Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 30, 2017 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | FARMERS NATIONAL BANC CORP /OH/ | |
Entity Central Index Key | 709,337 | |
Document Type | 10-Q | |
Trading Symbol | FMNB | |
Document Period End Date | Mar. 31, 2017 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 27,066,592 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 19,577 | $ 19,678 |
Federal funds sold and other | 41,674 | 22,100 |
TOTAL CASH AND CASH EQUIVALENTS | 61,251 | 41,778 |
Securities available for sale | 377,072 | 369,995 |
Loans held for sale | 1,098 | 355 |
Loans | 1,461,461 | 1,427,635 |
Less allowance for loan losses | 11,319 | 10,852 |
NET LOANS | 1,450,142 | 1,416,783 |
Premises and equipment, net | 23,212 | 23,225 |
Goodwill | 37,164 | 37,164 |
Other intangibles | 7,625 | 7,990 |
Bank owned life insurance | 30,249 | 30,048 |
Other assets | 38,674 | 38,775 |
TOTAL ASSETS | 2,026,487 | 1,966,113 |
Deposits: | ||
Noninterest-bearing | 374,399 | 366,870 |
Interest-bearing | 1,165,821 | 1,157,886 |
TOTAL DEPOSITS | 1,540,220 | 1,524,756 |
Short-term borrowings | 235,228 | 198,460 |
Long-term borrowings | 9,841 | 15,036 |
Other liabilities | 23,136 | 14,645 |
TOTAL LIABILITIES | 1,808,425 | 1,752,897 |
Commitments and contingent liabilities | ||
Stockholders' Equity: | ||
Common Stock - Authorized 35,000,000 shares; issued 27,713,811 in 2017 and 2016 | 178,365 | 178,317 |
Retained earnings | 46,973 | 42,547 |
Accumulated other comprehensive loss | (2,557) | (2,791) |
Treasury stock, at cost; 647,219 shares in 2017 and 666,147 in 2016 | (4,719) | (4,857) |
TOTAL STOCKHOLDERS' EQUITY | 218,062 | 213,216 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 2,026,487 | $ 1,966,113 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) (Unaudited) - shares | Mar. 31, 2017 | Dec. 31, 2016 |
Statement Of Financial Position [Abstract] | ||
Common stock, shares authorized | 35,000,000 | 35,000,000 |
Common stock, shares issued | 27,713,811 | 27,713,811 |
Treasury stock, shares | 647,219 | 666,147 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
INTEREST AND DIVIDEND INCOME | ||
Loans, including fees | $ 16,483 | $ 15,270 |
Taxable securities | 1,118 | 1,437 |
Tax exempt securities | 1,071 | 889 |
Dividends | 115 | 113 |
Federal funds sold and other interest income | 63 | 38 |
TOTAL INTEREST AND DIVIDEND INCOME | 18,850 | 17,747 |
INTEREST EXPENSE | ||
Deposits | 914 | 707 |
Short-term borrowings | 327 | 175 |
Long-term borrowings | 78 | 118 |
TOTAL INTEREST EXPENSE | 1,319 | 1,000 |
NET INTEREST INCOME | 17,531 | 16,747 |
Provision for loan losses | 1,050 | 780 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 16,481 | 15,967 |
NONINTEREST INCOME | ||
Service charges on deposit accounts | 951 | 935 |
Bank owned life insurance income | 201 | 212 |
Trust fees | 1,678 | 1,496 |
Insurance agency commissions | 674 | 139 |
Security gains | 13 | 0 |
Retirement plan consulting fees | 513 | 489 |
Investment commissions | 222 | 236 |
Net gains on sale of loans | 607 | 402 |
Debit card and EFT fees | 653 | 626 |
Other operating income | 375 | 411 |
TOTAL NONINTEREST INCOME | 5,887 | 4,946 |
NONINTEREST EXPENSES | ||
Salaries and employee benefits | 8,287 | 7,554 |
Occupancy and equipment | 1,587 | 1,664 |
State and local taxes | 417 | 393 |
Professional fees | 747 | 529 |
Merger related costs | 62 | 289 |
Advertising | 244 | 345 |
FDIC insurance | 235 | 283 |
Intangible amortization | 365 | 337 |
Core processing charges | 655 | 638 |
Telephone and data | 241 | 216 |
Other operating expenses | 1,773 | 2,196 |
TOTAL NONINTEREST EXPENSES | 14,613 | 14,444 |
INCOME BEFORE INCOME TAXES | 7,755 | 6,469 |
INCOME TAXES | 1,972 | 1,671 |
NET INCOME | $ 5,783 | $ 4,798 |
EARNINGS PER SHARE - basic and diluted | $ 0.21 | $ 0.18 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Statement Of Income And Comprehensive Income [Abstract] | |||
NET INCOME | $ 5,783 | $ 4,798 | |
Other comprehensive income: | |||
Net unrealized holding gains on available for sale securities | 375 | 3,357 | |
Reclassification adjustment for (gains) realized in income | [1] | (13) | 0 |
Net unrealized holding gains | 362 | 3,357 | |
Income tax effect | (128) | (1,175) | |
Other comprehensive income, net of tax | 234 | 2,182 | |
TOTAL COMPREHENSIVE INCOME | $ 6,017 | $ 6,980 | |
[1] | Pre-tax reclassification adjustments relating to available-for-sale securities are reported in security gains and the tax impact is included in income tax expense on the consolidated statements of income. |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2017 - USD ($) $ in Thousands | Total | COMMON STOCK | RETAINED EARNINGS | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | TREASURY STOCK, AT COST |
Balance at beginning of year at Dec. 31, 2016 | $ 213,216 | $ 178,317 | $ 42,547 | $ (2,791) | $ (4,857) |
Shares issued under the Long Term Incentive Plan | (133) | (5) | 138 | ||
Stock compensation expense for 480,462 unvested shares | 181 | ||||
Net income | 5,783 | 5,783 | |||
Dividends declared at $.05 per share | (1,352) | ||||
Other comprehensive income | 234 | 234 | |||
Balance at end of year at Mar. 31, 2017 | $ 218,062 | $ 178,365 | $ 46,973 | $ (2,557) | $ (4,719) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Parenthetical) (Unaudited) | 3 Months Ended |
Mar. 31, 2017$ / sharesshares | |
Common stock, shares issued | 27,713,811 |
COMMON STOCK | |
Common stock, shares issued | 18,928 |
Stock compensation expense, unvested shares | 480,462 |
RETAINED EARNINGS | |
Cash dividend declared per share of common stock | $ / shares | $ 0.05 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
NET INCOME | $ 5,783 | $ 4,798 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Provision for loan losses | 1,050 | 780 |
Depreciation and amortization | 879 | 904 |
Net amortization of securities | 511 | 530 |
Security gains | (13) | 0 |
Stock compensation expense | 181 | 201 |
Loss on sale of other real estate owned | 33 | 200 |
Loss on fixed asset disposal | 6 | 0 |
Earnings on bank owned life insurance | (201) | (212) |
Origination of loans held for sale | (15,256) | (12,885) |
Proceeds from loans held for sale | 15,120 | 14,568 |
Net gains on sale of loans | (607) | (402) |
Net change in other assets and liabilities | (1,285) | (5,983) |
NET CASH FROM OPERATING ACTIVITIES | 6,201 | 2,499 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from maturities and repayments of securities available for sale | 14,301 | 12,013 |
Proceeds from sales of securities available for sale | 43,263 | 10 |
Purchases of securities available for sale | (54,891) | (1,977) |
Purchase of restricted stock | (391) | 0 |
Loan originations and payments, net | (34,409) | (19,192) |
Proceeds from sale of other real estate owned | 131 | 375 |
Additions to premises and equipment | (405) | (281) |
NET CASH FROM INVESTING ACTIVITIES | (32,401) | (9,052) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | 15,464 | 36,835 |
Net change in short-term borrowings | 36,768 | (50,215) |
Repayment of long-term borrowings | (5,207) | (216) |
Cash dividends paid | (1,352) | (1,078) |
Repurchase of common shares | 0 | (168) |
NET CASH FROM FINANCING ACTIVITIES | 45,673 | (14,842) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 19,473 | (21,395) |
Beginning cash and cash equivalents | 41,778 | 56,014 |
Ending cash and cash equivalents | 61,251 | 34,619 |
Supplemental cash flow information: | ||
Interest paid | 1,319 | 974 |
Income taxes paid | 0 | 1,000 |
Supplemental noncash disclosures: | ||
Transfer of loans to other real estate | 0 | 188 |
Security purchases not settled | 9,886 | 0 |
Issuance of stock awards | $ 132 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Principles of Consolidation: Farmers National Banc Corp. (“Company”) is a Financial Holding Company registered under the Bank Holding Company Act of 1956, as amended. The Company provides full banking services through its nationally chartered subsidiary, The Farmers National Bank of Canfield (“Bank”). The Bank acquired Bowers Insurance Agency, Inc. (“Bowers”) and the Bowers with during 2016. st st Basis of Presentation: The unaudited condensed consolidated financial statements have been prepared in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2016 Annual Report to Shareholders included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. The interim consolidated financial statements include all adjustments (consisting of only normal recurring items) that, in the opinion of management, are necessary for a fair presentation of the financial position and results of operations for the periods presented. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year. Certain items included in the prior period financial statements were reclassified to conform to the current period presentation. There was no effect on net income or total stockholders’ equity. Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Segments: The Company provides a broad range of financial services to individuals and companies in northeastern Ohio. Operations are managed and financial performance is primarily aggregated and reported in three lines of business, the Bank segment, the Trust segment and the Retirement Consulting segment. Comprehensive Income: Comprehensive income consists of net income and other comprehensive income. Other comprehensive income consists of unrealized gains and losses on securities available for sale and changes in the funded status of the post-retirement health plan, which are recognized as separate components of equity, net of tax effects. For all periods presented there was no change in the funded status of the post-retirement health plan. New Accounting Standards: During April of 2017, the FASB issued ASU 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities I n January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU eliminates Step 2 from the goodwill impairment test. Instead, under the new guidance, an entity is to perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge would be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of this guidance is not expected to have an impact on the Company's Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13: Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09: Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, FASB issued ASU 2016-02 (Topic 842): Leases In January 2016, FASB issued ASU 2016-01: Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In May 2014, FASB issued ASU 2014-09: Revenue from Contracts with Customers (Topic 606). specifically, deposit fees, trust income and retirement consulting income. |
Business Combinations
Business Combinations | 3 Months Ended |
Mar. 31, 2017 | |
Business Combinations [Abstract] | |
Business Combinations | Business Combinations: On March 13, 2017, the Company announced the agreement and plan of merger with Monitor Bancorp, Inc. (“Monitor”), the holding company for Monitor Bank. Pursuant to the agreement, the actual consideration to be paid will be calculated based on Monitor’s consolidated tangible book value per share as of March 31, 2017, plus the after-tax proceeds of the anticipated sale of Monitor’s interest in the Monitor Wealth Group (in aggregate, “March 31 TBV”). Each shareholder of Monitor will be entitled to elect to receive consideration in cash or in Farmers’ common shares, subject to an overall limitation of 85% of the shares being exchanged for Farmers’ shares and 15% for cash. Based on a current estimate of March 31 TBV, the transaction would be valued at approximately $7.8 million with $1.4 million of goodwill recorded. The merger is expected to qualify as a tax-free reorganization for those shareholders electing to receive Farmers’ shares. The transaction is subject to receipt of Monitor shareholder approval and customary regulatory approvals. The Company expects the transaction to close late in the second quarter or early in the third quarter of 2017. On June 1, 2016, the Bank completed the acquisition of the Bowers Insurance Agency, Inc., and merged all activity of Bowers with Insurance, the Bank’s wholly-owned insurance agency subsidiary. The Bowers group is engage in selling insurance including commercial, farm, home, and auto property/casualty insurance and will help to meet the needs of all the Company’s customers. The transaction involved both cash and 123,280 shares of stock totaling $3.2 million, including up to $1.2 million of future payments, contingent upon Bowers meeting performance targets, with an estimated fair value at the acquisition date of $880 thousand. The acquisition is part of the Company’s plan to increase the levels of noninterest income and to complement the existing insurance services currently being offered . Goodwill of $1.8 million, which is recorded on the balance sheet, arising from the acquisition consisted largely of synergies and the cost savings resulting from the combining of the companies. The goodwill was determined not to be deductible for income tax purposes. The fair value of other intangible assets of $1.6 million is related to client relationships, company name and noncompetition agreements. The following table summarizes the consideration paid for Bowers and the amounts of the assets acquired and liabilities assumed on the closing date of the acquisition. (In Thousands of Dollars) Consideration Cash $ 1,137 Stock 1,138 Contingent consideration 880 Fair value of total consideration transferred $ 3,155 Fair value of assets acquired Cash $ 64 Premises and equipment 290 Other assets 34 Total assets acquired 388 Fair value of liabilities assumed 124 Net assets acquired $ 264 Assets and liabilities arising from acquisition Identified intangible assets 1,630 Deferred tax liability (588 ) Goodwill created 1,849 Total net assets acquired $ 3,155 The following table presents pro forma information as if the above acquisition that occurred during June 2016 actually took place at the beginning of 2016. The pro forma information includes adjustments for merger related costs, amortization of intangibles arising from the transaction and the related income tax effects. The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effective on the assumed date. For Three Months Ended March 31, (In thousands of dollars except per share results) 2016 Net interest income $ 16,747 Net income $ 4,810 Basic and diluted earnings per share $ 0.18 |
Securities
Securities | 3 Months Ended |
Mar. 31, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | Securities: The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolio at March 31, 2017 and December 31, 2016 and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income: Gross Gross (In Thousands of Dollars) Amortized Unrealized Unrealized Cost Gains Losses Fair Value March 31, 2017 U.S. Treasury and U.S. government sponsored entities $ 5,467 $ 4 $ (49 ) $ 5,422 State and political subdivisions 166,479 1,108 (2,562 ) 165,025 Corporate bonds 1,042 5 (6 ) 1,041 Mortgage-backed securities - residential 170,675 567 (2,064 ) 169,178 Collateralized mortgage obligations - residential 20,504 2 (695 ) 19,811 Small Business Administration 16,720 0 (479 ) 16,241 Equity securities 171 184 (1 ) 354 Totals $ 381,058 $ 1,870 $ (5,856 ) $ 377,072 Gross Gross (In Thousands of Dollars) Amortized Unrealized Unrealized Cost Gains Losses Fair Value December 31, 2016 U.S. Treasury and U.S. government sponsored entities $ 5,970 $ 5 $ (54 ) $ 5,921 State and political subdivisions 157,014 1,049 (2,760 ) 155,303 Corporate bonds 1,343 4 (8 ) 1,339 Mortgage-backed securities - residential 171,215 1,019 (2,552 ) 169,682 Collateralized mortgage obligations - residential 21,397 1 (705 ) 20,693 Small Business Administration 17,236 0 (530 ) 16,706 Equity securities 168 185 (2 ) 351 Totals $ 374,343 $ 2,263 $ (6,611 ) $ 369,995 Proceeds from the sale of portfolio securities were $43.3 million during the three month period ended March 31, 2017. Gross gains of $562 thousand and gross losses of $549 thousand were realized on these sales during the three month period ended March 31, 2017. Proceeds from the sale of portfolio securities were $10 thousand during the three month period ended March 31, 2016. Gross gains were $1 thousand and gross losses of $1 thousand during the same three month period ended March 31, 2016. The amortized cost and fair value of the debt securities portfolio are shown by expected maturity. Expected maturities may differ from contractual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. March 31, 2017 (In Thousands of Dollars) Amortized Cost Fair Value Maturity Within one year $ 11,743 $ 11,754 One to five years 52,051 52,432 Five to ten years 88,905 87,286 Beyond ten years 20,289 20,016 Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities 207,899 205,230 Total $ 380,887 $ 376,718 The following table summarizes the investment securities with unrealized losses at March 31, 2017 and December 31, 2016, aggregated by major security type and length of time in a continuous unrealized loss position. Unrealized losses for U.S. Treasury and U.S. government sponsored entities for more than twelve months, rounded to less than $1 thousand in 2017. Less than 12 Months 12 Months or Longer Total (In Thousands of Dollars) Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss March 31, 2017 Available-for-sale U.S. Treasury and U.S. government sponsored entities $ 4,719 $ (49 ) $ 0 $ 0 $ 4,719 $ (49 ) State and political subdivisions 68,787 (2,549 ) 286 (13 ) 69,073 (2,562 ) Corporate bonds 486 (6 ) 0 0 486 (6 ) Mortgage-backed securities - residential 80,341 (1,902 ) 8,841 (162 ) 89,182 (2,064 ) Collateralized mortgage obligations - residential 7,568 (118 ) 10,573 (577 ) 18,141 (695 ) Small Business Administration 8,420 (192 ) 7,778 (287 ) 16,198 (479 ) Equity securities 33 (1 ) 0 0 33 (1 ) Total $ 170,354 $ (4,817 ) $ 27,478 $ (1,039 ) $ 197,832 $ (5,856 ) Less than 12 Months 12 Months or Longer Total (In Thousands of Dollars) Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2016 Available-for-sale U.S. Treasury and U.S. government sponsored entities $ 4,015 $ (54 ) $ 502 $ 0 $ 4,517 $ (54 ) State and political subdivisions 92,560 (2,745 ) 286 (15 ) 92,846 (2,760 ) Corporate bonds 786 (8 ) 0 0 786 (8 ) Mortgage-backed securities - residential 98,348 (1,823 ) 29,743 (729 ) 128,091 (2,552 ) Collateralized mortgage obligations - residential 7,956 (108 ) 10,972 (597 ) 18,928 (705 ) Small Business Administration 8,770 (205 ) 7,890 (325 ) 16,660 (530 ) Equity securities 44 (2 ) 0 0 44 (2 ) Total $ 212,479 $ (4,945 ) $ 49,393 $ (1,666 ) $ 261,872 $ (6,611 ) Other-Than-Temporary-Impairment Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. Investment securities are generally evaluated for OTTI under FASB Accounting Standards Codification (“ASC”) 320, Investments – Debt and Equity Securities When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. If an entity intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. The previous amortized cost basis less the OTTI recognized in earnings becomes the new amortized cost basis of the investment. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income or loss. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. As of March 31, 2017, the Company’s security portfolio consisted of 511 securities, 178 of which were in an unrealized loss position. The majority of the unrealized losses on the Company’s securities are related to its holdings of mortgage-backed securities, collateralized mortgage obligations, state and political subdivision securities, and Small Business Administration securities as discussed below. Unrealized losses on debt securities issued by state and political subdivisions have not been recognized into income. These securities have maintained their investment grade ratings and management does not have the intent and does not expect to be required to sell these securities before their anticipated recovery. The fair value is expected to recover as the securities approach their maturity date. All of the Company’s holdings of collateralized mortgage obligations and residential mortgage-backed securities were issued by U.S. government-sponsored entities. Unrealized losses on these securities have not been recognized into income. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, the issues are guaranteed by the issuing entity which the U.S. government has affirmed its commitment to support, and because the Company does not have the intent to sell these residential mortgage-backed securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be OTTI. Management does not believe any unrealized losses on Small Business Administration securities represent an OTTI. The securities are issued and backed by the full faith and credit of the U.S. government and the Company does not have the intent and does not anticipate that it will be required to sell these securities before their anticipated recovery. The fair value of these securities is expected to recover as they approach their maturity. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Loans | Loans: Loan balances were as follows: (In Thousands of Dollars) March 31, 2017 December 31, 2016 Originated loans: Commercial real estate Owner occupied $ 116,108 $ 109,750 Non-owner occupied 165,916 165,861 Farmland 41,157 34,155 Other 77,456 70,823 Commercial Commercial and industrial 178,194 171,145 Agricultural 26,564 24,598 Residential real estate 1-4 family residential 237,841 224,222 Home equity lines of credit 62,593 59,642 Consumer Indirect 161,596 156,633 Direct 27,835 26,663 Other 7,517 7,611 Total originated loans $ 1,102,777 $ 1,051,103 Acquired loans: Commercial real estate Owner occupied $ 59,376 $ 60,928 Non-owner occupied 23,931 24,949 Farmland 51,315 54,204 Other 14,130 14,665 Commercial Commercial and industrial 30,719 33,626 Agricultural 14,832 16,024 Residential real estate 1-4 family residential 107,502 112,015 Home equity lines of credit 33,657 34,795 Consumer Direct 19,543 21,681 Other 157 247 Total acquired loans $ 355,162 $ 373,134 Net Deferred loan costs 3,522 3,398 Allowance for loan losses (11,319 ) (10,852 ) Net loans $ 1,450,142 $ 1,416,783 Purchased credit impaired loans As part of the NBOH acquisition the Company acquired various loans that displayed evidence of deterioration of credit quality since origination and which was probable that all contractually required payments would not be collected. The carrying amounts and contractually required payments of these loans which are included in the loan balances above are summarized in the following tables: (In Thousands of Dollars) March 31, 2017 December 31, 2016 Commercial real estate Owner occupied $ 662 $ 689 Non-owner occupied 410 436 Commercial Commercial and industrial 1,171 1,213 Total outstanding balance $ 2,243 $ 2,338 Carrying amount, net of allowance of $0 in 2017 and 2016 $ 1,790 $ 1,864 Accretable yield, or income expected to be collected, is shown in the table below: (In Thousands of Dollars) Three Months Ended March 31, 2017 Beginning balance $ 247 New loans purchased 0 Accretion of income (19 ) Ending balance $ 228 The key assumptions considered include probability of default and the amount of actual prepayments after the acquisition date. Prepayments affect the estimated life of the loans and could change the amount of interest income and principal expected to be collected. In reforecasting future estimated cash flows, credit loss expectations are adjusted as necessary. There were no adjustments to forecasted cash flows that impacted the allowance for loan losses for the three months ended March 31, 2017. The following tables present the activity in the allowance for loan losses by portfolio segment for the three month periods ended March 31, 2017 and 2016: Three Months Ended March 31, 2017 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 3,577 $ 1,874 $ 2,205 $ 2,766 $ 430 $ 10,852 Provision for loan losses 77 17 109 576 271 1,050 Loans charged off (140 ) (102 ) (6 ) (695 ) 0 (943 ) Recoveries 124 57 13 166 0 360 Total ending allowance balance $ 3,638 $ 1,846 $ 2,321 $ 2,813 $ 701 $ 11,319 Three Months Ended March 31, 2016 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 3,127 $ 1,373 $ 1,845 $ 2,160 $ 473 $ 8,978 Provision for loan losses 43 64 75 446 152 780 Loans charged off 0 0 (34 ) (544 ) 0 (578 ) Recoveries 11 15 28 156 0 210 Total ending allowance balance $ 3,181 $ 1,452 $ 1,914 $ 2,218 $ 625 $ 9,390 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment, based on impairment method as of March 31, 2017 and December 31, 2016. The recorded investment in loans includes the unpaid principal balance and unamortized loan origination fees and costs, but excludes accrued interest receivable, which is not considered to be material: March 31, 2017 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 35 $ 4 $ 56 $ 0 $ 0 $ 95 Collectively evaluated for impairment 3,603 1,842 2,259 2,813 701 11,218 Acquired loans 0 0 6 0 0 6 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 3,638 $ 1,846 $ 2,321 $ 2,813 $ 701 $ 11,319 Loans: Loans individually evaluated for impairment $ 2,306 $ 336 $ 3,601 $ 52 $ 0 $ 6,295 Loans collectively evaluated for impairment 397,475 204,206 296,612 202,328 0 1,100,621 Acquired loans 147,563 44,608 140,883 19,701 0 352,755 Acquired with deteriorated credit quality 928 862 0 0 0 1,790 Total ending loans balance $ 548,272 $ 250,012 $ 441,096 $ 222,081 $ 0 $ 1,461,461 December 31, 2016 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 44 $ 4 $ 48 $ 0 $ 0 $ 96 Collectively evaluated for impairment 3,491 1,763 2,153 2,766 430 10,603 Acquired loans 42 107 4 0 0 153 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 3,577 $ 1,874 $ 2,205 $ 2,766 $ 430 $ 10,852 Loans: Loans individually evaluated for impairment $ 3,457 $ 477 $ 3,308 $ 96 $ 0 $ 7,338 Loans collectively evaluated for impairment 376,632 195,146 280,215 196,081 0 1,048,074 Acquired loans 153,228 48,536 146,672 21,923 0 370,359 Acquired with deteriorated credit quality 968 896 0 0 0 1,864 Total ending loans balance $ 534,285 $ 245,055 $ 430,195 $ 218,100 $ 0 $ 1,427,635 The following tables present information related to impaired loans by class of loans as of March 31, 2017 and December 31, 2016: (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated March 31, 2017 With no related allowance recorded: Commercial real estate Owner occupied $ 1,443 $ 926 $ 0 Non-owner occupied 18 18 0 Farmland 94 93 0 Commercial Commercial and industrial 204 183 0 Agricultural 126 80 0 Residential real estate 1-4 family residential 2,649 2,401 0 Home equity lines of credit 345 326 0 Consumer 127 52 0 Subtotal 5,006 4,079 0 With an allowance recorded: Commercial real estate Owner occupied 167 167 9 Non-owner occupied 1,102 1,102 26 Farmland 0 0 0 Commercial Commercial and industrial 73 73 4 Agricultural 0 0 0 Residential real estate 1-4 family residential 813 791 61 Home equity lines of credit 83 83 1 Subtotal 2,238 2,216 101 Total $ 7,244 $ 6,295 $ 101 (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated December 31, 2016 With no related allowance recorded: Commercial real estate Owner occupied $ 1,974 $ 1,456 $ 0 Non-owner occupied 332 331 0 Commercial Commercial and industrial 205 184 0 Residential real estate 1-4 family residential 2,650 2,403 0 Home equity lines of credit 195 179 0 Consumer 205 96 0 Subtotal 5,561 4,649 0 With an allowance recorded: Commercial real estate Owner occupied 173 173 14 Non-owner occupied 1,118 1,118 30 Farmland 380 379 42 Commercial Commercial and industrial 75 75 4 Agricultural 219 218 107 Residential real estate 1-4 family residential 661 642 51 Home equity lines of credit 84 84 1 Subtotal 2,710 2,689 249 Total $ 8,271 $ 7,338 $ 249 The following tables present the average recorded investment in impaired loans by class and interest income recognized by loan class for the three month periods ended March 31, 2017 and 2016: Average Recorded Investment Interest Income Recognized For Three Months Ended March 31, For Three Months Ended March 31, (In Thousands of Dollars) 2017 2016 2017 2016 With no related allowance recorded: Commercial real estate Owner occupied $ 1,051 $ 2,307 $ 2 $ 10 Non-owner occupied 226 336 0 4 Commercial Commercial and industrial 210 614 1 5 Residential real estate 1-4 family residential 2,380 2,292 37 38 Home equity lines of credit 227 240 4 3 Consumer 74 116 3 3 Subtotal 4,168 5,905 47 63 With an allowance recorded: Commercial real estate Owner occupied 422 1,589 2 9 Non-owner occupied 1,107 1,469 14 19 Commercial Commercial and industrial 273 80 1 1 Residential real estate 1-4 family residential 773 749 8 9 Home equity lines of credit 82 86 1 1 Consumer 1 0 0 0 Subtotal 2,658 3,973 26 39 Total $ 6,826 $ 9,878 $ 73 $ 102 Cash basis interest recognized during the three month periods ended March 31, 2017 and 2016 was materially equal to interest income recognized. Nonaccrual loans and loans past due 90 days or more still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The following table presents the recorded investment in nonaccrual and loans past due 90 days or more still on accrual by class of loans as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 (In Thousands of Dollars) Nonaccrual Loans Past Due 90 Days or More Still Accruing Nonaccrual Loans Past Due 90 Days or More Still Accruing Originated loans: Commercial real estate Owner occupied $ 806 $ 0 $ 958 $ 0 Non-owner occupied 17 0 343 0 Farmland 55 0 58 0 Commercial Commercial and industrial 309 40 400 0 Agricultural 3 0 12 0 Residential real estate 1-4 family residential 1,857 467 1,929 295 Home equity lines of credit 196 85 202 118 Consumer Indirect 368 262 298 438 Direct 7 0 9 65 Other 0 18 0 16 Total originated loans $ 3,618 $ 872 $ 4,209 $ 932 Acquired loans: Commercial real estate Owner occupied $ 59 $ 0 $ 85 $ 0 Other 8 0 24 0 Farmland 93 0 380 0 Commercial Commercial and industrial 894 0 961 0 Agricultural 98 0 236 0 Residential real estate 1-4 family residential 370 156 386 545 Home equity lines of credit 124 86 119 109 Consumer Direct 94 81 89 95 Total acquired loans $ 1,740 $ 323 $ 2,280 $ 749 Total loans $ 5,358 $ 1,195 $ 6,489 $ 1,681 The following tables present the aging of the recorded investment in past due loans as of March 31, 2017 and December 31, 2016 by class of loans: (In Thousands of Dollars) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due and Nonaccrual Total Past Due Loans Not Past Due Total March 31, 2017 Originated loans: Commercial real estate Owner occupied $ 176 $ 0 $ 806 $ 982 $ 114,795 $ 115,777 Non-owner occupied 0 0 17 17 165,456 165,473 Farmland 0 0 55 55 41,057 41,112 Other 0 0 0 0 77,156 77,156 Commercial Commercial and industrial 0 143 349 492 177,325 177,817 Agricultural 38 0 3 41 26,603 26,644 Residential real estate 1-4 family residential 2,066 556 2,324 4,946 232,357 237,303 Home equity lines of credit 63 84 281 428 62,203 62,631 Consumer Indirect 1,850 359 630 2,839 163,990 166,829 Direct 554 119 7 680 27,356 28,036 Other 29 10 18 57 7,460 7,517 Total originated loans: $ 4,776 $ 1,271 $ 4,490 $ 10,537 $ 1,095,758 $ 1,106,295 Acquired loans: Commercial real estate Owner occupied $ 0 $ 0 $ 59 $ 59 $ 59,317 $ 59,376 Non-owner occupied 65 200 0 265 23,666 23,931 Farmland 0 0 93 93 51,222 51,315 Other 0 0 8 8 14,124 14,132 Commercial Commercial and industrial 65 0 894 959 29,760 30,719 Agricultural 195 0 98 293 14,539 14,832 Residential real estate 1-4 family residential 664 299 526 1,489 106,015 107,504 Home equity lines of credit 126 113 210 449 33,209 33,658 Consumer Direct 426 58 175 659 18,884 19,543 Other 0 0 0 0 156 156 Total acquired loans $ 1,541 $ 670 $ 2,063 $ 4,274 $ 350,892 $ 355,166 Total loans $ 6,317 $ 1,941 $ 6,553 $ 14,811 $ 1,446,650 $ 1,461,461 (In Thousands of Dollars) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due and Nonaccrual Total Past Due Loans Not Past Due Total December 31, 2016 Originated loans: Commercial real estate Owner occupied $ 0 $ 0 $ 958 $ 958 $ 108,475 $ 109,433 Non-owner occupied 0 0 343 343 165,105 165,448 Farmland 0 0 58 58 34,057 34,115 Other 0 0 0 0 70,542 70,542 Commercial Commercial and industrial 90 0 400 490 170,242 170,732 Agricultural 0 29 12 41 24,632 24,673 Residential real estate 1-4 family residential 3,368 356 2,224 5,948 217,752 223,700 Home equity lines of credit 77 37 320 434 59,248 59,682 Consumer Indirect 2,844 696 736 4,276 157,437 161,713 Direct 744 213 74 1,031 25,815 26,846 Other 92 28 16 136 7,476 7,612 Total originated loans $ 7,215 $ 1,359 $ 5,141 $ 13,715 $ 1,040,781 $ 1,054,496 Acquired loans: Commercial real estate Owner occupied $ 8 $ 205 $ 85 $ 298 $ 60,630 $ 60,928 Non-owner occupied 134 0 0 134 24,815 24,949 Farmland 83 0 380 463 53,741 54,204 Other 0 0 24 24 14,642 14,666 Commercial Commercial and industrial 278 0 961 1,239 32,387 33,626 Agricultural 21 0 236 257 15,767 16,024 Residential real estate 1-4 family residential 1,556 504 931 2,991 109,027 112,018 Home equity lines of credit 152 9 228 389 34,406 34,795 Consumer Direct 938 184 184 1,306 20,376 21,682 Other 100 0 0 100 147 247 Total acquired loans $ 3,270 $ 902 $ 3,029 $ 7,201 $ 365,938 $ 373,139 Total loans $ 10,485 $ 2,261 $ 8,170 $ 20,916 $ 1,406,719 $ 1,427,635 |
Troubled Debt Restructurings
Troubled Debt Restructurings | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Troubled Debt Restructurings | Troubled Debt Restructurings: Total troubled debt restructurings were $6.2 million and $7.0 million at March 31, 2017 and December 31, 2016, respectively. The Company has allocated $101 thousand of specific reserves to customers whose loan terms have been modified in troubled debt restructurings at both March 31, 2017 and December 31, 2016. There were no commitments to lend additional amounts to borrowers with loans that were classified as troubled debt restructurings at March 31, 2017 and at December 31, 2016. During the three month period ended March 31, 2017 and 2016, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a legal concession. During the quarter ended March 31, 2017, the terms of such loans included a reduction of the stated interest rate of the loan by 1.89% and extensions of the maturity dates on these and other troubled debt restructurings in the range of 6 to 132 months. During the quarter ended March 31, 2016, the terms of such loans included a reduction of the stated interest rate of the loan by 1.24% and an extension of the maturity date by 120 months. The following table presents loans by class modified as troubled debt restructurings that occurred during the three month periods ended March 31, 2017 and 2016: Pre-Modification Post-Modification Three Months Ended March 31, 2017 Number of Outstanding Recorded Outstanding Recorded (In thousands of Dollars) Loans Investment Investment Originated loans: Residential real estate 1-4 family residential 6 $ 284 $ 287 Home equity lines of credit 5 94 94 Indirect 4 16 16 Total originated loans 15 $ 394 $ 397 Acquired loans: Residential real estate Home equity lines of credit 1 57 57 Total acquired loans 1 $ 57 $ 57 Total loans 16 $ 451 $ 454 Pre-Modification Post-Modification Three Months Ended March 31, 2016 Number of Outstanding Recorded Outstanding Recorded (In Thousands of Dollars) Loans Investment Investment Originated loans: Residential real estate 1-4 family residential 3 $ 47 $ 48 Indirect 8 77 77 Consumer 0 0 0 Total originated loans 11 $ 124 $ 125 Acquired loans: Consumer 1 33 33 Total acquired loans 1 $ 33 $ 33 Total loans 12 $ 157 $ 158 There were $13 thousand in charge offs and a $13 thousand increase to the provision for loan losses during the three month period ended March 31, 2017, as a result of troubled debt restructurings. There were $11 thousand in charge offs and a $11 thousand increase to the provision during the three month period ended March 31, 2016, as a result of troubled debt restructurings. There were no loans for which there was a payment default within twelve months following the modification of the troubled debt restructuring during the three month period ended March 31, 2017. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. There was one residential real estate loan and one home equity line of credit modified as a troubled debt restructuring for which there was a payment default within the first twelve months following the modification during the three month period ended March 31, 2016. These loans were past due at March 31, 2016. There was no provision recorded as a result of the default during 2016. |
Credit Quality Indicators
Credit Quality Indicators | 3 Months Ended |
Mar. 31, 2017 | |
Risks And Uncertainties [Abstract] | |
Credit Quality Indicators | Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company establishes a risk rating at origination for all commercial loan and commercial real estate relationships. For relationships over $750 thousand, management monitors the loans on an ongoing basis for any changes in the borrower’s ability to service their debt. Management also affirms the risk ratings for the loans and leases in their respective portfolios on an annual basis. The Company uses the following definitions for risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Substandard loans are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. As of March 31, 2017 and December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: (In Thousands of Dollars) Pass Special Mention Sub standard Total March 31, 2017 Originated loans: Commercial real estate Owner occupied $ 113,362 $ 481 $ 1,934 $ 115,777 Non-owner occupied 164,806 508 159 165,473 Farmland 41,009 47 56 41,112 Other 76,529 363 264 77,156 Commercial Commercial and industrial 174,556 2,332 929 177,817 Agricultural 26,348 252 44 26,644 Total originated loans $ 596,610 $ 3,983 $ 3,386 $ 603,979 Acquired loans: Commercial real estate Owner occupied $ 57,248 $ 493 $ 1,635 $ 59,376 Non-owner occupied 22,397 1,163 371 23,931 Farmland 50,451 0 864 51,315 Other 12,972 1,036 124 14,132 Commercial Commercial and industrial 27,606 290 2,823 30,719 Agricultural 13,820 722 290 14,832 Total acquired loans $ 184,494 $ 3,704 $ 6,107 $ 194,305 Total loans $ 781,104 $ 7,687 $ 9,493 $ 798,284 (In Thousands of Dollars) Pass Special Mention Sub standard Total December 31, 2016 Originated loans: Commercial real estate Owner occupied $ 106,448 $ 490 $ 2,495 $ 109,433 Non-owner occupied 162,465 522 2,461 165,448 Farmland 34,057 0 58 34,115 Other 69,947 325 270 70,542 Commercial Commercial and industrial 167,062 2,720 950 170,732 Agricultural 24,395 253 25 24,673 Total originated loans $ 564,374 $ 4,310 $ 6,259 $ 574,943 Acquired loans: Commercial real estate Owner occupied $ 58,655 $ 707 $ 1,566 $ 60,928 Non-owner occupied 23,577 1,195 177 24,949 Farmland 53,039 0 1,165 54,204 Other 14,060 464 142 14,666 Commercial Commercial and industrial 30,543 311 2,772 33,626 Agricultural 14,856 685 483 16,024 Total acquired loans $ 194,730 $ 3,362 $ 6,305 $ 204,397 Total loans $ 759,104 $ 7,672 $ 12,564 $ 779,340 The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For residential, consumer indirect and direct loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. In the 1-4 family residential real estate portfolio at March 31, 2017, there were $381 thousand of other real estate owned properties and $813 thousand of properties in foreclosure. Other real estate owned and foreclosure properties were $357 thousand and $371 thousand at December 31, 2016, respectively. The following tables present the recorded investment in residential, consumer indirect and direct auto loans based on payment activity as of March 31, 2017 and December 31, 2016. Nonperforming loans are loans past due 90 days or more and still accruing interest and nonaccrual loans. Residential Real Estate Consumer (In Thousands of Dollars) 1-4 Family Residential Home Equity Lines of Credit Indirect Direct Other March 31, 2017 Originated loans: Performing $ 234,979 $ 62,350 $ 166,199 $ 28,029 $ 7,499 Nonperforming 2,324 281 630 7 18 Total originated loans $ 237,303 $ 62,631 $ 166,829 $ 28,036 $ 7,517 Acquired loans: Performing $ 106,978 $ 33,448 $ 0 $ 19,368 $ 156 Nonperforming 526 210 0 175 0 Total acquired loans 107,504 33,658 0 19,543 156 Total loans $ 344,807 $ 96,289 $ 166,829 $ 47,579 $ 7,673 Residential Real Estate Consumer (In Thousands of Dollars) 1-4 Family Residential Home Equity Lines of Credit Indirect Direct Other December 31, 2016 Originated loans: Performing $ 221,476 $ 59,362 $ 160,977 $ 26,772 $ 7,596 Nonperforming 2,224 320 736 74 16 Total originated loans $ 223,700 $ 59,682 $ 161,713 $ 26,846 $ 7,612 Acquired loans: Performing $ 111,087 $ 34,567 $ 0 $ 21,498 $ 247 Nonperforming 931 228 0 184 0 Total acquired loans 112,018 34,795 0 21,682 247 Total loans $ 335,718 $ 94,477 $ 161,713 $ 48,528 $ 7,859 |
Interest-Rate Swaps
Interest-Rate Swaps | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Interest-Rate Swaps | Interest-Rate Swaps: The Company uses a program that utilizes interest-rate swaps as part of its asset/liability management strategy. The interest-rate swaps are used to help manage the Company’s interest rate risk position and not as derivatives for trading purposes. The notional amount of the interest-rate swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest-rate swap agreements. The objective of the interest-rate swaps is to protect the related fixed rate commercial real estate loans from changes in fair value due to changes in interest rates. The Company has a program whereby it lends to its borrowers at a fixed rate with the loan agreement containing a two-way yield maintenance provision, which will be invoked in the event of prepayment of the loan, and is expected to exactly offset the fair value of unwinding the swap. The yield maintenance provision represents an embedded derivative which is bifurcated from the host loan contract and, as such, the swaps and embedded derivatives are not designated as hedges. Accordingly, both instruments are carried at fair value and changes in fair value are reported in current period earnings. Summary information about these interest-rate swaps at periods ended March 31, 2017 and December 31, 2016 is as follows: March 31, 2017 December 31, 2016 Notional amounts (In thousands) $ 32,303 $ 34,360 Weighted average pay rate on interest-rate swaps 4.36 % 4.34 % Weighted average receive rate on interest-rate swaps 3.26 % 3.04 % Weighted average maturity (years) 4.6 4.8 Fair value of combined interest-rate swaps (In thousands) $ 629 $ 685 The fair value of the yield maintenance provisions and interest-rate swaps is recorded in other assets and other liabilities, respectively, in the consolidated balance sheets. Changes in the fair value of the yield maintenance provisions and interest-rate swaps are reported in earnings, as other noninterest income in the consolidated statements of income. For the three month period ended March 31, 2017 and 2016 there were no net gains or losses recognized in earnings. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share: The computation of basic and diluted earnings per share is shown in the following table: Three Months Ended March 31, 2017 2016 Basic EPS Net income (In thousands) $ 5,783 $ 4,798 Weighted average shares outstanding 27,278,314 27,047,168 Basic earnings per share $ 0.21 $ 0.18 Diluted EPS Net income (In thousands) $ 5,783 $ 4,798 Weighted average shares outstanding for basic earnings per share 27,278,314 27,047,168 Dilutive effect of restricted stock awards 62,668 10,670 Weighted average shares for diluted earnings per share 27,340,982 27,057,838 Diluted earnings per share $ 0.21 $ 0.18 There were no restricted stock awards that were considered anti-dilutive for the three month periods ended March 31, 2017 and 2016. |
Stock Based Compensation
Stock Based Compensation | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock Based Compensation | Stock Based Compensation: During 2012, the Company, with the approval of shareholders, created the 2012 Equity Incentive Plan (the “Plan”). The Plan permits the award of up to 500 thousand shares to the Company’s directors and employees to promote the Company’s long-term financial success by motivating performance through long-term incentive compensation and to better align the interests of its employees with those of its shareholders. There were no additional service time based or performance based shares granted under the Plan during the three month period ended March 31, 2017 as detailed in the table below. The actual number of performance based stock awards issued will depend on certain performance conditions which are mainly average return on equity compared to a group of peer companies over a three year vesting period. The restricted stock awards were granted with a fair value price equal to the market price of the Company’s common stock at the date of the grant. Expense recognized for the Plan was $180 thousand and $201 thousand for the three month periods ended March 31, 2017 and 2016, respectively. As of March 31, 2017, there was $2.2 million of total unrecognized compensation expense related to the nonvested shares granted under the Plan. The remaining cost is expected to be recognized over 1.8 years. The following is the activity under the Plan during the three month period ended March 31, 2017. Three Months Ended March 31, 2017 Maximum Awarded Units Weighted Average Grant Value Beginning unvested units 499,390 $ 8.30 Granted 0 0 Vested (18,928 ) 7.00 Forfeited 0 0 Ending unvested units 480,462 $ 8.35 |
Other Comprehensive Income
Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2017 | |
Comprehensive Income Net Of Tax [Abstract] | |
Other Comprehensive Income | Other Comprehensive Income: The following table represents the details of other comprehensive income for the three month periods ended March 31, 2017 and 2016. Three Months Ended March 31, 2017 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains on available-for-sale securities during the period $ 375 $ (132 ) $ 243 Reclassification adjustment for (gains) included in net income (1) (13 ) 4 (9 ) Net unrealized gains on available-for-sale securities $ 362 $ (128 ) $ 234 Three Months Ended March 31, 2016 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains on available-for-sale securities during the period $ 3,357 $ (1,175 ) $ 2,182 Reclassification adjustment for (gains) losses included in net income (1) 0 0 0 Net unrealized gains on available-for-sale securities $ 3,357 $ (1,175 ) $ 2,182 (1) Pre-tax reclassification adjustments relating to available-for-sale securities are reported in security gains and the tax impact is included in income tax expense on the consolidated statements of income. |
Regulatory Capital Matters
Regulatory Capital Matters | 3 Months Ended |
Mar. 31, 2017 | |
Regulatory Capital Requirements [Abstract] | |
