Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 09, 2019 | |
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 Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 6,403,693 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
ASSETS: | ||
Cash due from banks | $ 9,054 | $ 10,144 |
Interest bearing deposits in banks | 2,225 | 1,057 |
Total cash and cash equivalents | 11,279 | 11,201 |
Securities available-for-sale, at fair value | 140,161 | 142,165 |
Federal Home Loan Bank stock | 4,807 | 5,011 |
Federal Reserve Bank stock | 2,040 | 2,033 |
Investment in Eagle Bancorp Statutory Trust I | 155 | 155 |
Mortgage loans held-for-sale, at fair value | 8,075 | 7,318 |
Loans receivable, net of deferred loan fees of $1,083 at March 31, 2019 and $1,098 at December 31, 2018 and allowance for loan losses of $7,100 at March 31, 2019 and $6,600 at December 31, 2018 | 720,920 | 610,333 |
Accrued interest and dividends receivable | 5,005 | 3,479 |
Mortgage servicing rights, net | 7,318 | 7,100 |
Premises and equipment, net | 35,364 | 29,343 |
Cash surrender value of life insurance, net | 23,564 | 20,545 |
Real estate and other repossessed assets acquired in settlement of loans, net | 354 | 107 |
Goodwill | 15,710 | 12,124 |
Core deposit intangible, net | 3,311 | 1,498 |
Deferred tax asset, net | 1,304 | 1,190 |
Other assets | 236 | 301 |
Total assets | 979,603 | 853,903 |
LIABILITIES: | ||
Noninterest bearing | 180,070 | 142,788 |
Interest bearing | 560,975 | 483,823 |
Total deposits | 741,045 | 626,611 |
Accrued expenses and other liabilities | 9,061 | 5,388 |
Federal Home Loan Bank advances and other borrowings | 92,313 | 102,222 |
Other long-term debt: | ||
Principal amount | 25,155 | 25,155 |
Unamortized debt issuance costs | (263) | (279) |
Total other long-term debt less unamortized debt issuance costs | 24,892 | 24,876 |
Total liabilities | 867,311 | 759,097 |
SHAREHOLDERS' EQUITY: | ||
Preferred stock (par value $0.01 per share; 1,000,000 shares authorized; no shares issued or outstanding) | 0 | 0 |
Common stock (par value $0.01 per share; 8,000,000 shares authorized; 6,714,983 and 5,718,942 shares issued; 6,431,693 and 5,477,652 shares outstanding at March 31, 2019 and December 31, 2018, respectively) | 67 | 57 |
Additional paid-in capital | 68,506 | 52,051 |
Unallocated common stock held by Employee Stock Ownership Plan | (435) | (477) |
Treasury stock, at cost | (3,372) | (2,640) |
Retained earnings | 47,512 | 46,926 |
Accumulated other comprehensive income (loss), net of tax | 14 | (1,111) |
Total shareholders' equity | 112,292 | 94,806 |
Total liabilities and shareholders' equity | $ 979,603 | $ 853,903 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Deferred loan fees | $ 1,083 | $ 1,098 |
Allowance for loan losses | $ 7,100 | $ 6,600 |
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) | 6,714,983 | 5,718,942 |
Common stock, shares outstanding (in shares) | 6,431,693 | 5,477,652 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
INTEREST AND DIVIDEND INCOME: | ||
Interest and fees on loans | $ 10,048,000 | $ 6,872,000 |
Securities available-for-sale | 958,000 | 989,000 |
Federal Home Loan Bank and Federal Reserve Bank dividends | 95,000 | 79,000 |
Interest on deposits in banks | 18,000 | 17,000 |
Other interest income | 2,000 | |
Total interest and dividend income | 11,121,000 | 7,957,000 |
INTEREST EXPENSE: | ||
Deposits | 787,000 | 426,000 |
Federal Home Loan Bank advances and other borrowings | 594,000 | 337,000 |
Long-term debt | 365,000 | 347,000 |
Total interest expense | 1,746,000 | 1,110,000 |
NET INTEREST INCOME | 9,375,000 | 6,847,000 |
Loan loss provision | 604,000 | 502,000 |
NET INTEREST INCOME AFTER LOAN LOSS PROVISION | 8,771,000 | 6,345,000 |
NONINTEREST INCOME: | ||
Net gain on sale of loans | 2,599,000 | 1,439,000 |
Appreciation in cash surrender value of life insurance | 157,000 | 124,000 |
Net loss on sale of available-for-sale securities | (55,000) | (105,000) |
Net loss on sale of real estate owned and other repossessed property | (37,000) | (25,000) |
Other noninterest income | 17,000 | 103,000 |
Total noninterest income | 3,941,000 | 2,679,000 |
NONINTEREST EXPENSE: | ||
Salaries and employee benefits | 5,992,000 | 4,909,000 |
Occupancy and equipment expense | 1,034,000 | 828,000 |
Data processing | 928,000 | 637,000 |
Advertising | 268,000 | 278,000 |
Amortization of mortgage servicing rights | 247,000 | 241,000 |
Amortization of core deposit intangible and tax credits | 254,000 | 102,000 |
Loan costs | 135,000 | 136,000 |
Federal insurance premiums | 60,000 | 69,000 |
Postage | 68,000 | 50,000 |
Legal, accounting and examination fees | 274,000 | 142,000 |
Consulting fees | 31,000 | 17,000 |
Acquisition costs | 1,171,000 | 234,000 |
Other noninterest expense | 806,000 | 681,000 |
Total noninterest expense | 11,268,000 | 8,324,000 |
INCOME BEFORE INCOME TAXES | 1,444,000 | 700,000 |
Income tax expense (includes ($67) and ($59) for the three months ended March 31, 2019 and 2018, respectively, related to income tax benefit from reclassification items) | 261,000 | 127,000 |
NET INCOME | $ 1,183,000 | $ 573,000 |
BASIC EARNINGS PER SHARE (EPS) (in dollars per share) | $ 0.18 | $ 0.11 |
DILUTED EARNINGS PER SHARE (EPS) (in dollars per share) | $ 0.18 | $ 0.11 |
WEIGHTED AVERAGE SHARES OUTSTANDING (BASIC EPS) (in shares) | 6,450,326 | 5,311,527 |
WEIGHTED AVERAGE SHARES OUTSTANDING (DILUTED EPS) (in shares) | 6,510,486 | 5,375,987 |
Deposit Account [Member] | ||
NONINTEREST INCOME: | ||
Noninterest income revenue | $ 261,000 | $ 226,000 |
Bank Servicing [Member] | ||
NONINTEREST INCOME: | ||
Noninterest income revenue | 612,000 | 560,000 |
Investment Advisory, Management and Administrative Service [Member] | ||
NONINTEREST INCOME: | ||
Noninterest income revenue | 112,000 | 132,000 |
Debit Card [Member] | ||
NONINTEREST INCOME: | ||
Noninterest income revenue | $ 275,000 | $ 225,000 |
Consolidated Statements of In_2
Consolidated Statements of Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Income tax expense, reclassification items | $ (67) | $ (59) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net income | $ 1,183 | $ 573 |
OTHER ITEMS OF COMPREHENSIVE INCOME (LOSS) BEFORE TAX: | ||
Change in fair value of investment securities available-for-sale | 1,486 | (2,583) |
Reclassification for net realized losses on investment securities included in income | 55 | 105 |
Change in fair value of loans held-for-sale | 296 | 262 |
Reclassification for net realized gains on loans held-for-sale | (309) | (325) |
Total other items of comprehensive income (loss) | 1,528 | (2,541) |
Income tax (expense) benefit related to: | ||
Investment securities | (407) | 660 |
Loans held-for-sale | 4 | 17 |
Total income tax (expense) benefit | (403) | 677 |
COMPREHENSIVE INCOME (LOSS) | $ 2,308 | $ (1,291) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Unallocated ESOP Shares [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2017 | $ 53 | $ 42,780 | $ (643) | $ (2,826) | $ 43,939 | $ 313 | $ 83,616 | |
Net income | 573 | 573 | ||||||
Other comprehensive income (loss) | (1,864) | (1,864) | ||||||
Dividends paid | (492) | (492) | ||||||
Stock issued in connection with acquisition | 4 | 9,026 | 9,030 | |||||
Employee Stock Ownership Plan shares allocated or committed to be released for allocation | 43 | 42 | 85 | |||||
Balance at Mar. 31, 2018 | 57 | 51,849 | (601) | (2,826) | 44,020 | (1,551) | 90,948 | |
Balance at Dec. 31, 2018 | 57 | 52,051 | (477) | (2,640) | 46,926 | (1,111) | 94,806 | |
Net income | 1,183 | 1,183 | ||||||
Other comprehensive income (loss) | 1,125 | 1,125 | ||||||
Dividends paid | (597) | (597) | ||||||
Stock issued in connection with acquisition | 10 | 16,425 | 16,435 | |||||
Employee Stock Ownership Plan shares allocated or committed to be released for allocation | 30 | 42 | 72 | |||||
Treasury stock purchased (42,000 shares at $17.43 average cost per share) | (732) | (732) | ||||||
Balance at Mar. 31, 2019 | $ 67 | $ 68,506 | $ (435) | $ (3,372) | $ 47,512 | $ 14 | $ 112,292 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Unallocated ESOP Shares [Member] | ||
ESOP shares allocated or committed to be released for allocation, shares (in shares) | 4,154 | |
Dividends paid, per share (in dollars per share) | $ 0.0925 | $ 0.09 |
ESOP shares allocated or committed to be released for allocation, shares (in shares) | 4,154 | |
Treasury stock reissued, shares (in shares) | 42,000 | |
Treasury stock reissued, cost per share (in dollars per share) | $ 17.43 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 1,183 | $ 573 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Loan loss provision | 604 | 502 |
Depreciation | 417 | 273 |
Net amortization of investment securities premiums and discounts | 280 | 307 |
Amortization of mortgage servicing rights | 247 | 241 |
Amortization of right of use assets | 119 | |
Amortization of core deposit intangible and tax credits | 254 | 102 |
Deferred income tax (benefit) expense | (589) | 189 |
Net gain on sale of loans | (2,599) | (1,439) |
Net loss on sale of available-for-sale securities | 55 | 105 |
Net loss on sale of real estate owned and other repossessed assets | 37 | 25 |
Net appreciation in cash surrender value of life insurance | (157) | (116) |
Net change in: | ||
Accrued interest and dividends receivable | (270) | 48 |
Loans held-for-sale | 1,829 | 1,346 |
Other assets | 353 | 10 |
Accrued expenses and other liabilities | (480) | (59) |
Net cash provided by operating activities | 1,283 | 2,107 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Sales | 3,900 | 25,994 |
Maturities, principal payments and calls | 2,919 | 2,578 |
Purchases | (1,513) | (27,107) |
Federal Home Loan Bank stock redeemed | 468 | 493 |
Federal Reserve Bank stock purchased | (7) | (554) |
Net cash received (paid) for acquisition | 6,901 | (4,243) |
Loan origination and principal collection, net | (22,583) | 827 |
Proceeds from bank owned life insurance | 205 | |
Proceeds from sale of real estate and other repossessed assets acquired in settlement of loans | 70 | |
Additions to premises and equipment | (1,850) | (4,074) |
Net cash used in investing activities | (11,695) | (5,881) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposits | 21,728 | 23,181 |
Net short-term payments on Federal Home Loan Bank and other borrowings | (11,047) | (11,495) |
Long-term advances from Federal Home Loan Bank and other borrowings | 18,000 | |
Payments on long-term Federal Home Loan Bank and other borrowings | (16,862) | (1,946) |
Purchase of treasury stock | (732) | |
Dividends paid | (597) | (492) |
Net cash provided by financing activities | 10,490 | 9,248 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 78 | 5,474 |
CASH AND CASH EQUIVALENTS, beginning of period | 11,201 | 7,437 |
CASH AND CASH EQUIVALENTS, end of period | 11,279 | 12,911 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid during the period for interest | 1,613 | 1,229 |
Cash paid during the period for income taxes | ||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Increase (decrease) in fair value of securities available-for-sale | 1,541 | (2,478) |
Mortgage servicing rights recognized | 465 | 276 |
Right of use assets obtained in exchange for lease liabilities | 2,461 | |
Loans transferred to real estate and other assets acquired in foreclosure | 131 | 4 |
Stock issued in connection with acquisitions | 16,435 | 9,030 |
