Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 13, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | BKGMF | |
Entity Registrant Name | BankGuam Holding Co | |
Entity Central Index Key | 1,527,383 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 9,635,055 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Condition - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 31,522 | $ 29,033 |
Interest bearing deposits in banks | 75,477 | 97,094 |
Total cash and cash equivalents | 106,999 | 126,127 |
Restricted cash | 400 | 400 |
Investment in unconsolidated subsidiary | 3,215 | 3,167 |
Investment securities available-for-sale, at fair value | 410,194 | 460,788 |
Investment securities held-to-maturity, at amortized cost (Fair Value $78,569 at 6/30/18 and $89,999 at 12/31/17) | 79,288 | 89,677 |
Federal Home Loan Bank stock, at cost | 2,356 | 2,303 |
Loans, net of allowance for loan losses ($18,806 at 6/30/18 and $17,279 at 12/31/17) | 1,235,542 | 1,209,824 |
Accrued interest receivable | 5,834 | 5,728 |
Premises and equipment, net | 18,636 | 17,842 |
Other assets | 46,483 | 50,090 |
Total assets | 1,908,947 | 1,965,946 |
Deposits: | ||
Non-interest bearing | 559,743 | 508,149 |
Interest bearing | 1,187,376 | 1,307,983 |
Total deposits | 1,747,119 | 1,816,132 |
Accrued interest payable | 124 | 131 |
Other liabilities | 17,542 | 11,536 |
Total liabilities | 1,764,785 | 1,827,799 |
Commitments and contingencies (Note 6) | ||
Stockholders’ equity: | ||
Common stock $0.2083 par value; 48,000 shares authorized; 9,667 and 9,446 shares issued and 9,635 and 9,414 shares outstanding at 6/30/18 and 12/31/17, respectively | 2,015 | 1,969 |
Preferred stock $100 par value; 300 shares authorized; 9.8 shares issued and outstanding | 980 | 980 |
Additional paid-in capital, Common stock | 24,105 | 21,472 |
Additional paid-in capital, Preferred stock | 8,803 | 8,803 |
Retained earnings | 114,228 | 108,900 |
Accumulated other comprehensive loss | (5,679) | (3,687) |
Common stock in treasury, at cost (32 shares) | (290) | (290) |
Total stockholders’ equity | 144,162 | 138,147 |
Total liabilities and stockholders’ equity | $ 1,908,947 | $ 1,965,946 |
Condensed Consolidated Stateme3
Condensed Consolidated Statements of Condition (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Statement Of Financial Position [Abstract] | ||
Investment securities held-to-maturity, Fair Value | $ 78,569 | $ 89,999 |
Loans, net of allowance for loan losses | $ 18,806 | $ 17,279 |
Common stock, par value | $ 0.2083 | $ 0.2083 |
Common stock, shares authorized | 48,000,000 | 48,000,000 |
Common stock, shares issued | 9,667,000 | 9,446,000 |
Common stock, shares outstanding | 9,635,000 | 9,414,000 |
Preferred stock, par value | $ 100 | $ 100 |
Preferred stock, shares authorized | 300,000 | 300,000 |
Preferred stock, shares issued | 9,800 | 9,800 |
Preferred stock, shares outstanding | 9,800 | 9,800 |
Common stock in treasury, shares | 32,000 | 32,000 |
Condensed Consolidated Stateme4
Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest income: | ||||
Loans | $ 20,067 | $ 18,079 | $ 39,258 | $ 35,231 |
Investment securities | 2,551 | 1,941 | 4,986 | 3,693 |
Deposits with banks | 124 | 248 | 372 | 431 |
Total interest income | 22,742 | 20,268 | 44,616 | 39,355 |
Interest expense: | ||||
Savings deposits | 510 | 514 | 1,020 | 1,006 |
Time deposits | 28 | 38 | 59 | 76 |
Other borrowed funds | 9 | 10 | ||
Total interest expense | 547 | 552 | 1,089 | 1,082 |
Net interest income | 22,195 | 19,716 | 43,527 | 38,273 |
Provision for loan losses | 2,099 | 1,184 | 4,838 | 2,367 |
Net interest income, after provision for loan losses | 20,096 | 18,532 | 38,689 | 35,906 |
Non-interest income: | ||||
Service charges and fees | 1,754 | 1,452 | 3,438 | 2,850 |
Loss on sale of investment securities | (362) | (413) | (13) | |
Income from merchant services, net | 485 | 598 | 1,177 | 1,188 |
Cardholders income, net | 171 | 191 | 179 | 359 |
Trustee fees | 879 | 259 | 1,079 | 455 |
Other income | 916 | 678 | 1,799 | 1,378 |
Total non-interest income | 3,843 | 3,178 | 7,259 | 6,217 |
Non-interest expense: | ||||
Salaries and employee benefits | 9,251 | 8,555 | 18,056 | 16,925 |
Occupancy | 1,815 | 1,695 | 3,611 | 3,251 |
Equipment and depreciation | 2,543 | 2,116 | 4,857 | 4,138 |
Insurance | 423 | 404 | 854 | 809 |
Telecommunications | 487 | 412 | 980 | 849 |
FDIC assessment | 339 | 343 | 709 | 739 |
Professional services | 946 | 485 | 1,528 | 937 |
Contract services | 422 | 453 | 833 | 957 |
Other real estate owned | 21 | 11 | 43 | 66 |
Stationery and supplies | 185 | 223 | 379 | 418 |
Training and education | 348 | 362 | 540 | 668 |
General, administrative and other | 2,208 | 2,198 | 4,135 | 4,655 |
Total non-interest expense | 18,988 | 17,257 | 36,525 | 34,412 |
Income before income taxes | 4,951 | 4,453 | 9,423 | 7,711 |
Income tax expense | 1,054 | 1,184 | 1,898 | 2,157 |
Net income | 3,897 | 3,269 | 7,525 | 5,554 |
Preferred stock dividend | (136) | (136) | (271) | (276) |
Net income attributable to common stockholders | $ 3,761 | $ 3,133 | $ 7,254 | $ 5,278 |
Earnings per common share: | ||||
Basic | $ 0.39 | $ 0.34 | $ 0.76 | $ 0.57 |
Diluted | 0.39 | 0.34 | 0.76 | 0.57 |
Dividends declared per common share | $ 0.10 | $ 0.10 | $ 0.20 | $ 0.20 |
Basic weighted average common shares | 9,635 | 9,274 | 9,590 | 9,271 |
Diluted weighted average common shares | 9,635 | 9,274 | 9,590 | 9,271 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 3,897 | $ 3,269 | $ 7,525 | $ 5,554 |
Other comprehensive (loss) income: | ||||
Unrealized holding (loss) gain on available-for-sale securities arising during the period, net of tax | (599) | 286 | (2,681) | 431 |
Reclassification for loss realized on available-for-sale securities | 362 | 413 | 13 | |
Amortization of post-transfer unrealized holding loss on held-to-maturity securities during the period, net of tax | 155 | 107 | 276 | 215 |
Total other comprehensive (loss) income | (82) | 393 | (1,992) | 659 |
Total comprehensive income | $ 3,815 | $ 3,662 | $ 5,533 | $ 6,213 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 7,525 | $ 5,554 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 4,838 | 2,367 |
Depreciation | 1,797 | 1,642 |
Amortization of fees, discounts and premiums | 710 | 663 |
(Loss) gain on sales of other real estate owned, net | (17) | 18 |
Proceeds from sales of loans held for sale | 6,210 | 8,473 |
Origination of loans held for sale | (6,210) | (8,473) |
Increase (decrease) in mortgage servicing rights | 30 | (12) |
Realized loss on sale of available-for-sale securities | 413 | 13 |
Realized gain on sale of premises and equipment | (23) | |
Income from equity investment in unconsolidated subsidiary | (225) | (46) |
Dividends received from unconsolidated subsidiary | 177 | 115 |
Net change in operating assets and liabilities: | ||
Accrued interest receivable | (106) | (166) |
Other assets | 3,429 | (6,328) |
Accrued interest payable | (7) | (6) |
Other liabilities | 6,011 | 1,337 |
Net cash provided by operating activities | 24,575 | 5,128 |
Cash flows from investing activities: | ||
Purchases of available-for-sale securities | (65,459) | (59,280) |
Proceeds from sales of available-for-sale securities | 78,775 | 12,896 |
Maturities, prepayments and calls of available-for-sale securities | 34,078 | 25,337 |
Maturities, prepayments and calls of held-to-maturity securities | 10,473 | 3,269 |
Loan originations and principal collections, net | (30,556) | 11,317 |
Costs of FHLB stock purchase | (53) | (448) |
Proceeds from sales of other real estate owned | 162 | 322 |
Purchases of premises and equipment | (2,590) | (1,993) |
Net cash provided by (used in) investing activities | 24,830 | (8,580) |
Cash flows from financing activities: | ||
Net (decrease) increase in deposits | (69,013) | 40,493 |
Proceeds from issuance of common stock | 2,678 | 125 |
Dividends paid | (2,198) | (2,131) |
Net cash (used in) provided by financing activities | (68,533) | 38,487 |
Net change in cash, cash equivalents and restricted cash | (19,128) | 35,035 |
Cash, cash equivalents and restricted cash at beginning of period | 126,527 | 177,051 |
Cash, cash equivalents and restricted cash at end of period | 107,399 | 212,086 |
Cash paid during the period for: | ||
Interest | 1,084 | 1,087 |
Income taxes | 2,202 | 3,665 |
Supplemental disclosure of noncash investing and financing activities: | ||
Net change in unrealized loss on held-to-maturity securities, net of tax | 276 | 215 |
Net change in unrealized (loss) gain on available-for-sale securities, net of tax | $ (2,267) | 444 |
Other real estate owned transferred from loans, net | 260 | |
Other real estate owned transferred to loans, net | $ (116) |
Nature of Business
Nature of Business | 6 Months Ended |
Jun. 30, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Nature of Business | Note 1 – Nature of Business Organization The accompanying condensed consolidated financial statements include the accounts of BankGuam Holding Company (“Company”) and its wholly-owned subsidiaries, Bank of Guam (“Bank”) and BankGuam Investment Services (“BGIS”). The Company is a Guam corporation organized on October 29, 2010, to act as a holding company of the Bank, a Guam banking corporation, a 22-branch bank serving the communities in Guam, the Commonwealth of the Northern Mariana Islands (“CNMI”), the Federated States of Micronesia (“FSM”), the Republic of the Marshall Islands (“RMI”), the Republic of Palau (“ROP”), and San Francisco, California. BankGuam Investment Services was incorporated in Guam in 2015 and initially capitalized during the first quarter of 2016. The Company executed an agreement to purchase up to 70% of ASC Trust Corporation through 2021, including its initial 25% investment made in July 2016. Other than holding the shares of the Bank, BGIS and ASC Trust Corporation, the Company conducts no significant activities, although it is authorized, with the prior approval of its principal regulator, the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”), to engage in a variety of activities related to the business of banking. Currently, substantially all of the Company’s operations are conducted and substantially all of the assets are owned by the Bank, which accounts for substantially all of our consolidated revenues, expenses and operating income. The Bank provides a variety of financial services to individuals, businesses and governments through its branches. The Bank’s headquarters is located in Hagåtña, Guam. The Bank currently has eleven branches in Guam, four in the CNMI, four in the FSM, one in the RMI, one in the ROP, and one in San Francisco, California. Its primary deposit products are demand deposits, savings and time certificate accounts, and its primary lending products are consumer, commercial and real estate loans. For ease of reference we will sometimes refer to the Company as “we”, “us” or “our”. |
Summary of Significant Accounti
Summary of Significant Accounting Policies and Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies and Recent Accounting Pronouncements | Note 2 – Summary of Significant Accounting Policies and Recent Accounting Pronouncements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all footnotes that would be required for a full presentation of financial condition, results of operations, changes in cash flows and comprehensive income in accordance with generally accepted accounting principles in the United States (“GAAP”). However, these interim financial statements reflect all adjustments (consisting of normal recurring adjustments and accruals) which, in the opinion of our management, are necessary for a fair presentation of our financial condition, results of operations and cash flows for the interim periods presented. These unaudited condensed consolidated financial statements have been prepared on a basis consistent with prior periods, and should be read in conjunction with our audited consolidated financial statements as of and for the year ended December 31, 2017, and the notes thereto, included in our Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the Securities and Exchange Commission (“SEC”) under the Securities Exchange Act of 1934 on June 29, 2018. Our condensed consolidated financial condition at June 30, 2018, and the condensed consolidated results of operations for the three and six months ended June 30, 2018, are not necessarily indicative of what our financial condition will be at December 31, 2018, or of the results of our operations that may be expected for the full year ending December 31, 2018. Use of Estimates The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of income and expenses during the periods presented. Actual results could differ from those estimates. Restricted Cash Interest-bearing deposits in banks that mature within one year are carried at cost. $150 thousand of these deposits are held jointly under the names of Bank of Guam and the Guam Insurance Commissioner, and serve as a bond for the Bank of Guam Trust Department, and $250 thousand of these deposits are held under the Bank of Guam and are pledged for the Banker’s Loan Processing (“BLP”) program. Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” In January 2016, the FASB issued ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” In March 2016, the FASB issued ASU 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230)”, In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” In March 2017, the FASB issued ASU 2017-07, “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” In May 2017, the FASB issued ASU 2017-09, “Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting” In February 2018, the FASB issued ASU 2018-02, “ Income Statement – Reporting Comprehensive Income (Topic 220) Recently Issued but Not Yet Adopted Accounting Pronouncements In March 2017, the FASB issued ASU 2017-08, “Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities” In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326)” The Company is currently evaluating the provisions of ASU 2016-13 to determine the potential impact the new standard will have on our condensed consolidated financial statements, and has taken steps for implementation when it becomes effective beginning January 1, 2020, such as gathering pertinent data, consulting with outside professionals and evaluating its current IT systems. Management expects to recognize a one-time cumulative effect adjustment to the allowance for loan losses as of the first reporting period in which the new standard is effective, but cannot yet estimate the magnitude of the one-time adjustment or the overall impact of the new guidance on the Company’s financial position, results of operations or cash flows. |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share Pro Forma [Abstract] | |
Earnings Per Common Share | Note 3 – Earnings Per Common Share Basic earnings per common share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Potential common shares that may be issued by the Company relate to shares subscribed but not yet issued in 2018 and 2017 under the Employee Stock Purchase Plan, and are reported as dilutive options. No shares were subscribed but not issued at the end of the three and six months ended June 30, 2018 and 2017. Earnings per common share are computed based on reported net income, preferred stock dividends and the following common share data: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Net income $ 3,897 $ 3,269 $ 7,525 $ 5,554 Less preferred stock dividends (136 ) (136 ) (271 ) (276 ) Net income available for common stockholders 3,761 3,133 7,254 5,278 Weighted average number of common shares outstanding 9,635 9,274 9,590 9,271 Effect of dilutive options - - - - Weighted average number of common shares outstanding - used to calculate diluted earnings per common share 9,635 9,274 9,590 9,271 Earnings per common share: - - Basic $ 0.39 $ 0.34 $ 0.76 $ 0.57 Diluted $ 0.39 $ 0.34 $ 0.76 $ 0.57 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 4 – Investment Securities The amortized cost and fair value of investment securities, with gross unrealized gains and losses, follows: June 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities Available-for-Sale U.S. government agency and government sponsored enterprise (GSE) debt securities $ 100,454 $ - $ (2,163 ) $ 98,291 U.S. government agency pool securities 231,130 4 (1,314 ) 229,820 U.S. government agency or GSE residential mortgage-backed securities 84,646 - (2,563 ) 82,083 Total $ 416,230 $ 4 $ (6,040 ) $ 410,194 Securities Held-to-Maturity U.S. government agency and government sponsored enterprise (GSE) debt securities $ 42,812 $ 26 $ (164 ) $ 42,674 U.S. government agency pool securities 10,624 9 (18 ) 10,615 U.S. government agency or GSE residential mortgage-backed securities 25,852 33 (605 ) 25,280 Total $ 79,288 $ 68 $ (787 ) $ 78,569 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities Available-for-Sale U.S. government agency and government sponsored enterprise (GSE) debt securities $ 105,407 $ - $ (1,380 ) $ 104,027 U.S. government agency pool securities 283,611 51 (1,319 ) 282,343 U.S. government agency or GSE residential mortgage-backed securities 75,560 - (1,142 ) 74,418 Total $ 464,578 $ 51 $ (3,841 ) $ 460,788 Securities Held-to-Maturity U.S. government agency and government sponsored enterprise (GSE) debt securities $ 45,178 $ 505 $ (113 ) $ 45,570 U.S. government agency pool securities 11,756 33 (35 ) 11,754 U.S. government agency or GSE residential mortgage-backed securities 32,743 243 (311 ) 32,675 Total $ 89,677 $ 781 $ (459 ) $ 89,999 At June 30, 2018, and December 31, 2017, investment securities with a carrying value of $294.9 million and $307.3 million, respectively, were pledged to secure various government deposits and to meet other public requirements. Proceeds and gross realized gains (losses) from the sales or calls of investment securities for the three and six months ended June 30, 2018 and 2017, are shown below: Three Months Ended June 30, 2018 2017 Proceeds from sales $ 60,460 $ - Gross realized gains from sales $ - $ - Gross realized losses from sales $ (362 ) $ - Six Months Ended June 30, 2018 2017 Proceeds from sales $ 78,775 $ 12,896 Gross realized gains from sales $ - $ 1 Gross realized losses from sales $ (413 ) $ (14 ) The amortized cost and estimated fair value of investment securities by contractual maturity at June 30, 2018, and December 31, 2017, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or borrowers the right to prepay obligations with or without call or prepayment penalties. At June 30, 2018, obligations of U.S. government corporations and agencies with amortized costs totaling $ 495.5 June 30, 2018 Available-for-Sale Held-to-Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due within one year $ 68 $ 68 $ 9,006 $ 8,957 Due after one but within five years 104,717 102,535 43,849 43,753 Due after five but within ten years 73,671 72,554 16,410 16,144 Due after ten years 237,774 235,037 10,023 9,715 Total $ 416,230 $ 410,194 $ 79,288 $ 78,569 December 31, 2017 Available-for-Sale Held-to-Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due within one year $ 336 $ 336 $ 7,004 $ 6,978 Due after one but within five years 111,443 110,041 53,451 54,044 Due after five but within ten years 51,861 51,450 18,336 18,262 Due after ten years 300,938 298,961 10,886 10,715 Total $ 464,578 $ 460,788 $ 89,677 $ 89,999 Temporarily Impaired Securities The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2018, and December 31, 2017. June 30, 2018 Less Than Twelve Months More Than Twelve Months Total Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Securities Available for Sale U.S. government agency and government sponsored enterprise (GSE) debt securities $ (539 ) $ 29,347 $ (1,623 ) $ 68,945 $ (2,162 ) $ 98,292 U.S. government agency pool securities (174 ) 67,242 (1,141 ) 155,676 (1,315 ) 222,918 U.S. government agency or GSE residential mortgage-backed securities (1,117 ) 35,641 (1,446 ) 46,442 (2,563 ) 82,083 Total $ (1,830 ) $ 132,230 $ (4,210 ) $ 271,063 $ (6,040 ) $ 403,293 Securities Held to Maturity U.S. government agency and government sponsored enterprise (GSE) debt securities $ (80 ) $ 21,487 $ (840 ) $ 11,436 $ (920 ) $ 32,923 U.S. government agency pool securities (17 ) 1,832 (2 ) 2,082 (19 ) 3,914 U.S. government agency or GSE residential mortgage-backed securities (334 ) 14,379 (271 ) 4,235 (605 ) 18,614 Total $ (431 ) $ 37,698 $ (1,113 ) $ 17,753 $ (1,544 ) $ 55,451 December 31, 2017 Less Than Twelve Months More Than Twelve Months Total Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Securities Available for Sale U.S. government agency and government sponsored enterprise (GSE) debt securities $ (273 ) $ 29,582 $ (1,107 ) $ 74,445 $ (1,380 ) $ 104,027 U.S. government agency pool securities (241 ) 91,519 (1,078 ) 168,164 (1,319 ) 259,683 U.S. government agency or GSE residential mortgage-backed securities (321 ) 35,384 (821 ) 39,034 (1,142 ) 74,418 Total $ (835 ) $ 156,485 $ (3,006 ) $ 281,643 $ (3,841 ) $ 438,128 Securities Held to Maturity U.S. government agency and government sponsored enterprise (GSE) debt securities $ (33 ) $ 4,002 $ (80 ) $ 11,946 $ (113 ) $ 15,948 U.S. government agency pool securities (10 ) 5,422 (25 ) 3,201 (35 ) 8,623 U.S. government agency or GSE residential mortgage-backed securities (101 ) 8,478 (210 ) 5,371 (311 ) 13,849 Total $ (144 ) $ 17,902 $ (315 ) $ 20,518 $ (459 ) $ 38,420 The investment securities that were in an unrealized loss position as of June 30, 2018, which comprised a total of 164 securities, were not other-than-temporarily impaired. Specifically, the 164 securities are comprised of the following: 91 Small Business Administration (“SBA”) Pool securities, 19 mortgage-backed securities issued by the Government National Mortgage Association (“GNMA”), 24 mortgage-backed securities issued by the Federal National Mortgage Association (“FNMA”), 7 agency securities issued by the Federal Home Loan Bank (“FHLB”), 4 mortgage-backed securities and 1 step up bond issued by the Federal Home Loan Mortgage Corporation (“FHLMC”), 1 agency security issued by the Federal Farm Credit Banks (“FFCB”), and 17 U.S. Treasuries. Total gross unrealized losses were primarily attributable to changes in market interest rates, relative to when the investment securities were purchased, and not due to any change in the credit quality of the investment securities. The Company does not intend to sell the investment securities that were in an unrealized loss position and it is not likely that the Company will be required to sell the investment securities before recovery of their amortized cost, which may be at maturity. However, the Company may elect to sell certain investment securities with an unrealized loss position in its “available for sale” portfolio as needed to replenish its cash liquidity. Investment in Unconsolidated Subsidiary In May 2016, the Company entered into a Stock Purchase Agreement to acquire 25% of ASC Trust Corporation, a Guam trust company. In July 2016, subsequent to the approval of the Federal Reserve Bank of San Francisco in June 2016, the purchase was executed. |
