Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | May 04, 2020 | |
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 | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 13,067,987 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, par value $1.00 per share |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash and Due from Banks | $ 80,109 | $ 89,371 |
Federal Funds Sold | 29,135 | 61,372 |
Securities Available for Sale, at Fair Values | 275,115 | 278,193 |
Mortgage Loans Held for Sale | 868 | 251 |
Loans and Lease Receivable, Net of Allowance for Loan Losses of $13,319 at March 31, 2020 and $12,124 at December 31, 2019 | 1,758,061 | 1,698,141 |
Premises and Equipment, Net | 29,656 | 29,280 |
Accrued Interest Receivable | 7,724 | 8,025 |
Other Equity Securities | 11,721 | 12,565 |
Other Real Estate Owned | 3,281 | 4,036 |
Cash Value of Life Insurance | 32,765 | 32,568 |
Deferred Taxes | 1,800 | 2,145 |
Goodwill | 48,495 | 48,495 |
Core Deposit Intangible | 6,471 | 6,694 |
Other Assets | 2,461 | 2,699 |
Total Assets | 2,287,662 | 2,273,835 |
LIABILITIES | ||
Noninterest Bearing | 417,534 | 398,847 |
Interest Bearing | 1,385,274 | 1,383,163 |
Total Deposits | 1,802,808 | 1,782,010 |
Securities Sold Under Agreements to Repurchase | 14,728 | 67,989 |
Short Term Borrowings | 5,000 | |
Subordinated Debt | 25,000 | 25,000 |
Federal Home Loan Bank Borrowings | 138,000 | 93,000 |
Accrued Interest Payable | 1,573 | 1,533 |
Other Liabilities | 18,523 | 19,206 |
Total Liabilities | 2,005,632 | 1,988,738 |
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; 13,067,987 and 13,279,363 Shares Issued and Outstanding at March 31, 2020 and December 31, 2019, respectively | 13,068 | 13,279 |
Additional Paid-in Capital | 206,966 | 212,505 |
Retained Earnings | 59,859 | 56,700 |
Accumulated Other Comprehensive Income | 2,137 | 2,613 |
Total Shareholders' Equity | 282,030 | 285,097 |
Total Liabilities and Shareholders' Equity | $ 2,287,662 | $ 2,273,835 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Allowance for loan losses | $ 13,319 | $ 12,124 |
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) | 13,067,987 | 13,279,363 |
Common stock, shares outstanding (in shares) | 13,067,987 | 13,279,363 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Interest Income: | ||
Interest and Fees on Loans | $ 24,143 | $ 22,423 |
Interest and Dividends on Securities | 1,731 | 1,874 |
Interest on Federal Funds Sold and Due From Banks | 142 | 290 |
Total Interest Income | 26,016 | 24,587 |
Interest Expense: | ||
Interest on Deposits | 4,686 | 4,757 |
Interest on Borrowings | 1,119 | 710 |
Total Interest Expense | 5,805 | 5,467 |
Net Interest Income | 20,211 | 19,120 |
Provision for Loan Losses | 1,367 | 633 |
Net Interest Income after Provision for Loan Losses | 18,844 | 18,487 |
Other Income: | ||
Service Charges on Deposit Accounts | 931 | 938 |
Gain on Sales of Securities | 25 | |
Other Income | 1,848 | 1,373 |
Total Other Income | 2,804 | 2,311 |
Other Expenses: | ||
Salaries and Employee Benefits | 9,435 | 8,552 |
Occupancy and Equipment Expense | 1,891 | 1,894 |
Other Expenses | 5,317 | 3,344 |
Total Other Expenses | 16,643 | 13,790 |
Income Before Income Taxes | 5,005 | 7,008 |
Provision for Income Taxes | 506 | 1,349 |
Net Income | $ 4,499 | $ 5,659 |
Earnings Per Share: | ||
Basic (in dollars per share) | $ 0.34 | $ 0.43 |
Diluted (in dollars per share) | $ 0.34 | $ 0.41 |
Unaudited Consolidated Statem_2
Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Consolidated Net Income | $ 4,499 | $ 5,659 |
Other Comprehensive Income (Loss): | ||
Unrealized Gain (Loss) on Investment Securities | (627) | 3,973 |
Reclassification Adjustment for Gains included in Net Income | 25 | |
Income Tax Effect | 126 | (834) |
Other Comprehensive Income (Loss) | (476) | 3,139 |
Consolidated Comprehensive Income | $ 4,023 | $ 8,798 |
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, 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 Issuance | 114 | 1,154 | 1,268 | ||
Stock Based Compensation Cost | 44 | 249 | 293 | ||
Surrendered Shares of Stock Based Compensation | (10) | (198) | (208) | ||
Balances at at Dec. 31, 2018 | 13,213 | 212,332 | 37,982 | (3,469) | 260,058 |
Balances at at Mar. 31, 2019 | 13,361 | 213,537 | 42,576 | (330) | 269,144 |
Balances at at Dec. 31, 2019 | 13,279 | 212,505 | 56,700 | 2,613 | 285,097 |
Comprehensive Income: | |||||
Net Income | 4,499 | 4,499 | |||
Other Comprehensive Income (Loss) | (476) | (476) | |||
Cash Dividends Declared | (1,340) | (1,340) | |||
Stock Issuance | 332 | 3,029 | 3,361 | ||
Stock Based Compensation Cost | 65 | 145 | 210 | ||
Surrendered Shares of Stock Based Compensation | (173) | (4,148) | (4,321) | ||
Balances at at Dec. 31, 2019 | 13,279 | 212,505 | 56,700 | 2,613 | 285,097 |
Comprehensive Income: | |||||
Stock Repurchase | (435) | (4,565) | (5,000) | ||
Balances at at Mar. 31, 2020 | $ 13,068 | $ 206,966 | $ 59,859 | $ 2,137 | $ 282,030 |
Unaudited Consolidated Statem_4
Unaudited Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash dividends declared (in dollars per share) | $ 0.10 | $ 0.08 |
Unaudited Consolidated Statem_5
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash Flows From Operating Activities: | ||
Consolidated Net Income | $ 4,499 | $ 5,659 |
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities: | ||
Provision for Loan Losses | 1,367 | 633 |
Depreciation and Amortization | 378 | 398 |
Net Accretion of Purchase Accounting Valuations | (67) | (282) |
Noncash Compensation Expense | 210 | 85 |
Net Amortization of Securities | 379 | 439 |
Gain on Sales of Securities | (25) | |
Loss on Sale of Other Real Estate Owned, Net of Writedowns | 46 | 56 |
Increase in Cash Value of Life Insurance | (197) | (168) |
Provision (Credit) for Deferred Income Taxes | 471 | (63) |
Changes in Assets and Liabilities: | ||
Decrease in Accrued Interest Receivable | 301 | 1,169 |
(Increase) Decrease in Other Assets | 238 | (353) |
Increase in Accrued Interest Payable | 40 | 665 |
Increase (Decrease) in Other Liabilities | (683) | 597 |
Net Cash Provided by Operating Activities | 6,957 | 8,835 |
Cash Flows From Investing Activities: | ||
Purchases of Securities Available for Sale | (21,398) | (9,594) |
Proceeds from Maturities / Sales of Securities Available for Sale | 13,537 | 9,828 |
Proceeds from Paydowns of Securities Available for Sale | 9,983 | 8,694 |
Purchases of Other Equity Securities | (749) | (46) |
Redemption of Other Equity Securities | 1,593 | 820 |
Net Increase in Loans | (61,656) | (58,057) |
Purchases of Premises and Equipment | (754) | (432) |
Proceeds from Sales of Other Real Estate | 751 | 170 |
Net Decrease in Federal Funds Sold | 32,237 | 11,743 |
Net Cash Used in Investing Activities | (26,456) | (36,874) |
Cash Flows From Financing Activities: | ||
Net Increase in Deposits | 20,798 | 10,529 |
Net Decrease in Securities Sold Under Agreements to Repurchase | (53,261) | (1,159) |
Net Advances (Repayments) on Federal Home Loan Bank Borrowings | 45,000 | (25,000) |
Net Proceeds from in Short Term Borrowings | 5,000 | |
Proceeds from Issuance of Common Stock | 3,361 | 392 |
Surrendered Shares of Options Exercised | (4,321) | |
Repurchase of Common Stock | (5,000) | |
Proceeds from Exercise of Stock Warrants | 876 | |
Payment of Dividends on Common Stock | (1,340) | (1,065) |
Net Cash Provided by (Used in) Financing Activities | 10,237 | (15,427) |
Net Decrease in Cash and Cash Equivalents | (9,262) | (43,466) |
Cash and Cash Equivalents at Beginning of Period | 89,371 | 96,072 |
Cash and Cash Equivalents at End of Period | 80,109 | 52,606 |
Supplemental Disclosures for Cash Flow Information: | ||
Interest on Deposits | 4,654 | 4,498 |
Interest on Borrowings | 1,111 | 304 |
Income Tax Payments | ||
Supplemental Schedule for Noncash Investing and Financing Activities: | ||
Change in the Unrealized Gain (Loss) on Securities Available for Sale | (602) | 3,973 |
Change in Deferred Tax Effect on the Unrealized (Gain) Loss on Securities Available for Sale | 126 | (834) |
Transfer of Loans to Other Real Estate | $ 42 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation - | 3 Months Ended |
Mar. 31, 2020 | |
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, b1BANK 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, 2019. COVID- 19, no 19 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, 2020 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | Note 2 Certain reclassifications may 2020. no |
Note 3 - Earnings Per Common Sh
