Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 09, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | Business First Bancshares, Inc. | |
Entity Central Index Key | 1,624,322 | |
Trading Symbol | bfbi | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 7,042,413 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Unaudited Consolidated Balance
Unaudited Consolidated Balance Sheets - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and Due from Banks | $ 33,740,000 | $ 40,911,000 |
Federal Funds Sold | 501,000 | 2,496,000 |
Securities Available for Sale, at Fair Values | 209,672,000 | 210,857,000 |
Mortgage Loans Held for Sale | 240,000 | 0 |
Loans and Lease Receivable, Net of Allowance for Loan Losses of $7,746 at September 30, 2016 and $7,244 at December 31, 2015 | 803,762,000 | 765,148,000 |
Premises and Equipment, Net | 9,538,000 | 9,234,000 |
Accrued Interest Receivable | 3,058,000 | 2,823,000 |
Other Equity Securities | 6,163,000 | 5,350,000 |
Other Real Estate Owned | 1,581,000 | 2,033,000 |
Cash Value of Life Insurance | 22,415,000 | 22,339,000 |
Goodwill | 6,824,000 | 3,376,000 |
Core Deposit Intangible | 2,348,000 | 2,555,000 |
Other Assets | 6,925,000 | 8,967,000 |
Total Assets | 1,106,767,000 | 1,076,089,000 |
LIABILITIES | ||
Noninterest Bearing | 215,000,000 | 222,488,000 |
Interest Bearing | 714,650,000 | 681,748,000 |
Total Deposits | 929,650,000 | 904,236,000 |
Securities Sold Under Agreements to Repurchase | 3,060,000 | 2,435,000 |
Short Term Borrowings | 0 | 3,000,000 |
Long Term Borrowings | 3,000,000 | 0 |
Federal Home Loan Bank Borrowings | 47,588,000 | 49,144,000 |
Accrued Interest Payable | 880,000 | 566,000 |
Other Liabilities | 5,038,000 | 4,259,000 |
Total Liabilities | 989,216,000 | 963,640,000 |
STOCKHOLDERS' EQUITY | ||
Common Stock, $1 Par Value; 10,000,000 Shares Authorized; 7,042,413 and 7,035,913 Shares Issued and Outstanding at September 30, 2016 and December 31, 2015, respectively | 7,042,000 | 7,036,000 |
Additional Paid-in Capital | 86,129,000 | 85,913,000 |
Retained Earnings | 23,210,000 | 20,289,000 |
Accumulated Other Comprehensive Income (Loss) | 1,170,000 | (789,000) |
Total Stockholders' Equity | 117,551,000 | 112,449,000 |
Total Liabilities and Stockholders' Equity | $ 1,106,767,000 | $ 1,076,089,000 |
Unaudited Consolidated Balance3
Unaudited Consolidated Balance Sheets (Parentheticals) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Allowance for loan losses | $ 7,746,000 | $ 7,244,000 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 7,042,413 | 7,035,913 |
Common stock, shares outstanding (in shares) | 7,042,413 | 7,035,913 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest Income: | ||||
Interest and Fees on Loans | $ 10,281,000 | $ 10,068,000 | $ 29,548,000 | $ 25,448,000 |
Interest and Dividends on Securities | 955,000 | 937,000 | 2,858,000 | 2,348,000 |
Interest on Federal Funds Sold and Due From Banks | 43,000 | 46,000 | 161,000 | 150,000 |
Total Interest Income | 11,279,000 | 11,051,000 | 32,567,000 | 27,946,000 |
Interest Expense: | ||||
Interest on Deposits | 1,376,000 | 972,000 | 3,800,000 | 2,875,000 |
Interest on Borrowings | 161,000 | 163,000 | 493,000 | 427,000 |
Total Interest Expense | 1,537,000 | 1,135,000 | 4,293,000 | 3,302,000 |
Net Interest Income | 9,742,000 | 9,916,000 | 28,274,000 | 24,644,000 |
Provision for Loan Losses | 100,000 | 150,000 | 920,000 | 450,000 |
Net Interest Income after Provision for Loan Losses | 9,642,000 | 9,766,000 | 27,354,000 | 24,194,000 |
Other Income: | ||||
Service Charges on Deposit Accounts | 558,000 | 467,000 | 1,541,000 | 1,056,000 |
Gain on Sales of Securities | 2,000 | 231,000 | 2,000 | |
Other Income | 810,000 | 335,000 | 2,307,000 | 1,156,000 |
Total Other Income | 1,368,000 | 804,000 | 4,079,000 | 2,214,000 |
Other Expenses: | ||||
Salaries and Employee Benefits | 5,045,000 | 4,593,000 | 14,768,000 | 11,767,000 |
Occupancy and Equipment Expense | 1,272,000 | 1,027,000 | 3,396,000 | 2,789,000 |
Other Expenses | 2,839,000 | 3,634,000 | 8,543,000 | 7,564,000 |
Total Other Expenses | 9,156,000 | 9,254,000 | 26,707,000 | 22,120,000 |
Income Before Income Taxes | 1,854,000 | 1,316,000 | 4,726,000 | 4,288,000 |
Provision for Income Taxes | 474,000 | 377,000 | 1,101,000 | 1,193,000 |
Net Income | $ 1,380,000 | $ 939,000 | $ 3,625,000 | $ 3,095,000 |
Earnings Per Share: | ||||
Basic (in dollars per share) | $ 0.20 | $ 0.13 | $ 0.52 | $ 0.47 |
Diluted (in dollars per share) | $ 0.19 | $ 0.12 | $ 0.49 | $ 0.45 |
Unaudited Consolidated Stateme5
Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Consolidated Net Income | $ 1,380 | $ 939 | $ 3,625 | $ 3,095 |
Other Comprehensive Income: | ||||
Unrealized Gain on Investment Securities | 537 | 1,879 | 2,738 | 292 |
Reclassification Adjustment for Gains Included in Net Income | 2 | 231 | 2 | |
Income Tax Effect | (183) | (640) | (1,010) | (100) |
Other Comprehensive Income | 354 | 1,241 | 1,959 | 194 |
Consolidated Comprehensive Income | $ 1,734 | $ 2,180 | $ 5,584 | $ 3,289 |
Unaudited Consolidated Stateme6
Unaudited Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances at Dec. 31, 2014 | $ 5,315,000 | $ 57,225,000 | $ 16,948,000 | $ (643,000) | $ 78,845,000 |
Consolidated Net Income | 3,095,000 | 3,095,000 | |||
Other Comprehensive Income (Loss) | 194,000 | 194,000 | |||
Merger Consideration - net | 1,891,000 | 30,519,000 | 32,410,000 | ||
Stock Based Compensation Cost | 366,000 | 366,000 | |||
Stock Repurchase | (170,000) | (1,880,000) | (755,000) | (2,805,000) | |
Balances at Sep. 30, 2015 | 7,036,000 | 86,230,000 | 19,288,000 | (449,000) | 112,105,000 |
Balances at Dec. 31, 2015 | 7,036,000 | 85,913,000 | 20,289,000 | (789,000) | 112,449,000 |
Consolidated Net Income | 3,625,000 | 3,625,000 | |||
Other Comprehensive Income (Loss) | 1,959,000 | 1,959,000 | |||
Stock Based Compensation Cost | 207,000 | 207,000 | |||
Balances at Sep. 30, 2016 | 7,042,000 | 86,129,000 | 23,210,000 | $ 1,170,000 | 117,551,000 |
Cash Dividends Declared, $0.05 Per Share | $ (704,000) | (704,000) | |||
Reclass of Shares Issued | 5,000 | (5,000) | |||
Exercise of Stock Warrants | $ 1,000 | $ 14,000 | $ 15,000 |
Unaudited Consolidated Stateme7
Unaudited Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) | 9 Months Ended |
Sep. 30, 2016$ / shares | |
Retained Earnings [Member] | |
Cash dividends declared (in dollars per share) | $ 0.05 |
Unaudited Consolidated Stateme8
Unaudited Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash Flows From Operating Activities: | ||
Consolidated Net Income | $ 3,625,000 | $ 3,095,000 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ||
Provision for Loan Losses | 920,000 | 450,000 |
Depreciation and Amortization | 956,000 | 847,000 |
Amortization of Purchase Accounting Valuations | (1,374,000) | (1,540,000) |
Noncash Compensation Expense | 207,000 | 364,000 |
Net Amortization of Securities | 1,414,000 | 1,045,000 |
Gain on Sale of Securities | (231,000) | (2,000) |
(Gain) Loss on Sale of Premises and Equipment | (24,000) | 157,000 |
Gain on Sale of Other Real Estate Owned Net of Writedowns | (87,000) | (54,000) |
Increase in Cash Value of Life Insurance | (636,000) | (484,000) |
Provision (Credit) for Deferred Income Taxes | 582,000 | (926,000) |
Changes in Assets and Liabilities: | ||
Increase in Accrued Interest Receivable | (235,000) | (63,000) |
(Increase) Decrease in Other Assets | 450,000 | (503,000) |
Increase (Decrease) in Accrued Interest Payable | 314,000 | (98,000) |
Increase in Other Liabilities | 779,000 | 216,000 |
Net Cash Provided by Operating Activities | 6,660,000 | 2,504,000 |
Cash Flows From Investing Activities: | ||
Purchases of Securities Available for Sale | (44,871,000) | (48,987,000) |
Proceeds from Maturities / Sales of Securities Available for Sale | 30,140,000 | 3,367,000 |
Proceeds from Paydowns of Securities Available for Sale | 17,702,000 | 13,613,000 |
Net Cash Received in Merger | 87,377,000 | |
Purchases of Other Equity Securities | (842,000) | (3,038,000) |
Redemption of Other Equity Securities | 29,000 | 1,902,000 |
Life Insurance Proceeds | 560,000 | |
Net Increase in Loans | (39,373,000) | (43,167,000) |
Proceeds from Sale of Premises and Equipment | 68,000 | |
Purchases of Premises and Equipment | (1,304,000) | (570,000) |
Proceeds from Sales of Other Real Estate | 1,273,000 | 682,000 |
Improvements to Other Real Estate | (102,000) | |
Consideration Settlement to Former AGFC Shareholders | (3,448,000) | (243,000) |
Net (Increase) Decrease in Federal Funds Sold | 1,995,000 | (9,413,000) |
Net Cash Provided by (Used in) Investing Activities | (38,173,000) | 1,523,000 |
Cash Flows From Financing Activities: | ||
Net Increase (Decrease) in Deposits | 25,414,000 | (6,166,000) |
Net Increase (Decrease) in Securities Sold Under Agreements to Repurchase | 625,000 | (1,927,000) |
Net Advances (Repayments) on Federal Home Loan Bank Borrowings | 1,008,000 | (23,821,000) |
Net Increase (Decrease) in Short Term Borrowings | (3,000,000) | 3,000,000 |
Proceeds from Long Term Borrowings | 3,000,000 | |
Repurchase of Common Stock | (2,805,000) | |
Proceeds from Exercise of Stock Warrants | 15,000 | |
Payment of Dividends on Common Stock | (704,000) | |
Net Cash Provided by Financing Activities | 24,342,000 | 15,923,000 |
Net Increase (Decrease) in Cash and Cash Equivalents | (7,171,000) | 19,950,000 |
Cash and Cash Equivalents at Beginning of Period | 40,911,000 | 26,015,000 |
Cash and Cash Equivalents at End of Period | 33,740,000 | 45,965,000 |
Supplemental Disclosures for Cash Flow Information: | ||
Interest on Deposits | 3,464,000 | 2,828,000 |
Interest on Borrowings | 515,000 | 705,000 |
Income Tax Payments | 2,502,000 | |
Supplemental Schedule for Noncash Investing and Financing Activities: | ||
Change in the Unrealized Gain on Securities Available for Sale | 2,969,000 | 294,000 |
Change in Deferred Tax Effect on the Unrealized Gain on Securities Available for Sale | (1,010,000) | (100,000) |
Transfer of Loans to Other Real Estate | $ 632,000 | $ 806,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 – Basis of Presentation – The unaudited consolidated financial statements include the accounts of Business First Bancshares, Inc. (the Company or Bancshares) and its wholly-owned subsidiary, Business First Bank (the Bank), and its wholly-owned subsidiaries, Business First Insurance, LLC and American Gateway Insurance Agency, LLC. The Bank operates in sixteen full service banking centers, one loan production office, and one wealth solutions office in Louisiana (Baton Rouge metro region, Shreveport, Covington, Lafayette, Lake Charles, Houma and New Orleans (LPO)). As a state bank, it is subject to regulation by the Office of Financial Institutions, State of Louisiana, and the Federal Deposit Insurance Corporation, and undergoes periodic examinations by these agencies. The Company is also regulated by the Federal Reserve and is subject to periodic examinations. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the Company’s consolidated balance sheet, statement of income, comprehensive income, changes in stockholders’ equity and cash flows for the periods presented, and all such adjustments are of a normal recurring nature. All material intercompany transactions are eliminated. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the entire year. These interim consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission and, therefore, certain information and footnote disclosures normally presented in accordance with accounting principles generally accepted in the United State of America (“U.S. GAAP”) have been omitted or abbreviated. Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Estimates are used in accounting for, among other items, the allowance for loan losses, useful lives for depreciation and amortization, fair value of financial instruments, deferred taxes, and contingencies. Estimates that are particularly susceptible to significant change for the Company include the determination of the allowance for loan losses and the assessment of deferred tax assets and liabilities and, therefore, are critical accounting policies. Management does not anticipate any material changes to estimates in the near term. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: external market factors such as market interest rates and employment rates, changes to operating policies and procedures, economic conditions in our markets, and changes in applicable banking regulations. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the consolidated financial statements in any individual reporting period presented. |
