Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 03, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
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 | 5,124,518 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 12,505 | $ 14,669 |
Interest-bearing deposits in banks | 16,476 | 889 |
Cash and cash equivalents | 28,981 | 15,558 |
Certificates of deposit in banks | 2,992 | 5,214 |
Securities available-for-sale | 146,680 | 193,289 |
Loans held for sale | 3,737 | 3,858 |
Loans, net of unearned income | 579,777 | 547,121 |
Less allowance for loan losses | (5,387) | (4,881) |
Net loans | 574,390 | 542,240 |
Premises and equipment, net | 21,659 | 21,809 |
Accrued interest receivable | 2,129 | 2,499 |
Bank owned life insurance | 20,131 | 19,991 |
Foreclosed assets | 1,677 | 1,546 |
Deferred income taxes | 2,962 | 1,977 |
Core deposit intangible | 1,433 | 1,560 |
Goodwill | 10,050 | 10,050 |
Other assets | 4,215 | 3,701 |
Total assets | 821,036 | 823,292 |
Liabilities and Shareholders' Equity | ||
Noninterest-bearing deposits | 180,399 | 185,171 |
Interest-bearing deposits | 519,658 | 514,690 |
Total deposits | 700,057 | 699,861 |
Securities sold under agreements to repurchase | 13,139 | 13,865 |
Federal Home Loan Bank advances | 10,000 | 10,000 |
Federal funds purchased | 1,153 | |
Note payable | 5,089 | 5,357 |
Accrued interest payable and other liabilities | 3,440 | 3,107 |
Total liabilities | 731,725 | 733,343 |
Common stock related to 401(k) Employee Stock Ownership Plan | 950 | 950 |
Stockholders' Equity: | ||
Common stock ($1 par value; 10,000,000 shares authorized; 5,140,201 and 5,113,951 shares issued; 5,124,318 and 5,098,068 shares outstanding, respectively) | 5,140 | 5,114 |
Additional paid in capital | 65,212 | 64,935 |
Retained earnings | 23,213 | 22,388 |
Accumulated other comprehensive loss | (3,882) | (2,116) |
Treasury stock at cost (15,883 shares) | (372) | (372) |
Common stock related to 401(k) Employee Stock Ownership Plan | (950) | (950) |
Total stockholders' equity | 88,361 | 88,999 |
Total equity | 89,311 | 89,949 |
Total liabilities and stockholders' equity | $ 821,036 | $ 823,292 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
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 | 5,140,201 | 5,113,951 |
Common stock, shares outstanding | 5,124,318 | 5,098,068 |
Treasury stock, shares | 15,883 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest income: | ||
Loans, including fees | $ 7,326 | $ 6,785 |
Taxable securities | 625 | 702 |
Nontaxable securities | 204 | 286 |
Other interest income | 44 | 63 |
Total interest income | 8,199 | 7,836 |
Interest expense: | ||
Deposits | 582 | 519 |
Short-term borrowings | 10 | 5 |
Federal Home Loan Bank advances | 61 | |
Note payable | 60 | 61 |
Total interest expense | 713 | 585 |
Net interest income | 7,486 | 7,251 |
Provision for loan losses | 480 | 360 |
Net interest income after provision for loan losses | 7,006 | 6,891 |
Noninterest income: | ||
Service charges and fees | 760 | 699 |
Investment brokerage revenue | 42 | 25 |
Mortgage operations | 410 | 409 |
Bank owned life insurance income | 140 | 104 |
Net gain on sale of investment securities | 2 | |
Other noninterest income | 115 | 70 |
Total noninterest income | 1,469 | 1,307 |
Noninterest expense: | ||
Salaries and employee benefits | 3,369 | 2,717 |
Occupancy expenses | 342 | 330 |
Equipment rentals, depreciation, and maintenance | 258 | 183 |
Telephone and communications | 49 | 55 |
Advertising and business development | 120 | 115 |
Data processing | 417 | 442 |
Foreclosed assets, net | 23 | 38 |
Federal deposit insurance and other regulatory assessments | 82 | 92 |
Legal and other professional services | 110 | 126 |
Other operating expense | 819 | 798 |
Total noninterest expense | 5,589 | 4,896 |
Income before income taxes | 2,886 | 3,302 |
Provision for income taxes | 627 | 1,073 |
Net income | $ 2,259 | $ 2,229 |
Basic net earnings per common share | $ 0.44 | $ 0.44 |
Diluted net earnings per common share | 0.43 | 0.43 |
Dividends per common share | $ 0.28 | $ 0.25 |
Unaudited Consolidated Stateme5
Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net income | $ 2,259 | $ 2,229 |
Investment securities available-for-sale: | ||
Net unrealized gains (losses) | (2,355) | 908 |
Reclassification adjustments for net gains realized in net income | (4) | |
Income tax effect | 593 | (335) |
Other comprehensive income (loss) | (1,766) | 573 |
Comprehensive income | $ 493 | $ 2,802 |
Unaudited Consolidated Stateme6
Unaudited Consolidated Statements of Changes in Shareholders' Equity - 3 months ended Mar. 31, 2018 - 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, 2017 | $ 88,999 | $ 5,114 | $ 64,935 | $ 22,388 | $ (2,116) | $ (372) | $ (950) |
Net income | 2,259 | 2,259 | |||||
Other comprehensive loss | (1,766) | (1,766) | |||||
Exercise of stock options and warrants | 289 | 26 | 263 | ||||
Dividends declared | (1,434) | (1,434) | |||||
Stock compensation expense | 14 | 14 | |||||
Balance at Mar. 31, 2018 | $ 88,361 | $ 5,140 | $ 65,212 | $ 23,213 | $ (3,882) | $ (372) | $ (950) |
Unaudited Consolidated Stateme7
Unaudited Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
Statement Of Stockholders Equity [Abstract] | |
Exercise of stock options and warrants, shares | shares | 26,250 |
Dividends declared, per share | $ / shares | $ 0.28 |
Unaudited Consolidated Stateme8
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash Flows From (Used For) Operating Activities: | ||
Net income | $ 2,259 | $ 2,229 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Provision for loan losses | 480 | 360 |
Provision for losses on foreclosed assets | 30 | 30 |
Amortization of securities available-for-sale | 459 | 544 |
Accretion of securities available-for-sale | (7) | (8) |
Realized net gain on securities available-for-sale | (2) | |
Accretion of discount on acquired loans | (342) | (647) |
Amortization of deferred loan fees | (277) | (235) |
Amortization of core deposit intangible asset | 127 | 148 |
Stock compensation expense | 14 | 13 |
Bank owned life insurance income | (140) | (104) |
Depreciation and amortization of premises and equipment | 248 | 217 |
Gain on sale of foreclosed assets | (16) | |
Deferred income tax (benefit) | (392) | 177 |
(Increase) decrease in operating assets and (decrease) increase in operating liabilities: | ||
Loans held-for-sale | 121 | 3,059 |
Accrued interest receivable | 370 | 45 |
Other assets | (502) | 13 |
Accrued interest payable and other liabilities | 333 | (182) |
Net cash from operating activities | 2,779 | 5,643 |
Cash Flows From (Used For) Investing Activities: | ||
Sales of certificate of deposit | 1,452 | |
Maturity of certificate of deposit | 999 | |
Purchase of certificate of deposit | (249) | |
Sales | 35,854 | |
Maturities, payments, calls | 7,966 | 4,709 |
Purchases | (33,665) | |
Loan principal originations, net | (32,319) | 4,493 |
Proceeds from sale of foreclosed assets | 147 | 369 |
Purchases of premises and equipment | (98) | (579) |
Purchase of restricted equity securities, net | (12) | (83) |
Net cash from (used for) investing activities | 13,740 | (24,756) |
Cash Flows From (Used For) Financing Activities: | ||
Net increase (decrease) in deposits | 196 | (2,975) |
Net (decrease) increase in securities sold under agreements to repurchase | (726) | 236 |
Proceeds from Federal Home Loan Bank advances | 20,000 | |
Repayment of Federal Home Loan Bank advances | (20,000) | |
Repayment of note payable | (268) | (268) |
Federal funds purchased | (1,153) | |
Proceeds from exercise of common stock options and warrants | 289 | 50 |
Purchase of treasury stock | (29) | |
Cash dividends | (1,434) | (1,272) |
Net cash used for financing activities | (3,096) | (4,258) |
Net Change In Cash And Cash Equivalents | 13,423 | (23,371) |
Cash and Cash Equivalents At Beginning Of Period | 15,558 | 42,499 |
Cash and Cash Equivalents At End Of Period | 28,981 | 19,128 |
Cash Payments For: | ||
Interest paid to depositors | 582 | 586 |
Interest paid on borrowings | 125 | 66 |
Non-cash investing and financing activities: | ||
Transfer of loans to foreclosed assets | $ 308 | $ 2,428 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
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, Autauga, Elmore, Etowah, Lee and Tallapoosa 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. The Company is regulated by the Federal Reserve Bank (“FRB”) and is also subject to periodic examinations. 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 accounts and transactions have been eliminated in consolidation. 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, 2017, which are contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 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 the Company 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 the Company include the determination of the allowance for loan losses, investment securities impairment, and assessment of deferred tax assets and liabilities, and therefore are critical accounting policies. Management does not anticipate any material changes to estimates in the near term. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: external market factors such as market interest rates and employment rates, changes to operating policies and procedures, economic conditions in our markets, and changes in applicable banking regulations. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the consolidated financial statements in any individual reporting period presented. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 2 – 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 (amounts in thousands): For the Three Months Ended March 31, 2018 2017 Net earnings available to common shareholders $ 2,259 $ 2,229 Weighted average common shares outstanding 5,111,704 5,084,621 Dilutive effect of stock options 90,888 57,352 Diluted common shares 5,202,592 5,141,973 Basic earnings per common share $ 0.44 $ 0.44 Diluted earnings per common share $ 0.43 $ 0.43 |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 3 – Investment Securities Securities available-for-sale at March 31, 2018 and December 31, 2017 are as follows (amounts in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2018: Securities available-for-sale: Residential mortgage-backed $ 104,666 $ - $ (4,405 ) $ 100,261 U.S. govt. sponsored enterprises 9,695 - (263 ) 9,432 State, county, and municipal 36,100 83 (510 ) 35,673 Corporate debt obligations 1,383 - (69 ) 1,314 Totals $ 151,844 $ 83 $ (5,247 ) $ 146,680 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2017: Securities available-for-sale: Residential mortgage-backed $ 125,768 $ 23 $ (2,819 ) $ 122,972 U.S. govt. sponsored enterprises 13,176 8 (185 ) 12,999 State, county, and municipal 55,339 511 (349 ) 55,501 Corporate debt obligations 1,831 11 (25 ) 1,817 Totals $ 196,114 $ 553 $ (3,378 ) $ 193,289 Management evaluates securities for other-than-temporary impairment on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Details concerning investment securities with unrealized losses as of March 31, 2018 and December 31, 2017 are as follows (amounts in thousands): Less Than 12 Months More Than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2018: Securities available-for-sale: Residential mortgage-backed $ 30,148 $ 845 $ 70,113 $ 3,560 $ 100,261 $ 4,405 U.S. govt. sponsored enterprises 5,813 113 3,619 150 9,432 263 State, county & municipal 15,889 217 12,288 293 28,177 510 Corporate debt obligations 1,000 - 315 69 1,315 69 Totals $ 52,850 $ 1,175 $ 86,335 $ 4,072 $ 139,185 $ 5,247 December 31, 2017: Securities available-for-sale: Residential mortgage-backed $ 43,811 $ 445 $ 75,046 $ 2,374 $ 118,857 $ 2,819 U.S. govt. sponsored enterprises 8,630 60 3,698 125 12,328 185 State, county & municipal 14,535 130 14,559 219 29,094 349 Corporate debt obligations 1,000 - 355 25 1,355 25 Totals $ 67,976 $ 635 $ 93,658 $ 2,743 $ 161,634 $ 3,378 As of March 31, 2018, 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. The Company has the ability and intent to hold its securities for a period of time sufficient to allow for a recovery in fair value. There were no other-than-temporary impairments charged to earnings during the three months ended March 31, 2018 or 2017. The Company owned a total of 149 securities with unrealized losses of $5.25 million at March 31, 2018. As of March 31, 2018 and December 31, 2017, securities with a carrying value of approximately $29.4 million and $28.5 million, respectively, were pledged to secure public deposits as required by law. At March 31, 2018 and December 31, 2017, the carrying value of securities pledged to secure repurchase agreements was approximately $18.9 million and $20 million, respectively. During the three months ended March 31, 2018, the Company sold investment securities for proceeds of $35.9 million and realized gains of $2 thousand. No securities were sold during the three months ended March 31, 2017. The amortized cost and estimated fair value of securities available-for-sale at March 31, 2018, 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 $ 4,710 $ 4,700 1 to 5 years 15,066 14,854 5 to 10 years 7,860 7,711 After 10 years 19,542 19,154 47,178 46,419 Residential mortgage-backed securities 104,666 100,261 Totals $ 151,844 $ 146,680 |
Loans, Allowance for Loan Losse
Loans, Allowance for Loan Losses and Credit Quality | 3 Months Ended |
Mar. 31, 2018 | |
Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract] | |
Loans, Allowance for Loan Losses and Credit Quality | Note 4 – Loans, Allowance for Loan Losses and Credit Quality Major classifications of loans at March 31, 2018 and December 31, 2017 are summarized as follows (amounts in thousands): March 31, 2018 December 31, 2017 Amount % of Total Amount % of Total Residential real estate: Closed-end 1-4 family - first lien $ 121,826 21.2 % $ 115,776 21.4 % Closed-end 1-4 family - junior lien 4,824 0.8 % 4,969 0.9 % Multi-family 16,981 3.0 % 16,977 3.1 % Total residential real estate 143,631 25.0 % 137,722 25.4 % Commercial real estate: Nonfarm nonresidential 178,166 31.0 % 173,443 32.0 % Farmland 7,764 1.4 % 7,782 1.4 % Total commercial real estate 185,930 32.4 % 181,225 33.4 % Construction and land development: Residential 34,658 6.0 % 25,830 4.8 % Other 41,659 7.3 % 40,734 7.5 % Total construction and land development 76,317 13.3 % 66,564 12.3 % Home equity lines of credit 36,210 6.3 % 35,833 6.6 % Commercial loans: Other commercial loans 103,487 18.0 % 95,896 17.7 % Agricultural 1,283 0.2 % 1,581 0.3 % State, county, and municipal loans 12,686 2.2 % 8,332 1.5 % Total commercial loans 117,456 20.4 % 105,809 19.5 % Consumer loans 23,203 4.0 % 23,231 4.3 % Total gross loans 582,747 101.4 % 550,384 101.5 % Allowance for loan losses (5,387 ) -0.9 % (4,881 ) -0.9 % Net deferred loan fees and discounts (2,970 ) -0.5 % (3,263 ) -0.6 % Net loans $ 574,390 100.0 % $ 542,240 100.0 % 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. For purposes of the disclosures required pursuant to ASC 310, the loan portfolio was disaggregated into segments and then further disaggregated into classes for certain disclosures. A portfolio segment is defined as the level at which an entity develops and documents a systematic method for determining its allowance for loan losses. There are three primary loan portfolio segments that include real estate, commercial, and consumer. A class is generally determined based on the initial measurement attribute, risk characteristic of the loan, and the Company’s method for monitoring and assessing credit risk. Classes within the real estate portfolio segment include residential real estate, commercial real estate, construction and land development and home equity lines of credit. The portfolio segments of non-real estate commercial loans and consumer loans have not been further segregated by class. The following describe risk characteristics relevant to each of the portfolio segments: Real estate - As discussed below, the Company offers various types of real estate loan products. All loans within this portfolio segment are particularly sensitive to the valuation of real estate: Residential real estate and home equity lines of credit are repaid by various means such as a borrower’s income, sale of the property, or rental income derived from the property. Commercial real estate loans include both owner-occupied commercial real estate loans and other commercial real estate loans secured by income producing properties. Owner-occupied commercial real estate loans to operating businesses are long-term financing of land and buildings. These loans are repaid by cash flow generated from the business operation. Real estate loans for income-producing properties such as office and industrial buildings, and retail shopping centers are repaid from rent income derived from the properties. are repaid by various means such as a borrower’s income, sale of the property, or rental income derived from the property. Commercial loans - The commercial loan portfolio segment includes commercial and industrial loans, agricultural loans and loans to state and municipalities. These loans include those loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases, or expansion projects. Loans are repaid by business cash flows or tax revenues. Collection risk in this portfolio is driven by the creditworthiness of the underlying borrower, particularly cash flows from the customers’ business operations. Consumer loans - The consumer loan portfolio segment includes direct consumer installment loans, overdrafts and other revolving credit loans. Loans in this portfolio are sensitive to unemployment and other key consumer economic measures. 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 below (amounts in thousands). Acquired loans are not included in the allowance for loan losses calculation, as these loans are recorded at fair value and there has been no further indication of credit deterioration that would require an additional provision. 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, 2017 $ 1,167 $ 1,604 $ 606 $ 333 $ 954 $ 217 $ 4,881 Provision for loan losses 65 122 110 46 117 20 480 Loan charge-offs - - - - (40 ) (30 ) (70 ) Loan recoveries - 3 22 2 66 3 96 Balance - March 31, 2018 $ 1,232 $ 1,729 $ 738 $ 381 $ 1,097 $ 210 $ 5,387 Ending balance: Individually evaluated for impairment $ 524 $ 176 $ 15 $ - $ 171 $ 9 $ 895 Collectively evaluated for impairment 708 1,553 723 381 926 201 4,492 Total $ 1,232 $ 1,729 $ 738 $ 381 $ 1,097 $ 210 $ 5,387 Loans: Individually evaluated for impairment $ 2,241 $ 2,266 $ 166 $ 100 $ 296 $ 85 $ 5,154 Collectively evaluated for impairment 141,390 183,664 76,151 36,110 117,160 23,118 577,593 Total $ 143,631 $ 185,930 $ 76,317 $ 36,210 $ 117,456 $ 23,203 $ 582,747 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 210 (229 ) 55 163 75 86 360 Loan charge-offs - - (115 ) (107 ) (24 ) (88 ) (334 ) Loan recoveries - - 3 1 22 1 27 Balance - March 31, 2017 $ 773 $ 1,277 $ 666 $ 244 $ 902 $ 198 $ 4,060 Ending balance: Individually evaluated for impairment $ 296 $ 384 $ - $ - $ 432 $ 15 $ 1,127 Collectively evaluated for impairment 477 893 666 244 470 183 2,933 Total $ 773 $ 1,277 $ 666 $ 244 $ 902 $ 198 $ 4,060 Loans: Individually evaluated for impairment $ 2,326 $ 2,797 $ - $ - $ 650 $ 37 $ 5,810 Collectively evaluated for impairment 129,494 167,990 60,757 34,888 93,858 22,186 509,173 Total $ 131,820 $ 170,787 $ 60,757 $ 34,888 $ 94,508 $ 22,223 $ 514,983 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 March 31, 2018 (amounts in thousands). Purchased credit-impaired loans are not included in these tables because they are carried at fair value and accordingly have no related associated allowance. Nonaccruing Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 1,415 $ 1,415 $ - $ 1,415 $ 524 Commercial real estate 494 322 322 - - Construction and land development - - - - - Total mortgage loans on real estate 1,909 1,737 322 1,415 524 Home equity lines of credit - - - - - Commercial loans 146 146 - 146 146 Consumer loans 204 54 54 - - Total Loans $ 2,259 $ 1,937 $ 376 $ 1,561 $ 670 Accruing Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 826 $ 826 $ 826 $ - $ - Commercial real estate 1,944 1,944 530 1,414 176 Construction and land development 229 166 - 166 15 Total mortgage loans on real estate 2,999 2,936 1,356 1,580 191 Home equity lines of credit 100 100 100 - - Commercial loans 150 150 125 25 25 Consumer loans 31 31 - 31 9 Total Loans $ 3,280 $ 3,217 $ 1,581 $ 1,636 $ 225 Total Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 2,241 $ 2,241 $ 826 $ 1,415 $ 524 Commercial real estate 2,438 2,266 852 1,414 176 Construction and land development 229 166 - 166 15 Total mortgage loans on real estate 4,908 4,673 1,678 2,995 715 Home equity lines of credit 100 100 100 - - Commercial loans 296 296 125 171 171 Consumer loans 235 85 54 31 9 Total Loans $ 5,539 $ 5,154 $ 1,957 $ 3,197 $ 895 The following table presents impaired loans by class of loans as of December 31, 2017 (amounts in thousands). Purchased credit-impaired loans are not included in these tables because they are carried at fair value and accordingly have no related associated allowance. Nonaccruing Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 1,767 $ 1,767 $ 350 $ 1,417 $ 526 Commercial real estate 500 328 328 - - Construction and land development - - - - - Total mortgage loans on real estate 2,267 2,095 678 1,417 526 Home equity lines of credit - - - - - Commercial loans - - - - - Consumer loans 204 54 54 - - Total Loans $ 2,471 $ 2,149 $ 732 $ 1,417 $ 526 Accruing Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 844 $ 844 $ 844 $ - $ - Commercial real estate 1,968 1,967 540 1,427 187 