Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 06, 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) | 6,423,033 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
ASSETS: | ||
Cash and due from banks | $ 9,697 | $ 10,144 |
Interest bearing deposits in banks | 3,589 | 1,057 |
Total cash and cash equivalents | 13,286 | 11,201 |
Securities available-for-sale, at fair value | 136,383 | 142,165 |
Federal Home Loan Bank ("FHLB") stock | 4,167 | 5,011 |
Federal Reserve Bank ("FRB") stock | 2,526 | 2,033 |
Investment in Eagle Bancorp Statutory Trust I | 155 | 155 |
Mortgage loans held-for-sale, at fair value | 24,913 | 7,318 |
Loans receivable, net of deferred loan fees of $1,156 at September 30, 2019 and $1,098 at December 31, 2018 and allowance for loan losses of $8,200 at September 30, 2019 and $6,600 at December 31, 2018 | 745,369 | 610,333 |
Accrued interest and dividends receivable | 5,318 | 3,479 |
Mortgage servicing rights, net | 8,218 | 7,100 |
Premises and equipment, net | 38,628 | 29,343 |
Cash surrender value of life insurance, net | 23,460 | 20,545 |
Real estate and other repossessed assets acquired in settlement of loans, net | 91 | 107 |
Goodwill | 15,710 | 12,124 |
Core deposit intangible, net | 2,961 | 1,498 |
Deferred tax asset, net | 1,190 | |
Other assets | 1,036 | 301 |
Total assets | 1,022,221 | 853,903 |
LIABILITIES: | ||
Noninterest bearing | 199,086 | 142,788 |
Interest bearing | 590,375 | 483,823 |
Total deposits | 789,461 | 626,611 |
Accrued expenses and other liabilities | 10,266 | 5,388 |
Deferred tax liability, net | 420 | |
FHLB advances and other borrowings | 76,699 | 102,222 |
Other long-term debt: | ||
Principal amount | 25,155 | 25,155 |
Unamortized debt issuance costs | (230) | (279) |
Total other long-term debt, net | 24,925 | 24,876 |
Total liabilities | 901,771 | 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; 20,000,000 and 8,000,000 shares authorized; 6,714,983 and 5,718,942 shares issued; 6,403,693 and 5,477,652 shares outstanding at September 30, 2019 and December 31, 2018, respectively) | 67 | 57 |
Additional paid-in capital | 68,894 | 52,051 |
Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") | (352) | (477) |
Treasury stock, at cost | (3,850) | (2,640) |
Retained earnings | 53,664 | 46,926 |
Accumulated other comprehensive income (loss), net of tax | 2,027 | (1,111) |
Total shareholders' equity | 120,450 | 94,806 |
Total liabilities and shareholders' equity | $ 1,022,221 | $ 853,903 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Deferred loan fees | $ 1,156 | $ 1,098 |
Allowance for loan losses | $ 8,200 | $ 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) | 20,000,000 | 8,000,000 |
Common stock, shares issued (in shares) | 6,714,983 | 5,718,942 |
Common stock, shares outstanding (in shares) | 6,403,693 | 5,477,652 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
INTEREST AND DIVIDEND INCOME: | ||||
Interest and fees on loans | $ 10,731,000 | $ 7,701,000 | $ 31,378,000 | $ 22,435,000 |
Securities available-for-sale | 916,000 | 1,036,000 | 2,802,000 | 3,046,000 |
FHLB and FRB dividends | 107,000 | 80,000 | 297,000 | 233,000 |
Interest on deposits in banks | 19,000 | 5,000 | 50,000 | 40,000 |
Other interest income | 3,000 | 5,000 | 4,000 | |
Total interest and dividend income | 11,773,000 | 8,825,000 | 34,532,000 | 25,758,000 |
INTEREST EXPENSE: | ||||
Deposits | 1,022,000 | 534,000 | 2,733,000 | 1,454,000 |
FHLB advances and other borrowings | 692,000 | 453,000 | 1,942,000 | 1,105,000 |
Other long-term debt | 360,000 | 361,000 | 1,089,000 | 1,065,000 |
Total interest expense | 2,074,000 | 1,348,000 | 5,764,000 | 3,624,000 |
NET INTEREST INCOME | 9,699,000 | 7,477,000 | 28,768,000 | 22,134,000 |
Loan loss provision | 694,000 | 194,000 | 1,995,000 | 720,000 |
NET INTEREST INCOME AFTER LOAN LOSS PROVISION | 9,005,000 | 7,283,000 | 26,773,000 | 21,414,000 |
NONINTEREST INCOME: | ||||
Net gain on sale of loans | 5,492,000 | 2,290,000 | 11,451,000 | 5,449,000 |
Appreciation in cash surrender value of life insurance | 254,000 | 166,000 | 571,000 | 436,000 |
Net (loss) gain on sale of available-for-sale securities | (23,000) | 49,000 | (113,000) | |
Net loss on sale of real estate owned and other repossessed property | (18,000) | (57,000) | ||
Net gain on sale/disposal of premises and equipment | 438,000 | 9,000 | 438,000 | 9,000 |
Other noninterest income | 142,000 | 103,000 | 532,000 | 246,000 |
Total noninterest income | 8,420,000 | 3,465,000 | 17,617,000 | 8,618,000 |
NONINTEREST EXPENSE: | ||||
Salaries and employee benefits | 7,555,000 | 5,123,000 | 20,057,000 | 15,493,000 |
Occupancy and equipment expense | 1,152,000 | 880,000 | 3,229,000 | 2,543,000 |
Data processing | 933,000 | 866,000 | 2,715,000 | 2,176,000 |
Advertising | 320,000 | 295,000 | 800,000 | 871,000 |
Amortization | 254,000 | 182,000 | 761,000 | 519,000 |
Loan costs | 242,000 | 154,000 | 554,000 | 469,000 |
Federal insurance premiums | (36,000) | 65,000 | 79,000 | 203,000 |
Postage | 90,000 | 58,000 | 237,000 | 192,000 |
Legal, accounting and examination fees | 182,000 | 121,000 | 692,000 | 447,000 |
Consulting fees | 23,000 | 75,000 | 65,000 | |
Acquisition costs | 517,000 | 222,000 | 1,693,000 | 587,000 |
Other noninterest expense | 1,015,000 | 767,000 | 2,826,000 | 2,149,000 |
Total noninterest expense | 12,224,000 | 8,756,000 | 33,718,000 | 25,714,000 |
INCOME BEFORE PROVISION FOR INCOME TAXES | 5,201,000 | 1,992,000 | 10,672,000 | 4,318,000 |
Income tax provision | 1,096,000 | 360,000 | 2,137,000 | 780,000 |
NET INCOME | $ 4,105,000 | $ 1,632,000 | $ 8,535,000 | $ 3,538,000 |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 0.64 | $ 0.30 | $ 1.33 | $ 0.65 |
DILUTED EARNINGS PER SHARE (in dollars per share) | $ 0.63 | $ 0.30 | $ 1.32 | $ 0.65 |
BASIC WEIGHTED AVERAGE SHARES OUTSTANDING (in shares) | 6,403,693 | 5,460,452 | 6,420,711 | 5,411,356 |
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING (in shares) | 6,425,380 | 5,524,912 | 6,442,934 | 5,475,816 |
Deposit Account [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | $ 329,000 | $ 241,000 | $ 882,000 | $ 681,000 |
Bank Servicing [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | 1,390,000 | 279,000 | 2,477,000 | 792,000 |
Investment Advisory, Management and Administrative Service [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | 11,000 | 130,000 | 258,000 | 409,000 |
Debit Card [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | $ 364,000 | $ 270,000 | $ 977,000 | $ 766,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net income | $ 4,105 | $ 1,632 | $ 8,535 | $ 3,538 |
OTHER ITEMS OF COMPREHENSIVE INCOME (LOSS) BEFORE TAX: | ||||
Change in fair value of investment securities available-for-sale | 1,166 | (1,237) | 4,617 | (4,036) |
Reclassification for net realized losses (gains) on investment securities included in income | 23 | (49) | 113 | |
Change in fair value of loans held-for-sale | 234 | 296 | 898 | |
Reclassification for net realized gains on loans held-for-sale | (402) | (605) | (989) | |
Total other items of comprehensive income (loss) | 1,166 | (1,382) | 4,259 | (4,014) |
Income tax (provision) benefit related to: | ||||
Investment securities | (307) | 320 | (1,203) | 1,040 |
Loans held-for-sale | 44 | 82 | 24 | |
Total income tax (provision) benefit | (307) | 364 | (1,121) | 1,064 |
COMPREHENSIVE INCOME | $ 4,964 | $ 614 | $ 11,673 | $ 588 |
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 | 3,538 | 3,538 | ||||||
Other comprehensive income (loss) | (2,950) | (2,950) | ||||||
Dividends paid | (1,488) | (1,488) | ||||||
ESOP shares allocated | 121 | 125 | 246 | |||||
Stock issued in connection with acquisition | 4 | 9,026 | 9,030 | |||||
Balance at Sep. 30, 2018 | 57 | 51,927 | (518) | (2,826) | 45,989 | (2,637) | 91,992 | |
Balance at Jun. 30, 2018 | 57 | 51,890 | (559) | (2,826) | 44,862 | (1,619) | 91,805 | |
Net income | 1,632 | 1,632 | ||||||
Other comprehensive income (loss) | (1,018) | (1,018) | ||||||
Dividends paid | (505) | (505) | ||||||
ESOP shares allocated | 37 | 41 | 78 | |||||
Balance at Sep. 30, 2018 | 57 | 51,927 | (518) | (2,826) | 45,989 | (2,637) | 91,992 | |
Balance at Dec. 31, 2018 | 57 | 52,051 | (477) | (2,640) | 46,926 | (1,111) | 94,806 | |
Net income | 8,535 | 8,535 | ||||||
Other comprehensive income (loss) | 3,138 | 3,138 | ||||||
Dividends paid | (1,797) | (1,797) | ||||||
Stock compensation expense | 330 | 330 | ||||||
ESOP shares allocated | 88 | 125 | 213 | |||||
Stock issued in connection with acquisition | 10 | 16,425 | 16,435 | |||||
Treasury stock purchased | (1,210) | (1,210) | ||||||
Balance at Sep. 30, 2019 | 67 | 68,894 | (352) | (3,850) | 53,664 | 2,027 | 120,450 | |
Balance at Jun. 30, 2019 | 67 | 68,535 | (393) | (3,850) | 50,167 | 1,168 | 115,694 | |
Net income | 4,105 | 4,105 | ||||||
Other comprehensive income (loss) | 859 | 859 | ||||||
Dividends paid | (608) | (608) | ||||||
Stock compensation expense | 330 | 330 | ||||||
ESOP shares allocated | 29 | 41 | 70 | |||||
Balance at Sep. 30, 2019 | $ 67 | $ 68,894 | $ (352) | $ (3,850) | $ 53,664 | $ 2,027 | $ 120,450 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Unallocated ESOP Shares [Member] | ||||
ESOP shares allocated or committed to be released for allocation, shares (in shares) | 4,154,000 | 12,462,000 | ||
Dividends paid, per share (in dollars per share) | $ 0.095 | $ 0.0925 | ||
ESOP shares allocated or committed to be released for allocation, shares (in shares) | 4,154,000 | 12,462,000 | ||
Treasury stock purchased, shares (in shares) | 0 | 70,000,000 | ||
Treasury stock, average cost per share (in dollars per share) | $ 17.29 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 8,535 | $ 3,538 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Loan loss provision | 1,995 | 720 |
Depreciation | 1,308 | 923 |
Net amortization of investment securities premium and discounts | 704 | 950 |
Amortization of mortgage servicing rights | 1,113 | 906 |
Amortization of right of use assets | 354 | |
Amortization of core deposit intangible and tax credits | 761 | 519 |
Compensation expense related to restricted stock awards | 330 | |
ESOP compensation expense for allocated shares | 213 | 246 |
Deferred income tax provision | 417 | 516 |
Net gain on sale of loans | (11,451) | (5,449) |
Net (gain) loss on sale of available-for-sale securities | (49) | 113 |
Net loss on sale of real estate owned and other repossessed assets | 18 | 57 |
Net gain on sale/disposal of premises and equipment | (438) | (9) |
Net appreciation in cash surrender value of life insurance | (572) | (346) |
Net change in: | ||
Accrued interest and dividends receivable | (583) | (630) |
Loans held-for-sale | (6,454) | 5,560 |
Other assets | (571) | 258 |
Accrued expenses and other liabilities | 741 | 1,241 |
Net cash (used in) provided by operating activities | (3,629) | 9,113 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Sales | 53,257 | 46,058 |
Maturities, principal payments and calls | 9,998 | 8,763 |
Purchases | (51,464) | (45,970) |
FHLB stock redeemed (purchased) | 1,108 | (420) |
FRB stock purchased | (493) | (568) |