Note 2 - Reclassifications
Note 2 - Reclassifications | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | Note 2 – Reclassifications – Certain reclassifications may have been made to conform to the classifications adopted for reporting in 2016. These reclassifications have no effect on previously reported net income. |
Note 3 - Mergers and Acquisitio
Note 3 - Mergers and Acquisitions | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | Note 3 – Mergers and Acquisitions – After the close of business on March 31, 2015, the Company merged with American Gateway Financial Corporation (AGFC), parent bank holding company for American Gateway Bank, into which the operations of AGFC merged with the Company. Prior to the merger, AGFC was a full service bank with 10 branches located in the Baton Rouge metro region. As part of the merger, the Company issued common stock, as well as cash, for the outstanding shares of AGFC. The Company believes with this merger, it will not only increase its presence in the Baton Rouge region, but also in Louisiana statewide, by being able to offer more services to its customers. The Company also believes that the merger with AGFC will increase the Company’s core deposits and allow the opportunity to further increase the loan portfolio. Results of operations include the revenues and expenses of the acquired operations from the acquisition date forward. The following table provides the purchase price calculation as of the merger date and the identifiable assets and liabilities assumed at their estimated fair values. The fair value measures were subject to refinement for up to one year after the merger date based on additional information that was obtained by us that existed as of the merger date. Cost and Allocation of Purchase Price for American Gateway Financial Corporation (AGFC): (Dollars in thousands, except per share data) Purchase Price: AGFC Shares Outstanding at March 31, 2015 217,944 Gross Business First Shares Issued for AGFC Shares 2,589,174 Exchange Ratio 11.88 Less: Shares Cashed Out Under Terms of Merger 698,186 Net Business First Shares to be Issued for AGFC Shares 1,890,988 Market Value per Share of Business First Stock 17.66 Aggregate Value of Business First Stock Issued in Merger $ 33,395 Aggregate Cash Consideration Paid in Merger 1,595 Cash Paid to Shareholders Exercising Appraisal Rights 12,867 Total Purchase Price $ 47,857 Net Assets Acquired: Cash and Cash Equivalents $ 98,489 Securities Available for Sale 108,358 Loans and Leases Receivable 143,223 Premises and Equipment, Net 7,395 Cash Value of Life Insurance 4,326 Other Real Estate Owned 593 Core Deposit Intangible 2,762 Other Assets 6,375 Total Assets 371,521 Noninterest Bearing Deposits 80,865 Interest Bearing Deposits 202,442 Total Deposits 283,307 Borrowings 45,509 Other Liabilities 1,672 Total Liabilities 330,488 Net Assets Acquired 41,033 Goodwill Resulting from Merger $ 6,824 |
Note 4 - Earnings Per Common Sh
Note 4 - Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 4 – Earnings per Common Share – Basic earnings per share (EPS) represents income available to common stockholders divided by the weighted average number of common shares outstanding; no dilution for any potentially convertible shares is included in the calculation. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. The potential common shares that may be issued by the Company relate to outstanding stock warrants and stock options. For The Three Months For The Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 1,380 $ 939 $ 3,625 $ 3,095 Denominator: Weighted Average Common Shares Outstanding 7,039,098 7,204,065 7,037,842 6,578,878 Dilutive Effect of Stock Options and Warrants 311,235 293,578 311,235 293,578 Weighted Average Dilutive Common Shares 7,350,333 7,497,643 7,349,077 6,872,456 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.20 $ 0.13 $ 0.52 $ 0.47 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.19 $ 0.12 $ 0.49 $ 0.45 |
Note 5 - Securities
Note 5 - Securities | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 5 – Securities – The amortized cost and fair values of securities available for sale as of September 30, 2016 and December 31, 2015 are summarized as follows: September 30, 2016 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 7,587 $ 119 $ 1 $ 7,705 Corporate Securities 11,155 - 51 11,104 Mortgage-Backed Securities 108,184 582 45 108,721 Municipal Securities 80,144 1,427 43 81,528 Other Securities 828 - 214 614 $ 207,898 $ 2,128 $ 354 $ 209,672 December 31, 2015 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 13,656 $ 43 $ 32 $ 13,667 Corporate Securities 11,177 - 105 11,072 Mortgage-Backed Securities 120,599 39 1,568 119,070 Municipal Securities 65,679 874 112 66,441 Other Securities 942 - 335 607 $ 212,053 $ 956 $ 2,152 $ 210,857 The following table is a summary of securities with gross unrealized losses and fair values at September 30, 2016 and December 31, 2015, aggregated by investment category and length of time in a continued unrealized loss position. Due to the nature of these investments and current prevailing market prices, these unrealized losses are considered a temporary impairment of the securities. September 30, 2016 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Government Agencies $ 1,007 $ 1 $ - $ - $ 1,007 $ 1 Corporate Securities 6,536 29 4,568 22 11,104 51 Mortgage-Backed Securities 2,618 11 10,682 34 13,300 45 Municipal Securities 11,528 41 211 2 11,739 43 Other Securities - - 614 214 614 214 $ 21,689 $ 82 $ 16,075 $ 272 $ 37,764 $ 354 December 31, 2015 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Government Agencies $ 8,840 $ 32 $ - $ - $ 8,840 $ 32 Corporate Securities 11,072 105 - - 11,072 105 Mortgage-Backed Securities 91,384 1,029 23,386 539 114,770 1,568 Municipal Securities 13,983 43 2,498 69 16,481 112 Other Securities - - 607 335 607 335 $ 125,279 $ 1,209 $ 26,491 $ 943 $ 151,770 $ 2,152 Management evaluates securities for other than temporary impairment when economic and market conditions warrant such evaluations. Consideration is given to the extent and length of time the fair value has been below cost, the reasons for the decline in value, and the Company’s intent to sell a security or whether it is more likely than not that the Company will be required to sell the security before the recovery of its amortized cost. The Company developed a process to identify securities that could potentially have a credit impairment that is other than temporary. This process involves evaluating each security for impairment by monitoring credit performance, collateral type, collateral geography, loan-to-value ratios, credit scores, loss severity levels, pricing levels, downgrades by rating agencies, cash flow projections and other factors as indicators of potential credit issues. When the Company determines that a security is deemed to be other than temporarily impaired, an impairment loss is recognized. The amortized cost and fair values of securities available for sale as of September 30, 2016 by contractual maturity are shown below. Actual maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid without any penalties. Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 6,550 $ 6,558 One to Five Years 46,632 47,100 Over Five to Ten Years 54,652 55,365 Over Ten Years 100,064 100,649 $ 207,898 $ 209,672 |
Note 6 - Loans and the Allowanc
Note 6 - Loans and the Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 6 – Loans and the Allowance for Loan Losses – Loans receivable at September 30, 2016 and December 31, 2015 are summarized as follows: September 30, December 31, 2016 2015 (Dollars in thousands) Real estate loans: Construction and land $ 99,189 $ 97,872 Farmland 9,750 8,897 1-4 family residential 128,384 112,954 Multi-family residential 21,420 26,058 Nonfarm nonresidential 286,005 312,207 Commercial 226,406 185,276 Consumer 40,354 29,128 Total loans held for investment 811,508 772,392 Less: Allowance for loan losses (7,746 ) (7,244 ) Net loans $ 803,762 $ 765,148 The performing one-to-four family residential, multi-family residential, commercial real estate, and commercial loans are pledged, under a blanket lien, as collateral securing advances from the FHLB at September 30, 2016 and December 31, 2015. Net deferred loan origination fees were $772,000 and $740,000 at September 30, 2016 and December 31, 2015, respectively, and are netted in their respective loan categories above. In addition to loans issued in the normal course of business, the Company considers overdrafts on customer deposit accounts to be loans, and reclassifies overdrafts as loans in its consolidated balance sheets. At September 30, 2016 and December 31, 2015, overdrafts of $173,000 and $150,000, respectively, have been reclassified to loans. The Bank is the lead lender on participations sold, without recourse, to other financial institutions which are not included in the consolidated balance sheets. The unpaid principal balances of mortgages and other loans serviced for others were approximately $58.9 million and $44.7 million at September 30, 2016 and December 31, 2015, respectively. The Bank grants loans and extensions of credit to individuals and a variety of businesses and corporations located in its general market areas throughout Louisiana. Management segregates the loan portfolio into portfolio segments which is defined as the level at which the Bank develops and documents a systematic method for determining its allowance for loan losses. The portfolio segments are segregated based on loan types and the underlying risk factors present in each loan type. Such risk factors are periodically reviewed by management and revised as deemed appropriate. Loans acquired in business combinations are initially recorded at fair value, which includes an estimate of credit losses expected to be realized over the remaining lives of the loans and, therefore, no corresponding allowance for loan losses is recorded for these loans at acquisition. Methods utilized to estimate any subsequently required allowance for loan losses for acquired loans not deemed credit-impaired at acquisition are similar to originated loans; however, the estimate of loss is based on the unpaid principal balance and then compared to any remaining unaccreted purchase discount. To the extent the calculated loss is greater than the remaining unaccreted discount, an allowance is recorded for such difference. The following table sets forth, as of September 30, 2016 and December 31, 2015, the balance of the allowance for loan losses by portfolio segment, disaggregated by impairment methodology, which is then further segregated by amounts evaluated for impairment collectively and individually. The allowance for loan losses allocated to each portfolio segment is not necessarily indicative of future losses in any particular portfolio segment and does not restrict the use of the allowance to absorb losses in other portfolio segments. Allowance for Credit Losses and Recorded Investment in Loans Receivable September 30, 2016 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning Balance $ 600 $ 30 $ 1,021 $ 101 $ 1,416 $ 3,618 $ 458 $ 7,244 Charge-offs (484 ) - (162 ) - (465 ) (390 ) - (1,501 ) Recoveries 10 - 98 - 908 32 35 1,083 Provision 576 42 496 87 2 (50 ) (233 ) 920 Ending Balance $ 702 $ 72 $ 1,453 $ 188 $ 1,861 $ 3,210 $ 260 $ 7,746 Ending Balance: Individually evaluated for impairment $ - $ - $ 359 $ - $ - $ 560 $ 36 $ 955 Collectively evaluated for impairment $ 702 $ 72 $ 1,040 $ 144 $ 1,861 $ 2,650 $ 224 $ 6,693 Purchased Credit Impaired (1) $ - $ - $ 54 $ 44 $ - $ - $ - $ 98 Loans receivable: Ending Balance $ 99,189 $ 9,750 $ 128,384 $ 21,420 $ 286,005 $ 226,406 $ 40,354 $ 811,508 Ending Balance: Individually evaluated for impairment $ 58 $ - $ 3,696 $ - $ 3,133 $ 5,526 $ 36 $ 12,449 Collectively evaluated for impairment $ 98,964 $ 9,750 $ 124,362 $ 21,225 $ 281,418 $ 220,880 $ 40,318 $ 796,917 Purchased Credit Impaired (1) $ 167 $ - $ 326 $ 195 $ 1,454 $ - $ - $ 2,142 (1) Purchased credit impaired loans are evaluated for impairment on an individual basis. December 31, 2015 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning balance $ 525 $ 19 $ 775 $ 35 $ 1,140 $ 3,813 $ 325 $ 6,632 Charge-offs (102 ) - (144 ) - (44 ) (695 ) - (985 ) Recoveries 34 - 94 - 13 164 92 397 Provision 143 11 296 66 307 336 41 1,200 Ending Balance $ 600 $ 30 $ 1,021 $ 101 $ 1,416 $ 3,618 $ 458 $ 7,244 Ending Balance: Individually evaluated for impairment $ 504 $ - $ 129 $ - $ - $ 475 $ - $ 1,108 Collectively evaluated for impairment $ 96 $ 30 $ 838 $ 57 $ 1,416 $ 3,143 $ 458 $ 6,038 Purchased Credit Impaired (1) $ - $ - $ 54 $ 44 $ - $ - $ - $ 98 Loans receivable: Ending Balance $ 97,872 $ 8,897 $ 112,954 $ 26,058 $ 312,207 $ 185,276 $ 29,128 $ 772,392 Ending Balance: Individually evaluated for impairment $ 1,732 $ - $ 3,666 $ - $ 4,172 $ 2,226 $ - $ 11,796 Collectively evaluated for impairment $ 96,046 $ 8,897 $ 108,778 $ 25,829 $ 305,234 $ 183,050 $ 29,128 $ 756,962 Purchased Credit Impaired (1) $ 94 $ - $ 510 $ 229 $ 2,801 $ - $ - $ 3,634 (1) Purchased credit impaired loans are evaluated for impairment on an individual basis. Management further disaggregates the loan portfolio segments into classes of loans, which are based on the initial measurement of the loan, risk characteristics of the loan and the method for monitoring and assessing the credit risk of the loan. As of September 30, 2016 and December 31, 2015, the credit quality indicators, disaggregated by class of loan, are as follows: Credit Quality Indicators September 30, 2016 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 96,812 $ 1,088 $ 1,131 $ 158 $ 99,189 Farmland 9,750 - - - 9,750 1-4 family residential 117,025 5,135 2,971 3,253 128,384 Multi-family residential 20,743 - 482 195 21,420 Nonfarm nonresidential 259,191 14,907 11,189 718 286,005 Commercial 192,452 22,681 9,348 1,925 226,406 Consumer 39,933 356 65 - 40,354 Total $ 735,906 $ 44,167 $ 25,186 $ 6,249 $ 811,508 December 31, 2015 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 93,740 $ 1,300 $ 1,094 $ 1,738 $ 97,872 Farmland 8,897 - - - 8,897 1-4 family residential 104,720 1,824 3,205 3,205 112,954 Multi-family residential 24,884 945 - 229 26,058 Nonfarm nonresidential 281,503 12,727 16,171 1,806 312,207 Commercial 157,734 22,222 4,341 979 185,276 Consumer 28,702 396 30 - 29,128 Total $ 700,180 $ 39,414 $ 24,841 $ 7,957 $ 772,392 The above classifications follow regulatory guidelines and can generally be described as follows: ● Pass loans are of satisfactory quality. ● Special mention loans have an existing weakness that could cause future impairment, including the deterioration of financial ratios, past due status, questionable management capabilities and possible reduction in the collateral values. ● Substandard loans have an existing specific and well defined weakness that may include poor liquidity and deterioration of financial ratios. The loan may be past due and related deposit accounts experiencing overdrafts. Immediate corrective action is necessary. ● Doubtful loans have specific weaknesses that are severe enough to make collection or liquidation in full highly questionable and improbable. The following table reflects certain information with respect to the loan portfolio delinquencies by loan class and amount as of September 30, 2016 and December 31, 2015. All loans greater than 90 days past due are generally placed on non-accrual status. Aged Analysis of Past Due Loans Receivable September 30, 2016 (Dollars in thousands) Greater Recorded Than 90 Investment Over 30-59 Days 60-89 Days Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ 385 $ - $ 107 $ 492 $ 98,697 $ 99,189 $ - Farmland - - - - 9,750 9,750 - 1-4 family residential 1,171 338 600 2,109 126,275 128,384 - Multi-family residential 239 - - 239 21,181 21,420 - Nonfarm nonresidential 3,103 60 426 3,589 282,416 286,005 - Commercial 416 2,016 217 2,649 223,757 226,406 38 Consumer 148 - - 148 40,206 40,354 - Total $ 5,462 $ 2,414 $ 1,350 $ 9,226 $ 802,282 $ 811,508 $ 38 December 31, 2015 (Dollars in thousands) Greater Recorded Than 90 Investment Over 30-59 Days 60-89 Days Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ - $ 10 $ 384 $ 394 $ 97,478 $ 97,872 $ - Farmland - - - - 8,897 8,897 - 1-4 family residential 289 132 1,086 1,507 111,447 112,954 - Multi-family residential - - - - 26,058 26,058 - Nonfarm nonresidential 1,185 178 309 1,672 310,535 312,207 - Commercial 78 13 - 91 185,185 185,276 - Consumer - - - - 29,128 29,128 - Total $ 1,552 $ 333 $ 1,779 $ 3,664 $ 768,728 $ 772,392 $ - The following is a summary of information pertaining to impaired loans as of September 30, 2016 and December 31, 2015. Acquired non-impaired loans are placed on nonaccrual status and reported as impaired using the same criteria applied to the originated portfolio. Purchased impaired credits are excluded from this table. The interest income recognized for impaired loans was $283,000 and $426,000 for the nine months ending September 30, 2016 and 2015, respectively. September 30, 2016 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ - $ - $ - $ 873 Farmland - - - - 1-4 family residential 514 538 359 349 Multi-family residential - - - - Nonfarm nonresidential - - - - Other Loans: Commercial 735 746 560 1,296 Consumer 36 36 36 4 $ 1,285 $ 1,320 $ 955 $ 2,522 With no allowance recorded: Real Estate Loans: Construction and land $ 58 $ 66 $ - $ 138 Farmland - - - - 1-4 family residential 3,182 3,708 - 3,380 Multi-family residential - - - - Nonfarm nonresidential 3,133 3,154 - 4,174 Other Loans: Commercial 4,791 5,952 - 2,368 Consumer - - - - $ 11,164 $ 12,880 $ - $ 10,060 Total Impaired Loans: Real Estate Loans: Construction and land $ 58 $ 66 $ - $ 1,011 Farmland - - - - 1-4 family residential 3,696 4,246 359 3,729 Multi-family residential - - - - Nonfarm nonresidential 3,133 3,154 - 4,174 Other Loans: Commercial 5,526 6,698 560 3,664 Consumer 36 36 36 4 $ 12,449 $ 14,200 $ 955 $ 12,582 December 31, 2015 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 1,336 $ 1,514 $ 504 $ 1,392 Farmland - - - - 1-4 family residential 305 313 129 78 Multi-family residential - - - - Nonfarm nonresidential - - - - Other Loans: Commercial 975 1,653 475 908 Consumer - - - - $ 2,616 $ 3,480 $ 1,108 $ 2,378 With no allowance recorded: Real Estate Loans: Construction and land $ 396 $ 401 $ - $ 1,530 Farmland - - - - 1-4 family residential 3,361 3,898 - 1,933 Multi-family residential - - - - Nonfarm nonresidential 4,172 5,588 - 4,062 Other Loans: Commercial 1,251 1,255 - 3,368 Consumer - - - 14 $ 9,180 $ 11,142 $ - $ 10,907 Total Impaired Loans: Real Estate Loans: Construction and land $ 1,732 $ 1,915 $ 504 $ 2,922 Farmland - - - - 1-4 family residential 3,666 4,211 129 2,011 Multi-family residential - - - - Nonfarm nonresidential 4,172 5,588 - 4,062 Other Loans: Commercial 2,226 2,908 475 4,276 Consumer - - - 14 $ 11,796 $ 14,622 $ 1,108 $ 13,285 The Company elected to account for certain loans acquired in the AGFC merger as acquired impaired loans under FASB ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310-30”) The following table presents the fair value of loans acquired with deteriorated credit quality as of the date of the AGFC merger. The expected cash flows approximated fair value as of the date of merger and, as a result, no accretable yield was recognized at acquisition. April 1, 2015 (Dollars in thousands) Purchased Impaired Credits: Contractually required principal and interest $ 11,294 Nonaccretable difference 6,375 Cash flows expected to be collected 4,919 Accretable yield - Fair value of Purchased Impaired Credits at Acquisition $ 4,919 The following table presents the changes in the carrying amount of the purchased impaired credits from the April 1, 2015 merger date to September 30, 2016. Purchased Impaired Credits (Dollars in thousands) Carrying amount - April 1, 2015 (acquisition) $ 4,919 Payments received, net of discounts realized (469 ) Charge-offs (204 ) Transfer to Other Real Estate (612 ) Carrying amount - December 31, 2015 3,634 Payments received, net of discounts realized (815 ) Charge-offs (352 ) Transfer to Other Real Estate (325 ) Carrying amount - September 30, 2016 $ 2,142 Total loans acquired in the AGFC merger included $142.8 million of performing loans not accounted for under ASC 310-30, which had an estimated fair value of $138.1 million as of the date of acquisition. As of September 30, 2016 and December 31, 2015, the AGFC performing loans totaled $72.2 million and $93.1 million, respectively, with a related purchase discount of $2.5 million and $3.2 million, respectively. The Bank seeks to assist customers that are experiencing financial difficulty by renegotiating loans within lending regulations and guidelines. The Bank makes loan modifications, primarily utilizing internal renegotiation programs via direct customer contact, that manage customers’ debt exposures held only by the Bank. Additionally, the Bank makes loan modifications with customers who have elected to work with external renegotiation agencies and these modifications provide solutions to customers’ entire unsecured debt structures. During the periods ended September 30, 2016 and December 31, 2015, the concessions granted to certain borrowers included extending the payment due dates, lowering the contractual interest rate, reducing accrued interest, and reducing the debt’s face or maturity amount. Once modified in a troubled debt restructuring, a loan is generally considered impaired until its contractual maturity. At the time of the restructuring, the loan is evaluated for an asset-specific allowance for credit losses. The Bank continues to specifically reevaluate the loan in subsequent periods, regardless of the borrower’s performance under the modified terms. If a borrower subsequently defaults on the loan after it is restructured the Bank provides an allowance for credit losses for the amount of the loan that exceeds the value of the related collateral. The following tables present informative data regarding loan modifications occurring as of September 30, 2016 and December 31, 2015. The Bank had $54,000 in troubled debt restructurings that had subsequently defaulted during the year ended December 31, 2015, and none that subsequently defaulted during the nine months ended September 30, 2016. Modifications as of September 30, 2016: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructing Real Estate Loans: 1-4 family residential 4 $ 1,036 $ 755 Nonfarm nonresidential 1 2,623 2,240 Other Loans: Commercial 4 3,294 1,889 Total Loans 9 $ 6,953 $ 4,884 Modifications as of December 31, 2015: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructing Real Estate Loans: 1-4 family residential 5 $ 1,568 $ 1,008 Nonfarm nonresidential 3 5,143 3,623 Other Loans: Commercial 3 1,736 1,234 Total Loans 11 $ 8,447 $ 5,865 |
Note 7 - Fair Value of Financia