Construction and land development 232 168 - 168 11 Total mortgage loans on real estate 3,044 2,979 1,384 1,595 198 Home equity lines of credit 100 100 100 - - Commercial loans 300 301 127 174 174 Consumer loans 33 33 - 33 10 Total Loans $ 3,477 $ 3,413 $ 1,611 $ 1,802 $ 382 Total Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 2,611 $ 2,611 $ 1,194 $ 1,417 $ 526 Commercial real estate 2,468 2,295 868 1,427 187 Construction and land development 232 168 - 168 11 Total mortgage loans on real estate 5,311 5,074 2,062 3,012 724 Home equity lines of credit 100 100 100 - - Commercial loans 300 301 127 174 174 Consumer loans 237 87 54 33 10 Total Loans $ 5,948 $ 5,562 $ 2,343 $ 3,219 $ 908 The following table presents the average recorded investment in impaired loans and the interest income recognized on impaired loans in the three months ended March 31, 2018 and 2017 by loan category (amounts in thousands). Three Months Ended Three Months Ended March 31, 2018 March 31, 2017 Average Ending Average Ending Recorded Recorded Interest Recorded Recorded Interest Investment Investment Income Investment Investment Income Mortgage loans on real estate: Residential real estate $ 2,249 $ 2,241 $ 12 $ 1,720 $ 2,326 $ 18 Commercial real estate 2,281 2,266 23 3,562 2,797 25 Construction and land development 167 166 2 15 - - Total mortgage loans on real estate 4,697 4,673 37 5,297 5,123 43 Home equity lines of credit 100 100 1 50 - 1 Commercial loans 298 296 2 577 650 6 Consumer loans 86 85 - 19 37 - Total Loans $ 5,181 $ 5,154 $ 40 $ 5,943 $ 5,810 $ 50 The following tables present the aging of loans and non-accrual loan balances as of March 31, 2018 and December 31, 2017, by class of loans (amounts in thousands). Accruing Loans As of March 31, 2018 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 140,727 $ 988 $ 51 $ 1,865 $ 143,631 Commercial real estate 185,566 42 - 322 185,930 Construction and land development 75,499 792 - 26 76,317 Total mortgage loans on real estate 401,792 1,822 51 2,213 405,878 Home equity lines of credit 36,105 26 - 79 36,210 Commercial loans 116,808 477 - 171 117,456 Consumer loans 22,989 79 24 111 23,203 Total Loans $ 577,694 $ 2,404 $ 75 $ 2,574 $ 582,747 Accruing Loans As of December 31, 2017 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 134,565 $ 857 $ 410 $ 1,890 $ 137,722 Commercial real estate 180,826 - - 399 181,225 Construction and land development 66,275 221 - 68 66,564 Total mortgage loans on real estate 381,666 1,078 410 2,357 385,511 Home equity lines of credit 35,591 152 10 80 35,833 Commercial loans 105,081 728 - - 105,809 Consumer loans 22,906 175 1 149 23,231 Total Loans $ 545,244 $ 2,133 $ 421 $ 2,586 $ 550,384 The Bank categorizes loans in risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Bank analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a continuous basis. The Bank uses the following definitions for its risk ratings: Special Mention - Weakness exists that could cause future impairment, including the deterioration of financial ratios, past due status and questionable management capabilities. Collateral values generally afford adequate coverage but may not be immediately marketable. Substandard - Specific and well-defined weaknesses exist that may include poor liquidity and deterioration of financial ratios. The loan may be past due and related deposit accounts experiencing overdrafts. Immediate corrective action is necessary. Doubtful - Specific weaknesses characterized as Substandard that are severe enough to make collection in full unlikely. There is no reliable secondary source of full repayment. Loans classified as doubtful will be placed on non-accrual, analyzed and fully or partially charged-off based on review of collateral and other relevant factors. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be Pass rated loans. As of March 31, 2018 and December 31, 2017, and based on the most recent analysis performed as of those dates, the risk category of loans by class of loans is as follows (amounts in thousands): As of March 31, 2018 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential $ 139,392 $ 1,252 $ 2,987 $ - $ 143,631 Commercial real estate 180,482 4,220 1,228 - 185,930 Construction and land development 75,501 638 178 - 76,317 Total mortgage loans on real estate 395,375 6,110 4,393 - 405,878 Home equity lines of credit 35,995 14 201 - 36,210 Commercial loans 114,849 2,123 484 - 117,456 Consumer loans 22,842 79 282 - 23,203 Total Loans $ 569,061 $ 8,326 $ 5,360 $ - $ 582,747 As of December 31, 2017 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential $ 132,914 $ 1,390 $ 3,418 $ - $ 137,722 Commercial real estate 175,208 4,238 1,779 - 181,225 Construction and land development 65,656 750 158 - 66,564 Total mortgage loans on real estate 373,778 6,378 5,355 - 385,511 Home equity lines of credit 35,580 14 203 36 35,833 Commercial loans 103,137 2,234 438 - 105,809 Consumer loans 22,865 58 308 - 23,231 Total Loans $ 535,360 $ 8,684 $ 6,304 $ 36 $ 550,384 |
Fair Value Measurements and Dis
Fair Value Measurements and Disclosures | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements and Disclosures | Note 5 – Fair Value Measurements and Disclosures The Company 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, the Company 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 The Company 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 and mortgage loans held-for-sale 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. Mortgage loans held-for-sale are carried at cost, which is a reasonable estimate of fair value. Bank owned life insurance Accrued interest receivable Foreclosed assets Deposit liabilities Accrued interest payable Securities sold under agreements to repurchase Federal Home Loan Bank advances Federal funds purchased Note payable Commitments to extend credit and standby letters of credit Assets and liabilities measured at fair value on a recurring basis Fair Value Measurements At Reporting Date Using: March 31, 2018 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 $ 100,261 $ - $ 100,261 $ - U.S. government sponsored enterprises 9,432 - 9,432 - State, county, and municipal 35,673 - 35,673 - Corporate debt obligations 1,314 - 1,314 - Totals $ 146,680 $ - $ 146,680 $ - Fair Value Measurements At Reporting Date Using: December 31, 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 $ 122,972 $ - $ 122,972 $ - U.S. government sponsored enterprises 12,999 - 12,999 - State, county, and municipal 55,501 - 55,501 - Corporate debt obligations $ 1,817 - 1,817 - Totals $ 193,289 $ - $ 193,289 $ - Assets measured at fair value on a nonrecurring basis Fair Value Measurements At Reporting Date Using: March 31, 2018 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 $ 4,259 $ - $ - $ 4,259 Foreclosed assets 1,677 - - 1,677 Totals $ 5,936 $ - $ - $ 5,936 December 31, 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 $ 4,654 $ - $ - $ 4,654 Foreclosed assets 1,546 - - 1,546 Totals $ 6,200 $ - $ - $ 6,200 The Company 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 the Company’s financial instruments as of March 31, 2018 and December 31, 2017 are as follows (amounts in thousands): Estimated Fair Value March 31, 2018 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 28,981 $ 28,981 $ - $ - Certificates of deposit in banks 2,992 - 2,992 - Securities available-for-sale 146,680 - 146,680 - Loans held-for-sale 3,737 - 3,737 - Restricted equity securities 1,547 - - 1,547 Loans receivable 574,390 - 565,410 4,259 Bank owned life insurance 20,131 - 20,131 - Accrued interest receivable 2,129 - 2,129 - Financial liabilities: Deposits 700,057 - 669,697 - Accrued interest payable 127 - 127 - Securities sold under agreements to repurchase 13,139 - 13,139 - Federal Home Loan Bank advances 10,000 - 10,000 - Note payable 5,089 - 5,089 - Estimated Fair Value December 31, 2017 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 15,558 $ 15,558 $ - $ - Certificates of deposit in banks 5,214 - 5,214 - Securities available-for-sale 193,289 - 193,289 - Loans held-for-sale 3,858 - 3,858 - Restricted equity securities 1,259 - - 1,259 Loans receivable 542,240 - 536,701 4,654 Bank owned life insurance 19,991 - 19,991 - Accrued interest receivable 2,499 - 2,499 - Financial liabilities: Deposits 699,861 - 675,871 - Accrued interest payable 121 - 121 - Securities sold under agreements to repurchase 13,865 - 13,865 - Federal Home Loan Bank advances 10,000 - 9,997 - Federal funds purchased 1,153 1,153 Note payable 5,357 - 5,357 - The estimated fair values of the standby letters of credit and loan commitments on which the committed interest rate is less than the current market rate are insignificant at March 31, 2018 and December 31, 2017. The Company 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 the Company’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Company. 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. |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Changes And Error Corrections [Abstract] | |
Recently Issued Accounting Pronouncements | Note 6 – Recently Issued Accounting Pronouncements In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers—Deferral of the Effective Date. ASU 2015-14 defers the effective date of ASU 2014-09, Revenue from Contracts with Customers, which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, by one year. ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. Under ASU 2015-14, ASU 2014-09 is now effective for annual periods beginning after December 15, 2017 and interim periods within those years. The Company’s revenue is significantly weighted towards net interest income on financial assets and liabilities, which is explicitly excluded from the scope of the new standard, and noninterest income has not been as significant. The Company is continuing to assess its revenue streams and reviewing its contracts with customers that are potentially affected by the new guidance including fees on deposits, gains and losses on the sale of other real estate owned, credit and debit card interchange fees, and credit card revenue, to determine the potential impact the new guidance is expected to have on the Company’s consolidated financial statements. However, the Company’s revenue recognition pattern for these revenue streams is not expected to change materially from current practice. Consequently, the Company does not expect the adoption of this ASU to have a material impact on its financial statements. 