Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 02, 2017 | |
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 | 5,090,024 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 11,644 | $ 17,329 |
Interest-bearing deposits in banks | 6,276 | 25,170 |
Cash and cash equivalents | 17,920 | 42,499 |
Certificates of deposit in banks | 5,214 | 5,463 |
Securities available-for-sale | 203,969 | 183,361 |
Loans held for sale | 4,278 | 7,734 |
Loans, net of deferred fees and discounts | 523,289 | 516,441 |
Less allowance for loan losses | (5,004) | (4,007) |
Net loans | 518,285 | 512,434 |
Premises and equipment, net | 22,003 | 21,472 |
Accrued interest receivable | 2,322 | 2,376 |
Bank owned life insurance | 15,067 | 15,161 |
Foreclosed assets | 1,485 | 1,151 |
Deferred income taxes | 2,525 | 3,352 |
Core deposit intangible | 1,691 | 2,119 |
Goodwill | 10,050 | 10,050 |
Other assets | 4,361 | 3,245 |
Total assets | 809,170 | 810,417 |
Liabilities and Shareholders' Equity | ||
Noninterest-bearing deposits | 165,897 | 185,270 |
Interest-bearing deposits | 516,776 | 519,643 |
Total deposits | 682,673 | 704,913 |
Securities sold under agreements to repurchase | 12,608 | 13,034 |
Federal Home Loan Bank advances | 15,000 | |
Note payable | 5,625 | 6,428 |
Accrued interest payable and other liabilities | 3,601 | 3,592 |
Total liabilities | 719,507 | 727,967 |
Common stock related to 401(k) Employee Stock Ownership Plan | 734 | 623 |
Stockholders' Equity: | ||
Common stock ($1 par value; 10,000,000 shares authorized; 5,113,951 and 5,090,901 shares issued; 5,098,034 and 5,080,857 shares outstanding, respectively) | 5,114 | 5,091 |
Additional paid in capital | 64,924 | 64,656 |
Retained earnings | 20,660 | 15,032 |
Accumulated other comprehensive loss | (664) | (2,153) |
Treasury stock at cost (15,917 and 10,044 shares, respectively) | (371) | (176) |
Common stock related to 401(k) Employee Stock Ownership Plan | (734) | (623) |
Total stockholders' equity | 88,929 | 81,827 |
Total equity | 89,663 | 82,450 |
Total liabilities and stockholders' equity | $ 809,170 | $ 810,417 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Parenthetical) - $ / shares | Sep. 30, 2017 | Dec. 31, 2016 |
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 | 5,113,951 | 5,090,901 |
Common stock, shares outstanding | 5,098,034 | 5,080,857 |
Treasury stock, shares | 15,917 | 10,044 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest income: | ||||
Loans, including fees | $ 7,097 | $ 7,016 | $ 20,858 | $ 20,283 |
Taxable securities | 756 | 432 | 2,226 | 1,222 |
Nontaxable securities | 278 | 279 | 843 | 822 |
Federal funds sold | 15 | 29 | ||
Other interest income | 46 | 49 | 157 | 147 |
Total interest income | 8,177 | 7,791 | 24,084 | 22,503 |
Interest expense: | ||||
Deposits | 587 | 521 | 1,653 | 1,537 |
Short-term borrowings | 12 | 4 | 34 | 11 |
Federal Home Loan Bank advances | 32 | 5 | 57 | 35 |
Note payable | 64 | 62 | 188 | 190 |
Total interest expense | 695 | 592 | 1,932 | 1,773 |
Net interest income | 7,482 | 7,199 | 22,152 | 20,730 |
Provision for loan losses | 660 | 215 | 1,380 | 662 |
Net interest income after provision for loan losses | 6,822 | 6,984 | 20,772 | 20,068 |
Noninterest income: | ||||
Service charges and fees | 746 | 633 | 2,159 | 1,826 |
Investment brokerage revenue | 18 | 48 | 49 | 182 |
Mortgage operations | 516 | 437 | 1,410 | 982 |
Bank owned life insurance income | 769 | 109 | 976 | 323 |
Net gain on sale of investment securities | 3 | 14 | ||
Other noninterest income | 120 | 112 | 251 | 257 |
Total noninterest income | 2,169 | 1,339 | 4,848 | 3,584 |
Noninterest expense: | ||||
Salaries and employee benefits | 3,123 | 2,876 | 8,791 | 8,089 |
Occupancy expenses | 367 | 345 | 1,051 | 968 |
Equipment rentals, depreciation, and maintenance | 233 | 111 | 630 | 580 |
Telephone and communications | 63 | 42 | 202 | 166 |
Advertising and business development | 179 | 70 | 538 | 274 |
Data processing | 416 | 410 | 1,289 | 1,325 |
Foreclosed assets, net | 66 | (76) | 137 | 23 |
Federal deposit insurance and other regulatory assessments | 76 | 113 | 251 | 335 |
Legal and other professional services | 122 | 196 | 382 | 624 |
Other operating expense | 903 | 1,006 | 2,510 | 2,718 |
Total noninterest expense | 5,548 | 5,093 | 15,781 | 15,102 |
Income before income taxes | 3,443 | 3,230 | 9,839 | 8,550 |
Provision for income taxes | 880 | 1,014 | 2,939 | 2,630 |
Net income | $ 2,563 | $ 2,216 | $ 6,900 | $ 5,920 |
Basic net earnings per common share | $ 0.50 | $ 0.44 | $ 1.35 | $ 1.18 |
Diluted net earnings per common share | $ 0.49 | $ 0.43 | 1.33 | 1.17 |
Dividends per common share | $ 0.25 | $ 0.16 |
Unaudited Consolidated Stateme5
Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 2,563 | $ 2,216 | $ 6,900 | $ 5,920 |
Investment securities available-for-sale: | ||||
Net unrealized gains (losses) | (191) | (270) | 2,363 | 774 |
Reclassification adjustments for net gains realized in net income | (3) | (14) | ||
Income tax effect | 70 | 101 | (871) | (280) |
Other comprehensive income (loss) | (121) | (169) | 1,489 | 480 |
Comprehensive income | $ 2,442 | $ 2,047 | $ 8,389 | $ 6,400 |
Unaudited Consolidated Stateme6
Unaudited Consolidated Statements of Changes in Shareholders' Equity - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands | Total | Common Stock | Additional Paid In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Common Stock Related to KSOP |
Balance at Dec. 31, 2016 | $ 81,827 | $ 5,091 | $ 64,656 | $ 15,032 | $ (2,153) | $ (176) | $ (623) |
Net income | 6,900 | 6,900 | |||||
Other comprehensive income | 1,489 | 1,489 | |||||
Exercise of stock options and warrants | 263 | 19 | 136 | 108 | |||
Purchase of treasury stock | (407) | (407) | |||||
Sale of treasury shares | 113 | 9 | 104 | ||||
Issuance of common stock | 85 | 4 | 81 | ||||
Dividends declared | (1,272) | (1,272) | |||||
Stock compensation expense | 42 | 42 | |||||
Change for KSOP related shares | (111) | (111) | |||||
Balance at Sep. 30, 2017 | $ 88,929 | $ 5,114 | $ 64,924 | $ 20,660 | $ (664) | $ (371) | $ (734) |
Unaudited Consolidated Stateme7
Unaudited Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) | 9 Months Ended |
Sep. 30, 2017$ / sharesshares | |
Statement Of Stockholders Equity [Abstract] | |
Exercise of stock options and warrants, shares | 25,096 |
Purchase of treasury stock | 17,674 |
Sale of treasury shares | 5,551 |
Issuance of common stock, Shares | 4,204 |
Dividends declared, per share | $ / shares | $ 0.25 |
Unaudited Consolidated Stateme8
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash Flows From (Used For) Operating Activities: | ||
Net income | $ 6,900 | $ 5,920 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Provision for loan losses | 1,380 | 662 |
Provision for losses on foreclosed assets | 115 | 135 |
Amortization of securities available-for-sale | 1,723 | 1,251 |
Accretion of securities available-for-sale | (24) | (24) |
Realized net gain on securities available-for-sale | (3) | (14) |
Accretion of discount on acquired loans | (1,896) | (1,744) |
Amortization of deferred loan fees | (784) | (790) |
Amortization of core deposit intangible asset | 428 | 491 |
Stock compensation expense | 42 | 43 |
Bank owned life insurance income | (976) | (323) |
Depreciation and amortization of premises and equipment | 702 | 630 |
Gain on sale of foreclosed assets | (55) | (133) |
Deferred income tax (benefit) | (43) | 563 |
(Increase) decrease in operating assets and (decrease) increase in operating liabilities: | ||
Loans held-for-sale | 3,456 | (3,232) |
Accrued interest receivable | 54 | 125 |
Other assets | (395) | 237 |
Accrued interest payable and other liabilities | (41) | (1,591) |
Net cash from operating activities | 10,583 | 2,206 |
Cash Flows From (Used For) Investing Activities: | ||
Maturity of certificate of deposit | 498 | |
Purchase of certificate of deposit | (249) | |
Sales | 13,246 | 10,115 |
Maturities, payments, calls | 19,396 | 18,391 |
Purchases | (52,587) | (55,347) |
Loan principal originations, net | (6,962) | (18,501) |
Proceeds from sale of foreclosed assets | 2,017 | 1,055 |
Payment to Keystone shareholders | (7,274) | |
Purchases of premises and equipment | (1,183) | (1,204) |
(Purchase) sale of restricted equity securities, net | (721) | 349 |
Proceeds from bank owned life insurance | 1,070 | |
Net cash used for investing activities | (25,475) | (52,416) |
Cash Flows From (Used For) Financing Activities: | ||
Net (decrease) increase in deposits | (22,240) | 50,770 |
Net decrease in securities sold under agreements to repurchase | (426) | (113) |
Proceeds from Federal Home Loan Bank advances | 40,000 | 6,750 |
Repayment of Federal Home Loan Bank advances | (25,000) | (15,250) |
Proceeds from issuance of note payable | 7,500 | |
Repayment of note payable | (803) | (804) |
Proceeds from issuance of common stock | 85 | 131 |
Proceeds from exercise of common stock options and warrants | 263 | 2,506 |
Purchase of treasury stock | (407) | (354) |
Sale of treasury stock | 113 | 26 |
Cash dividends | (1,272) | (812) |
Net cash from (used for) financing activities | (9,687) | 50,350 |
Net Change In Cash And Cash Equivalents | (24,579) | 140 |
Cash and Cash Equivalents At Beginning Of Period | 42,499 | 31,002 |
Cash and Cash Equivalents At End Of Period | 17,920 | 31,142 |
Cash Payments For: | ||
Interest paid to depositors | 1,771 | 1,727 |
Interest paid on borrowings | 271 | 237 |
Income taxes | 2,874 | $ 1,825 |
Non-cash investing and financing activities: | ||
Transfer of loans to foreclosed assets | $ 2,411 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2017 | |
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, Lee and Etowah counties 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 statements of financial condition, statements of income, statements of comprehensive income, statements of changes in 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, 2016, which are contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. 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, investment securities impairment, assessment of deferred tax assets and liabilities, and business combination related fair value estimates, 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 | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Reclassifications | Note 2 – Reclassifications Certain prior period amounts have been reclassified to conform to the presentation used in 2017. These reclassifications had no material effect on the operations, financial condition or cash flows of the Company. The Company’s 401(k) employee stock ownership plan (KSOP) includes a "put option" for shares of the Company’s common stock distributed from the KSOP. Shares are distributed from the KSOP primarily to separate vested participants and certain eligible participants who elect to diversify their account balances. Since the Company’s common stock is not currently traded on an established securities market, if the owners of distributed shares desire to sell their shares, the Company is required to purchase the shares at fair value during two put option periods following the distribution of the shares from the KSOP. The first put option period is within sixty days following the distribution of the shares from the KSOP. The second put option period begins on the first day of the fifth month of the plan year for a sixty day period. The distributed shares subject to the put option and the shares held by the KSOP (KSOP shares) were previously recorded in permanent equity. Due to the Company’s obligation under the put option, the distributed shares and KSOP shares should be classified as temporary equity in the mezzanine section of the consolidated statements of financial condition. This change in classification resulted in the December 31, 2016 permanent equity decreasing $623 thousand and temporary equity increasing by $623 thousand from amounts previously reported. Based on an analysis of quantitative and qualitative factors, this change in classification was deemed immaterial for all periods previously reported . |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2017 | |