Net cash received (paid) for acquisitions | 6,901 | (4,243) |
Loan origination and principal collection, net | (50,189) | (29,828) |
Proceeds from bank owned life insurance | 519 | 205 |
Purchases of bank owned life insurance | (5,600) | |
Proceeds from sale of real estate and other repossessed assets acquired in settlement of loans | 352 | 150 |
Proceeds from sale of premises and equipment | 2,500 | 9 |
Purchases of premises and equipment | (8,389) | (5,960) |
Net cash used in investing activities | (35,900) | (37,404) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposits | 70,144 | 18,548 |
Net short-term (payments) advances on FHLB and other borrowings | (29,687) | 39,417 |
Long-term advances from FHLB and other borrowings | 33,000 | |
Payments on long-term FHLB and other borrowings | (28,836) | (26,655) |
Purchase of treasury stock | (1,210) | |
Dividends paid | (1,797) | (1,488) |
Net cash provided by financing activities | 41,614 | 29,822 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 2,085 | 1,531 |
CASH AND CASH EQUIVALENTS, beginning of period | 11,201 | 7,437 |
CASH AND CASH EQUIVALENTS, end of period | 13,286 | 8,968 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid during the period for interest | 5,245 | 3,523 |
Cash paid during the period for income taxes | 1,131 | 355 |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Increase (decrease) in market value of securities available-for-sale | 4,568 | (3,923) |
Mortgage servicing rights recognized | 2,231 | 1,275 |
Right of use assets obtained in exchange for lease liabilities | 2,374 | |
Loans transferred to real estate and other assets acquired in foreclosure | 131 | 4 |
Stock issued in connection with acquisitions | $ 16,435 | $ 9,030 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1. Eagle Bancorp Montana, Inc. (“Eagle” or the “Company”), is a Delaware corporation that holds 100% 1922 1975, October 2014 On September 5, 2017, 100% two On August 21, 2018, 100% January 1, 2019, four On August 8, 2019, fourth 2019. The Bank currently has 22 Principles of Consolidation The consolidated financial statements include Eagle, the Bank, Eagle Bancorp Statutory Trust I (the “Trust”) 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. Certain prior period amounts were reclassified to conform to the presentation for 2019 no The results of operations for the nine September 30, 2019 not December 31, 2019 The Company has evaluated events and transactions subsequent to September 30, 2019 |
Note 2 - Mergers and Acquisitio
Note 2 - Mergers and Acquisitions | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 2 . MERGERS AND ACQUISITIONS Effective January 1, 2019, August 21, 2018, four $16,436,000 $1,000 $16,435,000. On September 5, 2017, 100% two 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. 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. nine September 30, 2019 $1,163,000. $1,650,000 September 30, 2019 The total discount on TwinCo acquired loans was $1,834,000 January 31, 2018. nine September 30, 2019 $184,000. December 31, 2018 $589,000. $1,061,000 September 30, 2019 Four impaired loans were acquired through the BMB acquisition with a net balance of $556,000 January 1, 2019. September 30, 2019 $187,000. $1,188,000 January 31, 2018. September 30, 2019 $1,066,000. 4. 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 $5,000 June 30, 2019 $1,171,000 March 31, 2019 $804,000 December 31, 2018 $1,041,000, $365,000 December 31, 2018 Operations of BMB have been included in the consolidated financial statements since January 1, 2019. not not January 1, 2019 September 30, 2019 Operations of TwinCo have been included in the consolidated financial statements since February 1, 2018. not not February 1, 2018 September 30, 2019 The accompanying consolidated statements of income include the results of operations of the BMB acquired entity since the January 1, 2019 three nine September 30, 2018 January 1, 2018. not January 1, 2018. not three nine September 30, 2018. Three Months Ended Nine Months Ended September 30, 2018 September 30, 2018 (Dollars in Thousands, Except Per Share Data) Pro forma net income (1) Net interest income after loan loss provision $ 8,458 $ 24,940 Noninterest income 3,681 9,266 Noninterest expense 9,864 29,040 Income before provision for income taxes 2,275 5,166 Income tax provision 455 1,033 Net income $ 1,820 $ 4,133 Pro forma earnings per share (1) Basic earnings per share $ 0.33 $ 0.76 Diluted earnings per share $ 0.33 $ 0.75 Basic weighted average shares outstanding 5,460,452 5,411,356 Diluted weighted average shares outstanding 5,524,912 5,475,816 ( 1 20.00% |
Note 3 - Investment Securities
Note 3 - Investment Securities | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 . INVESTMENT SECURITIES Investment securities are summarized as follows: September 30, 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 $ 13,817 $ 312 $ - $ 14,129 $ 9,333 $ 58 $ (44 ) $ 9,347 Municipal obligations 51,253 2,103 (1 ) 53,355 69,024 244 (990 ) 68,278 Corporate obligations 11,385 43 (25 ) 11,403 11,411 8 (300 ) 11,119 Mortgage-backed securities 11,670 67 (50 ) 11,687 19,635 86 (373 ) 19,348 Collateralized mortgage obligations 35,340 572 (89 ) 35,823 24,229 6 (360 ) 23,875 Asset-backed securities 10,167 - (181 ) 9,986 10,350 6 (158 ) 10,198 Total $ 133,632 $ 3,097 $ (346 ) $ 136,383 $ 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 Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In Thousands) Proceeds from sale of available-for-sale securities $ - $ 978 $ 53,257 $ 46,058 Gross realized gain on sale of available-for-sale securities $ - $ - $ 549 $ 191 Gross realized loss on sale of available-for-sale securities - (23 ) (500 ) (304 ) Net realized gain (loss) on sale of available-for-sale securities $ - $ (23 ) $ 49 $ (113 ) The amortized cost and fair value of securities by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may September 30, 2019 Amortized Fair Cost Value (In Thousands) Due in one year or less $ 9,626 $ 9,640 Due from one to five years 13,036 13,108 Due from five to ten years 9,201 9,589 Due after ten years 54,759 56,536 86,622 88,873 Mortgage-backed securities 11,670 11,687 Collateralized mortgage obligations 35,340 35,823 Total $ 133,632 $ 136,383 Maturities of securities do not As of September 30, 2019 December 31, 2018 $19,180,000 $21,408,000, The Company’s investment securities that have been in a continuous unrealized loss position for less than twelve twelve September 30, 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 $ - $ - $ - $ - Municipal obligations 1,091 (1 ) - - Corporate obligations - - 2,975 (25 ) Mortgage-backed securities and collateralized mortgage obligations 10,017 (27 ) 8,382 (112 ) Asset-backed securities 4,837 (82 ) 5,149 (99 ) Total $ 15,945 $ (110 ) $ 16,506 $ (236 ) 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, primarily spreads related to U.S. treasuries, that are considered to be temporary and the Company does not intend to sell the securities, and it is not likely to be required to sell these securities prior to maturity. Based on the Company’s evaluation of these securities, no other-than-temporary impairment was recorded for the nine months ended September 30, 2019, or 2018. As of September 30, 2019 and December 31, 2018, there were, respectively, 22 and 108 securities in unrealized loss positions that were considered to be temporarily impaired and therefore an impairment charge has not been recorded. As of September 30, 2019 2 0.09% December 31, 2018 74 1.88% September 30, 2019 3 0.83% December 31, 2018 11 2.88% no As of September 30, 2019 12 0.75% December 31, 2018 19 2.54% not As of September 30, 2019 5 1.78% December 31, 2018 4 1.89% not |
Note 4 - Loans Receivable
Note 4 - Loans Receivable | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 . LOANS RECEIVABLE Loans receivable consisted of the following: September 30, December 31, 2019 2018 (In Thousands) Real estate loans: Residential 1-4 family $ 143,067 $ 144,107 Commercial real estate 416,157 328,438 Other loans: Home equity 56,537 52,159 Consumer 19,012 16,565 Commercial 119,952 76,762 Total 754,725 618,031 Deferred loan fees, net (1,156 ) (1,098 ) Allowance for loan losses (8,200 ) (6,600 ) Total loans, net $ 745,369 $ 610,333 Within the commercial real estate loan category, $11,969 ,000 $12,476,000 September 30, 2019 December 31, 2018 5,937,000 $2,575,000 September 30, 2019 December 31, 2018 $1,802,000 $1,303,000 September 30, 2019 December 31, 2018 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, July, 1 2019 $ 1,301 $ 4,276 $ 477 $ 224 $ 1,472 $ 7,750 Charge-offs - - - (44 ) (208 ) (252 ) Recoveries - 4 - 3 1 8 Provision - 380 - 44 270 694 Ending balance, September 30, 2019 $ 1,301 $ 4,660 $ 477 $ 227 $ 1,535 $ 8,200 Allowance for loan losses: Beginning balance, January 1, 2019 $ 1,301 $ 3,593 $ 477 $ 190 $ 1,039 $ 6,600 Charge-offs - (20 ) (75 ) (57 ) (305 ) (457 ) Recoveries - 13 - 18 31 62 Provision - 1,074 75 76 770 1,995 Ending balance, September 30, 2019 $ 1,301 $ 4,660 $ 477 $ 227 $ 1,535 $ 8,200 Ending balance, September 30, 2019 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, September 30, 2019 allocated to loans collectively evaluated for impairment $ 1,301 $ 4,660 $ 477 $ 227 $ 1,535 $ 8,200 Loans receivable: Ending balance, September 30, 2019 $ 143,067 $ 416,157 $ 56,537 $ 19,012 $ 119,952 $ 754,725 Ending balance, September 30, 2019 of loans individually evaluated for impairment $ 795 $ 1,370 $ 99 $ 142 $ 1,305 $ 3,711 Ending balance, September 30, 2019 of loans collectively evaluated for impairment $ 142,272 $ 414,787 $ 56,438 $ 18,870 $ 118,647 $ 751,014 Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, July, 1 2018 $ 1,301 $ 3,230 $ 427 $ 185 $ 1,007 $ 6,150 Charge-offs - - - (14 ) - (14 ) Recoveries - 7 - 12 1 20 Provision - 164 - - 30 194 Ending balance, September 30, 2018 $ 1,301 $ 3,401 $ 427 $ 183 $ 1,038 $ 6,350 Allowance for loan losses: Beginning balance, January 1, 2018 $ 1,301 $ 2,778 $ 506 $ 225 $ 940 $ 5,750 Charge-offs - - (80 ) (64 ) (24 ) (168 ) Recoveries - 14 1 22 11 48 Provision - 609 - - 111 720 Ending balance, September 30, 2018 $ 1,301 $ 3,401 $ 427 $ 183 $ 1,038 $ 6,350 Ending balance, September 30, 2018 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, September 30, 2018 allocated to loans collectively evaluated for impairment $ 1,301 $ 3,401 $ 427 $ 183 $ 1,038 $ 6,350 Loans receivable: Ending balance, September 30, 2018 $ 144,972 $ 303,660 $ 53,342 $ 16,491 $ 79,256 $ 597,721 Ending balance, September 30, 2018 of loans individually evaluated for impairment $ 564 $ 514 $ 228 $ 137 $ 113 $ 1,556 Ending balance, September 30, 2018 of loans collectively evaluated for impairment $ 144,408 $ 303,146 $ 53,114 $ 16,354 $ 79,143 $ 596,165 Internal classification of the loan portfolio was as follows: September 30, 2019 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 109,268 $ - $ 1,023 $ - $ - $ 110,291 Residential 1-4 family construction 32,439 - 337 - - 32,776 Commercial real estate 313,594 1,647 2,413 175 - 317,829 Commercial