Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | May. 11, 2016 | |
Entity Registrant Name | UNITED SECURITY BANCSHARES INC | |
Entity Central Index Key | 717,806 | |
Trading Symbol | usbi | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 6,043,292 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Interim Condensed Consolidated
Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 8,479 | $ 7,088 |
Interest-bearing deposits in banks | 22,007 | 36,984 |
Total cash and cash equivalents | 30,486 | $ 44,072 |
Federal funds sold | 3,000 | |
Investment securities available-for-sale, at fair value | 199,488 | $ 198,843 |
Investment securities held-to-maturity, at amortized cost | 31,978 | 32,359 |
Federal Home Loan Bank stock, at cost | 730 | 1,025 |
Loans, net of allowance for loan losses of $3,375 and $3,781, respectively | 263,975 | 255,432 |
Premises and equipment, net | 15,058 | 12,084 |
Cash surrender value of bank-owned life insurance | 14,370 | 14,292 |
Accrued interest receivable | 1,756 | 1,833 |
Other real estate owned | 5,356 | 6,038 |
Other assets | 9,385 | 9,804 |
Total assets | 575,582 | 575,782 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Deposits | 485,537 | 479,258 |
Accrued interest expense | 179 | 180 |
Other liabilities | 6,693 | 6,960 |
Short-term borrowings | 446 | 7,354 |
Long-term debt | 5,000 | 5,000 |
Total liabilities | $ 497,855 | $ 498,752 |
Commitments and contingencies | ||
Shareholders’ equity: | ||
Common stock, par value $0.01 per share, 10,000,000 shares authorized; 7,329,060 shares issued; 6,038,554 shares outstanding | $ 73 | $ 73 |
Surplus | 10,649 | 10,558 |
Accumulated other comprehensive income, net of tax | 946 | 536 |
Retained earnings | 86,889 | 86,693 |
Less treasury stock: 1,290,506 shares at cost | (20,817) | (20,817) |
Noncontrolling interest | (13) | (13) |
Total shareholders’ equity | 77,727 | 77,030 |
Total liabilities and shareholders’ equity | $ 575,582 | $ 575,782 |
Interim Condensed Consolidated3
Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Loans, allowance for loan losses | $ 3,375 | $ 3,781 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 7,329,060 | 7,329,060 |
Common stock, shares outstanding (in shares) | 6,038,554 | 6,038,554 |
Treasury stock, shares (in shares) | 1,290,506 | 1,290,506 |
Interim Condensed Consolidated4
Interim Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Interest income: | ||
Interest and fees on loans | $ 6,053,000 | $ 6,135,000 |
Interest on investment securities | 1,143,000 | 1,186,000 |
Total interest income | 7,196,000 | 7,321,000 |
Interest expense: | ||
Interest on deposits | 523,000 | 607,000 |
Interest on borrowings | 12,000 | 7,000 |
Total interest expense | 535,000 | 614,000 |
Net interest income | 6,661,000 | 6,707,000 |
Provision (reduction in reserve) for loan losses | 167,000 | (166,000) |
Net interest income after provision (reduction in reserve) for loan losses | 6,494,000 | 6,873,000 |
Non-interest income: | ||
Service and other charges on deposit accounts | 417,000 | 454,000 |
Credit insurance income | 152,000 | 75,000 |
Other income | 420,000 | 762,000 |
Total non-interest income | 989,000 | 1,291,000 |
Non-interest expense: | ||
Salaries and employee benefits | 4,164,000 | 4,192,000 |
Net occupancy and equipment | 769,000 | 823,000 |
Other real estate/foreclosure expense, net | 117,000 | 220,000 |
Other expense | 2,016,000 | 1,742,000 |
Total non-interest expense | 7,066,000 | 6,977,000 |
Income before income taxes | 417,000 | 1,187,000 |
Provision for income taxes | 0 | 351,000 |
Net income | $ 317,000 | $ 836,000 |
Basic net income per share (in dollars per share) | $ 0.05 | $ 0.14 |
Diluted net income per share (in dollars per share) | 0.05 | 0.13 |
Dividends per share (in dollars per share) | $ 0.02 | $ 0.02 |
Interim Condensed Consolidated5
Interim Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Net income | $ 317 | $ 836 |
Other comprehensive income: | ||
Unrealized holding gains on securities available-for-sale arising during period, net of tax expense of $238 and $2, respectively | $ 410 | 4 |
Reclassification adjustment for net gains on available-for-sale securities realized in net income, net of tax of $0 and $103, respectively | (174) | |
Other comprehensive income (loss) | $ 410 | (170) |
Total comprehensive income | $ 727 | $ 666 |
Interim Condensed Consolidated6
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 317,000 | $ 836,000 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Depreciation and amortization | 232,000 | 213,000 |
Provision (reduction in reserve) for loan losses | 167,000 | (166,000) |
Deferred income tax provision | 97,000 | 350,000 |
Net gain on sale and prepayment of securities | (2,000) | (277,000) |
Stock-based compensation expense | 91,000 | 75,000 |
Net amortization of securities | 412,000 | 423,000 |
Net loss on premises and equipment and other real estate | 125,000 | 174,000 |
Changes in assets and liabilities: | ||
Decrease in accrued interest receivable | 77,000 | 294,000 |
Decrease in other assets | 67,000 | 883,000 |
Decrease in accrued interest expense | (1,000) | (13,000) |
Decrease in other liabilities | (267,000) | (207,000) |
Net cash provided by operating activities | 1,315,000 | $ 2,585,000 |
Cash flows from investing activities: | ||
Net increase in federal funds sold | (3,000,000) | |
Purchase of investment securities, available-for-sale | (11,912,000) | $ (29,589,000) |
Purchase of investment securities, held-to-maturity | $ (2,751,000) | (12,394,000) |
Proceeds from sales of investment securities, available-for-sale | 14,553,000 | |
Proceeds from maturities and prepayments of investment securities, available-for-sale | $ 11,546,000 | 9,853,000 |
Proceeds from maturities and prepayments of investment securities, held-to-maturity | 3,091,000 | 1,381,000 |
Net decrease (increase) in Federal Home Loan Bank stock | 295,000 | (3,000) |
Proceeds from the sale of premises and equipment and other real estate | 810,000 | 182,000 |
Net change in loan portfolio | (9,001,000) | 19,234,000 |
Purchases of premises and equipment | (3,229,000) | (1,403,000) |
Net cash provided by (used in) investing activities | (14,151,000) | 1,814,000 |
Cash flows from financing activities: | ||
Net increase (decrease) in customer deposits | 6,279,000 | (8,371,000) |
Increase in short-term borrowings | 92,000 | $ 244,000 |
Repayment of FHLB advances | (7,000,000) | |
Dividends paid | (121,000) | $ (121,000) |
Net cash used in financial activities | (750,000) | (8,248,000) |
Net decrease in cash and cash equivalents | (13,586,000) | (3,849,000) |
Cash and cash equivalents, beginning of period | 44,072,000 | 34,166,000 |
Cash and cash equivalents, end of period | 30,486,000 | 30,317,000 |
Cash paid for: | ||
Interest | $ 536,000 | 627,000 |
Income taxes | 6,000 | |
Non-cash transactions: | ||
Assets acquired in settlement of loans | $ 291,000 | $ 1,230,000 |
Note 1 - General
Note 1 - General | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. GENERAL The accompanying unaudited interim condensed consolidated financial statements include the accounts of United Security Bancshares, Inc. (“USBI”) and its subsidiaries (collectively, the “Company”). USBI is the parent holding company of First US Bank (the “Bank” or “FUSB”). The Bank operates a finance company, Acceptance Loan Company, Inc. (“ALC”). All significant intercompany transactions and accounts have been eliminated. The unaudited interim condensed consolidated financial statements, in the opinion of management, reflect all adjustments necessary for a fair presentation of consolidated financial position, results of operations and cash flows for the periods presented. Such adjustments are of a normal, recurring nature. The results of operations for any interim period are not necessarily indicative of results expected for the fiscal year ending December 31, 201 6. While certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), management believes that the disclosures herein are adequate to make the information presented not misleading. These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in USBI’s Annual Report on Form 10-K as of and for the year ended December 31, 2015. The accounting policies followed by the Company are set forth in Note 2, “Summary of Significant Accounting Policies,” of the Notes to Consolidated Financial Statements in USBI’s Annual Report on Form 10-K as of and for the year ended December 31, 2015. Certain amounts in the 2015 condensed consolidated financial statements have been reclassified to conform to the 2016 method of presentation. Included in these reclassifications was approximately $0.7 million that was reclassified from other liabilities to surplus on the Interim Condensed Consolidated Balance Sheet as of December 31, 2015 related to shares of stock that had been accrued as of the balance sheet date as deferred compensation for members of USBI's Board of Directors. |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 2. RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Update ("ASU") 2016-10, “ Revenue from Contracts with Customers (Topic 606)-Identifying Performance Obligations and Licensing.” Issued in April 2016, ASU 2016-10 clarifies ASC Topic 606, “Revenue from Contracts with Customers" “Revenue from Contracts with Customers (Topic 606),” ASU 2016-09, “ Compensation-Stock Compensation (Topic 718)-Improvements to Employee Share-Based Payment Accounting.” Issued in March 2016, ASU 2016-09 seeks to reduce complexity in accounting standards by simplifying several aspects of the accounting for share-based payment transactions, including (1) accounting for income taxes; (2) classification of excess tax benefits on the statement of cash flow; (3) forfeitures; (4) minimum statutory tax withholding requirements; (5) classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax withholding purposes; (6) the practical expedient for estimating the expected term; and (7) intrinsic value. The amendments of ASU 2016-09 are effective for interim and annual periods beginning after December 15, 2016. Management is currently evaluating the impact that this ASU will have on the Company’s consolidated financial statements. ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net).” ASC Topic 606, “Revenue from Contracts with Customers.” “Revenue from Contracts with Customers (Topic 606),” ASU 2016-05 , “Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.” ASU 2016-02, “Leases (Topic 842).” Issued in February 2016, ASU 2016-02 will require organizations that lease assets (lessees) to recognize on the balance sheet the assets and liabilities for the rights and obligations created by the lease for all leases with a term of more than 12 months. The recognition, measurement and presentation of expenses and cash flows arising from a lease are not significantly changed under ASU 2016-02. There will continue to be differentiation between finance leases and operating leases. For finance leases, a lessee will be required to (i) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial position; (ii) recognize interest on the lease liability separately from amortization of the right-of-use asset in the statement of income; and (iii) classify repayments of the principal portion of the lease liability within financing activities and payments of interest on the lease liability within operating activities on the statement of cash flows. For operating leases, a lessee will be required to (i) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial position; (ii) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis; and (iii) classify all cash payments within operating activities in the statement of cash flows. The accounting applied by the lessor in a lease transaction remains largely unchanged from previous U.S. GAAP. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact that this ASU will have on the Company’s consolidated financial statements. ASU 2016-01, “ Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (An Amendment of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification).” Issued in January 2016, ASU 2016-01 is intended to enhance the reporting model for financial instruments to provide users of financial statements with improved decision-making information. The amendments to ASU 2016-01 include: (i) requiring equity investments, except those accounted for under the equity method of accounting or those that result in the consolidation of an investee, to be measured at fair value, with changes in fair value recognized in net income; (ii) requiring a qualitative assessment to identify impairment of equity investments without readily determinable fair values; and (iii) clarifying that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. The amendments of ASU 2016-01 are effective for interim and annual periods beginning after December 15, 2017. Management is currently evaluating the impact that this ASU will have on the Company’s consolidated financial statements. ASU 2015-05, “ Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” Issued in April 2015, ASU 2015-05 provides guidance on how customers should evaluate whether cloud computing arrangements contain a software license that should be accounted for separately. A customer that determines that such an arrangement contains a software license must account for the license consistently with the acquisition of other software licenses. If an arrangement does not contain a software license, then the customer is required to account for it as a service contract. As a result, all software licenses within the scope of this guidance will be accounted for consistently with other licenses of intangible assets. The guidance is effective for annual and interim periods beginning after December 15, 2015. Entities can elect to apply the guidance either retrospectively or prospectively to all cloud computing arrangements entered into or materially modified after the effective date. ASU 2015-05 became effective for the Company on January 1, 2016 and was applied using the prospective transition method. The adoption of ASU 2015-05 did not have a material impact on the Company’s consolidated financial statements. ASU 2015-02, “ Consolidation (Topic 810): Amendments to the Consolidation Analysis .” ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” Issued in May 2014, ASU 2014-09 will add FASB ASC Topic 606, Revenue from Contracts with Customers, FASB ASC Topic 605, Revenue Recognition FASB ASC Topic 605-35, Revenue Recognition – Construction-Type and Production-Type Contracts. ASU 2015-14, “Revenue from Contracts with Customers (Topic 606)-Deferral of the Effective Date,” |
Note 3 - Net Income Per Share
Note 3 - Net Income Per Share | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. NET INCOME PER SHARE Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding. Included in basic shares are certain shares that have been accrued as of the balance sheet date as deferred comp ensation for members of USBI’s Board of Directors. Diluted net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period. The dilutive shares consist of nonqualified stock option grants issued to employees and members of USBI’s Board of Directors pursuant to the United Security Bancshares, Inc. 2013 Incentive Plan (the “2013 Incentive Plan”) previously approved by USBI’s shareholders. The following table reflects weighted average shares used to calculate basic and diluted net income per share for the periods presented. Three Months Ended March 31, 2016 2015 Basic shares 6,143,267 6,134,808 Dilutive shares 272,550 177,050 Diluted shares 6,415,817 6,311,858 Three Months Ended March 31, 2016 2015 (Dollars in Thousands, Except Per Share Data) Net income $ 317 $ 836 Basic net income per share $ 0.05 $ 0.14 Diluted net income per share $ 0.05 $ 0.13 |
Note 4 - Comprehensive Income
Note 4 - Comprehensive Income | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 4. COMPREHENSIVE INCOME Comprehensive income consists of net income and the change in the unrealized gains or losses on the Company ’s available-for-sale securities portfolio arising during the period. In the calculation of comprehensive income, certain reclassification adjustments are made for any sale of investment securities to avoid double counting items that are displayed as part of net income for a period that also had been displayed as part of other comprehensive income in that period or earlier periods. |
Note 5 - Investment Securities
Note 5 - Investment Securities | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 5. INVESTMENT SECURITIES Details of investment securities available-for-sale and held-to-maturity as of March 31, 2016 and December 31, 2015 are as follows: Available-for-Sale March 31 , 201 6 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Residential $ 128,972 $ 1,136 $ (172 ) $ 129,936 Commercial 52,117 172 (549 ) 51,740 Obligations of states and political subdivisions 14,049 922 (1 ) 14,970 Obligations of U.S. government-sponsored agencies 2,000 — (4 ) 1,996 Corporate notes 774 — (8 ) 766 U.S. Treasury securities 80 — — 80 Total $ 197,992 $ 2,230 $ (734 ) $ 199,488 Held-to-Maturity March 31 , 201 6 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Commercial $ 18,205 $ 34 $ (56 ) $ 18,183 Obligations of U.S. government-sponsored agencies 11,556 31 (8 ) 11,579 Obligations of states and political subdivisions 2,217 25 (1 ) 2,241 Total $ 31,978 $ 90 $ (65 ) $ 32,003 Available-for-Sale December 31, 201 5 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Residential $ 135,104 $ 998 $ (608 ) $ 135,494 Commercial 45,961 164 (616 ) 45,509 Obligations of states and political subdivisions 14,071 931 (4 ) 14,998 Obligations of U.S. government-sponsored agencies 1,999 — (17 ) 1,982 Corporate notes 780 — — 780 U.S. Treasury securities 80 — — 80 Total $ 197,995 $ 2,093 $ (1,245 ) $ 198,843 Held-to-Maturity December 31, 201 5 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (Dollars in Thousands) Mortgage-backed securities: Commercial $ 16,321 $ 33 $ (170 ) $ 16,184 Obligations of U.S. government-sponsored agencies 13,766 19 (71 ) 13,714 Obligations of states and political subdivisions 2,272 18 (4 ) 2,286 Total $ 32,359 $ 70 $ (245 ) $ 32,184 The scheduled maturities of investment securities available-for-sale and held-to-maturity as of March 31, 2016 are presented in the following table: Available-for-Sale Held-to-Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (Dollars in Thousands) Maturing within one year $ 2,119 $ 2,135 $ — $ — Maturing after one to five years 4,762 4,921 2,271 2,294 Maturing after five to ten years 114,008 114,795 9,852 9,879 Maturing after ten years 77,103 77,637 19,855 19,830 Total $ 197,992 $ 199,488 $ 31,978 $ 32,003 For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been allocated over maturity groupings based on the weighted-average contractual maturities of underlying collateral. The mortgage-backed securities generally mature earlier than their weighted-average contractual maturities because of principal prepayments. The following table reflects gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of March 31, 2016 and December 31, 2015. Available-for-Sale March 31 , 201 6 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Residential $ 44,994 $ (128 ) $ 5,321 $ (44 ) Commercial 24,822 (107 ) 13,515 (442 ) Obligations of U.S. government-sponsored agencies 1,996 (4 ) — — Corporate notes 766 (8 ) — — Obligations of states and political subdivisions 446 (1 ) — — Total $ 73,024 $ (248 ) $ 18,836 $ (486 ) Held-to-Maturity March 31 , 201 6 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Commercial $ 13,557 $ (56 ) $ — $ — Obligations of U.S. government-sponsored agencies 1,579 (8 ) — — Obligations of states and political subdivisions 572 (1 ) — — Total $ 15,708 $ (65 ) $ — $ — Available-for-Sale December 31, 201 5 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Residential $ 83,403 $ (458 ) $ 9,061 $ (150 ) Commercial 24,337 (272 ) 8,918 (344 ) Obligations of U.S. government-sponsored agencies 1,982 (17 ) — — Corporate notes 779 — — — Obligations of states and political subdivisions 707 (4 ) — — Total $ 111,208 $ (751 ) $ 17,979 $ (494 ) Held-to-Maturity December 31, 201 5 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Commercial $ 14,143 $ (170 ) $ — $ — Obligations of U.S. government-sponsored agencies 11,163 (44 ) 1,560 (27 ) Obligations of states and political subdivisions 572 (4 ) — — Total $ 25,878 $ (218 ) $ 1,560 $ (27 ) Management evaluates securities for other-than-temporary impairment no less frequently than quarterly and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (i) the length of time and the extent to which fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, (iii) whether the Company intends to sell securities and (iv) whether it is more likely than not that the Company will be required to sell the securities before recovery of their amortized cost bases. As of March 31, 2016, 14 debt securities had been in a loss position for more than 12 months, and 68 debt securities had been in a loss position for less than 12 months. As of December 31, 2015, 13 debt securities had been in a loss position for more than 12 months, and 102 debt securities had been in a loss position for less than 12 months. As of both March 31, 2016 and December 31, 2015, the losses for all securities were considered to be a direct result of the effect that the prevailing interest rate environment had on the value of debt securities and were not related to the creditworthiness of the issuers. Further, the Company has the current intent and ability to retain its investments in the issuers for a period of time that management believes to be sufficient to allow for any anticipated recovery in fair value. Therefore, the Company did not recognize any other-than-temporary impairments as of March 31, 2016 and December 31, 2015. Investment securities available-for-sale with a carrying value of $60.2 million and $61.3 million as of March 31, 2016 and December 31, 2015, respectively, were pledged to secure public deposits and for other purposes. There were no gains realized on sales of securities available-for-sale during the three months ended March 31, 2016. Gains realized on sales of securities available-for-sale were approximately $0.4 million for the year ended December 31, 2015. There were no losses on sales of securities during the three months ended March 31, 2016 or the year ended December 31, 2015. |
