Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 01, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | FARMERS CAPITAL BANK CORP | |
Entity Central Index Key | 713,095 | |
Trading Symbol | ffkt | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 7,521,430 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 23,922 | $ 25,581 |
Interest bearing deposits in other banks | 31,303 | 58,154 |
Money market mutual funds | 38,021 | 36,673 |
Total cash and cash equivalents | 93,246 | 120,408 |
Investment securities: | ||
Available for sale, amortized cost of $391,093 (2018) and $427,831 (2017) | 379,979 | 423,318 |
Equity investments, amortized cost of $1,581 (2018) and $864 (2017) | 1,573 | 935 |
Held to maturity, fair value of $2,868 (2018) and $3,478 (2017) | 2,837 | 3,364 |
Total investment securities | 384,389 | 427,617 |
Loans, net of unearned income | 1,064,215 | 1,035,263 |
Allowance for loan losses | (10,001) | (9,783) |
Loans, net | 1,054,214 | 1,025,480 |
Premises and equipment, net | 31,434 | 30,928 |
Company-owned life insurance | 30,944 | 30,817 |
Other real estate owned | 4,031 | 5,489 |
Other assets | 33,704 | 33,133 |
Total assets | 1,631,962 | 1,673,872 |
Deposits: | ||
Noninterest bearing | 357,657 | 361,855 |
Interest bearing | 977,130 | 1,018,048 |
Total deposits | 1,334,787 | 1,379,903 |
Securities sold under agreements to repurchase | 33,532 | 34,252 |
Federal Home Loan Bank advances | 3,392 | 3,479 |
Subordinated notes payable to unconsolidated trusts | 33,506 | 33,506 |
Dividends payable, common stock | 940 | 939 |
Other liabilities | 27,913 | 28,440 |
Total liabilities | 1,434,070 | 1,480,519 |
Shareholders’ Equity | ||
Common stock, par value $.125 per share; 14,608,000 shares authorized; 7,521,101 and 7,517,446 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively | 940 | 940 |
Capital surplus | 52,348 | 52,201 |
Retained earnings | 153,442 | 143,778 |
Accumulated other comprehensive loss | (8,838) | (3,566) |
Total shareholders’ equity | 197,892 | 193,353 |
Total liabilities and shareholders’ equity | $ 1,631,962 | $ 1,673,872 |
Unaudited Condensed Consolidat3
Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Available for sale, amortized cost | $ 391,093 | $ 427,831 |
Equity investments, amortized cost | 1,581 | 864 |
Held to maturity, fair value | $ 2,868 | $ 3,478 |
Common stock, par value (in dollars per share) | $ 0.125 | $ 0.125 |
Common stock, shares authorized (in shares) | 14,608,000 | 14,608,000 |
Common stock, shares issued (in shares) | 7,521,101 | 7,517,446 |
Common stock, shares outstanding (in shares) | 7,521,101 | 7,517,446 |
Unaudited Condensed Consolidat4
Unaudited Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Interest Income | |||||
Interest and fees on loans | $ 13,038 | $ 12,106 | $ 25,507 | $ 23,828 | |
Interest on investment securities: | |||||
Taxable | 2,023 | 1,984 | 4,048 | 3,884 | |
Nontaxable | 449 | 579 | 924 | 1,170 | |
Interest on deposits in other banks | 280 | 128 | 549 | 270 | |
Interest on federal funds sold and money market mutual funds | 142 | 33 | 248 | 57 | |
Total interest income | 15,932 | 14,830 | 31,276 | 29,209 | |
Interest Expense | |||||
Interest on deposits | 614 | 523 | 1,200 | 1,056 | |
Interest on securities sold under agreements to repurchase | 20 | 16 | 39 | 41 | |
Interest on Federal Home Loan Bank advances | 27 | 129 | 55 | 289 | |
Interest on subordinated notes payable to unconsolidated trusts | 305 | 213 | 559 | 411 | |
Total interest expense | 966 | 881 | 1,853 | 1,797 | |
Net interest income | 14,966 | 13,949 | 29,423 | 27,412 | |
Provision for loan losses | 127 | (499) | (134) | 81 | |
Net interest income after provision for loan losses | 14,839 | 14,448 | 29,557 | 27,331 | |
Noninterest Income | |||||
Net loss on sales of available for sale investment securities | [1] | 0 | (1) | 0 | (10) |
Net realized gain on sales of equity investment securities | [1] | 808 | 0 | 808 | 0 |
Gains on sale of mortgage loans, net | [1] | 104 | 189 | 199 | 343 |
Income from company-owned life insurance | [1] | 213 | 221 | 506 | 456 |
Other | 89 | 76 | 109 | 198 | |
Total noninterest income | 5,973 | 5,102 | 11,174 | 10,353 | |
Noninterest Expense | |||||
Salaries and employee benefits | 7,410 | 7,475 | 14,900 | 15,335 | |
Occupancy expenses, net | 1,177 | 1,135 | 2,431 | 2,349 | |
Equipment expenses | 678 | 599 | 1,279 | 1,152 | |
Data processing and communication expenses | 1,055 | 1,093 | 2,138 | 2,386 | |
Bank franchise tax | 525 | 609 | 1,025 | 1,166 | |
Deposit insurance expense | 116 | 130 | 242 | 267 | |
Other real estate expenses, net | 522 | 326 | 639 | 400 | |
Other | 2,179 | 1,979 | 4,126 | 3,820 | |
Total noninterest expense | 13,662 | 13,346 | 26,780 | 26,875 | |
Income before income taxes | 7,150 | 6,204 | 13,951 | 10,809 | |
Income tax expense | 1,303 | 1,722 | 2,463 | 2,998 | |
Net income | $ 5,847 | $ 4,482 | $ 11,488 | $ 7,811 | |
Per Common Share | |||||
Net income – basic and diluted (in dollars per share) | $ 0.78 | $ 0.60 | $ 1.53 | $ 1.04 | |
Cash dividends declared (in dollars per share) | $ 0.125 | $ 0.10 | $ 0.25 | $ 0.20 | |
Weighted Average Common Shares Outstanding | |||||
Basic and diluted (in shares) | 7,520 | 7,512 | 7,519 | 7,511 | |
Deposit Account [Member] | |||||
Noninterest Income | |||||
Service charges, commissions, fees, and trust income | $ 1,897 | $ 2,012 | $ 3,809 | $ 3,970 | |
Allotment Processing Fees [Member] | |||||
Noninterest Income | |||||
Service charges, commissions, fees, and trust income | 677 | 651 | 1,397 | 1,366 | |
Financial Service, Other [Member] | |||||
Noninterest Income | |||||
Service charges, commissions, fees, and trust income | 1,490 | 1,328 | 2,862 | 2,700 | |
Fiduciary and Trust [Member] | |||||
Noninterest Income | |||||
Service charges, commissions, fees, and trust income | $ 695 | $ 626 | $ 1,484 | $ 1,330 | |
[1] | Not within the scope of ASC Topic 606. |
Unaudited Condensed Consolidat5
Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net income | $ 5,847 | $ 4,482 | $ 11,488 | $ 7,811 |
Other comprehensive (loss) income: | ||||
Unrealized holding (loss) gain on available for sale securities arising during the period, net of tax of $(294), $716, $(1,387) and $1,226, respectively | (1,112) | 1,329 | (5,214) | 2,277 |
Reclassification adjustment for net realized loss included in net income, net of tax of $-, $-, $- and $(3), respectively | 1 | 7 | ||
Change in unfunded portion of postretirement benefit obligation, net of tax of $-, $5, $- and $36, respectively | (1) | 9 | (2) | 68 |
Net current-period other comprehensive (loss) income | (1,113) | 1,339 | (5,216) | 2,352 |
Comprehensive income | $ 4,734 | $ 5,821 | $ 6,272 | $ 10,163 |
Unaudited Condensed Consolidat6
Unaudited Condensed Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Unrealized holding (loss) gain on available for sale securities arising during the period, tax | $ (294) | $ 716 | $ (1,387) | $ 1,226 |
Reclassification adjustment for net realized loss included in net income, tax | (3) | |||
Change in unfunded portion of postretirement benefit obligation, tax | $ 5 | $ 36 |
Unaudited Condensed Consolidat7
Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2016 | 7,509 | ||||
Beginning balance at Dec. 31, 2016 | $ 939 | $ 51,885 | $ 134,650 | $ (3,408) | $ 184,066 |
Net income | 7,811 | 7,811 | |||
Other comprehensive loss | 2,352 | 2,352 | |||
Cash dividends declared – common | (1,502) | (1,502) | |||
Shares issued under director compensation plan (in shares) | 1 | ||||
Shares issued under director compensation plan | 46 | 46 | |||
Shares issued pursuant to employee stock purchase plan (in shares) | 3 | ||||
Shares issued pursuant to employee stock purchase plan | 87 | 87 | |||
Expense related to employee stock purchase plan | 16 | 16 | |||
Balance (in shares) at Jun. 30, 2017 | 7,513 | ||||
Ending balance at Jun. 30, 2017 | $ 939 | 52,034 | 140,959 | (1,056) | 192,876 |
Beginning balance at Mar. 31, 2017 | (2,395) | ||||
Net income | 4,482 | ||||
Other comprehensive loss | 1,339 | 1,339 | |||
Balance (in shares) at Jun. 30, 2017 | 7,513 | ||||
Ending balance at Jun. 30, 2017 | $ 939 | 52,034 | 140,959 | (1,056) | 192,876 |
Adoption of Accounting Standards Update 2016-01 | |||||
Balance (in shares) at Dec. 31, 2017 | 7,517 | ||||
Beginning balance at Dec. 31, 2017 | $ 940 | 52,201 | 143,778 | (3,566) | 193,353 |
Net income | 11,488 | 11,488 | |||
Other comprehensive loss | (5,216) | (5,216) | |||
Cash dividends declared – common | (1,880) | (1,880) | |||
Shares issued under director compensation plan (in shares) | 1 | ||||
Shares issued under director compensation plan | 36 | 36 | |||
Shares issued pursuant to employee stock purchase plan (in shares) | 3 | ||||
Shares issued pursuant to employee stock purchase plan | 95 | 95 | |||
Expense related to employee stock purchase plan | 16 | 16 | |||
Balance (in shares) at Jun. 30, 2018 | 7,521 | ||||
Ending balance at Jun. 30, 2018 | $ 940 | 52,348 | 153,442 | (8,838) | 197,892 |
Beginning balance at Mar. 31, 2018 | (7,725) | ||||
Net income | 5,847 | ||||
Other comprehensive loss | (1,113) | (1,113) | |||
Balance (in shares) at Jun. 30, 2018 | 7,521 | ||||
Ending balance at Jun. 30, 2018 | $ 940 | 52,348 | 153,442 | (8,838) | 197,892 |
Adoption of Accounting Standards Update 2016-01 | $ 56 | $ (56) |
Unaudited Condensed Consolidat8
Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Retained Earnings [Member] | ||
Cash dividends declared – common (in dollars per share) | $ 0.25 | $ 0.20 |
Cash dividends declared – common (in dollars per share) | $ 0.25 | $ 0.20 |
Unaudited Condensed Consolidat9
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | ||
Cash Flows from Operating Activities | |||
Net income | $ 11,488 | $ 7,811 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 1,654 | 1,740 | |
Net premium amortization of investment securities: | |||
Provision for loan losses | (134) | 81 | |
Deferred income tax (benefit) expense | (16) | 18 | |
Mortgage loans originated for sale | (5,475) | (12,088) | |
Proceeds from sale of mortgage loans | 5,604 | 13,793 | |
Gain on sale of mortgage loans, net | [1] | (199) | (343) |
(Gain) loss on disposal of premises and equipment, net | (19) | 50 | |
Net loss on sale and write downs of other real estate | 571 | 278 | |
Net loss on sales of available for sale investment securities | [1] | 0 | 10 |
Net realized gain on sales of equity investment securities | [1] | (808) | 0 |
Unrealized loss on equity investment securities | 79 | 0 | |
Curtailment gain on postretirement benefits plan liability | 0 | (351) | |
Increase in cash surrender value of company-owned life insurance | (426) | (437) | |
Death benefits in excess of cash surrender value on company-owned life insurance | (67) | 0 | |
Decrease in accrued interest receivable | 138 | 312 | |
Decrease in other assets | 1,360 | 1,816 | |
Increase (decrease) in accrued interest payable | 135 | (42) | |
Decrease in other liabilities | (664) | (1,049) | |
Net cash provided by operating activities | 14,499 | 13,382 | |
Cash Flows from Investing Activities | |||
Proceeds from maturities and calls investment securities, Available for sale | 37,833 | 60,210 | |
Proceeds from maturities and calls investment securities, Held to maturity | 500 | 0 | |
Purchase of available for sale investment securities | (2,621) | (41,274) | |
Purchase of equity investment securities | (717) | (12) | |
Proceeds from cancelation of cost method investment securities | 239 | 666 | |
Purchase of cost method investment securities | 0 | (4,236) | |
Loans originated for investment greater than principal collected, net | (29,921) | (16,711) | |
Purchase of loans held for investment | (1,206) | (1,804) | |
Principal collected on purchased loans | 2,681 | 1,329 | |
Proceeds from death benefits of company-owned life insurance | 366 | 0 | |
Purchase of premises and equipment | (2,072) | (1,462) | |
Proceeds from sale of other real estate | 929 | 1,761 | |
Proceeds from disposal of premises and equipment | 35 | 0 | |
Net cash provided by (used in) investing activities | 6,046 | (1,533) | |
Cash Flows from Financing Activities | |||
Net decrease in deposits | (45,116) | (17,069) | |
Net decrease in short-term securities sold under agreements to repurchase | (468) | (3,548) | |
Proceeds from long-term securities sold under agreements to repurchase | 2 | 5 | |
Repayments of long-term securities sold under agreements to repurchase | (254) | (258) | |
Repayments of Federal Home Loan Bank advances | (87) | (5,084) | |
Dividends paid, common stock | (1,879) | (1,502) | |
Shares issued under employee stock purchase plan | 95 | 87 | |
Net cash used in financing activities | (47,707) | (27,369) | |
Net decrease in cash and cash equivalents | (27,162) | (15,520) | |
Cash and cash equivalents at beginning of year | 120,408 | 113,534 | |
Cash and cash equivalents at end of period | 93,246 | 98,014 | |
Supplemental Disclosures | |||
Cash paid during the period for Interest | 1,718 | 1,839 | |
Cash paid during the period for Income Taxes | 2,150 | 1,835 | |
Transfers from loans to other real estate | 0 | 339 | |
Sale and financing of other real estate | 84 | 2,792 | |
Cash dividends payable, common | 940 | 751 | |
Employee Stock Purchase Plan Expense [Member] | |||
Net premium amortization of investment securities: | |||
Noncash compensation expense | 16 | 16 | |
Director Fee Compensation [Member] | |||
Net premium amortization of investment securities: | |||
Noncash compensation expense | 36 | 46 | |
Available-for-sale Securities [Member] | |||
Net premium amortization of investment securities: | |||
Net premium amortization of investment securities | 1,199 | 1,694 | |
Held-to-maturity Securities [Member] | |||
Net premium amortization of investment securities: | |||
Net premium amortization of investment securities | $ 27 | $ 27 | |
[1] | Not within the scope of ASC Topic 606. |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Nature of Operations | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Basis of Presentation and Nature of Operations The condensed consolidated financial statements include the accounts of Farmers Capital Bank Corporation (the “Company” or “Parent Company”), a financial holding company, and its wholly owned subsidiaries. The Company has one one FFKT Insurance is a captive insurance company that provides property and casualty coverage to the Parent Company and its subsidiaries for risk management purposes or where insurance may not two not United Bank’s significant subsidiaries include EG Properties, Inc. and Farmers Capital Insurance Corporation (“Farmers Insurance”). EG Properties, Inc. is involved in real estate management and liquidation for certain repossessed properties of United Bank. Farmers Insurance is an insurance agency in Frankfort, KY. The Company provides financial services at its 34 21 not The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. Estimates used in the preparation of the condensed financial statements are based on various factors including the current interest rate environment and the general strength of the local and state economy. Changes in the overall interest rate environment can significantly affect the Company’s net interest income and the value of its recorded assets and liabilities. Actual results could differ from those estimates used in the preparation of the condensed financial statements. The allowance for loan losses, carrying value of other real estate owned, actuarial assumptions used to calculate postretirement benefits, and the fair values of financial instruments are estimates that are particularly subject to change. The consolidated balance sheet as of December 31, 2017 December 31, 2017 10 10 10 01 X not not |
Note 2 - Reclassifications
Note 2 - Reclassifications | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | 2 . Reclassifications Certain reclassifications have been made to the condensed consolidated financial statements of prior periods to conform to the current period presentation. These reclassifications do not |
Note 3 - Accumulated Other Comp