Loans Held for Sale, Loans and
Loans Held for Sale, Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Loans Held for Sale, Loans and Allowance for Loan Losses | Note 5 – Loans Held for Sale, Loans and Allowance for Loan Losses Loans Held for Sale In its normal course of business, the Bank originates mortgage loans held for sale to the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”). The Bank has elected to measure its residential mortgage loans held for sale at cost. Origination fees and costs are recognized in earnings at the time of origination. Loans are sold to Freddie Mac at par. During the six months ended June 30, 2018 and 2017, the Bank originated and sold approximately $6.2 million and $8.5 million, respectively, in FHLMC mortgage loans. Mortgage loans serviced for others are not included in the accompanying condensed consolidated statements of condition. The unpaid principal balances of mortgage loans serviced for others were $200.2 million and $206.4 million at June 30, 2018, and December 31, 2017, respectively. The decrease of $6.1 million (3.0%) during the six months ended June 30, 2018 was due to scheduled principal payments and prepayments. We retain mortgage servicing rights on mortgage loans that we sell. Such rights represent the net positive cash flows generated from the servicing of such mortgage loans and we recognize such rights as assets on our statements of financial condition based on their estimated fair values. We receive servicing fees, less any subservicing costs, on the unpaid principal balances of such mortgage loans. Those fees are collected from the monthly payments made by the mortgagors or from the proceeds of the sale or foreclosure and liquidation of the underlying real property collateralizing the loans. At June 30, 2018, and December 31, 2017, mortgage servicing rights totaled $1.9 million and $1.9 million, respectively, and are included in other assets in the accompanying condensed consolidated statements of condition. The Bank accounts for mortgage servicing rights at fair value with changes in fair value recorded in the condensed consolidated statements of income. Loans Outstanding loan balances are presented net of unearned income, deferred loan fees, and unamortized discount and premium. Loans subject to ASC 310-30 are presented net of the related accretable yield. The loan portfolio consisted of the following at: June 30, 2018 December 31, 2017 Amount Percent Amount Percent Commercial Commercial & industrial $ 254,528 20.2 % $ 256,022 20.8 % Commercial mortgage 579,902 46.1 % 553,125 45.0 % Commercial construction 23,657 1.9 % 10,157 0.8 % Commercial agriculture 702 0.1 % 716 0.1 % Total commercial 858,789 68.3 % 820,020 66.7 % Consumer Residential mortgage 136,284 10.8 % 137,962 11.2 % Home equity 1,137 0.1 % 545 0.0 % Automobile 29,503 2.3 % 30,490 2.5 % Other consumer loans 1 231,517 18.4 % 240,863 19.6 % Total consumer 398,441 31.7 % 409,860 33.3 % Gross loans 1,257,230 100.0 % 1,229,880 100.0 % Deferred loan (fees) costs, net (2,882 ) (2,777 ) Allowance for loan losses (18,806 ) (17,279 ) Loans, net $ 1,235,542 $ 1,209,824 1 Comprised of other revolving credit, installment loans, and overdrafts. Allowance for Loan Losses The allowance for loan losses is evaluated on a quarterly basis by Bank management, and is based upon management’s periodic review of the collectability of 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 or conditions change. The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. ASC 310-10 defines an impaired loan as one for which there is uncertainty concerning collection of all principal and interest per the original contractual terms of the loan. For those loans that are classified as impaired, an allowance is established when the discounted cash flow (or the collateral value or the observable market price) of the impaired loan is lower than the carrying value of the loan. The general component covers unimpaired loans, and is estimated using a loss migration analysis based on historical charge-off experience and expected loss, given the default probability derived from the Bank’s internal risk rating process. The loss migration analysis tracks twelve rolling quarters of loan loss history and industry loss factors to determine historical losses by classification category for each loan type, except certain consumer loans. These calculated loss factors are then applied to outstanding loan balances for all non-impaired loans. Additionally, a qualitative factor that is determined utilizing external economic factors and internal assessments is applied to each homogeneous loan pool. We also conduct individual loan review analyses, as part of the allowance for loan loss allocation process, applying specific monitoring policies and procedures in analyzing the existing loan portfolio. Set forth below is a summary of the Bank’s activity in the allowance for loan losses during the three and six months ended June 30, 2018 and 2017, and the year ended December 31, 2017: Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Six Months Ended June 30, 2018 Six Months Ended June 30, 2017 Year Ended December 31, 2017 Balance, beginning of period $ 18,057 $ 15,335 $ 17,279 $ 15,435 $ 15,435 Provision for loan losses 2,099 1,184 4,838 2,367 7,519 Recoveries on loans previously charged off 478 460 936 797 1,604 Charged off loans (1,828 ) (1,608 ) (4,247 ) (3,228 ) (7,279 ) Balance, end of period $ 18,806 $ 15,371 $ 18,806 $ 15,371 $ 17,279 Set forth below is information regarding loan balances and the related allowance for loan losses, by portfolio type, for the three and six months ended June 30, 2018 and 2017, and the year ended December 31, 2017, respectively. Commercial Residential Mortgages Consumer Total (Dollars in thousands) Six Months Ended June 30, 2018 Allowance for loan losses: Balance at beginning of period $ 7,623 $ 1,409 $ 8,247 $ 17,279 Charge-offs (302 ) - (3,945 ) (4,247 ) Recoveries 27 3 906 936 Provision 3,857 174 807 4,838 Balance at end of period $ 11,205 $ 1,586 $ 6,015 $ 18,806 Three Months Ended June 30, 2018 Allowance for loan losses: Balance at beginning of period 10,602 1,278 6,177 18,057 Charge-offs 11 - (1,839 ) (1,828 ) Recoveries 6 2 470 478 Provision 586 306 1,207 2,099 Ending balance $ 11,205 $ 1,586 $ 6,015 $ 18,806 Allowance balance at end of period related to: Loans individually evaluated for impairment $ 64 $ 102 $ 1,675 $ 1,841 Loans collectively evaluated for impairment 11,141 1,484 4,340 16,965 Ending balance $ 11,205 $ 1,586 $ 6,015 $ 18,806 Loan balances at end of period: Loans individually evaluated for impairment $ 8,444 $ 5,125 $ 2,066 $ 15,635 Loans collectively evaluated for impairment 850,345 132,296 258,954 1,241,595 Ending balance $ 858,789 $ 137,421 $ 261,020 $ 1,257,230 Six Months Ended June 30, 2017 Allowance for loan losses: Balance at beginning of period $ 7,264 $ 1,773 $ 6,398 $ 15,435 Charge-offs - (30 ) (3,198 ) (3,228 ) Recoveries 30 3 764 797 Provision 200 6 2,161 2,367 Ending balance $ 7,494 $ 1,752 $ 6,125 $ 15,371 Three Months Ended June 30, 2017 Allowance for loan losses: Balance at beginning of period $ 8,685 $ 1,879 $ 4,771 $ 15,335 Charge-offs - (29 ) (1,579 ) (1,608 ) Recoveries 20 1 439 460 Provision (1,211 ) (99 ) 2,494 1,184 Ending balance $ 7,494 $ 1,752 $ 6,125 $ 15,371 Allowance balance at end of period related to: Loans individually evaluated for impairment $ 3 $ 6 $ 1,062 $ 1,071 Loans collectively evaluated for impairment 7,491 1,746 5,063 14,300 Ending balance $ 7,494 $ 1,752 $ 6,125 $ 15,371 Loan balances at end of period: Loans individually evaluated for impairment $ 6,643 $ 6,269 $ 1,390 $ 14,302 Loans collectively evaluated for impairment 770,882 133,960 243,519 1,148,361 Ending balance $ 777,525 $ 140,229 $ 244,909 $ 1,162,663 Year Ended December 31, 2017 Allowance for loan losses: Balance at beginning of year $ 7,264 $ 1,773 $ 6,398 $ 15,435 Charge-offs (172 ) (145 ) (6,962 ) (7,279 ) Recoveries 47 6 1,551 1,604 Provision 484 (225 ) 7,260 7,519 Ending balance $ 7,623 $ 1,409 $ 8,247 $ 17,279 Allowance balance at end of year related to: Loans individually evaluated for impairment $ 28 $ 90 $ 1,747 $ 1,865 Loans collectively evaluated for impairment 7,595 1,319 6,500 15,414 Ending balance $ 7,623 $ 1,409 $ 8,247 $ 17,279 Loan balances at end of year: Loans individually evaluated for impairment $ 7,094 $ 5,442 $ 2,237 $ 14,773 Loans collectively evaluated for impairment 812,926 133,065 269,116 1,215,107 Ending balance $ 820,020 $ 138,507 $ 271,353 $ 1,229,880 Impairment is measured on a loan-by-loan basis for commercial and real estate 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). Large groups of smaller-balance homogeneous loans are collectively evaluated for impairment. The Bank performs direct write-downs of impaired loans with a charge to the allocated component of the allowance, therefore reducing the allocated component of the allowance to zero at the end of each reporting period. Credit Quality The following table provides a summary of the delinquency status of the Bank’s loans by portfolio type: 30-59 Days Past Due 60-89 Days Past Due 90 Days and Greater Non-Accrual 90 Days and Greater Still Accruing Total Past Due Current Total Loans Outstanding June 30, 2018 Commercial Commercial & industrial $ 675 $ 88 $ 132 $ - $ 895 $ 253,633 $ 254,528 Commercial mortgage 2,449 141 1,587 301 4,478 575,424 579,902 Commercial construction - - - - - 23,657 23,657 Commercial agriculture - - - - - 702 702 Total commercial 3,124 229 1,719 301 5,373 853,416 858,789 Consumer Residential mortgage 4,295 3,976 1,396 31 9,698 126,586 136,284 Home equity - 94 - - 94 1,043 1,137 Automobile 1,385 310 - 112 1,807 27,696 29,503 Other consumer 1 3,025 1,620 229 1,530 6,404 225,113 231,517 Total consumer 8,705 6,000 1,625 1,673 18,003 380,438 398,441 Total $ 11,829 $ 6,229 $ 3,344 $ 1,974 $ 23,376 $ 1,233,854 $ 1,257,230 December 31, 2017 Commercial Commercial & industrial $ 155 $ 546 $ - $ 20 $ 721 $ 255,301 $ 256,022 Commercial mortgage - 803 364 - 1,167 551,958 553,125 Commercial construction - - - - - 10,157 10,157 Commercial agriculture - - - - - 716 716 Total commercial 155 1,349 364 20 1,888 818,132 820,020 Consumer Residential mortgage 5,804 3,046 2,373 - 11,223 126,739 137,962 Home equity 7 96 - - 103 442 545 Automobile 1,512 415 - 201 2,128 28,362 30,490 Other consumer 1 3,513 2,157 257 1,725 7,652 233,211 240,863 Total consumer 10,836 5,714 2,630 1,926 21,106 388,754 409,860 Total $ 10,991 $ 7,063 $ 2,994 $ 1,946 $ 22,994 $ 1,206,886 $ 1,229,880 1 Comprised of other revolving credit, installment loans, and overdrafts. Generally, the accrual of interest on a loan is discontinued when principal or interest payments become more than 90 days past due, unless management believes the loan is adequately collateralized and is in the process of collection, with the exception of automobile and other consumer loans which, rather than being placed on non-accrual status, are charged off once they become 120 days delinquent. When a loan is placed on non-accrual status, previously accrued but unpaid interest is reversed against current income. Subsequent collections of cash are applied as principal reductions when received, except when the ultimate collectability of principal is probable, in which case interest payments are credited to income. Non-accrual loans may be restored to accrual status when principal and interest become current and full repayment is expected. The following table provides information as of June 30, 2018, and December 31, 2017, with respect to loans on non-accrual status, by portfolio type: June 30, 2018 December 31, 2017 (Dollars in thousands) Non-accrual loans: Commercial Commercial & industrial $ 388 $ 426 Commercial mortgage 7,172 6,554 Commercial construction - - Commercial agriculture - - Total commercial 7,560 6,980 Consumer Residential mortgage $ 5,094 $ 6,063 Home equity - - Automobile - - Other consumer 1 424 311 Total consumer 5,518 6,374 Total non-accrual loans $ 13,078 $ 13,354 1 Comprised of other revolving credit, installment loans, and overdrafts. Credit Quality Indicators The Bank uses several credit quality indicators to manage credit risk, including an internal credit risk rating system that categorizes loans into pass, special mention, substandard, formula classified, doubtful or loss categories. Credit risk ratings are applied individually to those classes of loans that have significant or unique credit characteristics and that benefit from a case-by-case evaluation. These are typically loans to businesses or individuals in the classes which comprise the commercial portfolio segment. Groups of loans that are underwritten and structured using standardized criteria and characteristics, such as statistical models (e.g., credit scoring or payment performance), are typically risk-rated and monitored collectively. These are typically loans to individuals in the classes which comprise the consumer portfolio segment. The following are the definitions of the Bank’s credit quality indicators: Pass (A): Exceptional: Essentially risk-free credit. These are loans of the highest quality that pose virtually no risk of loss to the Bank. This includes loans fully collateralized by means of a savings account(s) and time certificate(s) of deposit, and by at least 110% of the loan amount. Borrowers should have strong financial statements, good liquidity and excellent credit. Pass (B): Standard: Multiple, strong sources of repayment. These are loans to borrowers with a demonstrated history of financial and managerial performance. The risk of loss is considered to be low. Loans are well-structured, with clearly identified primary and readily available secondary sources of repayment. These loans may be secured by an equal amount of funds in a savings account or time certificate of deposit. These loans may also be secured by marketable collateral whose value can be reasonably determined through outside appraisals. The borrower characteristically has well supported cash flows and low leverage. Pass (C): Acceptable: Good primary and secondary sources of repayment. These are loans to borrowers of average financial condition, stability and management expertise. The borrower should be a well-established individual or company with adequate financial resources to withstand short-term fluctuations in the marketplace. The borrower’s financial ratios and trends are favorable. The loans may be unsecured or supported by non-real estate collateral for which the value is more difficult to determine, represent a reasonable credit risk and require an average amount of account officer attention. The borrower’s ability to repay unsecured credit is to be of unquestionable strength. Pass (D): Monitor: Sufficient primary sources of repayment and an acceptable secondary source of repayment. Acceptable business or individual credit, but the borrower’s operations, cash flows or financial conditions carry average levels of risk. These loans are considered to be collectable in full, but may require a greater-than-average amount of loan officer monitoring. Borrowers are capable of absorbing normal setbacks without failing to meet the terms of the loan agreement. Special Mention: A Special Mention asset has potential weaknesses that deserve a heightened degree of monitoring. These potential weaknesses may result in a 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. The Special Mention classification should neither be a compromise between a pass grade and substandard, nor should it be a “catch all” grade to identify any loan that has a policy exception. Substandard: A Substandard asset is inadequately protected by the current sound worth and payment capacity of the obligor or the collateral pledged. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Assets classified as substandard are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Formula Classified: Formula Classified loans are all loans and credit cards delinquent 90 days and over which have yet to be formally classified Special Mention, Substandard or Doubtful by the Bank’s Loan Committee. In most instances, the monthly formula total is comprised primarily of residential real estate loans, consumer loans, credit cards and commercial loans under $250 thousand. However, commercial loans are typically formally classified by the Loan Committee no later than their 90-day delinquency, and those do not become part of the formula classification. Real estate loans 90-days delinquent that are in the foreclosure process, which is typically completed within another 60 days, are not formally classified during this period. Doubtful: A loan with weaknesses well enough defined that eventual repayment in full, on the basis of currently existing facts, conditions and values, is highly questionable, even though certain factors may be present which could improve the status of the loan. The probability of some loss is extremely high, but because of certain known factors that may work to the advantage of strengthening of the assets (i.e. capital injection, perfecting liens on additional collateral, refinancing plans, etc.), its classification as an estimated loss is deferred until its more exact status can be determined. Loss: Loans classified as “Loss” are considered uncollectible, and are either unsecured or are supported by collateral that is of little to no value. As such, their continuance as recorded assets is not warranted. While this classification does not mandate that a loan has no ultimate recovery value, losses should be taken in the period during which these loans are deemed to be uncollectible. Loans identified as loss are immediately approved for charge-off. The Bank may refer loans to outside collection agencies, attorneys, or its internal collection division to continue collection efforts. Any subsequent recoveries are credited to the Allowance for Loan Losses. The Bank classifies its loan portfolios using internal credit quality ratings, as discussed above under Allowance for Loan Losses June 30, 2018 December 31, 2017 Increase (Decrease) (Dollars in thousands) Pass: Commercial & industrial $ 222,055 $ 222,662 $ (607 ) Commercial mortgage 538,224 511,702 26,522 Commercial construction 23,657 10,157 13,500 Commercial agriculture 702 716 (14 ) Residential mortgage 130,830 131,743 (913 ) Home equity 1,137 538 599 Automobile 29,391 30,289 (898 ) Other consumer 229,563 238,827 (9,264 ) Total pass loans $ 1,175,559 $ 1,146,634 $ 28,925 Special Mention: Commercial & industrial $ 2,105 $ 20,528 $ (18,423 ) Commercial mortgage 4,946 32,723 (27,777 ) Commercial construction - - - Commercial agriculture - - - Residential mortgage 1 139 (138 ) Home equity - - - Automobile - - - Other consumer - - - Total special mention loans $ 7,052 $ 53,390 $ (46,338 ) Substandard: Commercial & industrial $ 30,353 $ 12,810 $ 17,543 Commercial mortgage 36,431 8,700 27,731 Commercial construction - - - Commercial agriculture - - - Residential mortgage 726 645 81 Home equity - - - Automobile - - - Other consumer - - - Total substandard loans $ 67,510 $ 22,155 $ 45,355 Formula Classified: Commercial & industrial $ 15 $ 22 $ (7 ) Commercial mortgage 301 - 301 Commercial construction - - - Commercial agriculture - - - Residential mortgage 4,727 5,435 (708 ) Home equity - 7 (7 ) Automobile 112 201 (89 ) Other consumer 1,954 2,036 (82 ) Total formula classified loans $ 7,109 $ 7,701 $ (592 ) Doubtful: Commercial & industrial $ - $ - $ - Commercial mortgage - - - Commercial construction - - - Commercial agriculture - - - Residential mortgage - - - Home equity - - - Automobile - - - Other consumer - - - Total doubtful loans $ - $ - $ - Total outstanding loans, gross $ 1,257,230 $ 1,229,880 $ 27,350 As the above table indicates, the Bank’s total gross loans approximated $1.26 billion at June 30, 2018, up from $1.23 billion at December 31, 2017. The disaggregation of the portfolio by risk rating in the table reflects the following changes between December 31, 2017, and June 30, 2018: • Loans rated “pass” increased by $28.9 million to $1.18 billion at June 30, 2018, up from $1.15 billion at December 31, 2017. The increase was primarily in commercial mortgage loans, which grew by $26.5 million, commercial construction, which rose by $13.5 million and home equity loans, which were up by $599 thousand. These increases were primarily offset by decreases in other consumer loans by $9.3 million, residential mortgages by $913 thousand, automobile loans by $898 thousand and commercial & industrial loans by $607 thousand. The increases in commercial mortgage loans and home equity loans are due to new loans, and the increase in commercial construction loans is due to new loans and additional disbursements. The decrease in other consumer loans of $9.3 million was due to pay offs, pay downs, charge offs and loans reclassified from “pass” to “formula classified”. • The “special mention” category decreased by $46.3 million, from $53.4 million to $7.1 million between December 31, 2017 and June 30, 2018. This is attributed to a decrease in special mention commercial mortgage loans by $27.8 million, primarily as a result of one loan relationship that was reclassified from “special mention” to “substandard.” Additionally, there was a decrease in special mention commercial & industrial loans by $18.4 million, principally due to paydowns, pay offs and the reassignment of risk reclassifications. • Loans classified “substandard” increased by $45.4 million, to $67.5 million at June 30, 2018, from $22.2 million at December 31, 2017. The increase was the result of the reclassification of one loan relationship in commercial mortgage notes, as mentioned above, and one loan relationship in commercial & industrial of $16.9 million reclassified to “substandard” from “special mention.” • The “formula classified” category decreased by $592 thousand, to $7.1 million at June 30, 2018, from $7.7 million at December 31, 2017, primarily due to a decrease of $708 thousand in residential mortgage loans in this category. • There were no loans classified as “doubtful” at either June 30, 2018, or December 31, 2017. Impaired Loans A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due according to the original 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. Impaired loans include loans that are in non-accrual status and other loans that have been modified in Troubled Debt Restructurings (TDRs), where economic concessions have been granted to borrowers experiencing financial difficulties. These concessions typically result from the Bank’s loss mitigation actions, and could include reductions in the interest rate, payment extensions, forbearance, or other actions taken with the intention of maximizing collections. The following table sets forth information regarding non-accrual loans and restructured loans, at June 30, 2018, and December 31, 2017: June 30, 2018 December 31, 2017 (Dollars in thousands) Impaired loans: Restructured loans: Non-accruing restructured loans $ 5,067 $ 5,265 Accruing restructured loans 259 305 Total restructured loans 5,326 5,570 Other impaired loans 10,309 9,203 Total impaired loans $ 15,635 $ 14,773 Impaired loans less than 90 days delinquent and included in total impaired loans $ 10,316 $ 6,651 The table below contains additional information with respect to impaired loans, by portfolio type, at June 30, 2018, and December 31, 2017: Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Income Recognized (Dollars in thousands) June 30, 2018, With no related allowance recorded: Commercial & industrial $ 784 $ 784 $ 637 $ 2 Commercial mortgage 6,947 6,947 6,520 - Commercial construction - - - - Commercial agriculture - - - - Residential mortgage 27 27 27 1 Home equity - - - - Automobile - - - - Other consumer - - - - Total impaired loans with no related allowance $ 7,758 $ 7,758 $ 7,184 $ 3 June 30, 2018, With a related allowance recorded: Commercial & industrial $ 187 $ 383 $ 219 $ - Commercial mortgage 526 551 473 5 Commercial construction - - - - Commercial agriculture - - - - Residential mortgage 5,097 5,148 5,153 - Home equity - - - - Automobile 65 65 92 1 Other consumer 2,002 1,751 1,999 15 Total impaired loans with a related allowance $ 7,877 $ 7,898 $ 7,936 $ 21 December 31, 2017, With no related allowance recorded: Commercial & industrial $ 515 $ 515 $ 532 $ 1 Commercial mortgage 6,192 6,192 5,767 - Commercial construction - - - - Commercial agriculture - - - - Residential mortgage - - - - Home equity - - - - Automobile - - - - Other consumer - - - - Total impaired loans with no related allowance $ 6,707 $ 6,707 $ 6,299 $ 1 December 31, 2017, With a related allowance recorded: Commercial & industrial $ 180 $ 351 $ 113 $ 1 Commercial mortgage 208 233 264 - Commercial construction - - - - Commercial agriculture - - - - Residential mortgage 5,435 5,448 5,644 - Home equity 7 7 7 - Automobile 201 211 108 3 Other consumer 2,035 2,035 1,629 17 Total impaired loans with a related allowance $ 8,066 $ 8,285 $ 7,765 $ 21 Impairment is measured on a loan-by-loan basis for commercial and real estate 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). Large groups of smaller-balance, homogeneous loans are collectively evaluated for impairment. The Bank performs direct write-downs of impaired loans with a charge to the allocated component of the allowance for loan losses, thereby reducing the allocated component of the allowance to zero at the end of each reporting period. Troubled Debt Restructurings In accordance with FASB’s Accounting Standards Update No. 2011-02, “A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring” Additional information regarding performing and nonperforming TDRs at June 30, 2018, and December 31, 2017, is set forth in the following table: Pre-Modification Outstanding Post-Modification Outstanding Outstanding Balance Number of Loans Recorded Investment Principal Modifications Recorded Investment June 30, 2018 December 31, 2017 Performing Residential mortgage - $ - $ - $ - $ - $ - Commercial mortgage 2 369 - 369 259 305 Automobile - - - - - - Consumer - - - - - - Total performing 2 $ 369 $ - $ 369 $ 259 $ 305 Nonperforming Residential mortgage - $ - $ - $ - $ - $ - Commercial mortgage 8 7,939 - 7,939 5,067 5,265 Automobile - - - - - - Consumer - - - - - - Total nonperforming 8 $ 7,939 $ - $ 7,939 $ 5,067 $ 5,265 Total Troubled Debt Restructurings (TDRs) 10 $ 8,308 $ - $ 8,308 $ 5,326 $ 5,570 Principal modification includes principal forgiveness at the time of modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with zero percent contractual interest rate. During the six months ended June 30, 2018 and 2017, no loans were modified as troubled debt restructurings. There were no defaults on troubled debt restructurings within twelve months following the modification during the six months ended June 30, 2018 and 2017. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 6 – Commitments and Contingencies The Bank is involved in certain legal actions and claims that arise in the ordinary course of business. Management believes that, as a result of its legal defenses and insurance arrangements, none of these matters is expected to have a material adverse effect on the Bank’s, BGIS’s or the Company’s financial condition, results of operations or cash flows. |
Regulatory Capital Requirements
Regulatory Capital Requirements | 6 Months Ended |
Jun. 30, 2018 | |
Banking And Thrift [Abstract] | |
Regulatory Capital Requirements | Note 7 – Regulatory Capital Requirements The Bank is subject to various regulatory capital requirements administered by the United States federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s, BGIS’s and the Company’s condensed consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items, as calculated under regulatory accounting practices. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the following table) of Total and Tier 1 capital (as defined in the regulations) to risk weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). As of June 30, 2018, and December 31, 2017, the Bank met all capital adequacy requirements to which it is subject. In December 2010, the Basel Committee on Bank Supervision (“Basel Committee”) released its final framework for strengthening international capital and liquidity regulation, now officially identified as “Basel III,” which, when fully phased-in, would require bank holding companies and their bank subsidiaries to maintain substantially more capital than had previously been required, with a greater emphasis on common equity. In July 2013, the U.S. banking regulatory agencies approved the U.S. version of Basel III. The agencies-adopted version of Basel III revises the risk-based and leverage capital requirements and the method for calculating risk-weighted assets to make them consistent with Basel III and to meet the requirements of the Dodd-Frank Act. Although many of the rules contained in these final regulations are applicable only to large, internationally active banks, some of them apply on a phased-in basis to all banking organizations, including the Company and the Bank. Among other things, the rules establish a new minimum common equity Tier 1 ratio (4.5% of risk-weighted assets), a higher minimum Tier 1 risk-based capital requirement (6.0% of risk-weighted assets) and a minimum non-risk-based leverage ratio (4.0%, eliminating a 3.0% exception for higher rated banks). The new additional capital conservation buffer of 2.5% of risk weighted assets over each of the required capital ratios are being phased in from 2016 to 2019 (1.875% in 2018 and 1.25% in 2017) and must be met to avoid limitations on the ability of the Company and the Bank to pay dividends, repurchase shares or pay discretionary bonuses. An additional “countercyclical capital buffer” is required for larger and more complex institutions. The new rules assign higher risk weighting to exposures that are more than 90 days past due or are on nonaccrual status and certain commercial real estate facilities that finance the acquisition, development or construction of real property. The rules also change the permitted composition of Tier 1 capital to exclude trust preferred securities, mortgage servicing rights and certain deferred tax assets, and include unrealized gains and losses on available-for-sale debt and equity securities (through a one-time opt out option for Standardized Banks (banks with less than $250 billion of total consolidated assets and less than $10 billion of foreign exposures) which the Company and the Bank elected at March 31, 2015). The rules, including alternative requirements for smaller community financial institutions like the Company and the Bank, will be phased in through 2019. As of June 30, 2018, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum Total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since the notification that management believes have changed the Bank’s category. The Bank’s actual capital amounts and ratios as of June 30, 2018, and December 31, 2017, are also presented in the table below. Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio At June 30, 2018: Total capital (to Risk Weighted Assets) $ 160,255 12.860 % $ 123,053 9.875 % $ 124,611 10.000 % Tier 1 capital (to Risk Weighted Assets) $ 144,638 11.607 % $ 98,131 7.875 % $ 99,689 8.000 % Tier 1 capital (to Average Assets) $ 144,638 7.426 % $ 77,905 4.000 % $ 97,381 5.000 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 139,638 11.206 % $ 79,439 6.375 % $ 80,997 6.500 % At December 31, 2017: Total capital (to Risk Weighted Assets) $ 151,699 12.490 % $ 112,347 9.250 % $ 121,456 10.000 % Tier 1 capital (to Risk Weighted Assets) $ 136,521 11.240 % $ 88,056 7.250 % $ 97,165 8.000 % Tier 1 capital (to Average Assets) $ 136,521 6.968 % $ 78,373 4.000 % $ 97,967 5.000 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 131,521 10.829 % $ 69,837 5.750 % $ 78,946 6.500 % In addition, the Company’s actual capital amounts and ratios as of June 30, 2018, and December 31, 2017, are also presented in the table below. Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio At June 30, 2018: Total capital (to Risk Weighted Assets) $ 164,719 13.184 % $ 123,377 9.875 % $ 124,939 10.000 % Tier 1 capital (to Risk Weighted Assets) $ 149,062 11.931 % $ 98,389 7.875 % $ 99,951 8.000 % Tier 1 capital (to Average Assets) $ 149,062 7.641 % $ 78,032 4.000 % $ 97,540 5.000 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 139,280 11.148 % $ 79,648 6.375 % $ 81,210 6.500 % At December 31, 2017: Total capital (to Risk Weighted Assets) $ 156,300 12.834 % $ 112,648 9.250 % $ 121,781 10.000 % Tier 1 capital (to Risk Weighted Assets) $ 141,052 11.582 % $ 88,291 7.250 % $ 97,425 8.000 % Tier 1 capital (to Average Assets) $ 141,052 7.187 % $ 78,504 4.000 % $ 98,130 5.000 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 131,269 10.779 % $ 70,024 5.750 % $ 79,158 6.500 % Stock Purchase Plan Under the Bank’s 2011 Employee Stock Purchase Plan, eligible employees can purchase, through payroll deductions, shares of common stock at a discount. The right to purchase stocks is granted to eligible employees during a quarterly offer period that is established from time to time by the Board of Directors of the Company. Eligible employees cannot accrue the right to purchase more than $25 thousand worth of stock at the fair market value at the beginning of each offer period. Eligible employees also may not purchase more than one thousand five hundred (1,500) shares of stock in any one offer period. The shares are purchased at 85% of the fair market price of the stock on the enrollment date. Non-Cumulative Perpetual Preferred Stock At June 30, 2018, the Company had outstanding 9,783 shares of its non-voting Series A Non-Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”). The shares of Series A Preferred Stock have an initial fixed yield of 5.5% per annum, but the yield becomes floating at June 30, 2021, after which the annual yield will be the three-month LIBOR rate plus 4.825%. The Series A Preferred Stock carries a liquidation preference of $1 thousand per share. |
Off-Balance-Sheet Activities
Off-Balance-Sheet Activities | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Off-Balance-Sheet Activities | Note 8 – Off-Balance-Sheet Activities The Bank is a party to credit-related financial instruments with off-balance-sheet risk to meet the financing needs of its customers in the normal course of business. These financial instruments include commitments to extend credit, standby letters of credit, and commercial letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in addition to the amount reflected in the condensed consolidated financial statements. The Bank’s exposure to credit loss, in the event of nonperformance by the other parties to financial instruments for loan commitments and letters of credit, is represented by the contractual amount of these instruments. The Bank follows the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. A summary of financial instruments with off-balance-sheet risk at June 30, 2018, and December 31, 2017, is as follows: June 30, 2018 December 31, 2017 Commitments to extend credit $ 138,550 $ 159,767 Letters of credit: Standby letters of credit $ 56,755 $ 54,707 Commercial letters of credit 3,911 2,601 Total $ 60,666 $ 57,308 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The commitments for some lines of credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation of the customer. There was $27 thousand in reserve liabilities associated with these commitments at June 30, 2018. Commercial and standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party or the shipment of merchandise from a third party. These letters of credit are primarily issued to support public and private borrowing arrangements. The majority of all letters of credit issued have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers, and similar credit underwriting standards are applied. The Bank generally holds collateral supporting those commitments. The Bank considers its standby and other letters of credit to be payment guarantees. At June 30, 2018, the maximum undiscounted future payments that the Bank could be required to make for all outstanding letters of credit were $60.7 million. All of these arrangements mature within one year. The Bank has recourse to recover from the customer any amounts paid under these guarantees. Most of the guarantees are fully collateralized; however, several are unsecured. The Bank had recorded $27 thousand in reserve liabilities associated with these guarantees at June 30, 2018. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 9 – Income Taxes We record an amount equal to the tax credits, tax loss carry-forwards and tax deductions (“tax benefits”) that we believe will be available to us to offset or reduce the amounts of our income taxes in future periods as a deferred tax asset on our condensed consolidated statements of condition. Under applicable federal and state income tax laws and regulations in the United States, such tax benefits will expire if not used within specified periods of time. Accordingly, the ability to fully use our deferred tax asset depends on the amount of taxable income that we generate during those time periods. At least once each year, or more frequently if warranted, we make estimates of future taxable income that we believe we are likely to generate during those future periods. If we conclude, on the basis of those estimates and the amount of the tax benefits available to us, that it is more likely than not that we will be able to fully utilize those tax benefits prior to their expiration, we recognize the deferred tax asset in full on our balance sheet. On the other hand, if we conclude on the basis of those estimates and the amount of the tax benefits available to us that it has become more likely than not that we will be unable to utilize those tax benefits in full prior to their expiration, then we would establish a (or increase any existing) valuation allowance to reduce the deferred tax asset on our balance sheet to the amount which we believe we are more likely than not to be able to utilize. Such a reduction is implemented by recognizing a non-cash charge that would have the effect of increasing the provision, or reducing any credit, for income taxes that we would otherwise have recorded in our consolidated statements of income. The determination of whether and the extent to which we will be able to utilize our deferred tax asset involves significant management judgments and assumptions that are subject to period-to-period changes as a result of changes in tax laws, changes in the market, or economic conditions that could affect our operating results or variances between our actual operating results and our projected operating results, as well as other factors. A valuation allowance of $2.0 million has been provided at June 30, 2018, and December 31, 2017, to reduce the deferred tax asset because, in management’s opinion, it is more likely than not that less than the entire amount will be realized. The portion of the deferred tax asset with valuation allowance is attributable to a cumulative net operating loss carry forward from the Bank’s CNMI operations, which losses management anticipates will continue. The charge from the net operating loss has already been realized in the accompanying condensed consolidated statements of income as a result of the Guam income tax code. The difference between the effective income tax expense and the income tax expense computed at the Guam statutory rate was due to nontaxable interest income earned on loans to the Government of Guam. In addition to filing a federal income tax return in Guam, the Bank files income tax returns in the CNMI and the State of California. The Bank is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2011. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 10 – Fair Value Measurements The Bank uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with ASC Topic 820 “Fair Value Measurements and Disclosures” Fair Value Hierarchy In accordance with the guidance of ASC Topic 820, the Bank groups its financial assets and financial liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Level 1: Valuation is based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market, as well as certain U.S. Treasury securities that are highly liquid and are actively traded in over-the-counter markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2: Valuation is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3: Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Financial assets measured at fair value on a recurring basis as of June 30, 2018, and December 31, 2017, are as follows: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total At June 30, 2018 U.S. treasury notes and bonds $ 53,874 $ - $ - $ 53,874 U.S. government agency and sponsored enterprise (GSE) debt securities - 44,417 - 44,417 U.S. government agency pool securities - 229,820 - 229,820 U.S. government agency or GSE - 82,083 - 82,083 Other assets: MSRs - - 1,873 1,873 Total fair value $ 53,874 $ 356,320 $ 1,873 $ 412,067 At December 31, 2017 U.S. treasury notes and bonds $ 59,169 $ - $ - $ 59,169 U.S. government agency and sponsored enterprise (GSE) debt securities - 44,858 - 44,858 U.S. government agency pool securities - 282,343 - 282,343 U.S. government agency or GSE - 74,418 - 74,418 Other assets: MSRs - - 1,903 1,903 Total fair value $ 59,169 $ 401,619 $ 1,903 $ 462,691 There were no liabilities measured at fair value on a recurring basis as of June 30, 2018, and December 31, 2017. During the six months ended June 30, 2018 and 2017, the changes in Level 3 assets measured at fair value on a recurring basis are as follows: Six Months Ended June 30, 2018 2017 Beginning balance $ 1,903 $ 1,527 Realized and unrealized net gains: Included in net income (30 ) (12 ) Included in other comprehensive income - - Purchases, issuance and settlements Purchases - - Issuances - - Settlements - - Ending balance $ 1,873 $ 1,515 The valuation technique used for Level 3 mortgage servicing rights (“MSRs”) is their discounted cash flow. Inputs considered in determining Level 3 pricing include the anticipated prepayment rates, discount rates, and cost to service. Significant increases or decreases in any of those inputs in isolation would result in a significantly lower or higher fair value measurement. The following table presents quantitative information about the valuation technique and unobservable inputs applied to Level 3 fair value measurements for financial instruments measured at fair value on a recurring basis: Estimated Fair Value Valuation Technique Unobservable Inputs Range of Inputs Weighted Average Rate June 30, 2018 Financial instrument: MSRs $ 1,873 Discounted Cash Flow Discount Rate 6.50% - 9.25% 8.00% Weighted Average Prepayment Rate (Public Securities Association) 125% December 31, 2017 Financial instrument: MSRs $ 1,903 Discounted Cash Flow Discount Rate 6.50% - 9.25% 8.00% Weighted Average Prepayment Rate (Public Securities Association) 125% There were no transfers into or out of the Bank’s Level 3 financial instruments for the periods ended June 30, 2018 and December 31, 2017. Nonrecurring Fair Value Measurements Under certain circumstances, the Bank makes adjustments to fair value for assets and liabilities even though they are not measured at fair value on an ongoing basis. The following table presents the financial instruments carried on the condensed consolidated statements of condition by caption and by level in the fair value hierarchy at June 30, 2018, and December 31, 2017, for which a nonrecurring change in fair value has been recorded: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total June 30, 2018 Financial assets: Loans, net Impaired loans $ - $ - $ - $ - Other assets Other real estate owned $ - $ - $ 2,298 $ 2,298 December 31, 2017 Financial assets: Loans, net Impaired loans $ - $ - $ - $ - Other assets Other real estate owned $ - $ - $ 2,466 $ 2,466 The fair value of loans subject to write downs is estimated using the appraised value of the underlying collateral, discounted as necessary due to management’s estimates of changes in economic conditions. Additionally, the Bank also makes adjustments to nonfinancial assets and liabilities even though they are not measured at fair value on an ongoing basis. With the exception of other real estate owned, the Bank does not have nonfinancial assets or liabilities for which a nonrecurring change in fair value has been recorded during the periods ended June 30, 2018, and December 31, 2017. The following methods and assumptions were used by the Bank in estimating fair value disclosures for financial instruments: Cash and Cash Equivalents The carrying amount of cash and short-term instruments approximates fair value based on the short-term nature of the assets. Interest-Bearing Deposits in Banks Fair values for other interest-bearing deposits are estimated using discounted cash flow analyses based on current interest rates or yields for similar types of deposits. Federal Home Loan Bank Stock The Bank is a member of the Federal Home Loan Bank of Des Moines (“FHLB”). As a member, we are required to own stock of the FHLB, the amount of which is based primarily on the level of our borrowings from that institution. We also have the right to acquire additional shares of stock in the FHLB; however, to date, we have not done so. It is not practicable to determine the fair value of FHLB stock due to restrictions placed on its transferability. Investment Securities When quoted prices are available in an active market, the Bank classifies the securities within Level 1 of the valuation hierarchy. Level 1 securities include U.S. Treasury notes and bonds. If quoted market prices are not available, the Bank estimates fair values using pricing models and discounted cash flows that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, and credit spreads. Examples of such instruments, which would generally be classified within Level 2 of the valuation hierarchy, include U.S. GSE obligations, U.S. government agency pool securities, and other securities. Mortgage-backed securities are included in Level 2 if observable inputs are available. In certain cases where there is limited activity or less transparency around inputs to the valuation, the Bank would classify those securities in Level 3. At June 30, 2018, and December 31, 2017, the Bank did not have any Level 3 investment securities. Loans For variable-rate loans that re-price frequently and with no significant change in credit risk, fair values are based on carrying values. Fair values for other loans are estimated using discounted cash flow analyses, based upon interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Fair values for nonperforming loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. Loans are classified in Level 3. Mortgage Servicing Rights The fair value of MSRs is determined using models which depend on estimates of prepayment rates, discount rates and costs to service. MSRs are classified in Level 3. Deposit Liabilities The fair values disclosed for demand deposits (for example, interest and non-interest checking, passbook savings and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (that is, their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies current market interest rates on comparable instruments to a schedule of aggregated expected monthly maturities on time deposits. Deposit liabilities are classified in Level 3. Short-Term Borrowings The carrying amounts of federal funds purchased and Federal Home Loan Bank (FHLB) advances maturing within ninety days approximate their fair values. Long-Term Borrowings The fair value of FHLB advances maturing after ninety days is determined based on expected present value techniques using current market interest rates for advances with similar terms and remaining maturities. Accrued Interest The carrying amount of accrued interest approximates fair value. Off-Balance Sheet Commitments and Contingent Liabilities Management does not believe it is practicable to provide an estimate of fair value for off-balance sheet commitments or contingent liabilities because of the uncertainty involved in attempting to assess the likelihood and timing of a commitment being drawn upon, coupled with a lack of an established market for these instruments and the wide diversity of fee structures. Fair Value of Other Financial Instruments The estimated fair values of the Bank’s financial instruments, excluding those assets recorded at fair value on a recurring basis on the Bank’s condensed consolidated statements of condition, are as follows: Estimated fair value Carrying Level 1 Level 2 Level 3 June 30, 2018 (Dollars in thousands) Financial assets: Cash and cash equivalents $ 106,999 $ 106,999 $ - $ - Restricted cash 400 400 - - Federal Home Loan Bank stock 2,356 - 2,356 - Investment securities held-to-maturity 79,288 - 78,569 - Loans, net 1,235,542 - - 1,230,182 Total $ 1,424,585 $ 107,399 $ 80,925 $ 1,230,182 Financial liabilities: Deposits 1,747,119 - - 1,733,006 Total $ 1,747,119 $ - $ - $ 1,733,006 December 31, 2017 Financial assets: Cash and cash equivalents $ 126,127 $ 126,127 $ - $ - Restricted cash 400 400 - - Federal Home Loan Bank stock 2,303 - 2,303 - Investment securities held-to-maturity 89,677 - 89,999 - Loans, net 1,209,824 - - 1,202,817 Total $ 1,428,331 $ 126,527 $ 92,302 $ 1,202,817 Financial liabilities: Deposits $ 1,816,132 $ - $ - $ 1,816,773 Total $ 1,816,132 $ - $ - $ 1,816,773 |
Comprehensive Income
Comprehensive Income | 6 Months Ended |
Jun. 30, 2018 | |
Comprehensive Income Net Of Tax [Abstract] | |
Comprehensive Income | Note 11 – Comprehensive Income The components of accumulated other comprehensive income, including stockholders’ equity, are as follows: Six Months Ended June 30, 2018 2017 Net unrealized loss on available for sale securities $ (6,448 ) $ (2,601 ) Amounts reclassified from AOCI for loss on sale of investment securities available for sale included in net income 413 13 Tax effect 1,266 880 Unrealized holding loss on available for sale securities, net of tax (4,769 ) (1,708 ) Gross unrealized holding loss on held to maturity securities (1,186 ) (1,620 ) Amortization of unrealized holding loss on held to maturity during the period 276 215 Unrealized holding loss on held to maturity securities (910 ) (1,405 ) Accumulated other comprehensive income $ (5,679 ) $ (3,113 ) |
Summary of Significant Accoun18
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of income and expenses during the periods presented. Actual results could differ from those estimates. |
Restricted Cash | Restricted Cash Interest-bearing deposits in banks that mature within one year are carried at cost. $150 thousand of these deposits are held jointly under the names of Bank of Guam and the Guam Insurance Commissioner, and serve as a bond for the Bank of Guam Trust Department, and $250 thousand of these deposits are held under the Bank of Guam and are pledged for the Banker’s Loan Processing (“BLP”) program. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” In January 2016, the FASB issued ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” In March 2016, the FASB issued ASU 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230)”, In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” In March 2017, the FASB issued ASU 2017-07, “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” In May 2017, the FASB issued ASU 2017-09, “Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting” In February 2018, the FASB issued ASU 2018-02, “ Income Statement – Reporting Comprehensive Income (Topic 220) |
Recently Issued but Not Yet Adopted Accounting Pronouncements | Recently Issued but Not Yet Adopted Accounting Pronouncements In March 2017, the FASB issued ASU 2017-08, “Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities” In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326)” The Company is currently evaluating the provisions of ASU 2016-13 to determine the potential impact the new standard will have on our condensed consolidated financial statements, and has taken steps for implementation when it becomes effective beginning January 1, 2020, such as gathering pertinent data, consulting with outside professionals and evaluating its current IT systems. Management expects to recognize a one-time cumulative effect adjustment to the allowance for loan losses as of the first reporting period in which the new standard is effective, but cannot yet estimate the magnitude of the one-time adjustment or the overall impact of the new guidance on the Company’s financial position, results of operations or cash flows. |
Fair Value Measurements | The Bank uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with ASC Topic 820 “Fair Value Measurements and Disclosures” Fair Value Hierarchy In accordance with the guidance of ASC Topic 820, the Bank groups its financial assets and financial liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Level 1: Valuation is based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market, as well as certain U.S. Treasury securities that are highly liquid and are actively traded in over-the-counter markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2: Valuation is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3: Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share Pro Forma [Abstract] | |
Summary of Earnings Per Common Share | Earnings per common share are computed based on reported net income, preferred stock dividends and the following common share data: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Net income $ 3,897 $ 3,269 $ 7,525 $ 5,554 Less preferred stock dividends (136 ) (136 ) (271 ) (276 ) Net income available for common stockholders 3,761 3,133 7,254 5,278 Weighted average number of common shares outstanding 9,635 9,274 9,590 9,271 Effect of dilutive options - - - - Weighted average number of common shares outstanding - used to calculate diluted earnings per common share 9,635 9,274 9,590 9,271 Earnings per common share: - - Basic $ 0.39 $ 0.34 $ 0.76 $ 0.57 Diluted $ 0.39 $ 0.34 $ 0.76 $ 0.57 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of Amortized Cost and Fair Value of Investment Securities, with Gross Unrealized Gains and Losses | The amortized cost and fair value of investment securities, with gross unrealized gains and losses, follows: June 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities Available-for-Sale U.S. government agency and government sponsored enterprise (GSE) debt securities $ 100,454 $ - $ (2,163 ) $ 98,291 U.S. government agency pool securities 231,130 4 (1,314 ) 229,820 U.S. government agency or GSE residential mortgage-backed securities 84,646 - (2,563 ) 82,083 Total $ 416,230 $ 4 $ (6,040 ) $ 410,194 Securities Held-to-Maturity U.S. government agency and government sponsored enterprise (GSE) debt securities $ 42,812 $ 26 $ (164 ) $ 42,674 U.S. government agency pool securities 10,624 9 (18 ) 10,615 U.S. government agency or GSE residential mortgage-backed securities 25,852 33 (605 ) 25,280 Total $ 79,288 $ 68 $ (787 ) $ 78,569 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities Available-for-Sale U.S. government agency and government sponsored enterprise (GSE) debt securities $ 105,407 $ - $ (1,380 ) $ 104,027 U.S. government agency pool securities 283,611 51 (1,319 ) 282,343 U.S. government agency or GSE residential mortgage-backed securities 75,560 - (1,142 ) 74,418 Total $ 464,578 $ 51 $ (3,841 ) $ 460,788 Securities Held-to-Maturity U.S. government agency and government sponsored enterprise (GSE) debt securities $ 45,178 $ 505 $ (113 ) $ 45,570 U.S. government agency pool securities 11,756 33 (35 ) 11,754 U.S. government agency or GSE residential mortgage-backed securities 32,743 243 (311 ) 32,675 Total $ 89,677 $ 781 $ (459 ) $ 89,999 |
Summary of Proceeds and Gross Realized Gains (Losses) from Sales or Calls of Investment Securities | Proceeds and gross realized gains (losses) from the sales or calls of investment securities for the three and six months ended June 30, 2018 and 2017, are shown below: Three Months Ended June 30, 2018 2017 Proceeds from sales $ 60,460 $ - Gross realized gains from sales $ - $ - Gross realized losses from sales $ (362 ) $ - Six Months Ended June 30, 2018 2017 Proceeds from sales $ 78,775 $ 12,896 Gross realized gains from sales $ - $ 1 Gross realized losses from sales $ (413 ) $ (14 ) |
Summary of Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity | The amortized cost and estimated fair value of investment securities by contractual maturity at June 30, 2018, and December 31, 2017, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or borrowers the right to prepay obligations with or without call or prepayment penalties. At June 30, 2018, obligations of U.S. government corporations and agencies with amortized costs totaling $ 495.5 June 30, 2018 Available-for-Sale Held-to-Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due within one year $ 68 $ 68 $ 9,006 $ 8,957 Due after one but within five years 104,717 102,535 43,849 43,753 Due after five but within ten years 73,671 72,554 16,410 16,144 Due after ten years 237,774 235,037 10,023 9,715 Total $ 416,230 $ 410,194 $ 79,288 $ 78,569 December 31, 2017 Available-for-Sale Held-to-Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due within one year $ 336 $ 336 $ 7,004 $ 6,978 Due after one but within five years 111,443 110,041 53,451 54,044 Due after five but within ten years 51,861 51,450 18,336 18,262 Due after ten years 300,938 298,961 10,886 10,715 Total $ 464,578 $ 460,788 $ 89,677 $ 89,999 |
Summary of Gross Unrealized Losses and Fair Value of Investments, with Unrealized Losses of Temporarily Impaired Securities | The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2018, and December 31, 2017. June 30, 2018 Less Than Twelve Months More Than Twelve Months Total Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Securities Available for Sale U.S. government agency and government sponsored enterprise (GSE) debt securities $ (539 ) $ 29,347 $ (1,623 ) $ 68,945 $ (2,162 ) $ 98,292 U.S. government agency pool securities (174 ) 67,242 (1,141 ) 155,676 (1,315 ) 222,918 U.S. government agency or GSE residential mortgage-backed securities (1,117 ) 35,641 (1,446 ) 46,442 (2,563 ) 82,083 Total $ (1,830 ) $ 132,230 $ (4,210 ) $ 271,063 $ (6,040 ) $ 403,293 Securities Held to Maturity U.S. government agency and government sponsored enterprise (GSE) debt securities $ (80 ) $ 21,487 $ (840 ) $ 11,436 $ (920 ) $ 32,923 U.S. government agency pool securities (17 ) 1,832 (2 ) 2,082 (19 ) 3,914 U.S. government agency or GSE residential mortgage-backed securities (334 ) 14,379 (271 ) 4,235 (605 ) 18,614 Total $ (431 ) $ 37,698 $ (1,113 ) $ 17,753 $ (1,544 ) $ 55,451 December 31, 2017 Less Than Twelve Months More Than Twelve Months Total Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Securities Available for Sale U.S. government agency and government sponsored enterprise (GSE) debt securities $ (273 ) $ 29,582 $ (1,107 ) $ 74,445 $ (1,380 ) $ 104,027 U.S. government agency pool securities (241 ) 91,519 (1,078 ) 168,164 (1,319 ) 259,683 U.S. government agency or GSE residential mortgage-backed securities (321 ) 35,384 (821 ) 39,034 (1,142 ) 74,418 Total $ (835 ) $ 156,485 $ (3,006 ) $ 281,643 $ (3,841 ) $ 438,128 Securities Held to Maturity U.S. government agency and government sponsored enterprise (GSE) debt securities $ (33 ) $ 4,002 $ (80 ) $ 11,946 $ (113 ) $ 15,948 U.S. government agency pool securities (10 ) 5,422 (25 ) 3,201 (35 ) 8,623 U.S. government agency or GSE residential mortgage-backed securities (101 ) 8,478 (210 ) 5,371 (311 ) 13,849 Total $ (144 ) $ 17,902 $ (315 ) $ 20,518 $ (459 ) $ 38,420 |
Loans Held for Sale, Loans an21
Loans Held for Sale, Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Loan Portfolio | The loan portfolio consisted of the following at: June 30, 2018 December 31, 2017 Amount Percent Amount Percent Commercial Commercial & industrial $ 254,528 20.2 % $ 256,022 20.8 % Commercial mortgage 579,902 46.1 % 553,125 45.0 % Commercial construction 23,657 1.9 % 10,157 0.8 % Commercial agriculture 702 0.1 % 716 0.1 % Total commercial 858,789 68.3 % 820,020 66.7 % Consumer Residential mortgage 136,284 10.8 % 137,962 11.2 % Home equity 1,137 0.1 % 545 0.0 % Automobile 29,503 2.3 % 30,490 2.5 % Other consumer loans 1 231,517 18.4 % 240,863 19.6 % Total consumer 398,441 31.7 % 409,860 33.3 % Gross loans 1,257,230 100.0 % 1,229,880 100.0 % Deferred loan (fees) costs, net (2,882 ) (2,777 ) Allowance for loan losses (18,806 ) (17,279 ) Loans, net $ 1,235,542 $ 1,209,824 1 Comprised of other revolving credit, installment loans, and overdrafts. |