construction and development 51,647 - - - - 51,647 Farmland 46,342 109 172 58 - 46,681 Other loans: Home equity 56,438 - 99 - - 56,537 Consumer 18,832 - 180 - - 19,012 Commercial 71,848 378 770 63 - 73,059 Agricultural 45,706 138 570 479 - 46,893 Total $ 746,114 $ 2,272 $ 5,564 $ 775 $ - $ 754,725 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 The following tables include information regarding delinquencies within the loan portfolio. September 30, 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 $ 264 $ - $ 264 $ 458 $ 109,569 $ 110,291 Residential 1-4 family construction - - - 337 32,439 32,776 Commercial real estate 838 - 838 894 316,097 317,829 Commercial construction and development 191 - 191 - 51,456 51,647 Farmland 243 - 243 476 45,962 46,681 Other loans: Home equity 467 - 467 99 55,971 56,537 Consumer 121 - 121 142 18,749 19,012 Commercial 346 - 346 794 71,919 73,059 Agricultural 20 - 20 511 46,362 46,893 Total $ 2,490 $ - $ 2,490 $ 3,711 $ 748,524 $ 754,725 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. September 30, 2019 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) Real estate loans: Residential 1-4 family $ 458 $ 494 $ - Residential 1-4 family construction 337 387 - Commercial real estate 894 1,059 - Commercial construction and development - - - Farmland 476 513 - Other loans: Home equity 99 115 - Consumer 142 154 - Commercial 794 915 - Agricultural 511 768 - Total $ 3,711 $ 4,405 $ - 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 Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Average Recorded Investment (In Thousands) Real estate loans: Residential 1-4 family $ 401 $ 232 $ 355 $ 351 Residential 1-4 family construction 337 337 486 169 Commercial real estate 787 521 663 257 Commercial construction and development - - 7 - Farmland 476 - 238 - Other loans: - Home equity 149 217 295 235 Consumer 137 119 134 145 Commercial 768 102 551 110 Agricultural 615 - 272 - Total $ 3,670 $ 1,528 $ 3,001 $ 1,267 Interest income recognized on impaired loans for the three nine September 30, 2019 2018 |
Note 5 - Troubled Debt Restruct
Note 5 - Troubled Debt Restructurings | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Troubled Debt Restructurings [Text Block] | NOTE 5 . TROUBLE D DEBT RESTRUCTURINGS A 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 $20,000 September 30, 2019 $22,000 December 31, 2018 There were no September 30, 2019 12 90 As of September 30, 2019 no |
Note 6 - Mortgage Servicing Rig
Note 6 - Mortgage Servicing Rights | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Transfers and Servicing of Financial Assets [Text Block] | NOTE 6 . MORTGAGE SERVICING RIGHTS The Company is servicing mortgage loans for the benefit of others totaling $ 1,112,454,000 $964,967,000 September 30, 2019 December 31, 2018 671,000 575,000 three September 30, 2019 2018 1,918,000 1,698,000 nine September 30, 2019 2018 Custodial balances maintained in connection with the foregoing loan servicing, and included in noninterest checking deposits, were $11,971,000 $5,618,000 The following tables are a summary of activity in mortgage servicing rights: As of or For the Three Months Ended September 30, 2019 2018 (In Thousands) Mortgage servicing rights: Beginning balance $ 7,666 $ 6,716 Mortgage servicing rights capitalized 1,030 527 Amortization of mortgage servicing rights (478 ) (296 ) Ending balance $ 8,218 $ 6,947 As of or For the Nine Months Ended September 30, 2019 2018 (In Thousands) Mortgage servicing rights: Beginning balance $ 7,100 $ 6,578 Mortgage servicing rights capitalized 2,231 1,275 Amortization of mortgage servicing rights (1,113 ) (906 ) Ending balance $ 8,218 $ 6,947 The fair values of these rights were $ 8,924,000 $8,700,000 September 30, 2019 December 31, 2018 12.00 110.00 258.00 September 30, 2019 83.00% 226.00% December 31, 2018 176.00 119.00% September 30, 2019 December 31, 2018 |
Note 7 - Deposits
Note 7 - Deposits | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 7 . DEPOSITS Deposits are summarized as follows: September 30, December 31, 2019 2018 (In Thousands) Noninterest checking $ 199,086 $ 142,788 Interest bearing checking 111,215 105,115 Savings 124,587 108,234 Money market 124,764 108,050 Time certificates of deposit 229,809 162,424 Total $ 789,461 $ 626,611 Time certificates of deposits include $10,180,000 $0 September 30, 2019 December 31, 2018, $16,000,000 $0 September 30, 2019 December 31, 2018, |
Note 8 - Other Long-term Debt
Note 8 - Other Long-term Debt | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 8 . OTHER L ONG-TERM DEBT Other long-term debt consisted of the following: September 30, 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 $ (103 ) $ 10,000 $ (136 ) Subordinated debentures fixed at 6.75%, due 2025 10,000 (127 ) 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 $ (230 ) $ 25,155 $ (279 ) In February 2017, $10,000,000 5.75% 2022. not In June 2015, $10,000,000 2025 6.75% June 19, 2020. In September 2005, $5,155,000 $5,155,000. December 2005. 6.02% December 2010 3 1.42%, 3.505% 4.228% September 30, 2019 December 31, 2018 may five December 2035 For the three September 30, 2019 2018 $360,000 $361,000, nine September 30, 2019 2018 $1,089,000 $1,065,000, |
Note 9 - Earnings Per Share
Note 9 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 9 . EARNINGS PER SHARE Basic earnings per share for the three September 30, 2019 6,403,693 three September 30, 2018 5,460,452 6,425,380 three September 30, 2019 5,524,912 three September 30, 2018 no three September 30, 2019 2018 Basic earnings per share for the nine September 30, 2019 6,420,711 nine September 30, 2018 5,411,356 6,442,934 nine September 30, 2019 5,475,816 nine September 30, 2018 no nine September 30, 2019 2018 |
Note 10 - Dividends and Stock R
Note 10 - Dividends and Stock Repurchase Program | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 10 . 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. $0.095 July 18, 2019 September 6, 2019 August 16, 2019. $0.095 October 17, 2019, December 6, 2019 November 15, 2019. On July 18, 2019, 100,000 may No three September 30, 2019. July 18, 2020. On July 19, 2018, 100,000 No December 31, 2018 first 2019 42,000 $17.43 28,000 second 2019 $17.09 July 19, 2019. On July 20, 2017, 100,000 No July 20, 2018. |
Note 11 - Accumulated Other Com
Note 11 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 1 1 . 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 (In Thousands) Balance, January 1, 2019 $ 227 $ (1,338 ) $ (1,111 ) Other comprehensive income, before reclassifications and income taxes 296 3,451 3,747 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (605 ) (49 ) (654 ) Income tax benefit (provision) 82 (896 ) (814 ) Total other comprehensive (loss) income (227 ) 2,506 2,279 Balance, June 30, 2019 - 1,168 1,168 Other comprehensive income, before reclassifications and income taxes - 1,166 1,166 Amounts reclassified from accumulated other comprehensive income, before income taxes - - - Income tax provision - (307 ) (307 ) Total other comprehensive income - 859 859 Balance, September 30, 2019 $ - $ 2,027 $ 2,027 Balance, January 1, 2018 $ 234 $ 79 $ 313 Other comprehensive income (loss), before reclassifications and income taxes 664 (2,799 ) (2,135 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (587 ) 90 (497 ) Income tax (provision) benefit (20 ) 720 700 Total other comprehensive income (loss) 57 (1,989 ) (1,932 ) Balance, June 30, 2018 291 (1,910 ) (1,619 ) Other comprehensive income (loss), before reclassifications and income taxes 234 (1,237 ) (1,003 ) Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (402 ) 23 (379 ) Income tax benefit 44 320 364 Total other comprehensive loss (124 ) (894 ) (1,018 ) Balance, September 30, 2018 $ 167 $ (2,804 ) $ (2,637 ) |
Note 12 - Derivatives and Hedgi
Note 12 - Derivatives and Hedging Activities | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 1 2 . DERIVATIVES AND HEDGING ACTIVITIES The company enters into mandatory and best efforts interest rate lock commitments to finance mortgage loans. Outstanding 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. The Company also enters into forward To-Be-Announced ("TBA") mortgage-backed securities to hedge against price or interest rate movements on loan commitments. These forward TBA mortgage-backed securities are accounted for as free-standing or economic derivatives and are measured at fair value. The derivatives are recorded as either other assets or other liabilities on the consolidated statements of condition and the changes in the fair value of the derivatives are recorded in noninterest income on the consolidated statements of income. A net gain of $1,393,000 three September 30, 2019 $864,000 nine September 30, 2019 Derivatives are summarized as follows: September 30, 2019 December 31, 2018 Notional Fair Value Notional Fair Value Amount Asset Liability Amount Asset Liability (In Thousands) Interest rate lock commitments $ 70,490 $ 812 $ - $ 18,745 $ - $ - Forward TBA mortgage-backed securities 77,000 52 - 16,000 - - |
Note 13 - Fair Value Disclosure
Note 13 - Fair Value Disclosures | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | NOTE 1 3 . FAIR VALUE DISCLOSURES Assets and liabilities that are measured at fair value are grouped in three The levels are as follows: Level 1 – Level 2 – not Level 3 – may 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. Available-for-Sale Securities 1 2 may Loans Held-for-Sale 2 Derivative Instruments 3 2 Impaired Loans 3 Real Estate and Other 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. September 30, 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 $ - $ 14,129 $ - $ 14,129 Municipal obligations - 53,355 - 53,355 Corporate obligations - 11,403 - 11,403 Mortgage-backed securities - 11,687 - 11,687 Collateralized mortgage obligations - 35,823 - 35,823 Asset-backed securities - 9,986 - 9,986 Loans held-for-sale - 24,913 - 24,913 Interest rate lock commitments - - 812 812 Forward TBA mortgage-backed securities - 52 - 52 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 Interest rate lock commitments - - - - Forward TBA mortgage-backed securities - - - - Certain financial assets may The following table summarizes financial assets measured at fair value on a nonrecurring basis for which a nonrecurring change in fair value has been recorded during the reporting periods presented: September 30, 2019 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Real estate and other repossessed assets $ - $ - $ - $ - December 31, 2018 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Real estate and other repossessed assets $ - $ - $ 107 $ 107 As of September 30, 2019 $3,711,000 not lue of $3,711,000. As of December 31, 2018 $2,290,000 not $2,290,000. The following table represents the Banks’s Level 3 Fair Value at Principal Significant Range of September 30, December 31, Valuation Unobservable Signficant Input Instrument 2019 2018 Technique Inputs Values (Dollars In Thousands) Real estate and other repossessed assets $ - $ 107 Appraisal of collateral Liquidation expenses 10-30% The tables below summarize the estimated fair values of financial instruments of the Company at September 30, 2019 December 31, 2018 not September 30, 2019 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 13,286 $ - $ - $ 13,286 $ 13,286 FHLB stock 4,167 - - 4,167 4,167 FRB stock 2,526 - - 2,526 2,526 Loans receivable, net - - 747,382 747,382 745,369 Accrued interest and dividends receivable 5,318 - - 5,318 5,318 Mortgage servicing rights - - 8,924 8,924 8,218 Financial liabilities: Non-maturing interest bearing deposits - 360,566 - 360,566 360,566 Noninterest bearing deposits 199,086 - - 199,086 199,086 Time certificates of deposit - - 229,648 229,648 229,809 Accrued expenses and other liabilities 10,266 - - 10,266 10,266 FHLB advances and other borrowings - - 76,799 76,799 76,699 Other long-term debt - - 24,828 24,828 25,155 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 FHLB stock 5,011 - - 5,011 5,011 FRB 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 FHLB advances and other borrowings - - 101,885 101,885 102,222 Other long-term debt - - 24,002 24,002 25,155 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 HLB of Des Moines and F RB 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% 110.00% 258.00% 176.00% Deposits and Time C ertificates of D eposit no Advances from the FHLB /Other Borrowings and Other Long-Term Deb t September 30, 2019 December 31, 2018 |