Regulatory Capital Matters | Regulatory Capital Matters Banks and bank holding companies are subject to various regulatory capital requirements administered by the federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. The new minimum capital requirements associated with the Basel Committee on capital and liquidity regulation (Basel III) are being phased in and began on January 1, 2015 and will continue through January 1, 2019. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action by regulators that, if undertaken, could have a direct material effect on the financial statements. Management believes as of March 31, 2017, the Company and the Bank meet all capital adequacy requirements to which they are subject. The FDIC and other federal banking regulators revised the risk-based capital requirements applicable to financial holding companies and insured depository institutions, including the Company and the Bank, to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision (“Basel III”). The common equity tier 1 capital, tier 1 capital and total capital ratios are calculated by dividing the respective capital amounts by risk-weighted assets. The leverage ratio is calculated by dividing tier 1 capital by adjusted average total assets. Basel III limits capital distributions and certain discretionary bonus payments if the banking organization does not hold a “capital conservation buffer” consisting of 2.5% of common equity tier 1 capital, tier 1 capital and total capital to risk-weighted assets in addition to the amount necessary to meet minimum risk-based capital requirements. The capital conservation buffer phase in began January 1, 2016 and will increase each year until fully implemented at 2.5% on January 1, 2019. The additional capital conservation buffer is 1.25% for the year of 2017 and was 0.625% during 2016. Excluding the additional buffer, Basel III requires the Company and the Bank to maintain (i) a minimum ratio of common equity tier 1 capital to risk-weighted assets of at least 4.5%, (ii) a minimum ratio of tier 1 capital to risk-weighted assets of at least 6.0%, (iii) a minimum ratio of total capital to risk-weighted assets of at least 8.0% and (iv) a minimum leverage ratio of at least 4.0%. 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 only 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. At March 31, 2017 and December 31, 2016, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. Actual and required capital amounts and ratios are presented below at March 31, 2017 and December 31, 2016: Actual Requirement For Capital Adequacy Purposes: To be Well Capitalized Under Prompt Corrective Action Provisions: Amount Ratio Amount Ratio Amount Ratio March 31, 2017 Common equity tier 1 capital ratio Consolidated $ 184,259 11.75 % $ 70,564 4.5 % N/A N/A Bank 174,265 11.13 % 70,433 4.5 % $ 101,736 6.5 % Total risk based capital ratio Consolidated 197,751 12.61 % 125,447 8.0 % N/A N/A Bank 185,584 11.86 % 125,214 8.0 % 156,517 10.0 % Tier I risk based capital ratio Consolidated 186,432 11.89 % 94,085 6.0 % N/A N/A Bank 174,265 11.13 % 93,910 6.0 % 125,214 8.0 % Tier I leverage ratio Consolidated 186,432 9.47 % 78,762 4.0 % N/A N/A Bank 174,265 8.91 % 78,271 4.0 % 97,839 5.0 % December 31, 2016 Common equity tier 1 capital ratio Consolidated $ 180,475 11.69 % $ 69,474 4.5 % N/A N/A Bank 171,064 11.12 % 69,244 4.5 % $ 100,020 6.5 % Total risk based capital ratio Consolidated 193,487 12.53 % 123,509 8.0 % N/A N/A Bank 181,916 11.82 % 123,101 8.0 % 153,877 10.0 % Tier I risk based capital ratio Consolidated 182,635 11.83 % 92,632 6.0 % N/A N/A Bank 171,064 11.12 % 92,326 6.0 % 123,101 8.0 % Tier I leverage ratio Consolidated 182,635 9.41 % 77,596 4.0 % N/A N/A Bank 171,064 8.91 % 76,792 4.0 % 95,990 5.0 % |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Fair Value Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1 – Quoted prices (unadjusted) 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 a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Investment Securities: The Company uses a third party service to estimate fair value on available for sale securities on a monthly basis. This service provider is considered a leading evaluation pricing service for U.S. domestic fixed income securities. They subscribe to multiple third-party pricing vendors, and supplement that information with matrix pricing methods. The fair values for investment securities are determined by quoted market prices in active markets, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on quoted prices for similar assets in active markets, quoted prices for similar assets in markets that are not active or inputs other than quoted prices, which provide a reasonable basis for fair value determination. Such inputs may include interest rates and yield curves, volatilities, prepayment speeds, credit risks and default rates. Inputs used are derived principally from observable market data (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). The fair values of Level 3 investment securities are determined by using unobservable inputs to measure fair value of assets for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based on the best information at the time, to the extent that inputs are available without undue cost and effort. For the period ended March 31, 2017 and for the year ended December 31, 2016, the fair value of Level 3 investment securities was immaterial. Derivative Instruments: The fair values of derivative instruments are based on valuation models using observable market data as of the measurement date (Level 2). Impaired Loans: At the time loans are considered impaired, collateral dependent impaired loans are valued at the lower of cost or fair value and non-collateral dependent loans are valued based on discounted cash flows. Impaired loans carried at fair value generally receive specific allocations of the allowance for loan losses. For collateral dependent loans fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Other Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair values are commonly based on recent real estate appraisals. These appraisals may use a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial and commercial real estate properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Appraisal Department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On an annual basis, the Company compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what adjustments should be made to appraisals to arrive at fair value. Assets measured at fair value on a recurring basis are summarized below: Fair Value Measurements at March 31, 2017 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Investment securities available-for sale U.S. Treasury and U.S. government sponsored entities $ 5,422 $ 0 $ 5,422 $ 0 State and political subdivisions 165,025 0 165,025 0 Corporate bonds 1,041 0 1,041 0 Mortgage-backed securities-residential 169,178 0 169,167 11 Collateralized mortgage obligations 19,811 0 19,811 0 Small Business Administration 16,241 0 16,241 0 Equity securities 354 354 0 0 Total investment securities $ 377,072 $ 354 $ 376,707 $ 11 Loan yield maintenance provisions $ 629 $ 0 $ 629 $ 0 Financial Liabilities Interest rate swaps $ 629 $ 0 $ 629 $ 0 Fair Value Measurements at December 31, 2016 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Investment securities available-for sale U.S. Treasury and U.S. government sponsored entities $ 5,921 $ 0 $ 5,921 $ 0 State and political subdivisions 155,303 0 155,303 0 Corporate bonds 1,339 0 1,339 0 Mortgage-backed securities-residential 169,682 0 169,670 12 Collateralized mortgage obligations 20,693 0 20,693 0 Small Business Administration 16,706 0 16,706 0 Equity securities 351 351 0 0 Total investment securities $ 369,995 $ 351 $ 369,632 $ 12 Loan yield maintenance provisions $ 685 $ 0 $ 685 $ 0 Financial Liabilities Interest rate swaps $ 685 $ 0 $ 685 $ 0 There were no significant transfers between Level 1 and Level 2 during the three month periods ended March 31, 2017 and 2016. For additional information related to yield maintenance provisions and interest rate swaps see Interest –Rate Swaps note. The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Three Months ended March 31, (In Thousands of Dollars) 2017 2016 Beginning Balance $ 12 $ 15 Total unrealized gains or losses: Included in other comprehensive income 0 0 Repayments, calls and maturities (1 ) (1 ) Ending Balance $ 11 $ 14 Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at March 31, 2017 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Impaired loans Commercial real estate Owner occupied $ 23 $ 0 $ 0 $ 23 1–4 family residential 139 0 0 139 Consumer 3 0 0 3 Other real estate owned 1–4 family residential 16 0 0 16 Fair Value Measurements at December 31, 2016 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Impaired loans Commercial real estate Owner occupied $ 23 $ 0 $ 0 $ 23 Farmland 339 0 0 339 Commercial Agricultural 113 0 0 113 1–4 family residential 77 0 0 77 Consumer 2 0 0 2 Other real estate owned 1–4 family residential 16 0 0 16 Impaired loans that are measured for impairment using the fair value of the collateral for collateral dependent loans, had a principal balance of $188 thousand with a valuation allowance of $23 thousand at March 31, 2017, resulting in $4 thousand in additional provision for loan losses for the three month period. At December 31, 2016, impaired loans had a principal balance of $727 thousand, with a valuation allowance of $173 thousand. Loans measured at fair value at March 31, 2016 resulted in no additional provision for loan losses for the three month period ending March 31, 2016. Excluded from the fair value of impaired loans, at March 31, 2017 and December 31, 2016, discussed above are $2.0 million of loans classified as troubled debt restructurings and measured using the present value of cash flows, which is not considered an exit price. Impaired commercial real estate loans, both owner-occupied and non-owner occupied are valued by independent external appraisals. These external appraisals are prepared using the sales comparison approach and income approach valuation techniques. Management makes subsequent unobservable adjustments to the impaired loan appraisals. Impaired loans other than commercial real estate and other real estate owned are not considered material. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at the periods ended March 31, 2017 and December 31, 2016: March 31, 2017 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Commercial real estate $ 23 Sales Comparison Adjustment for differences between comparable sales (24.02%) Residential 139 Sales comparison Adjustment for differences between comparable sales (12.97%) - 14.22% (3.38%) Consumer 3 Sales comparison Adjustment for differences between comparable sales (15.97%) - 15.97% 0.00% Other Real Estate owned residential 16 Sales comparison Adjustment for differences between comparable sales (10.36%) - 17.10% (1.90%) December 31, 2016 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Commercial real estate $ 23 Sales comparison Adjustment for differences between comparable sales (24.02%) 339 Quoted price for loan relationship Offer price 35.77% Commercial 113 Quoted price for loan relationship Offer price 34.98% Residential 77 Sales comparison Adjustment for differences between comparable sales (12.97%) - 14.22% (3.38%) Consumer 2 Sales comparison Adjustment for differences between comparable sales (20.00%) - 20.00% (0.00%) Other Real Estate owned residential 16 Sales comparison Adjustment for differences between comparable sales (10.36%) - 17.10% (1.90%) The carrying amounts and estimated fair values of financial instruments not previously disclosed at March 31, 2017 and December 31, 2016 are as follows: Fair Value Measurements at March 31, 2017 Using: (In Thousands of Dollars) Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 61,251 $ 19,577 $ 41,674 $ 0 $ 61,251 Restricted stock 9,974 n/a n/a n/a n/a Loans held for sale 1,098 0 1,128 0 1,128 Loans, net 1,450,142 0 0 1,445,211 1,445,211 Mortgage servicing rights 928 0 928 0 928 Accrued interest receivable 5,797 0 2,032 3,765 5,797 Financial liabilities Deposits 1,540,220 1,306,295 230,755 0 1,537,050 Short-term borrowings 235,228 0 235,228 0 235,228 Long-term borrowings 9,841 0 9,798 0 9,798 Accrued interest payable 507 35 472 0 507 Fair Value Measurements at December 31, 2016 Using: (In Thousands of Dollars) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 41,778 $ 19,678 $ 22,100 $ 0 $ 41,778 Restricted stock 9,583 n/a n/a n/a n/a Loans held for sale 355 0 365 0 365 Loans, net 1,416,783 0 0 1,406,951 1,406,951 Mortgage servicing rights 854 0 854 0 854 Accrued interest receivable 5,504 0 1,924 3,580 5,504 Financial liabilities Deposits 1,524,756 1,289,037 232,410 0 1,521,447 Short-term borrowings 198,460 0 198,460 0 198,460 Long-term borrowings 15,036 0 15,009 0 15,009 Accrued interest payable 507 35 472 0 507 The methods and assumptions used to estimate fair value, not previously described, are described as follows: Cash and Cash Equivalents: The carrying amounts of cash and short-term instruments approximate fair values and are classified as either Level 1 or Level 2. The Company has determined that cash on hand and non-interest bearing due from bank accounts are Level 1 whereas interest bearing federal funds sold and other are Level 2. Restricted Stock: It is not practical to determine the fair value of restricted stock due to restrictions placed on its transferability. Loans: Fair values of loans, excluding loans held for sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. Loans held for sale: The fair value of loans held for sale is estimated based upon binding contracts and quotes from third party investors resulting in a Level 2 classification. Loan servicing rights: Fair value is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model utilizes interest rate, prepayment speed and default rate assumptions that market participants would use in estimating future net servicing income (Level 2). Accrued Interest Receivable/Payable: The carrying amounts of accrued interest receivable and payable approximate fair value resulting in a Level 1, Level 2 or Level 3 classification. The classification is the result of the association with securities, loans and deposits. Deposits: The fair values disclosed for demand deposits – interest and non-interest checking, passbook savings, and money market accounts – are, by definition, equal to the amount payable on demand at the reporting date resulting in a Level 1 classification. The carrying amounts of variable rate certificates of deposit approximate their fair values at the reporting date resulting in a Level 2 classification. Fair value for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. Short-term Borrowings: The carrying amounts of federal funds purchased, borrowings under repurchase agreements, and other short-term borrowings, generally maturing within ninety days, approximate their fair values resulting in a Level 2 classification. Long-term Borrowings: The fair values of the Company’s long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. Off-balance Sheet Instruments: The fair value of commitments is not considered material. |
Segment Information
Segment Information | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information: The reportable segments are determined by the products and services offered, primarily distinguished between banking, trust and retirement consulting operations. They are also distinguished by the level of information provided to the chief operating decision makers in the Company, who use such information to review performance of various components of the business, which are then aggregated. Loans, investments, and deposits provide the revenues in the banking operation. All operations are domestic. Significant segment totals are reconciled to the financial statements as follows: (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals March 31, 2017 Assets Goodwill and other intangibles $ 4,617 $ 37,994 $ 2,824 $ (646 ) $ 44,789 Total assets $ 11,225 $ 2,009,727 $ 3,590 $ 1,945 $ 2,026,487 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals December 31, 2016 Goodwill and other intangibles $ 4,681 $ 38,235 $ 2,884 $ (646 ) $ 45,154 Total assets $ 10,980 $ 1,948,800 $ 3,528 $ 2,805 $ 1,966,113 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended March 31, 2017 Net interest income $ 26 $ 17,525 $ 0 $ (20 ) $ 17,531 Provision for loan losses 0 1,050 0 0 1,050 Service fees, security gains and other noninterest income 1,678 3,769 513 (73 ) 5,887 Noninterest expense 1,199 12,120 372 43 13,734 Amortization and depreciation expense 69 735 63 12 879 Income before taxes 436 7,389 78 (148 ) 7,755 Income taxes 152 1,937 27 (144 ) 1,972 Net Income $ 284 $ 5,452 $ 51 $ (4 ) $ 5,783 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended March 31, 2016 Net interest income $ 20 $ 16,747 $ 0 $ (20 ) $ 16,747 Provision for loan losses 0 780 0 0 780 Service fees, security gains and other noninterest income 1,521 2,961 489 (25 ) 4,946 Noninterest expense 1,152 11,627 371 390 13,540 Amortization and depreciation expense 76 714 89 25 904 Income before taxes 313 6,587 29 (460 ) 6,469 Income taxes 107 1,696 10 (142 ) 1,671 Net Income $ 206 $ 4,891 $ 19 $ (318 ) $ 4,798 The Bank segment includes Farmers National Insurance and Farmers of Canfield Investment Co. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets: Goodwill associated with the Bank’s purchase of the Bowers group in June 2016 and the Company’s purchase of NBOH in June 2015, Tri-State in October 2015, NAI in July of 2013 and Trust in 2009 totaled $37.2 million at March 31, 2017 and $37.2 million at December 31, 2016. The Bowers group acquisition is more fully described in the Business Acquisitions footnote. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value, which is determined through a two-step impairment test. Management performs goodwill impairment testing on an annual basis as of September 30. The fair value of the reporting unit is determined based on a discounted cash flow model. Acquired Intangible Assets Acquired intangible assets were as follows: March 31, 2017 December 31, 2016 (In Thousands of Dollars) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets: Customer relationship intangibles $ 7,210 $ (4,420 ) $ 7,210 $ (4,253 ) Non-compete contracts 430 (362 ) 430 (357 ) Trade name 520 (129 ) 520 (113 ) Core deposit intangible 5,582 (1,206 ) 5,582 (1,029 ) Total $ 13,742 $ (6,117 ) $ 13,742 $ (5,752 ) Aggregate amortization expense was $365 thousand Estimated amortization expense for each of the next five periods and thereafter: 2017 (Nine months) $ 1,094 2018 1,334 2019 1,222 2020 1,119 2021 1,058 Thereafter 1,798 TOTAL $ 7,625 |
Short-term Borrowings
Short-term Borrowings | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Short-term Borrowings | Short-term borrowings: There were $150 million in short-term Federal Home Loan Bank Advances at March 31, 2017 with a weighted average interest rate of 0.89%. Short-term Federal Home Loan Bank Advances were $120 million at December 31, 2016. The Company had $84.9 million and $78.1 million in securities sold under repurchase agreements for the periods ended March 31, 2017 and December 31, 2016, respectively. In addition, the Company had no Federal funds purchased and has a $350 thousand balance on business lines of credit with one lending institution at March 31, 2017 and December 31, 2016. The following table provides a disaggregation of the obligation by the class of collateral pledged for short-term financing obtained through the sales of repurchase agreements: (In Thousands of Dollars) March 31, 2017 December 31, 2016 Overnight and continuous repurchase agreements U.S. Treasury and U.S. government sponsored entities $ 6,903 $ 6,555 State and political subdivisions 12,378 12,304 Mortgage-backed securities - residential 58,604 52,628 Collateralized mortgage obligations - residential 6,993 6,623 Total repurchase agreements $ 84,878 $ 78,110 Management believes the risks associated with the agreements are minimal and, in the case of collateral decline, the Company has additional investment securities available to adequately pledge as guarantees for the repurchase agreements. |
Summary of Significant Accoun24
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation: Farmers National Banc Corp. (“Company”) is a Financial Holding Company registered under the Bank Holding Company Act of 1956, as amended. The Company provides full banking services through its nationally chartered subsidiary, The Farmers National Bank of Canfield (“Bank”). The Bank acquired Bowers Insurance Agency, Inc. (“Bowers”) and the Bowers with during 2016. st st |
Basis of Presentation | Basis of Presentation: The unaudited condensed consolidated financial statements have been prepared in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2016 Annual Report to Shareholders included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. The interim consolidated financial statements include all adjustments (consisting of only normal recurring items) that, in the opinion of management, are necessary for a fair presentation of the financial position and results of operations for the periods presented. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year. Certain items included in the prior period financial statements were reclassified to conform to the current period presentation. There was no effect on net income or total stockholders’ equity. |
Estimates | Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Segments | Segments: The Company provides a broad range of financial services to individuals and companies in northeastern Ohio. Operations are managed and financial performance is primarily aggregated and reported in three lines of business, the Bank segment, the Trust segment and the Retirement Consulting segment. |
Comprehensive Income | Comprehensive Income: Comprehensive income consists of net income and other comprehensive income. Other comprehensive income consists of unrealized gains and losses on securities available for sale and changes in the funded status of the post-retirement health plan, which are recognized as separate components of equity, net of tax effects. For all periods presented there was no change in the funded status of the post-retirement health plan. |
New Accounting Standards | New Accounting Standards: During April of 2017, the FASB issued ASU 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities I n January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU eliminates Step 2 from the goodwill impairment test. Instead, under the new guidance, an entity is to perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge would be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of this guidance is not expected to have an impact on the Company's Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13: Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09: Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, FASB issued ASU 2016-02 (Topic 842): Leases In January 2016, FASB issued ASU 2016-01: Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In May 2014, FASB issued ASU 2014-09: Revenue from Contracts with Customers (Topic 606). specifically, deposit fees, trust income and retirement consulting income. |
Business Combinations (Tables)
Business Combinations (Tables) - Bowers Insurance Agency, Inc. | 3 Months Ended |
Mar. 31, 2017 | |
