Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 08, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | PMHG | ||
Entity Registrant Name | Prime Meridian Holding Co | ||
Entity Central Index Key | 1,586,454 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 2,006,180 | ||
Entity Public Float | $ 18,752,766 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 4,817 | $ 3,528 |
Federal funds sold | 25,963 | 4,657 |
Interest-bearing deposits | 5,385 | 244 |
Total cash and cash equivalents | 36,165 | 8,429 |
Securities available for sale | 33,103 | 38,063 |
Loans held for sale | 3,291 | 2,722 |
Loans, net of allowance for loan losses of $2,876 and $2,473 | 222,768 | 187,076 |
Federal Home Loan Bank stock | 220 | 189 |
Premises and equipment, net | 4,929 | 4,222 |
Deferred tax asset | 533 | 368 |
Accrued interest receivable | 798 | 692 |
Bank-owned life insurance | 1,711 | 1,662 |
Other assets | 423 | 621 |
Total assets | 303,941 | 244,044 |
Liabilities: | ||
Noninterest-bearing demand deposits | 61,856 | 50,158 |
Savings, NOW and money-market deposits | 192,768 | 144,801 |
Time deposits | 20,723 | 22,614 |
Total deposits | 275,347 | 217,573 |
Official checks | 632 | 744 |
Other liabilities | 880 | 794 |
Total liabilities | 276,859 | 219,111 |
Commitments and contingencies (Notes 4, 8 and 15) | ||
Stockholders' equity: | ||
Preferred stock, undesignated; 1,000,000 shares authorized, none issued or outstanding | 0 | 0 |
Common stock, $.01 par value; 9,000,000 shares authorized, 2,004,707 and 1,975,329 issued and outstanding | 20 | 20 |
Additional paid-in capital | 20,732 | 20,415 |
Retained earnings | 6,563 | 4,442 |
Accumulated other comprehensive (loss) income | (233) | 56 |
Total stockholders' equity | 27,082 | 24,933 |
Total liabilities and stockholders' equity | $ 303,941 | $ 244,044 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance for loan losses | $ 2,876 | $ 2,473 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 9,000,000 | 9,000,000 |
Common stock, shares issued | 2,004,707 | 1,975,329 |
Common stock, shares outstanding | 2,004,707 | 1,975,329 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Interest income: | ||
Loans | $ 9,956 | $ 8,359 |
Securities | 700 | 883 |
Other | 117 | 47 |
Total interest income | 10,773 | 9,289 |
Interest expense: | ||
Deposits | 829 | 697 |
Other borrowings | 1 | 20 |
Total interest expense | 830 | 717 |
Net interest income | 9,943 | 8,572 |
Provision for loan losses | 424 | 433 |
Net interest income after provision for loan losses | 9,519 | 8,139 |
Noninterest income: | ||
Service charges and fees on deposit accounts | 250 | 152 |
Mortgage banking revenue | 935 | 546 |
Income from bank-owned life insurance | 49 | 49 |
Gain on sale of securities available for sale | 102 | 95 |
Other income | 294 | 228 |
Total noninterest income | 1,630 | 1,070 |
Noninterest expenses: | ||
Salaries and employee benefits | 4,131 | 3,523 |
Occupancy and equipment | 907 | 799 |
Professional fees | 346 | 375 |
Advertising | 487 | 425 |
FDIC/State Assessment | 152 | 114 |
Software maintenance, amortization and other | 501 | 413 |
Other | 1,188 | 1,012 |
Total noninterest expenses | 7,712 | 6,661 |
Earnings before income taxes | 3,437 | 2,548 |
Income taxes | 1,217 | 844 |
Net earnings | $ 2,220 | $ 1,704 |
Basic earnings per share | $ 1.12 | $ 0.88 |
Diluted earnings per share | $ 1.11 | $ 0.87 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | ||
Net earnings | $ 2,220 | $ 1,704 |
Change in unrealized gain on securities: | ||
Unrealized (loss) gain arising during the year | (358) | 98 |
Reclassification adjustment for realized gains | (102) | (95) |
Net change in unrealized gain | (460) | 3 |
Deferred income taxes on above change | 171 | (1) |
Total other comprehensive (loss) income | (289) | 2 |
Comprehensive income | $ 1,931 | $ 1,706 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning Balance, Value at Dec. 31, 2014 | $ 22,867 | $ 19 | $ 20,056 | $ 2,738 | $ 54 |
Beginning Balance, Shares at Dec. 31, 2014 | 1,941,617 | ||||
Net earnings | 1,704 | $ 0 | 0 | 1,704 | 0 |
Net change in unrealized gain on available for sale securities, net of income taxes | 2 | 0 | 0 | 0 | 2 |
Proceeds from stock options exercised, Value | $ 306 | $ 1 | 305 | 0 | 0 |
Proceeds from stock options exercised, Shares | 30,540 | 30,540 | |||
Common stock issued as compensation to directors , Value | $ 39 | $ 0 | 39 | 0 | 0 |
Common stock issued as compensation to directors , Shares | 3,172 | ||||
Stock-based compensation | 15 | $ 0 | 15 | 0 | 0 |
Ending Balance, Value at Dec. 31, 2015 | $ 24,933 | $ 20 | 20,415 | 4,442 | 56 |
Ending Balance, Shares at Dec. 31, 2015 | 1,975,329 | 1,975,329 | |||
Net earnings | $ 2,220 | $ 0 | 0 | 2,220 | 0 |
Dividends paid | (99) | 0 | 0 | (99) | 0 |
Net change in unrealized gain on available for sale securities, net of income taxes | (289) | 0 | 0 | 0 | (289) |
Proceeds from stock options exercised, Value | $ 261 | $ 0 | 261 | 0 | 0 |
Proceeds from stock options exercised, Shares | 25,450 | 25,450 | |||
Common stock issued as compensation to directors , Value | $ 55 | $ 0 | 55 | 0 | 0 |
Common stock issued as compensation to directors , Shares | 3,928 | ||||
Stock-based compensation | 1 | $ 0 | 1 | 0 | 0 |
Ending Balance, Value at Dec. 31, 2016 | $ 27,082 | $ 20 | $ 20,732 | $ 6,563 | $ (233) |
Ending Balance, Shares at Dec. 31, 2016 | 2,004,707 | 2,004,707 |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Income tax portion of change in unrealized gain on available for sale securities | $ 171 | $ 1 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Income tax portion of change in unrealized gain on available for sale securities | $ 171 | $ 1 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | ||
Net earnings | $ 2,220 | $ 1,704 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Depreciation and amortization | 528 | 446 |
Provision for loan losses | 424 | 433 |
Net amortization of deferred loan fees | (64) | (346) |
Deferred income taxes | 6 | (7) |
Gain on sale of securities available for sale | (102) | (95) |
Amortization of premiums, discounts on securities available for sale | 430 | 425 |
Gain on sale of loans held for sale | (813) | (488) |
Proceeds from the sale of loans held for sale | 49,739 | 30,319 |
Loan originated as held for sale | (49,495) | (30,682) |
Stock issued as compensation to directors | 55 | 39 |
Stock-based compensation expense | 1 | 15 |
Income from bank-owned life insurance | (49) | (49) |
Net (increase) decrease in accrued interest receivable | (106) | (68) |
Net decrease (increase) in other assets | 198 | (303) |
Net (decrease) increase in other liabilities and official checks | (26) | 717 |
Net cash provided by operating activities | 2,946 | 2,060 |
Cash flows from investing activities: | ||
Loan originations, net of principal repayments | (36,052) | (35,294) |
Purchase of securities available for sale | (13,425) | (12,978) |
Principal repayments of securities available for sale | 7,892 | 10,252 |
Proceeds from the sales of securities available for sale | 8,248 | 4,691 |
Maturities and calls of securities available for sale | 1,457 | 2,042 |
Purchase of Federal Home Loan Bank stock | (31) | (3) |
Purchase of premises and equipment | (1,235) | (1,105) |
Net cash used in investing activities | (33,146) | (32,395) |
Cash flows from financing activities: | ||
Net increase in deposits | 57,774 | 33,602 |
Decrease in other borrowings | 0 | (2,699) |
Proceeds from stock options exercised | 261 | 306 |
Cash dividends paid | (99) | 0 |
Net cash provided by financing activities | 57,936 | 31,209 |
Net increase (decrease) in cash | 27,736 | 874 |
Cash and cash equivalents at beginning of year | 8,429 | 7,555 |
Cash and cash equivalents at end of year | 36,165 | 8,429 |
Supplemental disclosure of cash flow information Cash paid during the year for: | ||
Interest | 830 | 713 |
Income taxes | 1,030 | 989 |
Noncash transaction- | ||
Accumulated other comprehensive (loss) income, net change in unrealized gain on sale of securities available for sale, net of taxes | $ (289) | $ 2 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | (1) Summary of Significant Accounting Policies Organization. The following is a description of the significant accounting policies and practices followed by the Company, which conform to accounting principles generally accepted in the United States of America (“GAAP”) and prevailing practices within the banking industry. Use of Estimates. Principles of Consolidation. Cash and Cash Equivalents. At December 31, 2016 and 2015, the Company was required by law or regulation to maintain cash reserves with the Federal Reserve Bank, in noninterest-bearing accounts with other banks or in the vault in the amounts of $1,799,000 and $1,114,000 respectively. Securities. held-to-maturity available-for-sale. Held-to-maturity Available-for-sale held-to-maturity available-for-sale available-for-sale specific-identification Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Loans Held for Sale. Loans. pay-off charge-offs, Commitment and loan origination fees are deferred and certain direct origination costs are capitalized. Both are recognized as an adjustment of the yield of the related loan. The accrual of interest on all portfolio classes is discontinued at the time the loan is ninety-days delinquent unless the loan is well collateralized and in process of collection. In all cases, loans are placed on nonaccrual or charged-off charged-off Allowance for Loan Losses. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are considered impaired. For such loans, an allowance is established when the discounted cash flows or collateral value of the impaired loan is lower than the carrying value of that loan. The general component covers all other loans and is based on the following factors: The historical loss component of the allowance is determined by losses recognized by portfolio segment over the preceding thirty-six Allowance for Loan Losses, Continued. case-by-case Premises and Equipment. Transfer of Financial Assets. Off-Balance-Sheet off-balance-sheet Income Taxes. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term “more likely than not” means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not more-likely-than-not The Company recognizes interest and penalties on income taxes as a component of income tax expense. The Company files consolidated income tax returns. Income taxes are allocated to the Holding Company and Bank as if separate income tax returns were filed. Fair Value Measurements. Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. Level 3: Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. The following describes valuation methodologies used for assets measured at fair value: Securities Available for Sale. Impaired Loans. Fair Values of Financial Instruments. Cash and Cash Equivalents. Securities. Loans Held for Sale. Loans. one-to-four Federal Home Loan Bank Stock. Accrued Interest Receivable. Bank-owned Life Insurance. Deposits. Off-Balance-Sheet off-balance-sheet Advertising. Stock-Based Compensation. Comprehensive Income. available-for-sale Mortgage Banking Revenue. Recent Accounting Standards Update. No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): available-for-sale In February 2016, the FASB issued ASU No. 2016-2, Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718) In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) available-for-sale |
Securities Available for Sale
Securities Available for Sale | 12 Months Ended |
Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available for Sale | (2) Securities Available for Sale Securities have been classified according to management’s intention. The carrying amount of securities and their fair values are summarized as follows (in thousands): Amortized Gross Gross Fair At December 31, 2016: U.S. Government agency securities $ 2,186 2 (17 ) 2,171 Municipal securities 12,614 91 (282 ) 12,423 Mortgage-backed securities 18,673 36 (200 ) 18,509 $ 33,473 129 (499 ) 33,103 At December 31, 2015: U.S. Government agency securities 8,376 61 (9 ) 8,428 Municipal securities 9,532 130 (54 ) 9,608 Mortgage-backed securities 20,065 52 (90 ) 20,027 $ 37,973 243 (153 ) 38,063 Securities available for sale measured at fair value on a recurring basis are summarized below (in thousands): Fair Value Measurements Using Fair Value Quoted In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) At December 31, 2016: U.S. Government agency securities $ 2,171 0 2,171 0 Municipal securities 12,423 0 12,423 0 Mortgage-backed securities 18,509 0 18,509 0 $ 33,103 0 33,103 0 At December 31, 2015: U.S. Government agency securities 8,428 0 8,428 0 Municipal securities 9,608 0 9,608 0 Mortgage-backed securities 20,027 0 20,027 0 $ 38,063 0 38,063 0 During the years ended December 31, 2016 and 2015, no securities were transferred in or out of Level 1, Level 2 or Level 3. The scheduled maturities of securities are as follows (in thousands): Amortized Fair At December 31, 2016: Due in one to five years $ 3,150 3,124 Due five to ten years 7,904 7,900 Due after ten years 3,746 3,570 Mortgage-backed securities 18,673 18,509 $ 33,473 33,103 The following summarizes sales of securities available for sale (in thousands): Year Ended 2016 2015 Proceeds received from sales $ 8,248 4,691 Gross gains 102 96 Gross losses 0 (1 ) Net gain from sale of securities $ 102 95 At December 31, 2016 and 2015, securities with a fair value of $9,279,000 and $9,601,000, respectively, were pledged as collateral for public deposits and for other borrowings with clients. Securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands): Less Than Twelve Months More Than Twelve Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value At December 31, 2016: U.S. Government agency securities $ (17 ) 1,529 0 0 Municipal securities (282 ) 6,111 0 0 Mortgage-backed securities (191 ) 12,709 (9 ) 501 $ (490 ) 20,349 (9 ) 501 At December 31, 2015: U.S. Government agency securities (9 ) 1,616 0 0 Municipal securities (14 ) 1,620 (40 ) 1,224 Mortgage-backed securities (40 ) 10,803 (50 ) 2,018 $ (63 ) 14,039 (90 ) 3,242 The unrealized losses on twenty-four securities at December 31, 2016, and twenty-two |
Loans
Loans | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Loans | (3) Loans The segments and classes of loans are as follows (in thousands): At December 31, 2016 2015 Real estate mortgage loans: Commercial $ 65,805 57,847 Residential and home equity 88,883 69,817 Construction 19,991 17,493 Total real estate mortgage loans 174,679 145,157 Commercial loans 46,340 40,229 Consumer and other loans 4,275 3,877 Total loans 225,294 189,263 Add (Less): Net deferred loan costs 350 286 Allowance for loan losses (2,876 ) (2,473 ) Loans, net $ 222,768 187,076 The Company has divided the loan portfolio into three portfolio segments and five portfolio classes, each with different risk characteristics and methodologies for assessing risk. All loans are underwritten based upon standards set forth in the policies approved by the Company’s Board of Directors. The portfolio segments and classes are identified by the Company as follows: Real Estate Mortgage Loans. Commercial. mixed-use Residential and Home Equity. one-to-four 1-year, 3-year, 5-year, 7-year 15-year 30-year Construction. Commercial Loans. Small-to-medium Consumer and Other Loans. An analysis of the change in the allowance for loan losses follows (in thousands): Real Estate Mortgage Loans Commercial Residential Home Construction Commercial Consumer Other Total Year Ended December 31, 2016: Beginning balance $ 707 868 246 596 56 2,473 Provision for loan losses 68 206 12 135 3 424 Net (charge-offs) recoveries 0 0 0 (17 ) (4 ) (21 ) Ending balance $ 775 1,074 258 714 55 2,876 At December 31, 2016: Individually evaluated for impairment: Recorded investment $ 0 662 73 76 0 811 Balance in allowance for loan losses $ 0 0 0 76 0 76 Collectively evaluated for impairment: Recorded investment $ 65,805 88,221 19,918 46,264 4,275 224,483 Balance in allowance for loan losses $ 775 1,074 258 638 55 2,800 Year Ended December 31, 2015: Beginning balance 641 594 263 562 38 2,098 Provision for loan losses 66 274 (17 ) 86 24 433 Net (charge-offs) recoveries 0 0 0 (52 ) (6 ) (58 ) Ending balance $ 707 868 246 596 56 2,473 At December 31, 2015: Individually evaluated for impairment: Recorded investment $ 0 0 0 137 7 144 Balance in allowance for loan losses $ 0 0 0 62 7 69 Collectively evaluated for impairment: Recorded investment $ 57,847 69,817 17,493 40,092 3,870 189,119 Balance in allowance for loan losses $ 707 868 246 534 49 2,404 The following summarizes the loan credit quality (in thousands): Real Estate Mortgage Loans Commercial Residential Home Construction Commercial Consumer Other Total At December 31, 2016: Grade: Pass $ 61,734 84,695 19,485 45,623 4,227 215,764 Special mention 4,071 3,152 333 250 46 7,852 Substandard 0 1,036 173 467 2 1,678 Doubtful 0 0 0 0 0 0 Loss 0 0 0 0 0 0 Total $ 65,805 88,883 19,991 46,340 4,275 225,294 At December 31, 2015: Grade: Pass 52,097 65,367 17,204 39,607 3,836 178,111 Special mention 5,750 3,396 163 461 32 9,802 Substandard 0 1,054 126 161 9 1,350 Doubtful 0 0 0 0 0 0 Loss 0 0 0 0 0 0 Total $ 57,847 69,817 17,493 40,229 3,877 189,263 The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. Loans classified as substandard or special mention are reviewed quarterly by the Company for further deterioration or improvement to determine if they are appropriately classified and whether there is any impairment. All loans are graded upon initial issuance. Further, construction and nonowner-occupied commercial real estate loans and commercial relationships in excess of $500,000 are reviewed at least annually. The Company determines the appropriate loan grade during the renewal process and reevaluates the loan grade in situations when a loan becomes past due. Loans excluded from the review process above are generally classified as pass credits until: (a) they become past due; (b) management becomes aware of deterioration in the credit worthiness of the borrower; or (c) the client contacts the Company for a modification. In these circumstances, the loan is specifically evaluated for potential classification as to special mention, substandard or even charged-off. Pass Special Mention Substandard Doubtful Loss At December 31, 2016, there was one loan over thirty days past due, no loans past due ninety days or more but still accruing and four loans on nonaccrual. Age analysis of past-due Accruing Loans 30-59 60-89 Greater Total Current Nonaccrual Total At December 31, 2016: Real estate mortgage: Commercial $ 0 0 0 0 65,805 0 65,805 Residential and home equity 371 0 0 371 87,850 662 88,883 Construction 0 0 0 0 19,918 73 19,991 Commercial 0 0 0 0 46,264 76 46,340 Consumer/other 0 0 0 0 4,275 0 4,275 Total $ 371 0 0 371 224,112 811 225,294 At December 31, 2015: Real estate mortgage: Commercial 0 0 0 0 57,847 0 57,847 Residential and home equity 0 0 0 0 69,817 0 69,817 Construction 0 0 0 0 17,493 0 17,493 Commercial 0 0 0 0 40,092 137 40,229 Consumer/other 0 0 0 0 3,877 0 3,877 Total $ 0 0 0 0 189,126 137 189,263 The following summarizes the amount of impaired loans (in thousands): With No Related Allowance Recorded With an Allowance Recorded Total Recorded Unpaid Recorded Unpaid Related Recorded Unpaid Related Allowance At December 31, 2016: Residential & Home Equity $ 662 662 0 0 0 662 662 0 Construction 73 73 0 0 0 73 73 0 Commercial 0 0 76 76 76 76 76 76 Total $ 735 735 76 76 76 811 811 76 At December 31, 2015: Commercial loans 0 0 137 137 62 137 137 62 Consumer 0 0 7 7 7 7 7 7 Total $ 0 0 144 144 69 144 144 69 The average net investment in impaired loans and interest income recognized and received on impaired loans by loan class is as follows (in thousands): Average Interest Interest Year Ended December 31, 2016: Residential & Home Equity $ 354 0 14 Construction 19 0 0 Commercial 107 7 6 Total $ 480 7 20 Year Ended December 31, 2015: Commercial 270 12 12 Consumer 7 1 1 Total $ 277 13 13 There were no collateral dependent impaired loans measured at fair value on a nonrecurring basis at December 31, 2016 or 2015. The Company did not enter into any new troubled debt restructured loans in the years ended December 31, 2016 or 2015. The Company grants the majority of its loans to borrowers throughout Leon County, Florida. Although the Company has a diversified loan portfolio, a significant portion of its borrowers’ ability to honor their contracts is dependent upon the economy of this area. The Company does not have any significant concentrations to any one industry or client. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | (4) Premises and Equipment A summary of premises and equipment follows (in thousands): At December 31, 2016 2015 Land $ 690 690 Building 2,461 2,449 Leasehold improvements 411 377 Furniture, fixtures and equipment 993 930 Computer and software 1,943 1,723 Construction in progress 1,181 275 Total, at cost 7,679 6,444 Less accumulated depreciation and amortization (2,750 ) (2,222 ) Premises and equipment, net $ 4,929 4,222 Construction in progress relates to the construction of the Company’s branch office in Crawfordville, FL, which was substantially complete at December 31, 2016. The Company leases an office facility under an operating lease which expires in 2017, but has two 5-year Year Ending December 31, Amount 2017 $ 155 2018 86 2019 86 2020 86 2021 86 Thereafter 482 $ 981 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Deposits | (5) Deposits The aggregate amount of time deposits with a minimum denomination of $100,000 was approximately $16.4 million and $18.1 million at December 31, 2016 and 2015, respectively. A schedule of maturities of time deposits at December 31, 2016 follows (in thousands): Year Ending December 31, Amount 2017 $ 15,216 2018 4,540 2019 588 2020 379 $ 20,723 |
Other Borrowings
Other Borrowings | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Other Borrowings | (6) Other Borrowings In 2015, the Company was a participant in a repurchase agreement with a client that required the Company to pledge securities as collateral for borrowings under this agreement. This agreement was terminated in June, 2015. A summary of other borrowings in 2015 follows ($ in thousands): 2015 Balance outstanding at year-end 0 Average balance outstanding during the year $ 1,223 Average interest rate paid 1.0 % Maximum amount outstanding at any month-end $ 2,661 Pledged securities at year-end 0 The Company has pledged collateral to the Federal Home Loan Bank of Atlanta (“FHLB”) for future advances which will be collateralized by a blanket lien on qualifying residential real estate, commercial real estate, home equity lines of credit and multi-family loans. The Company may borrow up to $35.2 million as of December 31, 2016 from the FHLB. There were no advances outstanding at December 31, 2016 or 2015. The Company also has available credit of $16.3 million in lines of credit with correspondent banks. All draws under these lines are subject to approval by the correspondent bank. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | (7) Income Taxes The components of the income taxes are as follows (in thousands): Year Ended 2016 2015 Current: Federal $ 1,031 828 State 180 23 Total current 1,211 851 Deferred: Federal 1 (25 ) State 5 18 Total deferred 6 (7 ) Total income taxes $ 1,217 844 The reasons for the difference between the statutory Federal income tax rate of 34% and the effective tax rates are summarized as follows (dollars in thousands): Year Ended December 31, 2016 2015 Amount % of Amount % of Income taxes at statutory rate $ 1,169 34.0 % $ 866 34.0 % Increase (decrease) resulting from: State taxes, net of Federal tax benefit 122 3.5 27 1.1 Tax-exempt (82 ) (2.4 ) (43 ) (1.7 ) Other nondeductible expenses 8 0.3 (6 ) (0.3 ) $ 1,217 35.4 % $ 844 33.1 % Tax effects of temporary differences that give rise to the deferred tax assets and liabilities are as follows (in thousands): At December 31, 2016 2015 Deferred tax assets: Allowance for loan losses $ 1,008 848 Organizational and start-up 87 101 Stock-based compensation 18 18 Unrealized losses on securities available for sale 137 0 Other 16 9 Deferred tax assets 1,266 976 Deferred tax liabilities: Accrual to cash conversion (69 ) (89 ) Deferred loan costs (392 ) (293 ) Premises and equipment (272 ) (192 ) Unrealized gains on securities available for sale 0 (34 ) Deferred tax liabilities (733 ) (608 ) Net deferred tax asset $ 533 368 The Company files consolidated income tax returns in the U.S. federal jurisdiction and the State of Florida. The Company is no longer subject to U.S. federal, or state and local income tax examinations by taxing authorities for years before 2013. |