Note 3 - Earnings Per Common Share - | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 3 – Earnings per Common Share – Basic earnings per share (“EPS”) represents income available to common shareholders divided by the weighted average number of common shares outstanding; no may For The Three Months Ended March 31, 2020 2019 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 4,499 $ 5,659 Denominator: Weighted Average Common Shares Outstanding 13,313,154 13,287,560 Dilutive Effect of Stock Options and RSAs 54,122 365,565 Weighted Average Dilutive Common Shares 13,367,276 13,653,125 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.34 $ 0.43 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.34 $ 0.41 |
Note 4 - Securities -
Note 4 - Securities - | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4 – Securities – The amortized cost and fair values of securities available for sale as of March 31, 2020 December 31, 2019 March 31, 2020 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 16,403 $ 365 $ 66 $ 16,702 Corporate Securities 24,767 105 733 24,139 Mortgage-Backed Securities 144,278 4,643 288 148,633 Municipal Securities 86,962 141 1,462 85,641 Total Securities Available for Sale $ 272,410 $ 5,254 $ 2,549 $ 275,115 December 31, 2019 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 15,654 $ 303 $ 20 $ 15,937 Corporate Securities 23,774 98 158 23,714 Mortgage-Backed Securities 137,817 2,139 497 139,459 Municipal Securities 97,641 1,447 5 99,083 Total Securities Available for Sale $ 274,886 $ 3,987 $ 680 $ 278,193 The following tables present a summary of securities with gross unrealized losses and fair values at March 31, 2020 December 31, 2019, March 31, 2020 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 $ 4,956 $ 66 $ - $ - $ 4,956 $ 66 Corporate Securities 7,557 207 1,974 526 9,531 733 Mortgage-Backed Securities 8,167 234 4,844 54 13,011 288 Municipal Securities 63,323 1,456 630 6 63,953 1,462 Total Securities Available for Sale $ 84,003 $ 1,963 $ 7,448 $ 586 $ 91,451 $ 2,549 December 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 $ 2,486 $ 20 $ - $ - $ 2,486 $ 20 Corporate Securities - - 6,360 158 6,360 158 Mortgage-Backed Securities 950 4 44,366 493 45,316 497 Municipal Securities 948 4 1,261 1 2,209 5 Total Securities Available for Sale $ 4,384 $ 28 $ 51,987 $ 652 $ 56,371 $ 680 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, 2020 may may Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 23,463 $ 23,381 One to Five Years 45,245 45,152 Over Five to Ten Years 132,248 132,951 Over Ten Years 71,454 73,631 Total Securities Available for Sale $ 272,410 $ 275,115 |
Note 5 - Loans and the Allowanc
Note 5 - Loans and the Allowance for Loan Losses - | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 5 – Loans and the Allowance for Loan Losses – Loans receivable at March 31, 2020 December 31, 2019 March 31, December 31, 2020 2019 (Dollars in thousands) Real estate loans: Construction and land $ 260,836 $ 244,181 Farmland 53,900 48,681 1-4 family residential 295,876 293,142 Multi-family residential 32,859 36,454 Nonfarm nonresidential 623,114 612,608 Commercial 431,992 390,398 Consumer 72,803 84,801 Total loans held for investment 1,771,380 1,710,265 Less: Allowance for loan losses (13,319 ) (12,124 ) Net loans $ 1,758,061 $ 1,698,141 The performing 1 4 March 31, 2020 December 31, 2019. Net deferred loan origination fees were $3.2 $3.0 March 31, 2020 December 31, 2019, March 31, 2020 December 31, 2019, $884,000 $276,000, The Bank is the lead lender on participations sold, without recourse, to other financial institutions which amounts are not $139.9 $129.7 March 31, 2020 December 31, 2019, 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 Total loans held for investment at March 31, 2020 $151.6 March 31, 2020 310 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality 310 30” $5.2 not 310 30 $148.3 $1.9 Total loans held for investment at December 31, 2019 $180.0 December 31, 2019 310 30 $5.0 not 310 30 $177.1 $2.0 The following tables set forth, as of March 31, 2020 December 31, 2019, not not Allowance for Credit Losses and Recorded Investment in Loans Receivable March 31, 2020 (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 $ 1,868 $ 229 $ 1,888 $ 226 $ 3,882 $ 3,414 $ 617 $ 12,124 Charge-offs - (2 ) (25 ) - - (164 ) (3 ) (194 ) Recoveries - - 2 - 1 15 4 22 Provision 240 80 225 (13 ) 265 518 52 1,367 Ending Balance $ 2,108 $ 307 $ 2,090 $ 213 $ 4,148 $ 3,783 $ 670 $ 13,319 Ending Balance: Individually evaluated for impairment $ - $ 3 $ 49 $ - $ 40 $ 440 $ 61 $ 593 Collectively evaluated for impairment $ 2,108 $ 304 $ 2,041 $ 213 $ 4,108 $ 3,343 $ 609 $ 12,726 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 260,836 $ 53,900 $ 295,876 $ 32,859 $ 623,114 $ 431,992 $ 72,803 $ 1,771,380 Ending Balance: Individually evaluated for impairment $ 395 $ 236 $ 3,047 $ - $ 4,013 $ 3,991 $ 423 $ 12,105 Collectively evaluated for impairment $ 260,441 $ 53,529 $ 292,769 $ 32,859 $ 614,276 $ 427,833 $ 72,380 $ 1,754,087 Purchased Credit Impaired (1) $ - $ 135 $ 60 $ - $ 4,825 $ 168 $ - $ 5,188 ( 1 December 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 ) (162 ) - (51 ) (1,556 ) (52 ) (1,825 ) Recoveries - - 14 - 4 41 64 123 Provision 280 127 498 (10 ) 1,214 476 21 2,606 Ending Balance $ 1,868 $ 229 $ 1,888 $ 226 $ 3,882 $ 3,414 $ 617 $ 12,124 Ending Balance: Individually evaluated for impairment $ - $ 4 $ 30 $ - $ 52 $ 421 $ 49 $ 556 Collectively evaluated for impairment $ 1,868 $ 225 $ 1,858 $ 226 $ 3,830 $ 2,993 $ 568 $ 11,568 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 244,181 $ 48,681 $ 293,142 $ 36,454 $ 612,608 $ 390,398 $ 84,801 $ 1,710,265 Ending Balance: Individually evaluated for impairment $ 397 $ 222 $ 2,531 $ - $ 4,101 $ 4,175 $ 421 $ 11,847 Collectively evaluated for impairment $ 243,784 $ 48,324 $ 290,549 $ 36,454 $ 603,891 $ 386,027 $ 84,380 $ 1,693,409 Purchased Credit Impaired (1) $ - $ 135 $ 62 $ - $ 4,616 $ 196 $ - $ 5,009 ( 1 Portfolio Segment Risk Factors Construction and land include loans to small-to-midsized businesses to construct owner-user properties, loans to developers of commercial real estate investment properties and residential developments and, to a lesser extent, loans to individual clients for construction of single-family homes in our market areas. Risks associated with these loans include fluctuations in the value of real estate, project completion risk and change in market trends. We are also exposed to risk based on the ability of the construction loan borrower to finance the loan or sell the property upon completion of the project, which may Farmland loans are often for investments related to agricultural businesses and may One to four first second one four Multifamily residential loans are generally originated to provide permanent financing for multifamily residential income producing properties. Repayment of these loans primarily relies on successful rental and management of the property. Nonfarm nonresidential loans are extensions of credit secured by owner occupied and non-owner occupied collateral. Repayment is generally relied upon from the successful operations of the property. General economic conditions may Commercial loans include general commercial and industrial, or C&I, loans, including commercial lines of credit, working capital loans, term loans, equipment financing, asset acquisition, expansion and development loans, borrowing base loans, letters of credit and other loan products, primarily in our target markets that are underwritten on the basis of the borrower’s ability to service the debt from income. Commercial loan risk is derived from the expectation that such loans generally are serviced principally from the operations of the business, and those operations may not may not Consumer loans include a variety of loans to individuals for personal, family and household purposes, including secured and unsecured installment and term loans. The risk is based on changes in the borrower’s financial condition, which could be affected by numerous factors, including divorce, job loss, illness or other personal hardship, and fluctuations in the value of the real estate or personal property securing the consumer loan, if any. 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, 2020 December 31, 2019, Credit Quality Indicators March 31, 2020 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 258,126 $ 757 $ 1,558 $ 395 $ 260,836 Farmland 51,832 1,718 13 337 53,900 1-4 family residential 286,995 2,982 3,032 2,867 295,876 Multi-family residential 32,828 - 31 - 32,859 Nonfarm nonresidential 605,090 11,134 3,308 3,582 623,114 Commercial 413,869 11,192 5,226 1,705 431,992 Consumer 70,546 1,674 168 415 72,803 Total $ 1,719,286 $ 29,457 $ 13,336 $ 9,301 $ 1,771,380 December 31, 2019 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 241,519 $ 1,141 $ 1,124 $ 397 $ 244,181 Farmland 46,591 1,737 14 339 48,681 1-4 family residential 284,381 3,175 3,237 2,349 293,142 Multi-family residential 36,422 - 32 - 36,454 Nonfarm nonresidential 594,046 11,077 3,830 3,655 612,608 Commercial 374,500 9,219 4,854 1,825 390,398 Consumer 82,726 1,538 125 412 84,801 Total $ 1,660,185 $ 27,887 $ 13,216 $ 8,977 $ 1,710,265 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, 2020 December 31, 2019. 