (395 ) Unvested awards as of December 31, 2016 64,268 $478,000 $232,000 December 31, 2016 2015, December 31, 2016, 64,268 $1,166,000 November 2021. |
Note 21 - Financial Instruments
Note 21 - Financial Instruments and Off-balance Sheet Activities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Financial Instruments and Off-balance Sheet Activities, Disclosure [Text Block] | NOTE 21: Financial Instruments and Off-Balance-Sheet Activities All financial instruments held or issued by the Company are held or issued for purposes other than trading. In the ordinary course of business, the Bank enters into off-balance-sheet financial instruments consisting of commitments to extend credit and forward delivery commitments for the sale of whole loans to the secondary In response to marketplace demands, the Bank routinely makes commitments to extend credit for fixed rate and variable rate loans with or without rate lock guarantees. When rate lock guarantees are made to customers, the Bank becomes subject to market risk for changes in interest rates that occur between the rate lock date and the date that a firm commitment to purchase the loan is made by a secondary Generally, as interest rates increase, the market value of the loan commitment goes down. The opposite effect takes place when interest rates decline. Commitments to extend credit are agreements to lend to a customer as long as the borrower satisfies the Bank’s underwriting standards and related provisions of the borrowing agreements. Commitments generally have fixed expiration dates or other termination clauses and may 3 12 The Bank has remaining available balances for lines of credit representing credit risk of approximately $86,259,000 $78,554,000 December 31, 2016 2015, $1,239,000 December 31, 2015, $96,000 December 31, 2015. December 31, 2016, no $3,165,000 $3,124,000 December 31, 2016 2015, Mortgage loan commitments are referred to as derivative loan commitments if the loan that will result from exercise of the commitment will be held-for-sale upon funding. The Bank enters into commitments to fund residential mortgage loans at specified times in the future, with the intention that these loans will subsequently be sold in the secondary 60 Outstanding derivative loan commitments expose the Bank to the risk that the price of the loans arising from exercise of the loan commitment might decline from inception of the rate lock to funding of the loan due to increases in mortgage interest rates. If interest rates increase, the value of these loan commitments decreases. Conversely, if interest rates decrease, the value of these loan commitments increases. The notional amount of interest rate lock commitments was $19,738,000 $24,378,000 December 31, 2016 2015, 2.88% 5.00% 2.88% 5.13%at December 31, 2016 2015, The Company has no other off-balance-sheet arrangements or transactions with unconsolidated, special purpose entities that would expose the Company to liability that is not reflected on the face of the financial statements. |
Note 22 - Derivatives and Hedgi
Note 22 - Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 22: Derivatives and Hedging Activities Interest Rate Swap Agreements The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is interest rate risk. The Company entered into an interest rate swap agreement on August 27, 2010 third 815 10) The Company was exposed to credit-related losses in the event of nonperformance by the counterparties to this agreement. The Company controlled the credit risk of its financial contracts through credit approvals, limits and monitoring procedures, and did not expect any counterparties to fail their obligations. The Company deals only with primary dealers. If certain hedging criteria specified in derivatives and hedging accounting guidance are met, including testing for hedge effectiveness, hedge accounting may The hedge documentation specified the terms of the hedged item and the interest rate swap. The documentation also indicated the derivative was hedging a fixed-rate item, the hedge exposure was to the changes in the fair value of the hedged item, and the strategy was to eliminate fair value variability by converting fixed-rate interest payments to variable-rate interest payments. For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. The Company includes the gain or loss on the hedged items in the same line item—noninterest income—as the offsetting loss or gain on the related interest rate swap. The fixed rate loan hedged had an original maturity of 20 $10,641,000 $10,673,000 December 31, 2014. At December 31, 2014, $317,000 December 31, 2014 March 31, 2015. $93,000 March 31, 2015 $138,000 March 31, 2015 September 1, 2030. $123,000 $132,000 December 31, 2016 2015, Forward Delivery C ommitments The Company uses mandatory sell forward delivery commitments to sell whole loans. These commitments are also used as a hedge against exposure to interest rate risks resulting from rate locked loan origination commitments on certain mortgage loans held-for-sale. Gains and losses on the items hedged are deferred and recognized in accumulated other comprehensive income until the commitments are completed. At the completion of the commitments the gains and losses are recognized in the Company’s income statement. As of December 31, 2016 2015, $17,808,000 $18,208,000, 1.87% 4.63% 2.25% 5.13% December 31, 2016 2015, $558,000 $635,000 December 31, 2016 2015, The Company did not The Company did not have any gains or losses reclassified into earnings as a result of the discontinuance of cash flow hedges because it was probable that the original forecasted transaction would not occur by the end of the originally specified time frame as of December 31, 2016. Refer to Note 21 |
Note 23 - Fair Value Disclosure
Note 23 - Fair Value Disclosures | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | NOTE 23: Fair Value Disclosures The Company 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 shall not be 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 (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. The Company uses 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 costs). 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 The fair value hierarchy is as follows: ■ Level 1 ■ Level 2 1 ■ Level 3 A description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may Available-for-Sale Securities – 1 2 may Impaired Loans 3 Loans Held-for-Sale 2 Repossessed Assets third 3 Derivative Financial Instruments – Fair values for interest rate swap agreements are based upon the amounts required to settle the contracts. These instruments are valued using Level 2 The following table summarizes financial assets and liabilities measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: December 31, 2016 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Financial assets: Available-for-sale securities U.S. government and agency $ - $ 5,608 $ - $ 5,608 Municipal obligations - 67,664 - 67,664 Corporate obligations - 9,307 - 9,307 MBSs - government-backed - 29,512 - 29,512 CMOs - government-backed - 16,345 - 16,345 Loans held-for-sale - 18,230 - 18,230 December 31, 2015 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Financial assets: Available-for-sale securities U.S. government and agency $ - $ 10,615 $ - $ 10,615 Municipal obligations - 67,069 - 67,069 Corporate obligations - 9,450 - 9,450 MBSs - government-backed - 32,735 - 32,735 CMOs - government-backed - 25,869 - 25,869 Loans held-for-sale - 18,702 - 18,702 Certain financial assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The following tables summarizes financial assets and liabilities measured at fair value on a nonrecurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: December 31, 2016 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 649 $ 649 Repossessed assets - - 825 825 As of December 31, 2016, $657,000 $8,000 $649,000 3 December 31, 2015 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 2,028 $ 2,028 Repossessed assets - - 595 595 As of December 31, 2015, $2,076,000 $48,000 $2,028,000 3 Qu a n t i t a t ive In f or m a t i o n a b o u t S ig n ifi c a nt U n o b s e r v a b l e In pu t s Used in L e vel 3 F a i r V a lu e M e a s u r em e n t s – 3 , and the significant unobservable inputs and the ranges of values for those inputs: Fair Value at Principal Significant Range of December 31, Valuation Unobservable Significant Input Instrument 2016 2015 Technique Inputs Values (Dollars in Thousands) Impaired loans $ 649 $ 2,028 Appraisal of collateral (1) Appraisal adjustments 10 - 30% Repossessed assets $ 825 $ 595 Appraisal of collateral (1) (3) Liquidation expenses (2) 10 - 30% (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 (2) Appraisals may (3) Includes qualitative adjustments by management and estimated liquidation expenses. ASC Topic 825 December 31, 2016 2015, The fair value amounts of financial instruments have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may December 31, 2016 Level 1 Level 2 Level 3 Total Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 7,318 $ - $ - $ 7,318 $ 7,318 Federal Home Loan Bank stock 4,012 - - 4,012 4,012 Federal Reserve Bank stock 871 - - 871 871 Loans receivable, net - - 464,797 464,797 460,742 Accrued interest and dividends receivable 2,123 - - 2,123 2,123 Mortgage servicing rights - - 6,741 6,741 5,853 Cash surrender value of life insurance 14,095 - - 14,095 14,095 Financial liabilities: Non-maturing interest bearing deposits - 264,640 - 264,640 264,640 Noninterest bearing deposits 82,877 - - 82,877 82,877 Time certificates of deposit - - 165,129 165,129 165,278 Accrued expenses and other liabilities 4,291 - - 4,291 4,291 Federal Home Loan Bank advances and other borrowings - - 82,462 82,462 82,413 Subordinated debentures - - 14,291 14,291 15,155 Off-balance-sheet instruments Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - December 31, 2015 Level 1 Level 2 Level 3 Total Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 7,438 $ - $ - $ 7,438 $ 7,438 Federal Home Loan Bank stock 3,397 - - 3,397 3,397 Federal Reserve Bank stock 887 - - 887 887 Loans receivable, net - - 408,414 408,414 401,706 Accrued interest and dividends receivable 2,278 - - 2,278 2,278 Mortgage servicing rights - - 6,452 6,452 4,968 Cash surrender value of life insurance 12,514 - - 12,514 12,514 Financial liabilities: Non-maturing interest bearing deposits - 253,704 - 253,704 253,704 Noninterest bearing deposits 77,031 - - 77,031 77,031 Time certificates of deposit - - 152,691 152,691 152,447 Accrued expenses and other liabilities 4,050 - - 4,050 4,050 Federal Home Loan Bank advances and other borrowings - - 72,811 72,811 72,716 Subordinated debentures - - 14,306 14,306 15,155 Off-balance-sheet instruments Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - The following methods and assumptions were used by the Company in estimating the fair value of the following classes of financial instruments. Cash, Interest Bearing Accounts, Accrued Interest and Dividend Receivable and Accrued Expenses and Other Liabilities Stock in the FHLB and FRB Loans Receivable – secondary Fair values are adjusted for credit risk based on assessment of risk identified with specific loans, and risk adjustments on the remaining portfolio based on credit loss experience. Assumptions regarding credit risk are judgmentally determined using specific borrower information, internal credit quality analysis, and historical information on segmented loan categories for non-specific borrowers. Cash Surrender Value of Life Insurance Mortgage Servicing Rights 13.00% 15.00%, 104.00% 277.00% 1.00% 1.25% Deposits and Time Certificates of Deposit Advances from the FHLB and Subordinated Debentures December 31, 2016 2015, Off-Balance-Sheet Instruments - Fair values for off-balance-sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair values of these financial instruments are considered insignificant. Additionally, those financial instruments have no carrying value. |
Note 24 - Condensed Parent Comp
Note 24 - Condensed Parent Company Financial Statements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 24: Condensed Parent Company Financial Statements Included below are the condensed financial statements of the Parent Company, Eagle Bancorp Montana, Inc.: Eagle Bancorp Montana, Inc. Condensed Statements of Financial Condition December 31, 2016 2015 (In Thousands) Assets: Cash and cash equivalents $ 953 $ 243 Securities available-for-sale 3,727 3,810 Investment in Eagle Bancorp Statutory Trust I 155 155 Investment in Opportunity Bank of Montana 67,609 64,726 Other assets 2,003 1,469 Total assets $ 74,447 $ 70,403 Liabilities and Shareholders's Equity: Accounts payable and accrued expenses $ 21 $ 4 Long-term subordinated debt 14,970 14,949 Shareholders' equity 59,456 55,450 Total liabilities and shareholders' equity $ 74,447 $ 70,403 Eagle Bancorp Montana, Inc. Condensed Statements of Income Years Ended December 31, 2016 2015 (In Thousands) Interest income $ 98 $ 99 Interest expense (785 ) (448 ) Noninterest income - 14 Noninterest expense (515 ) (593 ) Loss before income taxes (1,202 ) (928 ) Income tax benefit (423 ) (374 ) Loss before equity in undistributed earnings of Opportunity Bank of Montana (779 ) (554 ) Equity in undistributed earnings of Opportunity Bank of Montana 5,911 3,134 Net income $ 5,132 $ 2,580 Eagle Bancorp Montana, Inc. Condensed Statements of Cash Flow Years Ended December 31, 2016 2015 (In Thousands) Cash Flows from Operating Activities: Net income $ 5,132 $ 2,580 Adjustments to reconcile net income to net cash used in operating activities: (5,911 ) (3,134 ) Equity in undistributed earnings of Opportunity Bank of Montana Other adjustments, net (415 ) (204 ) Net cash used in operating activities (1,194 ) (758 ) Cash Flows from Investing Activities: Cash contributions from Opportunity Bank of Montana 2,400 1,240 Cash distributions to Opportunity Bank of Montana - (8,000 ) Activity in available-for-sale securities: Sales - 790 Maturities, principal payments and calls 420 330 Purchases (405 ) (1,194 ) Net cash provided by (used in) investing activities 2,415 (6,834 ) Cash Flows from Financing Activities: Employee Stock Ownership Plan payments and dividends 182 174 Proceeds from issuance of subordinated debentures - 10,000 Payments for debt issuance costs - (206 ) Payments to purchase treasury stock - (1,320 ) Treasury shares reissued for compensation 500 204 Dividends paid (1,193 ) (1,164 ) Net cash (used in) provided by financing activities (511 ) 7,688 Net Increase in Cash and Cash Equivalents 710 96 Cash and Cash Equivalents, beginning of period 243 147 Cash and Cash Equivalents, end of period $ 953 $ 243 |
Note 25 - Quarterly Results of
Note 25 - Quarterly Results of Operations (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 2 5 : Quarterly Results of Operations (Unaudited) The following is a condensed summary of quarterly consolidated results of operations: Year Ended December 31, 2016 First Second Third Fourth Quarter Quarter Quarter Quarter (Dollars in Thousands, Except Per Share Data) Interest and dividend income $ 5,618 $ 5,731 $ 6,208 $ 6,354 Interest expense 750 788 787 793 Net interest income 4,868 4,943 5,421 5,561 Loan loss provision 450 459 472 452 Net interest income after loan loss provision 4,418 4,484 4,949 5,109 Noninterest income 2,896 3,806 4,689 4,599 Noninterest expense 6,548 6,686 7,159 7,626 Income before income tax expense 766 1,604 2,479 2,082 Income tax expense 119 340 707 633 Net income $ 647 $ 1,264 $ 1,772 $ 1,449 Other comprehensive income (loss) $ 668 $ 1,461 $ (496 ) $ (2,296 ) Basic earnings per common share $ 0.17 $ 0.34 $ 0.46 $ 0.39 Diluted earnings per common share $ 0.17 $ 0.32 $ 0.46 $ 0.37 Year Ended December 31, 2015 First Second Third Fourth Quarter Quarter Quarter Quarter (Dollars in Thousands, Except Per Share Data) Interest and dividend income $ 4,724 $ 5,015 $ 5,154 $ 5,573 Interest expense 501 526 721 707 Net interest income 4,223 4,489 4,433 4,866 Loan loss provision 322 328 310 343 Net interest income after loan loss provision 3,901 4,161 4,123 4,523 Noninterest income 2,882 3,275 2,912 2,692 Noninterest expense 6,361 6,472 6,492 6,401 Income before income tax expense 422 964 543 814 Income tax expense 36 172 22 (67 ) Net income $ 386 $ 792 $ 521 $ 881 Other comprehensive income (loss) $ 795 $ (1,666 ) $ 975 $ 363 Basic earnings per common share $ 0.10 $ 0.21 $ 0.14 $ 0.23 Diluted earnings per common share $ 0.10 $ 0.21 $ 0.14 $ 0.22 |
Note 26 - Subsequent Events
Note 26 - Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 2 6 : Subsequent Events On February 13, 2017, $10,000,000 5.75% February 15, 2022. $9,800,000. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of Eagle Bancorp Montana Inc., the Bank, Eagle Bancorp Statutory Trust I and AFSB NMTC Investment Fund, LLC. All significant intercompany transactions and balances have been eliminated in consolidation. |