Activity of Allowance for Loan Losses | Set forth below is a summary of the Bank’s activity in the allowance for loan losses during the three and six months ended June 30, 2018 and 2017, and the year ended December 31, 2017: Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Six Months Ended June 30, 2018 Six Months Ended June 30, 2017 Year Ended December 31, 2017 Balance, beginning of period $ 18,057 $ 15,335 $ 17,279 $ 15,435 $ 15,435 Provision for loan losses 2,099 1,184 4,838 2,367 7,519 Recoveries on loans previously charged off 478 460 936 797 1,604 Charged off loans (1,828 ) (1,608 ) (4,247 ) (3,228 ) (7,279 ) Balance, end of period $ 18,806 $ 15,371 $ 18,806 $ 15,371 $ 17,279 |
Loan Balances and Related Allowance for Loan Losses, by Portfolio Type | Set forth below is information regarding loan balances and the related allowance for loan losses, by portfolio type, for the three and six months ended June 30, 2018 and 2017, and the year ended December 31, 2017, respectively. Commercial Residential Mortgages Consumer Total (Dollars in thousands) Six Months Ended June 30, 2018 Allowance for loan losses: Balance at beginning of period $ 7,623 $ 1,409 $ 8,247 $ 17,279 Charge-offs (302 ) - (3,945 ) (4,247 ) Recoveries 27 3 906 936 Provision 3,857 174 807 4,838 Balance at end of period $ 11,205 $ 1,586 $ 6,015 $ 18,806 Three Months Ended June 30, 2018 Allowance for loan losses: Balance at beginning of period 10,602 1,278 6,177 18,057 Charge-offs 11 - (1,839 ) (1,828 ) Recoveries 6 2 470 478 Provision 586 306 1,207 2,099 Ending balance $ 11,205 $ 1,586 $ 6,015 $ 18,806 Allowance balance at end of period related to: Loans individually evaluated for impairment $ 64 $ 102 $ 1,675 $ 1,841 Loans collectively evaluated for impairment 11,141 1,484 4,340 16,965 Ending balance $ 11,205 $ 1,586 $ 6,015 $ 18,806 Loan balances at end of period: Loans individually evaluated for impairment $ 8,444 $ 5,125 $ 2,066 $ 15,635 Loans collectively evaluated for impairment 850,345 132,296 258,954 1,241,595 Ending balance $ 858,789 $ 137,421 $ 261,020 $ 1,257,230 Six Months Ended June 30, 2017 Allowance for loan losses: Balance at beginning of period $ 7,264 $ 1,773 $ 6,398 $ 15,435 Charge-offs - (30 ) (3,198 ) (3,228 ) Recoveries 30 3 764 797 Provision 200 6 2,161 2,367 Ending balance $ 7,494 $ 1,752 $ 6,125 $ 15,371 Three Months Ended June 30, 2017 Allowance for loan losses: Balance at beginning of period $ 8,685 $ 1,879 $ 4,771 $ 15,335 Charge-offs - (29 ) (1,579 ) (1,608 ) Recoveries 20 1 439 460 Provision (1,211 ) (99 ) 2,494 1,184 Ending balance $ 7,494 $ 1,752 $ 6,125 $ 15,371 Allowance balance at end of period related to: Loans individually evaluated for impairment $ 3 $ 6 $ 1,062 $ 1,071 Loans collectively evaluated for impairment 7,491 1,746 5,063 14,300 Ending balance $ 7,494 $ 1,752 $ 6,125 $ 15,371 Loan balances at end of period: Loans individually evaluated for impairment $ 6,643 $ 6,269 $ 1,390 $ 14,302 Loans collectively evaluated for impairment 770,882 133,960 243,519 1,148,361 Ending balance $ 777,525 $ 140,229 $ 244,909 $ 1,162,663 Year Ended December 31, 2017 Allowance for loan losses: Balance at beginning of year $ 7,264 $ 1,773 $ 6,398 $ 15,435 Charge-offs (172 ) (145 ) (6,962 ) (7,279 ) Recoveries 47 6 1,551 1,604 Provision 484 (225 ) 7,260 7,519 Ending balance $ 7,623 $ 1,409 $ 8,247 $ 17,279 Allowance balance at end of year related to: Loans individually evaluated for impairment $ 28 $ 90 $ 1,747 $ 1,865 Loans collectively evaluated for impairment 7,595 1,319 6,500 15,414 Ending balance $ 7,623 $ 1,409 $ 8,247 $ 17,279 Loan balances at end of year: Loans individually evaluated for impairment $ 7,094 $ 5,442 $ 2,237 $ 14,773 Loans collectively evaluated for impairment 812,926 133,065 269,116 1,215,107 Ending balance $ 820,020 $ 138,507 $ 271,353 $ 1,229,880 |
Summary of Delinquency Status of Loans | The following table provides a summary of the delinquency status of the Bank’s loans by portfolio type: 30-59 Days Past Due 60-89 Days Past Due 90 Days and Greater Non-Accrual 90 Days and Greater Still Accruing Total Past Due Current Total Loans Outstanding June 30, 2018 Commercial Commercial & industrial $ 675 $ 88 $ 132 $ - $ 895 $ 253,633 $ 254,528 Commercial mortgage 2,449 141 1,587 301 4,478 575,424 579,902 Commercial construction - - - - - 23,657 23,657 Commercial agriculture - - - - - 702 702 Total commercial 3,124 229 1,719 301 5,373 853,416 858,789 Consumer Residential mortgage 4,295 3,976 1,396 31 9,698 126,586 136,284 Home equity - 94 - - 94 1,043 1,137 Automobile 1,385 310 - 112 1,807 27,696 29,503 Other consumer 1 3,025 1,620 229 1,530 6,404 225,113 231,517 Total consumer 8,705 6,000 1,625 1,673 18,003 380,438 398,441 Total $ 11,829 $ 6,229 $ 3,344 $ 1,974 $ 23,376 $ 1,233,854 $ 1,257,230 December 31, 2017 Commercial Commercial & industrial $ 155 $ 546 $ - $ 20 $ 721 $ 255,301 $ 256,022 Commercial mortgage - 803 364 - 1,167 551,958 553,125 Commercial construction - - - - - 10,157 10,157 Commercial agriculture - - - - - 716 716 Total commercial 155 1,349 364 20 1,888 818,132 820,020 Consumer Residential mortgage 5,804 3,046 2,373 - 11,223 126,739 137,962 Home equity 7 96 - - 103 442 545 Automobile 1,512 415 - 201 2,128 28,362 30,490 Other consumer 1 3,513 2,157 257 1,725 7,652 233,211 240,863 Total consumer 10,836 5,714 2,630 1,926 21,106 388,754 409,860 Total $ 10,991 $ 7,063 $ 2,994 $ 1,946 $ 22,994 $ 1,206,886 $ 1,229,880 1 Comprised of other revolving credit, installment loans, and overdrafts. |
Loans on Non-Accrual Status, by Portfolio | The following table provides information as of June 30, 2018, and December 31, 2017, with respect to loans on non-accrual status, by portfolio type: June 30, 2018 December 31, 2017 (Dollars in thousands) Non-accrual loans: Commercial Commercial & industrial $ 388 $ 426 Commercial mortgage 7,172 6,554 Commercial construction - - Commercial agriculture - - Total commercial 7,560 6,980 Consumer Residential mortgage $ 5,094 $ 6,063 Home equity - - Automobile - - Other consumer 1 424 311 Total consumer 5,518 6,374 Total non-accrual loans $ 13,078 $ 13,354 1 Comprised of other revolving credit, installment loans, and overdrafts. |
Summary of Loans by Portfolio Type and Internal Credit Quality Ratings | The Bank classifies its loan portfolios using internal credit quality ratings, as discussed above under Allowance for Loan Losses June 30, 2018 December 31, 2017 Increase (Decrease) (Dollars in thousands) Pass: Commercial & industrial $ 222,055 $ 222,662 $ (607 ) Commercial mortgage 538,224 511,702 26,522 Commercial construction 23,657 10,157 13,500 Commercial agriculture 702 716 (14 ) Residential mortgage 130,830 131,743 (913 ) Home equity 1,137 538 599 Automobile 29,391 30,289 (898 ) Other consumer 229,563 238,827 (9,264 ) Total pass loans $ 1,175,559 $ 1,146,634 $ 28,925 Special Mention: Commercial & industrial $ 2,105 $ 20,528 $ (18,423 ) Commercial mortgage 4,946 32,723 (27,777 ) Commercial construction - - - Commercial agriculture - - - Residential mortgage 1 139 (138 ) Home equity - - - Automobile - - - Other consumer - - - Total special mention loans $ 7,052 $ 53,390 $ (46,338 ) Substandard: Commercial & industrial $ 30,353 $ 12,810 $ 17,543 Commercial mortgage 36,431 8,700 27,731 Commercial construction - - - Commercial agriculture - - - Residential mortgage 726 645 81 Home equity - - - Automobile - - - Other consumer - - - Total substandard loans $ 67,510 $ 22,155 $ 45,355 Formula Classified: Commercial & industrial $ 15 $ 22 $ (7 ) Commercial mortgage 301 - 301 Commercial construction - - - Commercial agriculture - - - Residential mortgage 4,727 5,435 (708 ) Home equity - 7 (7 ) Automobile 112 201 (89 ) Other consumer 1,954 2,036 (82 ) Total formula classified loans $ 7,109 $ 7,701 $ (592 ) Doubtful: Commercial & industrial $ - $ - $ - Commercial mortgage - - - Commercial construction - - - Commercial agriculture - - - Residential mortgage - - - Home equity - - - Automobile - - - Other consumer - - - Total doubtful loans $ - $ - $ - Total outstanding loans, gross $ 1,257,230 $ 1,229,880 $ 27,350 |
Non-Accrual Loans and Restructured Loans | The following table sets forth information regarding non-accrual loans and restructured loans, at June 30, 2018, and December 31, 2017: June 30, 2018 December 31, 2017 (Dollars in thousands) Impaired loans: Restructured loans: Non-accruing restructured loans $ 5,067 $ 5,265 Accruing restructured loans 259 305 Total restructured loans 5,326 5,570 Other impaired loans 10,309 9,203 Total impaired loans $ 15,635 $ 14,773 Impaired loans less than 90 days delinquent and included in total impaired loans $ 10,316 $ 6,651 |
Information Related to Impaired Loans | The table below contains additional information with respect to impaired loans, by portfolio type, at June 30, 2018, and December 31, 2017: Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Income Recognized (Dollars in thousands) June 30, 2018, With no related allowance recorded: Commercial & industrial $ 784 $ 784 $ 637 $ 2 Commercial mortgage 6,947 6,947 6,520 - Commercial construction - - - - Commercial agriculture - - - - Residential mortgage 27 27 27 1 Home equity - - - - Automobile - - - - Other consumer - - - - Total impaired loans with no related allowance $ 7,758 $ 7,758 $ 7,184 $ 3 June 30, 2018, With a related allowance recorded: Commercial & industrial $ 187 $ 383 $ 219 $ - Commercial mortgage 526 551 473 5 Commercial construction - - - - Commercial agriculture - - - - Residential mortgage 5,097 5,148 5,153 - Home equity - - - - Automobile 65 65 92 1 Other consumer 2,002 1,751 1,999 15 Total impaired loans with a related allowance $ 7,877 $ 7,898 $ 7,936 $ 21 December 31, 2017, With no related allowance recorded: Commercial & industrial $ 515 $ 515 $ 532 $ 1 Commercial mortgage 6,192 6,192 5,767 - Commercial construction - - - - Commercial agriculture - - - - Residential mortgage - - - - Home equity - - - - Automobile - - - - Other consumer - - - - Total impaired loans with no related allowance $ 6,707 $ 6,707 $ 6,299 $ 1 December 31, 2017, With a related allowance recorded: Commercial & industrial $ 180 $ 351 $ 113 $ 1 Commercial mortgage 208 233 264 - Commercial construction - - - - Commercial agriculture - - - - Residential mortgage 5,435 5,448 5,644 - Home equity 7 7 7 - Automobile 201 211 108 3 Other consumer 2,035 2,035 1,629 17 Total impaired loans with a related allowance $ 8,066 $ 8,285 $ 7,765 $ 21 |
Troubled Debt Restructurings | Additional information regarding performing and nonperforming TDRs at June 30, 2018, and December 31, 2017, is set forth in the following table: Pre-Modification Outstanding Post-Modification Outstanding Outstanding Balance Number of Loans Recorded Investment Principal Modifications Recorded Investment June 30, 2018 December 31, 2017 Performing Residential mortgage - $ - $ - $ - $ - $ - Commercial mortgage 2 369 - 369 259 305 Automobile - - - - - - Consumer - - - - - - Total performing 2 $ 369 $ - $ 369 $ 259 $ 305 Nonperforming Residential mortgage - $ - $ - $ - $ - $ - Commercial mortgage 8 7,939 - 7,939 5,067 5,265 Automobile - - - - - - Consumer - - - - - - Total nonperforming 8 $ 7,939 $ - $ 7,939 $ 5,067 $ 5,265 Total Troubled Debt Restructurings (TDRs) 10 $ 8,308 $ - $ 8,308 $ 5,326 $ 5,570 |
Regulatory Capital Requiremen22
Regulatory Capital Requirements (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Summary of Actual Capital Amounts and Ratios | In addition, the Company’s actual capital amounts and ratios as of June 30, 2018, and December 31, 2017, are also presented in the table below. Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio At June 30, 2018: Total capital (to Risk Weighted Assets) $ 164,719 13.184 % $ 123,377 9.875 % $ 124,939 10.000 % Tier 1 capital (to Risk Weighted Assets) $ 149,062 11.931 % $ 98,389 7.875 % $ 99,951 8.000 % Tier 1 capital (to Average Assets) $ 149,062 7.641 % $ 78,032 4.000 % $ 97,540 5.000 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 139,280 11.148 % $ 79,648 6.375 % $ 81,210 6.500 % At December 31, 2017: Total capital (to Risk Weighted Assets) $ 156,300 12.834 % $ 112,648 9.250 % $ 121,781 10.000 % Tier 1 capital (to Risk Weighted Assets) $ 141,052 11.582 % $ 88,291 7.250 % $ 97,425 8.000 % Tier 1 capital (to Average Assets) $ 141,052 7.187 % $ 78,504 4.000 % $ 98,130 5.000 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 131,269 10.779 % $ 70,024 5.750 % $ 79,158 6.500 % |
Bank Of Guam | |
Summary of Actual Capital Amounts and Ratios | The Bank’s actual capital amounts and ratios as of June 30, 2018, and December 31, 2017, are also presented in the table below. Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio At June 30, 2018: Total capital (to Risk Weighted Assets) $ 160,255 12.860 % $ 123,053 9.875 % $ 124,611 10.000 % Tier 1 capital (to Risk Weighted Assets) $ 144,638 11.607 % $ 98,131 7.875 % $ 99,689 8.000 % Tier 1 capital (to Average Assets) $ 144,638 7.426 % $ 77,905 4.000 % $ 97,381 5.000 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 139,638 11.206 % $ 79,439 6.375 % $ 80,997 6.500 % At December 31, 2017: Total capital (to Risk Weighted Assets) $ 151,699 12.490 % $ 112,347 9.250 % $ 121,456 10.000 % Tier 1 capital (to Risk Weighted Assets) $ 136,521 11.240 % $ 88,056 7.250 % $ 97,165 8.000 % Tier 1 capital (to Average Assets) $ 136,521 6.968 % $ 78,373 4.000 % $ 97,967 5.000 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 131,521 10.829 % $ 69,837 5.750 % $ 78,946 6.500 % |
Off-Balance-Sheet Activities (T
Off-Balance-Sheet Activities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Summary of Financial Instruments with Off-Balance-Sheet Risk | A summary of financial instruments with off-balance-sheet risk at June 30, 2018, and December 31, 2017, is as follows: June 30, 2018 December 31, 2017 Commitments to extend credit $ 138,550 $ 159,767 Letters of credit: Standby letters of credit $ 56,755 $ 54,707 Commercial letters of credit 3,911 2,601 Total $ 60,666 $ 57,308 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis | Financial assets measured at fair value on a recurring basis as of June 30, 2018, and December 31, 2017, are as follows: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total At June 30, 2018 U.S. treasury notes and bonds $ 53,874 $ - $ - $ 53,874 U.S. government agency and sponsored enterprise (GSE) debt securities - 44,417 - 44,417 U.S. government agency pool securities - 229,820 - 229,820 U.S. government agency or GSE - 82,083 - 82,083 Other assets: MSRs - - 1,873 1,873 Total fair value $ 53,874 $ 356,320 $ 1,873 $ 412,067 At December 31, 2017 U.S. treasury notes and bonds $ 59,169 $ - $ - $ 59,169 U.S. government agency and sponsored enterprise (GSE) debt securities - 44,858 - 44,858 U.S. government agency pool securities - 282,343 - 282,343 U.S. government agency or GSE - 74,418 - 74,418 Other assets: MSRs - - 1,903 1,903 Total fair value $ 59,169 $ 401,619 $ 1,903 $ 462,691 |
Assets Measured at Fair Value on Recurring Basis | During the six months ended June 30, 2018 and 2017, the changes in Level 3 assets measured at fair value on a recurring basis are as follows: Six Months Ended June 30, 2018 2017 Beginning balance $ 1,903 $ 1,527 Realized and unrealized net gains: Included in net income (30 ) (12 ) Included in other comprehensive income - - Purchases, issuance and settlements Purchases - - Issuances - - Settlements - - Ending balance $ 1,873 $ 1,515 |
Summary of Valuation Techniques and Unobservable Inputs | The following table presents quantitative information about the valuation technique and unobservable inputs applied to Level 3 fair value measurements for financial instruments measured at fair value on a recurring basis: Estimated Fair Value Valuation Technique Unobservable Inputs Range of Inputs Weighted Average Rate June 30, 2018 Financial instrument: MSRs $ 1,873 Discounted Cash Flow Discount Rate 6.50% - 9.25% 8.00% Weighted Average Prepayment Rate (Public Securities Association) 125% December 31, 2017 Financial instrument: MSRs $ 1,903 Discounted Cash Flow Discount Rate 6.50% - 9.25% 8.00% Weighted Average Prepayment Rate (Public Securities Association) 125% |
Assets Measured at Fair Value on Nonrecurring Basis | The following table presents the financial instruments carried on the condensed consolidated statements of condition by caption and by level in the fair value hierarchy at June 30, 2018, and December 31, 2017, for which a nonrecurring change in fair value has been recorded: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total June 30, 2018 Financial assets: Loans, net Impaired loans $ - $ - $ - $ - Other assets Other real estate owned $ - $ - $ 2,298 $ 2,298 December 31, 2017 Financial assets: Loans, net Impaired loans $ - $ - $ - $ - Other assets Other real estate owned $ - $ - $ 2,466 $ 2,466 |
Fair Value of Other Financial Instruments | The estimated fair values of the Bank’s financial instruments, excluding those assets recorded at fair value on a recurring basis on the Bank’s condensed consolidated statements of condition, are as follows: Estimated fair value Carrying Level 1 Level 2 Level 3 June 30, 2018 (Dollars in thousands) Financial assets: Cash and cash equivalents $ 106,999 $ 106,999 $ - $ - Restricted cash 400 400 - - Federal Home Loan Bank stock 2,356 - 2,356 - Investment securities held-to-maturity 79,288 - 78,569 - Loans, net 1,235,542 - - 1,230,182 Total $ 1,424,585 $ 107,399 $ 80,925 $ 1,230,182 Financial liabilities: Deposits 1,747,119 - - 1,733,006 Total $ 1,747,119 $ - $ - $ 1,733,006 December 31, 2017 Financial assets: Cash and cash equivalents $ 126,127 $ 126,127 $ - $ - Restricted cash 400 400 - - Federal Home Loan Bank stock 2,303 - 2,303 - Investment securities held-to-maturity 89,677 - 89,999 - Loans, net 1,209,824 - - 1,202,817 Total $ 1,428,331 $ 126,527 $ 92,302 $ 1,202,817 Financial liabilities: Deposits $ 1,816,132 $ - $ - $ 1,816,773 Total $ 1,816,132 $ - $ - $ 1,816,773 |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Comprehensive Income Net Of Tax [Abstract] | |
Components of Accumulated Other Comprehensive Income Including Stockholder's Equity | The components of accumulated other comprehensive income, including stockholders’ equity, are as follows: Six Months Ended June 30, 2018 2017 Net unrealized loss on available for sale securities $ (6,448 ) $ (2,601 ) Amounts reclassified from AOCI for loss on sale of investment securities available for sale included in net income 413 13 Tax effect 1,266 880 Unrealized holding loss on available for sale securities, net of tax (4,769 ) (1,708 ) Gross unrealized holding loss on held to maturity securities (1,186 ) (1,620 ) Amortization of unrealized holding loss on held to maturity during the period 276 215 Unrealized holding loss on held to maturity securities (910 ) (1,405 ) Accumulated other comprehensive income $ (5,679 ) $ (3,113 ) |
Nature of Business - Additional
Nature of Business - Additional Information (Detail) - Branch | Jun. 30, 2018 | Jul. 01, 2016 |
Guam [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of branches | 11 | |
CNMI [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of branches | 4 | |
FSM [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of branches | 4 | |
RMI [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of branches | 1 | |
ROP [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of branches | 1 | |
San Francisco, California [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of branches | 1 | |
ASC Trust Corporation [Member] | ||
Segment Reporting Information [Line Items] | ||
Percentage of shares acquire | 25.00% | |
ASC Trust Corporation [Member] | Maximum [Member] | ||
Segment Reporting Information [Line Items] | ||
Percentage of shares to be acquired including initial investment | 70.00% | |
Bank Branch [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of branches | 22 |
Summary of Significant Accoun27
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Summary Of Significant Accounting Policies [Line Items] | |||
Interest-bearing Deposits in Banks and Other Financial Institutions | $ 75,477 | $ 97,094 | |
ASU 2018-02 [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Other comprehensive income to retained earnings | $ 495 | ||
Bank of Guam Trust Department Customer [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Interest-bearing Deposits in Banks and Other Financial Institutions | 150 | ||
Banker Loan Processing Program [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Interest-bearing Deposits in Banks and Other Financial Institutions | $ 250 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - shares | Jun. 30, 2018 | Jun. 30, 2017 |
Earnings Per Share [Abstract] | ||
Shares subscribed and not issued | 0 | 0 |
Earnings Per Common Share - Sum
Earnings Per Common Share - Summary of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Earnings Per Share [Abstract] | ||||
Net income | $ 3,897 | $ 3,269 | $ 7,525 | $ 5,554 |
Less preferred stock dividends | (136) | (136) | (271) | (276) |
Net income attributable to common stockholders | $ 3,761 | $ 3,133 | $ 7,254 | $ 5,278 |
Weighted average number of common shares outstanding | 9,635 | 9,274 | 9,590 | 9,271 |
Weighted average number of common shares outstanding - used to calculate diluted earnings per common share | 9,635 | 9,274 | 9,590 | 9,271 |
Earnings per common share: | ||||
Basic | $ 0.39 | $ 0.34 | $ 0.76 | $ 0.57 |
Diluted | $ 0.39 | $ 0.34 | $ 0.76 | $ 0.57 |
Investment Securities - Summary
