Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | Apr. 26, 2016 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | RIVER FINANCIAL CORPORATION | |
Entity Central Index Key | 1,641,601 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 5,279,166 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 10,435 | $ 12,415 |
Interest-bearing deposits in banks | 18,358 | 18,580 |
Federal funds sold | 8,976 | 7 |
Cash and cash equivalents | 37,769 | 31,002 |
Certificates of deposit in banks | 5,971 | 6,070 |
Securities available-for-sale | 141,758 | 144,721 |
Loans held for sale | 2,915 | 2,771 |
Loans, net of deferred fees and discounts | 483,159 | 479,271 |
Less allowance for loan losses | (4,071) | (3,827) |
Net loans | 479,088 | 475,444 |
Premises and equipment, net | 20,896 | 20,553 |
Accrued interest receivable | 2,138 | 2,234 |
Bank owned life insurance | 14,837 | 14,731 |
Foreclosed assets | 1,802 | 1,949 |
Deferred income taxes | 1,914 | 2,445 |
Core deposit intangible | 2,594 | 2,763 |
Goodwill | 10,050 | 9,410 |
Other assets | 3,886 | 3,941 |
Total assets | 725,618 | 718,034 |
Liabilities and Shareholders' Equity | ||
Noninterest-bearing deposits | 123,608 | 124,345 |
Interest-bearing deposits | 489,533 | 486,054 |
Total deposits | 613,141 | 610,399 |
Short-term debt | 11,258 | 10,166 |
Federal Home Loan Bank advances | 10,750 | 10,500 |
Note payable | 7,232 | |
Payable to Keystone shareholders | 7,274 | |
Accrued interest payable and other liabilities | 3,979 | 4,771 |
Total liabilities | 646,360 | 643,110 |
Common stock ($1 par value; 10,000,000 shares authorized; 5,076,063 and 4,876,104 shares issued; 5,076,063 and 4,809,594 shares outstanding, respectively) | 5,076 | 4,876 |
Additional paid in capital | 64,421 | 62,493 |
Retained earnings | 8,852 | 7,941 |
Accumulated other comprehensive income | 909 | 571 |
Treasury stock at cost (66,510 shares) | (957) | |
Total stockholders' equity | 79,258 | 74,924 |
Total liabilities and stockholders' equity | $ 725,618 | $ 718,034 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Parenthetical) - $ / shares | Mar. 31, 2016 | Dec. 31, 2015 |
Statement Of Financial Position [Abstract] | ||
Common stock, par value | $ 1 | $ 1 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 5,076,063 | 4,876,104 |
Common stock, shares outstanding | 5,076,063 | 4,809,594 |
Treasury stock, shares | 66,510 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Interest income: | ||
Loans, including fees | $ 6,479 | $ 3,287 |
Taxable securities | 413 | 463 |
Nontaxable securities | 271 | 177 |
Federal funds sold | 7 | 1 |
Other interest income | 47 | 5 |
Total interest income | 7,217 | 3,933 |
Interest expense: | ||
Deposits | 509 | 291 |
Short term borrowings | 4 | 4 |
Long term borrowings | 19 | 10 |
Note payable | 63 | |
Total interest expense | 595 | 305 |
Net interest income | 6,622 | 3,628 |
Provision for loan losses | 232 | 139 |
Net interest income after provision for loan losses | 6,390 | 3,489 |
Noninterest income: | ||
Service charges and fees | 600 | 454 |
Investment brokerage revenue | 43 | 74 |
Mortgage operations | 194 | 63 |
Bank owned life insurance income | 107 | 75 |
Net gain on sale of investment securities | 5 | |
Other noninterest income | 68 | 55 |
Total noninterest income | 1,012 | 726 |
Noninterest expense: | ||
Salaries and employee benefits | 2,548 | 1,526 |
Occupancy expenses | 351 | 217 |
Equipment rentals, depreciation, and maintenance | 240 | 113 |
Telephone and communications | 63 | 31 |
Advertising and business development | 112 | 123 |
Data processing | 480 | 265 |
Foreclosed assets, net | 50 | 36 |
Federal deposit insurance and other regulatory assessments | 106 | 79 |
Legal and other professional services | 214 | 83 |
Other operating expense | 764 | 377 |
Total noninterest expense | 4,928 | 2,850 |
Income before income taxes | 2,474 | 1,365 |
Provision for income taxes | 751 | 406 |
Net income | $ 1,723 | $ 959 |
Basic net earnings per common share | $ 0.35 | $ 0.32 |
Diluted net earnings per common share | 0.35 | 0.31 |
Dividends per common share | $ 0.16 | $ 0.14 |
Unaudited Consolidated Stateme5
Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net income | $ 1,723 | $ 959 |
Investment securities available-for-sale: | ||
Net unrealized gains | 536 | 428 |
Reclassification adjustments for net gains realized in net income | (5) | |
Income tax effect | 198 | 165 |
Other comprehensive income | 338 | 258 |
Comprehensive income | $ 2,061 | $ 1,217 |
Unaudited Consolidated Stateme6
Unaudited Consolidated Statements of Changes in Shareholders' Equity - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands | Total | Common Stock | Additional Paid In Capital | Retained Earnings | Accumulated Other Comprehensive Income | Treasury Stock |
Balance at Dec. 31, 2015 | $ 74,924 | $ 4,876 | $ 62,493 | $ 7,941 | $ 571 | $ (957) |
Net income | 1,723 | 1,723 | ||||
Other comprehensive income | 338 | 338 | ||||
Exercise of stock options and warrants | 2,431 | 200 | 1,274 | $ 957 | ||
Dividends declared | (812) | (812) | ||||
Purchase accounting adjustment - Keystone merger | 640 | 640 | ||||
Stock compensation expense | 14 | 14 | ||||
Balance at Mar. 31, 2016 | $ 79,258 | $ 5,076 | $ 64,421 | $ 8,852 | $ 909 |
Unaudited Consolidated Stateme7
Unaudited Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) | 3 Months Ended |
Mar. 31, 2016$ / sharesshares | |
Statement Of Stockholders Equity [Abstract] | |
Exercise of stock options and warrants, shares | shares | 266,469 |
Dividends declared, per share | $ / shares | $ 0.16 |
Unaudited Consolidated Stateme8
Unaudited Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash Flows From (Used For) Operating Activities: | ||
Net income | $ 1,723,000 | $ 959,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 232,000 | 139,000 |
Provision for losses on foreclosed assets | 45,000 | 38,000 |
Amortization of securities available-for-sale | 400,000 | 343,000 |
Accretion of securities available-for-sale | (8,000) | (1,000) |
Realized net gain on securities available-for-sale | (5,000) | |
Accretion of discount on acquired loans | (455,000) | |
Amortization of deferred loan fees | (98,000) | (56,000) |
Amortizaiton of core deposit intangible asset | 169,000 | |
Stock compensation expense | 14,000 | 6,000 |
Bank owned life insurance income | (107,000) | (75,000) |
Depreciation and amortization of premises and equipment | 201,000 | 126,000 |
Gain on sale of foreclosed assets | (1,000) | (10,000) |
Deferred income tax (benefit) | 334,000 | (118,000) |
(Increase) decrease in operating assets and (Decrease) increase in operating liabilities: | ||
Loans held-for-sale | (102,000) | |
Accrued interest receivable | 97,000 | 136,000 |
Other assets | (49,000) | |
Accrued interest payable and other liabilities | (792,000) | 147,000 |
Net cash from operating activities | 1,603,000 | 1,629,000 |
Cash Flows From (Used For) Investing Activities: | ||
Maturity of certificate of deposit | 249,000 | |
Activity in securities available-for-sale: | ||
Sales | 0 | 3,425,000 |
Maturities, payments, calls | 3,205,000 | 8,580,000 |
Purchases | (6,469,000) | |
Loan principal originations, net | (3,322,000) | (11,893,000) |
Proceeds from sale of foreclosed assets | 103,000 | 116,000 |
Purchases of premises and equipment | (544,000) | (731,000) |
Sale (purchase) of restricted equity securities, net | 61,000 | (3,000) |
Net cash used for investing activities | (497,000) | (6,726,000) |
Cash Flows From (Used For) Financing Activities: | ||
Net increase (decrease) in deposits | 2,742,000 | (2,024,000) |
Net increase (decrease) in short-term borrowings | 1,092,000 | (754,000) |
Payment of amount payable to Keystone shareholders | (7,274,000) | |
Proceeds from Federal Home Loan Bank advances | 6,750,000 | |
Repayment of Federal Home Loan Bank advances | (6,500,000) | |
Proceeds from issuance of note payable | 7,500,000 | |
Repayment of note payable | (268,000) | |
Proceeds from exercise of common stock options and warrants | 2,431,000 | |
Purchase of treasury stock | (86,000) | |
Cash dividends | (812,000) | (419,000) |
Net cash from (used for) financing activities | 5,661,000 | (3,283,000) |
Net Change In Cash And Cash Equivalents | 6,767,000 | (8,380,000) |
Cash and Cash Equivalents At Beginning Of Period | 31,002,000 | 25,369,000 |
Cash and Cash Equivalents At End Of Period | 37,769,000 | 16,989,000 |
Cash Payments For: | ||
Interest paid to depositors | 483,000 | 297,000 |
Interest paid on borrowings | 86,000 | $ 14,000 |
Income taxes | $ 425,000 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Note 1 – Basis of Presentation General The unaudited consolidated financial statements include the accounts of River Financial Corporation (“River” or the “Company”) and its wholly owned subsidiary, River Bank & Trust (“Bank”). The Bank provides a full range of commercial and consumer banking services primarily in the Montgomery, Alabama metropolitan area and surrounding counties in Alabama. The Bank is primarily regulated by the Federal Deposit Insurance Corporation (“FDIC”) and undergoes periodic examinations by this regulatory agency and the Alabama Banking Department. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly River Financial Corporation’s consolidated balance sheets, statements of income, statements of comprehensive income, statements of stockholders’ equity and statements of cash flows 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 necessarily indicative of the results to be expected for the entire year. 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 note disclosures normally presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted or abbreviated. These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes as of December 31, 2015, which are contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions River may undertake in the future. Estimates are used in accounting for, among other items, the allowance for loan losses, foreclosed asset valuations, useful lives for depreciation and amortization, fair value of financial instruments, deferred taxes, and contingencies. Estimates that are particularly susceptible to significant change for River include the determination of the allowance for loan losses and the assessment of deferred tax assets and liabilities, and therefore are critical accounting policies. Management does not anticipate any material changes to estimates in the near term. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: external market factors such as market interest rates and employment rates, changes to operating policies and procedures, economic conditions in our markets, and changes in applicable banking regulations. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the consolidated financial statements in any individual reporting period presented. |
Reclassifications
