Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 03, 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) | 10,232,495 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and Due from Banks | $ 36,210 | $ 42,173 |
Federal Funds Sold | 2,971 | 2,556 |
Securities Available for Sale, at Fair Values | 186,149 | 198,342 |
Mortgage Loans Held for Sale | 332 | 180 |
Loans and Lease Receivable, Net of Allowance for Loan Losses of $9,241 at September 30, 2017 and $8,162 at December 31, 2016 | 928,535 | 802,789 |
Premises and Equipment, Net | 8,974 | 9,281 |
Accrued Interest Receivable | 3,518 | 3,384 |
Other Equity Securities | 8,595 | 6,120 |
Other Real Estate Owned | 267 | 1,187 |
Cash Value of Life Insurance | 23,039 | 22,567 |
Goodwill | 6,824 | 6,824 |
Core Deposit Intangible | 2,072 | 2,279 |
Other Assets | 6,345 | 8,159 |
Total Assets | 1,213,831 | 1,105,841 |
LIABILITIES | ||
Noninterest Bearing | 268,520 | 223,705 |
Interest Bearing | 746,574 | 709,090 |
Total Deposits | 1,015,094 | 932,795 |
Securities Sold Under Agreements to Repurchase | 2,926 | 2,720 |
Short Term Borrowings | 862 | 862 |
Long Term Borrowings | 2,700 | 3,000 |
Federal Home Loan Bank Borrowings | 65,474 | 47,064 |
Accrued Interest Payable | 902 | 920 |
Other Liabilities | 5,814 | 4,921 |
Total Liabilities | 1,093,772 | 992,282 |
SHAREHOLDERS' EQUITY | ||
Preferred Stock, No Par Value; 5,000,000 Shares Authorized | ||
Common Stock, $1.00 Par Value; 50,000,000 Shares Authorized; 6,932,570 and 6,916,673 Shares Issued and Outstanding at September 30, 2017 and December 31, 2016, respectively | 6,933 | 6,917 |
Additional Paid-in Capital | 85,136 | 85,133 |
Retained Earnings | 28,380 | 23,839 |
Accumulated Other Comprehensive Loss | (390) | (2,330) |
Total Shareholders' Equity | 120,059 | 113,559 |
Total Liabilities and Shareholders' Equity | $ 1,213,831 | $ 1,105,841 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Allowance for loan losses | $ 9,241 | $ 8,162 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 1,000,000 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 50,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 6,932,570 | 6,916,673 |
Common stock, shares outstanding (in shares) | 6,932,570 | 6,916,673 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest Income: | ||||
Interest and Fees on Loans | $ 11,433 | $ 10,281 | $ 34,972 | $ 29,548 |
Interest and Dividends on Securities | 953 | 955 | 2,872 | 2,858 |
Interest on Federal Funds Sold and Due From Banks | 38 | 43 | 85 | 161 |
Total Interest Income | 12,424 | 11,279 | 37,929 | 32,567 |
Interest Expense: | ||||
Interest on Deposits | 1,665 | 1,376 | 4,514 | 3,800 |
Interest on Borrowings | 226 | 161 | 632 | 493 |
Total Interest Expense | 1,891 | 1,537 | 5,146 | 4,293 |
Net Interest Income | 10,533 | 9,742 | 32,783 | 28,274 |
Provision for Loan Losses | 247 | 100 | 1,907 | 920 |
Net Interest Income after Provision for Loan Losses | 10,286 | 9,642 | 30,876 | 27,354 |
Other Income: | ||||
Service Charges on Deposit Accounts | 542 | 558 | 1,579 | 1,541 |
Gain on Sales of Securities | 31 | 31 | 231 | |
Other Income | 668 | 810 | 2,535 | 2,307 |
Total Other Income | 1,241 | 1,368 | 4,145 | 4,079 |
Other Expenses: | ||||
Salaries and Employee Benefits | 5,559 | 5,045 | 15,940 | 14,768 |
Occupancy and Equipment Expense | 1,139 | 1,272 | 3,498 | 3,396 |
Other Expenses | 2,516 | 2,839 | 7,656 | 8,543 |
Total Other Expenses | 9,214 | 9,156 | 27,094 | 26,707 |
Income Before Income Taxes | 2,313 | 1,854 | 7,927 | 4,726 |
Provision for Income Taxes | 631 | 474 | 2,217 | 1,101 |
Net Income | $ 1,682 | $ 1,380 | $ 5,710 | $ 3,625 |
Earnings Per Share: | ||||
Basic (in dollars per share) | $ 0.24 | $ 0.20 | $ 0.82 | $ 0.52 |
Diluted (in dollars per share) | $ 0.23 | $ 0.19 | $ 0.78 | $ 0.49 |
Unaudited Consolidated Stateme5
Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Consolidated Net Income | $ 1,682 | $ 1,380 | $ 5,710 | $ 3,625 |
Other Comprehensive Income (Loss): | ||||
Unrealized Gain (Loss) on Investment Securities | (166) | 537 | 2,909 | 2,738 |
Reclassification Adjustment for Gains included in Net Income | 31 | 31 | 231 | |
Income Tax Effect | 46 | (183) | (1,000) | (1,010) |
Other Comprehensive Income (Loss) | (89) | 354 | 1,940 | 1,959 |
Consolidated Comprehensive Income | $ 1,593 | $ 1,734 | $ 7,650 | $ 5,584 |
Unaudited Consolidated Stateme6
Unaudited Consolidated Statements of Changes in Shareholders' 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, 2015 | $ 7,036 | $ 85,913 | $ 20,289 | $ (789) | $ 112,449 |
Comprehensive Income: | |||||
Net Income | 3,625 | 3,625 | |||
Other Comprehensive Income | 1,959 | 1,959 | |||
Cash Dividends Declared | (704) | (704) | |||
Stock Based Compensation Cost | 207 | 207 | |||
Reclass of Shares Issued | 5 | (5) | |||
Exercise of Stock Warrants | 1 | 14 | 15 | ||
Balances at at Sep. 30, 2016 | 7,042 | 86,129 | 23,210 | 1,170 | 117,551 |
Balances at at Dec. 31, 2015 | 7,036 | 85,913 | 20,289 | (789) | 112,449 |
Balances at at Dec. 31, 2016 | 6,917 | 85,133 | 23,839 | (2,330) | 113,559 |
Comprehensive Income: | |||||
Net Income | 5,710 | 5,710 | |||
Other Comprehensive Income | 1,940 | 1,940 | |||
Cash Dividends Declared | (1,178) | (1,178) | |||
Stock Based Compensation Cost | 18 | 43 | 61 | ||
Balances at at Sep. 30, 2017 | 6,933 | 85,136 | 28,380 | (390) | 120,059 |
Balances at at Dec. 31, 2016 | 6,917 | 85,133 | 23,839 | $ (2,330) | 113,559 |
Comprehensive Income: | |||||
Stock Repurchase | $ (2) | $ (40) | $ 9 | $ (33) |
Unaudited Consolidated Stateme7
Unaudited Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Retained Earnings [Member] | ||
Cash dividends declared (in dollars per share) | $ 0.17 | $ 0.10 |
Unaudited Consolidated Stateme8
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash Flows From Operating Activities: | ||
Consolidated Net Income | $ 5,710 | $ 3,625 |
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities: | ||
Provision for Loan Losses | 1,907 | 920 |
Depreciation and Amortization | 911 | 956 |
Amortization of Purchase Accounting Valuations | (3,933) | (1,374) |
Noncash Compensation Expense | 61 | 207 |
Net Amortization of Securities | 1,347 | 1,414 |
Gain on Sales of Securities | (31) | (231) |
Noncash (Income) Loss on Other Equity Securities | (224) | 24 |
(Gain) Loss on Sale of Premises and Equipment | (24) | |
(Gain) Loss on Sale of Other Real Estate Owned, Net of Writedowns | 336 | (87) |
Increase in Cash Value of Life Insurance | (472) | (636) |
Provision for Deferred Income Taxes | 997 | 582 |
Changes in Assets and Liabilities: | ||
Increase in Accrued Interest Receivable | (134) | (235) |
(Increase) Decrease in Other Assets | (192) | 450 |
Increase (Decrease) in Accrued Interest Payable | (18) | 314 |
Increase in Other Liabilities | 893 | 779 |
Net Cash Provided by Operating Activities | 7,158 | 6,684 |
Cash Flows From Investing Activities: | ||
Purchases of Securities Available for Sale | (8,104) | (44,871) |
Proceeds from Maturities / Sales of Securities Available for Sale | 6,579 | 30,140 |
Proceeds from Paydowns of Securities Available for Sale | 15,342 | 17,702 |
Purchases of Other Equity Securities | (2,440) | (866) |
Redemption of Other Equity Securities | 189 | 29 |
Life Insurance Proceeds | 560 | |
Net Increase in Loans | (124,501) | (39,373) |
Proceeds from Sale of Premises and Equipment | 68 | |
Purchases of Premises and Equipment | (429) | (1,304) |
Proceeds from Sales of Other Real Estate | 705 | 1,273 |
Improvements to Other Real Estate | (102) | |
Consideration Settlement to Former AGFC Shareholders | (3,448) | |
Net (Increase) Decrease in Federal Funds Sold | (415) | 1,995 |
Net Cash Used in Investing Activities | (113,074) | (38,197) |
Cash Flows From Financing Activities: | ||
Net Increase in Deposits | 82,299 | 25,414 |
Net Increase in Securities Sold Under Agreements to Repurchase | 206 | 625 |
Net Advances (Repayments) on Federal Home Loan Bank Borrowings | 18,959 | (1,008) |
Net Decrease in Short Term Borrowings | (3,000) | |
Net Proceeds (Repayments) from Long Term Borrowings | (300) | 3,000 |
Repurchase of Common Stock | (33) | |
Proceeds from Exercise of Stock Warrants | 15 | |
