Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 18, 2016 | Jun. 30, 2014 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | WOLVERINE BANCORP, INC. | ||
Trading Symbol | wbkc | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 2,152,334 | ||
Entity Public Float | $ 45,400,000 | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,500,836 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 334,000 | $ 477,000 |
Interest-earning demand deposits | 52,531,000 | 29,209,000 |
Cash and cash equivalents | 52,865,000 | 29,686,000 |
Interest-earning time deposits | 39,021,000 | |
Investment securities held to maturity | 500,000 | |
Loans held for sale | 581,000 | 570,000 |
Loans, net of allowance for loan losses of $10,061 and $7,976 | 314,613,000 | 296,477,000 |
Premises and equipment, net | 1,285,000 | 1,384,000 |
Federal Home Loan Bank stock | 2,700,000 | 2,500,000 |
Other real estate owned | 130,000 | 335,000 |
Accrued interest receivable | 967,000 | 777,000 |
Other assets | 5,151,000 | 4,895,000 |
Total assets | 417,813,000 | 336,624,000 |
Liabilities | ||
Deposits | 281,701,000 | 223,529,000 |
Federal Home Loan Bank advances | 47,000,000 | 50,000,000 |
Federal funds purchased | 24,000,000 | |
Interest payable and other liabilities | 4,632,000 | 1,557,000 |
Total liabilities | $ 357,333,000 | $ 275,086,000 |
Commitments and Contingencies | ||
Common Stock, $0.01 par value per share: | ||
Authorized – 100,000,000 shares Issued and outstanding – 2,158,034 and 2,263,848 at December 31, 2015 and December 31, 2014 | $ 22,000 | $ 23,000 |
Unearned employee stock ownership plan (ESOP) | (1,410,000) | (1,564,000) |
Additional paid-in capital | 16,401,000 | 18,640,000 |
Retained earnings | 45,467,000 | 44,439,000 |
Total stockholders’ equity | 60,480,000 | 61,538,000 |
Total liabilities and stockholders’ equity | $ 417,813,000 | $ 336,624,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Allowance for loan losses (in Dollars) | $ 10,061 | $ 7,976 |
Common stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 2,158,034 | 2,263,848 |
Common stock, share outstanding | 2,158,034 | 2,263,848 |
Consolidated Statements of Inco
Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Interest and Dividend Income | ||
Loans | $ 15,372 | $ 14,409 |
Investment securities and other | 244 | 198 |
Total interest and dividend income | 15,616 | 14,607 |
Interest Expense | ||
Deposits | 1,451 | 1,106 |
Borrowings | 2,000 | 2,038 |
Total interest expense | 3,451 | 3,144 |
Net Interest Income | 12,165 | 11,463 |
Provision for Loan Losses | 800 | 1,020 |
Net Interest Income After Provision for Loan Losses | 11,365 | 10,443 |
Noninterest Income | ||
Service charges and fees | 297 | 239 |
Net gain on loan sales | 660 | 585 |
Net gain (loss) on sale of real estate owned | (116) | (37) |
Gain on the sale of premises and equipment | 747 | |
Other | 382 | 148 |
Total noninterest income | 1,223 | 1,682 |
Noninterest Expense | ||
Salaries and employee benefits | 4,541 | 4,637 |
Net occupancy and equipment expense | 811 | 883 |
Information technology expense | 236 | 238 |
Federal deposit insurance corporation premiums | 217 | 206 |
Professional and services fees | 398 | 491 |
Other real estate owned expense | 50 | 85 |
Loan legal expense | 322 | 59 |
Advertising expense | 144 | 173 |
Michigan business tax | 186 | 181 |
Other | 953 | 1,063 |
Total noninterest expense | 7,858 | 8,016 |
Income Before Income Tax | 4,730 | 4,109 |
Provision for Income Taxes | 1,544 | 1,426 |
Net Income and Comprehensive Income | $ 3,186 | $ 2,683 |
Earnings Per Share: | ||
Basic (in Dollars per share) | $ 1.57 | $ 1.28 |
Diluted (in Dollars per share) | $ 1.55 | $ 1.27 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Unearned ESOP Shares [Member] | Retained Earnings [Member] | Total |
Balances at January 1, 2014 at Dec. 31, 2013 | $ 23 | $ 18,952 | $ (1,666) | $ 43,016 | $ 60,325 |
Net Income | 2,683 | 2,683 | |||
Purchase of treasury stock | (807) | (807) | |||
Exercised options | 46 | 46 | |||
Share based compensation | 307 | 307 | |||
ESOP shares earned | 142 | 102 | 244 | ||
Dividends | (1,260) | (1,260) | |||
Balance at Dec. 31, 2014 | 23 | 18,640 | (1,564) | 44,439 | 61,538 |
Net Income | 3,186 | 3,186 | |||
Purchase of treasury stock | (1) | (2,795) | (2,796) | ||
Share based compensation | 319 | 319 | |||
ESOP shares earned | 237 | 154 | 391 | ||
Dividends | (2,158) | (2,158) | |||
Balance at Dec. 31, 2015 | $ 22 | $ 16,401 | $ (1,410) | $ 45,467 | $ 60,480 |
Consolidated Statements of Cha6
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Treasury stock, shares purchased | 112,814 | 35,993 |
Dividends, per share | $ 1 | $ 0.60 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Activities | ||
Net income | $ 3,186 | $ 2,683 |
Items not requiring (providing) cash | ||
Depreciation | 232 | 252 |
Deferred income taxes | (215) | (114) |
Provision for loan losses | 800 | 1,020 |
Loans originated for sale | (20,073) | (17,007) |
Proceeds from loans sold | 20,722 | 18,347 |
Net gain on sale of loans | (660) | (585) |
Share based compensation | 319 | 307 |
Earned ESOP shares | 391 | 244 |
Gain on sale of premises and equipment | (747) | |
Changes in | ||
Interest receivable and other assets | 365 | (466) |
Interest payable and other liabilities | 429 | (902) |
Net cash provided by operating activities | 5,496 | 3,032 |
Investing Activities | ||
Net change in time deposits purchased | (39,021) | |
Purchase of held to maturity securities | (500) | |
Proceeds from calls, maturities and pay-downs of held to maturity securities | 123 | |
Net change in loans | (19,111) | (38,483) |
Proceeds from sale of real estate owned | 272 | 808 |
Purchase of premises and equipment | (133) | (72) |
Proceeds from sale of premises and equipment | 752 | |
Purchase of FHLB stock | (200) | |
Proceeds from redemption of FHLB Stock | 820 | |
Net cash used by investing activities | (58,693) | (36,052) |
Financing Activities | ||
Net change in demand deposits, money market, checking and savings accounts | 3,499 | 15,297 |
Net change in certificates of deposit | 54,673 | 35,249 |
Repayment of Federal Home Loan Bank advances | (13,000) | (12,000) |
Proceeds from Federal Home Loan Bank advances | 10,000 | |
Net change in Fed funds purchased | 24,000 | |
Proceeds from stock options exercised | 46 | |
Purchase of common stock | (2,796) | (807) |
Dividends paid | (1,260) | |
Net cash provided by financing activities | 76,376 | 36,525 |
Change in Cash and Cash Equivalents | 23,179 | 3,505 |
Cash and Cash Equivalents, Beginning of Period | 29,686 | 26,181 |
Cash and Cash Equivalents, End of Period | 52,865 | 29,686 |
Supplemental Disclosures of Cash Flows Information | ||
Interest paid | 3,375 | 3,125 |
Income taxes paid | 1,847 | 1,660 |
Loans transferred to real estate owned | 176 | $ 367 |
Dividends declared, not paid | $ 2,158 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Nature Of Operations And Accounting Policies Disclosure [Abstract] | |
Nature Of Operations And Accounting Policies Disclosure [Text Block] | Note 1: Nature of Operations and Summary of Significant Accounting Policies Nature of Operations Wolverine Bank (the “Bank”), a wholly owned subsidiary of Wolverine Bancorp, Inc. (the “Company”), is a federally chartered savings bank primarily engaged in providing a full range of banking and financial services to individual and business customers in the Great Lakes Bay Region and beyond. The Company is subject to competition from other financial institutions. The Company is subject to the regulation of the Federal Reserve Board and the Bank is subject to the regulation of the Officer of the Comptroller of the Currency, and both undergo periodic examinations. The Bank’s additional wholly owned subsidiaries, Wolserv Corporation, a Michigan corporation which has a membership interest in a title company, and Wolverine Commercial Holdings LLC, a Michigan LLC owned by Wolverine Bank which holds certain real estate, are included in the consolidated financial statements. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans and financial instruments. Cash Equivalents We consider all liquid investments with original maturities of three months or less to be cash equivalents. Securities Held-to-maturity securities, which include any security for which we have the positive intent and ability to hold until maturity, are carried at historical cost adjusted for amortization of premiums and accretion of discounts. Amortization of premiums and accretion of discounts are recorded as interest income from securities. Realized gains and losses are recorded as net security gains (losses). Gains and losses on securities are determined on the specific-identification method. Loans Held for Sale Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to noninterest income. Gains and losses on loan sales are recorded in noninterest income, and direct loan origination costs and fees are deferred at origination of the loan and are recognized in noninterest income upon sale of the loan. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoffs are reported at their outstanding principal balances adjusted for any charge-offs, the allowance for loan losses, any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term. Generally, loans are placed on nonaccrual status at ninety days past due and interest is considered a loss, unless the loan is well-secured. Accrued interest for loans placed on nonaccrual status is reversed against interest income. Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is based on historical charge-off experience and expected loss given default derived from our internal risk rating process. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data. A loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent. Groups of loans with similar risk characteristics are collectively evaluated for impairment based on the group’s historical loss experience adjusted for changes in trends, conditions and other relevant factors that affect repayment of the loans. Accordingly, we do not separately identify individual consumer and residential loans for impairment measurements, unless such loans are the subject of a restructuring agreement due to financial difficulties of the borrower. Premises and Equipment Depreciable assets are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line and accelerated methods over the estimated useful lives of the assets ranging from 3 to 39 years. Federal Home Loan Bank Stock Federal Home Loan Bank stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in the common stock is based on a predetermined formula, carried at cost, and evaluated for impairment. Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in net income or expense from foreclosed assets. Earnings Per Common Share Basic earnings per common share (“EPS”) excludes dilution and is computed by dividing net income applicable to common stock by the weighted average number of common shares outstanding for the year. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock (such as stock options) were exercised or converted into additional common shares that would then share in the earnings of the entity. Diluted EPS is computed by dividing net income applicable to common stock by the weighted average number of common shares outstanding for the year, plus an incremental number of common-equivalent shares computed using the treasury stock method. Unvested share-based payment awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered to participate with common stock in undistributed earnings for purposes of computing EPS. Accordingly, the Company is required to calculate basic and diluted EPS using the two-class method. Restricted stock awards granted by the Company are considered participating securities. Calculations of EPS under the two-class method (i) exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities and (ii) exclude from the denominator the dilutive impact of the participating securities. Unearned ESOP shares, which are not vested, and unvested restricted stock awards are excluded from the computation of average shares outstanding. Income Taxes We account for income taxes in accordance with income tax accounting guidance (ASC 740, Income Taxes expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. We determine deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. We recognize interest and penalties on income taxes as a component of income tax expense. We file consolidated income tax returns with our subsidiaries. Recently Issued Accounting Standards FASB Accounting Standards Updates No. 2016-02, Leases (Topic 842) The FASB has issued this Update to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. To meet that objective, the FASB is amending the FASB Accounting Standards Codification® and creating Topic 842, Leases. The amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, for any of the following: 1. A public business entity 2. A not-for-profit entity that has issued, or is a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an over the-counter market 3. An employee benefit plan that files financial statements with the U.S. Securities and Exchange Commission (SEC). For all other entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early application of the amendments in this Update is permitted for all entities. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. FASB Accounting Standards Updates No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The FASB has issued Accounting Standards Update (ASU) No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The new guidance makes targeted improvements to existing U.S. GAAP by: ● Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; ● Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; ● Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; ● Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities; ● Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and ● Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance permits early adoption of the own credit provision. In addition, the new guidance permits early adoption of the provision that exempts private companies and not-for-profit organizations from having to disclose fair value information about financial instruments measured at amortized cost. Adoption of the FASB Accounting Standards Update No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments The FASB has issued Accounting Standards Update (ASU) No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. U.S. GAAP currently requires that during the measurement period, the acquirer retrospectively adjust the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill. Those adjustments are required when new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts initially recognized or would have resulted in the recognition of additional assets or liabilities. The acquirer also must revise comparative information for prior periods presented in financial statements as needed, including revising depreciation, amortization, or other income effects as a result of changes made to provisional amounts. The amendments require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The amendments require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. The only disclosures required at transition should be the nature of and reason for the change in accounting principle. An entity should disclose that information in the first annual period of adoption and in the interim periods within the first annual period if there is a measurement-period adjustment during the first annual period in which the changes are effective. FASB Accounting Standards Update No. 2015-15, Interest—Imputation of Interest (Subtopic 835-30), Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements The FASB has issued Accounting Standards Update (ASU) No. 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, Given the absence of authoritative guidance within ASU 2015-03 for debt issuance costs related to line-of-credit arrangements, the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. FASB Accounting Standards Update No. 2015-03, Interest— Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs The FASB has issued Accounting Standards Update (ASU) No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments should be applied on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. These disclosures include the nature of and reason for the change in accounting principle, the transition method, a description of the prior-period information For public business entities, the amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of the amendments is permitted for financial statements that have not been previously issued. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. FASB Accounting Standards Update No. 2015-01, Eliminating the Concept of Extraordinary Items The FASB has issued Accounting Standards Update (ASU) No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. This ASU eliminates from U.S. GAAP the concept of extraordinary items. Subtopic 225-20, Income Statement - Extraordinary and Unusual Items, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. If an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. |
Note 2 - Restriction on Cash an
Note 2 - Restriction on Cash and Due from Banks | 12 Months Ended |
Dec. 31, 2015 | |
Summary Of Cash And Due From Banks [Abstract] | |
Summary Of Cash And Due From Banks [Text Block] | Note 2: Restriction on Cash and Due From Banks We are required to maintain reserve funds in cash and/or on deposit with the Federal Reserve Bank. The reserve required at December 31, 2015 was $493. At December 31, 2015, the Company’s cash accounts exceeded federally insured limits by approximately $16,606. Additionally, the Company had approximately $1,497 and $32,753 on deposit with the Federal Home Loan Bank of Indianapolis and Federal Reserve Bank of Chicago, as of December 31, 2015, which are not federally insured. |
Note 3 - Securities
