Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 10, 2018 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | PATHFINDER BANCORP, INC. | |
Entity Central Index Key | 1,609,065 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 4,347,413 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Trading Symbol | PBHC |
Consolidated Statements of Cond
Consolidated Statements of Condition (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS: | ||
Cash and due from banks | $ 8,787 | $ 9,708 |
Interest-earning deposits (including restricted balances of $4,365 and $6,342, respectively) | 27,953 | 12,283 |
Total cash and cash equivalents | 36,740 | 21,991 |
Available-for-sale securities, at fair value | 184,030 | 171,138 |
Held-to-maturity securities, at amortized cost (fair value of $26,244 and $66,426, respectively) | 26,647 | 66,196 |
Marketable equity securities, at fair value | 541 | |
Federal Home Loan Bank stock, at cost | 4,388 | 3,855 |
Loans | 607,185 | 580,831 |
Less: Allowance for loan losses | 7,605 | 7,126 |
Loans receivable, net | 599,580 | 573,705 |
Premises and equipment, net | 16,692 | 16,117 |
Accrued interest receivable | 2,725 | 3,047 |
Foreclosed real estate | 97 | 468 |
Intangible assets, net | 173 | 182 |
Goodwill | 4,536 | 4,536 |
Bank owned life insurance | 16,695 | 11,742 |
Other assets | 10,638 | 8,280 |
Total assets | 903,482 | 881,257 |
Deposits: | ||
Interest-bearing | 624,718 | 633,820 |
Noninterest-bearing | 108,451 | 89,783 |
Total deposits | 733,169 | 723,603 |
Short-term borrowings | 26,600 | 30,600 |
Long-term borrowings | 57,503 | 43,288 |
Subordinated loans | 15,076 | 15,059 |
Accrued interest payable | 255 | 186 |
Other liabilities | 8,010 | 6,377 |
Total liabilities | 840,613 | 819,113 |
Shareholders' equity: | ||
Common stock, par value $0.01; 25,000,000 authorized shares; 4,332,076 and 4,280,227 shares outstanding, respectively | 43 | 43 |
Additional paid in capital | 28,629 | 28,170 |
Retained earnings | 40,540 | 39,020 |
Accumulated other comprehensive loss | (5,471) | (4,208) |
Unearned ESOP | (1,124) | (1,214) |
Total Pathfinder Bancorp, Inc. shareholders' equity | 62,617 | 61,811 |
Noncontrolling interest | 252 | 333 |
Total equity | 62,869 | 62,144 |
Total liabilities and shareholders' equity | $ 903,482 | $ 881,257 |
Consolidated Statements of Con3
Consolidated Statements of Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS: | ||
Restricted Cash | $ 4,365 | $ 6,342 |
Held-to-maturity securities at fair value | $ 26,244 | $ 66,426 |
Shareholders' equity: | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Common stock, shares outstanding (in shares) | 4,332,076 | 4,280,227 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest and dividend income: | ||||
Loans, including fees | $ 7,018 | $ 5,869 | $ 13,736 | $ 11,610 |
Debt securities: | ||||
Taxable | 1,171 | 825 | 2,299 | 1,577 |
Tax-exempt | 217 | 312 | 465 | 590 |
Dividends | 61 | 50 | 129 | 104 |
Federal funds sold and interest earning deposits | 49 | 28 | 96 | 73 |
Total interest and dividend income | 8,516 | 7,084 | 16,725 | 13,954 |
Interest expense: | ||||
Interest on deposits | 1,566 | 895 | 2,911 | 1,660 |
Interest on short-term borrowings | 70 | 283 | 163 | 578 |
Interest on long-term borrowings | 203 | 128 | 378 | 248 |
Interest on subordinated loans | 210 | 197 | 413 | 390 |
Total interest expense | 2,049 | 1,503 | 3,865 | 2,876 |
Net interest income | 6,467 | 5,581 | 12,860 | 11,078 |
Provision for loan losses | 297 | 423 | 910 | 812 |
Net interest income after provision for loan losses | 6,170 | 5,158 | 11,950 | 10,266 |
Noninterest income: | ||||
Earnings and gain on bank owned life insurance | 108 | 62 | 181 | 133 |
Net (losses) gains on sales and redemptions of investment securities | (22) | 135 | (129) | 206 |
Gains on equity securities | 13 | 0 | 26 | 0 |
Net gains (losses) on sales of loans and foreclosed real estate | 13 | (21) | 16 | (45) |
Total noninterest income | 1,024 | 1,050 | 1,919 | 1,987 |
Noninterest expense: | ||||
Salaries and employee benefits | 3,429 | 2,819 | 6,513 | 5,669 |
Building occupancy | 553 | 531 | 1,144 | 1,070 |
Data processing | 476 | 416 | 955 | 843 |
Professional and other services | 405 | 219 | 736 | 410 |
Advertising | 285 | 172 | 476 | 348 |
FDIC assessments | 135 | 81 | 255 | 137 |
Audits and exams | 105 | 85 | 210 | 169 |
Other expenses | 739 | 688 | 1,297 | 1,338 |
Total noninterest expense | 6,127 | 5,011 | 11,586 | 9,984 |
Income before income taxes | 1,067 | 1,197 | 2,283 | 2,269 |
Provision for income taxes | 166 | 238 | 348 | 483 |
Net income attributable to noncontrolling interest and Pathfinder Bancorp, Inc. | 901 | 959 | 1,935 | 1,786 |
Net income attributable to noncontrolling interest | (44) | 39 | (14) | 66 |
Net income attributable to Pathfinder Bancorp Inc. | $ 945 | $ 920 | $ 1,949 | $ 1,720 |
Earnings per common share - basic | $ 0.23 | $ 0.23 | $ 0.47 | $ 0.42 |
Earnings per common share - diluted | 0.22 | 0.22 | 0.46 | 0.41 |
Dividends per common share | $ 0.06 | $ 0.0525 | $ 0.12 | $ 0.1025 |
Service Charges on Deposit Accounts [Member] | ||||
Noninterest income: | ||||
Noninterest income | $ 273 | $ 274 | $ 547 | $ 537 |
Loan Servicing Fees [Member] | ||||
Noninterest income: | ||||
Noninterest income | 42 | 32 | 83 | 68 |
Debit Card Interchange Fees [Member] | ||||
Noninterest income: | ||||
Noninterest income | 148 | 147 | 291 | 268 |
Other Charges, Commissions & Fees [Member] | ||||
Noninterest income: | ||||
Noninterest income | $ 449 | $ 421 | $ 904 | $ 820 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Consolidated Statements of Comprehensive Income [Abstract] | |||||
Net Income | $ 901 | $ 959 | $ 1,935 | $ 1,786 | |
Retirement Plans: | |||||
Retirement plan net losses recognized in plan expenses | 43 | 37 | 86 | 73 | |
Unrealized holding (losses) gains on available-for-sale securities | |||||
Unrealized holding (losses) gains arising during the period | (1,156) | 1,387 | (2,502) | 2,408 | |
Reclassification adjustment for net (losses) gains included in net income | 22 | (135) | 129 | (206) | |
Net unrealized (losses) gains on available-for-sale securities | (1,134) | 1,252 | (2,373) | 2,202 | |
Accretion of net unrealized loss on securities transferred to held-to-maturity | [1] | 470 | 22 | 163 | 58 |
Other comprehensive (loss) income, before tax | (621) | 1,311 | (2,124) | 2,333 | |
Tax effect | 162 | (524) | 555 | (931) | |
Other comprehensive (loss) income, net of tax | (459) | 787 | (1,569) | 1,402 | |
Comprehensive income | 442 | 1,746 | 366 | 3,188 | |
Comprehensive (loss) income, attributable to noncontrolling interest | (44) | 39 | (14) | 66 | |
Comprehensive income attributable to Pathfinder Bancorp, Inc. | 486 | 1,707 | 380 | 3,122 | |
Tax Effect Allocated to Each Component of Other Comprehensive (Loss) Income | |||||
Retirement plan net losses recognized in plan expenses | (11) | (15) | (22) | (28) | |
Unrealized holding (losses) gains arising during the period | 302 | (555) | 654 | (963) | |
Reclassification adjustment for net (losses) gains included in net income | (6) | 55 | (34) | 83 | |
Accretion of net unrealized loss on securities transferred to held-to-maturity | [1] | (123) | (9) | (43) | (23) |
Income tax effect related to other comprehensive (loss) income | $ 162 | $ (524) | $ 555 | $ (931) | |
[1] | The accretion of the unrealized holding losses in accumulated other comprehensive loss at the date of transfer at September 30, 2013 partially offsets the amortization of the difference between the par value and the fair value of the investment securities at the date of transfer, and is an adjustment of yield. |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Unearned ESOP [Member] | Non-controlling Interest [Member] | |
Balance at Dec. 31, 2016 | $ 58,361 | $ 43 | $ 27,483 | $ 35,619 | $ (3,822) | $ (1,394) | $ 432 | |
Net income | 1,786 | 1,720 | 66 | |||||
Other comprehensive income (loss), net of tax | 1,402 | 1,402 | ||||||
ESOP shares earned | 180 | 90 | 90 | |||||
Stock based compensation | 189 | 189 | ||||||
Stock options exercised | 61 | 61 | ||||||
Common stock dividends declared | (417) | (417) | ||||||
Distributions from affiliates | (31) | (31) | ||||||
Balance at Jun. 30, 2017 | 61,531 | 43 | 27,823 | 36,922 | (2,420) | (1,304) | 467 | |
Net income | 959 | |||||||
Other comprehensive income (loss), net of tax | 787 | |||||||
Balance at Jun. 30, 2017 | 61,531 | 43 | 27,823 | 36,922 | (2,420) | (1,304) | 467 | |
Balance at Dec. 31, 2017 | 62,144 | 43 | 28,170 | 39,020 | (4,208) | (1,214) | 333 | |
Net income | 1,935 | 1,949 | (14) | |||||
Other comprehensive income (loss), net of tax | (1,569) | (1,569) | ||||||
ESOP shares earned | 191 | 101 | 90 | |||||
Stock based compensation | 162 | 162 | ||||||
Stock options exercised | 204 | 204 | ||||||
Cumulative effect of change in equity securities and investment securities | ASU 2016-01 [Member] | [1] | (53) | 53 | (53) | ||||
Cumulative effect of change in equity securities and investment securities | ASU 2017-12 [Member] | [2] | 359 | 359 | |||||
Common stock dividends declared | (497) | (497) | ||||||
Cumulative effect of affiliate capital allocation | (8) | 15 | (7) | |||||
Distributions from affiliates | (60) | (60) | ||||||
Balance at Jun. 30, 2018 | 62,869 | 43 | 28,629 | 40,540 | (5,471) | (1,124) | 252 | |
Net income | 901 | |||||||
Other comprehensive income (loss), net of tax | (459) | |||||||
Balance at Jun. 30, 2018 | $ 62,869 | $ 43 | $ 28,629 | $ 40,540 | $ (5,471) | $ (1,124) | $ 252 | |
[1] | Cumulative effect of unrealized gain on marketable equity securities based on the adoption of ASU 2016-01 - Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities. | |||||||
[2] | Cumulative effect of unrealized gains on the transfer of 52 investment securities from held-to-maturity classification to available-for-sale classification based on the adoption of ASU 2017-12: Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) | 6 Months Ended | |
Jun. 30, 2018Security$ / sharesshares | Jun. 30, 2017$ / sharesshares | |
ESOP shares earned (in shares) | 12,221 | 12,221 |
Restricted stock units (in shares) | 14,490 | 15,720 |
Dividends per common share | $ / shares | $ 0.12 | $ 0.1025 |
ASU 2017-12 [Member] | ||
Number of investment securities classified from held-to-maturity to available-for-sale. | Security | 52 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
OPERATING ACTIVITIES | ||
Net income attributable to Pathfinder Bancorp, Inc. | $ 1,949 | $ 1,720 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Provision for loan losses | 910 | 812 |
Realized (gains) losses on sales, redemptions and calls of: | ||
Real estate acquired through foreclosure | (16) | 49 |
Loans | 0 | (4) |
Available-for-sale investment securities | 131 | 59 |
Held-to-maturity investment securities | (2) | (15) |
Premises and equipment | (8) | 0 |
Depreciation | 578 | 503 |
Amortization of mortgage servicing rights | 22 | 6 |
Amortization of deferred loan costs | 150 | 100 |
Amortization of deferred financing from subordinated debt | 17 | 17 |
Earnings and gain on bank owned life insurance | (181) | (133) |
Net amortization of premiums and discounts on investment securities | 994 | 825 |
Amortization of intangible assets | 9 | 8 |
Stock based compensation and ESOP expense | 353 | 369 |
Net change in accrued interest receivable | 322 | (147) |
Pension plan contribution | (825) | 0 |
Net change in other assets and liabilities | 648 | (786) |
Net cash flows from operating activities | 5,051 | 3,383 |
INVESTING ACTIVITIES | ||
Purchase of investment securities available-for-sale | (34,427) | (53,077) |
Purchase of investment securities held-to-maturity | 0 | (18,636) |
Purchase of Federal Home Loan Bank stock | (4,660) | (1,200) |
Proceeds from redemption of Federal Home Loan Bank stock | 4,127 | 0 |
Proceeds from maturities and principal reductions of investment securities available-for-sale | 24,941 | 18,746 |
Proceeds from maturities and principal reductions of investment securities held-to-maturity | 4,688 | 3,906 |
Proceeds from sales, redemptions and calls of: | ||
Available-for-sale investment securities | 27,125 | 40,357 |
Held-to-maturity investment securities | 967 | 213 |
Real estate acquired through foreclosure | 496 | 556 |
Premise and equipment | 14 | 0 |
Purchase of bank owned life insurance | (5,000) | 0 |
Proceeds from bank owned life insurance | 228 | 0 |
Realized gains on hedging activity | 0 | (250) |
Net change in loans | (27,044) | (58,265) |
Purchase of premises and equipment | (1,159) | (1,108) |
Net cash flows from investing activities | (9,704) | (68,758) |
FINANCING ACTIVITIES | ||
Net change in demand deposits, NOW accounts, savings accounts, money management deposit accounts, MMDA accounts and escrow deposits | (2,634) | 38,884 |
Net change in time deposits | 1,842 | 8,737 |
Net change in brokered deposits | 10,358 | (14,761) |
Net change in short-term borrowings | (4,000) | (411) |
Payments on long-term borrowings | 0 | (3,000) |
Proceeds from long-term borrowings | 14,215 | 29,160 |
Proceeds from exercise of stock options | 204 | 61 |
Cash dividends paid to common shareholders | (502) | (425) |
Change in noncontrolling interest, net | (81) | 35 |
Net cash flows from financing activities | 19,402 | 58,280 |
Change in cash and cash equivalents | 14,749 | (7,095) |
Cash and cash equivalents at beginning of period | 21,991 | 22,419 |
Cash and cash equivalents at end of period | 36,740 | 15,324 |
CASH PAID DURING THE PERIOD FOR: | ||
Interest | 3,793 | 2,845 |
Income taxes | 645 | 210 |
NON-CASH INVESTING ACTIVITY | ||
Real estate acquired in exchange for loans | 109 | 686 |
RESTRICTED CASH | ||
Federal Reserve Bank Reserve Requirements included in interest earning deposits | $ 4,365 | $ 4,255 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | Note 1: Basis of Presentation The accompanying unaudited consolidated financial statements of Pathfinder Bancorp, Inc., (the “Company”), Pathfinder Bank (the “Bank”) and its other wholly owned subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions for Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes necessary for a complete presentation of consolidated financial condition, results of operations and cash flows in conformity with generally accepted accounting principles. In the opinion of management, all adjustments, consisting of normal recurring accruals considered necessary for a fair presentation, have been included. Certain amounts in the 2017 consolidated financial statements may have been reclassified to conform to the current period presentation. These reclassifications had no effect on net income or comprehensive income as previously reported. Operating results for the three and six months ended June 30, 2018 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2018 or any other interim period. The Company's consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States and follow practices within the banking industry. Application of these principles requires management to make estimates, assumptions, and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; accordingly, as this information changes, the financial statements could reflect different estimates, assumptions, and judgments. Certain accounting policies inherently have a greater reliance on the use of estimates, assumptions, and judgments and as such have a greater possibility of producing results that could be materially different than originally reported. Estimates, assumptions, and judgments are necessary when assets and liabilities are required to be recorded at fair value or when an asset or liability needs to be recorded contingent upon a future event. Carrying assets and liabilities at fair value inherently results in more financial statement volatility. The fair values and information used to record valuation adjustments for certain assets and liabilities are based on quoted market prices or are provided by unaffiliated third-party sources, when available. When third party information is not available, valuation adjustments are estimated in good faith by management. Although the Company owns, through its subsidiary Pathfinder Risk Management Company, Inc., 51% of the membership interest in FitzGibbons Agency, LLC (“Agency”), the Company is required to consolidate 100% of the Agency within the consolidated financial statements. The 49% of which the Company does not own is accounted for separately as noncontrolling interests within the consolidated financial statements. |
New Accounting Pronouncements
New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
New Accounting Pronouncements And Changes In Accounting Principles [Abstract] | |
New Accounting Pronouncements | Note 2: New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) and, to a lesser extent, other authoritative rulemaking bodies promulgate generally accepted accounting principles (“GAAP”) to regulate the standards of accounting in the United States. From time to time, the FASB issues new GAAP standards, known as Accounting Standards Updates (“ASUs”) some of which, upon adoption, may have the potential to change the way in which the Company recognizes or reports within its consolidated financial statements. The following presentation provides a description of an accounting standard that was adopted in the second quarter of 2018 as well as standards that are not currently effective but could have an impact on the Company's consolidated financial statements upon adoption. Standards Adopted in the Quarter Ended June 30, 2018 Standard: Improvements to Accounting for Hedging Activities ( ASU 2017-12: Derivatives and Hedging [Topic 815]: Targeted Improvements to Accounting for Hedging Activities ) Description: The amended guidance expands and clarifies hedge accounting for nonfinancial and financial risk components, aligns the recognition and presentation of the effects of the hedging instrument and hedged item in the financial statements, and simplifies the requirements for assessing effectiveness in a hedging relationship. Required Date of Implementation: January 1, 2019 (early adoption permitted) Effect on Consolidated Financial Statements: The Company adopted this guidance, effective January 1, 2018, in the second quarter of 2018. As a result of the adoption of this Update, the Company transferred 52 securities with an aggregate amortized cost before transfer of $35.2 million from the held-to-maturity classification to the available-for-sale classification on that date. The transfer of these securities resulted in a decrease in accumulated other comprehensive loss of $359,000 on the adoption date. The Company had no derivative or hedging positions at June 30, 2018 and, as a result, the adoption of this Update had no other material impact on the consolidated financial statements of the Company at the date of adoption or at June 30, 2018. Standards Not Yet Adopted as of June 30, 2018 Standard : Leases ( ASU 2016-02: Leases [Topic 842] ) Description: The new guidance requires lessees to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months. While the guidance requires all leases to be recognized in the balance sheet, there continues to be a differentiation between finance leases and operating leases for purposes of income statement recognition and cash flow statement presentation. For finance leases, interest on the lease liability and amortization of the right-of-use asset will be recognized separately in the statement of income. Repayments of principal on those lease liabilities will be classified within financing activities and payments of interest on the lease liability will be classified within operating activities in the statement of cash flows. For operating leases, a single lease cost is recognized in the statement of income and allocated over the lease term, generally on a straight-line basis. All cash payments are presented within operating activities in the statement of cash flows. The accounting applied by lessors is largely unchanged from existing GAAP, however, the guidance eliminates the accounting model for leveraged leases for leases that commence after the effective date of the guidance. Required Date of Implementation: January 1, 2019 (early adoption permitted) Effect on Consolidated Financial Statements: The Company occupies certain banking offices and uses certain equipment under noncancelable operating lease agreements which currently are not reflected in its consolidated balance sheet. Upon adoption of the guidance, the Company expects to report increased assets and increased liabilities as a result of recognizing right-of-use assets and lease liabilities on its consolidated balance sheet. The Company was committed to $1.1 million of minimum lease payments under noncancelable operating lease agreements at June 30, 2018. In addition, the Company leases office and similar use space, also under noncancelable operating lease agreements to unrelated entities within a limited number of its real estate locations. At June 30, 2018, the Company expects to receive approximately $1.0 million of minimum lease payments under those agreements. The Company does not expect the new guidance will have a material impact to its consolidated statement of income. ___ Standard: Leases ( ASU 2018-10: Codification Improvements to Topic 842, Leases) Description: The Board has an ongoing project on its agenda about improvements to clarify the Codification or to correct unintended application of guidance related to ASU 2016-02. Those items generally are not expected to have a significant effect on current accounting practice or create a significant administrative cost for most entities. The amendments in this Update are of a similar nature to the items typically addressed in the Codification improvements project. However, the Board decided to issue a separate Update for the improvements related to Update 2016-02 to increase stakeholders’ awareness of the amendments and to expedite the improvements. Required Date of Implementation: January 1, 2019 (early adoption permitted) Effect on Consolidated Financial Statements: See comments, above, related to the adoption of ASU 2016-02 ___ Standard: Premium Amortization on Purchased Callable Debt Securities ( ASU 2017-08: Receivables—Nonrefundable Fees and Other Costs [Subtopic 310-20]: Premium Amortization on Purchased Callable Debt Securities ) Description: The amended guidance requires the premium on callable debt securities to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. Required Date of Implementation: January 1, 2019 (early adoption permitted) Effect on Consolidated Financial Statements: The amendments should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company does not expect the guidance to have a material impact on its consolidated financial statements. ____ Standard: Improvements to Nonemployee Share-Based Payment Accounting ( ASU 2018-07: Compensation - Stock Compensation [Topic 718]) Description: Consistent with the accounting requirement for employee share-based payment awards, under the new guidance, nonemployee share-based payment awards within the scope of Topic 718 are measured on the grant date at the grant-date fair value of the equity instruments that an entity is obligated to issue when the good has been delivered or the service has been rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. The amendments in this Update affect all entities that enter into share-based payment transactions for acquiring goods and services from nonemployees. Required Date of Implementation: January 1, 2019 (early adoption permitted) Effect on Consolidated Financial Statements: The amendments should be applied using a prospective transition method. The Company does not expect the guidance will have a material impact on its consolidated financial statements. ____ Standard: Measurement of Credit Losses on Financial Instruments ( ASU 2016-13: Financial Instruments—Credit Losses [Topic 326]: Measurement of Credit Losses on Financial Instruments ) Description: The amended guidance replaces the current incurred loss model for determining the allowance for credit losses. The guidance requires financial assets measured at amortized cost to be presented at the net amount expected to be collected. The allowance for credit losses will represent a valuation account that is deducted from the amortized cost basis of the financial assets to present their net carrying value at the amount expected to be collected. The income statement will reflect the measurement of credit losses for newly recognized financial assets as well as expected increases or decreases of expected credit losses that have taken place during the period. When determining the allowance, expected credit losses over the contractual term of the financial asset(s) (taking into account prepayments) will be estimated considering relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The amended guidance also requires recording an allowance for credit losses for purchased financial assets with a more-than-insignificant amount of credit deterioration since origination. The initial allowance for these assets will be added to the purchase price at acquisition rather than being reported as an expense. Subsequent changes in the allowance will be recorded through the income statement as an expense adjustment. In addition, the amended guidance requires credit losses relating to available-for-sale debt securities to be recorded through an allowance for credit losses. The calculation of credit losses for available-for-sale securities will be similar to how it is determined under existing guidance. Required Date of Implementation: January 1, 2020 (early adoption permitted as of January 1, 2019) Effect on Consolidated Financial Statements: The Company is assessing the new guidance to determine what modifications to existing credit estimation processes may be required. The