Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 08, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Business First Bancshares, Inc. | |
Entity Central Index Key | 1,624,322 | |
Trading Symbol | bfst | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | true | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 11,533,721 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Ex Transition Period | true |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and Due from Banks | $ 45,941 | $ 107,591 |
Federal Funds Sold | 5,934 | 8,820 |
Securities Available for Sale, at Fair Values | 243,585 | 179,148 |
Mortgage Loans Held for Sale | 280 | 201 |
Loans and Lease Receivable, Net of Allowance for Loan Losses of $10,273 at September 30, 2018 and $8,765 at December 31, 2017 | 1,287,686 | 966,519 |
Premises and Equipment, Net | 10,022 | 8,780 |
Accrued Interest Receivable | 5,188 | 4,110 |
Other Equity Securities | 10,339 | 8,627 |
Other Real Estate Owned | 1,824 | 227 |
Cash Value of Life Insurance | 24,442 | 23,200 |
Deferred Taxes | 4,359 | 3,005 |
Goodwill | 32,427 | 6,824 |
Core Deposit Intangible | 4,103 | 2,003 |
Other Assets | 2,065 | 2,201 |
Total Assets | 1,678,195 | 1,321,256 |
LIABILITIES | ||
Noninterest Bearing | 311,170 | 264,646 |
Interest Bearing | 1,042,901 | 790,887 |
Total Deposits | 1,354,071 | 1,055,533 |
Securities Sold Under Agreements to Repurchase | 14,310 | 1,939 |
Short Term Borrowings | 862 | 862 |
Long Term Borrowings | 2,400 | 2,700 |
Federal Home Loan Bank Borrowings | 85,000 | 75,000 |
Accrued Interest Payable | 1,336 | 890 |
Other Liabilities | 7,255 | 4,397 |
Total Liabilities | 1,465,234 | 1,141,321 |
Commitments and Contingencies (See Note 7) | ||
SHAREHOLDERS' EQUITY | ||
Preferred Stock, No Par Value; 5,000,000 Shares Authorized | ||
Common Stock, $1 Par Value; 50,000,000 Shares Authorized; 11,533,721 and 10,232,495 Shares Issued and Outstanding at September 30, 2018 and December 31, 2017, respectively | 11,534 | 10,232 |
Additional Paid-in Capital | 171,345 | 144,172 |
Retained Earnings | 35,460 | 27,175 |
Accumulated Other Comprehensive Loss | (5,378) | (1,644) |
Total Shareholders' Equity | 212,961 | 179,935 |
Total Liabilities and Shareholders' Equity | $ 1,678,195 | $ 1,321,256 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Allowance for loan losses | $ 10,273 | $ 8,765 |
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 | 50,000,000 |
Common stock, shares issued (in shares) | 11,533,721 | 10,232,495 |
Common stock, shares outstanding (in shares) | 11,533,721 | 10,232,495 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interest Income: | ||||
Interest and Fees on Loans | $ 17,777 | $ 11,433 | $ 50,002 | $ 34,972 |
Interest and Dividends on Securities | 1,386 | 953 | 4,223 | 2,872 |
Interest on Federal Funds Sold and Due From Banks | 162 | 38 | 417 | 85 |
Total Interest Income | 19,325 | 12,424 | 54,642 | 37,929 |
Interest Expense: | ||||
Interest on Deposits | 3,127 | 1,665 | 7,980 | 4,514 |
Interest on Borrowings | 562 | 226 | 1,550 | 632 |
Total Interest Expense | 3,689 | 1,891 | 9,530 | 5,146 |
Net Interest Income | 15,636 | 10,533 | 45,112 | 32,783 |
Provision for Loan Losses | 503 | 247 | 1,451 | 1,907 |
Net Interest Income after Provision for Loan Losses | 15,133 | 10,286 | 43,661 | 30,876 |
Other Income: | ||||
Service Charges on Deposit Accounts | 695 | 542 | 1,941 | 1,579 |
Gain (Loss) on Sales of Securities | 31 | 31 | ||
Other Income | 852 | 668 | 3,347 | 2,535 |
Total Other Income | 1,547 | 1,241 | 5,288 | 4,145 |
Other Expenses: | ||||
Salaries and Employee Benefits | 7,190 | 5,559 | 20,418 | 15,940 |
Occupancy and Equipment Expense | 1,522 | 1,139 | 4,342 | 3,498 |
Other Expenses | 3,158 | 2,516 | 11,079 | 7,656 |
Total Other Expenses | 11,870 | 9,214 | 35,839 | 27,094 |
Income Before Income Taxes | 4,810 | 2,313 | 13,110 | 7,927 |
Provision for Income Taxes | 910 | 631 | 2,464 | 2,217 |
Net Income | $ 3,900 | $ 1,682 | $ 10,646 | $ 5,710 |
Earnings Per Share: | ||||
Basic (in dollars per share) | $ 0.34 | $ 0.24 | $ 0.99 | $ 0.82 |
Diluted (in dollars per share) | $ 0.33 | $ 0.23 | $ 0.95 | $ 0.78 |
Unaudited Consolidated Statem_2
Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Consolidated Net Income | $ 3,900 | $ 1,682 | $ 10,646 | $ 5,710 |
Other Comprehensive Income (Loss): | ||||
Unrealized Gain (Loss) on Investment Securities | (1,010) | (166) | (4,727) | 2,909 |
Reclassification Adjustment for Gains (Loss) included in Net Income | 31 | 31 | ||
Income Tax Effect | 212 | 46 | 993 | (1,000) |
Other Comprehensive Income (Loss) | (798) | (89) | (3,734) | 1,940 |
Consolidated Comprehensive Income (Loss) | $ 3,102 | $ 1,593 | $ 6,912 | $ 7,650 |
Unaudited Consolidated Statem_3
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, 2016 | $ 6,917 | $ 85,133 | $ 23,839 | $ (2,330) | $ 113,559 |
Comprehensive Income: | |||||
Net Income | 5,710 | 5,710 | |||
Other Comprehensive Income (Loss) | 1,940 | 1,940 | |||
Cash Dividends Declared | (1,178) | (1,178) | |||
Stock Based Compensation Cost | 18 | 43 | 61 | ||
Stock Repurchase | (2) | (40) | 9 | (33) | |
Balances at at Dec. 31, 2016 | 6,917 | 85,133 | 23,839 | (2,330) | 113,559 |
Balances at at Sep. 30, 2017 | 6,933 | 85,136 | 28,380 | (390) | 120,059 |
Balances at at Dec. 31, 2017 | 10,232 | 144,172 | 27,175 | (1,644) | 179,935 |
Comprehensive Income: | |||||
Net Income | 10,646 | 10,646 | |||
Other Comprehensive Income (Loss) | (3,734) | (3,734) | |||
Cash Dividends Declared | (2,358) | (2,358) | |||
Stock Based Compensation Cost | 49 | 851 | 900 | ||
Balances at at Dec. 31, 2017 | 10,232 | 144,172 | 27,175 | (1,644) | 179,935 |
Comprehensive Income: | |||||
Stock Issuance | 1,257 | 26,404 | 27,661 | ||
Surrendered Shares of Stock Based Compensation | (4) | (82) | (3) | (89) | |
Balances at at Sep. 30, 2018 | $ 11,534 | $ 171,345 | $ 35,460 | $ (5,378) | $ 212,961 |
Unaudited Consolidated Statem_4
Unaudited Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Retained Earnings [Member] | ||
Cash dividends declared (in dollars per share) | $ 0.22 | $ 0.17 |
Unaudited Consolidated Statem_5
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash Flows From Operating Activities: | ||
Consolidated Net Income | $ 10,646 | $ 5,710 |
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities: | ||
Provision for Loan Losses | 1,451 | 1,907 |
Depreciation and Amortization | 853 | 911 |
Net Accretion of Purchase Accounting Valuations | (600) | (3,933) |
Noncash Compensation (Income) Expense | 811 | 61 |
Net Amortization of Securities | 1,574 | 1,347 |
Gain on Sales of Securities | (31) | |
Noncash Income on Other Equity Securities | (292) | (224) |
Gain on Sale of Other Real Estate Owned, Net of Writedowns | (14) | 336 |
Increase in Cash Value of Life Insurance | (501) | (472) |
Provision (Credit) for Deferred Income Taxes | (405) | 997 |
Changes in Assets and Liabilities: | ||
(Increase) Decrease in Accrued Interest Receivable | 77 | (134) |
(Increase) Decrease in Other Assets | 1,523 | (192) |
Increase (Decrease) in Accrued Interest Payable | 216 | (18) |
Increase in Other Liabilities | 1,230 | 893 |
Net Cash Provided by Operating Activities | 16,569 | 7,158 |
Cash Flows From Investing Activities: | ||
Purchases of Securities Available for Sale | (4,531) | (8,104) |
Proceeds from Maturities / Sales of Securities Available for Sale | 8,843 | 6,579 |
Proceeds from Paydowns of Securities Available for Sale | 24,817 | 15,342 |
Net Cash Paid in Merger | (49,796) | |
Purchases of Other Equity Securities | (1,175) | (2,440) |
Redemption of Other Equity Securities | 312 | 189 |
Net Increase in Loans | (129,308) | (124,501) |
Purchases of Premises and Equipment | (790) | (429) |
Proceeds from Sales of Other Real Estate | 109 | 705 |
Net (Increase) Decrease in Federal Funds Sold | 12,386 | (415) |
Net Cash Used in Investing Activities | (139,133) | (113,074) |
Cash Flows From Financing Activities: | ||
Net Increase in Deposits | 34,587 | 82,299 |
Net Decrease in Securities Sold Under Agreements to Repurchase | (3,676) | 206 |
Net Advances on Federal Home Loan Bank Borrowings | 5,000 | 18,959 |
Net Proceeds (Repayments) from Long Term Borrowings | (300) | (300) |
Proceeds from Issuance of Common Stock | 27,661 | |
Repurchase of Common Stock | (33) | |
Payment of Dividends on Common Stock | (2,358) | (1,178) |
Net Cash Provided by Financing Activities | 60,914 | 99,953 |
Net Increase (Decrease) in Cash and Cash Equivalents | (61,650) | (5,963) |
Cash and Cash Equivalents at Beginning of Period | 107,591 | 42,173 |
Cash and Cash Equivalents at End of Period | 45,941 | 36,210 |
Supplemental Disclosures for Cash Flow Information: | ||
Interest on Deposits | 7,564 | 4,532 |
Interest on Borrowings | 1,520 | 632 |
Income Tax Payments | 2,205 | 1,350 |
Supplemental Schedule for Noncash Investing and Financing Activities: | ||
Change in the Unrealized Gain (Loss) on Securities Available for Sale | (4,727) | 2,940 |
Change in Deferred Tax Effect on the Unrealized (Gain) Loss on Securities Available for Sale | 993 | (1,000) |
Transfer of Loans to Other Real Estate | 319 | 287 |
Transfer of Premises and Equipment to Other Real Estate | $ 1,373 | $ 175 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation - | 9 Months Ended |
Sep. 30, 2018 | |
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 subsidiary, Business First Insurance, LLC. The Bank operates out of branch locations in markets across Louisiana and Texas. As a state bank, it is subject to regulation by the Office of Financial Institutions, State of Louisiana, and the Federal Deposit Insurance Corporation, and undergoes periodic examinations by these agencies. The Company is also regulated by the Federal Reserve and is subject to periodic examinations. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the 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 |