Note 7 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 7 – Fair Value of Financial Instruments – Fair Value Disclosures The Company groups its financial assets and liabilities measured at fair value in three levels. Fair value should be based on the assumptions market participants would use when pricing the asset or liability and establishes a fair value hierarchy that prioritizes the inputs used to develop those assumptions and measure fair value. The hierarchy requires companies to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 – Includes the most reliable sources, and includes quoted prices in active markets for identical assets or liabilities. ● Level 2 – Includes observable inputs. Observable inputs include inputs other than quoted prices that are observable for the asset or liability (for example, interest rates and yield curves at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates) as well as inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs). ● Level 3 – Includes unobservable inputs and should be used only when observable inputs are unavailable. Recurring Basis Fair values of investment securities available for sale were primarily measured using information from a third-party pricing service. This pricing service provides information by utilizing evaluated pricing models supported with market data information. Standard inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, and reference data from market research publications. The following tables present the balance of assets and liabilities measured on a recurring basis as of September 30, 2016 and December 31, 2015. The Company did not record any liabilities at fair value for which measurement of the fair value was made on a recurring basis. Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) September 30, 2016 Available for Sale: U.S. Government Agencies $ 7,705 $ - $ 7,705 $ - Corporate Securities 11,104 - 11,104 - Mortgage-Backed Securities 108,721 - 108,721 - Municipal Securities 81,528 - 81,528 - Other Securities 614 - 614 - Total $ 209,672 $ - $ 209,672 $ - December 31, 2015 Available for Sale: U.S. Government Agencies $ 13,667 $ - $ 13,667 $ - Corporate Securities 11,072 - 11,072 - Mortgage-Backed Securities 119,070 - 119,070 - Municipal Securities 66,441 - 66,441 - Other Securities 607 - 607 - Total $ 210,857 $ - $ 210,857 $ - Nonrecurring Basis The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. The Company did not record any liabilities at fair value for which measurement of the fair value was made on a nonrecurring basis. The fair value of the impaired loans is measured at the fair value of the collateral for collateral-dependent loans. Impaired loans are Level 2 assets measured using appraisals from external parties of the collateral less any prior liens. Repossessed assets are initially recorded at fair value less estimated cost to sell. The fair value of repossessed assets is based on property appraisals and an analysis of similar properties available. As such, the Bank records repossessed assets as Level 2. Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) September 30, 2016 Assets: Impaired Loans $ 13,538 $ - $ 13,538 $ - Repossessed Assets 1,581 - 1,581 - Total $ 15,119 $ - $ 15,119 $ - December 31, 2015 Assets: Impaired Loans $ 14,224 $ - $ 14,224 $ - Repossessed Assets 2,033 - 2,033 - Total $ 16,257 $ - $ 16,257 $ - Fair Value Financial Instruments The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. 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. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. In accordance with generally accepted accounting principles, certain financial instruments and all non-financial instruments are excluded from these disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Cash and Short-Term Investments – For those short-term instruments, the carrying amount is a reasonable estimate of fair value. Securities – Fair value of securities is based on quoted market prices. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Loans – The fair value for loans is estimated using discounted cash flow analyses, with interest rates currently being offered for similar loans to borrowers with similar credit rates. Loans with similar classifications are aggregated for purposes of the calculations. The allowance for loan losses, which was used to measure the credit risk, is subtracted from loans. Cash Value of Bank-Owned Life Insurance (BOLI) – The carrying amount approximates its fair value. Other Equity Securities – The carrying amount approximates its fair value. Deposits – The fair value of demand deposits and certain money market deposits is the amount payable at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using discounted cash flow analyses, with interest rates currently offered for deposits of similar remaining maturities. Borrowings – The fair value of FHLB advances and other long-term borrowings is estimated using the rates currently offered for advances of similar maturities. The carrying amount of short-term borrowings maturing within ninety days approximates the fair value. Commitments to Extend Credit and Standby and Commercial Letters of Credit – The fair values of commitments to extend credit and standby and commercial letters of credit do not differ significantly from the commitment amount and are therefore omitted from this disclosure. The estimated approximate fair values of the Bank’s financial instruments as of September 30, 2016 and December 31, 2015 are as follows: Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Total Assets Inputs Inputs Amount Fair Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) September 30, 2016 Financial Assets: Cash and Short-Term Investments $ 34,241 $ 34,241 $ 34,241 $ - $ - Securities 209,672 209,672 - 209,672 - Mortgage Loans Held for Sale 240 240 - 240 - Loans - Net 803,762 800,544 - - 800,544 Cash Value of BOLI 22,415 22,415 - 22,415 - Other Equity Securities 6,163 6,163 - - 6,163 Total $ 1,076,493 $ 1,073,275 $ 34,241 $ 232,327 $ 806,707 Financial Liabilities: Deposits $ 929,650 $ 914,101 $ - $ - $ 914,101 Borrowings 53,648 53,441 - 53,441 - Total $ 983,298 $ 967,542 $ - $ 53,441 $ 914,101 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Total Assets Inputs Inputs Amount Fair Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) December 31, 2015 Financial Assets: Cash and Short-Term Investments $ 43,407 $ 43,407 $ 43,407 $ - $ - Securities 210,857 210,857 - 210,857 - Loans - Net 765,148 761,241 - - 761,241 Cash Value of BOLI 22,339 22,339 - 22,339 - Other Equity Securities 5,350 5,350 - - 5,350 Total $ 1,047,101 $ 1,043,194 $ 43,407 $ 233,196 $ 766,591 Financial Liabilities: Deposits $ 904,236 $ 897,771 $ - $ - $ 897,771 Borrowings 54,579 54,561 - 54,561 - Total $ 958,815 $ 952,332 $ - $ 54,561 $ 897,771 |
Note 8 - Recently Issued Accoun
Note 8 - Recently Issued Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 8 – Recently Issued Accounting Pronouncements – In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments, In January 2016, the FASB issued ASU No. 2016-16, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments, In January 2016, the FASB issued ASU No. 2016-16, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities. |
Note 3 - Mergers and Acquisit18
Note 3 - Mergers and Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cost and Allocation of Purchase Price for American Gateway Financial Corporation (AGFC): (Dollars in thousands, except per share data) Purchase Price: AGFC Shares Outstanding at March 31, 2015 217,944 Gross Business First Shares Issued for AGFC Shares 2,589,174 Exchange Ratio 11.88 Less: Shares Cashed Out Under Terms of Merger 698,186 Net Business First Shares to be Issued for AGFC Shares 1,890,988 Market Value per Share of Business First Stock 17.66 Aggregate Value of Business First Stock Issued in Merger $ 33,395 Aggregate Cash Consideration Paid in Merger 1,595 Cash Paid to Shareholders Exercising Appraisal Rights 12,867 Total Purchase Price $ 47,857 Net Assets Acquired: Cash and Cash Equivalents $ 98,489 Securities Available for Sale 108,358 Loans and Leases Receivable 143,223 Premises and Equipment, Net 7,395 Cash Value of Life Insurance 4,326 Other Real Estate Owned 593 Core Deposit Intangible 2,762 Other Assets 6,375 Total Assets 371,521 Noninterest Bearing Deposits 80,865 Interest Bearing Deposits 202,442 Total Deposits 283,307 Borrowings 45,509 Other Liabilities 1,672 Total Liabilities 330,488 Net Assets Acquired 41,033 Goodwill Resulting from Merger $ 6,824 |
Note 4 - Earnings Per Common 19
Note 4 - Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For The Three Months For The Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 1,380 $ 939 $ 3,625 $ 3,095 Denominator: Weighted Average Common Shares Outstanding 7,039,098 7,204,065 7,037,842 6,578,878 Dilutive Effect of Stock Options and Warrants 311,235 293,578 311,235 293,578 Weighted Average Dilutive Common Shares 7,350,333 7,497,643 7,349,077 6,872,456 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.20 $ 0.13 $ 0.52 $ 0.47 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.19 $ 0.12 $ 0.49 $ 0.45 |
Note 5 - Securities (Tables)
Note 5 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2016 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 7,587 $ 119 $ 1 $ 7,705 Corporate Securities 11,155 - 51 11,104 Mortgage-Backed Securities 108,184 582 45 108,721 Municipal Securities 80,144 1,427 43 81,528 Other Securities 828 - 214 614 $ 207,898 $ 2,128 $ 354 $ 209,672 December 31, 2015 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 13,656 $ 43 $ 32 $ 13,667 Corporate Securities 11,177 - 105 11,072 Mortgage-Backed Securities 120,599 39 1,568 119,070 Municipal Securities 65,679 874 112 66,441 Other Securities 942 - 335 607 $ 212,053 $ 956 $ 2,152 $ 210,857 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | September 30, 2016 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Government Agencies $ 1,007 $ 1 $ - $ - $ 1,007 $ 1 Corporate Securities 6,536 29 4,568 22 11,104 51 Mortgage-Backed Securities 2,618 11 10,682 34 13,300 45 Municipal Securities 11,528 41 211 2 11,739 43 Other Securities - - 614 214 614 214 $ 21,689 $ 82 $ 16,075 $ 272 $ 37,764 $ 354 December 31, 2015 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Government Agencies $ 8,840 $ 32 $ - $ - $ 8,840 $ 32 Corporate Securities 11,072 105 - - 11,072 105 Mortgage-Backed Securities 91,384 1,029 23,386 539 114,770 1,568 Municipal Securities 13,983 43 2,498 69 16,481 112 Other Securities - - 607 335 607 335 $ 125,279 $ 1,209 $ 26,491 $ 943 $ 151,770 $ 2,152 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 6,550 $ 6,558 One to Five Years 46,632 47,100 Over Five to Ten Years 54,652 55,365 Over Ten Years 100,064 100,649 $ 207,898 $ 209,672 |
Note 6 - Loans and the Allowa21