Reclassifications | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Reclassifications | Note 2 – Reclassifications Certain prior period amounts have been reclassified to conform to the presentation used in 2016. These reclassifications had no material effect on the operations, financial condition or cash flows of the Company. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 3 – Earnings Per Share Basic earnings per common share are computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share are computed by dividing net income by the effect of the issuance of potential common shares that are dilutive and by the sum of the weighted-average number of shares of common stock outstanding. The reconciliation of the components of the basic and diluted earnings per share is as follows: For the Three Months Ended March 31, 2016 2015 Net earnings available to common shareholders $ 1,723 $ 959 Weighted average common shares outstanding 4,866,049 2,995,231 Dilutive effect of stock options 69,467 58,398 Dilutive effect of stock warrants 55,361 50,625 Diluted common shares 4,990,877 3,104,254 Basic earnings per common share $ 0.35 $ 0.32 Diluted earnings per common share $ 0.35 $ 0.31 |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2016 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 4 – Investment Securities Securities available-for-sale at March 31, 2016 and December 31, 2015 are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2016: Securities available-for-sale: Residential mortgage-backed $ 57,768 $ 431 $ (70 ) $ 58,129 U.S. govt. sponsored enterprises 22,807 201 (62 ) 22,946 State, county, and municipal 57,682 1,144 (184 ) 58,642 Corporate debt obligations 2,060 3 (22 ) 2,041 Totals $ 140,317 $ 1,779 $ (338 ) $ 141,758 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2015: Securities available-for-sale: Residential mortgage-backed $ 60,756 $ 224 $ (295 ) $ 60,685 U.S. govt. sponsored enterprises 22,985 114 (146 ) 22,953 State, county, and municipal 58,018 1,011 (6 ) 59,023 Corporate debt obligations 2,057 3 — 2,060 Totals $ 143,816 $ 1,352 $ (447 ) $ 144,721 Management evaluates securities for other-than-temporary impairment on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Details concerning investment securities with unrealized losses as of March 31, 2016 and December 31, 2015 are as follows: Less Than 12 Months More Than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2016: Securities available-for-sale: Residential mortgage-backed $ 14,547 $ 30 $ 1,792 $ 40 $ 16,339 $ 70 U.S. govt. sponsored enterprises 1,002 1 4,851 61 5,853 62 State, county & municipal 23,620 179 555 5 24,175 184 Corporate debt obligations 1,038 22 - - 1,038 22 Totals $ 40,207 $ 232 $ 7,198 $ 106 $ 47,405 $ 338 December 31, 2015: Securities available-for-sale: Residential mortgage-backed $ 20,841 $ 110 $ 10,937 $ 185 $ 31,778 $ 295 U.S. govt. sponsored enterprises 9,489 13 4,820 133 14,309 146 State, county & municipal - - 557 6 557 6 Totals $ 30,330 $ 123 $ 16,314 $ 324 $ 46,644 $ 447 As of March 31, 2016, management does not consider securities with unrealized losses to be other-than-temporarily impaired. The unrealized losses in each category have occurred as a result of changes in interest rates, market spreads and market conditions subsequent to purchase. River has the ability and intent to hold its securities for a period of time sufficient to allow for a recovery in fair value. There were no other-than-temporary impairments charged to earnings during the three months ended March 31, 2016 or 2015. The Company owned a total of 110 securities with a net unrealized loss of $338 at March 31, 2016. During the three months ended March 31, 2015, River sold investment securities for proceeds of $3,425 and realized gains of $5. No investment securities were sold during the three months ended March 31, 2016. The amortized cost and estimated fair value of securities available-for-sale at March 31, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities for residential mortgage backed securities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties. These securities are therefore not presented by maturity classification. Amortized Cost Fair Value (In Thousands) Securities available-for-sale Less than 1 year $ 6,050 $ 6,051 1 to 5 years 25,091 25,170 5 to 10 years 17,848 17,886 After 10 years 33,560 34,522 82,549 83,629 Residential mortgage-backed securities 57,768 58,129 Totals $ 140,317 $ 141,758 |
Loans, Allowance for Loan Losse
Loans, Allowance for Loan Losses and Credit Quality | 3 Months Ended |
Mar. 31, 2016 | |
Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract] | |
Loans, Allowance for Loan Losses and Credit Quality | Note 5 – Loans, Allowance for Loan Losses and Credit Quality Major classifications of loans at March 31, 2016 and December 31, 2015 are summarized as follows: March 31, 2016 December 31, 2015 Amount % of Total Amount % of Total Residential real estate: Closed-end 1-4 family - first lien $ 108,699 22.6 % $ 111,476 23.4 % Closed-end 1-4 family - junior lien 4,961 1.0 % 5,246 1.1 % Multi-family 17,547 3.7 % 17,553 3.7 % Equity lines of credit 32,365 6.8 % 32,969 6.9 % Total residential real estate 163,572 34.0 % 167,244 35.1 % Commercial real estate: Nonfarm nonresidential 149,019 31.1 % 149,597 31.5 % Farmland 14,242 3.0 % 15,456 3.3 % Total commercial real estate 163,261 34.1 % 165,053 34.8 % Construction and land development: Residential 24,231 5.1 % 21,302 4.5 % Other 36,645 7.6 % 34,459 7.2 % Total construction and land development 60,876 12.7 % 55,761 11.7 % Commercial loans: Other commercial loans 75,026 15.7 % 71,247 15.0 % Agricultural 893 0.2 % 946 0.2 % State, county, and municipal loans 7,044 1.5 % 7,414 1.6 % Total commercial loans 82,963 17.4 % 79,607 16.8 % Consumer loans 19,965 4.2 % 19,557 4.1 % Total gross loans 490,637 102.4 % 487,222 102.5 % Allowance for loan losses (4,071 ) -0.8 % (3,827 ) -0.8 % Net deferred loan fees and discounts (7,478 ) -1.6 % (7,951 ) -1.7 % Net loans $ 479,088 100.0 % $ 475,444 100.0 % The Bank grants loans and extensions of credit to individuals and a variety of businesses and corporations located in its general trade area. Although the Bank has a diversified loan portfolio, a substantial portion of the loan portfolio is collateralized by improved and unimproved real estate and is dependent upon the real estate market. Relevant risk characteristics for these portfolio segments generally include debt service coverage, loan-to-value ratios and financial performance on non-consumer loans and credit scores, debt-to-income, collateral type and loan-to-value ratios for consumer loans. The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method for the periods indicated: Real Estate Mortgage Loans Construction Home Equity and Land Lines Allowance for Loan Losses Residential Commercial Development Of Credit Commercial Consumer Total Balance - December 31, 2015 $ 368 $ 1,302 $ 569 $ 150 $ 1,250 $ 188 $ 3,827 Provision for loan losses 72 (165 ) 151 (34 ) 197 11 232 Loan charge-offs — — — — — (24 ) (24 ) Loan recoveries — — 4 7 10 15 36 Balance - March 31, 2016 $ 440 $ 1,137 $ 724 $ 123 $ 1,457 $ 190 $ 4,071 Ending balance: Individually evaluated for impairment $ 59 $ 501 $ 38 $ — $ 1,126 $ — $ 1,724 Collectively evaluated for impairment $ 381 $ 636 $ 686 $ 123 $ 331 $ 190 $ 2,347 Total $ 440 $ 1,137 $ 724 $ 123 $ 1,457 $ 190 $ 4,071 Loans: Individually evaluated for impairment $ 1,233 $ 2,232 $ 93 $ 100 $ 1,735 $ — $ 5,393 Collectively evaluated for impairment $ 129,974 $ 161,029 $ 60,783 $ 32,265 $ 81,228 $ 19,965 $ 485,244 Total $ 131,207 $ 163,261 $ 60,876 $ 32,365 $ 82,963 $ 19,965 $ 490,637 Real Estate Mortgage Loans Construction Home Equity and Land Lines Allowance for Loan Losses Residential Commercial Development Of Credit Commercial Consumer Total Balance - December 31, 2014 $ 304 $ 1,267 $ 627 $ 437 $ 652 $ 491 $ 3,778 Provision for loan losses (33 ) (59 ) (90 ) (7 ) 448 (120 ) 139 Loan charge-offs — — — — — (17 ) (17 ) Loan recoveries — — 1 — 12 12 25 Balance - March 31, 2015 $ 271 $ 1,208 $ 538 $ 430 $ 1,112 $ 366 $ 3,925 Ending balance: Individually evaluated for impairment $ — $ 583 $ 40 $ 333 $ 777 $ — $ 1,733 Collectively evaluated for impairment $ 271 $ 625 $ 498 $ 97 $ 335 $ 366 $ 2,192 Total $ 271 $ 1,208 $ 538 $ 430 $ 1,112 $ 366 $ 3,925 Loans: Individually evaluated for impairment $ 1,199 $ 2,540 $ 94 $ 333 $ 1,229 $ — $ 5,395 Collectively evaluated for impairment $ 59,508 $ 100,458 $ 26,612 $ 16,827 $ 57,099 $ 11,689 $ 272,193 Total $ 60,707 $ 102,998 $ 26,706 $ 17,160 $ 58,328 $ 11,689 $ 277,588 The Bank individually evaluates for impairment all loans that are on nonaccrual status. Additionally, all troubled debt restructurings are individually evaluated for impairment. A loan is considered impaired when, based on current events and circumstances it is probable that all amounts due according to the contractual terms of the loan will not be collected. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, at the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. Management may also elect to apply an additional collective reserve to groups of impaired loans based on current economic or market factors. Interest payments received on impaired loans are generally applied as a reduction of the outstanding principal balance. The following table presents impaired loans by class of loans as of March 31, 2016. Total Impaired Loans Impaired Loans Impaired With No With Allowance for Nonaccruing Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 177 $ 177 $ — $ — Commercial real estate 1,416 1,039 377 198 Construction and land development — — — — Equity lines of credit — — — — Total mortgage loans on real estate 1,593 1,216 377 198 Commercial loans 1,021 — 1,021 536 Consumer loans — — — — Total Loans $ 2,614 $ 1,216 $ 1,398 $ 734 Total Impaired Loans Impaired Loans Impaired With No With Allowance for Accruing Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 1,056 $ 926 $ 130 $ 59 Commercial real estate 816 — 816 303 Construction and land development 93 — 93 38 Equity lines of credit 100 100 — — Total mortgage loans on real estate 2,065 1,026 1,039 400 Commercial loans 714 — 714 590 Consumer loans — — — — Total Loans $ 2,779 $ 1,026 $ 1,753 $ 990 Total Impaired Loans Impaired Loans Impaired With No With Allowance for Total Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 1,233 $ 1,103 $ 130 $ 59 Commercial real estate 2,232 1,039 1,193 501 Construction and land development 93 — 93 38 Equity lines of credit 100 100 — — Total mortgage loans on real estate 3,658 2,242 1,416 598 Commercial loans 1,735 — 1,735 1,126 Consumer loans — — — — Total Loans $ 5,393 $ 2,242 $ 3,151 $ 1,724 The following table presents impaired loans by class of loans as of December 31, 2015. Impaired Impaired Loans Total Impaired With No With Allowance for Nonaccruing Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 375 $ 375 $ — $ — Commercial real estate 1,415 1,050 365 188 Construction and land development — — — — Equity lines of credit — — — - Total mortgage loans on real estate 1,790 1,425 365 188 