Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | May 07, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | CB Financial Services, Inc. | |
Entity Central Index Key | 0001605301 | |
Trading Symbol | cbfv | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 5,393,712 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common stock, par value $0.4167 per share |
Consolidated Statement of Finan
Consolidated Statement of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Interest Bearing | $ 64,004 | $ 68,798 |
Non-Interest Bearing | 14,095 | 11,419 |
Total Cash and Due From Banks | 78,099 | 80,217 |
Available-for-Sale | 171,411 | 197,385 |
Loans, Net of Allowance for Loan Losses of $12,322 and $9,867 at March 31, 2020 and December 31, 2019, Respectively | 962,328 | 942,629 |
Premises and Equipment, Net | 22,037 | 22,282 |
Bank-Owned Life Insurance | 24,361 | 24,222 |
Goodwill | 28,425 | 28,425 |
Intangible Assets, Net | 9,995 | 10,527 |
Accrued Interest and Other Assets | 16,517 | 15,850 |
TOTAL ASSETS | 1,313,173 | 1,321,537 |
LIABILITIES | ||
Non-Interest Bearing Demand Deposits | 267,369 | 267,152 |
NOW Accounts | 229,601 | 232,099 |
Money Market Accounts | 177,597 | 182,428 |
Savings Accounts | 220,484 | 216,924 |
Time Deposits | 211,589 | 219,756 |
Total Deposits | 1,106,640 | 1,118,359 |
Short-Term Borrowings | 34,967 | 30,571 |
Other Borrowings | 11,000 | 14,000 |
Accrued Interest and Other Liabilities | 9,041 | 7,510 |
TOTAL LIABILITIES | 1,161,648 | 1,170,440 |
STOCKHOLDERS' EQUITY | ||
Preferred Stock, No Par Value; 5,000,000 Shares Authorized | ||
Common Stock, $0.4167 Par Value; 35,000,000 Shares Authorized, 5,680,993 Shares Issued and 5,393,712 and 5,463,828 Shares Outstanding at March 31, 2020 and December 31, 2019, Respectively | 2,367 | 2,367 |
Capital Surplus | 83,216 | 82,971 |
Retained Earnings | 66,431 | 66,955 |
Treasury Stock, at Cost (287,281 and 217,165 Shares at March 31, 2020 and December 31, 2019, Respectively) | (5,914) | (3,842) |
Accumulated Other Comprehensive Income | 5,425 | 2,646 |
TOTAL STOCKHOLDERS' EQUITY | 151,525 | 151,097 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 1,313,173 | $ 1,321,537 |
Consolidated Statement of Fin_2
Consolidated Statement of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Allowance for Loan Losses | $ 12,322 | $ 9,867 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Common stock, par value (in dollars per share) | $ 0.4167 | $ 0.4167 |
Common stock, shares authorized (in shares) | 35,000,000 | 35,000,000 |
Common stock, shares issued (in shares) | 5,680,993 | 5,680,993 |
Common stock, shares outstanding (in shares) | 5,393,712 | 5,463,828 |
Treasury stock, at cost (in shares) | 287,281 | 217,165 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
INTEREST AND DIVIDEND INCOME | ||
Loans, Including Fees | $ 10,764 | $ 10,433 |
Investment Securities: | ||
Taxable | 1,201 | 1,317 |
Tax-Exempt | 106 | 208 |
Dividends | 20 | 20 |
Other Interest and Dividend Income | 238 | 318 |
TOTAL INTEREST AND DIVIDEND INCOME | 12,329 | 12,296 |
INTEREST EXPENSE | ||
Deposits | 1,681 | 1,719 |
Short-Term Borrowings | 45 | 46 |
Other Borrowings | 70 | 97 |
TOTAL INTEREST EXPENSE | 1,796 | 1,862 |
NET INTEREST INCOME | 10,533 | 10,434 |
Provision For Loan Losses | 2,500 | 25 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 8,033 | 10,409 |
NONINTEREST INCOME | ||
Noninterest income | 12,329 | 12,296 |
Net Gain on Sales of Loans | 127 | 92 |
Net Loss on Sales of Investment Securities | (60) | |
Change in Fair Value of Marketable Equity Securities | (438) | 20 |
Net Gain on Purchased Tax Credits | 15 | 9 |
Net Gain (Loss) on Disposal of Fixed Assets | 17 | (6) |
Income from Bank-Owned Life Insurance | 139 | 132 |
Other Income | 14 | 66 |
TOTAL NONINTEREST INCOME | 1,870 | 2,113 |
NONINTEREST EXPENSE | ||
Salaries and Employee Benefits | 4,731 | 4,937 |
Occupancy | 733 | 759 |
Equipment | 257 | 296 |
Data Processing | 425 | 408 |
FDIC Assessment | 158 | 188 |
PA Shares Tax | 275 | 268 |
Contracted Services | 378 | 272 |
Legal and Professional Fees | 235 | 181 |
Advertising | 183 | 117 |
Other Real Estate Owned (Income) | (17) | (63) |
Amortization of Intangible Assets | 532 | 532 |
Other | 1,111 | 984 |
TOTAL NONINTEREST EXPENSE | 9,001 | 8,879 |
Income Before Income Tax Expense | 902 | 3,643 |
Income Tax Expense | 129 | 718 |
NET INCOME | $ 773 | $ 2,925 |
EARNINGS PER SHARE | ||
Basic (in dollars per share) | $ 0.14 | $ 0.54 |
Diluted (in dollars per share) | $ 0.14 | $ 0.54 |
WEIGHTED AVERAGE SHARES OUTSTANDING | ||
Basic (in shares) | 5,431,199 | 5,432,856 |
Diluted (in shares) | 5,456,867 | 5,451,478 |
Deposit Account [Member] | ||
NONINTEREST INCOME | ||
Noninterest income | $ 603 | $ 592 |
Insurance Commissions [Member] | ||
NONINTEREST INCOME | ||
Noninterest income | 1,283 | 1,151 |
Financial Service, Other [Member] | ||
NONINTEREST INCOME | ||
Noninterest income | $ 110 | $ 117 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
Net Income | $ 773 | $ 2,925 | |
Other Comprehensive Income: | |||
Unrealized Gains on Available-for-Sale Securities Net of Income, Net of Income Tax Expense of $739 and $622 for the Three Months Ended March 31, 2020 and 2019, Respectively | 2,779 | 2,337 | |
Income, Net of Income Tax Benefit of ($13) for the Three Months Ended March 31, 2019 (1) | [1] | 47 | |
Other Comprehensive Income, Net of Income Tax Expense (Benefit) | 2,779 | 2,384 | |
Total Comprehensive Income | $ 3,552 | $ 5,309 | |
[1] | The gross amount of losses on securities of $(60) for the Three Months Ended March 31, 2019 is reported as Net Loss on Sales of Investments Securities on the Consolidated Statement of Income. The income tax benefit is included in Income Tax Expense on the Consolidated Statement of Income. |
Consolidated Statement of Com_2
Consolidated Statement of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Unrealized Gains (Losses) on Available-for-Sale Securities, Tax | $ 739 | $ 622 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 5,680,993 | |||||
Balance at Dec. 31, 2018 | $ 2,367 | $ 83,225 | $ 57,843 | $ (4,370) | $ (1,440) | $ 137,625 |
Net Income | 2,925 | 2,925 | ||||
Other Comprehensive Income | 2,384 | 2,384 | ||||
Stock-Based Compensation Expense | 77 | 77 | ||||
Exercise of Stock Options | 5 | 17 | 22 | |||
Dividends Paid | (1,304) | (1,304) | ||||
Balance (in shares) at Mar. 31, 2019 | 5,680,993 | |||||
Balance at Mar. 31, 2019 | $ 2,367 | 83,307 | 59,464 | (4,353) | 944 | 141,729 |
Balance (in shares) at Dec. 31, 2019 | 5,680,993 | |||||
Balance at Dec. 31, 2019 | $ 2,367 | 82,971 | 66,955 | (3,842) | 2,646 | 151,097 |
Net Income | 773 | 773 | ||||
Other Comprehensive Income | 2,779 | 2,779 | ||||
Restricted Stock Awards Granted | 96 | (96) | ||||
Stock-Based Compensation Expense | 145 | 145 | ||||
Exercise of Stock Options | 4 | (68) | (64) | |||
Treasury Stock Purchased, at Cost | (1,908) | (1,908) | ||||
Dividends Paid | (1,297) | (1,297) | ||||
Balance (in shares) at Mar. 31, 2020 | 5,680,993 | |||||
Balance at Mar. 31, 2020 | $ 2,367 | $ 83,216 | $ 66,431 | $ (5,914) | $ 5,425 | $ 151,525 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Purchase of common stock, shares (in shares) | 67,816 | |
Dividends Declared, per share (in dollars per share) | $ 0.24 | |
Dividends paid, per share (in dollars per share) | $ 0.24 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
OPERATING ACTIVITIES | ||
Net Income | $ 773 | $ 2,925 |
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities: | ||
Net Accretion on Investments | (70) | (1) |
Depreciation and Amortization | 941 | 913 |
Provision for Loan Losses | 2,500 | 25 |
Change in Fair Value of Marketable Equity Securities | 438 | (20) |
Net Gain on Purchased Tax Credits | (15) | (9) |
Income from Bank-Owned Life Insurance | (139) | (132) |
Proceeds From Mortgage Loans Sold | 4,771 | 3,995 |
Originations of Mortgage Loans for Sale | (4,644) | (3,903) |
Net Gain on Sales of Loans | (127) | (92) |
Net Loss on Sales of Investment Securities | 60 | |
Net Gain on Sales of Other Real Estate Owned and Repossessed Assets | (4) | (30) |
Noncash Expense for Stock-Based Compensation | 145 | 77 |
Decrease (Increase) in Accrued Interest Receivable | 23 | (237) |
Net (Gain) Loss on Disposal of Fixed Assets | (17) | 6 |
(Decrease) Increase in Taxes Payable | (1,165) | 455 |
Payments on Operating Leases | (110) | (103) |
(Decrease) Increase in Accrued Interest Payable | (124) | 176 |
Net Payment of Federal and State Income Taxes | (15) | |
Other, Net | 414 | (2,828) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 3,590 | 1,262 |
INVESTING ACTIVITIES | ||
Proceeds From Principal Repayments and Maturities | 46,498 | 3,901 |
Purchases of Debt and Marketable Equity Securities | (19,824) | (10,947) |
Proceeds from Sales of Securities | 10,762 | |
Net Increase in Loans | (18,861) | 3,845 |
Purchase of Premises and Equipment | (17) | |
Asset Acquisition of a Customer List | (900) | |
Proceeds From Sales of Other Real Estate Owned and Repossessed Assets | 22 | 773 |
Decrease in Restricted Equity Securities | 66 | 55 |
NET CASH PROVIDED BY INVESTING ACTIVITIES | 7,884 | 7,489 |
FINANCING ACTIVITIES | ||
Net (Decrease) Increase in Deposits | (11,719) | 18,807 |
Net Increase (Decrease) in Short-Term Borrowings | 4,396 | (290) |
Principal Payments on Other Borrowed Funds | (3,000) | (3,000) |
Cash Dividends Paid | (1,297) | (1,304) |
Treasury Stock, Purchases at Cost | (1,908) | |
Exercise of Stock Options | (64) | 22 |
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (13,592) | 14,235 |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (2,118) | 22,986 |
CASH AND DUE FROM BANKS AT BEGINNING OF YEAR | 80,217 | 53,353 |
CASH AND DUE FROM BANKS AT END OF PERIOD | 78,099 | 76,339 |
Cash paid for: | ||
Interest on deposits and borrowings (including interest credited to deposit accounts of $1,799 and $1,538, respectively) | 1,920 | 1,686 |
Income taxes | 15 | |
Real estate acquired in settlement of loans | 76 | |
Securities sold not settled | 2,450 | |
Right of use asset recognized | 23 | 1,706 |
Lease liability recognized | $ 23 | $ 1,712 |
Consolidated Statement of Cas_2
Consolidated Statement of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Interest credited to deposit accounts | $ 1,799 | $ 1,538 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1. Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of CB Financial Services, Inc. (“CB Financial”) and its wholly owned subsidiary, Community Bank (the “Bank”), and the Bank’s wholly-owned subsidiary, Exchange Underwriters, Inc. (“Exchange Underwriters” or “EU”). CB Financial and the Bank are collectively referred to as the “Company”. All intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited interim financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not In the opinion of management, the accompanying unaudited interim financial statements include all adjustments considered necessary for a fair presentation of the Company’s financial position and results of operations at the dates and for the periods presented. All these adjustments are of a normal, recurring nature, and they are the only adjustments included in the accompanying unaudited interim financial statements. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto in the Company’s Annual Report on Form 10 December 31, 2019. not The Company evaluated subsequent events through the date the consolidated financial statements were filed with the SEC and incorporated into the consolidated financial statements the effect of all material known events determined by Accounting Standards Codification ("ASC”) 855, Subsequent Events Nature of Operations The Company derives substantially all its income from banking and bank-related services which include interest earnings on commercial, commercial mortgage, residential real estate and consumer loan financing, as well as interest earnings on investment securities and fees generated from deposit services to its customers. The Company provides banking services through its subsidiary, Community Bank, a Pennsylvania-chartered commercial bank headquartered in Carmichaels, Pennsylvania. The Bank operates from twenty seven one Reclassifications Certain comparative amounts for the prior year have been reclassified to conform to the current year presentation. Such reclassifications did not Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. At March 31, 2020 December 31, 2019, $28.4 October 31 two 100% In 2019, 2017 04 one not not The COVID- 19 March 2020 19 not 19, March 31, 2020. Determining the fair value of a reporting unit under a quantitative goodwill impairment test is judgmental and often involves the use of significant estimates and assumptions. The Company utilized a market approach to determine the fair value of the Community Banking reporting unit. Significant assumptions inherent in the valuation methodologies for goodwill are employed and include, but are not 2008 2010 19 Based on the analysis, management determined that goodwill was not March 31, 2020. 19 Recent Accounting Standards In March 2020, ASU2020 04, Reference Rate Reform (Topic 848 not not not 2020 04 March 12, 2020 December 31, 2022. may may In August 2018, 2018 15 , Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350 40 2018 15 not first 2020 not In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13 1 2 3 2018 13 2018 13 3 3 first 2020. 3 not In January 2017, 2017 04, Intangibles - Goodwill and Other (Topic 350 2017 04 second one not not 2017 04 December 15, 2019, 2017 04 October 31, 2019 not In September 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326 2016 13 2016 13 2016 13 not 2016 13 not 2016 13 December 15, 2019, November 2019, 2016 13 January 1, 2023. one one |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 2. There are no The following table sets forth the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computation. Three Months Ended March 31, 2020 2019 (Dollars in thousands, except share and per share data) Net income $ 773 $ 2,925 Weighted-Average Basic Common Shares Outstanding 5,431,199 5,432,856 Dilutive Effect of Common Stock Equivalents (Stock Options and Restricted Stock) 25,668 18,622 Weighted-Average Diluted Common Shares and Common Stock Equivalents Outstanding 5,456,867 5,451,478 Earnings per share: Basic $ 0.14 $ 0.54 Diluted 0.14 0.54 The dilutive effect on weighted average diluted common shares outstanding is the result of outstanding stock options and nonvested restricted stock. For the three March 31, 2020 2019, 78,545 83,688 not three March 31, 2020, 30,250 not three March 31, 2019, no |