Note 6 - Loans and the Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2016 2015 (Dollars in thousands) Real estate loans: Construction and land $ 99,189 $ 97,872 Farmland 9,750 8,897 1-4 family residential 128,384 112,954 Multi-family residential 21,420 26,058 Nonfarm nonresidential 286,005 312,207 Commercial 226,406 185,276 Consumer 40,354 29,128 Total loans held for investment 811,508 772,392 Less: Allowance for loan losses (7,746 ) (7,244 ) Net loans $ 803,762 $ 765,148 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | September 30, 2016 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning Balance $ 600 $ 30 $ 1,021 $ 101 $ 1,416 $ 3,618 $ 458 $ 7,244 Charge-offs (484 ) - (162 ) - (465 ) (390 ) - (1,501 ) Recoveries 10 - 98 - 908 32 35 1,083 Provision 576 42 496 87 2 (50 ) (233 ) 920 Ending Balance $ 702 $ 72 $ 1,453 $ 188 $ 1,861 $ 3,210 $ 260 $ 7,746 Ending Balance: Individually evaluated for impairment $ - $ - $ 359 $ - $ - $ 560 $ 36 $ 955 Collectively evaluated for impairment $ 702 $ 72 $ 1,040 $ 144 $ 1,861 $ 2,650 $ 224 $ 6,693 Purchased Credit Impaired (1) $ - $ - $ 54 $ 44 $ - $ - $ - $ 98 Loans receivable: Ending Balance $ 99,189 $ 9,750 $ 128,384 $ 21,420 $ 286,005 $ 226,406 $ 40,354 $ 811,508 Ending Balance: Individually evaluated for impairment $ 58 $ - $ 3,696 $ - $ 3,133 $ 5,526 $ 36 $ 12,449 Collectively evaluated for impairment $ 98,964 $ 9,750 $ 124,362 $ 21,225 $ 281,418 $ 220,880 $ 40,318 $ 796,917 Purchased Credit Impaired (1) $ 167 $ - $ 326 $ 195 $ 1,454 $ - $ - $ 2,142 December 31, 2015 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning balance $ 525 $ 19 $ 775 $ 35 $ 1,140 $ 3,813 $ 325 $ 6,632 Charge-offs (102 ) - (144 ) - (44 ) (695 ) - (985 ) Recoveries 34 - 94 - 13 164 92 397 Provision 143 11 296 66 307 336 41 1,200 Ending Balance $ 600 $ 30 $ 1,021 $ 101 $ 1,416 $ 3,618 $ 458 $ 7,244 Ending Balance: Individually evaluated for impairment $ 504 $ - $ 129 $ - $ - $ 475 $ - $ 1,108 Collectively evaluated for impairment $ 96 $ 30 $ 838 $ 57 $ 1,416 $ 3,143 $ 458 $ 6,038 Purchased Credit Impaired (1) $ - $ - $ 54 $ 44 $ - $ - $ - $ 98 Loans receivable: Ending Balance $ 97,872 $ 8,897 $ 112,954 $ 26,058 $ 312,207 $ 185,276 $ 29,128 $ 772,392 Ending Balance: Individually evaluated for impairment $ 1,732 $ - $ 3,666 $ - $ 4,172 $ 2,226 $ - $ 11,796 Collectively evaluated for impairment $ 96,046 $ 8,897 $ 108,778 $ 25,829 $ 305,234 $ 183,050 $ 29,128 $ 756,962 Purchased Credit Impaired (1) $ 94 $ - $ 510 $ 229 $ 2,801 $ - $ - $ 3,634 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2016 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 96,812 $ 1,088 $ 1,131 $ 158 $ 99,189 Farmland 9,750 - - - 9,750 1-4 family residential 117,025 5,135 2,971 3,253 128,384 Multi-family residential 20,743 - 482 195 21,420 Nonfarm nonresidential 259,191 14,907 11,189 718 286,005 Commercial 192,452 22,681 9,348 1,925 226,406 Consumer 39,933 356 65 - 40,354 Total $ 735,906 $ 44,167 $ 25,186 $ 6,249 $ 811,508 December 31, 2015 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 93,740 $ 1,300 $ 1,094 $ 1,738 $ 97,872 Farmland 8,897 - - - 8,897 1-4 family residential 104,720 1,824 3,205 3,205 112,954 Multi-family residential 24,884 945 - 229 26,058 Nonfarm nonresidential 281,503 12,727 16,171 1,806 312,207 Commercial 157,734 22,222 4,341 979 185,276 Consumer 28,702 396 30 - 29,128 Total $ 700,180 $ 39,414 $ 24,841 $ 7,957 $ 772,392 |
Past Due Financing Receivables [Table Text Block] | September 30, 2016 (Dollars in thousands) Greater Recorded Than 90 Investment Over 30-59 Days 60-89 Days Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ 385 $ - $ 107 $ 492 $ 98,697 $ 99,189 $ - Farmland - - - - 9,750 9,750 - 1-4 family residential 1,171 338 600 2,109 126,275 128,384 - Multi-family residential 239 - - 239 21,181 21,420 - Nonfarm nonresidential 3,103 60 426 3,589 282,416 286,005 - Commercial 416 2,016 217 2,649 223,757 226,406 38 Consumer 148 - - 148 40,206 40,354 - Total $ 5,462 $ 2,414 $ 1,350 $ 9,226 $ 802,282 $ 811,508 $ 38 December 31, 2015 (Dollars in thousands) Greater Recorded Than 90 Investment Over 30-59 Days 60-89 Days Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ - $ 10 $ 384 $ 394 $ 97,478 $ 97,872 $ - Farmland - - - - 8,897 8,897 - 1-4 family residential 289 132 1,086 1,507 111,447 112,954 - Multi-family residential - - - - 26,058 26,058 - Nonfarm nonresidential 1,185 178 309 1,672 310,535 312,207 - Commercial 78 13 - 91 185,185 185,276 - Consumer - - - - 29,128 29,128 - Total $ 1,552 $ 333 $ 1,779 $ 3,664 $ 768,728 $ 772,392 $ - |
Impaired Financing Receivables [Table Text Block] | September 30, 2016 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ - $ - $ - $ 873 Farmland - - - - 1-4 family residential 514 538 359 349 Multi-family residential - - - - Nonfarm nonresidential - - - - Other Loans: Commercial 735 746 560 1,296 Consumer 36 36 36 4 $ 1,285 $ 1,320 $ 955 $ 2,522 With no allowance recorded: Real Estate Loans: Construction and land $ 58 $ 66 $ - $ 138 Farmland - - - - 1-4 family residential 3,182 3,708 - 3,380 Multi-family residential - - - - Nonfarm nonresidential 3,133 3,154 - 4,174 Other Loans: Commercial 4,791 5,952 - 2,368 Consumer - - - - $ 11,164 $ 12,880 $ - $ 10,060 Total Impaired Loans: Real Estate Loans: Construction and land $ 58 $ 66 $ - $ 1,011 Farmland - - - - 1-4 family residential 3,696 4,246 359 3,729 Multi-family residential - - - - Nonfarm nonresidential 3,133 3,154 - 4,174 Other Loans: Commercial 5,526 6,698 560 3,664 Consumer 36 36 36 4 $ 12,449 $ 14,200 $ 955 $ 12,582 December 31, 2015 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 1,336 $ 1,514 $ 504 $ 1,392 Farmland - - - - 1-4 family residential 305 313 129 78 Multi-family residential - - - - Nonfarm nonresidential - - - - Other Loans: Commercial 975 1,653 475 908 Consumer - - - - $ 2,616 $ 3,480 $ 1,108 $ 2,378 With no allowance recorded: Real Estate Loans: Construction and land $ 396 $ 401 $ - $ 1,530 Farmland - - - - 1-4 family residential 3,361 3,898 - 1,933 Multi-family residential - - - - Nonfarm nonresidential 4,172 5,588 - 4,062 Other Loans: Commercial 1,251 1,255 - 3,368 Consumer - - - 14 $ 9,180 $ 11,142 $ - $ 10,907 Total Impaired Loans: Real Estate Loans: Construction and land $ 1,732 $ 1,915 $ 504 $ 2,922 Farmland - - - - 1-4 family residential 3,666 4,211 129 2,011 Multi-family residential - - - - Nonfarm nonresidential 4,172 5,588 - 4,062 Other Loans: Commercial 2,226 2,908 475 4,276 Consumer - - - 14 $ 11,796 $ 14,622 $ 1,108 $ 13,285 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | April 1, 2015 (Dollars in thousands) Purchased Impaired Credits: Contractually required principal and interest $ 11,294 Nonaccretable difference 6,375 Cash flows expected to be collected 4,919 Accretable yield - Fair value of Purchased Impaired Credits at Acquisition $ 4,919 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net [Table Text Block] | Purchased Impaired Credits (Dollars in thousands) Carrying amount - April 1, 2015 (acquisition) $ 4,919 Payments received, net of discounts realized (469 ) Charge-offs (204 ) Transfer to Other Real Estate (612 ) Carrying amount - December 31, 2015 3,634 Payments received, net of discounts realized (815 ) Charge-offs (352 ) Transfer to Other Real Estate (325 ) Carrying amount - September 30, 2016 $ 2,142 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Modifications as of September 30, 2016: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructing Real Estate Loans: 1-4 family residential 4 $ 1,036 $ 755 Nonfarm nonresidential 1 2,623 2,240 Other Loans: Commercial 4 3,294 1,889 Total Loans 9 $ 6,953 $ 4,884 Modifications as of December 31, 2015: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructing Real Estate Loans: 1-4 family residential 5 $ 1,568 $ 1,008 Nonfarm nonresidential 3 5,143 3,623 Other Loans: Commercial 3 1,736 1,234 Total Loans 11 $ 8,447 $ 5,865 |
Note 7 - Fair Value of Financ22
Note 7 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) September 30, 2016 Available for Sale: U.S. Government Agencies $ 7,705 $ - $ 7,705 $ - Corporate Securities 11,104 - 11,104 - Mortgage-Backed Securities 108,721 - 108,721 - Municipal Securities 81,528 - 81,528 - Other Securities 614 - 614 - Total $ 209,672 $ - $ 209,672 $ - December 31, 2015 Available for Sale: U.S. Government Agencies $ 13,667 $ - $ 13,667 $ - Corporate Securities 11,072 - 11,072 - Mortgage-Backed Securities 119,070 - 119,070 - Municipal Securities 66,441 - 66,441 - Other Securities 607 - 607 - Total $ 210,857 $ - $ 210,857 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) September 30, 2016 Assets: Impaired Loans $ 13,538 $ - $ 13,538 $ - Repossessed Assets 1,581 - 1,581 - Total $ 15,119 $ - $ 15,119 $ - December 31, 2015 Assets: Impaired Loans $ 14,224 $ - $ 14,224 $ - Repossessed Assets 2,033 - 2,033 - Total $ 16,257 $ - $ 16,257 $ - |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Total Assets Inputs Inputs Amount Fair Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) September 30, 2016 Financial Assets: Cash and Short-Term Investments $ 34,241 $ 34,241 $ 34,241 $ - $ - Securities 209,672 209,672 - 209,672 - Mortgage Loans Held for Sale 240 240 - 240 - Loans - Net 803,762 800,544 - - 800,544 Cash Value of BOLI 22,415 22,415 - 22,415 - Other Equity Securities 6,163 6,163 - - 6,163 Total $ 1,076,493 $ 1,073,275 $ 34,241 $ 232,327 $ 806,707 Financial Liabilities: Deposits $ 929,650 $ 914,101 $ - $ - $ 914,101 Borrowings 53,648 53,441 - 53,441 - Total $ 983,298 $ 967,542 $ - $ 53,441 $ 914,101 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Total Assets Inputs Inputs Amount Fair Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) December 31, 2015 Financial Assets: Cash and Short-Term Investments $ 43,407 $ 43,407 $ 43,407 $ - $ - Securities 210,857 210,857 - 210,857 - Loans - Net 765,148 761,241 - - 761,241 Cash Value of BOLI 22,339 22,339 - 22,339 - Other Equity Securities 5,350 5,350 - - 5,350 Total $ 1,047,101 $ 1,043,194 $ 43,407 $ 233,196 $ 766,591 Financial Liabilities: Deposits $ 904,236 $ 897,771 $ - $ - $ 897,771 Borrowings 54,579 54,561 - 54,561 - Total $ 958,815 $ 952,332 $ - $ 54,561 $ 897,771 |
Note 3 - Mergers and Acquisit23
Note 3 - Mergers and Acquisitions (Details Textual) | Sep. 30, 2016 |
American Gateway Financial Corporation [Member] | |
Number of Branches | 10 |
Note 3 - Mergers and Acquisit24
Note 3 - Mergers and Acquisitions - Cost of Acquisition and Allocation of Purchase Price (Details) | 9 Months Ended | ||
Sep. 30, 2016USD ($)$ / sharesshares | Mar. 31, 2016shares | Dec. 31, 2015USD ($) | |
American Gateway Financial Corporation [Member] | |||
AGFC Shares Outstanding at March 31, 2015 (in shares) | shares | 217,944 | ||
Gross Business First Shares Issued for AGFC Shares (in shares) | shares | 2,589,174 | ||
Exchange Ratio | 11.88 | ||
Less: Shares Cashed Out Under Terms of Merger (in shares) | shares | 698,186 | ||
Net Business First Shares to be Issued for AGFC Shares (in shares) | shares | 1,890,988 | ||
Market Value per Share of Business First Stock (in dollars per share) | $ / shares | $ 17.66 | ||
Aggregate Value of Business First Stock Issued in Merger | $ 33,395,000 | ||
Aggregate Cash Consideration Paid in Merger | 1,595,000 | ||
Cash Paid to Shareholders Exercising Appraisal Rights | 12,867,000 | ||
Total Purchase Price | 47,857,000 | ||
Net Assets Acquired: | |||
Cash and Cash Equivalents | 98,489,000 | ||
Securities Available for Sale | 108,358,000 | ||
Loans and Leases Receivable | 143,223,000 | ||
Premises and Equipment, Net | 7,395,000 | ||
Cash Value of Life Insurance | 4,326,000 | ||
Other Real Estate Owned | 593,000 | ||
Core Deposit Intangible | 2,762,000 | ||
Other Assets | 6,375,000 | ||
Total Assets | 371,521,000 | ||
Noninterest Bearing Deposits | 80,865,000 | ||
Interest Bearing Deposits | 202,442,000 | ||
Total Deposits | 283,307,000 | ||
Borrowings | 45,509,000 | ||
Other Liabilities | 1,672,000 | ||
Total Liabilities | 330,488,000 | ||
Net Assets Acquired | 41,033,000 | ||
Goodwill | 6,824,000 | ||
Goodwill | $ 6,824,000 | $ 3,376,000 |
Note 4 - Earnings per Common 25
Note 4 - Earnings per Common Share - Computation of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Consolidated Net Income | $ 1,380 | $ 939 | $ 3,625 | $ 3,095 |
Weighted Average Common Shares Outstanding (in shares) | 7,039,098 | 7,204,065 | 7,037,842 | 6,578,878 |
Dilutive Effect of Stock Options and Warrants (in shares) | 311,235 | 293,578 | 311,235 | 293,578 |
Weighted Average Dilutive Common Shares (in shares) | 7,350,333 | 7,497,643 | 7,349,077 | 6,872,456 |
Basic (in dollars per share) | $ 0.20 | $ 0.13 | $ 0.52 | $ 0.47 |
Diluted (in dollars per share) | $ 0.19 | $ 0.12 | $ 0.49 | $ 0.45 |
Note 5 - Securities - Amortized
Note 5 - Securities - Amortized Cost and Fair Values of Securities Available-for-Sale (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
US Government Agencies Debt Securities [Member] | ||
Amortized Cost | $ 7,587,000 | $ 13,656,000 |
Gross Unrealized Gains | 119,000 | 43,000 |
Gross Unrealized Losses | 1,000 | 32,000 |
Securities Available for Sale, at Fair Values | 7,705,000 | 13,667,000 |
Corporate Debt Securities [Member] | ||