Company expects that the new guidance will result in an increase in its allowance for credit losses as a result of considering credit losses over the expected life of its loan and debt securities portfolios. Increases in the level of allowances will also reflect new requirements to include estimated credit losses on investment securities classified as held-to-maturity, if any. The Company has formed an Implementation Committee, whose membership includes representatives of senior management, to develop plans that will encompass: (1) internal methodology changes (2) data collection and management activities, (3) internal communication requirements, and (4) estimation of the projected impact of this guidance. The amount of any change in the allowance for credit losses resulting from the new guidance will ultimately be impacted by the provisions of this guidance as well as by the loan and debt security portfolios composition and asset quality at the adoption date, and economic conditions and forecasts at the time of adoption. ____ Standard: Simplifying the Test for Goodwill Impairment ( ASU 2017-04: Intangibles—Goodwill and Other [Topic 350]: Simplifying the Test for Goodwill Impairment ) Description: Current guidance requires a two-step approach to determining if recorded goodwill is impaired. In Step 1, reporting entities must first evaluate whether or not the carrying value of a reporting unit is greater than its fair value . In Step 2, if a reporting unit’s carrying value is greater than its fair value, then the entity should calculate the implied fair value of goodwill. If the carrying value of goodwill is more than the implied fair value, an impairment charge for the difference must be recorded. The amended guidance eliminates Step 2 from the goodwill impairment test. Therefore, under the new guidance, if the carrying value of a reporting unit is greater than its fair value, a goodwill impairment charge will be recorded for the difference (up to the carrying value of the recorded goodwill). Required Date of Implementation: January 1, 2020 (early adoption permitted) Effect on Consolidated Financial Statements: The amendments should be applied using a prospective transition method. The Company does not expect the guidance will have a material impact on its consolidated financial statements, unless at some point in the future one of its reporting units were to fail Step 1 of the goodwill impairment test. ____ Standard: Leases ( ASU 2018-11: Codification Improvements to Topic 842, Leases) Description: The amendments in this Update provide entities with an additional (and optional) transition method to adopt the new leases standard. Under this new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption consistent with preparers’ requests. Consequently, an entity’s reporting for the comparative periods presented in the financial statements in which it adopts the new leases standard will continue to be in accordance with current GAAP (Topic 840, Leases). An entity that elects this additional (and optional) transition method must provide the required Topic 840 disclosures for all periods that continue to be in accordance with Topic 840. The amendments do not change the existing disclosure requirements in Topic 840 (for example, they do not create interim disclosure requirements that entities previously were not required to provide ). The amendments in this Update provide lessors with a practical expedient, by class of underlying asset, to not separate nonlease components from the associated lease component and, instead, to account for those components as a single component if the nonlease components otherwise would be accounted for under the new revenue guidance (Topic 606) and both of the following are met: 1. The timing and pattern of transfer of the nonlease component(s) and associated lease component are the same. 2. The lease component, if accounted for separately, would be classified as an operating lease. If the nonlease component or components associated with the lease component are the predominant component of the combined component, an entity is required to account for the combined component in accordance with Topic 606. Otherwise, the entity must account for the combined component as an operating lease in accordance with Topic 842. An entity electing this practical expedient (including an entity that accounts for the combined component entirely in Topic 606) is required to disclose the following by class of underlying asset: 1. The fact that it elected the expedient 2. Which class(es) of underlying asset the lessor made the election to 3. The nature of (a) the lease component and nonlease component(s) that were combined as a result of applying the practical expedient and (b) any nonlease components that were not eligible for the practical expedient and, thus, not combined 4. The Topic the entity applies to the combined component (Topic 606 or Topic 842). Required Date of Implementation: January 1, 2019 (early adoption permitted) Effect on Consolidated Financial Statements: See comments, above, related to the adoption of ASU 2016-02 |
Earnings per Common Share
Earnings per Common Share | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | Note 3: Earnings per Common Share Basic earnings per share are calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Net income available to common shareholders is net income to Pathfinder Bancorp, Inc. less the total of preferred dividends declared, if any. Diluted earnings per share include the potential dilutive effect that could occur upon the assumed exercise of issued stock options using the Treasury Stock method. Anti-dilutive stock options, not included in the computation below, were -0- for the three and six months ended June 30, 2018 and were -0- for the three months ended June 30, 2017 and 46,131 for the six months ended June 30, 2017. Unallocated common shares held by the ESOP are not included in the weighted-average number of common shares outstanding for purposes of calculating earnings per common share until they are committed to be released to plan participants. The following table sets forth the calculation of basic and diluted earnings per share. Three months ended Six months ended June 30, June 30, (In thousands, except per share data) 2018 2017 2018 2017 Basic Earnings Per Common Share Net income available to common shareholders $ 945 $ 920 $ 1,949 $ 1,720 Weighted average common shares outstanding 4,157 4,074 4,138 4,063 Basic earnings per common share $ 0.23 $ 0.23 $ 0.47 $ 0.42 Diluted Earnings Per Common Share Net income available to common shareholders $ 945 $ 920 $ 1,949 $ 1,720 Weighted average common shares outstanding 4,157 4,074 4,138 4,063 Effect of assumed exercise of stock options 99 109 108 105 Diluted weighted average common shares outstanding 4,256 4,183 4,246 4,168 Diluted earnings per common share $ 0.22 $ 0.22 $ 0.46 $ 0.41 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 4: Investment Securities The amortized cost and estimated fair value of investment securities are summarized as follows: June 30, 2018 Gross Gross Estimated Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 21,256 $ - $ (221 ) $ 21,035 State and political subdivisions 28,659 67 (738 ) 27,988 Corporate 13,148 158 (301 ) 13,005 Asset backed securities 10,845 3 (63 ) 10,785 Residential mortgage-backed - US agency 34,000 21 (988 ) 33,033 Collateralized mortgage obligations - US agency 60,087 8 (1,975 ) 58,120 Collateralized mortgage obligations - Private label 20,227 18 (386 ) 19,859 Total 188,222 275 (4,672 ) 183,825 Equity investment securities: Common stock - financial services industry 205 - - 205 Total 205 - - 205 Total available-for-sale $ 188,427 $ 275 $ (4,672 ) $ 184,030 Held-to-Maturity Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 3,982 $ - $ (44 ) $ 3,938 State and political subdivisions 5,309 27 (83 ) 5,253 Corporate 6,306 2 (217 ) 6,091 Residential mortgage-backed - US agency 3,813 - (78 ) 3,735 Collateralized mortgage obligations - US agency 4,341 9 (24 ) 4,326 Collateralized mortgage obligations - Private label 2,896 16 (11 ) 2,901 Total held-to-maturity $ 26,647 $ 54 $ (457 ) $ 26,244 December 31, 2017 Gross Gross Estimated Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 41,489 $ 1 $ (154 ) $ 41,336 State and political subdivisions 13,960 12 (291 ) 13,681 Corporate 8,584 108 (92 ) 8,600 Asset backed securities 6,662 12 (30 ) 6,644 Residential mortgage-backed - US agency 36,214 23 (495 ) 35,742 Collateralized mortgage obligations - US agency 54,481 - (1,133 ) 53,348 Collateralized mortgage obligations - Private label 11,193 62 (203 ) 11,052 Total 172,583 218 (2,398 ) 170,403 Equity investment securities: Common stock - financial services industry 663 72 - 735 Total 663 72 - 735 Total available-for-sale $ 173,246 $ 290 $ (2,398 ) $ 171,138 Held-to-Maturity Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 4,948 $ 14 $ (14 ) $ 4,948 State and political subdivisions 35,130 641 (311 ) 35,460 Corporate 8,311 151 (159 ) 8,303 Residential mortgage-backed - US agency 6,853 53 (10 ) 6,896 Collateralized mortgage obligations - US agency 7,574 83 (215 ) 7,442 Collateralized mortgage obligations - Private label 3,380 7 (10 ) 3,377 Total held-to-maturity $ 66,196 $ 949 $ (719 ) $ 66,426 The amortized cost and estimated fair value of debt investments at June 30, 2018 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Available-for-Sale Held-to-Maturity Amortized Estimated Amortized Estimated (In thousands) Cost Fair Value Cost Fair Value Due in one year or less $ 8,236 $ 8,215 $ 1,211 $ 1,207 Due after one year through five years 25,042 24,758 6,503 6,474 Due after five years through ten years 18,331 18,081 4,940 4,864 Due after ten years 22,299 21,759 2,943 2,737 Sub-total 73,908 72,813 15,597 15,282 Residential mortgage-backed - US agency 34,000 33,033 3,813 3,735 Collateralized mortgage obligations - US agency 60,087 58,120 4,341 4,326 Collateralized mortgage obligations - Private label 20,227 19,859 2,896 2,901 Totals $ 188,222 $ 183,825 $ 26,647 $ 26,244 The Company’s investment securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: June 30, 2018 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (Dollars in thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale Portfolio US Treasury, agencies and GSE's 4 $ (206 ) $ 15,031 2 $ (15 ) $ 5,984 6 $ (221 ) $ 21,015 State and political subdivisions 18 (186 ) 9,113 15 (552 ) 10,486 33 (738 ) 19,599 Corporate 7 (134 ) 5,062 2 (167 ) 1,640 9 (301 ) 6,702 Asset backed securities 5 (63 ) 5,939 - - - 5 (63 ) 5,939 Residential mortgage-backed - US agency 19 (452 ) 20,238 9 (536 ) 10,054 28 (988 ) 30,292 Collateralized mortgage obligations - US agency 15 (365 ) 22,610 23 (1,610 ) 27,986 38 (1,975 ) 50,596 Collateralized mortgage obligations - Private label 7 (278 ) 13,833 3 (108 ) 3,229 10 (386 ) 17,062 Totals 75 $ (1,684 ) $ 91,826 54 $ (2,988 ) $ 59,379 129 $ (4,672 ) $ 151,205 Held-to-Maturity Portfolio US Treasury, agencies and GSE's 3 $ (20 ) $ 2,963 1 $ (24 ) $ 976 4 $ (44 ) $ 3,939 State and political subdivisions 5 (8 ) 1,071 3 (75 ) 1,986 8 (83 ) 3,057 Corporate 2 (37 ) 1,278 1 (180 ) 2,048 3 (217 ) 3,326 Residential mortgage-backed - US agency 6 (78 ) 3,735 - - - 6 (78 ) 3,735 Collateralized mortgage obligations - US agency 2 (24 ) 2,379 - - - 2 (24 ) 2,379 Collateralized mortgage obligations - Private label - - - 1 (11 ) 949 1 (11 ) 949 Totals 18 $ (167 ) $ 11,426 6 $ (290 ) $ 5,959 24 $ (457 ) $ 17,385 December 31, 2017 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (Dollars in thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale Portfolio US Treasury, agencies and GSE's 5 $ (105 ) $ 27,359 4 $ (49 ) $ 13,957 9 $ (154 ) $ 41,316 State and political subdivisions 18 (24 ) 2,480 12 (267 ) 5,041 30 (291 ) 7,521 Corporate 2 (19 ) 1,791 1 (73 ) 1,727 3 (92 ) 3,518 Asset backed securities 2 (17 ) 3,123 1 (13 ) 742 3 (30 ) 3,865 Residential mortgage-backed - US agency 15 (159 ) 21,551 9 (336 ) 10,463 24 (495 ) 32,014 Collateralized mortgage obligations - US agency 14 (195 ) 23,790 21 (938 ) 25,395 35 (1,133 ) 49,185 Collateralized mortgage obligations - Private label 4 (203 ) 7,439 - - - 4 (203 ) 7,439 Totals 60 $ (722 ) $ 87,533 48 $ (1,676 ) $ 57,325 108 $ (2,398 ) $ 144,858 Held-to-Maturity Portfolio US Treasury, agencies and GSE's 2 $ (2 ) $ 1,990 1 $ (12 ) $ 988 3 $ (14 ) $ 2,978 State and political subdivisions 8 (55 ) 5,668 11 (256 ) 8,644 19 (311 ) 14,312 Corporate 3 (10 ) 1,412 1 (149 ) 2,087 4 (159 ) 3,499 Residential mortgage-backed - US agency 2 (10 ) 1,909 - - - 2 (10 ) 1,909 Collateralized mortgage obligations - US agency 2 (215 ) 4,418 - - - 2 (215 ) 4,418 Collateralized mortgage obligations - Private label 1 (10 ) 1,119 - - - 1 (10 ) 1,119 Totals 18 $ (302 ) $ 16,516 13 $ (417 ) $ 11,719 31 $ (719 ) $ 28,235 Excluding the effects of changes in the characteristics of individual debt securities that potentially give rise to other-than-temporary impairment (“OTTI”), as described below, the fair market value of a debt security as of a particular measurement date is highly dependent upon prevailing market and economic environmental factors at the measurement date relative to the prevailing market and economic environmental factors present at the time the debt security was acquired. The most significant market and environmental factors include, but are not limited to (1) the general level of interest rates, (2) the relationship between shorter-term interest rates and longer-term interest rates (referred to as the “slope” of the interest rate yield curve), (3) general bond market liquidity, (4) the recent and expected near-term volume of new issuances of similar debt securities, and (5) changes in the market values of individual loan collateral underlying mortgage-backed debt securities. Changes in interest rates affect the fair market values of debt securities by influencing the discount rate applied to the securities’ future expected cash flows. The higher the discount rate, the lower the resultant security price. Conversely, the lower the discount rate, the higher the resultant security price. In addition, the cumulative amount and timing of undiscounted cash flows of debt securities may be also affected by changes in interest rates. For any given level of movement in the general market and economic environmental factors described above, the magnitude of any particular debt security’s price changes will also depend heavily upon security-specific factors such as (1) the duration of the security, (2) imbedded optionality contractually granted to the issuer of the security with respect to principal prepayments, and (3) changes in the level of market premiums demanded by investors for securities with imbedded credit risk (where applicable). The Company conducts a formal review of investment securities on a quarterly basis for the presence of OTTI. The Company assesses whether OTTI is present when the fair value of a debt security is less than its amortized cost basis at the statement of condition date. Under these circumstances, OTTI is considered to have occurred (1) if we intend to sell the security; (2) if it is “more likely than not” we will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of expected cash flows is not anticipated to be sufficient to recover the entire amortized cost basis. The guidance requires that credit-related OTTI is recognized in earnings while non-credit-related OTTI on securities not expected to be sold is recognized in other comprehensive income (“OCI”). Non-credit-related OTTI is based on other factors, including illiquidity and changes in the general interest rate environment. Presentation of OTTI is made in the consolidated statement of income on a gross basis, including both the portion recognized in earnings as well as the portion recorded in OCI. The gross OTTI would then be offset by the amount of non-credit-related OTTI, showing the net as the impact on earnings. Management does not believe any individual unrealized loss in securities within the portfolio as of June 30, 2018 represents OTTI. At June 30, 2018, the Bank had the following securities, in a loss position for 12 months or more relative to their amortized historical cost, which were deemed to have no credit impairment, thus, the disclosed unrealized losses relate directly to changes in interest rates subsequent to the acquisition of the individual securities. The Company does not intend to sell these securities, nor is it more likely than not that the Company will be required to sell these securities prior to the recovery of the amortized cost. • Fifteen state and political subdivision securities, categorized as available-for-sale, with an aggregate amortized historical cost of $11.0 million and an aggregate market value of $10.5 million (unrealized aggregate loss of $552,000, or 5.27%). Each of the securities maintains a credit rating established by one or more nationally-recognized statistical rating organization (“NRSRO”) that is well above the minimum investment grade and, therefore, no credit-related OTTI is deemed to be present. • Two corporate securities, categorized as available-for-sale, with an aggregate amortized historical cost of $1.8 million and an aggregate market value of $1.6 million (unrealized loss of $167,000, or 10.14%). The securities maintain credit ratings established by one or more NRSRO that are above the minimum investment grade and, therefore, no credit-related OTTI is deemed to be present. • Three privately-issued mortgage-backed securities, categorized as available-for-sale, with an aggregate amortized historical cost of $3.3 million and an aggregate market value of $3.3 million (unrealized loss of $108,000, or 3.35%). Two of the securities, with aggregate book values of $2.8 million were unrated at the time of their issuance but remain significantly collateralized through subordination. Therefore, no credit-related OTTI is deemed to be present. The third security, with a book value of $521,000 is rated at the highest investment grade rating by one or more NRSRO and therefore, no credit-related OTTI is deemed to be present. • One privately-issued mortgaged-backed security, categorized as held-to-maturity, with an amortized historical cost of $960,000 and a market value of $949,000 (unrealized loss of $11,000, or 1.13%). This security was unrated at the time of its issuance but remains significantly collateralized through subordination and, therefore, no credit-related OTTI is deemed to be present. • Three state and political subdivision securities, categorized as held-to-maturity, with an aggregate amortized historical cost of $2.0 million and an aggregate market value of $2.0 million (unrealized aggregate loss of $75,000, or 3.78%). Each of the securities maintains a credit rating established by one or more NRSRO that is above the minimum investment grade and, therefore, no credit-related OTTI is deemed to be present. • One corporate security, categorized as held-to-maturity, with an amortized historical cost of $2.2 million and a market value of $2.0 million (unrealized aggregate loss of $180,000, or 8.79%). This security maintains a credit rating established by one or more NRSRO well above the minimum investment grade and, therefore, no credit-related OTTI is deemed to be present. All other securities with market values less than their amortized historical costs for twelve or more months are issued by United States agencies or government sponsored enterprises and consist of mortgage-backed securities, collateralized mortgage obligations and direct agency financings. These positions in US government agency and government-sponsored enterprises are deemed to have no credit impairment, thus, the disclosed unrealized losses relate directly to changes in interest rates subsequent to the acquisition of the individual securities. The Company does not intend to sell these securities, nor is it more likely than not that the Company will be required to sell these securities prior to the recovery of the amortized cost. In determining whether OTTI has occurred for equity securities, the Company considers the applicable factors described above and the length of time the equity security’s fair value has been below the carrying amount. The Company had no equity securities that were impaired at June 30, 2018 or December 31, 2017. Gross realized gains (losses) on sales of securities for the indicated periods are detailed below: For the three months For the six months ended June 30, ended June 30, (In thousands) 2018 2017 2018 2017 Realized gains on investments $ 133 $ 70 $ 160 $ 148 Realized gains on hedging activity - 156 - 250 Realized losses on investments (155 ) (91 ) (289 ) (192 ) $ (22 ) $ 135 $ (129 ) $ 206 Gains on equity securities 13 - 26 - $ 13 $ - $ 26 $ - The Company adopted ASU 2017-12: Derivatives and Hedging [Topic 815]: Targeted Improvements to Accounting for Hedging Activities, effective January 1, 2018, in the second quarter of 2018 . The amended guidance within this Update expands and clarifies hedge accounting for nonfinancial and financial risk components, aligns the recognition and presentation of the effects of the hedging instrument and hedged item in the financial statements, and simplifies the requirements for assessing effectiveness in a hedging relationship. The Company did not have any hedging activities in the first half of 2018 but expects to utilize hedging in the future to improve the management of its risk profiles. In order to facilitate potential future hedging activities, the Company transferred 52 investment securities with an aggregate amortized cost before transfer of $35.2 million from the held-to-maturity classification to the available-for-sale classification at the date of adoption. As of June 30, 2018 and December 31, 2017, securities with a fair value of $108.5 million and $113.0 million, respectively, were pledged to collateralize certain municipal deposit relationships. As of the same dates, securities with a fair value of $25.4 million and $19.9 million were pledged against the Company’s established borrowing arrangements. Management has reviewed its loan and mortgage-backed securities portfolios and determined that, to the best of its knowledge, only minimal exposure exists to sub-prime or other high-risk residential mortgages. With limited exceptions in the Company’s investment portfolio involving the most senior tranches of securitized bonds, the Company is not in the practice of investing in, or originating, these types of investments or loans. |
Pension and Postretirement Bene
Pension and Postretirement Benefits | 6 Months Ended |