Note 3 - Accumulated Other Comprehensive (Loss) Income | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 3 . Accumulated Other Comprehensive (Loss) Income The following table presents changes in accumulated other comprehensive (loss) income (“AOCI”) by component, net of tax, for the periods indicated. The table for the six $56 2016 01 January 1, 2018. 2016 01 2018, 2016 01 4 7. Three Months Ended June 30, 2018 2017 (In thousands) Unrealized Gains (Losses) on Available for Sale Investment Securities Postretirement Benefit Obligation Total Unrealized Gains (Losses) on Available for Sale Investment Securities Postretirement Benefit Obligation Total Beginning balance $ (7,668 ) $ (57 ) $ (7,725 ) $ (2,409 ) $ 14 $ (2,395 ) Other comprehensive (loss) income before reclassifications (1,112 ) - (1,112 ) 1,329 8 1,337 Amounts reclassified from accumulated other comprehensive income - (1 ) (1 ) 1 1 2 Net current-period other comprehensive (loss) income (1,112 ) (1 ) (1,113 ) 1,330 9 1,339 Ending balance $ (8,780 ) $ (58 ) $ (8,838 ) $ (1,079 ) $ 23 $ (1,056 ) Six Months Ended June 30, 2018 2017 (In thousands) Unrealized Gains (Losses) on Available for Sale Investment Securities Postretirement Benefit Obligation Total Unrealized Gains (Losses) on Available for Sale Investment Securities Postretirement Benefit Obligation Total Beginning balance $ (3,510 ) $ (56 ) $ (3,566 ) $ (3,363 ) $ (45 ) $ (3,408 ) Other comprehensive (loss) income before reclassifications (5,214 ) - (5,214 ) 2,277 17 2,294 Amounts reclassified from accumulated other comprehensive income - (2 ) (2 ) 7 51 58 Net current-period other comprehensive (loss) income (5,214 ) (2 ) (5,216 ) 2,284 68 2,352 Adoption of Accounting Standards Update 2016-01 (56 ) - (56 ) - - - Ending balance $ (8,780 ) $ (58 ) $ (8,838 ) $ (1,079 ) $ 23 $ (1,056 ) The following table presents amounts reclassified out of accumulated other comprehensive income by component for the periods indicated. Line items in the statement of income affected by the reclassification are also presented. Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Unrealized gains (losses) on available for sale investment securities $ - $ (1 ) $ - $ (10 ) Net loss on sales of available for sale investment securities - - - 3 Income tax expense $ - $ (1 ) $ - $ (7 ) Net of tax Amortization related to postretirement benefits Prior service costs $ - $ - $ - $ (75 ) Salaries and employee benefits Actuarial gains (losses) 1 (2 ) 2 (3 ) Other noninterest expense 1 (2 ) 2 (78 ) Total before tax - 1 - 27 Income tax expense $ 1 $ (1 ) $ 2 $ (51 ) Net of tax Total reclassifications for the period $ 1 $ (2 ) $ 2 $ (58 ) Net of tax |
Note 4 - Accounting Policy
Note 4 - Accounting Policy | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 4 . Accounting Policy Loans and Interest Income Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at their unpaid principal amount outstanding adjusted for any charge-offs, deferred fees or costs on originated loans, and unamortized premiums and discounts on purchased loans. Interest income on loans is recognized using the interest method based on loan principal amounts outstanding during the period. Interest income also includes amortization and accretion of any premiums or discounts over the expected life of acquired loans at the time of purchase or business acquisition. Loan origination fees, net of certain direct origination costs, are deferred and amortized as yield adjustments over the contractual term of the loans. The Company disaggregates certain disclosure information related to loans, the related allowance for loan losses, and credit quality measures by either portfolio segment or by loan class. The Company segregates its loan portfolio segments based on similar risk characteristics as follows: real estate loans, commercial loans, and consumer loans. Portfolio segments are further disaggregated into classes for certain required disclosures as follows: Portfolio Segment Class Real estate loans Real estate mortgage – construction and land development Real estate mortgage – residential Real estate mortgage – farmland and other commercial enterprises Commercial loans Commercial and industrial Depository institutions Agriculture production and other loans to farmers States and political subdivisions Other Consumer loans Secured Unsecured The Company has a loan policy in place that is amended and approved from time to time as needed to reflect current economic conditions and product offerings in its markets. The policy establishes written procedures concerning areas such as the lending authorities of loan officers, committee review and approval of certain credit requests, underwriting criteria, policy exceptions, appraisal requirements, and loan review. Credit is extended to borrowers based primarily on their ability to repay as demonstrated by income and cash flow analysis. Loans secured by real estate make up the largest segment of the Company’s loan portfolio. If a borrower fails to repay a loan secured by real estate, the Company may third Commercial loans are made to businesses and are secured mainly by assets such as inventory, accounts receivable, machinery, fixtures and equipment, or other business assets. Commercial lending involves significant risk, as loan repayments are more dependent on the successful operation or management of the business and its cash flows. Consumer lending includes loans to individuals mainly for personal autos, boats, or a variety of other personal uses and may The accrual of interest on loans is discontinued when it is determined that the collection of interest or principal is doubtful, or when a default of interest or principal has existed for 90 not not Commercial and real estate loans delinquent in excess of 120 180 not Provision and Allowance for Loan Losses The provision for loan losses represents charges or credits made to earnings to maintain an allowance for loan losses at a level considered adequate to provide for probable incurred credit losses at the balance sheet date. The allowance for loan losses is a valuation allowance increased by the provision for loan losses and decreased by net charge-offs. Loan losses are charged against the allowance when management believes the uncollectibility of a loan is confirmed. Subsequent recoveries, if any, are credited to the allowance. The Company estimates the adequacy of the allowance using a risk-rated methodology which is based on the Company’s past loan loss experience, known and inherent risks in the loan portfolio, adverse situations that may may The allowance for loan losses consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current risk factors. Allocations of the allowance may The general portion of the Company’s loan portfolio is segregated into portfolio segments having similar risk characteristics identified as follows: real estate loans, commercial loans, and consumer loans. Each of these portfolio segments is assigned a loss percentage based on their respective twelve The qualitative risk factors used in the methodology are consistent with the guidance in the most recent Interagency Policy Statement on the Allowance for Loan Losses issued. Each factor is supported by a detailed analysis and is both measurable and supportable. Some factors include a minimum allocation in instances where loss levels are extremely low and it is determined to be prudent from a safety and soundness perspective. Qualitative risk factors that are used in the methodology include the following for each loan portfolio segment: ● Delinquency trends ● Trends in net charge-offs ● Trends in loan volume ● Lending philosophy risk ● Management experience risk ● Concentration of credit risk ● Economic conditions risk A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not The Company accounts for impaired loans in accordance with Accounting Standards Codification (“ASC”) Topic 310, “Receivables . ” 310 may Adoption of New Accounting Standards In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 2015, 2016, 2017. No. 2014 09 The majority of the Company’s revenues earned are excluded from the scope of the new standard. Revenue streams within the scope of this ASU include services charges and fees on deposits, allotment processing fees, trust income, and certain components of other service charges, commission, and fees. The Company has analyzed each revenue stream under Topic 606 no No. 2014 09 January 1, 2018 no 5. In January 2016, No. 2016 01, Financial Instruments – Overall (Subtopic 825 10 February 2018, December 15, 2017, No. 2016 01 January 1, 2018, $56 3 7. 13. In March 2017, No. 2017 07, Compensation—Retirement Benefits (Topic 715 715 not 2017 07 January 1, 2018, not In February 2018, No. 2018 02, Income Statement—Reporting Comprehensive Income (Topic 220 December 2017, December 15, 2018, $633 December 31, 2017. no Recently Issued Accounting Standards In February 2016, No. 2016 02, “Leases (Topic 842 twelve 606, Revenue from Contracts with Customers For public companies, ASU No. 2016 02 December 15, 2018, not may not No. 2016 02 In June 2016, No. 2016 13, “ Financial Instruments—Credit Losses (Topic 326 , ” ASU No. 2016 13 December 15, 2019. December 15, 2018, not third third Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not |
Note 5 - Revenue From Contracts
Note 5 - Revenue From Contracts With Customers | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 5 . Revenue From Contracts With Customers The Company records revenue from contracts with customers in accordance with ASC Topic 606, Revenue from Contracts with Customers . 606 606 three six June 30, 2018 2017. 606 Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Service charges and fees on deposits Overdraft fees $ 968 $ 969 $ 1,924 $ 1,896 Dormant account fees 574 659 1,167 1,324 Service charges on checking and savings accounts 304 328 618 638 Other 51 56 100 112 Allotment processing fees 677 651 1,397 1,366 Other service charges, commissions, and fees Interchange fees 917 808 1,744 1,589 Other 1 573 520 1,118 1,111 Trust income 695 626 1,484 1,330 Net loss on sales of available for sale investment securities 2 - (1 ) - (10 ) Net gain on sales of equity investment securities 2 808 - 808 - Gain on sale of mortgage loans, net 2 104 189 199 343 Income from company-owned life insurance 2 213 221 506 456 Other 89 76 109 198 Total noninterest income $ 5,973 $ 5,102 $ 11,174 $ 10,353 1 $147 $139 three June 30, 2018 2017, $289 $272 six June 30, 2018 2017, not 606. 2 Not 606. Net other real estate expenses include a net loss on the sale of OREO of $33 $43 three June 30, 2018 2017, $76 $72 six June 30, 2018 2017, A description of the Company’s revenue-generating activities accounted for under Topic 606 Service charges and fees on deposits consist primarily of overdraft fees, dormant account fees, and service charges on checking and savings accounts. Overdraft fees are recognized at the time an account is overdrawn. Dormant account fees are recognized when an account is inactive for 365 Allotment processing fees relate to the Company’s bill payment and electronic funds transfer (“EFT”) services provided under the name of FirstNet. The Company processes payments by individual customers to unaffiliated third not Other service charges, commissions, and fees include interchange fees earned primarily from debit card holder transactions conducted through the VISA payment network and other networks. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are received and recognized daily, concurrent with the transaction processing services provided to the cardholder. Trust income is earned from living trusts and investment management agency accounts, estate planning and estate settlement, custody accounts, individual retirement accounts, and other related services. These fees are primarily earned and accrued over the period of time the Company provides the contracted services and are generally assessed based on tiered scale of the market value of the assets of the accounts. Fees for other services, including the preparation of fiduciary income tax returns, are recognized when the services are rendered. Fees are generally paid out of the assets held in the customer’s account. |
Note 6 - Net Income Per Common
Note 6 - Net Income Per Common Share | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 6 . Net Income Per Common Share Basic net income per common share is determined by dividing net income by the weighted average total number of common shares issued and outstanding. There were no June 30, 2018 2017. Net income per common share computations were as follows for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share data) 2018 2017 2018 2017 Net income, basic and diluted $ 5,847 $ 4,482 $ 11,488 $ 7,811 Average common shares issued and outstanding, basic and diluted 7,520 7,512 7,519 7,511 Net income per common share, basic and diluted $ .78 $ .60 $ 1.53 $ 1.04 |
Note 7 - Investment Securities
Note 7 - Investment Securities | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7 . Investment Securities Equity Securities Equity securities consist of money market mutual funds classified as cash and cash equivalents on the balance sheet and mutual funds and equity securities in the investment portfolio of the Company’s captive insurance subsidiary. Money market mutual funds were $38.0 $36.7 June 30, 2018 December 31, 2017, $1.6 $935 June 30, 2018 December 31, 2017, Effective January 1, 2018, 2016 01, 2018, December 31, 2017, $56 2018, three six June 30, 2018, $24 $79 June 30, 2018, 2018 $808 7,672 no no no Debt Securities The Company’s debt securities are classified as available for sale or held to maturity. The following tables summarize the amortized costs and estimated fair value of the Company’s debt securities at June 30, 2018 December 31, 2017. June 30, 2018 (In thousands) Amortized Gross Unrealized Gross Unrealized Estimated Available For Sale Obligations of U.S. government-sponsored entities $ 34,676 $ 5 $ 857 $ 33,824 Obligations of states and political subdivisions 105,616 263 2,450 103,429 Mortgage-backed securities – residential 178,426 242 5,830 172,838 Mortgage-backed securities – commercial 49,387 - 2,478 46,909 Asset-backed securities 15,493 32 26 15,499 Corporate debt securities 7,495 22 37 7,480 Total securities – available for sale $ 391,093 $ 564 $ 11,678 $ 379,979 Held To Maturity Obligations of states and political subdivisions $ 2,837 $ 31 $ - $ 2,868 December 31, 2017 (In thousands) Amortized Gross Unrealized Gross Unrealized Estimated Available For Sale Obligations of U.S. government-sponsored entities $ 43,601 $ 44 $ 437 $ 43,208 Obligations of states and political subdivisions 114,960 562 1,273 114,249 Mortgage-backed securities – residential 195,605 523 2,735 193,393 Mortgage-backed securities – commercial 50,518 42 1,208 49,352 Asset-backed securities 15,569 9 4 15,574 Corporate debt securities 7,578 1 37 7,542 Total securities – available for sale $ 427,831 $ 1,181 $ 5,694 $ 423,318 Held To Maturity Obligations of states and political subdivisions $ 3,364 $ 114 $ - $ 3,478 Debt securities with a carrying value of $207 $214 June 30, 2018 December 31, 2017, The amortized cost and estimated fair value of the debt securities portfolio at June 30, 2018, may may not Available For Sale Held To Maturity Amortized Estimated Amortized Estimated June 30, 2018 (In thousands) Cost Fair Value Cost Fair Value Due in one year or less $ 19,847 $ 19,828 $ - $ - Due after one year through five years 53,443 52,717 - - Due after five years through ten years 51,363 49,493 732 748 Due after ten years 38,627 38,194 2,105 2,120 Mortgage-backed securities 227,813 219,747 - - Total $ 391,093 $ 379,979 $ 2,837 $ 2,868 Gross realized gains and losses on the sale of available for sale debt securities are presented in the table below for the periods indicated. Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2018 2017 2018 2017 Gross realized gains $ - $ - $ - $ - Gross realized losses - 1 - 10 Net realized loss $ - $ (1 ) $ - $ (10 ) Debt securities with unrealized losses at June 30, 2018 December 31, 2017 not twelve twelve Less than 12 Months 12 Months or More Total June 30, 2018 (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of U.S. government-sponsored entities $ 10,175 $ 282 $ 22,987 $ 575 $ 33,162 $ 857 Obligations of states and political subdivisions 50,261 1,051 33,147 1,399 83,408 2,450 Mortgage-backed securities – residential 74,287 2,010 90,087 3,820 164,374 5,830 Mortgage-backed securities – commercial 14,509 611 32,400 1,867 46,909 2,478 Asset-backed securities 3,729 26 - - 3,729 26 Corporate debt securities 3,102 34 248 3 3,350 37 Total $ 156,063 $ 4,014 $ 178,869 $ 7,664 $ 334,932 $ 11,678 Less than 12 Months 12 Months or More Total December 31, 2017 (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of U.S. government-sponsored entities $ 11,544 $ 43 $ 25,298 $ 394 $ 36,842 $ 437 Obligations of states and political subdivisions 40,402 413 33,965 860 74,367 1,273 Mortgage-backed securities – residential 77,312 481 99,986 2,254 177,298 2,735 Mortgage-backed securities – commercial 7,758 62 34,139 1,146 41,897 1,208 Asset-backed securities 1,166 4 - - 1,166 4 Corporate debt securities 7,251 36 200 1 7,451 37 Total $ 145,433 $ 1,039 $ 193,588 $ 4,655 $ 339,021 $ 5,694 Unrealized losses included in the tables above have not 1 2 3 4 not The Company attributes the unrealized losses in its debt securities portfolio to changes in market interest rates and volatility. Debt securities with unrealized losses at June 30, 2018 December 31, 2017 not not not |
