Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 30, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | RIVE | |
Entity Registrant Name | Riverview Financial Corp | |
Entity Central Index Key | 1,590,799 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 9,084,373 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets: | ||
Cash and due from banks | $ 14,396 | $ 9,413 |
Interest-bearing deposits in other banks | 40,724 | 16,373 |
Federal funds sold | 4,729 | |
Investment securities available-for-sale | 88,773 | 93,201 |
Loans held for sale | 610 | 254 |
Loans, net | 934,190 | 955,971 |
Less: allowance for loan losses | 6,515 | 6,306 |
Net loans | 927,675 | 949,665 |
Premises and equipment, net | 18,714 | 18,631 |
Accrued interest receivable | 2,865 | 3,237 |
Goodwill | 24,754 | 24,754 |
Intangible assets | 4,155 | 4,376 |
Other assets | 43,771 | 43,703 |
Total assets | 1,171,166 | 1,163,607 |
Deposits: | ||
Noninterest-bearing | 157,011 | 155,895 |
Interest-bearing | 881,594 | 870,585 |
Total deposits | 1,038,605 | 1,026,480 |
Short-term borrowings | 6,000 | |
Long-term debt | 13,160 | 13,233 |
Accrued interest payable | 466 | 468 |
Other liabilities | 10,535 | 11,170 |
Total liabilities | 1,062,766 | 1,057,351 |
Stockholders' equity: | ||
Common stock: no par value, authorized 20,000,000 shares; March 31, 2018, issued and outstanding 9,084,277 shares; December 31, 2017, issued and outstanding 9,069,363 shares | 100,660 | 100,476 |
Capital surplus | 422 | 423 |
Retained earnings | 9,747 | 6,936 |
Accumulated other comprehensive loss | (2,429) | (1,579) |
Total stockholders' equity | 108,400 | 106,256 |
Total liabilities and stockholders' equity | $ 1,171,166 | $ 1,163,607 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | ||
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 9,084,277 | 9,069,363 |
Common stock, shares outstanding | 9,084,277 | 9,069,363 |
Consolidated Statements of Inco
Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest and fees on loans: | ||
Taxable | $ 12,241 | $ 4,285 |
Tax-exempt | 234 | 108 |
Interest and dividends on investment securities available-for-sale: | ||
Taxable | 523 | 564 |
Tax-exempt | 82 | 47 |
Dividends | 3 | |
Interest on interest-bearing deposits in other banks | 79 | 23 |
Interest on federal funds sold | 10 | 6 |
Total interest income | 13,169 | 5,036 |
Interest expense: | ||
Interest on deposits | 1,554 | 532 |
Interest on short-term borrowings | 30 | 22 |
Interest on long-term debt | 176 | 75 |
Total interest expense | 1,760 | 629 |
Net interest income | 11,409 | 4,407 |
Provision for loan losses | 390 | 605 |
Net interest income after provision for loan losses | 11,019 | 3,802 |
Noninterest income: | ||
Service charges, fees and commissions | 1,228 | 337 |
Commission and fees on fiduciary activities | 210 | 30 |
Wealth management income | 154 | 258 |
Mortgage banking income | 170 | 82 |
Bank owned life insurance investment income | 191 | 73 |
Net loss on sale of investment securities available-for-sale | (1) | |
Total noninterest income | 1,953 | 779 |
Noninterest expense: | ||
Salaries and employee benefits expense | 5,322 | 2,836 |
Net occupancy and equipment expense | 1,122 | 646 |
Amortization of intangible assets | 221 | 164 |
Net cost of operation of other real estate owned | (1) | 36 |
Other expenses | 2,872 | 1,481 |
Total noninterest expense | 9,536 | 5,163 |
Income (loss) before income taxes | 3,436 | (582) |
Income tax expense (benefit) | 625 | (15) |
Net income (loss) | 2,811 | (567) |
Other comprehensive income (loss): | ||
Unrealized gain (loss) on investment securities available-for-sale | (1,075) | 512 |
Reclassification adjustment for net loss on sale of investment securities available-for-sale included in net income | 1 | |
Income tax expense (benefit) related to other comprehensive income | (225) | 174 |
Other comprehensive income (loss), net of income taxes | (850) | 339 |
Comprehensive income (loss) | $ 1,961 | $ (228) |
Net income: | ||
Basic | $ 0.31 | $ (0.12) |
Diluted | $ 0.31 | $ (0.12) |
Average common shares outstanding: | ||
Basic | 9,079,043 | 3,454,704 |
Diluted | 9,137,706 | 3,454,704 |
Dividends declared | $ 0.14 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance | $ 41,920 | $ 29,052 | $ 220 | $ 14,845 | $ (2,197) | |
Net income (loss) | (567) | (567) | ||||
Other comprehensive income (loss), net of income taxes | 339 | 339 | ||||
Compensation cost of option grants | 4 | 4 | ||||
Issuance of 269,885 common shares | 2,658 | 2,658 | ||||
Issuance of 1,348,809 preferred shares | 13,283 | $ 13,283 | ||||
Issuance under ESPP, 401k and Dividend Reinvestment plans | 123 | 123 | ||||
Dividends declared | (669) | (669) | ||||
Balance | 57,091 | $ 13,283 | 31,833 | 224 | 13,609 | (1,858) |
Balance | 106,256 | 100,476 | 423 | 6,936 | (1,579) | |
Net income (loss) | 2,811 | 2,811 | ||||
Other comprehensive income (loss), net of income taxes | (850) | (850) | ||||
Compensation cost of option grants | (1) | (1) | ||||
Issuance under ESPP, 401k and Dividend Reinvestment plans | 135 | 135 | ||||
Exercise of stock options | 49 | 49 | ||||
Balance | $ 108,400 | $ 100,660 | $ 422 | $ 9,747 | $ (2,429) |
Consolidated Statements of Cha6
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||
Issuance of common shares | 269,885 | |
Issuance of preferred shares | 1,348,809 | |
Issuance under ESPP, 401k and Dividend Reinvestment plans, shares | 10,153 | 10,607 |
Dividends declared, per share | $ 0.14 | |
Exercise of stock options, shares | 4,761 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,811 | $ (567) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
Depreciation and amortization of premises and equipment | 286 | 195 |
Provision for loan losses | 390 | 605 |
Stock based compensation | (1) | 4 |
Net amortization of investment securities available-for-sale | 207 | 103 |
Net cost of operation of other real estate owned | (1) | 36 |
Net loss on sale of investment securities available-for-sale | 1 | |
Amortization of purchase adjustment on loans | (1,873) | (43) |
Amortization of intangible assets | 221 | 164 |
Deferred income taxes | 687 | (48) |
Proceeds from sale of loans originated for sale | 5,827 | 4,558 |
Net gain on sale of loans originated for sale | (170) | (82) |
Loans originated for sale | (6,013) | (4,346) |
Bank owned life insurance investment income | (191) | (73) |
Accrued interest receivable | 372 | (155) |
Other assets | (691) | (603) |
Accrued interest payable | (2) | 11 |
Other liabilities | (635) | (223) |
Net cash provided by (used in) operating activities | 1,224 | (463) |
Investment securities available-for-sale: | ||
Purchases | 0 | 0 |
Proceeds from repayments | 3,146 | 782 |
Proceeds from sales | 0 | 0 |
Proceeds from the sale of other real estate owned | 145 | 215 |
Net decrease in restricted equity securities | 208 | 60 |
Net decrease (increase) decrease in loans | 23,473 | (55,290) |
Purchases of premises and equipment | (369) | (110) |
Business disposition, net of cash | 329 | |
Net cash provided by (used in) investing activities | 26,603 | (54,014) |
Cash flows from financing activities: | ||
Net increase in deposits | 12,125 | 43,947 |
Net increase (decrease) in short-term borrowings | (6,000) | (1,500) |
Repayment of long-term debt | (73) | (81) |
Proceeds from long-term debt | 0 | 0 |
Issuance under ESPP, 401k and DRP plans | 135 | 123 |
Issuance of common stock | 2,658 | |
Issuance of preferred stock | 13,283 | |
Proceeds from exercise of stock options | 49 | |
Cash dividends paid | (669) | |
Net cash provided by (used in) financing activities | 6,236 | 57,761 |
Net increase (decrease) in cash and cash equivalents | 34,063 | 3,284 |
Cash and cash equivalents-beginning | 25,786 | 19,120 |
Cash and cash equivalents-ending | 59,849 | 22,404 |
Cash paid during the period for: | ||
Interest | 1,762 | 927 |
Income taxes | $ 0 | 0 |
Noncash items from investing activities: | ||
Other real estate acquired in settlement of loans | $ 187 |
Summary of significant accounti
Summary of significant accounting policies | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Summary of significant accounting policies | 1. Summary of significant accounting policies: Nature of Operations Riverview Financial Corporation, (the “Company” or “Riverview”), a bank holding company incorporated under the laws of Pennsylvania, provides a full range of financial services through its wholly-owned subsidiary, Riverview Bank (the “Bank”). On October 2, 2017, the Company announced the completion of its merger of equals with CBT Financial Corp. (“CBT”), effective October 1, 2017 pursuant to the Agreement and Plan of Merger between Riverview and CBT, dated April 19, 2017. On the effective date, CBT was merged with and into Riverview, with Riverview surviving (the “merger”). Additionally, CBT Bank, the wholly-owned subsidiary of CBT, merged with and into Riverview Bank, the wholly-owned subsidiary of Riverview, with Riverview Bank as the surviving institution. The Company’s financial results reflect the merger of CBT Bank with and into Riverview Bank under the purchase method of accounting, with the Company treated as the acquirer from accounting and reporting purposes. As a result, the historical financial information included in the Company’s consolidated financial statements and related notes as reported in this Form 10-Q Riverview Bank, with 30 full service offices and three limited purpose offices, is a full service commercial bank offering a wide range of traditional banking services and financial advisory, insurance and investment services to individuals, municipalities and small to medium sized businesses in the Pennsylvania market areas of Berks, Blaire, Centre, Clearfield, Dauphin, Huntingdon, Lebanon, Lycoming, Northumberland, Perry, Schuylkill and Somerset Counties in Pennsylvania. Basis of presentation: The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP’) for interim financial information and with the instructions to Form 10-Q Regulation S-X. 10-K, The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates that are particularly susceptible to material change in the near term relate to the determination of the allowance for loan losses, fair value of financial instruments, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, the valuation of deferred tax assets, the determination of other-than-temporary impairment losses on securities and impairment of goodwill. Actual results could differ from those estimates. Recent Accounting Standards In January 2016, the Financial Accounting Standards Board, (“FASB”) issued ASU No. 2016-01, available-for-sale 2016-01 In February 2016, the FASB issued ASU No. 2016-02, 2016-02, right-of-use 2016-02 In June 2016, the FASB ASU No. 2016-13, 2016-13 requires 2016-13 available-for-sale In August 2016, the FASB issued ASU No. 2016-15, In December 2016, the FASB issued ASU No. 2016-20, ASU 2016-20 ASU 2014-09, 2014-09 2014-09 ASU 2016-20 2014-09 In January 2017, FASB issued ASU No. 2017-01, No. 2017-01 In January 2017, the FASB issued ASU No. 2017-03, 2014-09, 2016-02 2016-13 2014-01, In January 2017, FASB issued ASU No. 2017-04, In February 2017, the FASB issued ASU No. 2017-05, No. 2017-05 In March 2017, the FASB issued ASU No. 2017-07, No. 2017-07 In March 2017, FASB issued ASU No. 2017-08, 2017-08 In May 2017, the FASB issued ASU No. 2017-09, No. 2017-09 In August 2017, FASB issued ASU No. 2017-12, In September 2017, the FASB issued ASU No. 2017-13, No. 2014-09, No. 2016-02, 2017-13 In November 2017, the FASB issued ASU No. 2017-14 No. 33-10403, No. 2017-14 In February 2018, the FASB issued ASU No. 2018-02, No. 2018-02 In February 2018, the FASB issued ASU No. 2018-03, 825-10): No. 2016-01, No. 2018-03 In March 2018, the FASB has issued ASU No. 2018-05, No. 2018-05 |
Other comprehensive income (los
Other comprehensive income (loss) | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Other comprehensive income (loss) | 2. Other comprehensive income (loss): The components of other comprehensive income (loss) and their related tax effects are reported in the Consolidated Statements of Income and Comprehensive Income (Loss). The accumulated other comprehensive income (loss) included in the Consolidated Balance Sheets relates to net unrealized gains and losses on investment securities available-for-sale The components of accumulated other comprehensive income (loss) included in stockholders’ equity at March 31, 2018 and December 31, 2017 is as follows: March 31, December 31, Net unrealized loss on investment securities available-for-sale $ (2,206 ) $ (1,131 ) Related income taxes (463 ) (238 ) Net of income taxes (1,743 ) (893 ) Benefit plan adjustments (869 ) (869 ) Related income taxes (183 ) (183 ) Net of income taxes (686 ) (686 ) Accumulated other comprehensive income (loss) $ (2,429 ) $ (1,579 ) Other comprehensive income (loss) and related tax effects for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, 2018 2017 Unrealized loss on investment securities available-for-sale $ (1,075 ) $ 512 Net gain on the sale of investment securities available-for-sale (1) 1 Other comprehensive loss before taxes (1,075 ) 513 Income tax expense (benefit) (225 ) 174 Other comprehensive loss $ (850 ) $ 339 (1) Represents amounts reclassified out of accumulated other comprehensive income and included in gains on sale of investment securities on the consolidated statements of income and comprehensive income. |