Jun. 30, 2018 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension and Postretirement Benefits | Note 5: Pension and Postretirement Benefits The Company has a noncontributory defined benefit pension plan covering most employees. The plan provides defined benefits based on years of service and final average salary. On May 14, 2012, the Company informed its employees of its decision to freeze participation and benefit accruals under the plan, primarily to reduce some of the volatility in earnings that can accompany the maintenance of a defined benefit plan. The plan was frozen on June 30, 2012. Compensation earned by employees up to June 30, 2012 is used for purposes of calculating benefits under the plan but there are no future benefit accruals after this date. Participants as of June 30, 2012 will continue to earn vesting credit with respect to their frozen accrued benefits as they continue to work. In addition, the Company provides certain health and life insurance benefits for a limited number of eligible retired employees. The healthcare plan is contributory with participants’ contributions adjusted annually; the life insurance plan is noncontributory. Employees with less than 14 years of service as of January 1, 1995, are not eligible for the health and life insurance retirement benefits. The composition of net periodic pension plan and postretirement plan costs for the indicated periods is as follows: Pension Benefits Postretirement Benefits Pension Benefits Postretirement Benefits For the three months ended June 30, For the six months ended June 30, (In thousands) 2018 2017 2018 2017 2018 2017 2018 2017 Service cost $ - $ - $ - $ - $ - $ - $ - $ - Interest cost 118 118 6 2 236 237 11 4 Expected return on plan assets (259 ) (236 ) - - (518 ) (473 ) - - Amortization of prior service credits - - (1 ) - - - (2 ) - Amortization of net losses/(gains) 41 39 3 (2 ) 82 77 6 (4 ) Net periodic benefit plan (benefit) cost $ (100 ) $ (79 ) $ 8 $ - $ (200 ) $ (159 ) $ 15 $ - The Company has made a contribution in the amount of $825,000 to the defined benefit pension plan during the second quarter of 2018. The Company will evaluate the need for further contributions to the defined benefit pension plan during 2018. The prepaid pension asset is recorded in other assets on the statement of condition as of June 30, 2018 and December 31, 2017. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Loans | Note 6: Loans Major classifications of loans at the indicated dates are as follows: June 30, December 31, (In thousands) 2018 2017 Residential mortgage loans: 1-4 family first-lien residential mortgages $ 225,864 $ 216,793 Construction 3,288 5,558 Total residential mortgage loans 229,152 222,351 Commercial loans: Real estate 206,960 192,525 Lines of credit 49,314 51,285 Other commercial and industrial 58,742 50,097 Tax exempt loans 9,860 10,405 Total commercial loans 324,876 304,312 Consumer loans: Home equity and junior liens 26,262 25,935 Other consumer 27,037 28,646 Total consumer loans 53,299 54,581 Total loans 607,327 581,244 Net deferred loan fees (142 ) (413 ) Less allowance for loan losses (7,605 ) (7,126 ) Loans receivable, net $ 599,580 $ 573,705 Although the Bank may occasionally purchase or fund loan participation interests outside of its primary market areas, the Bank generally originates residential mortgage, commercial, and consumer loans largely to customers throughout Oswego and Onondaga counties. Although the Bank has a diversified loan portfolio, a substantial portion of its borrowers’ abilities to honor their loan contracts is dependent upon the counties’ employment and economic conditions. The Bank acquired $15.6 million and $10.2 million of loans originated by an unrelated financial institution, located outside of the Bank’s market area, in January 2017 and April 2017, respectively. The acquired loan pools represented a 90% participating interest in a total of 1,231 loans secured by liens on automobiles with maturities ranging primarily from two to six years. These loans are serviced through their respective maturities by the originating financial institution. As of June 30, 2018 and December 31, 2017 there were 1,000 loans outstanding with a remaining outstanding carrying value of $16.3 million and 1,082 loans outstanding with a remaining outstanding carrying value of $19.6 million, respectively. Since the acquisition of these loan pools, a total of nine loans had cumulative net charge-offs totaling $79,000 with $34,000 in net charge-offs for the six months ended June 30, 2018. As of June 30, 2018 and December 31, 2017, residential mortgage loans with a carrying value of $154.1 million and $148.1 million, respectively, have been pledged by the Company to the Federal Home Loan Bank of New York (“FHLBNY”) under a blanket collateral agreement to secure the Company’s line of credit and term borrowings. Loan Origination / Risk Management The Company’s lending policies and procedures are presented in Note 5 to the audited consolidated financial statements included in the 2017 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2018 and have not changed. As part of the execution of the Company’s overall balance sheet management strategies, the Bank will acquire participating interests in loans originated by unrelated third parties on a sporadic basis. The purchase of participations in loans that are originated by third parties only occurs after the completion of thorough pre-acquisition due diligence. Loans in which the Company acquires a participating interest are determined to meet, in all material respects, the Company’s internal underwriting policies, including credit and collateral suitability thresholds, prior to acquisition. In addition, the financial condition of the originating financial institutions, which are generally retained as the ongoing loan servicing provider for participations acquired by the Bank, are analyzed prior to the acquisition of the participating interests and monitored on a regular basis thereafter for the life of those interests. To develop and document a systematic methodology for determining the allowance for loan losses, the Company has divided the loan portfolio into three portfolio segments, each with different risk characteristics but with similar methodologies for assessing risk. Each portfolio segment is broken down into loan classes where appropriate. Loan classes contain unique measurement attributes, risk characteristics, and methods for monitoring and assessing risk that are necessary to develop the allowance for loan losses. Unique characteristics such as borrower type, loan type, collateral type, and risk characteristics define each class. The following table illustrates the portfolio segments and classes for the Company’s loan portfolio: Portfolio Segment Class Residential Mortgage Loans 1-4 family first-lien residential mortgages Construction Commercial Loans Real estate Lines of credit Other commercial and industrial Tax exempt loans Consumer Loans Home equity and junior liens Other consumer The following tables present the classes of the loan portfolio, not including net deferred loan costs, summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of the dates indicated: As of June 30, 2018 Special (In thousands) Pass Mention Substandard Doubtful Total Residential mortgage loans: 1-4 family first-lien residential mortgages $ 221,719 $ 485 $ 1,284 $ 2,376 $ 225,864 Construction 3,288 - - - 3,288 Total residential mortgage loans 225,007 485 1,284 2,376 229,152 Commercial loans: Real estate 201,733 1,533 1,913 1,781 206,960 Lines of credit 48,941 164 169 40 49,314 Other commercial and industrial 57,411 407 628 296 58,742 Tax exempt loans 9,860 - - - 9,860 Total commercial loans 317,945 2,104 2,710 2,117 324,876 Consumer loans: Home equity and junior liens 25,906 127 140 89 26,262 Other consumer 26,864 161 12 - 27,037 Total consumer loans 52,770 288 152 89 53,299 Total loans $ 595,722 $ 2,877 $ 4,146 $ 4,582 $ 607,327 As of December 31, 2017 Special (In thousands) Pass Mention Substandard Doubtful Total Residential mortgage loans: 1-4 family first-lien residential mortgages $ 211,825 $ 891 $ 1,869 $ 2,208 $ 216,793 Construction 5,558 - - - 5,558 Total residential mortgage loans 217,383 891 1,869 2,208 222,351 Commercial loans: Real estate 187,073 1,372 2,024 2,056 192,525 Lines of credit 50,507 195 523 60 51,285 Other commercial and industrial 48,738 407 532 420 50,097 Tax exempt loans 10,405 - - - 10,405 Total commercial loans 296,723 1,974 3,079 2,536 304,312 Consumer loans: Home equity and junior liens 25,396 61 304 174 25,935 Other consumer 28,584 55 7 - 28,646 Total consumer loans 53,980 116 311 174 54,581 Total loans $ 568,086 $ 2,981 $ 5,259 $ 4,918 $ 581,244 Management has reviewed its loan portfolio and determined that, to the best of its knowledge, no material exposure exists to sub-prime or other high-risk residential mortgages. The Company is not in the practice of originating these types of loans. Nonaccrual and Past Due Loans Loans are placed on nonaccrual when the contractual payment of principal and interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan may be currently performing. Loans are considered past due if the required principal and interest payments have not been received within thirty days of the payment due date. An age analysis of past due loans, not including net deferred loan costs, segregated by portfolio segment and class of loans, as of June 30, 2018 and December 31, 2017, are detailed in the following tables: As of June 30, 2018 30-59 Days 60-89 Days 90 Days Past Due Past Due and Total Total Loans (In thousands) And Accruing And Accruing Over Past Due Current Receivable Residential mortgage loans: 1-4 family first-lien residential mortgages $ 1,095 $ 87 $ 2,090 $ 3,272 $ 222,592 $ 225,864 Construction - - - - 3,288 3,288 Total residential mortgage loans 1,095 87 2,090 3,272 225,880 229,152 Commercial loans: Real estate 54 387 2,469 2,910 204,050 206,960 Lines of credit 161 17 133 311 49,003 49,314 Other commercial and industrial 100 9 550 659 58,083 58,742 Tax exempt loans - 238 - 238 9,622 9,860 Total commercial loans 315 651 3,152 4,118 320,758 324,876 Consumer loans: Home equity and junior liens 55 10 140 205 26,057 26,262 Other consumer 107 64 63 234 26,803 27,037 Total consumer loans 162 74 203 439 52,860 53,299 Total loans $ 1,572 $ 812 $ 5,445 $ 7,829 $ 599,498 $ 607,327 As of December 31, 2017 30-59 Days 60-89 Days 90 Days Past Due Past Due and Total Total Loans (In thousands) And Accruing And Accruing Over Past Due Current Receivable Residential mortgage loans: 1-4 family first-lien residential mortgages $ 1,196 $ 925 $ 2,088 $ 4,209 $ 212,584 $ 216,793 Construction - - - - 5,558 5,558 Total residential mortgage loans 1,196 925 2,088 4,209 218,142 222,351 Commercial loans: Real estate 720 2,056 1,545 4,321 188,204 192,525 Lines of credit 1,482 31 132 1,645 49,640 51,285 Other commercial and industrial 575 60 766 1,401 48,696 50,097 Tax exempt loans - - - - 10,405 10,405 Total commercial loans 2,777 2,147 2,443 7,367 296,945 304,312 Consumer loans: Home equity and junior liens 94 74 300 468 25,467 25,935 Other consumer 192 50 63 305 28,341 28,646 Total consumer loans 286 124 363 773 53,808 54,581 Total loans $ 4,259 $ 3,196 $ 4,894 $ 12,349 $ 568,895 $ 581,244 Nonaccrual loans, segregated by class of loan, were as follows: June 30, December 31, (In thousands) 2018 2017 Residential mortgage loans: 1-4 family first-lien residential mortgages $ 2,090 $ 2,088 2,090 2,088 Commercial loans: Real estate 2,469 1,545 Lines of credit 133 132 Other commercial and industrial 550 766 3,152 2,443 Consumer loans: Home equity and junior liens 140 300 Other consumer 63 63 203 363 Total nonaccrual loans $ 5,445 $ 4,894 The Company is required to disclose certain activities related to Troubled Debt Restructurings (“TDR”) in accordance with accounting guidance. Certain loans have been modified in a TDR where economic concessions have been granted to a borrower who is experiencing, or expected to experience, financial difficulties. These economic concessions could include a reduction in the loan interest rate, extension of payment terms, reduction of principal amortization, or other actions that it would not otherwise consider for a new loan with similar risk characteristics. The Company is required to disclose new TDRs for each reporting period for which an income statement is being presented. The pre-modification outstanding recorded investment is the principal loan balance less the provision for loan losses before the loan was modified as a TDR. The post-modification outstanding recorded investment is the principal balance less the provision for loan losses after the loan was modified as a TDR. Additional provision for loan losses is the change in the allowance for loan losses between the pre-modification outstanding recorded investment and post-modification outstanding recorded investment. The Company had no loans that have been modified as TDRs for the three months ended June 30, 2018. The table below details a loan that has been modified as a TDR for the six months ended June 30, 2018. For the six months ended June 30, 2018 (In thousands) Number of loans Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Additional provision for loan losses Other commercial and industrial loans 1 $ 300 $ 300 $ - The TDR evaluated for impairment for the six months ended June 30, 2018, has been classified as a TDR due to economic concessions granted, which included an extended maturity date that will result in a delay in payment from the original contractual maturity. The Company had no loans that have been modified as TDRs for the three or six months ended June 30, 2017. The Company is required to disclose loans that have been modified as TDRs within the previous 12 months in which there was payment default after the restructuring. The Company defines payment default as any loans 90 days past due on contractual payments. The Company had no loans that had been modified as TDRs during the twelve months prior to June 30, 2018, which had subsequently defaulted during the six months ended June 30, 2018. The Company had no loans that had been modified as TDRs during the twelve months prior to June 30, 2017, which had subsequently defaulted during the six months ended June 30, 2017. When the Company modifies a loan within a portfolio segment that is individually evaluated for impairment, a potential impairment is analyzed either based on the present value of the expected future cash flows discounted at the interest rate of the original loan terms or the fair value of the collateral less costs to sell. If it is determined that the value of the loan is less than its recorded investment, then impairment is recognized as a component of the provision for loan losses, an associated increase to the allowance for loan losses or as a charge-off to the allowance for loan losses in the current period. Impaired Loans The following table summarizes impaired loan information by portfolio class at the indicated dates: June 30, 2018 December 31, 2017 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (In thousands) Investment Balance Allowance Investment Balance Allowance With no related allowance recorded: 1-4 family first-lien residential mortgages $ 872 $ 876 $ - $ 900 $ 909 $ - Commercial real estate 2,351 2,405 - 3,314 3,360 - Commercial lines of credit 162 162 - 507 507 - Other commercial and industrial 732 733 - 523 524 - Home equity and junior liens - - - 80 80 - With an allowance recorded: 1-4 family first-lien residential mortgages 972 972 111 958 958 210 Commercial real estate 2,179 2,179 596 2,186 2,187 320 Commercial lines of credit 47 47 47 40 40 40 Other commercial and industrial 306 306 276 525 525 391 Home equity and junior liens 207 207 141 210 210 142 Total: 1-4 family first-lien residential mortgages 1,844 1,848 111 1,858 1,867 210 Commercial real estate 4,530 4,584 596 5,500 5,547 320 Commercial lines of credit 209 209 47 547 547 40 Other commercial and industrial 1,038 1,039 276 1,048 1,049 391 Home equity and junior liens 207 207 141 290 290 142 Totals $ 7,828 $ 7,887 $ 1,171 $ 9,243 $ 9,300 $ 1,103 The following table presents the average recorded investment in impaired loans for the periods indicated: For the three months ended For the six months ended June 30, June 30, (In thousands) 2018 2017 2018 2017 1-4 family first-lien residential mortgages $ 1,846 $ 1,416 $ 1,850 $ 1,482 Commercial real estate 4,971 4,508 5,147 4,696 Commercial lines of credit 376 418 433 412 Other commercial and industrial 1,050 984 1,049 997 Home equity and junior liens 208 215 235 305 Total $ 8,451 $ 7,541 $ 8,714 $ 7,892 The following table presents the cash basis interest income recognized on impaired loans for the periods indicated: For the three months ended For the six months ended June 30, June 30, (In thousands) 2018 2017 2018 2017 1-4 family first-lien residential mortgages $ 14 $ 10 $ 32 $ 21 Commercial real estate 18 50 66 95 Commercial lines of credit 10 7 21 13 Other commercial and industrial 13 6 19 13 Home equity and junior liens 3 3 6 4 Total $ 58 $ 76 $ 144 $ 146 |
Allowance for Loan Losses
Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2018 | |
Allowance For Loan Losses [Abstract] | |
Allowance for Loan Losses | Note 7: Allowance for Loan Losses Summarized in the tables below are changes in the allowance for loan losses for the indicated periods and information pertaining to the allocation of the allowance for loan losses, balances of the allowance for loan losses, loans receivable based on individual, and collective impairment evaluation by loan portfolio class. An allocation of a portion of the allowance to a given portfolio class does not limit the Company’s ability to absorb losses in another portfolio class. For the three months ended June 30, 2018 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for loan losses: Beginning Balance $ 751 $ - $ 3,895 $ 719 $ 1,309 Charge-offs (74 ) - - (50 ) (48 ) Recoveries - - - 66 - Provisions (credits) 45 - 246 (4 ) 10 Ending balance $ 722 $ - $ 4,141 $ 731 $ 1,271 Ending balance: related to loans individually evaluated for impairment 111 - 596 47 276 Ending balance: related to loans collectively evaluated for impairment $ 611 $ - $ 3,545 $ 684 $ 995 Loans receivables: Ending balance $ 225,864 $ 3,288 $ 206,960 $ 49,314 $ 58,742 Ending balance: individually evaluated for impairment 1,844 - 4,530 209 1,038 Ending balance: collectively evaluated for impairment $ 224,020 $ 3,288 $ 202,430 $ 49,105 $ 57,704 Home Other Tax exempt and junior liens Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1 $ 507 $ 260 $ 9 $ 7,451 Charge-offs - - (48 ) - (220 ) Recoveries - 1 10 - 77 Provisions (credits) - (74 ) 69 5 297 Ending balance $ 1 $ 434 $ 291 $ 14 $ 7,605 Ending balance: related to loans individually evaluated for impairment - 141 - - 1,171 Ending balance: related to loans collectively evaluated for impairment $ 1 $ 293 $ 291 $ 14 $ 6,434 Loans receivables: Ending balance $ 9,860 $ 26,262 $ 27,037 $ 607,327 Ending balance: individually evaluated for impairment - 207 - 7,828 Ending balance: collectively evaluated for impairment $ 9,860 $ 26,055 $ 27,037 $ 599,499 For the six months ended June 30, 2018 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for loan losses: Beginning Balance $ 865 $ - $ 3,589 $ 735 $ 1,214 Charge-offs (192 ) - - (50 ) (171 ) Recoveries 20 - - 66 - Provisions (credits) 29 - 552 (20 ) 228 Ending balance $ 722 $ - $ 4,141 $ 731 $ 1,271 Home equity Other Tax exempt and junior liens consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1 $ 514 $ 208 $ - $ 7,126 Charge-offs - (17 ) (111 ) - (541 ) Recoveries - 1 23 - 110 Provisions (credits) - (64 ) 171 14 910 Ending balance $ 1 $ 434 $ 291 $ 14 $ 7,605 For the three months ended June 30, 2017 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for loan losses: Beginning Balance $ 943 $ - $ 2,532 $ 365 $ 1,480 Charge-offs (143 ) - - - (1 ) Recoveries - - - - 13 Provisions 13 - 272 8 119 Ending balance $ 813 $ - $ 2,804 $ 373 $ 1,611 Ending balance: related to loans individually evaluated for impairment 193 - - 7 376 Ending balance: related to loans collectively evaluated for impairment $ 620 $ - $ 2,804 $ 366 $ 1,235 Loans receivables: Ending balance $ 204,117 $ 6,640 $ 175,737 $ 21,132 $ 74,375 Ending balance: individually evaluated for impairment 1,220 - 4,474 421 967 Ending balance: collectively evaluated for impairment $ 202,897 $ 6,640 $ 171,263 $ 20,711 $ 73,408 Home equity Other Tax exempt and junior liens Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1 $ 509 $ 133 $ 1 $ 5,964 Charge-offs - - (8 ) - (152 ) Recoveries - 1 9 - 23 Provisions (credits) - (17 ) 29 (1 ) 423 Ending balance $ 1 $ 493 $ 163 $ - $ 6,258 Ending balance: related to loans individually evaluated for impairment - 142 - - 718 Ending balance: related to loans collectively evaluated for impairment $ 1 $ 351 $ 163 $ - 5,540 Loans receivables: Ending balance $ 11,446 $ 25,257 $ 30,497 $ 549,201 Ending balance: individually evaluated for impairment - 214 - 7,296 Ending balance: collectively evaluated for impairment $ 11,446 $ 25,043 $ 30,497 $ 541,905 For the six months ended June 30, 2017 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for loan losses: Beginning Balance $ 759 $ - $ 2,935 $ 397 $ 1,658 Charge-offs (156 ) - (505 ) (53 ) (17 ) Recoveries 1 - - - 15 Provisions (credits) 209 - 374 29 (45 ) Ending balance $ 813 $ - $ 2,804 $ 373 $ 1,611 Home equity Other Tax exempt and junior liens consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1 $ 331 $ 166 $ - $ 6,247 Charge-offs - (69 ) (40 ) - (840 ) Recoveries - 1 22 - 39 Provisions - 230 15 - 812 Ending balance $ 1 $ 493 $ 163 $ - $ 6,258 The Company’s methodology for determining its allowance for loan losses includes an analysis of qualitative factors that are added to the historical loss rates in arriving at the total allowance for loan losses needed for this general pool of loans. The qualitative factors include: • Changes in national and local economic trends; • The rate of growth in the portfolio; • Trends of delinquencies and nonaccrual balances; • Changes in loan policy; and • Changes in lending management experience and related staffing. Each factor is assigned a value to reflect improving, stable or declining conditions based on management’s best judgment using relevant information available at the time of the evaluation. These qualitative factors, applied to each product class, make the evaluation inherently subjective, as it requires material estimates that may be susceptible to significant revision as more information becomes available. Adjustments to the factors are supported through documentation of changes in conditions in a narrative accompanying the allowance for loan losses analysis and calculation. The allocation of the allowance for loan losses summarized on the basis of the Company’s calculation methodology was as follows: June 30, 2018 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Specifically reserved $ 111 $ - $ 596 $ 47 $ 276 Historical loss rate 111 - 86 24 17 Qualitative factors 500 - 3,459 660 978 Total $ 722 $ - $ 4,141 $ 731 $ 1,271 Home equity Other Tax exempt and junior liens consumer Unallocated Total Specifically reserved $ - $ 141 $ - $ - $ 1,171 Historical loss rate - 24 112 - 374 Qualitative factors 1 269 179 - 6,046 Other - - - 14 14 Total $ 1 $ 434 $ 291 $ 14 $ 7,605 June 30, 2017 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Specifically reserved $ 193 $ - $ - $ 7 $ 376 Historical loss rate 75 - 105 39 24 Qualitative factors 545 - 2,699 327 1,211 Total $ 813 $ - $ 2,804 $ 373 $ 1,611 Home equity Other Tax exempt and junior liens consumer Unallocated Total Specifically reserved $ - $ 142 $ - $ - $ 718 Historical loss rate - 50 29 - 322 Qualitative factors 1 301 134 - 5,218 Total $ 1 $ 493 $ 163 $ - $ 6,258 |
Foreclosed Real Estate
Foreclosed Real Estate | 6 Months Ended |
Jun. 30, 2018 | |
Real Estate Owned Disclosure Of Detailed Components [Abstract] | |
Foreclosed Real Estate | Note 8: Foreclosed Real Estate The Company is required to disclose the carrying amount of foreclosed residential real estate properties held as a result of obtaining physical possession of the property at each reporting period. (Dollars in thousands) Number of properties June 30, 2018 Number of properties December 31, 2017 Foreclosed residential real estate 4 $ 97 5 $ 468 At June 30, 2018, the Company reported $1.3 million in residential real estate loans in the process of foreclosure. |
Guarantees
Guarantees | 6 Months Ended |
Jun. 30, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Guarantees | Note 9: Guarantees The Company does not issue any guarantees that would require liability recognition or disclosure, other than its standby letters of credit. Generally, all letters of credit, when issued have expiration dates within one year. The credit risks involved in issuing letters of credit is essentially the same as those that are involved in extending loan facilities to customers. The Company generally holds collateral and/or personal guarantees supporting these commitments. The Company had $1.8 million of standby letters of credit as of June 30, 2018. Management believes that the proceeds obtained through a liquidation of collateral and the enforcement of guarantees would be sufficient to cover the potential amount of future payments required under the corresponding guarantees. The fair value of standby letters of credit was not significant to the Company’s consolidated financial statements. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 10: Fair Value Measurements Accounting guidance related to fair value measurements and disclosures specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs have created the following fair value hierarchy: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 – Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 – Model-derived valuations in which one or more significant inputs or significant value drivers are unobservable. An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs, minimize the use of unobservable inputs, to the extent possible, and considers counterparty credit risk in its assessment of fair value. The Company used the following methods and significant assumptions to estimate fair value: Investment securities: The fair values of available-for-sale and marketable equity securities are obtained from an independent third party and are based on quoted prices on nationally recognized securities exchanges where available (Level 1). If quoted prices are not available, fair values are measured by utilizing matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). Management made no adjustment to the fair value quotes that were received from the independent third party pricing service. Impaired loans: Impaired loans are those loans in which the Company has measured impairment based on the fair value of the loan’s collateral or the discounted value of expected future cash flows. Fair value is generally determined based upon market value evaluations by third parties of the properties and/or estimates by management of working capital collateral or discounted cash flows based upon expected proceeds. These appraisals may include up to three approaches to value: the sales comparison approach, the income approach (for income-producing property), and the cost approach. Management modifies the appraised values, if needed, to take into account recent developments in the market or other factors, such as, changes in absorption rates or market conditions from the time of valuation and anticipated sales values considering management’s plans for disposition. Such modifications to the appraised values could result in lower valuations of such collateral. Estimated costs to sell are based on current amounts of disposal costs for similar assets. These measurements are classified as Level 3 within the valuation hierarchy. Impaired loans are subject to nonrecurring fair value adjustment upon initial recognition or subsequent impairment. A portion of the allowance for loan losses is allocated to impaired loans if the value of such loans is deemed to be less than the unpaid balance. Foreclosed real estate: Fair values for foreclosed real estate are initially recorded based on market value evaluations by third parties, less costs to sell (“initial cost basis”). Any write-downs required when the related loan receivable is exchanged for the underlying real estate collateral at the time of transfer to foreclosed real estate are charged to the allowance for loan losses. Values are derived from appraisals, similar to impaired loans, of underlying collateral or discounted cash flow analysis. Subsequent to foreclosure, valuations are updated periodically and assets are marked to current fair value, not to exceed the initial cost basis. In the determination of fair value subsequent to foreclosure, management also considers other factors or recent developments, such as, changes in absorption rates and market conditions from the time of valuation and anticipated sales values considering management’s plans for disposition. Either change could result in adjustment to lower the property value estimates indicated in the appraisals. These measurements are classified as Level 3 within the fair value hierarchy. The following tables summarize assets measured at fair value on a recurring basis as of the indicated dates, segregated by the level of valuation inputs within the hierarchy utilized to measure fair value: June 30, 2018 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ - $ 21,035 $ - $ 21,035 State and political subdivisions - 27,988 - 27,988 Corporate - 13,005 - 13,005 Asset backed securities - 10,785 - 10,785 Residential mortgage-backed - US agency - 33,033 - 33,033 Collateralized mortgage obligations - US agency - 58,120 - 58,120 Collateralized mortgage obligations - Private label - 19,859 - 19,859 Equity investment securities: Common stock - Financial services industry - 205 205 Total available-for-sale securities $ - $ 184,030 $ - $ 184,030 Marketable equity securities $ - $ 541 $ - $ 541 December 31, 2017 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ - $ 41,336 $ - $ 41,336 State and political subdivisions - 13,681 - 13,681 Corporate - 8,600 - 8,600 Asset backed securities - 6,644 - 6,644 Residential mortgage-backed - US agency - 35,742 - 35,742 Collateralized mortgage obligations - US agency - 53,348 - 53,348 Collateralized mortgage obligations - Private label - 11,052 - 11,052 Equity investment securities: Common stock - Financial services industry - 220 515 735 Total available-for-sale securities $ - $ 170,623 $ 515 $ 171,138 The following table summarizes the valuation techniques and significant unobservable inputs used for the Company's investments that are categorized within Level 3 of the fair value hierarchy at the indicated dates: (In thousands) At December 31, 2017 Investment Type Fair Value Valuation Techniques Unobservable Input Weight Common Stock - Financial Services Industry $ 515 Inputs to comparables Weight ascribed to comparable companies 100% Pathfinder Bank had the following assets measured at fair value on a nonrecurring basis as of June 30, 2018 and December 31, 2017: June 30, 2018 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Impaired loans $ - $ - $ 1,832 $ 1,832 Foreclosed real estate $ - $ - $ 61 $ 61 December 31, 2017 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Impaired loans $ - $ - $ 4,887 $ 4,887 Foreclosed real estate $ - $ - $ 434 $ 434 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were used to determine fair value at the indicated dates. Quantitative Information about Level 3 Fair Value Measurements Valuation Unobservable Range Techniques Input (Weighted Avg.) At June 30, 2018 Impaired loans Appraisal of collateral Appraisal Adjustments 5% - 10% (5%) (Sales Approach) Costs to Sell 7% - 13% (11%) Discounted Cash Flow Foreclosed real estate Appraisal of collateral Appraisal Adjustments 15% - 15% (15%) (Sales Approach) Costs to Sell 6% - 8% (7%) Quantitative Information about Level 3 Fair Value Measurements Valuation Unobservable Range Techniques Input (Weighted Avg.) At December 31, 2017 Impaired loans Appraisal of collateral Appraisal Adjustments 5% - 30% (9%) (Sales Approach) Costs to Sell 7% - 13% (11%) Discounted Cash Flow Foreclosed real estate Appraisal of collateral Appraisal Adjustments 15% - 15% (15%) (Sales Approach) Costs to Sell 6% - 8% (7%) The Company owns a small percentage of the common stock of a single, otherwise unaffiliated, financial institution with a fair market value of $541,000 at June 30, 2018. This financial institution had been recently formed, was relatively limited in the scope of its business activities, and was relatively small in asset size at the time the shares of common stock were initially acquired by the Company. The shares of this financial institution are not, and have never been, listed on any public stock exchange. Through December 31, 2017, the Company determined the fair market value of these shares using Level 3 methodologies. The relatively unique characteristics of the institution precluded the use of significant inputs and value drivers observable in active markets through that date. During the three months ended March 31, 2018, the Company’s management reevaluated the fair value methodology it had previously used with respect to this investment and determined that the institution’s increased size and current business activities had become reasonably comparable over time with applicable peer institutions. Consequently, relevant significant inputs and value drivers observable in active markets were deemed to be present and available beginning with the three months ended March 31, 2018. Accordingly, the Company transferred this asset from Level 3 to Level 2 at March 31, 2018 for purposes of the accompanying fair value disclosure. The investment was valued using Level 2 methodologies at June 30, 2018 and it is expected to be valued using Level 2 methodologies prospectively. There have been no transfers of assets into or out of any fair value measurement during the three months ended June 30, 2018. Required disclosures include fair value information of financial instruments, whether or not recognized in the consolidated statement of condition, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. The Company has various processes and controls in place to ensure that fair value is reasonably estimated. The Company performs due diligence procedures over third-party pricing service providers in order to support their use in the valuation process. While the Company believes its 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. Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective period-ends, and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period-end. FASB ASC Topic 820 for Fair Value Measurements and Disclosures, the financial assets and liabilities were valued at a price that represents the Company’s exit price or the price at which these instruments would be sold or transferred. The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The Company, in estimating its fair value disclosures for financial instruments, used the following methods and assumptions: Cash and cash equivalents – The carrying amounts of these assets approximate their fair value and are classified as Level 1. Investment securities – The fair values of available-for-sale, held-to-maturity and marketable equity securities are obtained from an independent third party and are based on quoted prices on nationally recognized exchange where available (Level 1). If quoted prices are not available, fair values are measured by utilizing matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). Management made no adjustment to the fair value quotes that were received from the independent third party pricing service. Level 3 securities are assets whose Federal Home Loan Bank stock – The carrying amount of these assets approximates their fair value and are classified as Level 2. Net loans – For variable-rate loans that re-price frequently, fair value is based on carrying amounts. The fair value of other loans (for example, fixed-rate commercial real estate loans, mortgage loans, and commercial and industrial loans) is estimated using discounted cash flow analysis, based on interest rates currently being offered in the market for loans with similar terms to borrowers of similar credit quality. Loan value estimates include judgments based on expected prepayment rates. The measurement of the fair value of loans, including impaired loans, is classified within Level 3 of the fair value hierarchy. Accrued interest receivable and payable – The carrying amount of these assets approximates their fair value and are classified as Level 1. Deposits – The fair values disclosed for demand deposits (e.g., interest-bearing and noninterest-bearing checking, passbook savings and certain types of money management accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts) and are classified within Level 1 of the fair value hierarchy. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates of deposits to a schedule of aggregated expected monthly maturities on time deposits. Measurements of the fair value of time deposits are classified within Level 2 of the fair value hierarchy. Borrowings – Fixed/variable term “bullet” structures are valued using a replacement cost of funds approach. These borrowings are discounted to the FHLBNY advance curve. Option structured borrowings’ fair values are determined by the FHLB for borrowings that include a call or conversion option. If market pricing is not available from this source, current market indications from the FHLBNY are obtained and the borrowings are discounted to the FHLBNY advance curve less an appropriate spread to adjust for the option. These measurements are classified as Level 2 within the fair value hierarchy. Subordinated loans – The Company secures quotes from its pricing service based on a discounted cash flow methodology or utilizes observations of recent highly-similar transactions which result in a Level 2 classification. The carrying amounts and fair values of the Company’s financial instruments as of the indicated dates are presented in the following table: June 30, 2018 December 31, 2017 Fair Value Carrying Estimated Carrying Estimated (In thousands) Hierarchy Amounts Fair Values Amounts Fair Values Financial assets: Cash and cash equivalents 1 $ 36,740 $ 36,740 $ 21,991 $ 21,991 Investment securities - available-for-sale 2 184,030 184,030 170,623 170,623 Investment securities - available-for-sale 3 - - 515 515 Investment securities - marketable equity 2 541 541 - - Investment securities - held-to-maturity 2 26,647 26,244 66,196 66,426 Federal Home Loan Bank stock 2 4,388 4,388 3,855 3,855 Net loans 3 599,580 587,127 573,705 570,439 Accrued interest receivable 1 2,725 2,725 3,047 3,047 Financial liabilities: Demand Deposits, Savings, NOW and MMDA 1 $ 507,549 $ 507,549 $ 510,176 $ 510,176 Time Deposits 2 225,620 223,874 213,427 212,453 Borrowings 2 84,103 83,704 73,888 73,575 Subordinated loans 2 15,076 14,793 15,059 14,953 Accrued interest payable 1 255 255 186 186 |
Interest Rate Derivatives
Interest Rate Derivatives | 6 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Interest Rate Derivatives | Note 11: Interest Rate Derivatives Derivative instruments are entered into by the Company primarily as a risk management tool. Financial derivatives are recorded at fair value as other liabilities. The accounting for changes in the fair value of a derivative depends on whether it has been designated and qualifies as part of a hedging relationship. For a fair value hedge, changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability are recognized currently in earnings. For a cash flow hedge, changes in the fair value of the derivative instrument, to the extent that it is effective, are recorded in other comprehensive income and subsequently reclassified to earnings as the hedged transaction impacts net income. Any ineffective portion of a cash flow hedge is recognized currently in earnings. On four occasions during the first half of 2017, the Company sold, and subsequently repurchased, a U.S. Treasury security in the approximate amount of $40.0 million for each transaction. These transactions were intended to act as hedges against rising short-term interest rates. The Company was in controlling possession of, but did not own, the securities at the time of each sale. The securities had been received by the Company, under industry-standard repurchase agreements, from an unrelated third party as collateral for a series of 30-day loans of approximately $40.0 million on each occasion which were made at market rates of interest to that third party. The security sale on each occasion provided the funds necessary to advance the loan to the third party and placed the Company in what is generally described as a “short position” with respect to the sold U.S. Treasury security. These transactions acted as a hedge against rising short-term interest rates because the price of each sold security would be expected to decline in a rising short-term interest rate environment and could therefore be re-acquired at the conclusion of each 30-day loan period at a price lower than the price at which the security was originally sold. Short-term rates rose over the combined duration of these transactions and, consequently, the Company recognized aggregate gains on the sale and repurchase of the securities in the amounts of $156,000 and $250,000 for the three and six months ended June 30, 2017, respectively. The transactions’ gains were characterized as capital gains for tax purposes. These capital gains utilized existing, previously reserved-for, capital loss tax carryforwards that were established in 2013. The Company recognized tax benefits related to these transactions of $60,000 and $96,000 for the three and six months ended June 30, 2017, respectively. The tax benefits arose from the reversal of reserves established in 2013 against the portion of the Company’s deferred tax asset related to existing capital loss carryforward positions. The reserves were originally established due to the uncertainty of the Company’s ability to generate future capital gain income within the five-year statutory life of the capital loss carryforward position under the Internal Revenue Code. The recognized tax benefit from the reversal of those reserves reduced the Company’s effective tax rate from what would have been The capital gain income and the additional recognized tax benefits derived from these transactions during the three months ended June 30, 2017, were partially offset by an additional $137,000 in after-tax interest expense on borrowings derived from additional pre-tax interest expense on those borrowings of $222,000 that reduced pretax net interest margin by that amount in the three-month period. The capital gain income and the additional recognized tax benefits derived from these transactions were partially offset by an additional $266,000 in after-tax interest expense on borrowings derived from additional pre-tax interest expense on borrowings of $430,000 that reduced pretax net interest margin by that amount in the six-month period. In total, after-tax net income increased by $79,000 and $80,000 for the three and six months ended June 30, 2017, respectively, as a result of these hedging transactions. The Company did not have any hedging activities in the first half of 2018. The Company adopted ASU 2017-12: Derivatives and Hedging [Topic 815]: Targeted Improvements to Accounting for Hedging Activities, |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2018 | |
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Note 12: Accumulated Other Comprehensive Income (Loss) Changes in the components of accumulated other comprehensive income (loss) (“AOCI”), net of tax, for the periods indicated are summarized in the table below. For the three months ended June 30, 2018 (In thousands) Retirement Plans Unrealized Gains and Losses on Available- for-Sale Securities Unrealized Loss on Securities Transferred to Held-to-Maturity Total Beginning balance $ (2,188 ) $ (2,410 ) $ (414 ) $ (5,012 ) Other comprehensive income before reclassifications - (854 ) 347 (507 ) Amounts reclassified from AOCI 32 16 - 48 Ending balance $ (2,156 ) $ (3,248 ) $ (67 ) $ (5,471 ) For the three months ended June 30, 2017 (In thousands) Retirement Plans Unrealized Gains and Losses on Available- for-Sale Securities Unrealized Loss on Securities Transferred to Held-to-Maturity Total Beginning balance $ (1,490 ) $ (1,275 ) $ (442 ) $ (3,207 ) Other comprehensive income before reclassifications - 832 13 845 Amounts reclassified from AOCI 22 (80 ) - (58 ) Ending balance $ (1,468 ) $ (523 ) $ (429 ) $ (2,420 ) For the six months ended June 30, 2018 (In thousands) Retirement Plans Unrealized Gains and Losses on Available- for-Sale Securities Unrealized Loss on Securities Transferred to Held-to-Maturity Total Beginning balance $ (2,220 ) $ (1,558 ) $ (430 ) $ (4,208 ) Other comprehensive income before reclassifications - (1,848 ) 120 (1,728 ) Amounts reclassified from AOCI 64 95 - 159 Cumulative effect of change in measurement of equity securities (1) - (53 ) - (53 ) Cumulative effect of change in investment securities transfer (2) - 116 243 359 Ending balance $ (2,156 ) $ (3,248 ) $ (67 ) $ (5,471 ) (1) Cumulative effect of unrealized gain on marketable equity securities based on the adoption of ASU 2016-01 - Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities. (2) Cumulative effect of unrealized gains on the transfer of 52 investment securities from held-to-maturity classification to available-for-sale classification based on the adoption of ASU 2017-12: Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. For the six months ended June 30, 2017 (In thousands) Retirement Plans Unrealized Gains and Losses on Available- for-Sale Securities Securities reclassified from AFS to HTM Total Beginning balance $ (1,513 ) $ (1,845 ) $ (464 ) $ (3,822 ) Other comprehensive income before reclassifications - 1,445 35 1,480 Amounts reclassified from AOCI 45 (123 ) - (78 ) Ending balance $ (1,468 ) $ (523 ) $ (429 ) $ (2,420 ) The following table presents the amounts reclassified out of each component of AOCI for the indicated period: Amount Reclassified Amount Reclassified from AOCI (1) from AOCI 1 (Unaudited) (Unaudited) (In thousands) For the three months ended For the six months ended Details about AOCI (1) June 30, 2018 June 30, 2017 Affected Line Item in the Statement of Income June 30, 2018 June 30, 2017 Retirement plan items Retirement plan net losses recognized in plan expenses (2) $ (43 ) $ (37 ) Salaries and employee benefits $ (86 ) $ (73 ) Tax effect 11 15 Provision for income taxes 22 28 $ (32 ) $ (22 ) Net Income $ (64 ) $ (45 ) Available-for-sale securities Realized gain on sale of securities $ (22 ) $ 135 Net gains on sales and redemptions of investment securities $ (129 ) $ 206 Tax effect 6 (55 ) Provision for income taxes 34 (83 ) $ (16 ) $ 80 Net Income $ (95 ) $ 123 (1) Amounts in parentheses indicates debits in net income. (2) These items are included in net periodic pension cost. See Note 5 for additional information. |
Noninterest Income
Noninterest Income | 6 Months Ended |
Jun. 30, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Noninterest Income | Note 13: Noninterest Income The Company adopted the revenue recognition guidance effective January 1, 2018, and applied the new accounting guidance using a modified retrospective approach for reporting purposes. A significant amount of the Company’s revenues are derived from net interest income on financial assets and liabilities, which are excluded from the scope of the amended guidance. The Company recognizes revenue as it is earned. The adoption of ASU 2014-09 required that credit card interchange revenue be presented net of rewards expense in noninterest income. For the three months ended June 30, 2018 and 2017, the Company recognized credit cards reward program expense as a reduction of noninterest income in the amounts of $24,000 and $13,000, respectively. For the six months ended June 30, 2018 and 2017, the Company recognized credit cards reward program expense as a reduction of noninterest income in the amounts of $38,000 and $39,000, respectively. The Company has included the following table regarding the Company’s noninterest income for the periods presented. For the three months For the six months ended June 30, ended June 30, (In thousands) 2018 2017 2018 2017 Service fees Insufficient funds fees $ 200 $ 205 $ 400 $ 394 Deposit related fees 48 44 99 95 ATM fees 25 25 48 48 Total service fees 273 274 547 537 Fee Income Insurance commissions 234 234 460 451 Investment services revenue 83 65 149 146 ATM fees surcharge 61 60 106 106 Banking house rents collected 36 31 66 55 Total fee income 414 390 781 758 Card income Debit card interchange fees 148 147 291 268 Merchant card fees 20 12 33 25 Total card income 168 159 324 293 Mortgage fee income and realized gain on sale of loans and foreclosed real estate Loan servicing fees 42 32 83 68 Net gains (losses) on sales of loans and foreclosed real estate 13 (21 ) 16 (45 ) Total mortgage fee income and realized gain on sale of loans and foreclosed real estate 55 11 99 23 Total 910 834 1,751 1,611 Earnings and gain on bank owned life insurance 108 62 181 133 Net (losses) gains on sales and redemptions of investment securities (22 ) 135 (129 ) 206 Gains on equity securities 13 - 26 - Other miscellaneous income 15 19 90 37 Total noninterest income $ 1,024 $ 1,050 $ 1,919 $ 1,987 The following is a discussion of key revenues within the scope of the new revenue guidance: • Service fees – Revenue is earned through insufficient funds fees, customer initiated activities or passage of time for deposit related fees, and ATM service fees. Transaction-based fees are recognized as the time the transaction is executed, which is the same time the Company’s performance obligation is satisfied. Account maintenance fees are earned over the course of the month as the monthly maintenance performance obligation to the customer is satisfied. • Fee income – Revenue is earned through commissions on insurance, investment products and investment advisory services, ATM surcharge fees, and banking house rents collected. The Company earns investment advisory services fee income by providing investment management services to customers under investment management contracts. As investment management services are provided over time, the performance obligation to customers is satisfied over time, and therefore, revenue is recognized over time. • Card income – Card income consists of interchange fees from consumer debit card networks and other related services. Interchange rates are set by the card networks. Interchange fees are based on purchase volumes and other factors and are recognized as transactions occur. • Mortgage fee income and realized gain on sale of loans and foreclosed real estate – Revenue from mortgage fee income and realized gain on sale of loans and foreclosed real estate is earned through the origination of residential and commercial mortgage loans, sales of one-to-four family residential mortgage loans and sales of foreclosed real estate, and is earned as the individual transactions occur. |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Calculations of Basic and Diluted Earnings per Share | The following table sets forth the calculation of basic and diluted earnings per share. Three months ended Six months ended June 30, June 30, (In thousands, except per share data) 2018 2017 2018 2017 Basic Earnings Per Common Share Net income available to common shareholders $ 945 $ 920 $ 1,949 $ 1,720 Weighted average common shares outstanding 4,157 4,074 4,138 4,063 Basic earnings per common share $ 0.23 $ 0.23 $ 0.47 $ 0.42 Diluted Earnings Per Common Share Net income available to common shareholders $ 945 $ 920 $ 1,949 $ 1,720 Weighted average common shares outstanding 4,157 4,074 4,138 4,063 Effect of assumed exercise of stock options 99 109 108 105 Diluted weighted average common shares outstanding 4,256 4,183 4,246 4,168 Diluted earnings per common share $ 0.22 $ 0.22 $ 0.46 $ 0.41 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Value of Investment Securities | The amortized cost and estimated fair value of investment securities are summarized as follows: June 30, 2018 Gross Gross Estimated Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 21,256 $ - $ (221 ) $ 21,035 State and political subdivisions 28,659 67 (738 ) 27,988 Corporate 13,148 158 (301 ) 13,005 Asset backed securities 10,845 3 (63 ) 10,785 Residential mortgage-backed - US agency 34,000 21 (988 ) 33,033 Collateralized mortgage obligations - US agency 60,087 8 (1,975 ) 58,120 Collateralized mortgage obligations - Private label 20,227 18 (386 ) 19,859 Total 188,222 275 (4,672 ) 183,825 Equity investment securities: Common stock - financial services industry 205 - - 205 Total 205 - - 205 Total available-for-sale $ 188,427 $ 275 $ (4,672 ) $ 184,030 Held-to-Maturity Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 3,982 $ - $ (44 ) $ 3,938 State and political subdivisions 5,309 27 (83 ) 5,253 Corporate 6,306 2 (217 ) 6,091 Residential mortgage-backed - US agency 3,813 - (78 ) 3,735 Collateralized mortgage obligations - US agency 4,341 9 (24 ) 4,326 Collateralized mortgage obligations - Private label 2,896 16 (11 ) 2,901 Total held-to-maturity $ 26,647 $ 54 $ (457 ) $ 26,244 December 31, 2017 Gross Gross Estimated Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 41,489 $ 1 $ (154 ) $ 41,336 State and political subdivisions 13,960 12 (291 ) 13,681 Corporate 8,584 108 (92 ) 8,600 Asset backed securities 6,662 12 (30 ) 6,644 Residential mortgage-backed - US agency 36,214 23 (495 ) 35,742 Collateralized mortgage obligations - US agency 54,481 - (1,133 ) 53,348 Collateralized mortgage obligations - Private label 11,193 62 (203 ) 11,052 Total 172,583 218 (2,398 ) 170,403 Equity investment securities: Common stock - financial services industry 663 72 - 735 Total 663 72 - 735 Total available-for-sale $ 173,246 $ 290 $ (2,398 ) $ 171,138 Held-to-Maturity Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 4,948 $ 14 $ (14 ) $ 4,948 State and political subdivisions 35,130 641 (311 ) 35,460 Corporate 8,311 151 (159 ) 8,303 Residential mortgage-backed - US agency 6,853 53 (10 ) 6,896 Collateralized mortgage obligations - US agency 7,574 83 (215 ) 7,442 Collateralized mortgage obligations - Private label 3,380 7 (10 ) 3,377 Total held-to-maturity $ 66,196 $ 949 $ (719 ) $ 66,426 |
