Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 07, 2018 | |
Document and Entity Information | ||
Entity Registrant Name | BAR HARBOR BANKSHARES | |
Entity Central Index Key | 743,367 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 15,486,087 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 35,088 | $ 34,262 |
Interest-bearing deposit with the Federal Reserve Bank | 12,725 | 56,423 |
Total cash and cash equivalents | 47,813 | 90,685 |
Securities available for sale, at fair value | 718,559 | 717,242 |
Federal Home Loan Bank stock | 38,105 | 38,105 |
Total securities | 756,664 | 755,347 |
Commercial real estate | 824,721 | 826,746 |
Commercial and industrial | 387,205 | 379,423 |
Residential real estate | 1,132,977 | 1,155,682 |
Consumer | 119,516 | 123,762 |
Total loans | 2,464,419 | 2,485,613 |
Less: Allowance for loan losses | (12,679) | (12,325) |
Net loans | 2,451,740 | 2,473,288 |
Premises and equipment, net | 48,464 | 47,708 |
Other real estate owned | 216 | 122 |
Goodwill | 100,085 | 100,085 |
Other intangible assets | 8,152 | 8,383 |
Cash surrender value of bank-owned life insurance | 58,433 | 57,997 |
Deferred tax assets, net | 9,627 | 7,180 |
Other assets | 29,793 | 24,389 |
Total assets | 3,510,987 | 3,565,184 |
Liabilities | ||
Demand and other non-interest bearing deposits | 342,192 | 349,055 |
NOW deposits | 448,992 | 466,610 |
Savings deposits | 361,591 | 364,799 |
Money market deposits | 303,777 | 305,275 |
Time deposits | 884,848 | 866,346 |
Total deposits | 2,341,400 | 2,352,085 |
Senior borrowings | 742,198 | 786,688 |
Subordinated borrowings | 43,018 | 43,033 |
Total borrowings | 785,216 | 829,721 |
Other liabilities | 32,214 | 28,737 |
Total liabilities | 3,158,830 | 3,210,543 |
Shareholders’ equity | ||
Capital stock, par value $2.00; authorized 20,000,000 shares; issued 16,428,388 and 16,428,388 shares at March 31, 2018 and December 31, 2017, respectively | 32,857 | 32,857 |
Additional paid-in capital | 186,969 | 186,702 |
Retained earnings | 150,701 | 144,977 |
Accumulated other comprehensive loss | (13,156) | (4,554) |
Less: cost of 969,352 and 985,532 shares of treasury stock at March 31, 2018 and December 31, 2017, respectively | (5,214) | (5,341) |
Total shareholders’ equity | 352,157 | 354,641 |
Total liabilities and shareholders’ equity | $ 3,510,987 | $ 3,565,184 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 2 | $ 2 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 16,428,388 | 16,428,388 |
Treasury stock (in shares) | 969,352 | 985,532 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest and dividend income | ||
Loans | $ 25,126 | $ 21,194 |
Securities and other | 5,651 | 4,991 |
Total interest and dividend income | 30,777 | 26,185 |
Interest expense | ||
Deposits | 3,985 | 2,210 |
Borrowings | 3,634 | 2,603 |
Total interest expense | 7,619 | 4,813 |
Net interest income | 23,158 | 21,372 |
Provision for loan losses | 795 | 795 |
Net interest income after provision for loan losses | 22,363 | 20,577 |
Non-interest income | ||
Trust and investment management fee income | 2,962 | 2,864 |
Insurance brokerage service income | 0 | 364 |
Customer service fees | 2,224 | 1,773 |
Bank-owned life insurance income | 446 | 399 |
Other income | 606 | 546 |
Total non-interest income | 6,238 | 5,946 |
Non-interest expense | ||
Salaries and employee benefits | 10,989 | 10,321 |
Occupancy and equipment | 3,073 | 2,666 |
Loss on premises and equipment, net | 0 | 95 |
Outside services | 560 | 597 |
Professional services | 433 | 440 |
Communication | 180 | 368 |
Amortization of intangible assets | 207 | 180 |
Acquisition, conversion and other expenses | 335 | 3,112 |
Other expenses | 3,075 | 3,052 |
Total non-interest expense | 18,852 | 20,831 |
Income before income taxes | 9,749 | 5,692 |
Income tax expense | 1,937 | 1,481 |
Net income | $ 7,812 | $ 4,211 |
Earnings per share: | ||
Basic (in dollars per share) | $ 0.51 | $ 0.29 |
Diluted (in dollars per share) | $ 0.50 | $ 0.29 |
Weighted average common shares outstanding: | ||
Basic (in shares) | 15,448,338 | 14,471,147 |
Diluted (in shares) | 15,552,969 | 14,591,273 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 7,812 | $ 4,211 |
Other comprehensive income (loss), before tax: | ||
Changes in unrealized loss on securities available-for-sale | (10,702) | 1,095 |
Changes in unrealized loss on derivative hedges | 654 | (338) |
Changes in unrealized loss on pension | 41 | 34 |
Income taxes related to other comprehensive income (loss): | ||
Changes in unrealized loss on securities available-for-sale | 2,550 | (327) |
Changes in unrealized loss on derivative hedges | (155) | 198 |
Changes in unrealized loss on pension | (10) | 2 |
Total other comprehensive (loss) income | (7,622) | 664 |
Total comprehensive income | $ 190 | $ 4,875 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common stock amount | Additional paid-in capital | Retained earnings | Accumulated other comprehensive income | Treasury stock |
Balance at beginning of period at Dec. 31, 2016 | $ 156,740 | $ 13,577 | $ 23,027 | $ 130,489 | $ (4,326) | $ (6,027) |
Comprehensive income: | ||||||
Net income | 4,211 | 4,211 | ||||
Other comprehensive income (loss) | 664 | 664 | ||||
Total comprehensive income | 4,875 | 4,211 | 664 | |||
Cash dividends declared | (2,870) | (2,870) | ||||
Acquisition of Lake Sunapee Bank Group | 181,919 | 8,328 | 173,591 | |||
Net issuance to employee stock plans, including related tax effects | 329 | 130 | 0 | 199 | ||
Three-for-two stock split | (16) | 10,952 | (10,952) | (16) | ||
Recognition of stock based compensation | 71 | 71 | ||||
Balance at end of period at Mar. 31, 2017 | 341,048 | 32,857 | 185,867 | 131,814 | (3,662) | (5,828) |
Comprehensive income: | ||||||
Modified retrospective basis adoption of Revenue Recognition Accounting Codification Standard 606 | Accounting Standards Update 2014-09 | (184) | (184) | ||||
Balance at beginning of period at Dec. 31, 2017 | 354,641 | 32,857 | 186,702 | 144,977 | (4,554) | (5,341) |
Comprehensive income: | ||||||
Net income | 7,812 | 7,812 | ||||
Other comprehensive income (loss) | (7,622) | (7,622) | ||||
Total comprehensive income | 190 | 7,812 | (7,622) | |||
Cash dividends declared | (2,884) | (2,884) | ||||
Net issuance to employee stock plans, including related tax effects | 15 | (112) | 127 | |||
Reclassification of the income tax effects of the Tax Cuts and Jobs Act from accumulated other comprehensive income for adoption of ASU 2018-02 | (980) | 980 | (980) | |||
Recognition of stock based compensation | 379 | 379 | ||||
Balance at end of period at Mar. 31, 2018 | $ 352,157 | $ 32,857 | $ 186,969 | $ 150,701 | $ (13,156) | $ (5,214) |
CONSOLIDATED STATEMENTS OF CHA7
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) | 3 Months Ended | |
Mar. 31, 2018$ / sharesshares | Mar. 31, 2017$ / sharesshares | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends declared (in dollars per share) | $ / shares | $ 0.56 | $ 0.19 |
Net shares issued to employee stock plans (in shares) | shares | 16,180 | 23,288 |
Stock split conversion ratio | 1.5 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 7,812 | $ 4,211 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 795 | 795 |
Net amortization of securities | 1,059 | 1,235 |
Deferred tax benefit | 0 | (237) |
Change in unamortized net loan costs and premiums | 368 | (29) |
Premises and equipment depreciation and amortization expense | 841 | 838 |
Stock-based compensation expense | 379 | 71 |
Accretion of purchase accounting entries, net | (704) | (606) |
Amortization of other intangibles | 207 | 180 |
Income from cash surrender value of bank-owned life insurance policies | (446) | (399) |
Loss on premises and equipment, net | 0 | 95 |
Net change in other | (1,444) | (5,152) |
Net cash provided by operating activities | 8,867 | 1,002 |
Cash flows from investing activities: | ||
Proceeds from maturities, calls and prepayments of securities available for sale | 23,350 | 30,208 |
Purchases of securities available for sale | (36,428) | (81,574) |
Net change in loans | 21,033 | (16,388) |
Purchase of loans | 0 | (18,621) |
Purchase of Federal Home Loan Bank stock | 0 | (5,624) |
Purchase of premises and equipment, net | (1,595) | (1,652) |
Acquisitions, net of cash (paid) acquired | 0 | 39,537 |
Proceeds from sale of other real estate | 0 | 81 |
Net cash provided by/(used in) investing activities | 6,360 | (54,033) |
Cash flows from financing activities: | ||
Net decrease in deposits | (10,740) | (26,495) |
Net change in short-term advances from the Federal Home Loan Bank | (50,511) | 141,555 |
Net change in long term advances from the Federal Home Loan Bank | 6,021 | (18,513) |
Net change in securities sold repurchase agreements | 0 | (7,372) |
Exercise of stock options | 15 | 313 |
Common stock cash dividends paid | (2,884) | (2,870) |
Net cash (used in)/provided by financing activities | (58,099) | 86,618 |
Net change in cash and cash equivalents | (42,872) | 33,587 |
Cash and cash equivalents at beginning of year | 90,685 | 8,439 |
Cash and cash equivalents at end of year | 47,813 | 42,026 |
Supplemental cash flow information: | ||
Interest paid | 7,740 | 4,795 |
Income taxes paid, net | 45 | 296 |
Acquisition of non-cash assets and liabilities: | ||
Assets acquired | 0 | 1,454,076 |
Liabilities assumed | 0 | 1,406,672 |
Other non-cash changes: | ||
Real estate owned acquired in settlement of loans | $ 94 | $ 32 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | BASIS OF PRESENTATION The consolidated financial statements (the “financial statements”) of Bar Harbor Bankshares and its subsidiaries (the “Company” or “Bar Harbor”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Bar Harbor Bankshares is a Maine Financial Institution Holding Company for the purposes of the laws of the state of Maine, and as such is subject to the jurisdiction of the Superintendent of the Maine Bureau of Financial Institutions. These financial statements include the accounts of the Company, its wholly-owned subsidiary Bar Harbor Bank & Trust (the "Bank") and the Bank’s consolidated subsidiaries. The results of operations of companies or assets acquired are included only from the dates of acquisition. All material wholly-owned and majority-owned subsidiaries are consolidated unless GAAP requires otherwise. In addition, these interim financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X, and accordingly, certain information and footnote disclosures normally included in financial statements prepared according to GAAP have been omitted. The results for any interim period are not necessarily indicative of results for the full year. These consolidated financial statements should be read in conjunction with the audited financial statements and note disclosures for the Company's Annual Report on Form 10-K for the year ended December 31, 2017 previously filed with the Securities and Exchange Commission (the "SEC"). In management's opinion, all adjustments necessary for a fair statement are reflected in the interim periods presented. Reclassifications: Whenever necessary, amounts in the prior years’ financial statements are reclassified to conform to current presentation. The reclassifications had no impact on net income in the Company’s consolidated income statement. Tax Cuts and Jobs Act Public law No. 115-97, known as the Tax Cuts and Jobs Act (the "Tax Act"), enacted on December 22, 2017, reduced the U.S. federal corporate tax rate from 35% to 21% effective January 1, 2018. Also on December 22, 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin No. 118 ("SAB 118"), which provides guidance on accounting for tax effects of the Tax Act. SAB 118 provides a measurement period of up to one year from the enactment date to complete the accounting. Any adjustments during this measurement period will be included in net earnings from continuing operations as an adjustment to income tax expense in the reporting period when such adjustments are determined. Based on the information available and current interpretation of the rules, the Company estimated the impact of the reduction in the corporate tax rate and remeasurement of certain deferred tax assets and