Commercial loans 1,021 — 1,021 491 Consumer loans — — — — Total Loans $ 2,811 $ 1,425 $ 1,386 $ 679 Impaired Loans Impaired Loans Total Impaired With No With Allowance for Accruing Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 1,069 $ 1,069 $ — $ — Commercial real estate 827 — 827 304 Construction and land development 100 — 100 45 Equity lines of credit 100 100 — — Total mortgage loans on real estate 2,096 1,169 927 349 Commercial loans 422 — 422 285 Consumer loans — — — — Total Loans $ 2,518 $ 1,169 $ 1,349 $ 634 Impaired Loans Impaired Loans Total Impaired With No With Allowance for Total Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 1,444 $ 1,444 $ — $ — Commercial real estate 2,242 1,050 1,192 492 Construction and land development 100 — 100 45 Equity lines of credit 100 100 — — Total mortgage loans on real estate 3,886 2,594 1,292 537 Commercial loans 1,443 — 1,443 776 Consumer loans — — — — Total Loans $ 5,329 $ 2,594 $ 2,735 $ 1,313 The following table presents the average recorded investment in impaired loans and the interest income recognized on impaired loans in the three months ended March 31, 2016 and 2015 by loan category. Three Months Ended Three Months Ended March 31, 2016 March 31, 2015 Average Ending Average Ending Recorded Recorded Interest Recorded Recorded Interest Investment Investment Income Investment Investment Income Mortgage loans on real estate: Residential real estate $ 1,194 $ 1,233 $ 18 $ 1,211 $ 1,199 $ 16 Commercial real estate 2,697 2,232 9 2,371 2,540 28 Construction and land development 90 93 1 131 94 1 Equity lines of credit 100 100 1 347 333 — Total mortgage loans on real estate 4,081 3,658 29 4,060 4,166 45 Commercial loans 1,605 1,735 7 714 1,229 11 Consumer loans — — — 563 - — Total Loans $ 5,686 $ 5,393 $ 36 $ 5,337 $ 5,395 $ 56 The following tables present the aging of loans and non-accrual loan balances as of March 31, 2016 and December 31, 2015, by class of loans. Accruing Loans As of March 31, 2016 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 128,358 $ 2,249 $ 130 $ 470 $ 131,207 Commercial real estate 161,786 58 — 1,417 163,261 Construction and land development 60,750 45 21 60 60,876 Equity lines of credit 32,260 105 — — 32,365 Total mortgage loans on real estate 383,154 2,457 151 1,947 387,709 Commercial loans 80,909 1,014 - 1,040 82,963 Consumer loans 19,682 186 22 75 19,965 Total Loans $ 483,745 $ 3,657 $ 173 $ 3,062 $ 490,637 Accruing Loans As of December 31, 2015 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 131,608 $ 2,058 $ 129 $ 480 $ 134,275 Commercial real estate 163,638 — — 1,415 165,053 Construction and land development 55,676 21 — 64 55,761 Equity lines of credit 32,934 35 — — 32,969 Total mortgage loans on real estate 383,856 2,114 129 1,959 388,058 Commercial loans 78,282 249 17 1,059 79,607 Consumer loans 19,264 134 91 68 19,557 Total Loans $ 481,402 $ 2,497 $ 237 $ 3,086 $ 487,222 The Bank categorizes loans in risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Bank analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a continuous basis. The Bank uses the following definitions for its risk ratings: Special Mention - Weakness exists that could cause future impairment, including the deterioration of financial ratios, past due status and questionable management capabilities. Collateral values generally afford adequate coverage but may not be immediately marketable. Substandard - Specific and well-defined weaknesses exist that may include poor liquidity and deterioration of financial ratios. The loan may be past due and related deposit accounts experiencing overdrafts. Immediate corrective action is necessary. Doubtful - Specific weaknesses characterized as Substandard that are severe enough to make collection in full unlikely. There is no reliable secondary source of full repayment. Loans classified as doubtful will be placed on non-accrual, analyzed and fully or partially charged-off based on review of collateral and other relevant factors. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be Pass rated loans. As of March 31, 2016 and December 31, 2015, and based on the most recent analysis performed as of those dates, the risk category of loans by class of loans is as follows: Accruing Loans As of March 31, 2016 Pass Special Mention Substandard Nonaccrual Loans Total Mortgage loans on real estate: Residential $ 121,052 $ 6,596 $ 3,089 $ 470 $ 131,207 Commercial real estate 153,981 6,449 1,414 1,417 163,261 Construction and land development 59,485 593 738 60 60,876 Equity lines of credit 32,136 104 125 — 32,365 Total mortgage loans on real estate 366,654 13,742 5,366 1,947 387,709 Commercial loans 78,728 2,299 896 1,040 82,963 Consumer loans 19,435 291 164 75 19,965 Total Loans $ 464,817 $ 16,332 $ 6,426 $ 3,062 $ 490,637 Accruing Loans As of December 31, 2015 Pass Special Mention Substandard Nonaccrual Loans Total Mortgage loans on real estate: Residential $ 123,862 $ 6,765 $ 3,168 $ 480 $ 134,275 Commercial real estate 155,235 7,019 1,384 1,415 165,053 Construction and land development 54,083 845 769 64 55,761 Equity lines of credit 32,740 104 125 - 32,969 Total mortgage loans on real estate 365,920 14,733 5,446 1,959 388,058 Commercial loans 75,335 2,598 632 1,042 79,607 Consumer loans 18,924 428 137 68 19,557 Total Loans $ 460,179 $ 17,759 $ 6,215 $ 3,069 $ 487,222 |
Fair Value Measurements and Dis
Fair Value Measurements and Disclosures | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements and Disclosures | Note 6 – Fair Value Measurements and Disclosures River utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Securities available-for-sale are recorded at fair value on a recurring basis. Additionally, from time to time, River may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans and foreclosed assets. These nonrecurring fair value adjustments typically involve application of the lower of cost or market accounting or write-downs of individual assets. Fair Value Hierarchy River groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 – Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. Following is a description of valuation methodologies used for assets and liabilities recorded or disclosed at fair value. Cash and cash equivalents Certificates of deposit Securities available-for-sale Restricted equity securities Loans For disclosure purposes, the fair value of fixed rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings. For variable rate loans, the carrying amount is a reasonable estimate of fair value. Cash value of bank owned life insurance Deposit liabilities Short-term debt Federal Home Loan Bank advances Note Payable Assets and liabilities measured at fair value on a recurring basis Fair Value Measurements At Reporting Date Using: March 31, 2016 Fair Value Quoted Prices In Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available-for-sale: Residential mortgage -backed $ 58,129 $ — $ 58,129 $ — U.S. government agencies 22,946 — 22,946 — State, county, and municipal 58,642 — 58,642 — Corporate obligations 2,041 — 1,389 652 Totals $ 141,758 $ — $ 141,106 $ 652 Fair Value Measurements At Reporting Date Using: December 31, 2015 Fair Value Quoted Prices In Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available-for-sale: Residential mortgage -backed $ 60,685 $ — $ 60,685 $ — U.S. government agencies 22,953 — 22,953 — State, county, and municipal 59,023 — 59,023 — Corporate obligations 2,060 — 1,408 652 Totals $ 144,721 $ — $ 144,069 $ 652 Assets measured at fair value on a nonrecurring basis - River has assets that, under certain conditions, are subject to measurement at fair value on a non-recurring basis. The following table presents the financial instruments carried on the balance sheet by caption and by level in the fair value hierarchy, for which a non-recurring change in fair value has been recorded as of March 31, 2016 and December 31, 2015: Fair Value Measurements At Reporting Date Using: March 31, 2016 Fair Value Quoted Prices In Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 3,669 $ — $ — $ 3,669 Foreclosed assets 1,802 — — 1,802 Totals $ 5,471 $ — $ — $ 5,471 December 31, 2015 Fair Value Quoted Prices In Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 4,016 $ — $ — $ 4,016 Foreclosed assets 1,949 — — 1,949 Totals $ 5,965 $ — $ — $ 5,965 River has estimated the fair values of these assets using Level 3 inputs, specifically the appraised value of the collateral. Impaired loan balances represent those collateral dependent impaired loans where management has estimated the credit loss by comparing the loan’s carrying value against the expected realizable fair value of the impaired loan for the amount of the credit loss. The estimated fair values, and related carrying or notional amounts, of River’s financial instruments as of March 31, 2016 and December 31, 2015 are as follows: Estimated Fair Value March 31, 2016 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 37,769 $ 37,769 $ — $ — Certificates of Deposit 5,971 — 5,971 — Securities Available for Sale 141,758 — 141,106 652 Loans held-for-sale 2,915 — 2,915 — Restricted Equity Securities 1,208 — — 1,208 Loans Receivable 479,088 — 489,718 — Bank Owned Life Insurance 14,837 — 14,837 — Financial Liabilities: Deposits 613,141 — 609,400 — Short Term Debt 11,258 — 11,258 — Federal Home Loan Bank Advances 10,750 — 10,752 — Note Payable 7,232 — 7,232 — Estimated Fair Value December 31, 2015 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 31,002 $ 31,002 $ — $ — Certificates of Deposit 6,070 — 6,070 — Securities Available for Sale 144,721 — 144,069 652 Loans held-for-sale 2,771 — 2,771 — Restricted Equity Securities 1,270 — — 1,270 Loans Receivable 475,444 — 475,892 — Bank Owned Life Insurance 14,731 — 14,731 — Financial Liabilities: Deposits 610,399 — 599,988 — Short Term Debt 10,166 — 10,166 — Federal Home Loan Bank Advances 10,500 — 10,492 — The estimated fair values of the standby letters of credit and loan commitments on which the committed interest rate is less than the current market rate are insignificant at March 31, 2016 and December 31, 2015. River assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, the fair values of River’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to River. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. However, borrowers with fixed-rate obligations are less likely to prepay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed-rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling-rate environment. Management monitors rates and maturities of assets and liabilities, and attempts to minimize interest rate risk by adjusting terms of new loans and deposits and by investing in securities with terms that mitigate the Corporation’s overall interest rate risk. |
Acquisition
Acquisition | 3 Months Ended |