Earnings per share
Earnings per share | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings per share | 3. Earnings per share: Basic earnings per share is computed by dividing net income (loss) allocated to common stockholders divided by the weighted-average number of common shares outstanding during the period. Net income (loss) allocated to common stockholders is net income (loss) adjusted for preferred stock dividends including dividends declared, less income (loss) allocated to participating securities. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. The following table provides a reconciliation between the computation of basic earnings per share and diluted earnings per share for the three months ended March 31, 2018 and 2017: Three months ended March 31, 2018 2017 Numerator: Net income (loss) $ 2,811 $ (567 ) Dividends on preferred stock (185 ) Net income (loss) available to common stockholders $ 2,811 $ (752 ) Undistributed loss allocated to preferred stockholders 347 Income (loss) allocated to common stockholders $ 2,811 $ (405 ) Denominator: Basic 9,079,043 3,454,704 Dilutive options 58,663 Diluted 9,137,706 3,454,704 Earnings per share: Basic $ 0.31 $ (0.12 ) Diluted $ 0.31 $ (0.12 ) For the three months ended March 31, 2018, there were no outstanding stock options that were excluded from the dilutive earnings per share calculation. There were 43,000 outstanding stock options for the three months ended March 31, 2017 that were excluded from the diluted earnings per share calculation because of their antidilutive effect. On January 20, 2017, Riverview announced that it entered into agreements with accredited investors and qualified institutional buyers to raise approximately $17.0 million in common and preferred equity, before expenses, through the private placement of 269,885 shares of its no par value common stock at a price of $10.50 per share and 1,348,809 shares of a newly created Series A convertible, perpetual preferred stock (the “Series A preferred stock”) at a price of $10.50 per share. |
Investment securities
Investment securities | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment securities | 4. Investment securities: The amortized cost and fair value of investment securities available-for-sale March 31, 2018 Amortized Gross Gross Fair State and municipals: Taxable $ 35,153 $ 219 $ 1,271 $ 34,101 Tax-exempt 15,141 5 235 14,911 Mortgage-backed securities: U.S. Government agencies 21,291 50 54 21,287 U.S. Government-sponsored enterprises 9,868 12 327 9,553 Corporate debt obligations 9,526 605 8,921 Total $ 90,979 $ 286 $ 2,492 $ 88,773 December 31, 2017 Amortized Gross Gross Fair State and municipals: Taxable $ 35,352 $ 334 $ 684 $ 35,002 Tax-exempt 16,325 47 64 16,308 Mortgage-backed securities: U.S. Government agencies 22,908 3 94 22,817 U.S. Government-sponsored enterprises 10,218 19 148 10,089 Corporate debt obligations 9,529 544 8,985 Total $ 94,332 $ 403 $ 1,534 $ 93,201 The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available-for-sale March 31, 2018 Fair Within one year $ 2,823 After one but within five years 6,203 After five but within ten years 12,566 After ten years 36,341 57,933 Mortgage-backed securities 30,840 Total $ 88,773 Securities with a carrying value of $52,729 and $93,201 at March 31, 2018 and December 31, 2017, respectively, were pledged to secure public deposits and repurchase agreements as required or permitted by law. Securities and short-term investment activities are conducted with a diverse group of government entities, corporations and state and local municipalities. The counterparty’s creditworthiness and type of collateral is evaluated on a case-by-case The fair value and gross unrealized losses of investment securities with unrealized losses for which an other-than-temporary impairment (“OTTI”) has not been recognized at March 31, 2018 and December 31, 2017, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, are summarized as follows: Less Than 12 Months 12 Months or More Total March 31, 2018 Fair Unrealized Fair Unrealized Fair Unrealized State and municipals: Taxable $ 6,699 $ 97 $ 19,628 $ 1,174 $ 26,327 $ 1,271 Tax-exempt 13,835 235 13,835 235 Mortgage-backed securities: U.S. Government agencies 3,095 48 158 6 3,253 54 U.S. Government-sponsored enterprises 4,042 92 3,952 235 7,994 327 Corporate debt obligation 8,921 605 8,921 605 Total $ 27,671 $ 472 $ 32,659 $ 2,020 $ 60,330 $ 2,492 Less Than 12 Months 12 Months or More Total December 31, 2017 Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government-sponsored enterprises State and municipals: Taxable $ 4,757 $ 30 $ 20,185 $ 654 $ 24,942 $ 684 Tax-exempt 10,506 64 10,506 64 Mortgage-backed securities: U.S. Government agencies 16,746 87 193 7 16,939 94 U.S. Government-sponsored enterprises 4,294 23 4,174 125 8,468 148 Corporate debt obligation 3,800 200 5,185 344 8,985 544 Total $ 40,103 $ 404 $ 29,737 $ 1,130 $ 69,840 $ 1,534 The Company had 87 investment securities, consisting of 68 taxable state and municipal obligations, 15 mortgage-backed securities, and four corporate debt obligations that were in unrealized loss positions at March 31, 2018. Of these securities, 25 taxable state and municipal obligation, five mortgage-backed securities and four corporate debt obligations were in a continuous unrealized loss position for twelve months or more. Management does not consider the unrealized losses on the debt securities, as a result of changes in interest rates, to be OTTI based on historical evidence that indicates the cost of these securities is recoverable within a reasonable period of time in relation to normal cyclical changes in the market rates of interest. Moreover, because there has been no material change in the credit quality of the issuers or other events or circumstances that may cause a significant adverse impact on the fair value of these securities, and management does not intend to sell these securities and it is unlikely that the Company will be required to sell these securities before recovery of their amortized cost basis, which may be maturity, the Company does not consider the unrealized losses to be OTTI at March 31, 2018. There was no OTTI recognized for the three months ended March 31, 2018 and 2017. The Company had 88 investment securities, consisting of 34 taxable state and municipal obligations, 21 tax-exempt |
Loans, net and allowance for lo
Loans, net and allowance for loan losses | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loans, net and allowance for loan losses | 5. Loans, net and allowance for loan losses: The major classifications of loans outstanding, net of deferred loan origination fees and costs at March 31, 2018 and December 31, 2017 are summarized as follows. Net deferred loan costs were $891 and $863 at March 31, 2018 and December 31, 2017. March 31, December 31, Commercial $ 135,049 $ 140,116 Real estate: Construction 33,209 34,405 Commercial 516,333 526,230 Residential 236,390 240,626 Consumer 13,209 14,594 Total $ 934,190 $ 955,971 The changes in the allowance for loan losses account by major classification of loan for the three months ended March 31, 2018 and 2017 are summarized as follows: Real Estate March 31, 2018 Commercial Construction Commercial Residential Consumer Unallocated Total Allowance for loan losses: Beginning Balance January 1, 2018 $ 1,206 $ 379 $ 2,963 $ 1,340 $ 37 $ 381 $ 6,306 Charge-offs (77 ) (50 ) (99 ) (226 ) Recoveries 3 22 1 39 45 Provisions (316 ) 5 493 (112 ) 55 265 390 Ending balance $ 816 $ 384 $ 3,458 $ 1,179 $ 32 $ 646 $ 6,515 Real Estate March 31, 2017 Commercial Construction Commercial Residential Consumer Unallocated Total Allowance for loan losses: Beginning Balance January 1, 2017 $ 629 $ 160 $ 2,110 $ 789 $ 44 $ 3,732 Charge-offs (7 ) (5 ) (12 ) Recoveries 3 2 1 4 Provisions (4 ) 432 38 15 $ 124 605 Ending balance $ 625 $ 160 $ 2,545 $ 821 $ 54 $ 124 $ 4,329 The allocation of the allowance for loan losses and the related loans by major classifications of loans at March 31, 2018 and December 31, 2017 is summarized as follows: Real Estate March 31, 2018 Commercial Construction Commercial Residential Consumer Unallocated Total Allowance for loan losses: Ending balance $ 816 $ 384 $ 3,458 $ 1,179 $ 32 $ 646 $ 6,515 Ending balance: individually evaluated for impairment 69 78 47 194 Ending balance: collectively evaluated for impairment 747 384 3,380 1,132 32 646 6,321 Ending balance: purchased credit impaired loans $ $ $ $ $ $ $ Loans receivable: Ending balance $ 135,049 $ 33,209 $ 516,333 $ 236,390 $ 13,209 $ $ 934,190 Ending balance: individually evaluated for impairment 1,693 2,919 2,414 7,026 Ending balance: collectively evaluated for impairment 132,912 33,209 507,714 233,052 13,209 920,096 Ending balance: purchased credit impaired loans $ 444 $ $ 5,700 $ 924 $ $ $ 7,068 Real Estate December 31, 2017 Commercial Construction Commercial Residential Consumer Unallocated Total Allowance for loan losses: Ending balance $ 1,206 $ 379 $ 2,963 $ 1,340 $ 37 $ 381 $ 6,306 Ending balance: individually evaluated for impairment 56 76 92 224 Ending balance: collectively evaluated for impairment 1,150 379 2,887 1,248 37 381 6,082 Ending balance: purchased credit impaired loans $ $ $ $ $ $ $ Loans receivable: Ending balance $ 140,116 $ 34,405 $ 526,230 $ 240,626 $ 14,594 $ $ 955,971 Ending balance: individually evaluated for impairment 777 2,988 2,482 6,247 Ending balance: collectively evaluated for impairment 138,824 34,405 516,300 237,089 14,594 941,212 Ending balance: purchased credit impaired loans $ 515 $ $ 6,942 $ 1,055 $ $ $ 8,512 The Company segments 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. Loans are individually analyzed for credit risk by classifying them within the Company’s internal risk rating system. The Company’s risk rating classifications are defined as follows: • Pass—A loan to borrowers with acceptable credit quality and risk that is not adversely classified as Substandard, Doubtful, Loss or designated as Special Mention. • Special Mention—A loan that has potential weaknesses that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution’s credit position at some future date. Special Mention loans are not adversely classified since they do not expose the Company to sufficient risk to warrant adverse classification. • Substandard—A loan that is inadequately protected by the current sound worth and paying capacity of the obligor or by the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. • Doubtful—A loan classified as Doubtful has all the weaknesses inherent in one classified Substandard with the added characteristic that the weaknesses make the collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. • Loss—A loan classified as Loss is considered uncollectible and of such little value that its continuance as a bankable loan is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be effected in the future. The following tables present the major classification of loans summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company’s internal risk rating system at March 31, 2018 and December 31, 2017: March 31, 2018 Pass Special Substandard Doubtful Total Commercial $ 121,929 $ 8,623 $ 4,497 $ 135,049 Real estate: Construction 32,028 1,058 123 33,209 Commercial 489,204 11,724 15,405 516,333 Residential 230,320 2,187 3,883 236,390 Consumer 13,111 98 13,209 Total $ 886,592 $ 23,690 $ 23,908 $ 934,190 December 31, 2017 Pass Special Substandard Doubtful Total Commercial $ 126,506 $ 9,372 $ 4,238 $ 140,116 Real estate: Construction 32,840 1,442 123 34,405 Commercial 497,852 15,305 13,073 526,230 Residential 234,808 2,214 3,604 240,626 Consumer 14,474 120 14,594 Total $ 906,480 $ 28,453 $ 21,038 $ 955,971 The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of March 31, 2018 and December 31, 2017. Purchase credit impaired (“PCI”) loans are excluded from the aging and nonaccrual loan schedules. Accrual Loans March 31, 2018 30-59 Days 60-89 Days 90 or More Total Past Current Nonaccrual Total Loans Commercial $ 864 $ 23 $ 887 $ 132,723 $ 995 $ 134,605 Real estate: Construction 14 14 33,195 33,209 Commercial 1,767 60 $ 150 1,977 508,309 347 510,633 Residential 2,121 231 234 2,586 231,598 1,282 235,466 Consumer 125 19 9 153 13,056 13,209 Total $ 4,891 $ 333 $ 393 $ 5,617 $ 918,881 $ 2,624 $ 927,122 Purchased credit impaired loans 7,068 Total Loans $ 934,190 Accrual Loans December 31, 2017 30-59 Days 60-89 Days 90 or More Total Past Current Nonaccrual Total Loans Commercial $ 1,829 $ 85 $ 1,914 $ 137,612 $ 75 $ 139,601 Real estate: Construction 8 8 34,397 34,405 Commercial 2,213 152 $ 150 2,515 516,410 363 519,288 Residential 2,110 551 533 3,194 235,070 1,307 239,571 Consumer 149 60 9 218 14,376 14,594 Total $ 6,309 $ 848 $ 692 $ 7,849 $ 937,865 $ 1,745 $ 947,459 Purchased credit impaired