Note 3 - Investment Securities
Note 3 - Investment Securities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3. The following table presents the amortized cost and fair value of investment securities available-for-sale at the dates indicated: March 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) Debt Securities: U.S. Government Agencies $ 7,913 $ 95 $ - $ 8,008 Obligations of States and Political Subdivisions 23,869 1,016 (1 ) 24,884 Mortgage-Backed Securities - Government-Sponsored Enterprises 130,450 5,782 - 136,232 Total Debt Securities $ 162,232 $ 6,893 $ (1 ) 169,124 Marketable Equity Securities: Mutual Funds 1,013 Other 1,274 Total Marketable Equity Securities 2,287 Total Available-for-Sale Securities $ 171,411 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) Debt Securities: U.S. Government Agencies $ 47,993 $ 227 $ (164 ) $ 48,056 Obligations of States and Political Subdivisions 25,026 819 (2 ) 25,843 Mortgage-Backed Securities - Government-Sponsored Enterprises 118,282 2,601 (107 ) 120,776 Total Debt Securities $ 191,301 $ 3,647 $ (273 ) 194,675 Marketable Equity Securities: Mutual Funds 997 Other 1,713 Total Marketable Equity Securities 2,710 Total Available-for-Sale Securities $ 197,385 The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at the dates indicated: March 31, 2020 Less than 12 months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized Securities Value Losses Securities Value Losses Securities Value Losses (Dollars in thousands) Obligations of States and Political Subdivisions 1 $ 509 $ (1 ) - $ - $ - 1 $ 509 $ (1 ) December 31, 2019 Less than 12 months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized Securities Value Losses Securities Value Losses Securities Value Losses (Dollars in thousands) U.S. Government Agencies 6 $ 16,116 $ (83 ) 6 $ 13,938 $ (81 ) 12 $ 30,054 $ (164 ) Obligations of States and Political Subdivisions - - - 1 509 (2 ) 1 509 (2 ) Mortgage-Backed Securities - Government Sponsored Enterprises 7 20,003 (104 ) 1 1,711 (3 ) 8 21,714 (107 ) Total 13 $ 36,119 $ (187 ) 8 $ 16,158 $ (86 ) 21 $ 52,277 $ (273 ) For debt securities, the Company does not March 31, 2020 December 31, 2019, may March 31, 2020 December 31, 2019 not not not Marketable equity securities are measured at fair value with changes in fair value included in Change in Fair Value of Marketable Equity Securities on the Consolidated Statement of Income. Realized gains and losses on sales of marketable equity securities are included in Net Loss on Sales of Investment Securities on the Consolidated Statement of Income. There were no three March 31, 2020 2019, The following table presents the scheduled maturities of debt securities as of the date indicated: March 31, 2020 Amortized Fair Cost Value (Dollars in thousands) Due in One Year or Less $ 1,535 $ 1,536 Due after One Year through Five Years 6,116 6,242 Due after Five Years through Ten Years 26,051 27,152 Due after Ten Years 128,530 134,194 Total $ 162,232 $ 169,124 There were no three March 31, 2020. three March 31, 2019 $60,000. |
Note 4 - Loans and Allowance fo
Note 4 - Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4. The Company’s loan portfolio consists of four March 31, 2020 December 31, 2019 Amount Percent Amount Percent (Dollars in thousands) Real Estate: Residential $ 346,864 35.5 % $ 347,766 36.6 % Commercial 354,374 36.4 351,360 36.9 Construction 50,017 5.1 35,605 3.7 Commercial and Industrial 80,721 8.3 85,586 9.0 Consumer 121,494 12.5 113,637 11.9 Other 21,180 2.2 18,542 1.9 Total Loans 974,650 100.0 % 952,496 100.0 % Allowance for Loan Losses (12,322 ) (9,867 ) Loans, Net $ 962,328 $ 942,629 The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law on March 27, 2020 $2.0 19 7 may 19 two 1% six 100% 75% 25% 1% 5% 0.75% third April 16, 2020, $349 April 23, 2020, $484 19 $310 second April 27, 2020. As part of the first 181 $38.6 $1.2 3,081 second April 29, 2020, 315 $27.6 $1.0 March 31, 2020 Total unamortized net deferred loan fees were $950,000 $907,000 March 31, 2020 December 31, 2019, Real estate loans serviced for others, which are not $101.2 $100.0 March 31, 2020 December 31, 2019, The following table presents loans summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system as of the dates indicated. At March 31, 2020 December 31, 2019, no March 31, 2020 Special Pass Mention Substandard Doubtful Total (Dollars in Thousands) Real Estate: Residential $ 342,785 $ 1,028 $ 3,051 $ - $ 346,864 Commercial 312,089 36,496 5,789 - 354,374 Construction 45,985 3,179 853 - 50,017 Commercial and Industrial 74,264 4,109 1,667 681 80,721 Consumer 121,337 - 157 - 121,494 Other 21,094 86 - - 21,180 Total Loans $ 917,554 $ 44,898 $ 11,517 $ 681 $ 974,650 December 31, 2019 Special Pass Mention Substandard Doubtful Total (Dollars in Thousands) Real Estate: Residential $ 343,851 $ 1,997 $ 1,918 $ - $ 347,766 Commercial 335,436 12,260 3,664 - 351,360 Construction 33,342 2,263 - - 35,605 Commercial and Industrial 75,201 7,975 1,691 719 85,586 Consumer 113,527 - 110 - 113,637 Other 18,452 90 - - 18,542 Total Loans $ 919,809 $ 24,585 $ 7,383 $ 719 $ 952,496 The increase of $20.3 March 31, 2020 December 31, 2019 19 $4.1 $2.3 $956,000 two The following table presents the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of the dates indicated. March 31, 2020 30-59 60-89 90 Days Loans Days Days Or More Total Non- Total Current Past Due Past Due Past Due Past Due Accrual Loans (Dollars in Thousands) Real Estate: Residential $ 340,982 $ 3,824 $ 61 $ - $ 3,885 $ 1,997 $ 346,864 Commercial 354,168 45 - - 45 161 354,374 Construction 49,177 407 433 - 840 - 50,017 Commercial and Industrial 80,007 - - - - 714 80,721 Consumer 120,442 845 50 - 895 157 121,494 Other 21,180 - - - - - 21,180 Total Loans $ 965,956 $ 5,121 $ 544 $ - $ 5,665 $ 3,029 $ 974,650 December 31, 2019 30-59 60-89 90 Days Loans Days Days Or More Total Non- Total Current Past Due Past Due Past Due Past Due Accrual Loans (Dollars in Thousands) Real Estate: Residential $ 342,010 $ 3,462 $ 281 $ 196 $ 3,939 $ 1,817 $ 347,766 Commercial 351,104 22 - - 22 234 351,360 Construction 35,605 - - - - - 35,605 Commercial and Industrial 84,280 388 178 - 566 740 85,586 Consumer 112,438 923 140 26 1,089 110 113,637 Other 18,542 - - - - - 18,542 Total Loans $ 943,979 $ 4,795 $ 599 $ 222 $ 5,616 $ 2,901 $ 952,496 The following table sets forth the amounts and categories of our nonperforming assets at the dates indicated. Included in nonperforming loans and assets are troubled debt restructurings (“TDRs”), which are loans whose contractual terms have been restructured in a manner which grants a concession to a borrower experiencing financial difficulties. Nonaccrual TDRs are included in their specific loan category in the nonaccrual loans section. March 31, December 31, 2020 2019 (Dollars in Thousands) Nonaccrual Loans: Real Estate: Residential $ 1,997 $ 1,817 Commercial 161 234 Commercial and Industrial 714 740 Consumer 157 110 Total Nonaccrual Loans 3,029 2,901 Accruing Loans Past Due 90 Days or More: Real Estate: Residential - 196 Consumer - 26 Total Accruing Loans Past Due 90 Days or More - 222 Total Nonaccrual Loans and Accruing Loans Past Due 90 Days or More 3,029 3,123 Troubled Debt Restructurings, Accruing: Real Estate Residential 503 511 Commercial 1,621 1,648 Commercial and Industrial 79 100 Total Troubled Debt Restructurings, Accruing 2,203 2,259 Total Nonperforming Loans 5,232 5,382 Other Real Estate Owned: Residential 117 41 Commercial 174 192 Total Other Real Estate Owned 291 233 Total Nonperforming Assets $ 5,523 $ 5,615 Nonperforming Loans to Total Loans 0.54 % 0.57 % Nonperforming Assets to Total Assets 0.42 0.42 The recorded investment of residential real estate loans for which formal foreclosure proceedings were in process according to applicable requirements of the local jurisdiction was $1.7 $1.1 March 31, 2020 December 31, 2019, TDRs typically are the result of loss mitigation activities whereby concessions are granted to minimize loss and avoid foreclosure or repossession of collateral. For a loan modification to be considered a TDR, the borrower must be experiencing financial difficulty and a concession must be granted, except for an insignificant delay in payment. Section 4013 19. may not 30 December 31, 2019 March 1, 2020 December 31, 2020 60 19 Banking regulatory agencies released an interagency statement that offers practical expedients for modifications that occur in response to the COVID- 19 not six 30 not 4013 4013 second first second not 4013 six The Bank offered forbearance options for borrowers impacted by COVID- 19 three not three three not not April 29, 2020. Number of Loans Amount (Dollars in thousands) Real Estate: Residential 170 $ 21,998 Commercial 98 94,101 Construction 1 7,109 Commercial and Industrial 44 13,119 Consumer 201 4,051 Other 1 2,504 Total Loans in Forbearance 515 $ 142,882 Forbearance in the commercial real estate category includes, but is not $24.2 $17.9 $15.8 $11.9 $4.7 $3.1 The concessions granted for the TDRs in the portfolio primarily consist of, but are not 16 $2.9 $3.0 March 31, 2020 December 31, 2019, For the three March 31, 2020, no For the three March 31, 2019, one one No three March 31, 2020 2019, three March 31, 2019. Three Months Ended March 31, 2019 Pre- Post- Modification Modification Number Outstanding Outstanding of Recorded Recorded Related Contracts Investment Investment Allowance (Dollars in thousands) Real Estate: Residential 1 $ 61 $ 61 $ - The following table presents a summary of the loans considered to be impaired as of the dates indicated. March 31, 2020 Unpaid Average Interest Recorded Related Principal Recorded Income Investment Allowance Balance Investment Recognized (Dollars in thousands) With No Related Allowance Recorded: Real Estate: Residential $ 1,495 $ - $ 1,500 $ 1,498 $ 17 Commercial 5,187 - 5,203 5,230 54 Construction 853 - 853 853 10 Commercial and Industrial 792 - 957 812 1 Total With No Related Allowance Recorded $ 8,327 $ - $ 8,513 $ 8,393 $ 82 With A Related Allowance Recorded: Real Estate: Commercial $ 1,619 $ 392 $ 1,619 $ 1,630 $ 19 Commercial and Industrial 1,636 259 1,636 1,648 24 Total With A Related Allowance Recorded $ 3,255 $ 651 $ 3,255 $ 3,278 $ 43 Total Impaired Loans: Real Estate: Residential $ 1,495 $ - $ 1,500 $ 1,498 $ 17 Commercial 6,806 392 6,822 6,860 73 Construction 853 - 853 853 10 Commercial and Industrial 2,428 259 2,593 2,460 25 Total Impaired Loans $ 11,582 $ 651 $ 11,768 $ 11,671 $ 125 December 31, 2019 Unpaid Average Interest Recorded Related Principal Recorded Income Investment Allowance Balance Investment Recognized (Dollars in thousands) With No Related Allowance Recorded: Real Estate: Residential $ 549 $ - $ 553 $ 494 $ 20 Commercial 3,058 - 3,077 3,335 177 Commercial and Industrial 133 - 135 156 6 Total With No Related Allowance Recorded $ 3,740 $ - $ 3,765 $ 3,985 $ 203 With A Related Allowance Recorded: Real Estate: Commercial $ 1,646 $ 274 $ 1,646 $ 1,702 $ 81 Commercial and Industrial 2,378 610 2,529 2,448 113 Total With A Related Allowance Recorded $ 4,024 $ 884 $ 4,175 $ 4,150 $ 194 Total Impaired Loans Real Estate: Residential $ 549 $ - $ 553 $ 494 $ 20 Commercial 4,704 274 4,723 5,037 258 Commercial and Industrial 2,511 610 2,664 2,604 119 Total Impaired Loans $ 7,764 $ 884 $ 7,940 $ 8,135 $ 397 The $3.8 $2.3 $956,000 $853,000 two one March 31, 2020. The following table presents the activity in the allowance for loan losses (“ALLL”) summarized by major classifications and segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for potential impairment at the dates and for the periods indicated. Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Unallocated Total (Dollars in thousands) December 31, 2019 $ 2,023 $ 3,210 $ 285 $ 2,412 $ 1,417 $ - $ 520 $ 9,867 Charge-offs (25 ) - - - (99 ) - - (124 ) Recoveries 2 14 - 9 54 - - 79 Provision 685 1,651 379 (829 ) 507 - 107 2,500 March 31, 2020 $ 2,685 $ 4,875 $ 664 $ 1,592 $ 1,879 $ - $ 627 $ 12,322 March 31, 2020 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Unallocated Total (Dollars in thousands) Individually Evaluated for Impairment $ - $ 392 $ - $ 259 $ - $ - $ - $ 651 Collectively Evaluated for Potential Impairment $ 2,685 $ 4,483 $ 664 $ 1,333 $ 1,879 $ - $ 627 $ 11,671 December 31, 2019 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Unallocated Total (Dollars in thousands) Individually Evaluated for Impairment $ - $ 274 $ - $ 610 $ - $ - $ - $ 884 Collectively Evaluated for Potential Impairment $ 2,023 $ 2,936 $ 285 $ 1,802 $ 1,417 $ - $ 520 $ 8,983 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Unallocated Total (Dollars in thousands) December 31, 2018 $ 1,050 $ 2,693 $ 395 $ 2,807 $ 2,027 $ - $ 586 $ 9,558 Charge-offs - - - - (213 ) - - (213 ) Recoveries 4 13 - 1 24 - - 42 Provision 100 (156 ) 105 (255 ) (105 ) - 336 25 March 31, 2019 $ 1,154 $ 2,550 $ 500 $ 2,553 $ 1,733 $ - $ 922 $ 9,412 March 31, 2019 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Unallocated Total (Dollars in thousands) Individually Evaluated for Impairment $ - $ 199 $ - $ 784 $ - $ - $ - $ 983 Collectively Evaluated for Potential Impairment $ 1,154 $ 2,351 $ 500 $ 1,769 $ 1,733 $ - $ 922 $ 8,429 The COVID- 19 $2.5 three March 31, 2020. Prior to the quarter ended March 31, 2020, two not March 31, 2020, five no two March 31, 2020, not first 2018, $1.4 March 31, 2020 two five not one The following table presents changes in the accretable discount on the loans acquired at fair value for the dates indicated (dollars in thousands). Accretable Discount (Dollars in Thousands) December 31, 2019 $ 1,628 Accretable Yield (76 ) March 31, 2020 $ 1,552 The following table presents the major classifications of loans summarized by individually evaluated for impairment and collectively evaluated for potential impairment as of the dates indicated. March 31, 2020 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Total (Dollars in thousands) Individually Evaluated for Impairment $ 1,495 $ 6,806 $ 853 $ 2,428 $ - $ - $ 11,582 Collectively Evaluated for Potential Impairment 345,369 347,568 49,164 78,293 121,494 21,180 963,068 Total Loans $ 346,864 $ 354,374 $ 50,017 $ 80,721 $ 121,494 $ 21,180 $ 974,650 December 31, 2019 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Total (Dollars in thousands) Individually Evaluated for Impairment $ 549 $ 4,704 $ - $ 2,511 $ - $ - $ 7,764 Collectively Evaluated for Potential Impairment 347,217 346,656 35,605 83,075 113,637 18,542 944,732 Total Loans $ 347,766 $ 351,360 $ 35,605 $ 85,586 $ 113,637 $ 18,542 $ 952,496 |
