Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | Apr. 30, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2019 | |
Entity Registrant Name | FRANKLIN FINANCIAL SERVICES CORP /PA/ | |
Entity Central Index Key | 0000723646 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 4,389,414 | |
Trading Symbol | fraf | |
Entity Small Business | true | |
Entity Emerging Growth Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 11,771 | $ 16,957 |
Interest-bearing deposits in other banks | 35,262 | 36,000 |
Total cash and cash equivalents | 47,033 | 52,957 |
Debt securities available for sale, at fair value | 127,881 | 131,472 |
Equity securities | 377 | 374 |
Restricted stock | 452 | 452 |
Loans held for sale | 195 | 118 |
Loans | 980,466 | 973,375 |
Allowance for loan losses | (12,681) | (12,415) |
Net Loans | 967,785 | 960,960 |
Premises and equipment, net | 13,347 | 13,521 |
Right-of-use asset | 6,099 | |
Bank owned life insurance | 23,623 | 23,496 |
Goodwill | 9,016 | 9,016 |
Other real estate owned | 2,684 | 2,684 |
Deferred tax asset, net | 5,700 | 5,992 |
Other assets | 8,768 | 8,545 |
Total assets | 1,212,960 | 1,209,587 |
Deposits | ||
Non-interest bearing checking | 192,004 | 197,417 |
Money management, savings and interest checking | 795,411 | 823,619 |
Time | 89,076 | 61,593 |
Total deposits | 1,076,491 | 1,082,629 |
Lease liability | 6,113 | |
Other liabilities | 8,865 | 8,562 |
Total liabilities | 1,091,469 | 1,091,191 |
Shareholders' equity | ||
Common stock, $1 par value per share,15,000,000 shares authorized with 4,708,349 shares issued and 4,410,880 shares outstanding at March 31, 2019 and 4,701,367 shares issued and 4,408,761 shares outstanding at December 31, 2018 | 4,708 | 4,701 |
Capital stock without par value, 5,000,000 shares authorized with no shares issued and outstanding | ||
Additional paid-in capital | 41,841 | 41,530 |
Retained earnings | 85,991 | 83,946 |
Accumulated other comprehensive loss | (5,281) | (6,380) |
Treasury stock, 297,469 shares at March 31, 2019 and 292,606 shares at December 31, 2018, at cost | (5,768) | (5,401) |
Total shareholders' equity | 121,491 | 118,396 |
Total liabilities and shareholders' equity | $ 1,212,960 | $ 1,209,587 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2019 | Dec. 31, 2018 |
Consolidated Balance Sheets [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Common Stock, Shares Authorized | 15,000,000 | 15,000,000 |
Common Stock, Shares, Issued | 4,708,349 | 4,701,367 |
Common Stock, Shares, Outstanding | 4,410,880 | 4,408,761 |
Capital Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Capital Stock, Shares, Issued | 0 | 0 |
Capital Stock, Shares, Outstanding | 0 | 0 |
Treasury Stock, Shares | 297,469 | 292,606 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Interest income | ||
Loans, including fees | $ 11,009 | $ 9,577 |
Interest and dividends on investments: | ||
Taxable interest | 540 | 513 |
Tax exempt interest | 338 | 274 |
Dividend income | 5 | 6 |
Deposits and obligations of other banks | 97 | 118 |
Total interest income | 11,989 | 10,488 |
Interest expense | ||
Deposits | 1,624 | 795 |
Short-term borrowings | 36 | |
Total interest expense | 1,660 | 795 |
Net interest income | 10,329 | 9,693 |
Provision for loan losses | 399 | 200 |
Net interest income after provision for loan losses | 9,930 | 9,493 |
Noninterest income | ||
Investment and trust services fees | 1,452 | 1,397 |
Loan service charges | 203 | 231 |
Deposit service charges and fees | 545 | 574 |
Other service charges and fees | 353 | 333 |
Debit card income | 402 | 385 |
Increase in cash surrender value of life insurance | 127 | 128 |
OTTI gains on securities | (57,700) | |
Debt securities gains, net | 24 | |
Change in fair value of equity securities | 3 | 45 |
Other | 56 | 55 |
Total noninterest income | 3,165 | 3,148 |
Noninterest Expense | ||
Salaries and employee benefits | 5,442 | 4,986 |
Occupancy, furniture and equipment, net | 856 | 815 |
Advertising | 402 | 427 |
Legal and professional | 430 | 329 |
Data processing | 705 | 596 |
Pennsylvania bank shares tax | 243 | 239 |
FDIC Insurance | 65 | 129 |
ATM/debit card processing | 258 | 238 |
Foreclosed real estate | 17 | 14 |
Telecommunications | 105 | 109 |
Other | 889 | 766 |
Total noninterest expense | 9,412 | 8,648 |
Income before federal income taxes | 3,683 | 3,993 |
Federal income tax expense (benefit) | 446 | 491 |
Net income | $ 3,237 | $ 3,502 |
Per share | ||
Basic earnings per share | $ 0.73 | $ 0.80 |
Diluted earnings per share | 0.73 | 0.80 |
Cash dividends declared | $ 0.27 | $ 0.24 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | |||
Net income | $ 3,237 | $ 3,502 | |
Securities: | |||
Unrealized gains (losses) arising during the period | 1,414 | (1,043) | |
Reclassification for net (gains) losses and OTTI included in net income | [1] | (24) | |
Net unrealized gains (losses) | 1,390 | (1,043) | |
Tax effect | (291) | 262 | |
Net of tax amount | 1,099 | (781) | |
Total other comprehensive income (loss) | 1,099 | (781) | |
Total Comprehensive Income | 4,336 | $ 2,721 | |
Reclassification adjustment / Statement line item: Tax expense (benefit) | |||
Debt securities gains, net | $ 5 | ||
[1] | Debt securities gains, net |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands | Common Stocks [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2017 | $ 4,689 | $ 40,396 | $ 82,218 | $ (6,028) | $ (6,131) | $ 115,144 |
Cumulative adjustment for fair value of equity securities | 201 | (201) | ||||
Net income | 3,502 | 3,502 | ||||
Other comprehensive income (loss) | (781) | (781) | ||||
Cash dividends declared | (1,045) | (1,045) | ||||
Acquisition of treasury stock | (88) | (88) | ||||
Treasury shares issued under employee stock purchase plan | 2 | 4 | 6 | |||
Treasury shares issued under dividend reinvestment plan | 97 | 109 | 206 | |||
Common stock issued under incentive stock option plan | 7 | 142 | 149 | |||
Stock option compensation expense | 31 | 31 | ||||
Balance at Mar. 31, 2018 | 4,696 | 40,668 | 84,876 | (7,010) | (6,106) | 117,124 |
Balance at Dec. 31, 2018 | 4,701 | 41,530 | 83,946 | (6,380) | (5,401) | 118,396 |
Net income | 3,237 | 3,237 | ||||
Other comprehensive income (loss) | 1,099 | 1,099 | ||||
Cash dividends declared | (1,192) | (1,192) | ||||
Acquisition of treasury stock | (560) | (560) | ||||
Treasury shares issued under employee stock purchase plan | 2 | 3 | 5 | |||
Treasury shares issued under dividend reinvestment plan | 161 | 190 | 351 | |||
Common stock issued under incentive stock option plan | 7 | 148 | 155 | |||
Balance at Mar. 31, 2019 | $ 4,708 | $ 41,841 | $ 85,991 | $ (5,281) | $ (5,768) | $ 121,491 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Consolidated Statements Of Changes In Shareholders' Equity [Abstract] | ||
Cash dividends declared | $ 0.27 | $ 0.24 |
Acquisition of treasury stock, shares | 15,163 | 2,605 |
Treasury shares issued under employee stock purchase plan, shares | 150 | 200 |
Treasury shares issued under dividend reinvestment plan, shares | 10,150 | 5,911 |
Common stock issued under incentive stock option plans, shares | 6,982 | 6,518 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities | ||
Net income | $ 3,237 | $ 3,502 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
Depreciation and amortization | 338 | 333 |
Net amortization of loans and investment securities | 409 | 438 |
Provision for loan losses | 399 | 200 |
Change in fair value of equity securities | (3) | (45) |
Debt securities gains, net | (24) | |
Loans originated for sale | (6,467) | (2,527) |
Proceeds from sale of loans | 6,390 | 2,969 |
Write-down of other real estate owned | 6 | |
Loss on sale of premises | 17 | |
Increase in cash surrender value of life insurance | (127) | (128) |
Stock option compensation | 31 | |
Contribution to pension plan | (1,000) | |
(Increase) decrease in other assets | (50) | (448) |
(Decrease) increase in other liabilities | 118 | 148 |
Net cash provided by operating activities | 4,220 | 3,496 |
Cash flows from investing activities | ||
Proceeds from sales and calls of investment securities available for sale | 3,876 | |
Proceeds from maturities and pay-downs of securities available for sale | 6,084 | 5,726 |
Purchase of investment securities available for sale | (5,344) | (13,380) |
Net increase in loans | (7,245) | 1,031 |
Proceeds from sale of other real estate/other repossessed assets | 117 | |
Capital expenditures | (136) | (107) |
Net cash used in investing activities | (2,765) | (6,613) |
Cash flows from financing activities | ||
Net increase in demand deposits, interest-bearing checking, and savings accounts | (33,621) | (3,636) |
Net (decrease) increase in time deposits | 27,483 | (9,084) |
Dividends paid | (1,192) | (1,045) |
Purchase of Treasury shares | (560) | |
Treasury shares issued under dividend reinvestment plan | 160 | 206 |
Common stock issued under stock option plans | 351 | 155 |
Net cash provided by financing activities | (7,379) | (13,404) |
(Decrease) increase in cash and cash equivalents | (5,924) | (16,521) |
Cash and cash equivalents as of January 1 | 52,957 | 58,603 |
Cash and cash equivalents as of September 30 | 47,033 | 42,082 |
Supplemental Disclosures of Cash Flow Information | ||
Cash paid during the year for: Interest on deposits and other borrowed funds | 1,562 | $ 792 |
Noncash Activities: | ||
Recognition of Operating Lease Right-of-Use Asset | 6,236 | |
Recognition of Operating Lease Liability | $ 6,236 |
Basis Of Presentation
Basis Of Presentation | 3 Months Ended |
Mar. 31, 2019 | |
Basis Of Presentation [Abstract] | |
Basis Of Presentation | Note 1 - Basis of Presentation The consolidated financial statements include the accounts of Franklin Financial Services Corporation (the Corporation), and its wholly-owned subsidiaries, Farmers and Merchants Trust Company of Chambersburg (the Bank) and Franklin Future Fund Inc. Farmers and Merchants Trust Company of Chambersburg is a commercial bank that has one wholly-owned subsidiary, Franklin Financial Properties Corp. Franklin Financial Properties Corp. holds real estate assets that are leased by the Bank. Franklin Future Fund Inc. is a non-bank investment company. The activities of non-bank entities are not significant to the consolidated totals. All significant intercompany transactions and account balances have been eliminated. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the consolidated financial position, results of operations, and cash flows as of March 31, 2019 , and for all other periods presented have been made. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. It is suggested that these consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s 2018 Annual Report on Form 10-K. The consolidated results of operations for the three month period ended March 31, 2019 are not necessarily indicative of the operating results for the full year. Management has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. The consolidated balance sheet at December 31, 2018 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete consolidated financial statements. For purposes of reporting cash flows, cash and cash equivalents include cash and due from banks, interest-bearing deposits in other banks and federal funds sold. Generally, federal funds are purchased and sold for one-day periods. Earnings per share are computed based on the weighted average number of shares outstanding during each period end. A reconciliation of the weighted average shares outstanding used to calculate basic earnings per share and diluted earnings per share follows: For the Three Months Ended March 31, (Dollars and shares in thousands, except per share data) 2019 2018 Weighted average shares outstanding (basic) 4,412 4,359 Impact of common stock equivalents 21 28 Weighted average shares outstanding (diluted) 4,433 4,387 Anti-dilutive options excluded from calculation — — Net income $ 3,237 $ 3,502 Basic earnings per share $ 0.73 $ 0.80 Diluted earnings per share $ 0.73 $ 0.80 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2019 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Note 2. Recent Accounting Pronouncements The following accounting pronouncements have recently been adopted or will be adopted in future periods. For information on accounting pronouncements previously adopted, please refer to the Corporation’s report on Form 10-K for the year-ended December 31, 2018. Standard Description Effective Date Effect on the financial statements or other significant matters ASU 2016-02, Leases (Topic 842) and all subsequently issued amendments In February 2016, the FASB issued ASU 2016-02, "Leases (Subtopic 842)." This ASU requires all lessees to recognize a lease liability and a right-of-use asset, measured at the present value of the future minimum lease payments, at the lease commencement date. Lessor accounting remains largely unchanged under the new guidance. FASB subsequently issued various amendments that provided implementation guidance designed to provide entities with relief from the costs of implementing certain aspects of the new standard. From the lessee's perspective, the new standard requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement for lessees. ASU 2016-02 and all subsequent amendments are effective for fiscal years, including interim periods, beginning after December 15, 2018. Early adoption of ASU 2016-02 is permitted. January 1, 2019 The Corporation adopted ASU 2016-02, "Leases (Topic 842)" and all subsequent amendments on January 1, 2019 using the modified retrospective approach, and it did not have a material effect on its consolidated results of operations. Adoption of the new standard resulted in the recognition of a lease liability and a right-of-use asset of $6.2 million without a cumulative effect adjustment to retained earnings. The Corporation did not restate any prior period results. The Corporation adopted the package of practical expedients offered in ASU 2016-02 and therefore, existing lease classifications were not reassessed, expired or existing contracts were not reassessed for a lease, and the initial direct costs for any existing leases were not reassessed. In addition to the package of practical expedients, the Corporation also utilized other practical expedients offered: (1) the hindsight expedient which allows entities to use hindsight to determine the lease term was not adopted, (2) leases, for all underlying asset classes, with a term less than 12 months and no purchase option were excluded, (3) the option to not separate lease and non-lease components and account for them as a single component was adopted for real estate leases, and (4) the option to not apply lease accounting to existing land easements was adopted. See Note 7 for additional information on the adoption of the new standard. ASU 2018-13, Disclosure Framework (Topic 820) This guidance eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reason for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. January 1, 2019 The Corporation adopted the standard on January 1, 2019 and it did not have a material effect on its consolidated results of operations. ASU 2018-15, Accounting for Implementation Costs in a Cloud Computing Arrangement (Topic 350) This ASU required an entity in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Capitalized implementation costs should be presented in the same line item on the balance sheet as amounts prepaid for the hosted service, if any (generally as an "other asset"). The capitalized costs will be amortized over the term of the hosting arrangement, with the amortization expense being presented in the same income statement line item as the fees paid for the hosted service. The ASU is effective January 1, 2020 with early adoption permitted. January 1, 2020 The Corporation adopted the standard on January 1, 2019 and it did not have a material effect on its consolidated results of operations. ASU 2017-04, Goodwill (Topic 350) This guidance, among other things, removes step 2 of the goodwill impairment test thus eliminating the need to determine the fair value of individual assets and liabilities of the reporting unit. Upon adoption of this standard, goodwill impairment will be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This may result in more or less impairment being recognized than under the current guidance. Early adoption is permitted for any impairment tests performed after January 1, 2017, applied prospectively. January 1, 2020 The Corporation early adopted the ASU in the fourth quarter of 2018 with the completion of the 2018 impairment analysis. The Corporation is still evaluating the effect of the standard on its consolidated financial statements. ASU 2018-14, Disclosure Framework (Topic 715): Changes to the Disclosure Requirements for Defined Benefit Plans This ASU makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020; early adoption is permitted. January 1, 2020 The Corporation will adopt the provisions of the ASU on January 1, 2020. As the ASU only revises disclosure requirements, it is not expected to have a material effect on the consolidated financial statements. ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This standard requires credit losses on most financial assets measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (CECL) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument (considering estimated prepayments, but not expected extensions or modifications unless reasonable expectation of a troubled debt restructuring exists) from the date of initial recognition of that instrument. The ASU replaces the current accounting model for purchased credit impaired loans and debt securities. The allowance for credit losses for purchased financial assets with a more-than insignificant amount of credit deterioration since origination (“PCD assets”), should be determined in a similar manner to other financial assets measured on an amortized cost basis. However, upon initial recognition, the allowance for credit losses is added to the purchase price (“gross up approach”) to determine the initial amortized cost basis. The subsequent accounting for PCD financial assets is the same expected loss model described above. January 1, 2020 We have formed an implementation team led by the Corporation's Risk Management function. The team is reviewing the requirements of the ASU and evaluating methods and models for implementation. The new standard will result in earlier recognition of additions to the allowance for loan losses and possibly a larger allowance for loan loss balance with a corresponding increase in the provision for loan losses in results of operations; however, the Corporation is continuing to evaluate the impact of the pending adoption of the new standard on its consolidated financial statements. A third-party vendor has been selected to assist with the CECL calculations and the implementation process has started. The Corporation expects to be able to run the CECL model in test mode starting in the second quarter of 2019. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 3 Months Ended |
Mar. 31, 2019 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Accumulated Other Comprehensive Loss | Note 3. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss es included in shareholders' equity are as follows: March 31, December 31, 2019 2018 (Dollars in thousands) Net unrealized (losses) gains on debt securities $ 290 $ (1,100) Tax effect (61) 230 Net of tax amount 229 (870) Accumulated pension adjustment (6,975) (6,975) Tax effect 1,465 1,465 Net of tax amount (5,510) (5,510) Total accumulated other comprehensive loss $ (5,281) $ (6,380) |
Investments
Investments | 3 Months Ended |
Mar. 31, 2019 | |
Investments [Abstract] | |
Investments | Note 4 . Investments Available for Sale (AFS) Securities The amortized cost and estimated fair value of AFS securities as of March 31, 2019 and December 31, 2018 are as follows : (Dollars in thousands) Gross Gross Amortized unrealized unrealized Fair March 31, 2019 cost gains losses value U.S. Government and Agency securities $ 9,634 $ 24 $ (40) $ 9,618 Municipal securities 63,820 845 (108) 64,557 Trust preferred securities 4,080 — (180) 3,900 Agency mortgage-backed securities 42,818 135 (364) 42,589 Private-label mortgage-backed securities 448 30 — 478 Asset-backed securities 6,791 — (52) 6,739 $ 127,591 $ 1,034 $ (744) $ 127,881 (Dollars in thousands) Gross Gross Amortized unrealized unrealized Fair December 31, 2018 cost gains losses value U.S. Government and Agency securities $ 9,120 $ 21 $ (65) $ 9,076 Municipal securities 67,811 320 (484) 67,647 Trust preferred securities 4,074 — (316) 3,758 Agency mortgage-backed securities 45,241 65 (648) 44,658 Private-label mortgage-backed securities 457 31 — 488 Asset-backed securities 5,869 — (24) 5,845 $ 132,572 $ 437 $ (1,537) $ 131,472 At March 31, 2019 and December 31, 2018 , the fair value of AFS securities pledged to secure public funds and trust deposits totaled $ 76.7 million and $ 84.6 million, respectively. The amortized cost and estimated fair value of debt securities at March 31, 2019 , by contractual maturity are shown below. Actual maturities may differ from contractual maturities because of prepayment or call options embedded in the securities. (Dollars in thousands) Amortized cost Fair value Due in one year or less $ 21,030 $ 21,084 Due after one year through five years 25,764 25,839 Due after five years through ten years 35,173 35,467 Due after ten years 2,358 2,424 84,325 84,814 Mortgage-backed securities 43,266 43,067 $ 127,591 $ 127,881 The composition of the net realized gains on AFS securities for the three months ended are as follows: For the Three Months Ended March 31, (Dollars in thousands) 2019 2018 Gross gains realized $ 33 $ — Gross losses realized (9) — Net gains realized $ 24 $ — Impairment : The AFS securities portfolio contained 125 securities with $57.7 million of temporarily impaired fair value and $744 thousand in unrealized losses at March 31, 2019. The total unrealized loss position has decreased $793 thousand since year-end 2018. For securities with an unrealized loss, Management applies a systematic methodology in order to perform an assessment of the potential for other-than-temporary impairment. In the case of debt securities, investments considered for other-than-temporary impairment: (1) had a specified maturity or repricing date; (2) were generally expected to be redeemed at par, and (3) were expected to achieve a recovery in market value within a reasonable period of time. In addition, the Bank considers whether it intends to sell these securities or whether it will be forced to sell these securities before the earlier of amortized cost recovery or maturity. The impairment identified on debt securities and subject to assessment at March 31, 2019, was deemed to be temporary and required no further adjustments to the financial statements, unless otherwise noted. The following table reflects temporary impairment in the AFS portfolio, aggregated by investment category, length of time that individual securities have been in a continuous unrealized loss position and the number of securities in each category as of March 31, 2019 and December 31, 2018 : March 31, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities $ — $ — — $ 4,777 $ (40) 14 $ 4,777 $ (40) 14 Municipal securities 238 — 1 12,377 (108) 21 12,615 (108) 22 Trust preferred securities 1,166 (33) 2 2,734 (147) 3 3,900 (180) 5 Agency mortgage-backed securities 895 (1) 4 28,746 (363) 71 29,641 (364) 75 Asset-backed securities 6,721 (51) 7 18 (1) 2 6,739 (52) 9 Total temporarily impaired securities $ 9,020 $ (85) 14 $ 48,652 $ (659) 111 $ 57,672 $ (744) 125 December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities $ 2,071 $ (6) 2 $ 5,175 $ (59) 14 $ 7,246 $ (65) 16 Municipal securities 5,832 (12) 10 25,091 (472) 42 30,923 (484) 52 Trust preferred securities 2,008 (159) 3 1,750 (157) 2 3,758 (316) 5 Agency mortgage-backed securities 7,687 (46) 16 30,511 (602) 74 38,198 (648) 90 Asset-backed securities 5,826 (22) 6 19 (2) 2 5,845 (24) 8 Total temporarily impaired securities $ 23,424 $ (245) 37 $ 62,546 $ (1,292) 134 $ 85,970 $ (1,537) 171 The following table represents the cumulative credit losses on AFS securities recognized in earnings for: Three Months Ended (Dollars in thousands) March 31, 2019 2018 Balance of cumulative credit-related OTTI at January 1 $ 272 $ 595 Additions for credit-related OTTI not previously recognized — — Additional increases for credit-related OTTI previously recognized when there is no intent to sell and no requirement to sell before recovery of amortized cost basis — — Decreases for previously recognized credit-related OTTI because there was an intent to sell — — Reduction for increases in cash flows expected to be collected — — Balance of credit-related OTTI at March 31 $ 272 $ 595 Equity securities at Fair Value The Corporation owns one equity investment. At March 31, 2019 and December 31, 2018, this investment was reported at fair value of $377 thousand and $374 thousand, respectively, with changes in value reported through income. Restricted Stock at Cost The Bank held $452 thousand of restricted stock at March 31, 2019. Except for $30 thousand, this investment represents stock in FHLB Pittsburgh. The Bank is required to hold this stock to be a member of FHLB and it is carried at cost of $100 per share. The level of FHLB stock held is determined by FHLB and is comprised of a minimum membership amount plus a variable activity amount. FHLB stock is evaluated for impairment primarily based on an assessment of the ultimate recoverability of its cost. As a government sponsored entity, FHLB has the ability to raise funding through the U.S. Treasury that can be used to support its operations. There is not a public market for FHLB stock and the benefits of FHLB membership (e.g., liquidity and low cost funding) add value to the stock beyond purely financial measures. Management intends to remain a member of the FHLB and believes that it will be able to fully recover the cost basis of this investment. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2019 | |
Loans [Abstract] | |
Loans | Note 5 . Loans The Bank reports its loan portfolio based on the primary collateral of the loan. It further classifies these loans by the primary purpose, either consumer or commercial. The Bank’s residential real estate loans include long-term loans to individuals and businesses secured by mortgages on the borrower’s real property and include home equity loans . Construction loans are made to finance the purchase of land and the construction of residential and commercial buildings thereon, and are secured by mortgages on real estate. Commercial real estate loans include construction, owner and non-owner occupied properties and farm real estate. Commercial loans are made to businesses of various sizes for a variety of purposes including property, plant and equipment, working capital and loans to government municipalities . Commercial lending is concentrated in the Bank’s primary market, but also includes purchased loan participations. Consumer loans are comprised of installment loans and unsecured personal lines of credit. A summary of loans outstanding, by class , at the end of the reporting periods is as follows: March 31, December 31, (Dollars in thousands) 2019 2018 Residential Real Estate 1-4 Family Consumer first liens $ 89,212 $ 89,673 Commercial first lien 58,210 59,227 Total first liens 147,422 148,900 Consumer junior liens and lines of credit 41,831 42,504 Commercial junior liens and lines of credit 4,859 4,716 Total junior liens and lines of credit 46,690 47,220 Total residential real estate 1-4 family 194,112 196,120 Residential real estate - construction Consumer 2,750 1,667 Commercial 11,231 8,558 Total residential real estate construction 13,981 10,225 Commercial real estate 497,974 487,980 Commercial 269,243 274,054 Total commercial 767,217 762,034 Consumer 5,156 4,996 980,466 973,375 Less: Allowance for loan losses (12,681) (12,415) Net Loans $ 967,785 $ 960,960 Included in the loan balances are the following: Net unamortized deferred loan costs $ 125 $ 123 Loans pledged as collateral for borrowings and commitments from: FHLB $ 787,055 $ 772,564 Federal Reserve Bank 33,645 34,160 $ 820,700 $ 806,724 |
Loan Quality And Allowance for
Loan Quality And Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2019 | |
Loan Quality And Allowance for Loan Losses [Abstract] | |
Loan Quality and Allowance for Loan Losses | Note 6 . Loan Quality and Allowance for Loan Losses The following table presents, by class, the activity in the Allowance for Loan Losses (ALL) for the periods shown: Residential Real Estate 1-4 Family First Junior Liens & Commercial (Dollars in thousands) Liens Lines of Credit Construction Real Estate Commercial Consumer Unallocated Total ALL at December 31, 2018 $ 491 $ 133 $ 108 $ 5,698 $ 4,511 $ 70 $ 1,404 $ 12,415 Charge-offs (33) (1) (3) (63) (61) (26) — (187) Recoveries 1 — — 1 42 10 — 54 Provision 28 — 47 270 70 18 (34) 399 ALL at March 31, 2019 $ 487 $ 132 $ 152 $ 5,906 $ 4,562 $ 72 $ 1,370 $ 12,681 ALL at December 31, 2017 $ 1,060 $ 330 $ 224 $ 6,526 $ 2,110 $ 105 $ 1,437 $ 11,792 Charge-offs - — — — — (26) — (26) Recoveries 1 — — — 8 14 — 23 Provision (18) (10) 36 172 (45) 11 54 200 ALL at March 31, 2018 $ 1,043 $ 320 $ 260 $ 6,698 $ 2,073 $ 104 $ 1,491 $ 11,989 The following table presents, by class, loans that were evaluated for the ALL under the specific reserve (individually) and those that were evaluated under the general reserve (collectively) and the amount of the ALL established in each class as of March 31, 2019 and December 31, 2018 : Residential Real Estate 1-4 Family First Junior Liens & Commercial (Dollars in thousands) Liens Lines of Credit Construction Real Estate Commercial Consumer Unallocated Total March 31, 2019 Loans evaluated for ALL: Individually $ 401 $ — $ 652 $ 13,247 $ — $ — $ — $ 14,300 Collectively 147,021 46,690 13,329 484,727 269,243 5,156 — 966,166 Total $ 147,422 $ 46,690 $ 13,981 $ 497,974 $ 269,243 $ 5,156 $ — $ 980,466 ALL established for loans evaluated: Individually $ — $ — $ — $ — $ — $ — $ — $ — Collectively 487 132 152 5,906 4,562 72 1,370 12,681 ALL at March 31, 2019 $ 487 $ 132 $ 152 $ 5,906 $ 4,562 $ 72 $ 1,370 $ 12,681 December 31, 2018 Loans evaluated for ALL: Individually $ 405 $ — $ 455 $ 10,099 $ 181 $ — $ — $ 11,140 Collectively 148,495 47,220 9,770 477,881 273,873 4,996 — 962,235 Total $ 148,900 $ 47,220 $ 10,225 $ 487,980 $ 274,054 $ 4,996 $ — $ 973,375 ALL established for loans evaluated: Individually $ — $ — $ — $ — $ — $ — $ — $ — Collectively 491 133 108 5,698 4,511 70 1,404 12,415 ALL at December 31, 2018 $ 491 $ 133 $ 108 $ 5,698 $ 4,511 $ 70 $ 1,404 $ 12,415 The following table shows additional information about those loans considered to be impaired at March 31, 2019 and December 31, 2018 : Impaired Loans With No Allowance With Allowance (Dollars in thousands) Unpaid Unpaid Recorded Principal Recorded Principal Related March 31, 2019 Investment Balance Investment Balance Allowance Residential Real Estate 1-4 Family First liens $ 889 $ 889 $ — $ — $ — Junior liens and lines of credit 44 44 — — — Total 933 933 — — — Residential real estate - construction 652 729 — — — Commercial real estate 13,446 14,022 — — — Commercial 129 146 — — — Total $ 15,160 $ 15,830 $ — $ — $ — December 31, 2018 Residential Real