Note 8 - Loans and Allowance fo
Note 8 - Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | 8 . Loans and Allowance for Loan Losses Major classifications of loans outstanding are summarized as follows: (In thousands) June 30, December 31, Real Estate Real estate mortgage – construction and land development $ 128,183 $ 129,181 Real estate mortgage – residential 350,778 355,304 Real estate mortgage – farmland and other commercial enterprises 457,014 432,321 Commercial Commercial and industrial 87,224 63,417 States and political subdivisions 17,686 27,209 Other 16,068 19,916 Consumer Secured 4,215 4,853 Unsecured 3,047 3,062 Total loans 1,064,215 1,035,263 Less unearned income - - Total loans, net of unearned income $ 1,064,215 $ 1,035,263 Activity in the allowance for loan losses by portfolio segment was as follows for the periods indicated: (In thousands) Real Estate Commercial Consumer Total Three months ended June 30, 201 8 Balance, beginning of period $ 8,601 $ 836 $ 311 $ 9,748 Provision for loan losses (148 ) 296 (21 ) 127 Recoveries 264 17 13 294 Loans charged off (88 ) (65 ) (15 ) (168 ) Balance, end of period $ 8,629 $ 1,084 $ 288 $ 10,001 Six months ended June 30, 201 8 Balance, beginning of period $ 8,509 $ 951 $ 323 $ 9,783 Provision for loan losses (339 ) 249 (44 ) (134 ) Recoveries 605 37 40 682 Loans charged off (146 ) (153 ) (31 ) (330 ) Balance, end of period $ 8,629 $ 1,084 $ 288 $ 10,001 (In thousands) Real Estate Commercial Consumer Total Three months ended June 30, 2017 Balance, beginning of period $ 8,184 $ 864 $ 459 $ 9,507 Provision for loan losses (546 ) 135 (88 ) (499 ) Recoveries 398 17 8 423 Loans charged off (75 ) (116 ) (18 ) (209 ) Balance, end of period $ 7,961 $ 900 $ 361 $ 9,222 Six months ended June 30, 2017 Balance, beginning of period $ 8,205 $ 854 $ 285 $ 9,344 Provision for loan losses (150 ) 128 103 81 Recoveries 415 66 19 500 Loans charged off (509 ) (148 ) (46 ) (703 ) Balance, end of period $ 7,961 $ 900 $ 361 $ 9,222 The following tables present individually impaired loans by class of loans for the dates indicated. Unpaid Balance Recorded With No Allowance Recorded With Allowance Total Recorded Investment Allowance for Real Estate Real estate mortgage – construction and land development $ 3,397 $ 1,428 $ 1,594 $ 3,022 $ 323 Real estate mortgage – residential 9,952 3,079 6,871 9,950 2,018 Real estate mortgage – farmland and other commercial enterprises 8,614 2,147 6,299 8,446 295 Commercial Commercial and industrial 383 - 383 383 211 Other 3 - 3 3 3 Consumer Unsecured 285 - 285 285 192 Total $ 22,634 $ 6,654 $ 15,435 $ 22,089 $ 3,042 Unpaid Balance Recorded With No Allowance Recorded With Allowance Total Recorded Investment Allowance for Allocated Real Estate Real estate mortgage – construction and land development $ 4,076 $ 1,746 $ 1,955 $ 3,701 $ 402 Real estate mortgage – residential 10,112 3,233 6,877 10,110 1,973 Real estate mortgage – farmland and other commercial enterprises 8,737 2,203 6,367 8,570 319 Commercial Commercial and industrial 448 - 448 448 270 Consumer Unsecured 312 - 312 312 218 Total $ 23,685 $ 7,182 $ 15,959 $ 23,141 $ 3,182 Three Months Ended June 30, 2018 2017 (In thousands) Average Interest Income Recognized Cash Basis Interest Recognized Average Interest Income Recognized Cash Basis Interest Recognized Real Estate Real estate mortgage – construction and land development $ 3,463 $ 44 $ 44 $ 4,216 $ 58 $ 58 Real estate mortgage – residential 10,122 137 135 11,080 136 134 Real estate mortgage – farmland and other commercial enterprises 8,835 97 95 24,108 296 296 Commercial Commercial and industrial 389 5 5 409 4 4 Other 4 - - 26 - - Consumer Unsecured 306 5 5 325 4 4 Total $ 23,119 $ 288 $ 284 $ 40,164 $ 498 $ 496 Six Months Ended June 30, 2018 2017 (In thousands) Average Interest Income Recognized Cash Basis Interest Recognized Average Interest Income Recognized Cash Basis Interest Recognized Real Estate Real estate mortgage – construction and land development $ 3,539 $ 90 $ 88 $ 5,226 $ 134 $ 133 Real estate mortgage – residential 10,232 273 267 10,395 254 251 Real estate mortgage – farmland and other commercial enterprises 8,861 197 192 24,098 598 592 Commercial Commercial and industrial 391 10 10 454 11 11 Other 2 - - 13 - - Consumer Unsecured 313 9 9 330 9 8 Total $ 23,338 $ 579 $ 566 $ 40,516 $ 1,006 $ 995 The following tables present the balance of the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of June 30, 2018 December 31, 2017. June 30, 2018 (In thousands) Real Estate Commercial Consumer Total Allowance for Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 2,636 $ 214 $ 192 $ 3,042 Collectively evaluated for impairment 5,993 870 96 6,959 Total ending allowance balance $ 8,629 $ 1,084 $ 288 $ 10,001 Loans Loans individually evaluated for impairment $ 21,418 $ 386 $ 285 $ 22,089 Loans collectively evaluated for impairment 914,557 120,592 6,977 1,042,126 Total ending loan balance, net of unearned income $ 935,975 $ 120,978 $ 7,262 $ 1,064,215 December 31, 2017 (In thousands) Real Estate Commercial Consumer Total Allowance for Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 2,694 $ 270 $ 218 $ 3,182 Collectively evaluated for impairment 5,815 681 105 6,601 Total ending allowance balance $ 8,509 $ 951 $ 323 $ 9,783 Loans Loans individually evaluated for impairment $ 22,381 $ 448 $ 312 $ 23,141 Loans collectively evaluated for impairment 894,425 110,094 7,603 1,012,122 Total ending loan balance, net of unearned income $ 916,806 $ 110,542 $ 7,915 $ 1,035,263 The following tables present the recorded investment in nonperforming loans by class of loans as of June 30, 2018 December 31, 2017. June 30, 2018 (In thousands) Nonaccrual Restructured Loans Loans Past Due 90 Days or More and Still Accruing Real Estate Real estate mortgage – construction and land development $ 149 $ 1,595 $ - Real estate mortgage – residential 1,441 5,618 - Real estate mortgage – farmland and other commercial enterprises 2,355 3,660 - Commercial Commercial and industrial 11 367 - Consumer Unsecured 146 125 - Total $ 4,102 $ 11,365 $ - December 31, 2017 (In thousands) Nonaccrual Restructured Loans Loans Past Due 90 Days or More and Still Accruing Real Estate Real estate mortgage – construction and land development $ 151 $ 1,955 $ - Real estate mortgage – residential 1,763 5,326 - Real estate mortgage – farmland and other commercial enterprises 1,752 3,703 - Commercial Commercial and industrial 53 370 - Consumer Unsecured 168 128 - Total $ 3,887 $ 11,482 $ - The Company has allocated $1.7 $1.8 June 30, 2018 December 31, 2017, no June 30, 2018 December 31, 2017. no first six 2018 2017 The tables below present an age analysis of past due loans 30 June 30, 2018 (In thousands) 30-89 Days Past Due 90 Days or More Past Due Total Current Total Loans Real Estate Real estate mortgage – construction and land development $ 15 $ 87 $ 102 $ 128,081 $ 128,183 Real estate mortgage – residential 630 240 870 349,908 350,778 Real estate mortgage – farmland and other commercial enterprises 496 1,621 2,117 454,897 457,014 Commercial Commercial and industrial - - - 87,224 87,224 States and political subdivisions - - - 17,686 17,686 Other - - - 16,068 16,068 Consumer Secured - - - 4,215 4,215 Unsecured 6 - 6 3,041 3,047 Total $ 1,147 $ 1,948 $ 3,095 $ 1,061,120 $ 1,064,215 December 31, 2017 (In thousands) 30-89 Days Past Due 90 Days or More Past Due Total Current Total Loans Real Estate Real estate mortgage – construction and land development $ 15 $ 87 $ 102 $ 129,079 $ 129,181 Real estate mortgage – residential 1,160 538 1,698 353,606 355,304 Real estate mortgage – farmland and other commercial enterprises 966 948 1,914 430,407 432,321 Commercial Commercial and industrial 62 - 62 63,355 63,417 States and political subdivisions - - - 27,209 27,209 Other 21 - 21 19,895 19,916 Consumer Secured - - - 4,853 4,853 Unsecured 9 - 9 3,053 3,062 Total $ 2,233 $ 1,573 $ 3,806 $ 1,031,457 $ 1,035,263 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 and conditions. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes large-balance loans and non-homogeneous loans, such as commercial real estate and certain residential real estate loans. Loan rating grades, as described further below, are assigned based on a continuous process. The amount and adequacy of the allowance for loan loss is determined on a quarterly basis. The Company uses the following definitions for its risk ratings: Special Mention. may not Substandard. not Doubtful. Loans not Real Estate Commercial June 30, 2018 Real Estate Mortgage – Construction and Land Development Real Estate Mortgage – Residential Real Estate Mortgage – Farmland and Other Commercial Enterprises Commercial and Industrial States and Political Subdivisions Other Credit risk profile by internally assigned rating grades Pass $ 124,342 $ 326,533 $ 440,095 $ 86,390 $ 17,686 $ 16,051 Special Mention 668 8,975 6,216 448 - 14 Substandard 3,173 15,270 10,703 386 - 3 Doubtful - - - - - - Total $ 128,183 $ 350,778 $ 457,014 $ 87,224 $ 17,686 $ 16,068 Real Estate Commercial December 31, 2017 Real Estate Mortgage – Construction and Land Development Real Estate Mortgage – Residential Real Estate Mortgage – Farmland and Other Commercial Enterprises Commercial and Industrial States and Political Subdivisions Other Credit risk profile by internally assigned rating grades Pass $ 124,926 $ 330,401 $ 414,663 $ 62,490 $ 27,209 $ 19,898 Special Mention 396 9,196 7,556 474 - 18 Substandard 3,859 15,707 10,102 453 - - Doubtful - - - - - - Total $ 129,181 $ 355,304 $ 432,321 $ 63,417 $ 27,209 $ 19,916 The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For consumer loan classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the consumer loans outstanding based on payment activity as of June 30, 2018 December 31, 2017. June 30, 2018 December 31, 2017 Consumer Consumer (In thousands) Secured Unsecured Secured Unsecured Credit risk profile based on payment activity Performing $ 4,215 $ 2,776 $ 4,853 $ 2,766 Nonperforming - 271 - 296 Total $ 4,215 $ 3,047 $ 4,853 $ 3,062 |
Note 9 - Other Real Estate Owne
Note 9 - Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | 9 . Other Real Estate Owned Other real estate owned (“OREO”) was as follows for the dates indicated: (In thousands) June 30, 2018 December 31, 2017 Construction and land development $ 3,050 $ 4,433 Residential real estate - 157 Farmland and other commercial enterprises 981 899 Total $ 4,031 $ 5,489 OREO activity for the six June 30, 2018 2017 Six months ended June 30, (In thousands) 2018 2017 Beginning balance $ 5,489 $ 10,673 Transfers from loans and other increases 126 345 Proceeds from sales (1,013 ) (4,553 ) (Loss) gain on sales, net (76 ) 72 Write downs and other decreases, net (495 ) (350 ) Ending balance $ 4,031 $ 6,187 At June 30, 2018, $601 |
Note 10 - Securities Sold Under
Note 10 - Securities Sold Under Agreements to Repurchase | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 10 . Securities Sold under Agreements to Repurchase Securities sold under agreements to repurchase represent transactions where the Company sells certain of its investment securities and agrees to repurchase them at a specific date in the future. Securities sold under agreements to repurchase are accounted for as secured borrowings and reflect the amount of cash received in connection with the transaction. Securities sold under agreements to repurchase are collateralized by U.S. government agency securities, primarily mortgage-backed securities. The Company may The following tables represent the remaining maturity of repurchase agreements disaggregated by the class of securities pledged as of the dates indicated. Remaining Contractual Maturity of the Agreements June 30, 2018 (In thousands) Overnight/ Continuous Less Than 30 Days 30-89 90 Days to One Year Over One Year to Three Years Total Mortgage-backed securities – residential $ 31,873 $ 1,400 $ - $ 259 $ - $ 33,532 Total $ 31,873 $ 1,400 $ - $ 259 $ - $ 33,532 Remaining Contractual Maturity of the Agreements December 31, 2017 (In thousands) Overnight/ Continuous Less Than 30 Days 30-89 90 Days to One Year Over One Year to Three Years Total Mortgage-backed securities – residential $ 32,341 $ 1,200 $ - $ 454 $ 257 $ 34,252 Total $ 32,341 $ 1,200 $ - $ 454 $ 257 $ 34,252 |
Note 11 - Postretirement Medica
Note 11 - Postretirement Medical Benefits | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 1 1 . Postretirement Medical Benefits The Company provides lifetime medical and dental benefits upon retirement for certain employees meeting the eligibility requirements as of December 31, 1989 ( 1” not 1 2003, 2” 2, 20 55 not 100% 1. 50% 2. January 1, 2016 not 2. The following disclosures of the net periodic benefit cost components of Plan 1 2 January 1, 2018 2017. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Service cost $ 141 $ 137 $ 281 $ 283 Interest cost 152 164 305 332 Curtailment gain recognized - - - (351 ) Recognized prior service cost - - - 8 Net periodic benefit cost $ 293 $ 301 $ 586 $ 272 Service costs and recognized prior service costs are recorded as a component of salaries and employee benefits with the remaining portion of net periodic benefit cost recorded in other noninterest expense on the Company’s unaudited condensed consolidated statements of income. In connection with the merger of certain of its subsidiaries in February 2017, $417 $66 $351 first 2017. The Company expects benefit payments of $459 2018, $98 $194 three six June 30, 2018, |
Note 12 - Regulatory Matters
Note 12 - Regulatory Matters | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 1 2 . Regulatory Matters The Company and its subsidiary bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements will initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, banks must meet specific capital guidelines that involve quantitative measures of the bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company and its subsidiary bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The regulatory ratios of the consolidated Company and its subsidiary bank were as follows for the dates indicated: June 30, 2018 December 31, 2017 Common Equity Tier 1 Risk-based Capital 1 Tier 1 Risk- based Capital 1 Total based Capital 1 Tier 1 Leverage 2 Common Equity Tier 1 Risk-based Capital 1 Tier 1 based Capital 1 Total based 1 Tier 1 Leverage 2 Consolidated 17.13 % 19.82 % 20.65 % 14.41 % 16.56 % 19.30 % 20.12 % 13.75 % United Bank 14.48 14.48 15.32 10.65 14.05 14.05 14.88 10.13 Regulatory minimum 4.50 6.00 8.00 4.00 4.50 6.00 8.00 4.00 Well-capitalized status 6.50 8.00 10.00 5.00 6.50 8.00 10.00 5.00 1 1 1 1, 1 2 1 1 |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 1 3 . Fair Value Measurements ASC Topic 820, “Fair Value Measurements and Disclosures , ” 825, “Financial Instruments , ” not ASC Topic 820 three may Level 1: Quoted prices for identical assets or liabilities in active markets that the entity has the ability to access at the measurement date. Level 2: Significant other observable inputs other than Level 1 not Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions supported by little or no Following is a description of the valuation method used for financial instruments measured at fair value on a recurring basis. For this disclosure, the Company only has available for sale debt securities, equity securities, and money market mutual funds classified as cash equivalents that meet the requirement. The carrying value of the $38.0 $36.7 June 30, 2018 December 31, 2017, 1 Available for sale debt securities and equity securities Valued primarily by independent third not ● Mutual funds and equity securities are priced utilizing real-time data feeds from active market exchanges for identical securities and are considered Level 1 ● Government-sponsored agency debt securities, obligations of states and political subdivisions, mortgage-backed securities, corporate bonds, and other similar investment securities are priced with available market information through processes using benchmark yields, matrix pricing, prepayment speeds, cash flows, live trading data, and market spreads sourced from new issues, dealer quotes, and trade prices, among others sources and are considered Level 2 Fair value disclosure for available for sale debt securities and equity securities classified as investments on the balance sheet as of June 30, 2018 December 31, 2017 Fair Value Measurements Using (In thousands) June 3 0 , 2018 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Available For Sale Securities Obligations of U.S. government-sponsored entities $ 33,824 $ - $ 33,824 $ - Obligations of