Off-Balance-Sheet Financial Ins
Off-Balance-Sheet Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Off-Balance-Sheet Financial Instruments | (8) Off-Balance-Sheet The Company is a party to financial instruments with off-balance-sheet The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for available lines of credit, construction loans in process and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for on-balance-sheet Commitments to extend credit, construction loans in process and unused lines of credit are agreements to lend to a client 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. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each client’s credit worthiness on a case-by-case Guaranteed accounts are irrevocable standby letters of credit issued by us to guarantee a client’s credit line with our third-party credit card company, First Arkansas Bank & Trust. As a part of this agreement, we are responsible for the established credit limit on certain accounts plus 10%. The maximum potential amount of future payments we could be required to make is represented by the dollar amount disclosed in the table below. Standby letters of credit and commitments to extend credit typically result in loans with a market interest rate when funded. In 2016, the Company entered into an agreement with another bank. This agreement references an interest rate swap that was transacted between the other bank and its loan client (the “Counterparty”). Should the Counterparty default on its obligations under the interest rate swap agreement with the other bank, then the Company would be liable for 13.208% of all swap liabilities. The maximum potential credit exposure under this contract at December 31, 2016 is $86,000. A summary of the contractual amounts of the Company’s financial instruments with off-balance-sheet Commitments to extend credit $ 0 Construction loans in process $ 7,426 Unused lines of credit $ 31,276 Standby financial letters of credit $ 1,702 Standby performance letters of credit $ 183 Guaranteed Accounts $ 694 |
Stock Compensation Plans
Stock Compensation Plans | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Compensation Plans | (9) Stock Compensation Plans The 2015 Stock Incentive Compensation Plan (the “2015 Plan”) was approved by Shareholders at the Company’s annual meeting of shareholders on May 20, 2015, and permits the Company to grants its key employees and directors stock options, stock appreciation rights, performance shares, and phantom stock. Under the 2015 Plan, the amount of shares which may be issued is 500,000, but in no instance more than 15% of the issued and outstanding shares of the Company’s common stock. As of December 31, 2016, no stock options, stock appreciation rights, performance shares, or phantom stock shares had been issued under the 2015 Plan. As of May 20, 2015, no further grants will be made under the 2007 Stock Option Plan (the “2007 Plan”). Unexercised stock options that were granted under the 2007 Plan will remain outstanding and will expire under the terms of the individual stock grant. A summary of the activity in the Company’s 2007 Stock Option Plan is as follows: Number of Options Weighted- Weighted- Aggregate Outstanding at December 31, 2014 108,400 10.01 Options granted 15,000 12.50 Options exercised (30,540 ) 10.00 Options forfeited (17,360 ) $ 11.44 Outstanding at December 31, 2015 75,500 $ 10.19 Options exercised (25,450 ) 10.29 Options forfeited (7,850 ) 10.00 Outstanding at December 31, 2016 42,200 $ 10.16 2.4 years Exercisable at December 31, 2016 41,000 10.15 2.3 years $ 174,000 At December 31, 2016, there was $1,000 of total unrecognized compensation expense related to nonvested share based compensation arrangements granted under the plan. The cost is expected to be recognized over a weighted-average period of twelve months. The total fair value of shares vesting and recognized as compensation expense was $1,000 and $15,000 in the years ended December 31, 2016 and 2015, respectively. The associated income tax benefit recognized was $0 and $5,000 for the years ended December 31, 2016 and 2015, respectively. The fair value of each option granted during the year ended December 31, 2015 was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Year Ended December 31, 2015 Weighted average risk-free interest rate 0.89 % Expected dividend yield — Expected stock volatility 8.13 % Expected life in years 3.0 Per share fair value of options issued during the year $ 0.87 The Company used the guidance in Staff Accounting Bulletin No. 107 to determine the estimated life of options issued. Expected volatility is based on volatility of similar companies’ common stock. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The dividend yield is based on the Company’s history and expectation of dividend payouts. In 2012, the Company’s Board of Directors and shareholders adopted the Directors’ Plan. The Directors’ Plan permits the Company’s and the Bank’s directors to elect to receive any compensation to be paid to them in shares of the Company’s common stock. Pursuant to the Directors’ Plan, each director is permitted to make an election to receive shares of stock instead of cash. To encourage directors to elect to receive stock, the Directors’ Plan provides that if a director elects to receive stock, he or she will receive in common stock 110% of the amount of cash fees set by the Board or the Compensation and Nominating Committee. The value of stock to be awarded pursuant to the Directors’ Plan will be the closing price of a share of common stock as traded on the Over-the |
Profit Sharing Plan
Profit Sharing Plan | 12 Months Ended |
Dec. 31, 2016 | |
Postemployment Benefits [Abstract] | |
Profit Sharing Plan | (10) Profit Sharing Plan The Company sponsors a 401(k)-profit sharing plan available to all employees electing to participate after meeting certain length-of-service |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | (11) Related Party Transactions The Company enters into transactions during the ordinary course of business with officers and directors of the Company and entities in which they hold a significant financial interest. The following table summarizes these transactions (in thousands): Year Ended December 31, 2016 2015 Loans: Beginning balance $ 6,082 6,107 Originated during the year 1,216 283 Principal repayments (1,356 ) (308 ) Ending balance $ 5,942 6,082 Deposits at year end $ 13,947 17,956 From the Bank’s formation until February, 2016, the Company leased an office facility from a related party. In February, 2016, the building was purchased by a non-related In 2015, the Bank purchased three acres of land in Wakulla County, Florida from a related party for $290,000 for the purpose of building a branch office. The Bank also contracted with a related party to perform loan reviews of the Bank’s loan portfolio in 2014 and a payment of $20,000 was made in 2015 for these services. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | (12) Fair Value of Financial Instruments The approximate carrying amounts and estimated fair values of the Company’s financial instruments are as follows (in thousands): At December 31, 2016 2015 Level Carrying Fair Carrying Fair Financial assets: Cash and cash equivalents 1 $ 36,165 36,165 8,429 8,429 Securities available for sale 2 33,103 33,103 38,063 38,063 Loans held for sale 3 3,291 3,500 2,722 2,791 Loans, net 3 222,768 221,320 187,076 188,784 Federal Home Loan Bank stock 3 220 220 189 189 Accrued interest receivable 3 798 798 692 692 Bank-owned life insurance 3 1,711 1,711 1,662 1,662 Financial liabilities- Deposits 3 275,347 275,433 217,573 217,652 Off-balance-sheet 3 0 0 0 0 |
Dividend Restrictions
Dividend Restrictions | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Dividend Restrictions | (13) Dividend Restrictions The Holding Company is limited in the amount of cash dividends it may declare and pay by the amount of dividends it can receive from the Bank. The Bank is limited in the amount of cash dividends that may be paid. The amount of cash dividends that may be paid is based on the Bank’s net earnings of the current year combined with the Bank’s retained earnings of the preceding two years, as defined by state banking regulations. However, for any dividend declaration, the Bank must consider additional factors such as the amount of current period net earnings, liquidity, asset quality, capital adequacy and economic conditions. It is likely that these factors would further limit the amount of dividends which the Bank could declare. In addition, bank regulators have the authority to prohibit banks from paying dividends if they deem such payment to be an unsafe or unsound practice. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | (14) Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s 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 the Bank’s assets, liabilities, and certain off-balance Effective January 1, 2015, the Bank, became subject to the new Basel III capital level threshold requirements under the Prompt Corrective Action regulations with full compliance with all of the final rule’s requirements phased in over a multi-year schedule. These new regulations were designed to ensure that banks maintain strong capital positions even in the event of severe economic downturns or unforeseen losses. Changes that could affect the Bank going forward include additional constraints on the inclusion of deferred tax assets in capital and increased risk weightings for nonperforming loans and acquisition/development loans in regulatory capital. Under the new regulations in the first quarter of 2015, the Bank elected an irreversible one-time opt-out Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and percentage (set forth in the table below) 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). Management believes, as of December 31, 2016, that the Bank meets all capital adequacy requirements to which it is subject. As of December 31, 2016, the Bank is well capitalized under the regulatory framework for prompt corrective action. To be categorized as adequately capitalized, the Bank must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage percentages as set forth in the table. There are no conditions or events since that notification that management believes have changed the Bank’s category. The Bank’s actual capital amounts and percentages are also presented in the table (dollars in thousands): For Capital For Well Actual Adequacy Purposes Capitalized Purposes Amount Percentage Amount Percentage Amount Percentage As of December 31, 2016 Tier 1 Leverage Capital $ 25,994 8.73 % $ 11,906 4.00 % $ 14,883 5.00 % Common Equity Tier 1 Risk-Based Capital 25,994 11.70 9,995 4.50 14,437 6.50 Tier 1 Risk-Based Capital 25,994 11.70 13,326 6.00 17,769 8.00 Total Risk-Based Capital 28,772 12.95 17,769 8.00 22,211 10.00 As of December 31, 2015 Tier 1 Leverage Capital $ 23,511 9.48 % $ 9,918 4.00 % $ 12,398 5.00 % Common Equity Tier 1 Risk-Based Capital 23,511 12.79 8,269 4.50 11,945 6.50 Tier1Risk-Based Capital 23,511 12.79 11,026 6.00 14,701 8.00 Total Risk-Based Capital 25,810 14.05 14,701 8.00 18,377 10.00 |
Legal Contingencies
Legal Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Legal Contingencies | (15) Legal Contingencies Various legal claims arise from time to time in the normal course of business which, in the opinion of management, will not have a material effect on the Company’s financial statements. As of December 31, 2016, there is no pending or threatened litigation of which management is aware. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | (16) Earnings Per Share Earnings per share has been computed on the basis of the weighted-average number of shares of common stock outstanding. Outstanding stock options are considered dilutive securities for purposes of calculating diluted EPS which was computed using the treasury stock method. (dollars in thousands, except per share amounts): 2016 2015 Earnings Weighted- Per Earnings Weighted- Per Year Ended December 31: Basic EPS: Net earnings $ 2,220 1,982,334 $ 1.12 $ 1,704 1,945,980 $ 0.88 Effect of dilutive securities- Incremental shares from assumed conversion of options 8,827 9,593 Diluted EPS: Net earnings $ 2,220 1,991,161 $ 1.11 $ 1,704 1,955,573 $ 0.87 |