Note 5 - Deposits
Note 5 - Deposits | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 5. The following table shows the maturities of time deposits for the next five March 31, 2020 (Dollars in thousands) One Year or Less $ 82,680 Over One Through Two Years 54,134 Over Two Through Three Years 37,995 Over Three Through Four Years 23,340 Over Four Through Five Years 8,173 Over Five Years 5,267 Total $ 211,589 The balance in time deposits that meet or exceed the FDIC insurance limit of $250,000 $67.2 $69.3 March 31, 2020 December 31, 2019, |
Note 6 - Short-term Borrowings
Note 6 - Short-term Borrowings | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | Note 6. The following table sets forth the components of short-term borrowings as of the dates indicated. March 31, 2020 December 31, 2019 Weighted Weighted Average Average Amount Rate Amount Rate (Dollars in thousands) Securities Sold Under Agreements to Repurchase: Balance at Period End $ 34,967 0.57 % $ 30,571 0.57 % Average Balance Outstanding During the Period 29,539 0.61 29,976 0.62 Maximum Amount Outstanding at any Month End 34,967 34,197 Securities Collaterizing the Agreements at Period-End: Carrying Value 36,168 37,584 Market Value 37,475 37,873 |
Note 7 - Other Borrowed Funds
Note 7 - Other Borrowed Funds | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 7. Other borrowed funds consist of fixed rate advances from the Federal Home Loan Bank of Pittsburgh (“FHLB”). The following table sets forth the scheduled maturities of other borrowed funds at the dates indicated. March 31, 2020 December 31, 2019 Weighted Weighted Average Average Amount Rate Amount Rate (Dollars in thousands) Due in One Year $ 5,000 2.09 % $ 6,000 1.97 % Due After One Year to Two Years 3,000 2.23 5,000 2.18 Due After Two Years to Three Years 3,000 2.41 3,000 2.41 Total $ 11,000 2.21 $ 14,000 2.14 As of March 31, 2020, $420.9 $369.8 no $147.0 March 31, 2020 December 31, 2019, no March 31, 2020 December 31, 2019. At March 31, 2020, $98.0 no $60.0 March 31, 2020, December 31, 2019, March 31, 2020, December 31, 2019, no |
Note 8 - Fair Value Disclosure
Note 8 - Fair Value Disclosure | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 8. FASB ASC 820 820 The three Level 1 Fair value is based on unadjusted quoted prices in active markets that are accessible to the Company for identical assets. These generally provide the most reliable evidence and are used to measure fair value whenever available. Level 2 Fair value is based on significant inputs, other than Level 1 2 not Level 3 Fair value is based on significant unobservable inputs. Examples of valuation methodologies that would result in Level 3 This hierarchy requires the use of observable market data when available. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The following table presents the financial assets measured at fair value on a recurring basis and reported on the Consolidated Statement of Financial Condition as of the dates indicated, by level within the fair value hierarchy. The majority of the Company’s securities are included in Level 2 2 third two no 3 three March 31, 2020 December 31, 2019. Fair Value March 31, December 31, Hierarchy 2020 2019 (Dollars in thousands) Available for Sales Securities: Debt Securities: U.S. Government Agencies Level 2 $ 8,008 $ 48,056 Obligations of States and Political Subdivisions Level 2 24,884 25,843 Mortgage-Backed Securities - Government-Sponsored Enterprises Level 2 136,232 120,776 Total Debt Securities 169,124 194,675 Marketable Equity Securities: Mutual Funds Level 1 1,013 997 Other Level 1 1,274 1,713 Total Marketable Equity Securities 2,287 2,710 Total Available-for-Sale Securities $ 171,411 $ 197,385 The following table presents the financial assets measured at fair value on a nonrecurring basis on the Consolidated Statement of Financial Condition as of the dates indicated by level within the fair value hierarchy. The table also presents the significant unobservable inputs used in the fair value measurements. Impaired loans that are collateral dependent are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral that secure the impaired loans include quoted market prices for identical assets classified as Level 1 2 3 Fair Value at Fair Value March 31, December 31, Valuation Significant Financial Asset Hierarchy 2020 2019 Techniques Unobservable Inputs Range (Dollars in thousands) Impaired Loans Level 3 $ 2,604 $ 3,140 Market Comparable Properties Marketability Discount 10% to 30% (1 ) OREO Level 3 76 58 Market Comparable Properties Marketability Discount 10% to 50% (1 ) ( 1 Impaired loans are evaluated when a loan is identified as impaired and valued at the lower of cost or fair value at that time. Fair value is measured based on the value of the collateral securing these loans and is classified as Level 3 March 31, 2020 December 31, 2019, $3.3 $4.0 $651,000 $884,000, OREO properties are evaluated at the time of acquisition and recorded at fair value, less estimated selling costs. After acquisition, OREO is recorded at the lower of cost or fair value, less estimated selling costs. The fair value of an OREO property is determined from a qualified independent appraisal and is classified as Level 3 For the three March 31, 2020, one $18,000 $4,000. two $76,000 For the three March 31, 2019, one $697,000 $33,000 one $46,000 $3,000 Financial instruments are defined as cash, evidence of an ownership in an entity, or a contract which creates an obligation or right to receive or deliver cash or another financial instrument from/to a second Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. If no may not may As certain assets such as deferred tax assets and premises and equipment are not not The following table presents the estimated fair values of the Company’s financial instruments at the dates indicated. March 31, 2020 December 31, 2019 Fair Value Carrying Fair Carrying Fair Hierarchy Value Value Value Value (Dollars in thousands) Financial Assets: Cash and Due From Banks: Interest Bearing Level 1 $ 64,004 $ 64,004 $ 68,798 $ 68,798 Non-Interest Bearing Level 1 14,095 14,095 11,419 11,419 Investment Securities: Available for Sale See Above 171,411 171,411 197,385 197,385 Loans, Net Level 3 962,328 1,004,210 942,629 961,110 Restricted Stock Level 2 3,590 3,590 3,656 3,656 Bank-Owned Life Insurance Level 2 24,361 24,361 24,222 24,222 Accrued Interest Receivable Level 2 3,274 3,274 3,297 3,297 Financial Liabilities: Deposits Level 2 1,106,640 1,116,037 1,118,359 1,128,078 Short-term Borrowings Level 2 34,967 34,967 30,571 30,571 Other Borrowed Funds Level 2 11,000 11,206 14,000 15,380 Accrued Interest Payable Level 2 863 863 987 987 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 9. The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business primarily to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby and performance letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Statement of Financial Condition. The contract amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby and performance letters of credit written is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Commitments and conditional obligations are evaluated the same as on-balance-sheet instruments but do not not no The following table presents the unused and available credit balances of financial instruments whose contracts represent credit risk at the dates indicated. March 31, December 31, 2020 2019 (Dollars in thousands) Standby Letters of Credit $ 40,906 $ 42,041 Performance Letters of Credit 2,667 2,521 Construction Mortgages 77,672 59,689 Personal Lines of Credit 6,561 6,456 Overdraft Protection Lines 6,474 6,415 Home Equity Lines of Credit 20,459 20,560 Commercial Lines of Credit 77,470 102,422 Total Commitments $ 232,209 $ 240,104 Commitments to extend credit are agreements to lend to a customer as long as there is no may not may Performance letters of credit represent conditional commitments issued by the Company to guarantee the performance of a customer to a third one |
Note 10 - Leases
Note 10 - Leases | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 10. The Company evaluates all contracts at commencement to determine if a lease is present. The Company’s lease contracts are all classified as operating leases and created operating right-of-use (“ROU”) assets and corresponding lease liabilities on the balance sheet. The leases are primarily ROU assets of land and building for branch and loan production locations. ROU assets are reported on the accrued interest and other assets line and the related lease liabilities on the accrued interest and other liabilities line on the Consolidated Statement of Financial Condition. The following tables present the ROU assets, lease expense, weighted average term, discount rate and maturity analysis of lease liabilities for operating leases for the periods indicated. Three Months Ended March 31, 2020 2019 (Dollars in thousands) Operating Lease Expense $ 116 $ 115 Variable Lease Expense 9 8 Total Lease Expense $ 125 $ 123 March 31, December 31, 2020 2019 Operating Leases: ROU Assets $ 1,205 $ 1,289 Weighted Average Lease Term in Years 7.11 7.06 Weighted Average Discount Rate 2.90 % 2.89 % March 31, 2020 Maturity Analysis: Due in One Year $ 405 Due After One Year to Two Years 292 Due After Two Years to Three Years 142 Due After Three Years to Four Years 66 Due After Four to Five Years 48 Due After Five Years 398 Total $ 1,351 Less: Present Value Discount 143 Lease Liabilities $ 1,208 |
Note 11 - Other Noninterest Exp
Note 11 - Other Noninterest Expense | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Other Operating Income and Expense [Text Block] | Note 11. The details of other noninterest expense for the Company’s consolidated statement of income for the three nine March 31, 2020 2019, Three Months Ended March 31, 2020 2019 (Dollars in thousands) Other Noninterest Expense Non-Employee Compensation $ 147 $ 140 Printing and Supplies 101 97 Postage 61 72 Telephone 167 143 Charitable Contributions 51 41 Dues and Subscriptions 76 52 Loan Expenses 145 85 Meals and Entertainment 40 55 Travel 54 35 Training 7 9 Bank Assessment 44 43 Insurance 56 53 Miscellaneous 162 159 Total Other Noninterest Expense $ 1,111 $ 984 |
Note 12 - Segment and Related I
