Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 15, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Entity Registrant Name | Reliant Bancorp, Inc. | ||
Entity Central Index Key | 1,606,440 | ||
Trading Symbol | rbnc | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 11,467,460 | ||
Entity Public Float | $ 161,560,992 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 20,497 | $ 23,413 |
Federal funds sold | 171 | 830 |
Total cash and cash equivalents | 20,668 | 24,243 |
Securities available for sale | 220,201 | 146,813 |
Loans, net | 762,488 | 657,701 |
Mortgage loans held for sale, less allowance for fair market adjustment of $160 at December 31, 2016 | 45,322 | 11,831 |
Accrued interest receivable | 5,744 | 3,786 |
Premises and equipment, net | 9,790 | 9,093 |
Restricted equity securities, at cost | 7,774 | 7,133 |
Cash surrender value of life insurance contracts | 33,663 | 24,827 |
Deferred tax assets, net | 1,099 | 3,437 |
Goodwill | 11,404 | 11,404 |
Core deposit intangibles | 1,280 | 1,582 |
Other assets | 5,601 | 10,134 |
TOTAL ASSETS | 1,125,034 | 911,984 |
LIABILITIES | ||
Demand | 131,996 | 134,792 |
Interest-bearing demand | 88,230 | 85,478 |
Savings and money market deposit accounts | 205,230 | 183,788 |
Time | 458,063 | 359,776 |
Total deposits | 883,519 | 763,834 |
Accrued interest payable | 305 | 107 |
Federal funds purchased | 0 | 3,671 |
Federal Home Loan Bank advances | 96,747 | 32,287 |
Dividends payable | 542 | 1,711 |
Other liabilities | 3,784 | 3,455 |
TOTAL LIABILITIES | 984,897 | 805,065 |
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued to date | ||
Common stock, $1 par value; 30,000,000 shares authorized; 9,034,439 and 7,778,309 shares issued and outstanding at December 31, 2017 and 2016, respectively | 9,034 | 7,778 |
Additional paid-in capital | 112,437 | 89,045 |
Retained earnings | 17,189 | 12,212 |
Accumulated other comprehensive loss | 1,477 | (2,116) |
TOTAL STOCKHOLDERS’ EQUITY | 140,137 | 106,919 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 1,125,034 | 911,984 |
COMMITMENTS AND CONTINGENCIES (NOTE 14) |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Valuation allowance attributable to mortgage loans held for sale | $ 160 | |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 30,000,000 | 30,000,000 |
Common stock, shares issued (in shares) | 9,034,439 | 7,778,309 |
Common stock, shares outstanding (in shares) | 9,034,439 | 7,778,309 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
INTEREST INCOME | |||
Interest and fees on loans | $ 34,176 | $ 31,905 | $ 26,017 |
Interest and fees on loans held for sale | 868 | 773 | 1,523 |
Interest on investment securities, taxable | 691 | 724 | 881 |
Interest on investment securities, nontaxable | 3,904 | 2,211 | 1,185 |
Federal funds sold and other | 519 | 402 | 282 |
TOTAL INTEREST INCOME | 40,158 | 36,015 | 29,888 |
INTEREST EXPENSE | |||
Demand | 173 | 182 | 190 |
Savings and money market deposit accounts | 748 | 632 | 466 |
Time | 4,095 | 1,835 | 1,416 |
Federal Home Loan Bank advances and other | 655 | 714 | 646 |
TOTAL INTEREST EXPENSE | 5,671 | 3,363 | 2,718 |
NET INTEREST INCOME | 34,487 | 32,652 | 27,170 |
PROVISION FOR LOAN LOSSES | 1,316 | 968 | (270) |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 33,171 | 31,684 | 27,440 |
NONINTEREST INCOME | |||
Service charges on deposit accounts | 1,251 | 1,239 | 958 |
Gains on mortgage loans sold, net | 3,675 | 6,317 | 10,999 |
Gain (loss) on securities transactions, net | 59 | 36 | (388) |
Gain on sale of other real estate | 27 | 301 | 6 |
Loss on disposal of premises and equipment | (52) | ||
Other | 1,050 | 907 | 807 |
TOTAL NONINTEREST INCOME | 6,010 | 8,800 | 12,382 |
NONINTEREST EXPENSE | |||
Salaries and employee benefits | 18,432 | 18,256 | 18,657 |
Occupancy | 3,353 | 3,174 | 3,387 |
Information technology | 2,715 | 2,486 | 2,479 |
Advertising and public relations | 264 | 702 | 1,213 |
Audit, legal and consulting | 2,865 | 1,287 | 1,892 |
Federal deposit insurance | 399 | 438 | 383 |
Provision for losses on other real estate | 70 | 110 | |
Other operating | 3,048 | 3,961 | 3,448 |
TOTAL NONINTEREST EXPENSE | 31,076 | 30,374 | 31,569 |
INCOME BEFORE PROVISION FOR INCOME TAXES | 8,105 | 10,110 | 8,253 |
INCOME TAX EXPENSE | 1,942 | 2,213 | 2,271 |
CONSOLIDATED NET INCOME | 6,163 | 7,897 | 5,982 |
NONCONTROLLING INTEREST IN NET (INCOME) LOSS OF SUBSIDIARY | 1,083 | 1,039 | (407) |
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS | $ 7,246 | $ 8,936 | $ 5,575 |
Basic earnings per share (in dollars per share) | $ 0.89 | $ 1.18 | $ 0.88 |
Diluted earnings per share (in dollars per share) | $ 0.88 | $ 1.16 | $ 0.86 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Consolidated net income | $ 6,163 | $ 7,897 | $ 5,982 |
Other comprehensive income (loss) | |||
Net unrealized gains (losses) on available-for-sale securities, net of tax of $2,102, $(1,275) and $(17) for the years ended December 31, 2017, 2016 and 2015, respectively | 3,384 | (2,058) | (25) |
Reclassification adjustment for (gains) losses included in net income, net of tax of $(23), $(14) and $149 for the years ended December 31, 2017, 2016 and 2015, respectively | (36) | (22) | 239 |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | 3,348 | (2,080) | 214 |
TOTAL COMPREHENSIVE INCOME | $ 9,511 | $ 5,817 | $ 6,196 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net realized gains on available-for-sale securities, tax | $ 2,102 | $ (1,275) | $ (17) |
Reclassification adjustment for (gains) included in net income, tax | $ (23) | $ (14) | $ 149 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total |
BALANCE (in shares) at Dec. 31, 2014 | 3,910,191 | |||||
BALANCE at Dec. 31, 2014 | $ 3,910 | $ 38,955 | $ 901 | $ (250) | $ 43,516 | |
Stock based compensation expense | 104 | 104 | ||||
Shares retained by shareholders of Commerce Union Bancshares, Inc., net of stock issuance costs of $741 (in shares) | 3,069,030 | |||||
Shares retained by shareholders of Commerce Union Bancshares, Inc., net of stock issuance costs of $741 | $ 3,069 | 44,091 | 47,160 | |||
Conversion shares issued to shareholders of Reliant Bank (in shares) | 83,015 | |||||
Conversion shares issued to shareholders of Reliant Bank | $ 83 | (83) | ||||
Exercise of stock options (in shares) | 186,884 | |||||
Exercise of stock options | $ 187 | 1,633 | 1,820 | |||
Restricted stock awards (in shares) | 30,500 | |||||
Restricted stock awards | $ 31 | (31) | ||||
Stock issuance costs | (149) | (149) | ||||
Noncontrolling interest distribuitons | (407) | (407) | ||||
Cash dividend declared to common shareholders | (1,489) | (1,489) | ||||
Net income (loss) | 5,575 | 407 | 5,982 | |||
Other comprehensive income (loss) | 214 | 214 | ||||
Consolidated net income | 5,575 | 407 | 5,982 | |||
BALANCE (in shares) at Dec. 31, 2015 | 7,279,620 | |||||
BALANCE at Dec. 31, 2015 | $ 7,280 | 84,520 | 4,987 | (36) | 96,751 | |
Stock based compensation expense | 251 | 251 | ||||
Exercise of stock options (in shares) | 476,889 | |||||
Exercise of stock options | $ 477 | 4,295 | 4,772 | |||
Restricted stock awards (in shares) | 23,800 | |||||
Restricted stock awards | $ 23 | (23) | ||||
Cash dividend declared to common shareholders | (1,711) | (1,711) | ||||
Net income (loss) | 8,936 | (1,039) | 7,897 | |||
Other comprehensive income (loss) | (2,080) | (2,080) | ||||
Restricted stock forfeiture (in shares) | (2,000) | |||||
Restricted stock forfeiture | $ (2) | 2 | ||||
Noncontrolling interest contributions | 1,039 | 1,039 | ||||
Consolidated net income | 8,936 | (1,039) | $ 7,897 | |||
BALANCE (in shares) at Dec. 31, 2016 | 7,778,309 | 7,778,309 | ||||
BALANCE at Dec. 31, 2016 | $ 7,778 | 89,045 | 12,212 | (2,116) | $ 106,919 | |
Stock based compensation expense | 616 | $ 616 | ||||
Exercise of stock options (in shares) | 72,080 | 72,080 | ||||
Exercise of stock options | $ 72 | 751 | $ 823 | |||
Restricted stock awards (in shares) | 50,050 | |||||
Restricted stock awards | $ 50 | (50) | ||||
Cash dividend declared to common shareholders | (2,024) | (2,024) | ||||
Net income (loss) | 7,246 | (1,083) | 6,163 | |||
Other comprehensive income (loss) | 3,348 | 3,348 | ||||
Restricted stock forfeiture (in shares) | (3,000) | |||||
Restricted stock forfeiture | $ (3) | 3 | ||||
Noncontrolling interest contributions | 1,083 | 1,083 | ||||
Common stock net of issuance costs of $1,805 (in shares) | 1,137,000 | |||||
Common stock net of issuance costs of $1,805 | $ 1,137 | 22,072 | 23,209 | |||
Consolidated net income | 7,246 | (1,083) | 6,163 | |||
Reclassification of federal income tax rate change | (245) | 245 | ||||
BALANCE (in shares) at Dec. 31, 2017 | 9,034,439 | 9,034,439 | ||||
BALANCE at Dec. 31, 2017 | $ 9,034 | $ 112,437 | $ 17,189 | $ 1,477 | $ 140,137 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retained Earnings [Member] | |||
Cash dividend declared to common shareholders, per share (in dollars per share) | $ 0.20 | ||
Stock issuance costs | $ 1,805 | $ 741 | |
Cash dividend declared to common shareholders, per share (in dollars per share) | $ 0.24 | $ 0.22 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
OPERATING ACTIVITIES | |||
Consolidated net income | $ 6,163 | $ 7,897 | $ 5,982 |
Reclassification of federal income tax rate change | (245) | ||
Adjustments to reconcile consolidated net income to net cash provided (used) in operating activities | |||
Provision for loan losses | 1,316 | 968 | (270) |
Deferred income taxes (benefit) | 504 | 235 | (203) |
Loss on disposal of premises and equipment | 52 | ||
Depreciation and amortization of premises and equipment | 1,017 | 976 | 890 |
Net amortization of securities | 2,030 | 1,551 | 1,110 |
Net realized (gains) losses on sales of securities | (59) | (36) | 388 |
Gains on mortgage loans sold, net | (3,675) | (6,317) | (10,999) |
Stock-based compensation expense | 616 | 251 | 104 |
Realization of gain on other real estate | (27) | (301) | (6) |
Provision for losses on other real estate | (70) | (110) | |
Increase in cash surrender value of life insurance contracts | (836) | (750) | (541) |
Mortgage loans originated for resale | (157,380) | (158,457) | (409,338) |
Proceeds from sale of mortgage loans | 127,564 | 208,036 | 391,884 |
Amortization of core deposit intangible | 302 | 356 | 300 |
Change in | |||
Accrued interest receivable | (1,958) | (690) | (465) |
Other assets | 4,371 | (6,580) | (1,357) |
Accrued interest payable | 198 | 52 | (107) |
Other liabilities | 403 | 1,501 | (167) |
TOTAL ADJUSTMENTS | (25,562) | 40,865 | (28,667) |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | (19,644) | 48,762 | (22,685) |
INVESTING ACTIVITIES | |||
Activities in available for sale securities - Purchases | (95,430) | (59,332) | (62,556) |
Activities in available for sale securities - Sales | 18,688 | 31,782 | 6,609 |
Activities in available for sale securities - Maturities, prepayments and calls | 6,763 | 9,255 | 7,297 |
Activities in held to maturity securities - sales | 20,649 | ||
Activities in held to maturity securities - maturities, prepayments and calls | |||
Purchases of restricted equity securities | (641) | (889) | (1,007) |
Loan originations and payments, net | (106,103) | (49,922) | (51,480) |
Purchase of buildings, leasehold improvements, and equipment | (1,766) | (873) | (926) |
Proceeds from sale of other real estate | 1,313 | 568 | |
Improvement of other real estate | (16) | ||
Purchase of life insurance contracts | (8,000) | (4,000) | (4,000) |
Cash received in merger | 12,378 | ||
NET CASH USED IN INVESTING ACTIVITIES | (186,489) | (72,682) | (72,468) |
FINANCING ACTIVITIES | |||
Net change in deposits | 119,685 | 123,826 | 57,848 |
Net change in federal funds purchased | (3,671) | 3,671 | (6,651) |
Net change in Advances from Federal Home Loan Bank | 64,460 | (103,472) | 51,403 |
Issuance of common stock, net | 24,032 | 4,772 | 1,820 |
Stock issuance costs | (149) | ||
Noncontrolling interest contributions received | 1,245 | 285 | 305 |
Cash dividends paid on common stock | (3,193) | (1,489) | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 202,558 | 27,593 | 104,576 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (3,575) | 3,673 | 9,423 |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 24,243 | 20,570 | 11,147 |
CASH AND CASH EQUIVALENTS - END OF PERIOD | 20,668 | 24,243 | 20,570 |
Cash paid during the period for | |||
Interest | 5,473 | 3,311 | 2,742 |
Taxes | 1,750 | 3,091 | 4,232 |
Non-cash investing and financing activities | |||
Unrealized gain (loss) on securities available-for-sale | 5,380 | (3,792) | 293 |
Unrealized loss on derivatives | 47 | 423 | |
Change in due to/from noncontrolling interest | 1,083 | 754 | (712) |
Foreclosures transferred from loans to other real estate | 622 | ||
Dividends declared, not paid | $ 542 | $ 1,711 | $ 1,489 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 Nature of Operations Effective December 31, 2017, (“the Company”). Organizational activities began in 2005. January 1, 2018, 25. Basis of Presentation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. The following is a brief summary of the significant policies. The consolidated financial statements as of and for the periods presented include the accounts of Reliant Bancorp, Inc., its wholly-owned subsidiary, Reliant Bank (the “Bank”), and the Bank’s 51% 21, April 1, 2015. 2015. Use of E stimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions based on available information. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to determination of the allowance for loan losses, the valuation of other real estate, the valuation of debt and equity securities, the valuation of deferred tax assets and fair values of financial instruments. Concentrations At December 31, 2017 , the Company had significant credit exposures to borrowers in real estate. If this industry experiences another economic slowdown and, as a result, the borrowers in this industry are unable to meet the obligations of their existing loan agreements, earnings could be negatively impacted. The Company is concentrated in the middle Tennessee regional market and the operating results are impacted by the economic conditions of that area. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, deposits with other financial institutions with maturities less than 90 one The Company maintains deposits in excess of the federal insurance amounts with other financial institutions. Management makes deposits only with financial institutions it considers financially sound. F ederal funds sold of $171 $830 December 31, 2017 2016, one Securities The Company classifies its securities in one two 2015, Interest income includes purchase premiums and discounts amortized or accreted over the life of the related security as an adjustment to the yield without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. When the fair value of a debt security has declined below the amortized cost at the measurement date, if an entity intends to sell a security or is more likely than not ’s cost basis, the entity must recognize the other-than-temporary impairment (“OTTI”) in earnings. For a debt security with a fair value below the amortized cost at the measurement date where it is more likely than not not not The related OTTI loss on the debt security will be recognized in earnings to the extent of the credit losses, with the remaining impairment loss recognized in accumulated other comprehensive income. In estimating OTTI losses, management considers: the length of time and extent that fair value of the security has been less than the cost of the security, the financial condition and near term prospects of the issuer, cash flow, stress testing analysis on securities, when applicable, and the Company ’s ability and intent to hold the security for a period sufficient to allow for any anticipated recovery in fair value. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of unearned interest, deferred loan fees, and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using a straight-line method without anticipating prepayments. This treatment does not . Past due status is determined based on the contractual terms of the note. The accrual of interest is discontinued when a loan becomes 90 not When full collection of the remaining book balance is uncertain, interest payments received are applied to the principal balance outstanding. In some cases, when the remaining book balance of the loan is deemed fully collectible, payments are treated as interest income on a cash basis. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The restructuring of a loan is considered a “troubled debt restructuring” if the borrower is experiencing financial difficulties and the Company has granted a concession. Concessions may Allowance for Loan Losses The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using historical loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, current economic conditions (national and local), and other factors such as changes in interest rates, portfolio concentrations, changes in the experience, ability, and depth of the lending function, levels of and trends in charged-off loans, recoveries, past due loans and volume and severity of classified loans. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The entire allowance is available for any loan that, in management’s judgment, should be charged off. During 2011, Company added an unallocated general reserve. This unallocated portion of the reserve was above the allocated amount calculated for each loan pool segment based on each loan pool’s historical loss experience adjusted for current economic and environmental factors. This unallocated reserve was added due to the volatility in credit losses and the uncertainty risk that is not 2015, A loan is impaired when full payment under the loan term s is not not Mortgage Loans Held for Sale Mortgage loans originated with the intent to sell to third December 31, 2016, $160 no December 31, 2017. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets or the terms of the related lease for leasehold improvements. The range of estimated useful lives for buildings is 30 40 3 25 3 7 Expenditures and improvements of premises and equipment are capitalized and those for maintenance and repairs are charged to earnings as incurred. Restricted Equity Securities Each member of the Federal Reserve is required to subscribe to Federal Reserve Bank ( “FRB”) stock. The Bank is a member of the Federal Home Loan Bank (“FHLB”) system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may These stocks are carried at cost, classified as restricted equity securit ies, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. Other Real Estate Real estate acquired in the settlement of loans is initially recorded at estimated fair value, less estimated cost to sell , if less than the carrying value of the loan when acquired. Based on periodic evaluations by management, the carrying values are reduced by a direct charge to earnings when they exceed net realizable value. Costs relating to the development and improvement of the property are capitalized up to fair value less cost to sell, while holding costs of the property are charged to expense in the period incurred. Cash Surrender Value of Life Insurance Contracts The Company is the owner and beneficiary of various life insurance policies on certain key employees. These policies are recorded at their cash surrender values. Impairment of Long-Term Assets Premises and equipment and other long-term assets are reviewed for impairment when events indicate their carrying amount may not written down to fair value, with a corresponding charge to earnings. Goodwill Goodwill represents that excess of the purchase price of over the fair value of assets and liabilities acquired in a 2015 21 2009 Loan Commitments and Related Financial Instruments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Stock Based Compensation Compensation cost recognized for stock options and restricted stock awards issued to employees is based on the fair value of these awards at the date of grant. A binomial model is utilized to estimate the fair value of stock options. Compensation cost is recognized over the required service period, generally defined as the vesting period. Additionally, during 2016, elected to adopt the provisions of ASU 2016 09, “Compensation - Stock Compensation (Topic 718 January 1, 2017. 2016 2016 09 January 1, 2016 not 2016 09 January 1, 2016 $184 $478, $0.02 $0.06 2017 2016, ASU 2016 09 Income Taxes Income tax expense or benefit is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not not Management performs an evaluation of all income tax positions taken or expected to be taken in the course of preparing the Company’s income tax returns to determine whether the income tax positions meet a “more likely than not” no not not” The Company files income tax returns in the U.S. federal jurisdiction and various states. The Company’s federal and states income tax returns for years prior to fiscal year 2014 no Earnings Per Share Earnings per share is computed by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding plus shares representing the dilutive effect of stock options outstanding. Retirement Plan The Company has a 401 100% 100% first 3% 50% 2% 401 100% Comprehensive Income Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available for sale and derivatives . These gains and losses are recognized as a separate component of stockholders’ equity. Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not consolidated financial statements. Restrictions on Cash Cash on hand or on deposit with the Federal Reserve Bank was required to meet regulatory reserve and clearing requirements. At December 31, 2017, $2,636. December 31, 2016, not December 31, 2015, $10,310. Preferred Shares Pre ferred shares rights that can be set when issued as determined by the Board of Directors. Dividend Restriction Banking regulations require maintaining certain capital levels and may Company to shareholders. Advertising Costs Advertising costs are expensed as incurred and totaled $264, $684 $1,117 December 31, 2017, 2016 2015. Fair Va lue M easurements Financial accounting standards relating to fair value measurements establish a framework for measuring fair value . That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 3 three L evel 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level 2 Inputs to the valuation methodology include: ● Quoted prices for similar assets or liabilities in active markets; ● Quoted prices for identical or similar assets or liabilities in inactive markets; ● Inputs other than quoted prices that are observable for the asset or liability; ● Inputs that are derived principally from or corroborated by the observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 Level 3 Inputs to the valuation methodology are unobservable and reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. An asset ’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques should maximize the use of observable inputs and minimize the use of unobservable inputs. Following is a description of the valuation methodologies used for assets and liabilities measured at fair value on a recurring basis: S ecurities available for sale : 1 2 The Company obtains fair value measurements for securities available for sale from an independent pricing service. The fair value measurements consider observable data that may two Interest rate swaps: The fair values of interest rate swaps are determined based on discounted future cash flows. C ertain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not Impaired l oans may 3 Mortgage loans held for sale: A pricing model is used to estimate the fair value of mortgage loans held for sale. The Company uses a model as developed and performed by an independent entity to value such loans. Other real estate owned: The fair value o may 3 No The methods described above may may not . Furthermore, while the Company’s valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 4. Reclassifications Certain reclassifications have been made in the 2016 2015 2017 no Recent Authoritative Accounting Guidance The following discusses new authoritative accounting guidance and the related impact on the Company. ASU 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09 2014 09 January 1, 2017; 2015 14, “Revenue from Contracts with Customers (Topic 606 2014 09 one January 1, 2018. 2014 09, not 2014 09 ASU 2015 16, “Business Combinations (Topic 805 2015 16 January 1, 2016 not ASU 2016 01, Financial Instruments – Overall (Subtopic 825 10 2016 01, 2016 01 January 1, 2018 not ASU 2016 02, Leases (Topic 842 2016 02 2016 02 January 1, 2019 2016 02 ASU 2016 05 , “ Derivatives and Hedging (Topic 815 2016 05 815 not, 2016 05 January 1, 2017 not ASU 2016 09, “Compensation - Stock Compensation (Topic 718 2016 09, no 2016 09 2016 09 2016 09 2016 January 1, 2017. $478, $0.06 2016. not ASU 2016 13, “Financial Instruments - Credit Losses (Topic 326 2016 13 2016 13 2016 13 January 1, 2020. 2016 13 third 2016 13. 2016 13 2016 13 2016 13, ASU 2016 15 , “Statement of Cash Flows (Topic 230 2016 15 2016 15 January 1, 2018 not ASU 2016 16, “Income Taxes (Topic 740 2016 16 2016 16 January 1, 2018 not ASU 2016 18, “Statement of Cash Flows (Topic 230 2016 18 2016 18 January 1, 2018 not ASU 2017 01, “Business Combinations (Topic 805 2017 01 2017 01 2017 01 January 1, 2018 not ASU 2017 04, Intangibles - Goodwill and Other (Topic 350 2017 04 2 2017 04, not 2017 04 January 1, 2020, not ASU 2017 05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610 20 2017 05 610 20 2017 05 2017 05 January 1, 2018 not ASU 2017 08, “ Receivables - Nonrefundable Fees and Other Costs (Subtopic 310 20 2017 08 2017 08 not 2017 08 January 1, 2019, 2017 08 ASU 2017 09, Compensation - Stock Compensation (Topic 718 2017 09 2017 09, not 2017 09 January 1, 2018 not ASU 2017 12, Derivatives and Hedging (Topic 815 2017 12 815 2017 12 January 1, 2019 not ASU 2018 02, “I ncome Statement—Reporting Comprehensive Income (Topic 220 Income ” In February 2018, December 22, 2017. December 15, 2018, fourth 2017, $245 2017 |