Mar. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisition | Note 7 – Acquisition On December 31, 2015, Keystone Bancshares, Inc. (“Keystone”) was merged with and into River. Concurrent with the merger of River and Keystone, Keystone Bank was merged with and into River Bank & Trust. Under the terms of the merger agreement, shareholders of Keystone immediately prior to the effective time of the merger received one share of River common stock in exchange for each outstanding share of Keystone common stock held and $4.00 in cash. In addition, persons holding options or warrants to acquire Keystone common stock received options or warrants to acquire 1.25 shares of River common stock for each option or warrant at a purchase price equal to the original exercise price divided by 1.25. River issued 1,818,492 shares of River common stock to Keystone shareholders and made cash payments to Keystone shareholders of approximately $7,274. During the first quarter of 2016, an adjustment to the acquisition values was recorded to recognize the fair value of the Keystone stock options and stock warrants assumed in the merger. The value was computed using the Black-Sholes option pricing model and totaled $640. The adjustment resulted in an increase to additional paid in capital of $640 and a corresponding increase in goodwill of $640. |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Changes And Error Corrections [Abstract] | |
Recently Issued Accounting Pronouncements | Note 8 – Recently Issued Accounting Pronouncements In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. These amendments are intended to reduce diversity in the timing and content of going concern disclosures. This ASU clarifies management’s responsibility to evaluate and provide related disclosures if there are any conditions or events, as a whole, that raise substantial doubt about the entity’s ability to continue as a going concern for one year after the date on which the financial statements are issued (or, if applicable, available to be issued). The amendments in this ASU will be effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company does not believe that this ASU will have an impact on its financial position or results of operations. In February 2015, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2015-02, Amendments to the Consolidation Analysis. The amendment substantially changes the way that reporting entities are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the new amendment. Specifically, the amendments modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, eliminate the presumption that a general partner should consolidate a limited partnership, and affect the consolidation analysis of reporting entities that are involved with VIEs. The amendments in this update will be effective for interim and annual periods beginning after December 15, 2015. Early adoption is permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The adoption of this ASU did not have a significant impact on the Company’s financial position or results of operations. In August 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-14, Revenue from Contracts with Customers—Deferral of the Effective Date. ASU 2015-14 defers the effective date of ASU 2014-09, Revenue from Contracts with Customers, which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, by one year. ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. Under ASU 2015-14, ASU 2014-09 is now effective for annual periods beginning after December 15, 2017 and interim periods within those years. The Company is currently evaluating the effects of ASU 2014-09 on its financial statements and disclosures, if any. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. ASU 2015-16 simplifies the accounting for measurement-period adjustments in a business combination by requiring the acquirer to recognize adjustments to provisional amounts identified during the measurement period in the reporting period in which the adjustments are determined, thereby eliminating the requirement to retrospectively account for those adjustments. The acquirer is also required to record in the reporting period in which the adjustments are determined the effect on earnings of changes in depreciation, amortization and other items resulting from the change to the provisional amounts. ASU 2015-16 is effective for annual periods beginning after December 31, 2015, with early application permitted, and applies to adjustments to provisional amounts that occur after the effective date. The Company did adopt this ASU during the first quarter of 2016 and applied its provisions to the adjustments to goodwill during the quarter ended March 31, 2016 as discussed in Note 7. In January 2016 the FASB issued ASU 2016-01 Financial Instruments: Recognition and Measurement of Financial Assets and Financial Liabilities. This will enhance the reporting model for financial instruments to provide users of financial statements with more decision-useful information. The ASU addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Some of the amendments include the following: 1) Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; 2)Simplify the impairment assessment of equity investment’s without readily determinable fair values by requiring a qualitative assessment to identify impairment; 3) Require public business entities to use exit price notion when measuring fair value of financial instruments for disclosure purposes; 4)Require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting in a change in the fair value of a liability resulting in a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value; among others. For public business entities, the amendments of this ASU are effective fiscal years beginning December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements. In February 2016 the FASB issued ASU 2016-02, Leases. This will require lessees to recognize assets and liabilities that arise from leases on the balance sheet. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right of use asset representing its right to use the underlying asset for lease term. The new guidance is effective for annual and interim reporting periods beginning December 15, 2018. The amendment should be applied at the beginning of the earliest period presented using a modified retrospective approach with earlier application permitted as of the beginning of an interim or annual reporting period. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Components of the Basic and Diluted Earnings Per Share | The reconciliation of the components of the basic and diluted earnings per share is as follows: For the Three Months Ended March 31, 2016 2015 Net earnings available to common shareholders $ 1,723 $ 959 Weighted average common shares outstanding 4,866,049 2,995,231 Dilutive effect of stock options 69,467 58,398 Dilutive effect of stock warrants 55,361 50,625 Diluted common shares 4,990,877 3,104,254 Basic earnings per common share $ 0.35 $ 0.32 Diluted earnings per common share $ 0.35 $ 0.31 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of Securities Available for Sale | Securities available-for-sale at March 31, 2016 and December 31, 2015 are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2016: Securities available-for-sale: Residential mortgage-backed $ 57,768 $ 431 $ (70 ) $ 58,129 U.S. govt. sponsored enterprises 22,807 201 (62 ) 22,946 State, county, and municipal 57,682 1,144 (184 ) 58,642 Corporate debt obligations 2,060 3 (22 ) 2,041 Totals $ 140,317 $ 1,779 $ (338 ) $ 141,758 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2015: Securities available-for-sale: Residential mortgage-backed $ 60,756 $ 224 $ (295 ) $ 60,685 U.S. govt. sponsored enterprises 22,985 114 (146 ) 22,953 State, county, and municipal 58,018 1,011 (6 ) 59,023 Corporate debt obligations 2,057 3 — 2,060 Totals $ 143,816 $ 1,352 $ (447 ) $ 144,721 |
Schedule of Details Concerning Investment Securities with Unrealized Losses | Details concerning investment securities with unrealized losses as of March 31, 2016 and December 31, 2015 are as follows: Less Than 12 Months More Than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2016: Securities available-for-sale: Residential mortgage-backed $ 14,547 $ 30 $ 1,792 $ 40 $ 16,339 $ 70 U.S. govt. sponsored enterprises 1,002 1 4,851 61 5,853 62 State, county & municipal 23,620 179 555 5 24,175 184 Corporate debt obligations 1,038 22 - - 1,038 22 Totals $ 40,207 $ 232 $ 7,198 $ 106 $ 47,405 $ 338 December 31, 2015: Securities available-for-sale: Residential mortgage-backed $ 20,841 $ 110 $ 10,937 $ 185 $ 31,778 $ 295 U.S. govt. sponsored enterprises 9,489 13 4,820 133 14,309 146 State, county & municipal - - 557 6 557 6 Totals $ 30,330 $ 123 $ 16,314 $ 324 $ 46,644 $ 447 |
Schedule of Amortized Cost and Estimated Fair value of Securities Available-for-Sale | The amortized cost and estimated fair value of securities available-for-sale at March 31, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities for residential mortgage backed securities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties. These securities are therefore not presented by maturity classification. Amortized Cost Fair Value (In Thousands) Securities available-for-sale Less than 1 year $ 6,050 $ 6,051 1 to 5 years 25,091 25,170 5 to 10 years 17,848 17,886 After 10 years 33,560 34,522 82,549 83,629 Residential mortgage-backed securities 57,768 58,129 Totals $ 140,317 $ 141,758 |
Loans, Allowance for Loan Los19
Loans, Allowance for Loan Losses and Credit Quality (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract] | |
Schedule of Major Classifications of Loans | Major classifications of loans at March 31, 2016 and December 31, 2015 are summarized as follows: March 31, 2016 December 31, 2015 Amount % of Total Amount % of Total Residential real estate: Closed-end 1-4 family - first lien $ 108,699 22.6 % $ 111,476 23.4 % Closed-end 1-4 family - junior lien 4,961 1.0 % 5,246 1.1 % Multi-family 17,547 3.7 % 17,553 3.7 % Equity lines of credit 32,365 6.8 % 32,969 6.9 % Total residential real estate 163,572 34.0 % 167,244 35.1 % Commercial real estate: Nonfarm nonresidential 149,019 31.1 % 149,597 31.5 % Farmland 14,242 3.0 % 15,456 3.3 % Total commercial real estate 163,261 34.1 % 165,053 34.8 % Construction and land development: Residential 24,231 5.1 % 21,302 4.5 % Other 36,645 7.6 % 34,459 7.2 % Total construction and land development 60,876 12.7 % 55,761 11.7 % Commercial loans: Other commercial loans 75,026 15.7 % 71,247 15.0 % Agricultural 893 0.2 % 946 0.2 % State, county, and municipal loans 7,044 1.5 % 7,414 1.6 % Total commercial loans 82,963 17.4 % 79,607 16.8 % Consumer loans 19,965 4.2 % 19,557 4.1 % Total gross loans 490,637 102.4 % 487,222 102.5 % Allowance for loan losses (4,071 ) -0.8 % (3,827 ) -0.8 % Net deferred loan fees and discounts (7,478 ) -1.6 % (7,951 ) -1.7 % Net loans $ 479,088 100.0 % $ 475,444 100.0 % |
Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method | The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method for the periods indicated: Real Estate Mortgage Loans Construction Home Equity and Land Lines Allowance for Loan Losses Residential Commercial Development Of Credit Commercial Consumer Total Balance - December 31, 2015 $ 368 $ 1,302 $ 569 $ 150 $ 1,250 $ 188 $ 3,827 Provision for loan losses 72 (165 ) 151 (34 ) 197 11 232 Loan charge-offs — — — — — (24 ) (24 ) Loan recoveries — — 4 7 10 15 36 Balance - March 31, 2016 $ 440 $ 1,137 $ 724 $ 123 $ 1,457 $ 190 $ 4,071 Ending balance: Individually evaluated for impairment $ 59 $ 501 $ 38 $ — $ 1,126 $ — $ 1,724 Collectively evaluated for impairment $ 381 $ 636 $ 686 $ 123 $ 331 $ 190 $ 2,347 Total $ 440 $ 1,137 $ 724 $ 123 $ 1,457 $ 190 $ 4,071 Loans: Individually evaluated for impairment $ 1,233 $ 2,232 $ 93 $ 100 $ 1,735 $ — $ 5,393 Collectively evaluated for impairment $ 129,974 $ 161,029 $ 60,783 $ 32,265 $ 81,228 $ 19,965 $ 485,244 Total $ 131,207 $ 163,261 $ 60,876 $ 32,365 $ 82,963 $ 19,965 $ 490,637 Real Estate Mortgage Loans Construction Home Equity and Land Lines Allowance for Loan Losses Residential Commercial Development Of Credit Commercial Consumer Total Balance - December 31, 2014 $ 304 $ 1,267 $ 627 $ 437 $ 652 $ 491 $ 3,778 Provision for loan losses (33 ) (59 ) (90 ) (7 ) 448 (120 ) 139 Loan charge-offs — — — — — (17 ) (17 ) Loan recoveries — — 1 — 12 12 25 Balance - March 31, 2015 $ 271 $ 1,208 $ 538 $ 430 $ 1,112 $ 366 $ 3,925 Ending balance: Individually evaluated for impairment $ — $ 583 $ 40 $ 333 $ 777 $ — $ 1,733 Collectively evaluated for impairment $ 271 $ 625 $ 498 $ 97 $ 335 $ 366 $ 2,192 Total $ 271 $ 1,208 $ 538 $ 430 $ 1,112 $ 366 $ 3,925 Loans: Individually evaluated for impairment $ 1,199 $ 2,540 $ 94 $ 333 $ 1,229 $ — $ 5,395 Collectively evaluated for impairment $ 59,508 $ 100,458 $ 26,612 $ 16,827 $ 57,099 $ 11,689 $ 272,193 Total $ 60,707 $ 102,998 $ 26,706 $ 17,160 $ 58,328 $ 11,689 $ 277,588 |
Summary of Impaired Loans by Class of Loans | The following table presents impaired loans by class of loans as of March 31, 2016. Total Impaired Loans Impaired Loans Impaired With No With Allowance for Nonaccruing Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 177 $ 177 $ — $ — Commercial real estate 1,416 1,039 377 198 Construction and land development — — — — Equity lines of credit — — — — Total mortgage loans on real estate 1,593 1,216 377 198 Commercial loans 1,021 — 1,021 536 Consumer loans — — — — Total Loans $ 2,614 $ 1,216 $ 1,398 $ 734 Total Impaired Loans Impaired Loans Impaired With No With Allowance for Accruing Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 1,056 $ 926 $ 130 $ 59 Commercial real estate 816 — 816 303 Construction and land development 93 — 93 38 Equity lines of credit 100 100 — — Total mortgage loans on real estate 2,065 1,026 1,039 400 Commercial loans 714 — 714 590 Consumer loans — — — — Total Loans $ 2,779 $ 1,026 $ 1,753 $ 990 Total Impaired Loans Impaired Loans Impaired With No With Allowance for Total Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 1,233 $ 1,103 $ 130 $ 59 Commercial real estate 2,232 1,039 1,193 501 Construction and land development 93 — 93 38 Equity lines of credit 100 100 — — Total mortgage loans on real estate 3,658 2,242 1,416 598 Commercial loans 1,735 — 1,735 1,126 Consumer loans — — — — Total Loans $ 5,393 $ 2,242 $ 3,151 $ 1,724 The following table presents impaired loans by class of loans as of December 31, 2015. Impaired Impaired Loans Total Impaired With No With Allowance for Nonaccruing Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 375 $ 375 $ — $ — Commercial real estate 1,415 1,050 365 188 Construction and land development — — — — Equity lines of credit — — — - Total mortgage loans on real estate 1,790 1,425 365 188 Commercial loans 1,021 — 1,021 491 Consumer loans — — — — Total Loans $ 2,811 $ 1,425 $ 1,386 $ 679 Impaired Loans Impaired Loans Total Impaired With No With Allowance for Accruing Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 1,069 $ 1,069 $ — $ — Commercial real estate 827 — 827 304 Construction and land development 100 — 100 45 Equity lines of credit 100 100 — — Total mortgage loans on real estate 2,096 1,169 927 349 Commercial loans 422 — 422 285 Consumer loans — — — — Total Loans $ 2,518 $ 1,169 $ 1,349 $ 634 Impaired Loans Impaired Loans Total Impaired With No With Allowance for Total Impaired Loans Loans Allowance Allowance Loan Losses Mortgage loans on real estate: Residential $ 1,444 $ 1,444 $ — $ — Commercial real estate 2,242 1,050 1,192 492 Construction and land development 100 — 100 45 Equity lines of credit 100 100 — — Total mortgage loans on real estate 3,886 2,594 1,292 537 Commercial loans 1,443 — 1,443 776 Consumer loans — — — — Total Loans $ 5,329 $ 2,594 $ 2,735 $ 1,313 |
Summary of Average Recorded Investment and Interest Income Recognized on Impaired Loans | The following table presents the average recorded investment in impaired loans and the interest income recognized on impaired loans in the three months ended March 31, 2016 and 2015 by loan category. Three Months Ended Three Months Ended March 31, 2016 March 31, 2015 Average Ending Average Ending Recorded Recorded Interest Recorded Recorded Interest Investment Investment Income Investment Investment Income Mortgage loans on real estate: Residential real estate $ 1,194 $ 1,233 $ 18 $ 1,211 $ 1,199 $ 16 Commercial real estate 2,697 2,232 9 2,371 2,540 28 Construction and land development 90 93 1 131 94 1 Equity lines of credit 100 100 1 347 333 — Total mortgage loans on real estate 4,081 3,658 29 4,060 4,166 45 Commercial loans 1,605 1,735 7 714 1,229 11 Consumer loans — — — 563 - — Total Loans $ 5,686 $ 5,393 $ 36 $ 5,337 $ 5,395 $ 56 |
Schedule of Aging of Loans and Non-Accrual Loan | The following tables present the aging of loans and non-accrual loan balances as of March 31, 2016 and December 31, 2015, by class of loans. Accruing Loans As of March 31, 2016 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 128,358 $ 2,249 $ 130 $ 470 $ 131,207 Commercial real estate 161,786 58 — 1,417 163,261 Construction and land development 60,750 45 21 60 60,876 Equity lines of credit 32,260 105 — — 32,365 Total mortgage loans on real estate 383,154 2,457 151 1,947 387,709 Commercial loans 80,909 1,014 - 1,040 82,963 Consumer loans 19,682 186 22 75 19,965 Total Loans $ 483,745 $ 3,657 $ 173 $ 3,062 $ 490,637 Accruing Loans As of December 31, 2015 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 131,608 $ 2,058 $ 129 $ 480 $ 134,275 Commercial real estate 163,638 — — 1,415 165,053 Construction and land development 55,676 21 — 64 55,761 Equity lines of credit 32,934 35 — — 32,969 Total mortgage loans on real estate 383,856 2,114 129 1,959 388,058 Commercial loans 78,282 249 17 1,059 79,607 Consumer loans 19,264 134 91 68 19,557 Total Loans $ 481,402 $ 2,497 $ 237 $ 3,086 $ 487,222 |
Schedule of Risk Category of Loans by Class of Loans | Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be Pass rated loans. As of March 31, 2016 and December 31, 2015, and based on the most recent analysis performed as of those dates, the risk category of loans by class of loans is as follows: Accruing Loans As of March 31, 2016 Pass Special Mention Substandard Nonaccrual Loans Total Mortgage loans on real estate: Residential $ 121,052 $ 6,596 $ 3,089 $ 470 $ 131,207 Commercial real estate 153,981 6,449 1,414 1,417 163,261 Construction and land development 59,485 593 738 60 60,876 Equity lines of credit 32,136 104 125 — 32,365 Total mortgage loans on real estate 366,654 13,742 5,366 1,947 387,709 Commercial loans 78,728 2,299 896 1,040 82,963 Consumer loans 19,435 291 164 75 19,965 Total Loans $ 464,817 $ 16,332 $ 6,426 $ 3,062 $ 490,637 Accruing Loans As of December 31, 2015 Pass Special Mention Substandard Nonaccrual Loans Total Mortgage loans on real estate: Residential $ 123,862 $ 6,765 $ 3,168 $ 480 $ 134,275 Commercial real estate 155,235 7,019 1,384 1,415 165,053 Construction and land development 54,083 845 769 64 55,761 Equity lines of credit 32,740 104 125 - 32,969 Total mortgage loans on real estate 365,920 14,733 5,446 1,959 388,058 Commercial loans 75,335 2,598 632 1,042 79,607 Consumer loans 18,924 428 137 68 19,557 Total Loans $ 460,179 $ 17,759 $ 6,215 $ 3,069 $ 487,222 |
Fair Value Measurements and D20
Fair Value Measurements and Disclosures (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The only assets and liabilities measured at fair value on a recurring basis are our securities available-for-sale. Information related to River’s assets and liabilities measured at fair value on a recurring basis at March 31, 2016 and December 31, 2015 is as follows: Fair Value Measurements At Reporting Date Using: March 31, 2016 Fair Value Quoted Prices In Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available-for-sale: Residential mortgage -backed $ 58,129 $ — $ 58,129 $ — U.S. government agencies 22,946 — 22,946 — State, county, and municipal 58,642 — 58,642 — Corporate obligations 2,041 — 1,389 652 Totals $ 141,758 $ — $ 141,106 $ 652 Fair Value Measurements At Reporting Date Using: December 31, 2015 Fair Value Quoted Prices In Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available-for-sale: Residential mortgage -backed $ 60,685 $ — $ 60,685 $ — U.S. government agencies 22,953 — 22,953 — State, county, and municipal 59,023 — 59,023 — Corporate obligations 2,060 — 1,408 652 Totals $ 144,721 $ — $ 144,069 $ 652 |
Schedule of Fair Value, Assets Measured on Non-Recurring Basis | The following table presents the financial instruments carried on the balance sheet by caption and by level in the fair value hierarchy, for which a non-recurring change in fair value has been recorded as of March 31, 2016 and December 31, 2015: Fair Value Measurements At Reporting Date Using: March 31, 2016 Fair Value Quoted Prices In Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 3,669 $ — $ — $ 3,669 Foreclosed assets 1,802 — — 1,802 Totals $ 5,471 $ — $ — $ 5,471 December 31, 2015 Fair Value Quoted Prices In Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 4,016 $ — $ — $ 4,016 Foreclosed assets 1,949 — — 1,949 Totals $ 5,965 $ — $ — $ 5,965 |
Summary of Estimated Fair values Related to Carrying, Notional Amounts of River's Financial Instruments | The estimated fair values, and related carrying or notional amounts, of River’s financial instruments as of March 31, 2016 and December 31, 2015 are as follows: Estimated Fair Value March 31, 2016 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 37,769 $ 37,769 $ — $ — Certificates of Deposit 5,971 — 5,971 — Securities Available for Sale 141,758 — 141,106 652 Loans held-for-sale 2,915 — 2,915 — Restricted Equity Securities 1,208 — — 1,208 Loans Receivable 479,088 — 489,718 — Bank Owned Life Insurance 14,837 — 14,837 — Financial Liabilities: Deposits 613,141 — 609,400 — Short Term Debt 11,258 — 11,258 — Federal Home Loan Bank Advances 10,750 — 10,752 — Note Payable 7,232 — 7,232 — Estimated Fair Value December 31, 2015 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 31,002 $ 31,002 $ — $ — Certificates of Deposit 6,070 — 6,070 — Securities Available for Sale 144,721 — 144,069 652 Loans held-for-sale 2,771 — 2,771 — Restricted Equity Securities 1,270 — — 1,270 Loans Receivable 475,444 — 475,892 — Bank Owned Life Insurance 14,731 — 14,731 — Financial Liabilities: Deposits 610,399 — 599,988 — Short Term Debt 10,166 — 10,166 — Federal Home Loan Bank Advances 10,500 — 10,492 — |
