Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 11, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Allegiance Bancshares, Inc. | |
Trading Symbol | abtx | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 12,812,985 | |
Amendment Flag | false | |
Entity Central Index Key | 1,642,081 | |
Entity Current Reporting Status | No | |
Entity Voluntary Filers | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
ASSETS | |||
Cash and due from banks | $ 75,196 | $ 57,314 | |
Interest bearing deposits at other financial institutions | 69,394 | 110,226 | |
Total cash and cash equivalents | 144,590 | 167,540 | |
Available for sale securities, at fair value | 154,546 | $ 84,962 | |
Loans held for sale | [1] | 27,004 | |
Loans held for investment | 1,589,412 | $ 1,002,054 | |
Less: allowance for loan losses | (11,204) | (8,246) | |
Loans, net | 1,605,212 | 993,808 | |
Accrued interest receivable | 5,213 | 3,285 | |
Goodwill | 39,389 | 11,144 | |
Premises and equipment, net | 18,838 | 10,969 | |
Federal Home Loan Bank stock | 7,688 | 468 | |
Branch assets held for sale | 1,446 | ||
Bank owned life insurance | 21,040 | ||
Other assets | 8,951 | 6,085 | |
TOTAL ASSETS | 2,012,350 | 1,280,008 | |
Deposits: | |||
Noninterest-bearing | 560,773 | 373,795 | |
Interest-bearing | |||
Demand | 93,808 | 87,806 | |
Money market and savings | 454,797 | 279,595 | |
Certificates and other time | 547,170 | 392,488 | |
Total interest-bearing deposits | 1,095,775 | 759,889 | |
Total deposits | 1,656,548 | 1,133,684 | |
Accrued interest payable | 150 | 43 | |
Short-term borrowings | 115,000 | ||
Subordinated debentures | 9,062 | ||
Other borrowed funds | 28,069 | 10,069 | |
Other liabilities | 7,478 | 4,434 | |
Total liabilities | $ 1,816,307 | $ 1,148,230 | |
COMMITMENTS AND CONTINGENCIES (See Note 12) | |||
STOCKHOLDERS’ EQUITY: | |||
Preferred stock, $1 par value; 1,000,000 shares authorized; there were no shares issued and outstanding of Series A or Series B, each has a $1,000 liquidation value | |||
Common stock, $1 par value; 40,000,000 shares authorized; 9,824,696 shares issued and 9,823,025 shares outstanding at September 30, 2015 and 7,477,309 shares issued and outstanding at December 31, 2014 | $ 9,825 | $ 7,477 | |
Capital surplus | 154,737 | 104,568 | |
Retained earnings | 30,199 | 19,184 | |
Accumulated other comprehensive income | 1,319 | 549 | |
Less: Treasury stock, at cost, 1,671 shares | (37) | ||
Total stockholders’ equity | 196,043 | 131,778 | |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 2,012,350 | 1,280,008 | |
Core Deposits [Member] | |||
ASSETS | |||
Core deposit intangibles, net | $ 5,437 | $ 1,747 | |
[1] | Consists of loans at two former F&M locations acquired on January 1, 2015. On November 3, 2015, the Company entered into an agreement to sell these former F&M branches and their related assets located in Central Texas. As of September 30, 2015, loans held for sale consists of $12.2 million of commercial and industrial loans, $11.6 million of commercial real estate (including multi-family residential) loans, $2.4 million of 1-4 family residential (including home equity) loans and $741 thousand of consumer and other loans. Loans held for sale are carried at lower of aggregate cost or fair value. |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Preferred stock, par value (in Dollars per share) | $ 1 | |
Preferred stock, shares authorized | 1,000,000 | |
Common stock, par value (in Dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares issued | 9,824,696 | 7,477,309 |
Common stock, shares outstanding | 9,823,025 | 7,477,309 |
Treasury stock, shares | 1,671 | |
Series A Preferred Stock [Member] | ||
Preferred stock, shares issued | 0 | |
Preferred stock, shares outstanding | 0 | |
Preferred stock, liquidation value (in Dollars) | $ 1,000 | |
Series B Preferred Stock [Member] | ||
Preferred stock, shares issued | 0 | |
Preferred stock, shares outstanding | 0 | |
Preferred stock, liquidation value (in Dollars) | $ 1,000 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
INTEREST INCOME: | ||||
Loans, including fees | $ 21,627 | $ 13,011 | $ 63,012 | $ 36,709 |
Securities: | ||||
Taxable | 252 | 332 | 694 | 1,053 |
Tax-exempt | 723 | 140 | 1,441 | 348 |
Deposits in other financial institutions | 43 | 70 | 167 | 243 |
Total interest income | 22,645 | 13,553 | 65,314 | 38,353 |
INTEREST EXPENSE: | ||||
Demand, money market and savings deposits | 508 | 307 | 1,446 | 923 |
Certificates and other time deposits | 1,324 | 1,026 | 3,778 | 3,034 |
Short-term borrowings | 47 | 49 | ||
Subordinated debt | 114 | 439 | ||
Other borrowed funds | 245 | 76 | 691 | 151 |
Total interest expense | 2,238 | 1,409 | 6,403 | 4,108 |
NET INTEREST INCOME | 20,407 | 12,144 | 58,911 | 34,245 |
Provision for loan losses | 1,530 | 750 | 3,633 | 1,650 |
Net interest income after provision for loan losses | 18,877 | 11,394 | 55,278 | 32,595 |
NONINTEREST INCOME: | ||||
Nonsufficient funds fees | 179 | 118 | 512 | 335 |
Service charges on deposit accounts | 163 | 125 | 514 | 378 |
Gains (losses) on sales of other real estate | 1 | (5) | 188 | |
Gains on sales of loans | 235 | 235 | ||
Other | 623 | 362 | 1,758 | 1,025 |
Total noninterest income | 1,201 | 605 | 3,014 | 1,926 |
NONINTEREST EXPENSE: | ||||
Salaries and employee benefits | 8,996 | 4,994 | 26,419 | 14,497 |
Net occupancy and equipment | 1,289 | 888 | 3,647 | 2,469 |
Data processing and software amortization | 841 | 397 | 2,294 | 1,230 |
Professional fees | 343 | 973 | 1,220 | 1,502 |
Regulatory assessments and FDIC insurance | 296 | 214 | 990 | 636 |
Core deposit intangibles amortization | 207 | 74 | 622 | 222 |
Depreciation | 414 | 286 | 1,190 | 789 |
Communications | 300 | 154 | 992 | 460 |
Advertising | 188 | 116 | 510 | 394 |
Other | 1,027 | 656 | 3,025 | 1,822 |
Total noninterest expense | 13,901 | 8,752 | 40,909 | 24,021 |
INCOME BEFORE INCOME TAXES | 6,177 | 3,247 | 17,383 | 10,500 |
Provision for income taxes | 1,957 | 1,226 | 5,809 | 3,795 |
NET INCOME | 4,220 | 2,021 | 11,574 | 6,705 |
Preferred stock dividends | 173 | 559 | ||
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS | $ 4,047 | $ 2,021 | $ 11,015 | $ 6,705 |
EARNINGS PER COMMON SHARE: | ||||
Basic (in Dollars per share) | $ 0.41 | $ 0.29 | $ 1.12 | $ 0.96 |
Diluted (in Dollars per share) | $ 0.40 | $ 0.28 | $ 1.10 | $ 0.94 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net income | $ 4,220 | $ 2,021 | $ 11,574 | $ 6,705 |
Unrealized gain on securities: | ||||
Change in unrealized holding gain on available for sale securities during the period | 2,162 | 154 | 1,197 | 1,667 |
Total other comprehensive income | 2,162 | 154 | 1,197 | 1,667 |
Deferred tax expense related to other comprehensive income | (756) | (117) | (427) | (567) |
Other comprehensive income, net of tax | 1,406 | 37 | 770 | 1,100 |
Comprehensive income | $ 5,626 | $ 2,058 | $ 12,344 | $ 7,805 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Beginning balance, value at Dec. 31, 2013 | $ 6,965,000 | $ 93,459,000 | $ 10,179,000 | $ (669,000) | $ (198,000) | $ 109,736,000 | |
Beginning balance, shares (in Shares) at Dec. 31, 2013 | 6,964,551 | ||||||
Net income | 6,705,000 | 6,705,000 | |||||
Other comprehensive income (loss) | 1,100,000 | 1,100,000 | |||||
Common stock issued in connection with the exercise of stock options and restricted stock awards, value | $ 16,000 | 117,000 | 198,000 | 331,000 | |||
Common stock issued in connection with the exercise of stock options and restricted stock awards, shares (in Shares) | 16,335 | ||||||
Stock based compensation expense | 517,000 | 517,000 | |||||
Ending balance, value at Sep. 30, 2014 | $ 6,981,000 | 94,093,000 | 16,884,000 | 431,000 | 118,389,000 | ||
Ending balance, shares (in Shares) at Sep. 30, 2014 | 6,980,886 | ||||||
Beginning balance, value at Dec. 31, 2014 | $ 7,477,000 | 104,568,000 | 19,184,000 | 549,000 | 131,778,000 | ||
Beginning balance, shares (in Shares) at Dec. 31, 2014 | 7,477,309 | ||||||
Net income | 11,574,000 | 11,574,000 | |||||
Other comprehensive income (loss) | 770,000 | 770,000 | |||||
Common stock issued in connection with the exercise of stock options and restricted stock awards, value | $ 4,000 | 7,000 | 11,000 | ||||
Common stock issued in connection with the exercise of stock options and restricted stock awards, shares (in Shares) | 3,983 | ||||||
Repurchase of treasury stock | (51,000) | (51,000) | |||||
Issuance of common stock in private placement offering | $ 5,000 | 103,000 | 14,000 | 122,000 | |||
Issuance of common stock in private placement offering (in Shares) | 4,884 | ||||||
Common stock issued in connection with the acquisition of F&M Bancshares, Inc. | $ 2,339,000 | 49,108,000 | 51,447,000 | ||||
Common stock issued in connection with the acquisition of F&M Bancshares, Inc. (in Shares) | 2,338,520 | ||||||
Preferred stock issued in connection with the acquisition of F&M Bancshares, Inc. | $ 11,550,000 | $ 11,550,000 | |||||
Preferred stock issued in connection with the acquisition of F&M Bancshares, Inc. (in Shares) | 11,550 | ||||||
Redemption of preferred stock (in Shares) | (11,550,000) | (11,550,000) | |||||
Redemption of preferred stock | $ (11,550) | ||||||
Preferred stock dividends | (559,000) | $ (559,000) | |||||
Stock based compensation expense | 951,000 | 951,000 | |||||
Ending balance, value at Sep. 30, 2015 | $ 9,825,000 | $ 154,737,000 | $ 30,199,000 | $ 1,319,000 | $ (37,000) | $ 196,043,000 | |
Ending balance, shares (in Shares) at Sep. 30, 2015 | 9,824,696 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 11,574,000 | $ 6,705,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and core deposit intangibles amortization | 1,812,000 | 1,011,000 |
Provision for loan losses | 3,633,000 | 1,650,000 |
Net amortization of premium on investments | 815,000 | 169,000 |
Net (accretion) amortization of (discount) premium on loans | (2,968,000) | 70,000 |
Net amortization of premium on subordinated debentures | 191,000 | |
Net loss (gain) on sale or write down of premises, equipment and other real estate | 5,000 | (135,000) |
Net gain on sales of loans | (235,000) | |
Stock based compensation expense | 951,000 | 517,000 |
(Increase) decrease in accrued interest receivable and other assets | (8,503,000) | 2,072,000 |
Increase (decrease) in accrued interest payable and other liabilities | 832,000 | (499,000) |
Net cash provided by operating activities | 8,107,000 | 11,560,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities and principal paydowns of available for sale securities | 1,213,992,000 | 1,214,346,000 |
Proceeds from sales of available for sale securities | 14,748,000 | 0 |
Purchase of available for sale securities | (1,283,220,000) | (1,214,755,000) |
Net increase in total loans | (207,197,000) | (128,864,000) |
Purchase of bank premises and equipment | (1,891,000) | (1,889,000) |
Proceeds from sale of bank premises, equipment and other real estate | 520,000 | |
Purchase of bank owned life insurance | (10,000,000) | |
Net cash and cash equivalents acquired in the purchase of F&M Bancshares, Inc. | 106,486,000 | |
Net cash used in investing activities | (167,082,000) | (130,642,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in noninterest-bearing deposits | 1,449,000 | 40,194,000 |
Net increase in interest-bearing deposits | 31,603,000 | 20,218,000 |
Paydowns of long-term borrowings | (18,000,000) | |
Proceeds from long-term borrowings | 18,000,000 | 5,000,000 |
Proceeds from short-term borrowings | 115,000,000 | |
Preferred stock dividends | (559,000) | |
Redemption of preferred stock | (11,550,000) | |
Proceeds from the issuance of common stock, stock option exercises, restricted stock awards and the ESPP | 133,000 | 331,000 |
Repurchase of treasury stock | (51,000) | |
Net cash provided by financing activities | 136,025,000 | 65,743,000 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (22,950,000) | (53,339,000) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 167,540,000 | 213,076,000 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 144,590,000 | 159,737,000 |
NONCASH ACTIVITIES: | ||
Acquired koans transferred to loans held for sale | 33,409,000 | |
Acquired premises and equipment and accrued interest receivable transferred to branch assets held for sale | 1,662,000 | |
SUPPLEMENTAL INFORMATION: | ||
Income taxes paid | 5,600,000 | 3,400,000 |
Interest paid | $ 5,675,000 | $ 3,623,000 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting and Reporting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Nature of Operations- Basis of Presentation- In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis, and all such adjustments are of a normal recurring nature. Transactions with the subsidiary have been eliminated. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in the Company’s prospectus filed with the Securities and Exchange Commission on October 8, 2015 pursuant to Rule 424(b)(4) for the fiscal year ended December 31, 2014. Operating results for the nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. Furthermore, the acquisition of F&M Bancshares, Inc. during the first quarter of 2015 may impact the comparability of year to date 2015 versus year to date 2014 comparable information. Significant Accounting and Reporting Policies: The Company’s significant accounting and reporting policies can be found in Note 1 of the Company’s annual financial statements included the Company’s prospectus filed with the Securities and Exchange Commission on October 8, 2015 pursuant to Rule 424(b)(4). The following accounting and reporting policies were adopted during the first quarter of 2015 as part of the F&M Bancshares, Inc. transaction: Bank Owned Life Insurance Loans held for Sale New Accounting Standards Adoption of New Accounting Standards On January 1, 2015, the Company adopted Accounting Standards Update (ASU) 2014-04 “Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40) — Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure.” Newly Issued But Not Yet Effective Accounting Standards ASU 2015-16, “Business Combinations (Topic 805) – Simplifying the Accounting for Measurement-Period Adjustments.” ASU 2014-09 “Revenue from Contract with Customers (Topic 606).” |
Note 2 - Acquisitions
Note 2 - Acquisitions | 9 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | 2. ACQUISITIONS Acquisition of F&M Bancshares Pursuant to the merger agreement, the Company issued 2,338,520 shares of Company common stock for all outstanding shares of F&M capital stock and paid $642 thousand in cash for any fractional and out of state shares held by F&M shareholders. The Company recognized initial goodwill of $28.2 million which is calculated as the excess of both the consideration exchanged and liabilities assumed as compared to the fair value of identifiable assets acquired, none of which is expected to be deductible for tax purposes. F&M’s results of operations were included in the Company’s results beginning January 1, 2015. For the nine months ended September 30, 2015, net interest income associated with F&M was $13.1 million. The Company does not track separately the noninterest income and noninterest expense of the F&M branches. The period during which the initial fair value adjustments may be revised is generally referred to as the measurement period. During the measurement period, the Company also shall recognize additional assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in the recognition of those assets and liabilities as of that date. The measurement period ends as soon as the Company receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable. However, the measurement period shall not exceed one year from the acquisition date. As of September 30, 2015, the Company finalized its valuation of all assets and liabilities acquired, resulting in no changes to purchase accounting adjustments. A summary of the final purchase price allocation is as follows (dollars in thousands): Fair value of consideration paid: Common shares issued (2,338,520 shares) $ 51,447 Preferred shares issued (11,550 shares) 11,550 Cash consideration 642 Total consideration paid $ 63,639 Fair value of assets acquired: Cash and cash equivalents $ 107,128 Investment Securities 14,722 Loans, net 404,637 Premises and equipment 7,699 Core deposit intangibles 4,313 Other assets 15,896 Total assets acquired $ 554,395 Fair value of liabilities assumed: Deposits $ 489,556 Subordinated debt 8,871 Other borrowed funds 18,000 Other liabilities 2,574 Total liabilities assumed 519,001 Fair value of net assets acquired $ 35,394 Goodwill resulting from acquisition $ 28,245 Subsequent to the acquisition, the Company paid off the $18.0 million of borrowed funds from F&M shareholders by drawing on its borrowing with another financial institution. Additionally, the securities acquired from F&M were sold subsequent to the acquisition with no income statement impact. Additionally, on July 15, 2015, the Company redeemed all of the outstanding shares of Series A and Series B preferred stock for an aggregate redemption price of $11.7 million (which is the sum of the liquidation amount plus accrued and unpaid dividends up to, but excluding the redemption date). The Company issued the shares of Series A and Series B preferred stock in connection with the F&M acquisition, which had preferred stock pursuant to the U.S. Treasury’s Troubled Asset Relief Program. The fair value of net assets acquired includes fair value adjustments to certain acquired loans that were not considered impaired as of the acquisition date. The fair value adjustments were determined using discounted contractual cash flows. The following presents details of all loans acquired as of January 1, 2015: Contractual Balance Fair Value Discount Commercial and industrial $ 96,891 $ 95,256 $ (1,635 ) Real estate: Commercial real estate (including multi-family residential) 225,191 222,082 (3,109 ) Commercial real estate construction and land development 40,787 40,094 (693 ) 1-4 family residential (including home equity) 35,897 35,488 (409 ) Residential construction 6,467 6,395 (72 ) Consumer and other 5,421 5,322 (99 ) Total loans $ 410,654 $ 404,637 $ (6,017 ) The following table presents pro forma information as if the acquisition had occurred at the beginning of 2014. The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effected on the assumed dates. For the Three Months Ending September 30, For the Nine Months Ending September 30, 2015 2014 2015 2014 Net interest income $ 20,030 $ 18,039 $ 58,879 $ 52,929 Net income attributable to common stockholders 3,606 3,204 8,710 11,388 Basic earnings per common share 0.37 0.34 0.89 1.22 Diluted earnings per common share 0.36 0.34 0.87 1.20 To determine pro forma information, the Company adjusted its three and nine months ended September 30, 2015 and three and nine months ended September 30, 2014 historical results to exclude the historical results for F&M for the three and nine months ended September 30, 2015 and 2014. The pro forma information includes adjustments for acquisition accounting to interest on loans, certificates of deposit and subordinated debt, amortization of intangibles arising from the transaction and the related income tax effects. The Company incurred approximately $941 thousand of pre-tax merger related expenses during the nine months ended September 30, 2015. The merger expenses are reflected on the Company’s income statement for the applicable period and are reported primarily in the categories of salaries and benefits and professional fees but are excluded from the calculation of pro forma income above. The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effected on the assumed dates. As of September 30, 2015, the Company held the two Central Texas locations and their related assets for sale. The assets held for sale of these locations include loans, the related accrued interest receivable on those loans and premises and equipment. The loans are presented as loans held for sale on the balance sheet. The branch assets held for sale reported on the balance sheet include accrued interest receivable and premises and equipment for these two respective locations. See Note 15 – Subsequent Events regarding the definitive purchase and assumption agreement entered into on November 3, 2015 for the sale of the two Central Texas banking locations. |
