Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 03, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | Business First Bancshares, Inc. | |
Entity Central Index Key | 0001624322 | |
Trading Symbol | bfst | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 13,361,482 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Cash and Due from Banks | $ 52,606 | $ 96,072 |
Federal Funds Sold | 30,093 | 41,836 |
Securities Available for Sale, at Fair Values | 304,122 | 309,516 |
Mortgage Loans Held for Sale | 753 | 58 |
Loans and Lease Receivable, Net of Allowance for Loan Losses of $11,818 at March 31, 2019 and $11,220 at December 31, 2018 | 1,574,364 | 1,517,249 |
Premises and Equipment, Net | 27,014 | 15,114 |
Accrued Interest Receivable | 7,054 | 8,223 |
Other Equity Securities | 8,508 | 9,282 |
Other Real Estate Owned | 1,683 | 1,909 |
Cash Value of Life Insurance | 32,050 | 31,882 |
Deferred Taxes | 3,077 | 3,848 |
Goodwill | 49,534 | 49,488 |
Core Deposit Intangible | 7,655 | 7,885 |
Other Assets | 2,887 | 2,534 |
Total Assets | 2,101,400 | 2,094,896 |
LIABILITIES | ||
Noninterest Bearing | 396,775 | 382,354 |
Interest Bearing | 1,347,608 | 1,351,580 |
Total Deposits | 1,744,383 | 1,733,934 |
Securities Sold Under Agreements to Repurchase | 11,070 | 12,229 |
Subordinated Debt | 25,000 | 25,000 |
Federal Home Loan Bank Borrowings | 30,000 | 55,000 |
Accrued Interest Payable | 2,039 | 1,374 |
Other Liabilities | 19,764 | 7,301 |
Total Liabilities | 1,832,256 | 1,834,838 |
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; 13,361,482 and 13,213,280 Shares Issued and Outstanding at March 31, 2019 and December 31, 2018, respectively | 13,361 | 13,213 |
Additional Paid-in Capital | 213,537 | 212,332 |
Retained Earnings | 42,576 | 37,982 |
Accumulated Other Comprehensive Loss | (330) | (3,469) |
Total Shareholders' Equity | 269,144 | 260,058 |
Total Liabilities and Shareholders' Equity | $ 2,101,400 | $ 2,094,896 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Allowance for loan losses | $ 11,818 | $ 11,220 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
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) | 13,361,482 | 13,213,280 |
Common stock, shares outstanding (in shares) | 13,361,482 | 13,213,280 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Interest Income: | ||
Interest and Fees on Loans | $ 22,423 | $ 15,676 |
Interest and Dividends on Securities | 1,874 | 1,423 |
Interest on Federal Funds Sold and Due From Banks | 290 | 127 |
Total Interest Income | 24,587 | 17,226 |
Interest Expense: | ||
Interest on Deposits | 4,757 | 2,298 |
Interest on Borrowings | 710 | 428 |
Total Interest Expense | 5,467 | 2,726 |
Net Interest Income | 19,120 | 14,500 |
Provision for Loan Losses | 633 | 474 |
Net Interest Income after Provision for Loan Losses | 18,487 | 14,026 |
Other Income: | ||
Service Charges on Deposit Accounts | 938 | 610 |
Other Income | 1,373 | 1,125 |
Total Other Income | 2,311 | 1,735 |
Other Expenses: | ||
Salaries and Employee Benefits | 8,552 | 6,704 |
Occupancy and Equipment Expense | 1,894 | 1,418 |
Other Expenses | 3,344 | 3,822 |
Total Other Expenses | 13,790 | 11,944 |
Income Before Income Taxes | 7,008 | 3,817 |
Provision for Income Taxes | 1,349 | 709 |
Net Income | $ 5,659 | $ 3,108 |
Earnings Per Share: | ||
Basic (in dollars per share) | $ 0.43 | $ 0.30 |
Diluted (in dollars per share) | $ 0.41 | $ 0.29 |
Unaudited Consolidated Statem_2
Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Consolidated Net Income | $ 5,659 | $ 3,108 |
Other Comprehensive Income (Loss): | ||
Unrealized Gain (Loss) on Investment Securities | 3,973 | (3,470) |
Income Tax Effect | (834) | 729 |
Other Comprehensive Income (Loss) | 3,139 | (2,741) |
Consolidated Comprehensive Income (Loss) | $ 8,798 | $ 367 |
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, 2017 | $ 10,232 | $ 144,172 | $ 27,175 | $ (1,644) | $ 179,935 |
Comprehensive Income: | |||||
Net Income | 3,108 | 3,108 | |||
Other Comprehensive Income (Loss) | (2,741) | (2,741) | |||
Cash Dividends Declared | (614) | (614) | |||
Stock Based Compensation Cost | 44 | 344 | 388 | ||
Surrendered Shares of Stock Based Compensation | (4) | (75) | (3) | (82) | |
Balances at at Mar. 31, 2018 | 10,272 | 144,441 | 29,666 | (4,385) | 179,994 |
Balances at at Dec. 31, 2017 | 10,232 | 144,172 | 27,175 | (1,644) | 179,935 |
Balances at at Dec. 31, 2018 | 13,213 | 212,332 | 37,982 | (3,469) | 260,058 |
Comprehensive Income: | |||||
Net Income | 5,659 | 5,659 | |||
Other Comprehensive Income (Loss) | 3,139 | 3,139 | |||
Cash Dividends Declared | (1,065) | (1,065) | |||
Stock Based Compensation Cost | 44 | 249 | 293 | ||
Surrendered Shares of Stock Based Compensation | (10) | (198) | (208) | ||
Balances at at Mar. 31, 2019 | 13,361 | 213,537 | 42,576 | (330) | 269,144 |
Balances at at Dec. 31, 2018 | 13,213 | 212,332 | 37,982 | (3,469) | 260,058 |
Comprehensive Income: | |||||
Stock Issuance | $ 114 | $ 1,154 | $ 1,268 |
Unaudited Consolidated Statem_4
Unaudited Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Retained Earnings [Member] | ||
Cash dividends declared (in dollars per share) | $ 0.08 | $ 0.06 |
Unaudited Consolidated Statem_5
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash Flows From Operating Activities: | ||
Consolidated Net Income | $ 5,659 | $ 3,108 |
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities: | ||
Provision for Loan Losses | 633 | 474 |
Depreciation and Amortization | 398 | 290 |
Net Accretion of Purchase Accounting Valuations | (282) | (253) |
Noncash Compensation Expense | 85 | 306 |
Net Amortization of Securities | 439 | 571 |
Loss on Sale of Other Real Estate Owned, Net of Writedowns | 56 | |
Increase in Cash Value of Life Insurance | (168) | (168) |
Credit for Deferred Income Taxes | (63) | (465) |
Changes in Assets and Liabilities: | ||
Decrease in Accrued Interest Receivable | 1,169 | 565 |
(Increase) Decrease in Other Assets | (353) | 1,014 |
Increase (Decrease) in Accrued Interest Payable | 665 | (16) |
Increase (Decrease) in Other Liabilities | 597 | (1,144) |
Net Cash Provided by Operating Activities | 8,835 | 4,282 |
Cash Flows From Investing Activities: | ||
Purchases of Securities Available for Sale | (9,594) | (2,015) |
Proceeds from Maturities / Sales of Securities Available for Sale | 9,828 | 5,740 |
Proceeds from Paydowns of Securities Available for Sale | 8,694 | 8,261 |
Net Cash Paid in Merger | (49,796) | |
Purchases of Other Equity Securities | (46) | (255) |
Redemption of Other Equity Securities | 820 | 58 |
Net Increase in Loans | (58,057) | (22,614) |
Purchases of Premises and Equipment | (432) | (305) |
Proceeds from Sales of Other Real Estate | 170 | 2 |
Net Decrease in Federal Funds Sold | 11,743 | 6,590 |
Net Cash Used in Investing Activities | (36,874) | (54,334) |
Cash Flows From Financing Activities: | ||
Net Increase (Decrease) in Deposits | 10,529 | (11,746) |
Net Decrease in Securities Sold Under Agreements to Repurchase | (1,159) | (2,552) |
Net Repayments on Federal Home Loan Bank Borrowings | (25,000) | (5,000) |
Proceeds from Issuance of Common Stock | 392 | |
Proceeds from Exercise of Stock Warrants | 876 | |
Payment of Dividends on Common Stock | (1,065) | (614) |
Net Cash Used in Financing Activities | (15,427) | (19,912) |
Net Increase (Decrease) in Cash and Cash Equivalents | (43,466) | (69,964) |
Cash and Cash Equivalents at Beginning of Period | 96,072 | 107,591 |
Cash and Cash Equivalents at End of Period | 52,606 | 37,627 |
Supplemental Disclosures for Cash Flow Information: | ||
Interest on Deposits | 4,498 | 2,082 |
Interest on Borrowings | 304 | 430 |
Income Tax Payments | ||
Supplemental Schedule for Noncash Investing and Financing Activities: | ||
Change in the Unrealized Gain (Loss) on Securities Available for Sale | 3,973 | (3,470) |
Change in Deferred Tax Effect on the Unrealized (Gain) Loss on Securities Available for Sale | (834) | 729 |
Transfer of Loans to Other Real Estate | 8 | |
Transfer of Premises and Equipment to Other Real Estate | $ 1,049 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation - | 3 Months Ended |
Mar. 31, 2019 | |
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. These interim financial statements should be read in conjunction with the audited consolidated financial statements and footnote disclosures for the Company’s previously filed Form 10 December 31, 2018. Preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may not may not may not |
Note 2 - Reclassifications -
Note 2 - Reclassifications - | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | Note 2 Certain reclassifications may 2019. no |
Note 3 - Mergers and Acquisitio
