Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 01, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | Eagle Bancorp Montana, Inc. | ||
Entity Central Index Key | 0001478454 | ||
Trading Symbol | ebmt | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 6,460,192 | ||
Entity Public Float | $ 93,805 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Shell Company | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
ASSETS: | ||
Cash and due from banks | $ 10,144 | $ 5,517 |
Interest bearing deposits in banks | 1,057 | 1,920 |
Total cash and cash equivalents | 11,201 | 7,437 |
Securities available-for-sale | 142,165 | 132,044 |
Federal Home Loan Bank stock | 5,011 | 4,086 |
Federal Reserve Bank stock | 2,033 | 1,465 |
Investment in Eagle Bancorp Statutory Trust I | 155 | 155 |
Mortgage loans held-for-sale | 7,318 | 8,949 |
Loans receivable, net of deferred loan fees of $1,098 at December 31, 2018 and $1,093 at December 31, 2017 and allowance for loan losses of $6,600 at December 31, 2018 and $5,750 at December 31, 2017 | 610,333 | 507,404 |
Accrued interest and dividends receivable | 3,479 | 2,555 |
Mortgage servicing rights, net | 7,100 | 6,578 |
Premises and equipment, net | 29,343 | 21,958 |
Cash surrender value of life insurance | 20,545 | 14,481 |
Real estate and other repossessed assets acquired in settlement of loans, net | 107 | 525 |
Goodwill | 12,124 | 7,034 |
Core deposit intangible, net | 1,498 | 273 |
Deferred tax asset, net | 1,190 | 1,360 |
Other assets | 301 | 478 |
Total assets | 853,903 | 716,782 |
LIABILITIES: | ||
Noninterest bearing | 142,788 | 99,799 |
Interest bearing | 483,823 | 420,765 |
Total deposits | 626,611 | 520,564 |
Accrued expenses and other liabilities | 5,388 | 4,822 |
Federal Home Loan Bank advances and other borrowings | 102,222 | 82,969 |
Other long-term debt: | ||
Principal amount | 25,155 | 25,155 |
Unamortized debt issuance costs | (279) | (344) |
Total other long-term debt less unamortized debt issuance costs | 24,876 | 24,811 |
Total liabilities | 759,097 | 633,166 |
SHAREHOLDERS' EQUITY: | ||
Preferred stock (par value $0.01 per share; 1,000,000 shares authorized; no shares issued or outstanding) | 0 | 0 |
Common stock ($0.01 par value; 8,000,000 shares authorized; 5,718,942 and 5,272,168 shares issued; 5,477,652 and 5,013,678 shares outstanding at December 31, 2018 and 2017, respectively) | 57 | 53 |
Additional paid-in capital | 52,051 | 42,780 |
Unallocated common stock held by Employee Stock Ownership Plan | (477) | (643) |
Treasury stock, at cost | (2,640) | (2,826) |
Retained earnings | 46,926 | 43,939 |
Net accumulated other comprehensive (loss) income | (1,111) | 313 |
Total shareholders' equity | 94,806 | 83,616 |
Total liabilities and shareholders' equity | $ 853,903 | $ 716,782 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred loan fees | $ 1,098 | $ 1,093 |
Allowance for loan losses | $ 6,600 | $ 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) | 5,477,652 | 5,013,678 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
INTEREST AND DIVIDEND INCOME: | ||
Interest and fees on loans | $ 30,400,000 | $ 24,776,000 |
Securities available-for-sale | 4,068,000 | 2,898,000 |
Federal Home Loan Bank and Federal Reserve Bank dividends | 322,000 | 170,000 |
Trust preferred securities | 6,000 | 4,000 |
Interest on deposits in banks | 43,000 | 7,000 |
Other interest income | 4,000 | 5,000 |
Total interest and dividend income | 34,843,000 | 27,860,000 |
INTEREST EXPENSE: | ||
Deposits | 2,056,000 | 1,553,000 |
Federal Home Loan Bank advances and other borrowings | 1,614,000 | 1,217,000 |
Other long-term debt | 1,432,000 | 1,324,000 |
Total interest expense | 5,102,000 | 4,094,000 |
NET INTEREST INCOME | 29,741,000 | 23,766,000 |
Loan loss provision | 980,000 | 1,228,000 |
NET INTEREST INCOME AFTER LOAN LOSS PROVISION | 28,761,000 | 22,538,000 |
NONINTEREST INCOME: | ||
Net gain on sale of loans (includes $1,223 and $1,920 for 2018 and 2017, respectively, related to accumulated other comprehensive earnings reclassification) | 7,743,000 | 8,803,000 |
Appreciation in cash surrender value of life insurance | 609,000 | 500,000 |
Net (loss) gain on sale of available-for-sale securities (includes ($187) and $37 for 2018 and 2017, respectively, related to accumulated other comprehensive earnings reclassification) | (187,000) | 37,000 |
Net loss on sale of real estate owned and other repossessed property | (54,000) | (29,000) |
Other noninterest income | 398,000 | 459,000 |
Total noninterest income | 13,325,000 | 14,331,000 |
NONINTEREST EXPENSE: | ||
Salaries and employee benefits | 20,899,000 | 17,880,000 |
Occupancy and equipment expense | 3,355,000 | 2,734,000 |
Data processing | 2,842,000 | 2,263,000 |
Advertising | 1,158,000 | 966,000 |
Amortization of mortgage servicing rights | 1,203,000 | 1,086,000 |
Amortization of core deposit intangible and tax credits | 700,000 | 426,000 |
Loan costs | 632,000 | 622,000 |
Federal insurance premiums | 246,000 | 284,000 |
Postage | 248,000 | 193,000 |
Legal, accounting and examination fees | 656,000 | 575,000 |
Consulting fees | 111,000 | 180,000 |
Acquisition costs | 1,169,000 | 676,000 |
Write-down on real estate owned and other repossessed property | 28,000 | 45,000 |
Other noninterest expense | 2,943,000 | 2,708,000 |
Total noninterest expenses | 36,190,000 | 30,638,000 |
INCOME BEFORE INCOME TAXES | 5,896,000 | 6,231,000 |
Income tax expense (includes $276 and $700 for 2018 and 2017, respectively, related to income tax benefit from reclassification items) | 914,000 | 2,128,000 |
NET INCOME | $ 4,982,000 | $ 4,103,000 |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 0.92 | $ 1.01 |
DILUTED EARNINGS PER SHARE (in dollars per share) | $ 0.91 | $ 0.99 |
Deposit Account [Member] | ||
NONINTEREST INCOME: | ||
Noninterest income revenue | $ 943,000 | $ 954,000 |
Bank Servicing [Member] | ||
NONINTEREST INCOME: | ||
Noninterest income revenue | 2,295,000 | 2,127,000 |
Investment Advisory, Management and Administrative Service [Member] | ||
NONINTEREST INCOME: | ||
Noninterest income revenue | 536,000 | 624,000 |
Debit Card [Member] | ||
NONINTEREST INCOME: | ||
Noninterest income revenue | $ 1,042,000 | $ 856,000 |
Consolidated Statements of In_2
Consolidated Statements of Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Gain on sale of loans, accumulated other comprehensive earnings reclassification | $ 1,223 | $ 1,920 |
Net loss on sale of available-for-sale securities, accumulated other comprehensive earnings reclassification | (187) | 37 |
Income tax expense, reclassification items | $ 276 | $ 700 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 4,982 | $ 4,103 |
OTHER ITEMS OF COMPREHENSIVE (LOSS) INCOME: | ||
Change in fair value of investment securities available-for-sale, before income taxes | (2,113) | 1,397 |
Reclassification for net realized losses (gains) on investment securities included in income, before income taxes | 187 | (37) |
Change in fair value of derivatives designated as cash flow hedges, before income taxes | 1,207 | 1,687 |
Reclassification for net realized gains on derivatives designated as cash flow hedges, before income taxes | (1,223) | (1,920) |
Total other items of comprehensive (loss) income | (1,942) | 1,127 |
Income tax benefit (expense) related to: | ||
Investment securities | 509 | (540) |
Derivatives designated as cash flow hedges | 9 | 137 |
Total income tax benefit (expense) | 518 | (403) |
COMPREHENSIVE INCOME | $ 3,558 | $ 4,827 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - 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 | 4,103 | 4,103 | ||||||
Other comprehensive (loss) income | 724 | 724 | ||||||
Dividends paid | (1,404) | (1,404) | ||||||
Proceeds from public offering, net of expenses | 12 | 20,145 | 20,157 | |||||
Stock compensation expense | 261 | 261 | ||||||
Treasury stock reissued for compensation (13,228 shares at $10.97 average cost per share ) | (145) | 145 | ||||||
Employee Stock Ownership Plan shares allocated or committed to be released for allocation | 153 | 166 | 319 | |||||
Balance at Dec. 31, 2017 | 53 | 42,780 | (643) | (2,826) | 43,939 | 313 | 83,616 | |
Net income | 4,982 | 4,982 | ||||||
Other comprehensive (loss) income | (1,424) | (1,424) | ||||||
Dividends paid | (1,995) | (1,995) | ||||||
Stock compensation expense | 281 | 281 | ||||||
Treasury stock reissued for compensation (13,228 shares at $10.97 average cost per share ) | (186) | 186 | ||||||
Employee Stock Ownership Plan shares allocated or committed to be released for allocation | 150 | 166 | 316 | |||||
Stock issued in connection with TwinCo acquisition | 4 | 9,026 | 9,030 | |||||
Balance at Dec. 31, 2018 | $ 57 | $ 52,051 | $ (477) | $ (2,640) | $ 46,926 | $ (1,111) | $ 94,806 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Treasury Stock [Member] | ||
Treasury stock reissued, shares (in shares) | 17,200 | 13,228 |
Treasury stock reissued, cost per share (in dollars per share) | $ 10.83 | $ 10.97 |
Unallocated ESOP Shares [Member] | ||
ESOP shares allocated or committed to be released for allocation, shares (in shares) | 16,616 | 16,616 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 4,982,000 | $ 4,103,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Loan loss provision | 980,000 | 1,228,000 |
Write-down on real estate owned and other repossessed assets | 28,000 | 45,000 |
Depreciation, Total | 1,282,000 | 969,000 |
Net amortization of investment securities premiums and discounts | 1,237,000 | 1,555,000 |
Amortization of mortgage servicing rights | 1,203,000 | 1,086,000 |
Amortization of core deposit intangible and tax credits | 700,000 | 426,000 |
Deferred income tax expense | 880,000 | 202,000 |
Net gain on sale of loans | (7,743,000) | (8,803,000) |
Net loss (gain) on sale of available-for-sale securities | 187,000 | (37,000) |
Net loss on sale of real estate owned and other repossessed assets | 54,000 | 29,000 |
Net gain on sale/disposal of premises and equipment | (9,000) | (1,000) |
Net appreciation in cash surrender value of life insurance | (486,000) | (386,000) |
Net change in: | ||
Accrued interest and dividends receivable | (219,000) | (432,000) |
Loans held-for-sale | 9,358,000 | 17,851,000 |
Other assets | (7,000) | 1,107,000 |
Accrued expenses and other liabilities | 1,144,000 | 1,111,000 |
Net cash provided by operating activities | 13,571,000 | 20,053,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Sales | 51,319,000 | 10,585,000 |
Maturities, principal payments and calls | 11,908,000 | 10,014,000 |
Purchases | (45,970,000) | (24,365,000) |
Federal Home Loan Bank stock purchased | (814,000) | (74,000) |
Federal Reserve Bank stock purchased | (568,000) | (594,000) |
Cash paid for TwinCo acquisition, net of cash received | (4,243,000) | |
Loan origination and principal collection, net | (50,581,000) | (49,118,000) |
Proceeds from Bank owned life insurance | 205,000 | |
Purchases of Bank owned life insurance | (5,600,000) | |
Proceeds from sale of real estate and other repossessed assets acquired in settlement of loans | 475,000 | 292,000 |
Proceeds from sale of premises and equipment | 9,000 | 2,000 |
Additions to premises and equipment | (7,062,000) | (3,535,000) |
Net cash used in investing activities | (50,922,000) | (56,793,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposits | 23,857,000 | 7,769,000 |
Net short-term advances (payments) from Federal Home Loan Bank and other borrowings | 46,687,000 | (34,027,000) |
Long-term advances from Federal Home Loan Bank and other borrowings | 4,000,000 | 46,300,000 |
Payments on long-term Federal Home Loan Bank and other borrowings | (31,434,000) | (11,717,000) |
Proceeds from issuance of long-term debt | 10,000,000 | |
Payments for debt issuance costs | (219,000) | |
Proceeds from issuance of common stock | 20,157,000 | |
Dividends paid | (1,995,000) | (1,404,000) |
Net cash provided by financing activities | 41,115,000 | 36,859,000 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 3,764,000 | 119,000 |
CASH AND CASH EQUIVALENTS, beginning of period | 7,437,000 | 7,318,000 |
CASH AND CASH EQUIVALENTS, end of period | $ 11,201,000 | $ 7,437,000 |
Note 1 - Organization and Opera
Note 1 - Organization and Operations | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1: Organization and Operations On April 5, 2010, second 2,464,274 $10.00 $24,643,000. 3.80 The Company’s Employee Stock Ownership Plan (“ESOP”), which purchased shares in the offering, was authorized to purchase up to 8.00% 197,142 $1,971,000. On October 13, 2017, 1,189,041 $20,157,000 In 2014, October 14, 2014. The Bank is headquartered in Helena, Montana, and operates additional branches in Big Timber, Billings, Bozeman, Butte, Great Falls, Hamilton, Livingston, Missoula, Sheridan, Townsend and Twin Bridges, Montana. It also operates a separate mortgage loan origination location in Missoula, Montana. The Bank’s principal business is accepting deposits and, together with funds generated from operations and borrowings, investing in various types of loans and securities. Collectively, Eagle Bancorp Montana Inc. and its subsidiaries are referred to herein as “the Company.” |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2: Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include Eagle Bancorp Montana Inc., the Bank, Eagle Bancorp Statutory Trust I and AFSB NMTC Investment Fund, LLC. All significant intercompany transactions and balances have been eliminated in consolidation. Consolidated Financial Statement Presentation and Use of Estimates The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In preparing consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statement of financial condition and reported amounts of revenues and expenses during the reporting period. Actual results could differ from estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, mortgage servicing rights, the valuation of financial instruments, deferred tax assets and liabilities and the valuation of foreclosed assets. In connection with the determination of the estimated losses on loans, foreclosed assets and valuation of mortgage servicing rights, management obtains independent appraisals and valuations. Certain prior period amounts were reclassified to conform to the presentation for 2018. no December 31, 2018. March 31, 2018, 24. $55,000,000 no not December 31, 2018 The Company evaluated subsequent events for potential recognition and/or disclosure through the date the consolidated financial statements were issued. Significant Group Concentrations of Credit Risk Most of the Company’s business activity is with customers located within Montana. Note 4: 5: not one The Company carries certain assets with other financial institutions which are subject to credit risk by the amount such assets exceed federal deposit insurance limits. At December 31, 2018 2017, no Management monitors financial stability of correspondent banks and considers amounts advanced in excess of FDIC insurance limits to present no Revenue Recognition Accounting Standards Codification (“ASC”) 606, January 1, 2018. The majority of our revenue-generating transactions are not 606, 606 not 606. 606 Wealth Management Income Service Charges may Interchange and Other Fees Cash and Cash Equivalents For the purpose of presentation in the consolidated statements of cash flows, cash and cash equivalents are defined as those amounts included in the balance sheet captions “cash and due from banks” and “interest bearing deposits in banks” all of which mature within ninety The Bank properly maintains amounts in excess of reserve balances as required by the FRB. The Bank had vault cash reserves in excess of the required reserve amount of $1,036,000 $880,000 December 31, 2018 2017, Investment Securities The Company can designate debt and equity securities as held-to-maturity, available-for-sale or trading. At December 31, 2018 2017 Held-to-Maturity Available-for-Sale may Declines in the fair value of individual held-to-maturity and available-for-sale securities below their cost that are other than temporary are recognized by write-downs of the individual securities to their fair value. Such write-downs would be included in earnings as realized losses. Trading Federal Home Loan Bank Stock The Company’s investment in Federal Home Loan Bank (“FHLB”) of Des Moines stock is a restricted investment carried at cost ( $100 50,114 40,861 December 31, 2018 2017, Federal Reserve Bank Stock The Company’s investment in FRB stock is a restricted investment carried at cost, which approximates its fair value. Although the par value of the stock is $100 $50 40,650 29,295 December 31, 2018 2017, 6.00% Mortgage Loans Held-for-Sale Mortgage loans originated and intended for sale in the secondary market are carried at fair value, determined in aggregate, plus the fair value of associated derivative financial instruments. Net unrealized losses, if any, are recognized in a valuation allowance by a charge to income. Loans The Bank grants mortgage, commercial and consumer loans to customers. A substantial portion of the loan portfolio is represented by mortgage loans in Montana. The ability of the Bank’s debtors to honor their contracts is dependent upon the general economic conditions in this area. Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding unpaid principal balances net of any unearned income, allowance for loan losses, and unamortized deferred fees or costs on originated loans and unamortized premiums or unaccreted discounts on purchased loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs are deferred and amortized over the contractual life of the loan, and recorded as an adjustment to the yield, using the interest method. Loan Origination/Risk Management may A reporting system supplements the loan review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and nonperforming and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions. The Bank regularly contracts for independent loan reviews that validate the credit risk program. Results of these reviews are presented to management. The loan review process compliments and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as, the Company’s policies and procedures. Residential 1 4 1 4 may 1 4 80.00% 30 Commercial Real Estate Loans may Construction Loans no may may no Agricultural Loans may Home Equity Loans may may not first 1 4 85.00% Consumer Loans Commercial Loans Non-Accrual and Past Due Loans not may not may 90 not may not Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management's periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of specific, general and unallocated components. For such loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is based on historical loss experience adjusted for qualitative factors. An unallocated component is maintained to cover uncertainties that could affect management's estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not Troubled Debt Restructured Loans A troubled debt restructured loan is a loan in which the Bank grants a concession to the borrower that it would not not Mortgage Servicing Rights Servicing assets are recognized as separate assets when rights are acquired through purchase or through sale of financial assets. Generally, purchased servicing rights are capitalized at the cost to acquire the rights. For sales of mortgage loans, a portion of the cost of originating the loan is allocated to the servicing right based on relative fair value. Fair value is based on a market price valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that the fair value is less than the capitalized amount for the tranches. If the Company later determines that all or a portion of the impairment no may Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Cash Surrender Value of Life Insurance Life insurance policies are initially recorded at cost at the date of purchase. Subsequent to purchase, the policies are periodically adjusted for fair value. The adjustment to fair value increases or decreases the carrying value of the policies and is recorded as an income or expense on the consolidated statement of income. For the years ended December 31, 2018 2017, no Foreclosed Assets Assets acquired through, or in lieu of, loan foreclosure are initially recorded at fair value less estimated selling cost at the date of foreclosure. All write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, property held-for-sale is carried at fair value less cost to sell. Impairment losses on property to be held and used are measured as the amount by which the carrying amount of a property exceeds its fair value. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. Valuations are periodically performed by management, and any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the lower of its cost or fair value less cost to sell. Premises and Equipment Land is carried at cost. Property and equipment is recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the expected useful lives of the assets, ranging from 3 40 Income Taxes The Company adopted authoritative guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions. The Company’s income tax expense consists of the following components: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, not 50 not 50 not not not not The Company recognizes interest accrued on penalties related to unrecognized tax benefits in tax expense. During the years ended December 31, 2018 2017 no not December 31, 2018 2017. no 2015 2015 Treasury Stock Treasury stock is accounted for on the cost method and consists of 241,290 258,490 December 31, 2018 2017, On July 19, 2018, 100,000 may No three December 31, 2018 September 30, 2018. 2019, 36,000 $17.49 July 19, 2019. On July 20, 2017, 100,000 No July 20, 2018. On July 21, 2016, 100,000 No July 21, 2017. Advertising Costs The Company expenses advertising costs as they are incurred. Advertising costs were $1,158,000 $966,000 December 31, 2018 2017, Employee Stock Ownership Plan Compensation expense recognized for the Company’s ESOP equals the fair value of shares that have been allocated or committed to be released for allocation to participants. Any difference between the fair value of the shares at the time and the ESOP’s original acquisition cost is charged or credited to shareholders’ equity (capital surplus). The cost of ESOP shares that have not Earnings Per Share Earnings per common share is computed using the two 260, 260 two two 3: Derivatives Derivatives are recognized as assets and liabilities on the consolidated statement of financial condition and measured at fair value. For exchange-traded contracts, fair value is based on quoted market prices. For non-exchange traded contracts, fair value is based on dealer quotes, pricing models, discounted cash flow methodologies, or similar techniques for which the determination of fair value may Mortgage Loan Commitments Interest Rate Lock Commitments – Forward Delivery Commitments – Interest Rate Swap Agreements – may not The gain or loss on a derivative designated and qualifying as a fair value hedging instrument, as well as the offsetting gain or loss on the hedged item attributable to the risk being hedged, is recognized currently in earnings in the same accounting period. The ineffective portion of the gain or loss on the derivative instrument, if any, is recognized currently in earnings. For fair value hedges, the net settlement (upon close-out or termination) that offsets changes in the value of the loans adjusts the basis of the loans and is deferred and amortized over the life of the loans. The Company did not December 31, 2018 2017. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not Business Combinations, Goodwill and Other Intangible Assets Authoritative guidance requires that all business combinations initiated after December 31, 2001 not The goodwill recorded for the acquisition of the branches of Sterling Financial Corporation (“Sterling”) in 2012 $6,890,000. 2013 $144,000 $7,034,000. first 2018 $5,090,000. not June 30. no 7 10 Recent Accounting Pronouncements In May 2014, No. 2014 09, 606 may July 2015, one first 2018. first 2018 not In January 2016, No. 2016 01, 825 10 December 15, 2017 first 2018. 23. December 31, 2018, In February 2016, No. 2016 02, 842 12 December 15, 2018, seven 2028. third In September 2016, No. 2016 13, 326 The amendments in this update are effective for fiscal years beginning after December 15, 2019, may December 15, 2018, first The Company believes the amendments in this update will have an impact on the Company’s consolidated financial statements and is working to evaluate the significance of that impact. In that regard, we have established a working group under the direction of our Chief Financial Officer and Chief Credit Officer. The group is composed of individuals from the finance and credit administration areas of the Company. We are currently developing an implementation plan, including assessment of processes, segmentation of the loan portfolio and identifying and adding data fields necessary for analysis. The adoption of this standard is likely to result in an increase in the allowance for loan and lease losses as a result of changing from an “incurred loss” model to an “expected loss” model. While we currently cannot reasonably estimate the impact of adopting this standard, we expect the impact will be influenced by the composition, characteristics and quality of our loan and securities portfolios, as well as the general economic conditions and forecasts as of the adoption date. 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 3 - Earnings Per Share