Basis of Presentation and Use of Estimates [Policy Text Block] | Consolidated Financial Statement Presentation and Use of Estimates The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In preparing consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statement of financial condition and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, mortgage servicing rights, the valuation of financial instruments, deferred tax assets and liabilities, and the valuation of foreclosed assets. In connection with the determination of the estimated losses on loans, foreclosed assets, valuation of mortgage servicing rights and valuation of the interest rate swap (terminated during the quarter ended March 31, 2015), The Company evaluated subsequent events for potential recognition and/or disclosure through the date the consolidated financial statements were issued. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Significant Group Concentrations of Credit Risk Most of the Company’s business activity is with customers located within Montana. Note 4: 5: one The Company carries certain assets with other financial institutions which are subject to credit risk by the amount such assets exceed federal deposit insurance limits. At December 31, 2016 2015, June 2015. Management monitors the financial stability of correspondent banks and considers amounts advanced in excess of FDIC insurance limits to present no significant additional risk to the Company. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For the purpose of presentation in the consolidated statements of cash flows, cash and cash equivalents are defined as those amounts included in the balance sheet captions “cash and due from banks” and “interest bearing deposits in banks” all of which mature within ninety The Bank properly maintains amounts in excess of reserve balances as required by the FRB. The Bank had vault cash reserves in excess of the required reserve amount of $676,000 December 31, 2016. |
Marketable Securities, Policy [Policy Text Block] | Investment Securities The Company can designate debt and equity securities as held-to-maturity, available-for-sale or trading. At December 31, 2016 2015 Held-to- M aturity Available-for- S ale may Declines in the fair value of individual held-to-maturity and available-for-sale securities below their cost that are other than temporary are recognized by write-downs of the individual securities to their fair value. Such write-downs would be included in earnings as realized losses. Trading |
Federal Home Loan Bank Stock, Policy [Policy Text Block] | Federal Home Loan Bank Stock The Company’s investment in FHLB stock is a restricted investment carried at cost ($100 40,121 33,969 December 31, 2016 2015, |
Federal Reserve Bank Stock [Policy Text Block] | Federal Reserve Bank Stock The Company’s investment in FRB stock is a restricted investment carried at cost, which approximates its fair value. Although the par value of the stock is $100 $50 17,415 December 31, 2016 2015. 6.00% |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Mortgage Loans Held-for-Sale Mortgage loans originated and intended for sale in the secondary |
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block] | Loans The Bank grants mortgage, commercial and consumer loans to customers. A substantial portion of the loan portfolio is represented by mortgage loans in Montana. The ability of the Bank’s debtors to honor their contracts is dependent upon the general economic conditions in this area. Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding unpaid principal balances net of any unearned income, allowance for loan losses, and unamortized deferred fees or costs on originated loans and unamortized premiums or unaccreted discounts on purchased loans. Loan origination fees, net of certain direct origination costs are deferred and amortized over the contractual life of the loan, and recorded as an adjustment to the yield, using the interest method. Loan Origination/Risk Management – The Bank selectively extends credit for the purpose of establishing long-term relationships with its customers. The Bank mitigates the risks inherent in lending by focusing on businesses and individuals with demonstrated payment history, historically favorable profitability trends and stable cash flows. In addition to these primary sources of repayment, the Bank considers tangible collateral and personal guarantees as secondary may A reporting system supplements the loan review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and nonperforming and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions. The Bank regularly contracts for independent loan reviews that validate the credit risk program. Results of these reviews are presented to management. The loan review process compliments and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as, the Company’s policies and procedures. Residential Mortgages ( 1 4 ) – The Bank originates 1 4 may 1 4 80.00% secondary 30 secondary Commercial Real Estate Mortgages and Land Loans – The Bank makes commercial real estate loans and land loans (both developed and undeveloped) and loans on multi-family dwellings. Commercial real estate loans are collateralized by owner-occupied and non-owner-occupied real estate. Payments on loans secured by such properties are often dependent on the successful operation or management of the properties. Accordingly, repayment of these loans may Real Estate Construction – may may Home Equity Loans – may may first 1 4 85.00% Consumer Loans – Commercial and Industrial Loans – Non-Accrual and Past Due Loans – may may 90 may |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management's periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of specific, general and unallocated components. For such loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is based on historical loss experience adjusted for qualitative factors. An unallocated component is maintained to cover uncertainties that could affect management's estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all the circumstances surrounding the loan and the borrower, including the length of delay, the reasons for the delay, the borrower's prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan's effective interest rate, the loan's obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | Troubled Debt Restructured Loans A troubled debt restructured loan is a loan in which the Bank grants a concession to the borrower that it would not otherwise consider, for reasons related to a borrower's financial difficulties. The loan terms which have been modified or restructured due to a borrower's financial difficulty, include but are not limited to a reduction in the stated interest rate; an extension of the maturity at an interest rate below current market rates; a reduction in the face amount of the debt; a reduction in the accrued interest; or re-aging, extensions, deferrals, renewals and rewrites or a combination of these modification methods. A troubled debt restructured loan would generally be considered impaired in the year of modification and will be assessed periodically for continued impairment. |
Transfers and Servicing of Financial Assets, Servicing of Financial Assets, Policy [Policy Text Block] | Mortgage Servicing Rights Servicing assets are recognized as separate assets when rights are acquired through purchase or through sale of financial assets. Generally, purchased servicing rights are capitalized at the cost to acquire the rights. For sales of mortgage loans, a portion of the cost of originating the loan is allocated to the servicing right based on relative fair value. Fair value is based on a market price valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that the fair value is less than the capitalized amount for the tranches. If the Company later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. |
Bank Owned Life Insurance [Policy Text Block] | Cash Surrender Value of Life Insurance Life insurance policies are initially recorded at cost at the date of purchase. Subsequent to purchase, the policies are periodically adjusted for fair value. The adjustment to fair value increases or decreases the carrying value of the policies and is recorded as an income or expense on the consolidated statement of income. For the years ended December 31, 2016 2015, |
Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block] | Foreclosed Assets Assets acquired through, or in lieu of, loan foreclosure are initially recorded at fair value less estimated selling cost at the date of foreclosure. All write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, property held-for-sale is carried at fair value less cost to sell. Impairment losses on property to be held and used are measured as the amount by which the carrying amount of a property exceeds its fair value. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. Valuations are periodically performed by management, and any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the lower of its cost or fair value less cost to sell. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Land is carried at cost. Property and equipment is recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the expected useful lives of the assets, ranging from 3 40 |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company adopted authoritative guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions. The Company’s income tax expense consists of the following components: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 50 The Company recognizes interest accrued on penalties related to unrecognized tax benefits in tax expense. During the years ended December 31, 2016 2015 December 31, 2016 2015. 2013 2013 |
Stockholders' Equity, Policy [Policy Text Block] | Treasury Stock Treasury stock is accounted for on the cost method and consists of 271,718 303,663 December 31, 2016 2015, On July 21, 2016, 100,000 may 2016. July 21, 2017. On July 23, 2015, 100,000 three December 31, 2015, 15,000 $11.75 three September 30, 2015, 46,065 $11.47 July 23, 2016. On July 1, 2014, 200,000 55,800 $11.03 six June 30, 2015. 55,000 $10.66 six December 31, 2014. June 30, 2015. |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs The Company expenses advertising costs as they are incurred. Advertising costs were $696,000 $800,000 December 31, 2016 2015, |
Employee Stock Ownership Plan (ESOP), Policy [Policy Text Block] | Employee Stock Ownership Plan Compensation expense recognized for the Company’s ESOP equals the fair value of shares that have been allocated or committed to be released for allocation to participants. Any difference between the fair value of the shares at the time and the ESOP’s original acquisition cost is charged or credited to shareholders’ equity (capital surplus). The cost of ESOP shares that have not yet been allocated or committed to be released is deducted from shareholders’ equity. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Earnings per common share is computed using the two 260, 260 two two 3: |
Derivatives, Policy [Policy Text Block] | Derivatives Derivatives are recognized as assets and liabilities on the consolidated statement of financial condition and measured at fair value. For exchange-traded contracts, fair value is based on quoted market prices. For non-exchange traded contracts, fair value is based on dealer quotes, pricing models, discounted cash flow methodologies, or similar techniques for which the determination of fair value may Mortgage Loan Commitments – M ortgage loan commitments that relate to the origination of a mortgage that will be held-for-sale upon funding are considered derivative instruments. The Company enters into commitments to fund residential mortgage loans at specified times in the future, with the intention that these loans will subsequently be sold in the secondary Interest Rate Lock Commitments – Forward Delivery Commitments – The Company uses mandatory sell forward delivery commitments to sell whole loans. These commitments are used as a hedge against exposure to interest rate risks resulting from rate locked loan origination commitments on certain mortgage loans held-for-sale. Gains and losses on the items hedged are deferred and recognized in accumulated other comprehensive income until the commitments are completed. At the point of completion of the commitments the gains and losses are recognized in the Company’s income statement. Interest Rate Swap Agreements – For asset/liability management purposes, the Company may The gain or loss on a derivative designated and qualifying as a fair value hedging instrument, as well as the offsetting gain or loss on the hedged item attributable to the risk being hedged, is recognized currently in earnings in the same accounting period. The ineffective portion of the gain or loss on the derivative instrument, if any, is recognized currently in earnings. For fair value hedges, the net settlement (upon close-out or termination) that offsets changes in the value of the loans adjusts the basis of the loans and is deferred and amortized over the life of the loans. |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Sales, Policy [Policy Text Block] | Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) (2) (3) |
Business Combinations Policy [Policy Text Block] | Business Combinations, Goodwill and Other Intangible Assets Authoritative guidance requires that all business combinations initiated after December 31, 2001, The goodwill recorded for the acquisition of the branches of Sterling Financial Corporation (“Sterling”) in 2012 $6,890,000 2013 $144,000 $7,034,000. June 30. 7 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In May 2014, 2014 9, 606). may July 9, 2015, one first 2018 In January 2016, 2016 01 December 15, 2017 In February 2016, 2016 2, 842) 12 December 15, 2018, In June 2016, 2016 13, 326) December 15, 2019, may December 15, 2018, first |
Note 3 - Earnings Per Share (Ta
Note 3 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended December 31, 2016 2015 (Dollars in Thousands, Except for Per Share Data) Weighted average shares outstanding during the period in which basic earnings per share is calculated 3,784,788 3,813,090 Dilutive effect of stock compensation 88,801 46,535 Average outstanding shares on which diluted earnings per share is calculated 3,873,589 3,859,625 Net income applicable to common stockholders $ 5,132 $ 2,580 Basic earnings per share $ 1.36 $ 0.68 Diluted earnings per share $ 1.32 $ 0.67 |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Marketable Securities [Table Text Block] | December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Available-for-sale: U.S. government and agency $ 5,673 $ 7 $ (72 ) $ 5,608 Municipal obligations 68,493 575 (1,404 ) 67,664 Corporate obligations 9,454 15 (162 ) 9,307 MBSs - government-backed 29,537 283 (308 ) 29,512 CMOs - government-backed 16,530 15 (200 ) 16,345 Total $ 129,687 $ 895 $ (2,146 ) $ 128,436 December 31, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Available-for-sale: U.S. government and agency $ 10,684 $ 26 $ (95 ) $ 10,615 Municipal obligations 66,606 1,041 (578 ) 67,069 Corporate obligations 9,615 - (165 ) 9,450 MBSs - government-backed 32,810 111 (186 ) 32,735 CMOs - government-backed 26,233 40 (404 ) 25,869 Total $ 145,948 $ 1,218 $ (1,428 ) $ 145,738 |
Schedule of Realized Gain (Loss) [Table Text Block] | Years Ended December 31, 2016 2015 (In Thousands) Proceeds from sale of available-for-sale securities $ 23,649 $ 31,301 Gross realized gain on sale of available-for-sale securities $ 272 $ 534 Gross realized loss on sale of available-for-sale securities (23 ) (300 ) Net realized gain on sale of available-for-sale securities $ 249 $ 234 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair Cost Value (In Thousands) Due in one year or less $ 1,042 $ 1,040 Due from one to five years 8,116 8,058 Due from five to ten years 15,223 15,038 Due after ten years 59,239 58,443 83,620 82,579 MBSs - government-backed 29,537 29,512 CMOs - government-backed 16,530 16,345 Total $ 129,687 $ 128,436 |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31, 2016 Less than 12 Months 12 Months or Longer Gross Gross Fair Unrealized Fair Unrealized Value Losses Value Losses (In Thousands) U.S. government and agency $ 4,420 $ (72 ) $ - $ - Municipal obligations 39,786 (1,392 ) 634 (12 ) Corporate obligations 3,375 (15 ) 4,918 (147 ) MBSs and CMOs - government-backed 18,113 (405 ) 7,855 (103 ) Total $ 65,694 $ (1,884 ) $ 13,407 $ (262 ) December 31, 2015 Less than 12 months 12 months or Longer Gross Gross Fair Unrealized Fair Unrealized Value Losses Value Losses (In Thousands) U.S. government and agency $ 3,173 $ (24 ) $ 5,986 $ (71 ) Municipal obligations 15,913 (132 ) 21,163 (446 ) Corporate obligations 5,283 (80 ) 3,915 (85 ) MBSs and CMOs - government-backed 23,164 (249 ) 13,886 (341 ) Total $ 47,533 $ (485 ) $ 44,950 $ (943 ) |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2016 2015 (In Thousands) First mortgage loans: Residential mortgage (1-4 family) $ 113,262 $ 118,133 Commercial real estate 214,927 167,930 Real estate construction 20,540 22,958 Other loans: Home equity 49,018 45,345 Consumer 14,800 14,641 Commercial 54,706 39,072 Total 467,253 408,079 Allowance for loan losses (4,770 ) (3,550 ) Deferred loan fees, net (1,092 ) (795 ) Total loans, net $ 461,391 $ 403,734 |