Note 12 - Segment and Related Information | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 12. At March 31, 2020, two The following is a table of selected financial data for the Company’s subsidiaries and consolidated results at the dates and for the periods indicated. Community Bank Exchange Underwriters, Inc. CB Financial Services, Inc. Net Eliminations Consolidated (Dollars in thousands) March 31, 2020 Assets $ 1,312,732 $ 3,911 $ 151,555 $ (155,025 ) $ 1,313,173 Liabilities 1,166,590 1,424 30 (6,396 ) 1,161,648 Stockholders' equity 146,142 2,487 151,525 (148,629 ) 151,525 December 31, 2019 Assets $ 1,321,001 $ 4,076 $ 151,124 $ (154,664 ) $ 1,321,537 Liabilities 1,178,759 1,194 27 (9,540 ) 1,170,440 Stockholders' equity 142,242 2,882 151,097 (145,124 ) 151,097 Three Months Ended March 31, 2020 Interest and dividend income $ 12,313 $ 1 $ 15 $ - $ 12,329 Interest expense 1,796 - - - 1,796 Net interest income 10,517 1 15 - 10,533 Provision for loan losses 2,500 - - - 2,500 Net interest income after provision for loan losses 8,017 1 15 - 8,033 Noninterest income (loss) 1,044 1,281 (455 ) - 1,870 Noninterest expense 8,021 975 5 - 9,001 Undistributed net income of subsidiary 213 - 1,123 (1,336 ) - Income before income tax expense (benefit) 1,253 307 678 (1,336 ) 902 Income tax expense (benefit) 130 94 (95 ) - 129 Net income $ 1,123 $ 213 $ 773 $ (1,336 ) $ 773 Three Months Ended March 31, 2019 Interest and dividend income $ 12,281 $ 1 $ 1,318 $ (1,304 ) $ 12,296 Interest expense 1,862 - - - 1,862 Net interest income 10,419 1 1,318 (1,304 ) 10,434 Provision for loan losses 25 - - - 25 Net interest income after provision for loan losses 10,394 1 1,318 (1,304 ) 10,409 Noninterest income 958 1,147 8 - 2,113 Noninterest expense 7,901 975 3 - 8,879 Undistributed net income of subsidiary 118 - 1,604 (1,722 ) - Income before income tax expense 3,569 173 2,927 (3,026 ) 3,643 Income tax expense 661 55 2 - 718 Net income $ 2,908 $ 118 $ 2,925 $ (3,026 ) $ 2,925 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of CB Financial Services, Inc. (“CB Financial”) and its wholly owned subsidiary, Community Bank (the “Bank”), and the Bank’s wholly-owned subsidiary, Exchange Underwriters, Inc. (“Exchange Underwriters” or “EU”). CB Financial and the Bank are collectively referred to as the “Company”. All intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited interim financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not In the opinion of management, the accompanying unaudited interim financial statements include all adjustments considered necessary for a fair presentation of the Company’s financial position and results of operations at the dates and for the periods presented. All these adjustments are of a normal, recurring nature, and they are the only adjustments included in the accompanying unaudited interim financial statements. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto in the Company’s Annual Report on Form 10 December 31, 2019. not The Company evaluated subsequent events through the date the consolidated financial statements were filed with the SEC and incorporated into the consolidated financial statements the effect of all material known events determined by Accounting Standards Codification ("ASC”) 855, Subsequent Events |
Nature of Operations [Policy Text Block] | Nature of Operations The Company derives substantially all its income from banking and bank-related services which include interest earnings on commercial, commercial mortgage, residential real estate and consumer loan financing, as well as interest earnings on investment securities and fees generated from deposit services to its customers. The Company provides banking services through its subsidiary, Community Bank, a Pennsylvania-chartered commercial bank headquartered in Carmichaels, Pennsylvania. The Bank operates from twenty seven one |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain comparative amounts for the prior year have been reclassified to conform to the current year presentation. Such reclassifications did not |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. At March 31, 2020 December 31, 2019, $28.4 October 31 two 100% In 2019, 2017 04 one not not The COVID- 19 March 2020 19 not 19, March 31, 2020. Determining the fair value of a reporting unit under a quantitative goodwill impairment test is judgmental and often involves the use of significant estimates and assumptions. The Company utilized a market approach to determine the fair value of the Community Banking reporting unit. Significant assumptions inherent in the valuation methodologies for goodwill are employed and include, but are not 2008 2010 19 Based on the analysis, management determined that goodwill was not March 31, 2020. 19 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Standards In March 2020, ASU2020 04, Reference Rate Reform (Topic 848 not not not 2020 04 March 12, 2020 December 31, 2022. may may In August 2018, 2018 15 , Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350 40 2018 15 not first 2020 not In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13 1 2 3 2018 13 2018 13 3 3 first 2020. 3 not In January 2017, 2017 04, Intangibles - Goodwill and Other (Topic 350 2017 04 second one not not 2017 04 December 15, 2019, 2017 04 October 31, 2019 not In September 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326 2016 13 2016 13 2016 13 not 2016 13 not 2016 13 December 15, 2019, November 2019, 2016 13 January 1, 2023. one one |
Note 2 - Earnings Per Share (Ta
Note 2 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2020 2019 (Dollars in thousands, except share and per share data) Net income $ 773 $ 2,925 Weighted-Average Basic Common Shares Outstanding 5,431,199 5,432,856 Dilutive Effect of Common Stock Equivalents (Stock Options and Restricted Stock) 25,668 18,622 Weighted-Average Diluted Common Shares and Common Stock Equivalents Outstanding 5,456,867 5,451,478 Earnings per share: Basic $ 0.14 $ 0.54 Diluted 0.14 0.54 |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | March 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) Debt Securities: U.S. Government Agencies $ 7,913 $ 95 $ - $ 8,008 Obligations of States and Political Subdivisions 23,869 1,016 (1 ) 24,884 Mortgage-Backed Securities - Government-Sponsored Enterprises 130,450 5,782 - 136,232 Total Debt Securities $ 162,232 $ 6,893 $ (1 ) 169,124 Marketable Equity Securities: Mutual Funds 1,013 Other 1,274 Total Marketable Equity Securities 2,287 Total Available-for-Sale Securities $ 171,411 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) Debt Securities: U.S. Government Agencies $ 47,993 $ 227 $ (164 ) $ 48,056 Obligations of States and Political Subdivisions 25,026 819 (2 ) 25,843 Mortgage-Backed Securities - Government-Sponsored Enterprises 118,282 2,601 (107 ) 120,776 Total Debt Securities $ 191,301 $ 3,647 $ (273 ) 194,675 Marketable Equity Securities: Mutual Funds 997 Other 1,713 Total Marketable Equity Securities 2,710 Total Available-for-Sale Securities $ 197,385 |
Schedule of Unrealized Loss on Investments [Table Text Block] | March 31, 2020 Less than 12 months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized Securities Value Losses Securities Value Losses Securities Value Losses (Dollars in thousands) Obligations of States and Political Subdivisions 1 $ 509 $ (1 ) - $ - $ - 1 $ 509 $ (1 ) December 31, 2019 Less than 12 months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized Securities Value Losses Securities Value Losses Securities Value Losses (Dollars in thousands) U.S. Government Agencies 6 $ 16,116 $ (83 ) 6 $ 13,938 $ (81 ) 12 $ 30,054 $ (164 ) Obligations of States and Political Subdivisions - - - 1 509 (2 ) 1 509 (2 ) Mortgage-Backed Securities - Government Sponsored Enterprises 7 20,003 (104 ) 1 1,711 (3 ) 8 21,714 (107 ) Total 13 $ 36,119 $ (187 ) 8 $ 16,158 $ (86 ) 21 $ 52,277 $ (273 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | March 31, 2020 Amortized Fair Cost Value (Dollars in thousands) Due in One Year or Less $ 1,535 $ 1,536 Due after One Year through Five Years 6,116 6,242 Due after Five Years through Ten Years 26,051 27,152 Due after Ten Years 128,530 134,194 Total $ 162,232 $ 169,124 |
Note 4 - Loans and Allowance _2
Note 4 - Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, 2020 December 31, 2019 Amount Percent Amount Percent (Dollars in thousands) Real Estate: Residential $ 346,864 35.5 % $ 347,766 36.6 % Commercial 354,374 36.4 351,360 36.9 Construction 50,017 5.1 35,605 3.7 Commercial and Industrial 80,721 8.3 85,586 9.0 Consumer 121,494 12.5 113,637 11.9 Other 21,180 2.2 18,542 1.9 Total Loans 974,650 100.0 % 952,496 100.0 % Allowance for Loan Losses (12,322 ) (9,867 ) Loans, Net $ 962,328 $ 942,629 |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2020 Special Pass Mention Substandard Doubtful Total (Dollars in Thousands) Real Estate: Residential $ 342,785 $ 1,028 $ 3,051 $ - $ 346,864 Commercial 312,089 36,496 5,789 - 354,374 Construction 45,985 3,179 853 - 50,017 Commercial and Industrial 74,264 4,109 1,667 681 80,721 Consumer 121,337 - 157 - 121,494 Other 21,094 86 - - 21,180 Total Loans $ 917,554 $ 44,898 $ 11,517 $ 681 $ 974,650 December 31, 2019 Special Pass Mention Substandard Doubtful Total (Dollars in Thousands) Real Estate: Residential $ 343,851 $ 1,997 $ 1,918 $ - $ 347,766 Commercial 335,436 12,260 3,664 - 351,360 Construction 33,342 2,263 - - 35,605 Commercial and Industrial 75,201 7,975 1,691 719 85,586 Consumer 113,527 - 110 - 113,637 Other 18,452 90 - - 18,542 Total Loans $ 919,809 $ 24,585 $ 7,383 $ 719 $ 952,496 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2020 30-59 60-89 90 Days Loans Days Days Or More Total Non- Total Current Past Due Past Due Past Due Past Due Accrual Loans (Dollars in Thousands) Real Estate: Residential $ 340,982 $ 3,824 $ 61 $ - $ 3,885 $ 1,997 $ 346,864 Commercial 354,168 45 - - 45 161 354,374 Construction 49,177 407 433 - 840 - 50,017 Commercial and Industrial 80,007 - - - - 714 80,721 Consumer 120,442 845 50 - 895 157 121,494 Other 21,180 - - - - - 21,180 Total Loans $ 965,956 $ 5,121 $ 544 $ - $ 5,665 $ 3,029 $ 974,650 December 31, 2019 30-59 60-89 90 Days Loans Days Days Or More Total Non- Total Current Past Due Past Due Past Due Past Due Accrual Loans (Dollars in Thousands) Real Estate: Residential $ 342,010 $ 3,462 $ 281 $ 196 $ 3,939 $ 1,817 $ 347,766 Commercial 351,104 22 - - 22 234 351,360 Construction 35,605 - - - - - 35,605 Commercial and Industrial 84,280 388 178 - 566 740 85,586 Consumer 112,438 923 140 26 1,089 110 113,637 Other 18,542 - - - - - 18,542 Total Loans $ 943,979 $ 4,795 $ 599 $ 222 $ 5,616 $ 2,901 $ 952,496 |
Financing Receivable, Nonaccrual [Table Text Block] | March 31, December 31, 2020 2019 (Dollars in Thousands) Nonaccrual Loans: Real Estate: Residential $ 1,997 $ 1,817 Commercial 161 234 Commercial and Industrial 714 740 Consumer 157 110 Total Nonaccrual Loans 3,029 2,901 Accruing Loans Past Due 90 Days or More: Real Estate: Residential - 196 Consumer - 26 Total Accruing Loans Past Due 90 Days or More - 222 Total Nonaccrual Loans and Accruing Loans Past Due 90 Days or More 3,029 3,123 Troubled Debt Restructurings, Accruing: Real Estate Residential 503 511 Commercial 1,621 1,648 Commercial and Industrial 79 100 Total Troubled Debt Restructurings, Accruing 2,203 2,259 Total Nonperforming Loans 5,232 5,382 Other Real Estate Owned: Residential 117 41 Commercial 174 192 Total Other Real Estate Owned 291 233 Total Nonperforming Assets $ 5,523 $ 5,615 Nonperforming Loans to Total Loans 0.54 % 0.57 % Nonperforming Assets to Total Assets 0.42 0.42 |
Financing Receivable, Loan Forbearance [Table Text Block] | Number of Loans Amount (Dollars in thousands) Real Estate: Residential 170 $ 21,998 Commercial 98 94,101 Construction 1 7,109 Commercial and Industrial 44 13,119 Consumer 201 4,051 Other 1 2,504 Total Loans in Forbearance 515 $ 142,882 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Three Months Ended March 31, 2019 Pre- Post- Modification Modification Number Outstanding Outstanding of Recorded Recorded Related Contracts Investment Investment Allowance (Dollars in thousands) Real Estate: Residential 1 $ 61 $ 61 $ - |
Impaired Financing Receivables [Table Text Block] | March 31, 2020 Unpaid Average Interest Recorded Related Principal Recorded Income Investment Allowance Balance Investment Recognized (Dollars in thousands) With No Related Allowance Recorded: Real Estate: Residential $ 1,495 $ - $ 1,500 $ 1,498 $ 17 Commercial 5,187 - 5,203 5,230 54 Construction 853 - 853 853 10 Commercial and Industrial 792 - 957 812 1 Total With No Related Allowance Recorded $ 8,327 $ - $ 8,513 $ 8,393 $ 82 With A Related Allowance Recorded: Real Estate: Commercial $ 1,619 $ 392 $ 1,619 $ 1,630 $ 19 Commercial and Industrial 1,636 259 1,636 1,648 24 Total With A Related Allowance Recorded $ 3,255 $ 651 $ 3,255 $ 3,278 $ 43 Total Impaired Loans: Real Estate: Residential $ 1,495 $ - $ 1,500 $ 1,498 $ 17 Commercial 6,806 392 6,822 6,860 73 Construction 853 - 853 853 10 Commercial and Industrial 2,428 259 2,593 2,460 25 Total Impaired Loans $ 11,582 $ 651 $ 11,768 $ 11,671 $ 125 December 31, 2019 Unpaid Average Interest Recorded Related Principal Recorded Income Investment Allowance Balance Investment Recognized (Dollars in thousands) With No Related Allowance Recorded: Real Estate: Residential $ 549 $ - $ 553 $ 494 $ 20 Commercial 3,058 - 3,077 3,335 177 Commercial and Industrial 133 - 135 156 6 Total With No Related Allowance Recorded $ 3,740 $ - $ 3,765 $ 3,985 $ 203 With A Related Allowance Recorded: Real Estate: Commercial $ 1,646 $ 274 $ 1,646 $ 1,702 $ 81 Commercial and Industrial 2,378 610 2,529 2,448 113 Total With A Related Allowance Recorded $ 4,024 $ 884 $ 4,175 $ 4,150 $ 194 Total Impaired Loans Real Estate: Residential $ 549 $ - $ 553 $ 494 $ 20 Commercial 4,704 274 4,723 5,037 258 Commercial and Industrial 2,511 610 2,664 2,604 119 Total Impaired Loans $ 7,764 $ 884 $ 7,940 $ 8,135 $ 397 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Unallocated Total (Dollars in thousands) December 31, 2019 $ 2,023 $ 3,210 $ 285 $ 2,412 $ 1,417 $ - $ 520 $ 9,867 Charge-offs (25 ) - - - (99 ) - - (124 ) Recoveries 2 14 - 9 54 - - 79 Provision 685 1,651 379 (829 ) 507 - 107 2,500 March 31, 2020 $ 2,685 $ 4,875 $ 664 $ 1,592 $ 1,879 $ - $ 627 $ 12,322 March 31, 2020 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Unallocated Total (Dollars in thousands) Individually Evaluated for Impairment $ - $ 392 $ - $ 259 $ - $ - $ - $ 651 Collectively Evaluated for Potential Impairment $ 2,685 $ 4,483 $ 664 $ 1,333 $ 1,879 $ - $ 627 $ 11,671 December 31, 2019 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Unallocated Total (Dollars in thousands) Individually Evaluated for Impairment $ - $ 274 $ - $ 610 $ - $ - $ - $ 884 Collectively Evaluated for Potential Impairment $ 2,023 $ 2,936 $ 285 $ 1,802 $ 1,417 $ - $ 520 $ 8,983 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Unallocated Total (Dollars in thousands) December 31, 2018 $ 1,050 $ 2,693 $ 395 $ 2,807 $ 2,027 $ - $ 586 $ 9,558 Charge-offs - - - - (213 ) - - (213 ) Recoveries 4 13 - 1 24 - - 42 Provision 100 (156 ) 105 (255 ) (105 ) - 336 25 March 31, 2019 $ 1,154 $ 2,550 $ 500 $ 2,553 $ 1,733 $ - $ 922 $ 9,412 March 31, 2019 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Unallocated Total (Dollars in thousands) Individually Evaluated for Impairment $ - $ 199 $ - $ 784 $ - $ - $ - $ 983 Collectively Evaluated for Potential Impairment $ 1,154 $ 2,351 $ 500 $ 1,769 $ 1,733 $ - $ 922 $ 8,429 |