Note 3 - Goodwill and Core Depo
Note 3 - Goodwill and Core Deposit Intangibles | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | 3. GOODWILL AND CORE DEPOSIT INTANGIBLES Changes in the carrying amount of the Company’s goodwill and core deposit intangibles were as follows: Goodwill Core Deposit (Dollars in thousands) Balance as of January 1, 2014 $ 10,999 $ 2,045 Measurement period adjustment 145 - Amortization - (298 ) Balance as of December 31, 2014 11,144 1,747 Acquisition of F&M Bancshares, Inc. 28,245 4,312 Amortization - (622 ) Balance as of September 30, 2015 $ 39,389 $ 5,437 Goodwill is recorded on the acquisition date of an entity. During the measurement period, the Company may record subsequent adjustments to goodwill for provisional amounts recorded at the acquisition date. |
Note 4 - Securities
Note 4 - Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. SECURITIES The amortized cost and fair value of investment securities were as follows: September 30, 2015 Amortized Gross Gross Fair (Dollars in thousands) Available for Sale U.S. Government and agency securities $ 8,658 $ 466 $ - $ 9,124 Municipal securities 110,810 1,455 (203 ) 112,062 Agency mortgage-backed pass-through securities 30,779 530 (182 ) 31,127 Agency collateralized mortgage obligations 2,270 23 (60 ) 2,233 Total $ 152,517 $ 2,474 $ (445 ) $ 154,546 December 31, 2014 Amortized Gross Gross Fair (Dollars in thousands) Available for Sale U.S. Government and agency securities $ 14,080 $ 442 $ (45 ) $ 14,477 Municipal securities 35,272 283 (74 ) 35,481 Agency mortgage-backed pass-through securities 32,191 472 (188 ) 32,475 Agency collateralized mortgage obligations 2,587 21 (79 ) 2,529 Total $ 84,130 $ 1,218 $ (386 ) $ 84,962 Securities with unrealized losses segregated by length of time such securities have been in a continuous loss position are as follows: September 30, 2015 Less than 12 Months More than 12 Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (Dollars in thousands) Available for Sale U.S. Government and agency securities $ - $ - $ - $ - $ - $ - Municipal securities 24,953 (202 ) 115 (1 ) 25,068 (203 ) Agency mortgage-backed pass-through securities 5,980 (38 ) 6,530 (144 ) 12,510 (182 ) Agency collateralized mortgage obligations 724 (8 ) 733 (52 ) 1,457 (60 ) Total $ 31,657 $ (248 ) $ 7,378 $ (197 ) $ 39,035 $ (445 ) December 31, 2014 Less than 12 Months More than 12 Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (Dollars in thousands) Available for Sale U.S. Government and agency securities $ 2,842 $ (3 ) $ 1,748 $ (42 ) $ 4,590 $ (45 ) Municipal securities 14,102 (74 ) - - 14,102 (74 ) Agency mortgage-backed pass-through securities 498 (1 ) 14,058 (187 ) 14,556 (188 ) Agency collateralized mortgage obligations - - 1,607 (79 ) 1,607 (79 ) Total $ 17,442 $ (78 ) $ 17,413 $ (308 ) $ 34,855 $ (386 ) As of September 30, 2015, management does not expect to sell any debt securities classified as available for sale with material unrealized losses; and the Company believes that it more likely than not will not be required to sell any of these debt securities before their anticipated recovery at which time the Company will receive full value for the securities. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality. Accordingly, as of September 30, 2015, management believes the unrealized losses in the previous table are temporary and no other than temporary impairment loss has been realized in the Company’s consolidated statements of income. The amortized cost and fair value of investment securities at September 30, 2015, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations at any time with or without call or prepayment penalties. Amortized Fair (Dollars in thousands) Due in one year or less $ 8,026 $ 8,048 Due after one year through five years 15,706 15,884 Due after five years through ten years 27,278 27,837 Due after ten years 68,458 69,417 Subtotal 119,468 121,186 Agency mortgage-backed pass through securities and agency collateralized mortgage obligations 33,049 33,360 Total $ 152,517 $ 154,546 During the first quarter of 2015, the Company sold all securities acquired in the F&M transaction resulting in gross proceeds of approximately $15.0 million. No gains or losses were recognized. No securities were sold during the nine months ended September 30, 2014. |
Note 5 - Loans and Allowance fo
Note 5 - Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. LOANS AND ALLOWANCE FOR LOAN LOSSES The loan portfolio balances, net of unearned income and fees, consist of various types of loans primarily all made to borrowers located within Texas and are classified by major type as follows: September 30, 2015 December 31, 2014 (Dollars in thousands) Loans held for sale (1) $ 27,004 $ - Commercial and industrial 367,341 242,034 Mortgage warehouse (2) 65,928 28,329 Real estate: Commercial real estate (including multi-family residential) 710,857 429,986 Commercial real estate construction and land development 151,369 85,484 1-4 family residential (including home equity) 185,473 135,127 Residential construction 95,212 72,402 Consumer and other 13,232 8,692 Total loans held for investment 1,589,412 1,002,054 Total loans 1,616,416 1,002,054 Allowance for loan losses (11,204 ) (8,246 ) Loans, net $ 1,605,212 $ 993,808 (1) Consists of loans at two former F&M locations acquired on January 1, 2015. On November 3, 2015, the Company entered into an agreement to sell these former F&M branches and their related assets located in Central Texas. As of September 30, 2015, loans held for sale consists of $12.2 million of commercial and industrial loans, $11.6 million of commercial real estate (including multi-family residential) loans, $2.4 million of 1-4 family residential (including home equity) loans and $741 thousand of consumer and other loans. Loans held for sale are carried at lower of aggregate cost or fair value. (2) Mortgage warehouse was previously reported within the Commercial and Industrial loan portfolio. These loans are to unaffiliated mortgage loan originators collateralized by mortgage promissory notes which are segregated in the Company’s mortgage warehouse portfolio. These promissory notes are further secured by real estate in a manner consistent with traditional mortgage warehouse lending whereby the promissory notes are warehoused under a revolving credit facility to allow for the end investor (or purchaser) of the note to receive a complete loan package and remit funds to the bank. For mortgage promissory notes secured by residential property, the warehouse time is normally 10 to 20 days. For mortgage promissory notes secured by commercial property, the warehouse time is normally 40 to 50 days. The funded balance of the mortgage warehouse portfolio can have significant fluctuation based upon market demand for the product, level of home sales and refinancing activity, market interest rates, and velocity of end investor processing times. Nonaccrual and Past Due Loans An aging analysis of the recorded investment in past due loans, segregated by class of loans, is as follows: September 30, 2015 Loans Past Due and Still Accruing 30-89 90 or More Total Past Nonaccrual Current Total (Dollars in thousands) Loans held for sale $ 157 $ - $ 157 $ 498 $ 26,349 $ 27,004 Commercial and industrial 349 - 349 3,476 363,516 367,341 Mortgage warehouse - - - - 65,928 65,928 Real estate: Commercial real estate (including multi-family residential) 393 - 393 1,783 708,681 710,857 Commercial real estate construction and land development 129 - 129 - 151,240 151,369 1-4 family residential (including home equity) 188 - 188 341 184,944 185,473 Residential construction 4 - 4 - 95,208 95,212 Consumer and other 112 - 112 87 13,033 13,232 Total loans held for investment 1,175 - 1,175 5,687 1,582,550 1,589,412 Total loans $ 1,332 $ - $ 1,332 $ 6,185 $ 1,608,899 $ 1,616,416 December 31, 2014 Loans Past Due and Still Accruing 30-89 Days 90 or More Total Past Nonaccrual Current Total (Dollars in thousands) Commercial and industrial $ 274 $ - $ 274 $ 1,527 $ 240,233 $ 242,034 Mortgage warehouse - - - - 28,329 28,329 Real estate: Commercial real estate (including multi-family residential) - - - 1,653 428,333 429,986 Commercial real estate construction and land development - - - - 85,484 85,484 1-4 family residential (including home equity) - - - 135,127 135,127 Residential construction 413 - 413 - 71,989 72,402 Consumer and other 46 - 46 4 8,642 8,692 Total loans $ 733 $ - $ 733 $ 3,184 $ 998,137 $ 1,002,054 (3) Includes $240 thousand of loans acquired from F&M. (4) Includes $1.2 million of loans acquired from F&M. Impaired Loans Impaired loans by class of loans are set forth in the following tables. The average recorded investment presented in the table below is reported on a year-to-date basis. September 30, 2015 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 1,950 $ 2,272 $ - $ 2,315 $ 102 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 972 972 - 1,029 66 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) 379 379 - 382 12 Residential construction - - - - - Consumer and other 101 101 - 110 6 Total 3,402 3,724 - 3,836 186 With an allowance recorded: Commercial and industrial 1,907 1,907 604 1,970 53 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 864 864 90 838 20 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) - - - - - Residential construction - - - - - Consumer and other 20 20 6 22 1 Total 2,791 2,791 700 2,830 74 Total: Commercial and industrial 3,857 4,179 604 4,285 155 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 1,836 1,836 90 1,867 86 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) 379 379 - 382 12 Residential construction - - - - - Consumer and other 121 121 6 132 7 $ 6,193 $ 6,515 $ 700 $ 6,666 $ 260 December 31, 2014 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 999 $ 1,054 $ - $ 1,292 $ 83 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 2,894 2,894 - 1,641 182 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) - - - 2 - Residential construction - - - - - Consumer and other - - - 1,084 - Total 3,893 3,948 - 4,019 265 With an allowance recorded: Commercial and industrial 1,802 1,802 501 2,247 128 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 180 180 10 715 12 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) - - - 40 - Residential construction - - - - - Consumer and other 4 4 1 2,102 - Total 1,986 1,986 512 5,104 140 Total: Commercial and industrial 2,801 2,856 501 3,539 211 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 3,074 3,074 10 2,356 194 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) - - - 42 - Residential construction - - - - - Consumer and other 4 4 1 3,186 - $ 5,879 $ 5,934 $ 512 $ 9,123 $ 405 Credit Quality Indicators The company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt including factors such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends. The Company analyzes loans individually by classifying the loans by credit risk. As part of the ongoing monitoring of the credit quality of the Company’s loan portfolio and methodology for calculating the allowance for credit losses, management assigns and tracks risk ratings to be used as credit quality indicators. The following is a general description of the risk ratings used: Watch Special Mention Substandard Doubtful Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loan at September 30, 2015 is as follows: Pass Watch Special Mention Substandard Doubtful Total (Dollars in thousands) Loans held for sale $ 25,806 $ 25 $ 26 $ 1,147 $ - $ 27,004 Commercial and industrial 355,053 5,173 1,810 5,305 - 367,341 Mortgage warehouse 65,928 - - - - 65,928 Commercial real estate (including multi-family residential) 690,617 7,960 819 11,461 - 710,857 Commercial real estate construction and land development 149,167 2,202 - - - 151,369 1-4 family residential (including home equity) 181,053 1,824 237 2,359 - 185,473 Residential construction 95,212 - - - - 95,212 Consumer and other 13,052 74 - 106 - 13,232 Total loans held for investment 1,550,082 17,233 2,866 19,231 - 1,589,412 Total loans $ 1,575,888 $ 17,258 $ 2,892 $ 20,378 $ - $ 1,616,416 The following table presents the risk category of loans by class of loan at December 31, 2014: Pass Watch Special Mention Substandard Doubtful Total (Dollars in thousands) Commercial and industrial $ 235,006 $ 1,817 $ 291 $ 4,920 $ - $ 242,034 Mortgage warehouse 28,329 - - - - 28,329 Commercial real estate (including multi-family residential) 408,117 9,365 - 12,504 - 429,986 Commercial real estate construction and land development 82,643 2,841 - - - 85,484 1-4 family residential (including home equity) 132,979 1,677 83 388 - 135,127 Residential construction 71,025 - 1,200 177 - 72,402 Consumer and other 8,636 35 - 21 - 8,692 Total loans held for investment $ 966,735 $ 15,735 $ 1,574 $ 18,010 $ - $ 1,002,054 Allowance for Loan Losses The following table presents the activity in the allowance for loan losses by portfolio type for the three and nine months ended September 30, 2015 and 2014: Commercial and Industrial Mortgage Warehouse Commercial real estate (including multi-family residential) Commercial real estate construction and land development 1-4 family residential (including home equity) Residential Construction Consumer and Other Total (Dollars in thousands) Allowance for loan losses: Three Months Ended Balance June 30, 2015 $ 2,905 $ - $ 4,533 $ 842 $ 1,255 $ 710 $ 67 $ 10,312 Provision for loan losses 820 - 434 173 68 25 10 1,530 Charge-offs (641 ) - - - - - (8 ) (649 ) Recoveries 7 - - - - 2 2 11 Net charge-offs (634 ) - - - - 2 (6 ) (638 ) Balance September 30, 2015 $ 3,091 $ - $ 4,967 $ 1,015 $ 1,323 $ 737 $ 71 $ 11,204 Nine Months Ended Balance January 1, 2015 $ 2,334 $ - $ 3,799 $ 578 $ 1,008 $ 475 $ 52 $ 8,246 Provision for loan losses 1,434 - 1,168 437 315 238 41 3,633 Charge-offs (723 ) - - - - - (26 ) (749 ) Recoveries 46 - - - - 24 4 74 Net charge-offs (677 ) - - - - 24 (22 ) (675 ) Balance September 30, 2015 $ 3,091 $ - $ 4,967 $ 1,015 $ 1,323 $ 737 $ 71 $ 11,204 Commercial and Industrial Mortgage Commercial real estate (including multi-family residential) Commercial real estate construction and land development 1-4 family residential (including home equity) Residential Consumer Total (Dollars in thousands) Allowance for loan losses: Three Months Ended Balance June 30, 2014 $ 2,083 $ - $ 3,396 $ 615 $ 875 $ 441 $ 52 $ 7,462 Provision for loan losses 722 - 97 (116 ) 83 (43 ) 7 750 Charge-offs (481 ) - - - - - - (481 ) Recoveries 9 - - - - - - 9 Net charge-offs (472 ) - - - - - - (472 ) Balance September 30, 2014 $ 2,333 $ - $ 3,493 $ 499 $ 958 $ 398 $ 59 $ 7,740 Nine Months Ended Balance January 1, 2014 $ 2,729 $ - $ 2,175 $ 357 $ 558 $ 598 $ 238 $ 6,655 Provision for loan losses 130 - 1,318 142 400 (200 ) (140 ) 1,650 Charge-offs (555 ) - - - - - (40 ) (595 ) Recoveries 29 - - - - - 1 30 Net charge-offs (526 ) - - - - (39 ) (565 ) Balance September 30, 2014 $ 2,333 $ - $ 3,493 $ 499 $ 958 $ 398 $ 59 $ 7,740 The following table presents the balance in the allowance for loan losses by portfolio type based on the impairment method as of September 30, 2015 and December 31, 2014: Commercial and Industrial Mortgage Commercial real estate (including multi-family residential) Commercial real estate construction and land development 1-4 family residential (including home equity) Residential Consumer Total (Dollars in thousands) Allowance for loan losses related to: September 30, 2015 Individually evaluated for impairment $ 604 $ - $ 90 $ - $ - $ - $ 6 $ 700 Collectively evaluated for impairment 2,487 - 4,877 1,015 1,323 737 65 10,504 Total allowance for loan losses $ 3,091 $ - $ 4,967 $ 1,015 $ 1,323 $ 737 $ 71 $ 11,204 December 31, 2014 Individually evaluated for impairment $ 501 $ - $ 10 $ - $ - $ - $ 1 $ 512 Collectively evaluated for impairment 1,833 - 3,789 578 1,008 475 51 7,734 Total allowance for loan losses $ 2,334 $ - $ 3,799 $ 578 $ 1,008 $ 475 $ 52 $ 8,246 The following table presents the recorded investment in loans held for investment by portfolio type based on the impairment method as of September 30, 2015 and December 31, 2014: Commercial and Industrial Mortgage Commercial real estate (including multi-family residential) Commercial real estate construction and land development 1-4 family residential (including home equity) Residential Consumer Total (Dollars in thousands) Recorded investment in loans: September 30, 2015 Individually evaluated for impairment $ 3,857 $ - $ 1,836 $ - $ 379 $ - $ 121 $ 6,193 Collectively evaluated for impairment 363,484 65,928 709,021 151,369 185,094 95,212 13,111 1,583,219 Total loans evaluated for impairment $ 367,341 $ 65,928 $ 710,857 $ 151,369 $ 185,473 $ 95,212 $ 13,232 $ 1,589,412 December 31, 2014 Individually evaluated for impairment $ 2,801 $ - $ 3,074 $ - $ - $ - $ 4 $ 5,879 Collectively evaluated for impairment 239,233 28,329 426,912 85,484 135,127 72,402 8,688 996,175 Total loans evaluated for impairment $ 242,034 $ 28,329 $ 429,986 $ 85,484 $ 135,127 $ 72,402 $ 8,692 $ 1,002,054 Troubled Debt Restructurings As of September 30, 2015 and December 31, 2014, the Company had a recorded investment in troubled debt restructurings of $3.7 million and $1.7 million, respectively. The Company added $2.8 million in troubled debt restructurings during the nine months ended September 30, 2015. The Company allocated $591 thousand and $205 thousand of specific reserves for troubled debt restructurings at September 30, 2015 and December 31, 2014, respectively, and did not commit to lend additional amounts on these loans. As of September 30, 2015, there have been no defaults on any loans that were modified as troubled debt restructurings during the preceding 12 months. Default is determined at 90 or more days past due. |
Note 6 - Fair Value