Reclassification
Reclassification | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Reclassification | (17) Reclassification Certain noninterest expenses were reclassified from occupancy and equipment to software maintenance, amortization and other for the year ended December 31, 2015 to conform to 2016 presentation. The reclassification of expenses had no effect on net earnings. |
Parent Company Only Financial I
Parent Company Only Financial Information | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Parent Company Only Financial Information | (18) Parent Company Only Financial Information The Holding Company’s unconsolidated financial information follows: Condensed Balance Sheets (In thousands) At December 31 2016 2015 Assets Cash $ 1,301 1,139 Investment in subsidiary 25,761 23,567 Other assets 20 227 Total assets $ 27,082 24,933 Stockholders’ Equity Stockholders’ equity 27,082 24,933 Total stockholders’ equity $ 27,082 24,933 Condensed Statements of Earnings (In thousands) Year Ended 2016 2015 Revenues $ 0 0 Expenses (421 ) (322 ) Income tax benefit 159 119 Loss before earnings of subsidiary (262 ) (203 ) Net earnings of subsidiary 2,482 1,907 Net earnings $ 2,220 1,704 Condensed Statements of Cash Flows (In thousands) Year Ended 2016 2015 Cash flows from operating activities: Net earnings $ 2,220 1,704 Adjustments to reconcile net earnings to net cash used in operating activities: Equity in earnings of subsidiary (2,482 ) (1,907 ) Stock issued as compensation 55 39 Decrease (increase) in other assets 207 (135 ) Net cash used in operating activities 0 (299 ) Cash flow from financing activity- Proceeds from stock options exercised 261 306 Cash flow from investment activities: Cash Dividend paid (99 ) 0 Capital infusion in subsidiary 0 (2,000 ) Net cash used in investing activities (99 ) (2,000 ) Net increase (decrease) in cash 162 (1,993 ) Cash at beginning of the year 1,139 3,132 Cash at end of year $ 1,301 1,139 Supplemental disclosure of cash flow information- Noncash items: Net change in accumulated other comprehensive (loss) income of subsidiary, net change in unrealized gain on securities available for sale, net of tax $ (289 ) 2 Stock-based compensation expense of subsidiary $ 1 15 |
Summary of Significant Accoun27
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Organization | Organization. The following is a description of the significant accounting policies and practices followed by the Company, which conform to accounting principles generally accepted in the United States of America (“GAAP”) and prevailing practices within the banking industry. |
Use of Estimates | Use of Estimates. |
Principles of Consolidation | Principles of Consolidation. |
Cash and Cash Equivalents | Cash and Cash Equivalents. At December 31, 2016 and 2015, the Company was required by law or regulation to maintain cash reserves with the Federal Reserve Bank, in noninterest-bearing accounts with other banks or in the vault in the amounts of $1,799,000 and $1,114,000 respectively. |
Securities | Securities. held-to-maturity available-for-sale. Held-to-maturity Available-for-sale held-to-maturity available-for-sale available-for-sale specific-identification Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. |
Loans Held for Sale | Loans Held for Sale. |
Loans | Loans. pay-off charge-offs, Commitment and loan origination fees are deferred and certain direct origination costs are capitalized. Both are recognized as an adjustment of the yield of the related loan. The accrual of interest on all portfolio classes is discontinued at the time the loan is ninety-days delinquent unless the loan is well collateralized and in process of collection. In all cases, loans are placed on nonaccrual or charged-off charged-off |
Allowance for Loan Losses | Allowance for Loan Losses. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are considered impaired. For such loans, an allowance is established when the discounted cash flows or collateral value of the impaired loan is lower than the carrying value of that loan. The general component covers all other loans and is based on the following factors: The historical loss component of the allowance is determined by losses recognized by portfolio segment over the preceding thirty-six Allowance for Loan Losses, Continued. case-by-case |
Premises and Equipment | Premises and Equipment. |
Transfer of Financial Assets | Transfer of Financial Assets. |
Off-Balance-Sheet Financial Instruments. | Off-Balance-Sheet off-balance-sheet |
Income Taxes | Income Taxes. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term “more likely than not” means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not more-likely-than-not The Company recognizes interest and penalties on income taxes as a component of income tax expense. The Company files consolidated income tax returns. Income taxes are allocated to the Holding Company and Bank as if separate income tax returns were filed. |
Fair Value Measurements | Fair Value Measurements. Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. Level 3: Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. The following describes valuation methodologies used for assets measured at fair value: |
Securities Available for Sale | Securities Available for Sale. |
Impaired Loans | Impaired Loans. |
Fair Values of Financial Instruments | Fair Values of Financial Instruments. Cash and Cash Equivalents. Securities. Loans Held for Sale. Loans. one-to-four Federal Home Loan Bank Stock. Accrued Interest Receivable. Bank-owned Life Insurance. Deposits. Off-Balance-Sheet off-balance-sheet |
Advertising | Advertising. |
Stock Option Compensation | Stock-Based Compensation. |
Comprehensive Income | Comprehensive Income. available-for-sale |
Mortgage Banking Revenue | Mortgage Banking Revenue. |
Recent Accounting Standards Update | Recent Accounting Standards Update. No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): available-for-sale In February 2016, the FASB issued ASU No. 2016-2, Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718) In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) available-for-sale |
Securities Available for Sale (
Securities Available for Sale (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Carrying Amount and Fair Values of Securities | Securities have been classified according to management’s intention. The carrying amount of securities and their fair values are summarized as follows (in thousands): Amortized Gross Gross Fair At December 31, 2016: U.S. Government agency securities $ 2,186 2 (17 ) 2,171 Municipal securities 12,614 91 (282 ) 12,423 Mortgage-backed securities 18,673 36 (200 ) 18,509 $ 33,473 129 (499 ) 33,103 At December 31, 2015: U.S. Government agency securities 8,376 61 (9 ) 8,428 Municipal securities 9,532 130 (54 ) 9,608 Mortgage-backed securities 20,065 52 (90 ) 20,027 $ 37,973 243 (153 ) 38,063 |
Securities Available for Sale Measured at Fair Value on Recurring Basis | Securities available for sale measured at fair value on a recurring basis are summarized below (in thousands): Fair Value Measurements Using Fair Value Quoted In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) At December 31, 2016: U.S. Government agency securities $ 2,171 0 2,171 0 Municipal securities 12,423 0 12,423 0 Mortgage-backed securities 18,509 0 18,509 0 $ 33,103 0 33,103 0 At December 31, 2015: U.S. Government agency securities 8,428 0 8,428 0 Municipal securities 9,608 0 9,608 0 Mortgage-backed securities 20,027 0 20,027 0 $ 38,063 0 38,063 0 |
Scheduled Maturities of Securities with Fair Value and Amortized Cost | The scheduled maturities of securities are as follows (in thousands): Amortized Fair At December 31, 2016: Due in one to five years $ 3,150 3,124 Due five to ten years 7,904 7,900 Due after ten years 3,746 3,570 Mortgage-backed securities 18,673 18,509 $ 33,473 33,103 |
Summary of Sales of Securities Available for Sale | The following summarizes sales of securities available for sale (in thousands): Year Ended 2016 2015 Proceeds received from sales $ 8,248 4,691 Gross gains 102 96 Gross losses 0 (1 ) Net gain from sale of securities $ 102 95 |
Summary of Securities in Continuous Unrealized Loss Position | Securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands): Less Than Twelve Months More Than Twelve Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value At December 31, 2016: U.S. Government agency securities $ (17 ) 1,529 0 0 Municipal securities (282 ) 6,111 0 0 Mortgage-backed securities (191 ) 12,709 (9 ) 501 $ (490 ) 20,349 (9 ) 501 At December 31, 2015: U.S. Government agency securities (9 ) 1,616 0 0 Municipal securities (14 ) 1,620 (40 ) 1,224 Mortgage-backed securities (40 ) 10,803 (50 ) 2,018 $ (63 ) 14,039 (90 ) 3,242 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Segments and Classes of Loans | The segments and classes of loans are as follows (in thousands): At December 31, 2016 2015 Real estate mortgage loans: Commercial $ 65,805 57,847 Residential and home equity 88,883 69,817 Construction 19,991 17,493 Total real estate mortgage loans 174,679 145,157 Commercial loans 46,340 40,229 Consumer and other loans 4,275 3,877 Total loans 225,294 189,263 Add (Less): Net deferred loan costs 350 286 Allowance for loan losses (2,876 ) (2,473 ) Loans, net $ 222,768 187,076 |
Summary of Changes in Allowance for Loan Losses | An analysis of the change in the allowance for loan losses follows (in thousands): Real Estate Mortgage Loans Commercial Residential Home Construction Commercial Consumer Other Total Year Ended December 31, 2016: Beginning balance $ 707 868 246 596 56 2,473 Provision for loan losses 68 206 12 135 3 424 Net (charge-offs) recoveries 0 0 0 (17 ) (4 ) (21 ) Ending balance $ 775 1,074 258 714 55 2,876 At December 31, 2016: Individually evaluated for impairment: Recorded investment $ 0 662 73 76 0 811 Balance in allowance for loan losses $ 0 0 0 76 0 76 Collectively evaluated for impairment: Recorded investment $ 65,805 88,221 19,918 46,264 4,275 224,483 Balance in allowance for loan losses $ 775 1,074 258 638 55 2,800 Year Ended December 31, 2015: Beginning balance 641 594 263 562 38 2,098 Provision for loan losses 66 274 (17 ) 86 24 433 Net (charge-offs) recoveries 0 0 0 (52 ) (6 ) (58 ) Ending balance $ 707 868 246 596 56 2,473 At December 31, 2015: Individually evaluated for impairment: Recorded investment $ 0 0 0 137 7 144 Balance in allowance for loan losses $ 0 0 0 62 7 69 Collectively evaluated for impairment: Recorded investment $ 57,847 69,817 17,493 40,092 3,870 189,119 Balance in allowance for loan losses $ 707 868 246 534 49 2,404 |
Summary of Loan Credit Quality | The following summarizes the loan credit quality (in thousands): Real Estate Mortgage Loans Commercial Residential Home Construction Commercial Consumer Other Total At December 31, 2016: Grade: Pass $ 61,734 84,695 19,485 45,623 4,227 215,764 Special mention 4,071 3,152 333 250 46 7,852 Substandard 0 1,036 173 467 2 1,678 Doubtful 0 0 0 0 0 0 Loss 0 0 0 0 0 0 Total $ 65,805 88,883 19,991 46,340 4,275 225,294 At December 31, 2015: Grade: Pass 52,097 65,367 17,204 39,607 3,836 178,111 Special mention 5,750 3,396 163 461 32 9,802 Substandard 0 1,054 126 161 9 1,350 Doubtful 0 0 0 0 0 0 Loss 0 0 0 0 0 0 Total $ 57,847 69,817 17,493 40,229 3,877 189,263 |
Summary of Past Due Loans | Age analysis of past-due Accruing Loans 30-59 60-89 Greater Total Current Nonaccrual Total At December 31, 2016: Real estate mortgage: Commercial $ 0 0 0 0 65,805 0 65,805 Residential and home equity 371 0 0 371 87,850 662 88,883 Construction 0 0 0 0 19,918 73 19,991 Commercial 0 0 0 0 46,264 76 46,340 Consumer/other 0 0 0 0 4,275 0 4,275 Total $ 371 0 0 371 224,112 811 225,294 At December 31, 2015: Real estate mortgage: Commercial 0 0 0 0 57,847 0 57,847 Residential and home equity 0 0 0 0 69,817 0 69,817 Construction 0 0 0 0 17,493 0 17,493 Commercial 0 0 0 0 40,092 137 40,229 Consumer/other 0 0 0 0 3,877 0 3,877 Total $ 0 0 0 0 189,126 137 189,263 |
Summary of Impaired Loans | The following summarizes the amount of impaired loans (in thousands): With No Related Allowance Recorded With an Allowance Recorded Total Recorded Unpaid Recorded Unpaid Related Recorded Unpaid Related Allowance At December 31, 2016: Residential & Home Equity $ 662 662 0 0 0 662 662 0 Construction 73 73 0 0 0 73 73 0 Commercial 0 0 76 76 76 76 76 76 Total $ 735 735 76 76 76 811 811 76 At December 31, 2015: Commercial loans 0 0 137 137 62 137 137 62 Consumer 0 0 7 7 7 7 7 7 Total $ 0 0 144 144 69 144 144 69 |