Employee Stock Ownership Plan shares released | $ 72 | $ 85 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 . BASIS OF PRESENTATION Nature of Operations Eagle Bancorp Montana, Inc. (“Eagle” or “the Company”), is a Delaware corporation that holds 100.0% 1922 1975, October 2014 On August 21, 2018, 100% January 1, 2019, four The Bank currently has 22 Principles of Consolidation The consolidated financial statements include Eagle, 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 The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10 10 X 10 December 31, 2018, March 12, 2019. The results of operations for the three March 31, 2019 not December 31, 2019 The Company has evaluated events and transactions subsequent to March 31, 2019 |
Note 2 - Investment Securities
Note 2 - Investment Securities | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 2 . INVESTMENT SECURITIES Investment securities are summarized as follows: March 31, 2019 December 31, 2018 Gross Gross Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains (Losses) Value Cost Gains (Losses) Value (In Thousands) Available-for-Sale: U.S. government and agency obligations $ 9,677 $ 94 $ (25 ) $ 9,746 $ 9,333 $ 58 $ (44 ) $ 9,347 Municipal obligations 67,172 729 (345 ) 67,556 69,024 244 (990 ) 68,278 Corporate obligations 11,402 8 (129 ) 11,281 11,411 8 (300 ) 11,119 Mortgage-backed securities 17,896 75 (285 ) 17,686 19,635 86 (373 ) 19,348 Collateralized mortgage obligations 24,003 55 (294 ) 23,764 24,229 6 (360 ) 23,875 Asset-backed securities 10,287 1 (160 ) 10,128 10,350 6 (158 ) 10,198 Total $ 140,437 $ 962 $ (1,238 ) $ 140,161 $ 143,982 $ 408 $ (2,225 ) $ 142,165 Proceeds from sales of available-for-sale securities and the associated gross realized gains and losses were as follows: Three Months Ended March 31, 2019 2018 (In Thousands) Proceeds from sale of available-for-sale securities $ 3,900 $ 25,994 Gross realized gain on sale of available-for-sale securities $ 11 $ - Gross realized loss on sale of available-for-sale securities (66 ) (105 ) Net realized loss on sale of available-for-sale securities $ (55 ) $ (105 ) The amortized cost and fair value of securities by contractual maturity are shown below. Expected maturities may may March 31, 2019 Amortized Fair Cost Value (In Thousands) Due in one year or less $ 1,495 $ 1,495 Due from one to five years 14,929 14,824 Due from five to ten years 14,547 14,751 Due after ten years 67,567 67,641 98,538 98,711 Mortgage-backed securities 17,896 17,686 Collateralized mortgage obligations 24,003 23,764 Total $ 140,437 $ 140,161 Maturities of securities do not At March 31, 2019 December 31, 2018, $22,877,000 $21,408,000, The Company’s investment securities that have been in a continuous unrealized loss position for less than twelve twelve March 31, 2019 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 $ 1,762 $ (1 ) $ 2,308 $ (24 ) Municipal obligations 476 (4 ) 22,037 (341 ) Corporate obligations 2,964 (36 ) 7,310 (93 ) Mortgage-backed securities and collateralized mortgage obligations 2,392 (25 ) 25,292 (554 ) Asset-backed securities 3,873 (70 ) 5,283 (90 ) Total $ 11,467 $ (136 ) $ 62,230 $ (1,102 ) December 31, 2018 Less Than 12 Months 12 Months or Longer Gross Gross Fair Unrealized Fair Unrealized Value Losses Value Losses 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 ) Management evaluates securities for other-than-temporary impairment at least quarterly, and more frequently when economic or market concerns warrant such evaluation. The unrealized losses associated with these investments are believed to be caused by changing market conditions that are considered to be temporary and the Company does not not no three March 31, 2019, 2018. March 31, 2019 December 31, 2018, 76 108 not As of March 31, 2019, 42 1.37% December 31, 2018, 74 1.88% As of March 31, 2019, 11 1.24% December 31, 2018, 11 2.88% no As of March 31, 2019, 19 2.05% December 31, 2018, 19 2.54% March 31, 2019 no not As of March 31, 2019, 4 1.72% December 31, 2018, 4 1.89% March 31, 2019 no not |
Note 3 - Loans Receivable
Note 3 - Loans Receivable | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 3 . LOANS RECEIVABLE Loans receivable consisted of the following: March 31, December 31, 2019 2018 (In Thousands) Real estate loans: Residential 1-4 family $ 144,313 $ 144,107 Commercial real estate 394,988 328,438 Other loans: Home equity 54,637 52,159 Consumer 19,043 16,565 Commercial 116,122 76,762 Total 729,103 618,031 Deferred loan fees, net (1,083 ) (1,098 ) Allowance for loan losses (7,100 ) (6,600 ) Total loans, net $ 720,920 $ 610,333 Within the commercial real estate loan category, $12,304,000 $12,476,000 March 31, 2019 December 31, 2018, $5,945,000 $2,575,000 March 31, 2019 December 31, 2018, $1,693,000 $1,303,000 March 31, 2019 December 31, 2018, The following table includes information regarding nonperforming assets. March 31, December 31, 2019 2018 (Dollars in Thousands) Non-accrual loans $ 4,506 $ 2,268 Accruing loans delinquent 90 days or more 788 1,477 Restructured loans, net 22 22 Total nonperforming loans 5,316 3,767 Real estate owned and other repossessed assets, net 354 107 Total nonperforming assets $ 5,670 $ 3,874 Total nonperforming assets as a percentage of total assets 0.58 % 0.45 % Allowance for loan losses $ 7,100 $ 6,600 Percent of allowance for loan losses to nonperforming loans 133.56 % 175.21 % Percent of allowance for loan losses to nonperforming assets 125.22 % 170.37 % 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, 2019 $ 1,301 $ 3,593 $ 477 $ 190 $ 1,039 $ 6,600 Charge-offs - (20 ) - (9 ) (95 ) (124 ) Recoveries - 6 - 6 8 20 Provision - 344 - 10 250 604 Ending balance, March 31, 2019 $ 1,301 $ 3,923 $ 477 $ 197 $ 1,202 $ 7,100 Ending balance, March 31, 2019 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, March 31, 2019 allocated to loans collectively evaluated for impairment $ 1,301 $ 3,923 $ 477 $ 197 $ 1,202 $ 7,100 Loans receivable: Ending balance, March 31, 2019 $ 144,313 $ 394,988 $ 54,637 $ 19,043 $ 116,122 $ 729,103 Ending balance, March 31, 2019 of loans individually evaluated for impairment $ 984 $ 1,239 $ 433 $ 129 $ 1,743 $ 4,528 Ending balance, March 31, 2019 of loans collectively evaluated for impairment $ 143,329 $ 393,749 $ 54,204 $ 18,914 $ 114,379 $ 724,575 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 - - (80 ) (27 ) (23 ) (130 ) Recoveries - 3 1 2 2 8 Provision - 421 - - 81 502 Ending balance, March 31, 2018 $ 1,301 $ 3,202 $ 427 $ 200 $ 1,000 $ 6,130 Ending balance, March 31, 2018 allocated to loans individually evaluated for impairment $ - $ - $ - $ 4 $ - $ 4 Ending balance, March 31, 2018 allocated to loans collectively evaluated for impairment $ 1,301 $ 3,202 $ 427 $ 196 $ 1,000 $ 6,126 Loans receivable: Ending balance, March 31, 2018 $ 139,499 $ 272,915 $ 52,028 $ 17,252 $ 86,296 $ 567,990 Ending balance, March 31, 2018 of loans individually evaluated for impairment $ 1,325 $ 1,524 $ 241 $ 110 $ 162 $ 3,362 Ending balance, March 31, 2018 of loans collectively evaluated for impairment $ 138,174 $ 271,391 $ 51,787 $ 17,142 $ 86,134 $ 564,628 Internal classification of the loan portfolio was as follows: March 31, 2019 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 115,611 $ - $ 1,010 $ - $ - $ 116,621 Residential 1-4 family construction 27,057 - 635 - - 27,692 Commercial real estate 300,730 1,703 2,428 - - 304,861 Commercial construction and development 44,998 - - - - 44,998 Farmland 44,844 - 285 - - 45,129 Other loans: Home equity 54,204 - 433 - - 54,637 Consumer 18,872 - 171 - - 19,043 Commercial 72,876 228 833 - - 73,937 Agricultural 40,591 - 1,594 - - 42,185 Total $ 719,783 $ 1,931 $ 7,389 $ - $ - $ 729,103 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 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 March 31, 2019 Restructured Performing Loans Nonperforming Total (In Thousands) Real estate loans: Residential 1-4 family $ 116,272 $ - $ 349 $ 116,621 Residential 1-4 family construction 27,057 - 635 27,692 Commercial real estate 304,313 - 548 304,861 Commercial construction and development 44,998 - - 44,998 Farmland 44,213 - 916 45,129 Other loans: Home equity 54,204 22 411 54,637 Consumer 18,914 - 129 19,043 Commercial 73,119 - 818 73,937 Agricultural 40,697 - 1,488 42,185 Total $ 723,787 $ 22 $ 5,294 $ 729,103 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 The following tables include information regarding delinquencies within the loan portfolio. March 31, 2019 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 $ 937 $ - $ 937 $ 349 $ 115,335 $ 116,621 Residential 1-4 family construction - - 635 27,057 27,692 Commercial real estate 181 - 181 548 304,132 304,861 Commercial construction and development 25 - 25 - 44,973 44,998 Farmland - 225 225 691 44,213 45,129 Other loans: Home equity 225 - 225 433 53,979 54,637 Consumer 191 - 191 129 18,723 19,043 Commercial 257 - 257 818 72,862 73,937 Agricultural 257 563 820 925 40,440 42,185 Total $ 2,073 $ 788 $ 2,861 $ 4,528 $ 721,714 $ 729,103 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 The following tables include information regarding impaired loans. March 31, 2019 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) Real estate loans: Residential 1-4 family $ 349 $ 376 $ - Residential 1-4 family construction 635 685 - Commercial real estate 548 681 - Commercial construction and development - - - Farmland 691 728 - Other loans: Home equity 433 462 - Consumer 129 138 - Commercial 818 923 - Agricultural 925 926 - Total $ 4,528 $ 4,919 $ - December 31, 2018 Unpaid Recorded Principal Related Investment Balance Allowance Real estate loans: Residential 1-4 family $ 253 $ 277 $ - Residential 1-4 family construction 634 684 - Commercial real estate 432 527 - Commercial construction and development 13 26 - Farmland - - - Other loans: Home equity 491 522 - Consumer 127 181 - Commercial 308 310 - Agricultural 32 32 - Total $ 2,290 $ 2,559 $ - Three Months Ended March 31, 2019 2018 Average Recorded Investment (In Thousands) Real estate loans: Residential 1-4 family $ 301 $ 672 Residential 1-4 family construction 634 228 Commercial real estate 490 762 Commercial construction and development 7 - Farmland 346 - Other loans: Home equity 462 242 Consumer 128 131 Commercial 563 135 Agricultural 478 - Total $ 3,409 $ 2,170 Interest income recognized on impaired loans for the three March 31, 2019 2018 |
Note 4 - Troubled Debt Restruct
Note 4 - Troubled Debt Restructurings | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Troubled Debt Restructurings [Text Block] | NOTE 4 . TROUBLE D DEBT RESTRUCTURINGS A troubled debt restructured (“TDR”) loan is a loan in which the Bank grants a concession to the borrower that it would not not The Company offers a variety of modifications to borrowers. The modification categories offered can generally be described in the following categories: Rate Modification Term Modification Interest Only Modification Payment Modification Combination Modification During the year ended December 31, 2018, one $23,000 no $22,000 March 31, 2019 December 31, 2018. There were no March 31, 2019 12 90 As of March 31, 2019, no |
Note 5 - Deposits
Note 5 - Deposits | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 5 . DEPOSITS Deposits are summarized as follows: March 31, December 31, 2019 2018 (In Thousands) Noninterest checking $ 180,070 $ 142,788 Interest bearing checking 111,437 105,115 Savings 124,992 108,234 Money market 122,110 108,050 Time certificates of deposit 202,436 162,424 Total $ 741,045 $ 626,611 |