Schedule of Information Regarding Non-performing Assets [Table Text Block] | December 31, 2016 2015 (Dollars in Thousands) Non-accrual loans $ 614 $ 2,030 Accruing loans delinquent 90 days or more 495 472 Restructured loans, net 43 46 Total nonperforming loans 1,152 2,548 Real estate owned and other repossessed assets, net 825 595 Total nonperforming assets $ 1,977 $ 3,143 Total nonperforming assets as a percentage of total assets 0.29 % 0.50 % Allowance for loan losses $ 4,770 $ 3,550 Percent of allowance for loan losses to nonperforming loans 414.06 % 139.32 % Percent of allowance for loan losses to nonperforming assets 241.27 % 112.95 % |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Residential Mortgage (1-4 Family) Commercial Real Estate Real Estate Construction Home Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, January 1, 2016 $ 911 $ 1,593 $ 184 $ 342 $ 66 $ 454 $ 3,550 Charge-offs (4 ) (298 ) - (7 ) (204 ) (119 ) (632 ) Recoveries - - - - 19 - 19 Provision 90 784 60 125 312 462 1,833 Ending balance, December 31, 2016 $ 997 $ 2,079 $ 244 $ 460 $ 193 $ 797 $ 4,770 Ending balance, December 31, 2016 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ 8 $ - $ 8 Ending balance, December 31, 2016 allocated to loans collectively evaluated for impairment $ 997 $ 2,079 $ 244 $ 460 $ 185 $ 797 $ 4,762 Loans receivable: Ending balance, December 31, 2016 $ 113,262 $ 214,927 $ 20,540 $ 49,018 $ 14,800 $ 54,706 $ 467,253 Ending balance, December 31, 2016 of loans individually evaluated for impairment $ 221 $ - $ - $ 340 $ 96 $ - $ 657 Ending balance, December 31, 2016 of loans collectively evaluated for impairment $ 113,041 $ 214,927 $ 20,540 $ 48,678 $ 14,704 $ 54,706 $ 466,596 Residential Mortgage (1-4 Family) Commercial Real Estate Real Estate Construction Home Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, January 1, 2015 $ 684 $ 1,098 $ 35 $ 270 $ 46 $ 317 $ 2,450 Charge-offs (137 ) - - - (61 ) (25 ) (223 ) Recoveries - - - 1 18 1 20 Provision 364 495 149 71 63 161 1,303 Ending balance, December 31, 2015 $ 911 $ 1,593 $ 184 $ 342 $ 66 $ 454 $ 3,550 Ending balance, December 31, 2015 allocated to loans individually evaluated for impairment $ - $ - $ - $ 7 $ 11 $ 30 $ 48 Ending balance, December 31, 2015 allocated to loans collectively evaluated for impairment $ 911 $ 1,593 $ 184 $ 335 $ 55 $ 424 $ 3,502 Loans receivable: Ending balance, December 31, 2015 $ 118,133 $ 167,930 $ 22,958 $ 45,345 $ 14,641 $ 39,072 $ 408,079 Ending balance, December 31, 2015 of loans individually evaluated for impairment $ 730 $ 667 $ - $ 207 $ 145 $ 327 $ 2,076 Ending balance, December 31, 2015 of loans collectively evaluated for impairment $ 117,403 $ 167,263 $ 22,958 $ 45,138 $ 14,496 $ 38,745 $ 406,003 |
Financing Receivable Credit Quality Indicators [Table Text Block] | December 31, 2016 Residential Mortgage (1-4 Family) Commercial Real Estate Real Estate Construction Home Equity Consumer Commercial Total (In Thousands) Grade: Pass $ 112,524 $ 214,476 $ 20,084 $ 48,643 $ 14,697 $ 54,470 $ 464,894 Special mention - - 456 - - - 456 Substandard 738 451 - 375 95 236 1,895 Doubtful - - - - - - - Loss - - - - 8 - 8 Total $ 113,262 $ 214,927 $ 20,540 $ 49,018 $ 14,800 $ 54,706 $ 467,253 Credit risk profile based on payment activity Performing $ 112,585 $ 214,923 $ 20,540 $ 48,643 $ 14,704 $ 54,706 $ 466,101 Restructured loans - - - 43 - - 43 Nonperforming 677 4 - 332 96 - 1,109 Total $ 113,262 $ 214,927 $ 20,540 $ 49,018 $ 14,800 $ 54,706 $ 467,253 December 31, 2015 Residential Mortgage (1-4 Family) Commercial Real Estate Real Estate Construction Home Equity Consumer Commercial Total (In Thousands) Grade: Pass $ 116,711 $ 167,263 $ 22,176 $ 45,100 $ 14,486 $ 38,675 $ 404,411 Special mention - - - - - - - Substandard 1,422 667 782 156 140 367 3,534 Doubtful - - - 82 4 - 86 Loss - - - 7 11 30 48 Total $ 118,133 $ 167,930 $ 22,958 $ 45,345 $ 14,641 $ 39,072 $ 408,079 Credit risk profile based on payment activity Performing $ 117,182 $ 167,259 $ 22,711 $ 45,138 $ 14,496 $ 38,745 $ 405,531 Restructured loans - - - 46 - - 46 Nonperforming 951 671 247 161 145 327 2,502 Total $ 118,133 $ 167,930 $ 22,958 $ 45,345 $ 14,641 $ 39,072 $ 408,079 |
Impaired Financing Receivables [Table Text Block] | December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment (In Thousands) With no related allowance: Residential mortgage (1-4 family) $ 221 $ 221 $ - $ 476 Commercial real estate - - - 334 Real estate construction - - - - Home equity 340 390 - 270 Consumer 88 135 - 111 Commercial - - - 148 With a related allowance: Residential mortgage (1-4 family) - - - - Commercial real estate - - - - Real estate construction - - - - Home equity - - - 3 Consumer 8 8 8 10 Commercial - - - 15 Total: Residential mortgage (1-4 family) 221 221 - 476 Commercial real estate - - - 334 Real estate construction - - - - Home equity 340 390 - 273 Consumer 96 143 8 121 Commercial - - - 163 Total $ 657 $ 754 $ 8 $ 1,367 December 31, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment (In Thousands) With no related allowance: Residential mortgage (1-4 family) $ 730 $ 730 $ - $ 690 Commercial real estate 667 667 - 334 Real estate construction - - - - Home equity 200 234 - 264 Consumer 134 134 - 91 Commercial 297 297 - 263 With a related allowance: Residential mortgage (1-4 family) - - - 411 Commercial real estate - - - - Real estate construction - - - - Home equity 7 7 7 3 Consumer 11 11 11 9 Commercial 30 30 30 15 Total: Residential mortgage (1-4 family) 730 730 - 1,101 Commercial real estate 667 667 - 334 Real estate construction - - - - Home equity 207 241 7 267 Consumer 145 145 11 100 Commercial 327 327 30 278 Total $ 2,076 $ 2,110 $ 48 $ 2,080 |
Past Due Financing Receivables [Table Text Block] | December 31, 2016 30-89 Days Past Due 90 Days and Greater Total Past Due Current Total Loans Recorded Investment >90 Days and Still Accruing (In Thousands) Residential mortgage (1-4 family) $ 975 $ 677 $ 1,652 $ 111,610 $ 113,262 $ 456 Commercial real estate 513 4 517 214,410 214,927 4 Real estate construction - - - 20,540 20,540 - Home equity 365 332 697 48,321 49,018 35 Consumer 169 96 265 14,535 14,800 - Commercial 249 - 249 54,457 54,706 - Total $ 2,271 $ 1,109 $ 3,380 $ 463,873 $ 467,253 $ 495 December 31, 2015 30-89 Days Past Due 90 Days and Greater Total Past Due Current Total Loans Recorded Investment >90 Days and Still Accruing (In Thousands) Residential mortgage (1-4 family) $ 1,163 $ 951 $ 2,114 $ 116,019 $ 118,133 $ 221 Commercial real estate 177 671 848 167,082 167,930 4 Real estate construction 662 247 909 22,049 22,958 247 Home equity 319 161 480 44,865 45,345 - Consumer 184 145 329 14,312 14,641 - Commercial 173 327 500 38,572 39,072 - Total $ 2,678 $ 2,502 $ 5,180 $ 402,899 $ 408,079 $ 472 |
Directors, Senior Officers and their Related Parties [Member] | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In Thousands) Balance at January 1, 2015 $ 7,435 Principal additions 1,073 Principal payments (6,132 ) Balance at December 31, 2015 $ 2,376 Principal additions 726 Principal payments (688 ) Balance at December 31, 2016 $ 2,414 December 31, 2016 2015 (In Thousands) Loans serviced, for the benefit of others, for directors, senior officers and their related parties $ 1,327 $ 1,220 Years Ended December 31, 2016 2015 (In Thousands) Interest income from loans owned for directors, senior officers and their related parties $ 45 $ 14 |
Note 6 - Troubled Debt Restru40
Note 6 - Troubled Debt Restructurings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | December 31, 2016 Accrual Non-Accrual Total Status Status Modification (In Thousands) Residential mortgage (1-4 family) $ - $ - $ - Commercial real estate - - - Real estate construction - - - Home equity 43 - 43 Consumer - - - Commercial - - - Total $ 43 $ - $ 43 December 31, 2015 Accrual Non-Accrual Total Status Status Modification (In Thousands) Residential mortgage (1-4 family) $ - $ - $ - Commercial real estate - - - Real estate construction - - - Home equity 46 - 46 Consumer - - - Commercial - - - Total $ 46 $ - $ 46 |
Note 7 - Foreclosed Assets (Tab
Note 7 - Foreclosed Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Real Estate Acquired Through Foreclosure Activities [Table Text Block] | December 31, 2016 2015 (In Thousands) Residential mortgage (1-4 family) $ 202 $ - Commercial real estate 603 595 Consumer 20 - Total foreclosed assets $ 825 $ 595 |
Schedule of Expenses Related to Foreclosed Assets [Table Text Block] | Years Ended December 31, 2016 2015 (In Thousands) Net gain (loss) on sale $ 6 $ (13 ) Operating expenses net of rental income (33 ) (23 ) Expenses related to foreclosed assets, net $ (27 ) $ (36 ) |
Note 8 - Mortgage Servicing R42
Note 8 - Mortgage Servicing Rights (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Activities in Mortgage Servicing Rights [Table Text Block] | Years Ended December 31, 2016 2015 (In Thousands) Mortgage servicing rights: Beginning balance $ 4,968 $ 4,115 Mortgage servicing rights capitalized 2,134 1,652 Amortization of mortgage servicing rights (1,249 ) (799 ) Ending balance 5,853 4,968 Valuation allowance: Beginning balance - - Provision (credited) to operations - - Ending balance - - Mortgage servicing rights, net $ 5,853 $ 4,968 |
Note 9 - Premises and Equipme43
Note 9 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2016 2015 (In Thousands) Land $ 4,086 $ 3,803 Buildings and improvements 20,832 19,055 Furniture and equipment 6,300 6,035 Construction in progress 111 230 31,329 29,123 Accumulated depreciation (11,936 ) (10,906 ) Premises and equipment, net $ 19,393 $ 18,217 |
Note 10 - Goodwill and Other 44
Note 10 - Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | December 31, 2016 2015 (In Thousands) Goodwill $ 7,034 $ 7,034 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2016 2015 (In Thousands) Core deposit intangible $ 1,031 $ 1,031 Accumulated amortization (647 ) (517 ) Core deposit intangible, net $ 384 $ 514 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Years ended December 31: (In Thousands) 2017 $ 111 2018 92 2019 73 2020 55 2021 36 Thereafter 17 Total $ 384 |
Note 11 - Deposits (Tables)
Note 11 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Deposits [Table Text Block] | December 31, 2016 2015 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in Thousands) Noninterest checking $ 82,877 0.00 % $ 77,031 0.00 % Interest bearing checking 93,163 0.03 % 87,350 0.03 % Savings 82,266 0.04 % 71,474 0.04 % Money market 89,211 0.11 % 94,880 0.12 % Time certificates of deposits 165,278 0.84 % 152,447 0.92 % Total $ 512,795 0.30 % $ 483,182 0.32 % |
Schedule of Maturities of Time Deposits [Table Text Block] | (In Thousands) Within one year $ 116,561 One to two years 32,039 Two to three years 8,182 Three to four years 4,546 Thereafter 3,950 Total $ 165,278 |
Schedule of Interest Expense on Deposits [Table Text Block] | Years Ended December 31, 2016 2015 (In Thousands) Checking $ 27 $ 27 Savings 30 30 Money market 101 107 Time certificates of deposits 1,360 1,293 Total $ 1,518 $ 1,457 |
Note 12 - Advances From the F46
Note 12 - Advances From the Federal Home Loan Bank and Other Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Advances from Federal Home Loan Bank and Other Borrowings Maturities [Table Text Block] | (In Thousands) Within one year $ 55,406 One to two years 12,767 Two to three years 10,649 Three to four years 3,446 Four to five years 145 Thereafter - Total $ 82,413 |
Note 13 - Subordinated Debent47
Note 13 - Subordinated Debentures (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Subordinated Borrowing [Table Text Block] | December 31, 2016 2015 Unamortized Unamortized Debt Debt Principal Issuance Principal Issuance Amount Costs Amount Costs (In Thousands) Subordinated debentures: Variable at 3-Month Libor plus 1.42%, due 2035 $ 5,155 $ - $ 5,155 $ - Fixed at 6.75%, due 2025 10,000 (185 ) 10,000 (206 ) Total $ 15,155 $ (185 ) $ 15,155 $ (206 ) |
Note 14 - Commitments and Con48
Note 14 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years ended December 31: (In Thousands) 2017 $ 427 2018 393 2019 375 2020 332 2021 242 Thereafter 93 Total $ 1,862 |
Note 15 - Accumulated Other C49
Note 15 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Gains (Losses) on Derivatives Designated as Cash Flow Hedges Unrealized (Losses) Gains on Investment Securities Available for Sale Total (In Thousands) Balance, January 1, 2015 $ 294 $ (509 ) $ (215 ) Other comprehensive income, before reclassifications and income taxes 2,046 883 2,929 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (1,907 ) (234 ) (2,141 ) Income tax expense (57 ) (264 ) (321 ) Total other comprehensive income 82 385 467 Balance, December 31, 2015 $ 376 $ (124 ) $ 252 Other comprehensive income (loss), before reclassifications and income taxes 2,861 (792 ) 2,069 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (2,938 ) (249 ) (3,187 ) Income tax benefit 31 424 455 Total other comprehensive loss (46 ) (617 ) (663 ) Balance, December 31, 2016 $ 330 $ (741 ) $ (411 ) |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended December 31, 2016 2015 (In Thousands) Current U.S. federal $ 1,369 $ 424 Montana 450 83 1,819 507 Deferred U.S. federal (13 ) (426 ) Montana (7 ) 82 (20 ) (344 ) Total $ 1,799 $ 163 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2016 2015 (In Thousands) Deferred tax assets: Loans receivable $ 1,805 $ 1,204 Deferred loan fees 500 381 Deferred compensation 786 698 Employee benefits 419 321 Unrealized losses on securities available-for-sale 510 86 Acquisition costs 580 633 New Market Tax Credits carry forward 624 633 Alternative Minimum Tax carry forward 466 445 Other 245 267 Total deferred tax assets 5,935 4,668 Deferred tax liabilities: Premises and equipment 821 931 Federal Home Loan Bank stock 551 529 Mortgage servicing rights 1,230 595 Unrealized gains on hedging 228 259 Goodwill 776 585 Other 364 279 Total deferred tax liabilities 3,970 3,178 Net deferred tax asset $ 1,965 $ 1,490 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended December 31, 2016 2015 % of % of Pretax Pretax Amount Income Amount Income (Dollars in Thousands) Federal income taxes at the statutory rate $ 2,357 34.00 % $ 933 34.00 % State income taxes 468 6.75 % 185 6.75 % Tax-exempt interest income (458 ) -6.61 % (440 ) -16.03 % Income from bank-owned life insurance (235 ) -3.39 % (174 ) -6.33 % New Market Tax Credits (456 ) -6.58 % (418 ) -15.24 % Other, net 123 1.79 % 77 2.79 % Actual tax benefit and effective tax rate $ 1,799 25.96 % $ 163 5.94 % |
Note 17 - Supplemental Cash F51
Note 17 - Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Years Ended December 31, 2016 2015 (In Thousands) Supplemental cash flow information: Cash paid during the year for interest $ 3,129 $ 2,442 Cash paid during the year for income taxes 1,640 845 Non-cash investing and financing activities: (Decrease) increase in market value of securities available-for-sale (1,041 ) 649 Mortgage servicing rights recognized 2,134 1,652 Loans transferred to real estate and other assets acquired in foreclosure 577 58 Treasury shares reissued for compensation 350 193 Employee Stock Ownership Plan shares released 230 185 |
Note 18 - Regulatory Capital 52
Note 18 - Regulatory Capital Requirements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum Capital Requirement Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) December 31, 2016: Total risk-based capital to risk weighted assets Consolidated $ 72,145 15.36 % $ 37,566 8.00 % $ N/A N/A % Bank 65,630 14.05 37,379 8.00 46,723 10.00 Tier I capital to risk weighted assets Consolidated 57,375 12.22 28,174 6.00 N/A N/A Bank 60,860 13.03 28,034 6.00 37,379 8.00 Common equity tier I capital to risk weighted assets Consolidated 52,724 11.23 21,131 4.50 N/A N/A Bank 60,860 13.03 21,025 4.50 30,370 6.50 Tier 1 capital to adjusted total average assets Consolidated 57,375 8.60 26,683 4.00 N/A N/A Bank 60,860 9.23 26,364 4.00 32,954 5.00 Minimum To Be Well Minimum Capitalized Under Capital Prompt Corrective Actual Requirement Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) December 31, 2015: Total risk-based capital to risk weighted assets Consolidated $ 66,725 15.39 % $ 34,685 8.00 % $ N/A N/A % Bank 60,957 14.09 34,607 8.00 43,259 10.00 Tier I capital to risk weighted assets Consolidated 53,175 12.26 26,014 6.00 N/A N/A Bank 57,407 13.27 25,955 6.00 34,607 8.00 Common equity tier I capital to risk weighted assets Consolidated 48,112 11.10 19,511 4.50 N/A N/A Bank 57,407 13.27 19,466 4.50 28,118 6.50 Tier 1 capital to adjusted total average assets Consolidated 53,175 9.22 23,063 4.00 N/A N/A Bank 57,407 9.36 24,530 4.00 30,662 5.00 |
Computation of Net Capital under Securities and Exchange Commission Regulation [Table Text Block] | December 31, 2016 2015 (In Thousands) Capital determined by GAAP $ 67,610 $ 64,726 Unrealized loss on securities available-for-sale 724 142 Unrealized gain on forward delivery commitments (330 ) (376 ) Goodwill and core deposit intangibles, net of associated deferred tax liabilities (6,490 ) (6,654 ) Disallowed deferred tax assets (654 ) (431 ) Tier I capital 60,860 57,407 Allowance for loan losses 4,770 3,550 Total risk-based capital $ 65,630 $ 60,957 |
Note 20 - Employee Benefits (Ta
Note 20 - Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Activity [Table Text Block] | Number of Shares Unvested awards as of January 1, 2015 37,256 Awards granted 74,000 Awards vested (17,548 ) Awards forfeited - Unvested awards as of December 31, 2015 93,708 Awards granted 2,900 Awards vested (31,945 ) Awards forfeited (395 ) Unvested awards as of December 31, 2016 64,268 |
Note 23 - Fair Value Disclosu54
Note 23 - Fair Value Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | December 31, 2016 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Financial assets: Available-for-sale securities U.S. government and agency $ - $ 5,608 $ - $ 5,608 Municipal obligations - 67,664 - 67,664 Corporate obligations - 9,307 - 9,307 MBSs - government-backed - 29,512 - 29,512 CMOs - government-backed - 16,345 - 16,345 Loans held-for-sale - 18,230 - 18,230 December 31, 2015 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Financial assets: Available-for-sale securities U.S. government and agency $ - $ 10,615 $ - $ 10,615 Municipal obligations - 67,069 - 67,069 Corporate obligations - 9,450 - 9,450 MBSs - government-backed - 32,735 - 32,735 CMOs - government-backed - 25,869 - 25,869 Loans held-for-sale - 18,702 - 18,702 |