Note 3 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3: Earnings Per Share The computations of basic and diluted earnings per share are below. The weighted average shares for the year ended December 31, 2017 October 2017 1,189,041 Years Ended December 31, 2018 2017 (Dollars in Thousands, Except for Per Share Data) Weighted average shares outstanding during the period in which basic earnings per share is calculated 5,426,605 4,074,231 Dilutive effect of stock compensation 63,742 58,359 Average outstanding shares on which diluted earnings per share is calculated 5,490,347 4,132,590 Net income applicable to common stockholders $ 4,982 $ 4,103 Basic earnings per share $ 0.92 $ 1.01 Diluted earnings per share $ 0.91 $ 0.99 |
Note 4 - Investment Securities
Note 4 - Investment Securities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4: Investment Securities The Company’s investment policy requires that the Company purchase only high-grade investment securities. Most municipal obligations are categorized as “A” or better by a nationally recognized statistical rating organization. These ratings are achieved because the securities are backed by the full faith and credit of the municipality and also supported by third Mortgage-backed securities (“MBSs”) and collateralized mortgage obligations (“CMOs”) are issued by government sponsored corporations, including Federal Home Loan Mortgage Corporation, Fannie Mae and the Guaranteed National Mortgage Association. Asset-backed securities (“ABSs”) are financial securities collateralized by a pool of assets, such as loans, leases, credit card debt, royalties or receivables. An ABS is similar to an MBS, except that the underlying securities are not The amortized cost and fair values of securities, together with unrealized gains and losses, were as follows: December 31, 2018 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Available-for-sale: U.S. government and agency $ 9,333 $ 58 $ (44 ) $ 9,347 Municipal obligations 69,024 244 (990 ) 68,278 Corporate obligations 11,411 8 (300 ) 11,119 Mortgage-backed securities 19,635 86 (373 ) 19,348 Collateralized mortgage obligations 24,229 6 (360 ) 23,875 Asset-backed securities 10,350 6 (158 ) 10,198 Total $ 143,982 $ 408 $ (2,225 ) $ 142,165 December 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Available-for-sale: U.S. government and agency $ 4,881 $ 13 $ (37 ) $ 4,857 Municipal obligations 67,508 807 (429 ) 67,886 Corporate obligations 14,725 18 (99 ) 14,644 Mortgage-backed securities 24,770 364 (265 ) 24,869 Collateralized mortgage obligations 20,051 7 (270 ) 19,788 Asset-backed securities - - - - Total $ 131,935 $ 1,209 $ (1,100 ) $ 132,044 The Company has not Proceeds from sales of available-for-sale securities and the associated gross realized gains and losses were as follows: Years Ended December 31, 2018 2017 (In Thousands) Proceeds from sale of available-for-sale securities $ 51,319 $ 10,585 Gross realized gain on sale of available-for-sale securities $ 191 $ 77 Gross realized loss on sale of available-for-sale securities (378 ) (40 ) Net realized (loss) gain on sale of available-for-sale securities $ (187 ) $ 37 The amortized cost and fair value of securities at December 31, 2018 may Amortized Fair Cost Value (In Thousands) Due in one year or less $ - $ - Due from one to five years 15,337 15,033 Due from five to ten years 12,084 12,039 Due after ten years 72,697 71,870 100,118 98,942 Mortgage-backed securities 19,635 19,348 Collateralized mortgage obligations 24,229 23,875 Total $ 143,982 $ 142,165 Maturities of securities do not At December 31, 2018 2017, $21,408,000 $8,415,000, The Company’s investment securities that have been in a continuous unrealized loss position for less than 12 12 December 31, 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 $ - $ - $ 3,385 $ (44 ) Municipal obligations 17,887 (140 ) 32,712 (850 ) Corporate obligations 2,890 (110 ) 7,220 (190 ) Mortgage-backed securities and collateralized mortgage obligations 5,575 (98 ) 22,559 (635 ) Asset-backed securities 8,200 (158 ) - - Total $ 34,552 $ (506 ) $ 65,876 $ (1,719 ) 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 $ 2,493 $ (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 $ 34,647 $ (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 December 31, 2018 2017, 108 87 not As of December 31, 2018, 74 1.88% December 31, 2017, 52 1.28% December 31, 2018, 11 2.88% December 31, 2017, 15 0.84% no As of December 31, 2018, 19 2.54% December 31, 2017, 20 1.71% December 31, 2018 no not As of December 31, 2018, 4 1.89% March 31, 2018. December 31, 2018 no not |
Note 5 - Loans
Note 5 - Loans | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5: Loans receivable consisted of the following: December 31, 2018 2017 (In Thousands) Real estate loans: Residential 1-4 family $ 144,107 $ 135,217 Commercial real estate 328,438 244,783 Other loans: Home equity 52,159 52,672 Consumer 16,565 15,712 Commercial 76,762 65,863 Total 618,031 514,247 Deferred loan fees, net (1,098 ) (1,093 ) Allowance for loan losses (6,600 ) (5,750 ) Total loans, net $ 610,333 $ 507,404 Within the commercial real estate loan category above, $12,476,000 $13,114,000 December 31, 2018 2017, $2,575,000 $1,303,000 December 31, 2018, The following table includes information regarding nonperforming assets. December 31, 2018 2017 (Dollars in Thousands) Non-accrual loans $ 2,268 $ 977 Accruing loans delinquent 90 days or more 1,477 - Restructured loans, net 22 - Total nonperforming loans 3,767 977 Real estate owned and other repossessed assets, net 107 525 Total nonperforming assets $ 3,874 $ 1,502 Total nonperforming assets as a percentage of total assets 0.45 % 0.21 % Allowance for loan losses $ 6,600 $ 5,750 Percent of allowance for loan losses to nonperforming loans 175.21 % 588.54 % Percent of allowance for loan losses to nonperforming assets 170.37 % 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, January 1, 2018 $ 1,301 $ 2,778 $ 506 $ 225 $ 940 $ 5,750 Charge-offs - (13 ) (80 ) (72 ) (24 ) (189 ) Recoveries - 19 1 27 12 59 Provision - 809 50 10 111 980 Ending balance, December 31, 2018 $ 1,301 $ 3,593 $ 477 $ 190 $ 1,039 $ 6,600 Ending balance, December 31, 2018 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, December 31, 2018 allocated to loans collectively evaluated for impairment $ 1,301 $ 3,593 $ 477 $ 190 $ 1,039 $ 6,600 Loans receivable: Ending balance, December 31, 2018 $ 144,107 $ 328,438 $ 52,159 $ 16,565 $ 76,762 $ 618,031 Ending balance, December 31, 2018 of loans individually evaluated for impairment $ 887 $ 445 $ 491 $ 127 $ 340 $ 2,290 Ending balance, December 31, 2018 of loans collectively evaluated for impairment $ 143,220 $ 327,993 $ 51,668 $ 16,438 $ 76,422 $ 615,741 Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, January 1, 2017 $ 1,241 $ 2,079 $ 460 $ 193 $ 797 $ 4,770 Charge-offs - - - (193 ) (118 ) (311 ) Recoveries - - 40 20 3 63 Provision 60 699 6 205 258 1,228 Ending balance, December 31, 2017 $ 1,301 $ 2,778 $ 506 $ 225 $ 940 $ 5,750 Ending balance, December 31, 2017 allocated to loans individually evaluated for impairment $ - $ - $ - $ 27 $ 22 $ 49 Ending balance, December 31, 2017 allocated to loans collectively evaluated for impairment $ 1,301 $ 2,778 $ 506 $ 198 $ 918 $ 5,701 Loans receivable: Ending balance, December 31, 2017 $ 135,217 $ 244,783 $ 52,672 $ 15,712 $ 65,863 $ 514,247 Ending balance, December 31, 2017 of loans individually evaluated for impairment $ 475 $ - $ 242 $ 153 $ 107 $ 977 Ending balance, December 31, 2017 of loans collectively evaluated for impairment $ 134,742 $ 244,783 $ 52,430 $ 15,559 $ 65,756 $ 513,270 The Company utilizes an 8 Loans Rated Pass 1 5 Loans Rated Special Mention 6 may Loans Rated Substandard 7 not Loans Rated Doubtful 8 Loans Rated 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, 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: December 31, 2018 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 116,065 $ - $ 874 $ - $ - $ 116,939 Residential 1-4 family construction 26,533 - 635 - - 27,168 Commercial real estate 252,731 1,731 2,322 - - 256,784 Commercial construction and development 41,726 - 13 - - 41,739 Farmland 29,915 - - - - 29,915 Other loans: Home equity 51,668 - 491 - - 52,159 Consumer 16,394 - 171 - - 16,565 Commercial 57,778 950 244 81 - 59,053 Agricultural 17,305 - 404 - - 17,709 Total $ 610,115 $ 2,681 $ 5,154 $ 81 $ - $ 618,031 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. Nonperforming loans include non-accrual loans and accruing loans delinquent 90 December 31, 2018 Restructured Performing Loans Nonperforming Total (In Thousands) Real estate loans: Residential 1-4 family $ 116,556 $ - $ 383 $ 116,939 Residential 1-4 family construction 26,534 - 634 27,168 Commercial real estate 255,005 - 1,779 256,784 Commercial construction and development 41,726 - 13 41,739 Farmland 29,915 - - 29,915 Other loans: Home equity 51,668 22 469 52,159 Consumer 16,438 - 127 16,565 Commercial 58,745 - 308 59,053 Agricultural 17,677 - 32 17,709 Total $ 614,264 $ 22 $ 3,745 $ 618,031 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. December 31, 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 $ 381 $ 130 $ 511 $ 253 $ 116,175 $ 116,939 Residential 1-4 family construction 118 - 118 634 26,416 27,168 Commercial real estate 975 1,347 2,322 432 254,030 256,784 Commercial construction and development 9 - 9 13 41,717 41,739 Farmland - - - - 29,915 29,915 Other loans: Home equity 39 - 39 491 51,629 52,159 Consumer 135 - 135 127 16,303 16,565 Commercial 284 - 284 308 58,461 59,053 Agricultural 91 - 91 32 17,586 17,709 Total $ 2,032 $ 1,477 $ 3,509 $ 2,290 $ 612,232 $ 618,031 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 Interest income not $211,000 December 31, 2018. not December 31, 2017. December 31, 2018 2017 $0 $49,000, $2,290,000 not $2,290,000 December 31, 2018. $977,000 $49,000 $928,000 December 31, 2017. The following tables include information regarding impaired loans. December 31, 2018 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (In Thousands) With no related allowance: Real estate loans: Residential 1-4 family $ 253 $ 277 $ - $ 364 Residential 1-4 family construction 634 684 - 317 Commercial real estate 432 527 - 216 Commercial construction and development 13 26 - 6 Farmland - - - - Other loans: Home equity 491 522 - 367 Consumer 127 181 - 126 Commercial 308 310 - 197 Agricultural 32 32 - 16 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 - - - 14 Commercial - - - 11 Agricultural - - - - Total: Real estate loans: Residential 1-4 family 253 277 - 364 Residential 1-4 family construction 634 684 - 317 Commercial real estate 432 527 - 216 Commercial construction and development 13 26 - 6 Farmland - - - - Other loans: Home equity 491 522 - 367 Consumer 127 181 - 140 Commercial 308 310 - 208 Agricultural 32 32 - 16 Total $ 2,290 $ 2,559 $ - $ 1,634 December 31, 2017 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (In Thousands) With no related allowance: First mortgage loans: Residential 1-4 family $ 475 $ 487 $ - $ 348 Residential 1-4 family construction - - - - Commercial real estate - - - - Commercial construction and development - - - - Farmland - - - - Other loans: Home equity 242 263 - 291 Consumer 126 176 - 107 Commercial 85 87 - 42 Agricultural - - - - With a related allowance: First mortgage 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 18 Commercial 22 22 22 11 Agricultural - - - - Total: First mortgage loans: Residential 1-4 family 475 487 - 348 Residential 1-4 family construction - - - - Commercial real estate - - - - Commercial construction and development - - - - Farmland - - - - Other loans: Home equity 242 263 - 291 Consumer 153 203 27 125 Commercial 107 109 22 53 Agricultural - - - - Total $ 977 $ 1,062 $ 49 $ 817 Interest income recognized on impaired loans for the years ended December 31, 2018 2017 Loans are granted to directors and officers of the Company in the ordinary course of business. Such loans are made in accordance with policies established for all loans of the Company, except that directors, officers and employees may Loans receivable (including loans sold and serviced for others) from directors and senior officers and their related parties were as follows: (In Thousands) Balance at January 1, 2017 $ 2,414 Principal additions 1,337 Principal payments (614 ) Balance at December 31, 2017 $ 3,137 Principal additions 853 Principal payments (864 ) Balance at December 31, 2018 $ 3,126 December 31, 2018 2017 (In Thousands) Loans serviced, for the benefit of others, for directors, senior officers and their related parties $ 1,797 $ 1,652 Years Ended December 31, 2018 2017 (In Thousands) Interest income from loans owned for directors, senior officers and their related parties $ 58 $ 58 |
Note 6 - Troubled Debt Restruct
Note 6 - Troubled Debt Restructurings | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Troubled Debt Restructurings [Text Block] | NOTE 6: Troubled 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 had one December 31, 2016 $43,000 $34,000 $42,000 June 30, 2017 $34,000 December 31, 2017, no During the year ended December 31, 2018, one $23,000 no $22,000 December 31, 2018. There were no December 31, 2018 12 90 As of December 31, 2018, no |
Note 7 - Foreclosed Assets
Note 7 - Foreclosed Assets | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | NOTE 7: Foreclosed Assets Foreclosed assets are presented net of an allowance for losses. A summary of the balance of foreclosed assets is presented below: December 31, 2018 2017 (In Thousands) Commercial real estate $ 107 $ 483 Consumer - 17 Commercial - 25 Total foreclosed assets $ 107 $ 525 Expenses applicable to foreclosed assets included the following: Years Ended December 31, 2018 2017 (In Thousands) Write-down on real estate owned and other repossessed assets $ (28 ) $ (45 ) Net loss on sale (54 ) (29 ) Operating expenses net of rental income (55 ) (62 ) Expenses related to foreclosed assets, net $ (137 ) $ (136 ) |
Note 8 - Mortgage Servicing Rig
Note 8 - Mortgage Servicing Rights | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Transfers and Servicing of Financial Assets [Text Block] | NOTE 8: Mortgage Servicing Rights The Company is servicing mortgage loans for the benefit of others totaling approximately $964,967,000 $891,647,000 December 31, 2018 2017, $2,295,000 $2,127,000 December 31, 2018 2017, Custodial balances maintained in connection with the foregoing loan servicing, and included in noninterest checking deposits, were $5,618,000 $4,598,000 December 31, 2018 2017, The following table is a summary of activity in mortgage servicing rights and the valuation allowance: Years Ended December 31, 2018 2017 (In Thousands) Mortgage servicing rights: Beginning balance $ 6,578 $ 5,853 Mortgage servicing rights capitalized 1,725 1,811 Amortization of mortgage servicing rights (1,203 ) (1,086 ) Ending balance 7,100 6,578 Valuation allowance: Beginning balance - - Provision (credited) to operations - - Ending balance - - Mortgage servicing rights, net $ 7,100 $ 6,578 The fair values of these rights were $8,700,000 $7,312,000 December 31, 2018 2017, 12.00% 83.00% 226.00% 119.00% 1.25% |
Note 9 - Premises and Equipment
Note 9 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 9: Premises and Equipment The cost and accumulated depreciation of premises and equipment was as follows: December 31, 2018 2017 (In Thousands) Land $ 7,257 $ 4,086 Buildings and improvements 26,011 21,674 Furniture and equipment 8,428 6,940 Construction in progress 1,787 2,140 43,483 34,840 Accumulated depreciation (14,140 ) (12,882 ) Premises and equipment, net $ 29,343 $ 21,958 Construction in progress at December 31, 2018, $1,282,000 $969,000 December 31, 2018 2017, |
Note 10 - Goodwill and Other In
Note 10 - Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 10: Goodwill and Other Intangible Assets Goodwill and core deposit intangible assets were recorded as part of the Sterling and TwinCo acquisitions. The carrying amount of goodwill was as follows: December 31, 2018 2017 (In Thousands) Goodwill $ 12,124 $ 7,034 The components of core deposit intangible assets were as follows: December 31, 2018 2017 (In Thousands) Core deposit intangible $ 2,640 $ 1,031 Accumulated amortization (1,142 ) (758 ) Core deposit intangible, net $ 1,498 $ 273 Core deposit intangible assets are amortized on an accelerated basis over their estimated life of 10 $385,000 $111,000 December 31, 2018 2017. December 31, 2018 Years ended December 31: (In Thousands) 2019 $ 337 2020 289 2021 241 2022 193 2023 146 Thereafter 292 Total $ 1,498 |
Note 11 - Deposits
Note 11 - Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 11: Deposits Deposits are summarized as follows: December 31, 2018 2017 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in Thousands) Noninterest checking $ 142,788 0.00 % $ 99,799 0.00 % Interest bearing checking 105,115 0.03 % 99,255 0.03 % Savings 108,234 0.05 % 88,603 0.05 % Money market 108,050 0.30 % 89,558 0.17 % Time certificates of deposits 162,424 1.31 % 143,349 0.96 % Total $ 626,611 0.41 % $ 520,564 0.31 % Money market includes $4,019,000 $1,000,000 December 31, 2018 2017, $0 $4,601,000 December 31, 2018 2017, At December 31, 2018 2017, $148,331,000 $106,391,000, $250,000 Time certificates of deposits with balances of $250,000 $33,635,000 $26,225,000 December 31, 2018 2017, At December 31, 2018, (In Thousands) Within one year $ 93,536 One to two years 58,761 Two to three years 5,294 Three to four years 3,683 Thereafter 1,150 Total $ 162,424 Interest expense on deposits was as follows: Years Ended December 31, 2018 2017 (In Thousands) Checking $ 36 $ 31 Savings 53 43 Money market 229 131 Time certificates of deposits 1,738 1,348 Total $ 2,056 $ 1,553 At December 31, 2018 2017, $70,000 $51,000, Directors’ and senior officers’ deposit accounts at December 31, 2018 2017 $8,104,000 $2,146,000, |
Note 12 - Advances From the Fed
Note 12 - Advances From the Federal Home Loan Bank and Other Borrowings | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | NOTE 12: Advances from the Federal Home Loan Bank and Other Borrowings At December 31, 2018, (In Thousands) Within one year $ 90,497 One to two years 7,280 Two to three years 4,445 Three to four years - Four to five years - Thereafter - Total $ 102,222 Federal Home Loan Bank Advances FHLB advances include both fixed and amortizing advances. Fixed advances are due at maturity. Advances are subject to prepayment penalties. Interest rates on these advances are fixed. Advances are collateralized by a blanket pledge of the Bank’s loan portfolio. At December 31, 2018 2017, December 31, 2018, 45.00% $373,448,000. $101,357,000 $82,104,000 December 31, 2018 2017, $620,000 $405,000 December 31, 2018 2017, Other Borrowings At December 31, 2018 2017, $865,000 1.00% 2019. Federal Funds Purchased The Bank has a $7,000,000 $0 December 31, 2018 2017. The Bank has a $10,000,000 $0 December 31, 2018 2017, The Bank previously had a $7,000,000 $0 December 31, 2017 2018. The Bank has a $10,000,000 $0 December 31, 2018 2017, During 2018, $5,000,000 $0 December 31, 2018. Federal Reserve Bank Discount Window For additional liquidity sources, the Bank has a credit facility at the Federal Reserve Bank’s Discount Window. The amount available to the Bank is limited by various collateral requirements. There were no December 31, 2018 2017. $0 December 31, 2018 2017, All Borrowings Outstanding For all borrowings outstanding the weighted average interest rate for advances at December 31, 2018 2017 2.20% 1.58%, $87,283,000 $84,195,000 2018 2017, The maximum amount outstanding at any month-end was $102,222,000 $120,804,000 2018 2017, |
Note 13 - Other Long-term Debt
Note 13 - Other Long-term Debt | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 13: Other Long-Term Debt Other long-term debt consisted of the following: December 31, 2018 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 $ (136 ) $ 10,000 $ (180 ) Subordinated debentures fixed at 6.75%, due 2025 10,000 (143 ) 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 $ (279 ) $ 25,155 $ (344 ) In February 2017, $10,000,000 5.75% 2022. not In June 2015, $10,000,000 2025 6.75% 2 In September 2005, $5,155,000 $5,155,000. December 15, 2005. 6.02% December 2010 3 1.42%, 4.228% 3.114% December 31, 2018 2017, may five December 2035 1 For 2018 2017, $1,432,000 $1,324,000, |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 14: Commitments and Contingencies Various legal claims also arise from time to time in the normal course of business which, in the opinion of management, will have no The Company leases certain office branches under short-term operating leases. Some of these leases have renewal options. Total lease expenditures were $484,000 $408,000 December 31, 2018 2017, Years ended December 31: (In Thousands) 2019 $ 550 2020 470 2021 343 2022 212 2023 218 Thereafter 1,015 Total $ 2,808 |
Note 15 - Accumulated Other Com
Note 15 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 15: Accumulated Other Comprehensive Income (Loss) The following table includes information regarding the activity in accumulated other comprehensive income (loss): Unrealized Unrealized Gains (Losses) (Losses) Gains on Derivatives on Investment Designated as Securities Cash Flow Hedges Available for Sale Total (In Thousands) Balance, January 1, 2017 $ 330 $ (741 ) $ (411 ) Other comprehensive income, before reclassifications and income taxes 1,687 1,397 3,084 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (1,920 ) (37 ) (1,957 ) Income tax benefit (expense) 137 (540 ) (403 ) Total other comprehensive (loss) income (96 ) 820 724 Balance, December 31, 2017 $ 234 $ 79 $ 313 Other comprehensive income (loss), before reclassifications and income taxes 1,207 (2,113 ) (906 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (1,223 ) 187 (1,036 ) Income tax benefit 9 509 518 Total other comprehensive loss (7 ) (1,417 ) (1,424 ) Balance, December 31, 2018 $ 227 $ (1,338 ) $ (1,111 ) |
Note 16 - Income Taxes