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. All shares owned by the Company’s 401(k) Employee Stock Ownership Plan (KSOP) are included in the earnings per share calculations. The reconciliation of the components of the basic and diluted earnings per share is as follows: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2017 2016 2017 2016 Net earnings available to common shareholders $ 2,563 $ 2,216 $ 6,900 $ 5,920 Weighted average common shares outstanding 5,110,644 5,078,186 5,096,275 5,007,394 Dilutive effect of stock options 86,559 36,069 81,189 56,315 Dilutive effect of stock warrants - 3,351 - 3,204 Diluted common shares 5,197,203 5,117,606 5,177,464 5,066,913 Basic earnings per common share $ 0.50 $ 0.44 $ 1.35 $ 1.18 Diluted earnings per common share $ 0.49 $ 0.43 $ 1.33 $ 1.17 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 4 – Investment Securities Securities available-for-sale at September 30, 2017 and December 31, 2016 are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2017: Securities available-for-sale: Residential mortgage-backed $ 131,443 $ 142 $ (1,795 ) $ 129,790 U.S. govt. sponsored enterprises 15,923 68 (111 ) 15,880 State, county, and municipal 55,827 843 (200 ) 56,470 Corporate debt obligations 1,828 10 (9 ) 1,829 Totals $ 205,021 $ 1,063 $ (2,115 ) $ 203,969 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2016: Securities available-for-sale: Residential mortgage-backed $ 111,611 $ 63 $ (2,999 ) $ 108,675 U.S. govt. sponsored enterprises 15,506 44 (223 ) 15,327 State, county, and municipal 57,837 562 (813 ) 57,586 Corporate debt obligations 1,819 4 (50 ) 1,773 Totals $ 186,773 $ 673 $ (4,085 ) $ 183,361 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 September 30, 2017 and December 31, 2016 are as follows: Less Than 12 Months More Than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2017: Securities available-for-sale: Residential mortgage-backed $ 62,194 $ 726 $ 43,203 $ 1,069 $ 105,397 $ 1,795 U.S. govt. sponsored enterprises 2,059 52 1,895 59 3,954 111 State, county & municipal 7,106 69 12,787 131 19,893 200 Corporate debt obligations 368 8 1,000 1 1,368 9 Totals $ 71,727 $ 855 $ 58,885 $ 1,260 $ 130,612 $ 2,115 December 31, 2016: Securities available-for-sale: Residential mortgage-backed $ 98,033 $ 2,999 $ - $ - $ 98,033 $ 2,999 U.S. govt. sponsored enterprises 10,733 149 1,376 74 12,109 223 State, county & municipal 35,062 813 - - 35,062 813 Corporate debt obligations 1,319 50 - - 1,319 50 Totals $ 145,147 $ 4,011 $ 1,376 $ 74 $ 146,523 $ 4,085 As of September 30, 2017, 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 nine months ended September 30, 2017 or 2016. The Company owned a total of 108 securities with unrealized losses of $2,115 at September 30, 2017. As of September 30, 2017 and December 31, 2016, securities with a carrying value of approximately $29,894 and $29,873, respectively, were pledged to secure public deposits as required by law. At September 30, 2017 and December 31, 2016, the carrying value of securities pledged to secure repurchase agreements was approximately $21,139 and $18,392, respectively. During the nine months ended September 30, 2017, River sold investment securities for proceeds of $13,246 and realized gains of $3. During the nine months ended September 30, 2016, River sold investment securities for proceeds of $10,115 and realized gains of $14. The amortized cost and estimated fair value of securities available-for-sale at September 30, 2017, 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 $ 5,404 $ 5,405 1 to 5 years 19,193 19,241 5 to 10 years 13,564 13,623 After 10 years 35,417 35,910 73,578 74,179 Residential mortgage-backed securities 131,443 129,790 Totals $ 205,021 $ 203,969 |
Loans, Allowance for Loan Losse
Loans, Allowance for Loan Losses and Credit Quality | 9 Months Ended |
Sep. 30, 2017 | |
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 September 30, 2017 and December 31, 2016 are summarized as follows: September 30, 2017 December 31, 2016 Amount % of Total Amount % of Total Residential real estate: Closed-end 1-4 family - first lien $ 112,014 21.6 % $ 113,807 22.2 % Closed-end 1-4 family - junior lien 4,494 0.9 % 4,791 0.9 % Multi-family 17,452 3.4 % 17,043 3.3 % Total residential real estate 133,960 25.9 % 135,641 26.4 % Commercial real estate: Nonfarm nonresidential 162,485 31.4 % 161,198 31.5 % Farmland 7,522 1.5 % 13,344 2.6 % Total commercial real estate 170,007 32.9 % 174,542 34.1 % Construction and land development: Residential 24,040 4.6 % 27,228 5.3 % Other 41,880 8.1 % 37,221 7.3 % Total construction and land development 65,920 12.7 % 64,449 12.6 % Home equity lines of credit 35,087 6.8 % 35,761 7.0 % Commercial loans: Other commercial loans 89,736 17.3 % 81,198 15.8 % Agricultural 1,543 0.3 % 887 0.2 % State, county, and municipal loans 8,144 1.6 % 8,719 1.7 % Total commercial loans 99,423 19.2 % 90,804 17.7 % Consumer loans 22,558 4.4 % 20,858 4.1 % Total gross loans 526,955 101.9 % 522,055 101.9 % Allowance for loan losses (5,004 ) -1.0 % (4,007 ) -0.8 % Net deferred loan fees and discounts (3,666 ) -0.7 % (5,614 ) -1.1 % Net loans $ 518,285 100.2 % $ 512,434 100.0 % 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, 2016 $ 563 $ 1,506 $ 723 $ 187 $ 829 $ 199 $ 4,007 Provision for loan losses 497 342 (154 ) 223 352 120 1,380 Loan charge-offs - (136 ) (7 ) (100 ) (192 ) (94 ) (529 ) Loan recoveries 24 11 10 2 85 14 146 Balance - September 30, 2017 $ 1,084 $ 1,723 $ 572 $ 312 $ 1,074 $ 239 $ 5,004 Ending balance: Individually evaluated for impairment $ 527 $ 367 $ 22 $ - $ 407 $ 22 $ 1,345 Collectively evaluated for impairment 557 1,356 550 312 667 217 3,659 Total $ 1,084 $ 1,723 $ 572 $ 312 $ 1,074 $ 239 $ 5,004 Loans: Individually evaluated for impairment $ 2,448 $ 2,496 $ 171 $ 100 $ 533 $ 98 $ 5,846 Collectively evaluated for impairment 131,512 167,511 65,749 34,987 98,890 22,460 521,109 Total $ 133,960 $ 170,007 $ 65,920 $ 35,087 $ 99,423 $ 22,558 $ 526,955 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 206 (21 ) 233 23 154 67 662 Loan charge-offs - (15 ) - (10 ) (241 ) (36 ) (302 ) Loan recoveries 5 - 10 16 52 19 102 Balance - September 30, 2016 $ 579 $ 1,266 $ 812 $ 179 $ 1,215 $ 238 $ 4,289 Ending balance: Individually evaluated for impairment $ 54 $ 403 $ - $ - $ 732 $ - $ 1,189 Collectively evaluated for impairment 525 863 812 179 483 238 3,100 Total $ 579 $ 1,266 $ 812 $ 179 $ 1,215 $ 238 $ 4,289 Loans: Individually evaluated for impairment $ 1,030 $ 4,093 $ 50 $ 100 $ 816 $ - $ 6,089 Collectively evaluated for impairment 130,381 164,760 61,287 32,400 90,162 20,972 499,962 Total $ 131,411 $ 168,853 $ 61,337 $ 32,500 $ 90,978 $ 20,972 $ 506,051 Among other loans, the Bank individually evaluates for impairment all nonaccrual loans and troubled debt restructured loans. 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. All other loans are deemed to be unimpaired and are grouped into various homogeneous risk pools utilizing regulatory reporting classifications. The Bank’s historical loss factors are calculated for each of these risk pools based on the net losses experienced as a percentage of the average loans outstanding. The time periods utilized in these historical loss factor calculations are subjective and vary according to management’s estimate of the impact of current economic cycles. As every loan has a risk of loss, minimum loss factors are estimated based on long term trends for the Bank, the banking industry, and the economy. The greater of the calculated historical loss factors or the minimum loss factors are applied to the unimpaired loan amounts currently outstanding for the risk pool and included in the analysis of the allowance for loan losses. In addition, certain qualitative adjustments may be included by management as additional loss factors applied to the unimpaired loan risk pools. These adjustments may include, among other things, changes in loan policy, loan administration, loan, geographic, or industry concentrations, loan growth rates, and experience levels of our lending officers. The loss allocations for specifically impaired loans, smaller impaired loans not specifically measured for impairment, and unimpaired loans are totaled to determine the total required allowance for loan losses. This total is compared to the current allowance on the Bank’s books and adjustments made accordingly by a charge or credit to the provision for loan losses. The following table presents impaired loans by class of loans as of September 30, 2017. Nonaccruing Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 1,506 $ 88 $ 1,418 $ 527 Commercial real estate 255 255 - - Construction and land development - - - - Total mortgage loans on real estate 1,761 343 1,418 527 Home equity lines of credit - - - - Commercial loans - - - - Consumer loans 54 54 - - Total Loans $ 1,815 $ 397 $ 1,418 $ 527 Accruing Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 942 $ 942 $ - $ - Commercial real estate 2,241 549 1,692 367 Construction and land development 171 - 171 22 Total mortgage loans on real estate 3,354 1,491 1,863 389 Home equity lines of credit 100 100 - - Commercial loans 533 128 405 407 Consumer loans 44 - 44 22 Total Loans $ 4,031 $ 1,719 $ 2,312 $ 818 Total Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 2,448 $ 1,030 $ 1,418 $ 527 Commercial real estate 2,496 804 1,692 367 Construction and land development 171 - 171 22 Total mortgage loans on real estate 5,115 1,834 3,281 916 Home equity lines of credit 100 100 - - Commercial loans 533 128 405 407 Consumer loans 98 54 44 22 Total Loans $ 5,846 $ 2,116 $ 3,730 $ 1,345 The following table presents impaired loans by class of loans as of December 31, 2016. Nonaccruing Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 