Fair Value Measurements, Nonrecurring [Table Text Block] | December 31, 2016 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 649 $ 649 Repossessed assets - - 825 825 December 31, 2015 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 2,028 $ 2,028 Repossessed assets - - 595 595 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | Fair Value at Principal Significant Range of December 31, Valuation Unobservable Significant Input Instrument 2016 2015 Technique Inputs Values (Dollars in Thousands) Impaired loans $ 649 $ 2,028 Appraisal of collateral (1) Appraisal adjustments 10 - 30% Repossessed assets $ 825 $ 595 Appraisal of collateral (1) (3) Liquidation expenses (2) 10 - 30% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2016 Level 1 Level 2 Level 3 Total Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 7,318 $ - $ - $ 7,318 $ 7,318 Federal Home Loan Bank stock 4,012 - - 4,012 4,012 Federal Reserve Bank stock 871 - - 871 871 Loans receivable, net - - 464,797 464,797 460,742 Accrued interest and dividends receivable 2,123 - - 2,123 2,123 Mortgage servicing rights - - 6,741 6,741 5,853 Cash surrender value of life insurance 14,095 - - 14,095 14,095 Financial liabilities: Non-maturing interest bearing deposits - 264,640 - 264,640 264,640 Noninterest bearing deposits 82,877 - - 82,877 82,877 Time certificates of deposit - - 165,129 165,129 165,278 Accrued expenses and other liabilities 4,291 - - 4,291 4,291 Federal Home Loan Bank advances and other borrowings - - 82,462 82,462 82,413 Subordinated debentures - - 14,291 14,291 15,155 Off-balance-sheet instruments Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - December 31, 2015 Level 1 Level 2 Level 3 Total Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 7,438 $ - $ - $ 7,438 $ 7,438 Federal Home Loan Bank stock 3,397 - - 3,397 3,397 Federal Reserve Bank stock 887 - - 887 887 Loans receivable, net - - 408,414 408,414 401,706 Accrued interest and dividends receivable 2,278 - - 2,278 2,278 Mortgage servicing rights - - 6,452 6,452 4,968 Cash surrender value of life insurance 12,514 - - 12,514 12,514 Financial liabilities: Non-maturing interest bearing deposits - 253,704 - 253,704 253,704 Noninterest bearing deposits 77,031 - - 77,031 77,031 Time certificates of deposit - - 152,691 152,691 152,447 Accrued expenses and other liabilities 4,050 - - 4,050 4,050 Federal Home Loan Bank advances and other borrowings - - 72,811 72,811 72,716 Subordinated debentures - - 14,306 14,306 15,155 Off-balance-sheet instruments Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - |
Note 24 - Condensed Parent Co55
Note 24 - Condensed Parent Company Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, 2016 2015 (In Thousands) Assets: Cash and cash equivalents $ 953 $ 243 Securities available-for-sale 3,727 3,810 Investment in Eagle Bancorp Statutory Trust I 155 155 Investment in Opportunity Bank of Montana 67,609 64,726 Other assets 2,003 1,469 Total assets $ 74,447 $ 70,403 Liabilities and Shareholders's Equity: Accounts payable and accrued expenses $ 21 $ 4 Long-term subordinated debt 14,970 14,949 Shareholders' equity 59,456 55,450 Total liabilities and shareholders' equity $ 74,447 $ 70,403 |
Condensed Income Statement [Table Text Block] | Years Ended December 31, 2016 2015 (In Thousands) Interest income $ 98 $ 99 Interest expense (785 ) (448 ) Noninterest income - 14 Noninterest expense (515 ) (593 ) Loss before income taxes (1,202 ) (928 ) Income tax benefit (423 ) (374 ) Loss before equity in undistributed earnings of Opportunity Bank of Montana (779 ) (554 ) Equity in undistributed earnings of Opportunity Bank of Montana 5,911 3,134 Net income $ 5,132 $ 2,580 |
Condensed Cash Flow Statement [Table Text Block] | Years Ended December 31, 2016 2015 (In Thousands) Cash Flows from Operating Activities: Net income $ 5,132 $ 2,580 Adjustments to reconcile net income to net cash used in operating activities: (5,911 ) (3,134 ) Equity in undistributed earnings of Opportunity Bank of Montana Other adjustments, net (415 ) (204 ) Net cash used in operating activities (1,194 ) (758 ) Cash Flows from Investing Activities: Cash contributions from Opportunity Bank of Montana 2,400 1,240 Cash distributions to Opportunity Bank of Montana - (8,000 ) Activity in available-for-sale securities: Sales - 790 Maturities, principal payments and calls 420 330 Purchases (405 ) (1,194 ) Net cash provided by (used in) investing activities 2,415 (6,834 ) Cash Flows from Financing Activities: Employee Stock Ownership Plan payments and dividends 182 174 Proceeds from issuance of subordinated debentures - 10,000 Payments for debt issuance costs - (206 ) Payments to purchase treasury stock - (1,320 ) Treasury shares reissued for compensation 500 204 Dividends paid (1,193 ) (1,164 ) Net cash (used in) provided by financing activities (511 ) 7,688 Net Increase in Cash and Cash Equivalents 710 96 Cash and Cash Equivalents, beginning of period 243 147 Cash and Cash Equivalents, end of period $ 953 $ 243 |
Note 25 - Quarterly Results o56
Note 25 - Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Year Ended December 31, 2016 First Second Third Fourth Quarter Quarter Quarter Quarter (Dollars in Thousands, Except Per Share Data) Interest and dividend income $ 5,618 $ 5,731 $ 6,208 $ 6,354 Interest expense 750 788 787 793 Net interest income 4,868 4,943 5,421 5,561 Loan loss provision 450 459 472 452 Net interest income after loan loss provision 4,418 4,484 4,949 5,109 Noninterest income 2,896 3,806 4,689 4,599 Noninterest expense 6,548 6,686 7,159 7,626 Income before income tax expense 766 1,604 2,479 2,082 Income tax expense 119 340 707 633 Net income $ 647 $ 1,264 $ 1,772 $ 1,449 Other comprehensive income (loss) $ 668 $ 1,461 $ (496 ) $ (2,296 ) Basic earnings per common share $ 0.17 $ 0.34 $ 0.46 $ 0.39 Diluted earnings per common share $ 0.17 $ 0.32 $ 0.46 $ 0.37 Year Ended December 31, 2015 First Second Third Fourth Quarter Quarter Quarter Quarter (Dollars in Thousands, Except Per Share Data) Interest and dividend income $ 4,724 $ 5,015 $ 5,154 $ 5,573 Interest expense 501 526 721 707 Net interest income 4,223 4,489 4,433 4,866 Loan loss provision 322 328 310 343 Net interest income after loan loss provision 3,901 4,161 4,123 4,523 Noninterest income 2,882 3,275 2,912 2,692 Noninterest expense 6,361 6,472 6,492 6,401 Income before income tax expense 422 964 543 814 Income tax expense 36 172 22 (67 ) Net income $ 386 $ 792 $ 521 $ 881 Other comprehensive income (loss) $ 795 $ (1,666 ) $ 975 $ 363 Basic earnings per common share $ 0.10 $ 0.21 $ 0.14 $ 0.23 Diluted earnings per common share $ 0.10 $ 0.21 $ 0.14 $ 0.22 |
Note 1 - Organization and Ope57
Note 1 - Organization and Operations (Details Textual) | Apr. 05, 2010USD ($)$ / sharesshares |
Stock Issued During Period, Shares, New Issues | 2,464,274 |
Share Price | $ / shares | $ 10 |
Proceeds from Issuance Initial Public Offering | $ | $ 24,643,000 |
Shares of Common Stock Received by Existing Stockholders for Each Share of Common Stock Owned Immediately Prior to Completion of The Transaction | 3.8 |
Employee Stock Ownership Plan ESOP Percent of Shares Authorized to be Purchased | 8.00% |
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 197,142 |
Stock Issued During Period, Value, Employee Stock Ownership Plan | $ | $ 1,971,000 |
Note 2 - Summary of Significa58
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2013 | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Jul. 21, 2016 | Jul. 23, 2015 | Jul. 01, 2014 | Dec. 31, 2012 | |
Cash, FDIC Insured Amount | $ 0 | $ 0 | $ 0 | ||||||||
Cash Reserve Deposit Required and Made | $ 676,000 | ||||||||||
Investment in Federal Home Loan Bank Stock, Par Value Per Share | $ 100 | ||||||||||
Investment in Federal Reserve Bank Stock, Par Value Per Share | 100 | ||||||||||
Investment in Federal Reserve Bank Stock, Purchase Price Per Share | $ 50 | ||||||||||
Percentage of Dividend Rate | 6.00% | ||||||||||
Adjustment to Fair Value of Life Insurance | $ 0 | 0 | |||||||||
Income Tax Examination, Penalties and Interest Expense | $ 0 | $ 0 | |||||||||
Treasury Stock, Shares | 303,663 | 271,718 | 303,663 | ||||||||
Advertising Expense | $ 696,000 | $ 800,000 | |||||||||
Goodwill | $ 7,034,000 | $ 7,034,000 | $ 7,034,000 | ||||||||
Sterling [Member] | |||||||||||
Goodwill | $ 7,034,000 | $ 6,890,000 | |||||||||
Goodwill, Purchase Accounting Adjustments | $ 144,000 | ||||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period | 7 years | ||||||||||
Common Stock Repurchase Plan Announced on July 21, 2016 [Member] | |||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100,000 | ||||||||||
Treasury Stock, Shares, Acquired | 0 | ||||||||||
Common Stock Repurchase Plan Announced on July 23, 2015 [Member] | |||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100,000 | ||||||||||
Treasury Stock, Shares, Acquired | 15,000 | 46,065 | |||||||||
Treasury Stock Acquired, Average Cost Per Share | $ 11.75 | $ 11.47 | |||||||||
Common Stock Repurchase Plan Announced on July 1, 2014 [Member] | |||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 200,000 | ||||||||||
Treasury Stock, Shares, Acquired | 55,800 | 55,000 | |||||||||
Treasury Stock Acquired, Average Cost Per Share | $ 11.03 | $ 10.66 | |||||||||
Minimum [Member] | |||||||||||
Property, Plant and Equipment, Useful Life | 3 years | ||||||||||
Maximum [Member] | |||||||||||
Property, Plant and Equipment, Useful Life | 40 years | ||||||||||
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||||||||||
Loan to Appraised Value Percentage | 80.00% | ||||||||||
Federal Home Loan Bank Advances [Member] | |||||||||||
Shares, Outstanding | 33,969 | 40,121 | |||||||||
Federal Reserve Bank Advances [Member] | |||||||||||
Shares, Outstanding | 17,415 | 17,415 | 17,415 |
Note 3 - Earnings Per Share - C
Note 3 - Earnings Per Share - Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Weighted average shares outstanding during the period in which basic earnings per share is calculated (in shares) | 3,784,788 | 3,813,090 | ||||||||
Dilutive effect of stock compensation (in shares) | 88,801 | 46,535 | ||||||||
Average outstanding shares on which diluted earnings per share is calculated (in shares) | 3,873,589 | 3,859,625 | ||||||||
Net income | $ 1,449 | $ 1,772 | $ 1,264 | $ 647 | $ 881 | $ 521 | $ 792 | $ 386 | $ 5,132 | $ 2,580 |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 0.39 | $ 0.46 | $ 0.34 | $ 0.17 | $ 0.23 | $ 0.14 | $ 0.21 | $ 0.10 | $ 1.36 | $ 0.68 |
DILUTED EARNINGS PER SHARE (in dollars per share) | $ 0.37 | $ 0.46 | $ 0.32 | $ 0.17 | $ 0.22 | $ 0.14 | $ 0.21 | $ 0.10 | $ 1.32 | $ 0.67 |
Note 4 - Investment Securitie60
Note 4 - Investment Securities (Details Textual) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Pledged Financial Instruments, Not Separately Reported, Securities | $ 18,626,001 | $ 11,389,000 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 97 | 85 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 70 | 52 |
Available for Sale Securities, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 3.19% | 1.43% |
Corporate Debt Securities [Member] | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 13 | 13 |
Available for Sale Securities, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 1.92% | 1.76% |
Mortgage-backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 14 | 20 |
Available for Sale Securities, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 1.92% | 1.57% |
Note 4 - Investment Securitie61
Note 4 - Investment Securities - Summary of Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Securities available-for-sale, amortized cost | $ 129,687 | $ 145,948 |
Securities available-for-sale, gross unrealized gains | 895 | 1,218 |
Securities available-for-sale, gross unrealized losses | (2,146) | (1,428) |
Securities available-for-sale | 128,436 | 145,738 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 5,673 | 10,684 |
Securities available-for-sale, gross unrealized gains | 7 | 26 |
Securities available-for-sale, gross unrealized losses | (72) | (95) |
Securities available-for-sale | 5,608 | 10,615 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 68,493 | 66,606 |
Securities available-for-sale, gross unrealized gains | 575 | 1,041 |
Securities available-for-sale, gross unrealized losses | (1,404) | (578) |
Securities available-for-sale | 67,664 | 67,069 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 9,454 | 9,615 |
Securities available-for-sale, gross unrealized gains | 15 | |
Securities available-for-sale, gross unrealized losses | (162) | (165) |
Securities available-for-sale | 9,307 | 9,450 |
Mortgage-backed Securities, Government Backed [Member] | ||
Securities available-for-sale, amortized cost | 29,537 | 32,810 |
Securities available-for-sale, gross unrealized gains | 283 | 111 |
Securities available-for-sale, gross unrealized losses | (308) | (186) |
Securities available-for-sale | 29,512 | 32,735 |
Collateralized Mortgage Obligations, Government Backed [Member] | ||
Securities available-for-sale, amortized cost | 16,530 | 26,233 |
Securities available-for-sale, gross unrealized gains | 15 | 40 |
Securities available-for-sale, gross unrealized losses | (200) | (404) |
Securities available-for-sale | $ 16,345 | $ 25,869 |
Note 4 - Investment Securitie62
Note 4 - Investment Securities - Proceeds from Sales of Available-for-sale Securities and the Associated Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Proceeds from sale of available-for-sale securities | $ 23,649 | $ 31,301 |
Gross realized gain on sale of available-for-sale securities | 272 | 534 |
Gross realized loss on sale of available-for-sale securities | (23) | (300) |
Net realized gain on sale of available-for-sale securities | $ 249 | $ 234 |
Note 4 - Investment Securitie63
Note 4 - Investment Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available for sale securities, due in one year or less, amortized cost | $ 1,042 | |
Available for sale securities, due in one year or less, fair value | 1,040 | |
Available for sale securities, due from one to five years, amortized cost | 8,116 | |
Available for sale securities, due from one to five years, fair value | 8,058 | |
Available for sale securities, due from five to ten years, amortized cost | 15,223 | |
Available for sale securities, due from five to ten years, fair value | 15,038 | |
Available for sale securities, due after ten years, amortized cost | 59,239 | |
Available for sale securities, due after ten years, fair value | 58,443 | |
Total available for sale securities debt maturities, amortized cost | 83,620 | |
Total available for sale securities, debt maturities, fair value | 82,579 | |
Securities available-for-sale, amortized cost | 129,687 | $ 145,948 |
Securities available-for-sale | 128,436 | 145,738 |
Mortgage-backed Securities, Government Backed [Member] | ||
Securities available-for-sale, amortized cost | 29,537 | 32,810 |
Securities available-for-sale | 29,512 | 32,735 |
Collateralized Mortgage Obligations, Government Backed [Member] | ||
Securities available-for-sale, amortized cost | 16,530 | 26,233 |
Securities available-for-sale | $ 16,345 | $ 25,869 |
Note 4 - Investment Securitie64
Note 4 - Investment Securities - Investment Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available for sale securities, continuous unrealized loss position less than 12 months, fair value | $ 65,694 | $ 47,533 |
Available for sale securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (1,884) | (485) |
Available for sale securities, continuous unrealized loss position for 12 months or longer, fair value | 13,407 | 44,950 |
Available for sale securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (262) | (943) |
US Government Corporations and Agencies Securities [Member] | ||
Available for sale securities, continuous unrealized loss position less than 12 months, fair value | 4,420 | 3,173 |
Available for sale securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (72) | (24) |
Available for sale securities, continuous unrealized loss position for 12 months or longer, fair value | 0 | 5,986 |
Available for sale securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | 0 | (71) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, continuous unrealized loss position less than 12 months, fair value | 39,786 | 15,913 |
Available for sale securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (1,392) | (132) |
Available for sale securities, continuous unrealized loss position for 12 months or longer, fair value | 634 | 21,163 |
Available for sale securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (12) | (446) |
Corporate Debt Securities [Member] | ||
Available for sale securities, continuous unrealized loss position less than 12 months, fair value | 3,375 | 5,283 |
Available for sale securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (15) | (80) |
Available for sale securities, continuous unrealized loss position for 12 months or longer, fair value | 4,918 | 3,915 |
Available for sale securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (147) | (85) |