Note 6 - Loans and Allowance fo
Note 6 - Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 6. LOANS AND ALLOWANCE FOR LOAN LOSSES Portfolio Segments : The Company has divided the loan portfolio into eight portfolio segments, each with different risk characteristics described as follows: Construction, land development and other land loans – Commercial construction, land and land development loans include loans for the development of residential housing projects, loans for the development of commercial and industrial use property and loans for the purchase and improvement of raw land. These loans are secured in whole or in part by the underlying real estate collateral and are generally guaranteed by the principals of the borrowing entity. Secured by 1-4 family residential properties Secured by multi-family residential properties – This portfolio segment includes mortgage loans secured by apartment buildings. Secured by non-farm, non-residential properties – This portfolio segment includes real estate loans secured by commercial and industrial properties, office or mixed-use facilities, strip shopping centers or other commercial property. These loans are generally guaranteed by the principals of the borrowing entity. Other real estate loans – Other real estate loans are loans primarily for agricultural production, secured by mortgages on farmland. Commercial and industrial loans – This portfolio segment includes loans to commercial customers for use in the normal course of business. These credits may be loans and lines of credit to financially strong borrowers, secured by inventories, equipment or receivables, and are generally guaranteed by the principals of the borrowing entity. Consumer loans – This portfolio segment includes a variety of secured and unsecured personal loans, including automobile loans, loans for household and personal purposes and all other direct consumer installment loans. Other loans – Other loans include credit cards, overdrawn checking accounts reclassified to loans and overdraft lines of credit. As of March 31, 2016 and December 31, 2015, the composition of the loan portfolio by reporting segment and portfolio segment was as follows: March 31 , 201 6 FUSB ALC Total (Dollars in Thousands) Real estate loans: Construction, land development and other land loans $ 18,023 $ — $ 18,023 Secured by 1-4 family residential properties 30,623 16,265 46,888 Secured by multi-family residential properties 11,580 — 11,580 Secured by non-farm, non-residential properties 82,754 — 82,754 Other 168 — 168 Commercial and industrial loans 34,568 — 34,568 Consumer loans 6,614 74,669 81,283 Other loans 407 — 407 Total loans 184,737 90,934 275,671 Less: Unearned interest, fees and deferred cost 174 8,147 8,321 Allowance for loan losses 1,068 2,307 3,375 Net loans $ 183,495 $ 80,480 $ 263,975 December 31, 201 5 FUSB ALC Total (Dollars in Thousands) Real estate loans: Construction, land development and other land loans $ 11,827 $ — $ 11,827 Secured by 1-4 family residential properties 30,730 17,233 47,963 Secured by multi-family residential properties 11,845 — 11,845 Secured by non-farm, non-residential properties 83,883 — 83,883 Other 115 — 115 Commercial and industrial loans 29,377 — 29,377 Consumer loans 7,057 76,131 83,188 Other loans 379 — 379 Total loans 175,213 93,364 268,577 Less: Unearned interest, fees and deferred cost 149 9,215 9,364 Allowance for loan losses 1,329 2,452 3,781 Net loans $ 173,735 $ 81,697 $ 255,432 The Company makes commercial, real estate and installment loans to its customers. Although the Company has a diversified loan portfolio, 57.8% and 58.0% of the portfolio was concentrated in loans secured by real estate located primarily within a single geographic region of the United States as of March 31, 2016 and December 31, 2015, respectively. Related Party Loans: In the ordinary course of business, the Bank makes loans to certain officers and directors of the Company, including companies with which they are associated. These loans are made on the same terms as those prevailing for comparable transactions with non-related parties. Management believes that such loans do not represent more than a normal risk of collectability, nor do they present other unfavorable features. The aggregate balances of such related party loans and commitments as of both March 31, 2016 and December 31, 2015 were $2.9 million. During the three months ended March 31, 2016, there were no new loans to these parties, and repayments by active related parties were $36 thousand. During the year ended December 31, 2015, there were no new loans to these related parties, and repayments by active related parties were $0.2 million. Allowance for Loan Losses: The following tables present changes in the allowance for loan losses by loan portfolio segment and loan type as of March 31, 2016 and December 31, 2015: FUSB Three M onths Ended March 31 , 201 6 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 133 $ 1,118 $ 28 $ 36 $ 14 $ 1,329 Charge-offs — — (21 ) — — (21 ) Recoveries 12 — 23 5 — 40 Provision 107 (487 ) (8 ) 117 (9 ) (280 ) Ending balance 252 631 22 158 5 1,068 Ending balance individually evaluated for impairment 72 220 — — — 292 Ending balance collectively evaluated for impairment $ 180 $ 411 $ 22 $ 158 $ 5 $ 776 Loan receivables: Ending balance 34,568 112,525 6,614 30,623 407 184,737 Ending balance individually evaluated for impairment 436 2,224 — — — 2,660 Ending balance collectively evaluated for impairment $ 34,132 $ 110,301 $ 6,614 $ 30,623 $ 407 $ 182,077 ALC Three Months Ended March 31 , 201 6 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ — $ — $ 2,202 $ 250 $ — $ 2,452 Charge-offs — — (765 ) (5 ) — (770 ) Recoveries — — 174 4 — 178 Provision — — 500 (53 ) — 447 Ending balance — — 2,111 196 — 2,307 Ending balance individually evaluated for impairment — — — — — — Ending balance collectively evaluated for impairment $ — $ — $ 2,111 $ 196 $ — $ 2,307 Loan receivables: Ending balance — — 74,669 16,265 — 90,934 Ending balance individually evaluated for impairment — — — — — — Ending balance collectively evaluated for impairment $ — $ — $ 74,669 $ 16,265 $ — $ 90,934 FUSB & ALC Three Months Ended March 31 , 201 6 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 133 $ 1,118 $ 2,230 $ 286 $ 14 $ 3,781 Charge-offs — — (786 ) (5 ) — (791 ) Recoveries 12 — 197 9 — 218 Provision 107 (487 ) 492 64 (9 ) 167 Ending balance 252 631 2,133 354 5 3,375 Ending balance individually evaluated for impairment 72 220 — — — 292 Ending balance collectively evaluated for impairment $ 180 $ 411 $ 2,133 $ 354 $ 5 $ 3,083 Loan receivables: Ending balance 34,568 112,525 81,283 46,888 407 275,671 Ending balance individually evaluated for impairment 436 2,224 — — — 2,660 Ending balance collectively evaluated for impairment $ 34,132 $ 110,301 $ 81,283 $ 46,888 $ 407 $ 273,011 FUSB Year Ended December 31, 201 5 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 141 $ 2,810 $ 114 $ 421 $ — $ 3,486 Charge-offs — (767 ) (17 ) (68 ) — (852 ) Recoveries 61 12 70 111 — 254 Provision (69 ) (937 ) (139 ) (428 ) 14 (1,559 ) Ending balance 133 1,118 28 36 — 1,329 Ending balance individually evaluated for impairment 80 230 — — — 310 Ending balance collectively evaluated for impairment $ 53 $ 888 $ 28 $ 36 $ 14 $ 1,019 Loan receivables: Ending balance 29,377 107,670 7,057 30,730 379 175,213 Ending balance individually evaluated for impairment 444 2,270 — — — 2,714 Ending balance collectively evaluated for impairment $ 28,933 $ 105,400 $ 7,057 $ 30,730 $ 379 $ 172,499 ALC Year Ended December 31, 201 5 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ — $ — $ 2,336 $ 346 $ — $ 2,682 Charge-offs — — (2,552 ) (187 ) — (2,739 ) Recoveries — — 712 22 — 734 Provision — — 1,706 69 — 1,775 Ending balance — — 2,202 250 — 2,452 Ending balance individually evaluated for impairment — — — — — — Ending balance collectively evaluated for impairment $ — $ — $ 2,202 $ 250 $ — $ 2,452 Loan receivables: Ending balance — — 76,131 17,233 — 93,364 Ending balance individually evaluated for impairment — — — — — — Ending balance collectively evaluated for impairment $ — $ — $ 76,131 $ 17,233 $ — $ 93,364 FUSB & ALC Year Ended December 31, 201 5 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 141 $ 2,810 $ 2,450 $ 767 $ — $ 6,168 Charge-offs — (767 ) (2,569 ) (255 ) — (3,591 ) Recoveries 61 12 782 133 — 988 Provision (69 ) (937 ) 1,567 (359 ) 14 216 Ending balance 133 1,118 2,230 286 — 3,781 Ending balance individually evaluated for impairment 80 230 — — — 310 Ending balance collectively evaluated for impairment $ 53 $ 888 $ 2,230 $ 286 $ 14 $ 3,471 Loan receivables: Ending balance 29,377 107,670 83,188 47,963 379 268,577 Ending balance individually evaluated for impairment 444 2,270 — — — 2,714 Ending balance collectively evaluated for impairment $ 28,933 $ 105,400 $ 83,188 $ 47,963 $ 379 $ 265,863 Credit Quality: The Bank utilizes a credit grading system that provides a uniform framework for establishing and monitoring credit risk in the loan portfolio. Under this system, each loan is graded based on pre-determined risk metrics and categorized into one of nine risk grades. These risk grades can be summarized into categories described as pass, special mention, substandard, doubtful and loss, as described in further detail below. ● Pass (Risk Grades 1-5): Loans in this category include obligations in which the probability of default is considered low. ● Special Mention (Risk Grade 6): Loans in this category exhibit potential credit weaknesses or downward trends deserving Bank management’s close attention. If left uncorrected, these potential weaknesses may result in the deterioration of the repayment prospects for the asset or in the Bank’s credit position at some future date. Special mention loans are not adversely classified and do not expose the Bank to sufficient risk to warrant adverse classification. Although a special mention asset has a higher probability of default than pass-rated categories, its default is not imminent. ● Substandard (Risk Grade 7): Loans in this category have defined weaknesses that jeopardize the orderly liquidation of debt. A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or by the collateral pledged, if any. Normal repayment from the borrower is in jeopardy, although no loss of principal is envisioned. There is a distinct possibility that a partial loss of interest and/or principal will occur if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified as substandard. ● Doubtful (Risk Grade 8): Loans classified as doubtful have all of the weaknesses found in substandard loans, with the added characteristic that the weaknesses make collection of debt in full, based on currently existing facts, conditions and values, highly questionable or improbable. Serious problems exist such that partial loss of principal is likely; however, because of certain important, reasonably specific pending factors that may work to strengthen the assets, the loans’ classification as estimated losses is deferred until a more exact status may be determined. Such pending factors may include proposed merger, acquisition or liquidation procedures, capital injection, perfection of liens on additional collateral and refinancing plans. Loans classified as doubtful may include loans to borrowers that have demonstrated a history of failing to live up to agreements. ● Loss (Risk Grade 9): Loans are classified in this category when borrowers are deemed incapable of repayment of unsecured debt. Loans to such borrowers are considered uncollectable and of such little value that continuance as active assets of the Bank is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not prudent to defer writing off these assets, even though partial recovery may be effected in the future. At ALC, because the loan portfolio is more uniform in nature, each loan is categorized into one of two risk grades, depending on whether the loan is considered to be performing or nonperforming. Performing loans are loans that are paying principal and interest in accordance with a contractual agreement. Nonperforming loans are loans that are either not paying as contractually agreed or that have demonstrated characteristics that indicate a probability of loss. The tables below illustrate the carrying amount of loans by credit quality indicator as of March 31, 2016. FUSB Pass 1-5 Special Mention 6 Substandard 7 Doubtful 8 Total (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 16,100 $ — $ 1,923 $ — $ 18,023 Secured by 1-4 family residential properties 29,216 224 1,183 — 30,623 Secured by multi-family residential properties 11,580 — — — 11,580 Secured by non-farm, non-residential properties 77,869 3,989 896 — 82,754 Other 168 — — — 168 Commercial and industrial loans 33,381 480 707 — 34,568 Consumer loans 6,499 — 115 — 6,614 Other loans 407 — — — 407 Total $ 175,220 $ 4,693 $ 4,824 $ — $ 184,737 ALC Performing Nonperforming Total (Dollars in Thousands) Loans secured by real estate: Secured by 1-4 family residential properties $ 15,856 $ 409 $ 16,265 Consumer loans 73,265 1,404 74,669 Total $ 89,121 $ 1,813 $ 90,934 The tables below illustrate the carrying amount of loans by credit quality indicator as of December 31, 2015. FUSB Pass 1-5 Special Mention 6 Substandard 7 Doubtful 8 Total (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 9,862 $ — $ 1,965 $ — $ 11,827 Secured by 1-4 family residential properties 29,252 228 1,250 — 30,730 Secured by multi-family residential properties 11,845 — — — 11,845 Secured by non-farm, non-residential properties 78,647 4,315 921 — 83,883 Other 115 — — — 115 Commercial and industrial loans 28,170 482 752 — 29,377 Consumer loans 6,905 — 152 — 7,057 Other loans 379 — — — 379 Total $ 165,175 $ 5,025 $ 5,013 $ — $ 175,213 ALC Performing Nonperforming Total (Dollars in Thousands) Loans secured by real estate: Secured by 1-4 family residential properties $ 16,964 $ 269 $ 17,233 Consumer loans 74,743 1,388 76,131 Total $ 91,707 $ 1,657 $ 93,364 The following tables provide an aging analysis of past due loans by class as of March 31, 2016. FUSB As of March 31 , 201 6 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 40 $ — $ 86 $ 126 $ 17,897 $ 18,023 $ — Secured by 1-4 family residential properties 69 25 463 557 30,066 30,623 — Secured by multi-family residential properties — — — — 11,580 11,580 — Secured by non-farm, non-residential properties — — 148 148 82,606 82,754 — Other — — — — 168 168 — Commercial and industrial loans 73 38 — 111 34,457 34,568 — Consumer loans 38 — 22 60 6,554 6,614 — Other loans — — — — 407 407 — Total $ 220 $ 63 $ 719 $ 1,002 $ 183,735 $ 184,737 $ — ALC As of March 31 , 201 6 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ — $ — $ — $ — $ — Secured by 1-4 family residential properties 25 15 392 432 15,833 16,265 — Secured by multi-family residential properties — — — — — — — Secured by non-farm, non-residential properties — — — — — — — Other — — — — — — — Commercial and industrial loans — — — — — — — Consumer loans 659 517 1,394 2,570 72,099 74,669 — Other loans — — — — — — — Total $ 684 $ 532 $ 1,786 $ 3,002 $ 87,932 $ 90,934 $ — The following tables provide an aging analysis of past due loans by class as of December 31, 201 5. FUSB As of December 31, 201 5 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ 86 $ 86 $ 11,741 $ 11,827 $ — Secured by 1-4 family residential properties 118 206 360 684 30,046 30,730 — Secured by multi-family residential properties — — — — 11,845 11,845 — Secured by non-farm, non-residential properties 530 — 148 678 83,205 83,883 — Other — — — — 115 115 — Commercial and industrial loans 22 52 — 74 29,303 29,377 — Consumer loans 49 4 83 136 6,921 7,057 — Other loans — — — — 379 379 — Total $ 719 $ 262 $ 677 $ 1,658 $ 173,555 $ 175,213 $ — ALC As of December 31, 201 5 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ — $ — $ — $ — $ — Secured by 1-4 family residential properties 91 206 252 549 16,684 17,233 — Secured by multi-family residential properties — — — — — — — Secured by non-farm, non-residential properties — — — — — — — Other — — — — — — — Commercial and industrial loans — — — — — — — Consumer loans 965 567 1,377 2,909 73,222 76,131 — Other loans — — — — — — — Total $ 1,056 $ 773 $ 1,629 $ 3,458 $ 89,906 $ 93,364 $ — The following table provides an analysis of non-accruing loans by class as of March 31, 2016 and December 31, 2015. Loans on Non-Accrual Status March 31 , 201 6 December 31, 201 5 (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 334 $ 339 Secured by 1-4 family residential properties 1,178 968 Secured by multi-family residential properties — — Secured by non-farm, non-residential properties 205 213 Commercial and industrial loans 46 47 Consumer loans 1,514 1,535 Total loans $ 3,277 $ 3,102 Impaired Loans: A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the related loan agreement. If a loan is impaired, a specific valuation allowance is allocated, if necessary, so that the loan is reported at the present value of estimated future cash flows using the loan ’s existing rate or at the fair value of collateral if repayment is expected solely from the liquidation of the collateral. All loans of $0.5 million or more that have a credit quality risk grade of seven or above are identified for impairment analysis. Impaired loans, or portions thereof, are charged off when deemed uncollectable. As of March 31, 2016, the carrying amount of impaired loans consisted of the following: March 31 , 201 6 Impaired loans with no related allowance recorded Carrying Amount Unpaid Principal Balance Related Allowances (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ — $ — $ — Secured by 1-4 family residential properties 54 54 — Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties — — — Commercial and industrial — — — Total loans with no related allowance recorded $ 54 $ 54 $ — Impaired loans with an allowance recorded Loans secured by real estate Construction, land development and other land loans $ 1,411 $ 1,411 $ 95 Secured by 1-4 family residential properties 197 197 5 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 562 562 120 Commercial and industrial 436 436 72 Total loans with an allowance recorded $ 2,606 $ 2,606 $ 292 Total impaired loans Loans secured by real estate Construction, land development and other land loans $ 1,411 $ 1,411 $ 95 Secured by 1-4 family residential properties 251 251 5 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 562 562 120 Commercial and industrial 436 436 72 Total impaired loans $ 2,660 $ 2,660 $ 292 As of December 31, 2015, the carrying amount of impaired loans consisted of the following: December 31, 201 5 Impaired loans with no related allowance recorded Carrying Amount Unpaid Principal Balance Related Allowances (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ — $ — $ — Secured by 1-4 family residential properties 54 54 — Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties — — — Commercial and industrial — — — Total loans with no related allowance recorded $ 54 $ 54 $ — Impaired loans with an allowance recorded Loans secured by real estate Construction, land development and other land loans $ 1,445 $ 1,445 $ 95 Secured by 1-4 family residential properties 198 198 5 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 573 573 130 Commercial and industrial 444 444 80 Total loans with an allowance recorded $ 2,660 $ 2,660 $ 310 Total impaired loans Loans secured by real estate Construction, land development and other land loans $ 1,445 $ 1,445 $ 95 Secured by 1-4 family residential properties 252 252 5 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 573 573 130 Commercial and industrial 444 444 80 Total impaired loans $ 2,714 $ 2,714 $ 310 The average net investment in impaired loans and interest income recognized and received on impaired loans during the three months ended March 31, 2016 and the year ended December 31, 2015 were as follows: March 31 , 201 6 Average Recorded Investment Interest Income Recognized Interest Income Received (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ 1,410 $ 11 $ 11 Secured by 1-4 family residential properties 252 3 3 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 566 8 8 Commercial and industrial 439 6 6 Total $ 2,667 $ 28 $ 28 December 31, 201 5 Average Recorded Investment Interest Income Recognized Interest Income Received (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ 1,493 $ 44 $ 46 Secured by 1-4 family residential properties 139 14 14 Secured by multi-family residential properties 1,892 — — Secured by non-farm, non-residential properties 3,329 35 36 Commercial and industrial 264 26 26 Total $ 7,117 $ 119 $ 122 Loans on which the accrual of interest has been discontinued amounted to $3.3 million and $3.1 million as of March 31, 2016 and December 31, 2015, respectively. If interest on those loans had been accrued, there would have been $22 thousand and $0.1 million of interest accrued for the periods ended March 31, 2016 and December 31, 2015, respectively. Interest income related to these loans as of March 31, 2016 and December 31, 2015 was $7 thousand and $0.3 million, respectively. Troubled Debt Restructurings: Troubled debt restructurings include loans with respect to which concessions have been granted to borrowers that generally would not have otherwise been considered had the borrowers not been experiencing financial difficulty. The concessions granted may include payment schedule modifications, interest rate reductions, maturity date extensions, modification s of note structure, principal balance reductions or some combination of these concessions. Restructured loans may involve loans remaining on non-accrual, moving to non-accrual or continuing on accrual status, depending on the individual facts and circumstances of the borrower. Non-accrual restructured loans are included with all other non-accrual loans. In addition, all accruing restructured loans are reported as troubled debt restructurings. Generally, restructured loans remain on non-accrual until the customer has attained a sustained period of repayment performance under the modified loan terms (generally a minimum of six months). However, performance prior to the restructuring, or significant events that coincide with the restructuring, are considered in assessing whether the borrower can meet the new terms and whether the loan should be returned to or maintained on non-accrual status. If the borrower’s ability to meet the revised payment schedule is not reasonably assured, then the loan remains on non-accrual. As of March 31, 2016 and December 31, 2015, respectively, the Company had $1.4 million and $1.5 million of non-accruing loans that were previously restructured and that remained on non-accrual status. For the three months ended March 31, 2016, the Company had $38 thousand in restructured loans that were restored to accrual status based on a sustained period of repayment performance. For the year ended December 31, 2015, the Company had no restructured loans that were restored to accrual status based on a sustained period of repayment performance. The following table provides the number of loans remaining in each loan category, as of March 31, 2016 and December 31, 2015, that the Bank had previously modified in a troubled debt restructuring, as well as the pre- and post-modification principal balance as of each date. March 31 , 201 6 December 31, 201 5 Number of Loans Pre- Modification Outstanding Principal Balance Post- Modification Principal Balance Number of Loans Pre- Modification Outstanding Principal Balance Post- Modification Principal Balance (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans 3 $ 2,220 $ 1,659 3 $ 2,220 $ 1,698 Secured by 1-4 family residential properties 4 200 102 4 200 103 Secured by non-farm, non-residential properties 2 113 49 2 113 52 Commercial loans 2 116 94 2 116 94 Total 11 $ 2,649 $ 1,904 11 $ 2,649 $ 1,947 Restructured loan modifications primarily included maturity date extensions and payment schedule modifications. There were no modifications to principal balances of the loans that were restructured. Accordingly, there was no impact on the Company ’s allowance for loan losses resulting from the modifications. None of the loans that were previously modified in a troubled debt restructuring as of March 31, 2016 and December 31, 2015 have defaulted subsequent to modification. All loans with a principal balance of $0.5 million or more that have been modified in a troubled debt restructuring are considered impaired and evaluated individually for impairment. The nature and extent of impairment of restructured loans, including those that have experienced a subsequent payment default, are considered in the determination of an appropriate level of allowance for loan losses. This evaluation resulted in an allowance for loan losses attributable to such restructured loans of $1 thousand as of both March 31, 2016 and December 31, 2015. |
Note 7 - Other Real Estate Owne
Note 7 - Other Real Estate Owned | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | 7. OTHER REAL ESTATE OWNED Other real estate and certain other assets acquired in foreclosure are reported at the lower of the investment in the loan or the fair value of the property, less estimated costs to sell. The following table summarizes foreclosed property activity as of the three months ended March 31, 2016 and 2015: March 31 , 201 6 FUSB ALC Total (Dollars in Thousands) Beginning balance $ 5,327 $ 711 $ 6,038 Transfers from loans — 18 18 Sales proceeds (609 ) (77 ) (686 ) Gross gains — 25 25 Gross losses (16 ) — (16 ) Net gains (losses) (16 ) 25 9 Impairment — (23 ) (23 ) Ending balance $ 4,702 $ 654 $ 5,356 March 31 , 201 5 FUSB ALC Total (Dollars in Thousands) Beginning balance $ 6,997 $ 738 $ 7,735 Transfers from loans 995 63 1,058 Sales proceeds (40 ) (66 ) (106 ) Gross gains — — — Gross losses (3 ) (46 ) (49 ) Net gains (losses) (3 ) (46 ) (49 ) Impairment — (30 ) (30 ) Ending balance $ 7,949 $ 659 $ 8,608 Valuation adjustments are recorded in other non-interest expense and are primarily post-foreclosure write-downs that are a result of continued declining property values based on updated appraisals or other indications of value, such as offers to purchase. Fair value less estimated cost to sell of foreclosed residential real estate held by the Company was $1.2 million and $1.1 million as of March 31, 2016 and 2015, respectively. In addition, the Company held $0.3 million and $0.2 million in consumer mortgage loans collateralized by residential real estate that were in the process of foreclosure as of March 31, 2016 and December 31, 2015, respectively. |
Note 8 - Investment in Limited
Note 8 - Investment in Limited Partnership | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Variable Interest Entity Disclosure [Text Block] | 8. INVESTMENT IN LIMITED PARTNERSHIP The Bank holds investments in affordable housing projects for which it provides funding as a limited partner and has received tax credits related to its investments in the projects based on its partnership share. The net assets of the partnership consist primarily of apartment complexes , and the primary liabilities consist of those associated with the operation of the partnership. The Company has determined that this structure requires evaluation as a VIE under Accounting Standards Codification (“ASC”) Topic 810, Consolidation. |
Note 9 - Short-term Borrowings
Note 9 - Short-term Borrowings | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | 9. SHORT-TERM BORROWINGS Short-term borrowings consist of federal funds purchased and securities sold under repurchase agreements and short-term Federal Home Loan Bank (“FHLB”) advances. Short-term borrowings totaled $0.4 million and $7.4 million as of March 31, 2016 and December 31, 2015, respectively. Federal funds purchased, which represent unsecured lines of credit that generally mature within one to four days, are available to the Bank through arrangements with correspondent banks and the Federal Reserve. As of both March 31, 2016 and December 31, 2015, there were no federal funds purchased outstanding, and the Bank had $18.8 million in available unused lines. Securities sold under repurchase agreements, which are secured borrowings, generally are reflected at the amount of cash received in connection with the transaction. The Bank may be required to provide additional collateral based on the fair value of the underlying securities. The Bank monitors the fair value of the underlying securities on a daily basis. Securities sold under repurchase agreements as of both March 31, 2016 and December 31, 2015 totaled $0.4 million. Short-term FHLB advances are secured borrowings available to the Bank as an alternative funding source. As of March 31, 2016, the Bank had no outstanding FHLB advances with a maturity date of less than 30 days. As of December 31, 2015, the Bank had $7.0 million in outstanding FHLB advances with a maturity date of less than 30 days. |
Note 10 - Long-term Debt
Note 10 - Long-term Debt | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 10. LONG-TERM DEBT The Company uses FHLB advances as an alternative to funding sources with similar maturities, such as certificates of deposit or other deposit programs. These advances generally offer more attractive rates than other mid-term financing options. They are also flexible, allowing the Company to quickly obtain the necessary maturities and rates that best suit its overall asset/liability strategy. The Company had long-term FHLB advances outstanding of $5.0 million as of both March 31, 2016 and December 31, 2015. Assets pledged associated with FHLB advances totaled $8.1 million and $14.0 million as of March 31, 2016 and December 31, 2015, respectively. As of March 31, 2016 and December 31, 2015, the Bank had $167.7 million and $152.5 million, respectively, in remaining credit from the FHLB (subject to available collateral). |
Note 11 - Income Taxes
Note 11 - Income Taxes | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 11. INCOME TAXES The provision for income taxes was $0.1 million and $0.4 million for the three-month periods ended March 31, 2016 and 2015, respectively. The Company’s effective tax rate was 24.0% and 29.6% for the same periods. The effective tax rate is impacted by recurring permanent differences, such as those associated with bank-owned life insurance and tax-exempt investment and loan income. The Company had a net deferred tax asset of $ 7.5 million and $7.8 million as of March 31, 2016 and December 31, 2015, respectively. The reduction in the net deferred tax asset resulted primarily from the impact of changes in the fair value of securities available-for-sale. |
Note 12 - Deferred Compensation
Note 12 - Deferred Compensation Plans | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 12. DEFERRED COMPENSATION PLANS The Bank has entered into supplemental compensation benefits agreements with certain directors and executive officers. The measurement of the liability under these agreements includes estimates involving life expectancy, length of time before retirement and the expected returns on the bank-owned life insurance policies used to fund those agreements. Should these estimates prove to be materially wrong, the cost of these agreements could change accordingly. The related deferred compensation obligation to these directors and executive officers included in other liabilities was $3.6 million as of both March 31, 2016 and December 31, 2015. In addition, non-employee directors may elect to defer payment of all or any portion of their USBI and FUSB director fees under the United Security Bancshares, Inc. Non-Employee Directors’ Deferred Compensation Plan (the “Deferral Plan”). The Deferral Plan, which was ratified by shareholders at the annual meeting held on May 11, 2004, permits non-employee directors to invest their directors’ fees and to receive the adjusted value of the deferred amounts in cash and/or shares of USBI’s common stock. The Company uses shares held as treasury stock to satisfy stock-based obligations. A total of 108,137 shares and 103,571 shares were deferred under the Deferral Plan as of March 31, 2016 and December 31, 2015, respectively. Cash deferrals under the Deferral Plan totaled less than $0.1 million as of both March 31, 2016 and December 31, 2015. |
Note 13 - Stock Option Grants
Note 13 - Stock Option Grants | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 13. STOCK OPTION GRANTS In accordance with the Company ’s 2013 Incentive Plan, stock option awards have been granted to certain employees and non-employee directors. The awards were granted with an exercise price equal to the market price of USBI’s common stock on the date of grant and have vesting periods ranging from one to three years, with 10-year contractual terms. The Company expects to use shares held as treasury stock to satisfy share option exercises. Currently, the Company holds a sufficient number of treasury shares to satisfy potential exercises. The Company recognizes the cost of services received in exchange for stock option awards based on the grant date fair value of the award, with compensation expense recognized on a straight-line b asis over the award’s vesting period. The fair value of outstanding awards was determined using the Black-Scholes option pricing model based on the assumptions noted in the table below. Expected volatilities are based on historical volatilities of the Company’s common stock. 2016 2015 Risk-free interest rate 1.58 % 1.52 % Expected term 7.5 years 7.5 years Expected stock price volatility 25.25 % 54.04 % Dividend yield 1.50 % 1.50 % The following table summarizes the Company's stock option activity for the periods presented. Three Months Ended March 31 , 201 6 March 31 , 201 5 Number of Shares Average Exercise Price Number of Shares Average Exercise Price Options: Outstanding, beginning of period 175,550 $ 8.17 83,400 $ 8.09 Granted 97,000 8.30 96,150 8.23 Exercised — — — — Expired — — — — Forfeited — — 2,500 8.09 Options outstanding, end of period 272,550 $ 8.21 177,050 $ 8.16 Options exercisable, end of period 175,550 $ 8.17 81,900 $ 8.09 Stock-based compensation expense related to stock options totaled $0.1 million for both three-month periods ended March 31, 2016 and 2015. The aggregate intrinsic value of stock options outstanding (calculated as the amount by which the market value of underlying stock exceeds the exercise price of the option) was less than $0.1 million as of both March 31, 2016 and 2015. |
Note 14 - Segment Reporting
Note 14 - Segment Reporting | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 14. SEGMENT REPORTING Under ASC Topic 280, Segment Reporting All FUSB ALC Other Eliminations Consolidated (Dollars in Thousands) For the three months ended March 3 1 , 201 6 : Net interest income $ 3,598 $ 3,060 $ 3 $ — $ 6,661 Provision (reduction in reserve) for loan losses (280 ) 447 — — 167 Total non-interest income 721 252 675 (659 ) 989 Total non-interest expense 4,334 2,427 440 (135 ) 7,066 Income before income taxes 265 438 238 (524 ) 417 Provision for income taxes 48 158 (106 ) — 100 Net income $ 217 $ 280 $ 344 $ (524 ) $ 317 Other significant items: Total assets $ 577,945 $ 84,353 $ 83,129 $ (169,845 ) $ 575,582 Total investment securities 231,386 — 80 — 231,466 Total loans, net 256,037 80,480 — (72,542 ) 263,975 Investment in subsidiaries 5 — 77,716 (77,716 ) 5 Fixed asset additions 3,224 5 — — 3,229 Depreciation and amortization expense 180 52 — — 232 Total interest income from external customers 3,124 4,072 — — 7,196 Total interest income from affiliates 1,012 — 3 (1,015 ) — All FUSB ALC Other Eliminations Consolidated (Dollars in Thousands) For the three months ended March 31 , 201 5 : Net interest income $ 3,844 $ 2,861 $ 2 $ — $ 6,707 Provision (reduction in reserve) for loan losses (525 ) 359 — — (166 ) Total non-interest income 1,149 220 1,113 (1,191 ) 1,291 Total non-interest expense 4,281 2,493 356 (153 ) 6,977 Income before income taxes 1,237 229 759 (1,038 ) 1,187 Provision for income taxes 370 86 (105 ) — 351 Net income $ 867 $ 143 $ 864 $ (1,038 ) $ 836 Other significant items: Total assets $ 567,318 $ 75,124 $ 82,175 $ (159,735 ) $ 564,882 Total investment securities 249,784 — 80 — 249,864 Total loans, net 231,778 70,786 — (63,346 ) 239,218 Investment in subsidiaries 5 — 76,865 (76,865 ) 5 Fixed asset addition 1,241 162 — — 1,403 Depreciation and amortization expense 153 60 — — 213 Total interest income from external customers 3,578 3,743 — — 7,321 Total interest income from affiliates 882 — 2 (884 ) — |
Note 15 - Guarantees, Commitmen
Note 15 - Guarantees, Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 15 . GUARANTEES, COMMITMENTS AND CONTINGENCIES The Bank ’s exposure to credit loss in the event of nonperformance by the other party for commitments to make loans and standby letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making these commitments as it does for on-balance sheet instruments. For interest rate swap transactions and commitments to purchase or sell securities for forward delivery, the contract or notional amounts do not represent exposure to credit loss. The Bank controls the credit risk of these derivative instruments through credit approvals, limits and monitoring procedures. Certain derivative contracts have credit risk for the carrying value plus the amount to replace such contracts in the event of counterparty default. All of the Bank’s financial instruments are held for risk management and not for trading purposes. During the three-month periods ended March 31, 2016 and 2015, respectively, there were no credit losses associated with derivative contracts. In the normal course of business, there are outstanding commitments and contingent liabilities, such as commitments to extend credit, letters of credit and others that are not included in the consolidated financial statements. The financial instruments involve, to varying degrees, elements of credit and interest rate risk in excess of amounts recognized in the financial statements. A summary of these commitments and contingent liabilities is presented below: March 3 1 , 201 6 December 31, 201 5 (Dollars in Thousands) Standby letters of credit $ 683 $ 683 Commitments to extend credit $ 47,288 $ 61,427 Standby letters of credit are contingent commitments issued by the Bank generally to guarantee the performance of a customer to a third party. The Bank has recourse against the customer for any amount that it is required to pay to a third party under a standby letter of credit. Revenues are recognized over the lives of the standby letters of credit. As of March 31, 2016 and December 31, 2015, the potential amount of future payments that the Bank could be required to make under its standby letters of credit, which represent the Bank’s total credit risk in this category, is included in the table above. A commitment to extend credit is an agreement to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon the extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment and income-producing commercial properties. Commitments to purchase securities for delayed delivery require the Bank to purchase a specified security at a specified price for delivery on a specified date. Similarly, commitments to sell securities for delayed delivery require the Bank to sell a specified security at a specified price for delivery on a specified date. Market risk arises from potential movements in security values and interest rates between the commitment and delivery dates. As of March 31, 2016, the Bank had $2.0 million in outstanding commitments to purchase securities for delayed delivery and no outstanding commitments to sell securities for delayed delivery. As of December 31, 2015, there were no outstanding commitments to purchase securities for delayed delivery and no outstanding commitments to sell securities for delayed delivery. Litigation The Company is a party to certain ordinary course litigation, and the Company intends to vigorously defend itself in all such litigation. In the opinion of the Company, based on review and consultation with legal counsel, the outcome of such ordinary course litigation should not have a material adverse effect on the Company’s consolidated financial statements or results of operations. |