Note 16 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 16: Income Taxes The components of the Company’s income tax (benefit) expense were as follows: Years Ended December 31, 2018 2017 (In Thousands) Current U.S. federal $ (123 ) $ 1,509 Montana 349 417 Total current income tax expense 226 1,926 Deferred U.S. federal 609 198 Montana 79 4 Total deferred income tax expense 688 202 Total income tax expense $ 914 $ 2,128 The nature and components of deferred tax assets and liabilities were as follows: December 31, 2018 2017 (In Thousands) Deferred tax assets: Loans receivable $ 1,738 $ 1,596 Deferred loan fees 314 334 Deferred compensation 630 583 Employee benefits 268 319 Unrealized losses on securities available-for-sale 479 - Acquisition costs 306 358 Acquisition fair value adjustments 346 - New Market Tax Credits carry forward 459 626 Alternative Minimum Tax carry forward 233 466 Other 364 272 Total deferred tax assets 5,137 4,554 Deferred tax liabilities: Premises and equipment 796 715 Federal Home Loan Bank stock 26 138 Mortgage servicing rights 1,680 1,318 Unrealized gains on securities available-for-sale - 30 Unrealized gains on hedging 82 91 Goodwill 748 659 Intangibles 347 - Other 268 243 Total deferred tax liabilities 3,947 3,194 Net deferred tax asset $ 1,190 $ 1,360 The Company believes, based upon the available evidence, that all deferred tax assets will be realized in the normal course of operations. Accordingly, these assets have not A reconciliation of the Company’s effective income tax provision (benefit) to the statutory federal income tax rate was as follows: Years Ended December 31, 2018 2017 % of % of Pretax Pretax Amount Income Amount Income (Dollars in Thousands) Federal income taxes at the statutory rate $ 1,238 21.00 % $ 2,119 34.00 % State income taxes 398 6.75 % 421 6.75 % Tax-exempt interest income (365 ) -6.19 % (466 ) -7.48 % Income from bank-owned life insurance (128 ) -2.17 % (170 ) -2.73 % New Market Tax Credits (456 ) -7.73 % (456 ) -7.32 % Impact due to tax rate change - 0.00 % 715 11.47 % Other, net 227 3.84 % (35 ) -0.54 % Actual tax expense and effective tax rate $ 914 15.50 % $ 2,128 34.15 % As a result of the Tax Cuts and Job Act enacted December 22, 2017, one $715,000 fourth 2017 The Company has equity investments in Certified Development Entities which have received allocations of New Markets Tax Credits. Administered by the Community Development Financial Institutions Fund of the U.S. Department of the Treasury, the program is aimed at stimulating economic and community development and job creation in low-income communities. The federal income tax credits received are expected to be $2,964,000 seven $2,736,000 December 31, 2018. not $2,277,000 December 31, 2018. $459,000 |
Note 17 - Supplemental Cash Flo
Note 17 - Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | NOTE 17: Supplemental Cash Flow Information Years Ended December 31, 2018 2017 (In Thousands) Supplemental cash flow information: Cash paid during the year for interest $ 4,824 $ 3,831 Cash paid during the year for income taxes 395 1,605 Non-cash investing and financing activities: (Decrease) increase in market value of securities available-for-sale $ (1,926 ) $ 1,360 Mortgage servicing rights recognized 1,725 1,811 Loans transferred to real estate and other assets acquired in foreclosure 4 66 Stock issued in connection with TwinCo acquisition 9,030 - Treasury shares reissued for compensation 186 145 Employee Stock Ownership Plan shares released 316 319 Supplemental schedule of non-cash investing activities related to acquisitions: Assets acquired: 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 non-cash assets acquired $ 90,392 $ - Liabilities assumed: Deposits $ 82,190 $ - Accrued expenses and other liabilities 19 - Total liabilities assumed $ 82,209 $ - See Note 24. |
Note 18 - Regulatory Capital Re
Note 18 - Regulatory Capital Requirements | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 18: Regulatory Capital Requirements The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not Beginning January 1, 2015, January 1, 2015 December 31, 2019. When fully phased in on January 1, 2019, 1 4.5%, 2.5% 4.5% 1 1 7.0% 1 6.0 8.5% 8.0% 10.5% 1 4.0%. Management believes that, as of December 31, 2018, Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 1 December 31, 2018 2017, As of December 31, 2018, 1 1 no December 31, 2018 1.875% January 1, 2018: Minimum Minimum Required Minimum Required To Be Well for Capital Adequacy for Capital Adequacy Capitalized Under Basel III Basel III Prompt Corrective Actual Phase-In Schedule Fully Phased-In Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) December 31, 2018: Total risk-based capital to risk weighted assets Consolidated $ 104,186 16.449 % $ 62,545 9.875 % $ 66,504 10.500 % $ N/A N/A % Bank 100,131 16.023 61,710 9.875 65,615 10.500 62,491 10.000 Tier I capital to risk weighted assets Consolidated 87,586 13.829 49,878 7.875 53,836 8.500 N/A N/A Bank 93,531 14.967 49,212 7.875 53,117 8.500 49,993 8.000 Common equity tier I capital to risk weighted assets Consolidated 82,586 13.039 40,377 6.375 44,336 7.000 N/A N/A Bank 93,531 14.967 39,838 6.375 43,744 7.000 40,619 6.500 Tier 1 capital to adjusted total average assets Consolidated 87,586 10.507 33,344 4.000 33,344 4.000 N/A N/A Bank 93,531 11.222 33,338 4.000 33,338 4.000 41,673 5.000 The Bank’s actual capital amounts and ratios as of December 31, 2017 1.25% January 1, 2017: Minimum Minimum Required Minimum Required To Be Well for Capital Adequacy for Capital Adequacy Capitalized Under Basel III Basel III Prompt Corrective Actual Phase-In Schedule Fully Phased-In Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) December 31, 2017: Total risk-based capital to risk weighted assets Consolidated $ 96,602 18.27 % $ 48,902 9.25 % $ 55,510 10.50 % $ N/A N/A % Bank 90,340 17.41 47,999 9.25 51,891 10.50 51,891 10.00 Tier I capital to risk weighted assets Consolidated 80,852 15.29 38,328 7.25 44,937 8.50 N/A N/A Bank 84,590 16.30 37,621 7.25 44,107 8.50 41,513 8.00 Common equity tier I capital to risk weighted assets Consolidated 75,852 14.35 30,398 5.75 37,007 7.00 N/A N/A Bank 84,590 16.30 29,837 5.75 36,324 7.00 33,729 6.50 Tier 1 capital to adjusted total average assets Consolidated 80,852 11.51 28,089 4.00 28,089 4.00 N/A N/A Bank 84,590 12.17 27,792 4.00 27,792 4.00 34,739 5.00 A reconciliation of the Bank’s capital determined by GAAP to capital defined for regulatory purposes is as follows: December 31, 2018 2017 (In Thousands) Capital determined by GAAP $ 105,965 $ 92,429 Unrealized loss (gain) on securities available-for-sale 1,126 (153 ) Unrealized gain on forward delivery commitments (227 ) (234 ) Goodwill and core deposit intangibles, net of associated deferred tax liabilities (12,641 ) (6,595 ) Disallowed deferred tax assets (692 ) (857 ) Tier I capital 93,531 84,590 Allowance for loan losses 6,600 5,750 Total risk-based capital $ 100,131 $ 90,340 Dividend Limitations Under State of Montana banking regulation, member banks such as the Bank generally may two $11,400,000 $2,000,000 December 31, 2018 2017, 2018 $9,900,000. $0.09 first two 2018 $0.0925 two 2018. $0.08 first two 2017 $0.09 two 2017. Liquidation Rights Eagle Bancorp Montana, Inc. holds a liquidation account for the benefit of certain depositors of the Bank who remain depositors of the Bank at the time of liquidation. The liquidation account is designed to provide payments to these depositors of their liquidation interests in the event of a liquidation of Eagle and the Bank, or the Bank alone. In the unlikely event that Eagle and the Bank were to liquidate in the future, all claims of creditors, including those of depositors, would be paid first, followed by distribution to depositors as of November 30, 2008 ( After two not no not |
Note 19 - Related Party Transac
Note 19 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 19: Related Party Transactions In the normal course of lending, the Bank provided a commercial line of credit to an affiliated entity that is partially owned by one December 31, 2018 $0 December 31, 2018 2017, $296,000 $332,000 December 31, 2018 2017, |
Note 20 - Employee Benefits
Note 20 - Employee Benefits | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 20: Employee Benefits Profit Sharing Plan The Company provides a noncontributory profit sharing plan for eligible employees who have completed one $573,000 $565,000 December 31, 2018 2017, The Company’s profit sharing plan includes a 401 may 50.00% 4.00% December 31, 2018 2017, $270,000 $206,000, Deferred Compensation Plans The Company has entered into deferred compensation contracts with current key employees. The contracts provide fixed benefits payable in equal annual installments upon retirement. The Company purchased life insurance contracts that may December 31, 2018 2017, $382,000 $272,000, $2,093,000 $1,833,000 December 31, 2018 2017, Employee Stock Ownership Plan The Company has established an ESOP for eligible employees who meet certain age and service requirements. At inception, in April 2000, $368,000 46,006 $8 December 31, 2009. April 2010, $1,971,420 197,142 $10 twelve 8.00%. Shares purchased by the ESOP are held in a suspense account by the plan trustee until allocated to participant accounts. Shares released from the suspense account are allocated to participants on the basis of their relative compensation in the year of allocation. Participants become vested in the allocated shares over a period not seven Total ESOP expenses of $293,000 $292,000 December 31, 2018 2017, 16,616 December 31, 2018 2017. 47,594 $477,000 December 31, 2018) not $785,000 December 31, 2018. Stock Incentive Plan The Company adopted the stock incentive plan on November 1, 2011 98,571. 98,571 November 2011. December 31, 2015 98,571 168,571. December 31, 2017 168,571 218,571. five one Stock Incentive Plan – continued The following table shows the activity of the awards granted: Number of Shares Unvested awards as of January 1, 2017 64,268 Awards granted 30,700 Awards vested (13,228 ) Awards forfeited (17,280 ) Unvested awards as of December 31, 2017 64,460 Awards granted 12,900 Awards vested (17,200 ) Awards forfeited - Unvested awards as of December 31, 2018 60,160 $287,000 $277,000 December 31, 2018 2017, December 31, 2018, 60,160 $914,000 November 2023. |
Note 21 - Financial Instruments
Note 21 - Financial Instruments and Off-balance-sheet Activities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Financial Instruments and Off-balance Sheet Activities, Disclosure [Text Block] | NOTE 21: Financial Instruments and Off-Balance-Sheet Activities All financial instruments held or issued by the Company are held or issued for purposes other than trading. In the ordinary course of business, the Bank enters into off-balance-sheet financial instruments consisting of commitments to extend credit and forward delivery commitments for the sale of whole loans to the secondary market. In response to marketplace demands, the Bank routinely makes commitments to extend credit for fixed rate and variable rate loans with or without rate lock guarantees. When rate lock guarantees are made to customers, the Bank becomes subject to market risk for changes in interest rates that occur between the rate lock date and the date that a firm commitment to purchase the loan is made by a secondary market investor. Generally, as interest rates increase, the market value of the loan commitment goes down. The opposite effect takes place when interest rates decline. Commitments to extend credit are agreements to lend to a customer as long as the borrower satisfies the Bank’s underwriting standards and related provisions of the borrowing agreements. Commitments generally have fixed expiration dates or other termination clauses and may 3 12 The Bank has remaining available balances for lines of credit representing credit risk of approximately $111,460,000 $92,740,000 December 31, 2018 2017, $3,925,000 $3,534,000 December 31, 2018 2017, Mortgage loan commitments are referred to as derivative loan commitments if the loan that will result from exercise of the commitment will be held-for-sale upon funding. The Bank enters into commitments to fund residential mortgage loans at specified times in the future, with the intention that these loans will subsequently be sold in the secondary market. A mortgage loan commitment binds the Bank to lend funds to a potential borrower at a specified interest rate and within a specified period of time, generally up to 60 Outstanding derivative loan commitments expose the Bank to the risk that the price of the loans arising from exercise of the loan commitment might decline from inception of the rate lock to funding of the loan due to increases in mortgage interest rates. If interest rates increase, the value of these loan commitments decreases. Conversely, if interest rates decrease, the value of these loan commitments increases. The notional amount of interest rate lock commitments was $18,745,000 $15,338,000 December 31, 2018 2017, 3.75% 6.25% 3.25% 5.00% December 31, 2018 2017, The Company has no not |
Note 22 - Derivatives and Hedgi
Note 22 - Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 22: Derivatives and Hedging Activities Forward Delivery Commitments The Company uses mandatory sell forward delivery commitments to sell whole loans. These commitments are also used as a hedge against exposure to interest rate risks resulting from rate locked loan origination commitments on certain mortgage loans held-for-sale. Gains and losses on the items hedged are deferred and recognized in accumulated other comprehensive income until the commitments are completed. At the completion of the commitments the gains and losses are recognized in the Company’s income statement. As of December 31, 2018 2017, $7,104,000 $8,735,000, 3.50% 6.25% 2.48% 4.75% December 31, 2018 2017, $309,000 $325,000 December 31, 2018 2017, Forward Delivery Commitments – continued The Company did not The Company did not not December 31, 2018. Refer to Note 21 not |
Note 23 - Fair Value Disclosure
Note 23 - Fair Value Disclosures | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | NOTE 23: Fair Value Disclosures The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not not The Company uses valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement costs). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may The fair value hierarchy is as follows: ● Level 1 ● Level 2 1 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 table summarizes financial assets and liabilities measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: December 31, 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 $ - $ 9,347 $ - $ 9,347 Municipal obligations - 68,278 - 68,278 Corporate obligations - 11,119 - 11,119 Mortgage-backed securities - 19,348 - 19,348 Collateralized mortgage obligations - 23,875 - 23,875 Asset-backed securities - 10,198 - 10,198 Loans held-for-sale - 7,318 - 7,318 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 liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not The following tables summarizes financial assets and liabilities measured at fair value on a nonrecurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: December 31, 2018 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 2,290 $ 2,290 Repossessed assets - - 107 107 As of December 31, 2018, $2,290,000 not $2,290,000 3 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 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 December 31, Valuation Unobservable Signficant Input Instrument 2018 2017 Technique Inputs Values (Dollars In Thousands) Impaired loans $ 2,290 $ 928 Appraisal of collateral (1) Appraisal adjustments 10 - 30% Repossessed assets $ 107 $ 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 December 31, 2018 2017, 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 December 31, 2018 Level 1 Level 2 Level 3 Total Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 11,201 $ - $ - $ 11,201 $ 11,201 Federal Home Loan Bank stock 5,011 - - 5,011 5,011 Federal Reserve Bank stock 2,033 - - 2,033 2,033 Loans receivable, net - - 603,361 603,361 608,043 Accrued interest and dividends receivable 3,479 - - 3,479 3,479 Mortgage servicing rights - - 8,670 8,670 7,100 Cash surrender value of life insurance 20,545 - - 20,545 20,545 Financial liabilities: Non-maturing interest bearing deposits - 321,399 - 321,399 321,399 Noninterest bearing deposits 142,788 - - 142,788 142,788 Time certificates of deposit - - 160,735 160,735 162,424 Accrued expenses and other liabilities 5,388 - - 5,388 5,388 Federal Home Loan Bank advances and other borrowings - - 101,885 101,885 102,222 Other long-term debt - - 24,002 24,002 25,155 Off-balance-sheet instruments Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - December 31, 2017 Level 1 Level 2 Level 3 Total 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. Cash, Interest Bearing Accounts, Accrued Interest and Dividend Receivable and Accrued Expenses and Other Liabilities Stock in the FHLB and FRB Loans Receivable – 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 Servicing Rights 12.00% 83.00% 226.00% 119.00% 1.25% Cash Surrender Value of Life Insurance Deposits and Time Certificates of Deposit no Advances from the FHLB/Other Borrowings and Other Long-Term Debt December 31, 2018 2017, Off-Balance-Sheet Instruments - no |
Note 24 - Mergers and Acquisiti
Note 24 - Mergers and Acquisitions | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 24: Mergers and Acquisitions 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 The total discount on acquired loans was $1,834,000 January 31, 2018. December 31, 2018, $589,000. $1,245,000 December 31, 2018. Two impaired loans were acquired through the acquisition with a balance of $1,188,000 January 31, 2018. December 31, 2018 $1,170,000. 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 related to the TwinCo acquisition 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 December 31, 2018. The accompanying consolidated statements of income include the results of operations of the acquired entity since the January 31, 2018 December 31, 2018 2017 January 1, 2017. not January 1, 2017. Years Ended December 31, 2018 2017 (Dollars in Thousands, Except Per Share Data) Pro forma net income (1) Net interest income after loan loss provision $ 29,044 $ 26,249 Noninterest income 13,360 14,655 Noninterest expense 36,341 33,328 Income before income taxes 6,063 7,576 Income tax expense 960 2,121 Net income $ 5,103 $ 5,455 Pro forma earnings per share (1) Basic earnings per share $ 0.94 $ 1.34 Diluted earnings per share $ 0.93 $ 1.32 Weighted average shares outstanding, basic 5,426,605 4,074,231 Weighted average shares outstanding, diluted 5,490,347 4,132,590 ( 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. Effective January 1, 2019, August 21, 2018, four $108,000,000 $92,000,000 $92,000,000 September 30, 2018 January 1, 2019 |
Note 25 - Condensed Parent Comp
Note 25 - Condensed Parent Company Financial Statements | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 25: Condensed Parent Company Financial Statements Included below are the condensed financial statements of the Parent Company, Eagle Bancorp Montana, Inc.: Eagle Bancorp Montana, Inc. Condensed Statements of Financial Condition December 31, 2018 2017 (In Thousands) Assets: Cash and cash equivalents $ 1,216 $ 878 Securities available-for-sale 10,783 13,114 Investment in Eagle Bancorp Statutory Trust I 155 155 Investment in Opportunity Bank of Montana 105,963 92,429 Other assets 1,813 2,095 Total assets $ 119,930 $ 108,671 Liabilities and Shareholders's Equity: Accounts payable and accrued expenses $ 248 $ 244 Other long-term debt 24,876 24,811 Shareholders' equity 94,806 83,616 Total liabilities and shareholders' equity $ 119,930 $ 108,671 Eagle Bancorp Montana, Inc. Condensed Statements of Income Years Ended December 31, 2018 2017 (In Thousands) Interest income $ 292 $ 148 Interest expense (1,432 ) (1,324 ) Noninterest income (20 ) - Noninterest expense (1,712 ) (1,238 ) Loss before income taxes (2,872 ) (2,414 ) Income tax benefit (557 ) (279 ) Loss before equity in undistributed earnings of Opportunity Bank of Montana (2,315 ) (2,135 ) Equity in undistributed earnings of Opportunity Bank of Montana 7,297 6,238 Net income $ 4,982 $ 4,103 Eagle Bancorp Montana, Inc. Condensed Statements of Cash Flow Years Ended December 31, 2018 2017 (In Thousands) Cash Flows from Operating Activities: Net income $ 4,982 $ 4,103 Adjustments to reconcile net income to net cash used in operating activities: Equity in undistributed earnings of Opportunity Bank of Montana (7,297 ) (6,238 ) Other adjustments, net 480 311 Net cash used in operating activities (1,835 ) (1,824 ) Cash Flows from Investing Activities: Cash contributions from Opportunity Bank of Montana 11,400 2,000 Cash distributions to Opportunity Bank of Montana - (19,800 ) Cash paid for TwinCo acquisition, net of cash received (9,895 ) - Activity in available-for-sale securities: Sales 1,465 - Maturities, principal payments and calls 607 957 Purchases - (10,439 ) Net cash provided by (used in) investing activities 3,577 (27,282 ) Cash Flows from Financing Activities: Employee Stock Ownership Plan payments and dividends 310 236 Proceeds from issuance of long-term debt - 10,000 Payments for debt issuance costs - (219 ) Proceeds from issuance of common stock - 20,157 Treasury shares reissued for compensation 281 261 Dividends paid (1,995 ) (1,404 ) Net cash (used in) provided by financing activities (1,404 ) 29,031 Net Increase (Decrease) in Cash and Cash Equivalents 338 (75 ) Cash and Cash Equivalents, beginning of period 878 953 Cash and Cash Equivalents, end of period $ 1,216 $ 878 |
Note 26 - Quarterly Results of
Note 26 - Quarterly Results of Operations (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 26: Quarterly Results of Operations (Unaudited) The following is a condensed summary of quarterly consolidated results of operations: Year Ended December 31, 2018 First Second Third Fourth Quarter Quarter Quarter Quarter (Dollars in Thousands, Except Per Share Data) Interest and dividend income $ 7,957 $ 8,976 $ 8,825 $ 9,085 Interest expense 1,110 1,166 1,348 1,478 Net interest income 6,847 7,810 7,477 7,607 Loan loss provision 502 24 194 260 Net interest income after loan loss provision 6,345 7,786 7,283 7,347 Noninterest income 2,679 3,084 3,761 3,801 Noninterest expense 8,324 9,244 9,052 9,570 Income before income tax expense 700 1,626 1,992 1,578 Income tax expense 127 293 360 134 Net income $ 573 $ 1,333 $ 1,632 $ 1,444 Other comprehensive (loss) income $ (1,864 ) $ (68 ) $ (1,018 ) $ 1,526 Basic earnings per common share $ 0.11 $ 0.24 $ 0.30 $ 0.27 Diluted earnings per common share $ 0.11 $ 0.24 $ 0.30 $ 0.26 Year Ended December 31, 2017 First Second Third Fourth Quarter Quarter Quarter Quarter (Dollars in Thousands, Except Per Share Data) Interest and dividend income $ 6,340 $ 6,925 $ 7,224 $ 7,371 Interest expense 857 1,045 1,065 1,127 Net interest income 5,483 5,880 6,159 6,244 Loan loss provision 301 302 331 294 Net interest income after loan loss provision 5,182 5,578 5,828 5,950 Noninterest income 3,208 3,570 3,988 3,565 Noninterest expense 7,439 7,620 7,557 8,022 Income before income tax expense 951 1,528 2,259 1,493 Income tax expense 188 462 538 940 Net income $ 763 $ 1,066 $ 1,721 $ 553 Other comprehensive income (loss) $ 37 $ 1,247 $ (227 ) $ (333 ) Basic earnings per common share $ 0.20 $ 0.28 $ 0.45 $ 0.11 Diluted earnings per common share $ 0.20 $ 0.27 $ 0.45 $ 0.11 |
Note 27 - Subsequent Events
Note 27 - Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 27: Subsequent Events See Note 2. 2019. 24. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include Eagle Bancorp Montana Inc., the Bank, Eagle Bancorp Statutory Trust I and AFSB NMTC Investment Fund, LLC. All significant intercompany transactions and balances have been eliminated in consolidation. |