223 $ 96 $ 127 $ 53 Commercial real estate 3,470 1,010 2,460 430 Construction and land development - - - - Total mortgage loans on real estate 3,693 1,106 2,587 483 Home equity lines of credit 100 100 - - Commercial loans 93 93 - - Consumer loans - - - - Total Loans $ 3,886 $ 1,299 $ 2,587 $ 483 Accruing Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 978 $ 978 $ - $ - Commercial real estate 1,905 589 1,316 317 Construction and land development 31 31 - - Total mortgage loans on real estate 2,914 1,598 1,316 317 Home equity lines of credit 100 100 - - Commercial loans 592 136 456 456 Consumer loans 39 - 39 19 Total Loans $ 3,645 $ 1,834 $ 1,811 $ 792 Total Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 1,201 $ 1,074 $ 127 $ 53 Commercial real estate 5,375 1,599 3,776 747 Construction and land development 31 31 - - Total mortgage loans on real estate 6,607 2,704 3,903 800 Home equity lines of credit 200 200 - - Commercial loans 685 229 456 456 Consumer loans 39 - 39 19 Total Loans $ 7,531 $ 3,133 $ 4,398 $ 1,275 The following table presents the average recorded investment in impaired loans and the interest income recognized on impaired loans in the nine months ended September 30, 2017 and 2016 by loan category. Nine Months Ended Nine Months Ended September 30, 2017 September 30, 2016 Average Ending Average Ending Recorded Recorded Interest Recorded Recorded Interest Investment Investment Income Investment Investment Income Mortgage loans on real estate: Residential real estate $ 2,087 $ 2,448 $ 53 $ 1,173 $ 1,030 $ 61 Commercial real estate 3,123 2,496 74 4,049 4,093 106 Construction and land development 8 171 - 75 50 4 Total mortgage loans on real estate 5,218 5,115 127 5,297 5,173 171 Home equity lines of credit 75 100 4 100 100 4 Commercial loans 589 533 19 1,057 816 18 Consumer loans 27 98 1 - - - Total Loans $ 5,909 $ 5,846 $ 151 $ 6,454 $ 6,089 $ 193 The following tables present the aging of loans and non-accrual loan balances as of September 30, 2017 and December 31, 2016, by class of loans. Accruing Loans As of September 30, 2017 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 129,996 $ 1,528 $ 626 $ 1,810 $ 133,960 Commercial real estate 168,746 681 252 328 170,007 Construction and land development 65,764 69 - 87 65,920 Total mortgage loans on real estate 364,506 2,278 878 2,225 369,887 Home equity lines of credit 34,806 201 - 80 35,087 Commercial loans 98,999 342 76 6 99,423 Consumer loans 22,226 186 8 138 22,558 Total Loans $ 520,537 $ 3,007 $ 962 $ 2,449 $ 526,955 Accruing Loans As of December 31, 2016 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 132,603 $ 2,585 $ - $ 453 $ 135,641 Commercial real estate 170,363 708 - 3,471 174,542 Construction and land development 64,111 312 - 26 64,449 Total mortgage loans on real estate 367,077 3,605 - 3,950 374,632 Home equity lines of credit 35,257 320 - 184 35,761 Commercial loans 90,579 76 19 130 90,804 Consumer loans 20,431 285 20 122 20,858 Total Loans $ 513,344 $ 4,286 $ 39 $ 4,386 $ 522,055 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 September 30, 2017 and December 31, 2016, and based on the most recent analysis performed as of those dates, the risk category of loans by class of loans is as follows: As of September 30, 2017 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential $ 128,108 $ 2,414 $ 3,438 $ - $ 133,960 Commercial real estate 162,245 5,592 2,170 - 170,007 Construction and land development 64,826 917 177 - 65,920 Total mortgage loans on real estate 355,179 8,923 5,785 - 369,887 Home equity lines of credit 34,708 175 204 - 35,087 Commercial loans 96,728 2,071 624 - 99,423 Consumer loans 22,157 118 283 - 22,558 Total Loans $ 508,772 $ 11,287 $ 6,896 $ - $ 526,955 As of December 31, 2016 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential $ 125,983 $ 6,272 $ 3,386 $ - $ 135,641 Commercial real estate 165,381 3,837 5,324 - 174,542 Construction and land development 63,151 605 451 242 64,449 Total mortgage loans on real estate 354,515 10,714 9,161 242 374,632 Home equity lines of credit 35,344 109 308 - 35,761 Commercial loans 87,684 2,357 649 114 90,804 Consumer loans 20,433 211 214 - 20,858 Total Loans $ 497,976 $ 13,391 $ 10,332 $ 356 $ 522,055 |
Fair Value Measurements and Dis
Fair Value Measurements and Disclosures | 9 Months Ended |
Sep. 30, 2017 | |
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 Securities sold under agreements to repurchase 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: September 30, 2017 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 $ 129,790 $ - $ 129,790 $ - U.S. government sponsored enterprises 15,880 - 15,880 - State, county, and municipal 56,470 - 56,470 - Corporate debt obligations 1,829 - 1,829 - Totals $ 203,969 $ - $ 203,969 $ - Fair Value Measurements At Reporting Date Using: December 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 $ 108,675 $ - $ 108,675 $ - U.S. government sponsored enterprises 15,327 - 15,327 - State, county, and municipal 57,586 - 57,586 - Corporate debt obligations 1,773 - 1,773 - Totals $ 183,361 $ - $ 183,361 $ - Assets measured at fair value on a nonrecurring basis Fair Value Measurements At Reporting Date Using: September 30, 2017 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 $ 4,501 $ - $ - $ 4,501 Foreclosed assets 1,485 - - 1,485 Totals $ 5,986 $ - $ - $ 5,986 December 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 $ 6,256 $ - $ - $ 6,256 Foreclosed assets 1,151 - - 1,151 Totals $ 7,407 $ - $ - $ 7,407 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 September 30, 2017 and December 31, 2016 are as follows: Estimated Fair Value September 30, 2017 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 17,920 $ 17,920 $ - $ - Certificates of deposit in banks 5,214 - 5,214 - Securities available-for-sale 203,969 - 203,969 - Loans held-for-sale 4,278 - 4,278 - Restricted equity securities 1,472 - - 1,472 Loans receivable 518,285 - 515,265 4,501 Bank owned life insurance 15,067 - 15,067 - Accrued interest receivable 2,322 - 2,322 - Financial liabilities: Deposits 682,673 - 681,673 - Accrued interest payable 119 - 119 - Securities sold under agreements to repurchase 12,608 - 12,608 - Federal Home Loan Bank advances 15,000 - 14,996 - Note payable 5,625 - 5,625 - Estimated Fair Value December 31, 2016 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 42,499 $ 42,499 $ - $ - Certificates of deposit in banks 5,463 - 5,463 - Securities available-for-sale 183,361 - 183,361 - Loans held-for-sale 7,734 - 7,734 - Restricted equity securities 751 - - 751 Loans receivable 512,434 - 506,178 6,256 Bank owned life insurance 15,161 - 15,161 - Accrued interest receivable 2,376 - 2,376 - Financial liabilities: Deposits 704,913 - 688,591 - Accrued interest payable 130 - 130 - Securities sold under agreements to repurchase 13,034 - 13,034 - Note payable 6,428 - 6,428 - 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 September 30, 2017 and December 31, 2016. 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 Company’s overall interest rate risk. |
Acquisition
Acquisition | 9 Months Ended |
Sep. 30, 2017 | |
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. |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Changes And Error Corrections [Abstract] | |
Recently Issued Accounting Pronouncements | Note 8 – Recently Issued Accounting Pronouncements In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718). ASU 2016-09 amended existing guidance to simplify the accounting for share-based payment award transactions, including: a) income tax consequences; b) classification of awards as either equity or liabilities; c) classification on the statement of cash flows; and d) policy election to estimate the number of awards that are expected to vest (current GAAP) or account for forfeitures when they occur. For public business entities, the amendments of this ASU are effective fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The adoption of this standard did not have a material effect on the Company’s operating results or financial condition. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606)—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 January 2016, the FASB issued ASU 2016-01 Financial Instruments-Overall (Subtopic 825-10): 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 after 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 (Topic 842). 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 after 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. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new guidance will apply to most financial assets measured at amortized cost and certain other instruments including loans, debt securities held to maturity, net investments in leases and off-balance-sheet credit exposures. The guidance will replace the current incurred loss accounting model that delays recognition of a loss until it is probable a loss has been incurred with an expected loss model that reflects expected credit losses based upon a broader range of estimates including consideration of past events, current conditions and supportable forecasts. The guidance also eliminates the current accounting model for purchased credit impaired loans and debt securities. For securities available for sale, credit losses are to be recognized as allowances rather than reductions in the amortized cost of the securities, which will require re-measurement of the related allowance at each reporting period. The guidance includes enhanced disclosure requirements intended to help financial statement users better understand estimates and judgments used in estimating credit losses. The guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. However, entities can apply these amendments as early as fiscal years beginning after December 15, 2018. The Company is evaluating the impact to its consolidated financial statements upon adoption. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. ASU 2017-04 was issued to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendments in this Update modify the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. An entity no longer will determine goodwill impairment by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. Because these amendments eliminate Step 2 from the goodwill impairment test, they should reduce the cost and complexity of evaluating goodwill for impairment. An entity should apply the amendments in this Update on a prospective basis. An entity is required to disclose the nature of and reason for the change in accounting principle upon transition. That disclosure should be provided in the first annual period and in the interim period within the first annual period when the entity initially adopts the amendments in this Update. A public business entity that is a U.S. Securities and Exchange Commission (SEC) filer should adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. ASU 2017-08 will shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date whereas under current GAAP, the amortization is to the maturity. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments in this Update more closely align the amortization period of premiums and discounts to expectations incorporated in market pricing on the underlying securities. Market participants generally price securities to the call date that produces the worst yield when the coupon is above current market rates (that is, the security is trading at a premium) and price securities to maturity when the coupon is below market rates (that is, the security is trading at a discount) in anticipation that the borrower will act in its economic best interest. As a result, the amendments more closely align interest income recorded on bonds held at a premium or a discount with the economics of the underlying instrument. An entity should apply the amendments in this Update on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. Additionally, in the period of adoption, an entity should provide disclosures about a change in accounting principle. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. |