liabilities. The provisional amount recorded in the fourth quarter of 2017 related to the remeasurement of the Company's deferred tax balance resulted in additional income tax expense of $4.0 million . The final impact of the Tax Act may differ from these estimates as a result of changes in management's interpretations and assumptions, as well as new guidance issued by the Internal Revenue Service. Recent Accounting Pronouncements The following table provides a brief description of recent accounting standards updates (ASU") that could have a material impact to the Company’s consolidated financial statements upon adoption: Standard Description Required Date of Adoption Effect on financial statements Standards Adopted in 2018 ASU 2014-09, Revenue from Contracts with Customers This ASU supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry topics of the Codification. The core principle of the ASU is an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU may be adopted either retrospectively or on a modified retrospective basis. January 1, 2018 The Company adopted this ASU as of January 1, 2018, upon completion of an analysis to identify all revenue streams within the scope of this accounting guidance. After reviewing the related contracts as prescribed by the five steps within this ASU, one contract resulted in recognition of a $241,000 liability with a $184,000 impact to retained earnings net of tax. The remaining changes had no material impact on the consolidated financial statements. See below for more detail and transitional disclosures. ASU 2015-14, Deferral of the Effective Date ASU 2016-08, Principal versus Agent Considerations ASU 2016-10, Identifying Performance Obligations and Licensing ASU 2016-12, Narrow-Scope Improvements and Practical Expedience ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers ASU 2016-01, Recognition and Measurement of Financial Assets and Liabilities This ASU amends ASC Topic 825, Financial Instruments-Overall, and addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Among other minor amendments applicable to the Company, the main provisions require investments in equity securities to be measured at fair value with changes in fair value recognized through net income unless they qualify for a practicability exception (excludes investments accounted for under the equity method of accounting or those that result in consolidation of the investee). Except for disclosure requirements that will be adopted prospectively, the ASU must be adopted on a modified retrospective basis. January 1, 2018 The Company adopted this ASU as of January 1, 2018, although it did not have any equity securities that would be in scope of this ASU. However, the Company is subject to the exit notion pricing required in fair value disclosures and after calculating the fair value, the Company had no material impact to its consolidated financial statements. ASU-2018-03, Technical Corrections and Improvements to Financial Instruments ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments This ASU amends Topic 230, Statement of Cash Flows, and provides clarification with respect to classification within the statement of cash flows where current guidance is unclear or silent. The ASU should be adopted retrospectively. If it is impractical to apply the guidance retrospectively for an issue, the amendments related to the issue would be applied prospectively. January 1, 2018 The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. ASU 2017-07, Compensation- Retirement Benefits This ASU amends Topic 715, Retirement Benefits, and provides more prescriptive guidance around the presentation of net period pension and postretirement benefit cost in the income statement. The amendment requires the service cost component be disaggregated from other components of net periodic benefit cost in the income statement. January 1, 2018 The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. Early adoption is permitted. Standard Description Required Date of Adoption Effect on financial statements Standards Adopted in 2018 (continued) ASU 2017-09, Stock Compensation: Scope of Modification Accounting This ASU amends Topic 718, Compensation- Stock Compensation, and clarifies when modification accounting should be applied to changes in terms or conditions of share-based payment awards. The amendments narrow the scope of modification accounting by clarifying that modification accounting should be applied to awards if the change affects the fair value, vesting conditions, or classification of the award. The amendments do not impact current disclosure requirements for modifications, regardless of whether modification accounting is required under the new guidance. January 1, 2018 The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income The ASU amends Topic 220, Income Statement-Reporting Comprehensive Income, and is intended to help organizations reclassify certain stranded income tax effects in accumulated other comprehensive income resulting from the recently enacted Tax Reform. The guidance allows entities to reclassify stranded tax effects in accumulated other comprehensive income to retained earnings. January 1, 2019 The Company adopted this ASU as of March 31, 2018. The effect of the reclassification resulted in an increase to retained earnings and a decrease to accumulated other comprehensive income of $980,000 with zero net effect on total stockholders' equity. ASU 2018-05, Income Taxes (Topic 740) SEC Amendments Early adoption is permitted. Standard Description Required Date of Adoption Effect on financial statements Standards Not Yet Adopted ASU 2016-02, Leases This ASU creates ASU Topic 842, Leases, and supersedes Topic 840, Leases. The new guidance requires lessees to record a right-of-use asset and a corresponding liability equal to the present value of future rental payments on their balance sheets for all leases with a term greater than one year. There are not significant changes to lessor accounting; however, there are certain improvements made to align lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. This guidance expands both quantitative and qualitative required disclosures. This ASU should be adopted on a modified retrospective basis. January 1, 2019 The Company is currently evaluating its operating lease arrangement under this ASU. Early indications suggest the Company will need to recognize right-of-use assets and lease liabilities for most of its operating lease commitments. ASU 2018-01, Leases (Topic 842) Land Easement Practical Expedient for Transition to Topic 842 Standard Description Required Date of Adoption Effect on financial statements Standards Not Yet Adopted (continued) ASU 2016-13, Measurement of Credit Losses on Financial Instruments This ASU amends Topic 326, Financial Instruments- Credit Losses to replace the current incurred loss accounting model with a current expected credit loss approach (CECL) for financial instruments measured at amortized cost and other commitments to extend credit. The amendments require entities to consider all available relevant information when estimating current expected credit losses, including details about past events, current conditions, and reasonable and supportable forecasts. The resulting allowance for credit losses is to reflect the portion of the amortized cost basis that the entity does not expect to collect. The amendments also eliminate the current accounting model for purchased credit impaired loans and debt securities. Additional quantitative and qualitative disclosures are required upon adoption. January 1, 2020 Adoption of this ASU is expected to primarily change how the Company estimates credit losses with the application of the expected credit loss model. In addition, the Company expects the ASU to change the presentation of credit losses for AFS debt securities through an allowance method rather than as a direct write-off. The Company is in the process of evaluating loan loss estimation models to comply with the guidance under this ASU, which may result in a higher credit loss estimate. While the CECL model does not apply to available for sale debt securities, the ASU does require entities to record an allowance when recognizing credit losses for AFS securities, rather than reduce the amortized cost of the securities by direct write-offs. The ASU should be adopted on a modified retrospective basis. Entities that have loans accounted for under ASC 310-30 at the time of adoption should prospectively apply the guidance in this amendment for purchase credit deteriorated assets. ASU 2017-04, Simplifying the Test for Goodwill Impairment This ASU amends Topic 350, Intangibles-Goodwill and Other, and eliminates Step 2 from the goodwill impairment test. January 1, 2020 Adoption of this ASU is not expected to have a material impact on the Company's consolidated financial statements. Early adoption is permitted. ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities This ASU amends ASC 815, Derivatives and Hedging to (1) improve the transparency and understandability of information conveyed to financial statement users about an entity's risk management activities by better aligning the entity's financial reporting for hedging relationships with those risk management activities and (2) reduce the complexity of and simplify the application of hedge accounting by preparers. January 1, 2019 Adoption of this ASU is not expected to have a material impact on the Company's consolidated financial statements. TRANSITIONAL DISCLOSURES FOR RECENTLY ADOPTED ACCOUNTING PROUNOUNCEMENTS Adoption of "ASC 606", Revenue from Contracts with Customers The Company completed its overall assessment of revenue streams and review of related contracts potentially affected by the adoption, including trust and investment management fees, financial services fees, interchange fees, customer deposit fees, and other customer service fees. Based on this assessment, the Company concluded that Accounting Standards Codification ("ASC") 606 did not materially change the method in which the Company currently recognizes revenue for these revenue streams. The Company also completed its evaluation of certain costs related to these revenue streams to determine whether such costs should be presented as expenses or contra-revenue (i.e., gross vs. net). Based on its evaluation, the Company determined the classification of certain debit and credit card related costs should change (i.e., costs previously recorded as expense is now recorded as contra-revenue, and vice versa). These classification changes resulted in immaterial changes to both revenue and expense. These changes did not have a material effect to non-interest income or expense. Additionally, the Company reviewed deferred revenue from benefits received under various incentive contracts. The Company noted one contract was significantly impacted by the adoption, which the related financial impact and details are reflected in the tables below. The Company adopted ASC 606 on January 1, 2018, using the modified retrospective method for all contracts not completed as of the date of adoption. For contracts that were modified before the effective date, the Company reflected the aggregate effect of all modifications when identifying performance obligations and allocating transaction price in accordance with practical expedient in paragraph ASC 606-10-65-1-(f)-(3), which did not have a material effect on the cumulative impact of adopting ASC 606. The reported results for 2018 reflect the application of ASC 606 guidance while the reported results for 2017 were prepared under the guidance of ASC 605, Revenue Recognition (ASC 605). The adoption effected the Company's accounting for deferred revenue related to an upfront incentive received in connection with a co-branding agreement. The incentive, which was previously amortized over the life of the contract is now constrained by a termination penalty based on future customer transaction volume. As a result, the remaining deferred liability was re-established to its original value, which increased deferred tax assets by $57 thousand and reduced retained earnings by $184 thousand . Operating