Schedule of Accretable Discount on Loans Acquired at Fair Value [Table Text Block] | Accretable Discount (Dollars in Thousands) December 31, 2019 $ 1,628 Accretable Yield (76 ) March 31, 2020 $ 1,552 |
Allowance for Credit Loss Individually Collectively Evaluated for Impairment [Table Text Block] | March 31, 2020 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Total (Dollars in thousands) Individually Evaluated for Impairment $ 1,495 $ 6,806 $ 853 $ 2,428 $ - $ - $ 11,582 Collectively Evaluated for Potential Impairment 345,369 347,568 49,164 78,293 121,494 21,180 963,068 Total Loans $ 346,864 $ 354,374 $ 50,017 $ 80,721 $ 121,494 $ 21,180 $ 974,650 December 31, 2019 Real Real Real Commercial Estate Estate Estate and Residential Commercial Construction Industrial Consumer Other Total (Dollars in thousands) Individually Evaluated for Impairment $ 549 $ 4,704 $ - $ 2,511 $ - $ - $ 7,764 Collectively Evaluated for Potential Impairment 347,217 346,656 35,605 83,075 113,637 18,542 944,732 Total Loans $ 347,766 $ 351,360 $ 35,605 $ 85,586 $ 113,637 $ 18,542 $ 952,496 |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Time Deposit Maturities [Table Text Block] | March 31, 2020 (Dollars in thousands) One Year or Less $ 82,680 Over One Through Two Years 54,134 Over Two Through Three Years 37,995 Over Three Through Four Years 23,340 Over Four Through Five Years 8,173 Over Five Years 5,267 Total $ 211,589 |
Note 6 - Short-term Borrowings
Note 6 - Short-term Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | March 31, 2020 December 31, 2019 Weighted Weighted Average Average Amount Rate Amount Rate (Dollars in thousands) Securities Sold Under Agreements to Repurchase: Balance at Period End $ 34,967 0.57 % $ 30,571 0.57 % Average Balance Outstanding During the Period 29,539 0.61 29,976 0.62 Maximum Amount Outstanding at any Month End 34,967 34,197 Securities Collaterizing the Agreements at Period-End: Carrying Value 36,168 37,584 Market Value 37,475 37,873 |
Note 7 - Other Borrowed Funds (
Note 7 - Other Borrowed Funds (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | March 31, 2020 December 31, 2019 Weighted Weighted Average Average Amount Rate Amount Rate (Dollars in thousands) Due in One Year $ 5,000 2.09 % $ 6,000 1.97 % Due After One Year to Two Years 3,000 2.23 5,000 2.18 Due After Two Years to Three Years 3,000 2.41 3,000 2.41 Total $ 11,000 2.21 $ 14,000 2.14 |
Note 8 - Fair Value Disclosure
Note 8 - Fair Value Disclosure (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value March 31, December 31, Hierarchy 2020 2019 (Dollars in thousands) Available for Sales Securities: Debt Securities: U.S. Government Agencies Level 2 $ 8,008 $ 48,056 Obligations of States and Political Subdivisions Level 2 24,884 25,843 Mortgage-Backed Securities - Government-Sponsored Enterprises Level 2 136,232 120,776 Total Debt Securities 169,124 194,675 Marketable Equity Securities: Mutual Funds Level 1 1,013 997 Other Level 1 1,274 1,713 Total Marketable Equity Securities 2,287 2,710 Total Available-for-Sale Securities $ 171,411 $ 197,385 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Fair Value at Fair Value March 31, December 31, Valuation Significant Financial Asset Hierarchy 2020 2019 Techniques Unobservable Inputs Range (Dollars in thousands) Impaired Loans Level 3 $ 2,604 $ 3,140 Market Comparable Properties Marketability Discount 10% to 30% (1 ) OREO Level 3 76 58 Market Comparable Properties Marketability Discount 10% to 50% (1 ) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2020 December 31, 2019 Fair Value Carrying Fair Carrying Fair Hierarchy Value Value Value Value (Dollars in thousands) Financial Assets: Cash and Due From Banks: Interest Bearing Level 1 $ 64,004 $ 64,004 $ 68,798 $ 68,798 Non-Interest Bearing Level 1 14,095 14,095 11,419 11,419 Investment Securities: Available for Sale See Above 171,411 171,411 197,385 197,385 Loans, Net Level 3 962,328 1,004,210 942,629 961,110 Restricted Stock Level 2 3,590 3,590 3,656 3,656 Bank-Owned Life Insurance Level 2 24,361 24,361 24,222 24,222 Accrued Interest Receivable Level 2 3,274 3,274 3,297 3,297 Financial Liabilities: Deposits Level 2 1,106,640 1,116,037 1,118,359 1,128,078 Short-term Borrowings Level 2 34,967 34,967 30,571 30,571 Other Borrowed Funds Level 2 11,000 11,206 14,000 15,380 Accrued Interest Payable Level 2 863 863 987 987 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | March 31, December 31, 2020 2019 (Dollars in thousands) Standby Letters of Credit $ 40,906 $ 42,041 Performance Letters of Credit 2,667 2,521 Construction Mortgages 77,672 59,689 Personal Lines of Credit 6,561 6,456 Overdraft Protection Lines 6,474 6,415 Home Equity Lines of Credit 20,459 20,560 Commercial Lines of Credit 77,470 102,422 Total Commitments $ 232,209 $ 240,104 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Operating Leases [Table Text Block] | Three Months Ended March 31, 2020 2019 (Dollars in thousands) Operating Lease Expense $ 116 $ 115 Variable Lease Expense 9 8 Total Lease Expense $ 125 $ 123 March 31, December 31, 2020 2019 Operating Leases: ROU Assets $ 1,205 $ 1,289 Weighted Average Lease Term in Years 7.11 7.06 Weighted Average Discount Rate 2.90 % 2.89 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | March 31, 2020 Maturity Analysis: Due in One Year $ 405 Due After One Year to Two Years 292 Due After Two Years to Three Years 142 Due After Three Years to Four Years 66 Due After Four to Five Years 48 Due After Five Years 398 Total $ 1,351 Less: Present Value Discount 143 Lease Liabilities $ 1,208 |
Note 11 - Other Noninterest E_2
Note 11 - Other Noninterest Expense (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | Three Months Ended March 31, 2020 2019 (Dollars in thousands) Other Noninterest Expense Non-Employee Compensation $ 147 $ 140 Printing and Supplies 101 97 Postage 61 72 Telephone 167 143 Charitable Contributions 51 41 Dues and Subscriptions 76 52 Loan Expenses 145 85 Meals and Entertainment 40 55 Travel 54 35 Training 7 9 Bank Assessment 44 43 Insurance 56 53 Miscellaneous 162 159 Total Other Noninterest Expense $ 1,111 $ 984 |
Note 12 - Segment and Related_2
Note 12 - Segment and Related Information (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Community Bank Exchange Underwriters, Inc. CB Financial Services, Inc. Net Eliminations Consolidated (Dollars in thousands) March 31, 2020 Assets $ 1,312,732 $ 3,911 $ 151,555 $ (155,025 ) $ 1,313,173 Liabilities 1,166,590 1,424 30 (6,396 ) 1,161,648 Stockholders' equity 146,142 2,487 151,525 (148,629 ) 151,525 December 31, 2019 Assets $ 1,321,001 $ 4,076 $ 151,124 $ (154,664 ) $ 1,321,537 Liabilities 1,178,759 1,194 27 (9,540 ) 1,170,440 Stockholders' equity 142,242 2,882 151,097 (145,124 ) 151,097 Three Months Ended March 31, 2020 Interest and dividend income $ 12,313 $ 1 $ 15 $ - $ 12,329 Interest expense 1,796 - - - 1,796 Net interest income 10,517 1 15 - 10,533 Provision for loan losses 2,500 - - - 2,500 Net interest income after provision for loan losses 8,017 1 15 - 8,033 Noninterest income (loss) 1,044 1,281 (455 ) - 1,870 Noninterest expense 8,021 975 5 - 9,001 Undistributed net income of subsidiary 213 - 1,123 (1,336 ) - Income before income tax expense (benefit) 1,253 307 678 (1,336 ) 902 Income tax expense (benefit) 130 94 (95 ) - 129 Net income $ 1,123 $ 213 $ 773 $ (1,336 ) $ 773 Three Months Ended March 31, 2019 Interest and dividend income $ 12,281 $ 1 $ 1,318 $ (1,304 ) $ 12,296 Interest expense 1,862 - - - 1,862 Net interest income 10,419 1 1,318 (1,304 ) 10,434 Provision for loan losses 25 - - - 25 Net interest income after provision for loan losses 10,394 1 1,318 (1,304 ) 10,409 Noninterest income 958 1,147 8 - 2,113 Noninterest expense 7,901 975 3 - 8,879 Undistributed net income of subsidiary 118 - 1,604 (1,722 ) - Income before income tax expense 3,569 173 2,927 (3,026 ) 3,643 Income tax expense 661 55 2 - 718 Net income $ 2,908 $ 118 $ 2,925 $ (3,026 ) $ 2,925 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Mar. 31, 2019USD ($) | |
Goodwill, Ending Balance | $ 28,425 | $ 28,425 | $ 28,400 |
Number of Reporting Units | 2 | ||
Goodwill, Impairment Loss | $ 0 |
Note 2 - Earnings Per Share (De
Note 2 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Incremental Common Shares Attributable to Conversion of Debt Securities, Total (in shares) | 0 | 0 |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 78,545 | 83,688 |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 30,250 | 0 |
Note 2 - Earnings Per Share - B
Note 2 - Earnings Per Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net Income | $ 773 | $ 2,925 |
Basic (in shares) | 5,431,199 | 5,432,856 |
Dilutive Effect of Common Stock Equivalents (Stock Options and Restricted Stock) (in shares) | 25,668 | 18,622 |
Weighted-Average Diluted Common Shares and Common Stock Equivalents Outstanding (in shares) | 5,456,867 | 5,451,478 |
EARNINGS PER SHARE | ||
Basic (in dollars per share) | $ 0.14 | $ 0.54 |
Diluted (in dollars per share) | $ 0.14 | $ 0.54 |
Note 3 - Investment Securitie_2
Note 3 - Investment Securities (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held, Ending Balance | $ 0 | $ 0 | |
Equity Securities, FV-NI, Realized Gain (Loss), Total | 0 | $ 0 | |
Proceeds from Sale of Debt Securities, Available-for-sale | $ 0 | ||
Debt Securities, Available-for-sale, Realized Loss | $ 60,000 |
Note 3 - Investment Securitie_3
Note 3 - Investment Securities - Amortized Cost and Fair Value of Investment Securities Available-for-sale (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Securities available-for-sale, amortized cost | $ 162,232 | $ 191,301 |
Securities available-for-sale, gross unrealized gains | 6,893 | 3,647 |
Securities available-for-sale, gross unrealized losses | (1) | (273) |
Securities available-for-sale, fair value | 169,124 | 194,675 |
Equity securities | 2,287 | 2,710 |
Total Available-for-Sale Securities | 171,411 | 197,385 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 7,913 | 47,993 |
Securities available-for-sale, gross unrealized gains | 95 | 227 |
Securities available-for-sale, gross unrealized losses | (164) | |
Securities available-for-sale, fair value | 8,008 | 48,056 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 23,869 | 25,026 |
Securities available-for-sale, gross unrealized gains | 1,016 | 819 |
Securities available-for-sale, gross unrealized losses | (1) | (2) |
Securities available-for-sale, fair value | 24,884 | 25,843 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale, amortized cost | 130,450 | 118,282 |
Securities available-for-sale, gross unrealized gains | 5,782 | 2,601 |
Securities available-for-sale, gross unrealized losses | (107) | |
Securities available-for-sale, fair value | 136,232 | 120,776 |
Equity Securities - Mutual Funds [Member] | ||
Equity securities | 1,013 | 997 |
Other [Member] | ||
Equity securities | $ 1,274 | $ 1,713 |
Note 3 - Investment Securitie_4
Note 3 - Investment Securities - Gross Unrealized Losses and Fair Value by Investment Category and Continuous Unrealized Loss Position (Details) $ in Thousands | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Securities in continuous unrealized loss position, less than twelve months, number of securities | 13 | |
Securities in continuous unrealized loss position, less than twelve months, fair value | $ 36,119 | |
Securities in continuous unrealized loss position, less than twelve months, gross unrealized losses | $ (187) | |
Securities in continuous unrealized loss position, twelve months or more, number of securities | 8 | |
Securities in continuous unrealized loss position, twelve months or more, fair value | $ 16,158 | |
Securities in continuous unrealized loss position, twelve months or more, gross unrealized losses | $ (86) | |
Securities in continuous unrealized loss position, number of securities | 21 | |
Securities in continuous unrealized loss position, fair value | $ 52,277 | |
Securities in continuous unrealized loss position, gross unrealized losses | $ (273) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities in continuous unrealized loss position, less than twelve months, number of securities | 1 | |
Securities in continuous unrealized loss position, less than twelve months, fair value | $ 509 | |
Securities in continuous unrealized loss position, less than twelve months, gross unrealized losses | $ (1) | |
Securities in continuous unrealized loss position, twelve months or more, number of securities | 1 | |
Securities in continuous unrealized loss position, twelve months or more, fair value | $ 509 | |
Securities in continuous unrealized loss position, twelve months or more, gross unrealized losses | $ (2) | |
Securities in continuous unrealized loss position, number of securities | 1 | 1 |
Securities in continuous unrealized loss position, fair value | $ 509 | $ 509 |
Securities in continuous unrealized loss position, gross unrealized losses | $ (1) | $ (2) |
US Government Agencies Debt Securities [Member] | ||
Securities in continuous unrealized loss position, less than twelve months, number of securities | 6 | |
Securities in continuous unrealized loss position, less than twelve months, fair value | $ 16,116 | |
Securities in continuous unrealized loss position, less than twelve months, gross unrealized losses | $ (83) | |
Securities in continuous unrealized loss position, twelve months or more, number of securities | 6 | |