Note 2 - Reclassifications -
Note 2 - Reclassifications - | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | Note 2 Certain reclassifications may 2018. no |
Note 3 - Mergers and Acquisitio
Note 3 - Mergers and Acquisitions - | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | N ote 3 – Mergers and Acquisitions – On January 1, 2018, $56.2 $23.20 December 31, 2017, $317.1 $192.7 $264.0 $30.2 two Cost and Allocation of Purchase Price for Minden Bancorp, Inc. (MBI): (Dollars in thousands, except per share data) Purchase Price: MBI Shares Outstanding at December 31, 2017 2,407,627 MBI Restricted Stock Awards Outstanding at December 31, 2017 1,480 MBI Shares Cashed Out Under Terms of Merger 2,409,107 Exchange Ratio 23.20 Cash Paid to Shareholders for Shares of Common Stock $ 55,891 MBI Stock Options Outstanding at December 31, 2017 17,822 Shares at $31.50 Less Strike Price Cash Paid on MBI Options 296 Total Purchase Price $ 56,187 Net Assets Acquired: Cash and Cash Equivalents $ 15,891 Securities Available for Sale 99,867 Loans and Leases Receivable 192,714 Premises and Equipment, Net 2,678 Cash Value of Life Insurance 741 Core Deposit Intangible 2,494 Other Assets 3,055 Total Assets 317,440 Deposits 263,951 Borrowings 21,047 Other Liabilities 1,858 Total Liablilites 286,856 Net Assets Acquired 30,584 Goodwill Resulting from Merger $ 25,603 The following unaudited supplemental pro forma information is presented to reflect estimated results assuming MBI was acquired as of January 1, 2017. not January 1, 2017 not For The Three Months Ended September 30, For The Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) (Dollars in thousands) (except per share data) (except per share data) Interest Income $ 19,325 $ 16,062 $ 54,642 $ 48,620 Interest Expense 3,689 2,259 9,530 6,246 Net Interest Income 15,636 13,803 45,112 42,374 Provision for Loan Losses 503 314 1,451 2,005 Net Interest Income after Provision for Loan Losses 15,133 13,489 43,661 40,369 Noninterest Income 1,547 1,140 5,288 4,439 Noninterest Expense 11,870 10,375 35,839 30,631 Income Before Income Taxes 4,810 4,254 13,110 14,177 Income Tax Expense 910 1,207 2,464 4,070 Net Income $ 3,900 $ 3,047 $ 10,646 $ 10,107 Earnings Per Common Share Basic $ 0.34 $ 0.30 $ 0.99 $ 0.99 Diluted $ 0.33 $ 0.29 $ 0.95 $ 0.95 On June 1, 2018, June 4, 2018 1,207,500 $24.00 $29.0 $1.7 not |
Note 4 - Earnings Per Common Sh
Note 4 - Earnings Per Common Share - | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 4 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 Ended September 30, For The Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands, except per share data) (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 3,900 $ 1,682 $ 10,646 $ 5,710 Denominator: Weighted Average Common Shares Outstanding 11,533,374 6,932,570 10,795,989 6,926,684 Dilutive Effect of Stock Options and Warrants 460,360 382,782 460,360 382,782 Weighted Average Dilutive Common Shares 11,993,734 7,315,352 11,256,349 7,309,466 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.34 $ 0.24 $ 0.99 $ 0.82 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.33 $ 0.23 $ 0.95 $ 0.78 |
Note 5 - Securities -
Note 5 - Securities - | 9 Months Ended |
Sep. 30, 2018 | |
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, 2018 December 31, 2017 September 30, 2018 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 11,675 $ - $ 323 $ 11,352 Corporate Securities 13,057 62 230 12,889 Mortgage-Backed Securities 135,218 2 4,919 130,301 Municipal Securities 89,651 78 1,406 88,323 Other Securities 791 - 71 720 Total Securities Available for Sale $ 250,392 $ 142 $ 6,949 $ 243,585 December 31, 2017 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 9,008 $ 13 $ 68 $ 8,953 Corporate Securities 13,074 59 92 13,041 Mortgage-Backed Securities 81,763 2 1,824 79,941 Municipal Securities 76,553 353 427 76,479 Other Securities 831 - 97 734 Total Securities Available for Sale $ 181,229 $ 427 $ 2,508 $ 179,148 The following tables present a summary of securities with gross unrealized losses and fair values at September 30, 2018 December 31, 2017, September 30, 2018 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 $ 9,515 $ 253 $ 1,837 $ 70 $ 11,352 $ 323 Corporate Securities 2,020 2 2,273 228 4,293 230 Mortgage-Backed Securities 66,459 1,968 63,492 2,951 129,951 4,919 Municipal Securities 56,312 961 13,167 445 69,479 1,406 Other Securities - - 720 71 720 71 Total Securities Available for Sale $ 134,306 $ 3,184 $ 81,489 $ 3,765 $ 215,795 $ 6,949 December 31, 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 $ 4,136 $ 56 $ 2,004 $ 12 $ 6,140 $ 68 Corporate Securities 4,448 69 2,007 23 6,455 92 Mortgage-Backed Securities 8,320 71 71,182 1,753 79,502 1,824 Municipal Securities 25,798 168 11,927 259 37,725 427 Other Securities - - 734 97 734 97 Total Securities Available for Sale $ 42,702 $ 364 $ 87,854 $ 2,144 $ 130,556 $ 2,508 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, 2018 may may Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 12,084 $ 12,055 One to Five Years 49,530 49,081 Over Five to Ten Years 118,010 114,140 Over Ten Years 70,768 68,309 Total Securities Available for Sale $ 250,392 $ 243,585 |
Note 6 - Loans and the Allowanc
Note 6 - Loans and the Allowance for Loan Losses - | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 6 – Loans and the Allowance for Loan Losses – Loans receivable at September 30, 2018 December 31, 2017 September 30, December 31, 2018 2017 (Dollars in thousands) Real estate loans: Construction and land $ 196,404 $ 143,535 Farmland 26,882 10,480 1-4 family residential 234,690 157,505 Multi-family residential 22,109 20,717 Nonfarm nonresidential 432,306 337,699 Commercial 317,889 254,427 Consumer 67,679 50,921 Total loans held for investment 1,297,959 975,284 Less: Allowance for loan losses (10,273 ) (8,765 ) Net loans $ 1,287,686 $ 966,519 The performing 1 4 September 30, 2018 December 31, 2017. Net deferred loan origination fees were $1.4 $1.3 September 30, 2018 December 31, 2017, September 30, 2018 December 31, 2017, $159,000 $129,000, The Bank is the lead lender on participations sold, without recourse, to other financial institutions which are not $129.2 $82.4 September 30, 2018 December 31, 2017, 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 Loans acquired in business combinations were recorded at estimated fair value at the acquisition date with no Total loans held for investment at September 30, 2018 $163.3 September 30, 2018 310 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality 310 30” $5.4 not 310 30 $160.6 $2.7 Total loans held for investment at December 31, 2017 $46.1 December 31, 2017 $696,000 $47.2 $1.8 The following tables set forth, as of September 30, 2018 December 31, 2017, not not Allowance for Credit Losses and Recorded Investment in Loans Receivable September 30, 2018 (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 $ 1,421 $ 76 $ 1,284 $ 144 $ 2,323 $ 3,147 $ 370 $ 8,765 Charge-offs (90 ) - (290 ) - - - (73 ) (453 ) Recoveries 398 - 11 - 13 25 63 510 Provision (95 ) 26 528 1 236 668 87 1,451 Ending Balance $ 1,634 $ 102 $ 1,533 $ 145 $ 2,572 $ 3,840 $ 447 $ 10,273 Ending Balance: Individually evaluated for impairment $ - $ - $ 105 $ - $ 54 $ 214 $ - $ 373 Collectively evaluated for impairment $ 1,634 $ 102 $ 1,428 $ 145 $ 2,518 $ 3,626 $ 447 $ 9,900 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 196,404 $ 26,882 $ 234,690 $ 22,109 $ 432,306 $ 317,889 $ 67,679 $ 1,297,959 Ending Balance: Individually evaluated for impairment $ 7 $ - $ 2,895 $ - $ 4,123 $ 5,377 $ 103 $ 12,505 Collectively evaluated for impairment $ 196,397 $ 26,882 $ 231,628 $ 22,109 $ 422,980 $ 312,512 $ 67,576 $ 1,280,084 Purchased Credit Impaired (1) $ - $ - $ 167 $ - $ 5,203 $ - $ - $ 5,370 ( 1 December 31, 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 ) - (184 ) - (617 ) (2,945 ) (36 ) (3,784 ) Recoveries 1 - 48 - 23 40 38 150 Provision 489 1 192 (28 ) 603 3,013 (33 ) 4,237 Ending Balance $ 1,421 $ 76 $ 1,284 $ 144 $ 2,323 $ 3,147 $ 370 $ 8,765 Ending Balance: Individually evaluated for impairment $ 36 $ - $ 125 $ - $ 46 $ 329 $ - $ 536 Collectively evaluated for impairment $ 1,385 $ 76 $ 1,125 $ 144 $ 2,277 $ 2,818 $ 370 $ 8,195 Purchased Credit Impaired (1) $ - $ - $ 34 $ - $ - $ - $ - $ 34 Loans receivable: Ending Balance $ 143,535 $ 10,480 $ 157,505 $ 20,717 $ 337,699 $ 254,427 $ 50,921 $ 975,284 Ending Balance: Individually evaluated for impairment $ 92 $ - $ 2,817 $ - $ 5,831 $ 4,268 $ 441 $ 13,449 Collectively evaluated for impairment $ 143,443 $ 10,480 $ 154,480 $ 20,717 $ 331,380 $ 250,159 $ 50,480 $ 961,139 Purchased Credit Impaired (1) $ - $ - $ 208 $ - $ 488 $ - $ - $ 696 ( 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, 2018 December 31, 2017, Credit Quality Indicators September 30, 2018 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 193,894 $ 1,208 $ 1,295 $ 7 $ 196,404 Farmland 26,880 2 - - 26,882 1-4 family residential 225,196 4,616 2,384 2,494 234,690 Multi-family residential 22,072 - 37 - 22,109 Nonfarm nonresidential 414,530 5,786 5,926 6,064 432,306 Commercial 303,204 3,960 8,052 2,673 317,889 Consumer 66,639 852 85 103 67,679 Total $ 1,252,415 $ 16,424 $ 17,779 $ 11,341 $ 1,297,959 December 31, 2017 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 141,128 $ 1,953 $ 362 $ 92 $ 143,535 Farmland 10,480 - - - 10,480 1-4 family residential 148,845 4,657 1,574 2,429 157,505 Multi-family residential 20,677 - 40 - 20,717 Nonfarm nonresidential 325,216 4,861 1,687 5,935 337,699 Commercial 228,157 20,681 1,951 3,638 254,427 Consumer 49,787 672 21 441 50,921 Total $ 924,290 $ 32,824 $ 5,635 $ 12,535 $ 975,284 The above classifications follow regulatory guidelines and can generally be described as follows: ● Pass loans are of satisfactory quality. ● Special mention loans have an existing weakness that could cause future impairment, including the deterioration of financial ratios, past due status, questionable management capabilities and possible reduction in the collateral values. ● Substandard loans have an existing specific and well defined weakness that may may ● Doubtful loans have specific weaknesses that are severe enough to make collection or liquidation in full highly questionable and improbable. The following tables reflect certain information with respect to the loan portfolio delinquencies by loan class and amount as of September 30, 2018 December 31, 2017. 