Note 2 - Securities
Note 2 - Securities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 2 The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive loss at December 31, 2017 2016 December 31, 2017 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value U. S. Treasury and other U. S. government agencies $ 17,339 $ 45 $ (96 ) $ 17,288 State and municipal 189,576 3,081 (905 ) 191,752 Corporate bonds 1,500 5 (13 ) 1,492 Mortgage backed securities 6,262 3 (96 ) 6,169 Time deposits 3,500 - - 3,500 Total $ 218,177 $ 3,134 $ (1,110 ) $ 220,201 December 31, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value U. S. Treasury and other U. S. government agencies $ 1,909 $ 4 $ (5 ) $ 1,908 State and municipal 122,813 446 (3,625 ) 119,634 Corporate bonds 2,000 8 (21 ) 1,987 Mortgage backed securities 20,197 11 (174 ) 20,034 Time deposits 3,250 - - 3,250 Total $ 150,169 $ 469 $ (3,825 ) $ 146,813 There were no December 31, 2017 2016. January 16, 2015, $20,806 $396. The amortized cost and estimated fair value of available for sale securities at December 31, 2017 may may not Amortized Estimated Cost Fair Value Due within one year $ 5,004 $ 5,011 Due in one to five years 13,659 13,641 Due in five to ten years 11,246 11,347 Due after ten years 182,006 184,033 Mortgage backed securities 6,262 6,169 Total $ 218,177 $ 220,201 The following table shows available for sale securities with unrealized losses and their estimated fair value aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position as of December 31, 2017: Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Loss Fair Value Loss Fair Value Loss Description of Securities U. S. Treasury and other U. S. government agencies $ 9,057 $ 74 $ 1,345 $ 22 $ 10,402 $ 96 State and municipal 19,899 128 34,946 777 54,845 905 Corporate bonds - - 487 13 487 13 Mortgage backed securities 2,412 14 3,349 82 5,761 96 Total temporarily impaired $ 31,368 $ 216 $ 40,127 $ 894 $ 71,495 $ 1,110 The following table shows available for sale securities with unrealized losses and their estimated fair value aggregated by investment category and length of tim e that individual securities had been in a continuous unrealized loss position as of December 31, 2016: Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Loss Fair Value Loss Fair Value Loss Description of Securities U. S. Treasury and other U. S. government agencies $ 748 $ 5 $ - $ - $ 748 $ 5 State and municipal 83,637 3,597 1,115 28 84,752 3,625 Corporate bonds 496 4 983 17 1,479 21 Mortgage backed securities 17,599 129 1,255 45 18,854 174 Total temporarily impaired $ 102,480 $ 3,735 $ 3,353 $ 90 $ 105,833 $ 3,825 At December 31, 2017 , management had the intent and ability to hold all securities in a loss position for the foreseeable future, and the decline in fair value was largely due to changes in interest rates. The fair value is expected to recover as the securities approach their maturity date and/or market rates decline. There were 120 193 December 31, 2017 2016, During the years ended December 31, 2017, 2016 2015, $97, $359 $75, $38, $323 $463, Securities pledg ed at December 31, 2017 2016 $78,220 $36,292, At December 31, 2017 2016 , there were no one 10% |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 3 Loans at December 31, 2017 2016 December 31, December 31, 2016 Commerical, Industrial and Agricultural $ 138,706 $ 134,404 Real Estate 1-4 Family Residential 111,932 113,031 1-4 Family HELOC 72,017 57,460 Multi-family and Commercial 261,044 215,639 Construction, Land Development and Farmland 156,452 115,889 Consumer 17,605 17,240 Other 14,694 13,745 772,450 667,408 Less Deferred loan fees 231 625 Allowance for possible loan losses 9,731 9,082 Loans, net $ 762,488 $ 657,701 At December 31, 2017 2016, $272 $1,210, Activity in the allowance for loan losses by portfolio segment was as follows for the year ended December 31, 2017: Commercial Industrial and Agricultural Multi Family and Commercial Construction Land Development and Farmland 1-4 Family Residential Real Estate Beginning balance $ 2,432 $ 2,737 $ 1,786 $ 1,178 Charge-offs (976 ) - (45 ) (14 ) Recoveries 378 - 5 - Provision 704 429 688 (391 ) Ending balance $ 2,538 $ 3,166 $ 2,434 $ 773 1-4 Family HELOC Consumer Other Total Beginning balance $ 704 $ 208 $ 37 $ 9,082 Charge-offs - (36 ) - (1,071 ) Recoveries 19 2 - 404 Provision (128 ) 9 5 1,316 Ending balance $ 595 $ 183 $ 42 $ 9,731 Activity in the allowance for loan losses by portfolio segment was as follows for the year ended December 31, 2016: Commercial Industrial and Agricultural Multi Family and Commercial Construction Land Development and Farmland 1-4 Family Residential Real Estate Beginning balance $ 2,198 $ 2,591 $ 894 $ 1,214 Charge-offs (84 ) - - (25 ) Recoveries 323 18 6 66 Provision (5 ) 128 886 (77 ) Ending balance $ 2,432 $ 2,737 $ 1,786 $ 1,178 1-4 Family HELOC Consumer Other Total Beginning balance $ 699 $ 192 $ 35 $ 7,823 Charge-offs - - (36 ) (145 ) Recoveries 11 12 - 436 Provision (6 ) 4 38 968 Ending balance $ 704 $ 208 $ 37 $ 9,082 Activity in the allowance for loan losses by portfolio segment was as follows for the year ended December 31, 201 5: Commercial Industrial and Agricultural Multi Family and Commercial Construction Land Development and Farmland 1-4 Family Residential Real Estate Beginning balance $ 2,184 $ 2,070 $ 742 $ 642 Charge-offs - - - - Recoveries 346 388 7 15 Provision (332 ) 133 145 557 Ending balance $ 2,198 $ 2,591 $ 894 $ 1,214 1-4 Family HELOC Consumer Other Unallocated Total Beginning balance $ 854 $ 181 $ 2 $ 678 $ 7,353 Charge-offs (6 ) (35 ) - - (41 ) Recoveries 25 - - - 781 Provision (174 ) 46 33 (678 ) (270 ) Ending balance $ 699 $ 192 $ 35 $ - $ 7,823 The allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 201 7 Commercial Industrial and Agricultural Multi Family and Commercial Construction Land Development and Farmland 1-4 Family Residential Real Estate Allowance for loan losses Individually evaluated for impairment $ 606 $ - $ 57 $ - Acquired with credit impairment 2 - 2 - Collectively evaluated for impairment 1,930 3,166 2,375 773 Total $ 2,538 $ 3,166 $ 2,434 $ 773 Loans Individually evaluated for impairment $ 3,649 $ 1,921 $ 3,800 $ 2,114 Acquired with credit impairment 276 1,157 1,436 45 Collectively evaluated for impairment 134,781 257,966 151,216 109,773 Total $ 138,706 $ 261,044 $ 156,452 $ 111,932 1-4 Family HELOC Consumer Other Total Allowance for loan losses Individually evaluated for impairment $ - $ - $ - $ 663 Acquired with credit impairment - - - 4 Collectively evaluated for impairment 595 183 42 9,064 Total $ 595 $ 183 $ 42 $ 9,731 Loans Individually evaluated for impairment $ 90 $ - $ - $ 11,574 Acquired with credit impairment - - - 2,914 Collectively evaluated for impairment 71,927 17,605 14,694 757,962 Total $ 72,017 $ 17,605 $ 14,694 $ 772,450 The allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2016 Commercial Industrial and Agricultural Multi Family and Commercial Construction Land Development and Farmland 1-4 Family Residential Real Estate Allowance for loan losses Individually evaluated for impairment $ 747 $ - $ 17 $ 27 Acquired with credit impairment - 6 - - Collectively evaluated for impairment 1,685 2,731 1,769 1,151 Total $ 2,432 $ 2,737 $ 1,786 $ 1,178 Loans Individually evaluated for impairment $ 5,375 $ 2,036 $ 2,544 $ 1,972 Acquired with credit impairment 329 2,852 1,481 89 Collectively evaluated for impairment 128,700 210,751 111,864 110,970 Total $ 134,404 $ 215,639 $ 115,889 $ 113,031 1-4 Family HELOC Consumer Other Total Allowance for loan losses Individually evaluated for impairment $ 62 $ - $ - $ 853 Acquired with credit impairment - - - 6 Collectively evaluated for impairment 642 208 37 8,223 Total $ 704 $ 208 $ 37 $ 9,082 Loans Individually evaluated for impairment $ 1,479 $ - $ - $ 13,406 Acquired with credit impairment 16 - - 4,767 Collectively evaluated for impairment 55,965 17,240 13,745 649,235 Total $ 57,460 $ 17,240 $ 13,745 $ 667,408 Risk characteristics relevant to each portfolio segment are as follows: Commercial and industrial: The commercial and industrial loan portfolio segment includes commercial and industrial loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases or other expansion projects. Collection risk in this portfolio is driven by the creditworthiness of underlying borrowers, particularly cash flow from customers’ business operations. Commercial and industrial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not may may may may Multi-family and commercial real estate: Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. C ommercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may third 50 third At December 31, 2017, 39% Construction and land development: Loans for non-owner -occupied real estate construction or land development are generally repaid through cash flow related to the operation, sale or refinance of the property. The Company also finances construction loans for owner-occupied properties. A portion of the Company’s construction and land portfolio segment is comprised of loans secured by residential product types (residential land and single-family construction). With respect to construction loans to developers and builders that are secured by non-owner occupied properties that the Company may Construction loans are generally based upon estimates of costs and value associated with the complete project. These estimates may bstantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may 1 4 Residential real estate loans represent loans to consumers or investors to finance a residence. These loans are typically financed on 15 30 5 15 1 4 first second 1 4 This loan segment includes open-end home equity loans that are secured by a first second second 1 4 Consumer: The consumer loan portfolio segment includes non-real estate secured direct loans to consumers for household, family, and other personal expenditures. Consumer loans may one five may Non-accrual loans b y class of loan were as follows: December 31, December 31, 2017 2016 Commercial, Industrial and Agricultural $ 2,110 $ 3,062 Multi-family and Commercial Real Estate - 636 Construction, Land Development and Farmland 2,518 730 1-4 Family Residential Real Estate 533 344 1-4 Family HELOC - 862 Total $ 5,161 $ 5,634 Performing non-accrual loans totaled $1,096 $2,799 December 31, 2017 2016, Individually impaired loans by class of loans were as follows at December 31, 2017: Unpaid Recorded Investment with no Allowance Recorded Recorded Investment with Allowance Recorded Total Recorded Related Commercial, Industrial and Agricultural $ 4,398 $ 2,959 $ 966 $ 3,925 $ 608 Multi-family and Commercial Real Estate 3,427 3,078 - 3,078 - Construction, Land Development and Farmland 5,317 3,249 1,987 5,236 59 1-4 Family Residential Real Estate 2,857 2,159 - 2,159 - 1-4 Family HELOC 90 90 - 90 - Total $ 16,089 $ 11,535 $ 2,953 $ 14,488 $ 667 Individually impaired loans by class of loans were as follows at December 31, 2016: Unpaid Recorded Investment with no Allowance Recorded Recorded Investment with Allowance Recorded Total Recorded Related Commercial, Industrial and Agricultural $ 6,383 $ 3,924 $ 1,780 $ 5,704 $ 747 Multi-family and Commercial Real Estate 5,666 2,914 1,974 4,888 6 Construction, Land Development and Farmland 4,124 3,854 171 4,025 17 1-4 Family Residential Real Estate 2,422 2,035 27 2,062 27 1-4 Family HELOC 2,075 1,178 317 1,495 62 Total $ 20,670 $ 13,905 $ 4,269 $ 18,174 $ 859 Individually impaired loans by class of loans were as follows at December 31, 201 5: Unpaid Recorded Investment with no Allowance Recorded Recorded Investment with Allowance Recorded Total Recorded Related Commercial, Industrial and Agricultural $ 4,047 $ 2,145 $ 1,180 $ 3,325 $ 485 Multi-family and Commercial Real Estate 6,958 5,452 713 6,165 11 Construction, Land Development and Farmland 1,831 1,496 224 1,720 22 1-4 Family Residential Real Estate 3,763 3,009 372 3,381 241 1-4 Family HELOC 2,363 1,309 946 2,255 190 Total $ 18,962 $ 13,411 $ 3,435 $ 16,846 $ 949 Interest income recognized on impaired loans totaled $703, $848 $853 December 31, 2017, 2016 2015, The average recorded investment in impaired loans for the years ended December 31, 2017 2016 2017 2016 Commercial, industrial and agricultural $ 5,225 $ 6,055 Multi family and commercial real estate 4,138 5,837 Construction, land development and farmland 4,502 3,243 1-4 family residential real estate 2,212 2,715 1-4 family HELOC 784 1,854 Total $ 16,861 $ 19,704 The Company utilizes a risk grading system to monitor the credit quality of the Company’s commercial loan portfolio which consists of commercial and industrial, commercial real estate and construction loans. Loans are graded on a scale of 1 9. 1 5 6 7 8 9 Grade 1 - Minimal Risk (Pass) This grade includes loans to borrowers with a strong financial position and history of profits and cash flows sufficient to service the debt . These borrowers have well defined sources of primary/secondary repayment, conservatively leveraged balance sheets and the ability to access a wide range of financing alternatives. Collateral securing these loans is negotiable, of sufficient value and in possession of the Company. Risk of loss is unlikely. Grade 2 This grade includes loans to borrowers with a strong financial condition reflecting dependable net profits and cash flows . The borrower has verifiable liquid net worth providing above average asset protection. An identifiable market exits for the collateral. Risk of loss is unlikely. Grade 3 - Above Average (Pass) This grade includes loans to borrowers with a balance sheet that reflects a comfortable degree of leverage and liquidity . Borrowers are profitable and have a sustained record of servicing debt. An identifiable market exits for the collateral, but liquidation could take up to one Grade 4 This grade includes loans to borrowers with a financial condition that is satisfactory and comparable to industry standards . The borrower has verifiable net worth, providing over time, average asset protection. Borrower cash flows are sufficient to satisfy debt service requirements. Risk of loss is below average. Grade 5 This grade includes loans to borrowers whose loans are performing, but sources of repayment are not . There are some declining trends in margins, ratios and/or cash flow. Guarantor(s) have strong net worth(s), but assets may Grade 6 Special mention assets have potential weaknesses that may, not Company’s position at some future date. These assets pose elevated risk, but their weakness does not may may . not Grade 7 A ‘‘substandard’’ extension of credit is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Extensions of credit so classified should have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not not Substandard assets have a high probability of payment default, or they have other well-defined weaknesses. They require supervision that is more intensive by Company management. Substandard assets are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity, or marginal capitalization. Repayment may Grade 8 An extension of credit classified ‘‘doubtful’’ has all the weaknesses inherent in one may may may not Grade 9 - Loss Extensions of credit classified ‘‘loss’’ are considered uncollectible and of such little value that their continuance as bankable assets is not not no not may not With loss assets, the underlying borrowers are often in bankruptcy, have formally suspended debt repayments, or have otherwise ceased normal business operations. Once an asset is classified loss, there is little prospect of collecting either its principal or interest. Consumer purpose loans are initially assigned a default loan grade of 99 6, 7, 8 Credit quality indicators by class of loan were as follows at December 31, 2017: Pass Special Mention Substandard Total Commercial, Industrial and Agricultural $ 135,833 $ 5 $ 2,868 $ 138,706 1-4 Family Residential Real Estate 108,426 1,392 2,114 111,932 1-4 Family HELOC 71,927 - 90 72,017 Multi-family and Commercial Real Estate 259,123 - 1,921 261,044 Construction, Land Development and Farmland 149,886 2,998 3,568 156,452 Consumer 17,605 - - 17,605 Other 14,694 - - 14,694 Total $ 757,494 $ 4,395 $ 10,561 $ 772,450 Credit quality indicators by class of loan were as follows at December 31, 2016: Pass Special Mention Substandard Total Commercial, Industrial and Agricultural $ 129,880 $ - $ 4,524 $ 134,404 1-4 Family Residential Real Estate 109,592 1,427 2,012 113,031 1-4 Family HELOC 55,981 - 1,479 57,460 Multi-family and Commercial Real Estate 211,938 - 3,701 215,639 Construction, Land Development and Farmland 111,663 1,767 2,459 115,889 Consumer 17,240 - - 17,240 Other 13,745 - - 13,745 Total $ 650,039 $ 3,194 $ 14,175 $ 667,408 Past due loan balances by class of loan were as follows at December 31, 2017: 30-59 Days 60-89 Days 90+ Days Past Due Total Current Total Loans Commercial, Industrial and Agricultural $ 7 $ - $ 1,548 $ 1,555 $ 137,151 $ 138,706 1-4 Family Residential Real Estate 617 - - 617 111,315 111,932 1-4 Family HELOC - 7 - 7 72,010 72,017 Multi-family and Commercial Real Estate 1,254 - - 1,254 259,790 261,044 Construction, Land Development and Farmland 265 444 2,073 2,782 153,670 156,452 Consumer 14 - - 14 17,591 17,605 Other - - - - 14,694 14,694 Total $ 2,157 $ 451 $ 3,621 $ 6,229 $ 766,221 $ 772,450 Past due loan balances by class of loan were as follows at December 31, 2016: 30-59 Days 60-89 Days 90+ Days Past Due Total Current Total Loans Commercial, Industrial and Agricultural $ 207 $ 1,586 $ 375 $ 2,168 $ 132,236 $ 134,404 1-4 Family Residential Real Estate 7 - 286 293 112,738 113,031 1-4 Family HELOC - - - - 57,460 57,460 Multi-family and Commercial Real Estate - - - - 215,639 215,639 Construction, Land Development and Farmland 58 - 730 788 115,101 115,889 Consumer 193 - - 193 17,047 17,240 Other - - - - 13,745 13,745 Total $ 465 $ 1,586 $ 1,391 $ 3,442 $ 663,966 $ 667,408 There were no 90 December 31, 201 7 2016. Troubled debt restructurings occurring during the year ended December 31, 2017 Number of Contracts Pre-Modification Recorded Post-Modification Recorded Construction, land development and farmland 2 $ 2,110 $ 1,640 Troubled debt restructurings occurring during the year ended December 31, 201 6 Number of Contracts Pre-Modification Recorded Post-Modification Recorded Construction, land development and farmland 2 $ 1,712 $ 1,712 Troubled debt restructurings occurring during the year en ded December 31, 2015 Number of Contracts Pre-Modification Recorded Post-Modification Recorded 1-4 family residential real estate 1 $ 196 $ 196 During the year ended December 31, 2017, two $470, no $308 December 31, 2017. $108 December 31, 2017 no There were no he years ended December 31, 2016 2015. no not no December 31, 2017, 2016 2015. As part of an acquisition completed during 2015, not December 31, 2017 2016, 2017 2016 Commercial, Industrial and Agricultural $ 298 $ 385 Multi-family and Commercial Real Estate 1,217 3,321 Construction, Land Development and Farmland 1,508 1,569 1-4 Family Residential Real Estate 47 92 1-4 Family HELOC - 36 Total outstanding balance 3,070 5,403 Less remaining purchase discount 156 635 Allowance for loan losses 4 6 Carrying amount, net of allowance $ 2,910 $ 4,762 During the years ended December 31, 2017, $354 December 31, 2016, $708 Activity related to the accretable portion of the purchase discount on loans acquired with deteriorated credit quality is as follows for the years ended December 31, 2017, 2016 2015: Balance at January 1, 2015 $ - New loans acquired 478 Accretion income (97 ) Reclassification to nonaccretable (148 ) Balance at December 31, 2015 233 Accretion income (146 ) Balance at December 31, 2016 87 Accretion income (87 ) Balance at December 31, 2017 $ - The Company decreased the allowance for loan losses on purchased credit impaired loans by $2 $241 December 31, 2017 2016, $247 December 31, 2015. In the normal course of business, the Company will enter into various credit arrangements with its executive officers, directors and their affiliates. These arrangements generally take the form of commercial lines of credit, personal lines of credit, mortgage loans, term loans or revolving arrangements secured by personal residences. An analysis of the activity with respect to loans to related parties for the years ended December 31, 2017, 2016 2015, 2017 2016 Balance - January 1 $ 11,935 $ 10,484 New loans during the year 4,356 4,442 Repayments during the year (7,710 ) (2,991 ) Balance - December 31 $ 8,581 $ 11,935 As of December 31, 2017 2016, none 2017, 2016 2015. |
Note 4 - Fair Values of Assets
Note 4 - Fair Values of Assets and Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 4 S OF ASSETS AND LIABILITIES The following table sets forth the Company’s major categories of assets and liabilities measured at fair value on a recurring basis, by level within the fair value hierarchy, as of December 31, 2017 2016: Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) December 31, 2017 Assets U. S. Treasury and other U. S. government agencies $ 17,288 $ - $ 17,288 $ - State and municipal 191,752 - 191,752 - Corporate bonds 1,492 - 1,492 - Mortgage backed securities 6,169 - 6,169 - Time deposits 3,500 3,500 - - Interest rate swap 155 - 155 - Liabilities Interest rate swap $ 180 $ - $ 180 $ - December 31, 2016 Assets U. S. Treasury and other U. S. government agencies $ 1,908 $ - $ 1,908 $ - State and municipal 119,634 - 119,634 - Corporate bonds 1,987 - 1,987 - Mortgage backed securities 20,034 - 20,034 - Time deposits 3,250 3,250 - - Interest rate swap 195 - 195 - Liabilities Interest rate swap $ 267 $ - $ 267 $ - The following table sets forth the Company’s major categories of assets and liabilities measured at fair value on a nonrecurring basis, by level within the fair value hierarchy, as of December 31, 2017 2016: Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) December 31, 2017 Assets Impaired loans $ 2,286 $ - $ - $ 2,286 December 31, 2016 Assets Impaired loans $ 3,410 $ - $ - $ 3,410 Mortgage loans held for sale 11,831 - 11,831 - The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which we have utilized Level 3 fair value at December 31, 2017 2016: Valuation Significant Range Techniques (1) Unobservable Inputs (Weighted Average) Impaired loans Appraisal Estimated costs to sell 10% Mortgage loans held for sale Pricing Model Not applicable Not applicable ( 1 The fair value is generally determined through independent appraisals of the underlying collateral, which may 3 not not Estimated cash flows change and appraised values of the assets or collateral underlying the loans will be sensitive to changes. Carrying amount s and estimated fair values of financial instruments, by level within the fair value hierarchy, at December 31, 2017 Quoted Prices in Significant Active Markets Other Significant Estimated for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs Amount Value (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 20,497 $ 20,497 $ 20,497 $ - $ - Federal funds sold 171 171 - 171 - Loans, net 762,488 762,574 - - 762,574 Mortgage loans held for sale 45,322 46,467 - 46,467 - Accrued interest receivable 5,744 5,744 - 5,744 - Restricted equity securities 7,774 7,774 - 7,774 - Financial liabilities Deposits 883,519 882,533 - - 882,533 Accrued interest payable 305 305 - 305 - Federal Home Loan Bank advances 96,747 96,754 - 96,754 - Carrying amounts and estimated fair values of financial instruments, by level within the fair value hierarchy, at December 31, 201 6 Quoted Prices in Significant Active Markets Other Significant Estimated for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs Amount Value (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 23,413 $ 23,413 $ 23,413 $ - $ - Federal funds sold 830 830 - 830 - Loans, net 657,701 658,130 - - 658,130 Accrued interest receivable 3,786 3,786 - 3,786 - Restricted equity securities 7,133 7,133 - 7,133 - Financial liabilities Deposits 763,834 763,174 - - 763,174 Accrued interest payable 107 107 - 107 - Federal funds purchased 3,671 3,671 - 3,671 - Federal Home Loan Bank advances 32,287 32,444 - 32,444 - The method s and assumptions used to estimate fair value are described as follows: Carrying amount is the estimated fair value for cash and cash equivalents, accrued i nterest receivable and payable, restricted equity securities, demand deposits, and variable rate loans or deposits that reprice frequently and fully. For fixed rate loans or deposits and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk. Fair value of debt is based on current rates for similar financing. The fair value of off-balance-sheet items is not |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5 The detail of premises and equipment at December 31, 2017 2016 2017 2016 Land $ 1,211 $ 1,211 Buildings 4,717 4,717 Construction in progress 284 368 Leasehold improvements 4,727 3,828 Furniture, fixtures and equipment 8,145 7,316 19,084 17,440 Less: accumulated depreciation (9,294 ) (8,347 ) $ 9,790 $ 9,093 Depreciation and amortization expense was $1,017, $976 $890 December 31, 2017, 2016 2015, |