Note 3 - Securities | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3: Securities The amortized cost and approximate fair values of securities are as follows: Amortized Gross Gross Approximate Held to Maturity Securities: December 31, 2015 Treasury bond $ 500 $ – $ – $ 500 The treasury bond held at December 31, 2015 matures on January 7 th There were no sales of securities during 2015 or 2014. |
Note 4 - Loans and Allowance fo
Note 4 - Loans and Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4: Loans and Allowance for Loan Losses Categories of loans include: December 31, 2015 December 31, 2014 Real Estate One-to four-family $ 39,719 $ 44,316 Home Equity 5,459 6,645 Commercial mortgage loans Commercial real estate 183,934 153,705 Multifamily 58,804 61,204 Land 12,543 10,060 Construction 14,785 21,673 Commercial Non-mortgage 14,826 14,717 Consumer 1,221 1,142 Total loans 331,291 313,462 Less Net deferred loan fees, premiums and discounts 567 555 Undisbursed portion of loans 6,050 8,454 Allowance for loan losses 10,061 7,976 Net Loans $ 314,613 $ 296,477 The risk characteristics of each loan portfolio segment are as follows: 1-4 Family, Home Equity, and Consumer With respect to residential loans that are secured by 1-4 family residences and are primarily owner occupied, we generally establish a maximum loan-to-value ratio and require PMI if that ratio is exceeded. Home equity loans are typically secured by a subordinate interest in 1-4 family residences, and consumer loans are typically secured by consumer assets such as automobiles or recreational vehicles. Some consumer loans are unsecured such as small installment loans. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment can also be impacted by changes in property values on residential properties. Home equity loans secured by second mortgages have greater risk than one-to-four family residential mortgage loans secured by first mortgages. We face the risk that the collateral will be insufficient to compensate us for loan losses and costs of foreclosure. When customers default on their loans, we attempt to foreclose on the property and resell the property as soon as possible to minimize foreclosure and carrying costs. However, the value of the collateral may not be sufficient to compensate us for the amount of the unpaid loan and we may be unsuccessful in recovering the remaining balance from those customers. Particularly with respect to our home equity loans, decreases in real estate values could adversely affect the value of property used as collateral for our loans. Consumer and other loans generally have greater risk compared to longer-term loans secured by improved, owner-occupied real estate, particularly consumer loans that are secured by rapidly depreciable assets, such as automobiles. In these cases, any repossessed collateral for a defaulted loan may not provide an adequate source of repayment of the outstanding loan balance. As a result, consumer loan collections are dependent on the borrower’s continuing financial stability and thus are more likely to be adversely affected by job loss, divorce, illness or personal bankruptcy. Commercial real estate and multi-family Commercial real estate and multi-family loans generally have greater credit risk than the owner-occupied one-to-four family residential mortgage loans that we originate for retention in our loan portfolio. Repayment of these loans generally depends, in large part, on sufficient income from the property securing the loan or the borrower’s business to cover operating expenses and debt service. These types of loans typically involve larger loan balances to single borrowers or groups of related borrowers compared to one-to-four family residential mortgage loans. Changes in economic conditions that are beyond the control of the borrower may affect the value of the security for the loan, the future cash flow of the affected property or business, or the marketability of a construction project with respect to loans originated for the acquisition and development of property. Additionally, due to declining property values in our primary market area and in Michigan, the loan to value ratios of many of our commercial real estate and multi-family have increased significantly from the loan to value ratios that were assigned to these loans at the time of origination. Land Land loans generally have greater credit risk than the owner-occupied one-to four-family residential mortgage loans that we originate for retention in our portfolio. Repayment of these loans generally depends, in large part, on the sale of the land. The sale of land can either take place when the land is undeveloped, or developed. Generally, other cash flow sources of the borrower are utilized to make additional payments on land loans. Changes in economic conditions that are beyond the control of the borrower may affect the value of the security for the loan, the future cash flow of the affected property or business, or the marketability of a construction project with respect to loans originated for the acquisition and development of property. Additionally, due to declining property values in our primary market area and in Michigan, the loan to value ratios of many of our land loans have increased significantly from the loan to value ratios that were assigned to these loans at the time of origination. Construction Construction loans include those for one-to-four family residential properties and commercial properties, including multifamily loans and commercial “mixed-use” buildings and homes built by developers on speculation. Construction loans for one-to-four family residential properties are originated with a maximum loan to value ratio of 70% and are generally “interest-only” loans during the construction period which typically does not exceed nine months. Construction loans for commercial real estate are made in accordance with a schedule reflecting the cost of construction, and are generally limited to a 70% loan-to-completed appraised value ratio. For all construction loans, we generally require that a commitment for permanent financing be in place prior to closing the construction loan. Repayment of one-to four-family residential property loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment of commercial property loans and homes built by developers on speculation is normally expected from the property’s eventual rental income, income from the borrower’s operations, the personal resources of the guarantor, or the sale of the subject property. Generally, before making a commitment to fund a construction loan, we require an appraisal of the property by a state-certified or state-licensed appraiser. We review and inspect properties before disbursement of funds during the term of the construction loan. Construction financing generally involves greater credit risk than long-term financing on improved, owner-occupied real estate. Risk of loss on a construction loan depends largely upon the accuracy of the initial estimate of the value of the property at completion of construction compared to the estimated cost (including interest) of construction and other assumptions. If the estimate of construction cost is inaccurate, we may be required to advance additional funds beyond the amount originally committed in order to protect the value of the property. Moreover, if the estimated value of the completed project is inaccurate, the borrower may hold a property with a value that is insufficient to assure full repayment of the construction loan upon the sale of the property. Construction loans also expose us to the risk that improvements will not be completed on time in accordance with specifications and projected costs. In addition, the ultimate sale or rental of the property may not occur as anticipated. Commercial non-mortgage Commercial non-mortgage loans generally have a greater credit risk than residential mortgage loans. Unlike residential mortgage loans, which generally are made on the basis of the borrower’s ability to make repayment from his or her employment and other income, and which are secured by real property whose value tends to be more easily ascertainable, commercial non-mortgage loans are of higher risk and typically are made on the basis of the borrower’s ability to make repayment from the cash flow of the borrower’s business. As a result, the availability of funds for the repayment of commercial non-mortgage loans may be substantially dependent on the success of the business itself. Further, the collateral securing the loans may depreciate over time, may be difficult to appraise and may fluctuate in value based on the success of the business. In determining the appropriate level of allowance for loan loss, we analyze various components of our portfolio. The following components are analyzed: all substandard loans on an individual basis; all loans that are designated special mention or closely monitored; loans not classified according to purpose or collateral type; and overdrawn deposit account balances. We also factor in historical loss experience and qualitative considerations, including trends in charge offs and recoveries; trends in delinquencies and impaired/classified loans; effects of credit concentrations; changes in underwriting standards and loan review system; experience in lending staff; current industry conditions; current market conditions; and change in regional employment conditions. In instances where risk and loss exposure is clearly identified with a particular asset, a specific valuation allowance will be established or the asset or a portion of the asset will be charged off. The following tables present the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of December 31, 2015 and 2014: Loan Class 1-4 Family Home Equity Commercial Real Estate Multifamily Land Construction Commercial Non-Mortgage Consumer Total Year to date analysis as of December 31, 2015 Allowance for loan losses: Balance, beginning of period $ 881 $ 100 $ 3,573 $ 1,391 $ 1,205 $ 539 $ 269 $ 18 $ 7,976 Provision charged to expense 79 8 72 124 374 65 75 3 800 Losses charged off (45 ) - - - - - - (1 ) (46 ) Recoveries 33 - 1,268 - 26 - - 4 1,331 Balance, end of period $ 948 $ 108 $ 4,913 $ 1,515 $ 1,605 $ 604 $ 344 $ 24 $ 10,061 Ending Balance: individually evaluated for impairment $ - $ - $ 200 $ 100 $ 850 $ - $ - $ - $ 1,150 Ending balance: collectively evaluated for impairment $ 948 $ 108 $ 4,713 $ 1,415 $ 755 $ 604 $ 344 $ 24 $ 8,911 Loans: Ending Balance $ 39,719 $ 5,459 $ 183,934 $ 58,804 $ 12,543 $ 14,785 $ 14,826 $ 1,221 $ 331,291 Ending Balance: individually evaluated for impairment $ 1,504 $ - $ 12,280 $ 7,877 $ 1,883 $ - $ 295 $ - $ 23,839 Ending balance: collectively evaluated for impairment $ 38,215 $ 5,459 $ 171,654 $ 50,927 $ 10,660 $ 14,785 $ 14,531 $ 1,221 $ 307,452 Loan Class 1-4 Family Home Equity Commercial Real Estate Multifamily Land Construction Commercial Non-Mortgage Consumer Total Year to date analysis as of December 31, 2014 Allowance for loan losses: Balance, beginning of period $ 1,354 $ 251 $ 2,861 $ 1,514 $ 1,145 $ 285 $ 157 $ 30 $ 7,597 Provision charged to expense (475 ) (151 ) 702 (123 ) (33 ) 1,004 112 (16 ) 1,020 Losses charged off (55 ) - - - - (750 ) - (1 ) (806 ) Recoveries 57 - 10 - 93 - - 5 165 Balance, end of period $ 881 $ 100 $ 3,573 $ 1,391 $ 1,205 $ 539 $ 269 $ 18 $ 7,976 Ending Balance: individually evaluated for impairment $ - $ - $ 200 $ 100 $ 850 $ - $ - $ - $ 1,150 Ending balance: collectively evaluated for impairment $ 881 $ 100 $ 3,373 $ 1,291 $ 355 $ 539 $ 269 $ 18 $ 6,826 Loans: Ending Balance $ 44,316 $ 6,645 $ 153,705 $ 61,204 $ 10,060 $ 21,673 $ 14,717 $ 1,142 $ 313,462 Ending Balance: individually evaluated for impairment $ 1,645 $ 63 $ 8,956 $ 8,192 $ 3,224 $ 5,349 $ 351 $ - $ 27,780 Ending balance: collectively evaluated for impairment $ 42,671 $ 6,582 $ 144,749 $ 53,012 $ 6,836 $ 16,324 $ 14,366 $ 1,142 $ 285,682 Consistent with regulatory guidance, charge offs on all loan segments are taken when specific loans, or portions thereof, are considered uncollectible. Our policy is to promptly charge these loans off in the period the uncollectible loss is reasonably determined. For all loan portfolio segments except one-to-four family residential loans and consumer loans, we promptly charge off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower’s ability to adequately meet its obligations. For impaired loans that are considered to be solely collateral dependent, a partial charge off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral. We charge off one-to-four family residential and consumer loans, or portions thereof, when we reasonably determine the amount of the loss. We adhere to timeframes established by applicable regulatory guidance which provides for the charge off of one-to-four family first and junior lien mortgages to the net realizable value less costs to sell when the loan is 180 days past due, charge off of unsecured open-end loans when the loan is 180 days past due, and charge down to the net realizable value when other secured loans are 120 days past due. Loans at these respective delinquency thresholds for which we can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged off. The following table presents the credit risk profile of our loan portfolio based on rating category and payment activity as of December 31, 2015 and 2014: 1-4 Family Home Equity Commercial Real Estate Multifamily 2015 2014 2015 2014 2015 2014 2015 2014 Pass $ 36,941 $ 40,253 $ 5,459 $ 6,645 $ 150,122 $ 131,833 $ 46,230 $ 47,308 Pass (Closely Monitored) 1,437 2,446 - - 21,156 10,446 8,142 9,244 Special Mention 225 413 - - 751 2,383 - - Substandard 1,116 1,204 - - 11,905 9,043 4,432 4,652 Doubtful - - - - - - - - Loss - - - - - - - - $ 39,719 $ 44,316 $ 5,459 $ 6,645 $ 183,934 $ 153,705 $ 58,804 $ 61,204 Land Construction Commercial Non-Mortgage Consumer Total 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Pass $ 9,462 $ 5,160 $ 14,785 $ 18,213 $ 9,626 $ 14,023 $ 1,221 $ 1,142 $ 273,846 $ 264,577 Pass (Closely Monitored) 1,239 2,156 - - 4,904 343 - - 36,878 24,635 Special Mention - - - - - 19 - - 976 2,815 Substandard 1,842 2,744 - 3,460 296 332 - - 19,591 21,435 Doubtful - - - - - - - - - - Loss - - - - - - - - - - $ 12,543 $ 10,060 $ 14,785 $ 21,673 $ 14,826 $ 14,717 $ 1,221 $ 1,142 $ 331,291 $ 313,462 We categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation and current economic trends, among other factors. We analyze loans individually by classifying the loans as to credit risk. This analysis is performed during the loan approval process and is updated as circumstances warrant. The Pass asset quality rating encompasses assets that have performed as expected. These assets generally do not have delinquency or servicing issues. Loans assigned this rating include loans to borrowers possessing solid credit quality with acceptable risk. Borrowers in these grades are differentiated from higher grades on the basis of size (capital and/or revenue), leverage, asset quality, stability of the industry or specific market area and quality/coverage of collateral. These borrowers generally have a history of consistent earnings and reasonable leverage. The Closely Monitored asset quality rating encompasses assets that have been brought to the attention of management and may, if not corrected, warrant a more serious quality rating by management. These assets are usually in the first phase of a deficiency situation and may possess similar criteria as Special Mention assets. This grade includes “pass grade” loans to borrowers which require special monitoring because of deteriorating financial results, declining credit ratings, decreasing cash flow, increasing leverage, marginal collateral coverage or industry stress that has resulted or may result in a changing overall risk profile. The Special Mention asset quality rating encompasses assets that have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. This grade is intended to include loans to borrowers whose credit quality has clearly deteriorated and where risk of further decline is possible unless active measures are taken to correct the situation. Weaknesses are considered potential at this state and are not yet fully defined. The Substandard asset quality rating encompasses assets that are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any; assets having a well-defined weakness(es) based upon objective evidence; assets characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected; or the possibility that liquidation will not be timely. Loans categorized in this grade possess a well-defined credit weakness and the likelihood of repayment from the primary source is uncertain. Significant financial deterioration has occurred and very close attention is warranted to ensure the full repayment without loss. Collateral coverage may be marginal and the accrual of interest has been suspended. The Doubtful asset quality rating encompasses assets that have all of the weaknesses of those classified as Substandard. In addition, these weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The Loss asset quality rating encompasses assets that are considered uncollectible and of such little value that their continuance as assets of the bank is not warranted. A loss classification does not mean that an asset has no recovery or salvage value; instead, it means that it is not practical or desirable to defer writing off or reserving all or a portion of a basically worthless asset, even though partial recovery may be realized in the future. The following table is a summary of our past due and non-accrual loans as of December 31, 2015 and 2014: As of December 31, 2015 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Receivable Total Loans >90 Days & Accruing Total Nonaccrual 1-4 Family $ 151 $ 152 $ - $ 303 $ 39,416 $ 39,719 $ - $ 99 Home Equity - - - - 5,459 5,459 - - Commercial Real Estate 6 1,011 - 1,017 182,917 183,934 - 5,188 Multifamily 1,291 - - 1,291 57,513 58,804 - - Land - - 1,842 1,842 10,701 12,543 - 1,842 Construction - - - - 14,785 14,785 - - Commercial Non-Mortgage - - - - 14,826 14,826 - - Consumer - - - - 1,221 1,221 - - Total $ 1,448 $ 1,163 $ 1,842 $ 4,453 $ 326,838 $ 331,291 $ - $ 7,129 As of December 31, 2014 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Receivable Total Loans >90 Days & Accruing Total Nonaccrual 1-4 Family $ 334 $ 152 $ 107 $ 593 $ 43,723 $ 44,316 $ - $ 107 Home Equity - - - - 6,645 6,645 - - Commercial Real Estate 818 634 649 2,101 151,604 153,705 - 1,339 Multifamily - - - - 61,204 61,204 - - Land - - 2,700 2,700 7,360 10,060 - 2,700 Construction 3,960 - - 3,960 17,713 21,673 - 3,960 Commercial Non-Mortgage - - 19 19 14,698 14,717 - 19 Consumer - - - - 1,142 1,142 - - Total $ 5,112 $ 786 $ 3,475 $ 9,373 $ 304,089 $ 313,462 $ - $ 8,125 Nonaccrual Loan and Past Due Loans. The accrual of interest is discontinued on all loan classes at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is considered doubtful. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. Subsequent payments on non-accrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. We generally require a period of satisfactory performance of not less than six months before returning a nonaccrual loan to accrual status. A loan is considered impaired, in accordance with the impairment accounting guidance (ASC 310-10-35-16), when based on current information and events, it is probable we will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming commercial loans but also include loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. Interest income on loans individually classified as impaired is recognized on a cash basis after all past due and current principal payments have been made. The following table present impaired loans for the year ended December 31, 2015: Unpaid Recorded Principal Specific YTD Average YTD Interest Balance Balance Allowance Balance Income Loans without a specific valuation allowance: 1-4 Family $ 1,504 $ 1,633 $ - $ 1,791 $ 80 Home Equity - - - 15 - Commercial real estate 9,912 11,820 - 10,508 289 Multi Family 6,586 7,400 - 6,685 359 Land 41 96 - 371 22 Construction - - - - - Commercial Non-Mortgage 295 295 - 311 22 Consumer - - - - - Loans with a specific valuation allowance: 1-4 Family $ - $ - $ - $ - $ - Home Equity - - - - - Commercial real estate 2,368 2,368 200 2,499 175 Multi Family 1,291 1,291 100 1,319 77 Land 1,842 3,640 850 2,115 - Construction - - - - - Commercial Non-Mortgage - - - - - Consumer - - - - - Totals 1-4 Family $ 1,504 $ 1,633 $ - $ 1,791 $ 80 Home Equity - - - 15 - Commercial real estate 12,280 14,188 200 13,007 464 Multi Family 7,877 8,691 100 8,004 436 Land 1,883 3,736 850 2,486 22 Construction - - - - - Commercial Non-Mortgage 295 295 - 311 22 Consumer - - - - - Total $ 23,839 $ 28,543 $ 1,150 $ 25,614 $ 1,024 The following table present impaired loans for the year ended December 31, 2014: Recorded Balance Unpaid Principal Balance Specific Allowance YTD Average Balance YTD Interest Income Loans without a specific valuation allowance: 1-4 Family $ 1,467 $ 1,643 $ - $ 1,472 $ 77 Home Equity 63 63 - 65 2 Commercial real estate 6,029 8,309 - 6,680 323 Multi Family 6,847 7,661 - 6,941 392 Land 524 805 - 504 4 Construction 5,349 4,712 - 3,664 57 Commercial Non-Mortgage 19 19 - 137 5 Consumer - - - - - Loans with a specific valuation allowance: 1-4 Family $ 178 $ 178 $ - $ 180 $ 8 Home Equity - - - - - Commercial real estate 2,927 2,927 200 3,000 200 Multi Family 1,345 1,345 100 1,355 83 Land 2,700 4,060 850 3,044 1 Construction - - - 2,674 107 Commercial Non-Mortgage 332 332 - 343 18 Consumer - - - - - Totals 1-4 Family $ 1,645 $ 1,821 $ - $ 1,652 $ 85 Home Equity 63 63 - 65 2 Commercial real estate 8,956 11,236 200 9,680 523 Multi Family 8,192 9,006 100 8,296 475 Land 3,224 4,865 850 3,548 5 Construction 5,349 4,712 - 6,338 164 Commercial Non-Mortgage 351 351 - 480 23 Consumer - - - - - Total $ 27,780 $ 32,054 $ 1,150 $ 30,059 $ 1,277 Loans to related parties totaled $7,310 and $7,872 at December 31, 2015 and 2014, respectively. The decrease was due to $5,000 in new loans and refinances and $5,562 in payoffs and repayments. Troubled Debt Restructuring (TDR) We may grant a concession or modification for economic or legal reasons related to a borrower’s financial condition that we would not otherwise consider resulting in a modified loan which is then identified as a troubled debt restructuring. We may modify loans through rate reductions, short-term extensions of maturity, interest only payments, or payment modifications to better match the timing of cash flows due under the modified terms with the cash flows from the borrowers’ operations. Loan modifications are intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. We identify loans for potential restructure primarily through direct communication with the borrower and evaluation of the borrower’s financial statements, revenue projections, tax returns, and credit reports. Even if the borrower is not presently in default, management will consider the likelihood that cash flow shortages, adverse economic conditions, and negative trends may result in a payment default in the near future. For one-to-four family residential and home equity lines of credit, a restructure often occurs with past due loans and may be offered as an alternative to foreclosure. There are other situations where borrowers, who are not past due, experience a sudden job loss, become over-extended with credit obligations, or other problems, have indicated that they will be unable to make the required monthly payment and request payment relief. When considering a loan restructure, management will determine if: (i) the financial distress is short or long term; (ii) loan concessions are necessary; and (iii) the restructure is a viable solution. When a loan is restructured, the new terms often require a reduced monthly debt service payment. No TDRs that were on non-accrual status at the time the concessions were granted have been returned to accrual status. For commercial loans, management completes an analysis of the operating entity’s ability to repay the debt. If the operating entity is capable of servicing the new debt service requirements and the underlying collateral value is believed to be sufficient to repay the debt in the event of a future default, the new loan can be placed on accrual status after six months of performance with the new loan terms. To date, there have been no commercial loans restructured and immediately placed on accrual status after the execution of the TDR. For retail loans, an analysis of the individual’s ability to service the new required payments is performed. If the borrower is capable of servicing the newly restructured debt and the underlying collateral value is believed to be sufficient to repay the debt in the event of a future default, the new loan can be placed on accrual status after six months of performance to the new loan terms. The reason for the TDR is also considered, such as paying past due real estate taxes or payments caused by a temporary job loss, when determining whether a retail TDR loan could be returned to accrual status. Retail TDRs remain on nonaccrual status until sufficient payments have been made to bring the past due principal and interest current and/or after six months of performance to the new loan terms at which point the loan could be transferred to accrual status. The following tables summarize the loans that have been restructured as TDRs during the twelve months ended December 31, 2015 and 2014: Twelve Months Ended December 31, 2015 Count Balance prior to TDR Balance after (Dollars in thousands) Commercial real estate 3 $ 817 $ 817 Total 3 $ 817 $ 817 Twelve Months Ended December 31, 2014 Count Balance prior to TDR Balance after (Dollars in thousands) Construction 1 $ 4,710 $ 4,710 Land 1 614 614 Total 2 $ 5,324 $ 5,324 The TDRs described above for the twelve months ended December 31, 2015 did not have a material impact on the allowance for loan losses or a material charge-off. A default on a TDR occurs when a TDR is 90 days or more past due, transferred to nonaccrual status, or transferred to other real estate owned. The Company did not have any TDR loans default during the past 12 months. The Company had no TDR loans that defaulted in 2015. The following tables summarize the loans that have been restructured as TDRs based on the type of modification or concession granted to the borrower during the twelve months ending December 31, 2015 and 2014: As of December 31, 2015 Payment Extension Rate Reduction Combination Totals Number Amount Number Amount Number Amount 1-4 Family - $ - - $ - - $ - $ -- Home Equity - - - - - - - Commercial Real Estate - - - - 3 817 817 Multifamily - - - - - - - Land - - - - - - - Construction - - - - - - - Commercial Non-Mortgage - - - - - - - Consumer - - - - - - - Total - - $ - - - $ - - 3 $ 817 $ 817 As of December 31, 2014 Payment Extension Rate Reduction Combination Totals Number Amount Number Amount Number Amount 1-4 Family - $ - - $ - - $ - $ -- Home Equity - - - - - - - Commercial Real Estate - - - - - - - Multifamily - - - - - - - Land - - - - 1 614 614 Construction 1 4,710 - - - - 4,710 Commercial Non-Mortgage - - - - - - - Consumer - - - - - - - Total 1 $ 4,710 - $ - 1 $ 614 $ 5,324 Management monitors the TDRs based on the type of modification or concession granted to the borrower. These types of modifications may include rate reductions, payment/term extensions, forgiveness of principal, forbearance, and other applicable actions. During the year ended December 31, 2015, management predominantly utilized rate reductions and lower monthly payments, either from a longer amortization period or interest only repayment schedule, because these concessions provide needed payment relief without risking the loss of principal. Management will also agree to a forbearance agreement when it is deemed appropriate to avoid foreclosure. |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Note 5: Premises and Equipment Major classifications of premises and equipment, stated at cost, are as follows: 2015 2014 Land $ 514 $ 514 Buildings and improvements 3,146 3,146 Furniture, fixtures, and equipment 3,308 3,172 6,968 6,832 Less accumulated depreciation (5,683 ) (5,448 ) Net premises and equipment $ 1,285 $ 1,384 |
Note 6 - Deposits
Note 6 - Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | Note 6: Deposits Deposits at year-end are summarized as follows: 2015 2014 Savings accounts $ 13,626 $ 13,249 Checking accounts 33,934 33,819 Money market accounts 70,356 67,349 Certificates of deposit 163,785 109,112 Total Deposits $ 281,701 $ 223,529 Brokered certificates of deposit totaled $43,612 at December 31, 2015 and $2,900 at December 31, 2014. At December 31, 2015, scheduled maturities of certificates of deposit are as follows: 2016 86,772 2017 33,067 2018 17,723 2019 15,877 2020 9,532 Thereafter 814 Total 163,785 Time deposits of $250 or more were $39,061 at December 31, 2015 and time deposits of $100 or more were $85,833 at December 31, 2014. |
Note 7 - Federal Home Loan Bank
Note 7 - Federal Home Loan Bank Advances | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note 7: Federal Home Loan Bank Advances Federal Home Loan Bank advances totaled $47,000 at December 31, 2015 and $50,000 at December 31, 2014. At December 31, 2015, the advances are at fixed rates and bear interest at rates ranging from 2.21% to 5.25% and are secured by loans under a blanket collateral agreement as well as specific deposits at the Federal Home Loan Bank totaling $136,207. Advances are subject to restrictions or penalties in the event of prepayment. Aggregate annual maturities of our Federal Home Loan Bank advances at December 31, 2015, are: 2016 - 2017 10,000,000 2018 5,000,000 2019 - 2020 10,000,000 Thereafter 22,000,000 Total $ 47,000,000 |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 8: Income Taxes The provision for income taxes includes these components: 2015 2014 Taxes currently payable $ 1,759 $ 1,540 Deferred income taxes (215 ) (114 ) Income tax expense $ 1,544 $ 1,426 A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax expense is shown below: 2015 2014 Computed at the statutory rate (34%) $ 1,608 $ 1,397 Increase (decrease) resulting from Tax exempt interest (49 ) (49 ) Other (15 ) 78 Actual tax expense $ 1,544 $ 1,426 The tax effects of temporary differences related to deferred taxes shown on the consolidated balance sheets were: 2015 2014 Deferred tax asset Allowance for loan losses $ 2,984 $ 2,712 Depreciation 134 125 Deferred loan fees 195 191 Deferred compensation 197 189 Real estate owned 27 1 Other 62 166 3,599 3,384 Deferred tax liabilities FHLB stock dividends 31 31 Net deferred tax asset $ 3,568 $ 3,353 Retained earnings at December 31, 2015 include approximately $2,019 for which no deferred federal income tax liability has been recognized. This amount represents an allocation of income to bad debt deductions for tax purposes only. Reduction of amounts so allocated for purposes other than tax bad debt losses or adjustments arising from carryback of net operating losses would create income for tax purposes only, which would be subject to the then-current corporate income tax rate. The deferred income tax liabilities on the preceding amounts that would have been recorded if they were expected to reverse into taxable income in the foreseeable future were approximately $686 at December 31, 2015. ASC Topic 740-10 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. It also provides b on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company did not identify any uncertain tax positions that it believes should be recognized in the consolidated financial statements. |
Note 9 - Regulatory Matters
Note 9 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 9: Regulatory Matters We are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. Our capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Basel III Capital Rules In July 2013, the three federal bank regulatory agencies jointly published final rules (the Basel III Capital Rules) establishing a new comprehensive capital framework for U.S. banking organizations. The rules implement the Basel Committee’s December 2010 framework known as “Basel III” for strengthening international capital standards as well as certain provisions of the Dodd-Frank Act. These rules substantially revise the risk-based capital requirements applicable to bank holding companies and depository institutions, compared to the current U.S. risk-based capital rules. The Basel III Capital Rules define the components of capital and address other issues affecting the numerator in banking institutions’ regulatory capital ratios. These rules also address risk weights and other issues affecting the denominator in banking institutions’ regulatory capital ratios and replace the existing risk-weighting approach with a more risk-sensitive approach. The Basel III Capital Rules were effective for the Bank on January 1, 2015 (subject to a four-year phase-in period). The Basel III Capital Rules, among other things, (i) introduce a new capital measure called “Common Equity Tier 1” (CET1), (ii) specify that Tier 1 capital consist of CET1 and “Additional Tier 1 Capital” instruments meeting specified requirements, (iii) define CET1 narrowly by requiring that most deductions/adjustments to regulatory capital measures be made to CET1 and not to the other components of capital and (iv) expand the scope of the deductions/adjustments as compared to existing regulations. Under the Basel III Capital Rules, the initial minimum capital ratios as of January 1, 2015, will be as follows: 4.5% CET1 to risk-weighted assets 6.0% Tier 1 capital to risk-weighted assets 8.0% Total capital to risk-weighted assets 4.0% Minimum leverage ratio Implementation of the deductions and other adjustments to CET1 began on January 1, 2015, and will phase in over a four-year period (beginning at 40% on January 1, 2015, and an additional 20% per year thereafter). Under the new rule, in order to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers, a banking organization must hold a capital conservation buffer composed of CET1 capital above its minimum risk-based capital requirements. The implementation of the capital conservation buffer begins on January 1, 2016, at the 0.625% level and will phase in over a four-year period (increasing by that amount on each subsequent January 1 until it reaches 2.5% on January 1, 2019). Quantitative measures established by regulation to ensure capital adequacy require us to maintain minimum amounts and ratios (set forth in the table below). Management believes, as of December 31, 2015 and 2014, that we meet all capital adequacy requirements to which we are subject. Our actual capital amounts and ratios are also presented in the table. Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2015 Total risk-based capital (to risk-weighted assets) 61,810 20.7 % 23,848 8.0 % 29,810 10.0 % Tier I capital (to risk-weighted assets) 57,990 19.45 17,886 6.0 23,848 8.0 Common equity tier 1 capital (to risk-weighted assets) 57,990 19.45 16,172 4.5 23,360 6.5 Tier I capital (to adjusted total assets) 57,990 16.14 14,375 4.0 17,969 5.0 As of December 31, 2014 Total risk-based capital (to risk-weighted assets) 62,224 22.7 % 21,936 8.0 % 27,420 10.0 % Tier I capital (to risk-weighted assets) 58,763 21.4 10,968 4.0 16,452 6.0 Tier I capital (to adjusted total assets) 58,763 17.6 13,396 4.0 16,745 5.0 Dividend Restriction The Bank is subject to certain restrictions on the amount of dividends that it may declare without prior regulatory approval. At December 31, 2015, approximately $623 of retained earnings were available for dividend declaration without prior regulatory approval. |
Note 10 - Employee Benefits