Estate 1-4 Family First liens $ 871 $ 958 $ — $ — $ — Junior liens and lines of credit 49 49 — — — Total 920 1,007 — — — Residential real estate - construction 455 531 — — — Commercial real estate 10,236 10,808 — — — Commercial 315 9,763 — — — Total $ 11,926 $ 22,109 $ — $ — $ — The following table shows the average of impaired loans and related interest income for the three months ended March 31, 2019 and 2018 : Three Months Ended Three Months Ended March 31, 2019 March 31, 2018 Average Interest Average Interest (Dollars in thousands) Recorded Income Recorded Income Investment Recognized Investment Recognized Residential Real Estate 1-4 Family First liens $ 893 $ 11 $ 805 $ 11 Junior liens and lines of credit 44 — — — Total 937 11 805 11 Residential real estate - construction 653 — 466 — Commercial real estate 13,494 102 10,994 105 Commercial 129 — 185 — Total $ 15,213 $ 113 $ 12,450 $ 116 The following table presents the aging of payments of the loan portfolio : (Dollars in thousands) Loans Past Due and Still Accruing Total Current 30-59 Days 60-89 Days 90 Days+ Total Non-Accrual Loans March 31, 2019 Residential Real Estate 1-4 Family First liens $ 146,866 $ 309 $ 30 $ 137 $ 476 $ 80 $ 147,422 Junior liens and lines of credit 46,588 29 29 18 76 26 46,690 Total 193,454 338 59 155 552 106 194,112 Residential real estate - construction 13,329 — — — — 652 13,981 Commercial real estate 491,462 438 1,331 — 1,769 4,743 497,974 Commercial 268,527 273 262 52 587 129 269,243 Consumer 5,135 21 — — 21 — 5,156 Total $ 971,907 $ 1,070 $ 1,652 $ 207 $ 2,929 $ 5,630 $ 980,466 December 31, 2018 Residential Real Estate 1-4 Family First liens $ 148,183 $ 322 $ 202 $ 113 $ 637 $ 80 $ 148,900 Junior liens and lines of credit 47,040 131 — 26 157 23 47,220 Total 195,223 453 202 139 794 103 196,120 Residential real estate - construction 9,572 — 198 — 198 455 10,225 Commercial real estate 481,774 1,343 3,323 113 4,779 1,427 487,980 Commercial 273,534 65 40 100 205 315 274,054 Consumer 4,933 46 12 5 63 — 4,996 Total $ 965,036 $ 1,907 $ 3,775 $ 357 $ 6,039 $ 2,300 $ 973,375 The following table reports the risk rating for th ose loan s in the portfolio that are assigned an individual risk rating. Consumer purpose loans are assigned a rating of either pass or substandard based on the performance status of the loans. Substandard consumer loans are comprised of loans 90 days or more past due and still accruing , and nonaccrual loans. Commercial purpose loans may be assigned any rating in accordance with the Bank’s internal risk rating system. Pass Special Mention Substandard Doubtful (Dollars in thousands) (1-5) (6) (7) (8) Total March 31, 2019 Residential Real Estate 1-4 Family First liens $ 146,986 $ — $ 436 $ — $ 147,422 Junior liens and lines of credit 46,646 — 44 — 46,690 Total 193,632 — 480 — 194,112 Residential real estate - construction 13,329 — 652 — 13,981 Commercial real estate 490,057 655 7,262 — 497,974 Commercial 268,345 — 898 — 269,243 Consumer 5,156 — — — 5,156 Total $ 970,519 $ 655 $ 9,292 $ — $ 980,466 December 31, 2018 Residential Real Estate 1-4 Family First liens $ 148,453 $ — $ 447 $ — $ 148,900 Junior liens and lines of credit 47,171 — 49 — 47,220 Total 195,624 — 496 — 196,120 Residential real estate - construction 9,572 — 653 — 10,225 Commercial real estate 479,969 660 7,351 — 487,980 Commercial 272,959 — 1,095 — 274,054 Consumer 4,991 — 5 — 4,996 Total $ 963,115 $ 660 $ 9,600 $ — $ 973,375 The following table presents information on the Bank’s Troubled Debt Restructuring (TDR) loans: Troubled Debt Restructurings Within the Last 12 Months That Have Defaulted (Dollars in thousands) Troubled Debt Restructurings On Modified Terms Number of Recorded Number of Recorded Contracts Investment Performing* Nonperforming* Contracts Investment March 31, 2019 Residential real estate - construction 1 $ 454 $ — $ 454 — $ — Residential real estate 4 673 673 — — — Commercial real estate 11 9,982 8,703 1,279 — — Total 16 $ 11,109 $ 9,376 $ 1,733 — $ — December 31, 2018 Residential real estate - construction 1 $ 455 $ — $ 455 — $ — Residential real estate 4 678 678 — — — Commercial real estate 11 10,099 8,809 1,290 — — Total 16 $ 11,232 $ 9,487 $ 1,745 — $ — * The performing status is determined by the loan’s compliance with the modified terms . There were no new TDR loans during 201 9 and 2018 . |
Leases
Leases | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Leases | Note 7. Leases The Corporation adopted ASU 2016-02 “Leases (Topic 842)” and all subsequent amendments on January 1, 2019 using the modified retrospective method. The Corporation has elected the option to apply the new standard as of January 1, 2019 without restatement of any prior period results. Adoption of the new standard resulted in the recognition of a lease liability and a right-of-use asset of $6.2 million without a cumulative effect adjustment to retained earnings. The Corporation leases various assets in the course of its operations that are subject to recognition under the new standard. The Corporation considers all of its leases to be operating leases and it has no finance leases. The leased assets are comprised of equipment; and buildings and land (collectively real estate). The equipment leases are shorter-term than the real estate leases, and generally have a fixed payment over a defined term without renewal options. Certain equipment leases have purchase options and it was determined the option was not reasonably certain to be exercised. T he real estate leases are longer-term and may contain renewal options after the initial term, but none of the real estate leases contain a purchase option. The renewal options on real estate leases were reviewed and if it was determined the option was reasonably certain to be renewed, the option term was considered in the determination of the lease liability. There is only one real estate lease with a variable payment based on an index included in the lease liability. None of the leases contain any restrictive covenants and there are no significant leases that have not yet commenced. The discount rate used to determine the lease liability is based on the Bank’s fully secured borrowing rate from the Federal Home Loan Bank for a term similar to the lease term. Adoption of the new standard did not affect the Corporation’s status as a “well-capitalized” institution. The Corporation has one real estate lease to a related party with a liability value of $1.8 million . Operating lease expense is included in net occupancy expense in the consolidated statements of income. See Note 1 for additional information on the adoption of the new standard. Lease costs for the three months ended March 31, 2019 were as follows: Three Months Ended (Dollars in thousands) March 31, 2019 Operating lease cost $ 188 Short-term lease cost 6 Variable lease cost 11 Total lease cost $ 205 Cash paid for amounts included in the measurement of lease liabilities and the weighted-average remaining lease term and discount rate were as follows: Three Months Ended (Dollars in thousands) March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 123 Weighted-average remaining lease term 13.7 years Weighted-average discount rate 3.54% As of March 31, 2019, the future minimum payments for operating leases having initial or remaining lease terms in excess of one year were as follows: (Dollars in thousands) 2019 $ 706 2020 664 2021 651 2022 543 2023 539 2024 and beyond 4,790 Total undiscounted cash flows 7,893 Discounted cash flows (1,780) Total lease liability $ 6,113 |
Other Real Estate Owned
Other Real Estate Owned | 3 Months Ended |
Mar. 31, 2019 | |
Other Real Estate Owned [Abstract] | |
Other Real Estate Owned | Note 8. Other Real Estate Owned Changes in other real estate owned were as follows: Three Months Ended March 31, (Dollars in thousands) 2019 2018 Balance at beginning of the period $ 2,684 $ 2,598 Additions — — Proceeds from dispositions — — Loss on sales, net — — Valuation adjustment — (6) Balance at the end of the period $ 2,684 $ 2,592 |
Pension
Pension | 3 Months Ended |
Mar. 31, 2019 | |
Pension [Abstract] | |
Pension | Note 9 . Pension The components of pension expense for the periods presented are as follows: Three Months Ended March 31, (Dollars in thousands) 2019 2018 Components of net periodic cost: Service cost $ 80 $ 90 Interest cost 158 138 Expected return on plan assets (270) (279) Recognized net actuarial loss 152 176 Net period cost $ 120 $ 125 The Bank expects its pension expense to decrease to approximately $420 thousand in 2019 compared to $500 thousand in 2018, due primarily to decreases in service costs and recognized net actuarial losses . The service cost component of pension expense is in the salaries and employee benefits line on the income statement. All other cost components are in the other expense line on the income statement. |
Fair Value Measurements And Fai
Fair Value Measurements And Fair Values Of Financial Instruments | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract] | |
Fair Value Measurements And Fair Values Of Financial Instruments | Note 10. Fair Value Measurements and Fair Values of Financial Instruments Management uses its best judgment in estimating the fair value of the Corporation’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Corporation could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective period-ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates maybe different than the amounts reported at each year-end. The Corporation uses the exit price notion to measure the fair value of financial instruments. FASB ASC Topic 820, “Financial Instruments”, requires disclosure of the fair value of financial assets and liabilities, including those financial assets and liabilities that are not measured and reported at fair value on a recurring and nonrecurring basis. The Corporation does not report any nonfinancial assets at fair value. FASB ASC Topic 820 establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FASB ASC Topic 820 are as follows: Level 1 : Valuation is based on unadjusted, quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 : Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. There may be substantial differences in the assumptions used for securities within the same level. For example, prices for U.S. Agency securities have fewer assumptions and are closer to level 1 valuations than the private label mortgage backed securities that require more assumptions and are closer to level 3 valuations. Level 3 : Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Corporation’s assumptions regarding what market participants would assume when pricing a financial instrument. An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The following information regarding the fair value of the Corporation’s financial instruments should not be interpreted as an estimate of the fair value of the entire Corporation since a fair value calculation is only provided for a limited portion of the Corporation’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Corporation’s disclosures and those of other companies may not be meaningful. The fair value of the Corporation's financial instruments are as follows: March 31, 2019 Carrying Fair (Dollars in thousands) Amount Value Level 1 Level 2 Level 3 Financial assets, carried at cost: Cash and cash equivalents $ 47,033 $ 47,033 $ 47,033 $ — $ — Restricted stock 452 452 — 452 — Loans held for sale 195 195 195 Net loans 967,785 952,024 — — 952,024 Accrued interest receivable 3,963 3,963 — 3,963 — Financial assets, available for sale Debt securities 127,881 127,881 — 127,881 — Financial assets, fair value Equity securities 377 377 377 — — Financial liabilities: Deposits $ 1,076,491 $ 1,076,572 $ — $ 1,076,572 $ — Accrued interest payable 291 291 — 291 — December 31, 2018 Carrying Fair (Dollars in thousands) Amount Value Level 1 Level 2 Level 3 Financial assets, carried at cost: Cash and cash equivalents $ 52,957 $ 52,957 $ 52,957 $ — $ — Restricted stock 452 452 — 452 — Loans held for sale 118 118 — 118 — Net loans 960,960 941,930 — — 941,930 Accrued interest receivable 4,103 4,103 — 4,103 — Financial assets, available for sale Debt securities 131,472 131,472 — 131,472 — Financial assets, fair value Equity securities 374 374 374 — — Financial liabilities: Deposits $ 1,082,629 $ 1,082,425 $ — $ 1,082,425 $ — Accrued interest payable 193 193 — 193 — Recurring Fair Value Measurements For financial assets and liabilities measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at March 31, 2019 and December 31, 2018 are as follows: (Dollars in Thousands Fair Value at March 31, 2019 Asset Description Level 1 Level 2 Level 3 Total Equity securities, at fair value $ 377 $ — $ — $ 377 Available for sale: U.S. Government and Agency securities — 9,618 — 9,618 Municipal securities — 64,557 — 64,557 Trust Preferred Securities — 3,900 — 3,900 Agency mortgage-backed securities — 42,589 — 42,589 Private-label mortgage-backed securities — 478 — 478 Asset-backed securities — 6,739 — 6,739 Total assets $ 377 $ 127,881 $ — $ 128,258 (Dollars in Thousands) Fair Value at December 31, 2018 Asset Description Level 1 Level 2 Level 3 Total Equity securities, at fair value $ 374 $ — $ — $ 374 Available for sale: U.S. Government and Agency securities — 9,076 — 9,076 Municipal securities — 67,647 — 67,647 Trust Preferred Securities — 3,758 — 3,758 Agency mortgage-backed securities — 44,658 — 44,658 Private-label mortgage-backed securities — 488 — 488 Asset-backed securities — 5,845 — 5,845 Total assets $ 374 $ 131,472 $ — $ 131,846 Investment securities: Level 1 securities represent equity securities that are valued using quoted market prices form nationally recognized markets. Level 2 securities represent debt securities that are valued using a mathematical model based upon the specific characteristics of a security in relationship to quoted prices for similar securities. Nonrecurring Fair Value Measurements The Corporation did not record any assets at fair value for which measurement of the fair value was made on a nonrecurring basis at March 31, 2019 . For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at December 31, 2018 was as follows: (Dollars in Thousands) Fair Value at December 31, 2018 Asset Description Level 1 Level 2 Level 3 Total Other real estate owned (1) $ — $ — $ 71 $ 71 Total assets $ — $ — $ 71 $ 71 (1) Includes assets directly charged-down to fair value during the year-to-date period. The Corporation used the following methods and significant assumptions to estimate the fair values for financial assets measured at fair value on a nonrecurring basis. Other real estate : The fair value of other real estate, upon initial recognition, is estimated using Level 2 inputs within the fair value hierarchy based on observable market data and Level 3 inputs based on customized discounting criteria. In connection with the measurement and initial recognition of the foregoing assets, the Corporation recognizes charge-offs through the allowance for loan losses. Subsequent charge-offs are recognized as an expense. The Corporation did not record any liabilities at fair value for which measurement of the fair value was made on a nonrecurring basis at March 31, 2019 . For financial assets and liabilities measured at fair value on a recurring basis, there were no transfers of financial assets or liabilities between Level 1 and Level 2 during the period ending March 31, 2019 . The following table presents additional quantitative information about Level 3 assets measured at fair value on a nonrecurring basis: (Dollars in Thousands) December 31, 2018 Fair Value Valuation Technique Unobservable Input Weighted Average Other real estate owned (1) $ 71 Appraisal Cost to sell 8% (8%) (1) Includes assets directly charged-down to fair value during the year-to-date period. (2) Qualitative adjustments are discounts specific to each asset and are made as needed. |