90 A ged Analysis of Past Due Loans Receivable March 31, 2020 (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 $ 458 $ - $ 844 $ 1,302 $ 259,534 $ 260,836 $ 465 Farmland 230 101 160 491 53,409 53,900 - 1-4 family residential 2,454 948 1,892 5,294 290,582 295,876 180 Multi-family residential 31 - - 31 32,828 32,859 - Nonfarm nonresidential 2,993 63 1,496 4,552 618,562 623,114 - Commercial 1,817 122 1,333 3,272 428,720 431,992 71 Consumer 366 55 489 910 71,893 72,803 118 Total $ 8,349 $ 1,289 $ 6,214 $ 15,852 $ 1,755,528 $ 1,771,380 $ 834 December 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 $ 483 $ 17 $ 379 $ 879 $ 243,302 $ 244,181 $ - Farmland 18 16 143 177 48,504 48,681 - 1-4 family residential 1,245 975 1,000 3,220 289,922 293,142 29 Multi-family residential 32 - - 32 36,422 36,454 - Nonfarm nonresidential 181 610 1,529 2,320 610,288 612,608 - Commercial 126 142 1,311 1,579 388,819 390,398 - Consumer 143 34 405 582 84,219 84,801 43 Total $ 2,228 $ 1,794 $ 4,767 $ 8,789 $ 1,701,476 $ 1,710,265 $ 72 The following is a summary of information pertaining to impaired loans as of March 31, 2020 December 31, 2019. $56,000 $69,000 three March 31, 2020 2019, March 31, 2020 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ - $ - $ - $ - Farmland 19 21 3 19 1-4 family residential 249 268 49 202 Multi-family residential - - - - Nonfarm nonresidential 525 543 40 588 Other Loans: Commercial 896 977 440 901 Consumer 146 149 61 151 Total $ 1,835 $ 1,958 $ 593 $ 1,861 With no allowance recorded: Real Estate Loans: Construction and land $ 395 $ 419 $ - $ 396 Farmland 217 223 - 217 1-4 family residential 2,798 3,442 - 2,750 Multi-family residential - - - - Nonfarm nonresidential 3,488 3,828 - 3,447 Other Loans: Commercial 3,095 3,948 - 3,128 Consumer 277 307 - 287 Total $ 10,270 $ 12,167 $ - $ 10,225 Total Impaired Loans: Real Estate Loans: Construction and land $ 395 $ 419 $ - $ 396 Farmland 236 244 3 236 1-4 family residential 3,047 3,710 49 2,952 Multi-family residential - - - - Nonfarm nonresidential 4,013 4,371 40 4,035 Other Loans: Commercial 3,991 4,925 440 4,029 Consumer 423 456 61 438 Total $ 12,105 $ 14,125 $ 593 $ 12,086 December 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 $ - $ - $ - $ 1 Farmland 20 21 4 21 1-4 family residential 136 167 30 163 Multi-family residential - - - - Nonfarm nonresidential 721 738 52 601 Other Loans: Commercial 851 926 421 1,053 Consumer 120 123 49 116 Total $ 1,848 $ 1,975 $ 556 $ 1,955 With no allowance recorded: Real Estate Loans: Construction and land $ 397 $ 420 $ - $ 184 Farmland 202 207 - 177 1-4 family residential 2,395 3,041 - 2,531 Multi-family residential - - - - Nonfarm nonresidential 3,381 3,693 - 3,644 Other Loans: Commercial 3,323 4,173 - 4,157 Consumer 301 358 - 192 Total $ 9,999 $ 11,892 $ - $ 10,885 Total Impaired Loans: Real Estate Loans: Construction and land $ 397 $ 420 $ - $ 185 Farmland 222 228 4 198 1-4 family residential 2,531 3,208 30 2,694 Multi-family residential - - - - Nonfarm nonresidential 4,102 4,431 52 4,245 Other Loans: Commercial 4,174 5,099 421 5,210 Consumer 421 481 49 308 Total $ 11,847 $ 13,867 $ 556 $ 12,840 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, 2018 $ 10,704 Payments received, net of discounts realized (5,695 ) Carrying amount - December 31, 2019 5,009 Advances on purchased impaired credit 250 Payments received, net of discounts realized (71 ) Carrying amount - March 31, 2020 $ 5,188 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, 2020 December 31, 2019, 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 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, 2020 December 31, 2019. no three March 31, 2020 December 31, 2019, Modifications as of March 31, 2020: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructuring Real Estate Loans: 1-4 family residential 3 $ 235 $ 218 Nonfarm nonresidential 3 2,411 1,996 Other Loans: Commercial 7 5,927 2,694 Consumer 1 11 7 Total 14 $ 8,584 $ 4,915 Modifications as of December 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 3 $ 235 $ 219 Nonfarm nonresidential 3 2,411 2,044 Other Loans: Commercial 6 5,914 2,755 Consumer 1 11 9 Total 13 $ 8,571 $ 5,027 For the quarter ended March 31, 2020, 150 $83.0 19 not |
Note 6 - Leases -
Note 6 - Leases - | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 6 The Bank leases certain branch offices through non-cancelable operating leases with terms that range from one ten $693,000 $673,000 three March 31, 2020 2019, March 31, 2020, 8.1 3.10%. Future minimum lease payments under these leases are as follows: (Dollars in thousands) April 1, 2020 through March 31, 2021 $ 1,650 April 1, 2021 through March 31, 2022 1,990 April 1, 2022 through March 31, 2023 1,809 April 1, 2023 through March 31, 2024 1,701 April 1, 2024 and Thereafter 7,341 Total Future Minimum Lease Payments 14,491 Less Imputed Interest (1,700 ) Present Value of Lease Liabilities $ 12,791 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies - | 3 Months Ended |
Mar. 31, 2020 | |
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 $400.3 $23.2 March 31, 2020. 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, 2020 | |
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 fair values of mortgage loans held for sale are based on commitments on hand from investors within the secondary market for loans with similar characteristics. The following tables present the balance of assets and liabilities measured on a recurring basis as of March 31, 2020 December 31, 2019. not Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2020 Available for Sale: U.S. Government Agency Securities $ 16,702 $ - $ 16,702 $ - Corporate Securities 24,139 - 24,139 - Mortgage-Backed Securities 148,633 - 148,633 - Municipal Securities 85,641 - 79,421 6,220 Mortgage Loans Held for Sale 868 - 868 - Total $ 275,983 $ - $ 269,763 $ 6,220 December 31, 2019 Available for Sale: U.S. Government Agency Securities $ 15,937 $ - $ 15,937 $ - Corporate Securities 23,714 - 23,714 - Mortgage-Backed Securities 139,459 - 139,459 - Municipal Securities 99,083 - 92,496 6,587 Mortgage Loans Held for Sale 251 - 251 - Total $ 278,444 $ - $ 271,857 $ 6,587 Nonrecurring Basis The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. The Company did not The fair value of the impaired loans is measured at the fair value of the collateral for collateral-dependent loans. Impaired loans are Level 2 2. Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2020 Assets: Impaired Loans $ 16,288 $ - $ 16,288 $ - Repossessed Assets 3,292 - 3,292 - Total $ 19,580 $ - $ 19,580 $ - December 31, 2019 Assets: Impaired Loans $ 15,876 $ - $ 15,876 $ - Repossessed Assets 4,196 - 4,196 - Total $ 20,072 $ - $ 20,072 $ - Fa ir 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 exit price 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, 2020 December 31, 2019 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2020 Financial Assets: Cash and Short-Term Investments $ 109,244 $ 109,244 $ 109,244 $ - $ - Securities 275,115 275,115 - 268,895 6,220 Mortgage Loans Held for Sale 868 868 - 868 - Loans - Net 1,758,061 1,728,314 - - 1,728,314 Cash Value of BOLI 32,765 32,765 - 32,765 - Other Equity Securities 11,721 11,821 - - 11,821 Total $ 2,187,774 $ 2,158,127 $ 109,244 $ 302,528 $ 1,746,355 Financial Liabilities: Deposits $ 1,802,808 $ 1,810,716 $ - $ - $ 1,810,716 Borrowings 182,728 206,977 - 206,977 - Total $ 1,985,536 $ 2,017,693 $ - $ 206,977 $ 1,810,716 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2019 Financial Assets: Cash and Short-Term Investments $ 150,743 $ 150,743 $ 150,743 $ - $ - Securities 278,193 278,193 - 271,606 6,587 Mortgage Loans Held for Sale 251 251 - 251 - Loans - Net 1,698,141 1,696,470 - - 1,696,470 Cash Value of BOLI 32,568 32,568 - 32,568 - Other Equity Securities 12,565 12,565 - - 12,565 Total $ 2,172,461 $ 2,170,790 $ 150,743 $ 304,425 $ 1,715,622 Financial Liabilities: Deposits $ 1,782,010 $ 1,782,692 $ - $ - $ 1,782,692 Borrowings 185,989 202,863 - 202,863 - Total $ 1,967,999 $ 1,985,555 $ - $ 202,863 $ 1,782,692 |
Note 9 - Subsequent Events -
Note 9 - Subsequent Events - | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 9 – Subsequent Events – On May 1, 2020, January 22, 2020, May 1, 2020, b1BANK. 7,614,506 March 31, 2020, $1.3 $848.6 $1.0 |