Basis of Presentation and Use of Estimates [Policy Text Block] | Consolidated Financial Statement Presentation and Use of Estimates The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In preparing consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statement of financial condition and reported amounts of revenues and expenses during the reporting period. Actual results could differ from estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, mortgage servicing rights, the valuation of financial instruments, deferred tax assets and liabilities and the valuation of foreclosed assets. In connection with the determination of the estimated losses on loans, foreclosed assets and valuation of mortgage servicing rights, management obtains independent appraisals and valuations. Certain prior period amounts were reclassified to conform to the presentation for 2018. no December 31, 2018. March 31, 2018, 24. $55,000,000 no not December 31, 2018 The Company evaluated subsequent events for potential recognition and/or disclosure through the date the consolidated financial statements were issued. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Significant Group Concentrations of Credit Risk Most of the Company’s business activity is with customers located within Montana. Note 4: 5: not one The Company carries certain assets with other financial institutions which are subject to credit risk by the amount such assets exceed federal deposit insurance limits. At December 31, 2018 2017, no Management monitors financial stability of correspondent banks and considers amounts advanced in excess of FDIC insurance limits to present no |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Accounting Standards Codification (“ASC”) 606, January 1, 2018. The majority of our revenue-generating transactions are not 606, 606 not 606. 606 Wealth Management Income Service Charges may Interchange and Other Fees |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For the purpose of presentation in the consolidated statements of cash flows, cash and cash equivalents are defined as those amounts included in the balance sheet captions “cash and due from banks” and “interest bearing deposits in banks” all of which mature within ninety The Bank properly maintains amounts in excess of reserve balances as required by the FRB. The Bank had vault cash reserves in excess of the required reserve amount of $1,036,000 $880,000 December 31, 2018 2017, |
Marketable Securities, Policy [Policy Text Block] | Investment Securities The Company can designate debt and equity securities as held-to-maturity, available-for-sale or trading. At December 31, 2018 2017 Held-to-Maturity Available-for-Sale may Declines in the fair value of individual held-to-maturity and available-for-sale securities below their cost that are other than temporary are recognized by write-downs of the individual securities to their fair value. Such write-downs would be included in earnings as realized losses. Trading |
Federal Home Loan Bank Stock, Policy [Policy Text Block] | Federal Home Loan Bank Stock The Company’s investment in Federal Home Loan Bank (“FHLB”) of Des Moines stock is a restricted investment carried at cost ( $100 50,114 40,861 December 31, 2018 2017, |
Federal Reserve Bank Stock [Policy Text Block] | Federal Reserve Bank Stock The Company’s investment in FRB stock is a restricted investment carried at cost, which approximates its fair value. Although the par value of the stock is $100 $50 40,650 29,295 December 31, 2018 2017, 6.00% |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Mortgage Loans Held-for-Sale Mortgage loans originated and intended for sale in the secondary market are carried at fair value, determined in aggregate, plus the fair value of associated derivative financial instruments. Net unrealized losses, if any, are recognized in a valuation allowance by a charge to income. |
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block] | Loans The Bank grants mortgage, commercial and consumer loans to customers. A substantial portion of the loan portfolio is represented by mortgage loans in Montana. The ability of the Bank’s debtors to honor their contracts is dependent upon the general economic conditions in this area. Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding unpaid principal balances net of any unearned income, allowance for loan losses, and unamortized deferred fees or costs on originated loans and unamortized premiums or unaccreted discounts on purchased loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs are deferred and amortized over the contractual life of the loan, and recorded as an adjustment to the yield, using the interest method. Loan Origination/Risk Management may A reporting system supplements the loan review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and nonperforming and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions. The Bank regularly contracts for independent loan reviews that validate the credit risk program. Results of these reviews are presented to management. The loan review process compliments and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as, the Company’s policies and procedures. Residential 1 4 1 4 may 1 4 80.00% 30 Commercial Real Estate Loans may Construction Loans no may may no Agricultural Loans may Home Equity Loans may may not first 1 4 85.00% Consumer Loans Commercial Loans Non-Accrual and Past Due Loans not may not may 90 not may not |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management's periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of specific, general and unallocated components. For such loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is based on historical loss experience adjusted for qualitative factors. An unallocated component is maintained to cover uncertainties that could affect management's estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | Troubled Debt Restructured Loans A troubled debt restructured loan is a loan in which the Bank grants a concession to the borrower that it would not not |
Transfers and Servicing of Financial Assets, Servicing of Financial Assets, Policy [Policy Text Block] | Mortgage Servicing Rights Servicing assets are recognized as separate assets when rights are acquired through purchase or through sale of financial assets. Generally, purchased servicing rights are capitalized at the cost to acquire the rights. For sales of mortgage loans, a portion of the cost of originating the loan is allocated to the servicing right based on relative fair value. Fair value is based on a market price valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that the fair value is less than the capitalized amount for the tranches. If the Company later determines that all or a portion of the impairment no may Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. |
Bank Owned Life Insurance [Policy Text Block] | Cash Surrender Value of Life Insurance Life insurance policies are initially recorded at cost at the date of purchase. Subsequent to purchase, the policies are periodically adjusted for fair value. The adjustment to fair value increases or decreases the carrying value of the policies and is recorded as an income or expense on the consolidated statement of income. For the years ended December 31, 2018 2017, no |
Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block] | Foreclosed Assets Assets acquired through, or in lieu of, loan foreclosure are initially recorded at fair value less estimated selling cost at the date of foreclosure. All write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, property held-for-sale is carried at fair value less cost to sell. Impairment losses on property to be held and used are measured as the amount by which the carrying amount of a property exceeds its fair value. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. Valuations are periodically performed by management, and any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the lower of its cost or fair value less cost to sell. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Land is carried at cost. Property and equipment is recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the expected useful lives of the assets, ranging from 3 40 |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company adopted authoritative guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions. The Company’s income tax expense consists of the following components: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, not 50 not 50 not not not not The Company recognizes interest accrued on penalties related to unrecognized tax benefits in tax expense. During the years ended December 31, 2018 2017 no not December 31, 2018 2017. no 2015 2015 |
Stockholders' Equity, Policy [Policy Text Block] | Treasury Stock Treasury stock is accounted for on the cost method and consists of 241,290 258,490 December 31, 2018 2017, On July 19, 2018, 100,000 may No three December 31, 2018 September 30, 2018. 2019, 36,000 $17.49 July 19, 2019. On July 20, 2017, 100,000 No July 20, 2018. On July 21, 2016, 100,000 No July 21, 2017. |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs The Company expenses advertising costs as they are incurred. Advertising costs were $1,158,000 $966,000 December 31, 2018 2017, |
Employee Stock Ownership Plan (ESOP), Policy [Policy Text Block] | Employee Stock Ownership Plan Compensation expense recognized for the Company’s ESOP equals the fair value of shares that have been allocated or committed to be released for allocation to participants. Any difference between the fair value of the shares at the time and the ESOP’s original acquisition cost is charged or credited to shareholders’ equity (capital surplus). The cost of ESOP shares that have not |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Earnings per common share is computed using the two 260, 260 two two 3: |
Derivatives, Policy [Policy Text Block] | Derivatives Derivatives are recognized as assets and liabilities on the consolidated statement of financial condition and measured at fair value. For exchange-traded contracts, fair value is based on quoted market prices. For non-exchange traded contracts, fair value is based on dealer quotes, pricing models, discounted cash flow methodologies, or similar techniques for which the determination of fair value may Mortgage Loan Commitments Interest Rate Lock Commitments – Forward Delivery Commitments – Interest Rate Swap Agreements – may not The gain or loss on a derivative designated and qualifying as a fair value hedging instrument, as well as the offsetting gain or loss on the hedged item attributable to the risk being hedged, is recognized currently in earnings in the same accounting period. The ineffective portion of the gain or loss on the derivative instrument, if any, is recognized currently in earnings. For fair value hedges, the net settlement (upon close-out or termination) that offsets changes in the value of the loans adjusts the basis of the loans and is deferred and amortized over the life of the loans. The Company did not December 31, 2018 2017. |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Sales, Policy [Policy Text Block] | Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not |
Business Combinations Policy [Policy Text Block] | Business Combinations, Goodwill and Other Intangible Assets Authoritative guidance requires that all business combinations initiated after December 31, 2001 not The goodwill recorded for the acquisition of the branches of Sterling Financial Corporation (“Sterling”) in 2012 $6,890,000. 2013 $144,000 $7,034,000. first 2018 $5,090,000. not June 30. no 7 10 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In May 2014, No. 2014 09, 606 may July 2015, one first 2018. first 2018 not In January 2016, No. 2016 01, 825 10 December 15, 2017 first 2018. 23. December 31, 2018, In February 2016, No. 2016 02, 842 12 December 15, 2018, seven 2028. third In September 2016, No. 2016 13, 326 The amendments in this update are effective for fiscal years beginning after December 15, 2019, may December 15, 2018, first The Company believes the amendments in this update will have an impact on the Company’s consolidated financial statements and is working to evaluate the significance of that impact. In that regard, we have established a working group under the direction of our Chief Financial Officer and Chief Credit Officer. The group is composed of individuals from the finance and credit administration areas of the Company. We are currently developing an implementation plan, including assessment of processes, segmentation of the loan portfolio and identifying and adding data fields necessary for analysis. The adoption of this standard is likely to result in an increase in the allowance for loan and lease losses as a result of changing from an “incurred loss” model to an “expected loss” model. While we currently cannot reasonably estimate the impact of adopting this standard, we expect the impact will be influenced by the composition, characteristics and quality of our loan and securities portfolios, as well as the general economic conditions and forecasts as of the adoption date. 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 3 - Earnings Per Share (Ta
Note 3 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended December 31, 2018 2017 (Dollars in Thousands, Except for Per Share Data) Weighted average shares outstanding during the period in which basic earnings per share is calculated 5,426,605 4,074,231 Dilutive effect of stock compensation 63,742 58,359 Average outstanding shares on which diluted earnings per share is calculated 5,490,347 4,132,590 Net income applicable to common stockholders $ 4,982 $ 4,103 Basic earnings per share $ 0.92 $ 1.01 Diluted earnings per share $ 0.91 $ 0.99 |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Marketable Securities [Table Text Block] | December 31, 2018 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Available-for-sale: U.S. government and agency $ 9,333 $ 58 $ (44 ) $ 9,347 Municipal obligations 69,024 244 (990 ) 68,278 Corporate obligations 11,411 8 (300 ) 11,119 Mortgage-backed securities 19,635 86 (373 ) 19,348 Collateralized mortgage obligations 24,229 6 (360 ) 23,875 Asset-backed securities 10,350 6 (158 ) 10,198 Total $ 143,982 $ 408 $ (2,225 ) $ 142,165 December 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Available-for-sale: U.S. government and agency $ 4,881 $ 13 $ (37 ) $ 4,857 Municipal obligations 67,508 807 (429 ) 67,886 Corporate obligations 14,725 18 (99 ) 14,644 Mortgage-backed securities 24,770 364 (265 ) 24,869 Collateralized mortgage obligations 20,051 7 (270 ) 19,788 Asset-backed securities - - - - Total $ 131,935 $ 1,209 $ (1,100 ) $ 132,044 |
Schedule of Realized Gain (Loss) [Table Text Block] | Years Ended December 31, 2018 2017 (In Thousands) Proceeds from sale of available-for-sale securities $ 51,319 $ 10,585 Gross realized gain on sale of available-for-sale securities $ 191 $ 77 Gross realized loss on sale of available-for-sale securities (378 ) (40 ) Net realized (loss) gain on sale of available-for-sale securities $ (187 ) $ 37 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair Cost Value (In Thousands) Due in one year or less $ - $ - Due from one to five years 15,337 15,033 Due from five to ten years 12,084 12,039 Due after ten years 72,697 71,870 100,118 98,942 Mortgage-backed securities 19,635 19,348 Collateralized mortgage obligations 24,229 23,875 Total $ 143,982 $ 142,165 |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31, 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 $ - $ - $ 3,385 $ (44 ) Municipal obligations 17,887 (140 ) 32,712 (850 ) Corporate obligations 2,890 (110 ) 7,220 (190 ) Mortgage-backed securities and collateralized mortgage obligations 5,575 (98 ) 22,559 (635 ) Asset-backed securities 8,200 (158 ) - - Total $ 34,552 $ (506 ) $ 65,876 $ (1,719 ) 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 $ 2,493 $ (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 $ 34,647 $ (253 ) $ 43,672 $ (847 ) |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2018 2017 (In Thousands) Real estate loans: Residential 1-4 family $ 144,107 $ 135,217 Commercial real estate 328,438 244,783 Other loans: Home equity 52,159 52,672 Consumer 16,565 15,712 Commercial 76,762 65,863 Total 618,031 514,247 Deferred loan fees, net (1,098 ) (1,093 ) Allowance for loan losses (6,600 ) (5,750 ) Total loans, net $ 610,333 $ 507,404 |
Schedule of Information Regarding Non-performing Assets [Table Text Block] | December 31, 2018 2017 (Dollars in Thousands) Non-accrual loans $ 2,268 $ 977 Accruing loans delinquent 90 days or more 1,477 - Restructured loans, net 22 - Total nonperforming loans 3,767 977 Real estate owned and other repossessed assets, net 107 525 Total nonperforming assets $ 3,874 $ 1,502 Total nonperforming assets as a percentage of total assets 0.45 % 0.21 % Allowance for loan losses $ 6,600 $ 5,750 Percent of allowance for loan losses to nonperforming loans 175.21 % 588.54 % Percent of allowance for loan losses to nonperforming assets 170.37 % 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, January 1, 2018 $ 1,301 $ 2,778 $ 506 $ 225 $ 940 $ 5,750 Charge-offs - (13 ) (80 ) (72 ) (24 ) (189 ) Recoveries - 19 1 27 12 59 Provision - 809 50 10 111 980 Ending balance, December 31, 2018 $ 1,301 $ 3,593 $ 477 $ 190 $ 1,039 $ 6,600 Ending balance, December 31, 2018 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, December 31, 2018 allocated to loans collectively evaluated for impairment $ 1,301 $ 3,593 $ 477 $ 190 $ 1,039 $ 6,600 Loans receivable: Ending balance, December 31, 2018 $ 144,107 $ 328,438 $ 52,159 $ 16,565 $ 76,762 $ 618,031 Ending balance, December 31, 2018 of loans individually evaluated for impairment $ 887 $ 445 $ 491 $ 127 $ 340 $ 2,290 Ending balance, December 31, 2018 of loans collectively evaluated for impairment $ 143,220 $ 327,993 $ 51,668 $ 16,438 $ 76,422 $ 615,741 Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, January 1, 2017 $ 1,241 $ 2,079 $ 460 $ 193 $ 797 $ 4,770 Charge-offs - - - (193 ) (118 ) (311 ) Recoveries - - 40 20 3 63 Provision 60 699 6 205 258 1,228 Ending balance, December 31, 2017 $ 1,301 $ 2,778 $ 506 $ 225 $ 940 $ 5,750 Ending balance, December 31, 2017 allocated to loans individually evaluated for impairment $ - $ - $ - $ 27 $ 22 $ 49 Ending balance, December 31, 2017 allocated to loans collectively evaluated for impairment $ 1,301 $ 2,778 $ 506 $ 198 $ 918 $ 5,701 Loans receivable: Ending balance, December 31, 2017 $ 135,217 $ 244,783 $ 52,672 $ 15,712 $ 65,863 $ 514,247 Ending balance, December 31, 2017 of loans individually evaluated for impairment $ 475 $ - $ 242 $ 153 $ 107 $ 977 Ending balance, December 31, 2017 of loans collectively evaluated for impairment $ 134,742 $ 244,783 $ 52,430 $ 15,559 $ 65,756 $ 513,270 |
Financing Receivable Credit Quality Indicators [Table Text Block] | December 31, 2018 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 116,065 $ - $ 874 $ - $ - $ 116,939 Residential 1-4 family construction 26,533 - 635 - - 27,168 Commercial real estate 252,731 1,731 2,322 - - 256,784 Commercial construction and development 41,726 - 13 - - 41,739 Farmland 29,915 - - - - 29,915 Other loans: Home equity 51,668 - 491 - - 52,159 Consumer 16,394 - 171 - - 16,565 Commercial 57,778 950 244 81 - 59,053 Agricultural 17,305 - 404 - - 17,709 Total $ 610,115 $ 2,681 $ 5,154 $ 81 $ - $ 618,031 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 December 31, 2018 Restructured Performing Loans Nonperforming Total (In Thousands) Real estate loans: Residential 1-4 family $ 116,556 $ - $ 383 $ 116,939 Residential 1-4 family construction 26,534 - 634 27,168 Commercial real estate 255,005 - 1,779 256,784 Commercial construction and development 41,726 - 13 41,739 Farmland 29,915 - - 29,915 Other loans: Home equity 51,668 22 469 52,159 Consumer 16,438 - 127 16,565 Commercial 58,745 - 308 59,053 Agricultural 17,677 - 32 17,709 Total $ 614,264 $ 22 $ 3,745 $ 618,031 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] | December 31, 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 $ 381 $ 130 $ 511 $ 253 $ 116,175 $ 116,939 Residential 1-4 family construction 118 - 118 634 26,416 27,168 Commercial real estate 975 1,347 2,322 432 254,030 256,784 Commercial construction and development 9 - 9 13 41,717 41,739 Farmland - - - - 29,915 29,915 Other loans: Home equity 39 - 39 491 51,629 52,159 Consumer 135 - 135 127 16,303 16,565 Commercial 284 - 284 308 58,461 59,053 Agricultural 91 - 91 32 17,586 17,709 Total $ 2,032 $ 1,477 $ 3,509 $ 2,290 $ 612,232 $ 618,031 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] | December 31, 2018 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (In Thousands) With no related allowance: Real estate loans: Residential 1-4 family $ 253 $ 277 $ - $ 364 Residential 1-4 family construction 634 684 - 317 Commercial real estate 432 527 - 216 Commercial construction and development 13 26 - 6 Farmland - - - - Other loans: Home equity 491 522 - 367 Consumer 127 181 - 126 Commercial 308 310 - 197 Agricultural 32 32 - 16 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 - - - 14 Commercial - - - 11 Agricultural - - - - Total: Real estate loans: Residential 1-4 family 253 277 - 364 Residential 1-4 family construction 634 684 - 317 Commercial real estate 432 527 - 216 Commercial construction and development 13 26 - 6 Farmland - - - - Other loans: Home equity 491 522 - 367 Consumer 127 181 - 140 Commercial 308 310 - 208 Agricultural 32 32 - 16 Total $ 2,290 $ 2,559 $ - $ 1,634 December 31, 2017 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (In Thousands) With no related allowance: First mortgage loans: Residential 1-4 family $ 475 $ 487 $ - $ 348 Residential 1-4 family construction - - - - Commercial real estate - - - - Commercial construction and development - - - - Farmland - - - - Other loans: Home equity 242 263 - 291 Consumer 126 176 - 107 Commercial 85 87 - 42 Agricultural - - - - With a related allowance: First mortgage 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 18 Commercial 22 22 22 11 Agricultural - - - - Total: First mortgage loans: Residential 1-4 family 475 487 - 348 Residential 1-4 family construction - - - - Commercial real estate - - - - Commercial construction and development - - - - Farmland - - - - Other loans: Home equity 242 263 - 291 Consumer 153 203 27 125 Commercial 107 109 22 53 Agricultural - - - - Total $ 977 $ 1,062 $ 49 $ 817 |
Directors, Senior Officers and their Related Parties [Member] | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In Thousands) Balance at January 1, 2017 $ 2,414 Principal additions 1,337 Principal payments (614 ) Balance at December 31, 2017 $ 3,137 Principal additions 853 Principal payments (864 ) Balance at December 31, 2018 $ 3,126 December 31, 2018 2017 (In Thousands) Loans serviced, for the benefit of others, for directors, senior officers and their related parties $ 1,797 $ 1,652 Years Ended December 31, 2018 2017 (In Thousands) Interest income from loans owned for directors, senior officers and their related parties $ 58 $ 58 |
Note 7 - Foreclosed Assets (Tab
Note 7 - Foreclosed Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Real Estate Acquired Through Foreclosure Activities [Table Text Block] | December 31, 2018 2017 (In Thousands) Commercial real estate $ 107 $ 483 Consumer - 17 Commercial - 25 Total foreclosed assets $ 107 $ 525 |
Schedule of Expenses Related to Foreclosed Assets [Table Text Block] | Years Ended December 31, 2018 2017 (In Thousands) Write-down on real estate owned and other repossessed assets $ (28 ) $ (45 ) Net loss on sale (54 ) (29 ) Operating expenses net of rental income (55 ) (62 ) Expenses related to foreclosed assets, net $ (137 ) $ (136 ) |
Note 8 - Mortgage Servicing R_2
Note 8 - Mortgage Servicing Rights (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Activities in Mortgage Servicing Rights [Table Text Block] | Years Ended December 31, 2018 2017 (In Thousands) Mortgage servicing rights: Beginning balance $ 6,578 $ 5,853 Mortgage servicing rights capitalized 1,725 1,811 Amortization of mortgage servicing rights (1,203 ) (1,086 ) Ending balance 7,100 6,578 Valuation allowance: Beginning balance - - Provision (credited) to operations - - Ending balance - - Mortgage servicing rights, net $ 7,100 $ 6,578 |