Defined Contribution Plan
Defined Contribution Plan | 9 Months Ended |
Sep. 30, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Defined Contribution Plan | Note 9 – Defined Contribution Plan The Company provides a 401(k) employee stock ownership plan (KSOP), which covers substantially all of the Company’s employees who are eligible, as to age and length of service. A participant may elect to make contributions up to $18,000 of the participant’s annual compensation in 2017 and 2016. The Company makes contributions up to 3% of each participant’s annual compensation and the Company matches 50% of the next 2% contributed by the employee. Contributions to the plan by Company were approximately $239 thousand and $215 thousand for the nine months ended September 30, 2017 and 2016, respectively. Outstanding shares of the Company’s common stock allocated to participants at September 30, 2017 and December 31, 2016 totaled 43,477 and 38,933, respectively, and there were no unallocated shares. These shares are treated as outstanding for purposes of calculating earnings per share and dividends on these shares are included in the Consolidated Statements of Stockholders’ Equity. The Company’s KSOP includes a put option for shares of the Company’s common stock distributed from the KSOP. Shares are distributed from the KSOP primarily to separated vested participants and certain eligible participants who elect to diversify their account balances. Since the Company’s common stock is not currently traded on an established securities market, if the owners of distributed shares desire to sell their shares, the Company is required to purchase the shares at fair value during two put option periods following the distribution of the shares from the KSOP. The first put option period is within sixty days following the distribution of the shares from the KSOP. The second put option period begins on the first day of the fifth month of the plan year for a sixty day period. The fair value of distributed shares subject to the put option totaled $0 as of September 30, 2017 and December 31, 2016. The cost of the KSOP shares totaled $734 thousand and $623 thousand as of September 30, 2017 and December 31, 2016, respectively. Due to the Company’s obligation under the put option, the distributed shares and KSOP shares are classified as temporary equity in the mezzanine section of the consolidated statements of financial condition and totaled $734 thousand and $623 thousand as of September 30, 2017 and December 31, 2016, respectively. The fair value of the KSOP shares totaled $989 thousand and $672 thousand as of September 30, 2017 and December 31, 2016, respectively. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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 For the Nine Months Ended September 30, Ended September 30, 2017 2016 2017 2016 Net earnings available to common shareholders $ 2,563 $ 2,216 $ 6,900 $ 5,920 Weighted average common shares outstanding 5,110,644 5,078,186 5,096,275 5,007,394 Dilutive effect of stock options 86,559 36,069 81,189 56,315 Dilutive effect of stock warrants - 3,351 - 3,204 Diluted common shares 5,197,203 5,117,606 5,177,464 5,066,913 Basic earnings per common share $ 0.50 $ 0.44 $ 1.35 $ 1.18 Diluted earnings per common share $ 0.49 $ 0.43 $ 1.33 $ 1.17 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of Securities Available for Sale | Securities available-for-sale at September 30, 2017 and December 31, 2016 are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2017: Securities available-for-sale: Residential mortgage-backed $ 131,443 $ 142 $ (1,795 ) $ 129,790 U.S. govt. sponsored enterprises 15,923 68 (111 ) 15,880 State, county, and municipal 55,827 843 (200 ) 56,470 Corporate debt obligations 1,828 10 (9 ) 1,829 Totals $ 205,021 $ 1,063 $ (2,115 ) $ 203,969 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2016: Securities available-for-sale: Residential mortgage-backed $ 111,611 $ 63 $ (2,999 ) $ 108,675 U.S. govt. sponsored enterprises 15,506 44 (223 ) 15,327 State, county, and municipal 57,837 562 (813 ) 57,586 Corporate debt obligations 1,819 4 (50 ) 1,773 Totals $ 186,773 $ 673 $ (4,085 ) $ 183,361 |
Schedule of Details Concerning Investment Securities with Unrealized Losses | Details concerning investment securities with unrealized losses as of September 30, 2017 and December 31, 2016 are as follows: Less Than 12 Months More Than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2017: Securities available-for-sale: Residential mortgage-backed $ 62,194 $ 726 $ 43,203 $ 1,069 $ 105,397 $ 1,795 U.S. govt. sponsored enterprises 2,059 52 1,895 59 3,954 111 State, county & municipal 7,106 69 12,787 131 19,893 200 Corporate debt obligations 368 8 1,000 1 1,368 9 Totals $ 71,727 $ 855 $ 58,885 $ 1,260 $ 130,612 $ 2,115 December 31, 2016: Securities available-for-sale: Residential mortgage-backed $ 98,033 $ 2,999 $ - $ - $ 98,033 $ 2,999 U.S. govt. sponsored enterprises 10,733 149 1,376 74 12,109 223 State, county & municipal 35,062 813 - - 35,062 813 Corporate debt obligations 1,319 50 - - 1,319 50 Totals $ 145,147 $ 4,011 $ 1,376 $ 74 $ 146,523 $ 4,085 |
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 September 30, 2017, 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 $ 5,404 $ 5,405 1 to 5 years 19,193 19,241 5 to 10 years 13,564 13,623 After 10 years 35,417 35,910 73,578 74,179 Residential mortgage-backed securities 131,443 129,790 Totals $ 205,021 $ 203,969 |
Loans, Allowance for Loan Los20
Loans, Allowance for Loan Losses and Credit Quality (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract] | |
Schedule of Major Classifications of Loans | Major classifications of loans at September 30, 2017 and December 31, 2016 are summarized as follows: September 30, 2017 December 31, 2016 Amount % of Total Amount % of Total Residential real estate: Closed-end 1-4 family - first lien $ 112,014 21.6 % $ 113,807 22.2 % Closed-end 1-4 family - junior lien 4,494 0.9 % 4,791 0.9 % Multi-family 17,452 3.4 % 17,043 3.3 % Total residential real estate 133,960 25.9 % 135,641 26.4 % Commercial real estate: Nonfarm nonresidential 162,485 31.4 % 161,198 31.5 % Farmland 7,522 1.5 % 13,344 2.6 % Total commercial real estate 170,007 32.9 % 174,542 34.1 % Construction and land development: Residential 24,040 4.6 % 27,228 5.3 % Other 41,880 8.1 % 37,221 7.3 % Total construction and land development 65,920 12.7 % 64,449 12.6 % Home equity lines of credit 35,087 6.8 % 35,761 7.0 % Commercial loans: Other commercial loans 89,736 17.3 % 81,198 15.8 % Agricultural 1,543 0.3 % 887 0.2 % State, county, and municipal loans 8,144 1.6 % 8,719 1.7 % Total commercial loans 99,423 19.2 % 90,804 17.7 % Consumer loans 22,558 4.4 % 20,858 4.1 % Total gross loans 526,955 101.9 % 522,055 101.9 % Allowance for loan losses (5,004 ) -1.0 % (4,007 ) -0.8 % Net deferred loan fees and discounts (3,666 ) -0.7 % (5,614 ) -1.1 % Net loans $ 518,285 100.2 % $ 512,434 100.0 % |
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, 2016 $ 563 $ 1,506 $ 723 $ 187 $ 829 $ 199 $ 4,007 Provision for loan losses 497 342 (154 ) 223 352 120 1,380 Loan charge-offs - (136 ) (7 ) (100 ) (192 ) (94 ) (529 ) Loan recoveries 24 11 10 2 85 14 146 Balance - September 30, 2017 $ 1,084 $ 1,723 $ 572 $ 312 $ 1,074 $ 239 $ 5,004 Ending balance: Individually evaluated for impairment $ 527 $ 367 $ 22 $ - $ 407 $ 22 $ 1,345 Collectively evaluated for impairment 557 1,356 550 312 667 217 3,659 Total $ 1,084 $ 1,723 $ 572 $ 312 $ 1,074 $ 239 $ 5,004 Loans: Individually evaluated for impairment $ 2,448 $ 2,496 $ 171 $ 100 $ 533 $ 98 $ 5,846 Collectively evaluated for impairment 131,512 167,511 65,749 34,987 98,890 22,460 521,109 Total $ 133,960 $ 170,007 $ 65,920 $ 35,087 $ 99,423 $ 22,558 $ 526,955 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 206 (21 ) 233 23 154 67 662 Loan charge-offs - (15 ) - (10 ) (241 ) (36 ) (302 ) Loan recoveries 5 - 10 16 52 19 102 Balance - September 30, 2016 $ 579 $ 1,266 $ 812 $ 179 $ 1,215 $ 238 $ 4,289 Ending balance: Individually evaluated for impairment $ 54 $ 403 $ - $ - $ 732 $ - $ 1,189 Collectively evaluated for impairment 525 863 812 179 483 238 3,100 Total $ 579 $ 1,266 $ 812 $ 179 $ 1,215 $ 238 $ 4,289 Loans: Individually evaluated for impairment $ 1,030 $ 4,093 $ 50 $ 100 $ 816 $ - $ 6,089 Collectively evaluated for impairment 130,381 164,760 61,287 32,400 90,162 20,972 499,962 Total $ 131,411 $ 168,853 $ 61,337 $ 32,500 $ 90,978 $ 20,972 $ 506,051 |
Summary of Impaired Loans by Class of Loans | The following table presents impaired loans by class of loans as of September 30, 2017. Nonaccruing Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 1,506 $ 88 $ 1,418 $ 527 Commercial real estate 255 255 - - Construction and land development - - - - Total mortgage loans on real estate 1,761 343 1,418 527 Home equity lines of credit - - - - Commercial loans - - - - Consumer loans 54 54 - - Total Loans $ 1,815 $ 397 $ 1,418 $ 527 Accruing Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 942 $ 942 $ - $ - Commercial real estate 2,241 549 1,692 367 Construction and land development 171 - 171 22 Total mortgage loans on real estate 3,354 1,491 1,863 389 Home equity lines of credit 100 100 - - Commercial loans 533 128 405 407 Consumer loans 44 - 44 22 Total Loans $ 4,031 $ 1,719 $ 2,312 $ 818 Total Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 2,448 $ 1,030 $ 1,418 $ 527 Commercial real estate 2,496 804 1,692 367 Construction and land development 171 - 171 22 Total mortgage loans on real estate 5,115 1,834 3,281 916 Home equity lines of credit 100 100 - - Commercial loans 533 128 405 407 Consumer loans 98 54 44 22 Total Loans $ 5,846 $ 2,116 $ 3,730 $ 1,345 The following table presents impaired loans by class of loans as of December 31, 2016. Nonaccruing Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 223 $ 96 $ 127 $ 53 Commercial real estate 3,470 1,010 2,460 430 Construction and land development - - - - Total mortgage loans on real estate 3,693 1,106 2,587 483 Home equity lines of credit 100 100 - - Commercial loans 93 93 - - Consumer loans - - - - Total Loans $ 3,886 $ 1,299 $ 2,587 $ 483 Accruing Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 978 $ 978 $ - $ - Commercial real estate 1,905 589 1,316 317 Construction and land development 31 31 - - Total mortgage loans on real estate 2,914 1,598 1,316 317 Home equity lines of credit 100 100 - - Commercial loans 592 136 456 456 Consumer loans 39 - 39 19 Total Loans $ 3,645 $ 1,834 $ 1,811 $ 792 Total Impaired Loans Total Impaired Loans Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 1,201 $ 1,074 $ 127 $ 53 Commercial real estate 5,375 1,599 3,776 747 Construction and land development 31 31 - - Total mortgage loans on real estate 6,607 2,704 3,903 800 Home equity lines of credit 200 200 - - Commercial loans 685 229 456 456 Consumer loans 39 - 39 19 Total Loans $ 7,531 $ 3,133 $ 4,398 $ 1,275 |
