Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | Apr. 30, 2019 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | FARMERS NATIONAL BANC CORP /OH/ | |
Entity Central Index Key | 0000709337 | |
Document Type | 10-Q | |
Trading Symbol | FMNB | |
Document Period End Date | Mar. 31, 2019 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 27,813,956 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 20,869 | $ 18,042 |
Federal funds sold and other | 48,803 | 39,884 |
TOTAL CASH AND CASH EQUIVALENTS | 69,672 | 57,926 |
Securities available for sale | 403,770 | 402,190 |
Equity securities | 7,460 | 7,130 |
Loans held for sale | 2,360 | 1,237 |
Loans | 1,743,651 | 1,735,840 |
Less allowance for loan losses | 13,777 | 13,592 |
NET LOANS | 1,729,874 | 1,722,248 |
Premises and equipment, net | 24,345 | 21,211 |
Goodwill | 38,201 | 38,201 |
Other intangibles | 5,424 | 5,751 |
Bank owned life insurance | 34,972 | 34,758 |
Other assets | 39,996 | 38,212 |
TOTAL ASSETS | 2,356,074 | 2,328,864 |
Deposits: | ||
Noninterest-bearing | 415,131 | 421,950 |
Interest-bearing | 1,438,909 | 1,352,770 |
Brokered time deposits | 100,293 | 25,000 |
TOTAL DEPOSITS | 1,954,333 | 1,799,720 |
Short-term borrowings | 103,498 | 244,759 |
Long-term borrowings | 5,850 | 6,033 |
Other liabilities | 19,442 | 16,032 |
TOTAL LIABILITIES | 2,083,123 | 2,066,544 |
Commitments and contingent liabilities | ||
Stockholders’ Equity: | ||
Common Stock - Authorized 50,000,000 shares; issued 28,179,598 in 2019 and 2018 | 186,483 | 186,163 |
Retained earnings | 89,518 | 83,630 |
Accumulated other comprehensive income (loss) | 595 | (4,030) |
Treasury stock, at cost; 402,690 shares in 2019 and 387,697 in 2018 | (3,645) | (3,443) |
TOTAL STOCKHOLDERS’ EQUITY | 272,951 | 262,320 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 2,356,074 | $ 2,328,864 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - shares | Mar. 31, 2019 | Dec. 31, 2018 |
Statement Of Financial Position [Abstract] | ||
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 28,179,598 | 28,179,598 |
Treasury stock, shares | 402,690 | 387,697 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
INTEREST AND DIVIDEND INCOME | ||
Loans, including fees | $ 21,469 | $ 18,427 |
Taxable securities | 1,244 | 1,233 |
Tax exempt securities | 1,595 | 1,331 |
Dividends | 175 | 146 |
Federal funds sold and other interest income | 196 | 145 |
TOTAL INTEREST AND DIVIDEND INCOME | 24,679 | 21,282 |
INTEREST EXPENSE | ||
Deposits | 3,435 | 1,411 |
Short-term borrowings | 1,231 | 881 |
Long-term borrowings | 48 | 44 |
TOTAL INTEREST EXPENSE | 4,714 | 2,336 |
NET INTEREST INCOME | 19,965 | 18,946 |
Provision for loan losses | 550 | 775 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 19,415 | 18,171 |
NONINTEREST INCOME | ||
Bank owned life insurance income | 214 | 222 |
Security gains, including fair value changes for equity securities | 10 | 18 |
Net gains on sale of loans | 671 | 487 |
Other operating income | 494 | 333 |
TOTAL NONINTEREST INCOME | 6,520 | 6,010 |
NONINTEREST EXPENSES | ||
Salaries and employee benefits | 9,356 | 8,738 |
Occupancy and equipment | 1,717 | 1,704 |
State and local taxes | 470 | 459 |
Professional fees | 794 | 698 |
Merger related costs | 0 | 25 |
Advertising | 250 | 275 |
FDIC insurance | 87 | 222 |
Intangible amortization | 327 | 354 |
Core processing charges | 791 | 739 |
Telephone and data | 260 | 237 |
Other operating expenses | 1,925 | 1,645 |
TOTAL NONINTEREST EXPENSES | 15,977 | 15,096 |
INCOME BEFORE INCOME TAXES | 9,958 | 9,085 |
INCOME TAXES | 1,570 | 1,359 |
NET INCOME | $ 8,388 | $ 7,726 |
EARNINGS PER SHARE - basic and diluted | $ 0.30 | $ 0.28 |
Service Charges on Deposit Accounts | ||
NONINTEREST INCOME | ||
Noninterest income | $ 1,074 | $ 1,003 |
Trust Fees | ||
NONINTEREST INCOME | ||
Noninterest income | 1,858 | 1,807 |
Insurance Agency Commissions | ||
NONINTEREST INCOME | ||
Noninterest income | 803 | 699 |
Retirement Plan Consulting Fees | ||
NONINTEREST INCOME | ||
Noninterest income | 358 | 379 |
Investment Commissions | ||
NONINTEREST INCOME | ||
Noninterest income | 260 | 256 |
Debit Card and EFT Fees | ||
NONINTEREST INCOME | ||
Noninterest income | $ 778 | $ 806 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Statement Of Income And Comprehensive Income [Abstract] | |||
NET INCOME | $ 8,388 | $ 7,726 | |
Other comprehensive income: | |||
Net unrealized holding gains (losses) on available for sale securities | 5,821 | (8,886) | |
Reclassification adjustment for losses (gains) realized in income | [1] | 34 | (2) |
Net unrealized holding gains (losses) | 5,855 | (8,888) | |
Income tax effect | (1,230) | 1,866 | |
Other comprehensive income (loss), net of tax | 4,625 | (7,022) | |
TOTAL COMPREHENSIVE INCOME | $ 13,013 | $ 704 | |
[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) - USD ($) $ in Thousands | Total | COMMON STOCK | RETAINED EARNINGS | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | TREASURY STOCK, AT COST |
Cumulative effect adjustment upon adoption of ASU 2016-01 | $ 169 | $ (169) | |||
Beginning balance adjusted | 59,377 | 427 | |||
Balance at beginning of year at Dec. 31, 2017 | $ 186,903 | 59,208 | 596 | $ (4,633) | |
Issued 0 shares in 2019 and 96,873 shares in 2018 under the Long Term Incentive Plan | (706) | 706 | |||
Stock compensation expense for unvested shares | 397 | ||||
Net income | $ 7,726 | 7,726 | |||
Dividends declared | (1,935) | ||||
Other comprehensive income (loss) | (7,022) | (7,022) | |||
Purchased 14,993 shares in 2019 and 0 in 2018 | 0 | ||||
Balance at end of year at Mar. 31, 2018 | 241,240 | 186,594 | 65,168 | (6,595) | (3,927) |
Cumulative effect adjustment upon adoption of ASU 2016-01 | 0 | 0 | |||
Beginning balance adjusted | 83,630 | (4,030) | |||
Balance at beginning of year at Dec. 31, 2018 | 262,320 | 186,163 | 83,630 | (4,030) | (3,443) |
Issued 0 shares in 2019 and 96,873 shares in 2018 under the Long Term Incentive Plan | 0 | 0 | |||
Stock compensation expense for unvested shares | 320 | ||||
Net income | 8,388 | 8,388 | |||
Dividends declared | (2,500) | ||||
Other comprehensive income (loss) | 4,625 | 4,625 | |||
Purchased 14,993 shares in 2019 and 0 in 2018 | (202) | ||||
Balance at end of year at Mar. 31, 2019 | $ 272,951 | $ 186,483 | $ 89,518 | $ 595 | $ (3,645) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Parenthetical) Unaudited - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
COMMON STOCK | ||
Shares issued under long term incentive plan | 0 | 96,873 |
RETAINED EARNINGS | ||
Cash dividend declared per share of common stock | $ 0.09 | $ 0.07 |
TREASURY STOCK, AT COST | ||
Shares issued under long term incentive plan | 0 | 96,873 |
Treasury stock repurchased | 14,993 | 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 8,388 | $ 7,726 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Provision for loan losses | 550 | 775 |
Depreciation and amortization | 709 | 749 |
Net amortization of securities | 538 | 756 |
Available for sale security loss | 34 | 0 |
Realized and unrealized (gains) loss on equity securities | (44) | (18) |
Loss on land and building sales, net | 8 | 0 |
Stock compensation expense | 320 | 397 |
(Gain) loss on adjustment of other real estate owned | 60 | (30) |
Earnings on bank owned life insurance | (214) | (222) |
Origination of loans held for sale | (10,695) | (9,226) |
Proceeds from loans held for sale | 10,243 | 9,586 |
Net gains on sale of loans | (671) | (487) |
Net change in other assets and liabilities | (3,993) | (28) |
NET CASH FROM OPERATING ACTIVITIES | 5,233 | 9,978 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from maturities and repayments of securities available for sale | 5,635 | 12,968 |
Proceeds from sales of securities available for sale | 9,646 | 0 |
Purchases of securities available for sale | (10,153) | (13,692) |
Proceeds from sales of equity securities | 121 | 262 |
Purchase of equity securities | (351) | (643) |
Proceeds from redemption of restricted stock | 8 | 0 |
Purchase of restricted stock | 0 | (643) |
Loan originations and payments, net | (8,444) | (22,521) |
Proceeds from sale of other real estate owned | 0 | 165 |
Proceeds from land and building sales | 62 | 0 |
Additions to premises and equipment | (466) | (89) |
NET CASH FROM INVESTING ACTIVITIES | (3,942) | (24,193) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | 154,613 | 32,440 |
Net change in short-term borrowings | (141,261) | (21,553) |
Repayment of long-term borrowings | (195) | (202) |
Cash dividends paid | (2,500) | (1,935) |
Repurchase of common shares | (202) | 0 |
NET CASH FROM FINANCING ACTIVITIES | 10,455 | 8,750 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 11,746 | (5,465) |
Beginning cash and cash equivalents | 57,926 | 57,614 |
Ending cash and cash equivalents | 69,672 | 52,149 |
Supplemental cash flow information: | ||
Interest paid | 4,536 | 2,306 |
Supplemental noncash disclosures: | ||
Transfer of loans to other real estate | 268 | 23 |
Security purchases not settled | 1,426 | 300 |
Issuance of stock awards | $ 0 | $ 706 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 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 consolidated financial statements also include the accounts of the Bank’s subsidiaries; Farmers National Insurance, LLC (“Insurance”) and Farmers of Canfield Investment Co. (“Investments”). The Company provides trust services through its subsidiary, Farmers Trust Company (“Trust”), retirement consulting services through National Associates, Inc. (“NAI”) and insurance services through the Bank’s subsidiary, Insurance. Farmers National Captive, Inc. (“Captive”) is a wholly-owned insurance subsidiary of the Company that provides property and casualty insurance coverage to the Company and its subsidiaries. The Captive pools resources with thirteen other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves and to provide insurance where not currently available or economically feasible in today’s insurance market place. The consolidated financial statements include the accounts of the Company, the Bank and its subsidiaries, along with the Trust, NAI and Captive. All significant intercompany balances and transactions have been eliminated in the consolidation. 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 2018 Annual Report to Shareholders included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. 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. Equity: The Company, with the approval of shareholders at the April 2018 annual meeting, increased the authorized shares available for issuance from 35,000,000 to 50,000,000 shares. Outstanding shares at March 31, 2019 were 27,776,908. 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 which are recognized as components of stockholders equity, net of tax effect. 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 In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In June 2016, the FASB issued ASU 2016-13: Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Codification Improvements to Topic 326, Financial Instruments Credit Losses) 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). The Company adopted ASC 606 using the modified retrospective method applied to all contracts not completed as of January 1, 2018. The adoption of ASC 606 did not result in a change to the accounting for any of the in-scope revenue streams; as such, no cumulative effect adjustment was recorded. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 and December 31, 2018 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, 2019 U.S. Treasury and U.S. government sponsored entities $ 5,911 $ 4 $ (68 ) $ 5,847 State and political subdivisions 211,197 4,080 (541 ) 214,736 Corporate bonds 1,206 4 (7 ) 1,203 Mortgage-backed securities - residential 151,555 241 (2,188 ) 149,608 Collateralized mortgage obligations - residential 21,196 162 (673 ) 20,685 Small Business Administration 11,936 0 (245 ) 11,691 Totals $ 403,001 $ 4,491 $ (3,722 ) $ 403,770 Gross Gross (In Thousands of Dollars) Amortized Unrealized Unrealized Cost Gains Losses Fair Value December 31, 2018 U.S. Treasury and U.S. government sponsored entities $ 6,111 $ 0 $ (102 ) $ 6,009 State and political subdivisions 211,762 2,075 (1,893 ) 211,944 Corporate bonds 1,206 0 (18 ) 1,188 Mortgage-backed securities - residential 154,130 84 (4,167 ) 150,047 Collateralized mortgage obligations - residential 21,775 72 (775 ) 21,072 Small Business Administration 12,292 0 (362 ) 11,930 Totals $ 407,276 $ 2,231 $ (7,317 ) $ 402,190 Proceeds from the sale of portfolio securities were $9.8 million during the three month period ended March 31, 2019. Gross gains of $22 thousand along with gross losses of $56 thousand were realized on these sales during the three month period ended March 31, 2019. $44 thousand of gains were recognized in the income statement for equity securities during the same three month period as a result of adoption of ASU 2016-01. Proceeds from the sale of portfolio securities were $262 thousand during the three 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, 2019 (In Thousands of Dollars) Amortized Cost Fair Value Maturity Within one year $ 6,076 $ 6,095 One to five years 35,119 35,397 Five to ten years 152,330 155,259 Beyond ten years 24,789 25,035 Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities 184,687 181,984 Total $ 403,001 $ 403,770 The following table summarizes the investment securities with unrealized losses at March 31, 2019 and December 31, 2018, aggregated by major security type and length of time in a continuous unrealized loss position. Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands of Dollars) Value Loss Value Loss Value Loss March 31, 2019 U.S. Treasury and U.S. government sponsored entities $ 0 $ 0 $ 5,098 $ (68 ) $ 5,098 $ (68 ) State and political subdivisions 3,039 (7 ) 38,090 (534 ) 41,129 (541 ) Corporate bonds 0 0 678 (7 ) 678 (7 ) Mortgage-backed securities - residential 22 0 129,244 (2,188 ) 129,266 (2,188 ) Collateralized mortgage obligations - residential 0 0 13,560 (673 ) 13,560 (673 ) Small Business Administration 7 0 11,684 (245 ) 11,691 (245 ) Total temporarily impaired $ 3,068 $ (7 ) $ 198,354 $ (3,715 ) $ 201,422 $ (3,722 ) Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands of Dollars) Value Loss Value Loss Value Loss December 31, 2018 U.S. Treasury and U.S. government sponsored entities $ 648 $ (2 ) $ 5,065 $ (100 ) $ 5,713 $ (102 ) State and political subdivisions 23,569 (201 ) 64,174 (1,692 ) 87,743 (1,893 ) Corporate bonds 516 (4 ) 672 (14 ) 1,188 (18 ) Mortgage-backed securities - residential 13,002 (114 ) 126,200 (4,053 ) 139,202 (4,167 ) Collateralized mortgage obligations - residential 20 (1 ) 14,003 (774 ) 14,023 (775 ) Small Business Administration 11 0 11,919 (362 ) 11,930 (362 ) Total temporarily impaired $ 37,766 $ (322 ) $ 222,033 $ (6,995 ) $ 259,799 $ (7,317 ) 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. As of March 31, 2019, the Company’s security portfolio consisted of 576 securities, 196 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, 2019 | |
Receivables [Abstract] | |
Loans | Loans: Loan balances were as follows: (In Thousands of Dollars) March 31, 2019 December 31, 2018 Originated loans: Commercial real estate Owner occupied $ 164,818 $ 158,947 Non-owner occupied 256,377 256,124 Farmland 114,910 110,881 Other 101,149 94,527 Commercial Commercial and industrial 237,822 227,031 Agricultural 35,288 37,623 Residential real estate 1-4 family residential 307,647 307,794 Home equity lines of credit 82,888 82,690 Consumer Indirect 160,560 164,509 Direct 29,549 30,277 Other 10,789 11,894 Total originated loans $ 1,501,797 $ 1,482,297 Acquired loans: Commercial real estate Owner occupied $ 43,554 $ 44,872 Non-owner occupied 16,199 16,920 Farmland 40,399 40,983 Other 7,122 8,091 Commercial Commercial and industrial 17,135 18,141 Agricultural 7,613 9,526 Residential real estate 1-4 family residential 75,774 78,786 Home equity lines of credit 22,545 23,617 Consumer Direct 8,481 9,442 Other 162 162 Total acquired loans $ 238,984 $ 250,540 Net Deferred loan costs 2,870 3,003 Allowance for loan losses (13,777 ) (13,592 ) Net loans $ 1,729,874 $ 1,722,248 Purchased credit impaired loans As part of past acquisitions 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, 2019 December 31, 2018 Commercial real estate Non-owner occupied $ 275 $ 292 Commercial Commercial and industrial 856 899 Total outstanding balance $ 1,131 $ 1,191 Carrying amount, net of allowance of $0 in 2019 and 2018 $ 849 $ 903 Accretable yield, or income expected to be collected, is shown in the table below: Three Months Ended (In Thousands of Dollars) March 31, 2019 March 31, 2018 Beginning balance $ 93 $ 170 New loans purchased 0 0 Accretion of income (7 ) (19 ) Ending balance $ 86 $ 151 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 month periods ended March 31, 2019 and 2018. The following tables present the activity in the allowance for loan losses by portfolio segment for the three month periods ended March 31, 2019 and 2018: Three Months Ended March 31, 2019 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 5,036 $ 2,093 $ 2,837 $ 2,963 $ 663 $ 13,592 Provision for loan losses 159 107 (28 ) 182 130 550 Loans charged off 0 (44 ) (21 ) (501 ) 0 (566 ) Recoveries 0 1 25 175 0 201 Total ending allowance balance $ 5,195 $ 2,157 $ 2,813 $ 2,819 $ 793 $ 13,777 Three Months Ended March 31, 2018 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 4,260 $ 2,011 $ 2,521 $ 2,848 $ 675 $ 12,315 Provision for loan losses 142 147 75 527 (116 ) 775 Loans charged off 0 (97 ) (56 ) (629 ) 0 (782 ) Recoveries 2 1 61 178 0 242 Total ending allowance balance $ 4,404 $ 2,062 $ 2,601 $ 2,924 $ 559 $ 12,550 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, 2019 and December 31, 2018. The recorded investment in loans includes the unpaid principal balance and unamortized loan origination fees and costs: March 31, 2019 (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 $ 6 $ 3 $ 261 $ 0 $ 0 $ 270 Collectively evaluated for impairment 5,151 2,144 2,526 2,817 793 13,431 Acquired loans collectively evaluated for impairment 38 10 26 2 0 76 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 5,195 $ 2,157 $ 2,813 $ 2,819 $ 793 $ 13,777 Loans: Loans individually evaluated for impairment $ 623 $ 213 $ 4,538 $ 150 $ 0 $ 5,524 Loans collectively evaluated for impairment 635,532 272,663 385,831 206,129 0 1,500,155 Acquired loans 106,724 24,040 97,738 8,621 0 237,123 Acquired with deteriorated credit quality 245 604 0 0 0 849 Total ending loans balance $ 743,124 $ 297,520 $ 488,107 $ 214,900 $ 0 $ 1,743,651 December 31, 2018 (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 $ 6 $ 3 $ 267 $ 0 $ 0 $ 276 Collectively evaluated for impairment 4,981 2,075 2,534 2,960 663 13,213 Acquired loans collectively evaluated for impairment 49 15 36 3 0 103 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 5,036 $ 2,093 $ 2,837 $ 2,963 $ 663 $ 13,592 Loans: Loans individually evaluated for impairment $ 790 $ 223 $ 4,627 $ 83 $ 0 $ 5,723 Loans collectively evaluated for impairment 618,729 264,208 385,702 212,130 0 1,480,769 Acquired loans 110,143 26,916 101,804 9,582 0 248,445 Acquired with deteriorated credit quality 262 641 0 0 0 903 Total ending loans balance $ 729,924 $ 291,988 $ 492,133 $ 221,795 $ 0 $ 1,735,840 The following tables present information related to impaired loans by class of loans as of March 31, 2019 and December 31, 2018: (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated March 31, 2019 With no related allowance recorded: Commercial real estate Owner occupied $ 362 $ 328 $ 0 Non-owner occupied 40 38 0 Commercial Commercial and industrial 184 154 0 Residential real estate 1-4 family residential 3,443 2,710 0 Home equity lines of credit 429 361 0 Consumer 264 127 0 Subtotal 4,722 3,718 0 With an allowance recorded: Commercial real estate Farmland 258 257 6 Commercial Commercial and industrial 59 59 3 Residential real estate 1-4 family residential 1,286 1,277 185 Home equity lines of credit 203 190 76 Consumer 22 23 0 Subtotal 1,828 1,806 270 Total $ 6,550 $ 5,524 $ 270 (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated December 31, 2018 With no related allowance recorded: Commercial real estate Owner occupied $ 524 $ 494 $ 0 Non-owner occupied 40 38 0 Commercial Commercial and industrial 191 162 0 Residential real estate 1-4 family residential 3,451 2,759 0 Home equity lines of credit 379 326 0 Consumer 174 83 0 Subtotal 4,759 3,862 0 With an allowance recorded: Commercial real estate Farmland 258 258 6 Commercial Commercial and industrial 61 61 3 Residential real estate 1-4 family residential 1,354 1,343 188 Home equity lines of credit 224 199 79 Consumer 0 0 0 Subtotal 1,897 1,861 276 Total $ 6,656 $ 5,723 $ 276 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, 2019 and 2018: Average Recorded Investment Interest Income Recognized For Three Months Ended March 31, For Three Months Ended March 31, (In Thousands of Dollars) 2019 2018 2019 2018 With no related allowance recorded: Commercial real estate Owner occupied $ 331 $ 420 $ 4 $ 7 Non-owner occupied 38 0 0 0 Commercial Commercial and industrial 157 873 2 1 Residential real estate 1-4 family residential 2,693 2,636 43 49 Home equity lines of credit 347 325 5 4 Consumer 112 63 3 3 Subtotal 3,678 4,317 57 64 With an allowance recorded: Commercial real estate Farmland 257 0 0 0 Commercial Commercial and industrial 59 67 1 1 Residential real estate 1-4 family residential 1,319 1,429 8 10 Home equity lines of credit 196 155 2 2 Consumer 8 1 0 0 Subtotal 1,839 1,652 11 13 Total $ 5,517 $ 5,969 $ 68 $ 77 Cash basis interest recognized during the three month periods ended March 31, 2019 and 2018 was not materially different from interest income recognized under the accrual method. 