Note 6 - Fair Value | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | 6. FAIR VALUE The Company uses fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Fair value represents the exchange price that would be received from selling an asset or paid to transfer a liability, otherwise known as an “exit price” in the principal or most advantageous market available to the entity in an orderly transaction between market participants on the measurement date. Fair Value Hierarchy The Company groups financial assets and financial liabilities measured 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—Quoted prices for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. • Level 2—Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3—Significant unobservable inputs that reflect management’s judgment and assumptions that market participants would use in pricing an asset or liability that are supported by little or no market activity. Financial instruments are considered Level 3 when their values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. Level 3 financial instruments also include those for which the determination of fair value requires significant management judgment or estimation. The following method to determine fair value of loans held for sale was adopted during the first quarter of 2015 as part of the F&M transaction: Loans Held For Sale- The carrying amounts and estimated fair values of financial instruments that are reported on the balance sheet are as follows: As of September 30, 2015 Carrying Estimated Fair Value Amount Level 1 Level 2 Level 3 Total Financial assets (Dollars in thousands) Cash and cash equivalents $ 144,590 $ 144,590 $ - $ - $ 144,590 Available for sale securities 154,546 - 154,546 - 154,546 Loans held for sale 27,004 - - 27,004 27,004 Loans held for investment, net of allowance 1,578,208 - - 1,584,059 1,584,059 Accrued interest receivable 5,213 - 968 4,245 5,213 Financial liabilities Total deposits $ 1,656,548 $ - $ - $ 1,658,643 $ 1,658,643 Accrued interest payable 150 - 65 85 150 Short-term borrowings 115,000 - 115,000 - 115,000 Subordinated debentures 9,062 - 9,062 - 9,062 Other borrowed funds 28,069 - 28,069 - 28,069 As of December 31, 2014 Carrying Estimated Fair Value Amount Level 1 Level 2 Level 3 Total Financial assets (Dollars in thousands) Cash and cash equivalents $ 167,540 $ 167,540 $ - $ - $ 167,540 Available for sale securities 84,962 - 84,962 - 84,962 Loans held for investment, net of allowance 993,808 - - 998,575 998,575 Accrued interest receivable 3,285 - 473 2,812 3,285 Financial liabilities Total deposits $ 1,133,684 $ - $ - $ 1,133,684 $ 1,133,684 Accrued interest payable 43 - - 43 43 Other borrowed funds 10,069 - 10,069 - 10,069 The fair value estimates presented above are based on pertinent information available to management as of the dates indicated. The methods used to determine fair value are described in our audited financial statements which are presented in the Company’s prospectus filed with the Securities and Exchange Commission on October 8, 2015 pursuant to Rule 424(b)(4). The following tables present fair values for assets measured at fair value on a recurring basis: As of September 30, 2015 Level 1 Level 2 Level 3 Total (Dollars in thousands) Available for sale securities: U.S. Government and agency securities $ - $ 9,124 $ - $ 9,124 Municipal securities - 112,062 - 112,062 Agency mortgage-backed pass-through securities - 31,127 - 31,127 Agency collateralized mortgage obligations - 2,233 - 2,233 $ - $ 154,546 $ - $ 154,546 As of December 31, 2014 Level 1 Level 2 Level 3 Total (Dollars in thousands) Available for sale securities: U.S. Government and agency securities $ - $ 14,477 $ - $ 14,477 Municipal securities - 35,481 - 35,481 Agency mortgage-backed pass-through securities - 32,475 - 32,475 Agency collateralized mortgage obligations - 2,529 - 2,529 $ - $ 84,962 $ - $ 84,962 There were no liabilities measured at fair value on a recurring basis as of September 30, 2015 or December 31, 2014. There were no transfers between levels during the nine months ended September 30, 2015 or 2014. Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances such as evidence of impairment. As of September 30, 2015 Level 1 Level 2 Level 3 (Dollars in thousands) Impaired loans: Commercial and industrial $ - $ - $ 1,303 Commercial real estate (including multi-family residential) - - 774 Consumer and other - - 14 $ - $ - $ 2,091 As of December 31, 2014 Level 1 Level 2 Level 3 (Dollars in thousands) Impaired loans Commercial and industrial $ - $ - $ 1,301 Commercial real estate (including multi-family residential) - - 170 Consumer and other - - 3 $ - $ - $ 1,474 Level 3 Valuations During the nine months ended September 30, 2015 and the year ended December 31, 2014, certain impaired loans were reevaluated and reported at fair value through a specific allocation of the allowance for loan losses. At September 30, 2015, the total reported fair value of impaired loans of $2.1 million based on collateral valuations utilizing Level 3 valuation inputs had a carrying value of $2.8 million that was reduced by specific allowance allocations totaling $700 thousand. At December 31, 2014, the total reported fair value of impaired loans of $1.5 million based on collateral valuations utilizing Level 3 valuation inputs had a carrying value of $2.0 million that was reduced by specific allowance allocations totaling $512 thousand. |
Note 7 - Deposits
Note 7 - Deposits | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | 7. DEPOSITS Time deposits that meet or exceed the Federal Deposit Insurance Corporation (the “FDIC”) Insurance limit of $250 thousand at September 30, 2015 and December 31, 2014 were $140.8 million and $97.0 million, respectively. Scheduled maturities of time deposits for the next five years are as follows (dollars in thousands): Within one year $ 382,666 After one but within two years 93,074 After two but within three years 38,960 After three but within four years 16,384 After four but within five years 16,086 Total $ 547,170 |
Note 8 - Borrowings
Note 8 - Borrowings | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | 8. BORROWINGS The Company has an available line of credit with the FHLB of Dallas, which allows the Company to borrow on a collateralized basis. FHLB advances are short-term, overnight borrowings and are used to manage liquidity as needed. Maturing advances are replaced by drawing on available cash, making additional borrowings or through increased customer deposits. At September 30, 2015, the Company had total funds of $512.1 million available under this agreement, of which $119.0 million was outstanding. Short-term overnight FHLB advances of $115.0 million were outstanding at September 30, 2015, at a weighted average rate of 0.18%. Letters of credit were $4.0 million at September 30, 2015, of which $1.5 million will expire in January 2016 and $2.5 million will expire in August 2016. In 2015, the Company borrowed an additional $18.0 million on a borrowing agreement with another financial institution in addition to the $10.1 million indebtedness incurred in 2014. The borrowing matures in December 2021. The Company used the funds borrowed in 2015 to repay debt that F&M owed and used the borrowed funds in 2014 to pay off a previous borrowing with another financial institution entered into during 2013 in conjunction with the purchase of Independence Bank. The note agreement requires the Company to meet certain restrictive covenants. At September 30, 2015, the Company believes it is in compliance with its debt covenants and had not been made aware of any noncompliance by the lender. The interest rate on the debt is the Prime Rate minus 25 basis points, or 3.00%, at September 30, 2015, and is paid quarterly. Scheduled principal maturities are as follows (dollars in thousands): 2015 $ 2,354 2016 4,285 2017 4,285 2018 4,285 2019 and thereafter 12,860 Total $ 28,069 |
Note 9 - Subordinated Debenture
Note 9 - Subordinated Debentures | 9 Months Ended |
Sep. 30, 2015 | |
Subordinated Borrowings [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | 9. SUBORDINATED DEBENTURES On January 1, 2015, the Company acquired F&M and assumed Farmers & Merchants Capital Trust II and Farmers & Merchants Capital Trust III. Each of the trusts is a capital or statutory business trust organized for the sole purpose of issuing trust securities and investing the proceeds in the Company’s junior subordinated debentures. The preferred trust securities of each trust represent preferred beneficial interests in the assets of the respective trusts and are subject to mandatory redemption upon payment of the junior subordinated debentures held by the trust. The common securities of each trust are wholly owned by the Company. Each trust’s ability to pay amounts due on the trust preferred securities is solely dependent upon the Company making payment on the related junior subordinated debentures. The debentures, which are the only assets of each trust, are subordinate and junior in right of payment to all of the Company’s present and future senior indebtedness. The Company has fully and unconditionally guaranteed each trust’s obligations under the trust securities issued by such trust to the extent not paid or made by each trust, provided such trust has funds available for such obligations. Under the provisions of each issue of the debentures, the Company has the right to defer payment of interest on the debentures at any time, or from time to time, for periods not exceeding five years. If interest payments on either issue of the debentures are deferred, the distributions on the applicable trust preferred securities and common securities will also be deferred. On January 1, 2015, the Company recorded the debentures at fair value. The differences between the carrying value and contractual balance will be recognized as a yield adjustment over the remaining term for the debentures. At September 30, 2015, the Company had $11.3 million outstanding in junior subordinated debentures issued to the Company’s unconsolidated subsidiary trusts. A summary of pertinent information related to the Company’s issues of junior subordinated debentures outstanding at September 30, 2015 is set forth in the table below: Description Issuance Date Trust Preferred Securities Outstanding Interest Rate (1) Junior Subordinated Debt Owed to Trusts Maturity Date (2) (Dollars in thousands) Farmers & Merchants Capital Trust II November 13, 2003 $ 7,500 3 month LIBOR + 3.00% $ 7,732 November 8, 2033 Farmers & Merchants Capital Trust III June 30, 2005 3,500 3 month LIBOR + 1.80% 3,609 July 7, 2035 $ 11,341 (1) The 3-month LIBOR in effect as of September 30, 2015 was 0.3214%. (2) All debentures are currently callable. |
Note 10 - Income Taxes
Note 10 - Income Taxes | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 10. INCOME TAXES The amount of federal and state income tax expense is influenced by the amount of pre-tax income, the amount of tax-exempt income and the amount of other nondeductible items. For the three and nine months ended, September 30, 2015, income tax expense was $2.0 million and $5.8 million, respectively, compared with $1.2 million and $3.8 million for the three and nine months ended September 30, 2014, respectively. The increase in income tax expense year over year was primarily attributable to higher pre-tax earnings. The effective income tax rate for the three and nine months ended September 30, 2015 was 31.7% and 33.4%, respectively, compared to 37.8% and 36.1% for the three and nine months ended September 30, 2014, respectively. The effective tax rate decreased for the three months ended September 30, 2015 compared to the same period in 2014 due to an increase in tax-free income from the purchase of additional municipal securities and bank owned life insurance during 2015. Interest and penalties related to tax positions are recognized in the period in which they begin accruing or when the entity claims the position that does not meet the minimum statutory thresholds. The Company has not recorded any interest and penalties in the income statement for the nine months ended September 30, 2015 and 2014. |
Note 11 - Stock Based Compensat
Note 11 - Stock Based Compensation | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 11. STOCK BASED COMPENSATION During 2008, the Company’s Board of Directors and shareholders approved the 2008 Stock Awards and Incentive Plan (the “Plan”) covering certain key employees to purchase shares of the Company’s stock. The Plan was amended in 2015 as the shareholders authorized a maximum aggregate number of shares of stock to be issued of 1,460,000, any or all of which may be issued through incentive stock options. The Company accounts for stock-based employee compensation plans using the fair value-based method of accounting. The Company recognized total stock-based compensation expense of $310 thousand and $190 thousand for the three months ended September 30, 2015 and 2014, respectively, and $951 thousand and $517 thousand for the nine months ended September 30, 2015 and 2014, respectively. Stock Option Plan Options to purchase a total of 1,112,231 shares of Company stock have been granted as of September 30, 2015. Under the stock option plan; options are exercisable up to 10 years from the date of the grant, unless otherwise provided by the Board of Directors and are fully vested 4 years after the date of grant. The fair value of stock options granted is estimated at the date of grant using the Black-Scholes option-pricing model. A summary of the activity in the stock option plan during the nine months ended September 30, 2015 is set forth below: Number of Weighted Weighted Aggregate (In thousands) (In years) (In thousands) Options outstanding, December 31, 2014 694 $ 15.60 6.57 $ 4,437 Options granted 277 22.00 Options exercised - 22.00 Options forfeited (24 ) 22.00 Options outstanding, September 30, 2015 947 $ 17.32 6.79 $ 4,432 Options vested and exercisable, September 30, 2015 461 $ 13.38 4.59 $ 3,972 The fair value of options granted was determined using the following weighted-average assumptions as of the grant date. 2015 Risk-free interest rate 1.98 % Expected term 10 Expected stock price volatility 17.7 % Dividend yield - Share Award Plan During 2015, the Company issued 3,983 shares of restricted stock with a grant date fair value of $22.00 per share. The restricted stock shares will vest over a period of 4 years but are considered outstanding at the date of issuance. The Company accounts for restricted stock grants by recording the fair value of the grant as compensation expense over the vesting period. A summary of the activity of the nonvested shares of restricted stock as of September 30, 2015 is as follows: Number of Weighted (Shares in thousands) Nonvested share awards outstanding, December 31, 2014 27 $ 18.23 Share awards granted 4 22.00 Share awards vested (12 ) 17.20 Unvested share awards forfeited - - Nonvested share awards outstanding, September 30, 2015 19 $ 19.73 |
Note 12 - Off-balance Sheet Arr
Note 12 - Off-balance Sheet Arrangements, Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Off Balance Sheet Arrangements Commitments And Contingencies Disclosure [Abstract] | |
Off Balance Sheet Arrangements Commitments And Contingencies Disclosure [Text Block] | 12. OFF-BALANCE SHEET ARRANGEMENTS, COMMITMENTS AND CONTINGENCIES In the normal course of business, the Company enters into various transactions, which, in accordance with accounting principles generally accepted in the United States are not included in the Company’s consolidated balance sheets. The Company enters into these transactions to meet the financing needs of its customers. These transactions include commitments to extend credit and standby and commercial letters of credit, which involve to varying degrees elements of credit risk and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. The Company uses the same credit policies in making commitments and conditional obligations as it does for on balance sheet instruments. The contractual amounts of financial instruments with off-balance sheet risk at September 30, 2015 are as follows: September 30, December 31, 2015 2014 Fixed Variable Fixed Variable (Dollars in thousands) Commitments to extend credit $ 357,148 $ 217,781 $ 178,803 $ 214,195 Standby letters of credit 5,155 111 4,006 - Total $ 362,303 $ 217,892 $ 182,809 $ 214,195 Commitments to make loans are generally made for periods of 120 days or less. As of September 30, 2015, the fixed rate loan commitments have interest rates ranging from 1.60% to 9.50% with a weighted average maturity and rate of 1.92 years and 4.57%, respectively. Litigation The Company and the Bank are defendants, from time to time, in legal actions arising from transactions conducted in the ordinary course of business. The Company and the Bank believe, after consultations with legal counsel, that the ultimate liability, if any, arising from such actions will not have a material adverse effect on the financial statements. |
Note 13 - Regulatory Capital Ma
Note 13 - Regulatory Capital Matters | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 13. REGULATORY CAPITAL MATTERS The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Capital adequacy guidelines prompt corrective action regulations and involve quantitative measures of assets, liabilities and certain off balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors. Any institution that fails to meet its minimum capital requirements is subject to actions by regulators that could have a direct material effect on the Company’s financial statements. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited as is asset growth and expansion; and capital restoration plans are required. On July 2, 2013, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) approved a final rule that establishes an integrated regulatory capital framework. The rule implements the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain changes required by the Dodd-Frank Act. In general, under the new rules, minimum requirements have increased for both the quantity and quality of capital held by banking organizations. Consistent with the Basel framework, the new rules include a new minimum ratio of common equity Tier 1 capital to risk-weighted assets of 4.5% and a common equity Tier 1 capital conservation buffer of 2.5% of risk-weighted assets that applies to all supervised financial institutions. The rule also raises the minimum ratio of Tier 1 capital to risk weighted assets from 4.0% to 6.0% and includes a minimum leverage ratio of 4.0% for all banking organizations. The new rules also change the methodology for calculating risk-weighted assets to enhance risk sensitivity and became effective on January 1, 2015. As of September 30, 2015, the Company and the Bank met all capital adequacy requirements to which they were subject. The Company’s principal source of funds for dividend payments is dividends received from the Bank. Banking regulations limit the amount of dividends that may be paid without prior approval of regulatory agencies. Under these regulations, the amount of dividends that may be paid by the Bank in any calendar year is limited to the current year’s net profits combined with the retained net profits of the preceding two years, subject to the capital requirements described above. The following is a summary of the Company’s and the Bank’s actual and required capital ratios at September 30, 2015 and December 31, 2014: Minimum Required To Be Categorized As Actual Ratio ALLEGIANCE BANCSHARES, INC. (Consolidated) As of September 30, 2015 Common equity Tier 1 capital (to risk weighted assets) 4.50 % N/A 8.61 % Leverage ratio (to average assets) 4.00 % N/A 8.37 % Tier 1 risk-based capital ratio (to risk weighted assets) 6.00 % N/A 9.12 % Total risk-based capital ratio (to risk weighted assets) 8.00 % N/A 9.75 % As of December 31, 2014 Common equity Tier 1 capital (to risk weighted assets) N/A N/A N/A Leverage ratio (to average assets) 4.00 % N/A 9.55 % Tier 1 risk-based capital ratio (to risk weighted assets) 4.00 % N/A 11.96 % Total risk-based capital ratio (to risk weighted assets) 8.00 % N/A 12.80 % ALLEGIANCE BANK: Minimum Required To Be Categorized As Actual Ratio Common equity Tier 1 capital (to risk weighted assets) 4.50 % 6.50 % 10.69 % Leverage ratio (to average assets) 4.00 % 5.00 % 9.80 % Tier 1 risk-based capital ratio (to risk weighted assets) 6.00 % 8.00 % 10.69 % Total risk-based capital ratio (to risk weighted assets) 8.00 % 10.00 % 11.32 % As of December 31, 2014 Common equity Tier 1 capital (to risk weighted assets) N/A N/A N/A Leverage ratio (to average assets) 4.00 % 5.00 % 9.38 % Tier 1 risk-based capital ratio (to risk weighted assets) 4.00 % 6.00 % 11.76 % Total risk-based capital ratio (to risk weighted assets) 8.00 % 10.00 % 12.59 % |
