Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Mar. 10, 2017 | |
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) | 6,914,179 | |
Entity Public Float | $ 0 | |
Document Type | 10-K | |
Document Period End Date | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | FY | |
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and Due from Banks | $ 42,173 | $ 40,911 |
Federal Funds Sold | 2,556 | 2,496 |
Securities Available for Sale, at Fair Values | 198,342 | 210,857 |
Mortgage Loans Held for Sale | 180 | |
Loans and Lease Receivable, Net of Allowance for Loan Losses of $8,162 in 2016 and $7,244 in 2015 | 802,789 | 765,148 |
Premises and Equipment, Net | 9,281 | 9,234 |
Accrued Interest Receivable | 3,384 | 2,823 |
Other Equity Securities | 6,120 | 5,350 |
Other Real Estate Owned | 1,187 | 2,033 |
Cash Value of Life Insurance | 22,567 | 22,339 |
Goodwill | 6,824 | 3,376 |
Core Deposit Intangible | 2,279 | 2,555 |
Other Assets | 8,159 | 8,967 |
Total Assets | 1,105,841 | 1,076,089 |
LIABILITIES | ||
Noninterest Bearing | 223,705 | 222,488 |
Interest Bearing | 709,090 | 681,748 |
Total Deposits | 932,795 | 904,236 |
Securities Sold Under Agreements to Repurchase | 2,720 | 2,435 |
Short Term Borrowings | 862 | 3,000 |
Long Term Borrowings | 3,000 | |
Federal Home Loan Bank Borrowings | 47,064 | 49,144 |
Accrued Interest Payable | 920 | 566 |
Other Liabilities | 4,921 | 4,259 |
Total Liabilities | 992,282 | 963,640 |
STOCKHOLDERS' EQUITY | ||
Common Stock, $1 Par Value; 10,000,000 Shares Authorized; 6,916,673 and 7,035,913 Shares Issued and Outstanding at December 31, 2016 and 2015, respectively | 6,917 | 7,036 |
Additional Paid-in Capital | 85,133 | 85,913 |
Retained Earnings | 23,839 | 20,289 |
Accumulated Other Comprehensive Loss | (2,330) | (789) |
Total Stockholders' Equity | 113,559 | 112,449 |
Total Liabilities and Stockholders' Equity | $ 1,105,841 | $ 1,076,089 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Allowance for loan losses | $ 8,162 | $ 7,244 |
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) | 6,916,673 | 7,035,913 |
Common stock, shares outstanding (in shares) | 6,916,673 | 7,035,913 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest Income: | |||
Interest and Fees on Loans | $ 39,468 | $ 35,244 | $ 25,731 |
Interest and Dividends on Securities | 3,781 | 3,186 | 1,673 |
Interest on Federal Funds Sold and Due From Banks | 169 | 187 | 71 |
Total Interest Income | 43,418 | 38,617 | 27,475 |
Interest Expense: | |||
Interest on Deposits | 5,152 | 3,858 | 3,641 |
Interest on Borrowings | 674 | 609 | 310 |
Total Interest Expense | 5,826 | 4,467 | 3,951 |
Net Interest Income | 37,592 | 34,150 | 23,524 |
Provision for Loan Losses | 1,220 | 1,200 | 700 |
Net Interest Income after Provision for Loan Losses | 36,372 | 32,950 | 22,824 |
Other Income: | |||
Service Charges on Deposit Accounts | 2,033 | 1,553 | 587 |
Gain (Loss) on Sales of Securities | 232 | (15) | 13 |
Other Income | 3,156 | 1,642 | 1,128 |
Total Other Income | 5,421 | 3,180 | 1,728 |
Other Expenses: | |||
Salaries and Employee Benefits | 19,471 | 16,145 | 11,196 |
Occupancy and Equipment Expense | 4,574 | 3,941 | 2,469 |
Other Expenses | 11,024 | 10,423 | 5,490 |
Total Other Expenses | 35,069 | 30,509 | 19,155 |
Income Before Income Taxes | 6,724 | 5,621 | 5,397 |
Provision for Income Taxes | 1,613 | 1,525 | 1,364 |
Net Income | $ 5,111 | $ 4,096 | $ 4,033 |
Earnings Per Share: | |||
Basic (in dollars per share) | $ 0.73 | $ 0.61 | $ 0.76 |
Diluted (in dollars per share) | $ 0.70 | $ 0.59 | $ 0.72 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Consolidated Net Income | $ 5,111 | $ 4,096 | $ 4,033 |
Other Comprehensive Income (Loss): | |||
Unrealized Gain (Loss) on Investment Securities | (2,568) | (206) | 3,630 |
Reclassification Adjustment for Gains (Loss) included in Net Income | 232 | (15) | 13 |
Income Tax Effect | 795 | 75 | (1,239) |
Other Comprehensive Income (Loss) | (1,541) | (146) | 2,404 |
Consolidated Comprehensive Income (Loss) | $ 3,570 | $ 3,950 | $ 6,437 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances at at Dec. 31, 2013 | $ 5,315 | $ 56,740 | $ 12,915 | $ (3,047) | $ 71,923 |
Net Income | 4,033 | 4,033 | |||
Other Comprehensive Income (Loss) | 2,404 | 2,404 | |||
Stock Based Compensation Cost | 485 | 485 | |||
Balances at at Dec. 31, 2014 | 5,315 | 57,225 | 16,948 | (643) | 78,845 |
Net Income | 4,096 | 4,096 | |||
Other Comprehensive Income (Loss) | (146) | (146) | |||
Stock Based Compensation Cost | 49 | 49 | |||
Balances at at Dec. 31, 2015 | 7,036 | 85,913 | 20,289 | (789) | 112,449 |
Merger Consideration - net | 1,891 | 30,519 | 32,410 | ||
Stock Repurchase | (170) | (1,880) | (755) | (2,805) | |
Net Income | 5,111 | 5,111 | |||
Other Comprehensive Income (Loss) | (1,541) | (1,541) | |||
Stock Based Compensation Cost | 456 | 456 | |||
Balances at at Dec. 31, 2016 | 6,917 | 85,133 | 23,839 | $ (2,330) | 113,559 |
Stock Repurchase | (125) | (1,245) | (505) | (1,875) | |
Cash Dividends Declared, $0.05 Per Share | $ (1,056) | (1,056) | |||
Reclass of Shares Issued | 5 | (5) | |||
Exercise of Stock Warrants | $ 1 | $ 14 | $ 15 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) | 12 Months Ended |
Dec. 31, 2016$ / shares | |
Retained Earnings [Member] | |
Cash dividends declared (in dollars per share) | $ 0.05 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash Flows From Operating Activities: | |||
Consolidated Net Income | $ 5,111,000 | $ 4,096,000 | $ 4,033,000 |
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities: | |||
Provision for Loan Losses | 1,220,000 | 1,200,000 | 700,000 |
Depreciation and Amortization | 1,299,000 | 1,192,000 | 810,000 |
Amortization of Purchase Accounting Valuations | (1,818,000) | (2,332,000) | |
Noncash Compensation Expense | 456,000 | 49,000 | 485,000 |
Net Amortization of Securities | 1,929,000 | 1,511,000 | 493,000 |
(Gain) Loss on Sales of Securities | (232,000) | 15,000 | (13,000) |
(Gain) Loss on Sale of Premises and Equipment | (24,000) | 157,000 | |
Gain on Sale of Other Real Estate Owned Net of Writedowns | (72,000) | (58,000) | (262,000) |
Increase in Cash Value of Life Insurance | (788,000) | (637,000) | (569,000) |
Provision (Credit) for Deferred Income Taxes | 953,000 | (74,000) | (764,000) |
Changes in Assets and Liabilities: | |||
(Increase) Decrease in Accrued Interest Receivable | (561,000) | (314,000) | 134,000 |
(Increase) Decrease in Other Assets | 659,000 | (971,000) | 1,521,000 |
Increase (Decrease) in Accrued Interest Payable | 354,000 | (76,000) | (37,000) |
Increase (Decrease) in Other Liabilities | (350,000) | (350,000) | 361,000 |
Net Cash Provided by Operating Activities | 8,136,000 | 3,408,000 | 6,892,000 |
Cash Flows From Investing Activities: | |||
Purchases of Securities Available for Sale | (45,935,000) | (58,648,000) | (3,699,000) |
Proceeds from Maturities / Sales of Securities Available for Sale | 30,589,000 | 9,528,000 | 28,846,000 |
Proceeds from Paydowns of Securities Available for Sale | 23,828,000 | 19,376,000 | 5,799,000 |
Net Cash Received in Merger | 87,377,000 | ||
Purchases of Other Equity Securities | (852,000) | (3,385,000) | (681,000) |
Redemption of Other Equity Securities | 82,000 | 1,912,000 | 1,866,000 |
Life Insurance Proceeds | 560,000 | ||
Net Increase in Loans | (38,326,000) | (70,443,000) | (24,655,000) |
Proceeds from Sale of Premises and Equipment | 68,000 | ||
Purchases of Premises and Equipment | (1,390,000) | (962,000) | (218,000) |
Proceeds from Sales of Other Real Estate | 1,659,000 | 2,697,000 | 337,000 |
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 | (60,000) | (1,339,000) | 8,378,000 |
Net Cash Provided by (Used in) Investing Activities | (33,327,000) | (14,130,000) | 15,973,000 |
Cash Flows From Financing Activities: | |||
Net Increase (Decrease) in Deposits | 28,559,000 | 33,775,000 | (6,924,000) |
Net Increase (Decrease) in Securities Sold Under Agreements to Repurchase | 285,000 | (1,841,000) | |
Net Repayments on Federal Home Loan Bank Borrowings | (1,349,000) | (6,511,000) | |
Net Increase (Decrease) in Short Term Borrowings | (2,138,000) | 3,000,000 | |
Proceeds from Long Term Borrowings | 3,000,000 | ||
Repurchase of Common Stock | (863,000) | (2,805,000) | |
Proceeds from Exercise of Stock Warrants | 15,000 | ||
Payment of Dividends on Common Stock | (1,056,000) | ||
Net Cash Provided by (Used in) Financing Activities | 26,453,000 | 25,618,000 | (6,924,000) |
Net Increase in Cash and Cash Equivalents | 1,262,000 | 14,896,000 | 15,941,000 |
Cash and Cash Equivalents at Beginning of Period | 40,911,000 | 26,015,000 | 10,074,000 |
Cash and Cash Equivalents at End of Period | 42,173,000 | 40,911,000 | 26,015,000 |
Supplemental Disclosures for Cash Flow Information: | |||
Interest on Deposits | 4,779,000 | 3,813,000 | 3,679,000 |
Interest on Borrowings | 693,000 | 467,000 | 309,000 |
Income Tax Payments | 1,016,000 | 2,513,000 | 1,976,000 |
Supplemental Schedule for Noncash Investing and Financing Activities: | |||
Change in the Unrealized Gain (Loss) on Securities Available for Sale | (2,336,000) | (221,000) | 3,643,000 |
Change in Deferred Tax Effect on the Unrealized (Gain) Loss on Securities Available for Sale | 795,000 | 75,000 | (1,239,000) |
Transfer of Loans to Other Real Estate | $ 648,000 | $ 1,033,000 | $ 2,203,000 |
Note 1 - Nature of Operations -
Note 1 - Nature of Operations - Summary of Significant Accounting Policies - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1 – Nature of Operations – Summary of Significant Accounting Policies – The accounting principles followed by 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, are those which are generally practiced within the banking industry. The methods of applying those principles conform with generally accepted accounting principles and have been applied on a consistent basis. The principles which significantly affect the determination of financial position, results of operations, changes in stockholders’ equity and cash flows are summarized below. Principles of Consolidation The consolidated financial statements include the accounts of Business First Bancshares, Inc. and its wholly-owned subsidiary, Business First Bank (the Bank), and the Bank ’s wholly-owned subsidiaries, Business First Insurance, LLC and American Gateway Insurance Agency, LLC (collectively, the Company). All significant intercompany balances and transactions have been eliminated. Nature of Operations The Bank operates in sixteen one one agencies. The Company is also regulated by the Federal Reserve and is subject to periodic examinations. Estimates 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 may may The Bank ’s loans are generally secured by specific items of collateral including real property, business assets, and consumer assets. Although the Bank has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on local economic conditions in the Bank’s market area. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may may may Acquisition Accounting Acquisitions are accounted for under the purchase method of accounting. Purchased assets and assumed liabilities are recorded at their respective acquisition date fair values, and identifiable intangible assets are recorded at fair value. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized. Fair values are subject to refinement for up to one Securities Management determines the appropriate classification of debt securities (held to maturity, available for sale or trading) at the time of purchase and re-evaluates this classification periodically. Securities classified as available for sale are those debt securities the Bank intends to hold for an indefinite period of time but not necessarily to maturity. Any decision to sell a security classified as available for sale would be based on various factors, including significant movements in interest rates, changes in the maturity mix of the Bank ’s assets and liabilities, liquidity needs, regulatory capital considerations, and other similar factors. Securities available for sale are recorded at fair value. Unrealized gains or losses are reported as a component of comprehensive income. Realized gains or losses, determined on the basis of the cost of specific securities sold, are included in earnings. Securities classified as held to maturity are those debt securities the Bank has both the intent and ability to hold to maturity regardless of changes in market conditions, liquidity needs or changes in general economic conditions. These securities are recorded at cost adjusted for amortization of premium and accretion of discount, computed by various methods approximating the interest method over their contractual lives. The Bank has no December 31, 201 6 2015. Securities classified as trading are those securities held for resale in anticipation of short-term market movements. These securities are recorded at market value with any market adjustments included in earnings. The Bank has no December 31, 201 6 2015. The Bank has invested in Federal Home Loan Bank (FHLB) stock which is reflected at cost in these financial statements. As a member of the FHLB System, the Bank is required to purchase and maintain stock in an amount determined by the FHLB. The FHLB stock is redeemable at par value at the discretion of the FHLB. Loans Loans are stated at principal amounts outstanding less the allowance for loan losses. Interest on commercial and individual loans is accrued daily based on the principal outstanding. Generally, the Bank discontinues the accrual of interest income when a loan becomes 90 The Bank classifies loans as impaired when it is probable the Bank will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. The measurement of impaired loans is based on the present value of the expected future cash flows discounted at the loan ’s effective interest rate or the loan’s observable market price, or based on the fair value of the collateral if the loan is collateral dependent. Acquired Loans Purchased loans acquired in a business combination are recorded at their estimated fair value as of the acquisition date and there is no carryover of the seller ’s allowance for loan losses. The Company accounts for acquired impaired loans in accordance with ASC 310 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310 30”). The performing loans are accounted for under ASC 310 20, Nonrefundable Fees and Other Costs (“ASC 310 20”) Allowance for Loan Losses The allowance for loan losses is maintained at a level which, in management ’s judgment, is adequate to absorb credit losses inherent in the loan portfolio. The allowance for loan losses is based upon management’s review and evaluation of the loan portfolio. Factors considered in the establishment of the allowance for loan losses include management’s evaluation of specific loans; the level and composition of classified loans; historical loss experience; results of examinations by regulatory agencies; an internal asset review process; expectations of future economic conditions and their impact on particular borrowers; and other judgmental factors. Allowances for impaired loans are generally determined based on collateral values or the present value of estimated cash flows. Management obtains independent appraisals for significant collateral in determining collateral values. Although management uses available information to recognize losses on loans, because of uncertainties associated with local economic conditions, collateral values, and future cash flows on impaired loans, it is reasonably possible that a material change could occur in the allowance for loan losses in the near term. However, the amount of the change that is reasonably possible cannot be estimated. 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 allowance for loan losses is based on estimates of potential future losses, and ultimate losses may Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is provided at rates based upon estimated useful service lives using the straight-line method for financial reporting and accelerated methods for tax reporting purposes. The costs of assets retired or otherwise disposed of and the related accumulated depreciation are eliminated from the accounts in the year of disposal and the resulting gains or losses are included in current operations. Expenditures for maintenance and repairs are charged to operations as incurred. Costs of major additions and improvements are capitalized. Other Real Estate Owned Real estate properties acquired through or in lieu of loan foreclosure or negotiated settlement are initially recorded at the fair value less estimated selling cost at the date of acquisition. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, valuations are periodically performed by management and property held for sale is carried at the lower of the new cost basis or fair value less cost to sell. Impairment losses on property to be held and used are measured as the amount by which the carrying amount of a property exceeds its fair value. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. Valuations are periodically performed by management, and any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the lower of its cost or fair value less cost to sell. The carrying amount of residential real estate included in other real estate owned was $660,000 December 31, 2015; none December 31, 2016. Goodwill and Other Intangible Assets Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill and other intangible assets deemed to have an indefinite useful life are not amortized but instead are subject to review for impairment annually, or more frequently if deemed necessary. Intangible assets with estimable useful lives are amortized over their respective estimated useful lives and reviewed for impairment. If impaired, the asset is written down to its estimated fair value. Core deposit intangibles representing the value of the acquired core deposit base are generally recorded in connection with business combinations involving banks and branch locations. The Company ’s policy is to amortize core deposit intangibles on a straight line basis over their estimated useful life of 10 may Income Taxes The provision for income taxes is based on amounts reported in the statement of income after exclusion of nontaxable income such as interest on state and municipal securities. Also, certain items of income and expense are recognized in different time periods for financial statement purposes than for income tax purposes. Thus, provisions for deferred taxes are recorded in recognition of such temporary differences. Deferred taxes are provided utilizing a liability method whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the reported amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company files a consolidated federal income tax return. Consolidated income tax expense is allocated on the basis of each entity ’s income adjusted for permanent differences. The Company evaluates all significant tax positions as required by accounting principles generally accepted in the United States of America. As of December 31, 201 6, The Company files income tax returns in the U.S. federal jurisdiction and the state of Louisiana. With few exceptions, the Company is no longer subject to federal and state income tax examinations by tax authorities for years before 2013. Stock Based Compensation As described in Note 16, Statements of Cash Flows For purposes of reporting cash flows, cash and cash equivalents include cash on hand and deposits in other financial institutions. Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income. The components of comprehensive income are disclosed on the Consolidated Statements of Comprehensive Income for all periods presented. Advertising The Company expenses all costs of advertising and promotion the first promotion takes place. For the years ended December 31, 2016, 2015 2014, $849,000, $437,000 $190,000, Recent Accounting Pronouncements In September 2015, the FASB issued ASU No. 2015 16, Business Combinations (Topic 805), December 15, 2015, first In January 2016, 2016 16, Financial Instruments - Overall (Subtopic 825 10), may 2016 16 December 15, 2017, In February 2016, 2016 02, Leases (Topic 842), December 15, 2018. In March 2016, 2016 09, Compensation - Stock Compensation (Topic 718), December 15, 2016, In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326), may December 31, 2019. first |
Note 2 - Reclassifications -
Note 2 - Reclassifications - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | Note 2 – Reclassifications – Certain reclassifications may to the prior years’ financial statements in order to conform to the classifications adopted for reporting in 2016. |
Note 3 - Mergers and Acquisitio
Note 3 - Mergers and Acquisitions - | 12 Months Ended |
Dec. 31, 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, 10 ’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 purchased and the liabilities assumed at their estimated fair values. The fair value measurements were subject to refinement for up to one 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 Liablilites 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 - | 12 Months Ended |
Dec. 31, 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 Years Ended December 31, 2016 2015 2014 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 5,111 $ 4,096 $ 4,033 Denominator: Weighted Average Common Shares Outstanding 7,033,476 6,694,075 5,314,925 Dilutive Effect of Stock Options and Warrants 281,607 288,981 293,600 Weighted Average Dilutive Common Shares 7,315,083 6,983,056 5,608,525 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.73 $ 0.61 $ 0.76 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.70 $ 0.59 $ 0.72 |
Note 5 - Cash and Due From Bank
Note 5 - Cash and Due From Bank - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 5 – Cash and Due From Bank – The Bank is required to maintain funds in cash or on deposit with the Federal Reserve Bank. There were no December 31, 2016 2015. |
Note 6 - Securities -
Note 6 - Securities - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 6 – Securities – The amortized cost and fair values of securities available for sale as of December 31, 201 6 2015 December 31, 2016 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 7,580 $ 36 $ 50 $ 7,566 Corporate Securities 11,148 31 52 11,127 Mortgage-Backed Securities 101,766 20 2,414 99,372 Municipal Securities 80,559 210 1,133 79,636 Other Securities 820 - 179 641 Total Securities Available for Sale $ 201,873 $ 297 $ 3,828 $ 198,342 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 Total Securities Available for Sale $ 212,053 $ 956 $ 2,152 $ 210,857 The following table is a summary of securities with gross unrealized losses and fair values at December 31, 2016 2015, December 31, 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 $ 4,535 $ 50 $ - $ - $ 4,535 $ 50 Corporate Securities 2,010 31 4,515 21 6,525 52 Mortgage-Backed Securities 86,091 1,974 9,885 440 95,976 2,414 Municipal Securities 54,533 1,128 207 5 54,740 1,133 Other Securities - - 641 179 641 179 Total Securities Available for Sale $ 147,169 $ 3,183 $ 15,248 $ 645 $ 162,417 $ 3,828 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 Total Securities Available for Sale $ 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 December 31, 201 6 may may Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 7,346 $ 7,349 One to Five Years 48,592 48,334 Over Five to Ten Years 61,477 60,499 Over Ten Years 84,458 82,160 Total Securities Available for Sale $ 201,873 $ 198,342 Securities available for sale with a fair value of $86.0 $107.9 December 31, 2016 2015. There were $260,000, $3,000 $530,000 December 31, 2016, 2015 2014, $28,000, $18,000 $517,000 December 31, 2016, 2015 2014, The Bank has invested in the Federal Home Loan Bank of Dallas which is included in other equity securities and reflected at cost in these financial statements. The cost of these securities was $3.6 $3.5 December 31, 2016 2015. December 31, 2016 2015. $100,000 $100,000 $1.6 $1.3 $348,000 $254,000 $234,000 $243,000 December 31, 2016 2015, December 31, 2016, $252,000 |
Note 7 - Loans and the Allowanc
Note 7 - Loans and the Allowance for Loan Losses - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 7 – Loans and the Allowance for Loan Losses – Loans receivable at December 31, 201 6 2015 December 31, 2016 2015 (Dollars in thousands) Real estate loans: Construction and land $ 94,426 $ 97,872 Farmland 9,217 8,897 1-4 family residential 129,052 112,954 Multi-family residential 22,737 26,058 Nonfarm nonresidential 298,057 312,207 Commercial 213,120 185,276 Consumer 44,342 29,128 Total loans held for investment 810,951 772,392 Less: Allowance for loan losses (8,162 ) (7,244 ) Net loans $ 802,789 $ 765,148 The performing one four December 31, 201 6 2015. Net deferred loan origination fees were $761 ,000 $740,000 December 31, 2016 2015, December 31, 2016 2015, $232,000 $150,000, The Bank is the lead lender on participations sold, without recourse, to other financial institutions which amounts are not included in the balance sheet. The unpaid principal balances of mortgages and other loans serviced for others were approximately $55.5 $44.7 December 31, 2016 2015, 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 December 31, 201 6 2015, Allowance for Credit Losses and Recorded Investment in Loans Receivable December 31, 2016 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Multi- Real Estate: Construction Real Estate: 1-4 Family 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 ) - (473 ) (667 ) (3 ) (1,789 ) Recoveries 10 - 140 - 1,258 33 46 1,487 Provision 807 45 229 71 113 55 (100 ) 1,220 Ending Balance $ 933 $ 75 $ 1,228 $ 172 $ 2,314 $ 3,039 $ 401 $ 8,162 Ending Balance: Individually evaluated for impairment $ - $ - $ 252 $ - $ 98 $ 501 $ 36 $ 887 Collectively evaluated for impairment $ 933 $ 75 $ 943 $ 172 $ 2,216 $ 2,538 $ 365 $ 7,242 Purchased Credit Impaired (1) $ - $ - $ 33 $ - $ - $ - $ - $ 33 Loans receivable: Ending Balance $ 94,426 $ 9,217 $ 129,052 $ 22,737 $ 298,057 $ 213,120 $ 44,342 $ 810,951 Ending Balance: Individually evaluated for impairment $ 143 $ - $ 3,263 $ - $ 1,073 $ 7,332 $ 198 $ 12,009 Collectively evaluated for impairment $ 94,117 $ 9,217 $ 125,573 $ 22,737 $ 295,590 $ 205,788 $ 44,144 $ 797,166 Purchased Credit Impaired (1) $ 166 $ - $ 216 $ - $ 1,394 $ - $ - $ 1,776 (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: Multi- Real Estate: Construction Real Estate: 1-4 Family 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 December 31, 201 6 2015, Credit Quality Indicators December 31, 2016 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 92,951 $ 932 $ 300 $ 243 $ 94,426 Farmland 9,217 - - - 9,217 1-4 family residential 118,891 4,782 2,658 2,721 129,052 Multi-family residential 22,685 - 52 - 22,737 Nonfarm nonresidential 280,398 14,531 1,927 1,201 298,057 Commercial 186,197 16,783 7,377 2,763 213,120 Consumer 43,414 505 225 198 44,342 Total $ 753,753 $ 37,533 $ 12,539 $ 7,126 $ 810,951 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 may ● Doubtful loans have specific weaknesses that are severe enough to make collection or liquidation in full highly questionable and improbable. As of December 31, 2016 and 2015, 90 $168,000 $0, December 31, 2016 2015, $7.1 $8.0 90 The following table reflects certain information with respect to the loan portfolio delinquencies by loan class and amount as of December 31, 201 6 2015. 90 Aged Analysis of Past Due Loans Receivable December 31, 2016 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Receivable Recorded Investment Over 90 Days Past Due and Still Accruing Real Estate Loans: Construction and land $ 465 $ - $ 106 $ 571 $ 93,855 $ 94,426 $ - Farmland - - - - 9,217 9,217 - 1-4 family residential 989 579 963 2,531 126,521 129,052 117 Multi-family residential - - - - 22,737 22,737 - Nonfarm nonresidential 1,370 173 532 2,075 295,982 298,057 - Commercial 45 372 262 679 212,441 213,120 51 Consumer 66 - 149 215 44,127 44,342 - Total $ 2,935 $ 1,124 $ 2,012 $ 6,071 $ 804,880 $ 810,951 $ 168 December 31, 2015 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Receivable Recorded Investment Over 90 Days Past Due 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 $ - Loan Receivables on Nonaccrual Status December 31, 2016 2015 (Dollars in thousands) Real Estate Loans: Construction and land $ 243 $ 1,738 Farmland - - 1-4 family residential 2,721 3,205 Multi-family residential - 229 Nonfarm nonresidential 1,201 1,806 Commercial 2,763 979 Consumer 198 - Total $ 7,126 $ 7,957 The following is a summary of information pertaining to impaired loans as of December 31, 201 6 2015. $464,000 $386,000 December 31, 2016 2015, December 31, 2016 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ - $ - $ - $ 655 Farmland - - - - 1-4 family residential 440 470 252 372 Multi-family residential - - - - Nonfarm nonresidential 368 368 98 31 Other Loans: Commercial 695 709 501 1,252 Consumer 36 36 36 12 Total $ 1,539 $ 1,583 $ 887 $ 2,322 With no allowance recorded: Real Estate Loans: Construction and land $ 143 $ 152 $ - $ 124 Farmland - - - - 1-4 family residential 2,823 3,276 - 3,296 Multi-family residential - - - - Nonfarm nonresidential 705 729 - 3,730 Other Loans: Commercial 6,637 7,826 - 3,680 Consumer 162 162 - 43 Total $ 10,470 $ 12,145 $ - $ 10,873 Total Impaired Loans: Real Estate Loans: Construction and land $ 143 $ 152 $ - $ 779 Farmland - - - - 1-4 family residential 3,263 3,746 252 3,668 Multi-family residential - - - - Nonfarm nonresidential 1,073 1,097 98 3,761 Other Loans: Commercial 7,332 8,535 501 4,932 Consumer 198 198 36 55 Total $ 12,009 $ 13,728 $ 887 $ 13,195 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 - - - - Total $ 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 Total $ 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 Total $ 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 December 31, 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 (1,181 ) Charge-offs (352 ) Transfer to other real estate (325 ) Carrying amount - December 31, 2016 $ 1,776 Total loans acquired in the AGFC merger included $142.8 accounted for under ASC 310 30 $138.1 December 31, 2016 2015, $65.9 $93.1 $2.4 $3.2 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 December 31, 2016 2015, 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 troubled debt restructurings as of December 31, 2016 2015. Modifications as of December 31, 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 3 $ 870 $ 608 Other Loans: Commercial 6 6,880 5,323 Total 9 $ 7,750 $ 5,931 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 11 $ 8,447 $ 5,865 The Bank had $54 ,000 December 31, 2015 none December 31, 2016. |
Note 8 - Premises and Equipment
Note 8 - Premises and Equipment - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 8 – Premises and Equipment – Bank premises and equipment at December 31, 201 6 2015 2016 2015 (Dollars in thousands) Land $ 2,098 $ 2,126 Buildings and Leasehold Improvements 6,875 6,446 Furniture and Equipment 6,007 5,128 Total Bank Premises and Equipment 14,980 13,700 Less: Accumulated Depreciation (5,699 ) (4,466 ) Total Bank Premises and Equipment, net $ 9,281 $ 9,234 The provision for depreciation and amortization charged to operating expenses was $1.3 $1.2 $810,000 December 31, 2016, 2015 2014, |
Note 9 - Goodwill and Other Int
Note 9 - Goodwill and Other Intangible Assets - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 9 – Goodwill was acquired during the year ended December 31, 2015 March 31, 2015. December 31, 2016 2015 $6.8 $3.4 As of December 31, 2015, 53,094 December 31, 2015, one December 31, 2016. Core deposit intangibles were acquired in conjunction with the AGFC merger. A summary of the core deposit intangible asset as of December 31, 2016 2015 2016 2015 (Dollars in thousands) (Dollars in thousands) Gross Carrying Amount 2,762 2,762 Less: Accumulated Amortization (483 ) (207 ) Net Carrying Amount $ 2,279 $ 2,555 Amortization expense on the core deposit intangible asset recorded in other expenses totaled approximately $276 ,000 $207,000 December 31, 2016 2015, December 31, (Dollars in thousands) 2017 $ 276 2018 276 2019 276 2020 276 2021 276 Thereafter 899 Total Core Deposit Intangible $ 2,279 |
Note 10 - Deposits -
Note 10 - Deposits - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 10 – Deposits – Deposit accounts at December 31, 201 6 2015 2016 2015 (Dollars in thousands) Noninterest Bearing - DDA $ 16,950 $ 44,024 Noninterest Bearing - Money Market Account 206,755 178,464 Noninterest Bearing Deposits 223,705 222,488 Interest Bearing - DDA 31,457 26,928 NOW and Super NOW Accounts 17,051 15,405 Money Market Accounts 287,189 329,955 Savings Accounts 35,181 36,137 Certificates of Deposit Over $250,000 73,346 52,418 Other Certificates of Deposit 264,866 220,905 Interest Bearing Deposits 709,090 681,748 Total Deposits $ 932,795 $ 904,236 Approxim ately 70.7% December 31, 2016 2017 29.3% 2018 At December 31, 2016 2015, three $114.2 $126.3 12.3% 14.0% $102.8 $74.6 December 31, 2016 2015, $27.2 $20.8 December 31, 2016 2015, $113.5 $146.4 December 31, 2016 2015, |
Note 11 - Borrowings -