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, 2019 and December 31, 2018: March 31, 2019 December 31, 2018 (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 $ 330 $ 0 $ 340 $ 0 Farmland 26 0 30 0 Commercial Commercial and industrial 439 0 122 0 Agricultural 158 0 158 0 Residential real estate 1-4 family residential 2,201 92 2,318 185 Home equity lines of credit 673 57 644 31 Consumer Indirect 369 198 346 369 Direct 83 101 54 200 Other 8 0 2 Total originated loans $ 4,279 $ 456 $ 4,012 $ 787 Acquired loans: Commercial real estate Non-owner occupied $ 48 $ 0 $ 82 $ 0 Farmland 257 0 257 0 Commercial Commercial and industrial 754 0 824 0 Agricultural 295 0 291 0 Residential real estate 1-4 family residential 780 151 1,001 122 Home equity lines of credit 270 53 203 14 Consumer Direct 82 153 95 43 Total acquired loans $ 2,486 $ 357 $ 2,753 $ 179 Total loans $ 6,765 $ 813 $ 6,765 $ 966 The following tables present the aging of the recorded investment in past due loans as of March 31, 2019 and December 31, 2018 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, 2019 Originated loans: Commercial real estate Owner occupied $ 55 $ 0 $ 330 $ 385 $ 164,062 $ 164,447 Non-owner occupied 183 22 0 205 255,559 255,764 Farmland 0 0 26 26 114,756 114,782 Other 0 0 0 0 100,866 100,866 Commercial Commercial and industrial 154 0 439 593 236,786 237,379 Agricultural 84 5 158 247 35,147 35,394 Residential real estate 1-4 family residential 3,275 11 2,293 5,579 301,303 306,882 Home equity lines of credit 0 153 730 883 82,025 82,908 Consumer Indirect 1,454 481 567 2,502 163,217 165,719 Direct 827 174 184 1,185 28,563 29,748 Other 37 8 8 53 10,737 10,790 Total originated loans: $ 6,069 $ 854 $ 4,735 $ 11,658 $ 1,493,021 $ 1,504,679 Acquired loans: Commercial real estate Owner occupied $ 43 $ 0 $ 0 $ 43 $ 43,610 $ 43,653 Non-owner occupied 0 0 48 48 16,044 16,092 Farmland 284 72 257 613 39,785 40,398 Other 0 0 0 0 7,122 7,122 Commercial Commercial and industrial 84 0 754 838 16,296 17,134 Agricultural 17 0 295 312 7,301 7,613 Residential real estate 1-4 family residential 1,031 0 931 1,962 73,810 75,772 Home equity lines of credit 146 165 323 634 21,911 22,545 Consumer Direct 300 14 235 549 7,932 8,481 Other 0 0 0 0 162 162 Total acquired loans $ 1,905 $ 251 $ 2,843 $ 4,999 $ 233,973 $ 238,972 Total loans $ 7,974 $ 1,105 $ 7,578 $ 16,657 $ 1,726,994 $ 1,743,651 (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, 2018 Originated loans: Commercial real estate Owner occupied $ 82 $ 0 $ 340 $ 422 $ 158,161 $ 158,583 Non-owner occupied 22 0 0 22 255,458 255,480 Farmland 184 0 30 214 110,547 110,761 Other 0 0 0 0 94,242 94,242 Commercial Commercial and industrial 159 0 122 281 226,320 226,601 Agricultural 69 10 158 237 37,484 37,721 Residential real estate 1-4 family residential 1,964 424 2,503 4,891 302,131 307,022 Home equity lines of credit 64 14 675 753 81,957 82,710 Consumer Indirect 1,714 755 715 3,184 166,622 169,806 Direct 714 340 254 1,308 29,183 30,491 Other 33 14 2 49 11,845 11,894 Total originated loans $ 5,005 $ 1,557 $ 4,799 $ 11,361 $ 1,473,950 $ 1,485,311 Acquired loans: Commercial real estate Owner occupied $ 321 $ 0 $ 0 $ 321 $ 44,618 $ 44,939 Non-owner occupied 0 0 82 82 16,764 16,846 Farmland 0 102 257 359 40,623 40,982 Other 0 0 0 0 8,091 8,091 Commercial Commercial and industrial 94 0 824 918 17,223 18,141 Agricultural 31 5 291 327 9,198 9,525 Residential real estate 1-4 family residential 750 229 1,123 2,102 76,682 78,784 Home equity lines of credit 208 0 217 425 23,192 23,617 Consumer Direct 318 257 138 713 8,729 9,442 Other 0 0 0 0 162 162 Total acquired loans $ 1,722 $ 593 $ 2,932 $ 5,247 $ 245,282 $ 250,529 Total loans $ 6,727 $ 2,150 $ 7,731 $ 16,608 $ 1,719,232 $ 1,735,840 |
Troubled Debt Restructurings
Troubled Debt Restructurings | 3 Months Ended |
Mar. 31, 2019 | |
Debt Disclosure [Abstract] | |
Troubled Debt Restructurings | Troubled Debt Restructurings: Total troubled debt restructurings were $5.3 million and $5.5 million at March 31, 2019 and December 31, 2018, respectively. The Company has allocated $66 thousand and $72 thousand of specific reserves to customers whose loan terms have been modified in troubled debt restructurings at March 31, 2019 and December 31, 2018, respectively. There were no commitments to lend additional amounts to borrowers with loans that were classified as troubled debt restructurings at March 31, 2019 and at December 31, 2018. During the three month periods ended March 31, 2019 and 2018, 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; a deferral of principal and interest; or a legal concession. During the three month period ended March 31, 2019, the terms of such loans included a reduction of the stated interest rate of loans in the range of 2.375% to 2.74% The following table presents loans by class modified as troubled debt restructurings that occurred during the three month periods ended March 31, 2019 and 2018: Pre-Modification Post-Modification Three Months Ended March 31, 2019 Number of Outstanding Recorded Outstanding Recorded (In thousands of Dollars) Loans Investment Investment Originated loans: Residential real estate 1-4 family residential 3 $ 73 $ 75 Home equity lines of credit 1 40 40 Indirect 12 105 105 Total originated loans 16 $ 218 $ 220 Acquired loans: Residential real estate 1-4 family residential 2 51 55 Total loans 18 $ 269 $ 275 Pre-Modification Post-Modification Three Months Ended March 31, 2018 Number of Outstanding Recorded Outstanding Recorded (In thousands of Dollars) Loans Investment Investment Originated loans: Commercial real estate Owner occupied 1 $ 360 $ 360 Residential real estate 1-4 family residential 3 43 43 Home equity lines of credit 2 14 14 Indirect 5 29 29 Total originated loans 11 $ 446 $ 446 Acquired loans: Residential real estate 1-4 family residential 4 108 108 Total acquired loans 4 $ 108 $ 108 Total loans 15 $ 554 $ 554 There were $6 thousand and $19 thousand in charge offs and a $6 thousand and $19 thousand increase to the provision for loan losses during the three month periods ended March 31, 2019 and 2018, respectively as a result of troubled debt restructurings. There were two residential real estate loans and one home equity line of credit 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, 2019. All of the loans were past due at March 31, 2019. There was no provision recorded as a result of the defaults during 2019. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. There were three residential real estate 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, 2019. These loans were not past due at March 31, 2019. |
Credit Quality Indicators
Credit Quality Indicators | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 and December 31, 2018, 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, 2019 Originated loans: Commercial real estate Owner occupied $ 162,064 $ 1,653 $ 730 $ 164,447 Non-owner occupied 251,581 4,085 98 255,764 Farmland 113,432 1,285 65 114,782 Other 99,207 1,417 242 100,866 Commercial Commercial and industrial 234,405 736 2,238 237,379 Agricultural 34,915 77 402 35,394 Total originated loans $ 895,604 $ 9,253 $ 3,775 $ 908,632 Acquired loans: Commercial real estate Owner occupied $ 42,666 $ 127 $ 860 $ 43,653 Non-owner occupied 15,889 57 146 16,092 Farmland 36,040 665 3,693 40,398 Other 6,470 0 652 7,122 Commercial Commercial and industrial 16,079 170 885 17,134 Agricultural 6,706 362 545 7,613 Total acquired loans $ 123,850 $ 1,381 $ 6,781 $ 132,012 Total loans $ 1,019,454 $ 10,634 $ 10,556 $ 1,040,644 (In Thousands of Dollars) Pass Special Mention Sub standard Total December 31, 2018 Originated loans: Commercial real estate Owner occupied $ 156,892 $ 945 $ 746 $ 158,583 Non-owner occupied 251,240 4,139 101 255,480 Farmland 109,391 1,301 69 110,761 Other 92,669 1,325 248 94,242 Commercial Commercial and industrial 219,938 4,207 2,456 226,601 Agricultural 37,158 81 482 37,721 Total originated loans $ 867,288 $ 11,998 $ 4,102 $ 883,388 Acquired loans: Commercial real estate Owner occupied $ 43,763 $ 430 $ 746 $ 44,939 Non-owner occupied 16,601 58 187 16,846 Farmland 36,565 668 3,749 40,982 Other 7,434 0 657 8,091 Commercial Commercial and industrial 16,407 170 1,564 18,141 Agricultural 8,612 346 567 9,525 Total acquired loans $ 129,382 $ 1,672 $ 7,470 $ 138,524 Total loans $ 996,670 $ 13,670 $ 11,572 $ 1,021,912 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, 2019, there were $208 thousand of other real estate owned properties and $1.0 million of properties in foreclosure. Other real estate owned and foreclosure properties were $0 at March 31, 2019 and $1.2 million at December 31, 2018. The following tables present the recorded investment in residential, consumer indirect and direct auto loans based on payment activity as of March 31, 2019 and December 31, 2018. 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, 2019 Originated loans: Performing $ 304,589 $ 82,178 $ 165,152 $ 29,564 $ 10,782 Nonperforming 2,293 730 567 184 8 Total originated loans $ 306,882 $ 82,908 $ 165,719 $ 29,748 $ 10,790 Acquired loans: Performing $ 74,841 $ 22,222 $ 0 $ 8,246 $ 162 Nonperforming 931 323 0 235 0 Total acquired loans 75,772 22,545 0 8,481 162 Total loans $ 382,654 $ 105,453 $ 165,719 $ 38,229 $ 10,952 Residential Real Estate Consumer (In Thousands of Dollars) 1-4 Family Residential Home Equity Lines of Credit Indirect Direct Other December 31, 2018 Originated loans: Performing $ 304,519 $ 82,035 $ 169,091 $ 30,237 $ 11,892 Nonperforming 2,503 675 715 254 2 Total originated loans $ 307,022 $ 82,710 $ 169,806 $ 30,491 $ 11,894 Acquired loans: Performing $ 77,661 $ 23,400 $ 0 $ 9,304 $ 162 Nonperforming 1,123 217 0 138 0 Total acquired loans 78,784 23,617 0 9,442 162 Total loans $ 385,806 $ 106,327 $ 169,806 $ 39,933 $ 12,056 |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 3 Months Ended |
Mar. 31, 2019 | |
Revenue From Contract With Customer [Abstract] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers All material revenue from contracts with customers in the scope of ASC 606 is recognized within noninterest income. The following table presents the Company’s noninterest income by revenue stream and reportable segment, net of eliminations, for the three months ended March 31, 2019 and 2018. (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Three Months Ended March 31, 2019 Service charges on deposit accounts $ 0 $ 1,074 $ 0 $ 1,074 Debit card and EFT fees 0 778 0 778 Trust Fees 1,858 0 0 1,858 Insurance agency commissions 0 803 0 803 Retirement plan consulting fees 0 0 358 358 Investment commission 0 260 0 260 Other 0 1,389 0 1,389 Total noninterest Income $ 1,858 $ 4,304 $ 358 $ 6,520 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Three Months Ended March 31, 2018 Service charges on deposit accounts $ 0 $ 1,003 $ 0 $ 1,003 Debit card and EFT fees 0 806 0 806 Trust Fees 1,807 0 0 1,807 Insurance agency commissions 0 699 0 699 Retirement plan consulting fees 0 0 379 379 Investment commission 0 256 0 256 Other 0 1,060 0 1,060 Total noninterest Income $ 1,807 $ 3,824 $ 379 $ 6,010 A description of the Company’s revenue streams under ASC 606 follows: Service charges on deposit accounts – The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Management reviewed the deposit account agreements, and determined that the agreements can be terminated at any time by either the Bank or the account holder. Transaction fees, such as balance transfers, wires and overdraft charges are settled the day the performance obligation is satisfied. The Bank’s monthly service charges and maintenance fees are for services provided to the customer on a monthly basis are considered a series of services that have the same pattern of transfer each month. The review of service charges assessed on deposit accounts, included the amount of variable consideration that is a part of the monthly charges. It was found that the waiver of service charges due to insufficient funds and dormant account fees is immaterial and would not require a change in the accounting treatment for these fees under the new revenue standards. Debit Card and EFT Fees – Customers and the Bank have an account agreement and maintain deposit balances with the Bank. Customers use a bank issued debit card to purchase goods and services, and the Bank earns interchange fees on those transactions, typically a percentage of the sale amount of the transaction. The Bank records the amount due when it receives the settlement from the payment network. Payments from the payment network are received and recorded into income on a daily basis. There are no contingent debit card interchange fees recorded by the Company that could be subject to a clawback in future periods. Trust fees – Services provided to Trust customers are a series of distinct services that have the same pattern of transfer each month. Fees for trust accounts are billed and drafted from trust accounts monthly. The Company records these fees on the income statement on a monthly basis. Fees are assessed based on the total investable assets of the customer’s trust account. A signed contract between the Company and the customer is maintained for all customer trust accounts with payment terms identified. It is probable that the fees will be collectible as funds being managed are accessible by the asset manager. Past history of trust fee income recorded by the Company indicates that it is highly unlikely that a significant reversal could occur. There are no contingent incentive fees recorded by the Company that could be subject to a clawback in future periods. Insurance Agency Commissions – Insurance agency commissions are received from insurance carriers for the agency’s share of commissions from customer premium payments. These commissions are recorded into income when checks are received from the insurance carriers, and there is no contingent portion associated with these commission checks. There may be a short time-lag in recording revenue when cash is received instead of recording the revenue when the policy is signed by the customer, but the time lag is insignificant and does not impact the revenue recognition process. Insurance also receives incentive checks from the insurance carriers for achieving specified levels of production with particular carriers. These amounts are recorded into income when a check is received, and there are no contingent amounts associated with these payments that may be clawed back by the carrier in the future. Similar to the monthly commissions explained in the preceding paragraph, there may be a short time-lag in recording incentive revenue on a cash basis as opposed to estimating the amount of incentive revenue expected to be earned, this does not materially impact the recognition of Insurance revenue. If there were any amounts that would need to be refunded for one specific Insurance customer, management believes the reversal would not be significant. Other potential situations surrounding the recognition of Insurance revenue include the estimating potential refunds due to the likely cancellation of a percentage of customers cancelling their policies and recording revenue at the time of policy renewals. Management concluded that since Insurance agency commissions represent only 2.6% of the Company’s total revenue, adjusting the current practice of recording insurance revenue for these situations would not have a material impact on the reporting of total revenue. Retirement Plan Consulting Fees – The fees earned from retirement plan consulting is generated by National Associates, Inc. Revenue is recognized based on the level of work performed for the client. Any payments that are received for work to be performed in the future are recorded in a deferred revenue account, and recorded into income when the fees are earned. Retirement plan consulting fees represent only 1.1% of the Company’s total revenue, and therefore management has concluded that any adjustment of revenue for one particular customer for a refund or any other reason would be insignificant and would not materially impact the Company’s total revenue. Investment Commissions – Investment commissions are earned through the sales of non-deposit investment products to customers of the Company. The sales are conducted through a third-party broker-dealer. When the commissions are received and recorded into income on the Bank’s income statement, there is no contingent portion that may need to be refunded back to Cetera. Investment commissions represent only 0.8% of the Company’s total revenue, and therefore management has concluded that any adjustment of revenue for a particular customer for a refund or any other reason would be insignificant and would not materially impact the Company’s total revenue. Other – Income items included in “Other” are Bank owned life insurance income, security gains, net gains on the sale of loans and other operating income. Any amounts within the scope of ASC 606 are deemed immaterial. |
Interest-Rate Swaps
Interest-Rate Swaps | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 and December 31, 2018 is as follows: March 31, 2019 December 31, 2018 Notional amounts (In thousands) $ 42,425 $ 35,996 Weighted average pay rate on interest-rate swaps 4.49 % 4.53 % Weighted average receive rate on interest-rate swaps 4.79 % 4.78 % Weighted average maturity (years) 4.2 4.4 Fair value of interest-rate swaps $ (1,092 ) $ (767 ) Fair value of loan yield maintenance provisions $ 1,092 $ 767 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 periods ended March 31, 2019 and 2018 there were no net gains or losses recognized in earnings. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 2018 Basic EPS Net income (In thousands) $ 8,388 $ 7,726 Weighted average shares outstanding 27,790,028 27,578,858 Basic earnings per share $ 0.30 $ 0.28 Diluted EPS Net income (In thousands) $ 8,388 $ 7,726 Weighted average shares outstanding for basic earnings per share 27,790,028 27,578,858 Average unvested restricted stock awards 193,301 339,153 Weighted average shares for diluted earnings per share 27,983,329 27,918,011 Diluted earnings per share $ 0.30 $ 0.28 There were no restricted stock awards that were considered anti-dilutive for the three month periods ended March 31, 2019 and 2018. |
Stock Based Compensation
Stock Based Compensation | 3 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock Based Compensation | Stock Based Compensation: During 2017, the Company, with the approval of shareholders, created the 2017 Equity Incentive Plan (the “2017 Plan”). The 2017 Plan permits the award of up to 800 thousand shares to the Company’s directors and employees to attract and retain exceptional personnel, motivate performance and most importantly to help align the interests of Farmers’ executives with those of the Company’s shareholders. There were 18,913 service time based shares and 67,651 performance based shares granted under the 2017 Plan during the three month period ended March 31, 2019, as shown 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. During 2012, the Company, with the approval of shareholders, created the 2012 Equity Incentive Plan (the “2012 Plan”). The 2012 Plan permitted 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 shares granted under the Plan during the three months ended March 31, 2019. Any new restricted stock awards will be issued under the 2017 Plan described above. 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 was $320 thousand The following is the activity under the Plans during the three month period ended March 31, 2019. Three Months Ended March 31, 2019 Maximum Awarded Service Units Weighted Average Grant Fair Value Maximum Awarded Performance Units Weighted Average Grant Fair Value Beginning balance - nonvested shares 87,955 $ 13.04 203,828 $ 11.96 Granted 18,913 13.61 67,651 13.50 Vested 0 0 0 0.00 Forfeited 0 0 0 0.00 Ending balance - nonvested shares 106,868 13.14 271,479 12.35 |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2019 | |
