Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 07, 2018 | |
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) | 5,460,452 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS: | ||
Cash and due from banks | $ 7,583 | $ 5,517 |
Interest bearing deposits in banks | 1,397 | 1,920 |
Total cash and cash equivalents | 8,980 | 7,437 |
Securities available-for-sale | 154,265 | 132,044 |
Federal Home Loan Bank stock | 4,559 | 4,086 |
Federal Reserve Bank stock | 2,019 | 1,465 |
Investment in Eagle Bancorp Statutory Trust I | 155 | 155 |
Mortgage loans held-for-sale | 11,700 | 8,949 |
Loans receivable, net of deferred loan fees of $1,029 at June 30, 2018 and $1,093 at December 31, 2017 and allowance for loan losses of $6,150 at June 30, 2018 and $5,750 at December 31, 2017 | 575,578 | 507,404 |
Accrued interest and dividends receivable | 3,668 | 2,555 |
Mortgage servicing rights, net | 6,716 | 6,578 |
Premises and equipment, net | 27,969 | 21,958 |
Cash surrender value of life insurance | 14,670 | 14,481 |
Real estate and other repossessed assets acquired in settlement of loans, net | 457 | 525 |
Goodwill | 12,124 | 7,034 |
Core deposit intangible, net | 1,702 | 273 |
Deferred tax asset, net | 2,012 | 1,360 |
Other assets | 253 | 478 |
Total assets | 826,827 | 716,782 |
LIABILITIES: | ||
Noninterest bearing | 133,736 | 99,799 |
Interest bearing | 479,439 | 420,765 |
Total deposits | 613,175 | 520,564 |
Accrued expenses and other liabilities | 5,535 | 4,822 |
Federal Home Loan Bank advances and other borrowings | 91,469 | 82,969 |
Other long-term debt: | ||
Principal amount | 25,155 | 25,155 |
Unamortized debt issuance costs | (312) | (344) |
Total other long-term debt less unamortized debt issuance costs | 24,843 | 24,811 |
Total liabilities | 735,022 | 633,166 |
SHAREHOLDERS' EQUITY: | ||
Preferred stock (par value $0.01 per share; 1,000,000 shares authorized; no shares issued or outstanding) | ||
Common stock (par value $0.01 per share; 8,000,000 shares authorized; 5,718,942 and 5,272,168 shares issued; 5,460,452 and 5,013,678 shares outstanding at June 30, 2018 and December 31, 2017) | 57 | 53 |
Additional paid-in capital | 51,890 | 42,780 |
Unallocated common stock held by Employee Stock Ownership Plan | (559) | (643) |
Treasury stock, at cost | (2,826) | (2,826) |
Retained earnings | 44,862 | 43,939 |
Net accumulated other comprehensive (loss) income | (1,619) | 313 |
Total shareholders' equity | 91,805 | 83,616 |
Total liabilities and shareholders' equity | $ 826,827 | $ 716,782 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Deferred loan fees | $ 1,029 | $ 1,093 |
Allowance for loan losses | $ 6,150 | $ 5,750 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
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) | 5,718,942 | 5,272,168 |
Common stock, shares outstanding (in shares) | 5,460,452 | 5,013,678 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
INTEREST AND DIVIDEND INCOME: | ||||
Interest and fees on loans | $ 7,862,000 | $ 6,174,000 | $ 14,734,000 | $ 11,744,000 |
Securities available-for-sale | 1,021,000 | 714,000 | 2,010,000 | 1,443,000 |
Federal Home Loan Bank and Federal Reserve Bank dividends | 74,000 | 36,000 | 153,000 | 76,000 |
Interest on deposits in banks | 18,000 | 1,000 | 35,000 | 1,000 |
Other interest income | 1,000 | 1,000 | 1,000 | |
Total interest and dividend income | 8,976,000 | 6,925,000 | 16,933,000 | 13,265,000 |
INTEREST EXPENSE: | ||||
Deposits | 494,000 | 376,000 | 920,000 | 756,000 |
Federal Home Loan Bank advances and other borrowings | 315,000 | 322,000 | 652,000 | 527,000 |
Other long-term debt | 357,000 | 347,000 | 704,000 | 619,000 |
Total interest expense | 1,166,000 | 1,045,000 | 2,276,000 | 1,902,000 |
NET INTEREST INCOME | 7,810,000 | 5,880,000 | 14,657,000 | 11,363,000 |
Loan loss provision | 24,000 | 302,000 | 526,000 | 603,000 |
NET INTEREST INCOME AFTER LOAN LOSS PROVISION | 7,786,000 | 5,578,000 | 14,131,000 | 10,760,000 |
NONINTEREST INCOME: | ||||
Net gain on sale of loans (includes $262,000 and $341,000 for the three months ended June 30, 2018 and 2017, respectively, and $587,000 and $899,000 for the six months ended June 30, 2018 and 2017, respectively, related to accumulated other comprehensive earnings reclassification) | 1,720,000 | 2,263,000 | 3,159,000 | 4,088,000 |
Appreciation in cash surrender value of life insurance | 146,000 | 126,000 | 270,000 | 250,000 |
Net gain (loss) on sale of available-for-sale securities (includes $15,000 and ($14,000) for the three months ended June 30, 2018 and 2017, respectively, and ($90,000) and ($14,000) for the six months ended June 30, 2018 and 2017, respectively, related to accumulated other comprehensive earnings reclassification) | 15,000 | (14,000) | (90,000) | (14,000) |
Net loss on sale of real estate owned and other repossessed property | (32,000) | (24,000) | (57,000) | (25,000) |
Other noninterest income | 40,000 | 63,000 | 143,000 | 197,000 |
Total noninterest income | 3,084,000 | 3,570,000 | 5,763,000 | 6,778,000 |
NONINTEREST EXPENSE: | ||||
Salaries and employee benefits | 5,461,000 | 4,586,000 | 10,370,000 | 9,019,000 |
Occupancy and equipment expense | 835,000 | 672,000 | 1,663,000 | 1,389,000 |
Data processing | 673,000 | 566,000 | 1,310,000 | 1,133,000 |
Advertising | 298,000 | 269,000 | 576,000 | 458,000 |
Amortization of mortgage servicing rights | 369,000 | 262,000 | 610,000 | 524,000 |
Amortization of core deposit intangible and tax credits | 235,000 | 107,000 | 337,000 | 214,000 |
Loan costs | 179,000 | 134,000 | 315,000 | 299,000 |
Federal insurance premiums | 69,000 | 36,000 | 138,000 | 120,000 |
Postage | 84,000 | 51,000 | 134,000 | 99,000 |
Legal, accounting and examination fees | 184,000 | 200,000 | 326,000 | 285,000 |
Consulting fees | 25,000 | 59,000 | 42,000 | 108,000 |
Acquisition costs | 131,000 | 365,000 | ||
Write-down on real estate owned and other repossessed property | 9,000 | 45,000 | ||
Other noninterest expense | 701,000 | 669,000 | 1,382,000 | 1,366,000 |
Total noninterest expense | 9,244,000 | 7,620,000 | 17,568,000 | 15,059,000 |
INCOME BEFORE INCOME TAXES | 1,626,000 | 1,528,000 | 2,326,000 | 2,479,000 |
Income tax expense (includes ($23,000) and $858,000 for the three months ended June 30, 2018 and 2017, respectively, and ($700,000) and $883,000 for the six months ended June 30, 2018 and 2017, respectively related to income tax (benefit) expense from reclassification items) | 293,000 | 462,000 | 420,000 | 650,000 |
NET INCOME | $ 1,333,000 | $ 1,066,000 | $ 1,906,000 | $ 1,829,000 |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 0.24 | $ 0.28 | $ 0.35 | $ 0.48 |
DILUTED EARNINGS PER SHARE (in dollars per share) | $ 0.24 | $ 0.27 | $ 0.35 | $ 0.47 |
WEIGHTED AVERAGE SHARES OUTSTANDING (BASIC EPS) (in shares) | 5,460,452 | 3,811,409 | 5,386,401 | 3,811,409 |
WEIGHTED AVERAGE SHARES OUTSTANDING (DILUTED EPS) (in shares) | 5,524,912 | 3,869,885 | 5,450,861 | 3,872,765 |
Deposit Account [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | $ 214,000 | $ 239,000 | $ 440,000 | $ 471,000 |
Bank Servicing [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | 563,000 | 509,000 | 1,123,000 | 1,056,000 |
Investment Advisory, Management and Administrative Service [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | 147,000 | 180,000 | 279,000 | 321,000 |
Debit Card [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | $ 271,000 | $ 228,000 | $ 496,000 | $ 434,000 |
Consolidated Statements of Inc5
Consolidated Statements of Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Gain on sale of loans, accumulated other comprehensive earnings reclassification | $ 262 | $ 341 | $ 587 | $ 899 |
Net loss on sale of available-for-sale securities, accumulated other comprehensive earnings reclassification | 15 | (14) | (90) | (14) |
Income tax expense, reclassification items | $ (23) | $ 858 | $ (700) | $ 883 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net income | $ 1,333 | $ 1,066 | $ 1,906 | $ 1,829 |
OTHER ITEMS OF COMPREHENSIVE (LOSS) INCOME: | ||||
Change in fair value of investment securities available-for-sale, before income taxes | (216) | 1,775 | (2,799) | 2,054 |
Reclassification for realized gains and losses on investment securities included in income, before income tax | (15) | 14 | 90 | 14 |
Change in fair value of derivatives designated as cash flow hedges, before income taxes | 402 | 657 | 664 | 998 |
Reclassification for realized gains on derivatives designated as cash flow hedges, before income taxes | (262) | (341) | (587) | (899) |
Total other items of comprehensive (loss) income | (91) | 2,105 | (2,632) | 2,167 |
Income tax benefit (expense) related to: | ||||
Investment securities | 60 | (730) | 720 | (843) |
Derivatives designated as cash flow hedges | (37) | (128) | (20) | (40) |
Total income tax benefit (expense) | 23 | (858) | 700 | (883) |
COMPREHENSIVE INCOME (LOSS) | $ 1,265 | $ 2,313 | $ (26) | $ 3,113 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] | 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 at Dec. 31, 2016 | $ 41 | $ 22,366 | $ (809) | $ (2,971) | $ 41,240 | $ (411) | $ 59,456 | |
Net income | 1,829 | 1,829 | ||||||
Other comprehensive income (loss) | 1,284 | 1,284 | ||||||
Dividends paid | (609) | (609) | ||||||
Employee Stock Ownership Plan shares allocated or committed to be released for allocation | 78 | 84 | 162 | |||||
Balance at Jun. 30, 2017 | 41 | 22,444 | (725) | (2,971) | 42,460 | 873 | 62,122 | |
Balance at Mar. 31, 2017 | (374) | |||||||
Net income | 1,066 | |||||||
Balance at Jun. 30, 2017 | 41 | 22,444 | (725) | (2,971) | 42,460 | 873 | 62,122 | |
Balance at Dec. 31, 2017 | 53 | 42,780 | (643) | (2,826) | 43,939 | 313 | 83,616 | |
Net income | 1,906 | 1,906 | ||||||
Other comprehensive income (loss) | (1,932) | (1,932) | ||||||
Dividends paid | (983) | (983) | ||||||
Stock issued in connection with TwinCo acquisition | 4 | 9,026 | 9,030 | |||||
Employee Stock Ownership Plan shares allocated or committed to be released for allocation | 84 | 84 | 168 | |||||
Balance at Jun. 30, 2018 | 57 | 51,890 | (559) | (2,826) | 44,862 | (1,619) | 91,805 | |
Balance at Mar. 31, 2018 | (1,551) | |||||||
Net income | 1,333 | |||||||
Balance at Jun. 30, 2018 | $ 57 | $ 51,890 | $ (559) | $ (2,826) | $ 44,862 | $ (1,619) | $ 91,805 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Retained Earnings [Member] | ||
Dividends paid, per share (in dollars per share) | $ 0.09 | $ 0.08 |
Unallocated ESOP Shares [Member] | ||
ESOP shares allocated or committed to be released for allocation, shares (in shares) | 8,308 | 8,308 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 1,906 | $ 1,829 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Loan loss provision | 526 | 603 |
Write-down on real estate owned and other repossessed assets | 45 | |
Depreciation | 578 | 472 |
Net amortization of investment securities premium and discounts | 648 | 822 |
Amortization of mortgage servicing rights | 610 | 524 |
Amortization of core deposit intangible and tax credits | 337 | 214 |
Deferred income tax provision (benefit) | 240 | (50) |
Net gain on sale of loans | (3,159) | (4,088) |
Net loss on sale of available-for-sale securities | 90 | 14 |
Net loss on sale of real estate owned and other repossessed assets | 57 | 25 |
Net appreciation in cash surrender value of life insurance | (211) | (194) |
Net change in: | ||
Accrued interest and dividends receivable | (408) | (51) |
Loans held-for-sale | 485 | 6,211 |
Other assets | 167 | 324 |
Accrued expenses and other liabilities | 862 | 738 |
Net cash provided by operating activities | 2,728 | 7,438 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Sales | 45,080 | 2,749 |
Maturities, principal payments and calls | 5,950 | 5,035 |
Purchases | (45,970) | (1,307) |
Federal Home Loan Bank stock purchased | (362) | (829) |
Federal Reserve Bank stock purchased | (554) | |
Cash paid for TwinCo Acquisition, net of cash received | (4,243) | |
Loan origination and principal collection, net | (14,395) | (42,917) |
Proceeds from Bank owned life insurance | 205 | |
Proceeds from sale of real estate and other repossessed assets acquired in settlement of loans | 150 | 262 |
Additions to premises and equipment | (4,984) | (1,119) |
Net cash used in investing activities | (19,123) | (38,126) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposits | 10,421 | 1,470 |
Net short-term advances on Federal Home Loan Bank and other borrowings | 23,376 | 11,553 |
Long-term advances from Federal Home Loan Bank and other borrowings | 17,000 | |
Payments on long-term Federal Home Loan Bank and other borrowings | (14,876) | (6,784) |
Proceeds from issuance of long-term debt | 10,000 | |
Payments for debt issuance costs | (219) | |
Dividends paid | (983) | (609) |
Net cash provided by financing activities | 17,938 | 32,411 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 1,543 | 1,723 |
CASH AND CASH EQUIVALENTS, beginning of period | 7,437 | 7,318 |
CASH AND CASH EQUIVALENTS, end of period | 8,980 | 9,041 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid during the period for interest | 2,120 | 1,763 |
Cash paid during the period for income taxes | 230 | 680 |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
(Decrease) increase in dmarket value of securities available-for-sale | (2,709) | 2,068 |
Mortgage servicing rights recognized | 748 | 798 |
Loans transferred to real estate and other assets acquired in foreclosure | 4 | |
Stock issued in connection with TwinCo acquisition | 9,030 | |