results during the first quarter were not effected. Financial Statement Impact The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption were as follows: (in thousands) Balance at December 31, 2017 Adjustments due to Topic 606 Balance at January 1, 2018 Balance Sheet Other Assets $ 24,389 $ 57 $ 24,446 Other Liabilities 28,737 241 28,978 Retained Earnings 144,977 (184 ) 144,793 The impact of the adoption on our consolidated March 31, 2018 balance sheet was as follows: (in thousands) As Reported Balances Without Adoption of ASC 606 Effect of Change Higher / (Lower) Balance Sheet Other Assets $ 29,793 $ 29,736 $ 57 Other Liabilities 32,214 28,694 254 Retained Earnings 150,701 150,885 (184 ) Disaggregation of Revenue The following table disaggregates the Company’s revenue by major business line and timing of transfer of products or services: Three Months Ended March 31, (in thousands) 2018 Major Products/Service Lines Trust management fees $ 2,741 Financial services fees 221 Interchange fees 1,024 Customer deposit fees 979 Other customer service fees 221 Total $ 5,186 Three Months Ended March 31, (in thousands) 2018 Timing of Revenue Recognition Products and services transferred at a point in time $ 2,351 Products and services transferred over time 2,835 Total $ 5,186 Trust Management Fees The trust management business generates revenue through a range of fiduciary services including trust and estate administration, wealth advisory, and investment management to individuals, businesses, not-for-profit organizations, and municipalities. Revenue from these services are generally recognized over time and is typically based on a time elapsed measure of progress. Certain fees, such as bill paying fees, distribution fees, real estate sale fees, and supplemental tax service fees, are recorded as revenue at a point in time upon the completion of the service. Financial Services Fees Bar Harbor Financial Services is a branch office of Infinex, an independent registered broker dealer offering securities and insurance products not affiliated with the Company or its subsidiaries. The Company has a revenue sharing agreement with Infinex for any financial service fee income generated. Financial services fees are recognized at a point in time upon the completion of monthly service requirements. Interchange Fees The Company earns interchange fees from transaction fees that merchants pay whenever a customer uses a debit card to make a purchase from their store. The fees are paid to the card-issuing bank to cover handling costs, fraud, bad debt costs and the risk involved in approving the payment. Interchange fees are generally recognized as revenue at a point in time upon the completion of a debit card transaction. Customer Deposit Fees The Customer Deposit business offers a variety of deposit accounts with a range of interest rates, fee schedules and other terms, which are designed to meet the customer's financial needs. Additional depositor related services provided to customers include ATM, bank-by-phone, internet banking, internet bill pay, mobile banking, and other cash management services which include remote deposit capture, ACH origination, and wire transfers. These customer deposit fees are generally recognized by the Company at a point in time upon the completion of the service. Other Customer Service Fees The Company has certain incentive and referral fee arrangements with independent third parties in which fees are earned for new account activity, product sales, or transaction volume generated for the respective third parties. The Company also earns a percentage of the fees generated from third party credit card plans promoted through the Bank. Revenue from these incentive and referral fee arrangements are recognized over time using the right to invoice measure of progress. Transaction Price Allocated to Future Performance Obligations ASC 606 requires the Company to disclose the aggregate amount of transaction price allocated to performance obligations that have not yet been satisfied as of March 31, 2018. The guidance provides certain practical expedients which limit this requirement and, therefore, the Company does not disclose the value of unsatisfied performance obligations for: (1) contracts with an original expected length of one year or less, (2) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed or (3) variable consideration allocated entirely to a wholly unsatisfied performance obligation for which consideration is allocated in accordance with paragraph 606-10-32-40. All revenue accounted for under the scope of ASC 606 meets one of these three criteria. Contract Balances from Contracts with Customers The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers. (in thousands) Balance at March 31, 2018 Balance at December 31, 2017 Balances from contracts with customers only: Other Assets $ 4,175 $ 972 Other Liabilities 3,774 342 The timing of revenue recognition, billings and cash collections results in receivables, contract assets and contract liabilities on the consolidated balance sheets. For most customer contracts, fees are deducted directly from customer accounts and, therefore, there is no associated impact on the accounts receivable balance. For certain types of service contracts, the Company has an unconditional right to consideration under the service contract and an accounts receivable balance is recorded for services completed. When consideration is received, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a contract, a contract liability is recorded. Contract liabilities are recognized as revenue after control of the products or services is transferred to the customer and all revenue recognition criteria have been met. Costs to Obtain and Fulfill a Contract The Company currently expenses contract costs for processing and administrative fees for debit card transactions. The Company also expenses custody fees and transactional costs associated with securities transactions as well as third party tax preparation fees. Due to the period being less than one year, the Company will apply the practical expedient in paragraph 340-40-25-4, whereby the Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets the Company otherwise would have recognized is one year or less. |
SECURITIES AVAILABLE FOR SALE
SECURITIES AVAILABLE FOR SALE | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
SECURITIES AVAILABLE FOR SALE | SECURITIES AVAILABLE FOR SALE The following is a summary of securities available for sale: (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2018 Securities available for sale Debt securities: Obligations of US Government sponsored enterprises $ 6,982 $ 1 $ 6 $ 6,977 Mortgage-backed securities: US Government-sponsored enterprises 459,601 838 11,264 449,175 US Government agency 92,286 275 2,165 90,396 Private label 484 137 5 616 Obligations of states and political subdivisions thereof 136,244 1,079 2,046 135,277 Corporate bonds 36,405 161 448 36,118 Total securities available for sale $ 732,002 $ 2,491 $ 15,934 $ 718,559 December 31, 2017 Securities available for sale Debt securities: Obligations of US Government sponsored enterprises $ 6,967 $ 5 $ — $ 6,972 Mortgage-backed securities: US Government-sponsored enterprises 447,081 1,738 5,816 443,003 US Government agency 96,357 413 1,174 95,596 Private label 529 150 5 674 Obligations of states and political subdivisions thereof 138,522 2,407 729 140,200 Corporate bonds 30,527 323 53 30,797 Total securities available for sale $ 719,983 $ 5,036 $ 7,777 $ 717,242 The amortized cost and estimated fair value of available for sale (“AFS”) securities segregated by contractual maturity at March 31, 2018 are presented below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Mortgage-backed securities are shown in total, as their maturities are highly variable. Available for sale (in thousands) Amortized Cost Fair Value Within 1 year $ 7,012 $ 7,007 Over 1 year to 5 years 15,718 15,521 Over 5 years to 10 years 46,614 46,574 Over 10 years 110,287 109,270 Total bonds and obligations 179,631 178,372 Mortgage-backed securities 552,371 540,187 Total securities available for sale $ 732,002 $ 718,559 Securities with unrealized losses, segregated by the duration of their continuous unrealized loss positions, are summarized as follows: Less Than Twelve Months Over Twelve Months Total (In thousands) Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Fair March 31, 2018 Securities available for sale Debt securities: Obligations of US Government sponsored enterprises $ 6 $ 3,978 $ — $ — $ 6 $ 3,978 Mortgage-backed securities: US Government-sponsored enterprises 5,388 267,678 5,876 117,825 11,264 385,503 US Government agency 1,168 49,816 997 28,727 2,165 78,543 Private label — 1 5 56 5 57 Obligations of states and political subdivisions thereof 475 39,618 1,571 26,759 2,046 66,377 Corporate bonds 448 25,549 — — 448 25,549 Total securities available for sale $ 7,485 $ 386,640 $ 8,449 $ 173,367 $ 15,934 $ 560,007 December 31, 2017 Securities available for sale Debt securities: Mortgage-backed securities: US Government-sponsored enterprises $ 1,895 $ 189,486 $ 3,921 $ 117,156 $ 5,816 $ 306,642 US Government agency 559 45,221 615 30,155 1,174 75,376 Private label — 8 5 130 5 138 Obligations of states and political subdivisions thereof 58 8,298 671 27,727 729 36,025 Corporate bonds 53 8,943 — — 53 8,943 Total securities available for sale $ 2,565 $ 251,956 $ 5,212 $ 175,168 $ 7,777 $ 427,124 Securities Impairment: As a part of the Company’s ongoing security monitoring process, the Company identifies securities in an unrealized loss position that could potentially be other-than-temporarily impaired. For the three months ended March 31, 2018 and 2017 the Company did not record any other-than-temporary impairment (“OTTI”) losses. Three Months Ended March 31, 2018 2017 Estimated credit losses as of prior year end $ 1,697 $ 1,697 Reductions for securities paid off during the period — — Estimated credit losses at end of the period $ 1,697 $ 1,697 For securities with unrealized losses, the following information was considered in determining that the impairments were not other-than-temporary: The Company expects to recover its amortized cost basis on all debt securities in its AFS portfolio. Furthermore, the Company does not intend to sell nor does it anticipate that it will be required to sell any of its securities in an unrealized loss position as of March 31, 2018 , prior to this recovery. The Company’s ability and intent to hold these securities until recovery is supported by the Company’s strong capital and liquidity positions as well as its historically low portfolio turnover. The following summarizes, by investment security type, the basis for the conclusion for the debt securities in an unrealized loss position within the Company’s AFS were not other-than-temporarily impaired at March 31, 2018 : Obligations of US Government-sponsored enterprises At March 31, 2018 , 1 out of the total 2 securities in the Company’s portfolios of AFS US Government sponsored enterprises were in unrealized loss positions. Aggregate unrealized losses represented 0.1% of the amortized cost of securities in unrealized loss positions.The Federal National Mortgage Association (“FNMA”) and Federal Home Loan Mortgage Corporation (“FHLMC”) guarantee the contractual cash flows of all of the Company’s US government-sponsored enterprises. The securities are investment grade rated and there were no material underlying credit downgrades during the quarter. All securities are performing. US Government-sponsored enterprises At March 31, 2018 , 455 out of the total 781 securities in the Company’s portfolios of AFS US Government sponsored enterprises were in unrealized loss positions. Aggregate unrealized losses represented 2.8% of the amortized cost of securities in unrealized loss positions.The FNMA and FHLMC guarantee the contractual cash flows of all of the Company’s US government-sponsored enterprises. The securities are investment grade rated and there were no material underlying credit downgrades during the quarter. All securities are performing. US Government agency At March 31, 2018 , 117 out of the total 