Comprehensive Income Net Of Tax [Abstract] | |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss): The following table represents the details of other comprehensive income for the three month periods ended March 31, 2019 and 2018. Three Months Ended March 31, 2019 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ 5,821 $ (1,223 ) $ 4,598 Reclassification adjustment for (gains) losses included in net income (1) 34 (7 ) 27 Net other comprehensive income $ 5,855 $ (1,230 ) $ 4,625 Three Months Ended March 31, 2018 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ (8,886 ) $ 1,866 $ (7,020 ) Reclassification adjustment for (gains) losses included in net income (1) (2 ) 0 (2 ) Net other comprehensive (loss) $ (8,888 ) $ 1,866 $ (7,022 ) (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, 2019 | |
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 was fully implemented on 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 that as of March 31, 2019, 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 phased in beginning January 1, 2016 and increased each year until it was fully implemented at 2.5% on January 1, 2019. The additional capital conservation buffer is 2.5% for the year of 2019 and was 1.875% during 2018. 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, 2019 and December 31, 2018, 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, which do not include the capital conservation buffer, are presented below at March 31, 2019 and December 31, 2018: Actual Requirement For Capital Adequacy Purposes: To be Well Capitalized Under Prompt Corrective Action Provisions: Amount Ratio Amount Ratio Amount Ratio March 31, 2019 Common equity tier 1 capital ratio Consolidated $ 229,240 12.37 % $ 83,374 4.5 % N/A N/A Bank 215,987 11.68 % 83,223 4.5 % $ 120,211 6.5 % Total risk based capital ratio Consolidated 245,287 13.24 % 148,220 8.0 % N/A N/A Bank 229,764 12.42 % 147,952 8.0 % 184,940 10.0 % Tier I risk based capital ratio Consolidated 231,510 12.50 % 111,165 6.0 % N/A N/A Bank 215,987 11.68 % 110,964 6.0 % 147,952 8.0 % Tier I leverage ratio Consolidated 231,510 10.07 % 92,004 4.0 % N/A N/A Bank 215,987 9.45 % 91,428 4.0 % 114,285 5.0 % December 31, 2018 Common equity tier 1 capital ratio Consolidated $ 222,892 12.16 % $ 82,478 4.5 % N/A N/A Bank 210,409 11.51 % 82,242 4.5 % $ 118,795 6.5 % Total risk based capital ratio Consolidated 238,742 13.03 % 146,628 8.0 % N/A N/A Bank 224,001 12.26 % 146,209 8.0 % 182,761 10.0 % Tier I risk based capital ratio Consolidated 225,150 12.28 % 109,971 6.0 % N/A N/A Bank 210,409 11.51 % 109,656 6.0 % 146,209 8.0 % Tier I leverage ratio Consolidated 225,150 9.91 % 90,900 4.0 % N/A N/A Bank 210,409 9.32 % 90,324 4.0 % 112,905 5.0 % |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2019 | |
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. ASU 2016-01 which was adopted by the Company on January 1, 2018, requires the use of exit price notion when measuring the fair value of financial instruments for disclosure purposes. Our service provider is considered a leading evaluation pricing service for U.S. domestic fixed income securities and complies fully with ASU 2016-01’s exit pricing requirements. They subscribe to multiple third-party pricing vendors, and supplement that information with matrix pricing methods. The fair values for investment securities, which consist of equity securities are recorded at fair market value to comply with ASU 2016-01, are determined by quoted market prices in active markets, if available (Level 1). The equity securities change in fair market value is recorded in the income statements. 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, 2019 and for the year ended December 31, 2018, 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, 2019 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 $ 5,847 $ 0 $ 5,847 $ 0 State and political subdivisions 214,736 0 214,736 0 Corporate bonds 1,203 0 1,203 0 Mortgage-backed securities-residential 149,608 0 149,602 6 Collateralized mortgage obligations 20,685 0 20,685 0 Small Business Administration 11,691 0 11,691 0 Equity securities Equity securities at fair value 553 553 0 0 Other equity investments measured at net asset value 6,907 n/a n/a n/a Total investment securities $ 411,230 $ 553 $ 403,764 $ 6 Loan yield maintenance provisions $ 1,092 $ 0 $ 1,092 $ 0 Financial Liabilities Interest rate swaps $ 1,092 $ 0 $ 1,092 $ 0 Fair Value Measurements at December 31, 2018 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 $ 6,009 $ 0 $ 6,009 $ 0 State and political subdivisions 211,944 0 211,944 0 Corporate bonds 1,188 0 1,188 0 Mortgage-backed securities-residential 150,047 0 150,041 6 Collateralized mortgage obligations 21,072 0 21,072 0 Small Business Administration 11,930 0 11,930 0 Equity securities Equity securities at fair value 495 495 0 0 Other equity investments measured at net asset value 6,635 n/a n/a n/a Total investment securities $ 409,320 $ 495 $ 402,184 $ 6 Loan yield maintenance provisions $ 767 $ 0 $ 767 $ 0 Financial Liabilities Interest rate swaps $ 767 $ 0 $ 767 $ 0 There were no significant transfers between Level 1 and Level 2 during the three month periods ended March 31, 2019 and 2018. 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): Investment Securities Available-for-sale (Level 3) Three Months ended March 31, (In Thousands of Dollars) 2019 2018 Beginning Balance $ 6 $ 8 Transfers from level 2 0 0 Repayments, calls and maturities 0 (1 ) Ending Balance $ 6 $ 7 Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at March 31, 2019 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 Farmland $ 251 $ 0 $ 0 $ 251 1–4 family residential 577 0 0 577 Consumer indirect 32 0 0 32 Other real estate owned 1–4 family residential 51 0 0 51 Fair Value Measurements at December 31, 2018 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 Farmland $ 251 $ 0 $ 0 $ 251 1–4 family residential 640 0 0 640 Consumer 7 0 0 7 Impaired loans that are measured for impairment using the fair value of the collateral for collateral dependent loans, had a principal balance of $1.1 million with a valuation allowance of $223 thousand at March 31, 2019, resulting in no additional provision for loan losses for the three month period. At December 31, 2018, impaired loans had a principal balance of $1.1 million, with a valuation allowance of $227 thousand. Loans measured at fair value at March 31, 2018 resulted in an additional provision for loan losses of $66 thousand for the three month period ending March 31, 2018. Excluded from the fair value of impaired loans, at March 31, 2019 and December 31, 2018, discussed above are $686 thousand and $694 thousand 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 as well as other real estate owned properties 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, 2019 and December 31, 2018: March 31, 2019 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Commercial real estate $ 251 Sales comparison Adjustment for differences between comparable sales (22.70%) - 16.16% 9.39% Residential 577 Sales comparison Adjustment for differences between comparable sales (49.90%) - 45.99% 5.56% Consumer 32 Sales comparison Adjustment for differences between comparable sales (9.63%) - 9.63% (0%) Other real estate owned 51 Sales comparison Adjustment for differences between comparable sales (39.77%) - 32.49% (7.30%) December 31, 2018 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Commercial real estate $ 251 Sales comparison Adjustment for differences between comparable sales (22.70%) - 16.16% 9.39% Residential 640 Sales comparison Adjustment for differences between comparable sales (49.90%) - 45.99% 6.52% Consumer 7 Sales comparison Adjustment for differences between comparable sales (5.71%) - 5.71% (0.00%) The carrying amounts and estimated fair values of financial instruments not previously disclosed at March 31, 2019 and December 31, 2018 are as follows: Fair Value Measurements at March 31, 2019 Using: (In Thousands of Dollars) Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 69,672 $ 20,869 $ 48,803 $ 0 $ 69,672 Restricted stock 11,729 n/a n/a n/a n/a Loans held for sale 2,360 0 2,431 0 2,431 Loans, net 1,729,874 0 0 1,687,534 1,687,534 Accrued interest receivable 7,722 0 2,352 5,370 7,722 Financial liabilities Deposits 1,954,333 1,469,330 481,741 0 1,951,071 Short-term borrowings 103,498 0 103,498 0 103,498 Long-term borrowings 5,850 0 5,763 0 5,763 Accrued interest payable 1,168 77 1,091 0 1,168 Fair Value Measurements at December 31, 2018 Using: (In Thousands of Dollars) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 57,926 $ 18,042 $ 39,884 $ 0 $ 57,926 Restricted stock 11,737 n/a n/a n/a n/a Loans held for sale 1,237 0 1,274 0 1,274 Loans, net 1,722,248 0 0 1,673,626 1,673,626 Accrued interest receivable 7,114 0 2,359 4,755 7,114 Financial liabilities Deposits 1,799,720 1,427,260 367,306 0 1,794,566 Short-term borrowings 244,759 0 244,759 0 244,759 Long-term borrowings 6,033 0 5,847 0 5,847 Accrued interest payable 990 63 927 0 990 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: Beginning January 1, 2018, the Company uses a third party firm that uses cash flow analysis and current market interest rates along with adjustments for credit, liquidity and option risk to conform to the ASU 2016-01 exit price requirement. Impaired loans are valued at the lower of cost or fair value as described previously. 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. 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, 2019 | |
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, 2019 Goodwill and other intangibles $ 4,152 $ 37,870 $ 2,425 $ (822 ) $ 43,625 Total assets $ 11,852 $ 2,336,476 $ 3,193 $ 4,553 $ 2,356,074 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals December 31, 2018 Goodwill and other intangibles $ 4,199 $ 38,113 $ 2,462 $ (822 ) $ 43,952 Total assets $ 11,490 $ 2,309,644 $ 3,060 $ 4,670 $ 2,328,864 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended March 31, 2019 Net interest income $ 38 $ 19,949 $ 0 $ (22 ) $ 19,965 Provision for loan losses 0 550 0 0 550 Service fees, security gains and other noninterest income 1,898 4,305 358 (41 ) 6,520 Noninterest expense 1,263 13,527 338 140 15,268 Amortization and depreciation expense 52 605 40 12 709 Income before taxes 621 9,572 (20 ) (215 ) 9,958 Income taxes 130 1,556 (4 ) (112 ) 1,570 Net Income $ 491 $ 8,016 $ (16 ) $ (103 ) $ 8,388 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended March 31, 2018 Net interest income $ 31 $ 18,933 $ 0 $ (18 ) $ 18,946 Provision for loan losses 0 775 0 0 775 Service fees, security gains and other noninterest income 1,838 3,854 379 (61 ) 6,010 Noninterest expense 1,277 12,552 312 206 14,347 Amortization and depreciation expense 63 624 50 12 749 Income before taxes 529 8,836 17 (297 ) 9,085 Income taxes 111 1,353 4 (109 ) 1,359 Net Income $ 418 $ 7,483 $ 13 $ (188 ) $ 7,726 The Bank segment includes Farmers National Insurance and Farmers of Canfield Investment Co. |
Leases
Leases | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Leases | Leases The Company has operating leases for branch office locations, vehicles and certain office equipment such as printers, copiers and faxes. The leases have remaining lease terms of 1 to 11.5 years, some of which include options to extend the lease for up to 10 years and some of which include options to terminate the leases within 1 year. The right of use asset and lease liability as of March 31, 2019 was $3.5 million. Lease payments made for the quarter ended March 31, 2019 were $146 thousand. Interest expense and amortization expense on finance leases were $27 thousand and $89 thousand for the quarter ended March 31, 2019, respectively. The weighted-average remaining lease term for all leases was 7.1 years as of March 31, 2019 and the weighted-average discount rate was 3.4%. Maturities of lease liabilities are as follows as of March 31, 2019: 2019 $ 438 2020 590 2021 592 2022 475 2023 418 Thereafter 1,664 Total Payments 4,177 Less: Imputed Interest (644 ) Total $ 3,533 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets: Goodwill associated with the Company’s recent purchase of Monitor in August 2017 and other past acquisitions totaled $38.2 million at March 31, 2019 and Acquired Intangible Assets Acquired intangible assets were as follows: March 31, 2019 December 31, 2018 (In Thousands of Dollars) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets: Customer relationship intangibles $ 7,210 $ (5,595 ) $ 7,210 $ (5,481 ) Non-compete contracts 430 (381 ) 430 (380 ) Trade name 520 (241 ) 520 (229 ) Core deposit intangible 6,254 (2,773 ) 6,254 (2,573 ) Total $ 14,414 $ (8,990 ) $ 14,414 $ (8,663 ) Aggregate amortization expense was $327 thousand Estimated amortization expense for each of the next five periods and thereafter: 2019 (Nine months) $ 980 2020 1,202 2021 1,142 2022 1,025 2023 514 Thereafter 561 TOTAL $ 5,424 |
Short-term Borrowings
Short-term Borrowings | 3 Months Ended |
Mar. 31, 2019 | |
Debt Disclosure [Abstract] | |
Short-term Borrowings | Short-term borrowings: There were $100 million in short-term Federal Home Loan Bank Advances at March 31, 2019 with a weighted average interest rate of 2.53%. Short-term Federal Home Loan Bank Advances were $240 million at December 31, 2018. The Company had $3.1 million and $4.4 million in securities sold under repurchase agreements for the periods ended March 31, 2019 and December 31, 2018, respectively. In addition, the Company had a $350 thousand balance on business lines of credit with one lending institution at March 31, 2019 and December 31, 2018. Securities sold under repurchase agreements are secured by the Bank’s holdings of debt securities issued by U.S. government sponsored entities and agencies. These pledged securities which are 105% of the repurchase agreement balances, had a carrying amount of $3.3 million and $4.6 million at March 31, 2019 and December 31, 2018. 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, 2019 December 31, 2018 Overnight and continuous repurchase agreements U.S. Treasury and U.S. government sponsored entities $ 178 $ 332 State and political subdivisions 881 664 Mortgage-backed securities - residential 1,832 3,094 Collateralized mortgage obligations - residential 257 319 Total repurchase agreements $ 3,148 $ 4,409 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 Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
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 consolidated financial statements also include the accounts of the Bank’s subsidiaries; Farmers National Insurance, LLC (“Insurance”) and Farmers of Canfield Investment Co. (“Investments”). The Company provides trust services through its subsidiary, Farmers Trust Company (“Trust”), retirement consulting services through National Associates, Inc. (“NAI”) and insurance services through the Bank’s subsidiary, Insurance. Farmers National Captive, Inc. (“Captive”) is a wholly-owned insurance subsidiary of the Company that provides property and casualty insurance coverage to the Company and its subsidiaries. The Captive pools resources with thirteen other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves and to provide insurance where not currently available or economically feasible in today’s insurance market place. The consolidated financial statements include the accounts of the Company, the Bank and its subsidiaries, along with the Trust, NAI and Captive. All significant intercompany balances and transactions have been eliminated in the consolidation. |
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 2018 Annual Report to Shareholders included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. 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. |
Equity | Equity: The Company, with the approval of shareholders at the April 2018 annual meeting, increased the authorized shares available for issuance from 35,000,000 to 50,000,000 shares. Outstanding shares at March 31, 2019 were 27,776,908. |
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 which are recognized as components of stockholders equity, net of tax effect. |
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 In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In June 2016, the FASB issued ASU 2016-13: Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Codification Improvements to Topic 326, Financial Instruments Credit Losses) 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). The Company adopted ASC 606 using the modified retrospective method applied to all contracts not completed as of January 1, 2018. The adoption of ASC 606 did not result in a change to the accounting for any of the in-scope revenue streams; as such, no cumulative effect adjustment was recorded. |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 and December 31, 2018 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, 2019 U.S. Treasury and U.S. government sponsored entities $ 5,911 $ 4 $ (68 ) $ 5,847 State and political subdivisions 211,197 4,080 (541 ) 214,736 Corporate bonds 1,206 4 (7 ) 1,203 Mortgage-backed securities - residential 151,555 241 (2,188 ) 149,608 Collateralized mortgage obligations - residential 21,196 162 (673 ) 20,685 Small Business Administration 11,936 0 (245 ) 11,691 Totals $ 403,001 $ 4,491 $ (3,722 ) $ 403,770 Gross Gross (In Thousands of Dollars) Amortized Unrealized Unrealized Cost Gains Losses Fair Value December 31, 2018 U.S. Treasury and U.S. government sponsored entities $ 6,111 $ 0 $ (102 ) $ 6,009 State and political subdivisions 211,762 2,075 (1,893 ) 211,944 Corporate bonds 1,206 0 (18 ) 1,188 Mortgage-backed securities - residential 154,130 84 (4,167 ) 150,047 Collateralized mortgage obligations - residential 21,775 72 (775 ) 21,072 Small Business Administration 12,292 0 (362 ) 11,930 Totals $ 407,276 $ 2,231 $ (7,317 ) $ 402,190 |
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, 2019 (In Thousands of Dollars) Amortized Cost Fair Value Maturity Within one year $ 6,076 $ 6,095 One to five years 35,119 35,397 Five to ten years 152,330 155,259 Beyond ten years 24,789 25,035 Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities 184,687 181,984 Total $ 403,001 $ 403,770 |
Available for Sale Investment Securities with Unrealized Losses | The following table summarizes the investment securities with unrealized losses at March 31, 2019 and December 31, 2018, aggregated by major security type and length of time in a continuous unrealized loss position. Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands of Dollars) Value Loss Value Loss Value Loss March 31, 2019 U.S. Treasury and U.S. government sponsored entities $ 0 $ 0 $ 5,098 $ (68 ) $ 5,098 $ (68 ) State and political subdivisions 3,039 (7 ) 38,090 (534 ) 41,129 (541 ) Corporate bonds 0 0 678 (7 ) 678 (7 ) Mortgage-backed securities - residential 22 0 129,244 (2,188 ) 129,266 (2,188 ) Collateralized mortgage obligations - residential 0 0 13,560 (673 ) 13,560 (673 ) Small Business Administration 7 0 11,684 (245 ) 11,691 (245 ) Total temporarily impaired $ 3,068 $ (7 ) $ 198,354 $ (3,715 ) $ 201,422 $ (3,722 ) Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands of Dollars) Value Loss Value Loss Value Loss December 31, 2018 U.S. Treasury and U.S. government sponsored entities $ 648 $ (2 ) $ 5,065 $ (100 ) $ 5,713 $ (102 ) State and political subdivisions 23,569 (201 ) 64,174 (1,692 ) 87,743 (1,893 ) Corporate bonds 516 (4 ) 672 (14 ) 1,188 (18 ) Mortgage-backed securities - residential 13,002 (114 ) 126,200 (4,053 ) 139,202 (4,167 ) Collateralized mortgage obligations - residential 20 (1 ) 14,003 (774 ) 14,023 (775 ) Small Business Administration 11 0 11,919 (362 ) 11,930 (362 ) Total temporarily impaired $ 37,766 $ (322 ) $ 222,033 $ (6,995 ) $ 259,799 $ (7,317 ) |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