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 does not expect the impact of this ASU to have a material effect 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. I n January 2017, FASB issued ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” ASU 2017-04 simplifies the manner in which an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill with the carrying amount of that goodwill. In computing the implied fair value of goodwill under Step 2, an entity, prior to the amendments in ASU 2017-04, had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities, including unrecognized assets and liabilities, in accordance with the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. However, under the amendments in ASU 2017-04, an entity should (1) perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, and (2) recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, with the understanding that the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, ASU 2017-04 removes the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails such qualitative test, to perform Step 2 of the goodwill impairment test. ASU 2017-04 is effective prospectively for annual, or any interim, goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company adopted ASU 2017-04 in 2017 and based on the Company’s annual goodwill impairment test performed as of December 31, 2017 under ASU 2017-04, the fair value of its reporting units exceeded the carrying value and, therefore, the related goodwill was not impaired. 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. The amendments 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. 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 ASU are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. The amendments should be applied on a modified retrospective basis, with a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company does not believe that this ASU will have an impact on its financial position or results of operations. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718), Scope of Modification Accounting. The amendments provide guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting under Topic 718. The guidance is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The amendments in this ASU should be applied prospectively to an award modified on or after the adoption date. The Company does not expect the impact to its consolidated financial statements upon adoption to be material. In February 2018, FASB issued ASU 2018-02, “Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” ASU 2018-02 seeks to help entities reclassify certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act of 2017, enacted on December 22, 2017. ASU 2018-02 was issued in response to concerns regarding current guidance in GAAP that requires deferred tax liabilities and assets to be adjusted for the effect of a change in tax laws or rates with the effect included in income from continuing operations in the reporting period that includes the enactment date, even in situations in which the related income tax effects of items in accumulated other comprehensive income were originally recognized in other comprehensive income (loss), rather than net income, and as a result the stranded tax effects would not reflect the appropriate tax rate. The amendments of ASU 2018-02 allow an entity to make a reclassification from accumulated other comprehensive income (loss) to retained earnings for the stranded tax effects, which is the difference between the historical corporate income tax rate of 34% and the newly enacted corporate income tax rate of 21%. ASU 2018-02 is effective for fiscal years beginning after December 31, 2018; however, public business entities are allowed to early adopt the amendments of ASU 2018-02. As a result of the re-measurement of the Company’s deferred tax assets following the enactment of the Tax Reform Act, accumulated other comprehensive loss included $333 thousand of stranded tax effects at December 31, 2017. The Company early adopted the amendments of 2018-02 as of December 31, 2017 and made the election to reclassify the stranded tax effects from accumulated other comprehensive loss to retained earnings at December 31, 2017. |
Defined Contribution Plan
Defined Contribution Plan | 3 Months Ended |
Mar. 31, 2018 | |
Compensation And Retirement Disclosure [Abstract] | |
Defined Contribution Plan | Note 7 – 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 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 March 31, 2018 and December 31, 2017. The cost of the KSOP shares totaled |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 (amounts in thousands): For the Three Months Ended March 31, 2018 2017 Net earnings available to common shareholders $ 2,259 $ 2,229 Weighted average common shares outstanding 5,111,704 5,084,621 Dilutive effect of stock options 90,888 57,352 Diluted common shares 5,202,592 5,141,973 Basic earnings per common share $ 0.44 $ 0.44 Diluted earnings per common share $ 0.43 $ 0.43 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of Securities Available for Sale | Securities available-for-sale at March 31, 2018 and December 31, 2017 are as follows (amounts in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2018: Securities available-for-sale: Residential mortgage-backed $ 104,666 $ - $ (4,405 ) $ 100,261 U.S. govt. sponsored enterprises 9,695 - (263 ) 9,432 State, county, and municipal 36,100 83 (510 ) 35,673 Corporate debt obligations 1,383 - (69 ) 1,314 Totals $ 151,844 $ 83 $ (5,247 ) $ 146,680 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2017: Securities available-for-sale: Residential mortgage-backed $ 125,768 $ 23 $ (2,819 ) $ 122,972 U.S. govt. sponsored enterprises 13,176 8 (185 ) 12,999 State, county, and municipal 55,339 511 (349 ) 55,501 Corporate debt obligations 1,831 11 (25 ) 1,817 Totals $ 196,114 $ 553 $ (3,378 ) $ 193,289 |
Schedule of Details Concerning Investment Securities with Unrealized Losses | Details concerning investment securities with unrealized losses as of March 31, 2018 and December 31, 2017 are as follows (amounts in thousands): Less Than 12 Months More Than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2018: Securities available-for-sale: Residential mortgage-backed $ 30,148 $ 845 $ 70,113 $ 3,560 $ 100,261 $ 4,405 U.S. govt. sponsored enterprises 5,813 113 3,619 150 9,432 263 State, county & municipal 15,889 217 12,288 293 28,177 510 Corporate debt obligations 1,000 - 315 69 1,315 69 Totals $ 52,850 $ 1,175 $ 86,335 $ 4,072 $ 139,185 $ 5,247 December 31, 2017: Securities available-for-sale: Residential mortgage-backed $ 43,811 $ 445 $ 75,046 $ 2,374 $ 118,857 $ 2,819 U.S. govt. sponsored enterprises 8,630 60 3,698 125 12,328 185 State, county & municipal 14,535 130 14,559 219 29,094 349 Corporate debt obligations 1,000 - 355 25 1,355 25 Totals $ 67,976 $ 635 $ 93,658 $ 2,743 $ 161,634 $ 3,378 |
Schedule of Amortized Cost and Estimated Fair value of Securities Available-for-Sale | The amortized cost and estimated fair value of securities available-for-sale at March 31, 2018, 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 $ 4,710 $ 4,700 1 to 5 years 15,066 14,854 5 to 10 years 7,860 7,711 After 10 years 19,542 19,154 47,178 46,419 Residential mortgage-backed securities 104,666 100,261 Totals $ 151,844 $ 146,680 |
Loans, Allowance for Loan Los18
Loans, Allowance for Loan Losses and Credit Quality (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract] | |
Schedule of Major Classifications of Loans | Major classifications of loans at March 31, 2018 and December 31, 2017 are summarized as follows (amounts in thousands): March 31, 2018 December 31, 2017 Amount % of Total Amount % of Total Residential real estate: Closed-end 1-4 family - first lien $ 121,826 21.2 % $ 115,776 21.4 % Closed-end 1-4 family - junior lien 4,824 0.8 % 4,969 0.9 % Multi-family 16,981 3.0 % 16,977 3.1 % Total residential real estate 143,631 25.0 % 137,722 25.4 % Commercial real estate: Nonfarm nonresidential 178,166 31.0 % 173,443 32.0 % Farmland 7,764 1.4 % 7,782 1.4 % Total commercial real estate 185,930 32.4 % 181,225 33.4 % Construction and land development: Residential 34,658 6.0 % 25,830 4.8 % Other 41,659 7.3 % 40,734 7.5 % Total construction and land development 76,317 13.3 % 66,564 12.3 % Home equity lines of credit 36,210 6.3 % 35,833 6.6 % Commercial loans: Other commercial loans 103,487 18.0 % 95,896 17.7 % Agricultural 1,283 0.2 % 1,581 0.3 % State, county, and municipal loans 12,686 2.2 % 8,332 1.5 % Total commercial loans 117,456 20.4 % 105,809 19.5 % Consumer loans 23,203 4.0 % 23,231 4.3 % Total gross loans 582,747 101.4 % 550,384 101.5 % Allowance for loan losses (5,387 ) -0.9 % (4,881 ) -0.9 % Net deferred loan fees and discounts (2,970 ) -0.5 % (3,263 ) -0.6 % Net loans $ 574,390 100.0 % $ 542,240 100.0 % |
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 below (amounts in thousands). 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, 2017 $ 1,167 $ 1,604 $ 606 $ 333 $ 954 $ 217 $ 4,881 Provision for loan losses 65 122 110 46 117 20 480 Loan charge-offs - - - - (40 ) (30 ) (70 ) Loan recoveries - 3 22 2 66 3 96 Balance - March 31, 2018 $ 1,232 $ 1,729 $ 738 $ 381 $ 1,097 $ 210 $ 5,387 Ending balance: Individually evaluated for impairment $ 524 $ 176 $ 15 $ - $ 171 $ 9 $ 895 Collectively evaluated for impairment 708 1,553 723 381 926 201 4,492 Total $ 1,232 $ 1,729 $ 738 $ 381 $ 1,097 $ 210 $ 5,387 Loans: Individually evaluated for impairment $ 2,241 $ 2,266 $ 166 $ 100 $ 296 $ 85 $ 5,154 Collectively evaluated for impairment 141,390 183,664 76,151 36,110 117,160 23,118 577,593 Total $ 143,631 $ 185,930 $ 76,317 $ 36,210 $ 117,456 $ 23,203 $ 582,747 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 210 (229 ) 55 163 75 86 360 Loan charge-offs - - (115 ) (107 ) (24 ) (88 ) (334 ) Loan recoveries - - 3 1 22 1 27 Balance - March 31, 2017 $ 773 $ 1,277 $ 666 $ 244 $ 902 $ 198 $ 4,060 Ending balance: Individually evaluated for impairment $ 296 $ 384 $ - $ - $ 432 $ 15 $ 1,127 Collectively evaluated for impairment 477 893 666 244 470 183 2,933 Total $ 773 $ 1,277 $ 666 $ 244 $ 902 $ 198 $ 4,060 Loans: Individually evaluated for impairment $ 2,326 $ 2,797 $ - $ - $ 650 $ 37 $ 5,810 Collectively evaluated for impairment 129,494 167,990 60,757 34,888 93,858 22,186 509,173 Total $ 131,820 $ 170,787 $ 60,757 $ 34,888 $ 94,508 $ 22,223 $ 514,983 |