Note 14 - Recent Accounting Pro
Note 14 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 1 4 . RECENT ACCOUNTING PRONOUNCEMENTS In February 2016, No. 2016 02, 842 12 December 15, 2018, first 2019 not six one 2028. January 1, 2019, $ 2,374,000 In September 2016, No. 2016 13, 326 In October 2019, December 15, 2022, first The Company believes the amendments in this update will have an impact on the Company’s consolidated financial statements and is continuing to evaluate the significance of that impact, even though the adoption date has been deferred. 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 2 - Mergers and Acquisit_2
Note 2 - Mergers and Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 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 Nine Months Ended September 30, 2018 September 30, 2018 (Dollars in Thousands, Except Per Share Data) Pro forma net income (1) Net interest income after loan loss provision $ 8,458 $ 24,940 Noninterest income 3,681 9,266 Noninterest expense 9,864 29,040 Income before provision for income taxes 2,275 5,166 Income tax provision 455 1,033 Net income $ 1,820 $ 4,133 Pro forma earnings per share (1) Basic earnings per share $ 0.33 $ 0.76 Diluted earnings per share $ 0.33 $ 0.75 Basic weighted average shares outstanding 5,460,452 5,411,356 Diluted weighted average shares outstanding 5,524,912 5,475,816 |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Marketable Securities [Table Text Block] | September 30, 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 $ 13,817 $ 312 $ - $ 14,129 $ 9,333 $ 58 $ (44 ) $ 9,347 Municipal obligations 51,253 2,103 (1 ) 53,355 69,024 244 (990 ) 68,278 Corporate obligations 11,385 43 (25 ) 11,403 11,411 8 (300 ) 11,119 Mortgage-backed securities 11,670 67 (50 ) 11,687 19,635 86 (373 ) 19,348 Collateralized mortgage obligations 35,340 572 (89 ) 35,823 24,229 6 (360 ) 23,875 Asset-backed securities 10,167 - (181 ) 9,986 10,350 6 (158 ) 10,198 Total $ 133,632 $ 3,097 $ (346 ) $ 136,383 $ 143,982 $ 408 $ (2,225 ) $ 142,165 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In Thousands) Proceeds from sale of available-for-sale securities $ - $ 978 $ 53,257 $ 46,058 Gross realized gain on sale of available-for-sale securities $ - $ - $ 549 $ 191 Gross realized loss on sale of available-for-sale securities - (23 ) (500 ) (304 ) Net realized gain (loss) on sale of available-for-sale securities $ - $ (23 ) $ 49 $ (113 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2019 Amortized Fair Cost Value (In Thousands) Due in one year or less $ 9,626 $ 9,640 Due from one to five years 13,036 13,108 Due from five to ten years 9,201 9,589 Due after ten years 54,759 56,536 86,622 88,873 Mortgage-backed securities 11,670 11,687 Collateralized mortgage obligations 35,340 35,823 Total $ 133,632 $ 136,383 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 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 $ - $ - $ - $ - Municipal obligations 1,091 (1 ) - - Corporate obligations - - 2,975 (25 ) Mortgage-backed securities and collateralized mortgage obligations 10,017 (27 ) 8,382 (112 ) Asset-backed securities 4,837 (82 ) 5,149 (99 ) Total $ 15,945 $ (110 ) $ 16,506 $ (236 ) 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 4 - Loans Receivable (Tabl
Note 4 - Loans Receivable (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2019 2018 (In Thousands) Real estate loans: Residential 1-4 family $ 143,067 $ 144,107 Commercial real estate 416,157 328,438 Other loans: Home equity 56,537 52,159 Consumer 19,012 16,565 Commercial 119,952 76,762 Total 754,725 618,031 Deferred loan fees, net (1,156 ) (1,098 ) Allowance for loan losses (8,200 ) (6,600 ) Total loans, net $ 745,369 $ 610,333 |
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, July, 1 2019 $ 1,301 $ 4,276 $ 477 $ 224 $ 1,472 $ 7,750 Charge-offs - - - (44 ) (208 ) (252 ) Recoveries - 4 - 3 1 8 Provision - 380 - 44 270 694 Ending balance, September 30, 2019 $ 1,301 $ 4,660 $ 477 $ 227 $ 1,535 $ 8,200 Allowance for loan losses: Beginning balance, January 1, 2019 $ 1,301 $ 3,593 $ 477 $ 190 $ 1,039 $ 6,600 Charge-offs - (20 ) (75 ) (57 ) (305 ) (457 ) Recoveries - 13 - 18 31 62 Provision - 1,074 75 76 770 1,995 Ending balance, September 30, 2019 $ 1,301 $ 4,660 $ 477 $ 227 $ 1,535 $ 8,200 Ending balance, September 30, 2019 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, September 30, 2019 allocated to loans collectively evaluated for impairment $ 1,301 $ 4,660 $ 477 $ 227 $ 1,535 $ 8,200 Loans receivable: Ending balance, September 30, 2019 $ 143,067 $ 416,157 $ 56,537 $ 19,012 $ 119,952 $ 754,725 Ending balance, September 30, 2019 of loans individually evaluated for impairment $ 795 $ 1,370 $ 99 $ 142 $ 1,305 $ 3,711 Ending balance, September 30, 2019 of loans collectively evaluated for impairment $ 142,272 $ 414,787 $ 56,438 $ 18,870 $ 118,647 $ 751,014 Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, July, 1 2018 $ 1,301 $ 3,230 $ 427 $ 185 $ 1,007 $ 6,150 Charge-offs - - - (14 ) - (14 ) Recoveries - 7 - 12 1 20 Provision - 164 - - 30 194 Ending balance, September 30, 2018 $ 1,301 $ 3,401 $ 427 $ 183 $ 1,038 $ 6,350 Allowance for loan losses: Beginning balance, January 1, 2018 $ 1,301 $ 2,778 $ 506 $ 225 $ 940 $ 5,750 Charge-offs - - (80 ) (64 ) (24 ) (168 ) Recoveries - 14 1 22 11 48 Provision - 609 - - 111 720 Ending balance, September 30, 2018 $ 1,301 $ 3,401 $ 427 $ 183 $ 1,038 $ 6,350 Ending balance, September 30, 2018 allocated to loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, September 30, 2018 allocated to loans collectively evaluated for impairment $ 1,301 $ 3,401 $ 427 $ 183 $ 1,038 $ 6,350 Loans receivable: Ending balance, September 30, 2018 $ 144,972 $ 303,660 $ 53,342 $ 16,491 $ 79,256 $ 597,721 Ending balance, September 30, 2018 of loans individually evaluated for impairment $ 564 $ 514 $ 228 $ 137 $ 113 $ 1,556 Ending balance, September 30, 2018 of loans collectively evaluated for impairment $ 144,408 $ 303,146 $ 53,114 $ 16,354 $ 79,143 $ 596,165 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2019 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 109,268 $ - $ 1,023 $ - $ - $ 110,291 Residential 1-4 family construction 32,439 - 337 - - 32,776 Commercial real estate 313,594 1,647 2,413 175 - 317,829 Commercial construction and development 51,647 - - - - 51,647 Farmland 46,342 109 172 58 - 46,681 Other loans: Home equity 56,438 - 99 - - 56,537 Consumer 18,832 - 180 - - 19,012 Commercial 71,848 378 770 63 - 73,059 Agricultural 45,706 138 570 479 - 46,893 Total $ 746,114 $ 2,272 $ 5,564 $ 775 $ - $ 754,725 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 |
Financing Receivable, Past Due [Table Text Block] | September 30, 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 $ 264 $ - $ 264 $ 458 $ 109,569 $ 110,291 Residential 1-4 family construction - - - 337 32,439 32,776 Commercial real estate 838 - 838 894 316,097 317,829 Commercial construction and development 191 - 191 - 51,456 51,647 Farmland 243 - 243 476 45,962 46,681 Other loans: Home equity 467 - 467 99 55,971 56,537 Consumer 121 - 121 142 18,749 19,012 Commercial 346 - 346 794 71,919 73,059 Agricultural 20 - 20 511 46,362 46,893 Total $ 2,490 $ - $ 2,490 $ 3,711 $ 748,524 $ 754,725 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] | September 30, 2019 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) Real estate loans: Residential 1-4 family $ 458 $ 494 $ - Residential 1-4 family construction 337 387 - Commercial real estate 894 1,059 - Commercial construction and development - - - Farmland 476 513 - Other loans: Home equity 99 115 - Consumer 142 154 - Commercial 794 915 - Agricultural 511 768 - Total $ 3,711 $ 4,405 $ - 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 Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Average Recorded Investment (In Thousands) Real estate loans: Residential 1-4 family $ 401 $ 232 $ 355 $ 351 Residential 1-4 family construction 337 337 486 169 Commercial real estate 787 521 663 257 Commercial construction and development - - 7 - Farmland 476 - 238 - Other loans: - Home equity 149 217 295 235 Consumer 137 119 134 145 Commercial 768 102 551 110 Agricultural 615 - 272 - Total $ 3,670 $ 1,528 $ 3,001 $ 1,267 |
Note 6 - Mortgage Servicing R_2
Note 6 - Mortgage Servicing Rights (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Activities in Mortgage Servicing Rights [Table Text Block] | As of or For the Three Months Ended September 30, 2019 2018 (In Thousands) Mortgage servicing rights: Beginning balance $ 7,666 $ 6,716 Mortgage servicing rights capitalized 1,030 527 Amortization of mortgage servicing rights (478 ) (296 ) Ending balance $ 8,218 $ 6,947 As of or For the Nine Months Ended September 30, 2019 2018 (In Thousands) Mortgage servicing rights: Beginning balance $ 7,100 $ 6,578 Mortgage servicing rights capitalized 2,231 1,275 Amortization of mortgage servicing rights (1,113 ) (906 ) Ending balance $ 8,218 $ 6,947 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | September 30, December 31, 2019 2018 (In Thousands) Noninterest checking $ 199,086 $ 142,788 Interest bearing checking 111,215 105,115 Savings 124,587 108,234 Money market 124,764 108,050 Time certificates of deposit 229,809 162,424 Total $ 789,461 $ 626,611 |
Note 8 - Other Long-term Debt (
Note 8 - Other Long-term Debt (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | September 30, 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 $ (103 ) $ 10,000 $ (136 ) Subordinated debentures fixed at 6.75%, due 2025 10,000 (127 ) 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 $ (230 ) $ 25,155 $ (279 ) |
Note 11 - Accumulated Other C_2