Schedule of Loan Balances | Loan balances were as follows: (In Thousands of Dollars) March 31, 2019 December 31, 2018 Originated loans: Commercial real estate Owner occupied $ 164,818 $ 158,947 Non-owner occupied 256,377 256,124 Farmland 114,910 110,881 Other 101,149 94,527 Commercial Commercial and industrial 237,822 227,031 Agricultural 35,288 37,623 Residential real estate 1-4 family residential 307,647 307,794 Home equity lines of credit 82,888 82,690 Consumer Indirect 160,560 164,509 Direct 29,549 30,277 Other 10,789 11,894 Total originated loans $ 1,501,797 $ 1,482,297 Acquired loans: Commercial real estate Owner occupied $ 43,554 $ 44,872 Non-owner occupied 16,199 16,920 Farmland 40,399 40,983 Other 7,122 8,091 Commercial Commercial and industrial 17,135 18,141 Agricultural 7,613 9,526 Residential real estate 1-4 family residential 75,774 78,786 Home equity lines of credit 22,545 23,617 Consumer Direct 8,481 9,442 Other 162 162 Total acquired loans $ 238,984 $ 250,540 Net Deferred loan costs 2,870 3,003 Allowance for loan losses (13,777 ) (13,592 ) Net loans $ 1,729,874 $ 1,722,248 |
Purchased Credit Impaired Loans | As part of past acquisitions 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, 2019 December 31, 2018 Commercial real estate Non-owner occupied $ 275 $ 292 Commercial Commercial and industrial 856 899 Total outstanding balance $ 1,131 $ 1,191 Carrying amount, net of allowance of $0 in 2019 and 2018 $ 849 $ 903 |
Schedule of Accretable Yield or Income Expected to be Collected | Accretable yield, or income expected to be collected, is shown in the table below: Three Months Ended (In Thousands of Dollars) March 31, 2019 March 31, 2018 Beginning balance $ 93 $ 170 New loans purchased 0 0 Accretion of income (7 ) (19 ) Ending balance $ 86 $ 151 |
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, 2019 and 2018: Three Months Ended March 31, 2019 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 5,036 $ 2,093 $ 2,837 $ 2,963 $ 663 $ 13,592 Provision for loan losses 159 107 (28 ) 182 130 550 Loans charged off 0 (44 ) (21 ) (501 ) 0 (566 ) Recoveries 0 1 25 175 0 201 Total ending allowance balance $ 5,195 $ 2,157 $ 2,813 $ 2,819 $ 793 $ 13,777 Three Months Ended March 31, 2018 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 4,260 $ 2,011 $ 2,521 $ 2,848 $ 675 $ 12,315 Provision for loan losses 142 147 75 527 (116 ) 775 Loans charged off 0 (97 ) (56 ) (629 ) 0 (782 ) Recoveries 2 1 61 178 0 242 Total ending allowance balance $ 4,404 $ 2,062 $ 2,601 $ 2,924 $ 559 $ 12,550 |
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, 2019 and December 31, 2018. The recorded investment in loans includes the unpaid principal balance and unamortized loan origination fees and costs: March 31, 2019 (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 $ 6 $ 3 $ 261 $ 0 $ 0 $ 270 Collectively evaluated for impairment 5,151 2,144 2,526 2,817 793 13,431 Acquired loans collectively evaluated for impairment 38 10 26 2 0 76 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 5,195 $ 2,157 $ 2,813 $ 2,819 $ 793 $ 13,777 Loans: Loans individually evaluated for impairment $ 623 $ 213 $ 4,538 $ 150 $ 0 $ 5,524 Loans collectively evaluated for impairment 635,532 272,663 385,831 206,129 0 1,500,155 Acquired loans 106,724 24,040 97,738 8,621 0 237,123 Acquired with deteriorated credit quality 245 604 0 0 0 849 Total ending loans balance $ 743,124 $ 297,520 $ 488,107 $ 214,900 $ 0 $ 1,743,651 December 31, 2018 (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 $ 6 $ 3 $ 267 $ 0 $ 0 $ 276 Collectively evaluated for impairment 4,981 2,075 2,534 2,960 663 13,213 Acquired loans collectively evaluated for impairment 49 15 36 3 0 103 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 5,036 $ 2,093 $ 2,837 $ 2,963 $ 663 $ 13,592 Loans: Loans individually evaluated for impairment $ 790 $ 223 $ 4,627 $ 83 $ 0 $ 5,723 Loans collectively evaluated for impairment 618,729 264,208 385,702 212,130 0 1,480,769 Acquired loans 110,143 26,916 101,804 9,582 0 248,445 Acquired with deteriorated credit quality 262 641 0 0 0 903 Total ending loans balance $ 729,924 $ 291,988 $ 492,133 $ 221,795 $ 0 $ 1,735,840 |
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, 2019 and December 31, 2018: (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated March 31, 2019 With no related allowance recorded: Commercial real estate Owner occupied $ 362 $ 328 $ 0 Non-owner occupied 40 38 0 Commercial Commercial and industrial 184 154 0 Residential real estate 1-4 family residential 3,443 2,710 0 Home equity lines of credit 429 361 0 Consumer 264 127 0 Subtotal 4,722 3,718 0 With an allowance recorded: Commercial real estate Farmland 258 257 6 Commercial Commercial and industrial 59 59 3 Residential real estate 1-4 family residential 1,286 1,277 185 Home equity lines of credit 203 190 76 Consumer 22 23 0 Subtotal 1,828 1,806 270 Total $ 6,550 $ 5,524 $ 270 (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated December 31, 2018 With no related allowance recorded: Commercial real estate Owner occupied $ 524 $ 494 $ 0 Non-owner occupied 40 38 0 Commercial Commercial and industrial 191 162 0 Residential real estate 1-4 family residential 3,451 2,759 0 Home equity lines of credit 379 326 0 Consumer 174 83 0 Subtotal 4,759 3,862 0 With an allowance recorded: Commercial real estate Farmland 258 258 6 Commercial Commercial and industrial 61 61 3 Residential real estate 1-4 family residential 1,354 1,343 188 Home equity lines of credit 224 199 79 Consumer 0 0 0 Subtotal 1,897 1,861 276 Total $ 6,656 $ 5,723 $ 276 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, 2019 and 2018: Average Recorded Investment Interest Income Recognized For Three Months Ended March 31, For Three Months Ended March 31, (In Thousands of Dollars) 2019 2018 2019 2018 With no related allowance recorded: Commercial real estate Owner occupied $ 331 $ 420 $ 4 $ 7 Non-owner occupied 38 0 0 0 Commercial Commercial and industrial 157 873 2 1 Residential real estate 1-4 family residential 2,693 2,636 43 49 Home equity lines of credit 347 325 5 4 Consumer 112 63 3 3 Subtotal 3,678 4,317 57 64 With an allowance recorded: Commercial real estate Farmland 257 0 0 0 Commercial Commercial and industrial 59 67 1 1 Residential real estate 1-4 family residential 1,319 1,429 8 10 Home equity lines of credit 196 155 2 2 Consumer 8 1 0 0 Subtotal 1,839 1,652 11 13 Total $ 5,517 $ 5,969 $ 68 $ 77 |
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, 2019 and December 31, 2018: March 31, 2019 December 31, 2018 (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 $ 330 $ 0 $ 340 $ 0 Farmland 26 0 30 0 Commercial Commercial and industrial 439 0 122 0 Agricultural 158 0 158 0 Residential real estate 1-4 family residential 2,201 92 2,318 185 Home equity lines of credit 673 57 644 31 Consumer Indirect 369 198 346 369 Direct 83 101 54 200 Other 8 0 2 Total originated loans $ 4,279 $ 456 $ 4,012 $ 787 Acquired loans: Commercial real estate Non-owner occupied $ 48 $ 0 $ 82 $ 0 Farmland 257 0 257 0 Commercial Commercial and industrial 754 0 824 0 Agricultural 295 0 291 0 Residential real estate 1-4 family residential 780 151 1,001 122 Home equity lines of credit 270 53 203 14 Consumer Direct 82 153 95 43 Total acquired loans $ 2,486 $ 357 $ 2,753 $ 179 Total loans $ 6,765 $ 813 $ 6,765 $ 966 |
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, 2019 and December 31, 2018 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, 2019 Originated loans: Commercial real estate Owner occupied $ 55 $ 0 $ 330 $ 385 $ 164,062 $ 164,447 Non-owner occupied 183 22 0 205 255,559 255,764 Farmland 0 0 26 26 114,756 114,782 Other 0 0 0 0 100,866 100,866 Commercial Commercial and industrial 154 0 439 593 236,786 237,379 Agricultural 84 5 158 247 35,147 35,394 Residential real estate 1-4 family residential 3,275 11 2,293 5,579 301,303 306,882 Home equity lines of credit 0 153 730 883 82,025 82,908 Consumer Indirect 1,454 481 567 2,502 163,217 165,719 Direct 827 174 184 1,185 28,563 29,748 Other 37 8 8 53 10,737 10,790 Total originated loans: $ 6,069 $ 854 $ 4,735 $ 11,658 $ 1,493,021 $ 1,504,679 Acquired loans: Commercial real estate Owner occupied $ 43 $ 0 $ 0 $ 43 $ 43,610 $ 43,653 Non-owner occupied 0 0 48 48 16,044 16,092 Farmland 284 72 257 613 39,785 40,398 Other 0 0 0 0 7,122 7,122 Commercial Commercial and industrial 84 0 754 838 16,296 17,134 Agricultural 17 0 295 312 7,301 7,613 Residential real estate 1-4 family residential 1,031 0 931 1,962 73,810 75,772 Home equity lines of credit 146 165 323 634 21,911 22,545 Consumer Direct 300 14 235 549 7,932 8,481 Other 0 0 0 0 162 162 Total acquired loans $ 1,905 $ 251 $ 2,843 $ 4,999 $ 233,973 $ 238,972 Total loans $ 7,974 $ 1,105 $ 7,578 $ 16,657 $ 1,726,994 $ 1,743,651 (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, 2018 Originated loans: Commercial real estate Owner occupied $ 82 $ 0 $ 340 $ 422 $ 158,161 $ 158,583 Non-owner occupied 22 0 0 22 255,458 255,480 Farmland 184 0 30 214 110,547 110,761 Other 0 0 0 0 94,242 94,242 Commercial Commercial and industrial 159 0 122 281 226,320 226,601 Agricultural 69 10 158 237 37,484 37,721 Residential real estate 1-4 family residential 1,964 424 2,503 4,891 302,131 307,022 Home equity lines of credit 64 14 675 753 81,957 82,710 Consumer Indirect 1,714 755 715 3,184 166,622 169,806 Direct 714 340 254 1,308 29,183 30,491 Other 33 14 2 49 11,845 11,894 Total originated loans $ 5,005 $ 1,557 $ 4,799 $ 11,361 $ 1,473,950 $ 1,485,311 Acquired loans: Commercial real estate Owner occupied $ 321 $ 0 $ 0 $ 321 $ 44,618 $ 44,939 Non-owner occupied 0 0 82 82 16,764 16,846 Farmland 0 102 257 359 40,623 40,982 Other 0 0 0 0 8,091 8,091 Commercial Commercial and industrial 94 0 824 918 17,223 18,141 Agricultural 31 5 291 327 9,198 9,525 Residential real estate 1-4 family residential 750 229 1,123 2,102 76,682 78,784 Home equity lines of credit 208 0 217 425 23,192 23,617 Consumer Direct 318 257 138 713 8,729 9,442 Other 0 0 0 0 162 162 Total acquired loans $ 1,722 $ 593 $ 2,932 $ 5,247 $ 245,282 $ 250,529 Total loans $ 6,727 $ 2,150 $ 7,731 $ 16,608 $ 1,719,232 $ 1,735,840 |
Troubled Debt Restructurings (T
Troubled Debt Restructurings (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 and 2018: Pre-Modification Post-Modification Three Months Ended March 31, 2019 Number of Outstanding Recorded Outstanding Recorded (In thousands of Dollars) Loans Investment Investment Originated loans: Residential real estate 1-4 family residential 3 $ 73 $ 75 Home equity lines of credit 1 40 40 Indirect 12 105 105 Total originated loans 16 $ 218 $ 220 Acquired loans: Residential real estate 1-4 family residential 2 51 55 Total loans 18 $ 269 $ 275 Pre-Modification Post-Modification Three Months Ended March 31, 2018 Number of Outstanding Recorded Outstanding Recorded (In thousands of Dollars) Loans Investment Investment Originated loans: Commercial real estate Owner occupied 1 $ 360 $ 360 Residential real estate 1-4 family residential 3 43 43 Home equity lines of credit 2 14 14 Indirect 5 29 29 Total originated loans 11 $ 446 $ 446 Acquired loans: Residential real estate 1-4 family residential 4 108 108 Total acquired loans 4 $ 108 $ 108 Total loans 15 $ 554 $ 554 |
Credit Quality Indicators (Tabl
Credit Quality Indicators (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Risks And Uncertainties [Abstract] | |
Risk Category of Loans by Class of Loans | As of March 31, 2019 and December 31, 2018, 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, 2019 Originated loans: Commercial real estate Owner occupied $ 162,064 $ 1,653 $ 730 $ 164,447 Non-owner occupied 251,581 4,085 98 255,764 Farmland 113,432 1,285 65 114,782 Other 99,207 1,417 242 100,866 Commercial Commercial and industrial 234,405 736 2,238 237,379 Agricultural 34,915 77 402 35,394 Total originated loans $ 895,604 $ 9,253 $ 3,775 $ 908,632 Acquired loans: Commercial real estate Owner occupied $ 42,666 $ 127 $ 860 $ 43,653 Non-owner occupied 15,889 57 146 16,092 Farmland 36,040 665 3,693 40,398 Other 6,470 0 652 7,122 Commercial Commercial and industrial 16,079 170 885 17,134 Agricultural 6,706 362 545 7,613 Total acquired loans $ 123,850 $ 1,381 $ 6,781 $ 132,012 Total loans $ 1,019,454 $ 10,634 $ 10,556 $ 1,040,644 (In Thousands of Dollars) Pass Special Mention Sub standard Total December 31, 2018 Originated loans: Commercial real estate Owner occupied $ 156,892 $ 945 $ 746 $ 158,583 Non-owner occupied 251,240 4,139 101 255,480 Farmland 109,391 1,301 69 110,761 Other 92,669 1,325 248 94,242 Commercial Commercial and industrial 219,938 4,207 2,456 226,601 Agricultural 37,158 81 482 37,721 Total originated loans $ 867,288 $ 11,998 $ 4,102 $ 883,388 Acquired loans: Commercial real estate Owner occupied $ 43,763 $ 430 $ 746 $ 44,939 Non-owner occupied 16,601 58 187 16,846 Farmland 36,565 668 3,749 40,982 Other 7,434 0 657 8,091 Commercial Commercial and industrial 16,407 170 1,564 18,141 Agricultural 8,612 346 567 9,525 Total acquired loans $ 129,382 $ 1,672 $ 7,470 $ 138,524 Total loans $ 996,670 $ 13,670 $ 11,572 $ 1,021,912 |
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, 2019 and December 31, 2018. 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, 2019 Originated loans: Performing $ 304,589 $ 82,178 $ 165,152 $ 29,564 $ 10,782 Nonperforming 2,293 730 567 184 8 Total originated loans $ 306,882 $ 82,908 $ 165,719 $ 29,748 $ 10,790 Acquired loans: Performing $ 74,841 $ 22,222 $ 0 $ 8,246 $ 162 Nonperforming 931 323 0 235 0 Total acquired loans 75,772 22,545 0 8,481 162 Total loans $ 382,654 $ 105,453 $ 165,719 $ 38,229 $ 10,952 Residential Real Estate Consumer (In Thousands of Dollars) 1-4 Family Residential Home Equity Lines of Credit Indirect Direct Other December 31, 2018 Originated loans: Performing $ 304,519 $ 82,035 $ 169,091 $ 30,237 $ 11,892 Nonperforming 2,503 675 715 254 2 Total originated loans $ 307,022 $ 82,710 $ 169,806 $ 30,491 $ 11,894 Acquired loans: Performing $ 77,661 $ 23,400 $ 0 $ 9,304 $ 162 Nonperforming 1,123 217 0 138 0 Total acquired loans 78,784 23,617 0 9,442 162 Total loans $ 385,806 $ 106,327 $ 169,806 $ 39,933 $ 12,056 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Revenue From Contract With Customer [Abstract] | |
Summary of Noninterest Income by Revenue Stream and Reportable Segment, Net of Eliminations | All material revenue from contracts with customers in the scope of ASC 606 is recognized within noninterest income. The following table presents the Company’s noninterest income by revenue stream and reportable segment, net of eliminations, for the three months ended March 31, 2019 and 2018. (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Three Months Ended March 31, 2019 Service charges on deposit accounts $ 0 $ 1,074 $ 0 $ 1,074 Debit card and EFT fees 0 778 0 778 Trust Fees 1,858 0 0 1,858 Insurance agency commissions 0 803 0 803 Retirement plan consulting fees 0 0 358 358 Investment commission 0 260 0 260 Other 0 1,389 0 1,389 Total noninterest Income $ 1,858 $ 4,304 $ 358 $ 6,520 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Three Months Ended March 31, 2018 Service charges on deposit accounts $ 0 $ 1,003 $ 0 $ 1,003 Debit card and EFT fees 0 806 0 806 Trust Fees 1,807 0 0 1,807 Insurance agency commissions 0 699 0 699 Retirement plan consulting fees 0 0 379 379 Investment commission 0 256 0 256 Other 0 1,060 0 1,060 Total noninterest Income $ 1,807 $ 3,824 $ 379 $ 6,010 |
Interest-Rate Swaps (Tables)
Interest-Rate Swaps (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 and December 31, 2018 is as follows: March 31, 2019 December 31, 2018 Notional amounts (In thousands) $ 42,425 $ 35,996 Weighted average pay rate on interest-rate swaps 4.49 % 4.53 % Weighted average receive rate on interest-rate swaps 4.79 % 4.78 % Weighted average maturity (years) 4.2 4.4 Fair value of interest-rate swaps $ (1,092 ) $ (767 ) Fair value of loan yield maintenance provisions $ 1,092 $ 767 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 2018 Basic EPS Net income (In thousands) $ 8,388 $ 7,726 Weighted average shares outstanding 27,790,028 27,578,858 Basic earnings per share $ 0.30 $ 0.28 Diluted EPS Net income (In thousands) $ 8,388 $ 7,726 Weighted average shares outstanding for basic earnings per share 27,790,028 27,578,858 Average unvested restricted stock awards 193,301 339,153 Weighted average shares for diluted earnings per share 27,983,329 27,918,011 Diluted earnings per share $ 0.30 $ 0.28 |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Award Activity under Plans | The following is the activity under the Plans during the three month period ended March 31, 2019. Three Months Ended March 31, 2019 Maximum Awarded Service Units Weighted Average Grant Fair Value Maximum Awarded Performance Units Weighted Average Grant Fair Value Beginning balance - nonvested shares 87,955 $ 13.04 203,828 $ 11.96 Granted 18,913 13.61 67,651 13.50 Vested 0 0 0 0.00 Forfeited 0 0 0 0.00 Ending balance - nonvested shares 106,868 13.14 271,479 12.35 |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Comprehensive Income Net Of Tax [Abstract] | |
Schedule of Other Comprehensive Income (Loss) | The following table represents the details of other comprehensive income for the three month periods ended March 31, 2019 and 2018. Three Months Ended March 31, 2019 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ 5,821 $ (1,223 ) $ 4,598 Reclassification adjustment for (gains) losses included in net income (1) 34 (7 ) 27 Net other comprehensive income $ 5,855 $ (1,230 ) $ 4,625 Three Months Ended March 31, 2018 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ (8,886 ) $ 1,866 $ (7,020 ) Reclassification adjustment for (gains) losses included in net income (1) (2 ) 0 (2 ) Net other comprehensive (loss) $ (8,888 ) $ 1,866 $ (7,022 ) (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, 2019 | |
Regulatory Capital Requirements [Abstract] | |
Schedule of Actual and Required Capital Amounts and Ratios, Not Include Capital Conservation Buffer | Actual and required capital amounts and ratios, which do not include the capital conservation buffer, are presented below at March 31, 2019 and December 31, 2018: Actual Requirement For Capital Adequacy Purposes: To be Well Capitalized Under Prompt Corrective Action Provisions: Amount Ratio Amount Ratio Amount Ratio March 31, 2019 Common equity tier 1 capital ratio Consolidated $ 229,240 12.37 % $ 83,374 4.5 % N/A N/A Bank 215,987 11.68 % 83,223 4.5 % $ 120,211 6.5 % Total risk based capital ratio Consolidated 245,287 13.24 % 148,220 8.0 % N/A N/A Bank 229,764 12.42 % 147,952 8.0 % 184,940 10.0 % Tier I risk based capital ratio Consolidated 231,510 12.50 % 111,165 6.0 % N/A N/A Bank 215,987 11.68 % 110,964 6.0 % 147,952 8.0 % Tier I leverage ratio Consolidated 231,510 10.07 % 92,004 4.0 % N/A N/A Bank 215,987 9.45 % 91,428 4.0 % 114,285 5.0 % December 31, 2018 Common equity tier 1 capital ratio Consolidated $ 222,892 12.16 % $ 82,478 4.5 % N/A N/A Bank 210,409 11.51 % 82,242 4.5 % $ 118,795 6.5 % Total risk based capital ratio Consolidated 238,742 13.03 % 146,628 8.0 % N/A N/A Bank 224,001 12.26 % 146,209 8.0 % 182,761 10.0 % Tier I risk based capital ratio Consolidated 225,150 12.28 % 109,971 6.0 % N/A N/A Bank 210,409 11.51 % 109,656 6.0 % 146,209 8.0 % Tier I leverage ratio Consolidated 225,150 9.91 % 90,900 4.0 % N/A N/A Bank 210,409 9.32 % 90,324 4.0 % 112,905 5.0 % |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 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 $ 5,847 $ 0 $ 5,847 $ 0 State and political subdivisions 214,736 0 214,736 0 Corporate bonds 1,203 0 1,203 0 Mortgage-backed securities-residential 149,608 0 149,602 6 Collateralized mortgage obligations 20,685 0 20,685 0 Small Business Administration 11,691 0 11,691 0 Equity securities Equity securities at fair value 553 553 0 0 Other equity investments measured at net asset value 6,907 n/a n/a n/a Total investment securities $ 411,230 $ 553 $ 403,764 $ 6 Loan yield maintenance provisions $ 1,092 $ 0 $ 1,092 $ 0 Financial Liabilities Interest rate swaps $ 1,092 $ 0 $ 1,092 $ 0 Fair Value Measurements at December 31, 2018 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 $ 6,009 $ 0 $ 6,009 $ 0 State and political subdivisions 211,944 0 211,944 0 Corporate bonds 1,188 0 1,188 0 Mortgage-backed securities-residential 150,047 0 150,041 6 Collateralized mortgage obligations 21,072 0 21,072 0 Small Business Administration 11,930 0 11,930 0 Equity securities Equity securities at fair value 495 495 0 0 Other equity investments measured at net asset value 6,635 n/a n/a n/a Total investment securities $ 409,320 $ 495 $ 402,184 $ 6 Loan yield maintenance provisions $ 767 $ 0 $ 767 $ 0 Financial Liabilities Interest rate swaps $ 767 $ 0 $ 767 $ 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): Investment Securities Available-for-sale (Level 3) Three Months ended March 31, (In Thousands of Dollars) 2019 2018 Beginning Balance $ 6 $ 8 Transfers from level 2 0 0 Repayments, calls and maturities 0 (1 ) Ending Balance $ 6 $ 7 |