Summary of Impaired Loans by Class of Loans | The following table presents impaired loans by class of loans as of March 31, 2018 (amounts in thousands). Nonaccruing Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 1,415 $ 1,415 $ - $ 1,415 $ 524 Commercial real estate 494 322 322 - - Construction and land development - - - - - Total mortgage loans on real estate 1,909 1,737 322 1,415 524 Home equity lines of credit - - - - - Commercial loans 146 146 - 146 146 Consumer loans 204 54 54 - - Total Loans $ 2,259 $ 1,937 $ 376 $ 1,561 $ 670 Accruing Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 826 $ 826 $ 826 $ - $ - Commercial real estate 1,944 1,944 530 1,414 176 Construction and land development 229 166 - 166 15 Total mortgage loans on real estate 2,999 2,936 1,356 1,580 191 Home equity lines of credit 100 100 100 - - Commercial loans 150 150 125 25 25 Consumer loans 31 31 - 31 9 Total Loans $ 3,280 $ 3,217 $ 1,581 $ 1,636 $ 225 Total Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 2,241 $ 2,241 $ 826 $ 1,415 $ 524 Commercial real estate 2,438 2,266 852 1,414 176 Construction and land development 229 166 - 166 15 Total mortgage loans on real estate 4,908 4,673 1,678 2,995 715 Home equity lines of credit 100 100 100 - - Commercial loans 296 296 125 171 171 Consumer loans 235 85 54 31 9 Total Loans $ 5,539 $ 5,154 $ 1,957 $ 3,197 $ 895 The following table presents impaired loans by class of loans as of December 31, 2017 (amounts in thousands). Nonaccruing Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 1,767 $ 1,767 $ 350 $ 1,417 $ 526 Commercial real estate 500 328 328 - - Construction and land development - - - - - Total mortgage loans on real estate 2,267 2,095 678 1,417 526 Home equity lines of credit - - - - - Commercial loans - - - - - Consumer loans 204 54 54 - - Total Loans $ 2,471 $ 2,149 $ 732 $ 1,417 $ 526 Accruing Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 844 $ 844 $ 844 $ - $ - Commercial real estate 1,968 1,967 540 1,427 187 Construction and land development 232 168 - 168 11 Total mortgage loans on real estate 3,044 2,979 1,384 1,595 198 Home equity lines of credit 100 100 100 - - Commercial loans 300 301 127 174 174 Consumer loans 33 33 - 33 10 Total Loans $ 3,477 $ 3,413 $ 1,611 $ 1,802 $ 382 Total Impaired Loans Unpaid Principal Balance Recorded Investment Impaired Loans With No Allowance Impaired Loans With Allowance Allowance for Loan Losses Mortgage loans on real estate: Residential $ 2,611 $ 2,611 $ 1,194 $ 1,417 $ 526 Commercial real estate 2,468 2,295 868 1,427 187 Construction and land development 232 168 - 168 11 Total mortgage loans on real estate 5,311 5,074 2,062 3,012 724 Home equity lines of credit 100 100 100 - - Commercial loans 300 301 127 174 174 Consumer loans 237 87 54 33 10 Total Loans $ 5,948 $ 5,562 $ 2,343 $ 3,219 $ 908 |
Summary of Average Recorded Investment and Interest Income Recognized on Impaired Loans | The following table presents the average recorded investment in impaired loans and the interest income recognized on impaired loans in the three months ended March 31, 2018 and 2017 by loan category (amounts in thousands). Three Months Ended Three Months Ended March 31, 2018 March 31, 2017 Average Ending Average Ending Recorded Recorded Interest Recorded Recorded Interest Investment Investment Income Investment Investment Income Mortgage loans on real estate: Residential real estate $ 2,249 $ 2,241 $ 12 $ 1,720 $ 2,326 $ 18 Commercial real estate 2,281 2,266 23 3,562 2,797 25 Construction and land development 167 166 2 15 - - Total mortgage loans on real estate 4,697 4,673 37 5,297 5,123 43 Home equity lines of credit 100 100 1 50 - 1 Commercial loans 298 296 2 577 650 6 Consumer loans 86 85 - 19 37 - Total Loans $ 5,181 $ 5,154 $ 40 $ 5,943 $ 5,810 $ 50 |
Schedule of Aging of Loans and Non-Accrual Loan | The following tables present the aging of loans and non-accrual loan balances as of March 31, 2018 and December 31, 2017, by class of loans (amounts in thousands). Accruing Loans As of March 31, 2018 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 140,727 $ 988 $ 51 $ 1,865 $ 143,631 Commercial real estate 185,566 42 - 322 185,930 Construction and land development 75,499 792 - 26 76,317 Total mortgage loans on real estate 401,792 1,822 51 2,213 405,878 Home equity lines of credit 36,105 26 - 79 36,210 Commercial loans 116,808 477 - 171 117,456 Consumer loans 22,989 79 24 111 23,203 Total Loans $ 577,694 $ 2,404 $ 75 $ 2,574 $ 582,747 Accruing Loans As of December 31, 2017 Current 30-89 Days Past Due 90+ Days Past Due Nonaccrual Loans Total Loans Mortgage loans on real estate: Residential $ 134,565 $ 857 $ 410 $ 1,890 $ 137,722 Commercial real estate 180,826 - - 399 181,225 Construction and land development 66,275 221 - 68 66,564 Total mortgage loans on real estate 381,666 1,078 410 2,357 385,511 Home equity lines of credit 35,591 152 10 80 35,833 Commercial loans 105,081 728 - - 105,809 Consumer loans 22,906 175 1 149 23,231 Total Loans $ 545,244 $ 2,133 $ 421 $ 2,586 $ 550,384 |
Schedule of Risk Category of Loans by Class of Loans | Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be Pass rated loans. As of March 31, 2018 and December 31, 2017, and based on the most recent analysis performed as of those dates, the risk category of loans by class of loans is as follows (amounts in thousands): As of March 31, 2018 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential $ 139,392 $ 1,252 $ 2,987 $ - $ 143,631 Commercial real estate 180,482 4,220 1,228 - 185,930 Construction and land development 75,501 638 178 - 76,317 Total mortgage loans on real estate 395,375 6,110 4,393 - 405,878 Home equity lines of credit 35,995 14 201 - 36,210 Commercial loans 114,849 2,123 484 - 117,456 Consumer loans 22,842 79 282 - 23,203 Total Loans $ 569,061 $ 8,326 $ 5,360 $ - $ 582,747 As of December 31, 2017 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential $ 132,914 $ 1,390 $ 3,418 $ - $ 137,722 Commercial real estate 175,208 4,238 1,779 - 181,225 Construction and land development 65,656 750 158 - 66,564 Total mortgage loans on real estate 373,778 6,378 5,355 - 385,511 Home equity lines of credit 35,580 14 203 36 35,833 Commercial loans 103,137 2,234 438 - 105,809 Consumer loans 22,865 58 308 - 23,231 Total Loans $ 535,360 $ 8,684 $ 6,304 $ 36 $ 550,384 |
Fair Value Measurements and D19
Fair Value Measurements and Disclosures (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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. There were no transfers between levels during the period. Information related to the Company’s assets and liabilities measured at fair value on a recurring basis at March 31, 2018 and December 31, 2017 is as follows: (amounts in thousands) Fair Value Measurements At Reporting Date Using: March 31, 2018 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 $ 100,261 $ - $ 100,261 $ - U.S. government sponsored enterprises 9,432 - 9,432 - State, county, and municipal 35,673 - 35,673 - Corporate debt obligations 1,314 - 1,314 - Totals $ 146,680 $ - $ 146,680 $ - Fair Value Measurements At Reporting Date Using: December 31, 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 $ 122,972 $ - $ 122,972 $ - U.S. government sponsored enterprises 12,999 - 12,999 - State, county, and municipal 55,501 - 55,501 - Corporate debt obligations $ 1,817 - 1,817 - Totals $ 193,289 $ - $ 193,289 $ - |
Schedule of Fair Value, Assets Measured on Non-Recurring Basis | as of March 31, 2018 and December 31, 2017 (amounts in thousands): Fair Value Measurements At Reporting Date Using: March 31, 2018 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 $ 4,259 $ - $ - $ 4,259 Foreclosed assets 1,677 - - 1,677 Totals $ 5,936 $ - $ - $ 5,936 December 31, 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 $ 4,654 $ - $ - $ 4,654 Foreclosed assets 1,546 - - 1,546 Totals $ 6,200 $ - $ - $ 6,200 |
Summary of Estimated Fair values Related to Carrying or Notional Amounts of River's Financial Instruments | The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments as of March 31, 2018 and December 31, 2017 are as follows (amounts in thousands): Estimated Fair Value March 31, 2018 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 28,981 $ 28,981 $ - $ - Certificates of deposit in banks 2,992 - 2,992 - Securities available-for-sale 146,680 - 146,680 - Loans held-for-sale 3,737 - 3,737 - Restricted equity securities 1,547 - - 1,547 Loans receivable 574,390 - 565,410 4,259 Bank owned life insurance 20,131 - 20,131 - Accrued interest receivable 2,129 - 2,129 - Financial liabilities: Deposits 700,057 - 669,697 - Accrued interest payable 127 - 127 - Securities sold under agreements to repurchase 13,139 - 13,139 - Federal Home Loan Bank advances 10,000 - 10,000 - Note payable 5,089 - 5,089 - Estimated Fair Value December 31, 2017 Carrying Amount Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 15,558 $ 15,558 $ - $ - Certificates of deposit in banks 5,214 - 5,214 - Securities available-for-sale 193,289 - 193,289 - Loans held-for-sale 3,858 - 3,858 - Restricted equity securities 1,259 - - 1,259 Loans receivable 542,240 - 536,701 4,654 Bank owned life insurance 19,991 - 19,991 - Accrued interest receivable 2,499 - 2,499 - Financial liabilities: Deposits 699,861 - 675,871 - Accrued interest payable 121 - 121 - Securities sold under agreements to repurchase 13,865 - 13,865 - Federal Home Loan Bank advances 10,000 - 9,997 - Federal funds purchased 1,153 1,153 Note payable 5,357 - 5,357 - |
Earnings Per Share - Components
Earnings Per Share - Components of the Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share [Abstract] | ||
Net earnings available to common shareholders | $ 2,259 | $ 2,229 |
Weighted average common shares outstanding | 5,111,704 | 5,084,621 |
Dilutive effect of stock options | 90,888 | 57,352 |
Diluted common shares | 5,202,592 | 5,141,973 |
Basic earnings per common share | $ 0.44 | $ 0.44 |
Diluted earnings per common share | $ 0.43 | $ 0.43 |
Investment Securities - Schedul
Investment Securities - Schedule of Securities Available for Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | $ 151,844 | $ 196,114 |
Securities available-for-sale, Gross Unrealized Gains | 83 | 553 |
Securities available-for-sale, Gross Unrealized Losses | (5,247) | (3,378) |
Securities available-for-sale, Fair Value | 146,680 | 193,289 |
Residential Mortgage - Backed | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 104,666 | 125,768 |
Securities available-for-sale, Gross Unrealized Gains | 23 | |
Securities available-for-sale, Gross Unrealized Losses | (4,405) | (2,819) |
Securities available-for-sale, Fair Value | 100,261 | 122,972 |
U.S. Govt. Sponsored Enterprises | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 9,695 | 13,176 |
Securities available-for-sale, Gross Unrealized Gains | 8 | |
Securities available-for-sale, Gross Unrealized Losses | (263) | (185) |
Securities available-for-sale, Fair Value | 9,432 | 12,999 |
State, Country and Municipal | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 36,100 | 55,339 |
Securities available-for-sale, Gross Unrealized Gains | 83 | 511 |
Securities available-for-sale, Gross Unrealized Losses | (510) | (349) |
Securities available-for-sale, Fair Value | 35,673 | 55,501 |
Corporate Debt Obligations | ||
Schedule of Available for Sale Securities [Line Items] | ||
Securities available-for-sale, Amortized Cost | 1,383 | 1,831 |
Securities available-for-sale, Gross Unrealized Gains | 11 | |
Securities available-for-sale, Gross Unrealized Losses | (69) | (25) |
Securities available-for-sale, Fair Value | $ 1,314 | $ 1,817 |
Investment Securities - Sched22