Note 11 - Borrowings - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 1 1 – Borrowings – The Bank had outstanding advances from the Federal Home Loan Bank ( FHLB) of $46.4 $47.7 December 31, 2016 2015, Three fixed rate loans totaling $ 30.0 December 31, 2016 and 2015, 2.92 3.07 November 2017 2008. One fixed rate loan of $1.4 and $2.7 December 31, 2016 2015, 3.18 December 2017 . One fixed rate loan of $ 15.0 December 31, 201 6 2015, 1.90 December 2018 2013. These advances are collateralized by the Bank ’s investment in Federal Home Loan Bank stock and a blanket lien on qualifying loans in the Bank’s loan portfolio consisting of performing 1 4 $321.1 December 31, 2016 $193.7 As a result of the merger with AGFC, the Bank assumed the outstanding FHLB advances of American Gateway Bank. These advances were recorded at fair value as of acquisition, which totaled $41.2 $2.0 totaled $670,000 $1.4 December 31, 2016 2015, The Bank has outstanding lines of credit with several of its correspondent banks available to assist in the management of short-term liquidity. These agreements provide for interest based upon the federal funds rate on the outstanding balance. Total available lines of credit as of December 31, 201 6 2015 $109.5 $83.7 no December 31, 2016 2015. First Tennessee Bank National Association (FTN) allowed the Company to borrow on a revolving basis up to $3.0 September 3, 2015, ’s common stock from certain of its shareholders and for general corporate purposes. This line of credit was paid off on September 12, 2016. December 31, 2015 $3.0 3 2.5%. 2.93% December 31, 2015, On September 12, 2016 $3.0 September 12, 2026. nine $300 ,000 September 12, 2017 one $303,000 September 12, 2026. December 31, 2016, $3.0 3.75% December 31, 2016. First National Bankers Bank (FNBB) also allows the Company to borrow on a revolving basis up to $5.0 September 12, 2016, December 31, 2016, $862,000. 3.75% December 31, 2016. one |
Note 12 - Securities Sold Under
Note 12 - Securities Sold Under Agreements to Repurchase - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | Note 12 – Securities Sold Under Agreements to Repurchase – At December 31, 2016 and 2015, one 2.0% 3.5% 2027 2036. $2.7 $2.4 December 31, 2016 2015, |
Note 13 - Income Taxes -
Note 13 - Income Taxes - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 1 3 – Income Taxes – The consolidated provision (credit) for income taxes consists of the following at December 31, 201 6, 2015 2014: 2016 2015 2014 (Dollars in thousands) Provision (Credit) for Current Taxes - Federal $ 660 $ 1,599 $ 2,128 Provision (Credit) for Deferred Taxes 953 (74 ) (764 ) Total Provision for Income Taxes $ 1,613 $ 1,525 $ 1,364 The provision (credit) for federal income taxes differs from the amount computed by applying federal statutory rates to income from operations as indicated in the following analysis at December 31, 201 6, 2015 2014: 2016 2015 2014 (Dollars in thousands) Federal Statutory Income Tax at 34% $ 2,286 $ 1,911 $ 1,835 Tax Exempt Income (708 ) (559 ) (707 ) Other - Net 35 173 236 Total Provision for Income Taxes $ 1,613 $ 1,525 $ 1,364 D eferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The net deferred tax asset at December 31, 201 6 2015 2016 2015 (Dollars in thousands) Allowance for Loan Losses $ 2,775 $ 2,463 Acquried Loans Fair Market Value Adjustment 2,168 2,631 Acquired Securities Difference in Basis (744 ) (826 ) Amortization of Start-Up Costs 55 69 Stock Warrants and Options 1,217 1,063 Depreciation (799 ) (804 ) Interest on Acquired Nonaccrual Loans 42 47 Unrealized (Gain) Loss on Securities 1,201 406 Other Real Estate 110 147 Core Deposit Intangible (775 ) (869 ) Acquired FHLB Debt Fair Market Value Adjustment 228 476 Deferred Compensation 723 907 Alternative Minimum Tax Credit 345 984 Net Operating Loss Carryforward 78 88 Net Deferred Tax Asset $ 6,624 $ 6,782 The Company acquired certain deferred tax attributes and liabilities as a result of its merger with AGFC, including a net operating loss (“NOL”) carryforward of $287,000 $984,000. may against current taxable income each year. As of December 31, 2016 $230,000 2033 $345,000 December 31, 2016 |
Note 14 - Accumulated Other Com
Note 14 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 1 4 – Accumulated Other Comprehensive Income (Loss) – The following is a summary of the changes in the balances of each component of accumulated other comprehensive income (loss) for the years ended December 31, 201 6 2015: 2016 2015 (Dollars in thousands) Unrealized Gains (Losses) on Securities Available for Sale: Balance at Beginning of Year $ (789 ) $ (643 ) Other Comprehensive Income (Loss) Before Reclassifications - Net of Tax (1,694 ) (136 ) Reclassification Adjustment for Gains (Losses) Realized - Net of Tax 153 (10 ) Other Comprehensive Income (Loss) (1,541 ) (146 ) Balance at End of Year $ (2,330 ) $ (789 ) |
Note 15 - Stockholders' Equity
Note 15 - Stockholders' Equity and Regulatory Matters - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 1 5 – Stockholders’ Equity and Regulatory Matters – Stockholders ’ Equity of the Company includes the undistributed earnings of the Bank. The Company pays dividends from its assets, which are provided primarily by dividends from the Bank. Certain restrictions exist regarding the ability of the Bank to pay cash distributions. Louisiana statutes require approval to pay distributions in excess of a bank’s earnings in the current year plus retained net profits for the preceding year. The Company paid common stock dividends of $ 0.05 second, third, fourth 2016 first, second, third 2016, no December 31, 2015. The Company and the Bank are subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum regulatory capital requirements can initiate certain mandatory, and possible additional discretionary actions by regulators, that if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements. Under the regulatory capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines involving quantitative measures of assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification under the prompt corrective action guidelines are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios. As detaile d below, as of December 31, 2016 2015, As of December 31, 201 6 2015, The following is a summary of the Bank ’s actual capital amounts and ratios at December 31, 2016 2015 December 31, 2016 2015: To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2016: Total Capital (to Risk-Weighted Assets) $ 117,909 11.89 % $ 79,324 8.00 % $ 99,155 10.00 % Tier I Capital (to Risk-Weighted Assets) $ 109,747 11.07 % $ 59,493 6.00 % $ 79,324 8.00 % Common Equity Tier 1 Capital (to Risk-Weighted Assets) $ 109,747 11.07 % $ 44,620 4.50 % $ 64,451 6.50 % Tier I Leveraged Capital (to Average Assets) $ 109,747 9.91 % $ 44,311 4.00 % $ 55,389 5.00 % December 31, 2015: Total Capital (to Risk-Weighted Assets) $ 115,828 12.17 % $ 76,159 8.00 % $ 95,199 10.00 % Tier I Capital (to Risk-Weighted Assets) $ 108,584 11.41 % $ 57,120 6.00 % $ 76,159 8.00 % Common Equity Tier 1 Capital (to Risk-Weighted Assets) $ 108,584 11.41 % $ 42,840 4.50 % $ 61,879 6.50 % Tier I Leveraged Capital (to Average Assets) $ 108,584 10.17 % $ 42,703 4.00 % $ 53,379 5.00 % |
Note 16 - Stock Based Compensat
Note 16 - Stock Based Compensation - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 1 6 – Stock Based Compensation – Stock Warrants In connection with the organization of the Company and the Bank, stock warrants were issued to organizers. The warrants may 101,000 $10 February 1, 2011 were to expire in 2016. February 1, 2016 February 2, 2019 , $48,000 At December 31, 2016 2015, 87,625 89,125 $ 10.00 December 31, 2016, 87,625 February 1, 2016 $10 409A 1986, February 2, 2019 Using the Black-Scholes pr icing model for the 87,625 $2.50 1%, 6.5 5.04%, 13.19%. Stock Options In 2006, he Company established a stock option plan with 1,500,000 ten 2006 December 22, 2016 During the years ended December 31, 201 6 2015, 50,000 42,800 $17.65 $17.11 December 31, 2016 2015, three $240,000 $198,000 2016 2015, The Company uses the Black-Scholes option pricing model to estimate the calculated value of the various share-based awards with the following assumptions for the years ended December 31, 201 6 2015, 2016 2015 Risk-Free Interest Rate 1.36 % 1.44 % Expected Dividend Yield 1.18 % 0.00 % Expected Volatility 31.68 % 29.39 % Expected Life in Years 5 5 Weighted Average Calculated Value of Options Granted $ 4.27 $ 4.87 The following is an analysis of the activity related to the stock options: Number of Weighted Average Options Exercise Price Outstanding Options, December 31, 2015 953,280 $ 12.59 Granted 50,000 17.65 Exercised - Forfeited or Expired (4,800 ) 17.11 Outstanding Options, December 31, 2016 998,480 $ 12.82 At December 31, 201 6, 562,548 $13.79 105,932 $492,000 four On December 20, 2016 330,000 December 22, 2016. $168 ,000 $10 409A 1986, January 15, 2020 |
Note 17 - Employee Benefit Plan
Note 17 - Employee Benefit Plans - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 1 7 – Employee Benefit Plans – Defined Contribution Plan The Bank has a defined contribution plan qualified under Internal Revenue Code 401(K) the eligibility requirements. Contributions may 4% $467,000, $351,000 $274,000 December 31, 2016, 2015 2014, Deferred Compensation T he Company has established certain unfunded nonqualified deferred compensation agreements for the purpose of providing deferred compensation as retirement benefits for a select group of management. At December 31, 2016 2015, $2.0 $2.4 December 31, 2016, $339,000 $336,000 $300,000 December 31, 2015 2014, |
Note 18 - Other Expenses -
Note 18 - Other Expenses - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | Note 1 8 – Other Expenses – An analysis of Other Expenses is as follows for t he years ended December 31, 2016, 2015 2014: 2016 2015 2014 (Dollars in thousands) Business Development $ 1,253 $ 805 $ 526 Communications 872 469 286 Ad Valorem Shares Tax 650 669 540 Data Processing Fees 1,528 1,141 699 Directors Fees 337 325 366 Insurance 301 284 168 Legal and Professional Fees 1,806 1,980 1,193 Office Supplies and Printing 455 437 147 Regulatory Assessments 847 880 425 Taxes and Licenses 24 10 21 Nonrecurring Merger and Conversion Costs 8 1,149 - Other 2,943 2,274 1,119 Total Other Expenses $ 11,024 $ 10,423 $ 5,490 |
Note 19 - Financial Instruments
Note 19 - Financial Instruments With Off-balance-sheet Risk - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Financial Instruments with Off-Balance Sheet Risk [Text Block] | Note 1 9 – Financial Instruments with Off-Balance-Sheet Risk – In the normal course of business, the Bank is a party to financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby and commercial letters of credit which are not included in the accompanying financial statements. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. The Bank ’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby and commercial letters of credit is represented by the contractual amount of those instruments. The Bank’s policy for obtaining collateral, and the nature of such collateral, is essentially the same as that involved in making commitments to extend credit. The Bank uses the same credit policies in making such commitments and conditional obligations as it does for instruments that are included in the balance sheet. In the normal course of business, the Bank has made commitments to extend credit of approximately $196.2 $12.5 December 31, 2016. |
Note 20 - Concentrations of Cre
Note 20 - Concentrations of Credit - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 20 – Concentrations of Credit – The majority of the Bank ’s business activities are with customers in the Bank’s market area, which consists primarily of East and West Baton Rouge, Bossier, Caddo, St. Tammany, Lafayette, Calcasieu, Terrebonne, Jefferson and adjacent parishes. The majority of such customers are depositors of the Bank. The concentrations of credit by type of loan are shown in Note 7. Within the loan portfolio, the Bank has a concentration of credits secured by real estate. The Bank had extended credit secured by non-farm non-residential real estate totaling approximately $298.1 $312.2 36.8% 40.4% December 31, 2016 2015, $94.4 $97.9 11.6% 12.7% December 31, 2016 2015, The Bank maintains amounts on deposit and federal funds sold with correspondent banks which may |
Note 21 - Commitments -
Note 21 - Commitments - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note 21 – Commitments – Leases The Bank leases certain branch offices through non-cancelable operating leases with terms that range from four ten $1.5 $1.4 $1.2 December 31, 2016, 2015 2014, Future minimum lease payments under these leases are as follows: December 31, (Dollars in thousands) 2017 $ 1,591 2018 1,459 2019 1,322 2020 961 2021 and Thereafter 5,969 Total Future Minimum Lease Payments $ 11,302 SBIC Capital Commitment The SBIC is a program initiated by the Small Business Administration (SBA) in 1958 first , with the remaining requirement being funded by the SBA. The funds are then lent to small business borrowers. The Bank has agreed to participate as an investor with McLarty Capital Partners SBIC, L.P. (McLarty) and Bluehenge Capital Secured Debt SBIC, L.P. (Bluehenge); details of these commitments at December 31, 201 6 McLarty Bluehenge (Dollars in thousands) Total Capital Commitment $ 2,000 $ 1,500 Capital Called $ 1,670 $ 412 Remaining Unfunded Capital Commitment $ 330 $ 1,088 Federal Home Loan Bank Letters of Credit The Bank had outstanding letters of credit on behalf of others from the FHLB of $81.0 $76.0 December 31, 2016 2015, December 31, 2016 One letter of credit of $11.0 March 2017 . One letter of credit of $5.0 May 2017 . One letter of credit of $40.0 June 2017. One letter of credit of $25.0 June 2017. |
Note 22 - Related Party Transac
Note 22 - Related Party Transactions - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 2 – Related Party Transactions – In the ordinary course of business, the Bank has granted loans to directors, officers and their affiliates. Such loans were made on substantially the same terms as those prevailing at the time for comparable transactions with other customers. Such loans amounted to $15.1 $22.0 December 31, 2016 2015, The activity in loans to directors, officers and their affiliates is as follows: 2016 2015 (Dollars in thousands) Balance - Beginning of Year $ 22,004 $ 28,664 New Loans 6,570 5,602 Repayments (13,435 ) (12,262 ) Balance - End of Year $ 15,139 $ 22,004 Related party deposits totaled $13.7 $10.0 December 31, 2016 2015, |
Note 23 - Fair Value of Financi
Note 23 - Fair Value of Financial Instruments - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 2 3 – Fair Value of Financial Instruments – Fair Value Disclosures The Company groups its financial assets and liabilities measured at fair value in three three ● 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 The following tables present the balance of assets and liabilities measured on a recurring basis as of December 31, 201 6 2015. not Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) December 31, 2016 Available for Sale: U.S. Government Agency Securities $ 7,566 $ - $ 7,566 $ - Corporate Securities 11,127 - 11,127 - Mortgage-Backed Securities 99,372 - 99,372 - Municipal Securities 79,636 - 79,636 - Other Securities 641 - 641 - Total $ 198,342 $ - $ 198,342 $ - December 31, 2015 Available for Sale: U.S. Government Agency Securities $ 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 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 2. Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) December 31, 2016 Assets: Impaired Loans $ 12,865 $ - $ 12,865 $ - Repossessed Assets 1,196 - 1,196 - Total $ 14,061 $ - $ 14,061 $ - 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 may 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 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 December 31, 2016 2015 Carrying Amount Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) December 31, 2016 Financial Assets: Cash and Short-Term Investments $ 44,729 $ 44,729 $ 44,729 $ - $ - Securities 198,342 198,342 - 198,342 - Mortgage Loans Held for Sale 180 180 - 180 - Loans - Net 802,789 796,400 - - 796,400 Cash Value of BOLI 22,567 22,567 - 22,567 - Other Equity Securities 6,120 6,120 - - 6,120 Total $ 1,074,727 $ 1,068,338 $ 44,729 $ 221,089 $ 802,520 Financial Liabilities: Deposits $ 932,795 $ 912,702 $ - $ - $ 912,702 Borrowings 53,646 53,706 - 53,706 - Total $ 986,441 $ 966,408 $ - $ 53,706 $ 912,702 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 24 - Litigation and Contin
Note 24 - Litigation and Contingencies - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | Note 24 – Litigation and Contingencies – In the normal course of business, the Bank is involved in various legal proceedings. In the opinion of management and counsel, the disposition or ultimate resolution of such proceedings would not have a material adverse effect on the Bank ’s financial statements. |
Note 25 - Subsequent Events -
Note 25 - Subsequent Events - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 2 5 – Subsequent Events – The Company evaluated subsequent events and transactions for potential recognition or disclosure in the financial statements through the date which the financial statements were available to be issued. This evaluation did not result in any subsequent events that required disclosures and /or adjustments under general accounting standards. |
Note 26 - Financial Statements