Note 10 - Recently Issued Accou
Note 10 - Recently Issued Accounting Pronouncements - | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | N ote 10 – Recently Issued Accounting Pronouncements – Accounting Standards Adopted in Current Period None Accounting Standards Not In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326 not may first October 18, 2019, January 2023. may On January 26, 2017, 2017 04, Intangibles – Goodwill and Other (Topic 350 2 not one zero zero 2020 January 1, 2017. 19 may |
Note 3 - Earnings Per Common _2
Note 3 - Earnings Per Common Share - (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For The Three Months Ended March 31, 2020 2019 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 4,499 $ 5,659 Denominator: Weighted Average Common Shares Outstanding 13,313,154 13,287,560 Dilutive Effect of Stock Options and RSAs 54,122 365,565 Weighted Average Dilutive Common Shares 13,367,276 13,653,125 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.34 $ 0.43 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.34 $ 0.41 |
Note 4 - Securities - (Tables)
Note 4 - Securities - (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | March 31, 2020 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 16,403 $ 365 $ 66 $ 16,702 Corporate Securities 24,767 105 733 24,139 Mortgage-Backed Securities 144,278 4,643 288 148,633 Municipal Securities 86,962 141 1,462 85,641 Total Securities Available for Sale $ 272,410 $ 5,254 $ 2,549 $ 275,115 December 31, 2019 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 15,654 $ 303 $ 20 $ 15,937 Corporate Securities 23,774 98 158 23,714 Mortgage-Backed Securities 137,817 2,139 497 139,459 Municipal Securities 97,641 1,447 5 99,083 Total Securities Available for Sale $ 274,886 $ 3,987 $ 680 $ 278,193 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | March 31, 2020 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 $ 4,956 $ 66 $ - $ - $ 4,956 $ 66 Corporate Securities 7,557 207 1,974 526 9,531 733 Mortgage-Backed Securities 8,167 234 4,844 54 13,011 288 Municipal Securities 63,323 1,456 630 6 63,953 1,462 Total Securities Available for Sale $ 84,003 $ 1,963 $ 7,448 $ 586 $ 91,451 $ 2,549 December 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 $ 2,486 $ 20 $ - $ - $ 2,486 $ 20 Corporate Securities - - 6,360 158 6,360 158 Mortgage-Backed Securities 950 4 44,366 493 45,316 497 Municipal Securities 948 4 1,261 1 2,209 5 Total Securities Available for Sale $ 4,384 $ 28 $ 51,987 $ 652 $ 56,371 $ 680 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 23,463 $ 23,381 One to Five Years 45,245 45,152 Over Five to Ten Years 132,248 132,951 Over Ten Years 71,454 73,631 Total Securities Available for Sale $ 272,410 $ 275,115 |
Note 5 - Loans and the Allowa_2
Note 5 - Loans and the Allowance for Loan Losses - (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2020 2019 (Dollars in thousands) Real estate loans: Construction and land $ 260,836 $ 244,181 Farmland 53,900 48,681 1-4 family residential 295,876 293,142 Multi-family residential 32,859 36,454 Nonfarm nonresidential 623,114 612,608 Commercial 431,992 390,398 Consumer 72,803 84,801 Total loans held for investment 1,771,380 1,710,265 Less: Allowance for loan losses (13,319 ) (12,124 ) Net loans $ 1,758,061 $ 1,698,141 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | March 31, 2020 (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 $ 1,868 $ 229 $ 1,888 $ 226 $ 3,882 $ 3,414 $ 617 $ 12,124 Charge-offs - (2 ) (25 ) - - (164 ) (3 ) (194 ) Recoveries - - 2 - 1 15 4 22 Provision 240 80 225 (13 ) 265 518 52 1,367 Ending Balance $ 2,108 $ 307 $ 2,090 $ 213 $ 4,148 $ 3,783 $ 670 $ 13,319 Ending Balance: Individually evaluated for impairment $ - $ 3 $ 49 $ - $ 40 $ 440 $ 61 $ 593 Collectively evaluated for impairment $ 2,108 $ 304 $ 2,041 $ 213 $ 4,108 $ 3,343 $ 609 $ 12,726 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 260,836 $ 53,900 $ 295,876 $ 32,859 $ 623,114 $ 431,992 $ 72,803 $ 1,771,380 Ending Balance: Individually evaluated for impairment $ 395 $ 236 $ 3,047 $ - $ 4,013 $ 3,991 $ 423 $ 12,105 Collectively evaluated for impairment $ 260,441 $ 53,529 $ 292,769 $ 32,859 $ 614,276 $ 427,833 $ 72,380 $ 1,754,087 Purchased Credit Impaired (1) $ - $ 135 $ 60 $ - $ 4,825 $ 168 $ - $ 5,188 December 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 ) (162 ) - (51 ) (1,556 ) (52 ) (1,825 ) Recoveries - - 14 - 4 41 64 123 Provision 280 127 498 (10 ) 1,214 476 21 2,606 Ending Balance $ 1,868 $ 229 $ 1,888 $ 226 $ 3,882 $ 3,414 $ 617 $ 12,124 Ending Balance: Individually evaluated for impairment $ - $ 4 $ 30 $ - $ 52 $ 421 $ 49 $ 556 Collectively evaluated for impairment $ 1,868 $ 225 $ 1,858 $ 226 $ 3,830 $ 2,993 $ 568 $ 11,568 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 244,181 $ 48,681 $ 293,142 $ 36,454 $ 612,608 $ 390,398 $ 84,801 $ 1,710,265 Ending Balance: Individually evaluated for impairment $ 397 $ 222 $ 2,531 $ - $ 4,101 $ 4,175 $ 421 $ 11,847 Collectively evaluated for impairment $ 243,784 $ 48,324 $ 290,549 $ 36,454 $ 603,891 $ 386,027 $ 84,380 $ 1,693,409 Purchased Credit Impaired (1) $ - $ 135 $ 62 $ - $ 4,616 $ 196 $ - $ 5,009 |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2020 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 258,126 $ 757 $ 1,558 $ 395 $ 260,836 Farmland 51,832 1,718 13 337 53,900 1-4 family residential 286,995 2,982 3,032 2,867 295,876 Multi-family residential 32,828 - 31 - 32,859 Nonfarm nonresidential 605,090 11,134 3,308 3,582 623,114 Commercial 413,869 11,192 5,226 1,705 431,992 Consumer 70,546 1,674 168 415 72,803 Total $ 1,719,286 $ 29,457 $ 13,336 $ 9,301 $ 1,771,380 December 31, 2019 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 241,519 $ 1,141 $ 1,124 $ 397 $ 244,181 Farmland 46,591 1,737 14 339 48,681 1-4 family residential 284,381 3,175 3,237 2,349 293,142 Multi-family residential 36,422 - 32 - 36,454 Nonfarm nonresidential 594,046 11,077 3,830 3,655 612,608 Commercial 374,500 9,219 4,854 1,825 390,398 Consumer 82,726 1,538 125 412 84,801 Total $ 1,660,185 $ 27,887 $ 13,216 $ 8,977 $ 1,710,265 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2020 (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 $ 458 $ - $ 844 $ 1,302 $ 259,534 $ 260,836 $ 465 Farmland 230 101 160 491 53,409 53,900 - 1-4 family residential 2,454 948 1,892 5,294 290,582 295,876 180 Multi-family residential 31 - - 31 32,828 32,859 - Nonfarm nonresidential 2,993 63 1,496 4,552 618,562 623,114 - Commercial 1,817 122 1,333 3,272 428,720 431,992 71 Consumer 366 55 489 910 71,893 72,803 118 Total $ 8,349 $ 1,289 $ 6,214 $ 15,852 $ 1,755,528 $ 1,771,380 $ 834 December 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 $ 483 $ 17 $ 379 $ 879 $ 243,302 $ 244,181 $ - Farmland 18 16 143 177 48,504 48,681 - 1-4 family residential 1,245 975 1,000 3,220 289,922 293,142 29 Multi-family residential 32 - - 32 36,422 36,454 - Nonfarm nonresidential 181 610 1,529 2,320 610,288 612,608 - Commercial 126 142 1,311 1,579 388,819 390,398 - Consumer 143 34 405 582 84,219 84,801 43 Total $ 2,228 $ 1,794 $ 4,767 $ 8,789 $ 1,701,476 $ 1,710,265 $ 72 |
Impaired Financing Receivables [Table Text Block] | March 31, 2020 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ - $ - $ - $ - Farmland 19 21 3 19 1-4 family residential 249 268 49 202 Multi-family residential - - - - Nonfarm nonresidential 525 543 40 588 Other Loans: Commercial 896 977 440 901 Consumer 146 149 61 151 Total $ 1,835 $ 1,958 $ 593 $ 1,861 With no allowance recorded: Real Estate Loans: Construction and land $ 395 $ 419 $ - $ 396 Farmland 217 223 - 217 1-4 family residential 2,798 3,442 - 2,750 Multi-family residential - - - - Nonfarm nonresidential 3,488 3,828 - 3,447 Other Loans: Commercial 3,095 3,948 - 3,128 Consumer 277 307 - 287 Total $ 10,270 $ 12,167 $ - $ 10,225 Total Impaired Loans: Real Estate Loans: Construction and land $ 395 $ 419 $ - $ 396 Farmland 236 244 3 236 1-4 family residential 3,047 3,710 49 2,952 Multi-family residential - - - - Nonfarm nonresidential 4,013 4,371 40 4,035 Other Loans: Commercial 3,991 4,925 440 4,029 Consumer 423 456 61 438 Total $ 12,105 $ 14,125 $ 593 $ 12,086 December 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 $ - $ - $ - $ 1 Farmland 20 21 4 21 1-4 family residential 136 167 30 163 Multi-family residential - - - - Nonfarm nonresidential 721 738 52 601 Other Loans: Commercial 851 926 421 1,053 Consumer 120 123 49 116 Total $ 1,848 $ 1,975 $ 556 $ 1,955 With no allowance recorded: Real Estate Loans: Construction and land $ 397 $ 420 $ - $ 184 Farmland 202 207 - 177 1-4 family residential 2,395 3,041 - 2,531 Multi-family residential - - - - Nonfarm nonresidential 3,381 3,693 - 3,644 Other Loans: Commercial 3,323 4,173 - 4,157 Consumer 301 358 - 192 Total $ 9,999 $ 11,892 $ - $ 10,885 Total Impaired Loans: Real Estate Loans: Construction and land $ 397 $ 420 $ - $ 185 Farmland 222 228 4 198 1-4 family residential 2,531 3,208 30 2,694 Multi-family residential - - - - Nonfarm nonresidential 4,102 4,431 52 4,245 Other Loans: Commercial 4,174 5,099 421 5,210 Consumer 421 481 49 308 Total $ 11,847 $ 13,867 $ 556 $ 12,840 |