Payment of Dividends on Common Stock | (1,178) | (704) |
Net Cash Provided by Financing Activities | 99,953 | 24,342 |
Net Decrease in Cash and Cash Equivalents | (5,963) | (7,171) |
Cash and Cash Equivalents at Beginning of Period | 42,173 | 40,911 |
Cash and Cash Equivalents at End of Period | 36,210 | 33,740 |
Supplemental Disclosures for Cash Flow Information: | ||
Interest on Deposits | 4,532 | 3,464 |
Interest on Borrowings | 632 | 515 |
Income Tax Payments | 1,350 | |
Supplemental Schedule for Noncash Investing and Financing Activities: | ||
Change in the Unrealized Gain on Securities Available for Sale | 2,940 | 2,969 |
Change in Deferred Tax Effect on the Unrealized Gain on Securities Available for Sale | (1,000) | (1,010) |
Transfer of Loans to Other Real Estate | 287 | 632 |
Transfer of Other Real Estate to Premises and Equipment | $ 175 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation - | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 – Basis of Presentation – The unaudited consolidated financial statements include the accounts of Business First Bancshares, Inc. (the “Company”) 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. The Bank operates out of nineteen sixteen two one In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the financial results for the periods presented, and all such adjustments are of a normal recurring nature. All material intercompany transactions are eliminated. The results of operations for the interim periods are not These interim consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission and, therefore, certain information and footnote disclosures normally presented in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) have been omitted or abbreviated. Preparation of financial statements in conformity with 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 not may not may not |
Note 2 - Reclassifications -
Note 2 - Reclassifications - | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | Note 2 – Reclassifications – Certain reclassifications may 2017. no |
Note 3 - Mergers and Acquisitio
Note 3 - Mergers and Acquisitions - | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | Note 3 – Mergers and Acquisitions – After the close of business on M arch 31, 2015, ten $10.00 11.88 $47.9 $371.5 $143.2 $108.4 $98.5 $2.8 $6.8 $330.5 $283.3 $41.2 $4.3 |
Note 4 - Earnings Per Common Sh
Note 4 - Earnings Per Common Share - | 9 Months Ended |
Sep. 30, 2017 | |
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 shareholders divided by the weighted average number of common shares outstanding; no may For The Three Months For The Nine Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 1,682 $ 1,380 $ 5,710 $ 3,625 Denominator: Weighted Average Common Shares Outstanding 6,932,570 7,039,098 6,926,684 7,037,842 Dilutive Effect of Stock Options and Warrants 382,782 311,235 382,782 311,235 Weighted Average Dilutive Common Shares 7,315,352 7,350,333 7,309,466 7,349,077 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.24 $ 0.20 $ 0.82 $ 0.52 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.23 $ 0.19 $ 0.78 $ 0.49 |
Note 5 - Securities -
Note 5 - Securities - | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 5 – Securities – The amortized cost and fair values of securities available for sale as of September 30, 2017 December 31, 2016 September 30, 2017 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 9,015 $ 50 $ 34 $ 9,031 Corporate Securities 13,080 56 51 13,085 Mortgage-Backed Securities 86,261 9 1,051 85,219 Municipal Securities 77,563 711 151 78,123 Other Securities 821 - 130 691 Total Securities Available for Sale $ 186,740 $ 826 $ 1,417 $ 186,149 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 The following tables present a summary of securities with gross unrealized losses and fair values at September 30, 2017 December 31, 2016, September 30, 2017 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 $ 2,993 $ 34 $ - $ - $ 2,993 $ 34 Corporate Securities 4,483 50 2,499 1 6,982 51 Mortgage-Backed Securities 71,687 847 10,288 204 81,975 1,051 Municipal Securities 14,320 101 7,014 50 21,334 151 Other Securities - - 691 130 691 130 Total Securities Available for Sale $ 93,483 $ 1,032 $ 20,492 $ 385 $ 113,975 $ 1,417 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 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 The amortized cost and fair values of securities available for sale as of September 30, 2017 may may Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 8,369 $ 8,379 One to Five Years 47,633 47,914 Over Five to Ten Years 66,678 66,403 Over Ten Years 64,060 63,453 Total Securities Available for Sale $ 186,740 $ 186,149 |
Note 6 - Loans and the Allowanc
Note 6 - Loans and the Allowance for Loan Losses - | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 6 – Loans and the Allowance for Loan Losses – Loans receivable at September 30, 2017 December 31 , 2016 September 30, December 31, 2017 2016 (Dollars in thousands) Real estate loans: Construction and land $ 121,377 $ 94,426 Farmland 10,469 9,217 1-4 family residential 145,911 129,052 Multi-family residential 19,750 22,737 Nonfarm nonresidential 331,053 298,057 Commercial 261,478 213,120 Consumer 47,738 44,342 Total loans held for investment 937,776 810,951 Less: Allowance for loan losses (9,241 ) (8,162 ) Net loans $ 928,535 $ 802,789 The performing 1 4 September 30, 2017 December 31, 2016. Net deferred loan origination fees were $1.3 $761,000 September 30, 2017 December 31, 2016, September 30, 2017 December 31, 2016, $187,000 $232,000, The Bank is the lead lender on participations sold, without recourse, to other financial institutions which are not approximately $67.3 $55.5 September 30, 2017 December 31, 2016, The Bank grants loans and extensions of credit to individuals and a variety of businesses and corporations in markets across Louisiana and Texas. 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 not Acquired loans are those associated with our acquisition of AGFC. These loans were recorded at estimated fair value at the acquisition date with no Total loans held for investment at September 30, 2017 includes $51.3 September 30, 2017 310 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality 310 30” $728,000 not 310 30 $52.5 $1.9 Total loans held for investment at December 31, 2016 $65.3 December 31, 2016 carrying amount of $1.8 $65.9 $2.4 The following tables set forth, as of September 30, 2017 December 31, 2016, nts evaluated for impairment collectively and individually. The allowance for loan losses allocated to each portfolio segment is not not Allowance for Credit Losses and Recorded Investment in Loans Receivable September 30, 2017 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning Balance $ 933 $ 75 $ 1,228 $ 172 $ 2,314 $ 3,039 $ 401 $ 8,162 Charge-offs (2 ) - (87 ) - (617 ) (200 ) (33 ) (939 ) Recoveries 1 - 18 - 23 34 35 111 Provision 372 12 381 (13 ) 927 228 - 1,907 Ending Balance $ 1,304 $ 87 $ 1,540 $ 159 $ 2,647 $ 3,101 $ 403 $ 9,241 Ending Balance: Individually evaluated for impairment $ 22 $ - $ 341 $ - $ 110 $ 408 $ - $ 881 Collectively evaluated for impairment $ 1,282 $ 87 $ 1,165 $ 159 $ 2,537 $ 2,693 $ 403 $ 8,326 Purchased Credit Impaired (1) $ - $ - $ 34 $ - $ - $ - $ - $ 34 Loans receivable: Ending Balance $ 121,377 $ 10,469 $ 145,911 $ 19,750 $ 331,053 $ 261,478 $ 47,738 $ 937,776 Ending Balance: Individually evaluated for impairment $ 99 $ - $ 2,837 $ - $ 6,078 $ 7,204 $ 375 $ 16,593 Collectively evaluated for impairment $ 121,265 $ 10,469 $ 142,864 $ 19,750 $ 324,470 $ 254,274 $ 47,363 $ 920,455 Purchased Credit Impaired (1) $ 13 $ - $ 210 $ - $ 505 $ - $ - $ 728 ( 1 December 31, 2016 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning balance $ 600 $ 30 $ 1,021 $ 101 $ 1,416 $ 3,618 $ 458 $ 7,244 Charge-offs (484 ) - (162 ) - (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 Management further disaggregates the loan portfolio segments into classes of loans, which are based on the initial measurement of the loan, risk characteristics of the loan and the method for monitoring and assessing the credit risk of the loan. As of September 30, 2017 December 31, 2016, Credit Quality Indicators September 30, 2017 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 118,911 $ 1,951 $ 403 $ 112 $ 121,377 Farmland 10,469 - - - 10,469 1-4 family residential 136,338 5,387 1,864 2,322 145,911 Multi-family residential 19,709 - 41 - 19,750 Nonfarm nonresidential 318,617 4,831 3,451 4,154 331,053 Commercial 230,769 21,095 3,168 6,446 261,478 Consumer 46,693 646 164 235 47,738 Total $ 881,506 $ 33,910 $ 9,091 $ 13,269 $ 937,776 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 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. ● Substand ard 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. The following tables reflect certain information wit h respect to the loan portfolio delinquencies by loan class and amount as of September 30, 2017 December 31, 2016. 