Capital Ratios
Capital Ratios | 3 Months Ended |
Mar. 31, 2019 | |
Capital Ratios [Abstract] | |
Capital Ratios | Note 11. Capital Ratios Capital adequacy is currently defined by regulatory agencies through the use of several minimum required ratios. In July 2013, Federal banking regulators approved the final rules from the Basel Committee on Banking Supervision for the regulation of capital requirements for bank holding companies and U.S banks, generally referred to as “Basel III.” The Basel III standards were effective for the Corporation and the Bank, effective January 1, 2015 (subject to a phase-in period for certain provisions). Basel III imposes significantly higher capital requirements and more restrictive leverage and liquidity ratios than those previously in place. The capital ratios to be considered “well capitalized” under Basel III are: (1) Common Equity Tier 1 (CET1) of 6.5% , (2) Tier 1 Leverage of 5% , (3) Tier 1 Risk-Based Capital of 8% , and (4) Total Risk-Based Capital of 10% . The CET1 ratio is a new capital ratio under Basel III and the Tier 1 risk-based capital ratio of 8% has been increased from 6% . The rules also include changes in the risk weights of certain assets to better reflect credit and other risk exposures. In addition, a capital conservation buffer will be phased-in beginning January 1, 2016 at 0.625% , 1.25% for 2017, 1.875% for 2018 and 2.50% for 2019 and thereafter. The capital conservation buffer will be applicable to all of the capital ratios except for the Tier1 Leverage ratio. The capital conservation buffer is equal to the lowest value of the three applicable capital ratios less the regulatory minimum for each respective capital measurement. The Bank’s capital conservation buffer at March 31, 2019 was 6.95% (total risk-based capital 14.95% less 8.00%) compared to the 2019 regulatory buffer of 2.50%. Complia nc e with the capital conservation buffer is required in order to avoid limitations to certain capital distributions. As of March 31, 2019 , the Bank was “well capitalized’ under the Basel III requirements . The following table summarizes regulatory capital information as of March 31, 2019 and December 31, 2018 for the Corporation and the Bank: Regulatory Ratios Adequately Well March 31, December 31, Capitalized Capitalized (Dollars in thousands) 2019 2018 Minimum Minimum Common Equity Tier 1 Risk-based Capital Ratio (1) Franklin Financial Services Corporation 13.78% 13.96% 4.500% N/A Farmers & Merchants Trust Company 13.69% 13.80% 4.500% 6.50% Tier 1 Risk-based Capital Ratio (2) Franklin Financial Services Corporation 13.78% 13.96% 6.000% N/A Farmers & Merchants Trust Company 13.69% 13.80% 6.000% 8.00% Total Risk-based Capital Ratio (3) Franklin Financial Services Corporation 15.04% 15.21% 8.000% N/A Farmers & Merchants Trust Company 14.95% 15.06% 8.000% 10.00% Tier 1 Leverage Ratio (4) Franklin Financial Services Corporation 9.88% 9.78% 4.000% N/A Farmers & Merchants Trust Company 9.82% 9.68% 4.000% 5.00% (1) Common equity Tier 1 capital/ total risk-weighted assets (2) Tier 1 capital / total risk-weighted assets (3) Total risk-based capital / total risk-weighted assets, (4) Tier 1 capital / average quarterly assets |
Revenue Recognition
Revenue Recognition | 3 Months Ended |
Mar. 31, 2019 | |
Revenue Recognition [Abstract] | |
Revenue Recognition | Note 1 2 . Revenue Recognition The Corporation adopted ASC 606 on January 1, 2018 using the modified retrospective approach applied to all contracts initiated on or after the effective date, and for contracts which have remaining obligations as of the effective date. Results for the reporting period beginning January 1, 2018 are presented under ASC 606 while the prior period results continue to be reported under legacy GAAP. Adoption of the standard did not have a material effect on any of the reported periods. The Corporation did not record a cumulative effect adjustment to the beginning retained earnings balance as of January 1, 2018 from the adoption of ASC 606 as it was determined the transition adjustment was immaterial to Corporation’s consolidated financial statements. All of the Corporation’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income as presented in our consolidated statements of income. Revenue generating activities that fall within the scope of ASC 606 are described as follows: Investment and Trust Service Fees - these represent fees from wealth management (assets under management), fees from the management an d settlement of estates and commissions from the sale of investment and insurance products. · Asset management fees are generally assessed based on a tiered fee schedule, based on the value of assets under management, and are recognized monthly when the service obligation is completed. Fees recognized were $1.3 million for the first quarters of 2019 and 2018. · Fees for estate management services are based on the estimated fair value of the estate. These fees are generally recognized monthly over an 18 month period that Management has determined to represent the average time to fulfill the performance obligations of the contract. Management has the discretion to adjust this time period as needed based upon the nature and complexity of an individual estate. Fees recognized were $70 thousand for the first quarter of 2019, compared to $61 thousand for the first quarter of 2018. · Commissions from the sale of investment and insurance products are recognized upon the completion of the transaction. Fees recognized were $68 thousand for the first quarters of 2019 and 2018. Loan Service Charges – these represent fees on loans for services or charges that occur after the loan has been booked, for example, late payment fees. These also include fees for mortgages settled for a third party mortgage company. All of these fees are transactional in nature and are recognized upon completion of the transaction which represents the performance obligation. Deposit Service Charges and Fee s – these represent fees from deposit customers for transaction based, account maintenance, and overdraft services. Transaction based fees include, but are not limited to stop payment fees and overdraft fees. These fees are recognized at the time of the transaction when the performance obligation has been fulfilled. Account maintenance fees and account analysis fee are earned over the course of a month, representing the period of the performance obligation, and are recognized monthly. Debit Card Income – this represents interchange fees from cardholder transactions conducted through the card payment network. Cardholders use the debit card to conduct point-of-sale transactions that produce interchange fees. The fees are transaction based and the fee is recognized with the processing of the transaction. These fees are reported net of cardholder rewards. Other Service Charges and Fees – these are comprised primarily of merchant card fees, credit card fees, ATM surcharges and interchange fees and wire transfer fees. Merchant card fees represent fees the Bank earns from a third party for enrolling a customer in the processor’s program. Credit card fees represent a fee earned by the Bank for a successful referral to a card-issuing company. ATM surcharges and interchange fees are the result of Bank customers conducting ATM transactions that generate fee income and are processed through multiple card networks. All of these fees are transaction based and are recognized at the time of the transaction. Gains/Losses on the Sale of Other Real Estate – these are recognized when control of the property transfers to the buyer. Increases in the cash surrender value of life insurance and security transactions are not within the scope of ASC 606. Contract Balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into longer-term revenue contracts with customers, and therefore, does not experience significant contract balances. Contract Acquisition Costs The Corporation expenses all contract acquisition costs as costs are incurred. |
Commitments And Contingencies
Commitments And Contingencies | 3 Months Ended |
Mar. 31, 2019 | |
Commitments And Contingencies [Abstract] | |
Commitments And Contingencies | 1 Note 1 3 . Commitments and Contingencies In the normal course of business, the Bank is a party to financial instruments that are not reflected in the accompanying financial statements and are commonly referred to as off-balance-sheet instruments. These financial instruments are entered into primarily to meet the financing needs of the Bank’s customers and include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk not recognized in the consolidated balance sheet. The Corporation’s exposure to credit loss in the event of nonperformance by other parties to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contract or notional amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as they do for on-balance-sheet instruments. The Bank had the following outstanding commitments for the periods presented: March 31, December 31, (Dollars in thousands) 2019 2018 Financial instruments whose contract amounts represent credit risk Commercial commitments to extend credit $ 231,555 $ 216,913 Consumer commitments to extend credit (secured) 50,950 49,221 Consumer commitments to extend credit (unsecured) 5,506 5,605 $ 288,011 $ 271,739 Standby letters of credit $ 25,306 $ 25,429 Commitments to extend credit are agreements 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 with the exception of home equity lines and personal lines of credit 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, is based on Management’s credit evaluation of the counterparty. Collateral for most commercial commitments varies but may include accounts receivable, inventory, property, plant, and equipment, and income-producing commercial properties. Collateral for secured consumer commitments consists of liens on residential real estate. Standby letters of credit are instruments issued by the Bank, which guarantee the beneficiary payment by the Bank in the event of default by the Bank’s customer in the nonperformance of an obligation or service. Most standby letters of credit are extended for one-year periods. Generally, the credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Bank holds collateral supporting those commitments for which collateral is deemed necessary primarily in the form of certificates of deposit and liens on real estate. Management believes that the proceeds obtained through a liquidation of such collateral would be sufficient to cover the maximum potential amount of future payments required under the corresponding guarantees. As of June 30, 2018, the Bank established a $2.4 million allowance against letters of credit issued in connection with a commercial borrower that declared bankruptcy in the second quarter of 2018 which remains at March 31, 2019. Except for the liability recorded for standby letters of credit, liabilities for credit loss associated with off-balance sheet commitments were not material at March 31, 2019 and December 31, 2018. Most of the Bank’s business activity is with customers located within its primary market and does not involve any significant concentrations of credit to any one entity or industry. Legal Proceedings The nature of the Corporation’s business generates a certain amount of litigation. We establish accruals for legal proceedings when information related to the loss contingencies represented by those matters indicates both that a loss is probably and the amount of the loss can be reasonably estimated. When we are able to do so, we also determine estimates of possible losses, whether in excess of any accrued liability or where there is no accrued liability. These assessments are based on our analysis of currently available information and are subject to significant judgment and a variety of assumptions and uncertainties. As new information is obtained, we may change our assessments and, as a result, take or adjust the amounts of our accruals and change our estimates of possible losses or ranges of possible losses. Due to the inherent subjectivity of the assessments and the unpredictability of outcomes of legal proceedings, any amounts that may be accrued or included in estimates of possible losses or ranges of possible losses may not represent the actual loss to the Corporation from any legal proceeding. Our exposure and ultimate losses may be higher, possibly significantly higher, than amounts we may accrue or amounts we may estimate. In management’s opinion, we do not anticipate, at the present time, that the ultimate aggregate liability, if any, arising out of all litigation to which the Corporat ion is a party at this time will h ave a material adverse effect on our financial position. We cannot now determine, however, whether or not any claim asserted against us will have a material adverse effect on our results of operations in any future reporting period, which will depend on, amount other things, the amount of loss resulting from the claim and the amount of income otherwise reported for the reporting period. Thus, at March 31, 2019, we are unable to provide an evaluation of the likelihood of an unfavorable outcome or an estimate of the amount or range of potential loss with respect to such other matters and, accordingly, have not yet established any specific accrual for such other matters. No material proceedings are pending or are known to be threatened or contemplated against us by governmental authorities. |
Basis Of Presentation (Policy)
Basis Of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2019 | |
Basis Of Presentation [Abstract] | |
Consolidation | The consolidated financial statements include the accounts of Franklin Financial Services Corporation (the Corporation), and its wholly-owned subsidiaries, Farmers and Merchants Trust Company of Chambersburg (the Bank) and Franklin Future Fund Inc. Farmers and Merchants Trust Company of Chambersburg is a commercial bank that has one wholly-owned subsidiary, Franklin Financial Properties Corp. Franklin Financial Properties Corp. holds real estate assets that are leased by the Bank. Franklin Future Fund Inc. is a non-bank investment company. The activities of non-bank entities are not significant to the consolidated totals. All significant intercompany transactions and account balances have been eliminated. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the consolidated financial position, results of operations, and cash flows as of March 31, 2019 , and for all other periods presented have been made. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. It is suggested that these consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s 2018 Annual Report on Form 10-K. The consolidated results of operations for the three month period ended March 31, 2019 are not necessarily indicative of the operating results for the full year. Management has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. The consolidated balance sheet at December 31, 2018 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete consolidated financial statements. For purposes of reporting cash flows, cash and cash equivalents include cash and due from banks, interest-bearing deposits in other banks and federal funds sold. Generally, federal funds are purchased and sold for one-day periods. |