Note 14 - Earnings Per Common S
Note 14 - Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 14. EARNINGS PER COMMON SHARE Diluted earnings per common share is computed using the weighted-average number of common shares determined for the basic earnings per common share computation plus the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock using the treasury stock method. Outstanding stock options issued by the Company represent the only dilutive effect reflected in diluted weighted average shares. Restricted shares are considered outstanding at the date of grant and are included in basic and diluted weighted average common shares outstanding. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (Amounts in thousands, except per share data) Amount Per Share Amount Per Share Amount Per Share Amount Per Share Net income attributable to common stockholders $ 4,047 $ 2,021 $ 11,015 $ 6,705 Basic: Weighted average common shares outstanding 9,823 $ 0.41 6,979 $ 0.29 9,823 $ 1.12 6,972 $ 0.96 Diluted: Add incremental shares for: Dilutive effect of stock option exercises 180 175 178 161 Total 10,003 $ 0.40 7,154 $ 0.28 10,001 $ 1.10 7,133 $ 0.94 Stock options for 318 thousand shares and 241 thousand shares of common stock were not considered in computing diluted earnings per common share for September 30, 2015 and 2014, respectively, because they were antidilutive. The Company’s initial public offering was completed in the fourth quarter as described below and could have a material impact on earnings per share going forward. |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 9 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 15. SUBSEQUENT EVENTS On October 7, 2015, the Company completed an initial public offering of 2,990,000 shares of Company stock at $21.00 per share generating net proceeds of approximately $57.2 million after expenses. The Company’s common stock began trading on the NASDAQ Global Market on October 8, under the ticker symbol “ABTX.” On October 16, 2015, the Company paid down $27.5 million on the borrowing agreement with another financial institution with a portion of the proceeds from the Initial Public Offering. On November 3, 2015, the Bank entered into a definitive purchase and assumption agreement providing for the sale of two of its banking locations to Incommons Bank, N.A., a national banking association headquartered in Mexia, Texas. Under the terms of the purchase and assumption agreement, Incommons Bank, N.A. will acquire certain assets and assume certain liabilities associated with the Mart banking location at 714 Texas Avenue in Mart, Texas and the Rosebud banking location at 339 Main Street in Rosebud, Texas. Loans and branch assets of $27.0 million and $1.4 million, respectively, associated with these branches have been classified as held for sale at September 30, 2015. Deposits associated with these branches were $27.1 million as of September 30, 2015. The transaction is subject to regulatory approval and certain other customary conditions and is expected to close during the first quarter of 2016. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation- In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis, and all such adjustments are of a normal recurring nature. Transactions with the subsidiary have been eliminated. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in the Company’s prospectus filed with the Securities and Exchange Commission on October 8, 2015 pursuant to Rule 424(b)(4) for the fiscal year ended December 31, 2014. Operating results for the nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. Furthermore, the acquisition of F&M Bancshares, Inc. during the first quarter of 2015 may impact the comparability of year to date 2015 versus year to date 2014 comparable information. |
Bank Owned Life Insurance, Policy [Policy Text Block] | Bank Owned Life Insurance |
Trade and Loan Receivables, Nonmortgage Loans Held-for-sale, Policy [Policy Text Block] | Loans held for Sale |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Standards Adoption of New Accounting Standards On January 1, 2015, the Company adopted Accounting Standards Update (ASU) 2014-04 “Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40) — Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure.” Newly Issued But Not Yet Effective Accounting Standards ASU 2015-16, “Business Combinations (Topic 805) – Simplifying the Accounting for Measurement-Period Adjustments.” ASU 2014-09 “Revenue from Contract with Customers (Topic 606).” |
Note 2 - Acquisitions (Tables)
Note 2 - Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Fair value of consideration paid: Common shares issued (2,338,520 shares) $ 51,447 Preferred shares issued (11,550 shares) 11,550 Cash consideration 642 Total consideration paid $ 63,639 Fair value of assets acquired: Cash and cash equivalents $ 107,128 Investment Securities 14,722 Loans, net 404,637 Premises and equipment 7,699 Core deposit intangibles 4,313 Other assets 15,896 Total assets acquired $ 554,395 Fair value of liabilities assumed: Deposits $ 489,556 Subordinated debt 8,871 Other borrowed funds 18,000 Other liabilities 2,574 Total liabilities assumed 519,001 Fair value of net assets acquired $ 35,394 Goodwill resulting from acquisition $ 28,245 |
Details of Loans Acquired [Table Text Block] | Contractual Balance Fair Value Discount Commercial and industrial $ 96,891 $ 95,256 $ (1,635 ) Real estate: Commercial real estate (including multi-family residential) 225,191 222,082 (3,109 ) Commercial real estate construction and land development 40,787 40,094 (693 ) 1-4 family residential (including home equity) 35,897 35,488 (409 ) Residential construction 6,467 6,395 (72 ) Consumer and other 5,421 5,322 (99 ) Total loans $ 410,654 $ 404,637 $ (6,017 ) |
Business Acquisition, Pro Forma Information [Table Text Block] | For the Three Months Ending September 30, For the Nine Months Ending September 30, 2015 2014 2015 2014 Net interest income $ 20,030 $ 18,039 $ 58,879 $ 52,929 Net income attributable to common stockholders 3,606 3,204 8,710 11,388 Basic earnings per common share 0.37 0.34 0.89 1.22 Diluted earnings per common share 0.36 0.34 0.87 1.20 |
Note 3 - Goodwill and Core De25
Note 3 - Goodwill and Core Deposit Intangibles (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Goodwill Core Deposit (Dollars in thousands) Balance as of January 1, 2014 $ 10,999 $ 2,045 Measurement period adjustment 145 - Amortization - (298 ) Balance as of December 31, 2014 11,144 1,747 Acquisition of F&M Bancshares, Inc. 28,245 4,312 Amortization - (622 ) Balance as of September 30, 2015 $ 39,389 $ 5,437 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-sale Securities [Table Text Block] | September 30, 2015 Amortized Gross Gross Fair (Dollars in thousands) Available for Sale U.S. Government and agency securities $ 8,658 $ 466 $ - $ 9,124 Municipal securities 110,810 1,455 (203 ) 112,062 Agency mortgage-backed pass-through securities 30,779 530 (182 ) 31,127 Agency collateralized mortgage obligations 2,270 23 (60 ) 2,233 Total $ 152,517 $ 2,474 $ (445 ) $ 154,546 December 31, 2014 Amortized Gross Gross Fair (Dollars in thousands) Available for Sale U.S. Government and agency securities $ 14,080 $ 442 $ (45 ) $ 14,477 Municipal securities 35,272 283 (74 ) 35,481 Agency mortgage-backed pass-through securities 32,191 472 (188 ) 32,475 Agency collateralized mortgage obligations 2,587 21 (79 ) 2,529 Total $ 84,130 $ 1,218 $ (386 ) $ 84,962 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | September 30, 2015 Less than 12 Months More than 12 Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (Dollars in thousands) Available for Sale U.S. Government and agency securities $ - $ - $ - $ - $ - $ - Municipal securities 24,953 (202 ) 115 (1 ) 25,068 (203 ) Agency mortgage-backed pass-through securities 5,980 (38 ) 6,530 (144 ) 12,510 (182 ) Agency collateralized mortgage obligations 724 (8 ) 733 (52 ) 1,457 (60 ) Total $ 31,657 $ (248 ) $ 7,378 $ (197 ) $ 39,035 $ (445 ) December 31, 2014 Less than 12 Months More than 12 Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (Dollars in thousands) Available for Sale U.S. Government and agency securities $ 2,842 $ (3 ) $ 1,748 $ (42 ) $ 4,590 $ (45 ) Municipal securities 14,102 (74 ) - - 14,102 (74 ) Agency mortgage-backed pass-through securities 498 (1 ) 14,058 (187 ) 14,556 (188 ) Agency collateralized mortgage obligations - - 1,607 (79 ) 1,607 (79 ) Total $ 17,442 $ (78 ) $ 17,413 $ (308 ) $ 34,855 $ (386 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair (Dollars in thousands) Due in one year or less $ 8,026 $ 8,048 Due after one year through five years 15,706 15,884 Due after five years through ten years 27,278 27,837 Due after ten years 68,458 69,417 Subtotal 119,468 121,186 Agency mortgage-backed pass through securities and agency collateralized mortgage obligations 33,049 33,360 Total $ 152,517 $ 154,546 |
Note 5 - Loans and Allowance 27
Note 5 - Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2015 December 31, 2014 (Dollars in thousands) Loans held for sale (1) $ 27,004 $ - Commercial and industrial 367,341 242,034 Mortgage warehouse (2) 65,928 28,329 Real estate: Commercial real estate (including multi-family residential) 710,857 429,986 Commercial real estate construction and land development 151,369 85,484 1-4 family residential (including home equity) 185,473 135,127 Residential construction 95,212 72,402 Consumer and other 13,232 8,692 Total loans held for investment 1,589,412 1,002,054 Total loans 1,616,416 1,002,054 Allowance for loan losses (11,204 ) (8,246 ) Loans, net $ 1,605,212 $ 993,808 |
Past Due Financing Receivables [Table Text Block] | September 30, 2015 Loans Past Due and Still Accruing 30-89 90 or More Total Past Nonaccrual Current Total (Dollars in thousands) Loans held for sale $ 157 $ - $ 157 $ 498 $ 26,349 $ 27,004 Commercial and industrial 349 - 349 3,476 363,516 367,341 Mortgage warehouse - - - - 65,928 65,928 Real estate: Commercial real estate (including multi-family residential) 393 - 393 1,783 708,681 710,857 Commercial real estate construction and land development 129 - 129 - 151,240 151,369 1-4 family residential (including home equity) 188 - 188 341 184,944 185,473 Residential construction 4 - 4 - 95,208 95,212 Consumer and other 112 - 112 87 13,033 13,232 Total loans held for investment 1,175 - 1,175 5,687 1,582,550 1,589,412 Total loans $ 1,332 $ - $ 1,332 $ 6,185 $ 1,608,899 $ 1,616,416 December 31, 2014 Loans Past Due and Still Accruing 30-89 Days 90 or More Total Past Nonaccrual Current Total (Dollars in thousands) Commercial and industrial $ 274 $ - $ 274 $ 1,527 $ 240,233 $ 242,034 Mortgage warehouse - - - - 28,329 28,329 Real estate: Commercial real estate (including multi-family residential) - - - 1,653 428,333 429,986 Commercial real estate construction and land development - - - - 85,484 85,484 1-4 family residential (including home equity) - - - 135,127 135,127 Residential construction 413 - 413 - 71,989 72,402 Consumer and other 46 - 46 4 8,642 8,692 Total loans $ 733 $ - $ 733 $ 3,184 $ 998,137 $ 1,002,054 |
Impaired Financing Receivables [Table Text Block] | September 30, 2015 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 1,950 $ 2,272 $ - $ 2,315 $ 102 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 972 972 - 1,029 66 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) 379 379 - 382 12 Residential construction - - - - - Consumer and other 101 101 - 110 6 Total 3,402 3,724 - 3,836 186 With an allowance recorded: Commercial and industrial 1,907 1,907 604 1,970 53 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 864 864 90 838 20 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) - - - - - Residential construction - - - - - Consumer and other 20 20 6 22 1 Total 2,791 2,791 700 2,830 74 Total: Commercial and industrial 3,857 4,179 604 4,285 155 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 1,836 1,836 90 1,867 86 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) 379 379 - 382 12 Residential construction - - - - - Consumer and other 121 121 6 132 7 $ 6,193 $ 6,515 $ 700 $ 6,666 $ 260 December 31, 2014 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 999 $ 1,054 $ - $ 1,292 $ 83 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 2,894 2,894 - 1,641 182 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) - - - 2 - Residential construction - - - - - Consumer and other - - - 1,084 - Total 3,893 3,948 - 4,019 265 With an allowance recorded: Commercial and industrial 1,802 1,802 501 2,247 128 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 180 180 10 715 12 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) - - - 40 - Residential construction - - - - - Consumer and other 4 4 1 2,102 - Total 1,986 1,986 512 5,104 140 Total: Commercial and industrial 2,801 2,856 501 3,539 211 Mortgage warehouse - - - - - Commercial real estate (including multi-family residential) 3,074 3,074 10 2,356 194 Commercial real estate construction and land development - - - - - 1-4 family residential (including home equity) - - - 42 - Residential construction - - - - - Consumer and other 4 4 1 3,186 - $ 5,879 $ 5,934 $ 512 $ 9,123 $ 405 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Watch Special Mention Substandard Doubtful Total (Dollars in thousands) Loans held for sale $ 25,806 $ 25 $ 26 $ 1,147 $ - $ 27,004 Commercial and industrial 355,053 5,173 1,810 5,305 - 367,341 Mortgage warehouse 65,928 - - - - 65,928 Commercial real estate (including multi-family residential) 690,617 7,960 819 11,461 - 710,857 Commercial real estate construction and land development 149,167 2,202 - - - 151,369 1-4 family residential (including home equity) 181,053 1,824 237 2,359 - 185,473 Residential construction 95,212 - - - - 95,212 Consumer and other 13,052 74 - 106 - 13,232 Total loans held for investment 1,550,082 17,233 2,866 19,231 - 1,589,412 Total loans $ 1,575,888 $ 17,258 $ 2,892 $ 20,378 $ - $ 1,616,416 Pass Watch Special Mention Substandard Doubtful Total (Dollars in thousands) Commercial and industrial $ 235,006 $ 1,817 $ 291 $ 4,920 $ - $ 242,034 Mortgage warehouse 28,329 - - - - 28,329 Commercial real estate (including multi-family residential) 408,117 9,365 - 12,504 - 429,986 Commercial real estate construction and land development 82,643 2,841 - - - 85,484 1-4 family residential (including home equity) 132,979 1,677 83 388 - 135,127 Residential construction 71,025 - 1,200 177 - 72,402 Consumer and other 8,636 35 - 21 - 8,692 Total loans held for investment $ 966,735 $ 15,735 $ 1,574 $ 18,010 $ - $ 1,002,054 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Commercial and Industrial Mortgage Warehouse Commercial real estate (including multi-family residential) Commercial real estate construction and land development 1-4 family residential (including home equity) Residential Construction Consumer and Other Total (Dollars in thousands) Allowance for loan losses: Three Months Ended Balance June 30, 2015 $ 2,905 $ - $ 4,533 $ 842 $ 1,255 $ 710 $ 67 $ 10,312 Provision for loan losses 820 - 434 173 68 25 10 1,530 Charge-offs (641 ) - - - - - (8 ) (649 ) Recoveries 7 - - - - 2 2 11 Net charge-offs (634 ) - - - - 2 (6 ) (638 ) Balance September 30, 2015 $ 3,091 $ - $ 4,967 $ 1,015 $ 1,323 $ 737 $ 71 $ 11,204 Nine Months Ended Balance January 1, 2015 $ 2,334 $ - $ 3,799 $ 578 $ 1,008 $ 475 $ 52 $ 8,246 Provision for loan losses 1,434 - 1,168 437 315 238 41 3,633 Charge-offs (723 ) - - - - - (26 ) (749 ) Recoveries 46 - - - - 24 4 74 Net charge-offs (677 ) - - - - 24 (22 ) (675 ) Balance September 30, 2015 $ 3,091 $ - $ 4,967 $ 1,015 $ 1,323 $ 737 $ 71 $ 11,204 Commercial and Industrial Mortgage Commercial real estate (including multi-family residential) Commercial real estate construction and land development 1-4 family residential (including home equity) Residential Consumer Total (Dollars in thousands) Allowance for loan losses: Three Months Ended Balance June 30, 2014 $ 2,083 $ - $ 3,396 $ 615 $ 875 $ 441 $ 52 $ 7,462 Provision for loan losses 722 - 97 (116 ) 83 (43 ) 7 750 Charge-offs (481 ) - - - - - - (481 ) Recoveries 9 - - - - - - 9 Net charge-offs (472 ) - - - - - - (472 ) Balance September 30, 2014 $ 2,333 $ - $ 3,493 $ 499 $ 958 $ 398 $ 59 $ 7,740 Nine Months Ended Balance January 1, 2014 $ 2,729 $ - $ 2,175 $ 357 $ 558 $ 598 $ 238 $ 6,655 Provision for loan losses 130 - 1,318 142 400 (200 ) (140 ) 1,650 Charge-offs (555 ) - - - - - (40 ) (595 ) Recoveries 29 - - - - - 1 30 Net charge-offs (526 ) - - - - (39 ) (565 ) Balance September 30, 2014 $ 2,333 $ - $ 3,493 $ 499 $ 958 $ 398 $ 59 $ 7,740 Commercial and Industrial Mortgage Commercial real estate (including multi-family residential) Commercial real estate construction and land development 1-4 family residential (including home equity) Residential Consumer Total (Dollars in thousands) Allowance for loan losses related to: September 30, 2015 Individually evaluated for impairment $ 604 $ - $ 90 $ - $ - $ - $ 6 $ 700 Collectively evaluated for impairment 2,487 - 4,877 1,015 1,323 737 65 10,504 Total allowance for loan losses $ 3,091 $ - $ 4,967 $ 1,015 $ 1,323 $ 737 $ 71 $ 11,204 December 31, 2014 Individually evaluated for impairment $ 501 $ - $ 10 $ - $ - $ - $ 1 $ 512 Collectively evaluated for impairment 1,833 - 3,789 578 1,008 475 51 7,734 Total allowance for loan losses $ 2,334 $ - $ 3,799 $ 578 $ 1,008 $ 475 $ 52 $ 8,246 Commercial and Industrial Mortgage Commercial real estate (including multi-family residential) Commercial real estate construction and land development 1-4 family residential (including home equity) Residential Consumer Total (Dollars in thousands) Recorded investment in loans: September 30, 2015 Individually evaluated for impairment $ 3,857 $ - $ 1,836 $ - $ 379 $ - $ 121 $ 6,193 Collectively evaluated for impairment 363,484 65,928 709,021 151,369 185,094 95,212 13,111 1,583,219 Total loans evaluated for impairment $ 367,341 $ 65,928 $ 710,857 $ 151,369 $ 185,473 $ 95,212 $ 13,232 $ 1,589,412 December 31, 2014 Individually evaluated for impairment $ 2,801 $ - $ 3,074 $ - $ - $ - $ 4 $ 5,879 Collectively evaluated for impairment 239,233 28,329 426,912 85,484 135,127 72,402 8,688 996,175 Total loans evaluated for impairment $ 242,034 $ 28,329 $ 429,986 $ 85,484 $ 135,127 $ 72,402 $ 8,692 $ 1,002,054 |
Note 6 - Fair Value (Tables)