90 Aged Analysis of Past Due Loans Receivable September 30, 2017 (Dollars in thousands) Recorded Investment Over 90 Days Past Due and Still Accruing Greater Than 90 Days Past Due 30-59 Days Past Due 60-89 Days Past Due Total Past Due Total Loans Receivable Current Real Estate Loans: Construction and land $ 398 $ - $ 109 $ 507 $ 120,870 $ 121,377 $ - Farmland - - - - 10,469 10,469 - 1-4 family residential 940 146 869 1,955 143,956 145,911 138 Multi-family residential - - - - 19,750 19,750 - Nonfarm nonresidential 2,283 2,147 1,433 5,863 325,190 331,053 - Commercial 300 169 5,842 6,311 255,167 261,478 56 Consumer 35 122 224 381 47,357 47,738 - Total $ 3,956 $ 2,584 $ 8,477 $ 15,017 $ 922,759 $ 937,776 $ 194 December 31, 2016 (Dollars in thousands) Recorded Investment Over 90 Days Past Due and Still Accruing Greater Than 90 Days Past Due 30-59 Days Past Due 60-89 Days Past Due Total Past Due Total Loans Receivable Current 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 The following is a summary of information pertaining to impaired loans as of September 30, 2017 December 31, 2016. $257,000 $283,000 nine September 30, 2017 2016, September 30, 2017 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 89 $ 89 $ 22 $ 70 Farmland - - - - 1-4 family residential 751 830 340 815 Multi-family residential - - - - Nonfarm nonresidential 679 701 111 509 Other Loans: Commercial 562 587 408 485 Consumer - - - 7 Total $ 2,081 $ 2,207 $ 881 $ 1,886 With no allowance recorded: Real Estate Loans: Construction and land $ 9 $ 16 $ - $ 58 Farmland - - - - 1-4 family residential 2,087 2,444 - 2,222 Multi-family residential - - - - Nonfarm nonresidential 5,400 5,494 - 2,686 Other Loans: Commercial 6,642 7,893 - 5,975 Consumer 374 405 - 176 Total $ 14,512 $ 16,252 $ - $ 11,117 Total Impaired Loans: Real Estate Loans: Construction and land $ 98 $ 105 $ 22 $ 128 Farmland - - - - 1-4 family residential 2,838 3,274 340 3,037 Multi-family residential - - - - Nonfarm nonresidential 6,079 6,195 111 3,195 Other Loans: Commercial 7,204 8,480 408 6,460 Consumer 374 405 - 183 Total $ 16,593 $ 18,459 $ 881 $ 13,003 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 The Company elected to account for certain loans acquired in the AGFC merger as acquired impaired loans under ASC 310 30 no The following table presents the changes in the carrying amount of the purchased impaired credits accounted for under ASC 310 30 Purchased Impaired Credits (Dollars in thousands) 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 Payments received, net of discounts realized (892 ) Purchased impaired credit participation interest sales proceeds, net of discount realized 511 Charge-offs (667 ) Carrying amount - September 30, 2017 $ 728 The Bank seeks to assist customers that are experiencing financial difficulty by renegotiating loans within lending regulations and guidelines. The Bank makes loan modifications, primarily utilizing internal renegotiation programs via direct customer contact, that manage customers ’ debt exposures held only by the Bank. Additionally, the Bank makes loan modifications with customers who have elected to work with external renegotiation agencies and these modifications provide solutions to customers’ entire unsecured debt structures. During the periods ended September 30, 2017 December 31, 2016, 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 September 30, 2017 December 31, 2016. Bank had $3.3 nine September 30, 2017 none December 31, 2016. Modifications as of September 30, 2017: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructuring Real Estate Loans: 1-4 family residential 3 $ 870 $ 582 Other Loans: Commercial 3 5,144 3,922 Total 6 $ 6,014 $ 4,504 Modifications as of December 31, 2016: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructuring Real Estate Loans: 1-4 family residential 3 $ 870 $ 608 Other Loans: Commercial 6 6,880 5,323 Total 9 $ 7,750 $ 5,931 |
Note 7 - Fair Value of Financia
Note 7 - Fair Value of Financial Instruments - | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 7 – Fair Value of Financial Instruments – Fair Value Disclosures The Company groups its financial assets and liabilitie s 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 September 30, 2017 December 31, 2016. not Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2017 Available for Sale: U.S. Government Agency Securities $ 9,031 $ - $ 9,031 $ - Corporate Securities 13,085 - 13,085 - Mortgage-Backed Securities 85,219 - 85,219 - Municipal Securities 78,123 - 78,123 - Other Securities 691 - 691 - Total $ 186,149 $ - $ 186,149 $ - 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 $ - 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 tables 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 Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2017 Assets: Impaired Loans $ 16,406 $ - $ 16,406 $ - Repossessed Assets 267 - 267 - Total $ 16,673 $ - $ 16,673 $ - December 31, 2016 Assets: Impaired Loans $ 12,865 $ - $ 12,865 $ - Repossessed Assets 1,196 - 1,196 - Total $ 14,061 $ - $ 14,061 $ - 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 ’s various financial instruments. In cases where quoted market prices are not may not may not 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 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 The estimated approximate fair values of the Bank ’s financial instruments as of September 30, 2017 December 31, 2016 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2017 Financial Assets: Cash and Short-Term Investments $ 39,181 $ 39,181 $ 39,181 $ - $ - Securities 186,149 186,149 - 186,149 - Mortgage Loans Held for Sale 332 332 - 332 - Loans - Net 928,535 914,658 - - 914,658 Cash Value of BOLI 23,039 23,039 - 23,039 - Other Equity Securities 8,595 8,595 - - 8,595 Total $ 1,185,831 $ 1,171,954 $ 39,181 $ 209,520 $ 923,253 Financial Liabilities: Deposits $ 1,015,094 $ 1,010,560 $ - $ - $ 1,010,560 Borrowings 71,962 72,270 - 72,270 - Total $ 1,087,056 $ 1,082,830 $ - $ 72,270 $ 1,010,560 Carrying Total Amount Fair Value Level 1 Level 2 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 |
Note 8 - Recently Issued Accoun
Note 8 - Recently Issued Accounting Pronouncements - | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 8 – Recently Issued Accounting Pronouncements – In January 2016, ed Accounting Standards Update (“ASU”) No. 2016 16, Financial Instruments - Overall (Subtopic 825 10 may not not No. 2016 16 December 15, 2017, not In February 2016, 2016 02, Leases (Topic 842 December 15, 2018. not In March 2016, 2016 09, Compensation - Stock Compensation (Topic 718 December 15, 2016, not In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326 not may December 31, 2019. first 2016 13 In January 2017, 2017 01, Business Combinations (Topic 805 December 15, 2017, not On January 26, 2 017, 2017 04, Intangibles – Goodwill and Other (Topic 350 2 not one zero zero 2020 January 1, 2017. not In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018. January 1, 2018 not |
Note 9 - Subsequent Events -