90 Aged Analysis of Past Due Loans Receivable September 30, 2018 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Receivable Recorded Investment Over 90 Days Past Due and Still Accruing Real Estate Loans: Construction and land $ 42 $ 20 $ 29 $ 91 $ 196,313 $ 196,404 $ 27 Farmland - - - - 26,882 26,882 - 1-4 family residential 1,251 356 1,175 2,782 231,908 234,690 122 Multi-family residential - - - - 22,109 22,109 - Nonfarm nonresidential 251 - 3,514 3,765 428,541 432,306 - Commercial 507 297 2,290 3,094 314,795 317,889 78 Consumer 119 71 107 297 67,382 67,679 29 Total $ 2,170 $ 744 $ 7,115 $ 10,029 $ 1,287,930 $ 1,297,959 $ 256 December 31, 2017 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Receivable Recorded Investment Over 90 Days Past Due and Still Accruing Real Estate Loans: Construction and land $ - $ - $ 91 $ 91 $ 143,444 $ 143,535 $ - Farmland - - - - 10,480 10,480 - 1-4 family residential 470 319 939 1,728 155,777 157,505 73 Multi-family residential - - - - 20,717 20,717 - Nonfarm nonresidential 2,344 103 3,329 5,776 331,923 337,699 - Commercial - - 3,274 3,274 251,153 254,427 59 Consumer 6 - 367 373 50,548 50,921 - Total $ 2,820 $ 422 $ 8,000 $ 11,242 $ 964,042 $ 975,284 $ 132 The following is a summary of information pertaining to impaired loans as of September 30, 2018 December 31, 2017. $186,000 $257,000 nine September 30, 2018 2017, September 30, 2018 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ - $ - $ - $ 30 Farmland - - - - 1-4 family residential 372 452 105 289 Multi-family residential - - - - Nonfarm nonresidential 463 509 54 339 Other Loans: Commercial 378 427 214 428 Consumer - - - - Total $ 1,213 $ 1,388 $ 373 $ 1,086 With no allowance recorded: Real Estate Loans: Construction and land $ 7 $ 35 $ - $ 12 Farmland - - - - 1-4 family residential 2,523 3,018 - 2,728 Multi-family residential - - - - Nonfarm nonresidential 3,660 3,728 - 5,764 Other Loans: Commercial 4,999 6,857 - 5,689 Consumer 103 145 - 312 Total $ 11,292 $ 13,783 $ - $ 14,505 Total Impaired Loans: Real Estate Loans: Construction and land $ 7 $ 35 $ - $ 42 Farmland - - - - 1-4 family residential 2,895 3,470 105 3,017 Multi-family residential - - - - Nonfarm nonresidential 4,123 4,237 54 6,103 Other Loans: Commercial 5,377 7,284 214 6,117 Consumer 103 145 - 312 Total $ 12,505 $ 15,171 $ 373 $ 15,591 December 31, 2017 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 90 $ 90 $ 36 $ 74 Farmland - - - - 1-4 family residential 491 540 125 787 Multi-family residential - - - - Nonfarm nonresidential 316 341 46 462 Other Loans: Commercial 539 572 329 502 Consumer - - - 5 Total $ 1,436 $ 1,543 $ 536 $ 1,830 With no allowance recorded: Real Estate Loans: Construction and land $ 3 $ 9 $ - $ 44 Farmland - - - - 1-4 family residential 2,325 2,744 - 2,188 Multi-family residential - - - - Nonfarm nonresidential 5,515 5,653 - 3,402 Other Loans: Commercial 3,729 5,581 - 5,898 Consumer 441 472 - 243 Total $ 12,013 $ 14,459 $ - $ 11,775 Total Impaired Loans: Real Estate Loans: Construction and land $ 93 $ 99 $ 36 $ 118 Farmland - - - - 1-4 family residential 2,816 3,284 125 2,975 Multi-family residential - - - - Nonfarm nonresidential 5,831 5,994 46 3,864 Other Loans: Commercial 4,268 6,153 329 6,400 Consumer 441 472 - 248 Total $ 13,449 $ 16,002 $ 536 $ 13,605 The Company elected to account for certain loans acquired in business combinations 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, 2016 $ 1,776 Payments received, net of discounts realized (924 ) Purchased impaired credit participation interest sales proceeds, net of discount realized 511 Charge-offs (667 ) Carrying amount - December 31, 2017 696 Carrying amount of purchased impaired credits acquired in MBI acquisition 4,814 Payments received, net of discounts realized (140 ) Carrying amount - September 30, 2018 $ 5,370 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, 2018 December 31, 2017, 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, 2018 December 31, 2017. $3.3 December 31, 2017 $79,000 nine September 30, 2018. Modifications as of September 30, 2018: 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 1 $ 524 $ 401 Nonfarm nonresidential 3 2,412 2,370 Other Loans: Commercial 7 5,924 3,602 Total 11 $ 8,860 $ 6,373 Modifications as of December 31, 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 2 $ 703 $ 455 Other Loans: Commercial 4 4,498 2,605 Total 6 $ 5,201 $ 3,060 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies - | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note 7 Commitments and Contingencies – In the normal course of business, the Bank is a party to financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby and commercial letters of credit which are not The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby and commercial letters of credit is represented by the contractual amount of those instruments. The Bank’s policy for obtaining collateral, and the nature of such collateral, is essentially the same as that involved in making commitments to extend credit. The Bank uses the same credit policies in making such commitments and conditional obligations as it does for instruments that are included in the balance sheet. In the normal course of business, the Bank has made commitments to extend credit of approximately $274.0 $11.3 September 30, 2018. The Bank leases certain branch offices through non-cancelable operating leases with terms that range from one ten $1.8 $1.3 nine September 30, 2018 2017, Future minimum lease payments under these leases are as follows: (Dollars in thousands) October 1, 2018 through September 30, 2019 $ 2,571 October 1, 2019 through September 30, 2020 1,506 October 1, 2020 through September 30, 2021 1,257 October 1, 2021 through September 30, 2022 1,068 October 1, 2022 and Thereafter 5,500 Total Future Minimum Lease Payments $ 11,902 In the normal course of business, the Company is involved in various legal proceedings. In the opinion of management and counsel, the disposition or ultimate resolution of such proceedings would not |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments - | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | N ote 8 – Fair Value of Financial Instruments – Fair Value Disclosures The Company groups its financial assets and liabilities measured at fair value in three three ● Level 1 ● Level 2 ● Level 3 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, 2018 December 31, 2017. $335,000 $293,000 3 nine September 30, 2018. not Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2018 Available for Sale: U.S. Government Agency Securities $ 11,352 $ - $ 11,352 $ - Corporate Securities 12,889 - 12,889 - Mortgage-Backed Securities 130,301 - 130,301 - Municipal Securities 88,323 - 80,289 8,034 Other Securities 720 - 720 - Total $ 243,585 $ - $ 235,551 $ 8,034 December 31, 2017 Available for Sale: U.S. Government Agency Securities $ 8,953 $ - $ 8,953 $ - Corporate Securities 13,041 - 13,041 - Mortgage-Backed Securities 79,941 - 79,941 - Municipal Securities 76,479 - 67,817 8,662 Other Securities 734 - 734 - Total $ 179,148 $ - $ 170,486 $ 8,662 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, 2018 Assets: Impaired Loans $ 17,503 $ - $ 17,503 $ - Repossessed Assets 1,834 - 1,834 - Total $ 19,337 $ - $ 19,337 $ - December 31, 2017 Assets: Impaired Loans $ 13,576 $ - $ 13,576 $ - Repossessed Assets 227 - 227 - Total $ 13,803 $ - $ 13,803 $ - 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 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, 2018 December 31, 2017 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2018 Financial Assets: Cash and Short-Term Investments $ 51,875 $ 51,875 $ 51,875 $ - $ - Securities 243,585 243,585 - 235,551 8,034 Mortgage Loans Held for Sale 280 280 - 280 - Loans - Net 1,287,686 1,271,359 - - 1,271,359 Cash Value of BOLI 24,442 24,442 - 24,442 - Other Equity Securities 10,339 10,339 - - 10,339 Total $ 1,618,207 $ 1,601,880 $ 51,875 $ 260,273 $ 1,289,732 Financial Liabilities: Deposits $ 1,354,071 $ 1,344,936 $ - $ - $ 1,344,936 Borrowings 102,572 106,876 - 106,876 - Total $ 1,456,643 $ 1,451,812 $ - $ 106,876 $ 1,344,936 Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2017 Financial Assets: Cash and Short-Term Investments $ 116,411 $ 116,411 $ 116,411 $ - $ - Securities 179,148 179,148 - 170,486 8,662 Mortgage Loans Held for Sale 201 201 - 201 - Loans - Net 966,519 952,113 - - 952,113 Cash Value of BOLI 23,200 23,200 - 23,200 - Other Equity Securities 8,627 8,627 - - 8,627 Total $ 1,294,106 $ 1,279,700 $ 116,411 $ 193,887 $ 969,402 Financial Liabilities: Deposits $ 1,055,533 $ 1,046,096 $ - $ - $ 1,046,096 Borrowings 80,501 81,059 - 81,059 - Total $ 1,136,034 $ 1,127,155 $ - $ 81,059 $ 1,046,096 |
Note 9 - Recently Issued Accoun
Note 9 - Recently Issued Accounting Pronouncements - | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | N ote 9 – Recently Issued Accounting Pronouncements – In January 2016, No. 2016 01, Financial Instruments - Overall (Subtopic 825 10 may not not No. 2016 16 December 15, 2017, not September 30, 2018. In February 2016, 2016 02, Leases (Topic 842 December 15, 2018. not In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326 not may December 31, 2019. first 2016 13 may In January 2017, 2017 01, Business Combinations (Topic 805 December 15, 2017, not On January 26, 2017, 2017 04, Intangibles – Goodwill and Other (Topic 350 2 not one zero zero 2020 January 1, 2017. not 2, not In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 not January 1, 2018. not |