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 nine months ended September 30, 2017 and 2016 by loan category. Nine Months Ended Nine Months Ended September 30, 2017 September 30, 2016 Average Ending Average Ending Recorded Recorded Interest Recorded Recorded Interest Investment Investment Income Investment Investment Income Mortgage loans on real estate: Residential real estate $ 2,087 $ 2,448 $ 53 $ 1,173 $ 1,030 $ 61 Commercial real estate 3,123 2,496 74 4,049 4,093 106 Construction and land development 8 171 - 75 50 4 Total mortgage loans on real estate 5,218 5,115 127 5,297 5,173 171 Home equity lines of credit 75 100 4 100 100 4 Commercial loans 589 533 19 1,057 816 18 Consumer loans 27 98 1 - - - Total Loans $ 5,909 $ 5,846 $ 151 $ 6,454 $ 6,089 $ 193 |
Schedule of Aging of Loans and Non-Accrual Loan | The following tables present the aging of loans and non-accrual loan balances as of September 30, 2017 and December 31, 2016, by class of loans. Accruing Loans As of September 30, 2017 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 129,996 $ 1,528 $ 626 $ 1,810 $ 133,960 Commercial real estate 168,746 681 252 328 170,007 Construction and land development 65,764 69 - 87 65,920 Total mortgage loans on real estate 364,506 2,278 878 2,225 369,887 Home equity lines of credit 34,806 201 - 80 35,087 Commercial loans 98,999 342 76 6 99,423 Consumer loans 22,226 186 8 138 22,558 Total Loans $ 520,537 $ 3,007 $ 962 $ 2,449 $ 526,955 Accruing Loans As of December 31, 2016 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 132,603 $ 2,585 $ - $ 453 $ 135,641 Commercial real estate 170,363 708 - 3,471 174,542 Construction and land development 64,111 312 - 26 64,449 Total mortgage loans on real estate 367,077 3,605 - 3,950 374,632 Home equity lines of credit 35,257 320 - 184 35,761 Commercial loans 90,579 76 19 130 90,804 Consumer loans 20,431 285 20 122 20,858 Total Loans $ 513,344 $ 4,286 $ 39 $ 4,386 $ 522,055 |
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 September 30, 2017 and December 31, 2016, and based on the most recent analysis performed as of those dates, the risk category of loans by class of loans is as follows: As of September 30, 2017 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential $ 128,108 $ 2,414 $ 3,438 $ - $ 133,960 Commercial real estate 162,245 5,592 2,170 - 170,007 Construction and land development 64,826 917 177 - 65,920 Total mortgage loans on real estate 355,179 8,923 5,785 - 369,887 Home equity lines of credit 34,708 175 204 - 35,087 Commercial loans 96,728 2,071 624 - 99,423 Consumer loans 22,157 118 283 - 22,558 Total Loans $ 508,772 $ 11,287 $ 6,896 $ - $ 526,955 As of December 31, 2016 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential $ 125,983 $ 6,272 $ 3,386 $ - $ 135,641 Commercial real estate 165,381 3,837 5,324 - 174,542 Construction and land development 63,151 605 451 242 64,449 Total mortgage loans on real estate 354,515 10,714 9,161 242 374,632 Home equity lines of credit 35,344 109 308 - 35,761 Commercial loans 87,684 2,357 649 114 90,804 Consumer loans 20,433 211 214 - 20,858 Total Loans $ 497,976 $ 13,391 $ 10,332 $ 356 $ 522,055 |
Fair Value Measurements and D21
Fair Value Measurements and Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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 September 30, 2017 and December 31, 2016 is as follows: Fair Value Measurements At Reporting Date Using: September 30, 2017 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 $ 129,790 $ - $ 129,790 $ - U.S. government sponsored enterprises 15,880 - 15,880 - State, county, and municipal 56,470 - 56,470 - Corporate debt obligations 1,829 - 1,829 - Totals $ 203,969 $ - $ 203,969 $ - Fair Value Measurements At Reporting Date Using: December 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 $ 108,675 $ - $ 108,675 $ - U.S. government sponsored enterprises 15,327 - 15,327 - State, county, and municipal 57,586 - 57,586 - Corporate debt obligations 1,773 - 1,773 - Totals $ 183,361 $ - $ 183,361 $ - |
Schedule of Fair Value, Assets Measured on Non-Recurring Basis | The following table presents the financial instruments carried on the statement of financial position by caption and by level in the fair value hierarchy, for which a non-recurring change in fair value has been recorded as of September 30, 2017 and December 31, 2016: Fair Value Measurements At Reporting Date Using: September 30, 2017 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 $ 4,501 $ - $ - $ 4,501 Foreclosed assets 1,485 - - 1,485 Totals $ 5,986 $ - $ - $ 5,986 December 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 $ 6,256 $ - $ - $ 6,256 Foreclosed assets 1,151 - - 1,151 Totals $ 7,407 $ - $ - $ 7,407 |
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 September 30, 2017 and December 31, 2016 are as follows: Estimated Fair Value September 30, 2017 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 17,920 $ 17,920 $ - $ - Certificates of deposit in banks 5,214 - 5,214 - Securities available-for-sale 203,969 - 203,969 - Loans held-for-sale 4,278 - 4,278 - Restricted equity securities 1,472 - - 1,472 Loans receivable 518,285 - 515,265 4,501 Bank owned life insurance 15,067 - 15,067 - Accrued interest receivable 2,322 - 2,322 - Financial liabilities: Deposits 682,673 - 681,673 - Accrued interest payable 119 - 119 - Securities sold under agreements to repurchase 12,608 - 12,608 - Federal Home Loan Bank advances 15,000 - 14,996 - Note payable 5,625 - 5,625 - Estimated Fair Value December 31, 2016 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 42,499 $ 42,499 $ - $ - Certificates of deposit in banks 5,463 - 5,463 - Securities available-for-sale 183,361 - 183,361 - Loans held-for-sale 7,734 - 7,734 - Restricted equity securities 751 - - 751 Loans receivable 512,434 - 506,178 6,256 Bank owned life insurance 15,161 - 15,161 - Accrued interest receivable 2,376 - 2,376 - Financial liabilities: Deposits 704,913 - 688,591 - Accrued interest payable 130 - 130 - Securities sold under agreements to repurchase 13,034 - 13,034 - Note payable 6,428 - 6,428 - |
Reclassifications - Additional
Reclassifications - Additional Information (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017USD ($) | Dec. 31, 2016USD ($) | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Decrease in common stock related to 401(k) Employee Stock Ownership Plan | $ 734 | $ 623 |
Employee Stock Ownership Plan | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Decrease in common stock related to 401(k) Employee Stock Ownership Plan | 623 | |
Increase in common stock related to 401(k) Employee Stock Ownership Plan | $ 623 | |
Employee Stock Ownership Plan | Defined Benefit Plans Adjustment | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Number of periods available to purchase shares following distribution | 2 | |
First put option effective period | within sixty days following the distribution of the shares from the KSOP | |
Second put option effective period | begins on the first day of the fifth month of the plan year for a sixty day period |
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 | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Net earnings available to common shareholders | $ 2,563 | $ 2,216 | $ 6,900 | $ 5,920 |
Weighted average common shares outstanding | 5,110,644 | 5,078,186 | 5,096,275 | 5,007,394 |
Dilutive effect of stock options | 86,559 | 36,069 | 81,189 | 56,315 |
Dilutive effect of stock warrants | 3,351 | 3,204 | ||
Diluted common shares | 5,197,203 | 5,117,606 | 5,177,464 | 5,066,913 |
Basic earnings per common share | $ 0.50 | $ 0.44 | $ 1.35 | $ 1.18 |
Diluted earnings per common share | $ 0.49 | $ 0.43 | $ 1.33 | $ 1.17 |
Investment Securities - Schedul
Investment Securities - Schedule of Securities Available for Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | $ 205,021 | $ 186,773 |
Securities available-for-sale, Gross Unrealized Gains | 1,063 | 673 |
Securities available-for-sale, Gross Unrealized Losses | (2,115) | (4,085) |
Securities available-for-sale, Fair Value | 203,969 | 183,361 |
Residential Mortgage - Backed | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 131,443 | 111,611 |
Securities available-for-sale, Gross Unrealized Gains | 142 | 63 |
Securities available-for-sale, Gross Unrealized Losses | (1,795) | (2,999) |
Securities available-for-sale, Fair Value | 129,790 | 108,675 |
U.S. Govt. Sponsored Enterprises | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 15,923 | 15,506 |
Securities available-for-sale, Gross Unrealized Gains | 68 | 44 |
Securities available-for-sale, Gross Unrealized Losses | (111) | (223) |
Securities available-for-sale, Fair Value | 15,880 | 15,327 |
State, Country and Municipal | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 55,827 | 57,837 |
Securities available-for-sale, Gross Unrealized Gains | 843 | 562 |
Securities available-for-sale, Gross Unrealized Losses | (200) | (813) |
Securities available-for-sale, Fair Value | 56,470 | 57,586 |
Corporate Debt Obligations | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 1,828 | 1,819 |
Securities available-for-sale, Gross Unrealized Gains | 10 | 4 |
Securities available-for-sale, Gross Unrealized Losses | (9) | (50) |
Securities available-for-sale, Fair Value | $ 1,829 | $ 1,773 |
Investment Securities - Sched25
Investment Securities - Schedule of Details Concerning Investment Securities with Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 71,727 | $ 145,147 |
Less than 12 Months, Unrealized Losses | 855 | 4,011 |
More Than 12 Months, Fair Value | 58,885 | 1,376 |
More Than 12 Months, Unrealized Losses | 1,260 | 74 |
Total, Fair Value | 130,612 | 146,523 |
Total, Unrealized Losses | 2,115 | 4,085 |
Residential Mortgage - Backed | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 62,194 | 98,033 |
Less than 12 Months, Unrealized Losses | 726 | 2,999 |