Note 10 - Employee Benefits | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 10: Employee Benefits We have a retirement savings 401(k) plan covering substantially all employees. Employees may contribute up to 100% of their compensation with us matching 100% of the employee’s contribution on the first 3% of the employee’s compensation and 50% of the employee’s contributions that exceed 3% but does not exceed 5%. Additionally, we can make discretionary contributions to our 401 (k) plan. Employer contributions charged to expense for the years ended 2014 and 2014 were $75 and $73 respectively. Employee Stock Ownership Plan (ESOP) As part of the conversion, we established an ESOP covering substantially all of our employees. The ESOP acquired 200,600 shares of WBKC common stock at $10.00 per share in the conversion with funds provided by a loan from the Company. Accordingly, $2,006 of common stock acquired by the ESOP reduced stockholders’ equity. Shares are released to participants proportionately as the loan is repaid. Compensation expense is recorded equal to the fair market value of the stock when contributions, which are determined annually by our Board of Directors, are made to the ESOP. Dividends on allocated shares are recorded as dividends and charged to retained earnings. Dividends on unallocated shares are used to repay the loan. ESOP expense for the years ended December 31, 2015 and 2014 was $391 and $244, respectively. The ESOP shares as of December 31 were as follows: 2015 2014 Allocated shares 55,665 41,755 Unearned shares 141,255 156,458 Total ESOP shares 196,920 198,213 Fair value of unearned shares at December 31 $ 3,763 $ 3,747 We are obligated at the option of each beneficiary to repurchase shares of the ESOP upon the beneficiary’s termination or after retirement. At December 31, 2015 and 2014, the fair value of the 55,665 and 41,755 allocated shares held by the ESOP was $1,483 and $1,019. |
Note 11 - Disclosures about Fai
Note 11 - Disclosures about Fair Value of Assets and Liabilities | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 11: Disclosures About Fair Value of Assets and Liabilities ASC Topic 820, Fair Value Measurements Level 1 Level 2 Level 3 Following is a description of the valuation methodologies used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets under the valuation hierarchy. We have no assets or liabilities measured at fair value on a recurring basis and no liabilities measured at fair value on a nonrecurring basis. Impaired Loans (Collateral Dependent) The estimated fair value of collateral-dependent impaired loans is based on the appraised fair value of the collateral, less estimated cost to sell. Collateral-dependent impaired loans are classified within Level 3 of the fair value hierarchy. The Company considers the appraisal or evaluation as the starting point for determining fair value and then considers other factors and events in the environment that may affect the fair value. Appraisals of the collateral underlying collateral-dependent loans are obtained when the loan is determined to be collateral-dependent and subsequently as deemed necessary by management. Appraisals are reviewed for accuracy and consistency by management. Appraisers are selected from the list of approved appraisers maintained by management. The appraised values are reduced by discounts to consider lack of marketability and estimated cost to sell if repayment or satisfaction of the loan is dependent on the sale of the collateral. These discounts and estimates are developed by management by comparison to historical results. The following table presents the fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2015 and 2014: Fair Value Measurements Using Fair Quoted Prices Significant Significant December 31, 2014 Collateral-dependent Impaired loans $ 3,822 $ – $ – $ 3,822 Unobservable (Level 3) inputs The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill. Fair Value at December 31, 2015 Valuation Technique Unobservable Inputs Range December 31, 2014 Collateral-dependent Impaired loans $ 3,822 Market comparable properties Marketability discount 6% - 38% (7%) Fair Value of Financial Instruments The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2015. Fair Value Measurements Using As of December 31, 2015 Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Cash and cash equivalents $ 52,865 $ 52,865 $ - $ - Interest-earning time deposits 39,021 39,021 - - Held to maturity securities 500 - 500 - Loans held for sale 581 - 583 - Loans, net of allowance for loan losses 314,613 - - 318,525 Federal Home Loan Bank stock 2,700 - 2,700 - Interest receivable 967 - 967 - Financial liabilities Deposits $ 281,701 $ 117,916 $ - $ 165,657 Federal Home Loan Bank advances 47,000 - 46,390 - Federal funds purchased 24,000 - 24,000 - Interest payable 233 - 233 - Fair Value Measurements Using As of December 31, 2014 Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Cash and cash equivalents $ 29,686 $ 29,686 $ - $ - Loans held for sale 570 - 570 - Loans, net of allowance for loan losses 296,477 - - 299,514 Federal Home Loan Bank stock 2,500 - 2,500 - Interest receivable 777 - 777 - Financial liabilities Deposits $ 223,659 $ 114,418 $ - $ 110,560 Federal Home Loan Bank advances 50,000 - 50,567 - Interest payable 157 - 157 - The following methods and assumptions were used to estimate the fair value of all other financial instruments recognized in the accompanying consolidated balance sheets at amounts other than fair value. Cash and Cash Equivalents, Federal Home Loan Bank Stock, Federal Funds Purchased, Interest Receivable, and Interest Payable The carrying amount approximates fair value. Held to Maturity Securities Fair values equal quoted market prices, if available. If quoted market prices are not available, fair value is estimated based on quoted market prices of similar securities. Loans and Loans held for sale The fair value of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Loans with similar characteristics were aggregated for purposes of the calculations. Deposits Deposits include demand deposits, savings accounts, NOW accounts and certain money market deposits. The carrying amount approximates fair value. The fair value of fixed-maturity time deposits is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities. Federal Home Loan Bank Advances Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate the fair value of existing debt. Commitments to Originate Loans, Letters of Credit and Lines of Credit Loan commitments and letters-of-credit generally have short-term, variable rate features and contain clauses which limit the Company’s exposure to changes in customer credit quality. Accordingly, their carrying values, which are immaterial at the respective balance sheet dates, are reasonable estimates of fair value. |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 12: Commitments and Contingent Liabilities Some financial instruments, such as loan commitments, credit lines, letters of credit and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment. At year-end, these financial instruments are summarized as follows: 2015 2014 Commitments to extend credit $ 7,133 $ 17,393 Unused portions of lines of credit 6,778 5,790 Standby letters of credit 990 1,107 Commitments to make loans generally expire within thirty to ninety days, while unused lines of credit expire at the maturity date of the individual loans. |
Note 13 - Earnings Per Share
Note 13 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 13: Earnings Per Share (In thousands except per share amounts) Years ended December 31 2015 2014 Net Income $ 3,186 $ 2,683 Dividends and undistributed earnings allocated to participating securities (50 ) (52 ) Income attributable to common shareholders 3,136 2,631 Weighted average shares outstanding (in thousands) 2,200 2,276 Less: average unearned ESOP and unvested restricted stock (203 ) (220 ) Average Shares 1,997 2,056 Dilutive effect of share-based awards 25 14 Average common and common-equivalent shares for diluted EPS (in thousands) 2,022 2,070 Basic EPS $ 1.57 $ 1.28 Diluted EPS $ 1.55 $ 1.27 |
Note 14 - Share-based Compensat
Note 14 - Share-based Compensation | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 14: Share Based Compensation In May 2012, the Company’s stockholders approved the Wolverine Bancorp, Inc. 2012 Equity Incentive Plan (“Plan”) which provides for awards of stock options and restricted stock to key officers and outside directors. The cost of the Plan is based on the fair value of the awards on the grant date. The fair value of restricted stock awards is based on the closing price of the Company’s stock on the grant date. The fair value of stock options is estimated using a Black-Scholes option pricing model using assumptions for dividend yield, stock price volatility, risk-free interest rate, and option term. These assumptions are based on management’s judgments regarding future events, are subjective in nature, and contain uncertainties inherent in an estimate. The cost of the awards are being recognized on a straight-line basis over the five-year vesting period during which participants are required to provide services in exchange for the awards. Until such time as awards of stock are granted and vest or options are exercised, shares of the Company’s common stock under the Plan are authorized but unissued shares. The maximum number of shares authorized under the Plan is 351,050. Total share-based compensation expense pursuant to the Plan for the years ended December 31, 2015 and 2014 was $319 and $307, respectively. Stock Options The table below presents the stock option activity for the period shown: Options Weighted average exercise price Remaining contractual life (years) Aggregate intrinsic value Options outstanding at January 1, 2015 121,449 $ 17.45 8 $ 789 Granted 7,500 26.24 10 -- Exercised -- -- -- -- Forfeited -- -- -- -- Expired -- -- -- -- Options outstanding at December 31, 2015 128,949 $ 17.91 7 $ 1,123 Exercisable at December 31, 2015 71,912 $ 17.33 7 $ 669 The fair value of the Company’s stock options granted on May 30, 2015 was determined using the Black-Scholes option pricing formula. The following assumptions were used in the formula: Expected volatility 17.29 % Risk-free interest rate 2.00 % Expected dividend yield 3.43 % Expected life (in years) 7.50 Exercise price for the stock options $ 26.65 Grant date fair value $ 3.01 The fair value of the Company’s stock options granted on December 15, 2015 was determined using the Black-Scholes option pricing formula. The following assumptions were used in the formula: Expected volatility 18.60 % Risk-free interest rate 2.10 % Expected dividend yield 3.43 % Expected life (in years) 7.50 Exercise price for the stock options $ 26.06 Grant date fair value $ 3.28 Expected volatility — Based on the historical volatility of share price. Risk-free interest rate — Based on the U.S. Treasury yield curve and expected life of the options at the time of grant. Expected dividend yield — The Company currently does not pay a dividend; therefore, the expected dividend yield was estimated for the portion of the life of the options that the Company expects to pay a dividend. Expected life — Based on an average of the five year vesting period and the ten year contractual term of the stock option plan. Exercise price for the stock options — Based on the closing price of the Company’s stock on the date of grant. As of December 31, 2015, the Bank had $125 of unrecognized compensation expense related to stock options. The cost is expected to be recognized over a weighted-average period of 2.56 years. The total fair value of options vested in the year ended December 31, 2015 was $647. Stock option expense for the years ended December 31, 2015 and 2014 was $62 and $60, respectively. Restricted Stock Awards Restricted stock awards are accounted for as fixed grants using the fair value of the Company’s stock at the time of grant. Unvested restricted stock awards may not be disposed of or transferred during the vesting period. Restricted stock awards carry with them the right to receive dividends. The table below presents the restricted stock award activity for the period shown: Service- stock awards Weighted grant date fair value Non-vested at January 1, 2014 43,974 $ 17.44 Granted 7,000 26.24 Vested (14,440 ) 17.38 Forfeited - - Non-vested at December 31, 2015 36,534 $ 19.16 As of December 31, 2015, the Company had $600 of unrecognized compensation expense related to restricted stock awards. The cost of the restricted stock awards will be amortized in monthly installments over the five-year vesting period. Restricted stock expense for the years ended December 31, 2015 and 2014 were $257 and $247, respectively. |
Note 15 - Condensed Financial I
Note 15 - Condensed Financial Information (Parent Company Only) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 15: Condensed Financial Information (Parent Company Only) Presented below is condensed financial information as to financial position, results of operations and cash flows of the Company: Condensed Balance Sheets December 31, 2015 December 31, 2014 Assets Cash and cash equivalents $ 2,386 $ 990 Investment in subsidiary 60,073 60,490 Other assets 199 125 Total assets $ 62,658 $ 61,605 Liabilities - Other $ 2,178 $ 67 Stockholders' Equity 60,480 61,538 Total liabilities and stockholders' equity $ 62,658 $ 61,605 December 31, 2015 December 31, 2014 Income - Dividends from subsidiary $ 4,500 $ 3,000 Expense 260 325 Income (Loss) Before Income Tax and Equity Undistributed Income (Distribution in Excess of Income) 4,240 2,675 Income Tax Benefit 73 114 Income (Loss) Before Equity in Undistributed Income (Distribution in Excess of Income) 4,313 2,789 Equity in Undistributed Income (Distribution in Excess of Income) (1,127 ) (106 ) Net Income and Comprehensive Income $ 3,186 $ 2,683 Condensed Statements of Cash Flows December 31, 2015 December 31, 2014 Operating Activities Net income $ 3,186 $ 2,683 Items not requiring (providing) cash: Equity in (undistributed income) distributions in excess of income of subsidiaries 1,127 106 Change in other assets (74 ) (72 ) Change in other liabilities (47 ) (30 ) Net cash used in operating activities 4,192 2,687 Financing Activities Purchase of common stock (2,796 ) (807 ) Dividends paid - (1,260 ) Net cash used in financing activities (2,796 ) (2,067 ) Net Change in Cash and Cash Equivalents 1,396 620 Cash and Cash Equivalents, Beginning of Period 990 370 Cash and Cash Equivalents, End of Period $ 2,386 $ 990 Supplemental Disclosures of Cash Flows Information Dividends Declared, not paid $ 2,158 $ - |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Nature of Operations [Policy Text Block] | Nature of Operations Wolverine Bank (the “Bank”), a wholly owned subsidiary of Wolverine Bancorp, Inc. (the “Company”), is a federally chartered savings bank primarily engaged in providing a full range of banking and financial services to individual and business customers in the Great Lakes Bay Region and beyond. The Company is subject to competition from other financial institutions. The Company is subject to the regulation of the Federal Reserve Board and the Bank is subject to the regulation of the Officer of the Comptroller of the Currency, and both undergo periodic examinations. The Bank’s additional wholly owned subsidiaries, Wolserv Corporation, a Michigan corporation which has a membership interest in a title company, and Wolverine Commercial Holdings LLC, a Michigan LLC owned by Wolverine Bank which holds certain real estate, are included in the consolidated financial statements. |
Basis of Accounting, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans and financial instruments. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents We consider all liquid investments with original maturities of three months or less to be cash equivalents. |
Marketable Securities, Policy [Policy Text Block] | Securities Held-to-maturity securities, which include any security for which we have the positive intent and ability to hold until maturity, are carried at historical cost adjusted for amortization of premiums and accretion of discounts. Amortization of premiums and accretion of discounts are recorded as interest income from securities. Realized gains and losses are recorded as net security gains (losses). Gains and losses on securities are determined on the specific-identification method. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to noninterest income. Gains and losses on loan sales are recorded in noninterest income, and direct loan origination costs and fees are deferred at origination of the loan and are recognized in noninterest income upon sale of the loan. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoffs are reported at their outstanding principal balances adjusted for any charge-offs, the allowance for loan losses, any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term. Generally, loans are placed on nonaccrual status at ninety days past due and interest is considered a loss, unless the loan is well-secured. Accrued interest for loans placed on nonaccrual status is reversed against interest income. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is based on historical charge-off experience and expected loss given default derived from our internal risk rating process. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data. A loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent. Groups of loans with similar risk characteristics are collectively evaluated for impairment based on the group’s historical loss experience adjusted for changes in trends, conditions and other relevant factors that affect repayment of the loans. Accordingly, we do not separately identify individual consumer and residential loans for impairment measurements, unless such loans are the subject of a restructuring agreement due to financial difficulties of the borrower. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Depreciable assets are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line and accelerated methods over the estimated useful lives of the assets ranging from 3 to 39 years. |
Federal Home Loan Bank Stock [Policy Text Block] | Federal Home Loan Bank Stock Federal Home Loan Bank stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in the common stock is based on a predetermined formula, carried at cost, and evaluated for impairment. |