Summary of Consideration Paid and Amounts of Assets Acquired and Liabilities Assumed | The following table summarizes the consideration paid for Bowers and the amounts of the assets acquired and liabilities assumed on the closing date of the acquisition. (In Thousands of Dollars) Consideration Cash $ 1,137 Stock 1,138 Contingent consideration 880 Fair value of total consideration transferred $ 3,155 Fair value of assets acquired Cash $ 64 Premises and equipment 290 Other assets 34 Total assets acquired 388 Fair value of liabilities assumed 124 Net assets acquired $ 264 Assets and liabilities arising from acquisition Identified intangible assets 1,630 Deferred tax liability (588 ) Goodwill created 1,849 Total net assets acquired $ 3,155 |
Pro Forma Information | The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effective on the assumed date. For Three Months Ended March 31, (In thousands of dollars except per share results) 2016 Net interest income $ 16,747 Net income $ 4,810 Basic and diluted earnings per share $ 0.18 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of the Amortized Cost and Fair Value of Available-for-Sale Investment Securities Corresponding Amounts of Unrealized Gains and Losses | The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolio at March 31, 2017 and December 31, 2016 and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income: Gross Gross (In Thousands of Dollars) Amortized Unrealized Unrealized Cost Gains Losses Fair Value March 31, 2017 U.S. Treasury and U.S. government sponsored entities $ 5,467 $ 4 $ (49 ) $ 5,422 State and political subdivisions 166,479 1,108 (2,562 ) 165,025 Corporate bonds 1,042 5 (6 ) 1,041 Mortgage-backed securities - residential 170,675 567 (2,064 ) 169,178 Collateralized mortgage obligations - residential 20,504 2 (695 ) 19,811 Small Business Administration 16,720 0 (479 ) 16,241 Equity securities 171 184 (1 ) 354 Totals $ 381,058 $ 1,870 $ (5,856 ) $ 377,072 Gross Gross (In Thousands of Dollars) Amortized Unrealized Unrealized Cost Gains Losses Fair Value December 31, 2016 U.S. Treasury and U.S. government sponsored entities $ 5,970 $ 5 $ (54 ) $ 5,921 State and political subdivisions 157,014 1,049 (2,760 ) 155,303 Corporate bonds 1,343 4 (8 ) 1,339 Mortgage-backed securities - residential 171,215 1,019 (2,552 ) 169,682 Collateralized mortgage obligations - residential 21,397 1 (705 ) 20,693 Small Business Administration 17,236 0 (530 ) 16,706 Equity securities 168 185 (2 ) 351 Totals $ 374,343 $ 2,263 $ (6,611 ) $ 369,995 |
Amortized Cost and Fair Value of the Debt Securities Maturity | The amortized cost and fair value of the debt securities portfolio are shown by expected maturity. Expected maturities may differ from contractual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. March 31, 2017 (In Thousands of Dollars) Amortized Cost Fair Value Maturity Within one year $ 11,743 $ 11,754 One to five years 52,051 52,432 Five to ten years 88,905 87,286 Beyond ten years 20,289 20,016 Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities 207,899 205,230 Total $ 380,887 $ 376,718 |
Investment Securities with Unrealized Losses | The following table summarizes the investment securities with unrealized losses at March 31, 2017 and December 31, 2016, aggregated by major security type and length of time in a continuous unrealized loss position. Less than 12 Months 12 Months or Longer Total (In Thousands of Dollars) Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss March 31, 2017 Available-for-sale U.S. Treasury and U.S. government sponsored entities $ 4,719 $ (49 ) $ 0 $ 0 $ 4,719 $ (49 ) State and political subdivisions 68,787 (2,549 ) 286 (13 ) 69,073 (2,562 ) Corporate bonds 486 (6 ) 0 0 486 (6 ) Mortgage-backed securities - residential 80,341 (1,902 ) 8,841 (162 ) 89,182 (2,064 ) Collateralized mortgage obligations - residential 7,568 (118 ) 10,573 (577 ) 18,141 (695 ) Small Business Administration 8,420 (192 ) 7,778 (287 ) 16,198 (479 ) Equity securities 33 (1 ) 0 0 33 (1 ) Total $ 170,354 $ (4,817 ) $ 27,478 $ (1,039 ) $ 197,832 $ (5,856 ) Less than 12 Months 12 Months or Longer Total (In Thousands of Dollars) Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2016 Available-for-sale U.S. Treasury and U.S. government sponsored entities $ 4,015 $ (54 ) $ 502 $ 0 $ 4,517 $ (54 ) State and political subdivisions 92,560 (2,745 ) 286 (15 ) 92,846 (2,760 ) Corporate bonds 786 (8 ) 0 0 786 (8 ) Mortgage-backed securities - residential 98,348 (1,823 ) 29,743 (729 ) 128,091 (2,552 ) Collateralized mortgage obligations - residential 7,956 (108 ) 10,972 (597 ) 18,928 (705 ) Small Business Administration 8,770 (205 ) 7,890 (325 ) 16,660 (530 ) Equity securities 44 (2 ) 0 0 44 (2 ) Total $ 212,479 $ (4,945 ) $ 49,393 $ (1,666 ) $ 261,872 $ (6,611 ) |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Schedule of Loan Balances | Loan balances were as follows: (In Thousands of Dollars) March 31, 2017 December 31, 2016 Originated loans: Commercial real estate Owner occupied $ 116,108 $ 109,750 Non-owner occupied 165,916 165,861 Farmland 41,157 34,155 Other 77,456 70,823 Commercial Commercial and industrial 178,194 171,145 Agricultural 26,564 24,598 Residential real estate 1-4 family residential 237,841 224,222 Home equity lines of credit 62,593 59,642 Consumer Indirect 161,596 156,633 Direct 27,835 26,663 Other 7,517 7,611 Total originated loans $ 1,102,777 $ 1,051,103 Acquired loans: Commercial real estate Owner occupied $ 59,376 $ 60,928 Non-owner occupied 23,931 24,949 Farmland 51,315 54,204 Other 14,130 14,665 Commercial Commercial and industrial 30,719 33,626 Agricultural 14,832 16,024 Residential real estate 1-4 family residential 107,502 112,015 Home equity lines of credit 33,657 34,795 Consumer Direct 19,543 21,681 Other 157 247 Total acquired loans $ 355,162 $ 373,134 Net Deferred loan costs 3,522 3,398 Allowance for loan losses (11,319 ) (10,852 ) Net loans $ 1,450,142 $ 1,416,783 |
Purchased Credit Impaired Loans | As part of the NBOH acquisition the Company acquired various loans that displayed evidence of deterioration of credit quality since origination and which was probable that all contractually required payments would not be collected. The carrying amounts and contractually required payments of these loans which are included in the loan balances above are summarized in the following tables: (In Thousands of Dollars) March 31, 2017 December 31, 2016 Commercial real estate Owner occupied $ 662 $ 689 Non-owner occupied 410 436 Commercial Commercial and industrial 1,171 1,213 Total outstanding balance $ 2,243 $ 2,338 Carrying amount, net of allowance of $0 in 2017 and 2016 $ 1,790 $ 1,864 |
Schedule of Accretable Yield or Income Expected to be Collected | Accretable yield, or income expected to be collected, is shown in the table below: (In Thousands of Dollars) Three Months Ended March 31, 2017 Beginning balance $ 247 New loans purchased 0 Accretion of income (19 ) Ending balance $ 228 |
Activity in the Allowance for Loan Losses by Portfolio Segment | The following tables present the activity in the allowance for loan losses by portfolio segment for the three month periods ended March 31, 2017 and 2016: Three Months Ended March 31, 2017 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 3,577 $ 1,874 $ 2,205 $ 2,766 $ 430 $ 10,852 Provision for loan losses 77 17 109 576 271 1,050 Loans charged off (140 ) (102 ) (6 ) (695 ) 0 (943 ) Recoveries 124 57 13 166 0 360 Total ending allowance balance $ 3,638 $ 1,846 $ 2,321 $ 2,813 $ 701 $ 11,319 Three Months Ended March 31, 2016 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 3,127 $ 1,373 $ 1,845 $ 2,160 $ 473 $ 8,978 Provision for loan losses 43 64 75 446 152 780 Loans charged off 0 0 (34 ) (544 ) 0 (578 ) Recoveries 11 15 28 156 0 210 Total ending allowance balance $ 3,181 $ 1,452 $ 1,914 $ 2,218 $ 625 $ 9,390 |
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment, Based on Impairment Method | The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment, based on impairment method as of March 31, 2017 and December 31, 2016. The recorded investment in loans includes the unpaid principal balance and unamortized loan origination fees and costs, but excludes accrued interest receivable, which is not considered to be material: March 31, 2017 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 35 $ 4 $ 56 $ 0 $ 0 $ 95 Collectively evaluated for impairment 3,603 1,842 2,259 2,813 701 11,218 Acquired loans 0 0 6 0 0 6 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 3,638 $ 1,846 $ 2,321 $ 2,813 $ 701 $ 11,319 Loans: Loans individually evaluated for impairment $ 2,306 $ 336 $ 3,601 $ 52 $ 0 $ 6,295 Loans collectively evaluated for impairment 397,475 204,206 296,612 202,328 0 1,100,621 Acquired loans 147,563 44,608 140,883 19,701 0 352,755 Acquired with deteriorated credit quality 928 862 0 0 0 1,790 Total ending loans balance $ 548,272 $ 250,012 $ 441,096 $ 222,081 $ 0 $ 1,461,461 December 31, 2016 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 44 $ 4 $ 48 $ 0 $ 0 $ 96 Collectively evaluated for impairment 3,491 1,763 2,153 2,766 430 10,603 Acquired loans 42 107 4 0 0 153 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 3,577 $ 1,874 $ 2,205 $ 2,766 $ 430 $ 10,852 Loans: Loans individually evaluated for impairment $ 3,457 $ 477 $ 3,308 $ 96 $ 0 $ 7,338 Loans collectively evaluated for impairment 376,632 195,146 280,215 196,081 0 1,048,074 Acquired loans 153,228 48,536 146,672 21,923 0 370,359 Acquired with deteriorated credit quality 968 896 0 0 0 1,864 Total ending loans balance $ 534,285 $ 245,055 $ 430,195 $ 218,100 $ 0 $ 1,427,635 |
Loans Individually Evaluated for Impairment by Class of Loans | The following tables present information related to impaired loans by class of loans as of March 31, 2017 and December 31, 2016: (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated March 31, 2017 With no related allowance recorded: Commercial real estate Owner occupied $ 1,443 $ 926 $ 0 Non-owner occupied 18 18 0 Farmland 94 93 0 Commercial Commercial and industrial 204 183 0 Agricultural 126 80 0 Residential real estate 1-4 family residential 2,649 2,401 0 Home equity lines of credit 345 326 0 Consumer 127 52 0 Subtotal 5,006 4,079 0 With an allowance recorded: Commercial real estate Owner occupied 167 167 9 Non-owner occupied 1,102 1,102 26 Farmland 0 0 0 Commercial Commercial and industrial 73 73 4 Agricultural 0 0 0 Residential real estate 1-4 family residential 813 791 61 Home equity lines of credit 83 83 1 Subtotal 2,238 2,216 101 Total $ 7,244 $ 6,295 $ 101 (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated December 31, 2016 With no related allowance recorded: Commercial real estate Owner occupied $ 1,974 $ 1,456 $ 0 Non-owner occupied 332 331 0 Commercial Commercial and industrial 205 184 0 Residential real estate 1-4 family residential 2,650 2,403 0 Home equity lines of credit 195 179 0 Consumer 205 96 0 Subtotal 5,561 4,649 0 With an allowance recorded: Commercial real estate Owner occupied 173 173 14 Non-owner occupied 1,118 1,118 30 Farmland 380 379 42 Commercial Commercial and industrial 75 75 4 Agricultural 219 218 107 Residential real estate 1-4 family residential 661 642 51 Home equity lines of credit 84 84 1 Subtotal 2,710 2,689 249 Total $ 8,271 $ 7,338 $ 249 The following tables present the average recorded investment in impaired loans by class and interest income recognized by loan class for the three month periods ended March 31, 2017 and 2016: Average Recorded Investment Interest Income Recognized For Three Months Ended March 31, For Three Months Ended March 31, (In Thousands of Dollars) 2017 2016 2017 2016 With no related allowance recorded: Commercial real estate Owner occupied $ 1,051 $ 2,307 $ 2 $ 10 Non-owner occupied 226 336 0 4 Commercial Commercial and industrial 210 614 1 5 Residential real estate 1-4 family residential 2,380 2,292 37 38 Home equity lines of credit 227 240 4 3 Consumer 74 116 3 3 Subtotal 4,168 5,905 47 63 With an allowance recorded: Commercial real estate Owner occupied 422 1,589 2 9 Non-owner occupied 1,107 1,469 14 19 Commercial Commercial and industrial 273 80 1 1 Residential real estate 1-4 family residential 773 749 8 9 Home equity lines of credit 82 86 1 1 Consumer 1 0 0 0 Subtotal 2,658 3,973 26 39 Total $ 6,826 $ 9,878 $ 73 $ 102 |
Schedule of Investment in Nonaccrual and Loans Past Due 90 Days or More Still on Accrual by Class of Loans | The following table presents the recorded investment in nonaccrual and loans past due 90 days or more still on accrual by class of loans as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 (In Thousands of Dollars) Nonaccrual Loans Past Due 90 Days or More Still Accruing Nonaccrual Loans Past Due 90 Days or More Still Accruing Originated loans: Commercial real estate Owner occupied $ 806 $ 0 $ 958 $ 0 Non-owner occupied 17 0 343 0 Farmland 55 0 58 0 Commercial Commercial and industrial 309 40 400 0 Agricultural 3 0 12 0 Residential real estate 1-4 family residential 1,857 467 1,929 295 Home equity lines of credit 196 85 202 118 Consumer Indirect 368 262 298 438 Direct 7 0 9 65 Other 0 18 0 16 Total originated loans $ 3,618 $ 872 $ 4,209 $ 932 Acquired loans: Commercial real estate Owner occupied $ 59 $ 0 $ 85 $ 0 Other 8 0 24 0 Farmland 93 0 380 0 Commercial Commercial and industrial 894 0 961 0 Agricultural 98 0 236 0 Residential real estate 1-4 family residential 370 156 386 545 Home equity lines of credit 124 86 119 109 Consumer Direct 94 81 89 95 Total acquired loans $ 1,740 $ 323 $ 2,280 $ 749 Total loans $ 5,358 $ 1,195 $ 6,489 $ 1,681 |
Schedule of Investment in Past Due Loans | The following tables present the aging of the recorded investment in past due loans as of March 31, 2017 and December 31, 2016 by class of loans: (In Thousands of Dollars) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due and Nonaccrual Total Past Due Loans Not Past Due Total March 31, 2017 Originated loans: Commercial real estate Owner occupied $ 176 $ 0 $ 806 $ 982 $ 114,795 $ 115,777 Non-owner occupied 0 0 17 17 165,456 165,473 Farmland 0 0 55 55 41,057 41,112 Other 0 0 0 0 77,156 77,156 Commercial Commercial and industrial 0 143 349 492 177,325 177,817 Agricultural 38 0 3 41 26,603 26,644 Residential real estate 1-4 family residential 2,066 556 2,324 4,946 232,357 237,303 Home equity lines of credit 63 84 281 428 62,203 62,631 Consumer Indirect 1,850 359 630 2,839 163,990 166,829 Direct 554 119 7 680 27,356 28,036 Other 29 10 18 57 7,460 7,517 Total originated loans: $ 4,776 $ 1,271 $ 4,490 $ 10,537 $ 1,095,758 $ 1,106,295 Acquired loans: Commercial real estate Owner occupied $ 0 $ 0 $ 59 $ 59 $ 59,317 $ 59,376 Non-owner occupied 65 200 0 265 23,666 23,931 Farmland 0 0 93 93 51,222 51,315 Other 0 0 8 8 14,124 14,132 Commercial Commercial and industrial 65 0 894 959 29,760 30,719 Agricultural 195 0 98 293 14,539 14,832 Residential real estate 1-4 family residential 664 299 526 1,489 106,015 107,504 Home equity lines of credit 126 113 210 449 33,209 33,658 Consumer Direct 426 58 175 659 18,884 19,543 Other 0 0 0 0 156 156 Total acquired loans $ 1,541 $ 670 $ 2,063 $ 4,274 $ 350,892 $ 355,166 Total loans $ 6,317 $ 1,941 $ 6,553 $ 14,811 $ 1,446,650 $ 1,461,461 (In Thousands of Dollars) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due and Nonaccrual Total Past Due Loans Not Past Due Total December 31, 2016 Originated loans: Commercial real estate Owner occupied $ 0 $ 0 $ 958 $ 958 $ 108,475 $ 109,433 Non-owner occupied 0 0 343 343 165,105 165,448 Farmland 0 0 58 58 34,057 34,115 Other 0 0 0 0 70,542 70,542 Commercial Commercial and industrial 90 0 400 490 170,242 170,732 Agricultural 0 29 12 41 24,632 24,673 Residential real estate 1-4 family residential 3,368 356 2,224 5,948 217,752 223,700 Home equity lines of credit 77 37 320 434 59,248 59,682 Consumer Indirect 2,844 696 736 4,276 157,437 161,713 Direct 744 213 74 1,031 25,815 26,846 Other 92 28 16 136 7,476 7,612 Total originated loans $ 7,215 $ 1,359 $ 5,141 $ 13,715 $ 1,040,781 $ 1,054,496 Acquired loans: Commercial real estate Owner occupied $ 8 $ 205 $ 85 $ 298 $ 60,630 $ 60,928 Non-owner occupied 134 0 0 134 24,815 24,949 Farmland 83 0 380 463 53,741 54,204 Other 0 0 24 24 14,642 14,666 Commercial Commercial and industrial 278 0 961 1,239 32,387 33,626 Agricultural 21 0 236 257 15,767 16,024 Residential real estate 1-4 family residential 1,556 504 931 2,991 109,027 112,018 Home equity lines of credit 152 9 228 389 34,406 34,795 Consumer Direct 938 184 184 1,306 20,376 21,682 Other 100 0 0 100 147 247 Total acquired loans $ 3,270 $ 902 $ 3,029 $ 7,201 $ 365,938 $ 373,139 Total loans $ 10,485 $ 2,261 $ 8,170 $ 20,916 $ 1,406,719 $ 1,427,635 |
Troubled Debt Restructurings (T
Troubled Debt Restructurings (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Loans By Class Modified as Troubled Debt Restructurings | The following table presents loans by class modified as troubled debt restructurings that occurred during the three month periods ended March 31, 2017 and 2016: Pre-Modification Post-Modification Three Months Ended March 31, 2017 Number of Outstanding Recorded Outstanding Recorded (In thousands of Dollars) Loans Investment Investment Originated loans: Residential real estate 1-4 family residential 6 $ 284 $ 287 Home equity lines of credit 5 94 94 Indirect 4 16 16 Total originated loans 15 $ 394 $ 397 Acquired loans: Residential real estate Home equity lines of credit 1 57 57 Total acquired loans 1 $ 57 $ 57 Total loans 16 $ 451 $ 454 Pre-Modification Post-Modification Three Months Ended March 31, 2016 Number of Outstanding Recorded Outstanding Recorded (In Thousands of Dollars) Loans Investment Investment Originated loans: Residential real estate 1-4 family residential 3 $ 47 $ 48 Indirect 8 77 77 Consumer 0 0 0 Total originated loans 11 $ 124 $ 125 Acquired loans: Consumer 1 33 33 Total acquired loans 1 $ 33 $ 33 Total loans 12 $ 157 $ 158 |
Credit Quality Indicators (Tabl
Credit Quality Indicators (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Risks And Uncertainties [Abstract] | |
Risk Category of Loans by Class of Loans | As of March 31, 2017 and December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: (In Thousands of Dollars) Pass Special Mention Sub standard Total March 31, 2017 Originated loans: Commercial real estate Owner occupied $ 113,362 $ 481 $ 1,934 $ 115,777 Non-owner occupied 164,806 508 159 165,473 Farmland 41,009 47 56 41,112 Other 76,529 363 264 77,156 Commercial Commercial and industrial 174,556 2,332 929 177,817 Agricultural 26,348 252 44 26,644 Total originated loans $ 596,610 $ 3,983 $ 3,386 $ 603,979 Acquired loans: Commercial real estate Owner occupied $ 57,248 $ 493 $ 1,635 $ 59,376 Non-owner occupied 22,397 1,163 371 23,931 Farmland 50,451 0 864 51,315 Other 12,972 1,036 124 14,132 Commercial Commercial and industrial 27,606 290 2,823 30,719 Agricultural 13,820 722 290 14,832 Total acquired loans $ 184,494 $ 3,704 $ 6,107 $ 194,305 Total loans $ 781,104 $ 7,687 $ 9,493 $ 798,284 (In Thousands of Dollars) Pass Special Mention Sub standard Total December 31, 2016 Originated loans: Commercial real estate Owner occupied $ 106,448 $ 490 $ 2,495 $ 109,433 Non-owner occupied 162,465 522 2,461 165,448 Farmland 34,057 0 58 34,115 Other 69,947 325 270 70,542 Commercial Commercial and industrial 167,062 2,720 950 170,732 Agricultural 24,395 253 25 24,673 Total originated loans $ 564,374 $ 4,310 $ 6,259 $ 574,943 Acquired loans: Commercial real estate Owner occupied $ 58,655 $ 707 $ 1,566 $ 60,928 Non-owner occupied 23,577 1,195 177 24,949 Farmland 53,039 0 1,165 54,204 Other 14,060 464 142 14,666 Commercial Commercial and industrial 30,543 311 2,772 33,626 Agricultural 14,856 685 483 16,024 Total acquired loans $ 194,730 $ 3,362 $ 6,305 $ 204,397 Total loans $ 759,104 $ 7,672 $ 12,564 $ 779,340 |
Investment in Residential, Consumer and Indirect Auto Loans Based on Payment Activity | The following tables present the recorded investment in residential, consumer indirect and direct auto loans based on payment activity as of March 31, 2017 and December 31, 2016. Nonperforming loans are loans past due 90 days or more and still accruing interest and nonaccrual loans. Residential Real Estate Consumer (In Thousands of Dollars) 1-4 Family Residential Home Equity Lines of Credit Indirect Direct Other March 31, 2017 Originated loans: Performing $ 234,979 $ 62,350 $ 166,199 $ 28,029 $ 7,499 Nonperforming 2,324 281 630 7 18 Total originated loans $ 237,303 $ 62,631 $ 166,829 $ 28,036 $ 7,517 Acquired loans: Performing $ 106,978 $ 33,448 $ 0 $ 19,368 $ 156 Nonperforming 526 210 0 175 0 Total acquired loans 107,504 33,658 0 19,543 156 Total loans $ 344,807 $ 96,289 $ 166,829 $ 47,579 $ 7,673 Residential Real Estate Consumer (In Thousands of Dollars) 1-4 Family Residential Home Equity Lines of Credit Indirect Direct Other December 31, 2016 Originated loans: Performing $ 221,476 $ 59,362 $ 160,977 $ 26,772 $ 7,596 Nonperforming 2,224 320 736 74 16 Total originated loans $ 223,700 $ 59,682 $ 161,713 $ 26,846 $ 7,612 Acquired loans: Performing $ 111,087 $ 34,567 $ 0 $ 21,498 $ 247 Nonperforming 931 228 0 184 0 Total acquired loans 112,018 34,795 0 21,682 247 Total loans $ 335,718 $ 94,477 $ 161,713 $ 48,528 $ 7,859 |
Interest-Rate Swaps (Tables)
Interest-Rate Swaps (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary Information about Interest-Rate Swaps | Summary information about these interest-rate swaps at periods ended March 31, 2017 and December 31, 2016 is as follows: March 31, 2017 December 31, 2016 Notional amounts (In thousands) $ 32,303 $ 34,360 Weighted average pay rate on interest-rate swaps 4.36 % 4.34 % Weighted average receive rate on interest-rate swaps 3.26 % 3.04 % Weighted average maturity (years) 4.6 4.8 Fair value of combined interest-rate swaps (In thousands) $ 629 $ 685 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The computation of basic and diluted earnings per share is shown in the following table: Three Months Ended March 31, 2017 2016 Basic EPS Net income (In thousands) $ 5,783 $ 4,798 Weighted average shares outstanding 27,278,314 27,047,168 Basic earnings per share $ 0.21 $ 0.18 Diluted EPS Net income (In thousands) $ 5,783 $ 4,798 Weighted average shares outstanding for basic earnings per share 27,278,314 27,047,168 Dilutive effect of restricted stock awards 62,668 10,670 Weighted average shares for diluted earnings per share 27,340,982 27,057,838 Diluted earnings per share $ 0.21 $ 0.18 |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Award Activity under Plan | The following is the activity under the Plan during the three month period ended March 31, 2017. Three Months Ended March 31, 2017 Maximum Awarded Units Weighted Average Grant Value Beginning unvested units 499,390 $ 8.30 Granted 0 0 Vested (18,928 ) 7.00 Forfeited 0 0 Ending unvested units 480,462 $ 8.35 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Comprehensive Income Net Of Tax [Abstract] | |
Schedule of Other Comprehensive Income | The following table represents the details of other comprehensive income for the three month periods ended March 31, 2017 and 2016. Three Months Ended March 31, 2017 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains on available-for-sale securities during the period $ 375 $ (132 ) $ 243 Reclassification adjustment for (gains) included in net income (1) (13 ) 4 (9 ) Net unrealized gains on available-for-sale securities $ 362 $ (128 ) $ 234 Three Months Ended March 31, 2016 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains on available-for-sale securities during the period $ 3,357 $ (1,175 ) $ 2,182 Reclassification adjustment for (gains) losses included in net income (1) 0 0 0 Net unrealized gains on available-for-sale securities $ 3,357 $ (1,175 ) $ 2,182 (1) Pre-tax reclassification adjustments relating to available-for-sale securities are reported in security gains and the tax impact is included in income tax expense on the consolidated statements of income. |