Earnings Per Share | Earnings per share are computed based on the weighted average number of shares outstanding during each period end. A reconciliation of the weighted average shares outstanding used to calculate basic earnings per share and diluted earnings per share follows: For the Three Months Ended March 31, (Dollars and shares in thousands, except per share data) 2019 2018 Weighted average shares outstanding (basic) 4,412 4,359 Impact of common stock equivalents 21 28 Weighted average shares outstanding (diluted) 4,433 4,387 Anti-dilutive options excluded from calculation — — Net income $ 3,237 $ 3,502 Basic earnings per share $ 0.73 $ 0.80 Diluted earnings per share $ 0.73 $ 0.80 |
Basis Of Presentation (Tables)
Basis Of Presentation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Basis Of Presentation [Abstract] | |
Schedule Of Earnings Per Share, Basic And Diluted | For the Three Months Ended March 31, (Dollars and shares in thousands, except per share data) 2019 2018 Weighted average shares outstanding (basic) 4,412 4,359 Impact of common stock equivalents 21 28 Weighted average shares outstanding (diluted) 4,433 4,387 Anti-dilutive options excluded from calculation — — Net income $ 3,237 $ 3,502 Basic earnings per share $ 0.73 $ 0.80 Diluted earnings per share $ 0.73 $ 0.80 |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Standard Description Effective Date Effect on the financial statements or other significant matters ASU 2016-02, Leases (Topic 842) and all subsequently issued amendments In February 2016, the FASB issued ASU 2016-02, "Leases (Subtopic 842)." This ASU requires all lessees to recognize a lease liability and a right-of-use asset, measured at the present value of the future minimum lease payments, at the lease commencement date. Lessor accounting remains largely unchanged under the new guidance. FASB subsequently issued various amendments that provided implementation guidance designed to provide entities with relief from the costs of implementing certain aspects of the new standard. From the lessee's perspective, the new standard requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement for lessees. ASU 2016-02 and all subsequent amendments are effective for fiscal years, including interim periods, beginning after December 15, 2018. Early adoption of ASU 2016-02 is permitted. January 1, 2019 The Corporation adopted ASU 2016-02, "Leases (Topic 842)" and all subsequent amendments on January 1, 2019 using the modified retrospective approach, and it did not have a material effect on its consolidated results of operations. Adoption of the new standard resulted in the recognition of a lease liability and a right-of-use asset of $6.2 million without a cumulative effect adjustment to retained earnings. The Corporation did not restate any prior period results. The Corporation adopted the package of practical expedients offered in ASU 2016-02 and therefore, existing lease classifications were not reassessed, expired or existing contracts were not reassessed for a lease, and the initial direct costs for any existing leases were not reassessed. In addition to the package of practical expedients, the Corporation also utilized other practical expedients offered: (1) the hindsight expedient which allows entities to use hindsight to determine the lease term was not adopted, (2) leases, for all underlying asset classes, with a term less than 12 months and no purchase option were excluded, (3) the option to not separate lease and non-lease components and account for them as a single component was adopted for real estate leases, and (4) the option to not apply lease accounting to existing land easements was adopted. See Note 7 for additional information on the adoption of the new standard. ASU 2018-13, Disclosure Framework (Topic 820) This guidance eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reason for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. January 1, 2019 The Corporation adopted the standard on January 1, 2019 and it did not have a material effect on its consolidated results of operations. ASU 2018-15, Accounting for Implementation Costs in a Cloud Computing Arrangement (Topic 350) This ASU required an entity in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Capitalized implementation costs should be presented in the same line item on the balance sheet as amounts prepaid for the hosted service, if any (generally as an "other asset"). The capitalized costs will be amortized over the term of the hosting arrangement, with the amortization expense being presented in the same income statement line item as the fees paid for the hosted service. The ASU is effective January 1, 2020 with early adoption permitted. January 1, 2020 The Corporation adopted the standard on January 1, 2019 and it did not have a material effect on its consolidated results of operations. ASU 2017-04, Goodwill (Topic 350) This guidance, among other things, removes step 2 of the goodwill impairment test thus eliminating the need to determine the fair value of individual assets and liabilities of the reporting unit. Upon adoption of this standard, goodwill impairment will be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This may result in more or less impairment being recognized than under the current guidance. Early adoption is permitted for any impairment tests performed after January 1, 2017, applied prospectively. January 1, 2020 The Corporation early adopted the ASU in the fourth quarter of 2018 with the completion of the 2018 impairment analysis. The Corporation is still evaluating the effect of the standard on its consolidated financial statements. ASU 2018-14, Disclosure Framework (Topic 715): Changes to the Disclosure Requirements for Defined Benefit Plans This ASU makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020; early adoption is permitted. January 1, 2020 The Corporation will adopt the provisions of the ASU on January 1, 2020. As the ASU only revises disclosure requirements, it is not expected to have a material effect on the consolidated financial statements. ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This standard requires credit losses on most financial assets measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (CECL) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument (considering estimated prepayments, but not expected extensions or modifications unless reasonable expectation of a troubled debt restructuring exists) from the date of initial recognition of that instrument. The ASU replaces the current accounting model for purchased credit impaired loans and debt securities. The allowance for credit losses for purchased financial assets with a more-than insignificant amount of credit deterioration since origination (“PCD assets”), should be determined in a similar manner to other financial assets measured on an amortized cost basis. However, upon initial recognition, the allowance for credit losses is added to the purchase price (“gross up approach”) to determine the initial amortized cost basis. The subsequent accounting for PCD financial assets is the same expected loss model described above. January 1, 2020 We have formed an implementation team led by the Corporation's Risk Management function. The team is reviewing the requirements of the ASU and evaluating methods and models for implementation. The new standard will result in earlier recognition of additions to the allowance for loan losses and possibly a larger allowance for loan loss balance with a corresponding increase in the provision for loan losses in results of operations; however, the Corporation is continuing to evaluate the impact of the pending adoption of the new standard on its consolidated financial statements. A third-party vendor has been selected to assist with the CECL calculations and the implementation process has started. The Corporation expects to be able to run the CECL model in test mode starting in the second quarter of 2019. |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Schedule Of Accumulated Other Comprehensive Loss | March 31, December 31, 2019 2018 (Dollars in thousands) Net unrealized (losses) gains on debt securities $ 290 $ (1,100) Tax effect (61) 230 Net of tax amount 229 (870) Accumulated pension adjustment (6,975) (6,975) Tax effect 1,465 1,465 Net of tax amount (5,510) (5,510) Total accumulated other comprehensive loss $ (5,281) $ (6,380) |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Investments [Abstract] | |
Unrealized Gain (Loss) On Investments | (Dollars in thousands) Gross Gross Amortized unrealized unrealized Fair March 31, 2019 cost gains losses value U.S. Government and Agency securities $ 9,634 $ 24 $ (40) $ 9,618 Municipal securities 63,820 845 (108) 64,557 Trust preferred securities 4,080 — (180) 3,900 Agency mortgage-backed securities 42,818 135 (364) 42,589 Private-label mortgage-backed securities 448 30 — 478 Asset-backed securities 6,791 — (52) 6,739 $ 127,591 $ 1,034 $ (744) $ 127,881 (Dollars in thousands) Gross Gross Amortized unrealized unrealized Fair December 31, 2018 cost gains losses value U.S. Government and Agency securities $ 9,120 $ 21 $ (65) $ 9,076 Municipal securities 67,811 320 (484) 67,647 Trust preferred securities 4,074 — (316) 3,758 Agency mortgage-backed securities 45,241 65 (648) 44,658 Private-label mortgage-backed securities 457 31 — 488 Asset-backed securities 5,869 — (24) 5,845 $ 132,572 $ 437 $ (1,537) $ 131,472 |
Amortized Cost And Fair Value Of Debt Securities, By Contractual Maturity | (Dollars in thousands) Amortized cost Fair value Due in one year or less $ 21,030 $ 21,084 Due after one year through five years 25,764 25,839 Due after five years through ten years 35,173 35,467 Due after ten years 2,358 2,424 84,325 84,814 Mortgage-backed securities 43,266 43,067 $ 127,591 $ 127,881 |
Composition Of Net Realized Securities Gains | For the Three Months Ended March 31, (Dollars in thousands) 2019 2018 Gross gains realized $ 33 $ — Gross losses realized (9) — Net gains realized $ 24 $ — |
Schedule Of Unrealized Loss On Investments | March 31, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities $ — $ — — $ 4,777 $ (40) 14 $ 4,777 $ (40) 14 Municipal securities 238 — 1 12,377 (108) 21 12,615 (108) 22 Trust preferred securities 1,166 (33) 2 2,734 (147) 3 3,900 (180) 5 Agency mortgage-backed securities 895 (1) 4 28,746 (363) 71 29,641 (364) 75 Asset-backed securities 6,721 (51) 7 18 (1) 2 6,739 (52) 9 Total temporarily impaired securities $ 9,020 $ (85) 14 $ 48,652 $ (659) 111 $ 57,672 $ (744) 125 December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities $ 2,071 $ (6) 2 $ 5,175 $ (59) 14 $ 7,246 $ (65) 16 Municipal securities 5,832 (12) 10 25,091 (472) 42 30,923 (484) 52 Trust preferred securities 2,008 (159) 3 1,750 (157) 2 3,758 (316) 5 Agency mortgage-backed securities 7,687 (46) 16 30,511 (602) 74 38,198 (648) 90 Asset-backed securities 5,826 (22) 6 19 (2) 2 5,845 (24) 8 Total temporarily impaired securities $ 23,424 $ (245) 37 $ 62,546 $ (1,292) 134 $ 85,970 $ (1,537) 171 |
Other Than Temporary Impairment, Credit Losses Recognized In Earnings | Three Months Ended (Dollars in thousands) March 31, 2019 2018 Balance of cumulative credit-related OTTI at January 1 $ 272 $ 595 Additions for credit-related OTTI not previously recognized — — Additional increases for credit-related OTTI previously recognized when there is no intent to sell and no requirement to sell before recovery of amortized cost basis — — Decreases for previously recognized credit-related OTTI because there was an intent to sell — — Reduction for increases in cash flows expected to be collected — — Balance of credit-related OTTI at March 31 $ 272 $ 595 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Loans [Abstract] | |
Schedule Of Loans Outstanding | March 31, December 31, (Dollars in thousands) 2019 2018 Residential Real Estate 1-4 Family Consumer first liens $ 89,212 $ 89,673 Commercial first lien 58,210 59,227 Total first liens 147,422 148,900 Consumer junior liens and lines of credit 41,831 42,504 Commercial junior liens and lines of credit 4,859 4,716 Total junior liens and lines of credit 46,690 47,220 Total residential real estate 1-4 family 194,112 196,120 Residential real estate - construction Consumer 2,750 1,667 Commercial 11,231 8,558 Total residential real estate construction 13,981 10,225 Commercial real estate 497,974 487,980 Commercial 269,243 274,054 Total commercial 767,217 762,034 Consumer 5,156 4,996 980,466 973,375 Less: Allowance for loan losses (12,681) (12,415) Net Loans $ 967,785 $ 960,960 Included in the loan balances are the following: Net unamortized deferred loan costs $ 125 $ 123 Loans pledged as collateral for borrowings and commitments from: FHLB $ 787,055 $ 772,564 Federal Reserve Bank 33,645 34,160 $ 820,700 $ 806,724 |
Loan Quality and Allowance fo_2
Loan Quality and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Loan Quality And Allowance for Loan Losses [Abstract] | |
Allowance For Loan Losses, By Loan Segment | The following table presents, by class, the activity in the Allowance for Loan Losses (ALL) for the periods shown: Residential Real Estate 1-4 Family First Junior Liens & Commercial (Dollars in thousands) Liens Lines of Credit Construction Real Estate Commercial Consumer Unallocated Total ALL at December 31, 2018 $ 491 $ 133 $ 108 $ 5,698 $ 4,511 $ 70 $ 1,404 $ 12,415 Charge-offs (33) (1) (3) (63) (61) (26) — (187) Recoveries 1 — — 1 42 10 — 54 Provision 28 — 47 270 70 18 (34) 399 ALL at March 31, 2019 $ 487 $ 132 $ 152 $ 5,906 $ 4,562 $ 72 $ 1,370 $ 12,681 ALL at December 31, 2017 $ 1,060 $ 330 $ 224 $ 6,526 $ 2,110 $ 105 $ 1,437 $ 11,792 Charge-offs - — — — — (26) — (26) Recoveries 1 — — — 8 14 — 23 Provision (18) (10) 36 172 (45) 11 54 200 ALL at March 31, 2018 $ 1,043 $ 320 $ 260 $ 6,698 $ 2,073 $ 104 $ 1,491 $ 11,989 The following table presents, by class, loans that were evaluated for the ALL under the specific reserve (individually) and those that were evaluated under the general reserve (collectively) and the amount of the ALL established in each class as of March 31, 2019 and December 31, 2018 : Residential Real Estate 1-4 Family First Junior Liens & Commercial (Dollars in thousands) Liens Lines of Credit Construction Real Estate Commercial Consumer Unallocated Total March 31, 2019 Loans evaluated for ALL: Individually $ 401 $ — $ 652 $ 13,247 $ — $ — $ — $ 14,300 Collectively 147,021 46,690 13,329 484,727 269,243 5,156 — 966,166 Total $ 147,422 $ 46,690 $ 13,981 $ 497,974 $ 269,243 $ 5,156 $ — $ 980,466 ALL established for loans evaluated: Individually $ — $ — $ — $ — $ — $ — $ — $ — Collectively 487 132 152 5,906 4,562 72 1,370 12,681 ALL at March 31, 2019 $ 487 $ 132 $ 152 $ 5,906 $ 4,562 $ 72 $ 1,370 $ 12,681 December 31, 2018 Loans evaluated for ALL: Individually $ 405 $ — $ 455 $ 10,099 $ 181 $ — $ — $ 11,140 Collectively 148,495 47,220 9,770 477,881 273,873 4,996 — 962,235 Total $ 148,900 $ 47,220 $ 10,225 $ 487,980 $ 274,054 $ 4,996 $ — $ 973,375 ALL established for loans evaluated: Individually $ — $ — $ — $ — $ — $ — $ — $ — Collectively 491 133 108 5,698 4,511 70 1,404 12,415 ALL at December 31, 2018 $ 491 $ 133 $ 108 $ 5,698 $ 4,511 $ 70 $ 1,404 $ 12,415 |