states and political subdivisions 103,429 - 103,429 - Mortgage-backed securities – residential 172,838 - 172,838 - Mortgage-backed securities – commercial 46,909 - 46,909 - Asset-backed securities 15,499 - 15,499 - Corporate debt securities 7,480 - 7,480 - Total available for sale securities $ 379,979 $ - $ 379,979 $ - Equity Securities Mutual funds and equity securities $ 1,573 $ 1,573 $ - $ - December 31, 2017 Available For Sale Securities Obligations of U.S. government-sponsored entities $ 43,208 $ - $ 43,208 $ - Obligations of states and political subdivisions 114,249 - 114,249 - Mortgage-backed securities – residential 193,393 - 193,393 - Mortgage-backed securities – commercial 49,352 - 49,352 - Asset-backed securities 15,574 - 15,574 - Corporate debt securities 7,542 - 7,542 - Total available for sale securities $ 423,318 $ - $ 423,318 $ - Equity Securities Mutual funds and equity securities $ 935 $ 935 $ - $ - The Company is required to measure and disclose certain other assets and liabilities at fair value on a nonrecurring basis in periods following their initial recognition. The Company’s disclosure about assets and liabilities measured at fair value on a nonrecurring basis consists of collateral-dependent impaired loans and OREO. Adjustments to the fair value of collateral-dependent loans are recorded by either direct loan charge-offs through the allowance for loan losses or an adjustment to the specific reserve through an increase or decrease to the provision for loan losses. The fair value of collateral-dependent impaired loans with specific allocations of the allowance for loan losses is measured based on recent appraisals of the underlying collateral. These appraisals may not 3 OREO includes properties acquired by the Company through, or in lieu of, actual loan foreclosures and is carried at fair value less estimated costs to sell. Fair value of OREO at acquisition is generally based on third 3 The following table represents the carrying amount of assets measured at fair value on a nonrecurring basis and still held by the Company as of the dates indicated. The amounts in the table only represent assets whose carrying amount has been adjusted during the period in a manner as described above; therefore, these amounts will differ from the total amounts outstanding. With the exception of those calculated using the collateral valuation method, collateral-dependent impaired loan amounts in the tables below exclude restructured loans that are measured based on present value techniques, which are outside the scope of the fair value reporting framework. Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs June 3 0 , 201 8 Collateral-dependent Impaired Loans Real estate mortgage – construction and land development $ 1,271 $ - $ - $ 1,271 Real estate mortgage – residential 4,163 - - 4,163 Total $ 5,434 $ - $ - $ 5,434 OREO Construction and land development $ 1,074 $ - $ - $ 1,074 Total $ 1,074 $ - $ - $ 1,074 Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 201 7 Collateral-dependent Impaired Loans Real estate mortgage – construction and land development $ 1,553 $ - $ - $ 1,553 Real estate mortgage – residential 4,687 - - 4,687 Real estate mortgage – farmland and other commercial enterprises 2,645 - - 2,645 Total $ 8,885 $ - $ - $ 8,885 OREO Construction and land development $ 3,468 $ - $ - $ 3,468 Residential real estate 157 - - 157 Farmland and other commercial enterprises 821 - - 821 Total $ 4,446 $ - $ - $ 4,446 The following table represents fair value adjustments recorded in earnings for the periods indicated on assets measured at fair value on a nonrecurring basis. Three months ended June 30, Six months ended June 30, (In thousands) 2018 2017 2018 2017 Net decrease in fair value: Collateral-dependent impaired loans $ 22 $ 25 $ 47 $ 27 OREO 462 138 479 202 Total $ 484 $ 163 $ 526 $ 229 The following table presents quantitative information about unobservable inputs for assets measured on a nonrecurring basis using Level 3 third not may 2018 2017. (In thousands) Fair Value Valuation Technique Unobservable Inputs Range Weighted Average June 3 0 , 201 8 Collateral-dependent impaired loans $ 5,434 Discounted appraisals Marketability discount -% - % OREO $ 1,074 Discounted appraisals Marketability discount 0% - 6.0% 5.3 % December 31, 201 7 Collateral-dependent impaired loans $ 8,885 Discounted appraisals Marketability discount 0% - 22.8% 3.1 % OREO $ 4,446 Discounted appraisals Marketability discount 0% - 71.7% 4.0 % Fair Value of Financial Instruments The table that follows represents the estimated fair values of the Company’s financial instruments made in accordance with the requirements of ASC Topic 825, “Financial Instruments . ” 825 not 825 not The following table presents the estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2018 December 31, 2017. 2016 01, June 30, 2018 Fair Value Measurements Using (In thousands) Carrying Fair Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs June 3 0 , 201 8 Assets Cash and cash equivalents $ 93,246 $ 93,246 $ 93,246 $ - $ - Held to maturity investment securities 2,837 2,868 - 2,868 - Loans, net 1,054,214 1,035,437 - - 1,035,437 Accrued interest receivable 4,797 4,797 - 4,797 - Federal Home Loan Bank and Federal Reserve Bank Stock 12,996 12,996 - - 12,996 Liabilities Deposits 1,334,787 1,334,390 1,135,600 - 198,790 Securities sold under agreements to repurchase 33,532 33,534 - 33,534 - Federal Home Loan Bank advances 3,392 3,439 - 3,439 - Subordinated notes payable to unconsolidated trusts 33,506 24,301 - - 24,301 Accrued interest payable 396 396 - 396 - December 31, 201 7 Assets Cash and cash equivalents $ 120,408 $ 120,408 $ 120,408 $ - $ - Held to maturity investment securities 3,364 3,478 - 3,478 - Loans, net 1,025,480 1,012,959 - - 1,012,959 Accrued interest receivable 4,935 4,935 - 4,935 - Federal Home Loan Bank and Federal Reserve Bank Stock 13,235 13,235 - - 13,235 Liabilities Deposits 1,379,903 1,380,122 1,157,045 - 223,077 Securities sold under agreements to repurchase 34,252 34,257 - 34,257 - Federal Home Loan Bank advances 3,479 3,546 - 3,546 - Subordinated notes payable to unconsolidated trusts 33,506 22,709 - - 22,709 Accrued interest payable 261 261 - 261 - |
Note 14 - Loss Contingencies
Note 14 - Loss Contingencies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | 14 . Loss Contingencies Loss contingencies, including claims and legal actions arising primarily in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. As of June 30, 2018, not |
Note 15 - Subsequent Event
Note 15 - Subsequent Event | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 1 5 . Subsequent Event On July 23, 2018, April 19, 2018 ( $10.9 June 30, 2018, Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger, the Company’s shareholders will have the right to receive (i) 1.053 $5.00 $378.2 may $12,000,000. Consummation of the Merger is subject to a number of customary conditions, including, but not July 2018. third 2018. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Reclassification, Policy [Policy Text Block] | Certain reclassifications have been made to the condensed consolidated financial statements of prior periods to conform to the current period presentation. These reclassifications do not |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans and Interest Income Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at their unpaid principal amount outstanding adjusted for any charge-offs, deferred fees or costs on originated loans, and unamortized premiums and discounts on purchased loans. Interest income on loans is recognized using the interest method based on loan principal amounts outstanding during the period. Interest income also includes amortization and accretion of any premiums or discounts over the expected life of acquired loans at the time of purchase or business acquisition. Loan origination fees, net of certain direct origination costs, are deferred and amortized as yield adjustments over the contractual term of the loans. The Company disaggregates certain disclosure information related to loans, the related allowance for loan losses, and credit quality measures by either portfolio segment or by loan class. The Company segregates its loan portfolio segments based on similar risk characteristics as follows: real estate loans, commercial loans, and consumer loans. Portfolio segments are further disaggregated into classes for certain required disclosures as follows: Portfolio Segment Class Real estate loans Real estate mortgage – construction and land development Real estate mortgage – residential Real estate mortgage – farmland and other commercial enterprises Commercial loans Commercial and industrial Depository institutions Agriculture production and other loans to farmers States and political subdivisions Other Consumer loans Secured Unsecured The Company has a loan policy in place that is amended and approved from time to time as needed to reflect current economic conditions and product offerings in its markets. The policy establishes written procedures concerning areas such as the lending authorities of loan officers, committee review and approval of certain credit requests, underwriting criteria, policy exceptions, appraisal requirements, and loan review. Credit is extended to borrowers based primarily on their ability to repay as demonstrated by income and cash flow analysis. Loans secured by real estate make up the largest segment of the Company’s loan portfolio. If a borrower fails to repay a loan secured by real estate, the Company may third Commercial loans are made to businesses and are secured mainly by assets such as inventory, accounts receivable, machinery, fixtures and equipment, or other business assets. Commercial lending involves significant risk, as loan repayments are more dependent on the successful operation or management of the business and its cash flows. Consumer lending includes loans to individuals mainly for personal autos, boats, or a variety of other personal uses and may The accrual of interest on loans is discontinued when it is determined that the collection of interest or principal is doubtful, or when a default of interest or principal has existed for 90 not not Commercial and real estate loans delinquent in excess of 120 180 not |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Provision and Allowance for Loan Losses The provision for loan losses represents charges or credits made to earnings to maintain an allowance for loan losses at a level considered adequate to provide for probable incurred credit losses at the balance sheet date. The allowance for loan losses is a valuation allowance increased by the provision for loan losses and decreased by net charge-offs. Loan losses are charged against the allowance when management believes the uncollectibility of a loan is confirmed. Subsequent recoveries, if any, are credited to the allowance. The Company estimates the adequacy of the allowance using a risk-rated methodology which is based on the Company’s past loan loss experience, known and inherent risks in the loan portfolio, adverse situations that may may The allowance for loan losses consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current risk factors. Allocations of the allowance may The general portion of the Company’s loan portfolio is segregated into portfolio segments having similar risk characteristics identified as follows: real estate loans, commercial loans, and consumer loans. Each of these portfolio segments is assigned a loss percentage based on their respective twelve The qualitative risk factors used in the methodology are consistent with the guidance in the most recent Interagency Policy Statement on the Allowance for Loan Losses issued. Each factor is supported by a detailed analysis and is both measurable and supportable. Some factors include a minimum allocation in instances where loss levels are extremely low and it is determined to be prudent from a safety and soundness perspective. Qualitative risk factors that are used in the methodology include the following for each loan portfolio segment: ● Delinquency trends ● Trends in net charge-offs ● Trends in loan volume ● Lending philosophy risk ● Management experience risk ● Concentration of credit risk ● Economic conditions risk A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not The Company accounts for impaired loans in accordance with Accounting Standards Codification (“ASC”) Topic 310, “Receivables . ” 310 may |
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of New Accounting Standards In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 2015, 2016, 2017. No. 2014 09 The majority of the Company’s revenues earned are excluded from the scope of the new standard. Revenue streams within the scope of this ASU include services charges and fees on deposits, allotment processing fees, trust income, and certain components of other service charges, commission, and fees. The Company has analyzed each revenue stream under Topic 606 no No. 2014 09 January 1, 2018 no 5. In January 2016, No. 2016 01, Financial Instruments – Overall (Subtopic 825 10 February 2018, December 15, 2017, No. 2016 01 January 1, 2018, $56 3 7. 13. In March 2017, No. 2017 07, Compensation—Retirement Benefits (Topic 715 715 not 2017 07 January 1, 2018, not In February 2018, No. 2018 02, Income Statement—Reporting Comprehensive Income (Topic 220 December 2017, December 15, 2018, $633 December 31, 2017. no Recently Issued Accounting Standards In February 2016, No. 2016 02, “Leases (Topic 842 twelve 606, Revenue from Contracts with Customers For public companies, ASU No. 2016 02 December 15, 2018, not may not No. 2016 02 In June 2016, No. 2016 13, “ Financial Instruments—Credit Losses (Topic 326 , ” ASU No. 2016 13 December 15, 2019. December 15, 2018, not third third Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not |
Note 3 - Accumulated Other Co26
Note 3 - Accumulated Other Comprehensive (Loss) Income (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three Months Ended June 30, 2018 2017 (In thousands) Unrealized Gains (Losses) on Available for Sale Investment Securities Postretirement Benefit Obligation Total Unrealized Gains (Losses) on Available for Sale Investment Securities Postretirement Benefit Obligation Total Beginning balance $ (7,668 ) $ (57 ) $ (7,725 ) $ (2,409 ) $ 14 $ (2,395 ) Other comprehensive (loss) income before reclassifications (1,112 ) - (1,112 ) 1,329 8 1,337 Amounts reclassified from accumulated other comprehensive income - (1 ) (1 ) 1 1 2 Net current-period other comprehensive (loss) income (1,112 ) (1 ) (1,113 ) 1,330 9 1,339 Ending balance $ (8,780 ) $ (58 ) $ (8,838 ) $ (1,079 ) $ 23 $ (1,056 ) Six Months Ended June 30, 2018 2017 (In thousands) Unrealized Gains (Losses) on Available for Sale Investment Securities Postretirement Benefit Obligation Total Unrealized Gains (Losses) on Available for Sale Investment Securities Postretirement Benefit Obligation Total Beginning balance $ (3,510 ) $ (56 ) $ (3,566 ) $ (3,363 ) $ (45 ) $ (3,408 ) Other comprehensive (loss) income before reclassifications (5,214 ) - (5,214 ) 2,277 17 2,294 Amounts reclassified from accumulated other comprehensive income - (2 ) (2 ) 7 51 58 Net current-period other comprehensive (loss) income (5,214 ) (2 ) (5,216 ) 2,284 68 2,352 Adoption of Accounting Standards Update 2016-01 (56 ) - (56 ) - - - Ending balance $ (8,780 ) $ (58 ) $ (8,838 ) $ (1,079 ) $ 23 $ (1,056 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Unrealized gains (losses) on available for sale investment securities $ - $ (1 ) $ - $ (10 ) Net loss on sales of available for sale investment securities - - - 3 Income tax expense $ - $ (1 ) $ - $ (7 ) Net of tax Amortization related to postretirement benefits Prior service costs $ - $ - $ - $ (75 ) Salaries and employee benefits Actuarial gains (losses) 1 (2 ) 2 (3 ) Other noninterest expense 1 (2 ) 2 (78 ) Total before tax - 1 - 27 Income tax expense $ 1 $ (1 ) $ 2 $ (51 ) Net of tax Total reclassifications for the period $ 1 $ (2 ) $ 2 $ (58 ) Net of tax |
Note 5 - Revenue From Contrac27
Note 5 - Revenue From Contracts With Customers (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Service charges and fees on deposits Overdraft fees $ 968 $ 969 $ 1,924 $ 1,896 Dormant account fees 574 659 1,167 1,324 Service charges on checking and savings accounts 304 328 618 638 Other 51 56 100 112 Allotment processing fees 677 651 1,397 1,366 Other service charges, commissions, and fees Interchange fees 917 808 1,744 1,589 Other 1 573 520 1,118 1,111 Trust income 695 626 1,484 1,330 Net loss on sales of available for sale investment securities 2 - (1 ) - (10 ) Net gain on sales of equity investment securities 2 808 - 808 - Gain on sale of mortgage loans, net 2 104 189 199 343 Income from company-owned life insurance 2 213 221 506 456 Other 89 76 109 198 Total noninterest income $ 5,973 $ 5,102 $ 11,174 $ 10,353 |