Investment Securities - Schedule of Details Concerning Investment Securities with Unrealized Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 52,850 | $ 67,976 |
Less than 12 Months, Unrealized Losses | 1,175 | 635 |
More Than 12 Months, Fair Value | 86,335 | 93,658 |
More Than 12 Months, Unrealized Losses | 4,072 | 2,743 |
Total, Fair Value | 139,185 | 161,634 |
Total, Unrealized Losses | 5,247 | 3,378 |
Residential Mortgage - Backed | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 30,148 | 43,811 |
Less than 12 Months, Unrealized Losses | 845 | 445 |
More Than 12 Months, Fair Value | 70,113 | 75,046 |
More Than 12 Months, Unrealized Losses | 3,560 | 2,374 |
Total, Fair Value | 100,261 | 118,857 |
Total, Unrealized Losses | 4,405 | 2,819 |
U.S. Govt. Sponsored Enterprises | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 5,813 | 8,630 |
Less than 12 Months, Unrealized Losses | 113 | 60 |
More Than 12 Months, Fair Value | 3,619 | 3,698 |
More Than 12 Months, Unrealized Losses | 150 | 125 |
Total, Fair Value | 9,432 | 12,328 |
Total, Unrealized Losses | 263 | 185 |
State, Country and Municipal | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 15,889 | 14,535 |
Less than 12 Months, Unrealized Losses | 217 | 130 |
More Than 12 Months, Fair Value | 12,288 | 14,559 |
More Than 12 Months, Unrealized Losses | 293 | 219 |
Total, Fair Value | 28,177 | 29,094 |
Total, Unrealized Losses | 510 | 349 |
Corporate Debt Obligations | ||
Schedule of Available for Sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 1,000 | 1,000 |
More Than 12 Months, Fair Value | 315 | 355 |
More Than 12 Months, Unrealized Losses | 69 | 25 |
Total, Fair Value | 1,315 | 1,355 |
Total, Unrealized Losses | $ 69 | $ 25 |
Investment Securities - Additio
Investment Securities - Additional Information (Details) | 3 Months Ended | ||
Mar. 31, 2018USD ($)Security | Mar. 31, 2017USD ($)Security | Dec. 31, 2017USD ($) | |
Investments Debt And Equity Securities [Abstract] | |||
Other-than-temporary impairments charged to earnings | $ 0 | $ 0 | |
Number of securities owned | Security | 149 | ||
Unrealized losses | $ 5,247,000 | $ 3,378,000 | |
Securities pledged to secure public deposits | 29,400,000 | 28,500,000 | |
Securities pledged to secure repurchase agreements | 18,900,000 | $ 20,000,000 | |
Proceeds from sales of investment securities | 35,854,000 | ||
Number of securities sold | Security | 0 | ||
Realized investment gains | $ 2,000 |
Investment Securities - Sched24
Investment Securities - Schedule of Amortized Cost and Estimated Fair value of Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Securities available-for-sale | ||
Securities available-for-sale, Less than 1 year, Amortized Cost | $ 4,710 | |
Securities available-for-sale, 1 to 5 years, Amortized Cost | 15,066 | |
Securities available-for-sale, 5 to 10 years, Amortized Cost | 7,860 | |
Securities available-for-sale, After 10 years, Amortized Cost | 19,542 | |
Securities available-for-sale, before Residential mortgage-backed securities | 47,178 | |
Securities available-for-sale, Residential mortgage-backed securities | 151,844 | $ 196,114 |
Securities available-for-sale | ||
Securities available-for-sale, Less than 1 year, Fair Value | 4,700 | |
Securities available-for-sale, 1 to 5 years, Fair Value | 14,854 | |
Securities available-for-sale, 5 to 10 years, Fair Value | 7,711 | |
Securities available-for-sale, After 10 years, Fair Value | 19,154 | |
Securities available-for-sale, before Residential mortgage-backed securities Fair Value | 46,419 | |
Securities available-for-sale, Fair Value | 146,680 | 193,289 |
Residential Mortgage-Backed Securities | ||
Securities available-for-sale | ||
Securities available-for-sale, Residential mortgage-backed securities | 104,666 | 125,768 |
Securities available-for-sale | ||
Securities available-for-sale, Fair Value | $ 100,261 | $ 122,972 |
Loans, Allowance for Loan Los25
Loans, Allowance for Loan Losses and Credit Quality - Major Classifications of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 582,747 | $ 550,384 | $ 514,983 | |
Allowance for loan losses | (5,387) | (4,881) | (4,060) | $ (4,007) |
Net deferred loan fees and discounts | (2,970) | (3,263) | ||
Net loans | $ 574,390 | $ 542,240 | ||
Total gross loans percentage | 101.40% | 101.50% | ||
Allowance for loan losses percentage | (0.90%) | (0.90%) | ||
Net deferred loan fees and discounts percentage | (0.50%) | (0.60%) | ||
Net loans percentage | 100.00% | 100.00% | ||
Home Equity Lines of Credit | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 36,210 | $ 35,833 | ||
Total gross loans percentage | 6.30% | 6.60% | ||
Residential Real Estate | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 143,631 | $ 137,722 | ||
Total gross loans percentage | 25.00% | 25.40% | ||
Residential Real Estate | Closed-end 1-4 family - first lien | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 121,826 | $ 115,776 | ||
Total gross loans percentage | 21.20% | 21.40% | ||
Residential Real Estate | Closed-end 1-4 family - junior lien | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 4,824 | $ 4,969 | ||
Total gross loans percentage | 0.80% | 0.90% | ||
Residential Real Estate | Multi-family | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 16,981 | $ 16,977 | ||
Total gross loans percentage | 3.00% | 3.10% | ||
Commercial Real Estate | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 185,930 | $ 181,225 | ||
Total gross loans percentage | 32.40% | 33.40% | ||
Commercial Real Estate | Nonfarm nonresidential | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 178,166 | $ 173,443 | ||
Total gross loans percentage | 31.00% | 32.00% | ||
Commercial Real Estate | Farmland | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 7,764 | $ 7,782 | ||
Total gross loans percentage | 1.40% | 1.40% | ||
Construction and Land Development | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 76,317 | $ 66,564 | ||
Total gross loans percentage | 13.30% | 12.30% | ||
Construction and Land Development | Residential | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 34,658 | $ 25,830 | ||
Total gross loans percentage | 6.00% | 4.80% | ||
Construction and Land Development | Other | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 41,659 | $ 40,734 | ||
Total gross loans percentage | 7.30% | 7.50% | ||
Commercial Loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 117,456 | $ 105,809 | 94,508 | |
Allowance for loan losses | $ (1,097) | $ (954) | (902) | (829) |
Total gross loans percentage | 20.40% | 19.50% | ||
Commercial Loans | Other commercial loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 103,487 | $ 95,896 | ||
Total gross loans percentage | 18.00% | 17.70% | ||
Commercial Loans | Agricultural | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 1,283 | $ 1,581 | ||
Total gross loans percentage | 0.20% | 0.30% | ||
Commercial Loans | State, county, and municipal loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 12,686 | $ 8,332 | ||
Total gross loans percentage | 2.20% | 1.50% | ||
Consumer Loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total gross loans | $ 23,203 | $ 23,231 | 22,223 | |
Allowance for loan losses | $ (210) | $ (217) | $ (198) | $ (199) |
Total gross loans percentage | 4.00% | 4.30% |
Loans, Allowance for Loan Los26
Loans, Allowance for Loan Losses and Credit Quality - Additional Information (Details) | 3 Months Ended |
Mar. 31, 2018Segment | |
Receivables [Abstract] | |
Number of primary loan portfolio segments | 3 |
Loans, Allowance for Loan Los27
Loans, Allowance for Loan Losses and Credit Quality - Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Allowance for Loan Losses | |||||
Beginning Balance | $ 4,881 | $ 4,007 | |||
Provision for loan losses | 480 | 360 | |||
Loan charge-offs | (70) | (334) | |||
Loan recoveries | 96 | 27 | |||
Ending Balance | 5,387 | 4,060 | |||
Ending Balance, Individually evaluated for impairment | $ 895 | $ 1,127 | |||
Ending Balance, Collectively evaluated for impairment | 4,492 | 2,933 | |||
Total | 5,387 | 4,007 | 5,387 | $ 4,881 | 4,060 |
Loans, Individually evaluated for impairment | 5,154 | 5,810 | |||
Loans, Collectively evaluated for impairment | 577,593 | 509,173 | |||
Total Loans | 582,747 | 550,384 | 514,983 | ||
Home Equity Lines of Credit | |||||
Allowance for Loan Losses | |||||
Total Loans | 36,210 | 35,833 | |||
Residential | |||||
Allowance for Loan Losses | |||||
Total Loans | 143,631 | 137,722 | |||
Commercial | |||||
Allowance for Loan Losses | |||||
Total Loans | 185,930 | 181,225 | |||
Construction and Land Development | |||||
Allowance for Loan Losses | |||||
Total Loans | 76,317 | 66,564 | |||
Commercial Loans | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 954 | 829 | |||
Provision for loan losses | 117 | 75 | |||
Loan charge-offs | (40) | (24) | |||
Loan recoveries | 66 | 22 | |||
Ending Balance | 1,097 | 902 | |||
Ending Balance, Individually evaluated for impairment | 171 | 432 | |||
Ending Balance, Collectively evaluated for impairment | 926 | 470 | |||
Total | 954 | 829 | 1,097 | 954 | 902 |
Loans, Individually evaluated for impairment | 296 | 650 | |||
Loans, Collectively evaluated for impairment | 117,160 | 93,858 | |||
Total Loans | 117,456 | 105,809 | 94,508 | ||
Consumer Loans | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 217 | 199 | |||
Provision for loan losses | 20 | 86 | |||
Loan charge-offs | (30) | (88) | |||
Loan recoveries | 3 | 1 | |||
Ending Balance | 210 | 198 | |||
Ending Balance, Individually evaluated for impairment | 9 | 15 | |||
Ending Balance, Collectively evaluated for impairment | 201 | 183 | |||
Total | 217 | 199 | 210 | 217 | 198 |
Loans, Individually evaluated for impairment | 85 | 37 | |||
Loans, Collectively evaluated for impairment | 23,118 | 22,186 | |||
Total Loans | 23,203 | 23,231 | 22,223 | ||
Real Estate Mortgage Loans | |||||
Allowance for Loan Losses | |||||
Total Loans | 405,878 | 385,511 | |||
Real Estate Mortgage Loans | Home Equity Lines of Credit | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 333 | 187 | |||
Provision for loan losses | 46 | 163 | |||
Loan charge-offs | (107) | ||||
Loan recoveries | 2 | 1 | |||
Ending Balance | 381 | 244 | |||
Ending Balance, Collectively evaluated for impairment | 381 | 244 | |||
Total | 333 | 187 | 381 | 333 | 244 |
Loans, Individually evaluated for impairment | 100 | ||||
Loans, Collectively evaluated for impairment | 36,110 | 34,888 | |||
Total Loans | 36,210 | 34,888 | |||
Real Estate Mortgage Loans | Residential | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 1,167 | 563 | |||
Provision for loan losses | 65 | 210 | |||
Ending Balance | 1,232 | 773 | |||
Ending Balance, Individually evaluated for impairment | 524 | 296 | |||
Ending Balance, Collectively evaluated for impairment | 708 | 477 | |||
Total | 1,167 | 563 | 1,232 | 1,167 | 773 |
Loans, Individually evaluated for impairment | 2,241 | 2,326 | |||