Amortized Cost | 11,155,000 | 11,177,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 51,000 | 105,000 |
Securities Available for Sale, at Fair Values | 11,104,000 | 11,072,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized Cost | 108,184,000 | 120,599,000 |
Gross Unrealized Gains | 582,000 | 39,000 |
Gross Unrealized Losses | 45,000 | 1,568,000 |
Securities Available for Sale, at Fair Values | 108,721,000 | 119,070,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized Cost | 80,144,000 | 65,679,000 |
Gross Unrealized Gains | 1,427,000 | 874,000 |
Gross Unrealized Losses | 43,000 | 112,000 |
Securities Available for Sale, at Fair Values | 81,528,000 | 66,441,000 |
Other Debt Obligations [Member] | ||
Amortized Cost | 828,000 | 942,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 214,000 | 335,000 |
Securities Available for Sale, at Fair Values | 614,000 | 607,000 |
Amortized Cost | 207,898,000 | 212,053,000 |
Gross Unrealized Gains | 2,128,000 | 956,000 |
Gross Unrealized Losses | 354,000 | 2,152,000 |
Securities Available for Sale, at Fair Values | $ 209,672,000 | $ 210,857,000 |
Note 5 - Securities - Summary o
Note 5 - Securities - Summary of Securities with Gross Unrealized Losses and Fair Values (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
US Government Agencies Debt Securities [Member] | ||
Fair Value, Less Than 12 Months | $ 1,007,000 | $ 8,840,000 |
Gross Unrealized Losses, Less Than 12 Months | 1,000 | 32,000 |
Fair Value, 12 Months or Greater | 0 | 0 |
Gross Unrealized Losses, 12 Months or Greater | 0 | 0 |
Fair Value | 1,007,000 | 8,840,000 |
Gross Unrealized Losses | 1,000 | 32,000 |
Fair Value | 1,007,000 | 8,840,000 |
Gross Unrealized Losses | 1,000 | 32,000 |
Corporate Debt Securities [Member] | ||
Fair Value, Less Than 12 Months | 6,536,000 | 11,072,000 |
Gross Unrealized Losses, Less Than 12 Months | 29,000 | 105,000 |
Fair Value, 12 Months or Greater | 4,568,000 | 0 |
Gross Unrealized Losses, 12 Months or Greater | 22,000 | 0 |
Fair Value | 11,104,000 | 11,072,000 |
Gross Unrealized Losses | 51,000 | 105,000 |
Fair Value | 11,104,000 | 11,072,000 |
Gross Unrealized Losses | 51,000 | 105,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Less Than 12 Months | 2,618,000 | 91,384,000 |
Gross Unrealized Losses, Less Than 12 Months | 11,000 | 1,029,000 |
Fair Value, 12 Months or Greater | 10,682,000 | 23,386,000 |
Gross Unrealized Losses, 12 Months or Greater | 34,000 | 539,000 |
Fair Value | 13,300,000 | 114,770,000 |
Gross Unrealized Losses | 45,000 | 1,568,000 |
Fair Value | 13,300,000 | 114,770,000 |
Gross Unrealized Losses | 45,000 | 1,568,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Fair Value, Less Than 12 Months | 11,528,000 | 13,983,000 |
Gross Unrealized Losses, Less Than 12 Months | 41,000 | 43,000 |
Fair Value, 12 Months or Greater | 211,000 | 2,498,000 |
Gross Unrealized Losses, 12 Months or Greater | 2,000 | 69,000 |
Fair Value | 11,739,000 | 16,481,000 |
Gross Unrealized Losses | 43,000 | 112,000 |
Fair Value | 11,739,000 | 16,481,000 |
Gross Unrealized Losses | 43,000 | 112,000 |
Other Debt Obligations [Member] | ||
Fair Value, Less Than 12 Months | 0 | 0 |
Gross Unrealized Losses, Less Than 12 Months | 0 | 0 |
Fair Value, 12 Months or Greater | 614,000 | 607,000 |
Gross Unrealized Losses, 12 Months or Greater | 214,000 | 335,000 |
Fair Value | 614,000 | 607,000 |
Gross Unrealized Losses | 214,000 | 335,000 |
Fair Value | 614,000 | 607,000 |
Gross Unrealized Losses | 214,000 | 335,000 |
Fair Value, Less Than 12 Months | 21,689,000 | 125,279,000 |
Gross Unrealized Losses, Less Than 12 Months | 82,000 | 1,209,000 |
Fair Value, 12 Months or Greater | 16,075,000 | 26,491,000 |
Gross Unrealized Losses, 12 Months or Greater | 272,000 | 943,000 |
Fair Value | 37,764,000 | 151,770,000 |
Gross Unrealized Losses | 354,000 | 2,152,000 |
Fair Value | 37,764,000 | 151,770,000 |
Gross Unrealized Losses | $ 354,000 | $ 2,152,000 |
Note 5 - Securities - Summary28
Note 5 - Securities - Summary of Amortized Cost and Fair Values of Securities Available for Sale by Contractual Maturity (Details) $ in Thousands | Sep. 30, 2016USD ($) |
Less Than One Year, Amortized Cost | $ 6,550 |
Less Than One Year, Fair Value | 6,558 |
One to Five Years, Amortized Cost | 46,632 |
One to Five Years, Fair Value | 47,100 |
Over Five to Ten Years, Amortized Cost | 54,652 |
Over Five to Ten Years, Fair Value | 55,365 |
Over Ten Years, Amortized Cost | 100,064 |
Over Ten Years, Fair Value | 100,649 |
Amortized Cost | 207,898 |
Fair Value | $ 209,672 |
Note 6 - Loans and the Allowa29
Note 6 - Loans and the Allowance for Loan Losses (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Apr. 01, 2015 | |
American Gateway Financial Corporation [Member] | Performing Financial Instruments [Member] | ||||
Loans and Leases Receivable, Deferred Income | $ 2,500,000 | $ 3,200,000 | ||
Loans and Leases Receivable, Net of Deferred Income | 72,200,000 | 93,100,000 | $ 142,800,000 | |
Loans Receivable, Fair Value Disclosure | $ 138,100,000 | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 54,000,000 | ||
Loans and Leases Receivable, Deferred Income | 772,000,000 | 740,000,000 | ||
Loans and Leases Receivable Reclassified from Overdraft | 173,000,000 | 150,000,000 | ||
Loans Receivable, Unpaid Principal Balance | 58,900,000 | 44,700,000 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 283,000,000 | $ 426,000,000 | ||
Loans and Leases Receivable, Net of Deferred Income | $ 811,508,000 | $ 772,392,000 |
Note 6 - Loans and the Allowa30
Note 6 - Loans and the Allowance for Loan Losses - Summary of Loans Receivable (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 99,189,000 | $ 97,872,000 | |
Allowance for loan losses | (702,000) | (600,000) | $ (525,000) |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 9,750,000 | 8,897,000 | |
Allowance for loan losses | (72,000) | (30,000) | (19,000) |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 286,005,000 | 312,207,000 | |
Allowance for loan losses | (1,861,000) | (1,416,000) | (1,140,000) |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 128,384,000 | 112,954,000 | |
Allowance for loan losses | (1,453,000) | (1,021,000) | (775,000) |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 21,420,000 | 26,058,000 | |
Allowance for loan losses | (188,000) | (101,000) | (35,000) |
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 226,406,000 | 185,276,000 | |
Allowance for loan losses | (3,210,000) | (3,618,000) | (3,813,000) |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 40,354,000 | 29,128,000 | |
Allowance for loan losses | (260,000) | (458,000) | (325,000) |
Loans and Leases Receivable, Net of Deferred Income | 811,508,000 | 772,392,000 | |
Allowance for loan losses | (7,746,000) | (7,244,000) | $ (6,632,000) |
Net loans | $ 803,762,000 | $ 765,148,000 |
Note 6 - Loans and the Allowa31
Note 6 - Loans and the Allowance for Loan Losses - Summary of Allowance for Credit Losses and Recorded Investment in Loans Receivable (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||||||
Allowance for credit losses, Beginning Balance | $ 600,000 | $ 525,000 | $ 525,000 | |||
Allowance for credit losses, Charge-offs | (484,000) | (102,000) | ||||
Allowance for credit losses, Recoveries | 10,000 | 34,000 | ||||
Allowance for credit losses, Provision | 576,000 | 143,000 | ||||
Allowance for credit losses, Ending Balance | $ 702,000 | 702,000 | 600,000 | |||
Allowance for credit losses, Individually evaluated for impairment | 0 | 0 | 504,000 | |||
Allowance for credit losses, Collectively evaluated for impairment | 702,000 | 702,000 | 96,000 | |||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 99,189,000 | 99,189,000 | 97,872,000 | |||
Loans receivable, Individually evaluated for impairment | 58,000 | 58,000 | 1,732,000 | |||
Loans receivable, Collectively evaluated for impairment | 98,964,000 | 98,964,000 | 96,046,000 | |||
Loans receivable, Purchased Credit Impaired | [1] | 167,000 | 167,000 | 94,000 | ||
Loans receivable, Purchased Credit Impaired | [1] | 167,000 | 167,000 | 94,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||||||
Allowance for credit losses, Beginning Balance | 30,000 | 19,000 | 19,000 | |||
Allowance for credit losses, Charge-offs | 0 | 0 | ||||
Allowance for credit losses, Recoveries | 0 | 0 | ||||
Allowance for credit losses, Provision | 42,000 | 11,000 | ||||
Allowance for credit losses, Ending Balance | 72,000 | 72,000 | 30,000 | |||
Allowance for credit losses, Individually evaluated for impairment | 0 | 0 | 0 | |||
Allowance for credit losses, Collectively evaluated for impairment | 72,000 | 72,000 | 30,000 | |||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 9,750,000 | 9,750,000 | 8,897,000 | |||
Loans receivable, Individually evaluated for impairment | 0 | 0 | 0 | |||
Loans receivable, Collectively evaluated for impairment | 9,750,000 | 9,750,000 | 8,897,000 | |||
Loans receivable, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Loans receivable, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||||||
Allowance for credit losses, Beginning Balance | 1,416,000 | 1,140,000 | 1,140,000 | |||
Allowance for credit losses, Charge-offs | (465,000) | (44,000) | ||||
Allowance for credit losses, Recoveries | 908,000 | 13,000 | ||||
Allowance for credit losses, Provision | 2,000 | 307,000 | ||||
Allowance for credit losses, Ending Balance | 1,861,000 | 1,861,000 | 1,416,000 | |||
Allowance for credit losses, Individually evaluated for impairment | 0 | 0 | 0 | |||
Allowance for credit losses, Collectively evaluated for impairment | 1,861,000 | 1,861,000 | 1,416,000 | |||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 286,005,000 | 286,005,000 | 312,207,000 | |||
Loans receivable, Individually evaluated for impairment | 3,133,000 | 3,133,000 | 4,172,000 | |||
Loans receivable, Collectively evaluated for impairment | 281,418,000 | 281,418,000 | 305,234,000 | |||
Loans receivable, Purchased Credit Impaired | [1] | 1,454,000 | 1,454,000 | 2,801,000 | ||
Loans receivable, Purchased Credit Impaired | [1] | 1,454,000 | 1,454,000 | 2,801,000 | ||
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||||||
Allowance for credit losses, Beginning Balance | 1,021,000 | 775,000 | 775,000 | |||
Allowance for credit losses, Charge-offs | (162,000) | (144,000) | ||||
Allowance for credit losses, Recoveries | 98,000 | 94,000 | ||||
Allowance for credit losses, Provision | 496,000 | 296,000 | ||||
Allowance for credit losses, Ending Balance | 1,453,000 | 1,453,000 | 1,021,000 | |||
Allowance for credit losses, Individually evaluated for impairment | 359,000 | 359,000 | 129,000 | |||
Allowance for credit losses, Collectively evaluated for impairment | 1,040,000 | 1,040,000 | 838,000 | |||
Allowance for credit losses, Purchased Credit Impaired | [1] | 54,000 | 54,000 | 54,000 | ||
Loans and Leases Receivable, Net of Deferred Income | 128,384,000 | 128,384,000 | 112,954,000 | |||
Loans receivable, Individually evaluated for impairment | 3,696,000 | 3,696,000 | 3,666,000 | |||
Loans receivable, Collectively evaluated for impairment | 124,362,000 | 124,362,000 | 108,778,000 | |||
Loans receivable, Purchased Credit Impaired | [1] | 326,000 | 326,000 | 510,000 | ||
Loans receivable, Purchased Credit Impaired | [1] | 326,000 | 326,000 | 510,000 | ||
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||||||
Allowance for credit losses, Beginning Balance | 101,000 | 35,000 | 35,000 | |||
Allowance for credit losses, Charge-offs | 0 | 0 | ||||
Allowance for credit losses, Recoveries | 0 | 0 | ||||
Allowance for credit losses, Provision | 87,000 | 66,000 | ||||
Allowance for credit losses, Ending Balance | 188,000 | 188,000 | 101,000 | |||
Allowance for credit losses, Individually evaluated for impairment | 0 | 0 | 0 | |||
Allowance for credit losses, Collectively evaluated for impairment | 144,000 | 144,000 | 57,000 | |||