Amortized Cost and Estimated Fair Value of Debt Investments by Contractual Maturity | The amortized cost and estimated fair value of debt investments at June 30, 2018 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Available-for-Sale Held-to-Maturity Amortized Estimated Amortized Estimated (In thousands) Cost Fair Value Cost Fair Value Due in one year or less $ 8,236 $ 8,215 $ 1,211 $ 1,207 Due after one year through five years 25,042 24,758 6,503 6,474 Due after five years through ten years 18,331 18,081 4,940 4,864 Due after ten years 22,299 21,759 2,943 2,737 Sub-total 73,908 72,813 15,597 15,282 Residential mortgage-backed - US agency 34,000 33,033 3,813 3,735 Collateralized mortgage obligations - US agency 60,087 58,120 4,341 4,326 Collateralized mortgage obligations - Private label 20,227 19,859 2,896 2,901 Totals $ 188,222 $ 183,825 $ 26,647 $ 26,244 |
Investment Securities' Gross Unrealized Losses and Fair Value by Investment Category and Length of Time that Individual Securities Have Continuous Unrealized Loss Position | The Company’s investment securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: June 30, 2018 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (Dollars in thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale Portfolio US Treasury, agencies and GSE's 4 $ (206 ) $ 15,031 2 $ (15 ) $ 5,984 6 $ (221 ) $ 21,015 State and political subdivisions 18 (186 ) 9,113 15 (552 ) 10,486 33 (738 ) 19,599 Corporate 7 (134 ) 5,062 2 (167 ) 1,640 9 (301 ) 6,702 Asset backed securities 5 (63 ) 5,939 - - - 5 (63 ) 5,939 Residential mortgage-backed - US agency 19 (452 ) 20,238 9 (536 ) 10,054 28 (988 ) 30,292 Collateralized mortgage obligations - US agency 15 (365 ) 22,610 23 (1,610 ) 27,986 38 (1,975 ) 50,596 Collateralized mortgage obligations - Private label 7 (278 ) 13,833 3 (108 ) 3,229 10 (386 ) 17,062 Totals 75 $ (1,684 ) $ 91,826 54 $ (2,988 ) $ 59,379 129 $ (4,672 ) $ 151,205 Held-to-Maturity Portfolio US Treasury, agencies and GSE's 3 $ (20 ) $ 2,963 1 $ (24 ) $ 976 4 $ (44 ) $ 3,939 State and political subdivisions 5 (8 ) 1,071 3 (75 ) 1,986 8 (83 ) 3,057 Corporate 2 (37 ) 1,278 1 (180 ) 2,048 3 (217 ) 3,326 Residential mortgage-backed - US agency 6 (78 ) 3,735 - - - 6 (78 ) 3,735 Collateralized mortgage obligations - US agency 2 (24 ) 2,379 - - - 2 (24 ) 2,379 Collateralized mortgage obligations - Private label - - - 1 (11 ) 949 1 (11 ) 949 Totals 18 $ (167 ) $ 11,426 6 $ (290 ) $ 5,959 24 $ (457 ) $ 17,385 December 31, 2017 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (Dollars in thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale Portfolio US Treasury, agencies and GSE's 5 $ (105 ) $ 27,359 4 $ (49 ) $ 13,957 9 $ (154 ) $ 41,316 State and political subdivisions 18 (24 ) 2,480 12 (267 ) 5,041 30 (291 ) 7,521 Corporate 2 (19 ) 1,791 1 (73 ) 1,727 3 (92 ) 3,518 Asset backed securities 2 (17 ) 3,123 1 (13 ) 742 3 (30 ) 3,865 Residential mortgage-backed - US agency 15 (159 ) 21,551 9 (336 ) 10,463 24 (495 ) 32,014 Collateralized mortgage obligations - US agency 14 (195 ) 23,790 21 (938 ) 25,395 35 (1,133 ) 49,185 Collateralized mortgage obligations - Private label 4 (203 ) 7,439 - - - 4 (203 ) 7,439 Totals 60 $ (722 ) $ 87,533 48 $ (1,676 ) $ 57,325 108 $ (2,398 ) $ 144,858 Held-to-Maturity Portfolio US Treasury, agencies and GSE's 2 $ (2 ) $ 1,990 1 $ (12 ) $ 988 3 $ (14 ) $ 2,978 State and political subdivisions 8 (55 ) 5,668 11 (256 ) 8,644 19 (311 ) 14,312 Corporate 3 (10 ) 1,412 1 (149 ) 2,087 4 (159 ) 3,499 Residential mortgage-backed - US agency 2 (10 ) 1,909 - - - 2 (10 ) 1,909 Collateralized mortgage obligations - US agency 2 (215 ) 4,418 - - - 2 (215 ) 4,418 Collateralized mortgage obligations - Private label 1 (10 ) 1,119 - - - 1 (10 ) 1,119 Totals 18 $ (302 ) $ 16,516 13 $ (417 ) $ 11,719 31 $ (719 ) $ 28,235 |
Gross Realized Gains (Losses) on Sale of Securities | Gross realized gains (losses) on sales of securities for the indicated periods are detailed below: For the three months For the six months ended June 30, ended June 30, (In thousands) 2018 2017 2018 2017 Realized gains on investments $ 133 $ 70 $ 160 $ 148 Realized gains on hedging activity - 156 - 250 Realized losses on investments (155 ) (91 ) (289 ) (192 ) $ (22 ) $ 135 $ (129 ) $ 206 Gains on equity securities 13 - 26 - $ 13 $ - $ 26 $ - |
Pension and Postretirement Be24
Pension and Postretirement Benefits (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Compensation And Retirement Disclosure [Abstract] | |
Composition of Net Periodic Pension and Postretirement Plan Costs | The composition of net periodic pension plan and postretirement plan costs for the indicated periods is as follows: Pension Benefits Postretirement Benefits Pension Benefits Postretirement Benefits For the three months ended June 30, For the six months ended June 30, (In thousands) 2018 2017 2018 2017 2018 2017 2018 2017 Service cost $ - $ - $ - $ - $ - $ - $ - $ - Interest cost 118 118 6 2 236 237 11 4 Expected return on plan assets (259 ) (236 ) - - (518 ) (473 ) - - Amortization of prior service credits - - (1 ) - - - (2 ) - Amortization of net losses/(gains) 41 39 3 (2 ) 82 77 6 (4 ) Net periodic benefit plan (benefit) cost $ (100 ) $ (79 ) $ 8 $ - $ (200 ) $ (159 ) $ 15 $ - |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Major Classification of Loans | Major classifications of loans at the indicated dates are as follows: June 30, December 31, (In thousands) 2018 2017 Residential mortgage loans: 1-4 family first-lien residential mortgages $ 225,864 $ 216,793 Construction 3,288 5,558 Total residential mortgage loans 229,152 222,351 Commercial loans: Real estate 206,960 192,525 Lines of credit 49,314 51,285 Other commercial and industrial 58,742 50,097 Tax exempt loans 9,860 10,405 Total commercial loans 324,876 304,312 Consumer loans: Home equity and junior liens 26,262 25,935 Other consumer 27,037 28,646 Total consumer loans 53,299 54,581 Total loans 607,327 581,244 Net deferred loan fees (142 ) (413 ) Less allowance for loan losses (7,605 ) (7,126 ) Loans receivable, net $ 599,580 $ 573,705 |
Summary of Classes of Loan Portfolio | The following tables present the classes of the loan portfolio, not including net deferred loan costs, summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of the dates indicated: As of June 30, 2018 Special (In thousands) Pass Mention Substandard Doubtful Total Residential mortgage loans: 1-4 family first-lien residential mortgages $ 221,719 $ 485 $ 1,284 $ 2,376 $ 225,864 Construction 3,288 - - - 3,288 Total residential mortgage loans 225,007 485 1,284 2,376 229,152 Commercial loans: Real estate 201,733 1,533 1,913 1,781 206,960 Lines of credit 48,941 164 169 40 49,314 Other commercial and industrial 57,411 407 628 296 58,742 Tax exempt loans 9,860 - - - 9,860 Total commercial loans 317,945 2,104 2,710 2,117 324,876 Consumer loans: Home equity and junior liens 25,906 127 140 89 26,262 Other consumer 26,864 161 12 - 27,037 Total consumer loans 52,770 288 152 89 53,299 Total loans $ 595,722 $ 2,877 $ 4,146 $ 4,582 $ 607,327 As of December 31, 2017 Special (In thousands) Pass Mention Substandard Doubtful Total Residential mortgage loans: 1-4 family first-lien residential mortgages $ 211,825 $ 891 $ 1,869 $ 2,208 $ 216,793 Construction 5,558 - - - 5,558 Total residential mortgage loans 217,383 891 1,869 2,208 222,351 Commercial loans: Real estate 187,073 1,372 2,024 2,056 192,525 Lines of credit 50,507 195 523 60 51,285 Other commercial and industrial 48,738 407 532 420 50,097 Tax exempt loans 10,405 - - - 10,405 Total commercial loans 296,723 1,974 3,079 2,536 304,312 Consumer loans: Home equity and junior liens 25,396 61 304 174 25,935 Other consumer 28,584 55 7 - 28,646 Total consumer loans 53,980 116 311 174 54,581 Total loans $ 568,086 $ 2,981 $ 5,259 $ 4,918 $ 581,244 |
Age Analysis of Past Due Loans Segregated by Portfolio Segment and Class of Loans | An age analysis of past due loans, not including net deferred loan costs, segregated by portfolio segment and class of loans, as of June 30, 2018 and December 31, 2017, are detailed in the following tables: As of June 30, 2018 30-59 Days 60-89 Days 90 Days Past Due Past Due and Total Total Loans (In thousands) And Accruing And Accruing Over Past Due Current Receivable Residential mortgage loans: 1-4 family first-lien residential mortgages $ 1,095 $ 87 $ 2,090 $ 3,272 $ 222,592 $ 225,864 Construction - - - - 3,288 3,288 Total residential mortgage loans 1,095 87 2,090 3,272 225,880 229,152 Commercial loans: Real estate 54 387 2,469 2,910 204,050 206,960 Lines of credit 161 17 133 311 49,003 49,314 Other commercial and industrial 100 9 550 659 58,083 58,742 Tax exempt loans - 238 - 238 9,622 9,860 Total commercial loans 315 651 3,152 4,118 320,758 324,876 Consumer loans: Home equity and junior liens 55 10 140 205 26,057 26,262 Other consumer 107 64 63 234 26,803 27,037 Total consumer loans 162 74 203 439 52,860 53,299 Total loans $ 1,572 $ 812 $ 5,445 $ 7,829 $ 599,498 $ 607,327 As of December 31, 2017 30-59 Days 60-89 Days 90 Days Past Due Past Due and Total Total Loans (In thousands) And Accruing And Accruing Over Past Due Current Receivable Residential mortgage loans: 1-4 family first-lien residential mortgages $ 1,196 $ 925 $ 2,088 $ 4,209 $ 212,584 $ 216,793 Construction - - - - 5,558 5,558 Total residential mortgage loans 1,196 925 2,088 4,209 218,142 222,351 Commercial loans: Real estate 720 2,056 1,545 4,321 188,204 192,525 Lines of credit 1,482 31 132 1,645 49,640 51,285 Other commercial and industrial 575 60 766 1,401 48,696 50,097 Tax exempt loans - - - - 10,405 10,405 Total commercial loans 2,777 2,147 2,443 7,367 296,945 304,312 Consumer loans: Home equity and junior liens 94 74 300 468 25,467 25,935 Other consumer 192 50 63 305 28,341 28,646 Total consumer loans 286 124 363 773 53,808 54,581 Total loans $ 4,259 $ 3,196 $ 4,894 $ 12,349 $ 568,895 $ 581,244 |
Nonaccrual Loans Segregated by Class of Loan | Nonaccrual loans, segregated by class of loan, were as follows: June 30, December 31, (In thousands) 2018 2017 Residential mortgage loans: 1-4 family first-lien residential mortgages $ 2,090 $ 2,088 2,090 2,088 Commercial loans: Real estate 2,469 1,545 Lines of credit 133 132 Other commercial and industrial 550 766 3,152 2,443 Consumer loans: Home equity and junior liens 140 300 Other consumer 63 63 203 363 Total nonaccrual loans $ 5,445 $ 4,894 |
Troubled Debt Restructurings on Financing Receivables | The table below details a loan that has been modified as a TDR for the six months ended June 30, 2018. For the six months ended June 30, 2018 (In thousands) Number of loans Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Additional provision for loan losses Other commercial and industrial loans 1 $ 300 $ 300 $ - |
Summary of Impaired Loans Information by Portfolio Class | The following table summarizes impaired loan information by portfolio class at the indicated dates: June 30, 2018 December 31, 2017 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (In thousands) Investment Balance Allowance Investment Balance Allowance With no related allowance recorded: 1-4 family first-lien residential mortgages $ 872 $ 876 $ - $ 900 $ 909 $ - Commercial real estate 2,351 2,405 - 3,314 3,360 - Commercial lines of credit 162 162 - 507 507 - Other commercial and industrial 732 733 - 523 524 - Home equity and junior liens - - - 80 80 - With an allowance recorded: 1-4 family first-lien residential mortgages 972 972 111 958 958 210 Commercial real estate 2,179 2,179 596 2,186 2,187 320 Commercial lines of credit 47 47 47 40 40 40 Other commercial and industrial 306 306 276 525 525 391 Home equity and junior liens 207 207 141 210 210 142 Total: 1-4 family first-lien residential mortgages 1,844 1,848 111 1,858 1,867 210 Commercial real estate 4,530 4,584 596 5,500 5,547 320 Commercial lines of credit 209 209 47 547 547 40 Other commercial and industrial 1,038 1,039 276 1,048 1,049 391 Home equity and junior liens 207 207 141 290 290 142 Totals $ 7,828 $ 7,887 $ 1,171 $ 9,243 $ 9,300 $ 1,103 |
Average Recorded Investment In Impaired Loans | The following table presents the average recorded investment in impaired loans for the periods indicated: For the three months ended For the six months ended June 30, June 30, (In thousands) 2018 2017 2018 2017 1-4 family first-lien residential mortgages $ 1,846 $ 1,416 $ 1,850 $ 1,482 Commercial real estate 4,971 4,508 5,147 4,696 Commercial lines of credit 376 418 433 412 Other commercial and industrial 1,050 984 1,049 997 Home equity and junior liens 208 215 235 305 Total $ 8,451 $ 7,541 $ 8,714 $ 7,892 |
Cash Basis Interest Income Recognized On Impaired Loans | The following table presents the cash basis interest income recognized on impaired loans for the periods indicated: For the three months ended For the six months ended June 30, June 30, (In thousands) 2018 2017 2018 2017 1-4 family first-lien residential mortgages $ 14 $ 10 $ 32 $ 21 Commercial real estate 18 50 66 95 Commercial lines of credit 10 7 21 13 Other commercial and industrial 13 6 19 13 Home equity and junior liens 3 3 6 4 Total $ 58 $ 76 $ 144 $ 146 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Allowance For Loan Losses [Abstract] | |
Changes in the Allowance for Loan Losses | An allocation of a portion of the allowance to a given portfolio class does not limit the Company’s ability to absorb losses in another portfolio class. For the three months ended June 30, 2018 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for loan losses: Beginning Balance $ 751 $ - $ 3,895 $ 719 $ 1,309 Charge-offs (74 ) - - (50 ) (48 ) Recoveries - - - 66 - Provisions (credits) 45 - 246 (4 ) 10 Ending balance $ 722 $ - $ 4,141 $ 731 $ 1,271 Ending balance: related to loans individually evaluated for impairment 111 - 596 47 276 Ending balance: related to loans collectively evaluated for impairment $ 611 $ - $ 3,545 $ 684 $ 995 Loans receivables: Ending balance $ 225,864 $ 3,288 $ 206,960 $ 49,314 $ 58,742 Ending balance: individually evaluated for impairment 1,844 - 4,530 209 1,038 Ending balance: collectively evaluated for impairment $ 224,020 $ 3,288 $ 202,430 $ 49,105 $ 57,704 Home Other Tax exempt and junior liens Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1 $ 507 $ 260 $ 9 $ 7,451 Charge-offs - - (48 ) - (220 ) Recoveries - 1 10 - 77 Provisions (credits) - (74 ) 69 5 297 Ending balance $ 1 $ 434 $ 291 $ 14 $ 7,605 Ending balance: related to loans individually evaluated for impairment - 141 - - 1,171 Ending balance: related to loans collectively evaluated for impairment $ 1 $ 293 $ 291 $ 14 $ 6,434 Loans receivables: Ending balance $ 9,860 $ 26,262 $ 27,037 $ 607,327 Ending balance: individually evaluated for impairment - 207 - 7,828 Ending balance: collectively evaluated for impairment $ 9,860 $ 26,055 $ 27,037 $ 599,499 For the six months ended June 30, 2018 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for loan losses: Beginning Balance $ 865 $ - $ 3,589 $ 735 $ 1,214 Charge-offs (192 ) - - (50 ) (171 ) Recoveries 20 - - 66 - Provisions (credits) 29 - 552 (20 ) 228 Ending balance $ 722 $ - $ 4,141 $ 731 $ 1,271 Home equity Other Tax exempt and junior liens consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1 $ 514 $ 208 $ - $ 7,126 Charge-offs - (17 ) (111 ) - (541 ) Recoveries - 1 23 - 110 Provisions (credits) - (64 ) 171 14 910 Ending balance $ 1 $ 434 $ 291 $ 14 $ 7,605 For the three months ended June 30, 2017 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for loan losses: Beginning Balance $ 943 $ - $ 2,532 $ 365 $ 1,480 Charge-offs (143 ) - - - (1 ) Recoveries - - - - 13 Provisions 13 - 272 8 119 Ending balance $ 813 $ - $ 2,804 $ 373 $ 1,611 Ending balance: related to loans individually evaluated for impairment 193 - - 7 376 Ending balance: related to loans collectively evaluated for impairment $ 620 $ - $ 2,804 $ 366 $ 1,235 Loans receivables: Ending balance $ 204,117 $ 6,640 $ 175,737 $ 21,132 $ 74,375 Ending balance: individually evaluated for impairment 1,220 - 4,474 421 967 Ending balance: collectively evaluated for impairment $ 202,897 $ 6,640 $ 171,263 $ 20,711 $ 73,408 Home equity Other Tax exempt and junior liens Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1 $ 509 $ 133 $ 1 $ 5,964 Charge-offs - - (8 ) - (152 ) Recoveries - 1 9 - 23 Provisions (credits) - (17 ) 29 (1 ) 423 Ending balance $ 1 $ 493 $ 163 $ - $ 6,258 Ending balance: related to loans individually evaluated for impairment - 142 - - 718 Ending balance: related to loans collectively evaluated for impairment $ 1 $ 351 $ 163 $ - 5,540 Loans receivables: Ending balance $ 11,446 $ 25,257 $ 30,497 $ 549,201 Ending balance: individually evaluated for impairment - 214 - 7,296 Ending balance: collectively evaluated for impairment $ 11,446 $ 25,043 $ 30,497 $ 541,905 For the six months ended June 30, 2017 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for loan losses: Beginning Balance $ 759 $ - $ 2,935 $ 397 $ 1,658 Charge-offs (156 ) - (505 ) (53 ) (17 ) Recoveries 1 - - - 15 Provisions (credits) 209 - 374 29 (45 ) Ending balance $ 813 $ - $ 2,804 $ 373 $ 1,611 Home equity Other Tax exempt and junior liens consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1 $ 331 $ 166 $ - $ 6,247 Charge-offs - (69 ) (40 ) - (840 ) Recoveries - 1 22 - 39 Provisions - 230 15 - 812 Ending balance $ 1 $ 493 $ 163 $ - $ 6,258 |
Schedule of Allowance for Loan Losses on Basis of Calculation Methodology | The allocation of the allowance for loan losses summarized on the basis of the Company’s calculation methodology was as follows: June 30, 2018 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Specifically reserved $ 111 $ - $ 596 $ 47 $ 276 Historical loss rate 111 - 86 24 17 Qualitative factors 500 - 3,459 660 978 Total $ 722 $ - $ 4,141 $ 731 $ 1,271 Home equity Other Tax exempt and junior liens consumer Unallocated Total Specifically reserved $ - $ 141 $ - $ - $ 1,171 Historical loss rate - 24 112 - 374 Qualitative factors 1 269 179 - 6,046 Other - - - 14 14 Total $ 1 $ 434 $ 291 $ 14 $ 7,605 June 30, 2017 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Specifically reserved $ 193 $ - $ - $ 7 $ 376 Historical loss rate 75 - 105 39 24 Qualitative factors 545 - 2,699 327 1,211 Total $ 813 $ - $ 2,804 $ 373 $ 1,611 Home equity Other Tax exempt and junior liens consumer Unallocated Total Specifically reserved $ - $ 142 $ - $ - $ 718 Historical loss rate - 50 29 - 322 Qualitative factors 1 301 134 - 5,218 Total $ 1 $ 493 $ 163 $ - $ 6,258 |
Foreclosed Real Estate (Tables)
Foreclosed Real Estate (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Real Estate Owned Disclosure Of Detailed Components [Abstract] | |
Carrying Amount Of Foreclosed Residential Real Estate Properties Held | The Company is required to disclose the carrying amount of foreclosed residential real estate properties held as a result of obtaining physical possession of the property at each reporting period. (Dollars in thousands) Number of properties June 30, 2018 Number of properties December 31, 2017 Foreclosed residential real estate 4 $ 97 5 $ 468 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets on Recurring Basis Segregated by Level of Valuation Inputs | The following tables summarize assets measured at fair value on a recurring basis as of the indicated dates, segregated by the level of valuation inputs within the hierarchy utilized to measure fair value: June 30, 2018 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ - $ 21,035 $ - $ 21,035 State and political subdivisions - 27,988 - 27,988 Corporate - 13,005 - 13,005 Asset backed securities - 10,785 - 10,785 Residential mortgage-backed - US agency - 33,033 - 33,033 Collateralized mortgage obligations - US agency - 58,120 - 58,120 Collateralized mortgage obligations - Private label - 19,859 - 19,859 Equity investment securities: Common stock - Financial services industry - 205 205 Total available-for-sale securities $ - $ 184,030 $ - $ 184,030 Marketable equity securities $ - $ 541 $ - $ 541 December 31, 2017 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ - $ 41,336 $ - $ 41,336 State and political subdivisions - 13,681 - 13,681 Corporate - 8,600 - 8,600 Asset backed securities - 6,644 - 6,644 Residential mortgage-backed - US agency - 35,742 - 35,742 Collateralized mortgage obligations - US agency - 53,348 - 53,348 Collateralized mortgage obligations - Private label - 11,052 - 11,052 Equity investment securities: Common stock - Financial services industry - 220 515 735 Total available-for-sale securities $ - $ 170,623 $ 515 $ 171,138 |
Summary of Valuation Techniques and Significant Unobservable Inputs Used for Investments are Categorized Within Level 3 Fair Value Hierarchy | The following table summarizes the valuation techniques and significant unobservable inputs used for the Company's investments that are categorized within Level 3 of the fair value hierarchy at the indicated dates: (In thousands) At December 31, 2017 Investment Type Fair Value Valuation Techniques Unobservable Input Weight Common Stock - Financial Services Industry $ 515 Inputs to comparables Weight ascribed to comparable companies 100% |
Summary of Fair Value Assets Measured on Nonrecurring Basis | Pathfinder Bank had the following assets measured at fair value on a nonrecurring basis as of June 30, 2018 and December 31, 2017: June 30, 2018 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Impaired loans $ - $ - $ 1,832 $ 1,832 Foreclosed real estate $ - $ - $ 61 $ 61 December 31, 2017 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Impaired loans $ - $ - $ 4,887 $ 4,887 Foreclosed real estate $ - $ - $ 434 $ 434 |
Fair Value Inputs, Quantitative Information | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were used to determine fair value at the indicated dates. Quantitative Information about Level 3 Fair Value Measurements Valuation Unobservable Range Techniques Input (Weighted Avg.) At June 30, 2018 Impaired loans Appraisal of collateral Appraisal Adjustments 5% - 10% (5%) (Sales Approach) Costs to Sell 7% - 13% (11%) Discounted Cash Flow Foreclosed real estate Appraisal of collateral Appraisal Adjustments 15% - 15% (15%) (Sales Approach) Costs to Sell 6% - 8% (7%) Quantitative Information about Level 3 Fair Value Measurements Valuation Unobservable Range Techniques Input (Weighted Avg.) At December 31, 2017 Impaired loans Appraisal of collateral Appraisal Adjustments 5% - 30% (9%) (Sales Approach) Costs to Sell 7% - 13% (11%) Discounted Cash Flow Foreclosed real estate Appraisal of collateral Appraisal Adjustments 15% - 15% (15%) (Sales Approach) Costs to Sell 6% - 8% (7%) |
Carrying Amounts and Fair Value of Financial Instruments | The carrying amounts and fair values of the Company’s financial instruments as of the indicated dates are presented in the following table: June 30, 2018 December 31, 2017 Fair Value Carrying Estimated Carrying Estimated (In thousands) Hierarchy Amounts Fair Values Amounts Fair Values Financial assets: Cash and cash equivalents 1 $ 36,740 $ 36,740 $ 21,991 $ 21,991 Investment securities - available-for-sale 2 184,030 184,030 170,623 170,623 Investment securities - available-for-sale 3 - - 515 515 Investment securities - marketable equity 2 541 541 - - Investment securities - held-to-maturity 2 26,647 26,244 66,196 66,426 Federal Home Loan Bank stock 2 4,388 4,388 3,855 3,855 Net loans 3 599,580 587,127 573,705 570,439 Accrued interest receivable 1 2,725 2,725 3,047 3,047 Financial liabilities: Demand Deposits, Savings, NOW and MMDA 1 $ 507,549 $ 507,549 $ 510,176 $ 510,176 Time Deposits 2 225,620 223,874 213,427 212,453 Borrowings 2 84,103 83,704 73,888 73,575 Subordinated loans 2 15,076 14,793 15,059 14,953 Accrued interest payable 1 255 255 186 186 |
Accumulated Other Comprehensi29
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] | |
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax | Changes in the components of accumulated other comprehensive income (loss) (“AOCI”), net of tax, for the periods indicated are summarized in the table below. For the three months ended June 30, 2018 (In thousands) Retirement Plans Unrealized Gains and Losses on Available- for-Sale Securities Unrealized Loss on Securities Transferred to Held-to-Maturity Total Beginning balance $ (2,188 ) $ (2,410 ) $ (414 ) $ (5,012 ) Other comprehensive income before reclassifications - (854 ) 347 (507 ) Amounts reclassified from AOCI 32 16 - 48 Ending balance $ (2,156 ) $ (3,248 ) $ (67 ) $ (5,471 ) For the three months ended June 30, 2017 (In thousands) Retirement Plans Unrealized Gains and Losses on Available- for-Sale Securities Unrealized Loss on Securities Transferred to Held-to-Maturity Total Beginning balance $ (1,490 ) $ (1,275 ) $ (442 ) $ (3,207 ) Other comprehensive income before reclassifications - 832 13 845 Amounts reclassified from AOCI 22 (80 ) - (58 ) Ending balance $ (1,468 ) $ (523 ) $ (429 ) $ (2,420 ) For the six months ended June 30, 2018 (In thousands) Retirement Plans Unrealized Gains and Losses on Available- for-Sale Securities Unrealized Loss on Securities Transferred to Held-to-Maturity Total Beginning balance $ (2,220 ) $ (1,558 ) $ (430 ) $ (4,208 ) Other comprehensive income before reclassifications - (1,848 ) 120 (1,728 ) Amounts reclassified from AOCI 64 95 - 159 Cumulative effect of change in measurement of equity securities (1) - (53 ) - (53 ) Cumulative effect of change in investment securities transfer (2) - 116 243 359 Ending balance $ (2,156 ) $ (3,248 ) $ (67 ) $ (5,471 ) (1) Cumulative effect of unrealized gain on marketable equity securities based on the adoption of ASU 2016-01 - Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities. (2) Cumulative effect of unrealized gains on the transfer of 52 investment securities from held-to-maturity classification to available-for-sale classification based on the adoption of ASU 2017-12: Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. For the six months ended June 30, 2017 (In thousands) Retirement Plans Unrealized Gains and Losses on Available- for-Sale Securities Securities reclassified from AFS to HTM Total Beginning balance $ (1,513 ) $ (1,845 ) $ (464 ) $ (3,822 ) Other comprehensive income before reclassifications - 1,445 35 1,480 Amounts reclassified from AOCI 45 (123 ) - (78 ) Ending balance $ (1,468 ) $ (523 ) $ (429 ) $ (2,420 ) |