Summary of Average Net Investment in Impaired Loans and Interest Income Recognized and Received on Impaired Loans | The average net investment in impaired loans and interest income recognized and received on impaired loans by loan class is as follows (in thousands): Average Interest Interest Year Ended December 31, 2016: Residential & Home Equity $ 354 0 14 Construction 19 0 0 Commercial 107 7 6 Total $ 480 7 20 Year Ended December 31, 2015: Commercial 270 12 12 Consumer 7 1 1 Total $ 277 13 13 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Summary of Premises and Equipment | A summary of premises and equipment follows (in thousands): At December 31, 2016 2015 Land $ 690 690 Building 2,461 2,449 Leasehold improvements 411 377 Furniture, fixtures and equipment 993 930 Computer and software 1,943 1,723 Construction in progress 1,181 275 Total, at cost 7,679 6,444 Less accumulated depreciation and amortization (2,750 ) (2,222 ) Premises and equipment, net $ 4,929 4,222 |
Schedule of Future Minimum Rental Commitments | Future minimum rental commitments, including renewal options, are as follows (in thousands): Year Ending December 31, Amount 2017 $ 155 2018 86 2019 86 2020 86 2021 86 Thereafter 482 $ 981 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Schedule of Maturities of Time Deposits | A schedule of maturities of time deposits at December 31, 2016 follows (in thousands): Year Ending December 31, Amount 2017 $ 15,216 2018 4,540 2019 588 2020 379 $ 20,723 |
Other Borrowings (Tables)
Other Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Summary of Other Borrowings | A summary of other borrowings in 2015 follows ($ in thousands): 2015 Balance outstanding at year-end 0 Average balance outstanding during the year $ 1,223 Average interest rate paid 1.0 % Maximum amount outstanding at any month-end $ 2,661 Pledged securities at year-end 0 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Components of Income Taxes | The components of the income taxes are as follows (in thousands): Year Ended 2016 2015 Current: Federal $ 1,031 828 State 180 23 Total current 1,211 851 Deferred: Federal 1 (25 ) State 5 18 Total deferred 6 (7 ) Total income taxes $ 1,217 844 |
Reconciliation of statutory Federal Income Tax Rate and Effective Tax Rates | The reasons for the difference between the statutory Federal income tax rate of 34% and the effective tax rates are summarized as follows (dollars in thousands): Year Ended December 31, 2016 2015 Amount % of Amount % of Income taxes at statutory rate $ 1,169 34.0 % $ 866 34.0 % Increase (decrease) resulting from: State taxes, net of Federal tax benefit 122 3.5 27 1.1 Tax-exempt (82 ) (2.4 ) (43 ) (1.7 ) Other nondeductible expenses 8 0.3 (6 ) (0.3 ) $ 1,217 35.4 % $ 844 33.1 % |
Summary of Tax Effects of Temporary Differences on Deferred Tax Assets and Liabilities | Tax effects of temporary differences that give rise to the deferred tax assets and liabilities are as follows (in thousands): At December 31, 2016 2015 Deferred tax assets: Allowance for loan losses $ 1,008 848 Organizational and start-up 87 101 Stock-based compensation 18 18 Unrealized losses on securities available for sale 137 0 Other 16 9 Deferred tax assets 1,266 976 Deferred tax liabilities: Accrual to cash conversion (69 ) (89 ) Deferred loan costs (392 ) (293 ) Premises and equipment (272 ) (192 ) Unrealized gains on securities available for sale 0 (34 ) Deferred tax liabilities (733 ) (608 ) Net deferred tax asset $ 533 368 |
Off-Balance-Sheet Financial I34
Off-Balance-Sheet Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Summary of Contractual Amounts of Financial Instruments | A summary of the contractual amounts of the Company’s financial instruments with off-balance-sheet Commitments to extend credit $ 0 Construction loans in process $ 7,426 Unused lines of credit $ 31,276 Standby financial letters of credit $ 1,702 Standby performance letters of credit $ 183 Guaranteed Accounts $ 694 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Stock Option Activity | A summary of the activity in the Company’s 2007 Stock Option Plan is as follows: Number of Options Weighted- Weighted- Aggregate Outstanding at December 31, 2014 108,400 10.01 Options granted 15,000 12.50 Options exercised (30,540 ) 10.00 Options forfeited (17,360 ) $ 11.44 Outstanding at December 31, 2015 75,500 $ 10.19 Options exercised (25,450 ) 10.29 Options forfeited (7,850 ) 10.00 Outstanding at December 31, 2016 42,200 $ 10.16 2.4 years Exercisable at December 31, 2016 41,000 10.15 2.3 years $ 174,000 |
Black-Scholes Option-Pricing Model Assumptions | The fair value of each option granted during the year ended December 31, 2015 was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Year Ended December 31, 2015 Weighted average risk-free interest rate 0.89 % Expected dividend yield — Expected stock volatility 8.13 % Expected life in years 3.0 Per share fair value of options issued during the year $ 0.87 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Summary of Activity of Loans to Related Parties | The Company enters into transactions during the ordinary course of business with officers and directors of the Company and entities in which they hold a significant financial interest. The following table summarizes these transactions (in thousands): Year Ended December 31, 2016 2015 Loans: Beginning balance $ 6,082 6,107 Originated during the year 1,216 283 Principal repayments (1,356 ) (308 ) Ending balance $ 5,942 6,082 Deposits at year end $ 13,947 17,956 |
Fair Value of Financial Instr37
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments | The approximate carrying amounts and estimated fair values of the Company’s financial instruments are as follows (in thousands): At December 31, 2016 2015 Level Carrying Fair Carrying Fair Financial assets: Cash and cash equivalents 1 $ 36,165 36,165 8,429 8,429 Securities available for sale 2 33,103 33,103 38,063 38,063 Loans held for sale 3 3,291 3,500 2,722 2,791 Loans, net 3 222,768 221,320 187,076 188,784 Federal Home Loan Bank stock 3 220 220 189 189 Accrued interest receivable 3 798 798 692 692 Bank-owned life insurance 3 1,711 1,711 1,662 1,662 Financial liabilities- Deposits 3 275,347 275,433 217,573 217,652 Off-balance-sheet 3 0 0 0 0 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Summary of Regulatory Capital Requirements and Bank's Capital Position | The Bank’s actual capital amounts and percentages are also presented in the table (dollars in thousands): For Capital For Well Actual Adequacy Purposes Capitalized Purposes Amount Percentage Amount Percentage Amount Percentage As of December 31, 2016 Tier 1 Leverage Capital $ 25,994 8.73 % $ 11,906 4.00 % $ 14,883 5.00 % Common Equity Tier 1 Risk-Based Capital 25,994 11.70 9,995 4.50 14,437 6.50 Tier 1 Risk-Based Capital 25,994 11.70 13,326 6.00 17,769 8.00 Total Risk-Based Capital 28,772 12.95 17,769 8.00 22,211 10.00 As of December 31, 2015 Tier 1 Leverage Capital $ 23,511 9.48 % $ 9,918 4.00 % $ 12,398 5.00 % Common Equity Tier 1 Risk-Based Capital 23,511 12.79 8,269 4.50 11,945 6.50 Tier1Risk-Based Capital 23,511 12.79 11,026 6.00 14,701 8.00 Total Risk-Based Capital 25,810 14.05 14,701 8.00 18,377 10.00 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Common Share | Outstanding stock options are considered dilutive securities for purposes of calculating diluted EPS which was computed using the treasury stock method. (dollars in thousands, except per share amounts): 2016 2015 Earnings Weighted- Per Earnings Weighted- Per Year Ended December 31: Basic EPS: Net earnings $ 2,220 1,982,334 $ 1.12 $ 1,704 1,945,980 $ 0.88 Effect of dilutive securities- Incremental shares from assumed conversion of options 8,827 9,593 Diluted EPS: Net earnings $ 2,220 1,991,161 $ 1.11 $ 1,704 1,955,573 $ 0.87 |
Parent Company Only Financial40
Parent Company Only Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Schedule of Condensed Balance Sheets | Condensed Balance Sheets (In thousands) At December 31 2016 2015 Assets Cash $ 1,301 1,139 Investment in subsidiary 25,761 23,567 Other assets 20 227 Total assets $ 27,082 24,933 Stockholders’ Equity Stockholders’ equity 27,082 24,933 Total stockholders’ equity $ 27,082 24,933 |
Schedule of Condensed Statements of Operations | Condensed Statements of Earnings (In thousands) Year Ended 2016 2015 Revenues $ 0 0 Expenses (421 ) (322 ) Income tax benefit 159 119 Loss before earnings of subsidiary (262 ) (203 ) Net earnings of subsidiary 2,482 1,907 Net earnings $ 2,220 1,704 |
Schedule of Condensed Statements of Cash Flows | Condensed Statements of Cash Flows (In thousands) Year Ended 2016 2015 Cash flows from operating activities: Net earnings $ 2,220 1,704 Adjustments to reconcile net earnings to net cash used in operating activities: Equity in earnings of subsidiary (2,482 ) (1,907 ) Stock issued as compensation 55 39 Decrease (increase) in other assets 207 (135 ) Net cash used in operating activities 0 (299 ) Cash flow from financing activity- Proceeds from stock options exercised 261 306 Cash flow from investment activities: Cash Dividend paid (99 ) 0 Capital infusion in subsidiary 0 (2,000 ) Net cash used in investing activities (99 ) (2,000 ) Net increase (decrease) in cash 162 (1,993 ) Cash at beginning of the year 1,139 3,132 Cash at end of year $ 1,301 1,139 Supplemental disclosure of cash flow information- Noncash items: Net change in accumulated other comprehensive (loss) income of subsidiary, net change in unrealized gain on securities available for sale, net of tax $ (289 ) 2 Stock-based compensation expense of subsidiary $ 1 15 |
Summary of Significant Accoun41
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2016USD ($)Office | Dec. 31, 2015USD ($) | |
Accounting Policies [Abstract] | ||
Percent of outstanding common stock owns | 100.00% | |
Number of banking offices | Office | 3 | |
Cash reserves with the Federal Reserve Bank | $ 1,799,000 | $ 1,114,000 |
Loans held for sale | 3,291,000 | 2,722,000 |
Gain on SBA loans sold | $ 0 | $ 0 |
Tax benefit likelihood percentage | 50.00% |
Securities Available for Sale -
Securities Available for Sale - Summary of Carrying Amount and Fair Values of Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 33,473 | $ 37,973 |
Gross Unrealized Gains | 129 | 243 |
Gross Unrealized Losses | (499) | (153) |
Fair Value | 33,103 | 38,063 |
US Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,186 | 8,376 |
Gross Unrealized Gains | 2 | 61 |
Gross Unrealized Losses | (17) | (9) |
Fair Value | 2,171 | 8,428 |
Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 12,614 | 9,532 |
Gross Unrealized Gains | 91 | 130 |
Gross Unrealized Losses | (282) | (54) |
Fair Value | 12,423 | 9,608 |
Mortgage-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 18,673 | 20,065 |
Gross Unrealized Gains | 36 | 52 |
Gross Unrealized Losses | (200) | (90) |
Fair Value | $ 18,509 | $ 20,027 |
Securities Available for Sale43
Securities Available for Sale - Securities Available for Sale Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 33,103 | $ 38,063 |
US Government Agency Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 2,171 | 8,428 |
Municipal Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 12,423 | 9,608 |
Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 18,509 | 20,027 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 0 | 0 |
Level 1 [Member] | US Government Agency Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 0 | 0 |
Level 1 [Member] | Municipal Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 0 | 0 |
Level 1 [Member] | Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 0 | 0 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 33,103 | 38,063 |
Level 2 [Member] | US Government Agency Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 2,171 | 8,428 |
Level 2 [Member] | Municipal Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 12,423 | 9,608 |
Level 2 [Member] | Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 18,509 | 20,027 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 0 | 0 |