Impaired Financing Receivables | The following table shows additional information about those loans considered to be impaired at March 31, 2019 and December 31, 2018 : Impaired Loans With No Allowance With Allowance (Dollars in thousands) Unpaid Unpaid Recorded Principal Recorded Principal Related March 31, 2019 Investment Balance Investment Balance Allowance Residential Real Estate 1-4 Family First liens $ 889 $ 889 $ — $ — $ — Junior liens and lines of credit 44 44 — — — Total 933 933 — — — Residential real estate - construction 652 729 — — — Commercial real estate 13,446 14,022 — — — Commercial 129 146 — — — Total $ 15,160 $ 15,830 $ — $ — $ — December 31, 2018 Residential Real Estate 1-4 Family First liens $ 871 $ 958 $ — $ — $ — Junior liens and lines of credit 49 49 — — — Total 920 1,007 — — — Residential real estate - construction 455 531 — — — Commercial real estate 10,236 10,808 — — — Commercial 315 9,763 — — — Total $ 11,926 $ 22,109 $ — $ — $ — The following table shows the average of impaired loans and related interest income for the three months ended March 31, 2019 and 2018 : Three Months Ended Three Months Ended March 31, 2019 March 31, 2018 Average Interest Average Interest (Dollars in thousands) Recorded Income Recorded Income Investment Recognized Investment Recognized Residential Real Estate 1-4 Family First liens $ 893 $ 11 $ 805 $ 11 Junior liens and lines of credit 44 — — — Total 937 11 805 11 Residential real estate - construction 653 — 466 — Commercial real estate 13,494 102 10,994 105 Commercial 129 — 185 — Total $ 15,213 $ 113 $ 12,450 $ 116 |
Aging Of Payments Of The Loan Portfolio | (Dollars in thousands) Loans Past Due and Still Accruing Total Current 30-59 Days 60-89 Days 90 Days+ Total Non-Accrual Loans March 31, 2019 Residential Real Estate 1-4 Family First liens $ 146,866 $ 309 $ 30 $ 137 $ 476 $ 80 $ 147,422 Junior liens and lines of credit 46,588 29 29 18 76 26 46,690 Total 193,454 338 59 155 552 106 194,112 Residential real estate - construction 13,329 — — — — 652 13,981 Commercial real estate 491,462 438 1,331 — 1,769 4,743 497,974 Commercial 268,527 273 262 52 587 129 269,243 Consumer 5,135 21 — — 21 — 5,156 Total $ 971,907 $ 1,070 $ 1,652 $ 207 $ 2,929 $ 5,630 $ 980,466 December 31, 2018 Residential Real Estate 1-4 Family First liens $ 148,183 $ 322 $ 202 $ 113 $ 637 $ 80 $ 148,900 Junior liens and lines of credit 47,040 131 — 26 157 23 47,220 Total 195,223 453 202 139 794 103 196,120 Residential real estate - construction 9,572 — 198 — 198 455 10,225 Commercial real estate 481,774 1,343 3,323 113 4,779 1,427 487,980 Commercial 273,534 65 40 100 205 315 274,054 Consumer 4,933 46 12 5 63 — 4,996 Total $ 965,036 $ 1,907 $ 3,775 $ 357 $ 6,039 $ 2,300 $ 973,375 |
Internal Credit Rating For The Loan Portfolio | Pass Special Mention Substandard Doubtful (Dollars in thousands) (1-5) (6) (7) (8) Total March 31, 2019 Residential Real Estate 1-4 Family First liens $ 146,986 $ — $ 436 $ — $ 147,422 Junior liens and lines of credit 46,646 — 44 — 46,690 Total 193,632 — 480 — 194,112 Residential real estate - construction 13,329 — 652 — 13,981 Commercial real estate 490,057 655 7,262 — 497,974 Commercial 268,345 — 898 — 269,243 Consumer 5,156 — — — 5,156 Total $ 970,519 $ 655 $ 9,292 $ — $ 980,466 December 31, 2018 Residential Real Estate 1-4 Family First liens $ 148,453 $ — $ 447 $ — $ 148,900 Junior liens and lines of credit 47,171 — 49 — 47,220 Total 195,624 — 496 — 196,120 Residential real estate - construction 9,572 — 653 — 10,225 Commercial real estate 479,969 660 7,351 — 487,980 Commercial 272,959 — 1,095 — 274,054 Consumer 4,991 — 5 — 4,996 Total $ 963,115 $ 660 $ 9,600 $ — $ 973,375 |
Troubled Debt Restructuring Loans | Troubled Debt Restructurings Within the Last 12 Months That Have Defaulted (Dollars in thousands) Troubled Debt Restructurings On Modified Terms Number of Recorded Number of Recorded Contracts Investment Performing* Nonperforming* Contracts Investment March 31, 2019 Residential real estate - construction 1 $ 454 $ — $ 454 — $ — Residential real estate 4 673 673 — — — Commercial real estate 11 9,982 8,703 1,279 — — Total 16 $ 11,109 $ 9,376 $ 1,733 — $ — December 31, 2018 Residential real estate - construction 1 $ 455 $ — $ 455 — $ — Residential real estate 4 678 678 — — — Commercial real estate 11 10,099 8,809 1,290 — — Total 16 $ 11,232 $ 9,487 $ 1,745 — $ — * The performing status is determined by the loan’s compliance with the modified terms . |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Schedule Of Lease Costs | Three Months Ended (Dollars in thousands) March 31, 2019 Operating lease cost $ 188 Short-term lease cost 6 Variable lease cost 11 Total lease cost $ 205 |
Schedule Of Measurement Of Lease Liabilities | Three Months Ended (Dollars in thousands) March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 123 Weighted-average remaining lease term 13.7 years Weighted-average discount rate 3.54% |
Schedule Of Future Minimum Payments Operating Leases | (Dollars in thousands) 2019 $ 706 2020 664 2021 651 2022 543 2023 539 2024 and beyond 4,790 Total undiscounted cash flows 7,893 Discounted cash flows (1,780) Total lease liability $ 6,113 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Other Real Estate Owned [Abstract] | |
Summary Of Changes In Other Real Estate Owned | Three Months Ended March 31, (Dollars in thousands) 2019 2018 Balance at beginning of the period $ 2,684 $ 2,598 Additions — — Proceeds from dispositions — — Loss on sales, net — — Valuation adjustment — (6) Balance at the end of the period $ 2,684 $ 2,592 |
Pension (Tables)
Pension (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Pension [Abstract] | |
Schedule Of Net Periodic Pension Costs | Three Months Ended March 31, (Dollars in thousands) 2019 2018 Components of net periodic cost: Service cost $ 80 $ 90 Interest cost 158 138 Expected return on plan assets (270) (279) Recognized net actuarial loss 152 176 Net period cost $ 120 $ 125 |
Fair Value Measurements And F_2
Fair Value Measurements And Fair Values Of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract] | |
Fair Value, By Balance Sheet Grouping | March 31, 2019 Carrying Fair (Dollars in thousands) Amount Value Level 1 Level 2 Level 3 Financial assets, carried at cost: Cash and cash equivalents $ 47,033 $ 47,033 $ 47,033 $ — $ — Restricted stock 452 452 — 452 — Loans held for sale 195 195 195 Net loans 967,785 952,024 — — 952,024 Accrued interest receivable 3,963 3,963 — 3,963 — Financial assets, available for sale Debt securities 127,881 127,881 — 127,881 — Financial assets, fair value Equity securities 377 377 377 — — Financial liabilities: Deposits $ 1,076,491 $ 1,076,572 $ — $ 1,076,572 $ — Accrued interest payable 291 291 — 291 — December 31, 2018 Carrying Fair (Dollars in thousands) Amount Value Level 1 Level 2 Level 3 Financial assets, carried at cost: Cash and cash equivalents $ 52,957 $ 52,957 $ 52,957 $ — $ — Restricted stock 452 452 — 452 — Loans held for sale 118 118 — 118 — Net loans 960,960 941,930 — — 941,930 Accrued interest receivable 4,103 4,103 — 4,103 — Financial assets, available for sale Debt securities 131,472 131,472 — 131,472 — Financial assets, fair value Equity securities 374 374 374 — — Financial liabilities: Deposits $ 1,082,629 $ 1,082,425 $ — $ 1,082,425 $ — Accrued interest payable 193 193 — 193 — |
Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis | (Dollars in Thousands Fair Value at March 31, 2019 Asset Description Level 1 Level 2 Level 3 Total Equity securities, at fair value $ 377 $ — $ — $ 377 Available for sale: U.S. Government and Agency securities — 9,618 — 9,618 Municipal securities — 64,557 — 64,557 Trust Preferred Securities — 3,900 — 3,900 Agency mortgage-backed securities — 42,589 — 42,589 Private-label mortgage-backed securities — 478 — 478 Asset-backed securities — 6,739 — 6,739 Total assets $ 377 $ 127,881 $ — $ 128,258 (Dollars in Thousands) Fair Value at December 31, 2018 Asset Description Level 1 Level 2 Level 3 Total Equity securities, at fair value $ 374 $ — $ — $ 374 Available for sale: U.S. Government and Agency securities — 9,076 — 9,076 Municipal securities — 67,647 — 67,647 Trust Preferred Securities — 3,758 — 3,758 Agency mortgage-backed securities — 44,658 — 44,658 Private-label mortgage-backed securities — 488 — 488 Asset-backed securities — 5,845 — 5,845 Total assets $ 374 $ 131,472 $ — $ 131,846 |
Schedule Of Fair Value On A Nonrecurring Basis | (Dollars in Thousands) Fair Value at December 31, 2018 Asset Description Level 1 Level 2 Level 3 Total Other real estate owned (1) $ — $ — $ 71 $ 71 Total assets $ — $ — $ 71 $ 71 (1) Includes assets directly charged-down to fair value during the year-to-date period. |
Capital Ratios (Tables)
Capital Ratios (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Capital Ratios [Abstract] | |
Schedule Of The Total Risk-based, Tier 1 Risk-based And Tier 1 Leverage Requirements | Regulatory Ratios Adequately Well March 31, December 31, Capitalized Capitalized (Dollars in thousands) 2019 2018 Minimum Minimum Common Equity Tier 1 Risk-based Capital Ratio (1) Franklin Financial Services Corporation 13.78% 13.96% 4.500% N/A Farmers & Merchants Trust Company 13.69% 13.80% 4.500% 6.50% Tier 1 Risk-based Capital Ratio (2) Franklin Financial Services Corporation 13.78% 13.96% 6.000% N/A Farmers & Merchants Trust Company 13.69% 13.80% 6.000% 8.00% Total Risk-based Capital Ratio (3) Franklin Financial Services Corporation 15.04% 15.21% 8.000% N/A Farmers & Merchants Trust Company 14.95% 15.06% 8.000% 10.00% Tier 1 Leverage Ratio (4) Franklin Financial Services Corporation 9.88% 9.78% 4.000% N/A Farmers & Merchants Trust Company 9.82% 9.68% 4.000% 5.00% (1) Common equity Tier 1 capital/ total risk-weighted assets (2) Tier 1 capital / total risk-weighted assets (3) Total risk-based capital / total risk-weighted assets, (4) Tier 1 capital / average quarterly assets |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Commitments And Contingencies [Abstract] | |
Outstanding Commitments | March 31, December 31, (Dollars in thousands) 2019 2018 Financial instruments whose contract amounts represent credit risk Commercial commitments to extend credit $ 231,555 $ 216,913 Consumer commitments to extend credit (secured) 50,950 49,221 Consumer commitments to extend credit (unsecured) 5,506 5,605 $ 288,011 $ 271,739 Standby letters of credit $ 25,306 $ 25,429 |
Basis Of Presentation (Details)
Basis Of Presentation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Basis Of Presentation [Abstract] | ||
Weighted average shares outstanding (basic) | 4,412 | 4,359 |
Impact of common stock equivalents | 21 | 28 |
Weighted average shares outstanding (diluted) | 4,433 | 4,387 |
Net income | $ 3,237 | $ 3,502 |
Basic earnings per share | $ 0.73 | $ 0.80 |
Diluted earnings per share | $ 0.73 | $ 0.80 |
Recent Accounting Pronounceme_3
Recent Accounting Pronouncements (Recent Accounting Pronouncements) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2019 | Jan. 01, 2019 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Right-of-use asset | $ 6,099 | ||
Accounting Standards Update 2016-02 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Right-of-use asset | $ 6,200 | ||
Retained Earnings [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Cumulative adjustment for fair value of equity securities | $ 201 | ||
Accumulated Other Comprehensive Loss [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Cumulative adjustment for fair value of equity securities | $ (201) |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Accumulated Other Comprehensive Loss [Abstract] | ||
Net unrealized (losses) gains on debt securities | $ 290 | $ (1,100) |
Tax effect | (61) | 230 |
Net of tax amount | 229 | (870) |
Accumulated pension adjustment | (6,975) | (6,975) |
Tax effect | 1,465 | 1,465 |
Net of tax amount | (5,510) | (5,510) |
Total accumulated other comprehensive loss | $ (5,281) | $ (6,380) |
Investments (Narrative) (Detail
Investments (Narrative) (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019USD ($)security$ / shares | Dec. 31, 2018USD ($)security | |
Investments [Abstract] | ||
Number of temporarily impaired securities | security | 125 | 171 |
Unrealized Losses | $ 744 | $ 1,537 |
Number of investments | security | 125 | |
Equity securities held | security | 1 | |
Securities pledged as collateral | $ 76,700 | 84,600 |
Unrealized Gain (Loss) on Securities | (744) | |
Gross Unrealized Gain (Loss) | 793 | |
Other-than-temporary-impairment charges | 57,700 | |
Repurchased FHLB stock | $ 30 | |
Price Per Share, FHLB Stock | $ / shares | $ 100 | |
Restricted stock | $ 452 | 452 |
Equity securities | $ 377 | $ 374 |
Investments (Unrealized Gain (l
Investments (Unrealized Gain (loss) On Investments) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 127,591 | |
Gross unrealized gains | 1,034 | |
Gross unrealized losses | (744) | |
Available for sale | 127,881 | |
Before Adoption Of ASU 2016-01 [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 132,572 | |
Gross unrealized gains | 437 | |
Gross unrealized losses | (1,537) | |
Available for sale | 131,472 | |
U.S. Government And Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 9,634 | 9,120 |
Gross unrealized gains | 24 | 21 |
Gross unrealized losses | (40) | (65) |
Available for sale | 9,618 | 9,076 |
Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 63,820 | 67,811 |
Gross unrealized gains | 845 | 320 |
Gross unrealized losses | (108) | (484) |
Available for sale | 64,557 | 67,647 |
Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 4,080 | 4,074 |
Gross unrealized losses | (180) | (316) |
Available for sale | 3,900 | 3,758 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 42,818 | 45,241 |
Gross unrealized gains | 135 | 65 |
Gross unrealized losses | (364) | (648) |
Available for sale | 42,589 | 44,658 |
Private-Label Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 448 | 457 |
Gross unrealized gains | 30 | 31 |
Available for sale | 478 | 488 |
Asset-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 6,791 | 5,869 |
Gross unrealized losses | (52) | (24) |
Available for sale | $ 6,739 | $ 5,845 |
Investments (Amortized Cost And
Investments (Amortized Cost And Fair Value Of Debt Securities, By Contractual Maturity) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Investments [Abstract] | ||
Due in one year or less, Amortized cost | $ 21,030 | |
Due after one year through five years, Amortized cost | 25,764 | |
Due after five years through ten years, Amortized cost | 35,173 | |
Due after ten years, Amortized cost | 2,358 | |
Amortized Cost Contractual Maturities Subtotal | 84,325 | |
Mortgage-backed securities, Amortized cost | 43,266 | |
Available-for-sale Securities, Debt Maturities, Amortized cost | 127,591 | |
Due in one year or less, Fair value | 21,084 | |
Due after one year through five years, Fair value | 25,839 | |
Due after five years through ten years, Fair value | 35,467 | |
Due after ten years, Fair value | 2,424 | |
Fair Value Contractual Maturities Subtotal | 84,814 | |
Mortgage-backed securities, Fair value | 43,067 | |
Available-for-sale Securities, Debt Securities, Fair Value | $ 127,881 | $ 131,472 |
Investments (Composition Of Net
Investments (Composition Of Net Realized Securities Gains) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Investments [Abstract] | |
Gross gains realized | $ 33 |
Gross losses realized | (9) |
Net gains realized | $ 24 |
Investments (Schedule Of Unreal
Investments (Schedule Of Unrealized Loss On Investments) (Details) $ in Thousands | Mar. 31, 2019USD ($)security | Dec. 31, 2018USD ($)security |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair Value | $ 9,020 | $ 23,424 |
Less than 12 months: Unrealized Losses | $ (85) | $ (245) |
Less than 12 months: Count | security | 14 | 37 |
12 months or more: Fair Value | $ 48,652 | $ 62,546 |
12 months or more: Unrealized Losses | $ (659) | $ (1,292) |
12 months or more: Count | security | 111 | 134 |
Fair Value | $ 57,672 | $ 85,970 |
Unrealized Losses | $ (744) | $ (1,537) |
Count | security | 125 | 171 |
U.S. Government And Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair Value | $ 2,071 | |
Less than 12 months: Unrealized Losses | $ (6) | |
Less than 12 months: Count | security | 2 | |
12 months or more: Fair Value | $ 4,777 | $ 5,175 |
12 months or more: Unrealized Losses | $ (40) | $ (59) |
12 months or more: Count | security | 14 | 14 |
Fair Value | $ 4,777 | $ 7,246 |