Note 16 - Fair Value of Financi
Note 16 - Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 16. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows the provisions of ASC Topic 820, Fair Value Measurements and Disclosures Fair Value Hierarchy Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. In determining fair value, the Company uses various methods, including market, income and cost approaches. Based on these approaches, the Company often utilizes certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and/or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market-corroborated or generally unobservable. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Based on the observability of the inputs used in the valuation techniques, the Company is required to provide the following information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: ● Level 1 — Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange or Nasdaq. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. ● Level 2 — Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third-party pricing services for identical or similar assets or liabilities. ● Level 3 — Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer or broker-traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. The Company rarely transfers assets and liabilities measured at fair value between Level 1 and Level 2 measurements. Trading account assets and securities available-for-sale may be periodically transferred to or from Level 3 valuation based on management ’s conclusion regarding the best method of pricing for an individual security. Such transfers are accounted for as if they occurred at the beginning of a reporting period. There were no such transfers during the three months ended March 31, 2016 or the year ended December 31, 2015. Fair Value Measurements on a Recurring Basis Securities Available-for-Sale Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include exchange-traded equities. Level 2 securities include U.S. Treasury and agency securities, mortgage-backed agency securities, obligations of states and political subdivisions and certain corporate, asset-backed and other securities. Level 2 fair values are obtained from quoted prices of securities with similar characteristics. In certain cases, where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. Interest Rate Cap Derivative Agreements Interest rate cap agreements were included in other assets at fair value on the Company ’s balance sheet as of March 31, 2016. The interest rate caps qualify as derivatives but are not designated as hedging instruments. Accordingly, changes in fair value are included in results of operations. The fair value of these agreements is based on information obtained from third-party financial institutions. This information is periodically evaluated by the Company and, as necessary, corroborated against other third-party valuations. The Company classifies these derivative assets within Level 2 of the valuation hierarchy. The following table presents assets measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015. There were no liabilities measured at fair value on a recurring basis for either period presented. Fair Value Measurements as of March 3 1 , 201 6 Using Totals At March 3 1 , 201 6 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Investment securities, available-for-sale Mortgage-backed securities: Residential $ 129,936 $ — $ 129,936 $ — Commercial 51,740 — 51,740 — Obligations of states and political subdivisions 14,970 — 14,970 — Obligations of U.S. government-sponsored agencies 1,996 — 1,996 — Corporate notes 766 — 766 — U.S. Treasury securities 80 — 80 — Fair Value Measurements as of December 31, 201 5 Using Totals At December 31, 201 5 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Investment securities, available-for-sale Mortgage-backed securities: Residential $ 135,494 $ — $ 135,494 $ — Commercial 45,509 — 45,509 — Obligations of states and political subdivisions 14,998 — 14,998 — Obligations of U.S. government-sponsored agencies 1,982 — 1,982 — Corporate notes 780 — 780 — U.S. Treasury securities 80 — 80 — Other assets - derivatives 3 — 3 — Fair Value Measurements on a Non-recurring Basis Impaired Loans Loans that are considered impaired are loans for which, based on current information and events, it is probable that the Company will be unable to collect all principal and interest payments due under the contractual terms of the loan agreement. Impaired loans can be measured based on the present value of expected payments using the loan ’s original effective rate as the discount rate, the loan’s observable market price or the fair value of the collateral less estimated selling cost if the loan is collateral-dependent. For the Company, the fair value of impaired loans is primarily measured based on the value of the collateral securing the loans (typically real estate). The Company determines the fair value of the collateral based on independent appraisals performed by qualified licensed appraisers. The appraisals may include a single valuation approach or a combination of approaches, including comparable sales and income approaches. Appraised values are discounted for estimated costs to sell and may be discounted further based on management’s knowledge of the collateral, changes in market conditions since the most recent appraisal and/or management’s knowledge of the borrower and the borrower’s business. Such discounts by management are subjective and are typically significant unobservable inputs for determining fair value. Impaired loans are evaluated by management for additional impairment at least quarterly and are adjusted accordingly. OREO OREO consists of properties obtained through foreclosure or in satisfaction of loans and is recorded at the lower of the loan ’s carrying amount or the fair value of the property, less estimated cost to sell. Estimates of fair value are generally based on third-party appraisals of the property and are classified within Level 3 of the fair value hierarchy. The appraisals are sometimes discounted based on management’s knowledge of the property and/or changes in market conditions from the date of the most recent appraisal. Such discounts are typically significant unobservable inputs for determining fair value. The following table presents the balances of impaired loans and OREO measured at fair value on a non-recurring basis as of March 31, 2016 and December 31, 2015. Fair Value Measurements as of March 3 1 , 201 6 Using Totals At March 3 1 , 201 6 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Impaired loans $ 2,314 $ — $ — $ 2,314 OREO 5,356 — — 5,356 Fair Value Measurements as of December 31, 201 5 Using Totals At December 31, 201 5 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Impaired loans $ 2,350 $ — $ — $ 2,350 OREO 6,038 — — 6,038 Non-recurring Fair Value Measurements Using Significant Unobservable Inputs The following table presents information regarding assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of March 31, 2016. The table includes the valuation techniques and the significant unobservable inputs utilized. The range of each unobservable input and the weighted average within the range utilized as of March 31, 2016 are both included. Following the table is a description of the valuation technique and the sensitivity of the technique to changes in the significant unobservable input. Level 3 Significant Unobservable Input Assumptions Fair Value March 3 1 , 201 6 Valuation Technique Unobservable Input Quantitative Range of Unobservable Inputs (Weighted Average) (Dollars in Thousands) Non-recurring fair value measurements: Impaired loans $ 2,314 Multiple data points, including discount to appraised value of collateral based on recent market activity Appraisal comparability adjustment (discount) 9 % - 10% ( 9.5%) OREO $ 5,356 Discount to appraised value of property based on recent market activity for sales of similar properties Appraisal comparability adjustment (discount) 9 % - 10% ( 9.5%) Impaired Loans Impaired loans are valued based on multiple data points indicating the fair value for each loan. The primary data point is the appraisal value of the underlying collateral, to which a discount is applied. Management establishes this discount or comparability adjustment based on recent sales of similar property types. As liquidity in the market increases or decreases, the comparability adjustment and the resulting asset valuation are impacted. OREO OREO under a binding contract for sale is valued based on contract price. If no sales contract is pending for a specific property, management establishes a comparability adjustment to the appraised value based on historical activity, considering proceeds for properties sold versus the corresponding appraised value. Increases or decreases in realization for properties sold impact the comparability adjustment for similar assets remaining on the balance sheet. Fair Value of Financial Instruments ASC Topic 825, Financial Instruments Cash, due from banks and federal funds sold: The carrying amount of cash, due from banks and federal funds sold approximates fair value. Federal Home Loan Bank stock: Based on the redemption provision of the FHLB, the stock has no quoted market value and is carried at cost. Investment securities: Fair values of investment securities are based on quoted market prices where available. If quoted market prices are not available, estimated fair values are based on market prices of comparable instruments. Derivative instruments: The fair value of derivative instruments is based on information obtained from a third-party financial institution. This information is periodically evaluated by the Company and, as necessary, corroborated against other third-party information. Accrued interest receivable and payable: The carrying amount of accrued interest approximates fair value. Loans, net: For variable-rate loans, fair values are based on carrying values. Fixed-rate commercial loans, other installment loans and certain real estate mortgage loans are valued using discounted cash flows. The discount rate used to determine the present value of these loans is based on interest rates currently being charged by the Company on comparable loans as to credit risk and term. Demand and savings deposits: The fair values of demand deposits are equal to the carrying value of such deposits. Demand deposits include non-interest-bearing demand deposits, savings accounts, NOW accounts and money market demand accounts. Time deposits: The fair values of relatively short-term time deposits are equal to their carrying values. Discounted cash flows are used to value long-term time deposits. The discount rate used is based on interest rates currently being offered by the Company on comparable deposits as to amount and term. Short-term borrowings: These borrowings may consist of federal funds purchased, securities sold under agreements to repurchase and the floating rate borrowings from the FHLB account. Due to the short-term nature of these borrowings, fair values approximate carrying values. Long-term debt: The fair value of this debt is estimated using discounted cash flows based on the Company’s current incremental borrowing rate for similar types of borrowing arrangements as of March 31, 2016 and December 31, 2015. Off-balance sheet instruments: The carrying amount of commitments to extend credit and standby letters of credit approximates fair value. The carrying amount of the off-balance sheet financial instruments is based on fees currently charged to enter into such agreements. The estimated fair value and related carrying or notional amounts, as well as the level within the fair value hierarchy, of the Company ’s financial instruments as of March 31, 2016 and December 31, 2015, were as follows: March 3 1 , 201 6 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (Dollars in Thousands) Assets: Cash and cash equivalents $ 30,486 $ 30,486 $ 30,486 $ — $ — Investment securities available-for-sale 199,488 199,488 — 199,488 — Investment securities held-to-maturity 31,978 32,003 — 32,003 — Federal funds sold 3,000 3,000 3,000 — — Federal Home Loan Bank stock 730 730 — — 730 Loans, net of allowance for loan losses 263,975 265,380 — — 265,380 Other assets – derivatives — — — — — Liabilities: Deposits 485,537 485,938 — 485,938 — Short-term borrowings 446 445 — 445 — Long-term borrowings 5,000 4,992 — 4,992 — December 31, 201 5 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (Dollars in Thousands) Assets: Cash and cash equivalents $ 44,072 $ 44,072 $ 44,072 $ — $ — Investment securities available-for-sale 198,843 198,843 — 198,843 — Investment securities held-to-maturity 32,359 32,184 — 32,184 — Federal Home Loan Bank stock 1,025 1,025 — — 1,025 Loans, net of allowance for loan losses 255,432 256,392 — — 256,392 Other assets – derivatives 3 3 — 3 — Liabilities: Deposits 479,258 478,833 — 478,833 — Short-term borrowings 7,354 7,352 — 7,352 — Long-term borrowings 5,000 4,977 — 4,977 — |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842).” Issued in February 2016, ASU 2016-02 will require organizations that lease assets (lessees) to recognize on the balance sheet the assets and liabilities for the rights and obligations created by the lease for all leases with a term of more than 12 months. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee are not significantly changed under ASU 2016-02. There will continue to be differentiation between finance leases and operating leases. For finance leases, a lessee will be required to (i) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial position; (ii) recognize interest on the lease liability separately from amortization of the right-of-use asset in the statement of income; and (iii) classify repayments of the principal portion of the lease liability within financing activities and payments of interest on the lease liability within operating activities on the statement of cash flows. For operating leases, a lessee will be required to (i) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial position; (ii) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis; and (iii) classify all cash payments within operating activities in the statement of cash flows. The accounting applied by the lessor in a lease transaction remains largely unchanged from previous U.S. GAAP. ASU 2016-02 is effective for fiscal years beginning after December 15, 2019 and interim periods within fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact that this ASU will have on the Company’s consolidated financial statements. ASU 2016-01, “Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (An Amendment of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification).” ASU 2015-05, “ Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement .” ASU 2015-02, “ Consolidation (Topic 810): Amendments to the Consolidation Analysis .” ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” Issued in May 2014, ASU 2014-09 will add FASB ASC Topic 606, Revenue from Contracts with Customers, FASB ASC Topic 605, Revenue Recognition , FASB ASC Topic 605-35, Revenue Recognition – Construction-Type and Production-Type Contracts. ASU 2015-14, “Revenue from Contracts with Customers (Topic 606)-Deferral of the Effective Date,” ASU 2014-04 , “ Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force). ” |
Note 3 - Net Income Per Share (
Note 3 - Net Income Per Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2016 2015 Basic shares 6,143,267 6,134,808 Dilutive shares 272,550 177,050 Diluted shares 6,415,817 6,311,858 Three Months Ended March 31, 2016 2015 (Dollars in Thousands, Except Per Share Data) Net income $ 317 $ 836 Basic net income per share $ 0.05 $ 0.14 Diluted net income per share $ 0.05 $ 0.13 |
Note 5 - Investment Securities
Note 5 - Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Schedule of Investment Securities Available-for-sale and Held-to-Maturity [Table Text Block] | Available-for-Sale March 31 , 201 6 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Residential $ 128,972 $ 1,136 $ (172 ) $ 129,936 Commercial 52,117 172 (549 ) 51,740 Obligations of states and political subdivisions 14,049 922 (1 ) 14,970 Obligations of U.S. government-sponsored agencies 2,000 — (4 ) 1,996 Corporate notes 774 — (8 ) 766 U.S. Treasury securities 80 — — 80 Total $ 197,992 $ 2,230 $ (734 ) $ 199,488 Held-to-Maturity March 31 , 201 6 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Commercial $ 18,205 $ 34 $ (56 ) $ 18,183 Obligations of U.S. government-sponsored agencies 11,556 31 (8 ) 11,579 Obligations of states and political subdivisions 2,217 25 (1 ) 2,241 Total $ 31,978 $ 90 $ (65 ) $ 32,003 Available-for-Sale December 31, 201 5 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Residential $ 135,104 $ 998 $ (608 ) $ 135,494 Commercial 45,961 164 (616 ) 45,509 Obligations of states and political subdivisions 14,071 931 (4 ) 14,998 Obligations of U.S. government-sponsored agencies 1,999 — (17 ) 1,982 Corporate notes 780 — — 780 U.S. Treasury securities 80 — — 80 Total $ 197,995 $ 2,093 $ (1,245 ) $ 198,843 Held-to-Maturity December 31, 201 5 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (Dollars in Thousands) Mortgage-backed securities: Commercial $ 16,321 $ 33 $ (170 ) $ 16,184 Obligations of U.S. government-sponsored agencies 13,766 19 (71 ) 13,714 Obligations of states and political subdivisions 2,272 18 (4 ) 2,286 Total $ 32,359 $ 70 $ (245 ) $ 32,184 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available-for-Sale Held-to-Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (Dollars in Thousands) Maturing within one year $ 2,119 $ 2,135 $ — $ — Maturing after one to five years 4,762 4,921 2,271 2,294 Maturing after five to ten years 114,008 114,795 9,852 9,879 Maturing after ten years 77,103 77,637 19,855 19,830 Total $ 197,992 $ 199,488 $ 31,978 $ 32,003 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Available-for-Sale March 31 , 201 6 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Residential $ 44,994 $ (128 ) $ 5,321 $ (44 ) Commercial 24,822 (107 ) 13,515 (442 ) Obligations of U.S. government-sponsored agencies 1,996 (4 ) — — Corporate notes 766 (8 ) — — Obligations of states and political subdivisions 446 (1 ) — — Total $ 73,024 $ (248 ) $ 18,836 $ (486 ) Held-to-Maturity March 31 , 201 6 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Commercial $ 13,557 $ (56 ) $ — $ — Obligations of U.S. government-sponsored agencies 1,579 (8 ) — — Obligations of states and political subdivisions 572 (1 ) — — Total $ 15,708 $ (65 ) $ — $ — Available-for-Sale December 31, 201 5 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Residential $ 83,403 $ (458 ) $ 9,061 $ (150 ) Commercial 24,337 (272 ) 8,918 (344 ) Obligations of U.S. government-sponsored agencies 1,982 (17 ) — — Corporate notes 779 — — — Obligations of states and political subdivisions 707 (4 ) — — Total $ 111,208 $ (751 ) $ 17,979 $ (494 ) Held-to-Maturity December 31, 201 5 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Commercial $ 14,143 $ (170 ) $ — $ — Obligations of U.S. government-sponsored agencies 11,163 (44 ) 1,560 (27 ) Obligations of states and political subdivisions 572 (4 ) — — Total $ 25,878 $ (218 ) $ 1,560 $ (27 ) |
Note 6 - Loans and Allowance 26