Note 11 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 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 (In Thousands) Balance, January 1, 2019 $ 227 $ (1,338 ) $ (1,111 ) Other comprehensive income, before reclassifications and income taxes 296 3,451 3,747 Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (605 ) (49 ) (654 ) Income tax benefit (provision) 82 (896 ) (814 ) Total other comprehensive (loss) income (227 ) 2,506 2,279 Balance, June 30, 2019 - 1,168 1,168 Other comprehensive income, before reclassifications and income taxes - 1,166 1,166 Amounts reclassified from accumulated other comprehensive income, before income taxes - - - Income tax provision - (307 ) (307 ) Total other comprehensive income - 859 859 Balance, September 30, 2019 $ - $ 2,027 $ 2,027 Balance, January 1, 2018 $ 234 $ 79 $ 313 Other comprehensive income (loss), before reclassifications and income taxes 664 (2,799 ) (2,135 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (587 ) 90 (497 ) Income tax (provision) benefit (20 ) 720 700 Total other comprehensive income (loss) 57 (1,989 ) (1,932 ) Balance, June 30, 2018 291 (1,910 ) (1,619 ) Other comprehensive income (loss), before reclassifications and income taxes 234 (1,237 ) (1,003 ) Amounts reclassified from accumulated other comprehensive income (loss), before income taxes (402 ) 23 (379 ) Income tax benefit 44 320 364 Total other comprehensive loss (124 ) (894 ) (1,018 ) Balance, September 30, 2018 $ 167 $ (2,804 ) $ (2,637 ) |
Note 12 - Derivatives and Hed_2
Note 12 - Derivatives and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | September 30, 2019 December 31, 2018 Notional Fair Value Notional Fair Value Amount Asset Liability Amount Asset Liability (In Thousands) Interest rate lock commitments $ 70,490 $ 812 $ - $ 18,745 $ - $ - Forward TBA mortgage-backed securities 77,000 52 - 16,000 - - |
Note 13 - Fair Value Disclosu_2
Note 13 - Fair Value Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | September 30, 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 $ - $ 14,129 $ - $ 14,129 Municipal obligations - 53,355 - 53,355 Corporate obligations - 11,403 - 11,403 Mortgage-backed securities - 11,687 - 11,687 Collateralized mortgage obligations - 35,823 - 35,823 Asset-backed securities - 9,986 - 9,986 Loans held-for-sale - 24,913 - 24,913 Interest rate lock commitments - - 812 812 Forward TBA mortgage-backed securities - 52 - 52 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 Interest rate lock commitments - - - - Forward TBA mortgage-backed securities - - - - |
Fair Value Measurements, Nonrecurring [Table Text Block] | September 30, 2019 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Real estate and other repossessed assets $ - $ - $ - $ - December 31, 2018 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Real estate and other repossessed assets $ - $ - $ 107 $ 107 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Fair Value at Principal Significant Range of September 30, December 31, Valuation Unobservable Signficant Input Instrument 2019 2018 Technique Inputs Values (Dollars In Thousands) Real estate and other repossessed assets $ - $ 107 Appraisal of collateral Liquidation expenses 10-30% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2019 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 13,286 $ - $ - $ 13,286 $ 13,286 FHLB stock 4,167 - - 4,167 4,167 FRB stock 2,526 - - 2,526 2,526 Loans receivable, net - - 747,382 747,382 745,369 Accrued interest and dividends receivable 5,318 - - 5,318 5,318 Mortgage servicing rights - - 8,924 8,924 8,218 Financial liabilities: Non-maturing interest bearing deposits - 360,566 - 360,566 360,566 Noninterest bearing deposits 199,086 - - 199,086 199,086 Time certificates of deposit - - 229,648 229,648 229,809 Accrued expenses and other liabilities 10,266 - - 10,266 10,266 FHLB advances and other borrowings - - 76,799 76,799 76,699 Other long-term debt - - 24,828 24,828 25,155 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 FHLB stock 5,011 - - 5,011 5,011 FRB 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 FHLB advances and other borrowings - - 101,885 101,885 102,222 Other long-term debt - - 24,002 24,002 25,155 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) | Sep. 30, 2019 | Jan. 01, 2019 | Jan. 31, 2018 |
TwinCo Acquisition [Member] | |||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||
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 - Mergers and Acquisit_3
Note 2 - Mergers and Acquisitions (Details Textual) | Jan. 01, 2019USD ($) | Jan. 31, 2018USD ($) | Jan. 01, 2018USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 2,961,000 | $ 2,961,000 | $ 1,498,000 | |||||||
Business Combination, Acquisition Related Costs | 517,000 | $ 222,000 | $ 1,693,000 | $ 587,000 | ||||||
Core Deposits [Member] | ||||||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||||||||
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 | 1,650,000 | $ 1,650,000 | |||||||
Business Combination, Accretion of Loan Discount | 1,163,000 | |||||||||
Business Acquisition, Impairment Loans | $ 556,000 | $ 187,000 | ||||||||
Business Combination, Acquisition Related Costs | $ 5,000 | $ 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 | $ 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 | 1,061,000 | 1,061,000 | |||||||
Business Combination, Accretion of Loan Discount | 184,000 | 589,000 | ||||||||
Business Acquisition, Impairment Loans | $ 1,188,000 | 1,066,000 | ||||||||
Business Combination, Acquisition Related Costs | $ 1,041,000 | $ 365,000 | ||||||||
TwinCo Acquisition [Member] | Core Deposits [Member] | ||||||||||
Finite-Lived Intangible Assets, Net, Ending Balance | $ 1,609,000 | $ 1,609,000 | ||||||||
SBOT [Member] | Townsend, Dutton, Denton and Choteau, Montana [Member] | ||||||||||
Number of Bank Branches | 4 | |||||||||
Ruby Valley Bank [Member] | Madison County, Montana [Member] | ||||||||||
Number of Bank Branches | 2 |
Note 2 - Mergers and Acquisit_4
Note 2 - Mergers and Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) | Jan. 01, 2019 | Jan. 31, 2018 | Sep. 30, 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 2 - Mergers and Acquisit_5
Note 2 - 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 2 - Mergers and Acquisit_6
Note 2 - Mergers and Acquisitions - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Net interest income after loan loss provision | $ 9,005 | $ 7,283 | $ 26,773 | $ 21,414 | |
Noninterest income | 8,420 | 3,465 | 17,617 | 8,618 | |
Noninterest expense | 12,224 | 8,756 | 33,718 | 25,714 | |
Income before provision for income taxes | 5,201 | 1,992 | 10,672 | 4,318 | |
Income tax provision | 1,096 | 360 | 2,137 | 780 | |
Net income | $ 4,105 | $ 1,632 | $ 8,535 | $ 3,538 | |
Basic earnings per share (in dollars per share) | $ 0.64 | $ 0.30 | $ 1.33 | $ 0.65 | |
Diluted earnings per share (in dollars per share) | $ 0.63 | $ 0.30 | $ 1.32 | $ 0.65 | |
Weighted Average Number of Shares Outstanding, Basic, Total | 6,403,693 | 5,460,452 | 6,420,711 | 5,411,356 | |
Weighted Average Number of Shares Outstanding, Diluted, Total | 6,425,380 | 5,524,912 | 6,442,934 | 5,475,816 | |
Big Muddy Bancorp Acquisition [Member] | Pro Forma [Member] | |||||
Net interest income after loan loss provision | [1] | $ 8,458 | $ 24,940 | ||
Noninterest income | [1] | 3,681 | 9,266 | ||
Noninterest expense | [1] | 9,864 | 29,040 | ||
Income before provision for income taxes | [1] | 2,275 | 5,166 | ||
Income tax provision | [1] | 455 | 1,033 | ||
Net income | [1] | $ 1,820 | $ 4,133 | ||
Basic earnings per share (in dollars per share) | [1] | $ 0.33 | $ 0.76 | ||
Diluted earnings per share (in dollars per share) | [1] | $ 0.33 | $ 0.75 | ||
Weighted Average Number of Shares Outstanding, Basic, Total | [1] | 5,460,452 | 5,411,356 | ||
Weighted Average Number of Shares Outstanding, Diluted, Total | [1] | 5,524,912 | 5,475,816 | ||
[1] | Significant assumptions utilized include the acquisition cost noted above and a 20.00% effective tax rate. |
Note 3 - Investment Securitie_2
Note 3 - Investment Securities (Details Textual) - USD ($) | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Pledged Financial Instruments, Not Separately Reported, Securities, Total | $ 19,180,000 | $ 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 | 22 | 108 | |
US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 2 | 74 | |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 0.09% | 1.88% | |
Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 3 | 11 | |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 0.83% | 2.88% | |
Mortgage-backed Securities and Collateralized Mortgage Obligations [Member] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 12 | 19 | |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 0.75% | 2.54% | |
Expected Credit Loss on Securities | $ 0 | ||
Asset-backed Securities [Member] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 5 | 4 | |
Debt Securities, Available for Sale, Continuous Unrealized Loss Position, Aggregate Depreciation from Amortized Cost Basis | 1.78% | 1.89% | |
Expected Credit Loss on Securities | $ 0 |
Note 3 - Investment Securitie_3
Note 3 - Investment Securities - Summary of Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securities available-for-sale, amortized cost | $ 133,632 | $ 143,982 |
Securities available-for-sale, gross unrealized gains | 3,097 | 408 |
Securities available-for-sale, gross unrealized losses | (346) | (2,225) |
Securities available-for-sale, at fair value | 136,383 | 142,165 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 13,817 | 9,333 |
Securities available-for-sale, gross unrealized gains | 312 | 58 |
Securities available-for-sale, gross unrealized losses | (44) | |
Securities available-for-sale, at fair value | 14,129 | 9,347 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 51,253 | 69,024 |
Securities available-for-sale, gross unrealized gains | 2,103 | 244 |
Securities available-for-sale, gross unrealized losses | (1) | (990) |
Securities available-for-sale, at fair value | 53,355 | 68,278 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 11,385 | 11,411 |
Securities available-for-sale, gross unrealized gains | 43 | 8 |
Securities available-for-sale, gross unrealized losses | (25) | (300) |
Securities available-for-sale, at fair value | 11,403 | 11,119 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale, amortized cost | 11,670 | 19,635 |
Securities available-for-sale, gross unrealized gains | 67 | 86 |
Securities available-for-sale, gross unrealized losses | (50) | (373) |
Securities available-for-sale, at fair value | 11,687 | 19,348 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale, amortized cost | 35,340 | 24,229 |
Securities available-for-sale, gross unrealized gains | 572 | 6 |
Securities available-for-sale, gross unrealized losses | (89) | (360) |
Securities available-for-sale, at fair value | 35,823 | 23,875 |
Asset-backed Securities [Member] | ||
Securities available-for-sale, amortized cost | 10,167 | 10,350 |
Securities available-for-sale, gross unrealized gains | 6 | |
Securities available-for-sale, gross unrealized losses | (181) | (158) |