Loans, Collectively evaluated for impairment | 141,390 | 129,494 | |||
Total Loans | 143,631 | 137,722 | 131,820 | ||
Real Estate Mortgage Loans | Commercial | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 1,604 | 1,506 | |||
Provision for loan losses | 122 | (229) | |||
Loan recoveries | 3 | ||||
Ending Balance | 1,729 | 1,277 | |||
Ending Balance, Individually evaluated for impairment | 176 | 384 | |||
Ending Balance, Collectively evaluated for impairment | 1,553 | 893 | |||
Total | 1,604 | 1,506 | 1,729 | 1,604 | 1,277 |
Loans, Individually evaluated for impairment | 2,266 | 2,797 | |||
Loans, Collectively evaluated for impairment | 183,664 | 167,990 | |||
Total Loans | 185,930 | 181,225 | 170,787 | ||
Real Estate Mortgage Loans | Construction and Land Development | |||||
Allowance for Loan Losses | |||||
Beginning Balance | 606 | 723 | |||
Provision for loan losses | 110 | 55 | |||
Loan charge-offs | (115) | ||||
Loan recoveries | 22 | 3 | |||
Ending Balance | 738 | 666 | |||
Ending Balance, Individually evaluated for impairment | 15 | ||||
Ending Balance, Collectively evaluated for impairment | 723 | 666 | |||
Total | $ 606 | $ 723 | 738 | 606 | 666 |
Loans, Individually evaluated for impairment | 166 | ||||
Loans, Collectively evaluated for impairment | 76,151 | 60,757 | |||
Total Loans | $ 76,317 | $ 66,564 | $ 60,757 |
Loans, Allowance for Loan Los28
Loans, Allowance for Loan Losses and Credit Quality - Summary of Impaired Loans by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | $ 5,539 | $ 5,948 | |
Recorded Investment | 5,154 | 5,562 | $ 5,810 |
Impaired Loans With No Allowance | 1,957 | 2,343 | |
Impaired Loans With Allowance | 3,197 | 3,219 | |
Allowance for Loan Losses | 895 | 908 | |
Home Equity Lines of Credit | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 100 | 100 | |
Recorded Investment | 100 | 100 | |
Impaired Loans With No Allowance | 100 | 100 | |
Commercial Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 296 | 300 | |
Recorded Investment | 296 | 301 | 650 |
Impaired Loans With No Allowance | 125 | 127 | |
Impaired Loans With Allowance | 171 | 174 | |
Allowance for Loan Losses | 171 | 174 | |
Consumer Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 235 | 237 | |
Recorded Investment | 85 | 87 | 37 |
Impaired Loans With No Allowance | 54 | 54 | |
Impaired Loans With Allowance | 31 | 33 | |
Allowance for Loan Losses | 9 | 10 | |
Mortgage Loans on Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 4,908 | 5,311 | |
Recorded Investment | 4,673 | 5,074 | 5,123 |
Impaired Loans With No Allowance | 1,678 | 2,062 | |
Impaired Loans With Allowance | 2,995 | 3,012 | |
Allowance for Loan Losses | 715 | 724 | |
Mortgage Loans on Real Estate | Residential | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 2,241 | 2,611 | |
Recorded Investment | 2,241 | 2,611 | 2,326 |
Impaired Loans With No Allowance | 826 | 1,194 | |
Impaired Loans With Allowance | 1,415 | 1,417 | |
Allowance for Loan Losses | 524 | 526 | |
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 2,438 | 2,468 | |
Recorded Investment | 2,266 | 2,295 | $ 2,797 |
Impaired Loans With No Allowance | 852 | 868 | |
Impaired Loans With Allowance | 1,414 | 1,427 | |
Allowance for Loan Losses | 176 | 187 | |
Mortgage Loans on Real Estate | Construction and Land Development | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 229 | 232 | |
Recorded Investment | 166 | 168 | |
Impaired Loans With Allowance | 166 | 168 | |
Allowance for Loan Losses | 15 | 11 | |
Nonaccruing Impaired Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 2,259 | 2,471 | |
Recorded Investment | 1,937 | 2,149 | |
Impaired Loans With No Allowance | 376 | 732 | |
Impaired Loans With Allowance | 1,561 | 1,417 | |
Allowance for Loan Losses | 670 | 526 | |
Nonaccruing Impaired Loans | Commercial Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 146 | ||
Recorded Investment | 146 | ||
Impaired Loans With Allowance | 146 | ||
Allowance for Loan Losses | 146 | ||
Nonaccruing Impaired Loans | Consumer Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 204 | 204 | |
Recorded Investment | 54 | 54 | |
Impaired Loans With No Allowance | 54 | 54 | |
Nonaccruing Impaired Loans | Mortgage Loans on Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 1,909 | 2,267 | |
Recorded Investment | 1,737 | 2,095 | |
Impaired Loans With No Allowance | 322 | 678 | |
Impaired Loans With Allowance | 1,415 | 1,417 | |
Allowance for Loan Losses | 524 | 526 | |
Nonaccruing Impaired Loans | Mortgage Loans on Real Estate | Residential | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 1,415 | 1,767 | |
Recorded Investment | 1,415 | 1,767 | |
Impaired Loans With No Allowance | 350 | ||
Impaired Loans With Allowance | 1,415 | 1,417 | |
Allowance for Loan Losses | 524 | 526 | |
Nonaccruing Impaired Loans | Mortgage Loans on Real Estate | Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 494 | 500 | |
Recorded Investment | 322 | 328 | |
Impaired Loans With No Allowance | 322 | 328 | |
Accruing Impaired Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 3,280 | 3,477 | |
Recorded Investment | 3,217 | 3,413 | |
Impaired Loans With No Allowance | 1,581 | 1,611 | |
Impaired Loans With Allowance | 1,636 | 1,802 | |
Allowance for Loan Losses | 225 | 382 | |
Accruing Impaired Loans | Home Equity Lines of Credit | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 100 | 100 | |
Recorded Investment | 100 | 100 | |
Impaired Loans With No Allowance | 100 | 100 | |
Accruing Impaired Loans | Commercial Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 150 | 300 | |
Recorded Investment | 150 | 301 | |
Impaired Loans With No Allowance | 125 | 127 | |
Impaired Loans With Allowance | 25 | 174 | |
Allowance for Loan Losses | 25 | 174 | |
Accruing Impaired Loans | Consumer Loans | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 31 | 33 | |
Recorded Investment | 31 | 33 | |
Impaired Loans With Allowance | 31 | 33 | |
Allowance for Loan Losses | 9 | 10 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 2,999 | 3,044 | |
Recorded Investment | 2,936 | 2,979 | |
Impaired Loans With No Allowance | 1,356 | 1,384 | |
Impaired Loans With Allowance | 1,580 | 1,595 | |
Allowance for Loan Losses | 191 | 198 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | Residential | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 826 | 844 | |
Recorded Investment | 826 | 844 | |
Impaired Loans With No Allowance | 826 | 844 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 1,944 | 1,968 | |
Recorded Investment | 1,944 | 1,967 | |
Impaired Loans With No Allowance | 530 | 540 | |
Impaired Loans With Allowance | 1,414 | 1,427 | |
Allowance for Loan Losses | 176 | 187 | |
Accruing Impaired Loans | Mortgage Loans on Real Estate | Construction and Land Development | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 229 | 232 | |
Recorded Investment | 166 | 168 | |
Impaired Loans With Allowance | 166 | 168 | |
Allowance for Loan Losses | $ 15 | $ 11 |
Loans, Allowance for Loan Los29
Loans, Allowance for Loan Losses and Credit Quality - Summary of Average Recorded Investment and Interest Income recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | $ 5,181 | $ 5,943 | |
Impaired loans, Ending recorded investment | 5,154 | 5,810 | $ 5,562 |
Impaired loans, Interest income | 40 | 50 | |
Home Equity Lines of Credit | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 100 | 50 | |
Impaired loans, Ending recorded investment | 100 | 100 | |
Impaired loans, Interest income | 1 | 1 | |
Commercial Loans | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 298 | 577 | |
Impaired loans, Ending recorded investment | 296 | 650 | 301 |
Impaired loans, Interest income | 2 | 6 | |
Consumer Loans | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 86 | 19 | |
Impaired loans, Ending recorded investment | 85 | 37 | 87 |
Mortgage Loans on Real Estate | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 4,697 | 5,297 | |
Impaired loans, Ending recorded investment | 4,673 | 5,123 | 5,074 |
Impaired loans, Interest income | 37 | 43 | |
Mortgage Loans on Real Estate | Residential Real Estate | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 2,249 | 1,720 | |
Impaired loans, Ending recorded investment | 2,241 | 2,326 | 2,611 |
Impaired loans, Interest income | 12 | 18 | |
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 2,281 | 3,562 | |
Impaired loans, Ending recorded investment | 2,266 | 2,797 | 2,295 |
Impaired loans, Interest income | 23 | 25 | |
Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Impaired [Line Items] | |||
Impaired loans, Average recorded investment | 167 | $ 15 | |
Impaired loans, Ending recorded investment | 166 | $ 168 | |
Impaired loans, Interest income | $ 2 |
Loans, Allowance for Loan Los30
Loans, Allowance for Loan Losses and Credit Quality - Summary of Aging of Loans and Non-accrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | $ 577,694 | $ 545,244 | |
Nonaccrual Loans | 2,574 | 2,586 | |
Total Loans | 582,747 | 550,384 | $ 514,983 |
Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 2,404 | 2,133 | |
Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 75 | 421 | |
Home Equity Lines of Credit | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 36,105 | 35,591 | |
Nonaccrual Loans | 79 | 80 | |
Total Loans | 36,210 | 35,833 | |
Home Equity Lines of Credit | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 26 | 152 | |
Home Equity Lines of Credit | Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 10 | ||
Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 185,930 | 181,225 | |
Construction and Land Development | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 76,317 | 66,564 | |
Commercial Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 116,808 | 105,081 | |
Nonaccrual Loans | 171 | ||
Total Loans | 117,456 | 105,809 | 94,508 |
Commercial Loans | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 477 | 728 | |
Consumer Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 22,989 | 22,906 | |
Nonaccrual Loans | 111 | 149 | |
Total Loans | 23,203 | 23,231 | 22,223 |
Consumer Loans | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 79 | 175 | |
Consumer Loans | Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 24 | 1 | |
Residential | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 143,631 | 137,722 | |
Mortgage Loans on Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 401,792 | 381,666 | |
Nonaccrual Loans | 2,213 | 2,357 | |
Total Loans | 405,878 | 385,511 | |
Mortgage Loans on Real Estate | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 1,822 | 1,078 | |
Mortgage Loans on Real Estate | Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 51 | 410 | |
Mortgage Loans on Real Estate | Home Equity Lines of Credit | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Loans | 36,210 | 34,888 | |
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 185,566 | 180,826 | |