Real Estate Owned [Policy Text Block] | Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in net income or expense from foreclosed assets. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Common Share Basic earnings per common share (“EPS”) excludes dilution and is computed by dividing net income applicable to common stock by the weighted average number of common shares outstanding for the year. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock (such as stock options) were exercised or converted into additional common shares that would then share in the earnings of the entity. Diluted EPS is computed by dividing net income applicable to common stock by the weighted average number of common shares outstanding for the year, plus an incremental number of common-equivalent shares computed using the treasury stock method. Unvested share-based payment awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered to participate with common stock in undistributed earnings for purposes of computing EPS. Accordingly, the Company is required to calculate basic and diluted EPS using the two-class method. Restricted stock awards granted by the Company are considered participating securities. Calculations of EPS under the two-class method (i) exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities and (ii) exclude from the denominator the dilutive impact of the participating securities. Unearned ESOP shares, which are not vested, and unvested restricted stock awards are excluded from the computation of average shares outstanding. |
Income Tax, Policy [Policy Text Block] | Income Taxes We account for income taxes in accordance with income tax accounting guidance (ASC 740, Income Taxes expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. We determine deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. We recognize interest and penalties on income taxes as a component of income tax expense. We file consolidated income tax returns with our subsidiaries. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards FASB Accounting Standards Updates No. 2016-02, Leases (Topic 842) The FASB has issued this Update to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. To meet that objective, the FASB is amending the FASB Accounting Standards Codification® and creating Topic 842, Leases. The amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, for any of the following: 1. A public business entity 2. A not-for-profit entity that has issued, or is a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an over the-counter market 3. An employee benefit plan that files financial statements with the U.S. Securities and Exchange Commission (SEC). For all other entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early application of the amendments in this Update is permitted for all entities. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. FASB Accounting Standards Updates No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The FASB has issued Accounting Standards Update (ASU) No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The new guidance makes targeted improvements to existing U.S. GAAP by: ● Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; ● Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; ● Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; ● Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities; ● Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and ● Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance permits early adoption of the own credit provision. In addition, the new guidance permits early adoption of the provision that exempts private companies and not-for-profit organizations from having to disclose fair value information about financial instruments measured at amortized cost. Adoption of the FASB Accounting Standards Update No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments The FASB has issued Accounting Standards Update (ASU) No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. U.S. GAAP currently requires that during the measurement period, the acquirer retrospectively adjust the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill. Those adjustments are required when new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts initially recognized or would have resulted in the recognition of additional assets or liabilities. The acquirer also must revise comparative information for prior periods presented in financial statements as needed, including revising depreciation, amortization, or other income effects as a result of changes made to provisional amounts. The amendments require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The amendments require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. The only disclosures required at transition should be the nature of and reason for the change in accounting principle. An entity should disclose that information in the first annual period of adoption and in the interim periods within the first annual period if there is a measurement-period adjustment during the first annual period in which the changes are effective. FASB Accounting Standards Update No. 2015-15, Interest—Imputation of Interest (Subtopic 835-30), Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements The FASB has issued Accounting Standards Update (ASU) No. 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, Given the absence of authoritative guidance within ASU 2015-03 for debt issuance costs related to line-of-credit arrangements, the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. FASB Accounting Standards Update No. 2015-03, Interest— Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs The FASB has issued Accounting Standards Update (ASU) No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments should be applied on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. These disclosures include the nature of and reason for the change in accounting principle, the transition method, a description of the prior-period information For public business entities, the amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of the amendments is permitted for financial statements that have not been previously issued. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. FASB Accounting Standards Update No. 2015-01, Eliminating the Concept of Extraordinary Items The FASB has issued Accounting Standards Update (ASU) No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. This ASU eliminates from U.S. GAAP the concept of extraordinary items. Subtopic 225-20, Income Statement - Extraordinary and Unusual Items, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. If an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Held-to-maturity Securities [Table Text Block] | Amortized Gross Gross Approximate Held to Maturity Securities: December 31, 2015 Treasury bond $ 500 $ – $ – $ 500 |
Note 4 - Loans and Allowance 25
Note 4 - Loans and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2015 December 31, 2014 Real Estate One-to four-family $ 39,719 $ 44,316 Home Equity 5,459 6,645 Commercial mortgage loans Commercial real estate 183,934 153,705 Multifamily 58,804 61,204 Land 12,543 10,060 Construction 14,785 21,673 Commercial Non-mortgage 14,826 14,717 Consumer 1,221 1,142 Total loans 331,291 313,462 Less Net deferred loan fees, premiums and discounts 567 555 Undisbursed portion of loans 6,050 8,454 Allowance for loan losses 10,061 7,976 Net Loans $ 314,613 $ 296,477 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Loan Class 1-4 Family Home Equity Commercial Real Estate Multifamily Land Construction Commercial Non-Mortgage Consumer Total Year to date analysis as of December 31, 2015 Allowance for loan losses: Balance, beginning of period $ 881 $ 100 $ 3,573 $ 1,391 $ 1,205 $ 539 $ 269 $ 18 $ 7,976 Provision charged to expense 79 8 72 124 374 65 75 3 800 Losses charged off (45 ) - - - - - - (1 ) (46 ) Recoveries 33 - 1,268 - 26 - - 4 1,331 Balance, end of period $ 948 $ 108 $ 4,913 $ 1,515 $ 1,605 $ 604 $ 344 $ 24 $ 10,061 Ending Balance: individually evaluated for impairment $ - $ - $ 200 $ 100 $ 850 $ - $ - $ - $ 1,150 Ending balance: collectively evaluated for impairment $ 948 $ 108 $ 4,713 $ 1,415 $ 755 $ 604 $ 344 $ 24 $ 8,911 Loans: Ending Balance $ 39,719 $ 5,459 $ 183,934 $ 58,804 $ 12,543 $ 14,785 $ 14,826 $ 1,221 $ 331,291 Ending Balance: individually evaluated for impairment $ 1,504 $ - $ 12,280 $ 7,877 $ 1,883 $ - $ 295 $ - $ 23,839 Ending balance: collectively evaluated for impairment $ 38,215 $ 5,459 $ 171,654 $ 50,927 $ 10,660 $ 14,785 $ 14,531 $ 1,221 $ 307,452 Loan Class 1-4 Family Home Equity Commercial Real Estate Multifamily Land Construction Commercial Non-Mortgage Consumer Total Year to date analysis as of December 31, 2014 Allowance for loan losses: Balance, beginning of period $ 1,354 $ 251 $ 2,861 $ 1,514 $ 1,145 $ 285 $ 157 $ 30 $ 7,597 Provision charged to expense (475 ) (151 ) 702 (123 ) (33 ) 1,004 112 (16 ) 1,020 Losses charged off (55 ) - - - - (750 ) - (1 ) (806 ) Recoveries 57 - 10 - 93 - - 5 165 Balance, end of period $ 881 $ 100 $ 3,573 $ 1,391 $ 1,205 $ 539 $ 269 $ 18 $ 7,976 Ending Balance: individually evaluated for impairment $ - $ - $ 200 $ 100 $ 850 $ - $ - $ - $ 1,150 Ending balance: collectively evaluated for impairment $ 881 $ 100 $ 3,373 $ 1,291 $ 355 $ 539 $ 269 $ 18 $ 6,826 Loans: Ending Balance $ 44,316 $ 6,645 $ 153,705 $ 61,204 $ 10,060 $ 21,673 $ 14,717 $ 1,142 $ 313,462 Ending Balance: individually evaluated for impairment $ 1,645 $ 63 $ 8,956 $ 8,192 $ 3,224 $ 5,349 $ 351 $ - $ 27,780 Ending balance: collectively evaluated for impairment $ 42,671 $ 6,582 $ 144,749 $ 53,012 $ 6,836 $ 16,324 $ 14,366 $ 1,142 $ 285,682 |
Financing Receivable Credit Quality Indicators [Table Text Block] | 1-4 Family Home Equity Commercial Real Estate Multifamily 2015 2014 2015 2014 2015 2014 2015 2014 Pass $ 36,941 $ 40,253 $ 5,459 $ 6,645 $ 150,122 $ 131,833 $ 46,230 $ 47,308 Pass (Closely Monitored) 1,437 2,446 - - 21,156 10,446 8,142 9,244 Special Mention 225 413 - - 751 2,383 - - Substandard 1,116 1,204 - - 11,905 9,043 4,432 4,652 Doubtful - - - - - - - - Loss - - - - - - - - $ 39,719 $ 44,316 $ 5,459 $ 6,645 $ 183,934 $ 153,705 $ 58,804 $ 61,204 Land Construction Commercial Non-Mortgage Consumer Total 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Pass $ 9,462 $ 5,160 $ 14,785 $ 18,213 $ 9,626 $ 14,023 $ 1,221 $ 1,142 $ 273,846 $ 264,577 Pass (Closely Monitored) 1,239 2,156 - - 4,904 343 - - 36,878 24,635 Special Mention - - - - - 19 - - 976 2,815 Substandard 1,842 2,744 - 3,460 296 332 - - 19,591 21,435 Doubtful - - - - - - - - - - Loss - - - - - - - - - - $ 12,543 $ 10,060 $ 14,785 $ 21,673 $ 14,826 $ 14,717 $ 1,221 $ 1,142 $ 331,291 $ 313,462 |
Past Due Financing Receivables [Table Text Block] | As of December 31, 2015 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Receivable Total Loans >90 Days & Accruing Total Nonaccrual 1-4 Family $ 151 $ 152 $ - $ 303 $ 39,416 $ 39,719 $ - $ 99 Home Equity - - - - 5,459 5,459 - - Commercial Real Estate 6 1,011 - 1,017 182,917 183,934 - 5,188 Multifamily 1,291 - - 1,291 57,513 58,804 - - Land - - 1,842 1,842 10,701 12,543 - 1,842 Construction - - - - 14,785 14,785 - - Commercial Non-Mortgage - - - - 14,826 14,826 - - Consumer - - - - 1,221 1,221 - - Total $ 1,448 $ 1,163 $ 1,842 $ 4,453 $ 326,838 $ 331,291 $ - $ 7,129 As of December 31, 2014 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Receivable Total Loans >90 Days & Accruing Total Nonaccrual 1-4 Family $ 334 $ 152 $ 107 $ 593 $ 43,723 $ 44,316 $ - $ 107 Home Equity - - - - 6,645 6,645 - - Commercial Real Estate 818 634 649 2,101 151,604 153,705 - 1,339 Multifamily - - - - 61,204 61,204 - - Land - - 2,700 2,700 7,360 10,060 - 2,700 Construction 3,960 - - 3,960 17,713 21,673 - 3,960 Commercial Non-Mortgage - - 19 19 14,698 14,717 - 19 Consumer - - - - 1,142 1,142 - - Total $ 5,112 $ 786 $ 3,475 $ 9,373 $ 304,089 $ 313,462 $ - $ 8,125 |
Impaired Financing Receivables [Table Text Block] | Unpaid Recorded Principal Specific YTD Average YTD Interest Balance Balance Allowance Balance Income Loans without a specific valuation allowance: 1-4 Family $ 1,504 $ 1,633 $ - $ 1,791 $ 80 Home Equity - - - 15 - Commercial real estate 9,912 11,820 - 10,508 289 Multi Family 6,586 7,400 - 6,685 359 Land 41 96 - 371 22 Construction - - - - - Commercial Non-Mortgage 295 295 - 311 22 Consumer - - - - - Loans with a specific valuation allowance: 1-4 Family $ - $ - $ - $ - $ - Home Equity - - - - - Commercial real estate 2,368 2,368 200 2,499 175 Multi Family 1,291 1,291 100 1,319 77 Land 1,842 3,640 850 2,115 - Construction - - - - - Commercial Non-Mortgage - - - - - Consumer - - - - - Totals 1-4 Family $ 1,504 $ 1,633 $ - $ 1,791 $ 80 Home Equity - - - 15 - Commercial real estate 12,280 14,188 200 13,007 464 Multi Family 7,877 8,691 100 8,004 436 Land 1,883 3,736 850 2,486 22 Construction - - - - - Commercial Non-Mortgage 295 295 - 311 22 Consumer - - - - - Total $ 23,839 $ 28,543 $ 1,150 $ 25,614 $ 1,024 Recorded Balance Unpaid Principal Balance Specific Allowance YTD Average Balance YTD Interest Income Loans without a specific valuation allowance: 1-4 Family $ 1,467 $ 1,643 $ - $ 1,472 $ 77 Home Equity 63 63 - 65 2 Commercial real estate 6,029 8,309 - 6,680 323 Multi Family 6,847 7,661 - 6,941 392 Land 524 805 - 504 4 Construction 5,349 4,712 - 3,664 57 Commercial Non-Mortgage 19 19 - 137 5 Consumer - - - - - Loans with a specific valuation allowance: 1-4 Family $ 178 $ 178 $ - $ 180 $ 8 Home Equity - - - - - Commercial real estate 2,927 2,927 200 3,000 200 Multi Family 1,345 1,345 100 1,355 83 Land 2,700 4,060 850 3,044 1 Construction - - - 2,674 107 Commercial Non-Mortgage 332 332 - 343 18 Consumer - - - - - Totals 1-4 Family $ 1,645 $ 1,821 $ - $ 1,652 $ 85 Home Equity 63 63 - 65 2 Commercial real estate 8,956 11,236 200 9,680 523 Multi Family 8,192 9,006 100 8,296 475 Land 3,224 4,865 850 3,548 5 Construction 5,349 4,712 - 6,338 164 Commercial Non-Mortgage 351 351 - 480 23 Consumer - - - - - Total $ 27,780 $ 32,054 $ 1,150 $ 30,059 $ 1,277 |
Schedule of Debtor Troubled Debt Restructuring, Current Period [Table Text Block] | Twelve Months Ended December 31, 2015 Count Balance prior to TDR Balance after (Dollars in thousands) Commercial real estate 3 $ 817 $ 817 Total 3 $ 817 $ 817 Twelve Months Ended December 31, 2014 Count Balance prior to TDR Balance after (Dollars in thousands) Construction 1 $ 4,710 $ 4,710 Land 1 614 614 Total 2 $ 5,324 $ 5,324 |
Summary of Troubled Debt Restructuring Note, Debtor [Table Text Block] | As of December 31, 2015 Payment Extension Rate Reduction Combination Totals Number Amount Number Amount Number Amount 1-4 Family - $ - - $ - - $ - $ -- Home Equity - - - - - - - Commercial Real Estate - - - - 3 817 817 Multifamily - - - - - - - Land - - - - - - - Construction - - - - - - - Commercial Non-Mortgage - - - - - - - Consumer - - - - - - - Total - - $ - - - $ - - 3 $ 817 $ 817 As of December 31, 2014 Payment Extension Rate Reduction Combination Totals Number Amount Number Amount Number Amount 1-4 Family - $ - - $ - - $ - $ -- Home Equity - - - - - - - Commercial Real Estate - - - - - - - Multifamily - - - - - - - Land - - - - 1 614 614 Construction 1 4,710 - - - - 4,710 Commercial Non-Mortgage - - - - - - - Consumer - - - - - - - Total 1 $ 4,710 - $ - 1 $ 614 $ 5,324 |
Note 5 - Premises and Equipme26
Note 5 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | 2015 2014 Land $ 514 $ 514 Buildings and improvements 3,146 3,146 Furniture, fixtures, and equipment 3,308 3,172 6,968 6,832 Less accumulated depreciation (5,683 ) (5,448 ) Net premises and equipment $ 1,285 $ 1,384 |
Note 6 - Deposits (Tables)
Note 6 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Deposits [Table Text Block] | 2015 2014 Savings accounts $ 13,626 $ 13,249 Checking accounts 33,934 33,819 Money market accounts 70,356 67,349 Certificates of deposit 163,785 109,112 Total Deposits $ 281,701 $ 223,529 |
Scheduled Maturities of Certificates of Deposits [Text Block] | 2016 86,772 2017 33,067 2018 17,723 2019 15,877 2020 9,532 Thereafter 814 Total 163,785 |
Note 7 - Federal Home Loan Ba28
Note 7 - Federal Home Loan Bank Advances (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Contractual Maturity Dates for Federal Home Loan Bank Advances Table [Text Block] | 2016 - 2017 10,000,000 2018 5,000,000 2019 - 2020 10,000,000 Thereafter 22,000,000 Total $ 47,000,000 |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2015 2014 Taxes currently payable $ 1,759 $ 1,540 Deferred income taxes (215 ) (114 ) Income tax expense $ 1,544 $ 1,426 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2015 2014 Computed at the statutory rate (34%) $ 1,608 $ 1,397 Increase (decrease) resulting from Tax exempt interest (49 ) (49 ) Other (15 ) 78 Actual tax expense $ 1,544 $ 1,426 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2015 2014 Deferred tax asset Allowance for loan losses $ 2,984 $ 2,712 Depreciation 134 125 Deferred loan fees 195 191 Deferred compensation 197 189 Real estate owned 27 1 Other 62 166 3,599 3,384 Deferred tax liabilities FHLB stock dividends 31 31 Net deferred tax asset $ 3,568 $ 3,353 |
Note 9 - Regulatory Matters (Ta
Note 9 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under the Basel III Capital Rules | 4.5% CET1 to risk-weighted assets 6.0% Tier 1 capital to risk-weighted assets 8.0% Total capital to risk-weighted assets 4.0% Minimum leverage ratio |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2015 Total risk-based capital (to risk-weighted assets) 61,810 20.7 % 23,848 8.0 % 29,810 10.0 % Tier I capital (to risk-weighted assets) 57,990 19.45 17,886 6.0 23,848 8.0 Common equity tier 1 capital (to risk-weighted assets) 57,990 19.45 16,172 4.5 23,360 6.5 Tier I capital (to adjusted total assets) 57,990 16.14 14,375 4.0 17,969 5.0 As of December 31, 2014 Total risk-based capital (to risk-weighted assets) 62,224 22.7 % 21,936 8.0 % 27,420 10.0 % Tier I capital (to risk-weighted assets) 58,763 21.4 10,968 4.0 16,452 6.0 Tier I capital (to adjusted total assets) 58,763 17.6 13,396 4.0 16,745 5.0 |
Note 10 - Employee Benefits (Ta
Note 10 - Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Employee Stock Ownership Plan ESOP Share Allocation Table [Text Block] | 2015 2014 Allocated shares 55,665 41,755 Unearned shares 141,255 156,458 Total ESOP shares 196,920 198,213 Fair value of unearned shares at December 31 $ 3,763 $ 3,747 |
Note 11 - Disclosures about F32