Unrealized Losses | $ (40) | $ (65) |
Count | security | 14 | 16 |
Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair Value | $ 238 | $ 5,832 |
Less than 12 months: Unrealized Losses | $ (12) | |
Less than 12 months: Count | security | 1 | 10 |
12 months or more: Fair Value | $ 12,377 | $ 25,091 |
12 months or more: Unrealized Losses | $ (108) | $ (472) |
12 months or more: Count | security | 21 | 42 |
Fair Value | $ 12,615 | $ 30,923 |
Unrealized Losses | $ (108) | $ (484) |
Count | security | 22 | 52 |
Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair Value | $ 1,166 | $ 2,008 |
Less than 12 months: Unrealized Losses | $ (33) | $ (159) |
Less than 12 months: Count | security | 2 | 3 |
12 months or more: Fair Value | $ 2,734 | $ 1,750 |
12 months or more: Unrealized Losses | $ (147) | $ (157) |
12 months or more: Count | security | 3 | 2 |
Fair Value | $ 3,900 | $ 3,758 |
Unrealized Losses | $ (180) | $ (316) |
Count | security | 5 | 5 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair Value | $ 895 | $ 7,687 |
Less than 12 months: Unrealized Losses | $ (1) | $ (46) |
Less than 12 months: Count | security | 4 | 16 |
12 months or more: Fair Value | $ 28,746 | $ 30,511 |
12 months or more: Unrealized Losses | $ (363) | $ (602) |
12 months or more: Count | security | 71 | 74 |
Fair Value | $ 29,641 | $ 38,198 |
Unrealized Losses | $ (364) | $ (648) |
Count | security | 75 | 90 |
Asset-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair Value | $ 6,721 | $ 5,826 |
Less than 12 months: Unrealized Losses | $ (51) | $ (22) |
Less than 12 months: Count | security | 7 | 6 |
12 months or more: Fair Value | $ 18 | $ 19 |
12 months or more: Unrealized Losses | $ (1) | $ (2) |
12 months or more: Count | security | 2 | 2 |
Fair Value | $ 6,739 | $ 5,845 |
Unrealized Losses | $ (52) | $ (24) |
Count | security | 9 | 8 |
Investments (Other Than Tempora
Investments (Other Than Temporary Impairment, Credit Losses Recognized In Earnings) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Investments [Abstract] | ||
Balance of cumulative credit-related OTTI at January 1 | $ 272 | $ 595 |
Additions for credit-related OTTI not previously recognized | ||
Additional increases for credit-related OTTI previously recognized when there is no intent to sell and no requirement to sell before recovery of amortized cost basis | ||
Decreases for previously recognized credit-related OTTI because there was an intent to sell | ||
Reduction for increases in cash flows expected to be collected | ||
Balance of credit-related OTTI at September 30 | $ 272 | $ 595 |
Loans (Schedule Of Loans Outsta
Loans (Schedule Of Loans Outstanding) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 980,466 | $ 973,375 |
Less: Allowance for loan losses | (12,681) | (12,415) |
Net Loans | 967,785 | 960,960 |
Net unamortized deferred loan costs | 125 | 123 |
Loans pledged as collateral for borrowings and commitments from: FHLB | 787,055 | 772,564 |
Loans pledged as collateral for borrowings and commitments from :Federal Reserve Bank | 33,645 | 34,160 |
Total | 820,700 | 806,724 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 194,112 | 196,120 |
Residential Real Estate - Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 13,981 | 10,225 |
Less: Allowance for loan losses | (152) | (108) |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 497,974 | 487,980 |
Less: Allowance for loan losses | (5,906) | (5,698) |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 269,243 | 274,054 |
Less: Allowance for loan losses | (4,562) | (4,511) |
Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 767,217 | 762,034 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 5,156 | 4,996 |
Less: Allowance for loan losses | (72) | (70) |
Consumer First Liens [Member] | Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 89,212 | 89,673 |
Consumer Junior Liens And Lines Of Credit [Member] | Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 41,831 | 42,504 |
Consumer [Member] | Residential Real Estate - Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 2,750 | 1,667 |
Commercial Junior Liens And Lines Of Credit [Member] | Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 4,859 | 4,716 |
Commercial [Member] | Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 58,210 | 59,227 |
Commercial [Member] | Residential Real Estate - Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 11,231 | 8,558 |
First Liens [Member] | Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 147,422 | 148,900 |
Less: Allowance for loan losses | (487) | (491) |
Junior Lines And Lines Of Credit [Member] | Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 46,690 | $ 47,220 |
Loan Quality and Allowance fo_3
Loan Quality and Allowance for Loan Losses (Allowance For Loan Losses, By Loan Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Beginning Balance | $ 12,415 | $ 11,792 | |
Charge-offs | (187) | (26) | |
Recoveries | 54 | 23 | |
Provision | 399 | 200 | |
Allowance, Ending Balance | 12,681 | 11,989 | |
Loans evaluated for allowance individually | 14,300 | $ 11,140 | |
Loans evaluated for allowance collectively | 966,166 | 962,235 | |
Total Loans | 980,466 | 973,375 | |
Allowance established for loan evaluated collectively | 12,681 | 12,415 | |
Total Allowance | 12,681 | 12,415 | |
Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total Loans | 194,112 | 196,120 | |
Residential Real Estate - Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Beginning Balance | 108 | 224 | |
Charge-offs | (3) | ||
Provision | 47 | 36 | |
Allowance, Ending Balance | 152 | 260 | |
Loans evaluated for allowance individually | 652 | 455 | |
Loans evaluated for allowance collectively | 13,329 | 9,770 | |
Total Loans | 13,981 | 10,225 | |
Allowance established for loan evaluated collectively | 152 | 108 | |
Total Allowance | 152 | 108 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Beginning Balance | 5,698 | 6,526 | |
Charge-offs | (63) | ||
Recoveries | 1 | ||
Provision | 270 | 172 | |
Allowance, Ending Balance | 5,906 | 6,698 | |
Loans evaluated for allowance individually | 13,247 | 10,099 | |
Loans evaluated for allowance collectively | 484,727 | 477,881 | |
Total Loans | 497,974 | 487,980 | |
Allowance established for loan evaluated collectively | 5,906 | 5,698 | |
Total Allowance | 5,906 | 5,698 | |
Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Beginning Balance | 4,511 | 2,110 | |
Charge-offs | (61) | ||
Recoveries | 42 | 8 | |
Provision | 70 | (45) | |
Allowance, Ending Balance | 4,562 | 2,073 | |
Loans evaluated for allowance individually | 181 | ||
Loans evaluated for allowance collectively | 269,243 | 273,873 | |
Total Loans | 269,243 | 274,054 | |
Allowance established for loan evaluated collectively | 4,562 | 4,511 | |
Total Allowance | 4,562 | 4,511 | |
Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Beginning Balance | 70 | 105 | |
Charge-offs | (26) | (26) | |
Recoveries | 10 | 14 | |
Provision | 18 | 11 | |
Allowance, Ending Balance | 72 | 104 | |
Loans evaluated for allowance collectively | 5,156 | 4,996 | |
Total Loans | 5,156 | 4,996 | |
Allowance established for loan evaluated collectively | 72 | 70 | |
Total Allowance | 72 | 70 | |
Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Beginning Balance | 1,404 | 1,437 | |
Provision | (34) | 54 | |
Allowance, Ending Balance | 1,370 | 1,491 | |
Allowance established for loan evaluated collectively | 1,370 | 1,404 | |
Total Allowance | 1,370 | 1,404 | |
First Liens [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Beginning Balance | 491 | 1,060 | |
Charge-offs | (33) | ||
Recoveries | 1 | 1 | |
Provision | 28 | (18) | |
Allowance, Ending Balance | 487 | 1,043 | |
Loans evaluated for allowance individually | 401 | 405 | |
Loans evaluated for allowance collectively | 147,021 | 148,495 | |
Total Loans | 147,422 | 148,900 | |
Allowance established for loan evaluated collectively | 487 | 491 | |
Total Allowance | 487 | 491 | |
Junior Liens & Lines Of Credit [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Beginning Balance | 133 | 330 | |
Charge-offs | (1) | ||
Provision | (10) | ||
Allowance, Ending Balance | 132 | $ 320 | |
Loans evaluated for allowance collectively | 46,690 | 47,220 | |
Total Loans | 46,690 | 47,220 | |
Allowance established for loan evaluated collectively | 132 | 133 | |
Total Allowance | $ 132 | $ 133 |
Loan Quality and Allowance fo_4
Loan Quality and Allowance for Loan Losses (Impaired Financing Receivables) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | $ 15,160 | $ 11,926 | |
Unpaid Principal Balance With No Allowance | 15,830 | 22,109 | |
Average Recorded Investment | 15,213 | $ 12,450 | |
Interest Income Recognized | 113 | 116 | |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 933 | 920 | |
Unpaid Principal Balance With No Allowance | 933 | 1,007 | |
Average Recorded Investment | 937 | 805 | |
Interest Income Recognized | 11 | 11 | |
Residential Real Estate [Member] | First Liens [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 889 | 871 | |
Unpaid Principal Balance With No Allowance | 889 | 958 | |
Average Recorded Investment | 893 | 805 | |
Interest Income Recognized | 11 | 11 | |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 44 | 49 | |
Unpaid Principal Balance With No Allowance | 44 | 49 | |
Average Recorded Investment | 44 | ||
Residential Real Estate - Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 652 | 455 | |
Unpaid Principal Balance With No Allowance | 729 | 531 | |
Average Recorded Investment | 653 | 466 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 13,446 | 10,236 | |
Unpaid Principal Balance With No Allowance | 14,022 | 10,808 | |
Average Recorded Investment | 13,494 | 10,994 | |
Interest Income Recognized | 102 | 105 | |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 129 | 315 | |
Unpaid Principal Balance With No Allowance | 146 | $ 9,763 | |
Average Recorded Investment | $ 129 | $ 185 |
Loan Quality and Allowance fo_5
Loan Quality and Allowance for Loan Losses (Aging Of Payments Of The Loan Portfolio) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 971,907 | $ 965,036 |
Loans Past Due and Still Accruing | 2,929 | 6,039 |
Non-accrual loans | 5,630 | 2,300 |
Total Loans | 980,466 | 973,375 |
30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 1,070 | 1,907 |
60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 1,652 | 3,775 |
90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 207 | 357 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 193,454 | 195,223 |
Loans Past Due and Still Accruing | 552 | 794 |
Non-accrual loans | 106 | 103 |
Total Loans | 194,112 | 196,120 |
Residential Real Estate [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 338 | 453 |
Residential Real Estate [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 59 | 202 |
Residential Real Estate [Member] | 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 155 | 139 |
Residential Real Estate [Member] | First Liens [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 146,866 | 148,183 |
Loans Past Due and Still Accruing | 476 | 637 |
Non-accrual loans | 80 | 80 |
Total Loans | 147,422 | 148,900 |
Residential Real Estate [Member] | First Liens [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 309 | 322 |
Residential Real Estate [Member] | First Liens [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 30 | 202 |
Residential Real Estate [Member] | First Liens [Member] | 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 137 | 113 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 46,588 | 47,040 |
Loans Past Due and Still Accruing | 76 | 157 |
Non-accrual loans | 26 | 23 |
Total Loans | 46,690 | 47,220 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 29 | 131 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 29 | |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 18 | 26 |
Residential Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 13,329 | 9,572 |
Loans Past Due and Still Accruing | 198 | |
Non-accrual loans | 652 | 455 |
Total Loans | 13,981 | 10,225 |
Residential Real Estate - Construction [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 198 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 491,462 | 481,774 |
Loans Past Due and Still Accruing | 1,769 | 4,779 |
Non-accrual loans | 4,743 | 1,427 |
Total Loans | 497,974 | 487,980 |
Commercial Real Estate [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 438 | 1,343 |
Commercial Real Estate [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 1,331 | 3,323 |
Commercial Real Estate [Member] | 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 113 | |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 268,527 | 273,534 |
Loans Past Due and Still Accruing | 587 | 205 |
Non-accrual loans | 129 | 315 |
Total Loans | 269,243 | 274,054 |
Commercial [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 273 | 65 |
Commercial [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 262 | 40 |
Commercial [Member] | 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 52 | 100 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 5,135 | 4,933 |
Loans Past Due and Still Accruing | 21 | 63 |
Total Loans | 5,156 | 4,996 |
Consumer [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | $ 21 | 46 |
Consumer [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 12 | |
Consumer [Member] | 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | $ 5 |
Loan Quality and Allowance fo_6
Loan Quality and Allowance for Loan Losses (Internal Credit Rating For The Loan Portfolio) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 980,466 | $ 973,375 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 970,519 | 963,115 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 655 | 660 |
Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 9,292 | 9,600 |
Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 194,112 | 196,120 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 193,632 | 195,624 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 480 | 496 |
Residential Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Residential Real Estate [Member] | First Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 147,422 | 148,900 |
Residential Real Estate [Member] | First Liens [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 146,986 | 148,453 |
Residential Real Estate [Member] | First Liens [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 436 | 447 |
Residential Real Estate [Member] | First Liens [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 46,690 | 47,220 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 46,646 | 47,171 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 44 | 49 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Residential Real Estate - Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 13,981 | 10,225 |
Residential Real Estate - Construction [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 13,329 | 9,572 |
Residential Real Estate - Construction [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 652 | 653 |
Residential Real Estate - Construction [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 497,974 | 487,980 |
Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 490,057 | 479,969 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 655 | 660 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 7,262 | 7,351 |
Commercial Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 269,243 | 274,054 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 268,345 | 272,959 |
Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 898 | 1,095 |
Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 5,156 | 4,996 |
Consumer [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 5,156 | 4,991 |