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, 2018 $ 10,704 Payments received, net of discounts realized (5,695 ) Carrying amount - December 31, 2019 5,009 Advances on purchased impaired credit 250 Payments received, net of discounts realized (71 ) Carrying amount - March 31, 2020 $ 5,188 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Modifications as of March 31, 2020: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructuring Real Estate Loans: 1-4 family residential 3 $ 235 $ 218 Nonfarm nonresidential 3 2,411 1,996 Other Loans: Commercial 7 5,927 2,694 Consumer 1 11 7 Total 14 $ 8,584 $ 4,915 Modifications as of December 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 3 $ 235 $ 219 Nonfarm nonresidential 3 2,411 2,044 Other Loans: Commercial 6 5,914 2,755 Consumer 1 11 9 Total 13 $ 8,571 $ 5,027 |
Note 6 - Leases - (Tables)
Note 6 - Leases - (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Future minimum lease payments under these leases are as follows: (Dollars in thousands) April 1, 2020 through March 31, 2021 $ 1,650 April 1, 2021 through March 31, 2022 1,990 April 1, 2022 through March 31, 2023 1,809 April 1, 2023 through March 31, 2024 1,701 April 1, 2024 and Thereafter 7,341 Total Future Minimum Lease Payments 14,491 Less Imputed Interest (1,700 ) Present Value of Lease Liabilities $ 12,791 |
Note 8 - Fair Value of Financ_2
Note 8 - Fair Value of Financial Instruments - (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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, 2020 Available for Sale: U.S. Government Agency Securities $ 16,702 $ - $ 16,702 $ - Corporate Securities 24,139 - 24,139 - Mortgage-Backed Securities 148,633 - 148,633 - Municipal Securities 85,641 - 79,421 6,220 Mortgage Loans Held for Sale 868 - 868 - Total $ 275,983 $ - $ 269,763 $ 6,220 December 31, 2019 Available for Sale: U.S. Government Agency Securities $ 15,937 $ - $ 15,937 $ - Corporate Securities 23,714 - 23,714 - Mortgage-Backed Securities 139,459 - 139,459 - Municipal Securities 99,083 - 92,496 6,587 Mortgage Loans Held for Sale 251 - 251 - Total $ 278,444 $ - $ 271,857 $ 6,587 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2020 Assets: Impaired Loans $ 16,288 $ - $ 16,288 $ - Repossessed Assets 3,292 - 3,292 - Total $ 19,580 $ - $ 19,580 $ - December 31, 2019 Assets: Impaired Loans $ 15,876 $ - $ 15,876 $ - Repossessed Assets 4,196 - 4,196 - Total $ 20,072 $ - $ 20,072 $ - |
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, 2020 Financial Assets: Cash and Short-Term Investments $ 109,244 $ 109,244 $ 109,244 $ - $ - Securities 275,115 275,115 - 268,895 6,220 Mortgage Loans Held for Sale 868 868 - 868 - Loans - Net 1,758,061 1,728,314 - - 1,728,314 Cash Value of BOLI 32,765 32,765 - 32,765 - Other Equity Securities 11,721 11,821 - - 11,821 Total $ 2,187,774 $ 2,158,127 $ 109,244 $ 302,528 $ 1,746,355 Financial Liabilities: Deposits $ 1,802,808 $ 1,810,716 $ - $ - $ 1,810,716 Borrowings 182,728 206,977 - 206,977 - Total $ 1,985,536 $ 2,017,693 $ - $ 206,977 $ 1,810,716 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2019 Financial Assets: Cash and Short-Term Investments $ 150,743 $ 150,743 $ 150,743 $ - $ - Securities 278,193 278,193 - 271,606 6,587 Mortgage Loans Held for Sale 251 251 - 251 - Loans - Net 1,698,141 1,696,470 - - 1,696,470 Cash Value of BOLI 32,568 32,568 - 32,568 - Other Equity Securities 12,565 12,565 - - 12,565 Total $ 2,172,461 $ 2,170,790 $ 150,743 $ 304,425 $ 1,715,622 Financial Liabilities: Deposits $ 1,782,010 $ 1,782,692 $ - $ - $ 1,782,692 Borrowings 185,989 202,863 - 202,863 - Total $ 1,967,999 $ 1,985,555 $ - $ 202,863 $ 1,782,692 |
Note 3 - Earnings Per Common _3
Note 3 - Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net Income Available to Common Shares | $ 4,499 | $ 5,659 |
Weighted Average Common Shares Outstanding (in shares) | 13,313,154 | 13,287,560 |
Dilutive Effect of Stock Options and RSAs (in shares) | 54,122 | 365,565 |
Weighted Average Dilutive Common Shares (in shares) | 13,367,276 | 13,653,125 |
Basic Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.34 | $ 0.43 |
Diluted Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.34 | $ 0.41 |
Note 4 - Securities - Securitie
Note 4 - Securities - Securities Available-for-sale (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Amortized cost | $ 272,410 | $ 274,886 |
Gross unrealized gains | 5,254 | 3,987 |
Gross unrealized losses | 2,549 | 680 |
Fair value | 275,115 | 278,193 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 16,403 | 15,654 |
Gross unrealized gains | 365 | 303 |
Gross unrealized losses | 66 | 20 |
Fair value | 16,702 | 15,937 |
Corporate Debt Securities [Member] | ||
Amortized cost | 24,767 | 23,774 |
Gross unrealized gains | 105 | 98 |
Gross unrealized losses | 733 | 158 |
Fair value | 24,139 | 23,714 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized cost | 144,278 | 137,817 |
Gross unrealized gains | 4,643 | 2,139 |
Gross unrealized losses | 288 | 497 |
Fair value | 148,633 | 139,459 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 86,962 | 97,641 |
Gross unrealized gains | 141 | 1,447 |
Gross unrealized losses | 1,462 | 5 |
Fair value | $ 85,641 | $ 99,083 |
Note 4 - Securities - Securit_2
Note 4 - Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Less than 12 months, fair value | $ 84,003 | $ 4,384 |
Less than 12 months, gross unrealized losses | 1,963 | 28 |
12 months or greater, fair value | 7,448 | 51,987 |
12 months or greater, gross unrealized losses | 586 | 652 |
Total, fair value | 91,451 | 56,371 |
Total, gross unrealized losses | 2,549 | 680 |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, fair value | 4,956 | 2,486 |
Less than 12 months, gross unrealized losses | 66 | 20 |
12 months or greater, fair value | ||
12 months or greater, gross unrealized losses | ||
Total, fair value | 4,956 | 2,486 |
Total, gross unrealized losses | 66 | 20 |
Corporate Debt Securities [Member] | ||
Less than 12 months, fair value | 7,557 | |
Less than 12 months, gross unrealized losses | 207 | |
12 months or greater, fair value | 1,974 | 6,360 |
12 months or greater, gross unrealized losses | 526 | 158 |
Total, fair value | 9,531 | 6,360 |
Total, gross unrealized losses | 733 | 158 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 months, fair value | 8,167 | 950 |
Less than 12 months, gross unrealized losses | 234 | 4 |
12 months or greater, fair value | 4,844 | 44,366 |
12 months or greater, gross unrealized losses | 54 | 493 |
Total, fair value | 13,011 | 45,316 |
Total, gross unrealized losses | 288 | 497 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, fair value | 63,323 | 948 |
Less than 12 months, gross unrealized losses | 1,456 | 4 |
12 months or greater, fair value | 630 | 1,261 |
12 months or greater, gross unrealized losses | 6 | 1 |
Total, fair value | 63,953 | 2,209 |
Total, gross unrealized losses | $ 1,462 | $ 5 |
Note 4 - Securities - Securit_3
Note 4 - Securities - Securities Available-for-sale by Contractual Maturity (Details) $ in Thousands | Mar. 31, 2020USD ($) |
Less Than One Year, Amortized Cost | $ 23,463 |
Less Than One Year, Fair Value | 23,381 |
One to Five Years, Amortized Cost | 45,245 |
One to Five Years, Fair Value | 45,152 |
Over Five to Ten Years, Amortized Cost | 132,248 |
Over Five to Ten Years, Fair Value | 132,951 |
Over Ten Years, Amortized Cost | 71,454 |
Over Ten Years, Fair Value | 73,631 |
Amortized Cost | 272,410 |
Fair Value | $ 275,115 |
Note 5 - Loans and the Allowa_3
Note 5 - Loans and the Allowance for Loan Losses - (Details Textual) | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |||
Loans and Leases Receivable, Deferred Income, Total | $ 3,200,000 | $ 3,000,000 | ||||
Loans and Leases Receivable Reclassified from Overdraft | 884,000 | 276,000 | ||||
Loans Receivable, Unpaid Principal Balance | 139,900,000 | 129,700,000 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 5,188,000 | [1] | 5,009,000 | [1] | $ 10,704,000 | |
Loans and Leases Receivable, Net of Deferred Income, Total | 1,771,380,000 | 1,710,265,000 | ||||
Impaired Financing Receivable, Interest Income, Accrual Method, Total | 56,000 | $ 69,000 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | 0 | ||||