Note 11 - Disclosures about Fair Value of Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements Using Fair Quoted Prices Significant Significant December 31, 2014 Collateral-dependent Impaired loans $ 3,822 $ – $ – $ 3,822 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Fair Value at December 31, 2015 Valuation Technique Unobservable Inputs Range December 31, 2014 Collateral-dependent Impaired loans $ 3,822 Market comparable properties Marketability discount 6% - 38% (7%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements Using As of December 31, 2015 Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Cash and cash equivalents $ 52,865 $ 52,865 $ - $ - Interest-earning time deposits 39,021 39,021 - - Held to maturity securities 500 - 500 - Loans held for sale 581 - 583 - Loans, net of allowance for loan losses 314,613 - - 318,525 Federal Home Loan Bank stock 2,700 - 2,700 - Interest receivable 967 - 967 - Financial liabilities Deposits $ 281,701 $ 117,916 $ - $ 165,657 Federal Home Loan Bank advances 47,000 - 46,390 - Federal funds purchased 24,000 - 24,000 - Interest payable 233 - 233 - Fair Value Measurements Using As of December 31, 2014 Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Cash and cash equivalents $ 29,686 $ 29,686 $ - $ - Loans held for sale 570 - 570 - Loans, net of allowance for loan losses 296,477 - - 299,514 Federal Home Loan Bank stock 2,500 - 2,500 - Interest receivable 777 - 777 - Financial liabilities Deposits $ 223,659 $ 114,418 $ - $ 110,560 Federal Home Loan Bank advances 50,000 - 50,567 - Interest payable 157 - 157 - |
Note 12 - Commitments and Con33
Note 12 - Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | 2015 2014 Commitments to extend credit $ 7,133 $ 17,393 Unused portions of lines of credit 6,778 5,790 Standby letters of credit 990 1,107 |
Note 13 - Earnings Per Share (T
Note 13 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years ended December 31 2015 2014 Net Income $ 3,186 $ 2,683 Dividends and undistributed earnings allocated to participating securities (50 ) (52 ) Income attributable to common shareholders 3,136 2,631 Weighted average shares outstanding (in thousands) 2,200 2,276 Less: average unearned ESOP and unvested restricted stock (203 ) (220 ) Average Shares 1,997 2,056 Dilutive effect of share-based awards 25 14 Average common and common-equivalent shares for diluted EPS (in thousands) 2,022 2,070 Basic EPS $ 1.57 $ 1.28 Diluted EPS $ 1.55 $ 1.27 |
Note 14 - Share-based Compens35
Note 14 - Share-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Weighted average exercise price Remaining contractual life (years) Aggregate intrinsic value Options outstanding at January 1, 2015 121,449 $ 17.45 8 $ 789 Granted 7,500 26.24 10 -- Exercised -- -- -- -- Forfeited -- -- -- -- Expired -- -- -- -- Options outstanding at December 31, 2015 128,949 $ 17.91 7 $ 1,123 Exercisable at December 31, 2015 71,912 $ 17.33 7 $ 669 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Expected volatility 17.29 % Risk-free interest rate 2.00 % Expected dividend yield 3.43 % Expected life (in years) 7.50 Exercise price for the stock options $ 26.65 Grant date fair value $ 3.01 Expected volatility 18.60 % Risk-free interest rate 2.10 % Expected dividend yield 3.43 % Expected life (in years) 7.50 Exercise price for the stock options $ 26.06 Grant date fair value $ 3.28 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Service- stock awards Weighted grant date fair value Non-vested at January 1, 2014 43,974 $ 17.44 Granted 7,000 26.24 Vested (14,440 ) 17.38 Forfeited - - Non-vested at December 31, 2015 36,534 $ 19.16 |
Note 15 - Condensed Financial36
Note 15 - Condensed Financial Information (Parent Company Only) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet [Table Text Block] | December 31, 2015 December 31, 2014 Assets Cash and cash equivalents $ 2,386 $ 990 Investment in subsidiary 60,073 60,490 Other assets 199 125 Total assets $ 62,658 $ 61,605 Liabilities - Other $ 2,178 $ 67 Stockholders' Equity 60,480 61,538 Total liabilities and stockholders' equity $ 62,658 $ 61,605 |
Condensed Income Statement [Table Text Block] | December 31, 2015 December 31, 2014 Income - Dividends from subsidiary $ 4,500 $ 3,000 Expense 260 325 Income (Loss) Before Income Tax and Equity Undistributed Income (Distribution in Excess of Income) 4,240 2,675 Income Tax Benefit 73 114 Income (Loss) Before Equity in Undistributed Income (Distribution in Excess of Income) 4,313 2,789 Equity in Undistributed Income (Distribution in Excess of Income) (1,127 ) (106 ) Net Income and Comprehensive Income $ 3,186 $ 2,683 |
Condensed Cash Flow Statement [Table Text Block] | December 31, 2015 December 31, 2014 Operating Activities Net income $ 3,186 $ 2,683 Items not requiring (providing) cash: Equity in (undistributed income) distributions in excess of income of subsidiaries 1,127 106 Change in other assets (74 ) (72 ) Change in other liabilities (47 ) (30 ) Net cash used in operating activities 4,192 2,687 Financing Activities Purchase of common stock (2,796 ) (807 ) Dividends paid - (1,260 ) Net cash used in financing activities (2,796 ) (2,067 ) Net Change in Cash and Cash Equivalents 1,396 620 Cash and Cash Equivalents, Beginning of Period 990 370 Cash and Cash Equivalents, End of Period $ 2,386 $ 990 Supplemental Disclosures of Cash Flows Information Dividends Declared, not paid $ 2,158 $ - |
Note 1 - Nature of Operations37
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details) [Line Items] | |
Cash Equivalents Maturity Period Maximum | 3 months |
Loans Contractually Past Due Before Being Placed on Nonaccrual Status Period | 90 days |
Minimum [Member] | |
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Maximum [Member] | |
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 39 years |
Note 2 - Restriction on Cash 38
Note 2 - Restriction on Cash and Due from Banks (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Note 2 - Restriction on Cash and Due from Banks (Details) [Line Items] | |
Cash, FDIC Insured Amount | $ 493 |
Cash, Uninsured Amount | 16,606 |
Federal Home Loan Bank of Indianapolis [Member] | |
Note 2 - Restriction on Cash and Due from Banks (Details) [Line Items] | |
Cash Deposits in Affiliated Bank | 1,497 |
Federal Home Loan Bank of Chicago [Member] | |
Note 2 - Restriction on Cash and Due from Banks (Details) [Line Items] | |
Cash Deposits in Affiliated Bank | $ 32,753 |
Note 3 - Securities (Details)
Note 3 - Securities (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | ||
Held-to-maturity Securities, Sold Security, at Carrying Value | $ 0 | $ 0 |
Note 3 - Securities (Details) -
Note 3 - Securities (Details) - Summary of Amortized Cost and Approximate Fair Values of Held to Maturity Securities $ in Thousands | Dec. 31, 2015USD ($) |
Held to Maturity Securities: | |
Treasury bond | $ 500 |
US Treasury Bond Securities [Member] | |
Held to Maturity Securities: | |
Treasury bond | 500 |
Treasury bond | 0 |
Treasury bond | 0 |
Treasury bond | $ 500 |
Note 4 - Loans and Allowance 41
Note 4 - Loans and Allowance for Loan Losses (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||
Maximum Period for Construction Loans | 9 months | |
Percentage of Construction Loans for Commercial Real Estate of Loan to Completed Appraised Value Ratio | 70.00% | |
Charge Down to Net Realizable Value | 120 days | |
Minimum Realizable Period for New Loan into Accrual Status under Performance with New Loan Terms | 6 months | |
Loans and Leases Receivable, Related Parties | $ 7,310,000 | $ 7,872,000 |
Loans and Leases Receivable, Related Parties, Additions | 5,000,000 | |
Loans and Leases Receivable, Related Parties, Collections | $ 5,562 | |
Minimum Period for Realizable of Troubled Debt Restructuring Loans into Nonaccrual Status or Default Loans | 90 days | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | |
Minimum [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||
Period for Discontinuation of Accrual of Interest on All Loan Classes | 6 months |
Note 4 - Loans and Allowance 42
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans by Categories of Loans Class - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Real Estate | ||
Total loans | $ 331,291 | $ 313,462 |
Less | ||
Net deferred loan fees, premiums and discounts | 567 | 555 |
Undisbursed portion of loans | 6,050 | 8,454 |
Allowance for loan losses | 10,061 | 7,976 |
Net Loans | 314,613 | 296,477 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | ||
Real Estate | ||
Total loans | 39,719 | 44,316 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Real Estate | ||
Total loans | 5,459 | 6,645 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Real Estate | ||
Total loans | 183,934 | 153,705 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Real Estate | ||
Total loans | 58,804 | 61,204 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | ||
Real Estate | ||
Total loans | 12,543 | 10,060 |
Construction Portfolio Segment [Member] | ||
Real Estate | ||
Total loans | 14,785 | 21,673 |
Commercial Portfolio Segment [Member] | ||
Real Estate | ||
Total loans | 14,826 | 14,717 |
Consumer Portfolio Segment [Member] | ||
Real Estate | ||
Total loans | $ 1,221 | $ 1,142 |
Note 4 - Loans and Allowance 43
Note 4 - Loans and Allowance for Loan Losses (Details) - Financing Receivables and Allowance for Credit Losses on Financing Receivables - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Allowance for loan losses: | ||
Balance, beginning of year | $ 7,976 | $ 7,597 |
Provision charged to expense | 800 | 1,020 |
Losses charged off | (46) | (806) |
Recoveries | 1,331 | 165 |
Balance, end of period | 10,061 | 7,976 |
Ending Balance, individually evaluated for impairment | 1,150 | 1,150 |
Loans, Ending Balance, collectively evaluated for impairment | 8,911 | 6,826 |
Loans: | ||
Loans, Ending Balance | 331,291 | 313,462 |
Loans, Ending Balance, individually evaluated for impairment | 23,839 | 27,780 |
Ending balance, collectively evaluated for impairment | 307,452 | 285,682 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | ||
Allowance for loan losses: | ||
Balance, beginning of year | 881 | 1,354 |
Provision charged to expense | 79 | (475) |
Losses charged off | (45) | (55) |
Recoveries | 33 | 57 |
Balance, end of period | 948 | 881 |
Ending Balance, individually evaluated for impairment | 0 | 0 |
Loans, Ending Balance, collectively evaluated for impairment | 948 | 881 |
Loans: | ||
Loans, Ending Balance | 39,719 | 44,316 |
Loans, Ending Balance, individually evaluated for impairment | 1,504 | 1,645 |
Ending balance, collectively evaluated for impairment | 38,215 | 42,671 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Allowance for loan losses: | ||
Balance, beginning of year | 100 | 251 |
Provision charged to expense | 8 | (151) |
Losses charged off | 0 | 0 |
Recoveries | 0 | 0 |
Balance, end of period | 108 | 100 |
Ending Balance, individually evaluated for impairment | 0 | 0 |
Loans, Ending Balance, collectively evaluated for impairment | 108 | 100 |
Loans: | ||
Loans, Ending Balance | 5,459 | 6,645 |
Loans, Ending Balance, individually evaluated for impairment | 0 | 63 |
Ending balance, collectively evaluated for impairment | 5,459 | 6,582 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Allowance for loan losses: | ||
Balance, beginning of year | 3,573 | 2,861 |
Provision charged to expense | 72 | 702 |
Losses charged off | 0 | 0 |
Recoveries | 1,268 | 10 |
Balance, end of period | 4,913 | 3,573 |
Ending Balance, individually evaluated for impairment | 200 | 200 |
Loans, Ending Balance, collectively evaluated for impairment | 4,713 | 3,373 |
Loans: | ||
Loans, Ending Balance | 183,934 | 153,705 |
Loans, Ending Balance, individually evaluated for impairment | 12,280 | 8,956 |
Ending balance, collectively evaluated for impairment | 171,654 | 144,749 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Allowance for loan losses: | ||
Balance, beginning of year | 1,391 | 1,514 |
Provision charged to expense | 124 | (123) |
Losses charged off | 0 | 0 |
Recoveries | 0 | 0 |
Balance, end of period | 1,515 | 1,391 |
Ending Balance, individually evaluated for impairment | 100 | 100 |
Loans, Ending Balance, collectively evaluated for impairment | 1,415 | 1,291 |
Loans: | ||
Loans, Ending Balance | 58,804 | 61,204 |
Loans, Ending Balance, individually evaluated for impairment | 7,877 | 8,192 |
Ending balance, collectively evaluated for impairment | 50,927 | 53,012 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | ||
Allowance for loan losses: | ||
Balance, beginning of year | 1,205 | 1,145 |
Provision charged to expense | 374 | (33) |
Losses charged off | 0 | 0 |
Recoveries | 26 | 93 |
Balance, end of period | 1,605 | 1,205 |
Ending Balance, individually evaluated for impairment | 850 | 850 |
Loans, Ending Balance, collectively evaluated for impairment | 755 | 355 |
Loans: | ||
Loans, Ending Balance | 12,543 | 10,060 |
Loans, Ending Balance, individually evaluated for impairment | 1,883 | 3,224 |
Ending balance, collectively evaluated for impairment | 10,660 | 6,836 |
Construction Portfolio Segment [Member] | ||
Allowance for loan losses: | ||
Balance, beginning of year | 539 | 285 |
Provision charged to expense | 65 | 1,004 |
Losses charged off | 0 | (750) |
Recoveries | 0 | 0 |
Balance, end of period | 604 | 539 |
Ending Balance, individually evaluated for impairment | 0 | 0 |
Loans, Ending Balance, collectively evaluated for impairment | 604 | 539 |
Loans: | ||
Loans, Ending Balance | 14,785 | 21,673 |
Loans, Ending Balance, individually evaluated for impairment | 0 | 5,349 |
Ending balance, collectively evaluated for impairment | 14,785 | 16,324 |
Commercial Portfolio Segment [Member] | ||
Allowance for loan losses: | ||
Balance, beginning of year | 269 | 157 |
Provision charged to expense | 75 | 112 |
Losses charged off | 0 | 0 |
Recoveries | 0 | 0 |
Balance, end of period | 344 | 269 |
Ending Balance, individually evaluated for impairment | 0 | 0 |
Loans, Ending Balance, collectively evaluated for impairment | 344 | 269 |
Loans: | ||
Loans, Ending Balance | 14,826 | 14,717 |
Loans, Ending Balance, individually evaluated for impairment | 295 | 351 |
Ending balance, collectively evaluated for impairment | 14,531 | 14,366 |
Consumer Portfolio Segment [Member] | ||
Allowance for loan losses: | ||
Balance, beginning of year | 18 | 30 |
Provision charged to expense | 3 | (16) |
Losses charged off | (1) | (1) |
Recoveries | 4 | 5 |
Balance, end of period | 24 | 18 |
Ending Balance, individually evaluated for impairment | 0 | 0 |
Loans, Ending Balance, collectively evaluated for impairment | 24 | 18 |
Loans: | ||
Loans, Ending Balance | 1,221 | 1,142 |
Loans, Ending Balance, individually evaluated for impairment | 0 | 0 |
Ending balance, collectively evaluated for impairment | $ 1,221 | $ 1,142 |
Note 4 - Loans and Allowance 44
Note 4 - Loans and Allowance for Loan Losses (Details) - Credit Risk Profile of Our Loan Portfolio Based on Rating Category and Payment Activity - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | $ 331,291 | $ 313,462 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 273,846 | 264,577 |
Pass Closely Monitored [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 36,878 | 24,635 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 976 | 2,815 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 19,591 | 21,435 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 39,719 | 44,316 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 36,941 | 40,253 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Pass Closely Monitored [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 1,437 | 2,446 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 225 | 413 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 1,116 | 1,204 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 5,459 | 6,645 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 5,459 | 6,645 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Pass Closely Monitored [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 183,934 | 153,705 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 150,122 | 131,833 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Pass Closely Monitored [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 21,156 | 10,446 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 751 | 2,383 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 11,905 | 9,043 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 58,804 | 61,204 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 46,230 | 47,308 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Pass Closely Monitored [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 8,142 | 9,244 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 4,432 | 4,652 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 12,543 | 10,060 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 9,462 | 5,160 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Pass Closely Monitored [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 1,239 | 2,156 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 1,842 | 2,744 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 14,785 | 21,673 |
Construction Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 14,785 | 18,213 |
Construction Portfolio Segment [Member] | Pass Closely Monitored [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Construction Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Construction Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 3,460 |
Construction Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Construction Portfolio Segment [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 14,826 | 14,717 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 9,626 | 14,023 |
Commercial Portfolio Segment [Member] | Pass Closely Monitored [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 4,904 | 343 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 19 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 296 | 332 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Commercial Portfolio Segment [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 1,221 | 1,142 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 1,221 | 1,142 |