Note 26 - Financial Statements - Parent Company Only - | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 26 – Financial Statements – Parent Company Only – The balance sheets and statements of income for Business First Bancshares, Inc. (Parent Company) are as follows: BALANCE SHEETS AS OF DECEMBER 31, 2016 2015 (Dollars in thousands) 2016 2015 Assets: Cash $ 54 $ 359 Investment in Subsidiaries 116,031 113,265 Other Assets 2,354 1,906 Total Assets $ 118,439 $ 115,530 Liabilities: Short Term Borrowings $ 862 $ 3,000 Accrued Interest Payable 6 21 Long Term Borrowings 3,000 - Other Liabilities 1,012 60 Total Liabilities 4,880 3,081 Stockholders' Equity: Common Stock 6,917 7,036 Additional Paid-in Capital 85,133 85,913 Retained Earnings 21,509 19,500 Total Stockholders' Equity 113,559 112,449 Total Liabilities and Stockholders' Equity $ 118,439 $ 115,530 STATEMENTS OF INCOME FOR THE YEARS ENDED DECEMBER 31, 2016, 2015 2014 (Dollars in thousands) 2016 2015 2014 Income: Interest $ - $ 1 $ 4 Expenses: Other Operating Expenses 1,464 1,437 1,095 Income (Loss) before Income Taxes and Equity in Undistributed Net Income of Subsidiaries (1,464 ) (1,436 ) (1,091 ) Income Tax Expense (Benefit) (498 ) (474 ) (371 ) Income (Loss) before Equity in Undistributed Net Income of Subsidiaries (966 ) (962 ) (720 ) Equity in Undistributed Net Income of Subsidiaries 6,077 5,058 4,753 Net Income $ 5,111 $ 4,096 $ 4,033 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of Business First Bancshares, Inc. and its wholly-owned subsidiary, Business First Bank (the Bank), and the Bank ’s wholly-owned subsidiaries, Business First Insurance, LLC and American Gateway Insurance Agency, LLC (collectively, the Company). All significant intercompany balances and transactions have been eliminated. |
Nature of Operations [Policy Text Block] | Nature of Operations The Bank operates in sixteen one one agencies. The Company is also regulated by the Federal Reserve and is subject to periodic examinations. |
Use of Estimates, Policy [Policy Text Block] | Estimates 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 may may The Bank ’s loans are generally secured by specific items of collateral including real property, business assets, and consumer assets. Although the Bank has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on local economic conditions in the Bank’s market area. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may may may |
Business Combinations Policy [Policy Text Block] | Acquisition Accounting Acquisitions are accounted for under the purchase method of accounting. Purchased assets and assumed liabilities are recorded at their respective acquisition date fair values, and identifiable intangible assets are recorded at fair value. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized. Fair values are subject to refinement for up to one |
Investment, Policy [Policy Text Block] | Securities Management determines the appropriate classification of debt securities (held to maturity, available for sale or trading) at the time of purchase and re-evaluates this classification periodically. Securities classified as available for sale are those debt securities the Bank intends to hold for an indefinite period of time but not necessarily to maturity. Any decision to sell a security classified as available for sale would be based on various factors, including significant movements in interest rates, changes in the maturity mix of the Bank ’s assets and liabilities, liquidity needs, regulatory capital considerations, and other similar factors. Securities available for sale are recorded at fair value. Unrealized gains or losses are reported as a component of comprehensive income. Realized gains or losses, determined on the basis of the cost of specific securities sold, are included in earnings. Securities classified as held to maturity are those debt securities the Bank has both the intent and ability to hold to maturity regardless of changes in market conditions, liquidity needs or changes in general economic conditions. These securities are recorded at cost adjusted for amortization of premium and accretion of discount, computed by various methods approximating the interest method over their contractual lives. The Bank has no securities classified as held to maturity at December 31, 201 6 2015. Securities classified as trading are those securities held for resale in anticipation of short-term market movements. These securities are recorded at market value with any market adjustments included in earnings. The Bank has no securities classified as trading at December 31, 201 6 2015. The Bank has invested in Federal Home Loan Bank (FHLB) stock which is reflected at cost in these financial statements. As a member of the FHLB System, the Bank is required to purchase and maintain stock in an amount determined by the FHLB. The FHLB stock is redeemable at par value at the discretion of the FHLB. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans Loans are stated at principal amounts outstanding less the allowance for loan losses. Interest on commercial and individual loans is accrued daily based on the principal outstanding. Generally, the Bank discontinues the accrual of interest income when a loan becomes 90 The Bank classifies loans as impaired when it is probable the Bank will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. The measurement of impaired loans is based on the present value of the expected future cash flows discounted at the loan ’s effective interest rate or the loan’s observable market price, or based on the fair value of the collateral if the loan is collateral dependent. |
Certain Loans and Debt Securities Acquired in Transfer, Recognizing Interest Income on Impaired Loans, Policy [Policy Text Block] | Acquired Loans Purchased loans acquired in a business combination are recorded at their estimated fair value as of the acquisition date and there is no carryover of the seller ’s allowance for loan losses. The Company accounts for acquired impaired loans in accordance with ASC 310 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310 30”). The performing loans are accounted for under ASC 310 20, Nonrefundable Fees and Other Costs (“ASC 310 20”) |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses is maintained at a level which, in management ’s judgment, is adequate to absorb credit losses inherent in the loan portfolio. The allowance for loan losses is based upon management’s review and evaluation of the loan portfolio. Factors considered in the establishment of the allowance for loan losses include management’s evaluation of specific loans; the level and composition of classified loans; historical loss experience; results of examinations by regulatory agencies; an internal asset review process; expectations of future economic conditions and their impact on particular borrowers; and other judgmental factors. Allowances for impaired loans are generally determined based on collateral values or the present value of estimated cash flows. Management obtains independent appraisals for significant collateral in determining collateral values. Although management uses available information to recognize losses on loans, because of uncertainties associated with local economic conditions, collateral values, and future cash flows on impaired loans, it is reasonably possible that a material change could occur in the allowance for loan losses in the near term. However, the amount of the change that is reasonably possible cannot be estimated. 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 allowance for loan losses is based on estimates of potential future losses, and ultimate losses may |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is provided at rates based upon estimated useful service lives using the straight-line method for financial reporting and accelerated methods for tax reporting purposes. The costs of assets retired or otherwise disposed of and the related accumulated depreciation are eliminated from the accounts in the year of disposal and the resulting gains or losses are included in current operations. Expenditures for maintenance and repairs are charged to operations as incurred. Costs of major additions and improvements are capitalized. |
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure, Policy [Policy Text Block] | Other Real Estate Owned Real estate properties acquired through or in lieu of loan foreclosure or negotiated settlement are initially recorded at the fair value less estimated selling cost at the date of acquisition. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, valuations are periodically performed by management and property held for sale is carried at the lower of the new cost basis or fair value less cost to sell. Impairment losses on property to be held and used are measured as the amount by which the carrying amount of a property exceeds its fair value. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. Valuations are periodically performed by management, and any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the lower of its cost or fair value less cost to sell. The carrying amount of residential real estate included in other real estate owned was $660,000 December 31, 2015; December 31, 2016. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangible Assets Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill and other intangible assets deemed to have an indefinite useful life are not amortized but instead are subject to review for impairment annually, or more frequently if deemed necessary. Intangible assets with estimable useful lives are amortized over their respective estimated useful lives and reviewed for impairment. If impaired, the asset is written down to its estimated fair value. Core deposit intangibles representing the value of the acquired core deposit base are generally recorded in connection with business combinations involving banks and branch locations. The Company ’s policy is to amortize core deposit intangibles on a straight line basis over their estimated useful life of 10 may |
Income Tax, Policy [Policy Text Block] | Income Taxes The provision for income taxes is based on amounts reported in the statement of income after exclusion of nontaxable income such as interest on state and municipal securities. Also, certain items of income and expense are recognized in different time periods for financial statement purposes than for income tax purposes. Thus, provisions for deferred taxes are recorded in recognition of such temporary differences. Deferred taxes are provided utilizing a liability method whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the reported amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company files a consolidated federal income tax return. Consolidated income tax expense is allocated on the basis of each entity ’s income adjusted for permanent differences. The Company evaluates all significant tax positions as required by accounting principles generally accepted in the United States of America. As of December 31, 201 6, The Company files income tax returns in the U.S. federal jurisdiction and the state of Louisiana. With few exceptions, the Company is no longer subject to federal and state income tax examinations by tax authorities for years before 2013. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock Based Compensation As described in Note 16, |
Cash and Cash Equivalents, Policy [Policy Text Block] | Statements of Cash Flows For purposes of reporting cash flows, cash and cash equivalents include cash on hand and deposits in other financial institutions. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income. The components of comprehensive income are disclosed on the Consolidated Statements of Comprehensive Income for all periods presented. |
Advertising Cost, Policy, Expensed Advertising Cost [Policy Text Block] | Advertising The Company expenses all costs of advertising and promotion the first promotion takes place. For the years ended December 31, 2016, 2015 2014, $849,000, $437,000 $190,000, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In September 2015, the FASB issued ASU No. 2015 16, Business Combinations (Topic 805), December 15, 2015, first In January 2016, 2016 16, Financial Instruments - Overall (Subtopic 825 10), may 2016 16 December 15, 2017, In February 2016, 2016 02, Leases (Topic 842), December 15, 2018. In March 2016, 2016 09, Compensation - Stock Compensation (Topic 718), December 15, 2016, In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326), may December 31, 2019. first |
Note 3 - Mergers and Acquisit36
Note 3 - Mergers and Acquisitions - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | 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 Liablilites 330,488 Net Assets Acquired 41,033 Goodwill Resulting from Merger $ 6,824 |
Note 4 - Earnings Per Common 37
Note 4 - Earnings Per Common Share - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended December 31, 2016 2015 2014 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 5,111 $ 4,096 $ 4,033 Denominator: Weighted Average Common Shares Outstanding 7,033,476 6,694,075 5,314,925 Dilutive Effect of Stock Options and Warrants 281,607 288,981 293,600 Weighted Average Dilutive Common Shares 7,315,083 6,983,056 5,608,525 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.73 $ 0.61 $ 0.76 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.70 $ 0.59 $ 0.72 |
Note 6 - Securities - (Tables)
Note 6 - Securities - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | December 31, 2016 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 7,580 $ 36 $ 50 $ 7,566 Corporate Securities 11,148 31 52 11,127 Mortgage-Backed Securities 101,766 20 2,414 99,372 Municipal Securities 80,559 210 1,133 79,636 Other Securities 820 - 179 641 Total Securities Available for Sale $ 201,873 $ 297 $ 3,828 $ 198,342 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 Total Securities Available for Sale $ 212,053 $ 956 $ 2,152 $ 210,857 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | December 31, 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 $ 4,535 $ 50 $ - $ - $ 4,535 $ 50 Corporate Securities 2,010 31 4,515 21 6,525 52 Mortgage-Backed Securities 86,091 1,974 9,885 440 95,976 2,414 Municipal Securities 54,533 1,128 207 5 54,740 1,133 Other Securities - - 641 179 641 179 Total Securities Available for Sale $ 147,169 $ 3,183 $ 15,248 $ 645 $ 162,417 $ 3,828 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 Total Securities Available for Sale $ 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 $ 7,346 $ 7,349 One to Five Years 48,592 48,334 Over Five to Ten Years 61,477 60,499 Over Ten Years 84,458 82,160 Total Securities Available for Sale $ 201,873 $ 198,342 |
Note 7 - Loans and the Allowa39
Note 7 - Loans and the Allowance for Loan Losses - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2016 2015 (Dollars in thousands) Real estate loans: Construction and land $ 94,426 $ 97,872 Farmland 9,217 8,897 1-4 family residential 129,052 112,954 Multi-family residential 22,737 26,058 Nonfarm nonresidential 298,057 312,207 Commercial 213,120 185,276 Consumer 44,342 29,128 Total loans held for investment 810,951 772,392 Less: Allowance for loan losses (8,162 ) (7,244 ) Net loans $ 802,789 $ 765,148 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | December 31, 2016 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Multi- Real Estate: Construction Real Estate: 1-4 Family 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 ) - (473 ) (667 ) (3 ) (1,789 ) Recoveries 10 - 140 - 1,258 33 46 1,487 Provision 807 45 229 71 113 55 (100 ) 1,220 Ending Balance $ 933 $ 75 $ 1,228 $ 172 $ 2,314 $ 3,039 $ 401 $ 8,162 Ending Balance: Individually evaluated for impairment $ - $ - $ 252 $ - $ 98 $ 501 $ 36 $ 887 Collectively evaluated for impairment $ 933 $ 75 $ 943 $ 172 $ 2,216 $ 2,538 $ 365 $ 7,242 Purchased Credit Impaired (1) $ - $ - $ 33 $ - $ - $ - $ - $ 33 Loans receivable: Ending Balance $ 94,426 $ 9,217 $ 129,052 $ 22,737 $ 298,057 $ 213,120 $ 44,342 $ 810,951 Ending Balance: Individually evaluated for impairment $ 143 $ - $ 3,263 $ - $ 1,073 $ 7,332 $ 198 $ 12,009 Collectively evaluated for impairment $ 94,117 $ 9,217 $ 125,573 $ 22,737 $ 295,590 $ 205,788 $ 44,144 $ 797,166 Purchased Credit Impaired (1) $ 166 $ - $ 216 $ - $ 1,394 $ - $ - $ 1,776 December 31, 2015 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Multi- Real Estate: Construction Real Estate: 1-4 Family 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] | December 31, 2016 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 92,951 $ 932 $ 300 $ 243 $ 94,426 Farmland 9,217 - - - 9,217 1-4 family residential 118,891 4,782 2,658 2,721 129,052 Multi-family residential 22,685 - 52 - 22,737 Nonfarm nonresidential 280,398 14,531 1,927 1,201 298,057 Commercial 186,197 16,783 7,377 2,763 213,120 Consumer 43,414 505 225 198 44,342 Total $ 753,753 $ 37,533 $ 12,539 $ 7,126 $ 810,951 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] | December 31, 2016 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Receivable Recorded Investment Over 90 Days Past Due and Still Accruing Real Estate Loans: Construction and land $ 465 $ - $ 106 $ 571 $ 93,855 $ 94,426 $ - Farmland - - - - 9,217 9,217 - 1-4 family residential 989 579 963 2,531 126,521 129,052 117 Multi-family residential - - - - 22,737 22,737 - Nonfarm nonresidential 1,370 173 532 2,075 295,982 298,057 - Commercial 45 372 262 679 212,441 213,120 51 Consumer 66 - 149 215 44,127 44,342 - Total $ 2,935 $ 1,124 $ 2,012 $ 6,071 $ 804,880 $ 810,951 $ 168 December 31, 2015 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Receivable Recorded Investment Over 90 Days Past Due 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 $ - |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | December 31, 2016 2015 (Dollars in thousands) Real Estate Loans: Construction and land $ 243 $ 1,738 Farmland - - 1-4 family residential 2,721 3,205 Multi-family residential - 229 Nonfarm nonresidential 1,201 1,806 Commercial 2,763 979 Consumer 198 - Total $ 7,126 $ 7,957 |