loans 8,512 Total Loans $ 955,971 The following tables summarize information concerning impaired loans as of and for the three months ended March 31, 2018 and 2017, and as of and for the year ended, December 31, 2017 by major loan classification: This Quarter March 31, 2018 Recorded Unpaid Related Average Interest With no related allowance: Commercial $ 1,033 $ 1,033 $ 1,119 $ 353 Real estate: Construction Commercial 8,084 8,084 8,736 1,035 Residential 3,152 3,170 3,252 79 Consumer Total 12,269 12,287 13,107 1,467 With an allowance recorded: Commercial 1,105 1,105 $ 69 442 2 Real estate: Construction Commercial 534 534 78 535 6 Residential 186 324 47 187 2 Consumer Total 1,825 1,963 194 1,164 10 Commercial 2,138 2,138 69 1,561 355 Real estate: Construction Commercial 8,618 8,618 78 9,271 1,041 Residential 3,338 3,494 47 3,439 81 Consumer Total $ 14,094 $ 14,250 $ 194 $ 14,271 $ 1,477 For the Year Ended December 31, 2017 Recorded Unpaid Related Average Interest With no related allowance: Commercial $ 1,107 $ 1,107 $ 1,210 $ 77 Real estate: Construction Commercial 9,399 9,399 10,164 340 Residential 3,197 3,215 2,896 149 Consumer Total 13,703 13,721 14,270 566 With an allowance recorded: Commercial 185 185 $ 56 186 1 Real estate: Construction Commercial 531 531 76 532 23 Residential 340 478 92 339 12 Consumer Total 1,056 1,194 224 1,057 36 Commercial 1,292 1,292 56 1,396 78 Real estate: Construction Commercial 9,930 9,930 76 10,696 363 Residential 3,537 3,693 92 3,235 161 Consumer Total $ 14,759 $ 14,915 $ 224 $ 15,327 $ 602 This Quarter March 31, 2017 Recorded Unpaid Related Average Interest With no related allowance: Commercial $ 730 $ 730 $ $ 767 $ 8 Real estate: Construction Commercial 3,165 3,165 3,230 36 Residential 2,447 2,585 2,641 33 Consumer Total 6,342 6,480 6,638 77 With an allowance recorded: Commercial 120 120 1 122 Real estate: Construction Commercial 867 867 160 709 6 Residential Consumer Total 987 987 161 831 6 Commercial 850 850 1 889 8 Real estate: Construction Commercial 4,032 4,032 160 3,939 42 Residential 2,447 2,585 2,641 33 Consumer Total $ 7,329 $ 7,467 $ 161 $ 7,469 $ 83 For the three months ended March 31, interest income, related to impaired loans, would have been $47 in 2018 and $26 in 2017 had the loans been current and the terms of the loans not been modified. Troubled debt restructured loans are loans with original terms, interest rate, or both, that have been modified as a result of a deterioration in the borrower’s financial condition and a concession has been granted that the Company would not otherwise consider. Unless on nonaccrual, interest income on these loans is recognized when earned, using the interest method. The Company offers a variety of modifications to borrowers that would be considered concessions. The modification categories offered generally fall within the following categories: • Rate Modification—A modification in which the interest rate is changed to a below market rate. • Term Modification—A modification in which the maturity date, timing of payments or frequency of payments is changed. • Interest Only Modification—A modification in which the loan is converted to interest only payments for a period of time. • Payment Modification—A modification in which the dollar amount of the payment is changed, other than an interest only modification described above. • Combination Modification—Any other type of modification, including the use of multiple categories above. Included in the commercial loan and commercial and residential real estate categories are troubled debt restructurings that are classified as impaired. Troubled debt restructurings totaled $5,429 at March 31, 2018, $5,606 at December 31, 2017 and $6,021 at March 31, 2017. The following tables present the number of loans and recorded investment in loans restructured and identified as troubled debt restructurings for the three months ended March 31, 2017, as well as the number and recorded investment in these loans that subsequently defaulted. Defaulted loans are those which are 30 days or more past due for payment under the modified terms. There were no loans restructured as troubled debt restructuring for the three months ended March 31, 2018. March 31, 2017 Number of Pre-Modification Post-Modification Recorded Troubled Debt Restructurings: Residential real estate 1 $ 59 $ 29 $ 29 During 2018, there were no defaults on loans restructured and four defaults on loans restructured totaling $1,229 during 2017. Purchased loans are initially recorded at their acquisition date fair values. The carryover of the allowance for loan losses is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. Fair values for purchased loans are based on a cash flow methodology that involves assumptions and judgments as to credit risk, default rates, loss severity, collateral values, discount rates, payment speeds, and prepayment risk. As part of its acquisition due diligence process, the Bank reviews the acquired institution’s loan grading system and the associated risk rating for loans. In performing this review, the Bank considers cash flows, debt service coverage, delinquency status, accrual status, and collateral for the loan. This process allows the Bank to clearly identify the population of acquired loans that had evidence of deterioration in credit quality since origination and for which it was probable, at acquisition, that the Bank would be unable to collect all contractually required payments. All such loans identified by the Bank are considered to be within the scope of ASC 310-30, As a result of the merger with CBT, effective October 1, 2017, the Bank identified 37 purchased credit impaired (“PCI”) loans. As part of the merger with Citizens, effective December 31, 2015, the Bank identified 10 PCI loans. As a result of the consolidation with Union, effective November 1, 2013, the Bank identified 14 PCI loans. For all PCI loans, the excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the non-accretable non-accretable non-accretable non-accretable For purchased loans that are not deemed impaired at acquisition, credit discounts representing principal losses expected over the life of the loans are a component of the initial fair value, and the discount is accreted to interest income over the life of the asset. Subsequent to the purchase date, the method used to evaluate the sufficiency of the credit discount is similar to originated loans, and if necessary, additional reserves are recognized in the allowance for loan losses. The unpaid principal balances and the related carrying amount of acquired loans as of March 31, 2018 and December 31, 2017 were as follows: March 31, December 31, Credit impaired purchased loans evaluated individually for incurred credit losses: Outstanding balance $ 13,861 $ 16,803 Carrying Amount 7,068 8,512 Other purchased loans evaluated collectively for incurred credit losses: Outstanding balance 405,063 421,620 Carrying Amount 402,084 418,146 Total Purchased Loans: Outstanding balance 418,924 438,423 Carrying Amount $ 409,152 $ 426,658 As of the indicated dates, the changes in the accretable discount related to the purchased credit impaired loans were as follows: Quarter Ended March 31, 2018 2017 Balance—beginning of period $ 2,129 $ 370 Additions Accretion recognized during the period (1,443 ) (23 ) Net reclassification from non-accretable 969 (24 ) Balance—end of period $ 1,655 $ 323 The Company is a party to financial instruments with off-balance Unused commitments at March 31, 2018, totaled $123,691, consisting of $47,834 in commitments to extend credit, $71,162 in unused portions of lines of credit and $4,695 in standby letters of credit. Due to fixed maturity dates, specified conditions within these instruments, and the ultimate needs of our customers, many will expire without being drawn upon. We believe that amounts actually drawn upon can be funded in the normal course of operations and therefore, do not represent a significant liquidity risk to us. In comparison, unused commitments, at December 31, 2017, totaled $129,734, consisting of $52,706 in commitments to extend credit, $72,157 in unused portions of lines of credit and $4,871 in standby letters of credit. |
Other assets
Other assets | 3 Months Ended |
Mar. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other assets | 6. Other assets: The components of other assets at March 31, 2018 and December 31, 2017 are summarized as follows: March 31, December 31, Other real estate owned $ 92 $ 236 Bank owned life insurance 29,256 29,065 Restricted equity securities 1,098 1,306 Deferred tax assets 7,487 7,949 Other assets 5,838 5,147 Total $ 43,771 $ 43,703 |
Fair value estimates
Fair value estimates | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair value estimates | 7. Fair value estimates: The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosure under GAAP. Fair value estimates are calculated without attempting to estimate the value of anticipated future business and the value of certain assets and liabilities that are not considered financial. Accordingly, such assets and liabilities are excluded from disclosure requirements. In accordance with FASB ASC 820, “Fair Value Measurements and Disclosures”, fair value is the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets. In many cases, these values cannot be realized in immediate settlement of the instrument. Current fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction that is not a forced liquidation or distressed sale between participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. In accordance with GAAP, the Company groups its assets and liabilities generally measured at fair value into three levels based on market information or other fair value estimates in which the assets and liabilities are traded or valued and the reliability of the assumptions used to determine fair value. These levels include: • Level 1: Unadjusted quoted prices of identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. • Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. An asset’s or liability’s placement in the fair value hierarchy is based on the lowest level of input that is significant to the fair value estimate. The following methods and assumptions were used by the Company to calculate fair values and related carrying amounts of assets and liabilities measured at fair value on a recurring basis: Investment securities: Assets and liabilities measured at fair value on a recurring basis at March 31, 2018 and December 31, 2017 are summarized as follows: Fair Value Measurement Using March 31, 2018 Amount Quoted Prices in Significant Significant State and Municipals: Taxable $ 34,101 $ 34,101 Tax-exempt 14,911 14,911 Mortgage-backed securities: U.S. Government agencies 21,287 21,287 U.S. Government-sponsored enterprises 9,553 9,553 Corporate debt obligations 8,921 8,921 Total $ 88,773 $ 88,773 Fair Value Measurement Using December 31, 2017 Amount Quoted Prices in Significant Significant State and municipals: Taxable $ 35,002 $ 35,002 Tax-exempt 16,308 16,308 Mortgage-backed securities: U.S. Government agencies 22,817 22,817 U.S. Government-sponsored enterprises 10,089 10,089 Corporate debt obligations 8,985 8,985 Total $ 93,201 $ 93,201 Assets and liabilities measured at fair value on a nonrecurring basis at March 31, 2018 and December 31, 2017 are summarized as follows: Fair Value Measurement Using March 31, 2018 Amount (Level 1) (Level 2) (Level 3) Other real estate owned $ 92 $ 92 Impaired loans, net of related allowance 1,631 1,631 Total $ 1,723 $ 1,723 Fair Value Measurement Using December 31, 2017 Amount (Level 1) (Level 2) (Level 3) Other real estate owned $ 236 $ 236 Impaired loans, net of related allowance 832 832 Total $ 1,068 $ 1,068 Fair values of impaired loans are based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. Fair value of other real estate owned is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. The following tables present additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company utilized Level 3 inputs to determine fair value at March 31, 2018 and December 31, 2017: Quantitative Information about Level 3 Fair Value Measurements March 31, 2018 Fair Value Valuation Techniques Unobservable Input Range Other real estate owned $ 92 Appraisal of collateral Appraisal adjustments 0.0% to 69.0% (33.0)% Liquidation expenses 0.0% to 7.0% (7.0)% Impaired loans $ 1,631 Appraisal of collateral Appraisal adjustments 0.0% to 0.0% (0.0)% Liquidation expenses 7.0% to 20.0% (11.0)% Quantitative Information about Level 3 Fair Value Measurements December 31, 2017 Fair Value Valuation Techniques Unobservable Input Range Other real estate owned $ 236 Appraisal of collateral Appraisal adjustments 0.0% to 69.0% (39.0)% Liquidation expenses 0.0% to 7.0% (7.0)% Impaired loans $ 832 Appraisal of collateral Appraisal adjustments 0.0% to 0.0% (0.0)% Liquidation expenses 0.0% to 7.0% (7.0)% Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 Inputs which are not identifiable. Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. The carrying and fair values of the Company’s financial instruments at March 31, 2018 and December 31, 2017 and their placement within the fair value hierarchy are as follows: Fair Value Hierarchy March 31, 2018 Carrying Fair Value Quoted Prices in Significant Significant Financial assets Cash and cash equivalents $ 59,849 $ 59,849 $ 59,849 Investment securities 88,773 88,773 $ 88,773 Loans held for sale 610 610 610 Net loans (1) 927,675 911,930 $ 911,930 Accrued interest receivable 2,865 2,865 729 2,136 Restricted equity securities 1,098 1,098 1,098 Financial liabilities Deposits $ 1,038,605 $ 1,000,954 $ 1,000,954 Long-term debt 13,160 13,356 13,356 Accrued interest payable 466 466 466 Fair Value Hierarchy December 31, 2017 Carrying Fair Value Quoted Prices in Significant Significant Financial assets Cash and cash equivalents $ 25,786 $ 25,786 $ 25,786 Investment securities available-for-sale 93,201 93,201 $ 93,201 Loans held for sale 254 254 254 Net loans(1) 949,665 954,876 $ 954,876 Accrued interest receivable 3,237 3,237 640 2,597 Restricted equity securities 1,306 1,306 1,306 Financial liabilities Deposits $ 1,026,480 $ 1,022,068 $ 1,022,068 Short-term borrowings 6,000 6,000 6,000 Long-term debt 13,233 14,634 14,634 Accrued interest payable 468 468 468 (1) The carrying amount is net of unearned income and the allowance for loan losses in accordance with the adoption of ASU No. 2016-01where the fair value of loans as of March 31, 2018 was measured using an exit price notion. The fair value of loans at December 31, 2017 was measured using an entry price notion. |