Level 3 [Member] | US Government Agency Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 0 | 0 |
Level 3 [Member] | Municipal Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 0 | 0 |
Level 3 [Member] | Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 0 | $ 0 |
Securities Available for Sale44
Securities Available for Sale - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2016USD ($)Securities | Dec. 31, 2015USD ($)Securities | |
Investments, Debt and Equity Securities [Abstract] | ||
Securities transferred in or out of Level 1, Level 2 or Level 3 | $ 0 | $ 0 |
Available-for-sale Securities Pledged as Collateral | $ 9,279,000 | $ 9,601,000 |
Number of securities in unrealized loss | Securities | 24 | 22 |
Securities Available for Sale45
Securities Available for Sale - Scheduled Maturities of Securities with Fair Value and Amortized Cost (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one to five years, Amortized cost | $ 3,150 | |
Due in five to ten years, Amortized cost | 7,904 | |
Due after ten years, Amortized cost | 3,746 | |
Mortgage-backed securities, Amortized cost | 18,673 | |
Amortized Cost | 33,473 | $ 37,973 |
Due in one to five years, Fair value | 3,124 | |
Due in five to ten years, Fair value | 7,900 | |
Due after ten years, Fair value | 3,570 | |
Mortgage-backed securities, Fair value | 18,509 | |
Total | $ 33,103 | $ 38,063 |
Securities Available for Sale46
Securities Available for Sale - Summary of Sales of Securities Available for Sale (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Amortized Cost and Fair Value Debt Securities [Abstract] | ||
Proceeds received from sales | $ 8,248 | $ 4,691 |
Gross gains | 102 | 96 |
Gross losses | 0 | (1) |
Net gain from sale of securities | $ 102 | $ 95 |
Securities Available for Sale47
Securities Available for Sale - Summary of Securities in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | $ (490) | $ (63) |
Fair Value, Less Than Twelve Months | 20,349 | 14,039 |
Gross Unrealized Losses, More Than Twelve Months | (9) | (90) |
Fair Value, More Than Twelve Months | 501 | 3,242 |
US Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (17) | (9) |
Fair Value, Less Than Twelve Months | 1,529 | 1,616 |
Gross Unrealized Losses, More Than Twelve Months | 0 | 0 |
Fair Value, More Than Twelve Months | 0 | 0 |
Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (282) | (14) |
Fair Value, Less Than Twelve Months | 6,111 | 1,620 |
Gross Unrealized Losses, More Than Twelve Months | 0 | (40) |
Fair Value, More Than Twelve Months | 0 | 1,224 |
Mortgage-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (191) | (40) |
Fair Value, Less Than Twelve Months | 12,709 | 10,803 |
Gross Unrealized Losses, More Than Twelve Months | (9) | (50) |
Fair Value, More Than Twelve Months | $ 501 | $ 2,018 |
Loans - Segments and Classes of
Loans - Segments and Classes of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | $ 225,294 | $ 189,263 | |
Net deferred loan costs | 350 | 286 | |
Allowance for loan losses | (2,876) | (2,473) | $ (2,098) |
Loans, net | 222,768 | 187,076 | |
Mortgage Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 174,679 | 145,157 | |
Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 65,805 | 57,847 | |
Allowance for loan losses | (775) | (707) | (641) |
Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 88,883 | 69,817 | |
Allowance for loan losses | (1,074) | (868) | (594) |
Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 19,991 | 17,493 | |
Allowance for loan losses | (258) | (246) | (263) |
Loans and Finance Receivables [Member] | Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 46,340 | 40,229 | |
Allowance for loan losses | (714) | (596) | (562) |
Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 4,275 | 3,877 | |
Allowance for loan losses | $ (55) | $ (56) | $ (38) |
Loans - Additional Information
Loans - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2016USD ($)SecurityLoanClassSegment | Dec. 31, 2015USD ($)SecurityLoan | |
Financing Receivable, Impaired [Line Items] | ||
Number of loan portfolio | Segment | 3 | |
Number of loan portfolio class | Class | 5 | |
Financing receivable, recorded investment, 30 days past due and still accruing | 1 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | |
Financing receivable, recorded investment, nonaccrual status | 4 | |
Impaired Loans [Member] | Collateral Pledged [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans measured at fair value on a nonrecurring basis | $ | $ 0 | $ 0 |
Minimum [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impairment valuation loan limit | $ | $ 500,000 | |
Minimum [Member] | Loans Receivable [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Maturity period of loan | 1 year | |
Maximum [Member] | Loans Receivable [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Maturity period of loan | 10 years | |
Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of loan portfolio class | Class | 3 | |
Commercial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Description of interest rate of loans | Equipment loans generally have a term of five years or less and may have a fixed or variable rate | |
Commercial Loans [Member] | Period 1 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Period of portfolio mortgage adjustable rate | 1 year | |
Period of secondary market mortgage fixed rate | 15 years | |
Commercial Loans [Member] | Period 2 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Period of portfolio mortgage adjustable rate | 3 years | |
Period of secondary market mortgage fixed rate | 30 years | |
Commercial Loans [Member] | Period 3 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Period of portfolio mortgage adjustable rate | 5 years | |
Commercial Loans [Member] | Period 4 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Period of portfolio mortgage adjustable rate | 7 years | |
Commercial Loans [Member] | Minimum [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Maturity period of loan | 3 years | |
Commercial Loans [Member] | Maximum [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Maturity period of loan | 5 years | |
Construction Real Estate Mortgage Loans [Member] | Minimum [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Maturity period of loan | 1 year | |
Construction Real Estate Mortgage Loans [Member] | Maximum [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Maturity period of loan | 2 years |
Loans - Summary of Changes in A
Loans - Summary of Changes in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | $ 2,473 | $ 2,098 |
Provision for loan losses | 424 | 433 |
Net (charge-offs) recoveries | (21) | (58) |
Ending balance | 2,876 | 2,473 |
Individually evaluated for impairment: | ||
Recorded investment | 811 | 144 |
Balance in allowance for loan losses | 76 | 69 |
Collectively evaluated for impairment: | ||
Recorded investment | 224,483 | 189,119 |
Balance in allowance for loan losses | 2,800 | 2,404 |
Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 707 | 641 |
Provision for loan losses | 68 | 66 |
Net (charge-offs) recoveries | 0 | 0 |
Ending balance | 775 | 707 |
Individually evaluated for impairment: | ||
Recorded investment | 0 | 0 |
Balance in allowance for loan losses | 0 | 0 |
Collectively evaluated for impairment: | ||
Recorded investment | 65,805 | 57,847 |
Balance in allowance for loan losses | 775 | 707 |
Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 868 | 594 |
Provision for loan losses | 206 | 274 |
Net (charge-offs) recoveries | 0 | 0 |
Ending balance | 1,074 | 868 |
Individually evaluated for impairment: | ||
Recorded investment | 662 | 0 |
Balance in allowance for loan losses | 0 | 0 |
Collectively evaluated for impairment: | ||
Recorded investment | 88,221 | 69,817 |
Balance in allowance for loan losses | 1,074 | 868 |
Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 246 | 263 |
Provision for loan losses | 12 | (17) |
Net (charge-offs) recoveries | 0 | 0 |
Ending balance | 258 | 246 |
Individually evaluated for impairment: | ||
Recorded investment | 73 | 0 |
Balance in allowance for loan losses | 0 | 0 |
Collectively evaluated for impairment: | ||
Recorded investment | 19,918 | 17,493 |
Balance in allowance for loan losses | 258 | 246 |
Loans and Finance Receivables [Member] | ||
Individually evaluated for impairment: | ||
Balance in allowance for loan losses | 76 | 69 |
Loans and Finance Receivables [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Individually evaluated for impairment: | ||
Balance in allowance for loan losses | 0 | |
Loans and Finance Receivables [Member] | Construction Real Estate Mortgage Loans [Member] | ||
Individually evaluated for impairment: | ||
Balance in allowance for loan losses | 0 | |
Loans and Finance Receivables [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 596 | 562 |
Provision for loan losses | 135 | 86 |
Net (charge-offs) recoveries | (17) | (52) |
Ending balance | 714 | 596 |
Individually evaluated for impairment: | ||
Recorded investment | 76 | 137 |
Balance in allowance for loan losses | 76 | 62 |
Collectively evaluated for impairment: | ||
Recorded investment | 46,264 | 40,092 |
Balance in allowance for loan losses | 638 | 534 |
Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 56 | 38 |
Provision for loan losses | 3 | 24 |
Net (charge-offs) recoveries | (4) | (6) |
Ending balance | 55 | 56 |
Individually evaluated for impairment: | ||
Recorded investment | 0 | 7 |
Balance in allowance for loan losses | 0 | 7 |
Collectively evaluated for impairment: | ||
Recorded investment | 4,275 | 3,870 |
Balance in allowance for loan losses | $ 55 | $ 49 |
Loans - Summary of Loan Credit
Loans - Summary of Loan Credit Quality (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | $ 225,294 | $ 189,263 |
Mortgage Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 174,679 | 145,157 |
Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 65,805 | 57,847 |
Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 88,883 | 69,817 |
Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 19,991 | 17,493 |
Loans and Finance Receivables [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 46,340 | 40,229 |
Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 4,275 | 3,877 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 215,764 | 178,111 |
Pass [Member] | Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 61,734 | 52,097 |
Pass [Member] | Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 84,695 | 65,367 |
Pass [Member] | Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 19,485 | 17,204 |
Pass [Member] | Loans and Finance Receivables [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 45,623 | 39,607 |
Pass [Member] | Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 4,227 | 3,836 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 7,852 | 9,802 |
Special Mention [Member] | Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 4,071 | 5,750 |
Special Mention [Member] | Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 3,152 | 3,396 |
Special Mention [Member] | Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 333 | 163 |
Special Mention [Member] | Loans and Finance Receivables [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 250 | 461 |
Special Mention [Member] | Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 46 | 32 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 1,678 | 1,350 |
Substandard [Member] | Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Substandard [Member] | Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 1,036 | 1,054 |
Substandard [Member] | Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 173 | 126 |
Substandard [Member] | Loans and Finance Receivables [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 467 | 161 |
Substandard [Member] | Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 2 | 9 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Doubtful [Member] | Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Doubtful [Member] | Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Doubtful [Member] | Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Doubtful [Member] | Loans and Finance Receivables [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Doubtful [Member] | Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Loss [Member] | Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Loss [Member] | Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Loss [Member] | Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Loss [Member] | Loans and Finance Receivables [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | 0 | 0 |