Note 6 - Restricted Equity Secu
Note 6 - Restricted Equity Securities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Restricted Equity Securities [Text Block] | NOTE 6 T he Company owned the following restricted equity securities as of December 31, 2017 2016: 2017 2016 Federal Reserve Bank $ 3,546 $ 2,906 Federal Home Loan Bank 4,228 4,227 Total $ 7,774 $ 7,133 |
Note 7 - Goodwill and Core Depo
Note 7 - Goodwill and Core Deposit Intangible | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 7 The following presents the balances as of December 31, 2017, 2016 2015, 2017 2016 2015 Goodwill $ 11,404 $ 11,404 $ 11,404 Amortized intangible assets: Core deposit intangibles $ 2,946 $ 2,946 $ 2,946 Less accumulated amortization (1,666 ) (1,364 ) (1,008 ) $ 1,280 $ 1,582 $ 1,938 Amortization expense was $302, $356 $300 December 31, 2017, 2016 2015, Estimated future amortization expense as of December 31, 2017 2018 $ 226 2019 226 2020 226 2021 226 2022 226 Thereafter 150 Total $ 1,280 |
Note 8 - Deposits
Note 8 - Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 8 Contractual maturities of time deposit accounts for the next five December 31, 2017 Maturity 2018 $ 376,446 2019 59,516 2020 13,815 2021 5,113 2022 3,173 $ 458,063 The aggregate amount of overdrafts reclassified to loans receivable was $118 $154 December 31, 2017 2016, At December 31, 2017 2016 , time deposits in excess of $250 $264,814 $221,136 Deposits from principal officers, directors, and their affiliates at December 31, 2017 2016 $14,280 $14,151, |
Note 9 - Federal Home Loan Bank
Note 9 - Federal Home Loan Bank Advances | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Federal Home Loan Bank, Advances [Text Block] | NOTE 9 At December 31, 2017 2016 Maturities January 2018 through March 2024, fixed rates ranging from 1.22% to 2.99% $ 96,747 $ 32,287 Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The weighted average rate of the total borrowings at December 31, 2017 2016 1.54% 1.29%, 31, 2017 2016 1.43% .65%, $380,111 $332,419 December 31, 2017 2016, $5,924 $30,484 December 31, 2017 2016, Required future principal payments on Federal Home Loan Bank borrowings are as follows: 2018 $ 92,398 2019 708 2020 721 2021 963 2022 612 Thereafter 1,345 Total $ 96,747 |
Note 10 - Benefit Plans
Note 10 - Benefit Plans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | NOTE 10 - BENEFIT PLANS The Company has a 401 100% 100% first 3% 50% 2% $450 2017, $467 2016 $416 2015. |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 1 1 On December 22, 2017, The Tax Reform Act permanently reduces the U.S. federal corporate income tax rate from 35% 21%, 2017. one $6 10 December 31, 2017. The income tax expense consists of the following for the years ended December 31: 2017 2016 2015 Income tax expense Current $ 1,438 $ 1,978 $ 2,474 Deferred 504 235 (203 ) Total provision for income tax expense $ 1,942 $ 2,213 $ 2,271 A reconciliation of the income tax expense for the years ended December 31, 2017, 2016 2015 34 2017 2016 2015 Computed “expected” tax expense $ 2,756 34 % $ 3,437 34 % $ 2,806 34 % Increase (decrease) in tax expense resulting from: Federal income tax rate change 620 8 % - 0 % - 0 % State tax expense, net of federal tax effect 331 4 % 404 4 % 348 4 % Tax exempt interest (1,452 ) -18 % (923 ) -9 % (569 ) -7 % Disallowed interest expense 193 2 % 56 1 % 53 1 % Incentive stock options 33 0 % 22 0 % 23 0 % Cash surrender value of life insurance contracts (285 ) -4 % (255 ) -3 % (184 ) -2 % Officers life insurance expense - 0 % 7 0 % 2 0 % Excess tax benefit from stock compensation (184 ) -2 % (478 ) -5 % - 0 % Nondeductible merger expenses 173 2 % - 0 % 143 2 % Federal and state tax credits (667 ) -8 % (499 ) -5 % (123 ) -1 % Benefit of subsidiary net loss - 0 % - 0 % (159 ) -2 % Subsidiary disregarded for federal taxes 347 4 % 378 4 % (88 ) -1 % Others as a group 77 1 % 64 1 % 19 0 % Total income tax expense $ 1,942 23 % $ 2,213 22 % $ 2,271 28 % The Company files a separate Federal tax return for the operations of the mortgage banking and banking operations. The taxable income or losses of the mortgage banking operations are included in the respective returns of the Company and non-controlling members for Federal purposes. During 2015, $159 2014 December 31, 2015. The Company ’s income tax filings from the years ending December 31, 2014 During the year s ended December 31, 2017, 2016 2015, 1,840 $1,289 $132 $15, $14 149 Significant components of deferred tax assets as of December 31, 2017, 2016 2015 2017 2016 2015 Organizational and start-up costs $ 98 $ 188 $ 231 Core deposit intangible (215 ) (403 ) (513 ) Goodwill (84 ) (109 ) (94 ) Acquisition fair value adjustments 30 344 1,206 Allowance for loan losses 1,876 2,083 1,286 Loan fees 60 240 355 Other real estate - 19 70 Premises and equipment (427 ) (691 ) (645 ) Unrealized (gain) loss on available for sale securities (528 ) 1,312 23 Non-accrual loans 170 264 228 Other 119 190 236 Total $ 1,099 $ 3,437 $ 2,383 State $ 114 $ 418 $ 326 Federal 985 3,019 2,057 Net deferred tax asset $ 1,099 $ 3,437 $ 2,383 In assessing the future realization of deferred tax assets, management considers whether it is more likely than not not Management determined that as of December 31, 2017, not The Securities and Exchange Commission issued Staff Accounting Bulletin No. 118 December 22, 2017, one no may ’s financial statements during the measurement period would be included in income from continuing operations as an adjustment to income tax expense or benefit in the reporting period the amounts are determined. As noted above, the Company has recorded in income tax expense for 2017 ’s consolidated financial statements may may may one |
Note 12 - Stock-based Compensat
Note 12 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | NOTE 1 2 In 2006, 625,000 . As part of reorganization, all Commerce Union Bank options were replaced with Commerce Union Bancshares, Inc. options with no March 10, 2015, 1,250,000 Under the Stock Option Plan, stock option awards may ten . Exercise prices of incentive stock options must be equal to or greater than the fair market value of the common stock on the grant date. On June 18, 2015, 2015 900,000 December 31, 2017, A summary of the activity in the stock option p lan for 2017 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term Value Outstanding at January 1, 2017 241,541 $ 12.96 Granted 15,500 23.55 Exercised (72,080 ) 11.42 Forfeited or expired (14,200 ) 14.06 Outstanding at December 31, 2017 170,761 14.48 5.73 $ 1,905 Exercisable at December 31, 2017 95,861 13.00 3.75 $ 1,212 Vested and anticipated vesting shares as of December 31, 2017 168,514 14.45 5.73 $ 1,848 Weighted Average Shares Grant-Date Fair Value Non-vested options at January 1, 2017 96,600 $ 3.36 Granted 15,500 6.46 Vested (23,000 ) 6.95 Forfeited (14,200 ) 3.18 Non-vested options at December 31, 2017 74,900 4.14 Information related to the stock option plan during each year follows and assumes a 3% 2017 2016 Intrinsic value of options exercised $ 827 $ 2,272 Cash received from option exercises 823 4,772 Tax benefit realized from option exercises 133 478 The fair value of options granted during 2017 2016 $6.46 $3.82, 2017 2016 Risk-free interest rate 2.30 - 2.45% 1.33% - 2.45% Expected term (in years) 6.5 6.5 - 10 Expected stock price volatility 24% - 29.90% 21% - 24% Dividend yield 0.98% - 1.02% 1.02% - 1.57% The following table shows the activity rela ted to restricted stock for 2017 2016: 2017 2016 Non-vested shares at January 1, 48,465 30,500 Granted 50,050 23,800 Vested (13,016 ) (3,835 ) Forfeited (3,000 ) (2,000 ) Non-vested shares at December 31, 82,499 48,465 The shares issued had a average market value of $23.65 2017 $15.24 2016. one three December 31, 2017, $1,118 1.9 2017, $368. |
Note 13 - Regulatory Capital Re
Note 13 - Regulatory Capital Requirements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 13 The Company and the Bank are subject to regulatory capital requirements administered by the federal and state banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Management believes that as of December 31, 2017 2016 Prompt corrective action regulations provide five not s are required. At December 31, 2017 2016, no Actual and required capital amounts and ratios are present ed below as of December 31, 2017 2016. Actual Regulatory Capital Minimum Required Capital Including Capital Conservation Buffer To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio December 31, 2017 Company Tier I leverage $ 126,234 11.89 % $ 42,467 4.000 % $ 53,084 5.00 % Common equity tier 1 126,234 13.90 % 52,219 5.750 % 59,030 6.50 % Tier I risk-based capital 126,234 13.90 % 65,841 7.250 % 72,653 8.00 % Total risk-based capital 135,965 14.97 % 84,013 9.250 % 90,825 10.00 % Bank Tier I leverage $ 123,862 11.68 % $ 42,418 4.000 % $ 53,023 5.00 % Common equity tier 1 123,862 13.67 % 52,100 5.750 % 58,896 6.50 % Tier I risk-based capital 123,862 13.67 % 65,691 7.250 % 72,487 8.00 % Total risk-based capital 133,593 14.74 % 83,835 9.250 % 90,633 10.00 % December 31, 2016 Company Tier I leverage $ 96,682 10.86 % $ 35,610 4.000 % N/A N/A Common equity tier 1 96,682 13.00 % 38,115 5.125 % N/A N/A Tier I risk-based capital 96,682 13.00 % 49,271 6.625 % N/A N/A Total risk-based capital 105,764 14.22 % 64,150 8.625 % N/A N/A Bank Tier I leverage $ 95,637 10.75 % $ 35,586 4.000 % $ 44,482 5.00 % Common equity tier 1 95,637 12.88 % 38,054 5.125 % 48,264 6.50 % Tier I risk-based capital 95,637 12.88 % 49,192 6.625 % 59,402 8.00 % Total risk-based capital 104,719 14.10 % 64,057 8.625 % 74,269 10.00 % In July 2013, ’s regulators adopted revised regulatory capital requirements known as “Basel III”, which became effective January 1, 2015. 2.5% four |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 1 4 The Company has federal funds lines at other financial institutions with availability totaling $78,200 December 31, 2017. December 31, 2017, not December 31, 2016, $3,671 $20,000. December 31, 2017 $2,000. not December 31, 2016. may $12,900 December 31, 2017. no December 31, 2017 2016. At December 31, 2017 2016 , the Company has $210,000 $170,000 $208,829 $162,190 At December 31, 201 7, |
Note 15 - Leases
Note 15 - Leases | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | NOTE 15 – LEASES (CONTINUED) A summary of t he Company’s leased facilities (other than month-to-month agreements) follows: Base Lease Term Base Lease With Renewal Escalation Property Description (In Tennesee unless noted) Expiration Date Periods Clause 1736 Carothers Parkway, Brentwood February 28, 2025 25 years 3% annually 6005 Nolensville Road, Nashville September 30, 2018 20 years none 5109 Peter Taylor Park Drive, Brentwood July 31, 2016 17 years 3% annually 101 Creekstone Boulevard, Franklin March 31, 2026 20 years 1% annually 711 East Main Street, Suite 105, Hendersonville October 31, 2017 5 years 2.5% annually 105 Continental Place, Brentwood December 31, 2020 4 years 3% annually 633 Chestnut St., Chattanooga February 28, 2018 2 months none 6100 Tower Circle, Franklin December 31, 2027 10 years 2.5% annually 1835 E. Northfield Blvd. Murfreesboro September 30, 2027 15 years 3% biannually then 3% annually 4108 Hillsboro Pike, Nashville November 30, 2021 27 years 10% after 5th year of initial term The Company has classified all leases as operating lease agreements for office space, copiers, and an automobile. Future minimum rental payments required under the terms of the non-cancellable leases are as follows: Year Ending December 31, 2018 $ 2,103 2019 2,094 2020 2,124 2021 1,775 2022 1,496 Thereafter 5,380 Total $ 14,972 Total rent expense under the leases amounted to $2,055, $1,954 $2,094, December 31, 2017, 2016 2015. |
Note 16 - Related Party Transac
Note 16 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 16 The main office , operations center, and Franklin branch were previously leased from Corporations in which owners in the Corporations serve as members of the Company’s Board of Directors. The amounts paid under these leases totaled $44 $599 December 31, 2016 2015, |
Note 17 - Financial Instruments
Note 17 - Financial Instruments with Off-balance-sheet Risk | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Financial Instruments with Off-balance Sheet Risk [Text Block] | NOTE 1 7 Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection lines, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may not The contractual amounts of financial instruments with off-balance-sheet risk at December 31, 2017 2016 2017 2016 Unused lines of credit Fixed $ 49,637 $ 44,371 Variable 135,951 114,648 Standby letters of credit 13,176 12,217 Total $ 198,764 $ 171,236 |
Note 18 - Derivatives
Note 18 - Derivatives | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Derivatives and Fair Value [Text Block] | NOTE 1 8 During the year ended December 31, 2015, to swap agreements totaling $11,200 The total notional amount of swap agreements was $21,505 December 31, 2017, 2016 2015. December 31, 2017, $155 $180 December 31, 2016, $195 $267 The derivative instruments held by the Company are designated and qualify as fair value hedges. Accordingly, the gain or loss on the derivatives as well as the offsetting gain or loss on the available-for-sale securities attributable to the hedged risk are recognized in current earnings. At December 31, 2017, not . |
Note 19 - Earnings Per Share
Note 19 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 19 The following is a summary of the components comprising basic and diluted earnings per common share of stock (EPS) for the years ended December 31: Year Ended 2017 2016 2015 Basic EPS Computation Net income attributable to common shareholders $ 7,246 $ 8,936 $ 5,575 Weighted average common shares outstanding 8,151,492 7,586,993 6,329,316 Basic earnings per common share $ 0.89 $ 1.18 $ 0.88 Diluted EPS Computation Net income attributable to common shareholders $ 7,246 $ 8,936 $ 5,575 Weighted average common shares outstanding 8,151,492 7,586,993 6,329,316 Dilutive effect of stock options and restricted shares 87,809 104,500 149,636 Adjusted weighted average common shares outstanding 8,239,301 7,691,493 6,478,952 Diluted earnings per common share $ 0.88 $ 1.16 $ 0.86 |
Note 20 - Segment Reporting
Note 20 - Segment Reporting | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 2 0 The Company has two . Revenues and expenses for segments reflect those, which can be specifically identified and have been assigned based on internally developed allocation methods. Financial results have been presented, to the extent practicable, as if each segment operated on a stand-alone basis. Retail Banking Residential Mortgage Banking originates first third The following tables present summarized results of operations for the Company’s business segments: Year Ended December 31, 2017 Retail Banking Residential Mortgage Banking Elimination Entries Consolidated Net interest income $ 33,761 $ 726 $ - $ 34,487 Provision for loan losses 1,316 - - 1,316 Noninterest income 2,333 3,805 (128 ) 6,010 Noninterest expense 25,524 5,552 - 31,076 Income tax expense (benefit) 2,008 (66 ) - 1,942 Net income (loss) 7,246 (955 ) (128 ) 6,163 Noncontrolling interest in net loss of subsidiary - 955 128 1,083 Net income attributable to common shareholders $ 7,246 $ - $ - $ 7,246 Year Ended December 31, 2016 Retail Banking Residential Mortgage Banking Elimination Entries Consolidated Net interest income $ 32,035 $ 617 $ - $ 32,652 Provision for loan losses 968 - - 968 Noninterest income 2,481 6,319 - 8,800 Noninterest expense 22,327 8,047 - 30,374 Income tax expense 2,285 (72 ) - 2,213 Net income 8,936 (1,039 ) - 7,897 Noncontrolling interest in net income of subsidiary - 1,039 - 1,039 Net income attributable to common shareholders $ 8,936 $ - $ - $ 8,936 The following tables present summarized results of operations for the Company’s business segments: Year Ended December 31, 2015 Retail Banking Residential Mortgage Banking Elimination Entries Consolidated Net interest income $ 25,931 $ 1,239 $ - $ 27,170 Provision for loan losses (270 ) - - (270 ) Noninterest income 1,383 10,999 - 12,382 Noninterest expense 19,590 11,979 - 31,569 Income tax expense 2,419 (148 ) - 2,271 Net income 5,575 407 - 5,982 Noncontrolling interest in net loss of subsidiary - (407 ) - (407 ) Net income attributable to common shareholders $ 5,575 $ - $ - $ 5,575 |
Note 21 - Business Combination
Note 21 - Business Combination | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 21 On March 10, 2015, April 1, 2015 1.0213 44.5% 55.5% The Merger was accounted for as a reverse merger using the acquisition method of accounting, in accordance with th e provisions of FASB ASC Topic 805 10 not These financial statements include the results attributable to the operations of Commerce Uni on beginning on April 1, 2015. December 31, 2017 , Commerce Union Bancshares, Inc. changed its name to Reliant Bancorp, Inc. The following table details the financial impact of the merger, including the calculation of the purchase price, the allocation of the purchase price to the fair values of net assets assumed and goodwill recognized: Calculation of Purchase Price Shares of Commerce Union common stock outstanding as of March 31, 2015 3,069,030 Estimated market price of Commerce Union common stock on April 1, 2015 $ 14.95 Estimated fair value of Commerce Union common stock 45,882 Estimated fair value of Commerce Union stock options 2,019 Total consideration $ 47,901 Allocation of Purchase Price Total consideration above $ 47,901 Fair value of assets acquired and liabilities assumed Cash and cash equivalents $ 12,378 Investment securities available for sale 29,487 Loans 248,122 Premises and equipment 5,807 Deferred tax asset, net 549 Bank owned life insurance 4,181 Core deposit intangible 1,901 Prepaid and other assets 4,229 Deposits (247,307 ) Securities sold under repurchase agreements (488 ) Other borrowings (20,856 ) Payables and other liabilities (733 ) Total fair value of net assets acquired 37,270 Goodwill $ 10,631 Pro forma data for the year ended December 31, 2015 Net interest income $ 30,355 Net income attributable to common shareholders 6,221 Earnings per share—basic 0.88 Earnings per share—diluted 0.85 Supplemental pro forma earnings in the above table for the years ended December 31, 2015 $849 |
Note 22 - Quarterly Financial R
Note 22 - Quarterly Financial Results (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 2 2 The following is a summary of consolidated quarterly financial results for the year ended December 31, 2017: First Second Third Fourth Quarter Quarter Quarter Quarter Interest income $ 8,973 $ 9,704 $ 10,627 $ 10,854 Net interest income 7,971 8,503 9,096 8,917 Consolidated net income 1,559 1,794 1,840 970 Noncontrolling interest in net (income) loss of subsidiary 499 393 6 185 Net income attributable to common shareholders 2,058 2,187 1,846 1,155 Basic earnings per share 0.27 0.28 0.23 0.13 Diluted earnings per share 0.26 0.28 0.22 0.13 The following is a summary of consolidated quarterly financial results for the year ended December 31, 201 6: First Second Third Fourth Quarter Quarter Quarter Quarter Interest income $ 8,914 $ 9,497 $ 8,656 $ 8,948 Net interest income 8,082 8,692 7,835 8,043 Consolidated net income 2,558 2,137 1,763 1,439 Noncontrolling interest in net (income) loss of subsidiary (321 ) 223 605 532 Net income attributable to common shareholders 2,237 2,360 2,368 1,971 Basic earnings per share 0.30 0.31 0.31 0.26 Diluted earnings per share 0.30 0.31 0.30 0.25 The following is a summary of consolidated quarterly financial results for the year ended December 31, 201 5: First Second Third Fourth Quarter Quarter Quarter Quarter Interest income $ 4,473 $ 8,224 $ 8,483 $ 8,708 Net interest income 4,069 7,481 7,719 7,901 Consolidated net income 541 1,570 2,340 1,531 Noncontrolling interest in net (income) loss of subsidiary 71 32 (507 ) (3 ) Net income attributable to common shareholders 612 1,602 1,833 1,528 Basic earnings per share 0.16 0.23 0.26 0.21 Diluted earnings per share 0.15 0.22 0.25 0.21 |
Note 23 - Mortgage Operations
Note 23 - Mortgage Operations | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Investment in Joint Ventures [Text Block] | NOTE 2 3 During 2011, Company and VHC Fund 1, 51% 30% 1, 49% 70% 1, 70% 30% 100% 100% 2017, 2016 2015 -controlling interest in net (income) loss of subsidiary on the accompanying consolidated statements of operations. At December 31, 2017 2016, $342 $632, . Direct costs incurred by the Company attributable to the mortgage operations are allocated to the Venture as well as rent, personnel and core processing . As of December 31, 2017, $4,352. |
Note 24 - Parent Company Conden
Note 24 - Parent Company Condensed Financial Information | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Condensed Financial Statements [Text Block] | NOTE 2 4 The following tables present parent company condensed financial statements for Reliant Bancorp, Inc.: CONDENSED BALANCE SHEET DECEMBER 31 2017 2016 ASSETS Cash and cash equivalents $ 1,709 $ 166 Due from bank - 1,711 Investment in subsidiary 137,765 105,874 Other assets 1,841 920 Total assets $ 141,315 $ 108,671 LIABILITIES AND EQUITY Dividend payable 542 1,711 Accrued expenses and other liabilities 636 41 Shareholders'equity 140,137 106,919 Total liabilities and shareholders' equity $ 141,315 $ 108,671 CONDENSED STATEMENT OF INCOME YEARS ENDED DECEMBER 31 2017 2016 2015 Dividends from subsidiary $ 2,141 $ 3,161 $ 3,139 Other expense 2,920 1,326 1,413 Income before income tax and undistributed income from subsidiary (779 ) 1,835 1,726 Income tax expense (benefit) (922 ) (508 ) (446 ) Equity in undistributed income from subsidiary 7,103 6,593 3,403 Net income attributable to common shareholders $ 7,246 $ 8,936 $ 5,575 CONDENSED STATEMENT OF CASH FLOWS YEARS ENDED DECEMBER 31 2017 2016 2015 Cash flows from operating activities Net income attributable to common shareholders $ 7,246 $ 8,936 $ 5,575 Reclassification of federal income tax rate change (245 ) - - Adjustments: Equity in undistributed income from subsidiary (7,103 ) (6,593 ) (3,403 ) Change in other assets 790 (219 ) (2,337 ) Change in other liabilities 595 (582 ) 336 Net cash from operating activities 1,283 1,542 171 Cash flows from investing activities Investment in subsidiary (21,195 ) (4,772 ) (1,895 ) Cash from merger - - 17 Net cash used in investing activities (21,195 ) (4,772 ) (1,878 ) Cash flows from financing activities Dividends paid (3,193 ) (1,489 ) - Proceeds from equity issuances, net 24,648 4,772 1,820 Net cash from financing activities 21,455 3,283 1,820 Net change in cash and cash equivalents 1,543 53 113 Beginning cash and cash equivalents 166 113 - Ending cash and cash equivalents $ 1,709 $ 166 $ 113 |