Earnings Per Share - Components
Earnings Per Share - Components of the Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Earnings Per Share [Abstract] | ||
Net earnings available to common shareholders | $ 1,723 | $ 959 |
Weighted average common shares outstanding | 4,866,049 | 2,995,231 |
Dilutive effect of stock options | 69,467 | 58,398 |
Dilutive effect of stock warrants | 55,361 | 50,625 |
Diluted common shares | 4,990,877 | 3,104,254 |
Basic earnings per common share | $ 0.35 | $ 0.32 |
Diluted earnings per common share | $ 0.35 | $ 0.31 |
Investment Securities - Schedul
Investment Securities - Schedule of Securities Available for Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | $ 140,317 | $ 143,816 |
Securities available-for-sale, Gross Unrealized Gains | 1,779 | 1,352 |
Securities available-for-sale, Gross Unrealized Losses | (338) | (447) |
Securities available-for-sale, Fair Value | 141,758 | 144,721 |
Residential Mortgage - Backed | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 57,768 | 60,756 |
Securities available-for-sale, Gross Unrealized Gains | 431 | 224 |
Securities available-for-sale, Gross Unrealized Losses | (70) | (295) |
Securities available-for-sale, Fair Value | 58,129 | 60,685 |
U.S. Govt. Sponsored Enterprises | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 22,807 | 22,985 |
Securities available-for-sale, Gross Unrealized Gains | 201 | 114 |
Securities available-for-sale, Gross Unrealized Losses | (62) | (146) |
Securities available-for-sale, Fair Value | 22,946 | 22,953 |
State, Country and Municipal | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 57,682 | 58,018 |
Securities available-for-sale, Gross Unrealized Gains | 1,144 | 1,011 |
Securities available-for-sale, Gross Unrealized Losses | (184) | (6) |
Securities available-for-sale, Fair Value | 58,642 | 59,023 |
Corporate Debt Obligations | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 2,060 | 2,057 |
Securities available-for-sale, Gross Unrealized Gains | 3 | 3 |
Securities available-for-sale, Gross Unrealized Losses | (22) | |
Securities available-for-sale, Fair Value | $ 2,041 | $ 2,060 |
Investment Securities - Sched23
Investment Securities - Schedule of Details Concerning Investment Securities with Unrealized Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 40,207 | $ 30,330 |
Less than 12 Months, Unrealized Losses | 232 | 123 |
More Than 12 Months, Fair Value | 7,198 | 16,314 |
More Than 12 Months, Unrealized Losses | 106 | 324 |
Total, Fair Value | 47,405 | 46,644 |
Total, Unrealized Losses | 338 | 447 |
Residential Mortgage - Backed | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 14,547 | 20,841 |
Less than 12 Months, Unrealized Losses | 30 | 110 |
More Than 12 Months, Fair Value | 1,792 | 10,937 |
More Than 12 Months, Unrealized Losses | 40 | 185 |
Total, Fair Value | 16,339 | 31,778 |
Total, Unrealized Losses | 70 | 295 |
U.S. Govt. Sponsored Enterprises | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 1,002 | 9,489 |
Less than 12 Months, Unrealized Losses | 1 | 13 |
More Than 12 Months, Fair Value | 4,851 | 4,820 |
More Than 12 Months, Unrealized Losses | 61 | 133 |
Total, Fair Value | 5,853 | 14,309 |
Total, Unrealized Losses | 62 | 146 |
State, Country and Municipal | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 23,620 | |
Less than 12 Months, Unrealized Losses | 179 | |
More Than 12 Months, Fair Value | 555 | 557 |
More Than 12 Months, Unrealized Losses | 5 | 6 |
Total, Fair Value | 24,175 | 557 |
Total, Unrealized Losses | 184 | $ 6 |
Corporate Debt Obligations | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 1,038 | |
Less than 12 Months, Unrealized Losses | 22 | |
Total, Fair Value | 1,038 | |
Total, Unrealized Losses | $ 22 |
Investment Securities - Additio
Investment Securities - Additional Information (Details) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016USD ($)Security | Mar. 31, 2015USD ($) | Dec. 31, 2015USD ($) | |
Investments Debt And Equity Securities [Abstract] | |||
Other-than-temporary impairments charged to earnings | $ 0 | $ 0 | |
Number of securities owned | Security | 110 | ||
Net unrealized loss | $ 338,000 | $ 447,000 | |
Proceeds from sale of available-for-sale securities | $ 0 | $ 3,425,000 | |
Realized investment gains | $ 5,000 |
Investment Securities - Sched25
Investment Securities - Schedule of Amortized Cost and Estimated Fair value of Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Securities available-for-sale | ||
Securities available-for-sale, Less than 1 year, Amortized Cost | $ 6,050 | |
Securities available-for-sale, 1 to 5 years, Amortized Cost | 25,091 | |
Securities available-for-sale, 5 to 10 years, Amortized Cost | 17,848 | |
Securities available-for-sale, After 10 years, Amortized Cost | 33,560 | |
Securities available-for-sale, before Residential mortgage-backed securities | 82,549 | |
Securities available-for-sale, Residential mortgage-backed securities | 140,317 | $ 143,816 |
Securities available-for-sale | ||
Securities available-for-sale, Less than 1 year, Fair Value | 6,051 | |
Securities available-for-sale, 1 to 5 years, Fair Value | 25,170 | |
Securities available-for-sale, 5 to 10 years, Fair Value | 17,886 | |
Securities available-for-sale, After 10 years, Fair Value | 34,522 | |
Securities available-for-sale, before Residential mortgage-backed securities Fair Value | 83,629 | |
Securities available-for-sale, Fair Value | 141,758 | 144,721 |
Residential Mortgage-Backed Securities | ||
Securities available-for-sale | ||
Securities available-for-sale, Residential mortgage-backed securities | 57,768 | 60,756 |
Securities available-for-sale | ||
Securities available-for-sale, Fair Value | $ 58,129 | $ 60,685 |
Loans, Allowance for Loan Los26
Loans, Allowance for Loan Losses and Credit Quality - Major Classifications of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 490,637 | $ 487,222 | $ 277,588 | |
Allowance for loan losses | (4,071) | (3,827) | (3,925) | $ (3,778) |
Net deferred loan fees and discounts | (7,478) | (7,951) | ||
Net loans | $ 479,088 | $ 475,444 | ||
Total gross loans percentage | 102.40% | 102.50% | ||
Allowance for loan losses percentage | (0.80%) | (0.80%) | ||
Net deferred loan fees and discounts percentage | (1.60%) | (1.70%) | ||
Net loans percentage | 100.00% | 100.00% | ||
Residential Real Estate | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 163,572 | $ 167,244 | ||
Total gross loans percentage | 34.00% | 35.10% | ||
Residential Real Estate | Closed-end 1-4 family - first lien | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 108,699 | $ 111,476 | ||
Total gross loans percentage | 22.60% | 23.40% | ||
Residential Real Estate | Closed-end 1-4 family - junior lien | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 4,961 | $ 5,246 | ||
Total gross loans percentage | 1.00% | 1.10% | ||
Residential Real Estate | Multi-family | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 17,547 | $ 17,553 | ||
Total gross loans percentage | 3.70% | 3.70% | ||
Residential Real Estate | Equity Lines of Credit | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 32,365 | $ 32,969 | ||
Total gross loans percentage | 6.80% | 6.90% | ||
Commercial Real Estate | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 163,261 | $ 165,053 | ||
Total gross loans percentage | 34.10% | 34.80% | ||
Commercial Real Estate | Nonfarm nonresidential | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 149,019 | $ 149,597 | ||
Total gross loans percentage | 31.10% | 31.50% | ||
Commercial Real Estate | Farmland | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 14,242 | $ 15,456 | ||
Total gross loans percentage | 3.00% | 3.30% | ||
Construction and Land Development | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 60,876 | $ 55,761 | ||
Total gross loans percentage | 12.70% | 11.70% | ||
Construction and Land Development | Residential | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 24,231 | $ 21,302 | ||
Total gross loans percentage | 5.10% | 4.50% | ||
Construction and Land Development | Other | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 36,645 | $ 34,459 | ||
Total gross loans percentage | 7.60% | 7.20% | ||
Commercial Loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 82,963 | $ 79,607 | 58,328 | |
Allowance for loan losses | $ (1,457) | $ (1,250) | (1,112) | (652) |
Total gross loans percentage | 17.40% | 16.80% | ||
Commercial Loans | Other commercial loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 75,026 | $ 71,247 | ||
Total gross loans percentage | 15.70% | 15.00% | ||
Commercial Loans | Agricultural | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 893 | $ 946 | ||
Total gross loans percentage | 0.20% | 0.20% | ||
Commercial Loans | State, county, and municipal loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 7,044 | $ 7,414 | ||
Total gross loans percentage | 1.50% | 1.60% | ||
Consumer Loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 19,965 | $ 19,557 | 11,689 | |
Allowance for loan losses | $ (190) | $ (188) | $ (366) | $ (491) |
Total gross loans percentage | 4.20% | 4.10% |
Loans, Allowance for Loan Los27
Loans, Allowance for Loan Losses and Credit Quality - Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | |
Allowance for Loan Losses | |||||
Beginning Balance | $ 3,827 | $ 3,778 | |||
Provision for loan losses | 232 | 139 | |||
Loan charge-offs | (24) | (17) | |||
Loan recoveries | 36 | 25 | |||
Ending Balance | 4,071 | 3,925 | |||
Ending Balance, Individually evaluated for impairment | $ 1,724 | $ 1,733 | |||
Ending Balance, Collectively evaluated for impairment | 2,347 | 2,192 | |||
Total | 4,071 | 3,778 | 4,071 | $ 3,827 | 3,925 |
Loans, Individually evaluated for impairment | 5,393 | 5,395 | |||
Loans, Collectively evaluated for impairment | 485,244 | 272,193 | |||
Total Loans | 490,637 | 487,222 | 277,588 | ||
Residential | |||||
Allowance for Loan Losses | |||||
Total Loans | 163,572 | 167,244 | |||
Residential | Equity Lines of Credit | |||||
Allowance for Loan Losses | |||||
Total Loans | 32,365 | 32,969 | |||
Commercial | |||||
Allowance for Loan Losses | |||||
Total Loans | 163,261 | 165,053 | |||
Construction and Land Development | |||||
Allowance for Loan Losses | |||||
Total Loans | 60,876 | 55,761 | |||
Commercial Loans | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 1,250 | 652 | |||
Provision for loan losses | 197 | 448 | |||
Loan recoveries | 10 | 12 | |||
Ending Balance | 1,457 | 1,112 | |||
Ending Balance, Individually evaluated for impairment | 1,126 | 777 | |||
Ending Balance, Collectively evaluated for impairment | 331 | 335 | |||