Financing Receivable, Number of Loans Modified by Granting Temporary Payment Deferrals of Principal And/Or Interest | 150 | |||||
Financing Receivable, Amount of Loans Modified by Granting Temporary Payment Deferrals of Principal And/Or Interest. | $ 83,000,000 | |||||
Minden Bancorp and Richland State Bancorp [Member] | Performing Financial Instruments [Member] | ||||||
Loans and Leases Receivable, Deferred Income, Total | 1,900,000 | 2,000,000 | ||||
Loans Receivable, Fair Value Disclosure | 151,600,000 | 180,000,000 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 5,200,000 | 5,000,000 | ||||
Loans and Leases Receivable, Net of Deferred Income, Total | $ 148,300,000 | $ 177,100,000 | ||||
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 5 - Loans and the Allowa_4
Note 5 - Loans and the Allowance for Loan Losses - Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Loans | $ 1,771,380 | $ 1,710,265 | |
Allowance for loan losses | (13,319) | (12,124) | $ (11,220) |
Net loans | 1,758,061 | 1,698,141 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||
Loans | 260,836 | 244,181 | |
Allowance for loan losses | (2,108) | (1,868) | (1,590) |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans | 53,900 | 48,681 | |
Allowance for loan losses | (307) | (229) | (104) |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Loans | 623,114 | 612,608 | |
Allowance for loan losses | (4,148) | (3,882) | (2,715) |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | |||
Loans | 295,876 | 293,142 | |
Allowance for loan losses | (2,090) | (1,888) | (1,538) |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Loans | 32,859 | 36,454 | |
Allowance for loan losses | (213) | (226) | (236) |
Commercial Portfolio Segment [Member] | |||
Loans | 431,992 | 390,398 | |
Allowance for loan losses | (3,783) | (3,414) | (4,453) |
Consumer Portfolio Segment [Member] | |||
Loans | 72,803 | 84,801 | |
Allowance for loan losses | $ (670) | $ (617) | $ (584) |
Note 5 - Loans and the Allowa_5
Note 5 - 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, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | ||||
Beginning Balance | $ 12,124 | $ 11,220 | $ 11,220 | ||||
Charge-offs | (194) | (1,825) | |||||
Recoveries | 22 | 123 | |||||
Provision | 1,367 | 633 | 2,606 | ||||
Ending Balance | 13,319 | 12,124 | |||||
Allowance for credit losses, individually evaluated for impairment | 593 | 556 | |||||
Allowance for credit losses, collectively evaluated for impairment | 12,726 | 11,568 | |||||
Allowance for credit losses, purchased credit impaired | [1] | ||||||
Loans receivable | 1,771,380 | 1,710,265 | |||||
Loans receivable, individually evaluated for impairment | 12,105 | 11,847 | |||||
Loans receivable, collectively evaluated for impairment | 1,754,087 | 1,693,409 | |||||
Loans receivable, purchased credit impaired | 5,188 | [1] | 5,009 | [1] | $ 10,704 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||||||
Beginning Balance | 1,868 | 1,590 | 1,590 | ||||
Charge-offs | (2) | ||||||
Recoveries | |||||||
Provision | 240 | 280 | |||||
Ending Balance | 2,108 | 1,868 | |||||
Allowance for credit losses, individually evaluated for impairment | |||||||
Allowance for credit losses, collectively evaluated for impairment | 2,108 | 1,868 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 260,836 | 244,181 | |||||
Loans receivable, individually evaluated for impairment | 395 | 397 | |||||
Loans receivable, collectively evaluated for impairment | 260,441 | 243,784 | |||||
Loans receivable, purchased credit impaired | [1] | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | |||||||
Beginning Balance | 229 | 104 | 104 | ||||
Charge-offs | (2) | (2) | |||||
Recoveries | 0 | 0 | |||||
Provision | 80 | 127 | |||||
Ending Balance | 307 | 229 | |||||
Allowance for credit losses, individually evaluated for impairment | 3 | 4 | |||||
Allowance for credit losses, collectively evaluated for impairment | 304 | 225 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 53,900 | 48,681 | |||||
Loans receivable, individually evaluated for impairment | 236 | 222 | |||||
Loans receivable, collectively evaluated for impairment | 53,529 | 48,324 | |||||
Loans receivable, purchased credit impaired | [1] | 135 | 135 | ||||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||||||
Beginning Balance | 3,882 | 2,715 | 2,715 | ||||
Charge-offs | (51) | ||||||
Recoveries | 1 | 4 | |||||
Provision | 265 | 1,214 | |||||
Ending Balance | 4,148 | 3,882 | |||||
Allowance for credit losses, individually evaluated for impairment | 40 | 52 | |||||
Allowance for credit losses, collectively evaluated for impairment | 4,108 | 3,830 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 623,114 | 612,608 | |||||
Loans receivable, individually evaluated for impairment | 4,013 | 4,101 | |||||
Loans receivable, collectively evaluated for impairment | 614,276 | 603,891 | |||||
Loans receivable, purchased credit impaired | [1] | 4,825 | 4,616 | ||||
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | |||||||
Beginning Balance | 1,888 | 1,538 | 1,538 | ||||
Charge-offs | (25) | (162) | |||||
Recoveries | 2 | 14 | |||||
Provision | 225 | 498 | |||||
Ending Balance | 2,090 | 1,888 | |||||
Allowance for credit losses, individually evaluated for impairment | 49 | 30 | |||||
Allowance for credit losses, collectively evaluated for impairment | 2,041 | 1,858 | |||||
Allowance for credit losses, purchased credit impaired | [1] | ||||||
Loans receivable | 295,876 | 293,142 | |||||
Loans receivable, individually evaluated for impairment | 3,047 | 2,531 | |||||
Loans receivable, collectively evaluated for impairment | 292,769 | 290,549 | |||||
Loans receivable, purchased credit impaired | [1] | 60 | 62 | ||||
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | |||||||
Beginning Balance | 226 | 236 | 236 | ||||
Charge-offs | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Provision | (13) | (10) | |||||
Ending Balance | 213 | 226 | |||||
Allowance for credit losses, individually evaluated for impairment | 0 | 0 | |||||
Allowance for credit losses, collectively evaluated for impairment | 213 | 226 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 32,859 | 36,454 | |||||
Loans receivable, individually evaluated for impairment | 0 | 0 | |||||
Loans receivable, collectively evaluated for impairment | 32,859 | 36,454 | |||||
Loans receivable, purchased credit impaired | [1] | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | |||||||
Beginning Balance | 3,414 | 4,453 | 4,453 | ||||
Charge-offs | (164) | (1,556) | |||||
Recoveries | 15 | 41 | |||||
Provision | 518 | 476 | |||||
Ending Balance | 3,783 | 3,414 | |||||
Allowance for credit losses, individually evaluated for impairment | 440 | 421 | |||||
Allowance for credit losses, collectively evaluated for impairment | 3,343 | 2,993 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 431,992 | 390,398 | |||||
Loans receivable, individually evaluated for impairment | 3,991 | 4,175 | |||||
Loans receivable, collectively evaluated for impairment | 427,833 | 386,027 | |||||
Loans receivable, purchased credit impaired | [1] | 168 | 196 | ||||
Consumer Portfolio Segment [Member] | |||||||
Beginning Balance | 617 | $ 584 | 584 | ||||
Charge-offs | (3) | (52) | |||||
Recoveries | 4 | 64 | |||||
Provision | 52 | 21 | |||||
Ending Balance | 670 | 617 | |||||
Allowance for credit losses, individually evaluated for impairment | 61 | 49 | |||||
Allowance for credit losses, collectively evaluated for impairment | 609 | 568 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 72,803 | 84,801 | |||||
Loans receivable, individually evaluated for impairment | 423 | 421 | |||||
Loans receivable, collectively evaluated for impairment | 72,380 | 84,380 | |||||
Loans receivable, purchased credit impaired | [1] | $ 0 | $ 0 | ||||
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 5 - Loans and the Allowa_6
Note 5 - Loans and the Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Loans | $ 1,771,380 | $ 1,710,265 |
Pass [Member] | ||
Loans | 1,719,286 | 1,660,185 |
Special Mention [Member] | ||
Loans | 29,457 | 27,887 |
Substandard [Member] | ||
Loans | 13,336 | 13,216 |
Doubtful [Member] | ||
Loans | 9,301 | 8,977 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Loans | 260,836 | 244,181 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Pass [Member] | ||
Loans | 258,126 | 241,519 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Special Mention [Member] | ||
Loans | 757 | 1,141 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Substandard [Member] | ||
Loans | 1,558 | 1,124 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Doubtful [Member] | ||