Regulatory Capital Matters (Tab
Regulatory Capital Matters (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Regulatory Capital Requirements [Abstract] | |
Schedule of Actual and Required Capital Amounts and Ratios | Actual and required capital amounts and ratios are presented below at March 31, 2017 and December 31, 2016: Actual Requirement For Capital Adequacy Purposes: To be Well Capitalized Under Prompt Corrective Action Provisions: Amount Ratio Amount Ratio Amount Ratio March 31, 2017 Common equity tier 1 capital ratio Consolidated $ 184,259 11.75 % $ 70,564 4.5 % N/A N/A Bank 174,265 11.13 % 70,433 4.5 % $ 101,736 6.5 % Total risk based capital ratio Consolidated 197,751 12.61 % 125,447 8.0 % N/A N/A Bank 185,584 11.86 % 125,214 8.0 % 156,517 10.0 % Tier I risk based capital ratio Consolidated 186,432 11.89 % 94,085 6.0 % N/A N/A Bank 174,265 11.13 % 93,910 6.0 % 125,214 8.0 % Tier I leverage ratio Consolidated 186,432 9.47 % 78,762 4.0 % N/A N/A Bank 174,265 8.91 % 78,271 4.0 % 97,839 5.0 % December 31, 2016 Common equity tier 1 capital ratio Consolidated $ 180,475 11.69 % $ 69,474 4.5 % N/A N/A Bank 171,064 11.12 % 69,244 4.5 % $ 100,020 6.5 % Total risk based capital ratio Consolidated 193,487 12.53 % 123,509 8.0 % N/A N/A Bank 181,916 11.82 % 123,101 8.0 % 153,877 10.0 % Tier I risk based capital ratio Consolidated 182,635 11.83 % 92,632 6.0 % N/A N/A Bank 171,064 11.12 % 92,326 6.0 % 123,101 8.0 % Tier I leverage ratio Consolidated 182,635 9.41 % 77,596 4.0 % N/A N/A Bank 171,064 8.91 % 76,792 4.0 % 95,990 5.0 % |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Assets Measured at Fair Value on Recurring Basis | Assets measured at fair value on a recurring basis are summarized below: Fair Value Measurements at March 31, 2017 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Investment securities available-for sale U.S. Treasury and U.S. government sponsored entities $ 5,422 $ 0 $ 5,422 $ 0 State and political subdivisions 165,025 0 165,025 0 Corporate bonds 1,041 0 1,041 0 Mortgage-backed securities-residential 169,178 0 169,167 11 Collateralized mortgage obligations 19,811 0 19,811 0 Small Business Administration 16,241 0 16,241 0 Equity securities 354 354 0 0 Total investment securities $ 377,072 $ 354 $ 376,707 $ 11 Loan yield maintenance provisions $ 629 $ 0 $ 629 $ 0 Financial Liabilities Interest rate swaps $ 629 $ 0 $ 629 $ 0 Fair Value Measurements at December 31, 2016 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Investment securities available-for sale U.S. Treasury and U.S. government sponsored entities $ 5,921 $ 0 $ 5,921 $ 0 State and political subdivisions 155,303 0 155,303 0 Corporate bonds 1,339 0 1,339 0 Mortgage-backed securities-residential 169,682 0 169,670 12 Collateralized mortgage obligations 20,693 0 20,693 0 Small Business Administration 16,706 0 16,706 0 Equity securities 351 351 0 0 Total investment securities $ 369,995 $ 351 $ 369,632 $ 12 Loan yield maintenance provisions $ 685 $ 0 $ 685 $ 0 Financial Liabilities Interest rate swaps $ 685 $ 0 $ 685 $ 0 |
Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs | The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Three Months ended March 31, (In Thousands of Dollars) 2017 2016 Beginning Balance $ 12 $ 15 Total unrealized gains or losses: Included in other comprehensive income 0 0 Repayments, calls and maturities (1 ) (1 ) Ending Balance $ 11 $ 14 |
Assets Measured at Fair Value on Non-Recurring Basis | Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at March 31, 2017 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Impaired loans Commercial real estate Owner occupied $ 23 $ 0 $ 0 $ 23 1–4 family residential 139 0 0 139 Consumer 3 0 0 3 Other real estate owned 1–4 family residential 16 0 0 16 Fair Value Measurements at December 31, 2016 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Impaired loans Commercial real estate Owner occupied $ 23 $ 0 $ 0 $ 23 Farmland 339 0 0 339 Commercial Agricultural 113 0 0 113 1–4 family residential 77 0 0 77 Consumer 2 0 0 2 Other real estate owned 1–4 family residential 16 0 0 16 |
Fair Value Measurements for Financial Instruments | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at the periods ended March 31, 2017 and December 31, 2016: March 31, 2017 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Commercial real estate $ 23 Sales Comparison Adjustment for differences between comparable sales (24.02%) Residential 139 Sales comparison Adjustment for differences between comparable sales (12.97%) - 14.22% (3.38%) Consumer 3 Sales comparison Adjustment for differences between comparable sales (15.97%) - 15.97% 0.00% Other Real Estate owned residential 16 Sales comparison Adjustment for differences between comparable sales (10.36%) - 17.10% (1.90%) December 31, 2016 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Commercial real estate $ 23 Sales comparison Adjustment for differences between comparable sales (24.02%) 339 Quoted price for loan relationship Offer price 35.77% Commercial 113 Quoted price for loan relationship Offer price 34.98% Residential 77 Sales comparison Adjustment for differences between comparable sales (12.97%) - 14.22% (3.38%) Consumer 2 Sales comparison Adjustment for differences between comparable sales (20.00%) - 20.00% (0.00%) Other Real Estate owned residential 16 Sales comparison Adjustment for differences between comparable sales (10.36%) - 17.10% (1.90%) |
Carrying Amounts and Estimated Fair Values of Financial Instruments | The carrying amounts and estimated fair values of financial instruments not previously disclosed at March 31, 2017 and December 31, 2016 are as follows: Fair Value Measurements at March 31, 2017 Using: (In Thousands of Dollars) Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 61,251 $ 19,577 $ 41,674 $ 0 $ 61,251 Restricted stock 9,974 n/a n/a n/a n/a Loans held for sale 1,098 0 1,128 0 1,128 Loans, net 1,450,142 0 0 1,445,211 1,445,211 Mortgage servicing rights 928 0 928 0 928 Accrued interest receivable 5,797 0 2,032 3,765 5,797 Financial liabilities Deposits 1,540,220 1,306,295 230,755 0 1,537,050 Short-term borrowings 235,228 0 235,228 0 235,228 Long-term borrowings 9,841 0 9,798 0 9,798 Accrued interest payable 507 35 472 0 507 Fair Value Measurements at December 31, 2016 Using: (In Thousands of Dollars) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 41,778 $ 19,678 $ 22,100 $ 0 $ 41,778 Restricted stock 9,583 n/a n/a n/a n/a Loans held for sale 355 0 365 0 365 Loans, net 1,416,783 0 0 1,406,951 1,406,951 Mortgage servicing rights 854 0 854 0 854 Accrued interest receivable 5,504 0 1,924 3,580 5,504 Financial liabilities Deposits 1,524,756 1,289,037 232,410 0 1,521,447 Short-term borrowings 198,460 0 198,460 0 198,460 Long-term borrowings 15,036 0 15,009 0 15,009 Accrued interest payable 507 35 472 0 507 |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information | Significant segment totals are reconciled to the financial statements as follows: (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals March 31, 2017 Assets Goodwill and other intangibles $ 4,617 $ 37,994 $ 2,824 $ (646 ) $ 44,789 Total assets $ 11,225 $ 2,009,727 $ 3,590 $ 1,945 $ 2,026,487 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals December 31, 2016 Goodwill and other intangibles $ 4,681 $ 38,235 $ 2,884 $ (646 ) $ 45,154 Total assets $ 10,980 $ 1,948,800 $ 3,528 $ 2,805 $ 1,966,113 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended March 31, 2017 Net interest income $ 26 $ 17,525 $ 0 $ (20 ) $ 17,531 Provision for loan losses 0 1,050 0 0 1,050 Service fees, security gains and other noninterest income 1,678 3,769 513 (73 ) 5,887 Noninterest expense 1,199 12,120 372 43 13,734 Amortization and depreciation expense 69 735 63 12 879 Income before taxes 436 7,389 78 (148 ) 7,755 Income taxes 152 1,937 27 (144 ) 1,972 Net Income $ 284 $ 5,452 $ 51 $ (4 ) $ 5,783 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended March 31, 2016 Net interest income $ 20 $ 16,747 $ 0 $ (20 ) $ 16,747 Provision for loan losses 0 780 0 0 780 Service fees, security gains and other noninterest income 1,521 2,961 489 (25 ) 4,946 Noninterest expense 1,152 11,627 371 390 13,540 Amortization and depreciation expense 76 714 89 25 904 Income before taxes 313 6,587 29 (460 ) 6,469 Income taxes 107 1,696 10 (142 ) 1,671 Net Income $ 206 $ 4,891 $ 19 $ (318 ) $ 4,798 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Acquired Intangible Assets | Acquired intangible assets were as follows: March 31, 2017 December 31, 2016 (In Thousands of Dollars) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets: Customer relationship intangibles $ 7,210 $ (4,420 ) $ 7,210 $ (4,253 ) Non-compete contracts 430 (362 ) 430 (357 ) Trade name 520 (129 ) 520 (113 ) Core deposit intangible 5,582 (1,206 ) 5,582 (1,029 ) Total $ 13,742 $ (6,117 ) $ 13,742 $ (5,752 ) |
Estimated Amortization Expense | Estimated amortization expense for each of the next five periods and thereafter: 2017 (Nine months) $ 1,094 2018 1,334 2019 1,222 2020 1,119 2021 1,058 Thereafter 1,798 TOTAL $ 7,625 |
Short-term Borrowings (Tables)
Short-term Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Schedule Disaggregation of the Obligation by the Class of Collateral Pledged for Short-Term Financing Obtained Through the Sales of Repurchase Agreements | The following table provides a disaggregation of the obligation by the class of collateral pledged for short-term financing obtained through the sales of repurchase agreements: (In Thousands of Dollars) March 31, 2017 December 31, 2016 Overnight and continuous repurchase agreements U.S. Treasury and U.S. government sponsored entities $ 6,903 $ 6,555 State and political subdivisions 12,378 12,304 Mortgage-backed securities - residential 58,604 52,628 Collateralized mortgage obligations - residential 6,993 6,623 Total repurchase agreements $ 84,878 $ 78,110 |
Summary of Significant Accoun39
Summary of Significant Accounting Policies (Details Textual) $ in Millions | 3 Months Ended |
Mar. 31, 2017USD ($)Segment | |
Accounting Policies [Abstract] | |
Operating segments of business | Segment | 3 |
Capitalization of leases as an asset | $ | $ 2.6 |
Business Combinations (Details
Business Combinations (Details Textual) - USD ($) $ in Thousands | Mar. 13, 2017 | Jun. 01, 2016 | Mar. 31, 2017 | Dec. 31, 2016 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 37,164 | $ 37,164 | ||
Monitor Bancorp, Inc. | ||||
Business Acquisition [Line Items] | ||||
Maximum shares exchanged for stock | 85.00% | |||
Maximum shares exchanged for cash | 15.00% | |||
Estimated transaction value | $ 7,800 | |||
Estimated goodwill recorded | $ 1,400 | |||
Bowers Insurance Agency Inc | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Jun. 1, 2016 | |||
Shares of stock issued for acquisition | 123,280 | |||
Fair value of total consideration transferred | $ 3,155 | |||
Contingent future payments | 1,200 | |||
Contingent consideration | 880 | |||
Goodwill | 1,849 | |||
Fair value of other intangible assets | $ 1,630 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) $ in Thousands | Jun. 01, 2016 | Mar. 31, 2017 | Dec. 31, 2016 |
Assets and liabilities arising from acquisition | |||
Goodwill created | $ 37,164 | $ 37,164 | |
Bowers Insurance Agency Inc | |||
Consideration | |||
Cash | $ 1,137 | ||
Stock | 1,138 | ||
Contingent consideration | 880 | ||
Fair value of total consideration transferred | 3,155 | ||
Fair value of assets acquired | |||
Cash | 64 | ||
Premises and equipment | 290 | ||
Other assets | 34 | ||
Total assets acquired | 388 | ||
Fair value of liabilities assumed | 124 | ||
Net assets acquired | 264 | ||
Assets and liabilities arising from acquisition | |||
Identified intangible assets | 1,630 | ||
Deferred tax liability | (588) | ||
Goodwill created | 1,849 | ||
Total net assets acquired | $ 3,155 |
Business Combinations (Detail42
Business Combinations (Details 1) - Bowers Insurance Agency, Inc. $ / shares in Units, $ in Thousands | 3 Months Ended |
Mar. 31, 2016USD ($)$ / shares | |
Business Acquisition [Line Items] | |
Net interest income | $ 16,747 |
Net income | $ 4,810 |
Basic and diluted earnings per share | $ / shares | $ 0.18 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | $ 381,058 | $ 374,343 |
Gross Unrealized Gains | 1,870 | 2,263 |
Gross Unrealized Losses | (5,856) | (6,611) |
Fair Value | 377,072 | 369,995 |
Corporate bonds | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 1,042 | 1,343 |
Gross Unrealized Gains | 5 | 4 |
Gross Unrealized Losses | (6) | (8) |
Fair Value | 1,041 | 1,339 |
Small Business Administration | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 16,720 | 17,236 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (479) | (530) |
Fair Value | 16,241 | 16,706 |
U.S. Treasury and U.S. government sponsored entities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 5,467 | 5,970 |
Gross Unrealized Gains | 4 | 5 |
Gross Unrealized Losses | (49) | (54) |
Fair Value | 5,422 | 5,921 |
State and political subdivisions | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 166,479 | 157,014 |
Gross Unrealized Gains | 1,108 | 1,049 |
Gross Unrealized Losses | (2,562) | (2,760) |
Fair Value | 165,025 | 155,303 |
Mortgage-backed securities - residential | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 170,675 | 171,215 |
Gross Unrealized Gains | 567 | 1,019 |
Gross Unrealized Losses | (2,064) | (2,552) |
Fair Value | 169,178 | 169,682 |
Collateralized mortgage obligations - residential | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 20,504 | 21,397 |
Gross Unrealized Gains | 2 | 1 |
Gross Unrealized Losses | (695) | (705) |
Fair Value | 19,811 | 20,693 |
Equity securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 171 | 168 |
Gross Unrealized Gains | 184 | 185 |
Gross Unrealized Losses | (1) | (2) |
Fair Value | $ 354 | $ 351 |
Securities (Details Textual)
Securities (Details Textual) | 3 Months Ended | ||
Mar. 31, 2017USD ($)Securities | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($) | |
Schedule Of Available For Sale Securities [Line Items] | |||
Proceeds from sales of securities available for sale | $ 43,263,000 | $ 10,000 | |
Gross gains realized | 562,000 | 1,000 | |
Gross Losses realized | 549,000 | $ 1,000 | |
Unrealized losses | $ 1,039,000 | $ 1,666,000 | |
Number of securities | Securities | 511 | ||
Number of securities on unrealized loss position | Securities | 178 | ||
U.S. Treasury and U.S. government sponsored entities | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Unrealized losses | $ 0 | $ 0 | |
U.S. Treasury and U.S. government sponsored entities | Maximum | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Unrealized losses | $ 1,000 |
Securities (Details 1)
Securities (Details 1) $ in Thousands | Mar. 31, 2017USD ($) |
Amortized cost and fair value of the debt securities maturity | |
Amortized Cost, Within one year | $ 11,743 |
Amortized Cost, One to five years | 52,051 |
Amortized Cost, Five to ten years | 88,905 |
Amortized Cost, Beyond ten years | 20,289 |
Amortized Cost, Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities | 207,899 |
Amortized Cost, Total | 380,887 |
Fair Value, Within one year | 11,754 |
Fair Value, One to five years | 52,432 |
Fair Value, Five to ten years | 87,286 |
Fair Value, Beyond ten years | 20,016 |
Fair Value, Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities | 205,230 |
Fair Value, Total | $ 376,718 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | $ 170,354 | $ 212,479 |
Unrealized Losses, Less Than 12 Months | (4,817) | (4,945) |
Fair Value, 12 Months or Longer | 27,478 | 49,393 |
Unrealized Losses, 12 Months or Longer | (1,039) | (1,666) |
Fair Value, Total | 197,832 | 261,872 |
Unrealized Losses, Total | (5,856) | (6,611) |
Corporate bonds | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 486 | 786 |
Unrealized Losses, Less Than 12 Months | (6) | (8) |
Fair Value, 12 Months or Longer | 0 | 0 |
Unrealized Losses, 12 Months or Longer | 0 | 0 |
Fair Value, Total | 486 | 786 |
Unrealized Losses, Total | (6) | (8) |
Small Business Administration | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 8,420 | 8,770 |
Unrealized Losses, Less Than 12 Months | (192) | (205) |
Fair Value, 12 Months or Longer | 7,778 | 7,890 |
Unrealized Losses, 12 Months or Longer | (287) | (325) |
Fair Value, Total | 16,198 | 16,660 |
Unrealized Losses, Total | (479) | (530) |
U.S. Treasury and U.S. government sponsored entities | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 4,719 | 4,015 |
Unrealized Losses, Less Than 12 Months | (49) | (54) |
Fair Value, 12 Months or Longer | 0 | 502 |
Unrealized Losses, 12 Months or Longer | 0 | 0 |
Fair Value, Total | 4,719 | 4,517 |
Unrealized Losses, Total | (49) | (54) |
State and political subdivisions | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 68,787 | 92,560 |
Unrealized Losses, Less Than 12 Months | (2,549) | (2,745) |
Fair Value, 12 Months or Longer | 286 | 286 |
Unrealized Losses, 12 Months or Longer | (13) | (15) |
Fair Value, Total | 69,073 | 92,846 |
Unrealized Losses, Total | (2,562) | (2,760) |
Mortgage-backed securities - residential | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 80,341 | 98,348 |
Unrealized Losses, Less Than 12 Months | (1,902) | (1,823) |
Fair Value, 12 Months or Longer | 8,841 | 29,743 |
Unrealized Losses, 12 Months or Longer | (162) | (729) |
Fair Value, Total | 89,182 | 128,091 |
Unrealized Losses, Total | (2,064) | (2,552) |
Collateralized mortgage obligations - residential | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 7,568 | 7,956 |
Unrealized Losses, Less Than 12 Months | (118) | (108) |
Fair Value, 12 Months or Longer | 10,573 | 10,972 |
Unrealized Losses, 12 Months or Longer | (577) | (597) |
Fair Value, Total | 18,141 | 18,928 |
Unrealized Losses, Total | (695) | (705) |
Equity securities | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 33 | 44 |
Unrealized Losses, Less Than 12 Months | (1) | (2) |
Fair Value, 12 Months or Longer | 0 | 0 |
Unrealized Losses, 12 Months or Longer | 0 | 0 |
Fair Value, Total | 33 | 44 |
Unrealized Losses, Total | $ (1) | $ (2) |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of loan balances | ||||
Total loans | $ 1,450,142 | $ 1,416,783 | ||
Allowance for loan losses | (11,319) | (10,852) | $ (9,390) | $ (8,978) |
Commercial real estate | ||||
Schedule of loan balances | ||||
Allowance for loan losses | (3,638) | (3,577) | (3,181) | (3,127) |
Commercial | ||||
Schedule of loan balances | ||||
Allowance for loan losses | (1,846) | (1,874) | (1,452) | (1,373) |
Residential real estate | ||||
Schedule of loan balances | ||||
Allowance for loan losses | (2,321) | (2,205) | (1,914) | (1,845) |
Consumer | ||||
Schedule of loan balances | ||||
Allowance for loan losses | (2,813) | (2,766) | $ (2,218) | $ (2,160) |
Originated Loans | ||||
Schedule of loan balances | ||||
Total loans | 1,102,777 | 1,051,103 | ||
Originated Loans | Commercial real estate, Owner occupied | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 116,108 | 109,750 | ||
Originated Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 165,916 | 165,861 | ||
Originated Loans | Commercial real estate, Farmland | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 41,157 | 34,155 | ||
Originated Loans | Commercial real estate, Other | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 77,456 | 70,823 | ||
Originated Loans | Commercial, Commercial and industrial | Commercial | ||||
Schedule of loan balances | ||||
Loan balances | 178,194 | 171,145 | ||
Originated Loans | Residential real estate, 1-4 family residential | Residential real estate | ||||
Schedule of loan balances | ||||
Loan balances | 237,841 | 224,222 | ||
Originated Loans | Commercial, Agricultural | Commercial | ||||
Schedule of loan balances | ||||
Loan balances | 26,564 | 24,598 | ||
Originated Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||||
Schedule of loan balances | ||||
Loan balances | 62,593 | 59,642 | ||
Originated Loans | Consumer, Indirect | Consumer | ||||
Schedule of loan balances | ||||
Loan balances | 161,596 | 156,633 | ||
Originated Loans | Consumer, Direct | Consumer | ||||
Schedule of loan balances | ||||
Loan balances | 27,835 | 26,663 | ||
Originated Loans | Consumer, Other | Consumer | ||||
Schedule of loan balances | ||||
Loan balances | 7,517 | 7,611 | ||
Acquired Loans | ||||
Schedule of loan balances | ||||
Total loans | 355,162 | 373,134 | ||
Net Deferred loan costs | 3,522 | 3,398 | ||
Allowance for loan losses | (11,319) | (10,852) | ||
Acquired Loans | Commercial real estate, Owner occupied | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 59,376 | 60,928 | ||
Acquired Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 23,931 | 24,949 | ||
Acquired Loans | Commercial real estate, Farmland | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 51,315 | 54,204 | ||
Acquired Loans | Commercial real estate, Other | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 14,130 | 14,665 | ||
Acquired Loans | Commercial, Commercial and industrial | Commercial | ||||
Schedule of loan balances | ||||
Loan balances | 30,719 | 33,626 | ||
Acquired Loans | Residential real estate, 1-4 family residential | Residential real estate | ||||
Schedule of loan balances | ||||
Loan balances | 107,502 | 112,015 | ||
Acquired Loans | Commercial, Agricultural | Commercial | ||||
Schedule of loan balances | ||||
Loan balances | 14,832 | 16,024 | ||
Acquired Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||||
Schedule of loan balances | ||||
Loan balances | 33,657 | 34,795 | ||
Acquired Loans | Consumer, Direct | Consumer | ||||
Schedule of loan balances | ||||
Loan balances | 19,543 | 21,681 | ||
Acquired Loans | Consumer, Other | Consumer | ||||
Schedule of loan balances | ||||
Loan balances | $ 157 | $ 247 |
Loans (Details 1)
Loans (Details 1) - National Bancshares Corporation - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable Impaired [Line Items] | ||
Total outstanding balance | $ 2,243 | $ 2,338 |
Carrying amount, net of allowance | 1,790 | 1,864 |
Commercial real estate, Owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Loans acquired with deteriorated credit quality | 662 | 689 |
Commercial real estate, Non-owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Loans acquired with deteriorated credit quality | 410 | 436 |
Commercial, Commercial and industrial | Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Loans acquired with deteriorated credit quality | $ 1,171 | $ 1,213 |
Loans (Details 1) (Parenthetica
Loans (Details 1) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable Impaired [Line Items] | ||
Acquired with deteriorated credit quality, allowances | $ 6 | $ 153 |
Receivables Acquired with Deteriorated Credit Quality | National Bancshares Corporation | ||
Financing Receivable Impaired [Line Items] | ||
Acquired with deteriorated credit quality, allowances | $ 0 | $ 0 |
Loans (Details 2)