Note 25 - Subsequent Events
Note 25 - Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 25 Business Combination Effective January 1, 2018, Community First”). In connection with the business combination, shares of Community First common stock were exchanged for .481 The following table details the financial impact of the merger, including the calculation of the purchase price, the allocation of the purchase price to the fair values of net assets assumed and goodwill recognized: Calculation of Purchase Price Shares of Community First common stock outstanding as of December 31, 2017 5,025,884 Exchange ratio for Reliant Bancorp, Inc. common stock 0.481 Share conversion 2,417,450 Reliant Bancorp, Inc. common stock shares issued 2,416,444 Reliant Bancorp, Inc. share price at December 29, 2017 $ 25.64 Value of Reliant Bancorp, Inc. common stock shares issued $ 61,958 Value of fractional shares redeemed for cash 25 Estimated fair value of Community First $ 61,983 Allocation of Purchase Price Total consideration above $ 61,983 Fair value of assets acquired and liabilities assumed Cash and cash equivalents $ (33,128 ) Time deposits in other financial institutions (23,309 ) Investment securities available for sale (69,078 ) Loans, net of unearned income (313,040 ) Mortgage loans held for sale, net (910 ) Accrued interest receivable (1,165 ) Premises and equipment (9,585 ) Restricted equity securities (1,727 ) Cash surrender value of life insurance contracts (10,664 ) Other real estate owned (1,650 ) Deferred tax asset, net (4,885 ) Core deposit intangible (7,888 ) Other assets (1,888 ) Deposits—noninterest-bearing 80,395 Deposits—interest-bearing 352,100 Other borrowings 11,522 Payables and other liabilities 4,978 Net liabilities assumed (net assets acquired) $ (29,922 ) Goodwill $ 32,061 Leases The Company entered into multiple lease agreements subsequent to December 31, 2017. A summary of the Company’s subsequently leased facilities are as follows: Base Lease Term Lease Base Lease With Renewal Escalation Property Description Commencement Date Expiration Date Periods (in years) Clause 101 Creekstone Blvd., Franklin, TN April 1, 2018 January 31, 2022 4 3% annually 633 Chestnut St., Chattanooga, TN November 1, 2018 10 4th year - 2% annually thereafter 633 Chestnut St., Chattanooga, TN March 1, 2018 October 31, 2018 8 months None The future commitments under the lease s , excluding the Company’s share of excess operation cost or taxes are as follows: Year Ending December 31, 2018 $ 57 2019 179 2020 180 2021 181 2022 170 Thereafter 1,050 Total $ 1,817 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Nature of Operations [Policy Text Block] | Nature of Operations Effective December 31, 2017, (“the Company”). Organizational activities began in 2005. January 1, 2018, 25. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. The following is a brief summary of the significant policies. The consolidated financial statements as of and for the periods presented include the accounts of Reliant Bancorp, Inc., its wholly-owned subsidiary, Reliant Bank (the “Bank”), and the Bank’s 51% 21, April 1, 2015. 2015. |
Use of Estimates, Policy [Policy Text Block] | Use of E stimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions based on available information. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to determination of the allowance for loan losses, the valuation of other real estate, the valuation of debt and equity securities, the valuation of deferred tax assets and fair values of financial instruments. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations At December 31, 2017 , the Company had significant credit exposures to borrowers in real estate. If this industry experiences another economic slowdown and, as a result, the borrowers in this industry are unable to meet the obligations of their existing loan agreements, earnings could be negatively impacted. The Company is concentrated in the middle Tennessee regional market and the operating results are impacted by the economic conditions of that area. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, deposits with other financial institutions with maturities less than 90 one The Company maintains deposits in excess of the federal insurance amounts with other financial institutions. Management makes deposits only with financial institutions it considers financially sound. F ederal funds sold of $171 $830 December 31, 2017 2016, one |
Investment, Policy [Policy Text Block] | Securities The Company classifies its securities in one two 2015, Interest income includes purchase premiums and discounts amortized or accreted over the life of the related security as an adjustment to the yield without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. When the fair value of a debt security has declined below the amortized cost at the measurement date, if an entity intends to sell a security or is more likely than not ’s cost basis, the entity must recognize the other-than-temporary impairment (“OTTI”) in earnings. For a debt security with a fair value below the amortized cost at the measurement date where it is more likely than not not not The related OTTI loss on the debt security will be recognized in earnings to the extent of the credit losses, with the remaining impairment loss recognized in accumulated other comprehensive income. In estimating OTTI losses, management considers: the length of time and extent that fair value of the security has been less than the cost of the security, the financial condition and near term prospects of the issuer, cash flow, stress testing analysis on securities, when applicable, and the Company ’s ability and intent to hold the security for a period sufficient to allow for any anticipated recovery in fair value. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of unearned interest, deferred loan fees, and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using a straight-line method without anticipating prepayments. This treatment does not . Past due status is determined based on the contractual terms of the note. The accrual of interest is discontinued when a loan becomes 90 not When full collection of the remaining book balance is uncertain, interest payments received are applied to the principal balance outstanding. In some cases, when the remaining book balance of the loan is deemed fully collectible, payments are treated as interest income on a cash basis. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The restructuring of a loan is considered a “troubled debt restructuring” if the borrower is experiencing financial difficulties and the Company has granted a concession. Concessions may |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using historical loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, current economic conditions (national and local), and other factors such as changes in interest rates, portfolio concentrations, changes in the experience, ability, and depth of the lending function, levels of and trends in charged-off loans, recoveries, past due loans and volume and severity of classified loans. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The entire allowance is available for any loan that, in management’s judgment, should be charged off. During 2011, Company added an unallocated general reserve. This unallocated portion of the reserve was above the allocated amount calculated for each loan pool segment based on each loan pool’s historical loss experience adjusted for current economic and environmental factors. This unallocated reserve was added due to the volatility in credit losses and the uncertainty risk that is not 2015, A loan is impaired when full payment under the loan term s is not not |
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | Mortgage Loans Held for Sale Mortgage loans originated with the intent to sell to third December 31, 2016, $160 no December 31, 2017. |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Sales, Policy [Policy Text Block] | Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets or the terms of the related lease for leasehold improvements. The range of estimated useful lives for buildings is 30 40 3 25 3 7 Expenditures and improvements of premises and equipment are capitalized and those for maintenance and repairs are charged to earnings as incurred. |
Securities Owned Not Readily Marketable, Policy [Policy Text Block] | Restricted Equity Securities Each member of the Federal Reserve is required to subscribe to Federal Reserve Bank ( “FRB”) stock. The Bank is a member of the Federal Home Loan Bank (“FHLB”) system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may These stocks are carried at cost, classified as restricted equity securit ies, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. |
Real Estate, Policy [Policy Text Block] | Other Real Estate Real estate acquired in the settlement of loans is initially recorded at estimated fair value, less estimated cost to sell , if less than the carrying value of the loan when acquired. Based on periodic evaluations by management, the carrying values are reduced by a direct charge to earnings when they exceed net realizable value. Costs relating to the development and improvement of the property are capitalized up to fair value less cost to sell, while holding costs of the property are charged to expense in the period incurred. |
Cash Surrender Value of Life Insurance Policy [Policy Text Block] | Cash Surrender Value of Life Insurance Contracts The Company is the owner and beneficiary of various life insurance policies on certain key employees. These policies are recorded at their cash surrender values. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Term Assets Premises and equipment and other long-term assets are reviewed for impairment when events indicate their carrying amount may not written down to fair value, with a corresponding charge to earnings. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill represents that excess of the purchase price of over the fair value of assets and liabilities acquired in a 2015 21 2009 |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Loan Commitments and Related Financial Instruments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock Based Compensation Compensation cost recognized for stock options and restricted stock awards issued to employees is based on the fair value of these awards at the date of grant. A binomial model is utilized to estimate the fair value of stock options. Compensation cost is recognized over the required service period, generally defined as the vesting period. Additionally, during 2016, elected to adopt the provisions of ASU 2016 09, “Compensation - Stock Compensation (Topic 718 January 1, 2017. 2016 2016 09 January 1, 2016 not 2016 09 January 1, 2016 $184 $478, $0.02 $0.06 2017 2016, ASU 2016 09 |
Income Tax, Policy [Policy Text Block] | Income Taxes Income tax expense or benefit is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not not Management performs an evaluation of all income tax positions taken or expected to be taken in the course of preparing the Company’s income tax returns to determine whether the income tax positions meet a “more likely than not” no not not” The Company files income tax returns in the U.S. federal jurisdiction and various states. The Company’s federal and states income tax returns for years prior to fiscal year 2014 no |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Earnings per share is computed by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding plus shares representing the dilutive effect of stock options outstanding. |
Pension and Other Postretirement Plans, Nonpension Benefits, Policy [Policy Text Block] | Retirement Plan The Company has a 401 100% 100% first 3% 50% 2% 401 100% |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available for sale and derivatives . These gains and losses are recognized as a separate component of stockholders’ equity. |
Commitments and Contingencies, Policy [Policy Text Block] | Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not consolidated financial statements. |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restrictions on Cash Cash on hand or on deposit with the Federal Reserve Bank was required to meet regulatory reserve and clearing requirements. At December 31, 2017, $2,636. December 31, 2016, not December 31, 2015, $10,310. |
Stockholders' Equity, Policy [Policy Text Block] | Preferred Shares Pre ferred shares rights that can be set when issued as determined by the Board of Directors. |
Dividend Restriction [Policy Text Block] | Dividend Restriction Banking regulations require maintaining certain capital levels and may Company to shareholders. |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs Advertising costs are expensed as incurred and totaled $264, $684 $1,117 December 31, 2017, 2016 2015. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Va lue M easurements Financial accounting standards relating to fair value measurements establish a framework for measuring fair value . That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 3 three L evel 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level 2 Inputs to the valuation methodology include: ● Quoted prices for similar assets or liabilities in active markets; ● Quoted prices for identical or similar assets or liabilities in inactive markets; ● Inputs other than quoted prices that are observable for the asset or liability; ● Inputs that are derived principally from or corroborated by the observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 Level 3 Inputs to the valuation methodology are unobservable and reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. An asset ’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques should maximize the use of observable inputs and minimize the use of unobservable inputs. Following is a description of the valuation methodologies used for assets and liabilities measured at fair value on a recurring basis: S ecurities available for sale : 1 2 The Company obtains fair value measurements for securities available for sale from an independent pricing service. The fair value measurements consider observable data that may two Interest rate swaps: The fair values of interest rate swaps are determined based on discounted future cash flows. C ertain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not Impaired l oans may 3 Mortgage loans held for sale: A pricing model is used to estimate the fair value of mortgage loans held for sale. The Company uses a model as developed and performed by an independent entity to value such loans. Other real estate owned: The fair value o may 3 No The methods described above may may not . Furthermore, while the Company’s valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 4. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain reclassifications have been made in the 2016 2015 2017 no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Authoritative Accounting Guidance The following discusses new authoritative accounting guidance and the related impact on the Company. ASU 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09 2014 09 January 1, 2017; 2015 14, “Revenue from Contracts with Customers (Topic 606 2014 09 one January 1, 2018. 2014 09, not 2014 09 ASU 2015 16, “Business Combinations (Topic 805 2015 16 January 1, 2016 not ASU 2016 01, Financial Instruments – Overall (Subtopic 825 10 2016 01, 2016 01 January 1, 2018 not ASU 2016 02, Leases (Topic 842 2016 02 2016 02 January 1, 2019 2016 02 ASU 2016 05 , “ Derivatives and Hedging (Topic 815 2016 05 815 not, 2016 05 January 1, 2017 not ASU 2016 09, “Compensation - Stock Compensation (Topic 718 2016 09, no 2016 09 2016 09 2016 09 2016 January 1, 2017. $478, $0.06 2016. not ASU 2016 13, “Financial Instruments - Credit Losses (Topic 326 2016 13 2016 13 2016 13 January 1, 2020. 2016 13 third 2016 13. 2016 13 2016 13 2016 13, ASU 2016 15 , “Statement of Cash Flows (Topic 230 2016 15 2016 15 January 1, 2018 not ASU 2016 16, “Income Taxes (Topic 740 2016 16 2016 16 January 1, 2018 not ASU 2016 18, “Statement of Cash Flows (Topic 230 2016 18 2016 18 January 1, 2018 not ASU 2017 01, “Business Combinations (Topic 805 2017 01 2017 01 2017 01 January 1, 2018 not ASU 2017 04, Intangibles - Goodwill and Other (Topic 350 2017 04 2 2017 04, not 2017 04 January 1, 2020, not ASU 2017 05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610 20 2017 05 610 20 2017 05 2017 05 January 1, 2018 not ASU 2017 08, “ Receivables - Nonrefundable Fees and Other Costs (Subtopic 310 20 2017 08 2017 08 not 2017 08 January 1, 2019, 2017 08 ASU 2017 09, Compensation - Stock Compensation (Topic 718 2017 09 2017 09, not 2017 09 January 1, 2018 not ASU 2017 12, Derivatives and Hedging (Topic 815 2017 12 815 2017 12 January 1, 2019 not ASU 2018 02, “I ncome Statement—Reporting Comprehensive Income (Topic 220 Income ” In February 2018, December 22, 2017. December 15, 2018, fourth 2017, $245 2017 |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | December 31, 2017 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value U. S. Treasury and other U. S. government agencies $ 17,339 $ 45 $ (96 ) $ 17,288 State and municipal 189,576 3,081 (905 ) 191,752 Corporate bonds 1,500 5 (13 ) 1,492 Mortgage backed securities 6,262 3 (96 ) 6,169 Time deposits 3,500 - - 3,500 Total $ 218,177 $ 3,134 $ (1,110 ) $ 220,201 December 31, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value U. S. Treasury and other U. S. government agencies $ 1,909 $ 4 $ (5 ) $ 1,908 State and municipal 122,813 446 (3,625 ) 119,634 Corporate bonds 2,000 8 (21 ) 1,987 Mortgage backed securities 20,197 11 (174 ) 20,034 Time deposits 3,250 - - 3,250 Total $ 150,169 $ 469 $ (3,825 ) $ 146,813 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Estimated Cost Fair Value Due within one year $ 5,004 $ 5,011 Due in one to five years 13,659 13,641 Due in five to ten years 11,246 11,347 Due after ten years 182,006 184,033 Mortgage backed securities 6,262 6,169 Total $ 218,177 $ 220,201 |
Schedule of Temporary Impairment Losses, Investments [Table Text Block] | Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Loss Fair Value Loss Fair Value Loss Description of Securities U. S. Treasury and other U. S. government agencies $ 9,057 $ 74 $ 1,345 $ 22 $ 10,402 $ 96 State and municipal 19,899 128 34,946 777 54,845 905 Corporate bonds - - 487 13 487 13 Mortgage backed securities 2,412 14 3,349 82 5,761 96 Total temporarily impaired $ 31,368 $ 216 $ 40,127 $ 894 $ 71,495 $ 1,110 Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Loss Fair Value Loss Fair Value Loss Description of Securities U. S. Treasury and other U. S. government agencies $ 748 $ 5 $ - $ - $ 748 $ 5 State and municipal 83,637 3,597 1,115 28 84,752 3,625 Corporate bonds 496 4 983 17 1,479 21 Mortgage backed securities 17,599 129 1,255 45 18,854 174 Total temporarily impaired $ 102,480 $ 3,735 $ 3,353 $ 90 $ 105,833 $ 3,825 |
Note 3 - Loans and Allowance 37
Note 3 - Loans and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, December 31, 2016 Commerical, Industrial and Agricultural $ 138,706 $ 134,404 Real Estate 1-4 Family Residential 111,932 113,031 1-4 Family HELOC 72,017 57,460 Multi-family and Commercial 261,044 215,639 Construction, Land Development and Farmland 156,452 115,889 Consumer 17,605 17,240 Other 14,694 13,745 772,450 667,408 Less Deferred loan fees 231 625 Allowance for possible loan losses 9,731 9,082 Loans, net $ 762,488 $ 657,701 |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | Commercial Industrial and Agricultural Multi Family and Commercial Construction Land Development and Farmland 1-4 Family Residential Real Estate Beginning balance $ 2,432 $ 2,737 $ 1,786 $ 1,178 Charge-offs (976 ) - (45 ) (14 ) Recoveries 378 - 5 - Provision 704 429 688 (391 ) Ending balance $ 2,538 $ 3,166 $ 2,434 $ 773 1-4 Family HELOC Consumer Other Total Beginning balance $ 704 $ 208 $ 37 $ 9,082 Charge-offs - (36 ) - (1,071 ) Recoveries 19 2 - 404 Provision (128 ) 9 5 1,316 Ending balance $ 595 $ 183 $ 42 $ 9,731 Commercial Industrial and Agricultural Multi Family and Commercial Construction Land Development and Farmland 1-4 Family Residential Real Estate Beginning balance $ 2,198 $ 2,591 $ 894 $ 1,214 Charge-offs (84 ) - - (25 ) Recoveries 323 18 6 66 Provision (5 ) 128 886 (77 ) Ending balance $ 2,432 $ 2,737 $ 1,786 $ 1,178 1-4 Family HELOC Consumer Other Total Beginning balance $ 699 $ 192 $ 35 $ 7,823 Charge-offs - - (36 ) (145 ) Recoveries 11 12 - 436 Provision (6 ) 4 38 968 Ending balance $ 704 $ 208 $ 37 $ 9,082 Commercial Industrial and Agricultural Multi Family and Commercial Construction Land Development and Farmland 1-4 Family Residential Real Estate Beginning balance $ 2,184 $ 2,070 $ 742 $ 642 Charge-offs - - - - Recoveries 346 388 7 15 Provision (332 ) 133 145 557 Ending balance $ 2,198 $ 2,591 $ 894 $ 1,214 1-4 Family HELOC Consumer Other Unallocated Total Beginning balance $ 854 $ 181 $ 2 $ 678 $ 7,353 Charge-offs (6 ) (35 ) - - (41 ) Recoveries 25 - - - 781 Provision (174 ) 46 33 (678 ) (270 ) Ending balance $ 699 $ 192 $ 35 $ - $ 7,823 |
Schedule of Allowance for Credit Losses and Finance Receivables by Portfolio Individually and Collectively Evaluated for Impairment [Table Text Block] | Commercial Industrial and Agricultural Multi Family and Commercial Construction Land Development and Farmland 1-4 Family Residential Real Estate Allowance for loan losses Individually evaluated for impairment $ 606 $ - $ 57 $ - Acquired with credit impairment 2 - 2 - Collectively evaluated for impairment 1,930 3,166 2,375 773 Total $ 2,538 $ 3,166 $ 2,434 $ 773 Loans Individually evaluated for impairment $ 3,649 $ 1,921 $ 3,800 $ 2,114 Acquired with credit impairment 276 1,157 1,436 45 Collectively evaluated for impairment 134,781 257,966 151,216 109,773 Total $ 138,706 $ 261,044 $ 156,452 $ 111,932 1-4 Family HELOC Consumer Other Total Allowance for loan losses Individually evaluated for impairment $ - $ - $ - $ 663 Acquired with credit impairment - - - 4 Collectively evaluated for impairment 595 183 42 9,064 Total $ 595 $ 183 $ 42 $ 9,731 Loans Individually evaluated for impairment $ 90 $ - $ - $ 11,574 Acquired with credit impairment - - - 2,914 Collectively evaluated for impairment 71,927 17,605 14,694 757,962 Total $ 72,017 $ 17,605 $ 14,694 $ 772,450 Commercial Industrial and Agricultural Multi Family and Commercial Construction Land Development and Farmland 1-4 Family Residential Real Estate Allowance for loan losses Individually evaluated for impairment $ 747 $ - $ 17 $ 27 Acquired with credit impairment - 6 - - Collectively evaluated for impairment 1,685 2,731 1,769 1,151 Total $ 2,432 $ 2,737 $ 1,786 $ 1,178 Loans Individually evaluated for impairment $ 5,375 $ 2,036 $ 2,544 $ 1,972 Acquired with credit impairment 329 2,852 1,481 89 Collectively evaluated for impairment 128,700 210,751 111,864 110,970 Total $ 134,404 $ 215,639 $ 115,889 $ 113,031 1-4 Family HELOC Consumer Other Total Allowance for loan losses Individually evaluated for impairment $ 62 $ - $ - $ 853 Acquired with credit impairment - - - 6 Collectively evaluated for impairment 642 208 37 8,223 Total $ 704 $ 208 $ 37 $ 9,082 Loans Individually evaluated for impairment $ 1,479 $ - $ - $ 13,406 Acquired with credit impairment 16 - - 4,767 Collectively evaluated for impairment 55,965 17,240 13,745 649,235 Total $ 57,460 $ 17,240 $ 13,745 $ 667,408 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | December 31, December 31, 2017 2016 Commercial, Industrial and Agricultural $ 2,110 $ 3,062 Multi-family and Commercial Real Estate - 636 Construction, Land Development and Farmland 2,518 730 1-4 Family Residential Real Estate 533 344 1-4 Family HELOC - 862 Total $ 5,161 $ 5,634 |