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, 2019 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 Farmland $ 251 $ 0 $ 0 $ 251 1–4 family residential 577 0 0 577 Consumer indirect 32 0 0 32 Other real estate owned 1–4 family residential 51 0 0 51 Fair Value Measurements at December 31, 2018 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 Farmland $ 251 $ 0 $ 0 $ 251 1–4 family residential 640 0 0 640 Consumer 7 0 0 7 |
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, 2019 and December 31, 2018: March 31, 2019 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Commercial real estate $ 251 Sales comparison Adjustment for differences between comparable sales (22.70%) - 16.16% 9.39% Residential 577 Sales comparison Adjustment for differences between comparable sales (49.90%) - 45.99% 5.56% Consumer 32 Sales comparison Adjustment for differences between comparable sales (9.63%) - 9.63% (0%) Other real estate owned 51 Sales comparison Adjustment for differences between comparable sales (39.77%) - 32.49% (7.30%) December 31, 2018 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Commercial real estate $ 251 Sales comparison Adjustment for differences between comparable sales (22.70%) - 16.16% 9.39% Residential 640 Sales comparison Adjustment for differences between comparable sales (49.90%) - 45.99% 6.52% Consumer 7 Sales comparison Adjustment for differences between comparable sales (5.71%) - 5.71% (0.00%) |
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, 2019 and December 31, 2018 are as follows: Fair Value Measurements at March 31, 2019 Using: (In Thousands of Dollars) Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 69,672 $ 20,869 $ 48,803 $ 0 $ 69,672 Restricted stock 11,729 n/a n/a n/a n/a Loans held for sale 2,360 0 2,431 0 2,431 Loans, net 1,729,874 0 0 1,687,534 1,687,534 Accrued interest receivable 7,722 0 2,352 5,370 7,722 Financial liabilities Deposits 1,954,333 1,469,330 481,741 0 1,951,071 Short-term borrowings 103,498 0 103,498 0 103,498 Long-term borrowings 5,850 0 5,763 0 5,763 Accrued interest payable 1,168 77 1,091 0 1,168 Fair Value Measurements at December 31, 2018 Using: (In Thousands of Dollars) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 57,926 $ 18,042 $ 39,884 $ 0 $ 57,926 Restricted stock 11,737 n/a n/a n/a n/a Loans held for sale 1,237 0 1,274 0 1,274 Loans, net 1,722,248 0 0 1,673,626 1,673,626 Accrued interest receivable 7,114 0 2,359 4,755 7,114 Financial liabilities Deposits 1,799,720 1,427,260 367,306 0 1,794,566 Short-term borrowings 244,759 0 244,759 0 244,759 Long-term borrowings 6,033 0 5,847 0 5,847 Accrued interest payable 990 63 927 0 990 |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 Goodwill and other intangibles $ 4,152 $ 37,870 $ 2,425 $ (822 ) $ 43,625 Total assets $ 11,852 $ 2,336,476 $ 3,193 $ 4,553 $ 2,356,074 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals December 31, 2018 Goodwill and other intangibles $ 4,199 $ 38,113 $ 2,462 $ (822 ) $ 43,952 Total assets $ 11,490 $ 2,309,644 $ 3,060 $ 4,670 $ 2,328,864 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended March 31, 2019 Net interest income $ 38 $ 19,949 $ 0 $ (22 ) $ 19,965 Provision for loan losses 0 550 0 0 550 Service fees, security gains and other noninterest income 1,898 4,305 358 (41 ) 6,520 Noninterest expense 1,263 13,527 338 140 15,268 Amortization and depreciation expense 52 605 40 12 709 Income before taxes 621 9,572 (20 ) (215 ) 9,958 Income taxes 130 1,556 (4 ) (112 ) 1,570 Net Income $ 491 $ 8,016 $ (16 ) $ (103 ) $ 8,388 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended March 31, 2018 Net interest income $ 31 $ 18,933 $ 0 $ (18 ) $ 18,946 Provision for loan losses 0 775 0 0 775 Service fees, security gains and other noninterest income 1,838 3,854 379 (61 ) 6,010 Noninterest expense 1,277 12,552 312 206 14,347 Amortization and depreciation expense 63 624 50 12 749 Income before taxes 529 8,836 17 (297 ) 9,085 Income taxes 111 1,353 4 (109 ) 1,359 Net Income $ 418 $ 7,483 $ 13 $ (188 ) $ 7,726 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Maturities of Lease Liabilities | Maturities of lease liabilities are as follows as of March 31, 2019: 2019 $ 438 2020 590 2021 592 2022 475 2023 418 Thereafter 1,664 Total Payments 4,177 Less: Imputed Interest (644 ) Total $ 3,533 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Acquired Intangible Assets | Acquired intangible assets were as follows: March 31, 2019 December 31, 2018 (In Thousands of Dollars) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets: Customer relationship intangibles $ 7,210 $ (5,595 ) $ 7,210 $ (5,481 ) Non-compete contracts 430 (381 ) 430 (380 ) Trade name 520 (241 ) 520 (229 ) Core deposit intangible 6,254 (2,773 ) 6,254 (2,573 ) Total $ 14,414 $ (8,990 ) $ 14,414 $ (8,663 ) |
Estimated Amortization Expense | Estimated amortization expense for each of the next five periods and thereafter: 2019 (Nine months) $ 980 2020 1,202 2021 1,142 2022 1,025 2023 514 Thereafter 561 TOTAL $ 5,424 |
Short-term Borrowings (Tables)
Short-term Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 December 31, 2018 Overnight and continuous repurchase agreements U.S. Treasury and U.S. government sponsored entities $ 178 $ 332 State and political subdivisions 881 664 Mortgage-backed securities - residential 1,832 3,094 Collateralized mortgage obligations - residential 257 319 Total repurchase agreements $ 3,148 $ 4,409 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | |||||
Mar. 31, 2019Segmentshares | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($)shares | Apr. 30, 2018shares | Jan. 01, 2018USD ($) | Dec. 31, 2017USD ($)shares | |
Summary of Significant Accounting Policies (Additional Textual) [Abstract] | ||||||
Operating segments of business | Segment | 3 | |||||
Common stock, authorized shares available for issuance | shares | 50,000,000 | 50,000,000 | 50,000,000 | 35,000,000 | ||
Common stock, shares outstanding | shares | 27,776,908 | |||||
Retained Earnings | ||||||
Summary of Significant Accounting Policies (Additional Textual) [Abstract] | ||||||
Cumulative effect adjustment upon adoption of new accounting principle | $ 0 | $ 169 | ||||
Accumulated Other Comprehensive Income | ||||||
Summary of Significant Accounting Policies (Additional Textual) [Abstract] | ||||||
Cumulative effect adjustment upon adoption of new accounting principle | $ 0 | $ (169) | ||||
ASU 2016-02 | ||||||
Summary of Significant Accounting Policies (Additional Textual) [Abstract] | ||||||
Capitalization of leases as an asset | $ 3,600 | |||||
ASU 2016-01 | Retained Earnings | ||||||
Summary of Significant Accounting Policies (Additional Textual) [Abstract] | ||||||
Cumulative effect adjustment upon adoption of new accounting principle | $ 169 | |||||
ASU 2016-01 | Accumulated Other Comprehensive Income | ||||||
Summary of Significant Accounting Policies (Additional Textual) [Abstract] | ||||||
Cumulative effect adjustment upon adoption of new accounting principle | $ 169 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 |
Schedule Of Available For Sale Securities [Line Items] | |||
Amortized Cost | $ 403,001 | $ 407,276 | $ 403,001 |
Gross Unrealized Gains | 4,491 | 2,231 | |
Gross Unrealized Losses | (3,722) | (7,317) | |
Fair Value | 403,770 | 402,190 | |
Corporate bonds | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Amortized Cost | 1,206 | 1,206 | |
Gross Unrealized Gains | 4 | 0 | |
Gross Unrealized Losses | (7) | (18) | |
Fair Value | 1,203 | 1,188 | |
Small Business Administration | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Amortized Cost | 11,936 | 12,292 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | (245) | (362) | |
Fair Value | 11,691 | 11,930 | |
U.S. Treasury and U.S. government sponsored entities | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Amortized Cost | 5,911 | 6,111 | |
Gross Unrealized Gains | 4 | 0 | |
Gross Unrealized Losses | (68) | (102) | |
Fair Value | 5,847 | 6,009 | |
State and political subdivisions | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Amortized Cost | 211,197 | 211,762 | |
Gross Unrealized Gains | 4,080 | 2,075 | |
Gross Unrealized Losses | (541) | (1,893) | |
Fair Value | 214,736 | 211,944 | |
Mortgage-backed securities - residential | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Amortized Cost | 151,555 | 154,130 | |
Gross Unrealized Gains | 241 | 84 | |
Gross Unrealized Losses | (2,188) | (4,167) | |
Fair Value | 149,608 | 150,047 | |
Collateralized mortgage obligations - residential | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Amortized Cost | 21,196 | 21,775 | |
Gross Unrealized Gains | 162 | 72 | |
Gross Unrealized Losses | (673) | (775) | |
Fair Value | $ 20,685 | $ 21,072 |
Securities (Details Textual)
Securities (Details Textual) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019USD ($)Securities | Mar. 31, 2018USD ($) | |
Schedule Of Available For Sale Securities [Line Items] | ||
Proceeds from the sale | $ 9,800 | $ 262 |
Gross gains realized | 22 | 4 |
Gross Losses realized | $ 56 | 2 |
Number of securities | Securities | 576 | |
Number of securities on unrealized loss position | Securities | 196 | |
ASU 2016-01 | Equity securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Unrealized gains recognized in income statement for securities | $ 44 | $ 16 |
Securities (Details 1)
Securities (Details 1) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 |
Amortized cost and fair value of the debt securities maturity | |||
Amortized Cost, Within one year | $ 6,076 | ||
Amortized Cost, One to five years | 35,119 | ||
Amortized Cost, Five to ten years | 152,330 | ||
Amortized Cost, Beyond ten years | 24,789 | ||
Amortized Cost, Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities | 184,687 | ||
Amortized Cost | $ 403,001 | $ 407,276 | $ 403,001 |
Fair Value, Within one year | 6,095 | ||
Fair Value, One to five years | 35,397 | ||
Fair Value, Five to ten years | 155,259 | ||
Fair Value, Beyond ten years | 25,035 | ||
Fair Value, Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities | 181,984 | ||
Fair Value, Total | $ 403,770 | $ 402,190 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | $ 3,068 | $ 37,766 |
Unrealized Losses, Less Than 12 Months | (7) | (322) |
Fair Value, 12 Months or Longer | 198,354 | 222,033 |
Unrealized Losses, 12 Months or Longer | (3,715) | (6,995) |
Fair Value, Total | 201,422 | 259,799 |
Unrealized Losses, Total | (3,722) | (7,317) |
Corporate bonds | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 0 | 516 |
Unrealized Losses, Less Than 12 Months | 0 | (4) |
Fair Value, 12 Months or Longer | 678 | 672 |
Unrealized Losses, 12 Months or Longer | (7) | (14) |
Fair Value, Total | 678 | 1,188 |
Unrealized Losses, Total | (7) | (18) |
Small Business Administration | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 7 | 11 |
Unrealized Losses, Less Than 12 Months | 0 | 0 |
Fair Value, 12 Months or Longer | 11,684 | 11,919 |
Unrealized Losses, 12 Months or Longer | (245) | (362) |
Fair Value, Total | 11,691 | 11,930 |
Unrealized Losses, Total | (245) | (362) |
U.S. Treasury and U.S. government sponsored entities | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 0 | 648 |
Unrealized Losses, Less Than 12 Months | 0 | (2) |
Fair Value, 12 Months or Longer | 5,098 | 5,065 |
Unrealized Losses, 12 Months or Longer | (68) | (100) |
Fair Value, Total | 5,098 | 5,713 |
Unrealized Losses, Total | (68) | (102) |
State and political subdivisions | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 3,039 | 23,569 |
Unrealized Losses, Less Than 12 Months | (7) | (201) |
Fair Value, 12 Months or Longer | 38,090 | 64,174 |
Unrealized Losses, 12 Months or Longer | (534) | (1,692) |
Fair Value, Total | 41,129 | 87,743 |
Unrealized Losses, Total | (541) | (1,893) |
Mortgage-backed securities - residential | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 22 | 13,002 |
Unrealized Losses, Less Than 12 Months | 0 | (114) |
Fair Value, 12 Months or Longer | 129,244 | 126,200 |
Unrealized Losses, 12 Months or Longer | (2,188) | (4,053) |
Fair Value, Total | 129,266 | 139,202 |
Unrealized Losses, Total | (2,188) | (4,167) |
Collateralized mortgage obligations - residential | ||
Investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 0 | 20 |
Unrealized Losses, Less Than 12 Months | 0 | (1) |
Fair Value, 12 Months or Longer | 13,560 | 14,003 |
Unrealized Losses, 12 Months or Longer | (673) | (774) |
Fair Value, Total | 13,560 | 14,023 |
Unrealized Losses, Total | $ (673) | $ (775) |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of loan balances | ||||
Total loans | $ 1,729,874 | $ 1,722,248 | ||
Allowance for loan losses | (13,777) | (13,592) | $ (12,550) | $ (12,315) |
Commercial real estate | ||||
Schedule of loan balances | ||||
Allowance for loan losses | (5,195) | (5,036) | (4,404) | (4,260) |
Commercial | ||||
Schedule of loan balances | ||||
Allowance for loan losses | (2,157) | (2,093) | (2,062) | (2,011) |
Residential real estate | ||||
Schedule of loan balances | ||||
Allowance for loan losses | (2,813) | (2,837) | (2,601) | (2,521) |
Consumer | ||||
Schedule of loan balances | ||||
Allowance for loan losses | (2,819) | (2,963) | $ (2,924) | $ (2,848) |
Originated Loans | ||||
Schedule of loan balances | ||||
Total loans | 1,501,797 | 1,482,297 | ||
Originated Loans | Commercial real estate, Owner occupied | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 164,818 | 158,947 | ||
Originated Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 256,377 | 256,124 | ||
Originated Loans | Commercial real estate, Farmland | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 114,910 | 110,881 | ||
Originated Loans | Commercial real estate, Other | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 101,149 | 94,527 | ||
Originated Loans | Commercial, Commercial and industrial | Commercial | ||||
Schedule of loan balances | ||||
Loan balances | 237,822 | 227,031 | ||
Originated Loans | Residential real estate, 1-4 family residential | Residential real estate | ||||
Schedule of loan balances | ||||
Loan balances | 307,647 | 307,794 | ||
Originated Loans | Commercial, Agricultural | Commercial | ||||
Schedule of loan balances | ||||
Loan balances | 35,288 | 37,623 | ||
Originated Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||||
Schedule of loan balances | ||||
Loan balances | 82,888 | 82,690 | ||
Originated Loans | Consumer, Indirect | Consumer | ||||
Schedule of loan balances | ||||
Loan balances | 160,560 | 164,509 | ||
Originated Loans | Consumer, Direct | Consumer | ||||
Schedule of loan balances | ||||
Loan balances | 29,549 | 30,277 | ||
Originated Loans | Consumer, Other | Consumer | ||||
Schedule of loan balances | ||||
Loan balances | 10,789 | 11,894 | ||
Acquired Loans | ||||
Schedule of loan balances | ||||
Total loans | 238,984 | 250,540 | ||
Net Deferred loan costs | 2,870 | 3,003 | ||
Allowance for loan losses | (13,777) | (13,592) | ||
Acquired Loans | Commercial real estate, Owner occupied | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 43,554 | 44,872 | ||
Acquired Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 16,199 | 16,920 | ||
Acquired Loans | Commercial real estate, Farmland | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 40,399 | 40,983 | ||
Acquired Loans | Commercial real estate, Other | Commercial real estate | ||||
Schedule of loan balances | ||||
Loan balances | 7,122 | 8,091 | ||
Acquired Loans | Commercial, Commercial and industrial | Commercial | ||||
Schedule of loan balances | ||||
Loan balances | 17,135 | 18,141 | ||
Acquired Loans | Residential real estate, 1-4 family residential | Residential real estate | ||||
Schedule of loan balances | ||||
Loan balances | 75,774 | 78,786 | ||
Acquired Loans | Commercial, Agricultural | Commercial | ||||
Schedule of loan balances | ||||
Loan balances | 7,613 | 9,526 | ||
Acquired Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||||
Schedule of loan balances | ||||
Loan balances | 22,545 | 23,617 | ||
Acquired Loans | Consumer, Direct | Consumer | ||||
Schedule of loan balances | ||||
Loan balances | 8,481 | 9,442 | ||
Acquired Loans | Consumer, Other | Consumer | ||||
Schedule of loan balances | ||||
Loan balances | $ 162 | $ 162 |
Loans (Details 1)
Loans (Details 1) - National Bancshares Corporation - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable Impaired [Line Items] | ||
Total outstanding balance | $ 1,131 | $ 1,191 |
Carrying amount, net of allowance | 849 | 903 |
Commercial real estate, Non-owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Loans acquired with deteriorated credit quality | 275 | 292 |
Commercial, Commercial and industrial | Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Loans acquired with deteriorated credit quality | $ 856 | $ 899 |
Loans (Details 1) (Parenthetica
Loans (Details 1) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
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) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Receivables [Abstract] | ||
Beginning balance | $ 93 | $ 170 |
New loans purchased | 0 | 0 |
Accretion of income | (7) | (19) |
Ending balance | $ 86 | $ 151 |
Loans (Details 3)
Loans (Details 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Allowance for loan losses | ||
Beginning balance | $ 13,592 | $ 12,315 |
Provision for loan losses | 550 | 775 |
Loans charged off | (566) | (782) |
Recoveries | 201 | 242 |
Ending balance | 13,777 | 12,550 |
Commercial real estate | ||
Allowance for loan losses | ||
Beginning balance | 5,036 | 4,260 |
Provision for loan losses | 159 | 142 |
Loans charged off | 0 | 0 |
Recoveries | 0 | 2 |
Ending balance | 5,195 | 4,404 |
Commercial | ||
Allowance for loan losses | ||
Beginning balance | 2,093 | 2,011 |
Provision for loan losses | 107 | 147 |
Loans charged off | (44) | (97) |
Recoveries | 1 | 1 |
Ending balance | 2,157 | 2,062 |
Residential real estate | ||
Allowance for loan losses | ||
Beginning balance | 2,837 | 2,521 |
Provision for loan losses | (28) | 75 |
Loans charged off | (21) | (56) |
Recoveries | 25 | 61 |
Ending balance | 2,813 | 2,601 |
Consumer | ||
Allowance for loan losses | ||
Beginning balance | 2,963 | 2,848 |
Provision for loan losses | 182 | 527 |
Loans charged off | (501) | (629) |
Recoveries | 175 | 178 |
Ending balance | 2,819 | 2,924 |
Unallocated | ||
Allowance for loan losses | ||
Beginning balance | 663 | 675 |
Provision for loan losses | 130 | (116) |
Loans charged off | 0 | 0 |
Recoveries | 0 | 0 |
Ending balance | $ 793 | $ 559 |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | $ 270 | $ 276 | ||
Collectively evaluated for impairment | 13,431 | 13,213 | ||
Acquired loans collectively evaluated for impairment | 76 | 103 | ||
Total ending allowance balance | 13,777 | 13,592 | $ 12,550 | $ 12,315 |
Loans: | ||||
Loans individually evaluated for impairment | 5,524 | 5,723 | ||
Loans collectively evaluated for impairment | 1,500,155 | 1,480,769 | ||
Acquired loans | 237,123 | 248,445 | ||
Acquired with deteriorated credit quality | 1,040,644 | 1,021,912 | ||
Loans | 1,743,651 | 1,735,840 | ||
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 | 849 | 903 | ||
Commercial real estate | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 6 | 6 | ||
Collectively evaluated for impairment | 5,151 | 4,981 | ||
Acquired loans collectively evaluated for impairment | 38 | 49 | ||
Total ending allowance balance | 5,195 | 5,036 | 4,404 | 4,260 |
Loans: | ||||
Loans individually evaluated for impairment | 623 | 790 | ||
Loans collectively evaluated for impairment | 635,532 | 618,729 | ||
Acquired loans | 106,724 | 110,143 | ||
Loans | 743,124 | 729,924 | ||
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 | 245 | 262 | ||
Commercial | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 3 | 3 | ||