Note 6 - Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | As of September 30, 2015 Carrying Estimated Fair Value Amount Level 1 Level 2 Level 3 Total Financial assets (Dollars in thousands) Cash and cash equivalents $ 144,590 $ 144,590 $ - $ - $ 144,590 Available for sale securities 154,546 - 154,546 - 154,546 Loans held for sale 27,004 - - 27,004 27,004 Loans held for investment, net of allowance 1,578,208 - - 1,584,059 1,584,059 Accrued interest receivable 5,213 - 968 4,245 5,213 Financial liabilities Total deposits $ 1,656,548 $ - $ - $ 1,658,643 $ 1,658,643 Accrued interest payable 150 - 65 85 150 Short-term borrowings 115,000 - 115,000 - 115,000 Subordinated debentures 9,062 - 9,062 - 9,062 Other borrowed funds 28,069 - 28,069 - 28,069 As of December 31, 2014 Carrying Estimated Fair Value Amount Level 1 Level 2 Level 3 Total Financial assets (Dollars in thousands) Cash and cash equivalents $ 167,540 $ 167,540 $ - $ - $ 167,540 Available for sale securities 84,962 - 84,962 - 84,962 Loans held for investment, net of allowance 993,808 - - 998,575 998,575 Accrued interest receivable 3,285 - 473 2,812 3,285 Financial liabilities Total deposits $ 1,133,684 $ - $ - $ 1,133,684 $ 1,133,684 Accrued interest payable 43 - - 43 43 Other borrowed funds 10,069 - 10,069 - 10,069 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | As of September 30, 2015 Level 1 Level 2 Level 3 Total (Dollars in thousands) Available for sale securities: U.S. Government and agency securities $ - $ 9,124 $ - $ 9,124 Municipal securities - 112,062 - 112,062 Agency mortgage-backed pass-through securities - 31,127 - 31,127 Agency collateralized mortgage obligations - 2,233 - 2,233 $ - $ 154,546 $ - $ 154,546 As of December 31, 2014 Level 1 Level 2 Level 3 Total (Dollars in thousands) Available for sale securities: U.S. Government and agency securities $ - $ 14,477 $ - $ 14,477 Municipal securities - 35,481 - 35,481 Agency mortgage-backed pass-through securities - 32,475 - 32,475 Agency collateralized mortgage obligations - 2,529 - 2,529 $ - $ 84,962 $ - $ 84,962 |
Fair Value Measurements, Nonrecurring [Table Text Block] | As of September 30, 2015 Level 1 Level 2 Level 3 (Dollars in thousands) Impaired loans: Commercial and industrial $ - $ - $ 1,303 Commercial real estate (including multi-family residential) - - 774 Consumer and other - - 14 $ - $ - $ 2,091 As of December 31, 2014 Level 1 Level 2 Level 3 (Dollars in thousands) Impaired loans Commercial and industrial $ - $ - $ 1,301 Commercial real estate (including multi-family residential) - - 170 Consumer and other - - 3 $ - $ - $ 1,474 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Maturities of Time Deposits [Table Text Block] | Within one year $ 382,666 After one but within two years 93,074 After two but within three years 38,960 After three but within four years 16,384 After four but within five years 16,086 Total $ 547,170 |
Note 8 - Borrowings (Tables)
Note 8 - Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2015 $ 2,354 2016 4,285 2017 4,285 2018 4,285 2019 and thereafter 12,860 Total $ 28,069 |
Note 9 - Subordinated Debentu31
Note 9 - Subordinated Debentures (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Subordinated Borrowings [Abstract] | |
Schedule of Subordinated Borrowing [Table Text Block] | Description Issuance Date Trust Preferred Securities Outstanding Interest Rate (1) Junior Subordinated Debt Owed to Trusts Maturity Date (2) (Dollars in thousands) Farmers & Merchants Capital Trust II November 13, 2003 $ 7,500 3 month LIBOR + 3.00% $ 7,732 November 8, 2033 Farmers & Merchants Capital Trust III June 30, 2005 3,500 3 month LIBOR + 1.80% 3,609 July 7, 2035 $ 11,341 |
Note 11 - Stock Based Compens32
Note 11 - Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Weighted Weighted Aggregate (In thousands) (In years) (In thousands) Options outstanding, December 31, 2014 694 $ 15.60 6.57 $ 4,437 Options granted 277 22.00 Options exercised - 22.00 Options forfeited (24 ) 22.00 Options outstanding, September 30, 2015 947 $ 17.32 6.79 $ 4,432 Options vested and exercisable, September 30, 2015 461 $ 13.38 4.59 $ 3,972 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2015 Risk-free interest rate 1.98 % Expected term 10 Expected stock price volatility 17.7 % Dividend yield - |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Number of Weighted (Shares in thousands) Nonvested share awards outstanding, December 31, 2014 27 $ 18.23 Share awards granted 4 22.00 Share awards vested (12 ) 17.20 Unvested share awards forfeited - - Nonvested share awards outstanding, September 30, 2015 19 $ 19.73 |
Note 12 - Off-balance Sheet A33
Note 12 - Off-balance Sheet Arrangements, Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Off Balance Sheet Arrangements Commitments And Contingencies Disclosure [Abstract] | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | September 30, December 31, 2015 2014 Fixed Variable Fixed Variable (Dollars in thousands) Commitments to extend credit $ 357,148 $ 217,781 $ 178,803 $ 214,195 Standby letters of credit 5,155 111 4,006 - Total $ 362,303 $ 217,892 $ 182,809 $ 214,195 |
Note 13 - Regulatory Capital 34
Note 13 - Regulatory Capital Matters (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Minimum Required To Be Categorized As Actual Ratio ALLEGIANCE BANCSHARES, INC. (Consolidated) As of September 30, 2015 Common equity Tier 1 capital (to risk weighted assets) 4.50 % N/A 8.61 % Leverage ratio (to average assets) 4.00 % N/A 8.37 % Tier 1 risk-based capital ratio (to risk weighted assets) 6.00 % N/A 9.12 % Total risk-based capital ratio (to risk weighted assets) 8.00 % N/A 9.75 % As of December 31, 2014 Common equity Tier 1 capital (to risk weighted assets) N/A N/A N/A Leverage ratio (to average assets) 4.00 % N/A 9.55 % Tier 1 risk-based capital ratio (to risk weighted assets) 4.00 % N/A 11.96 % Total risk-based capital ratio (to risk weighted assets) 8.00 % N/A 12.80 % ALLEGIANCE BANK: Minimum Required To Be Categorized As Actual Ratio Common equity Tier 1 capital (to risk weighted assets) 4.50 % 6.50 % 10.69 % Leverage ratio (to average assets) 4.00 % 5.00 % 9.80 % Tier 1 risk-based capital ratio (to risk weighted assets) 6.00 % 8.00 % 10.69 % Total risk-based capital ratio (to risk weighted assets) 8.00 % 10.00 % 11.32 % As of December 31, 2014 Common equity Tier 1 capital (to risk weighted assets) N/A N/A N/A Leverage ratio (to average assets) 4.00 % 5.00 % 9.38 % Tier 1 risk-based capital ratio (to risk weighted assets) 4.00 % 6.00 % 11.76 % Total risk-based capital ratio (to risk weighted assets) 8.00 % 10.00 % 12.59 % |
Note 14 - Earnings Per Common35
Note 14 - Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (Amounts in thousands, except per share data) Amount Per Share Amount Per Share Amount Per Share Amount Per Share Net income attributable to common stockholders $ 4,047 $ 2,021 $ 11,015 $ 6,705 Basic: Weighted average common shares outstanding 9,823 $ 0.41 6,979 $ 0.29 9,823 $ 1.12 6,972 $ 0.96 Diluted: Add incremental shares for: Dilutive effect of stock option exercises 180 175 178 161 Total 10,003 $ 0.40 7,154 $ 0.28 10,001 $ 1.10 7,133 $ 0.94 |
Note 1 - Nature of Operations36
Note 1 - Nature of Operations and Summary of Significant Accounting and Reporting Policies (Details) | Sep. 30, 2015 |
Disclosure Text Block [Abstract] | |
Number of Branches at Which Loans are Held for Sale | 2 |
Note 2 - Acquisitions (Details)
Note 2 - Acquisitions (Details) | Jul. 15, 2015USD ($) | Jan. 01, 2015USD ($)shares | Mar. 31, 2015 | Sep. 30, 2015USD ($) | Nov. 03, 2015 | Dec. 31, 2014 |
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Number of Branches at Which Loans are Held for Sale | 2 | |||||
Repayments of Long-term Debt (in Dollars) | $ 18,000,000 | |||||
Acquisition of F&M [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares | 2,338,520 | |||||
Payments to Acquire Businesses, Gross (in Dollars) | $ 642,000 | |||||
Goodwill, Acquired During Period (in Dollars) | $ 28,200,000 | 28,245,000 | ||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual (in Dollars) | 13,100,000 | |||||
Initial Fair Value Adjustments, Maximum Measurement Period | 1 year | |||||
Repayments of Long-term Debt (in Dollars) | 18,000,000 | |||||
Business Combination, Acquisition Related Costs (in Dollars) | $ 941,000 | |||||
Incommons Bank N.A. [Member] | Subsequent Event [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Number of Branches Agreed to Be Sold | 2 | |||||
Houston, Texas [Member] | Acquisition of F&M [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Number of Branches Consolidated During the Period | 2 | |||||
Central Texas [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Number of Branches at Which Loans are Held for Sale | 2 | |||||
Preferred Stock [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Stock Redeemed or Called During Period, Value (in Dollars) | $ 11,550 | |||||
Preferred Stock [Member] | Acquisition of F&M [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Stock Redeemed or Called During Period, Value (in Dollars) | $ 11,700,000 | |||||
Enterprise [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Number of Branches | 9 | |||||
Enterprise [Member] | Houston, Texas [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Number of Branches | 7 | |||||
Enterprise [Member] | Central Texas [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Number of Branches | 2 | |||||
Enterprise [Member] | Rosebud, Texas in Central Texas [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Number of Branches | 1 | |||||
Enterprise [Member] | Mart, Texas in Central Texas [Member] | ||||||
Note 2 - Acquisitions (Details) [Line Items] | ||||||
Number of Branches | 1 |
Note 2 - Acquisitions (Detail38
Note 2 - Acquisitions (Details) - Allocation of the Purchase Price to Assets and Liabilities - USD ($) $ in Thousands | Jan. 01, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Fair value of liabilities assumed: | ||||
Goodwill resulting from acquisition | $ 39,389 | $ 11,144 | $ 10,999 | |
Acquisition of F&M [Member] | ||||
Fair value of consideration paid: | ||||
Cash consideration | $ 642 | |||
Total consideration paid | 63,639 | |||
Fair value of assets acquired: | ||||
Cash and cash equivalents | 107,128 | |||
Investment Securities | 14,722 | |||
Loans, net | 404,637 | |||
Premises and equipment | 7,699 | |||
Core deposit intangibles | 4,313 | |||
Other assets | 15,896 | |||
Total assets acquired | 554,395 | |||
Fair value of liabilities assumed: | ||||
Deposits | 489,556 | |||
Subordinated debt | 8,871 | |||
Other borrowed funds | 18,000 | |||
Other liabilities | 2,574 | |||
Total liabilities assumed | 519,001 | |||
Fair value of net assets acquired | 35,394 | |||
Goodwill resulting from acquisition | 28,245 | |||
Acquisition of F&M [Member] | Common Stock [Member] | ||||
Fair value of consideration paid: | ||||
Consideration paid, shares issued, value | 51,447 | |||
Acquisition of F&M [Member] | Preferred Stock [Member] | ||||
Fair value of consideration paid: | ||||
Consideration paid, shares issued, value | $ 11,550 |
Note 2 - Acquisitions (Detail39
Note 2 - Acquisitions (Details) - Allocation of the Purchase Price to Assets and Liabilities (Parentheticals) - Acquisition of F&M [Member] | Jan. 01, 2015shares |
Note 2 - Acquisitions (Details) - Allocation of the Purchase Price to Assets and Liabilities (Parentheticals) [Line Items] | |
Consideration paid, shares issued | 2,338,520 |
Common Stock [Member] | |
Note 2 - Acquisitions (Details) - Allocation of the Purchase Price to Assets and Liabilities (Parentheticals) [Line Items] | |
Consideration paid, shares issued | 2,338,520 |
Preferred Stock [Member] | |
Note 2 - Acquisitions (Details) - Allocation of the Purchase Price to Assets and Liabilities (Parentheticals) [Line Items] | |
Consideration paid, shares issued | 11,550 |
Note 2 - Acquisitions (Detail40
Note 2 - Acquisitions (Details) - Details of Loans Acquired - Acquisition of F&M [Member] $ in Thousands | Jan. 01, 2015USD ($) |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | $ 404,637 |
Discount on acquired loans receivable | (6,017) |
Commercial Portfolio Segment [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Discount on acquired loans receivable | (1,635) |
Commercial Real Estate Portfolio Segment [Member] | Includes Multi-family Residential but Excludes Construction and Land Development [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Discount on acquired loans receivable | (3,109) |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Discount on acquired loans receivable | (693) |
Residential Portfolio Segment [Member] | Construction Loans [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Discount on acquired loans receivable | (72) |
Residential Portfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Discount on acquired loans receivable | (409) |
Consumer Portfolio Segment [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Discount on acquired loans receivable | (99) |
Reported Value Measurement [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 410,654 |
Reported Value Measurement [Member] | Commercial Portfolio Segment [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 96,891 |
Reported Value Measurement [Member] | Commercial Real Estate Portfolio Segment [Member] | Includes Multi-family Residential but Excludes Construction and Land Development [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 225,191 |
Reported Value Measurement [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 40,787 |
Reported Value Measurement [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 6,467 |
Reported Value Measurement [Member] | Residential Portfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 35,897 |
Reported Value Measurement [Member] | Consumer Portfolio Segment [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 5,421 |
Portion at Fair Value Measurement [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 404,637 |
Portion at Fair Value Measurement [Member] | Commercial Portfolio Segment [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 95,256 |
Portion at Fair Value Measurement [Member] | Commercial Real Estate Portfolio Segment [Member] | Includes Multi-family Residential but Excludes Construction and Land Development [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 222,082 |
Portion at Fair Value Measurement [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 40,094 |
Portion at Fair Value Measurement [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 6,395 |
Portion at Fair Value Measurement [Member] | Residential Portfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | 35,488 |
Portion at Fair Value Measurement [Member] | Consumer Portfolio Segment [Member] | |
Note 2 - Acquisitions (Details) - Details of Loans Acquired [Line Items] | |
Acquired loans receivable | $ 5,322 |
Note 2 - Acquisitions (Detail41
Note 2 - Acquisitions (Details) - Business Acquisition, Pro Forma Information - Acquisition of F&M [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Note 2 - Acquisitions (Details) - Business Acquisition, Pro Forma Information [Line Items] | ||||
Net interest income | $ 20,030 | $ 18,039 | $ 58,879 | $ 52,929 |
Net income attributable to common stockholders | $ 3,606 | $ 3,204 | $ 8,710 | $ 11,388 |
Basic earnings per common share | $ 0.37 | $ 0.34 | $ 0.89 | $ 1.22 |
Diluted earnings per common share | $ 0.36 | $ 0.34 | $ 0.87 | $ 1.20 |
Note 3 - Goodwill and Core De42
Note 3 - Goodwill and Core Deposit Intangibles (Details) - Changes in the Carrying Amount of the Company's Goodwill and Core Deposit Intangibles - USD ($) $ in Thousands | Jan. 01, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 |
Note 3 - Goodwill and Core Deposit Intangibles (Details) - Changes in the Carrying Amount of the Company's Goodwill and Core Deposit Intangibles [Line Items] | ||||||
Balance as of January 1, 2014 | $ 11,144 | $ 11,144 | $ 10,999 | $ 10,999 | ||
Measurement period adjustment | 145 | |||||
Amortization | $ (207) | $ (74) | (622) | (222) | ||
Goodwill, ending balance | 39,389 | 39,389 | 11,144 | |||
Acquisition of F&M [Member] | ||||||
Note 3 - Goodwill and Core Deposit Intangibles (Details) - Changes in the Carrying Amount of the Company's Goodwill and Core Deposit Intangibles [Line Items] | ||||||
Goodwill, ending balance | 28,245 | |||||
Acquisition of F&M Bancshares, Inc. | 28,200 | 28,245 | ||||
Core Deposits [Member] | ||||||
Note 3 - Goodwill and Core Deposit Intangibles (Details) - Changes in the Carrying Amount of the Company's Goodwill and Core Deposit Intangibles [Line Items] | ||||||
Balance as of January 1, 2014 | $ 1,747 | 1,747 | $ 2,045 | 2,045 | ||
Amortization | (622) | (298) | ||||
Finite-lived intangibles, ending balance | $ 5,437 | 5,437 | $ 1,747 | |||
Core Deposits [Member] | Acquisition of F&M [Member] | ||||||
Note 3 - Goodwill and Core Deposit Intangibles (Details) - Changes in the Carrying Amount of the Company's Goodwill and Core Deposit Intangibles [Line Items] | ||||||
Acquisition of F&M Bancshares, Inc. | $ 4,312 |
Note 4 - Securities (Details)
Note 4 - Securities (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | |
Investments, Debt and Equity Securities [Abstract] | |||
Proceeds from Sale of Available-for-sale Securities | $ 15,000,000 | $ 14,748,000 | $ 0 |
Available-for-sale Securities, Gross Realized Gain (Loss) | $ 0 |
Note 4 - Securities (Details) -
Note 4 - Securities (Details) - Amortized Cost and Fair Value of Investment Securities - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available for Sale | ||
Available for sale securities, amortized cost | $ 152,517 | $ 84,130 |
Available for sale securities, gross unrealized gains | 2,474 | 1,218 |
Available for sale securities, gross unrealized losses | (445) | (386) |
Available for sale securities, fair value | 154,546 | 84,962 |
US Government Agencies Debt Securities [Member] | ||
Available for Sale | ||
Available for sale securities, amortized cost | 8,658 | 14,080 |
Available for sale securities, gross unrealized gains | 466 | 442 |
Available for sale securities, gross unrealized losses | (45) | |
Available for sale securities, fair value | 9,124 | 14,477 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for Sale | ||
Available for sale securities, amortized cost | 110,810 | 35,272 |
Available for sale securities, gross unrealized gains | 1,455 | 283 |
Available for sale securities, gross unrealized losses | (203) | (74) |
Available for sale securities, fair value | 112,062 | 35,481 |
Agency Mortgage-backed Pass-through Securities [Member] | ||
Available for Sale | ||
Available for sale securities, amortized cost | 30,779 | 32,191 |
Available for sale securities, gross unrealized gains | 530 | 472 |
Available for sale securities, gross unrealized losses | (182) | (188) |
Available for sale securities, fair value | 31,127 | 32,475 |
Collateralized Mortgage Obligations [Member] | ||
Available for Sale | ||
Available for sale securities, amortized cost | 2,270 | 2,587 |
Available for sale securities, gross unrealized gains | 23 | 21 |
Available for sale securities, gross unrealized losses | (60) | (79) |
Available for sale securities, fair value | $ 2,233 | $ 2,529 |
Note 4 - Securities (Details)45
Note 4 - Securities (Details) - Securities in a Continuous Unrealized Loss Position - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available for Sale | ||