Impaired Financing Receivables [Table Text Block] | Unpaid Recorded Investment with no Allowance Recorded Recorded Investment with Allowance Recorded Total Recorded Related Commercial, Industrial and Agricultural $ 4,398 $ 2,959 $ 966 $ 3,925 $ 608 Multi-family and Commercial Real Estate 3,427 3,078 - 3,078 - Construction, Land Development and Farmland 5,317 3,249 1,987 5,236 59 1-4 Family Residential Real Estate 2,857 2,159 - 2,159 - 1-4 Family HELOC 90 90 - 90 - Total $ 16,089 $ 11,535 $ 2,953 $ 14,488 $ 667 Unpaid Recorded Investment with no Allowance Recorded Recorded Investment with Allowance Recorded Total Recorded Related Commercial, Industrial and Agricultural $ 6,383 $ 3,924 $ 1,780 $ 5,704 $ 747 Multi-family and Commercial Real Estate 5,666 2,914 1,974 4,888 6 Construction, Land Development and Farmland 4,124 3,854 171 4,025 17 1-4 Family Residential Real Estate 2,422 2,035 27 2,062 27 1-4 Family HELOC 2,075 1,178 317 1,495 62 Total $ 20,670 $ 13,905 $ 4,269 $ 18,174 $ 859 Unpaid Recorded Investment with no Allowance Recorded Recorded Investment with Allowance Recorded Total Recorded Related Commercial, Industrial and Agricultural $ 4,047 $ 2,145 $ 1,180 $ 3,325 $ 485 Multi-family and Commercial Real Estate 6,958 5,452 713 6,165 11 Construction, Land Development and Farmland 1,831 1,496 224 1,720 22 1-4 Family Residential Real Estate 3,763 3,009 372 3,381 241 1-4 Family HELOC 2,363 1,309 946 2,255 190 Total $ 18,962 $ 13,411 $ 3,435 $ 16,846 $ 949 |
Impaired Financing Receivables, Average Recorded Investment [Table Text Block] | 2017 2016 Commercial, industrial and agricultural $ 5,225 $ 6,055 Multi family and commercial real estate 4,138 5,837 Construction, land development and farmland 4,502 3,243 1-4 family residential real estate 2,212 2,715 1-4 family HELOC 784 1,854 Total $ 16,861 $ 19,704 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Special Mention Substandard Total Commercial, Industrial and Agricultural $ 135,833 $ 5 $ 2,868 $ 138,706 1-4 Family Residential Real Estate 108,426 1,392 2,114 111,932 1-4 Family HELOC 71,927 - 90 72,017 Multi-family and Commercial Real Estate 259,123 - 1,921 261,044 Construction, Land Development and Farmland 149,886 2,998 3,568 156,452 Consumer 17,605 - - 17,605 Other 14,694 - - 14,694 Total $ 757,494 $ 4,395 $ 10,561 $ 772,450 Pass Special Mention Substandard Total Commercial, Industrial and Agricultural $ 129,880 $ - $ 4,524 $ 134,404 1-4 Family Residential Real Estate 109,592 1,427 2,012 113,031 1-4 Family HELOC 55,981 - 1,479 57,460 Multi-family and Commercial Real Estate 211,938 - 3,701 215,639 Construction, Land Development and Farmland 111,663 1,767 2,459 115,889 Consumer 17,240 - - 17,240 Other 13,745 - - 13,745 Total $ 650,039 $ 3,194 $ 14,175 $ 667,408 |
Past Due Financing Receivables [Table Text Block] | 30-59 Days 60-89 Days 90+ Days Past Due Total Current Total Loans Commercial, Industrial and Agricultural $ 7 $ - $ 1,548 $ 1,555 $ 137,151 $ 138,706 1-4 Family Residential Real Estate 617 - - 617 111,315 111,932 1-4 Family HELOC - 7 - 7 72,010 72,017 Multi-family and Commercial Real Estate 1,254 - - 1,254 259,790 261,044 Construction, Land Development and Farmland 265 444 2,073 2,782 153,670 156,452 Consumer 14 - - 14 17,591 17,605 Other - - - - 14,694 14,694 Total $ 2,157 $ 451 $ 3,621 $ 6,229 $ 766,221 $ 772,450 30-59 Days 60-89 Days 90+ Days Past Due Total Current Total Loans Commercial, Industrial and Agricultural $ 207 $ 1,586 $ 375 $ 2,168 $ 132,236 $ 134,404 1-4 Family Residential Real Estate 7 - 286 293 112,738 113,031 1-4 Family HELOC - - - - 57,460 57,460 Multi-family and Commercial Real Estate - - - - 215,639 215,639 Construction, Land Development and Farmland 58 - 730 788 115,101 115,889 Consumer 193 - - 193 17,047 17,240 Other - - - - 13,745 13,745 Total $ 465 $ 1,586 $ 1,391 $ 3,442 $ 663,966 $ 667,408 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Number of Contracts Pre-Modification Recorded Post-Modification Recorded Construction, land development and farmland 2 $ 2,110 $ 1,640 Number of Contracts Pre-Modification Recorded Post-Modification Recorded Construction, land development and farmland 2 $ 1,712 $ 1,712 Number of Contracts Pre-Modification Recorded Post-Modification Recorded 1-4 family residential real estate 1 $ 196 $ 196 |
Schedule of Loans Acquired with Deteriorated Credit Quality [Table Text Block] | 2017 2016 Commercial, Industrial and Agricultural $ 298 $ 385 Multi-family and Commercial Real Estate 1,217 3,321 Construction, Land Development and Farmland 1,508 1,569 1-4 Family Residential Real Estate 47 92 1-4 Family HELOC - 36 Total outstanding balance 3,070 5,403 Less remaining purchase discount 156 635 Allowance for loan losses 4 6 Carrying amount, net of allowance $ 2,910 $ 4,762 |
Schedule of Activity Related to Accretable Yield of Loans Acquired with Evidence of Credit Quality Deterioration Since Origination [Table Text Block] | Balance at January 1, 2015 $ - New loans acquired 478 Accretion income (97 ) Reclassification to nonaccretable (148 ) Balance at December 31, 2015 233 Accretion income (146 ) Balance at December 31, 2016 87 Accretion income (87 ) Balance at December 31, 2017 $ - |
Schedule of Related Party Transactions [Table Text Block] | 2017 2016 Balance - January 1 $ 11,935 $ 10,484 New loans during the year 4,356 4,442 Repayments during the year (7,710 ) (2,991 ) Balance - December 31 $ 8,581 $ 11,935 |
Note 4 - Fair Values of Asset38
Note 4 - Fair Values of Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) December 31, 2017 Assets U. S. Treasury and other U. S. government agencies $ 17,288 $ - $ 17,288 $ - State and municipal 191,752 - 191,752 - Corporate bonds 1,492 - 1,492 - Mortgage backed securities 6,169 - 6,169 - Time deposits 3,500 3,500 - - Interest rate swap 155 - 155 - Liabilities Interest rate swap $ 180 $ - $ 180 $ - December 31, 2016 Assets U. S. Treasury and other U. S. government agencies $ 1,908 $ - $ 1,908 $ - State and municipal 119,634 - 119,634 - Corporate bonds 1,987 - 1,987 - Mortgage backed securities 20,034 - 20,034 - Time deposits 3,250 3,250 - - Interest rate swap 195 - 195 - Liabilities Interest rate swap $ 267 $ - $ 267 $ - Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) December 31, 2017 Assets Impaired loans $ 2,286 $ - $ - $ 2,286 December 31, 2016 Assets Impaired loans $ 3,410 $ - $ - $ 3,410 Mortgage loans held for sale 11,831 - 11,831 - |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Valuation Significant Range Techniques (1) Unobservable Inputs (Weighted Average) Impaired loans Appraisal Estimated costs to sell 10% Mortgage loans held for sale Pricing Model Not applicable Not applicable |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Quoted Prices in Significant Active Markets Other Significant Estimated for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs Amount Value (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 20,497 $ 20,497 $ 20,497 $ - $ - Federal funds sold 171 171 - 171 - Loans, net 762,488 762,574 - - 762,574 Mortgage loans held for sale 45,322 46,467 - 46,467 - Accrued interest receivable 5,744 5,744 - 5,744 - Restricted equity securities 7,774 7,774 - 7,774 - Financial liabilities Deposits 883,519 882,533 - - 882,533 Accrued interest payable 305 305 - 305 - Federal Home Loan Bank advances 96,747 96,754 - 96,754 - Quoted Prices in Significant Active Markets Other Significant Estimated for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs Amount Value (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 23,413 $ 23,413 $ 23,413 $ - $ - Federal funds sold 830 830 - 830 - Loans, net 657,701 658,130 - - 658,130 Accrued interest receivable 3,786 3,786 - 3,786 - Restricted equity securities 7,133 7,133 - 7,133 - Financial liabilities Deposits 763,834 763,174 - - 763,174 Accrued interest payable 107 107 - 107 - Federal funds purchased 3,671 3,671 - 3,671 - Federal Home Loan Bank advances 32,287 32,444 - 32,444 - |
Note 5 - Premises and Equipme39
Note 5 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2017 2016 Land $ 1,211 $ 1,211 Buildings 4,717 4,717 Construction in progress 284 368 Leasehold improvements 4,727 3,828 Furniture, fixtures and equipment 8,145 7,316 19,084 17,440 Less: accumulated depreciation (9,294 ) (8,347 ) $ 9,790 $ 9,093 |
Note 6 - Restricted Equity Se40
Note 6 - Restricted Equity Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Marketable Securities [Table Text Block] | 2017 2016 Federal Reserve Bank $ 3,546 $ 2,906 Federal Home Loan Bank 4,228 4,227 Total $ 7,774 $ 7,133 |
Note 7 - Goodwill and Core De41
Note 7 - Goodwill and Core Deposit Intangible (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | 2017 2016 2015 Goodwill $ 11,404 $ 11,404 $ 11,404 Amortized intangible assets: Core deposit intangibles $ 2,946 $ 2,946 $ 2,946 Less accumulated amortization (1,666 ) (1,364 ) (1,008 ) $ 1,280 $ 1,582 $ 1,938 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2018 $ 226 2019 226 2020 226 2021 226 2022 226 Thereafter 150 Total $ 1,280 |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Time Deposit Maturities [Table Text Block] | Maturity 2018 $ 376,446 2019 59,516 2020 13,815 2021 5,113 2022 3,173 $ 458,063 |
Note 9 - Federal Home Loan Ba43
Note 9 - Federal Home Loan Bank Advances (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Federal Home Loan Bank, Advances [Table Text Block] | 2017 2016 Maturities January 2018 through March 2024, fixed rates ranging from 1.22% to 2.99% $ 96,747 $ 32,287 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2018 $ 92,398 2019 708 2020 721 2021 963 2022 612 Thereafter 1,345 Total $ 96,747 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2017 2016 2015 Income tax expense Current $ 1,438 $ 1,978 $ 2,474 Deferred 504 235 (203 ) Total provision for income tax expense $ 1,942 $ 2,213 $ 2,271 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2017 2016 2015 Computed “expected” tax expense $ 2,756 34 % $ 3,437 34 % $ 2,806 34 % Increase (decrease) in tax expense resulting from: Federal income tax rate change 620 8 % - 0 % - 0 % State tax expense, net of federal tax effect 331 4 % 404 4 % 348 4 % Tax exempt interest (1,452 ) -18 % (923 ) -9 % (569 ) -7 % Disallowed interest expense 193 2 % 56 1 % 53 1 % Incentive stock options 33 0 % 22 0 % 23 0 % Cash surrender value of life insurance contracts (285 ) -4 % (255 ) -3 % (184 ) -2 % Officers life insurance expense - 0 % 7 0 % 2 0 % Excess tax benefit from stock compensation (184 ) -2 % (478 ) -5 % - 0 % Nondeductible merger expenses 173 2 % - 0 % 143 2 % Federal and state tax credits (667 ) -8 % (499 ) -5 % (123 ) -1 % Benefit of subsidiary net loss - 0 % - 0 % (159 ) -2 % Subsidiary disregarded for federal taxes 347 4 % 378 4 % (88 ) -1 % Others as a group 77 1 % 64 1 % 19 0 % Total income tax expense $ 1,942 23 % $ 2,213 22 % $ 2,271 28 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2017 2016 2015 Organizational and start-up costs $ 98 $ 188 $ 231 Core deposit intangible (215 ) (403 ) (513 ) Goodwill (84 ) (109 ) (94 ) Acquisition fair value adjustments 30 344 1,206 Allowance for loan losses 1,876 2,083 1,286 Loan fees 60 240 355 Other real estate - 19 70 Premises and equipment (427 ) (691 ) (645 ) Unrealized (gain) loss on available for sale securities (528 ) 1,312 23 Non-accrual loans 170 264 228 Other 119 190 236 Total $ 1,099 $ 3,437 $ 2,383 State $ 114 $ 418 $ 326 Federal 985 3,019 2,057 Net deferred tax asset $ 1,099 $ 3,437 $ 2,383 |
Note 12 - Stock-based Compens45
Note 12 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term Value Outstanding at January 1, 2017 241,541 $ 12.96 Granted 15,500 23.55 Exercised (72,080 ) 11.42 Forfeited or expired (14,200 ) 14.06 Outstanding at December 31, 2017 170,761 14.48 5.73 $ 1,905 Exercisable at December 31, 2017 95,861 13.00 3.75 $ 1,212 Vested and anticipated vesting shares as of December 31, 2017 168,514 14.45 5.73 $ 1,848 |
Schedule of Nonvested Share Activity [Table Text Block] | Weighted Average Shares Grant-Date Fair Value Non-vested options at January 1, 2017 96,600 $ 3.36 Granted 15,500 6.46 Vested (23,000 ) 6.95 Forfeited (14,200 ) 3.18 Non-vested options at December 31, 2017 74,900 4.14 |
Schedule of Information Related to Stock Option Plan [Table Text Block] | 2017 2016 Intrinsic value of options exercised $ 827 $ 2,272 Cash received from option exercises 823 4,772 Tax benefit realized from option exercises 133 478 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2017 2016 Risk-free interest rate 2.30 - 2.45% 1.33% - 2.45% Expected term (in years) 6.5 6.5 - 10 Expected stock price volatility 24% - 29.90% 21% - 24% Dividend yield 0.98% - 1.02% 1.02% - 1.57% |
Restricted Stock [Member] | |
Notes Tables | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | 2017 2016 Non-vested shares at January 1, 48,465 30,500 Granted 50,050 23,800 Vested (13,016 ) (3,835 ) Forfeited (3,000 ) (2,000 ) Non-vested shares at December 31, 82,499 48,465 |
Note 13 - Regulatory Capital 46
Note 13 - Regulatory Capital Requirements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Regulatory Capital Minimum Required Capital Including Capital Conservation Buffer To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio December 31, 2017 Company Tier I leverage $ 126,234 11.89 % $ 42,467 4.000 % $ 53,084 5.00 % Common equity tier 1 126,234 13.90 % 52,219 5.750 % 59,030 6.50 % Tier I risk-based capital 126,234 13.90 % 65,841 7.250 % 72,653 8.00 % Total risk-based capital 135,965 14.97 % 84,013 9.250 % 90,825 10.00 % Bank Tier I leverage $ 123,862 11.68 % $ 42,418 4.000 % $ 53,023 5.00 % Common equity tier 1 123,862 13.67 % 52,100 5.750 % 58,896 6.50 % Tier I risk-based capital 123,862 13.67 % 65,691 7.250 % 72,487 8.00 % Total risk-based capital 133,593 14.74 % 83,835 9.250 % 90,633 10.00 % December 31, 2016 Company Tier I leverage $ 96,682 10.86 % $ 35,610 4.000 % N/A N/A Common equity tier 1 96,682 13.00 % 38,115 5.125 % N/A N/A Tier I risk-based capital 96,682 13.00 % 49,271 6.625 % N/A N/A Total risk-based capital 105,764 14.22 % 64,150 8.625 % N/A N/A Bank Tier I leverage $ 95,637 10.75 % $ 35,586 4.000 % $ 44,482 5.00 % Common equity tier 1 95,637 12.88 % 38,054 5.125 % 48,264 6.50 % Tier I risk-based capital 95,637 12.88 % 49,192 6.625 % 59,402 8.00 % Total risk-based capital 104,719 14.10 % 64,057 8.625 % 74,269 10.00 % |
Note 15 - Leases (Tables)
Note 15 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Lessee, Operating Lease, Disclosure [Table Text Block] | Base Lease Term Base Lease With Renewal Escalation Property Description (In Tennesee unless noted) Expiration Date Periods Clause 1736 Carothers Parkway, Brentwood February 28, 2025 25 years 3% annually 6005 Nolensville Road, Nashville September 30, 2018 20 years none 5109 Peter Taylor Park Drive, Brentwood July 31, 2016 17 years 3% annually 101 Creekstone Boulevard, Franklin March 31, 2026 20 years 1% annually 711 East Main Street, Suite 105, Hendersonville October 31, 2017 5 years 2.5% annually 105 Continental Place, Brentwood December 31, 2020 4 years 3% annually 633 Chestnut St., Chattanooga February 28, 2018 2 months none 6100 Tower Circle, Franklin December 31, 2027 10 years 2.5% annually 1835 E. Northfield Blvd. Murfreesboro September 30, 2027 15 years 3% biannually then 3% annually 4108 Hillsboro Pike, Nashville November 30, 2021 27 years 10% after 5th year of initial term |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending December 31, 2018 $ 2,103 2019 2,094 2020 2,124 2021 1,775 2022 1,496 Thereafter 5,380 Total $ 14,972 |
Note 17 - Financial Instrumen48
Note 17 - Financial Instruments with Off-balance-sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | 2017 2016 Unused lines of credit Fixed $ 49,637 $ 44,371 Variable 135,951 114,648 Standby letters of credit 13,176 12,217 Total $ 198,764 $ 171,236 |
Note 19 - Earnings Per Share (T
Note 19 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended 2017 2016 2015 Basic EPS Computation Net income attributable to common shareholders $ 7,246 $ 8,936 $ 5,575 Weighted average common shares outstanding 8,151,492 7,586,993 6,329,316 Basic earnings per common share $ 0.89 $ 1.18 $ 0.88 Diluted EPS Computation Net income attributable to common shareholders $ 7,246 $ 8,936 $ 5,575 Weighted average common shares outstanding 8,151,492 7,586,993 6,329,316 Dilutive effect of stock options and restricted shares 87,809 104,500 149,636 Adjusted weighted average common shares outstanding 8,239,301 7,691,493 6,478,952 Diluted earnings per common share $ 0.88 $ 1.16 $ 0.86 |
Note 20 - Segment Reporting (Ta
Note 20 - Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2017 Retail Banking Residential Mortgage Banking Elimination Entries Consolidated Net interest income $ 33,761 $ 726 $ - $ 34,487 Provision for loan losses 1,316 - - 1,316 Noninterest income 2,333 3,805 (128 ) 6,010 Noninterest expense 25,524 5,552 - 31,076 Income tax expense (benefit) 2,008 (66 ) - 1,942 Net income (loss) 7,246 (955 ) (128 ) 6,163 Noncontrolling interest in net loss of subsidiary - 955 128 1,083 Net income attributable to common shareholders $ 7,246 $ - $ - $ 7,246 Year Ended December 31, 2016 Retail Banking Residential Mortgage Banking Elimination Entries Consolidated Net interest income $ 32,035 $ 617 $ - $ 32,652 Provision for loan losses 968 - - 968 Noninterest income 2,481 6,319 - 8,800 Noninterest expense 22,327 8,047 - 30,374 Income tax expense 2,285 (72 ) - 2,213 Net income 8,936 (1,039 ) - 7,897 Noncontrolling interest in net income of subsidiary - 1,039 - 1,039 Net income attributable to common shareholders $ 8,936 $ - $ - $ 8,936 Year Ended December 31, 2015 Retail Banking Residential Mortgage Banking Elimination Entries Consolidated Net interest income $ 25,931 $ 1,239 $ - $ 27,170 Provision for loan losses (270 ) - - (270 ) Noninterest income 1,383 10,999 - 12,382 Noninterest expense 19,590 11,979 - 31,569 Income tax expense 2,419 (148 ) - 2,271 Net income 5,575 407 - 5,982 Noncontrolling interest in net loss of subsidiary - (407 ) - (407 ) Net income attributable to common shareholders $ 5,575 $ - $ - $ 5,575 |
Note 21 - Business Combination
Note 21 - Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Calculation of Purchase Price Shares of Commerce Union common stock outstanding as of March 31, 2015 3,069,030 Estimated market price of Commerce Union common stock on April 1, 2015 $ 14.95 Estimated fair value of Commerce Union common stock 45,882 Estimated fair value of Commerce Union stock options 2,019 Total consideration $ 47,901 Allocation of Purchase Price Total consideration above $ 47,901 Fair value of assets acquired and liabilities assumed Cash and cash equivalents $ 12,378 Investment securities available for sale 29,487 Loans 248,122 Premises and equipment 5,807 Deferred tax asset, net 549 Bank owned life insurance 4,181 Core deposit intangible 1,901 Prepaid and other assets 4,229 Deposits (247,307 ) Securities sold under repurchase agreements (488 ) Other borrowings (20,856 ) Payables and other liabilities (733 ) Total fair value of net assets acquired 37,270 Goodwill $ 10,631 |
Business Acquisition, Pro Forma Information [Table Text Block] | Net interest income $ 30,355 Net income attributable to common shareholders 6,221 Earnings per share—basic 0.88 Earnings per share—diluted 0.85 |
Note 22 - Quarterly Financial52
Note 22 - Quarterly Financial Results (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | First Second Third Fourth Quarter Quarter Quarter Quarter Interest income $ 8,973 $ 9,704 $ 10,627 $ 10,854 Net interest income 7,971 8,503 9,096 8,917 Consolidated net income 1,559 1,794 1,840 970 Noncontrolling interest in net (income) loss of subsidiary 499 393 6 185 Net income attributable to common shareholders 2,058 2,187 1,846 1,155 Basic earnings per share 0.27 0.28 0.23 0.13 Diluted earnings per share 0.26 0.28 0.22 0.13 First Second Third Fourth Quarter Quarter Quarter Quarter Interest income $ 8,914 $ 9,497 $ 8,656 $ 8,948 Net interest income 8,082 8,692 7,835 8,043 Consolidated net income 2,558 2,137 1,763 1,439 Noncontrolling interest in net (income) loss of subsidiary (321 ) 223 605 532 Net income attributable to common shareholders 2,237 2,360 2,368 1,971 Basic earnings per share 0.30 0.31 0.31 0.26 Diluted earnings per share 0.30 0.31 0.30 0.25 First Second Third Fourth Quarter Quarter Quarter Quarter Interest income $ 4,473 $ 8,224 $ 8,483 $ 8,708 Net interest income 4,069 7,481 7,719 7,901 Consolidated net income 541 1,570 2,340 1,531 Noncontrolling interest in net (income) loss of subsidiary 71 32 (507 ) (3 ) Net income attributable to common shareholders 612 1,602 1,833 1,528 Basic earnings per share 0.16 0.23 0.26 0.21 Diluted earnings per share 0.15 0.22 0.25 0.21 |
Note 24 - Parent Company Cond53
Note 24 - Parent Company Condensed Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | CONDENSED BALANCE SHEET DECEMBER 31 2017 2016 ASSETS Cash and cash equivalents $ 1,709 $ 166 Due from bank - 1,711 Investment in subsidiary 137,765 105,874 Other assets 1,841 920 Total assets $ 141,315 $ 108,671 LIABILITIES AND EQUITY Dividend payable 542 1,711 Accrued expenses and other liabilities 636 41 Shareholders'equity 140,137 106,919 Total liabilities and shareholders' equity $ 141,315 $ 108,671 |
Condensed Income Statement [Table Text Block] | CONDENSED STATEMENT OF INCOME YEARS ENDED DECEMBER 31 2017 2016 2015 Dividends from subsidiary $ 2,141 $ 3,161 $ 3,139 Other expense 2,920 1,326 1,413 Income before income tax and undistributed income from subsidiary (779 ) 1,835 1,726 Income tax expense (benefit) (922 ) (508 ) (446 ) Equity in undistributed income from subsidiary 7,103 6,593 3,403 Net income attributable to common shareholders $ 7,246 $ 8,936 $ 5,575 |
Condensed Cash Flow Statement [Table Text Block] | CONDENSED STATEMENT OF CASH FLOWS YEARS ENDED DECEMBER 31 2017 2016 2015 Cash flows from operating activities Net income attributable to common shareholders $ 7,246 $ 8,936 $ 5,575 Reclassification of federal income tax rate change (245 ) - - Adjustments: Equity in undistributed income from subsidiary (7,103 ) (6,593 ) (3,403 ) Change in other assets 790 (219 ) (2,337 ) Change in other liabilities 595 (582 ) 336 Net cash from operating activities 1,283 1,542 171 Cash flows from investing activities Investment in subsidiary (21,195 ) (4,772 ) (1,895 ) Cash from merger - - 17 Net cash used in investing activities (21,195 ) (4,772 ) (1,878 ) Cash flows from financing activities Dividends paid (3,193 ) (1,489 ) - Proceeds from equity issuances, net 24,648 4,772 1,820 Net cash from financing activities 21,455 3,283 1,820 Net change in cash and cash equivalents 1,543 53 113 Beginning cash and cash equivalents 166 113 - Ending cash and cash equivalents $ 1,709 $ 166 $ 113 |
Note 25 - Subsequent Events (Ta
Note 25 - Subsequent Events (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Calculation of Purchase Price Shares of Commerce Union common stock outstanding as of March 31, 2015 3,069,030 Estimated market price of Commerce Union common stock on April 1, 2015 $ 14.95 Estimated fair value of Commerce Union common stock 45,882 Estimated fair value of Commerce Union stock options 2,019 Total consideration $ 47,901 Allocation of Purchase Price Total consideration above $ 47,901 Fair value of assets acquired and liabilities assumed Cash and cash equivalents $ 12,378 Investment securities available for sale 29,487 Loans 248,122 Premises and equipment 5,807 Deferred tax asset, net 549 Bank owned life insurance 4,181 Core deposit intangible 1,901 Prepaid and other assets 4,229 Deposits (247,307 ) Securities sold under repurchase agreements (488 ) Other borrowings (20,856 ) Payables and other liabilities (733 ) Total fair value of net assets acquired 37,270 Goodwill $ 10,631 |
Lessee, Operating Lease, Disclosure [Table Text Block] | Base Lease Term Base Lease With Renewal Escalation Property Description (In Tennesee unless noted) Expiration Date Periods Clause 1736 Carothers Parkway, Brentwood February 28, 2025 25 years 3% annually 6005 Nolensville Road, Nashville September 30, 2018 20 years none 5109 Peter Taylor Park Drive, Brentwood July 31, 2016 17 years 3% annually 101 Creekstone Boulevard, Franklin March 31, 2026 20 years 1% annually 711 East Main Street, Suite 105, Hendersonville October 31, 2017 5 years 2.5% annually 105 Continental Place, Brentwood December 31, 2020 4 years 3% annually 633 Chestnut St., Chattanooga February 28, 2018 2 months none 6100 Tower Circle, Franklin December 31, 2027 10 years 2.5% annually 1835 E. Northfield Blvd. Murfreesboro September 30, 2027 15 years 3% biannually then 3% annually 4108 Hillsboro Pike, Nashville November 30, 2021 27 years 10% after 5th year of initial term |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending December 31, 2018 $ 2,103 2019 2,094 2020 2,124 2021 1,775 2022 1,496 Thereafter 5,380 Total $ 14,972 |