Note 9 - Premises and Equipme_2
Note 9 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2018 2017 (In Thousands) Land $ 7,257 $ 4,086 Buildings and improvements 26,011 21,674 Furniture and equipment 8,428 6,940 Construction in progress 1,787 2,140 43,483 34,840 Accumulated depreciation (14,140 ) (12,882 ) Premises and equipment, net $ 29,343 $ 21,958 |
Note 10 - Goodwill and Other _2
Note 10 - Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | December 31, 2018 2017 (In Thousands) Goodwill $ 12,124 $ 7,034 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2018 2017 (In Thousands) Core deposit intangible $ 2,640 $ 1,031 Accumulated amortization (1,142 ) (758 ) Core deposit intangible, net $ 1,498 $ 273 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Years ended December 31: (In Thousands) 2019 $ 337 2020 289 2021 241 2022 193 2023 146 Thereafter 292 Total $ 1,498 |
Note 11 - Deposits (Tables)
Note 11 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | December 31, 2018 2017 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in Thousands) Noninterest checking $ 142,788 0.00 % $ 99,799 0.00 % Interest bearing checking 105,115 0.03 % 99,255 0.03 % Savings 108,234 0.05 % 88,603 0.05 % Money market 108,050 0.30 % 89,558 0.17 % Time certificates of deposits 162,424 1.31 % 143,349 0.96 % Total $ 626,611 0.41 % $ 520,564 0.31 % |
Schedule of Maturities of Time Deposits [Table Text Block] | (In Thousands) Within one year $ 93,536 One to two years 58,761 Two to three years 5,294 Three to four years 3,683 Thereafter 1,150 Total $ 162,424 |
Schedule of Interest Expense on Deposits [Table Text Block] | Years Ended December 31, 2018 2017 (In Thousands) Checking $ 36 $ 31 Savings 53 43 Money market 229 131 Time certificates of deposits 1,738 1,348 Total $ 2,056 $ 1,553 |
Note 12 - Advances From the F_2
Note 12 - Advances From the Federal Home Loan Bank and Other Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Advances from Federal Home Loan Bank and Other Borrowings Maturities [Table Text Block] | (In Thousands) Within one year $ 90,497 One to two years 7,280 Two to three years 4,445 Three to four years - Four to five years - Thereafter - Total $ 102,222 |
Note 13 - Other Long-term Debt
Note 13 - Other Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | December 31, 2018 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 $ (136 ) $ 10,000 $ (180 ) Subordinated debentures fixed at 6.75%, due 2025 10,000 (143 ) 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 $ (279 ) $ 25,155 $ (344 ) |
Note 14 - Commitments and Con_2
Note 14 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years ended December 31: (In Thousands) 2019 $ 550 2020 470 2021 343 2022 212 2023 218 Thereafter 1,015 Total $ 2,808 |
Note 15 - Accumulated Other C_2
Note 15 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Unrealized Gains (Losses) (Losses) Gains on Derivatives on Investment Designated as Securities Cash Flow Hedges Available for Sale Total (In Thousands) Balance, January 1, 2017 $ 330 $ (741 ) $ (411 ) Other comprehensive income, before reclassifications and income taxes 1,687 1,397 3,084 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (1,920 ) (37 ) (1,957 ) Income tax benefit (expense) 137 (540 ) (403 ) Total other comprehensive (loss) income (96 ) 820 724 Balance, December 31, 2017 $ 234 $ 79 $ 313 Other comprehensive income (loss), before reclassifications and income taxes 1,207 (2,113 ) (906 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (1,223 ) 187 (1,036 ) Income tax benefit 9 509 518 Total other comprehensive loss (7 ) (1,417 ) (1,424 ) Balance, December 31, 2018 $ 227 $ (1,338 ) $ (1,111 ) |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended December 31, 2018 2017 (In Thousands) Current U.S. federal $ (123 ) $ 1,509 Montana 349 417 Total current income tax expense 226 1,926 Deferred U.S. federal 609 198 Montana 79 4 Total deferred income tax expense 688 202 Total income tax expense $ 914 $ 2,128 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2018 2017 (In Thousands) Deferred tax assets: Loans receivable $ 1,738 $ 1,596 Deferred loan fees 314 334 Deferred compensation 630 583 Employee benefits 268 319 Unrealized losses on securities available-for-sale 479 - Acquisition costs 306 358 Acquisition fair value adjustments 346 - New Market Tax Credits carry forward 459 626 Alternative Minimum Tax carry forward 233 466 Other 364 272 Total deferred tax assets 5,137 4,554 Deferred tax liabilities: Premises and equipment 796 715 Federal Home Loan Bank stock 26 138 Mortgage servicing rights 1,680 1,318 Unrealized gains on securities available-for-sale - 30 Unrealized gains on hedging 82 91 Goodwill 748 659 Intangibles 347 - Other 268 243 Total deferred tax liabilities 3,947 3,194 Net deferred tax asset $ 1,190 $ 1,360 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended December 31, 2018 2017 % of % of Pretax Pretax Amount Income Amount Income (Dollars in Thousands) Federal income taxes at the statutory rate $ 1,238 21.00 % $ 2,119 34.00 % State income taxes 398 6.75 % 421 6.75 % Tax-exempt interest income (365 ) -6.19 % (466 ) -7.48 % Income from bank-owned life insurance (128 ) -2.17 % (170 ) -2.73 % New Market Tax Credits (456 ) -7.73 % (456 ) -7.32 % Impact due to tax rate change - 0.00 % 715 11.47 % Other, net 227 3.84 % (35 ) -0.54 % Actual tax expense and effective tax rate $ 914 15.50 % $ 2,128 34.15 % |
Note 17 - Supplemental Cash F_2
Note 17 - Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Years Ended December 31, 2018 2017 (In Thousands) Supplemental cash flow information: Cash paid during the year for interest $ 4,824 $ 3,831 Cash paid during the year for income taxes 395 1,605 Non-cash investing and financing activities: (Decrease) increase in market value of securities available-for-sale $ (1,926 ) $ 1,360 Mortgage servicing rights recognized 1,725 1,811 Loans transferred to real estate and other assets acquired in foreclosure 4 66 Stock issued in connection with TwinCo acquisition 9,030 - Treasury shares reissued for compensation 186 145 Employee Stock Ownership Plan shares released 316 319 Supplemental schedule of non-cash investing activities related to acquisitions: Assets acquired: 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 non-cash assets acquired $ 90,392 $ - Liabilities assumed: Deposits $ 82,190 $ - Accrued expenses and other liabilities 19 - Total liabilities assumed $ 82,209 $ - |
Note 18 - Regulatory Capital _2
Note 18 - Regulatory Capital Requirements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Minimum Minimum Required Minimum Required To Be Well for Capital Adequacy for Capital Adequacy Capitalized Under Basel III Basel III Prompt Corrective Actual Phase-In Schedule Fully Phased-In Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) December 31, 2018: Total risk-based capital to risk weighted assets Consolidated $ 104,186 16.449 % $ 62,545 9.875 % $ 66,504 10.500 % $ N/A N/A % Bank 100,131 16.023 61,710 9.875 65,615 10.500 62,491 10.000 Tier I capital to risk weighted assets Consolidated 87,586 13.829 49,878 7.875 53,836 8.500 N/A N/A Bank 93,531 14.967 49,212 7.875 53,117 8.500 49,993 8.000 Common equity tier I capital to risk weighted assets Consolidated 82,586 13.039 40,377 6.375 44,336 7.000 N/A N/A Bank 93,531 14.967 39,838 6.375 43,744 7.000 40,619 6.500 Tier 1 capital to adjusted total average assets Consolidated 87,586 10.507 33,344 4.000 33,344 4.000 N/A N/A Bank 93,531 11.222 33,338 4.000 33,338 4.000 41,673 5.000 Minimum Minimum Required Minimum Required To Be Well for Capital Adequacy for Capital Adequacy Capitalized Under Basel III Basel III Prompt Corrective Actual Phase-In Schedule Fully Phased-In Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) December 31, 2017: Total risk-based capital to risk weighted assets Consolidated $ 96,602 18.27 % $ 48,902 9.25 % $ 55,510 10.50 % $ N/A N/A % Bank 90,340 17.41 47,999 9.25 51,891 10.50 51,891 10.00 Tier I capital to risk weighted assets Consolidated 80,852 15.29 38,328 7.25 44,937 8.50 N/A N/A Bank 84,590 16.30 37,621 7.25 44,107 8.50 41,513 8.00 Common equity tier I capital to risk weighted assets Consolidated 75,852 14.35 30,398 5.75 37,007 7.00 N/A N/A Bank 84,590 16.30 29,837 5.75 36,324 7.00 33,729 6.50 Tier 1 capital to adjusted total average assets Consolidated 80,852 11.51 28,089 4.00 28,089 4.00 N/A N/A Bank 84,590 12.17 27,792 4.00 27,792 4.00 34,739 5.00 |
Computation of Net Capital under Securities and Exchange Commission Regulation [Table Text Block] | December 31, 2018 2017 (In Thousands) Capital determined by GAAP $ 105,965 $ 92,429 Unrealized loss (gain) on securities available-for-sale 1,126 (153 ) Unrealized gain on forward delivery commitments (227 ) (234 ) Goodwill and core deposit intangibles, net of associated deferred tax liabilities (12,641 ) (6,595 ) Disallowed deferred tax assets (692 ) (857 ) Tier I capital 93,531 84,590 Allowance for loan losses 6,600 5,750 Total risk-based capital $ 100,131 $ 90,340 |
Note 20 - Employee Benefits (Ta
Note 20 - Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Share-based Compensation, Activity [Table Text Block] | Number of Shares Unvested awards as of January 1, 2017 64,268 Awards granted 30,700 Awards vested (13,228 ) Awards forfeited (17,280 ) Unvested awards as of December 31, 2017 64,460 Awards granted 12,900 Awards vested (17,200 ) Awards forfeited - Unvested awards as of December 31, 2018 60,160 |
Note 23 - Fair Value Disclosu_2
Note 23 - Fair Value Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | December 31, 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 $ - $ 9,347 $ - $ 9,347 Municipal obligations - 68,278 - 68,278 Corporate obligations - 11,119 - 11,119 Mortgage-backed securities - 19,348 - 19,348 Collateralized mortgage obligations - 23,875 - 23,875 Asset-backed securities - 10,198 - 10,198 Loans held-for-sale - 7,318 - 7,318 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] | December 31, 2018 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 2,290 $ 2,290 Repossessed assets - - 107 107 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 December 31, Valuation Unobservable Signficant Input Instrument 2018 2017 Technique Inputs Values (Dollars In Thousands) Impaired loans $ 2,290 $ 928 Appraisal of collateral (1) Appraisal adjustments 10 - 30% Repossessed assets $ 107 $ 525 Appraisal of collateral (1)(3) Liquidation expenses (2) 10 - 30% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2018 Level 1 Level 2 Level 3 Total Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 11,201 $ - $ - $ 11,201 $ 11,201 Federal Home Loan Bank stock 5,011 - - 5,011 5,011 Federal Reserve Bank stock 2,033 - - 2,033 2,033 Loans receivable, net - - 603,361 603,361 608,043 Accrued interest and dividends receivable 3,479 - - 3,479 3,479 Mortgage servicing rights - - 8,670 8,670 7,100 Cash surrender value of life insurance 20,545 - - 20,545 20,545 Financial liabilities: Non-maturing interest bearing deposits - 321,399 - 321,399 321,399 Noninterest bearing deposits 142,788 - - 142,788 142,788 Time certificates of deposit - - 160,735 160,735 162,424 Accrued expenses and other liabilities 5,388 - - 5,388 5,388 Federal Home Loan Bank advances and other borrowings - - 101,885 101,885 102,222 Other long-term debt - - 24,002 24,002 25,155 Off-balance-sheet instruments Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - December 31, 2017 Level 1 Level 2 Level 3 Total 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 24 - Mergers and Acquisi_2
Note 24 - Mergers and Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 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] | Years Ended December 31, 2018 2017 (Dollars in Thousands, Except Per Share Data) Pro forma net income (1) Net interest income after loan loss provision $ 29,044 $ 26,249 Noninterest income 13,360 14,655 Noninterest expense 36,341 33,328 Income before income taxes 6,063 7,576 Income tax expense 960 2,121 Net income $ 5,103 $ 5,455 Pro forma earnings per share (1) Basic earnings per share $ 0.94 $ 1.34 Diluted earnings per share $ 0.93 $ 1.32 Weighted average shares outstanding, basic 5,426,605 4,074,231 Weighted average shares outstanding, diluted 5,490,347 4,132,590 |
Note 25 - Condensed Parent Co_2
Note 25 - Condensed Parent Company Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, 2018 2017 (In Thousands) Assets: Cash and cash equivalents $ 1,216 $ 878 Securities available-for-sale 10,783 13,114 Investment in Eagle Bancorp Statutory Trust I 155 155 Investment in Opportunity Bank of Montana 105,963 92,429 Other assets 1,813 2,095 Total assets $ 119,930 $ 108,671 Liabilities and Shareholders's Equity: Accounts payable and accrued expenses $ 248 $ 244 Other long-term debt 24,876 24,811 Shareholders' equity 94,806 83,616 Total liabilities and shareholders' equity $ 119,930 $ 108,671 |
Condensed Income Statement [Table Text Block] | Years Ended December 31, 2018 2017 (In Thousands) Interest income $ 292 $ 148 Interest expense (1,432 ) (1,324 ) Noninterest income (20 ) - Noninterest expense (1,712 ) (1,238 ) Loss before income taxes (2,872 ) (2,414 ) Income tax benefit (557 ) (279 ) Loss before equity in undistributed earnings of Opportunity Bank of Montana (2,315 ) (2,135 ) Equity in undistributed earnings of Opportunity Bank of Montana 7,297 6,238 Net income $ 4,982 $ 4,103 |
Condensed Cash Flow Statement [Table Text Block] | Years Ended December 31, 2018 2017 (In Thousands) Cash Flows from Operating Activities: Net income $ 4,982 $ 4,103 Adjustments to reconcile net income to net cash used in operating activities: Equity in undistributed earnings of Opportunity Bank of Montana (7,297 ) (6,238 ) Other adjustments, net 480 311 Net cash used in operating activities (1,835 ) (1,824 ) Cash Flows from Investing Activities: Cash contributions from Opportunity Bank of Montana 11,400 2,000 Cash distributions to Opportunity Bank of Montana - (19,800 ) Cash paid for TwinCo acquisition, net of cash received (9,895 ) - Activity in available-for-sale securities: Sales 1,465 - Maturities, principal payments and calls 607 957 Purchases - (10,439 ) Net cash provided by (used in) investing activities 3,577 (27,282 ) Cash Flows from Financing Activities: Employee Stock Ownership Plan payments and dividends 310 236 Proceeds from issuance of long-term debt - 10,000 Payments for debt issuance costs - (219 ) Proceeds from issuance of common stock - 20,157 Treasury shares reissued for compensation 281 261 Dividends paid (1,995 ) (1,404 ) Net cash (used in) provided by financing activities (1,404 ) 29,031 Net Increase (Decrease) in Cash and Cash Equivalents 338 (75 ) Cash and Cash Equivalents, beginning of period 878 953 Cash and Cash Equivalents, end of period $ 1,216 $ 878 |
Note 26 - Quarterly Results o_2
Note 26 - Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Year Ended December 31, 2018 First Second Third Fourth Quarter Quarter Quarter Quarter (Dollars in Thousands, Except Per Share Data) Interest and dividend income $ 7,957 $ 8,976 $ 8,825 $ 9,085 Interest expense 1,110 1,166 1,348 1,478 Net interest income 6,847 7,810 7,477 7,607 Loan loss provision 502 24 194 260 Net interest income after loan loss provision 6,345 7,786 7,283 7,347 Noninterest income 2,679 3,084 3,761 3,801 Noninterest expense 8,324 9,244 9,052 9,570 Income before income tax expense 700 1,626 1,992 1,578 Income tax expense 127 293 360 134 Net income $ 573 $ 1,333 $ 1,632 $ 1,444 Other comprehensive (loss) income $ (1,864 ) $ (68 ) $ (1,018 ) $ 1,526 Basic earnings per common share $ 0.11 $ 0.24 $ 0.30 $ 0.27 Diluted earnings per common share $ 0.11 $ 0.24 $ 0.30 $ 0.26 Year Ended December 31, 2017 First Second Third Fourth Quarter Quarter Quarter Quarter (Dollars in Thousands, Except Per Share Data) Interest and dividend income $ 6,340 $ 6,925 $ 7,224 $ 7,371 Interest expense 857 1,045 1,065 1,127 Net interest income 5,483 5,880 6,159 6,244 Loan loss provision 301 302 331 294 Net interest income after loan loss provision 5,182 5,578 5,828 5,950 Noninterest income 3,208 3,570 3,988 3,565 Noninterest expense 7,439 7,620 7,557 8,022 Income before income tax expense 951 1,528 2,259 1,493 Income tax expense 188 462 538 940 Net income $ 763 $ 1,066 $ 1,721 $ 553 Other comprehensive income (loss) $ 37 $ 1,247 $ (227 ) $ (333 ) Basic earnings per common share $ 0.20 $ 0.28 $ 0.45 $ 0.11 Diluted earnings per common share $ 0.20 $ 0.27 $ 0.45 $ 0.11 |
Note 1 - Organization and Ope_2
Note 1 - Organization and Operations (Details Textual) - USD ($) | Oct. 13, 2017 | Apr. 05, 2010 | Dec. 31, 2018 | Dec. 31, 2017 |
Stock Issued During Period, Shares, New Issues | 1,189,041 | 2,464,274 | ||
Share Price | $ 10 | |||
Proceeds from Issuance Initial Public Offering | $ 24,643,000 | |||
Shares of Common Stock Received by Existing Stockholders for Each Share of Common Stock Owned Immediately Prior to Completion of The Transaction | 3.8 | |||
Employee Stock Ownership Plan ESOP Percent of Shares Authorized to be Purchased | 8.00% | |||
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 197,142 | |||
Stock Issued During Period, Value, Employee Stock Ownership Plan | $ 1,971,000 | |||
Proceeds from Issuance of Common Stock | $ 20,157,000 | $ 20,157,000 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | Jul. 20, 2017 | Jul. 21, 2016 | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2013 | Dec. 31, 2017 | Jul. 19, 2018 | Mar. 31, 2018 | Jan. 31, 2018 | Dec. 31, 2012 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | $ 55,057,000 | $ 55,057,000 | |||||||||||
Cash, FDIC Insured Amount | 0 | 0 | 0 | 0 | |||||||||
Cash Reserve Deposit Required and Made | $ 1,036,000 | $ 1,036,000 | 880,000 | 880,000 | |||||||||
Investment in Federal Home Loan Bank Stock, Par Value Per Share | $ 100 | $ 100 | |||||||||||
Investment in Federal Reserve Bank Stock, Par Value Per Share | 100 | 100 | |||||||||||
Investment in Federal Reserve Bank Stock, Purchase Price Per Share | $ 50 | $ 50 | |||||||||||
Percentage of Dividend Rate | 6.00% | ||||||||||||
Adjustment to Fair Value of Life Insurance | $ 0 | 0 | |||||||||||
Income Tax Examination, Penalties and Interest Expense, Total | 0 | 0 | |||||||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||
Treasury Stock, Shares, Ending Balance | 241,290 | 241,290 | 258,490 | 258,490 | |||||||||
Advertising Expense | $ 1,158,000 | $ 966,000 | |||||||||||
Goodwill, Ending Balance | $ 12,124,000 | $ 12,124,000 | $ 7,034,000 | $ 7,034,000 | |||||||||
Goodwill, Impairment Loss | $ 0 | ||||||||||||
Common Stock Repurchase Plan Announced on July 19, 2018 [Member] | |||||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100,000 | ||||||||||||
Treasury Stock, Shares, Acquired | 0 | 0 | |||||||||||
Common Stock Repurchase Plan Announced on July 19, 2018 [Member] | Scenario, Forecast [Member] | |||||||||||||
Treasury Stock, Shares, Acquired | 36,000 | ||||||||||||
Treasury Stock Acquired, Average Cost Per Share | $ 17.49 | ||||||||||||
Common Stock Repurchase Plan Announced on July 20, 2017 [Member] | |||||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100,000 | ||||||||||||
Treasury Stock, Shares, Acquired | 0 | ||||||||||||
Common Stock Repurchase Plan Announced on July 21, 2016 [Member] | |||||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100,000 | ||||||||||||
Treasury Stock, Shares, Acquired | 0 | ||||||||||||
Minimum [Member] | |||||||||||||
Property, Plant and Equipment, Useful Life | 3 years | ||||||||||||
Maximum [Member] | |||||||||||||
Property, Plant and Equipment, Useful Life | 40 years | ||||||||||||
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||||||||||||
Loan to Appraised Value Percentage | 80.00% | ||||||||||||
Federal Home Loan Bank Advances [Member] | |||||||||||||
Shares, Outstanding, Ending Balance | 50,114 | 50,114 | |||||||||||
Federal Reserve Bank Advances [Member] | |||||||||||||
Shares, Outstanding, Ending Balance | 40,650 | 40,650 | 29,295 | 29,295 | |||||||||
TwinCo Acquisition [Member] | |||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | $ 55,000,000 | $ 55,057,000 | |||||||||||
Goodwill, Ending Balance | $ 5,090,000 | $ 5,090,000 | |||||||||||
TwinCo Acquisition [Member] | Core Deposits [Member] | |||||||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period | 10 years | ||||||||||||
Sterling [Member] | |||||||||||||
Shares, Outstanding, Ending Balance | 40,861 | 40,861 | |||||||||||
Goodwill, Ending Balance | $ 7,034,000 | $ 6,890,000 | |||||||||||
Goodwill, Purchase Accounting Adjustments | $ 144,000 | ||||||||||||
Sterling [Member] | Core Deposits [Member] | |||||||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period | 7 years |
Note 3 - Earnings Per Share (De
Note 3 - Earnings Per Share (Details Textual) - shares | Oct. 13, 2017 | Apr. 05, 2010 |
Stock Issued During Period, Shares, New Issues | 1,189,041 | 2,464,274 |
Common Stock [Member] | ||
Stock Issued During Period, Shares, New Issues | 1,189,041 |
Note 3 - Earnings Per Share - C
Note 3 - Earnings Per Share - Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Weighted average shares outstanding during the period in which basic earnings per share is calculated (in shares) | 5,426,605 | 4,074,231 | ||||||||
Dilutive effect of stock compensation (in shares) | 63,742 | 58,359 | ||||||||
Average outstanding shares on which diluted earnings per share is calculated (in shares) | 5,490,347 | 4,132,590 | ||||||||
Net income | $ 1,444 | $ 1,632 | $ 1,333 | $ 573 | $ 553 | $ 1,721 | $ 1,066 | $ 763 | $ 4,982 | $ 4,103 |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 0.27 | $ 0.30 | $ 0.24 | $ 0.11 | $ 0.11 | $ 0.45 | $ 0.28 | $ 0.20 | $ 0.92 | $ 1.01 |
DILUTED EARNINGS PER SHARE (in dollars per share) | $ 0.26 | $ 0.30 | $ 0.24 | $ 0.11 | $ 0.11 | $ 0.45 | $ 0.27 | $ 0.20 | $ 0.91 | $ 0.99 |
Note 4 - Investment Securitie_2
Note 4 - Investment Securities (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Pledged Financial Instruments, Not Separately Reported, Securities, Total | $ 21,408,000 | $ 8,415,000 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 108 | 87 |
US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 74 | 52 |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 1.88% | 1.28% |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 11 | 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 | 19 | 20 |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 2.54% | 1.71% |
Expected Credit Loss on Securities | $ 0 | |
Asset-backed Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 4 | |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 1.89% | |
Expected Credit Loss on Securities | $ 0 |
Note 4 - Investment Securitie_3
Note 4 - Investment Securities - Summary of Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Securities available-for-sale, amortized cost | $ 143,982 | $ 131,935 |
Securities available-for-sale, gross unrealized gains | 408 | 1,209 |
Securities available-for-sale, gross unrealized losses | (2,225) | (1,100) |
Securities available-for-sale | 142,165 | 132,044 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 9,333 | 4,881 |
Securities available-for-sale, gross unrealized gains | 58 | 13 |
Securities available-for-sale, gross unrealized losses | (44) | (37) |
Securities available-for-sale | 9,347 | 4,857 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 69,024 | 67,508 |
Securities available-for-sale, gross unrealized gains | 244 | 807 |
Securities available-for-sale, gross unrealized losses | (990) | (429) |
Securities available-for-sale | 68,278 | 67,886 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 11,411 | 14,725 |
Securities available-for-sale, gross unrealized gains | 8 | 18 |
Securities available-for-sale, gross unrealized losses | (300) | (99) |
Securities available-for-sale | 11,119 | 14,644 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale, amortized cost | 19,635 | 24,770 |
Securities available-for-sale, gross unrealized gains | 86 | 364 |
Securities available-for-sale, gross unrealized losses | (373) | (265) |