Note 6 - Other Long-term Debt
Note 6 - Other Long-term Debt | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 6 . OTHER LONG-TERM DEBT Other long-term debt consisted of the following: March 31, 2019 December 31, 2018 Unamortized Unamortized Debt Debt Principal Issuance Principal Issuance Amount Costs Amount Costs (In Thousands) Senior notes fixed at 5.75%, due 2022 $ 10,000 $ (125 ) $ 10,000 $ (136 ) Subordinated debentures fixed at 6.75%, due 2025 10,000 (138 ) 10,000 (143 ) Subordinated debentures variable at 3-Month Libor plus 1.42%, due 2035 5,155 - 5,155 - Total other long-term debt $ 25,155 $ (263 ) $ 25,155 $ (279 ) In February 2017, $10,000,000 5.75% 2022. not In June 2015, $10,000,000 2025 6.75% In September 2005, $5,155,000 $5,155,000. December 2005. 6.02% December 2010 3 1.42%, 4.020% 4.228% March 31, 2019 December 31, 2018, may five December 2035 For the three March 31, 2019 2018, $365,000 $347,000, |
Note 7 - Earnings Per Share
Note 7 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 7 . EARNINGS PER SHARE Basic earnings per share for the three March 31, 2019 6,450,326 three March 31, 2018 5,311,527 6,510,486 three March 31, 2019 5,375,987 three March 31, 2018. no three March 31, 2019 2018. |
Note 8 - Dividends and Stock Re
Note 8 - Dividends and Stock Repurchase Program | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8 . DIVIDENDS AND STOCK REPURCHASE PROGRAM For the year ended December 31, 2018, $0.09 March 31 June 30, 2018. $0.0925 September 30 December 31, 2018. $0.0925 January 24, 2019 March 1, 2019 February 8, 2019. $0.0925 April 18, 2019, June 7, 2019 May 17, 2019. On July 19, 2018, 100,000 may No December 31, 2018. first 2019, 42,000 $17.43 28,000 April 2019 $17.09 July 19, 2019. On July 20, 2017, 100,000 No July 20, 2018. |
Note 9 - Accumulated Other Comp
Note 9 - Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 9 . ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table includes information regarding the activity in accumulated other comprehensive income (loss). Unrealized Unrealized (Losses) Gains Gains (Losses) on Investment on Loans Securities Held-for-Sale Available-for-Sale Total Balance, January 1, 2019 $ 227 $ (1,338 ) $ (1,111 ) Other comprehensive income, before reclassifications and income taxes 296 1,486 1,782 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (309 ) 55 (254 ) Income tax benefit (expense) 4 (407 ) (403 ) Total other comprehensive (loss) income (9 ) 1,134 1,125 Balance, March 31, 2019 $ 218 $ (204 ) $ 14 Balance, January 1, 2018 $ 234 $ 79 $ 313 Other comprehensive income (loss), before reclassifications and income taxes 262 (2,583 ) (2,321 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (325 ) 105 (220 ) Income tax benefit 17 660 677 Total other comprehensive loss (46 ) (1,818 ) (1,864 ) Balance, March 31, 2018 $ 188 $ (1,739 ) $ (1,551 ) |
Note 10 - Derivatives and Hedgi
Note 10 - Derivatives and Hedging Activities | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 10 . DERIVATIVES AND HEDGING ACTIVITIES Interest Rate Lock and Forward Commitments Outstanding derivative loan commitments expose the Company to the risk that the price of the loans arising from exercise of the loan commitment might decline from inception of the rate lock to funding of the loan due to increases in mortgage interest rates. If interest rates increase, the value of these loan commitments decreases. Conversely, if interest rates decrease, the value of these loan commitments increases. The Company also enters into forward commitments to hedge against adverse price or interest rate movements on loan commitments. The notional amount of forward commitments was $21,000,000 $16,000,000 March 31, 2019 December 31, 2018, $32,496,000 $18,745,000 March 31, 2019 December 31, 2018, The Company has no not |
Note 11 - Fair Value Disclosure
Note 11 - Fair Value Disclosures | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | NOTE 11 . FAIR VALUE DISCLOSURES Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three may Level 1 – Level 2 – 1 not Level 3 – A description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not may Available-for-Sale Securities 1 2 may Impaired Loans 3 Loans Held-for- Sale 2 Repossessed Assets third 3 The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value. March 31, 2019 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 $ - $ 9,746 $ - $ 9,746 Municipal obligations - 67,556 - 67,556 Corporate obligations - 11,281 - 11,281 Mortgage-backed securities - 17,686 - 17,686 Collateralized mortgage obligations - 23,764 - 23,764 Asset-backed securities - 10,128 - 10,128 Loans held-for-sale - 8,075 - 8,075 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 Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not The following table summarizes financial assets and financial liabilities measured at fair value on a nonrecurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: March 31, 2019 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 4,528 $ 4,528 Repossessed assets - - 354 354 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 March 31, 2019, $4,528,000 not $4,528,000 3 As of December 31, 2018, $2,290,000 not $2,290,000 3 The following table represents the Banks’s Level 3 Fair Value at Principal Significant Range of March 31, December 31, Valuation Unobservable Signficant Input Instrument 2019 2018 Technique Inputs Values (Dollars In Thousands) Impaired loans $ 4,528 $ 2,290 Appraisal of collateral (1) Appraisal adjustments 10 - 30% Repossessed assets $ 354 $ 107 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 March 31, 2019 December 31, 2018, Because broadly traded markets do not not may not may not not March 31, 2019 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 11,279 $ - $ - $ 11,279 $ 11,279 Federal Home Loan Bank stock 4,807 - - 4,807 4,807 Federal Reserve Bank stock 2,040 - - 2,040 2,040 Loans receivable, net - - 722,217 722,217 721,712 Accrued interest and dividends receivable 5,005 - - 5,005 5,005 Mortgage servicing rights - - 8,630 8,630 7,318 Financial liabilities: Non-maturing interest bearing deposits - 358,539 - 358,539 358,539 Noninterest bearing deposits 180,070 - - 180,070 180,070 Time certificates of deposit - - 201,019 201,019 202,436 Accrued expenses and other liabilities 9,061 - - 9,061 9,061 Federal Home Loan Bank advances and other borrowings - - 92,175 92,175 92,313 Other long-term debt - - 24,294 24,294 25,155 Off-balance-sheet instruments - Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - December 31, 2018 Total Level 1 Level 2 Level 3 Estimated 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 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 - - - - - The following methods and assumptions were used by the Company in estimating the fair value of the following classes of financial instruments. However, the Form 10 December 31, 2018 Cash, I nterest B earing A ccounts, A ccrued I nterest and D ividend R eceivable and A ccrued E xpenses and O ther L iabilities Stock in the F ederal Home L oan B ank of Des Moines (“FHLB”) and F ederal R eserve B ank (“FRB”) Loans R eceivable Fair values are adjusted for credit risk based on assessment of risk identified with specific loans, and risk adjustments on the remaining portfolio based on credit loss experience. Mortgage S ervicing R ights 12.00% 89.00% 239.00% 113.00% 1.25% Deposits and Time C ertificates of D eposit no Advances from the FHLB /Other Borrowings and Other Long-Term Deb t March 31, 2019 December 31, 2018, Off- B alance- S heet I nstruments no |
Note 12 - Mergers and Acquisiti
Note 12 - Mergers and Acquisitions | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 12 . MERGERS AND ACQUISITIONS Effective January 1, 2019, August 21, 2018, four $16,436,000 $1,000 $16,435,000. On September 5, 2017, 100% 2 January 31, 2018, $18,930,000 $9,900,000 $9,030,000. These transactions were accounted for under the acquisition method of accounting in accordance with FASB ASC 805, not Under FASB ASC 805, not not The 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 the fair values of the assets acquired and liabilities assumed, consideration paid and the resulting goodwill. Amounts are considered provisional due to the timing of the acquisition. BMB TwinCo January 1, January 31, 2019 2018 (In Thousands) Assets acquired: Cash and cash equivalents $ 6,902 $ 5,657 Investment securities 2,096 30,728 Loans 89,204 55,057 Premises and equipment 2,246 1,605 Cash surrender value of life insurance 2,862 - Other real estate owned 223 135 Core deposit intangible 1,988 1,609 Other assets 1,995 1,258 Total assets acquired $ 107,516 $ 96,049 Liabilities assumed: Deposits $ 92,706 $ 82,190 Accrued expenses and other liabilities 1,960 19 Total liabilities assumed $ 94,666 $ 82,209 Net assets acquired $ 12,850 $ 13,840 Consideration paid: Cash $ 1 $ 9,900 Common stock issued (996,041 shares BMB and 446,774 shares TwinCo) 16,435 9,030 Total consideration paid $ 16,436 $ 18,930 Goodwill resulting from acquisition $ 3,586 $ 5,090 For both the BMB and TwinCo acquisitions, the fair value analysis of the loan portfolios 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. The total discount on BMB acquired loans was $2,813,000 January 1, 2019. March 31, 2019, $439,000. $2,374,000 March 31, 2019. The total discount on TwinCo acquired loans was $1,834,000 January 31, 2018. March 31, 2019, $81,000. December 31, 2018, $589,000. $1,164,000 March 31, 2019. Four impaired loans were acquired through the BMB acquisition with a balance of $556,000 January 1, 2019. March 31, 2019 $544,000. $1,188,000 January 31, 2018. March 31, 2019 $1,166,000. 3. Core deposit intangible assets of $1,988,000 10 $1,609,000 10 For both the BMB and TwinCo acquisition, 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. These cash flow streams were 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 the acquisition date. Direct costs related to the acquisitions were expensed as incurred. The Company recorded acquisition costs related to BMB of $1,171,000 March 31, 2019 $804,000 December 31, 2018. $131,000 June 30, 2018, $234,000 March 31, 2018 $676,000 December 31, 2017. Operations of BMB have been included in the consolidated financial statements since January 1, 2019. not not January 1, 2019 March 31, 2019. Operations of TwinCo have been included in the consolidated financial statements since February 1, 2018. not not February 1, 2018 March 31, 2019. The accompanying consolidated statements of income include the results of operations of the BMB acquired entity since the January 1, 2019 three March 31, 2019 2018 January 1, 2018. not January 1, 2018. not three March 31, 2019 2018. Three Months Ended March 31, 2019 2018 (In Thousands) Pro forma net income 1) Net interest income after loan loss provision $ 8,771 $ 7,520 Noninterest income 3,941 2,895 Noninterest expense 11,268 9,433 Income before income taxes 1) 1,444 982 Income tax expense 289 197 Net income 1) $ 1,155 $ 785 Pro forma earnings per share 1) Basic earnings per share $ 0.18 $ 0.21 Diluted earnings per share $ 0.18 $ 0.20 Weighted average shares outstanding, basic 6,450,326 3,811,409 Weighted average shares outstanding, diluted 6,510,486 3,875,677 1 Significant assumptions utilized include the acquisition cost noted above, accretion of interest rate fair value adjustments and a 20% |
Note 13 - Recent Accounting Pro