Investment Securities - Summary of Amortized Cost and Fair Value of Investment Securities, with Gross Unrealized Gains and Losses (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule Of Available For Sale Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | $ 416,230 | $ 464,578 |
Securities Available for Sale, Gross Unrealized Gains | 4 | 51 |
Securities Available for Sale, Gross Unrealized Losses | (6,040) | (3,841) |
Securities Available for Sale, Estimated Fair Value | 410,194 | 460,788 |
Securities Held to Maturity, Amortized Cost | 79,288 | 89,677 |
Securities Held to Maturity, Gross Unrealized Gains | 68 | 781 |
Securities Held to Maturity, Gross Unrealized Losses | (787) | (459) |
Securities Held to Maturity, Estimated Fair Value | 78,569 | 89,999 |
U.S. Government Agency and Government Sponsored Enterprise (GSE) Debt Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 100,454 | 105,407 |
Securities Available for Sale, Gross Unrealized Losses | (2,163) | (1,380) |
Securities Available for Sale, Estimated Fair Value | 98,291 | 104,027 |
Securities Held to Maturity, Amortized Cost | 42,812 | 45,178 |
Securities Held to Maturity, Gross Unrealized Gains | 26 | 505 |
Securities Held to Maturity, Gross Unrealized Losses | (164) | (113) |
Securities Held to Maturity, Estimated Fair Value | 42,674 | 45,570 |
U.S. Government Agency Pool Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 231,130 | 283,611 |
Securities Available for Sale, Gross Unrealized Gains | 4 | 51 |
Securities Available for Sale, Gross Unrealized Losses | (1,314) | (1,319) |
Securities Available for Sale, Estimated Fair Value | 229,820 | 282,343 |
Securities Held to Maturity, Amortized Cost | 10,624 | 11,756 |
Securities Held to Maturity, Gross Unrealized Gains | 9 | 33 |
Securities Held to Maturity, Gross Unrealized Losses | (18) | (35) |
Securities Held to Maturity, Estimated Fair Value | 10,615 | 11,754 |
U.S. Government Agency or GSE Residential Mortgage-Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 84,646 | 75,560 |
Securities Available for Sale, Gross Unrealized Losses | (2,563) | (1,142) |
Securities Available for Sale, Estimated Fair Value | 82,083 | 74,418 |
Securities Held to Maturity, Amortized Cost | 25,852 | 32,743 |
Securities Held to Maturity, Gross Unrealized Gains | 33 | 243 |
Securities Held to Maturity, Gross Unrealized Losses | (605) | (311) |
Securities Held to Maturity, Estimated Fair Value | $ 25,280 | $ 32,675 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) $ in Thousands | 6 Months Ended | ||||
Jun. 30, 2018USD ($)Securities | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | Jul. 01, 2016 | May 31, 2016 | |
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Investment securities at carrying value, pledged | $ | $ 294,900 | $ 307,300 | |||
Available for sale debt securities | $ | $ 410,194 | $ 460,788 | |||
Investment securities in unrealized loss position were not other-than-temporarily impaired | 164 | ||||
Dividends received from unconsolidated subsidiary | $ | $ 177 | $ 115 | |||
ASC Trust Corporation [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Percentage of shares acquire | 25.00% | ||||
Percentage of first expected additional shares acquire | 20.00% | ||||
Percentage of second expected additional shares acquire | 25.00% | ||||
Dividends received from unconsolidated subsidiary | $ | 48 | ||||
Agency Securities Issued by Federal Home Loan Bank (FHLB) [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Available for sale debt securities | $ | $ 495,500 | ||||
Investment securities in unrealized loss position were not other-than-temporarily impaired | 7 | ||||
Small Business Administration (SBA) Pool Securities [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Available for sale debt securities | $ | $ 241,700 | ||||
Estimated average remaining life securities | 3 years 6 months | ||||
Investment securities in unrealized loss position were not other-than-temporarily impaired | 91 | ||||
Residential Mortgage Backed Securities [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Available for sale debt securities | $ | $ 101,900 | ||||
Estimated average remaining life securities | 3 years 10 months 24 days | ||||
Government National Mortgage Association (GNMA) [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Investment securities in unrealized loss position were not other-than-temporarily impaired | 19 | ||||
Federal National Mortgage Association (FNMA) [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Investment securities in unrealized loss position were not other-than-temporarily impaired | 24 | ||||
Mortgage-Backed Securities Issued by Federal Home Loan Corporation (FHLMC) [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Investment securities in unrealized loss position were not other-than-temporarily impaired | 4 | ||||
Step Up Bond Issued By Federal Home Loan Corporation (FHLMC) [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Investment securities in unrealized loss position were not other-than-temporarily impaired | 1 | ||||
Agency Security Issued by Federal Farm Credit Banks (FFCB) [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Investment securities in unrealized loss position were not other-than-temporarily impaired | 1 | ||||
U.S. Treasuries [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Investment securities in unrealized loss position were not other-than-temporarily impaired | 17 |
Investment Securities - Summa32
Investment Securities - Summary of Proceeds and Gross Realized Gains (Losses) from Sales or Calls of Investment Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |||
Proceeds from sales of available-for-sale securities | $ 60,460 | $ 78,775 | $ 12,896 |
Gross realized gains from sales | 1 | ||
Gross realized losses from sales | $ (362) | $ (413) | $ (14) |
Investment Securities - Summa33
Investment Securities - Summary of Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Investments Debt And Equity Securities [Abstract] | ||
Available for sale, Amortized cost, Due within one year | $ 68 | $ 336 |
Available for sale, Amortized cost, Due after one but within five years | 104,717 | 111,443 |
Available for sale, Amortized cost, Due after five but within ten years | 73,671 | 51,861 |
Available for sale, Amortized cost, Due after ten years | 237,774 | 300,938 |
Securities Available for Sale, Amortized Cost | 416,230 | 464,578 |
Available for sale, Estimated Fair Value, Due within one year | 68 | 336 |
Available for sale, Estimated Fair Value, Due after one but within five years | 102,535 | 110,041 |
Available for sale, Estimated Fair Value, Due after five but within ten years | 72,554 | 51,450 |
Available for sale, Estimated Fair Value, Due after ten years | 235,037 | 298,961 |
Securities Available for Sale, Estimated Fair Value | 410,194 | 460,788 |
Held to Maturity, Amortized Cost, Due within one year | 9,006 | 7,004 |
Held to Maturity, Amortized Cost, Due after one but within five years | 43,849 | 53,451 |
Held to Maturity, Amortized Cost, Due after five but within ten years | 16,410 | 18,336 |
Held to Maturity, Amortized Cost, Due after ten years | 10,023 | 10,886 |
Securities Held to Maturity, Amortized Cost | 79,288 | 89,677 |
Held to maturity, Estimated Fair Value, Due within one year | 8,957 | 6,978 |
Held to maturity, Estimated Fair Value, Due after one but within five years | 43,753 | 54,044 |
Held to maturity, Estimated Fair Value, Due after five but within ten years | 16,144 | 18,262 |
Held to maturity, Estimated Fair Value, Due after ten years | 9,715 | 10,715 |
Securities Held to Maturity, Estimated Fair Value | $ 78,569 | $ 89,999 |
Investment Securities - Summa34
Investment Securities - Summary of Gross Unrealized Losses and Fair Value of Investments, with Unrealized Losses of Temporarily Impaired Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule Of Available For Sale Securities [Line Items] | ||
Securities Held to Maturity, Unrealized Loss, Less Than Twelve Months | $ (431) | $ (144) |
Securities Held to Maturity, Estimated Fair Value, Less Than Twelve Months | 37,698 | 17,902 |
Securities Held to Maturity, Unrealized Loss, More Than Twelve Months | (1,113) | (315) |
Securities Held to Maturity, Estimated Fair Value, More Than Twelve Months | 17,753 | 20,518 |
Securities Held to Maturity, Unrealized Loss, Total | (1,544) | (459) |
Securities Held to Maturity, Estimated Fair Value, Total | 55,451 | 38,420 |
Securities Available for Sale, Unrealized Loss, Less Than Twelve Months | (1,830) | (835) |
Securities Available for Sale, Estimated Fair Value, Less Than Twelve Months | 132,230 | 156,485 |
Securities Available for Sale, Unrealized Loss, More Than Twelve Months | (4,210) | (3,006) |
Securities Available for Sale, Estimated Fair Value, More Than Twelve Months | 271,063 | 281,643 |
Securities Available for Sale, Unrealized Loss, Total | (6,040) | (3,841) |
Securities Available for Sale, Estimated Fair Value, Total | 403,293 | 438,128 |
U.S. Government Agency and Government Sponsored Enterprise (GSE) Debt Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Securities Held to Maturity, Unrealized Loss, Less Than Twelve Months | (80) | (33) |
Securities Held to Maturity, Estimated Fair Value, Less Than Twelve Months | 21,487 | 4,002 |
Securities Held to Maturity, Unrealized Loss, More Than Twelve Months | (840) | (80) |
Securities Held to Maturity, Estimated Fair Value, More Than Twelve Months | 11,436 | 11,946 |
Securities Held to Maturity, Unrealized Loss, Total | (920) | (113) |
Securities Held to Maturity, Estimated Fair Value, Total | 32,923 | 15,948 |
Securities Available for Sale, Unrealized Loss, Less Than Twelve Months | (539) | (273) |
Securities Available for Sale, Estimated Fair Value, Less Than Twelve Months | 29,347 | 29,582 |
Securities Available for Sale, Unrealized Loss, More Than Twelve Months | (1,623) | (1,107) |
Securities Available for Sale, Estimated Fair Value, More Than Twelve Months | 68,945 | 74,445 |
Securities Available for Sale, Unrealized Loss, Total | (2,162) | (1,380) |
Securities Available for Sale, Estimated Fair Value, Total | 98,292 | 104,027 |
U.S. Government Agency Pool Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Securities Held to Maturity, Unrealized Loss, Less Than Twelve Months | (17) | (10) |
Securities Held to Maturity, Estimated Fair Value, Less Than Twelve Months | 1,832 | 5,422 |
Securities Held to Maturity, Unrealized Loss, More Than Twelve Months | (2) | (25) |
Securities Held to Maturity, Estimated Fair Value, More Than Twelve Months | 2,082 | 3,201 |
Securities Held to Maturity, Unrealized Loss, Total | (19) | (35) |
Securities Held to Maturity, Estimated Fair Value, Total | 3,914 | 8,623 |
Securities Available for Sale, Unrealized Loss, Less Than Twelve Months | (174) | (241) |
Securities Available for Sale, Estimated Fair Value, Less Than Twelve Months | 67,242 | 91,519 |
Securities Available for Sale, Unrealized Loss, More Than Twelve Months | (1,141) | (1,078) |
Securities Available for Sale, Estimated Fair Value, More Than Twelve Months | 155,676 | 168,164 |
Securities Available for Sale, Unrealized Loss, Total | (1,315) | (1,319) |
Securities Available for Sale, Estimated Fair Value, Total | 222,918 | 259,683 |
U.S. Government Agency or GSE Residential Mortgage-Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Securities Held to Maturity, Unrealized Loss, Less Than Twelve Months | (334) | (101) |
Securities Held to Maturity, Estimated Fair Value, Less Than Twelve Months | 14,379 | 8,478 |
Securities Held to Maturity, Unrealized Loss, More Than Twelve Months | (271) | (210) |
Securities Held to Maturity, Estimated Fair Value, More Than Twelve Months | 4,235 | 5,371 |
Securities Held to Maturity, Unrealized Loss, Total | (605) | (311) |
Securities Held to Maturity, Estimated Fair Value, Total | 18,614 | 13,849 |
Securities Available for Sale, Unrealized Loss, Less Than Twelve Months | (1,117) | (321) |
Securities Available for Sale, Estimated Fair Value, Less Than Twelve Months | 35,641 | 35,384 |
Securities Available for Sale, Unrealized Loss, More Than Twelve Months | (1,446) | (821) |
Securities Available for Sale, Estimated Fair Value, More Than Twelve Months | 46,442 | 39,034 |
Securities Available for Sale, Unrealized Loss, Total | (2,563) | (1,142) |
Securities Available for Sale, Estimated Fair Value, Total | $ 82,083 | $ 74,418 |
Loans Held for Sale, Loans an35
Loans Held for Sale, Loans and Allowance for Loan Losses - Additional Information (Detail) | 6 Months Ended | |||
Jun. 30, 2018USD ($)SecurityLoan | Jun. 30, 2017USD ($)SecurityLoan | Dec. 31, 2017USD ($) | ||
Accounts Notes And Loans Receivable [Line Items] | ||||
Mortgage loans held for sale | $ 6,200,000 | $ 8,500,000 | ||
Unpaid principal balances of mortgage loans serviced | 200,200,000 | $ 206,400,000 | ||
Mortgage loan payment of principal | 6,100,000 | |||
Mortgage servicing rights at their fair value | 1,900,000 | 1,900,000 | ||
Allowance for loan losses at period end | $ 0 | |||
Accrual of interest payments on loan | 90 days | |||
Nonaccrual status, charged off on loan | 120 days | |||
All loans and credit cards delinquent | 90 days | |||
Real estate loans delinquent | 90 days | |||
Delinquent real estate loans foreclosure completion period | 90 days | |||
Period for loans delinquent under formula category | 60 days | |||
Maximum value of commercial loans considered to include in monthly formula total | $ 250,000 | |||
Gross loans, total amount | 1,257,230,000 | $ 1,162,663,000 | 1,229,880,000 | |
Increase (Decrease) in total gross loans | 27,350,000 | |||
Troubled Debt Restructurings (TDRs) | $ 5,326,000 | 5,570,000 | ||
Percentage of contractual interest rate for loan | 0.00% | |||
Number of loans modified as troubled debt restructurings | SecurityLoan | 10 | |||
Defaults troubled debt restructuring | 0 | 0 | ||
Troubled debt restructuring modification period | 12 months | |||
Troubled Debt Restructuring [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Number of loans modified as troubled debt restructurings | SecurityLoan | 0 | 0 | ||
Pass [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | $ 1,175,559,000 | 1,146,634,000 | ||
Increase (Decrease) in total gross loans | 28,925,000 | |||
Formula Classified [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 7,109,000 | 7,701,000 | ||
Increase (Decrease) in total gross loans | (592,000) | |||
Special Mention [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 7,052,000 | 53,390,000 | ||
Increase (Decrease) in total gross loans | (46,338,000) | |||
Substandard [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 67,510,000 | 22,155,000 | ||
Increase (Decrease) in total gross loans | 45,355,000 | |||
Doubtful [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 0 | 0 | ||
Automobile [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 29,503,000 | 30,490,000 | ||
Automobile [Member] | Pass [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 29,391,000 | 30,289,000 | ||
Increase (Decrease) in total gross loans | (898,000) | |||
Automobile [Member] | Formula Classified [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 112,000 | 201,000 | ||
Increase (Decrease) in total gross loans | (89,000) | |||
Home Equity [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 1,137,000 | 545,000 | ||
Home Equity [Member] | Pass [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 1,137,000 | 538,000 | ||
Increase (Decrease) in total gross loans | 599,000 | |||
Home Equity [Member] | Formula Classified [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 7,000 | |||
Increase (Decrease) in total gross loans | (7,000) | |||
Residential Mortgage [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 136,284,000 | 137,962,000 | ||
Residential Mortgage [Member] | Pass [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 130,830,000 | 131,743,000 | ||
Increase (Decrease) in total gross loans | (913,000) | |||
Residential Mortgage [Member] | Formula Classified [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 4,727,000 | 5,435,000 | ||
Increase (Decrease) in total gross loans | (708,000) | |||
Residential Mortgage [Member] | Special Mention [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 1,000 | 139,000 | ||
Increase (Decrease) in total gross loans | (138,000) | |||
Residential Mortgage [Member] | Substandard [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 726,000 | 645,000 | ||
Increase (Decrease) in total gross loans | 81,000 | |||
Commercial Construction [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 23,657,000 | 10,157,000 | ||
Commercial Construction [Member] | Pass [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 23,657,000 | 10,157,000 | ||
Increase (Decrease) in total gross loans | 13,500,000 | |||
Other Consumer [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | [1] | 231,517,000 | 240,863,000 | |
Other Consumer [Member] | Pass [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 229,563,000 | 238,827,000 | ||
Increase (Decrease) in total gross loans | (9,264,000) | |||
Other Consumer [Member] | Formula Classified [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 1,954,000 | 2,036,000 | ||
Increase (Decrease) in total gross loans | (82,000) | |||
Loans and leases receivable paid off, paid downs, charge off and loans classified | 9,300,000 | |||
Commercial & Industrial [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 254,528,000 | 256,022,000 | ||
Commercial & Industrial [Member] | Pass [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 222,055,000 | 222,662,000 | ||
Increase (Decrease) in total gross loans | (607,000) | |||
Commercial & Industrial [Member] | Formula Classified [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 15,000 | 22,000 | ||
Increase (Decrease) in total gross loans | (7,000) | |||
Commercial & Industrial [Member] | Special Mention [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 2,105,000 | 20,528,000 | ||
Increase (Decrease) in total gross loans | (18,423,000) | |||
Commercial & Industrial [Member] | Substandard [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 30,353,000 | 12,810,000 | ||
Increase (Decrease) in total gross loans | 17,543,000 | |||
Loans and leases receivable paid off, paid downs, charge off and loans classified | 16,900,000 | |||
Commercial Mortgage [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 579,902,000 | 553,125,000 | ||
Commercial Mortgage [Member] | Troubled Debt Restructuring [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Increase (Decrease) in total gross loans | (244,000) | |||
Commercial Mortgage [Member] | Pass [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 538,224,000 | 511,702,000 | ||
Increase (Decrease) in total gross loans | 26,522,000 | |||
Commercial Mortgage [Member] | Formula Classified [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 301,000 | |||
Increase (Decrease) in total gross loans | 301,000 | |||
Commercial Mortgage [Member] | Special Mention [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 4,946,000 | 32,723,000 | ||
Increase (Decrease) in total gross loans | (27,777,000) | |||
Commercial Mortgage [Member] | Substandard [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Gross loans, total amount | 36,431,000 | $ 8,700,000 | ||
Increase (Decrease) in total gross loans | $ 27,731,000 | |||
Minimum [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Percentage of Loan collateralized | 110.00% | |||
Commercial Mortgage [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Increase (Decrease) percentage of gross loan | 3.00% | |||
[1] | Comprised of other revolving credit, installment loans, and overdrafts. |
Loans Held for Sale, Loans an36
Loans Held for Sale, Loans and Allowance for Loan Losses - Loan Portfolio (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | $ 1,257,230 | $ 1,229,880 | $ 1,162,663 | ||||
Deferred loan (fees) costs, net | (2,882) | (2,777) | |||||
Allowance for loan losses | (18,806) | $ (18,057) | (17,279) | (15,371) | $ (15,335) | $ (15,435) | |
Loans, net | $ 1,235,542 | $ 1,209,824 | |||||
Commercial, Percent | 68.30% | 66.70% | |||||
Consumer, Percent | 31.70% | 33.30% | |||||
Gross loans, Total Percent | 100.00% | 100.00% | |||||
Automobile [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | $ 29,503 | $ 30,490 | |||||
Consumer, Percent | 2.30% | 2.50% | |||||
Residential Mortgage [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | $ 136,284 | $ 137,962 | |||||
Consumer, Percent | 10.80% | 11.20% | |||||
Home Equity [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | $ 1,137 | $ 545 | |||||
Consumer, Percent | 0.10% | 0.00% | |||||
Commercial & Industrial [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | $ 254,528 | $ 256,022 | |||||
Commercial, Percent | 20.20% | 20.80% | |||||
Commercial Mortgage Loans [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | $ 579,902 | $ 553,125 | |||||
Commercial, Percent | 46.10% | 45.00% | |||||
Commercial Construction [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | $ 23,657 | $ 10,157 | |||||