Securities available-for-sale | 19,348 | 24,869 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale, amortized cost | 24,229 | 20,051 |
Securities available-for-sale, gross unrealized gains | 6 | 7 |
Securities available-for-sale, gross unrealized losses | (360) | (270) |
Securities available-for-sale | 23,875 | 19,788 |
Asset-backed Securities [Member] | ||
Securities available-for-sale, amortized cost | 10,350 | |
Securities available-for-sale, gross unrealized gains | 6 | |
Securities available-for-sale, gross unrealized losses | (158) | |
Securities available-for-sale | $ 10,198 |
Note 4 - Investment Securitie_4
Note 4 - Investment Securities - Proceeds From Sale of Available-for-sale Securities and the Associated Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Proceeds from sale of available-for-sale securities | $ 51,319 | $ 10,585 |
Gross realized gain on sale of available-for-sale securities | 191 | 77 |
Gross realized loss on sale of available-for-sale securities | (378) | (40) |
Net realized (loss) gain on sale of available-for-sale securities | $ (187) | $ 37 |
Note 4 - Investment Securitie_5
Note 4 - Investment Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Available for sale securities, due in one year or less, amortized cost | ||
Available for sale securities, due in one year or less, fair value | ||
Available for sale securities, due from one to five years, amortized cost | 15,337 | |
Available for sale securities, due from one to five years, fair value | 15,033 | |
Available for sale securities, due from five to ten years, amortized cost | 12,084 | |
Available for sale securities, due from five to ten years, fair value | 12,039 | |
Available for sale securities, due after ten years, amortized cost | 72,697 | |
Available for sale securities, due after ten years, fair value | 71,870 | |
Total available for sale securities debt maturities, amortized cost | 100,118 | |
Total available for sale securities, debt maturities, fair value | 98,942 | |
Securities available-for-sale, amortized cost | 143,982 | $ 131,935 |
Securities available-for-sale | 142,165 | 132,044 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale securities, without single maturity, amortized cost | 19,635 | |
Available for sale securities, without single maturity, fair value | 19,348 | |
Securities available-for-sale, amortized cost | 19,635 | 24,770 |
Securities available-for-sale | 19,348 | 24,869 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale securities, without single maturity, amortized cost | 24,229 | |
Available for sale securities, without single maturity, fair value | 23,875 | |
Securities available-for-sale, amortized cost | 24,229 | 20,051 |
Securities available-for-sale | $ 23,875 | $ 19,788 |
Note 4 - Investment Securitie_6
Note 4 - Investment Securities - Investment Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | $ 34,552 | $ 34,647 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (506) | (253) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 65,876 | 43,672 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (1,719) | (847) |
US Government Corporations and Agencies Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 2,493 | |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (14) | |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 3,385 | 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 | 17,887 | 15,404 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (140) | (87) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 32,712 | 16,675 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (850) | (342) |
Corporate Debt Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 2,890 | 7,643 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (110) | (71) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 7,220 | 3,981 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (190) | (28) |
Mortgage-backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 5,575 | 9,107 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (98) | (81) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 22,559 | 21,653 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (635) | (454) |
Asset-backed Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 8,200 | |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (158) | |
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 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable, Gross, Total | $ 618,031,000 | $ 514,247,000 | |
Minimum Principal Balance of Loans for Quarterly Rating Review | 750,000 | ||
Interest Received on Past Due Loans, Applied to Principal | 211,000 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 6,600,000 | 5,750,000 | $ 4,770,000 |
Impaired Financing Receivable, Recorded Investment, Total | 2,290,000 | 977,000 | |
Impaired Financing Receivable, Net Investment | 2,290,000 | 928,000 | |
Impaired Financing Receivable, Related Allowance | 49,000 | ||
Non-Accrual Status [Member] | |||
Loans and Leases Receivable, Allowance, Ending Balance | 0 | 49,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 328,438,000 | 244,783,000 | |
Loans and Leases Receivable, Allowance, Ending Balance | 3,593,000 | 2,778,000 | 2,079,000 |
Commercial Real Estate Portfolio Segment [Member] | United States Department of Agriculture Rural Development [Member] | |||
Loans and Leases Receivable, Gross, Total | 12,476,000 | 13,114,000 | |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 2,575,000 | ||
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 76,762,000 | 65,863,000 | |
Loans and Leases Receivable, Allowance, Ending Balance | 1,039,000 | 940,000 | 797,000 |
Impaired Financing Receivable, Recorded Investment, Total | $ 308,000 | 107,000 | |
Impaired Financing Receivable, Related Allowance | 22,000 | ||
Commercial Portfolio Segment [Member] | Minimum [Member] | |||
Quarterly Review Criteria, Period of Delinquency on Loans | 60 days | ||
Commercial Portfolio Segment [Member] | United States Department of Agriculture Rural Development [Member] | |||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 1,303,000 | ||
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 16,565,000 | 15,712,000 | |
Loans and Leases Receivable, Allowance, Ending Balance | 190,000 | 225,000 | $ 193,000 |
Impaired Financing Receivable, Recorded Investment, Total | $ 127,000 | 153,000 | |
Impaired Financing Receivable, Related Allowance | $ 27,000 | ||
Consumer Portfolio Segment [Member] | Minimum [Member] | |||
Quarterly Review Criteria, Period of Delinquency on Loans | 90 days |
Note 5 - Loans - Summary of Loa
Note 5 - Loans - Summary of Loans Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Loans receivable | $ 618,031 | $ 514,247 | |
Deferred loan fees, net | (1,098) | (1,093) | |
Allowance for loan losses | (6,600) | (5,750) | $ (4,770) |
Total loans, net | 610,333 | 507,404 | |
Residential Portfolio Segment [Member] | |||
Loans receivable | 144,107 | 135,217 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 328,438 | 244,783 | |
Allowance for loan losses | (3,593) | (2,778) | (2,079) |
Home Equity Portfolio Segment [Member] | |||
Loans receivable | 52,159 | 52,672 | |
Allowance for loan losses | (477) | (506) | (460) |
Consumer Portfolio Segment [Member] | |||
Loans receivable | 16,565 | 15,712 | |
Allowance for loan losses | (190) | (225) | (193) |
Commercial Portfolio Segment [Member] | |||
Loans receivable | 76,762 | 65,863 | |
Allowance for loan losses | $ (1,039) | $ (940) | $ (797) |
Note 5 - Loans - Nonperforming
Note 5 - Loans - Nonperforming Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Non-accrual loans | $ 2,268 | $ 977 | |
Accruing loans delinquent 90 days or more | 1,477 | 0 | |
Restructured loans, net | 22 | 0 | |
Total nonperforming loans | 3,767 | 977 | |
Real estate and other repossessed assets acquired in settlement of loans, net | 107 | 525 | |
Total nonperforming assets | $ 3,874 | $ 1,502 | |
Total nonperforming assets as a percentage of total assets | 0.45% | 0.21% | |
Allowance for loan losses | $ 6,600 | $ 5,750 | $ 4,770 |
Percent of allowance for loan losses to nonperforming loans | 175.21% | 588.54% | |
Percent of allowance for loan losses to nonperforming assets | 170.37% | 382.82% |
Note 5 - Loans - Allowance for
Note 5 - Loans - Allowance for Loan Losses Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Allowance for loan losses, beginning balance | $ 5,750 | $ 4,770 | $ 5,750 | $ 4,770 | ||||||
Charge-offs | (189) | (311) | ||||||||
Recoveries | 59 | 63 | ||||||||
Loan loss provision | $ 260 | $ 194 | $ 24 | 502 | $ 294 | $ 331 | $ 302 | 301 | 980 | 1,228 |
Allowance for loan losses, ending balance | 6,600 | 5,750 | 6,600 | 5,750 | ||||||
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 49 | 49 | ||||||||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 6,600 | 5,701 | 6,600 | 5,701 | ||||||
Loans receivable, total | 618,031 | 514,247 | 618,031 | 514,247 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 2,290 | 977 | 2,290 | 977 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 615,741 | 513,270 | 615,741 | 513,270 | ||||||
One-to-Four Family Loans [Member] | ||||||||||
Loans receivable, total | 135,217 | 135,217 | ||||||||
Residential Portfolio Segment [Member] | ||||||||||
Loans receivable, total | 144,107 | 135,217 | 144,107 | 135,217 | ||||||
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||||||||||
Allowance for loan losses, beginning balance | 1,301 | 1,241 | 1,301 | 1,241 | ||||||
Charge-offs | 0 | 0 | ||||||||
Recoveries | 0 | 0 | ||||||||
Loan loss provision | 0 | 60 | ||||||||
Allowance for loan losses, ending balance | 1,301 | 1,301 | 1,301 | 1,301 | ||||||
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 | 1,301 | 1,301 | 1,301 | ||||||
Loans receivable, total | 116,939 | 109,911 | 116,939 | 109,911 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 887 | 475 | 887 | 475 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 143,220 | 134,742 | 143,220 | 134,742 | ||||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Allowance for loan losses, beginning balance | 2,778 | 2,079 | 2,778 | 2,079 | ||||||
Charge-offs | (13) | 0 | ||||||||
Recoveries | 19 | 0 | ||||||||
Loan loss provision | 809 | 699 | ||||||||
Allowance for loan losses, ending balance | 3,593 | 2,778 | 3,593 | 2,778 | ||||||
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 | 3,593 | 2,778 | 3,593 | 2,778 | ||||||
Loans receivable, total | 328,438 | 244,783 | 328,438 | 244,783 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 445 | 445 | ||||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 327,993 | 244,783 | 327,993 | 244,783 | ||||||
Home Equity Portfolio Segment [Member] | ||||||||||
Allowance for loan losses, beginning balance | 506 | 460 | 506 | 460 | ||||||
Charge-offs | (80) | 0 | ||||||||
Recoveries | 1 | 40 | ||||||||
Loan loss provision | 50 | 6 | ||||||||
Allowance for loan losses, ending balance | 477 | 506 | 477 | 506 | ||||||
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 | 477 | 506 | 477 | 506 | ||||||
Loans receivable, total | 52,159 | 52,672 | 52,159 | 52,672 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 491 | 242 | 491 | 242 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 51,668 | 52,430 | 51,668 | 52,430 | ||||||
Consumer Portfolio Segment [Member] | ||||||||||
Allowance for loan losses, beginning balance | 225 | 193 | 225 | 193 | ||||||
Charge-offs | (72) | (193) | ||||||||
Recoveries | 27 | 20 | ||||||||
Loan loss provision | 10 | 205 | ||||||||
Allowance for loan losses, ending balance | 190 | 225 | 190 | 225 | ||||||
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 27 | 27 | ||||||||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 190 | 198 | 190 | 198 | ||||||
Loans receivable, total | 16,565 | 15,712 | 16,565 | 15,712 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 127 | 153 | 127 | 153 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | 16,438 | 15,559 | 16,438 | 15,559 | ||||||
Commercial Portfolio Segment [Member] | ||||||||||
Allowance for loan losses, beginning balance | $ 940 | $ 797 | 940 | 797 | ||||||
Charge-offs | (24) | (118) | ||||||||
Recoveries | 12 | 3 | ||||||||
Loan loss provision | 111 | 258 | ||||||||
Allowance for loan losses, ending balance | 1,039 | 940 | 1,039 | 940 | ||||||
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 22 | 0 | 22 | ||||||
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 1,039 | 918 | 1,039 | 918 | ||||||
Loans receivable, total | 76,762 | 65,863 | 76,762 | 65,863 | ||||||
Loans receivable, ending balance, loans individually evaluated for impairment | 340 | 107 | 340 | 107 | ||||||
Loans receivable, ending balance, loans collectively evaluated for impairment | $ 76,422 | $ 65,756 | $ 76,422 | $ 65,756 |
Note 5 - Loans - Internal Class
Note 5 - Loans - Internal Classification of the Loan Portfolio (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Loans receivable | $ 618,031 | $ 514,247 |
Performing Financial Instruments [Member] | ||
Loans receivable | 614,264 | 513,270 |
Restructured Loans [Member] | ||
Loans receivable | 22 | |
Nonperforming Financial Instruments [Member] | ||
Loans receivable | 3,745 | 977 |
One-to-Four Family Loans [Member] | ||
Loans receivable | 135,217 | |
Residential Portfolio Segment [Member] | ||
Loans receivable | 144,107 | 135,217 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Loans receivable | 116,939 | 109,911 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 116,556 | 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 | 383 | 475 |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | ||
Loans receivable | 27,168 | 25,306 |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 26,534 | 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 | 634 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 328,438 | 244,783 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Loans receivable | 256,784 | 194,805 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 255,005 | 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 | 1,779 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 41,739 | 38,351 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 41,726 | 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 | 13 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Loans receivable | 29,915 | 11,627 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 29,915 | 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 | 52,159 | 52,672 |
Home Equity Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 51,668 | 52,430 |
Home Equity Portfolio Segment [Member] | Restructured Loans [Member] | ||
Loans receivable | 22 | |
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans receivable | 469 | 242 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 16,565 | 15,712 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 16,438 | 15,559 |
Consumer Portfolio Segment [Member] | Restructured Loans [Member] | ||
Loans receivable | ||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans receivable | 127 | 153 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 76,762 | 65,863 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans receivable | 59,053 | 63,300 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 58,745 | 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 | 308 | 107 |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | ||
Loans receivable | 17,709 | 2,563 |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Performing Financial Instruments [Member] | ||
Loans receivable | 17,677 | 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 | 32 | |
Pass [Member] | ||
Loans receivable | 610,115 | 512,204 |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Loans receivable | 116,065 | 109,167 |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | ||
Loans receivable | 26,533 | 24,850 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Loans receivable | 252,731 | 194,502 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 41,726 | 38,351 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Loans receivable | 29,915 | 11,627 |
Pass [Member] | Home Equity Portfolio Segment [Member] | ||
Loans receivable | 51,668 | 52,430 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 16,394 | 15,549 |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans receivable | 57,778 | 63,165 |
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | ||
Loans receivable | 17,305 | 2,563 |
Special Mention [Member] | ||
Loans receivable | 2,681 | 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 | 1,731 | 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 | 950 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | ||
Loans receivable | 5,154 | 1,994 |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Loans receivable | 874 | 744 |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | ||
Loans receivable | 635 | 456 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Loans receivable | 2,322 | 303 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 13 | 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 | 491 | 242 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 171 | 136 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans receivable | 244 | 113 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | ||
Loans receivable | 404 | 0 |
Doubtful [Member] | ||
Loans receivable | 81 | 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 | 81 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | ||
Loans receivable | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans receivable | 0 | 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 5 - Loans - Delinquencies
Note 5 - Loans - Delinquencies Within the Loan Portfolio (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Past due | $ 3,509 | $ 2,037 |
Non-accrual Loans | 2,290 | 977 |
Current Loans | 612,232 | 511,233 |
Loans receivable | 618,031 | 514,247 |
Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 2,032 | 2,037 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 1,477 | |
One-to-Four Family Loans [Member] | ||
Loans receivable | 135,217 | |
Residential Portfolio Segment [Member] | ||
Loans receivable | 144,107 | 135,217 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Past due | 511 | 898 |
Non-accrual Loans | 253 | 475 |
Current Loans | 116,175 | 108,538 |
Loans receivable | 116,939 | 109,911 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 381 | 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 | 118 | 409 |
Non-accrual Loans | 634 | |
Current Loans | 26,416 | 24,897 |
Loans receivable | 27,168 | 25,306 |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 118 | 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 | 328,438 | 244,783 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past due | 2,322 | 291 |
Non-accrual Loans | 432 | |
Current Loans | 254,030 | 194,514 |
Loans receivable | 256,784 | 194,805 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 975 | 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 | 1,347 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Past due | 9 | |
Non-accrual Loans | 13 | |
Current Loans | 41,717 | 38,351 |
Loans receivable | 41,739 | 38,351 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 9 | |
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 | 29,915 | 11,627 |
Loans receivable | 29,915 | 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 | 39 | 212 |
Non-accrual Loans | 491 | 242 |
Current Loans | 51,629 | 52,218 |
Loans receivable | 52,159 | 52,672 |
Home Equity Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 39 | 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 | 135 | 111 |
Non-accrual Loans | 127 | 153 |
Current Loans | 16,303 | 15,448 |
Loans receivable | 16,565 | 15,712 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 135 | 111 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | ||
Loans receivable | 76,762 | 65,863 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Past due | 284 | 116 |
Non-accrual Loans | 308 | 107 |
Current Loans | 58,461 | 63,077 |
Loans receivable | 59,053 | 63,300 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 284 | 116 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | ||
Past due | 91 | |
Non-accrual Loans | 32 | |
Current Loans | 17,586 | 2,563 |
Loans receivable | 17,709 | 2,563 |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past due | 91 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due |
Note 5 - Loans - Impaired Loans
Note 5 - Loans - Impaired Loans (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Recorded investment | $ 2,290,000 | $ 977,000 |
Unpaid principal balance | 2,559,000 | 1,062,000 |
Average recorded investment | 1,634,000 | 817,000 |
Related allowance | 49,000 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Recorded investment, with no related allowance | 253,000 | 475,000 |
Unpaid principal balance, with no related allowance | 277,000 | 487,000 |
Average recorded investment, with no related allowance | 364,000 | 348,000 |
Average recorded investment, with related allowance | 364,000 | 348,000 |
Recorded investment | 253,000 | 475,000 |
Unpaid principal balance | 277,000 | 487,000 |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | ||
Recorded investment, with no related allowance | 634,000 | |
Unpaid principal balance, with no related allowance | 684,000 | |
Average recorded investment, with no related allowance | 317,000 | |
Average recorded investment, with related allowance | 317,000 | |
Recorded investment | 634,000 | |
Unpaid principal balance | 684,000 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Recorded investment, with no related allowance | 432,000 | |
Unpaid principal balance, with no related allowance | 527,000 | |
Average recorded investment, with no related allowance | 216,000 | |
Average recorded investment, with related allowance | 216,000 | |
Recorded investment | 432,000 | |
Unpaid principal balance | 527,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Recorded investment, with no related allowance | 13,000 | |
Unpaid principal balance, with no related allowance | 26,000 | |
Average recorded investment, with no related allowance | 6,000 | |
Average recorded investment, with related allowance | 6,000 | |
Recorded investment | 13,000 | |
Unpaid principal balance | 26,000 | |
Home Equity Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 491,000 | 242,000 |
Unpaid principal balance, with no related allowance | 522,000 | 263,000 |
Average recorded investment, with no related allowance | 367,000 | 291,000 |
Recorded investment | 491,000 | 242,000 |
Unpaid principal balance | 522,000 | 263,000 |
Average recorded investment | 367,000 | 291,000 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 127,000 | 126,000 |
Unpaid principal balance, with no related allowance | 181,000 | 176,000 |
Average recorded investment, with no related allowance | 126,000 | 107,000 |
Average recorded investment, with related allowance | 14,000 | 18,000 |
Recorded investment | 127,000 | 153,000 |
Unpaid principal balance | 181,000 | 203,000 |
Average recorded investment | 140,000 | 125,000 |
Recorded investment, with a related allowance | 27,000 | |
Unpaid principal balance, with a related allowance | 27,000 | |
Related allowance | 27,000 | |
Commercial Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 308,000 | 85,000 |
Unpaid principal balance, with no related allowance | 310,000 | 87,000 |
Average recorded investment, with no related allowance | 197,000 | 42,000 |
Average recorded investment, with related allowance | 11,000 | 11,000 |
Recorded investment | 308,000 | 107,000 |
Unpaid principal balance | 310,000 | 109,000 |
Average recorded investment | 208,000 | 53,000 |
Recorded investment, with a related allowance | 22,000 | |
Unpaid principal balance, with a related allowance | 22,000 | |
Related allowance | $ 22,000 | |
Agricultural Loan [Member] | ||
Recorded investment, with no related allowance | 32,000 | |
Unpaid principal balance, with no related allowance | 32,000 | |
Average recorded investment, with no related allowance | 16,000 | |