Note 6 - Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31 , 201 6 FUSB ALC Total (Dollars in Thousands) Real estate loans: Construction, land development and other land loans $ 18,023 $ — $ 18,023 Secured by 1-4 family residential properties 30,623 16,265 46,888 Secured by multi-family residential properties 11,580 — 11,580 Secured by non-farm, non-residential properties 82,754 — 82,754 Other 168 — 168 Commercial and industrial loans 34,568 — 34,568 Consumer loans 6,614 74,669 81,283 Other loans 407 — 407 Total loans 184,737 90,934 275,671 Less: Unearned interest, fees and deferred cost 174 8,147 8,321 Allowance for loan losses 1,068 2,307 3,375 Net loans $ 183,495 $ 80,480 $ 263,975 December 31, 201 5 FUSB ALC Total (Dollars in Thousands) Real estate loans: Construction, land development and other land loans $ 11,827 $ — $ 11,827 Secured by 1-4 family residential properties 30,730 17,233 47,963 Secured by multi-family residential properties 11,845 — 11,845 Secured by non-farm, non-residential properties 83,883 — 83,883 Other 115 — 115 Commercial and industrial loans 29,377 — 29,377 Consumer loans 7,057 76,131 83,188 Other loans 379 — 379 Total loans 175,213 93,364 268,577 Less: Unearned interest, fees and deferred cost 149 9,215 9,364 Allowance for loan losses 1,329 2,452 3,781 Net loans $ 173,735 $ 81,697 $ 255,432 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | FUSB Three M onths Ended March 31 , 201 6 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 133 $ 1,118 $ 28 $ 36 $ 14 $ 1,329 Charge-offs — — (21 ) — — (21 ) Recoveries 12 — 23 5 — 40 Provision 107 (487 ) (8 ) 117 (9 ) (280 ) Ending balance 252 631 22 158 5 1,068 Ending balance individually evaluated for impairment 72 220 — — — 292 Ending balance collectively evaluated for impairment $ 180 $ 411 $ 22 $ 158 $ 5 $ 776 Loan receivables: Ending balance 34,568 112,525 6,614 30,623 407 184,737 Ending balance individually evaluated for impairment 436 2,224 — — — 2,660 Ending balance collectively evaluated for impairment $ 34,132 $ 110,301 $ 6,614 $ 30,623 $ 407 $ 182,077 ALC Three Months Ended March 31 , 201 6 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ — $ — $ 2,202 $ 250 $ — $ 2,452 Charge-offs — — (765 ) (5 ) — (770 ) Recoveries — — 174 4 — 178 Provision — — 500 (53 ) — 447 Ending balance — — 2,111 196 — 2,307 Ending balance individually evaluated for impairment — — — — — — Ending balance collectively evaluated for impairment $ — $ — $ 2,111 $ 196 $ — $ 2,307 Loan receivables: Ending balance — — 74,669 16,265 — 90,934 Ending balance individually evaluated for impairment — — — — — — Ending balance collectively evaluated for impairment $ — $ — $ 74,669 $ 16,265 $ — $ 90,934 FUSB & ALC Three Months Ended March 31 , 201 6 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 133 $ 1,118 $ 2,230 $ 286 $ 14 $ 3,781 Charge-offs — — (786 ) (5 ) — (791 ) Recoveries 12 — 197 9 — 218 Provision 107 (487 ) 492 64 (9 ) 167 Ending balance 252 631 2,133 354 5 3,375 Ending balance individually evaluated for impairment 72 220 — — — 292 Ending balance collectively evaluated for impairment $ 180 $ 411 $ 2,133 $ 354 $ 5 $ 3,083 Loan receivables: Ending balance 34,568 112,525 81,283 46,888 407 275,671 Ending balance individually evaluated for impairment 436 2,224 — — — 2,660 Ending balance collectively evaluated for impairment $ 34,132 $ 110,301 $ 81,283 $ 46,888 $ 407 $ 273,011 FUSB Year Ended December 31, 201 5 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 141 $ 2,810 $ 114 $ 421 $ — $ 3,486 Charge-offs — (767 ) (17 ) (68 ) — (852 ) Recoveries 61 12 70 111 — 254 Provision (69 ) (937 ) (139 ) (428 ) 14 (1,559 ) Ending balance 133 1,118 28 36 — 1,329 Ending balance individually evaluated for impairment 80 230 — — — 310 Ending balance collectively evaluated for impairment $ 53 $ 888 $ 28 $ 36 $ 14 $ 1,019 Loan receivables: Ending balance 29,377 107,670 7,057 30,730 379 175,213 Ending balance individually evaluated for impairment 444 2,270 — — — 2,714 Ending balance collectively evaluated for impairment $ 28,933 $ 105,400 $ 7,057 $ 30,730 $ 379 $ 172,499 ALC Year Ended December 31, 201 5 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ — $ — $ 2,336 $ 346 $ — $ 2,682 Charge-offs — — (2,552 ) (187 ) — (2,739 ) Recoveries — — 712 22 — 734 Provision — — 1,706 69 — 1,775 Ending balance — — 2,202 250 — 2,452 Ending balance individually evaluated for impairment — — — — — — Ending balance collectively evaluated for impairment $ — $ — $ 2,202 $ 250 $ — $ 2,452 Loan receivables: Ending balance — — 76,131 17,233 — 93,364 Ending balance individually evaluated for impairment — — — — — — Ending balance collectively evaluated for impairment $ — $ — $ 76,131 $ 17,233 $ — $ 93,364 FUSB & ALC Year Ended December 31, 201 5 Commercial Commercial Real Estate Consumer Residential Real Estate Other Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 141 $ 2,810 $ 2,450 $ 767 $ — $ 6,168 Charge-offs — (767 ) (2,569 ) (255 ) — (3,591 ) Recoveries 61 12 782 133 — 988 Provision (69 ) (937 ) 1,567 (359 ) 14 216 Ending balance 133 1,118 2,230 286 — 3,781 Ending balance individually evaluated for impairment 80 230 — — — 310 Ending balance collectively evaluated for impairment $ 53 $ 888 $ 2,230 $ 286 $ 14 $ 3,471 Loan receivables: Ending balance 29,377 107,670 83,188 47,963 379 268,577 Ending balance individually evaluated for impairment 444 2,270 — — — 2,714 Ending balance collectively evaluated for impairment $ 28,933 $ 105,400 $ 83,188 $ 47,963 $ 379 $ 265,863 |
Financing Receivable Credit Quality Indicators [Table Text Block] | FUSB Pass 1-5 Special Mention 6 Substandard 7 Doubtful 8 Total (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 16,100 $ — $ 1,923 $ — $ 18,023 Secured by 1-4 family residential properties 29,216 224 1,183 — 30,623 Secured by multi-family residential properties 11,580 — — — 11,580 Secured by non-farm, non-residential properties 77,869 3,989 896 — 82,754 Other 168 — — — 168 Commercial and industrial loans 33,381 480 707 — 34,568 Consumer loans 6,499 — 115 — 6,614 Other loans 407 — — — 407 Total $ 175,220 $ 4,693 $ 4,824 $ — $ 184,737 ALC Performing Nonperforming Total (Dollars in Thousands) Loans secured by real estate: Secured by 1-4 family residential properties $ 15,856 $ 409 $ 16,265 Consumer loans 73,265 1,404 74,669 Total $ 89,121 $ 1,813 $ 90,934 FUSB Pass 1-5 Special Mention 6 Substandard 7 Doubtful 8 Total (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 9,862 $ — $ 1,965 $ — $ 11,827 Secured by 1-4 family residential properties 29,252 228 1,250 — 30,730 Secured by multi-family residential properties 11,845 — — — 11,845 Secured by non-farm, non-residential properties 78,647 4,315 921 — 83,883 Other 115 — — — 115 Commercial and industrial loans 28,170 482 752 — 29,377 Consumer loans 6,905 — 152 — 7,057 Other loans 379 — — — 379 Total $ 165,175 $ 5,025 $ 5,013 $ — $ 175,213 ALC Performing Nonperforming Total (Dollars in Thousands) Loans secured by real estate: Secured by 1-4 family residential properties $ 16,964 $ 269 $ 17,233 Consumer loans 74,743 1,388 76,131 Total $ 91,707 $ 1,657 $ 93,364 |
Past Due Financing Receivables [Table Text Block] | FUSB As of March 31 , 201 6 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 40 $ — $ 86 $ 126 $ 17,897 $ 18,023 $ — Secured by 1-4 family residential properties 69 25 463 557 30,066 30,623 — Secured by multi-family residential properties — — — — 11,580 11,580 — Secured by non-farm, non-residential properties — — 148 148 82,606 82,754 — Other — — — — 168 168 — Commercial and industrial loans 73 38 — 111 34,457 34,568 — Consumer loans 38 — 22 60 6,554 6,614 — Other loans — — — — 407 407 — Total $ 220 $ 63 $ 719 $ 1,002 $ 183,735 $ 184,737 $ — ALC As of March 31 , 201 6 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ — $ — $ — $ — $ — Secured by 1-4 family residential properties 25 15 392 432 15,833 16,265 — Secured by multi-family residential properties — — — — — — — Secured by non-farm, non-residential properties — — — — — — — Other — — — — — — — Commercial and industrial loans — — — — — — — Consumer loans 659 517 1,394 2,570 72,099 74,669 — Other loans — — — — — — — Total $ 684 $ 532 $ 1,786 $ 3,002 $ 87,932 $ 90,934 $ — FUSB As of December 31, 201 5 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ 86 $ 86 $ 11,741 $ 11,827 $ — Secured by 1-4 family residential properties 118 206 360 684 30,046 30,730 — Secured by multi-family residential properties — — — — 11,845 11,845 — Secured by non-farm, non-residential properties 530 — 148 678 83,205 83,883 — Other — — — — 115 115 — Commercial and industrial loans 22 52 — 74 29,303 29,377 — Consumer loans 49 4 83 136 6,921 7,057 — Other loans — — — — 379 379 — Total $ 719 $ 262 $ 677 $ 1,658 $ 173,555 $ 175,213 $ — ALC As of December 31, 201 5 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ — $ — $ — $ — $ — Secured by 1-4 family residential properties 91 206 252 549 16,684 17,233 — Secured by multi-family residential properties — — — — — — — Secured by non-farm, non-residential properties — — — — — — — Other — — — — — — — Commercial and industrial loans — — — — — — — Consumer loans 965 567 1,377 2,909 73,222 76,131 — Other loans — — — — — — — Total $ 1,056 $ 773 $ 1,629 $ 3,458 $ 89,906 $ 93,364 $ — |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | Loans on Non-Accrual Status March 31 , 201 6 December 31, 201 5 (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 334 $ 339 Secured by 1-4 family residential properties 1,178 968 Secured by multi-family residential properties — — Secured by non-farm, non-residential properties 205 213 Commercial and industrial loans 46 47 Consumer loans 1,514 1,535 Total loans $ 3,277 $ 3,102 |
Impaired Financing Receivables [Table Text Block] | March 31 , 201 6 Impaired loans with no related allowance recorded Carrying Amount Unpaid Principal Balance Related Allowances (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ — $ — $ — Secured by 1-4 family residential properties 54 54 — Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties — — — Commercial and industrial — — — Total loans with no related allowance recorded $ 54 $ 54 $ — Impaired loans with an allowance recorded Loans secured by real estate Construction, land development and other land loans $ 1,411 $ 1,411 $ 95 Secured by 1-4 family residential properties 197 197 5 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 562 562 120 Commercial and industrial 436 436 72 Total loans with an allowance recorded $ 2,606 $ 2,606 $ 292 Total impaired loans Loans secured by real estate Construction, land development and other land loans $ 1,411 $ 1,411 $ 95 Secured by 1-4 family residential properties 251 251 5 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 562 562 120 Commercial and industrial 436 436 72 Total impaired loans $ 2,660 $ 2,660 $ 292 December 31, 201 5 Impaired loans with no related allowance recorded Carrying Amount Unpaid Principal Balance Related Allowances (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ — $ — $ — Secured by 1-4 family residential properties 54 54 — Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties — — — Commercial and industrial — — — Total loans with no related allowance recorded $ 54 $ 54 $ — Impaired loans with an allowance recorded Loans secured by real estate Construction, land development and other land loans $ 1,445 $ 1,445 $ 95 Secured by 1-4 family residential properties 198 198 5 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 573 573 130 Commercial and industrial 444 444 80 Total loans with an allowance recorded $ 2,660 $ 2,660 $ 310 Total impaired loans Loans secured by real estate Construction, land development and other land loans $ 1,445 $ 1,445 $ 95 Secured by 1-4 family residential properties 252 252 5 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 573 573 130 Commercial and industrial 444 444 80 Total impaired loans $ 2,714 $ 2,714 $ 310 |
Average Net Investment Impaired Loans and Interest Income Recognized and Received on Impaired Loans [Table Text Block] | March 31 , 201 6 Average Recorded Investment Interest Income Recognized Interest Income Received (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ 1,410 $ 11 $ 11 Secured by 1-4 family residential properties 252 3 3 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 566 8 8 Commercial and industrial 439 6 6 Total $ 2,667 $ 28 $ 28 December 31, 201 5 Average Recorded Investment Interest Income Recognized Interest Income Received (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ 1,493 $ 44 $ 46 Secured by 1-4 family residential properties 139 14 14 Secured by multi-family residential properties 1,892 — — Secured by non-farm, non-residential properties 3,329 35 36 Commercial and industrial 264 26 26 Total $ 7,117 $ 119 $ 122 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | March 31 , 201 6 December 31, 201 5 Number of Loans Pre- Modification Outstanding Principal Balance Post- Modification Principal Balance Number of Loans Pre- Modification Outstanding Principal Balance Post- Modification Principal Balance (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans 3 $ 2,220 $ 1,659 3 $ 2,220 $ 1,698 Secured by 1-4 family residential properties 4 200 102 4 200 103 Secured by non-farm, non-residential properties 2 113 49 2 113 52 Commercial loans 2 116 94 2 116 94 Total 11 $ 2,649 $ 1,904 11 $ 2,649 $ 1,947 |
Note 7 - Other Real Estate Ow27
Note 7 - Other Real Estate Owned (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Other Real Estate Assets Acquired in Foreclosure Roll Forward [Table Text Block] | March 31 , 201 6 FUSB ALC Total (Dollars in Thousands) Beginning balance $ 5,327 $ 711 $ 6,038 Transfers from loans — 18 18 Sales proceeds (609 ) (77 ) (686 ) Gross gains — 25 25 Gross losses (16 ) — (16 ) Net gains (losses) (16 ) 25 9 Impairment — (23 ) (23 ) Ending balance $ 4,702 $ 654 $ 5,356 March 31 , 201 5 FUSB ALC Total (Dollars in Thousands) Beginning balance $ 6,997 $ 738 $ 7,735 Transfers from loans 995 63 1,058 Sales proceeds (40 ) (66 ) (106 ) Gross gains — — — Gross losses (3 ) (46 ) (49 ) Net gains (losses) (3 ) (46 ) (49 ) Impairment — (30 ) (30 ) Ending balance $ 7,949 $ 659 $ 8,608 |
Note 13 - Stock Option Grants (
Note 13 - Stock Option Grants (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2016 2015 Risk-free interest rate 1.58 % 1.52 % Expected term 7.5 years 7.5 years Expected stock price volatility 25.25 % 54.04 % Dividend yield 1.50 % 1.50 % |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Three Months Ended March 31 , 201 6 March 31 , 201 5 Number of Shares Average Exercise Price Number of Shares Average Exercise Price Options: Outstanding, beginning of period 175,550 $ 8.17 83,400 $ 8.09 Granted 97,000 8.30 96,150 8.23 Exercised — — — — Expired — — — — Forfeited — — 2,500 8.09 Options outstanding, end of period 272,550 $ 8.21 177,050 $ 8.16 Options exercisable, end of period 175,550 $ 8.17 81,900 $ 8.09 |
Note 14 - Segment Reporting (Ta
Note 14 - Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | All FUSB ALC Other Eliminations Consolidated (Dollars in Thousands) For the three months ended March 3 1 , 201 6 : Net interest income $ 3,598 $ 3,060 $ 3 $ — $ 6,661 Provision (reduction in reserve) for loan losses (280 ) 447 — — 167 Total non-interest income 721 252 675 (659 ) 989 Total non-interest expense 4,334 2,427 440 (135 ) 7,066 Income before income taxes 265 438 238 (524 ) 417 Provision for income taxes 48 158 (106 ) — 100 Net income $ 217 $ 280 $ 344 $ (524 ) $ 317 Other significant items: Total assets $ 577,945 $ 84,353 $ 83,129 $ (169,845 ) $ 575,582 Total investment securities 231,386 — 80 — 231,466 Total loans, net 256,037 80,480 — (72,542 ) 263,975 Investment in subsidiaries 5 — 77,716 (77,716 ) 5 Fixed asset additions 3,224 5 — — 3,229 Depreciation and amortization expense 180 52 — — 232 Total interest income from external customers 3,124 4,072 — — 7,196 Total interest income from affiliates 1,012 — 3 (1,015 ) — All FUSB ALC Other Eliminations Consolidated (Dollars in Thousands) For the three months ended March 31 , 201 5 : Net interest income $ 3,844 $ 2,861 $ 2 $ — $ 6,707 Provision (reduction in reserve) for loan losses (525 ) 359 — — (166 ) Total non-interest income 1,149 220 1,113 (1,191 ) 1,291 Total non-interest expense 4,281 2,493 356 (153 ) 6,977 Income before income taxes 1,237 229 759 (1,038 ) 1,187 Provision for income taxes 370 86 (105 ) — 351 Net income $ 867 $ 143 $ 864 $ (1,038 ) $ 836 Other significant items: Total assets $ 567,318 $ 75,124 $ 82,175 $ (159,735 ) $ 564,882 Total investment securities 249,784 — 80 — 249,864 Total loans, net 231,778 70,786 — (63,346 ) 239,218 Investment in subsidiaries 5 — 76,865 (76,865 ) 5 Fixed asset addition 1,241 162 — — 1,403 Depreciation and amortization expense 153 60 — — 213 Total interest income from external customers 3,578 3,743 — — 7,321 Total interest income from affiliates 882 — 2 (884 ) — |
Note 15 - Guarantees, Commitm30
Note 15 - Guarantees, Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | March 3 1 , 201 6 December 31, 201 5 (Dollars in Thousands) Standby letters of credit $ 683 $ 683 Commitments to extend credit $ 47,288 $ 61,427 |
Note 16 - Fair Value of Finan31
Note 16 - Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements as of March 3 1 , 201 6 Using Totals At March 3 1 , 201 6 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Investment securities, available-for-sale Mortgage-backed securities: Residential $ 129,936 $ — $ 129,936 $ — Commercial 51,740 — 51,740 — Obligations of states and political subdivisions 14,970 — 14,970 — Obligations of U.S. government-sponsored agencies 1,996 — 1,996 — Corporate notes 766 — 766 — U.S. Treasury securities 80 — 80 — Fair Value Measurements as of December 31, 201 5 Using Totals At December 31, 201 5 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Investment securities, available-for-sale Mortgage-backed securities: Residential $ 135,494 $ — $ 135,494 $ — Commercial 45,509 — 45,509 — Obligations of states and political subdivisions 14,998 — 14,998 — Obligations of U.S. government-sponsored agencies 1,982 — 1,982 — Corporate notes 780 — 780 — U.S. Treasury securities 80 — 80 — Other assets - derivatives 3 — 3 — |
Fair Value Assets Measured On Nonrecurring Basis [Table Text Block] | Fair Value Measurements as of March 3 1 , 201 6 Using Totals At March 3 1 , 201 6 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Impaired loans $ 2,314 $ — $ — $ 2,314 OREO 5,356 — — 5,356 Fair Value Measurements as of December 31, 201 5 Using Totals At December 31, 201 5 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Impaired loans $ 2,350 $ — $ — $ 2,350 OREO 6,038 — — 6,038 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Level 3 Significant Unobservable Input Assumptions Fair Value March 3 1 , 201 6 Valuation Technique Unobservable Input Quantitative Range of Unobservable Inputs (Weighted Average) (Dollars in Thousands) Non-recurring fair value measurements: Impaired loans $ 2,314 Multiple data points, including discount to appraised value of collateral based on recent market activity Appraisal comparability adjustment (discount) 9 % - 10% ( 9.5%) OREO $ 5,356 Discount to appraised value of property based on recent market activity for sales of similar properties Appraisal comparability adjustment (discount) 9 % - 10% ( 9.5%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 3 1 , 201 6 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (Dollars in Thousands) Assets: Cash and cash equivalents $ 30,486 $ 30,486 $ 30,486 $ — $ — Investment securities available-for-sale 199,488 199,488 — 199,488 — Investment securities held-to-maturity 31,978 32,003 — 32,003 — Federal funds sold 3,000 3,000 3,000 — — Federal Home Loan Bank stock 730 730 — — 730 Loans, net of allowance for loan losses 263,975 265,380 — — 265,380 Other assets – derivatives — — — — — Liabilities: Deposits 485,537 485,938 — 485,938 — Short-term borrowings 446 445 — 445 — Long-term borrowings 5,000 4,992 — 4,992 — December 31, 201 5 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (Dollars in Thousands) Assets: Cash and cash equivalents $ 44,072 $ 44,072 $ 44,072 $ — $ — Investment securities available-for-sale 198,843 198,843 — 198,843 — Investment securities held-to-maturity 32,359 32,184 — 32,184 — Federal Home Loan Bank stock 1,025 1,025 — — 1,025 Loans, net of allowance for loan losses 255,432 256,392 — — 256,392 Other assets – derivatives 3 3 — 3 — Liabilities: Deposits 479,258 478,833 — 478,833 — Short-term borrowings 7,354 7,352 — 7,352 — Long-term borrowings 5,000 4,977 — 4,977 — |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
December 31, 2015 [Member] | Reclassification from Other Liabilities to Surplus [Member] | |
Prior Period Reclassification Adjustment | $ 0.7 |
Note 3 - Net Income Per Share -
Note 3 - Net Income Per Share - Summary of Basic and Diluted Net Income Per Share Calculations (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Basic shares (in shares) | 6,143,267 | 6,134,808 |
Dilutive shares (in shares) | 272,550 | 177,050 |
Diluted shares (in shares) | 6,415,817 | 6,311,858 |
Net income | $ 317 | $ 836 |
Basic net income per share (in dollars per share) | $ 0.05 | $ 0.14 |
Diluted net income per share (in dollars per share) | $ 0.05 | $ 0.13 |
Note 5 - Investment Securitie34
Note 5 - Investment Securities (Details Textual) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2015USD ($) | |