Mortgage-backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available for sale securities, continuous unrealized loss position less than 12 months, fair value | 18,113 | 23,164 |
Available for sale securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (405) | (249) |
Available for sale securities, continuous unrealized loss position for 12 months or longer, fair value | 7,855 | 13,886 |
Available for sale securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | $ (103) | $ (341) |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Loans and Leases Receivable, Gross | $ 467,253,000 | $ 408,079,000 | |
Minimum Principal Balance of Loans for Quarterly Rating Review | 750,000 | ||
Loans and Leases Receivable, Allowance | 4,770,000 | 3,550,000 | $ 2,450,000 |
Impaired Financing Receivable, Recorded Investment | 657,000 | 2,076,000 | |
Impaired Financing Receivable, Related Allowance | 8,000 | 48,000 | |
Impaired Financing Receivable, Net Investment | 649,000 | 2,028,000 | |
Affiliated Entity [Member] | |||
Construction Loan | 5,849,000 | 5,849,000 | |
Non-Accrual Status [Member] | |||
Loans and Leases Receivable, Allowance | 8,000 | 48,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross | 214,927,000 | 167,930,000 | |
Loans and Leases Receivable, Allowance | 2,079,000 | 1,593,000 | 1,098,000 |
Impaired Financing Receivable, Recorded Investment | 0 | 667,000 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | United States Department of Agriculture Rural Development [Member] | |||
Loans and Leases Receivable, Gross | 11,586,000 | 12,117,000 | |
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross | 54,706,000 | 39,072,000 | |
Loans and Leases Receivable, Allowance | 797,000 | 454,000 | 317,000 |
Impaired Financing Receivable, Recorded Investment | 0 | 327,000 | |
Impaired Financing Receivable, Related Allowance | $ 0 | 30,000 | |
Commercial Portfolio Segment [Member] | Minimum [Member] | |||
Quarterly Review Criteria, Period of Delinquency on Loans | 60 days | ||
Commercial Portfolio Segment [Member] | Syndicated Loan Facility [Member] | |||
Loans and Leases Receivable, Gross | $ 1,588,000 | 1,917,000 | |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross | 14,800,000 | 14,641,000 | |
Loans and Leases Receivable, Allowance | 193,000 | 66,000 | $ 46,000 |
Impaired Financing Receivable, Recorded Investment | 96,000 | 145,000 | |
Impaired Financing Receivable, Related Allowance | $ 8,000 | $ 11,000 | |
Consumer Portfolio Segment [Member] | Minimum [Member] | |||
Quarterly Review Criteria, Period of Delinquency on Loans | 90 days |
Note 5 - Loans - Summary of Loa
Note 5 - Loans - Summary of Loans Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans receivable | $ 467,253 | $ 408,079 | |
Allowance for loan losses | (4,770) | (3,550) | $ (2,450) |
Deferred loan fees, net | (1,092) | (795) | |
Total loans, net | 461,391 | 403,734 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 113,262 | 118,133 | |
Allowance for loan losses | (997) | (911) | (684) |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 214,927 | 167,930 | |
Allowance for loan losses | (2,079) | (1,593) | (1,098) |
Real Estate Construction Portfolio Segment [Member] | |||
Loans receivable | 20,540 | 22,958 | |
Allowance for loan losses | (244) | (184) | (35) |
Home Equity Portfolio Segment [Member] | |||
Loans receivable | 49,018 | 45,345 | |
Allowance for loan losses | (460) | (342) | (270) |
Consumer Portfolio Segment [Member] | |||
Loans receivable | 14,800 | 14,641 | |
Allowance for loan losses | (193) | (66) | (46) |
Commercial Portfolio Segment [Member] | |||
Loans receivable | 54,706 | 39,072 | |
Allowance for loan losses | $ (797) | $ (454) | $ (317) |
Note 5 - Loans - Nonperforming
Note 5 - Loans - Nonperforming Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Non-accrual loans | $ 614 | $ 2,030 | |
Accruing loans delinquent 90 days or more | 495 | 472 | |
Restructured loans, net | 43 | 46 | |
Total nonperforming loans | 1,152 | 2,548 | |
Real estate and other repossessed assets acquired in settlement of loans, net | 825 | 595 | |
Total nonperforming assets | $ 1,977 | $ 3,143 | |
Total nonperforming assets as a percentage of total assets | 0.29% | 0.50% | |
Loans and Leases Receivable, Allowance | $ 4,770 | $ 3,550 | $ 2,450 |
Percent of allowance for loan losses to nonperforming loans | 414.06% | 139.32% | |
Percent of allowance for loan losses to nonperforming assets | 241.27% | 112.95% |
Note 5 - Loans - Allowance for
Note 5 - Loans - Allowance for Loan Losses Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Allowance for loan losses, beginning balance | $ 3,550 | $ 2,450 | $ 3,550 | $ 2,450 | ||||||
Charge-offs | (632) | (223) | ||||||||
Recoveries | 19 | 20 | ||||||||
Loan loss provision | $ 452 | $ 472 | $ 459 | 450 | $ 343 | $ 310 | $ 328 | 322 | 1,833 | 1,303 |
Allowance for loan losses, ending balance | 4,770 | 3,550 | 4,770 | 3,550 | ||||||
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 8 | 48 | 8 | 48 | ||||||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 4,762 | 3,502 | 4,762 | 3,502 | ||||||
Loans receivable, total | 467,253 | 408,079 | 467,253 | 408,079 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 657 | 2,076 | 657 | 2,076 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 466,596 | 406,003 | 466,596 | 406,003 | ||||||
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||||||||||
Allowance for loan losses, beginning balance | 911 | 684 | 911 | 684 | ||||||
Charge-offs | (4) | (137) | ||||||||
Recoveries | 0 | 0 | ||||||||
Loan loss provision | 90 | 364 | ||||||||
Allowance for loan losses, ending balance | 997 | 911 | 997 | 911 | ||||||
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | ||||||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 997 | 911 | 997 | 911 | ||||||
Loans receivable, total | 113,262 | 118,133 | 113,262 | 118,133 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 221 | 730 | 221 | 730 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 113,041 | 117,403 | 113,041 | 117,403 | ||||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Allowance for loan losses, beginning balance | 1,593 | 1,098 | 1,593 | 1,098 | ||||||
Charge-offs | (298) | 0 | ||||||||
Recoveries | 0 | 0 | ||||||||
Loan loss provision | 784 | 495 | ||||||||
Allowance for loan losses, ending balance | 2,079 | 1,593 | 2,079 | 1,593 | ||||||
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | ||||||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 2,079 | 1,593 | 2,079 | 1,593 | ||||||
Loans receivable, total | 214,927 | 167,930 | 214,927 | 167,930 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 0 | 667 | 0 | 667 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 214,927 | 167,263 | 214,927 | 167,263 | ||||||
Real Estate Construction Portfolio Segment [Member] | ||||||||||
Allowance for loan losses, beginning balance | 184 | 35 | 184 | 35 | ||||||
Charge-offs | 0 | 0 | ||||||||
Recoveries | 0 | 0 | ||||||||
Loan loss provision | 60 | 149 | ||||||||
Allowance for loan losses, ending balance | 244 | 184 | 244 | 184 | ||||||
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | ||||||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 244 | 184 | 244 | 184 | ||||||
Loans receivable, total | 20,540 | 22,958 | 20,540 | 22,958 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 0 | 0 | 0 | 0 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 20,540 | 22,958 | 20,540 | 22,958 | ||||||
Home Equity Portfolio Segment [Member] | ||||||||||
Allowance for loan losses, beginning balance | 342 | 270 | 342 | 270 | ||||||
Charge-offs | (7) | 0 | ||||||||
Recoveries | 0 | 1 | ||||||||
Loan loss provision | 125 | 71 | ||||||||
Allowance for loan losses, ending balance | 460 | 342 | 460 | 342 | ||||||
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 7 | 0 | 7 | ||||||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 460 | 335 | 460 | 335 | ||||||
Loans receivable, total | 49,018 | 45,345 | 49,018 | 45,345 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 340 | 207 | 340 | 207 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 48,678 | 45,138 | 48,678 | 45,138 | ||||||
Consumer Portfolio Segment [Member] | ||||||||||
Allowance for loan losses, beginning balance | 66 | 46 | 66 | 46 | ||||||
Charge-offs | (204) | (61) | ||||||||
Recoveries | 19 | 18 | ||||||||
Loan loss provision | 312 | 63 | ||||||||
Allowance for loan losses, ending balance | 193 | 66 | 193 | 66 | ||||||
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 8 | 11 | 8 | 11 | ||||||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 185 | 55 | 185 | 55 | ||||||
Loans receivable, total | 14,800 | 14,641 | 14,800 | 14,641 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 96 | 145 | 96 | 145 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 14,704 | 14,496 | 14,704 | 14,496 | ||||||
Commercial Portfolio Segment [Member] | ||||||||||
Allowance for loan losses, beginning balance | $ 454 | $ 317 | 454 | 317 | ||||||
Charge-offs | (119) | (25) | ||||||||
Recoveries | 0 | 1 | ||||||||
Loan loss provision | 462 | 161 | ||||||||
Allowance for loan losses, ending balance | 797 | 454 | 797 | 454 | ||||||
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 30 | 0 | 30 | ||||||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 797 | 424 | 797 | 424 | ||||||
Loans receivable, total | 54,706 | 39,072 | 54,706 | 39,072 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 0 | 327 | 0 | 327 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | $ 54,706 | $ 38,745 | $ 54,706 | $ 38,745 |
Note 5 - Loans - Internal Class
Note 5 - Loans - Internal Classification of the Loan Portfolio (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loans receivable | $ 467,253 | $ 408,079 |
Performing Financial Instruments [Member] | ||
Loans receivable | 466,101 | 405,531 |
Restructured Loans [Member] | ||
Loans receivable | 43 | 46 |
Nonperforming Financial Instruments [Member] | ||
Loans receivable | 1,109 | 2,502 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Loans receivable | 113,262 | 118,133 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 112,585 | 117,182 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Restructured Loans [Member] | ||
Loans receivable | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Nonperforming Financial Instruments [Member] | ||
Loans receivable | 677 | 951 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 214,927 | 167,930 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 214,923 | 167,259 |
Commercial Real Estate Portfolio Segment [Member] | Restructured Loans [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans receivable | 4 | 671 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans receivable | 20,540 | 22,958 |
Real Estate Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 20,540 | 22,711 |
Real Estate Construction Portfolio Segment [Member] | Restructured Loans [Member] | ||
Loans receivable | 0 | 0 |
Real Estate Construction Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans receivable | 0 | 247 |
Home Equity Portfolio Segment [Member] | ||
Loans receivable | 49,018 | 45,345 |
Home Equity Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 48,643 | 45,138 |
Home Equity Portfolio Segment [Member] | Restructured Loans [Member] | ||
Loans receivable | 43 | 46 |
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans receivable | 332 | 161 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 14,800 | 14,641 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 14,704 | 14,496 |
Consumer Portfolio Segment [Member] | Restructured Loans [Member] | ||
Loans receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans receivable | 96 | 145 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 54,706 | 39,072 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 54,706 | 38,745 |
Commercial Portfolio Segment [Member] | Restructured Loans [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans receivable | 0 | 327 |
Pass [Member] | ||
Loans receivable | 464,894 | 404,411 |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Loans receivable | 112,524 | 116,711 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 214,476 | 167,263 |
Pass [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans receivable | 20,084 | 22,176 |
Pass [Member] | Home Equity Portfolio Segment [Member] | ||
Loans receivable | 48,643 | 45,100 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 14,697 | 14,486 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 54,470 | 38,675 |
Special Mention [Member] | ||
Loans receivable | 456 | 0 |
Special Mention [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans receivable | 456 | 0 |
Special Mention [Member] | Home Equity Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | ||
Loans receivable | 1,895 | 3,534 |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Loans receivable | 738 | 1,422 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 451 | 667 |
Substandard [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans receivable | 0 | 782 |
Substandard [Member] | Home Equity Portfolio Segment [Member] | ||
Loans receivable | 375 | 156 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 95 | 140 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 236 | 367 |
Doubtful [Member] | ||
Loans receivable | 0 | 86 |
Doubtful [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Home Equity Portfolio Segment [Member] | ||
Loans receivable | 0 | 82 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 0 | 4 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans receivable | 8 | 48 |
Unlikely to be Collected Financing Receivable [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Loans receivable | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Home Equity Portfolio Segment [Member] | ||
Loans receivable | 0 | 7 |
Unlikely to be Collected Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 8 | 11 |
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | $ 0 | $ 30 |
Note 5 - Loans - Impaired Loans
Note 5 - Loans - Impaired Loans (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Related allowance | $ 8,000 | $ 48,000 |
Recorded investment | 657,000 | 2,076,000 |
Unpaid principal balance | 754,000 | 2,110,000 |
Average recorded investment | 1,367,000 | 2,080,000 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Recorded investment, with no related allowance | 221,000 | 730,000 |
Unpaid principal balance, with no related allowance | 221,000 | 730,000 |
Average recorded investment, with no related allowance | 476,000 | 690,000 |
Recorded investment, with a related allowance | 0 | 0 |
Unpaid principal balance, with a related allowance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment, with related allowance | 0 | 411,000 |
Recorded investment | 221,000 | 730,000 |
Unpaid principal balance | 221,000 | 730,000 |
Average recorded investment | 476,000 | 1,101,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 0 | 667,000 |
Unpaid principal balance, with no related allowance | 0 | 667,000 |
Average recorded investment, with no related allowance | 334,000 | 334,000 |
Recorded investment, with a related allowance | 0 | 0 |
Unpaid principal balance, with a related allowance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment, with related allowance | 0 | 0 |
Recorded investment | 0 | 667,000 |
Unpaid principal balance | 0 | 667,000 |
Average recorded investment | 334,000 | 334,000 |
Real Estate Construction Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 0 | 0 |
Unpaid principal balance, with no related allowance | 0 | 0 |
Average recorded investment, with no related allowance | 0 | 0 |
Recorded investment, with a related allowance | 0 | 0 |
Unpaid principal balance, with a related allowance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment, with related allowance | 0 | 0 |
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average recorded investment | 0 | 0 |
Home Equity Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 340,000 | 200,000 |
Unpaid principal balance, with no related allowance | 390,000 | 234,000 |
Average recorded investment, with no related allowance | 270,000 | 264,000 |
Recorded investment, with a related allowance | 0 | 7,000 |
Unpaid principal balance, with a related allowance | 0 | 7,000 |
Related allowance | 0 | 7,000 |
Average recorded investment, with related allowance | 3,000 | 3,000 |
Recorded investment | 340,000 | 207,000 |
Unpaid principal balance | 390,000 | 241,000 |
Average recorded investment | 273,000 | 267,000 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 88,000 | 134,000 |
Unpaid principal balance, with no related allowance | 135,000 | 134,000 |
Average recorded investment, with no related allowance | 111,000 | 91,000 |
Recorded investment, with a related allowance | 8,000 | 11,000 |
Unpaid principal balance, with a related allowance | 8,000 | 11,000 |
Related allowance | 8,000 | 11,000 |
Average recorded investment, with related allowance | 10,000 | 9,000 |
Recorded investment | 96,000 | 145,000 |
Unpaid principal balance | 143,000 | 145,000 |
Average recorded investment | 121,000 | 100,000 |
Commercial Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 0 | 297,000 |
Unpaid principal balance, with no related allowance | 0 | 297,000 |
Average recorded investment, with no related allowance | 148,000 | 263,000 |
Recorded investment, with a related allowance | 0 | 30,000 |
Unpaid principal balance, with a related allowance | 0 | 30,000 |
Related allowance | 0 | 30,000 |