Total | 1,250 | 652 | 1,457 | 1,250 | 1,112 |
Loans, Individually evaluated for impairment | 1,735 | 1,229 | |||
Loans, Collectively evaluated for impairment | 81,228 | 57,099 | |||
Total Loans | 82,963 | 79,607 | 58,328 | ||
Consumer Loans | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 188 | 491 | |||
Provision for loan losses | 11 | (120) | |||
Loan charge-offs | (24) | (17) | |||
Loan recoveries | 15 | 12 | |||
Ending Balance | 190 | 366 | |||
Ending Balance, Collectively evaluated for impairment | 190 | 366 | |||
Total | 188 | 491 | 190 | 188 | 366 |
Loans, Collectively evaluated for impairment | 19,965 | 11,689 | |||
Total Loans | 19,965 | 19,557 | 11,689 | ||
Real Estate Mortgage Loans | |||||
Allowance for Loan Losses | |||||
Total Loans | 387,709 | 388,058 | |||
Real Estate Mortgage Loans | Equity Lines of Credit | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 150 | 437 | |||
Provision for loan losses | (34) | (7) | |||
Loan recoveries | 7 | ||||
Ending Balance | 123 | 430 | |||
Ending Balance, Individually evaluated for impairment | 333 | ||||
Ending Balance, Collectively evaluated for impairment | 123 | 97 | |||
Total | 150 | 437 | 123 | 150 | 430 |
Loans, Individually evaluated for impairment | 100 | 333 | |||
Loans, Collectively evaluated for impairment | 32,265 | 16,827 | |||
Total Loans | 32,365 | 32,969 | 17,160 | ||
Real Estate Mortgage Loans | Residential | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 368 | 304 | |||
Provision for loan losses | 72 | (33) | |||
Ending Balance | 440 | 271 | |||
Ending Balance, Individually evaluated for impairment | 59 | ||||
Ending Balance, Collectively evaluated for impairment | 381 | 271 | |||
Total | 368 | 304 | 440 | 368 | 271 |
Loans, Individually evaluated for impairment | 1,233 | 1,199 | |||
Loans, Collectively evaluated for impairment | 129,974 | 59,508 | |||
Total Loans | 131,207 | 134,275 | 60,707 | ||
Real Estate Mortgage Loans | Commercial | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 1,302 | 1,267 | |||
Provision for loan losses | (165) | (59) | |||
Ending Balance | 1,137 | 1,208 | |||
Ending Balance, Individually evaluated for impairment | 501 | 583 | |||
Ending Balance, Collectively evaluated for impairment | 636 | 625 | |||
Total | 1,302 | 1,267 | 1,137 | 1,302 | 1,208 |
Loans, Individually evaluated for impairment | 2,232 | 2,540 | |||
Loans, Collectively evaluated for impairment | 161,029 | 100,458 | |||
Total Loans | 163,261 | 165,053 | 102,998 | ||
Real Estate Mortgage Loans | Construction and Land Development | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 569 | 627 | |||
Provision for loan losses | 151 | (90) | |||
Loan recoveries | 4 | 1 | |||
Ending Balance | 724 | 538 | |||
Ending Balance, Individually evaluated for impairment | 38 | 40 | |||
Ending Balance, Collectively evaluated for impairment | 686 | 498 | |||
Total | $ 569 | $ 627 | 724 | 569 | 538 |
Loans, Individually evaluated for impairment | 93 | 94 | |||
Loans, Collectively evaluated for impairment | 60,783 | 26,612 | |||
Total Loans | $ 60,876 | $ 55,761 | $ 26,706 |
Loans, Allowance for Loan Los28
Loans, Allowance for Loan Losses and Credit Quality - Summary of Impaired Loans by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | $ 5,393 | $ 5,329 | $ 5,395 |
Impaired Loans With No Allowance | 2,242 | 2,594 | |
Impaired Loans With Allowance | 3,151 | 2,735 | |
Allowance for Loan Losses | 1,724 | 1,313 | |
Commercial Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 1,735 | 1,443 | 1,229 |
Impaired Loans With Allowance | 1,735 | 1,443 | |
Allowance for Loan Losses | 1,126 | 776 | |
Mortgage Loans on Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 3,658 | 3,886 | 4,166 |
Impaired Loans With No Allowance | 2,242 | 2,594 | |
Impaired Loans With Allowance | 1,416 | 1,292 | |
Allowance for Loan Losses | 598 | 537 | |
Mortgage Loans on Real Estate | Equity Lines of Credit | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 100 | 100 | 333 |
Impaired Loans With No Allowance | 100 | 100 | |
Mortgage Loans on Real Estate | Residential | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 1,233 | 1,444 | 1,199 |
Impaired Loans With No Allowance | 1,103 | 1,444 | |
Impaired Loans With Allowance | 130 | ||
Allowance for Loan Losses | 59 | ||
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 2,232 | 2,242 | 2,540 |
Impaired Loans With No Allowance | 1,039 | 1,050 | |
Impaired Loans With Allowance | 1,193 | 1,192 | |
Allowance for Loan Losses | 501 | 492 | |
Mortgage Loans on Real Estate | Construction and Land Development | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 93 | 100 | $ 94 |
Impaired Loans With Allowance | 93 | 100 | |
Allowance for Loan Losses | 38 | 45 | |
Nonaccruing Impaired Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 2,614 | 2,811 | |
Impaired Loans With No Allowance | 1,216 | 1,425 | |
Impaired Loans With Allowance | 1,398 | 1,386 | |
Allowance for Loan Losses | 734 | 679 | |
Nonaccruing Impaired Loans | Commercial Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 1,021 | 1,021 | |
Impaired Loans With Allowance | 1,021 | 1,021 | |
Allowance for Loan Losses | 536 | 491 | |
Nonaccruing Impaired Loans | Mortgage Loans on Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 1,593 | 1,790 | |
Impaired Loans With No Allowance | 1,216 | 1,425 | |
Impaired Loans With Allowance | 377 | 365 | |
Allowance for Loan Losses | 198 | 188 | |
Nonaccruing Impaired Loans | Mortgage Loans on Real Estate | Residential | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 177 | 375 | |
Impaired Loans With No Allowance | 177 | 375 | |
Nonaccruing Impaired Loans | Mortgage Loans on Real Estate | Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 1,416 | 1,415 | |
Impaired Loans With No Allowance | 1,039 | 1,050 | |
Impaired Loans With Allowance | 377 | 365 | |
Allowance for Loan Losses | 198 | 188 | |
Accruing Impaired Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 2,779 | 2,518 | |
Impaired Loans With No Allowance | 1,026 | 1,169 | |
Impaired Loans With Allowance | 1,753 | 1,349 | |
Allowance for Loan Losses | 990 | 634 | |
Accruing Impaired Loans | Commercial Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 714 | 422 | |
Impaired Loans With Allowance | 714 | 422 | |
Allowance for Loan Losses | 590 | 285 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 2,065 | 2,096 | |
Impaired Loans With No Allowance | 1,026 | 1,169 | |
Impaired Loans With Allowance | 1,039 | 927 | |
Allowance for Loan Losses | 400 | 349 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | Equity Lines of Credit | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 100 | 100 | |
Impaired Loans With No Allowance | 100 | 100 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | Residential | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 1,056 | 1,069 | |
Impaired Loans With No Allowance | 926 | 1,069 | |
Impaired Loans With Allowance | 130 | ||
Allowance for Loan Losses | 59 | ||
Accruing Impaired Loans | Mortgage Loans on Real Estate | Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 816 | 827 | |
Impaired Loans With Allowance | 816 | 827 | |
Allowance for Loan Losses | 303 | 304 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | Construction and Land Development | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 93 | 100 | |
Impaired Loans With Allowance | 93 | 100 | |
Allowance for Loan Losses | $ 38 | $ 45 |
Loans, Allowance for Loan Los29
Loans, Allowance for Loan Losses and Credit Quality - Summary of Average Recorded Investment and Interest Income recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | $ 5,686 | $ 5,337 | |
Impaired loans, Ending recorded investment | 5,393 | 5,395 | $ 5,329 |
Impaired loans, Interest income | 36 | 56 | |
Commercial Loans | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 1,605 | 714 | |
Impaired loans, Ending recorded investment | 1,735 | 1,229 | 1,443 |
Impaired loans, Interest income | 7 | 11 | |
Consumer Loans | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 563 | ||
Mortgage Loans on Real Estate | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 4,081 | 4,060 | |
Impaired loans, Ending recorded investment | 3,658 | 4,166 | 3,886 |
Impaired loans, Interest income | 29 | 45 | |
Mortgage Loans on Real Estate | Equity Lines of Credit | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 100 | 347 | |
Impaired loans, Ending recorded investment | 100 | 333 | 100 |
Impaired loans, Interest income | 1 | ||
Mortgage Loans on Real Estate | Residential Real Estate | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 1,194 | 1,211 | |
Impaired loans, Ending recorded investment | 1,233 | 1,199 | 1,444 |
Impaired loans, Interest income | 18 | 16 | |
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 2,697 | 2,371 | |
Impaired loans, Ending recorded investment | 2,232 | 2,540 | 2,242 |
Impaired loans, Interest income | 9 | 28 | |
Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 90 | 131 | |
Impaired loans, Ending recorded investment | 93 | 94 | $ 100 |
Impaired loans, Interest income | $ 1 | $ 1 |
Loans, Allowance for Loan Los30
Loans, Allowance for Loan Losses and Credit Quality - Summary of Aging of Loans and Non-accrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | $ 483,745 | $ 481,402 | |
Nonaccrual Loans | 3,062 | 3,086 | |
Total Loans | 490,637 | 487,222 | $ 277,588 |
Residential | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 163,572 | 167,244 | |
Residential | Equity Lines of Credit | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 32,365 | 32,969 | |
Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 163,261 | 165,053 | |
Construction and Land Development | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 60,876 | 55,761 | |
Commercial Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 80,909 | 78,282 | |
Nonaccrual Loans | 1,040 | 1,059 | |
Total Loans | 82,963 | 79,607 | 58,328 |
Consumer Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 19,682 | 19,264 | |
Nonaccrual Loans | 75 | 68 | |
Total Loans | 19,965 | 19,557 | 11,689 |
Mortgage Loans on Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 383,154 | 383,856 | |
Nonaccrual Loans | 1,947 | 1,959 | |
Total Loans | 387,709 | 388,058 | |
Mortgage Loans on Real Estate | Equity Lines of Credit | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 32,260 | 32,934 | |
Total Loans | 32,365 | 32,969 | 17,160 |
Mortgage Loans on Real Estate | Residential | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 128,358 | 131,608 | |
Nonaccrual Loans | 470 | 480 | |
Total Loans | 131,207 | 134,275 | 60,707 |
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 161,786 | 163,638 | |
Nonaccrual Loans | 1,417 | 1,415 | |
Total Loans | 163,261 | 165,053 | 102,998 |
Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 60,750 | 55,676 | |
Nonaccrual Loans | 60 | 64 | |
Total Loans | 60,876 | 55,761 | $ 26,706 |
Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 3,657 | 2,497 | |