Securities available-for-sale, at fair value | $ 9,986 | $ 10,198 |
Note 3 - Investment Securitie_4
Note 3 - 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 | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Proceeds from sale of available-for-sale securities | $ 978 | $ 53,257 | $ 46,058 | |
Gross realized gain on sale of available-for-sale securities | 549 | 191 | ||
Gross realized loss on sale of available-for-sale securities | (23) | (500) | (304) | |
Net realized gain (loss) on sale of available-for-sale securities | $ (23) | $ 49 | $ (113) |
Note 3 - Investment Securitie_5
Note 3 - Investment Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Available for sale securities, due in one year or less, amortized cost | $ 9,626 | |
Available for sale securities, due in one year or less, fair value | 9,640 | |
Available for sale securities, due from one to five years, amortized cost | 13,036 | |
Available for sale securities, due from one to five years, fair value | 13,108 | |
Available for sale securities, due from five to ten years, amortized cost | 9,201 | |
Available for sale securities, due from five to ten years, fair value | 9,589 | |
Available for sale securities, due after ten years, amortized cost | 54,759 | |
Available for sale securities, due after ten years, fair value | 56,536 | |
Total available for sale securities debt maturities, amortized cost | 86,622 | |
Total available for sale securities, debt maturities, fair value | 88,873 | |
Securities available-for-sale, amortized cost | 133,632 | $ 143,982 |
Securities available-for-sale, at fair value | 136,383 | 142,165 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale securities, without single maturity, amortized cost | 11,670 | |
Available for sale securities, without single maturity, fair value | 11,687 | |
Securities available-for-sale, amortized cost | 11,670 | 19,635 |
Securities available-for-sale, at fair value | 11,687 | 19,348 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale securities, without single maturity, amortized cost | 35,340 | |
Available for sale securities, without single maturity, fair value | 35,823 | |
Securities available-for-sale, amortized cost | 35,340 | 24,229 |
Securities available-for-sale, at fair value | $ 35,823 | $ 23,875 |
Note 3 - Investment Securitie_6
Note 3 - Investment Securities - Investment Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | $ 15,945 | $ 34,552 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (110) | (506) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 16,506 | 65,876 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (236) | (1,719) |
US Government Corporations and Agencies Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | ||
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 3,385 | |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (44) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 1,091 | 17,887 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (1) | (140) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 32,712 | |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (850) | |
Corporate Debt Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 2,890 | |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (110) | |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 2,975 | 7,220 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (25) | (190) |
Mortgage-backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 10,017 | 5,575 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (27) | (98) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 8,382 | 22,559 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (112) | (635) |
Asset-backed Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 4,837 | 8,200 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (82) | (158) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 5,149 | |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | $ (99) |
Note 4 - Loans Receivable (Deta
Note 4 - Loans Receivable (Details Textual) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Loans and Leases Receivable, Gross, Total | $ 754,725,000 | $ 618,031,000 | $ 597,721,000 |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 416,157,000 | 328,438,000 | 303,660,000 |
Commercial Real Estate Portfolio Segment [Member] | United States Department of Agriculture Rural Development [Member] | |||
Loans and Leases Receivable, Gross, Total | 11,969,000 | 12,476,000 | |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 5,937,000 | 2,575,000 | |
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 119,952,000 | 76,762,000 | $ 79,256,000 |
Commercial Portfolio Segment [Member] | United States Department of Agriculture Rural Development [Member] | |||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 1,802,000 | $ 1,303,000 |
Note 4 - Loans Receivable - Sum
Note 4 - Loans Receivable - Summary of Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Loans receivable | $ 754,725 | $ 618,031 | $ 597,721 | |||
Deferred loan fees, net | (1,156) | (1,098) | ||||
Allowance for loan losses | (8,200) | $ (7,750) | (6,600) | (6,350) | $ (6,150) | $ (5,750) |
Total loans, net | 745,369 | 610,333 | ||||
Residential Portfolio Segment [Member] | ||||||
Loans receivable | 143,067 | 144,107 | 144,972 | |||
Allowance for loan losses | (1,301) | (1,301) | (1,301) | (1,301) | (1,301) | (1,301) |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans receivable | 416,157 | 328,438 | 303,660 | |||
Allowance for loan losses | (4,660) | (4,276) | (3,593) | (3,401) | (3,230) | (2,778) |
Home Equity Portfolio Segment [Member] | ||||||
Loans receivable | 56,537 | 52,159 | 53,342 | |||
Allowance for loan losses | (477) | (477) | (477) | (427) | (427) | (506) |
Consumer Portfolio Segment [Member] | ||||||
Loans receivable | 19,012 | 16,565 | 16,491 | |||
Allowance for loan losses | (227) | (224) | (190) | (183) | (185) | (225) |
Commercial Portfolio Segment [Member] | ||||||
Loans receivable | 119,952 | 76,762 | 79,256 | |||
Allowance for loan losses | $ (1,535) | $ (1,472) | $ (1,039) | $ (1,038) | $ (1,007) | $ (940) |
Note 4 - Loans Receivable - All
Note 4 - Loans Receivable - Allowance for Loan Losses Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Allowance for loan losses, beginning balance | $ 7,750 | $ 6,150 | $ 6,600 | $ 5,750 | |
Charge-offs | (252) | (14) | (457) | (168) | |
Recoveries | 8 | 20 | 62 | 48 | |
Provision | 694 | 194 | 1,995 | 720 | |
Allowance for loan losses, ending balance | 8,200 | 6,350 | 8,200 | 6,350 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 8,200 | 6,350 | 8,200 | 6,350 | |
Loans receivable | 754,725 | 597,721 | 754,725 | 597,721 | $ 618,031 |
Loans receivable, ending balance, loans individually evaluated for impairment | 3,711 | 1,556 | 3,711 | 1,556 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 751,014 | 596,165 | 751,014 | 596,165 | |
Residential Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 1,301 | 1,301 | 1,301 | 1,301 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision | 0 | 0 | 0 | 0 | |
Allowance for loan losses, ending balance | 1,301 | 1,301 | 1,301 | 1,301 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 1,301 | 1,301 | 1,301 | 1,301 | |
Loans receivable | 143,067 | 144,972 | 143,067 | 144,972 | 144,107 |
Loans receivable, ending balance, loans individually evaluated for impairment | 795 | 564 | 795 | 564 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 142,272 | 144,408 | 142,272 | 144,408 | |
Commercial Real Estate Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 4,276 | 3,230 | 3,593 | 2,778 | |
Charge-offs | 0 | 0 | (20) | 0 | |
Recoveries | 4 | 7 | 13 | 14 | |
Provision | 380 | 164 | 1,074 | 609 | |
Allowance for loan losses, ending balance | 4,660 | 3,401 | 4,660 | 3,401 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 4,660 | 3,401 | 4,660 | 3,401 | |
Loans receivable | 416,157 | 303,660 | 416,157 | 303,660 | 328,438 |
Loans receivable, ending balance, loans individually evaluated for impairment | 1,370 | 514 | 1,370 | 514 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 414,787 | 303,146 | 414,787 | 303,146 | |
Home Equity Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 477 | 427 | 477 | 506 | |
Charge-offs | 0 | 0 | (75) | (80) | |
Recoveries | 0 | 0 | 0 | 1 | |
Provision | 0 | 0 | 75 | 0 | |
Allowance for loan losses, ending balance | 477 | 427 | 477 | 427 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 477 | 427 | 477 | 427 | |
Loans receivable | 56,537 | 53,342 | 56,537 | 53,342 | 52,159 |
Loans receivable, ending balance, loans individually evaluated for impairment | 99 | 228 | 99 | 228 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 56,438 | 53,114 | 56,438 | 53,114 | |
Consumer Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 224 | 185 | 190 | 225 | |
Charge-offs | (44) | (14) | (57) | (64) | |
Recoveries | 3 | 12 | 18 | 22 | |
Provision | 44 | 0 | 76 | 0 | |
Allowance for loan losses, ending balance | 227 | 183 | 227 | 183 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 227 | 183 | 227 | 183 | |
Loans receivable | 19,012 | 16,491 | 19,012 | 16,491 | 16,565 |
Loans receivable, ending balance, loans individually evaluated for impairment | 142 | 137 | 142 | 137 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 18,870 | 16,354 | 18,870 | 16,354 | |
Commercial Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 1,472 | 1,007 | 1,039 | 940 | |
Charge-offs | (208) | 0 | (305) | (24) | |
Recoveries | 1 | 1 | 31 | 11 | |
Provision | 270 | 30 | 770 | 111 | |
Allowance for loan losses, ending balance | 1,535 | 1,038 | 1,535 | 1,038 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 1,535 | 1,038 | 1,535 | 1,038 | |
Loans receivable | 119,952 | 79,256 | 119,952 | 79,256 | $ 76,762 |
Loans receivable, ending balance, loans individually evaluated for impairment | 1,305 | 113 | 1,305 | 113 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | $ 118,647 | $ 79,143 | $ 118,647 | $ 79,143 |
Note 4 - Loans Receivable - Int
Note 4 - Loans Receivable - Internal Classification of the Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Loans receivable | $ 754,725 | $ 618,031 | $ 597,721 |
Residential Portfolio Segment [Member] | |||
Loans receivable | 143,067 | 144,107 | 144,972 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 110,291 | 116,939 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 32,776 | 27,168 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 416,157 | 328,438 | 303,660 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 317,829 | 256,784 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 51,647 | 41,739 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 46,681 | 29,915 | |
Home Equity Portfolio Segment [Member] | |||
Loans receivable | 56,537 | 52,159 | 53,342 |
Consumer Portfolio Segment [Member] | |||
Loans receivable | 19,012 | 16,565 | 16,491 |
Commercial Portfolio Segment [Member] | |||
Loans receivable | 119,952 | 76,762 | $ 79,256 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 73,059 | 59,053 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 46,893 | 17,709 | |