Average recorded investment, with related allowance | 15,000 | 15,000 |
Recorded investment | 0 | 327,000 |
Unpaid principal balance | 0 | 327,000 |
Average recorded investment | $ 163,000 | $ 278,000 |
Note 5 - Loans - Delinquencies
Note 5 - Loans - Delinquencies Within the Loan Portfolio (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Past due | $ 3,380 | $ 5,180 |
Current | 463,873 | 402,899 |
Loans receivable | 467,253 | 408,079 |
Recorded investment > 90 days and still accruing | 495 | 472 |
Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 2,271 | 2,678 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 1,109 | 2,502 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Past due | 1,652 | 2,114 |
Current | 111,610 | 116,019 |
Loans receivable | 113,262 | 118,133 |
Recorded investment > 90 days and still accruing | 456 | 221 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 975 | 1,163 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 677 | 951 |
Commercial Real Estate Portfolio Segment [Member] | ||
Past due | 517 | 848 |
Current | 214,410 | 167,082 |
Loans receivable | 214,927 | 167,930 |
Recorded investment > 90 days and still accruing | 4 | 4 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 513 | 177 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 4 | 671 |
Real Estate Construction Portfolio Segment [Member] | ||
Past due | 0 | 909 |
Current | 20,540 | 22,049 |
Loans receivable | 20,540 | 22,958 |
Recorded investment > 90 days and still accruing | 0 | 247 |
Real Estate Construction Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 0 | 662 |
Real Estate Construction Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 247 |
Home Equity Portfolio Segment [Member] | ||
Past due | 697 | 480 |
Current | 48,321 | 44,865 |
Loans receivable | 49,018 | 45,345 |
Recorded investment > 90 days and still accruing | 35 | 0 |
Home Equity Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 365 | 319 |
Home Equity Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 332 | 161 |
Consumer Portfolio Segment [Member] | ||
Past due | 265 | 329 |
Current | 14,535 | 14,312 |
Loans receivable | 14,800 | 14,641 |
Recorded investment > 90 days and still accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 169 | 184 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 96 | 145 |
Commercial Portfolio Segment [Member] | ||
Past due | 249 | 500 |
Current | 54,457 | 38,572 |
Loans receivable | 54,706 | 39,072 |
Recorded investment > 90 days and still accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 249 | 173 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | $ 0 | $ 327 |
Note 5 - Loans - Loans Receivab
Note 5 - Loans - Loans Receivable from Directors and Senior Officers and their Related Parties (Details) - Directors, Senior Officers and their Related Parties [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning balance | $ 2,376 | $ 7,435 |
Principal additions | 726 | 1,073 |
Principal payments | (688) | (6,132) |
Ending balance | 2,414 | 2,376 |
Loans serviced, for the benefit of others, for directors, senior officers and their related parties | 1,327 | 1,220 |
Interest income from loans owned for directors, senior officers and their related parties | $ 45 | $ 14 |
Note 6 - Troubled Debt Restru73
Note 6 - Troubled Debt Restructurings (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Receivables, Change in Method of Calculating Impairment, Recorded Investment | $ 43,000 | |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 34,000 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | |
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 |
Note 6 - Troubled Debt Restru74
Note 6 - Troubled Debt Restructurings - Summary of Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Troubled debt restructuring | $ 43 | $ 46 |
Accrual Status [Member] | ||
Troubled debt restructuring | 43 | 46 |
Non-Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Troubled debt restructuring | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Non-Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Troubled debt restructuring | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Real Estate Construction Portfolio Segment [Member] | ||
Troubled debt restructuring | 0 | 0 |
Real Estate Construction Portfolio Segment [Member] | Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Real Estate Construction Portfolio Segment [Member] | Non-Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Home Equity Portfolio Segment [Member] | ||
Troubled debt restructuring | 43 | 46 |
Home Equity Portfolio Segment [Member] | Accrual Status [Member] | ||
Troubled debt restructuring | 43 | 46 |
Home Equity Portfolio Segment [Member] | Non-Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Troubled debt restructuring | 0 | 0 |
Consumer Portfolio Segment [Member] | Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Consumer Portfolio Segment [Member] | Non-Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Troubled debt restructuring | 0 | 0 |
Commercial Portfolio Segment [Member] | Accrual Status [Member] | ||
Troubled debt restructuring | 0 | 0 |
Commercial Portfolio Segment [Member] | Non-Accrual Status [Member] | ||
Troubled debt restructuring | $ 0 | $ 0 |
Note 7 - Foreclosed Assets - Sc
Note 7 - Foreclosed Assets - Schedule of Foreclosed Assets Net of Allowance for Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Real estate and other repossessed assets acquired in settlement of loans, net | $ 825 | $ 595 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Real estate and other repossessed assets acquired in settlement of loans, net | 202 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Real estate and other repossessed assets acquired in settlement of loans, net | 603 | 595 |
Consumer Portfolio Segment [Member] | ||
Real estate and other repossessed assets acquired in settlement of loans, net | $ 20 | $ 0 |
Note 7 - Foreclosed Assets - 76
Note 7 - Foreclosed Assets - Schedule of Expenses Applicable to Foreclosed Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Net gain (loss) on sale of real estate owned and other repossessed property | $ 6 | $ (13) |
Operating expenses net of rental income | (33) | (23) |
Expenses related to foreclosed assets, net | $ (27) | $ (36) |
Note 8 - Mortgage Servicing R77
Note 8 - Mortgage Servicing Rights (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Loans Serviced During the Period | $ 808,898,000 | $ 693,343,000 |
Escrow Deposit | 4,775,000 | 4,171,000 |
Mortgage Servicing Rights Measured at Fair Value | $ 6,741,000 | $ 6,452,000 |
Minimum [Member] | ||
Fair Value Inputs, Discount Rate | 13.00% | |
Fair Value Inputs, Prepayment Rate | 104.00% | |
Minimum [Member] | Mortgage Servicing Rights [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 13.00% | |
Maximum [Member] | ||
Fair Value Inputs, Discount Rate | 15.00% | |
Fair Value Inputs, Prepayment Rate | 277.00% | |
Maximum [Member] | Mortgage Servicing Rights [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 15.00% | |
Maximum [Member] | Mortgage Servicing Rights [Member] | Private Investors [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 1.00% | |
Maximum [Member] | Mortgage Servicing Rights [Member] | Agency Investors [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 1.25% |
Note 8 - Mortgage Servicing R78
Note 8 - Mortgage Servicing Rights - Schedule of Activity in Mortgage Servicing Rights and the Valuation Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning balance | $ 4,968 | $ 4,115 |
Mortgage servicing rights recognized | 2,134 | 1,652 |
Amortization of mortgage servicing rights | (1,249) | (799) |
Ending balance | 5,853 | 4,968 |
Beginning balance | 0 | 0 |
Provision (credited) to operations | 0 | 0 |
Ending balance | 0 | 0 |
Mortgage servicing rights, net | $ 5,853 | $ 4,968 |
Note 9 - Premises and Equipme79
Note 9 - Premises and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation | $ 1,058,000 | $ 1,231,000 |
Note 9 - Premises and Equipme80
Note 9 - Premises and Equipment - Schedule of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Premises and equipment, gross | $ 31,329 | $ 29,123 |
Accumulated depreciation | (11,936) | (10,906) |
Premises and equipment, net | 19,393 | 18,217 |
Land [Member] | ||
Premises and equipment, gross | 4,086 | 3,803 |
Building and Building Improvements [Member] | ||
Premises and equipment, gross | 20,832 | 19,055 |
Furniture and Fixtures [Member] | ||
Premises and equipment, gross | 6,300 | 6,035 |
Construction in Progress [Member] | ||
Premises and equipment, gross | $ 111 | $ 230 |
Note 10 - Goodwill and Other 81
Note 10 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Amortization of Intangible Assets | $ 445,000 | $ 432,000 |
Core Deposits [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 10 years | |
Amortization of Intangible Assets | $ 130,000 | $ 149,000 |
Note 10 - Goodwill and Other 82
Note 10 - Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Goodwill | $ 7,034 | $ 7,034 |
Note 10 - Goodwill and Other 83
Note 10 - Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Total | $ 384 | $ 514 |
Core Deposits [Member] | ||
Gross intangible assets | 1,031 | 1,031 |
Accumulated amortization | (647) | (517) |
Total | $ 384 | $ 514 |
Note 10 - Goodwill and Other 84
Note 10 - Goodwill and Other Intangible Assets - Core Deposit Intangible Assets Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Total | $ 384 | $ 514 |
Core Deposits [Member] | ||
2,017 | 111 | |
2,018 | 92 | |
2,019 | 73 | |
2,020 | 55 | |
2,021 | 36 | |
Thereafter | 17 | |
Total | $ 384 | $ 514 |
Note 11 - Deposits (Details Tex
Note 11 - Deposits (Details Textual) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Time Deposits | $ 165,278,000 | $ 152,447,000 |
Time Deposits, at or Above FDIC Insurance Limit | 111,049,000 | |
Deposit Liabilities Reclassified as Loans Receivable | 51,000 | 75,000 |
Deposits | 512,795,000 | 483,182,000 |
Directors, Senior Officers and their Related Parties [Member] | ||
Deposits | 1,390,000 | 983,000 |
Brokered Deposits [Member] | ||
Time Deposits | 15,596,000 | 7,071,000 |
Certificates of Deposit [Member] | ||
Time Deposits, at or Above FDIC Insurance Limit | $ 45,363,000 | $ 24,443,000 |
Note 11 - Deposits - Summary of
Note 11 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Noninterest checking | $ 82,877 | $ 77,031 |
Noninterest checking | 0.00% | 0.00% |
Interest bearing checking | $ 93,163 | $ 87,350 |
Interest bearing checking | 0.03% | 0.03% |
Savings | $ 82,266 | $ 71,474 |
Savings | 0.04% | 0.04% |
Money market | $ 89,211 | $ 94,880 |
Money market | 0.11% | 0.12% |
Time Deposits | $ 165,278 | $ 152,447 |
Time certificates of deposits | 0.84% | 0.92% |
Deposits | $ 512,795 | $ 483,182 |
Total | 0.30% | 0.32% |
Note 11 - Deposits - Schedule o
Note 11 - Deposits - Schedule of Maturities of Time Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Within one year | $ 116,561 | |
One to two years | 32,039 | |
Two to three years | 8,182 | |
Three to four years | 4,546 | |
Thereafter | 3,950 | |
Total | $ 165,278 | $ 152,447 |
Note 11 - Deposits - Interest E
Note 11 - Deposits - Interest Expense on Deposits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Checking | $ 27 | $ 27 |
Savings | 30 | 30 |
Money market | 101 | 107 |
Time certificates of deposits | 1,360 | 1,293 |
Total | $ 1,518 | $ 1,457 |
Note 12 - Advances From the F89
Note 12 - Advances From the Federal Home Loan Bank and Other Borrowings (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 30, 2016 | |
Federal Home Loan Bank Advances Funding Available as Percent of Assets | 35.00% | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $ 234,217,000 | ||
Advances from Federal Home Loan Banks | 81,548,000 | $ 68,261,000 | |
Pledged Financial Instruments, Not Separately Reported, Securities for Other Debt Facilities | 0 | 0 | |
Federal Reserve Bank Advances | $ 0 | $ 0 | |
Debt, Weighted Average Interest Rate | 1.10% | 1.05% | |
Short-term Debt, Average Outstanding Amount | $ 78,894,000 | $ 51,367,000 | |
Short-term Debt, Maximum Month-end Outstanding Amount | 92,436,000 | 72,716,000 | |
PNC Bank [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 7,000,000 | ||
Federal Funds Purchased | 0 | 0 | |
Zions Bank [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000,000 | ||
Federal Funds Purchased | 0 | 0 | |
Stockman Bank [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 7,000,000 | ||
Federal Funds Purchased | 0 | 3,590,000 | |
PCBB [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000,000 | ||
Federal Funds Purchased | $ 0 | ||
New Markets Tax Credit Loan [Member] | |||
Other Borrowings | $ 865,000 | $ 865,000 | |
Debt Instrument, Interest Rate During Period | 1.00% |
Note 12 - Advances From the F90
Note 12 - Advances From the Federal Home Loan Bank and Other Borrowings - Schedule of Maturities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Within one year | $ 55,406 | |
One to two years | 12,767 | |
Two to three years | 10,649 | |
Three to four years | 3,446 | |
Four to five years | 145 | |
Thereafter | ||
Total | $ 82,413 | $ 72,716 |
Note 13 - Subordinated Debent91
Note 13 - Subordinated Debentures (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2005 | |
Debt Instrument, Face Amount | $ 15,155,000 | $ 15,155,000 | ||
Subordinated Debt | 14,970,000 | 14,949,000 | ||
Interest Expense, Subordinated Notes and Debentures | $ 785,000 | $ 448,000 | ||
Eagle Bancorp Statutory Trust I [Member] | ||||
Subordinated Debt | $ 5,155,000 | |||
Eagle Bancorp Statutory Trust I [Member] | Subordinated Debt [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 6.02% | |||
Eagle Bancorp Statutory Trust I [Member] | Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 2.418% | 2.033% | ||
Eagle Bancorp Statutory Trust I [Member] | Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.42% | |||
First Tennessee Bank, N.A. [Member] | ||||
Temporary Equity, Liquidation Preference | $ 5,155,000 | |||
Trust Preferred Securities, Maximum Dividend Deferring Period | 5 years | |||
Trust Preferred Securities, Maturity Month and Year | 2035-12 | |||
6.75% Subordinated Notes Due in 2025 [Member] | ||||
Debt Instrument, Face Amount | $ 10,000,000 | $ 10,000,000 | $ 10,000,000 | |
Debt Instrument, Maturity Year | 2,025 | 2,025 | 2,025 | |
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | 6.75% | 6.75% |
Note 13 - Subordinated Debent92
Note 13 - Subordinated Debentures - Summary of Subordinated Debentures (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Principal amount | $ 15,155,000 | $ 15,155,000 | |
Unamortized debt issuance costs | (185,000) | (206,000) | |
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | |||
Principal amount | 5,155,000 | 5,155,000 | |
Unamortized debt issuance costs | 0 | 0 | |
6.75% Subordinated Notes Due in 2025 [Member] | |||
Principal amount | 10,000,000 | 10,000,000 | $ 10,000,000 |
Unamortized debt issuance costs | $ (185,000) | $ (206,000) |
Note 13 - Subordinated Debent93
Note 13 - Subordinated Debentures - Summary of Subordinated Debentures (Details) (Parentheticals) | 1 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | |||
Debt instrument, interest rate above LIBOR rate | 1.42% | 1.42% | |
Debt instrument, maturity year | 2,035 | 2,035 | |
6.75% Subordinated Notes Due in 2025 [Member] | |||
Debt instrument, maturity year | 2,025 | 2,025 | 2,025 |
Debt instrument, fixed interest rate | 6.75% | 6.75% | 6.75% |
Note 14 - Commitments and Con94
Note 14 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Leases, Rent Expense, Net | $ 473,000 | $ 559,000 |
Note 14 - Commitments and Con95
Note 14 - Commitments and Contingencies - Schedule of Future Payments of Lease Obligations (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 427 |
2,018 | 393 |
2,019 | 375 |
2,020 | 332 |
2,021 | 242 |
Thereafter | 93 |
Total | $ 1,862 |
Note 15 - Accumulated Other C96
Note 15 - Accumulated Other Comprehensive Income (Loss) - Activity in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning balance | $ 252 | $ (215) | $ 252 | $ (215) | ||||||
Other comprehensive income (loss), before reclassifications and income taxes | 2,069 | 2,929 | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (3,187) | (2,141) | ||||||||
Income tax benefit (expense) | 455 | (321) | ||||||||
Total other comprehensive (loss) income | $ (2,296) | $ (496) | $ 1,461 | 668 | $ 363 | $ 975 | $ (1,666) | 795 | (663) | 467 |
Ending balance | (411) | 252 | (411) | 252 | ||||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||||||
Beginning balance | 376 | 294 | 376 | 294 | ||||||
Other comprehensive income (loss), before reclassifications and income taxes | 2,861 | 2,046 | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (2,938) | (1,907) | ||||||||
Income tax benefit (expense) | 31 | (57) | ||||||||
Total other comprehensive (loss) income | (46) | 82 | ||||||||
Ending balance | 330 | 376 | 330 | 376 | ||||||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||||||||
Beginning balance | $ (124) | $ (509) | (124) | (509) | ||||||
Other comprehensive income (loss), before reclassifications and income taxes | (792) | 883 | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (249) | (234) | ||||||||
Income tax benefit (expense) | 424 | (264) | ||||||||
Total other comprehensive (loss) income | (617) | 385 | ||||||||
Ending balance | $ (741) | $ (124) | $ (741) | $ (124) |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Tax Credit Carryforward, Amount | $ 2,964,000 |
Tax Exemption Period | 7 years |