Loans (Details 2) $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Receivables [Abstract] | |
Beginning balance | $ 247 |
New loans purchased | 0 |
Accretion of income | (19) |
Ending balance | $ 228 |
Loans (Details 3)
Loans (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Allowance for loan losses | |||
Beginning balance | $ 10,852 | $ 8,978 | $ 8,978 |
Provision for loan losses | 1,050 | 780 | 0 |
Loans charged off | (943) | (578) | |
Recoveries | 360 | 210 | |
Ending balance | 11,319 | 9,390 | 10,852 |
Commercial real estate | |||
Allowance for loan losses | |||
Beginning balance | 3,577 | 3,127 | 3,127 |
Provision for loan losses | 77 | 43 | |
Loans charged off | (140) | 0 | |
Recoveries | 124 | 11 | |
Ending balance | 3,638 | 3,181 | 3,577 |
Commercial | |||
Allowance for loan losses | |||
Beginning balance | 1,874 | 1,373 | 1,373 |
Provision for loan losses | 17 | 64 | |
Loans charged off | (102) | 0 | |
Recoveries | 57 | 15 | |
Ending balance | 1,846 | 1,452 | 1,874 |
Residential real estate | |||
Allowance for loan losses | |||
Beginning balance | 2,205 | 1,845 | 1,845 |
Provision for loan losses | 109 | 75 | |
Loans charged off | (6) | (34) | |
Recoveries | 13 | 28 | |
Ending balance | 2,321 | 1,914 | 2,205 |
Consumer | |||
Allowance for loan losses | |||
Beginning balance | 2,766 | 2,160 | 2,160 |
Provision for loan losses | 576 | 446 | |
Loans charged off | (695) | (544) | |
Recoveries | 166 | 156 | |
Ending balance | 2,813 | 2,218 | 2,766 |
Unallocated | |||
Allowance for loan losses | |||
Beginning balance | 430 | 473 | 473 |
Provision for loan losses | 271 | 152 | |
Loans charged off | 0 | 0 | |
Recoveries | 0 | 0 | |
Ending balance | $ 701 | $ 625 | $ 430 |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | $ 95 | $ 96 | ||
Collectively evaluated for impairment | 11,218 | 10,603 | ||
Acquired loans | 6 | 153 | ||
Total ending allowance balance | 11,319 | 10,852 | $ 9,390 | $ 8,978 |
Loans: | ||||
Loans individually evaluated for impairment | 6,295 | 7,338 | ||
Loans collectively evaluated for impairment | 1,100,621 | 1,048,074 | ||
Acquired loans | 352,755 | 370,359 | ||
Acquired with deteriorated credit quality | 798,284 | 779,340 | ||
Loans | 1,461,461 | 1,427,635 | ||
Receivables Acquired with Deteriorated Credit Quality | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 1,790 | 1,864 | ||
Commercial real estate | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 35 | 44 | ||
Collectively evaluated for impairment | 3,603 | 3,491 | ||
Acquired loans | 0 | 42 | ||
Total ending allowance balance | 3,638 | 3,577 | 3,181 | 3,127 |
Loans: | ||||
Loans individually evaluated for impairment | 2,306 | 3,457 | ||
Loans collectively evaluated for impairment | 397,475 | 376,632 | ||
Acquired loans | 147,563 | 153,228 | ||
Loans | 548,272 | 534,285 | ||
Commercial real estate | Receivables Acquired with Deteriorated Credit Quality | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 928 | 968 | ||
Commercial | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 4 | 4 | ||
Collectively evaluated for impairment | 1,842 | 1,763 | ||
Acquired loans | 0 | 107 | ||
Total ending allowance balance | 1,846 | 1,874 | 1,452 | 1,373 |
Loans: | ||||
Loans individually evaluated for impairment | 336 | 477 | ||
Loans collectively evaluated for impairment | 204,206 | 195,146 | ||
Acquired loans | 44,608 | 48,536 | ||
Loans | 250,012 | 245,055 | ||
Commercial | Receivables Acquired with Deteriorated Credit Quality | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 862 | 896 | ||
Residential real estate | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 56 | 48 | ||
Collectively evaluated for impairment | 2,259 | 2,153 | ||
Acquired loans | 6 | 4 | ||
Total ending allowance balance | 2,321 | 2,205 | 1,914 | 1,845 |
Loans: | ||||
Loans individually evaluated for impairment | 3,601 | 3,308 | ||
Loans collectively evaluated for impairment | 296,612 | 280,215 | ||
Acquired loans | 140,883 | 146,672 | ||
Loans | 441,096 | 430,195 | ||
Residential real estate | Receivables Acquired with Deteriorated Credit Quality | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Consumer | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 2,813 | 2,766 | ||
Acquired loans | 0 | 0 | ||
Total ending allowance balance | 2,813 | 2,766 | 2,218 | 2,160 |
Loans: | ||||
Loans individually evaluated for impairment | 52 | 96 | ||
Loans collectively evaluated for impairment | 202,328 | 196,081 | ||
Acquired loans | 19,701 | 21,923 | ||
Loans | 222,081 | 218,100 | ||
Consumer | Receivables Acquired with Deteriorated Credit Quality | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Unallocated | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 701 | 430 | ||
Acquired loans | 0 | 0 | ||
Total ending allowance balance | 701 | 430 | $ 625 | $ 473 |
Loans: | ||||
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 0 | 0 | ||
Acquired loans | 0 | 0 | ||
Loans | 0 | 0 | ||
Unallocated | Receivables Acquired with Deteriorated Credit Quality | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | $ 0 | $ 0 |
Loans (Details 5)
Loans (Details 5) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | $ 5,006 | $ 5,561 |
Unpaid Principal Balance, With an allowance recorded | 2,238 | 2,710 |
Unpaid Principal Balance | 7,244 | 8,271 |
Recorded Investment, With no related allowance recorded | 4,079 | 4,649 |
Recorded Investment, With an allowance recorded | 2,216 | 2,689 |
Recorded Investment | 6,295 | 7,338 |
Allowance for Loan Losses Allocated | 101 | 249 |
Consumer | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 127 | 205 |
Recorded Investment, With no related allowance recorded | 52 | 96 |
Commercial real estate, Owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 1,443 | 1,974 |
Unpaid Principal Balance, With an allowance recorded | 167 | 173 |
Recorded Investment, With no related allowance recorded | 926 | 1,456 |
Recorded Investment, With an allowance recorded | 167 | 173 |
Allowance for Loan Losses Allocated | 9 | 14 |
Commercial real estate, Non-owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 18 | 332 |
Unpaid Principal Balance, With an allowance recorded | 1,102 | 1,118 |
Recorded Investment, With no related allowance recorded | 18 | 331 |
Recorded Investment, With an allowance recorded | 1,102 | 1,118 |
Allowance for Loan Losses Allocated | 26 | 30 |
Commercial real estate, Farmland | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 94 | |
Unpaid Principal Balance, With an allowance recorded | 0 | 380 |
Recorded Investment, With no related allowance recorded | 93 | |
Recorded Investment, With an allowance recorded | 0 | 379 |
Allowance for Loan Losses Allocated | 0 | 42 |
Commercial, Commercial and industrial | Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 204 | 205 |
Unpaid Principal Balance, With an allowance recorded | 73 | 75 |
Recorded Investment, With no related allowance recorded | 183 | 184 |
Recorded Investment, With an allowance recorded | 73 | 75 |
Allowance for Loan Losses Allocated | 4 | 4 |
Residential real estate, 1-4 family residential | Residential real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 2,649 | 2,650 |
Unpaid Principal Balance, With an allowance recorded | 813 | 661 |
Recorded Investment, With no related allowance recorded | 2,401 | 2,403 |
Recorded Investment, With an allowance recorded | 791 | 642 |
Allowance for Loan Losses Allocated | 61 | 51 |
Commercial, Agricultural | Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 126 | |
Unpaid Principal Balance, With an allowance recorded | 0 | 219 |
Recorded Investment, With no related allowance recorded | 80 | |
Recorded Investment, With an allowance recorded | 0 | 218 |
Allowance for Loan Losses Allocated | 0 | 107 |
Residential real estate, Home equity lines of credit | Residential real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 345 | 195 |
Unpaid Principal Balance, With an allowance recorded | 83 | 84 |
Recorded Investment, With no related allowance recorded | 326 | 179 |
Recorded Investment, With an allowance recorded | 83 | 84 |
Allowance for Loan Losses Allocated | $ 1 | $ 1 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | $ 4,168 | $ 5,905 |
Average Recorded Investment, With an allowance recorded | 2,658 | 3,973 |
Average Recorded Investment | 6,826 | 9,878 |
Interest Income Recognized, With no related allowance recorded | 47 | 63 |
Interest Income Recognized, With related allowance recorded | 26 | 39 |
Interest Income Recognized | 73 | 102 |
Consumer | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 74 | 116 |
Average Recorded Investment, With an allowance recorded | 1 | 0 |
Interest Income Recognized, With no related allowance recorded | 3 | 3 |
Interest Income Recognized, With related allowance recorded | 0 | 0 |
Commercial real estate, Owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 1,051 | 2,307 |
Average Recorded Investment, With an allowance recorded | 422 | 1,589 |
Interest Income Recognized, With no related allowance recorded | 2 | 10 |
Interest Income Recognized, With related allowance recorded | 2 | 9 |
Commercial real estate, Non-owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 226 | 336 |
Average Recorded Investment, With an allowance recorded | 1,107 | 1,469 |
Interest Income Recognized, With no related allowance recorded | 0 | 4 |
Interest Income Recognized, With related allowance recorded | 14 | 19 |
Commercial, Commercial and industrial | Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 210 | 614 |
Average Recorded Investment, With an allowance recorded | 273 | 80 |
Interest Income Recognized, With no related allowance recorded | 1 | 5 |
Interest Income Recognized, With related allowance recorded | 1 | 1 |
Residential real estate, 1-4 family residential | Residential real estate | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 2,380 | 2,292 |
Average Recorded Investment, With an allowance recorded | 773 | 749 |
Interest Income Recognized, With no related allowance recorded | 37 | 38 |
Interest Income Recognized, With related allowance recorded | 8 | 9 |
Residential real estate, Home equity lines of credit | Residential real estate | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 227 | 240 |
Average Recorded Investment, With an allowance recorded | 82 | 86 |
Interest Income Recognized, With no related allowance recorded | 4 | 3 |
Interest Income Recognized, With related allowance recorded | $ 1 | $ 1 |
Loans (Details 7)
Loans (Details 7) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | $ 5,358 | $ 6,489 |
Loans Past Due 90 Days or More Still Accruing | 1,195 | 1,681 |
Originated Loans | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 3,618 | 4,209 |
Loans Past Due 90 Days or More Still Accruing | 872 | 932 |
Originated Loans | Commercial real estate, Owner occupied | Commercial real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 806 | 958 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Originated Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 17 | 343 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Originated Loans | Commercial real estate, Farmland | Commercial real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 55 | 58 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Originated Loans | Commercial, Commercial and industrial | Commercial | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 309 | 400 |
Loans Past Due 90 Days or More Still Accruing | 40 | 0 |
Originated Loans | Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 1,857 | 1,929 |
Loans Past Due 90 Days or More Still Accruing | 467 | 295 |
Originated Loans | Commercial, Agricultural | Commercial | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 3 | 12 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Originated Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 196 | 202 |
Loans Past Due 90 Days or More Still Accruing | 85 | 118 |
Originated Loans | Consumer, Indirect | Consumer | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 368 | 298 |
Loans Past Due 90 Days or More Still Accruing | 262 | 438 |
Originated Loans | Consumer, Direct | Consumer | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 7 | 9 |
Loans Past Due 90 Days or More Still Accruing | 0 | 65 |
Originated Loans | Consumer, Other | Consumer | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 0 | 0 |
Loans Past Due 90 Days or More Still Accruing | 18 | 16 |
Acquired Loans | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 1,740 | 2,280 |
Loans Past Due 90 Days or More Still Accruing | 323 | 749 |
Acquired Loans | Commercial real estate, Owner occupied | Commercial real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 59 | 85 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Acquired Loans | Commercial real estate, Farmland | Commercial real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 93 | 380 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Acquired Loans | Commercial, Commercial and industrial | Commercial | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 894 | 961 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Acquired Loans | Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 370 | 386 |
Loans Past Due 90 Days or More Still Accruing | 156 | 545 |
Acquired Loans | Commercial, Agricultural | Commercial | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 98 | 236 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Acquired Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 124 | 119 |
Loans Past Due 90 Days or More Still Accruing | 86 | 109 |
Acquired Loans | Consumer, Direct | Consumer | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 94 | 89 |
Loans Past Due 90 Days or More Still Accruing | 81 | 95 |
Acquired Loans | Commercial real estate, Other | Commercial real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 8 | 24 |
Loans Past Due 90 Days or More Still Accruing | $ 0 | $ 0 |
Loans (Details 8)
Loans (Details 8) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of investment in past due loans | ||
Total Past Due | $ 14,811 | $ 20,916 |
Loans Not Past Due | 1,446,650 | 1,406,719 |
Loans | 1,461,461 | 1,427,635 |
Commercial real estate | ||
Schedule of investment in past due loans | ||
Loans | 548,272 | 534,285 |
Commercial | ||
Schedule of investment in past due loans | ||
Loans | 250,012 | 245,055 |
Residential real estate | ||
Schedule of investment in past due loans | ||
Loans | 441,096 | 430,195 |
Consumer | ||
Schedule of investment in past due loans | ||
Loans | 222,081 | 218,100 |
Financing Receivables, 30 to 59 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 6,317 | 10,485 |
Financing Receivables, 60 to 89 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,941 | 2,261 |
Financing Receivables, Equal to Greater than 90 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 6,553 | 8,170 |
Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in past due loans | ||
Loans | 344,807 | 335,718 |
Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in past due loans | ||
Loans | 96,289 | 94,477 |
Consumer, Indirect | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 166,829 | 161,713 |
Consumer, Direct | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 47,579 | 48,528 |
Consumer, Other | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 7,673 | 7,859 |
Originated Loans | ||
Schedule of investment in past due loans | ||
Total Past Due | 10,537 | 13,715 |
Loans Not Past Due | 1,095,758 | 1,040,781 |
Loans | 1,106,295 | 1,054,496 |
Originated Loans | Financing Receivables, 30 to 59 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 4,776 | 7,215 |
Originated Loans | Financing Receivables, 60 to 89 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,271 | 1,359 |
Originated Loans | Financing Receivables, Equal to Greater than 90 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 4,490 | 5,141 |
Originated Loans | Commercial real estate, Owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 982 | 958 |
Loans Not Past Due | 114,795 | 108,475 |
Loans | 115,777 | 109,433 |
Originated Loans | Commercial real estate, Owner occupied | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 176 | 0 |
Originated Loans | Commercial real estate, Owner occupied | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Owner occupied | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 806 | 958 |
Originated Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 17 | 343 |
Loans Not Past Due | 165,456 | 165,105 |
Loans | 165,473 | 165,448 |
Originated Loans | Commercial real estate, Non-owner occupied | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Non-owner occupied | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Non-owner occupied | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 17 | 343 |
Originated Loans | Commercial real estate, Farmland | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 55 | 58 |
Loans Not Past Due | 41,057 | 34,057 |
Loans | 41,112 | 34,115 |
Originated Loans | Commercial real estate, Farmland | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Farmland | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Farmland | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 55 | 58 |
Originated Loans | Commercial real estate, Other | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Loans Not Past Due | 77,156 | 70,542 |
Loans | 77,156 | 70,542 |
Originated Loans | Commercial real estate, Other | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Other | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Other | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial, Commercial and industrial | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 492 | 490 |
Loans Not Past Due | 177,325 | 170,242 |
Loans | 177,817 | 170,732 |
Originated Loans | Commercial, Commercial and industrial | Financing Receivables, 30 to 59 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 90 |
Originated Loans | Commercial, Commercial and industrial | Financing Receivables, 60 to 89 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 143 | 0 |
Originated Loans | Commercial, Commercial and industrial | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 349 | 400 |
Originated Loans | Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 4,946 | 5,948 |
Loans Not Past Due | 232,357 | 217,752 |
Loans | 237,303 | 223,700 |
Originated Loans | Residential real estate, 1-4 family residential | Financing Receivables, 30 to 59 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 2,066 | 3,368 |
Originated Loans | Residential real estate, 1-4 family residential | Financing Receivables, 60 to 89 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 556 | 356 |
Originated Loans | Residential real estate, 1-4 family residential | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 2,324 | 2,224 |
Originated Loans | Commercial, Agricultural | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 41 | 41 |
Loans Not Past Due | 26,603 | 24,632 |
Loans | 26,644 | 24,673 |
Originated Loans | Commercial, Agricultural | Financing Receivables, 30 to 59 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 38 | 0 |
Originated Loans | Commercial, Agricultural | Financing Receivables, 60 to 89 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 29 |
Originated Loans | Commercial, Agricultural | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 3 | 12 |
Originated Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 428 | 434 |
Loans Not Past Due | 62,203 | 59,248 |
Loans | 62,631 | 59,682 |
Originated Loans | Residential real estate, Home equity lines of credit | Financing Receivables, 30 to 59 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 63 | 77 |
Originated Loans | Residential real estate, Home equity lines of credit | Financing Receivables, 60 to 89 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 84 | 37 |
Originated Loans | Residential real estate, Home equity lines of credit | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 281 | 320 |
Originated Loans | Consumer, Indirect | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 2,839 | 4,276 |
Loans Not Past Due | 163,990 | 157,437 |
Loans | 166,829 | 161,713 |
Originated Loans | Consumer, Indirect | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,850 | 2,844 |
Originated Loans | Consumer, Indirect | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 359 | 696 |
Originated Loans | Consumer, Indirect | Financing Receivables, Equal to Greater than 90 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 630 | 736 |
Originated Loans | Consumer, Direct | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 680 | 1,031 |
Loans Not Past Due | 27,356 | 25,815 |
Loans | 28,036 | 26,846 |
Originated Loans | Consumer, Direct | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 554 | 744 |
Originated Loans | Consumer, Direct | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 119 | 213 |
Originated Loans | Consumer, Direct | Financing Receivables, Equal to Greater than 90 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 7 | 74 |
Originated Loans | Consumer, Other | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 57 | 136 |
Loans Not Past Due | 7,460 | 7,476 |
Loans | 7,517 | 7,612 |
Originated Loans | Consumer, Other | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 29 | 92 |
Originated Loans | Consumer, Other | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 10 | 28 |
Originated Loans | Consumer, Other | Financing Receivables, Equal to Greater than 90 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 18 | 16 |
Acquired Loans | ||
Schedule of investment in past due loans | ||
Total Past Due | 4,274 | 7,201 |
Loans Not Past Due | 350,892 | 365,938 |
Loans | 355,166 | 373,139 |
Acquired Loans | Financing Receivables, 30 to 59 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,541 | 3,270 |
Acquired Loans | Financing Receivables, 60 to 89 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 670 | 902 |
Acquired Loans | Financing Receivables, Equal to Greater than 90 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 2,063 | 3,029 |
Acquired Loans | Commercial real estate, Owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 59 | 298 |
Loans Not Past Due | 59,317 | 60,630 |
Loans | 59,376 | 60,928 |
Acquired Loans | Commercial real estate, Owner occupied | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 8 |
Acquired Loans | Commercial real estate, Owner occupied | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 205 |
Acquired Loans | Commercial real estate, Owner occupied | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 59 | 85 |
Acquired Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 265 | 134 |
Loans Not Past Due | 23,666 | 24,815 |
Loans | 23,931 | 24,949 |
Acquired Loans | Commercial real estate, Non-owner occupied | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 65 | 134 |
Acquired Loans | Commercial real estate, Non-owner occupied | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 200 | 0 |
Acquired Loans | Commercial real estate, Non-owner occupied | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial real estate, Farmland | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 93 | 463 |
Loans Not Past Due | 51,222 | 53,741 |
Loans | 51,315 | 54,204 |
Acquired Loans | Commercial real estate, Farmland | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 83 |
Acquired Loans | Commercial real estate, Farmland | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial real estate, Farmland | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 93 | 380 |