Note 3 - Mergers and Acquisitions - | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | Note 3 Mergers and Acquisitions – On January 1, 2018, $56.2 $23.20 December 31, 2017, $317.4 $192.7 $264.0 $30.6 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 After the close of business on November 30, 2018, 1,679,559 $42.4 November 30, 2018, $316.5 $191.0 $290.0 $25.4 Cost and Allocation of Purchase Price for Richland State Bancorp, Inc. (RSBI): (Dollars in thousands, except per share data) Purchase Price: Shares Issued to RSBI Shareholders on December 1, 2018 1,679,559 Closing Stock Price on November 30, 2018 25.29 Total Purchase Price $ 42,476 Net Assets Acquired: Cash and Cash Equivalents $ 40,648 Securities Available for Sale 63,823 Loans and Leases Receivable 190,964 Premises and Equipment, Net 5,282 Cash Value of Life Insurance 7,260 Core Deposit Intangible 3,947 Other Assets 4,527 Total Assets 316,451 Deposits 289,979 Other Liabilities 1,103 Total Liabilities 291,082 Net Assets Acquired 25,369 Goodwill Resulting from Merger $ 17,107 On May 3, 2019, March 31, 2019, $28.3 $4.7 not |
Note 4 - Earnings Per Common Sh
Note 4 - Earnings Per Common Share - | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 2018 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 5,659 $ 3,108 Denominator: Weighted Average Common Shares Outstanding 13,287,560 10,232,933 Dilutive Effect of Stock Options and Warrants 365,565 345,822 Weighted Average Dilutive Common Shares 13,653,125 10,578,755 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.43 $ 0.30 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.41 $ 0.29 |
Note 5 - Securities -
Note 5 - Securities - | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 December 31, 2018 March 31, 2019 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 19,352 $ 200 $ 37 $ 19,515 Corporate Securities 13,046 98 232 12,912 Mortgage-Backed Securities 167,705 975 1,816 166,864 Municipal Securities 104,436 630 235 104,831 Total Securities Available for Sale $ 304,539 $ 1,903 $ 2,320 $ 304,122 December 31, 2018 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 17,529 $ 54 $ 144 $ 17,439 Corporate Securities 13,052 76 436 12,692 Mortgage-Backed Securities 168,854 328 3,564 165,618 Municipal Securities 114,472 250 955 113,767 Total Securities Available for Sale $ 313,907 $ 708 $ 5,099 $ 309,516 The following tables present a summary of securities with gross unrealized losses and fair values at March 31, 2019 December 31, 2018, March 31, 2019 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 $ - $ - $ 4,347 $ 37 $ 4,347 $ 37 Corporate Securities 3,938 92 2,360 140 6,298 232 Mortgage-Backed Securities 17 - 109,574 1,816 109,591 1,816 Municipal Securities 7,529 31 26,745 204 34,274 235 Total Securities Available for Sale $ 11,484 $ 123 $ 143,026 $ 2,197 $ 154,510 $ 2,320 December 31, 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 $ 4,399 $ 28 $ 4,610 $ 116 $ 9,009 $ 144 Corporate Securities 6,274 260 2,324 176 8,598 436 Mortgage-Backed Securities 67,770 1,264 61,271 2,300 129,041 3,564 Municipal Securities 40,473 484 29,782 471 70,255 955 Total Securities Available for Sale $ 118,916 $ 2,036 $ 97,987 $ 3,063 $ 216,903 $ 5,099 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 March 31, 2019 may may Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 13,370 $ 13,395 One to Five Years 67,733 67,901 Over Five to Ten Years 138,146 137,588 Over Ten Years 85,290 85,238 Total Securities Available for Sale $ 304,539 $ 304,122 |
Note 6 - Loans and the Allowanc
Note 6 - Loans and the Allowance for Loan Losses - | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 6 – Loans and the Allowance for Loan Losses – Loans receivable at March 31, 2019 December 31, 2018 March 31, December 31, 2019 2018 (Dollars in thousands) Real estate loans: Construction and land $ 211,888 $ 211,054 Farmland 44,066 45,989 1-4 family residential 275,610 270,583 Multi-family residential 39,548 39,273 Nonfarm nonresidential 550,103 518,660 Commercial 389,855 363,640 Consumer 75,112 79,270 Total loans held for investment 1,586,182 1,528,469 Less: Allowance for loan losses (11,818 ) (11,220 ) Net loans $ 1,574,364 $ 1,517,249 The performing 1 4 March 31, 2019 December 31, 2018. Net deferred loan origination fees were $2.1 $1.7 March 31, 2019 December 31, 2018, March 31, 2019 December 31, 2018, $299,000 $858,000, The Bank is the lead lender on participations sold, without recourse, to other financial institutions which amounts are not $164.2 $147.0 March 31, 2019 December 31, 2018, The Bank grants loans and extensions of credit to individuals and a variety of businesses and corporations located in its general market areas throughout Louisiana 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 March 31, 2019 $288.2 March 31, 2019 310 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality 310 30” $8.0 not 310 30 $283.1 $2.9 Total loans held for investment at December 31, 2018 $334.8 December 31, 2018 $10.7 $327.3 $3.2 The following tables set forth, as of March 31, 2019 December 31, 2018, not not Allowance for Credit Losses and Recorded Investment in Loans Receivable March 31, 2019 (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 $ 1,590 $ 104 $ 1,538 $ 236 $ 2,715 $ 4,453 $ 584 $ 11,220 Charge-offs (2 ) (2 ) (10 ) - (10 ) (20 ) (13 ) (57 ) Recoveries - - 7 - - 5 10 22 Provision 12 3 39 (1 ) 144 448 (12 ) 633 Ending Balance $ 1,600 $ 105 $ 1,574 $ 235 $ 2,849 $ 4,886 $ 569 $ 11,818 Ending Balance: Individually evaluated for impairment $ 2 $ 3 $ 143 $ - $ 18 $ 1,115 $ 74 $ 1,355 Collectively evaluated for impairment $ 1,598 $ 102 $ 1,431 $ 235 $ 2,831 $ 3,771 $ 495 $ 10,463 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 211,888 $ 44,066 $ 275,610 $ 39,548 $ 550,103 $ 389,855 $ 75,112 $ 1,586,182 Ending Balance: Individually evaluated for impairment $ 109 $ 202 $ 2,958 $ - $ 4,405 $ 5,865 $ 200 $ 13,739 Collectively evaluated for impairment $ 211,779 $ 43,700 $ 272,557 $ 39,548 $ 538,682 $ 383,280 $ 74,912 $ 1,564,458 Purchased Credit Impaired (1) $ - $ 164 $ 95 $ - $ 7,016 $ 710 $ - $ 7,985 ( 1 December 31, 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 ) - (294 ) - - - (88 ) (472 ) Recoveries 398 - 18 - 13 28 80 537 Provision (139 ) 28 530 92 379 1,278 222 2,390 Ending Balance $ 1,590 $ 104 $ 1,538 $ 236 $ 2,715 $ 4,453 $ 584 $ 11,220 Ending Balance: Individually evaluated for impairment $ - $ - $ 96 $ - $ 47 $ 1,112 $ 25 $ 1,280 Collectively evaluated for impairment $ 1,590 $ 104 $ 1,442 $ 236 $ 2,668 $ 3,341 $ 559 $ 9,940 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 211,054 $ 45,989 $ 270,583 $ 39,273 $ 518,660 $ 363,640 $ 79,270 $ 1,528,469 Ending Balance: Individually evaluated for impairment $ 32 $ 112 $ 2,728 $ - $ 4,155 $ 5,208 $ 125 $ 12,360 Collectively evaluated for impairment $ 211,022 $ 45,713 $ 267,761 $ 39,273 $ 507,506 $ 354,985 $ 79,145 $ 1,505,405 Purchased Credit Impaired (1) $ - $ 164 $ 94 $ - $ 6,999 $ 3,447 $ - $ 10,704 ( 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 March 31, 2019 December 31, 2018, Credit Quality Indicators March 31, 2019 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 208,997 $ 1,568 $ 1,214 $ 109 $ 211,888 Farmland 43,697 152 15 202 44,066 1-4 family residential 264,981 4,956 2,714 2,959 275,610 Multi-family residential 39,513 - 35 - 39,548 Nonfarm nonresidential 526,600 12,604 4,562 6,337 550,103 Commercial 375,412 3,985 7,081 3,377 389,855 Consumer 73,743 1,024 146 199 75,112 Total $ 1,532,943 $ 24,289 $ 15,767 $ 13,183 $ 1,586,182 December 31, 2018 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 209,027 $ 718 $ 1,277 $ 32 $ 211,054 Farmland 45,563 153 161 112 45,989 1-4 family residential 260,325 4,601 2,929 2,728 270,583 Multi-family residential 39,237 - 36 - 39,273 Nonfarm nonresidential 494,698 14,421 3,510 6,031 518,660 Commercial 347,839 5,690 7,448 2,663 363,640 Consumer 77,731 1,180 234 125 79,270 Total $ 1,474,420 $ 26,763 $ 15,595 $ 11,691 $ 1,528,469 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 March 31, 2019 December 31, 2018. 