Note 3 - Mergers and Acquisit_2
Note 3 - Mergers and Acquisitions - (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cost and Allocation of Purchase Price for Minden Bancorp, Inc. (MBI): (Dollars in thousands, except per share data) Purchase Price: MBI Shares Outstanding at December 31, 2017 2,407,627 MBI Restricted Stock Awards Outstanding at December 31, 2017 1,480 MBI Shares Cashed Out Under Terms of Merger 2,409,107 Exchange Ratio 23.20 Cash Paid to Shareholders for Shares of Common Stock $ 55,891 MBI Stock Options Outstanding at December 31, 2017 17,822 Shares at $31.50 Less Strike Price Cash Paid on MBI Options 296 Total Purchase Price $ 56,187 Net Assets Acquired: Cash and Cash Equivalents $ 15,891 Securities Available for Sale 99,867 Loans and Leases Receivable 192,714 Premises and Equipment, Net 2,678 Cash Value of Life Insurance 741 Core Deposit Intangible 2,494 Other Assets 3,055 Total Assets 317,440 Deposits 263,951 Borrowings 21,047 Other Liabilities 1,858 Total Liablilites 286,856 Net Assets Acquired 30,584 Goodwill Resulting from Merger $ 25,603 |
Business Acquisition, Pro Forma Information [Table Text Block] | For The Three Months Ended September 30, For The Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) (Dollars in thousands) (except per share data) (except per share data) Interest Income $ 19,325 $ 16,062 $ 54,642 $ 48,620 Interest Expense 3,689 2,259 9,530 6,246 Net Interest Income 15,636 13,803 45,112 42,374 Provision for Loan Losses 503 314 1,451 2,005 Net Interest Income after Provision for Loan Losses 15,133 13,489 43,661 40,369 Noninterest Income 1,547 1,140 5,288 4,439 Noninterest Expense 11,870 10,375 35,839 30,631 Income Before Income Taxes 4,810 4,254 13,110 14,177 Income Tax Expense 910 1,207 2,464 4,070 Net Income $ 3,900 $ 3,047 $ 10,646 $ 10,107 Earnings Per Common Share Basic $ 0.34 $ 0.30 $ 0.99 $ 0.99 Diluted $ 0.33 $ 0.29 $ 0.95 $ 0.95 |
Note 4 - Earnings Per Common _2
Note 4 - Earnings Per Common Share - (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For The Three Months Ended September 30, For The Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands, except per share data) (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 3,900 $ 1,682 $ 10,646 $ 5,710 Denominator: Weighted Average Common Shares Outstanding 11,533,374 6,932,570 10,795,989 6,926,684 Dilutive Effect of Stock Options and Warrants 460,360 382,782 460,360 382,782 Weighted Average Dilutive Common Shares 11,993,734 7,315,352 11,256,349 7,309,466 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.34 $ 0.24 $ 0.99 $ 0.82 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.33 $ 0.23 $ 0.95 $ 0.78 |
Note 5 - Securities - (Tables)
Note 5 - Securities - (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2018 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 11,675 $ - $ 323 $ 11,352 Corporate Securities 13,057 62 230 12,889 Mortgage-Backed Securities 135,218 2 4,919 130,301 Municipal Securities 89,651 78 1,406 88,323 Other Securities 791 - 71 720 Total Securities Available for Sale $ 250,392 $ 142 $ 6,949 $ 243,585 December 31, 2017 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 9,008 $ 13 $ 68 $ 8,953 Corporate Securities 13,074 59 92 13,041 Mortgage-Backed Securities 81,763 2 1,824 79,941 Municipal Securities 76,553 353 427 76,479 Other Securities 831 - 97 734 Total Securities Available for Sale $ 181,229 $ 427 $ 2,508 $ 179,148 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | September 30, 2018 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 $ 9,515 $ 253 $ 1,837 $ 70 $ 11,352 $ 323 Corporate Securities 2,020 2 2,273 228 4,293 230 Mortgage-Backed Securities 66,459 1,968 63,492 2,951 129,951 4,919 Municipal Securities 56,312 961 13,167 445 69,479 1,406 Other Securities - - 720 71 720 71 Total Securities Available for Sale $ 134,306 $ 3,184 $ 81,489 $ 3,765 $ 215,795 $ 6,949 December 31, 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 $ 4,136 $ 56 $ 2,004 $ 12 $ 6,140 $ 68 Corporate Securities 4,448 69 2,007 23 6,455 92 Mortgage-Backed Securities 8,320 71 71,182 1,753 79,502 1,824 Municipal Securities 25,798 168 11,927 259 37,725 427 Other Securities - - 734 97 734 97 Total Securities Available for Sale $ 42,702 $ 364 $ 87,854 $ 2,144 $ 130,556 $ 2,508 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 12,084 $ 12,055 One to Five Years 49,530 49,081 Over Five to Ten Years 118,010 114,140 Over Ten Years 70,768 68,309 Total Securities Available for Sale $ 250,392 $ 243,585 |
Note 6 - Loans and the Allowa_2
Note 6 - Loans and the Allowance for Loan Losses - (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2018 2017 (Dollars in thousands) Real estate loans: Construction and land $ 196,404 $ 143,535 Farmland 26,882 10,480 1-4 family residential 234,690 157,505 Multi-family residential 22,109 20,717 Nonfarm nonresidential 432,306 337,699 Commercial 317,889 254,427 Consumer 67,679 50,921 Total loans held for investment 1,297,959 975,284 Less: Allowance for loan losses (10,273 ) (8,765 ) Net loans $ 1,287,686 $ 966,519 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | September 30, 2018 (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 $ 1,421 $ 76 $ 1,284 $ 144 $ 2,323 $ 3,147 $ 370 $ 8,765 Charge-offs (90 ) - (290 ) - - - (73 ) (453 ) Recoveries 398 - 11 - 13 25 63 510 Provision (95 ) 26 528 1 236 668 87 1,451 Ending Balance $ 1,634 $ 102 $ 1,533 $ 145 $ 2,572 $ 3,840 $ 447 $ 10,273 Ending Balance: Individually evaluated for impairment $ - $ - $ 105 $ - $ 54 $ 214 $ - $ 373 Collectively evaluated for impairment $ 1,634 $ 102 $ 1,428 $ 145 $ 2,518 $ 3,626 $ 447 $ 9,900 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 196,404 $ 26,882 $ 234,690 $ 22,109 $ 432,306 $ 317,889 $ 67,679 $ 1,297,959 Ending Balance: Individually evaluated for impairment $ 7 $ - $ 2,895 $ - $ 4,123 $ 5,377 $ 103 $ 12,505 Collectively evaluated for impairment $ 196,397 $ 26,882 $ 231,628 $ 22,109 $ 422,980 $ 312,512 $ 67,576 $ 1,280,084 Purchased Credit Impaired (1) $ - $ - $ 167 $ - $ 5,203 $ - $ - $ 5,370 December 31, 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 ) - (184 ) - (617 ) (2,945 ) (36 ) (3,784 ) Recoveries 1 - 48 - 23 40 38 150 Provision 489 1 192 (28 ) 603 3,013 (33 ) 4,237 Ending Balance $ 1,421 $ 76 $ 1,284 $ 144 $ 2,323 $ 3,147 $ 370 $ 8,765 Ending Balance: Individually evaluated for impairment $ 36 $ - $ 125 $ - $ 46 $ 329 $ - $ 536 Collectively evaluated for impairment $ 1,385 $ 76 $ 1,125 $ 144 $ 2,277 $ 2,818 $ 370 $ 8,195 Purchased Credit Impaired (1) $ - $ - $ 34 $ - $ - $ - $ - $ 34 Loans receivable: Ending Balance $ 143,535 $ 10,480 $ 157,505 $ 20,717 $ 337,699 $ 254,427 $ 50,921 $ 975,284 Ending Balance: Individually evaluated for impairment $ 92 $ - $ 2,817 $ - $ 5,831 $ 4,268 $ 441 $ 13,449 Collectively evaluated for impairment $ 143,443 $ 10,480 $ 154,480 $ 20,717 $ 331,380 $ 250,159 $ 50,480 $ 961,139 Purchased Credit Impaired (1) $ - $ - $ 208 $ - $ 488 $ - $ - $ 696 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2018 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 193,894 $ 1,208 $ 1,295 $ 7 $ 196,404 Farmland 26,880 2 - - 26,882 1-4 family residential 225,196 4,616 2,384 2,494 234,690 Multi-family residential 22,072 - 37 - 22,109 Nonfarm nonresidential 414,530 5,786 5,926 6,064 432,306 Commercial 303,204 3,960 8,052 2,673 317,889 Consumer 66,639 852 85 103 67,679 Total $ 1,252,415 $ 16,424 $ 17,779 $ 11,341 $ 1,297,959 December 31, 2017 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 141,128 $ 1,953 $ 362 $ 92 $ 143,535 Farmland 10,480 - - - 10,480 1-4 family residential 148,845 4,657 1,574 2,429 157,505 Multi-family residential 20,677 - 40 - 20,717 Nonfarm nonresidential 325,216 4,861 1,687 5,935 337,699 Commercial 228,157 20,681 1,951 3,638 254,427 Consumer 49,787 672 21 441 50,921 Total $ 924,290 $ 32,824 $ 5,635 $ 12,535 $ 975,284 |
Past Due Financing Receivables [Table Text Block] | September 30, 2018 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Receivable Recorded Investment Over 90 Days Past Due and Still Accruing Real Estate Loans: Construction and land $ 42 $ 20 $ 29 $ 91 $ 196,313 $ 196,404 $ 27 Farmland - - - - 26,882 26,882 - 1-4 family residential 1,251 356 1,175 2,782 231,908 234,690 122 Multi-family residential - - - - 22,109 22,109 - Nonfarm nonresidential 251 - 3,514 3,765 428,541 432,306 - Commercial 507 297 2,290 3,094 314,795 317,889 78 Consumer 119 71 107 297 67,382 67,679 29 Total $ 2,170 $ 744 $ 7,115 $ 10,029 $ 1,287,930 $ 1,297,959 $ 256 December 31, 2017 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Receivable Recorded Investment Over 90 Days Past Due and Still Accruing Real Estate Loans: Construction and land $ - $ - $ 91 $ 91 $ 143,444 $ 143,535 $ - Farmland - - - - 10,480 10,480 - 1-4 family residential 470 319 939 1,728 155,777 157,505 73 Multi-family residential - - - - 20,717 20,717 - Nonfarm nonresidential 2,344 103 3,329 5,776 331,923 337,699 - Commercial - - 3,274 3,274 251,153 254,427 59 Consumer 6 - 367 373 50,548 50,921 - Total $ 2,820 $ 422 $ 8,000 $ 11,242 $ 964,042 $ 975,284 $ 132 |