Employee Stock Ownership Plan shares released | $ 168 | $ 162 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1. The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not The results of operations for the six June 30, 2018 not December 31, 2018 10 December 31, 2017. Certain prior period amounts were reclassified to conform to the presentation for 2018. no June 30, 2018. March 31, 2018, 12. $55,000,000 no three six June 30, 2018 The Company evaluated subsequent events for potential recognition and/or disclosure through August 7, 2018 |
Note 2 - Investment Securities
Note 2 - Investment Securities | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 2 . INVESTMENT SECURITIES Investment securities are summarized as follows: June 30, 2018 December 31, 2017 Gross Gross Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains (Losses) Value Cost Gains (Losses) Value (In Thousands) Available-for-Sale: U.S. government and agency obligations $ 10,650 $ - $ (142 ) $ 10,508 $ 4,881 $ 13 $ (37 ) $ 4,857 Municipal obligations 75,102 193 (1,406 ) 73,889 67,508 807 (429 ) 67,886 Corporate obligations 12,931 18 (257 ) 12,692 14,725 18 (99 ) 14,644 Mortgage-backed securities 22,676 195 (394 ) 22,477 24,770 364 (265 ) 24,869 Collateralized mortgage obligations 25,083 2 (715 ) 24,370 20,051 7 (270 ) 19,788 Asset-backed securities 10,423 - (94 ) 10,329 - - - - Total $ 156,865 $ 408 $ (3,008 ) $ 154,265 $ 131,935 $ 1,209 $ (1,100 ) $ 132,044 Proceeds from sales of available-for-sale securities and the associated gross realized gains and losses were as follows: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 (In Thousands) Proceeds from sale of available-for-sale securities $ 19,086 $ 2,749 $ 45,080 $ 2,749 Gross realized gain on sale of available-for-sale securities $ 191 $ 14 $ 191 $ 14 Gross realized loss on sale of available-for-sale securities (176 ) (28 ) (281 ) (28 ) Net realized gain (loss) on sale of available-for-sale securities $ 15 $ (14 ) $ (90 ) $ (14 ) The amortized cost and fair value of securities by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may June 30, 2018 Amortized Fair Cost Value (In Thousands) Due in one year or less $ 1,756 $ 1,756 Due from one to five years 18,416 18,096 Due from five to ten years 14,265 14,021 Due after ten years 74,669 73,545 109,106 107,418 Mortgage-backed securities 22,676 22,477 Collateralized mortgage obligations 25,083 24,370 Total $ 156,865 $ 154,265 Maturities of securities do not The Company’s investment securities that have been in a continuous unrealized loss position for less than twelve twelve June 30, 2018 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 $ 9,243 $ (98 ) $ 1,264 $ (44 ) Municipal obligations 41,534 (680 ) 14,236 (726 ) Corporate obligations 7,687 (243 ) 987 (14 ) Mortgage-backed securities and collateralized mortgage obligations 16,641 (427 ) 15,640 (682 ) Asset-backed securities 10,329 (94 ) - - Total $ 85,434 $ (1,542 ) $ 32,127 $ (1,466 ) December 31, 2017 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 $ 2,943 $ (14 ) $ 1,363 $ (23 ) Municipal obligations 15,404 (87 ) 16,675 (342 ) Corporate obligations 7,643 (71 ) 3,981 (28 ) Mortgage-backed securities and collateralized mortgage obligations 9,107 (81 ) 21,653 (454 ) Asset-backed securities - - - - Total $ 35,097 $ (253 ) $ 43,672 $ (847 ) Management evaluates securities for other-than-temporary impairment at least quarterly, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to ( 1 2 3 June 30, 2018 December 31, 2017, 121 87 not As of June 30, 2018, 86 2.28% December 31, 2017, 52 1.28% June 30, 2018, 10 2.88% December 31, 2017, 15 0.84% no As of June 30, 2018, 20 3.32% December 31, 2017, 20 1.71% June 30, 2018 no not As of June 30, 2018, 5 0.90% March 31, 2018. June 30, 2018 no not |
Note 3 - Loans Receivable
Note 3 - Loans Receivable | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 3 . LOANS RECEIVABLE Loans receivable consisted of the following: June 30, December 31, 2018 2017 (In Thousands) Real estate loans: Residential 1-4 family $ 143,323 $ 135,217 Commercial real estate 281,525 244,783 Other loans: Home equity 53,178 52,672 Consumer 16,635 15,712 Commercial 88,096 65,863 Total 582,757 514,247 Deferred loan fees, net (1,029 ) (1,093 ) Allowance for loan losses (6,150 ) (5,750 ) Total loans, net $ 575,578 $ 507,404 Within the commercial real estate loan category, $12,797,000 $13,114,000 June 30, 2018 December 31, 2017, $3,016,000 $1,480,000 June 30, 2018, $256,000 $486,000 June 30, 2018, December 31, 2017, The following table includes information regarding nonperforming assets. June 30, December 31, 2018 2017 (Dollars in Thousands) Non-accrual loans $ 1,500 $ 977 Accruing loans delinquent 90 days or more 159 - Restructured loans, net - - Total nonperforming loans 1,659 977 Real estate owned and other repossessed assets, net 457 525 Total nonperforming assets $ 2,116 $ 1,502 Total nonperforming assets as a percentage of total assets 0.26 % 0.21 % Allowance for loan losses $ 6,150 $ 5,750 Percent of allowance for loan losses to nonperforming loans 370.71 % 588.54 % Percent of allowance for loan losses to nonperforming assets 290.64 % 382.82 % Allowance for loan losses activity was as follows: Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, April 1, 2018 $ 1,301 $ 3,202 $ 427 $ 200 $ 1,000 $ 6,130 Charge-offs - - - (23 ) (1 ) (24 ) Recoveries - 4 - 8 8 20 Provision - 24 - - - 24 Ending balance, June 30, 2018 $ 1,301 $ 3,230 $ 427 $ 185 $ 1,007 $ 6,150 Allowance for loan losses: Beginning balance, January 1, 2018 $ 1,301 $ 2,778 $ 506 $ 225 $ 940 $ 5,750 Charge-offs - - (80 ) (50 ) (24 ) (154 ) Recoveries - 7 1 10 10 28 Provision - 445 - - 81 526 Ending balance, June 30, 2018 $ 1,301 $ 3,230 $ 427 $ 185 $ 1,007 $ 6,150 Ending balance, June 30, 2018 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, June 30, 2018 allocated to loans collectively evaluated for impairment $ 1,301 $ 3,230 $ 427 $ 185 $ 1,007 $ 6,150 Loans receivable: Ending balance, June 30, 2018 $ 143,323 $ 281,525 $ 53,178 $ 16,635 $ 88,096 $ 582,757 Ending balance, June 30, 2018 of loans individually evaluated for impairment $ 573 $ 527 $ 207 $ 101 $ 92 $ 1,500 Ending balance, June 30, 2018 of loans collectively evaluated for impairment $ 142,750 $ 280,998 $ 52,971 $ 16,534 $ 88,004 $ 581,257 Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, April 1, 2017 $ 1,251 $ 2,278 $ 471 $ 210 $ 865 $ 5,075 Charge-offs - - - (90 ) (99 ) (189 ) Recoveries - - 34 3 - 37 Provision - 100 - 102 100 302 Ending balance, June 30, 2017 $ 1,251 $ 2,378 $ 505 $ 225 $ 866 $ 5,225 Allowance for loan losses: Beginning balance, January 1, 2017 $ 1,241 $ 2,079 $ 460 $ 193 $ 797 $ 4,770 Charge-offs - - - (99 ) (99 ) (198 ) Recoveries - - 39 11 - 50 Provision 10 299 6 120 168 603 Ending balance, June 30, 2017 $ 1,251 $ 2,378 $ 505 $ 225 $ 866 $ 5,225 Ending balance, June 30, 2017 allocated to loans individually evaluated for impairment $ - $ - $ - $ 38 $ - $ 38 Ending balance, June 30, 2017 allocated to loans collectively evaluated for impairment $ 1,251 $ 2,378 $ 505 $ 187 $ 866 $ 5,187 Loans receivable: Ending balance, June 30, 2017 $ 140,346 $ 246,005 $ 49,266 $ 15,293 $ 58,230 $ 509,140 Ending balance, June 30, 2017 of loans individually evaluated for impairment $ 500 $ 451 $ 305 $ 144 $ 211 $ 1,611 Ending balance, June 30, 2017 of loans collectively evaluated for impairment $ 139,846 $ 245,554 $ 48,961 $ 15,149 $ 58,019 $ 507,529 The Company utilizes an 8 Loans R ated Pass 1 5 Loans R ated Special Mention 6 may Loans R ated Substandard 7 not Loans R ated Doubtful 8 Loans R ated Loss not 8 not not no not may On an annual basis, or more often if needed, the Company formally reviews the ratings of all commercial real estate, construction, and commercial business loans that have a principal balance of $750,000 90 60 third Internal classification of the loan portfolio was as follows: June 30, 2018 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 111,190 $ - $ 1,124 $ - $ - $ 112,314 Residential 1-4 family construction 30,672 - 337 - - 31,009 Commercial real estate 213,816 - 2,448 - - 216,264 Commercial construction and development 36,581 - - - - 36,581 Farmland 28,680 - - - - 28,680 Other loans: Home equity 52,971 - 207 - - 53,178 Consumer 16,484 - 151 - - 16,635 Commercial 69,837 - 114 - - 69,951 Agricultural 17,747 - 398 - - 18,145 Total $ 577,978 $ - $ 4,779 $ - $ - $ 582,757 December 31, 2017 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 109,167 $ - $ 744 $ - $ - $ 109,911 Residential 1-4 family construction 24,850 - 456 - - 25,306 Commercial real estate 194,502 - 303 - - 194,805 Commercial construction and development 38,351 - - - - 38,351 Farmland 11,627 - - - - 11,627 Other loans: Home equity 52,430 - 242 - - 52,672 Consumer 15,549 - 136 - 27 15,712 Commercial 63,165 - 113 - 22 63,300 Agricultural 2,563 - - - - 2,563 Total $ 512,204 $ - $ 1,994 $ - $ 49 $ 514,247 Credit risk profile based on payment activity of the loan portfolio was as follows: June 30, 2018 Restructured Performing Loans Nonperforming Total (In Thousands) Real estate loans: Residential 1-4 family $ 111,948 $ - $ 366 $ 112,314 Residential 1-4 family construction 30,672 - 337 31,009 Commercial real estate 215,737 - 527 216,264 Commercial construction and development 36,581 - - 36,581 Farmland 28,680 - - 28,680 Other loans: Home equity 52,971 - 207 53,178 Consumer 16,534 - 101 16,635 Commercial 69,830 - 121 69,951 Agricultural 18,145 - - 18,145 Total $ 581,098 $ - $ 1,659 $ 582,757 December 31, 2017 Restructured Performing Loans Nonperforming Total (In Thousands) Real estate loans: Residential 1-4 family $ 109,436 $ - $ 475 $ 109,911 Residential 1-4 family construction 25,306 - - 25,306 Commercial real estate 194,805 - - 194,805 Commercial construction and development 38,351 - - 38,351 Farmland 11,627 - - 11,627 Other loans: Home equity 52,430 - 242 52,672 Consumer 15,559 - 153 15,712 Commercial 63,193 - 107 63,300 Agricultural 2,563 - - 2,563 Total $ 513,270 $ - $ 977 $ 514,247 The following tables include information regarding delinquencies within the loan portfolio. June 30, 2018 Loans Past Due and Still Accruing 90 Days 30-89 Days and Non-Accrual Current Total Past Due Greater Total Loans Loans Loans (In Thousands) Real estate loans: Residential 1-4 family $ 241 $ 130 $ 371 $ 236 $ 111,707 $ 112,314 Residential 1-4 family construction 531 - 531 337 30,141 31,009 Commercial real estate 822 - 822 527 214,915 216,264 Commercial construction and development 26 - 26 - 36,555 36,581 Farmland - - - 28,680 28,680 Other loans: Home equity 340 - 340 207 52,631 53,178 Consumer 211 - 211 101 16,323 16,635 Commercial 559 29 588 92 69,271 69,951 Agricultural - - - - 18,145 18,145 Total $ 2,730 $ 159 $ 2,889 $ 1,500 $ 578,368 $ 582,757 December 31, 2017 Loans Past Due and Still Accruing 90 Days 30-89 Days and Non-Accrual Current Total Past Due Greater Total Loans Loans Loans (In Thousands) Real estate loans: Residential 1-4 family $ 898 $ - $ 898 $ 475 $ 108,538 $ 109,911 Residential 1-4 family construction 409 - 409 - 24,897 25,306 Commercial real estate 291 - 291 - 194,514 194,805 Commercial construction and development - - - - 38,351 38,351 Farmland - - - - 11,627 11,627 Other loans: Home equity 212 - 212 242 52,218 52,672 Consumer 111 - 111 153 15,448 15,712 Commercial 116 - 116 107 63,077 63,300 Agricultural - - - - 2,563 2,563 Total $ 2,037 $ - $ 2,037 $ 977 $ 511,233 $ 514,247 The following tables include information regarding impaired loans. June 30, 2018 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) With no related allowance: Real estate loans: Residential 1-4 family $ 236 $ 254 $ - Residential 1-4 family construction 337 387 - Commercial real estate 527 528 - Commercial construction and development - - - Farmland - - - Other loans: Home equity 207 242 - Consumer 101 153 - Commercial 92 96 - Agricultural - - - With a related allowance: Real estate loans: Residential 1-4 family - - - Residential 1-4 family construction - - - Commercial real estate - - - Commercial construction and development - - - Farmland - - - Other loans: Home equity - - - Consumer - - - Commercial - - - Agricultural - - - Total: Real estate loans: Residential 1-4 family 236 254 - Residential 1-4 family construction 337 387 - Commercial real estate 527 528 - Commercial construction and development - - - Farmland - - - Other loans: Home equity 207 242 - Consumer 101 153 - Commercial 92 96 - Agricultural - - - Total $ 1,500 $ 1,660 $ - December 31, 2017 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) With no related allowance: Real estate loans: Residential 1-4 family $ 475 $ 487 $ - Residential 1-4 family construction - - - Commercial real estate - - - Commercial construction and development - - - Farmland - - - Other loans: Home equity 242 263 - Consumer 126 176 - Commercial 85 87 - Agricultural - - - With a related allowance: Real estate loans: Residential 1-4 family - - - Residential 1-4 family construction - - - Commercial real estate - - - Commercial construction and development - - - Farmland - - - Other loans: Home equity - - - Consumer 27 27 27 Commercial 22 22 22 Agricultural - - - Total: Real estate loans: Residential 1-4 family 475 487 - Residential 1-4 family construction - - - Commercial real estate - - - Commercial construction and development - - - Farmland - - - Other loans: Home equity 242 263 - Consumer 153 203 27 Commercial 107 109 22 Agricultural - - - Total $ 977 $ 1,062 $ 49 Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Average Recorded Investment (In Thousands) Real estate loans: Residential 1-4 family $ 553 $ 360 $ 356 $ 360 Residential 1-4 family construction 396 - 168 - Commercial real estate 1,026 226 264 226 Commercial construction and development - - - - Farmland - - - - Other loans: Home equity 224 320 225 323 Consumer 105 140 127 120 Commercial 127 179 99 105 Agricultural - - - - Total $ 2,431 $ 1,225 $ 1,239 $ 1,134 Interest income recognized on impaired loans for the three six June 30, 2018 2017 |