Note 13 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 13 . 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. 11. not In February 2016, No. 2016 02, 842 12 December 15, 2018, first 2019. not six one 2028. January 1, 2019, $2,461,000 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, first 2019 not not |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 14 . SUBSEQUENT EVENTS As disclosed in our Form 8 April 23, 2019, $0.01 8,000,000 20,000,000 In addition, See Note 8. 2019. |
Note 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Marketable Securities [Table Text Block] | March 31, 2019 December 31, 2018 Gross Gross Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains (Losses) Value Cost Gains (Losses) Value (In Thousands) Available-for-Sale: U.S. government and agency obligations $ 9,677 $ 94 $ (25 ) $ 9,746 $ 9,333 $ 58 $ (44 ) $ 9,347 Municipal obligations 67,172 729 (345 ) 67,556 69,024 244 (990 ) 68,278 Corporate obligations 11,402 8 (129 ) 11,281 11,411 8 (300 ) 11,119 Mortgage-backed securities 17,896 75 (285 ) 17,686 19,635 86 (373 ) 19,348 Collateralized mortgage obligations 24,003 55 (294 ) 23,764 24,229 6 (360 ) 23,875 Asset-backed securities 10,287 1 (160 ) 10,128 10,350 6 (158 ) 10,198 Total $ 140,437 $ 962 $ (1,238 ) $ 140,161 $ 143,982 $ 408 $ (2,225 ) $ 142,165 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended March 31, 2019 2018 (In Thousands) Proceeds from sale of available-for-sale securities $ 3,900 $ 25,994 Gross realized gain on sale of available-for-sale securities $ 11 $ - Gross realized loss on sale of available-for-sale securities (66 ) (105 ) Net realized loss on sale of available-for-sale securities $ (55 ) $ (105 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | March 31, 2019 Amortized Fair Cost Value (In Thousands) Due in one year or less $ 1,495 $ 1,495 Due from one to five years 14,929 14,824 Due from five to ten years 14,547 14,751 Due after ten years 67,567 67,641 98,538 98,711 Mortgage-backed securities 17,896 17,686 Collateralized mortgage obligations 24,003 23,764 Total $ 140,437 $ 140,161 |
Schedule of Unrealized Loss on Investments [Table Text Block] | March 31, 2019 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 $ 1,762 $ (1 ) $ 2,308 $ (24 ) Municipal obligations 476 (4 ) 22,037 (341 ) Corporate obligations 2,964 (36 ) 7,310 (93 ) Mortgage-backed securities and collateralized mortgage obligations 2,392 (25 ) 25,292 (554 ) Asset-backed securities 3,873 (70 ) 5,283 (90 ) Total $ 11,467 $ (136 ) $ 62,230 $ (1,102 ) December 31, 2018 Less Than 12 Months 12 Months or Longer Gross Gross Fair Unrealized Fair Unrealized Value Losses Value Losses 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 ) |
Note 3 - Loans Receivable (Tabl
Note 3 - Loans Receivable (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2019 2018 (In Thousands) Real estate loans: Residential 1-4 family $ 144,313 $ 144,107 Commercial real estate 394,988 328,438 Other loans: Home equity 54,637 52,159 Consumer 19,043 16,565 Commercial 116,122 76,762 Total 729,103 618,031 Deferred loan fees, net (1,083 ) (1,098 ) Allowance for loan losses (7,100 ) (6,600 ) Total loans, net $ 720,920 $ 610,333 |
Schedule of Information Regarding Non-performing Assets [Table Text Block] | March 31, December 31, 2019 2018 (Dollars in Thousands) Non-accrual loans $ 4,506 $ 2,268 Accruing loans delinquent 90 days or more 788 1,477 Restructured loans, net 22 22 Total nonperforming loans 5,316 3,767 Real estate owned and other repossessed assets, net 354 107 Total nonperforming assets $ 5,670 $ 3,874 Total nonperforming assets as a percentage of total assets 0.58 % 0.45 % Allowance for loan losses $ 7,100 $ 6,600 Percent of allowance for loan losses to nonperforming loans 133.56 % 175.21 % Percent of allowance for loan losses to nonperforming assets 125.22 % 170.37 % |
Financing Receivable, Allowance for Credit Loss [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, 2019 $ 1,301 $ 3,593 $ 477 $ 190 $ 1,039 $ 6,600 Charge-offs - (20 ) - (9 ) (95 ) (124 ) Recoveries - 6 - 6 8 20 Provision - 344 - 10 250 604 Ending balance, March 31, 2019 $ 1,301 $ 3,923 $ 477 $ 197 $ 1,202 $ 7,100 Ending balance, March 31, 2019 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, March 31, 2019 allocated to loans collectively evaluated for impairment $ 1,301 $ 3,923 $ 477 $ 197 $ 1,202 $ 7,100 Loans receivable: Ending balance, March 31, 2019 $ 144,313 $ 394,988 $ 54,637 $ 19,043 $ 116,122 $ 729,103 Ending balance, March 31, 2019 of loans individually evaluated for impairment $ 984 $ 1,239 $ 433 $ 129 $ 1,743 $ 4,528 Ending balance, March 31, 2019 of loans collectively evaluated for impairment $ 143,329 $ 393,749 $ 54,204 $ 18,914 $ 114,379 $ 724,575 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 - - (80 ) (27 ) (23 ) (130 ) Recoveries - 3 1 2 2 8 Provision - 421 - - 81 502 Ending balance, March 31, 2018 $ 1,301 $ 3,202 $ 427 $ 200 $ 1,000 $ 6,130 Ending balance, March 31, 2018 allocated to loans individually evaluated for impairment $ - $ - $ - $ 4 $ - $ 4 Ending balance, March 31, 2018 allocated to loans collectively evaluated for impairment $ 1,301 $ 3,202 $ 427 $ 196 $ 1,000 $ 6,126 Loans receivable: Ending balance, March 31, 2018 $ 139,499 $ 272,915 $ 52,028 $ 17,252 $ 86,296 $ 567,990 Ending balance, March 31, 2018 of loans individually evaluated for impairment $ 1,325 $ 1,524 $ 241 $ 110 $ 162 $ 3,362 Ending balance, March 31, 2018 of loans collectively evaluated for impairment $ 138,174 $ 271,391 $ 51,787 $ 17,142 $ 86,134 $ 564,628 |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2019 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 115,611 $ - $ 1,010 $ - $ - $ 116,621 Residential 1-4 family construction 27,057 - 635 - - 27,692 Commercial real estate 300,730 1,703 2,428 - - 304,861 Commercial construction and development 44,998 - - - - 44,998 Farmland 44,844 - 285 - - 45,129 Other loans: Home equity 54,204 - 433 - - 54,637 Consumer 18,872 - 171 - - 19,043 Commercial 72,876 228 833 - - 73,937 Agricultural 40,591 - 1,594 - - 42,185 Total $ 719,783 $ 1,931 $ 7,389 $ - $ - $ 729,103 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 March 31, 2019 Restructured Performing Loans Nonperforming Total (In Thousands) Real estate loans: Residential 1-4 family $ 116,272 $ - $ 349 $ 116,621 Residential 1-4 family construction 27,057 - 635 27,692 Commercial real estate 304,313 - 548 304,861 Commercial construction and development 44,998 - - 44,998 Farmland 44,213 - 916 45,129 Other loans: Home equity 54,204 22 411 54,637 Consumer 18,914 - 129 19,043 Commercial 73,119 - 818 73,937 Agricultural 40,697 - 1,488 42,185 Total $ 723,787 $ 22 $ 5,294 $ 729,103 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 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2019 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 $ 937 $ - $ 937 $ 349 $ 115,335 $ 116,621 Residential 1-4 family construction - - 635 27,057 27,692 Commercial real estate 181 - 181 548 304,132 304,861 Commercial construction and development 25 - 25 - 44,973 44,998 Farmland - 225 225 691 44,213 45,129 Other loans: Home equity 225 - 225 433 53,979 54,637 Consumer 191 - 191 129 18,723 19,043 Commercial 257 - 257 818 72,862 73,937 Agricultural 257 563 820 925 40,440 42,185 Total $ 2,073 $ 788 $ 2,861 $ 4,528 $ 721,714 $ 729,103 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 |
Impaired Financing Receivables [Table Text Block] | March 31, 2019 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) Real estate loans: Residential 1-4 family $ 349 $ 376 $ - Residential 1-4 family construction 635 685 - Commercial real estate 548 681 - Commercial construction and development - - - Farmland 691 728 - Other loans: Home equity 433 462 - Consumer 129 138 - Commercial 818 923 - Agricultural 925 926 - Total $ 4,528 $ 4,919 $ - December 31, 2018 Unpaid Recorded Principal Related Investment Balance Allowance Real estate loans: Residential 1-4 family $ 253 $ 277 $ - Residential 1-4 family construction 634 684 - Commercial real estate 432 527 - Commercial construction and development 13 26 - Farmland - - - Other loans: Home equity 491 522 - Consumer 127 181 - Commercial 308 310 - Agricultural 32 32 - Total $ 2,290 $ 2,559 $ - Three Months Ended March 31, 2019 2018 Average Recorded Investment (In Thousands) Real estate loans: Residential 1-4 family $ 301 $ 672 Residential 1-4 family construction 634 228 Commercial real estate 490 762 Commercial construction and development 7 - Farmland 346 - Other loans: Home equity 462 242 Consumer 128 131 Commercial 563 135 Agricultural 478 - Total $ 3,409 $ 2,170 |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | March 31, December 31, 2019 2018 (In Thousands) Noninterest checking $ 180,070 $ 142,788 Interest bearing checking 111,437 105,115 Savings 124,992 108,234 Money market 122,110 108,050 Time certificates of deposit 202,436 162,424 Total $ 741,045 $ 626,611 |
Note 6 - Other Long-term Debt (
Note 6 - Other Long-term Debt (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | March 31, 2019 December 31, 2018 Unamortized Unamortized Debt Debt Principal Issuance Principal Issuance Amount Costs Amount Costs (In Thousands) Senior notes fixed at 5.75%, due 2022 $ 10,000 $ (125 ) $ 10,000 $ (136 ) Subordinated debentures fixed at 6.75%, due 2025 10,000 (138 ) 10,000 (143 ) Subordinated debentures variable at 3-Month Libor plus 1.42%, due 2035 5,155 - 5,155 - Total other long-term debt $ 25,155 $ (263 ) $ 25,155 $ (279 ) |
Note 9 - Accumulated Other Co_2
Note 9 - Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Unrealized (Losses) Gains Gains (Losses) on Investment on Loans Securities Held-for-Sale Available-for-Sale Total Balance, January 1, 2019 $ 227 $ (1,338 ) $ (1,111 ) Other comprehensive income, before reclassifications and income taxes 296 1,486 1,782 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (309 ) 55 (254 ) Income tax benefit (expense) 4 (407 ) (403 ) Total other comprehensive (loss) income (9 ) 1,134 1,125 Balance, March 31, 2019 $ 218 $ (204 ) $ 14 Balance, January 1, 2018 $ 234 $ 79 $ 313 Other comprehensive income (loss), before reclassifications and income taxes 262 (2,583 ) (2,321 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (325 ) 105 (220 ) Income tax benefit 17 660 677 Total other comprehensive loss (46 ) (1,818 ) (1,864 ) Balance, March 31, 2018 $ 188 $ (1,739 ) $ (1,551 ) |
Note 11 - Fair Value Disclosu_2
Note 11 - Fair Value Disclosures (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | March 31, 2019 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 $ - $ 9,746 $ - $ 9,746 Municipal obligations - 67,556 - 67,556 Corporate obligations - 11,281 - 11,281 Mortgage-backed securities - 17,686 - 17,686 Collateralized mortgage obligations - 23,764 - 23,764 Asset-backed securities - 10,128 - 10,128 Loans held-for-sale - 8,075 - 8,075 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 |