Past Due 30-89 Days | Commercial Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 1,014 | 249 | |
Past Due 30-89 Days | Consumer Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 186 | 134 | |
Past Due 30-89 Days | Mortgage Loans on Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 2,457 | 2,114 | |
Past Due 30-89 Days | Mortgage Loans on Real Estate | Equity Lines of Credit | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 105 | 35 | |
Past Due 30-89 Days | Mortgage Loans on Real Estate | Residential | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 2,249 | 2,058 | |
Past Due 30-89 Days | Mortgage Loans on Real Estate | Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 58 | ||
Past Due 30-89 Days | Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 45 | 21 | |
Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 173 | 237 | |
Past Due 90 Days or More | Commercial Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 17 | ||
Past Due 90 Days or More | Consumer Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 22 | 91 | |
Past Due 90 Days or More | Mortgage Loans on Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 151 | 129 | |
Past Due 90 Days or More | Mortgage Loans on Real Estate | Residential | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 130 | $ 129 | |
Past Due 90 Days or More | Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | $ 21 |
Loans, Allowance for Loan Los31
Loans, Allowance for Loan Losses and Credit Quality - Summary of Risk Category of Loans by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 490,637 | $ 487,222 | $ 277,588 |
Accruing Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 464,817 | 460,179 | |
Accruing Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 16,332 | 17,759 | |
Accruing Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 6,426 | 6,215 | |
Nonaccrual Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 3,062 | 3,069 | |
Residential | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 163,572 | 167,244 | |
Residential | Equity Lines of Credit | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 32,365 | 32,969 | |
Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 163,261 | 165,053 | |
Construction and Land Development | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 60,876 | 55,761 | |
Commercial Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 82,963 | 79,607 | 58,328 |
Commercial Loans | Accruing Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 78,728 | 75,335 | |
Commercial Loans | Accruing Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,299 | 2,598 | |
Commercial Loans | Accruing Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 896 | 632 | |
Commercial Loans | Nonaccrual Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,040 | 1,042 | |
Consumer Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 19,965 | 19,557 | 11,689 |
Consumer Loans | Accruing Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 19,435 | 18,924 | |
Consumer Loans | Accruing Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 291 | 428 | |
Consumer Loans | Accruing Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 164 | 137 | |
Consumer Loans | Nonaccrual Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 75 | 68 | |
Mortgage Loans on Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 387,709 | 388,058 | |
Mortgage Loans on Real Estate | Equity Lines of Credit | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 32,365 | 32,969 | 17,160 |
Mortgage Loans on Real Estate | Accruing Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 366,654 | 365,920 | |
Mortgage Loans on Real Estate | Accruing Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 13,742 | 14,733 | |
Mortgage Loans on Real Estate | Accruing Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 5,366 | 5,446 | |
Mortgage Loans on Real Estate | Accruing Loans | Equity Lines of Credit | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 32,136 | 32,740 | |
Mortgage Loans on Real Estate | Accruing Loans | Equity Lines of Credit | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 104 | 104 | |
Mortgage Loans on Real Estate | Accruing Loans | Equity Lines of Credit | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 125 | 125 | |
Mortgage Loans on Real Estate | Nonaccrual Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,947 | 1,959 | |
Mortgage Loans on Real Estate | Residential | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 131,207 | 134,275 | 60,707 |
Mortgage Loans on Real Estate | Residential | Accruing Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 121,052 | 123,862 | |
Mortgage Loans on Real Estate | Residential | Accruing Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 6,596 | 6,765 | |
Mortgage Loans on Real Estate | Residential | Accruing Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 3,089 | 3,168 | |
Mortgage Loans on Real Estate | Residential | Nonaccrual Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 470 | 480 | |
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 163,261 | 165,053 | 102,998 |
Mortgage Loans on Real Estate | Commercial Real Estate | Accruing Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 153,981 | 155,235 | |
Mortgage Loans on Real Estate | Commercial Real Estate | Accruing Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 6,449 | 7,019 | |
Mortgage Loans on Real Estate | Commercial Real Estate | Accruing Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,414 | 1,384 | |
Mortgage Loans on Real Estate | Commercial Real Estate | Nonaccrual Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,417 | 1,415 | |
Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 60,876 | 55,761 | $ 26,706 |
Mortgage Loans on Real Estate | Construction and Land Development | Accruing Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 59,485 | 54,083 | |
Mortgage Loans on Real Estate | Construction and Land Development | Accruing Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 593 | 845 | |
Mortgage Loans on Real Estate | Construction and Land Development | Accruing Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 738 | 769 | |
Mortgage Loans on Real Estate | Construction and Land Development | Nonaccrual Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 60 | $ 64 |
Fair Value Measurement and Disc
Fair Value Measurement and Disclosures - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 141,758 | $ 144,721 |
State, Country and Municipal | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 58,642 | 59,023 |
Recurring Basis | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 141,758 | 144,721 |
Recurring Basis | Residential Mortgage -Backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 58,129 | 60,685 |
Recurring Basis | US Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 22,946 | 22,953 |
Recurring Basis | State, Country and Municipal | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 58,642 | 59,023 |
Recurring Basis | Corporate Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 2,041 | 2,060 |
Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 141,106 | 144,069 |
Recurring Basis | Significant Other Observable Inputs (Level 2) | Residential Mortgage -Backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 58,129 | 60,685 |
Recurring Basis | Significant Other Observable Inputs (Level 2) | US Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 22,946 | 22,953 |
Recurring Basis | Significant Other Observable Inputs (Level 2) | State, Country and Municipal | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 58,642 | 59,023 |
Recurring Basis | Significant Other Observable Inputs (Level 2) | Corporate Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,389 | 1,408 |
Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 652 | 652 |
Recurring Basis | Significant Unobservable Inputs (Level 3) | Corporate Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 652 | $ 652 |
Fair Value Measurement and Di33
Fair Value Measurement and Disclosures - Schedule of Fair Value, Assets Measured on Non-Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 5,471 | $ 5,965 |
Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 5,471 | 5,965 |
Impaired Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 3,669 | 4,016 |
Impaired Loans | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 3,669 | 4,016 |
Foreclosed Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 1,802 | 1,949 |
Foreclosed Assets | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 1,802 | $ 1,949 |
Fair Value Measurement and Di34
Fair Value Measurement and Disclosures - Summary of Estimated Fair Values Related to Carrying, Notional Amounts of River's Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financial assets: | ||
Securities available-for-sale | $ 141,758 | $ 144,721 |
Bank owned life insurance | 14,837 | 14,731 |
Carrying Amount | ||
Financial assets: | ||
Cash and cash equivalents | 37,769 | 31,002 |
Certificates of Deposit | 5,971 | 6,070 |
Securities available-for-sale | 141,758 | 144,721 |
Loans held-for-sale | 2,915 | 2,771 |
Restricted Equity Securities | 1,208 | 1,270 |
Loans Receivable | 479,088 | 475,444 |
Bank owned life insurance | 14,837 | 14,731 |
Financial Liabilities: | ||
Deposits | 613,141 | 610,399 |
Short Term Debt | 11,258 | 10,166 |
Federal Home Loan Bank Advances | 10,750 | 10,500 |
Note Payable | 7,232 | |
Estimate Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Financial assets: | ||
Cash and cash equivalents | 37,769 | 31,002 |
Estimate Fair Value | Significant Other Observable Inputs (Level 2) | ||
Financial assets: | ||
Certificates of Deposit | 5,971 | 6,070 |
Securities available-for-sale | 141,106 | 144,069 |
Loans held-for-sale | 2,915 | 2,771 |
Loans Receivable | 489,718 | 475,892 |
Bank owned life insurance | 14,837 | 14,731 |
Financial Liabilities: | ||
Deposits | 609,400 | 599,988 |
Short Term Debt | 11,258 | 10,166 |
Federal Home Loan Bank Advances | 10,752 | 10,492 |
Note Payable | 7,232 | |
Estimate Fair Value | Significant Unobservable Inputs (Level 3) | ||
Financial assets: | ||
Securities available-for-sale | 652 | 652 |
Restricted Equity Securities | $ 1,208 | $ 1,270 |
Acquisition - Additional Inform
Acquisition - Additional Information (Detail) - Keystone Bancshares, Inc. - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2015 | Mar. 31, 2016 |
Business Acquisition [Line Items] | ||
Shares of river common stock issued for each outstanding share of keystone common stock upon merger | 100.00% | |
Cash paid for each outstanding share of keystone common stock upon merger | $ 4 | |
Option to acquire shares of river common stock | 1.25 | |
Shares issuable up on closing of merger | 1,818,492 | |
Cash payments to keystone shareholders | $ 7,274 | |
Fair value of stock options and stock warrants assumed, adjustments to acquisition value | $ 640 | |
Increase to additional paid in capital | 640 | |
Corresponding increase in goodwill due to fair value adjustments | $ 640 |