Investment Tax Credit | $ 1,824,000 |
Deferred Investment Tax Credit Utilized | 1,200,000 |
Deferred Tax Assets, Tax Credit Carryforwards | $ 624,000 |
Note 16 - Income Taxes - Schedu
Note 16 - Income Taxes - Schedule of Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
U.S. federal | $ 1,369 | $ 424 | ||||||||
Montana | 450 | 83 | ||||||||
1,819 | 507 | |||||||||
U.S. federal | (13) | (426) | ||||||||
Montana | (7) | 82 | ||||||||
(20) | (344) | |||||||||
Total | $ 633 | $ 707 | $ 340 | $ 119 | $ (67) | $ 22 | $ 172 | $ 36 | $ 1,799 | $ 163 |
Note 16 - Income Taxes - Net De
Note 16 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Loans receivable | $ 1,805 | $ 1,204 |
Deferred loan fees | 500 | 381 |
Deferred compensation | 786 | 698 |
Employee benefits | 419 | 321 |
Unrealized losses on securities available-for-sale | 510 | 86 |
Acquisition costs | 580 | 633 |
New Market Tax Credits carry forward | 624 | 633 |
Alternative Minimum Tax carry forward | 466 | 445 |
Other | 245 | 267 |
Total deferred tax assets | 5,935 | 4,668 |
Deferred tax liabilities: | ||
Premises and equipment | 821 | 931 |
Federal Home Loan Bank stock | 551 | 529 |
Mortgage servicing rights | 1,230 | 595 |
Unrealized gains on hedging | 228 | 259 |
Goodwill | 776 | 585 |
Other | 364 | 279 |
Total deferred tax liabilities | 3,970 | 3,178 |
Net deferred tax asset | $ 1,965 | $ 1,490 |
Note 16 - Income Taxes - Reconc
Note 16 - Income Taxes - Reconciliation of Effective Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Federal income taxes at the statutory rate | $ 2,357 | $ 933 | ||||||||
Federal income taxes at the statutory rate | 34.00% | 34.00% | ||||||||
State income taxes | $ 468 | $ 185 | ||||||||
State income taxes | 6.75% | 6.75% | ||||||||
Tax-exempt interest income | $ (458) | $ (440) | ||||||||
Tax-exempt interest income | (6.61%) | (16.03%) | ||||||||
Income from bank-owned life insurance | $ (235) | $ (174) | ||||||||
Income from bank-owned life insurance | (3.39%) | (6.33%) | ||||||||
New Market Tax Credits | $ (456) | $ (418) | ||||||||
New Market Tax Credits | (6.58%) | (15.24%) | ||||||||
Other, net | $ 123 | $ 77 | ||||||||
Other, net | 1.79% | 2.79% | ||||||||
Income tax benefit | $ 633 | $ 707 | $ 340 | $ 119 | $ (67) | $ 22 | $ 172 | $ 36 | $ 1,799 | $ 163 |
Actual tax benefit and effective tax rate | 25.96% | 5.94% |
Note 17 - Supplemental Cash 101
Note 17 - Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Supplemental cash flow information: | ||
Cash paid during the year for interest | $ 3,129 | $ 2,442 |
Cash paid during the year for income taxes | 1,640 | 845 |
Non-cash investing and financing activities: | ||
(Decrease) increase in market value of securities available-for-sale | (1,041) | 649 |
Mortgage servicing rights recognized | 2,134 | 1,652 |
Loans transferred to real estate and other assets acquired in foreclosure | 577 | 58 |
Treasury shares reissued for compensation | 350 | 193 |
Employee Stock Ownership Plan shares released | $ 230 | $ 185 |
Note 18 - Regulatory Capital102
Note 18 - Regulatory Capital Requirements (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | $ 2,400,000 | $ 1,240,000 | ||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.08 | $ 0.08 | $ 0.0775 | $ 0.0775 | $ 0.0775 | $ 0.0775 | $ 0.075 | $ 0.075 |
Note 18 - Regulatory Capital103
Note 18 - Regulatory Capital Requirements - Schedule of the Bank's Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Total risk-based capital to risk weighted assets, actual, amount | $ 72,145 | $ 66,725 |
Total risk-based capital to risk weighted assets, actual, ratio | 15.36% | 15.39% |
Total risk-based capital to risk weighted assets, minimum capital requirement, amount | $ 37,566 | $ 34,685 |
Total risk-based capital to risk weighted assets, minimum capital requirement, ratio | 8.00% | 8.00% |
Total risk-based capital to risk weighted assets, minimum to be well capitalized, amount | ||
Total risk-based capital to risk weighted assets, minimum to be well capitalized, ratio | ||
Tier 1 Capital to risk weighted assets, actual amount | $ 57,375 | $ 53,175 |
Tier 1 Capital to risk weighted assets, actual ratio | 12.22% | 12.26% |
Tier 1 Capital to risk weighted assets, minimum capital requirement, amount | $ 28,174 | $ 26,014 |
Tier 1 Capital to risk weighted assets, minimum capital requirement, ratio | 6.00% | 6.00% |
Tier 1 Capital to risk weighted assets, minimum to be well capitalized, amount | ||
Tier 1 Capital to risk weighted assets, minimum to be well capitalized, ratio | ||
Common equity tier 1 capital to risk weighted assets, actual, amount | $ 52,724 | $ 48,112 |
Common equity tier 1 capital to risk weighted assets, actual, ratio | 11.23% | 11.10% |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, amount | $ 21,131 | $ 19,511 |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, ratio | 4.50% | 4.50% |
Common equity tier 1 capital to risk weighted assets, minimum to be well capitalized, amount | ||
Common equity tier 1 capital to risk weighted assets, minimum to be well capitalized, ratio | ||
Tier 1 Capital to adjusted total average assets, actual, amount | $ 57,375 | $ 53,175 |
Tier 1 Capital to adjusted total average assets, actual, ratio | 8.60% | 9.22% |
Tier 1 Capital to adjusted total average assets, minimum capital requirement, actual | $ 26,683 | $ 23,063 |
Tier 1 Capital to adjusted total average assets, minimum capital requirement, ratio | 4.00% | 4.00% |
Tier 1 Capital to adjusted total average assets, minimum to be well capitalized, amount | ||
Tier 1 Capital to adjusted total average assets, minimum to be well capitalized, ratio | ||
Parent Company [Member] | ||
Total risk-based capital to risk weighted assets, actual, amount | $ 65,630 | $ 60,957 |
Total risk-based capital to risk weighted assets, actual, ratio | 14.05% | 14.09% |
Total risk-based capital to risk weighted assets, minimum capital requirement, amount | $ 37,379 | $ 34,607 |
Total risk-based capital to risk weighted assets, minimum capital requirement, ratio | 8.00% | 8.00% |
Total risk-based capital to risk weighted assets, minimum to be well capitalized, amount | $ 46,723 | $ 43,259 |
Total risk-based capital to risk weighted assets, minimum to be well capitalized, ratio | 10.00% | 10.00% |
Tier 1 Capital to risk weighted assets, actual amount | $ 60,860 | $ 57,407 |
Tier 1 Capital to risk weighted assets, actual ratio | 13.03% | 13.27% |
Tier 1 Capital to risk weighted assets, minimum capital requirement, amount | $ 28,034 | $ 25,955 |
Tier 1 Capital to risk weighted assets, minimum capital requirement, ratio | 6.00% | 6.00% |
Tier 1 Capital to risk weighted assets, minimum to be well capitalized, amount | $ 37,379 | $ 34,607 |
Tier 1 Capital to risk weighted assets, minimum to be well capitalized, ratio | 8.00% | 8.00% |
Common equity tier 1 capital to risk weighted assets, actual, amount | $ 60,860 | $ 57,407 |
Common equity tier 1 capital to risk weighted assets, actual, ratio | 13.03% | 13.27% |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, amount | $ 21,025 | $ 19,466 |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, ratio | 4.50% | 4.50% |
Common equity tier 1 capital to risk weighted assets, minimum to be well capitalized, amount | $ 30,370 | $ 28,118 |
Common equity tier 1 capital to risk weighted assets, minimum to be well capitalized, ratio | 6.50% | 6.50% |
Tier 1 Capital to adjusted total average assets, actual, amount | $ 60,860 | $ 57,407 |
Tier 1 Capital to adjusted total average assets, actual, ratio | 9.23% | 9.36% |
Tier 1 Capital to adjusted total average assets, minimum capital requirement, actual | $ 26,364 | $ 24,530 |
Tier 1 Capital to adjusted total average assets, minimum capital requirement, ratio | 4.00% | 4.00% |
Tier 1 Capital to adjusted total average assets, minimum to be well capitalized, amount | $ 32,954 | $ 30,662 |
Tier 1 Capital to adjusted total average assets, minimum to be well capitalized, ratio | 5.00% | 5.00% |
Note 18 - Regulatory Capital104
Note 18 - Regulatory Capital Requirements - Schedule of Reconciliation of the Bank's Capital (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Tier I capital | $ 57,375 | $ 53,175 | |
Loans receivable, allowance for loan losses | 4,770 | 3,550 | $ 2,450 |
Total risk-based capital | 72,145 | 66,725 | |
Parent Company [Member] | |||
Capital determined by GAAP | 67,610 | 64,726 | |
Unrealized loss on securities available-for-sale | 724 | 142 | |
Unrealized gain on forward delivery commitments | (330) | (376) | |
Goodwill and core deposit intangibles, net of associated deferred tax liabilities | (6,490) | (6,654) | |
Disallowed deferred tax assets | (654) | (431) | |
Tier I capital | 60,860 | 57,407 | |
Loans receivable, allowance for loan losses | 4,770 | 3,550 | |
Total risk-based capital | $ 65,630 | $ 60,957 |
Note 19 - Related Party Tran105
Note 19 - Related Party Transactions (Details Textual) - USD ($) | 12 Months Ended | ||||
Jun. 30, 2008 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jul. 09, 2008 | |
Affiliated Entity [Member] | |||||
Long-term Line of Credit | $ 0 | $ 0 | |||
Construction Loan Refinanced in to Permanent Financing | $ 7,500,000 | ||||
Construction Loan | $ 5,849,000 | $ 5,849,000 | |||
Construction Loan Net of Participation Sold | $ 1,170,000 | ||||
Montana Board of Investments [Member] | |||||
Construction Loan Sold to Related Party, Percent | 80.00% | ||||
Construction Loan Sold to Related Party, Value | $ 6,000,000 |
Note 20 - Employee Benefits (De
Note 20 - Employee Benefits (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Apr. 30, 2010 | Apr. 30, 2000 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Nov. 01, 2011 | |
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 361,000 | $ 293,000 | ||||
Deferred Compensation Arrangement with Individual, Recorded Liability | $ 1,682,000 | 1,423,000 | ||||
Employee Stock Ownership Plan (ESOP), Debt Structure, Direct Loan, Amount | $ 1,971,420 | $ 368,000 | ||||
Employee Stock Ownership Plan (ESOP), Shares Contributed to ESOP | 197,142 | 46,006 | ||||
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased | $ 10 | $ 8 | ||||
Employee Stock Ownership Plan ESOP Debt Structure Direct Loan Term | 12 years | |||||
Employee Stock Ownership Plan ESOP Debt Structure Direct Loan Interest Rate | 8.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 7 years | |||||
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 189,000 | $ 168,000 | ||||
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares | 16,616 | 16,616 | ||||
Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares | 80,828 | |||||
Employee Stock Ownership Plan ESOP Cost of Committed to be Released Shares | $ 809,000 | |||||
Employee Stock Ownership Plan (ESOP), Deferred Shares, Fair Value | $ 1,705,000 | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||
Allocated Share-based Compensation Expense | $ 478,000 | $ 232,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 64,268 | 93,708 | 37,256 | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ 1,166,000 | |||||
Before Amendment [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 98,571 | |||||
After Amendment [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 168,571 | |||||
Profit Sharing Plan [Member] | ||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 15.00% | |||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 451,000 | $ 452,000 | ||||
401 (k) Plan [Member] | ||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4.00% | |||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 203,000 | $ 162,000 | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 50.00% |
Note 20 - Employee Benefits - A
Note 20 - Employee Benefits - Activity of Awards Granted (Details) - Restricted Stock [Member] - shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Unvested awards (in shares) | 93,708 | 37,256 |
Awards granted (in shares) | 2,900 | 74,000 |
Awards vested (in shares) | (31,945) | (17,548) |
Awards forfeited (in shares) | (395) | 0 |
Unvested awards (in shares) | 64,268 | 93,708 |
Note 21 - Financial Instrume108
Note 21 - Financial Instruments and Off-balance Sheet Activities (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Notional Amount of Interest Rate Lock Commitments | $ 19,738,000 | $ 24,378,000 |
Credit Card Receivable [Member] | ||
Fair Value, Concentration of Risk, Commitments | 0 | 1,239,000 |
Commitments to Extend Credit Credit Risk that had Been Drawn | 0 | 96,000 |
Line of Credit [Member] | ||
Fair Value, Concentration of Risk, Commitments | 86,259,000 | 78,554,000 |
Letter of Credit [Member] | ||
Fair Value, Concentration of Risk, Commitments | $ 3,165,000 | $ 3,124,000 |
Minimum [Member] | ||
Commitments to Extend Credit Estimated Completion or Termination Period | 90 days | |
Commitments to Extend Credit Fixed Interest Rate | 2.88% | 2.88% |
Maximum [Member] | ||
Commitments to Extend Credit Estimated Completion or Termination Period | 1 year | |
Commitments to Extend Credit Fixed Interest Rate | 5.00% | 5.13% |
Note 22 - Derivatives and He109
Note 22 - Derivatives and Hedging Activities (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fixed Rate Loan Hedged, Original Maturity Term | 20 years | |||
Loans Receivable with Fixed Rates of Interest | $ 10,641,000 | $ 123,000 | $ 132,000 | |
Assets, Fair Value Adjustment | $ 138,000 | |||
Loans and Leases Receivable, Commitments, Fixed Rates | 17,808,000 | 18,208,000 | ||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 558,000 | $ 635,000 | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | $ 0 | |||
Minimum [Member] | ||||
Loans and Leases Receivable Commitments Fixed Interest Rates | 1.87% | 2.25% | ||
Maximum [Member] | ||||
Loans and Leases Receivable Commitments Fixed Interest Rates | 4.63% | 5.13% | ||
Interest Rate Swap [Member] | ||||
Derivative, Notional Amount | 10,673,000 | |||
Interest Rate Swap [Member] | Noninterest Income [Member] | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | $ (93,000) | $ (317,000) |
Note 23 - Fair Value Disclos110
Note 23 - Fair Value Disclosures (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Loans and Leases Receivable, Gross | $ 467,253,000 | $ 408,079,000 | |
Loans and Leases Receivable, Allowance | 4,770,000 | 3,550,000 | $ 2,450,000 |
Impaired Loans [Member] | |||
Loans and Leases Receivable, Gross | 657,000 | 2,076,000 | |
Loans and Leases Receivable, Allowance | 8,000 | 48,000 | |
Loans Receivable, Fair Value Disclosure | $ 649,000 | $ 2,028,000 | |
Mortgage Servicing Rights [Member] | Minimum [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 13.00% | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 104.00% | ||
Mortgage Servicing Rights [Member] | Maximum [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 15.00% | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 277.00% | ||
Mortgage Servicing Rights [Member] | Maximum [Member] | Private Investors [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 1.00% | ||
Mortgage Servicing Rights [Member] | Maximum [Member] | Agency Investors [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 1.25% |
Note 23 - Fair Value Disclos111
Note 23 - Fair Value Disclosures - Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loans held-for-sale | $ 18,230 | $ 18,702 |
Financial Assets : | ||
Loans held-for-sale | 18,230 | 18,702 |
Fair Value, Inputs, Level 1 [Member] | ||
Loans held-for-sale | ||
Financial Assets : | ||
Loans held-for-sale | ||
Fair Value, Inputs, Level 2 [Member] | ||
Loans held-for-sale | 18,230 | 18,702 |
Financial Assets : | ||
Loans held-for-sale | 18,230 | 18,702 |
Fair Value, Inputs, Level 3 [Member] | ||
Loans held-for-sale | ||
Financial Assets : | ||
Loans held-for-sale | ||
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 5,608 | 10,615 |
Financial Assets : | ||
Securities available-for-sale | 5,608 | 10,615 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
Financial Assets : | ||
Securities available-for-sale | ||
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 5,608 | 10,615 |
Financial Assets : | ||
Securities available-for-sale | 5,608 | 10,615 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Financial Assets : | ||
Securities available-for-sale | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 67,664 | 67,069 |
Financial Assets : | ||
Securities available-for-sale | 67,664 | 67,069 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
Financial Assets : | ||
Securities available-for-sale | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 67,664 | 67,069 |
Financial Assets : | ||
Securities available-for-sale | 67,664 | 67,069 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Financial Assets : | ||
Securities available-for-sale | ||
Corporate Debt Securities [Member] | ||
Securities available-for-sale | 9,307 | 9,450 |
Financial Assets : | ||
Securities available-for-sale | 9,307 | 9,450 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
Financial Assets : | ||
Securities available-for-sale | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 9,307 | 9,450 |
Financial Assets : | ||
Securities available-for-sale | 9,307 | 9,450 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Financial Assets : | ||
Securities available-for-sale | ||
Mortgage-backed Securities, Government Backed [Member] | ||
Securities available-for-sale | 29,512 | 32,735 |
Financial Assets : | ||
Securities available-for-sale | 29,512 | 32,735 |
Mortgage-backed Securities, Government Backed [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