Fair Value Measurements, Nonrecurring [Table Text Block] | March 31, 2019 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 4,528 $ 4,528 Repossessed assets - - 354 354 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 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Fair Value at Principal Significant Range of March 31, December 31, Valuation Unobservable Signficant Input Instrument 2019 2018 Technique Inputs Values (Dollars In Thousands) Impaired loans $ 4,528 $ 2,290 Appraisal of collateral (1) Appraisal adjustments 10 - 30% Repossessed assets $ 354 $ 107 Appraisal of collateral (1)(3) Liquidation expenses (2) 10 - 30% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2019 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 11,279 $ - $ - $ 11,279 $ 11,279 Federal Home Loan Bank stock 4,807 - - 4,807 4,807 Federal Reserve Bank stock 2,040 - - 2,040 2,040 Loans receivable, net - - 722,217 722,217 721,712 Accrued interest and dividends receivable 5,005 - - 5,005 5,005 Mortgage servicing rights - - 8,630 8,630 7,318 Financial liabilities: Non-maturing interest bearing deposits - 358,539 - 358,539 358,539 Noninterest bearing deposits 180,070 - - 180,070 180,070 Time certificates of deposit - - 201,019 201,019 202,436 Accrued expenses and other liabilities 9,061 - - 9,061 9,061 Federal Home Loan Bank advances and other borrowings - - 92,175 92,175 92,313 Other long-term debt - - 24,294 24,294 25,155 Off-balance-sheet instruments - Forward delivery commitments - - - - - Commitments to extend credit - - - - - Rate lock commitments - - - - - December 31, 2018 Total Level 1 Level 2 Level 3 Estimated 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 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 - - - - - |
Note 12 - Mergers and Acquisi_2
Note 12 - Mergers and Acquisitions (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | BMB TwinCo January 1, January 31, 2019 2018 (In Thousands) Assets acquired: Cash and cash equivalents $ 6,902 $ 5,657 Investment securities 2,096 30,728 Loans 89,204 55,057 Premises and equipment 2,246 1,605 Cash surrender value of life insurance 2,862 - Other real estate owned 223 135 Core deposit intangible 1,988 1,609 Other assets 1,995 1,258 Total assets acquired $ 107,516 $ 96,049 Liabilities assumed: Deposits $ 92,706 $ 82,190 Accrued expenses and other liabilities 1,960 19 Total liabilities assumed $ 94,666 $ 82,209 Net assets acquired $ 12,850 $ 13,840 Consideration paid: Cash $ 1 $ 9,900 Common stock issued (996,041 shares BMB and 446,774 shares TwinCo) 16,435 9,030 Total consideration paid $ 16,436 $ 18,930 Goodwill resulting from acquisition $ 3,586 $ 5,090 |
Business Acquisition, Pro Forma Information [Table Text Block] | Three Months Ended March 31, 2019 2018 (In Thousands) Pro forma net income 1) Net interest income after loan loss provision $ 8,771 $ 7,520 Noninterest income 3,941 2,895 Noninterest expense 11,268 9,433 Income before income taxes 1) 1,444 982 Income tax expense 289 197 Net income 1) $ 1,155 $ 785 Pro forma earnings per share 1) Basic earnings per share $ 0.18 $ 0.21 Diluted earnings per share $ 0.18 $ 0.20 Weighted average shares outstanding, basic 6,450,326 3,811,409 Weighted average shares outstanding, diluted 6,510,486 3,875,677 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) | Mar. 31, 2019 | Jan. 01, 2019 |
Big Muddy Bancorp Acquisition [Member] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |
Opportunity Bank of Montana [Member] | ||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% |
Note 2 - Investment Securitie_2
Note 2 - Investment Securities (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Pledged Financial Instruments, Not Separately Reported, Securities, Total | $ 22,877,000 | $ 21,408,000 |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | $ 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 76 | 108 |
US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 42 | 74 |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 1.37% | 1.88% |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 11 | 11 |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 1.24% | 2.88% |
Mortgage-backed Securities and Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 19 | 19 |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 2.05% | 2.54% |
Expected Credit Loss on Securities | $ 0 | |
Asset-backed Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 4 | 4 |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 1.72% | 1.89% |
Expected Credit Loss on Securities | $ 0 |
Note 2 - Investment Securitie_3
Note 2 - Investment Securities - Summary of Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Securities available-for-sale, amortized cost | $ 140,437 | $ 143,982 |
Securities available-for-sale, gross unrealized gains | 962 | 408 |
Securities available-for-sale, gross unrealized losses | (1,238) | (2,225) |
Securities available-for-sale, at fair value | 140,161 | 142,165 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 9,677 | 9,333 |
Securities available-for-sale, gross unrealized gains | 94 | 58 |
Securities available-for-sale, gross unrealized losses | (25) | (44) |
Securities available-for-sale, at fair value | 9,746 | 9,347 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 67,172 | 69,024 |
Securities available-for-sale, gross unrealized gains | 729 | 244 |
Securities available-for-sale, gross unrealized losses | (345) | (990) |
Securities available-for-sale, at fair value | 67,556 | 68,278 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 11,402 | 11,411 |
Securities available-for-sale, gross unrealized gains | 8 | 8 |
Securities available-for-sale, gross unrealized losses | (129) | (300) |
Securities available-for-sale, at fair value | 11,281 | 11,119 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale, amortized cost | 17,896 | 19,635 |
Securities available-for-sale, gross unrealized gains | 75 | 86 |
Securities available-for-sale, gross unrealized losses | (285) | (373) |
Securities available-for-sale, at fair value | 17,686 | 19,348 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale, amortized cost | 24,003 | 24,229 |
Securities available-for-sale, gross unrealized gains | 55 | 6 |
Securities available-for-sale, gross unrealized losses | (294) | (360) |
Securities available-for-sale, at fair value | 23,764 | 23,875 |
Asset-backed Securities [Member] | ||
Securities available-for-sale, amortized cost | 10,287 | 10,350 |
Securities available-for-sale, gross unrealized gains | 1 | 6 |
Securities available-for-sale, gross unrealized losses | (160) | (158) |
Securities available-for-sale, at fair value | $ 10,128 | $ 10,198 |
Note 2 - Investment Securitie_4
Note 2 - Investment Securities - Proceeds From Sale of Available-for-sale Securities and the Associated Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Proceeds from sale of available-for-sale securities | $ 3,900 | $ 25,994 |
Gross realized gain on sale of available-for-sale securities | 11 | |
Gross realized loss on sale of available-for-sale securities | (66) | (105) |
Net realized loss on sale of available-for-sale securities | $ (55) | $ (105) |
Note 2 - Investment Securitie_5
Note 2 - Investment Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Available for sale securities, due in one year or less, amortized cost | $ 1,495 | |
Available for sale securities, due in one year or less, fair value | 1,495 | |
Available for sale securities, due from one to five years, amortized cost | 14,929 | |
Available for sale securities, due from one to five years, fair value | 14,824 | |
Available for sale securities, due from five to ten years, amortized cost | 14,547 | |
Available for sale securities, due from five to ten years, fair value | 14,751 | |
Available for sale securities, due after ten years, amortized cost | 67,567 | |
Available for sale securities, due after ten years, fair value | 67,641 | |
Total available for sale securities debt maturities, amortized cost | 98,538 | |
Total available for sale securities, debt maturities, fair value | 98,711 | |
Securities available-for-sale, amortized cost | 140,437 | $ 143,982 |
Securities available-for-sale, at fair value | 140,161 | 142,165 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale securities, without single maturity, amortized cost | 17,896 | |
Available for sale securities, without single maturity, fair value | 17,686 | |
Securities available-for-sale, amortized cost | 17,896 | 19,635 |
Securities available-for-sale, at fair value | 17,686 | 19,348 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale securities, without single maturity, amortized cost | 24,003 | |
Available for sale securities, without single maturity, fair value | 23,764 | |
Securities available-for-sale, amortized cost | 24,003 | 24,229 |
Securities available-for-sale, at fair value | $ 23,764 | $ 23,875 |
Note 2 - Investment Securitie_6
Note 2 - Investment Securities - Investment Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | $ 11,467 | $ 34,552 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (136) | (506) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 62,230 | 65,876 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (1,102) | (1,719) |
US Government Corporations and Agencies Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 1,762 | |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (1) | |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 2,308 | 3,385 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (24) | (44) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 476 | 17,887 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (4) | (140) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 22,037 | 32,712 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (341) | (850) |
Corporate Debt Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 2,964 | 2,890 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (36) | (110) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 7,310 | 7,220 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (93) | (190) |
Mortgage-backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 2,392 | 5,575 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (25) | (98) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 25,292 | 22,559 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (554) | (635) |
Asset-backed Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 3,873 | 8,200 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (70) | (158) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 5,283 | |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | $ (90) |
Note 3 - Loans Receivable (Deta
Note 3 - Loans Receivable (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | $ (55,000) | $ (105,000) | |
Loans and Leases Receivable, Gross, Total | 729,103,000 | 567,990,000 | $ 618,031,000 |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 394,988,000 | 272,915,000 | 328,438,000 |
Commercial Real Estate Portfolio Segment [Member] | United States Department of Agriculture Rural Development [Member] | |||
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | 12,304,000 | ||
Loans and Leases Receivable, Gross, Total | 12,476,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 5,945,000 | 2,575,000 | |
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 116,122,000 | $ 86,296,000 | 76,762,000 |
Commercial Portfolio Segment [Member] | United States Department of Agriculture Rural Development [Member] | |||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 1,693,000 | $ 1,303,000 |
Note 3 - Loans Receivable - Sum
Note 3 - Loans Receivable - Summary of Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Loans receivable | $ 729,103 | $ 618,031 | $ 567,990 | |
Deferred loan fees, net | (1,083) | (1,098) | ||
Allowance for loan losses | (7,100) | (6,600) | (6,130) | $ (5,750) |
Total loans, net | 720,920 | 610,333 | ||
Residential Portfolio Segment [Member] | ||||
Loans receivable | 144,313 | 144,107 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans receivable | 394,988 | 328,438 | 272,915 | |