Note 4 - Troubled Debt Restruct
Note 4 - Troubled Debt Restructurings | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Troubled Debt Restructurings [Text Block] | NOTE 4 . TROUBLE D DEBT RESTRUCTURINGS A troubled debt restructured (“TDR”) loan is a loan in which the Bank grants a concession to the borrower that it would not not 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 Company previously had one December 31, 2016 $43,000 $34,000 $42,000 June 30, 2017 $34,000 During the six June 30, 2018, no The Bank’s policy is that loans placed on non-accrual will typically remain on non-accrual status until all principal and interest payments are brought current and the prospect for future payment in accordance with the loan agreement appears relatively certain. The Bank’s policy generally refers to six There were no six six June 30, 2018. 90 As of June 30, 2018 December 31, 2017, no |
Note 5 - Deposits
Note 5 - Deposits | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 5 . DEPOSITS Deposits are summarized as follows: June 30, December 31, 2018 2017 (In Thousands) Noninterest checking $ 133,736 $ 99,799 Interest bearing checking 101,085 99,255 Savings 108,544 88,603 Money market 106,547 89,558 Time certificates of deposit 163,263 143,349 Total $ 613,175 $ 520,564 |
Note 6 - Other Long-term Debt
Note 6 - Other Long-term Debt | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 6 . OTHER L ONG-TERM DEBT Other long-term debt consisted of the following: June 30, 2018 December 31, 2017 Unamortized Unamortized Debt Debt Principal Issuance Principal Issuance Amount Costs Amount Costs (In Thousands) Senior notes fixed at 5.75%, due 2022 $ 10,000 $ (158 ) $ 10,000 $ (180 ) Subordinated debentures fixed at 6.75%, due 2025 10,000 (154 ) 10,000 (164 ) Subordinated debentures variable at 3-Month Libor plus 1.42%, due 2035 5,155 - 5,155 - Total other long-term debt $ 25,155 $ (312 ) $ 25,155 $ (344 ) In February 2017, $10,000,000 5.75% 2022. not In June 2015, $10,000,000 2025 6.75% In September 2005, $5,155,000 $5,155,000. December 2005. 6.02% December 2010 3 1.42%, 3.756% 3.114% June 30, 2018 December 31, 2017, may five December 2035 For the three June 30, 2018 2017, $357,000 $347,000, six June 30, 2018 2017, $704,000 $619,000, |
Note 7 - Earnings Per Share
Note 7 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 7 . EARNINGS PER SHARE Basic earnings per share for the three June 30, 2018 5,460,452 three June 30, 2017 3,811,409 5,524,912 three June 30, 2018 3,869,885 three June 30, 2017. Basic earnings per share for the six June 30, 2018 5,386,401 six June 30, 2017 3,811,409 5,450,861 six June 30, 2018 3,872,765 six June 30, 2017. |
Note 8 - Dividends and Stock Re
Note 8 - Dividends and Stock Repurchase Program | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8 . DIVIDENDS AND STOCK REPURCHASE PROGRAM For the year ended December 31, 2017, $0.08 March 31 June 30, 2017. $0.09 September 30 December 31, 2017. $0.09 January 25, 2018 March 1, 2018 February 9, 2018. $0.09 April 19, 2018 June 1, 2018 May 11, 2018. $0.0925 July 19, 2018, September 7, 2018 August 17, 2018. On July 19, 2018, 100,000 may July 19, 2019. On July 20, 2017, 100,000 No July 20, 2018. On July 21, 2016, 100,000 No July 21, 2017. |
Note 9 - Accumulated Other Comp
Note 9 - Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 9 . ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table includes information regarding the activity in accumulated other comprehensive income (loss). Unrealized Unrealized Gains (Losses) Gains (Losses) on Derivatives on Investment Designated as Securities Cash Flow Hedges Available-for-Sale Total (In Thousands) Balance, January 1, 2018 $ 234 $ 79 $ 313 Other comprehensive income (loss), before reclassifications and income taxes 262 (2,583 ) (2,321 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (325 ) 105 (220 ) Income tax benefit 17 660 677 Total other comprehensive loss (46 ) (1,818 ) (1,864 ) Balance, March 31, 2018 188 (1,739 ) (1,551 ) Other comprehensive income (loss), before reclassifications and income taxes 402 (216 ) 186 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (262 ) (15 ) (277 ) Income tax (expense) benefit (37 ) 60 23 Total other comprehensive income (loss) 103 (171 ) (68 ) Balance, June 30, 2018 $ 291 $ (1,910 ) $ (1,619 ) Balance, January 1, 2017 $ 330 $ (741 ) $ (411 ) Other comprehensive income, before reclassifications and income taxes 341 279 620 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (558 ) - (558 ) Income tax benefit (expense) 88 (113 ) (25 ) Total other comprehensive (loss) income (129 ) 166 37 Balance, March 31, 2017 201 (575 ) (374 ) Other comprehensive income, before reclassifications and income taxes 657 1,775 2,432 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (341 ) 14 (327 ) Income tax expense (128 ) (730 ) (858 ) Total other comprehensive income 188 1,059 1,247 Balance, June 30, 2017 $ 389 $ 484 $ 873 |
Note 10 - Derivatives and Hedgi
Note 10 - Derivatives and Hedging Activities | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 1 0 . D ERIVATIVES AND HEDGING ACTIVITIES Mortgage Loan Commitments 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 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 market. A mortgage loan commitment binds the Company to lend funds to a potential borrower at a specified interest rate and within a specified period of time, generally up to 60 Interest Rate Lock Commitments Outstanding derivative loan commitments expose the Company 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 $33,997,000 $15,338,000 June 30, 2018 December 31, 2017, The Company has no not |
Note 11 - Fair Value Disclosure
Note 11 - Fair Value Disclosures | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | NOTE 1 1 . FAIR VALUE DISCLOSURES FASB ASC 820 not not FASB ASC 820 Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may 820 The fair value hierarchy is as follows: Level 1 Level 2 1 not 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 may Available-for- Sale Securities 1 2 may Impaired Loans 3 Loans Held-for- Sale 2 Repossessed Assets third 3 The following tables summarize financial assets and financial 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. June 30, 2018 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 obligations $ - $ 10,508 $ - $ 10,508 Municipal obligations - 73,889 - 73,889 Corporate obligations - 12,692 - 12,692 Mortgage-backed securities - 22,477 - 22,477 Collateralized mortgage obligations - 24,370 - 24,370 Asset-backed securities - 10,329 - 10,329 Loans held-for-sale - 11,700 - 11,700 December 31, 2017 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 $ - $ 4,857 $ - $ 4,857 Municipal obligations - 67,886 - 67,886 Corporate obligations - 14,644 - 14,644 Mortgage-backed securities - 24,869 - 24,869 Collateralized mortgage obligations - 19,788 - 19,788 Asset-backed securities - - - - Loans held-for-sale - 8,949 - 8,949 Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not The following table summarizes financial assets and financial 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: June 30, 2018 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 1,500 $ 1,500 Repossessed assets - - 457 457 December 31, 2017 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 928 $ 928 Repossessed assets - - 525 525 As of June 30, 2018, $1,500,000 not $1,500,000 3 As of December 31, 2017, $977,000 $49,000 $928,000 3 The following table represents the Banks’s Level 3 Fair Value at Principal Significant Range of June 30, December 31, Valuation Unobservable Signficant Input Instrument 2018 2017 Technique Inputs Values (Dollars In Thousands) Impaired loans $ 1,500 $ 928 Appraisal of collateral (1) Appraisal adjustments 10 - 30% Repossessed assets $ 457 $ 525 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 not ( 2 Appraisals may ( 3 Includes qualitative adjustments by management and estimated liquidation expenses. FASB ASC Topic 825 not The estimated 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 may June 30, 2018 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 8,980 $ - $ - $ 8,980 $ 8,980 Federal Home Loan Bank stock 4,559 - - 4,559 4,559 Federal Reserve Bank stock 2,019 - - 2,019 2,019 Loans receivable, net - - 570,519 570,519 574,078 Accrued interest and dividends receivable 3,668 - - 3,668 3,668 Mortgage servicing rights - - 8,068 8,068 6,716 Cash surrender value of life insurance 14,670 - - 14,670 14,670 Financial liabilities: Non-maturing interest bearing deposits - 316,176 - 316,176 316,176 Noninterest bearing deposits 133,736 - - 133,736 133,736 Time certificates of deposit - - 161,337 161,337 163,263 Accrued expenses and other liabilities 5,535 - - 5,535 5,535 Federal Home Loan Bank advances and other borrowings - - 90,838 90,838 91,469 Other long-term debt - - 23,760 23,760 25,155 Off-balance-sheet instruments - Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - December 31, 2017 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 7,437 $ - $ - $ 7,437 $ 7,437 Federal Home Loan Bank stock 4,086 - - 4,086 4,086 Federal Reserve Bank stock 1,465 - - 1,465 1,465 Loans receivable, net - - 505,615 505,615 506,476 Accrued interest and dividends receivable 2,555 - - 2,555 2,555 Mortgage servicing rights - - 7,312 7,312 6,578 Cash surrender value of life insurance 14,481 - - 14,481 14,481 Financial liabilities: Non-maturing interest bearing deposits - 277,416 - 277,416 277,416 Noninterest bearing deposits 99,799 - - 99,799 99,799 Time certificates of deposit - - 142,202 142,202 143,349 Accrued expenses and other liabilities 4,822 - - 4,822 4,822 Federal Home Loan Bank advances and other borrowings - - 82,579 82,579 82,969 Other long-term debt - - 24,209 24,209 25,155 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. However, the Form 10 December 31, 2017 Cash, Interest B earing A ccounts, Accrued I nterest and D ividend R eceivable and A ccrued E xpenses an d Other L iabilities Stock in the F ederal Home L oan B ank of Des Moines (“FHLB”) and F ederal R eserve B ank (“FRB”) Loans R eceivable 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. Mortgage S ervicing R ights 12.50% 80.00% 241.00% 120.00% 1.25% Cash Surrender Value of Life I nsurance Deposits and T ime C ertificates of D eposit no Advances from the FHLB /Other Borrowings and Other Long-Term Debt June 30, 2018 December 31, 2017, Off-Balance-Sheet I nstruments no |
Note 12 - Mergers and Acquisiti
Note 12 - Mergers and Acquisitions | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 12. On September 5, 2017, 100% 2 January 31, 2018, $18,930,000 $9,900,000 $9,030,000. The transaction was accounted for under the acquisition method of accounting in accordance with FASB ASC 805, not Under FASB ASC 805, not not Assets acquired and liabilities assumed were recorded on the consolidated statement of financial condition at estimated fair value on acquisition date. The following table summarizes fair values of assets acquired and liabilities assumed, consideration paid and resulting goodwill. January 31, 2018 (In Thousands, Except Share Data) Assets acquired: Cash and cash equivalents $ 5,657 Investment securities 30,728 Loans 55,057 Premises and equipment 1,605 Other real estate owned 135 Core deposit intangible 1,609 Other assets 1,258 Total assets acquired $ 96,049 Liabilities assumed: Deposits $ 82,190 Accrued expenses and other liabilities 19 Total liabilities assumed $ 82,209 Net assets acquired $ 13,840 Consideration paid: Cash $ 9,900 Common stock issued (446,774 shares) 9,030 Total consideration paid $ 18,930 Goodwill resulting from acquisition $ 5,090 The fair value analysis of the loan portfolio resulted in a valuation adjustment for each loan based on an amortization schedule of expected cash flow. Individual amortization schedules were used for each loan over a certain amount and those with specifically identified loss exposure. The remainder of the loans were grouped by type and risk rating into loan pools (based on loans type, fixed or variable interest rate, revolving or term payments and risk rating). Yield inputs for the amortization schedules included contractual interest rates, estimated prepayment speeds, liquidity adjustments and market yields. Credit inputs for the amortization schedules included probability of payment default, loss given default rates and individually identified loss exposure. Information regarding loans acquired as of acquisition date is as follows: January 31, 2018 (In Thousands) Contractually required principal and interest at acquisition $ 56,891 Contractual cash flows not expected to be collected (nonaccretable discount) (1,346 ) Expected cash flows at acquisition 55,545 Interest component of expected cash flows (accretable discount) (488 ) Fair value of acquired loans $ 55,057 Core deposit intangible assets of $1,609,000 10 The core deposit intangible value is a function of the difference between the cost of the acquired core deposits and the alternative cost of funds. This cash flow stream was discounted to present value. The fair value of other deposit accounts acquired were valued by estimating future cash flows to be received or paid from individual or homogenous groups of assets and liabilities and then discounting those cash flows to a present value using rates of return that were available in financial markets for similar financial instruments on or near January 31, 2018. Direct costs related to the acquisition were expensed as incurred. The Company recorded acquisition costs of $131,000 June 30, 2018, $234,000 March 31, 2018 $676,000 December 31, 2017. Operations of TwinCo have been included in the consolidated financial statements since February 1, 2018. not not February 1, 2018 June 30, 2018. The accompanying consolidated statements of income include the results of operations of the acquired entity since the January 31, 2018 three six June 30, 2018 2017 January 1, 2017. not January 1, 2017. not three six June 30, 2018 2017. Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 (Dollars in Thousands, Except Per Share Data) Pro forma net income (1) Net interest income after loan loss provision $ 7,786 $ 6,506 $ 14,414 $ 12,616 Noninterest income 3,084 3,651 5,798 6,940 Noninterest expense 9,244 8,293 17,719 16,404 Income before income taxes 1,626 1,864 2,493 3,152 Income tax expense 293 522 466 883 Net income $ 1,333 $ 1,342 $ 2,027 $ 2,269 Pro forma earnings per share (1) Basic earnings per share $ 0.24 $ 0.35 $ 0.38 $ 0.60 Diluted earnings per share $ 0.24 $ 0.35 $ 0.37 $ 0.59 Weighted average shares outstanding, basic 5,460,452 3,811,409 5,386,401 3,811,409 Weighted average shares outstanding, diluted 5,524,912 3,869,885 5,450,861 3,872,765 ( 1 Significant assumptions utilized include the acquisition cost noted above, accretion of interest rate fair value adjustments, amortization of the core deposit intangible asset and a 28.00% 2017. |