Impaired Financing Receivables [Table Text Block] | December 31, 2016 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ - $ - $ - $ 655 Farmland - - - - 1-4 family residential 440 470 252 372 Multi-family residential - - - - Nonfarm nonresidential 368 368 98 31 Other Loans: Commercial 695 709 501 1,252 Consumer 36 36 36 12 Total $ 1,539 $ 1,583 $ 887 $ 2,322 With no allowance recorded: Real Estate Loans: Construction and land $ 143 $ 152 $ - $ 124 Farmland - - - - 1-4 family residential 2,823 3,276 - 3,296 Multi-family residential - - - - Nonfarm nonresidential 705 729 - 3,730 Other Loans: Commercial 6,637 7,826 - 3,680 Consumer 162 162 - 43 Total $ 10,470 $ 12,145 $ - $ 10,873 Total Impaired Loans: Real Estate Loans: Construction and land $ 143 $ 152 $ - $ 779 Farmland - - - - 1-4 family residential 3,263 3,746 252 3,668 Multi-family residential - - - - Nonfarm nonresidential 1,073 1,097 98 3,761 Other Loans: Commercial 7,332 8,535 501 4,932 Consumer 198 198 36 55 Total $ 12,009 $ 13,728 $ 887 $ 13,195 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 - - - - Total $ 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 Total $ 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 Total $ 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 (1,181 ) Charge-offs (352 ) Transfer to other real estate (325 ) Carrying amount - December 31, 2016 $ 1,776 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Modifications as of December 31, 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 3 $ 870 $ 608 Other Loans: Commercial 6 6,880 5,323 Total 9 $ 7,750 $ 5,931 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 11 $ 8,447 $ 5,865 |
Note 8 - Premises and Equipme40
Note 8 - Premises and Equipment - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2016 2015 (Dollars in thousands) Land $ 2,098 $ 2,126 Buildings and Leasehold Improvements 6,875 6,446 Furniture and Equipment 6,007 5,128 Total Bank Premises and Equipment 14,980 13,700 Less: Accumulated Depreciation (5,699 ) (4,466 ) Total Bank Premises and Equipment, net $ 9,281 $ 9,234 |
Note 9 - Goodwill and Other I41
Note 9 - Goodwill and Other Intangible Assets - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 2016 2015 (Dollars in thousands) (Dollars in thousands) Gross Carrying Amount 2,762 2,762 Less: Accumulated Amortization (483 ) (207 ) Net Carrying Amount $ 2,279 $ 2,555 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | December 31, (Dollars in thousands) 2017 $ 276 2018 276 2019 276 2020 276 2021 276 Thereafter 899 Total Core Deposit Intangible $ 2,279 |
Note 10 - Deposits - (Tables)
Note 10 - Deposits - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Summary of Deposits [Table Text Block] | 2016 2015 (Dollars in thousands) Noninterest Bearing - DDA $ 16,950 $ 44,024 Noninterest Bearing - Money Market Account 206,755 178,464 Noninterest Bearing Deposits 223,705 222,488 Interest Bearing - DDA 31,457 26,928 NOW and Super NOW Accounts 17,051 15,405 Money Market Accounts 287,189 329,955 Savings Accounts 35,181 36,137 Certificates of Deposit Over $250,000 73,346 52,418 Other Certificates of Deposit 264,866 220,905 Interest Bearing Deposits 709,090 681,748 Total Deposits $ 932,795 $ 904,236 |
Note 13 - Income Taxes - (Table
Note 13 - Income Taxes - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2016 2015 2014 (Dollars in thousands) Provision (Credit) for Current Taxes - Federal $ 660 $ 1,599 $ 2,128 Provision (Credit) for Deferred Taxes 953 (74 ) (764 ) Total Provision for Income Taxes $ 1,613 $ 1,525 $ 1,364 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2016 2015 2014 (Dollars in thousands) Federal Statutory Income Tax at 34% $ 2,286 $ 1,911 $ 1,835 Tax Exempt Income (708 ) (559 ) (707 ) Other - Net 35 173 236 Total Provision for Income Taxes $ 1,613 $ 1,525 $ 1,364 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2016 2015 (Dollars in thousands) Allowance for Loan Losses $ 2,775 $ 2,463 Acquried Loans Fair Market Value Adjustment 2,168 2,631 Acquired Securities Difference in Basis (744 ) (826 ) Amortization of Start-Up Costs 55 69 Stock Warrants and Options 1,217 1,063 Depreciation (799 ) (804 ) Interest on Acquired Nonaccrual Loans 42 47 Unrealized (Gain) Loss on Securities 1,201 406 Other Real Estate 110 147 Core Deposit Intangible (775 ) (869 ) Acquired FHLB Debt Fair Market Value Adjustment 228 476 Deferred Compensation 723 907 Alternative Minimum Tax Credit 345 984 Net Operating Loss Carryforward 78 88 Net Deferred Tax Asset $ 6,624 $ 6,782 |
Note 14 - Accumulated Other C44
Note 14 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | 2016 2015 (Dollars in thousands) Unrealized Gains (Losses) on Securities Available for Sale: Balance at Beginning of Year $ (789 ) $ (643 ) Other Comprehensive Income (Loss) Before Reclassifications - Net of Tax (1,694 ) (136 ) Reclassification Adjustment for Gains (Losses) Realized - Net of Tax 153 (10 ) Other Comprehensive Income (Loss) (1,541 ) (146 ) Balance at End of Year $ (2,330 ) $ (789 ) |
Note 15 - Stockholders' Equit45
Note 15 - Stockholders' Equity and Regulatory Matters - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2016: Total Capital (to Risk-Weighted Assets) $ 117,909 11.89 % $ 79,324 8.00 % $ 99,155 10.00 % Tier I Capital (to Risk-Weighted Assets) $ 109,747 11.07 % $ 59,493 6.00 % $ 79,324 8.00 % Common Equity Tier 1 Capital (to Risk-Weighted Assets) $ 109,747 11.07 % $ 44,620 4.50 % $ 64,451 6.50 % Tier I Leveraged Capital (to Average Assets) $ 109,747 9.91 % $ 44,311 4.00 % $ 55,389 5.00 % December 31, 2015: Total Capital (to Risk-Weighted Assets) $ 115,828 12.17 % $ 76,159 8.00 % $ 95,199 10.00 % Tier I Capital (to Risk-Weighted Assets) $ 108,584 11.41 % $ 57,120 6.00 % $ 76,159 8.00 % Common Equity Tier 1 Capital (to Risk-Weighted Assets) $ 108,584 11.41 % $ 42,840 4.50 % $ 61,879 6.50 % Tier I Leveraged Capital (to Average Assets) $ 108,584 10.17 % $ 42,703 4.00 % $ 53,379 5.00 % |
Note 16 - Stock Based Compens46
Note 16 - Stock Based Compensation - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2016 2015 Risk-Free Interest Rate 1.36 % 1.44 % Expected Dividend Yield 1.18 % 0.00 % Expected Volatility 31.68 % 29.39 % Expected Life in Years 5 5 Weighted Average Calculated Value of Options Granted $ 4.27 $ 4.87 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Weighted Average Options Exercise Price Outstanding Options, December 31, 2015 953,280 $ 12.59 Granted 50,000 17.65 Exercised - Forfeited or Expired (4,800 ) 17.11 Outstanding Options, December 31, 2016 998,480 $ 12.82 |
Note 18 - Other Expenses - (Tab
Note 18 - Other Expenses - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | 2016 2015 2014 (Dollars in thousands) Business Development $ 1,253 $ 805 $ 526 Communications 872 469 286 Ad Valorem Shares Tax 650 669 540 Data Processing Fees 1,528 1,141 699 Directors Fees 337 325 366 Insurance 301 284 168 Legal and Professional Fees 1,806 1,980 1,193 Office Supplies and Printing 455 437 147 Regulatory Assessments 847 880 425 Taxes and Licenses 24 10 21 Nonrecurring Merger and Conversion Costs 8 1,149 - Other 2,943 2,274 1,119 Total Other Expenses $ 11,024 $ 10,423 $ 5,490 |
Note 21 - Commitments - (Tables
Note 21 - Commitments - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | December 31, (Dollars in thousands) 2017 $ 1,591 2018 1,459 2019 1,322 2020 961 2021 and Thereafter 5,969 Total Future Minimum Lease Payments $ 11,302 |
Other Commitments [Table Text Block] | McLarty Bluehenge (Dollars in thousands) Total Capital Commitment $ 2,000 $ 1,500 Capital Called $ 1,670 $ 412 Remaining Unfunded Capital Commitment $ 330 $ 1,088 |
Note 22 - Related Party Trans49
Note 22 - Related Party Transactions - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | 2016 2015 (Dollars in thousands) Balance - Beginning of Year $ 22,004 $ 28,664 New Loans 6,570 5,602 Repayments (13,435 ) (12,262 ) Balance - End of Year $ 15,139 $ 22,004 |
Note 23 - Fair Value of Finan50
Note 23 - Fair Value of Financial Instruments - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) December 31, 2016 Available for Sale: U.S. Government Agency Securities $ 7,566 $ - $ 7,566 $ - Corporate Securities 11,127 - 11,127 - Mortgage-Backed Securities 99,372 - 99,372 - Municipal Securities 79,636 - 79,636 - Other Securities 641 - 641 - Total $ 198,342 $ - $ 198,342 $ - December 31, 2015 Available for Sale: U.S. Government Agency Securities $ 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] | Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) December 31, 2016 Assets: Impaired Loans $ 12,865 $ - $ 12,865 $ - Repossessed Assets 1,196 - 1,196 - Total $ 14,061 $ - $ 14,061 $ - 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] | Carrying Amount Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) December 31, 2016 Financial Assets: Cash and Short-Term Investments $ 44,729 $ 44,729 $ 44,729 $ - $ - Securities 198,342 198,342 - 198,342 - Mortgage Loans Held for Sale 180 180 - 180 - Loans - Net 802,789 796,400 - - 796,400 Cash Value of BOLI 22,567 22,567 - 22,567 - Other Equity Securities 6,120 6,120 - - 6,120 Total $ 1,074,727 $ 1,068,338 $ 44,729 $ 221,089 $ 802,520 Financial Liabilities: Deposits $ 932,795 $ 912,702 $ - $ - $ 912,702 Borrowings 53,646 53,706 - 53,706 - Total $ 986,441 $ 966,408 $ - $ 53,706 $ 912,702 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 26 - Financial Statement51
Note 26 - Financial Statements - Parent Company Only - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | 2016 2015 Assets: Cash $ 54 $ 359 Investment in Subsidiaries 116,031 113,265 Other Assets 2,354 1,906 Total Assets $ 118,439 $ 115,530 Liabilities: Short Term Borrowings $ 862 $ 3,000 Accrued Interest Payable 6 21 Long Term Borrowings 3,000 - Other Liabilities 1,012 60 Total Liabilities 4,880 3,081 Stockholders' Equity: Common Stock 6,917 7,036 Additional Paid-in Capital 85,133 85,913 Retained Earnings 21,509 19,500 Total Stockholders' Equity 113,559 112,449 Total Liabilities and Stockholders' Equity $ 118,439 $ 115,530 |
Condensed Income Statement [Table Text Block] | 2016 2015 2014 Income: Interest $ - $ 1 $ 4 Expenses: Other Operating Expenses 1,464 1,437 1,095 Income (Loss) before Income Taxes and Equity in Undistributed Net Income of Subsidiaries (1,464 ) (1,436 ) (1,091 ) Income Tax Expense (Benefit) (498 ) (474 ) (371 ) Income (Loss) before Equity in Undistributed Net Income of Subsidiaries (966 ) (962 ) (720 ) Equity in Undistributed Net Income of Subsidiaries 6,077 5,058 4,753 Net Income $ 5,111 $ 4,096 $ 4,033 |
Note 1 - Nature of Operations52
Note 1 - Nature of Operations - Summary of Significant Accounting Policies - (Details Textual) | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Number of Locations in Operation | 16 | ||
Number of Loan Production Offices | 1 | ||
Number of Wealth Solution Offices | 1 | ||
Real Estate Acquired Through Foreclosure | $ 1,187,000 | $ 2,033,000 | |
Advertising Expense | 849,000 | 437,000 | $ 190,000 |
Held-to-maturity Securities | 0 | 0 | |
Trading Securities | 0 | $ 0 | |
Core Deposits [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Residential Real Estate [Member] | |||
Real Estate Acquired Through Foreclosure | $ 0 | $ 660,000 |
Note 3 - Mergers and Acquisit53
Note 3 - Mergers and Acquisitions - (Details Textual) | Mar. 31, 2015 |
American Gateway Financial Corporation [Member] | |
Number of Branches | 10 |
Note 3 - Mergers and Acquisit54
Note 3 - Mergers and Acquisitions - Cost of Acquisition and Allocation of Purchase Price (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2016USD ($) | |
Net Assets Acquired: | ||
Goodwill Resulting from Merger | $ 3,376 | $ 6,824 |
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 | |
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 Liablilites | 330,488 | |
Net Assets Acquired | 41,033 | |
Goodwill Resulting from Merger | $ 6,824 |
Note 4 - Earnings Per Common 55
Note 4 - Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net Income Available to Common Shares | $ 5,111 | $ 4,096 | $ 4,033 |
Weighted Average Common Shares Outstanding (in shares) | 7,033,476 | 6,694,075 | 5,314,925 |
Dilutive Effect of Stock Options and Warrants (in shares) | 281,607 | 288,981 | 293,600 |
Weighted Average Dilutive Common Shares (in shares) | 7,315,083 | 6,983,056 | 5,608,525 |
Basic Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.73 | $ 0.61 | $ 0.76 |
Diluted Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.70 | $ 0.59 | $ 0.72 |
Note 5 - Cash and Due From Ba56
Note 5 - Cash and Due From Bank - (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Reserve Requirements with Federal Reserve | $ 0 | $ 0 |
Note 6 - Securities - (Details
Note 6 - Securities - (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Available-for-sale Securities Pledged as Collateral | $ 86,000,000 | $ 107,900,000 | |
Available-for-sale Securities, Gross Realized Gains | 260,000 | 3,000 | $ 530,000 |
Available-for-sale Securities, Gross Realized Losses | 28,000 | 18,000 | $ 517,000 |
Other Equity Securities | 6,120,000 | 5,350,000 | |
The Independent Banker's Bank [Member] | |||
Other Equity Securities | 100,000 | 100,000 | |
Mc Larty Capital Partners SBIC L.P [Member] | |||
Other Equity Securities | 1,600,000 | 1,300,000 | |
Bluehenge Capital Secured Debt SBIC L.P [Member] | |||
Other Equity Securities | 348,000 | 254,000 | |
Bankers Insurance LLC [Member] | |||
Other Equity Securities | 234,000 | 243,000 | |
First National Bankers Bank [Member] | |||
Other Equity Securities | 252,000 | ||
Federal Home Loan Bank of Dallas [Member] | |||
Other Equity Securities | $ 3,600,000 | $ 3,500,000 |
Note 6 - Securities - Amortized
Note 6 - Securities - Amortized Cost and Fair Values of Securities Available-for-sale (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Amortized Cost | $ 201,873 | $ 212,053 |
Gross Unrealized Gains | 297 | 956 |
Gross Unrealized Losses | 3,828 | 2,152 |
Securities Available for Sale, at Fair Values | 198,342 | 210,857 |
Amortized Cost | 201,873 | 212,053 |
US Government Agencies Debt Securities [Member] | ||
Amortized Cost | 7,580 | 13,656 |
Gross Unrealized Gains | 36 | 43 |
Gross Unrealized Losses | 50 | 32 |
Securities Available for Sale, at Fair Values | 7,566 | 13,667 |
Amortized Cost | 7,580 | 13,656 |
Corporate Debt Securities [Member] | ||
Amortized Cost | 11,148 | 11,177 |
Gross Unrealized Gains | 31 | 0 |
Gross Unrealized Losses | 52 | 105 |
Securities Available for Sale, at Fair Values | 11,127 | 11,072 |
Amortized Cost | 11,148 | 11,177 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized Cost | 101,766 | 120,599 |
Gross Unrealized Gains | 20 | 39 |
Gross Unrealized Losses | 2,414 | 1,568 |
Securities Available for Sale, at Fair Values | 99,372 | 119,070 |
Amortized Cost | 101,766 | 120,599 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized Cost | 80,559 | 65,679 |
Gross Unrealized Gains | 210 | 874 |
Gross Unrealized Losses | 1,133 | 112 |
Securities Available for Sale, at Fair Values | 79,636 | 66,441 |
Amortized Cost | 80,559 | 65,679 |
Other Debt Obligations [Member] | ||
Amortized Cost | 820 | 942 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 179 | 335 |
Securities Available for Sale, at Fair Values | 641 | 607 |
Amortized Cost | $ 820 | $ 942 |
Note 6 - Securities - Summary o
Note 6 - Securities - Summary of Securities with Gross Unrealized Losses and Fair Values (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Less Than 12 Months | $ 147,169 | $ 125,279 |
Gross Unrealized Losses, Less Than 12 Months | 3,183 | 1,209 |
Fair Value, 12 Months or Greater | 15,248 | 26,491 |
Gross Unrealized Losses, 12 Months or Greater | 645 | 943 |
Fair Value | 162,417 | 151,770 |
Gross Unrealized Losses | 3,828 | 2,152 |
US Government Agencies Debt Securities [Member] | ||
Fair Value, Less Than 12 Months | 4,535 | 8,840 |
Gross Unrealized Losses, Less Than 12 Months | 50 | 32 |
Fair Value, 12 Months or Greater | 0 | |
Gross Unrealized Losses, 12 Months or Greater | 0 | |
Fair Value | 4,535 | 8,840 |
Gross Unrealized Losses | 50 | 32 |
Corporate Debt Securities [Member] | ||
Fair Value, Less Than 12 Months | 2,010 | 11,072 |
Gross Unrealized Losses, Less Than 12 Months | 31 | 105 |
Fair Value, 12 Months or Greater | 4,515 | |
Gross Unrealized Losses, 12 Months or Greater | 21 | |
Fair Value | 6,525 | 11,072 |
Gross Unrealized Losses | 52 | 105 |
Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Less Than 12 Months | 86,091 | 91,384 |