Securities in continuous unrealized loss position, twelve months or more, fair value | $ 13,938 | |
Securities in continuous unrealized loss position, twelve months or more, gross unrealized losses | $ (81) | |
Securities in continuous unrealized loss position, number of securities | 12 | |
Securities in continuous unrealized loss position, fair value | $ 30,054 | |
Securities in continuous unrealized loss position, gross unrealized losses | $ (164) | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities in continuous unrealized loss position, less than twelve months, number of securities | 7 | |
Securities in continuous unrealized loss position, less than twelve months, fair value | $ 20,003 | |
Securities in continuous unrealized loss position, less than twelve months, gross unrealized losses | $ (104) | |
Securities in continuous unrealized loss position, twelve months or more, number of securities | 1 | |
Securities in continuous unrealized loss position, twelve months or more, fair value | $ 1,711 | |
Securities in continuous unrealized loss position, twelve months or more, gross unrealized losses | $ (3) | |
Securities in continuous unrealized loss position, number of securities | 8 | |
Securities in continuous unrealized loss position, fair value | $ 21,714 | |
Securities in continuous unrealized loss position, gross unrealized losses | $ (107) |
Note 3 - Investment Securitie_5
Note 3 - Investment Securities - Maturities of Investment Securities Available-for-sale and Held-to-maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Due in one year or less, amortized cost | $ 1,535 | |
Due in one year or less, fair value | 1,536 | |
Due after one year through five years, amortized cost | 6,116 | |
Due after one year through five years, fair value | 6,242 | |
Due after five years through ten years, amortized cost | 26,051 | |
Due after five years through ten years, fair value | 27,152 | |
Due after ten years, amortized cost | 128,530 | |
Due after ten years, fair value | 134,194 | |
Total, amortized cost | 162,232 | $ 191,301 |
Total, fair value | $ 169,124 | $ 194,675 |
Note 4 - Loans and Allowance _3
Note 4 - Loans and Allowance for Loan Losses (Details Textual) | 1 Months Ended | 3 Months Ended | ||||
Apr. 30, 2020 | Apr. 29, 2020USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2019USD ($) | |
Loans and Leases Receivable, Gross, Total | $ 974,650,000 | $ 952,496,000 | ||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | 950,000 | 907,000 | ||||
Real Estate Loans Serviced for Others | 101,200,000 | 100,000,000 | ||||
Mortgage Loans in Process of Foreclosure, Amount | $ 1,700,000 | $ 1,100,000 | ||||
Financing Receivable, TDRs, Number of Contracts | 16 | 16 | ||||
Financing Receivable, Troubled Debt Restructuring | $ 2,900,000 | $ 3,000,000 | ||||
Financing Receivable, Modifications, Number of Termed Out | 0 | |||||
Financing Receivable, Modifications, Number of Contracts Paid Off | 0 | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | ||||
Increase (Decrease) in Impaired Financing Receivable, Recorded Investment | $ 3,800,000 | |||||
Provision for Loan and Lease Losses, Total | 2,500,000 | $ 25,000 | ||||
Unlikely to be Collected Financing Receivable [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 0 | 0 | ||||
Special Mention [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 44,898,000 | 24,585,000 | ||||
Increase (Decrease) in Loans and Leases Receivable | 20,300,000 | |||||
Substandard [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 11,517,000 | 7,383,000 | ||||
Increase (Decrease) in Loans and Leases Receivable | 4,100,000 | |||||
COVID-19 [Member] | ||||||
Provision for Loan and Lease Losses, Total | 2,500,000 | |||||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 80,721,000 | 85,586,000 | ||||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Special Mention [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 4,109,000 | 7,975,000 | ||||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Substandard [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 1,667,000 | 1,691,000 | ||||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Substandard [Member] | Loans with Lease Disputes [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 2,300,000 | |||||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset Originated [Member] | First Round of Paycheck Protection Program [Member] | ||||||
Financing Receivable, Number of Contracts | 181 | |||||
Loans and Leases Receivable, Gross, Total | $ 38,600,000 | |||||
Loan Processing Fee Income | $ 1,200,000 | |||||
Small Business Employees Impacted by Approved Loans | 3,081 | |||||
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 354,374,000 | 351,360,000 | ||||
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Special Mention [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 36,496,000 | 12,260,000 | ||||
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Substandard [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 5,789,000 | 3,664,000 | ||||
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 346,864,000 | 347,766,000 | ||||
Financing Receivable, Modifications, Number of Termed Out | 1 | |||||
Financing Receivable, Modifications, Number of Contracts Paid Off | 1 | |||||
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Special Mention [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 1,028,000 | 1,997,000 | ||||
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Substandard [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 3,051,000 | 1,918,000 | ||||
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Substandard [Member] | Loans with Insufficient Debt Service Coverage [Member] | ||||||
Financing Receivable, Number of Contracts | 2 | |||||
Loans and Leases Receivable, Gross, Total | $ 956,000 | |||||
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 50,017,000 | 35,605,000 | ||||
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Special Mention [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 3,179,000 | 2,263,000 | ||||
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Substandard [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 853,000 | |||||
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Substandard [Member] | Loans with Insufficient Debt Service Coverage [Member] | ||||||
Financing Receivable, Number of Contracts | 1 | |||||
Loans and Leases Receivable, Gross, Total | $ 853,000 | |||||
Commercial and Industrial Segment [Member] | ||||||
Allowance for Loan and Lease Losses, Write-offs | $ 1,400,000 | |||||
Subsequent Event [Member] | ||||||
Servicing Agent Fee, Percentage | 0.75% | |||||
Loans and Leases Receivable in Forbearance, Gross | $ 142,882,000 | |||||
Subsequent Event [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | ||||||
Loans and Leases Receivable in Forbearance, Gross | $ 13,119,000 | |||||
Subsequent Event [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset Originated [Member] | Second Round of the Paycheck Protection Program [Member] | ||||||
Financing Receivable, Number of Contracts | 315 | |||||
Loans and Leases Receivable, Gross, Total | $ 27,600,000 | |||||
Loan Processing Fee Income | 1,000,000 | |||||
Subsequent Event [Member] | Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | ||||||
Loans and Leases Receivable in Forbearance, Gross | 94,101,000 | |||||
Subsequent Event [Member] | Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Retail Space [Member] | ||||||
Loans and Leases Receivable in Forbearance, Gross | 24,200,000 | |||||
Subsequent Event [Member] | Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Nonowner Occupied Multi-family Apartments [Member] | ||||||
Loans and Leases Receivable in Forbearance, Gross | 17,900,000 | |||||
Subsequent Event [Member] | Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Hotels [Member] | ||||||
Loans and Leases Receivable in Forbearance, Gross | 15,800,000 | |||||
Subsequent Event [Member] | Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Warehouse Space [Member] | ||||||
Loans and Leases Receivable in Forbearance, Gross | 11,900,000 | |||||
Subsequent Event [Member] | Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Business Dependent on Oil and Gas Industry [Member] | ||||||
Loans and Leases Receivable in Forbearance, Gross | 4,700,000 | |||||
Subsequent Event [Member] | Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Hotels in Proximity to Oil and Gas Related Activity [Member] | ||||||
Loans and Leases Receivable in Forbearance, Gross | 3,100,000 | |||||
Subsequent Event [Member] | Residential Portfolio Segment [Member] | Real Estate Sector [Member] | ||||||
Loans and Leases Receivable in Forbearance, Gross | 21,998,000 | |||||
Subsequent Event [Member] | Construction Portfolio Segment [Member] | Real Estate Sector [Member] | ||||||
Loans and Leases Receivable in Forbearance, Gross | $ 7,109,000 |
Note 4 - Loans and Allowance _4
Note 4 - Loans and Allowance for Loan Loss - Composition of Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Loans | $ 974,650 | $ 952,496 |
Loans, percent | 100.00% | 100.00% |
Allowance for loan losses | $ (12,322) | $ (9,867) |
Loans, Net | 962,328 | 942,629 |
Originated Loans [Member] | ||
Allowance for loan losses | (12,322) | (9,867) |
Loans, Net | 962,328 | 942,629 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Loans | 346,864 | 347,766 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Originated Loans [Member] | ||
Loans | $ 346,864 | $ 347,766 |
Loans, percent | 35.50% | 36.60% |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Loans | $ 354,374 | $ 351,360 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Originated Loans [Member] | ||
Loans | $ 354,374 | $ 351,360 |
Loans, percent | 36.40% | 36.90% |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | ||
Loans | $ 80,721 | $ 85,586 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Originated Loans [Member] | ||
Loans | $ 80,721 | $ 85,586 |
Loans, percent | 8.30% | 9.00% |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Loans | $ 50,017 | $ 35,605 |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Originated Loans [Member] | ||
Loans | $ 50,017 | $ 35,605 |
Loans, percent | 5.10% | 3.70% |
Consumer Portfolio Segment [Member] | ||
Loans | $ 121,494 | $ 113,637 |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | ||
Loans | $ 121,494 | $ 113,637 |
Loans, percent | 12.50% | 11.90% |
Unallocated Financing Receivables [Member] | Originated Loans [Member] | ||
Loans | $ 21,180 | $ 18,542 |
Loans, percent | 2.20% | 1.90% |
Note 4 - Loans and Allowance _5
Note 4 - Loans and Allowance for Loan Losses - Credit Quality Information (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Loans | $ 974,650 | $ 952,496 |
Pass [Member] | ||
Loans | 917,554 | 919,809 |
Special Mention [Member] | ||
Loans | 44,898 | 24,585 |
Substandard [Member] | ||
Loans | 11,517 | 7,383 |
Doubtful [Member] | ||
Loans | 681 | 719 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Loans | 346,864 | 347,766 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Pass [Member] | ||
Loans | 342,785 | 343,851 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Special Mention [Member] | ||
Loans | 1,028 | 1,997 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Substandard [Member] | ||
Loans | 3,051 | 1,918 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Doubtful [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Loans | 354,374 | 351,360 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Pass [Member] | ||
Loans | 312,089 | 335,436 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Special Mention [Member] | ||
Loans | 36,496 | 12,260 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Substandard [Member] | ||
Loans | 5,789 | 3,664 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Doubtful [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | ||
Loans | 80,721 | 85,586 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Pass [Member] | ||
Loans | 74,264 | 75,201 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Special Mention [Member] | ||
Loans | 4,109 | 7,975 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Substandard [Member] | ||
Loans | 1,667 | 1,691 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Doubtful [Member] | ||
Loans | 681 | 719 |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Loans | 50,017 | 35,605 |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Pass [Member] | ||
Loans | 45,985 | 33,342 |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Special Mention [Member] | ||
Loans | 3,179 | 2,263 |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Substandard [Member] | ||
Loans | 853 | |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Doubtful [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | ||
Loans | 121,494 | 113,637 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 121,337 | 113,527 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 157 | 110 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | ||
Other Portfolio Segment [Member] | ||
Loans | 21,180 | 18,542 |
Other Portfolio Segment [Member] | Pass [Member] | ||
Loans | 21,094 | 18,452 |
Other Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 86 | 90 |
Other Portfolio Segment [Member] | Substandard [Member] | ||
Loans | ||
Other Portfolio Segment [Member] | Doubtful [Member] | ||
Loans |
Note 4 - Loans and Allowance _6
Note 4 - Loans and Allowance for Loan Losses - Loans by Aging Categories (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Loans current | $ 965,956 | $ 943,979 |
Past due | 5,665 | 5,616 |
Nonaccrual loans | 3,029 | 2,901 |