Securities in a continuous unrealized loss position, less than 12 months, estimated fair value | $ 31,657 | $ 17,442 |
Securities in a continuous unrealized loss position, less than 12 months, unrealized losses | (248) | (78) |
Securities in a continuous unrealized loss position, more than 12 months, estimated fair value | 7,378 | 17,413 |
Securities in a continuous unrealized loss position, more than 12 months, unrealized losses | (197) | (308) |
Securities in a continuous unrealized loss position, fair value | 39,035 | 34,855 |
Securities in a continuous unrealized loss position, unrealized losses | (445) | (386) |
US Government Agencies Debt Securities [Member] | ||
Available for Sale | ||
Securities in a continuous unrealized loss position, less than 12 months, estimated fair value | 2,842 | |
Securities in a continuous unrealized loss position, less than 12 months, unrealized losses | (3) | |
Securities in a continuous unrealized loss position, more than 12 months, estimated fair value | 1,748 | |
Securities in a continuous unrealized loss position, more than 12 months, unrealized losses | (42) | |
Securities in a continuous unrealized loss position, fair value | 4,590 | |
Securities in a continuous unrealized loss position, unrealized losses | (45) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for Sale | ||
Securities in a continuous unrealized loss position, less than 12 months, estimated fair value | 24,953 | 14,102 |
Securities in a continuous unrealized loss position, less than 12 months, unrealized losses | (202) | (74) |
Securities in a continuous unrealized loss position, more than 12 months, estimated fair value | 115 | |
Securities in a continuous unrealized loss position, more than 12 months, unrealized losses | (1) | |
Securities in a continuous unrealized loss position, fair value | 25,068 | 14,102 |
Securities in a continuous unrealized loss position, unrealized losses | (203) | (74) |
Agency Mortgage-backed Pass-through Securities [Member] | ||
Available for Sale | ||
Securities in a continuous unrealized loss position, less than 12 months, estimated fair value | 5,980 | 498 |
Securities in a continuous unrealized loss position, less than 12 months, unrealized losses | (38) | (1) |
Securities in a continuous unrealized loss position, more than 12 months, estimated fair value | 6,530 | 14,058 |
Securities in a continuous unrealized loss position, more than 12 months, unrealized losses | (144) | (187) |
Securities in a continuous unrealized loss position, fair value | 12,510 | 14,556 |
Securities in a continuous unrealized loss position, unrealized losses | (182) | (188) |
Collateralized Mortgage Obligations [Member] | ||
Available for Sale | ||
Securities in a continuous unrealized loss position, less than 12 months, estimated fair value | 724 | |
Securities in a continuous unrealized loss position, less than 12 months, unrealized losses | (8) | |
Securities in a continuous unrealized loss position, more than 12 months, estimated fair value | 733 | 1,607 |
Securities in a continuous unrealized loss position, more than 12 months, unrealized losses | (52) | (79) |
Securities in a continuous unrealized loss position, fair value | 1,457 | 1,607 |
Securities in a continuous unrealized loss position, unrealized losses | $ (60) | $ (79) |
Note 4 - Securities (Details)46
Note 4 - Securities (Details) - Amortized Cost and Fair Value of Investment Securities by Contractual Maturity - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Amortized Cost and Fair Value of Investment Securities by Contractual Maturity [Abstract] | ||
Due in one year or less | $ 8,026 | |
Due in one year or less | 8,048 | |
Due after one year through five years | 15,706 | |
Due after one year through five years | 15,884 | |
Due after five years through ten years | 27,278 | |
Due after five years through ten years | 27,837 | |
Due after ten years | 68,458 | |
Due after ten years | 69,417 | |
Subtotal | 119,468 | |
Subtotal | 121,186 | |
Agency mortgage-backed pass through securities and agency collateralized mortgage obligations | 33,049 | |
Agency mortgage-backed pass through securities and agency collateralized mortgage obligations | 33,360 | |
Total | 152,517 | |
Total | $ 154,546 | $ 84,962 |
Note 5 - Loans and Allowance 47
Note 5 - Loans and Allowance for Loan Losses (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Jan. 01, 2015 | ||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Number of Branches at Which Loans are Held for Sale | 2 | 2 | |||||||
Loans Receivable Held-for-sale, Amount | [1] | $ 27,004,000 | $ 27,004,000 | ||||||
Financing Receivable, Recorded Investment, Past Due | 1,175,000 | 1,175,000 | |||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [2] | 5,687,000 | 5,687,000 | ||||||
Impaired Financing Receivable, Average Recorded Investment | 6,900,000 | $ 5,600,000 | 6,666,000 | $ 5,800,000 | $ 9,123,000 | ||||
Impaired Financing Receivable, Interest Income, Accrual Method | 74,000 | $ 105,000 | 260,000 | $ 285,000 | 405,000 | ||||
Financing Receivable, Modifications, Recorded Investment | 3,700,000 | 3,700,000 | 1,700,000 | ||||||
Financing Receivable, Modifications, Increase in Period | 2,800,000 | ||||||||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 591,000 | 591,000 | 205,000 | ||||||
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | $ 0 | 0 | ||||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | ||||||||
Commercial Portfolio Segment [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Past Due | 349,000 | $ 349,000 | 274,000 | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,476,000 | [2] | 3,476,000 | [2] | 1,527,000 | ||||
Impaired Financing Receivable, Average Recorded Investment | 4,285,000 | 3,539,000 | |||||||
Impaired Financing Receivable, Interest Income, Accrual Method | 155,000 | 211,000 | |||||||
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Past Due | 393,000 | 393,000 | |||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,783,000 | [2] | 1,783,000 | [2] | 1,653,000 | ||||
Impaired Financing Receivable, Average Recorded Investment | 1,867,000 | 2,356,000 | |||||||
Impaired Financing Receivable, Interest Income, Accrual Method | 86,000 | 194,000 | |||||||
Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Past Due | 188,000 | 188,000 | |||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [2] | 341,000 | 341,000 | ||||||
Impaired Financing Receivable, Average Recorded Investment | 382,000 | 42,000 | |||||||
Impaired Financing Receivable, Interest Income, Accrual Method | 12,000 | ||||||||
Consumer Portfolio Segment [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Past Due | 112,000 | 112,000 | 46,000 | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 87,000 | [2] | 87,000 | [2] | 4,000 | ||||
Impaired Financing Receivable, Average Recorded Investment | 132,000 | 3,186,000 | |||||||
Impaired Financing Receivable, Interest Income, Accrual Method | 7,000 | ||||||||
Former F&M Bancshares Locations [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,200,000 | 1,200,000 | |||||||
Financing Receivables, 30 to 89 Days Past Due [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Past Due | [3] | 1,175,000 | 1,175,000 | ||||||
Financing Receivables, 30 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Past Due | 349,000 | [3] | 349,000 | [3] | 274,000 | ||||
Financing Receivables, 30 to 89 Days Past Due [Member] | Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Past Due | [3] | 393,000 | 393,000 | ||||||
Financing Receivables, 30 to 89 Days Past Due [Member] | Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Past Due | [3] | 188,000 | 188,000 | ||||||
Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Past Due | 112,000 | [3] | 112,000 | [3] | $ 46,000 | ||||
Financing Receivables, 30 to 89 Days Past Due [Member] | Former F&M Bancshares Locations [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Financing Receivable, Recorded Investment, Past Due | $ 240,000 | $ 240,000 | |||||||
Central Texas [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Number of Branches at Which Loans are Held for Sale | 2 | 2 | |||||||
Former F&M Bancshares Locations [Member] | Central Texas [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Number of Branches at Which Loans are Held for Sale | 2 | ||||||||
Former F&M Bancshares Locations [Member] | Central Texas [Member] | Commercial Portfolio Segment [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Loans Receivable Held-for-sale, Amount | $ 12,200,000 | $ 12,200,000 | |||||||
Former F&M Bancshares Locations [Member] | Central Texas [Member] | Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Loans Receivable Held-for-sale, Amount | 11,600,000 | 11,600,000 | |||||||
Former F&M Bancshares Locations [Member] | Central Texas [Member] | Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Loans Receivable Held-for-sale, Amount | 2,400,000 | 2,400,000 | |||||||
Former F&M Bancshares Locations [Member] | Central Texas [Member] | Consumer Portfolio Segment [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Loans Receivable Held-for-sale, Amount | $ 741,000 | $ 741,000 | |||||||
Minimum [Member] | Residential Real Estate [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Mortgage Promissory Notes, Warehouse Time | 10 days | ||||||||
Minimum [Member] | Commercial Real Estate [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Mortgage Promissory Notes, Warehouse Time | 40 days | ||||||||
Maximum [Member] | Residential Real Estate [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Mortgage Promissory Notes, Warehouse Time | 20 days | ||||||||
Maximum [Member] | Commercial Real Estate [Member] | |||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||||||
Mortgage Promissory Notes, Warehouse Time | 50 days | ||||||||
[1] | Consists of loans at two former F&M locations acquired on January 1, 2015. On November 3, 2015, the Company entered into an agreement to sell these former F&M branches and their related assets located in Central Texas. As of September 30, 2015, loans held for sale consists of $12.2 million of commercial and industrial loans, $11.6 million of commercial real estate (including multi-family residential) loans, $2.4 million of 1-4 family residential (including home equity) loans and $741 thousand of consumer and other loans. Loans held for sale are carried at lower of aggregate cost or fair value. | ||||||||
[2] | Includes $1.2 million of loans acquired from F&M. | ||||||||
[3] | Includes $240 thousand of loans acquired from F&M. |
Note 5 - Loans and Allowance 48
Note 5 - Loans and Allowance for Loan Losses (Details) - Loan Portfolio - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans held for sale (1) | [1] | $ 27,004 | |||||
Loans held for investment | 1,589,412 | $ 1,002,054 | |||||
Total loans | 1,616,416 | 1,002,054 | |||||
Allowance for loan losses | (11,204) | $ (10,312) | (8,246) | $ (7,740) | $ (7,462) | $ (6,655) | |
Loans, net | 1,605,212 | 993,808 | |||||
Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans held for investment | 367,341 | 242,034 | |||||
Allowance for loan losses | (3,091) | (2,905) | (2,334) | (2,333) | (2,083) | (2,729) | |
Mortgage Warehouse Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans held for investment | [2] | 65,928 | 28,329 | ||||
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans held for investment | 710,857 | 429,986 | |||||
Real Estate Porfolio Segment [Member] | Commercial Real Estate Construction and Land Development [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans held for investment | 151,369 | 85,484 | |||||
Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans held for investment | 185,473 | 135,127 | |||||
Real Estate Porfolio Segment [Member] | Residential Construction [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans held for investment | 95,212 | 72,402 | |||||
Consumer Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans held for investment | 13,232 | 8,692 | |||||
Allowance for loan losses | $ (71) | $ (67) | $ (52) | $ (59) | $ (52) | $ (238) | |
[1] | Consists of loans at two former F&M locations acquired on January 1, 2015. On November 3, 2015, the Company entered into an agreement to sell these former F&M branches and their related assets located in Central Texas. As of September 30, 2015, loans held for sale consists of $12.2 million of commercial and industrial loans, $11.6 million of commercial real estate (including multi-family residential) loans, $2.4 million of 1-4 family residential (including home equity) loans and $741 thousand of consumer and other loans. Loans held for sale are carried at lower of aggregate cost or fair value. | ||||||
[2] | Mortgage warehouse was previously reported within the Commercial and Industrial loan portfolio. These loans are to unaffiliated mortgage loan originators collateralized by mortgage promissory notes which are segregated in the Company's mortgage warehouse portfolio. These promissory notes are further secured by real estate in a manner consistent with traditional mortgage warehouse lending whereby the promissory notes are warehoused under a revolving credit facility to allow for the end investor (or purchaser) of the note to receive a complete loan package and remit funds to the bank. For mortgage promissory notes secured by residential property, the warehouse time is normally 10 to 20 days. For mortgage promissory notes secured by commercial property, the warehouse time is normally 40 to 50 days. The funded balance of the mortgage warehouse portfolio can have significant fluctuation based upon market demand for the product, level of home sales and refinancing activity, market interest rates, and velocity of end investor processing times. |
Note 5 - Loans and Allowance 49
Note 5 - Loans and Allowance for Loan Losses (Details) - Aging Analysis of the Recorded Investment in Past Due Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans held for sale | $ 157 | |||
Loans held for sale | [1] | 498 | ||
Loans held for sale | 26,349 | |||
Loans held for sale | [2] | 27,004 | ||
Loans past due and still accruing, held for investment | 1,175 | |||
Nonaccrual loans held for investment | [1] | 5,687 | ||
Current loans held for investment | 1,582,550 | |||
Total loans held for investment | 1,589,412 | $ 1,002,054 | ||
Real estate: | ||||
Loans past due and still accruing, including both held for sale and held for investment | 1,332 | 733 | ||
Nonaccrual loans, including both held for sale and held for investment | 6,185 | [1] | 3,184 | |
Current loans, including both held for sale and held for investment | 1,608,899 | 998,137 | ||
Total loans, including both held for sale and held for investment | 1,616,416 | 1,002,054 | ||
Financing Receivables, 30 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans held for sale | [3] | 157 | ||
Loans past due and still accruing, held for investment | [3] | 1,175 | ||
Real estate: | ||||
Loans past due and still accruing, including both held for sale and held for investment | 1,332 | [3] | 733 | |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | 349 | 274 | ||
Nonaccrual loans held for investment | 3,476 | [1] | 1,527 | |
Current loans held for investment | 363,516 | 240,233 | ||
Total loans held for investment | 367,341 | 242,034 | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | 349 | [3] | 274 | |
Mortgage Warehouse Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Current loans held for investment | 65,928 | 28,329 | ||
Total loans held for investment | [4] | 65,928 | 28,329 | |
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | 393 | |||
Nonaccrual loans held for investment | 1,783 | [1] | 1,653 | |
Current loans held for investment | 708,681 | 428,333 | ||
Total loans held for investment | 710,857 | 429,986 | ||
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | [3] | 393 | ||
Real Estate Porfolio Segment [Member] | Commercial Real Estate Construction and Land Development [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | $ 129 | |||
Nonaccrual loans held for investment | [1] | |||
Current loans held for investment | $ 151,240 | 85,484 | ||
Total loans held for investment | 151,369 | 85,484 | ||
Real Estate Porfolio Segment [Member] | Commercial Real Estate Construction and Land Development [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | [3] | 129 | ||
Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | 188 | |||
Nonaccrual loans held for investment | [1] | 341 | ||
Current loans held for investment | 184,944 | 135,127 | ||
Total loans held for investment | 185,473 | 135,127 | ||
Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | [3] | 188 | ||
Real Estate Porfolio Segment [Member] | Residential Construction [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | $ 4 | 413 | ||
Nonaccrual loans held for investment | [1] | |||
Current loans held for investment | $ 95,208 | 71,989 | ||
Total loans held for investment | 95,212 | 72,402 | ||
Real Estate Porfolio Segment [Member] | Residential Construction [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | 4 | [3] | 413 | |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | 112 | 46 | ||
Nonaccrual loans held for investment | 87 | [1] | 4 | |
Current loans held for investment | 13,033 | 8,642 | ||
Total loans held for investment | 13,232 | 8,692 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans past due and still accruing, held for investment | $ 112 | [3] | $ 46 | |
[1] | Includes $1.2 million of loans acquired from F&M. | |||
[2] | Consists of loans at two former F&M locations acquired on January 1, 2015. On November 3, 2015, the Company entered into an agreement to sell these former F&M branches and their related assets located in Central Texas. As of September 30, 2015, loans held for sale consists of $12.2 million of commercial and industrial loans, $11.6 million of commercial real estate (including multi-family residential) loans, $2.4 million of 1-4 family residential (including home equity) loans and $741 thousand of consumer and other loans. Loans held for sale are carried at lower of aggregate cost or fair value. | |||
[3] | Includes $240 thousand of loans acquired from F&M. | |||
[4] | Mortgage warehouse was previously reported within the Commercial and Industrial loan portfolio. These loans are to unaffiliated mortgage loan originators collateralized by mortgage promissory notes which are segregated in the Company's mortgage warehouse portfolio. These promissory notes are further secured by real estate in a manner consistent with traditional mortgage warehouse lending whereby the promissory notes are warehoused under a revolving credit facility to allow for the end investor (or purchaser) of the note to receive a complete loan package and remit funds to the bank. For mortgage promissory notes secured by residential property, the warehouse time is normally 10 to 20 days. For mortgage promissory notes secured by commercial property, the warehouse time is normally 40 to 50 days. The funded balance of the mortgage warehouse portfolio can have significant fluctuation based upon market demand for the product, level of home sales and refinancing activity, market interest rates, and velocity of end investor processing times. |
Note 5 - Loans and Allowance 50