Note 9 - Subsequent Events - | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 9 – Subsequent Events – Agreement and Plan of Reorganization with Minden Bancorp, Inc. On October 5, 2017, the Company (“Merger Subsidiary”). The Reorganization Agreement provides for the merger of the Merger Subsidiary with and into MBI, with MBI as the surviving corporation. Immediately following the merger, MBI will be merged with and into the Company, with the Company as the surviving corporation, and then MBL Bank will be immediately merged with and into Business First Bank, with Business First Bank as the surviving bank. Under the terms of the Reorganization Agreement, each of the issued and outstanding shares of MBI common stock will be converted into and represent the right to receive $31.50 ugh a combination of cash from the Company and a special dividend of up to $20.0 $31.50 $76.1 first 2018. At September 30, 2017, $318.2 $192.1 $249.3 $49.2 two Private Placement of Common Stock On October 5, 2017, the Company, pursuant to which the Company agreed to sell in a private placement offering (the “Private Placement”) an aggregate of up to 3,300,000 $20.00 October 12, 2017, 3,299,925 $66.0 $62.5 |
Note 4 - Earnings Per Common 18
Note 4 - Earnings Per Common Share - (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For The Three Months For The Nine Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 1,682 $ 1,380 $ 5,710 $ 3,625 Denominator: Weighted Average Common Shares Outstanding 6,932,570 7,039,098 6,926,684 7,037,842 Dilutive Effect of Stock Options and Warrants 382,782 311,235 382,782 311,235 Weighted Average Dilutive Common Shares 7,315,352 7,350,333 7,309,466 7,349,077 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.24 $ 0.20 $ 0.82 $ 0.52 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.23 $ 0.19 $ 0.78 $ 0.49 |
Note 5 - Securities - (Tables)
Note 5 - Securities - (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2017 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 9,015 $ 50 $ 34 $ 9,031 Corporate Securities 13,080 56 51 13,085 Mortgage-Backed Securities 86,261 9 1,051 85,219 Municipal Securities 77,563 711 151 78,123 Other Securities 821 - 130 691 Total Securities Available for Sale $ 186,740 $ 826 $ 1,417 $ 186,149 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 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | September 30, 2017 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 $ 2,993 $ 34 $ - $ - $ 2,993 $ 34 Corporate Securities 4,483 50 2,499 1 6,982 51 Mortgage-Backed Securities 71,687 847 10,288 204 81,975 1,051 Municipal Securities 14,320 101 7,014 50 21,334 151 Other Securities - - 691 130 691 130 Total Securities Available for Sale $ 93,483 $ 1,032 $ 20,492 $ 385 $ 113,975 $ 1,417 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 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 8,369 $ 8,379 One to Five Years 47,633 47,914 Over Five to Ten Years 66,678 66,403 Over Ten Years 64,060 63,453 Total Securities Available for Sale $ 186,740 $ 186,149 |
Note 6 - Loans and the Allowa20
Note 6 - Loans and the Allowance for Loan Losses - (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2017 2016 (Dollars in thousands) Real estate loans: Construction and land $ 121,377 $ 94,426 Farmland 10,469 9,217 1-4 family residential 145,911 129,052 Multi-family residential 19,750 22,737 Nonfarm nonresidential 331,053 298,057 Commercial 261,478 213,120 Consumer 47,738 44,342 Total loans held for investment 937,776 810,951 Less: Allowance for loan losses (9,241 ) (8,162 ) Net loans $ 928,535 $ 802,789 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | September 30, 2017 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning Balance $ 933 $ 75 $ 1,228 $ 172 $ 2,314 $ 3,039 $ 401 $ 8,162 Charge-offs (2 ) - (87 ) - (617 ) (200 ) (33 ) (939 ) Recoveries 1 - 18 - 23 34 35 111 Provision 372 12 381 (13 ) 927 228 - 1,907 Ending Balance $ 1,304 $ 87 $ 1,540 $ 159 $ 2,647 $ 3,101 $ 403 $ 9,241 Ending Balance: Individually evaluated for impairment $ 22 $ - $ 341 $ - $ 110 $ 408 $ - $ 881 Collectively evaluated for impairment $ 1,282 $ 87 $ 1,165 $ 159 $ 2,537 $ 2,693 $ 403 $ 8,326 Purchased Credit Impaired (1) $ - $ - $ 34 $ - $ - $ - $ - $ 34 Loans receivable: Ending Balance $ 121,377 $ 10,469 $ 145,911 $ 19,750 $ 331,053 $ 261,478 $ 47,738 $ 937,776 Ending Balance: Individually evaluated for impairment $ 99 $ - $ 2,837 $ - $ 6,078 $ 7,204 $ 375 $ 16,593 Collectively evaluated for impairment $ 121,265 $ 10,469 $ 142,864 $ 19,750 $ 324,470 $ 254,274 $ 47,363 $ 920,455 Purchased Credit Impaired (1) $ 13 $ - $ 210 $ - $ 505 $ - $ - $ 728 December 31, 2016 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning balance $ 600 $ 30 $ 1,021 $ 101 $ 1,416 $ 3,618 $ 458 $ 7,244 Charge-offs (484 ) - (162 ) - (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 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2017 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 118,911 $ 1,951 $ 403 $ 112 $ 121,377 Farmland 10,469 - - - 10,469 1-4 family residential 136,338 5,387 1,864 2,322 145,911 Multi-family residential 19,709 - 41 - 19,750 Nonfarm nonresidential 318,617 4,831 3,451 4,154 331,053 Commercial 230,769 21,095 3,168 6,446 261,478 Consumer 46,693 646 164 235 47,738 Total $ 881,506 $ 33,910 $ 9,091 $ 13,269 $ 937,776 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 |
Past Due Financing Receivables [Table Text Block] | September 30, 2017 (Dollars in thousands) Recorded Investment Over 90 Days Past Due and Still Accruing Greater Than 90 Days Past Due 30-59 Days Past Due 60-89 Days Past Due Total Past Due Total Loans Receivable Current Real Estate Loans: Construction and land $ 398 $ - $ 109 $ 507 $ 120,870 $ 121,377 $ - Farmland - - - - 10,469 10,469 - 1-4 family residential 940 146 869 1,955 143,956 145,911 138 Multi-family residential - - - - 19,750 19,750 - Nonfarm nonresidential 2,283 2,147 1,433 5,863 325,190 331,053 - Commercial 300 169 5,842 6,311 255,167 261,478 56 Consumer 35 122 224 381 47,357 47,738 - Total $ 3,956 $ 2,584 $ 8,477 $ 15,017 $ 922,759 $ 937,776 $ 194 December 31, 2016 (Dollars in thousands) Recorded Investment Over 90 Days Past Due and Still Accruing Greater Than 90 Days Past Due 30-59 Days Past Due 60-89 Days Past Due Total Past Due Total Loans Receivable Current 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 |
Impaired Financing Receivables [Table Text Block] | September 30, 2017 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 89 $ 89 $ 22 $ 70 Farmland - - - - 1-4 family residential 751 830 340 815 Multi-family residential - - - - Nonfarm nonresidential 679 701 111 509 Other Loans: Commercial 562 587 408 485 Consumer - - - 7 Total $ 2,081 $ 2,207 $ 881 $ 1,886 With no allowance recorded: Real Estate Loans: Construction and land $ 9 $ 16 $ - $ 58 Farmland - - - - 1-4 family residential 2,087 2,444 - 2,222 Multi-family residential - - - - Nonfarm nonresidential 5,400 5,494 - 2,686 Other Loans: Commercial 6,642 7,893 - 5,975 Consumer 374 405 - 176 Total $ 14,512 $ 16,252 $ - $ 11,117 Total Impaired Loans: Real Estate Loans: Construction and land $ 98 $ 105 $ 22 $ 128 Farmland - - - - 1-4 family residential 2,838 3,274 340 3,037 Multi-family residential - - - - Nonfarm nonresidential 6,079 6,195 111 3,195 Other Loans: Commercial 7,204 8,480 408 6,460 Consumer 374 405 - 183 Total $ 16,593 $ 18,459 $ 881 $ 13,003 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 |
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 - 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 Payments received, net of discounts realized (892 ) Purchased impaired credit participation interest sales proceeds, net of discount realized 511 Charge-offs (667 ) Carrying amount - September 30, 2017 $ 728 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Modifications as of September 30, 2017: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructuring Real Estate Loans: 1-4 family residential 3 $ 870 $ 582 Other Loans: Commercial 3 5,144 3,922 Total 6 $ 6,014 $ 4,504 Modifications as of December 31, 2016: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructuring Real Estate Loans: 1-4 family residential 3 $ 870 $ 608 Other Loans: Commercial 6 6,880 5,323 Total 9 $ 7,750 $ 5,931 |
Note 7 - Fair Value of Financ21