Nonaccrual Loans | 322 | 399 | |
Total Loans | 185,930 | 181,225 | 170,787 |
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 | 42 | ||
Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 75,499 | 66,275 | |
Nonaccrual Loans | 26 | 68 | |
Total Loans | 76,317 | 66,564 | 60,757 |
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 | 792 | 221 | |
Mortgage Loans on Real Estate | Residential | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Current | 140,727 | 134,565 | |
Nonaccrual Loans | 1,865 | 1,890 | |
Total Loans | 143,631 | 137,722 | $ 131,820 |
Mortgage Loans on Real Estate | Residential | Past Due 30-89 Days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | 988 | 857 | |
Mortgage Loans on Real Estate | Residential | Past Due 90 Days or More | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Accruing Loans, Past Due | $ 51 | $ 410 |
Loans, Allowance for Loan Los31
Loans, Allowance for Loan Losses and Credit Quality - Summary of Risk Category of Loans by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 582,747 | $ 550,384 | $ 514,983 |
Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 569,061 | 535,360 | |
Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 8,326 | 8,684 | |
Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 5,360 | 6,304 | |
Doubtful | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 36 | ||
Home Equity Lines of Credit | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 36,210 | 35,833 | |
Home Equity Lines of Credit | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 35,995 | 35,580 | |
Home Equity Lines of Credit | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 14 | 14 | |
Home Equity Lines of Credit | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 201 | 203 | |
Home Equity Lines of Credit | Doubtful | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 36 | ||
Residential | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 143,631 | 137,722 | |
Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 185,930 | 181,225 | |
Construction and Land Development | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 76,317 | 66,564 | |
Commercial Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 117,456 | 105,809 | 94,508 |
Commercial Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 114,849 | 103,137 | |
Commercial Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,123 | 2,234 | |
Commercial Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 484 | 438 | |
Consumer Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 23,203 | 23,231 | 22,223 |
Consumer Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 22,842 | 22,865 | |
Consumer Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 79 | 58 | |
Consumer Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 282 | 308 | |
Mortgage Loans on Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 405,878 | 385,511 | |
Mortgage Loans on Real Estate | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 395,375 | 373,778 | |
Mortgage Loans on Real Estate | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 6,110 | 6,378 | |
Mortgage Loans on Real Estate | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 4,393 | 5,355 | |
Mortgage Loans on Real Estate | Home Equity Lines of Credit | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 36,210 | 34,888 | |
Mortgage Loans on Real Estate | Residential | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 143,631 | 137,722 | 131,820 |
Mortgage Loans on Real Estate | Residential | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 139,392 | 132,914 | |
Mortgage Loans on Real Estate | Residential | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,252 | 1,390 | |
Mortgage Loans on Real Estate | Residential | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 2,987 | 3,418 | |
Mortgage Loans on Real Estate | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 185,930 | 181,225 | 170,787 |
Mortgage Loans on Real Estate | Commercial Real Estate | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 180,482 | 175,208 | |
Mortgage Loans on Real Estate | Commercial Real Estate | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 4,220 | 4,238 | |
Mortgage Loans on Real Estate | Commercial Real Estate | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 1,228 | 1,779 | |
Mortgage Loans on Real Estate | Construction and Land Development | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 76,317 | 66,564 | $ 60,757 |
Mortgage Loans on Real Estate | Construction and Land Development | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 75,501 | 65,656 | |
Mortgage Loans on Real Estate | Construction and Land Development | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | 638 | 750 | |
Mortgage Loans on Real Estate | Construction and Land Development | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 178 | $ 158 |
Fair Value Measurement and Disc
Fair Value Measurement and Disclosures - Additional Information (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Recurring Basis | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Fair value transfers between levels transfers amount | $ 0 |
Fair Value Measurement and Di33
Fair Value Measurement and Disclosures - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 146,680 | $ 193,289 |
U.S. Government Sponsored Enterprises | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 9,432 | 12,999 |
State, Country and Municipal | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 35,673 | 55,501 |
Corporate Debt Obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,314 | 1,817 |
Recurring Basis | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 146,680 | 193,289 |
Recurring Basis | Residential Mortgage -Backed | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 100,261 | 122,972 |
Recurring Basis | U.S. Government Sponsored Enterprises | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 9,432 | 12,999 |
Recurring Basis | State, Country and Municipal | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 35,673 | 55,501 |
Recurring Basis | Corporate Debt Obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,314 | 1,817 |
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 | 146,680 | 193,289 |
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 | 100,261 | 122,972 |
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 | 9,432 | 12,999 |
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 | 35,673 | 55,501 |
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 | $ 1,314 | $ 1,817 |
Fair Value Measurement and Di34
Fair Value Measurement and Disclosures - Schedule of Fair Value, Assets Measured on Non-Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 5,936 | $ 6,200 |
Significant Unobservable Inputs (Level 3) | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 5,936 | 6,200 |
Impaired Loans | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 4,259 | 4,654 |
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 | 4,259 | 4,654 |
Foreclosed Assets | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 1,677 | 1,546 |
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 | $ 1,677 | $ 1,546 |
Fair Value Measurement and Di35
Fair Value Measurement and Disclosures - Summary of Estimated Fair Values Related to Carrying or Notional Amounts of River's Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financial assets: | ||
Securities available-for-sale | $ 146,680 | $ 193,289 |
Bank owned life insurance | 20,131 | 19,991 |
Accrued interest receivable | 2,129 | 2,499 |
Financial liabilities: | ||
Securities sold under agreements to repurchase | 13,139 | 13,865 |
Carrying Amount | ||
Financial assets: | ||
Cash and cash equivalents | 28,981 | 15,558 |
Certificates of deposit in banks | 2,992 | 5,214 |
Securities available-for-sale | 146,680 | 193,289 |
Loans held-for-sale | 3,737 | 3,858 |
Restricted equity securities | 1,547 | 1,259 |
Loans receivable | 574,390 | 542,240 |
Bank owned life insurance | 20,131 | 19,991 |
Accrued interest receivable | 2,129 | 2,499 |
Financial liabilities: | ||
Deposits | 700,057 | 699,861 |
Accrued interest payable | 127 | 121 |
Securities sold under agreements to repurchase | 13,139 | 13,865 |
Federal Home Loan Bank advances | 10,000 | 10,000 |
Note payable | 5,089 | 5,357 |
Federal funds purchased | 1,153 | |
Estimate Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Financial assets: | ||
Cash and cash equivalents | 28,981 | 15,558 |
Estimate Fair Value | Significant Other Observable Inputs (Level 2) | ||
Financial assets: | ||
Certificates of deposit in banks | 2,992 | 5,214 |
Securities available-for-sale | 146,680 | 193,289 |
Loans held-for-sale | 3,737 | 3,858 |
Loans receivable | 565,410 | 536,701 |
Bank owned life insurance | 20,131 | 19,991 |
Accrued interest receivable | 2,129 | 2,499 |
Financial liabilities: | ||
Deposits | 669,697 | 675,871 |
Accrued interest payable | 127 | 121 |
Securities sold under agreements to repurchase | 13,139 | 13,865 |
Federal Home Loan Bank advances | 10,000 | 9,997 |
Note payable | 5,089 | 5,357 |
Federal funds purchased | 1,153 | |
Estimate Fair Value | Significant Unobservable Inputs (Level 3) | ||
Financial assets: | ||
Restricted equity securities | 1,547 | 1,259 |
Loans receivable | $ 4,259 | $ 4,654 |
Recently Issued Accounting Pr36
Recently Issued Accounting Pronouncements- Additional information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounting Changes And Error Corrections [Line Items] | |||
Statutory federal tax rate | 34.00% | ||
Tax cuts and jobs act of 2017, reclassification from accumulated other comprehensive loss | $ 333 | ||
Scenario, Plan | |||
Accounting Changes And Error Corrections [Line Items] | |||
Statutory federal tax rate | 21.00% |
Defined Contribution Plan - Add
Defined Contribution Plan - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Defined Contribution Plan Disclosure [Line Items] | |||
Common stock, shares outstanding | 5,124,318 | 5,098,068 | |
Fair Value of Common stock related to 401(k) Employee Stock Ownership Plan | $ 1,320,000 | $ 1,320,000 | |
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 | $ 18,500 | $ 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 | $ 96,000 | $ 95,000 | |
Common stock related to 401(k) Employee Stock Ownership Plan | $ 950,000 | 950,000 | |
Employee Stock Ownership Plan | Defined Benefit Plans Adjustment | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Number of periods available to purchase shares following distribution | 2 | ||
Fair Value of Common stock related to 401(k) Employee Stock Ownership Plan | $ 0 | $ 0 | |
Stock Compensation Plan | Employee Stock Ownership Plan | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Common stock, shares outstanding | 53,715 | 53,715 | |
Defined contribution plan, number of common stock outstanding, shares unallocated | 0 |