Schedule of Amounts Reclassified Out of Each Component of AOCI | The following table presents the amounts reclassified out of each component of AOCI for the indicated period: Amount Reclassified Amount Reclassified from AOCI (1) from AOCI 1 (Unaudited) (Unaudited) (In thousands) For the three months ended For the six months ended Details about AOCI (1) June 30, 2018 June 30, 2017 Affected Line Item in the Statement of Income June 30, 2018 June 30, 2017 Retirement plan items Retirement plan net losses recognized in plan expenses (2) $ (43 ) $ (37 ) Salaries and employee benefits $ (86 ) $ (73 ) Tax effect 11 15 Provision for income taxes 22 28 $ (32 ) $ (22 ) Net Income $ (64 ) $ (45 ) Available-for-sale securities Realized gain on sale of securities $ (22 ) $ 135 Net gains on sales and redemptions of investment securities $ (129 ) $ 206 Tax effect 6 (55 ) Provision for income taxes 34 (83 ) $ (16 ) $ 80 Net Income $ (95 ) $ 123 (1) Amounts in parentheses indicates debits in net income. (2) These items are included in net periodic pension cost. See Note 5 for additional information. |
Noninterest Income (Tables)
Noninterest Income (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Summary of Noninterest Income | The Company has included the following table regarding the Company’s noninterest income for the periods presented. For the three months For the six months ended June 30, ended June 30, (In thousands) 2018 2017 2018 2017 Service fees Insufficient funds fees $ 200 $ 205 $ 400 $ 394 Deposit related fees 48 44 99 95 ATM fees 25 25 48 48 Total service fees 273 274 547 537 Fee Income Insurance commissions 234 234 460 451 Investment services revenue 83 65 149 146 ATM fees surcharge 61 60 106 106 Banking house rents collected 36 31 66 55 Total fee income 414 390 781 758 Card income Debit card interchange fees 148 147 291 268 Merchant card fees 20 12 33 25 Total card income 168 159 324 293 Mortgage fee income and realized gain on sale of loans and foreclosed real estate Loan servicing fees 42 32 83 68 Net gains (losses) on sales of loans and foreclosed real estate 13 (21 ) 16 (45 ) Total mortgage fee income and realized gain on sale of loans and foreclosed real estate 55 11 99 23 Total 910 834 1,751 1,611 Earnings and gain on bank owned life insurance 108 62 181 133 Net (losses) gains on sales and redemptions of investment securities (22 ) 135 (129 ) 206 Gains on equity securities 13 - 26 - Other miscellaneous income 15 19 90 37 Total noninterest income $ 1,024 $ 1,050 $ 1,919 $ 1,987 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Details) | Jun. 30, 2018 |
Nature of Operations [Line Items] | |
Consolidation of membership interest in Fitzgibbons | 100.00% |
FitzGibbons Agency LLC [Member] | Pathfinder Risk Management Company Inc [Member] | |
Nature of Operations [Line Items] | |
Membership interest own in Fitzgibbons through subsidiary | 51.00% |
Noncontrolling interest by subsidiary | 49.00% |
New Accounting Pronouncements -
New Accounting Pronouncements - Additional Information (Details) | 3 Months Ended | |
Jun. 30, 2018USD ($)Security | Dec. 31, 2017USD ($) | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||
Aggregate amortized cost before transfer of held-to-maturity securities | $ 26,647,000 | $ 66,196,000 |
Lessee, Operating Lease, Term of Contract | 12 months | |
ASU 2017-12 [Member] | ||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||
Number of securities transferred | Security | 52 | |
Aggregate amortized cost before transfer of held-to-maturity securities | $ 35,200,000 | |
Decrease in accumulated other comprehensive loss | 359,000 | |
ASU 2016-02 [Member] | ||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||
Minimum lease payments under noncancelable operating lease agreements | 1,100,000 | |
Minimum lease payments receivable under noncancelable operating lease agreements | $ 1,000,000 |
Earnings per Common Share - Add
Earnings per Common Share - Additional Information (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive stock options (in shares) | 0 | 0 | 0 | 46,131 |
Earnings per Common Share - Cal
Earnings per Common Share - Calculations of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Basic Earnings Per Common Share [Abstract] | ||||
Net income available to common shareholders | $ 945 | $ 920 | $ 1,949 | $ 1,720 |
Weighted average common shares outstanding (in shares) | 4,157 | 4,074 | 4,138 | 4,063 |
Basic earnings per common share | $ 0.23 | $ 0.23 | $ 0.47 | $ 0.42 |
Diluted Earnings Per Common Share [Abstract] | ||||
Net income available to common shareholders | $ 945 | $ 920 | $ 1,949 | $ 1,720 |
Weighted average common shares outstanding (in shares) | 4,157 | 4,074 | 4,138 | 4,063 |
Effect of assumed exercise of stock options (in shares) | 99 | 109 | 108 | 105 |
Diluted weighted average common shares outstanding (in shares) | 4,256 | 4,183 | 4,246 | 4,168 |
Diluted earnings per common share | $ 0.22 | $ 0.22 | $ 0.46 | $ 0.41 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | $ 188,222 | |
Total investment securities, amortized cost basis | 188,427 | $ 173,246 |
Gross Unrealized Gains | 275 | 290 |
Gross Unrealized Losses | (4,672) | (2,398) |
Estimated Fair Value | 184,030 | 171,138 |
Held-to-maturity securities, debt maturities, Amortized Cost | 26,647 | 66,196 |
Held to maturity, gross unrealized gains | 54 | 949 |
Held to maturity, gross unrealized losses | (457) | (719) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 26,244 | 66,426 |
US Treasury, Agencies and GSEs [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 21,256 | 41,489 |
Gross Unrealized Gains, Debt investment securities | 0 | 1 |
Gross Unrealized Losses, Debt investment securities | (221) | (154) |
Available-for-sale Securities, Debt investment securities | 21,035 | 41,336 |
Held-to-maturity securities, debt maturities, Amortized Cost | 3,982 | 4,948 |
Held to maturity, gross unrealized gains | 0 | 14 |
Held to maturity, gross unrealized losses | (44) | (14) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 3,938 | 4,948 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 28,659 | 13,960 |
Gross Unrealized Gains, Debt investment securities | 67 | 12 |
Gross Unrealized Losses, Debt investment securities | (738) | (291) |
Available-for-sale Securities, Debt investment securities | 27,988 | 13,681 |
Held-to-maturity securities, debt maturities, Amortized Cost | 5,309 | 35,130 |
Held to maturity, gross unrealized gains | 27 | 641 |
Held to maturity, gross unrealized losses | (83) | (311) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 5,253 | 35,460 |
Corporate [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 13,148 | 8,584 |
Gross Unrealized Gains, Debt investment securities | 158 | 108 |
Gross Unrealized Losses, Debt investment securities | (301) | (92) |
Available-for-sale Securities, Debt investment securities | 13,005 | 8,600 |
Held-to-maturity securities, debt maturities, Amortized Cost | 6,306 | 8,311 |
Held to maturity, gross unrealized gains | 2 | 151 |
Held to maturity, gross unrealized losses | (217) | (159) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 6,091 | 8,303 |
Asset Backed Securities [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 10,845 | 6,662 |
Gross Unrealized Gains, Debt investment securities | 3 | 12 |
Gross Unrealized Losses, Debt investment securities | (63) | (30) |
Available-for-sale Securities, Debt investment securities | 10,785 | 6,644 |
Residential Mortgage-Backed - US Agency [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 34,000 | 36,214 |
Gross Unrealized Gains, Debt investment securities | 21 | 23 |
Gross Unrealized Losses, Debt investment securities | (988) | (495) |
Available-for-sale Securities, Debt investment securities | 33,033 | 35,742 |
Held-to-maturity securities, debt maturities, Amortized Cost | 3,813 | 6,853 |
Held to maturity, gross unrealized gains | 0 | 53 |
Held to maturity, gross unrealized losses | (78) | (10) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 3,735 | 6,896 |
Collateralized Mortgage Obligations - US Agency [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 60,087 | 54,481 |
Gross Unrealized Gains, Debt investment securities | 8 | 0 |
Gross Unrealized Losses, Debt investment securities | (1,975) | (1,133) |
Available-for-sale Securities, Debt investment securities | 58,120 | 53,348 |
Held-to-maturity securities, debt maturities, Amortized Cost | 4,341 | 7,574 |
Held to maturity, gross unrealized gains | 9 | 83 |
Held to maturity, gross unrealized losses | (24) | (215) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 4,326 | 7,442 |
Collateralized Mortgage Obligations - Private Label [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 20,227 | 11,193 |
Gross Unrealized Gains, Debt investment securities | 18 | 62 |
Gross Unrealized Losses, Debt investment securities | (386) | (203) |
Available-for-sale Securities, Debt investment securities | 19,859 | 11,052 |
Held-to-maturity securities, debt maturities, Amortized Cost | 2,896 | 3,380 |
Held to maturity, gross unrealized gains | 16 | 7 |
Held to maturity, gross unrealized losses | (11) | (10) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 2,901 | 3,377 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 188,222 | 172,583 |
Gross Unrealized Gains, Debt investment securities | 275 | 218 |
Gross Unrealized Losses, Debt investment securities | (4,672) | (2,398) |
Available-for-sale Securities, Debt investment securities | 183,825 | 170,403 |
Mutual funds Common Stock Financial Services Industry [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Amortized cost, equity securities | 205 | 663 |
Gross Unrealized Gains, Equity investment securities | 0 | 72 |
Gross Unrealized Losses, Equity investment securities | 0 | 0 |
Available-for-sale Securities, Equity investment securities | 205 | 735 |
Equity and Other Investments [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Amortized cost, equity securities | 205 | 663 |
Gross Unrealized Gains, Equity investment securities | 0 | 72 |
Gross Unrealized Losses, Equity investment securities | 0 | 0 |
Available-for-sale Securities, Equity investment securities | $ 205 | $ 735 |
Investment Securities - Amort36
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Investments by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Available-for-sale securities, debt maturities, amortized cost [Abstract] | ||
Due in one year or less | $ 8,236 | |
Due after one year through five years | 25,042 | |
Due after five years through ten years | 18,331 | |
Due after ten years | 22,299 | |
Sub-total | 73,908 | |
Amortized cost | 188,222 | |
Available-for-sale securities, debt maturities, Estimated Fair Value [Abstract] | ||
Due in one year or less | 8,215 | |
Due after one year through five years | 24,758 | |
Due after five years through ten years | 18,081 | |
Due after ten years | 21,759 | |
Sub-total | 72,813 | |
Available-for-sale securities, debt maturities, fair value, totals | 183,825 | |
Held-to-maturity Securities, debt maturities, amortized cost [Abstract] | ||
Due in one year or less | 1,211 | |
Due after one year through five years | 6,503 | |
Due after five years through ten years | 4,940 | |
Due after ten years | 2,943 | |
Sub-total | 15,597 | |
Held-to-maturity securities, debt maturities, Amortized Cost | 26,647 | $ 66,196 |
Held-to-maturity Securities, debt maturities, Estimated Fair Value [Abstract] | ||
Due in one year or less | 1,207 | |
Due after one year through five years | 6,474 | |
Due after five years through ten years | 4,864 | |
Due after ten years | 2,737 | |
Sub-total | 15,282 | |
Held-to-maturity securities at fair value | 26,244 | 66,426 |
Residential Mortgage-Backed - US Agency [Member] | ||
Available-for-sale securities, debt maturities, amortized cost [Abstract] | ||
Amortized cost | 34,000 | 36,214 |
Available-for-sale securities, debt maturities, Estimated Fair Value [Abstract] | ||
Available-for-sale securities, debt maturities, fair value, totals | 33,033 | |
Held-to-maturity Securities, debt maturities, amortized cost [Abstract] | ||
Held-to-maturity securities, debt maturities, Amortized Cost | 3,813 | 6,853 |
Held-to-maturity Securities, debt maturities, Estimated Fair Value [Abstract] | ||
Held-to-maturity securities at fair value | 3,735 | 6,896 |
Collateralized Mortgage Obligations - US Agency [Member] | ||
Available-for-sale securities, debt maturities, amortized cost [Abstract] | ||
Amortized cost | 60,087 | 54,481 |
Available-for-sale securities, debt maturities, Estimated Fair Value [Abstract] | ||
Available-for-sale securities, debt maturities, fair value, totals | 58,120 | |
Held-to-maturity Securities, debt maturities, amortized cost [Abstract] | ||
Held-to-maturity securities, debt maturities, Amortized Cost | 4,341 | 7,574 |
Held-to-maturity Securities, debt maturities, Estimated Fair Value [Abstract] | ||
Held-to-maturity securities at fair value | 4,326 | 7,442 |
Collateralized Mortgage Obligations - Private Label [Member] | ||
Available-for-sale securities, debt maturities, amortized cost [Abstract] | ||
Amortized cost | 20,227 | 11,193 |
Available-for-sale securities, debt maturities, Estimated Fair Value [Abstract] | ||
Available-for-sale securities, debt maturities, fair value, totals | 19,859 | |
Held-to-maturity Securities, debt maturities, amortized cost [Abstract] | ||
Held-to-maturity securities, debt maturities, Amortized Cost | 2,896 | 3,380 |
Held-to-maturity Securities, debt maturities, Estimated Fair Value [Abstract] | ||
Held-to-maturity securities at fair value | $ 2,901 | $ 3,377 |
Investment Securities - Investm
Investment Securities - Investment Securities' Gross Unrealized Losses and Fair Value by Investment Category and Length of Time that Individual Securities Have Continuous Unrealized Loss Position (Details) | Jun. 30, 2018USD ($)Security | Dec. 31, 2017USD ($)Security |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 18 | 18 |
Number of securities in unrealized loss positions, twelve months or more | Security | 6 | 13 |
Number of securities in unrealized loss positions | Security | 24 | 31 |
Less than twelve months Fair Value | $ 11,426,000 | $ 16,516,000 |
Twelve months or more Fair Value | 5,959,000 | 11,719,000 |
Total Fair Value | 17,385,000 | 28,235,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (167,000) | (302,000) |
Twelve months or more Unrealized Losses | (290,000) | (417,000) |
Total Unrealized Losses | $ (457,000) | $ (719,000) |
US Treasury, Agencies and GSEs [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 4 | 5 |
Number of securities in unrealized loss positions, twelve months or more | Security | 2 | 4 |
Number of securities in unrealized loss positions | Security | 6 | 9 |
Less than twelve months Fair Value | $ 15,031,000 | $ 27,359,000 |
Twelve months or more Fair Value | 5,984,000 | 13,957,000 |
Total Fair Value | 21,015,000 | 41,316,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (206,000) | (105,000) |
Twelve months or more Unrealized Losses | (15,000) | (49,000) |
Total Unrealized Losses | $ (221,000) | $ (154,000) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 3 | 2 |
Number of securities in unrealized loss positions, twelve months or more | Security | 1 | 1 |
Number of securities in unrealized loss positions | Security | 4 | 3 |
Less than twelve months Fair Value | $ 2,963,000 | $ 1,990,000 |
Twelve months or more Fair Value | 976,000 | 988,000 |
Total Fair Value | 3,939,000 | 2,978,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (20,000) | (2,000) |
Twelve months or more Unrealized Losses | (24,000) | (12,000) |
Total Unrealized Losses | $ (44,000) | $ (14,000) |
State and Political Subdivisions [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 18 | 18 |
Number of securities in unrealized loss positions, twelve months or more | Security | 15 | 12 |
Number of securities in unrealized loss positions | Security | 33 | 30 |
Less than twelve months Fair Value | $ 9,113,000 | $ 2,480,000 |
Twelve months or more Fair Value | 10,486,000 | 5,041,000 |
Total Fair Value | 19,599,000 | 7,521,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (186,000) | (24,000) |
Twelve months or more Unrealized Losses | (552,000) | (267,000) |
Total Unrealized Losses | $ (738,000) | $ (291,000) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 5 | 8 |
Number of securities in unrealized loss positions, twelve months or more | Security | 3 | 11 |
Number of securities in unrealized loss positions | Security | 8 | 19 |
Less than twelve months Fair Value | $ 1,071,000 | $ 5,668,000 |
Twelve months or more Fair Value | 1,986,000 | 8,644,000 |
Total Fair Value | 3,057,000 | 14,312,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (8,000) | (55,000) |
Twelve months or more Unrealized Losses | (75,000) | (256,000) |
Total Unrealized Losses | $ (83,000) | $ (311,000) |
Corporate [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 7 | 2 |
Number of securities in unrealized loss positions, twelve months or more | Security | 2 | 1 |
Number of securities in unrealized loss positions | Security | 9 | 3 |
Less than twelve months Fair Value | $ 5,062,000 | $ 1,791,000 |
Twelve months or more Fair Value | 1,640,000 | 1,727,000 |
Total Fair Value | 6,702,000 | 3,518,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (134,000) | (19,000) |
Twelve months or more Unrealized Losses | (167,000) | (73,000) |
Total Unrealized Losses | $ (301,000) | $ (92,000) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 2 | 3 |
Number of securities in unrealized loss positions, twelve months or more | Security | 1 | 1 |
Number of securities in unrealized loss positions | Security | 3 | 4 |
Less than twelve months Fair Value | $ 1,278,000 | $ 1,412,000 |
Twelve months or more Fair Value | 2,048,000 | 2,087,000 |
Total Fair Value | 3,326,000 | 3,499,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (37,000) | (10,000) |
Twelve months or more Unrealized Losses | (180,000) | (149,000) |
Total Unrealized Losses | $ (217,000) | $ (159,000) |
Asset Backed Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 5 | 2 |
Number of securities in unrealized loss positions, twelve months or more | Security | 0 | 1 |
Number of securities in unrealized loss positions | Security | 5 | 3 |
Less than twelve months Fair Value | $ 5,939,000 | $ 3,123,000 |
Twelve months or more Fair Value | 0 | 742,000 |
Total Fair Value | 5,939,000 | 3,865,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (63,000) | (17,000) |
Twelve months or more Unrealized Losses | 0 | (13,000) |
Total Unrealized Losses | $ (63,000) | $ (30,000) |
Residential Mortgage-Backed - US Agency [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 19 | 15 |
Number of securities in unrealized loss positions, twelve months or more | Security | 9 | 9 |
Number of securities in unrealized loss positions | Security | 28 | 24 |
Less than twelve months Fair Value | $ 20,238,000 | $ 21,551,000 |
Twelve months or more Fair Value | 10,054,000 | 10,463,000 |
Total Fair Value | 30,292,000 | 32,014,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (452,000) | (159,000) |
Twelve months or more Unrealized Losses | (536,000) | (336,000) |
Total Unrealized Losses | $ (988,000) | $ (495,000) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 6 | 2 |
Number of securities in unrealized loss positions, twelve months or more | Security | 0 | 0 |
Number of securities in unrealized loss positions | Security | 6 | 2 |
Less than twelve months Fair Value | $ 3,735,000 | $ 1,909,000 |
Twelve months or more Fair Value | 0 | 0 |
Total Fair Value | 3,735,000 | 1,909,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (78,000) | (10,000) |
Twelve months or more Unrealized Losses | 0 | 0 |
Total Unrealized Losses | $ (78,000) | $ (10,000) |
Collateralized Mortgage Obligations - US Agency [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 15 | 14 |
Number of securities in unrealized loss positions, twelve months or more | Security | 23 | 21 |
Number of securities in unrealized loss positions | Security | 38 | 35 |
Less than twelve months Fair Value | $ 22,610,000 | $ 23,790,000 |
Twelve months or more Fair Value | 27,986,000 | 25,395,000 |
Total Fair Value | 50,596,000 | 49,185,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (365,000) | (195,000) |
Twelve months or more Unrealized Losses | (1,610,000) | (938,000) |
Total Unrealized Losses | $ (1,975,000) | $ (1,133,000) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 2 | 2 |
Number of securities in unrealized loss positions, twelve months or more | Security | 0 | 0 |
Number of securities in unrealized loss positions | Security | 2 | 2 |
Less than twelve months Fair Value | $ 2,379,000 | $ 4,418,000 |
Twelve months or more Fair Value | 0 | 0 |
Total Fair Value | 2,379,000 | 4,418,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (24,000) | (215,000) |
Twelve months or more Unrealized Losses | 0 | 0 |
Total Unrealized Losses | $ (24,000) | $ (215,000) |
Collateralized Mortgage Obligations - Private Label [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 7 | 4 |
Number of securities in unrealized loss positions, twelve months or more | Security | 3 | 0 |
Number of securities in unrealized loss positions | Security | 10 | 4 |
Less than twelve months Fair Value | $ 13,833,000 | $ 7,439,000 |
Twelve months or more Fair Value | 3,229,000 | 0 |
Total Fair Value | 17,062,000 | 7,439,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (278,000) | (203,000) |
Twelve months or more Unrealized Losses | (108,000) | 0 |
Total Unrealized Losses | $ (386,000) | $ (203,000) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 0 | 1 |
Number of securities in unrealized loss positions, twelve months or more | Security | 1 | 0 |
Number of securities in unrealized loss positions | Security | 1 | 1 |
Less than twelve months Fair Value | $ 0 | $ 1,119,000 |
Twelve months or more Fair Value | 949,000 | 0 |
Total Fair Value | 949,000 | 1,119,000 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | 0 | (10,000) |
Twelve months or more Unrealized Losses | (11,000) | 0 |
Total Unrealized Losses | $ (11,000) | $ (10,000) |
Debt Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 75 | 60 |
Number of securities in unrealized loss positions, twelve months or more | Security | 54 | 48 |
Number of securities in unrealized loss positions | Security | 129 | 108 |
Less than twelve months Fair Value | $ 91,826,000 | $ 87,533,000 |
Twelve months or more Fair Value | 59,379,000 | 57,325,000 |
Total Fair Value | 151,205,000 | 144,858,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (1,684,000) | (722,000) |
Twelve months or more Unrealized Losses | (2,988,000) | (1,676,000) |
Total Unrealized Losses | $ (4,672,000) | $ (2,398,000) |
Investment Securities - Additio
Investment Securities - Additional Information (Details) | 6 Months Ended | |
Jun. 30, 2018USD ($)Security | Dec. 31, 2017USD ($)Security | |
Held-to-maturity Securities [Abstract] | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 6 | 13 |
Held to maturity sale securities aggregate market value | $ 5,959,000 | $ 11,719,000 |
Held-to-maturity securities unrealized aggregate loss | 290,000 | 417,000 |
Gain (Loss) on Sale of Investments [Abstract] | ||
Classification from investment securities from held-to-maturity to available-for-sale amortized cost before transfer | 26,647,000 | 66,196,000 |
Securities pledged to collateralize deposit | 108,500,000 | 113,000,000 |
Securities pledged to collateralize borrowing | $ 25,400,000 | $ 19,900,000 |
ASU 2017-12 [Member] | ||
Gain (Loss) on Sale of Investments [Abstract] | ||
Number of investment securities classified from held-to-maturity to available-for-sale. | Security | 52 | |
Classification from investment securities from held-to-maturity to available-for-sale amortized cost before transfer | $ 35,200,000 | |
Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Months of unrealized loss positions | 12 months | |
State and Political Subdivisions [Member] | ||
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 15 | 12 |
Available for sale securities continuous unrealized loss position twelve months or more amortized historical cost basis | $ 11,000,000 | |
Available for sale securities aggregate market value | 10,486,000 | $ 5,041,000 |
Available for sale securities unrealized aggregate loss | $ 552,000 | $ 267,000 |
Available for sale securities unrealized aggregate loss percentage | 5.27% | |
Held-to-maturity Securities [Abstract] | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 3 | 11 |
Held to maturity securities continuous unrealized loss position greater than twelve months amortized historical cost basis | $ 2,000,000 | |
Held to maturity sale securities aggregate market value | 1,986,000 | $ 8,644,000 |
Held-to-maturity securities unrealized aggregate loss | $ 75,000 | 256,000 |
Held-to-maturity securities unrealized aggregate loss percentage | 3.78% | |
Gain (Loss) on Sale of Investments [Abstract] | ||
Classification from investment securities from held-to-maturity to available-for-sale amortized cost before transfer | $ 5,309,000 | $ 35,130,000 |
Corporate [Member] | ||
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 2 | 1 |
Available for sale securities continuous unrealized loss position twelve months or more amortized historical cost basis | $ 1,800,000 | |
Available for sale securities aggregate market value | 1,640,000 | $ 1,727,000 |
Available for sale securities unrealized aggregate loss | $ 167,000 | $ 73,000 |
Available for sale securities unrealized aggregate loss percentage | 10.14% | |