Note 7 - Fair Value of Financial Instruments - (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2017 Available for Sale: U.S. Government Agency Securities $ 9,031 $ - $ 9,031 $ - Corporate Securities 13,085 - 13,085 - Mortgage-Backed Securities 85,219 - 85,219 - Municipal Securities 78,123 - 78,123 - Other Securities 691 - 691 - Total $ 186,149 $ - $ 186,149 $ - 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 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2017 Assets: Impaired Loans $ 16,406 $ - $ 16,406 $ - Repossessed Assets 267 - 267 - Total $ 16,673 $ - $ 16,673 $ - December 31, 2016 Assets: Impaired Loans $ 12,865 $ - $ 12,865 $ - Repossessed Assets 1,196 - 1,196 - Total $ 14,061 $ - $ 14,061 $ - |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2017 Financial Assets: Cash and Short-Term Investments $ 39,181 $ 39,181 $ 39,181 $ - $ - Securities 186,149 186,149 - 186,149 - Mortgage Loans Held for Sale 332 332 - 332 - Loans - Net 928,535 914,658 - - 914,658 Cash Value of BOLI 23,039 23,039 - 23,039 - Other Equity Securities 8,595 8,595 - - 8,595 Total $ 1,185,831 $ 1,171,954 $ 39,181 $ 209,520 $ 923,253 Financial Liabilities: Deposits $ 1,015,094 $ 1,010,560 $ - $ - $ 1,010,560 Borrowings 71,962 72,270 - 72,270 - Total $ 1,087,056 $ 1,082,830 $ - $ 72,270 $ 1,010,560 Carrying Total Amount Fair Value Level 1 Level 2 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 |
Note 1 - Basis of Presentatio22
Note 1 - Basis of Presentation - (Details Textual) | Sep. 30, 2017 |
Number of Locations in Operation | 19 |
Number of Full Service Banking Centers | 16 |
Number of Loan Production Offices | 2 |
Number of Wealth Solution Offices | 1 |
Note 3 - Mergers and Acquisit23
Note 3 - Mergers and Acquisitions - (Details Textual) $ / shares in Units, $ in Thousands | Mar. 31, 2015USD ($)$ / shares | Sep. 30, 2017USD ($) | Dec. 31, 2016USD ($) |
Goodwill | $ 6,824 | $ 6,824 | |
American Gateway Financial Corporation [Member] | |||
Number of Branches | 10 | ||
Business Acquisition, Cash Conversion Ratio Per Share | $ / shares | $ 10 | ||
Business Acquisition, Exchange Ratio | 11.88 | ||
Business Combination, Consideration Transferred | $ 47,900 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 371,500 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 143,200 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 108,400 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 98,500 | ||
Goodwill | 6,800 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 330,500 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 283,300 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Federal Home Loan Bank Borrowings | 41,200 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Securities Sold under Agreements to Repurchase | 4,300 | ||
American Gateway Financial Corporation [Member] | Core Deposits [Member] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,800 |
Note 4 - Earnings Per Common 24
Note 4 - Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net Income Available to Common Shares | $ 1,682 | $ 1,380 | $ 5,710 | $ 3,625 |
Weighted Average Common Shares Outstanding (in shares) | 6,932,570 | 7,039,098 | 6,926,684 | 7,037,842 |
Dilutive Effect of Stock Options and Warrants (in shares) | 382,782 | 311,235 | 382,782 | 311,235 |
Weighted Average Dilutive Common Shares (in shares) | 7,315,352 | 7,350,333 | 7,309,466 | 7,349,077 |
Basic Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.24 | $ 0.20 | $ 0.82 | $ 0.52 |
Diluted Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.23 | $ 0.19 | $ 0.78 | $ 0.49 |
Note 5 - Securities - Securitie
Note 5 - Securities - Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Amortized cost | $ 186,740 | $ 201,873 |
Gross unrealized gains | 826 | 297 |
Gross unrealized losses | 1,417 | 3,828 |
Fair value | 186,149 | 198,342 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 9,015 | 7,580 |
Gross unrealized gains | 50 | 36 |
Gross unrealized losses | 34 | 50 |
Fair value | 9,031 | 7,566 |
Corporate Debt Securities [Member] | ||
Amortized cost | 13,080 | 11,148 |
Gross unrealized gains | 56 | 31 |
Gross unrealized losses | 51 | 52 |
Fair value | 13,085 | 11,127 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized cost | 86,261 | 101,766 |
Gross unrealized gains | 9 | 20 |
Gross unrealized losses | 1,051 | 2,414 |
Fair value | 85,219 | 99,372 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 77,563 | 80,559 |
Gross unrealized gains | 711 | 210 |
Gross unrealized losses | 151 | 1,133 |
Fair value | 78,123 | 79,636 |
Other Debt Obligations [Member] | ||
Amortized cost | 821 | 820 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 130 | 179 |
Fair value | $ 691 | $ 641 |
Note 5 - Securities - Securit26
Note 5 - Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Less than 12 months, fair value | $ 93,483 | $ 147,169 |
Less than 12 months, gross unrealized losses | 1,032 | 3,183 |
12 months or greater, fair value | 20,492 | 15,248 |
12 months or greater, gross unrealized losses | 385 | 645 |
Total, fair value | 113,975 | 162,417 |
Total, gross unrealized losses | 1,417 | 3,828 |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, fair value | 2,993 | 4,535 |
Less than 12 months, gross unrealized losses | 34 | 50 |
12 months or greater, fair value | 0 | |
12 months or greater, gross unrealized losses | 0 | |
Total, fair value | 2,993 | 4,535 |
Total, gross unrealized losses | 34 | 50 |
Corporate Debt Securities [Member] | ||
Less than 12 months, fair value | 4,483 | 2,010 |
Less than 12 months, gross unrealized losses | 50 | 31 |
12 months or greater, fair value | 2,499 | 4,515 |
12 months or greater, gross unrealized losses | 1 | 21 |
Total, fair value | 6,982 | 6,525 |
Total, gross unrealized losses | 51 | 52 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 months, fair value | 71,687 | 86,091 |
Less than 12 months, gross unrealized losses | 847 | 1,974 |
12 months or greater, fair value | 10,288 | 9,885 |
12 months or greater, gross unrealized losses | 204 | 440 |
Total, fair value | 81,975 | 95,976 |
Total, gross unrealized losses | 1,051 | 2,414 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, fair value | 14,320 | 54,533 |
Less than 12 months, gross unrealized losses | 101 | 1,128 |
12 months or greater, fair value | 7,014 | 207 |
12 months or greater, gross unrealized losses | 50 | 5 |
Total, fair value | 21,334 | 54,740 |
Total, gross unrealized losses | 151 | 1,133 |
Other Debt Obligations [Member] | ||
Less than 12 months, fair value | 0 | 0 |
Less than 12 months, gross unrealized losses | 0 | 0 |
12 months or greater, fair value | 691 | 641 |
12 months or greater, gross unrealized losses | 130 | 179 |
Total, fair value | 691 | 641 |
Total, gross unrealized losses | $ 130 | $ 179 |
Note 5 - Securities - Securit27
Note 5 - Securities - Securities Available-for-sale by Contractual Maturity (Details) $ in Thousands | Sep. 30, 2017USD ($) |
Less Than One Year, Amortized Cost | $ 8,369 |
Less Than One Year, Fair Value | 8,379 |
One to Five Years, Amortized Cost | 47,633 |
One to Five Years, Fair Value | 47,914 |
Over Five to Ten Years, Amortized Cost | 66,678 |
Over Five to Ten Years, Fair Value | 66,403 |
Over Ten Years, Amortized Cost | 64,060 |
Over Ten Years, Fair Value | 63,453 |
Amortized Cost | 186,740 |
Fair Value | $ 186,149 |
Note 6 - Loans and the Allowa28
Note 6 - Loans and the Allowance for Loan Losses - (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Loans and Leases Receivable, Deferred Income | $ 1,300,000 | $ 761,000 | |||
Loans and Leases Receivable Reclassified from Overdraft | 187,000 | 232,000 | |||
Loans Receivable, Unpaid Principal Balance | 67,300,000 | 55,500,000 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | [1] | 728,000 | 1,776,000 | ||
Loans and Leases Receivable, Net of Deferred Income | 937,776,000 | 810,951,000 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 257,000 | $ 283,000 | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 3,300,000 | 0 | |||
American Gateway Financial Corporation [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 728,000 | 1,776,000 | $ 3,634,000 | ||
American Gateway Financial Corporation [Member] | Performing Financial Instruments [Member] | |||||