Impaired Financing Receivables [Table Text Block] | September 30, 2018 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ - $ - $ - $ 30 Farmland - - - - 1-4 family residential 372 452 105 289 Multi-family residential - - - - Nonfarm nonresidential 463 509 54 339 Other Loans: Commercial 378 427 214 428 Consumer - - - - Total $ 1,213 $ 1,388 $ 373 $ 1,086 With no allowance recorded: Real Estate Loans: Construction and land $ 7 $ 35 $ - $ 12 Farmland - - - - 1-4 family residential 2,523 3,018 - 2,728 Multi-family residential - - - - Nonfarm nonresidential 3,660 3,728 - 5,764 Other Loans: Commercial 4,999 6,857 - 5,689 Consumer 103 145 - 312 Total $ 11,292 $ 13,783 $ - $ 14,505 Total Impaired Loans: Real Estate Loans: Construction and land $ 7 $ 35 $ - $ 42 Farmland - - - - 1-4 family residential 2,895 3,470 105 3,017 Multi-family residential - - - - Nonfarm nonresidential 4,123 4,237 54 6,103 Other Loans: Commercial 5,377 7,284 214 6,117 Consumer 103 145 - 312 Total $ 12,505 $ 15,171 $ 373 $ 15,591 December 31, 2017 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 90 $ 90 $ 36 $ 74 Farmland - - - - 1-4 family residential 491 540 125 787 Multi-family residential - - - - Nonfarm nonresidential 316 341 46 462 Other Loans: Commercial 539 572 329 502 Consumer - - - 5 Total $ 1,436 $ 1,543 $ 536 $ 1,830 With no allowance recorded: Real Estate Loans: Construction and land $ 3 $ 9 $ - $ 44 Farmland - - - - 1-4 family residential 2,325 2,744 - 2,188 Multi-family residential - - - - Nonfarm nonresidential 5,515 5,653 - 3,402 Other Loans: Commercial 3,729 5,581 - 5,898 Consumer 441 472 - 243 Total $ 12,013 $ 14,459 $ - $ 11,775 Total Impaired Loans: Real Estate Loans: Construction and land $ 93 $ 99 $ 36 $ 118 Farmland - - - - 1-4 family residential 2,816 3,284 125 2,975 Multi-family residential - - - - Nonfarm nonresidential 5,831 5,994 46 3,864 Other Loans: Commercial 4,268 6,153 329 6,400 Consumer 441 472 - 248 Total $ 13,449 $ 16,002 $ 536 $ 13,605 |
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, 2016 $ 1,776 Payments received, net of discounts realized (924 ) Purchased impaired credit participation interest sales proceeds, net of discount realized 511 Charge-offs (667 ) Carrying amount - December 31, 2017 696 Carrying amount of purchased impaired credits acquired in MBI acquisition 4,814 Payments received, net of discounts realized (140 ) Carrying amount - September 30, 2018 $ 5,370 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Modifications as of September 30, 2018: 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 1 $ 524 $ 401 Nonfarm nonresidential 3 2,412 2,370 Other Loans: Commercial 7 5,924 3,602 Total 11 $ 8,860 $ 6,373 Modifications as of December 31, 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 2 $ 703 $ 455 Other Loans: Commercial 4 4,498 2,605 Total 6 $ 5,201 $ 3,060 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies - (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | (Dollars in thousands) October 1, 2018 through September 30, 2019 $ 2,571 October 1, 2019 through September 30, 2020 1,506 October 1, 2020 through September 30, 2021 1,257 October 1, 2021 through September 30, 2022 1,068 October 1, 2022 and Thereafter 5,500 Total Future Minimum Lease Payments $ 11,902 |
Note 8 - Fair Value of Financ_2
Note 8 - Fair Value of Financial Instruments - (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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, 2018 Available for Sale: U.S. Government Agency Securities $ 11,352 $ - $ 11,352 $ - Corporate Securities 12,889 - 12,889 - Mortgage-Backed Securities 130,301 - 130,301 - Municipal Securities 88,323 - 80,289 8,034 Other Securities 720 - 720 - Total $ 243,585 $ - $ 235,551 $ 8,034 December 31, 2017 Available for Sale: U.S. Government Agency Securities $ 8,953 $ - $ 8,953 $ - Corporate Securities 13,041 - 13,041 - Mortgage-Backed Securities 79,941 - 79,941 - Municipal Securities 76,479 - 67,817 8,662 Other Securities 734 - 734 - Total $ 179,148 $ - $ 170,486 $ 8,662 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2018 Assets: Impaired Loans $ 17,503 $ - $ 17,503 $ - Repossessed Assets 1,834 - 1,834 - Total $ 19,337 $ - $ 19,337 $ - December 31, 2017 Assets: Impaired Loans $ 13,576 $ - $ 13,576 $ - Repossessed Assets 227 - 227 - Total $ 13,803 $ - $ 13,803 $ - |
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, 2018 Financial Assets: Cash and Short-Term Investments $ 51,875 $ 51,875 $ 51,875 $ - $ - Securities 243,585 243,585 - 235,551 8,034 Mortgage Loans Held for Sale 280 280 - 280 - Loans - Net 1,287,686 1,271,359 - - 1,271,359 Cash Value of BOLI 24,442 24,442 - 24,442 - Other Equity Securities 10,339 10,339 - - 10,339 Total $ 1,618,207 $ 1,601,880 $ 51,875 $ 260,273 $ 1,289,732 Financial Liabilities: Deposits $ 1,354,071 $ 1,344,936 $ - $ - $ 1,344,936 Borrowings 102,572 106,876 - 106,876 - Total $ 1,456,643 $ 1,451,812 $ - $ 106,876 $ 1,344,936 Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2017 Financial Assets: Cash and Short-Term Investments $ 116,411 $ 116,411 $ 116,411 $ - $ - Securities 179,148 179,148 - 170,486 8,662 Mortgage Loans Held for Sale 201 201 - 201 - Loans - Net 966,519 952,113 - - 952,113 Cash Value of BOLI 23,200 23,200 - 23,200 - Other Equity Securities 8,627 8,627 - - 8,627 Total $ 1,294,106 $ 1,279,700 $ 116,411 $ 193,887 $ 969,402 Financial Liabilities: Deposits $ 1,055,533 $ 1,046,096 $ - $ - $ 1,046,096 Borrowings 80,501 81,059 - 81,059 - Total $ 1,136,034 $ 1,127,155 $ - $ 81,059 $ 1,046,096 |
Note 3 - Mergers and Acquisit_3
Note 3 - Mergers and Acquisitions - (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jun. 04, 2018 | Jan. 01, 2018 | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 |
Assets, Total | $ 1,678,195 | $ 1,321,256 | ||||
Loans and Leases Receivable, Net of Deferred Income, Total | 1,297,959 | 975,284 | ||||
Deposits, Total | 1,354,071 | 1,055,533 | ||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ 212,961 | 179,935 | $ 120,059 | $ 113,559 | ||
Minden Bancorp [Member] | ||||||
Assets, Total | 317,100 | |||||
Loans and Leases Receivable, Net of Deferred Income, Total | 192,700 | |||||
Deposits, Total | 264,000 | |||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ 30,200 | |||||
Minden Bancorp [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 56,187 | |||||
Business Acquisition, Price Paid Per Share of Common Stock of Acquired Entity | $ 23.20 | |||||
RSBI [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,207,500 | |||||
Business Acquisition, Share Price | $ 24 | |||||
Business Combination, Consideration Transferred, Total | $ 29,000 | |||||
Business Combination, Underwriting Discount and Commission | $ 1,700 |
Note 3 - Mergers and Acquisit_4
Note 3 - Mergers and Acquisitions - Cost and Allocation of Purchase Price (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 01, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Net Assets Acquired: | |||
Goodwill Resulting from Merger | $ 32,427 | $ 6,824 | |
Minden Bancorp [Member] | |||
Purchase Price: | |||
MBI Shares Cashed Out Under Terms of Merger | $ 2,409,107 | ||
Exchange Ratio (in dollars per share) | $ 23.20 | ||
Cash Paid to Shareholders for Shares of Common Stock | $ 55,891 | ||
Cash Paid on MBI Options | 296 | ||
Total Purchase Price | 56,187 | ||
Net Assets Acquired: | |||
Cash and Cash Equivalents | 15,891 | ||
Securities Available for Sale | 99,867 | ||
Loans and Leases Receivable | 192,714 | ||
Premises and Equipment, Net | 2,678 | ||
Cash Value of Life Insurance | 741 | ||
Core Deposit Intangible | 2,494 | ||
Other Assets | 3,055 | ||
Total Assets | 317,440 | ||
Deposits | 263,951 | ||
Borrowings | 21,047 | ||
Other Liabilities | 1,858 | ||
Total Liablilites | 286,856 | ||
Net Assets Acquired | 30,584 | ||
Goodwill Resulting from Merger | $ 25,603 | ||
Minden Bancorp [Member] | |||
Purchase Price: | |||
MBI Shares Outstanding at December 31, 2017 (in shares) | 2,407,627 | ||
MBI Restricted Stock Awards Outstanding at December 31, 2017 (in shares) | 1,480 |
Note 3 - Mergers and Acquisit_5
Note 3 - Mergers and Acquisitions - Cost and Allocation of Purchase Price (Details) (Parentheticals) - Minden Bancorp [Member] | Dec. 31, 2017$ / sharesshares |
MBI Stock Options Outstanding (in shares) | shares | 17,822 |
MBI Stock Options Strike Price (in dollars per share) | $ / shares | $ 31.50 |
Note 3 - Mergers and Acquisit_6
Note 3 - Mergers and Acquisitions - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Interest Income | $ 19,325 | $ 12,424 | $ 54,642 | $ 37,929 | |
Interest Expense | 3,689 | 1,891 | 9,530 | 5,146 | |
Net Interest Income | 15,636 | 10,533 | 45,112 | 32,783 | |
Provision for Loan Losses | 503 | 247 | 1,451 | 1,907 | $ 4,237 |
Net Interest Income after Provision for Loan Losses | 15,133 | 10,286 | 43,661 | 30,876 | |
Noninterest Income | 1,547 | 1,241 | 5,288 | 4,145 | |
Noninterest Expense | 11,870 | 9,214 | 35,839 | 27,094 | |
Income Before Income Taxes | 4,810 | 2,313 | 13,110 | 7,927 | |
Provision for Income Taxes | 910 | 631 | 2,464 | 2,217 | |
Net Income | $ 3,900 | $ 1,682 | $ 10,646 | $ 5,710 | |
Basic (in dollars per share) | $ 0.34 | $ 0.24 | $ 0.99 | $ 0.82 | |
Diluted (in dollars per share) | $ 0.33 | $ 0.23 | $ 0.95 | $ 0.78 | |
Minden Bancorp [Member] | Pro Forma [Member] | |||||
Interest Income | $ 19,325 | $ 16,062 | $ 54,642 | $ 48,620 | |
Interest Expense | 3,689 | 2,259 | 9,530 | 6,246 | |
Net Interest Income | 15,636 | 13,803 | 45,112 | 42,374 | |
Provision for Loan Losses | 503 | 314 | 1,451 | 2,005 | |
Net Interest Income after Provision for Loan Losses | 15,133 | 13,489 | 43,661 | 40,369 | |
Noninterest Income | 1,547 | 1,140 | 5,288 | 4,439 | |
Noninterest Expense | 11,870 | 10,375 | 35,839 | 30,631 | |
Income Before Income Taxes | 4,810 | 4,254 | 13,110 | 14,177 | |
Provision for Income Taxes | 910 | 1,207 | 2,464 | 4,070 | |
Net Income | $ 3,900 | $ 3,047 | $ 10,646 | $ 10,107 | |
Basic (in dollars per share) | $ 0.34 | $ 0.30 | $ 0.99 | $ 0.99 | |
Diluted (in dollars per share) | $ 0.33 | $ 0.29 | $ 0.95 | $ 0.95 |
Note 4 - Earnings Per Common _3
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, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net Income Available to Common Shares | $ 3,900 | $ 1,682 | $ 10,646 | $ 5,710 |
Weighted Average Common Shares Outstanding (in shares) | 11,533,374 | 6,932,570 | 10,795,989 | 6,926,684 |
Dilutive Effect of Stock Options and Warrants (in shares) | 460,360 | 382,782 | 460,360 | 382,782 |