Held-to-maturity Securities [Abstract] | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 1 | 1 |
Held to maturity securities continuous unrealized loss position greater than twelve months amortized historical cost basis | $ 2,200,000 | |
Held to maturity sale securities aggregate market value | 2,048,000 | $ 2,087,000 |
Held-to-maturity securities unrealized aggregate loss | $ 180,000 | 149,000 |
Held-to-maturity securities unrealized aggregate loss percentage | 8.79% | |
Gain (Loss) on Sale of Investments [Abstract] | ||
Classification from investment securities from held-to-maturity to available-for-sale amortized cost before transfer | $ 6,306,000 | $ 8,311,000 |
Fixed Rate, Private-label Asset-backed Securities Rated and Unrated [Member] | ||
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 3 | |
Available for sale securities continuous unrealized loss position twelve months or more amortized historical cost basis | $ 3,300,000 | |
Available for sale securities aggregate market value | 3,300,000 | |
Available for sale securities unrealized aggregate loss | $ 108,000 | |
Available for sale securities unrealized aggregate loss percentage | 3.35% | |
Fixed Rate, Private-label Asset-backed Security Unrated Two [Member] | ||
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 2 | |
Available for sale securities aggregate book value of securities unrated at time of issuance collateralized through subordination | $ 2,800,000 | |
Fixed Rate, Private-label Asset-backed Security [Member] | ||
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 1 | |
Available for sale securities aggregate book value of securities rated at highest investment grade rating | $ 521,000 | |
Fixed Rate, Private-label Asset-backed Security Unrated [Member] | ||
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 1 | |
Available for sale securities continuous unrealized loss position twelve months or more amortized historical cost basis | $ 960,000 | |
Available for sale securities aggregate market value | 949,000 | |
Available for sale securities unrealized aggregate loss | $ 11,000 | |
Available for sale securities unrealized aggregate loss percentage | 1.13% |
Investment Securities - Gross R
Investment Securities - Gross Realized Gains (Losses) on Sale of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Gain Loss On Sale Of Investments [Abstract] | ||||
Realized gains on investments | $ 133 | $ 70 | $ 160 | $ 148 |
Realized gains on hedging activity | 0 | 156 | 0 | 250 |
Realized losses on investments | (155) | (91) | (289) | (192) |
Total | (22) | 135 | (129) | 206 |
Gains on equity securities | 13 | 0 | 26 | 0 |
Gain (losses) on sale of securities, net | $ 13 | $ 0 | $ 26 | $ 0 |
Pension and Postretirement Be40
Pension and Postretirement Benefits - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2016 | Jun. 30, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Minimum years of service to participate in the health and life insurance benefits as of January 1, 1995 | 14 years | |
Pension Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Company contribution to defined benefit pension plan | $ 825,000 |
Pension and Postretirement Be41
Pension and Postretirement Benefits - Composition of Net Periodic Pension Plan and Postretirement Plan Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Pension Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 118 | $ 118 | $ 236 | $ 237 |
Expected return on plan assets | (259) | (236) | (518) | (473) |
Amortization of net losses/(gains) | 41 | 39 | 82 | 77 |
Net periodic benefit plan (benefit) cost | (100) | (79) | (200) | (159) |
Postretirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 6 | 2 | 11 | 4 |
Amortization of prior service credits | (1) | (2) | ||
Amortization of net losses/(gains) | 3 | $ (2) | 6 | $ (4) |
Net periodic benefit plan (benefit) cost | $ 8 | $ 15 |
Loans - Major Classification of
Loans - Major Classification of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | $ 607,327 | $ 581,244 | $ 549,201 |
Net deferred loan fees | (142) | (413) | |
Less allowance for loan losses | (7,605) | (7,126) | |
Loans receivable, net | 599,580 | 573,705 | |
Residential Mortgage Loans [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | 229,152 | 222,351 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | 225,864 | 216,793 | 204,117 |
Residential Mortgage Loans [Member] | Construction [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | 3,288 | 5,558 | |
Commercial Loans [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | 324,876 | 304,312 | |
Commercial Loans [Member] | Real Estate [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | 206,960 | 192,525 | 175,737 |
Commercial Loans [Member] | Lines of Credit [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | 49,314 | 51,285 | 21,132 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | 58,742 | 50,097 | 74,375 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | 9,860 | 10,405 | 11,446 |
Consumer Loans [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | 53,299 | 54,581 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | 26,262 | 25,935 | 25,257 |
Consumer Loans [Member] | Other Consumer [Member] | |||
Notes, Loans and Financing Receivable, Net [Abstract] | |||
Total loans | $ 27,037 | $ 28,646 | $ 30,497 |
Loans - Additional Information
Loans - Additional Information (Details) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017Loan | Jun. 30, 2018USD ($)LoanSegment | Jun. 30, 2017Loan | Dec. 31, 2017USD ($)Loan | Apr. 30, 2017USD ($) | Jan. 31, 2017USD ($) | |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans acquired | $ | $ 10,200,000 | $ 15,600,000 | ||||
Participating interest of acquired loan percentage | 90.00% | |||||
Number of loans secured by liens on automobiles | Loan | 1,231 | |||||
Number of loans outstanding | Loan | 1,000 | 1,082 | ||||
Loans acquired carrying amount | $ | $ 16,300,000 | $ 19,600,000 | ||||
Number of acquired loan cumulative net charge-offs | Loan | 9 | |||||
Acquired loans cumulative net charge-offs | $ | $ 79,000 | |||||
Acquired loans net charge-offs | $ | $ 34,000,000 | |||||
Number of portfolio segment | Segment | 3 | |||||
Troubled Debt Restructuring During Prior Twelve Months [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Number of loans | Loan | 0 | 0 | ||||
Number of loans subsequently defaulted | Loan | 0 | 0 | ||||
Residential Mortgage Loans [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Residential mortgage loans pledged to FHLBNY as blanket collateral | $ | $ 154,100,000 | $ 148,100,000 | ||||
Minimum [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Maturity period of acquired loans | 2 years | |||||
Maximum [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Maturity period of acquired loans | 6 years |
Loans - Summary of Classes of L
Loans - Summary of Classes of Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 607,327 | $ 581,244 | $ 549,201 |
Pass [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 595,722 | 568,086 | |
Special Mention [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,877 | 2,981 | |
Substandard [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 4,146 | 5,259 | |
Doubtful [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 4,582 | 4,918 | |
Residential Mortgage Loans [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 229,152 | 222,351 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 225,864 | 216,793 | 204,117 |
Residential Mortgage Loans [Member] | Construction [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 3,288 | 5,558 | |
Residential Mortgage Loans [Member] | Pass [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 225,007 | 217,383 | |
Residential Mortgage Loans [Member] | Pass [Member] | 1-4 Family First Lien Residential Mortgages [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 221,719 | 211,825 | |
Residential Mortgage Loans [Member] | Pass [Member] | Construction [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 3,288 | 5,558 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 485 | 891 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | 1-4 Family First Lien Residential Mortgages [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 485 | 891 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | Construction [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Residential Mortgage Loans [Member] | Substandard [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,284 | 1,869 | |
Residential Mortgage Loans [Member] | Substandard [Member] | 1-4 Family First Lien Residential Mortgages [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,284 | 1,869 | |
Residential Mortgage Loans [Member] | Substandard [Member] | Construction [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,376 | 2,208 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | 1-4 Family First Lien Residential Mortgages [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,376 | 2,208 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | Construction [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Commercial Loans [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 324,876 | 304,312 | |
Commercial Loans [Member] | Real Estate [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 206,960 | 192,525 | 175,737 |
Commercial Loans [Member] | Lines of Credit [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 49,314 | 51,285 | 21,132 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 58,742 | 50,097 | 74,375 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 9,860 | 10,405 | 11,446 |
Commercial Loans [Member] | Pass [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 317,945 | 296,723 | |
Commercial Loans [Member] | Pass [Member] | Real Estate [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 201,733 | 187,073 | |
Commercial Loans [Member] | Pass [Member] | Lines of Credit [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 48,941 | 50,507 | |
Commercial Loans [Member] | Pass [Member] | Other Commercial and Industrial [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 57,411 | 48,738 | |
Commercial Loans [Member] | Pass [Member] | Tax Exempt Loans [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 9,860 | 10,405 | |
Commercial Loans [Member] | Special Mention [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,104 | 1,974 | |
Commercial Loans [Member] | Special Mention [Member] | Real Estate [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,533 | 1,372 | |
Commercial Loans [Member] | Special Mention [Member] | Lines of Credit [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 164 | 195 | |
Commercial Loans [Member] | Special Mention [Member] | Other Commercial and Industrial [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 407 | 407 | |
Commercial Loans [Member] | Special Mention [Member] | Tax Exempt Loans [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Commercial Loans [Member] | Substandard [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,710 | 3,079 | |
Commercial Loans [Member] | Substandard [Member] | Real Estate [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,913 | 2,024 | |
Commercial Loans [Member] | Substandard [Member] | Lines of Credit [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 169 | 523 | |
Commercial Loans [Member] | Substandard [Member] | Other Commercial and Industrial [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 628 | 532 | |
Commercial Loans [Member] | Substandard [Member] | Tax Exempt Loans [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Commercial Loans [Member] | Doubtful [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,117 | 2,536 | |
Commercial Loans [Member] | Doubtful [Member] | Real Estate [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,781 | 2,056 | |
Commercial Loans [Member] | Doubtful [Member] | Lines of Credit [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 40 | 60 | |
Commercial Loans [Member] | Doubtful [Member] | Other Commercial and Industrial [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 296 | 420 | |
Commercial Loans [Member] | Doubtful [Member] | Tax Exempt Loans [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Consumer Loans [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 53,299 | 54,581 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 26,262 | 25,935 | 25,257 |
Consumer Loans [Member] | Other Consumer [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 27,037 | 28,646 | $ 30,497 |
Consumer Loans [Member] | Pass [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 52,770 | 53,980 | |
Consumer Loans [Member] | Pass [Member] | Home Equity and Junior Liens [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 25,906 | 25,396 | |
Consumer Loans [Member] | Pass [Member] | Other Consumer [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 26,864 | 28,584 | |
Consumer Loans [Member] | Special Mention [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 288 | 116 | |
Consumer Loans [Member] | Special Mention [Member] | Home Equity and Junior Liens [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 127 | 61 | |
Consumer Loans [Member] | Special Mention [Member] | Other Consumer [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 161 | 55 | |
Consumer Loans [Member] | Substandard [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 152 | 311 | |
Consumer Loans [Member] | Substandard [Member] | Home Equity and Junior Liens [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 140 | 304 | |
Consumer Loans [Member] | Substandard [Member] | Other Consumer [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 12 | 7 | |
Consumer Loans [Member] | Doubtful [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 89 | 174 | |
Consumer Loans [Member] | Doubtful [Member] | Home Equity and Junior Liens [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 89 | 174 | |
Consumer Loans [Member] | Doubtful [Member] | Other Consumer [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 0 | $ 0 |
Loans - Age Analysis of Past Du
Loans - Age Analysis of Past Due Loans Segregated by Portfolio Segment and Class of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | $ 7,829 | $ 12,349 | |
Current | 599,498 | 568,895 | |
Total Loans Receivable | 607,327 | 581,244 | $ 549,201 |
30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1,572 | 4,259 | |
60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 812 | 3,196 | |
90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 5,445 | 4,894 | |
Residential Mortgage Loans [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 3,272 | 4,209 | |
Current | 225,880 | 218,142 | |
Total Loans Receivable | 229,152 | 222,351 | |
Residential Mortgage Loans [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1,095 | 1,196 | |
Residential Mortgage Loans [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 87 | 925 | |
Residential Mortgage Loans [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 2,090 | 2,088 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 3,272 | 4,209 | |
Current | 222,592 | 212,584 | |
Total Loans Receivable | 225,864 | 216,793 | 204,117 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1,095 | 1,196 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 87 | 925 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 2,090 | 2,088 | |
Residential Mortgage Loans [Member] | Construction [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Current | 3,288 | 5,558 | |
Total Loans Receivable | 3,288 | 5,558 | |
Residential Mortgage Loans [Member] | Construction [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Residential Mortgage Loans [Member] | Construction [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Residential Mortgage Loans [Member] | Construction [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Commercial Loans [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 4,118 | 7,367 | |
Current | 320,758 | 296,945 | |
Total Loans Receivable | 324,876 | 304,312 | |
Commercial Loans [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 315 | 2,777 | |
Commercial Loans [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 651 | 2,147 | |
Commercial Loans [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 3,152 | 2,443 | |
Commercial Loans [Member] | Real Estate [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 2,910 | 4,321 | |
Current | 204,050 | 188,204 | |
Total Loans Receivable | 206,960 | 192,525 | 175,737 |
Commercial Loans [Member] | Real Estate [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 54 | 720 | |
Commercial Loans [Member] | Real Estate [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 387 | 2,056 | |
Commercial Loans [Member] | Real Estate [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 2,469 | 1,545 | |
Commercial Loans [Member] | Lines of Credit [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 311 | 1,645 | |
Current | 49,003 | 49,640 | |
Total Loans Receivable | 49,314 | 51,285 | 21,132 |
Commercial Loans [Member] | Lines of Credit [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 161 | 1,482 | |
Commercial Loans [Member] | Lines of Credit [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 17 | 31 | |
Commercial Loans [Member] | Lines of Credit [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 133 | 132 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 659 | 1,401 | |
Current | 58,083 | 48,696 | |
Total Loans Receivable | 58,742 | 50,097 | 74,375 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 100 | 575 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 9 | 60 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 550 | 766 | |
Commercial Loans [Member] | Tax Exempt Loans [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 238 | 0 | |
Current | 9,622 | 10,405 | |
Total Loans Receivable | 9,860 | 10,405 | 11,446 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Commercial Loans [Member] | Tax Exempt Loans [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 238 | 0 | |
Commercial Loans [Member] | Tax Exempt Loans [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Consumer Loans [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 439 | 773 | |
Current | 52,860 | 53,808 | |
Total Loans Receivable | 53,299 | 54,581 | |
Consumer Loans [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 162 | 286 | |
Consumer Loans [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 74 | 124 | |
Consumer Loans [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 203 | 363 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 205 | 468 | |
Current | 26,057 | 25,467 | |
Total Loans Receivable | 26,262 | 25,935 | 25,257 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 55 | 94 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 10 | 74 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 140 | 300 | |
Consumer Loans [Member] | Other Consumer [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 234 | 305 | |
Current | 26,803 | 28,341 | |
Total Loans Receivable | 27,037 | 28,646 | $ 30,497 |
Consumer Loans [Member] | Other Consumer [Member] | 30-59 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 107 | 192 | |
Consumer Loans [Member] | Other Consumer [Member] | 60-89 Days Past Due And Accruing [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 64 | 50 | |
Consumer Loans [Member] | Other Consumer [Member] | 90 Days and Over [Member] | |||
Recorded Investment, Past Due [Line Items] | |||
Total Past Due | $ 63 | $ 63 |
Loans - Nonaccrual Loans Segreg
Loans - Nonaccrual Loans Segregated by Class of Loan (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | $ 5,445 | $ 4,894 |
Residential Mortgage Loans [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 2,090 | 2,088 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 2,090 | 2,088 |
Commercial Loans [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 3,152 | 2,443 |
Commercial Loans [Member] | Real Estate [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 2,469 | 1,545 |
Commercial Loans [Member] | Lines of Credit [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 133 | 132 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 550 | 766 |
Consumer Loans [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 203 | 363 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 140 | 300 |
Consumer Loans [Member] | Other Consumer [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | $ 63 | $ 63 |
Loans - Troubled Debt Restructu
Loans - Troubled Debt Restructurings on Financing Receivables (Details) - Other Commercial and Industrial Loans [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($)Loan | |
Troubled Debt Restructuring, Modified [Abstract] | |
Number of loans | Loan | 1 |
Pre-modification outstanding recorded investment | $ 300 |
Post-modification outstanding recorded investment | 300 |
Additional provision for loan losses | $ 0 |
Loans - Summary of Impaired Loa
Loans - Summary of Impaired Loans Information by Portfolio Class (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
With an allowance recorded [Abstract] | ||
Related Allowance | $ 1,171 | $ 1,103 |
Total [Abstract] | ||
Recorded Investment | 7,828 | 9,243 |
Unpaid Principal Balance | 7,887 | 9,300 |
Related Allowance | 1,171 | 1,103 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 872 | 900 |
Unpaid Principal Balance | 876 | 909 |
With an allowance recorded [Abstract] | ||
Recorded Investment | 972 | 958 |
Unpaid Principal Balance | 972 | 958 |
Related Allowance | 111 | 210 |
Total [Abstract] | ||
Recorded Investment | 1,844 | 1,858 |
Unpaid Principal Balance | 1,848 | 1,867 |
Related Allowance | 111 | 210 |
Commercial Loans [Member] | Real Estate [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 2,351 | 3,314 |
Unpaid Principal Balance | 2,405 | 3,360 |
With an allowance recorded [Abstract] | ||
Recorded Investment | 2,179 | 2,186 |
Unpaid Principal Balance | 2,179 | 2,187 |
Related Allowance | 596 | 320 |
Total [Abstract] | ||
Recorded Investment | 4,530 | 5,500 |
Unpaid Principal Balance | 4,584 | 5,547 |
Related Allowance | 596 | 320 |
Commercial Loans [Member] | Lines of Credit [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 162 | 507 |
Unpaid Principal Balance | 162 | 507 |
With an allowance recorded [Abstract] | ||
Recorded Investment | 47 | 40 |
Unpaid Principal Balance | 47 | 40 |
Related Allowance | 47 | 40 |
Total [Abstract] | ||
Recorded Investment | 209 | 547 |
Unpaid Principal Balance | 209 | 547 |
Related Allowance | 47 | 40 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 732 | 523 |
Unpaid Principal Balance | 733 | 524 |
With an allowance recorded [Abstract] | ||
Recorded Investment | 306 | 525 |
Unpaid Principal Balance | 306 | 525 |
Related Allowance | 276 | 391 |
Total [Abstract] | ||
Recorded Investment | 1,038 | 1,048 |
Unpaid Principal Balance | 1,039 | 1,049 |
Related Allowance | 276 | 391 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 0 | 80 |
Unpaid Principal Balance | 0 | 80 |
With an allowance recorded [Abstract] | ||
Recorded Investment | 207 | 210 |
Unpaid Principal Balance | 207 | 210 |
Related Allowance | 141 | 142 |
Total [Abstract] | ||
Recorded Investment | 207 | 290 |
Unpaid Principal Balance | 207 | 290 |
Related Allowance | $ 141 | $ 142 |
Loans - Summary of Average Reco
Loans - Summary of Average Recorded Investment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | $ 8,451 | $ 7,541 | $ 8,714 | $ 7,892 |
1-4 Family First Lien Residential Mortgages [Member] | ||||
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | 1,846 | 1,416 | 1,850 | 1,482 |
Commercial Real Estate [Member] | ||||
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | 4,971 | 4,508 | 5,147 | 4,696 |
Commercial Lines of Credit [Member] | ||||
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | 376 | 418 | 433 | 412 |
Other Commercial and Industrial [Member] | ||||
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | 1,050 | 984 | 1,049 | 997 |
Home Equity and Junior Liens [Member] | ||||
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | $ 208 | $ 215 | $ 235 | $ 305 |
Loans - Schedule of Cash Basis
Loans - Schedule of Cash Basis Interest Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | $ 58 | $ 76 | $ 144 | $ 146 |
1-4 Family First Lien Residential Mortgages [Member] | ||||
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | 14 | 10 | 32 | 21 |
Commercial Real Estate [Member] | ||||
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | 18 | 50 | 66 | 95 |
Commercial Lines of Credit [Member] | ||||
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | 10 | 7 | 21 | 13 |
Other Commercial and Industrial [Member] | ||||
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | 13 | 6 | 19 | 13 |
Home Equity and Junior Liens [Member] | ||||
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | $ 3 | $ 3 | $ 6 | $ 4 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Allowance for loan losses: | |||||
Beginning Balance | $ 7,451 | $ 5,964 | $ 7,126 | $ 6,247 | |
Charge-offs | (220) | (152) | (541) | (840) | |
Recoveries | 77 | 23 | 110 | 39 | |
Provisions (credits) | 297 | 423 | 910 | 812 | |
Ending balance | 7,605 | 6,258 | 7,605 | 6,258 | |
Ending balance: related to loans individually evaluated for impairment | 1,171 | 718 | 1,171 | 718 | |
Ending balance: related to loans collectively evaluated for impairment | 6,434 | 5,540 | 6,434 | 5,540 | |
Total Loans Receivable | 607,327 | 549,201 | 607,327 | 549,201 | $ 581,244 |
Ending balance: individually evaluated for impairment | 7,828 | 7,296 | 7,828 | 7,296 | |
Ending balance: collectively evaluated for impairment | 599,499 | 541,905 | 599,499 | 541,905 | |
Unallocated [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 9 | 1 | |||
Charge-offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Provisions (credits) | 5 | (1) | 14 | ||
Ending balance | 14 | 0 | 14 | 0 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: related to loans collectively evaluated for impairment | 14 | 0 | 14 | 0 | |