90 Aged Analysis of Past Due Loans Receivable March 31, 2019 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ 480 $ - $ 30 $ 510 $ 211,378 $ 211,888 $ - Farmland 24 - - 24 44,042 44,066 - 1-4 family residential 1,646 318 1,396 3,360 272,250 275,610 - Multi-family residential 35 - - 35 39,513 39,548 - Nonfarm nonresidential 191 730 5,439 6,360 543,743 550,103 - Commercial 218 96 3,008 3,322 386,533 389,855 72 Consumer 224 32 166 422 74,690 75,112 5 Total $ 2,818 $ 1,176 $ 10,039 $ 14,033 $ 1,572,149 $ 1,586,182 $ 77 December 31, 2018 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ 325 $ 13 $ 89 $ 427 $ 210,627 $ 211,054 $ 60 Farmland - 96 - 96 45,893 45,989 - 1-4 family residential 1,596 588 1,400 3,584 266,999 270,583 270 Multi-family residential 36 - - 36 39,237 39,273 - Nonfarm nonresidential 2,437 - 3,967 6,404 512,256 518,660 450 Commercial 328 287 3,241 3,856 359,784 363,640 1,038 Consumer 237 89 106 432 78,838 79,270 58 Total $ 4,959 $ 1,073 $ 8,803 $ 14,835 $ 1,513,634 $ 1,528,469 $ 1,876 The following is a summary of information pertaining to impaired loans as of March 31, 2019 December 31, 2018. $69,000 $116,000 three March 31, 2019 2018, March 31, 2019 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 2 $ 2 $ 2 $ 2 Farmland 21 22 3 21 1-4 family residential 251 288 143 251 Multi-family residential - - - - Nonfarm nonresidential 559 568 18 559 Other Loans: Commercial 1,886 2,944 1,115 1,886 Consumer 74 76 74 74 Total $ 2,793 $ 3,900 $ 1,355 $ 2,793 With no allowance recorded: Real Estate Loans: Construction and land $ 107 $ 133 $ - $ 94 Farmland 181 265 - 196 1-4 family residential 2,707 4,445 - 2,818 Multi-family residential - - - - Nonfarm nonresidential 3,846 4,043 - 4,321 Other Loans: Commercial 3,979 4,830 - 5,506 Consumer 126 171 - 162 Total $ 10,946 $ 13,887 $ - $ 13,097 Total Impaired Loans: Real Estate Loans: Construction and land $ 109 $ 135 $ 2 $ 96 Farmland 202 287 3 217 1-4 family residential 2,958 4,733 143 3,069 Multi-family residential - - - - Nonfarm nonresidential 4,405 4,611 18 4,880 Other Loans: Commercial 5,865 7,774 1,115 7,392 Consumer 200 247 74 236 Total $ 13,739 $ 17,787 $ 1,355 $ 15,890 December 31, 2018 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ - $ - $ - $ 22 Farmland - - - - 1-4 family residential 363 451 96 303 Multi-family residential - - - - Nonfarm nonresidential 447 501 47 367 Other Loans: Commercial 1,883 2,935 1,112 547 Consumer 25 25 25 2 Total $ 2,718 $ 3,912 $ 1,280 $ 1,241 With no allowance recorded: Real Estate Loans: Construction and land $ 32 $ 56 $ - $ 15 Farmland 112 193 - 9 1-4 family residential 2,365 3,975 - 2,708 Multi-family residential - - - - Nonfarm nonresidential 3,708 3,833 - 5,240 Other Loans: Commercial 3,325 4,198 - 5,350 Consumer 100 144 - 261 Total $ 9,642 $ 12,399 $ - $ 13,583 Total Impaired Loans: Real Estate Loans: Construction and land $ 32 $ 56 $ - $ 37 Farmland 112 193 - 9 1-4 family residential 2,728 4,426 96 3,011 Multi-family residential - - - - Nonfarm nonresidential 4,155 4,334 47 5,607 Other Loans: Commercial 5,208 7,133 1,112 5,897 Consumer 125 169 25 263 Total $ 12,360 $ 16,311 $ 1,280 $ 14,824 The Company elected to account for certain loans acquired in business combinations as acquired impaired loans under ASC 310 30 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, 2017 $ 696 Carrying amount of purchased impaired credits acquired in MBI acquisition 5,798 Carrying amount of purchased impaired credits acquired in RSBI acquisition 4,533 Payments received, net of discounts realized (507 ) Purchased impaired credit participation interest sales proceeds, net of discount realized 210 Charge-offs (26 ) Carrying amount - December 31, 2018 10,704 Payments received, net of discounts realized (2,719 ) Carrying amount - March 31, 2019 $ 7,985 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 March 31, 2019 December 31, 2018, 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 March 31, 2019 December 31, 2018. $79,000 December 31, 2018 none three March 31, 2019. Modifications as of March 31, 2019: 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 $ - $ - Nonfarm nonresidential 3 2,411 2,300 Other Loans: Commercial 6 5,914 3,433 Total 10 $ 8,325 $ 5,733 Modifications as of December 31, 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 $ - $ - Nonfarm nonresidential 3 2,412 2,308 Other Loans: Commercial 6 5,914 3,512 Total 10 $ 8,326 $ 5,820 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies - | 3 Months Ended |
Mar. 31, 2019 | |
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 $343.7 $22.7 March 31, 2019. The Bank leases certain branch offices through non-cancelable operating leases with terms that range from one ten $673,000 $579,000 three March 31, 2019 2018, Future minimum lease payments under these leases are as follows: (Dollars in thousands) April 1, 2019 through March 31, 2020 $ 2,329 April 1, 2020 through March 31, 2021 1,752 April 1, 2021 through March 31, 2022 1,536 April 1, 2022 through March 31, 2023 1,299 April 1, 2023 and Thereafter 6,999 Total Future Minimum Lease Payments $ 13,915 In the normal course of business, the Bank is involved in various legal proceedings. In the opinion of management and counsel, the disposition or ultimate resolution of such proceedings would not |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments - | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 December 31, 2018. not Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2019 Available for Sale: U.S. Government Agency Securities $ 19,515 $ - $ 19,515 $ - Corporate Securities 12,912 - 12,912 - Mortgage-Backed Securities 166,864 - 166,864 - Municipal Securities 104,831 - 96,792 8,039 Total $ 304,122 $ - $ 296,083 $ 8,039 December 31, 2018 Available for Sale: U.S. Government Agency Securities $ 17,439 $ - $ 17,439 $ - Corporate Securities 12,692 - 12,692 - Mortgage-Backed Securities 165,618 - 165,618 - Municipal Securities 113,767 - 105,383 8,384 Total $ 309,516 $ - $ 301,132 $ 8,384 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) March 31, 2019 Assets: Impaired Loans $ 20,078 $ - $ 20,078 $ - Repossessed Assets 1,694 - 1,694 - Total $ 21,772 $ - $ 21,772 $ - December 31, 2018 Assets: Impaired Loans $ 21,557 $ - $ 21,557 $ - Repossessed Assets 1,920 - 1,920 - Total $ 23,477 $ - $ 23,477 $ - 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 March 31, 2019 December 31, 2018 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2019 Financial Assets: Cash and Short-Term Investments $ 82,699 $ 82,699 $ 82,699 $ - $ - Securities 304,122 304,122 - 296,083 8,039 Mortgage Loans Held for Sale 753 753 - 753 - Loans - Net 1,574,364 1,554,947 - - 1,554,947 Cash Value of BOLI 32,050 32,050 - 32,050 - Other Equity Securities 8,508 8,508 - - 8,508 Total $ 2,002,496 $ 1,983,079 $ 82,699 $ 328,886 $ 1,571,494 Financial Liabilities: Deposits $ 1,744,383 $ 1,736,715 $ - $ - $ 1,736,715 Borrowings 66,070 80,116 - 80,116 - Total $ 1,810,453 $ 1,816,831 $ - $ 80,116 $ 1,736,715 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2018 Financial Assets: Cash and Short-Term Investments $ 137,908 $ 137,908 $ 137,908 $ - $ - Securities 309,516 309,516 - 301,132 8,384 Mortgage Loans Held for Sale 58 58 - 58 - Loans - Net 1,517,249 1,495,454 - - 1,495,454 Cash Value of BOLI 31,882 31,882 - 31,882 - Other Equity Securities 9,282 9,282 - - 9,282 Total $ 2,005,895 $ 1,984,100 $ 137,908 $ 333,072 $ 1,513,120 Financial Liabilities: Deposits $ 1,733,934 $ 1,717,698 $ - $ - $ 1,717,698 Borrowings 92,229 104,930 - 104,930 - Total $ 1,826,163 $ 1,822,628 $ - $ 104,930 $ 1,717,698 |
Note 9 - Recently Issued Accoun
Note 9 - Recently Issued Accounting Pronouncements - | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | N ote 9 – Recently Issued Accounting Pronouncements – Accounting Standards Adopted in Current Period In February 2016, 2016 02, Leases (Topic 842 January 1, 2019. $11.9 March 31, 2019. Accounting Standards 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 |
Note 3 - Mergers and Acquisit_2
Note 3 - Mergers and Acquisitions - (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | 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 Purchase Price: Shares Issued to RSBI Shareholders on December 1, 2018 1,679,559 Closing Stock Price on November 30, 2018 25.29 Total Purchase Price $ 42,476 Net Assets Acquired: Cash and Cash Equivalents $ 40,648 Securities Available for Sale 63,823 Loans and Leases Receivable 190,964 Premises and Equipment, Net 5,282 Cash Value of Life Insurance 7,260 Core Deposit Intangible 3,947 Other Assets 4,527 Total Assets 316,451 Deposits 289,979 Other Liabilities 1,103 Total Liabilities 291,082 Net Assets Acquired 25,369 Goodwill Resulting from Merger $ 17,107 |
Note 4 - Earnings Per Common _2
Note 4 - Earnings Per Common Share - (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For The Three Months Ended March 31, 2019 2018 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 5,659 $ 3,108 Denominator: Weighted Average Common Shares Outstanding 13,287,560 10,232,933 Dilutive Effect of Stock Options and Warrants 365,565 345,822 Weighted Average Dilutive Common Shares 13,653,125 10,578,755 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.43 $ 0.30 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.41 $ 0.29 |
Note 5 - Securities - (Tables)