Revenue recognition
Revenue recognition | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue recognition | Note 8. Revenue recognition: On January 1, 2018, the Company adopted ASU No. 2014-09 Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, derivatives, and certain credit card fees are also not in scope of the new guidance. Topic 606 is applicable to noninterest revenue streams such as trust and asset management income, deposit related fees, interchange fees, merchant income, and other fees. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest revenue streams in-scope Service Charges, Fees and Commissions Service charges on deposit accounts consist of monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. Fees, exchange, and other service charges are primarily comprised of debit and credit card income, ATM fees, merchant services income, and other service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as Mastercard. Such income is presented net of network expenses as the Company acts as an agent in these transactions. ATM fees are primarily generated when a Company cardholder uses a non-Company non-Company Other noninterest income consists of other recurring revenue streams such as commissions from sales of mutual funds and other investments, investment advisor fees from wealth management products, safety deposit box rental fees, and other miscellaneous revenue streams. Commissions from the sale of mutual funds and other investments are recognized on trade date, which is when the Company has satisfied its performance obligation. The Company also receives periodic service fees or trailers from mutual fund companies typically based on a percentage of net asset value. Trailer revenue is recorded over time, usually monthly or quarterly, as net asset value is determined. Investment advisor fees from wealth management products is earned over time and based on an annual percentage rate of the net asset value. The investment advisor fees are charged to the customer’s account in advance on the first month of the quarter, and the revenue is recognized over the following three-month period. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. Trust and Asset Management Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end The following presents noninterest income, segregated by revenue streams in-scope out-of-scope March 31, 2018 2017 Noninterest Income: In-scope Service charges, fees and commissions $ 1,228 $ 337 Trust and asset management 364 288 Noninterest income (in-scope 1,592 625 Noninterest income (out-of-scope 361 154 Total noninterest income $ 1,953 $ 779 Contract Balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration, resulting in a contract receivable, or before payment is due, resulting in a contract asset. A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end month-end Contract Acquisition Costs In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained, for example, sales commission. The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. Upon adoption of Topic 606, the Company did not capitalize any contract acquisition cost. |
Summary of significant accoun16
Summary of significant accounting policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations Riverview Financial Corporation, (the “Company” or “Riverview”), a bank holding company incorporated under the laws of Pennsylvania, provides a full range of financial services through its wholly-owned subsidiary, Riverview Bank (the “Bank”). On October 2, 2017, the Company announced the completion of its merger of equals with CBT Financial Corp. (“CBT”), effective October 1, 2017 pursuant to the Agreement and Plan of Merger between Riverview and CBT, dated April 19, 2017. On the effective date, CBT was merged with and into Riverview, with Riverview surviving (the “merger”). Additionally, CBT Bank, the wholly-owned subsidiary of CBT, merged with and into Riverview Bank, the wholly-owned subsidiary of Riverview, with Riverview Bank as the surviving institution. The Company’s financial results reflect the merger of CBT Bank with and into Riverview Bank under the purchase method of accounting, with the Company treated as the acquirer from accounting and reporting purposes. As a result, the historical financial information included in the Company’s consolidated financial statements and related notes as reported in this Form 10-Q Riverview Bank, with 30 full service offices and three limited purpose offices, is a full service commercial bank offering a wide range of traditional banking services and financial advisory, insurance and investment services to individuals, municipalities and small to medium sized businesses in the Pennsylvania market areas of Berks, Blaire, Centre, Clearfield, Dauphin, Huntingdon, Lebanon, Lycoming, Northumberland, Perry, Schuylkill and Somerset Counties in Pennsylvania. |
Basis of presentation | Basis of presentation: The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP’) for interim financial information and with the instructions to Form 10-Q Regulation S-X. 10-K, The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates that are particularly susceptible to material change in the near term relate to the determination of the allowance for loan losses, fair value of financial instruments, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, the valuation of deferred tax assets, the determination of other-than-temporary impairment losses on securities and impairment of goodwill. Actual results could differ from those estimates. |
Recent Accounting Standards | Recent Accounting Standards In January 2016, the Financial Accounting Standards Board, (“FASB”) issued ASU No. 2016-01, available-for-sale 2016-01 In February 2016, the FASB issued ASU No. 2016-02, 2016-02, right-of-use 2016-02 In June 2016, the FASB ASU No. 2016-13, 2016-13 requires 2016-13 available-for-sale In August 2016, the FASB issued ASU No. 2016-15, In December 2016, the FASB issued ASU No. 2016-20, ASU 2016-20 ASU 2014-09, 2014-09 2014-09 ASU 2016-20 2014-09 In January 2017, FASB issued ASU No. 2017-01, No. 2017-01 In January 2017, the FASB issued ASU No. 2017-03, 2014-09, 2016-02 2016-13 2014-01, In January 2017, FASB issued ASU No. 2017-04, In February 2017, the FASB issued ASU No. 2017-05, No. 2017-05 In March 2017, the FASB issued ASU No. 2017-07, No. 2017-07 In March 2017, FASB issued ASU No. 2017-08, 2017-08 In May 2017, the FASB issued ASU No. 2017-09, No. 2017-09 In August 2017, FASB issued ASU No. 2017-12, In September 2017, the FASB issued ASU No. 2017-13, No. 2014-09, No. 2016-02, 2017-13 In November 2017, the FASB issued ASU No. 2017-14 No. 33-10403, No. 2017-14 In February 2018, the FASB issued ASU No. 2018-02, No. 2018-02 In February 2018, the FASB issued ASU No. 2018-03, 825-10): No. 2016-01, No. 2018-03 In March 2018, the FASB has issued ASU No. 2018-05, No. 2018-05 |
Other comprehensive income (l17
Other comprehensive income (loss) (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Summary of Components of Accumulated Other Comprehensive Income (Loss) | The components of accumulated other comprehensive income (loss) included in stockholders’ equity at March 31, 2018 and December 31, 2017 is as follows: March 31, December 31, Net unrealized loss on investment securities available-for-sale $ (2,206 ) $ (1,131 ) Related income taxes (463 ) (238 ) Net of income taxes (1,743 ) (893 ) Benefit plan adjustments (869 ) (869 ) Related income taxes (183 ) (183 ) Net of income taxes (686 ) (686 ) Accumulated other comprehensive income (loss) $ (2,429 ) $ (1,579 ) |
Schedule of Other Comprehensive Income (Loss) and Related Tax Effects | Other comprehensive income (loss) and related tax effects for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, 2018 2017 Unrealized loss on investment securities available-for-sale $ (1,075 ) $ 512 Net gain on the sale of investment securities available-for-sale (1) 1 Other comprehensive loss before taxes (1,075 ) 513 Income tax expense (benefit) (225 ) 174 Other comprehensive loss $ (850 ) $ 339 (1) Represents amounts reclassified out of accumulated other comprehensive income and included in gains on sale of investment securities on the consolidated statements of income and comprehensive income. |
Earnings per share (Tables)
Earnings per share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Computation of Earnings per Share | The following table provides a reconciliation between the computation of basic earnings per share and diluted earnings per share for the three months ended March 31, 2018 and 2017: Three months ended March 31, 2018 2017 Numerator: Net income (loss) $ 2,811 $ (567 ) Dividends on preferred stock (185 ) Net income (loss) available to common stockholders $ 2,811 $ (752 ) Undistributed loss allocated to preferred stockholders 347 Income (loss) allocated to common stockholders $ 2,811 $ (405 ) Denominator: Basic 9,079,043 3,454,704 Dilutive options 58,663 Diluted 9,137,706 3,454,704 Earnings per share: Basic $ 0.31 $ (0.12 ) Diluted $ 0.31 $ (0.12 ) |
Investment securities (Tables)
Investment securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Amortized Cost and Fair Value of Investment Securities Available-for-Sale Aggregated by Investment Category | The amortized cost and fair value of investment securities available-for-sale March 31, 2018 Amortized Gross Gross Fair State and municipals: Taxable $ 35,153 $ 219 $ 1,271 $ 34,101 Tax-exempt 15,141 5 235 14,911 Mortgage-backed securities: U.S. Government agencies 21,291 50 54 21,287 U.S. Government-sponsored enterprises 9,868 12 327 9,553 Corporate debt obligations 9,526 605 8,921 Total $ 90,979 $ 286 $ 2,492 $ 88,773 December 31, 2017 Amortized Gross Gross Fair State and municipals: Taxable $ 35,352 $ 334 $ 684 $ 35,002 Tax-exempt 16,325 47 64 16,308 Mortgage-backed securities: U.S. Government agencies 22,908 3 94 22,817 U.S. Government-sponsored enterprises 10,218 19 148 10,089 Corporate debt obligations 9,529 544 8,985 Total $ 94,332 $ 403 $ 1,534 $ 93,201 |
Schedule of Debt Securities Classified Available-for-Sale Maturity Distribution of Fair Value | The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available-for-sale March 31, 2018 Fair Within one year $ 2,823 After one but within five years 6,203 After five but within ten years 12,566 After ten years 36,341 57,933 Mortgage-backed securities 30,840 Total $ 88,773 |
Schedule of Fair Value Gross Unrealized Losses of Investment Securities Unrealized Losses | The fair value and gross unrealized losses of investment securities with unrealized losses for which an other-than-temporary impairment (“OTTI”) has not been recognized at March 31, 2018 and December 31, 2017, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, are summarized as follows: Less Than 12 Months 12 Months or More Total March 31, 2018 Fair Unrealized Fair Unrealized Fair Unrealized State and municipals: Taxable $ 6,699 $ 97 $ 19,628 $ 1,174 $ 26,327 $ 1,271 Tax-exempt 13,835 235 13,835 235 Mortgage-backed securities: U.S. Government agencies 3,095 48 158 6 3,253 54 U.S. Government-sponsored enterprises 4,042 92 3,952 235 7,994 327 Corporate debt obligation 8,921 605 8,921 605 Total $ 27,671 $ 472 $ 32,659 $ 2,020 $ 60,330 $ 2,492 Less Than 12 Months 12 Months or More Total December 31, 2017 Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government-sponsored enterprises State and municipals: Taxable $ 4,757 $ 30 $ 20,185 $ 654 $ 24,942 $ 684 Tax-exempt 10,506 64 10,506 64 Mortgage-backed securities: U.S. Government agencies 16,746 87 193 7 16,939 94 U.S. Government-sponsored enterprises 4,294 23 4,174 125 8,468 148 Corporate debt obligation 3,800 200 5,185 344 8,985 544 Total $ 40,103 $ 404 $ 29,737 $ 1,130 $ 69,840 $ 1,534 |