Note 13 - Recent Accounting Pro
Note 13 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 1 3 . RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, No. 2014 09, 606 may July 2015, one first 2018 2014 09, No not In January 2016, No. 2016 01, 825 10 December 15, 2017 first 2018. 11. June 30, 2018, In February 2016, No. 2016 02, 842 12 December 15, 2018, four 2027. third In September 2016, No. 2016 13, 326 December 15, 2019, may December 15, 2018, first In January 2017, No. 2017 04, 350 2 January 1, 2020 not In March 2017, No. 2017 08, 310 20 not December 15, 2018, not |
Note 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Marketable Securities [Table Text Block] | June 30, 2018 December 31, 2017 Gross Gross Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains (Losses) Value Cost Gains (Losses) Value (In Thousands) Available-for-Sale: U.S. government and agency obligations $ 10,650 $ - $ (142 ) $ 10,508 $ 4,881 $ 13 $ (37 ) $ 4,857 Municipal obligations 75,102 193 (1,406 ) 73,889 67,508 807 (429 ) 67,886 Corporate obligations 12,931 18 (257 ) 12,692 14,725 18 (99 ) 14,644 Mortgage-backed securities 22,676 195 (394 ) 22,477 24,770 364 (265 ) 24,869 Collateralized mortgage obligations 25,083 2 (715 ) 24,370 20,051 7 (270 ) 19,788 Asset-backed securities 10,423 - (94 ) 10,329 - - - - Total $ 156,865 $ 408 $ (3,008 ) $ 154,265 $ 131,935 $ 1,209 $ (1,100 ) $ 132,044 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 (In Thousands) Proceeds from sale of available-for-sale securities $ 19,086 $ 2,749 $ 45,080 $ 2,749 Gross realized gain on sale of available-for-sale securities $ 191 $ 14 $ 191 $ 14 Gross realized loss on sale of available-for-sale securities (176 ) (28 ) (281 ) (28 ) Net realized gain (loss) on sale of available-for-sale securities $ 15 $ (14 ) $ (90 ) $ (14 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | June 30, 2018 Amortized Fair Cost Value (In Thousands) Due in one year or less $ 1,756 $ 1,756 Due from one to five years 18,416 18,096 Due from five to ten years 14,265 14,021 Due after ten years 74,669 73,545 109,106 107,418 Mortgage-backed securities 22,676 22,477 Collateralized mortgage obligations 25,083 24,370 Total $ 156,865 $ 154,265 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2018 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 $ 9,243 $ (98 ) $ 1,264 $ (44 ) Municipal obligations 41,534 (680 ) 14,236 (726 ) Corporate obligations 7,687 (243 ) 987 (14 ) Mortgage-backed securities and collateralized mortgage obligations 16,641 (427 ) 15,640 (682 ) Asset-backed securities 10,329 (94 ) - - Total $ 85,434 $ (1,542 ) $ 32,127 $ (1,466 ) December 31, 2017 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 $ 2,943 $ (14 ) $ 1,363 $ (23 ) Municipal obligations 15,404 (87 ) 16,675 (342 ) Corporate obligations 7,643 (71 ) 3,981 (28 ) Mortgage-backed securities and collateralized mortgage obligations 9,107 (81 ) 21,653 (454 ) Asset-backed securities - - - - Total $ 35,097 $ (253 ) $ 43,672 $ (847 ) |
Note 3 - Loans Receivable (Tabl
Note 3 - Loans Receivable (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2018 2017 (In Thousands) Real estate loans: Residential 1-4 family $ 143,323 $ 135,217 Commercial real estate 281,525 244,783 Other loans: Home equity 53,178 52,672 Consumer 16,635 15,712 Commercial 88,096 65,863 Total 582,757 514,247 Deferred loan fees, net (1,029 ) (1,093 ) Allowance for loan losses (6,150 ) (5,750 ) Total loans, net $ 575,578 $ 507,404 |
Schedule of Information Regarding Non-performing Assets [Table Text Block] | June 30, December 31, 2018 2017 (Dollars in Thousands) Non-accrual loans $ 1,500 $ 977 Accruing loans delinquent 90 days or more 159 - Restructured loans, net - - Total nonperforming loans 1,659 977 Real estate owned and other repossessed assets, net 457 525 Total nonperforming assets $ 2,116 $ 1,502 Total nonperforming assets as a percentage of total assets 0.26 % 0.21 % Allowance for loan losses $ 6,150 $ 5,750 Percent of allowance for loan losses to nonperforming loans 370.71 % 588.54 % Percent of allowance for loan losses to nonperforming assets 290.64 % 382.82 % |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, April 1, 2018 $ 1,301 $ 3,202 $ 427 $ 200 $ 1,000 $ 6,130 Charge-offs - - - (23 ) (1 ) (24 ) Recoveries - 4 - 8 8 20 Provision - 24 - - - 24 Ending balance, June 30, 2018 $ 1,301 $ 3,230 $ 427 $ 185 $ 1,007 $ 6,150 Allowance for loan losses: Beginning balance, January 1, 2018 $ 1,301 $ 2,778 $ 506 $ 225 $ 940 $ 5,750 Charge-offs - - (80 ) (50 ) (24 ) (154 ) Recoveries - 7 1 10 10 28 Provision - 445 - - 81 526 Ending balance, June 30, 2018 $ 1,301 $ 3,230 $ 427 $ 185 $ 1,007 $ 6,150 Ending balance, June 30, 2018 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, June 30, 2018 allocated to loans collectively evaluated for impairment $ 1,301 $ 3,230 $ 427 $ 185 $ 1,007 $ 6,150 Loans receivable: Ending balance, June 30, 2018 $ 143,323 $ 281,525 $ 53,178 $ 16,635 $ 88,096 $ 582,757 Ending balance, June 30, 2018 of loans individually evaluated for impairment $ 573 $ 527 $ 207 $ 101 $ 92 $ 1,500 Ending balance, June 30, 2018 of loans collectively evaluated for impairment $ 142,750 $ 280,998 $ 52,971 $ 16,534 $ 88,004 $ 581,257 Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, April 1, 2017 $ 1,251 $ 2,278 $ 471 $ 210 $ 865 $ 5,075 Charge-offs - - - (90 ) (99 ) (189 ) Recoveries - - 34 3 - 37 Provision - 100 - 102 100 302 Ending balance, June 30, 2017 $ 1,251 $ 2,378 $ 505 $ 225 $ 866 $ 5,225 Allowance for loan losses: Beginning balance, January 1, 2017 $ 1,241 $ 2,079 $ 460 $ 193 $ 797 $ 4,770 Charge-offs - - - (99 ) (99 ) (198 ) Recoveries - - 39 11 - 50 Provision 10 299 6 120 168 603 Ending balance, June 30, 2017 $ 1,251 $ 2,378 $ 505 $ 225 $ 866 $ 5,225 Ending balance, June 30, 2017 allocated to loans individually evaluated for impairment $ - $ - $ - $ 38 $ - $ 38 Ending balance, June 30, 2017 allocated to loans collectively evaluated for impairment $ 1,251 $ 2,378 $ 505 $ 187 $ 866 $ 5,187 Loans receivable: Ending balance, June 30, 2017 $ 140,346 $ 246,005 $ 49,266 $ 15,293 $ 58,230 $ 509,140 Ending balance, June 30, 2017 of loans individually evaluated for impairment $ 500 $ 451 $ 305 $ 144 $ 211 $ 1,611 Ending balance, June 30, 2017 of loans collectively evaluated for impairment $ 139,846 $ 245,554 $ 48,961 $ 15,149 $ 58,019 $ 507,529 |
Financing Receivable Credit Quality Indicators [Table Text Block] | June 30, 2018 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 111,190 $ - $ 1,124 $ - $ - $ 112,314 Residential 1-4 family construction 30,672 - 337 - - 31,009 Commercial real estate 213,816 - 2,448 - - 216,264 Commercial construction and development 36,581 - - - - 36,581 Farmland 28,680 - - - - 28,680 Other loans: Home equity 52,971 - 207 - - 53,178 Consumer 16,484 - 151 - - 16,635 Commercial 69,837 - 114 - - 69,951 Agricultural 17,747 - 398 - - 18,145 Total $ 577,978 $ - $ 4,779 $ - $ - $ 582,757 December 31, 2017 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 109,167 $ - $ 744 $ - $ - $ 109,911 Residential 1-4 family construction 24,850 - 456 - - 25,306 Commercial real estate 194,502 - 303 - - 194,805 Commercial construction and development 38,351 - - - - 38,351 Farmland 11,627 - - - - 11,627 Other loans: Home equity 52,430 - 242 - - 52,672 Consumer 15,549 - 136 - 27 15,712 Commercial 63,165 - 113 - 22 63,300 Agricultural 2,563 - - - - 2,563 Total $ 512,204 $ - $ 1,994 $ - $ 49 $ 514,247 June 30, 2018 Restructured Performing Loans Nonperforming Total (In Thousands) Real estate loans: Residential 1-4 family $ 111,948 $ - $ 366 $ 112,314 Residential 1-4 family construction 30,672 - 337 31,009 Commercial real estate 215,737 - 527 216,264 Commercial construction and development 36,581 - - 36,581 Farmland 28,680 - - 28,680 Other loans: Home equity 52,971 - 207 53,178 Consumer 16,534 - 101 16,635 Commercial 69,830 - 121 69,951 Agricultural 18,145 - - 18,145 Total $ 581,098 $ - $ 1,659 $ 582,757 December 31, 2017 Restructured Performing Loans Nonperforming Total (In Thousands) Real estate loans: Residential 1-4 family $ 109,436 $ - $ 475 $ 109,911 Residential 1-4 family construction 25,306 - - 25,306 Commercial real estate 194,805 - - 194,805 Commercial construction and development 38,351 - - 38,351 Farmland 11,627 - - 11,627 Other loans: Home equity 52,430 - 242 52,672 Consumer 15,559 - 153 15,712 Commercial 63,193 - 107 63,300 Agricultural 2,563 - - 2,563 Total $ 513,270 $ - $ 977 $ 514,247 |
Past Due Financing Receivables [Table Text Block] | June 30, 2018 Loans Past Due and Still Accruing 90 Days 30-89 Days and Non-Accrual Current Total Past Due Greater Total Loans Loans Loans (In Thousands) Real estate loans: Residential 1-4 family $ 241 $ 130 $ 371 $ 236 $ 111,707 $ 112,314 Residential 1-4 family construction 531 - 531 337 30,141 31,009 Commercial real estate 822 - 822 527 214,915 216,264 Commercial construction and development 26 - 26 - 36,555 36,581 Farmland - - - 28,680 28,680 Other loans: Home equity 340 - 340 207 52,631 53,178 Consumer 211 - 211 101 16,323 16,635 Commercial 559 29 588 92 69,271 69,951 Agricultural - - - - 18,145 18,145 Total $ 2,730 $ 159 $ 2,889 $ 1,500 $ 578,368 $ 582,757 December 31, 2017 Loans Past Due and Still Accruing 90 Days 30-89 Days and Non-Accrual Current Total Past Due Greater Total Loans Loans Loans (In Thousands) Real estate loans: Residential 1-4 family $ 898 $ - $ 898 $ 475 $ 108,538 $ 109,911 Residential 1-4 family construction 409 - 409 - 24,897 25,306 Commercial real estate 291 - 291 - 194,514 194,805 Commercial construction and development - - - - 38,351 38,351 Farmland - - - - 11,627 11,627 Other loans: Home equity 212 - 212 242 52,218 52,672 Consumer 111 - 111 153 15,448 15,712 Commercial 116 - 116 107 63,077 63,300 Agricultural - - - - 2,563 2,563 Total $ 2,037 $ - $ 2,037 $ 977 $ 511,233 $ 514,247 |
Impaired Financing Receivables [Table Text Block] | June 30, 2018 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) With no related allowance: Real estate loans: Residential 1-4 family $ 236 $ 254 $ - Residential 1-4 family construction 337 387 - Commercial real estate 527 528 - Commercial construction and development - - - Farmland - - - Other loans: Home equity 207 242 - Consumer 101 153 - Commercial 92 96 - Agricultural - - - With a related allowance: Real estate loans: Residential 1-4 family - - - Residential 1-4 family construction - - - Commercial real estate - - - Commercial construction and development - - - Farmland - - - Other loans: Home equity - - - Consumer - - - Commercial - - - Agricultural - - - Total: Real estate loans: Residential 1-4 family 236 254 - Residential 1-4 family construction 337 387 - Commercial real estate 527 528 - Commercial construction and development - - - Farmland - - - Other loans: Home equity 207 242 - Consumer 101 153 - Commercial 92 96 - Agricultural - - - Total $ 1,500 $ 1,660 $ - December 31, 2017 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) With no related allowance: Real estate loans: Residential 1-4 family $ 475 $ 487 $ - Residential 1-4 family construction - - - Commercial real estate - - - Commercial construction and development - - - Farmland - - - Other loans: Home equity 242 263 - Consumer 126 176 - Commercial 85 87 - Agricultural - - - With a related allowance: Real estate loans: Residential 1-4 family - - - Residential 1-4 family construction - - - Commercial real estate - - - Commercial construction and development - - - Farmland - - - Other loans: Home equity - - - Consumer 27 27 27 Commercial 22 22 22 Agricultural - - - Total: Real estate loans: Residential 1-4 family 475 487 - Residential 1-4 family construction - - - Commercial real estate - - - Commercial construction and development - - - Farmland - - - Other loans: Home equity 242 263 - Consumer 153 203 27 Commercial 107 109 22 Agricultural - - - Total $ 977 $ 1,062 $ 49 Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Average Recorded Investment (In Thousands) Real estate loans: Residential 1-4 family $ 553 $ 360 $ 356 $ 360 Residential 1-4 family construction 396 - 168 - Commercial real estate 1,026 226 264 226 Commercial construction and development - - - - Farmland - - - - Other loans: Home equity 224 320 225 323 Consumer 105 140 127 120 Commercial 127 179 99 105 Agricultural - - - - Total $ 2,431 $ 1,225 $ 1,239 $ 1,134 |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | June 30, December 31, 2018 2017 (In Thousands) Noninterest checking $ 133,736 $ 99,799 Interest bearing checking 101,085 99,255 Savings 108,544 88,603 Money market 106,547 89,558 Time certificates of deposit 163,263 143,349 Total $ 613,175 $ 520,564 |