Available-for-sale Securities, Gross Realized Losses | $ 0 | $ 0 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 0 | 13 | |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | $ 0 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 68 | 102 | |
Available-for-sale Securities Pledged as Collateral | 60,200,000 | $ 61,300,000 | |
Available-for-sale Securities, Gross Realized Gain (Loss) | $ 2,000 | $ 277,000 | $ 400,000 |
Note 5 - Investment Securitie35
Note 5 - Investment Securities Available-for-sale and Held-to-maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-Sale, Amortized Cost | $ 128,972 | $ 135,104 |
Available-for-Sale, Gross Unrealized Gains | 1,136 | 998 |
Available-for-Sale, Gross Unrealized Losses | (172) | (608) |
Available-for-Sale, Estimated Fair Value | 129,936 | 135,494 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-Sale, Amortized Cost | 52,117 | 45,961 |
Available-for-Sale, Gross Unrealized Gains | 172 | 164 |
Available-for-Sale, Gross Unrealized Losses | (549) | (616) |
Available-for-Sale, Estimated Fair Value | 51,740 | 45,509 |
Held-to-Maturity, Amortized Cost | 18,205 | 16,321 |
Held-to-Maturity, Gross Unrealized Gains | 34 | 33 |
Held-to-Maturity, Gross Unrealized Losses | (56) | (170) |
Held-to-Maturity, Estimated Fair Value | 18,183 | 16,184 |
US Government Agencies Debt Securities [Member] | ||
Available-for-Sale, Amortized Cost | $ 2,000 | $ 1,999 |
Available-for-Sale, Gross Unrealized Gains | ||
Available-for-Sale, Gross Unrealized Losses | $ (4) | $ (17) |
Available-for-Sale, Estimated Fair Value | 1,996 | 1,982 |
Held-to-Maturity, Amortized Cost | 11,556 | 13,766 |
Held-to-Maturity, Gross Unrealized Gains | 31 | 19 |
Held-to-Maturity, Gross Unrealized Losses | (8) | (71) |
Held-to-Maturity, Estimated Fair Value | 11,579 | 13,714 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-Sale, Amortized Cost | 14,049 | 14,071 |
Available-for-Sale, Gross Unrealized Gains | 922 | 931 |
Available-for-Sale, Gross Unrealized Losses | (1) | (4) |
Available-for-Sale, Estimated Fair Value | 14,970 | 14,998 |
Held-to-Maturity, Amortized Cost | 2,217 | 2,272 |
Held-to-Maturity, Gross Unrealized Gains | 25 | 18 |
Held-to-Maturity, Gross Unrealized Losses | (1) | (4) |
Held-to-Maturity, Estimated Fair Value | 2,241 | 2,286 |
Corporate Debt Securities [Member] | ||
Available-for-Sale, Amortized Cost | $ 774 | $ 780 |
Available-for-Sale, Gross Unrealized Gains | ||
Available-for-Sale, Gross Unrealized Losses | $ (8) | |
Available-for-Sale, Estimated Fair Value | 766 | $ 780 |
US Treasury Securities [Member] | ||
Available-for-Sale, Amortized Cost | $ 80 | $ 80 |
Available-for-Sale, Gross Unrealized Gains | ||
Available-for-Sale, Gross Unrealized Losses | ||
Available-for-Sale, Estimated Fair Value | $ 80 | $ 80 |
Available-for-Sale, Amortized Cost | 197,992 | 197,995 |
Available-for-Sale, Gross Unrealized Gains | 2,230 | 2,093 |
Available-for-Sale, Gross Unrealized Losses | (734) | (1,245) |
Available-for-Sale, Estimated Fair Value | 199,488 | 198,843 |
Held-to-Maturity, Amortized Cost | 31,978 | 32,359 |
Held-to-Maturity, Gross Unrealized Gains | 90 | 70 |
Held-to-Maturity, Gross Unrealized Losses | (65) | (245) |
Held-to-Maturity, Estimated Fair Value | $ 32,003 | $ 32,184 |
Note 5 - Investment Securitie36
Note 5 - Investment Securities - Scheduled Maturities of Investment Securities Available-for-sale and Held-to-maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Available-for-Sale, Maturing within one year, Amortized Cost | $ 2,119 | |
Available-for-Sale, Maturing within one year, Estimated Fair Value | $ 2,135 | |
Held-to-Maturity, Maturing within one year, Amortized Cost | ||
Held-to-Maturity, Maturing within one year, Estimated Fair Value | ||
Available-for-Sale, Maturing after one to five years, Amortized Cost | $ 4,762 | |
Available-for-Sale, Maturing after one to five years, Estimated Fair Value | 4,921 | |
Held-to-Maturity, Maturing after one to five years, Amortized Cost | 2,271 | |
Held-to-Maturity, Maturing after one to five years, Estimated Fair Value | 2,294 | |
Available-for-Sale, Maturing after five to ten years, Amortized Cost | 114,008 | |
Available-for-Sale, Maturing after five to ten years, Estimated Fair Value | 114,795 | |
Held-to-Maturity, Maturing after five to ten years, Amortized Cost | 9,852 | |
Held-to-Maturity, Maturity after five to ten years, Estimated Fair Value | 9,879 | |
Available-for-Sale, Maturing after ten years, Amortized Cost | 77,103 | |
Available-for-Sale, Maturing after ten years, Estimated Fair Value | 77,637 | |
Held-to-Maturity, Maturing after ten years, Amortized Cost | 19,855 | |
Held-to-Maturity, Maturing after ten years, Estimated Fair Value | 19,830 | |
Available-for-Sale, Amortized Cost | 197,992 | $ 197,995 |
Investment securities available-for-sale, at fair value | 199,488 | 198,843 |
Investment securities held-to-maturity, at amortized cost | 31,978 | 32,359 |
Investment securities held-to-maturity, fair value | $ 32,003 | $ 32,184 |
Note 5 - Investments' Gross Unr
Note 5 - Investments' Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-Sale, Less than 12 Months, Fair Value | $ 44,994 | $ 83,403 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | (128) | (458) |
Available-for-Sale, 12 Months or More, Fair Value | 5,321 | 9,061 |
Available-for-Sale, 12 Months or More, Unrealized Losses | (44) | (150) |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-Sale, Less than 12 Months, Fair Value | 24,822 | 24,337 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | (107) | (272) |
Available-for-Sale, 12 Months or More, Fair Value | 13,515 | 8,918 |
Available-for-Sale, 12 Months or More, Unrealized Losses | (442) | (344) |
Held-to-Maturity, Less than 12 Months, Fair Value | 13,557 | 14,143 |
Held-to-Maturity, Less than 12 Months, Unrealized Losses | $ (56) | $ (170) |
Held-to-Maturity, 12 Months or More, Fair Value | ||
Held-to-Maturity, 12 Months or More, Unrealized Losses | ||
US Government Agencies Debt Securities [Member] | ||
Available-for-Sale, Less than 12 Months, Fair Value | $ 1,996 | $ 1,982 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | $ (4) | $ (17) |
Available-for-Sale, 12 Months or More, Fair Value | ||
Available-for-Sale, 12 Months or More, Unrealized Losses | ||
Held-to-Maturity, Less than 12 Months, Fair Value | $ 1,579 | $ 11,163 |
Held-to-Maturity, Less than 12 Months, Unrealized Losses | $ (8) | (44) |
Held-to-Maturity, 12 Months or More, Fair Value | 1,560 | |
Held-to-Maturity, 12 Months or More, Unrealized Losses | (27) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-Sale, Less than 12 Months, Fair Value | $ 446 | 707 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | $ (1) | $ (4) |
Available-for-Sale, 12 Months or More, Fair Value | ||
Available-for-Sale, 12 Months or More, Unrealized Losses | ||
Held-to-Maturity, Less than 12 Months, Fair Value | $ 572 | $ 572 |
Held-to-Maturity, Less than 12 Months, Unrealized Losses | $ (1) | $ (4) |
Held-to-Maturity, 12 Months or More, Fair Value | ||
Held-to-Maturity, 12 Months or More, Unrealized Losses | ||
Corporate Debt Securities [Member] | ||
Available-for-Sale, Less than 12 Months, Fair Value | $ 766 | $ 779 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | $ (8) | |
Available-for-Sale, 12 Months or More, Fair Value | ||
Available-for-Sale, 12 Months or More, Unrealized Losses | ||
Available-for-Sale, Less than 12 Months, Fair Value | $ 73,024 | $ 111,208 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | (248) | (751) |
Available-for-Sale, 12 Months or More, Fair Value | 18,836 | 17,979 |
Available-for-Sale, 12 Months or More, Unrealized Losses | (486) | (494) |
Held-to-Maturity, Less than 12 Months, Fair Value | 15,708 | 25,878 |
Held-to-Maturity, Less than 12 Months, Unrealized Losses | $ (65) | (218) |
Held-to-Maturity, 12 Months or More, Fair Value | 1,560 | |
Held-to-Maturity, 12 Months or More, Unrealized Losses | $ (27) |
Note 6 - Loans and Allowance 38
Note 6 - Loans and Allowance for Loan Losses (Details Textual) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Mar. 31, 2015USD ($) | |
Real Estate [Member] | |||
Percentage of Loan Portfolio | 57.80% | 58.00% | |
Related Party Loan [Member] | |||
Loans and Leases Receivable, Related Parties | $ 2,900,000 | ||
Loans and Leases Receivable, Related Parties, Proceeds | $ 36,000 | 200,000 | |
Loans and Leases Receivable, Related Parties, Additions | 0 | 0 | |
Minimum [Member] | |||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 500,000 | ||
Restructured Loans [Member] | |||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 0 | ||
Financing Receivable, Modifications, Recorded Investment | $ 0 | ||
Number of Portfolio Segments | 8 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 3,277,000 | 3,102,000 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 22,000,000 | 100,000 | |
Interest Income Recorded | $ 7,000,000 | 300,000 | |
Troubled Debt Restructuring, Modified Period Term | 180 days | ||
Financing Receivable, Restructuring Recorded Investment With Nonaccrual Status | $ 1,400,000 | $ 1,500,000 | |
Financing Receivable, Restructuring, Recorded Investment Restored to Accrual Status | 38,000,000 | 0 | |
Loans Modified in a Troubled Debt Restructuring, Individually Evaluated for Impairment, Principal Balance, Threshold | 500,000 | ||
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 1,000 | $ 1,000 | |
Minimum Modified Loan Term Period | 180 days |
Note 6 - Loans and Allowance 39
Note 6 - Loans and Allowance for Loan Losses - Loan Portfolio By Reporting Segment and Portfolio Segment (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | FUSB [Member] | ||||
Total loans | $ 18,023 | $ 11,827 | ||
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ALC [Member] | ||||
Total loans | ||||
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||||
Total loans | $ 18,023 | $ 11,827 | ||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | FUSB [Member] | ||||
Total loans | 30,623 | 30,730 | ||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ALC [Member] | ||||
Total loans | 16,265 | 17,233 | ||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||||
Total loans | 46,888 | 47,963 | ||
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | FUSB [Member] | ||||
Total loans | $ 11,580 | $ 11,845 | ||
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ALC [Member] | ||||
Total loans | ||||
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||||
Total loans | $ 11,580 | $ 11,845 | ||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | FUSB [Member] | ||||
Total loans | $ 82,754 | $ 83,883 | ||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ALC [Member] | ||||
Total loans | ||||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||||
Total loans | $ 82,754 | $ 83,883 | ||
Real Estate [Member] | Other Real Estate Loans [Member] | FUSB [Member] | ||||
Total loans | $ 168 | $ 115 | ||
Real Estate [Member] | Other Real Estate Loans [Member] | ALC [Member] | ||||
Total loans | ||||
Real Estate [Member] | Other Real Estate Loans [Member] | ||||
Total loans | $ 168 | $ 115 | ||
Commercial and Industrial Loans [Member] | FUSB [Member] | ||||
Total loans | $ 34,568 | $ 29,377 | ||
Commercial and Industrial Loans [Member] | ALC [Member] | ||||
Total loans | ||||
Commercial and Industrial Loans [Member] | ||||
Total loans | $ 34,568 | $ 29,377 | ||
Consumer Portfolio Segment [Member] | FUSB [Member] | ||||
Total loans | 6,614 | 7,057 | ||
Allowance for loan losses | 22 | 28 | $ 114 | |
Consumer Portfolio Segment [Member] | ALC [Member] | ||||
Total loans | 74,669 | 76,131 | ||
Allowance for loan losses | 2,111 | 2,202 | $ 2,336 | |
Consumer Portfolio Segment [Member] | ||||
Total loans | 81,283 | 83,188 | ||
Other Loans [Member] | FUSB [Member] | ||||
Total loans | 407 | 379 | ||
Allowance for loan losses | $ 5 | $ 14 | ||
Other Loans [Member] | ALC [Member] | ||||
Total loans | ||||
Allowance for loan losses | ||||
Other Loans [Member] | ||||
Total loans | $ 407 | $ 379 | ||
FUSB [Member] | ||||
Total loans | 184,737 | 175,213 | ||
Less: Unearned interest, fees and deferred cost | 174 | 149 | ||
Allowance for loan losses | 1,068 | 1,329 | $ 3,486 | |
Net loans | 183,495 | 173,735 | $ 231,778 | |
ALC [Member] | ||||
Total loans | 90,934 | 93,364 | ||
Less: Unearned interest, fees and deferred cost | 8,147 | 9,215 | ||
Allowance for loan losses | 2,307 | 2,452 | $ 2,682 | |
Net loans | 80,480 | 81,697 | 70,786 | |
Total loans | 275,671 | 268,577 | ||
Less: Unearned interest, fees and deferred cost | 8,321 | 9,364 | ||
Allowance for loan losses | 3,375 | 3,781 | ||
Net loans | $ 263,975 | $ 255,432 | $ 239,218 |
Note 6 - Loans and Allowance 40
Note 6 - Loans and Allowance for Loan Losses - Changes in Allowance for Loan Losses and Recorded Investment in Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Commercial Portfolio Segment [Member] | FUSB [Member] | |||
Beginning balance | $ 133 | $ 141 | $ 141 |
Charge-offs | |||
Recoveries | $ 12 | $ 61 | |
Provision (reduction in reserve) for loan losses | 107 | (69) | |
Ending balance | 252 | 133 | |
Ending balance, individually evaluated for impairment | 72 | 80 | |
Ending balance, collectively evaluated for impairment | 180 | 53 | |
Total loans | 34,568 | 29,377 | |
Ending balance, individually evaluated for impairment | 436 | 444 | |
Ending balance, collectively evaluated for impairment | 34,132 | 28,933 | |
Ending balance collectively evaluated for impairment | $ 34,132 | $ 28,933 | |
Commercial Portfolio Segment [Member] | ALC [Member] | |||
Beginning balance | |||
Charge-offs | |||
Recoveries | |||
Provision (reduction in reserve) for loan losses | |||
Ending balance | |||
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | |||
Total loans | |||
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | |||
Ending balance collectively evaluated for impairment | |||
Commercial Portfolio Segment [Member] | FUSB and ALC [Member] | |||
Beginning balance | $ 133 | $ 141 | $ 141 |
Charge-offs | |||
Recoveries | $ 12 | $ 61 | |
Provision (reduction in reserve) for loan losses | 107 | (69) | |
Ending balance | 252 | 133 | |
Ending balance, individually evaluated for impairment | 72 | 80 | |
Ending balance, collectively evaluated for impairment | 180 | 53 | |
Total loans | 34,568 | 29,377 | |
Ending balance, individually evaluated for impairment | 436 | 444 | |
Ending balance, collectively evaluated for impairment | 34,132 | 28,933 | |
Ending balance collectively evaluated for impairment | 34,132 | 28,933 | |
Commercial Real Estate Portfolio Segment [Member] | FUSB [Member] | |||
Beginning balance | $ 1,118 | $ 2,810 | 2,810 |
Charge-offs | (767) | ||
Recoveries | 12 | ||
Provision (reduction in reserve) for loan losses | $ (487) | (937) | |
Ending balance | 631 | 1,118 | |
Ending balance, individually evaluated for impairment | 220 | 230 | |
Ending balance, collectively evaluated for impairment | 411 | 888 | |
Total loans | 112,525 | 107,670 | |
Ending balance, individually evaluated for impairment | 2,224 | 2,270 | |
Ending balance, collectively evaluated for impairment | 110,301 | 105,400 | |
Ending balance collectively evaluated for impairment | $ 110,301 | $ 105,400 | |
Commercial Real Estate Portfolio Segment [Member] | ALC [Member] | |||
Beginning balance | |||
Charge-offs | |||
Recoveries | |||
Provision (reduction in reserve) for loan losses | |||
Ending balance | |||
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | |||
Total loans | |||
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | |||
Ending balance collectively evaluated for impairment | |||
Commercial Real Estate Portfolio Segment [Member] | FUSB and ALC [Member] | |||
Beginning balance | $ 1,118 | $ 2,810 | $ 2,810 |
Charge-offs | (767) | ||
Recoveries | 12 | ||
Provision (reduction in reserve) for loan losses | $ (487) | (937) | |
Ending balance | 631 | 1,118 | |
Ending balance, individually evaluated for impairment | 220 | 230 | |
Ending balance, collectively evaluated for impairment | 411 | 888 | |
Total loans | 112,525 | 107,670 | |
Ending balance, individually evaluated for impairment | 2,224 | 2,270 | |
Ending balance, collectively evaluated for impairment | 110,301 | 105,400 | |
Ending balance collectively evaluated for impairment | 110,301 | 105,400 | |
Consumer Portfolio Segment [Member] | FUSB [Member] | |||
Beginning balance | 28 | 114 | 114 |
Charge-offs | (21) | (17) | |
Recoveries | 23 | 70 | |
Provision (reduction in reserve) for loan losses | (8) | (139) | |
Ending balance | $ 22 | $ 28 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 22 | $ 28 | |
Total loans | $ 6,614 | $ 7,057 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 6,614 | $ 7,057 | |
Ending balance collectively evaluated for impairment | 6,614 | 7,057 | |
Consumer Portfolio Segment [Member] | ALC [Member] | |||
Beginning balance | 2,202 | 2,336 | 2,336 |
Charge-offs | (765) | (2,552) | |
Recoveries | 174 | 712 | |
Provision (reduction in reserve) for loan losses | 500 | 1,706 | |
Ending balance | $ 2,111 | $ 2,202 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 2,111 | $ 2,202 | |
Total loans | $ 74,669 | $ 76,131 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 74,669 | $ 76,131 | |
Ending balance collectively evaluated for impairment | 74,669 | 76,131 | |
Consumer Portfolio Segment [Member] | FUSB and ALC [Member] | |||
Beginning balance | 2,230 | 2,450 | 2,450 |
Charge-offs | (786) | (2,569) | |
Recoveries | 197 | 782 | |
Provision (reduction in reserve) for loan losses | 492 | 1,567 | |
Ending balance | $ 2,133 | $ 2,230 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 2,133 | $ 2,230 | |
Total loans | $ 81,283 | $ 83,188 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 81,283 | $ 83,188 | |
Ending balance collectively evaluated for impairment | 81,283 | 83,188 | |
Consumer Portfolio Segment [Member] | |||
Total loans | 81,283 | 83,188 | |
Residential Real Estate [Member | FUSB [Member] | |||
Beginning balance | $ 36 | 421 | 421 |
Charge-offs | (68) | ||
Recoveries | $ 5 | 111 | |
Provision (reduction in reserve) for loan losses | 117 | (428) | |
Ending balance | $ 158 | $ 36 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 158 | $ 36 | |
Total loans | $ 30,623 | $ 30,730 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 30,623 | $ 30,730 | |
Ending balance collectively evaluated for impairment | 30,623 | 30,730 | |
Residential Real Estate [Member | ALC [Member] | |||
Beginning balance | 250 | 346 | 346 |
Charge-offs | (5) | (187) | |
Recoveries | 4 | 22 | |
Provision (reduction in reserve) for loan losses | (53) | 69 | |
Ending balance | $ 196 | $ 250 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 196 | $ 250 | |
Total loans | $ 16,265 | $ 17,233 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 16,265 | $ 17,233 | |
Ending balance collectively evaluated for impairment | 16,265 | 17,233 | |
Residential Real Estate [Member | FUSB and ALC [Member] | |||
Beginning balance | 286 | $ 767 | 767 |
Charge-offs | (5) | (255) | |
Recoveries | 9 | 133 | |
Provision (reduction in reserve) for loan losses | 64 | (359) | |
Ending balance | $ 354 | $ 286 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 354 | $ 286 | |
Total loans | $ 46,888 | $ 47,963 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 46,888 | $ 47,963 | |
Ending balance collectively evaluated for impairment | 46,888 | $ 47,963 | |
Other Loans [Member] | FUSB [Member] | |||
Beginning balance | $ 14 | ||
Charge-offs | |||
Recoveries | |||
Provision (reduction in reserve) for loan losses | $ (9) | $ 14 | |
Ending balance | $ 5 | $ 14 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 5 | $ 14 | |
Total loans | $ 407 | $ 379 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 407 | $ 379 | |
Ending balance collectively evaluated for impairment | $ 407 | $ 379 | |
Other Loans [Member] | ALC [Member] | |||
Beginning balance | |||
Charge-offs | |||
Recoveries | |||
Provision (reduction in reserve) for loan losses | |||
Ending balance | |||
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | |||
Total loans | |||
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | |||
Ending balance collectively evaluated for impairment | |||
Other Loans [Member] | FUSB and ALC [Member] | |||
Beginning balance | $ 14 | ||
Charge-offs | |||
Recoveries | |||
Provision (reduction in reserve) for loan losses | $ (9) | $ 14 | |
Ending balance | $ 5 | $ 14 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 5 | $ 14 | |
Total loans | $ 407 | $ 379 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 407 | $ 379 | |
Ending balance collectively evaluated for impairment | 407 | 379 | |
Other Loans [Member] | |||
Total loans | 407 | 379 | |
FUSB [Member] | |||