Loans, net and allowance for 20
Loans, net and allowance for loan losses (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Loans Outstanding | The major classifications of loans outstanding, net of deferred loan origination fees and costs at March 31, 2018 and December 31, 2017 are summarized as follows. Net deferred loan costs were $891 and $863 at March 31, 2018 and December 31, 2017. March 31, December 31, Commercial $ 135,049 $ 140,116 Real estate: Construction 33,209 34,405 Commercial 516,333 526,230 Residential 236,390 240,626 Consumer 13,209 14,594 Total $ 934,190 $ 955,971 |
Schedule of Allowance for Loan Losses Account by Major Classification of Loan | The changes in the allowance for loan losses account by major classification of loan for the three months ended March 31, 2018 and 2017 are summarized as follows: Real Estate March 31, 2018 Commercial Construction Commercial Residential Consumer Unallocated Total Allowance for loan losses: Beginning Balance January 1, 2018 $ 1,206 $ 379 $ 2,963 $ 1,340 $ 37 $ 381 $ 6,306 Charge-offs (77 ) (50 ) (99 ) (226 ) Recoveries 3 22 1 39 45 Provisions (316 ) 5 493 (112 ) 55 265 390 Ending balance $ 816 $ 384 $ 3,458 $ 1,179 $ 32 $ 646 $ 6,515 Real Estate March 31, 2017 Commercial Construction Commercial Residential Consumer Unallocated Total Allowance for loan losses: Beginning Balance January 1, 2017 $ 629 $ 160 $ 2,110 $ 789 $ 44 $ 3,732 Charge-offs (7 ) (5 ) (12 ) Recoveries 3 2 1 4 Provisions (4 ) 432 38 15 $ 124 605 Ending balance $ 625 $ 160 $ 2,545 $ 821 $ 54 $ 124 $ 4,329 The allocation of the allowance for loan losses and the related loans by major classifications of loans at March 31, 2018 and December 31, 2017 is summarized as follows: Real Estate March 31, 2018 Commercial Construction Commercial Residential Consumer Unallocated Total Allowance for loan losses: Ending balance $ 816 $ 384 $ 3,458 $ 1,179 $ 32 $ 646 $ 6,515 Ending balance: individually evaluated for impairment 69 78 47 194 Ending balance: collectively evaluated for impairment 747 384 3,380 1,132 32 646 6,321 Ending balance: purchased credit impaired loans $ $ $ $ $ $ $ Loans receivable: Ending balance $ 135,049 $ 33,209 $ 516,333 $ 236,390 $ 13,209 $ $ 934,190 Ending balance: individually evaluated for impairment 1,693 2,919 2,414 7,026 Ending balance: collectively evaluated for impairment 132,912 33,209 507,714 233,052 13,209 920,096 Ending balance: purchased credit impaired loans $ 444 $ $ 5,700 $ 924 $ $ $ 7,068 Real Estate December 31, 2017 Commercial Construction Commercial Residential Consumer Unallocated Total Allowance for loan losses: Ending balance $ 1,206 $ 379 $ 2,963 $ 1,340 $ 37 $ 381 $ 6,306 Ending balance: individually evaluated for impairment 56 76 92 224 Ending balance: collectively evaluated for impairment 1,150 379 2,887 1,248 37 381 6,082 Ending balance: purchased credit impaired loans $ $ $ $ $ $ $ Loans receivable: Ending balance $ 140,116 $ 34,405 $ 526,230 $ 240,626 $ 14,594 $ $ 955,971 Ending balance: individually evaluated for impairment 777 2,988 2,482 6,247 Ending balance: collectively evaluated for impairment 138,824 34,405 516,300 237,089 14,594 941,212 Ending balance: purchased credit impaired loans $ 515 $ $ 6,942 $ 1,055 $ $ $ 8,512 |
Summary of Major Classification of Loans Summarized by Aggregate Pass Rating | The following tables present the major classification of loans summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company’s internal risk rating system at March 31, 2018 and December 31, 2017: March 31, 2018 Pass Special Substandard Doubtful Total Commercial $ 121,929 $ 8,623 $ 4,497 $ 135,049 Real estate: Construction 32,028 1,058 123 33,209 Commercial 489,204 11,724 15,405 516,333 Residential 230,320 2,187 3,883 236,390 Consumer 13,111 98 13,209 Total $ 886,592 $ 23,690 $ 23,908 $ 934,190 December 31, 2017 Pass Special Substandard Doubtful Total Commercial $ 126,506 $ 9,372 $ 4,238 $ 140,116 Real estate: Construction 32,840 1,442 123 34,405 Commercial 497,852 15,305 13,073 526,230 Residential 234,808 2,214 3,604 240,626 Consumer 14,474 120 14,594 Total $ 906,480 $ 28,453 $ 21,038 $ 955,971 |
Summary of Classes of Loan Portfolio Summarized by Aging Categories of Performing Loans and Nonaccrual Loans | The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of March 31, 2018 and December 31, 2017. Purchase credit impaired (“PCI”) loans are excluded from the aging and nonaccrual loan schedules. Accrual Loans March 31, 2018 30-59 Days 60-89 Days 90 or More Total Past Current Nonaccrual Total Loans Commercial $ 864 $ 23 $ 887 $ 132,723 $ 995 $ 134,605 Real estate: Construction 14 14 33,195 33,209 Commercial 1,767 60 $ 150 1,977 508,309 347 510,633 Residential 2,121 231 234 2,586 231,598 1,282 235,466 Consumer 125 19 9 153 13,056 13,209 Total $ 4,891 $ 333 $ 393 $ 5,617 $ 918,881 $ 2,624 $ 927,122 Purchased credit impaired loans 7,068 Total Loans $ 934,190 Accrual Loans December 31, 2017 30-59 Days 60-89 Days 90 or More Total Past Current Nonaccrual Total Loans Commercial $ 1,829 $ 85 $ 1,914 $ 137,612 $ 75 $ 139,601 Real estate: Construction 8 8 34,397 34,405 Commercial 2,213 152 $ 150 2,515 516,410 363 519,288 Residential 2,110 551 533 3,194 235,070 1,307 239,571 Consumer 149 60 9 218 14,376 14,594 Total $ 6,309 $ 848 $ 692 $ 7,849 $ 937,865 $ 1,745 $ 947,459 Purchased credit impaired loans 8,512 Total Loans $ 955,971 |
Schedule of Information Concerning Impaired Loans | The following tables summarize information concerning impaired loans as of and for the three months ended March 31, 2018 and 2017, and as of and for the year ended, December 31, 2017 by major loan classification: This Quarter March 31, 2018 Recorded Unpaid Related Average Interest With no related allowance: Commercial $ 1,033 $ 1,033 $ 1,119 $ 353 Real estate: Construction Commercial 8,084 8,084 8,736 1,035 Residential 3,152 3,170 3,252 79 Consumer Total 12,269 12,287 13,107 1,467 With an allowance recorded: Commercial 1,105 1,105 $ 69 442 2 Real estate: Construction Commercial 534 534 78 535 6 Residential 186 324 47 187 2 Consumer Total 1,825 1,963 194 1,164 10 Commercial 2,138 2,138 69 1,561 355 Real estate: Construction Commercial 8,618 8,618 78 9,271 1,041 Residential 3,338 3,494 47 3,439 81 Consumer Total $ 14,094 $ 14,250 $ 194 $ 14,271 $ 1,477 For the Year Ended December 31, 2017 Recorded Unpaid Related Average Interest With no related allowance: Commercial $ 1,107 $ 1,107 $ 1,210 $ 77 Real estate: Construction Commercial 9,399 9,399 10,164 340 Residential 3,197 3,215 2,896 149 Consumer Total 13,703 13,721 14,270 566 With an allowance recorded: Commercial 185 185 $ 56 186 1 Real estate: Construction Commercial 531 531 76 532 23 Residential 340 478 92 339 12 Consumer Total 1,056 1,194 224 1,057 36 Commercial 1,292 1,292 56 1,396 78 Real estate: Construction Commercial 9,930 9,930 76 10,696 363 Residential 3,537 3,693 92 3,235 161 Consumer Total $ 14,759 $ 14,915 $ 224 $ 15,327 $ 602 This Quarter March 31, 2017 Recorded Unpaid Related Average Interest With no related allowance: Commercial $ 730 $ 730 $ $ 767 $ 8 Real estate: Construction Commercial 3,165 3,165 3,230 36 Residential 2,447 2,585 2,641 33 Consumer Total 6,342 6,480 6,638 77 With an allowance recorded: Commercial 120 120 1 122 Real estate: Construction Commercial 867 867 160 709 6 Residential Consumer Total 987 987 161 831 6 Commercial 850 850 1 889 8 Real estate: Construction Commercial 4,032 4,032 160 3,939 42 Residential 2,447 2,585 2,641 33 Consumer Total $ 7,329 $ 7,467 $ 161 $ 7,469 $ 83 |
Schedule of Number of Loans and Recorded Investment in Troubled Debt Restructurings | The following tables present the number of loans and recorded investment in loans restructured and identified as troubled debt restructurings for the three months ended March 31, 2017, as well as the number and recorded investment in these loans that subsequently defaulted. Defaulted loans are those which are 30 days or more past due for payment under the modified terms. There were no loans restructured as troubled debt restructuring for the three months ended March 31, 2018. March 31, 2017 Number of Pre-Modification Post-Modification Recorded Troubled Debt Restructurings: Residential real estate 1 $ 59 $ 29 $ 29 |
Summary of Unpaid Principal Balances and Related Carrying Amounts of Union Acquired Loans | The unpaid principal balances and the related carrying amount of acquired loans as of March 31, 2018 and December 31, 2017 were as follows: March 31, December 31, Credit impaired purchased loans evaluated individually for incurred credit losses: Outstanding balance $ 13,861 $ 16,803 Carrying Amount 7,068 8,512 Other purchased loans evaluated collectively for incurred credit losses: Outstanding balance 405,063 421,620 Carrying Amount 402,084 418,146 Total Purchased Loans: Outstanding balance 418,924 438,423 Carrying Amount $ 409,152 $ 426,658 |
Summary of Changes in Accretable Discount Related to Purchased Credit Impaired Loans | As of the indicated dates, the changes in the accretable discount related to the purchased credit impaired loans were as follows: Quarter Ended March 31, 2018 2017 Balance—beginning of period $ 2,129 $ 370 Additions Accretion recognized during the period (1,443 ) (23 ) Net reclassification from non-accretable 969 (24 ) Balance—end of period $ 1,655 $ 323 |
Other assets (Tables)
Other assets (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Components of Other Assets | The components of other assets at March 31, 2018 and December 31, 2017 are summarized as follows: March 31, December 31, Other real estate owned $ 92 $ 236 Bank owned life insurance 29,256 29,065 Restricted equity securities 1,098 1,306 Deferred tax assets 7,487 7,949 Other assets 5,838 5,147 Total $ 43,771 $ 43,703 |
Fair value estimates (Tables)
Fair value estimates (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis at March 31, 2018 and December 31, 2017 are summarized as follows: Fair Value Measurement Using March 31, 2018 Amount Quoted Prices in Significant Significant State and Municipals: Taxable $ 34,101 $ 34,101 Tax-exempt 14,911 14,911 Mortgage-backed securities: U.S. Government agencies 21,287 21,287 U.S. Government-sponsored enterprises 9,553 9,553 Corporate debt obligations 8,921 8,921 Total $ 88,773 $ 88,773 Fair Value Measurement Using December 31, 2017 Amount Quoted Prices in Significant Significant State and municipals: Taxable $ 35,002 $ 35,002 Tax-exempt 16,308 16,308 Mortgage-backed securities: U.S. Government agencies 22,817 22,817 U.S. Government-sponsored enterprises 10,089 10,089 Corporate debt obligations 8,985 8,985 Total $ 93,201 $ 93,201 |
Summary of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | Assets and liabilities measured at fair value on a nonrecurring basis at March 31, 2018 and December 31, 2017 are summarized as follows: Fair Value Measurement Using March 31, 2018 Amount (Level 1) (Level 2) (Level 3) Other real estate owned $ 92 $ 92 Impaired loans, net of related allowance 1,631 1,631 Total $ 1,723 $ 1,723 Fair Value Measurement Using December 31, 2017 Amount (Level 1) (Level 2) (Level 3) Other real estate owned $ 236 $ 236 Impaired loans, net of related allowance 832 832 Total $ 1,068 $ 1,068 |
Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis | The following tables present additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company utilized Level 3 inputs to determine fair value at March 31, 2018 and December 31, 2017: Quantitative Information about Level 3 Fair Value Measurements March 31, 2018 Fair Value Valuation Techniques Unobservable Input Range Other real estate owned $ 92 Appraisal of collateral Appraisal adjustments 0.0% to 69.0% (33.0)% Liquidation expenses 0.0% to 7.0% (7.0)% Impaired loans $ 1,631 Appraisal of collateral Appraisal adjustments 0.0% to 0.0% (0.0)% Liquidation expenses 7.0% to 20.0% (11.0)% Quantitative Information about Level 3 Fair Value Measurements December 31, 2017 Fair Value Valuation Techniques Unobservable Input Range Other real estate owned $ 236 Appraisal of collateral Appraisal adjustments 0.0% to 69.0% (39.0)% Liquidation expenses 0.0% to 7.0% (7.0)% Impaired loans $ 832 Appraisal of collateral Appraisal adjustments 0.0% to 0.0% (0.0)% Liquidation expenses 0.0% to 7.0% (7.0)% |