Note 6 - Other Long-term Debt (
Note 6 - Other Long-term Debt (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | June 30, 2018 December 31, 2017 Unamortized Unamortized Debt Debt Principal Issuance Principal Issuance Amount Costs Amount Costs (In Thousands) Senior notes fixed at 5.75%, due 2022 $ 10,000 $ (158 ) $ 10,000 $ (180 ) Subordinated debentures fixed at 6.75%, due 2025 10,000 (154 ) 10,000 (164 ) Subordinated debentures variable at 3-Month Libor plus 1.42%, due 2035 5,155 - 5,155 - Total other long-term debt $ 25,155 $ (312 ) $ 25,155 $ (344 ) |
Note 9 - Accumulated Other Co27
Note 9 - Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Unrealized Gains (Losses) Gains (Losses) on Derivatives on Investment Designated as Securities Cash Flow Hedges Available-for-Sale Total (In Thousands) Balance, January 1, 2018 $ 234 $ 79 $ 313 Other comprehensive income (loss), before reclassifications and income taxes 262 (2,583 ) (2,321 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (325 ) 105 (220 ) Income tax benefit 17 660 677 Total other comprehensive loss (46 ) (1,818 ) (1,864 ) Balance, March 31, 2018 188 (1,739 ) (1,551 ) Other comprehensive income (loss), before reclassifications and income taxes 402 (216 ) 186 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (262 ) (15 ) (277 ) Income tax (expense) benefit (37 ) 60 23 Total other comprehensive income (loss) 103 (171 ) (68 ) Balance, June 30, 2018 $ 291 $ (1,910 ) $ (1,619 ) Balance, January 1, 2017 $ 330 $ (741 ) $ (411 ) Other comprehensive income, before reclassifications and income taxes 341 279 620 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (558 ) - (558 ) Income tax benefit (expense) 88 (113 ) (25 ) Total other comprehensive (loss) income (129 ) 166 37 Balance, March 31, 2017 201 (575 ) (374 ) Other comprehensive income, before reclassifications and income taxes 657 1,775 2,432 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (341 ) 14 (327 ) Income tax expense (128 ) (730 ) (858 ) Total other comprehensive income 188 1,059 1,247 Balance, June 30, 2017 $ 389 $ 484 $ 873 |
Note 11 - Fair Value Disclosu28
Note 11 - Fair Value Disclosures (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | June 30, 2018 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 obligations $ - $ 10,508 $ - $ 10,508 Municipal obligations - 73,889 - 73,889 Corporate obligations - 12,692 - 12,692 Mortgage-backed securities - 22,477 - 22,477 Collateralized mortgage obligations - 24,370 - 24,370 Asset-backed securities - 10,329 - 10,329 Loans held-for-sale - 11,700 - 11,700 December 31, 2017 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 $ - $ 4,857 $ - $ 4,857 Municipal obligations - 67,886 - 67,886 Corporate obligations - 14,644 - 14,644 Mortgage-backed securities - 24,869 - 24,869 Collateralized mortgage obligations - 19,788 - 19,788 Asset-backed securities - - - - Loans held-for-sale - 8,949 - 8,949 |
Fair Value Measurements, Nonrecurring [Table Text Block] | June 30, 2018 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 1,500 $ 1,500 Repossessed assets - - 457 457 December 31, 2017 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 928 $ 928 Repossessed assets - - 525 525 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Fair Value at Principal Significant Range of June 30, December 31, Valuation Unobservable Signficant Input Instrument 2018 2017 Technique Inputs Values (Dollars In Thousands) Impaired loans $ 1,500 $ 928 Appraisal of collateral (1) Appraisal adjustments 10 - 30% Repossessed assets $ 457 $ 525 Appraisal of collateral (1)(3) Liquidation expenses (2) 10 - 30% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2018 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 8,980 $ - $ - $ 8,980 $ 8,980 Federal Home Loan Bank stock 4,559 - - 4,559 4,559 Federal Reserve Bank stock 2,019 - - 2,019 2,019 Loans receivable, net - - 570,519 570,519 574,078 Accrued interest and dividends receivable 3,668 - - 3,668 3,668 Mortgage servicing rights - - 8,068 8,068 6,716 Cash surrender value of life insurance 14,670 - - 14,670 14,670 Financial liabilities: Non-maturing interest bearing deposits - 316,176 - 316,176 316,176 Noninterest bearing deposits 133,736 - - 133,736 133,736 Time certificates of deposit - - 161,337 161,337 163,263 Accrued expenses and other liabilities 5,535 - - 5,535 5,535 Federal Home Loan Bank advances and other borrowings - - 90,838 90,838 91,469 Other long-term debt - - 23,760 23,760 25,155 Off-balance-sheet instruments - Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - December 31, 2017 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 7,437 $ - $ - $ 7,437 $ 7,437 Federal Home Loan Bank stock 4,086 - - 4,086 4,086 Federal Reserve Bank stock 1,465 - - 1,465 1,465 Loans receivable, net - - 505,615 505,615 506,476 Accrued interest and dividends receivable 2,555 - - 2,555 2,555 Mortgage servicing rights - - 7,312 7,312 6,578 Cash surrender value of life insurance 14,481 - - 14,481 14,481 Financial liabilities: Non-maturing interest bearing deposits - 277,416 - 277,416 277,416 Noninterest bearing deposits 99,799 - - 99,799 99,799 Time certificates of deposit - - 142,202 142,202 143,349 Accrued expenses and other liabilities 4,822 - - 4,822 4,822 Federal Home Loan Bank advances and other borrowings - - 82,579 82,579 82,969 Other long-term debt - - 24,209 24,209 25,155 Off-balance-sheet instruments Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - |
Note 12 - Mergers and Acquisi29
Note 12 - Mergers and Acquisitions (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | January 31, 2018 (In Thousands, Except Share Data) Assets acquired: Cash and cash equivalents $ 5,657 Investment securities 30,728 Loans 55,057 Premises and equipment 1,605 Other real estate owned 135 Core deposit intangible 1,609 Other assets 1,258 Total assets acquired $ 96,049 Liabilities assumed: Deposits $ 82,190 Accrued expenses and other liabilities 19 Total liabilities assumed $ 82,209 Net assets acquired $ 13,840 Consideration paid: Cash $ 9,900 Common stock issued (446,774 shares) 9,030 Total consideration paid $ 18,930 Goodwill resulting from acquisition $ 5,090 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | January 31, 2018 (In Thousands) Contractually required principal and interest at acquisition $ 56,891 Contractual cash flows not expected to be collected (nonaccretable discount) (1,346 ) Expected cash flows at acquisition 55,545 Interest component of expected cash flows (accretable discount) (488 ) Fair value of acquired loans $ 55,057 |
Business Acquisition, Pro Forma Information [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 (Dollars in Thousands, Except Per Share Data) Pro forma net income (1) Net interest income after loan loss provision $ 7,786 $ 6,506 $ 14,414 $ 12,616 Noninterest income 3,084 3,651 5,798 6,940 Noninterest expense 9,244 8,293 17,719 16,404 Income before income taxes 1,626 1,864 2,493 3,152 Income tax expense 293 522 466 883 Net income $ 1,333 $ 1,342 $ 2,027 $ 2,269 Pro forma earnings per share (1) Basic earnings per share $ 0.24 $ 0.35 $ 0.38 $ 0.60 Diluted earnings per share $ 0.24 $ 0.35 $ 0.37 $ 0.59 Weighted average shares outstanding, basic 5,460,452 3,811,409 5,386,401 3,811,409 Weighted average shares outstanding, diluted 5,524,912 3,869,885 5,450,861 3,872,765 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) - USD ($) | Mar. 31, 2018 | Jan. 31, 2018 |
TwinCo Acquisition [Member] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | $ 55,000,000 | $ 55,057,000 |
Note 2 - Investment Securitie31
Note 2 - Investment Securities (Details Textual) | Jun. 30, 2018 | Dec. 31, 2017 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 121 | 87 |
US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 86 | 52 |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 2.28% | 1.28% |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 10 | 15 |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 2.88% | 0.84% |
Mortgage-backed Securities and Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 20 | 20 |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 3.32% | 1.71% |
Asset-backed Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 5 | |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 0.90% |
Note 2 - Investment Securitie32
Note 2 - Investment Securities - Summary of Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Securities available-for-sale, amortized cost | $ 156,865 | $ 131,935 |
Securities available-for-sale, gross unrealized gains | 408 | 1,209 |
Securities available-for-sale, gross unrealized losses | (3,008) | (1,100) |
Securities available-for-sale | 154,265 | 132,044 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 10,650 | 4,881 |
Securities available-for-sale, gross unrealized gains | 13 | |
Securities available-for-sale, gross unrealized losses | (142) | (37) |
Securities available-for-sale | 10,508 | 4,857 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 75,102 | 67,508 |
Securities available-for-sale, gross unrealized gains | 193 | 807 |
Securities available-for-sale, gross unrealized losses | (1,406) | (429) |
Securities available-for-sale | 73,889 | 67,886 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 12,931 | 14,725 |
Securities available-for-sale, gross unrealized gains | 18 | 18 |
Securities available-for-sale, gross unrealized losses | (257) | (99) |
Securities available-for-sale | 12,692 | 14,644 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale, amortized cost | 22,676 | 24,770 |
Securities available-for-sale, gross unrealized gains | 195 | 364 |
Securities available-for-sale, gross unrealized losses | (394) | (265) |
Securities available-for-sale | 22,477 | 24,869 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale, amortized cost | 25,083 | 20,051 |
Securities available-for-sale, gross unrealized gains | 2 | 7 |
Securities available-for-sale, gross unrealized losses | (715) | (270) |
Securities available-for-sale | 24,370 | 19,788 |
Asset-backed Securities [Member] | ||
Securities available-for-sale, amortized cost | 10,423 | |
Securities available-for-sale, gross unrealized gains | ||
Securities available-for-sale, gross unrealized losses | (94) | |
Securities available-for-sale | $ 10,329 |
Note 2 - Investment Securitie33
Note 2 - Investment Securities - Proceeds From Sale of Available-for-sale Securities and the Associated Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Proceeds from sale of available-for-sale securities | $ 19,086 | $ 2,749 | $ 45,080 | $ 2,749 |
Gross realized gain on sale of available-for-sale securities | 191 | 14 | 191 | 14 |
Gross realized loss on sale of available-for-sale securities | (176) | (28) | (281) | (28) |
Net realized gain (loss) on sale of available-for-sale securities | $ 15 | $ (14) | $ (90) | $ (14) |
Note 2 - Investment Securitie34
Note 2 - Investment Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Available for sale securities, due in one year or less, amortized cost | $ 1,756 | |
Available for sale securities, due in one year or less, fair value | 1,756 | |
Available for sale securities, due from one to five years, amortized cost | 18,416 | |
Available for sale securities, due from one to five years, fair value | 18,096 | |
Available for sale securities, due from five to ten years, amortized cost | 14,265 | |
Available for sale securities, due from five to ten years, fair value | 14,021 | |
Available for sale securities, due after ten years, amortized cost | 74,669 | |
Available for sale securities, due after ten years, fair value | 73,545 | |
Total available for sale securities debt maturities, amortized cost | 109,106 | |
Total available for sale securities, debt maturities, fair value | 107,418 | |
Securities available-for-sale, amortized cost | 156,865 | $ 131,935 |
Securities available-for-sale | 154,265 | 132,044 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale securities, without single maturity, amortized cost | 22,676 | |
Available for sale securities, without single maturity, fair value | 22,477 | |
Securities available-for-sale, amortized cost | 22,676 | 24,770 |
Securities available-for-sale | 22,477 | 24,869 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale securities, without single maturity, amortized cost | 25,083 | |
Available for sale securities, without single maturity, fair value | 24,370 | |
Securities available-for-sale, amortized cost | 25,083 | 20,051 |
Securities available-for-sale | $ 24,370 | $ 19,788 |
Note 2 - Investment Securitie35
Note 2 - Investment Securities - Investment Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | $ 85,434 | $ 35,097 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (1,542) | (253) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 32,127 | 43,672 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (1,466) | (847) |
US Government Corporations and Agencies Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 9,243 | 2,943 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (98) | (14) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 1,264 | 1,363 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (44) | (23) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 41,534 | 15,404 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (680) | (87) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 14,236 | 16,675 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (726) | (342) |