Collectively evaluated for impairment | 2,144 | 2,075 | ||
Acquired loans collectively evaluated for impairment | 10 | 15 | ||
Total ending allowance balance | 2,157 | 2,093 | 2,062 | 2,011 |
Loans: | ||||
Loans individually evaluated for impairment | 213 | 223 | ||
Loans collectively evaluated for impairment | 272,663 | 264,208 | ||
Acquired loans | 24,040 | 26,916 | ||
Loans | 297,520 | 291,988 | ||
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 | 604 | 641 | ||
Residential real estate | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 261 | 267 | ||
Collectively evaluated for impairment | 2,526 | 2,534 | ||
Acquired loans collectively evaluated for impairment | 26 | 36 | ||
Total ending allowance balance | 2,813 | 2,837 | 2,601 | 2,521 |
Loans: | ||||
Loans individually evaluated for impairment | 4,538 | 4,627 | ||
Loans collectively evaluated for impairment | 385,831 | 385,702 | ||
Acquired loans | 97,738 | 101,804 | ||
Loans | 488,107 | 492,133 | ||
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 | 2,817 | 2,960 | ||
Acquired loans collectively evaluated for impairment | 2 | 3 | ||
Total ending allowance balance | 2,819 | 2,963 | 2,924 | 2,848 |
Loans: | ||||
Loans individually evaluated for impairment | 150 | 83 | ||
Loans collectively evaluated for impairment | 206,129 | 212,130 | ||
Acquired loans | 8,621 | 9,582 | ||
Loans | 214,900 | 221,795 | ||
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 | 793 | 663 | ||
Acquired loans collectively evaluated for impairment | 0 | 0 | ||
Total ending allowance balance | 793 | 663 | $ 559 | $ 675 |
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, 2019 | Dec. 31, 2018 |
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | $ 4,722 | $ 4,759 |
Unpaid Principal Balance, With an allowance recorded | 1,828 | 1,897 |
Unpaid Principal Balance | 6,550 | 6,656 |
Recorded Investment, With no related allowance recorded | 3,718 | 3,862 |
Recorded Investment, With an allowance recorded | 1,806 | 1,861 |
Recorded Investment | 5,524 | 5,723 |
Allowance for Loan Losses Allocated | 270 | 276 |
Consumer | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 264 | 174 |
Unpaid Principal Balance, With an allowance recorded | 22 | 0 |
Recorded Investment, With no related allowance recorded | 127 | 83 |
Recorded Investment, With an allowance recorded | 23 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Commercial real estate, Owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 362 | 524 |
Recorded Investment, With no related allowance recorded | 328 | 494 |
Commercial real estate, Non-owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 40 | 40 |
Recorded Investment, With no related allowance recorded | 38 | 38 |
Commercial, Commercial and industrial | Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 184 | 191 |
Unpaid Principal Balance, With an allowance recorded | 59 | 61 |
Recorded Investment, With no related allowance recorded | 154 | 162 |
Recorded Investment, With an allowance recorded | 59 | 61 |
Allowance for Loan Losses Allocated | 3 | 3 |
Residential real estate, 1-4 family residential | Residential real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 3,443 | 3,451 |
Unpaid Principal Balance, With an allowance recorded | 1,286 | 1,354 |
Recorded Investment, With no related allowance recorded | 2,710 | 2,759 |
Recorded Investment, With an allowance recorded | 1,277 | 1,343 |
Allowance for Loan Losses Allocated | 185 | 188 |
Residential real estate, Home equity lines of credit | Residential real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 429 | 379 |
Unpaid Principal Balance, With an allowance recorded | 203 | 224 |
Recorded Investment, With no related allowance recorded | 361 | 326 |
Recorded Investment, With an allowance recorded | 190 | 199 |
Allowance for Loan Losses Allocated | 76 | 79 |
Commercial real estate, Farmland | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With an allowance recorded | 258 | 258 |
Recorded Investment, With an allowance recorded | 257 | 258 |
Allowance for Loan Losses Allocated | $ 6 | $ 6 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | $ 3,678 | $ 4,317 |
Average Recorded Investment, With an allowance recorded | 1,839 | 1,652 |
Average Recorded Investment | 5,517 | 5,969 |
Interest Income Recognized, With no related allowance recorded | 57 | 64 |
Interest Income Recognized, With related allowance recorded | 11 | 13 |
Interest Income Recognized | 68 | 77 |
Consumer | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 112 | 63 |
Average Recorded Investment, With an allowance recorded | 8 | 1 |
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 | 331 | 420 |
Interest Income Recognized, With no related allowance recorded | 4 | 7 |
Commercial real estate, Non-owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 38 | 0 |
Interest Income Recognized, With no related allowance recorded | 0 | 0 |
Commercial real estate, Farmland | Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With an allowance recorded | 257 | 0 |
Interest Income Recognized, With related allowance recorded | 0 | 0 |
Commercial, Commercial and industrial | Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 157 | 873 |
Average Recorded Investment, With an allowance recorded | 59 | 67 |
Interest Income Recognized, With no related allowance recorded | 2 | 1 |
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 | 2,693 | 2,636 |
Average Recorded Investment, With an allowance recorded | 1,319 | 1,429 |
Interest Income Recognized, With no related allowance recorded | 43 | 49 |
Interest Income Recognized, With related allowance recorded | 8 | 10 |
Residential real estate, Home equity lines of credit | Residential real estate | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 347 | 325 |
Average Recorded Investment, With an allowance recorded | 196 | 155 |
Interest Income Recognized, With no related allowance recorded | 5 | 4 |
Interest Income Recognized, With related allowance recorded | $ 2 | $ 2 |
Loans (Details 7)
Loans (Details 7) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | $ 6,765 | $ 6,765 |
Loans Past Due 90 Days or More Still Accruing | 813 | 966 |
Originated Loans | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 4,279 | 4,012 |
Loans Past Due 90 Days or More Still Accruing | 456 | 787 |
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 | 330 | 340 |
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 | 26 | 30 |
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 | 439 | 122 |
Loans Past Due 90 Days or More Still Accruing | 0 | 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 | 2,201 | 2,318 |
Loans Past Due 90 Days or More Still Accruing | 92 | 185 |
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 | 158 | 158 |
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 | 673 | 644 |
Loans Past Due 90 Days or More Still Accruing | 57 | 31 |
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 | 369 | 346 |
Loans Past Due 90 Days or More Still Accruing | 198 | 369 |
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 | 83 | 54 |
Loans Past Due 90 Days or More Still Accruing | 101 | 200 |
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 | |
Loans Past Due 90 Days or More Still Accruing | 8 | 2 |
Acquired Loans | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 2,486 | 2,753 |
Loans Past Due 90 Days or More Still Accruing | 357 | 179 |
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 | 257 | 257 |
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 | 754 | 824 |
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 | 780 | 1,001 |
Loans Past Due 90 Days or More Still Accruing | 151 | 122 |
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 | 295 | 291 |
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 | 270 | 203 |
Loans Past Due 90 Days or More Still Accruing | 53 | 14 |
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 | 82 | 95 |
Loans Past Due 90 Days or More Still Accruing | 153 | 43 |
Acquired 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 | 48 | 82 |
Loans Past Due 90 Days or More Still Accruing | $ 0 | $ 0 |
Loans (Details 8)
Loans (Details 8) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of investment in past due loans | ||
Total Past Due | $ 16,657 | $ 16,608 |
Loans Not Past Due | 1,726,994 | 1,719,232 |
Loans | 1,743,651 | 1,735,840 |
Commercial real estate | ||
Schedule of investment in past due loans | ||
Loans | 743,124 | 729,924 |
Commercial | ||
Schedule of investment in past due loans | ||
Loans | 297,520 | 291,988 |
Residential real estate | ||
Schedule of investment in past due loans | ||
Loans | 488,107 | 492,133 |
Consumer | ||
Schedule of investment in past due loans | ||
Loans | 214,900 | 221,795 |
Financing Receivables, 30 to 59 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 7,974 | 6,727 |
Financing Receivables, 60 to 89 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,105 | 2,150 |
Financing Receivables, Equal to Greater than 90 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 7,578 | 7,731 |
Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in past due loans | ||
Loans | 382,654 | 385,806 |
Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in past due loans | ||
Loans | 105,453 | 106,327 |
Consumer, Indirect | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 165,719 | 169,806 |
Consumer, Direct | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 38,229 | 39,933 |
Consumer, Other | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 10,952 | 12,056 |
Originated Loans | ||
Schedule of investment in past due loans | ||
Total Past Due | 11,658 | 11,361 |
Loans Not Past Due | 1,493,021 | 1,473,950 |
Loans | 1,504,679 | 1,485,311 |
Originated Loans | Financing Receivables, 30 to 59 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 6,069 | 5,005 |
Originated Loans | Financing Receivables, 60 to 89 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 854 | 1,557 |
Originated Loans | Financing Receivables, Equal to Greater than 90 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 4,735 | 4,799 |
Originated Loans | Commercial real estate, Owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 385 | 422 |
Loans Not Past Due | 164,062 | 158,161 |
Loans | 164,447 | 158,583 |
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 | 55 | 82 |
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 | 330 | 340 |
Originated Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 205 | 22 |
Loans Not Past Due | 255,559 | 255,458 |
Loans | 255,764 | 255,480 |
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 | 183 | 22 |
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 | 22 | 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 | 0 | 0 |
Originated Loans | Commercial real estate, Farmland | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 26 | 214 |
Loans Not Past Due | 114,756 | 110,547 |
Loans | 114,782 | 110,761 |
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 | 184 |
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 | 26 | 30 |
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 | 100,866 | 94,242 |
Loans | 100,866 | 94,242 |
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 | 593 | 281 |
Loans Not Past Due | 236,786 | 226,320 |
Loans | 237,379 | 226,601 |
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 | 154 | 159 |
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 | 0 | 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 | 439 | 122 |
Originated Loans | Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 5,579 | 4,891 |
Loans Not Past Due | 301,303 | 302,131 |
Loans | 306,882 | 307,022 |
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 | 3,275 | 1,964 |
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 | 11 | 424 |
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 | 2,293 | 2,503 |
Originated Loans | Commercial, Agricultural | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 247 | 237 |
Loans Not Past Due | 35,147 | 37,484 |
Loans | 35,394 | 37,721 |
Originated Loans | Commercial, Agricultural | Financing Receivables, 30 to 59 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 84 | 69 |
Originated Loans | Commercial, Agricultural | Financing Receivables, 60 to 89 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 5 | 10 |
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 | 158 | 158 |
Originated Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 883 | 753 |
Loans Not Past Due | 82,025 | 81,957 |
Loans | 82,908 | 82,710 |
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 | 0 | 64 |
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 | 153 | 14 |
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 | 730 | 675 |
Originated Loans | Consumer, Indirect | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 2,502 | 3,184 |
Loans Not Past Due | 163,217 | 166,622 |
Loans | 165,719 | 169,806 |
Originated Loans | Consumer, Indirect | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,454 | 1,714 |
Originated Loans | Consumer, Indirect | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 481 | 755 |
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 | 567 | 715 |
Originated Loans | Consumer, Direct | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,185 | 1,308 |
Loans Not Past Due | 28,563 | 29,183 |
Loans | 29,748 | 30,491 |
Originated Loans | Consumer, Direct | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 827 | 714 |
Originated Loans | Consumer, Direct | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 174 | 340 |
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 | 184 | 254 |
Originated Loans | Consumer, Other | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 53 | 49 |
Loans Not Past Due | 10,737 | 11,845 |
Loans | 10,790 | 11,894 |
Originated Loans | Consumer, Other | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 37 | 33 |
Originated Loans | Consumer, Other | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 8 | 14 |
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 | 8 | 2 |
Acquired Loans | ||
Schedule of investment in past due loans | ||
Total Past Due | 4,999 | 5,247 |
Loans Not Past Due | 233,973 | 245,282 |
Loans | 238,972 | 250,529 |
Acquired Loans | Financing Receivables, 30 to 59 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,905 | 1,722 |
Acquired Loans | Financing Receivables, 60 to 89 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 251 | 593 |
Acquired Loans | Financing Receivables, Equal to Greater than 90 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 2,843 | 2,932 |
Acquired Loans | Commercial real estate, Owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 43 | 321 |
Loans Not Past Due | 43,610 | 44,618 |
Loans | 43,653 | 44,939 |
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 | 43 | 321 |
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 | 0 |
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 | 0 | 0 |
Acquired Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 48 | 82 |
Loans Not Past Due | 16,044 | 16,764 |
Loans | 16,092 | 16,846 |
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 | 0 | 0 |
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 | 0 | 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 | 48 | 82 |
Acquired Loans | Commercial real estate, Farmland | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 613 | 359 |
Loans Not Past Due | 39,785 | 40,623 |
Loans | 40,398 | 40,982 |
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 | 284 | 0 |
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 | 72 | 102 |
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 | 257 | 257 |
Acquired Loans | Commercial real estate, Other | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Loans Not Past Due | 7,122 | 8,091 |
Loans | 7,122 | 8,091 |
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 | 0 | 0 |
Acquired Loans | Commercial, Commercial and industrial | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 838 | 918 |
Loans Not Past Due | 16,296 | 17,223 |
Loans | 17,134 | 18,141 |
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 | 84 | 94 |
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 | 754 | 824 |
Acquired Loans | Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,962 | 2,102 |
Loans Not Past Due | 73,810 | 76,682 |
Loans | 75,772 | 78,784 |
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 | 1,031 | 750 |
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 | 0 | 229 |
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 | 931 | 1,123 |
Acquired Loans | Commercial, Agricultural | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 312 | 327 |
Loans Not Past Due | 7,301 | 9,198 |
Loans | 7,613 | 9,525 |
Acquired Loans | Commercial, Agricultural | Financing Receivables, 30 to 59 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 17 | 31 |
Acquired Loans | Commercial, Agricultural | Financing Receivables, 60 to 89 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 5 |
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 | 295 | 291 |
Acquired Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 634 | 425 |
Loans Not Past Due | 21,911 | 23,192 |
Loans | 22,545 | 23,617 |
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 | 146 | 208 |
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 | 165 | 0 |
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 | 323 | 217 |
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 | 549 | 713 |
Loans Not Past Due | 7,932 | 8,729 |
Loans | 8,481 | 9,442 |
Acquired Loans | Consumer, Direct | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 300 | 318 |
Acquired Loans | Consumer, Direct | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 14 | 257 |
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 | 235 | 138 |
Acquired Loans | Consumer, Other | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Loans Not Past Due | 162 | 162 |
Loans | 162 | 162 |
Acquired Loans | Consumer, Other | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
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 | ||
Mar. 31, 2019USD ($)Loans | Mar. 31, 2018USD ($) | Dec. 31, 2018USD ($) | |
Financing Receivable Modifications [Line Items] | |||
Total troubled debt restructurings | $ 5,300,000 | $ 5,500,000 | |
Specific reserves to customers | 270,000 | 276,000 | |
Commitments to lend additional amounts to borrowers classified as troubled debt restructurings | 0 | 0 | |
Provision for loan losses | 550,000 | $ 775,000 | |
Residential real estate loan | |||
Financing Receivable Modifications [Line Items] | |||
Provision for loan losses | $ 0 | ||
Troubled debt restructured loans with subsequent payment defaults | Loans | Loans | 2 | ||
Loans default payment past due period | 30 days | ||
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 | $ 66,000 | $ 72,000 | |
Allowance adjustment charge offs | 6,000 | $ 19,000 | |
Provision for loan losses | $ 6,000 | $ 19,000 | |
Troubled debt restructurings | Residential real estate loan | |||
Financing Receivable Modifications [Line Items] | |||
Troubled debt restructured loans with subsequent payment defaults | Loans | Loans | 3 | ||
Loans default payment past due period | 30 days | ||
Contractual Interest Rate Reduction | |||
Financing Receivable Modifications [Line Items] | |||
Reduction of the notes stated interest rate | 1.75% | ||
Contractual Interest Rate Reduction | Minimum | |||
Financing Receivable Modifications [Line Items] | |||
Reduction of the notes stated interest rate | 2.375% | ||
Contractual Interest Rate Reduction | Maximum | |||
Financing Receivable Modifications [Line Items] | |||
Reduction of the notes stated interest rate | 2.74% | ||
Extended Maturity | |||
Financing Receivable Modifications [Line Items] | |||
Maturity period loans | 86 months | 6 months |
Troubled Debt Restructurings _2
Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019USD ($)Loan | Mar. 31, 2018USD ($)Loan | |
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 18 | 15 |
Pre-Modification Outstanding Recorded Investment | $ 269 | $ 554 |
Post-Modification Outstanding Recorded Investment | $ 275 | $ 554 |
Originated Loans | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 16 | 11 |
Pre-Modification Outstanding Recorded Investment | $ 218 | $ 446 |
Post-Modification Outstanding Recorded Investment | $ 220 | $ 446 |
Originated Loans | Residential real estate, 1-4 family residential | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 3 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 73 | $ 43 |