Loans and Leases Receivable, Deferred Income | 1,900,000 | 2,400,000 | |||
Loans Receivable, Fair Value Disclosure | 51,300,000 | 65,300,000 | |||
Loans and Leases Receivable, Net of Deferred Income | $ 52,500,000 | $ 65,900,000 | |||
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 6 - Loans and the Allowa29
Note 6 - Loans and the Allowance for Loan Losses - Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Loans | $ 937,776 | $ 810,951 | |
Allowance for loan losses | (9,241) | (8,162) | $ (7,244) |
Net loans | 928,535 | 802,789 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||
Loans | 121,377 | 94,426 | |
Allowance for loan losses | (1,304) | (933) | (600) |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans | 10,469 | 9,217 | |
Allowance for loan losses | (87) | (75) | (30) |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Loans | 331,053 | 298,057 | |
Allowance for loan losses | (2,647) | (2,314) | (1,416) |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | |||
Loans | 145,911 | 129,052 | |
Allowance for loan losses | (1,540) | (1,228) | (1,021) |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Loans | 19,750 | 22,737 | |
Allowance for loan losses | (159) | (172) | (101) |
Commercial Portfolio Segment [Member] | |||
Loans | 261,478 | 213,120 | |
Allowance for loan losses | (3,101) | (3,039) | (3,618) |
Consumer Portfolio Segment [Member] | |||
Loans | 47,738 | 44,342 | |
Allowance for loan losses | $ (403) | $ (401) | $ (458) |
Note 6 - Loans and the Allowa30
Note 6 - Loans and the Allowance for Loan Losses - Allowance for Credit Losses and Recorded Investment in Loans Receivable (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | ||
Beginning Balance | $ 8,162 | $ 7,244 | $ 7,244 | |||
Charge-offs | (939) | (1,789) | ||||
Recoveries | 111 | 1,487 | ||||
Provision | $ 247 | $ 100 | 1,907 | 920 | 1,220 | |
Ending Balance | 9,241 | 9,241 | 8,162 | |||
Allowance for credit losses, individually evaluated for impairment | 881 | 881 | 887 | |||
Allowance for credit losses, collectively evaluated for impairment | 8,326 | 8,326 | 7,242 | |||
Allowance for credit losses, purchased credit impaired | [1] | 34 | 34 | 33 | ||
Loans receivable | 937,776 | 937,776 | 810,951 | |||
Loans receivable, individually evaluated for impairment | 16,593 | 16,593 | 12,009 | |||
Loans receivable, collectively evaluated for impairment | 920,455 | 920,455 | 797,166 | |||
Loans receivable, purchased credit impaired | [1] | 728 | 728 | 1,776 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||||||
Beginning Balance | 933 | 600 | 600 | |||
Charge-offs | (2) | (484) | ||||
Recoveries | 1 | 10 | ||||
Provision | 372 | 807 | ||||
Ending Balance | 1,304 | 1,304 | 933 | |||
Allowance for credit losses, individually evaluated for impairment | 22 | 22 | 0 | |||
Allowance for credit losses, collectively evaluated for impairment | 1,282 | 1,282 | 933 | |||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||
Loans receivable | 121,377 | 121,377 | 94,426 | |||
Loans receivable, individually evaluated for impairment | 99 | 99 | 143 | |||
Loans receivable, collectively evaluated for impairment | 121,265 | 121,265 | 94,117 | |||
Loans receivable, purchased credit impaired | [1] | 13 | 13 | 166 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||||||
Beginning Balance | 75 | 30 | 30 | |||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provision | 12 | 45 | ||||
Ending Balance | 87 | 87 | 75 | |||
Allowance for credit losses, individually evaluated for impairment | 0 | 0 | 0 | |||
Allowance for credit losses, collectively evaluated for impairment | 87 | 87 | 75 | |||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||
Loans receivable | 10,469 | 10,469 | 9,217 | |||
Loans receivable, individually evaluated for impairment | 0 | 0 | 0 | |||
Loans receivable, collectively evaluated for impairment | 10,469 | 10,469 | 9,217 | |||
Loans receivable, purchased credit impaired | [1] | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||||||
Beginning Balance | 2,314 | 1,416 | 1,416 | |||
Charge-offs | (617) | (473) | ||||
Recoveries | 23 | 1,258 | ||||
Provision | 927 | 113 | ||||
Ending Balance | 2,647 | 2,647 | 2,314 | |||
Allowance for credit losses, individually evaluated for impairment | 110 | 110 | 98 | |||
Allowance for credit losses, collectively evaluated for impairment | 2,537 | 2,537 | 2,216 | |||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||
Loans receivable | 331,053 | 331,053 | 298,057 | |||
Loans receivable, individually evaluated for impairment | 6,078 | 6,078 | 1,073 | |||
Loans receivable, collectively evaluated for impairment | 324,470 | 324,470 | 295,590 | |||
Loans receivable, purchased credit impaired | [1] | 505 | 505 | 1,394 | ||
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||||||
Beginning Balance | 1,228 | 1,021 | 1,021 | |||
Charge-offs | (87) | (162) | ||||
Recoveries | 18 | 140 | ||||
Provision | 381 | 229 | ||||
Ending Balance | 1,540 | 1,540 | 1,228 | |||
Allowance for credit losses, individually evaluated for impairment | 341 | 341 | 252 | |||
Allowance for credit losses, collectively evaluated for impairment | 1,165 | 1,165 | 943 | |||
Allowance for credit losses, purchased credit impaired | [1] | 34 | 34 | 33 | ||
Loans receivable | 145,911 | 145,911 | 129,052 | |||
Loans receivable, individually evaluated for impairment | 2,837 | 2,837 | 3,263 | |||
Loans receivable, collectively evaluated for impairment | 142,864 | 142,864 | 125,573 | |||
Loans receivable, purchased credit impaired | [1] | 210 | 210 | 216 | ||
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||||||
Beginning Balance | 172 | 101 | 101 | |||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provision | (13) | 71 | ||||
Ending Balance | 159 | 159 | 172 | |||
Allowance for credit losses, individually evaluated for impairment | 0 | 0 | 0 | |||
Allowance for credit losses, collectively evaluated for impairment | 159 | 159 | 172 | |||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||
Loans receivable | 19,750 | 19,750 | 22,737 | |||
Loans receivable, individually evaluated for impairment | 0 | 0 | 0 | |||
Loans receivable, collectively evaluated for impairment | 19,750 | 19,750 | 22,737 | |||
Loans receivable, purchased credit impaired | [1] | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | ||||||
Beginning Balance | 3,039 | 3,618 | 3,618 | |||
Charge-offs | (200) | (667) | ||||
Recoveries | 34 | 33 | ||||
Provision | 228 | 55 | ||||
Ending Balance | 3,101 | 3,101 | 3,039 | |||
Allowance for credit losses, individually evaluated for impairment | 408 | 408 | 501 | |||
Allowance for credit losses, collectively evaluated for impairment | 2,693 | 2,693 | 2,538 | |||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||
Loans receivable | 261,478 | 261,478 | 213,120 | |||
Loans receivable, individually evaluated for impairment | 7,204 | 7,204 | 7,332 | |||
Loans receivable, collectively evaluated for impairment | 254,274 | 254,274 | 205,788 | |||
Loans receivable, purchased credit impaired | [1] | 0 | 0 | 0 | ||
Consumer Portfolio Segment [Member] | ||||||
Beginning Balance | 401 | $ 458 | 458 | |||
Charge-offs | (33) | (3) | ||||
Recoveries | 35 | 46 | ||||
Provision | (100) | |||||
Ending Balance | 403 | 403 | 401 | |||
Allowance for credit losses, individually evaluated for impairment | 0 | 0 | 36 | |||
Allowance for credit losses, collectively evaluated for impairment | 403 | 403 | 365 | |||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||
Loans receivable | 47,738 | 47,738 | 44,342 | |||
Loans receivable, individually evaluated for impairment | 375 | 375 | 198 | |||
Loans receivable, collectively evaluated for impairment | 47,363 | 47,363 | 44,144 | |||
Loans receivable, purchased credit impaired | [1] | $ 0 | $ 0 | $ 0 | ||
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 6 - Loans and the Allowa31
Note 6 - Loans and the Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Loans | $ 937,776 | $ 810,951 |
Pass [Member] | ||
Loans | 881,506 | 753,753 |
Special Mention [Member] | ||
Loans | 33,910 | 37,533 |
Substandard [Member] | ||
Loans | 9,091 | 12,539 |