Loss [Member] | Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans by credit quality | $ 0 | $ 0 |
Loans - Summary of Past Due Loa
Loans - Summary of Past Due Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | $ 371 | $ 0 |
Current | 224,112 | 189,126 |
Nonaccrual Loans | 811 | 137 |
Total Loans | 225,294 | 189,263 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 371 | 0 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Mortgage Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 174,679 | 145,157 |
Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Current | 65,805 | 57,847 |
Nonaccrual Loans | 0 | 0 |
Total Loans | 65,805 | 57,847 |
Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Mortgage Receivable [Member] | Commercial Real Estate Mortgage Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 371 | 0 |
Current | 87,850 | 69,817 |
Nonaccrual Loans | 662 | 0 |
Total Loans | 88,883 | 69,817 |
Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 371 | 0 |
Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Mortgage Receivable [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Current | 19,918 | 17,493 |
Nonaccrual Loans | 73 | 0 |
Total Loans | 19,991 | 17,493 |
Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Mortgage Receivable [Member] | Construction Real Estate Mortgage Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Loans and Finance Receivables [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Current | 46,264 | 40,092 |
Nonaccrual Loans | 76 | 137 |
Total Loans | 46,340 | 40,229 |
Loans and Finance Receivables [Member] | Commercial Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Loans and Finance Receivables [Member] | Commercial Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Loans and Finance Receivables [Member] | Commercial Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Current | 4,275 | 3,877 |
Nonaccrual Loans | 0 | 0 |
Total Loans | 4,275 | 3,877 |
Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | 0 | 0 |
Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Total Past Due | $ 0 | $ 0 |
Loans - Summary of Impaired Loa
Loans - Summary of Impaired Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Related Allowance | $ 76 | $ 69 |
Loans and Finance Receivables [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Related Allowing Recorded Investment | 735 | 0 |
With No Related Allowing Unpaid Contractual Principal Balance | 735 | 0 |
With an Allowance Recorded Investment | 76 | 144 |
With an Allowance Recorded Unpaid Contractual Principal Balance | 76 | 144 |
With an Allowance Recorded Related Allowance | 76 | 69 |
Recorded Investment | 811 | 144 |
Unpaid Contractual Principal Balance | 811 | 144 |
Related Allowance | 76 | 69 |
Loans and Finance Receivables [Member] | Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Related Allowing Recorded Investment | 662 | |
With No Related Allowing Unpaid Contractual Principal Balance | 662 | |
With an Allowance Recorded Investment | 0 | |
With an Allowance Recorded Unpaid Contractual Principal Balance | 0 | |
With an Allowance Recorded Related Allowance | 0 | |
Recorded Investment | 662 | |
Unpaid Contractual Principal Balance | 662 | |
Related Allowance | 0 | |
Loans and Finance Receivables [Member] | Construction Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Related Allowing Recorded Investment | 73 | |
With No Related Allowing Unpaid Contractual Principal Balance | 73 | |
With an Allowance Recorded Investment | 0 | |
With an Allowance Recorded Unpaid Contractual Principal Balance | 0 | |
With an Allowance Recorded Related Allowance | 0 | |
Recorded Investment | 73 | |
Unpaid Contractual Principal Balance | 73 | |
Related Allowance | 0 | |
Loans and Finance Receivables [Member] | Commercial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Related Allowing Recorded Investment | 0 | 0 |
With No Related Allowing Unpaid Contractual Principal Balance | 0 | 0 |
With an Allowance Recorded Investment | 76 | 137 |
With an Allowance Recorded Unpaid Contractual Principal Balance | 76 | 137 |
With an Allowance Recorded Related Allowance | 76 | 62 |
Recorded Investment | 76 | 137 |
Unpaid Contractual Principal Balance | 76 | 137 |
Related Allowance | 76 | 62 |
Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Related Allowing Recorded Investment | 0 | |
With No Related Allowing Unpaid Contractual Principal Balance | 0 | |
With an Allowance Recorded Investment | 7 | |
With an Allowance Recorded Unpaid Contractual Principal Balance | 7 | |
With an Allowance Recorded Related Allowance | $ 0 | 7 |
Recorded Investment | 7 | |
Unpaid Contractual Principal Balance | 7 | |
Related Allowance | $ 7 |
Loans - Summary of Average Net
Loans - Summary of Average Net Investment in Impaired Loans and Interest Income Recognized and Received on Impaired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | $ 480 | $ 277 |
Interest Income Recognized | 7 | 13 |
Interest Income Received | 20 | 13 |
Residential and Home Equity Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 354 | |
Interest Income Recognized | 0 | |
Interest Income Received | 14 | |
Construction Real Estate Mortgage Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 19 | |
Interest Income Recognized | 0 | |
Interest Income Received | 0 | |
Loans and Finance Receivables [Member] | Commercial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 107 | 270 |
Interest Income Recognized | 7 | 12 |
Interest Income Received | $ 6 | 12 |
Loans and Finance Receivables [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 7 | |
Interest Income Recognized | 1 | |
Interest Income Received | $ 1 |
Premises and Equipment - Summar
Premises and Equipment - Summary of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Total, at cost | $ 7,679 | $ 6,444 |
Less accumulated depreciation and amortization | (2,750) | (2,222) |
Premises and equipment, net | 4,929 | 4,222 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total, at cost | 690 | 690 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total, at cost | 2,461 | 2,449 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total, at cost | 411 | 377 |
Furniture, Fixtures and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total, at cost | 993 | 930 |
Computer and Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total, at cost | 1,943 | 1,723 |
Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total, at cost | $ 1,181 | $ 275 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Property Plant And Equipment Capitalized Interest Costs [Abstract] | ||
Operating lease, expiry date | 2,017 | |
Operating lease, description | The Company also has an operating lease that expires in November, 2017, with no options to renew. | |
Rent expense under operating lease | $ 147,000 | $ 137,000 |
Options to extend operating lease | Two 5-year options to extend | |
Operating lease, expiry period | 2017-11 |
Premises and Equipment - Schedu
Premises and Equipment - Schedule of Future Minimum Rental Commitments (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Property Plant And Equipment Capitalized Interest Costs [Abstract] | |
2,017 | $ 155 |
2,018 | 86 |
2,019 | 86 |
2,020 | 86 |
2,021 | 86 |
Thereafter | 482 |
Total | $ 981 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Time Deposits, Fiscal Year Maturity [Abstract] | ||
Aggregate amount of time deposits with a minimum denomination of $100,000 | $ 16.4 | $ 18.1 |
Deposits - Schedule of Maturiti
Deposits - Schedule of Maturities of Time Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Time Deposits, Fiscal Year Maturity [Abstract] | ||
2,017 | $ 15,216 | |
2,018 | 4,540 | |
2,019 | 588 | |
2,020 | 379 | |
Total | $ 20,723 | $ 22,614 |
Other Borrowings - Summary of O
Other Borrowings - Summary of Other Borrowings (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Equity Method Investments And Cost Method Investments [Abstract] | |
Balance outstanding at year-end | $ 0 |
Average balance outstanding during the year | $ 1,223 |
Average interest rate paid | 1.00% |
Maximum amount outstanding at any month-end during the year | $ 2,661 |
Pledged securities at year-end | $ 0 |
Other borrowings - Additional I
Other borrowings - Additional Information (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Equity Method Investments And Cost Method Investments [Abstract] | ||
Maximum borrowing limit under FHLB | $ 35,200,000 | |
FHLB advances outstanding | 0 | $ 0 |
Current borrowing limit under FHLB | $ 16,300,000 |
Income Taxes - Components of In
Income Taxes - Components of Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Current: | ||
Federal | $ 1,031 | $ 828 |
State | 180 | 23 |
Total current | 1,211 | 851 |
Deferred: | ||
Federal | 1 | (25) |
State | 5 | 18 |
Total deferred | 6 | (7) |
Total income taxes | $ 1,217 | $ 844 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
Statutory federal income tax rate | 34.00% | 34.00% |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of statutory Federal Income Tax Rate and Effective Tax Rates (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
Income taxes at statutory rate, Amount | $ 1,169 | $ 866 |
Increase (decrease) resulting from: | ||
State taxes, net of Federal tax benefit, Amount | 122 | 27 |
Tax-exempt income, Amount | (82) | (43) |
Other nondeductible expenses, Amount | 8 | (6) |
Total income taxes | $ 1,217 | $ 844 |
Income taxes at statutory rate, % of Pretax Earnings | 34.00% | 34.00% |
Increase (decrease) resulting from: | ||
State taxes, net of Federal tax benefit, % of Pretax Earnings | 3.50% | 1.10% |
Tax-exempt income, % of Pretax Earnings, % of Pretax Earnings | (2.40%) | (1.70%) |
Other nondeductible expenses, % of Pretax Earnings | 0.30% | (0.30%) |
Income taxes, % of Pretax Earnings | 35.40% | 33.10% |
Income Taxes - Summary of Tax E
Income Taxes - Summary of Tax Effects of Temporary Differences on Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Allowance for loan losses | $ 1,008 | $ 848 |
Organizational and start-up costs | 87 | 101 |
Stock-based compensation | 18 | 18 |
Unrealized losses on securities available for sale | 137 | 0 |
Other | 16 | 9 |
Deferred tax assets | 1,266 | 976 |
Deferred tax liabilities: | ||
Accrual to cash conversion | (69) | (89) |
Deferred loan costs | (392) | (293) |
Premises and equipment | (272) | (192) |
Unrealized gains on securities available for sale | 0 | (34) |
Deferred tax liabilities | (733) | (608) |
Net deferred tax asset | $ 533 | $ 368 |
Off-Balance-Sheet Financial I66
Off-Balance-Sheet Financial Instruments - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Standby Financial Letters of Credit [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Debt instrument maturity period | 1 year |
Collateral amount | $ 395,000 |
Contractual amounts with off-balance-sheet risk | $ 1,702,000 |
Standby Financial Letters of Credit [Member] | Credit Availability Concentration Risk [Member] | Swap Liabilities [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Percentage of additional credit limit guaranteed | 10.00% |
Swap Participation Agreement [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Contractual amounts with off-balance-sheet risk | $ 86,000 |
Swap Participation Agreement [Member] | Credit Availability Concentration Risk [Member] | Swap Liabilities [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Percentage of additional credit limit guaranteed | 13.208% |
Off-Balance-Sheet Financial I67
Off-Balance-Sheet Financial Instruments - Summary of Contractual Amounts of Financial Instruments (Detail) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Commitments to Extend Credit [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Contractual amounts with off-balance-sheet risk | $ 0 |
Construction Loans in Process [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Contractual amounts with off-balance-sheet risk | 7,426,000 |
Unused Lines of Credit [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Contractual amounts with off-balance-sheet risk | 31,276,000 |
Standby Financial Letters of Credit [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Contractual amounts with off-balance-sheet risk | 1,702,000 |