Beginning balance | 1,329 | $ 3,486 | 3,486 |
Charge-offs | (21) | (852) | |
Recoveries | 40 | 254 | |
Provision (reduction in reserve) for loan losses | (280) | (525) | (1,559) |
Ending balance | 1,068 | 1,329 | |
Ending balance, individually evaluated for impairment | 292 | 310 | |
Ending balance, collectively evaluated for impairment | 776 | 1,019 | |
Total loans | 184,737 | 175,213 | |
Ending balance, individually evaluated for impairment | 2,660 | 2,714 | |
Ending balance, collectively evaluated for impairment | 182,077 | 172,499 | |
Ending balance collectively evaluated for impairment | 182,077 | 172,499 | |
ALC [Member] | |||
Beginning balance | 2,452 | 2,682 | 2,682 |
Charge-offs | (770) | (2,739) | |
Recoveries | 178 | 734 | |
Provision (reduction in reserve) for loan losses | 447 | 359 | 1,775 |
Ending balance | $ 2,307 | $ 2,452 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 2,307 | $ 2,452 | |
Total loans | $ 90,934 | $ 93,364 | |
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 90,934 | $ 93,364 | |
Ending balance collectively evaluated for impairment | 90,934 | 93,364 | |
FUSB and ALC [Member] | |||
Beginning balance | 3,781 | 6,168 | 6,168 |
Charge-offs | (791) | (3,591) | |
Recoveries | 218 | 988 | |
Provision (reduction in reserve) for loan losses | 167 | 216 | |
Ending balance | 3,375 | 3,781 | |
Ending balance, individually evaluated for impairment | 292 | 310 | |
Ending balance, collectively evaluated for impairment | 3,083 | 3,471 | |
Total loans | 275,671 | 268,577 | |
Ending balance, individually evaluated for impairment | 2,660 | 2,714 | |
Ending balance, collectively evaluated for impairment | 273,011 | 265,863 | |
Ending balance collectively evaluated for impairment | 273,011 | 265,863 | |
Beginning balance | 3,781 | ||
Provision (reduction in reserve) for loan losses | 167 | $ (166) | |
Ending balance | 3,375 | 3,781 | |
Total loans | $ 275,671 | $ 268,577 |
Note 6 - Loans and Allowance 41
Note 6 - Loans and Allowance for Loan Losses - Carrying Amount of Loans By Credit Quality Indicator (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | FUSB [Member] | Pass [Member] | ||
Total loans | $ 16,100 | $ 9,862 |
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | FUSB [Member] | Special Mention [Member] | ||
Total loans | ||
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | FUSB [Member] | Substandard [Member] | ||
Total loans | $ 1,923 | $ 1,965 |
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | FUSB [Member] | Doubtful [Member] | ||
Total loans | ||
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | FUSB [Member] | ||
Total loans | $ 18,023 | $ 11,827 |
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | ALC [Member] | ||
Total loans | ||
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | ||
Total loans | $ 18,023 | $ 11,827 |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Pass [Member] | ||
Total loans | 29,216 | 29,252 |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Special Mention [Member] | ||
Total loans | 224 | 228 |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Substandard [Member] | ||
Total loans | $ 1,183 | $ 1,250 |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Doubtful [Member] | ||
Total loans | ||
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | ||
Total loans | $ 30,623 | $ 30,730 |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | ALC [Member] | Performing Financial Instruments [Member] | ||
Total loans | 15,856 | 16,964 |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | ALC [Member] | Nonperforming Financial Instruments [Member] | ||
Total loans | 409 | 269 |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | ALC [Member] | ||
Total loans | 16,265 | 17,233 |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | ||
Total loans | 46,888 | 47,963 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ALC [Member] | ||
Total loans | 17,233 | |
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Pass [Member] | ||
Total loans | $ 11,580 | $ 11,845 |
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Special Mention [Member] | ||
Total loans | ||
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Substandard [Member] | ||
Total loans | ||
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Doubtful [Member] | ||
Total loans | ||
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | ||
Total loans | $ 11,580 | $ 11,845 |
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | ALC [Member] | ||
Total loans | ||
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | ||
Total loans | $ 11,580 | $ 11,845 |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Pass [Member] | ||
Total loans | 77,869 | 78,647 |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Special Mention [Member] | ||
Total loans | 3,989 | 4,315 |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Substandard [Member] | ||
Total loans | $ 896 | $ 921 |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Doubtful [Member] | ||
Total loans | ||
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | FUSB [Member] | ||
Total loans | $ 82,754 | $ 83,883 |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | ALC [Member] | ||
Total loans | ||
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | ||
Total loans | $ 82,754 | $ 83,883 |
Other Real Estate Loans [Member] | Real Estate [Member] | FUSB [Member] | Pass [Member] | ||
Total loans | $ 168 | $ 115 |
Other Real Estate Loans [Member] | Real Estate [Member] | FUSB [Member] | Special Mention [Member] | ||
Total loans | ||
Other Real Estate Loans [Member] | Real Estate [Member] | FUSB [Member] | Substandard [Member] | ||
Total loans | ||
Other Real Estate Loans [Member] | Real Estate [Member] | FUSB [Member] | Doubtful [Member] | ||
Total loans | ||
Other Real Estate Loans [Member] | Real Estate [Member] | FUSB [Member] | ||
Total loans | $ 168 | $ 115 |
Other Real Estate Loans [Member] | Real Estate [Member] | ALC [Member] | ||
Total loans | ||
Other Real Estate Loans [Member] | Real Estate [Member] | ||
Total loans | $ 168 | $ 115 |
Consumer Portfolio Segment [Member] | FUSB [Member] | Pass [Member] | ||
Total loans | $ 6,499 | $ 6,905 |
Consumer Portfolio Segment [Member] | FUSB [Member] | Special Mention [Member] | ||
Total loans | ||
Consumer Portfolio Segment [Member] | FUSB [Member] | Substandard [Member] | ||
Total loans | $ 115 | $ 152 |
Consumer Portfolio Segment [Member] | FUSB [Member] | Doubtful [Member] | ||
Total loans | ||
Consumer Portfolio Segment [Member] | FUSB [Member] | ||
Total loans | $ 6,614 | $ 7,057 |
Consumer Portfolio Segment [Member] | ALC [Member] | Performing Financial Instruments [Member] | ||
Total loans | 73,265 | 74,743 |
Consumer Portfolio Segment [Member] | ALC [Member] | Nonperforming Financial Instruments [Member] | ||
Total loans | 1,404 | 1,388 |
Consumer Portfolio Segment [Member] | ALC [Member] | ||
Total loans | 74,669 | 76,131 |
Consumer Portfolio Segment [Member] | ||
Total loans | 81,283 | 83,188 |
Commercial and Industrial Loans [Member] | FUSB [Member] | Pass [Member] | ||
Total loans | 33,381 | 28,170 |
Commercial and Industrial Loans [Member] | FUSB [Member] | Special Mention [Member] | ||
Total loans | 480 | 482 |
Commercial and Industrial Loans [Member] | FUSB [Member] | Substandard [Member] | ||
Total loans | $ 707 | $ 752 |
Commercial and Industrial Loans [Member] | FUSB [Member] | Doubtful [Member] | ||
Total loans | ||
Commercial and Industrial Loans [Member] | FUSB [Member] | ||
Total loans | $ 34,568 | $ 29,377 |
Commercial and Industrial Loans [Member] | ALC [Member] | ||
Total loans | ||
Commercial and Industrial Loans [Member] | ||
Total loans | $ 34,568 | $ 29,377 |
Other Loans [Member] | FUSB [Member] | Pass [Member] | ||
Total loans | $ 407 | $ 379 |
Other Loans [Member] | FUSB [Member] | Special Mention [Member] | ||
Total loans | ||
Other Loans [Member] | FUSB [Member] | Substandard [Member] | ||
Total loans | ||
Other Loans [Member] | FUSB [Member] | Doubtful [Member] | ||
Total loans | ||
Other Loans [Member] | FUSB [Member] | ||
Total loans | $ 407 | $ 379 |
Other Loans [Member] | ALC [Member] | ||
Total loans | ||
Other Loans [Member] | ||
Total loans | $ 407 | $ 379 |
FUSB [Member] | Pass [Member] | ||
Total loans | 175,220 | 165,175 |
FUSB [Member] | Special Mention [Member] | ||
Total loans | 4,693 | 5,025 |
FUSB [Member] | Substandard [Member] | ||
Total loans | $ 4,824 | $ 5,013 |
FUSB [Member] | Doubtful [Member] | ||
Total loans | ||
FUSB [Member] | ||
Total loans | $ 184,737 | $ 175,213 |
ALC [Member] | Performing Financial Instruments [Member] | ||
Total loans | 89,121 | 91,707 |
ALC [Member] | Nonperforming Financial Instruments [Member] | ||
Total loans | 1,813 | 1,657 |
ALC [Member] | ||
Total loans | 90,934 | 93,364 |
Total loans | $ 275,671 | $ 268,577 |
Note 6 - Loans and Allowance 42
Note 6 - Loans and Allowance for Loan Losses - Schedule of Aging Analysis of Past Due Loans (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | $ 40,000 | $ 0 |
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | $ 86,000 | 86,000 |
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Total past due | 126,000 | 86,000 |
Current | 17,897,000 | 11,741,000 |
Total loans | $ 18,023,000 | 11,827,000 |
Accruing loans past due 90 days or more amounted | 0 | |
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | $ 69,000 | 118,000 |
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 25,000 | 206,000 |
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 463,000 | 360,000 |
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Total past due | 557,000 | 684,000 |
Current | 30,066,000 | 30,046,000 |
Total loans | $ 30,623,000 | 30,730,000 |
Accruing loans past due 90 days or more amounted | 0 | |
FUSB [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Total past due | 0 | |
Current | $ 11,580,000 | 11,845,000 |
Total loans | $ 11,580,000 | 11,845,000 |
Accruing loans past due 90 days or more amounted | 0 | |
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | 530,000 | |
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | $ 148,000 | 148,000 |
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Total past due | 148,000 | 678,000 |
Current | 82,606,000 | 83,205,000 |
Total loans | $ 82,754,000 | 83,883,000 |
Accruing loans past due 90 days or more amounted | 0 | |
FUSB [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | ||
Total past due | 0 | |
Current | $ 168,000 | 115,000 |
Total loans | $ 168,000 | 115,000 |
Accruing loans past due 90 days or more amounted | 0 | |
FUSB [Member] | Commercial and Industrial Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | $ 73,000 | 22,000 |
FUSB [Member] | Commercial and Industrial Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | $ 38,000 | 52,000 |
FUSB [Member] | Commercial and Industrial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Commercial and Industrial Loans [Member] | ||
Total past due | $ 111,000 | 74,000 |
Current | 34,457,000 | 29,303,000 |
Total loans | $ 34,568,000 | 29,377,000 |
Accruing loans past due 90 days or more amounted | 0 | |
FUSB [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | $ 38,000 | 49,000 |
FUSB [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 4,000 | |
FUSB [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | $ 22,000 | 83,000 |
FUSB [Member] | Consumer Portfolio Segment [Member] | ||
Total past due | 60,000 | 136,000 |
Current | 6,554,000 | 6,921,000 |
Total loans | $ 6,614,000 | 7,057,000 |
Accruing loans past due 90 days or more amounted | 0 | |
FUSB [Member] | Other Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Other Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 0 | |
FUSB [Member] | Other Loans [Member] | ||
Total past due | 0 | |
Current | $ 407,000 | 379,000 |
Total loans | $ 407,000 | 379,000 |
Accruing loans past due 90 days or more amounted | 0 | |
FUSB [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | $ 220,000 | 719,000 |
FUSB [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 63,000 | 262,000 |
FUSB [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 719,000 | 677,000 |
FUSB [Member] | ||
Total past due | 1,002,000 | 1,658,000 |
Current | 183,735,000 | 173,555,000 |
Total loans | $ 184,737,000 | 175,213,000 |
Accruing loans past due 90 days or more amounted | 0 | |
ALC [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Total past due | 0 | |
Current | $ 0 | |
Total loans | ||
Accruing loans past due 90 days or more amounted | $ 0 | |
ALC [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | $ 25,000 | 91,000 |
ALC [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 15,000 | 206,000 |
ALC [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 392,000 | 252,000 |
ALC [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Total past due | 432,000 | 549,000 |
Current | 15,833,000 | 16,684,000 |
Total loans | $ 16,265,000 | 17,233,000 |
Accruing loans past due 90 days or more amounted | 0 | |
ALC [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Total past due | 0 | |
Current | $ 0 | |
Total loans | ||
Accruing loans past due 90 days or more amounted | $ 0 | |
ALC [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Total past due | 0 | |
Current | $ 0 | |
Total loans | ||
Accruing loans past due 90 days or more amounted | $ 0 | |
ALC [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | ||
Total past due | 0 | |
Current | $ 0 | |
Total loans | ||
Accruing loans past due 90 days or more amounted | $ 0 | |
ALC [Member] | Commercial and Industrial Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Commercial and Industrial Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Commercial and Industrial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Commercial and Industrial Loans [Member] | ||
Total past due | 0 | |
Current | $ 0 | |
Total loans | ||
Accruing loans past due 90 days or more amounted | $ 0 | |
ALC [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | $ 659,000 | 965,000 |
ALC [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 517,000 | 567,000 |
ALC [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 1,394,000 | 1,377,000 |
ALC [Member] | Consumer Portfolio Segment [Member] | ||
Total past due | 2,570,000 | 2,909,000 |
Current | 72,099,000 | 73,222,000 |
Total loans | $ 74,669,000 | 76,131,000 |
Accruing loans past due 90 days or more amounted | 0 | |
ALC [Member] | Other Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Other Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 0 | |
ALC [Member] | Other Loans [Member] | ||
Total past due | 0 | |
Current | $ 0 | |
Total loans | ||
Accruing loans past due 90 days or more amounted | $ 0 | |
ALC [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Total past due | $ 684,000 | 1,056,000 |
ALC [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Total past due | 532,000 | 773,000 |
ALC [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Total past due | 1,786,000 | 1,629,000 |
ALC [Member] | ||
Total past due | 3,002,000 | 3,458,000 |
Current | 87,932,000 | 89,906,000 |
Total loans | $ 90,934,000 | 93,364,000 |
Accruing loans past due 90 days or more amounted | 0 | |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Total loans | $ 18,023,000 | 11,827,000 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Total loans | 46,888,000 | 47,963,000 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Total loans | 11,580,000 | 11,845,000 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Total loans | 82,754,000 | 83,883,000 |
Real Estate [Member] | Other Real Estate Loans [Member] | ||
Total loans | 168,000 | 115,000 |
Commercial and Industrial Loans [Member] | ||
Total loans | 34,568,000 | 29,377,000 |
Consumer Portfolio Segment [Member] | ||
Total loans | 81,283,000 | 83,188,000 |
Other Loans [Member] | ||
Total loans | 407,000 | 379,000 |
Total loans | $ 275,671,000 | $ 268,577,000 |
Note 6 - Loans and Allowance 43
Note 6 - Loans and Allowance for Loan Losses - Analysis of Non-accruing Loans (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Total loans | $ 334,000 | $ 339,000 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Total loans | $ 1,178,000 | 968,000 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Total loans | 0 | |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Total loans | $ 205,000 | 213,000 |
Commercial and Industrial Loans [Member] | ||
Total loans | 46,000 | 47,000 |
Consumer Portfolio Segment [Member] | ||
Total loans | 1,514,000 | 1,535,000 |
Total loans | $ 3,277,000 | $ 3,102,000 |
Note 6 - Loans and Allowance 44
Note 6 - Loans and Allowance for Loan Losses - Carrying Amount of Impaired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Impaired loans with no related allowance recorded, Carrying Amount | ||
Impaired loans with no related allowance recorded, Unpaid Principal Balance | ||
Impaired loans with an allowance recorded, Carrying Amount | $ 1,411 | $ 1,445 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 1,411 | 1,445 |
Impaired loans with an allowance recorded, Related Allowances | 95 | 95 |
Total impaired loans, Carrying Amount | 1,411 | 1,445 |
Total impaired loans, Unpaid Principal Balance | 1,411 | 1,445 |
Total impaired loans, Related Allowance | 95 | 95 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Impaired loans with no related allowance recorded, Carrying Amount | 54 | 54 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 54 | 54 |
Impaired loans with an allowance recorded, Carrying Amount | 197 | 198 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 197 | 198 |
Impaired loans with an allowance recorded, Related Allowances | 5 | 5 |
Total impaired loans, Carrying Amount | 251 | 252 |
Total impaired loans, Unpaid Principal Balance | 251 | 252 |
Total impaired loans, Related Allowance | $ 5 | $ 5 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Impaired loans with no related allowance recorded, Carrying Amount | ||
Impaired loans with no related allowance recorded, Unpaid Principal Balance | ||
Impaired loans with an allowance recorded, Carrying Amount | ||
Impaired loans with an allowance recorded, Unpaid Principal Balance | ||
Impaired loans with an allowance recorded, Related Allowances | ||
Total impaired loans, Carrying Amount | ||
Total impaired loans, Unpaid Principal Balance | ||
Total impaired loans, Related Allowance | ||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Impaired loans with no related allowance recorded, Carrying Amount | ||
Impaired loans with no related allowance recorded, Unpaid Principal Balance | ||
Impaired loans with an allowance recorded, Carrying Amount | $ 562 | $ 573 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 562 | 573 |
Impaired loans with an allowance recorded, Related Allowances | 120 | 130 |
Total impaired loans, Carrying Amount | 562 | 573 |
Total impaired loans, Unpaid Principal Balance | 562 | 573 |
Total impaired loans, Related Allowance | $ 120 | $ 130 |
Commercial and Industrial Loans [Member] | ||
Impaired loans with no related allowance recorded, Carrying Amount | ||
Impaired loans with no related allowance recorded, Unpaid Principal Balance | ||
Impaired loans with an allowance recorded, Carrying Amount | $ 436 | $ 444 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 436 | 444 |
Impaired loans with an allowance recorded, Related Allowances | 72 | 80 |
Total impaired loans, Carrying Amount | 436 | 444 |
Total impaired loans, Unpaid Principal Balance | 436 | 444 |
Total impaired loans, Related Allowance | 72 | 80 |
Impaired loans with no related allowance recorded, Carrying Amount | 54 | 54 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 54 | 54 |
Impaired loans with an allowance recorded, Carrying Amount | 2,606 | 2,660 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 2,606 | 2,660 |
Impaired loans with an allowance recorded, Related Allowances | 292 | 310 |
Total impaired loans, Carrying Amount | 2,660 | 2,714 |
Total impaired loans, Unpaid Principal Balance | 2,660 | 2,714 |
Total impaired loans, Related Allowance | $ 292 | $ 310 |
Note 6 - Loans and Allowance 45
Note 6 - Loans and Allowance for Loan Losses - Average Net Investment Impaired Loans and Interest Income Recognized and Received on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Average Recorded Investment | $ 1,410 | $ 1,493 |
Interest Income Recognized | 11 | 44 |
Interest Income Received | 11 | 46 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Average Recorded Investment | 252 | 139 |
Interest Income Recognized | 3 | 14 |
Interest Income Received | $ 3 | 14 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Average Recorded Investment | $ 1,892 | |
Interest Income Recognized | ||
Interest Income Received | ||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Average Recorded Investment | $ 566 | $ 3,329 |