Allowance for loan losses | (3,923) | (3,593) | (3,202) | (2,778) |
Home Equity Portfolio Segment [Member] | ||||
Loans receivable | 54,637 | 52,159 | 52,028 | |
Allowance for loan losses | (477) | (477) | (427) | (506) |
Consumer Portfolio Segment [Member] | ||||
Loans receivable | 19,043 | 16,565 | 17,252 | |
Allowance for loan losses | (197) | (190) | (200) | (225) |
Commercial Portfolio Segment [Member] | ||||
Loans receivable | 116,122 | 76,762 | 86,296 | |
Allowance for loan losses | $ (1,202) | $ (1,039) | $ (1,000) | $ (940) |
Note 3 - Loans Receivable - Non
Note 3 - Loans Receivable - Nonperforming Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Non-accrual loans | $ 4,506 | $ 2,268 | ||
Accruing loans delinquent 90 days or more | 788 | 1,477 | ||
Restructured loans, net | 22 | 22 | ||
Total nonperforming loans | 5,316 | 3,767 | ||
Real estate and other repossessed assets acquired in settlement of loans, net | 354 | 107 | ||
Total nonperforming assets | $ 5,670 | $ 3,874 | ||
Total nonperforming assets as a percentage of total assets | 0.58% | 0.45% | ||
Allowance for loan losses | $ 7,100 | $ 6,600 | $ 6,130 | $ 5,750 |
Percent of allowance for loan losses to nonperforming loans | 133.56% | 175.21% | ||
Percent of allowance for loan losses to nonperforming assets | 125.22% | 170.37% |
Note 3 - Loans Receivable - All
Note 3 - Loans Receivable - Allowance for Loan Losses Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Allowance for loan losses, beginning balance | $ 6,600 | $ 5,750 |
Charge-offs | (124) | (130) |
Recoveries | 20 | 8 |
Loan loss provision | 604 | 502 |
Allowance for loan losses, ending balance | 7,100 | 6,130 |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 4 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 7,100 | 6,126 |
Loans receivable, total | 729,103 | 567,990 |
Loans receivable, ending balance, loans individually evaluated for impairment | 4,528 | 3,362 |
Loans receivable, ending balance, loans collectively evaluated for impairment | 724,575 | 564,628 |
One-to-Four Family Loans [Member] | ||
Loans receivable, total | 139,499 | |
Residential Portfolio Segment [Member] | ||
Loans receivable, total | 144,313 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | ||
Allowance for loan losses, beginning balance | 1,301 | 1,301 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Loan loss provision | 0 | |
Allowance for loan losses, ending balance | 1,301 | 1,301 |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 1,301 | 1,301 |
Loans receivable, total | 116,621 | |
Loans receivable, ending balance, loans individually evaluated for impairment | 984 | 1,325 |
Loans receivable, ending balance, loans collectively evaluated for impairment | 143,329 | 138,174 |
Commercial Real Estate Portfolio Segment [Member] | ||
Allowance for loan losses, beginning balance | 3,593 | 2,778 |
Charge-offs | (20) | 0 |
Recoveries | 6 | 3 |
Loan loss provision | 344 | 421 |
Allowance for loan losses, ending balance | 3,923 | 3,202 |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 3,923 | 3,202 |
Loans receivable, total | 394,988 | 272,915 |
Loans receivable, ending balance, loans individually evaluated for impairment | 1,239 | 1,524 |
Loans receivable, ending balance, loans collectively evaluated for impairment | 393,749 | 271,391 |
Home Equity Portfolio Segment [Member] | ||
Allowance for loan losses, beginning balance | 477 | 506 |
Charge-offs | (80) | |
Recoveries | 1 | |
Loan loss provision | ||
Allowance for loan losses, ending balance | 477 | 427 |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 477 | 427 |
Loans receivable, total | 54,637 | 52,028 |
Loans receivable, ending balance, loans individually evaluated for impairment | 433 | 241 |
Loans receivable, ending balance, loans collectively evaluated for impairment | 54,204 | 51,787 |
Consumer Portfolio Segment [Member] | ||
Allowance for loan losses, beginning balance | 190 | 225 |
Charge-offs | (9) | (27) |
Recoveries | 6 | 2 |
Loan loss provision | 10 | |
Allowance for loan losses, ending balance | 197 | 200 |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 4 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 197 | 196 |
Loans receivable, total | 19,043 | 17,252 |
Loans receivable, ending balance, loans individually evaluated for impairment | 129 | 110 |
Loans receivable, ending balance, loans collectively evaluated for impairment | 18,914 | 17,142 |
Commercial Portfolio Segment [Member] | ||
Allowance for loan losses, beginning balance | 1,039 | 940 |
Charge-offs | (95) | (23) |
Recoveries | 8 | 2 |
Loan loss provision | 250 | 81 |
Allowance for loan losses, ending balance | 1,202 | 1,000 |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 1,202 | 1,000 |
Loans receivable, total | 116,122 | 86,296 |
Loans receivable, ending balance, loans individually evaluated for impairment | 1,743 | 162 |
Loans receivable, ending balance, loans collectively evaluated for impairment | $ 114,379 | $ 86,134 |
Note 3 - Loans Receivable - Int
Note 3 - Loans Receivable - Internal Classification of the Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 |
Loans receivable | $ 729,103 | $ 618,031 | $ 567,990 |
Performing Financial Instruments [Member] | |||
Loans receivable | 723,787 | 614,264 | |
Restructured Loans [Member] | |||
Loans receivable | 22 | 22 | |
Nonperforming Financial Instruments [Member] | |||
Loans receivable | 5,294 | 3,745 | |
One-to-Four Family Loans [Member] | |||
Loans receivable | 139,499 | ||
Residential Portfolio Segment [Member] | |||
Loans receivable | 144,313 | 144,107 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 116,621 | 116,939 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 116,272 | 116,556 | |
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 | 349 | 383 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 27,692 | 27,168 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 27,057 | 26,534 | |
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 | 635 | 634 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 394,988 | 328,438 | 272,915 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 304,861 | 256,784 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 304,313 | 255,005 | |
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 | 548 | 1,779 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 44,998 | 41,739 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 44,998 | 41,726 | |
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 | 45,129 | 29,915 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 44,213 | 29,915 | |
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 | 916 | ||
Home Equity Portfolio Segment [Member] | |||
Loans receivable | 54,637 | 52,159 | 52,028 |
Home Equity Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 54,204 | 51,668 | |
Home Equity Portfolio Segment [Member] | Restructured Loans [Member] | |||
Loans receivable | 22 | 22 | |
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | 411 | 469 | |
Consumer Portfolio Segment [Member] | |||
Loans receivable | 19,043 | 16,565 | 17,252 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 18,914 | 16,438 | |
Consumer Portfolio Segment [Member] | Restructured Loans [Member] | |||
Loans receivable | |||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans receivable | 129 | 127 | |
Commercial Portfolio Segment [Member] | |||
Loans receivable | 116,122 | 76,762 | $ 86,296 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 73,937 | 59,053 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 73,119 | 58,745 | |
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 | 818 | 308 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 42,185 | 17,709 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Performing Financial Instruments [Member] | |||
Loans receivable | 40,697 | 17,677 | |
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 | 1,488 | 32 | |
Pass [Member] | |||
Loans receivable | 719,783 | 610,115 | |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 115,611 | 116,065 | |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 27,057 | 26,533 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 300,730 | 252,731 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 44,998 | 41,726 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 44,844 | 29,915 | |
Pass [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 54,204 | 51,668 | |
Pass [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 18,872 | 16,394 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 72,876 | 57,778 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 40,591 | 17,305 | |
Special Mention [Member] | |||
Loans receivable | 1,931 | 2,681 | |
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 | 1,703 | 1,731 | |
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 | 228 | 950 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 0 | 0 | |
Substandard [Member] | |||
Loans receivable | 7,389 | 5,154 | |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 1,010 | 874 | |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 635 | 635 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 2,428 | 2,322 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 13 | ||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 285 | 0 | |
Substandard [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 433 | 491 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 171 | 171 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 833 | 244 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 1,594 | 404 | |
Doubtful [Member] | |||
Loans receivable | 81 | ||
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 | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | |||
Loans receivable | 0 | ||
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 | ||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 0 | ||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | $ 0 | $ 0 |
Note 3 - Loans Receivable - Del
Note 3 - Loans Receivable - Delinquencies Within the Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 |
Past due | $ 2,861 | $ 3,509 | |
Non-accrual Loans | 4,528 | 2,290 | |
Current Loans | 721,714 | 612,232 | |
Loans receivable | 729,103 | 618,031 | $ 567,990 |
Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 2,073 | 2,032 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 788 | 1,477 | |
One-to-Four Family Loans [Member] | |||
Loans receivable | 139,499 | ||
Residential Portfolio Segment [Member] | |||
Loans receivable | 144,313 | 144,107 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Past due | 937 | 511 | |
Non-accrual Loans | 349 | 253 | |
Current Loans | 115,335 | 116,175 | |
Loans receivable | 116,621 | 116,939 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 937 | 381 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 130 | ||
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Past due | 118 | ||
Non-accrual Loans | 635 | 634 | |
Current Loans | 27,057 | 26,416 | |
Loans receivable | 27,692 | 27,168 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 118 | ||
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | |||
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 394,988 | 328,438 | 272,915 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Past due | 181 | 2,322 | |
Non-accrual Loans | 548 | 432 | |
Current Loans | 304,132 | 254,030 | |