Acquired Loans | Commercial real estate, Other | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 8 | 24 |
Loans Not Past Due | 14,124 | 14,642 |
Loans | 14,132 | 14,666 |
Acquired Loans | Commercial real estate, Other | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial real estate, Other | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial real estate, Other | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 8 | 24 |
Acquired Loans | Commercial, Commercial and industrial | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 959 | 1,239 |
Loans Not Past Due | 29,760 | 32,387 |
Loans | 30,719 | 33,626 |
Acquired Loans | Commercial, Commercial and industrial | Financing Receivables, 30 to 59 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 65 | 278 |
Acquired Loans | Commercial, Commercial and industrial | Financing Receivables, 60 to 89 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial, Commercial and industrial | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 894 | 961 |
Acquired Loans | Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,489 | 2,991 |
Loans Not Past Due | 106,015 | 109,027 |
Loans | 107,504 | 112,018 |
Acquired Loans | Residential real estate, 1-4 family residential | Financing Receivables, 30 to 59 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 664 | 1,556 |
Acquired Loans | Residential real estate, 1-4 family residential | Financing Receivables, 60 to 89 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 299 | 504 |
Acquired Loans | Residential real estate, 1-4 family residential | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 526 | 931 |
Acquired Loans | Commercial, Agricultural | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 293 | 257 |
Loans Not Past Due | 14,539 | 15,767 |
Loans | 14,832 | 16,024 |
Acquired Loans | Commercial, Agricultural | Financing Receivables, 30 to 59 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 195 | 21 |
Acquired Loans | Commercial, Agricultural | Financing Receivables, 60 to 89 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial, Agricultural | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 98 | 236 |
Acquired Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 449 | 389 |
Loans Not Past Due | 33,209 | 34,406 |
Loans | 33,658 | 34,795 |
Acquired Loans | Residential real estate, Home equity lines of credit | Financing Receivables, 30 to 59 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 126 | 152 |
Acquired Loans | Residential real estate, Home equity lines of credit | Financing Receivables, 60 to 89 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 113 | 9 |
Acquired Loans | Residential real estate, Home equity lines of credit | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 210 | 228 |
Acquired Loans | Consumer, Indirect | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 0 | 0 |
Acquired Loans | Consumer, Direct | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 659 | 1,306 |
Loans Not Past Due | 18,884 | 20,376 |
Loans | 19,543 | 21,682 |
Acquired Loans | Consumer, Direct | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 426 | 938 |
Acquired Loans | Consumer, Direct | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 58 | 184 |
Acquired Loans | Consumer, Direct | Financing Receivables, Equal to Greater than 90 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 175 | 184 |
Acquired Loans | Consumer, Other | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 100 |
Loans Not Past Due | 156 | 147 |
Loans | 156 | 247 |
Acquired Loans | Consumer, Other | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 100 |
Acquired Loans | Consumer, Other | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Consumer, Other | Financing Receivables, Equal to Greater than 90 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | $ 0 | $ 0 |
Troubled Debt Restructurings (D
Troubled Debt Restructurings (Details Textual) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017USD ($)Loans | Mar. 31, 2016USD ($)Loans | Dec. 31, 2016USD ($) | |
Financing Receivable Modifications [Line Items] | |||
Total troubled debt restructurings | $ 6,200,000 | $ 7,000,000 | |
Specific reserves to customers | 95,000 | 96,000 | |
Commitments to lend additional amounts to borrowers classified as troubled debt restructurings | 0 | 0 | |
Provision for loan losses | $ 1,050,000 | $ 780,000 | 0 |
Troubled debt restructured loans with subsequent payment defaults | Loans | Loans | 0 | ||
Residential Real Estate Loan And Home Equity Line Of Credit | |||
Financing Receivable Modifications [Line Items] | |||
Loans default payment past due period | 30 days | ||
Residential real estate loan | |||
Financing Receivable Modifications [Line Items] | |||
Troubled debt restructured loans with subsequent payment defaults | Loans | Loans | 1 | ||
Residential real estate, Home equity lines of credit | |||
Financing Receivable Modifications [Line Items] | |||
Troubled debt restructured loans with subsequent payment defaults | Loans | Loans | 1 | ||
Troubled debt restructurings | |||
Financing Receivable Modifications [Line Items] | |||
Specific reserves to customers | $ 101,000 | $ 101,000 | |
Allowance adjustment charge offs | 13,000 | $ 11,000 | |
Provision for loan losses | $ 13,000 | $ 11,000 | |
Contractual Interest Rate Reduction | |||
Financing Receivable Modifications [Line Items] | |||
Reduction of the notes stated interest rate | 1.89% | 1.24% | |
Extended Maturity | |||
Financing Receivable Modifications [Line Items] | |||
Maturity period loans | 120 months | ||
Extended Maturity | Minimum | |||
Financing Receivable Modifications [Line Items] | |||
Maturity period loans | 6 months | ||
Extended Maturity | Maximum | |||
Financing Receivable Modifications [Line Items] | |||
Maturity period loans | 132 months |
Troubled Debt Restructurings 58
Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017USD ($)Loan | Mar. 31, 2016USD ($)Loan | |
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 16 | 12 |
Pre-Modification Outstanding Recorded Investment | $ 451 | $ 157 |
Post-Modification Outstanding Recorded Investment | $ 454 | $ 158 |
Originated Loans | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 15 | 11 |
Pre-Modification Outstanding Recorded Investment | $ 394 | $ 124 |
Post-Modification Outstanding Recorded Investment | $ 397 | $ 125 |
Originated Loans | Consumer | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | |
Post-Modification Outstanding Recorded Investment | $ 0 | |
Originated Loans | Residential real estate, 1-4 family residential | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 6 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 284 | $ 47 |
Post-Modification Outstanding Recorded Investment | $ 287 | $ 48 |
Originated Loans | Residential real estate, Home equity lines of credit | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 5 | |
Pre-Modification Outstanding Recorded Investment | $ 94 | |
Post-Modification Outstanding Recorded Investment | $ 94 | |
Originated Loans | Consumer, Indirect | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 4 | 8 |
Pre-Modification Outstanding Recorded Investment | $ 16 | $ 77 |
Post-Modification Outstanding Recorded Investment | $ 16 | $ 77 |
Acquired Loans | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 57 | $ 33 |
Post-Modification Outstanding Recorded Investment | $ 57 | $ 33 |
Acquired Loans | Consumer | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 33 | |
Post-Modification Outstanding Recorded Investment | $ 33 | |
Acquired Loans | Residential real estate, Home equity lines of credit | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 57 | |
Post-Modification Outstanding Recorded Investment | $ 57 |
Credit Quality Indicators (Deta
Credit Quality Indicators (Details Textual) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment [Line Items] | ||
Minimum commercial loan and commercial real estate relationships | $ 750,000 | |
Residential real estate, 1-4 family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Other real estate owned properties | 381,000 | $ 357,000 |
Other real estate properties in foreclosure | $ 813,000 | $ 371,000 |
Credit Quality Indicators (De60
Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | $ 798,284 | $ 779,340 |
Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 781,104 | 759,104 |
Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 7,687 | 7,672 |
Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 9,493 | 12,564 |
Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 603,979 | 574,943 |
Originated Loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 596,610 | 564,374 |
Originated Loans | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 3,983 | 4,310 |
Originated Loans | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 3,386 | 6,259 |
Originated Loans | Commercial real estate | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 115,777 | 109,433 |
Originated Loans | Commercial real estate | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 165,473 | 165,448 |
Originated Loans | Commercial real estate | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 41,112 | 34,115 |
Originated Loans | Commercial real estate | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 77,156 | 70,542 |
Originated Loans | Commercial real estate | Pass | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 113,362 | 106,448 |
Originated Loans | Commercial real estate | Pass | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 164,806 | 162,465 |
Originated Loans | Commercial real estate | Pass | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 41,009 | 34,057 |
Originated Loans | Commercial real estate | Pass | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 76,529 | 69,947 |
Originated Loans | Commercial real estate | Special Mention | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 481 | 490 |
Originated Loans | Commercial real estate | Special Mention | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 508 | 522 |
Originated Loans | Commercial real estate | Special Mention | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 47 | 0 |
Originated Loans | Commercial real estate | Special Mention | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 363 | 325 |
Originated Loans | Commercial real estate | Substandard | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 1,934 | 2,495 |
Originated Loans | Commercial real estate | Substandard | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 159 | 2,461 |
Originated Loans | Commercial real estate | Substandard | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 56 | 58 |
Originated Loans | Commercial real estate | Substandard | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 264 | 270 |
Originated Loans | Commercial | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 177,817 | 170,732 |
Originated Loans | Commercial | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 26,644 | 24,673 |
Originated Loans | Commercial | Pass | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 174,556 | 167,062 |
Originated Loans | Commercial | Pass | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 26,348 | 24,395 |
Originated Loans | Commercial | Special Mention | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 2,332 | 2,720 |
Originated Loans | Commercial | Special Mention | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 252 | 253 |
Originated Loans | Commercial | Substandard | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 929 | 950 |
Originated Loans | Commercial | Substandard | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 44 | 25 |
Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 194,305 | 204,397 |
Acquired Loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 184,494 | 194,730 |
Acquired Loans | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 3,704 | 3,362 |
Acquired Loans | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 6,107 | 6,305 |
Acquired Loans | Commercial real estate | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 59,376 | 60,928 |
Acquired Loans | Commercial real estate | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 23,931 | 24,949 |
Acquired Loans | Commercial real estate | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 51,315 | 54,204 |
Acquired Loans | Commercial real estate | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 14,132 | 14,666 |
Acquired Loans | Commercial real estate | Pass | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 57,248 | 58,655 |
Acquired Loans | Commercial real estate | Pass | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 22,397 | 23,577 |
Acquired Loans | Commercial real estate | Pass | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 50,451 | 53,039 |
Acquired Loans | Commercial real estate | Pass | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 12,972 | 14,060 |
Acquired Loans | Commercial real estate | Special Mention | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 493 | 707 |
Acquired Loans | Commercial real estate | Special Mention | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 1,163 | 1,195 |
Acquired Loans | Commercial real estate | Special Mention | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 0 | 0 |
Acquired Loans | Commercial real estate | Special Mention | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 1,036 | 464 |
Acquired Loans | Commercial real estate | Substandard | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 1,635 | 1,566 |
Acquired Loans | Commercial real estate | Substandard | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 371 | 177 |
Acquired Loans | Commercial real estate | Substandard | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 864 | 1,165 |
Acquired Loans | Commercial real estate | Substandard | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 124 | 142 |
Acquired Loans | Commercial | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 30,719 | 33,626 |
Acquired Loans | Commercial | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 14,832 | 16,024 |
Acquired Loans | Commercial | Pass | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 27,606 | 30,543 |
Acquired Loans | Commercial | Pass | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 13,820 | 14,856 |
Acquired Loans | Commercial | Special Mention | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 290 | 311 |
Acquired Loans | Commercial | Special Mention | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 722 | 685 |
Acquired Loans | Commercial | Substandard | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 2,823 | 2,772 |
Acquired Loans | Commercial | Substandard | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | $ 290 | $ 483 |
Credit Quality Indicators (De61
Credit Quality Indicators (Details 1) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 1,461,461 | $ 1,427,635 |
Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,106,295 | 1,054,496 |
Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 355,166 | 373,139 |
Residential real estate | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 441,096 | 430,195 |
Residential real estate | Residential real estate, 1-4 family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 344,807 | 335,718 |
Residential real estate | Residential real estate, 1-4 family residential | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 237,303 | 223,700 |
Residential real estate | Residential real estate, 1-4 family residential | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 234,979 | 221,476 |
Residential real estate | Residential real estate, 1-4 family residential | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,324 | 2,224 |
Residential real estate | Residential real estate, 1-4 family residential | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 107,504 | 112,018 |
Residential real estate | Residential real estate, 1-4 family residential | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 106,978 | 111,087 |
Residential real estate | Residential real estate, 1-4 family residential | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 526 | 931 |
Residential real estate | Residential real estate, Home equity lines of credit | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 96,289 | 94,477 |
Residential real estate | Residential real estate, Home equity lines of credit | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 62,631 | 59,682 |
Residential real estate | Residential real estate, Home equity lines of credit | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 62,350 | 59,362 |
Residential real estate | Residential real estate, Home equity lines of credit | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 281 | 320 |
Residential real estate | Residential real estate, Home equity lines of credit | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 33,658 | 34,795 |
Residential real estate | Residential real estate, Home equity lines of credit | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 33,448 | 34,567 |
Residential real estate | Residential real estate, Home equity lines of credit | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 210 | 228 |
Consumer | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 222,081 | 218,100 |
Consumer | Consumer, Indirect | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 166,829 | 161,713 |
Consumer | Consumer, Indirect | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 166,829 | 161,713 |
Consumer | Consumer, Indirect | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 166,199 | 160,977 |
Consumer | Consumer, Indirect | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 630 | 736 |
Consumer | Consumer, Indirect | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer | Consumer, Indirect | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer | Consumer, Indirect | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer | Consumer, Direct | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 47,579 | 48,528 |
Consumer | Consumer, Direct | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 28,036 | 26,846 |
Consumer | Consumer, Direct | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 28,029 | 26,772 |
Consumer | Consumer, Direct | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 7 | 74 |
Consumer | Consumer, Direct | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 19,543 | 21,682 |
Consumer | Consumer, Direct | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 19,368 | 21,498 |
Consumer | Consumer, Direct | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 175 | 184 |
Consumer | Consumer, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 7,673 | 7,859 |
Consumer | Consumer, Other | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 7,517 | 7,612 |
Consumer | Consumer, Other | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 7,499 | 7,596 |
Consumer | Consumer, Other | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 18 | 16 |
Consumer | Consumer, Other | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 156 | 247 |
Consumer | Consumer, Other | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 156 | 247 |
Consumer | Consumer, Other | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 0 | $ 0 |
Interest-Rate Swaps (Details)
Interest-Rate Swaps (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Derivative [Line Items] | ||
Weighted average pay rate on interest-rate swaps | 4.36% | 4.34% |
Weighted average receive rate on interest-rate swaps | 3.26% | 3.04% |
Weighted average maturity (years) | 4 years 7 months 6 days | 4 years 9 months 18 days |
Fair value of combined interest-rate swaps | $ 629 | $ 685 |
Interest rate swaps | ||
Derivative [Line Items] | ||
Notional amounts | $ 32,303 | $ 34,360 |
Interest-Rate Swaps (Details Te
Interest-Rate Swaps (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest rate swaps | ||
Derivative [Line Items] | ||
Net Gain or Loss recognized in earnings | $ 0 | $ 0 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Basic EPS | ||
Net income | $ 5,783 | $ 4,798 |
Weighted average shares outstanding | 27,278,314 | 27,047,168 |
Basic earnings per share | $ 0.21 | $ 0.18 |
Diluted EPS | ||
Net income | $ 5,783 | $ 4,798 |
Weighted average shares outstanding | 27,278,314 | 27,047,168 |
Dilutive effect of restricted stock awards | 62,668 | 10,670 |
Weighted average shares for diluted earnings per share | 27,340,982 | 27,057,838 |
Diluted earnings per share | $ 0.21 | $ 0.18 |
Earnings Per Share (Details Tex
Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Restricted Stock Awards | ||
Earnings Per Share Basic [Line Items] | ||
Anti-dilutive securities excluded from computation of earnings per share | 0 | 0 |
Stock Based Compensation (Detai
Stock Based Compensation (Details Textual) - 2012 Incentive Plan - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2012 | |
Restricted Stock Awards | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Maximum shares available under equity incentive plan | 500,000 | ||
Shares awarded under equity incentive plan | 0 | ||
Stock based compensation expense | $ 180 | $ 201 | |
Unrecognized compensation expense | $ 2,200 | ||
Compensation cost not yet recognized, period for recognition | 1 year 9 months 18 days | ||
Time Based Restricted Stock Awards | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Shares awarded under equity incentive plan | 0 | ||
Performance Based Restricted Stock Awards | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Shares awarded under equity incentive plan | 0 |
Stock Based Compensation (Det67
Stock Based Compensation (Details) - Restricted Stock Awards - 2012 Incentive Plan | 3 Months Ended |
Mar. 31, 2017$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Beginning unvested units, Maximum Awarded Units | shares | 499,390 |
Granted, Maximum Awarded Units | shares | 0 |
Vested, Maximum Awarded Units | shares | (18,928) |
Forfeited, Maximum Awarded Units | shares | 0 |
Ending unvested units, Maximum Awarded Units | shares | 480,462 |
Beginning unvested units, Weighted Average Grant Date Fair Value | $ / shares | $ 8.30 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 0 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 7 |
Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 0 |
Ending unvested units, Weighted Average Grant Date Fair Value | $ / shares | $ 8.35 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Comprehensive Income Net Of Tax [Abstract] | |||
Unrealized holding gains on available-for-sale securities during the period, pre-tax | $ 375 | $ 3,357 | |
Reclassification adjustment for (gains) losses included in net income, pre-tax | [1] | (13) | 0 |
Net unrealized holding gains | 362 | 3,357 | |
Unrealized holding gains on available-for-sale securities during the period, tax | (132) | (1,175) | |
Reclassification adjustment for (gains) losses included in net income, tax | [1] | 4 | 0 |
Net unrealized gains on available-for-sale securities, tax | (128) | (1,175) | |
Unrealized holding gains on available-for-sale securities during the period, after-tax | 243 | 2,182 | |
Reclassification adjustment for (gains) losses included in net income, after-tax | [1] | (9) | 0 |
Net unrealized gains on available-for-sale securities, after-tax | $ 234 | $ 2,182 | |