Note 5 - Securities - (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | March 31, 2019 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 19,352 $ 200 $ 37 $ 19,515 Corporate Securities 13,046 98 232 12,912 Mortgage-Backed Securities 167,705 975 1,816 166,864 Municipal Securities 104,436 630 235 104,831 Total Securities Available for Sale $ 304,539 $ 1,903 $ 2,320 $ 304,122 December 31, 2018 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 17,529 $ 54 $ 144 $ 17,439 Corporate Securities 13,052 76 436 12,692 Mortgage-Backed Securities 168,854 328 3,564 165,618 Municipal Securities 114,472 250 955 113,767 Total Securities Available for Sale $ 313,907 $ 708 $ 5,099 $ 309,516 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | March 31, 2019 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 $ - $ - $ 4,347 $ 37 $ 4,347 $ 37 Corporate Securities 3,938 92 2,360 140 6,298 232 Mortgage-Backed Securities 17 - 109,574 1,816 109,591 1,816 Municipal Securities 7,529 31 26,745 204 34,274 235 Total Securities Available for Sale $ 11,484 $ 123 $ 143,026 $ 2,197 $ 154,510 $ 2,320 December 31, 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 $ 4,399 $ 28 $ 4,610 $ 116 $ 9,009 $ 144 Corporate Securities 6,274 260 2,324 176 8,598 436 Mortgage-Backed Securities 67,770 1,264 61,271 2,300 129,041 3,564 Municipal Securities 40,473 484 29,782 471 70,255 955 Total Securities Available for Sale $ 118,916 $ 2,036 $ 97,987 $ 3,063 $ 216,903 $ 5,099 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 13,370 $ 13,395 One to Five Years 67,733 67,901 Over Five to Ten Years 138,146 137,588 Over Ten Years 85,290 85,238 Total Securities Available for Sale $ 304,539 $ 304,122 |
Note 6 - Loans and the Allowa_2
Note 6 - Loans and the Allowance for Loan Losses - (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2019 2018 (Dollars in thousands) Real estate loans: Construction and land $ 211,888 $ 211,054 Farmland 44,066 45,989 1-4 family residential 275,610 270,583 Multi-family residential 39,548 39,273 Nonfarm nonresidential 550,103 518,660 Commercial 389,855 363,640 Consumer 75,112 79,270 Total loans held for investment 1,586,182 1,528,469 Less: Allowance for loan losses (11,818 ) (11,220 ) Net loans $ 1,574,364 $ 1,517,249 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | March 31, 2019 (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 $ 1,590 $ 104 $ 1,538 $ 236 $ 2,715 $ 4,453 $ 584 $ 11,220 Charge-offs (2 ) (2 ) (10 ) - (10 ) (20 ) (13 ) (57 ) Recoveries - - 7 - - 5 10 22 Provision 12 3 39 (1 ) 144 448 (12 ) 633 Ending Balance $ 1,600 $ 105 $ 1,574 $ 235 $ 2,849 $ 4,886 $ 569 $ 11,818 Ending Balance: Individually evaluated for impairment $ 2 $ 3 $ 143 $ - $ 18 $ 1,115 $ 74 $ 1,355 Collectively evaluated for impairment $ 1,598 $ 102 $ 1,431 $ 235 $ 2,831 $ 3,771 $ 495 $ 10,463 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 211,888 $ 44,066 $ 275,610 $ 39,548 $ 550,103 $ 389,855 $ 75,112 $ 1,586,182 Ending Balance: Individually evaluated for impairment $ 109 $ 202 $ 2,958 $ - $ 4,405 $ 5,865 $ 200 $ 13,739 Collectively evaluated for impairment $ 211,779 $ 43,700 $ 272,557 $ 39,548 $ 538,682 $ 383,280 $ 74,912 $ 1,564,458 Purchased Credit Impaired (1) $ - $ 164 $ 95 $ - $ 7,016 $ 710 $ - $ 7,985 December 31, 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 ) - (294 ) - - - (88 ) (472 ) Recoveries 398 - 18 - 13 28 80 537 Provision (139 ) 28 530 92 379 1,278 222 2,390 Ending Balance $ 1,590 $ 104 $ 1,538 $ 236 $ 2,715 $ 4,453 $ 584 $ 11,220 Ending Balance: Individually evaluated for impairment $ - $ - $ 96 $ - $ 47 $ 1,112 $ 25 $ 1,280 Collectively evaluated for impairment $ 1,590 $ 104 $ 1,442 $ 236 $ 2,668 $ 3,341 $ 559 $ 9,940 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 211,054 $ 45,989 $ 270,583 $ 39,273 $ 518,660 $ 363,640 $ 79,270 $ 1,528,469 Ending Balance: Individually evaluated for impairment $ 32 $ 112 $ 2,728 $ - $ 4,155 $ 5,208 $ 125 $ 12,360 Collectively evaluated for impairment $ 211,022 $ 45,713 $ 267,761 $ 39,273 $ 507,506 $ 354,985 $ 79,145 $ 1,505,405 Purchased Credit Impaired (1) $ - $ 164 $ 94 $ - $ 6,999 $ 3,447 $ - $ 10,704 |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2019 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 208,997 $ 1,568 $ 1,214 $ 109 $ 211,888 Farmland 43,697 152 15 202 44,066 1-4 family residential 264,981 4,956 2,714 2,959 275,610 Multi-family residential 39,513 - 35 - 39,548 Nonfarm nonresidential 526,600 12,604 4,562 6,337 550,103 Commercial 375,412 3,985 7,081 3,377 389,855 Consumer 73,743 1,024 146 199 75,112 Total $ 1,532,943 $ 24,289 $ 15,767 $ 13,183 $ 1,586,182 December 31, 2018 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 209,027 $ 718 $ 1,277 $ 32 $ 211,054 Farmland 45,563 153 161 112 45,989 1-4 family residential 260,325 4,601 2,929 2,728 270,583 Multi-family residential 39,237 - 36 - 39,273 Nonfarm nonresidential 494,698 14,421 3,510 6,031 518,660 Commercial 347,839 5,690 7,448 2,663 363,640 Consumer 77,731 1,180 234 125 79,270 Total $ 1,474,420 $ 26,763 $ 15,595 $ 11,691 $ 1,528,469 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2019 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ 480 $ - $ 30 $ 510 $ 211,378 $ 211,888 $ - Farmland 24 - - 24 44,042 44,066 - 1-4 family residential 1,646 318 1,396 3,360 272,250 275,610 - Multi-family residential 35 - - 35 39,513 39,548 - Nonfarm nonresidential 191 730 5,439 6,360 543,743 550,103 - Commercial 218 96 3,008 3,322 386,533 389,855 72 Consumer 224 32 166 422 74,690 75,112 5 Total $ 2,818 $ 1,176 $ 10,039 $ 14,033 $ 1,572,149 $ 1,586,182 $ 77 December 31, 2018 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ 325 $ 13 $ 89 $ 427 $ 210,627 $ 211,054 $ 60 Farmland - 96 - 96 45,893 45,989 - 1-4 family residential 1,596 588 1,400 3,584 266,999 270,583 270 Multi-family residential 36 - - 36 39,237 39,273 - Nonfarm nonresidential 2,437 - 3,967 6,404 512,256 518,660 450 Commercial 328 287 3,241 3,856 359,784 363,640 1,038 Consumer 237 89 106 432 78,838 79,270 58 Total $ 4,959 $ 1,073 $ 8,803 $ 14,835 $ 1,513,634 $ 1,528,469 $ 1,876 |
Impaired Financing Receivables [Table Text Block] | March 31, 2019 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 2 $ 2 $ 2 $ 2 Farmland 21 22 3 21 1-4 family residential 251 288 143 251 Multi-family residential - - - - Nonfarm nonresidential 559 568 18 559 Other Loans: Commercial 1,886 2,944 1,115 1,886 Consumer 74 76 74 74 Total $ 2,793 $ 3,900 $ 1,355 $ 2,793 With no allowance recorded: Real Estate Loans: Construction and land $ 107 $ 133 $ - $ 94 Farmland 181 265 - 196 1-4 family residential 2,707 4,445 - 2,818 Multi-family residential - - - - Nonfarm nonresidential 3,846 4,043 - 4,321 Other Loans: Commercial 3,979 4,830 - 5,506 Consumer 126 171 - 162 Total $ 10,946 $ 13,887 $ - $ 13,097 Total Impaired Loans: Real Estate Loans: Construction and land $ 109 $ 135 $ 2 $ 96 Farmland 202 287 3 217 1-4 family residential 2,958 4,733 143 3,069 Multi-family residential - - - - Nonfarm nonresidential 4,405 4,611 18 4,880 Other Loans: Commercial 5,865 7,774 1,115 7,392 Consumer 200 247 74 236 Total $ 13,739 $ 17,787 $ 1,355 $ 15,890 December 31, 2018 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ - $ - $ - $ 22 Farmland - - - - 1-4 family residential 363 451 96 303 Multi-family residential - - - - Nonfarm nonresidential 447 501 47 367 Other Loans: Commercial 1,883 2,935 1,112 547 Consumer 25 25 25 2 Total $ 2,718 $ 3,912 $ 1,280 $ 1,241 With no allowance recorded: Real Estate Loans: Construction and land $ 32 $ 56 $ - $ 15 Farmland 112 193 - 9 1-4 family residential 2,365 3,975 - 2,708 Multi-family residential - - - - Nonfarm nonresidential 3,708 3,833 - 5,240 Other Loans: Commercial 3,325 4,198 - 5,350 Consumer 100 144 - 261 Total $ 9,642 $ 12,399 $ - $ 13,583 Total Impaired Loans: Real Estate Loans: Construction and land $ 32 $ 56 $ - $ 37 Farmland 112 193 - 9 1-4 family residential 2,728 4,426 96 3,011 Multi-family residential - - - - Nonfarm nonresidential 4,155 4,334 47 5,607 Other Loans: Commercial 5,208 7,133 1,112 5,897 Consumer 125 169 25 263 Total $ 12,360 $ 16,311 $ 1,280 $ 14,824 |
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, 2017 $ 696 Carrying amount of purchased impaired credits acquired in MBI acquisition 5,798 Carrying amount of purchased impaired credits acquired in RSBI acquisition 4,533 Payments received, net of discounts realized (507 ) Purchased impaired credit participation interest sales proceeds, net of discount realized 210 Charge-offs (26 ) Carrying amount - December 31, 2018 10,704 Payments received, net of discounts realized (2,719 ) Carrying amount - March 31, 2019 $ 7,985 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Modifications as of March 31, 2019: 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 $ - $ - Nonfarm nonresidential 3 2,411 2,300 Other Loans: Commercial 6 5,914 3,433 Total 10 $ 8,325 $ 5,733 Modifications as of December 31, 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 $ - $ - Nonfarm nonresidential 3 2,412 2,308 Other Loans: Commercial 6 5,914 3,512 Total 10 $ 8,326 $ 5,820 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies - (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (Dollars in thousands) April 1, 2019 through March 31, 2020 $ 2,329 April 1, 2020 through March 31, 2021 1,752 April 1, 2021 through March 31, 2022 1,536 April 1, 2022 through March 31, 2023 1,299 April 1, 2023 and Thereafter 6,999 Total Future Minimum Lease Payments $ 13,915 |