Allowance for credit losses, Purchased Credit Impaired | [1] | 44,000 | 44,000 | 44,000 | ||
Loans and Leases Receivable, Net of Deferred Income | 21,420,000 | 21,420,000 | 26,058,000 | |||
Loans receivable, Individually evaluated for impairment | 0 | 0 | 0 | |||
Loans receivable, Collectively evaluated for impairment | 21,225,000 | 21,225,000 | 25,829,000 | |||
Loans receivable, Purchased Credit Impaired | [1] | 195,000 | 195,000 | 229,000 | ||
Loans receivable, Purchased Credit Impaired | [1] | 195,000 | 195,000 | 229,000 | ||
Commercial Portfolio Segment [Member] | ||||||
Allowance for credit losses, Beginning Balance | 3,618,000 | 3,813,000 | 3,813,000 | |||
Allowance for credit losses, Charge-offs | (390,000) | (695,000) | ||||
Allowance for credit losses, Recoveries | 32,000 | 164,000 | ||||
Allowance for credit losses, Provision | (50,000) | 336,000 | ||||
Allowance for credit losses, Ending Balance | 3,210,000 | 3,210,000 | 3,618,000 | |||
Allowance for credit losses, Individually evaluated for impairment | 560,000 | 560,000 | 475,000 | |||
Allowance for credit losses, Collectively evaluated for impairment | 2,650,000 | 2,650,000 | 3,143,000 | |||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 226,406,000 | 226,406,000 | 185,276,000 | |||
Loans receivable, Individually evaluated for impairment | 5,526,000 | 5,526,000 | 2,226,000 | |||
Loans receivable, Collectively evaluated for impairment | 220,880,000 | 220,880,000 | 183,050,000 | |||
Loans receivable, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Loans receivable, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Consumer Portfolio Segment [Member] | ||||||
Allowance for credit losses, Beginning Balance | 458,000 | 325,000 | 325,000 | |||
Allowance for credit losses, Charge-offs | 0 | 0 | ||||
Allowance for credit losses, Recoveries | 35,000 | 92,000 | ||||
Allowance for credit losses, Provision | (233,000) | 41,000 | ||||
Allowance for credit losses, Ending Balance | 260,000 | 260,000 | 458,000 | |||
Allowance for credit losses, Individually evaluated for impairment | 36,000 | 36,000 | 0 | |||
Allowance for credit losses, Collectively evaluated for impairment | 224,000 | 224,000 | 458,000 | |||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 40,354,000 | 40,354,000 | 29,128,000 | |||
Loans receivable, Individually evaluated for impairment | 36,000 | 36,000 | 0 | |||
Loans receivable, Collectively evaluated for impairment | 40,318,000 | 40,318,000 | 29,128,000 | |||
Loans receivable, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Loans receivable, Purchased Credit Impaired | [1] | 0 | 0 | 0 | ||
Allowance for credit losses, Beginning Balance | 7,244,000 | 6,632,000 | 6,632,000 | |||
Allowance for credit losses, Charge-offs | (1,501,000) | (985,000) | ||||
Allowance for credit losses, Recoveries | 1,083,000 | 397,000 | ||||
Allowance for credit losses, Provision | 100,000 | $ 150,000 | 920,000 | $ 450,000 | 1,200,000 | |
Allowance for credit losses, Ending Balance | 7,746,000 | 7,746,000 | 7,244,000 | |||
Allowance for credit losses, Individually evaluated for impairment | 955,000 | 955,000 | 1,108,000 | |||
Allowance for credit losses, Collectively evaluated for impairment | 6,693,000 | 6,693,000 | 6,038,000 | |||
Allowance for credit losses, Purchased Credit Impaired | [1] | 98,000 | 98,000 | 98,000 | ||
Loans and Leases Receivable, Net of Deferred Income | 811,508,000 | 811,508,000 | 772,392,000 | |||
Loans receivable, Individually evaluated for impairment | 12,449,000 | 12,449,000 | 11,796,000 | |||
Loans receivable, Collectively evaluated for impairment | 796,917,000 | 796,917,000 | 756,962,000 | |||
Loans receivable, Purchased Credit Impaired | [1] | 2,142,000 | 2,142,000 | 3,634,000 | ||
Loans receivable, Purchased Credit Impaired | [1] | $ 2,142,000 | $ 2,142,000 | $ 3,634,000 | ||
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 6 - Loans and the Allowa32
Note 6 - Loans and the Allowance for Loan Losses - Summary of Credit Quality Indicators, Disaggregated by Class of Loan (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Pass [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | $ 96,812 | $ 93,740 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Special Mention [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 1,088 | 1,300 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Substandard [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 1,131 | 1,094 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Doubtful [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 158 | 1,738 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 99,189 | 97,872 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 9,750 | 8,897 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Substandard [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Doubtful [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 9,750 | 8,897 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Pass [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 259,191 | 281,503 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Special Mention [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 14,907 | 12,727 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Substandard [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 11,189 | 16,171 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Doubtful [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 718 | 1,806 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 286,005 | 312,207 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Pass [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 117,025 | 104,720 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Special Mention [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 5,135 | 1,824 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Substandard [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 2,971 | 3,205 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Doubtful [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 3,253 | 3,205 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 128,384 | 112,954 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Pass [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 20,743 | 24,884 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Special Mention [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 945 | |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Substandard [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 482 | |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Doubtful [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 195 | 229 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 21,420 | 26,058 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 192,452 | 157,734 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 22,681 | 22,222 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 9,348 | 4,341 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 1,925 | 979 |
Commercial Portfolio Segment [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 226,406 | 185,276 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 39,933 | 28,702 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 356 | 396 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 65 | 30 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | ||
Consumer Portfolio Segment [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 40,354 | 29,128 |
Pass [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 735,906 | 700,180 |
Special Mention [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 44,167 | 39,414 |
Substandard [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 25,186 | 24,841 |
Doubtful [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | 6,249 | 7,957 |
Loans and Leases Receivable, Net of Deferred Income | $ 811,508 | $ 772,392 |
Note 6 - Loans and the Allowa33
Note 6 - Loans and the Allowance for Loan Losses - Summary of Aged Analysis of Past Due Loans Receivable (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | $ 385,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 10,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 107,000 | 384,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Past Due | 492,000 | 394,000 |
Current | 98,697,000 | 97,478,000 |
Loans and Leases Receivable, Net of Deferred Income | 99,189,000 | 97,872,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Past Due | ||
Current | 9,750,000 | 8,897,000 |
Loans and Leases Receivable, Net of Deferred Income | 9,750,000 | 8,897,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 3,103,000 | 1,185,000 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 60,000 | 178,000 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 426,000 | 309,000 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Past Due | 3,589,000 | 1,672,000 |
Current | 282,416,000 | 310,535,000 |
Loans and Leases Receivable, Net of Deferred Income | 286,005,000 | 312,207,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 0 | 0 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 1,171,000 | 289,000 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 338,000 | 132,000 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 600,000 | 1,086,000 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Past Due | 2,109,000 | 1,507,000 |
Current | 126,275,000 | 111,447,000 |
Loans and Leases Receivable, Net of Deferred Income | 128,384,000 | 112,954,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 239,000 | |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | ||
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | ||
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Past Due | 239,000 | |
Current | 21,181,000 | 26,058,000 |
Loans and Leases Receivable, Net of Deferred Income | 21,420,000 | 26,058,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 416,000 | 78,000 |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 2,016,000 | 13,000 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 217,000 | |
Commercial Portfolio Segment [Member] | ||
Past Due | 2,649,000 | 91,000 |
Current | 223,757,000 | 185,185,000 |
Loans and Leases Receivable, Net of Deferred Income | 226,406,000 | 185,276,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 38,000 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 148,000 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | ||
Consumer Portfolio Segment [Member] | ||
Past Due | 148,000 | |
Current | 40,206,000 | 29,128,000 |
Loans and Leases Receivable, Net of Deferred Income | 40,354,000 | 29,128,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 5,462,000 | 1,552,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 2,414,000 | 333,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 1,350,000 | 1,779,000 |
Past Due | 9,226,000 | 3,664,000 |
Current | 802,282,000 | 768,728,000 |
Loans and Leases Receivable, Net of Deferred Income | 811,508,000 | 772,392,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | $ 38,000 | $ 0 |
Note 6 - Loans and the Allowa34
Note 6 - Loans and the Allowance for Loan Losses - Summary of Information Pertaining to Impaired Loans (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Recorded Investment, with an allowance recorded | $ 0 | $ 1,336,000 |
Unpaid Principal Balance, with an allowance recorded | 0 | 1,514,000 |
Related Allowance | 0 | 504,000 |
Average Recorded Investment, with an allowance recorded | 873,000 | 1,392,000 |
Recorded Investment, with no allowance recorded | 58,000 | 396,000 |
Unpaid Principal Balance, with no allowance recorded | 66,000 | 401,000 |
Average Recorded Investment, with no allowance recorded | 138,000 | 1,530,000 |
Recorded Investment | 58,000 | 1,732,000 |
Unpaid Principal Balance | 66,000 | 1,915,000 |
Average Recorded Investment | 1,011,000 | 2,922,000 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Recorded Investment, with an allowance recorded | 0 | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment, with an allowance recorded | 0 | 0 |