Recorded investment | 32,000 | |
Unpaid principal balance | 32,000 | |
Average recorded investment | $ 16,000 |
Note 5 - Loans - Loans Receivab
Note 5 - Loans - Loans Receivable from Directors and Senior Officers and their Related Parties (Details) - Directors, Senior Officers and their Related Parties [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Beginning balance | $ 3,137 | $ 2,414 |
Principal additions | 853 | 1,337 |
Principal payments | (864) | (614) |
Ending balance | 3,126 | 3,137 |
Loans serviced, for the benefit of others, for directors, senior officers and their related parties | 1,797 | 1,652 |
Interest income from loans owned for directors, senior officers and their related parties | $ 58 | $ 58 |
Note 6 - Troubled Debt Restru_2
Note 6 - Troubled Debt Restructurings (Details Textual) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2017USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017 | Dec. 31, 2016USD ($) | |
Financing Receivable, Modifications, Number of Contracts | 1 | 0 | 1 | |
Receivables, Change in Method of Calculating Impairment, Recorded Investment | $ 22,000 | $ 43,000 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | $ 34,000 | ||
Financing Receivables Impaired Troubled Debt Restructuring Collection of Payment | $ 42,000 | |||
Financing Receivable, Troubled Debt Restructuring, Recovery | $ 34,000 | |||
Receivables, Change in Method of Calculating Impairment, Recorded Investment, At Time of Restructure | 23,000 | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | |||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 |
Note 7 - Foreclosed Assets - Sc
Note 7 - Foreclosed Assets - Schedule of Foreclosed Assets Net of Allowance for Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Real estate and other repossessed assets acquired in settlement of loans, net | $ 107 | $ 525 |
Commercial Real Estate Portfolio Segment [Member] | ||
Real estate and other repossessed assets acquired in settlement of loans, net | 107 | 483 |
Consumer Portfolio Segment [Member] | ||
Real estate and other repossessed assets acquired in settlement of loans, net | 17 | |
Commercial Portfolio Segment [Member] | ||
Real estate and other repossessed assets acquired in settlement of loans, net | $ 25 |
Note 7 - Foreclosed Assets - _2
Note 7 - Foreclosed Assets - Schedule of Expenses Applicable to Foreclosed Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Write-down on real estate owned and other repossessed assets | $ (28) | $ (45) |
Net loss on sale of real estate owned and other repossessed property | (54) | (29) |
Operating expenses net of rental income | (55) | (62) |
Expenses related to foreclosed assets, net | $ (137) | $ (136) |
Note 8 - Mortgage Servicing R_3
Note 8 - Mortgage Servicing Rights (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Loans Serviced During the Period | $ 964,967,000 | $ 891,647,000 |
Fees and Commissions, Mortgage Banking and Servicing | 2,295,000 | 2,127,000 |
Escrow Deposit | 5,618,000 | 4,598,000 |
Mortgage Servicing Rights Measured at Fair Value | $ 8,700,000 | $ 7,312,000 |
Mortgage Servicing Rights [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 12.00% | |
Mortgage Servicing Rights [Member] | Minimum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 83.00% | |
Mortgage Servicing Rights [Member] | Maximum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 226.00% | |
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% | 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 | 119.00% |
Note 8 - Mortgage Servicing R_4
Note 8 - Mortgage Servicing Rights - Schedule of Activity in Mortgage Servicing Rights and the Valuation Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Beginning balance | $ 6,578 | $ 5,853 |
Mortgage servicing rights recognized | 1,725 | 1,811 |
Amortization of mortgage servicing rights | (1,203) | (1,086) |
Ending balance | 7,100 | 6,578 |
Beginning balance | 0 | 0 |
Provision (credited) to operations | 0 | 0 |
Ending balance | 0 | 0 |
Mortgage servicing rights, net | $ 7,100 | $ 6,578 |
Note 9 - Premises and Equipme_3
Note 9 - Premises and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation, Total | $ 1,282,000 | $ 969,000 |
Note 9 - Premises and Equipme_4
Note 9 - Premises and Equipment - Schedule of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Premises and equipment, gross | $ 43,483 | $ 34,840 |
Accumulated depreciation | (14,140) | (12,882) |
Premises and equipment, net | 29,343 | 21,958 |
Land [Member] | ||
Premises and equipment, gross | 7,257 | 4,086 |
Building and Building Improvements [Member] | ||
Premises and equipment, gross | 26,011 | 21,674 |
Furniture and Fixtures [Member] | ||
Premises and equipment, gross | 8,428 | 6,940 |
Construction in Progress [Member] | ||
Premises and equipment, gross | $ 1,787 | $ 2,140 |
Note 10 - Goodwill and Other _3
Note 10 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Amortization of Intangible Assets, Total | $ 700,000 | $ 426,000 |
Core Deposits [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 10 years | |
Amortization of Intangible Assets, Total | $ 385,000 | $ 111,000 |
Note 10 - Goodwill and Other _4
Note 10 - Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Goodwill | $ 12,124 | $ 7,034 |
Note 10 - Goodwill and Other _5
Note 10 - Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Intangible assets, net | $ 1,498 | $ 273 |
Core Deposits [Member] | ||
Gross intangible assets | 2,640 | 1,031 |
Accumulated amortization | (1,142) | (758) |
Intangible assets, net | $ 1,498 | $ 273 |
Note 10 - Goodwill and Other _6
Note 10 - Goodwill and Other Intangible Assets - Core Deposit Intangible Assets Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Total | $ 1,498 | $ 273 |
Core Deposits [Member] | ||
2019 | 337 | |
2020 | 289 | |
2021 | 241 | |
2022 | 193 | |
2023 | 146 | |
Thereafter | 292 | |
Total | $ 1,498 | $ 273 |
Note 11 - Deposits (Details Tex
Note 11 - Deposits (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Deposits, Money Market Deposits, Variable Rate Brokered | $ 4,019,000 | $ 1,000,000 |
Time Deposits, Total | 162,424,000 | 143,349,000 |
Time Deposits, at or Above FDIC Insurance Limit | 148,331,000 | 106,391,000 |
Deposit Liabilities Reclassified as Loans Receivable | 70,000 | 51,000 |
Related Party Deposit Liabilities | 8,104,000 | 2,146,000 |
Brokered Deposits [Member] | ||
Time Deposits, Total | 0 | 4,601,000 |
Certificates of Deposit [Member] | ||
Time Deposits, at or Above FDIC Insurance Limit | $ 33,635,000 | $ 26,225,000 |
Note 11 - Deposits - Summary of
Note 11 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Noninterest checking | $ 142,788 | $ 99,799 |
Noninterest checking, weighted average rate | 0.00% | 0.00% |
Interest bearing checking | $ 105,115 | $ 99,255 |
Interest bearing checking, weighted average rate | 0.03% | 0.03% |
Savings | $ 108,234 | $ 88,603 |
Savings, weighted average rate | 0.05% | 0.05% |
Money market | $ 108,050 | $ 89,558 |
Money market, weighted average rate | 0.30% | 0.17% |
Time Deposits, Total | $ 162,424 | $ 143,349 |
Time certificates of deposits, weighted average rate | 1.31% | 0.96% |
Total deposits | $ 626,611 | $ 520,564 |
Weighted average rate | 0.41% | 0.31% |
Note 11 - Deposits - Schedule o
Note 11 - Deposits - Schedule of Maturities of Time Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Within one year | $ 93,536 | |
One to two years | 58,761 | |
Two to three years | 5,294 | |
Three to four years | 3,683 | |
Thereafter | 1,150 | |
Total | $ 162,424 | $ 143,349 |
Note 11 - Deposits - Interest E
Note 11 - Deposits - Interest Expense on Deposits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Checking | $ 36 | $ 31 |
Savings | 53 | 43 |
Money market | 229 | 131 |
Time certificates of deposits | 1,738 | 1,348 |
Total | $ 2,056 | $ 1,553 |
Note 12 - Advances From the F_3
Note 12 - Advances From the Federal Home Loan Bank and Other Borrowings (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Federal Home Loan Bank Advances Funding Available as Percent of Assets | 45.00% | |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $ 373,448,000 | |
Advances from Federal Home Loan Banks, Total | 101,357,000 | $ 82,104,000 |
Contingent Letter of Credit with Federal Home Loan Bank, Amount Available | 620,000 | 405,000 |
Pledged Financial Instruments, Not Separately Reported, Securities for Other Debt Facilities | 0 | 0 |
Federal Reserve Bank Advances | $ 0 | $ 0 |
Debt, Weighted Average Interest Rate | 2.20% | 1.58% |
Short-term Debt, Average Outstanding Amount | $ 87,283,000 | $ 84,195,000 |
Short-term Debt, Maximum Month-end Outstanding Amount | 102,222,000 | 120,804,000 |
PNC Bank [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 7,000,000 | |
Federal Funds Purchased | 0 | 0 |
Zions Bank [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000,000 | |
Federal Funds Purchased | 0 | 0 |
Stockman Bank [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 7,000,000 | |
Federal Funds Purchased | 0 | |
PCBB [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000,000 | |
Federal Funds Purchased | 0 | 0 |
United Bankers' Bank [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 5,000,000 | |
Federal Funds Purchased | 0 | |
New Markets Tax Credit Loan [Member] | ||
Other Borrowings | $ 865,000 | $ 865,000 |
Debt Instrument, Interest Rate During Period | 1.00% | 1.00% |
Note 12 - Advances From the F_4
Note 12 - Advances From the Federal Home Loan Bank and Other Borrowings - Schedule of Maturities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Within one year | $ 90,497 | |
One to two years | 7,280 | |
Two to three years | 4,445 | |
Three to four years | ||
Four to five years | ||
Thereafter | ||
Total | $ 102,222 | $ 82,969 |
Note 13 - Other Long-term Deb_2
Note 13 - Other Long-term Debt (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Feb. 28, 2017 | Jun. 30, 2015 | Dec. 31, 2010 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2005 | |
Debt Instrument, Face Amount | $ 25,155,000 | $ 25,155,000 | ||||
Interest Expense, Long-term Debt, Total | $ 1,432,000 | $ 1,324,000 | ||||
First Tennessee Bank, N.A. [Member] | ||||||
Temporary Equity, Liquidation Preference | $ 5,155,000 | |||||
Trust Preferred Securities, Maximum Dividend Deferring Period | 5 years | |||||
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 | 4.228% | 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% | |||||
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | ||||||
Debt Instrument, Face Amount | $ 10,000,000 | $ 10,000,000 | $ 10,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | 5.75% | 5.75% | |||
Debt Instrument, Maturity Year | 2022 | 2022 | 2022 | |||
6.75% Subordinated Notes Due in 2025 [Member] | ||||||
Debt Instrument, Face Amount | $ 10,000,000 | $ 10,000,000 | $ 10,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | 6.75% | 6.75% | |||
Debt Instrument, Maturity Year | 2025 | 2025 | 2025 | |||
Eagle Bancorp Statutory Trust I [Member] | ||||||
Subordinated Debt, Ending Balance | $ 5,155,000 |
Note 13 - Other Long-term Deb_3
Note 13 - Other Long-term Debt - Summary of Other Long-term Debt (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Feb. 28, 2017 | Jun. 30, 2015 |
Debt Instrument, Face Amount | $ 25,155,000 | $ 25,155,000 | ||
Unamortized debt issuance costs | (279,000) | (344,000) | ||
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | ||||
Debt Instrument, Face Amount | 10,000,000 | 10,000,000 | $ 10,000,000 | |
Unamortized debt issuance costs | (136,000) | (180,000) | ||
6.75% Subordinated Notes Due in 2025 [Member] | ||||
Debt Instrument, Face Amount | 10,000,000 | 10,000,000 | $ 10,000,000 | |
Unamortized debt issuance costs | (143,000) | (164,000) | ||
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | ||||
Debt Instrument, Face Amount | $ 5,155,000 | $ 5,155,000 |
Note 13 - Other Long-term Deb_4
Note 13 - Other Long-term Debt - Summary of Other Long-term Debt (Details) (Parentheticals) | 1 Months Ended | 12 Months Ended | ||
Feb. 28, 2017 | Jun. 30, 2015 | Dec. 31, 2018 | Dec. 31, 2017 | |
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | 5.75% | 5.75% | |
Debt Instrument, Maturity Year | 2022 | 2022 | 2022 | |
6.75% Subordinated Notes Due in 2025 [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | 6.75% | 6.75% | |
Debt Instrument, Maturity Year | 2025 | 2025 | 2025 | |
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | ||||
Debt Instrument, Maturity Year | 2035 | 2035 | ||
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.42% | 1.42% |
Note 14 - Commitments and Con_3
Note 14 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Leases, Rent Expense, Net, Total | $ 484,000 | $ 408,000 |
Note 14 - Commitments and Con_4
Note 14 - Commitments and Contingencies - Schedule of Future Payments of Lease Obligations (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2019 | $ 550 |
2020 | 470 |
2021 | 343 |
2022 | 212 |
2023 | 218 |
Thereafter | 1,015 |
Total | $ 2,808 |
Note 15 - Accumulated Other C_3
Note 15 - Accumulated Other Comprehensive Income (Loss) - Activity in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance | $ 83,616 | $ 59,456 |
Balance | 94,806 | 83,616 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Balance | 234 | 330 |
Other comprehensive income (loss), before reclassifications and income taxes | 1,207 | 1,687 |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (1,223) | (1,920) |
Income tax benefit (expense) | 9 | 137 |
Total other comprehensive (loss) income | (7) | (96) |
Balance | 227 | 234 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||
Balance | 79 | (741) |
Other comprehensive income (loss), before reclassifications and income taxes | (2,113) | 1,397 |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | 187 | (37) |
Income tax benefit (expense) | 509 | (540) |
Total other comprehensive (loss) income | (1,417) | 820 |
Balance | (1,338) | 79 |
AOCI Attributable to Parent [Member] | ||
Balance | 313 | (411) |
Other comprehensive income (loss), before reclassifications and income taxes | (906) | 3,084 |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (1,036) | (1,957) |
Income tax benefit (expense) | 518 | (403) |
Total other comprehensive (loss) income | (1,424) | 724 |
Balance | $ (1,111) | $ 313 |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Dec. 31, 2018 | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 715,000 | |
Tax Credit Carryforward, Amount | $ 2,964,000 | |
Tax Exemption Period | 7 years | |
Investment Tax Credit | $ 2,736,000 | |
Deferred Investment Tax Credit Utilized | 2,277,000 | |
Deferred Tax Assets, Tax Credit Carryforwards, Total | $ 459,000 |
Note 16 - Income Taxes - Schedu
Note 16 - Income Taxes - Schedule of Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current | ||||||||||
U.S. federal | $ (123) | $ 1,509 | ||||||||
Montana | 349 | 417 | ||||||||
Total current income tax expense | 226 | 1,926 | ||||||||
Deferred | ||||||||||
U.S. federal | 609 | 198 | ||||||||
Montana | 79 | 4 | ||||||||
Total deferred income tax expense | 688 | 202 | ||||||||
Total income tax expense | $ 134 | $ 360 | $ 293 | $ 127 | $ 940 | $ 538 | $ 462 | $ 188 | $ 914 | $ 2,128 |
Note 16 - Income Taxes - Net De
Note 16 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets: | ||
Loans receivable | $ 1,738 | $ 1,596 |
Deferred loan fees | 314 | 334 |
Deferred compensation | 630 | 583 |
Employee benefits | 268 | 319 |
Unrealized losses on securities available-for-sale | 479 | |
Acquisition costs | 306 | 358 |
Acquisition fair value adjustments | 346 | |
New Market Tax Credits carry forward | 459 | 626 |
Alternative Minimum Tax carry forward | 233 | 466 |
Other | 364 | 272 |
Total deferred tax assets | 5,137 | 4,554 |
Deferred tax liabilities: | ||
Premises and equipment | 796 | 715 |
Federal Home Loan Bank stock | 26 | 138 |
Mortgage servicing rights | 1,680 | 1,318 |
Unrealized gains on securities available-for-sale | 30 | |
Unrealized gains on hedging | 82 | 91 |
Goodwill | 748 | 659 |
Intangibles | 347 | |
Other | 268 | 243 |
Total deferred tax liabilities | 3,947 | 3,194 |
Net deferred tax asset | $ 1,190 | $ 1,360 |
Note 16 - Income Taxes - Reconc
Note 16 - Income Taxes - Reconciliation of Effective Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Federal income taxes at the statutory rate | $ 1,238 | $ 2,119 | ||||||||
Federal income taxes at the statutory rate | 21.00% | 34.00% | ||||||||
State income taxes | $ 398 | $ 421 | ||||||||
State income taxes | 6.75% | 6.75% | ||||||||
Tax-exempt interest income | $ (365) | $ (466) | ||||||||
Tax-exempt interest income | (6.19%) | (7.48%) | ||||||||
Income from bank-owned life insurance | $ (128) | $ (170) | ||||||||
Income from bank-owned life insurance | (2.17%) | (2.73%) | ||||||||
New Market Tax Credits | $ (456) | $ (456) | ||||||||
New Market Tax Credits | (7.73%) | (7.32%) | ||||||||
Impact due to tax rate change | $ 715 | |||||||||
Impact due to tax rate change | 0.00% | 11.47% | ||||||||
Other, net | $ 227 | $ (35) | ||||||||
Other, net | 3.84% | 0.54% | ||||||||
Actual tax expense and effective tax rate | $ 134 | $ 360 | $ 293 | $ 127 | $ 940 | $ 538 | $ 462 | $ 188 | $ 914 | $ 2,128 |
Actual tax expense and effective tax rate | 15.50% | 34.15% |
Note 17 - Supplemental Cash F_3
Note 17 - Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Supplemental cash flow information: | ||
Cash paid during the year for interest | $ 4,824 | $ 3,831 |
Cash paid during the year for income taxes | 395 | 1,605 |
Non-cash investing and financing activities: | ||
(Decrease) increase in market value of securities available-for-sale | (1,926) | 1,360 |
Mortgage servicing rights recognized | 1,725 | 1,811 |
Loans transferred to real estate and other assets acquired in foreclosure | 4 | 66 |
Stock issued in connection with TwinCo acquisition | 9,030 | |
Treasury shares reissued for compensation | ||
Employee Stock Ownership Plan shares released | 316 | 319 |
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 non-cash assets acquired | 90,392 | |
Deposits | 82,190 | |
Accrued expenses and other liabilities | 19 | |
Total liabilities assumed | 82,209 | |
Treasury Stock [Member] | ||
Non-cash investing and financing activities: | ||
Treasury shares reissued for compensation | $ 186 | $ 145 |
Note 18 - Regulatory Capital _3
Note 18 - Regulatory Capital Requirements (Details Textual) - USD ($) | Jan. 31, 2018 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 |
Common Equity Tier 1 Capital to Risk Weighted Assets, Minimum Capital Requirements | 4.50% | |||||||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | |||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | |||||||
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Consolidated Subsidiaries | $ 11,400,000 | $ 2,000,000 | ||||||
Common Stock, Dividends, Per Share, Declared | $ 0.0925 | $ 0.09 | ||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.09 | $ 0.08 | ||||||
TwinCo Acquisition [Member] | ||||||||
Payments to Acquire Businesses, Gross | $ 9,900,000 | $ 9,900,000 | ||||||
Scenario, Forecast [Member] | ||||||||
Common Equity Tier 1 Capital to Risk Weighted Assets, Minimum Capital Requirements | 7.00% | |||||||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 8.50% | |||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 10.50% | |||||||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% |
Note 18 - Regulatory Capital _4
Note 18 - Regulatory Capital Requirements - Schedule of the Bank's Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Total risk-based capital | $ 104,186 | $ 96,602 | |
Total risk-based capital to risk weighted assets, actual, ratio | 16.449% | 18.27% | |
Total risk-based capital to risk weighted assets, minimum capital requirement, ratio | 8.00% | ||
Tier I capital | $ 87,586 | $ 80,852 | |
Tier 1 Capital to risk weighted assets, actual ratio | 13.829% | 15.29% | |
Tier 1 Capital to risk weighted assets, minimum capital requirement, ratio | 6.00% | ||
Common equity tier 1 capital to risk weighted assets, actual, amount | $ 82,586 | $ 75,852 | |
Common equity tier 1 capital to risk weighted assets, actual, ratio | 13.039% | 14.35% | |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, ratio | 4.50% | ||
Tier 1 Capital to adjusted total average assets, actual, amount | $ 87,586 | $ 80,852 | |
ier 1 Capital to adjusted total average assets, actual, ratio | 10.507% | 11.51% | |
Opportunity Bank of Montana [Member] | |||
Total risk-based capital | $ 100,131 | $ 90,340 | |
Total risk-based capital to risk weighted assets, actual, ratio | 16.023% | 17.41% | |
Total risk-based capital to risk weighted assets, minimum to be well capitalized, amount | $ 62,491 | $ 51,891 | |
Total risk-based capital to risk weighted assets, minimum to be well capitalized, ratio | 10.00% | 10.00% | |
Tier I capital | $ 93,531 | $ 84,590 | |
Tier 1 Capital to risk weighted assets, actual ratio | 14.967% | 16.30% | |
Tier 1 Capital to risk weighted assets, minimum to be well capitalized, amount | $ 49,993 | $ 41,513 | |
Tier 1 Capital to risk weighted assets, minimum to be well capitalized, ratio | 8.00% | 8.00% | |
Common equity tier 1 capital to risk weighted assets, actual, amount | $ 93,531 | $ 84,590 | |
Common equity tier 1 capital to risk weighted assets, actual, ratio | 14.967% | 16.30% | |
Common equity tier 1 capital to risk weighted assets, minimum to be well capitalized, amount | $ 40,619 | $ 33,729 | |
ConsolidatedCommon equity tier 1 capital to risk weighted assets, minimum to be well capitalized, ratio | 6.50% | 6.50% | |
Tier 1 Capital to adjusted total average assets, actual, amount | $ 93,531 | $ 84,590 | |
ier 1 Capital to adjusted total average assets, actual, ratio | 11.222% | 12.17% | |
Tier 1 Capital to adjusted total average assets, minimum to be well capitalized, amount | $ 41,673 | $ 34,739 | |
Tier 1 Capital to adjusted total average assets, minimum to be well capitalized, ratio | 5.00% | 5.00% | |
Minimum Required for Capital Adequacy Basel III Phase-In Schedule [Member] | |||
Total risk-based capital to risk weighted assets, minimum capital requirement, amount | $ 62,545 | $ 48,902 | |
Total risk-based capital to risk weighted assets, minimum capital requirement, ratio | 9.875% | 9.25% | |
Tier 1 Capital to risk weighted assets, minimum capital requirement, amount | $ 49,878 | $ 38,328 | |
Tier 1 Capital to risk weighted assets, minimum capital requirement, ratio | 7.875% | 7.25% | |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, amount | $ 40,377 | $ 30,398 | |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, ratio | 6.375% | 5.75% | |
ier 1 Capital to adjusted total average assets, minimum capital requirement, actual | $ 33,344 | $ 28,089 | |
Tier 1 Capital to adjusted total average assets, minimum capital requirement, ratio | 4.00% | 4.00% | |
Minimum Required for Capital Adequacy Basel III Phase-In Schedule [Member] | Opportunity Bank of Montana [Member] | |||
Total risk-based capital to risk weighted assets, minimum capital requirement, amount | $ 61,710 | $ 47,999 | |
Total risk-based capital to risk weighted assets, minimum capital requirement, ratio | 9.875% | 9.25% | |
Tier 1 Capital to risk weighted assets, minimum capital requirement, amount | $ 49,212 | $ 37,621 | |
Tier 1 Capital to risk weighted assets, minimum capital requirement, ratio | 7.875% | 7.25% | |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, amount | $ 39,838 | $ 29,837 | |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, ratio | 6.375% | 5.75% | |
ier 1 Capital to adjusted total average assets, minimum capital requirement, actual | $ 33,338 | $ 27,792 | |
Tier 1 Capital to adjusted total average assets, minimum capital requirement, ratio | 4.00% | 4.00% | |
Minimum Required for Capital Adequacy Basel III Fully Phase-In [Member] | |||
Total risk-based capital to risk weighted assets, minimum capital requirement, amount | $ 66,504 | $ 55,510 | |
Total risk-based capital to risk weighted assets, minimum capital requirement, ratio | 10.50% | 10.50% | |