Consumer [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 5 | |
Consumer [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount |
Loan Quality and Allowance fo_7
Loan Quality and Allowance for Loan Losses (Troubled Debt Restructuring Loans) (Details) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019USD ($)itemcontract | Mar. 31, 2018item | Dec. 31, 2018USD ($)contract | ||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Number of Contracts | contract | 16 | 16 | ||
Troubled Debt Restructurings: Recorded Investment | $ 11,109 | $ 11,232 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms in the Last Twelve Months: Number of Contracts | contract | ||||
Troubled Debt Restructurings That Have Defaulted on Modified Terms in the Last Twelve Months: Recorded Investment | ||||
New During Period, Number of Contracts | item | 0 | 0 | ||
Performing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 9,376 | 9,487 | |
Nonperforming [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 1,733 | $ 1,745 | |
Residential Real Estate - Construction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Number of Contracts | contract | 1 | 1 | ||
Troubled Debt Restructurings: Recorded Investment | $ 454 | $ 455 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms in the Last Twelve Months: Number of Contracts | contract | ||||
Troubled Debt Restructurings That Have Defaulted on Modified Terms in the Last Twelve Months: Recorded Investment | ||||
Residential Real Estate - Construction [Member] | Nonperforming [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 454 | $ 455 | |
Residential Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Number of Contracts | contract | 4 | 4 | ||
Troubled Debt Restructurings: Recorded Investment | $ 673 | $ 678 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms in the Last Twelve Months: Number of Contracts | contract | ||||
Troubled Debt Restructurings That Have Defaulted on Modified Terms in the Last Twelve Months: Recorded Investment | ||||
Residential Real Estate [Member] | Performing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 673 | $ 678 | |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Number of Contracts | contract | 11 | 11 | ||
Troubled Debt Restructurings: Recorded Investment | $ 9,982 | $ 10,099 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms in the Last Twelve Months: Number of Contracts | contract | ||||
Troubled Debt Restructurings That Have Defaulted on Modified Terms in the Last Twelve Months: Recorded Investment | ||||
Commercial Real Estate [Member] | Performing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | 8,703 | 8,809 | |
Commercial Real Estate [Member] | Nonperforming [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 1,279 | $ 1,290 | |
[1] | The performing status is determined by the loan's compliance with the modified terms. |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 |
Right-of-use asset | $ 6,099 | |
Lease liability | $ 6,113 | |
Related Party [Member] | ||
Lease liability | $ 1,800 | |
Accounting Standards Update 2016-02 [Member] | ||
Right-of-use asset | $ 6,200 |
Leases (Schedule Of Lease Costs
Leases (Schedule Of Lease Costs) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Leases [Abstract] | |
Operating lease cost | $ 188 |
Short-term lease cost | 6 |
Variable lease cost | 11 |
Total lease cost | $ 205 |
Leases (Schedule Of Measurement
Leases (Schedule Of Measurement Of Lease Liabilities) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Leases [Abstract] | |
Operating cash flows from operating leases | $ 123 |
Weighted-average remaining lease term | 13 years 8 months 12 days |
Weighted-average discount rate | 3.54% |
Leases (Schedule Of Future Mini
Leases (Schedule Of Future Minimum Payments Operating Leases) (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Leases [Abstract] | |
2019 | $ 706 |
2020 | 664 |
2021 | 651 |
2022 | 543 |
2023 | 539 |
2024 and beyond | 4,790 |
Total undiscounted cash flows | 7,893 |
Discounted cash flows | (1,780) |
Total lease liability | $ 6,113 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Other Real Estate Owned [Abstract] | ||
Balance at beginning of the period | $ 2,684 | $ 2,598 |
Additions | ||
Proceeds from dispositions | ||
Loss on sales, net | ||
Valuation adjustment | (6) | |
Balance at the end of the period | $ 2,684 | $ 2,592 |
Pension (Narrative) (Details)
Pension (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Pension [Abstract] | |||
Expected pension expense | $ 420 | ||
Pension Contributions | $ 1,000 | ||
Pension expense | $ 120 | $ 125 | $ 500 |
Pension (Schedule Of Net Period
Pension (Schedule Of Net Periodic Pension Costs) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Pension [Abstract] | |||
Service cost | $ 80 | $ 90 | |
Interest cost | 158 | 138 | |
Expected return on plan assets | (270) | (279) | |
Recognized net actuarial loss | 152 | 176 | |
Net period cost | $ 120 | $ 125 | $ 500 |
Fair Value Measurements And F_3
Fair Value Measurements And Fair Values Of Financial Instruments (Narrative) (Details) | Mar. 31, 2019USD ($) |
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract] | |
Total liabilities | $ 0 |
Assets, Level 1 to Level 2 Transfers | 0 |
Liabilities, Level 1 to Level 2 Transfers | $ 0 |
Fair Value Measurements And F_4
Fair Value Measurements And Fair Values Of Financial Instruments (Fair Value, By Balance Sheet Grouping) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities available for sale, at fair value | $ 127,881 | |
Equity securities, at fair value | 377 | $ 374 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 47,033 | 52,957 |
Restricted stock | 452 | 452 |
Loans held for sale | 195 | 118 |
Net loans | 967,785 | 960,960 |
Accrued interest receivable | 3,963 | 4,103 |
Debt securities available for sale, at fair value | 127,881 | 131,472 |
Equity securities, at fair value | 377 | 374 |
Deposits | 1,076,491 | 1,082,629 |
Accrued interest payable | 291 | 193 |
Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 47,033 | 52,957 |
Restricted stock | 452 | 452 |
Loans held for sale | 195 | 118 |
Net loans | 952,024 | 941,930 |
Accrued interest receivable | 3,963 | 4,103 |
Debt securities available for sale, at fair value | 127,881 | 131,472 |
Equity securities, at fair value | 377 | 374 |
Deposits | 1,076,572 | 1,082,425 |
Accrued interest payable | 291 | 193 |
Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 47,033 | 52,957 |
Equity securities, at fair value | 377 | 374 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Restricted stock | 452 | 452 |
Loans held for sale | 195 | 118 |
Accrued interest receivable | 3,963 | 4,103 |
Debt securities available for sale, at fair value | 127,881 | 131,472 |
Deposits | 1,076,572 | 1,082,425 |
Accrued interest payable | 291 | 193 |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net loans | $ 952,024 | 941,930 |
Before Adoption Of ASU 2016-01 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities available for sale, at fair value | $ 131,472 |
Fair Value Measurements And F_5
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities, at fair value | $ 377 | $ 374 |
Available for sale | 127,881 | |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities, at fair value | 377 | |
Total assets | 128,258 | 131,846 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities, at fair value | 377 | 374 |
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities, at fair value | 377 | |
Total assets | 377 | 374 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 127,881 | 131,472 |
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 127,881 | 131,472 |
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 374 | |
Equity Securities [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 374 | |
U.S. Government And Agency Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 9,618 | 9,076 |
U.S. Government And Agency Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 9,618 | 9,076 |
U.S. Government And Agency Securities [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 9,618 | 9,076 |
Municipal Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 64,557 | 67,647 |
Municipal Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 64,557 | 67,647 |
Municipal Securities [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 64,557 | 67,647 |
Trust Preferred Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 3,900 | 3,758 |
Trust Preferred Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 3,900 | 3,758 |
Trust Preferred Securities [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 3,900 | 3,758 |
Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 42,589 | 44,658 |
Agency Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 42,589 | 44,658 |
Agency Mortgage-Backed Securities [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 42,589 | 44,658 |
Private-Label Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 478 | 488 |
Private-Label Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 478 | 488 |
Private-Label Mortgage-Backed Securities [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 478 | 488 |
Asset-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 6,739 | 5,845 |
Asset-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 6,739 | 5,845 |
Asset-Backed Securities [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | $ 6,739 | $ 5,845 |
Fair Value Measurements And F_6
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Fair Value On A Nonrecurring Basis) (Details) $ in Thousands | Dec. 31, 2018USD ($) | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 71 | |
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 71 | |
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 71 | [1] |
Other Real Estate Owned [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 71 | [1] |
Other Real Estate Owned [Member] | Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 71 | [1] |
[1] | Includes assets directly charged-down to fair value during the year-to-date period. |
Fair Value Measurements And F_7
Fair Value Measurements And Fair Values Of Financial Instruments (Fair Value Inputs, Assets, Quantitative Information) (Details) - Other Real Estate Owned [Member] - Level 3 [Member] $ in Thousands | Dec. 31, 2018USD ($) | [1] |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 71 | |
Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Quantitative Information Percentage | 8.00% | |
[1] | Includes assets directly charged-down to fair value during the year-to-date period. |
Capital Ratios (Narrative) (Det
Capital Ratios (Narrative) (Details) | 3 Months Ended | ||||
Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||
Total Risk-based Capital Ratio: Ratio | 14.95% | ||||
Capital Ratios, Basel III, Capital Conservation Buffer | 1.25% | 0.625% | |||
Capital Ratios, Basel III, Capital Conservation Buffer, Year Two | 1.875% | ||||
Capital Ratios, Basel III, Capital Conservation Buffer, Year Three | 2.50% | ||||
Farmers & Merchants Trust Company [Member] | |||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||
Common Equity Tier 1 Risk-based Capital Ratio: Ratio | [1] | 13.69% | 13.80% | ||
Tier One Leverage Capital to Average Assets | [2] | 9.82% | 9.68% | ||
Common Equity Tier 1 Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | [1] | 6.50% | |||
Tier 1 Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | 8.00% | [3] | 6.00% | ||
Tier 1 Leverage Ratio: Well Capitalized Minimum: Ratio | [2] | 5.00% | |||
Total Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | [4] | 10.00% | |||
Capital ratios, capital conservation buffer | 6.95% | ||||
Total Risk-based Capital Ratio: Ratio | [4] | 14.95% | 15.06% | ||
[1] | Common equity Tier 1 capital/ total risk-weighted assets | ||||
[2] | Tier 1 capital / average quarterly assets | ||||
[3] | Tier 1 capital / total risk-weighted assets | ||||
[4] | Total risk-based capital / total risk-weighted assets |
Capital Ratios (Schedule Of The
Capital Ratios (Schedule Of The Total Risk-based, Tier 1 Risk-based And Tier 1 Leverage Requirements) (Details) | Mar. 31, 2019 | Dec. 31, 2018 | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Total Risk-based Capital Ratio: Ratio | 14.95% | |||
Franklin Financial Services Corporation 2 [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common Equity Tier 1 Risk-based Capital Ratio: Ratio | [1] | 13.78% | 13.96% | |
Common Equity Tier 1 Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [1] | 4.50% | ||
Tier 1 Risk-based Capital Ratio: Ratio | [2] | 13.78% | 13.96% | |
Tier 1 Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [2] | 6.00% | ||
Total Risk-based Capital Ratio: Ratio | [3] | 15.04% | 15.21% | |
Total Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [3] | 8.00% | ||
Tier 1 Leverage Ratio: Ratio | [4] | 9.88% | 9.78% | |
Tier 1 Leverage Ratio: Adequately Capitalized Minimum: Ratio | [4] | 4.00% | ||
Farmers & Merchants Trust Company [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common Equity Tier 1 Risk-based Capital Ratio: Ratio | [1] | 13.69% | 13.80% | |
Common Equity Tier 1 Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [1] | 4.50% | ||
Common Equity Tier 1 Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | [1] | 6.50% | ||
Tier 1 Risk-based Capital Ratio: Ratio | [2] | 13.69% | 13.80% | |
Tier 1 Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [2] | 6.00% | ||
Tier 1 Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | 8.00% | [2] | 6.00% | |
Total Risk-based Capital Ratio: Ratio | [3] | 14.95% | 15.06% | |
Total Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [3] | 8.00% | ||
Total Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | [3] | 10.00% | ||
Tier 1 Leverage Ratio: Ratio | [4] | 9.82% | 9.68% | |
Tier 1 Leverage Ratio: Adequately Capitalized Minimum: Ratio | [4] | 4.00% | ||
Tier 1 Leverage Ratio: Well Capitalized Minimum: Ratio | [4] | 5.00% | ||
[1] | Common equity Tier 1 capital/ total risk-weighted assets | |||
[2] | Tier 1 capital / total risk-weighted assets | |||
[3] | Total risk-based capital / total risk-weighted assets | |||
[4] | Tier 1 capital / average quarterly assets |
Revenue Recognition (Details)
Revenue Recognition (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disaggregation of Revenue [Line Items] | ||
Investment and trust services fees | $ 1,452 | $ 1,397 |
Estate management services Fees recognition period | 18 months | |
Asset Management Fees [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Investment and trust services fees | $ 1,300 | 1,300 |
Estate Management Services Fees [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Investment and trust services fees | 70 | 61 |
Commisions [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Investment and trust services fees | $ 68 | $ 68 |
Commitments And Contingencies_2
Commitments And Contingencies (Narrative) (Details) $ in Millions | Jun. 30, 2018USD ($) |
Commitments And Contingencies [Abstract] | |
Allowance against letters of credit | $ 2.4 |
Commitments And Contingencies_3
Commitments And Contingencies (Outstanding Commitments ) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Commercial Commitments To Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments outstanding | $ 231,555 | $ 216,913 |
Consumer Commitments To Extend Credit (Secured) [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments outstanding | 50,950 | 49,221 |
Consumer Commitments To Extend Credit (Unsecured) [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments outstanding | 5,506 | 5,605 |
Commitments To Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments outstanding | 288,011 | 271,739 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments outstanding | $ 25,306 | $ 25,429 |