Post-Modification Outstanding Recorded Investment | $ 75 | $ 43 |
Originated Loans | Residential real estate, Home equity lines of credit | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 40 | $ 14 |
Post-Modification Outstanding Recorded Investment | $ 40 | $ 14 |
Originated Loans | Consumer, Indirect | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 12 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 105 | $ 29 |
Post-Modification Outstanding Recorded Investment | $ 105 | $ 29 |
Originated Loans | Commercial real estate, Owner occupied | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 360 | |
Post-Modification Outstanding Recorded Investment | $ 360 | |
Acquired Loans | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 4 | |
Pre-Modification Outstanding Recorded Investment | $ 108 | |
Post-Modification Outstanding Recorded Investment | $ 108 | |
Acquired Loans | Residential real estate, 1-4 family residential | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 2 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 51 | $ 108 |
Post-Modification Outstanding Recorded Investment | $ 55 | $ 108 |
Credit Quality Indicators (Deta
Credit Quality Indicators (Details Textual) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment [Line Items] | ||
Maximum 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 | 208,000 | $ 0 |
Other real estate properties in foreclosure | $ 1,000,000 | $ 1,200,000 |
Credit Quality Indicators (De_2
Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | $ 1,040,644 | $ 1,021,912 |
Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 1,019,454 | 996,670 |
Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 10,634 | 13,670 |
Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 10,556 | 11,572 |
Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 908,632 | 883,388 |
Originated Loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 895,604 | 867,288 |
Originated Loans | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 9,253 | 11,998 |
Originated Loans | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 3,775 | 4,102 |
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 | 164,447 | 158,583 |
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 | 255,764 | 255,480 |
Originated Loans | Commercial real estate | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 114,782 | 110,761 |
Originated Loans | Commercial real estate | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 100,866 | 94,242 |
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 | 162,064 | 156,892 |
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 | 251,581 | 251,240 |
Originated Loans | Commercial real estate | Pass | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 113,432 | 109,391 |
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 | 99,207 | 92,669 |
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 | 1,653 | 945 |
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 | 4,085 | 4,139 |
Originated Loans | Commercial real estate | Special Mention | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 1,285 | 1,301 |
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 | 1,417 | 1,325 |
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 | 730 | 746 |
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 | 98 | 101 |
Originated Loans | Commercial real estate | Substandard | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 65 | 69 |
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 | 242 | 248 |
Originated Loans | Commercial | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 237,379 | 226,601 |
Originated Loans | Commercial | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 35,394 | 37,721 |
Originated Loans | Commercial | Pass | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 234,405 | 219,938 |
Originated Loans | Commercial | Pass | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 34,915 | 37,158 |
Originated Loans | Commercial | Special Mention | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 736 | 4,207 |
Originated Loans | Commercial | Special Mention | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 77 | 81 |
Originated Loans | Commercial | Substandard | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 2,238 | 2,456 |
Originated Loans | Commercial | Substandard | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 402 | 482 |
Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 132,012 | 138,524 |
Acquired Loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 123,850 | 129,382 |
Acquired Loans | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 1,381 | 1,672 |
Acquired Loans | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 6,781 | 7,470 |
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 | 43,653 | 44,939 |
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 | 16,092 | 16,846 |
Acquired Loans | Commercial real estate | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 40,398 | 40,982 |
Acquired Loans | Commercial real estate | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 7,122 | 8,091 |
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 | 42,666 | 43,763 |
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 | 15,889 | 16,601 |
Acquired Loans | Commercial real estate | Pass | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 36,040 | 36,565 |
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 | 6,470 | 7,434 |
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 | 127 | 430 |
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 | 57 | 58 |
Acquired Loans | Commercial real estate | Special Mention | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 665 | 668 |
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 | 0 | 0 |
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 | 860 | 746 |
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 | 146 | 187 |
Acquired Loans | Commercial real estate | Substandard | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 3,693 | 3,749 |
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 | 652 | 657 |
Acquired Loans | Commercial | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 17,134 | 18,141 |
Acquired Loans | Commercial | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 7,613 | 9,525 |
Acquired Loans | Commercial | Pass | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 16,079 | 16,407 |
Acquired Loans | Commercial | Pass | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 6,706 | 8,612 |
Acquired Loans | Commercial | Special Mention | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 170 | 170 |
Acquired Loans | Commercial | Special Mention | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 362 | 346 |
Acquired Loans | Commercial | Substandard | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 885 | 1,564 |
Acquired Loans | Commercial | Substandard | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | $ 545 | $ 567 |
Credit Quality Indicators (De_3
Credit Quality Indicators (Details 1) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 1,743,651 | $ 1,735,840 |
Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,504,679 | 1,485,311 |
Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 238,972 | 250,529 |
Residential real estate | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 488,107 | 492,133 |
Residential real estate | Residential real estate, 1-4 family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 382,654 | 385,806 |
Residential real estate | Residential real estate, 1-4 family residential | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 306,882 | 307,022 |
Residential real estate | Residential real estate, 1-4 family residential | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 304,589 | 304,519 |
Residential real estate | Residential real estate, 1-4 family residential | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,293 | 2,503 |
Residential real estate | Residential real estate, 1-4 family residential | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 75,772 | 78,784 |
Residential real estate | Residential real estate, 1-4 family residential | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 74,841 | 77,661 |
Residential real estate | Residential real estate, 1-4 family residential | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 931 | 1,123 |
Residential real estate | Residential real estate, Home equity lines of credit | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 105,453 | 106,327 |
Residential real estate | Residential real estate, Home equity lines of credit | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 82,908 | 82,710 |
Residential real estate | Residential real estate, Home equity lines of credit | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 82,178 | 82,035 |
Residential real estate | Residential real estate, Home equity lines of credit | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 730 | 675 |
Residential real estate | Residential real estate, Home equity lines of credit | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 22,545 | 23,617 |
Residential real estate | Residential real estate, Home equity lines of credit | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 22,222 | 23,400 |
Residential real estate | Residential real estate, Home equity lines of credit | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 323 | 217 |
Consumer | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 214,900 | 221,795 |
Consumer | Consumer, Indirect | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 165,719 | 169,806 |
Consumer | Consumer, Indirect | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 165,719 | 169,806 |
Consumer | Consumer, Indirect | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 165,152 | 169,091 |
Consumer | Consumer, Indirect | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 567 | 715 |
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 | 38,229 | 39,933 |
Consumer | Consumer, Direct | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 29,748 | 30,491 |
Consumer | Consumer, Direct | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 29,564 | 30,237 |
Consumer | Consumer, Direct | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 184 | 254 |
Consumer | Consumer, Direct | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 8,481 | 9,442 |
Consumer | Consumer, Direct | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 8,246 | 9,304 |
Consumer | Consumer, Direct | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 235 | 138 |
Consumer | Consumer, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 10,952 | 12,056 |
Consumer | Consumer, Other | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 10,790 | 11,894 |
Consumer | Consumer, Other | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 10,782 | 11,892 |
Consumer | Consumer, Other | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 8 | 2 |
Consumer | Consumer, Other | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 162 | 162 |
Consumer | Consumer, Other | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 162 | 162 |
Consumer | Consumer, Other | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 0 | $ 0 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disaggregation Of Revenue [Line Items] | ||
TOTAL NONINTEREST INCOME | $ 6,520 | $ 6,010 |
Service Charges on Deposit Accounts | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 1,074 | 1,003 |
Debit Card and EFT Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 778 | 806 |
Trust Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 1,858 | 1,807 |
Insurance Agency Commissions | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 803 | 699 |
Retirement Plan Consulting Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 358 | 379 |
Investment Commissions | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 260 | 256 |
Operating Segments | ||
Disaggregation Of Revenue [Line Items] | ||
TOTAL NONINTEREST INCOME | 6,520 | 6,010 |
Operating Segments | Service Charges on Deposit Accounts | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 1,074 | 1,003 |
Operating Segments | Debit Card and EFT Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 778 | 806 |
Operating Segments | Trust Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 1,858 | 1,807 |
Operating Segments | Insurance Agency Commissions | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 803 | 699 |
Operating Segments | Retirement Plan Consulting Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 358 | 379 |
Operating Segments | Investment Commissions | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 260 | 256 |
Operating Segments | Other | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 1,389 | 1,060 |
Operating Segments | Trust Segment | ||
Disaggregation Of Revenue [Line Items] | ||
TOTAL NONINTEREST INCOME | 1,858 | 1,807 |
Operating Segments | Trust Segment | Service Charges on Deposit Accounts | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Trust Segment | Debit Card and EFT Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Trust Segment | Trust Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 1,858 | 1,807 |
Operating Segments | Trust Segment | Insurance Agency Commissions | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Trust Segment | Retirement Plan Consulting Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Trust Segment | Investment Commissions | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Trust Segment | Other | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Bank Segment | ||
Disaggregation Of Revenue [Line Items] | ||
TOTAL NONINTEREST INCOME | 4,304 | 3,824 |
Operating Segments | Bank Segment | Service Charges on Deposit Accounts | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 1,074 | 1,003 |
Operating Segments | Bank Segment | Debit Card and EFT Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 778 | 806 |
Operating Segments | Bank Segment | Trust Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Bank Segment | Insurance Agency Commissions | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 803 | 699 |
Operating Segments | Bank Segment | Retirement Plan Consulting Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Bank Segment | Investment Commissions | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 260 | 256 |
Operating Segments | Bank Segment | Other | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 1,389 | 1,060 |
Operating Segments | Retirement Consulting Segment | ||
Disaggregation Of Revenue [Line Items] | ||
TOTAL NONINTEREST INCOME | 358 | 379 |
Operating Segments | Retirement Consulting Segment | Service Charges on Deposit Accounts | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Retirement Consulting Segment | Debit Card and EFT Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Retirement Consulting Segment | Trust Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Retirement Consulting Segment | Insurance Agency Commissions | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Retirement Consulting Segment | Retirement Plan Consulting Fees | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 358 | 379 |
Operating Segments | Retirement Consulting Segment | Investment Commissions | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | 0 | 0 |
Operating Segments | Retirement Consulting Segment | Other | ||
Disaggregation Of Revenue [Line Items] | ||
Noninterest income | $ 0 | $ 0 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers (Details Textual) - ASC 606 | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Revenue From Contract With Customer [Line Items] | |
Contingent debit card interchange fees | $ 0 |
Contingent incentive fees | 0 |
Contingent commission | $ 0 |
Percentage of insurance agency commissions representing total revenue | 2.60% |
Percentage of retirement plan consulting fees representing total revenue | 1.10% |
Percentage of investment commissions representing total revenue | 0.80% |
Cetera | |
Revenue From Contract With Customer [Line Items] | |
Contingent investment commissions to be refunded | $ 0 |
Interest-Rate Swaps (Details)
Interest-Rate Swaps (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | ||||
Weighted average pay rate on interest-rate swaps | 4.49% | 4.53% | ||
Weighted average receive rate on interest-rate swaps | 4.79% | 4.78% | ||
Weighted average maturity (years) | 4 years 2 months 12 days | 4 years 4 months 24 days | ||
Fair value of interest-rate swaps | $ (1,092) | $ (767) | ||
Fair value of loan yield maintenance provisions | 1,092 | 767 | ||
Interest rate swaps | ||||
Derivative [Line Items] | ||||
Notional amounts | $ 42,425 | $ 35,996 |
Interest-Rate Swaps (Details Te
Interest-Rate Swaps (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
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, 2019 | Mar. 31, 2018 | |
Basic EPS | ||
Net income | $ 8,388 | $ 7,726 |
Weighted average shares outstanding | 27,790,028 | 27,578,858 |
Basic earnings per share | $ 0.30 | $ 0.28 |
Diluted EPS | ||
Net income | $ 8,388 | $ 7,726 |
Weighted average shares outstanding | 27,790,028 | 27,578,858 |
Average unvested restricted stock awards | 193,301 | 339,153 |
Weighted average shares for diluted earnings per share | 27,983,329 | 27,918,011 |
Diluted earnings per share | $ 0.30 | $ 0.28 |
Earnings Per Share (Details Tex
Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
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) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2012 | |
2017 Incentive Plan | Restricted Stock Awards | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Maximum shares available under equity incentive plan | 800,000 | |||
Stock based compensation expense | $ 320 | $ 397 | ||
Unrecognized compensation expense | $ 2,300 | |||
Compensation cost not yet recognized, period for recognition | 3 years | |||
2017 Incentive Plan | Time Based Restricted Stock Awards | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Shares awarded under equity incentive plan | 18,913 | |||
2017 Incentive Plan | Performance Based Restricted Stock Awards | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Shares awarded under equity incentive plan | 67,651 | |||
2012 Incentive Plan | 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 | $ 320 | $ 397 | ||
Unrecognized compensation expense | $ 2,300 | |||
Compensation cost not yet recognized, period for recognition | 3 years |
Stock Based Compensation (Det_2
Stock Based Compensation (Details) - 2017 Incentive Plan and 2012 Incentive Plan | 3 Months Ended |
Mar. 31, 2019$ / sharesshares | |
Service Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Beginning balance - nonvested shares, Maximum Awarded Unit | shares | 87,955 |
Granted, Maximum Awarded Units | shares | 18,913 |
Vested, Maximum Awarded Units | shares | 0 |
Forfeited, Maximum Awarded Units | shares | 0 |
Ending balance - nonvested shares, Maximum Awarded Unit | shares | 106,868 |
Beginning balance - nonvested shares, Weighted Average Grant Date Fair Value | $ / shares | $ 13.04 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 13.61 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 0 |
Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 0 |
Ending balance - nonvested shares, Weighted Average Grant Date Fair Value | $ / shares | $ 13.14 |
Performance Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Beginning balance - nonvested shares, Maximum Awarded Unit | shares | 203,828 |
Granted, Maximum Awarded Units | shares | 67,651 |
Vested, Maximum Awarded Units | shares | 0 |
Forfeited, Maximum Awarded Units | shares | 0 |
Ending balance - nonvested shares, Maximum Awarded Unit | shares | 271,479 |
Beginning balance - nonvested shares, Weighted Average Grant Date Fair Value | $ / shares | $ 11.96 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 13.50 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 0 |
Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 0 |
Ending balance - nonvested shares, Weighted Average Grant Date Fair Value | $ / shares | $ 12.35 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Comprehensive Income Net Of Tax [Abstract] | |||
Unrealized holding gains (losses) on available-for-sale securities during the period, pre-tax | $ 5,821 | $ (8,886) | |
Reclassification adjustment for (gains) losses included in net income, pre-tax | [1] | 34 | (2) |
Net other comprehensive income (loss), pre-tax | 5,855 | (8,888) | |
Unrealized holding gains (losses) on available-for-sale securities during the period, tax | (1,223) | 1,866 | |