Pass [Member] | |||
Loans receivable | 746,114 | 610,115 | |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 109,268 | 116,065 | |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 32,439 | 26,533 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 313,594 | 252,731 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 51,647 | 41,726 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 46,342 | 29,915 | |
Pass [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 56,438 | 51,668 | |
Pass [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 18,832 | 16,394 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 71,848 | 57,778 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 45,706 | 17,305 | |
Special Mention [Member] | |||
Loans receivable | 2,272 | 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 | 1,647 | 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 | 109 | 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 | 378 | 950 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 138 | 0 | |
Substandard [Member] | |||
Loans receivable | 5,564 | 5,154 | |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 1,023 | 874 | |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 337 | 635 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 2,413 | 2,322 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 0 | 13 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 172 | 0 | |
Substandard [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 99 | 491 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 180 | 171 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 770 | 244 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 570 | 404 | |
Doubtful [Member] | |||
Loans receivable | 775 | 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 | 175 | 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 | 58 | 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 | 63 | 81 | |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 479 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | |||
Loans receivable | 0 | 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 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | $ 0 | $ 0 |
Note 4 - Loans Receivable - Del
Note 4 - Loans Receivable - Delinquencies Within the Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Past due | $ 2,490 | $ 3,509 | |
Non-accrual Loans | 3,711 | 2,290 | |
Current Loans | 748,524 | 612,232 | |
Loans receivable | 754,725 | 618,031 | $ 597,721 |
Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 2,490 | 2,032 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 1,477 | |
Residential Portfolio Segment [Member] | |||
Loans receivable | 143,067 | 144,107 | 144,972 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Past due | 264 | 511 | |
Non-accrual Loans | 458 | 253 | |
Current Loans | 109,569 | 116,175 | |
Loans receivable | 110,291 | 116,939 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 264 | 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 | 0 | 130 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Past due | 0 | 118 | |
Non-accrual Loans | 337 | 634 | |
Current Loans | 32,439 | 26,416 | |
Loans receivable | 32,776 | 27,168 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 0 | 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 | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 416,157 | 328,438 | 303,660 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Past due | 838 | 2,322 | |
Non-accrual Loans | 894 | 432 | |
Current Loans | 316,097 | 254,030 | |
Loans receivable | 317,829 | 256,784 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 838 | 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 | 0 | 1,347 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Past due | 191 | 9 | |
Non-accrual Loans | 0 | 13 | |
Current Loans | 51,456 | 41,717 | |
Loans receivable | 51,647 | 41,739 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 191 | 9 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Past due | 243 | 0 | |
Non-accrual Loans | 476 | 0 | |
Current Loans | 45,962 | 29,915 | |
Loans receivable | 46,681 | 29,915 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 243 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Home Equity Portfolio Segment [Member] | |||
Past due | 467 | 39 | |
Non-accrual Loans | 99 | 491 | |
Current Loans | 55,971 | 51,629 | |
Loans receivable | 56,537 | 52,159 | 53,342 |
Home Equity Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 467 | 39 | |
Home Equity Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Past due | 121 | 135 | |
Non-accrual Loans | 142 | 127 | |
Current Loans | 18,749 | 16,303 | |
Loans receivable | 19,012 | 16,565 | 16,491 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 121 | 135 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Loans receivable | 119,952 | 76,762 | $ 79,256 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Past due | 346 | 284 | |
Non-accrual Loans | 794 | 308 | |
Current Loans | 71,919 | 58,461 | |
Loans receivable | 73,059 | 59,053 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 346 | 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 | 20 | 91 | |
Non-accrual Loans | 511 | 32 | |
Current Loans | 46,362 | 17,586 | |
Loans receivable | 46,893 | 17,709 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Past due | 20 | 91 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | $ 0 | $ 0 |
Note 4 - Loans Receivable - Imp
Note 4 - Loans Receivable - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Recorded investment | $ 3,711 | $ 3,711 | $ 2,290 | ||
Unpaid principal balance | 4,405 | 4,405 | 2,559 | ||
Average recorded investment | 3,670 | $ 1,528 | 3,001 | $ 1,267 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||||
Recorded investment, with no related allowance | 458 | 458 | 253 | ||
Unpaid principal balance, with no related allowance | 494 | 494 | 277 | ||
Average recorded investment | 401 | 232 | 355 | 351 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||||
Recorded investment, with no related allowance | 337 | 337 | 634 | ||
Unpaid principal balance, with no related allowance | 387 | 387 | 684 | ||
Average recorded investment | 337 | 337 | 486 | 169 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||||
Recorded investment, with no related allowance | 894 | 894 | 432 | ||
Unpaid principal balance, with no related allowance | 1,059 | 1,059 | 527 | ||
Average recorded investment | 787 | 521 | 663 | 257 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Recorded investment, with no related allowance | 0 | 0 | 13 | ||
Unpaid principal balance, with no related allowance | 0 | 0 | 26 | ||
Average recorded investment | 0 | 0 | 7 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||||
Recorded investment, with no related allowance | 476 | 476 | 0 | ||
Unpaid principal balance, with no related allowance | 513 | 513 | 0 | ||
Average recorded investment | 476 | 0 | 238 | 0 | |
Home Equity Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance | 99 | 99 | 491 | ||
Unpaid principal balance, with no related allowance | 115 | 115 | 522 | ||
Average recorded investment | 149 | 217 | 295 | 235 | |
Consumer Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance | 142 | 142 | 127 | ||
Unpaid principal balance, with no related allowance | 154 | 154 | 181 | ||
Average recorded investment | 137 | 119 | 134 | 145 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Recorded investment, with no related allowance | 794 | 794 | 308 | ||
Unpaid principal balance, with no related allowance | 915 | 915 | 310 | ||
Average recorded investment | 768 | 102 | 551 | 110 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||||
Recorded investment, with no related allowance | 511 | 511 | 32 | ||
Unpaid principal balance, with no related allowance | 768 | 768 | $ 32 | ||
Average recorded investment | $ 615 | $ 0 | $ 272 | $ 0 |
Note 5 - Troubled Debt Restru_2
Note 5 - Troubled Debt Restructurings (Details Textual) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Financing Receivable, Modifications, Number of Contracts | 1 | |
Financing Receivable, Troubled Debt Restructuring, Recorded Investment | $ 23,000 | |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | |
Financing Receivable, Troubled Debt Restructuring | $ 20,000 | $ 22,000 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | 0 | |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 |
Note 6 - Mortgage Servicing R_3
Note 6 - Mortgage Servicing Rights (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Loans Serviced During the Period | $ 1,112,454,000 | $ 964,967,000 | |||
Fees and Commissions, Mortgage Banking and Servicing | $ 671,000 | $ 575,000 | 1,918,000 | $ 1,698,000 | |
Escrow Deposit | 11,971,000 | 11,971,000 | 5,618,000 | ||
Mortgage Servicing Rights Measured at Fair Value | $ 8,924,000 | $ 8,924,000 | $ 8,700,000 | ||
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 | 110.00% | 83.00% | |||
Mortgage Servicing Rights [Member] | Maximum [Member] | |||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 258.00% | 226.00% | |||
Mortgage Servicing Rights [Member] | Weighted Average [Member] | |||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 176.00% | 119.00% |
Note 6 - Mortgage Servicing R_4
Note 6 - Mortgage Servicing Rights - Schedule of Activity in Mortgage Servicing Rights and the Valuation Allowance (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Mortgage servicing rights: | ||||
Beginning balance | $ 7,666 | $ 6,716 | $ 7,100 | $ 6,578 |
Mortgage servicing rights recognized | 1,030 | 527 | 2,231 | 1,275 |
Amortization of mortgage servicing rights | (478) | (296) | (1,113) | (906) |
Ending balance | $ 8,218 | $ 6,947 | $ 8,218 | $ 6,947 |
Note 7 - Deposits (Details Text
Note 7 - Deposits (Details Textual) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Time Deposits, Total | $ 229,809,000 | $ 162,424,000 |
Brokered Deposits [Member] | ||
Time Deposits, Total | 10,180,000 | 0 |
Brokered Deposits through CDARS [Member] | ||
Time Deposits, Total | $ 16,000,000 | $ 0 |
Note 7 - Deposits - Summary of
Note 7 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Noninterest checking | $ 199,086 | $ 142,788 |
Interest bearing checking | 111,215 | 105,115 |
Savings | 124,587 | 108,234 |
Money market | 124,764 | 108,050 |
Time Deposits, Total | 229,809 | 162,424 |
Total | $ 789,461 | $ 626,611 |
Note 8 - Other Long-term Debt_2
Note 8 - Other Long-term Debt (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Feb. 28, 2017 | Jun. 30, 2015 | Dec. 31, 2010 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Sep. 30, 2005 | |
Debt Instrument, Face Amount | $ 25,155,000 | $ 25,155,000 | $ 25,155,000 | ||||||
Interest Expense, Long-term Debt, Total | $ 360,000 | $ 361,000 | $ 1,089,000 | $ 1,065,000 | |||||
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 | 3.505% | 3.505% | 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 | $ 10,000,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | 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 | $ 10,000,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | 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 8 - Other Long-term Debt -