Loans | 974,650 | 952,496 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 5,121 | 4,795 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 544 | 599 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 222 | |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Loans current | 340,982 | 342,010 |
Past due | 3,885 | 3,939 |
Nonaccrual loans | 1,997 | 1,817 |
Loans | 346,864 | 347,766 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 3,824 | 3,462 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 61 | 281 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 196 | |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Loans current | 354,168 | 351,104 |
Past due | 45 | 22 |
Nonaccrual loans | 161 | 234 |
Loans | 354,374 | 351,360 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 45 | 22 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | ||
Loans current | 80,007 | 84,280 |
Past due | 566 | |
Nonaccrual loans | 714 | 740 |
Loans | 80,721 | 85,586 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 388 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 178 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | ||
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Loans current | 49,177 | 35,605 |
Past due | 840 | |
Nonaccrual loans | ||
Loans | 50,017 | 35,605 |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 407 | |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 433 | |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | ||
Consumer Portfolio Segment [Member] | ||
Loans current | 120,442 | 112,438 |
Past due | 895 | 1,089 |
Nonaccrual loans | 157 | 110 |
Loans | 121,494 | 113,637 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 845 | 923 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 50 | 140 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 26 | |
Other Portfolio Segment [Member] | ||
Loans current | 21,180 | 18,542 |
Past due | ||
Nonaccrual loans | ||
Loans | 21,180 | 18,542 |
Other Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | ||
Other Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | ||
Other Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due |
Note 4 - Loans and Allowance _7
Note 4 - Loans and Allowance for Loan Loss - Nonperforming Assets (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Nonaccrual loans | $ 3,029,000 | $ 2,901,000 |
Accruing loans past due 90 days or more | 222,000 | |
Nonperforming loans | 2,900,000 | 3,000,000 |
Total Nonperforming Loans | 974,650,000 | 952,496,000 |
Total Nonperforming Assets | $ 1,313,173,000 | $ 1,321,537,000 |
Nonperforming Loans to Total Loans | 0.54% | 0.57% |
Nonperforming Assets to Total Assets | 0.42% | 0.42% |
Nonperforming Financial Instruments [Member] | ||
Accruing loans past due 90 days or more | $ 3,029,000 | $ 3,123,000 |
Nonperforming loans | 2,203,000 | 2,259,000 |
Total Nonperforming Loans | 5,232,000 | 5,382,000 |
Total Real Estate Owned | 291,000 | 233,000 |
Total Nonperforming Assets | 5,523,000 | 5,615,000 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Nonaccrual loans | 1,997,000 | 1,817,000 |
Accruing loans past due 90 days or more | 196,000 | |
Total Nonperforming Loans | 346,864,000 | 347,766,000 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | Nonperforming Financial Instruments [Member] | ||
Nonperforming loans | 503,000 | 511,000 |
Total Real Estate Owned | 117,000 | 41,000 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Nonaccrual loans | 161,000 | 234,000 |
Total Nonperforming Loans | 354,374,000 | 351,360,000 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | Nonperforming Financial Instruments [Member] | ||
Nonperforming loans | 1,621,000 | 1,648,000 |
Total Real Estate Owned | 174,000 | 192,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | ||
Nonaccrual loans | 714,000 | 740,000 |
Total Nonperforming Loans | 80,721,000 | 85,586,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Nonperforming Financial Instruments [Member] | ||
Nonaccrual loans | 79,000 | 100,000 |
Consumer Portfolio Segment [Member] | ||
Nonaccrual loans | 157,000 | 110,000 |
Accruing loans past due 90 days or more | 26,000 | |
Total Nonperforming Loans | $ 121,494,000 | $ 113,637,000 |
Note 4 - Loans and Allowance _8
Note 4 - Loans and Allowance for Loan Losses - Loans in Forbearance (Details) - Subsequent Event [Member] $ in Thousands | Apr. 29, 2020USD ($) |
Number of loans in forbearance | 515 |
Amount of loans in forbearance | $ 142,882 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | |
Number of loans in forbearance | 170 |
Amount of loans in forbearance | $ 21,998 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | |
Number of loans in forbearance | 98 |
Amount of loans in forbearance | $ 94,101 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | |
Number of loans in forbearance | 44 |
Amount of loans in forbearance | $ 13,119 |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | |
Number of loans in forbearance | 1 |
Amount of loans in forbearance | $ 7,109 |
Consumer Portfolio Segment [Member] | |
Number of loans in forbearance | 201 |
Amount of loans in forbearance | $ 4,051 |
Unallocated Financing Receivables [Member] | |
Number of loans in forbearance | 1 |
Amount of loans in forbearance | $ 2,504 |
Note 4 - Loans and Allowance _9
Note 4 - Loans and Allowance for Loan Losses - Loans Classified as TDRs (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019USD ($) | |
Number of contracts | 0 | |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Number of contracts | 1 | |
Pre-modification outstanding recorded investment | $ 61 | |
Post-modification outstanding recorded investment | 61 | |
Related allowance |
Note 4 - Loans and Allowance_10
Note 4 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Recorded investment, with no related allowance | $ 8,327,000 | $ 3,740,000 |
Unpaid principal balance, with no related allowance | 8,513,000 | 3,765,000 |
Average recorded investment, with no related allowance | 8,393,000 | 3,985,000 |
Interest income recognized, with no related allowance | 82,000 | 203,000 |
Recorded investment, with a related allowance | 3,255,000 | 4,024,000 |
Related allowance | 651,000 | 884,000 |
Unpaid principal balance, with a related allowance | 3,255,000 | 4,175,000 |
Average recorded investment, with a related allowance | 3,278,000 | 4,150,000 |
Interest income recognized, with a related allowance | 43,000 | 194,000 |
Recorded investment | 11,582,000 | 7,764,000 |
Unpaid principal balance | 11,768,000 | 7,940,000 |
Average recorded investment | 11,671,000 | 8,135,000 |
Interest income recognized | 125,000 | 397,000 |
Commercial and Industrial Sector [Member] | ||
Recorded investment, with no related allowance | 792,000 | 133,000 |
Unpaid principal balance, with no related allowance | 957,000 | 135,000 |
Average recorded investment, with no related allowance | 812,000 | 156,000 |
Interest income recognized, with no related allowance | 1,000 | 6,000 |
Recorded investment, with a related allowance | 1,636,000 | 2,378,000 |
Related allowance | 259,000 | 610,000 |
Unpaid principal balance, with a related allowance | 1,636,000 | 2,529,000 |
Average recorded investment, with a related allowance | 1,648,000 | 2,448,000 |
Interest income recognized, with a related allowance | 24,000 | 113,000 |
Recorded investment | 2,428,000 | 2,511,000 |
Unpaid principal balance | 2,593,000 | 2,664,000 |
Average recorded investment | 2,460,000 | 2,604,000 |
Interest income recognized | 25,000 | 119,000 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Recorded investment, with no related allowance | 1,495,000 | 549,000 |
Unpaid principal balance, with no related allowance | 1,500,000 | 553,000 |
Average recorded investment, with no related allowance | 1,498,000 | 494,000 |
Interest income recognized, with no related allowance | 17,000 | 20,000 |
Related allowance | ||
Recorded investment | 1,495,000 | 549,000 |
Unpaid principal balance | 1,500,000 | 553,000 |
Average recorded investment | 1,498,000 | 494,000 |
Interest income recognized | 17,000 | 20,000 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Recorded investment, with no related allowance | 5,187,000 | 3,058,000 |
Unpaid principal balance, with no related allowance | 5,203,000 | 3,077,000 |
Average recorded investment, with no related allowance | 5,230,000 | 3,335,000 |
Interest income recognized, with no related allowance | 54,000 | 177,000 |
Recorded investment, with a related allowance | 1,619,000 | 1,646,000 |
Related allowance | 392,000 | 274,000 |
Unpaid principal balance, with a related allowance | 1,619,000 | 1,646,000 |
Average recorded investment, with a related allowance | 1,630,000 | 1,702,000 |
Interest income recognized, with a related allowance | 19,000 | 81,000 |
Recorded investment | 6,806,000 | 4,704,000 |
Unpaid principal balance | 6,822,000 | 4,723,000 |
Average recorded investment | 6,860,000 | 5,037,000 |
Interest income recognized | 73,000 | $ 258,000 |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Recorded investment, with no related allowance | 853,000 | |
Unpaid principal balance, with no related allowance | 853,000 | |
Average recorded investment, with no related allowance | 853,000 | |
Interest income recognized, with no related allowance | 10,000 | |
Related allowance | ||
Recorded investment | 853,000 | |
Unpaid principal balance | 853,000 | |
Average recorded investment | 853,000 | |
Interest income recognized | $ 10,000 |
Note 4 - Loans and Allowance_11
Note 4 - Loans and Allowance for Loan Losses - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Beginning Balance | $ 9,867 | $ 9,558 | |
Charge-offs | (124) | (213) | |
Recoveries | 79 | 42 | |
Provision | 2,500 | 25 | |
Ending Balance | 12,322 | 9,412 | |
Individually Evaluated for Impairment | 651 | 983 | $ 884 |
Collectively Evaluated for Potential Impairment | 11,671 | 8,429 | 8,983 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | |||
Beginning Balance | 2,023 | 1,050 | |
Charge-offs | (25) | ||
Recoveries | 2 | 4 | |
Provision | 685 | 100 | |
Ending Balance | 2,685 | 1,154 | |
Individually Evaluated for Impairment | |||
Collectively Evaluated for Potential Impairment | 2,685 | 1,154 | 2,023 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | |||
Beginning Balance | 3,210 | 2,693 | |
Charge-offs | |||
Recoveries | 14 | 13 | |
Provision | 1,651 | (156) | |
Ending Balance | 4,875 | 2,550 | |
Individually Evaluated for Impairment | 392 | 199 | 274 |
Collectively Evaluated for Potential Impairment | 4,483 | 2,351 | 2,936 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | |||
Beginning Balance | 2,412 | 2,807 | |
Charge-offs | |||
Recoveries | 9 | 1 | |
Provision | (829) | (255) | |
Ending Balance | 1,592 | 2,553 | |
Individually Evaluated for Impairment | 259 | 784 | 610 |
Collectively Evaluated for Potential Impairment | 1,333 | 1,769 | 1,802 |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | |||
Beginning Balance | 285 | 395 | |
Charge-offs | |||
Recoveries | |||
Provision | 379 | 105 | |
Ending Balance | 664 | 500 | |
Individually Evaluated for Impairment | |||
Collectively Evaluated for Potential Impairment | 664 | 500 | 285 |
Consumer Portfolio Segment [Member] | |||
Beginning Balance | 1,417 | 2,027 | |
Charge-offs | (99) | (213) | |
Recoveries | 54 | 24 | |
Provision | 507 | (105) | |
Ending Balance | 1,879 | 1,733 | |
Individually Evaluated for Impairment | |||
Collectively Evaluated for Potential Impairment | 1,879 | 1,733 | 1,417 |
Other Portfolio Segment [Member] | |||
Beginning Balance | |||
Charge-offs | |||
Recoveries | |||
Provision | |||
Ending Balance | |||
Individually Evaluated for Impairment | |||
Collectively Evaluated for Potential Impairment | |||
Unallocated Financing Receivables [Member] | |||
Beginning Balance | 520 | 586 | |
Charge-offs | |||
Recoveries | |||
Provision | 107 | 336 | |
Ending Balance | 627 | 922 | |
Individually Evaluated for Impairment | |||
Collectively Evaluated for Potential Impairment | $ 627 | $ 922 | $ 520 |
Note 4 - Loans and Allowance_12
Note 4 - Loans and Allowance for Loan Losses - Accretable Discount on Loans Acquired at Fair Value (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Balance | $ 1,628 |
Accretable Yield | (76) |
Balance | $ 1,552 |
Note 4 - Loans and Allowance_13
Note 4 - Loans and Allowance for Loan Losses - Loans Summarized by Individually Evaluated for Impairment and Collectively Evaluated for Potential Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Individually Evaluated for Impairment | $ 11,582 | $ 7,764 |
Collectively Evaluated for Potential Impairment | 963,068 | 944,732 |
Loans and Leases Receivable, Gross, Total | 974,650 | 952,496 |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Individually Evaluated for Impairment | 1,495 | 549 |
Collectively Evaluated for Potential Impairment | 345,369 | 347,217 |
Loans and Leases Receivable, Gross, Total | 346,864 | 347,766 |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Individually Evaluated for Impairment | 6,806 | 4,704 |
Collectively Evaluated for Potential Impairment | 347,568 | 346,656 |
Loans and Leases Receivable, Gross, Total | 354,374 | 351,360 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | ||
Individually Evaluated for Impairment | 2,428 | 2,511 |
Collectively Evaluated for Potential Impairment | 78,293 | 83,075 |
Loans and Leases Receivable, Gross, Total | 80,721 | 85,586 |
Construction Portfolio Segment [Member] | Real Estate Sector [Member] | ||
Individually Evaluated for Impairment | 853 | |
Collectively Evaluated for Potential Impairment | 49,164 | 35,605 |
Loans and Leases Receivable, Gross, Total | 50,017 | 35,605 |
Consumer Portfolio Segment [Member] | ||
Individually Evaluated for Impairment | ||