Note 5 - Loans and Allowance for Loan Losses (Details) - Impaired Loans by Loan Class - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
With no related allowance recorded: | |||||
Recorded investment with no related allowance recorded | $ 3,402 | $ 3,402 | $ 3,893 | ||
Unpaid principal balance with no related allowance recorded | 3,724 | 3,724 | 3,948 | ||
Average recorded investment with no related allowance recorded | 3,836 | 4,019 | |||
Interest income recognized with no related allowance recorded | 186 | 265 | |||
With an allowance recorded: | |||||
Recorded investment with an allowance recorded | 2,791 | 2,791 | 1,986 | ||
Unpaid principal balance with an allowance recorded | 2,791 | 2,791 | 1,986 | ||
Related allowance | 700 | 700 | 512 | ||
Average recorded investment with an allowance recorded | 2,830 | 5,104 | |||
Interest income recognized with an allowance recorded | 74 | 140 | |||
Total: | |||||
Recorded investment | 6,193 | 6,193 | 5,879 | ||
Unpaid principal balance | 6,515 | 6,515 | 5,934 | ||
Related allowance | 700 | 700 | 512 | ||
Average recorded investment | 6,900 | $ 5,600 | 6,666 | $ 5,800 | 9,123 |
Interest income recognized | 74 | $ 105 | 260 | $ 285 | 405 |
Commercial Portfolio Segment [Member] | |||||
With no related allowance recorded: | |||||
Recorded investment with no related allowance recorded | 1,950 | 1,950 | 999 | ||
Unpaid principal balance with no related allowance recorded | 2,272 | 2,272 | 1,054 | ||
Average recorded investment with no related allowance recorded | 2,315 | 1,292 | |||
Interest income recognized with no related allowance recorded | 102 | 83 | |||
With an allowance recorded: | |||||
Recorded investment with an allowance recorded | 1,907 | 1,907 | 1,802 | ||
Unpaid principal balance with an allowance recorded | 1,907 | 1,907 | 1,802 | ||
Related allowance | 604 | 604 | 501 | ||
Average recorded investment with an allowance recorded | 1,970 | 2,247 | |||
Interest income recognized with an allowance recorded | 53 | 128 | |||
Total: | |||||
Recorded investment | 3,857 | 3,857 | 2,801 | ||
Unpaid principal balance | 4,179 | 4,179 | 2,856 | ||
Related allowance | 604 | 604 | 501 | ||
Average recorded investment | 4,285 | 3,539 | |||
Interest income recognized | 155 | 211 | |||
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | |||||
With no related allowance recorded: | |||||
Recorded investment with no related allowance recorded | 972 | 972 | 2,894 | ||
Unpaid principal balance with no related allowance recorded | 972 | 972 | 2,894 | ||
Average recorded investment with no related allowance recorded | 1,029 | 1,641 | |||
Interest income recognized with no related allowance recorded | 66 | 182 | |||
With an allowance recorded: | |||||
Recorded investment with an allowance recorded | 864 | 864 | 180 | ||
Unpaid principal balance with an allowance recorded | 864 | 864 | 180 | ||
Related allowance | 90 | 90 | 10 | ||
Average recorded investment with an allowance recorded | 838 | 715 | |||
Interest income recognized with an allowance recorded | 20 | 12 | |||
Total: | |||||
Recorded investment | 1,836 | 1,836 | 3,074 | ||
Unpaid principal balance | 1,836 | 1,836 | 3,074 | ||
Related allowance | 90 | 90 | 10 | ||
Average recorded investment | 1,867 | 2,356 | |||
Interest income recognized | 86 | 194 | |||
Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | |||||
With no related allowance recorded: | |||||
Recorded investment with no related allowance recorded | 379 | 379 | |||
Unpaid principal balance with no related allowance recorded | 379 | 379 | |||
Average recorded investment with no related allowance recorded | 382 | 2 | |||
Interest income recognized with no related allowance recorded | 12 | ||||
With an allowance recorded: | |||||
Average recorded investment with an allowance recorded | 40 | ||||
Total: | |||||
Recorded investment | 379 | 379 | |||
Unpaid principal balance | 379 | 379 | |||
Average recorded investment | 382 | 42 | |||
Interest income recognized | 12 | ||||
Consumer Portfolio Segment [Member] | |||||
With no related allowance recorded: | |||||
Recorded investment with no related allowance recorded | 101 | 101 | |||
Unpaid principal balance with no related allowance recorded | 101 | 101 | |||
Average recorded investment with no related allowance recorded | 110 | 1,084 | |||
Interest income recognized with no related allowance recorded | 6 | ||||
With an allowance recorded: | |||||
Recorded investment with an allowance recorded | 20 | 20 | 4 | ||
Unpaid principal balance with an allowance recorded | 20 | 20 | 4 | ||
Related allowance | 6 | 6 | 1 | ||
Average recorded investment with an allowance recorded | 22 | 2,102 | |||
Interest income recognized with an allowance recorded | 1 | ||||
Total: | |||||
Recorded investment | 121 | 121 | 4 | ||
Unpaid principal balance | 121 | 121 | 4 | ||
Related allowance | $ 6 | 6 | 1 | ||
Average recorded investment | 132 | $ 3,186 | |||
Interest income recognized | $ 7 |
Note 5 - Loans and Allowance 51
Note 5 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for sale | [1] | $ 27,004 | |
Loans held for investment | 1,589,412 | $ 1,002,054 | |
Total loans | 1,616,416 | 1,002,054 | |
Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for sale | 25,806 | ||
Loans held for investment | 1,550,082 | 966,735 | |
Total loans | 1,575,888 | ||
Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for sale | 25 | ||
Loans held for investment | 17,233 | 15,735 | |
Total loans | 17,258 | ||
Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for sale | 26 | ||
Loans held for investment | 2,866 | 1,574 | |
Total loans | 2,892 | ||
Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for sale | 1,147 | ||
Loans held for investment | 19,231 | 18,010 | |
Total loans | 20,378 | ||
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 367,341 | 242,034 | |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 355,053 | 235,006 | |
Commercial Portfolio Segment [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 5,173 | 1,817 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 1,810 | 291 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 5,305 | 4,920 | |
Mortgage Warehouse Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | [2] | 65,928 | 28,329 |
Mortgage Warehouse Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 65,928 | 28,329 | |
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 710,857 | 429,986 | |
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 690,617 | 408,117 | |
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 7,960 | 9,365 | |
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 819 | ||
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 11,461 | 12,504 | |
Real Estate Porfolio Segment [Member] | Commercial Real Estate Construction and Land Development [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 151,369 | 85,484 | |
Real Estate Porfolio Segment [Member] | Commercial Real Estate Construction and Land Development [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 149,167 | 82,643 | |
Real Estate Porfolio Segment [Member] | Commercial Real Estate Construction and Land Development [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 2,202 | 2,841 | |
Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 185,473 | 135,127 | |
Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 181,053 | 132,979 | |
Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 1,824 | 1,677 | |
Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 237 | 83 | |
Real Estate Porfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 2,359 | 388 | |
Real Estate Porfolio Segment [Member] | Residential Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 95,212 | 72,402 | |
Real Estate Porfolio Segment [Member] | Residential Construction [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 95,212 | 71,025 | |
Real Estate Porfolio Segment [Member] | Residential Construction [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 1,200 | ||
Real Estate Porfolio Segment [Member] | Residential Construction [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 177 | ||
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 13,232 | 8,692 | |
Consumer Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 13,052 | 8,636 | |
Consumer Portfolio Segment [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | 74 | 35 | |
Consumer Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans held for investment | $ 106 | $ 21 | |
[1] | Consists of loans at two former F&M locations acquired on January 1, 2015. On November 3, 2015, the Company entered into an agreement to sell these former F&M branches and their related assets located in Central Texas. As of September 30, 2015, loans held for sale consists of $12.2 million of commercial and industrial loans, $11.6 million of commercial real estate (including multi-family residential) loans, $2.4 million of 1-4 family residential (including home equity) loans and $741 thousand of consumer and other loans. Loans held for sale are carried at lower of aggregate cost or fair value. | ||
[2] | Mortgage warehouse was previously reported within the Commercial and Industrial loan portfolio. These loans are to unaffiliated mortgage loan originators collateralized by mortgage promissory notes which are segregated in the Company's mortgage warehouse portfolio. These promissory notes are further secured by real estate in a manner consistent with traditional mortgage warehouse lending whereby the promissory notes are warehoused under a revolving credit facility to allow for the end investor (or purchaser) of the note to receive a complete loan package and remit funds to the bank. For mortgage promissory notes secured by residential property, the warehouse time is normally 10 to 20 days. For mortgage promissory notes secured by commercial property, the warehouse time is normally 40 to 50 days. The funded balance of the mortgage warehouse portfolio can have significant fluctuation based upon market demand for the product, level of home sales and refinancing activity, market interest rates, and velocity of end investor processing times. |
Note 5 - Loans and Allowance 52
Note 5 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | ||
Three Months Ended | |||||||
Balance, beginning of period | $ 10,312 | $ 7,462 | $ 8,246 | $ 6,655 | |||
Provision for loan losses | 1,530 | 750 | 3,633 | 1,650 | |||
Charge-offs | (649) | (481) | (749) | (595) | |||
Recoveries | 11 | 9 | 74 | 30 | |||
Net charge-offs | (638) | (472) | (675) | (565) | |||
Balance, end of period | 11,204 | 7,740 | 11,204 | 7,740 | |||
Allowance for loan losses related to: | |||||||
Allowance for loan and lease losses, individually evaluated for impairment | $ 700 | $ 512 | |||||
Allowance for loan and lease losses, collectively evaluated for impairment | 10,504 | 7,734 | |||||
Total allowance for loan losses | 11,204 | 7,462 | 11,204 | 7,740 | 11,204 | 8,246 | |
Recorded investment in loans: | |||||||
Loans individually evaluated for impairment | 6,193 | 5,879 | |||||
Loans collectively evaluated for impairment | 1,583,219 | 996,175 | |||||
Total loans evaluated for impairment | 1,589,412 | 1,002,054 | |||||
Commercial Portfolio Segment [Member] | |||||||
Three Months Ended | |||||||
Balance, beginning of period | 2,905 | 2,083 | 2,334 | 2,729 | |||
Provision for loan losses | 820 | 722 | 1,434 | 130 | |||
Charge-offs | (641) | (481) | (723) | (555) | |||
Recoveries | 7 | 9 | 46 | 29 | |||
Net charge-offs | (634) | (472) | (677) | (526) | |||
Balance, end of period | 3,091 | 2,333 | 3,091 | 2,333 | |||
Allowance for loan losses related to: | |||||||
Allowance for loan and lease losses, individually evaluated for impairment | 604 | 501 | |||||
Allowance for loan and lease losses, collectively evaluated for impairment | 2,487 | 1,833 | |||||
Total allowance for loan losses | 2,905 | 2,083 | 3,091 | 2,333 | 3,091 | 2,334 | |
Recorded investment in loans: | |||||||
Loans individually evaluated for impairment | 3,857 | 2,801 | |||||
Loans collectively evaluated for impairment | 363,484 | 239,233 | |||||
Total loans evaluated for impairment | 367,341 | 242,034 | |||||
Mortgage Warehouse Portfolio Segment [Member] | |||||||
Recorded investment in loans: | |||||||
Loans collectively evaluated for impairment | 65,928 | 28,329 | |||||
Total loans evaluated for impairment | [1] | 65,928 | 28,329 | ||||
Commercial Real Estate Portfolio Segment [Member] | Includes Multi-family Residential but Excludes Construction and Land Development [Member] | |||||||
Three Months Ended | |||||||
Balance, beginning of period | 4,533 | 3,396 | 3,799 | 2,175 | |||
Provision for loan losses | 434 | 97 | 1,168 | 1,318 | |||
Balance, end of period | 4,967 | 3,493 | 4,967 | 3,493 | |||
Allowance for loan losses related to: | |||||||
Allowance for loan and lease losses, individually evaluated for impairment | 90 | 10 | |||||
Allowance for loan and lease losses, collectively evaluated for impairment | 4,877 | 3,789 | |||||
Total allowance for loan losses | 4,533 | 3,396 | 4,967 | 3,493 | 4,967 | 3,799 | |
Recorded investment in loans: | |||||||
Loans individually evaluated for impairment | 1,836 | 3,074 | |||||
Loans collectively evaluated for impairment | 709,021 | 426,912 | |||||
Total loans evaluated for impairment | 710,857 | 429,986 | |||||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||||
Three Months Ended | |||||||
Balance, beginning of period | 842 | 615 | 578 | 357 | |||
Provision for loan losses | 173 | (116) | 437 | 142 | |||
Balance, end of period | 1,015 | 499 | 1,015 | 499 | |||
Allowance for loan losses related to: | |||||||
Allowance for loan and lease losses, collectively evaluated for impairment | 1,015 | 578 | |||||
Total allowance for loan losses | 842 | 615 | 1,015 | 499 | 1,015 | 578 | |
Recorded investment in loans: | |||||||
Loans collectively evaluated for impairment | 151,369 | 85,484 | |||||
Total loans evaluated for impairment | 151,369 | 85,484 | |||||
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||||
Three Months Ended | |||||||
Balance, beginning of period | 710 | 441 | 475 | 598 | |||
Provision for loan losses | 25 | (43) | 238 | (200) | |||
Recoveries | 2 | 24 | |||||
Net charge-offs | 2 | 24 | |||||
Balance, end of period | 737 | 398 | 737 | 398 | |||
Allowance for loan losses related to: | |||||||
Allowance for loan and lease losses, collectively evaluated for impairment | 737 | 475 | |||||
Total allowance for loan losses | 710 | 441 | 737 | 398 | 737 | 475 | |
Recorded investment in loans: | |||||||
Loans collectively evaluated for impairment | 95,212 | 72,402 | |||||
Total loans evaluated for impairment | 95,212 | 72,402 | |||||
Residential Portfolio Segment [Member] | 1-4 Family Residential Including Home Equity [Member] | |||||||
Three Months Ended | |||||||
Balance, beginning of period | 1,255 | 875 | 1,008 | 558 | |||
Provision for loan losses | 68 | 83 | 315 | 400 | |||
Balance, end of period | 1,323 | 958 | 1,323 | 958 | |||
Allowance for loan losses related to: | |||||||
Allowance for loan and lease losses, collectively evaluated for impairment | 1,323 | 1,008 | |||||
Total allowance for loan losses | 1,255 | 875 | 1,323 | 958 | 1,323 | 1,008 | |
Recorded investment in loans: | |||||||
Loans individually evaluated for impairment | 379 | ||||||
Loans collectively evaluated for impairment | 185,094 | 135,127 | |||||
Total loans evaluated for impairment | 185,473 | 135,127 | |||||
Consumer Portfolio Segment [Member] | |||||||
Three Months Ended | |||||||
Balance, beginning of period | 67 | 52 | 52 | 238 | |||
Provision for loan losses | 10 | 7 | 41 | (140) | |||
Charge-offs | (8) | (26) | (40) | ||||
Recoveries | 2 | 4 | 1 | ||||
Net charge-offs | (6) | (22) | (39) | ||||
Balance, end of period | 71 | 59 | 71 | 59 | |||
Allowance for loan losses related to: | |||||||
Allowance for loan and lease losses, individually evaluated for impairment | 6 | 1 | |||||
Allowance for loan and lease losses, collectively evaluated for impairment | 65 | 51 | |||||
Total allowance for loan losses | $ 67 | $ 52 | $ 71 | $ 59 | 71 | 52 | |
Recorded investment in loans: | |||||||
Loans individually evaluated for impairment | 121 | 4 | |||||
Loans collectively evaluated for impairment | 13,111 | 8,688 | |||||
Total loans evaluated for impairment | $ 13,232 | $ 8,692 | |||||
[1] | Mortgage warehouse was previously reported within the Commercial and Industrial loan portfolio. These loans are to unaffiliated mortgage loan originators collateralized by mortgage promissory notes which are segregated in the Company's mortgage warehouse portfolio. These promissory notes are further secured by real estate in a manner consistent with traditional mortgage warehouse lending whereby the promissory notes are warehoused under a revolving credit facility to allow for the end investor (or purchaser) of the note to receive a complete loan package and remit funds to the bank. For mortgage promissory notes secured by residential property, the warehouse time is normally 10 to 20 days. For mortgage promissory notes secured by commercial property, the warehouse time is normally 40 to 50 days. The funded balance of the mortgage warehouse portfolio can have significant fluctuation based upon market demand for the product, level of home sales and refinancing activity, market interest rates, and velocity of end investor processing times. |
Note 6 - Fair Value (Details)
Note 6 - Fair Value (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Note 6 - Fair Value (Details) [Line Items] | ||
Liabilities, Fair Value Disclosure, Recurring | $ 0 | $ 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,791,000 | 1,986,000 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,791,000 | 1,986,000 |
Impaired Financing Receivable, Related Allowance | 700,000 | 512,000 |
Fair Value, Inputs, Level 3 [Member] | ||
Note 6 - Fair Value (Details) [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,100,000 | 1,500,000 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,800,000 | 2,000,000 |
Impaired Financing Receivable, Related Allowance | $ 700,000 | $ 512,000 |
Note 6 - Fair Value (Details) -
Note 6 - Fair Value (Details) - Carrying Amounts and Estimated Fair Values of Financial Instruments - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and cash equivalents | $ 144,590 | $ 167,540 | $ 159,737 | $ 213,076 | |
Cash and cash equivalents, fair value | 144,590 | 167,540 | |||
Available-for-sale securities | 154,546 | $ 84,962 | |||
Loans held for sale | [1] | 27,004 | |||
Loans held for sale | 27,004 | ||||
Loans held for investment, net of allowance | 1,578,208 | $ 993,808 | |||
Loans held for investment, net of allowance, fair value | 1,584,059 | 998,575 | |||
Accrued interest receivable | 5,213 | 3,285 | |||
Accrued interest receivable, fair value | 5,213 | 3,285 | |||
Financial liabilities | |||||
Deposits | 1,656,548 | 1,133,684 | |||
Deposits, fair value | 1,658,643 | 1,133,684 | |||
Accrued interest payable | 150 | 43 | |||
Accrued interest payable, fair value | 150 | 43 | |||
Short-term borrowings | 115,000 | ||||
Short-term borrowings | 115,000 | ||||
Subordinated debentures | 9,062 | ||||
Subordinated debentures | 9,062 | ||||
Other borrowed funds | 28,069 | 10,069 | |||
Other borrowed funds, fair value | 28,069 | 10,069 | |||
Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and cash equivalents, fair value | 144,590 | 167,540 | |||
Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Available-for-sale securities | 154,546 | 84,962 | |||
Accrued interest receivable, fair value | 968 | 473 | |||
Financial liabilities | |||||
Accrued interest payable, fair value | 65 | ||||
Short-term borrowings | 115,000 | ||||
Subordinated debentures | 9,062 | ||||
Other borrowed funds, fair value | 28,069 | 10,069 | |||
Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Loans held for sale | 27,004 | ||||
Loans held for investment, net of allowance, fair value | 1,584,059 | 998,575 | |||
Accrued interest receivable, fair value | 4,245 | 2,812 | |||
Financial liabilities | |||||
Deposits, fair value | 1,658,643 | 1,133,684 | |||
Accrued interest payable, fair value | $ 85 | $ 43 | |||
[1] | Consists of loans at two former F&M locations acquired on January 1, 2015. On November 3, 2015, the Company entered into an agreement to sell these former F&M branches and their related assets located in Central Texas. As of September 30, 2015, loans held for sale consists of $12.2 million of commercial and industrial loans, $11.6 million of commercial real estate (including multi-family residential) loans, $2.4 million of 1-4 family residential (including home equity) loans and $741 thousand of consumer and other loans. Loans held for sale are carried at lower of aggregate cost or fair value. |
Note 6 - Fair Value (Details)55
Note 6 - Fair Value (Details) - Fair Values for Assets Measured at Fair Value on a Recurring Basis - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available for sale securities: | ||
U.S. Government and agency securities | $ 154,546 | $ 84,962 |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities: | ||
U.S. Government and agency securities | 9,124 | 14,477 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities: | ||
U.S. Government and agency securities | 112,062 | 35,481 |
Agency Mortgage-backed Pass-through Securities [Member] | ||
Available for sale securities: | ||
U.S. Government and agency securities | 31,127 | 32,475 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale securities: | ||
U.S. Government and agency securities | 2,233 | 2,529 |
Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
U.S. Government and agency securities | 154,546 | 84,962 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Available for sale securities: | ||
U.S. Government and agency securities | 9,124 | 14,477 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities: | ||
U.S. Government and agency securities | 112,062 | 35,481 |
Fair Value, Inputs, Level 2 [Member] | Agency Mortgage-backed Pass-through Securities [Member] | ||
Available for sale securities: | ||
U.S. Government and agency securities | 31,127 | 32,475 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations [Member] | ||
Available for sale securities: | ||
U.S. Government and agency securities | $ 2,233 | $ 2,529 |
Note 6 - Fair Value (Details)56
Note 6 - Fair Value (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Impaired loans: | ||
Impaired loans receivable, fair value | $ 2,091 | $ 1,474 |
Commercial Portfolio Segment [Member] | ||
Impaired loans: | ||
Impaired loans receivable, fair value | 1,303 | 1,301 |
Real Estate Porfolio Segment [Member] | Commercial Real Estate Including Multi-family Residential but Not Construction and Land Development [Member] | ||
Impaired loans: | ||
Impaired loans receivable, fair value | 774 | 170 |
Consumer Portfolio Segment [Member] | ||
Impaired loans: | ||
Impaired loans receivable, fair value | $ 14 | $ 3 |
Note 7 - Deposits (Details)
Note 7 - Deposits (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | ||
Time Deposits, $250,000 or More | $ 140.8 | $ 97 |
Note 7 - Deposits (Details) - T
Note 7 - Deposits (Details) - Time Deposits by Maturity - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Time Deposits, Fiscal Year Maturity [Abstract] | ||
Within one year | $ 382,666 | |
After one but within two years | 93,074 | |
After two but within three years | 38,960 | |
After three but within four years | 16,384 | |
After four but within five years | 16,086 | |
Total | $ 547,170 | $ 392,488 |
Note 8 - Borrowings (Details)
Note 8 - Borrowings (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Note 8 - Borrowings (Details) [Line Items] | |||
Increase (Decrease) in Other Borrowings | $ 18 | $ 10.1 | |
Borrowing Agreement [Member] | Prime Rate [Member] | |||
Note 8 - Borrowings (Details) [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | (0.25%) | ||
Debt Instrument, Interest Rate, Effective Percentage | 3.00% | 3.00% | |
Federal Home Loan Bank of Dallas [Member] | |||
Note 8 - Borrowings (Details) [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 512.1 | $ 512.1 | |
Long-term Line of Credit | 119 | 119 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances | $ 115 | $ 115 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 0.18% | 0.18% | |
Letters of Credit Outstanding, Amount | $ 4 | $ 4 | |
Federal Home Loan Bank of Dallas [Member] | Expire in January 2016 [Member] | |||
Note 8 - Borrowings (Details) [Line Items] | |||
Letters of Credit Outstanding, Amount | 1.5 | 1.5 | |
Federal Home Loan Bank of Dallas [Member] | Expire in August 2016 [Member] | |||
Note 8 - Borrowings (Details) [Line Items] | |||
Letters of Credit Outstanding, Amount | $ 2.5 | $ 2.5 |
Note 8 - Borrowings (Details) -
Note 8 - Borrowings (Details) - Scheduled Principal Maturities $ in Thousands | Sep. 30, 2015USD ($) |
Scheduled Principal Maturities [Abstract] | |
2,015 | $ 2,354 |
2,016 | 4,285 |
2,017 | 4,285 |
2,018 | 4,285 |
2019 and thereafter | 12,860 |
Total | $ 28,069 |
Note 9 - Subordinated Debentu61
Note 9 - Subordinated Debentures (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2015USD ($) | |
Note 9 - Subordinated Debentures (Details) [Line Items] | |
Debentures, Period Over Which the Company May Defer Interest Payments | 5 years |
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 11,341 |
Junior Subordinated Debt [Member] | |
Note 9 - Subordinated Debentures (Details) [Line Items] | |
LIBOR Rate at Period End | 0.3214% |
Note 9 - Subordinated Debentu62
Note 9 - Subordinated Debentures (Details) - Summary of Pertinent Information Related to Junior Subordinated Debentures - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | ||
Subordinated Borrowing [Line Items] | |||
Junior subordinated debentures, trust preferred securities outstanding | |||
Junior subordinated debentures, junior subordinated debt owed to trusts | $ 11,341 | ||
Farmers & Merchants Capital Trust II [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior subordinated debentures, trust preferred securities outstanding | 7,500 | ||
Junior subordinated debentures, junior subordinated debt owed to trusts | $ 7,732 | ||
Farmers & Merchants Capital Trust II [Member] | Junior Subordinated Debt [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior subordinated debentures, issuance date | Nov. 13, 2003 | ||
Junior subordinated debentures, maturity date | [1] | Nov. 8, 2033 | |
Farmers & Merchants Capital Trust II [Member] | Junior Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior subordinated debentures, interest rate | [2] | 3.00% | |
Farmers & Merchants Capital Trust III [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior subordinated debentures, trust preferred securities outstanding | $ 3,500 | ||
Junior subordinated debentures, junior subordinated debt owed to trusts | $ 3,609 | ||
Farmers & Merchants Capital Trust III [Member] | Junior Subordinated Debt [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior subordinated debentures, issuance date | Jun. 30, 2005 | ||
Junior subordinated debentures, maturity date | [1] | Jul. 7, 2035 | |
Farmers & Merchants Capital Trust III [Member] | Junior Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior subordinated debentures, interest rate | [2] | 1.80% | |
[1] | All debentures are currently callable. | ||
[2] | The 3-month LIBOR in effect as of September 30, 2015 was 0.3214%. |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ||||
Income Tax Expense (Benefit) | $ 1,957,000 | $ 1,226,000 | $ 5,809,000 | $ 3,795,000 |
Effective Income Tax Rate Reconciliation, Percent | 31.70% | 37.80% | 33.40% | 36.10% |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 |
Note 11 - Stock Based Compens64
Note 11 - Stock Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Note 11 - Stock Based Compensation (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 1,460,000 | 1,460,000 | ||
Allocated Share-based Compensation Expense | $ 310 | $ 190 | $ 951 | $ 517 |
Share-based Compensation Arrangement by Share-based Payment Award, Option, Cumulative Options Granted Since Inception (in Shares) | 1,112,231 | 1,112,231 | ||
Employee Stock Option [Member] | ||||
Note 11 - Stock Based Compensation (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
Restricted Stock [Member] | ||||
Note 11 - Stock Based Compensation (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 3,983 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $ 22 |
Note 11 - Stock Based Compens65
Note 11 - Stock Based Compensation (Details) - Stock Option Plan Activity - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Stock Option Plan Activity [Abstract] | ||
Options outstanding, December 31, 2014 (in Shares) | 694 | |
Options outstanding, December 31, 2014 | $ 15.60 | |
Options outstanding, December 31, 2014 | 6 years 288 days | 6 years 208 days |
Options outstanding, December 31, 2014 (in Dollars) | $ 4,432 | $ 4,437 |
Options granted (in Shares) | 277 | |
Options granted | $ 22 | |
Options exercised | $ 22 | |
Options forfeited (in Shares) | (24) | |
Options forfeited | $ 22 | |
Options outstanding, September 30, 2015 (in Shares) | 947 | |
Options outstanding, September 30, 2015 | $ 17.32 | |
Options outstanding, September 30, 2015 | 6 years 288 days | 6 years 208 days |
Options outstanding, September 30, 2015 (in Dollars) | $ 4,432 | $ 4,437 |
Options vested and exercisable, September 30, 2015 (in Shares) | 461 | |
Options vested and exercisable, September 30, 2015 | $ 13.38 | |
Options vested and exercisable, September 30, 2015 | 4 years 215 days | |
Options vested and exercisable, September 30, 2015 (in Dollars) | $ 3,972 |
Note 11 - Stock Based Compens66
Note 11 - Stock Based Compensation (Details) - Summary of Stock Option Valuation Assumptions | 9 Months Ended |
Sep. 30, 2015 | |
Summary of Stock Option Valuation Assumptions [Abstract] | |
Risk-free interest rate | 1.98% |
Expected term | 10 years |
Expected stock price volatility | 17.70% |
Note 11 - Stock Based Compens67
Note 11 - Stock Based Compensation (Details) - Summary of Restricted Stock Activity - Restricted Stock [Member] | 9 Months Ended |
Sep. 30, 2015$ / sharesshares | |
Note 11 - Stock Based Compensation (Details) - Summary of Restricted Stock Activity [Line Items] | |
Nonvested share awards outstanding, December 31, 2014 | shares | 27,000 |
Nonvested share awards outstanding, December 31, 2014 | $ 18.23 |
Share awards granted | shares | 3,983 |
Share awards granted | $ 22 |
Share awards vested | shares | (12,000) |
Share awards vested | $ 17.20 |
Nonvested share awards outstanding, September 30, 2015 | shares | 19,000 |
Nonvested share awards outstanding, September 30, 2015 | $ 19.73 |
Note 12 - Off-balance Sheet A68
Note 12 - Off-balance Sheet Arrangements, Commitments and Contingencies (Details) | 9 Months Ended |
Sep. 30, 2015 | |
Note 12 - Off-balance Sheet Arrangements, Commitments and Contingencies (Details) [Line Items] | |
Commitments to Make Loans, Period | 120 days |
Off-balance-sheet Fixed Rate Loan Commitments, Weighted Average Maturity | 1 year 335 days |
Minimum [Member] | |
Note 12 - Off-balance Sheet Arrangements, Commitments and Contingencies (Details) [Line Items] | |
Off-balance-sheet Fixed Rate Loan Commitments, Interest Rate | 1.60% |
Maximum [Member] | |
Note 12 - Off-balance Sheet Arrangements, Commitments and Contingencies (Details) [Line Items] | |
Off-balance-sheet Fixed Rate Loan Commitments, Interest Rate | 9.50% |
Weighted Average [Member] | |
Note 12 - Off-balance Sheet Arrangements, Commitments and Contingencies (Details) [Line Items] | |
Off-balance-sheet Fixed Rate Loan Commitments, Interest Rate | 4.57% |
Note 12 - Off-balance Sheet A69
Note 12 - Off-balance Sheet Arrangements, Commitments and Contingencies (Details) - Contractual Amounts of Financial Instruments With Off-balance Sheet Risk - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet financial instrument, fixed rate, contractual amount | $ 362,303 | $ 182,809 |
Off-balance sheet financial instrument, variable rate, contractual amount | 217,892 | 214,195 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet financial instrument, fixed rate, contractual amount | 357,148 | 178,803 |
Off-balance sheet financial instrument, variable rate, contractual amount | 217,781 | 214,195 |
Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet financial instrument, fixed rate, contractual amount | 5,155 | $ 4,006 |
Off-balance sheet financial instrument, variable rate, contractual amount | $ 111 |
Note 13 - Regulatory Capital 70
Note 13 - Regulatory Capital Matters (Details) | Jul. 02, 2013 | Jul. 01, 2013 |
Disclosure Text Block [Abstract] | ||
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | |
Common Equity Tier 1 Capital Conservation Buffer Required for Capital Adequacy to Risk Weighted Assets | 2.50% | |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 4.00% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% |
Note 13 - Regulatory Capital 71
Note 13 - Regulatory Capital Matters (Details) - Summary of the Company's and the Bank's Actual and Required Capital Ratios | Sep. 30, 2015 | Dec. 31, 2014 | Jul. 02, 2013 | Jul. 01, 2013 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common equity Tier 1 capital (to risk weighted assets), minimum required for capital adequacy purposes | 4.50% | |||
Leverage ratio (to average assets), minimum required for capital adequacy purposes | 4.00% | |||
Tier 1 risk-based capital ratio (to risk weighted assets), minimum required for capital adequacy purposes | 6.00% | 4.00% | ||
Consolidated Entities [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common equity Tier 1 capital (to risk weighted assets), minimum required for capital adequacy purposes | 4.50% | |||
Common equity Tier 1 capital (to risk weighted assets), actual ratio | 8.61% | |||
Leverage ratio (to average assets), minimum required for capital adequacy purposes | 4.00% | 4.00% | ||
Leverage ratio (to average assets), actual ratio | 8.37% | 9.55% | ||
Tier 1 risk-based capital ratio (to risk weighted assets), minimum required for capital adequacy purposes | 6.00% | 4.00% | ||
Tier 1 risk-based capital ratio (to risk weighted assets), actual ratio | 9.12% | 11.96% | ||
Total risk-based capital ratio (to risk weighted assets), minimum required for capital adequacy purposes | 8.00% | 8.00% | ||
Total risk-based capital ratio (to risk weighted assets), actual ratio | 9.75% | 12.80% | ||
Allegiance Bank [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common equity Tier 1 capital (to risk weighted assets), minimum required for capital adequacy purposes | 4.50% | |||
Common equity Tier 1 capital (to risk weighted assets), to be categorized as well capitalized under prompt corrective action provisions | 6.50% | |||
Common equity Tier 1 capital (to risk weighted assets), actual ratio | 10.69% | |||
Leverage ratio (to average assets), minimum required for capital adequacy purposes | 4.00% | 4.00% | ||
Leverage ratio (to average assets), to be categorized as well capitalized under prompt corrective action provisions | 5.00% | 5.00% | ||
Leverage ratio (to average assets), actual ratio | 9.80% | 9.38% | ||
Tier 1 risk-based capital ratio (to risk weighted assets), minimum required for capital adequacy purposes | 6.00% | 4.00% | ||
Tier 1 risk-based capital ratio (to risk weighted assets), to be categorized as well capitalized under prompt corrective action provisions | 8.00% | 6.00% | ||
Tier 1 risk-based capital ratio (to risk weighted assets), actual ratio | 10.69% | 11.76% | ||
Total risk-based capital ratio (to risk weighted assets), minimum required for capital adequacy purposes | 8.00% | 8.00% | ||
Total risk-based capital ratio (to risk weighted assets), to be categorized as well capitalized under prompt corrective action provisions | 10.00% | 10.00% | ||
Total risk-based capital ratio (to risk weighted assets), actual ratio | 11.32% | 12.59% |
Note 14 - Earnings Per Common72
Note 14 - Earnings Per Common Share (Details) - shares shares in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Employee Stock Option [Member] | ||
Note 14 - Earnings Per Common Share (Details) [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 318 | 241 |
Note 14 - Earnings Per Common73
Note 14 - Earnings Per Common Share (Details) - Summary of Basic and Diluted Earnings Per Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Summary of Basic and Diluted Earnings Per Share [Abstract] | ||||
Net income attributable to common stockholders (in Dollars) | $ 4,047 | $ 2,021 | $ 11,015 | $ 6,705 |
Basic: | ||||
Weighted average common shares outstanding | 9,823 | 6,979 | 9,823 | 6,972 |
Weighted average common shares outstanding (in Dollars per share) | $ 0.41 | $ 0.29 | $ 1.12 | $ 0.96 |
Add incremental shares for: | ||||
Dilutive effect of stock option exercises | 180 | 175 | 178 | 161 |
Total | 10,003 | 7,154 | 10,001 | 7,133 |
Total (in Dollars per share) | $ 0.40 | $ 0.28 | $ 1.10 | $ 0.94 |
Note 15 - Subsequent Events (De
Note 15 - Subsequent Events (Details) $ / shares in Units, $ in Thousands | Oct. 16, 2015USD ($) | Oct. 07, 2015USD ($)$ / sharesshares | Nov. 03, 2015 | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) | |
Note 15 - Subsequent Events (Details) [Line Items] | ||||||
Loans Receivable Held-for-sale, Amount | [1] | $ 27,004 | ||||
Assets Held-for-sale, Not Part of Disposal Group | 1,446 | |||||
Deposits Associated With Banking Branches Held-for-sale | $ 27,100 | |||||
Subsequent Event [Member] | ||||||
Note 15 - Subsequent Events (Details) [Line Items] | ||||||
Proceeds from Issuance Initial Public Offering | $ 57,200 | |||||
Repayments of Debt | $ 27,500 | |||||
Subsequent Event [Member] | IPO [Member] | ||||||
Note 15 - Subsequent Events (Details) [Line Items] | ||||||
Stock Issued During Period, Shares, New Issues (in Shares) | shares | 2,990,000 | |||||
Share Price (in Dollars per share) | $ / shares | $ 21 | |||||
Subsequent Event [Member] | Incommons Bank N.A. [Member] | ||||||
Note 15 - Subsequent Events (Details) [Line Items] | ||||||
Number of Branches Agreed to Be Sold | 2 | |||||
[1] | Consists of loans at two former F&M locations acquired on January 1, 2015. On November 3, 2015, the Company entered into an agreement to sell these former F&M branches and their related assets located in Central Texas. As of September 30, 2015, loans held for sale consists of $12.2 million of commercial and industrial loans, $11.6 million of commercial real estate (including multi-family residential) loans, $2.4 million of 1-4 family residential (including home equity) loans and $741 thousand of consumer and other loans. Loans held for sale are carried at lower of aggregate cost or fair value. |