Interest Income Recognized | 8 | 35 |
Interest Income Received | 8 | 36 |
Real Estate [Member] | ||
Average Recorded Investment | 264 | |
Interest Income Recognized | 26 | |
Interest Income Received | 26 | |
Commercial and Industrial Loans [Member] | ||
Average Recorded Investment | 439 | |
Interest Income Recognized | 6 | |
Interest Income Received | 6 | |
Average Recorded Investment | 2,667 | 7,117 |
Interest Income Recognized | 28 | 119 |
Interest Income Received | $ 28 | $ 122 |
Note 6 - Loans and Allowance 46
Note 6 - Loans and Allowance for Loan Losses - Number of Loans Modified Troubled Debt Restructuring by Loan Portfolio (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Number of Loans | Security Loan | 3 | 3 |
Pre-Modification Oustanding Principal Balance | $ 2,220 | $ 2,220 |
Post-Modification Principal Balance | $ 1,659 | $ 1,698 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Number of Loans | Security Loan | 4 | 4 |
Pre-Modification Oustanding Principal Balance | $ 200 | $ 200 |
Post-Modification Principal Balance | $ 102 | $ 103 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Number of Loans | Security Loan | 2 | 2 |
Pre-Modification Oustanding Principal Balance | $ 113 | $ 113 |
Post-Modification Principal Balance | $ 49 | $ 52 |
Commercial and Industrial Loans [Member] | ||
Number of Loans | Security Loan | 2 | 2 |
Pre-Modification Oustanding Principal Balance | $ 116 | $ 116 |
Post-Modification Principal Balance | $ 94 | $ 94 |
Number of Loans | Security Loan | 11 | 11 |
Pre-Modification Oustanding Principal Balance | $ 2,649 | $ 2,649 |
Post-Modification Principal Balance | $ 1,904 | $ 1,947 |
Note 7 - Other Real Estate Ow47
Note 7 - Other Real Estate Owned (Details Textual) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
Foreclosed Real Estate Owned, Fair Value Less Disposal Costs | $ 1.2 | $ 1.1 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 0.3 | $ 0.2 |
Note 7 - Other Real Estate Ow48
Note 7 - Other Real Estate Owned - Foreclosed Property Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
FUSB [Member] | ||
Beginning balance | $ 5,327 | $ 6,997 |
Transfers from loans | 995 | |
Sales proceeds | $ (609) | $ (40) |
Gross gains | ||
Gross losses | $ (16) | $ (3) |
Net gains (losses) | $ (16) | $ (3) |
Impairment | ||
Ending balance | $ 4,702 | $ 7,949 |
ALC [Member] | ||
Beginning balance | 711 | 738 |
Transfers from loans | 18 | 63 |
Sales proceeds | (77) | $ (66) |
Gross gains | $ 25 | |
Gross losses | $ (46) | |
Net gains (losses) | $ 25 | (46) |
Impairment | (23) | (30) |
Ending balance | 654 | 659 |
Beginning balance | 6,038 | 7,735 |
Transfers from loans | 18 | 1,058 |
Sales proceeds | (686) | $ (106) |
Gross gains | 25 | |
Gross losses | (16) | $ (49) |
Net gains (losses) | 9 | (49) |
Impairment | (23) | (30) |
Ending balance | $ 5,356 | $ 8,608 |
Note 8 - Investment in Limite49
Note 8 - Investment in Limited Partnership (Details Textual) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Partnership Interest [Member] | ||
Noncontrolling Interest, Ownership Percentage by Parent | 99.90% | |
Maximum [Member] | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets | $ 0.1 | $ 0.1 |
Note 9 - Short-term Borrowings
Note 9 - Short-term Borrowings (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Minimum [Member] | ||
Maturity Period of Federal Funds | 1 day | |
Maximum [Member] | ||
Maturity Period of Federal Funds | 4 days | |
Federal Funds Purchased | $ 0 | $ 0 |
Short-term Debt | 446,000 | 7,354,000 |
Available Fund Lines From Correspondent Banks | $ 0 | 0 |
Maturity Period of Federal Funds | 30 days | |
Securities Sold under Agreements to Repurchase | 400,000 | |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months | $ 30,000,000 | $ 7,000,000 |
Note 10 - Long-term Debt (Detai
Note 10 - Long-term Debt (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 167,700 | $ 152,500 |
Long-term Federal Home Loan Bank Advances | 5,000 | 5,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 8,100 | $ 14,000 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | |
Income Tax Expense (Benefit) | $ 0 | $ 351,000 | |
Effective Income Tax Rate Reconciliation, Percent | 0.00% | 29.60% | |
Deferred Tax Assets, Net | $ 0 | $ 7,700,000 |
Note 12 - Deferred Compensati53
Note 12 - Deferred Compensation Plans (Details Textual) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Other Liabilities [Member] | ||
Deferred Compensation Liability, Current and Noncurrent | $ 3.6 | $ 3.6 |
The Deferral Plan [Member] | ||
Deferred Compensation Arrangement with Individual, Common Stock Reserved for Future Issuance | 108,137 | 103,571 |
Deferred Compensation Cash-based Arrangements, Liability, Current and Noncurrent | $ 0.1 | $ 0.1 |
Note 13 - Stock Option Grants54
Note 13 - Stock Option Grants (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Employee Stock Option [Member] | Omnibus Incentive Plan [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |
Employee Stock Option [Member] | Omnibus Incentive Plan [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Employee Stock Option [Member] | Omnibus Incentive Plan [Member] | ||
Allocated Share-based Compensation Expense | $ 0 | $ 100,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 10 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 100,000 | $ 100,000 |
Note 13 - Stock Option Grants -
Note 13 - Stock Option Grants - Fair Value Assumptions (Details) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Risk-free interest rate | 1.58% | 1.52% |
Expected term | 7 years 182 days | 7 years 182 days |
Expected stock price volatility | 25.25% | 54.04% |
Dividend yield | 1.50% | 1.50% |
Note 13 - Stock Option Grants56
Note 13 - Stock Option Grants - Stock Option Activity (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Stock Options Outstanding, Number of Shares, Beginning Balance (in shares) | 175,550 | 83,400 |
Stock Options Outstanding, Average Exercise Price, Beginning Balance (in dollars per share) | $ 8.17 | $ 8.09 |
Stock Options Granted, Number of Shares (in shares) | 97,000 | 96,150 |
Stock Options Granted, Average Exercise Price (in dollars per share) | $ 8.30 | $ 8.23 |
Stock Options Exercised, Number of Shares (in shares) | 0 | 0 |
Stock Options Exercised, Average Exercise Price (in dollars per share) | $ 0 | $ 0 |
Stock Options Expired, Number of Shares (in shares) | 0 | 0 |
Stock Options Expired, Average Exercise Price (in dollars per share) | $ 0 | $ 0 |
Stock Options Forfeited, Number of Shares (in shares) | 0 | 2,500 |
Stock Options Forfeited, Average Exercise Price (in dollars per share) | $ 0 | $ 8.09 |
Stock Options Outstanding, Number of Shares, Ending (in shares) | 272,550 | 177,050 |
Stock Options Outstanding, Average Exercise Price, Ending Balance (in dollars per share) | $ 8.21 | $ 8.16 |
Options exercisable, end of period (in shares) | 175,550 | 81,900 |
Options exercisable, end of period (in dollars per share) | $ 8.17 | $ 8.09 |
Note 14 - Segment Reporting (De
Note 14 - Segment Reporting (Details Textual) | 3 Months Ended |
Mar. 31, 2016 | |
Number of Reportable Segments | 2 |
Note 14 - Segment Reporting - R
Note 14 - Segment Reporting - Results for Reportable Segments (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
FUSB [Member] | |||
Net interest income | $ 3,598,000 | $ 3,844,000 | |
Provision (reduction in reserve) for loan losses | (280,000) | (525,000) | $ (1,559,000) |
Total non-interest income | 721,000 | 1,149,000 | |
Total non-interest expense | 4,334,000 | 4,281,000 | |
Income before income taxes | 265,000 | 1,237,000 | |
Provision for income taxes | 48,000 | 370,000 | |
Net income | 217,000 | 867,000 | |
Total assets | 577,945,000 | 567,318,000 | |
Total investment securities | 231,386,000 | 249,784,000 | |
Total loans, net | 183,495,000 | 231,778,000 | 173,735,000 |
Investment in subsidiaries | 5,000 | 5,000 | |
Fixed asset additions | 3,224,000 | 1,241,000 | |
Depreciation and amortization expense | 180,000 | 153,000 | |
Total interest income from external customers | 3,124,000 | 3,578,000 | |
Total interest income from affiliates | 1,012,000 | 882,000 | |
ALC [Member] | |||
Net interest income | 3,060,000 | 2,861,000 | |
Provision (reduction in reserve) for loan losses | 447,000 | 359,000 | 1,775,000 |
Total non-interest income | 252,000 | 220,000 | |
Total non-interest expense | 2,427,000 | 2,493,000 | |
Income before income taxes | 438,000 | 229,000 | |
Provision for income taxes | 158,000 | 86,000 | |
Net income | 280,000 | 143,000 | |
Total assets | $ 84,353,000 | $ 75,124,000 | |
Total investment securities | |||
Total loans, net | $ 80,480,000 | $ 70,786,000 | 81,697,000 |
Investment in subsidiaries | |||
Fixed asset additions | $ 5,000 | $ 162,000 | |
Depreciation and amortization expense | 52,000 | 60,000 | |
Total interest income from external customers | $ 4,072,000 | $ 3,743,000 | |
Total interest income from affiliates | |||
Other Segments [Member] | |||
Net interest income | $ 3,000 | $ 2,000 | |
Provision (reduction in reserve) for loan losses | |||
Total non-interest income | $ 675,000 | $ 1,113,000 | |
Total non-interest expense | 440,000 | 356,000 | |
Income before income taxes | 238,000 | 759,000 | |
Provision for income taxes | (106,000) | (105,000) | |
Net income | 344,000 | 864,000 | |
Total assets | 83,129,000 | 82,175,000 | |
Total investment securities | $ 80,000 | $ 80,000 | |
Total loans, net | |||
Investment in subsidiaries | $ 77,716,000 | $ 76,865,000 | |
Fixed asset additions | |||
Depreciation and amortization expense | |||
Total interest income from external customers | |||
Total interest income from affiliates | $ 3,000 | $ 2,000 | |
Intersegment Eliminations [Member] | |||
Net interest income | |||
Provision (reduction in reserve) for loan losses | |||
Total non-interest income | $ (659,000) | $ (1,191,000) | |
Total non-interest expense | (135,000) | (153,000) | |
Income before income taxes | $ (524,000) | $ (1,038,000) | |
Provision for income taxes | |||
Net income | $ (524,000) | $ (1,038,000) | |
Total assets | $ (169,845,000) | $ (159,735,000) | |
Total investment securities | |||
Total loans, net | $ (72,542,000) | $ (63,346,000) | |
Investment in subsidiaries | $ (77,716,000) | $ (76,865,000) | |
Fixed asset additions | |||
Depreciation and amortization expense | |||
Total interest income from external customers | |||
Total interest income from affiliates | $ (1,015,000) | $ (884,000) | |
Net interest income | 6,661,000 | 6,707,000 | |
Provision (reduction in reserve) for loan losses | 167,000 | (166,000) | |
Total non-interest income | 989,000 | 1,291,000 | |
Total non-interest expense | 7,066,000 | 6,977,000 | |
Income before income taxes | 417,000 | 1,187,000 | |
Provision for income taxes | 0 | 351,000 | |
Net income | 317,000 | 836,000 | |
Total assets | 575,582,000 | 564,882,000 | 575,782,000 |
Total investment securities | 231,466,000 | 249,864,000 | |
Total loans, net | 263,975,000 | 239,218,000 | $ 255,432,000 |
Investment in subsidiaries | 5,000 | 5,000 | |
Fixed asset additions | 3,229,000 | 1,403,000 | |
Depreciation and amortization expense | 232,000 | 213,000 | |
Total interest income from external customers | $ 7,196,000 | $ 7,321,000 | |
Total interest income from affiliates |
Note 15 - Guarantees, Commitm59
Note 15 - Guarantees, Commitments and Contingencies (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Securities Committed to Purchase Amount | $ 2,000,000 | $ 0 | |
Credit Losses Associated With Derivative Contracts | 0 | $ 0 | |
Securities Committed to Sell Amount | $ 0 | $ 0 |
Note 15 - Guarantees, Commitm60
Note 15 - Guarantees, Commitments and Contingencies - Summary of Commitents and Contingent Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Standby Letters of Credit [Member] | ||
Commitments and contingent liabilities | $ 683 | $ 683 |
Commitments to Extend Credit [Member] | ||
Commitments and contingent liabilities | $ 47,288 | $ 61,427 |
Note 16 - Fair Value of Finan61
Note 16 - Fair Value of Financial Instruments - Schedule of Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available-for-sale, at fair value | ||
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available-for-sale, at fair value | $ 129,936 | $ 135,494 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available-for-sale, at fair value | ||
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available-for-sale, at fair value | $ 129,936 | $ 135,494 |
Residential Mortgage Backed Securities [Member] | ||
Investment securities available-for-sale, at fair value | $ 129,936 | $ 135,494 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available-for-sale, at fair value | ||
Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available-for-sale, at fair value | $ 51,740 | $ 45,509 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available-for-sale, at fair value | ||
Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available-for-sale, at fair value | $ 51,740 | $ 45,509 |
Commercial Mortgage Backed Securities [Member] | ||
Investment securities available-for-sale, at fair value | $ 51,740 | $ 45,509 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available-for-sale, at fair value | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available-for-sale, at fair value | $ 14,970 | $ 14,998 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available-for-sale, at fair value | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available-for-sale, at fair value | $ 14,970 | $ 14,998 |
US States and Political Subdivisions Debt Securities [Member] | ||
Investment securities available-for-sale, at fair value | $ 14,970 | $ 14,998 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available-for-sale, at fair value | ||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available-for-sale, at fair value | $ 1,996 | $ 1,982 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available-for-sale, at fair value | ||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available-for-sale, at fair value | $ 1,996 | $ 1,982 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available-for-sale, at fair value | ||
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available-for-sale, at fair value | $ 766 | $ 780 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available-for-sale, at fair value | ||
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available-for-sale, at fair value | $ 766 | $ 780 |
Corporate Debt Securities [Member] | ||
Investment securities available-for-sale, at fair value | $ 766 | $ 780 |
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available-for-sale, at fair value | ||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available-for-sale, at fair value | $ 80 | $ 80 |
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available-for-sale, at fair value | ||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available-for-sale, at fair value | $ 80 | $ 80 |
US Treasury Securities [Member] | ||
Investment securities available-for-sale, at fair value | 80 | $ 80 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Assets [Member] | ||
Other assets – derivatives | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Assets [Member] | ||
Other assets – derivatives | $ 3 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Assets [Member] | ||
Other assets – derivatives | ||
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | ||
Other assets – derivatives | $ 3 | |
Investment securities available-for-sale, at fair value | $ 199,488 | $ 198,843 |
Note 16 - Fair Value of Finan62
Note 16 - Fair Value of Financial Instruments - Balances of Impaired Loans and OREO Measured at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets measured at fair value | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets measured at fair value | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets measured at fair value | $ 2,314 | $ 2,350 |
Impaired Loans [Member] | ||
Financial assets measured at fair value | $ 2,314 | $ 2,350 |
OREO [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets measured at fair value | ||
OREO [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets measured at fair value | ||
OREO [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets measured at fair value | $ 5,356 | $ 6,038 |
OREO [Member] | ||
Financial assets measured at fair value | $ 5,356 | $ 6,038 |
Note 16 - Fair Value of Finan63
Note 16 - Fair Value of Financial Instruments - Summary of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Impaired Loans [Member] | Weighted Average [Member] | |
Quantitative range of unobservable inputs | 9109.50% |
Impaired Loans [Member] | |
Fair value | $ 2,314 |
OREO [Member] | Weighted Average [Member] | |
Quantitative range of unobservable inputs | 9.50% |
OREO [Member] | Minimum [Member] | |
Quantitative range of unobservable inputs | 9.00% |
OREO [Member] | Maximum [Member] | |
Quantitative range of unobservable inputs | 10.00% |
OREO [Member] | |
Fair value | $ 5,356 |
Note 16 - Fair Value of Finan64
Note 16 - Fair Value of Financial Instruments - Schedule of Estimated Fair Value and Related Carrying or Notional Amounts of Company's Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Reported Value Measurement [Member] | ||||
Assets: | ||||
Cash and cash equivalents | $ 30,486 | $ 44,072 | ||
Investment securities available-for-sale, at fair value | 199,488 | 198,843 | ||
Investment securities held-to-maturity, at amortized cost | 31,978 | 32,359 | ||
Federal funds sold | 3,000 | |||
Federal Home Loan Bank stock, at cost | 730 | 1,025 | ||
Loans, net of allowance for loan losses | $ 263,975 | 255,432 | ||
Other assets – derivatives | 3 | |||
Liabilities: | ||||
Deposits | $ 485,537 | 479,258 | ||
Short-term borrowings | 446 | 7,354 | ||
Long-term borrowings | 5,000 | 5,000 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Assets: | ||||
Cash and cash equivalents, fair value | $ 30,486 | $ 44,072 | ||
Investment securities available-for-sale, at fair value | ||||
Investment securities held-to-maturity, fair value | ||||
Federal funds sold | $ 3,000 | |||
Federal Home Loan Bank stock, fair value | ||||
Loans, net of allowance for loan losses, fair value | ||||
Other assets – derivatives, fair value | ||||
Liabilities: | ||||
Deposits, fair value | ||||
Short-term borrowings, fair value | ||||
Long-term borrowings, fair value | ||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Assets: | ||||
Cash and cash equivalents, fair value | ||||
Investment securities available-for-sale, at fair value | $ 199,488 | $ 198,843 | ||
Investment securities held-to-maturity, fair value | $ 32,003 | $ 32,184 | ||
Federal funds sold | ||||
Federal Home Loan Bank stock, fair value | ||||
Loans, net of allowance for loan losses, fair value | ||||
Other assets – derivatives, fair value | $ 3 | |||
Liabilities: | ||||
Deposits, fair value | $ 485,938 | 478,833 | ||
Short-term borrowings, fair value | 445 | 7,352 | ||
Long-term borrowings, fair value | $ 4,992 | $ 4,977 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Assets: | ||||
Cash and cash equivalents, fair value | ||||
Investment securities available-for-sale, at fair value | ||||
Investment securities held-to-maturity, fair value | ||||
Federal funds sold | ||||
Federal Home Loan Bank stock, fair value | $ 730 | $ 1,025 | ||
Loans, net of allowance for loan losses, fair value | $ 265,380 | $ 256,392 | ||
Other assets – derivatives, fair value | ||||
Liabilities: | ||||
Deposits, fair value | ||||
Short-term borrowings, fair value | ||||
Long-term borrowings, fair value | ||||
Estimate of Fair Value Measurement [Member] | ||||
Assets: | ||||
Cash and cash equivalents, fair value | $ 30,486 | $ 44,072 | ||
Investment securities available-for-sale, at fair value | 199,488 | 198,843 | ||
Investment securities held-to-maturity, fair value | 32,003 | 32,184 | ||
Federal funds sold | 3,000 | |||
Federal Home Loan Bank stock, fair value | 730 | 1,025 | ||
Loans, net of allowance for loan losses, fair value | $ 265,380 | 256,392 | ||
Other assets – derivatives, fair value | 3 | |||
Liabilities: | ||||
Deposits, fair value | $ 485,938 | 478,833 | ||
Short-term borrowings, fair value | 445 | 7,352 | ||
Long-term borrowings, fair value | 4,992 | 4,977 | ||
Cash and cash equivalents | 30,486 | 44,072 | $ 30,317 | $ 34,166 |
Investment securities available-for-sale, at fair value | 199,488 | 198,843 | ||
Investment securities held-to-maturity, at amortized cost | 31,978 | 32,359 | ||
Investment securities held-to-maturity, fair value | 32,003 | $ 32,184 | ||
Federal funds sold | 3,000 | |||
Federal Home Loan Bank stock, at cost | 730 | $ 1,025 | ||
Deposits | 485,537 | 479,258 | ||
Short-term borrowings | $ 446 | $ 7,354 |