Community First [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Calculation of Purchase Price Shares of Community First common stock outstanding as of December 31, 2017 5,025,884 Exchange ratio for Reliant Bancorp, Inc. common stock 0.481 Share conversion 2,417,450 Reliant Bancorp, Inc. common stock shares issued 2,416,444 Reliant Bancorp, Inc. share price at December 29, 2017 $ 25.64 Value of Reliant Bancorp, Inc. common stock shares issued $ 61,958 Value of fractional shares redeemed for cash 25 Estimated fair value of Community First $ 61,983 Allocation of Purchase Price Total consideration above $ 61,983 Fair value of assets acquired and liabilities assumed Cash and cash equivalents $ (33,128 ) Time deposits in other financial institutions (23,309 ) Investment securities available for sale (69,078 ) Loans, net of unearned income (313,040 ) Mortgage loans held for sale, net (910 ) Accrued interest receivable (1,165 ) Premises and equipment (9,585 ) Restricted equity securities (1,727 ) Cash surrender value of life insurance contracts (10,664 ) Other real estate owned (1,650 ) Deferred tax asset, net (4,885 ) Core deposit intangible (7,888 ) Other assets (1,888 ) Deposits—noninterest-bearing 80,395 Deposits—interest-bearing 352,100 Other borrowings 11,522 Payables and other liabilities 4,978 Net liabilities assumed (net assets acquired) $ (29,922 ) Goodwill $ 32,061 |
2018 Leases [Member] | |
Notes Tables | |
Lessee, Operating Lease, Disclosure [Table Text Block] | Base Lease Term Lease Base Lease With Renewal Escalation Property Description Commencement Date Expiration Date Periods (in years) Clause 101 Creekstone Blvd., Franklin, TN April 1, 2018 January 31, 2022 4 3% annually 633 Chestnut St., Chattanooga, TN November 1, 2018 10 4th year - 2% annually thereafter 633 Chestnut St., Chattanooga, TN March 1, 2018 October 31, 2018 8 months None |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending December 31, 2018 $ 57 2019 179 2020 180 2021 181 2022 170 Thereafter 1,050 Total $ 1,817 |
Note 1 - Summary of Significa55
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Federal Funds Sold | $ 171 | $ 830 | $ 171 | $ 830 | |||||||||||
Valuation Allowance Attributable to Mortgage Loans Held for Sale | 0 | 160 | |||||||||||||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount | $ (184) | $ (478) | |||||||||||||
Share Based Compensation, Effect on Diluted Earnings Per Share | $ 0.02 | $ 0.06 | |||||||||||||
Reserve Requirement Federal Reserve Bank | $ 2,636 | $ 0 | $ 10,310 | $ 2,636 | $ 0 | 10,310 | |||||||||
Advertising Expense | 264 | 684 | 1,117 | ||||||||||||
Income Tax Expense (Benefit) | $ 1,942 | $ 2,213 | $ 2,271 | ||||||||||||
Earnings Per Share, Diluted | $ 0.13 | $ 0.22 | $ 0.28 | $ 0.26 | $ 0.25 | $ 0.30 | $ 0.31 | $ 0.30 | $ 0.21 | $ 0.25 | $ 0.22 | $ 0.15 | $ 0.88 | $ 1.16 | $ 0.86 |
Reclassification From AOCI to Retained Earnings Due to Changes in Income Tax Rate | |||||||||||||||
AOCI Attributable to Parent [Member] | |||||||||||||||
Reclassification From AOCI to Retained Earnings Due to Changes in Income Tax Rate | 245 | ||||||||||||||
Retained Earnings [Member] | |||||||||||||||
Reclassification From AOCI to Retained Earnings Due to Changes in Income Tax Rate | (245) | ||||||||||||||
Accounting Standards Update 2016-09 [Member] | |||||||||||||||
Income Tax Expense (Benefit) | $ (478) | ||||||||||||||
Earnings Per Share, Diluted | $ (0.06) | ||||||||||||||
Accounting Standards Update 2018-02 [Member] | AOCI Attributable to Parent [Member] | |||||||||||||||
Reclassification From AOCI to Retained Earnings Due to Changes in Income Tax Rate | 245 | ||||||||||||||
Accounting Standards Update 2018-02 [Member] | Retained Earnings [Member] | |||||||||||||||
Reclassification From AOCI to Retained Earnings Due to Changes in Income Tax Rate | $ (245) | ||||||||||||||
401K Plan [Member] | |||||||||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | ||||||||||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | ||||||||||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | ||||||||||||||
Defined Contribution Plan, Additional Employer Matching Contribution, Percent of Match | 50.00% | ||||||||||||||
Defined Contribution Plan, Additional Employer Matching Contribution Percent | 2.00% | ||||||||||||||
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 100.00% | ||||||||||||||
Building [Member] | Minimum [Member] | |||||||||||||||
Property, Plant and Equipment, Useful Life | 30 years | ||||||||||||||
Building [Member] | Maximum [Member] | |||||||||||||||
Property, Plant and Equipment, Useful Life | 40 years | ||||||||||||||
Leasehold Improvements [Member] | Minimum [Member] | |||||||||||||||
Property, Plant and Equipment, Useful Life | 3 years | ||||||||||||||
Leasehold Improvements [Member] | Maximum [Member] | |||||||||||||||
Property, Plant and Equipment, Useful Life | 25 years | ||||||||||||||
Furniture and Fixtures [Member] | Minimum [Member] | |||||||||||||||
Property, Plant and Equipment, Useful Life | 3 years | ||||||||||||||
Furniture and Fixtures [Member] | Maximum [Member] | |||||||||||||||
Property, Plant and Equipment, Useful Life | 7 years | ||||||||||||||
Reliant Mortgage Ventures, LLC [Member] | |||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 51.00% | 51.00% |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) $ in Thousands | Jan. 16, 2015USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Held-to-maturity Securities | $ 0 | $ 0 | ||
Proceeds from Sale and Maturity of Held-to-maturity Securities | $ 20,806 | |||
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | $ 396 | |||
Number of Securities in Unrealized Loss Position | 120 | 193 | ||
Trading Securities, Realized Gain | $ 97 | $ 359 | $ 75 | |
Trading Securities, Realized Loss | 38 | 323 | $ 463 | |
Pledged Financial Instruments, Not Separately Reported, Securities | $ 78,220 | $ 36,292 | ||
Number of Securities of Single Issuer with Book Value Greater than Ten Percent of Stockholders' Equity | 0 | 0 |
Note 2 - Securities - Available
Note 2 - Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Amortized Cost | $ 218,177 | $ 150,169 |
Gross Unrealized Gains | 3,134 | 469 |
Gross Unrealized Losses | (1,110) | (3,825) |
Estimated Fair Value | 220,201 | 146,813 |
US Treasury and Government [Member] | ||
Amortized Cost | 17,339 | 1,909 |
Gross Unrealized Gains | 45 | 4 |
Gross Unrealized Losses | (96) | (5) |
Estimated Fair Value | 17,288 | 1,908 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized Cost | 189,576 | 122,813 |
Gross Unrealized Gains | 3,081 | 446 |
Gross Unrealized Losses | (905) | (3,625) |
Estimated Fair Value | 191,752 | 119,634 |
Corporate Debt Securities [Member] | ||
Amortized Cost | 1,500 | 2,000 |
Gross Unrealized Gains | 5 | 8 |
Gross Unrealized Losses | (13) | (21) |
Estimated Fair Value | 1,492 | 1,987 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized Cost | 6,262 | 20,197 |
Gross Unrealized Gains | 3 | 11 |
Gross Unrealized Losses | (96) | (174) |
Estimated Fair Value | 6,169 | 20,034 |
Time Deposits [Member] | ||
Amortized Cost | 3,500 | 3,250 |
Gross Unrealized Gains | ||
Gross Unrealized Losses | ||
Estimated Fair Value | $ 3,500 | $ 3,250 |
Note 2 - Securities - Availab58
Note 2 - Securities - Available-for-sale Securities Classified by Contractual Maturity Date (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Due within one year, amortized cost | $ 5,004 |
Due within one year, fair value | 5,011 |
Due in one to five years, amortized cost | 13,659 |
Due in one to five years, fair value | 13,641 |
Due in five to ten years, amortized cost | 11,246 |
Due in five to ten years, fair value | 11,347 |
Due after ten years, amortized cost | 182,006 |
Due after ten years, fair value | 184,033 |
Total | 218,177 |
Total | 220,201 |
Collateralized Mortgage Backed Securities [Member] | |
Mortgage backed securities, amortized cost | 6,262 |
Mortgage backed securities, fair value | $ 6,169 |
Note 2 - Securities - Schedule
Note 2 - Securities - Schedule of Temporary Impairment Losses, Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Less than 12 months Estimated Fair Value | $ 31,368 | $ 102,480 |
Less than 12 months Unrealized Loss | 216 | 3,735 |
12 months or more Estimated Fair Value | 40,127 | 3,353 |
12 months or more Unrealized Loss | 894 | 90 |
Total Estimated Fair Value | 71,495 | 105,833 |
Total Unrealized Loss | 1,110 | 3,825 |
US Treasury and Government [Member] | ||
Less than 12 months Estimated Fair Value | 9,057 | 748 |
Less than 12 months Unrealized Loss | 74 | 5 |
12 months or more Estimated Fair Value | 1,345 | |
12 months or more Unrealized Loss | 22 | |
Total Estimated Fair Value | 10,402 | 748 |
Total Unrealized Loss | 96 | 5 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months Estimated Fair Value | 19,899 | 83,637 |
Less than 12 months Unrealized Loss | 128 | 3,597 |
12 months or more Estimated Fair Value | 34,946 | 1,115 |
12 months or more Unrealized Loss | 777 | 28 |
Total Estimated Fair Value | 54,845 | 84,752 |
Total Unrealized Loss | 905 | 3,625 |
Corporate Debt Securities [Member] | ||
Less than 12 months Estimated Fair Value | 496 | |
Less than 12 months Unrealized Loss | 4 | |
12 months or more Estimated Fair Value | 487 | 983 |
12 months or more Unrealized Loss | 13 | 17 |
Total Estimated Fair Value | 487 | 1,479 |
Total Unrealized Loss | 13 | 21 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 months Estimated Fair Value | 2,412 | 17,599 |
Less than 12 months Unrealized Loss | 14 | 129 |
12 months or more Estimated Fair Value | 3,349 | 1,255 |
12 months or more Unrealized Loss | 82 | 45 |
Total Estimated Fair Value | 5,761 | 18,854 |
Total Unrealized Loss | $ 96 | $ 174 |
Note 3 - Loans and Allowance 60
Note 3 - Loans and Allowance for Loan Losses (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Discount on Loans Purchased | $ 272 | $ 1,210 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 5,161 | 5,634 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 703 | 848 | $ 853 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 0 | 0 | |
Financing Receivable, Modifications, Number of Contracts | 2 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | $ 0 | $ 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 |
Payment of Certain Loans Acquired in Transfer Accounted for as Debt Securities, Nonaccretable Purchase Discounts, Net | $ 354 | $ 708 | |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | (2) | (241) | $ 247 |
Financing Receivable, Allowance for Credit Losses, Write-downs | $ 1,071 | $ 145 | 41 |
Executive Officers, Directors, and Affiliates [Member] | |||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | $ 0 | $ 0 | $ 0 |
Partial Charge-off and Payment Restructure [Member] | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 470 | ||
Financing Receivable, Modifications, Recorded Investment | 308 | ||
Payment Deferral [Member] | |||
Financing Receivable, Modifications, Recorded Investment | 108 | ||
Performing Financial Instruments [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 1,096 | 2,799 | |
One to Four Family Residential [Member] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | |||
Loans and Leases Receivable, Percentage Secured by Owner Occupied Properties | 39.00% | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 636 | ||
Financing Receivable, Allowance for Credit Losses, Write-downs | |||
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | Minimum [Member] | |||
Percentage of Loans in Repayment | 50.00% | ||
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 533 | 344 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | $ 14 | 25 | |
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | Minimum [Member] | |||
Loan Facility, Amortization Period | 15 years | ||
Loans Commitment, Maturity Period | 5 years | ||
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | Maximum [Member] | |||
Loan Facility, Amortization Period | 30 years | ||
Loans Commitment, Maturity Period | 15 years | ||
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | $ 36 | $ 35 | |
Consumer Portfolio Segment [Member] | Minimum [Member] | |||
Loans and Leases Receivable, Repayment Period | 1 year | ||
Consumer Portfolio Segment [Member] | Maximum [Member] | |||
Loans and Leases Receivable, Repayment Period | 5 years |
Note 3 - Loans and Allowance 61
Note 3 - Loans and Allowance for Loan Losses - Schedule of Loans and Financial Receivables (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans | $ 772,450 | $ 667,408 | ||
Deferred loan fees | 231 | 625 | ||
Allowance for possible loan losses | 9,731 | 9,082 | $ 7,823 | $ 7,353 |
Loans, net | 762,488 | 657,701 | ||
Commercial, Industrial and Agricultural Portfolio Segment [Member] | ||||
Loans | 138,706 | 134,404 | ||
Allowance for possible loan losses | 2,538 | 2,432 | 2,198 | 2,184 |
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | ||||
Loans | 111,932 | 113,031 | ||
Allowance for possible loan losses | 773 | 1,178 | 1,214 | 642 |
Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | ||||
Loans | 72,017 | 57,460 | ||
Allowance for possible loan losses | 595 | 704 | 699 | 854 |
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | ||||
Loans | 261,044 | 215,639 | ||
Allowance for possible loan losses | 3,166 | 2,737 | 2,591 | 2,070 |
Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||||
Loans | 156,452 | 115,889 | ||
Allowance for possible loan losses | 2,434 | 1,786 | 894 | 742 |
Consumer Portfolio Segment [Member] | ||||
Loans | 17,605 | 17,240 | ||
Allowance for possible loan losses | 183 | 208 | 192 | 181 |
Other Portfolio Segment [Member] | ||||
Loans | 14,694 | 13,745 | ||
Allowance for possible loan losses | $ 42 | $ 37 | $ 35 | $ 2 |
Note 3 - Loans and Allowance 62
Note 3 - Loans and Allowance for Loan Losses - Schedule of Allowances for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning balance | $ 9,082 | $ 7,823 | $ 7,353 |
Charge-offs | (1,071) | (145) | (41) |
Recoveries | 404 | 436 | 781 |
Provision for loan losses | 1,316 | 968 | (270) |
Ending balance | 9,731 | 9,082 | 7,823 |
Commercial, Industrial and Agricultural Portfolio Segment [Member] | |||
Beginning balance | 2,432 | 2,198 | 2,184 |
Charge-offs | (976) | (84) | |
Recoveries | 378 | 323 | 346 |
Provision for loan losses | 704 | (5) | (332) |
Ending balance | 2,538 | 2,432 | 2,198 |
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | |||
Beginning balance | 2,737 | 2,591 | 2,070 |
Charge-offs | |||
Recoveries | 18 | 388 | |
Provision for loan losses | 429 | 128 | 133 |
Ending balance | 3,166 | 2,737 | 2,591 |
Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | |||
Beginning balance | 1,786 | 894 | 742 |
Charge-offs | (45) | ||
Recoveries | 5 | 6 | 7 |
Provision for loan losses | 688 | 886 | 145 |
Ending balance | 2,434 | 1,786 | 894 |
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Beginning balance | 1,178 | 1,214 | 642 |
Charge-offs | (14) | (25) | |
Recoveries | 66 | 15 | |
Provision for loan losses | (391) | (77) | 557 |
Ending balance | 773 | 1,178 | 1,214 |
Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | |||
Beginning balance | 704 | 699 | 854 |
Charge-offs | (6) | ||
Recoveries | 19 | 11 | 25 |
Provision for loan losses | (128) | (6) | (174) |
Ending balance | 595 | 704 | 699 |
Consumer Portfolio Segment [Member] | |||
Beginning balance | 208 | 192 | 181 |
Charge-offs | (36) | (35) | |
Recoveries | 2 | 12 | |
Provision for loan losses | 9 | 4 | 46 |
Ending balance | 183 | 208 | 192 |
Other Portfolio Segment [Member] | |||
Beginning balance | 37 | 35 | 2 |
Charge-offs | (36) | ||
Recoveries | |||
Provision for loan losses | 5 | 38 | 33 |
Ending balance | $ 42 | 37 | 35 |
Unallocated Financing Receivables [Member] | |||
Beginning balance | 678 | ||
Charge-offs | |||
Recoveries | |||
Provision for loan losses | (678) | ||
Ending balance |
Note 3 - Loans and Allowance 63
Note 3 - Loans and Allowance for Loan Losses - Allowance for Loan Losses and Recorded Investment by Portfolio Segment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Individually evaluated for impairment | $ 663 | $ 853 | ||
Acquired with credit impairment | 4 | 6 | ||
Collectively evaluated for impairment | 9,064 | 8,223 | ||
Total | 9,731 | 9,082 | $ 7,823 | $ 7,353 |
Individually evaluated for impairment | 11,574 | 13,406 | ||
Acquired with credit impairment | 2,914 | 4,767 | ||
Collectively evaluated for impairment | 757,962 | 649,235 | ||
Total | 772,450 | 667,408 | ||
Commercial, Industrial and Agricultural Portfolio Segment [Member] | ||||
Individually evaluated for impairment | 606 | 747 | ||
Acquired with credit impairment | 2 | |||
Collectively evaluated for impairment | 1,930 | 1,685 | ||
Total | 2,538 | 2,432 | 2,198 | 2,184 |
Individually evaluated for impairment | 3,649 | 5,375 | ||
Acquired with credit impairment | 276 | 329 | ||
Collectively evaluated for impairment | 134,781 | 128,700 | ||
Total | 138,706 | 134,404 | ||
Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | ||||
Individually evaluated for impairment | 62 | |||
Acquired with credit impairment | ||||
Collectively evaluated for impairment | 595 | 642 | ||
Total | 595 | 704 | 699 | 854 |
Individually evaluated for impairment | 90 | 1,479 | ||
Acquired with credit impairment | 16 | |||
Collectively evaluated for impairment | 71,927 | 55,965 | ||
Total | 72,017 | 57,460 | ||
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | ||||
Individually evaluated for impairment | ||||
Acquired with credit impairment | 6 | |||
Collectively evaluated for impairment | 3,166 | 2,731 | ||
Total | 3,166 | 2,737 | 2,591 | 2,070 |
Individually evaluated for impairment | 1,921 | 2,036 | ||
Acquired with credit impairment | 1,157 | 2,852 | ||
Collectively evaluated for impairment | 257,966 | 210,751 | ||
Total | 261,044 | 215,639 | ||
Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||||
Individually evaluated for impairment | 57 | 17 | ||
Acquired with credit impairment | 2 | |||
Collectively evaluated for impairment | 2,375 | 1,769 | ||
Total | 2,434 | 1,786 | 894 | 742 |
Individually evaluated for impairment | 3,800 | 2,544 | ||
Acquired with credit impairment | 1,436 | 1,481 | ||
Collectively evaluated for impairment | 151,216 | 111,864 | ||
Total | 156,452 | 115,889 | ||
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | ||||
Individually evaluated for impairment | 27 | |||
Acquired with credit impairment | ||||
Collectively evaluated for impairment | 773 | 1,151 | ||
Total | 773 | 1,178 | 1,214 | 642 |
Individually evaluated for impairment | 2,114 | 1,972 | ||
Acquired with credit impairment | 45 | 89 | ||
Collectively evaluated for impairment | 109,773 | 110,970 | ||
Total | 111,932 | 113,031 | ||
Consumer Portfolio Segment [Member] | ||||
Individually evaluated for impairment | ||||
Acquired with credit impairment | ||||
Collectively evaluated for impairment | 183 | 208 | ||
Total | 183 | 208 | 192 | 181 |
Individually evaluated for impairment | ||||
Acquired with credit impairment | ||||
Collectively evaluated for impairment | 17,605 | 17,240 | ||
Total | 17,605 | 17,240 | ||
Other Portfolio Segment [Member] | ||||
Individually evaluated for impairment | ||||
Acquired with credit impairment | ||||
Collectively evaluated for impairment | 42 | 37 | ||
Total | 42 | 37 | $ 35 | $ 2 |
Individually evaluated for impairment | ||||
Acquired with credit impairment | ||||
Collectively evaluated for impairment | 14,694 | 13,745 | ||
Total | $ 14,694 | $ 13,745 |
Note 3 - Loans and Allowance 64
Note 3 - Loans and Allowance for Loan Losses - Summary of Non-accrual Loans by Class of Loan (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Non-accrual loans | $ 5,161 | $ 5,634 |
Commercial, Industrial and Agricultural Portfolio Segment [Member] | ||
Non-accrual loans | 2,110 | 3,062 |
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | ||
Non-accrual loans | 636 | |
Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Non-accrual loans | 2,518 | 730 |
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Non-accrual loans | 533 | 344 |
Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | ||
Non-accrual loans | $ 862 |
Note 3 - Loans and Allowance 65
Note 3 - Loans and Allowance for Loan Losses - Summary of Individually Impaired Loans by Class of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Unpaid Principal Balance | $ 16,089 | $ 20,670 | $ 18,962 |
Recorded Investment with no Allowance Recorded | 11,535 | 13,905 | 13,411 |
Recorded Investment with Allowance Recorded | 2,953 | 4,269 | 3,435 |
Total Recorded Investment | 14,488 | 18,174 | 16,846 |
Related Allowance | 667 | 859 | 949 |
Commercial, Industrial and Agricultural Portfolio Segment [Member] | |||
Unpaid Principal Balance | 4,398 | 6,383 | 4,047 |
Recorded Investment with no Allowance Recorded | 2,959 | 3,924 | 2,145 |
Recorded Investment with Allowance Recorded | 966 | 1,780 | 1,180 |
Total Recorded Investment | 3,925 | 5,704 | 3,325 |
Related Allowance | 608 | 747 | 485 |
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | |||
Unpaid Principal Balance | 3,427 | 5,666 | 6,958 |
Recorded Investment with no Allowance Recorded | 3,078 | 2,914 | 5,452 |
Recorded Investment with Allowance Recorded | 1,974 | 713 | |
Total Recorded Investment | 3,078 | 4,888 | 6,165 |
Related Allowance | 6 | 11 | |
Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | |||
Unpaid Principal Balance | 5,317 | 4,124 | 1,831 |
Recorded Investment with no Allowance Recorded | 3,249 | 3,854 | 1,496 |
Recorded Investment with Allowance Recorded | 1,987 | 171 | 224 |
Total Recorded Investment | 5,236 | 4,025 | 1,720 |
Related Allowance | 59 | 17 | 22 |
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Unpaid Principal Balance | 2,857 | 2,422 | 3,763 |
Recorded Investment with no Allowance Recorded | 2,159 | 2,035 | 3,009 |
Recorded Investment with Allowance Recorded | 27 | 372 | |
Total Recorded Investment | 2,159 | 2,062 | 3,381 |
Related Allowance | 27 | 241 | |
Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | |||
Unpaid Principal Balance | 90 | 2,075 | 2,363 |
Recorded Investment with no Allowance Recorded | 90 | 1,178 | 1,309 |
Recorded Investment with Allowance Recorded | 317 | 946 | |
Total Recorded Investment | 90 | 1,495 | 2,255 |
Related Allowance | $ 62 | $ 190 |
Note 3 - Loans and Allowance 66
Note 3 - Loans and Allowance for Loan Losses - Summary of Average Recorded Investment in Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Average Balance of Impaired Loans | $ 16,861 | $ 19,704 |
Commercial, Industrial and Agricultural Portfolio Segment [Member] | ||
Average Balance of Impaired Loans | 5,225 | 6,055 |
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | ||
Average Balance of Impaired Loans | 4,138 | 5,837 |
Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Average Balance of Impaired Loans | 4,502 | 3,243 |
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Average Balance of Impaired Loans | 2,212 | 2,715 |
Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | ||
Average Balance of Impaired Loans | $ 784 | $ 1,854 |
Note 3 - Loans and Allowance 67
Note 3 - Loans and Allowance for Loan Losses - Summary of Credit Quality Indicators by Class of Loan (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans | $ 772,450 | $ 667,408 |
Commercial, Industrial and Agricultural Portfolio Segment [Member] | ||
Loans | 138,706 | 134,404 |
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 111,932 | 113,031 |
Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | ||
Loans | 72,017 | 57,460 |
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | ||
Loans | 261,044 | 215,639 |
Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Loans | 156,452 | 115,889 |
Consumer Portfolio Segment [Member] | ||
Loans | 17,605 | 17,240 |
Other Portfolio Segment [Member] | ||
Loans | 14,694 | 13,745 |
Pass [Member] | ||
Loans | 757,494 | 650,039 |
Pass [Member] | Commercial, Industrial and Agricultural Portfolio Segment [Member] | ||
Loans | 135,833 | 129,880 |
Pass [Member] | Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 108,426 | 109,592 |
Pass [Member] | Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | ||
Loans | 71,927 | 55,981 |
Pass [Member] | Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | ||
Loans | 259,123 | 211,938 |
Pass [Member] | Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Loans | 149,886 | 111,663 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 17,605 | 17,240 |
Pass [Member] | Other Portfolio Segment [Member] | ||
Loans | 14,694 | 13,745 |
Special Mention [Member] | ||
Loans | 4,395 | 3,194 |
Special Mention [Member] | Commercial, Industrial and Agricultural Portfolio Segment [Member] | ||
Loans | 5 | |
Special Mention [Member] | Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 1,392 | 1,427 |
Special Mention [Member] | Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | ||
Loans | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | ||
Loans | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Loans | 2,998 | 1,767 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Other Portfolio Segment [Member] | ||
Loans | ||
Substandard [Member] | ||
Loans | 10,561 | 14,175 |