Note 6 - Net Income Per Commo28
Note 6 - Net Income Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share data) 2018 2017 2018 2017 Net income, basic and diluted $ 5,847 $ 4,482 $ 11,488 $ 7,811 Average common shares issued and outstanding, basic and diluted 7,520 7,512 7,519 7,511 Net income per common share, basic and diluted $ .78 $ .60 $ 1.53 $ 1.04 |
Note 7 - Investment Securities
Note 7 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Marketable Securities [Table Text Block] | June 30, 2018 (In thousands) Amortized Gross Unrealized Gross Unrealized Estimated Available For Sale Obligations of U.S. government-sponsored entities $ 34,676 $ 5 $ 857 $ 33,824 Obligations of states and political subdivisions 105,616 263 2,450 103,429 Mortgage-backed securities – residential 178,426 242 5,830 172,838 Mortgage-backed securities – commercial 49,387 - 2,478 46,909 Asset-backed securities 15,493 32 26 15,499 Corporate debt securities 7,495 22 37 7,480 Total securities – available for sale $ 391,093 $ 564 $ 11,678 $ 379,979 Held To Maturity Obligations of states and political subdivisions $ 2,837 $ 31 $ - $ 2,868 December 31, 2017 (In thousands) Amortized Gross Unrealized Gross Unrealized Estimated Available For Sale Obligations of U.S. government-sponsored entities $ 43,601 $ 44 $ 437 $ 43,208 Obligations of states and political subdivisions 114,960 562 1,273 114,249 Mortgage-backed securities – residential 195,605 523 2,735 193,393 Mortgage-backed securities – commercial 50,518 42 1,208 49,352 Asset-backed securities 15,569 9 4 15,574 Corporate debt securities 7,578 1 37 7,542 Total securities – available for sale $ 427,831 $ 1,181 $ 5,694 $ 423,318 Held To Maturity Obligations of states and political subdivisions $ 3,364 $ 114 $ - $ 3,478 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available For Sale Held To Maturity Amortized Estimated Amortized Estimated June 30, 2018 (In thousands) Cost Fair Value Cost Fair Value Due in one year or less $ 19,847 $ 19,828 $ - $ - Due after one year through five years 53,443 52,717 - - Due after five years through ten years 51,363 49,493 732 748 Due after ten years 38,627 38,194 2,105 2,120 Mortgage-backed securities 227,813 219,747 - - Total $ 391,093 $ 379,979 $ 2,837 $ 2,868 |
Realized Gain (Loss) on Investments [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2018 2017 2018 2017 Gross realized gains $ - $ - $ - $ - Gross realized losses - 1 - 10 Net realized loss $ - $ (1 ) $ - $ (10 ) |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total June 30, 2018 (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of U.S. government-sponsored entities $ 10,175 $ 282 $ 22,987 $ 575 $ 33,162 $ 857 Obligations of states and political subdivisions 50,261 1,051 33,147 1,399 83,408 2,450 Mortgage-backed securities – residential 74,287 2,010 90,087 3,820 164,374 5,830 Mortgage-backed securities – commercial 14,509 611 32,400 1,867 46,909 2,478 Asset-backed securities 3,729 26 - - 3,729 26 Corporate debt securities 3,102 34 248 3 3,350 37 Total $ 156,063 $ 4,014 $ 178,869 $ 7,664 $ 334,932 $ 11,678 Less than 12 Months 12 Months or More Total December 31, 2017 (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of U.S. government-sponsored entities $ 11,544 $ 43 $ 25,298 $ 394 $ 36,842 $ 437 Obligations of states and political subdivisions 40,402 413 33,965 860 74,367 1,273 Mortgage-backed securities – residential 77,312 481 99,986 2,254 177,298 2,735 Mortgage-backed securities – commercial 7,758 62 34,139 1,146 41,897 1,208 Asset-backed securities 1,166 4 - - 1,166 4 Corporate debt securities 7,251 36 200 1 7,451 37 Total $ 145,433 $ 1,039 $ 193,588 $ 4,655 $ 339,021 $ 5,694 |
Note 8 - Loans and Allowance 30
Note 8 - Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In thousands) June 30, December 31, Real Estate Real estate mortgage – construction and land development $ 128,183 $ 129,181 Real estate mortgage – residential 350,778 355,304 Real estate mortgage – farmland and other commercial enterprises 457,014 432,321 Commercial Commercial and industrial 87,224 63,417 States and political subdivisions 17,686 27,209 Other 16,068 19,916 Consumer Secured 4,215 4,853 Unsecured 3,047 3,062 Total loans 1,064,215 1,035,263 Less unearned income - - Total loans, net of unearned income $ 1,064,215 $ 1,035,263 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (In thousands) Real Estate Commercial Consumer Total Three months ended June 30, 201 8 Balance, beginning of period $ 8,601 $ 836 $ 311 $ 9,748 Provision for loan losses (148 ) 296 (21 ) 127 Recoveries 264 17 13 294 Loans charged off (88 ) (65 ) (15 ) (168 ) Balance, end of period $ 8,629 $ 1,084 $ 288 $ 10,001 Six months ended June 30, 201 8 Balance, beginning of period $ 8,509 $ 951 $ 323 $ 9,783 Provision for loan losses (339 ) 249 (44 ) (134 ) Recoveries 605 37 40 682 Loans charged off (146 ) (153 ) (31 ) (330 ) Balance, end of period $ 8,629 $ 1,084 $ 288 $ 10,001 (In thousands) Real Estate Commercial Consumer Total Three months ended June 30, 2017 Balance, beginning of period $ 8,184 $ 864 $ 459 $ 9,507 Provision for loan losses (546 ) 135 (88 ) (499 ) Recoveries 398 17 8 423 Loans charged off (75 ) (116 ) (18 ) (209 ) Balance, end of period $ 7,961 $ 900 $ 361 $ 9,222 Six months ended June 30, 2017 Balance, beginning of period $ 8,205 $ 854 $ 285 $ 9,344 Provision for loan losses (150 ) 128 103 81 Recoveries 415 66 19 500 Loans charged off (509 ) (148 ) (46 ) (703 ) Balance, end of period $ 7,961 $ 900 $ 361 $ 9,222 |
Impaired Financing Receivables [Table Text Block] | Unpaid Balance Recorded With No Allowance Recorded With Allowance Total Recorded Investment Allowance for Real Estate Real estate mortgage – construction and land development $ 3,397 $ 1,428 $ 1,594 $ 3,022 $ 323 Real estate mortgage – residential 9,952 3,079 6,871 9,950 2,018 Real estate mortgage – farmland and other commercial enterprises 8,614 2,147 6,299 8,446 295 Commercial Commercial and industrial 383 - 383 383 211 Other 3 - 3 3 3 Consumer Unsecured 285 - 285 285 192 Total $ 22,634 $ 6,654 $ 15,435 $ 22,089 $ 3,042 Unpaid Balance Recorded With No Allowance Recorded With Allowance Total Recorded Investment Allowance for Allocated Real Estate Real estate mortgage – construction and land development $ 4,076 $ 1,746 $ 1,955 $ 3,701 $ 402 Real estate mortgage – residential 10,112 3,233 6,877 10,110 1,973 Real estate mortgage – farmland and other commercial enterprises 8,737 2,203 6,367 8,570 319 Commercial Commercial and industrial 448 - 448 448 270 Consumer Unsecured 312 - 312 312 218 Total $ 23,685 $ 7,182 $ 15,959 $ 23,141 $ 3,182 Three Months Ended June 30, 2018 2017 (In thousands) Average Interest Income Recognized Cash Basis Interest Recognized Average Interest Income Recognized Cash Basis Interest Recognized Real Estate Real estate mortgage – construction and land development $ 3,463 $ 44 $ 44 $ 4,216 $ 58 $ 58 Real estate mortgage – residential 10,122 137 135 11,080 136 134 Real estate mortgage – farmland and other commercial enterprises 8,835 97 95 24,108 296 296 Commercial Commercial and industrial 389 5 5 409 4 4 Other 4 - - 26 - - Consumer Unsecured 306 5 5 325 4 4 Total $ 23,119 $ 288 $ 284 $ 40,164 $ 498 $ 496 Six Months Ended June 30, 2018 2017 (In thousands) Average Interest Income Recognized Cash Basis Interest Recognized Average Interest Income Recognized Cash Basis Interest Recognized Real Estate Real estate mortgage – construction and land development $ 3,539 $ 90 $ 88 $ 5,226 $ 134 $ 133 Real estate mortgage – residential 10,232 273 267 10,395 254 251 Real estate mortgage – farmland and other commercial enterprises 8,861 197 192 24,098 598 592 Commercial Commercial and industrial 391 10 10 454 11 11 Other 2 - - 13 - - Consumer Unsecured 313 9 9 330 9 8 Total $ 23,338 $ 579 $ 566 $ 40,516 $ 1,006 $ 995 |
Loans and ALL Disaggregated Impairment Method [Table Text Block] | June 30, 2018 (In thousands) Real Estate Commercial Consumer Total Allowance for Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 2,636 $ 214 $ 192 $ 3,042 Collectively evaluated for impairment 5,993 870 96 6,959 Total ending allowance balance $ 8,629 $ 1,084 $ 288 $ 10,001 Loans Loans individually evaluated for impairment $ 21,418 $ 386 $ 285 $ 22,089 Loans collectively evaluated for impairment 914,557 120,592 6,977 1,042,126 Total ending loan balance, net of unearned income $ 935,975 $ 120,978 $ 7,262 $ 1,064,215 December 31, 2017 (In thousands) Real Estate Commercial Consumer Total Allowance for Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 2,694 $ 270 $ 218 $ 3,182 Collectively evaluated for impairment 5,815 681 105 6,601 Total ending allowance balance $ 8,509 $ 951 $ 323 $ 9,783 Loans Loans individually evaluated for impairment $ 22,381 $ 448 $ 312 $ 23,141 Loans collectively evaluated for impairment 894,425 110,094 7,603 1,012,122 Total ending loan balance, net of unearned income $ 916,806 $ 110,542 $ 7,915 $ 1,035,263 |
Non-performing Loans Including TDR's [Table Text Block] | June 30, 2018 (In thousands) Nonaccrual Restructured Loans Loans Past Due 90 Days or More and Still Accruing Real Estate Real estate mortgage – construction and land development $ 149 $ 1,595 $ - Real estate mortgage – residential 1,441 5,618 - Real estate mortgage – farmland and other commercial enterprises 2,355 3,660 - Commercial Commercial and industrial 11 367 - Consumer Unsecured 146 125 - Total $ 4,102 $ 11,365 $ - December 31, 2017 (In thousands) Nonaccrual Restructured Loans Loans Past Due 90 Days or More and Still Accruing Real Estate Real estate mortgage – construction and land development $ 151 $ 1,955 $ - Real estate mortgage – residential 1,763 5,326 - Real estate mortgage – farmland and other commercial enterprises 1,752 3,703 - Commercial Commercial and industrial 53 370 - Consumer Unsecured 168 128 - Total $ 3,887 $ 11,482 $ - |
Past Due Financing Receivables [Table Text Block] | June 30, 2018 (In thousands) 30-89 Days Past Due 90 Days or More Past Due Total Current Total Loans Real Estate Real estate mortgage – construction and land development $ 15 $ 87 $ 102 $ 128,081 $ 128,183 Real estate mortgage – residential 630 240 870 349,908 350,778 Real estate mortgage – farmland and other commercial enterprises 496 1,621 2,117 454,897 457,014 Commercial Commercial and industrial - - - 87,224 87,224 States and political subdivisions - - - 17,686 17,686 Other - - - 16,068 16,068 Consumer Secured - - - 4,215 4,215 Unsecured 6 - 6 3,041 3,047 Total $ 1,147 $ 1,948 $ 3,095 $ 1,061,120 $ 1,064,215 December 31, 2017 (In thousands) 30-89 Days Past Due 90 Days or More Past Due Total Current Total Loans Real Estate Real estate mortgage – construction and land development $ 15 $ 87 $ 102 $ 129,079 $ 129,181 Real estate mortgage – residential 1,160 538 1,698 353,606 355,304 Real estate mortgage – farmland and other commercial enterprises 966 948 1,914 430,407 432,321 Commercial Commercial and industrial 62 - 62 63,355 63,417 States and political subdivisions - - - 27,209 27,209 Other 21 - 21 19,895 19,916 Consumer Secured - - - 4,853 4,853 Unsecured 9 - 9 3,053 3,062 Total $ 2,233 $ 1,573 $ 3,806 $ 1,031,457 $ 1,035,263 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Real Estate Commercial June 30, 2018 Real Estate Mortgage – Construction and Land Development Real Estate Mortgage – Residential Real Estate Mortgage – Farmland and Other Commercial Enterprises Commercial and Industrial States and Political Subdivisions Other Credit risk profile by internally assigned rating grades Pass $ 124,342 $ 326,533 $ 440,095 $ 86,390 $ 17,686 $ 16,051 Special Mention 668 8,975 6,216 448 - 14 Substandard 3,173 15,270 10,703 386 - 3 Doubtful - - - - - - Total $ 128,183 $ 350,778 $ 457,014 $ 87,224 $ 17,686 $ 16,068 Real Estate Commercial December 31, 2017 Real Estate Mortgage – Construction and Land Development Real Estate Mortgage – Residential Real Estate Mortgage – Farmland and Other Commercial Enterprises Commercial and Industrial States and Political Subdivisions Other Credit risk profile by internally assigned rating grades Pass $ 124,926 $ 330,401 $ 414,663 $ 62,490 $ 27,209 $ 19,898 Special Mention 396 9,196 7,556 474 - 18 Substandard 3,859 15,707 10,102 453 - - Doubtful - - - - - - Total $ 129,181 $ 355,304 $ 432,321 $ 63,417 $ 27,209 $ 19,916 |
Risk Category of Loans by Class-Consumer [Table Text Block] | June 30, 2018 December 31, 2017 Consumer Consumer (In thousands) Secured Unsecured Secured Unsecured Credit risk profile based on payment activity Performing $ 4,215 $ 2,776 $ 4,853 $ 2,766 Nonperforming - 271 - 296 Total $ 4,215 $ 3,047 $ 4,853 $ 3,062 |
Note 9 - Other Real Estate Ow31
Note 9 - Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
OREO Detail [Table Text Block] | (In thousands) June 30, 2018 December 31, 2017 Construction and land development $ 3,050 $ 4,433 Residential real estate - 157 Farmland and other commercial enterprises 981 899 Total $ 4,031 $ 5,489 |
OREO Activity [Table Text Block] | Six months ended June 30, (In thousands) 2018 2017 Beginning balance $ 5,489 $ 10,673 Transfers from loans and other increases 126 345 Proceeds from sales (1,013 ) (4,553 ) (Loss) gain on sales, net (76 ) 72 Write downs and other decreases, net (495 ) (350 ) Ending balance $ 4,031 $ 6,187 |
Note 10 - Securities Sold Und32
Note 10 - Securities Sold Under Agreements to Repurchase (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Repurchase Agreements [Table Text Block] | Remaining Contractual Maturity of the Agreements June 30, 2018 (In thousands) Overnight/ Continuous Less Than 30 Days 30-89 90 Days to One Year Over One Year to Three Years Total Mortgage-backed securities – residential $ 31,873 $ 1,400 $ - $ 259 $ - $ 33,532 Total $ 31,873 $ 1,400 $ - $ 259 $ - $ 33,532 Remaining Contractual Maturity of the Agreements December 31, 2017 (In thousands) Overnight/ Continuous Less Than 30 Days 30-89 90 Days to One Year Over One Year to Three Years Total Mortgage-backed securities – residential $ 32,341 $ 1,200 $ - $ 454 $ 257 $ 34,252 Total $ 32,341 $ 1,200 $ - $ 454 $ 257 $ 34,252 |
Note 11 - Postretirement Medi33
Note 11 - Postretirement Medical Benefits (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Service cost $ 141 $ 137 $ 281 $ 283 Interest cost 152 164 305 332 Curtailment gain recognized - - - (351 ) Recognized prior service cost - - - 8 Net periodic benefit cost $ 293 $ 301 $ 586 $ 272 |
Note 12 - Regulatory Matters (T
Note 12 - Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | June 30, 2018 December 31, 2017 Common Equity Tier 1 Risk-based Capital 1 Tier 1 Risk- based Capital 1 Total based Capital 1 Tier 1 Leverage 2 Common Equity Tier 1 Risk-based Capital 1 Tier 1 based Capital 1 Total based 1 Tier 1 Leverage 2 Consolidated 17.13 % 19.82 % 20.65 % 14.41 % 16.56 % 19.30 % 20.12 % 13.75 % United Bank 14.48 14.48 15.32 10.65 14.05 14.05 14.88 10.13 Regulatory minimum 4.50 6.00 8.00 4.00 4.50 6.00 8.00 4.00 Well-capitalized status 6.50 8.00 10.00 5.00 6.50 8.00 10.00 5.00 |
Note 13 - Fair Value Measurem35
Note 13 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using (In thousands) June 3 0 , 2018 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Available For Sale Securities Obligations of U.S. government-sponsored entities $ 33,824 $ - $ 33,824 $ - Obligations of states and political subdivisions 103,429 - 103,429 - Mortgage-backed securities – residential 172,838 - 172,838 - Mortgage-backed securities – commercial 46,909 - 46,909 - Asset-backed securities 15,499 - 15,499 - Corporate debt securities 7,480 - 7,480 - Total available for sale securities $ 379,979 $ - $ 379,979 $ - Equity Securities Mutual funds and equity securities $ 1,573 $ 1,573 $ - $ - December 31, 2017 Available For Sale Securities Obligations of U.S. government-sponsored entities $ 43,208 $ - $ 43,208 $ - Obligations of states and political subdivisions 114,249 - 114,249 - Mortgage-backed securities – residential 193,393 - 193,393 - Mortgage-backed securities – commercial 49,352 - 49,352 - Asset-backed securities 15,574 - 15,574 - Corporate debt securities 7,542 - 7,542 - Total available for sale securities $ 423,318 $ - $ 423,318 $ - Equity Securities Mutual funds and equity securities $ 935 $ 935 $ - $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs June 3 0 , 201 8 Collateral-dependent Impaired Loans Real estate mortgage – construction and land development $ 1,271 $ - $ - $ 1,271 Real estate mortgage – residential 4,163 - - 4,163 Total $ 5,434 $ - $ - $ 5,434 OREO Construction and land development $ 1,074 $ - $ - $ 1,074 Total $ 1,074 $ - $ - $ 1,074 Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 201 7 Collateral-dependent Impaired Loans Real estate mortgage – construction and land development $ 1,553 $ - $ - $ 1,553 Real estate mortgage – residential 4,687 - - 4,687 Real estate mortgage – farmland and other commercial enterprises 2,645 - - 2,645 Total $ 8,885 $ - $ - $ 8,885 OREO Construction and land development $ 3,468 $ - $ - $ 3,468 Residential real estate 157 - - 157 Farmland and other commercial enterprises 821 - - 821 Total $ 4,446 $ - $ - $ 4,446 |