Note 8 - Fair Value of Financ_2
Note 8 - Fair Value of Financial Instruments - (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2019 Available for Sale: U.S. Government Agency Securities $ 19,515 $ - $ 19,515 $ - Corporate Securities 12,912 - 12,912 - Mortgage-Backed Securities 166,864 - 166,864 - Municipal Securities 104,831 - 96,792 8,039 Total $ 304,122 $ - $ 296,083 $ 8,039 December 31, 2018 Available for Sale: U.S. Government Agency Securities $ 17,439 $ - $ 17,439 $ - Corporate Securities 12,692 - 12,692 - Mortgage-Backed Securities 165,618 - 165,618 - Municipal Securities 113,767 - 105,383 8,384 Total $ 309,516 $ - $ 301,132 $ 8,384 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2019 Assets: Impaired Loans $ 20,078 $ - $ 20,078 $ - Repossessed Assets 1,694 - 1,694 - Total $ 21,772 $ - $ 21,772 $ - December 31, 2018 Assets: Impaired Loans $ 21,557 $ - $ 21,557 $ - Repossessed Assets 1,920 - 1,920 - Total $ 23,477 $ - $ 23,477 $ - |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2019 Financial Assets: Cash and Short-Term Investments $ 82,699 $ 82,699 $ 82,699 $ - $ - Securities 304,122 304,122 - 296,083 8,039 Mortgage Loans Held for Sale 753 753 - 753 - Loans - Net 1,574,364 1,554,947 - - 1,554,947 Cash Value of BOLI 32,050 32,050 - 32,050 - Other Equity Securities 8,508 8,508 - - 8,508 Total $ 2,002,496 $ 1,983,079 $ 82,699 $ 328,886 $ 1,571,494 Financial Liabilities: Deposits $ 1,744,383 $ 1,736,715 $ - $ - $ 1,736,715 Borrowings 66,070 80,116 - 80,116 - Total $ 1,810,453 $ 1,816,831 $ - $ 80,116 $ 1,736,715 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2018 Financial Assets: Cash and Short-Term Investments $ 137,908 $ 137,908 $ 137,908 $ - $ - Securities 309,516 309,516 - 301,132 8,384 Mortgage Loans Held for Sale 58 58 - 58 - Loans - Net 1,517,249 1,495,454 - - 1,495,454 Cash Value of BOLI 31,882 31,882 - 31,882 - Other Equity Securities 9,282 9,282 - - 9,282 Total $ 2,005,895 $ 1,984,100 $ 137,908 $ 333,072 $ 1,513,120 Financial Liabilities: Deposits $ 1,733,934 $ 1,717,698 $ - $ - $ 1,717,698 Borrowings 92,229 104,930 - 104,930 - Total $ 1,826,163 $ 1,822,628 $ - $ 104,930 $ 1,717,698 |
Note 3 - Mergers and Acquisit_3
Note 3 - Mergers and Acquisitions - (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Nov. 30, 2018 | Jan. 01, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Assets, Total | $ 2,101,400 | $ 2,094,896 | ||||
Loans and Leases Receivable, Net of Deferred Income, Total | 1,586,182 | 1,528,469 | ||||
Deposits, Total | 1,744,383 | 1,733,934 | ||||
Stockholders' Equity Attributable to Parent, Ending Balance | 269,144 | $ 260,058 | $ 179,994 | $ 179,935 | ||
Minden Bancorp [Member] | ||||||
Assets, Total | 317,400 | |||||
Loans and Leases Receivable, Net of Deferred Income, Total | 192,700 | |||||
Deposits, Total | 264,000 | |||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ 30,600 | |||||
Richland State Bancorp [Member] | ||||||
Assets, Total | $ 316,500 | |||||
Loans and Leases Receivable, Net of Deferred Income, Total | 191,000 | |||||
Deposits, Total | 290,000 | |||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ 25,400 | |||||
Banking Branch Acquired from Richland State Bank [Member] | ||||||
Loans and Leases Receivable, Net of Deferred Income, Total | 4,700 | |||||
Deposits, Total | $ 28,300 | |||||
Minden Bancorp [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 56,187 | |||||
Business Acquisition, Price Paid Per Share of Common Stock of Acquired Entity | $ 23.20 | |||||
Richland State Bancorp [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,679,559 | |||||
Business Combination, Consideration Transferred, Total | $ 42,476 |
Note 3 - Mergers and Acquisit_4
Note 3 - Mergers and Acquisitions - Cost and Allocation of Purchase Price (Details) - USD ($) $ / shares in Units, $ in Thousands | Nov. 30, 2018 | Jan. 01, 2018 | Mar. 31, 2019 | Dec. 31, 2018 |
Net Assets Acquired: | ||||
Goodwill Resulting from Merger | $ 49,534 | $ 49,488 | ||
Richland State Bancorp [Member] | ||||
Purchase Price: | ||||
Shares Issued to RSBI Shareholders on December 1, 2018 (in shares) | 1,679,559 | |||
Closing Stock Price on November 30, 2018 (in dollars per share) | $ 25.29 | |||
Total Purchase Price | $ 42,476 | |||
Net Assets Acquired: | ||||
Cash and Cash Equivalents | 40,648 | |||
Securities Available for Sale | 63,823 | |||
Loans and Leases Receivable | 190,964 | |||
Premises and Equipment, Net | 5,282 | |||
Cash Value of Life Insurance | 7,260 | |||
Core Deposit Intangible | 3,947 | |||
Other Assets | 4,527 | |||
Total Assets | 316,451 | |||
Deposits | 289,979 | |||
Other Liabilities | 1,103 | |||
Total Liablilites | 291,082 | |||
Net Assets Acquired | 25,369 | |||
Goodwill Resulting from Merger | $ 17,107 | |||
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 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 | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net Income Available to Common Shares | $ 5,659 | $ 3,108 |
Weighted Average Common Shares Outstanding (in shares) | 13,287,560 | 10,232,933 |
Dilutive Effect of Stock Options and Warrants (in shares) | 365,565 | 345,822 |
Weighted Average Dilutive Common Shares (in shares) | 13,653,125 | 10,578,755 |
Basic Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.43 | $ 0.30 |
Diluted Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.41 | $ 0.29 |
Note 5 - Securities - Securitie
Note 5 - Securities - Securities Available-for-sale (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Amortized cost | $ 304,539 | $ 313,907 |
Gross unrealized gains | 1,903 | 708 |
Gross unrealized losses | 2,320 | 5,099 |
Fair value | 304,122 | 309,516 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 19,352 | 17,529 |
Gross unrealized gains | 200 | 54 |
Gross unrealized losses | 37 | 144 |
Fair value | 19,515 | 17,439 |
Corporate Debt Securities [Member] | ||
Amortized cost | 13,046 | 13,052 |
Gross unrealized gains | 98 | 76 |
Gross unrealized losses | 232 | 436 |
Fair value | 12,912 | 12,692 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized cost | 167,705 | 168,854 |
Gross unrealized gains | 975 | 328 |
Gross unrealized losses | 1,816 | 3,564 |
Fair value | 166,864 | 165,618 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 104,436 | 114,472 |
Gross unrealized gains | 630 | 250 |
Gross unrealized losses | 235 | 955 |
Fair value | $ 104,831 | $ 113,767 |
Note 5 - Securities - Securit_2
Note 5 - Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Less than 12 months, fair value | $ 11,484 | $ 118,916 |
Less than 12 months, gross unrealized losses | 123 | 2,036 |
12 months or greater, fair value | 143,026 | 97,987 |
12 months or greater, gross unrealized losses | 2,197 | 3,063 |
Total, fair value | 154,510 | 216,903 |
Total, gross unrealized losses | 2,320 | 5,099 |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, fair value | 4,399 | |
Less than 12 months, gross unrealized losses | 28 | |
12 months or greater, fair value | 4,347 | 4,610 |
12 months or greater, gross unrealized losses | 37 | 116 |
Total, fair value | 4,347 | 9,009 |
Total, gross unrealized losses | 37 | 144 |
Corporate Debt Securities [Member] | ||
Less than 12 months, fair value | 3,938 | 6,274 |
Less than 12 months, gross unrealized losses | 92 | 260 |
12 months or greater, fair value | 2,360 | 2,324 |
12 months or greater, gross unrealized losses | 140 | 176 |
Total, fair value | 6,298 | 8,598 |
Total, gross unrealized losses | 232 | 436 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 months, fair value | 17 | 67,770 |
Less than 12 months, gross unrealized losses | 1,264 | |
12 months or greater, fair value | 109,574 | 61,271 |
12 months or greater, gross unrealized losses | 1,816 | 2,300 |
Total, fair value | 109,591 | 129,041 |
Total, gross unrealized losses | 1,816 | 3,564 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, fair value | 7,529 | 40,473 |
Less than 12 months, gross unrealized losses | 31 | 484 |
12 months or greater, fair value | 26,745 | 29,782 |
12 months or greater, gross unrealized losses | 204 | 471 |
Total, fair value | 34,274 | 70,255 |
Total, gross unrealized losses | $ 235 | $ 955 |
Note 5 - Securities - Securit_3
Note 5 - Securities - Securities Available-for-sale by Contractual Maturity (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Less Than One Year, Amortized Cost | $ 13,370 |
Less Than One Year, Fair Value | 13,395 |
One to Five Years, Amortized Cost | 67,733 |
One to Five Years, Fair Value | 67,901 |
Over Five to Ten Years, Amortized Cost | 138,146 |
Over Five to Ten Years, Fair Value | 137,588 |
Over Ten Years, Amortized Cost | 85,290 |
Over Ten Years, Fair Value | 85,238 |
Amortized Cost | 304,539 |
Fair Value | $ 304,122 |
Note 6 - Loans and the Allowa_3
Note 6 - Loans and the Allowance for Loan Losses - (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Loans and Leases Receivable, Deferred Income, Total | $ 2,100,000 | $ 1,700,000 | ||||