Carrying and Fair Values of Riverview's Financial Instruments | The carrying and fair values of the Company’s financial instruments at March 31, 2018 and December 31, 2017 and their placement within the fair value hierarchy are as follows: Fair Value Hierarchy March 31, 2018 Carrying Fair Value Quoted Prices in Significant Significant Financial assets Cash and cash equivalents $ 59,849 $ 59,849 $ 59,849 Investment securities 88,773 88,773 $ 88,773 Loans held for sale 610 610 610 Net loans (1) 927,675 911,930 $ 911,930 Accrued interest receivable 2,865 2,865 729 2,136 Restricted equity securities 1,098 1,098 1,098 Financial liabilities Deposits $ 1,038,605 $ 1,000,954 $ 1,000,954 Long-term debt 13,160 13,356 13,356 Accrued interest payable 466 466 466 Fair Value Hierarchy December 31, 2017 Carrying Fair Value Quoted Prices in Significant Significant Financial assets Cash and cash equivalents $ 25,786 $ 25,786 $ 25,786 Investment securities available-for-sale 93,201 93,201 $ 93,201 Loans held for sale 254 254 254 Net loans(1) 949,665 954,876 $ 954,876 Accrued interest receivable 3,237 3,237 640 2,597 Restricted equity securities 1,306 1,306 1,306 Financial liabilities Deposits $ 1,026,480 $ 1,022,068 $ 1,022,068 Short-term borrowings 6,000 6,000 6,000 Long-term debt 13,233 14,634 14,634 Accrued interest payable 468 468 468 (1) The carrying amount is net of unearned income and the allowance for loan losses in accordance with the adoption of ASU No. 2016-01where the fair value of loans as of March 31, 2018 was measured using an exit price notion. The fair value of loans at December 31, 2017 was measured using an entry price notion. |
Revenue recognition (Tables)
Revenue recognition (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Summary of Noninterest Income, Segregated by Revenue Streams in-Scope and Out-of-Scope of Topic 606 | The following presents noninterest income, segregated by revenue streams in-scope out-of-scope March 31, 2018 2017 Noninterest Income: In-scope Service charges, fees and commissions $ 1,228 $ 337 Trust and asset management 364 288 Noninterest income (in-scope 1,592 625 Noninterest income (out-of-scope 361 154 Total noninterest income $ 1,953 $ 779 |
Summary of Significant Accoun24
Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands | Oct. 01, 2017 | Mar. 31, 2018Office | Dec. 31, 2017USD ($) |
Summary Of Significant Accounting Policies [Line Items] | |||
Number of full service offices | Office | 30 | ||
Number of limited purpose offices | Office | 3 | ||
Retained Earnings [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Tax Cuts and Jobs Act reclassification from other comprehensive income to retained earnings | $ | $ 259 | ||
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Tax Cuts and Jobs Act reclassification from other comprehensive income to retained earnings | $ | $ (259) | ||
CBT Financial Corp [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Business combination agreement date | Apr. 19, 2017 | ||
Business combination effective date | Oct. 1, 2017 |
Other comprehensive income (l25
Other comprehensive income (loss) - Summary of Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Related income taxes | $ (225) | $ 174 | |
Other comprehensive income (loss), net of income taxes | (850) | $ 339 | |
Accumulated other comprehensive income (loss) | (2,429) | $ (1,579) | |
Unrealized Losses on Available-for-Sale [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Benefit plan adjustments | (2,206) | (1,131) | |
Related income taxes | (463) | (238) | |
Other comprehensive income (loss), net of income taxes | (1,743) | (893) | |
Defined Benefit Pension Items [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Benefit plan adjustments | (869) | (869) | |
Related income taxes | (183) | (183) | |
Other comprehensive income (loss), net of income taxes | $ (686) | $ (686) |
Other comprehensive income (l26
Other comprehensive income (loss) - Schedule of Other Comprehensive Income (Loss) and Related Tax Effects (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Other Comprehensive Income (Loss), Tax [Abstract] | ||
Unrealized loss on investment securities available-for-sale | $ (1,075) | $ 512 |
Net gain on the sale of investment securities available-for-sale | 1 | |
Other comprehensive loss before taxes | (1,075) | 513 |
Income tax expense (benefit) | (225) | 174 |
Other comprehensive loss | $ (850) | $ 339 |
Earnings per share - Computatio
Earnings per share - Computation of Earnings per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Numerator: | ||
Net income (loss) | $ 2,811 | $ (567) |
Dividends on preferred stock | (185) | |
Net income (loss) available to common stockholders | 2,811 | (752) |
Undistributed loss allocated to preferred stockholders | 347 | |
Income (loss) allocated to common stockholders | $ 2,811 | $ (405) |
Denominator: | ||
Basic | 9,079,043 | 3,454,704 |
Dilutive options | 58,663 | |
Diluted | 9,137,706 | 3,454,704 |
Basic | $ 0.31 | $ (0.12) |
Diluted | $ 0.31 | $ (0.12) |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | Jan. 20, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 |
Earnings Per Share [Line Items] | ||||
Average outstanding stock options excluded from diluted earnings per share | 0 | 43,000 | ||
Common stock, no par value | ||||
Shares issued | 269,885 | |||
Private Placement [Member] | ||||
Earnings Per Share [Line Items] | ||||
Sale of common and preferred equity | $ 17 | |||
Common stock, no par value | ||||
Private Placement [Member] | Common Stock [Member] | ||||
Earnings Per Share [Line Items] | ||||
Shares issued | 269,885 | |||
Stock price per share | $ 10.50 | |||
Private Placement [Member] | Convertible Perpetual Stock [Member] | ||||
Earnings Per Share [Line Items] | ||||
Shares issued | 1,348,809 | |||
Stock price per share | $ 10.50 |
Investment Securities - Schedul
Investment Securities - Schedule of Amortized Cost and Fair Value of Investment Securities Available-for-Sale Aggregated by Investment Category (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 90,979 | $ 94,332 |
Gross Unrealized Gains | 286 | 403 |
Gross Unrealized Losses | 2,492 | 1,534 |
Fair Value | 88,773 | 93,201 |
Taxable [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 35,153 | 35,352 |
Gross Unrealized Gains | 219 | 334 |
Gross Unrealized Losses | 1,271 | 684 |
Fair Value | 34,101 | 35,002 |
Tax-Exempt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 15,141 | 16,325 |
Gross Unrealized Gains | 5 | 47 |
Gross Unrealized Losses | 235 | 64 |
Fair Value | 14,911 | 16,308 |
Mortgage-Backed Securities - U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 21,291 | 22,908 |
Gross Unrealized Gains | 50 | 3 |
Gross Unrealized Losses | 54 | 94 |
Fair Value | 21,287 | 22,817 |
Mortgage-backed Securities - U.S. Government-sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 9,868 | 10,218 |
Gross Unrealized Gains | 12 | 19 |
Gross Unrealized Losses | 327 | 148 |
Fair Value | 9,553 | 10,089 |
Corporate Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 9,526 | 9,529 |
Gross Unrealized Losses | 605 | 544 |
Fair Value | $ 8,921 | $ 8,985 |
Investment Securities - Sched30
Investment Securities - Schedule of Debt Securities Classified Available-for-Sale Maturity Distribution of Fair Value (Detail) $ in Thousands | Mar. 31, 2018USD ($) |
Schedule of Available-for-sale Securities [Line Items] | |
Available-for-sale securities, Within one year, Fair Value | $ 2,823 |
Available-for-sale securities, After one but within five years, Fair Value | 6,203 |
Available-for-sale securities, After five but within ten years, Fair Value | 12,566 |
Available-for-sale securities, After ten years, Fair Value | 36,341 |
Available-for-sale securities, Single maturity, Fair Value | 57,933 |
Total available-for-sale securities, Fair Value | 88,773 |
Mortgage-Backed Securities [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Available-for-sale securities, Without single maturity, Fair Value | $ 30,840 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 3 Months Ended | ||
Mar. 31, 2018USD ($)Securities | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($)Securities | |
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale securities pledged as collateral, carrying value | $ | $ 52,729,000 | $ 93,201,000 | |
Available-for-sale securities in unrealized loss position, number of securities | 87 | 88 | |
Other than temporary impairment losses | $ | $ 0 | $ 0 | |
Taxable [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale securities in unrealized loss position, number of securities | 68 | 34 | |
Available-for-sale securities in unrealized loss position for twelve months or more, number of securities | 25 | 25 | |
Tax-Exempt [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale securities in unrealized loss position, number of securities | 21 | ||
Mortgage-Backed Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale securities in unrealized loss position, number of securities | 15 | 29 | |
Available-for-sale securities in unrealized loss position for twelve months or more, number of securities | 5 | 5 | |
Corporate Debt Obligations [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale securities in unrealized loss position, number of securities | 4 | 4 | |
Available-for-sale securities in unrealized loss position for twelve months or more, number of securities | 4 | 2 |
Investment Securities - Sched32
Investment Securities - Schedule of Fair Value Gross Unrealized Losses of Investment Securities Unrealized Losses (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | $ 27,671 | $ 40,103 |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 472 | 404 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | 32,659 | 29,737 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | 2,020 | 1,130 |
Available-for-sale securities in a continuous loss position, Fair Value | 60,330 | 69,840 |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 2,492 | 1,534 |
Taxable [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 6,699 | 4,757 |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 97 | 30 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | 19,628 | 20,185 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | 1,174 | 654 |
Available-for-sale securities in a continuous loss position, Fair Value | 26,327 | 24,942 |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 1,271 | 684 |
Tax-Exempt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 13,835 | 10,506 |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 235 | 64 |
Available-for-sale securities in a continuous loss position, Fair Value | 13,835 | 10,506 |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 235 | 64 |
Mortgage-Backed Securities - U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 3,095 | 16,746 |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 48 | 87 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | 158 | 193 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | 6 | 7 |
Available-for-sale securities in a continuous loss position, Fair Value | 3,253 | 16,939 |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 54 | 94 |
Mortgage-backed Securities - U.S. Government-sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 4,042 | 4,294 |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 92 | 23 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | 3,952 | 4,174 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | 235 | 125 |
Available-for-sale securities in a continuous loss position, Fair Value | 7,994 | 8,468 |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 327 | 148 |
Corporate Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 3,800 | |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 200 | |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | 8,921 | 5,185 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | 605 | 344 |
Available-for-sale securities in a continuous loss position, Fair Value | 8,921 | 8,985 |
Available-for-sale securities in a continuous loss position, Unrealized Losses | $ 605 | $ 544 |
Loans, Net and Allowance for 33
Loans, Net and Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018USD ($)Contract | Dec. 31, 2017USD ($)Contract | Oct. 01, 2017Loan | Mar. 31, 2017USD ($) | Dec. 31, 2015Loan | Nov. 01, 2013Loan | |
Financing Receivable, Impaired [Line Items] | ||||||
Deferred loan fees, net | $ 891 | $ 863 | ||||
Interest income, related to impaired loans | 47 | 26 | ||||
Troubled debt restructurings, amount | $ 5,429 | $ 5,606 | $ 6,021 | |||
Subsequently defaulted number of contracts | Contract | 0 | 4 | ||||
Financing receivable modifications subsequent default recorded investment | $ 1,229 | |||||
Unused Commitments | $ 123,691 | 129,734 | ||||
Commitment to Extend Credit [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Unused Commitments | 47,834 | 52,706 | ||||
Unused Portions of Lines of Credit [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Unused Commitments | 71,162 | 72,157 | ||||
Financial Standby Letter of Credit [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Unused Commitments | $ 4,695 | $ 4,871 | ||||
Union Bank [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Purchased credit impaired loans | Loan | 10 | |||||
Citizens National Bank of Meyersdale [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Purchased credit impaired loans | Loan | 14 | |||||
CBT Financial Corp [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Purchased credit impaired loans | Loan | 37 | |||||
Real Estate Residential [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Troubled Debt Restructurings, Number of Contracts | Contract | 0 |
Loans, Net and Allowance for 34
Loans, Net and Allowance for Loan Losses - Schedule of Loans Outstanding (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Receivables [Abstract] | ||
Commercial | $ 135,049 | $ 140,116 |