Weighted Average Dilutive Common Shares (in shares) | 11,993,734 | 7,315,352 | 11,256,349 | 7,309,466 |
Basic Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.34 | $ 0.24 | $ 0.99 | $ 0.82 |
Diluted Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.33 | $ 0.23 | $ 0.95 | $ 0.78 |
Note 5 - Securities - Securitie
Note 5 - Securities - Securities Available-for-sale (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Amortized cost | $ 250,392 | $ 181,229 |
Gross unrealized gains | 142 | 427 |
Gross unrealized losses | 6,949 | 2,508 |
Fair value | 243,585 | 179,148 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 11,675 | 9,008 |
Gross unrealized gains | 0 | 13 |
Gross unrealized losses | 323 | 68 |
Fair value | 11,352 | 8,953 |
Corporate Debt Securities [Member] | ||
Amortized cost | 13,057 | 13,074 |
Gross unrealized gains | 62 | 59 |
Gross unrealized losses | 230 | 92 |
Fair value | 12,889 | 13,041 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized cost | 135,218 | 81,763 |
Gross unrealized gains | 2 | 2 |
Gross unrealized losses | 4,919 | 1,824 |
Fair value | 130,301 | 79,941 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 89,651 | 76,553 |
Gross unrealized gains | 78 | 353 |
Gross unrealized losses | 1,406 | 427 |
Fair value | 88,323 | 76,479 |
Other Debt Obligations [Member] | ||
Amortized cost | 791 | 831 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 71 | 97 |
Fair value | $ 720 | $ 734 |
Note 5 - Securities - Securit_2
Note 5 - Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Less than 12 months, fair value | $ 134,306 | $ 42,702 |
Less than 12 months, gross unrealized losses | 3,184 | 364 |
12 months or greater, fair value | 81,489 | 87,854 |
12 months or greater, gross unrealized losses | 3,765 | 2,144 |
Total, fair value | 215,795 | 130,556 |
Total, gross unrealized losses | 6,949 | 2,508 |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, fair value | 9,515 | 4,136 |
Less than 12 months, gross unrealized losses | 253 | 56 |
12 months or greater, fair value | 1,837 | 2,004 |
12 months or greater, gross unrealized losses | 70 | 12 |
Total, fair value | 11,352 | 6,140 |
Total, gross unrealized losses | 323 | 68 |
Corporate Debt Securities [Member] | ||
Less than 12 months, fair value | 2,020 | 4,448 |
Less than 12 months, gross unrealized losses | 2 | 69 |
12 months or greater, fair value | 2,273 | 2,007 |
12 months or greater, gross unrealized losses | 228 | 23 |
Total, fair value | 4,293 | 6,455 |
Total, gross unrealized losses | 230 | 92 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 months, fair value | 66,459 | 8,320 |
Less than 12 months, gross unrealized losses | 1,968 | 71 |
12 months or greater, fair value | 63,492 | 71,182 |
12 months or greater, gross unrealized losses | 2,951 | 1,753 |
Total, fair value | 129,951 | 79,502 |
Total, gross unrealized losses | 4,919 | 1,824 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, fair value | 56,312 | 25,798 |
Less than 12 months, gross unrealized losses | 961 | 168 |
12 months or greater, fair value | 13,167 | 11,927 |
12 months or greater, gross unrealized losses | 445 | 259 |
Total, fair value | 69,479 | 37,725 |
Total, gross unrealized losses | 1,406 | 427 |
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 | 720 | 734 |
12 months or greater, gross unrealized losses | 71 | 97 |
Total, fair value | 720 | 734 |
Total, gross unrealized losses | $ 71 | $ 97 |
Note 5 - Securities - Securit_3
Note 5 - Securities - Securities Available-for-sale by Contractual Maturity (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Less Than One Year, Amortized Cost | $ 12,084 |
Less Than One Year, Fair Value | 12,055 |
One to Five Years, Amortized Cost | 49,530 |
One to Five Years, Fair Value | 49,081 |
Over Five to Ten Years, Amortized Cost | 118,010 |
Over Five to Ten Years, Fair Value | 114,140 |
Over Ten Years, Amortized Cost | 70,768 |
Over Ten Years, Fair Value | 68,309 |
Amortized Cost | 250,392 |
Fair Value | $ 243,585 |
Note 6 - Loans and the Allowa_3
Note 6 - Loans and the Allowance for Loan Losses - (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Loans and Leases Receivable, Deferred Income, Total | $ 1,400,000 | $ 1,300,000 | ||||
Loans and Leases Receivable Reclassified from Overdraft | 159,000 | 129,000 | ||||
Loans Receivable, Unpaid Principal Balance | 129,200,000 | 82,400,000 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 5,370,000 | [1] | 696,000 | [1] | $ 1,776,000 | |
Loans and Leases Receivable, Net of Deferred Income, Total | 1,297,959,000 | 975,284,000 | ||||
Impaired Financing Receivable, Interest Income, Accrual Method, Total | 186,000 | $ 257,000 | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 79,000 | 3,300,000 | ||||
Minden Bancorp [Member] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 5,400,000 | |||||
Minden Bancorp [Member] | Performing Financial Instruments [Member] | ||||||
Loans and Leases Receivable, Deferred Income, Total | 2,700,000 | |||||
Loans Receivable, Fair Value Disclosure | 163,300,000 | |||||
Loans and Leases Receivable, Net of Deferred Income, Total | $ 160,600,000 | |||||
American Gateway Financial Corporation [Member] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 696,000 | |||||
American Gateway Financial Corporation [Member] | Performing Financial Instruments [Member] | ||||||
Loans and Leases Receivable, Deferred Income, Total | 1,800,000 | |||||
Loans Receivable, Fair Value Disclosure | 46,100,000 | |||||
Loans and Leases Receivable, Net of Deferred Income, Total | $ 47,200,000 | |||||
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 6 - Loans and the Allowa_4
Note 6 - Loans and the Allowance for Loan Losses - Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Loans | $ 1,297,959 | $ 975,284 | |
Allowance for loan losses | (10,273) | (8,765) | $ (8,162) |
Net loans | 1,287,686 | 966,519 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||
Loans | 196,404 | 143,535 | |
Allowance for loan losses | (1,634) | (1,421) | (933) |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans | 26,882 | 10,480 | |
Allowance for loan losses | (102) | (76) | (75) |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Loans | 432,306 | 337,699 | |
Allowance for loan losses | (2,572) | (2,323) | (2,314) |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | |||
Loans | 234,690 | 157,505 | |
Allowance for loan losses | (1,533) | (1,284) | (1,228) |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Loans | 22,109 | 20,717 | |
Allowance for loan losses | (145) | (144) | (172) |
Commercial Portfolio Segment [Member] | |||
Loans | 317,889 | 254,427 | |
Allowance for loan losses | (3,840) | (3,147) | (3,039) |
Consumer Portfolio Segment [Member] | |||
Loans | 67,679 | 50,921 | |
Allowance for loan losses | $ (447) | $ (370) | $ (401) |
Note 6 - Loans and the Allowa_5
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, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Beginning Balance | $ 8,765 | $ 8,162 | $ 8,162 | |||||||
Charge-offs | (453) | (3,784) | ||||||||
Recoveries | 510 | 150 | ||||||||
Provision | $ 503 | $ 247 | 1,451 | 1,907 | 4,237 | |||||
Ending Balance | 10,273 | 10,273 | 8,765 | |||||||
Allowance for credit losses, individually evaluated for impairment | 373 | 373 | 536 | |||||||
Allowance for credit losses, collectively evaluated for impairment | 9,900 | 9,900 | 8,195 | |||||||
Allowance for credit losses, purchased credit impaired | [1] | 34 | ||||||||
Loans receivable | 1,297,959 | 1,297,959 | 975,284 | |||||||
Loans receivable, individually evaluated for impairment | 12,505 | 12,505 | 13,449 | |||||||
Loans receivable, collectively evaluated for impairment | 1,280,084 | 1,280,084 | 961,139 | |||||||
Loans receivable, purchased credit impaired | 5,370 | [1] | 5,370 | [1] | 696 | [1] | $ 1,776 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||||||||||
Beginning Balance | 1,421 | 933 | 933 | |||||||
Charge-offs | (90) | (2) | ||||||||
Recoveries | 398 | 1 | ||||||||
Provision | (95) | 489 | ||||||||
Ending Balance | 1,634 | 1,634 | 1,421 | |||||||
Allowance for credit losses, individually evaluated for impairment | 0 | 0 | 36 | |||||||
Allowance for credit losses, collectively evaluated for impairment | 1,634 | 1,634 | 1,385 | |||||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||||||
Loans receivable | 196,404 | 196,404 | 143,535 | |||||||
Loans receivable, individually evaluated for impairment | 7 | 7 | 92 | |||||||
Loans receivable, collectively evaluated for impairment | 196,397 | 196,397 | 143,443 | |||||||
Loans receivable, purchased credit impaired | [1] | 0 | 0 | 0 | ||||||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||||||||||
Beginning Balance | 76 | 75 | 75 | |||||||
Charge-offs | 0 | 0 | ||||||||
Recoveries | 0 | 0 | ||||||||
Provision | 26 | 1 | ||||||||
Ending Balance | 102 | 102 | 76 | |||||||
Allowance for credit losses, individually evaluated for impairment | 0 | 0 | 0 | |||||||
Allowance for credit losses, collectively evaluated for impairment | 102 | 102 | 76 | |||||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||||||
Loans receivable | 26,882 | 26,882 | 10,480 | |||||||
Loans receivable, individually evaluated for impairment | 0 | 0 | 0 | |||||||
Loans receivable, collectively evaluated for impairment | 26,882 | 26,882 | 10,480 | |||||||
Loans receivable, purchased credit impaired | [1] | 0 | 0 | 0 | ||||||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||||||||||
Beginning Balance | 2,323 | 2,314 | 2,314 | |||||||
Charge-offs | 0 | (617) | ||||||||
Recoveries | 13 | 23 | ||||||||
Provision | 236 | 603 | ||||||||
Ending Balance | 2,572 | 2,572 | 2,323 | |||||||
Allowance for credit losses, individually evaluated for impairment | 54 | 54 | 46 | |||||||
Allowance for credit losses, collectively evaluated for impairment | 2,518 | 2,518 | 2,277 | |||||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||||||