Consumer Portfolio Segment [Member] | Pass Closely Monitored [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | 0 | 0 |
Consumer Portfolio Segment [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit rating category | $ 0 | $ 0 |
Note 4 - Loans and Allowance 45
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Our Past Due and Non-accrual Loans - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | $ 4,453 | $ 9,373 |
Current | 326,838 | 304,089 |
Total loans receivable | 331,291 | 313,462 |
Total loans > 90 days & Accruing | 0 | 0 |
Total Nonaccrual | 7,129 | 8,125 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,448 | 5,112 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,163 | 786 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,842 | 3,475 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 303 | 593 |
Current | 39,416 | 43,723 |
Total loans receivable | 39,719 | 44,316 |
Total loans > 90 days & Accruing | 0 | 0 |
Total Nonaccrual | 99 | 107 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 151 | 334 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 152 | 152 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 107 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Current | 5,459 | 6,645 |
Total loans receivable | 5,459 | 6,645 |
Total loans > 90 days & Accruing | 0 | 0 |
Total Nonaccrual | 0 | 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,017 | 2,101 |
Current | 182,917 | 151,604 |
Total loans receivable | 183,934 | 153,705 |
Total loans > 90 days & Accruing | 0 | 0 |
Total Nonaccrual | 5,188 | 1,339 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 6 | 818 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,011 | 634 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 649 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,291 | 0 |
Current | 57,513 | 61,204 |
Total loans receivable | 58,804 | 61,204 |
Total loans > 90 days & Accruing | 0 | 0 |
Total Nonaccrual | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,291 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,842 | 2,700 |
Current | 10,701 | 7,360 |
Total loans receivable | 12,543 | 10,060 |
Total loans > 90 days & Accruing | 0 | 0 |
Total Nonaccrual | 1,842 | 2,700 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,842 | 2,700 |
Construction Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 3,960 |
Current | 14,785 | 17,713 |
Total loans receivable | 14,785 | 21,673 |
Total loans > 90 days & Accruing | 0 | 0 |
Total Nonaccrual | 0 | 3,960 |
Construction Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 3,960 |
Construction Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Construction Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 19 |
Current | 14,826 | 14,698 |
Total loans receivable | 14,826 | 14,717 |
Total loans > 90 days & Accruing | 0 | 0 |
Total Nonaccrual | 0 | 19 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 19 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Current | 1,221 | 1,142 |
Total loans receivable | 1,221 | 1,142 |
Total loans > 90 days & Accruing | 0 | 0 |
Total Nonaccrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | $ 0 | $ 0 |
Note 4 - Loans and Allowance 46
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Impaired Loans by Class - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Loans without a specific valuation allowance: | ||
Specific allowance | $ 1,150 | $ 1,150 |
Loans with a specific valuation allowance: | ||
Specific allowance | 1,150 | 1,150 |
Totals | ||
Recorded balance | 23,839 | 27,780 |
Unpaid principal balance | 28,543 | 32,054 |
Specific allowance | 1,150 | 1,150 |
Average balance | 25,614 | 30,059 |
Interest Income | 1,024 | 1,277 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | ||
Loans without a specific valuation allowance: | ||
Recorded balance-without valuation allowance | 1,504 | 1,467 |
Unpaid principal balance-without valuation allowance | 1,633 | 1,643 |
Specific allowance | 0 | 0 |
Average balance-without valuation allowance | 1,791 | 1,472 |
Interest Income-without valuation allowance | 80 | 77 |
Loans with a specific valuation allowance: | ||
Recorded balance-with valuation allowance | 0 | 178 |
Unpaid principal balance-with valuation allowance | 0 | 178 |
Specific allowance | 0 | 0 |
Average balance-with valuation allowance | 0 | 180 |
Interest Income-with valuation allowance | 0 | 8 |
Totals | ||
Recorded balance | 1,504 | 1,645 |
Unpaid principal balance | 1,633 | 1,821 |
Specific allowance | 0 | 0 |
Average balance | 1,791 | 1,652 |
Interest Income | 80 | 85 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans without a specific valuation allowance: | ||
Recorded balance-without valuation allowance | 0 | 63 |
Unpaid principal balance-without valuation allowance | 0 | 63 |
Specific allowance | 0 | 0 |
Average balance-without valuation allowance | 15 | 65 |
Interest Income-without valuation allowance | 0 | 2 |
Loans with a specific valuation allowance: | ||
Recorded balance-with valuation allowance | 0 | 0 |
Unpaid principal balance-with valuation allowance | 0 | 0 |
Specific allowance | 0 | 0 |
Average balance-with valuation allowance | 0 | 0 |
Interest Income-with valuation allowance | 0 | 0 |
Totals | ||
Recorded balance | 0 | 63 |
Unpaid principal balance | 0 | 63 |
Specific allowance | 0 | 0 |
Average balance | 15 | 65 |
Interest Income | 0 | 2 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans without a specific valuation allowance: | ||
Recorded balance-without valuation allowance | 9,912 | 6,029 |
Unpaid principal balance-without valuation allowance | 11,820 | 8,309 |
Specific allowance | 200 | 200 |
Average balance-without valuation allowance | 10,508 | 6,680 |
Interest Income-without valuation allowance | 289 | 323 |
Loans with a specific valuation allowance: | ||
Recorded balance-with valuation allowance | 2,368 | 2,927 |
Unpaid principal balance-with valuation allowance | 2,368 | 2,927 |
Specific allowance | 200 | 200 |
Average balance-with valuation allowance | 2,499 | 3,000 |
Interest Income-with valuation allowance | 175 | 200 |
Totals | ||
Recorded balance | 12,280 | 8,956 |
Unpaid principal balance | 14,188 | 11,236 |
Specific allowance | 200 | 200 |
Average balance | 13,007 | 9,680 |
Interest Income | 464 | 523 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans without a specific valuation allowance: | ||
Recorded balance-without valuation allowance | 6,586 | 6,847 |
Unpaid principal balance-without valuation allowance | 7,400 | 7,661 |
Specific allowance | 100 | 100 |
Average balance-without valuation allowance | 6,685 | 6,941 |
Interest Income-without valuation allowance | 359 | 392 |
Loans with a specific valuation allowance: | ||
Recorded balance-with valuation allowance | 1,291 | 1,345 |
Unpaid principal balance-with valuation allowance | 1,291 | 1,345 |
Specific allowance | 100 | 100 |
Average balance-with valuation allowance | 1,319 | 1,355 |
Interest Income-with valuation allowance | 77 | 83 |
Totals | ||
Recorded balance | 7,877 | 8,192 |
Unpaid principal balance | 8,691 | 9,006 |
Specific allowance | 100 | 100 |
Average balance | 8,004 | 8,296 |
Interest Income | 436 | 475 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | ||
Loans without a specific valuation allowance: | ||
Recorded balance-without valuation allowance | 41 | 524 |
Unpaid principal balance-without valuation allowance | 96 | 805 |
Specific allowance | 850 | 850 |
Average balance-without valuation allowance | 371 | 504 |
Interest Income-without valuation allowance | 22 | 4 |
Loans with a specific valuation allowance: | ||
Recorded balance-with valuation allowance | 1,842 | 2,700 |
Unpaid principal balance-with valuation allowance | 3,640 | 4,060 |
Specific allowance | 850 | 850 |
Average balance-with valuation allowance | 2,115 | 3,044 |
Interest Income-with valuation allowance | 0 | 1 |
Totals | ||
Recorded balance | 1,883 | 3,224 |
Unpaid principal balance | 3,736 | 4,865 |
Specific allowance | 850 | 850 |
Average balance | 2,486 | 3,548 |
Interest Income | 22 | 5 |
Construction Portfolio Segment [Member] | ||
Loans without a specific valuation allowance: | ||
Recorded balance-without valuation allowance | 0 | 5,349 |
Unpaid principal balance-without valuation allowance | 0 | 4,712 |
Specific allowance | 0 | 0 |
Average balance-without valuation allowance | 0 | 3,664 |
Interest Income-without valuation allowance | 0 | 57 |
Loans with a specific valuation allowance: | ||
Recorded balance-with valuation allowance | 0 | 0 |
Unpaid principal balance-with valuation allowance | 0 | 0 |
Specific allowance | 0 | 0 |
Average balance-with valuation allowance | 0 | 2,674 |
Interest Income-with valuation allowance | 0 | 107 |
Totals | ||
Recorded balance | 0 | 5,349 |
Unpaid principal balance | 0 | 4,712 |
Specific allowance | 0 | 0 |
Average balance | 0 | 6,338 |
Interest Income | 0 | 164 |
Commercial Portfolio Segment [Member] | ||
Loans without a specific valuation allowance: | ||
Recorded balance-without valuation allowance | 295 | 19 |
Unpaid principal balance-without valuation allowance | 295 | 19 |
Specific allowance | 0 | 0 |
Average balance-without valuation allowance | 311 | 137 |
Interest Income-without valuation allowance | 22 | 5 |
Loans with a specific valuation allowance: | ||
Recorded balance-with valuation allowance | 0 | 332 |
Unpaid principal balance-with valuation allowance | 0 | 332 |
Specific allowance | 0 | 0 |
Average balance-with valuation allowance | 0 | 343 |
Interest Income-with valuation allowance | 0 | 18 |
Totals | ||
Recorded balance | 295 | 351 |
Unpaid principal balance | 295 | 351 |
Specific allowance | 0 | 0 |
Average balance | 311 | 480 |
Interest Income | 22 | 23 |
Consumer Portfolio Segment [Member] | ||
Loans without a specific valuation allowance: | ||
Recorded balance-without valuation allowance | 0 | 0 |
Unpaid principal balance-without valuation allowance | 0 | 0 |
Specific allowance | 0 | 0 |
Average balance-without valuation allowance | 0 | |
Interest Income-without valuation allowance | 0 | 0 |
Loans with a specific valuation allowance: | ||
Recorded balance-with valuation allowance | 0 | 0 |
Unpaid principal balance-with valuation allowance | 0 | 0 |
Specific allowance | 0 | 0 |
Average balance-with valuation allowance | 0 | 0 |
Interest Income-with valuation allowance | 0 | 0 |
Totals | ||
Recorded balance | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Specific allowance | 0 | 0 |
Average balance | 0 | |
Interest Income | $ 0 | $ 0 |
Note 4 - Loans and Allowance 47
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of contracts | 3 | 2 |
Balance prior to TDR | $ 817 | $ 5,324 |
Balance after TDR | $ 817 | $ 5,324 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of contracts | 3 | |
Balance prior to TDR | $ 817 | |
Balance after TDR | $ 817 | |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of contracts | 1 | |
Balance prior to TDR | $ 614 | |
Balance after TDR | $ 614 | |
Construction Portfolio Segment [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of contracts | 1 | |
Balance prior to TDR | $ 4,710 | |
Balance after TDR | $ 4,710 |
Note 4 - Loans and Allowance 48
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 3 | 2 |
Amount | $ 817 | $ 5,324 |
Payment Deferral [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 1 |
Amount | $ 0 | $ 4,710 |
Contractual Interest Rate Reduction [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Combination [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 3 | 1 |
Amount | $ 817 | $ 614 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Amount | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Payment Deferral [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Contractual Interest Rate Reduction [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | One to Four Family [Member] | Combination [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Amount | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Payment Deferral [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Contractual Interest Rate Reduction [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | Combination [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 3 | |
Amount | $ 817 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Payment Deferral [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Contractual Interest Rate Reduction [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Combination [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 3 | 0 |
Amount | $ 817 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Amount | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Payment Deferral [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Contractual Interest Rate Reduction [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Combination [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 1 | |
Amount | $ 0 | $ 614 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Payment Deferral [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Contractual Interest Rate Reduction [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Land Loan [Member] | Combination [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 1 |
Amount | $ 0 | $ 614 |
Construction Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 1 | |
Amount | $ 0 | $ 4,710 |
Construction Portfolio Segment [Member] | Payment Deferral [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 1 |
Amount | $ 0 | $ 4,710 |
Construction Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Construction Portfolio Segment [Member] | Combination [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Amount | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Combination [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Amount | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | Payment Deferral [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | Combination [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Summary of Loans Restructured as TDRs Based on Type of Modification [Line Items] | ||
Number of contracts | 0 | 0 |
Amount | $ 0 | $ 0 |
Note 5 - Premises and Equipme49
Note 5 - Premises and Equipment (Details) - Major Classifications of Premises and Equipment - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 6,968 | $ 6,832 |
Less accumulated depreciation | (5,683) | (5,448) |
Net premises and equipment | 1,285 | 1,384 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 514 | 514 |
Building and Building Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 3,146 | 3,146 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 3,308 | $ 3,172 |
Note 6 - Deposits (Details)
Note 6 - Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | ||
Interest-bearing Domestic Deposit, Brokered | $ 43,612 | $ 2,900 |
Time Deposits, at or Above FDIC Insurance Limit | $ 39,061 | |
Time Deposits, $100,000 or More | $ 85,833 |
Note 6 - Deposits (Details) - D
Note 6 - Deposits (Details) - Deposit at Year End - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deposit at Year End [Abstract] | ||
Savings accounts | $ 13,626 | $ 13,249 |
Checking accounts | 33,934 | 33,819 |
Money market accounts | 70,356 | 67,349 |
Certificates of deposit | 163,785 | 109,112 |
Total Deposits | $ 281,701 | $ 223,529 |
Note 6 - Deposits (Details) - M
Note 6 - Deposits (Details) - Maturities of Certificates of Deposit - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Maturities of Certificates of Deposit [Abstract] | ||
2,016 | $ 86,772 | |
2,017 | 33,067 | |
2,018 | 17,723 | |
2,019 | 15,877 | |
2,020 | 9,532 | |
Thereafter | 814 | |
Total | $ 163,785 | $ 109,112 |
Note 7 - Federal Home Loan Ba53
Note 7 - Federal Home Loan Bank Advances (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | ||
Advances from Federal Home Loan Banks | $ 47,000,000 | $ 50,000,000 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate, Range from | 2.21% | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate, Range to | 5.25% | |
Deposits with Other Federal Home Loan Banks | $ 136,207,000 |
Note 7 - Federal Home Loan Ba54
Note 7 - Federal Home Loan Bank Advances (Details) - Aggregate Annual Maturities of Federal Home Loan Bank Advances - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Aggregate Annual Maturities of Federal Home Loan Bank Advances [Abstract] | ||
2,016 | $ 0 | |
2,017 | 10,000,000 | |
2,018 | 5,000,000 | |
2,019 | 0 | |
2,020 | 10,000,000 | |
Thereafter | 22,000,000 | |
Total | $ 47,000,000 | $ 50,000,000 |
Note 8 - Income Taxes (Details)
Note 8 - Income Taxes (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Income Tax Disclosure [Abstract] | |
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Bad Debt Reserve for Tax Purposes of Qualified Lender | $ 2,019 |
Reversal of Deferred Tax Liability | $ 686 |
Note 8 - Income Taxes (Detail56
Note 8 - Income Taxes (Details) - Components Included as Provision for Income Taxes - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Components Included as Provision for Income Taxes [Abstract] | ||
Taxes currently payable | $ 1,759 | $ 1,540 |
Deferred income taxes | (215) | (114) |
Income tax expense | $ 1,544 | $ 1,426 |
Note 8 - Income Taxes (Detail57
Note 8 - Income Taxes (Details) - Reconciliation of Income Tax Expense at Statutory Rate to Company's Actual Income Tax Expense - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Reconciliation of Income Tax Expense at Statutory Rate to Company's Actual Income Tax Expense [Abstract] | ||
Computed at the statutory rate (34%) | $ 1,608 | $ 1,397 |
Increase (decrease) resulting from Tax exempt interest | (49) | (49) |
Other | (15) | 78 |
Actual tax expense | $ 1,544 | $ 1,426 |
Note 8 - Income Taxes (Detail58
Note 8 - Income Taxes (Details) - Reconciliation of Income Tax Expense at Statutory Rate to Company's Actual Income Tax Expense (Parentheticals) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Reconciliation of Income Tax Expense at Statutory Rate to Company's Actual Income Tax Expense [Abstract] | ||
Statutory rate | 34.00% | 34.00% |
Note 8 - Income Taxes (Detail59
Note 8 - Income Taxes (Details) - Tax Effects of Temporary Differences Related to Deferred Taxes - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax asset | ||