Commercial, Percent | 1.90% | 0.80% | |||||
Commercial Agriculture Portfolio Segment [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | $ 702 | $ 716 | |||||
Commercial, Percent | 0.10% | 0.10% | |||||
Other Consumer Loans [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | [1] | $ 231,517 | $ 240,863 | ||||
Consumer, Percent | [1] | 18.40% | 19.60% | ||||
Commercial [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | $ 858,789 | $ 820,020 | 777,525 | ||||
Allowance for loan losses | (11,205) | $ (10,602) | (7,623) | $ (7,494) | $ (8,685) | $ (7,264) | |
Consumer Loans [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Gross loans, total amount | $ 398,441 | $ 409,860 | |||||
[1] | Comprised of other revolving credit, installment loans, and overdrafts. |
Loans Held for Sale, Loans an37
Loans Held for Sale, Loans and Allowance for Loan Losses - Activity of Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Receivables [Abstract] | |||||
Balance, beginning of period | $ 18,057 | $ 15,335 | $ 17,279 | $ 15,435 | $ 15,435 |
Provision for loan losses | 2,099 | 1,184 | 4,838 | 2,367 | 7,519 |
Recoveries on loans previously charged off | 478 | 460 | 936 | 797 | 1,604 |
Charged off loans | (1,828) | (1,608) | (4,247) | (3,228) | (7,279) |
Balance, end of period | $ 18,806 | $ 15,371 | $ 18,806 | $ 15,371 | $ 17,279 |
Loans Held for Sale, Loans an38
Loans Held for Sale, Loans and Allowance for Loan Losses - Loan Balances and Related Allowance for Loan Losses, by Portfolio Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Allowance for loan losses: | |||||
Balance, beginning of period | $ 18,057 | $ 15,335 | $ 17,279 | $ 15,435 | $ 15,435 |
Charge-offs | (1,828) | (1,608) | (4,247) | (3,228) | (7,279) |
Recoveries | 478 | 460 | 936 | 797 | 1,604 |
Provision | 2,099 | 1,184 | 4,838 | 2,367 | 7,519 |
Balance, end of period | 18,806 | 15,371 | 18,806 | 15,371 | 17,279 |
Allowance balance at end of period related to: | |||||
Loans individually evaluated for impairment | 1,841 | 1,071 | 1,841 | 1,071 | 1,865 |
Loans collectively evaluated for impairment | 16,965 | 14,300 | 16,965 | 14,300 | 15,414 |
Balance, end of period | 18,806 | 15,371 | 18,806 | 15,371 | 17,279 |
Loan balances at end of period: | |||||
Loans individually evaluated for impairment | 15,635 | 14,302 | 15,635 | 14,302 | 14,773 |
Loans collectively evaluated for impairment | 1,241,595 | 1,148,361 | 1,241,595 | 1,148,361 | 1,215,107 |
Ending balance | 1,257,230 | 1,162,663 | 1,257,230 | 1,162,663 | 1,229,880 |
Commercial [Member] | |||||
Allowance for loan losses: | |||||
Balance, beginning of period | 10,602 | 8,685 | 7,623 | 7,264 | 7,264 |
Charge-offs | 11 | (302) | (172) | ||
Recoveries | 6 | 20 | 27 | 30 | 47 |
Provision | 586 | (1,211) | 3,857 | 200 | 484 |
Balance, end of period | 11,205 | 7,494 | 11,205 | 7,494 | 7,623 |
Allowance balance at end of period related to: | |||||
Loans individually evaluated for impairment | 64 | 3 | 64 | 3 | 28 |
Loans collectively evaluated for impairment | 11,141 | 7,491 | 11,141 | 7,491 | 7,595 |
Balance, end of period | 11,205 | 7,494 | 11,205 | 7,494 | 7,623 |
Loan balances at end of period: | |||||
Loans individually evaluated for impairment | 8,444 | 6,643 | 8,444 | 6,643 | 7,094 |
Loans collectively evaluated for impairment | 850,345 | 770,882 | 850,345 | 770,882 | 812,926 |
Ending balance | 858,789 | 777,525 | 858,789 | 777,525 | 820,020 |
Residential Mortgage And Home Equity [Member] | |||||
Allowance for loan losses: | |||||
Balance, beginning of period | 1,278 | 1,879 | 1,409 | 1,773 | 1,773 |
Charge-offs | (29) | (30) | (145) | ||
Recoveries | 2 | 1 | 3 | 3 | 6 |
Provision | 306 | (99) | 174 | 6 | (225) |
Balance, end of period | 1,586 | 1,752 | 1,586 | 1,752 | 1,409 |
Allowance balance at end of period related to: | |||||
Loans individually evaluated for impairment | 102 | 6 | 102 | 6 | 90 |
Loans collectively evaluated for impairment | 1,484 | 1,746 | 1,484 | 1,746 | 1,319 |
Balance, end of period | 1,586 | 1,752 | 1,586 | 1,752 | 1,409 |
Loan balances at end of period: | |||||
Loans individually evaluated for impairment | 5,125 | 6,269 | 5,125 | 6,269 | 5,442 |
Loans collectively evaluated for impairment | 132,296 | 133,960 | 132,296 | 133,960 | 133,065 |
Ending balance | 137,421 | 140,229 | 137,421 | 140,229 | 138,507 |
Consumer [Member] | |||||
Allowance for loan losses: | |||||
Balance, beginning of period | 6,177 | 4,771 | 8,247 | 6,398 | 6,398 |
Charge-offs | (1,839) | (1,579) | (3,945) | (3,198) | (6,962) |
Recoveries | 470 | 439 | 906 | 764 | 1,551 |
Provision | 1,207 | 2,494 | 807 | 2,161 | 7,260 |
Balance, end of period | 6,015 | 6,125 | 6,015 | 6,125 | 8,247 |
Allowance balance at end of period related to: | |||||
Loans individually evaluated for impairment | 1,675 | 1,062 | 1,675 | 1,062 | 1,747 |
Loans collectively evaluated for impairment | 4,340 | 5,063 | 4,340 | 5,063 | 6,500 |
Balance, end of period | 6,015 | 6,125 | 6,015 | 6,125 | 8,247 |
Loan balances at end of period: | |||||
Loans individually evaluated for impairment | 2,066 | 1,390 | 2,066 | 1,390 | 2,237 |
Loans collectively evaluated for impairment | 258,954 | 243,519 | 258,954 | 243,519 | 269,116 |
Ending balance | $ 261,020 | $ 244,909 | $ 261,020 | $ 244,909 | $ 271,353 |
Loans Held for Sale, Loans an39
Loans Held for Sale, Loans and Allowance for Loan Losses - Summary of Delinquency Status of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | |
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | $ 23,376 | $ 22,994 | ||
Current | 1,233,854 | 1,206,886 | ||
Total Loans Outstanding | 1,257,230 | 1,229,880 | $ 1,162,663 | |
Automobile [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 1,807 | 2,128 | ||
Current | 27,696 | 28,362 | ||
Total Loans Outstanding | 29,503 | 30,490 | ||
Residential Mortgage [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 9,698 | 11,223 | ||
Current | 126,586 | 126,739 | ||
Total Loans Outstanding | 136,284 | 137,962 | ||
Home Equity [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 94 | 103 | ||
Current | 1,043 | 442 | ||
Total Loans Outstanding | 1,137 | 545 | ||
Commercial & Industrial [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 895 | 721 | ||
Current | 253,633 | 255,301 | ||
Total Loans Outstanding | 254,528 | 256,022 | ||
Commercial Mortgage Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 4,478 | 1,167 | ||
Current | 575,424 | 551,958 | ||
Total Loans Outstanding | 579,902 | 553,125 | ||
Commercial Construction [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Current | 23,657 | 10,157 | ||
Total Loans Outstanding | 23,657 | 10,157 | ||
Commercial Agriculture Portfolio Segment [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Current | 702 | 716 | ||
Total Loans Outstanding | 702 | 716 | ||
Other Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | [1] | 6,404 | 7,652 | |
Current | [1] | 225,113 | 233,211 | |
Total Loans Outstanding | [1] | 231,517 | 240,863 | |
Commercial [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 5,373 | 1,888 | ||
Current | 853,416 | 818,132 | ||
Total Loans Outstanding | 858,789 | 820,020 | $ 777,525 | |
Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 18,003 | 21,106 | ||
Current | 380,438 | 388,754 | ||
Total Loans Outstanding | 398,441 | 409,860 | ||
30-59 Days Past Due [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 11,829 | 10,991 | ||
30-59 Days Past Due [Member] | Automobile [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 1,385 | 1,512 | ||
30-59 Days Past Due [Member] | Residential Mortgage [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 4,295 | 5,804 | ||
30-59 Days Past Due [Member] | Home Equity [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 7 | |||
30-59 Days Past Due [Member] | Commercial & Industrial [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 675 | 155 | ||
30-59 Days Past Due [Member] | Commercial Mortgage Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 2,449 | |||
30-59 Days Past Due [Member] | Other Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | [1] | 3,025 | 3,513 | |
30-59 Days Past Due [Member] | Commercial [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 3,124 | 155 | ||
30-59 Days Past Due [Member] | Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 8,705 | 10,836 | ||
60-89 Days Past Due [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 6,229 | 7,063 | ||
60-89 Days Past Due [Member] | Automobile [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 310 | 415 | ||
60-89 Days Past Due [Member] | Residential Mortgage [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 3,976 | 3,046 | ||
60-89 Days Past Due [Member] | Home Equity [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 94 | 96 | ||
60-89 Days Past Due [Member] | Commercial & Industrial [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 88 | 546 | ||
60-89 Days Past Due [Member] | Commercial Mortgage Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 141 | 803 | ||
60-89 Days Past Due [Member] | Other Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | [1] | 1,620 | 2,157 | |
60-89 Days Past Due [Member] | Commercial [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 229 | 1,349 | ||
60-89 Days Past Due [Member] | Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 6,000 | 5,714 | ||
90 Days and Greater Non-Accrual [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 3,344 | 2,994 | ||
90 Days and Greater Non-Accrual [Member] | Residential Mortgage [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 1,396 | 2,373 | ||
90 Days and Greater Non-Accrual [Member] | Commercial & Industrial [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 132 | |||
90 Days and Greater Non-Accrual [Member] | Commercial Mortgage Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 1,587 | 364 | ||
90 Days and Greater Non-Accrual [Member] | Other Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | [1] | 229 | 257 | |
90 Days and Greater Non-Accrual [Member] | Commercial [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 1,719 | 364 | ||
90 Days and Greater Non-Accrual [Member] | Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 1,625 | 2,630 | ||
90 Days and Greater Still Accruing [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 1,974 | 1,946 | ||
90 Days and Greater Still Accruing [Member] | Automobile [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 112 | 201 | ||
90 Days and Greater Still Accruing [Member] | Residential Mortgage [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 31 | |||
90 Days and Greater Still Accruing [Member] | Commercial & Industrial [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 20 | |||
90 Days and Greater Still Accruing [Member] | Commercial Mortgage Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 301 | |||
90 Days and Greater Still Accruing [Member] | Other Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | [1] | 1,530 | 1,725 | |
90 Days and Greater Still Accruing [Member] | Commercial [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | 301 | 20 | ||
90 Days and Greater Still Accruing [Member] | Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment Past Due [Line Items] | ||||
Total Past Due | $ 1,673 | $ 1,926 | ||
[1] | Comprised of other revolving credit, installment loans, and overdrafts. |
Loans Held for Sale, Loans an40
Loans Held for Sale, Loans and Allowance for Loan Losses - Loans on Non-Accrual Status, by Portfolio (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Non-accrual loans | $ 13,078 | $ 13,354 | |
Residential Mortgage [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Non-accrual loans | 5,094 | 6,063 | |
Commercial & Industrial [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Non-accrual loans | 388 | 426 | |
Commercial Mortgage Loans [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Non-accrual loans | 7,172 | 6,554 | |
Other Consumer Loans [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Non-accrual loans | [1] | 424 | 311 |
Commercial [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Non-accrual loans | 7,560 | 6,980 | |
Consumer Loans [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Non-accrual loans | $ 5,518 | $ 6,374 | |
[1] | Comprised of other revolving credit, installment loans, and overdrafts. |
Loans Held for Sale, Loans an41
Loans Held for Sale, Loans and Allowance for Loan Losses - Summary of Loans by Portfolio Type and Internal Credit Quality Ratings (Detail) - USD ($) | 6 Months Ended | |||
Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | ||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | $ 1,257,230,000 | $ 1,229,880,000 | $ 1,162,663,000 | |
Increase (Decrease) in total gross loans | 27,350,000 | |||
Pass [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 1,175,559,000 | 1,146,634,000 | ||
Increase (Decrease) in total gross loans | 28,925,000 | |||
Special Mention [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 7,052,000 | 53,390,000 | ||
Increase (Decrease) in total gross loans | (46,338,000) | |||
Substandard [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 67,510,000 | 22,155,000 | ||
Increase (Decrease) in total gross loans | 45,355,000 | |||
Formula Classified [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 7,109,000 | 7,701,000 | ||
Increase (Decrease) in total gross loans | (592,000) | |||
Doubtful [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 0 | 0 | ||
Automobile [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 29,503,000 | 30,490,000 | ||
Automobile [Member] | Pass [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 29,391,000 | 30,289,000 | ||
Increase (Decrease) in total gross loans | (898,000) | |||
Automobile [Member] | Formula Classified [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 112,000 | 201,000 | ||
Increase (Decrease) in total gross loans | (89,000) | |||
Residential Mortgage [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 136,284,000 | 137,962,000 | ||
Residential Mortgage [Member] | Pass [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 130,830,000 | 131,743,000 | ||
Increase (Decrease) in total gross loans | (913,000) | |||
Residential Mortgage [Member] | Special Mention [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 1,000 | 139,000 | ||
Increase (Decrease) in total gross loans | (138,000) | |||
Residential Mortgage [Member] | Substandard [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 726,000 | 645,000 | ||
Increase (Decrease) in total gross loans | 81,000 | |||
Residential Mortgage [Member] | Formula Classified [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 4,727,000 | 5,435,000 | ||
Increase (Decrease) in total gross loans | (708,000) | |||
Home Equity [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 1,137,000 | 545,000 | ||
Home Equity [Member] | Pass [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 1,137,000 | 538,000 | ||
Increase (Decrease) in total gross loans | 599,000 | |||
Home Equity [Member] | Formula Classified [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 7,000 | |||
Increase (Decrease) in total gross loans | (7,000) | |||
Commercial & Industrial [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 254,528,000 | 256,022,000 | ||
Commercial & Industrial [Member] | Pass [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 222,055,000 | 222,662,000 | ||
Increase (Decrease) in total gross loans | (607,000) | |||
Commercial & Industrial [Member] | Special Mention [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 2,105,000 | 20,528,000 | ||
Increase (Decrease) in total gross loans | (18,423,000) | |||
Commercial & Industrial [Member] | Substandard [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 30,353,000 | 12,810,000 | ||
Increase (Decrease) in total gross loans | 17,543,000 | |||
Commercial & Industrial [Member] | Formula Classified [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 15,000 | 22,000 | ||
Increase (Decrease) in total gross loans | (7,000) | |||
Commercial Mortgage Loans [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 579,902,000 | 553,125,000 | ||
Commercial Mortgage Loans [Member] | Pass [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 538,224,000 | 511,702,000 | ||
Increase (Decrease) in total gross loans | 26,522,000 | |||
Commercial Mortgage Loans [Member] | Special Mention [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 4,946,000 | 32,723,000 | ||
Increase (Decrease) in total gross loans | (27,777,000) | |||
Commercial Mortgage Loans [Member] | Substandard [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 36,431,000 | 8,700,000 | ||
Increase (Decrease) in total gross loans | 27,731,000 | |||
Commercial Mortgage Loans [Member] | Formula Classified [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 301,000 | |||
Increase (Decrease) in total gross loans | 301,000 | |||
Commercial Construction [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 23,657,000 | 10,157,000 | ||
Commercial Construction [Member] | Pass [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 23,657,000 | 10,157,000 | ||
Increase (Decrease) in total gross loans | 13,500,000 | |||
Commercial Agriculture Portfolio Segment [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 702,000 | 716,000 | ||
Commercial Agriculture Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 702,000 | 716,000 | ||
Increase (Decrease) in total gross loans | (14,000) | |||
Other Consumer Loans [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | [1] | 231,517,000 | 240,863,000 | |
Other Consumer Loans [Member] | Pass [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 229,563,000 | 238,827,000 | ||
Increase (Decrease) in total gross loans | (9,264,000) | |||
Other Consumer Loans [Member] | Formula Classified [Member] | ||||
Financing Receivable Recorded Investment [Line Items] | ||||
Gross loans, total amount | 1,954,000 | $ 2,036,000 | ||
Increase (Decrease) in total gross loans | $ (82,000) | |||
[1] | Comprised of other revolving credit, installment loans, and overdrafts. |
Loans Held for Sale, Loans an42
Loans Held for Sale, Loans and Allowance for Loan Losses - Non-Accrual Loans and Restructured Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Restructured loans: | ||
Non-accruing restructured loans | $ 5,067 | $ 5,265 |
Accruing restructured loans | 259 | 305 |
Total restructured loans | 5,326 | 5,570 |
Other impaired loans | 10,309 | 9,203 |
Total impaired loans | 15,635 | 14,773 |
Impaired loans less than 90 days delinquent and included in total impaired loans | $ 10,316 | $ 6,651 |
Loans Held for Sale, Loans an43
Loans Held for Sale, Loans and Allowance for Loan Losses - Information Related to Impaired Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Financing Receivable Impaired [Line Items] | ||
Total impaired loans with no related allowance, Recorded Investment | $ 7,758 | $ 6,707 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 7,758 | 6,707 |
Total impaired loans with no related allowance, Average Recorded Investment | 7,184 | 6,299 |
Total impaired loans with no related allowance, Interest Income Recognized | 3 | 1 |
Total impaired loans with a related allowance recorded, Recorded Investment | 7,877 | 8,066 |
Total impaired loans with a related allowance recorded, Unpaid Principal Balance | 7,898 | 8,285 |
Total impaired loans with a related allowance recorded, Average Recorded Investment | 7,936 | 7,765 |
Total impaired loans with a related allowance recorded, Interest Income Recognized | 21 | 21 |
Automobile [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total impaired loans with a related allowance recorded, Recorded Investment | 65 | 201 |
Total impaired loans with a related allowance recorded, Unpaid Principal Balance | 65 | 211 |
Total impaired loans with a related allowance recorded, Average Recorded Investment | 92 | 108 |
Total impaired loans with a related allowance recorded, Interest Income Recognized | 1 | 3 |
Residential Mortgage [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total impaired loans with no related allowance, Recorded Investment | 27 | |
Total impaired loans with no related allowance, Unpaid Principal Balance | 27 | |
Total impaired loans with no related allowance, Average Recorded Investment | 27 | |
Total impaired loans with no related allowance, Interest Income Recognized | 1 | |
Total impaired loans with a related allowance recorded, Recorded Investment | 5,097 | 5,435 |
Total impaired loans with a related allowance recorded, Unpaid Principal Balance | 5,148 | 5,448 |
Total impaired loans with a related allowance recorded, Average Recorded Investment | 5,153 | 5,644 |
Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total impaired loans with a related allowance recorded, Recorded Investment | 7 | |
Total impaired loans with a related allowance recorded, Unpaid Principal Balance | 7 | |
Total impaired loans with a related allowance recorded, Average Recorded Investment | 7 | |
Commercial & Industrial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total impaired loans with no related allowance, Recorded Investment | 784 | 515 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 784 | 515 |