Performance Stand By Letters Of Credit [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Contractual amounts with off-balance-sheet risk | 183,000 |
Guaranteed Accounts [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Contractual amounts with off-balance-sheet risk | $ 694,000 |
Stock Compensation Plans - Addi
Stock Compensation Plans - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $ 1,000 | $ 15,000 |
Stock based compensation income tax benefit | $ 0 | $ 5,000 |
2015 Stock Incentive Compensation Plan [Member] | Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares to be issued under stock option plan | 500,000 | |
Number of shares issued under stock option plan | 0 | |
Maximum percentage of shares issued | 15.00% | |
2007 Incentive Award Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Period for recognition of stock based compensation cost | 12 months | |
2007 Incentive Award Plan [Member] | Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares granted | 0 | |
Unrecognized compensation expense related to nonvested share-based compensation arrangements granted | $ 1,000 | |
Directors Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares to be issued under stock option plan | 74,805 | |
Shares granted | 3,928 | 3,172 |
Stock consideration on percentage of common stock received upon cash fees | 110.00% | |
Shares available for grant | 62,014 |
Stock Compensation Plans - Summ
Stock Compensation Plans - Summary of Stock Option Activity (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Number of Options, Outstanding beginning balance | 75,500 | 108,400 |
Number of Options, granted | 15,000 | |
Number of Options, exercised | (25,450) | (30,540) |
Number of Options, forfeited | (7,850) | (17,360) |
Number of Options, Outstanding ending balance | 42,200 | 75,500 |
Weighted-Average Exercise Price, Outstanding beginning balance | $ 10.19 | $ 10.01 |
Number of Options, Exercisable ending balance | 41,000 | |
Weighted-Average Exercise Price, Options granted | 12.50 | |
Weighted-Average Exercise Price, Options exercised | $ 10.29 | 10 |
Weighted-Average Exercise Price, Options forfeited | 10 | 11.44 |
Weighted-Average Exercise Price, Outstanding ending balance | 10.16 | $ 10.19 |
Weighted-Average Exercise Price, Exercisable | $ 10.15 | |
Weighted-Average Remaining Contractual Term, Outstanding | 2 years 4 months 24 days | |
Weighted-Average Remaining Contractual Term, Exercisable | 2 years 3 months 18 days | |
Aggregate Intrinsic Value, Exercisable | $ 174,000 |
Stock Compensation Plans - Blac
Stock Compensation Plans - Black-Scholes Option-Pricing Model Assumptions (Detail) | 12 Months Ended |
Dec. 31, 2015$ / shares | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Weighted average risk-free interest rate | 0.89% |
Expected dividend yield | 0.00% |
Expected stock volatility | 8.13% |
Expected life in years | 3 years |
Per share fair value of options issued during the year | $ 0.87 |
Profit Sharing Plan - Additiona
Profit Sharing Plan - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | ||
Company contribution to 401(k) profit sharing plan | $ 128,000 | $ 100,000 |
Related Party Transactions - Su
Related Party Transactions - Summary of Activity of Loans to Related Parties (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transactions [Abstract] | ||
Beginning balance | $ 6,082 | $ 6,107 |
Originated during the year | 1,216 | 283 |
Principal repayments | (1,356) | (308) |
Ending balance | 5,942 | 6,082 |
Deposits at year end | $ 13,947 | $ 17,956 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($)a | |
Related Party Transaction [Line Items] | ||
Rent expense under operating lease | $ 147,000 | $ 137,000 |
Premiums paid | 406,000 | 531,000 |
Related party transaction purchase amount | 290,000 | |
Related Party [Member] | ||
Related Party Transaction [Line Items] | ||
Rent expense under operating lease | $ 10,000 | 137,000 |
Expenses related to the loan | $ 20,000 | |
Wakulla County, Florida [Member] | ||
Related Party Transaction [Line Items] | ||
Number of acres of land purchased | a | 3 |
Fair Value of Financial Instr74
Fair Value of Financial Instruments - Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | $ 36,165 | $ 8,429 | $ 7,555 |
Securities available for sale | 33,103 | 38,063 | |
Loans held for sale | 3,291 | 2,722 | |
Loans, net | 222,768 | 187,076 | |
Federal Home Loan Bank stock | 220 | 189 | |
Accrued interest receivable | 798 | 692 | |
Bank-owned life insurance | 1,711 | 1,662 | |
Deposits | 275,347 | 217,573 | |
Level 1 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Securities available for sale | 0 | 0 | |
Level 2 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Securities available for sale | 33,103 | 38,063 | |
Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Securities available for sale | 0 | 0 | |
Estimated Fair Value [Member] | Level 1 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | 36,165 | 8,429 | |
Estimated Fair Value [Member] | Level 2 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Securities available for sale | 33,103 | 38,063 | |
Estimated Fair Value [Member] | Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Loans held for sale | 3,500 | 2,791 | |
Loans, net | 221,320 | 188,784 | |
Federal Home Loan Bank stock | 220 | 189 | |
Accrued interest receivable | 798 | 692 | |
Bank-owned life insurance | 1,711 | 1,662 | |
Deposits | 275,433 | 217,652 | |
Off-balance-sheet financial instruments | 0 | 0 | |
Carrying Amount [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | 36,165 | 8,429 | |
Securities available for sale | 33,103 | 38,063 | |
Loans held for sale | 3,291 | 2,722 | |
Loans, net | 222,768 | 187,076 | |
Federal Home Loan Bank stock | 220 | 189 | |
Accrued interest receivable | 798 | 692 | |
Bank-owned life insurance | 1,711 | 1,662 | |
Deposits | 275,347 | 217,573 | |
Off-balance-sheet financial instruments | $ 0 | $ 0 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Regulatory Capital Requirements [Abstract] | |
Percentage of capital conservation buffer minimum risk-based capital requirement | 0.625% |
Capital conservation buffer phase period | 3 years |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Regulatory Capital Requirements and Bank's Capital Position (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Banking and Thrift [Abstract] | ||
Tier 1 Leverage Capital, Actual amount | $ 25,994 | $ 23,511 |
Tier 1 Leverage Capital Ratio, Actual Percentage | 8.73% | 9.48% |
Tier 1 Leverage Capital, For Capital Adequacy Purposes, Amount | $ 11,906 | $ 9,918 |
Tier 1 Leverage Capital Ratio, For Capital Adequacy Purposes, Percentage | 4.00% | 4.00% |
Tier 1 Leverage Capital, For Well Capitalized Purposes, Amount | $ 14,883 | $ 12,398 |
Tier 1 Leverage Capital Ratio, For Well Capitalized Purposes, Percentage | 5.00% | 5.00% |
Common Equity Tier 1 Risk-Based Capital Ratio, Actual Amount | $ 25,994 | $ 23,511 |
Common Equity Tier 1 Risk-Based Capital Ratio, Actual Percentage | 11.70% | 12.79% |
Common Equity Tier 1 Risk-Based Capital Ratio, For Capital Adequacy Purposes, Amount | $ 9,995 | $ 8,269 |
Common Equity Tier 1 Risk-Based Capital Ratio, For Capital Adequacy Purposes, Percentage | 4.50% | 4.50% |
Common Equity Tier 1 Risk-Based Capital Ratio, For Well Capitalized Purposes, Amount | $ 14,437 | $ 11,945 |
Common Equity Tier 1 Risk-Based Capital Ratio, For Well Capitalized Purposes, Percentage | 6.50% | 6.50% |
Tier 1 Risk-Based Capital, Actual Amount | $ 25,994 | $ 23,511 |
Tier 1 Risk-Based Capital Ratio, Actual Percentage | 11.70% | 12.79% |
Tier 1 Risk-Based Capital, For Capital Adequacy Purposes, Amount | $ 13,326 | $ 11,026 |
Tier 1 Risk-Based Capital Ratio, For Capital Adequacy Purposes, Percentage | 6.00% | 6.00% |
Tier 1 Risk-Based Capital, For Well Capitalized Purposes, Amount | $ 17,769 | $ 14,701 |
Common Equity Tier 1 Risk-Based Capital Ratio, For Well Capitalized Purposes, Percentage | 8.00% | 8.00% |
Total Risk-Based Capital, Actual Amount | $ 28,772 | $ 25,810 |
Total Risk-Based Capital Ratio, Actual Percentage | 12.95% | 14.05% |
Total Risk-Based Capital, For Capital Adequacy Purposes, Amount | $ 17,769 | $ 14,701 |
Total Risk-Based Capital Ratio, For Capital Adequacy Purposes, Percentage | 8.00% | 8.00% |
Total Risk-Based Capital, For Well Capitalized Purposes, Amount | $ 22,211 | $ 18,377 |
Total Risk-Based Capital Ratio, For Well Capitalized Purposes, Percentage | 10.00% | 10.00% |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | ||
Earnings | $ 2,220 | $ 1,704 |
Weighted-Average Shares | 1,982,334 | 1,945,980 |
Per Share Amount | $ 1.12 | $ 0.88 |
Effect of dilutive securities-Incremental shares from assumed conversion of options | 8,827 | 9,593 |
Earnings | $ 2,220 | $ 1,704 |
Weighted-Average Shares | 1,991,161 | 1,955,573 |
Per Share Amount | $ 1.11 | $ 0.87 |
Parent Company Only Financial78
Parent Company Only Financial Information - Schedule of Condensed Balance Sheets (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Assets | |||
Cash | $ 36,165 | $ 8,429 | $ 7,555 |
Other assets | 423 | 621 | |
Total assets | 303,941 | 244,044 | |
Stockholders' Equity | |||
Stockholders' equity | 27,082 | 24,933 | 22,867 |
Total stockholders' equity | 27,082 | 24,933 | 22,867 |
Parent Company [Member] | |||
Assets | |||
Cash | 1,301 | 1,139 | $ 3,132 |
Investment in subsidiary | 25,761 | 23,567 | |
Other assets | 20 | 227 | |
Total assets | 27,082 | 24,933 | |
Stockholders' Equity | |||
Stockholders' equity | 27,082 | 24,933 | |
Total stockholders' equity | $ 27,082 | $ 24,933 |
Parent Company Only Financial79
Parent Company Only Financial Information - Schedule of Condensed Statements of Earnings (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ||
Income tax benefit | $ (1,217) | $ (844) |
Net earnings | 2,220 | 1,704 |
Parent Company [Member] | ||
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ||
Revenues | 0 | 0 |
Expenses | (421) | (322) |
Income tax benefit | 159 | 119 |
Loss before earnings of subsidiary | (262) | (203) |
Net earnings of subsidiary | 2,482 | 1,907 |
Net earnings | $ 2,220 | $ 1,704 |
Parent Company Only Financial80
Parent Company Only Financial Information - Schedule of Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | ||
Net earnings | $ 2,220 | $ 1,704 |
Adjustments to reconcile net earnings to net cash used in operating activities: | ||
Stock issued as compensation | 1 | 15 |
Decrease (increase) in other assets | 198 | (303) |
Net cash provided by operating activities | 2,946 | 2,060 |
Cash flow from financing activity - | ||
Proceeds from stock options exercised | 261 | 306 |
Cash flow from investment activities: | ||
Cash Dividend paid | (99) | 0 |
Net cash used in investing activities | (33,146) | (32,395) |
Net increase (decrease) in cash | 27,736 | 874 |
Cash and cash equivalents at beginning of year | 8,429 | 7,555 |
Cash and cash equivalents at end of year | 36,165 | 8,429 |
Supplemental disclosure of cash flow information- Noncash items: | ||
Net change in accumulated other comprehensive (loss) income of subsidiary, net change in unrealized gain on securities available for sale, net of tax | (289) | 2 |
Parent Company [Member] | ||
Cash flows from operating activities: | ||
Net earnings | 2,220 | 1,704 |
Adjustments to reconcile net earnings to net cash used in operating activities: | ||
Equity in earnings of subsidiary | (2,482) | (1,907) |
Stock issued as compensation | 55 | 39 |
Decrease (increase) in other assets | 207 | (135) |
Net cash provided by operating activities | 0 | (299) |
Cash flow from financing activity - | ||
Proceeds from stock options exercised | 261 | 306 |
Cash flow from investment activities: | ||
Cash Dividend paid | (99) | 0 |
Capital infusion in subsidiary | 0 | (2,000) |
Net cash used in investing activities | (99) | (2,000) |
Net increase (decrease) in cash | 162 | (1,993) |
Cash and cash equivalents at beginning of year | 1,139 | 3,132 |
Cash and cash equivalents at end of year | 1,301 | 1,139 |
Supplemental disclosure of cash flow information- Noncash items: | ||
Net change in accumulated other comprehensive (loss) income of subsidiary, net change in unrealized gain on securities available for sale, net of tax | (289) | 2 |
Stock-based compensation expense of subsidiary | $ 1 | $ 15 |