203 securities in the Company’s portfolios of AFS US Government agency securities were in unrealized loss positions. Aggregate unrealized losses represented 2.7% of the amortized cost of securities in unrealized loss positions. The Government National Mortgage Association (“GNMA”) guarantees the contractual cash flows of all of the Company’s US Government agency securities. The securities are investment grade rated and there were no material underlying credit downgrades during the quarter. All securities are performing. Private label At March 31, 2018 , 6 of the total 26 securities in the Company’s portfolio of AFS private-label mortgage-backed securities were in unrealized loss positions. Aggregate unrealized losses represented 7.9% of the amortized cost of securities in unrealized loss positions. Based upon the foregoing considerations, and the expectation that the Company will receive all of the future contractual cash flows related to the amortized cost on these securities, the Company does not consider there to be any additional other-than-temporary impairment with respect to these securities. Obligations of states and political subdivisions thereof At March 31, 2018 , 122 of the total 262 securities in the Company’s portfolio of AFS municipal bonds and obligations were in unrealized loss positions. Aggregate unrealized losses represented 3.0% of the amortized cost of securities in unrealized loss positions. The Company continually monitors the municipal bond sector of the market carefully and periodically evaluates the appropriate level of exposure to the market. At this time, the Company feels the bonds in this portfolio carry minimal risk of default and the Company is appropriately compensated for the risk. There were no material underlying credit downgrades during the quarter. All securities are performing. Corporate bonds At March 31, 2018 , 9 out of the total 16 securities in the Company’s portfolio of AFS corporate bonds were in an unrealized loss position. The aggregate unrealized loss represents 1.7% of the amortized cost of bonds in unrealized loss positions. The Company reviews the financial strength of all of these bonds and has concluded that the amortized cost remains supported by the expected future cash flows of these securities. Visa Class B Common Shares The Company was a member of the Visa USA payment network and was issued Class B shares in connection with the Visa Reorganization and the Visa Inc. initial public offering in March 2008. The Visa Class B shares are transferable only under limited circumstances until they can be converted into shares of the publicly traded class of Visa stock. This conversion cannot happen until the settlement of certain litigation, which is indemnified by Visa members. Since its initial public offering, Visa has funded a litigation reserve based upon a change in the conversion ratio of Visa Class B shares into Visa Class A shares. At its discretion, Visa may continue to increase the conversion rate in connection with any settlements in excess of amounts then in escrow for that purpose and reduce the conversion rate to the extent it adds any funds to the escrow in the future. Based on the existing transfer restriction and the uncertainty of the litigation, the Company has recorded its Visa Class B shares on its statements of condition at zero value for all reporting periods since 2008. At March 31, 2018 , the Company owned 11,623 of Visa Class B shares with a then current conversion ratio to Visa Class A shares of 1.648 (or 19,158 Visa Class A shares). Upon termination of the existing transfer restriction and settlement of the litigation, and to the extent the Company continues to own such Visa Class B shares in the future, the Company expects to record its Visa Class B shares at fair value. |
LOANS
LOANS | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
LOANS | LOANS The Company’s loan portfolio is comprised of the following segments: commercial real estate, commercial and industrial, residential real estate, and consumer loans. Commercial real estate loans includes commercial construction and land development and other commercial real estate loans. Commercial and industrial loans includes loans to commercial businesses, agricultural, and tax exempt loans. Residential real estate loans consists of mortgages for 1 - 4 family housing. Consumer loans include home equity loans and other installment lending. The Company’s lending activities are principally conducted in Maine, New Hampshire, and Vermont. Total loans include business activity loans and acquired loans. Acquired loans are those loans acquired from Lake Sunapee Bank Group. The following is a summary of total loans: March 31, 2018 December 31, 2017 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Commercial Real Estate: Construction and land development $ 31,073 $ 14,800 $ 45,873 $ 28,892 $ 16,781 $ 45,673 Other commercial real estate 512,093 266,755 778,848 505,119 275,954 781,073 Total Commercial Real Estate 543,166 281,555 824,721 534,011 292,735 826,746 Commercial and Industrial: Other Commercial 210,304 65,198 275,502 198,051 68,069 266,120 Agricultural 26,309 — 26,309 27,588 — 27,588 Tax exempt 43,092 42,302 85,394 42,365 43,350 85,715 Total Commercial and Industrial 279,705 107,500 387,205 268,004 111,419 379,423 Total Commercial Loans 822,871 389,055 1,211,926 802,015 404,154 1,206,169 Residential Real Estate: Residential mortgages 588,465 544,512 1,132,977 591,411 564,271 1,155,682 Total Residential Real Estate 588,465 544,512 1,132,977 591,411 564,271 1,155,682 Consumer: Home equity 52,100 57,766 109,866 51,376 62,217 113,593 Other consumer 7,580 2,070 9,650 7,828 2,341 10,169 Total Consumer 59,680 59,836 119,516 59,204 64,558 123,762 Total Loans $ 1,471,016 $ 993,403 $ 2,464,419 $ 1,452,630 $ 1,032,983 $ 2,485,613 The carrying amount of the acquired loans at March 31, 2018 totaled $993.4 million . A subset of these loans was determined to have evidence of credit deterioration at acquisition date, which is accounted for in accordance with ASC 310-30. These purchased credit-impaired loans presently maintain a carrying value of $12.1 million (and a note balance of $16.6 million ). These loans are evaluated for impairment through the periodic reforecasting of expected cash flows. Acquired loans considered not impaired at acquisition date had a carrying amount of $981.3 million as of March 31, 2018 . The following table summarizes activity in the accretable yield for the acquired loan portfolio that falls under the purview of ASC 310-30, Accounting for Certain Loans or Debt Securities Acquired in a Transfer: Three Months Ended March 31, (in thousands) 2018 2017 Balance at beginning of period $ 3,509 $ — Acquisitions — 3,398 Reclassification from nonaccretable difference for loans with improved cash flows 199 — Changes in expected cash flows that do not affect the nonaccretable difference — — Reclassification to troubled debt restructurings — — Accretion (361 ) (204 ) Balance at end of period $ 3,347 $ 3,194 The following is a summary of past due loans at March 31, 2018 and December 31, 2017 : Business Activities Loans (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans Past Due > 90 days and Accruing March 31, 2018 Commercial Real Estate: Construction and land development $ — $ 2 $ 566 $ 568 $ 30,505 $ 31,073 $ — Other commercial real estate 1,008 158 6,656 7,822 504,271 512,093 — Total Commercial Real Estate 1,008 160 7,222 8,390 534,776 543,166 — Commercial and Industrial: Other Commercial 829 12 506 1,347 208,957 210,304 — Agricultural 39 88 101 228 26,081 26,309 2 Tax exempt — — — — 43,092 43,092 — Total Commercial and Industrial 868 100 607 1,575 278,130 279,705 2 Total Commercial Loans 1,876 260 7,829 9,965 812,906 822,871 2 Residential Real Estate: Residential mortgages 624 810 3,772 5,206 583,259 588,465 — Total Residential Real Estate 624 810 3,772 5,206 583,259 588,465 — Consumer: Home equity 174 28 349 551 51,549 52,100 — Other consumer 132 2 — 134 7,446 7,580 — Total Consumer 306 30 349 685 58,995 59,680 — Total Loans $ 2,806 $ 1,100 $ 11,950 $ 15,856 $ 1,455,160 $ 1,471,016 $ 2 Business Activities Loans (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans Past Due > 90 days and Accruing December 31, 2017 Commercial Real Estate: Construction and land development $ — $ — $ 637 $ 637 $ 28,255 $ 28,892 $ — Other commercial real estate 965 1,659 5,065 7,689 497,430 505,119 119 Total Commercial Real Estate 965 1,659 5,702 8,326 525,685 534,011 119 Commercial and Industrial: Other Commercial 186 329 702 1,217 196,834 198,051 21 Agricultural 42 159 198 399 27,189 27,588 155 Tax exempt — — — — 42,365 42,365 — Total Commercial and Industrial 228 488 900 1,616 266,388 268,004 176 Total Commercial Loans 1,193 2,147 6,602 9,942 792,073 802,015 295 Residential Real Estate: Residential mortgages 3,096 711 975 4,782 586,629 591,411 — Total Residential Real Estate 3,096 711 975 4,782 586,629 591,411 — Consumer: Home equity 515 — 199 714 50,662 51,376 199 Other consumer 36 24 — 60 7,768 7,828 — Total Consumer 551 24 199 774 58,430 59,204 199 Total Loans $ 4,840 $ 2,882 $ 7,776 $ 15,498 $ 1,437,132 $ 1,452,630 $ 494 Acquired Loans (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Acquired Credit Impaired Total Loans Past Due > 90 days and Accruing March 31, 2018 Commercial Real Estate: Construction and land development $ — $ — $ — $ — $ 260 $ 14,800 $ — Other commercial real estate 411 — 305 716 8,350 266,755 — Total Commercial Real Estate 411 — 305 716 8,610 281,555 — Commercial and Industrial: Other Commercial 208 97 148 453 459 65,198 — Agricultural — — — — — — — Tax exempt — — — — — 42,302 — Total Commercial and Industrial 208 97 148 453 459 107,500 — Total Commercial Loans 619 97 453 1,169 9,069 389,055 — Residential Real Estate: Residential mortgages 1,376 204 771 2,351 3,168 544,512 — Total Residential Real Estate 1,376 204 771 2,351 3,168 544,512 — Consumer: Home equity 292 46 80 418 25 57,766 — Other consumer 3 — — 3 3 2,070 — Total Consumer 295 46 80 421 28 59,836 — Total Loans $ 2,290 $ 347 $ 1,304 $ 3,941 $ 12,265 $ 993,403 $ — Acquired Loans (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Acquired Credit Impaired Total Loans Past Due > 90 days and Accruing December 31, 2017 Commercial Real Estate: Construction and land development $ 124 $ 9 $ — $ 133 $ 258 $ 16,781 $ — Other commercial real estate 278 — 411 689 8,397 275,954 — Total Commercial Real Estate 402 9 411 822 8,655 292,735 — Commercial and Industrial: Other Commercial 125 14 49 188 632 68,069 — Agricultural — — — — — — — Tax exempt — — — — — 43,350 — Total Commercial and Industrial 125 14 49 188 632 111,419 — Total Commercial Loans 527 23 460 1,010 9,287 404,154 — Residential Real Estate: Residential mortgages 752 388 614 1,754 3,259 564,271 — Total Residential Real Estate 752 388 614 1,754 3,259 564,271 — Consumer: Home equity 125 117 80 322 38 62,217 16 Other consumer 2 — — 2 3 2,341 — Total Consumer 127 117 80 324 41 64,558 16 Total Loans $ 1,406 $ 528 $ 1,154 $ 3,088 $ 12,587 $ 1,032,983 $ 16 Non-Accrual Loans The following is summary information pertaining to non-accrual loans at March 31, 2018 and December 31, 2017 : March 31, 2018 December 31, 2017 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Commercial Real Estate: Construction and land development $ 566 $ — $ 566 $ 637 $ — $ 637 Other commercial real estate 7,401 455 7,856 7,146 560 7,706 Total Commercial Real Estate 7,967 455 8,422 7,783 560 8,343 Commercial and Industrial: Other Commercial 1,532 528 2,060 703 463 1,166 Agricultural 244 — 244 43 — 43 Tax exempt — — — — — — Total Commercial and Industrial 1,776 528 2,304 746 463 1,209 Total Commercial Loans 9,743 983 10,726 8,529 1,023 9,552 Residential Real Estate: Residential mortgages 6,527 2,021 8,548 3,408 858 4,266 Total Residential Real Estate 6,527 2,021 8,548 3,408 858 4,266 Consumer: Home equity 624 277 901 130 217 347 Other consumer 109 55 164 95 58 153 Total Consumer 733 332 1,065 225 275 500 Total Loans $ 17,003 $ 3,336 $ 20,339 $ 12,162 $ 2,156 $ 14,318 Loans evaluated for impairment as of March 31, 2018 and December 31, 2017 were as follows: Business Activities Loans (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total March 31, 2018 Loans receivable: Balance at end of period Individually evaluated for impairment $ 7,641 $ 1,504 $ 4,386 $ 362 $ 13,893 Collectively evaluated 535,525 278,201 584,079 59,318 1,457,123 Total $ 543,166 $ 279,705 $ 588,465 $ 59,680 $ 1,471,016 Business Activities Loans (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total December 31, 2017 Loans receivable: Balance at end of period Individually evaluated for impairment $ 7,604 $ 626 $ 1,404 $ 13 $ 9,647 Collectively evaluated 526,407 267,378 590,007 59,191 1,442,983 Total $ 534,011 $ 268,004 $ 591,411 $ 59,204 $ 1,452,630 Acquired Loans (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total March 31, 2018 Loans receivable: Balance at end of period Individually evaluated for impairment $ 133 $ 598 $ 503 $ — $ 1,234 Purchased Credit Impaired 8,610 459 3,168 28 12,265 Collectively evaluated 272,812 106,443 540,841 59,808 979,904 Total $ 281,555 $ 107,500 $ 544,512 $ 59,836 $ 993,403 Acquired Loans (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total December 31, 2017 Loans receivable: Balance at end of period Individually evaluated for impairment $ 241 $ 571 $ 271 $ 63 $ 1,146 Purchased Credit Impaired 8,655 632 3,259 41 12,587 Collectively evaluated 283,839 110,216 560,741 64,454 1,019,250 Total $ 292,735 $ 111,419 $ 564,271 $ 64,558 $ 1,032,983 The following is a summary of impaired loans at March 31, 2018 and December 31, 2017 : Business Activities Loans March 31, 2018 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ 566 $ 2,491 $ — Commercial real estate other 5,933 5,944 — Commercial other 962 966 — Agricultural — — — Tax exempt loans — — — Residential real estate 3,586 3,603 — Home equity 362 463 — Consumer other — — — With an allowance recorded: Construction and land development $ — $ — $ — Commercial real estate other 1,142 1,204 433 Commercial other 542 544 132 Agricultural — — — Tax exempt loans — — — Residential real estate 800 801 84 Home equity — — — Consumer other — — — Total Commercial real estate $ 7,641 $ 9,639 $ 433 Commercial and industrial 1,504 1,510 132 Residential real estate 4,386 4,404 84 Consumer 362 463 — Total impaired loans $ 13,893 $ 16,016 $ 649 Acquired Loans March 31, 2018 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Commercial real estate other 133 245 — Commercial other 176 175 — Agricultural — — — Tax exempt loans — — — Residential real estate 503 507 — Home equity — — — Consumer other — — — With an allowance recorded: Construction and land development $ — $ — $ — Commercial real estate other — — — Commercial other 422 436 121 Agricultural — — — Tax exempt loans — — — Residential real estate — — — Home equity — — — Consumer other — — — Total Commercial real estate $ 133 $ 245 $ — Commercial and industrial 598 611 121 Residential real estate 503 507 — Consumer — — — Total impaired loans $ 1,234 $ 1,363 $ 121 Business Activities Loans December 31, 2017 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Commercial real estate other 5,896 5,903 — Commercial other 218 217 — Agricultural — — — Tax exempt loans — — — Residential real estate 1,247 1,260 — Home equity 13 13 — Consumer other — — — With an allowance recorded: Construction and land development $ 637 $ 2,563 $ 59 Commercial real estate other 1,071 1,132 388 Commercial other 408 408 3 Agricultural — — — Tax exempt loans — — — Residential real estate 157 157 9 Home equity — — — Consumer other — — — Total Commercial real estate $ 7,604 $ 9,598 $ 447 Commercial and industrial 626 625 3 Residential real estate 1,404 1,417 9 Consumer 13 13 — Total impaired loans $ 9,647 $ 11,653 $ 459 Acquired Loans December 31, 2017 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Other commercial real estate 241 352 — Other commercial 571 584 — Agricultural — — — Tax exempt — — — Residential mortgages 271 278 — Home equity 63 156 — Other consumer — — — With an allowance recorded: Construction and land development $ — $ — $ — Other commercial real estate — — — Other commercial — — — Agricultural — — — Tax exempt — — — Residential mortgages — — — Home equity — — — Other consumer — — — Total Commercial real estate $ 241 $ 352 $ — Commercial and industrial 571 584 — Residential real estate 271 278 — Consumer 63 156 — Total impaired loans $ 1,146 $ 1,370 $ — The following is a summary of the average recorded investment and interest income recognized on impaired loans as of March 31, 2018 and 2017 : Business Activities Loans Three Months Ended March 31, 2018 Three Months Ended March 31, 2017 (in thousands) Average Recorded Investment Cash Basis Interest Income Recognized Average Recorded Investment Cash Basis Interest Income Recognized With no related allowance: Construction and land development $ 589 $ — $ — $ — Commercial real estate other 5,937 — 2,592 34 Commercial other 1,334 — 226 3 Agricultural — — 192 2 Tax exempt loans — — — — Residential real estate 3,591 — 1,500 22 Home equity 444 — 590 — Consumer other — — 44 1 With an allowance recorded: Construction and land development $ — $ — $ — $ — Commercial real estate other 1,144 — 1,723 — Commercial other 187 — 216 — Agricultural — — — — Tax exempt loans — — — — Residential real estate 802 — 321 — Home equity — — — — Consumer other — — 9 — Total Commercial real estate $ 7,670 $ — $ 4,315 $ 34 Commercial and industrial 1,521 — 634 5 Residential real estate 4,393 — 1,821 22 Consumer 444 — 643 1 Total impaired loans $ 14,028 $ — $ 7,413 $ 62 Acquired Loans Three Months Ended March 31, 2018 Three Months Ended March 31, 2017 (in thousands) Average Recorded Investment Cash Basis Interest Income Recognized Average Recorded Investment Cash Basis Interest Income Recognized With no related allowance: Construction and land development $ — $ — $ — $ — Commercial real estate other 133 — — — Commercial other 161 1 — — Agricultural — — — — Tax exempt loans — — — — Residential real estate 508 — — — Home equity — — — — Consumer other — — — — With an allowance recorded: Construction and land development $ — $ — $ — $ — Commercial real estate other — — — — Commercial other 434 — — — Agricultural — — — — Tax exempt loans — — — — Residential real estate — — — — Home equity — — — — Consumer other — — — — Total Commercial real estate $ 133 $ — $ — $ — Commercial and industrial 595 1 — — Residential real estate 508 — — — Consumer — — — — Total impaired loans $ 1,236 $ 1 $ — $ — Troubled Debt Restructuring Loans The Company’s loan portfolio also includes certain loans that have been modified in a Troubled Debt Restructuring ("TDR"), where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months . TDRs are evaluated individually for impairment and may result in a specific allowance amount allocated to an individual loan. The following tables include the recorded investment and number of modifications identified during the three months ended March 31, 2018 and for the three months ended March 31, 2017 , respectively. The table includes the recorded investment in the loans prior to a modification and also the recorded investment in the loans after the loans were restructured. The modifications for the three months ended March 31, 2018 were attributable to interest rate concessions, maturity date extensions, reamortization or a combination of two concessions. The modifications for the three months ending March 31, 2017 were attributable to interest rate concessions, maturity date extensions, or a combination of both. Three Months Ended March 31, 2018 (Dollars in thousands) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Commercial installment 2 $ 452 $ 448 Agricultural 1 2 2 Commercial real estate 1 167 — Residential real estate 5 1,105 1,099 Consumer other 1 1 1 Total 10 $ 1,727 $ 1,550 Three Months Ended March 31, 2017 (Dollars in thousands) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Commercial installment 1 $ 80 $ 80 Residential real estate 2 575 574 Consumer other 1 38 37 Total 4 $ 693 $ 691 For the three months ended March 31, 2018 , there were no loans restructured that had subsequently defaulted during the period. The evaluation of certain loans individually for specific impairment includes loans that were previously classified as TDRs or continue to be classified as TDRs. Foreclosure As of March 31, 2018 , the Company maintained foreclosed residential real estate property with a fair value of $216 thousand . Additionally, residential mortgage loans collateralized by real estate property that are in the process of foreclosure as of March 31, 2018 and December 31, 2017 totaled $1.6 million and $843 thousand , respectively. As of December 31, 2017 , foreclosed residential real estate property totaled $122 thousand . Mortgage Banking Total residential loans included held for sale loans of $4.8 million and $13.4 million at March 31, 2018 and December 31, 2017, respectively. |
LOAN LOSS ALLOWANCE
LOAN LOSS ALLOWANCE | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
LOAN LOSS ALLOWANCE | LOAN LOSS ALLOWANCE The allowance for loan losses is maintained at a level considered adequate to provide for our estimate of probable credit losses inherent in the loan portfolio. The allowance is increased by provisions charged to operating expense and reduced by net charge-offs. Loans are charged against the allowance for loan losses when we believe that collectability is unlikely. While we use the best information available to make our evaluation, future adjustments may be necessary if there are significant changes in conditions. The allowance is comprised of four distinct reserve components: (1) specific reserves related to loans individually evaluated, (2) quantitative reserves related to loans collectively evaluated (3) qualitative reserves related to loans collectively evaluated and (4) a temporal estimate is made for incurred loss emergence period for each loan category within the collectively evaluated pools. A summary of the methodology we employ on a quarterly basis with respect to each of these components in order to evaluate the overall adequacy of our allowance for loan losses is as follows: Specific Reserve for Loans Individually Evaluated First, we identify loan relationships having aggregate balances in excess of $150 thousand and that may also have credit weaknesses. Such loan relationships are identified primarily through our analysis of internal loan evaluations, past due loan reports and loans adversely classified internally or by regulatory authorities. Each loan so identified is then individually evaluated for impairment. Loans are considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect all amounts due according to the contractual terms of the original loan agreement. Substantially all of our impaired loans have historically been collateral dependent, meaning repayment of the loan is expected or is considered to be provided solely from the sale of the loan's underlying collateral. For such loans, we measure impairment based on the fair value of the loan's collateral, which is generally determined utilizing current appraisals. A specific reserve is established in an amount equal to the excess, if any, of the recorded investment in each impaired loan over the fair value of its underlying collateral, less estimated costs to sell. Our policy is to re-evaluate the fair value of collateral dependent loans at least every twelve months unless there is a known deterioration in the collateral's value, in which case a new appraisal is obtained. Purchase credit impaired (“PCI”) loans are collectively evaluated, but are not included in the general reserve as described below. The evaluation of the PCI loans requires continued quarterly assessment of key assumptions and estimates similar to the initial fair value estimate, including changes in the severity of loss, timing and speed of payments, collateral value changes, expected cash flows and other relevant factors. The quarterly assessment is compared to the initial fair value estimate and a determination is made if an adjustment to the allowance for loan loss is deemed necessary. Quantitative Reserve for Loans Collectively Evaluated Second, we stratify the loan portfolio into two general business loan pools: substandard (7 risk rated) and pass-rated (0 to 6 rated) by loan type. Substandard rated loans are subject to higher credit loss rates in the allowance for loan loss calculation. The Company utilizes historical loss rates for commercial real estate and commercial and industrial loans assessed by internal risk rating. Historical loss rates on residential real estate and consumer loans are not risk graded. Residential real estate and consumer loans are considered as part of the pass-rated portfolio unless removed due to specific reserve evaluation based on past due status and/or other indications of credit deterioration. Quantitative reserves relative to each loan pool are established as follows: for all loan segments an allocation equaling 100% of the respective pool's average 3-year historical net loan charge-off rate (determined based upon the most recent 12 quarters) is applied to the aggregate recorded investment in the pool of loans. Purchased performing loans are collectively evaluated as their own separate category within each loan pool. Qualitative Reserve for Loans Collectively Evaluated Third, we consider the necessity to adjust our average historical net loan charge-off rates relative to each of the above two loan pools for potential risks factors that could result in actual losses deviating from prior loss experience. Such qualitative risk factors considered are: (1) lending policies and procedures, (2) business conditions, (3) volume and nature of the loan portfolio, (4) experience, ability and depth of lending management, (5) problem loan trends, (6) quality of the Bank’s loan review system, (7) concentrations in the portfolio, (8) competition, legal, and regulatory environment and (9) collateral coverage and loan-to-value. Loss Emergence Period for Loans Collectively Evaluated Fourth, the general allowance related to loans collectively evaluated includes an estimate of incurred losses over an estimated loss emergence period ("LEP"). The LEP was generated utilizing a charge-off look-back analysis, which studied the time from the first indication of elevated risk of repayment (or other early event indicating a problem) to eventual charge-off to support the LEP considered in the allowance calculation. This reserving methodology established the approximate number of months of LEP that represents incurred losses for each loan portfolio within each portfolio segment in addition to the qualitative reserves. Activity in the allowance for loan losses for the three months ended March 31, 2018 and 2017 was as follows: Business Activities Loans At or for the Three Months Ended March 31, 2018 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 6,037 $ 2,373 $ 3,357 $ 386 $ 12,153 Charged-off loans — (84 ) — (170 ) (254 ) Recoveries on charged-off loans 15 2 1 2 20 Provision/(releases) for loan losses (54 ) 321 (54 ) 282 495 Balance at end of period $ 5,998 $ 2,612 $ 3,304 $ 500 $ 12,414 Individually evaluated for impairment 433 132 84 — 649 Collectively evaluated 5,565 2,480 3,220 500 11,765 Total $ 5,998 $ 2,612 $ 3,304 $ 500 $ 12,414 Business Activities Loans At or for the Three Months Ended March 31, 2017 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 5,145 $ 1,952 $ 2,721 $ 601 $ 10,419 Charged-off loans (107 ) (17 ) (199 ) (21 ) (344 ) Recoveries on charged-off loans 4 — 1 9 14 Provision/(releases) for loan losses 265 208 283 39 795 Balance at end of period $ 5,307 $ 2,143 $ 2,806 $ 628 $ 10,884 Individually evaluated for impairment 302 172 45 8 527 Collectively evaluated 5,005 1,971 2,761 620 10,357 Total $ 5,307 $ 2,143 $ 2,806 $ 628 $ 10,884 Acquired Loans At or for the Three Months Ended March 31, 2018 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 97 $ 16 $ 59 $ — $ 172 Charged-off loans (106 ) (58 ) — (43 ) (207 ) Recoveries on charged-off loans — — — — — Provision/(releases) for loan losses 92 166 (1 ) 43 300 Balance at end of period $ 83 $ 124 $ 58 $ — $ 265 Individually evaluated for impairment — 121 — — 121 Collectively evaluated 83 3 58 — 144 Total $ 83 $ 124 $ 58 $ — $ 265 There was no allowance for loans meeting the definition of acquired for the three month period ending March 31, 2017 . Loan Origination/Risk Management: The Bank has certain lending policies and procedures in place are designed to maximize loan income within an acceptable level of risk. The Bank’s Board of Directors reviews and approves these policies and procedures on a regular basis. A reporting system supplements the review process by providing management and the Bank's Board of Directors with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and non-performing loans and potential problem loans. The Bank seeks to diversify the loan portfolio as a means of managing risk associated with fluctuations in economic conditions. Credit Quality Indicators/Classified Loans: In monitoring the credit quality of the portfolio, management applies a credit quality indicator and uses an internal risk rating system to categorize commercial loans. These credit quality indicators range from one through nine , with a higher number correlating to increasing risk of loss. These ratings are used as inputs to the calculation of the allowance for loan losses. Consistent with regulatory guidelines, the Bank provides for the classification of loans which are considered to be of lesser quality as special mention, substandard, doubtful, or loss (i.e. risk rated 6, 7 , 8 and 9 , respectively). The following are the definitions of the Bank’s credit quality indicators: Pass: Loans within all classes of commercial portfolio segments that are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan agreement. Management believes there is a low risk of loss related to these loans considered pass rated. Special mention: Loans that do not expose the Bank to risk sufficient to warrant classification in one of the subsequent categories, but which possess some weaknesses, are designated as special mention. A special mention loan has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. This might include loans which the lending officer may be unable to supervise properly because of: (i) lack of expertise, inadequate loan agreement; (ii) the poor condition of or lack of control over collateral; or (iii) failure to obtain proper documentation or any other deviations from prudent lending practices. Economic or market conditions which may, in the future, affect the obligor may warrant special mention of the asset. Loans for which an adverse trend in the borrower's operations or an imbalanced position in the balance sheet which has not reached a point where the liquidation is jeopardized may be included in this classification. Special mention loans are not adversely classified and do not expose the Bank to sufficient risks to warrant classification. Substandard: The Bank considers a loan substandard if it is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Substandard loans have a well-defined weakness that jeopardizes liquidation of the debt. Substandard loans include those loans where there is the distinct possibility of some loss of principal, if the deficiencies are not corrected. Doubtful: Loans the Bank classifies as doubtful have all of the weaknesses inherent in those loans that are classified as substandard.These loans have the added characteristic of the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is high but because of certain important and reasonably specific pending factors which may work to the advantage and strengthening of the loan, its classification as loss is deferred until its more exact status is determined. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral and refinancing plans. The entire amount of the loan might not be classified as doubtful when collection of a specific portion appears highly probable. Loans are generally not classified doubtful for an extended period of time (i.e., over a year). Loss: Loans the Bank classifies as losses are those considered uncollectible and of such little value that their continuance as an asset is not warranted and the uncollectible amounts are charged-off. This classification does not mean the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this worthless asset even though partial recovery may be affected in the future. Losses are taken in the period in which they are determined to be uncollectible. The following tables present the Company’s loans by risk rating at March 31, 2018 and December 31, 2017 : Business Activities Loans Commercial Real Estate Credit Risk Profile by Creditworthiness Category Construction and land development Commercial real estate other Total commercial real estate (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Grade: Pass $ 30,433 $ 28,180 $ 489,702 $ 483,711 $ 520,135 $ 511,891 Special mention 73 73 7,740 5,706 7,813 5,779 Substandard 567 639 14,651 15,702 15,218 16,341 Total $ 31,073 $ 28,892 $ 512,093 $ 505,119 $ 543,166 $ 534,011 Commercial and Industrial Credit Risk Profile by Creditworthiness Category Commercial other Agricultural Tax exempt loans Total commercial and industrial (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Grade: Pass $ 206,217 $ 194,147 $ 25,700 $ 27,046 $ 42,935 $ 42,208 $ 274,852 $ 263,401 Special mention 2,115 1,933 68 63 157 157 2,340 2,153 Substandard 1,972 1,971 541 479 — — 2,513 2,450 Total $ 210,304 $ 198,051 $ 26,309 $ 27,588 $ 43,092 $ 42,365 $ 279,705 $ 268,004 Residential Real Estate and Consumer Loans Credit Risk Profile Based on Payment Activity Residential real estate Home equity Other consumer Total Residential real estate and consumer (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Performing $ 581,938 $ 588,003 $ 51,476 $ 51,246 $ 7,471 $ 7,733 $ 640,885 $ 646,982 Nonperforming 6,527 3,408 624 130 109 95 7,260 3,633 Total $ 588,465 $ 591,411 $ 52,100 $ 51,376 $ 7,580 $ 7,828 $ 648,145 $ 650,615 Acquired Loans Commercial Real Estate Credit Risk Profile by Creditworthiness Category Commercial construction and land development Commercial real estate other Total commercial real estate (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Grade: Pass $ 14,436 $ 16,523 $ 256,806 $ 266,477 $ 271,242 $ 283,000 Special mention 81 235 2,543 2,440 2,624 2,675 Substandard 283 23 7,406 7,037 7,689 7,060 Total $ 14,800 $ 16,781 $ 266,755 $ 275,954 $ 281,555 $ 292,735 Commercial and Industrial Credit Risk Profile by Creditworthiness Category Commercial other Agricultural Tax exempt loans Total commercial and industrial (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Grade: Pass $ 58,199 $ 60,300 $ — $ — $ 42,302 $ 43,350 $ 100,501 $ 103,650 Special mention 5,003 5,753 — — — — 5,003 5,753 Substandard 1,996 2,016 — — — — 1,996 2,016 Total $ 65,198 $ 68,069 $ — $ — $ 42,302 $ 43,350 $ 107,500 $ 111,419 Residential Real Estate and Consumer Loans Credit Risk Profile Based on Payment Activity Residential real estate Home equity Other consumer Total Residential real estate and consumer (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Performing $ 541,464 $ 562,516 $ 57,490 $ 62,000 $ 2,015 $ 2,283 $ 600,969 $ 626,799 Nonperforming 3,049 1,755 277 217 55 58 3,381 2,030 Total $ 544,513 $ 564,271 $ 57,767 $ 62,217 $ 2,070 $ 2,341 $ 604,350 $ 628,829 The following table summarizes information about total classified and criticized loans loans as of March 31, 2018 and December 31, 2017 : March 31, 2018 December 31, 2017 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Non-accrual $ 17,003 $ 3,336 $ 20,339 $ 12,140 $ 2,156 $ 14,296 Substandard accruing 7,988 6,145 14,133 10,284 7,833 18,117 Total classified 24,991 9,481 34,472 22,424 9,989 32,413 Special mention 10,153 7,627 17,780 7,932 8,428 16,360 Total Criticized $ 35,144 $ 17,108 $ 52,252 $ 30,356 $ 18,417 $ 48,773 |
BORROWED FUNDS
BORROWED FUNDS | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