Corporate Debt Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 7,687 | 7,643 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (243) | (71) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 987 | 3,981 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (14) | (28) |
Mortgage-backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 16,641 | 9,107 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (427) | (81) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 15,640 | 21,653 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (682) | (454) |
Asset-backed Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 10,329 | |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (94) | |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | ||
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses |
Note 3 - Loans Receivable (Deta
Note 3 - Loans Receivable (Details Textual) - USD ($) | 6 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | |
Loans and Leases Receivable, Gross, Total | $ 582,757,000 | $ 514,247,000 | $ 509,140,000 |
Minimum Principal Balance of Loans for Quarterly Rating Review | 750,000 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 281,525,000 | 244,783,000 | 246,005,000 |
Commercial Real Estate Portfolio Segment [Member] | United States Department of Agriculture Rural Development [Member] | |||
Loans and Leases Receivable, Gross, Total | 12,797,000 | 13,114,000 | |
Commercial Real Estate Portfolio Segment [Member] | United States Department of Agriculture Farm Service Agency [Member] | |||
Loans and Leases Receivable, Gross, Total | 3,016,000 | ||
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | $ 88,096,000 | 65,863,000 | 58,230,000 |
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, Total | $ 256,000 | 486,000 | |
Commercial Portfolio Segment [Member] | United States Department of Agriculture Farm Service Agency [Member] | |||
Loans and Leases Receivable, Gross, Total | 1,480,000 | ||
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | $ 16,635,000 | $ 15,712,000 | $ 15,293,000 |
Consumer Portfolio Segment [Member] | Minimum [Member] | |||
Quarterly Review Criteria, Period of Delinquency on Loans | 90 days |
Note 3 - Loans Receivable - Sum
Note 3 - Loans Receivable - Summary of Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Loans receivable | $ 582,757 | $ 514,247 | $ 509,140 | |||
Deferred loan fees, net | (1,029) | (1,093) | ||||
Allowance for loan losses | (6,150) | $ (6,130) | (5,750) | (5,225) | $ (5,075) | $ (4,770) |
Total loans, net | 575,578 | 507,404 | ||||
Residential Portfolio Segment [Member] | ||||||
Loans receivable | 143,323 | 135,217 | 140,346 | |||
Allowance for loan losses | (1,301) | (1,301) | (1,301) | (1,251) | (1,251) | (1,241) |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans receivable | 281,525 | 244,783 | 246,005 | |||
Allowance for loan losses | (3,230) | (3,202) | (2,778) | (2,378) | (2,278) | (2,079) |
Home Equity Portfolio Segment [Member] | ||||||
Loans receivable | 53,178 | 52,672 | 49,266 | |||
Allowance for loan losses | (427) | (427) | (506) | (505) | (471) | (460) |
Consumer Portfolio Segment [Member] | ||||||
Loans receivable | 16,635 | 15,712 | 15,293 | |||
Allowance for loan losses | (185) | (200) | (225) | (225) | (210) | (193) |
Commercial Portfolio Segment [Member] | ||||||
Loans receivable | 88,096 | 65,863 | 58,230 | |||
Allowance for loan losses | $ (1,007) | $ (1,000) | $ (940) | $ (866) | $ (865) | $ (797) |
Note 3 - Loans Receivable - Non
Note 3 - Loans Receivable - Nonperforming Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Non-accrual loans | $ 1,500 | $ 977 | ||||
Accruing loans delinquent 90 days or more | 159 | 0 | ||||
Restructured loans, net | 0 | |||||
Total nonperforming loans | 1,659 | 977 | ||||
Real estate and other repossessed assets acquired in settlement of loans, net | 457 | 525 | ||||
Total nonperforming assets | $ 2,116 | $ 1,502 | ||||
Total nonperforming assets as a percentage of total assets | 0.26% | 0.21% | ||||
Allowance for loan losses | $ 6,150 | $ 6,130 | $ 5,750 | $ 5,225 | $ 5,075 | $ 4,770 |
Percent of allowance for loan losses to nonperforming loans | 370.71% | 588.54% | ||||
Percent of allowance for loan losses to nonperforming assets | 290.64% | 382.82% |
Note 3 - Loans Receivable - All
Note 3 - Loans Receivable - Allowance for Loan Losses Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Allowance for loan losses, beginning balance | $ 6,130 | $ 5,075 | $ 5,750 | $ 4,770 | |
Charge-offs | (24) | (189) | (154) | (198) | |
Recoveries | 20 | 37 | 28 | 50 | |
Loan loss provision | 24 | 302 | 526 | 603 | |
Allowance for loan losses, ending balance | 6,150 | 5,225 | 6,150 | 5,225 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 38 | 38 | |||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 6,150 | 5,187 | 6,150 | 5,187 | |
Loans receivable | 582,757 | 509,140 | 582,757 | 509,140 | $ 514,247 |
Loans receivable, ending balance, loans individually evaluated for impairment | 1,500 | 1,611 | 1,500 | 1,611 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 581,257 | 507,529 | 581,257 | 507,529 | |
Residential Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 1,301 | 1,251 | 1,301 | 1,241 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Loan loss provision | 0 | 0 | 0 | 10 | |
Allowance for loan losses, ending balance | 1,301 | 1,251 | 1,301 | 1,251 | |
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 | 1,301 | 1,251 | 1,301 | 1,251 | |
Loans receivable | 143,323 | 140,346 | 143,323 | 140,346 | 135,217 |
Loans receivable, ending balance, loans individually evaluated for impairment | 573 | 500 | 573 | 500 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 142,750 | 139,846 | 142,750 | 139,846 | |
Commercial Real Estate Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 3,202 | 2,278 | 2,778 | 2,079 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 4 | 0 | 7 | 0 | |
Loan loss provision | 24 | 100 | 445 | 299 | |
Allowance for loan losses, ending balance | 3,230 | 2,378 | 3,230 | 2,378 | |
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 | 3,230 | 2,378 | 3,230 | 2,378 | |
Loans receivable | 281,525 | 246,005 | 281,525 | 246,005 | 244,783 |
Loans receivable, ending balance, loans individually evaluated for impairment | 527 | 451 | 527 | 451 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 280,998 | 245,554 | 280,998 | 245,554 | |
Home Equity Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 427 | 471 | 506 | 460 | |
Charge-offs | 0 | 0 | (80) | 0 | |
Recoveries | 0 | 34 | 1 | 39 | |
Loan loss provision | 0 | 0 | 0 | 6 | |
Allowance for loan losses, ending balance | 427 | 505 | 427 | 505 | |
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 | 427 | 505 | 427 | 505 | |
Loans receivable | 53,178 | 49,266 | 53,178 | 49,266 | 52,672 |
Loans receivable, ending balance, loans individually evaluated for impairment | 207 | 305 | 207 | 305 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 52,971 | 48,961 | 52,971 | 48,961 | |
Consumer Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 200 | 210 | 225 | 193 | |
Charge-offs | (23) | (90) | (50) | (99) | |
Recoveries | 8 | 3 | 10 | 11 | |
Loan loss provision | 0 | 102 | 0 | 120 | |
Allowance for loan losses, ending balance | 185 | 225 | 185 | 225 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 38 | 38 | |||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 185 | 187 | 185 | 187 | |
Loans receivable | 16,635 | 15,293 | 16,635 | 15,293 | 15,712 |
Loans receivable, ending balance, loans individually evaluated for impairment | 101 | 144 | 101 | 144 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 16,534 | 15,149 | 16,534 | 15,149 | |
Commercial Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 1,000 | 865 | 940 | 797 | |
Charge-offs | (1) | (99) | (24) | (99) | |
Recoveries | 8 | 0 | 10 | 0 | |
Loan loss provision | 0 | 100 | 81 | 168 | |
Allowance for loan losses, ending balance | 1,007 | 866 | 1,007 | 866 | |
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 | 1,007 | 866 | 1,007 | 866 | |
Loans receivable | 88,096 | 58,230 | 88,096 | 58,230 | $ 65,863 |
Loans receivable, ending balance, loans individually evaluated for impairment | 92 | 211 | 92 | 211 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | $ 88,004 | $ 58,019 | $ 88,004 | $ 58,019 |
Note 3 - Loans Receivable - Int
Note 3 - Loans Receivable - Internal Classification of the Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Loans receivable | $ 582,757 | $ 514,247 | $ 509,140 |
Performing Financial Instruments [Member] | |||
Loans receivable | 581,098 | 513,270 | |
Restructured Loans [Member] | |||
Loans receivable | |||
Nonperforming Financial Instruments [Member] | |||
Loans receivable | 1,659 | 977 | |
Residential Portfolio Segment [Member] | |||
Loans receivable | 143,323 | 135,217 | 140,346 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 112,314 | 109,911 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 111,948 | 109,436 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Restructured Loans [Member] | |||
Loans receivable | |||
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | 366 | 475 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 31,009 | 25,306 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 30,672 | 25,306 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Restructured Loans [Member] | |||
Loans receivable | |||
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | 337 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 281,525 | 244,783 | 246,005 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 216,264 | 194,805 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 215,737 | 194,805 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Restructured Loans [Member] | |||
Loans receivable | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | 527 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 36,581 | 38,351 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 36,581 | 38,351 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Restructured Loans [Member] | |||
Loans receivable | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | |||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 28,680 | 11,627 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 28,680 | 11,627 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Restructured Loans [Member] | |||
Loans receivable | |||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | |||
Home Equity Portfolio Segment [Member] | |||
Loans receivable | 53,178 | 52,672 | 49,266 |
Home Equity Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 52,971 | 52,430 | |
Home Equity Portfolio Segment [Member] | Restructured Loans [Member] | |||
Loans receivable | |||
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | 207 | 242 | |
Consumer Portfolio Segment [Member] | |||
Loans receivable | 16,635 | 15,712 | 15,293 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 16,534 | 15,559 | |
Consumer Portfolio Segment [Member] | Restructured Loans [Member] | |||
Loans receivable | |||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | 101 | 153 | |
Commercial Portfolio Segment [Member] | |||
Loans receivable | 88,096 | 65,863 | $ 58,230 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 69,951 | 63,300 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 69,830 | 63,193 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Restructured Loans [Member] | |||
Loans receivable | |||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | 121 | 107 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 18,145 | 2,563 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 18,145 | 2,563 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Restructured Loans [Member] | |||
Loans receivable | |||
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | |||
Pass [Member] | |||
Loans receivable | 577,978 | 512,204 | |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 111,190 | 109,167 | |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 30,672 | 24,850 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 213,816 | 194,502 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 36,581 | 38,351 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 28,680 | 11,627 | |
Pass [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 52,971 | 52,430 | |
Pass [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 16,484 | 15,549 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 69,837 | 63,165 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 17,747 | 2,563 | |
Special Mention [Member] | |||
Loans receivable | 0 | 0 | |
Special Mention [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 0 | 0 | |
Special Mention [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 0 | 0 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 0 | 0 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 0 | 0 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 0 | 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] | Commercial Loans [Member] | |||
Loans receivable | 0 | 0 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 0 | 0 | |
Substandard [Member] | |||
Loans receivable | 4,779 | 1,994 | |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 1,124 | 744 | |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 337 | 456 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 2,448 | 303 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 0 | 0 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 0 | 0 | |