Construction | 33,209 | 34,405 |
Commercial | 516,333 | 526,230 |
Residential | 236,390 | 240,626 |
Consumer | 13,209 | 14,594 |
Total | $ 934,190 | $ 955,971 |
Loans, Net and Allowance for 35
Loans, Net and Allowance for Loan Losses - Schedule of Allowance for Loan Losses Account by Major Classification of Loan (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Beginning balance | $ 6,306 | $ 3,732 | |
Allowance for Loan Losses, Charge-offs | (226) | (12) | |
Allowance for Loan Losses, Recoveries | 45 | 4 | |
Allowance for Loan Losses, Provision | 390 | 605 | |
Allowance for Loan Losses, Ending balance | 6,515 | 4,329 | |
Ending balance: individually evaluated for impairment | 194 | $ 224 | |
Ending balance: collectively evaluated for impairment | 6,321 | 6,082 | |
Ending balance: purchased credit impaired loans | 0 | 0 | |
Ending balance | 934,190 | 955,971 | |
Ending balance: individually evaluated for impairment | 7,026 | 6,247 | |
Ending balance: collectively evaluated for impairment | 920,096 | 941,212 | |
Ending balance: purchased credit impaired loans | 7,068 | 8,512 | |
Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Beginning balance | 1,206 | 629 | |
Allowance for Loan Losses, Charge-offs | (77) | ||
Allowance for Loan Losses, Recoveries | 3 | ||
Allowance for Loan Losses, Provision | (316) | (4) | |
Allowance for Loan Losses, Ending balance | 816 | 625 | |
Ending balance: individually evaluated for impairment | 69 | 56 | |
Ending balance: collectively evaluated for impairment | 747 | 1,150 | |
Ending balance: purchased credit impaired loans | 0 | 0 | |
Ending balance | 135,049 | 140,116 | |
Ending balance: individually evaluated for impairment | 1,693 | 777 | |
Ending balance: collectively evaluated for impairment | 132,912 | 138,824 | |
Ending balance: purchased credit impaired loans | 444 | 515 | |
Real Estate Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Beginning balance | 379 | 160 | |
Allowance for Loan Losses, Provision | 5 | ||
Allowance for Loan Losses, Ending balance | 384 | 160 | |
Ending balance: collectively evaluated for impairment | 384 | 379 | |
Ending balance: purchased credit impaired loans | 0 | 0 | |
Ending balance | 33,209 | 34,405 | |
Ending balance: collectively evaluated for impairment | 33,209 | 34,405 | |
Real Estate Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Beginning balance | 2,963 | 2,110 | |
Allowance for Loan Losses, Recoveries | 22 | 32 | |
Allowance for Loan Losses, Provision | 493 | 432 | |
Allowance for Loan Losses, Ending balance | 3,458 | 2,545 | |
Ending balance: individually evaluated for impairment | 78 | 76 | |
Ending balance: collectively evaluated for impairment | 3,380 | 2,887 | |
Ending balance: purchased credit impaired loans | 0 | 0 | |
Ending balance | 516,333 | 526,230 | |
Ending balance: individually evaluated for impairment | 2,919 | 2,988 | |
Ending balance: collectively evaluated for impairment | 507,714 | 516,300 | |
Ending balance: purchased credit impaired loans | 5,700 | 6,942 | |
Real Estate Residential [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Beginning balance | 1,340 | 789 | |
Allowance for Loan Losses, Charge-offs | (50) | (7) | |
Allowance for Loan Losses, Recoveries | 1 | 1 | |
Allowance for Loan Losses, Provision | (112) | 38 | |
Allowance for Loan Losses, Ending balance | 1,179 | 821 | |
Ending balance: individually evaluated for impairment | 47 | 92 | |
Ending balance: collectively evaluated for impairment | 1,132 | 1,248 | |
Ending balance: purchased credit impaired loans | 0 | 0 | |
Ending balance | 236,390 | 240,626 | |
Ending balance: individually evaluated for impairment | 2,414 | 2,482 | |
Ending balance: collectively evaluated for impairment | 233,052 | 237,089 | |
Ending balance: purchased credit impaired loans | 924 | 1,055 | |
Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Beginning balance | 37 | 44 | |
Allowance for Loan Losses, Charge-offs | (99) | (5) | |
Allowance for Loan Losses, Recoveries | 39 | ||
Allowance for Loan Losses, Provision | 55 | 15 | |
Allowance for Loan Losses, Ending balance | 32 | 54 | |
Ending balance: collectively evaluated for impairment | 32 | 37 | |
Ending balance: purchased credit impaired loans | 0 | 0 | |
Ending balance | 13,209 | 14,594 | |
Ending balance: collectively evaluated for impairment | 13,209 | 14,594 | |
Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Beginning balance | 381 | ||
Allowance for Loan Losses, Provision | 265 | 124 | |
Allowance for Loan Losses, Ending balance | 646 | $ 124 | |
Ending balance: collectively evaluated for impairment | 646 | 381 | |
Ending balance: purchased credit impaired loans | $ 0 | $ 0 |
Loans, Net and Allowance for 36
Loans, Net and Allowance for Loan Losses - Summary of Major Classification of Loans Summarized by Aggregate Pass Rating (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 934,190 | $ 955,971 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 135,049 | 140,116 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 33,209 | 34,405 |
Real Estate Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 516,333 | 526,230 |
Real Estate Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 236,390 | 240,626 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 13,209 | 14,594 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 886,592 | 906,480 |
Pass [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 121,929 | 126,506 |
Pass [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 32,028 | 32,840 |
Pass [Member] | Real Estate Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 489,204 | 497,852 |
Pass [Member] | Real Estate Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 230,320 | 234,808 |
Pass [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 13,111 | 14,474 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 23,690 | 28,453 |
Special Mention [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 8,623 | 9,372 |
Special Mention [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,058 | 1,442 |
Special Mention [Member] | Real Estate Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 11,724 | 15,305 |
Special Mention [Member] | Real Estate Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 2,187 | 2,214 |
Special Mention [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 98 | 120 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 23,908 | 21,038 |
Substandard [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 4,497 | 4,238 |
Substandard [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 123 | 123 |
Substandard [Member] | Real Estate Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 15,405 | 13,073 |
Substandard [Member] | Real Estate Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 3,883 | $ 3,604 |
Loans, Net and Allowance for 37
Loans, Net and Allowance for Loan Losses - Summary of Classes of Loan Portfolio Summarized by Aging Categories of Performing Loans and Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | $ 934,190 | $ 955,971 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 135,049 | 140,116 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 33,209 | 34,405 |
Real Estate Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 516,333 | 526,230 |
Real Estate Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 236,390 | 240,626 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 13,209 | 14,594 |
Performing Loans and Non Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,617 | 7,849 |
Current | 918,881 | 937,865 |
Nonaccrual Loans | 2,624 | 1,745 |
Total | 927,122 | 947,459 |
Performing Loans and Non Accrual Loans [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 887 | 1,914 |
Current | 132,723 | 137,612 |
Nonaccrual Loans | 995 | 75 |
Total | 134,605 | 139,601 |
Performing Loans and Non Accrual Loans [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 14 | 8 |
Current | 33,195 | 34,397 |
Total | 33,209 | 34,405 |
Performing Loans and Non Accrual Loans [Member] | Real Estate Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,977 | 2,515 |
Current | 508,309 | 516,410 |
Nonaccrual Loans | 347 | 363 |
Total | 510,633 | 519,288 |
Performing Loans and Non Accrual Loans [Member] | Real Estate Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,586 | 3,194 |
Current | 231,598 | 235,070 |
Nonaccrual Loans | 1,282 | 1,307 |
Total | 235,466 | 239,571 |
Performing Loans and Non Accrual Loans [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 153 | 218 |
Current | 13,056 | 14,376 |
Total | 13,209 | 14,594 |
Performing Loans and Non Accrual Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,891 | 6,309 |
Performing Loans and Non Accrual Loans [Member] | 30-59 Days Past Due [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 864 | 1,829 |
Performing Loans and Non Accrual Loans [Member] | 30-59 Days Past Due [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 14 | 8 |
Performing Loans and Non Accrual Loans [Member] | 30-59 Days Past Due [Member] | Real Estate Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,767 | 2,213 |
Performing Loans and Non Accrual Loans [Member] | 30-59 Days Past Due [Member] | Real Estate Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,121 | 2,110 |
Performing Loans and Non Accrual Loans [Member] | 30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 125 | 149 |
Performing Loans and Non Accrual Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 333 | 848 |
Performing Loans and Non Accrual Loans [Member] | 60-89 Days Past Due [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 23 | 85 |
Performing Loans and Non Accrual Loans [Member] | 60-89 Days Past Due [Member] | Real Estate Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 60 | 152 |
Performing Loans and Non Accrual Loans [Member] | 60-89 Days Past Due [Member] | Real Estate Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 231 | 551 |
Performing Loans and Non Accrual Loans [Member] | 60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 19 | 60 |
Performing Loans and Non Accrual Loans [Member] | 90 Days and Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 393 | 692 |
Performing Loans and Non Accrual Loans [Member] | 90 Days and Greater [Member] | Real Estate Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 150 | 150 |
Performing Loans and Non Accrual Loans [Member] | 90 Days and Greater [Member] | Real Estate Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 234 | 533 |
Performing Loans and Non Accrual Loans [Member] | 90 Days and Greater [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9 | 9 |
Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | $ 7,068 | $ 8,512 |
Loans, Net and Allowance for 38
Loans, Net and Allowance for Loan Losses - Schedule of Information Concerning Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, recorded investment | $ 12,269 | $ 6,342 | $ 13,703 |
Impaired loans with an allowance recorded, recorded investment | 1,825 | 987 | 1,056 |
Impaired loans, recorded investment | 14,094 | 7,329 | 14,759 |
Impaired loans with no related allowance recorded, unpaid principal balance | 12,287 | 6,480 | 13,721 |
Impaired loans with an allowance recorded, unpaid principal balance | 1,963 | 987 | 1,194 |
Impaired loans, unpaid principal balance | 14,250 | 7,467 | 14,915 |
Impaired loans, related allowance | 194 | 161 | 224 |
Impaired loans with no related allowance recorded, average recorded investment | 13,107 | 6,638 | 14,270 |
Impaired loans with an allowance recorded, average recorded investment | 1,164 | 831 | 1,057 |
Impaired loans, average recorded investment | 14,271 | 7,469 | 15,327 |
Impaired loans with no related allowance recorded, interest income recognized | 1,467 | 77 | 566 |
Impaired loans with an allowance recorded, interest income recognized | 10 | 6 | 36 |
Impaired loans, interest income recognized | 1,477 | 83 | 602 |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, recorded investment | 1,033 | 730 | 1,107 |
Impaired loans with an allowance recorded, recorded investment | 1,105 | 120 | 185 |
Impaired loans, recorded investment | 2,138 | 850 | 1,292 |
Impaired loans with no related allowance recorded, unpaid principal balance | 1,033 | 730 | 1,107 |
Impaired loans with an allowance recorded, unpaid principal balance | 1,105 | 120 | 185 |
Impaired loans, unpaid principal balance | 2,138 | 850 | 1,292 |
Impaired loans, related allowance | 69 | 1 | 56 |
Impaired loans with no related allowance recorded, average recorded investment | 1,119 | 767 | 1,210 |
Impaired loans with an allowance recorded, average recorded investment | 442 | 122 | 186 |
Impaired loans, average recorded investment | 1,561 | 889 | 1,396 |
Impaired loans with no related allowance recorded, interest income recognized | 353 | 8 | 77 |
Impaired loans with an allowance recorded, interest income recognized | 2 | 1 | |
Impaired loans, interest income recognized | 355 | 8 | 78 |
Real Estate Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, recorded investment | 8,084 | 3,165 | 9,399 |
Impaired loans with an allowance recorded, recorded investment | 534 | 867 | 531 |
Impaired loans, recorded investment | 8,618 | 4,032 | 9,930 |