Total impaired loans with no related allowance, Average Recorded Investment | 637 | 532 |
Total impaired loans with no related allowance, Interest Income Recognized | 2 | 1 |
Total impaired loans with a related allowance recorded, Recorded Investment | 187 | 180 |
Total impaired loans with a related allowance recorded, Unpaid Principal Balance | 383 | 351 |
Total impaired loans with a related allowance recorded, Average Recorded Investment | 219 | 113 |
Total impaired loans with a related allowance recorded, Interest Income Recognized | 1 | |
Commercial Mortgage [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total impaired loans with no related allowance, Recorded Investment | 6,947 | 6,192 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 6,947 | 6,192 |
Total impaired loans with no related allowance, Average Recorded Investment | 6,520 | 5,767 |
Total impaired loans with a related allowance recorded, Recorded Investment | 526 | 208 |
Total impaired loans with a related allowance recorded, Unpaid Principal Balance | 551 | 233 |
Total impaired loans with a related allowance recorded, Average Recorded Investment | 473 | 264 |
Total impaired loans with a related allowance recorded, Interest Income Recognized | 5 | |
Other Consumer [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total impaired loans with a related allowance recorded, Recorded Investment | 2,002 | 2,035 |
Total impaired loans with a related allowance recorded, Unpaid Principal Balance | 1,751 | 2,035 |
Total impaired loans with a related allowance recorded, Average Recorded Investment | 1,999 | 1,629 |
Total impaired loans with a related allowance recorded, Interest Income Recognized | $ 15 | $ 17 |
Loans Held for Sale, Loans an44
Loans Held for Sale, Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Detail) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018USD ($)SecurityLoan | Dec. 31, 2017USD ($) | |
Financing Receivable Modifications [Line Items] | ||
Number of Loans | SecurityLoan | 10 | |
Pre-Modification Outstanding Recorded Investment | $ 8,308 | |
Post-Modification Outstanding Recorded Investment | 8,308 | |
Outstanding Balance | $ 5,326 | $ 5,570 |
Performing [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | SecurityLoan | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 369 | |
Post-Modification Outstanding Recorded Investment | 369 | |
Outstanding Balance | $ 259 | 305 |
Performing [Member] | Commercial Mortgage [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | SecurityLoan | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 369 | |
Post-Modification Outstanding Recorded Investment | 369 | |
Outstanding Balance | $ 259 | 305 |
Nonperforming [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | SecurityLoan | 8 | |
Pre-Modification Outstanding Recorded Investment | $ 7,939 | |
Post-Modification Outstanding Recorded Investment | 7,939 | |
Outstanding Balance | $ 5,067 | 5,265 |
Nonperforming [Member] | Commercial Mortgage [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | SecurityLoan | 8 | |
Pre-Modification Outstanding Recorded Investment | $ 7,939 | |
Post-Modification Outstanding Recorded Investment | 7,939 | |
Outstanding Balance | $ 5,067 | $ 5,265 |
Regulatory Capital Requiremen45
Regulatory Capital Requirements - Additional Information (Detail) - USD ($) $ / shares in Thousands | Sep. 15, 2016 | Jun. 30, 2018 | Dec. 31, 2017 |
Compliance With Regulatory Capital Requirements For Mortgage Companies [Line Items] | |||
Capital requirement tier 1 capital (to risk weighted assets) | 7.875% | 7.25% | |
Preferred stock, shares outstanding | 9,800 | 9,800 | |
Non-Voting Series A Non-Cumulative Perpetual Preferred Stock [Member] | |||
Compliance With Regulatory Capital Requirements For Mortgage Companies [Line Items] | |||
Preferred stock, shares outstanding | 9,783,000 | ||
Private Placement [Member] | Non-Voting Series A Non-Cumulative Perpetual Preferred Stock [Member] | |||
Compliance With Regulatory Capital Requirements For Mortgage Companies [Line Items] | |||
Preferred stock yield percentage | 5.50% | ||
Fixed to floating rate conversion date | Jun. 30, 2021 | ||
Preferred stock, liquidation preference per share | $ 1 | ||
Private Placement [Member] | Non-Voting Series A Non-Cumulative Perpetual Preferred Stock [Member] | Three-month LIBOR [Member] | |||
Compliance With Regulatory Capital Requirements For Mortgage Companies [Line Items] | |||
Preferred stock yield percentage spread on variable rate basis | 4.825% | ||
Two Thousand Eleven Plan [Member] | |||
Compliance With Regulatory Capital Requirements For Mortgage Companies [Line Items] | |||
Employees right to purchase stock to maximum amount | $ 25,000 | ||
Employees right to purchase stock to maximum extent | 1,500 | ||
Share purchase price percentage of fair market value | 85.00% | ||
Basel III [Member] | |||
Compliance With Regulatory Capital Requirements For Mortgage Companies [Line Items] | |||
Common equity tier 1 capital (to risk weighted assets), minimum | 4.50% | ||
Non risk based leverage ratio, minimum | 4.00% | ||
Non risk based leverage ratio for higher rated bank, minimum | 3.00% | ||
Capital conservation buffer | 2.50% | ||
Capital conservation buffer phase in amount | 1.875% | 1.25% | |
Basel III [Member] | Maximum [Member] | |||
Compliance With Regulatory Capital Requirements For Mortgage Companies [Line Items] | |||
Capital requirement tier 1 capital (to risk weighted assets) | 6.00% | ||
Permitted composition for tier one capital consolidated assets value | $ 250,000,000,000 | ||
Permitted composition for tier one capital foreign exposures | $ 10,000,000,000 | ||
Basel III [Member] | Minimum [Member] | |||
Compliance With Regulatory Capital Requirements For Mortgage Companies [Line Items] | |||
Number of days assigned for non accrual Status for higher risk weighting to exposure | 90 days |
Regulatory Capital Requiremen46
Regulatory Capital Requirements - Summary of Bank's Actual Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Compliance With Regulatory Capital Requirements For Mortgage Companies [Line Items] | ||
Total capital (to Risk Weighted Assets), Actual, Amount | $ 164,719 | $ 156,300 |
Tier 1 capital (to Risk Weighted Assets), Actual, Amount | 149,062 | 141,052 |
Tier 1 capital (to Average Assets), Actual, Amount | 149,062 | 141,052 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual, Amount | $ 139,280 | $ 131,269 |
Total capital (to Risk Weighted Assets), Actual, Ratio | 13.184% | 12.834% |
Tier 1 capital (to Risk Weighted Assets), Actual, Ratio | 11.931% | 11.582% |
Tier 1 capital (to Average Assets), Actual, Ratio | 7.641% | 7.187% |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual, Ratio | 11.148% | 10.779% |
Total capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount | $ 123,377 | $ 112,648 |
Tier 1 capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount | 98,389 | 88,291 |
Tier 1 capital (to Average Assets), For Capital Adequacy Purposes, Amount | 78,032 | 78,504 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount | $ 79,648 | $ 70,024 |
Total capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio | 9.875% | 9.25% |
Tier 1 capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio | 7.875% | 7.25% |
Tier 1 capital (to Average Assets), For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio | 6.375% | 5.75% |
Total capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 124,939 | $ 121,781 |
Tier 1 capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 99,951 | 97,425 |
Tier 1 capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 97,540 | 98,130 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 81,210 | $ 79,158 |
Total capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Tier 1 capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | 6.50% |
Bank [Member] | ||
Compliance With Regulatory Capital Requirements For Mortgage Companies [Line Items] | ||
Total capital (to Risk Weighted Assets), Actual, Amount | $ 160,255 | $ 151,699 |
Tier 1 capital (to Risk Weighted Assets), Actual, Amount | 144,638 | 136,521 |
Tier 1 capital (to Average Assets), Actual, Amount | 144,638 | 136,521 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual, Amount | $ 139,638 | $ 131,521 |
Total capital (to Risk Weighted Assets), Actual, Ratio | 12.86% | 12.49% |
Tier 1 capital (to Risk Weighted Assets), Actual, Ratio | 11.607% | 11.24% |
Tier 1 capital (to Average Assets), Actual, Ratio | 7.426% | 6.968% |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual, Ratio | 11.206% | 10.829% |
Total capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount | $ 123,053 | $ 112,347 |
Tier 1 capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount | 98,131 | 88,056 |
Tier 1 capital (to Average Assets), For Capital Adequacy Purposes, Amount | 77,905 | 78,373 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount | $ 79,439 | $ 69,837 |
Total capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio | 9.875% | 9.25% |
Tier 1 capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio | 7.875% | 7.25% |
Tier 1 capital (to Average Assets), For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio | 6.375% | 5.75% |
Total capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 124,611 | $ 121,456 |
Tier 1 capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 99,689 | 97,165 |
Tier 1 capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 97,381 | 97,967 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 80,997 | $ 78,946 |
Total capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Tier 1 capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | 6.50% |
Regulatory Capital Requiremen47
Regulatory Capital Requirements - Summary of Company's Actual Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Banking And Thrift [Abstract] | ||
Total capital (to Risk Weighted Assets), Actual, Amount | $ 164,719 | $ 156,300 |
Tier 1 capital (to Risk Weighted Assets), Actual, Amount | 149,062 | 141,052 |
Tier 1 capital (to Average Assets), Actual, Amount | 149,062 | 141,052 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual, Amount | $ 139,280 | $ 131,269 |
Total capital (to Risk Weighted Assets), Actual, Ratio | 13.184% | 12.834% |
Tier 1 capital (to Risk Weighted Assets), Actual, Ratio | 11.931% | 11.582% |
Tier 1 capital (to Average Assets), Actual, Ratio | 7.641% | 7.187% |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual, Ratio | 11.148% | 10.779% |
Total capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount | $ 123,377 | $ 112,648 |
Tier 1 capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount | 98,389 | 88,291 |
Tier 1 capital (to Average Assets), For Capital Adequacy Purposes, Amount | 78,032 | 78,504 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount | $ 79,648 | $ 70,024 |
Total capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio | 9.875% | 9.25% |
Tier 1 capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio | 7.875% | 7.25% |
Tier 1 capital (to Average Assets), For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio | 6.375% | 5.75% |
Total capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 124,939 | $ 121,781 |
Tier 1 capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 99,951 | 97,425 |
Tier 1 capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 97,540 | 98,130 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 81,210 | $ 79,158 |
Total capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Tier 1 capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | 6.50% |
Off-Balance-Sheet Activities -
Off-Balance-Sheet Activities - Summary of Financial Instruments with Off-Balance-Sheet Risk (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Commitments to Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial Instrument with off-balance-sheet risk | $ 138,550 | $ 159,767 |
Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial Instrument with off-balance-sheet risk | 60,666 | 57,308 |
Letters of Credit [Member] | Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial Instrument with off-balance-sheet risk | 56,755 | 54,707 |
Letters of Credit [Member] | Commercial Letters Of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial Instrument with off-balance-sheet risk | $ 3,911 | $ 2,601 |
Off-Balance-Sheet Activities 49
Off-Balance-Sheet Activities - Additional Information (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Loss Contingencies [Line Items] | |
Liabilities associated with guarantees | $ 27 |
Letters of credit expiration date maximum | 1 year |
Maximum undiscounted future payments | $ 60,700 |
Guarantee maturity maximum | 1 year |
Collateral Securities Based on Credit Evaluation of Customer [Member] | |
Loss Contingencies [Line Items] | |
Liabilities associated with guarantees | $ 27 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Income Tax Disclosure [Abstract] | ||
Valuation allowance | $ 2 | $ 2 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | $ 410,194 | $ 460,788 |
U.S. Government Agency Pool Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 229,820 | 282,343 |
U.S. Government Agency or GSE [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 82,083 | 74,418 |
Fair Value on Recurring Basis [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 412,067 | 462,691 |
Fair Value on Recurring Basis [Member] | U.S. Treasury Notes and Bonds [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 53,874 | 59,169 |
Fair Value on Recurring Basis [Member] | U.S. Government Agency and Sponsored Enterprise (GSE) Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 44,417 | 44,858 |
Fair Value on Recurring Basis [Member] | U.S. Government Agency Pool Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 229,820 | 282,343 |
Fair Value on Recurring Basis [Member] | U.S. Government Agency or GSE [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 82,083 | 74,418 |
Fair Value on Recurring Basis [Member] | MSRs [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 1,873 | 1,903 |
Fair Value on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 53,874 | 59,169 |
Fair Value on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasury Notes and Bonds [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 53,874 | 59,169 |
Fair Value on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 356,320 | 401,619 |
Fair Value on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agency and Sponsored Enterprise (GSE) Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 44,417 | 44,858 |
Fair Value on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agency Pool Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 229,820 | 282,343 |
Fair Value on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agency or GSE [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 82,083 | 74,418 |
Fair Value on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | 1,873 | 1,903 |
Fair Value on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | MSRs [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale, at fair value | $ 1,873 | $ 1,903 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Transfers in or out of the Bank's Level 3 financial instruments | $ 0 | $ 0 |
Nonfinancial assets or liabilities for which a nonrecurring change in fair value | $ 0 | 0 |
Number of days to maturity federal funds purchased and FHLB advances to be treated as short-term borrowings | 90 days | |
Minimum [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair value of FHLB advances maturing after ninety days | 90 days | |
Fair Value on Recurring Basis [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Liabilities measured at fair value on a recurring basis | $ 0 | $ 0 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation Calculation Roll Forward | ||
Beginning balance | $ 1,903 | $ 1,527 |
Realized and unrealized net gains: | ||
Included in net income | (30) | (12) |
Purchases, issuance and settlements | ||
Ending balance | $ 1,873 | $ 1,515 |
Fair Value Measurements - Sum54
Fair Value Measurements - Summary of Valuation Techniques and Unobservable Inputs (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Financial instrument fair value, measurement with unobservable inputs reconciliation, recurring basis | $ 1,873 | $ 1,903 | $ 1,515 | $ 1,527 |
Significant Unobservable Inputs (Level 3) [Member] | MSRs [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Financial instrument fair value, measurement with unobservable inputs reconciliation, recurring basis | $ 1,873 | $ 1,903 | ||
Alternative Investment, Valuation Technique [Extensible List] | us-gaap:ValuationTechniqueDiscountedCashFlowMember | us-gaap:ValuationTechniqueDiscountedCashFlowMember | ||
Unobservable Inputs | Discount Rate | Discount Rate | ||
Significant Unobservable Inputs (Level 3) [Member] | MSRs [Member] | Discount Rate [Member] | Minimum [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Unobservable inputs, Discount rate/weighted average prepayment rate (Public Securities Association) | 6.50 | 6.50 | ||
Significant Unobservable Inputs (Level 3) [Member] | MSRs [Member] | Discount Rate [Member] | Maximum [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Unobservable inputs, Discount rate/weighted average prepayment rate (Public Securities Association) | 9.25 | 9.25 | ||
Significant Unobservable Inputs (Level 3) [Member] | MSRs [Member] | Measurement Input Price Volatility [Member] | Weighted Average [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Weighted Average Rate | 8 | 8 | ||
Significant Unobservable Inputs (Level 3) [Member] | MSRs [Member] | Discounted Cash Flow Valuation Technique [Member] | Weighted Average Prepayment Rate [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Unobservable inputs, Discount rate/weighted average prepayment rate (Public Securities Association) | 125 | 125 |
Fair Value Measurements - Ass55
Fair Value Measurements - Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value on Nonrecurring Basis [Member] | Other Real Estate Owned [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets | $ 2,298 | $ 2,466 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets | 107,399 | 126,527 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets | 80,925 | 92,302 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets | 1,230,182 | 1,202,817 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value on Nonrecurring Basis [Member] | Other Real Estate Owned [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets | $ 2,298 | $ 2,466 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value of Other Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financial assets: | ||
Cash and cash equivalents, Carrying Amount | $ 106,999 | $ 126,127 |
Restricted cash, Carrying Amount | 400 | 400 |
Federal Home Loan Bank stock, Carrying Amount | 2,356 | 2,303 |
Investment securities held to maturity, Carrying Amount | 79,288 | 89,677 |
Loans, Carrying Amount | 1,235,542 | 1,209,824 |
Total financial assets, Carrying Amount | 1,424,585 | 1,428,331 |
Investment securities held-to-maturity, Estimated fair value | 78,569 | 89,999 |
Financial liabilities: | ||
Deposits, Carrying Amount | 1,747,119 | 1,816,132 |
Total financial liabilities, Carrying Amount | 1,747,119 | 1,816,132 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial assets: | ||
Cash and cash equivalents, Estimated fair value | 106,999 | 126,127 |
Restricted cash, Estimated fair value | 400 | 400 |
Total financial assets, Estimated fair value | 107,399 | 126,527 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial assets: | ||
Federal Home Loan Bank stock, Estimated fair value | 2,356 | 2,303 |
Investment securities held-to-maturity, Estimated fair value | 78,569 | 89,999 |
Total financial assets, Estimated fair value | 80,925 | 92,302 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial assets: | ||
Loans, Estimated fair value | 1,230,182 | 1,202,817 |
Total financial assets, Estimated fair value | 1,230,182 | 1,202,817 |
Financial liabilities: | ||
Deposits, Estimated fair value | 1,733,006 | 1,816,773 |
Total financial liabilities, Estimated fair value | $ 1,733,006 | $ 1,816,773 |
Comprehensive Income - Componen
Comprehensive Income - Components of Accumulated Other Comprehensive Income Including Stockholder's Equity (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Comprehensive Income Net Of Tax [Abstract] | ||||
Net unrealized loss on available for sale securities | $ (6,448) | $ (2,601) | ||
Amounts reclassified from AOCI for loss on sale of investment securities available for sale included in net income | $ 362 | 413 | 13 | |
Tax effect | 1,266 | 880 | ||
Unrealized holding loss on available for sale securities, net of tax | (4,769) | (1,708) | ||
Gross unrealized holding loss on held to maturity securities | (1,186) | (1,620) | ||
Amortization of unrealized holding loss on held to maturity during the period | 276 | 215 | ||
Unrealized holding loss on held to maturity securities | (910) | (1,405) | ||
Accumulated other comprehensive loss | $ (5,679) | $ (5,679) | $ (3,113) | $ (3,687) |