Reclassification adjustment for (gains) losses included in net income, tax | [1] | (7) | 0 |
Net other comprehensive income (loss), tax | (1,230) | 1,866 | |
Unrealized holding gains (losses) on available-for-sale securities during the period, after tax | 4,598 | (7,020) | |
Reclassification adjustment for (gains) losses included in net income, after-tax | [1] | 27 | (2) |
Other comprehensive income (loss), net of tax | $ 4,625 | $ (7,022) | |
[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, 2019 | Dec. 31, 2018 |
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 | 2.50% | 1.875% |
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 (D_2
Regulatory Capital Matters (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Common equity tier 1 capital ratio | ||
Actual, Amount | $ 229,240 | $ 222,892 |
Actual, Ratio | 12.37% | 12.16% |
Requirement for Capital Adequacy Purposes, Amount | $ 83,374 | $ 82,478 |
Requirement for Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Total risk based capital ratio | ||
Actual, Amount | $ 245,287 | $ 238,742 |
Actual, Ratio | 13.24% | 13.03% |
Requirement for Capital Adequacy Purposes, Amount | $ 148,220 | $ 146,628 |
Requirement for Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier 1 risk based capital ratio | ||
Actual, Amount | $ 231,510 | $ 225,150 |
Actual, Ratio | 12.50% | 12.28% |
Requirement for Capital Adequacy Purposes, Amount | $ 111,165 | $ 109,971 |
Requirement for Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
Tier 1 leverage ratio | ||
Actual, Amount | $ 231,510 | $ 225,150 |
Actual, Ratio | 10.07% | 9.91% |
Requirement for Capital Adequacy Purposes, Amount | $ 92,004 | $ 90,900 |
Requirement for Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Farmers National Banc Corp | ||
Common equity tier 1 capital ratio | ||
Actual, Amount | $ 215,987 | $ 210,409 |
Actual, Ratio | 11.68% | 11.51% |
Requirement for Capital Adequacy Purposes, Amount | $ 83,223 | $ 82,242 |
Requirement for Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 120,211 | $ 118,795 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | 6.50% |
Total risk based capital ratio | ||
Actual, Amount | $ 229,764 | $ 224,001 |
Actual, Ratio | 12.42% | 12.26% |
Requirement for Capital Adequacy Purposes, Amount | $ 147,952 | $ 146,209 |
Requirement for Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 184,940 | $ 182,761 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 risk based capital ratio | ||
Actual, Amount | $ 215,987 | $ 210,409 |
Actual, Ratio | 11.68% | 11.51% |
Requirement for Capital Adequacy Purposes, Amount | $ 110,964 | $ 109,656 |
Requirement for Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 147,952 | $ 146,209 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Tier 1 leverage ratio | ||
Actual, Amount | $ 215,987 | $ 210,409 |
Actual, Ratio | 9.45% | 9.32% |
Requirement for Capital Adequacy Purposes, Amount | $ 91,428 | $ 90,324 |
Requirement for Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 114,285 | $ 112,905 |
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, 2019 | Dec. 31, 2018 |
Financial Assets | ||
Securities available for sale | $ 403,770 | $ 402,190 |
Equity securities | 7,460 | 7,130 |
Loan yield maintenance provisions | 1,092 | 767 |
Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Total investment securities | 411,230 | 409,320 |
Loan yield maintenance provisions | 1,092 | 767 |
Corporate bonds | ||
Financial Assets | ||
Securities available for sale | 1,203 | 1,188 |
Corporate bonds | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 1,203 | 1,188 |
Collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 20,685 | 21,072 |
Small Business Administration | ||
Financial Assets | ||
Securities available for sale | 11,691 | 11,930 |
Small Business Administration | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 11,691 | 11,930 |
Other equity investments measured at net asset value | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Equity securities | 6,907 | 6,635 |
U.S. Treasury and U.S. government sponsored entities | ||
Financial Assets | ||
Securities available for sale | 5,847 | 6,009 |
U.S. Treasury and U.S. government sponsored entities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 5,847 | 6,009 |
State and political subdivisions | ||
Financial Assets | ||
Securities available for sale | 214,736 | 211,944 |
State and political subdivisions | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 214,736 | 211,944 |
Mortgage-backed securities - residential | ||
Financial Assets | ||
Securities available for sale | 149,608 | 150,047 |
Mortgage-backed securities - residential | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 149,608 | 150,047 |
Equity securities at fair value | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Equity securities | 553 | 495 |
Interest rate swaps | Fair Value, Measurements, Recurring | ||
Financial Liabilities | ||
Derivative liabilities | 1,092 | 767 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Total investment securities | 553 | 495 |
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 at fair value | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Equity securities | 553 | 495 |
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 | ||
Total investment securities | 403,764 | 402,184 |
Loan yield maintenance provisions | 1,092 | 767 |
Significant Other Observable Inputs (Level 2) | Corporate bonds | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 1,203 | 1,188 |
Significant Other Observable Inputs (Level 2) | Collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 20,685 | 21,072 |
Significant Other Observable Inputs (Level 2) | Small Business Administration | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 11,691 | 11,930 |
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 | 5,847 | 6,009 |
Significant Other Observable Inputs (Level 2) | State and political subdivisions | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 214,736 | 211,944 |
Significant Other Observable Inputs (Level 2) | Mortgage-backed securities - residential | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 149,602 | 150,041 |
Significant Other Observable Inputs (Level 2) | Equity securities at fair value | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Equity securities | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Interest rate swaps | Fair Value, Measurements, Recurring | ||
Financial Liabilities | ||
Derivative liabilities | 1,092 | 767 |
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Total investment securities | 6 | 6 |
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 | 6 | 6 |
Significant Unobservable Inputs (Level 3) | Equity securities at fair value | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Equity securities | 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 | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
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 | 1,828,000 | $ 1,897,000 | |
Impaired loans, allowance | 270,000 | 276,000 | |
Provision for loan losses | 550,000 | 775,000 | |
Troubled debt restructurings | $ 5,300,000 | 5,500,000 | |
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 | $ 686,000 | 694,000 | |
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 | 1,100,000 | 1,100,000 | |
Impaired loans, allowance | 223,000 | $ 227,000 | |
Provision for loan losses | $ 0 | $ 66,000 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs | ||
Beginning Balance | $ 6 | $ 8 |
Transfers from level 2 | 0 | 0 |
Repayments, calls and maturities | 0 | (1) |
Ending Balance | $ 6 | $ 7 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | $ 5,524 | $ 5,723 |
Commercial real estate | Commercial real estate, Farmland | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 251 | 251 |
Residential Real Estate | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 577 | 640 |
Consumer | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 32 | 7 |
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 | 51 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial real estate | Commercial real estate, Farmland | 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) | 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 |
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 | |
Significant Other Observable Inputs (Level 2) | Commercial real estate | Commercial real estate, Farmland | 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) | 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 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 | |
Significant Unobservable Inputs (Level 3) | Commercial real estate | Commercial real estate, Farmland | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 251 | 251 |
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 | 577 | 640 |
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 | 32 | $ 7 |
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 | $ 51 |
Fair Value (Details 3)
Fair Value (Details 3) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Fair value measurements for financial instruments | ||
Recorded Investment | $ 5,524 | $ 5,723 |
Fair Value, Measurements, Nonrecurring | Residential Real Estate | ||
Fair value measurements for financial instruments | ||
Recorded Investment | 577 | 640 |
Fair Value, Measurements, Nonrecurring | Consumer | ||
Fair value measurements for financial instruments | ||
Recorded Investment | 32 | 7 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial real estate | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 251 | $ 251 |
Fair Value Measurements Valuation Technique(s) Description | Sales comparison | Sales comparison |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial real estate | Maximum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 16.16 | 16.16 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial real estate | Weighted Average | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 9.39 | 9.39 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial real estate | Minimum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (22.70) | (22.70) |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 577 | $ 640 |
Fair Value Measurements Valuation Technique(s) Description | Sales comparison | Sales comparison |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | Maximum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 45.99 | 45.99 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | Weighted Average | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 5.56 | 6.52 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | Minimum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (49.90) | (49.90) |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 32 | $ 7 |
Fair Value Measurements Valuation Technique(s) Description | Sales comparison | Sales comparison |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | Maximum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 9.63 | 5.71 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | Weighted Average | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | Minimum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (9.63) | (5.71) |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Other Real Estate Owned | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 51 | |
Fair Value Measurements Valuation Technique(s) Description | Sales comparison | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Other Real Estate Owned | Maximum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 32.49 | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Other Real Estate Owned | Weighted Average | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 7.30 | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Other Real Estate Owned | Minimum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (39.77) |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financial assets | ||||
Cash and cash equivalents, Carrying Amount | $ 69,672 | $ 57,926 | $ 52,149 | $ 57,614 |
Restricted stock, Carrying Amount | 11,729 | 11,737 | ||
Loans held for sale, Carrying Amount | 2,360 | 1,237 | ||
Loans, net, Carrying Amount | 1,729,874 | 1,722,248 | ||
Accrued interest receivable, Carrying Amount | 7,722 | 7,114 | ||
Financial liabilities | ||||
Deposits, Carrying Amount | 1,954,333 | 1,799,720 | ||
Short-term borrowings, Carrying Amount | 103,498 | 244,759 | ||
Long-term borrowings | 5,850 | 6,033 | ||
Accrued interest payable, Carrying Amount | 1,168 | 990 | ||
Fair Value, Measurements, Recurring | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 69,672 | 57,926 | ||
Loans held for sale, Fair Value | 2,431 | 1,274 | ||
Loans, net, Fair Value | 1,687,534 | 1,673,626 | ||
Accrued interest receivable, Fair Value | 7,722 | 7,114 | ||
Financial liabilities | ||||
Deposits, Fair Value | 1,951,071 | 1,794,566 | ||
Short-term borrowings, Fair Value | 103,498 | 244,759 | ||
Long-term borrowings, Fair Value | 5,763 | 5,847 | ||
Accrued interest payable, Fair value | 1,168 | 990 | ||
Fair Value, Measurements, Recurring | Level 1 | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 20,869 | 18,042 | ||
Loans held for sale, Fair Value | 0 | 0 | ||
Loans, net, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 0 | 0 | ||
Financial liabilities | ||||
Deposits, Fair Value | 1,469,330 | 1,427,260 | ||
Short-term borrowings, Fair Value | 0 | 0 | ||
Long-term borrowings, Fair Value | 0 | 0 | ||
Accrued interest payable, Fair value | 77 | 63 | ||
Fair Value, Measurements, Recurring | Level 2 | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 48,803 | 39,884 | ||
Loans held for sale, Fair Value | 2,431 | 1,274 | ||
Loans, net, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 2,352 | 2,359 | ||
Financial liabilities | ||||
Deposits, Fair Value | 481,741 | 367,306 | ||
Short-term borrowings, Fair Value | 103,498 | 244,759 | ||
Long-term borrowings, Fair Value | 5,763 | 5,847 | ||
Accrued interest payable, Fair value | 1,091 | 927 | ||
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 | 1,687,534 | 1,673,626 | ||
Accrued interest receivable, Fair Value | 5,370 | 4,755 | ||
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 | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Goodwill and other intangibles | $ 43,625 | $ 43,952 | |
Total assets | 2,356,074 | 2,328,864 | |
Net interest income | 19,965 | $ 18,946 | |
Provision for loan losses | 550 | 775 | |
Service fees, security gains and other noninterest income | 6,520 | 6,010 | |
Noninterest expense | 15,268 | 14,347 | |
Amortization and depreciation expense | 709 | 749 | |
INCOME BEFORE INCOME TAXES | 9,958 | 9,085 | |
Income taxes | 1,570 | 1,359 | |
NET INCOME | 8,388 | 7,726 | |
Eliminations And Others | |||
Segment Reporting Information [Line Items] | |||
Goodwill and other intangibles | (822) | (822) | |
Total assets | 4,553 | 4,670 | |
Net interest income | (22) | (18) | |
Provision for loan losses | 0 | 0 | |
Service fees, security gains and other noninterest income | (41) | (61) | |
Noninterest expense | 140 | 206 | |
Amortization and depreciation expense | 12 | 12 | |
INCOME BEFORE INCOME TAXES | (215) | (297) | |
Income taxes | (112) | (109) | |
NET INCOME | (103) | (188) | |
Trust Segment | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Goodwill and other intangibles | 4,152 | 4,199 | |
Total assets | 11,852 | 11,490 | |
Net interest income | 38 | 31 | |
Provision for loan losses | 0 | 0 | |
Service fees, security gains and other noninterest income | 1,898 | 1,838 | |
Noninterest expense | 1,263 | 1,277 | |
Amortization and depreciation expense | 52 | 63 | |
INCOME BEFORE INCOME TAXES | 621 | 529 | |
Income taxes | 130 | 111 | |
NET INCOME | 491 | 418 | |
Bank Segment | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Goodwill and other intangibles | 37,870 | 38,113 | |
Total assets | 2,336,476 | 2,309,644 | |
Net interest income | 19,949 | 18,933 | |
Provision for loan losses | 550 | 775 | |
Service fees, security gains and other noninterest income | 4,305 | 3,854 | |
Noninterest expense | 13,527 | 12,552 | |
Amortization and depreciation expense | 605 | 624 | |
INCOME BEFORE INCOME TAXES | 9,572 | 8,836 | |
Income taxes | 1,556 | 1,353 | |
NET INCOME | 8,016 | 7,483 | |
Retirement Consulting Segment | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Goodwill and other intangibles | 2,425 | 2,462 | |
Total assets | 3,193 | $ 3,060 | |
Net interest income | 0 | 0 | |
Provision for loan losses | 0 | 0 | |
Service fees, security gains and other noninterest income | 358 | 379 | |
Noninterest expense | 338 | 312 | |
Amortization and depreciation expense | 40 | 50 | |
INCOME BEFORE INCOME TAXES | (20) | 17 | |
Income taxes | (4) | 4 | |
NET INCOME | $ (16) | $ 13 |
Leases (Details Textual)
Leases (Details Textual) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Lessee Lease Description [Line Items] | |
Operating leases options to extend | 10 years |
Operating leases Options to terminate | 1 year |
Operating lease, right-of-use asset | $ 3,500 |
Operating lease, liability | 3,533 |
Operating lease, payments | 146 |
Finance leases, interest expense | 27 |
Finance leases, amortization expense | $ 89 |
Weighted average remaining lease term | 7 years 1 month 6 days |
Weighted-average discount rate | 3.40% |
Minimum | |
Lessee Lease Description [Line Items] | |
Operating leases remaining lease terms | 1 year |
Maximum | |
Lessee Lease Description [Line Items] | |
Operating leases remaining lease terms | 11 years 6 months |
Leases (Details)
Leases (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Leases [Abstract] | |
2019 | $ 438 |
2020 | 590 |
2021 | 592 |
2022 | 475 |
2023 | 418 |
Thereafter | 1,664 |
Total Payments | 4,177 |
Less: Imputed Interest | (644) |
Total | $ 3,533 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||
Goodwill associated with the Company's recent purchase and other past acquisitions | $ 38,201 | $ 38,201 | |
Aggregate amortization expense | $ 327 | $ 354 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Acquired intangible assets | ||
Gross Carrying Amount | $ 14,414 | $ 14,414 |
Accumulated Amortization | (8,990) | (8,663) |
Customer Relationships | ||
Acquired intangible assets | ||
Gross Carrying Amount | 7,210 | 7,210 |
Accumulated Amortization | (5,595) | (5,481) |
Non-compete contracts | ||
Acquired intangible assets | ||
Gross Carrying Amount | 430 | 430 |
Accumulated Amortization | (381) | (380) |
Trade Name | ||
Acquired intangible assets | ||
Gross Carrying Amount | 520 | 520 |
Accumulated Amortization | (241) | (229) |
Core Deposits | ||
Acquired intangible assets | ||
Gross Carrying Amount | 6,254 | 6,254 |
Accumulated Amortization | $ (2,773) | $ (2,573) |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Finite Lived Intangible Assets Future Amortization Expense [Abstract] | ||
2019 (Nine months) | $ 980 | |
2020 | 1,202 | |
2021 | 1,142 | |
2022 | 1,025 | |
2023 | 514 | |
Thereafter | 561 | |
TOTAL | $ 5,424 | $ 5,751 |
Short-term borrowings (Details
Short-term borrowings (Details Textual) $ in Thousands | Mar. 31, 2019USD ($)Institution | Dec. 31, 2018USD ($)Institution |
Short Term Debt [Line Items] | ||
Short-term Federal Home Loan Banks advances | $ 100,000 | $ 240,000 |
Securities sold under repurchase agreements | 3,100 | 4,400 |
Business line of credit | $ 350 | $ 350 |
Number of lending institutions | Institution | 1 | 1 |
US Treasury and Government Short-term Debt Securities | ||
Short Term Debt [Line Items] | ||
Securities sold under repurchase agreements | $ 3,300 | $ 4,600 |
Pledged securities, percentage of repurchase agreement balances | 105.00% | |
Weighted Average | ||
Short Term Debt [Line Items] | ||
Weighted average interest rate | 2.53% |
Short-term borrowings (Details)
Short-term borrowings (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | $ 103,498 | $ 244,759 |
Repurchase agreement | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | 3,148 | 4,409 |
Repurchase agreement | U.S. Treasury and U.S. government sponsored entities | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | 178 | 332 |
Repurchase agreement | State and political subdivisions | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | 881 | 664 |
Repurchase agreement | Mortgage-backed securities - residential | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | 1,832 | 3,094 |
Repurchase agreement | Collateralized mortgage obligations | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | $ 257 | $ 319 |