Note 8 - Other Long-term Debt - Summary of Other Long-term Debt (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | Feb. 28, 2017 | Jun. 30, 2015 |
Principal amount | $ 25,155,000 | $ 25,155,000 | ||
Unamortized debt issuance costs | (230,000) | (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 | (103,000) | (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 | (127,000) | (143,000) | ||
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | ||||
Principal amount | 5,155,000 | 5,155,000 | ||
Unamortized debt issuance costs |
Note 8 - Other Long-term Debt_3
Note 8 - Other Long-term Debt - Summary of Other Long-term Debt (Details) (Parentheticals) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |
Feb. 28, 2017 | Jun. 30, 2015 | Sep. 30, 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 at 3-month LIBOR | 1.42% | 1.42% |
Note 9 - Earnings Per Share (De
Note 9 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Weighted Average Number of Shares Outstanding, Basic, Total | 6,403,693 | 5,460,452 | 6,420,711 | 5,411,356 |
Weighted Average Number of Shares Outstanding, Diluted, Total | 6,425,380 | 5,524,912 | 6,442,934 | 5,475,816 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 | 0 |
Note 10 - Dividends and Stock_2
Note 10 - Dividends and Stock Repurchase Program (Details Textual) - $ / shares | Oct. 17, 2019 | Jul. 18, 2019 | Apr. 18, 2019 | Jan. 24, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Dec. 31, 2018 | Jul. 20, 2018 | Jul. 19, 2018 | Jul. 20, 2017 |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.095 | $ 0.0925 | $ 0.09 | $ 0.09 | ||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.095 | $ 0.0925 | $ 0.0925 | $ 0.0925 | $ 0.0925 | |||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100,000 | 100,000 | 100,000 | |||||||||||||
Treasury Stock, Shares, Acquired | 0 | 28,000 | 42,000 | 70,000,000 | 0 | 0 | ||||||||||
Stock Issued During Period Treasury Stock Reissued Average Cost Per Share | $ 17.09 | $ 17.43 | ||||||||||||||
Subsequent Event [Member] | ||||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.095 |
Note 11 - Accumulated Other C_3
Note 11 - Accumulated Other Comprehensive Income (Loss) - Activity in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Balance | $ 115,694 | $ 91,805 | $ 94,806 | $ 83,616 |
Balance | 120,450 | 91,992 | 115,694 | 91,805 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
Balance | 291 | 227 | 234 | |
Other comprehensive income (loss), before reclassifications and income taxes | 234 | 296 | 664 | |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (402) | (605) | (587) | |
Income tax benefit (expense) | 44 | 82 | (20) | |
Total other comprehensive (loss) income | (124) | (227) | 57 | |
Balance | 167 | 291 | ||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||
Balance | 1,168 | (1,910) | (1,338) | 79 |
Other comprehensive income (loss), before reclassifications and income taxes | 1,166 | (1,237) | 3,451 | (2,799) |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | 23 | (49) | 90 | |
Income tax benefit (expense) | (307) | 320 | (896) | 720 |
Total other comprehensive (loss) income | 859 | (894) | 2,506 | (1,989) |
Balance | 2,027 | (2,804) | 1,168 | (1,910) |
AOCI Attributable to Parent [Member] | ||||
Balance | 1,168 | (1,619) | (1,111) | 313 |
Other comprehensive income (loss), before reclassifications and income taxes | 1,166 | (1,003) | 3,747 | (2,135) |
Amounts reclassified from accumulated other comprehensive income (loss), before income taxes | (379) | (654) | (497) | |
Income tax benefit (expense) | (307) | 364 | (814) | 700 |
Total other comprehensive (loss) income | 859 | (1,018) | 2,279 | (1,932) |
Balance | $ 2,027 | $ (2,637) | $ 1,168 | $ (1,619) |
Note 12 - Derivatives and Hed_3
Note 12 - Derivatives and Hedging Activities (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Unrealized Gain (Loss) on Derivatives | $ 1,393,000 | $ 864,000 |
Note 12 - Derivatives and Hed_4
Note 12 - Derivatives and Hedging Activities - Derivatives (Details) - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Interest Rate Lock Commitments [Member] | ||
Notional amount | $ 70,490 | $ 18,745 |
Fair value, asset | 812 | |
Fair value, liability | ||
Interest Rate Forward Commitments [Member] | ||
Notional amount | 77,000 | 16,000 |
Fair value, asset | 52 | |
Fair value, liability |
Note 13 - Fair Value Disclosu_3
Note 13 - Fair Value Disclosures (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | |
Loans and Leases Receivable, Gross, Total | $ 754,725,000 | $ 618,031,000 | $ 597,721,000 |
Loans and Leases Receivable, Net Amount, Total | 745,369,000 | 610,333,000 | |
Impaired Loans [Member] | |||
Loans and Leases Receivable, Gross, Total | 3,711,000 | 2,290,000 | |
Loans and Leases Receivable, Net Amount, Total | $ 3,711,000 | $ 2,290,000 | |
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 | 110.00% | 83.00% | |
Mortgage Servicing Rights [Member] | Maximum [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 258.00% | 226.00% | |
Mortgage Servicing Rights [Member] | Weighted Average [Member] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 176.00% | 119.00% |
Note 13 - Fair Value Disclosu_4
Note 13 - Fair Value Disclosures - Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans held-for-sale | $ 24,913 | $ 7,318 |
Fair Value, Inputs, Level 1 [Member] | ||
Loans held-for-sale | ||
Fair Value, Inputs, Level 2 [Member] | ||
Loans held-for-sale | 24,913 | 7,318 |
Fair Value, Inputs, Level 3 [Member] | ||
Loans held-for-sale | ||
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 14,129 | 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 | 14,129 | 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 | 53,355 | 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 | 53,355 | 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 | 11,403 | 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 | 11,403 | 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 | 11,687 | 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 | 11,687 | 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 | 35,823 | 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 | 35,823 | 23,875 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Asset-backed Securities [Member] | ||
Securities available-for-sale | 9,986 | 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 | 9,986 | 10,198 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Interest Rate Lock Commitments [Member] | ||
Derivative assets | 812 | |
Interest Rate Lock Commitments [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative assets | ||
Interest Rate Lock Commitments [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative assets | ||
Interest Rate Lock Commitments [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative assets | 812 | |
Forward TBA Mortgage-backed Securities [Member] | ||
Derivative assets | 52 | |
Forward TBA Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative assets | ||
Forward TBA Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative assets | 52 | |
Forward TBA Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative assets |
Note 13 - Fair Value Disclosu_5
Note 13 - Fair Value Disclosures - Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Real estate and other repossessed assets | $ 107 | |
Fair Value, Inputs, Level 1 [Member] | ||
Real estate and other repossessed assets | ||
Fair Value, Inputs, Level 2 [Member] | ||
Real estate and other repossessed assets | ||
Fair Value, Inputs, Level 3 [Member] | ||
Real estate and other repossessed assets | $ 107 |
Note 13 - Fair Value Disclosu_6
Note 13 - Fair Value Disclosures - Financial Assets and Liabilities, Valuation Techniques and Significant Unobservable Inputs (Details) - Repossessed Assets [Member] $ in Thousands | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Fair value | $ 107 | |
Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Repossessed assets, discount rate | 0.1 | |
Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Repossessed assets, discount rate | 0.3 |
Note 13 - Fair Value Disclosu_7
Note 13 - Fair Value Disclosures - Estimated Fair Value and Carrying Amounts of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | $ 13,286 | $ 11,201 |
FHLB stock | 4,167 | 5,011 |
FRB stock | 2,526 | 2,033 |
Loans receivable, net | 747,382 | 603,361 |
Accrued interest and dividends receivable | 5,318 | 3,479 |
Mortgage servicing rights | 8,924 | 8,670 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 360,566 | 321,399 |
Noninterest bearing deposits | 199,086 | 142,788 |
Time certificates of deposit | 229,648 | 160,735 |
Accrued expenses and other liabilities | 10,266 | 5,388 |
FHLB advances and other borrowings | 76,799 | 101,885 |
Other long-term debt | 24,828 | 24,002 |
Reported Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 13,286 | 11,201 |
FHLB stock | 4,167 | 5,011 |
FRB stock | 2,526 | 2,033 |
Loans receivable, net | 745,369 | 608,043 |
Accrued interest and dividends receivable | 5,318 | 3,479 |
Mortgage servicing rights | 8,218 | 7,100 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 360,566 | 321,399 |
Noninterest bearing deposits | 199,086 | 142,788 |
Time certificates of deposit | 229,809 | 162,424 |
Accrued expenses and other liabilities | 10,266 | 5,388 |
FHLB advances and other borrowings | 76,699 | 102,222 |
Other long-term debt | 25,155 | 25,155 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 13,286 | 11,201 |
FHLB stock | 4,167 | 5,011 |
FRB stock | 2,526 | 2,033 |
Loans receivable, net | 0 | 0 |
Accrued interest and dividends receivable | 5,318 | 3,479 |
Mortgage servicing rights | 0 | 0 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 199,086 | 142,788 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 10,266 | 5,388 |
FHLB advances and other borrowings | 0 | 0 |
Other long-term debt | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
FHLB stock | 0 | 0 |
FRB stock | 0 | 0 |
Loans receivable, net | 0 | 0 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 360,566 | 321,399 |
Noninterest bearing deposits | 0 | 0 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 0 | 0 |
FHLB advances and other borrowings | 0 | 0 |
Other long-term debt | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
FHLB stock | 0 | 0 |
FRB stock | 0 | 0 |
Loans receivable, net | 747,382 | 603,361 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 8,924 | 8,670 |
Financial liabilities: | ||
Non-maturing interest bearing deposits | 0 | 0 |
Noninterest bearing deposits | 0 | 0 |
Time certificates of deposit | 229,648 | 160,735 |
Accrued expenses and other liabilities | 0 | 0 |
FHLB advances and other borrowings | 76,799 | 101,885 |
Other long-term debt | $ 24,828 | $ 24,002 |
Note 14 - Recent Accounting P_2
Note 14 - Recent Accounting Pronouncements (Details Textual) - Accounting Standards Update 2016-02 [Member] | Jan. 01, 2019USD ($) |
Operating Lease, Right-of-Use Asset | $ 2,374,000 |
Operating Lease, Liability, Total | $ 2,374,000 |