Gross Unrealized Losses, Less Than 12 Months | 1,974 | 1,029 |
Fair Value, 12 Months or Greater | 9,885 | 23,386 |
Gross Unrealized Losses, 12 Months or Greater | 440 | 539 |
Fair Value | 95,976 | 114,770 |
Gross Unrealized Losses | 2,414 | 1,568 |
US States and Political Subdivisions Debt Securities [Member] | ||
Fair Value, Less Than 12 Months | 54,533 | 13,983 |
Gross Unrealized Losses, Less Than 12 Months | 1,128 | 43 |
Fair Value, 12 Months or Greater | 207 | 2,498 |
Gross Unrealized Losses, 12 Months or Greater | 5 | 69 |
Fair Value | 54,740 | 16,481 |
Gross Unrealized Losses | 1,133 | 112 |
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 | 641 | 607 |
Gross Unrealized Losses, 12 Months or Greater | 179 | 335 |
Fair Value | 641 | 607 |
Gross Unrealized Losses | $ 179 | $ 335 |
Note 6 - Securities - Summary60
Note 6 - Securities - Summary of Amortized Cost and Fair Values of Securities Available-for-sale by Contractual Maturity (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Less Than One Year, Amortized Cost | $ 7,346 |
Less Than One Year, Fair Value | 7,349 |
One to Five Years, Amortized Cost | 48,592 |
One to Five Years, Fair Value | 48,334 |
Over Five to Ten Years, Amortized Cost | 61,477 |
Over Five to Ten Years, Fair Value | 60,499 |
Over Ten Years, Amortized Cost | 84,458 |
Over Ten Years, Fair Value | 82,160 |
Amortized Cost | 201,873 |
Fair Value | $ 198,342 |
Note 7 - Loans and the Allowa61
Note 7 - Loans and the Allowance for Loan Losses - (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Apr. 01, 2015 | |
Loans and Leases Receivable, Deferred Income | $ 761,000 | $ 740,000 | |
Loans and Leases Receivable Reclassified from Overdraft | 232,000 | 150,000 | |
Loans Receivable, Unpaid Principal Balance | 55,500,000 | 44,700,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 168,000 | 0 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,126,000 | 7,957,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 464,000 | 386,000 | |
Loans and Leases Receivable, Net of Deferred Income | 810,951,000 | 772,392,000 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 54,000 | |
American Gateway Financial Corporation [Member] | Performing Financial Instruments [Member] | |||
Loans and Leases Receivable, Deferred Income | 2,400,000 | 3,200,000 | |
Loans and Leases Receivable, Net of Deferred Income | $ 65,900,000 | $ 93,100,000 | $ 142,800,000 |
Loans Receivable, Fair Value Disclosure | $ 138,100,000 |
Note 7 - Loans and the Allowa62
Note 7 - Loans and the Allowance for Loan Losses - Summary of Loans Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans and Leases Receivable, Net of Deferred Income | $ 810,951 | $ 772,392 | |
Allowance for loan losses | (8,162) | (7,244) | $ (6,632) |
Net loans | 802,789 | 765,148 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 94,426 | 97,872 | |
Allowance for loan losses | (933) | (600) | (525) |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 9,217 | 8,897 | |
Allowance for loan losses | (75) | (30) | (19) |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 298,057 | 312,207 | |
Allowance for loan losses | (2,314) | (1,416) | (1,140) |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 129,052 | 112,954 | |
Allowance for loan losses | (1,228) | (1,021) | (775) |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 22,737 | 26,058 | |
Allowance for loan losses | (172) | (101) | (35) |
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 213,120 | 185,276 | |
Allowance for loan losses | (3,039) | (3,618) | (3,813) |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable, Net of Deferred Income | 44,342 | 29,128 | |
Allowance for loan losses | $ (401) | $ (458) | $ (325) |
Note 7 - Loans and the Allowa63
Note 7 - Loans and the Allowance for Loan Losses - Summary of Allowance for Credit Losses and Recorded Investment in Loans Receivable (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Allowance for credit losses, Beginning Balance | $ 7,244 | $ 6,632 | ||
Allowance for credit losses, Charge-offs | (1,789) | (985) | ||
Allowance for credit losses, Recoveries | 1,487 | 397 | ||
Allowance for credit losses, Provision | 1,220 | 1,200 | $ 700 | |
Allowance for credit losses, Ending Balance | 8,162 | 7,244 | 6,632 | |
Allowance for credit losses, Individually evaluated for impairment | 887 | 1,108 | ||
Allowance for credit losses, Collectively evaluated for impairment | 7,242 | 6,038 | ||
Allowance for credit losses, Purchased Credit Impaired | [1] | 33 | 98 | |
Loans receivable, Ending Balance | 810,951 | 772,392 | ||
Loans receivable, Individually evaluated for impairment | 12,009 | 11,796 | ||
Loans receivable, Collectively evaluated for impairment | 797,166 | 756,962 | ||
Loans receivable, Purchased Credit Impaired | [1] | 1,776 | 3,634 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||||
Allowance for credit losses, Beginning Balance | 600 | 525 | ||
Allowance for credit losses, Charge-offs | (484) | (102) | ||
Allowance for credit losses, Recoveries | 10 | 34 | ||
Allowance for credit losses, Provision | 807 | 143 | ||
Allowance for credit losses, Ending Balance | 933 | 600 | 525 | |
Allowance for credit losses, Individually evaluated for impairment | 0 | 504 | ||
Allowance for credit losses, Collectively evaluated for impairment | 933 | 96 | ||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 0 | |
Loans receivable, Ending Balance | 94,426 | 97,872 | ||
Loans receivable, Individually evaluated for impairment | 143 | 1,732 | ||
Loans receivable, Collectively evaluated for impairment | 94,117 | 96,046 | ||
Loans receivable, Purchased Credit Impaired | [1] | 166 | 94 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||||
Allowance for credit losses, Beginning Balance | 30 | 19 | ||
Allowance for credit losses, Charge-offs | 0 | 0 | ||
Allowance for credit losses, Recoveries | 0 | 0 | ||
Allowance for credit losses, Provision | 45 | 11 | ||
Allowance for credit losses, Ending Balance | 75 | 30 | 19 | |
Allowance for credit losses, Individually evaluated for impairment | 0 | 0 | ||
Allowance for credit losses, Collectively evaluated for impairment | 75 | 30 | ||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 0 | |
Loans receivable, Ending Balance | 9,217 | 8,897 | ||
Loans receivable, Individually evaluated for impairment | 0 | 0 | ||
Loans receivable, Collectively evaluated for impairment | 9,217 | 8,897 | ||
Loans receivable, Purchased Credit Impaired | [1] | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||||
Allowance for credit losses, Beginning Balance | 1,416 | 1,140 | ||
Allowance for credit losses, Charge-offs | (473) | (44) | ||
Allowance for credit losses, Recoveries | 1,258 | 13 | ||
Allowance for credit losses, Provision | 113 | 307 | ||
Allowance for credit losses, Ending Balance | 2,314 | 1,416 | 1,140 | |
Allowance for credit losses, Individually evaluated for impairment | 98 | 0 | ||
Allowance for credit losses, Collectively evaluated for impairment | 2,216 | 1,416 | ||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 0 | |
Loans receivable, Ending Balance | 298,057 | 312,207 | ||
Loans receivable, Individually evaluated for impairment | 1,073 | 4,172 | ||
Loans receivable, Collectively evaluated for impairment | 295,590 | 305,234 | ||
Loans receivable, Purchased Credit Impaired | [1] | 1,394 | 2,801 | |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||||
Allowance for credit losses, Beginning Balance | 1,021 | 775 | ||
Allowance for credit losses, Charge-offs | (162) | (144) | ||
Allowance for credit losses, Recoveries | 140 | 94 | ||
Allowance for credit losses, Provision | 229 | 296 | ||
Allowance for credit losses, Ending Balance | 1,228 | 1,021 | 775 | |
Allowance for credit losses, Individually evaluated for impairment | 252 | 129 | ||
Allowance for credit losses, Collectively evaluated for impairment | 943 | 838 | ||
Allowance for credit losses, Purchased Credit Impaired | [1] | 33 | 54 | |
Loans receivable, Ending Balance | 129,052 | 112,954 | ||
Loans receivable, Individually evaluated for impairment | 3,263 | 3,666 | ||
Loans receivable, Collectively evaluated for impairment | 125,573 | 108,778 | ||
Loans receivable, Purchased Credit Impaired | [1] | 216 | 510 | |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||||
Allowance for credit losses, Beginning Balance | 101 | 35 | ||
Allowance for credit losses, Charge-offs | 0 | 0 | ||
Allowance for credit losses, Recoveries | 0 | 0 | ||
Allowance for credit losses, Provision | 71 | 66 | ||
Allowance for credit losses, Ending Balance | 172 | 101 | 35 | |
Allowance for credit losses, Individually evaluated for impairment | 0 | 0 | ||
Allowance for credit losses, Collectively evaluated for impairment | 172 | 57 | ||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 44 | |
Loans receivable, Ending Balance | 22,737 | 26,058 | ||
Loans receivable, Individually evaluated for impairment | 0 | 0 | ||
Loans receivable, Collectively evaluated for impairment | 22,737 | 25,829 | ||
Loans receivable, Purchased Credit Impaired | [1] | 0 | 229 | |
Commercial Portfolio Segment [Member] | ||||
Allowance for credit losses, Beginning Balance | 3,618 | 3,813 | ||
Allowance for credit losses, Charge-offs | (667) | (695) | ||
Allowance for credit losses, Recoveries | 33 | 164 | ||
Allowance for credit losses, Provision | 55 | 336 | ||
Allowance for credit losses, Ending Balance | 3,039 | 3,618 | 3,813 | |
Allowance for credit losses, Individually evaluated for impairment | 501 | 475 | ||
Allowance for credit losses, Collectively evaluated for impairment | 2,538 | 3,143 | ||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 0 | |
Loans receivable, Ending Balance | 213,120 | 185,276 | ||
Loans receivable, Individually evaluated for impairment | 7,332 | 2,226 | ||
Loans receivable, Collectively evaluated for impairment | 205,788 | 183,050 | ||
Loans receivable, Purchased Credit Impaired | [1] | 0 | 0 | |
Consumer Portfolio Segment [Member] | ||||
Allowance for credit losses, Beginning Balance | 458 | 325 | ||
Allowance for credit losses, Charge-offs | (3) | 0 | ||
Allowance for credit losses, Recoveries | 46 | 92 | ||
Allowance for credit losses, Provision | (100) | 41 | ||
Allowance for credit losses, Ending Balance | 401 | 458 | $ 325 | |
Allowance for credit losses, Individually evaluated for impairment | 36 | |||
Allowance for credit losses, Collectively evaluated for impairment | 365 | 458 | ||
Allowance for credit losses, Purchased Credit Impaired | [1] | 0 | 0 | |
Loans receivable, Ending Balance | 44,342 | 29,128 | ||
Loans receivable, Individually evaluated for impairment | 198 | 0 | ||
Loans receivable, Collectively evaluated for impairment | 44,144 | 29,128 | ||
Loans receivable, Purchased Credit Impaired | [1] | $ 0 | $ 0 | |
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 7 - Loans and the Allowa64
Note 7 - Loans and the Allowance for Loan Losses - Summary of Credit Quality Indicators, Disaggregated by Class of Loan (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Credit quality indicators | $ 810,951 | $ 772,392 |
Pass [Member] | ||
Credit quality indicators | 753,753 | 700,180 |
Special Mention [Member] | ||
Credit quality indicators | 37,533 | 39,414 |
Substandard [Member] | ||
Credit quality indicators | 12,539 | 24,841 |
Doubtful [Member] | ||
Credit quality indicators | 7,126 | 7,957 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Credit quality indicators | 94,426 | 97,872 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Pass [Member] | ||
Credit quality indicators | 92,951 | 93,740 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Special Mention [Member] | ||
Credit quality indicators | 932 | 1,300 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Substandard [Member] | ||
Credit quality indicators | 300 | 1,094 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Doubtful [Member] | ||
Credit quality indicators | 243 | 1,738 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Credit quality indicators | 9,217 | 8,897 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | ||
Credit quality indicators | 9,217 | 8,897 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | ||
Credit quality indicators | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Substandard [Member] | ||
Credit quality indicators | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Doubtful [Member] | ||
Credit quality indicators | ||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Credit quality indicators | 298,057 | 312,207 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Pass [Member] | ||
Credit quality indicators | 280,398 | 281,503 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Special Mention [Member] | ||
Credit quality indicators | 14,531 | 12,727 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Substandard [Member] | ||
Credit quality indicators | 1,927 | 16,171 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Doubtful [Member] | ||
Credit quality indicators | 1,201 | 1,806 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Credit quality indicators | 129,052 | 112,954 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Pass [Member] | ||
Credit quality indicators | 118,891 | 104,720 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Special Mention [Member] | ||
Credit quality indicators | 4,782 | 1,824 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Substandard [Member] | ||
Credit quality indicators | 2,658 | 3,205 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Doubtful [Member] | ||
Credit quality indicators | 2,721 | 3,205 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Credit quality indicators | 22,737 | 26,058 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Pass [Member] | ||
Credit quality indicators | 22,685 | 24,884 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Special Mention [Member] | ||
Credit quality indicators | 945 | |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Substandard [Member] | ||
Credit quality indicators | 52 | |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Doubtful [Member] | ||
Credit quality indicators | 229 | |
Commercial Portfolio Segment [Member] | ||
Credit quality indicators | 213,120 | 185,276 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Credit quality indicators | 186,197 | 157,734 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Credit quality indicators | 16,783 | 22,222 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Credit quality indicators | 7,377 | 4,341 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Credit quality indicators | 2,763 | 979 |
Consumer Portfolio Segment [Member] | ||
Credit quality indicators | 44,342 | 29,128 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Credit quality indicators | 43,414 | 28,702 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Credit quality indicators | 505 | 396 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Credit quality indicators | 225 | 30 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Credit quality indicators | $ 198 |
Note 7 - Loans and the Allowa65
Note 7 - Loans and the Allowance for Loan Losses - Summary of Aged Analysis of Past Due Loans Receivable (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Past Due | $ 6,071,000 | $ 3,664,000 |
Current | 804,880,000 | 768,728,000 |
Credit quality indicators | 810,951,000 | 772,392,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 168,000 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 2,935,000 | 1,552,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 1,124,000 | 333,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 2,012,000 | 1,779,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Past Due | 571,000 | 394,000 |
Current | 93,855,000 | 97,478,000 |
Credit quality indicators | 94,426,000 | 97,872,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 465,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 0 | 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 | 106,000 | 384,000 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Past Due | 0 | |
Current | 9,217,000 | 8,897,000 |
Credit quality indicators | 9,217,000 | 8,897,000 |
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 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Past Due | 2,075,000 | 1,672,000 |
Current | 295,982,000 | 310,535,000 |
Credit quality indicators | 298,057,000 | 312,207,000 |
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 | 1,370,000 | 1,185,000 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 173,000 | 178,000 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 532,000 | 309,000 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Past Due | 2,531,000 | 1,507,000 |
Current | 126,521,000 | 111,447,000 |
Credit quality indicators | 129,052,000 | 112,954,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 117,000 | 0 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 989,000 | 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 | 579,000 | 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 | 963,000 | 1,086,000 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Past Due | 0 | |