Loans receivable | 304,861 | 256,784 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 181 | 975 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 1,347 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Past due | 25 | 9 | |
Non-accrual Loans | 13 | ||
Current Loans | 44,973 | 41,717 | |
Loans receivable | 44,998 | 41,739 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 25 | 9 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | |||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Past due | 225 | ||
Non-accrual Loans | 691 | ||
Current Loans | 44,213 | 29,915 | |
Loans receivable | 45,129 | 29,915 | |
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] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 225 | ||
Home Equity Portfolio Segment [Member] | |||
Past due | 225 | 39 | |
Non-accrual Loans | 433 | 491 | |
Current Loans | 53,979 | 51,629 | |
Loans receivable | 54,637 | 52,159 | 52,028 |
Home Equity Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 225 | 39 | |
Home Equity Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | |||
Consumer Portfolio Segment [Member] | |||
Past due | 191 | 135 | |
Non-accrual Loans | 129 | 127 | |
Current Loans | 18,723 | 16,303 | |
Loans receivable | 19,043 | 16,565 | 17,252 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 191 | 135 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | |||
Loans receivable | 116,122 | 76,762 | $ 86,296 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Past due | 257 | 284 | |
Non-accrual Loans | 818 | 308 | |
Current Loans | 72,862 | 58,461 | |
Loans receivable | 73,937 | 59,053 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 257 | 284 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Past due | 820 | 91 | |
Non-accrual Loans | 925 | 32 | |
Current Loans | 40,440 | 17,586 | |
Loans receivable | 42,185 | 17,709 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 257 | 91 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | $ 563 |
Note 3 - Loans Receivable - Imp
Note 3 - Loans Receivable - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Recorded investment | $ 4,528 | $ 2,290 | |
Unpaid principal balance | 4,919 | 2,559 | |
Average recorded investment | 3,409 | $ 2,170 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Recorded investment, with no related allowance | 349 | 253 | |
Unpaid principal balance, with no related allowance | 376 | 277 | |
Average recorded investment | 301 | 672 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Recorded investment, with no related allowance | 635 | 634 | |
Unpaid principal balance, with no related allowance | 685 | 684 | |
Average recorded investment | 634 | 228 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Recorded investment, with no related allowance | 548 | 432 | |
Unpaid principal balance, with no related allowance | 681 | 527 | |
Average recorded investment | 490 | 762 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Recorded investment, with no related allowance | 0 | 13 | |
Unpaid principal balance, with no related allowance | 0 | 26 | |
Average recorded investment | 7 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Recorded investment, with no related allowance | 691 | 0 | |
Unpaid principal balance, with no related allowance | 728 | 0 | |
Average recorded investment | 346 | ||
Home Equity Portfolio Segment [Member] | |||
Recorded investment, with no related allowance | 433 | 491 | |
Unpaid principal balance, with no related allowance | 462 | 522 | |
Average recorded investment | 462 | 242 | |
Consumer Portfolio Segment [Member] | |||
Recorded investment, with no related allowance | 129 | 127 | |
Unpaid principal balance, with no related allowance | 138 | 181 | |
Average recorded investment | 128 | 131 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Recorded investment, with no related allowance | 818 | 308 | |
Unpaid principal balance, with no related allowance | 923 | 310 | |
Average recorded investment | 563 | 135 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Recorded investment, with no related allowance | 925 | 32 | |
Unpaid principal balance, with no related allowance | 926 | $ 32 | |
Average recorded investment | $ 478 |
Note 4 - Troubled Debt Restru_2
Note 4 - Troubled Debt Restructurings (Details Textual) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Mar. 31, 2018USD ($) | |
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Financing Receivable, Troubled Debt Restructuring | $ 22,000 | $ 23,000 | |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | 0 | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | ||
Financing Receivable, Troubled Debt Restructuring, Recorded Investment | $ 22,000 |
Note 5 - Deposits - Summary of
Note 5 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Noninterest checking | $ 180,070 | $ 142,788 |
Interest bearing checking | 111,437 | 105,115 |
Savings | 124,992 | 108,234 |
Money market | 122,110 | 108,050 |
Time certificates of deposit | 202,436 | 162,424 |
Total | $ 741,045 | $ 626,611 |
Note 6 - Other Long-term Debt_2
Note 6 - Other Long-term Debt (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Feb. 28, 2017 | Jun. 30, 2015 | Dec. 31, 2010 | Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Sep. 30, 2005 | |
Debt Instrument, Face Amount | $ 25,155,000 | $ 25,155,000 | |||||
Interest Expense, Long-term Debt, Total | $ 365,000 | $ 347,000 | |||||
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 | 4.02% | 4.228% | |||||
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 6 - Other Long-term Debt -
Note 6 - Other Long-term Debt - Summary of Other Long-term Debt (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 | Feb. 28, 2017 | Jun. 30, 2015 |
Principal amount | $ 25,155,000 | $ 25,155,000 | ||
Unamortized debt issuance costs | (263,000) | (279,000) | ||
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | ||||
Principal amount | 10,000,000 | 10,000,000 | $ 10,000,000 | |
Unamortized debt issuance costs | (125,000) | (136,000) | ||
6.75% Subordinated Notes Due in 2025 [Member] | ||||
Principal amount | 10,000,000 | 10,000,000 | $ 10,000,000 | |
Unamortized debt issuance costs | (138,000) | (143,000) | ||
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | ||||
Principal amount | 5,155,000 | 5,155,000 | ||
Unamortized debt issuance costs |
Note 6 - Other Long-term Debt_3
Note 6 - Other Long-term Debt - Summary of Other Long-term Debt (Details) (Parentheticals) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Feb. 28, 2017 | Jun. 30, 2015 | Mar. 31, 2019 | Dec. 31, 2018 | |
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | ||||
Debt instrument, fixed interest rate | 5.75% | 5.75% | 5.75% | |
Debt instrument, maturity year | 2022 | 2022 | 2022 | |
6.75% Subordinated Notes Due in 2025 [Member] | ||||
Debt instrument, fixed interest rate | 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 | ||
Debt instrument, interest rate above LIBOR rate | 1.42% | 1.42% |
Note 7 - Earnings Per Share (De
Note 7 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Weighted Average Number of Shares Outstanding, Basic, Total | 6,450,326 | 5,311,527 |
Weighted Average Number of Shares Outstanding, Diluted, Total | 6,510,486 | 5,375,987 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 |
Note 8 - Dividends and Stock _2
Note 8 - Dividends and Stock Repurchase Program (Details Textual) - $ / shares | Apr. 18, 2019 | Jan. 24, 2019 | Apr. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2018 | Jul. 20, 2018 | Jul. 19, 2018 | Jul. 20, 2017 |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.0925 | $ 0.09 | $ 0.09 | |||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.0925 | $ 0.0925 | $ 0.0925 | $ 0.0925 | ||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100,000 | 100,000 | ||||||||||
Treasury Stock, Shares, Acquired | 28,000 | 42,000 | 0 | 0 | ||||||||
Stock Issued During Period Treasury Stock Reissued Average Cost Per Share | $ 17.09 | $ 17.43 |
Note 9 - Accumulated Other Co_3
Note 9 - Accumulated Other Comprehensive Income (Loss) - Activity in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Balance | $ 94,806 | $ 83,616 |
Balance | 112,292 | 90,948 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Balance | 227 | 234 |
Other comprehensive income (loss), before reclassifications and income taxes | 296 | 262 |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (309) | (325) |
Income tax benefit (expense) | 4 | 17 |
Total other comprehensive (loss) income | (9) | (46) |
Balance | 218 | 188 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||
Balance | (1,338) | 79 |
Other comprehensive income (loss), before reclassifications and income taxes | 1,486 | (2,583) |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | 55 | 105 |
Income tax benefit (expense) | (407) | 660 |
Total other comprehensive (loss) income | 1,134 | (1,818) |
Balance | (204) | (1,739) |
AOCI Attributable to Parent [Member] | ||
Balance | (1,111) | 313 |
Other comprehensive income (loss), before reclassifications and income taxes | 1,782 | (2,321) |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (254) | (220) |
Income tax benefit (expense) | (403) | 677 |
Total other comprehensive (loss) income | 1,125 | (1,864) |
Balance | $ 14 | $ (1,551) |
Note 10 - Derivatives and Hed_2
Note 10 - Derivatives and Hedging Activities (Details Textual) - Designated as Hedging Instrument [Member] - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Interest Rate Forward Commitments [Member] | ||
Derivative, Notional Amount | $ 21,000,000 | $ 16,000,000 |
Interest Rate Lock Commitments [Member] | ||
Derivative, Notional Amount | $ 32,496,000 | $ 18,745,000 |
Note 11 - Fair Value Disclosu_3
Note 11 - Fair Value Disclosures (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | |
Loans and Leases Receivable, Gross, Total | $ 729,103,000 | $ 618,031,000 | $ 567,990,000 |
Impaired Loans [Member] | |||
Loans and Leases Receivable, Gross, Total | 4,528,000 | $ 2,290,000 | |
Loans Receivable, Fair Value Disclosure | $ 4,528,000 | ||
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 | 89.00% | ||
Mortgage Servicing Rights [Member] | Maximum [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 239.00% | ||
Mortgage Servicing Rights [Member] | Maximum [Member] | Agency Investors [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 1.25% | ||
Mortgage Servicing Rights [Member] | Weighted Average [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 113.00% |
Note 11 - Fair Value Disclosu_4
Note 11 - Fair Value Disclosures - Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Loans held-for-sale | $ 8,075 | $ 7,318 |
Fair Value, Inputs, Level 1 [Member] | ||
Loans held-for-sale | ||
Fair Value, Inputs, Level 2 [Member] | ||
Loans held-for-sale | 8,075 | 7,318 |
Fair Value, Inputs, Level 3 [Member] | ||
Loans held-for-sale | ||
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 9,746 | 9,347 |
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 | 9,746 | 9,347 |
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 | 67,556 | 68,278 |
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 | 67,556 | 68,278 |
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 | 11,281 | 11,119 |
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 | 11,281 | 11,119 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 17,686 | 19,348 |
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 | 17,686 | 19,348 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 23,764 | 23,875 |