Tier 1 Capital to risk weighted assets, minimum capital requirement, amount | $ 53,836 | $ 44,937 | |
Tier 1 Capital to risk weighted assets, minimum capital requirement, ratio | 8.50% | 8.50% | |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, amount | $ 44,336 | $ 37,007 | |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, ratio | 7.00% | 7.00% | |
ier 1 Capital to adjusted total average assets, minimum capital requirement, actual | $ 33,344 | $ 28,089 | |
Tier 1 Capital to adjusted total average assets, minimum capital requirement, ratio | 4.00% | 4.00% | |
Minimum Required for Capital Adequacy Basel III Fully Phase-In [Member] | Opportunity Bank of Montana [Member] | |||
Total risk-based capital to risk weighted assets, minimum capital requirement, amount | $ 65,615 | $ 51,891 | |
Total risk-based capital to risk weighted assets, minimum capital requirement, ratio | 10.50% | 10.50% | |
Tier 1 Capital to risk weighted assets, minimum capital requirement, amount | $ 53,117 | $ 44,107 | |
Tier 1 Capital to risk weighted assets, minimum capital requirement, ratio | 8.50% | 8.50% | |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, amount | $ 43,744 | $ 36,324 | |
Common equity tier 1 capital to risk weighted assets, minimum capital requirements, ratio | 7.00% | 7.00% | |
ier 1 Capital to adjusted total average assets, minimum capital requirement, actual | $ 33,338 | $ 27,792 | |
Tier 1 Capital to adjusted total average assets, minimum capital requirement, ratio | 4.00% | 4.00% |
Note 18 - Regulatory Capital _5
Note 18 - Regulatory Capital Requirements - Schedule of Reconciliation of the Bank's Capital (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Tier I capital | $ 87,586 | $ 80,852 | |
Allowance for loan losses | 6,600 | 5,750 | $ 4,770 |
Total risk-based capital | 104,186 | 96,602 | |
Opportunity Bank of Montana [Member] | |||
Capital determined by GAAP | 105,965 | 92,429 | |
Unrealized loss (gain) on securities available-for-sale | 1,126 | (153) | |
Unrealized gain on forward delivery commitments | (227) | (234) | |
Goodwill and core deposit intangibles, net of associated deferred tax liabilities | (12,641) | (6,595) | |
Disallowed deferred tax assets | (692) | (857) | |
Tier I capital | 93,531 | 84,590 | |
Allowance for loan losses | 6,600 | 5,750 | |
Total risk-based capital | $ 100,131 | $ 90,340 |
Note 19 - Related Party Trans_2
Note 19 - Related Party Transactions (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Construction Loan | $ 296,000 | $ 332,000 |
Affiliated Entity [Member] | ||
Long-term Line of Credit, Total | $ 0 | $ 0 |
Note 20 - Employee Benefits (De
Note 20 - Employee Benefits (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |||||
Apr. 30, 2010 | Apr. 30, 2000 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Nov. 01, 2011 | |
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 382,000 | $ 272,000 | |||||
Deferred Compensation Arrangement with Individual, Recorded Liability | $ 2,093,000 | 1,833,000 | |||||
Employee Stock Ownership Plan (ESOP), Debt Structure, Direct Loan, Amount | $ 1,971,420 | $ 368,000 | |||||
Employee Stock Ownership Plan (ESOP), Shares Contributed to ESOP | 197,142 | 46,006 | |||||
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased | $ 10 | $ 8 | |||||
Employee Stock Ownership Plan (ESOP), Debt Structure, Direct Loan Term | 12 years | ||||||
Employee Stock Ownership Plan ESOP Debt Structure Direct Loan Interest Rate | 8.00% | ||||||
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 293,000 | $ 292,000 | |||||
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares | 16,616 | 16,616 | |||||
Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares | 47,594 | ||||||
Employee Stock Ownership Plan ESOP Cost of Committed to be Released Shares | $ 477,000 | ||||||
Employee Stock Ownership Plan (ESOP), Deferred Shares, Fair Value | $ 785,000 | ||||||
Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||
Allocated Share-based Compensation Expense, Total | $ 287,000 | $ 277,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 60,160 | 64,460 | 64,268 | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ 914,000 | ||||||
Before Amendment [Member] | Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 98,571 | ||||||
After Amendment [Member] | Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 218,571 | 168,571 | |||||
Profit Sharing Plan [Member] | |||||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 573,000 | $ 565,000 | |||||
401 (k) Plan [Member] | |||||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 270,000 | $ 206,000 | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 50.00% | ||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4.00% |
Note 20 - Employee Benefits - A
Note 20 - Employee Benefits - Activity of Awards Granted (Details) - Restricted Stock [Member] - shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Unvested awards (in shares) | 64,460 | 64,268 |
Awards granted (in shares) | 12,900 | 30,700 |
Awards vested (in shares) | (17,200) | (13,228) |
Awards forfeited (in shares) | (17,280) | |
Unvested awards (in shares) | 60,160 | 64,460 |
Note 21 - Financial Instrumen_2
Note 21 - Financial Instruments and Off-balance-sheet Activities (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Concentration of Risk, Commitments | $ 111,460,000 | $ 92,740,000 |
Notional Amount of Interest Rate Lock Commitments | 18,745,000 | 15,338,000 |
Letter of Credit [Member] | ||
Fair Value, Concentration of Risk, Commitments | $ 3,925,000 | $ 3,534,000 |
Minimum [Member] | ||
Commitments to Extend Credit Estimated Completion or Termination Period | 90 days | |
Commitments to Extend Credit Fixed Interest Rate | 3.75% | 3.25% |
Maximum [Member] | ||
Commitments to Extend Credit Estimated Completion or Termination Period | 1 year | |
Commitments to Extend Credit Fixed Interest Rate | 6.25% | 5.00% |
Note 22 - Derivatives and Hed_2
Note 22 - Derivatives and Hedging Activities (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Loans and Leases Receivable, Commitments, Fixed Rates | $ 7,104,000 | $ 8,735,000 |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | $ 309,000 | 325,000 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax, Total | $ 0 | |
Minimum [Member] | ||
Loans and Leases Receivable Commitments Fixed Interest Rates | 3.50% | 2.48% |
Maximum [Member] | ||
Loans and Leases Receivable Commitments Fixed Interest Rates | 6.25% | 4.75% |
Note 23 - Fair Value Disclosu_3
Note 23 - Fair Value Disclosures (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable, Gross, Total | $ 618,031,000 | $ 514,247,000 | |
Loans and Leases Receivable, Allowance, Ending Balance | 6,600,000 | 5,750,000 | $ 4,770,000 |
Impaired Loans [Member] | |||
Loans and Leases Receivable, Gross, Total | $ 2,290,000 | 977,000 | |
Loans and Leases Receivable, Allowance, Ending Balance | 49,000 | ||
Loans Receivable, Fair Value Disclosure | $ 928,000 | ||
Mortgage Servicing Rights [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 12.00% | ||
Mortgage Servicing Rights [Member] | Minimum [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 83.00% | ||
Mortgage Servicing Rights [Member] | Maximum [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 226.00% | ||
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% | 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 | 119.00% |
Note 23 - Fair Value Disclosu_4
Note 23 - Fair Value Disclosures - Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Loans held-for-sale | $ 7,318 | $ 8,949 |
Fair Value, Inputs, Level 1 [Member] | ||
Loans held-for-sale | ||
Fair Value, Inputs, Level 2 [Member] | ||
Loans held-for-sale | 7,318 | 8,949 |
Fair Value, Inputs, Level 3 [Member] | ||
Loans held-for-sale | ||
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 9,347 | 4,857 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 9,347 | 4,857 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 68,278 | 67,886 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 68,278 | 67,886 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Corporate Debt Securities [Member] | ||
Securities available-for-sale | 11,119 | 14,644 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 11,119 | 14,644 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 19,348 | 24,869 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 19,348 | 24,869 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 23,875 | 19,788 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 23,875 | 19,788 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Asset-backed Securities [Member] | ||
Securities available-for-sale | 10,198 | |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 10,198 | |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale |
Note 23 - Fair Value Disclosu_5
Note 23 - Fair Value Disclosures - Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Impaired loans, fair value | $ 2,290 | $ 928 |
Repossessed assets, fair value | 107 | 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 | 2,290 | 928 |
Repossessed assets, fair value | $ 107 | $ 525 |
Note 23 - Fair Value Disclosu_6
Note 23 - Fair Value Disclosures - Financial Assets and Liabilities, Valuation Techniques and Significant Unobservable Inputs (Details) $ in Thousands | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Impaired Loans [Member] | |||
Fair value | [1] | $ 2,290 | $ 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] | $ 107 | $ 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 23 - Fair Value Disclosu_7
Note 23 - Fair Value Disclosures - Estimated Fair Value and Carrying Amounts of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | $ 11,201 | $ 7,437 |
Federal Home Loan Bank stock | 5,011 | 4,086 |
Federal Reserve Bank stock | 2,033 | 1,465 |
Loans Receivable, Fair Value Disclosure | 603,361 | 505,615 |
Accrued interest and dividends receivable | 3,479 | 2,555 |
Mortgage servicing rights | 8,670 | 7,312 |
Cash surrender value of life insurance | 20,545 | 14,481 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 321,399 | 277,416 |
Noninterest bearing deposits | 142,788 | 99,799 |
Time certificates of deposit | 160,735 | 142,202 |
Accrued expenses and other liabilities | 5,388 | 4,822 |
Federal Home Loan Bank advances and other borrowings | 101,885 | 82,579 |
Other long-term debt | 24,002 | 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 | 11,201 | 7,437 |
Federal Home Loan Bank stock | 5,011 | 4,086 |
Federal Reserve Bank stock | 2,033 | 1,465 |
Loans Receivable, Fair Value Disclosure | 608,043 | 506,476 |
Accrued interest and dividends receivable | 3,479 | 2,555 |
Mortgage servicing rights | 7,100 | 6,578 |
Cash surrender value of life insurance | 20,545 | 14,481 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 321,399 | 277,416 |
Noninterest bearing deposits | 142,788 | 99,799 |
Time certificates of deposit | 162,424 | 143,349 |
Accrued expenses and other liabilities | 5,388 | 4,822 |
Federal Home Loan Bank advances and other borrowings | 102,222 | 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 | 11,201 | 7,437 |
Federal Home Loan Bank stock | 5,011 | 4,086 |
Federal Reserve Bank stock | 2,033 | 1,465 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest and dividends receivable | 3,479 | 2,555 |
Mortgage servicing rights | 0 | 0 |
Cash surrender value of life insurance | 20,545 | 14,481 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 142,788 | 99,799 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 5,388 | 4,822 |
Federal Home Loan Bank advances and other borrowings | 0 | 0 |
Other long-term debt | 0 | 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 | 321,399 | 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 | 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 | 603,361 | 505,615 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 8,670 | 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 | 160,735 | 142,202 |
Accrued expenses and other liabilities | 0 | 0 |
Federal Home Loan Bank advances and other borrowings | 101,885 | 82,579 |
Other long-term debt | 24,002 | 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 24 - Mergers and Acquisi_3
Note 24 - Mergers and Acquisitions (Details Textual) | Jan. 31, 2018USD ($) | Jan. 31, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 05, 2017 |
Loans and Leases Receivable, Gross, Total | $ 618,031,000 | $ 514,247,000 | ||||||
Finite-Lived Intangible Assets, Net, Ending Balance | 1,498,000 | 273,000 | ||||||
Business Combination, Acquisition Related Costs | $ 131,000 | $ 234,000 | $ 1,169,000 | $ 676,000 | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 15.50% | 34.15% | ||||||
Assets, Total | $ 853,903,000 | $ 716,782,000 | ||||||
Deposits, Total | 626,611,000 | 520,564,000 | ||||||
Core Deposits [Member] | ||||||||
Finite-Lived Intangible Assets, Net, Ending Balance | $ 1,498,000 | $ 273,000 | ||||||
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 | $ 9,900,000 | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 9,030,000 | |||||||
Business Combination, Acquired Loans Discount | $ 1,834,000 | $ 1,834,000 | 1,245,000 | |||||
Business Combination, Accretion of Loan Discount | 589,000 | |||||||
Business Acquisition, Impairment Loans | $ 1,188,000 | |||||||
Loans and Leases Receivable, Gross, Total | 1,170,000 | |||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 28.00% | |||||||
TwinCo Acquisition [Member] | Core Deposits [Member] | ||||||||
Finite-Lived Intangible Assets, Net, Ending Balance | $ 1,609,000 | |||||||
Big Muddy Bancorp Acquisition [Member] | ||||||||
Loans and Leases Receivable, Gross, Total | $ 92,000,000 | |||||||
Assets, Total | 108,000,000 | |||||||
Deposits, Total | $ 92,000,000 |
Note 24 - Mergers and Acquisi_4
Note 24 - Mergers and Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) | Jan. 31, 2018 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Investment securities | $ 30,728,000 | |||
Loans | 55,057,000 | |||
Premises and equipment | 1,605,000 | |||
Other real estate owned | 135,000 | |||
Core deposit intangible | 1,609,000 | |||
Other assets | 1,258,000 | |||
Deposits | 82,190,000 | |||
Accrued expenses and other liabilities | 19,000 | |||
Total liabilities assumed | 82,209,000 | |||
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 | $ 9,900,000 | ||
Common stock issued (446,774 shares) | 9,030,000 | |||
Total consideration paid | 18,930,000 | |||
Goodwill | $ 5,090,000 | $ 5,090,000 |
Note 24 - Mergers and Acquisi_5
Note 24 - 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 24 - Mergers and Acquisi_6
Note 24 - 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 24 - Mergers and Acquisi_7
Note 24 - Mergers and Acquisitions - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Net interest income after loan loss provision | $ 7,347 | $ 7,283 | $ 7,786 | $ 6,345 | $ 5,950 | $ 5,828 | $ 5,578 | $ 5,182 | $ 28,761 | $ 22,538 | |
Noninterest income | 3,801 | 3,761 | 3,084 | 2,679 | 3,565 | 3,988 | 3,570 | 3,208 | 13,325 | 14,331 | |
Noninterest expense | 9,570 | 9,052 | 9,244 | 8,324 | 8,022 | 7,557 | 7,620 | 7,439 | 36,190 | 30,638 | |
Income before income tax expense | 1,578 | 1,992 | 1,626 | 700 | (1,493) | (2,259) | (1,528) | (951) | 5,896 | 6,231 | |
Income tax expense | 134 | 360 | 293 | 127 | 940 | 538 | 462 | 188 | 914 | 2,128 | |
NET INCOME | $ 1,444 | $ 1,632 | $ 1,333 | $ 573 | $ 553 | $ 1,721 | $ 1,066 | $ 763 | $ 4,982 | $ 4,103 | |
Basic earnings per share (in dollars per share) | $ 0.27 | $ 0.30 | $ 0.24 | $ 0.11 | $ 0.11 | $ 0.45 | $ 0.28 | $ 0.20 | $ 0.92 | $ 1.01 | |
Diluted earnings per share (in dollars per share) | $ 0.26 | $ 0.30 | $ 0.24 | $ 0.11 | $ 0.11 | $ 0.45 | $ 0.27 | $ 0.20 | $ 0.91 | $ 0.99 | |
Weighted average shares outstanding, basic (in shares) | 5,426,605 | 4,074,231 | |||||||||
Weighted average shares outstanding, diluted (in shares) | 5,490,347 | 4,132,590 | |||||||||
TwinCo Acquisition [Member] | Pro Forma [Member] | |||||||||||
Net interest income after loan loss provision | [1] | $ 29,044 | $ 26,249 | ||||||||
Noninterest income | [1] | 13,360 | 14,655 | ||||||||
Noninterest expense | [1] | 36,341 | 33,328 | ||||||||
Income before income tax expense | [1] | 6,063 | 7,576 | ||||||||
Income tax expense | [1] | 960 | 2,121 | ||||||||
NET INCOME | [1] | $ 5,103 | $ 5,455 | ||||||||
Basic earnings per share (in dollars per share) | [1] | $ 0.94 | $ 1.34 | ||||||||
Diluted earnings per share (in dollars per share) | [1] | $ 0.93 | $ 1.32 | ||||||||
Weighted average shares outstanding, basic (in shares) | [1] | 5,426,605 | 4,074,231 | ||||||||
Weighted average shares outstanding, diluted (in shares) | [1] | 5,490,347 | 4,132,590 | ||||||||
[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. |
Note 25 - Condensed Parent Co_3
Note 25 - Condensed Parent Company Financial Statements - Condensed Statements of Financial Condition (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS: | |||
Cash and cash equivalents | $ 11,201 | $ 7,437 | $ 7,318 |
Securities available-for-sale | 142,165 | 132,044 | |
Investment in Eagle Bancorp Statutory Trust I | 155 | 155 | |
Other assets | 301 | 478 | |
Total assets | 853,903 | 716,782 | |
Liabilities and Shareholders's Equity: | |||
Shareholders' equity | 94,806 | 83,616 | 59,456 |
Total liabilities and shareholders' equity | 853,903 | 716,782 | |
Parent Company [Member] | |||
ASSETS: | |||
Cash and cash equivalents | 1,216 | 878 | $ 953 |
Securities available-for-sale | 10,783 | 13,114 | |
Other assets | 1,813 | 2,095 | |
Total assets | 119,930 | 108,671 | |
Liabilities and Shareholders's Equity: | |||
Accounts payable and accrued expenses | 248 | 244 | |
Other long-term debt | 24,876 | 24,811 | |
Shareholders' equity | 94,806 | 83,616 | |
Total liabilities and shareholders' equity | 119,930 | 108,671 | |
Parent Company [Member] | Eagle Bancorp Statutory Trust I [Member] | |||
ASSETS: | |||
Investment in Eagle Bancorp Statutory Trust I | 155 | 155 | |
Parent Company [Member] | Opportunity Bank of Montana [Member] | |||
ASSETS: | |||
Investment in Eagle Bancorp Statutory Trust I | $ 105,963 | $ 92,429 |
Note 25 - Condensed Parent Co_4
Note 25 - Condensed Parent Company Financial Statements - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest expense | $ (1,478) | $ (1,348) | $ (1,166) | $ (1,110) | $ (1,127) | $ (1,065) | $ (1,045) | $ (857) | $ (5,102) | $ (4,094) |
Total noninterest income | 3,801 | 3,761 | 3,084 | 2,679 | 3,565 | 3,988 | 3,570 | 3,208 | 13,325 | 14,331 |
Noninterest expense | (9,570) | (9,052) | (9,244) | (8,324) | (8,022) | (7,557) | (7,620) | (7,439) | (36,190) | (30,638) |
Income before income tax expense | 1,578 | 1,992 | 1,626 | 700 | (1,493) | (2,259) | (1,528) | (951) | 5,896 | 6,231 |
Income tax expense | 134 | 360 | 293 | 127 | 940 | 538 | 462 | 188 | 914 | 2,128 |
NET INCOME | $ 1,444 | $ 1,632 | $ 1,333 | $ 573 | $ 553 | $ 1,721 | $ 1,066 | $ 763 | 4,982 | 4,103 |
Parent Company [Member] | ||||||||||
Interest income | 292 | 148 | ||||||||
Interest expense | (1,432) | (1,324) | ||||||||
Total noninterest income | (20) | |||||||||
Noninterest expense | (1,712) | (1,238) | ||||||||
Income before income tax expense | (2,872) | (2,414) | ||||||||
Income tax expense | (557) | (279) | ||||||||
Loss before equity in undistributed earnings of Opportunity Bank of Montana | (2,315) | (2,135) | ||||||||
Equity in undistributed earnings of Opportunity Bank of Montana | 7,297 | 6,238 | ||||||||
NET INCOME | $ 4,982 | $ 4,103 |
Note 25 - Condensed Parent Co_5
Note 25 - Condensed Parent Company Financial Statements - Condensed Statements of Cash Flow (Details) - USD ($) | Oct. 13, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 |
Net income | $ 1,444,000 | $ 1,632,000 | $ 1,333,000 | $ 573,000 | $ 553,000 | $ 1,721,000 | $ 1,066,000 | $ 763,000 | $ 4,982,000 | $ 4,103,000 | |
Cash contributions from Opportunity Bank of Montana | 11,400,000 | 2,000,000 | |||||||||
Cash paid for TwinCo acquisition, net of cash received | (4,243,000) | ||||||||||
Sales | 51,319,000 | 10,585,000 | |||||||||
Maturities, principal payments and calls | 11,908,000 | 10,014,000 | |||||||||
Proceeds from issuance of long-term debt | 10,000,000 | ||||||||||
Payments for debt issuance costs | (219,000) | ||||||||||
Proceeds from issuance of common stock | $ 20,157,000 | 20,157,000 | |||||||||
Dividends paid | (1,995,000) | (1,404,000) | |||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 3,764,000 | 119,000 | |||||||||
CASH AND CASH EQUIVALENTS, beginning of period | 7,437,000 | 7,318,000 | 7,437,000 | 7,318,000 | |||||||
CASH AND CASH EQUIVALENTS, end of period | 11,201,000 | 7,437,000 | 11,201,000 | 7,437,000 | |||||||
Parent Company [Member] | |||||||||||
Net income | 4,982,000 | 4,103,000 | |||||||||
Equity in undistributed earnings of Opportunity Bank of Montana | (7,297,000) | (6,238,000) | |||||||||
Other adjustments, net | 480,000 | 311,000 | |||||||||
Net cash used in operating activities | (1,835,000) | (1,824,000) | |||||||||
Cash contributions from Opportunity Bank of Montana | 11,400,000 | 2,000,000 | |||||||||
Cash distributions to Opportunity Bank of Montana | (19,800,000) | ||||||||||
Sales | 1,465,000 | ||||||||||
Maturities, principal payments and calls | 607,000 | 957,000 | |||||||||
Purchases | (10,439,000) | ||||||||||
Net cash provided by (used in) investing activities | 3,577,000 | (27,282,000) | |||||||||
Employee Stock Ownership Plan payments and dividends | 310,000 | 236,000 | |||||||||
Proceeds from issuance of long-term debt | 10,000,000 | ||||||||||
Payments for debt issuance costs | (219,000) | ||||||||||
Proceeds from issuance of common stock | 20,157,000 | ||||||||||
Treasury shares reissued for compensation | 281,000 | 261,000 | |||||||||
Dividends paid | (1,995,000) | (1,404,000) | |||||||||
Net cash (used in) provided by financing activities | (1,404,000) | 29,031,000 | |||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 338,000 | (75,000) | |||||||||
CASH AND CASH EQUIVALENTS, beginning of period | $ 878,000 | $ 953,000 | 878,000 | 953,000 | |||||||
CASH AND CASH EQUIVALENTS, end of period | $ 1,216,000 | $ 878,000 | 1,216,000 | 878,000 | |||||||
Parent Company [Member] | TwinCo Acquisition [Member] | |||||||||||
Cash paid for TwinCo acquisition, net of cash received | $ (9,895,000) |
Note 26 - Quarterly Results o_3
Note 26 - Quarterly Results of Operations (Unaudited) - Condensed Summary of Quarterly Consolidated Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest and dividend income | $ 9,085 | $ 8,825 | $ 8,976 | $ 7,957 | $ 7,371 | $ 7,224 | $ 6,925 | $ 6,340 | $ 34,843 | $ 27,860 |
Interest expense | 1,478 | 1,348 | 1,166 | 1,110 | 1,127 | 1,065 | 1,045 | 857 | 5,102 | 4,094 |
Net interest income | 7,607 | 7,477 | 7,810 | 6,847 | 6,244 | 6,159 | 5,880 | 5,483 | 29,741 | 23,766 |
Loan loss provision | 260 | 194 | 24 | 502 | 294 | 331 | 302 | 301 | 980 | 1,228 |
Net interest income after loan loss provision | 7,347 | 7,283 | 7,786 | 6,345 | 5,950 | 5,828 | 5,578 | 5,182 | 28,761 | 22,538 |
Total noninterest income | 3,801 | 3,761 | 3,084 | 2,679 | 3,565 | 3,988 | 3,570 | 3,208 | 13,325 | 14,331 |
Noninterest expense | 9,570 | 9,052 | 9,244 | 8,324 | 8,022 | 7,557 | 7,620 | 7,439 | 36,190 | 30,638 |
Income before income tax expense | 1,578 | 1,992 | 1,626 | 700 | (1,493) | (2,259) | (1,528) | (951) | 5,896 | 6,231 |
Income tax expense | 134 | 360 | 293 | 127 | 940 | 538 | 462 | 188 | 914 | 2,128 |
Net income | 1,444 | 1,632 | 1,333 | 573 | 553 | 1,721 | 1,066 | 763 | 4,982 | 4,103 |
Other comprehensive (loss) income | $ 1,526 | $ (1,018) | $ (68) | $ (1,864) | $ (333) | $ (227) | $ 1,247 | $ 37 | $ (1,424) | $ 724 |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 0.27 | $ 0.30 | $ 0.24 | $ 0.11 | $ 0.11 | $ 0.45 | $ 0.28 | $ 0.20 | $ 0.92 | $ 1.01 |
DILUTED EARNINGS PER SHARE (in dollars per share) | $ 0.26 | $ 0.30 | $ 0.24 | $ 0.11 | $ 0.11 | $ 0.45 | $ 0.27 | $ 0.20 | $ 0.91 | $ 0.99 |
Income before income tax expense | $ (1,578) | $ (1,992) | $ (1,626) | $ (700) | $ 1,493 | $ 2,259 | $ 1,528 | $ 951 | $ (5,896) | $ (6,231) |