Substandard [Member] | Commercial, Industrial and Agricultural Portfolio Segment [Member] | ||
Loans | 2,868 | 4,524 |
Substandard [Member] | Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 2,114 | 2,012 |
Substandard [Member] | Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | ||
Loans | 90 | 1,479 |
Substandard [Member] | Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | ||
Loans | 1,921 | 3,701 |
Substandard [Member] | Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Loans | 3,568 | 2,459 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | ||
Substandard [Member] | Other Portfolio Segment [Member] | ||
Loans |
Note 3 - Loans and Allowance 68
Note 3 - Loans and Allowance for Loan Losses - Summary of Past Due (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Past Due | $ 6,229 | $ 3,442 |
Current | 766,221 | 663,966 |
Loans | 772,450 | 667,408 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 2,157 | 465 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 451 | 1,586 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 3,621 | 1,391 |
Commercial, Industrial and Agricultural Portfolio Segment [Member] | ||
Past Due | 1,555 | 2,168 |
Current | 137,151 | 132,236 |
Loans | 138,706 | 134,404 |
Commercial, Industrial and Agricultural Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 7 | 207 |
Commercial, Industrial and Agricultural Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 1,586 | |
Commercial, Industrial and Agricultural Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 1,548 | 375 |
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Past Due | 617 | 293 |
Current | 111,315 | 112,738 |
Loans | 111,932 | 113,031 |
Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | ||
Past Due | 7 | |
Current | 72,010 | 57,460 |
Loans | 72,017 | 57,460 |
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | ||
Past Due | 1,254 | |
Current | 259,790 | 215,639 |
Loans | 261,044 | 215,639 |
Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Past Due | 2,782 | 788 |
Current | 153,670 | 115,101 |
Loans | 156,452 | 115,889 |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | One to Four Family Residential [Member] | ||
Past Due | 617 | 7 |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | One to Four Family HELOC Loans [Member] | ||
Past Due | ||
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Multi-family and Commercial [Member] | ||
Past Due | 1,254 | |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction, Land Development and Farmland [Member] | ||
Past Due | 265 | 58 |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family Residential [Member] | ||
Past Due | ||
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family HELOC Loans [Member] | ||
Past Due | 7 | |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Multi-family and Commercial [Member] | ||
Past Due | ||
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction, Land Development and Farmland [Member] | ||
Past Due | 444 | |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One to Four Family Residential [Member] | ||
Past Due | 286 | |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One to Four Family HELOC Loans [Member] | ||
Past Due | ||
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Multi-family and Commercial [Member] | ||
Past Due | ||
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction, Land Development and Farmland [Member] | ||
Past Due | 2,073 | 730 |
Consumer Portfolio Segment [Member] | ||
Past Due | 14 | 193 |
Current | 17,591 | 17,047 |
Loans | 17,605 | 17,240 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 14 | 193 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | ||
Other Portfolio Segment [Member] | ||
Past Due | ||
Current | 14,694 | 13,745 |
Loans | 14,694 | 13,745 |
Other Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | ||
Other Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | ||
Other Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due |
Note 3 - Loans and Allowance 69
Note 3 - Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Number of contracts | 2 | ||
Construction, Land Development and Farmland [Member] | |||
Number of contracts | 2 | ||
Pre-modification outstanding recorded investments | $ 2,110 | ||
Post-modification outstanding recorded investments | $ 1,640 | ||
Commercial, Industrial and Agricultural Portfolio Segment [Member] | |||
Number of contracts | 2 | ||
Pre-modification outstanding recorded investments | $ 1,712 | ||
Post-modification outstanding recorded investments | $ 1,712 | ||
One to Four Family Residential [Member] | |||
Number of contracts | 1 | ||
Pre-modification outstanding recorded investments | $ 196 | ||
Post-modification outstanding recorded investments | $ 196 |
Note 3 - Loans and Allowance 70
Note 3 - Loans and Allowance for Loan Losses - Summary of Carrying Amount of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Total outstanding balance | $ 3,070 | $ 5,403 |
Less remaining purchase discount | 156 | 635 |
Allowance for loan losses | 4 | 6 |
Carrying amount, net of allowance | 2,910 | 4,762 |
Commercial, Industrial and Agricultural Portfolio Segment [Member] | ||
Total outstanding balance | 298 | 385 |
Residential Portfolio Segment [Member] | Multi-family and Commercial [Member] | ||
Total outstanding balance | 1,217 | 3,321 |
Residential Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Total outstanding balance | 1,508 | 1,569 |
Residential Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Total outstanding balance | 47 | 92 |
Residential Portfolio Segment [Member] | One to Four Family HELOC Loans [Member] | ||
Total outstanding balance | $ 36 |
Note 3 - Loans and Allowance 71
Note 3 - Loans and Allowance for Loan Losses - Activity Related to Accretable Portion of Loans Acquired (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ 87 | $ 233 | |
New loans acquired | 478 | ||
Accretion income | (87) | (146) | (97) |
Reclassification to nonaccretable | (148) | ||
Balance | $ 87 | $ 233 |
Note 3 - Loans and Allowance 72
Note 3 - Loans and Allowance for Loan Losses - Loans to Related Parties (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance - January 1 | $ 11,935 | $ 10,484 |
New loans during the year | 4,356 | 4,442 |
Repayments during the year | (7,710) | (2,991) |
Balance - December 31 | $ 8,581 | $ 11,935 |
Note 4 - Fair Values of Asset73
Note 4 - Fair Values of Assets and Liabilities - Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Non-recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | Derivative Financial Instruments, Liabilities [Member] | ||
Liabilities | $ 180 | $ 267 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | Derivative Financial Instruments, Liabilities [Member] | ||
Liabilities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | Derivative Financial Instruments, Liabilities [Member] | ||
Liabilities | 180 | 267 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | Derivative Financial Instruments, Liabilities [Member] | ||
Liabilities | ||
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | ||
Assets | 17,288 | 1,908 |
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets | 17,288 | 1,908 |
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Assets | 191,752 | 119,634 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets | 191,752 | 119,634 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Assets | 1,492 | 1,987 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets | 1,492 | 1,987 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Assets | 6,169 | 20,034 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets | 6,169 | 20,034 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | Time Deposits [Member] | ||
Assets | 3,500 | 3,250 |
Fair Value, Measurements, Recurring [Member] | Time Deposits [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets | 3,500 | 3,250 |
Fair Value, Measurements, Recurring [Member] | Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | Derivative Financial Instruments, Assets [Member] | Interest Rate Swap [Member] | ||
Assets | 155 | 195 |
Fair Value, Measurements, Recurring [Member] | Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Assets | ||
Fair Value, Measurements, Recurring [Member] | Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Assets | 155 | 195 |
Fair Value, Measurements, Recurring [Member] | Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Assets | ||
Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans | 2,286 | 3,410 |
Mortgage loans held for sale | 11,831 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
Mortgage loans held for sale | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Mortgage loans held for sale | 11,831 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | $ 2,286 | 3,410 |
Mortgage loans held for sale |
Note 4 - Fair Values of Asset74
Note 4 - Fair Values of Assets and Liabilities - Summary of Quantitative Information of Assets Measured at Fair Value on Nonrecurring Basis by Utilized Level 3 Inputs (Details) - Fair Value, Inputs, Level 3 [Member] | 12 Months Ended | |
Dec. 31, 2017 | ||
Impaired Loans [Member[ | ||
Valuation Techniques | Appraisal | [1] |
Significant Unobservable Inputs | Estimated costs to sell | |
Range (Weighted Average) | 10.00% | |
Mortgage Loans Held-for-Sale [Member] | ||
Valuation Techniques | Pricing Model | [1] |
Significant Unobservable Inputs | Not applicable | |
[1] | The fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow method if the loan is not collateral dependent. Estimated cash flows change and appraised values of the assets or collateral underlying the loans will be sensitive to changes |
Note 4 - Fair Values of Asset75
Note 4 - Fair Values of Assets and Liabilities - Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Reported Value Measurement [Member] | ||
Cash and due from banks | $ 20,497 | $ 23,413 |
Federal funds sold | 171 | 830 |
Loans, net | 762,488 | 657,701 |
Mortgage loans held for sale | 45,322 | |
Accrued interest receivable | 5,744 | 3,786 |
Restricted equity securities | 7,774 | 7,133 |
Deposits | 883,519 | 763,834 |
Accrued interest payable | 305 | 107 |
Federal Home Loan Bank advances | 96,747 | 32,287 |
Federal funds purchased | 3,671 | |
Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 20,497 | 23,413 |
Federal funds sold | 171 | 830 |
Loans, net | 762,574 | 658,130 |
Mortgage loans held for sale | 46,467 | |
Accrued interest receivable | 5,744 | 3,786 |
Restricted equity securities | 7,774 | 7,133 |
Deposits | 882,533 | 763,174 |
Accrued interest payable | 305 | 107 |
Federal Home Loan Bank advances | 96,754 | 32,444 |
Federal funds purchased | 3,671 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 20,497 | 23,413 |
Federal funds sold | ||
Loans, net | ||
Mortgage loans held for sale | ||
Accrued interest receivable | ||
Restricted equity securities | ||
Deposits | ||
Accrued interest payable | ||
Federal Home Loan Bank advances | ||
Federal funds purchased | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | ||
Federal funds sold | 171 | 830 |
Loans, net | ||
Mortgage loans held for sale | 46,467 | |
Accrued interest receivable | 5,744 | 3,786 |
Restricted equity securities | 7,774 | 7,133 |
Deposits | ||
Accrued interest payable | 305 | 107 |
Federal Home Loan Bank advances | 96,754 | 32,444 |
Federal funds purchased | 3,671 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | ||
Federal funds sold | ||
Loans, net | 762,574 | 658,130 |
Mortgage loans held for sale | ||
Accrued interest receivable | ||
Restricted equity securities | ||
Deposits | 882,533 | 763,174 |
Accrued interest payable | ||
Federal Home Loan Bank advances | ||
Federal funds purchased |
Note 5 - Premises and Equipme76
Note 5 - Premises and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation | $ 1,017 | $ 976 | $ 890 |
Note 5 - Premises and Equipme77
Note 5 - Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Premises and equipment, gross | $ 19,084 | $ 17,440 |
Less: accumulated depreciation | (9,294) | (8,347) |
Premises and equipment, net | 9,790 | 9,093 |
Land [Member] | ||
Premises and equipment, gross | 1,211 | 1,211 |
Building [Member] | ||
Premises and equipment, gross | 4,717 | 4,717 |
Construction in Progress [Member] | ||
Premises and equipment, gross | 284 | 368 |
Leasehold Improvements [Member] | ||
Premises and equipment, gross | 4,727 | 3,828 |
Furniture, Fixtures, and Equipment [Member] | ||
Premises and equipment, gross | $ 8,145 | $ 7,316 |
Note 6 - Restricted Equity Se78
Note 6 - Restricted Equity Securities - Summary of Restricted Equity Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Federal Reserve Bank | $ 3,546 | $ 2,906 |
Federal Home Loan Bank | 4,228 | 4,227 |
Total | $ 7,774 | $ 7,133 |
Note 7 - Goodwill and Core De79
Note 7 - Goodwill and Core Deposit Intangible (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Amortization of Intangible Assets | $ 302 | $ 356 | $ 300 |
Note 7 - Goodwill and Core De80
Note 7 - Goodwill and Core Deposit Intangible - Intangible Assets Acquired in Business Acquisitions (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Goodwill | $ 11,404 | $ 11,404 | $ 11,404 |
Amortized intangible assets: | |||
Core deposit intangibles | 2,946 | 2,946 | 2,946 |
Less accumulated amortization | (1,666) | (1,364) | (1,008) |
Total | $ 1,280 | $ 1,582 | $ 1,938 |
Note 7 - Goodwill and Core De81
Note 7 - Goodwill and Core Deposit Intangible - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
2,018 | $ 226 | ||
2,019 | 226 | ||
2,020 | 226 | ||
2,021 | 226 | ||
2,022 | 226 | ||
Thereafter | 150 | ||
Total | $ 1,280 | $ 1,582 | $ 1,938 |
Note 8 - Deposits (Details Text
Note 8 - Deposits (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deposit Liabilities Reclassified as Loans Receivable | $ 118 | $ 154 |
Time Deposits, at or Above FDIC Insurance Limit | 264,814 | 221,136 |
Related Party Deposit Liabilities | $ 14,280 | $ 14,151 |
Note 8 - Deposits - Contractual
Note 8 - Deposits - Contractual Maturities of Time Deposit Accounts (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
2,018 | $ 376,446 | |
2,019 | 59,516 | |
2,020 | 13,815 | |
2,021 | 5,113 | |
2,022 | 3,173 | |
Time deposits, total | $ 458,063 | $ 359,776 |
Note 9 - Federal Home Loan Ba84
Note 9 - Federal Home Loan Bank Advances (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 380,111 | $ 332,419 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 5,924 | $ 30,484 |
Weighted Average [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.54% | 1.29% |
Federal Home Loan Bank Advances, Branch of FHLB Bank Interest Rate, Short Term Borrowings | 1.43% | 0.65% |
Note 9 - Federal Home Loan Ba85
Note 9 - Federal Home Loan Bank Advances - Summary of Advances from FHLB (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Maturities January 2018 through March 2024, fixed rates ranging from 1.22% to 2.99% | $ 96,747 | $ 32,287 |
Note 9 - Federal Home Loan Ba86
Note 9 - Federal Home Loan Bank Advances - Summary of Advances from FHLB (Details) (Parentheticals) | Dec. 31, 2017 | Dec. 31, 2016 |
Minimum [Member] | ||
Fixed rate on advances from FHLB | 1.22% | 1.22% |
Maximum [Member] | ||
Fixed rate on advances from FHLB | 2.99% | 2.99% |
Note 9 - Federal Home Loan Ba87
Note 9 - Federal Home Loan Bank Advances - Future Principle Payments on Federal Home Loan Bank Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
2,018 | $ 92,398 | |
2,019 | 708 | |
2,020 | 721 | |
2,021 | 963 | |
2,022 | 612 | |
Thereafter | 1,345 | |
FHLB principal payments, total | $ 96,747 | $ 32,287 |
Note 10 - Benefit Plans (Detail
Note 10 - Benefit Plans (Details Textual) - 401K Plan [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | ||
Defined Contribution Plan, Additional Employer Matching Contribution, Percent of Match | 50.00% | ||
Defined Contribution Plan, Additional Employer Matching Contribution Percent | 2.00% | ||
Defined Contribution Plan, Cost | $ 450 | $ 467 | $ 416 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% | 34.00% | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 610 | |||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 159 | |||
Deferred Tax Assets, Increase (Decrease) From Unrealized Gains (Losses) on Securities | (1,840) | $ 1,289 | 132 | |
Income Tax Expense (Benefit) | 1,942 | 2,213 | 2,271 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Income Tax Expense (Benefit) | $ 15 | $ 14 | $ (149) | |
Scenario, Forecast [Member] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 11 - Income Taxes - Income
Note 11 - Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income tax expense | |||
Current | $ 1,438 | $ 1,978 | $ 2,474 |
Deferred income taxes (benefit) | 504 | 235 | (203) |
Total provision for income tax expense | $ 1,942 | $ 2,213 | $ 2,271 |
Note 11 - Income Taxes - Reconc
Note 11 - Income Taxes - Reconciliation of the Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Computed “expected” tax expense, amount | $ 2,756 | $ 3,437 | $ 2,806 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% | 34.00% |
Increase (decrease) in tax expense resulting from: | |||
Federal income tax rate change | $ 620 | ||
Federal income tax rate change, rate | 8.00% | 0.00% | 0.00% |
State tax expense, net of federal tax effect, amount | $ 331 | $ 404 | $ 348 |
State tax expense, net of federal tax effect | 4.00% | 4.00% | 4.00% |
Tax exempt interest, amount | $ (1,452) | $ (923) | $ (569) |
Tax exempt interest, rate | (18.00%) | (9.00%) | (7.00%) |
Disallowed interest expense, amount | $ 193 | $ 56 | $ 53 |
Disallowed interest expense, rate | 2.00% | 1.00% | 1.00% |
Incentive stock options, amount | $ 33 | $ 22 | $ 23 |
Incentive stock options, rate | 0.00% | 0.00% | 0.00% |
Cash surrender value of life insurance contracts, amount | $ (285) | $ (255) | $ (184) |
Cash surrender value of life insurance contracts, rate | (4.00%) | (3.00%) | (2.00%) |
Officers life insurance expense, amount | $ 7 | $ 2 | |
Officers life insurance expense, rate | 0.00% | 0.00% | 0.00% |
Excess tax benefit from stock compensation, amount | $ (184) | $ (478) | |
Excess tax benefit from stock compensation, rate | (2.00%) | (5.00%) | 0.00% |
Nondeductible merger expenses, amount | $ 173 | $ 143 | |
Nondeductible merger expenses, rate | 2.00% | 0.00% | 2.00% |
Federal and state tax credits, amount | $ (667) | $ (499) | $ (123) |
Federal and state tax credits, rate | (8.00%) | (5.00%) | (1.00%) |
Benefit of subsidiary net loss, amount | $ (159) | ||
Benefit of subsidiary net loss, rate | 0.00% | 0.00% | (2.00%) |
Subsidiary disregarded for federal taxes, amount | $ (347) | $ (378) | $ 88 |
Subsidiary disregarded for federal taxes, rate | 4.00% | 4.00% | (1.00%) |
Others as a group | $ 77 | $ 64 | $ 19 |
Others as a group, rate | 1.00% | 1.00% | 0.00% |
Total provision for income tax expense | $ 1,942 | $ 2,213 | $ 2,271 |
Total income tax expense, rate | 23.00% | 22.00% | 28.00% |
Note 11 - Income Taxes - Signif
Note 11 - Income Taxes - Significant Components of Deferred Taxes (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Organizational and start-up costs | $ 98 | $ 188 | $ 231 |
Core deposit intangible | (215) | (403) | (513) |
Goodwill | (84) | (109) | (94) |
Acquisition fair value adjustments | 30 | 344 | 1,206 |
Allowance for loan losses | 1,876 | 2,083 | 1,286 |
Loan fees | 60 | 240 | 355 |
Other real estate | 19 | 70 | |
Premises and equipment | (427) | (691) | (645) |
Unrealized (gain) loss on available for sale securities | (528) | ||
Unrealized (gain) loss on available for sale securities | 1,312 | 23 | |
Non-accrual loans | 170 | 264 | 228 |
Other | 119 | 190 | 236 |
Deferred tax assets, net | 1,099 | 3,437 | 2,383 |
State | 114 | 418 | 326 |
Federal | $ 985 | $ 3,019 | $ 2,057 |
Note 12 - Stock-based Compens93
Note 12 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Mar. 10, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Jun. 18, 2015 | Dec. 31, 2006 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Forfeiture Rate | 3.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 6.46 | $ 3.82 | |||
Market Value of Shares Issued | $ 23.65 | $ 15.24 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 1,118 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 328 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 368 | ||||
Minimum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||
Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||
The Plan [Member] | Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,250,000 | 625,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||
Equity Incentive Plan 2015 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 900,000 |
Note 12 - Stock-based Compens94
Note 12 - Stock-based Compensation - Stock Option Activity (Details) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($)$ / sharesshares | |
Outstanding shares (in shares) | shares | 241,541 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 12.96 |
Granted shares (in shares) | shares | 15,500 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 23.55 |
Exercised shares (in shares) | shares | (72,080) |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 11.42 |
Forfeited or expired shares (in shares) | shares | (14,200) |
Forfeited or expired, weighted average exercise price (in dollars per share) | $ / shares | $ 14.06 |
Outstanding shares (in shares) | shares | 170,761 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 14.48 |
Outstanding, weighted average remaining contractual term (Year) | 5 years 266 days |
Outstanding, aggregate intrinsic value | $ | $ 1,905 |
Exercisable shares (in shares) | shares | 95,861 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 13 |
Exercisable, weighted average remaining contractual term (Year) | 3 years 273 days |
Exercisable, aggregate intrinsic value | $ | $ 1,212 |
Vested and anticipated vesting shares (in shares) | shares | 168,514 |
Vested and anticipated vesting, weighted average exercise price (in dollars per share) | $ / shares | $ 14.45 |
Vested and anticipated vesting, weighted average remaining contractual term (Year) | 5 years 266 days |
Vested and anticipated vesting, aggregate intrinsic value | $ | $ 1,848 |
Note 12 - Stock-based Compens95
Note 12 - Stock-based Compensation - Nonvested Stock Option Activity (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Non-vested options (in shares) | 96,600 | |
Non-vested options, weighted average grant-date fair value (in dollars per share) | $ 3.36 | |
Granted (in shares) | 15,500 | |
Granted, weighted average grant-date fair value (in dollars per share) | $ 6.46 | $ 3.82 |
Vested (in shares) | (23,000) | |
Vested, weighted average grant-date fair value (in dollars per share) | $ 6.95 | |
Forfeited (in shares) | (14,200) | |
Forfeited, weighted average grant-date fair value (in dollars per share) | $ 3.18 | |
Non-vested options (in shares) | 74,900 | 96,600 |
Non-vested options, weighted average grant-date fair value (in dollars per share) | $ 4.14 | $ 3.36 |
Note 12 - Stock-based Compens96
Note 12 - Stock-based Compensation - Stock Option Plan (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Intrinsic value of options exercised | $ 827 | $ 2,272 |
Cash received from option exercises | 823 | 4,772 |
Tax benefit realized from option exercises | $ 133 | $ 478 |
Note 12 - Stock-based Compens97
Note 12 - Stock-based Compensation - Weighted Average Fair Value Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Expected term (in years) (Year) | 6 years 182 days | |
Minimum [Member] | ||
Risk-free interest rate | 2.30% | 1.33% |
Expected term (in years) (Year) | 6 years 182 days | |
Expected stock price volatility | 24.00% | 21.00% |
Dividend yield | 0.98% | 1.02% |
Maximum [Member] | ||
Risk-free interest rate | 2.45% | 2.45% |
Expected term (in years) (Year) | 10 years | |
Expected stock price volatility | 29.90% | 24.00% |
Dividend yield | 1.02% | 1.57% |
Note 12 - Stock-based Compens98
Note 12 - Stock-based Compensation - Activity Related to Restricted Stock (Details) - Restricted Stock [Member] - shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Non-vested shares (in shares) | 48,465 | 30,500 |
Granted (in shares) | 50,050 | 23,800 |
Vested (in shares) | (13,016) | (3,835) |
Forfeited (in shares) | (3,000) | (2,000) |
Non-vested shares (in shares) | 82,499 | 48,465 |
Note 13 - Regulatory Capital 99
Note 13 - Regulatory Capital Requirements (Details Textual) | Dec. 31, 2017 |
Capital Conservation Buffer | 2.50% |
Note 13 - Regulatory Capital100
Note 13 - Regulatory Capital Requirements - Summary of Bank's Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Tier I leverage | $ 126,234 | $ 96,682 |
Tier I leverage, ratio | 11.89% | 10.86% |