Asset Impairment Charges on Assets Nonrecurring [Table Text Block] | Three months ended June 30, Six months ended June 30, (In thousands) 2018 2017 2018 2017 Net decrease in fair value: Collateral-dependent impaired loans $ 22 $ 25 $ 47 $ 27 OREO 462 138 479 202 Total $ 484 $ 163 $ 526 $ 229 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | (In thousands) Fair Value Valuation Technique Unobservable Inputs Range Weighted Average June 3 0 , 201 8 Collateral-dependent impaired loans $ 5,434 Discounted appraisals Marketability discount -% - % OREO $ 1,074 Discounted appraisals Marketability discount 0% - 6.0% 5.3 % December 31, 201 7 Collateral-dependent impaired loans $ 8,885 Discounted appraisals Marketability discount 0% - 22.8% 3.1 % OREO $ 4,446 Discounted appraisals Marketability discount 0% - 71.7% 4.0 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements Using (In thousands) Carrying Fair Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs June 3 0 , 201 8 Assets Cash and cash equivalents $ 93,246 $ 93,246 $ 93,246 $ - $ - Held to maturity investment securities 2,837 2,868 - 2,868 - Loans, net 1,054,214 1,035,437 - - 1,035,437 Accrued interest receivable 4,797 4,797 - 4,797 - Federal Home Loan Bank and Federal Reserve Bank Stock 12,996 12,996 - - 12,996 Liabilities Deposits 1,334,787 1,334,390 1,135,600 - 198,790 Securities sold under agreements to repurchase 33,532 33,534 - 33,534 - Federal Home Loan Bank advances 3,392 3,439 - 3,439 - Subordinated notes payable to unconsolidated trusts 33,506 24,301 - - 24,301 Accrued interest payable 396 396 - 396 - December 31, 201 7 Assets Cash and cash equivalents $ 120,408 $ 120,408 $ 120,408 $ - $ - Held to maturity investment securities 3,364 3,478 - 3,478 - Loans, net 1,025,480 1,012,959 - - 1,012,959 Accrued interest receivable 4,935 4,935 - 4,935 - Federal Home Loan Bank and Federal Reserve Bank Stock 13,235 13,235 - - 13,235 Liabilities Deposits 1,379,903 1,380,122 1,157,045 - 223,077 Securities sold under agreements to repurchase 34,252 34,257 - 34,257 - Federal Home Loan Bank advances 3,479 3,546 - 3,546 - Subordinated notes payable to unconsolidated trusts 33,506 22,709 - - 22,709 Accrued interest payable 261 261 - 261 - |
Note 3 - Accumulated Other Co36
Note 3 - Accumulated Other Comprehensive (Loss) Income (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2018 | Jan. 01, 2018 |
Cumulative Effect of New Accounting Principle in Period of Adoption | ||
Accounting Standards Update 2016-01 [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 56 | $ 56 |
Note 3 - Accumulated Other Co37
Note 3 - Accumulated Other Comprehensive (Loss) Income - Changes in Accumulated Other Comprehensive (Loss) Income by Component (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Beginning balance | $ 193,353 | $ 184,066 | ||
Net current-period other comprehensive (loss) income | $ (1,113) | $ 1,339 | (5,216) | 2,352 |
Ending balance | 197,892 | 192,876 | 197,892 | 192,876 |
Adoption of Accounting Standards Update 2016-01 | ||||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Beginning balance | (7,668) | (2,409) | (3,510) | (3,363) |
Other comprehensive (loss) income before reclassifications | (1,112) | 1,329 | (5,214) | 2,277 |
Amounts reclassified from accumulated other comprehensive income | 1 | 7 | ||
Net current-period other comprehensive (loss) income | (1,112) | 1,330 | (5,214) | 2,284 |
Ending balance | (8,780) | (1,079) | (8,780) | (1,079) |
Adoption of Accounting Standards Update 2016-01 | (56) | (56) | ||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Beginning balance | (57) | 14 | (56) | (45) |
Other comprehensive (loss) income before reclassifications | 8 | 17 | ||
Amounts reclassified from accumulated other comprehensive income | (1) | 1 | (2) | 51 |
Net current-period other comprehensive (loss) income | (1) | 9 | (2) | 68 |
Ending balance | (58) | 23 | (58) | 23 |
Adoption of Accounting Standards Update 2016-01 | ||||
AOCI Attributable to Parent [Member] | ||||
Beginning balance | (7,725) | (2,395) | (3,566) | (3,408) |
Other comprehensive (loss) income before reclassifications | (1,112) | 1,337 | (5,214) | 2,294 |
Amounts reclassified from accumulated other comprehensive income | (1) | 2 | (2) | 58 |
Net current-period other comprehensive (loss) income | (1,113) | 1,339 | (5,216) | 2,352 |
Ending balance | (8,838) | (1,056) | (8,838) | (1,056) |
Adoption of Accounting Standards Update 2016-01 | $ (56) | $ (56) |
Note 3 - Accumulated Other Co38
Note 3 - Accumulated Other Comprehensive (Loss) Income - Amounts Reclassified Out of Accumulated Other Comprehensive (Loss) Income by Component (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income tax expense | $ (1,303) | $ (1,722) | $ (2,463) | $ (2,998) |
Net income | 5,847 | 4,482 | 11,488 | 7,811 |
Salaries and employee benefits | (7,410) | (7,475) | (14,900) | (15,335) |
Total before tax | 7,150 | 6,204 | 13,951 | 10,809 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Net income | 1 | (2) | 2 | (58) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Unrealized gains (losses) on available for sale investment securities | (1) | (10) | ||
Income tax expense | 3 | |||
Net income | (1) | (7) | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member] | ||||
Salaries and employee benefits | (75) | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | ||||
Salaries and employee benefits | 1 | (2) | 2 | (3) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Income tax expense | 1 | 27 | ||
Net income | 1 | (1) | 2 | (51) |
Total before tax | $ 1 | $ (2) | $ 2 | $ (78) |
Note 4 - Accounting Policy (Det
Note 4 - Accounting Policy (Details Textual) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2018USD ($) | Jan. 01, 2018USD ($) | Dec. 31, 2017USD ($) | |
Allowance for Loan Losses, Look-back Period | 12 | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | |||
Accounting Standards Update 2016-01 [Member] | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 56 | $ 56 | |
Accounting Standards Update 2018-02 [Member] | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 633 |
Note 5 - Revenue From Contrac40
Note 5 - Revenue From Contracts With Customers (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Gains (Losses) on Sales of Other Real Estate | $ (571) | $ (278) | ||
Other Real Estate Expenses, Net [Member] | ||||
Gains (Losses) on Sales of Other Real Estate | $ (33) | $ (43) | (76) | 72 |
Loan Servicing Fees and Other Fees [Member] | ||||
Revenues, Total | $ 147 | $ 139 | $ 289 | $ 272 |
Note 5 - Revenue From Contrac41
Note 5 - Revenue From Contracts With Customers - Sources of Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Net loss on sales of available for sale investment securities | [1] | $ 0 | $ (1) | $ 0 | $ (10) |
Net realized gain on sales of equity investment securities | [1] | 808 | 0 | 808 | 0 |
Gains on sale of mortgage loans, net | [1] | 104 | 189 | 199 | 343 |
Income from company-owned life insurance | [1] | 213 | 221 | 506 | 456 |
Other | 89 | 76 | 109 | 198 | |
Total noninterest income | 5,973 | 5,102 | 11,174 | 10,353 | |
Overdraft Fees [Member] | |||||
Service charges, commissions, fees, and trust income | 968 | 969 | 1,924 | 1,896 | |
Dormant Account Fees [Member] | |||||
Service charges, commissions, fees, and trust income | 574 | 659 | 1,167 | 1,324 | |
Service Charges on Checking and Savings Accounts [Member] | |||||
Service charges, commissions, fees, and trust income | 304 | 328 | 618 | 638 | |
Other Service Charges and Fees on Deposits [Member] | |||||
Service charges, commissions, fees, and trust income | 51 | 56 | 100 | 112 | |
Allotment Processing Fees [Member] | |||||
Service charges, commissions, fees, and trust income | 677 | 651 | 1,397 | 1,366 | |
Interchange Fees [Member] | |||||
Service charges, commissions, fees, and trust income | 917 | 808 | 1,744 | 1,589 | |
Other Service Charges, Commissions, and Fees, Other [Member] | |||||
Service charges, commissions, fees, and trust income | [2] | 573 | 520 | 1,118 | 1,111 |
Fiduciary and Trust [Member] | |||||
Service charges, commissions, fees, and trust income | $ 695 | $ 626 | $ 1,484 | $ 1,330 | |
[1] | Not within the scope of ASC Topic 606. | ||||
[2] | Includes fees totaling $147 thousand and $139 thousand for the three months ended June 30, 2018 and 2017, respectively, and $289 thousand and $272 thousand for the six months ended June 30, 2018 and 2017, respectively, which are primarily servicing fees on loans originated for sale on the secondary market and are not within the scope of ASC Topic 606. |
Note 6 - Net Income Per Commo42
Note 6 - Net Income Per Common Share (Details Textual) - shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Weighted Average Number Diluted Shares Outstanding Adjustment, Total | 0 | 0 |
Note 6 - Net Income Per Commo43
Note 6 - Net Income Per Common Share - Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net income, basic and diluted | $ 5,847 | $ 4,482 | $ 11,488 | $ 7,811 |
Average common shares issued and outstanding, basic and diluted (in shares) | 7,520 | 7,512 | 7,519 | 7,511 |
Net income per common share, basic and diluted (in dollars per share) | $ 0.78 | $ 0.60 | $ 1.53 | $ 1.04 |
Note 7 - Investment Securitie44
Note 7 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Jan. 01, 2018 | Dec. 31, 2017 | |
Money Market Funds, at Carrying Value | $ 38,021 | $ 38,021 | $ 36,673 | ||
Equity Securities, FV-NI | 1,573 | 1,573 | 935 | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | |||||
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | (79) | $ 0 | |||
Equity Securities, FV-NI, Cost | 1,581 | 1,581 | 864 | ||
Collateral Pledged [Member] | |||||
Debt Securities, Available-for-sale, Restricted | 207,000 | 207,000 | $ 214,000 | ||
Visa Class B Stock [Member] | |||||
Equity Securities, FV-NI, Realized Gain | $ 808 | ||||
Equity Securities, FV-NI, Number of Shares Sold During Period | 7,672 | ||||
Equity Securities, FV-NI, Cost | $ 0 | $ 0 | |||
Equity Securities, FV-NI, Realized Loss | $ 0 | ||||
Equity Securities, Shares Held | 0 | 0 | |||
Other Noninterest Income [Member] | |||||
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | $ 24 | $ 79 | |||
Accounting Standards Update 2016-01 [Member] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 56 | $ 56 | $ 56 |
Note 7 - Investment Securitie45
Note 7 - Investment Securities - Amortized Costs and Estimated Fair Value of the Securities Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Available for Sale Securities - Amortized Cost | $ 391,093 | $ 427,831 |
Available for Sale Securities - Gross Unrealized Gains | 564 | 1,181 |
Available for Sale Securities - Gross Unrealized Losses | 11,678 | 5,694 |
Available for Sale Securities - Estimated Fair Value | 379,979 | 423,318 |
Held to Maturity Securities - Amortized Cost | 2,837 | 3,364 |
Held to Maturity Securities - Estimated Fair Value | 2,868 | 3,478 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available for Sale Securities - Amortized Cost | 34,676 | 43,601 |
Available for Sale Securities - Gross Unrealized Gains | 5 | 44 |
Available for Sale Securities - Gross Unrealized Losses | 857 | 437 |
Available for Sale Securities - Estimated Fair Value | 33,824 | 43,208 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for Sale Securities - Amortized Cost | 105,616 | 114,960 |
Available for Sale Securities - Gross Unrealized Gains | 263 | 562 |
Available for Sale Securities - Gross Unrealized Losses | 2,450 | 1,273 |
Available for Sale Securities - Estimated Fair Value | 103,429 | 114,249 |
Held to Maturity Securities - Amortized Cost | 2,837 | 3,364 |
Held to Maturity Securities - Gross Unrealized Gains | 31 | 114 |
Held to Maturity Securities - Gross Unrealized Losses | 0 | 0 |
Held to Maturity Securities - Estimated Fair Value | 2,868 | 3,478 |
Residential Mortgage Backed Securities [Member] | ||
Available for Sale Securities - Amortized Cost | 178,426 | 195,605 |
Available for Sale Securities - Gross Unrealized Gains | 242 | 523 |
Available for Sale Securities - Gross Unrealized Losses | 5,830 | 2,735 |
Available for Sale Securities - Estimated Fair Value | 172,838 | 193,393 |
Commercial Mortgage Backed Securities [Member] | ||
Available for Sale Securities - Amortized Cost | 49,387 | 50,518 |
Available for Sale Securities - Gross Unrealized Gains | 42 | |
Available for Sale Securities - Gross Unrealized Losses | 2,478 | 1,208 |
Available for Sale Securities - Estimated Fair Value | 46,909 | 49,352 |
Asset-backed Securities [Member] | ||
Available for Sale Securities - Amortized Cost | 15,493 | 15,569 |
Available for Sale Securities - Gross Unrealized Gains | 32 | 9 |
Available for Sale Securities - Gross Unrealized Losses | 26 | 4 |
Available for Sale Securities - Estimated Fair Value | 15,499 | 15,574 |
Corporate Debt Securities [Member] | ||
Available for Sale Securities - Amortized Cost | 7,495 | 7,578 |
Available for Sale Securities - Gross Unrealized Gains | 22 | 1 |
Available for Sale Securities - Gross Unrealized Losses | 37 | 37 |
Available for Sale Securities - Estimated Fair Value | $ 7,480 | $ 7,542 |
Note 7 - Investment Securitie46
Note 7 - Investment Securities - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Available-for-sale, amortized cost, due in one year or less | $ 19,847 | |
Available-for-sale, estimated fair value, due in one year or less | 19,828 | |
Held-to-maturity, amortized cost, due in one year or less | 0 | |
Held-to-maturity, estimated fair value, due in one year or less | 0 | |
Available-for-sale, amortized cost, due after one year through five years | 53,443 | |
Available-for-sale, estimated fair value, due after one year through five years | 52,717 | |
Held-to-maturity, amortized cost, due after one year through five years | 0 | |
Held-to-maturity, estimated fair value, due after one year through five years | 0 | |
Available-for-sale, amortized cost, due after five years through ten years | 51,363 | |
Available-for-sale, estimated fair value, due after five years through ten years | 49,493 | |
Held-to-maturity, amortized cost, due after five years through ten years | 732 | |
Held-to-maturity, estimated fair value, due after five years through ten years | 748 | |
Available-for-sale, amortized cost, due after ten years | 38,627 | |
Available-for-sale, estimated fair value, due after ten years | 38,194 | |
Held-to-maturity, amortized cost, due after ten years | 2,105 | |
Held-to-maturity, estimated fair value, due after ten years | 2,120 | |
Available-for-sale, amortized cost, mortgage-backed securities | 227,813 | |
Available-for-sale, estimated fair value, mortgage-backed securities | 219,747 | |
Held-to-maturity, amortized cost, mortgage-backed securities | 0 | |
Held-to-maturity, estimated fair value, mortgage-backed securities | 0 | |
Available-for-sale, amortized cost | 391,093 | $ 427,831 |
Available-for-sale, estimated fair value | 379,979 | 423,318 |
Held-to-maturity, amortized cost | 2,837 | 3,364 |
Held-to-maturity, estimated fair value | $ 2,868 | $ 3,478 |
Note 7 - Investment Securitie47
Note 7 - Investment Securities - Gross Realized Gains and Losses on the Sale of Available for Sale Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Gross realized gains | $ 0 | $ 0 | |||
Gross realized losses | 0 | 1 | 10 | ||
Net realized loss | [1] | $ 0 | $ (1) | $ 0 | $ (10) |
[1] | Not within the scope of ASC Topic 606. |
Note 7 - Investment Securitie48
Note 7 - Investment Securities - Investment Securities With Unrealized Losses Not Recognized In Income (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Less than 12 Months Fair Value | $ 156,063 | $ 145,433 |
Less than 12 Months Unrealized Losses | 4,014 | 1,039 |
12 Months or More Fair Value | 178,869 | 193,588 |
12 Months or More Unrealized Losses | 7,664 | 4,655 |
Total Fair Value | 334,932 | 339,021 |
Total Unrealized Losses | 11,678 | 5,694 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Less than 12 Months Fair Value | 10,175 | 11,544 |
Less than 12 Months Unrealized Losses | 282 | 43 |
12 Months or More Fair Value | 22,987 | 25,298 |
12 Months or More Unrealized Losses | 575 | 394 |
Total Fair Value | 33,162 | 36,842 |
Total Unrealized Losses | 857 | 437 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 Months Fair Value | 50,261 | 40,402 |