Loans receivable | 432,306 | 432,306 | 337,699 | |||||||
Loans receivable, individually evaluated for impairment | 4,123 | 4,123 | 5,831 | |||||||
Loans receivable, collectively evaluated for impairment | 422,980 | 422,980 | 331,380 | |||||||
Loans receivable, purchased credit impaired | [1] | 5,203 | 5,203 | 488 | ||||||
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||||||||||
Beginning Balance | 1,284 | 1,228 | 1,228 | |||||||
Charge-offs | (290) | (184) | ||||||||
Recoveries | 11 | 48 | ||||||||
Provision | 528 | 192 | ||||||||
Ending Balance | 1,533 | 1,533 | 1,284 | |||||||
Allowance for credit losses, individually evaluated for impairment | 105 | 105 | 125 | |||||||
Allowance for credit losses, collectively evaluated for impairment | 1,428 | 1,428 | 1,125 | |||||||
Allowance for credit losses, purchased credit impaired | [1] | 34 | ||||||||
Loans receivable | 234,690 | 234,690 | 157,505 | |||||||
Loans receivable, individually evaluated for impairment | 2,895 | 2,895 | 2,817 | |||||||
Loans receivable, collectively evaluated for impairment | 231,628 | 231,628 | 154,480 | |||||||
Loans receivable, purchased credit impaired | [1] | 167 | 167 | 208 | ||||||
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||||||||||
Beginning Balance | 144 | 172 | 172 | |||||||
Charge-offs | 0 | 0 | ||||||||
Recoveries | 0 | 0 | ||||||||
Provision | 1 | (28) | ||||||||
Ending Balance | 145 | 145 | 144 | |||||||
Allowance for credit losses, individually evaluated for impairment | 0 | 0 | 0 | |||||||
Allowance for credit losses, collectively evaluated for impairment | 145 | 145 | 144 | |||||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||||||
Loans receivable | 22,109 | 22,109 | 20,717 | |||||||
Loans receivable, individually evaluated for impairment | 0 | 0 | 0 | |||||||
Loans receivable, collectively evaluated for impairment | 22,109 | 22,109 | 20,717 | |||||||
Loans receivable, purchased credit impaired | [1] | 0 | 0 | 0 | ||||||
Commercial Portfolio Segment [Member] | ||||||||||
Beginning Balance | 3,147 | 3,039 | 3,039 | |||||||
Charge-offs | 0 | (2,945) | ||||||||
Recoveries | 25 | 40 | ||||||||
Provision | 668 | 3,013 | ||||||||
Ending Balance | 3,840 | 3,840 | 3,147 | |||||||
Allowance for credit losses, individually evaluated for impairment | 214 | 214 | 329 | |||||||
Allowance for credit losses, collectively evaluated for impairment | 3,626 | 3,626 | 2,818 | |||||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||||||
Loans receivable | 317,889 | 317,889 | 254,427 | |||||||
Loans receivable, individually evaluated for impairment | 5,377 | 5,377 | 4,268 | |||||||
Loans receivable, collectively evaluated for impairment | 312,512 | 312,512 | 250,159 | |||||||
Loans receivable, purchased credit impaired | [1] | 0 | 0 | 0 | ||||||
Consumer Portfolio Segment [Member] | ||||||||||
Beginning Balance | 370 | $ 401 | 401 | |||||||
Charge-offs | (73) | (36) | ||||||||
Recoveries | 63 | 38 | ||||||||
Provision | 87 | (33) | ||||||||
Ending Balance | 447 | 447 | 370 | |||||||
Allowance for credit losses, individually evaluated for impairment | 0 | 0 | 0 | |||||||
Allowance for credit losses, collectively evaluated for impairment | 447 | 447 | 370 | |||||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | 0 | ||||||
Loans receivable | 67,679 | 67,679 | 50,921 | |||||||
Loans receivable, individually evaluated for impairment | 103 | 103 | 441 | |||||||
Loans receivable, collectively evaluated for impairment | 67,576 | 67,576 | 50,480 | |||||||
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 Allowa_6
Note 6 - Loans and the Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Loans | $ 1,297,959 | $ 975,284 |
Pass [Member] | ||
Loans | 1,252,415 | 924,290 |
Special Mention [Member] | ||
Loans | 16,424 | 32,824 |
Substandard [Member] | ||
Loans | 17,779 | 5,635 |
Doubtful [Member] | ||
Loans | 11,341 | 12,535 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Loans | 196,404 | 143,535 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Pass [Member] | ||
Loans | 193,894 | 141,128 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Special Mention [Member] | ||
Loans | 1,208 | 1,953 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Substandard [Member] | ||
Loans | 1,295 | 362 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Doubtful [Member] | ||
Loans | 7 | 92 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Loans | 26,882 | 10,480 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | ||
Loans | 26,880 | 10,480 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | ||
Loans | 2 | 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 | 432,306 | 337,699 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Pass [Member] | ||
Loans | 414,530 | 325,216 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Special Mention [Member] | ||
Loans | 5,786 | 4,861 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Substandard [Member] | ||
Loans | 5,926 | 1,687 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Doubtful [Member] | ||
Loans | 6,064 | 5,935 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Loans | 234,690 | 157,505 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Pass [Member] | ||
Loans | 225,196 | 148,845 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Special Mention [Member] | ||
Loans | 4,616 | 4,657 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Substandard [Member] | ||
Loans | 2,384 | 1,574 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Doubtful [Member] | ||
Loans | 2,494 | 2,429 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Loans | 22,109 | 20,717 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Pass [Member] | ||
Loans | 22,072 | 20,677 |
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 | 37 | 40 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans | 317,889 | 254,427 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 303,204 | 228,157 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 3,960 | 20,681 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 8,052 | 1,951 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 2,673 | 3,638 |
Consumer Portfolio Segment [Member] | ||
Loans | 67,679 | 50,921 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 66,639 | 49,787 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 852 | 672 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 85 | 21 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | $ 103 | $ 441 |
Note 6 - Loans and the Allowa_7
Note 6 - Loans and the Allowance for Loan Losses - Past Due Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Past due | $ 10,029 | $ 11,242 |
Current | 1,287,930 | 964,042 |
Loans | 1,297,959 | 975,284 |
Recorded investment over 90 days past due and still accruing | 256 | 132 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 2,170 | 2,820 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 744 | 422 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 7,115 | 8,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Past due | 91 | 91 |
Current | 196,313 | 143,444 |
Loans | 196,404 | 143,535 |
Recorded investment over 90 days past due and still accruing | 27 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 42 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 20 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 29 | 91 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Past due | 0 | 0 |
Current | 26,882 | 10,480 |
Loans | 26,882 | 10,480 |
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 | 3,765 | 5,776 |
Current | 428,541 | 331,923 |
Loans | 432,306 | 337,699 |
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 | 251 | 2,344 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 103 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 3,514 | 3,329 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Past due | 2,782 | 1,728 |
Current | 231,908 | 155,777 |
Loans | 234,690 | 157,505 |
Recorded investment over 90 days past due and still accruing | 122 | 73 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 1,251 | 470 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 356 | 319 |
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 | 1,175 | 939 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Past due | 0 | |
Current | 22,109 | 20,717 |
Loans | 22,109 | 20,717 |
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 | |
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 | 3,094 | 3,274 |
Current | 314,795 | 251,153 |
Loans | 317,889 | 254,427 |
Recorded investment over 90 days past due and still accruing | 78 | 59 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 507 | 0 |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 297 | 0 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 2,290 | 3,274 |
Consumer Portfolio Segment [Member] | ||
Past due | 297 | 373 |
Current | 67,382 | 50,548 |
Loans | 67,679 | 50,921 |
Recorded investment over 90 days past due and still accruing | 29 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 119 | 6 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 71 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | $ 107 | $ 367 |
Note 6 - Loans and the Allowa_8
Note 6 - Loans and the Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Recorded investment, with an allowance recorded | $ 1,213 | $ 1,436 |
Unpaid principal balance, with an allowance recorded | 1,388 | 1,543 |
Related allowance | 373 | 536 |
Average recorded investment, with an allowance recorded | 1,086 | 1,830 |
Recorded investment, with no allowance recorded | 11,292 | 12,013 |
Unpaid principal balance, with no allowance recorded | 13,783 | 14,459 |
Average recorded investment, with no allowance recorded | 14,505 | 11,775 |
Recorded investment | 12,505 | 13,449 |
Unpaid principal balance | 15,171 | 16,002 |
Average recorded investment | 15,591 | 13,605 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Recorded investment, with an allowance recorded | 0 | 90 |