Doubtful [Member] | ||
Loans | 13,269 | 7,126 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Loans | 121,377 | 94,426 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Pass [Member] | ||
Loans | 118,911 | 92,951 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Special Mention [Member] | ||
Loans | 1,951 | 932 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Substandard [Member] | ||
Loans | 403 | 300 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Doubtful [Member] | ||
Loans | 112 | 243 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Loans | 10,469 | 9,217 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | ||
Loans | 10,469 | 9,217 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Substandard [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Loans | 331,053 | 298,057 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Pass [Member] | ||
Loans | 318,617 | 280,398 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Special Mention [Member] | ||
Loans | 4,831 | 14,531 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Substandard [Member] | ||
Loans | 3,451 | 1,927 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Doubtful [Member] | ||
Loans | 4,154 | 1,201 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Loans | 145,911 | 129,052 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Pass [Member] | ||
Loans | 136,338 | 118,891 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Special Mention [Member] | ||
Loans | 5,387 | 4,782 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Substandard [Member] | ||
Loans | 1,864 | 2,658 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Doubtful [Member] | ||
Loans | 2,322 | 2,721 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Loans | 19,750 | 22,737 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Pass [Member] | ||
Loans | 19,709 | 22,685 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Special Mention [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Substandard [Member] | ||
Loans | 41 | 52 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans | 261,478 | 213,120 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 230,769 | 186,197 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 21,095 | 16,783 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 3,168 | 7,377 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 6,446 | 2,763 |
Consumer Portfolio Segment [Member] | ||
Loans | 47,738 | 44,342 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 46,693 | 43,414 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 646 | 505 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 164 | 225 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | $ 235 | $ 198 |
Note 6 - Loans and the Allowa32
Note 6 - Loans and the Allowance for Loan Losses - Past Due Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Past due | $ 15,017 | $ 6,071 |
Current | 922,759 | 804,880 |
Loans | 937,776 | 810,951 |
Recorded investment over 90 days past due and still accruing | 194 | 168 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 3,956 | 2,935 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 2,584 | 1,124 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 8,477 | 2,012 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Past due | 507 | 571 |
Current | 120,870 | 93,855 |
Loans | 121,377 | 94,426 |
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 | 398 | 465 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 109 | 106 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Past due | 0 | 0 |
Current | 10,469 | 9,217 |
Loans | 10,469 | 9,217 |
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 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Past due | 5,863 | 2,075 |
Current | 325,190 | 295,982 |
Loans | 331,053 | 298,057 |
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 | 2,283 | 1,370 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 2,147 | 173 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 1,433 | 532 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Past due | 1,955 | 2,531 |
Current | 143,956 | 126,521 |
Loans | 145,911 | 129,052 |
Recorded investment over 90 days past due and still accruing | 138 | 117 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 940 | 989 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 146 | 579 |
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 | 869 | 963 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Past due | 0 | 0 |
Current | 19,750 | 22,737 |
Loans | 19,750 | 22,737 |
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 | 0 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Past due | 6,311 | 679 |
Current | 255,167 | 212,441 |
Loans | 261,478 | 213,120 |
Recorded investment over 90 days past due and still accruing | 56 | 51 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 300 | 45 |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 169 | 372 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 5,842 | 262 |
Consumer Portfolio Segment [Member] | ||
Past due | 381 | 215 |
Current | 47,357 | 44,127 |
Loans | 47,738 | 44,342 |
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 | 35 | 66 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 122 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | $ 224 | $ 149 |
Note 6 - Loans and the Allowa33
Note 6 - Loans and the Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Recorded investment, with an allowance recorded | $ 2,081 | $ 1,539 |
Unpaid principal balance, with an allowance recorded | 2,207 | 1,583 |
Related allowance | 881 | 887 |
Average recorded investment, with an allowance recorded | 1,886 | 2,322 |
Recorded investment, with no allowance recorded | 14,512 | 10,470 |
Unpaid principal balance, with no allowance recorded | 16,252 | 12,145 |
Average recorded investment, with no allowance recorded | 11,117 | 10,873 |
Recorded investment | 16,593 | 12,009 |
Unpaid principal balance | 18,459 | 13,728 |
Average recorded investment | 13,003 | 13,195 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Recorded investment, with an allowance recorded | 89 | 0 |
Unpaid principal balance, with an allowance recorded | 89 | 0 |
Related allowance | 22 | 0 |
Average recorded investment, with an allowance recorded | 70 | 655 |
Recorded investment, with no allowance recorded | 9 | 143 |
Unpaid principal balance, with no allowance recorded | 16 | 152 |
Average recorded investment, with no allowance recorded | 58 | 124 |
Recorded investment | 98 | 143 |
Unpaid principal balance | 105 | 152 |
Average recorded investment | 128 | 779 |
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 | 679 | 368 |
Unpaid principal balance, with an allowance recorded | 701 | 368 |
Related allowance | 111 | 98 |
Average recorded investment, with an allowance recorded | 509 | 31 |
Recorded investment, with no allowance recorded | 5,400 | 705 |
Unpaid principal balance, with no allowance recorded | 5,494 | 729 |
Average recorded investment, with no allowance recorded | 2,686 | 3,730 |
Recorded investment | 6,079 | 1,073 |
Unpaid principal balance | 6,195 | 1,097 |
Average recorded investment | 3,195 | 3,761 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Recorded investment, with an allowance recorded | 751 | 440 |
Unpaid principal balance, with an allowance recorded | 830 | 470 |
Related allowance | 340 | 252 |
Average recorded investment, with an allowance recorded | 815 | 372 |
Recorded investment, with no allowance recorded | 2,087 | 2,823 |
Unpaid principal balance, with no allowance recorded | 2,444 | 3,276 |
Average recorded investment, with no allowance recorded | 2,222 | 3,296 |
Recorded investment | 2,838 | 3,263 |
Unpaid principal balance | 3,274 | 3,746 |
Average recorded investment | 3,037 | 3,668 |
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 | 562 | 695 |
Unpaid principal balance, with an allowance recorded | 587 | 709 |
Related allowance | 408 | 501 |
Average recorded investment, with an allowance recorded | 485 | 1,252 |
Recorded investment, with no allowance recorded | 6,642 | 6,637 |
Unpaid principal balance, with no allowance recorded | 7,893 | 7,826 |