Less than 12 Months Unrealized Losses | 1,051 | 413 |
12 Months or More Fair Value | 33,147 | 33,965 |
12 Months or More Unrealized Losses | 1,399 | 860 |
Total Fair Value | 83,408 | 74,367 |
Total Unrealized Losses | 2,450 | 1,273 |
Residential Mortgage Backed Securities [Member] | ||
Less than 12 Months Fair Value | 74,287 | 77,312 |
Less than 12 Months Unrealized Losses | 2,010 | 481 |
12 Months or More Fair Value | 90,087 | 99,986 |
12 Months or More Unrealized Losses | 3,820 | 2,254 |
Total Fair Value | 164,374 | 177,298 |
Total Unrealized Losses | 5,830 | 2,735 |
Commercial Mortgage Backed Securities [Member] | ||
Less than 12 Months Fair Value | 14,509 | 7,758 |
Less than 12 Months Unrealized Losses | 611 | 62 |
12 Months or More Fair Value | 32,400 | 34,139 |
12 Months or More Unrealized Losses | 1,867 | 1,146 |
Total Fair Value | 46,909 | 41,897 |
Total Unrealized Losses | 2,478 | 1,208 |
Asset-backed Securities [Member] | ||
Less than 12 Months Fair Value | 3,729 | 1,166 |
Less than 12 Months Unrealized Losses | 26 | 4 |
12 Months or More Fair Value | ||
12 Months or More Unrealized Losses | ||
Total Fair Value | 3,729 | 1,166 |
Total Unrealized Losses | 26 | 4 |
Corporate Debt Securities [Member] | ||
Less than 12 Months Fair Value | 3,102 | 7,251 |
Less than 12 Months Unrealized Losses | 34 | 36 |
12 Months or More Fair Value | 248 | 200 |
12 Months or More Unrealized Losses | 3 | 1 |
Total Fair Value | 3,350 | 7,451 |
Total Unrealized Losses | $ 37 | $ 37 |
Note 8 - Loans and Allowance 49
Note 8 - Loans and Allowance for Loan Losses (Details Textual) xbrli-pure in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2018USD ($) | Jun. 30, 2017 | Dec. 31, 2017USD ($) | |
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 1,700 | $ 1,800 | |
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 |
Note 8 - Loans and Allowance 50
Note 8 - Loans and Allowance for Loan Losses - Major Classifications of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loan receivable | $ 1,064,215 | $ 1,035,263 |
Less unearned income | 0 | 0 |
Loans, net of unearned income | 1,064,215 | 1,035,263 |
Real Estate Portfolio Segment [Member] | ||
Loans, net of unearned income | 935,975 | 916,806 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Loan receivable | 128,183 | 129,181 |
Loans, net of unearned income | 128,183 | 129,181 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Loan receivable | 350,778 | 355,304 |
Loans, net of unearned income | 350,778 | 355,304 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Loan receivable | 457,014 | 432,321 |
Loans, net of unearned income | 457,014 | 432,321 |
Commercial Portfolio Segment [Member] | ||
Loans, net of unearned income | 120,978 | 110,542 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loan receivable | 87,224 | 63,417 |
Loans, net of unearned income | 87,224 | 63,417 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | ||
Loan receivable | 17,686 | 27,209 |
Loans, net of unearned income | 17,686 | 27,209 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | ||
Loan receivable | 16,068 | 19,916 |
Loans, net of unearned income | 16,068 | 19,916 |
Consumer Portfolio Segment [Member] | ||
Loans, net of unearned income | 7,262 | 7,915 |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | ||
Loan receivable | 4,215 | 4,853 |
Loans, net of unearned income | 4,215 | 4,853 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||
Loan receivable | 3,047 | 3,062 |
Loans, net of unearned income | $ 3,047 | $ 3,062 |
Note 8 - Loans and Allowance 51
Note 8 - Loans and Allowance for Loan Losses - Activity In the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Balance, beginning of period | $ 9,748 | $ 9,507 | $ 9,783 | $ 9,344 |
Provision for loan losses | 127 | (499) | (134) | 81 |
Recoveries | 294 | 423 | 682 | 500 |
Loans charged off | (168) | (209) | (330) | (703) |
Balance, end of period | 10,001 | 9,222 | 10,001 | 9,222 |
Real Estate Portfolio Segment [Member] | ||||
Balance, beginning of period | 8,601 | 8,184 | 8,509 | 8,205 |
Provision for loan losses | (148) | (546) | (339) | (150) |
Recoveries | 264 | 398 | 605 | 415 |
Loans charged off | (88) | (75) | (146) | (509) |
Balance, end of period | 8,629 | 7,961 | 8,629 | 7,961 |
Commercial Portfolio Segment [Member] | ||||
Balance, beginning of period | 836 | 864 | 951 | 854 |
Provision for loan losses | 296 | 135 | 249 | 128 |
Recoveries | 17 | 17 | 37 | 66 |
Loans charged off | (65) | (116) | (153) | (148) |
Balance, end of period | 1,084 | 900 | 1,084 | 900 |
Consumer Portfolio Segment [Member] | ||||
Balance, beginning of period | 311 | 459 | 323 | 285 |
Provision for loan losses | (21) | (88) | (44) | 103 |
Recoveries | 13 | 8 | 40 | 19 |
Loans charged off | (15) | (18) | (31) | (46) |
Balance, end of period | $ 288 | $ 361 | $ 288 | $ 361 |
Note 8 - Loans and Allowance 52
Note 8 - Loans and Allowance for Loan Losses - Individually Impaired Loans by Class of Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Unpaid principal balance | $ 22,634 | $ 22,634 | $ 23,685 | ||
Recorded investment with no allowance | 6,654 | 6,654 | 7,182 | ||
Recorded investment with allowance | 15,435 | 15,435 | 15,959 | ||
Total recorded investment | 22,089 | 22,089 | 23,141 | ||
Allowance for loan losses allocated | 3,042 | 3,042 | 3,182 | ||
Average | 23,119 | $ 40,164 | 23,338 | $ 40,516 | |
Interest income recognized | 288 | 498 | 579 | 1,006 | |
Cash basis interest recognized | 284 | 496 | 566 | 995 | |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | |||||
Unpaid principal balance | 3,397 | 3,397 | 4,076 | ||
Recorded investment with no allowance | 1,428 | 1,428 | 1,746 | ||
Recorded investment with allowance | 1,594 | 1,594 | 1,955 | ||
Total recorded investment | 3,022 | 3,022 | 3,701 | ||
Allowance for loan losses allocated | 323 | 323 | 402 | ||
Average | 3,463 | 4,216 | 3,539 | 5,226 | |
Interest income recognized | 44 | 58 | 90 | 134 | |
Cash basis interest recognized | 44 | 58 | 88 | 133 | |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | |||||
Unpaid principal balance | 9,952 | 9,952 | 10,112 | ||
Recorded investment with no allowance | 3,079 | 3,079 | 3,233 | ||
Recorded investment with allowance | 6,871 | 6,871 | 6,877 | ||
Total recorded investment | 9,950 | 9,950 | 10,110 | ||
Allowance for loan losses allocated | 2,018 | 2,018 | 1,973 | ||
Average | 10,122 | 11,080 | 10,232 | 10,395 | |
Interest income recognized | 137 | 136 | 273 | 254 | |
Cash basis interest recognized | 135 | 134 | 267 | 251 | |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | |||||
Unpaid principal balance | 8,614 | 8,614 | 8,737 | ||
Recorded investment with no allowance | 2,147 | 2,147 | 2,203 | ||
Recorded investment with allowance | 6,299 | 6,299 | 6,367 | ||
Total recorded investment | 8,446 | 8,446 | 8,570 | ||
Allowance for loan losses allocated | 295 | 295 | 319 | ||
Average | 8,835 | 24,108 | 8,861 | 24,098 | |
Interest income recognized | 97 | 296 | 197 | 598 | |
Cash basis interest recognized | 95 | 296 | 192 | 592 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Unpaid principal balance | 383 | 383 | 448 | ||
Recorded investment with no allowance | 0 | 0 | 0 | ||
Recorded investment with allowance | 383 | 383 | 448 | ||
Total recorded investment | 383 | 383 | 448 | ||
Allowance for loan losses allocated | 211 | 211 | 270 | ||
Average | 389 | 409 | 391 | 454 | |
Interest income recognized | 5 | 4 | 10 | 11 | |
Cash basis interest recognized | 5 | 4 | 10 | 11 | |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | |||||
Unpaid principal balance | 3 | 3 | |||
Recorded investment with no allowance | |||||
Recorded investment with allowance | 3 | 3 | |||
Total recorded investment | 3 | 3 | |||
Allowance for loan losses allocated | 3 | 3 | |||
Average | 4 | 26 | 2 | 13 | |
Interest income recognized | |||||
Cash basis interest recognized | |||||
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | |||||
Unpaid principal balance | 285 | 285 | 312 | ||
Recorded investment with no allowance | 0 | 0 | 0 | ||
Recorded investment with allowance | 285 | 285 | 312 | ||
Total recorded investment | 285 | 285 | 312 | ||
Allowance for loan losses allocated | 192 | 192 | $ 218 | ||
Average | 306 | 325 | 313 | 330 | |
Interest income recognized | 5 | 4 | 9 | 9 | |
Cash basis interest recognized | $ 5 | $ 4 | $ 9 | $ 8 |
Note 8 - Loans and Allowance 53
Note 8 - Loans and Allowance for Loan Losses - Allowance for Loan Losses and the Recorded Investment In Loans by Impairment Method (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Individually evaluated for impairment | $ 3,042 | $ 3,182 | ||||
Collectively evaluated for impairment | 6,959 | 6,601 | ||||
Total ending allowance balance | 10,001 | $ 9,748 | 9,783 | $ 9,222 | $ 9,507 | $ 9,344 |
Loans individually evaluated for impairment | 22,089 | 23,141 | ||||
Loans collectively evaluated for impairment | 1,042,126 | 1,012,122 | ||||
Loans, net of unearned income | 1,064,215 | 1,035,263 | ||||
Real Estate Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 2,636 | 2,694 | ||||
Collectively evaluated for impairment | 5,993 | 5,815 | ||||
Total ending allowance balance | 8,629 | 8,601 | 8,509 | 7,961 | 8,184 | 8,205 |
Loans individually evaluated for impairment | 21,418 | 22,381 | ||||
Loans collectively evaluated for impairment | 914,557 | 894,425 | ||||
Loans, net of unearned income | 935,975 | 916,806 | ||||
Commercial Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 214 | 270 | ||||
Collectively evaluated for impairment | 870 | 681 | ||||
Total ending allowance balance | 1,084 | 836 | 951 | 900 | 864 | 854 |
Loans individually evaluated for impairment | 386 | 448 | ||||
Loans collectively evaluated for impairment | 120,592 | 110,094 | ||||
Loans, net of unearned income | 120,978 | 110,542 | ||||
Consumer Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 192 | 218 | ||||
Collectively evaluated for impairment | 96 | 105 | ||||
Total ending allowance balance | 288 | $ 311 | 323 | $ 361 | $ 459 | $ 285 |
Loans individually evaluated for impairment | 285 | 312 | ||||
Loans collectively evaluated for impairment | 6,977 | 7,603 | ||||
Loans, net of unearned income | $ 7,262 | $ 7,915 |
Note 8 - Loans and Allowance 54
Note 8 - Loans and Allowance for Loan Losses - Recorded Investment In Nonperforming Loans by Class of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Nonaccrual | $ 4,102 | $ 3,887 |
Restructured Loans | 11,365 | 11,482 |
Loans Past Due 90 Days or More and Still Accruing | 0 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Nonaccrual | 149 | 151 |
Restructured Loans | 1,595 | 1,955 |
Loans Past Due 90 Days or More and Still Accruing | 0 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Nonaccrual | 1,441 | 1,763 |
Restructured Loans | 5,618 | 5,326 |
Loans Past Due 90 Days or More and Still Accruing | 0 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Nonaccrual | 2,355 | 1,752 |
Restructured Loans | 3,660 | 3,703 |
Loans Past Due 90 Days or More and Still Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Nonaccrual | 11 | 53 |
Restructured Loans | 367 | 370 |
Loans Past Due 90 Days or More and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||
Nonaccrual | 146 | 168 |
Restructured Loans | 125 | 128 |
Loans Past Due 90 Days or More and Still Accruing | $ 0 | $ 0 |
Note 8 - Loans and Allowance 55
Note 8 - Loans and Allowance for Loan Losses - Aging Analysis of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans, past due | $ 3,095 | $ 3,806 |
Loans, current | 1,061,120 | 1,031,457 |
Loans, net of unearned income | 1,064,215 | 1,035,263 |
Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 1,147 | 2,233 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 1,948 | 1,573 |
Real Estate Portfolio Segment [Member] | ||
Loans, net of unearned income | 935,975 | 916,806 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Loans, past due | 102 | 102 |
Loans, current | 128,081 | 129,079 |
Loans, net of unearned income | 128,183 | 129,181 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 15 | 15 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 87 | 87 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Loans, past due | 870 | 1,698 |
Loans, current | 349,908 | 353,606 |
Loans, net of unearned income | 350,778 | 355,304 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 630 | 1,160 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 240 | 538 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Loans, past due | 2,117 | 1,914 |
Loans, current | 454,897 | 430,407 |
Loans, net of unearned income | 457,014 | 432,321 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 496 | 966 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 1,621 | 948 |
Commercial Portfolio Segment [Member] | ||
Loans, net of unearned income | 120,978 | 110,542 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans, past due | 62 | |
Loans, current | 87,224 | 63,355 |
Loans, net of unearned income | 87,224 | 63,417 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 62 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | ||
Loans, past due | 0 | 0 |
Loans, current | 17,686 | 27,209 |
Loans, net of unearned income | 17,686 | 27,209 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | ||
Loans, past due | 0 | 21 |
Loans, current | 16,068 | 19,895 |
Loans, net of unearned income | 16,068 | 19,916 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 0 | 21 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans, net of unearned income | 7,262 | 7,915 |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | ||
Loans, past due | 0 | 0 |
Loans, current | 4,215 | 4,853 |
Loans, net of unearned income | 4,215 | 4,853 |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||
Loans, past due | 6 | 9 |
Loans, current | 3,041 | 3,053 |
Loans, net of unearned income | 3,047 | 3,062 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 6 | 9 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | $ 0 | $ 0 |
Note 8 - Loans and Allowance 56
Note 8 - Loans and Allowance for Loan Losses - Risk Category of Non Consumer Loans by Class (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans, net of unearned income | $ 1,064,215 | $ 1,035,263 |
Real Estate Portfolio Segment [Member] | ||
Loans, net of unearned income | 935,975 | 916,806 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Loans, net of unearned income | 128,183 | 129,181 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Loans, net of unearned income | 350,778 | 355,304 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Loans, net of unearned income | 457,014 | 432,321 |
Commercial Portfolio Segment [Member] | ||
Loans, net of unearned income | 120,978 | 110,542 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans, net of unearned income | 87,224 | 63,417 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | ||
Loans, net of unearned income | 17,686 | 27,209 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | ||
Loans, net of unearned income | 16,068 | 19,916 |
Pass [Member] | Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Loans, net of unearned income | 124,342 | 124,926 |
Pass [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Loans, net of unearned income | 326,533 | 330,401 |
Pass [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Loans, net of unearned income | 440,095 | 414,663 |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans, net of unearned income | 86,390 | 62,490 |
Pass [Member] | Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | ||
Loans, net of unearned income | 17,686 | 27,209 |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial Other [Member] | ||
Loans, net of unearned income | 16,051 | 19,898 |
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Loans, net of unearned income | 668 | 396 |
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Loans, net of unearned income | 8,975 | 9,196 |
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Loans, net of unearned income | 6,216 | 7,556 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans, net of unearned income | 448 | 474 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | ||
Loans, net of unearned income | 0 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial Other [Member] | ||
Loans, net of unearned income | 14 | 18 |
Substandard [Member] | Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Loans, net of unearned income | 3,173 | 3,859 |
Substandard [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Loans, net of unearned income | 15,270 | 15,707 |
Substandard [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Loans, net of unearned income | 10,703 | 10,102 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans, net of unearned income | 386 | 453 |
Substandard [Member] | Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | ||