Unpaid principal balance, with an allowance recorded | 0 | 90 |
Related allowance | 0 | 36 |
Average recorded investment, with an allowance recorded | 30 | 74 |
Recorded investment, with no allowance recorded | 7 | 3 |
Unpaid principal balance, with no allowance recorded | 35 | 9 |
Average recorded investment, with no allowance recorded | 12 | 44 |
Recorded investment | 7 | 93 |
Unpaid principal balance | 35 | 99 |
Average recorded investment | 42 | 118 |
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 | 463 | 316 |
Unpaid principal balance, with an allowance recorded | 509 | 341 |
Related allowance | 54 | 46 |
Average recorded investment, with an allowance recorded | 339 | 462 |
Recorded investment, with no allowance recorded | 3,660 | 5,515 |
Unpaid principal balance, with no allowance recorded | 3,728 | 5,653 |
Average recorded investment, with no allowance recorded | 5,764 | 3,402 |
Recorded investment | 4,123 | 5,831 |
Unpaid principal balance | 4,237 | 5,994 |
Average recorded investment | 6,103 | 3,864 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Recorded investment, with an allowance recorded | 372 | 491 |
Unpaid principal balance, with an allowance recorded | 452 | 540 |
Related allowance | 105 | 125 |
Average recorded investment, with an allowance recorded | 289 | 787 |
Recorded investment, with no allowance recorded | 2,523 | 2,325 |
Unpaid principal balance, with no allowance recorded | 3,018 | 2,744 |
Average recorded investment, with no allowance recorded | 2,728 | 2,188 |
Recorded investment | 2,895 | 2,816 |
Unpaid principal balance | 3,470 | 3,284 |
Average recorded investment | 3,017 | 2,975 |
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 | 378 | 539 |
Unpaid principal balance, with an allowance recorded | 427 | 572 |
Related allowance | 214 | 329 |
Average recorded investment, with an allowance recorded | 428 | 502 |
Recorded investment, with no allowance recorded | 4,999 | 3,729 |
Unpaid principal balance, with no allowance recorded | 6,857 | 5,581 |
Average recorded investment, with no allowance recorded | 5,689 | 5,898 |
Recorded investment | 5,377 | 4,268 |
Unpaid principal balance | 7,284 | 6,153 |
Average recorded investment | 6,117 | 6,400 |
Consumer Portfolio Segment [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 | 5 |
Recorded investment, with no allowance recorded | 103 | 441 |
Unpaid principal balance, with no allowance recorded | 145 | 472 |
Average recorded investment, with no allowance recorded | 312 | 243 |
Recorded investment | 103 | 441 |
Unpaid principal balance | 145 | 472 |
Average recorded investment | $ 312 | $ 248 |
Note 6 - Loans and the Allowa_9
Note 6 - Loans and the Allowance for Loan Losses - Purchased Impaired Credits (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Dec. 31, 2017 | |||
Carrying amount, beginning balance | $ 696 | [1] | $ 1,776 | |
Payments received, net of discounts realized | (140) | (924) | ||
Purchased impaired credit participation interest sales proceeds, net of discount realized | 511 | |||
Charge-offs | (667) | |||
Carrying amount of purchased impaired credits acquired in MBI acquisition | 4,814 | |||
Carrying amount, ending balance | [1] | $ 5,370 | $ 696 | |
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 6 - Loans and the Allow_10
Note 6 - Loans and the Allowance for Loan Losses - Troubled Debt Restructurings (Details) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
Number of contracts | 11 | 6 |
Pre-modification outstanding recorded investment | $ 8,860 | $ 5,201 |
Post-modification outstanding recorded investment | $ 6,373 | $ 3,060 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Number of contracts | 1 | 2 |
Pre-modification outstanding recorded investment | $ 524 | $ 703 |
Post-modification outstanding recorded investment | $ 401 | $ 455 |
Residential Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Number of contracts | 3 | |
Pre-modification outstanding recorded investment | $ 2,412 | |
Post-modification outstanding recorded investment | $ 2,370 | |
Commercial Portfolio Segment [Member] | ||
Number of contracts | 7 | 4 |
Pre-modification outstanding recorded investment | $ 5,924 | $ 4,498 |
Post-modification outstanding recorded investment | $ 3,602 | $ 2,605 |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies - (Details Textual) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Operating Leases, Rent Expense, Total | $ 1.8 | $ 1.3 |
Minimum [Member] | ||
Non-cancelable Operating Lease Terms | 1 year | |
Maximum [Member] | ||
Non-cancelable Operating Lease Terms | 10 years | |
Commitments to Extend Credit [Member] | ||
Contractual Obligation, Total | $ 274 | |
Standby Letters of Credit [Member] | ||
Contractual Obligation, Total | $ 11.3 |
Note 7 - Commitments and Cont_4
Note 7 - Commitments and Contingencies - Future Minimum Lease Payments Under Leases (Details) $ in Thousands | Sep. 30, 2018USD ($) |
October 1, 2018 through September 30, 2019 | $ 2,571 |
October 1, 2019 through September 30, 2020 | 1,506 |
October 1, 2020 through September 30, 2021 | 1,257 |
October 1, 2021 through September 30, 2022 | 1,068 |
October 1, 2022 and Thereafter | 5,500 |
Total Future Minimum Lease Payments | $ 11,902 |
Note 8 - Fair Value of Financ_3
Note 8 - Fair Value of Financial Instruments - (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Measurements, Recurring [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | $ 0 |
Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 335,000 | |
Debt Securities, Available-for-sale, Paydown | $ 293,000 |
Note 8 - Fair Value of Financ_4
Note 8 - Fair Value of Financial Instruments - Assets and Liabilities Measured On a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Securities available for sale | $ 243,585 | $ 179,148 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 235,551 | 170,486 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 8,034 | 8,662 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 11,352 | 8,953 |
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 | 11,352 | 8,953 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Corporate Debt Securities [Member] | ||
Securities available for sale | 12,889 | 13,041 |
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 | 12,889 | 13,041 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale | 130,301 | 79,941 |
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 | 130,301 | 79,941 |
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 | 88,323 | 76,479 |
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 | 80,289 | 67,817 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 8,034 | 8,662 |
Other Debt Obligations [Member] | ||
Securities available for sale | 720 | 734 |
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 | 720 | 734 |
Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale |
Note 8 - Fair Value of Financ_5
Note 8 - Fair Value of Financial Instruments - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets measured on a nonrecurring basis | $ 19,337 | $ 13,803 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 19,337 | 13,803 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | ||
Impaired Loans [Member] | ||
Assets measured on a nonrecurring basis | 17,503 | 13,576 |
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 | 17,503 | 13,576 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | ||
Repossessed Assets [Member] | ||
Assets measured on a nonrecurring basis | 1,834 | 227 |
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 | 1,834 | 227 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis |
Note 8 - Fair Value of Financ_6
Note 8 - Fair Value of Financial Instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financial Assets: | ||
Securities | $ 243,585 | $ 179,148 |
Other Equity Securities | 10,339 | 8,627 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Securities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Securities | 235,551 | 170,486 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Securities | 8,034 | 8,662 |
Reported Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 51,875 | 116,411 |
Securities | 243,585 | 179,148 |
Mortgage Loans Held for Sale | 280 | 201 |
Loans - Net | 1,287,686 | 966,519 |
Cash Value of BOLI | 24,442 | 23,200 |
Other Equity Securities | 10,339 | 8,627 |
Total | 1,618,207 | 1,294,106 |
Financial Liabilities: | ||
Deposits | 1,354,071 | 1,055,533 |
Borrowings | 102,572 | 80,501 |
Total | 1,456,643 | 1,136,034 |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 51,875 | 116,411 |
Securities | 243,585 | 179,148 |
Mortgage Loans Held for Sale | 280 | 201 |
Loans - Net | 1,271,359 | 952,113 |
Cash Value of BOLI | 24,442 | 23,200 |
Other Equity Securities | 10,339 | 8,627 |
Total | 1,601,880 | 1,279,700 |
Financial Liabilities: | ||
Deposits | 1,344,936 | 1,046,096 |
Borrowings | 106,876 | 81,059 |
Total | 1,451,812 | 1,127,155 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 51,875 | 116,411 |
Securities | ||
Mortgage Loans Held for Sale | ||
Loans - Net | ||
Cash Value of BOLI | ||
Other Equity Securities | ||
Total | 51,875 | 116,411 |
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 | 235,551 | 170,486 |
Mortgage Loans Held for Sale | 280 | 201 |
Loans - Net | ||
Cash Value of BOLI | 24,442 | 23,200 |
Other Equity Securities | ||
Total | 260,273 | 193,887 |
Financial Liabilities: | ||
Deposits | ||
Borrowings | 106,876 | 81,059 |
Total | 106,876 | 81,059 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | ||
Securities | 8,034 | 8,662 |
Mortgage Loans Held for Sale | ||
Loans - Net | 1,271,359 | 952,113 |
Cash Value of BOLI | ||
Other Equity Securities | 10,339 | 8,627 |
Total | 1,289,732 | 969,402 |
Financial Liabilities: | ||
Deposits | 1,344,936 | 1,046,096 |
Borrowings | ||
Total | $ 1,344,936 | $ 1,046,096 |