More Than 12 Months, Fair Value | 43,203 | |
More Than 12 Months, Unrealized Losses | 1,069 | |
Total, Fair Value | 105,397 | 98,033 |
Total, Unrealized Losses | 1,795 | 2,999 |
U.S. Govt. Sponsored Enterprises | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 2,059 | 10,733 |
Less than 12 Months, Unrealized Losses | 52 | 149 |
More Than 12 Months, Fair Value | 1,895 | 1,376 |
More Than 12 Months, Unrealized Losses | 59 | 74 |
Total, Fair Value | 3,954 | 12,109 |
Total, Unrealized Losses | 111 | 223 |
State, Country and Municipal | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 7,106 | 35,062 |
Less than 12 Months, Unrealized Losses | 69 | 813 |
More Than 12 Months, Fair Value | 12,787 | |
More Than 12 Months, Unrealized Losses | 131 | |
Total, Fair Value | 19,893 | 35,062 |
Total, Unrealized Losses | 200 | 813 |
Corporate Debt Obligations | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 368 | 1,319 |
Less than 12 Months, Unrealized Losses | 8 | 50 |
More Than 12 Months, Fair Value | 1,000 | |
More Than 12 Months, Unrealized Losses | 1 | |
Total, Fair Value | 1,368 | 1,319 |
Total, Unrealized Losses | $ 9 | $ 50 |
Investment Securities - Additio
Investment Securities - Additional Information (Details) | 9 Months Ended | ||
Sep. 30, 2017USD ($)Security | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Investments Debt And Equity Securities [Abstract] | |||
Other-than-temporary impairments charged to earnings | $ 0 | $ 0 | |
Number of securities owned | Security | 108 | ||
Unrealized losses | $ 2,115,000 | $ 4,085,000 | |
Securities pledged to secure public deposits | 29,894,000 | 29,873,000 | |
Securities pledged to secure repurchase agreements | 21,139,000 | $ 18,392,000 | |
Proceeds from sale of available-for-sale securities | 13,246,000 | 10,115,000 | |
Realized investment gains | $ 3,000 | $ 14,000 |
Investment Securities - Sched27
Investment Securities - Schedule of Amortized Cost and Estimated Fair value of Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Securities available-for-sale | ||
Securities available-for-sale, Less than 1 year, Amortized Cost | $ 5,404 | |
Securities available-for-sale, 1 to 5 years, Amortized Cost | 19,193 | |
Securities available-for-sale, 5 to 10 years, Amortized Cost | 13,564 | |
Securities available-for-sale, After 10 years, Amortized Cost | 35,417 | |
Securities available-for-sale, before Residential mortgage-backed securities | 73,578 | |
Securities available-for-sale, Residential mortgage-backed securities | 205,021 | $ 186,773 |
Securities available-for-sale | ||
Securities available-for-sale, Less than 1 year, Fair Value | 5,405 | |
Securities available-for-sale, 1 to 5 years, Fair Value | 19,241 | |
Securities available-for-sale, 5 to 10 years, Fair Value | 13,623 | |
Securities available-for-sale, After 10 years, Fair Value | 35,910 | |
Securities available-for-sale, before Residential mortgage-backed securities Fair Value | 74,179 | |
Securities available-for-sale, Fair Value | 203,969 | 183,361 |
Residential Mortgage-Backed Securities | ||
Securities available-for-sale | ||
Securities available-for-sale, Residential mortgage-backed securities | 131,443 | 111,611 |
Securities available-for-sale | ||
Securities available-for-sale, Fair Value | $ 129,790 | $ 108,675 |
Loans, Allowance for Loan Los28
Loans, Allowance for Loan Losses and Credit Quality - Major Classifications of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 526,955 | $ 522,055 | $ 506,051 | |
Allowance for loan losses | (5,004) | (4,007) | (4,289) | $ (3,827) |
Net deferred loan fees and discounts | (3,666) | (5,614) | ||
Net loans | $ 518,285 | $ 512,434 | ||
Total gross loans percentage | 101.90% | 101.90% | ||
Allowance for loan losses percentage | (1.00%) | (0.80%) | ||
Net deferred loan fees and discounts percentage | (0.70%) | (1.10%) | ||
Net loans percentage | 100.20% | 100.00% | ||
Home Equity Lines of Credit | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 35,087 | $ 35,761 | ||
Total gross loans percentage | 6.80% | 7.00% | ||
Residential Real Estate | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 133,960 | $ 135,641 | ||
Total gross loans percentage | 25.90% | 26.40% | ||
Residential Real Estate | Closed-end 1-4 family - first lien | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 112,014 | $ 113,807 | ||
Total gross loans percentage | 21.60% | 22.20% | ||
Residential Real Estate | Closed-end 1-4 family - junior lien | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 4,494 | $ 4,791 | ||
Total gross loans percentage | 0.90% | 0.90% | ||
Residential Real Estate | Multi-family | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 17,452 | $ 17,043 | ||
Total gross loans percentage | 3.40% | 3.30% | ||
Commercial Real Estate | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 170,007 | $ 174,542 | ||
Total gross loans percentage | 32.90% | 34.10% | ||
Commercial Real Estate | Nonfarm nonresidential | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 162,485 | $ 161,198 | ||
Total gross loans percentage | 31.40% | 31.50% | ||
Commercial Real Estate | Farmland | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 7,522 | $ 13,344 | ||
Total gross loans percentage | 1.50% | 2.60% | ||
Construction and Land Development | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 65,920 | $ 64,449 | ||
Total gross loans percentage | 12.70% | 12.60% | ||
Construction and Land Development | Residential | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 24,040 | $ 27,228 | ||
Total gross loans percentage | 4.60% | 5.30% | ||
Construction and Land Development | Other | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 41,880 | $ 37,221 | ||
Total gross loans percentage | 8.10% | 7.30% | ||
Commercial Loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 99,423 | $ 90,804 | 90,978 | |
Allowance for loan losses | $ (1,074) | $ (829) | (1,215) | (1,250) |
Total gross loans percentage | 19.20% | 17.70% | ||
Commercial Loans | Other commercial loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 89,736 | $ 81,198 | ||
Total gross loans percentage | 17.30% | 15.80% | ||
Commercial Loans | Agricultural | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 1,543 | $ 887 | ||
Total gross loans percentage | 0.30% | 0.20% | ||
Commercial Loans | State, county, and municipal loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 8,144 | $ 8,719 | ||
Total gross loans percentage | 1.60% | 1.70% | ||
Consumer Loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 22,558 | $ 20,858 | 20,972 | |
Allowance for loan losses | $ (239) | $ (199) | $ (238) | $ (188) |
Total gross loans percentage | 4.40% | 4.10% |
Loans, Allowance for Loan Los29
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 | 9 Months Ended | |||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Allowance for Loan Losses | |||||||
Beginning Balance | $ 4,007 | $ 3,827 | |||||
Provision for loan losses | $ 660 | $ 215 | 1,380 | 662 | |||
Loan charge-offs | (529) | (302) | |||||
Loan recoveries | 146 | 102 | |||||
Ending Balance | 5,004 | 4,289 | 5,004 | 4,289 | |||
Ending Balance, Individually evaluated for impairment | $ 1,345 | $ 1,189 | |||||
Ending Balance, Collectively evaluated for impairment | 3,659 | 3,100 | |||||
Total | 5,004 | 4,289 | 5,004 | 3,827 | 5,004 | $ 4,007 | 4,289 |
Loans, Individually evaluated for impairment | 5,846 | 6,089 | |||||
Loans, Collectively evaluated for impairment | 521,109 | 499,962 | |||||
Total Loans | 526,955 | 522,055 | 506,051 | ||||
Home Equity Lines of Credit | |||||||
Allowance for Loan Losses | |||||||
Total Loans | 35,087 | 35,761 | |||||
Residential | |||||||
Allowance for Loan Losses | |||||||
Total Loans | 133,960 | 135,641 | |||||
Commercial | |||||||
Allowance for Loan Losses | |||||||
Total Loans | 170,007 | 174,542 | |||||
Construction and Land Development | |||||||
Allowance for Loan Losses | |||||||
Total Loans | 65,920 | 64,449 | |||||
Commercial Loans | |||||||
Allowance for Loan Losses | |||||||
Beginning Balance | 829 | 1,250 | |||||
Provision for loan losses | 352 | 154 | |||||
Loan charge-offs | (192) | (241) | |||||
Loan recoveries | 85 | 52 | |||||
Ending Balance | 1,074 | 1,215 | 1,074 | 1,215 | |||
Ending Balance, Individually evaluated for impairment | 407 | 732 | |||||
Ending Balance, Collectively evaluated for impairment | 667 | 483 | |||||
Total | 1,074 | 1,215 | 829 | 1,250 | 1,074 | 829 | 1,215 |
Loans, Individually evaluated for impairment | 533 | 816 | |||||
Loans, Collectively evaluated for impairment | 98,890 | 90,162 | |||||
Total Loans | 99,423 | 90,804 | 90,978 | ||||
Consumer Loans | |||||||
Allowance for Loan Losses | |||||||
Beginning Balance | 199 | 188 | |||||
Provision for loan losses | 120 | 67 | |||||
Loan charge-offs | (94) | (36) | |||||
Loan recoveries | 14 | 19 | |||||
Ending Balance | 239 | 238 | 239 | 238 | |||
Ending Balance, Individually evaluated for impairment | 22 | ||||||
Ending Balance, Collectively evaluated for impairment | 217 | 238 | |||||
Total | 239 | 238 | 199 | 188 | 239 | 199 | 238 |
Loans, Individually evaluated for impairment | 98 | ||||||
Loans, Collectively evaluated for impairment | 22,460 | 20,972 | |||||
Total Loans | 22,558 | 20,858 | 20,972 | ||||
Real Estate Mortgage Loans | |||||||
Allowance for Loan Losses | |||||||
Total Loans | 369,887 | 374,632 | |||||
Real Estate Mortgage Loans | Home Equity Lines of Credit | |||||||
Allowance for Loan Losses | |||||||
Beginning Balance | 187 | 150 | |||||
Provision for loan losses | 223 | 23 | |||||
Loan charge-offs | (100) | (10) | |||||
Loan recoveries | 2 | 16 | |||||
Ending Balance | 312 | 179 | 312 | 179 | |||
Ending Balance, Collectively evaluated for impairment | 312 | 179 | |||||
Total | 312 | 179 | 187 | 150 | 312 | 187 | 179 |
Loans, Individually evaluated for impairment | 100 | 100 | |||||
Loans, Collectively evaluated for impairment | 34,987 | 32,400 | |||||
Total Loans | 35,087 | 32,500 | |||||
Real Estate Mortgage Loans | Residential | |||||||
Allowance for Loan Losses | |||||||
Beginning Balance | 563 | 368 | |||||
Provision for loan losses | 497 | 206 | |||||
Loan recoveries | 24 | 5 | |||||
Ending Balance | 1,084 | 579 | 1,084 | 579 | |||
Ending Balance, Individually evaluated for impairment | 527 | 54 | |||||
Ending Balance, Collectively evaluated for impairment | 557 | 525 | |||||
Total | 1,084 | 579 | 563 | 368 | 1,084 | 563 | 579 |
Loans, Individually evaluated for impairment | 2,448 | 1,030 | |||||
Loans, Collectively evaluated for impairment | 131,512 | 130,381 | |||||
Total Loans | 133,960 | 135,641 | 131,411 | ||||
Real Estate Mortgage Loans | Commercial | |||||||
Allowance for Loan Losses | |||||||
Beginning Balance | 1,506 | 1,302 | |||||
Provision for loan losses | 342 | (21) | |||||
Loan charge-offs | (136) | (15) | |||||
Loan recoveries | 11 | ||||||
Ending Balance | 1,723 | 1,266 | 1,723 | 1,266 | |||
Ending Balance, Individually evaluated for impairment | 367 | 403 | |||||