Average recorded investment, with no allowance recorded | 5,975 | 3,680 |
Recorded investment | 7,204 | 7,332 |
Unpaid principal balance | 8,480 | 8,535 |
Average recorded investment | 6,460 | 4,932 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with an allowance recorded | 0 | 36 |
Unpaid principal balance, with an allowance recorded | 0 | 36 |
Related allowance | 0 | 36 |
Average recorded investment, with an allowance recorded | 7 | 12 |
Recorded investment, with no allowance recorded | 374 | 162 |
Unpaid principal balance, with no allowance recorded | 405 | 162 |
Average recorded investment, with no allowance recorded | 176 | 43 |
Recorded investment | 374 | 198 |
Unpaid principal balance | 405 | 198 |
Average recorded investment | $ 183 | $ 55 |
Note 6 - Loans and the Allowa34
Note 6 - Loans and the Allowance for Loan Losses - Purchased Impaired Credits (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | ||
Carrying amount, beginning balance | [1] | $ 1,776,000 | |
Carrying amount, ending balance | [1] | 728,000 | $ 1,776,000 |
American Gateway Financial Corporation [Member] | |||
Carrying amount, beginning balance | 1,776,000 | 3,634,000 | |
Payments received, net of discounts realized | (892,000) | (1,181,000) | |
Charge-offs | (667,000) | (352,000) | |
Transfer to other real estate | (325,000) | ||
Purchased impaired credit participation interest sales proceeds, net of discount realized | 511,000 | ||
Carrying amount, ending balance | $ 728,000 | $ 1,776,000 | |
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 6 - Loans and the Allowa35
Note 6 - Loans and the Allowance for Loan Losses - Troubled Debt Restructurings (Details) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of contracts | 6 | 9 |
Pre-modification outstanding recorded investment | $ 6,014 | $ 7,750 |
Post-modification outstanding recorded investment | $ 4,504 | $ 5,931 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Number of contracts | 3 | 3 |
Pre-modification outstanding recorded investment | $ 870 | $ 870 |
Post-modification outstanding recorded investment | $ 582 | $ 608 |
Commercial Portfolio Segment [Member] | ||
Number of contracts | 3 | 6 |
Pre-modification outstanding recorded investment | $ 5,144 | $ 6,880 |
Post-modification outstanding recorded investment | $ 3,922 | $ 5,323 |
Note 7 - Fair Value of Financ36
Note 7 - Fair Value of Financial Instruments - (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Liabilities, Fair Value Disclosure, Recurring | $ 0 | $ 0 |
Liabilities, Fair Value Disclosure, Nonrecurring | $ 0 | $ 0 |
Note 7 - Fair Value of Financ37
Note 7 - Fair Value of Financial Instruments - Assets and Liabilities Measured On a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Securities available for sale | $ 186,149 | $ 198,342 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 186,149 | 198,342 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 9,031 | 7,566 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 9,031 | 7,566 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Corporate Debt Securities [Member] | ||
Securities available for sale | 13,085 | 11,127 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 13,085 | 11,127 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale | 85,219 | 99,372 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 85,219 | 99,372 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 78,123 | 79,636 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 78,123 | 79,636 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Other Debt Obligations [Member] | ||
Securities available for sale | 691 | 641 |
Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 691 | 641 |
Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale |
Note 7 - Fair Value of Financ38
Note 7 - Fair Value of Financial Instruments - Assets Measured on a Nonrecurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets measured on a nonrecurring basis | $ 16,673 | $ 14,061 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 16,673 | 14,061 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | ||
Impaired Loans [Member] | ||
Assets measured on a nonrecurring basis | 16,406 | 12,865 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 16,406 | 12,865 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | ||
Repossessed Assets [Member] | ||
Assets measured on a nonrecurring basis | 267 | 1,196 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | ||
Repossessed Assets [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 267 | 1,196 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis |
Note 7 - Fair Value of Financ39
Note 7 - Fair Value of Financial Instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financial Assets: | ||
Securities | $ 186,149 | $ 198,342 |
Other Equity Securities | 8,595 | 6,120 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Securities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Securities | 186,149 | 198,342 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Securities | ||
Reported Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 39,181 | 44,729 |
Securities | 186,149 | 198,342 |
Mortgage Loans Held for Sale | 332 | 180 |
Loans - Net | 928,535 | 802,789 |
Cash Value of BOLI | 23,039 | 22,567 |
Other Equity Securities | 8,595 | 6,120 |
Total | 1,185,831 | 1,074,727 |
Financial Liabilities: | ||
Deposits | 1,015,094 | 932,795 |
Borrowings | 71,962 | 53,646 |
Total | 1,087,056 | 986,441 |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 39,181 | 44,729 |
Securities | 186,149 | 198,342 |
Mortgage Loans Held for Sale | 332 | 180 |
Loans - Net | 914,658 | 796,400 |
Cash Value of BOLI | 23,039 | 22,567 |
Other Equity Securities | 8,595 | 6,120 |
Total | 1,171,954 | 1,068,338 |
Financial Liabilities: | ||
Deposits | 1,010,560 | 912,702 |
Borrowings | 72,270 | 53,706 |
Total | 1,082,830 | 966,408 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 39,181 | 44,729 |
Securities | ||
Mortgage Loans Held for Sale | ||
Loans - Net | ||
Cash Value of BOLI | ||
Other Equity Securities | ||
Total | 39,181 | 44,729 |
Financial Liabilities: | ||
Deposits | ||
Borrowings | ||
Total | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | ||
Securities | 186,149 | 198,342 |
Mortgage Loans Held for Sale | 332 | 180 |
Loans - Net | ||
Cash Value of BOLI | 23,039 | 22,567 |
Other Equity Securities | ||
Total | 209,520 | 221,089 |
Financial Liabilities: | ||
Deposits | ||
Borrowings | 72,270 | 53,706 |
Total | 72,270 | 53,706 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | ||
Securities | ||
Mortgage Loans Held for Sale | ||
Loans - Net | 914,658 | 796,400 |
Cash Value of BOLI | ||
Other Equity Securities | 8,595 | 6,120 |
Total | 923,253 | 802,520 |
Financial Liabilities: | ||
Deposits | 1,010,560 | 912,702 |
Borrowings | ||
Total | $ 1,010,560 | $ 912,702 |
Note 9 - Subsequent Events - (D
Note 9 - Subsequent Events - (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Oct. 12, 2017 | Oct. 05, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | $ 1,213,831 | $ 1,105,841 | ||||
Loans and Leases Receivable, Net of Deferred Income | 937,776 | 810,951 | ||||
Deposits | 1,015,094 | 932,795 | ||||
Stockholders' Equity Attributable to Parent | 120,059 | $ 113,559 | $ 117,551 | $ 112,449 | ||
Minden Bancorp [Member] | ||||||
Assets | 318,200 | |||||
Loans and Leases Receivable, Net of Deferred Income | 192,100 | |||||
Deposits | 249,300 | |||||
Stockholders' Equity Attributable to Parent | $ 49,200 | |||||
Subsequent Event [Member] | Private Placement [Member] | ||||||
Issuance of Stock, Shares Authorized | 3,300,000 | |||||
Sale of Stock, Price Per Share | $ 20 | |||||
Stock Issued During Period, Shares, New Issues | 3,299,925 | |||||
Proceeds from Issuance of Private Placement | $ 66,000 | |||||
Proceeds From Issuance of Private Placement, Net | $ 62,500 | |||||
Subsequent Event [Member] | Minden Bancorp [Member] | ||||||
Business Acquisition, Cash Conversion Ratio Per Share | $ 31.50 | |||||
Business Combination, Consideration Transferred, Dividends | $ 20,000 | |||||
Business Combination, Consideration Transferred | $ 76,100 |