Recorded Investment, with no allowance recorded | 0 | 0 |
Unpaid Principal Balance, with no allowance recorded | 0 | 0 |
Average Recorded Investment, with no allowance recorded | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Recorded Investment, with an allowance recorded | 0 | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment, with an allowance recorded | 0 | 0 |
Recorded Investment, with no allowance recorded | 3,133,000 | 4,172,000 |
Unpaid Principal Balance, with no allowance recorded | 3,154,000 | 5,588,000 |
Average Recorded Investment, with no allowance recorded | 4,174,000 | 4,062,000 |
Recorded Investment | 3,133,000 | 4,172,000 |
Unpaid Principal Balance | 3,154,000 | 5,588,000 |
Average Recorded Investment | 4,174,000 | 4,062,000 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Recorded Investment, with an allowance recorded | 514,000 | 305,000 |
Unpaid Principal Balance, with an allowance recorded | 538,000 | 313,000 |
Related Allowance | 359,000 | 129,000 |
Average Recorded Investment, with an allowance recorded | 349,000 | 78,000 |
Recorded Investment, with no allowance recorded | 3,182,000 | 3,361,000 |
Unpaid Principal Balance, with no allowance recorded | 3,708,000 | 3,898,000 |
Average Recorded Investment, with no allowance recorded | 3,380,000 | 1,933,000 |
Recorded Investment | 3,696,000 | 3,666,000 |
Unpaid Principal Balance | 4,246,000 | 4,211,000 |
Average Recorded Investment | 3,729,000 | 2,011,000 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Recorded Investment, with an allowance recorded | 0 | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment, with an allowance recorded | 0 | 0 |
Recorded Investment, with no allowance recorded | 0 | 0 |
Unpaid Principal Balance, with no allowance recorded | 0 | 0 |
Average Recorded Investment, with no allowance recorded | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Recorded Investment, with an allowance recorded | 735,000 | 975,000 |
Unpaid Principal Balance, with an allowance recorded | 746,000 | 1,653,000 |
Related Allowance | 560,000 | 475,000 |
Average Recorded Investment, with an allowance recorded | 1,296,000 | 908,000 |
Recorded Investment, with no allowance recorded | 4,791,000 | 1,251,000 |
Unpaid Principal Balance, with no allowance recorded | 5,952,000 | 1,255,000 |
Average Recorded Investment, with no allowance recorded | 2,368,000 | 3,368,000 |
Recorded Investment | 5,526,000 | 2,226,000 |
Unpaid Principal Balance | 6,698,000 | 2,908,000 |
Average Recorded Investment | 3,664,000 | 4,276,000 |
Consumer Portfolio Segment [Member] | ||
Recorded Investment, with an allowance recorded | 36,000 | 0 |
Unpaid Principal Balance, with an allowance recorded | 36,000 | 0 |
Related Allowance | 36,000 | 0 |
Average Recorded Investment, with an allowance recorded | 4,000 | 0 |
Recorded Investment, with no allowance recorded | 0 | 0 |
Unpaid Principal Balance, with no allowance recorded | 0 | 0 |
Average Recorded Investment, with no allowance recorded | 0 | 14,000 |
Recorded Investment | 36,000 | 0 |
Unpaid Principal Balance | 36,000 | 0 |
Average Recorded Investment | 4,000 | 14,000 |
Recorded Investment, with an allowance recorded | 1,285,000 | 2,616,000 |
Unpaid Principal Balance, with an allowance recorded | 1,320,000 | 3,480,000 |
Related Allowance | 955,000 | 1,108,000 |
Average Recorded Investment, with an allowance recorded | 2,522,000 | 2,378,000 |
Recorded Investment, with no allowance recorded | 11,164,000 | 9,180,000 |
Unpaid Principal Balance, with no allowance recorded | 12,880,000 | 11,142,000 |
Average Recorded Investment, with no allowance recorded | 10,060,000 | 10,907,000 |
Recorded Investment | 12,449,000 | 11,796,000 |
Unpaid Principal Balance | 14,200,000 | 14,622,000 |
Average Recorded Investment | $ 12,582,000 | $ 13,285,000 |
Note 6 - Loans and the Allowa35
Note 6 - Loans and the Allowance for Loan Losses - Fair Value of Loans Acquired with Deteriorated Credit Quality (Details) - American Gateway Financial Corporation [Member] | Apr. 01, 2015USD ($) |
Purchased Impaired Credits, Contractually required principal and interest | $ 11,294,000 |
Purchased Impaired Credits, Nonaccretable difference | 6,375,000 |
Purchased Impaired Credits, Cash flows expected to be collected | 4,919,000 |
Purchased Impaired Credits, Accretable yield | 0 |
Purchased Impaired Credits, Fair value of Purchased Impaired Credits at Acquisition | $ 4,919,000 |
Note 6 - Loans and the Allowa36
Note 6 - Loans and the Allowance for Loan Losses - Summary of Changes in Carrying Amount of Purchased Impaired Credits (Details) - USD ($) | 9 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2015 | ||
American Gateway Financial Corporation [Member] | |||
Carrying amount, beginning balance | $ 3,634,000 | $ 4,919,000 | |
Payments received, net of discounts realized | (815,000) | (469,000) | |
Charge-offs | (352,000) | (204,000) | |
Transfer to Other Real Estate | (325,000) | (612,000) | |
Carrying amount, ending balance | 2,142,000 | 3,634,000 | |
Carrying amount, beginning balance | [1] | 3,634,000 | |
Carrying amount, ending balance | [1] | $ 2,142,000 | $ 3,634,000 |
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 6 - Loans and the Allowa37
Note 6 - Loans and the Allowance for Loan Losses - Summary of Informative Data Regarding Loan Modifications (Details) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016USD ($) | Dec. 31, 2015USD ($) | |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Number of Contracts | 4 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 1,036 | $ 1,568 |
Post-Modification Outstanding Recorded Investment | $ 755 | $ 1,008 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Number of Contracts | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 2,623 | $ 5,143 |
Post-Modification Outstanding Recorded Investment | $ 2,240 | $ 3,623 |
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 4 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 3,294 | $ 1,736 |
Post-Modification Outstanding Recorded Investment | $ 1,889 | $ 1,234 |
Number of Contracts | 9 | 11 |
Pre-Modification Outstanding Recorded Investment | $ 6,953 | $ 8,447 |
Post-Modification Outstanding Recorded Investment | $ 4,884 | $ 5,865 |
Note 7 - Fair Value of Financ38
Note 7 - Fair Value of Financial Instruments (Details Textual) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Liabilities, Fair Value Disclosure, Recurring | $ 0 | $ 0 |
Liabilities, Fair Value Disclosure, Nonrecurring | $ 0 | $ 0 |
Note 7 - Fair Value of Financ39
Note 7 - Fair Value of Financial Instruments - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 7,705,000 | 13,667,000 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities Available for Sale, at Fair Values | 7,705,000 | 13,667,000 |
US Government Agencies Debt Securities [Member] | ||
Securities Available for Sale, at Fair Values | 7,705,000 | 13,667,000 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 11,104,000 | 11,072,000 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities Available for Sale, at Fair Values | 11,104,000 | 11,072,000 |
Corporate Debt Securities [Member] | ||
Securities Available for Sale, at Fair Values | 11,104,000 | 11,072,000 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 108,721,000 | 119,070,000 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities Available for Sale, at Fair Values | 108,721,000 | 119,070,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities Available for Sale, at Fair Values | 108,721,000 | 119,070,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 81,528,000 | 66,441,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities Available for Sale, at Fair Values | 81,528,000 | 66,441,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities Available for Sale, at Fair Values | 81,528,000 | 66,441,000 |
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 614,000 | 607,000 |
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities Available for Sale, at Fair Values | 614,000 | 607,000 |
Other Debt Obligations [Member] | ||
Securities Available for Sale, at Fair Values | 614,000 | 607,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 209,672,000 | 210,857,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Fair Value, Measurements, Recurring [Member] | ||
Securities Available for Sale, at Fair Values | 209,672,000 | 210,857,000 |
Securities Available for Sale, at Fair Values | $ 209,672,000 | $ 210,857,000 |
Note 7 - Fair Value of Financ40
Note 7 - Fair Value of Financial Instruments - Summary of Financial Assets Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, nonrecurring | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, nonrecurring | 13,538 | 14,224 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, nonrecurring | ||
Impaired Loans [Member] | ||
Assets, nonrecurring | 13,538 | 14,224 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, nonrecurring | ||
Repossessed Assets [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, nonrecurring | 1,581 | 2,033 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, nonrecurring | ||
Repossessed Assets [Member] | ||
Assets, nonrecurring | 1,581 | 2,033 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets, nonrecurring | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets, nonrecurring | 15,119 | 16,257 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, nonrecurring | ||
Assets, nonrecurring | $ 15,119 | $ 16,257 |
Note 7 - Fair Value of Financ41
Note 7 - Fair Value of Financial Instruments - Estimated Fair Values of Banks' Financial Instruments (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Reported Value Measurement [Member] | ||
Cash and Short-Term Investments | $ 34,241,000 | $ 43,407,000 |
Securities | 209,672,000 | 210,857,000 |
Mortgage Loans Held for Sale | 240,000 | |
Loans Receivable, Fair Value Disclosure | 803,762,000 | 765,148,000 |
Cash Value of BOLI | 22,415,000 | 22,339,000 |
Other Equity Securities | 6,163,000 | 5,350,000 |
Total | 1,076,493,000 | 1,047,101,000 |
Deposits | 929,650,000 | 904,236,000 |
Borrowings | 53,648,000 | 54,579,000 |
Total | 983,298,000 | 958,815,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and Short-Term Investments | 34,241,000 | 43,407,000 |
Securities | ||
Mortgage Loans Held for Sale | ||
Loans Receivable, Fair Value Disclosure | ||
Cash Value of BOLI | ||
Other Equity Securities | ||
Total | 34,241,000 | 43,407,000 |
Deposits | ||
Borrowings | ||
Total | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and Short-Term Investments | ||
Securities | 209,672,000 | 210,857,000 |
Mortgage Loans Held for Sale | 240,000 | |
Loans Receivable, Fair Value Disclosure | ||
Cash Value of BOLI | 22,415,000 | 22,339,000 |
Other Equity Securities | ||
Total | 232,327,000 | 233,196,000 |
Deposits | ||
Borrowings | 53,441,000 | 54,561,000 |
Total | 53,441,000 | 54,561,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and Short-Term Investments | ||
Securities | ||
Mortgage Loans Held for Sale | ||
Loans Receivable, Fair Value Disclosure | 800,544,000 | 761,241,000 |
Cash Value of BOLI | ||
Other Equity Securities | 6,163,000 | 5,350,000 |
Total | 806,707,000 | 766,591,000 |
Deposits | 914,101,000 | 897,771,000 |
Borrowings | ||
Total | 914,101,000 | 897,771,000 |
Estimate of Fair Value Measurement [Member] | ||
Cash and Short-Term Investments | 34,241,000 | 43,407,000 |
Securities | 209,672,000 | 210,857,000 |
Mortgage Loans Held for Sale | 240,000 | |
Loans Receivable, Fair Value Disclosure | 800,544,000 | 761,241,000 |
Cash Value of BOLI | 22,415,000 | 22,339,000 |
Other Equity Securities | 6,163,000 | 5,350,000 |
Total | 1,073,275,000 | 1,043,194,000 |
Deposits | 914,101,000 | 897,771,000 |
Borrowings | 53,441,000 | 54,561,000 |
Total | 967,542,000 | 952,332,000 |
Securities | 209,672,000 | 210,857,000 |
Other Equity Securities | $ 6,163,000 | $ 5,350,000 |