Impaired loans with no related allowance recorded, unpaid principal balance | 8,084 | 3,165 | 9,399 |
Impaired loans with an allowance recorded, unpaid principal balance | 534 | 867 | 531 |
Impaired loans, unpaid principal balance | 8,618 | 4,032 | 9,930 |
Impaired loans, related allowance | 78 | 160 | 76 |
Impaired loans with no related allowance recorded, average recorded investment | 8,736 | 3,230 | 10,164 |
Impaired loans with an allowance recorded, average recorded investment | 535 | 709 | 532 |
Impaired loans, average recorded investment | 9,271 | 3,939 | 10,696 |
Impaired loans with no related allowance recorded, interest income recognized | 1,035 | 36 | 340 |
Impaired loans with an allowance recorded, interest income recognized | 6 | 6 | 23 |
Impaired loans, interest income recognized | 1,041 | 42 | 363 |
Real Estate Residential [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, recorded investment | 3,152 | 2,447 | 3,197 |
Impaired loans with an allowance recorded, recorded investment | 186 | 340 | |
Impaired loans, recorded investment | 3,338 | 2,447 | 3,537 |
Impaired loans with no related allowance recorded, unpaid principal balance | 3,170 | 2,585 | 3,215 |
Impaired loans with an allowance recorded, unpaid principal balance | 324 | 478 | |
Impaired loans, unpaid principal balance | 3,494 | 2,585 | 3,693 |
Impaired loans, related allowance | 47 | 92 | |
Impaired loans with no related allowance recorded, average recorded investment | 3,252 | 2,641 | 2,896 |
Impaired loans with an allowance recorded, average recorded investment | 187 | 339 | |
Impaired loans, average recorded investment | 3,439 | 2,641 | 3,235 |
Impaired loans with no related allowance recorded, interest income recognized | 79 | 33 | 149 |
Impaired loans with an allowance recorded, interest income recognized | 2 | 12 | |
Impaired loans, interest income recognized | $ 81 | $ 33 | $ 161 |
Loans, Net and Allowance for 39
Loans, Net and Allowance for Loan Losses - Schedule of Number of Loans and Recorded Investment in Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017USD ($)Contract | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Financing Receivable, Modifications [Line Items] | |||
Troubled Debt Restructurings, Recorded Investment | $ 6,021 | $ 5,429 | $ 5,606 |
Residential Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled Debt Restructurings, Number of Contracts | Contract | 1 | ||
Troubled Debt Restructurings, Pre-Modification Outstanding Recorded Investment | $ 59 | ||
Troubled Debt Restructurings, Post-Modification Outstanding Recorded Investment | 29 | ||
Troubled Debt Restructurings, Recorded Investment | $ 29 |
Loans, Net and Allowance for 40
Loans, Net and Allowance for Loan Losses - Summary of Unpaid Principal Balances and Related Carrying Amounts of Acquired Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | $ 418,924 | $ 438,423 |
Carrying Amount | 409,152 | 426,658 |
Credit Impaired Purchased Loans Evaluated Individually for Incurred Credit Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 13,861 | 16,803 |
Carrying Amount | 7,068 | 8,512 |
Other Purchased Loans Evaluated Collectively for Incurred Credit Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 405,063 | 421,620 |
Carrying Amount | $ 402,084 | $ 418,146 |
Loans, Net and Allowance for 41
Loans, Net and Allowance for Loan Losses - Summary of Changes in Accretable Discount Related to Purchased Credit Impaired Loans (Detail) - Citizens National Bank of Meyersdale [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Balance-beginning of period | $ 2,129 | $ 370 |
Additions | 0 | 0 |
Accretion recognized during the period | (1,443) | (23) |
Net reclassification from non-accretable to accretable | 969 | (24) |
Balance-end of period | $ 1,655 | $ 323 |
Other Assets - Components of Ot
Other Assets - Components of Other Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Other Assets [Abstract] | ||
Other real estate owned | $ 92 | $ 236 |
Bank owned life insurance | 29,256 | 29,065 |
Restricted equity securities | 1,098 | 1,306 |
Deferred tax assets | 7,487 | 7,949 |
Other assets | 5,838 | 5,147 |
Total | $ 43,771 | $ 43,703 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 88,773 | $ 93,201 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 88,773 | 93,201 |
Fair Value Measurements Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 88,773 | 93,201 |
Fair Value Measurements Recurring [Member] | Taxable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 34,101 | 35,002 |
Fair Value Measurements Recurring [Member] | Tax-Exempt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 14,911 | 16,308 |
Fair Value Measurements Recurring [Member] | Mortgage-Backed Securities - U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 21,287 | 22,817 |
Fair Value Measurements Recurring [Member] | Mortgage-backed Securities - U.S. Government-sponsored Enterprises [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 9,553 | 10,089 |
Fair Value Measurements Recurring [Member] | Corporate Debt Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 8,921 | 8,985 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 88,773 | 93,201 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Taxable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 34,101 | 35,002 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Tax-Exempt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 14,911 | 16,308 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities - U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 21,287 | 22,817 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage-backed Securities - U.S. Government-sponsored Enterprises [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 9,553 | 10,089 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 8,921 | $ 8,985 |
Fair Value of Financial Instr44
Fair Value of Financial Instruments - Summary of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Detail) - Fair Value Measurements Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | $ 92 | $ 236 |
Impaired loans, net of related allowance | 1,631 | 832 |
Total | 1,723 | 1,068 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | 92 | 236 |
Impaired loans, net of related allowance | 1,631 | 832 |
Total | $ 1,723 | $ 1,068 |
Fair Value of Financial Instr45
Fair Value of Financial Instruments - Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis (Detail) - Fair Value Measurements Nonrecurring [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Estimate | $ 1,723 | $ 1,068 |
Other Real Estate Owned [Member] | Level 3 Fair Value Measurements, Appraisal Adjustments [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Estimate | $ 92 | $ 236 |
Valuation Technique | Appraisal of collateral | Appraisal of collateral |
Unobservable Input | Appraisal adjustments | Appraisal adjustments |
Other Real Estate Owned [Member] | Level 3 Fair Value Measurements, Liquidation Expenses [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | Liquidation expenses | Liquidation expenses |
Impaired Loan [Member] | Level 3 Fair Value Measurements, Appraisal Adjustments [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Estimate | $ 1,631 | $ 832 |
Valuation Technique | Appraisal of collateral | Appraisal of collateral |
Unobservable Input | Appraisal adjustments | Appraisal adjustments |
Impaired Loan [Member] | Level 3 Fair Value Measurements, Liquidation Expenses [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | Liquidation expenses | Liquidation expenses |
Minimum [Member] | Other Real Estate Owned [Member] | Level 3 Fair Value Measurements, Appraisal Adjustments [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 0.00% | 0.00% |
Minimum [Member] | Other Real Estate Owned [Member] | Level 3 Fair Value Measurements, Liquidation Expenses [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 0.00% | 0.00% |
Minimum [Member] | Impaired Loan [Member] | Level 3 Fair Value Measurements, Appraisal Adjustments [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 0.00% | 0.00% |
Minimum [Member] | Impaired Loan [Member] | Level 3 Fair Value Measurements, Liquidation Expenses [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 7.00% | 0.00% |
Maximum [Member] | Other Real Estate Owned [Member] | Level 3 Fair Value Measurements, Appraisal Adjustments [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 69.00% | 69.00% |
Maximum [Member] | Other Real Estate Owned [Member] | Level 3 Fair Value Measurements, Liquidation Expenses [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 7.00% | 7.00% |
Maximum [Member] | Impaired Loan [Member] | Level 3 Fair Value Measurements, Appraisal Adjustments [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 0.00% | 0.00% |
Maximum [Member] | Impaired Loan [Member] | Level 3 Fair Value Measurements, Liquidation Expenses [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 20.00% | 7.00% |
Weighted Average [Member] | Other Real Estate Owned [Member] | Level 3 Fair Value Measurements, Appraisal Adjustments [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 33.00% | 39.00% |
Weighted Average [Member] | Other Real Estate Owned [Member] | Level 3 Fair Value Measurements, Liquidation Expenses [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 7.00% | 7.00% |
Weighted Average [Member] | Impaired Loan [Member] | Level 3 Fair Value Measurements, Appraisal Adjustments [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 0.00% | 0.00% |
Weighted Average [Member] | Impaired Loan [Member] | Level 3 Fair Value Measurements, Liquidation Expenses [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 11.00% | 7.00% |
Fair Value of Financial Instr46
Fair Value of Financial Instruments - Carrying and Fair Values of Riverview's Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Financial assets: | |||||
Cash and cash equivalents | $ 59,849 | $ 25,786 | $ 22,404 | $ 19,120 | |
Investment securities | 88,773 | 93,201 | |||
Loans held for sale | 610 | 254 | |||
Net loans | 927,675 | 949,665 | |||
Accrued interest receivable | 2,865 | 3,237 | |||
Restricted equity securities | 1,098 | 1,306 | |||
Financial liabilities: | |||||
Deposits | 1,038,605 | 1,026,480 | |||
Short-term borrowings | 6,000 | ||||
Long-term debt | 13,160 | 13,233 | |||
Accrued interest payable | 466 | 468 | |||
Carrying Amount [Member] | |||||
Financial assets: | |||||
Cash and cash equivalents | 59,849 | 25,786 | |||
Investment securities | 88,773 | 93,201 | |||
Loans held for sale | 610 | 254 | |||
Net loans | [1] | 927,675 | 949,665 | ||
Accrued interest receivable | 2,865 | 3,237 | |||
Restricted equity securities | 1,098 | 1,306 | |||
Financial liabilities: | |||||
Deposits | 1,038,605 | 1,026,480 | |||
Short-term borrowings | 6,000 | ||||
Long-term debt | 13,160 | 13,233 | |||
Accrued interest payable | 466 | 468 | |||
Fair Value [Member] | |||||
Financial assets: | |||||
Cash and cash equivalents | 59,849 | 25,786 | |||
Investment securities | 88,773 | 93,201 | |||
Loans held for sale | 610 | 254 | |||
Net loans | [1] | 911,930 | 954,876 | ||
Accrued interest receivable | 2,865 | 3,237 | |||
Restricted equity securities | 1,098 | 1,306 | |||
Financial liabilities: | |||||
Deposits | 1,000,954 | 1,022,068 | |||
Short-term borrowings | 6,000 | ||||
Long-term debt | 13,356 | 14,634 | |||
Accrued interest payable | 466 | 468 | |||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||||
Financial assets: | |||||
Cash and cash equivalents | 59,849 | 25,786 | |||
Restricted equity securities | 1,098 | 1,306 | |||
Significant Other Observable Inputs (Level 2) [Member] | |||||
Financial assets: | |||||
Investment securities | 88,773 | 93,201 | |||
Loans held for sale | 610 | 254 | |||
Accrued interest receivable | 729 | 640 | |||
Financial liabilities: | |||||
Deposits | 1,000,954 | 1,022,068 | |||
Short-term borrowings | 6,000 | ||||
Long-term debt | 13,356 | 14,634 | |||
Accrued interest payable | 466 | 468 | |||
Significant Unobservable Inputs (Level 3) [Member] | |||||
Financial assets: | |||||
Net loans | [1] | 911,930 | 954,876 | ||
Accrued interest receivable | $ 2,136 | $ 2,597 | |||
[1] | The carrying amount is net of unearned income and the allowance for loan losses in accordance with the adoption of ASU No. 2016-01where the fair value of loans as of March 31, 2018 was measured using an exit price notion. The fair value of loans at December 31, 2017 was measured using an entry price notion. |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Non Interest Income, Segregated by Revenue Streams in-Scope and Out-of-Scope of Topic 606 (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Noninterest income: | ||
Service charges, fees and commissions | $ 1,228 | $ 337 |
Trust and asset management | 364 | 288 |
Noninterest income (in-scope of Topic 606) | 1,592 | 625 |
Noninterest income (out-of-scope of Topic 606) | 361 | 154 |
Total noninterest income | $ 1,953 | $ 779 |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Revenue from Contract with Customer [Abstract] | ||
Contract with customer asset | $ 0 | $ 0 |
Contract with customer liability | $ 0 | $ 0 |