Loans | 395 | 397 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Loans | 53,900 | 48,681 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | ||
Loans | 51,832 | 46,591 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | ||
Loans | 1,718 | 1,737 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Substandard [Member] | ||
Loans | 13 | 14 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Doubtful [Member] | ||
Loans | 337 | 339 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Loans | 623,114 | 612,608 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Pass [Member] | ||
Loans | 605,090 | 594,046 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Special Mention [Member] | ||
Loans | 11,134 | 11,077 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Substandard [Member] | ||
Loans | 3,308 | 3,830 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Doubtful [Member] | ||
Loans | 3,582 | 3,655 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Loans | 295,876 | 293,142 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Pass [Member] | ||
Loans | 286,995 | 284,381 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Special Mention [Member] | ||
Loans | 2,982 | 3,175 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Substandard [Member] | ||
Loans | 3,032 | 3,237 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Doubtful [Member] | ||
Loans | 2,867 | 2,349 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Loans | 32,859 | 36,454 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Pass [Member] | ||
Loans | 32,828 | 36,422 |
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 | 31 | 32 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans | 431,992 | 390,398 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 413,869 | 374,500 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 11,192 | 9,219 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 5,226 | 4,854 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 1,705 | 1,825 |
Consumer Portfolio Segment [Member] | ||
Loans | 72,803 | 84,801 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 70,546 | 82,726 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 1,674 | 1,538 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 168 | 125 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | $ 415 | $ 412 |
Note 5 - Loans and the Allowa_7
Note 5 - Loans and the Allowance for Loan Losses - Past Due Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Past due | $ 15,852 | $ 8,789 |
Current | 1,755,528 | 1,701,476 |
Loans | 1,771,380 | 1,710,265 |
Recorded investment over 90 days past due and still accruing | 834 | 72 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 8,349 | 2,228 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 1,289 | 1,794 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 6,214 | 4,767 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Past due | 1,302 | 879 |
Current | 259,534 | 243,302 |
Loans | 260,836 | 244,181 |
Recorded investment over 90 days past due and still accruing | 465 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 458 | 483 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 17 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 844 | 379 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Past due | 491 | 177 |
Current | 53,409 | 48,504 |
Loans | 53,900 | 48,681 |
Recorded investment over 90 days past due and still accruing | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 230 | 18 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 101 | 16 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 160 | 143 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Past due | 4,552 | 2,320 |
Current | 618,562 | 610,288 |
Loans | 623,114 | 612,608 |
Recorded investment over 90 days past due and still accruing | ||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 2,993 | 181 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 63 | 610 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 1,496 | 1,529 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Past due | 5,294 | 3,220 |
Current | 290,582 | 289,922 |
Loans | 295,876 | 293,142 |
Recorded investment over 90 days past due and still accruing | 180 | 29 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 2,454 | 1,245 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 948 | 975 |
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 | 1,892 | 1,000 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Past due | 31 | 32 |
Current | 32,828 | 36,422 |
Loans | 32,859 | 36,454 |
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 | 31 | 32 |
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 | 3,272 | 1,579 |
Current | 428,720 | 388,819 |
Loans | 431,992 | 390,398 |
Recorded investment over 90 days past due and still accruing | 71 | |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 1,817 | 126 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 122 | 142 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 1,333 | 1,311 |
Consumer Portfolio Segment [Member] | ||
Past due | 910 | 582 |
Current | 71,893 | 84,219 |
Loans | 72,803 | 84,801 |
Recorded investment over 90 days past due and still accruing | 118 | 43 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 366 | 143 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 55 | 34 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | $ 489 | $ 405 |
Note 5 - Loans and the Allowa_8
Note 5 - Loans and the Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Recorded investment, with an allowance recorded | $ 1,835 | $ 1,848 |
Unpaid principal balance, with an allowance recorded | 1,958 | 1,975 |
Related allowance | 593 | 556 |
Average recorded investment, with an allowance recorded | 1,861 | 1,955 |
Recorded investment, with no allowance recorded | 10,270 | 9,999 |
Unpaid principal balance, with no allowance recorded | 12,167 | 11,892 |
Average recorded investment, with no allowance recorded | 10,225 | 10,885 |
Recorded investment | 12,105 | 11,847 |
Unpaid principal balance | 14,125 | 13,867 |
Average recorded investment | 12,086 | 12,840 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | 0 | |
Average recorded investment, with an allowance recorded | 1 | |
Recorded investment, with no allowance recorded | 395 | 397 |
Unpaid principal balance, with no allowance recorded | 419 | 420 |
Average recorded investment, with no allowance recorded | 396 | 184 |
Recorded investment | 395 | 397 |
Unpaid principal balance | 419 | 420 |
Average recorded investment | 396 | 185 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Recorded investment, with an allowance recorded | 19 | 20 |
Unpaid principal balance, with an allowance recorded | 21 | 21 |
Related allowance | 3 | 4 |
Average recorded investment, with an allowance recorded | 19 | 21 |
Recorded investment, with no allowance recorded | 217 | 202 |
Unpaid principal balance, with no allowance recorded | 223 | 207 |
Average recorded investment, with no allowance recorded | 217 | 177 |
Recorded investment | 236 | 222 |
Unpaid principal balance | 244 | 228 |
Average recorded investment | 236 | 198 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Recorded investment, with an allowance recorded | 525 | 721 |
Unpaid principal balance, with an allowance recorded | 543 | 738 |
Related allowance | 40 | 52 |
Average recorded investment, with an allowance recorded | 588 | 601 |
Recorded investment, with no allowance recorded | 3,488 | 3,381 |
Unpaid principal balance, with no allowance recorded | 3,828 | 3,693 |
Average recorded investment, with no allowance recorded | 3,447 | 3,644 |
Recorded investment | 4,013 | 4,102 |
Unpaid principal balance | 4,371 | 4,431 |
Average recorded investment | 4,035 | 4,245 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Recorded investment, with an allowance recorded | 249 | 136 |
Unpaid principal balance, with an allowance recorded | 268 | 167 |
Related allowance | 49 | 30 |
Average recorded investment, with an allowance recorded | 202 | 163 |
Recorded investment, with no allowance recorded | 2,798 | 2,395 |
Unpaid principal balance, with no allowance recorded | 3,442 | 3,041 |
Average recorded investment, with no allowance recorded | 2,750 | 2,531 |
Recorded investment | 3,047 | 2,531 |
Unpaid principal balance | 3,710 | 3,208 |
Average recorded investment | 2,952 | 2,694 |
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 | 896 | 851 |
Unpaid principal balance, with an allowance recorded | 977 | 926 |
Related allowance | 440 | 421 |
Average recorded investment, with an allowance recorded | 901 | 1,053 |
Recorded investment, with no allowance recorded | 3,095 | 3,323 |