Loans, net of unearned income | 0 | 0 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial Other [Member] | ||
Loans, net of unearned income | 3 | 0 |
Doubtful [Member] | Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Commercial Other [Member] | ||
Loans, net of unearned income | $ 0 | $ 0 |
Note 8 - Loans and Allowance 57
Note 8 - Loans and Allowance for Loan Losses - Risk Category of Consumer Loans by Class (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans, net of unearned income | $ 1,064,215 | $ 1,035,263 |
Consumer Portfolio Segment [Member] | ||
Loans, net of unearned income | 7,262 | 7,915 |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | ||
Loans, net of unearned income | 4,215 | 4,853 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||
Loans, net of unearned income | 3,047 | 3,062 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Consumer Secured [Member] | ||
Loans, net of unearned income | 4,215 | 4,853 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||
Loans, net of unearned income | 2,776 | 2,766 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Consumer Secured [Member] | ||
Loans, net of unearned income | 0 | |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||
Loans, net of unearned income | $ 271 | $ 296 |
Note 9 - Other Real Estate Ow58
Note 9 - Other Real Estate Owned (Details Textual) $ in Thousands | Jun. 30, 2018USD ($) |
Mortgage Loans in Process of Foreclosure, Amount | $ 601 |
Note 9 - Other Real Estate Ow59
Note 9 - Other Real Estate Owned - Other Real Estate Owned (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Other Real Estate Owned | $ 4,031 | $ 5,489 | $ 6,187 | $ 10,673 |
Construction and Land Development OREO [Member] | ||||
Other Real Estate Owned | 3,050 | 4,433 | ||
Residential Real Estate OREO [Member] | ||||
Other Real Estate Owned | 157 | |||
Farmland and Other Commercial Enterprises OREO [Member] | ||||
Other Real Estate Owned | 981 | 899 | ||
OREO [Member] | ||||
Other Real Estate Owned | $ 4,031 | $ 5,489 |
Note 9 - Other Real Estate Ow60
Note 9 - Other Real Estate Owned - OREO Activity (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Beginning balance | $ 5,489 | $ 10,673 |
Transfers from loans and other increases | 126 | 345 |
Proceeds from sales | (1,013) | (4,553) |
(Loss) gain on sales, net | (76) | 72 |
Write downs and other decreases, net | (495) | (350) |
Ending balance | $ 4,031 | $ 6,187 |
Note 10 - Securities Sold Und61
Note 10 - Securities Sold Under Agreements to Repurchase - Maturity of Short and Long-term Repurchase Agreements (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Short and long-term purchase agreements | $ 33,532 | $ 34,252 |
Residential Mortgage Backed Securities [Member] | ||
Short and long-term purchase agreements | 33,532 | 34,252 |
Maturity Overnight [Member] | ||
Short and long-term purchase agreements | 31,873 | 32,341 |
Maturity Overnight [Member] | Residential Mortgage Backed Securities [Member] | ||
Short and long-term purchase agreements | 31,873 | 32,341 |
Maturity Less than 30 Days [Member] | ||
Short and long-term purchase agreements | 1,400 | 1,200 |
Maturity Less than 30 Days [Member] | Residential Mortgage Backed Securities [Member] | ||
Short and long-term purchase agreements | 1,400 | 1,200 |
Maturity 30 to 90 Days [Member] | ||
Short and long-term purchase agreements | 0 | 0 |
Maturity 30 to 90 Days [Member] | Residential Mortgage Backed Securities [Member] | ||
Short and long-term purchase agreements | 0 | 0 |
Maturity 90 Days to One Year [Member] | ||
Short and long-term purchase agreements | 259 | 454 |
Maturity 90 Days to One Year [Member] | Residential Mortgage Backed Securities [Member] | ||
Short and long-term purchase agreements | 259 | 454 |
Maturity Over One Year to Four Years [Member] | ||
Short and long-term purchase agreements | 257 | |
Maturity Over One Year to Four Years [Member] | Residential Mortgage Backed Securities [Member] | ||
Short and long-term purchase agreements | $ 257 |
Note 11 - Postretirement Medi62
Note 11 - Postretirement Medical Benefits (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Mar. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment | $ 417 | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Prior Service Costs Recognized Due to Curtailment | 66 | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment, Net of Prior Service Costs Recognized | $ 351 | $ 0 | $ 351 | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 459 | 459 | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 98 | $ 194 | ||
Plan 2 [Member] | ||||
Employee Service Requirement | 20 years | |||
Employee Age Requirement | 55 years | |||
Contributions Plan 2 | 50.00% | 50.00% | ||
Plan 1 [Member] | ||||
Company Contributions Plan 1 | 100.00% | 100.00% |
Note 11 - Postretirement Medi63
Note 11 - Postretirement Medical Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Curtailment gain recognized | $ (417) | ||||
Postretirement Health Coverage [Member] | |||||
Service cost | $ 141 | $ 137 | $ 281 | $ 283 | |
Interest cost | 152 | 164 | 305 | 332 | |
Curtailment gain recognized | 0 | (351) | |||
Recognized prior service cost | 0 | 8 | |||
Net periodic benefit cost | $ 293 | $ 301 | $ 586 | $ 272 |
Note 12 - Regulatory Matters -
Note 12 - Regulatory Matters - Regulatory Ratios of the Consolidated Company and Its Subsidiary Banks (Details) | Jun. 30, 2018 | Dec. 31, 2017 | |
Common Equity Tier 1 Risk-based Capital | [1] | 17.13% | 16.56% |
Tier 1 Risk-based Capital | [1] | 19.82% | 19.30% |
Total Risk-based Capital | [1] | 20.65% | 20.12% |
Tier 1 Leverage | [2] | 14.41% | 13.75% |
Common Equity Tier 1 Risk-based Capital, regulatory minimum | [1] | 4.50% | 4.50% |
Tier 1 Risk-based Capital, regulatory minimum | [1] | 6.00% | 6.00% |
Total Risk-based Capital, regulatory minimum | [1] | 8.00% | 8.00% |
Tier 1 Leverage, regulatory minimum | [2] | 4.00% | 4.00% |
Common Equity Tier 1 Risk-based Capital, well-capitalized status | [1] | 6.50% | 6.50% |
Tier 1 Risk-based Capital, well-capitalized status | [1] | 8.00% | 8.00% |
Total Risk-based Capital, well-capitalized status | [1] | 10.00% | 10.00% |
Tier 1 Leverage, well-capitalized status | [2] | 5.00% | 5.00% |
United Bank and Capital Trust Company [Member] | |||
Common Equity Tier 1 Risk-based Capital | [1] | 14.48% | 14.05% |
Tier 1 Risk-based Capital | [1] | 14.48% | 14.05% |
Total Risk-based Capital | [1] | 15.32% | 14.88% |
Tier 1 Leverage | [2] | 10.65% | 10.13% |
[1] | Common Equity Tier 1 Risked-based, Tier 1 Risk-based, and Total Risk-based Capital ratios are computed by dividing a bank's Common Equity Tier 1, Tier 1 or Total Capital, as defined by regulation, by a risk-weighted sum of the bank's assets, with the risk weighting determined by general standards established by regulation. | ||
[2] | Tier 1 Leverage ratio is computed by dividing a bank's Tier 1 Capital by its total quarterly average assets, as defined by regulation. |
Note 13 - Fair Value Measurem65
Note 13 - Fair Value Measurements (Details Textual) - USD ($) $ in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, Fair Value Disclosure | $ 38 | $ 36.7 |
Note 13 - Fair Value Measurem66
Note 13 - Fair Value Measurements - Available for Sale Investment Securities Measured At Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Available for Sale Debt Securities - Estimated Fair Value | $ 379,979 | $ 423,318 |
Equity Securities - Fair Value | 1,573 | 935 |
Fair Value, Inputs, Level 1 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 379,979 | 423,318 |
Fair Value, Inputs, Level 3 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 33,824 | 43,208 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 33,824 | 43,208 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 103,429 | 114,249 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 103,429 | 114,249 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
Residential Mortgage Backed Securities [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 172,838 | 193,393 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 172,838 | 193,393 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
Commercial Mortgage Backed Securities [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 46,909 | 49,352 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 46,909 | 49,352 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
Asset-backed Securities [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 15,499 | 15,574 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 15,499 | 15,574 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
Corporate Debt Securities [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 7,480 | 7,542 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 7,480 | 7,542 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for Sale Debt Securities - Estimated Fair Value | 0 | 0 |
Mutual Funds and Equity Securities [Member] | ||
Equity Securities - Fair Value | 1,573 | 935 |
Mutual Funds and Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Equity Securities - Fair Value | 1,573 | 935 |
Mutual Funds and Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Equity Securities - Fair Value | 0 | 0 |
Mutual Funds and Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Equity Securities - Fair Value | $ 0 | $ 0 |
Note 13 - Fair Value Measurem67
Note 13 - Fair Value Measurements - Assets Measured At Fair Value On a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Collateral-dependent impaired loans, fair value | $ 5,434 | $ 8,885 |
OREO, fair value | 1,074 | 4,446 |
Fair Value, Inputs, Level 1 [Member] | ||
Collateral-dependent impaired loans, fair value | 0 | 0 |
OREO, fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Collateral-dependent impaired loans, fair value | 0 | 0 |
OREO, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Collateral-dependent impaired loans, fair value | 5,434 | 8,885 |
OREO, fair value | 1,074 | 4,446 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Collateral-dependent impaired loans, fair value | 1,271 | 1,553 |
OREO, fair value | 1,074 | 3,468 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Collateral-dependent impaired loans, fair value | 0 | 0 |
OREO, fair value | 0 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Collateral-dependent impaired loans, fair value | 0 | 0 |
OREO, fair value | 0 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Collateral-dependent impaired loans, fair value | 1,271 | 1,553 |
OREO, fair value | 1,074 | 3,468 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Collateral-dependent impaired loans, fair value | 4,163 | 4,687 |
OREO, fair value | 157 | |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Collateral-dependent impaired loans, fair value | 0 | 0 |
OREO, fair value | 0 | |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Collateral-dependent impaired loans, fair value | 0 | 0 |
OREO, fair value | 0 | |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Collateral-dependent impaired loans, fair value | $ 4,163 | 4,687 |
OREO, fair value | 157 | |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Collateral-dependent impaired loans, fair value | 2,645 | |
OREO, fair value | 821 | |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Collateral-dependent impaired loans, fair value | 0 | |
OREO, fair value | 0 | |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Collateral-dependent impaired loans, fair value | 0 | |
OREO, fair value | 0 | |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Collateral-dependent impaired loans, fair value | 2,645 | |
OREO, fair value | $ 821 |
Note 13 - Fair Value Measurem68
Note 13 - Fair Value Measurements - Fair Value Adjustments for Assets Measured On a Nonrecurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net decrease in fair value: | ||||
Fair value adjustments | $ 484 | $ 163 | $ 526 | $ 229 |
Impaired Loans [Member] | ||||
Net decrease in fair value: | ||||
Fair value adjustments | 22 | 25 | 47 | 27 |
OREO [Member] | ||||
Net decrease in fair value: | ||||
Fair value adjustments | $ 462 | $ 138 | $ 479 | $ 202 |
Note 13 - Fair Value Measurem69
Note 13 - Fair Value Measurements - Quantitative Information About Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements (Details) - Fair Value, Inputs, Level 3 [Member] - Valuation, Market Approach [Member] $ in Thousands | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Collateral-dependent impaired loans, fair value | $ 5,434 | $ 8,885 |
OREO, fair value | $ 1,074 | $ 4,446 |
Measurement Input, Discount for Lack of Marketability [Member] | ||
Collateral-dependent impaired loans, measurement input | ||
Measurement Input, Discount for Lack of Marketability [Member] | Weighted Average [Member] | ||
Collateral-dependent impaired loans, measurement input | 0.031 | |
OREO, measurement input | 0.053 | 0.04 |
Measurement Input, Discount for Lack of Marketability [Member] | Minimum [Member] | ||
Collateral-dependent impaired loans, measurement input | 0 | |
OREO, measurement input | 0 | 0 |
Measurement Input, Discount for Lack of Marketability [Member] | Maximum [Member] | ||
Collateral-dependent impaired loans, measurement input | 0.228 | |
OREO, measurement input | 0.06 | 0.717 |
Note 13 - Fair Value Measurem70
Note 13 - Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Held to maturity investment securities | $ 2,868 | $ 3,478 |
Reported Value Measurement [Member] | ||
Assets | ||
Cash and cash equivalents | 93,246 | 120,408 |
Held to maturity investment securities | 2,837 | 3,364 |
Loans, net | 1,054,214 | 1,025,480 |
Accrued interest receivable | 4,797 | 4,935 |
Federal Home Loan Bank and Federal Reserve Bank Stock | 12,996 | 13,235 |
Liabilities | ||
Deposits | 1,334,787 | 1,379,903 |
Securities sold under agreements to repurchase | 33,532 | 34,252 |
Federal Home Loan Bank advances | 3,392 | 3,479 |
Subordinated notes payable to unconsolidated trusts | 33,506 | 33,506 |
Accrued interest payable | 396 | 261 |
Estimate of Fair Value Measurement [Member] | ||
Assets | ||
Cash and cash equivalents | 93,246 | 120,408 |
Held to maturity investment securities | 2,868 | 3,478 |
Loans, net | 1,035,437 | 1,012,959 |
Accrued interest receivable | 4,797 | 4,935 |
Federal Home Loan Bank and Federal Reserve Bank Stock | 12,996 | 13,235 |
Liabilities | ||
Deposits | 1,334,390 | 1,380,122 |
Securities sold under agreements to repurchase | 33,534 | 34,257 |
Federal Home Loan Bank advances | 3,439 | 3,546 |
Subordinated notes payable to unconsolidated trusts | 24,301 | 22,709 |
Accrued interest payable | 396 | 261 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Cash and cash equivalents | 93,246 | 120,408 |
Held to maturity investment securities | 0 | 0 |
Loans, net | 0 | |
Accrued interest receivable | 0 | 0 |
Federal Home Loan Bank and Federal Reserve Bank Stock | 0 | 0 |
Liabilities | ||
Deposits | 1,135,600 | 1,157,045 |
Securities sold under agreements to repurchase | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Subordinated notes payable to unconsolidated trusts | 0 | 0 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Cash and cash equivalents | 0 | 0 |
Held to maturity investment securities | 2,868 | 3,478 |
Loans, net | 0 | |
Accrued interest receivable | 4,797 | 4,935 |
Federal Home Loan Bank and Federal Reserve Bank Stock | 0 | 0 |
Liabilities | ||
Deposits | 0 | 0 |
Securities sold under agreements to repurchase | 33,534 | 34,257 |
Federal Home Loan Bank advances | 3,439 | 3,546 |
Subordinated notes payable to unconsolidated trusts | 0 | 0 |
Accrued interest payable | 396 | 261 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Cash and cash equivalents | 0 | 0 |
Held to maturity investment securities | 0 | 0 |
Loans, net | 1,035,437 | 1,012,959 |
Accrued interest receivable | 0 | 0 |
Federal Home Loan Bank and Federal Reserve Bank Stock | 12,996 | 13,235 |
Liabilities | ||
Deposits | 198,790 | 223,077 |
Securities sold under agreements to repurchase | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Subordinated notes payable to unconsolidated trusts | 24,301 | 22,709 |
Accrued interest payable | $ 0 | $ 0 |
Note 15 - Subsequent Event (Det
Note 15 - Subsequent Event (Details Textual) - USD ($) | Jul. 23, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Assets, Total | $ 1,631,962,000 | $ 1,673,872,000 | |
Merger [Member] | Subsequent Event [Member] | |||
Business Combination, Rights to Stockholders Upon Merger | 1.053 | ||
Business Combination, Rights to Stockholders, Cash Received per Share | $ 5 | ||
Business Combination, Consideration Transferred, Total | $ 378,200,000 | ||
Business Combination, Contingent Consideration, Merger Agreement Termination Fee | $ 12,000,000 | ||
WesBanco [Member] | |||
Assets, Total | $ 10,900,000,000 |