Allowance for loan losses | $ 2,984 | $ 2,712 |
Depreciation | 134 | 125 |
Deferred loan fees | 195 | 191 |
Deferred compensation | 197 | 189 |
Real estate owned | 27 | 1 |
Other | 62 | 166 |
3,599 | 3,384 | |
Deferred tax liabilities | ||
FHLB stock dividends | 31 | 31 |
Net deferred tax asset | $ 3,568 | $ 3,353 |
Note 9 - Regulatory Matters (De
Note 9 - Regulatory Matters (Details) - USD ($) $ in Thousands | Jan. 01, 2019 | Jan. 01, 2016 | Dec. 31, 2015 |
Note 9 - Regulatory Matters (Details) [Line Items] | |||
Deductions and Adjustments to CET1, Initial Phase-in, Percentage | 40.00% | ||
Retained Earnings, Unappropriated (in Dollars) | $ 623 | ||
Subsequent Event [Member] | |||
Note 9 - Regulatory Matters (Details) [Line Items] | |||
Deductions and Adjustments to CET1, Annual Phase-in, Percent | 20.00% | ||
Capital Conservation Buffer, Annual Phase-in | 0.625% | ||
Capital Conservation Buffer | 2.50% |
Note 9 - Regulatory Matters (61
Note 9 - Regulatory Matters (Details) - Minimum Capital Ratios required by Basel III Capital Rules | Dec. 31, 2015 | Dec. 31, 2014 |
Minimum Capital Ratios required by Basel III Capital Rules [Abstract] | ||
4.50% | ||
6.00% | 4.00% | |
8.00% | 8.00% | |
4.00% |
Note 9 - Regulatory Matters (62
Note 9 - Regulatory Matters (Details) - Quantitative Measures - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Quantitative Measures [Abstract] | ||
Total risk-based capital, actual, amount | $ 61,810 | $ 62,224 |
Total risk-based capital, actual, ratio | 20.70% | 22.70% |
Total risk-based capital, for capital adequacy purposes, amount | $ 23,848 | $ 21,936 |
Total risk-based capital, for capital adequacy purposes, ratio | 8.00% | 8.00% |
Total risk-based capital, to be well capitalized, amount | $ 29,810 | $ 27,420 |
Total risk-based capital, to be well capitalized, ratio | 10.00% | 10.00% |
Tier 1 capital risk weighted assets, actual, amount | $ 57,990 | $ 58,763 |
Tier 1 capital risk weighted assets, ratio | 19.45% | 21.40% |
Tier 1 capital risk weighted assets, for capital adequacy purposes, amount | $ 17,886 | $ 10,968 |
Tier 1 capital risk weighted assets, for capital adequacy purposes, ratio | 6.00% | 4.00% |
Tier 1 capital risk weighted assets, to be well capitalized, amount | $ 23,848 | $ 16,452 |
Tier 1 capital risk weighted assets, to be well capitalized, ratio | 8.00% | 6.00% |
Common equity tier 1 capital (to risk-weighted assets) | $ 57,990 | |
Common equity tier 1 capital (to risk-weighted assets) | 19.45% | |
Common equity tier 1 capital (to risk-weighted assets) | $ 16,172 | |
Common equity tier 1 capital (to risk-weighted assets) | 4.50% | |
Common equity tier 1 capital (to risk-weighted assets) | $ 23,360 | |
Common equity tier 1 capital (to risk-weighted assets) | 6.50% | |
Tier 1 capital to adjusted assets, actual, amount | $ 57,990 | $ 58,763 |
Tier 1 capital to adjusted assets, actual, ratio | 16.14% | 17.60% |
Tier 1 capital to adjusted assets, for capital adequacy purposes, amount | $ 14,375 | $ 13,396 |
Tier 1 capital to adjusted assets, for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 capital to adjusted assets, to be well capitalized, amount | $ 17,969 | $ 16,745 |
Tier 1 capital to adjusted assets, to be well capitalized, ratio | 5.00% | 5.00% |
Note 10 - Employee Benefits (De
Note 10 - Employee Benefits (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 10 - Employee Benefits (Details) [Line Items] | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match, Addittional | 50.00% | |
Defined Contribution Plan, Cost Recognized | $ 75 | $ 73 |
Employee Stock Ownership Plan Shares Purchased by Esop (in Shares) | 200,600 | |
Common Stock Purchased Value Per Share (in Dollars per share) | $ 10 | |
Common Stock Value Originally Acquired by ESOP | $ 2,006 | |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 391 | $ 244 |
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares (in Shares) | 55,665 | 41,755 |
Employee Stock Ownership Plan (ESOP), Deferred Shares, Fair Value | $ 1,483 | $ 1,019 |
Minimum [Member] | ||
Note 10 - Employee Benefits (Details) [Line Items] | ||
Defined Contribution Plan, Employee Contribution, Additional Percentage | 3.00% | |
Maximum [Member] | ||
Note 10 - Employee Benefits (Details) [Line Items] | ||
Defined Contribution Plan, Employee Contribution, Additional Percentage | 5.00% |
Note 10 - Employee Benefits (64
Note 10 - Employee Benefits (Details) - Employee Stock Ownership Plan - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 10 - Employee Benefits (Details) - Employee Stock Ownership Plan [Line Items] | ||
Allocated shares | 55,665 | 41,755 |
Unearned shares | 141,255 | 156,458 |
Total ESOP shares | 196,920 | 198,213 |
Fair value of unearned shares at December 31 (in Dollars) | $ 1,410 | $ 1,564 |
Employee Stock Option [Member] | ||
Note 10 - Employee Benefits (Details) - Employee Stock Ownership Plan [Line Items] | ||
Fair value of unearned shares at December 31 (in Dollars) | $ 3,763 | $ 3,747 |
Note 11 - Disclosures about F65
Note 11 - Disclosures about Fair Value of Assets and Liabilities (Details) - Summary of Fair Value Measurements of Assets and Liabilities Nonrecurring Basis - Fair Value, Measurements, Nonrecurring [Member] $ in Thousands | Dec. 31, 2014USD ($) |
Reported Value Measurement [Member] | |
Note 11 - Disclosures about Fair Value of Assets and Liabilities (Details) - Summary of Fair Value Measurements of Assets and Liabilities Nonrecurring Basis [Line Items] | |
Collateral-dependent Impaired loans | $ 3,822 |
Fair Value, Inputs, Level 1 [Member] | Portion at Fair Value Measurement [Member] | |
Note 11 - Disclosures about Fair Value of Assets and Liabilities (Details) - Summary of Fair Value Measurements of Assets and Liabilities Nonrecurring Basis [Line Items] | |
Collateral-dependent Impaired loans | 0 |
Fair Value, Inputs, Level 2 [Member] | Portion at Fair Value Measurement [Member] | |
Note 11 - Disclosures about Fair Value of Assets and Liabilities (Details) - Summary of Fair Value Measurements of Assets and Liabilities Nonrecurring Basis [Line Items] | |
Collateral-dependent Impaired loans | 0 |
Fair Value, Inputs, Level 3 [Member] | Portion at Fair Value Measurement [Member] | |
Note 11 - Disclosures about Fair Value of Assets and Liabilities (Details) - Summary of Fair Value Measurements of Assets and Liabilities Nonrecurring Basis [Line Items] | |
Collateral-dependent Impaired loans | $ 3,822 |
Note 11 - Disclosures about F66
Note 11 - Disclosures about Fair Value of Assets and Liabilities (Details) - Summary of Quantitative Information about Unobservable Inputs used in Recurring and Nonrecurring Level Three Fair Value Measurements Other Than Goodwill - USD ($) $ in Thousands | May. 30, 2015 | Dec. 31, 2015 |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
December 31, 2014 Collateral-dependent Impaired loans | 17.29% | 18.60% |
December 31, 2014 Collateral-dependent Impaired loans | (17.29%) | (18.60%) |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
December 31, 2014 Collateral-dependent Impaired loans (in Dollars) | $ 3,822 | |
December 31, 2014 Collateral-dependent Impaired loans | Market comparable properties | |
December 31, 2014 Collateral-dependent Impaired loans | Marketability discount | |
Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
December 31, 2014 Collateral-dependent Impaired loans | 6.00% | |
December 31, 2014 Collateral-dependent Impaired loans | (6.00%) | |
Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
December 31, 2014 Collateral-dependent Impaired loans | 38.00% | |
December 31, 2014 Collateral-dependent Impaired loans | (38.00%) | |
Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
December 31, 2014 Collateral-dependent Impaired loans | 7.00% | |
December 31, 2014 Collateral-dependent Impaired loans | (7.00%) |
Note 11 - Disclosures about F67
Note 11 - Disclosures about Fair Value of Assets and Liabilities (Details) - Summary of Estimated Fair Values of Company's Financial Instruments - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financial Assets | ||
Interest-earning time deposits | $ 39,021 | |
Interest receivable | 967 | $ 777 |
Financial liabilities | ||
Federal funds purchased | 24,000 | |
Reported Value Measurement [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 52,865 | 29,686 |
Interest-earning time deposits | 39,021 | |
Held to maturity securities | 500 | |
Loans held for sale | 581 | 570 |
Loans, net of allowance for loan losses | 314,613 | 296,477 |
Federal Home Loan Bank stock | 2,700 | 2,500 |
Interest receivable | 967 | 777 |
Financial liabilities | ||
Deposits | 281,701 | 223,659 |
Federal Home Loan Bank advances | 47,000 | 50,000 |
Federal funds purchased | 24,000 | |
Interest payable | 233 | 157 |
Fair Value, Inputs, Level 1 [Member] | Portion at Fair Value Measurement [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 52,865 | 29,686 |
Interest-earning time deposits | 39,021 | |
Held to maturity securities | 0 | |
Loans held for sale | 0 | 0 |
Loans, net of allowance for loan losses | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Interest receivable | 0 | 0 |
Financial liabilities | ||
Deposits | 117,916 | 114,418 |
Federal Home Loan Bank advances | 0 | 0 |
Federal funds purchased | 0 | |
Interest payable | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Portion at Fair Value Measurement [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Interest-earning time deposits | 0 | |
Held to maturity securities | 500 | |
Loans held for sale | 583 | 570 |
Loans, net of allowance for loan losses | 0 | 0 |
Federal Home Loan Bank stock | 2,700 | 2,500 |
Interest receivable | 967 | 777 |
Financial liabilities | ||
Deposits | 0 | 0 |
Federal Home Loan Bank advances | 46,390 | 50,567 |
Federal funds purchased | 24,000 | |
Interest payable | 233 | 157 |
Fair Value, Inputs, Level 3 [Member] | Portion at Fair Value Measurement [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Interest-earning time deposits | 0 | |
Held to maturity securities | 0 | |
Loans held for sale | 0 | 0 |
Loans, net of allowance for loan losses | 318,525 | 299,514 |
Federal Home Loan Bank stock | 0 | 0 |
Interest receivable | 0 | 0 |
Financial liabilities | ||
Deposits | 165,657 | 110,560 |
Federal Home Loan Bank advances | 0 | 0 |
Federal funds purchased | 0 | |
Interest payable | $ 0 | $ 0 |
Note 12 - Commitments and Con68
Note 12 - Commitments and Contingent Liabilities (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Minimum [Member] | |
Note 12 - Commitments and Contingent Liabilities (Details) [Line Items] | |
Commitments Expiration Period | 30 days |
Maximum [Member] | |
Note 12 - Commitments and Contingent Liabilities (Details) [Line Items] | |
Commitments Expiration Period | 90 days |
Note 12 - Commitments and Con69
Note 12 - Commitments and Contingent Liabilities (Details) - Summary of Financial Instruments - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Summary of Financial Instruments [Abstract] | ||
Commitments to extend credit | $ 7,133 | $ 17,393 |
Unused portions of lines of credit | 6,778 | 5,790 |
Standby letters of credit | $ 990 | $ 1,107 |
Note 13 - Earnings Per Share (
Note 13 - Earnings Per Share (Details) - Earnings Per Share Table - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share Table [Abstract] | ||
Net Income (in Dollars) | $ 3,186 | $ 2,683 |
Dividends and undistributed earnings allocated to participating securities (in Dollars) | (50) | (52) |
Income attributable to common shareholders (in Dollars) | $ 3,136 | $ 2,631 |
Weighted average shares outstanding (in thousands) | 2,200 | 2,276 |
Less: average unearned ESOP and unvested restricted stock | (203) | (220) |
Average Shares | 1,997 | 2,056 |
Dilutive effect of share-based awards | 25 | 14 |
Average common and common-equivalent shares for diluted EPS (in thousands) | 2,022 | 2,070 |
Basic EPS (in Dollars per share) | $ 1.57 | $ 1.28 |
Diluted EPS (in Dollars per share) | $ 1.55 | $ 1.27 |
Note 14 - Share-based Compens71
Note 14 - Share-based Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 14 - Share-based Compensation (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 351,050 | |
Allocated Share-based Compensation Expense | $ 319 | $ 307 |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 125 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 204 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 647 | |
Stock or Unit Option Plan Expense | 62 | 60 |
Restricted Stock or Unit Expense | 257 | $ 247 |
Restricted Stock [Member] | ||
Note 14 - Share-based Compensation (Details) [Line Items] | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 600 |
Note 14 - Share-based Compens72
Note 14 - Share-based Compensation (Details) - Summary of Stock Option Activity - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Summary of Stock Option Activity [Abstract] | ||
Options outstanding at January 1, 2015 | 128,949 | 121,449 |
Options outstanding at January 1, 2015 | $ 17.91 | $ 17.45 |
Options outstanding at January 1, 2015 | 7 years | 8 years |
Options outstanding at January 1, 2015 | $ 1,123 | $ 789 |
Granted | 7,500 | |
Granted | $ 26.24 | |
Granted | 10 years | |
Exercised | 0 | |
Exercised | $ 0 | |
Forfeited | 0 | |
Forfeited | $ 0 | |
Expired | 0 | |
Expired | $ 0 | |
Options outstanding at December 31, 2015 | 128,949 | 121,449 |
Options outstanding at December 31, 2015 | $ 17.91 | $ 17.45 |
Options outstanding at December 31, 2015 | 7 years | 8 years |
Options outstanding at December 31, 2015 | $ 1,123 | $ 789 |
Exercisable at December 31, 2015 | 71,912 | |
Exercisable at December 31, 2015 | $ 17.33 | |
Exercisable at December 31, 2015 | 7 years | |
Exercisable at December 31, 2015 | $ 669 |
Note 14 - Share-based Compens73
Note 14 - Share-based Compensation (Details) - Assumptions Used in Black-Scholes Option Pricing Formula - $ / shares | May. 30, 2015 | Dec. 31, 2015 |
Assumptions Used in Black-Scholes Option Pricing Formula [Abstract] | ||
Expected volatility | 17.29% | 18.60% |
Risk-free interest rate | 2.00% | 2.10% |
Expected dividend yield | 3.43% | 3.43% |
Expected life | 7 years 6 months | 7 years 6 months |
Exercise price for the stock options (in Dollars per share) | $ 26.65 | $ 26.06 |
Grant date fair value (in Dollars per share) | $ 3.01 | $ 3.28 |
Note 14 - Share-based Compens74
Note 14 - Share-based Compensation (Details) - Summary of Restricted Stock Award Activity - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Note 14 - Share-based Compensation (Details) - Summary of Restricted Stock Award Activity [Line Items] | |
Non-vested at January 1, 2014 | shares | 43,974 |
Non-vested at January 1, 2014 | $ / shares | $ 17.44 |
Granted | shares | 7,000 |
Granted | $ / shares | $ 26.24 |
Vested | shares | (14,440) |
Vested | $ / shares | $ 17.38 |
Forfeited | shares | 0 |
Forfeited | $ / shares | $ 0 |
Non-vested at December 31, 2015 | shares | 36,534 |
Non-vested at December 31, 2015 | $ / shares | $ 19.16 |
Note 15 - Condensed Financial75
Note 15 - Condensed Financial Information (Parent Company Only) (Details) - Condensed Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Assets | |||
Cash and cash equivalents | $ 52,865 | $ 29,686 | $ 26,181 |
Other assets | 5,151 | 4,895 | |
Total assets | 417,813 | 336,624 | |
Stockholders' Equity | 60,480 | 61,538 | 60,325 |
Total liabilities and stockholders' equity | 417,813 | 336,624 | |
Parent [Member] | |||
Assets | |||
Cash and cash equivalents | 2,386 | 990 | $ 370 |
Investment in subsidiary | 60,073 | 60,490 | |
Other assets | 199 | 125 | |
Total assets | 62,658 | 61,605 | |
Liabilities - Other | 2,178 | 67 | |
Stockholders' Equity | 60,480 | 61,538 | |
Total liabilities and stockholders' equity | $ 62,658 | $ 61,605 |
Note 15 - Condensed Financial76
Note 15 - Condensed Financial Information (Parent Company Only) (Details) - Condensed Statements of Income and Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Income Statements, Captions [Line Items] | ||
Income - Dividends from subsidiary | $ 15,616 | $ 14,607 |
Expense | 3,451 | 3,144 |
Income (Loss) Before Income Tax and Equity Undistributed Income (Distribution in Excess of Income) | 4,730 | 4,109 |
Income Tax Benefit | (1,544) | (1,426) |
Net Income and Comprehensive Income | 3,186 | 2,683 |
Parent [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Income - Dividends from subsidiary | 4,500 | 3,000 |
Expense | 260 | 325 |
Income (Loss) Before Income Tax and Equity Undistributed Income (Distribution in Excess of Income) | 4,240 | 2,675 |
Income Tax Benefit | 73 | 114 |
Income (Loss) Before Equity in Undistributed Income (Distribution in Excess of Income) | 4,313 | 2,789 |
Equity in Undistributed Income (Distribution in Excess of Income) | (1,127) | (106) |
Net Income and Comprehensive Income | $ 3,186 | $ 2,683 |
Note 15 - Condensed Financial77
Note 15 - Condensed Financial Information (Parent Company Only) (Details) - Condensed Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Activities | ||
Net income | $ 3,186 | $ 2,683 |
Financing Activities | ||
Purchase of common stock | (2,796) | (807) |
Dividends paid | (1,260) | |
Net Change in Cash and Cash Equivalents | 23,179 | 3,505 |
Cash and Cash Equivalents, Beginning of Period | 29,686 | 26,181 |
Cash and Cash Equivalents, End of Period | 52,865 | 29,686 |
Supplemental Disclosures of Cash Flows Information | ||
Dividends Declared, not paid | 2,158 | |
Parent [Member] | ||
Operating Activities | ||
Net income | 3,186 | 2,683 |
Items not requiring (providing) cash: | ||
Equity in (undistributed income) distributions in excess of income of subsidiaries | 1,127 | 106 |
Change in other assets | (74) | (72) |
Change in other liabilities | (47) | (30) |
Net cash used in operating activities | 4,192 | 2,687 |
Financing Activities | ||
Purchase of common stock | (2,796) | (807) |
Dividends paid | (1,260) | |
Net cash used in financing activities | (2,796) | (2,067) |
Net Change in Cash and Cash Equivalents | 1,396 | 620 |
Cash and Cash Equivalents, Beginning of Period | 990 | 370 |
Cash and Cash Equivalents, End of Period | 2,386 | $ 990 |
Supplemental Disclosures of Cash Flows Information | ||
Dividends Declared, not paid | $ 2,158 |