Current | 22,737,000 | 26,058,000 |
Credit quality indicators | 22,737,000 | 26,058,000 |
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 | 0 | |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 0 | |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 0 | |
Commercial Portfolio Segment [Member] | ||
Past Due | 679,000 | 91,000 |
Current | 212,441,000 | 185,185,000 |
Credit quality indicators | 213,120,000 | 185,276,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 51,000 | 0 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 45,000 | 78,000 |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 372,000 | 13,000 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 262,000 | |
Consumer Portfolio Segment [Member] | ||
Past Due | 215,000 | |
Current | 44,127,000 | 29,128,000 |
Credit quality indicators | 44,342,000 | 29,128,000 |
Recorded Investment Over 90 Days Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 66,000 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 0 | |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | $ 149,000 |
Note 7 - Loans and the Allowa66
Note 7 - Loans and the Allowance for Loan Losses - Loan Receivables on Nonaccrual Status (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loans receivable on nonaccrual status | $ 7,126 | $ 7,957 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Loans receivable on nonaccrual status | 243 | 1,738 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Loans receivable on nonaccrual status | ||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Loans receivable on nonaccrual status | 1,201 | 1,806 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Loans receivable on nonaccrual status | 2,721 | 3,205 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Loans receivable on nonaccrual status | 229 | |
Commercial Portfolio Segment [Member] | ||
Loans receivable on nonaccrual status | 2,763 | 979 |
Consumer Portfolio Segment [Member] | ||
Loans receivable on nonaccrual status | $ 198 |
Note 7 - Loans and the Allowa67
Note 7 - Loans and the Allowance for Loan Losses - Summary of Information Pertaining to Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Recorded Investment, with an allowance recorded | $ 1,539 | $ 2,616 |
Unpaid Principal Balance, with an allowance recorded | 1,583 | 3,480 |
Related Allowance | 887 | 1,108 |
Average Recorded Investment, with an allowance recorded | 2,322 | 2,378 |
Recorded Investment, with no allowance recorded | 10,470 | 9,180 |
Unpaid Principal Balance, with no allowance recorded | 12,145 | 11,142 |
Average Recorded Investment, with no allowance recorded | 10,873 | 10,907 |
Recorded Investment | 12,009 | 11,796 |
Unpaid Principal Balance | 13,728 | 14,622 |
Average Recorded Investment | 13,195 | 13,285 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Recorded Investment, with an allowance recorded | 1,336 | |
Unpaid Principal Balance, with an allowance recorded | 0 | 1,514 |
Related Allowance | 0 | 504 |
Average Recorded Investment, with an allowance recorded | 655 | 1,392 |
Recorded Investment, with no allowance recorded | 143 | 396 |
Unpaid Principal Balance, with no allowance recorded | 152 | 401 |
Average Recorded Investment, with no allowance recorded | 124 | 1,530 |
Recorded Investment | 143 | 1,732 |
Unpaid Principal Balance | 152 | 1,915 |
Average Recorded Investment | 779 | 2,922 |
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 | 368 | 0 |
Unpaid Principal Balance, with an allowance recorded | 368 | 0 |
Related Allowance | 98 | 0 |
Average Recorded Investment, with an allowance recorded | 31 | 0 |
Recorded Investment, with no allowance recorded | 705 | 4,172 |
Unpaid Principal Balance, with no allowance recorded | 729 | 5,588 |
Average Recorded Investment, with no allowance recorded | 3,730 | 4,062 |
Recorded Investment | 1,073 | 4,172 |
Unpaid Principal Balance | 1,097 | 5,588 |
Average Recorded Investment | 3,761 | 4,062 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Recorded Investment, with an allowance recorded | 440 | 305 |
Unpaid Principal Balance, with an allowance recorded | 470 | 313 |
Related Allowance | 252 | 129 |
Average Recorded Investment, with an allowance recorded | 372 | 78 |
Recorded Investment, with no allowance recorded | 2,823 | 3,361 |
Unpaid Principal Balance, with no allowance recorded | 3,276 | 3,898 |
Average Recorded Investment, with no allowance recorded | 3,296 | 1,933 |
Recorded Investment | 3,263 | 3,666 |
Unpaid Principal Balance | 3,746 | 4,211 |
Average Recorded Investment | 3,668 | 2,011 |
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 | 695 | 975 |
Unpaid Principal Balance, with an allowance recorded | 709 | 1,653 |
Related Allowance | 501 | 475 |
Average Recorded Investment, with an allowance recorded | 1,252 | 908 |
Recorded Investment, with no allowance recorded | 6,637 | 1,251 |
Unpaid Principal Balance, with no allowance recorded | 7,826 | 1,255 |
Average Recorded Investment, with no allowance recorded | 3,680 | 3,368 |
Recorded Investment | 7,332 | 2,226 |
Unpaid Principal Balance | 8,535 | 2,908 |
Average Recorded Investment | 4,932 | 4,276 |
Consumer Portfolio Segment [Member] | ||
Recorded Investment, with an allowance recorded | 36 | 0 |
Unpaid Principal Balance, with an allowance recorded | 36 | 0 |
Related Allowance | 36 | 0 |
Average Recorded Investment, with an allowance recorded | 12 | 0 |
Recorded Investment, with no allowance recorded | 162 | 0 |
Unpaid Principal Balance, with no allowance recorded | 162 | 0 |
Average Recorded Investment, with no allowance recorded | 43 | 14 |
Recorded Investment | 198 | |
Unpaid Principal Balance | 198 | 0 |
Average Recorded Investment | $ 55 | $ 14 |
Note 7 - Loans and the Allowa68
Note 7 - Loans and the Allowance for Loan Losses - Fair Value of Loans Acquired With Deteriorated Credit Quality (Details) - American Gateway Financial Corporation [Member] $ in Thousands | Apr. 01, 2015USD ($) |
Purchased Impaired Credits, Contractually required principal and interest | $ 11,294 |
Purchased Impaired Credits, Nonaccretable difference | 6,375 |
Purchased Impaired Credits, Cash flows expected to be collected | 4,919 |
Purchased Impaired Credits, Accretable yield | 0 |
Fair value of purchased impaired credits at acquisition | $ 4,919 |
Note 7 - Loans and the Allowa69
Note 7 - Loans and the Allowance for Loan Losses - Summary of Changes in Carrying Amount of Purchased Impaired Credits (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2016 | ||
Carrying amount, beginning balance | [1] | $ 3,634 | |
Carrying amount, ending balance | [1] | $ 3,634 | 1,776 |
American Gateway Financial Corporation [Member] | |||
Carrying amount, beginning balance | 4,919 | 3,634 | |
Payments received, net of discounts realized | (469) | (1,181) | |
Charge-offs | (204) | (352) | |
Transfer to other real estate | (612) | (325) | |
Carrying amount, ending balance | $ 3,634 | $ 1,776 | |
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 7 - Loans and the Allowa70
Note 7 - Loans and the Allowance for Loan Losses - Summary of Informative Data Regarding Loan Modifications (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Number of Contracts | 9 | 11 |
Pre-Modification Outstanding Recorded Investment | $ 7,750 | $ 8,447 |
Post-Modification Outstanding Recorded Investment | $ 5,931 | $ 5,865 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Number of Contracts | 3 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 870 | $ 1,568 |
Post-Modification Outstanding Recorded Investment | $ 608 | $ 1,008 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Number of Contracts | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 5,143 | |
Post-Modification Outstanding Recorded Investment | $ 3,623 | |
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 6 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 6,880 | $ 1,736 |
Post-Modification Outstanding Recorded Investment | $ 5,323 | $ 1,234 |
Note 8 - Premises and Equipme71
Note 8 - Premises and Equipment - (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Depreciation, Depletion and Amortization, Nonproduction | $ 1,299,000 | $ 1,192,000 | $ 810,000 |
Note 8 - Premises and Equipme72
Note 8 - Premises and Equipment - Bank Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment, Gross | $ 14,980 | $ 13,700 |
Less: Accumulated Depreciation | (5,699) | (4,466) |
Property, Plant and Equipment, Net | 9,281 | 9,234 |
Land [Member] | ||
Property, Plant and Equipment, Gross | 2,098 | 2,126 |
Building and Leasehold Improvements [Member] | ||
Property, Plant and Equipment, Gross | 6,875 | 6,446 |
Furniture and Equipment [Member] | ||
Property, Plant and Equipment, Gross | $ 6,007 | $ 5,128 |
Note 9 - Goodwill and Other I73
Note 9 - Goodwill and Other Intangible Assets - (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill | $ 6,824,000 | $ 3,376,000 |
Amortization of Intangible Assets | $ 276,000 | 207,000 |
American Gateway Financial Corporation [Member] | ||
Goodwill | $ 6,824,000 | |
Business Acquisition, Number of Shares Outstanding | 217,944 | |
American Gateway Financial Corporation [Member] | Maximum [Member] | ||
Goodwill Refinement Period | 1 year | |
American Gateway Financial Corporation [Member] | Unsettled Contracts [Member] | ||
Business Acquisition, Number of Shares Outstanding | 53,094 |
Note 9 - Goodwill and Other I74
Note 9 - Goodwill and Other Intangible Assets - Summary of Core Deposit Intangible Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Gross Carrying Amount | $ 2,762 | $ 2,762 |
Less: Accumulated Amortization | (483) | (207) |
Net Carrying Amount | $ 2,279 | $ 2,555 |
Note 9 - Goodwill and Other I75
Note 9 - Goodwill and Other Intangible Assets - Estimated Aggregate Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
2,017 | $ 276 | |
2,018 | 276 | |
2,019 | 276 | |
2,020 | 276 | |
2,021 | 276 | |
Thereafter | 899 | |
Total Core Deposit Intangible | $ 2,279 | $ 2,555 |
Note 10 - Deposits - (Details T
Note 10 - Deposits - (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Percentage of Certificate of Deposit Maturities Year One | 70.70% | |
Percentage of Certificate of Deposit Maturities Year Two and Thereafter | 29.30% | |
Deposits | $ 932,795 | $ 904,236 |
Interest-bearing Domestic Deposit, Brokered | 102,800 | 74,600 |
Interest Bearing Deposits Public Funds Brokered | 27,200 | 20,800 |
Deposits Public Funds Non-brokered | 113,500 | 146,400 |
Interest and Non-interest Bearing Deposits Liability [Member] | Top three customers [Member] | ||
Deposits | $ 114,200 | $ 126,300 |
Percentage of Interest and Non-interest Bearing Domestic Deposits to Deposits | 12.30% | 14.00% |
Note 10 - Deposits - Summary of
Note 10 - Deposits - Summary of Deposit Accounts (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Noninterest Bearing - DDA | $ 16,950 | $ 44,024 |
Noninterest Bearing - Money Market Account | 206,755 | 178,464 |
Noninterest Bearing Deposits | 223,705 | 222,488 |
Interest Bearing - DDA | 31,457 | 26,928 |
NOW and Super NOW Accounts | 17,051 | 15,405 |
Money Market Accounts | 287,189 | 329,955 |
Savings Accounts | 35,181 | 36,137 |
Certificates of Deposit Over $250,000 | 73,346 | 52,418 |
Other Certificates of Deposit | 264,866 | 220,905 |
Interest Bearing Deposits | 709,090 | 681,748 |
Total Deposits | $ 932,795 | $ 904,236 |
Note 11 - Borrowings - (Details
Note 11 - Borrowings - (Details Textual) | Sep. 12, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($) | Sep. 03, 2015USD ($) |
Advances from Federal Home Loan Banks, Net of Unaccreted Market Value Adjustment | $ 47,700,000 | $ 46,400,000 | ||
Advances from Federal Home Loan Banks | 49,144,000 | 47,064,000 | ||
Pledged Financial Instruments, Not Separately Reported, Loans Receivable, for Federal Home Loan Bank Debt | 321,100,000 | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 193,700,000 | |||
Short-term Debt | 3,000,000 | 862,000 | ||
Long-term Debt | 3,000,000 | |||
Federal Funds Purchased | 0 | 0 | ||
FNBB Advance [Member] | ||||
Debt Instrument, Face Amount | $ 3,000,000 | |||
Debt Instrument, Annual Principal Payment | 300,000 | |||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | $ 303,000 | |||
Long-term Debt | $ 3,000,000 | |||
Debt Instrument, Date of First Required Payment | Sep. 12, 2017 | |||
Debt Instrument, Number of Payments | 9 | |||
Prime Rate [Member] | FNBB Advance [Member] | ||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 3.75% | |||
Federal Funds Purchased [Member] | ||||
Line of Credit Facility, Current Borrowing Capacity | 83,700,000 | $ 109,500,000 | ||
First Tennessee Bank National Association [Member] | ||||
Short-term Debt | $ 3,000,000 | $ 3,000,000 | ||
First Tennessee Bank National Association [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | |||
First Tennessee Bank National Association [Member] | Quarterly [Member] | ||||
Short-term Debt, Percentage Bearing Variable Interest Rate | 2.93% | |||
FNBB Line of Credit [Member] | ||||
Short-term Debt | $ 862,000 | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | |||
Debt Instrument, Term | 1 year | |||
FNBB Line of Credit [Member] | Prime Rate [Member] | ||||
Short-term Debt, Percentage Bearing Variable Interest Rate | 3.75% | |||
American Gateway Financial Corporation [Member] | ||||
Advances, Fair Value Disclosure | $ 41,200,000 | |||
Federal Home Loan Bank, Advances, Valuation Adjustments under Fair Value Option | 2,000,000 | |||
Debt Instrument, Unamortized Discount (Premium), Net | 1,400,000 | $ 670,000 | ||
November 2017 [Member] | ||||
Advances from Federal Home Loan Banks | $ 30,000,000 | $ 30,000,000 | ||
November 2017 [Member] | Minimum [Member] | ||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.92% | 2.92% | ||
November 2017 [Member] | Maximum [Member] | ||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 3.07% | 3.07% | ||
December 2017 [Member] | ||||
Advances from Federal Home Loan Banks | $ 2,700,000 | $ 1,400,000 | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 3.18% | 3.18% | ||
December 2018 [Member] | ||||
Advances from Federal Home Loan Banks | $ 15,000,000 | $ 15,000,000 | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.90% | 1.90% |
Note 12 - Securities Sold Und79
Note 12 - Securities Sold Under Agreements to Repurchase - (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Securities Sold under Agreements to Repurchase | $ 2,720 | $ 2,435 |
Minimum [Member] | ||
Interest Rate on Investment Percentage | 2.00% | |
Maturity Year | 2,027 | |
Maximum [Member] | ||
Interest Rate on Investment Percentage | 3.50% | |
Maturity Year | 2,036 |
Note 13 - Income Taxes - (Detai
Note 13 - Income Taxes - (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | |
Operating Loss Carryforwards | $ 230,000 | ||
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | $ 345,000 | $ 984,000 | |
Operating Loss Carryforwards, Expiration Year | 2,033 | ||
American Gateway Financial Corporation [Member] | |||
Operating Loss Carryforwards | $ 287,000 | ||
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | $ 984,000 |
Note 13 - Income Taxes - Provis
Note 13 - Income Taxes - Provision (Credit) for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Continuing Operations, Provision (Credit) for Current Taxes - Federal | $ 660 | $ 1,599 | $ 2,128 |
Continuing Operations, Provision (Credit) for Deferred Taxes | 953 | (74) | (764) |
Provision for Income Taxes | $ 1,613 | $ 1,525 | $ 1,364 |
Note 13 - Income Taxes - Reconc
Note 13 - Income Taxes - Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Federal Statutory Income Tax at 34% | $ 2,286 | $ 1,911 | $ 1,835 |
Tax Exempt Income | (708) | (559) | (707) |
Other - Net | 35 | 173 | 236 |
Provision for Income Taxes | $ 1,613 | $ 1,525 | $ 1,364 |
Note 13 - Income Taxes - Reco83
Note 13 - Income Taxes - Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Details) (Parentheticals) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Federal Statutory Income Tax, Percentage | 34.00% | 34.00% | 34.00% |
Note 13 - Income Taxes - Compon
Note 13 - Income Taxes - Components of Deferred Tax Assets (Liabilities) (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Allowance for Loan Losses | $ 2,775,000 | $ 2,463,000 |
Acquried Loans Fair Market Value Adjustment | 2,168,000 | 2,631,000 |
Acquired Securities Difference in Basis | (744,000) | (826,000) |
Amortization of Start-Up Costs | 55,000 | 69,000 |
Stock Warrants and Options | 1,217,000 | 1,063,000 |
Depreciation | (799,000) | (804,000) |
Interest on Acquired Nonaccrual Loans | 42,000 | 47,000 |
Unrealized (Gain) Loss on Securities | 1,201,000 | 406,000 |
Other Real Estate | 110,000 | 147,000 |
Core Deposit Intangible | 775,000 | 869,000 |
Acquired FHLB Debt Fair Market Value Adjustment | 228,000 | 476,000 |
Deferred Compensation | 723,000 | 907,000 |
Alternative Minimum Tax Credit | 345,000 | 984,000 |
Net Operating Loss Carryforward | 78,000 | 88,000 |
Net Deferred Tax Asset | $ 6,624,000 | $ 6,782,000 |
Note 14 - Accumulated Other C85
Note 14 - Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance at Beginning of Year | $ (789) | $ (643) | |