Ending Balance, Collectively evaluated for impairment | 1,356 | 863 | |||||
Total | 1,723 | 1,266 | 1,506 | 1,302 | 1,723 | 1,506 | 1,266 |
Loans, Individually evaluated for impairment | 2,496 | 4,093 | |||||
Loans, Collectively evaluated for impairment | 167,511 | 164,760 | |||||
Total Loans | 170,007 | 174,542 | 168,853 | ||||
Real Estate Mortgage Loans | Construction and Land Development | |||||||
Allowance for Loan Losses | |||||||
Beginning Balance | 723 | 569 | |||||
Provision for loan losses | (154) | 233 | |||||
Loan charge-offs | (7) | ||||||
Loan recoveries | 10 | 10 | |||||
Ending Balance | 572 | 812 | 572 | 812 | |||
Ending Balance, Individually evaluated for impairment | 22 | ||||||
Ending Balance, Collectively evaluated for impairment | 550 | 812 | |||||
Total | $ 572 | $ 812 | $ 723 | $ 569 | 572 | 723 | 812 |
Loans, Individually evaluated for impairment | 171 | 50 | |||||
Loans, Collectively evaluated for impairment | 65,749 | 61,287 | |||||
Total Loans | $ 65,920 | $ 64,449 | $ 61,337 |
Loans, Allowance for Loan Los30
Loans, Allowance for Loan Losses and Credit Quality - Summary of Impaired Loans by Class of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | $ 5,846 | $ 7,531 | $ 6,089 |
Impaired Loans With No Allowance | 2,116 | 3,133 | |
Impaired Loans With Allowance | 3,730 | 4,398 | |
Allowance for Loan Losses | 1,345 | 1,275 | |
Home Equity Lines of Credit | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 100 | 200 | 100 |
Impaired Loans With No Allowance | 100 | 200 | |
Commercial Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 533 | 685 | 816 |
Impaired Loans With No Allowance | 128 | 229 | |
Impaired Loans With Allowance | 405 | 456 | |
Allowance for Loan Losses | 407 | 456 | |
Consumer Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 98 | 39 | |
Impaired Loans With No Allowance | 54 | ||
Impaired Loans With Allowance | 44 | 39 | |
Allowance for Loan Losses | 22 | 19 | |
Mortgage Loans on Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 5,115 | 6,607 | 5,173 |
Impaired Loans With No Allowance | 1,834 | 2,704 | |
Impaired Loans With Allowance | 3,281 | 3,903 | |
Allowance for Loan Losses | 916 | 800 | |
Mortgage Loans on Real Estate | Residential | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 2,448 | 1,201 | 1,030 |
Impaired Loans With No Allowance | 1,030 | 1,074 | |
Impaired Loans With Allowance | 1,418 | 127 | |
Allowance for Loan Losses | 527 | 53 | |
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 2,496 | 5,375 | 4,093 |
Impaired Loans With No Allowance | 804 | 1,599 | |
Impaired Loans With Allowance | 1,692 | 3,776 | |
Allowance for Loan Losses | 367 | 747 | |
Mortgage Loans on Real Estate | Construction and Land Development | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 171 | 31 | $ 50 |
Impaired Loans With No Allowance | 31 | ||
Impaired Loans With Allowance | 171 | ||
Allowance for Loan Losses | 22 | ||
Nonaccruing Impaired Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 1,815 | 3,886 | |
Impaired Loans With No Allowance | 397 | 1,299 | |
Impaired Loans With Allowance | 1,418 | 2,587 | |
Allowance for Loan Losses | 527 | 483 | |
Nonaccruing Impaired Loans | Home Equity Lines of Credit | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 100 | ||
Impaired Loans With No Allowance | 100 | ||
Nonaccruing Impaired Loans | Commercial Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 93 | ||
Impaired Loans With No Allowance | 93 | ||
Nonaccruing Impaired Loans | Consumer Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 54 | ||
Impaired Loans With No Allowance | 54 | ||
Nonaccruing Impaired Loans | Mortgage Loans on Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 1,761 | 3,693 | |
Impaired Loans With No Allowance | 343 | 1,106 | |
Impaired Loans With Allowance | 1,418 | 2,587 | |
Allowance for Loan Losses | 527 | 483 | |
Nonaccruing Impaired Loans | Mortgage Loans on Real Estate | Residential | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 1,506 | 223 | |
Impaired Loans With No Allowance | 88 | 96 | |
Impaired Loans With Allowance | 1,418 | 127 | |
Allowance for Loan Losses | 527 | 53 | |
Nonaccruing Impaired Loans | Mortgage Loans on Real Estate | Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 255 | 3,470 | |
Impaired Loans With No Allowance | 255 | 1,010 | |
Impaired Loans With Allowance | 2,460 | ||
Allowance for Loan Losses | 430 | ||
Accruing Impaired Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 4,031 | 3,645 | |
Impaired Loans With No Allowance | 1,719 | 1,834 | |
Impaired Loans With Allowance | 2,312 | 1,811 | |
Allowance for Loan Losses | 818 | 792 | |
Accruing Impaired Loans | Home 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 | Commercial Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 533 | 592 | |
Impaired Loans With No Allowance | 128 | 136 | |
Impaired Loans With Allowance | 405 | 456 | |
Allowance for Loan Losses | 407 | 456 | |
Accruing Impaired Loans | Consumer Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 44 | 39 | |
Impaired Loans With Allowance | 44 | 39 | |
Allowance for Loan Losses | 22 | 19 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 3,354 | 2,914 | |
Impaired Loans With No Allowance | 1,491 | 1,598 | |
Impaired Loans With Allowance | 1,863 | 1,316 | |
Allowance for Loan Losses | 389 | 317 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | Residential | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 942 | 978 | |
Impaired Loans With No Allowance | 942 | 978 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 2,241 | 1,905 | |
Impaired Loans With No Allowance | 549 | 589 | |
Impaired Loans With Allowance | 1,692 | 1,316 | |
Allowance for Loan Losses | 367 | 317 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | Construction and Land Development | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total Impaired Loans | 171 | 31 | |
Impaired Loans With No Allowance | $ 31 | ||
Impaired Loans With Allowance | 171 | ||
Allowance for Loan Losses | $ 22 |
Loans, Allowance for Loan Los31
Loans, Allowance for Loan Losses and Credit Quality - Summary of Average Recorded Investment and Interest Income recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average Recorded Investment | $ 5,909 | $ 6,454 | |
Impaired loans, Ending Recorded Investment | 5,846 | 6,089 | $ 7,531 |
Impaired loans, Interest Income | 151 | 193 | |
Home Equity Lines of Credit | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average Recorded Investment | 75 | 100 | |
Impaired loans, Ending Recorded Investment | 100 | 100 | 200 |
Impaired loans, Interest Income | 4 | 4 | |
Commercial Loans | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average Recorded Investment | 589 | 1,057 | |
Impaired loans, Ending Recorded Investment | 533 | 816 | 685 |
Impaired loans, Interest Income | 19 | 18 | |
Consumer Loans | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average Recorded Investment | 27 | ||
Impaired loans, Ending Recorded Investment | 98 | 39 | |
Impaired loans, Interest Income | 1 | ||
Mortgage Loans on Real Estate | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average Recorded Investment | 5,218 | 5,297 | |
Impaired loans, Ending Recorded Investment | 5,115 | 5,173 | 6,607 |
Impaired loans, Interest Income | 127 | 171 | |
Mortgage Loans on Real Estate | Residential Real Estate | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average Recorded Investment | 2,087 | 1,173 | |
Impaired loans, Ending Recorded Investment | 2,448 | 1,030 | 1,201 |
Impaired loans, Interest Income | 53 | 61 | |
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average Recorded Investment | 3,123 | 4,049 | |
Impaired loans, Ending Recorded Investment | 2,496 | 4,093 | 5,375 |
Impaired loans, Interest Income | 74 | 106 | |
Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average Recorded Investment | 8 | 75 | |
Impaired loans, Ending Recorded Investment | $ 171 | 50 | $ 31 |
Impaired loans, Interest Income | $ 4 |
Loans, Allowance for Loan Los32
Loans, Allowance for Loan Losses and Credit Quality - Summary of Aging of Loans and Non-accrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | $ 520,537 | $ 513,344 | |
Nonaccrual Loans | 2,449 | 4,386 | |
Total Loans | 526,955 | 522,055 | $ 506,051 |
Home Equity Lines of Credit | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 34,806 | 35,257 | |
Nonaccrual Loans | 80 | 184 | |
Total Loans | 35,087 | 35,761 | |
Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 3,007 | 4,286 | |
Past Due 30-89 Days | Home Equity Lines of Credit | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 201 | 320 | |
Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 962 | 39 | |
Residential | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 133,960 | 135,641 | |
Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 170,007 | 174,542 | |
Construction and Land Development | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 65,920 | 64,449 | |
Commercial Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 98,999 | 90,579 | |
Nonaccrual Loans | 6 | 130 | |
Total Loans | 99,423 | 90,804 | 90,978 |
Commercial Loans | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 342 | 76 | |
Commercial Loans | Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 76 | 19 | |
Consumer Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 22,226 | 20,431 | |
Nonaccrual Loans | 138 | 122 | |
Total Loans | 22,558 | 20,858 | 20,972 |
Consumer Loans | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 186 | 285 | |
Consumer Loans | Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 8 | 20 | |
Mortgage Loans on Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 364,506 | 367,077 | |
Nonaccrual Loans | 2,225 | 3,950 | |
Total Loans | 369,887 | 374,632 | |
Mortgage Loans on Real Estate | Home Equity Lines of Credit | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 35,087 | 32,500 | |
Mortgage Loans on Real Estate | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 2,278 | 3,605 | |
Mortgage Loans on Real Estate | Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 878 | ||
Mortgage Loans on Real Estate | Residential | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 129,996 | 132,603 | |
Nonaccrual Loans | 1,810 | 453 | |
Total Loans | 133,960 | 135,641 | 131,411 |
Mortgage Loans on Real Estate | Residential | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 1,528 | 2,585 | |
Mortgage Loans on Real Estate | Residential | Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 626 | ||
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 168,746 | 170,363 | |
Nonaccrual Loans | 328 | 3,471 | |
Total Loans | 170,007 | 174,542 | 168,853 |
Mortgage Loans on Real Estate | Commercial Real Estate | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 681 | 708 | |
Mortgage Loans on Real Estate | Commercial Real Estate | Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 252 | ||
Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 65,764 | 64,111 | |