Substandard [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 207 | 242 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 151 | 136 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 114 | 113 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 398 | 0 | |
Doubtful [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | |||
Loans receivable | 49 | ||
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] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 0 | 27 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 0 | 22 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | $ 0 | $ 0 |
Note 3 - Loans Receivable - Del
Note 3 - Loans Receivable - Delinquencies Within the Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Past due | $ 2,889 | $ 2,037 | |
Non-accrual Loans | 1,500 | 977 | |
Current Loans | 578,368 | 511,233 | |
Loans receivable | 582,757 | 514,247 | $ 509,140 |
Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 2,730 | 2,037 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 159 | ||
Residential Portfolio Segment [Member] | |||
Loans receivable | 143,323 | 135,217 | 140,346 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Past due | 371 | 898 | |
Non-accrual Loans | 236 | 475 | |
Current Loans | 111,707 | 108,538 | |
Loans receivable | 112,314 | 109,911 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 241 | 898 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 130 | ||
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Past due | 531 | 409 | |
Non-accrual Loans | 337 | ||
Current Loans | 30,141 | 24,897 | |
Loans receivable | 31,009 | 25,306 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 531 | 409 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | |||
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 281,525 | 244,783 | 246,005 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Past due | 822 | 291 | |
Non-accrual Loans | 527 | ||
Current Loans | 214,915 | 194,514 | |
Loans receivable | 216,264 | 194,805 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 822 | 291 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Past due | 26 | ||
Non-accrual Loans | |||
Current Loans | 36,555 | 38,351 | |
Loans receivable | 36,581 | 38,351 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 26 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | |||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Past due | |||
Non-accrual Loans | |||
Current Loans | 28,680 | 11,627 | |
Loans receivable | 28,680 | 11,627 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | |||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | |||
Home Equity Portfolio Segment [Member] | |||
Past due | 340 | 212 | |
Non-accrual Loans | 207 | 242 | |
Current Loans | 52,631 | 52,218 | |
Loans receivable | 53,178 | 52,672 | 49,266 |
Home Equity Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 340 | 212 | |
Home Equity Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | |||
Consumer Portfolio Segment [Member] | |||
Past due | 211 | 111 | |
Non-accrual Loans | 101 | 153 | |
Current Loans | 16,323 | 15,448 | |
Loans receivable | 16,635 | 15,712 | 15,293 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 211 | 111 | |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | |||
Loans receivable | 88,096 | 65,863 | $ 58,230 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Past due | 588 | 116 | |
Non-accrual Loans | 92 | 107 | |
Current Loans | 69,271 | 63,077 | |
Loans receivable | 69,951 | 63,300 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 559 | 116 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 29 | 0 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Past due | |||
Non-accrual Loans | |||
Current Loans | 18,145 | 2,563 | |
Loans receivable | 18,145 | 2,563 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due |
Note 3 - Loans Receivable - Imp
Note 3 - Loans Receivable - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Related allowance | $ 0 | $ 0 | $ 49 | ||
Recorded investment | 1,500 | 1,500 | 977 | ||
Unpaid principal balance | 1,660 | 1,660 | 1,062 | ||
Average recorded investment | 2,431 | $ 1,225 | 1,239 | $ 1,134 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||||
Recorded investment, with no related allowance | 236 | 236 | 475 | ||
Unpaid principal balance, with no related allowance | 254 | 254 | 487 | ||
Recorded investment, with a related allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with a related allowance | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 236 | 236 | 475 | ||
Unpaid principal balance | 254 | 254 | 487 | ||
Average recorded investment | 553 | 360 | 356 | 360 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||||
Recorded investment, with no related allowance | 337 | 337 | 0 | ||
Unpaid principal balance, with no related allowance | 387 | 387 | 0 | ||
Recorded investment, with a related allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with a related allowance | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 337 | 337 | |||
Unpaid principal balance | 387 | 387 | 0 | ||
Average recorded investment | 396 | 0 | 168 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||||
Recorded investment, with no related allowance | 527 | 527 | 0 | ||
Unpaid principal balance, with no related allowance | 528 | 528 | 0 | ||
Recorded investment, with a related allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with a related allowance | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 527 | 527 | |||
Unpaid principal balance | 528 | 528 | 0 | ||
Average recorded investment | 1,026 | 226 | 264 | 226 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Recorded investment, with no related allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with no related allowance | 0 | 0 | 0 | ||
Recorded investment, with a related allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with a related allowance | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Average recorded investment | 0 | 0 | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||||
Recorded investment, with no related allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with no related allowance | 0 | 0 | 0 | ||
Recorded investment, with a related allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with a related allowance | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Average recorded investment | 0 | 0 | 0 | 0 | |
Home Equity Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance | 207 | 207 | 242 | ||
Unpaid principal balance, with no related allowance | 242 | 242 | 263 | ||
Recorded investment, with a related allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with a related allowance | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 207 | 207 | 242 | ||
Unpaid principal balance | 242 | 242 | 263 | ||
Average recorded investment | 224 | 320 | 225 | 323 | |
Consumer Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance | 101 | 101 | 126 | ||
Unpaid principal balance, with no related allowance | 153 | 153 | 176 | ||
Recorded investment, with a related allowance | 0 | 0 | 27 | ||
Unpaid principal balance, with a related allowance | 0 | 0 | 27 | ||
Related allowance | 0 | 0 | 27 | ||
Recorded investment | 101 | 101 | 153 | ||
Unpaid principal balance | 153 | 153 | 203 | ||
Average recorded investment | 105 | 140 | 127 | 120 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Recorded investment, with no related allowance | 92 | 92 | 85 | ||
Unpaid principal balance, with no related allowance | 96 | 96 | 87 | ||
Recorded investment, with a related allowance | 0 | 0 | 22 | ||
Unpaid principal balance, with a related allowance | 0 | 0 | 22 | ||
Related allowance | 0 | 0 | 22 | ||
Recorded investment | 92 | 92 | 107 | ||
Unpaid principal balance | 96 | 96 | 109 | ||
Average recorded investment | 127 | 179 | 99 | 105 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||||
Recorded investment, with no related allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with no related allowance | 0 | 0 | 0 | ||
Recorded investment, with a related allowance | 0 | 0 | 0 | ||
Unpaid principal balance, with a related allowance | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | $ 0 | ||
Average recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Note 4 - Troubled Debt Restru43
Note 4 - Troubled Debt Restructurings (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2017USD ($) | |
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | ||
Receivables, Change in Method of Calculating Impairment, Recorded Investment | $ 43,000 | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 34,000 | |||
Financing Receivables Impaired Troubled Debt Restructuring Collection of Payment | $ 42,000 | |||
Financing Receivable, Troubled Debt Restructuring, Recovery | $ 34,000 | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | |||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 |
Note 5 - Deposits - Summary of
Note 5 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Noninterest checking | $ 133,736 | $ 99,799 |
Interest bearing checking | 101,085 | 99,255 |
Savings | 108,544 | 88,603 |
Money market | 106,547 | 89,558 |
Time certificates of deposit | 163,263 | 143,349 |
Total deposits | $ 613,175 | $ 520,564 |
Note 6 - Other Long-term Debt45
Note 6 - Other Long-term Debt (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Feb. 28, 2017 | Jun. 30, 2015 | Dec. 31, 2010 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Sep. 30, 2005 | |
Debt Instrument, Face Amount | $ 25,155,000 | $ 25,155,000 | $ 25,155,000 | ||||||
Interest Expense, Long-term Debt, Total | $ 357,000 | $ 347,000 | $ 704,000 | $ 619,000 | |||||
Eagle Bancorp Statutory Trust I [Member] | |||||||||
Subordinated Debt, Ending Balance | $ 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 | 3.756% | 3.756% | 3.114% | ||||||
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 | ||||||||
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | |||||||||
Debt Instrument, Face Amount | $ 10,000,000 | $ 10,000,000 | $ 10,000,000 | $ 10,000,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | 5.75% | 5.75% | 5.75% | |||||
Debt Instrument, Maturity Year | 2,022 | 2,022 | 2,022 | ||||||
6.75% Subordinated Notes Due in 2025 [Member] | |||||||||
Debt Instrument, Face Amount | $ 10,000,000 | $ 10,000,000 | $ 10,000,000 | $ 10,000,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | 6.75% | 6.75% | 6.75% | |||||
Debt Instrument, Maturity Year | 2,025 | 2,025 | 2,025 |
Note 6 - Other Long-term Debt -
Note 6 - Other Long-term Debt - Summary of Other Long-term Debt (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Feb. 28, 2017 | Jun. 30, 2015 |
Principal amount | $ 25,155,000 | $ 25,155,000 | ||
Unamortized debt issuance costs | (312,000) | (344,000) | ||
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | ||||
Principal amount | 10,000,000 | 10,000,000 | $ 10,000,000 | |
Unamortized debt issuance costs | (158,000) | (180,000) | ||
6.75% Subordinated Notes Due in 2025 [Member] | ||||
Principal amount | 10,000,000 | 10,000,000 | $ 10,000,000 | |
Unamortized debt issuance costs | (154,000) | (164,000) | ||
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | ||||
Principal amount | 5,155,000 | 5,155,000 | ||
Unamortized debt issuance costs |
Note 6 - Other Long-term Debt47
Note 6 - Other Long-term Debt - Summary of Other Long-term Debt (Details) (Parentheticals) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |
Feb. 28, 2017 | Jun. 30, 2015 | Jun. 30, 2018 | Dec. 31, 2017 | |
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | ||||
Debt instrument, fixed interest rate | 5.75% | 5.75% | 5.75% | |
Debt instrument, maturity year | 2,022 | 2,022 | 2,022 | |
6.75% Subordinated Notes Due in 2025 [Member] | ||||
Debt instrument, fixed interest rate | 6.75% | 6.75% | 6.75% | |
Debt instrument, maturity year | 2,025 | 2,025 | 2,025 | |
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | ||||
Debt instrument, maturity year | 2,035 | 2,035 | ||
Debt instrument, interest rate above LIBOR rate | 1.42% | 1.42% |
Note 7 - Earnings Per Share (De
Note 7 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Weighted Average Number of Shares Outstanding, Basic, Total | 5,460,452 | 3,811,409 | 5,386,401 | 3,811,409 |
Weighted Average Number of Shares Outstanding, Diluted, Total | 5,524,912 | 3,869,885 | 5,450,861 | 3,872,765 |
Note 8 - Dividends and Stock 49
Note 8 - Dividends and Stock Repurchase Program (Details Textual) - $ / shares | Jul. 19, 2018 | Jun. 01, 2018 | Mar. 01, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2018 | Jul. 20, 2017 | Jul. 21, 2016 |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.09 | $ 0.09 | $ 0.09 | $ 0.09 | $ 0.08 | $ 0.08 | ||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100,000 | 100,000 | 100,000 | |||||||
Treasury Stock, Shares, Acquired | 0 | 0 | ||||||||
Subsequent Event [Member] | ||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.0925 |
Note 9 - Accumulated Other Co50
Note 9 - Accumulated Other Comprehensive Income (Loss) - Activity in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Mar. 31, 2017 | |
Balance | $ 83,616 | $ 59,456 | ||
Balance | $ 91,805 | $ 62,122 | ||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
Balance | 188 | 234 | 201 | 330 |
Other comprehensive income (loss), before reclassifications and income taxes | 402 | 262 | 657 | 341 |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (262) | (325) | (341) | (558) |
Income tax benefit (expense) | (37) | 17 | (128) | 88 |
Total other comprehensive (loss) income | 103 | (46) | 188 | (129) |
Balance | 291 | 188 | 389 | 201 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Balance | (1,739) | 79 | (575) | (741) |