Financial Assets : | ||
Securities available-for-sale | ||
Mortgage-backed Securities, Government Backed [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 29,512 | 32,735 |
Financial Assets : | ||
Securities available-for-sale | 29,512 | 32,735 |
Mortgage-backed Securities, Government Backed [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Financial Assets : | ||
Securities available-for-sale | ||
Collateralized Mortgage Obligations, Government Backed [Member] | ||
Securities available-for-sale | 16,345 | 25,869 |
Financial Assets : | ||
Securities available-for-sale | 16,345 | 25,869 |
Collateralized Mortgage Obligations, Government Backed [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
Financial Assets : | ||
Securities available-for-sale | ||
Collateralized Mortgage Obligations, Government Backed [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 16,345 | 25,869 |
Financial Assets : | ||
Securities available-for-sale | 16,345 | 25,869 |
Collateralized Mortgage Obligations, Government Backed [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Financial Assets : | ||
Securities available-for-sale |
Note 23 - Fair Value Disclos112
Note 23 - Fair Value Disclosures - Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Impaired loans, fair value | $ 649 | $ 2,028 |
Repossessed assets, fair value | 825 | 595 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans, fair value | ||
Repossessed assets, fair value | ||
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans, fair value | ||
Repossessed assets, fair value | ||
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans, fair value | 649 | 2,028 |
Repossessed assets, fair value | $ 825 | $ 595 |
Note 23 - Fair Value Disclos113
Note 23 - Fair Value Disclosures - Financial Assets and Liabilities, Valuation Techniques and Significant Unobservable Inputs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Minimum [Member] | |||
Range of significant input values | 13.00% | ||
Maximum [Member] | |||
Range of significant input values | 15.00% | ||
Impaired Loans [Member] | |||
Fair value | $ 649 | $ 2,028 | |
Principal valuation technique | [1] | Appraisal of collateral | |
Significant unobservable inputs | Appraisal adjustments | ||
Impaired Loans [Member] | Minimum [Member] | |||
Range of significant input values | 10.00% | ||
Impaired Loans [Member] | Maximum [Member] | |||
Range of significant input values | 30.00% | ||
Repossessed Assets [Member] | |||
Fair value | $ 825 | $ 595 | |
Principal valuation technique | [1],[2] | Appraisal of collateral | |
Significant unobservable inputs | [3] | Liquidation expenses | |
Repossessed Assets [Member] | Minimum [Member] | |||
Range of significant input values | 10.00% | ||
Repossessed Assets [Member] | Maximum [Member] | |||
Range of significant input values | 30.00% | ||
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable, less associated allowance. | ||
[2] | Includes qualitative adjustments by management and estimated liquidation expenses. | ||
[3] | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Note 23 - Fair Value Disclos114
Note 23 - Fair Value Disclosures - Estimated Fair Value and Carrying Amounts of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | $ 7,318 | $ 7,438 |
Federal Home Loan Bank stock | 4,012 | 3,397 |
Federal Reserve Bank stock | 871 | 887 |
Loans Receivable, Fair Value Disclosure | 464,797 | 408,414 |
Accrued interest and dividends receivable | 2,123 | 2,278 |
Mortgage servicing rights | 6,741 | 6,452 |
Cash surrender value of life insurance | 14,095 | 12,514 |
Non-maturing interest bearing deposits | 264,640 | 253,704 |
Noninterest bearing deposits | 82,877 | 77,031 |
Time certificates of deposit | 165,129 | 152,691 |
Accrued expenses and other liabilities | 4,291 | 4,050 |
Federal Home Loan Bank advances and other borrowings | 82,462 | 72,811 |
Subordinated debentures | 14,291 | 14,306 |
Financial assets: | ||
Cash and cash equivalents | 7,318 | 7,438 |
Federal Home Loan Bank stock | 4,012 | 3,397 |
Federal Reserve Bank stock | 871 | 887 |
Loans Receivable, Fair Value Disclosure | 464,797 | 408,414 |
Accrued interest and dividends receivable | 2,123 | 2,278 |
Mortgage servicing rights | 6,741 | 6,452 |
Cash surrender value of life insurance | 14,095 | 12,514 |
us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract | ||
Non-maturing interest bearing deposits | 264,640 | 253,704 |
Noninterest bearing deposits | 82,877 | 77,031 |
Time certificates of deposit | 165,129 | 152,691 |
Accrued expenses and other liabilities | 4,291 | 4,050 |
Federal Home Loan Bank advances and other borrowings | 82,462 | 72,811 |
Subordinated debentures | 14,291 | 14,306 |
Estimate of Fair Value Measurement [Member] | Forward Contracts [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 7,318 | 7,438 |
Federal Home Loan Bank stock | 4,012 | 3,397 |
Federal Reserve Bank stock | 871 | 887 |
Loans Receivable, Fair Value Disclosure | 460,742 | 401,706 |
Accrued interest and dividends receivable | 2,123 | 2,278 |
Mortgage servicing rights | 5,853 | 4,968 |
Cash surrender value of life insurance | 14,095 | 12,514 |
Non-maturing interest bearing deposits | 264,640 | 253,704 |
Noninterest bearing deposits | 82,877 | 77,031 |
Time certificates of deposit | 165,278 | 152,447 |
Accrued expenses and other liabilities | 4,291 | 4,050 |
Federal Home Loan Bank advances and other borrowings | 82,413 | 72,716 |
Subordinated debentures | 15,155 | 15,155 |
Financial assets: | ||
Cash and cash equivalents | 7,318 | 7,438 |
Federal Home Loan Bank stock | 4,012 | 3,397 |
Federal Reserve Bank stock | 871 | 887 |
Loans Receivable, Fair Value Disclosure | 460,742 | 401,706 |
Accrued interest and dividends receivable | 2,123 | 2,278 |
Mortgage servicing rights | 5,853 | 4,968 |
Cash surrender value of life insurance | 14,095 | 12,514 |
us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract | ||
Non-maturing interest bearing deposits | 264,640 | 253,704 |
Noninterest bearing deposits | 82,877 | 77,031 |
Time certificates of deposit | 165,278 | 152,447 |
Accrued expenses and other liabilities | 4,291 | 4,050 |
Federal Home Loan Bank advances and other borrowings | 82,413 | 72,716 |
Subordinated debentures | 15,155 | 15,155 |
Reported Value Measurement [Member] | Forward Contracts [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Reported Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Reported Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 7,318 | 7,438 |
Federal Home Loan Bank stock | 4,012 | 3,397 |
Federal Reserve Bank stock | 871 | 887 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest and dividends receivable | 2,123 | 2,278 |
Mortgage servicing rights | 0 | 0 |
Cash surrender value of life insurance | 14,095 | 12,514 |
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 82,877 | 77,031 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 4,291 | 4,050 |
Federal Home Loan Bank advances and other borrowings | 0 | 0 |
Subordinated debentures | 0 | 0 |
Financial assets: | ||
Cash and cash equivalents | 7,318 | 7,438 |
Federal Home Loan Bank stock | 4,012 | 3,397 |
Federal Reserve Bank stock | 871 | 887 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest and dividends receivable | 2,123 | 2,278 |
Mortgage servicing rights | 0 | 0 |
Cash surrender value of life insurance | 14,095 | 12,514 |
us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract | ||
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 82,877 | 77,031 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 4,291 | 4,050 |
Federal Home Loan Bank advances and other borrowings | 0 | 0 |
Subordinated debentures | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Forward Contracts [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Cash surrender value of life insurance | 0 | 0 |
Non-maturing interest bearing deposits | 264,640 | 253,704 |
Noninterest bearing deposits | 0 | 0 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 0 | 0 |
Federal Home Loan Bank advances and other borrowings | 0 | 0 |
Subordinated debentures | 0 | 0 |
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Cash surrender value of life insurance | 0 | 0 |
us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract | ||
Non-maturing interest bearing deposits | 264,640 | 253,704 |
Noninterest bearing deposits | 0 | 0 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 0 | 0 |
Federal Home Loan Bank advances and other borrowings | 0 | 0 |
Subordinated debentures | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Forward Contracts [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Loans Receivable, Fair Value Disclosure | 464,797 | 408,414 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 6,741 | 6,452 |
Cash surrender value of life insurance | 0 | 0 |
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 0 | 0 |
Time certificates of deposit | 165,129 | 152,691 |
Accrued expenses and other liabilities | 0 | 0 |
Federal Home Loan Bank advances and other borrowings | 82,462 | 72,811 |
Subordinated debentures | 14,291 | 14,306 |
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Loans Receivable, Fair Value Disclosure | 464,797 | 408,414 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 6,741 | 6,452 |
Cash surrender value of life insurance | 0 | 0 |
us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract | ||
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 0 | 0 |
Time certificates of deposit | 165,129 | 152,691 |
Accrued expenses and other liabilities | 0 | 0 |
Federal Home Loan Bank advances and other borrowings | 82,462 | 72,811 |
Subordinated debentures | 14,291 | 14,306 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Forward Contracts [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Forward delivery commitments | 0 | 0 |
Off-balance-sheet instruments | ||
Forward delivery commitments | $ 0 | $ 0 |
Note 24 - Condensed Parent C115
Note 24 - Condensed Parent Company Financial Statements - Condensed Statements of Financial Condition (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
ASSETS: | |||
Cash and cash equivalents | $ 7,318 | $ 7,438 | $ 12,502 |
Securities available-for-sale | 128,436 | 145,738 | |
Investment in Eagle Bancorp Statutory Trust I | 155 | 155 | |
Other assets | 1,840 | 2,686 | |
Total assets | 673,925 | 630,347 | |
Liabilities and Shareholders's Equity: | |||
Shareholders' equity | 59,456 | 55,450 | 54,498 |
Total liabilities and shareholders' equity | 673,925 | 630,347 | |
Parent Company [Member] | |||
ASSETS: | |||
Cash and cash equivalents | 953 | 243 | $ 147 |
Securities available-for-sale | 3,727 | 3,810 | |
Other assets | 2,003 | 1,469 | |
Total assets | 74,447 | 70,403 | |
Liabilities and Shareholders's Equity: | |||
Accounts payable and accrued expenses | 21 | 4 | |
Long-term subordinated debt | 14,970 | 14,949 | |
Shareholders' equity | 59,456 | 55,450 | |
Total liabilities and shareholders' equity | 74,447 | 70,403 | |
Parent Company [Member] | Eagle Bancorp Statutory Trust I [Member] | |||
ASSETS: | |||
Investment in Eagle Bancorp Statutory Trust I | 155 | 155 | |
Parent Company [Member] | Opportunity Bank of Montana [Member] | |||
ASSETS: | |||
Investment in Eagle Bancorp Statutory Trust I | $ 67,609 | $ 64,726 |
Note 24 - Condensed Parent C116
Note 24 - Condensed Parent Company Financial Statements - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest expense | $ (793) | $ (787) | $ (788) | $ (750) | $ (707) | $ (721) | $ (526) | $ (501) | $ (3,118) | $ (2,455) |
Noninterest income | 4,599 | 4,689 | 3,806 | 2,896 | 2,692 | 2,912 | 3,275 | 2,882 | 15,990 | 11,761 |
Noninterest expense | (7,626) | (7,159) | (6,686) | (6,548) | (6,401) | (6,492) | (6,472) | (6,361) | (28,019) | (25,726) |
INCOME BEFORE INCOME TAXES | 2,082 | 2,479 | 1,604 | 766 | 814 | 543 | 964 | 422 | 6,931 | 2,743 |
Income tax benefit | 633 | 707 | 340 | 119 | (67) | 22 | 172 | 36 | 1,799 | 163 |
Equity in undistributed earnings of Opportunity Bank of Montana | 5,911 | 3,134 | ||||||||
NET INCOME | $ 1,449 | $ 1,772 | $ 1,264 | $ 647 | $ 881 | $ 521 | $ 792 | $ 386 | 5,132 | 2,580 |
Parent Company [Member] | ||||||||||
Interest income | 98 | 99 | ||||||||
Interest expense | (785) | (448) | ||||||||
Noninterest income | 14 | |||||||||
Noninterest expense | (515) | (593) | ||||||||
INCOME BEFORE INCOME TAXES | (1,202) | (928) | ||||||||
Income tax benefit | (423) | (374) | ||||||||
Loss before equity in undistributed earnings of Opportunity Bank of Montana | (779) | (554) | ||||||||
Equity in undistributed earnings of Opportunity Bank of Montana | 5,911 | 3,134 | ||||||||
NET INCOME | $ 5,132 | $ 2,580 |
Note 24 - Condensed Parent C117
Note 24 - Condensed Parent Company Financial Statements - Condensed Statements of Cash Flow (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 1,449,000 | $ 1,772,000 | $ 1,264,000 | $ 647,000 | $ 881,000 | $ 521,000 | $ 792,000 | $ 386,000 | $ 5,132,000 | $ 2,580,000 |
Equity in undistributed earnings of Opportunity Bank of Montana | (5,911,000) | (3,134,000) | ||||||||
Net cash used in operating activities | 12,893,000 | 4,884,000 | ||||||||
Cash contributions from Opportunity Bank of Montana | 2,400,000 | 1,240,000 | ||||||||
Sales | 23,649,000 | 31,301,000 | ||||||||
Maturities, principal payments and calls | 9,882,000 | 12,515,000 | ||||||||
Purchases | (18,859,000) | (28,872,000) | ||||||||
Net cash used in investing activities | (51,130,000) | (76,763,000) | ||||||||
Proceeds from issuance of subordinated debentures | 10,000,000 | |||||||||
Payments for debt issuance costs | (206,000) | |||||||||
Purchase of treasury stock, at cost | (1,320,000) | |||||||||
Dividends paid | (1,193,000) | (1,164,000) | ||||||||
Net cash provided by financing activities | 38,117,000 | 66,815,000 | ||||||||
Net Increase in Cash and Cash Equivalents | (120,000) | (5,064,000) | ||||||||
CASH AND CASH EQUIVALENTS, beginning of period | 7,438,000 | 12,502,000 | 7,438,000 | 12,502,000 | ||||||
CASH AND CASH EQUIVALENTS, end of period | 7,318,000 | 7,438,000 | 7,318,000 | 7,438,000 | ||||||
Parent Company [Member] | ||||||||||
Net income | 5,132,000 | 2,580,000 | ||||||||
Equity in undistributed earnings of Opportunity Bank of Montana | (5,911,000) | (3,134,000) | ||||||||
Other adjustments, net | (415,000) | (204,000) | ||||||||
Net cash used in operating activities | (1,194,000) | (758,000) | ||||||||
Cash contributions from Opportunity Bank of Montana | 2,400,000 | 1,240,000 | ||||||||
Cash distributions to Opportunity Bank of Montana | (8,000,000) | |||||||||
Sales | 790,000 | |||||||||
Maturities, principal payments and calls | 420,000 | 330,000 | ||||||||
Purchases | (405,000) | (1,194,000) | ||||||||
Net cash used in investing activities | 2,415,000 | (6,834,000) | ||||||||
Employee Stock Ownership Plan payments and dividends | 182,000 | 174,000 | ||||||||
Proceeds from issuance of subordinated debentures | 10,000,000 | |||||||||
Payments for debt issuance costs | (206,000) | |||||||||
Purchase of treasury stock, at cost | (1,320,000) | |||||||||
Treasury shares reissued for compensation | 500,000 | 204,000 | ||||||||
Dividends paid | (1,193,000) | (1,164,000) | ||||||||
Net cash provided by financing activities | (511,000) | 7,688,000 | ||||||||
Net Increase in Cash and Cash Equivalents | 710,000 | 96,000 | ||||||||
CASH AND CASH EQUIVALENTS, beginning of period | $ 243,000 | $ 147,000 | 243,000 | 147,000 | ||||||
CASH AND CASH EQUIVALENTS, end of period | $ 953,000 | $ 243,000 | $ 953,000 | $ 243,000 |
Note 25 - Quarterly Results 118
Note 25 - Quarterly Results of Operations (Unaudited) - Condensed Summary of Quarterly Consolidated Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest and dividend income | $ 6,354 | $ 6,208 | $ 5,731 | $ 5,618 | $ 5,573 | $ 5,154 | $ 5,015 | $ 4,724 | $ 23,911 | $ 20,466 |
Interest expense | 793 | 787 | 788 | 750 | 707 | 721 | 526 | 501 | 3,118 | 2,455 |
Net interest income | 5,561 | 5,421 | 4,943 | 4,868 | 4,866 | 4,433 | 4,489 | 4,223 | 20,793 | 18,011 |
Loan loss provision | 452 | 472 | 459 | 450 | 343 | 310 | 328 | 322 | 1,833 | 1,303 |
Net interest income after loan loss provision | 5,109 | 4,949 | 4,484 | 4,418 | 4,523 | 4,123 | 4,161 | 3,901 | 18,960 | 16,708 |
Noninterest income | 4,599 | 4,689 | 3,806 | 2,896 | 2,692 | 2,912 | 3,275 | 2,882 | 15,990 | 11,761 |
Noninterest expense | 7,626 | 7,159 | 6,686 | 6,548 | 6,401 | 6,492 | 6,472 | 6,361 | 28,019 | 25,726 |
Income before income tax expense | 2,082 | 2,479 | 1,604 | 766 | 814 | 543 | 964 | 422 | 6,931 | 2,743 |
Income tax benefit | 633 | 707 | 340 | 119 | (67) | 22 | 172 | 36 | 1,799 | 163 |
Net income | 1,449 | 1,772 | 1,264 | 647 | 881 | 521 | 792 | 386 | 5,132 | 2,580 |
Other comprehensive income (loss) | $ (2,296) | $ (496) | $ 1,461 | $ 668 | $ 363 | $ 975 | $ (1,666) | $ 795 | $ (663) | $ 467 |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 0.39 | $ 0.46 | $ 0.34 | $ 0.17 | $ 0.23 | $ 0.14 | $ 0.21 | $ 0.10 | $ 1.36 | $ 0.68 |
DILUTED EARNINGS PER SHARE (in dollars per share) | $ 0.37 | $ 0.46 | $ 0.32 | $ 0.17 | $ 0.22 | $ 0.14 | $ 0.21 | $ 0.10 | $ 1.32 | $ 0.67 |
Note 26 - Subsequent Events (De
Note 26 - Subsequent Events (Details Textual) - USD ($) | Feb. 13, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument, Face Amount | $ 15,155,000 | $ 15,155,000 | |
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | Subsequent Event [Member] | |||
Debt Instrument, Face Amount | $ 10,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | ||
Proceeds from Issuance of Long-term Debt | $ 9,800,000 |