Nonaccrual Loans | 87 | 26 | |
Total Loans | 65,920 | 64,449 | $ 61,337 |
Mortgage Loans on Real Estate | Construction and Land Development | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | $ 69 | $ 312 |
Loans, Allowance for Loan Los33
Loans, Allowance for Loan Losses and Credit Quality - Summary of Risk Category of Loans by Class of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 526,955 | $ 522,055 | $ 506,051 |
Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 508,772 | 497,976 | |
Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 11,287 | 13,391 | |
Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 6,896 | 10,332 | |
Doubtful | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 356 | ||
Home Equity Lines of Credit | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 35,087 | 35,761 | |
Home Equity Lines of Credit | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 34,708 | 35,344 | |
Home Equity Lines of Credit | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 175 | 109 | |
Home Equity Lines of Credit | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 204 | 308 | |
Residential | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 133,960 | 135,641 | |
Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 170,007 | 174,542 | |
Construction and Land Development | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 65,920 | 64,449 | |
Commercial Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 99,423 | 90,804 | 90,978 |
Commercial Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 96,728 | 87,684 | |
Commercial Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,071 | 2,357 | |
Commercial Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 624 | 649 | |
Commercial Loans | Doubtful | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 114 | ||
Consumer Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 22,558 | 20,858 | 20,972 |
Consumer Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 22,157 | 20,433 | |
Consumer Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 118 | 211 | |
Consumer Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 283 | 214 | |
Mortgage Loans on Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 369,887 | 374,632 | |
Mortgage Loans on Real Estate | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 355,179 | 354,515 | |
Mortgage Loans on Real Estate | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 8,923 | 10,714 | |
Mortgage Loans on Real Estate | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 5,785 | 9,161 | |
Mortgage Loans on Real Estate | Doubtful | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 242 | ||
Mortgage Loans on Real Estate | Home Equity Lines of Credit | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 35,087 | 32,500 | |
Mortgage Loans on Real Estate | Residential | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 133,960 | 135,641 | 131,411 |
Mortgage Loans on Real Estate | Residential | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 128,108 | 125,983 | |
Mortgage Loans on Real Estate | Residential | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,414 | 6,272 | |
Mortgage Loans on Real Estate | Residential | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 3,438 | 3,386 | |
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 170,007 | 174,542 | 168,853 |
Mortgage Loans on Real Estate | Commercial Real Estate | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 162,245 | 165,381 | |
Mortgage Loans on Real Estate | Commercial Real Estate | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 5,592 | 3,837 | |
Mortgage Loans on Real Estate | Commercial Real Estate | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,170 | 5,324 | |
Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 65,920 | 64,449 | $ 61,337 |
Mortgage Loans on Real Estate | Construction and Land Development | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 64,826 | 63,151 | |
Mortgage Loans on Real Estate | Construction and Land Development | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 917 | 605 | |
Mortgage Loans on Real Estate | Construction and Land Development | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 177 | 451 | |
Mortgage Loans on Real Estate | Construction and Land Development | Doubtful | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 242 |
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 | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 203,969 | $ 183,361 |
U.S. Government Sponsored Enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 15,880 | 15,327 |
State, Country and Municipal | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 56,470 | 57,586 |
Corporate Debt Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,829 | 1,773 |
Recurring Basis | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 203,969 | 183,361 |
Recurring Basis | Residential Mortgage -Backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 129,790 | 108,675 |
Recurring Basis | U.S. Government Sponsored Enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 15,880 | 15,327 |
Recurring Basis | State, Country and Municipal | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 56,470 | 57,586 |
Recurring Basis | Corporate Debt Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,829 | 1,773 |
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 | 203,969 | 183,361 |
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 | 129,790 | 108,675 |
Recurring Basis | Significant Other Observable Inputs (Level 2) | U.S. Government Sponsored Enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 15,880 | 15,327 |
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 | 56,470 | 57,586 |
Recurring Basis | Significant Other Observable Inputs (Level 2) | Corporate Debt Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 1,829 | $ 1,773 |
Fair Value Measurement and Di35
Fair Value Measurement and Disclosures - Schedule of Fair Value, Assets Measured on Non-Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 5,986 | $ 7,407 |
Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 5,986 | 7,407 |
Impaired Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 4,501 | 6,256 |
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 | 4,501 | 6,256 |
Foreclosed Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 1,485 | 1,151 |
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 | $ 1,485 | $ 1,151 |
Fair Value Measurement and Di36
Fair Value Measurement and Disclosures - Summary of Estimated Fair Values Related to Carrying, Notional Amounts of River's Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financial assets: | ||
Securities available-for-sale | $ 203,969 | $ 183,361 |
Bank owned life insurance | 15,067 | 15,161 |
Accrued interest receivable | 2,322 | 2,376 |
Financial liabilities: | ||
Securities sold under agreements to repurchase | 12,608 | 13,034 |
Carrying Amount | ||
Financial assets: | ||
Cash and cash equivalents | 17,920 | 42,499 |
Certificates of deposit in banks | 5,214 | 5,463 |
Securities available-for-sale | 203,969 | 183,361 |
Loans held-for-sale | 4,278 | 7,734 |
Restricted equity securities | 1,472 | 751 |
Loans receivable | 518,285 | 512,434 |
Bank owned life insurance | 15,067 | 15,161 |
Accrued interest receivable | 2,322 | 2,376 |
Financial liabilities: | ||
Deposits | 682,673 | 704,913 |
Accrued interest payable | 119 | 130 |
Securities sold under agreements to repurchase | 12,608 | 13,034 |
Federal Home Loan Bank advances | 15,000 | |
Note payable | 5,625 | 6,428 |
Estimate Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Financial assets: | ||
Cash and cash equivalents | 17,920 | 42,499 |
Estimate Fair Value | Significant Other Observable Inputs (Level 2) | ||
Financial assets: | ||
Certificates of deposit in banks | 5,214 | 5,463 |
Securities available-for-sale | 203,969 | 183,361 |
Loans held-for-sale | 4,278 | 7,734 |
Loans receivable | 515,265 | 506,178 |
Bank owned life insurance | 15,067 | 15,161 |
Accrued interest receivable | 2,322 | 2,376 |
Financial liabilities: | ||
Deposits | 681,673 | 688,591 |
Accrued interest payable | 119 | 130 |
Securities sold under agreements to repurchase | 12,608 | 13,034 |
Federal Home Loan Bank advances | 14,996 | |
Note payable | 5,625 | 6,428 |
Estimate Fair Value | Significant Unobservable Inputs (Level 3) | ||
Financial assets: | ||
Restricted equity securities | 1,472 | 751 |
Loans receivable | $ 4,501 | $ 6,256 |
Acquisition - Additional Inform
Acquisition - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2015 | Sep. 30, 2016 |
Business Acquisition [Line Items] | ||
Cash payments to keystone shareholders | $ 7,274 | |
Keystone Bancshares, Inc. | ||
Business Acquisition [Line Items] | ||
Shares of river common stock issued for each outstanding share of keystone common stock upon merger | 1 | |
Cash paid for each outstanding share of keystone common stock upon merger | $ 4 | |
Option to acquire shares of river common stock | 1.25 | |
Shares to be issued upon closing of merger | 1,818,492 | |
Cash payments to keystone shareholders | $ 7,274 |
Defined Contribution Plan - Add
Defined Contribution Plan - Additional Information (Detail) | 9 Months Ended | ||
Sep. 30, 2017USD ($)shares | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($)shares | |
Defined Contribution Plan Disclosure [Line Items] | |||
Common stock, shares outstanding | shares | 5,098,034 | 5,080,857 | |
Employee Stock Ownership Plan | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Defined contribution plan, description | The Company makes contributions up to 3% of each participant’s annual compensation and the Company matches 50% of the next 2% contributed by the employee. | ||
Maximum annual contributions amount per employee in 2017 and 2016 | $ 18,000 | ||
Maximum annual contributions percentage per employee | 3.00% | ||
Employer matching percentage of compensation contributed | 50.00% | ||
Employer matching percentage of employees compensation contributed | 2.00% | ||
Contributions by company | $ 239,000 | $ 215,000 | |
Defined contribution plan, number of common stock outstanding, shares unallocated | shares | 0 | 0 | |
Common stock related to 401(k) Employee Stock Ownership Plan | $ 734,000 | $ 623,000 | |
Fair Value of Common stock related to 401(k) Employee Stock Ownership Plan | $ 989,000 | $ 672,000 | |
Employee Stock Ownership Plan | Defined Benefit Plans Adjustment | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Number of periods available to purchase shares following distribution | 2 | ||
First put option effective period | within sixty days following the distribution of the shares from the KSOP | ||
Second put option effective period | begins on the first day of the fifth month of the plan year for a sixty day period | ||
Stock Compensation Plan | Employee Stock Ownership Plan | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Common stock, shares outstanding | shares | 43,477 | 38,933 |