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 | 23,764 | 23,875 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Asset-backed Securities [Member] | ||
Securities available-for-sale | 10,128 | 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 | 10,128 | 10,198 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale |
Note 11 - Fair Value Disclosu_5
Note 11 - Fair Value Disclosures - Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Impaired loans, fair value | $ 4,528 | $ 2,290 |
Repossessed assets, fair value | 354 | 107 |
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 | 4,528 | 2,290 |
Repossessed assets, fair value | $ 354 | $ 107 |
Note 11 - Fair Value Disclosu_6
Note 11 - Fair Value Disclosures - Financial Assets and Liabilities, Valuation Techniques and Significant Unobservable Inputs (Details) $ in Thousands | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Impaired Loans [Member] | |||
Fair value | [1] | $ 4,528 | $ 2,290 |
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] | $ 354 | $ 107 |
Repossessed Assets [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
Repossessed assets, discount rate | 0.1 | ||
Repossessed Assets [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
Repossessed assets, discount rate | 0.3 | ||
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable, less associated allowance. | ||
[2] | Appraisals may be adjusted for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. | ||
[3] | Includes qualitative adjustments by management and estimated liquidation expenses. |
Note 11 - Fair Value Disclosu_7
Note 11 - Fair Value Disclosures - Estimated Fair Value and Carrying Amounts of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | $ 11,279 | $ 11,201 |
Federal Home Loan Bank stock | 4,807 | 5,011 |
Federal Reserve Bank stock | 2,040 | 2,033 |
Loans Receivable, Fair Value Disclosure | 722,217 | 603,361 |
Accrued interest and dividends receivable | 5,005 | 3,479 |
Mortgage servicing rights | 8,630 | 8,670 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 358,539 | 321,399 |
Noninterest bearing deposits | 180,070 | 142,788 |
Time certificates of deposit | 201,019 | 160,735 |
Accrued expenses and other liabilities | 9,061 | 5,388 |
Federal Home Loan Bank advances and other borrowings | 92,175 | 101,885 |
Other long-term debt | 24,294 | 24,002 |
Estimate of Fair Value Measurement [Member] | Forward Contracts [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Reported Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 11,279 | 11,201 |
Federal Home Loan Bank stock | 4,807 | 5,011 |
Federal Reserve Bank stock | 2,040 | 2,033 |
Loans Receivable, Fair Value Disclosure | 721,712 | 608,043 |
Accrued interest and dividends receivable | 5,005 | 3,479 |
Mortgage servicing rights | 7,318 | 7,100 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 358,539 | 321,399 |
Noninterest bearing deposits | 180,070 | 142,788 |
Time certificates of deposit | 202,436 | 162,424 |
Accrued expenses and other liabilities | 9,061 | 5,388 |
Federal Home Loan Bank advances and other borrowings | 92,313 | 102,222 |
Other long-term debt | 25,155 | 25,155 |
Reported Value Measurement [Member] | Forward Contracts [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Reported Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Reported Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 11,279 | 11,201 |
Federal Home Loan Bank stock | 4,807 | 5,011 |
Federal Reserve Bank stock | 2,040 | 2,033 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest and dividends receivable | 5,005 | 3,479 |
Mortgage servicing rights | 0 | 0 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 180,070 | 142,788 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 9,061 | 5,388 |
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] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Financial liabilities: | ||
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 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 358,539 | 321,399 |
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] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Financial liabilities: | ||
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 | 722,217 | 603,361 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 8,630 | 8,670 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 0 | 0 |
Time certificates of deposit | 201,019 | 160,735 |
Accrued expenses and other liabilities | 0 | 0 |
Federal Home Loan Bank advances and other borrowings | 92,175 | 101,885 |
Other long-term debt | 24,294 | 24,002 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Forward Contracts [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Commitments to Extend Credit [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||
Financial liabilities: | ||
Off-balance sheet instruments | $ 0 | $ 0 |
Note 12 - Mergers and Acquisi_3
Note 12 - Mergers and Acquisitions (Details Textual) | Jan. 01, 2019USD ($) | Jan. 31, 2018USD ($) | Jan. 31, 2018USD ($) | Mar. 31, 2019USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 05, 2017 |
Loans and Leases Receivable, Gross, Total | $ 729,103,000 | $ 567,990,000 | $ 618,031,000 | ||||||
Finite-Lived Intangible Assets, Net, Ending Balance | 3,311,000 | 1,498,000 | |||||||
Business Combination, Acquisition Related Costs | $ 1,171,000 | 234,000 | |||||||
Core Deposits [Member] | |||||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||||||
Ruby Valley Bank [Member] | Madison County, Montana [Member] | |||||||||
Number of Bank Branches | 2 | ||||||||
Big Muddy Bancorp Acquisition [Member] | |||||||||
Business Combination, Consideration Transferred, Total | $ 16,436,000 | ||||||||
Payments to Acquire Businesses, Gross | 1,000 | ||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 16,435,000 | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||||
Business Combination, Acquired Loans Discount | $ 2,813,000 | $ 2,374,000 | |||||||
Business Combination, Accretion of Loan Discount | 439,000 | ||||||||
Business Acquisition, Impairment Loans | $ 556,000 | ||||||||
Loans and Leases Receivable, Gross, Total | 544,000 | ||||||||
Business Combination, Acquisition Related Costs | $ 1,171,000 | 804,000 | |||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 20.00% | ||||||||
Big Muddy Bancorp Acquisition [Member] | Core Deposits [Member] | |||||||||
Finite-Lived Intangible Assets, Net, Ending Balance | $ 1,988,000 | ||||||||
TwinCo Acquisition [Member] | |||||||||
Business Combination, Consideration Transferred, Total | $ 18,930,000 | ||||||||
Payments to Acquire Businesses, Gross | 9,900,000 | ||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 9,030,000 | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||||
Business Combination, Acquired Loans Discount | $ 1,834,000 | $ 1,834,000 | 1,164,000 | ||||||
Business Combination, Accretion of Loan Discount | 81,000 | $ 589,000 | |||||||
Business Acquisition, Impairment Loans | $ 1,188,000 | ||||||||
Loans and Leases Receivable, Gross, Total | 1,166,000 | ||||||||
Business Combination, Acquisition Related Costs | $ 131,000 | $ 234,000 | $ 676,000 | ||||||
TwinCo Acquisition [Member] | Core Deposits [Member] | |||||||||
Finite-Lived Intangible Assets, Net, Ending Balance | $ 1,609,000 |
Note 12 - Mergers and Acquisi_4
Note 12 - Mergers and Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) | Jan. 01, 2019 | Jan. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018 |
Goodwill | $ 15,710,000 | $ 12,124,000 | ||
Big Muddy Bancorp Acquisition [Member] | ||||
Cash and cash equivalents | $ 6,902,000 | |||
Investment securities | 2,096,000 | |||
Loans | 89,204,000 | |||
Premises and equipment | 2,246,000 | |||
Cash surrender value of life insurance | 2,862,000 | |||
Other real estate owned | 223,000 | |||
Core deposit intangible | 1,988,000 | |||
Other assets | 1,995,000 | |||
Total assets acquired | 107,516,000 | |||
Deposits | 92,706,000 | |||
Accrued expenses and other liabilities | 1,960,000 | |||
Total liabilities assumed | 94,666,000 | |||
Net assets acquired | 12,850,000 | |||
Cash | 1,000 | |||
Common stock issued (996,041 shares BMB and 446,774 shares TwinCo) | 16,435,000 | |||
Total consideration paid | 16,436,000 | |||
Goodwill | $ 3,586,000 | |||
TwinCo Acquisition [Member] | ||||
Cash and cash equivalents | $ 5,657,000 | |||
Investment securities | 30,728,000 | |||
Loans | 55,057,000 | |||
Premises and equipment | 1,605,000 | |||
Cash surrender value of life insurance | ||||
Other real estate owned | 135,000 | |||
Core deposit intangible | 1,609,000 | |||
Other assets | 1,258,000 | |||
Total assets acquired | 96,049,000 | |||
Deposits | 82,190,000 | |||
Accrued expenses and other liabilities | 19,000 | |||
Total liabilities assumed | 82,209,000 | |||
Net assets acquired | 13,840,000 | |||
Cash | 9,900,000 | |||
Common stock issued (996,041 shares BMB and 446,774 shares TwinCo) | 9,030,000 | |||
Total consideration paid | 18,930,000 | |||
Goodwill | $ 5,090,000 |
Note 12 - Mergers and Acquisi_5
Note 12 - Mergers and Acquisitions - Assets Acquired and Liabilities Assumed (Details) (Parentheticals) - shares | Jan. 01, 2019 | Jan. 31, 2018 |
Big Muddy Bancorp Acquisition [Member] | ||
Common stock issued, shares (in shares) | 996,041 | |
TwinCo Acquisition [Member] | ||
Common stock issued, shares (in shares) | 446,774 |
Note 12 - Mergers and Acquisi_6
Note 12 - Mergers and Acquisitions - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Net interest income after loan loss provision | $ 8,771 | $ 6,345 | |
Noninterest income | 3,941 | 2,679 | |
Noninterest expense | 11,268 | 8,324 | |
Income before income taxes1) | 1,444 | 700 | |
Income tax expense | 261 | 127 | |
Net income1) | $ 1,183 | $ 573 | |
Basic earnings per share (in dollars per share) | $ 0.18 | $ 0.11 | |
Diluted earnings per share (in dollars per share) | $ 0.18 | $ 0.11 | |
Weighted Average Number of Shares Outstanding, Basic, Total | 6,450,326 | 5,311,527 | |
Weighted Average Number of Shares Outstanding, Diluted, Total | 6,510,486 | 5,375,987 | |
TwinCo Acquisition [Member] | Pro Forma [Member] | |||
Net interest income after loan loss provision | [1] | $ 8,771 | $ 7,520 |
Noninterest income | [1] | 3,941 | 2,895 |
Noninterest expense | [1] | 11,268 | 9,433 |
Income before income taxes1) | [1] | 1,444 | 982 |
Income tax expense | [1] | 289 | 197 |
Net income1) | [1] | $ 1,155 | $ 785 |
Basic earnings per share (in dollars per share) | [1] | $ 0.18 | $ 0.21 |
Diluted earnings per share (in dollars per share) | [1] | $ 0.18 | $ 0.20 |
Weighted Average Number of Shares Outstanding, Basic, Total | [1] | 6,450,326 | 3,811,409 |
Weighted Average Number of Shares Outstanding, Diluted, Total | [1] | 6,510,486 | 3,875,677 |
[1] | Significant assumptions utilized include the acquisition cost noted above, accretion of interest rate fair value adjustments and a 20% effective tax rate. |
Note 13 - Recent Accounting P_2
Note 13 - Recent Accounting Pronouncements (Details Textual) - Accounting Standards Update 2016-02 [Member] | Jan. 01, 2019USD ($) |
Operating Lease, Right-of-Use Asset | $ 2,461,000 |
Operating Lease, Liability, Total | $ 2,461,000 |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details Textual) - $ / shares | Apr. 23, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |
Common Stock, Shares Authorized | 8,000,000 | 8,000,000 | |
Subsequent Event [Member] | |||
Common Stock, Par or Stated Value Per Share | $ 0.01 | ||
Common Stock, Shares Authorized | 20,000,000 |