[1] | Pre-tax reclassification adjustments relating to available-for-sale securities are reported in security gains and the tax impact is included in income tax expense on the consolidated statements of income. |
Regulatory Capital Matters (Det
Regulatory Capital Matters (Details Textual) | Mar. 31, 2017 | Dec. 31, 2016 |
Regulatory Matters (Additional Textual) [Abstract] | ||
Common equity tier 1 capital to risk-weighted assets, capital conservation buffer ratio | 2.50% | |
Tier 1 capital to risk-weighted assets, capital conservation buffer ratio | 2.50% | |
Total capital to risk-weighted assets, capital conservation buffer ratio | 2.50% | |
Additional capital conservation buffer ratio | 1.25% | 0.625% |
Minimum ratio of common equity tier 1 capital to risk-weighted assets | 4.50% | 4.50% |
Minimum ratio of tier 1 capital to risk-weighted assets | 6.00% | 6.00% |
Minimum ratio of total capital to risk-weighted assets | 8.00% | 8.00% |
Minimum leverage ratio | 4.00% | 4.00% |
Farmers National Banc Corp | ||
Regulatory Matters (Additional Textual) [Abstract] | ||
Minimum ratio of common equity tier 1 capital to risk-weighted assets | 4.50% | 4.50% |
Minimum ratio of tier 1 capital to risk-weighted assets | 6.00% | 6.00% |
Minimum ratio of total capital to risk-weighted assets | 8.00% | 8.00% |
Minimum leverage ratio | 4.00% | 4.00% |
Regulatory Capital Matters (D70
Regulatory Capital Matters (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Common equity tier 1 capital ratio | ||
Actual, Amount | $ 184,259 | $ 180,475 |
Actual, Ratio | 11.75% | 11.69% |
Requirement for Capital Adequacy Purposes, Amount | $ 70,564 | $ 69,474 |
Requirement for Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Total risk based capital ratio | ||
Actual, Amount | $ 197,751 | $ 193,487 |
Actual, Ratio | 12.61% | 12.53% |
Requirement for Capital Adequacy Purposes, Amount | $ 125,447 | $ 123,509 |
Requirement for Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier 1 risk based capital ratio | ||
Actual, Amount | $ 186,432 | $ 182,635 |
Actual, Ratio | 11.89% | 11.83% |
Requirement for Capital Adequacy Purposes, Amount | $ 94,085 | $ 92,632 |
Requirement for Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
Tier 1 leverage ratio | ||
Actual, Amount | $ 186,432 | $ 182,635 |
Actual, Ratio | 9.47% | 9.41% |
Requirement for Capital Adequacy Purposes, Amount | $ 78,762 | $ 77,596 |
Requirement for Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Farmers National Banc Corp | ||
Common equity tier 1 capital ratio | ||
Actual, Amount | $ 174,265 | $ 171,064 |
Actual, Ratio | 11.13% | 11.12% |
Requirement for Capital Adequacy Purposes, Amount | $ 70,433 | $ 69,244 |
Requirement for Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 101,736 | $ 100,020 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | 6.50% |
Total risk based capital ratio | ||
Actual, Amount | $ 185,584 | $ 181,916 |
Actual, Ratio | 11.86% | 11.82% |
Requirement for Capital Adequacy Purposes, Amount | $ 125,214 | $ 123,101 |
Requirement for Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 156,517 | $ 153,877 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 risk based capital ratio | ||
Actual, Amount | $ 174,265 | $ 171,064 |
Actual, Ratio | 11.13% | 11.12% |
Requirement for Capital Adequacy Purposes, Amount | $ 93,910 | $ 92,326 |
Requirement for Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 125,214 | $ 123,101 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Tier 1 leverage ratio | ||
Actual, Amount | $ 174,265 | $ 171,064 |
Actual, Ratio | 8.91% | 8.91% |
Requirement for Capital Adequacy Purposes, Amount | $ 78,271 | $ 76,792 |
Requirement for Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 97,839 | $ 95,990 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financial Assets | ||
Securities available for sale | $ 377,072 | $ 369,995 |
Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 377,072 | 369,995 |
Loan yield maintenance provisions | 629 | 685 |
Corporate bonds | ||
Financial Assets | ||
Securities available for sale | 1,041 | 1,339 |
Corporate bonds | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 1,041 | 1,339 |
Collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 19,811 | 20,693 |
Small Business Administration | ||
Financial Assets | ||
Securities available for sale | 16,241 | 16,706 |
Small Business Administration | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 16,241 | 16,706 |
U.S. Treasury and U.S. government sponsored entities | ||
Financial Assets | ||
Securities available for sale | 5,422 | 5,921 |
U.S. Treasury and U.S. government sponsored entities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 5,422 | 5,921 |
State and political subdivisions | ||
Financial Assets | ||
Securities available for sale | 165,025 | 155,303 |
State and political subdivisions | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 165,025 | 155,303 |
Mortgage-backed securities - residential | ||
Financial Assets | ||
Securities available for sale | 169,178 | 169,682 |
Mortgage-backed securities - residential | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 169,178 | 169,682 |
Equity securities | ||
Financial Assets | ||
Securities available for sale | 354 | 351 |
Equity securities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 354 | 351 |
Interest rate swaps | Fair Value, Measurements, Recurring | ||
Financial Liabilities | ||
Derivative liabilities | 629 | 685 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 354 | 351 |
Loan yield maintenance provisions | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Small Business Administration | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury and U.S. government sponsored entities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | State and political subdivisions | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities - residential | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity securities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 354 | 351 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate swaps | Fair Value, Measurements, Recurring | ||
Financial Liabilities | ||
Derivative liabilities | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 376,707 | 369,632 |
Loan yield maintenance provisions | 629 | 685 |
Significant Other Observable Inputs (Level 2) | Corporate bonds | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 1,041 | 1,339 |
Significant Other Observable Inputs (Level 2) | Collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 19,811 | 20,693 |
Significant Other Observable Inputs (Level 2) | Small Business Administration | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 16,241 | 16,706 |
Significant Other Observable Inputs (Level 2) | U.S. Treasury and U.S. government sponsored entities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 5,422 | 5,921 |
Significant Other Observable Inputs (Level 2) | State and political subdivisions | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 165,025 | 155,303 |
Significant Other Observable Inputs (Level 2) | Mortgage-backed securities - residential | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 169,167 | 169,670 |
Significant Other Observable Inputs (Level 2) | Equity securities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Interest rate swaps | Fair Value, Measurements, Recurring | ||
Financial Liabilities | ||
Derivative liabilities | 629 | 685 |
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 11 | 12 |
Loan yield maintenance provisions | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Corporate bonds | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Small Business Administration | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | U.S. Treasury and U.S. government sponsored entities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | State and political subdivisions | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Mortgage-backed securities - residential | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 11 | 12 |
Significant Unobservable Inputs (Level 3) | Equity securities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Interest rate swaps | Fair Value, Measurements, Recurring | ||
Financial Liabilities | ||
Derivative liabilities | $ 0 | $ 0 |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Fair value assets liabilities transfers amount between level 1 and level 2 | $ 0 | $ 0 | |
Impaired loans, unpaid principal balance with allowance recorded | 2,238,000 | $ 2,710,000 | |
Impaired loans, allowance | 101,000 | 249,000 | |
Provision for loan losses | 1,050,000 | 780,000 | 0 |
Troubled debt restructurings | $ 6,200,000 | 7,000,000 | |
Maximum maturity period of short term borrowings | 90 days | ||
Measured Using Present Value of Cash Flows | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Troubled debt restructurings | $ 2,000,000 | 2,000,000 | |
Collateral Dependent Impaired Loans | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans, unpaid principal balance with allowance recorded | 188,000 | 727,000 | |
Impaired loans, allowance | 23,000 | $ 173,000 | |
Provision for loan losses | $ 4,000 | $ 0 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs | ||
Beginning Balance | $ 12 | $ 15 |
Total unrealized gains or losses: | ||
Included in other comprehensive income | 0 | 0 |
Repayments, calls and maturities | (1) | (1) |
Ending Balance | $ 11 | $ 14 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | $ 6,295 | $ 7,338 |
Commercial real estate, Owner occupied | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 23 | 23 |
Other real estate owned, 1–4 family residential | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 16 | 16 |
Commercial real estate, Farmland | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 339 | |
Commercial, Agricultural | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 113 | |
Residential Real Estate | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 139 | 77 |
Consumer | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 3 | 2 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial real estate, Owner occupied | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other real estate owned, 1–4 family residential | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial real estate, Farmland | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial, Agricultural | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Residential Real Estate | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Consumer | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Commercial real estate, Owner occupied | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Other real estate owned, 1–4 family residential | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Commercial real estate, Farmland | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | |
Significant Other Observable Inputs (Level 2) | Commercial, Agricultural | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | |
Significant Other Observable Inputs (Level 2) | Residential Real Estate | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Consumer | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Commercial real estate, Owner occupied | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 23 | 23 |
Significant Unobservable Inputs (Level 3) | Other real estate owned, 1–4 family residential | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 16 | 16 |
Significant Unobservable Inputs (Level 3) | Commercial real estate, Farmland | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 339 | |
Significant Unobservable Inputs (Level 3) | Commercial, Agricultural | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 113 | |
Significant Unobservable Inputs (Level 3) | Residential Real Estate | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 139 | 77 |
Significant Unobservable Inputs (Level 3) | Consumer | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | $ 3 | $ 2 |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair value measurements for financial instruments | ||
Recorded Investment | $ 6,295 | $ 7,338 |
Fair Value, Measurements, Nonrecurring | Residential Real Estate | ||
Fair value measurements for financial instruments | ||
Recorded Investment | 139 | 77 |
Fair Value, Measurements, Nonrecurring | Consumer | ||
Fair value measurements for financial instruments | ||
Recorded Investment | 3 | 2 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial real estate | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 23 | $ 23 |
Fair Value Measurements Valuation Technique(s) Description | Sales Comparison | Sales comparison |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial real estate | Weighted Average | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (24.02%) | (24.02%) |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 139 | $ 77 |
Fair Value Measurements Valuation Technique(s) Description | Sales comparison | Sales comparison |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | Minimum | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (12.97%) | (12.97%) |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | Maximum | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 14.22% | 14.22% |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | Weighted Average | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (3.38%) | (3.38%) |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 3 | $ 2 |
Fair Value Measurements Valuation Technique(s) Description | Sales comparison | Sales comparison |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | Minimum | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (15.97%) | (20.00%) |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | Maximum | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 15.97% | 20.00% |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | Weighted Average | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 0.00% | 0.00% |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Other Real Estate Owned Residential | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 16 | $ 16 |
Fair Value Measurements Valuation Technique(s) Description | Sales comparison | Sales comparison |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Other Real Estate Owned Residential | Minimum | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (10.36%) | (10.36%) |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Other Real Estate Owned Residential | Maximum | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 17.10% | 17.10% |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Other Real Estate Owned Residential | Weighted Average | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (1.90%) | (1.90%) |
Fair Value, Measurements, Nonrecurring | Quoted price for loan relationship | Commercial real estate | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 339 | |
Fair Value Measurements Valuation Technique(s) Description | Quoted price for loan relationship | |
Fair Value, Measurements, Nonrecurring | Quoted price for loan relationship | Commercial real estate | Weighted Average | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 35.77% | |
Fair Value, Measurements, Nonrecurring | Quoted price for loan relationship | Commercial | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 113 | |
Fair Value Measurements Valuation Technique(s) Description | Quoted price for loan relationship | |
Fair Value, Measurements, Nonrecurring | Quoted price for loan relationship | Commercial | Weighted Average | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 34.98% |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Financial assets | ||||
Cash and cash equivalents, Carrying Amount | $ 61,251 | $ 41,778 | $ 34,619 | $ 56,014 |
Restricted stock, Carrying Amount | 9,974 | 9,583 | ||
Loans held for sale, Carrying Amount | 1,098 | 355 | ||
Loans, net, Carrying Amount | 1,450,142 | 1,416,783 | ||
Mortgage servicing rights, Carrying Amount | 928 | 854 | ||
Accrued interest receivable, Carrying Amount | 5,797 | 5,504 | ||
Financial liabilities | ||||
Deposits, Carrying Amount | 1,540,220 | 1,524,756 | ||
Short-term borrowings, Carrying Amount | 235,228 | 198,460 | ||
Long-term borrowings | 9,841 | 15,036 | ||
Accrued interest payable, Carrying Amount | 507 | 507 | ||
Fair Value, Measurements, Recurring | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 61,251 | 41,778 | ||
Loans held for sale, Fair Value | 1,128 | 365 | ||
Loans, net, Fair Value | 1,445,211 | 1,406,951 | ||
Mortgage servicing rights, Fair Value | 928 | 854 | ||
Accrued interest receivable, Fair Value | 5,797 | 5,504 | ||
Financial liabilities | ||||
Deposits, Fair Value | 1,537,050 | 1,521,447 | ||
Short-term borrowings, Fair Value | 235,228 | 198,460 | ||
Long-term borrowings, Fair Value | 9,798 | 15,009 | ||
Accrued interest payable, Fair value | 507 | 507 | ||
Fair Value, Measurements, Recurring | Level 1 | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 19,577 | 19,678 | ||
Loans held for sale, Fair Value | 0 | 0 | ||
Loans, net, Fair Value | 0 | 0 | ||
Mortgage servicing rights, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 0 | 0 | ||
Financial liabilities | ||||
Deposits, Fair Value | 1,306,295 | 1,289,037 | ||
Short-term borrowings, Fair Value | 0 | 0 | ||
Long-term borrowings, Fair Value | 0 | 0 | ||
Accrued interest payable, Fair value | 35 | 35 | ||
Fair Value, Measurements, Recurring | Level 2 | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 41,674 | 22,100 | ||
Loans held for sale, Fair Value | 1,128 | 365 | ||
Loans, net, Fair Value | 0 | 0 | ||
Mortgage servicing rights, Fair Value | 928 | 854 | ||
Accrued interest receivable, Fair Value | 2,032 | 1,924 | ||
Financial liabilities | ||||
Deposits, Fair Value | 230,755 | 232,410 | ||
Short-term borrowings, Fair Value | 235,228 | 198,460 | ||
Long-term borrowings, Fair Value | 9,798 | 15,009 | ||
Accrued interest payable, Fair value | 472 | 472 | ||
Fair Value, Measurements, Recurring | Level 3 | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | ||
Loans held for sale, Fair Value | 0 | 0 | ||
Loans, net, Fair Value | 1,445,211 | 1,406,951 | ||
Mortgage servicing rights, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 3,765 | 3,580 | ||
Financial liabilities | ||||
Deposits, Fair Value | 0 | 0 | ||
Short-term borrowings, Fair Value | 0 | 0 | ||
Long-term borrowings, Fair Value | 0 | 0 | ||
Accrued interest payable, Fair value | $ 0 | $ 0 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||
Goodwill and other intangibles | $ 44,789 | $ 45,154 | |
Total assets | 2,026,487 | 1,966,113 | |
Net interest income | 17,531 | $ 16,747 | |
Provision for loan losses | 1,050 | 780 | 0 |
Service fees, security gains and other noninterest income | 5,887 | 4,946 | |
Noninterest expense | 13,734 | 13,540 | |
Amortization and depreciation expense | 879 | 904 | |
INCOME BEFORE INCOME TAXES | 7,755 | 6,469 | |
Income taxes | 1,972 | 1,671 | |
NET INCOME | 5,783 | 4,798 | |
Eliminations And Others | |||
Segment Reporting Information [Line Items] | |||
Goodwill and other intangibles | (646) | (646) | |
Total assets | 1,945 | 2,805 | |
Net interest income | (20) | (20) | |
Provision for loan losses | 0 | 0 | |
Service fees, security gains and other noninterest income | (73) | (25) | |
Noninterest expense | 43 | 390 | |
Amortization and depreciation expense | 12 | 25 | |
INCOME BEFORE INCOME TAXES | (148) | (460) | |
Income taxes | (144) | (142) | |
NET INCOME | (4) | (318) | |
Trust Segment | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Goodwill and other intangibles | 4,617 | 4,681 | |
Total assets | 11,225 | 10,980 | |
Net interest income | 26 | 20 | |
Provision for loan losses | 0 | 0 | |
Service fees, security gains and other noninterest income | 1,678 | 1,521 | |
Noninterest expense | 1,199 | 1,152 | |
Amortization and depreciation expense | 69 | 76 | |
INCOME BEFORE INCOME TAXES | 436 | 313 | |
Income taxes | 152 | 107 | |
NET INCOME | 284 | 206 | |
Bank Segment | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Goodwill and other intangibles | 37,994 | 38,235 | |
Total assets | 2,009,727 | 1,948,800 | |
Net interest income | 17,525 | 16,747 | |
Provision for loan losses | 1,050 | 780 | |
Service fees, security gains and other noninterest income | 3,769 | 2,961 | |
Noninterest expense | 12,120 | 11,627 | |
Amortization and depreciation expense | 735 | 714 | |
INCOME BEFORE INCOME TAXES | 7,389 | 6,587 | |
Income taxes | 1,937 | 1,696 | |
NET INCOME | 5,452 | 4,891 | |
Retirement Consulting Segment | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Goodwill and other intangibles | 2,824 | 2,884 | |
Total assets | 3,590 | $ 3,528 | |
Net interest income | 0 | 0 | |
Provision for loan losses | 0 | 0 | |
Service fees, security gains and other noninterest income | 513 | 489 | |
Noninterest expense | 372 | 371 | |
Amortization and depreciation expense | 63 | 89 | |
INCOME BEFORE INCOME TAXES | 78 | 29 | |
Income taxes | 27 | 10 | |
NET INCOME | $ 51 | $ 19 |
Goodwill and Intangible Asset78
Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||
Goodwill associated with the Company's purchase of National Associates, Inc. and Farmers Trust Company | $ 37,164 | $ 37,164 | |
Aggregate amortization expense | $ 365 | $ 337 |
Goodwill and Intangible Asset79
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Acquired intangible assets | ||
Gross Carrying Amount | $ 13,742 | $ 13,742 |
Accumulated Amortization | (6,117) | (5,752) |
Customer Relationships | ||
Acquired intangible assets | ||
Gross Carrying Amount | 7,210 | 7,210 |
Accumulated Amortization | (4,420) | (4,253) |
Non-compete contracts | ||
Acquired intangible assets | ||
Gross Carrying Amount | 430 | 430 |
Accumulated Amortization | (362) | (357) |
Trade name | ||
Acquired intangible assets | ||
Gross Carrying Amount | 520 | 520 |
Accumulated Amortization | (129) | (113) |
Core Deposits | ||
Acquired intangible assets | ||
Gross Carrying Amount | 5,582 | 5,582 |
Accumulated Amortization | $ (1,206) | $ (1,029) |
Goodwill and Intangible Asset80
Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Finite Lived Intangible Assets Future Amortization Expense [Abstract] | ||
2017 (Nine months) | $ 1,094 | |
2,018 | 1,334 | |
2,019 | 1,222 | |
2,020 | 1,119 | |
2,021 | 1,058 | |
Thereafter | 1,798 | |
TOTAL | $ 7,625 | $ 7,990 |
Short-term borrowings (Details
Short-term borrowings (Details Textual) | Mar. 31, 2017USD ($)Institution | Dec. 31, 2016USD ($)Institution |
Short Term Debt [Line Items] | ||
Short-term Federal Home Loan Banks advances | $ 150,000,000 | $ 120,000,000 |
Securities sold under repurchase agreements | 84,900,000 | 78,100,000 |
Federal funds purchased | 0 | 0 |
Business line of credit | $ 350,000 | $ 350,000 |
Number of lending institutions | Institution | 1 | 1 |
Weighted Average | ||
Short Term Debt [Line Items] | ||
Weighted average interest rate | 0.89% |
Short-term borrowings (Details)
Short-term borrowings (Details) - Repurchase agreement - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | $ 84,878 | $ 78,110 |
U.S. Treasury and U.S. government sponsored entities | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | 6,903 | 6,555 |
State and political subdivisions | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | 12,378 | 12,304 |
Mortgage-backed securities - residential | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | 58,604 | 52,628 |
Collateralized mortgage obligations - residential | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | $ 6,993 | $ 6,623 |