Residential Mortgage Loans [Member] | |||||
Allowance for loan losses: | |||||
Total Loans Receivable | 229,152 | 229,152 | 222,351 | ||
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 751 | 943 | 865 | 759 | |
Charge-offs | (74) | (143) | (192) | (156) | |
Recoveries | 0 | 0 | 20 | 1 | |
Provisions (credits) | 45 | 13 | 29 | 209 | |
Ending balance | 722 | 813 | 722 | 813 | |
Ending balance: related to loans individually evaluated for impairment | 111 | 193 | 111 | 193 | |
Ending balance: related to loans collectively evaluated for impairment | 611 | 620 | 611 | 620 | |
Total Loans Receivable | 225,864 | 204,117 | 225,864 | 204,117 | 216,793 |
Ending balance: individually evaluated for impairment | 1,844 | 1,220 | 1,844 | 1,220 | |
Ending balance: collectively evaluated for impairment | 224,020 | 202,897 | 224,020 | 202,897 | |
Residential Mortgage Loans [Member] | Residential Construction Mortgage [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 0 | 0 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Provisions (credits) | 0 | 0 | |||
Ending balance | 0 | 0 | 0 | 0 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: related to loans collectively evaluated for impairment | 0 | 0 | 0 | 0 | |
Total Loans Receivable | 3,288 | 6,640 | 3,288 | 6,640 | |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: collectively evaluated for impairment | 3,288 | 6,640 | 3,288 | 6,640 | |
Commercial Loans [Member] | |||||
Allowance for loan losses: | |||||
Total Loans Receivable | 324,876 | 324,876 | 304,312 | ||
Commercial Loans [Member] | Real Estate [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 3,895 | 2,532 | 3,589 | 2,935 | |
Charge-offs | 0 | 0 | (505) | ||
Recoveries | 0 | 0 | |||
Provisions (credits) | 246 | 272 | 552 | 374 | |
Ending balance | 4,141 | 2,804 | 4,141 | 2,804 | |
Ending balance: related to loans individually evaluated for impairment | 596 | 0 | 596 | 0 | |
Ending balance: related to loans collectively evaluated for impairment | 3,545 | 2,804 | 3,545 | 2,804 | |
Total Loans Receivable | 206,960 | 175,737 | 206,960 | 175,737 | 192,525 |
Ending balance: individually evaluated for impairment | 4,530 | 4,474 | 4,530 | 4,474 | |
Ending balance: collectively evaluated for impairment | 202,430 | 171,263 | 202,430 | 171,263 | |
Commercial Loans [Member] | Lines of Credit [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 719 | 365 | 735 | 397 | |
Charge-offs | (50) | 0 | (50) | (53) | |
Recoveries | 66 | 0 | 66 | ||
Provisions (credits) | (4) | 8 | (20) | 29 | |
Ending balance | 731 | 373 | 731 | 373 | |
Ending balance: related to loans individually evaluated for impairment | 47 | 7 | 47 | 7 | |
Ending balance: related to loans collectively evaluated for impairment | 684 | 366 | 684 | 366 | |
Total Loans Receivable | 49,314 | 21,132 | 49,314 | 21,132 | 51,285 |
Ending balance: individually evaluated for impairment | 209 | 421 | 209 | 421 | |
Ending balance: collectively evaluated for impairment | 49,105 | 20,711 | 49,105 | 20,711 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 1,309 | 1,480 | 1,214 | 1,658 | |
Charge-offs | (48) | (1) | (171) | (17) | |
Recoveries | 0 | 13 | 15 | ||
Provisions (credits) | 10 | 119 | 228 | (45) | |
Ending balance | 1,271 | 1,611 | 1,271 | 1,611 | |
Ending balance: related to loans individually evaluated for impairment | 276 | 376 | 276 | 376 | |
Ending balance: related to loans collectively evaluated for impairment | 995 | 1,235 | 995 | 1,235 | |
Total Loans Receivable | 58,742 | 74,375 | 58,742 | 74,375 | 50,097 |
Ending balance: individually evaluated for impairment | 1,038 | 967 | 1,038 | 967 | |
Ending balance: collectively evaluated for impairment | 57,704 | 73,408 | 57,704 | 73,408 | |
Commercial Loans [Member] | Tax Exempt Loans [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 1 | 1 | 1 | 1 | |
Charge-offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Provisions (credits) | 0 | 0 | |||
Ending balance | 1 | 1 | 1 | 1 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: related to loans collectively evaluated for impairment | 1 | 1 | 1 | 1 | |
Total Loans Receivable | 9,860 | 11,446 | 9,860 | 11,446 | 10,405 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: collectively evaluated for impairment | 9,860 | 11,446 | 9,860 | 11,446 | |
Consumer Loans [Member] | |||||
Allowance for loan losses: | |||||
Total Loans Receivable | 53,299 | 53,299 | 54,581 | ||
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 507 | 509 | 514 | 331 | |
Charge-offs | 0 | 0 | (17) | (69) | |
Recoveries | 1 | 1 | 1 | 1 | |
Provisions (credits) | (74) | (17) | (64) | 230 | |
Ending balance | 434 | 493 | 434 | 493 | |
Ending balance: related to loans individually evaluated for impairment | 141 | 142 | 141 | 142 | |
Ending balance: related to loans collectively evaluated for impairment | 293 | 351 | 293 | 351 | |
Total Loans Receivable | 26,262 | 25,257 | 26,262 | 25,257 | 25,935 |
Ending balance: individually evaluated for impairment | 207 | 214 | 207 | 214 | |
Ending balance: collectively evaluated for impairment | 26,055 | 25,043 | 26,055 | 25,043 | |
Consumer Loans [Member] | Other Consumer [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 260 | 133 | 208 | 166 | |
Charge-offs | (48) | (8) | (111) | (40) | |
Recoveries | 10 | 9 | 23 | 22 | |
Provisions (credits) | 69 | 29 | 171 | 15 | |
Ending balance | 291 | 163 | 291 | 163 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: related to loans collectively evaluated for impairment | 291 | 163 | 291 | 163 | |
Total Loans Receivable | 27,037 | 30,497 | 27,037 | 30,497 | $ 28,646 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: collectively evaluated for impairment | $ 27,037 | $ 30,497 | $ 27,037 | $ 30,497 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of Allowance for Loan Losses on Basis of Calculation Methodology (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | $ 1,171 | $ 718 | ||||
Historical loss rate | 374 | 322 | ||||
Qualitative factors | 6,046 | 5,218 | ||||
Other | 14 | |||||
Total | 7,605 | $ 7,451 | $ 7,126 | 6,258 | $ 5,964 | $ 6,247 |
Unallocated [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 0 | 0 | ||||
Historical loss rate | 0 | 0 | ||||
Qualitative factors | 0 | 0 | ||||
Other | 14 | |||||
Total | 14 | 9 | 0 | 1 | ||
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 111 | 193 | ||||
Historical loss rate | 111 | 75 | ||||
Qualitative factors | 500 | 545 | ||||
Total | 722 | 751 | 865 | 813 | 943 | 759 |
Residential Mortgage Loans [Member] | Residential Construction Mortgage [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 0 | 0 | ||||
Historical loss rate | 0 | 0 | ||||
Qualitative factors | 0 | 0 | ||||
Total | 0 | 0 | 0 | 0 | ||
Commercial Loans [Member] | Real Estate [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 596 | 0 | ||||
Historical loss rate | 86 | 105 | ||||
Qualitative factors | 3,459 | 2,699 | ||||
Total | 4,141 | 3,895 | 3,589 | 2,804 | 2,532 | 2,935 |
Commercial Loans [Member] | Lines of Credit [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 47 | 7 | ||||
Historical loss rate | 24 | 39 | ||||
Qualitative factors | 660 | 327 | ||||
Total | 731 | 719 | 735 | 373 | 365 | 397 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 276 | 376 | ||||
Historical loss rate | 17 | 24 | ||||
Qualitative factors | 978 | 1,211 | ||||
Total | 1,271 | 1,309 | 1,214 | 1,611 | 1,480 | 1,658 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 0 | 0 | ||||
Historical loss rate | 0 | 0 | ||||
Qualitative factors | 1 | 1 | ||||
Other | 0 | |||||
Total | 1 | 1 | 1 | 1 | 1 | 1 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 141 | 142 | ||||
Historical loss rate | 24 | 50 | ||||
Qualitative factors | 269 | 301 | ||||
Other | 0 | |||||
Total | 434 | 507 | 514 | 493 | 509 | 331 |
Consumer Loans [Member] | Other Consumer [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 0 | 0 | ||||
Historical loss rate | 112 | 29 | ||||
Qualitative factors | 179 | 134 | ||||
Other | 0 | |||||
Total | $ 291 | $ 260 | $ 208 | $ 163 | $ 133 | $ 166 |
Foreclosed Real Estate - Summar
Foreclosed Real Estate - Summary of Carrying Amount of Foreclosed Residential Real Estate Properties Held (Details) $ in Thousands | Jun. 30, 2018USD ($)Property | Dec. 31, 2017USD ($)Property |
Real Estate Properties [Line Items] | ||
Foreclosed real estate | $ 97 | $ 468 |
Foreclosed Residential Real Estate [Member] | ||
Real Estate Properties [Line Items] | ||
Number of properties | Property | 4 | 5 |
Foreclosed real estate | $ 97 | $ 468 |
Foreclosed Real Estate - Additi
Foreclosed Real Estate - Additional Information (Details) $ in Millions | Jun. 30, 2018USD ($) |
Real Estate Owned Disclosure Of Detailed Components [Abstract] | |
Residential real estate loans in the process of foreclosure | $ 1.3 |
Guarantees - Additional Informa
Guarantees - Additional Information (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Standby Letters of Credit [Member] | |
Loss Contingencies [Line Items] | |
Maximum amount of loss due to credit risk | $ 1.8 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value of Assets on Recurring Basis Segregated by Level of Valuation Inputs (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Equity investment securities: | ||
Common stock - Financial services industry | $ 515 | |
Marketable equity securities | $ 541 | |
Level 2 [Member] | Total Fair Value [Member] | ||
Equity investment securities: | ||
Marketable equity securities | 541 | 0 |
Recurring Basis [Member] | Total Fair Value [Member] | ||
Debt investment securities: | ||
US Treasury, agencies and GSEs | 21,035 | 41,336 |
State and political subdivisions | 27,988 | 13,681 |
Corporate | 13,005 | 8,600 |
Asset backed securities | 10,785 | 6,644 |
Residential mortgage-backed - US agency | 33,033 | 35,742 |
Collateralized mortgage obligations - US agency | 58,120 | 53,348 |
Collateralized mortgage obligations - Private label | 19,859 | 11,052 |
Equity investment securities: | ||
Common stock - Financial services industry | 205 | 735 |
Total available-for-sale securities | 184,030 | 171,138 |
Marketable equity securities | 541 | |
Recurring Basis [Member] | Level 1 [Member] | ||
Debt investment securities: | ||
US Treasury, agencies and GSEs | 0 | 0 |
State and political subdivisions | 0 | 0 |
Corporate | 0 | 0 |
Asset backed securities | 0 | 0 |
Residential mortgage-backed - US agency | 0 | 0 |
Collateralized mortgage obligations - US agency | 0 | 0 |
Collateralized mortgage obligations - Private label | 0 | 0 |
Equity investment securities: | ||
Common stock - Financial services industry | 0 | 0 |
Total available-for-sale securities | 0 | 0 |
Marketable equity securities | 0 | |
Recurring Basis [Member] | Level 2 [Member] | ||
Debt investment securities: | ||
US Treasury, agencies and GSEs | 21,035 | 41,336 |
State and political subdivisions | 27,988 | 13,681 |
Corporate | 13,005 | 8,600 |
Asset backed securities | 10,785 | 6,644 |
Residential mortgage-backed - US agency | 33,033 | 35,742 |
Collateralized mortgage obligations - US agency | 58,120 | 53,348 |
Collateralized mortgage obligations - Private label | 19,859 | 11,052 |
Equity investment securities: | ||
Common stock - Financial services industry | 205 | 220 |
Total available-for-sale securities | 184,030 | 170,623 |
Marketable equity securities | 541 | |
Recurring Basis [Member] | Level 3 [Member] | ||
Debt investment securities: | ||
US Treasury, agencies and GSEs | 0 | 0 |
State and political subdivisions | 0 | 0 |
Corporate | 0 | 0 |
Asset backed securities | 0 | 0 |
Residential mortgage-backed - US agency | 0 | 0 |
Collateralized mortgage obligations - US agency | 0 | 0 |
Collateralized mortgage obligations - Private label | 0 | 0 |
Equity investment securities: | ||
Common stock - Financial services industry | 0 | 515 |
Total available-for-sale securities | 0 | $ 515 |
Marketable equity securities | $ 0 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Valuation Techniques and Significant Unobservable Inputs Used for Investments are Categorized Within Level 3 Fair Value Hierarchy (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |
Common Stock – Financial Services Industry | $ 515 |
Measurement Input, Comparability Adjustment [Member] | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |
Weight ascribed to comparable companies | 100.00% |
Fair Value Measurements - Sum58
Fair Value Measurements - Summary of Fair Value Assets Measured on Nonrecurring Basis (Details) - Nonrecurring Basis [Member] - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Total Fair Value [Member] | ||
Nonrecurring basis [Abstract] | ||
Impaired loans | $ 1,832 | $ 4,887 |
Foreclosed real estate | 61 | 434 |
Level 1 [Member] | ||
Nonrecurring basis [Abstract] | ||
Impaired loans | 0 | 0 |
Foreclosed real estate | 0 | 0 |
Level 2 [Member] | ||
Nonrecurring basis [Abstract] | ||
Impaired loans | 0 | 0 |
Foreclosed real estate | 0 | 0 |
Level 3 [Member] | ||
Nonrecurring basis [Abstract] | ||
Impaired loans | 1,832 | 4,887 |
Foreclosed real estate | $ 61 | $ 434 |
Fair Value Measurements - Fai59
Fair Value Measurements - Fair Value Inputs, Quantitative Information (Details) - Level 3 [Member] - Measurement Input, Discount Rate [Member] | Jun. 30, 2018 | Dec. 31, 2017 |
Impaired Loans [Member] | Minimum [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 5 | 5 |
Impaired Loans [Member] | Minimum [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 7 | 7 |
Impaired Loans [Member] | Maximum [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 10 | 30 |
Impaired Loans [Member] | Maximum [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 13 | 13 |
Impaired Loans [Member] | Weighted Average [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 5 | 9 |
Impaired Loans [Member] | Weighted Average [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 11 | 11 |
Foreclosed Real Estate [Member] | Minimum [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 15 | 15 |
Foreclosed Real Estate [Member] | Minimum [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 6 | 6 |
Foreclosed Real Estate [Member] | Maximum [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 15 | 15 |
Foreclosed Real Estate [Member] | Maximum [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 8 | 8 |
Foreclosed Real Estate [Member] | Weighted Average [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 15 | 15 |
Foreclosed Real Estate [Member] | Weighted Average [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 7 | 7 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) | Jun. 30, 2018USD ($) |
Common Stock [Member] | Unaffiliated [Member] | |
Fair Value Disclosures [Line Items] | |
Investment owned, at fair market value | $ 541,000 |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financial assets: | ||
Investment securities - available-for-sale | $ 184,030 | $ 171,138 |
Marketable equity securities, at fair value | 541 | |
Investment securities - held-to-maturity | 26,244 | 66,426 |
Level 1 [Member] | Carrying Amounts [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 36,740 | 21,991 |
Accrued interest receivable | 2,725 | 3,047 |
Financial liabilities: | ||
Demand Deposits, Savings, NOW and MMDA | 507,549 | 510,176 |
Accrued interest payable | 255 | 186 |
Level 1 [Member] | Estimated Fair Values [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 36,740 | 21,991 |
Accrued interest receivable | 2,725 | 3,047 |
Financial liabilities: | ||
Demand Deposits, Savings, NOW and MMDA | 507,549 | 510,176 |
Accrued interest payable | 255 | 186 |
Level 2 [Member] | Carrying Amounts [Member] | ||
Financial assets: | ||
Investment securities - available-for-sale | 184,030 | 170,623 |
Marketable equity securities, at fair value | 541 | 0 |
Investment securities - held-to-maturity | 26,647 | 66,196 |
Federal Home Loan Bank stock | 4,388 | 3,855 |
Financial liabilities: | ||
Time Deposits | 225,620 | 213,427 |
Borrowings | 84,103 | 73,888 |
Subordinated loans | 15,076 | 15,059 |
Level 2 [Member] | Estimated Fair Values [Member] | ||
Financial assets: | ||
Investment securities - available-for-sale | 184,030 | 170,623 |
Marketable equity securities, at fair value | 541 | 0 |
Investment securities - held-to-maturity | 26,244 | 66,426 |
Federal Home Loan Bank stock | 4,388 | 3,855 |
Financial liabilities: | ||
Time Deposits | 223,874 | 212,453 |
Borrowings | 83,704 | 73,575 |
Subordinated loans | 14,793 | 14,953 |
Level 3 [Member] | Carrying Amounts [Member] | ||
Financial assets: | ||
Investment securities - available-for-sale | 0 | 515 |
Net loans | 599,580 | 573,705 |
Level 3 [Member] | Estimated Fair Values [Member] | ||
Financial assets: | ||
Investment securities - available-for-sale | 0 | 515 |
Net loans | $ 587,127 | $ 570,439 |
Interest Rate Derivatives - Add
Interest Rate Derivatives - Additional Information (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($)Security | Dec. 31, 2017USD ($) | |
Derivative [Line Items] | ||||
Held-to-maturity securities, debt maturities, Amortized Cost | $ 26,647,000 | $ 66,196,000 | ||
Derivative Financial Instruments [Abstract] | ||||
Proceeds from sale of U.S. Treasury securities | $ 40,000,000 | |||
Repurchase agreement period | 30 days | |||
Recognized gain on the sale and repurchase of securities | $ 156,000 | $ 250,000 | ||
Recognized tax benefits from reversal of reserves | $ 60,000 | $ 96,000 | ||
Effective tax rate | 21.30% | 22.60% | ||
Expected effective tax rate with no impact of hedging | 26.70% | 27.10% | ||
After tax interest expenses partially offset | $ 137,000 | $ 266,000 | ||
Reduction in pretax net interest margin | 222,000 | 430,000 | ||
Increase in after-tax net income | $ 79,000 | $ 80,000 | ||
ASU 2017-12 [Member] | ||||
Derivative [Line Items] | ||||
Number of investment securities classified from held-to-maturity to available-for-sale. | Security | 52 | |||
Held-to-maturity securities, debt maturities, Amortized Cost | $ 35,200,000 |
Accumulated Other Comprehensi63
Accumulated Other Comprehensive Income (Loss) - Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Balance | $ 62,144 | $ 58,361 | |||
Other comprehensive income before reclassifications | $ (507) | $ 845 | (1,728) | 1,480 | |
Amounts reclassified from AOCI | 48 | (58) | 159 | (78) | |
Balance | 62,869 | 61,531 | 62,869 | 61,531 | |
ASU 2016-01 [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Cumulative effect of change in equity securities and investment securities | [1] | (53) | |||
ASU 2017-12 [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Cumulative effect of change in equity securities and investment securities | [2] | 359 | |||
Retirement Plans [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Balance | (2,188) | (1,490) | (2,220) | (1,513) | |
Other comprehensive income before reclassifications | 0 | 0 | 0 | 0 | |
Amounts reclassified from AOCI | 32 | 22 | 64 | 45 | |
Balance | (2,156) | (1,468) | (2,156) | (1,468) | |
Retirement Plans [Member] | ASU 2016-01 [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Cumulative effect of change in equity securities and investment securities | [1] | 0 | |||
Retirement Plans [Member] | ASU 2017-12 [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Cumulative effect of change in equity securities and investment securities | [2] | 0 | |||
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Balance | (2,410) | (1,275) | (1,558) | (1,845) | |
Other comprehensive income before reclassifications | (854) | 832 | (1,848) | 1,445 | |
Amounts reclassified from AOCI | 16 | (80) | 95 | (123) | |
Balance | (3,248) | (523) | (3,248) | (523) | |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ASU 2016-01 [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Cumulative effect of change in equity securities and investment securities | [1] | (53) | |||
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ASU 2017-12 [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Cumulative effect of change in equity securities and investment securities | [2] | 116 | |||
Unrealized Loss on Securities Transferred to Held-to-Maturity [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Balance | (414) | (442) | (430) | (464) | |
Other comprehensive income before reclassifications | 347 | 13 | 120 | 35 | |
Amounts reclassified from AOCI | 0 | 0 | 0 | 0 | |
Balance | (67) | (429) | (67) | (429) | |
Unrealized Loss on Securities Transferred to Held-to-Maturity [Member] | ASU 2016-01 [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Cumulative effect of change in equity securities and investment securities | [1] | 0 | |||
Unrealized Loss on Securities Transferred to Held-to-Maturity [Member] | ASU 2017-12 [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Cumulative effect of change in equity securities and investment securities | [2] | 243 | |||
AOCI Attributable to Parent [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Balance | (5,012) | (3,207) | (4,208) | (3,822) | |
Balance | $ (5,471) | $ (2,420) | (5,471) | $ (2,420) | |
AOCI Attributable to Parent [Member] | ASU 2017-12 [Member] | |||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Cumulative effect of change in equity securities and investment securities | [2] | $ 0 | |||
[1] | Cumulative effect of unrealized gain on marketable equity securities based on the adoption of ASU 2016-01 - Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities. | ||||
[2] | Cumulative effect of unrealized gains on the transfer of 52 investment securities from held-to-maturity classification to available-for-sale classification based on the adoption of ASU 2017-12: Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. |
Accumulated Other Comprehensi64
Accumulated Other Comprehensive Income (Loss) - Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax (Parenthetical) (Details) | Jun. 30, 2018Security |
ASU 2017-12 [Member] | |
Accumulated Other Comprehensive Income Loss [Line Items] | |
Number of investment securities classified from held-to-maturity to available-for-sale. | 52 |
Accumulated Other Comprehensi65
Accumulated Other Comprehensive Income (Loss) - Summary of Amounts Reclassified Out of Each Component of AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Salaries and employee benefits | $ (3,429) | $ (2,819) | $ (6,513) | $ (5,669) | |
Net gains on sales and redemptions of investment securities | 13 | 0 | 26 | 0 | |
Provision for income taxes | (166) | (238) | (348) | (483) | |
Net income attributable to Pathfinder Bancorp Inc. | 945 | 920 | 1,949 | 1,720 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Available-for-Sale Securities [Member] | |||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Net gains on sales and redemptions of investment securities | [1] | (22) | 135 | (129) | 206 |
Provision for income taxes | [1] | 6 | (55) | 34 | (83) |
Net income attributable to Pathfinder Bancorp Inc. | [1] | (16) | 80 | (95) | 123 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Retirement Plans [Member] | |||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Salaries and employee benefits | [1],[2] | (43) | (37) | (86) | (73) |
Provision for income taxes | [1],[2] | 11 | 15 | 22 | 28 |
Net income attributable to Pathfinder Bancorp Inc. | [1],[2] | $ (32) | $ (22) | $ (64) | $ (45) |
[1] | Amounts in parentheses indicates debits in net income. | ||||
[2] | These items are included in net periodic pension cost. |
Noninterest Income - Additional
Noninterest Income - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
ASU 2014-09 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Expense recognized on credit card rewards in other costs of operations | $ 24,000 | $ 13,000 | $ 38,000 | $ 39,000 |
Noninterest Income - Summary of
Noninterest Income - Summary of Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Disaggregation Of Revenue [Line Items] | ||||
Earnings and gain on bank owned life insurance | $ 108 | $ 62 | $ 181 | $ 133 |
Net (losses) gains on sales and redemptions of investment securities | (22) | 135 | (129) | 206 |
Gains on equity securities | 13 | 0 | 26 | 0 |
Other miscellaneous income | 15 | 19 | 90 | 37 |
Total noninterest income | 1,024 | 1,050 | 1,919 | 1,987 |
Insufficient Funds Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 200 | 205 | 400 | 394 |
Deposit Related Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 48 | 44 | 99 | 95 |
ATM Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 25 | 25 | 48 | 48 |
Service Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 273 | 274 | 547 | 537 |
Insurance Commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 234 | 234 | 460 | 451 |
Investment Services Revenue [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 83 | 65 | 149 | 146 |
ATM Fees Surcharge [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 61 | 60 | 106 | 106 |
Banking House Rents Collected [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 36 | 31 | 66 | 55 |
Fee Income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 414 | 390 | 781 | 758 |
Debit Card Interchange Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 148 | 147 | 291 | 268 |
Merchant Card Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 20 | 12 | 33 | 25 |
Card Income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 168 | 159 | 324 | 293 |
Loan Servicing Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 42 | 32 | 83 | 68 |
Net Gains (Losses) on Sale of Loans and Foreclosed Real Estate [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 13 | (21) | 16 | (45) |
Total Mortgage Fee Income and Realized Gain on Sale of Loans and Foreclosed Real Estate [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 55 | 11 | 99 | 23 |
Service Fees, Fee Income, Card Income and Mortgage Fee Income and Realized Gain on Sale of Loans and Foreclosed Real Estate [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | $ 910 | $ 834 | $ 1,751 | $ 1,611 |