Tier I leverage, minimum required capital including capital conservation buffer | $ 42,467 | $ 35,610 |
Tier I leverage, minimum required capital including capital conservation buffer, ratio | 4.00% | 4.00% |
Tier I leverage, to be well capitalized under prompt corrective action provisions | $ 53,084 | |
Tier I leverage, to be well capitalized under prompt corrective action provisions, ratio | 5.00% | |
Common equity tier 1 | $ 126,234 | $ 96,682 |
Common equity tier 1, ratio | 13.90% | 13.00% |
Common equity tier 1, minimum required capital including capital conservation buffer | $ 52,219 | $ 38,115 |
Common equity tier 1, minimum required capital including capital conservation buffer, ratio | 5.75% | 5.125% |
Common equity tier 1, to be well capitalized under prompt corrective action provisions | $ 59,030 | |
Common equity tier 1, to be well capitalized under prompt corrective action provisions, ratio | 6.50% | |
Tier I risk-based capital | $ 126,234 | $ 96,682 |
Tier I risk-based capital, ratio | 13.90% | 13.00% |
Tier I risk-based capital, minimum required capital including capital conservation buffer | $ 65,841 | $ 49,271 |
Tier I risk-based capital, minimum required capital including capital conservation buffer, ratio | 7.25% | 6.625% |
Tier I risk-based capital, to be well capitalized under prompt corrective action provisions | $ 72,653 | |
Tier I risk-based capital, to be well capitalized under prompt corrective action provisions, ratio | 8.00% | |
Total risk-based capital | $ 135,965 | $ 105,764 |
Total risk-based capital, ratio | 14.97% | 14.22% |
Total risk-based capital, minimum required capital including capital conservation buffer | $ 84,013 | $ 64,150 |
Total risk-based capital, minimum required capital including capital conservation buffer, ratio | 9.25% | 8.625% |
Total risk-based capital, to be well capitalized under prompt corrective action provisions | $ 90,825 | |
Total risk-based capital, to be well capitalized under prompt corrective action provisions, ratio | 10.00% | |
Reliant Bank [Member] | ||
Tier I leverage | $ 123,862 | $ 95,637 |
Tier I leverage, ratio | 11.68% | 10.75% |
Tier I leverage, minimum required capital including capital conservation buffer | $ 42,418 | $ 35,586 |
Tier I leverage, minimum required capital including capital conservation buffer, ratio | 4.00% | 4.00% |
Tier I leverage, to be well capitalized under prompt corrective action provisions | $ 53,023 | $ 44,482 |
Tier I leverage, to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% |
Common equity tier 1 | $ 123,862 | $ 95,637 |
Common equity tier 1, ratio | 13.67% | 12.88% |
Common equity tier 1, minimum required capital including capital conservation buffer | $ 52,100 | $ 38,054 |
Common equity tier 1, minimum required capital including capital conservation buffer, ratio | 5.75% | 5.125% |
Common equity tier 1, to be well capitalized under prompt corrective action provisions | $ 58,896 | $ 48,264 |
Common equity tier 1, to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% |
Tier I risk-based capital | $ 123,862 | $ 95,637 |
Tier I risk-based capital, ratio | 13.67% | 12.88% |
Tier I risk-based capital, minimum required capital including capital conservation buffer | $ 65,691 | $ 49,192 |
Tier I risk-based capital, minimum required capital including capital conservation buffer, ratio | 7.25% | 6.625% |
Tier I risk-based capital, to be well capitalized under prompt corrective action provisions | $ 72,487 | $ 59,402 |
Tier I risk-based capital, to be well capitalized under prompt corrective action provisions, ratio | 8.00% | 8.00% |
Total risk-based capital | $ 133,593 | $ 104,719 |
Total risk-based capital, ratio | 14.74% | 14.10% |
Total risk-based capital, minimum required capital including capital conservation buffer | $ 83,835 | $ 64,057 |
Total risk-based capital, minimum required capital including capital conservation buffer, ratio | 9.25% | 8.625% |
Total risk-based capital, to be well capitalized under prompt corrective action provisions | $ 90,633 | $ 74,269 |
Total risk-based capital, to be well capitalized under prompt corrective action provisions, ratio | 10.00% | 10.00% |
Note 14 - Commitments and Co101
Note 14 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Federal Funds Purchased | $ 0 | $ 3,671 |
Federal Reserve Bank Discount Window Borrowings | 12,900 | |
Federal Reserve Bank Advances | 0 | 0 |
Municipal Deposits [Member] | ||
Restricted Investments | 208,829 | 162,190 |
Standby Letters of Credit [Member] | Federal Home Loan Bank Borrowings [Member] | ||
Long-term Line of Credit | 210,000 | 170,000 |
Federal Fund Lines of Credit [Member] | ||
Line of Credit Facility, Remaining Borrowing Capacity | 78,200 | |
Unsecured Line of Credit [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 20,000 | |
Long-term Line of Credit | $ 2,000 | $ 0 |
Note 15 - Leases (Details Textu
Note 15 - Leases (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Leases, Rent Expense | $ 2,055 | $ 1,954 | $ 2,094 |
Note 15 - Leases - Summary of C
Note 15 - Leases - Summary of Company's Leased Facilities (Details) | 12 Months Ended |
Dec. 31, 2017 | |
1736 Carothers Parkway, Brentwood [Member] | |
Base Lease Expiration Date | Feb. 28, 2025 |
Base Lease Term With Renewal Periods (Year) | 25 years |
Escalation Clause | 3.00% |
Escalation Clause | 3.00% |
6005 Nolensville Road, Nashville [Member] | |
Base Lease Expiration Date | Sep. 30, 2018 |
Base Lease Term With Renewal Periods (Year) | 20 years |
Escalation Clause | 0.00% |
Escalation Clause | 0.00% |
5109 Peter Taylor Park Drive, Brentwood [Member] | |
Base Lease Expiration Date | Jul. 31, 2016 |
Base Lease Term With Renewal Periods (Year) | 17 years |
Escalation Clause | 3.00% |
Escalation Clause | 3.00% |
101 Creekstone Boulevard, Franklin [Member] | |
Base Lease Expiration Date | Mar. 31, 2026 |
Base Lease Term With Renewal Periods (Year) | 20 years |
Escalation Clause | 1.00% |
Escalation Clause | 1.00% |
711 East Main Street, Suite 105, Hendersonville [Member] | |
Base Lease Expiration Date | Oct. 31, 2017 |
Base Lease Term With Renewal Periods (Year) | 5 years |
Escalation Clause | 2.50% |
Escalation Clause | 2.50% |
105 Continental Place, Brentwood [Member] | |
Base Lease Expiration Date | Dec. 31, 2020 |
Base Lease Term With Renewal Periods (Year) | 4 years |
Escalation Clause | 3.00% |
Escalation Clause | 3.00% |
633 Chestnut St., Chattanooga [Member] | |
Base Lease Expiration Date | Feb. 28, 2018 |
Base Lease Term With Renewal Periods (Year) | 60 days |
Escalation Clause | 0.00% |
Escalation Clause | 0.00% |
6100 Tower Circle, Franklin [Member] | |
Base Lease Expiration Date | Dec. 31, 2027 |
Base Lease Term With Renewal Periods (Year) | 10 years |
Escalation Clause | 2.50% |
Escalation Clause | 2.50% |
1835 E. Northfield Blvd. Murfreesboro [Member] | |
Base Lease Expiration Date | Sep. 30, 2027 |
Base Lease Term With Renewal Periods (Year) | 15 years |
Escalation Clause | 3.00% |
Escalation Clause | 3.00% |
4108 Hillsboro Pike, Nashville [Member] | |
Base Lease Expiration Date | Nov. 30, 2021 |
Base Lease Term With Renewal Periods (Year) | 27 years |
Escalation Clause | 10.00% |
Escalation Clause | 10.00% |
Note 15 - Leases - Future Minim
Note 15 - Leases - Future Minimum Rental Payments (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 2,103 |
2,019 | 2,094 |
2,020 | 2,124 |
2,021 | 1,775 |
2,022 | 1,496 |
Thereafter | 5,380 |
Total | $ 14,972 |
Note 16 - Related Party Tran105
Note 16 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Board of Directors [Member] | ||
Related Party Transaction, Expenses from Transactions with Related Party | $ 44 | $ 599 |
Note 17 - Financial Instrume106
Note 17 - Financial Instruments With Off-balance-sheet Risk - Contractual Amounts of Financial Instruments with Off-balance-sheet Risk (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financial instruments with off-balance-sheet risk | $ 198,764 | $ 171,236 |
Fixed [Member] | ||
Financial instruments with off-balance-sheet risk | 49,637 | 44,371 |
Variable [Member] | ||
Financial instruments with off-balance-sheet risk | 135,951 | 114,648 |
Standby Letters of Credit [Member] | ||
Financial instruments with off-balance-sheet risk | $ 13,176 | $ 12,217 |
Note 18 - Derivatives (Details
Note 18 - Derivatives (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative Instrument Amount | $ 11,200 | ||
Derivative, Notional Amount | $ 21,505 | $ 21,505 | $ 21,505 |
Other Derivative Assets, Fair Value Disclosure | 155 | 195 | |
Other Derivative Liabilities, Fair Value Disclosure | $ 180 | $ 267 |
Note 19 - Earnings Per Share -
Note 19 - Earnings Per Share - Summary of Components of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income attributable to common shareholders | $ 7,246 | $ 8,936 | $ 5,575 | ||||||||||||
Weighted average common shares outstanding (in shares) | 8,151,492 | 7,586,993 | 6,329,316 | ||||||||||||
Basic earnings per common share (in dollars per share) | $ 0.13 | $ 0.23 | $ 0.28 | $ 0.27 | $ 0.26 | $ 0.31 | $ 0.31 | $ 0.30 | $ 0.21 | $ 0.26 | $ 0.23 | $ 0.16 | $ 0.89 | $ 1.18 | $ 0.88 |
Net income attributable to common shareholders | $ 7,246 | $ 8,936 | $ 5,575 | ||||||||||||
Dilutive effect of stock options and restricted shares (in shares) | 87,809 | 104,500 | 149,636 | ||||||||||||
Adjusted weighted average common shares outstanding (in shares) | 8,239,301 | 7,691,493 | 6,478,952 | ||||||||||||
Diluted earnings per common share (in dollars per share) | $ 0.13 | $ 0.22 | $ 0.28 | $ 0.26 | $ 0.25 | $ 0.30 | $ 0.31 | $ 0.30 | $ 0.21 | $ 0.25 | $ 0.22 | $ 0.15 | $ 0.88 | $ 1.16 | $ 0.86 |
Note 20 - Segment Reporting (De
Note 20 - Segment Reporting (Details Textual) | 12 Months Ended |
Dec. 31, 2017 | |
Number of Reportable Segments | 2 |
Note 20 - Segment Reporting - S
Note 20 - Segment Reporting - Summary of Results of Operations for Company's Business Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net interest income | $ 8,917 | $ 9,096 | $ 8,503 | $ 7,971 | $ 8,043 | $ 7,835 | $ 8,692 | $ 8,082 | $ 7,901 | $ 7,719 | $ 7,481 | $ 4,069 | $ 34,487 | $ 32,652 | $ 27,170 |
Provision for loan losses | 1,316 | 968 | (270) | ||||||||||||
Noninterest income | 6,010 | 8,800 | 12,382 | ||||||||||||
Noninterest expense | 31,076 | 30,374 | 31,569 | ||||||||||||
Income tax expense (benefit) | 1,942 | 2,213 | 2,271 | ||||||||||||
Net income (loss) | 970 | 1,840 | 1,794 | 1,559 | 1,439 | 1,763 | 2,137 | 2,558 | 1,531 | 2,340 | 1,570 | 541 | 6,163 | 7,897 | 5,982 |
Noncontrolling interest in net loss of subsidiary | 185 | 6 | 393 | 499 | 532 | 605 | 223 | (321) | (3) | (507) | 32 | 71 | 1,083 | 1,039 | (407) |
Net income attributable to common shareholders | $ 1,155 | $ 1,846 | $ 2,187 | $ 2,058 | $ 1,971 | $ 2,368 | $ 2,360 | $ 2,237 | $ 1,528 | $ 1,833 | $ 1,602 | $ 612 | 7,246 | 8,936 | 5,575 |
Consolidation, Eliminations [Member] | |||||||||||||||
Net interest income | |||||||||||||||
Provision for loan losses | |||||||||||||||
Noninterest income | (128) | ||||||||||||||
Noninterest expense | |||||||||||||||
Income tax expense (benefit) | |||||||||||||||
Net income (loss) | (128) | ||||||||||||||
Noncontrolling interest in net loss of subsidiary | 128 | ||||||||||||||
Net income attributable to common shareholders | |||||||||||||||
Retail Banking [Member] | |||||||||||||||
Net interest income | 33,761 | 32,035 | 25,931 | ||||||||||||
Provision for loan losses | 1,316 | 968 | (270) | ||||||||||||
Noninterest income | 2,333 | 2,481 | 1,383 | ||||||||||||
Noninterest expense | 25,524 | 22,327 | 19,590 | ||||||||||||
Income tax expense (benefit) | 2,008 | 2,285 | 2,419 | ||||||||||||
Net income (loss) | 7,246 | 8,936 | 5,575 | ||||||||||||
Noncontrolling interest in net loss of subsidiary | |||||||||||||||
Net income attributable to common shareholders | 7,246 | 8,936 | 5,575 | ||||||||||||
Residential Mortgage Banking [Member] | |||||||||||||||
Net interest income | 726 | 617 | 1,239 | ||||||||||||
Provision for loan losses | |||||||||||||||
Noninterest income | 3,805 | 6,319 | 10,999 | ||||||||||||
Noninterest expense | 5,552 | 8,047 | 11,979 | ||||||||||||
Income tax expense (benefit) | (66) | (72) | (148) | ||||||||||||
Net income (loss) | (955) | (1,039) | 407 | ||||||||||||
Noncontrolling interest in net loss of subsidiary | 955 | 1,039 | (407) | ||||||||||||
Net income attributable to common shareholders |
Note 21 - Business Combinati111
Note 21 - Business Combination (Details Textual) $ in Thousands | Apr. 01, 2015 | Dec. 31, 2015USD ($) |
Sale of Stock, Percentage of Ownership after Transaction | 44.50% | |
Business Combination, Acquisition Related Costs | $ 849 | |
Reliant Bank [Member] | ||
Business Combination, Common Stock Conversion Ratio | 1.0213 | |
Sale of Stock, Percentage of Ownership after Transaction | 55.50% |
Note 21 - Business Combinati112
Note 21 - Business Combination - Financial Impact of Merger (Details) - USD ($) $ / shares in Units, $ in Thousands | Apr. 01, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Goodwill | $ 11,404 | $ 11,404 | $ 11,404 | |
Commerce Union [Member] | ||||
Shares of Commerce Union common stock outstanding as of March 31, 2015 (in shares) | 3,069,030 | |||
Estimated market price of Commerce Union common stock on April 1, 2015 (in dollars per share) | $ 14.95 | |||
Estimated fair value of Commerce Union common stock | $ 45,882 | |||
Estimated fair value of Commerce Union stock options | 2,019 | |||
Total consideration | 47,901 | |||
Total consideration above | 47,901 | |||
Cash and cash equivalents | 12,378 | |||
Investment securities available for sale | 29,487 | |||
Loans | 248,122 | |||
Premises and equipment | 5,807 | |||
Deferred tax asset, net | 549 | |||
Bank owned life insurance | 4,181 | |||
Core deposit intangible | 1,901 | |||
Prepaid and other assets | 4,229 | |||
Deposits | (247,307) | |||
Securities sold under repurchase agreements | (488) | |||
Other borrowings | (20,856) | |||
Payables and other liabilities | (733) | |||
Total fair value of net assets acquired | 37,270 | |||
Goodwill | $ 10,631 |
Note 21 - Business Combinati113
Note 21 - Business Combination - Pro Forma Data (Details) - Commerce Union [Member] $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($)$ / shares | |
Net interest income | $ | $ 30,355 |
Net income attributable to common shareholders | $ | $ 6,221 |
Earnings per share—basic (in dollars per share) | $ / shares | $ 0.88 |
Earnings per share—diluted (in dollars per share) | $ / shares | $ 0.85 |
Note 22 - Quarterly Financia114
Note 22 - Quarterly Financial Results (Unaudited) - Summary of Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest income | $ 10,854 | $ 10,627 | $ 9,704 | $ 8,973 | $ 8,948 | $ 8,656 | $ 9,497 | $ 8,914 | $ 8,708 | $ 8,483 | $ 8,224 | $ 4,473 | $ 40,158 | $ 36,015 | $ 29,888 |
Net interest income | 8,917 | 9,096 | 8,503 | 7,971 | 8,043 | 7,835 | 8,692 | 8,082 | 7,901 | 7,719 | 7,481 | 4,069 | 34,487 | 32,652 | 27,170 |
Consolidated net income | 970 | 1,840 | 1,794 | 1,559 | 1,439 | 1,763 | 2,137 | 2,558 | 1,531 | 2,340 | 1,570 | 541 | 6,163 | 7,897 | 5,982 |
Noncontrolling interest in net (income) loss of subsidiary | 185 | 6 | 393 | 499 | 532 | 605 | 223 | (321) | (3) | (507) | 32 | 71 | 1,083 | 1,039 | (407) |
Net income attributable to common shareholders | $ 1,155 | $ 1,846 | $ 2,187 | $ 2,058 | $ 1,971 | $ 2,368 | $ 2,360 | $ 2,237 | $ 1,528 | $ 1,833 | $ 1,602 | $ 612 | $ 7,246 | $ 8,936 | $ 5,575 |
Basic earnings per share (in dollars per share) | $ 0.13 | $ 0.23 | $ 0.28 | $ 0.27 | $ 0.26 | $ 0.31 | $ 0.31 | $ 0.30 | $ 0.21 | $ 0.26 | $ 0.23 | $ 0.16 | $ 0.89 | $ 1.18 | $ 0.88 |
Diluted earnings per share (in dollars per share) | $ 0.13 | $ 0.22 | $ 0.28 | $ 0.26 | $ 0.25 | $ 0.30 | $ 0.31 | $ 0.30 | $ 0.21 | $ 0.25 | $ 0.22 | $ 0.15 | $ 0.88 | $ 1.16 | $ 0.86 |
Note 23 - Mortgage Operations (
Note 23 - Mortgage Operations (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Cumulative Losses, Payable Balance | $ 342 | $ 632 |
Cumulative Net Loss in Joint Ventures | $ 4,352 | |
Reliant Mortgage Ventures, LLC [Member] | ||
Noncontrolling Interest, Ownership Percentage by Parent | 51.00% | |
Financial Rights, Ownership Percentage in Joint Venture | 30.00% | |
Profit Share Percentage in Joint Venture | 30.00% | |
Reliant Mortgage Ventures, LLC [Member] | VHC Fund 1, LLC [Member] | ||
Financial Rights, Ownership Percentage in Joint Venture | 70.00% | |
Profit Share Percentage in Joint Venture | 70.00% | |
Operating Loss, Percentage Share in Joint Venture | 100.00% | |
Reliant Mortgage Ventures, LLC [Member] | VHC Fund 1, LLC [Member] | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% |
Note 24 - Parent Company Con116
Note 24 - Parent Company Condensed Financial Information - Condensed Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
ASSETS | ||||
Cash and cash equivalents | $ 20,668 | $ 24,243 | $ 20,570 | $ 11,147 |
Other assets | 5,601 | 10,134 | ||
TOTAL ASSETS | 1,125,034 | 911,984 | ||
LIABILITIES AND EQUITY | ||||
Dividends payable | 542 | 1,711 | ||
Shareholders'equity | 140,137 | 106,919 | ||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 1,125,034 | 911,984 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 1,709 | 166 | $ 113 | |
Due from bank | 1,711 | |||
Investment in subsidiary | 137,765 | 105,874 | ||
Other assets | 1,841 | 920 | ||
TOTAL ASSETS | 141,315 | 108,671 | ||
LIABILITIES AND EQUITY | ||||
Dividends payable | 542 | 1,711 | ||
Accrued expenses and other liabilities | 636 | 41 | ||
Shareholders'equity | 140,137 | 106,919 | ||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 141,315 | $ 108,671 |
Note 24 - Parent Company Con117
Note 24 - Parent Company Condensed Financial Information - Condensed Statement of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
INCOME TAX EXPENSE | $ 1,942 | $ 2,213 | $ 2,271 | ||||||||||||
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS | $ 1,155 | $ 1,846 | $ 2,187 | $ 2,058 | $ 1,971 | $ 2,368 | $ 2,360 | $ 2,237 | $ 1,528 | $ 1,833 | $ 1,602 | $ 612 | 7,246 | 8,936 | 5,575 |
Parent Company [Member] | |||||||||||||||
Dividends from subsidiary | 2,141 | 3,161 | 3,139 | ||||||||||||
Other expense | 2,920 | 1,326 | 1,413 | ||||||||||||
Income before income tax and undistributed income from subsidiary | (779) | 1,835 | 1,726 | ||||||||||||
INCOME TAX EXPENSE | (922) | (508) | (446) | ||||||||||||
Equity in undistributed income from subsidiary | 7,103 | 6,593 | 3,403 | ||||||||||||
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS | $ 7,246 | $ 8,936 | $ 5,575 |
Note 24 - Parent Company Con118
Note 24 - Parent Company Condensed Financial Information - Condensed Statement of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
OPERATING ACTIVITIES | |||||||||||||||
Net income attributable to common shareholders | $ 1,155 | $ 1,846 | $ 2,187 | $ 2,058 | $ 1,971 | $ 2,368 | $ 2,360 | $ 2,237 | $ 1,528 | $ 1,833 | $ 1,602 | $ 612 | $ 7,246 | $ 8,936 | $ 5,575 |
Reclassification of federal income tax rate change | (245) | ||||||||||||||
Adjustments to reconcile consolidated net income to net cash provided (used) in operating activities | |||||||||||||||
Other assets | 4,371 | (6,580) | (1,357) | ||||||||||||
Other liabilities | 403 | 1,501 | (167) | ||||||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | (19,644) | 48,762 | (22,685) | ||||||||||||
INVESTING ACTIVITIES | |||||||||||||||
Cash received in merger | 12,378 | ||||||||||||||
NET CASH USED IN INVESTING ACTIVITIES | (186,489) | (72,682) | (72,468) | ||||||||||||
FINANCING ACTIVITIES | |||||||||||||||
NET CASH PROVIDED BY FINANCING ACTIVITIES | 202,558 | 27,593 | 104,576 | ||||||||||||
Net change in cash and cash equivalents | (3,575) | 3,673 | 9,423 | ||||||||||||
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 24,243 | 20,570 | 11,147 | 24,243 | 20,570 | 11,147 | |||||||||
CASH AND CASH EQUIVALENTS - END OF PERIOD | 20,668 | 24,243 | 20,570 | 20,668 | 24,243 | 20,570 | |||||||||
Parent Company [Member] | |||||||||||||||
OPERATING ACTIVITIES | |||||||||||||||
Net income attributable to common shareholders | 7,246 | 8,936 | 5,575 | ||||||||||||
Reclassification of federal income tax rate change | (245) | ||||||||||||||
Adjustments to reconcile consolidated net income to net cash provided (used) in operating activities | |||||||||||||||
Equity in undistributed income from subsidiary | (7,103) | (6,593) | (3,403) | ||||||||||||
Other assets | 790 | (219) | (2,337) | ||||||||||||
Other liabilities | 595 | (582) | 336 | ||||||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 1,283 | 1,542 | 171 | ||||||||||||
INVESTING ACTIVITIES | |||||||||||||||
Investment in subsidiary | (21,195) | (4,772) | (1,895) | ||||||||||||
Cash received in merger | 17 | ||||||||||||||
NET CASH USED IN INVESTING ACTIVITIES | (21,195) | (4,772) | (1,878) | ||||||||||||
FINANCING ACTIVITIES | |||||||||||||||
Dividends paid | (3,193) | (1,489) | |||||||||||||
Proceeds from equity issuances, net | 24,648 | 4,772 | 1,820 | ||||||||||||
NET CASH PROVIDED BY FINANCING ACTIVITIES | 21,455 | 3,283 | 1,820 | ||||||||||||
Net change in cash and cash equivalents | 1,543 | 53 | 113 | ||||||||||||
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | $ 166 | $ 113 | 166 | 113 | |||||||||||
CASH AND CASH EQUIVALENTS - END OF PERIOD | $ 1,709 | $ 166 | $ 113 | $ 1,709 | $ 166 | $ 113 |
Note 25 - Subsequent Events (De
Note 25 - Subsequent Events (Details Textual) | Jan. 01, 2018 |
Community First [Member] | Subsequent Event [Member] | |
Business Combination, Common Stock Conversion Ratio | 0.481 |
Note 25 - Subsequent Events - A
Note 25 - Subsequent Events - Allocation of Purchase Price and Assets and Goodwill Recognized (Details) $ / shares in Units, $ in Thousands | Jan. 01, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 29, 2017$ / shares | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Goodwill | $ 11,404 | $ 11,404 | $ 11,404 | ||
Community First [Member] | |||||
Shares of Commerce Union common stock outstanding as of March 31, 2015 (in shares) | shares | 5,025,884 | ||||
Reliant Bancorp, Inc. share price at December 29, 2017 (in dollars per share) | $ / shares | $ 25.64 | ||||
Community First [Member] | Subsequent Event [Member] | |||||
Exchange ratio for Reliant Bancorp, Inc. common stock | 0.481 | ||||
Share conversion (in shares) | shares | 2,417,450 | ||||
Reliant Bancorp, Inc. common stock shares issued (in shares) | shares | 2,416,444 | ||||
Value of Reliant Bancorp, Inc. common stock shares issued | $ 61,958 | ||||
Value of fractional shares redeemed for cash | 25 | ||||
Estimated fair value of Community First | 61,983 | ||||
Total consideration | 61,983 | ||||
Cash and cash equivalents | (33,128) | ||||
Time deposits in other financial institutions | (23,309) | ||||
Investment securities available for sale | (69,078) | ||||
Loans, net of unearned income | (313,040) | ||||
Mortgage loans held for sale, net | (910) | ||||
Accrued interest receivable | (1,165) | ||||
Premises and equipment | (9,585) | ||||
Restricted equity securities | (1,727) | ||||
Cash surrender value of life insurance contracts | (10,664) | ||||
Other real estate owned | (1,650) | ||||
Deferred tax asset, net | (4,885) | ||||
Core deposit intangible | (7,888) | ||||
Other assets | (1,888) | ||||
Deposits—noninterest-bearing | 80,395 | ||||
Deposits—interest-bearing | 352,100 | ||||
Other borrowings | 11,522 | ||||
Payables and other liabilities | 4,978 | ||||
Net liabilities assumed (net assets acquired) | (29,922) | ||||
Goodwill | $ 32,061 |
Note 25 - Subsequent Events - O
Note 25 - Subsequent Events - Operating Lease Agreements Subsequently Entered Into (Details) - Subsequent Event [Member] | 2 Months Ended |
Mar. 15, 2018 | |
101 Creekstone Blvd., Franklin, TN [Member] | |
Base Lease Expiration Date | Jan. 31, 2022 |
Base Lease Term With Renewal Periods (Year) | 4 years |
Escalation Clause | 3.00% |
633 Chestnut St., Chattanooga, TN [Member] | |
Base Lease Expiration Date | |
Base Lease Term With Renewal Periods (Year) | 10 years |
Escalation Clause | 2.00% |
633 Chestnut St. Chattanooga, TN 2 [Member] | |
Base Lease Expiration Date | Oct. 31, 2018 |
Base Lease Term With Renewal Periods (Year) | 240 days |
Escalation Clause | 0.00% |
Note 25 - Subsequent Events - F
Note 25 - Subsequent Events - Future Minimum Rental Payments (Details) - USD ($) $ in Thousands | Mar. 15, 2018 | Dec. 31, 2017 |
2,018 | $ 2,103 | |
2,019 | 2,094 | |
2,020 | 2,124 | |
2,021 | 1,775 | |
2,022 | 1,496 | |
Thereafter | 5,380 | |
Total | $ 14,972 | |
Subsequent Event [Member] | ||
2,018 | $ 57 | |
2,019 | 179 | |
2,020 | 180 | |
2,021 | 181 | |
2,022 | 170 | |
Thereafter | 1,050 | |
Total | $ 1,817 |