Other comprehensive income (loss), before reclassifications and income taxes | (216) | (2,583) | 1,775 | 279 |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (15) | 105 | 14 | |
Income tax benefit (expense) | 60 | 660 | (730) | (113) |
Total other comprehensive (loss) income | (171) | (1,818) | 1,059 | 166 |
Balance | (1,910) | (1,739) | 484 | (575) |
AOCI Attributable to Parent [Member] | ||||
Balance | (1,551) | 313 | (374) | (411) |
Other comprehensive income (loss), before reclassifications and income taxes | 186 | (2,321) | 2,432 | 620 |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (277) | (220) | (327) | (558) |
Income tax benefit (expense) | 23 | 677 | (858) | (25) |
Total other comprehensive (loss) income | (68) | (1,864) | 1,247 | 37 |
Balance | $ (1,619) | $ (1,551) | $ 873 | $ (374) |
Note 10 - Derivatives and Hed51
Note 10 - Derivatives and Hedging Activities (Details Textual) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Notional Amount of Interest Rate Lock Commitments | $ 33,997,000 | $ 15,338,000 |
Note 11 - Fair Value Disclosu52
Note 11 - Fair Value Disclosures (Details Textual) - USD ($) | 6 Months Ended | |||||
Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable, Gross, Total | $ 582,757,000 | $ 514,247,000 | $ 509,140,000 | |||
Loans and Leases Receivable, Allowance, Ending Balance | 6,150,000 | $ 6,130,000 | 5,750,000 | $ 5,225,000 | $ 5,075,000 | $ 4,770,000 |
Impaired Loans [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 1,500,000 | 977,000 | ||||
Loans Receivable, Fair Value Disclosure | $ 1,500,000 | 928,000 | ||||
Loans and Leases Receivable, Allowance, Ending Balance | $ 49,000 | |||||
Mortgage Servicing Rights [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 12.50% | |||||
Mortgage Servicing Rights [Member] | Minimum [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 80.00% | |||||
Mortgage Servicing Rights [Member] | Maximum [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 241.00% | |||||
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% | |||||
Mortgage Servicing Rights [Member] | Weighted Average [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 120.00% |
Note 11 - Fair Value Disclosu53
Note 11 - Fair Value Disclosures - Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Securities available-for-sale | $ 154,265 | $ 132,044 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 10,508 | 4,857 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 73,889 | 67,886 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale | 12,692 | 14,644 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 22,477 | 24,869 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 24,370 | 19,788 |
Asset-backed Securities [Member] | ||
Securities available-for-sale | 10,329 | |
Fair Value, Measurements, Recurring [Member] | ||
Loans held-for-sale | 11,700 | 8,949 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 10,508 | 4,857 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 73,889 | 67,886 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Securities available-for-sale | 12,692 | 14,644 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 22,477 | 24,869 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 24,370 | 19,788 |
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | ||
Securities available-for-sale | 10,329 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans held-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans held-for-sale | 11,700 | 8,949 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 10,508 | 4,857 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 73,889 | 67,886 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Securities available-for-sale | 12,692 | 14,644 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 22,477 | 24,869 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 24,370 | 19,788 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | ||
Securities available-for-sale | 10,329 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans held-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member] | ||
Securities available-for-sale |
Note 11 - Fair Value Disclosu54
Note 11 - 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 | Jun. 30, 2018 | Dec. 31, 2017 |
Impaired loans, fair value | $ 1,500 | $ 928 |
Repossessed assets, fair value | 457 | 525 |
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 | 1,500 | 928 |
Repossessed assets, fair value | $ 457 | $ 525 |
Note 11 - Fair Value Disclosu55
Note 11 - Fair Value Disclosures - Financial Assets and Liabilities, Valuation Techniques and Significant Unobservable Inputs (Details) $ in Thousands | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
Impaired Loans [Member] | |||
Fair value | [1] | $ 1,500 | $ 928 |
Impaired Loans [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
impaired loans, discount rate | 0.1 | ||
Impaired Loans [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
impaired loans, discount rate | 0.3 | ||
Repossessed Assets [Member] | |||
Fair value | [1],[2],[3] | $ 457 | $ 525 |
Repossessed Assets [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
Repossessed assets, discount rate | 0.1 | ||
Repossessed Assets [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
Repossessed assets, discount rate | 0.3 | ||
[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] | Appraisals may be adjusted 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. | ||
[3] | Includes qualitative adjustments by management and estimated liquidation expenses. |
Note 11 - Fair Value Disclosu56
Note 11 - Fair Value Disclosures - Estimated Fair Value and Carrying Amounts of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | $ 8,980 | $ 7,437 |
Federal Home Loan Bank stock | 4,559 | 4,086 |
Federal Reserve Bank stock | 2,019 | 1,465 |
Loans Receivable, Fair Value Disclosure | 570,519 | 505,615 |
Accrued interest and dividends receivable | 3,668 | 2,555 |
Mortgage servicing rights | 8,068 | 7,312 |
Cash surrender value of life insurance | 14,670 | 14,481 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 316,176 | 277,416 |
Noninterest bearing deposits | 133,736 | 99,799 |
Time certificates of deposit | 161,337 | 142,202 |
Accrued expenses and other liabilities | 5,535 | 4,822 |
Federal Home Loan Bank advances and other borrowings | 90,838 | 82,579 |
Other long-term debt | 23,760 | 24,209 |
Estimate of Fair Value Measurement [Member] | Forward Contracts [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Reported Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 8,980 | 7,437 |
Federal Home Loan Bank stock | 4,559 | 4,086 |
Federal Reserve Bank stock | 2,019 | 1,465 |
Loans Receivable, Fair Value Disclosure | 574,078 | 506,476 |
Accrued interest and dividends receivable | 3,668 | 2,555 |
Mortgage servicing rights | 6,716 | 6,578 |
Cash surrender value of life insurance | 14,670 | 14,481 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 316,176 | 277,416 |
Noninterest bearing deposits | 133,736 | 99,799 |
Time certificates of deposit | 163,263 | 143,349 |
Accrued expenses and other liabilities | 5,535 | 4,822 |
Federal Home Loan Bank advances and other borrowings | 91,469 | 82,969 |
Other long-term debt | 25,155 | 25,155 |
Reported Value Measurement [Member] | Forward Contracts [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Reported Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Reported Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 8,980 | 7,437 |
Federal Home Loan Bank stock | 4,559 | 4,086 |
Federal Reserve Bank stock | 2,019 | 1,465 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest and dividends receivable | 3,668 | 2,555 |
Mortgage servicing rights | 0 | 0 |
Cash surrender value of life insurance | 14,670 | 14,481 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 133,736 | 99,799 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 5,535 | 4,822 |
Federal Home Loan Bank advances and other borrowings | 0 | 0 |
Other long-term debt | 0 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Forward Contracts [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
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 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 316,176 | 277,416 |
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 |
Other long-term debt | 0 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Forward Contracts [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
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 | 570,519 | 505,615 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 8,068 | 7,312 |
Cash surrender value of life insurance | 0 | 0 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 0 | 0 |
Time certificates of deposit | 161,337 | 142,202 |
Accrued expenses and other liabilities | 0 | 0 |
Federal Home Loan Bank advances and other borrowings | 90,838 | 82,579 |
Other long-term debt | 23,760 | 24,209 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Forward Contracts [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Off-balance-sheet instruments | ||
Off-balance sheet instruments | $ 0 | $ 0 |
Note 12 - Mergers and Acquisi57
Note 12 - Mergers and Acquisitions (Details Textual) | Jan. 31, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | Sep. 05, 2017 |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 1,702,000 | $ 1,702,000 | $ 273,000 | |||||
Business Combination, Acquisition Related Costs | 131,000 | $ 234,000 | 365,000 | $ 676,000 | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 28.00% | |||||||
Core Deposits [Member] | ||||||||
Finite-Lived Intangible Assets, Net, Ending Balance | $ 1,609,000 | $ 1,609,000 | ||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||||||
Ruby Valley Bank [Member] | Madison County, Montana [Member] | ||||||||
Number of Bank Branches | 2 | |||||||
TwinCo Acquisition [Member] | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||||||
Business Combination, Consideration Transferred, Total | $ 18,930,000 | |||||||
Payments to Acquire Businesses, Gross | 9,900,000 | |||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 9,030,000 |
Note 12 - Mergers and Acquisi58
Note 12 - Mergers and Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) | Jan. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Goodwill | $ 12,124,000 | $ 7,034,000 | ||
TwinCo Acquisition [Member] | ||||
Cash and cash equivalents | $ 5,657,000 | |||
Investment securities | 30,728,000 | |||
Loans | 55,057,000 | $ 55,000,000 | ||
Premises and equipment | 1,605,000 | |||
Other real estate owned | 135,000 | |||
Core deposit intangible | 1,609,000 | |||
Other assets | 1,258,000 | |||
Total assets acquired | 96,049,000 | |||
Deposits | 82,190,000 | |||
Accrued expenses and other liabilities | 19,000 | |||
Total liabilities assumed | 82,209,000 | |||
Net assets acquired | 13,840,000 | |||
Cash | 9,900,000 | |||
Common stock issued (446,774 shares) | 9,030,000 | |||
Total consideration paid | 18,930,000 | |||
Goodwill | $ 5,090,000 |
Note 12 - Mergers and Acquisi59
Note 12 - Mergers and Acquisitions - Assets Acquired and Liabilities Assumed (Details) (Parentheticals) | Jan. 31, 2018shares |
TwinCo Acquisition [Member] | |
Common stock issued, shares (in shares) | 446,774 |
Note 12 - Mergers and Acquisi60
Note 12 - Mergers and Acquisitions - Loans Acquired (Details) - TwinCo Acquisition [Member] $ in Thousands | Jan. 31, 2018USD ($) |
Contractually required principal and interest at acquisition | $ 56,891 |
Contractual cash flows not expected to be collected (nonaccretable discount) | (1,346) |
Expected cash flows at acquisition | 55,545 |
Interest component of expected cash flows (accretable discount) | (488) |
Fair value of acquired loans | $ 55,057 |
Note 12 - Mergers and Acquisi61
Note 12 - Mergers and Acquisitions - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Net interest income after loan loss provision | $ 7,786 | $ 5,578 | $ 14,131 | $ 10,760 | |
Noninterest income | 3,084 | 3,570 | 5,763 | 6,778 | |
Noninterest expense | 9,244 | 7,620 | 17,568 | 15,059 | |
Income before income taxes | 1,626 | 1,528 | 2,326 | 2,479 | |
Income tax expense | 293 | 462 | 420 | 650 | |
Net income | $ 1,333 | $ 1,066 | $ 1,906 | $ 1,829 | |
Basic earnings per share (in dollars per share) | $ 0.24 | $ 0.28 | $ 0.35 | $ 0.48 | |
Diluted earnings per share (in dollars per share) | $ 0.24 | $ 0.27 | $ 0.35 | $ 0.47 | |
Weighted Average Number of Shares Outstanding, Basic, Total | 5,460,452 | 3,811,409 | 5,386,401 | 3,811,409 | |
Weighted Average Number of Shares Outstanding, Diluted, Total | 5,524,912 | 3,869,885 | 5,450,861 | 3,872,765 | |
TwinCo Acquisition [Member] | Pro Forma [Member] | |||||
Net interest income after loan loss provision | [1] | $ 7,786 | $ 6,506 | $ 14,414 | $ 12,616 |
Noninterest income | [1] | 3,084 | 3,651 | 5,798 | 6,940 |
Noninterest expense | [1] | 9,244 | 8,293 | 17,719 | 16,404 |
Income before income taxes | [1] | 1,626 | 1,864 | 2,493 | 3,152 |
Income tax expense | [1] | 293 | 522 | 466 | 883 |
Net income | [1] | $ 1,333 | $ 1,342 | $ 2,027 | $ 2,269 |
Basic earnings per share (in dollars per share) | [1] | $ 0.24 | $ 0.35 | $ 0.38 | $ 0.60 |
Diluted earnings per share (in dollars per share) | [1] | $ 0.24 | $ 0.35 | $ 0.37 | $ 0.59 |
Weighted Average Number of Shares Outstanding, Basic, Total | [1] | 5,460,452 | 3,811,409 | 5,386,401 | 3,811,409 |
Weighted Average Number of Shares Outstanding, Diluted, Total | [1] | 5,524,912 | 3,869,885 | 5,450,861 | 3,872,765 |
[1] | Significant assumptions utilized include the acquisition cost noted above, accretion of interest rate fair value adjustments, amortization of the core deposit intangible asset and a 28.00% effective tax rate for 2017. |