Loans and Leases Receivable Reclassified from Overdraft | 299,000 | 858,000 | ||||
Loans Receivable, Unpaid Principal Balance | 164,200,000 | 147,000,000 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 7,985,000 | [1] | 10,704,000 | [1] | $ 696,000 | |
Loans and Leases Receivable, Net of Deferred Income, Total | 1,586,182,000 | 1,528,469,000 | ||||
Impaired Financing Receivable, Interest Income, Accrual Method, Total | 69,000 | $ 116,000 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | 0 | 79,000 | ||||
Minden Bancorp and Richland State Bancorp [Member] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 8,000,000 | |||||
Minden Bancorp and Richland State Bancorp [Member] | Performing Financial Instruments [Member] | ||||||
Loans and Leases Receivable, Deferred Income, Total | 2,900,000 | |||||
Loans Receivable, Fair Value Disclosure | 288,200,000 | |||||
Loans and Leases Receivable, Net of Deferred Income, Total | $ 283,100,000 | |||||
American Gateway Financial Corporation [Member] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 10,700,000 | |||||
American Gateway Financial Corporation [Member] | Performing Financial Instruments [Member] | ||||||
Loans and Leases Receivable, Deferred Income, Total | 3,200,000 | |||||
Loans Receivable, Fair Value Disclosure | 334,800,000 | |||||
Loans and Leases Receivable, Net of Deferred Income, Total | $ 327,300,000 | |||||
[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 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loans | $ 1,586,182 | $ 1,528,469 | |
Allowance for loan losses | (11,818) | (11,220) | $ (8,765) |
Net loans | 1,574,364 | 1,517,249 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||
Loans | 211,888 | 211,054 | |
Allowance for loan losses | (1,600) | (1,590) | (1,421) |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans | 44,066 | 45,989 | |
Allowance for loan losses | (105) | (104) | (76) |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Loans | 550,103 | 518,660 | |
Allowance for loan losses | (2,849) | (2,715) | (2,323) |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | |||
Loans | 275,610 | 270,583 | |
Allowance for loan losses | (1,574) | (1,538) | (1,284) |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Loans | 39,548 | 39,273 | |
Allowance for loan losses | (235) | (236) | (144) |
Commercial Portfolio Segment [Member] | |||
Loans | 389,855 | 363,640 | |
Allowance for loan losses | (4,886) | (4,453) | (3,147) |
Consumer Portfolio Segment [Member] | |||
Loans | 75,112 | 79,270 | |
Allowance for loan losses | $ (569) | $ (584) | $ (370) |
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 | 12 Months Ended | |||||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Beginning Balance | $ 11,220 | $ 8,765 | $ 8,765 | ||||
Charge-offs | (57) | (472) | |||||
Recoveries | 22 | 537 | |||||
Provision | 633 | 474 | 2,390 | ||||
Ending Balance | 11,818 | 11,220 | |||||
Allowance for credit losses, individually evaluated for impairment | 1,355 | 1,280 | |||||
Allowance for credit losses, collectively evaluated for impairment | 10,463 | 9,940 | |||||
Allowance for credit losses, purchased credit impaired | [1] | ||||||
Loans receivable | 1,586,182 | 1,528,469 | |||||
Loans receivable, individually evaluated for impairment | 13,739 | 12,360 | |||||
Loans receivable, collectively evaluated for impairment | 1,564,458 | 1,505,405 | |||||
Loans receivable, purchased credit impaired | 7,985 | [1] | 10,704 | [1] | $ 696 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||||||
Beginning Balance | 1,590 | 1,421 | 1,421 | ||||
Charge-offs | (2) | (90) | |||||
Recoveries | 398 | ||||||
Provision | 12 | (139) | |||||
Ending Balance | 1,600 | 1,590 | |||||
Allowance for credit losses, individually evaluated for impairment | 2 | ||||||
Allowance for credit losses, collectively evaluated for impairment | 1,598 | 1,590 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 211,888 | 211,054 | |||||
Loans receivable, individually evaluated for impairment | 109 | 32 | |||||
Loans receivable, collectively evaluated for impairment | 211,779 | 211,022 | |||||
Loans receivable, purchased credit impaired | [1] | ||||||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | |||||||
Beginning Balance | 104 | 76 | 76 | ||||
Charge-offs | (2) | 0 | |||||
Recoveries | 0 | 0 | |||||
Provision | 3 | 28 | |||||
Ending Balance | 105 | 104 | |||||
Allowance for credit losses, individually evaluated for impairment | 3 | 0 | |||||
Allowance for credit losses, collectively evaluated for impairment | 102 | 104 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 44,066 | 45,989 | |||||
Loans receivable, individually evaluated for impairment | 202 | 112 | |||||
Loans receivable, collectively evaluated for impairment | 43,700 | 45,713 | |||||
Loans receivable, purchased credit impaired | [1] | 164 | 164 | ||||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||||||
Beginning Balance | 2,715 | 2,323 | 2,323 | ||||
Charge-offs | (10) | ||||||
Recoveries | 13 | ||||||
Provision | 144 | 379 | |||||
Ending Balance | 2,849 | 2,715 | |||||
Allowance for credit losses, individually evaluated for impairment | 18 | 47 | |||||
Allowance for credit losses, collectively evaluated for impairment | 2,831 | 2,668 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 550,103 | 518,660 | |||||
Loans receivable, individually evaluated for impairment | 4,405 | 4,155 | |||||
Loans receivable, collectively evaluated for impairment | 538,682 | 507,506 | |||||
Loans receivable, purchased credit impaired | [1] | 7,016 | 6,999 | ||||
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | |||||||
Beginning Balance | 1,538 | 1,284 | 1,284 | ||||
Charge-offs | (10) | (294) | |||||
Recoveries | 7 | 18 | |||||
Provision | 39 | 530 | |||||
Ending Balance | 1,574 | 1,538 | |||||
Allowance for credit losses, individually evaluated for impairment | 143 | 96 | |||||
Allowance for credit losses, collectively evaluated for impairment | 1,431 | 1,442 | |||||
Allowance for credit losses, purchased credit impaired | [1] | ||||||
Loans receivable | 275,610 | 270,583 | |||||
Loans receivable, individually evaluated for impairment | 2,958 | 2,728 | |||||
Loans receivable, collectively evaluated for impairment | 272,557 | 267,761 | |||||
Loans receivable, purchased credit impaired | [1] | 95 | 94 | ||||
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | |||||||
Beginning Balance | 236 | 144 | 144 | ||||
Charge-offs | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Provision | (1) | 92 | |||||
Ending Balance | 235 | 236 | |||||
Allowance for credit losses, individually evaluated for impairment | 0 | 0 | |||||
Allowance for credit losses, collectively evaluated for impairment | 235 | 236 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 39,548 | 39,273 | |||||
Loans receivable, individually evaluated for impairment | 0 | 0 | |||||
Loans receivable, collectively evaluated for impairment | 39,548 | 39,273 | |||||
Loans receivable, purchased credit impaired | [1] | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | |||||||
Beginning Balance | 4,453 | 3,147 | 3,147 | ||||
Charge-offs | (20) | ||||||
Recoveries | 5 | 28 | |||||
Provision | 448 | 1,278 | |||||
Ending Balance | 4,886 | 4,453 | |||||
Allowance for credit losses, individually evaluated for impairment | 1,115 | 1,112 | |||||
Allowance for credit losses, collectively evaluated for impairment | 3,771 | 3,341 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 389,855 | 363,640 | |||||
Loans receivable, individually evaluated for impairment | 5,865 | 5,208 | |||||
Loans receivable, collectively evaluated for impairment | 383,280 | 354,985 | |||||
Loans receivable, purchased credit impaired | [1] | 710 | 3,447 | ||||
Consumer Portfolio Segment [Member] | |||||||
Beginning Balance | 584 | $ 370 | 370 | ||||
Charge-offs | (13) | (88) | |||||
Recoveries | 10 | 80 | |||||
Provision | (12) | 222 | |||||
Ending Balance | 569 | 584 | |||||
Allowance for credit losses, individually evaluated for impairment | 74 | 25 | |||||
Allowance for credit losses, collectively evaluated for impairment | 495 | 559 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 75,112 | 79,270 | |||||
Loans receivable, individually evaluated for impairment | 200 | 125 | |||||
Loans receivable, collectively evaluated for impairment | 74,912 | 79,145 | |||||
Loans receivable, purchased credit impaired | [1] | $ 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 | Mar. 31, 2019 | Dec. 31, 2018 |
Loans | $ 1,586,182 | $ 1,528,469 |
Pass [Member] | ||
Loans | 1,532,943 | 1,474,420 |
Special Mention [Member] | ||
Loans | 24,289 | 26,763 |
Substandard [Member] | ||
Loans | 15,767 | 15,595 |
Doubtful [Member] | ||
Loans | 13,183 | 11,691 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Loans | 211,888 | 211,054 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Pass [Member] | ||