Collectively Evaluated for Potential Impairment | 121,494 | 113,637 |
Loans and Leases Receivable, Gross, Total | 121,494 | 113,637 |
Other Portfolio Segment [Member] | ||
Individually Evaluated for Impairment | ||
Collectively Evaluated for Potential Impairment | 21,180 | 18,542 |
Loans and Leases Receivable, Gross, Total | $ 21,180 | $ 18,542 |
Note 5 - Deposits (Details Text
Note 5 - Deposits (Details Textual) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Time Deposits, at or Above FDIC Insurance Limit | $ 67.2 | $ 69.3 |
Note 5 - Deposits - Maturities
Note 5 - Deposits - Maturities of Time Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
One Year or Less | $ 82,680 | |
Over One Through Two Years | 54,134 | |
Over Two Through Three Years | 37,995 | |
Over Three Through Four Years | 23,340 | |
Over Four Through Five Years | 8,173 | |
Over Five Years | 5,267 | |
Total | $ 211,589 | $ 219,756 |
Note 6 - Short-term Borrowing_2
Note 6 - Short-term Borrowings - Federal Funds Purchased and Short-term Borrowings (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Balance at Period End, Amount | $ 34,967 | $ 30,571 |
Other Short-term Debt [Member] | ||
Balance at Period End, Amount | $ 34,967 | $ 30,571 |
Balance at Period End, Weighted Average Rate | 0.57% | 0.57% |
Federal Funds Purchased [Member] | ||
Average Balance Outstanding During the Period, Amount | $ 29,539 | $ 29,976 |
Average Balance Outstanding During the Period, Weighted Average Rate | 0.61% | 0.62% |
Maximum Amount Outstanding at any Month End, Amount | $ 34,967 | $ 34,197 |
Securities Sold under Agreements to Repurchase [Member] | ||
Carrying Value, Amount | 36,168 | 37,584 |
Market Value, Amount | $ 37,475 | $ 37,873 |
Note 7 - Other Borrowed Funds_2
Note 7 - Other Borrowed Funds (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $ 420,900 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 369,800 | |
Variable Rate Line of Credit [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 147,000 | $ 147,000 |
Federal Reserve Bank [Member] | ||
Long-term Line of Credit, Total | 0 | 0 |
Line of Credit Facility, Maximum Borrowing Capacity | 98,000 | |
Various Banks [Member] | ||
Long-term Line of Credit, Total | 0 | 0 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 60,000 | $ 60,000 |
Note 7 - Other Borrowed Funds -
Note 7 - Other Borrowed Funds - Federal Home Loan Bank Advances (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Due in One Year, amount | $ 5 | $ 6 |
Due in One Year, weighted average rate | 2.09% | 1.97% |
Due After One Year to Two Years, amount | $ 3 | $ 5 |
Due After One Year to Two Years, weighted average rate | 2.23% | 2.18% |
Due After Two Years to Three Years, amount | $ 3 | $ 3 |
Due After Two Years to Three Years, weighted average rate | 2.41% | 2.41% |
Total, amount | $ 11 | $ 14 |
Weighted Average [Member] | ||
Total, weighted average rate | 2.21% | 2.14% |
Note 8 - Fair Value Disclosur_2
Note 8 - Fair Value Disclosure (Details Textual) | 3 Months Ended | ||
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 3,255,000 | $ 4,024,000 | |
Impaired Financing Receivable, Related Allowance | 651,000 | 884,000 | |
Gains (Losses) on Sales of Other Real Estate | 4,000 | $ 30,000 | |
Commercial Portfolio Segment [Member] | Real Estate Sector [Member] | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,619,000 | 1,646,000 | |
Impaired Financing Receivable, Related Allowance | $ 392,000 | 274,000 | |
Number of Loans Transferred to Other Real Estate Owned | 1 | 1 | |
Other Real Estate, Ending Balance | $ 18,000 | $ 697,000 | |
Gains (Losses) on Sales of Other Real Estate | 4,000 | 33,000 | |
Residential Portfolio Segment [Member] | Real Estate Sector [Member] | |||
Impaired Financing Receivable, Related Allowance | |||
Other Real Estate, Ending Balance | $ 76,000 | 46,000 | |
Gains (Losses) on Sales of Other Real Estate | $ (3,000) | ||
Other Real Estate Owned, Number of Properties Sold | 2 | 1 |
Note 8 - Fair Value Disclosur_3
Note 8 - Fair Value Disclosure - Assets and Liabilities Reported Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities | $ 169,124 | $ 194,675 |
Marketable Equity Securities | 2,287 | 2,710 |
Available-for-Sale | 171,411 | 197,385 |
Fair Value, Recurring [Member] | ||
Debt Securities | 169,124 | 194,675 |
Marketable Equity Securities | 2,287 | 2,710 |
Available-for-Sale | 171,411 | 197,385 |
US Government Agencies Debt Securities [Member] | ||
Debt Securities | 8,008 | 48,056 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities | 24,884 | 25,843 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Debt Securities | 136,232 | 120,776 |
Equity Securities - Mutual Funds [Member] | ||
Marketable Equity Securities | 1,013 | 997 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Debt Securities | 8,008 | 48,056 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Debt Securities | 24,884 | 25,843 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | ||
Debt Securities | 136,232 | 120,776 |
Fair Value, Inputs, Level 1 [Member] | Equity Securities - Mutual Funds [Member] | Fair Value, Recurring [Member] | ||
Marketable Equity Securities | 1,013 | 997 |
Fair Value, Inputs, Level 1 [Member] | Equity Securities, Other [Member] | Fair Value, Recurring [Member] | ||
Marketable Equity Securities | $ 1,274 | $ 1,713 |
Note 8 - Fair Value Disclosur_4
Note 8 - Fair Value Disclosure - Significant Unobservable Inputs Used in the Fair Value Measurements (Details) - Fair Value, Inputs, Level 3 [Member] - Fair Value, Nonrecurring [Member] - Valuation, Market Approach [Member] - Measurement Input, Discount for Lack of Marketability [Member] $ in Thousands | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Impaired Loans | $ 2,604 | $ 3,140 | |
OREO | $ 76 | $ 58 | |
Minimum [Member] | |||
Impaired Loans, measurement input | [1] | 0.1 | |
OREO, measurement input | [1] | 0.1 | |
Maximum [Member] | |||
Impaired Loans, measurement input | [1] | 0.3 | |
OREO, measurement input | [1] | 0.5 | |
[1] | Range includes discounts taken since appraisal and estimated values. |
Note 8 - Fair Value Disclosur_5
Note 8 - Fair Value Disclosure - Estimated Fair Value of the Company's Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Securities available-for-sale, fair value | $ 169,124 | $ 194,675 |
Reported Value Measurement [Member] | ||
Securities available-for-sale, fair value | 171,411 | 197,385 |
Estimate of Fair Value Measurement [Member] | ||
Securities available-for-sale, fair value | 171,411 | 197,385 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Interest Bearing | 64,004 | 68,798 |
Non-Interest Bearing | 14,095 | 11,419 |
Accrued Interest Receivable | 3,274 | 3,297 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Interest Bearing | 64,004 | 68,798 |
Non-Interest Bearing | 14,095 | 11,419 |
Accrued Interest Receivable | 3,274 | 3,297 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Loans, Net | 962,328 | 942,629 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Loans, Net | 1,004,210 | 961,110 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Restricted Stock | 3,590 | 3,656 |
Bank-Owned Life Insurance | 24,361 | 24,222 |
Deposits | 1,106,640 | 1,118,359 |
Short-term Borrowings | 34,967 | 30,571 |
Other Borrowed Funds | 11,000 | 14,000 |
Accrued Interest Payable | 863 | 987 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Restricted Stock | 3,590 | 3,656 |
Bank-Owned Life Insurance | 24,361 | 24,222 |
Deposits | 1,116,037 | 1,128,078 |
Short-term Borrowings | 34,967 | 30,571 |
Other Borrowed Funds | 11,206 | 15,380 |
Accrued Interest Payable | $ 863 | $ 987 |
Note 9 - Commitments and Cont_3
Note 9 - Commitments and Contingent Liabilities - Unused and Available Credit Balances of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financial instruments | $ 232,209 | $ 240,104 |
Financial Standby Letter of Credit [Member] | ||
Financial instruments | 40,906 | 42,041 |
Performance Guarantee [Member] | ||
Financial instruments | 2,667 | 2,521 |
Construction Mortgages [Member] | ||
Financial instruments | 77,672 | 59,689 |
Personal Line Of Credit [Member] | ||
Financial instruments | 6,561 | 6,456 |
Overdraft Protection Lines [Member] | ||
Financial instruments | 6,474 | 6,415 |
Home Equity Lines of Credit [Member] | ||
Financial instruments | 20,459 | 20,560 |
Commercial Lines Of Credit [Member] | ||
Financial instruments | $ 77,470 | $ 102,422 |
Note 10 - Leases - Operating Le
Note 10 - Leases - Operating Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Operating Lease Expense | $ 116 | $ 115 | |
Variable Lease Expense | 9 | 8 | |
Total Lease Expense | $ 125 | $ 123 | |
Weighted Average Lease Term in Years (Year) | 7 years 40 days | 7 years 21 days | |
Weighted Average Discount Rate | 2.90% | 2.89% | |
Accrued Interest and Other Assets [Member] | |||
ROU Assets | $ 1,205 | $ 1,289 |
Note 10 - Leases - Maturity of
Note 10 - Leases - Maturity of Operating Lease (Details) $ in Thousands | Mar. 31, 2020USD ($) |
Due in One Year | $ 405 |
Due After One Year to Two Years | 292 |
Due After Two Years to Three Years | 142 |
Due After Three Years to Four Years | 66 |
Due After Four to Five Years | 48 |
Due After Five Years | 398 |
Total | 1,351 |
Less: Present Value Discount | 143 |
Accrued Interest and Other Liabilities [Member] | |
Lease Liabilities | $ 1,208 |
Note 11 - Other Noninterest E_3
Note 11 - Other Noninterest Expense - Components of Other Noninterest Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Non-Employee Compensation | $ 147 | $ 140 |
Printing and Supplies | 101 | 97 |
Postage | 61 | 72 |
Telephone | 167 | 143 |
Charitable Contributions | 51 | 41 |
Dues and Subscriptions | 76 | 52 |
Loan Expenses | 145 | 85 |
Meals and Entertainment | 40 | 55 |
Travel | 54 | 35 |
Training | 7 | 9 |
Bank Assessment | 44 | 43 |
Insurance | 56 | 53 |
Miscellaneous | 162 | 159 |
Total Other Noninterest Expense | $ 1,111 | $ 984 |
Note 12 - Segment and Related_3
Note 12 - Segment and Related Information (Details Textual) | 3 Months Ended |
Mar. 31, 2020 | |
Number of Operating Segments | 2 |
Note 12 - Segment and Related_4
Note 12 - Segment and Related Information - Reconciliation of Financial Data from Segments to Consolidated (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Assets | $ 1,313,173 | $ 1,321,537 | ||
Liabilities | 1,161,648 | 1,170,440 | ||
Stockholders' equity | 151,525 | $ 141,729 | 151,097 | $ 137,625 |
Interest and dividend income | 12,329 | 12,296 | ||
Interest expense | 1,796 | 1,862 | ||
Net interest income | 10,533 | 10,434 | ||
Provision for Loan and Lease Losses, Total | 2,500 | 25 | ||
Net interest income after provision for loan losses | 8,033 | 10,409 | ||
Noninterest income (loss) | 1,870 | 2,113 | ||
Noninterest expense | 9,001 | 8,879 | ||
Undistributed net income of subsidiary | ||||
Income before income tax expense (benefit) | 902 | 3,643 | ||
Income tax expense (benefit) | 129 | 718 | ||
Net income | 773 | 2,925 | ||
Reportable Legal Entities [Member] | Community Bank [ Member] | ||||
Assets | 1,312,732 | 1,321,001 | ||
Liabilities | 1,166,590 | 1,178,759 | ||
Stockholders' equity | 146,142 | 142,242 | ||
Interest and dividend income | 12,313 | 12,281 | ||
Interest expense | 1,796 | 1,862 | ||
Net interest income | 10,517 | 10,419 | ||
Provision for Loan and Lease Losses, Total | 2,500 | 25 | ||
Net interest income after provision for loan losses | 8,017 | 10,394 | ||
Noninterest income (loss) | 1,044 | 958 | ||
Noninterest expense | 8,021 | 7,901 | ||
Undistributed net income of subsidiary | 213 | 118 | ||
Income before income tax expense (benefit) | 1,253 | 3,569 | ||
Income tax expense (benefit) | 130 | 661 | ||
Net income | 1,123 | 2,908 | ||
Reportable Legal Entities [Member] | Exchange Underwriters, Inc [Member] | ||||
Assets | 3,911 | 4,076 | ||
Liabilities | 1,424 | 1,194 | ||
Stockholders' equity | 2,487 | 2,882 | ||
Interest and dividend income | 1 | 1 | ||
Interest expense | ||||
Net interest income | 1 | 1 | ||
Provision for Loan and Lease Losses, Total | ||||
Net interest income after provision for loan losses | 1 | 1 | ||
Noninterest income (loss) | 1,281 | 1,147 | ||
Noninterest expense | 975 | 975 | ||
Undistributed net income of subsidiary | ||||
Income before income tax expense (benefit) | 307 | 173 | ||
Income tax expense (benefit) | 94 | 55 | ||
Net income | 213 | 118 | ||
Reportable Legal Entities [Member] | CB Financial Services, Inc [Member] | ||||
Assets | 151,555 | 151,124 | ||
Liabilities | 30 | 27 | ||
Stockholders' equity | 151,525 | 151,097 | ||
Interest and dividend income | 15 | 1,318 | ||
Interest expense | ||||
Net interest income | 15 | 1,318 | ||
Provision for Loan and Lease Losses, Total | ||||
Net interest income after provision for loan losses | 15 | 1,318 | ||
Noninterest income (loss) | (455) | 8 | ||
Noninterest expense | 5 | 3 | ||
Undistributed net income of subsidiary | 1,123 | 1,604 | ||
Income before income tax expense (benefit) | 678 | 2,927 | ||
Income tax expense (benefit) | (95) | 2 | ||
Net income | 773 | 2,925 | ||
Consolidation, Eliminations [Member] | ||||
Assets | (155,025) | (154,664) | ||
Liabilities | (6,396) | (9,540) | ||
Stockholders' equity | (148,629) | $ (145,124) | ||
Interest and dividend income | (1,304) | |||
Interest expense | ||||
Net interest income | (1,304) | |||
Provision for Loan and Lease Losses, Total | ||||
Net interest income after provision for loan losses | (1,304) | |||
Noninterest income (loss) | ||||
Noninterest expense | ||||
Undistributed net income of subsidiary | (1,336) | (1,722) | ||
Income before income tax expense (benefit) | (1,336) | (3,026) | ||
Income tax expense (benefit) | ||||
Net income | $ (1,336) | $ (3,026) |