Before Reclassifications - Net of Tax | (1,694) | (136) | |
Realized - Net of Tax | 153 | (10) | |
Other Comprehensive Income (Loss) | (1,541) | (146) | $ 2,404 |
Balance at End of Year | $ (2,330) | $ (789) | $ (643) |
Note 15 - Stockholders' Equit86
Note 15 - Stockholders' Equity and Regulatory Matters - (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.05 | $ 0.05 | $ 0.05 | |
Dividends | $ 0 |
Note 15 - Stockholders' Equit87
Note 15 - Stockholders' Equity and Regulatory Matters - Schedule of Bank's Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Total Capital, Amount | $ 117,909 | $ 115,828 |
Total Capital to Risk-Weighted Assets Ratio | 11.89% | 12.17% |
Total Capital Required for Capital Adequacy, Amount | $ 79,324 | $ 76,159 |
Total Capital Required for Capital Adequacy, Ratio | 8.00% | 8.00% |
Total Capital to be Well Capitalized, Amount | $ 99,155 | $ 95,199 |
Total Capital to be Well Capitalized, Ratio | 10.00% | 10.00% |
Tier I Capital, Amount | $ 109,747 | $ 108,584 |
Tier I Capital to Risk-Weighted Assets Ratio | 11.07% | 11.41% |
Tier I Capital Required for Capital Adequacy, Amount | $ 59,493 | $ 57,120 |
Tier I Capital Required for Capital Adequacy, Ratio | 6.00% | 6.00% |
Tier I Capital to be Well Capitalized, Amount | $ 79,324 | $ 76,159 |
Tier I Capital to be Well Capitalized, Ratio | 8.00% | 8.00% |
Common Equity Tier 1 Capital, Amount | $ 109,747 | $ 108,584 |
Common Equity Tier 1 Capital to Risk-Weighted Assets Ratio | 11.07% | 11.41% |
Common Equity Tier 1 Capital Required for Capital Adequacy, Amount | $ 44,620 | $ 42,840 |
Common Equity Tier 1 Capital Required for Capital Adequacy, Ratio | 4.50% | 4.50% |
Common Equity Tier 1 Capital to be Well Capitalized, Amount | $ 64,451 | $ 61,879 |
Common Equity Tier 1 Capital to be Well Capitalized, Ratio | 6.50% | 6.50% |
Tier I Leveraged Capital, Amount | $ 109,747 | |
Tier I Leveraged Capital to Average Assets Ratio | 9.91% | 10.17% |
Tier I Leveraged Capital Required for Capital Adequacy, Amount | $ 44,311 | $ 42,703 |
Tier I Leveraged Capital Capital Required for Capital Adequacy, Ratio | 4.00% | 4.00% |
Tier I Leveraged Capital to be Well Capitalized, Amount | $ 55,389 | $ 53,379 |
Tier I Leveraged Capital to be Well Capitalized, Ratio | 5.00% | 5.00% |
Note 16 - Stock Based Compens88
Note 16 - Stock Based Compensation - (Details Textual) - USD ($) | Dec. 20, 2016 | Feb. 01, 2016 | Dec. 31, 2016 | Dec. 31, 2015 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 10 | $ 10 | $ 10 | |
Class of Warrant or Right, Outstanding | 87,625 | 89,125 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 1.18% | 0.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | 5 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.36% | 1.44% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 31.68% | 29.39% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,500,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 50,000 | 42,800 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 17.65 | $ 17.11 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 562,548 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 13.79 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares | 105,932 | |||
Share-based Compensation Arrangement by Share-based Payment Award Options, Amended, Number of Shares | 330,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Amended, Weighted Average Exercise Price | $ 10 | |||
Class of Warrant or Right, Date from which Warrants or Rights Exercisable | Feb. 1, 2011 | |||
Warrant Expiration Date | Feb. 2, 2019 | |||
Employee Stock Option [Member] | ||||
Allocated Share-based Compensation Expense | $ 168,000 | $ 240,000 | $ 198,000 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 492,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years | |||
Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 10 years | |||
Common Stock [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 101,000 | |||
Warrant [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost | $ 48,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award Warrants Assumed Weighted Average Grant Date Fair Value | $ 2.50 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 1.00% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 6 years 182 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 5.04% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 13.19% |
Note 16 - Stock Based Compens89
Note 16 - Stock Based Compensation - Schedule Weighted-average Assumptions for Each Year in Calculating the Fair Value Of the Options Granted (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Risk-Free Interest Rate | 1.36% | 1.44% |
Expected Dividend Yield | 1.18% | 0.00% |
Expected Volatility | 31.68% | 29.39% |
Expected Life in Years (Year) | 5 years | 5 years |
Weighted Average Calculated Value of Options Granted (in dollars per share) | $ 4.27 | $ 4.87 |
Note 16 - Stock Based Compens90
Note 16 - Stock Based Compensation - Summary Of Stock Option Activity (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding Options, December 31, 2015 (in shares) | 953,280 | |
Outstanding Options, December 31, 2015 (in dollars per share) | $ 12.59 | |
Granted (in shares) | 50,000 | 42,800 |
Granted (in dollars per share) | $ 17.65 | $ 17.11 |
Exercised (in shares) | ||
Exercised (in dollars per share) | ||
Forfeited or Expired (in shares) | (4,800) | |
Forfeited or Expired (in dollars per share) | $ 17.11 | |
Outstanding Options, December 31, 2016 (in shares) | 998,480 | 953,280 |
Outstanding Options, December 31, 2016 (in dollars per share) | $ 12.82 | $ 12.59 |
Note 17 - Employee Benefit Pl91
Note 17 - Employee Benefit Plans - (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | ||
Employee Compensation and Benefits | $ 467,000 | $ 351,000 | $ 274,000 |
Deferred Compensation Arrangement with Individual, Recorded Liability | 2,000,000 | 2,400,000 | |
Deferred Compensation Arrangement with Individual, Reversal of Accrued Liabilities | $ 339,000 | ||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 336,000 | $ 300,000 |
Note 18 - Other Expenses - Sche
Note 18 - Other Expenses - Schedule of Other Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Business Development | $ 1,253 | $ 805 | $ 526 |
Communications | 872 | 469 | 286 |
Ad Valorem Shares Tax | 650 | 669 | 540 |
Data Processing Fees | 1,528 | 1,141 | 699 |
Directors Fees | 337 | 325 | 366 |
Insurance | 301 | 284 | 168 |
Legal and Professional Fees | 1,806 | 1,980 | 1,193 |
Office Supplies and Printing | 455 | 437 | 147 |
Regulatory Assessments | 847 | 880 | 425 |
Taxes and Licenses | 24 | 10 | 21 |
Nonrecurring Merger and Conversion Costs | 8 | 1,149 | |
Other | 2,943 | 2,274 | 1,119 |
Total Other Expenses | $ 11,024 | $ 10,423 | $ 5,490 |
Note 19 - Financial Instrumen93
Note 19 - Financial Instruments With Off-balance-sheet Risk - (Details Textual) $ in Millions | Dec. 31, 2016USD ($) |
Standby and commercial Letters of Credit [Member] | |
Contractual Obligation | $ 12.5 |
Commitments to Extend Credit [Member] | |
Contractual Obligation | $ 196.2 |
Note 20 - Concentrations of C94
Note 20 - Concentrations of Credit - (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Loans and Leases Receivable, Net of Deferred Income | $ 810,951 | $ 772,392 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | $ 298,057 | $ 312,207 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Loan Secured by Real Estate [Member] | Credit Concentration Risk [Member] | ||
Concentration Risk, Percentage | 36.80% | 40.40% |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | $ 94,426 | $ 97,872 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Loan Secured by Real Estate [Member] | Credit Concentration Risk [Member] | ||
Concentration Risk, Percentage | 11.60% | 12.70% |
Note 21 - Commitments - (Detail
Note 21 - Commitments - (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Leases, Rent Expense | $ 1.5 | $ 1.4 | $ 1.2 |
Federal Home Loan Bank Advances [Member] | |||
Letters of Credit Outstanding, Amount | 81 | $ 76 | |
Letter of Credit of $11 million expires in March 2017 [Member] | |||
Letters of Credit Outstanding, Amount | 11 | ||
Letter of Credit of $5.0 million expires in May 2017 [Member] | |||
Letters of Credit Outstanding, Amount | 5 | ||
Letter of Credit of $40 million expires in June 2017 [Member] | |||
Letters of Credit Outstanding, Amount | 40 | ||
Letter of Credit of $25 million expires in June 2017 [Member] | |||
Letters of Credit Outstanding, Amount | $ 25 | ||
Minimum [Member] | |||
Non-cancelable Operating Lease Terms | 4 years | ||
Maximum [Member] | |||
Non-cancelable Operating Lease Terms | 10 years |
Note 21 - Commitments - Future
Note 21 - Commitments - Future Minimum Lease Payments Under Leases (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 1,591 |
2,018 | 1,459 |
2,019 | 1,322 |
2,020 | 961 |
2021 and Thereafter | 5,969 |
Total Future Minimum Lease Payments | $ 11,302 |
Note 21 - Commitments - Funds L
Note 21 - Commitments - Funds Lent to Small Business Borrowers (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Mc Larty Capital Partners SBIC L.P [Member] | |
Total Capital Commitment | $ 2,000 |
Capital Called | 1,670 |
Remaining Unfunded Capital Commitment | 330 |
Bluehenge Capital Secured Debt SBIC L.P [Member] | |
Total Capital Commitment | 1,500 |
Capital Called | 412 |
Remaining Unfunded Capital Commitment | $ 1,088 |
Note 22 - Related Party Trans98
Note 22 - Related Party Transactions - (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans and Leases Receivable, Related Parties | $ 15,139 | $ 22,004 | $ 28,664 |
Related Party Deposit Liabilities | $ 13,700 | $ 10,000 |
Note 22 - Related Party Trans99
Note 22 - Related Party Transactions - Schedule of Activity in Loans to Directors, Officers and Affiliates (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Balance - Beginning of Year | $ 22,004 | $ 28,664 |
New Loans | 6,570 | 5,602 |
Repayments | (13,435) | (12,262) |
Balance - End of Year | $ 15,139 | $ 22,004 |
Note 23 - Fair Value of Fina100
Note 23 - Fair Value of Financial Instruments - (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Liabilities, Fair Value Disclosure, Recurring | $ 0 | $ 0 |
Liabilities, Fair Value Disclosure, Nonrecurring | $ 0 |
Note 23 - Fair Value of Fina101
Note 23 - Fair Value of Financial Instruments - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Securities Available for Sale, at Fair Values | $ 198,342 | $ 210,857 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 198,342 | 210,857 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
US Government Agencies Debt Securities [Member] | ||
Securities Available for Sale, at Fair Values | 7,566 | 13,667 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 7,566 | 13,667 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Corporate Debt Securities [Member] | ||
Securities Available for Sale, at Fair Values | 11,127 | 11,072 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 11,127 | 11,072 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Collateralized Mortgage Backed Securities [Member] | ||
Securities Available for Sale, at Fair Values | 99,372 | 119,070 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 99,372 | 119,070 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities Available for Sale, at Fair Values | 79,636 | 66,441 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 79,636 | 66,441 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Other Debt Obligations [Member] | ||
Securities Available for Sale, at Fair Values | 641 | 607 |
Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities Available for Sale, at Fair Values | ||
Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities Available for Sale, at Fair Values | 641 | 607 |
Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities Available for Sale, at Fair Values |
Note 23 - Fair Value of Fina102
Note 23 - Fair Value of Financial Instruments - Summary of Financial Assets Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets, Fair Value Disclosure, Nonrecurring Basis | $ 14,061 | $ 16,257 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis | 14,061 | 16,257 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis | ||
Impaired Loans [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis | 12,865 | 14,224 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis | 12,865 | 14,224 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis | ||
Repossessed Assets [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis | 1,196 | 2,033 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis | ||
Repossessed Assets [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis | 1,196 | 2,033 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring Basis |
Note 23 - Fair Value of Fina103
Note 23 - Fair Value of Financial Instruments - Estimated Fair Values of Banks' Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Securities | $ 198,342 | $ 210,857 |
Other Equity Securities | 6,120 | 5,350 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Securities | 198,342 | 210,857 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities | ||
Reported Value Measurement [Member] | ||
Cash and Short-Term Investments | 44,729 | 43,407 |
Securities | 198,342 | 210,857 |
Mortgage Loans Held for Sale | 180 | |
Loans - Net | 802,789 | 765,148 |
Cash Value of BOLI | 22,567 | 22,339 |
Other Equity Securities | 6,120 | 5,350 |
Total | 1,074,727 | 1,047,101 |
Deposits | 932,795 | 904,236 |
Borrowings | 53,646 | 54,579 |
Total | 986,441 | 958,815 |
Estimate of Fair Value Measurement [Member] | ||
Cash and Short-Term Investments | 44,729 | 43,407 |
Securities | 198,342 | 210,857 |
Mortgage Loans Held for Sale | 180 | |
Loans - Net | 796,400 | 761,241 |
Cash Value of BOLI | 22,567 | 22,339 |
Other Equity Securities | 6,120 | 5,350 |
Total | 1,068,338 | 1,043,194 |
Deposits | 912,702 | 897,771 |
Borrowings | 53,706 | 54,561 |
Total | 966,408 | 952,332 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and Short-Term Investments | 44,729 | 43,407 |
Securities | ||
Mortgage Loans Held for Sale | ||
Loans - Net | ||
Cash Value of BOLI | ||
Other Equity Securities | ||
Total | 44,729 | 43,407 |
Deposits | ||
Borrowings | ||
Total | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and Short-Term Investments | ||
Securities | 198,342 | 210,857 |
Mortgage Loans Held for Sale | 180 | |
Loans - Net | ||
Cash Value of BOLI | 22,567 | 22,339 |
Other Equity Securities | ||
Total | 221,089 | 233,196 |
Deposits | ||
Borrowings | 53,706 | 54,561 |
Total | 53,706 | 54,561 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and Short-Term Investments | ||
Securities | ||
Mortgage Loans Held for Sale | ||
Loans - Net | 796,400 | 761,241 |
Cash Value of BOLI | ||
Other Equity Securities | 6,120 | 5,350 |
Total | 802,520 | 766,591 |
Deposits | 912,702 | 897,771 |
Borrowings | ||
Total | $ 912,702 | $ 897,771 |
Note 26 - Financial Statemen104
Note 26 - Financial Statements - Parent Company Only - Balance Sheets for Business First Bancshares, Inc. (Parent Company) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Other Assets | $ 8,159 | $ 8,967 | ||
Total Assets | 1,105,841 | 1,076,089 | ||
Short Term Borrowings | 862 | 3,000 | ||
Accrued Interest Payable | 920 | 566 | ||
Long Term Borrowings | 3,000 | |||
Other Liabilities | 4,921 | 4,259 | ||
Total Liabilities | 992,282 | 963,640 | ||
Common Stock | 6,917 | 7,036 | ||
Additional Paid-in Capital | 85,133 | 85,913 | ||
Retained Earnings | 23,839 | 20,289 | ||
Total Stockholders' Equity | 113,559 | 112,449 | $ 78,845 | $ 71,923 |
Total Liabilities and Stockholders' Equity | 1,105,841 | 1,076,089 | ||
Parent Company [Member] | ||||
Cash | 54 | 359 | ||
Investment in Subsidiaries | 116,031 | 113,265 | ||
Other Assets | 2,354 | 1,906 | ||
Total Assets | 118,439 | 115,530 | ||
Short Term Borrowings | 862 | 3,000 | ||
Accrued Interest Payable | 6 | 21 | ||
Long Term Borrowings | 3,000 | |||
Other Liabilities | 1,012 | 60 | ||
Total Liabilities | 4,880 | 3,081 | ||
Common Stock | 6,917 | 7,036 | ||
Additional Paid-in Capital | 85,133 | 85,913 | ||
Retained Earnings | 21,509 | 19,500 | ||
Total Stockholders' Equity | 113,559 | 112,449 | ||
Total Liabilities and Stockholders' Equity | $ 118,439 | $ 115,530 |
Note 26 - Financial Statemen105
Note 26 - Financial Statements - Parent Company Only - Statements of Income for Business First Bancshares, Inc. (Parent Company) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest | $ 43,418 | $ 38,617 | $ 27,475 |
Provision for Income Taxes | 1,613 | 1,525 | 1,364 |
Net Income | 5,111 | 4,096 | 4,033 |
Parent Company [Member] | |||
Interest | 1 | 4 | |
Other Operating Expenses | 1,464 | 1,437 | 1,095 |
Income (Loss) before Income Taxes and Equity in Undistributed Net Income of Subsidiaries | (1,464) | (1,436) | (1,091) |
Provision for Income Taxes | (498) | (474) | (371) |
Income (Loss) before Equity in Undistributed Net Income of Subsidiaries | (966) | (962) | (720) |
Equity in Undistributed Net Income of Subsidiaries | 6,077 | 5,058 | 4,753 |
Net Income | $ 5,111 | $ 4,096 | $ 4,033 |