Loans | 208,997 | 209,027 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Special Mention [Member] | ||
Loans | 1,568 | 718 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Substandard [Member] | ||
Loans | 1,214 | 1,277 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Doubtful [Member] | ||
Loans | 109 | 32 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Loans | 44,066 | 45,989 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | ||
Loans | 43,697 | 45,563 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | ||
Loans | 152 | 153 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Substandard [Member] | ||
Loans | 15 | 161 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Doubtful [Member] | ||
Loans | 202 | 112 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Loans | 550,103 | 518,660 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Pass [Member] | ||
Loans | 526,600 | 494,698 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Special Mention [Member] | ||
Loans | 12,604 | 14,421 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Substandard [Member] | ||
Loans | 4,562 | 3,510 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Doubtful [Member] | ||
Loans | 6,337 | 6,031 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Loans | 275,610 | 270,583 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Pass [Member] | ||
Loans | 264,981 | 260,325 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Special Mention [Member] | ||
Loans | 4,956 | 4,601 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Substandard [Member] | ||
Loans | 2,714 | 2,929 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Doubtful [Member] | ||
Loans | 2,959 | 2,728 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Loans | 39,548 | 39,273 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Pass [Member] | ||
Loans | 39,513 | 39,237 |
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 | 35 | 36 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans | 389,855 | 363,640 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 375,412 | 347,839 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 3,985 | 5,690 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 7,081 | 7,448 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 3,377 | 2,663 |
Consumer Portfolio Segment [Member] | ||
Loans | 75,112 | 79,270 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 73,743 | 77,731 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 1,024 | 1,180 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 146 | 234 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | $ 199 | $ 125 |
Note 6 - Loans and the Allowa_7
Note 6 - Loans and the Allowance for Loan Losses - Past Due Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Past due | $ 14,033 | $ 14,835 |
Current | 1,572,149 | 1,513,634 |
Loans | 1,586,182 | 1,528,469 |
Recorded investment over 90 days past due and still accruing | 77 | 1,876 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 2,818 | 4,959 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 1,176 | 1,073 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 10,039 | 8,803 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Past due | 510 | 427 |
Current | 211,378 | 210,627 |
Loans | 211,888 | 211,054 |
Recorded investment over 90 days past due and still accruing | 60 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 480 | 325 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 13 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 30 | 89 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Past due | 24 | 96 |
Current | 44,042 | 45,893 |
Loans | 44,066 | 45,989 |
Recorded investment over 90 days past due and still accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 24 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 96 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Past due | 6,360 | 6,404 |
Current | 543,743 | 512,256 |
Loans | 550,103 | 518,660 |
Recorded investment over 90 days past due and still accruing | 450 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 191 | 2,437 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 730 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 5,439 | 3,967 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Past due | 3,360 | 3,584 |
Current | 272,250 | 266,999 |
Loans | 275,610 | 270,583 |
Recorded investment over 90 days past due and still accruing | 270 | |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 1,646 | 1,596 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 318 | 588 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 1,396 | 1,400 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Past due | 35 | 36 |
Current | 39,513 | 39,237 |
Loans | 39,548 | 39,273 |
Recorded investment over 90 days past due and still accruing | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 35 | 36 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Past due | 3,322 | 3,856 |
Current | 386,533 | 359,784 |
Loans | 389,855 | 363,640 |
Recorded investment over 90 days past due and still accruing | 72 | 1,038 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 218 | 328 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 96 | 287 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 3,008 | 3,241 |
Consumer Portfolio Segment [Member] | ||
Past due | 422 | 432 |
Current | 74,690 | 78,838 |
Loans | 75,112 | 79,270 |
Recorded investment over 90 days past due and still accruing | 5 | 58 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 224 | 237 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 32 | 89 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | $ 166 | $ 106 |
Note 6 - Loans and the Allowa_8
Note 6 - Loans and the Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Recorded investment, with an allowance recorded | $ 2,793 | $ 2,718 |
Unpaid principal balance, with an allowance recorded | 3,900 | 3,912 |
Related allowance | 1,355 | 1,280 |
Average recorded investment, with an allowance recorded | 2,793 | 1,241 |
Recorded investment, with no allowance recorded | 10,946 | 9,642 |
Unpaid principal balance, with no allowance recorded | 13,887 | 12,399 |
Average recorded investment, with no allowance recorded | 13,097 | 13,583 |
Recorded investment | 13,739 | 12,360 |
Unpaid principal balance | 17,787 | 16,311 |
Average recorded investment | 15,890 | 14,824 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Recorded investment, with an allowance recorded | 2 | |
Unpaid principal balance, with an allowance recorded | 2 | |
Related allowance | 2 | |
Average recorded investment, with an allowance recorded | 2 | 22 |
Recorded investment, with no allowance recorded | 107 | 32 |
Unpaid principal balance, with no allowance recorded | 133 | 56 |
Average recorded investment, with no allowance recorded | 94 | 15 |
Recorded investment | 109 | 32 |
Unpaid principal balance | 135 | 56 |
Average recorded investment | 96 | 37 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Recorded investment, with an allowance recorded | 21 | 0 |
Unpaid principal balance, with an allowance recorded | 22 | 0 |
Related allowance | 3 | 0 |
Average recorded investment, with an allowance recorded | 21 | 0 |
Recorded investment, with no allowance recorded | 181 | 112 |
Unpaid principal balance, with no allowance recorded | 265 | 193 |
Average recorded investment, with no allowance recorded | 196 | 9 |
Recorded investment | 202 | 112 |
Unpaid principal balance | 287 | 193 |
Average recorded investment | 217 | 9 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Recorded investment, with an allowance recorded | 559 | 447 |
Unpaid principal balance, with an allowance recorded | 568 | 501 |
Related allowance | 18 | 47 |
Average recorded investment, with an allowance recorded | 559 | 367 |
Recorded investment, with no allowance recorded | 3,846 | 3,708 |
Unpaid principal balance, with no allowance recorded | 4,043 | 3,833 |
Average recorded investment, with no allowance recorded | 4,321 | 5,240 |
Recorded investment | 4,405 | 4,155 |
Unpaid principal balance | 4,611 | 4,334 |
Average recorded investment | 4,880 | 5,607 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Recorded investment, with an allowance recorded | 251 | 363 |
Unpaid principal balance, with an allowance recorded | 288 | 451 |
Related allowance | 143 | 96 |
Average recorded investment, with an allowance recorded | 251 | 303 |
Recorded investment, with no allowance recorded | 2,707 | 2,365 |
Unpaid principal balance, with no allowance recorded | 4,445 | 3,975 |
Average recorded investment, with no allowance recorded | 2,818 | 2,708 |
Recorded investment | 2,958 | 2,728 |
Unpaid principal balance | 4,733 | 4,426 |
Average recorded investment | 3,069 | 3,011 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Recorded investment, with an allowance recorded | 0 | 0 |