Unpaid principal balance, with no allowance recorded | 3,948 | 4,173 |
Average recorded investment, with no allowance recorded | 3,128 | 4,157 |
Recorded investment | 3,991 | 4,174 |
Unpaid principal balance | 4,925 | 5,099 |
Average recorded investment | 4,029 | 5,210 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with an allowance recorded | 146 | 120 |
Unpaid principal balance, with an allowance recorded | 149 | 123 |
Related allowance | 61 | 49 |
Average recorded investment, with an allowance recorded | 151 | 116 |
Recorded investment, with no allowance recorded | 277 | 301 |
Unpaid principal balance, with no allowance recorded | 307 | 358 |
Average recorded investment, with no allowance recorded | 287 | 192 |
Recorded investment | 423 | 421 |
Unpaid principal balance | 456 | 481 |
Average recorded investment | $ 438 | $ 308 |
Note 5 - Loans and the Allowa_9
Note 5 - Loans and the Allowance for Loan Losses - Purchased Impaired Credits (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2019 | |||
Carrying amount, beginning balance | $ 5,009 | [1] | $ 10,704 | |
Payments received, net of discounts realized | (71) | (5,695) | ||
Advances on purchased impaired credit | 250 | |||
Carrying amount, ending balance | [1] | $ 5,188 | $ 5,009 | |
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 5 - Loans and the Allow_10
Note 5 - Loans and the Allowance for Loan Losses - Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Number of contracts | 14 | 13 |
Pre-modification outstanding recorded investment | $ 8,584 | $ 8,571 |
Post-modification outstanding recorded investment | $ 4,915 | $ 5,027 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Number of contracts | 3 | 3 |
Pre-modification outstanding recorded investment | $ 235 | $ 235 |
Post-modification outstanding recorded investment | $ 218 | $ 219 |
Residential Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Number of contracts | 3 | 3 |
Pre-modification outstanding recorded investment | $ 2,411 | $ 2,411 |
Post-modification outstanding recorded investment | $ 1,996 | $ 2,044 |
Commercial Portfolio Segment [Member] | ||
Number of contracts | 7 | 6 |
Pre-modification outstanding recorded investment | $ 5,927 | $ 5,914 |
Post-modification outstanding recorded investment | $ 2,694 | $ 2,755 |
Consumer Portfolio Segment [Member] | ||
Number of contracts | 1 | 1 |
Pre-modification outstanding recorded investment | $ 11 | $ 11 |
Post-modification outstanding recorded investment | $ 7 | $ 9 |
Note 6 - Leases - (Details Text
Note 6 - Leases - (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Operating Lease, Expense | $ 693,000 | $ 673,000 |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 8 years 36 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.10% | |
Minimum [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 1 year | |
Maximum [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 10 years |
Note 6 - Leases - Future Minimu
Note 6 - Leases - Future Minimum Lease Payments (Details) $ in Thousands | Mar. 31, 2020USD ($) |
April 1, 2020 through March 31, 2021 | $ 1,650 |
April 1, 2021 through March 31, 2022 | 1,990 |
April 1, 2022 through March 31, 2023 | 1,809 |
April 1, 2023 through March 31, 2024 | 1,701 |
April 1, 2024 and Thereafter | 7,341 |
Total Future Minimum Lease Payments | 14,491 |
Less Imputed Interest | (1,700) |
Other Liabilities [Member] | |
Present Value of Lease Liabilities | $ 12,791 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies - (Details Textual) $ in Millions | Mar. 31, 2020USD ($) |
Standby Letters of Credit [Member] | |
Contractual Obligation, Total | $ 23.2 |
Commitments to Extend Credit [Member] | |
Contractual Obligation, Total | $ 400.3 |
Note 8 - Fair Value of Financ_3
Note 8 - Fair Value of Financial Instruments - (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Recurring [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Fair Value, Nonrecurring [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 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, 2020 | Dec. 31, 2019 |
Securities available for sale | $ 275,115 | $ 278,193 |
Fair Value, Recurring [Member] | ||
Mortgage Loans Held for Sale | 868 | 251 |
Total | 275,983 | 278,444 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Mortgage Loans Held for Sale | ||
Total | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Mortgage Loans Held for Sale | 868 | 251 |
Total | 269,763 | 271,857 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Mortgage Loans Held for Sale | ||
Total | 6,220 | 6,587 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 16,702 | 15,937 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 16,702 | 15,937 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 16,702 | 15,937 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Corporate Debt Securities [Member] | ||
Securities available for sale | 24,139 | 23,714 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 24,139 | 23,714 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 24,139 | 23,714 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale | 148,633 | 139,459 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 148,633 | 139,459 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 148,633 | 139,459 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 85,641 | 99,083 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 85,641 | 99,083 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 79,421 | 92,496 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | $ 6,220 | $ 6,587 |
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, 2020 | Dec. 31, 2019 |
Assets measured on a nonrecurring basis | $ 19,580 | $ 20,072 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 19,580 | 20,072 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | ||
Impaired Loans [Member] | ||
Assets measured on a nonrecurring basis | 16,288 | 15,876 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 16,288 | 15,876 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | ||
Repossessed Assets [Member] | ||
Assets measured on a nonrecurring basis | 3,292 | 4,196 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | ||
Repossessed Assets [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 3,292 | 4,196 |
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, 2020 | Dec. 31, 2019 |
Financial Assets: | ||
Other Equity Securities | $ 11,721 | $ 12,565 |
Reported Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 109,244 | 150,743 |
Securities | 275,115 | 278,193 |
Mortgage Loans Held for Sale | 868 | 251 |
Loans - Net | 1,758,061 | 1,698,141 |
Cash Value of BOLI | 32,765 | 32,568 |
Other Equity Securities | 11,721 | 12,565 |
Total | 2,187,774 | 2,172,461 |
Financial Liabilities: | ||
Deposits | 1,802,808 | 1,782,010 |
Borrowings | 182,728 | 185,989 |
Total | 1,985,536 | 1,967,999 |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 109,244 | 150,743 |
Securities | 275,115 | 278,193 |
Mortgage Loans Held for Sale | 868 | 251 |
Loans - Net | 1,728,314 | 1,696,470 |
Cash Value of BOLI | 32,765 | 32,568 |
Other Equity Securities | 11,821 | 12,565 |
Total | 2,158,127 | 2,170,790 |
Financial Liabilities: | ||
Deposits | 1,810,716 | 1,782,692 |
Borrowings | 206,977 | 202,863 |
Total | 2,017,693 | 1,985,555 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 109,244 | 150,743 |
Securities | ||
Mortgage Loans Held for Sale | ||
Loans - Net | ||
Cash Value of BOLI | ||
Other Equity Securities | ||
Total | 109,244 | 150,743 |
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 | 268,895 | 271,606 |
Mortgage Loans Held for Sale | 868 | 251 |
Loans - Net | ||
Cash Value of BOLI | 32,765 | 32,568 |
Other Equity Securities | ||
Total | 302,528 | 304,425 |
Financial Liabilities: | ||
Deposits | ||
Borrowings | 206,977 | 202,863 |
Total | 206,977 | 202,863 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | ||
Securities | 6,220 | 6,587 |
Mortgage Loans Held for Sale | ||
Loans - Net | 1,728,314 | 1,696,470 |
Cash Value of BOLI | ||
Other Equity Securities | 11,821 | 12,565 |
Total | 1,746,355 | 1,715,622 |
Financial Liabilities: | ||
Deposits | 1,810,716 | 1,782,692 |
Borrowings | ||
Total | $ 1,810,716 | $ 1,782,692 |
Note 9 - Subsequent Events - (D
Note 9 - Subsequent Events - (Details Textual) - USD ($) $ in Thousands | May 01, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Assets, Total | $ 2,287,662 | $ 2,273,835 | |
Deposits, Total | 1,802,808 | $ 1,782,010 | |
Pedestal [Member] | |||
Assets, Total | 1,300,000 | ||
Loans Payable, Total | 848,600 | ||
Deposits, Total | $ 1,000,000 | ||
Subsequent Event [Member] | Pedestal Merger [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 7,614,506 |