Unpaid principal balance, with an allowance recorded | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment, with an allowance recorded | 0 | 0 |
Recorded investment, with no allowance recorded | 0 | 0 |
Unpaid principal balance, with no allowance recorded | 0 | 0 |
Average recorded investment, with no allowance recorded | 0 | 0 |
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average recorded investment | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Recorded investment, with an allowance recorded | 1,886 | 1,883 |
Unpaid principal balance, with an allowance recorded | 2,944 | 2,935 |
Related allowance | 1,115 | 1,112 |
Average recorded investment, with an allowance recorded | 1,886 | 547 |
Recorded investment, with no allowance recorded | 3,979 | 3,325 |
Unpaid principal balance, with no allowance recorded | 4,830 | 4,198 |
Average recorded investment, with no allowance recorded | 5,506 | 5,350 |
Recorded investment | 5,865 | 5,208 |
Unpaid principal balance | 7,774 | 7,133 |
Average recorded investment | 7,392 | 5,897 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with an allowance recorded | 74 | 25 |
Unpaid principal balance, with an allowance recorded | 76 | 25 |
Related allowance | 74 | 25 |
Average recorded investment, with an allowance recorded | 74 | 2 |
Recorded investment, with no allowance recorded | 126 | 100 |
Unpaid principal balance, with no allowance recorded | 171 | 144 |
Average recorded investment, with no allowance recorded | 162 | 261 |
Recorded investment | 200 | 125 |
Unpaid principal balance | 247 | 169 |
Average recorded investment | $ 236 | $ 263 |
Note 6 - Loans and the Allowa_9
Note 6 - Loans and the Allowance for Loan Losses - Purchased Impaired Credits (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2018 | |||
Carrying amount, beginning balance | $ 10,704 | [1] | $ 696 | |
Payments received, net of discounts realized | (2,719) | (507) | ||
Purchased impaired credit participation interest sales proceeds, net of discount realized | 210 | |||
Charge-offs | (26) | |||
Carrying amount, ending balance | [1] | $ 7,985 | 10,704 | |
Minden Bancorp [Member] | ||||
Carrying amount of purchased impaired credits acquired in acquisition | 5,798 | |||
Richland State Bancorp [Member] | ||||
Carrying amount of purchased impaired credits acquired in acquisition | $ 4,533 | |||
[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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Number of contracts | 10 | 10 |
Pre-modification outstanding recorded investment | $ 8,325 | $ 8,326 |
Post-modification outstanding recorded investment | $ 5,733 | $ 5,820 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Number of contracts | 1 | 1 |
Pre-modification outstanding recorded investment | ||
Post-modification outstanding recorded investment | ||
Residential Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Number of contracts | 3 | 3 |
Pre-modification outstanding recorded investment | $ 2,411 | $ 2,412 |
Post-modification outstanding recorded investment | $ 2,300 | $ 2,308 |
Commercial Portfolio Segment [Member] | ||
Number of contracts | 6 | |
Pre-modification outstanding recorded investment | $ 5,914 | |
Post-modification outstanding recorded investment | $ 3,433 | |
Consumer Portfolio Segment [Member] | ||
Number of contracts | 6 | |
Pre-modification outstanding recorded investment | $ 5,914 | |
Post-modification outstanding recorded investment | $ 3,512 |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies - (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Operating Lease, Expense | $ 673,000 | $ 579,000 |
Minimum [Member] | ||
Lessee, Operating Lease, Term of Contract | 1 year | |
Maximum [Member] | ||
Lessee, Operating Lease, Term of Contract | 10 years | |
Standby Letters of Credit [Member] | ||
Contractual Obligation, Total | $ 22,700,000 | |
Commitments to Extend Credit [Member] | ||
Contractual Obligation, Total | $ 343,700,000 |
Note 7 - Commitments - Future M
Note 7 - Commitments - Future Minimum Lease Payments Under Leases (Details) $ in Thousands | Mar. 31, 2019USD ($) |
April 1, 2019 through March 31, 2020 | $ 2,329 |
April 1, 2020 through March 31, 2021 | 1,752 |
April 1, 2021 through March 31, 2022 | 1,536 |
April 1, 2022 through March 31, 2023 | 1,299 |
April 1, 2023 and Thereafter | 6,999 |
Total Future Minimum Lease Payments | $ 13,915 |
Note 8 - Fair Value of Financ_3
Note 8 - Fair Value of Financial Instruments - (Details Textual) $ in Thousands | Mar. 31, 2019USD ($) |
Fair Value, Recurring [Member] | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 |
Fair Value, Nonrecurring [Member] | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 |
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 | Mar. 31, 2019 | Dec. 31, 2018 |
Securities available for sale | $ 304,122 | $ 309,516 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 296,083 | 301,132 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 8,039 | 8,384 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 19,515 | 17,439 |
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 | 19,515 | 17,439 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Corporate Debt Securities [Member] | ||
Securities available for sale | 12,912 | 12,692 |
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 | 12,912 | 12,692 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale | 166,864 | 165,618 |
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 | 166,864 | 165,618 |
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 | 104,831 | 113,767 |
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 | 96,792 | 105,383 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | $ 8,039 | $ 8,384 |
Note 8 - Fair Value of Financ_5
Note 8 - Fair Value of Financial Instruments - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets measured on a nonrecurring basis | $ 21,772 | $ 23,477 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 21,772 | 23,477 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | ||
Impaired Loans [Member] | ||
Assets measured on a nonrecurring basis | 20,078 | 21,557 |
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 | 20,078 | 21,557 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | ||
Repossessed Assets [Member] | ||
Assets measured on a nonrecurring basis | 1,694 | 1,920 |
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 | 1,694 | 1,920 |
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 | Mar. 31, 2019 | Dec. 31, 2018 |
Financial Assets: | ||
Securities | $ 304,122 | $ 309,516 |
Other Equity Securities | 8,508 | 9,282 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Securities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Securities | 296,083 | 301,132 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Securities | 8,039 | 8,384 |
Reported Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 82,699 | 137,908 |
Securities | 304,122 | 309,516 |
Mortgage Loans Held for Sale | 753 | 58 |
Loans - Net | 1,574,364 | 1,517,249 |
Cash Value of BOLI | 32,050 | 31,882 |
Other Equity Securities | 8,508 | 9,282 |
Total | 2,002,496 | 2,005,895 |
Financial Liabilities: | ||
Deposits | 1,744,383 | 1,733,934 |
Borrowings | 66,070 | 92,229 |
Total | 1,810,453 | 1,826,163 |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 82,699 | 137,908 |
Securities | 304,122 | 309,516 |
Mortgage Loans Held for Sale | 753 | 58 |
Loans - Net | 1,554,947 | 1,495,454 |
Cash Value of BOLI | 32,050 | 31,882 |
Other Equity Securities | 8,508 | 9,282 |
Total | 1,983,079 | 1,984,100 |
Financial Liabilities: | ||
Deposits | 1,736,715 | 1,717,698 |
Borrowings | 80,116 | 104,930 |
Total | 1,816,831 | 1,822,628 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 82,699 | 137,908 |
Securities | ||
Mortgage Loans Held for Sale | ||
Loans - Net | ||
Cash Value of BOLI | ||
Other Equity Securities | ||
Total | 82,699 | 137,908 |
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 | 296,083 | 301,132 |
Mortgage Loans Held for Sale | 753 | 58 |
Loans - Net | ||
Cash Value of BOLI | 32,050 | 31,882 |
Other Equity Securities | ||
Total | 328,886 | 333,072 |
Financial Liabilities: | ||
Deposits | ||
Borrowings | 80,116 | 104,930 |
Total | 80,116 | 104,930 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | ||
Securities | 8,039 | 8,384 |
Mortgage Loans Held for Sale | ||
Loans - Net | 1,554,947 | 1,495,454 |
Cash Value of BOLI | ||
Other Equity Securities | 8,508 | 9,282 |
Total | 1,571,494 | 1,513,120 |
Financial Liabilities: | ||
Deposits | 1,736,715 | 1,717,698 |
Borrowings | ||
Total | $ 1,736,715 | $ 1,717,698 |
Note 9 - Recently Issued Acco_2
Note 9 - Recently Issued Accounting Pronouncements - (Details Textual) - Accounting Standards Update 2016-02 [Member] $ in Millions | Mar. 31, 2019USD ($) |
Operating Lease, Right-of-Use Asset | $ 11.9 |
Operating Lease, Liability, Total | $ 11.9 |