BORROWED FUNDS | BORROWED FUNDS Borrowed funds at March 31, 2018 and December 31, 2017 are summarized, as follows: March 31, 2018 December 31, 2017 (dollars in thousands) Carrying Value Weighted Average Rate Carrying Value Weighted Average Rate Short-term borrowings Advances from the FHLB $ 567,372 1.80 % $ 608,792 1.49 % Other borrowings 31,615 0.89 40,706 0.59 Total short-term borrowings 598,987 1.75 649,498 1.43 Long-term borrowings Advances from the FHLB 143,211 1.83 137,190 1.72 Subordinated borrowings 38,018 5.36 38,033 4.88 Junior subordinated borrowings 5,000 5.41 5,000 4.89 Total long-term borrowings 186,229 2.65 180,223 2.47 Total $ 785,216 1.96 % $ 829,721 1.66 % Short term debt includes Federal Home Loan Bank of Boston (“FHLB”) advances with an original maturity of less than one year. The Bank also maintains a $1.0 million secured line of credit with the FHLB that bears a daily adjustable rate calculated by the FHLB. There was no outstanding balance on the FHLB line of credit for the periods ended March 31, 2018 and December 31, 2017 . The Bank also had capacity to borrow funds on a secured basis utilizing the Borrower in Custody program and the Discount Window at the Federal Reserve Bank of Boston (the “FRB”). At March 31, 2018 , the Bank’s available secured line of credit at the FRB was $118.0 million . The Bank has pledged certain loans and securities to the FRB to support this arrangement. There were no borrowings with the FRB for the periods ended March 31, 2018 and December 31, 2017 . Long-term FHLB advances consist of advances with a maturity of more than one year. The advances outstanding at March 31, 2018 include callable advances totaling $25.0 million , and amortizing advances totaling $676 thousand . The advances outstanding at December 31, 2017 include callable advances totaling $27.0 million , and $683 thousand amortizing advances. All FHLB borrowings, including the line of credit, are secured by a blanket security agreement on certain qualified collateral, principally all residential first mortgage loans and certain securities. A summary of maturities of FHLB advances as of March 31, 2018 is as follows: March 31, 2018 (in thousands, except rates) Carrying Value Weighted Average Rate Fixed rate advances maturing: 2018 $ 531,680 1.78 % 2019 146,661 1.88 2020 29,929 1.88 2021 1,637 2.35 2022 — — 2023 and thereafter 676 2.87 Total FHLB advances $ 710,583 1.81 % In April 2008, the Bank issued fifteen year junior subordinated notes in the amount of $5.0 million . These debt securities qualify as Tier 2 capital for the Company and the Bank. The subordinated debt securities are callable by the Bank after five years without penalty. The interest rate is three-month LIBOR plus 3.45% . At March 31, 2018 and December 31, 2017 the interest rate was 5.57% and 5.04% , respectively. The Company has $17.0 million of subordinated debt issued on October 29, 2014, in connection with the execution of a Subordinated Note Purchase Agreement with an aggregate of $17.0 million of subordinated notes (the “Notes”) to the accredited investors. The Notes have a maturity date of November 1, 2024, and will bear interest at a fixed rate of 6.75% per annum. The Company may, at its option, beginning with the interest payment date of November 1, 2019, and on any interest payment date thereafter, redeem the Notes, in whole or in part, at par plus accrued and unpaid interest to the date of redemption. Any partial redemption will be made pro rata among all of the noteholders. The Notes are not subject to repayment at the option of the noteholders. The Notes are unsecured, subordinated obligations of the Company and rank junior in right of payment to the Company’s senior indebtedness and to the Company’s obligations to its general creditors. The Company also has $20.6 million in floating Junior Subordinated Deferrable Interest Debentures ("Debentures") issued by NHTB Capital Trust II ("Trust II") and NHTB Capital Trust III ("Trust III"), which are both Connecticut statutory trusts. The Debentures were issued on March 30, 2014, carry a variable interest rate of 3-month LIBOR plus 2.79% , and mature in 2034. The debt is callable by the Company at the time when any interest payment is made. Trust II and Trust III are considered variable interest entities for which the Company is not the primary beneficiary. Accordingly, Trust II and Trust III are not consolidated into the Company’s financial statements. |
DEPOSITS
DEPOSITS | 3 Months Ended |
Mar. 31, 2018 | |
Deposits [Abstract] | |
DEPOSITS | DEPOSITS A summary of time deposits is as follows: (in thousands) March 31, 2018 December 31, 2017 Time less than $100,000 $ 587,046 $ 579,856 Time $100,000 or more 297,802 286,490 Total time deposits $ 884,848 $ 866,346 At March 31, 2018 and December 31, 2017 , the scheduled maturities by year for time deposits were as follows: (in thousands) March 31, 2018 December 31, 2017 Within 1 year $ 474,956 $ 406,295 Over 1 year to 2 years 274,329 305,895 Over 2 years to 3 years 102,272 115,878 Over 3 years to 4 years 13,647 24,459 Over 4 years to 5 years 19,617 13,685 Over 5 years 27 134 Total $ 884,848 $ 866,346 Included in time deposits are brokered deposits of $450.4 million and $428.3 million at March 31, 2018 and December 31, 2017 , respectively. Included in the deposit balances contained on the balance sheet are reciprocal deposits of $35.5 million and $49.7 million at March 31, 2018 and December 31, 2017 , respectively. |
CAPITAL RATIOS AND SHAREHOLDERS
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY | 3 Months Ended |
Mar. 31, 2018 | |
Stockholders' Equity Note [Abstract] | |
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY | CAPITAL RATIOS AND SHAREHOLDERS’ EQUITY The actual and required capital ratios were as follows: March 31, 2018 Regulatory Minimum to be "Well Capitalized" December 31, 2017 Regulatory Minimum to be "Well Capitalized" Company (consolidated) Total capital to risk weighted assets 13.9 % 10.5 % 13.7 % 10.5 % Common equity tier 1 capital to risk weighted assets 11.4 6.5 11.3 6.5 Tier 1 capital to risk weighted assets 12.3 8.0 12.2 8.0 Tier 1 capital to average assets 8.2 5.0 8.1 5.0 Bank Total capital to risk weighted assets 13.7 % 10.5 % 13.7 % 10.5 % Common equity tier 1 capital to risk weighted assets 12.9 6.5 12.9 6.5 Tier 1 capital to risk weighted assets 12.9 8.0 12.9 8.0 Tier 1 capital to average assets 8.6 5.0 8.6 5.0 At each date shown, the Company and the Bank met the conditions to be classified as “well capitalized” under the relevant regulatory framework. To be categorized as "well capitalized," an institution must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the table above. Effective January 1, 2015, the Company and the Bank became subject to the Basel III rule that requires the Company and the Bank to assess their Common equity tier 1 capital to risk weighted assets and the Company and the Bank each exceed the minimum to be "well capitalized." In addition, the final capital rules added a requirement to maintain a minimum conservation buffer, composed of common equity tier 1 capital, of 2.5% of risk-weighted assets, to be phased in over three years and applied to the common equity tier 1 risk-based capital ratio, the Tier 1 risk-based capital ratio and the Total risk-based capital ratio. Accordingly, banking organizations, on a fully phased in basis no later than January 1, 2019, must maintain a minimum Common equity tier 1 risk-based capital ratio of 7.0% , a minimum Tier 1 risk-based capital ratio of 8.5% and a minimum Total risk-based capital ratio of 10.5% . The required minimum conservation buffer began to be phased in incrementally, starting at 0.625% on January 1, 2016 and increasing to 1.25% on January 1, 2017. The buffer increased to 1.875% on January 1, 2018 and will increase to 2.5% on January 1, 2019. The final capital rules impose restrictions on capital distributions and certain discretionary cash bonus payments if the minimum capital conservation buffer is not met. At March 31, 2018 , the capital levels of both the Company and the Bank exceeded all regulatory capital requirements and their regulatory capital ratios were above the minimum levels required to be considered "well capitalized" for regulatory purposes. The capital levels of both the Company and the Bank at March 31, 2018 also exceeded the minimum capital requirements including the currently applicable capital conservation buffer of 1.875% . Accumulated other comprehensive loss Components of accumulated other comprehensive income is as follows: (in thousands) March 31, 2018 December 31, 2017 Other accumulated comprehensive income (loss), before tax: Net unrealized loss on AFS securities $ (13,443 ) $ (2,741 ) Net unrealized loss on effective cash flow hedging derivatives (2,934 ) (3,588 ) Net unrealized loss on post-retirement plans (905 ) (946 ) Income taxes related to items of accumulated other comprehensive loss: Net unrealized loss on AFS securities 3,211 1,030 Net unrealized loss on effective cash flow hedging derivatives 698 1,338 Net unrealized loss on post-retirement plans 217 353 Accumulated other comprehensive loss $ (13,156 ) $ (4,554 ) The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2018 and 2017 : (in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2018 Net unrealized gain on AFS securities: Net unrealized gain arising during the period $ (10,702 ) $ 2,550 $ (8,152 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on AFS securities (10,702 ) 2,550 (8,152 ) Net unrealized loss on derivative hedges: Net unrealized loss arising during the period 654 (155 ) 499 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on derivative hedges 654 (155 ) 499 Net unrealized loss on post-retirement plans: Net unrealized loss arising during the period 41 (10 ) 31 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on post-retirement plans 41 (10 ) 31 Other comprehensive loss $ (10,007 ) $ 2,385 $ (7,622 ) Three Months Ended March 31, 2017 Net unrealized gain on AFS securities: Net unrealized gain arising during the period $ 1,116 $ (348 ) $ 768 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on AFS securities 1,116 (348 ) 768 Net unrealized loss on derivative hedges: Net unrealized loss arising during the period (223 ) 83 (140 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on derivative hedges (223 ) 83 (140 ) Net unrealized loss on post-retirement plans: Net unrealized loss arising during the period 57 (21 ) 36 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on post-retirement plans 57 (21 ) 36 Other comprehensive income (loss) $ 950 $ (286 ) $ 664 The following table presents the changes in each component of accumulated other comprehensive income (loss), for the three months ended March 31, 2018 and 2017 : (in thousands) Net unrealized holding gain on AFS Securities Net loss on effective cash flow hedging derivatives Net unrealized holding loss on pension plans Total Three Months Ended March 31, 2018 Balance at beginning of period $ (1,713 ) $ (2,250 ) $ (591 ) $ (4,554 ) Other comprehensive gain/(loss) before reclassifications (8,152 ) 499 31 (7,622 ) Less: amounts reclassified from accumulated other comprehensive income for ASU 2018-02 (367 ) (485 ) (128 ) (980 ) Total other comprehensive loss (8,519 ) 14 (97 ) (8,602 ) Balance at end of period $ (10,232 ) $ (2,236 ) $ (688 ) $ (13,156 ) Three Months Ended March 31, 2017 Balance at beginning of period $ (2,125 ) $ (1,798 ) $ (403 ) $ (4,326 ) Other comprehensive gain/(loss) before reclassifications 768 (140 ) 36 664 Less: amounts reclassified from accumulated other comprehensive income — — — — Total other comprehensive loss 768 (140 ) 36 664 Balance at end of period $ (1,357 ) $ (1,938 ) $ (367 ) $ (3,662 ) The Company did not have any reclassifications from any component of accumulated other comprehensive income (loss) for the three months ended March 31, 2018 and 2017. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | EARNINGS PER SHARE Earnings per share have been computed based on the following (average diluted shares outstanding are calculated using the treasury stock method): Three Months Ended March 31, (in thousands, except per share and share data) 2018 2017 Net income $ 7,812 $ 4,211 Average number of basic common shares outstanding 15,448,338 14,471,147 Plus: dilutive effect of stock options and awards outstanding 104,631 120,126 Average number of diluted common shares outstanding 15,552,969 14,591,273 Anti-dilutive options excluded from earnings calculation 1,230 — Earnings per share: Basic $ 0.51 $ 0.29 Diluted $ 0.50 $ 0.29 |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES As part of its overall asset and liability management strategy, the Bank periodically uses derivative instruments to minimize significant unplanned fluctuations in earnings and cash flows caused by interest rate volatility. The Bank’s interest rate risk management strategy involves modifying the re-pricing characteristics of certain assets or liabilities so the changes in interest rates do not have a significant effect on net interest income. The Company recognizes its derivative instruments on the consolidated balance sheet at fair value. On the date the derivative instrument is entered into, the Bank designates whether the derivative is part of a hedging relationship (i.e., cash flow or fair value hedge). The Bank formally documents relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking hedge transactions. The Bank also assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives used in hedging transactions are highly effective in offsetting the changes in cash flows or fair values of hedged items. Changes in fair value of derivative instruments that are highly effective and qualify as cash flow hedges are recorded in other comprehensive income or loss. Any ineffective portion is recorded in earnings. The Bank discontinues hedge accounting when it is determined the derivative is no longer effective in offsetting changes of the hedged risk on the hedged item, or management determines the designation of the derivative as a hedging instrument is no longer appropriate. Information about derivative assets and liabilities at March 31, 2018 and December 31, 2017 , was as follows: March 31, 2018 Notional Amount Weighted Average Maturity Estimated Fair Value Asset (Liability) (in thousands) (in years) (in thousands) Cash flow hedges: Interest rate caps agreements $ 90,000 4.9 $ 1,215 Total cash flow hedges 90,000 4.9 1,215 Economic hedges: Forward sale commitments 5,658 0.2 (51 ) Total economic hedges 5,658 0.2 (51 ) Non-hedging derivatives: Interest rate lock commitments 4,375 0.2 7 Total non-hedging derivatives 4,375 0.2 7 Total $ 100,033 $ 1,171 December 31, 2017 Notional Amount Weighted Average Maturity Estimated Fair Value Asset (Liability) (in thousands) (in years) (in thousands) Cash flow hedges: Interest rate caps agreements $ 90,000 5.1 $ 669 Total cash flow hedges 90,000 5.1 669 Economic hedges: Forward sale commitments 20,352 0.2 (221 ) Total economic hedges 20,352 0.2 (221 ) Non-hedging derivatives: Interest rate lock commitments 19,853 0.2 (1 ) Total non-hedging derivatives 19,853 0.2 (1 ) Total $ 130,205 $ 447 Information about derivative assets and liabilities for the three months ended March 31, 2018 and 2017 , was as follows: Three Months Ended March 31, (in thousands) 2018 2017 Cash flow hedges: Interest rate cap agreements Realized (loss) in interest expense $ (108 ) $ (39 ) Economic hedges: Forward commitments Realized gain/(loss) in other non-interest income 170 (78 ) Non-hedging derivatives: Interest rate lock commitments Realized gain in other non-interest income 8 2 Cash flow hedges In 2014, interest rate cap agreements were purchased to limit the Bank’s exposure to rising interest rates on four rolling, three-month borrowings indexed to three-month LIBOR. Under the terms of the agreements, the Bank paid total premiums of $4.6 million for the right to receive cash flow payments if 3-month LIBOR rises above the caps of 3.00% , thus effectively ensuring interest expense on the borrowings at maximum rates of 3.00% for the duration of the agreements. The interest rate cap agreements were designated as cash flow hedges. The fair values of the interest rate cap agreements are included in other assets on the Company’s consolidated balance sheets. Changes in the fair value, representing unrealized gains or losses, are recorded in accumulated other comprehensive income, net of tax. The premiums paid on the interest rate cap agreements are being recognized as increases in interest expense over the duration of the agreements using the caplet method. Economic hedges The Company utilizes forward sale commitments to hedge interest rate risk and the associated effects on the fair value of interest rate lock commitments and loans originated for sale. The forward sale commitments are accounted for as derivatives with changes in fair value recorded in current period earnings. The Company typically uses mandatory delivery contracts, which are loan sale agreements where the Company commits to deliver a certain principal amount of mortgage loans to an investor at a specified price on or before a specified date. Generally, the Company may enter into mandatory delivery contracts shortly after the loan closes with a customer. Non-hedging derivatives The Company enters into interest rate lock commitments (“IRLCs”) for residential mortgage loans, which commit the Company to lend funds to a potential borrower at a specific interest rate and within a specified period of time. IRLCs relate to the origination of mortgage loans will be held for sale are considered derivative financial instruments under applicable accounting guidance. Outstanding IRLCs expose the Company to the risk that the price of the mortgage loans underlying the commitments may decline due to increases in mortgage interest rates from inception of the rate lock to the funding of the loan. The IRLCs are free-standing derivatives which are carried at fair value with changes recorded in non-interest income in the Company’s consolidated statements of income. Changes in the fair value of IRLCs subsequent to inception are based on changes in the fair value of the underlying loan resulting from the fulfillment of the commitment and changes in the probability when the loan will fund within the terms of the commitment, which is affected primarily by changes in interest rates and the passage of time. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS A description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to all of the Company’s financial assets and financial liabilities that are carried at fair value. Recurring Fair Value Measurements The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value. March 31, 2018 Level 1 Level 2 Level 3 Total (in thousands) Inputs Inputs Inputs Fair Value Available for sale securities: Obligations of US Government sponsored enterprises $ — $ 6,977 $ — $ 6,977 Mortgage-backed securities: US Government-sponsored enterprises — 449,175 — 449,175 US Government agency — 90,396 — 90,396 Private label — 616 — 616 Obligations of states and political subdivisions thereof — 135,277 — 135,277 Corporate bonds — 36,118 — 36,118 Derivative assets — 1,215 7 1,222 Derivative liabilities — — (51 ) (51 ) December 31, 2017 Level 1 Level 2 Level 3 Total (in thousands) Inputs Inputs Inputs Fair Value Available for sale securities: Obligations of US Government sponsored enterprises $ — $ 6,972 $ — $ 6,972 Mortgage-backed securities: US Government-sponsored enterprises — 443,003 — 443,003 US Government agency — 95,596 — 95,596 Private label — 674 — 674 Obligations of states and political subdivisions thereof — 140,200 — 140,200 Corporate bonds — 30,797 — 30,797 Derivative assets — 669 — 669 Derivative liabilities (222 ) (222 ) Securities Available for Sale: All securities and major categories of securities classified as available for sale are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from independent pricing providers. The fair value measurements used by the pricing providers consider observable data may include dealer quotes, market maker quotes and live trading systems. If quoted prices are not readily available, fair values are determined using matrix pricing models, or other model-based valuation techniques requiring observable inputs other than quoted prices such as market pricing spreads, credit information, callable features, cash flows, the U.S. Treasury yield curve, trade execution data, market consensus prepayment speeds, default rates, and the securities’ terms and conditions, among other things. Derivative Assets and Liabilities Interest Rate Lock Commitments. The Company enters into IRLCs for residential mortgage loans, which commit the Company to lend funds to a potential borrower at a specific interest rate and within a specified period of time. The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. However, this value is adjusted by a factor which considers the likelihood of a loan in a lock position will ultimately close. The closing ratio is derived from the Bank’s internal data and is adjusted using significant management judgment. As such, IRLCs are classified as Level 3 measurements. Forward Sale Commitments . The Company utilizes forward sale commitments as economic hedges against potential changes in the values of the IRLCs and loans originated for sale. The fair values of the Company’s mandatory delivery loan sale commitments are determined similarly to the IRLCs using quoted prices in the market place that are observable. However, closing ratios included in the calculation are internally generated and are based on management’s judgment and prior experience, which are not considered observable factors. As such, mandatory delivery forward commitments are classified as Level 3 measurements. The table below presents the changes in Level 3 assets and liabilities that were measured at fair value on a recurring basis for the three months ended March 31, 2018 . Assets (Liabilities) Interest Rate Lock Forward (in thousands) Commitments Commitments Three Months Ended March 31, 2018 December 31, 2017 $ (1 ) $ (221 ) Realized gain recognized in non-interest income 8 170 March 31, 2018 $ 7 $ (51 ) Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities is as follows: (in thousands, except ratios) Fair Value Valuation Techniques Unobservable Inputs Significant Unobservable Input Value Assets (Liabilities) Interest Rate Lock Commitment $ 7 Historical trend Closing Ratio 90 % Pricing Model Origination Costs, per loan $ 1.7 Forward Commitments (51 ) Quoted prices for similar loans in active markets. Freddie Mac pricing system Pair-off contract price Total $ (44 ) Non-Recurring Fair Value Measurements The Company is required, on a non-recurring basis, to adjust the carrying value or provide valuation allowances for certain assets using fair value measurements in accordance with GAAP. The following is a summary of applicable non-recurring fair value measurements. There are no liabilities measured at fair value on a non-recurring basis. March 31, 2018 December 31, 2017 Three Months Ended March 31, 2018 Fair Value Measurement Date as of March 31, 2018 (in thousands) Level 3 Inputs Level 3 Total Gains (Losses) Level 3 Inputs Assets Impaired loans $ 15,127 $ 10,793 $ (4,334 ) March 2018 Capitalized servicing rights 4,695 4,158 March 2018 Other real estate owned 216 122 Jan 2017 - March 2018 Total $ 20,038 $ 15,073 (4,334 ) Quantitative information about the significant unobservable inputs within Level 3 non-recurring assets is as follows: Fair Value Range (Weighted Average) (a) (in thousands, except ratios) March 31, 2018 Valuation Techniques Unobservable Inputs Assets Impaired loans $ 13,364 Fair value of collateral -appraised value Loss severity 0% to 54% Appraised value $100 to $6,915 Impaired loans 1,763 Discount cash flow Discount rate 2.88% to 9.5% Cash flows $26 to $570 Capitalized servicing rights 4,695 Discounted cash flow Constant prepayment rate (CPR) 9.22 % Discount rate 10.10 % Other real estate owned 216 Fair value of collateral Appraised value $216 Total $ 20,038 (a) Where dollar amounts are disclosed, the amounts represent the lowest and highest fair value of the respective assets in the population except for adjustments for market/property conditions, which represents the range of adjustments to individuals properties. Fair Value Range (in thousands, except ratios) December 31, 2017 Valuation Techniques Unobservable Inputs (Weighted Average) (a) Assets Impaired loans $ 8,586 Fair value of collateral -appraised value Loss severity 15.7% to 45.28% Appraised value $100 to $7,545 Impaired loans 2,207 Discount cash flow Discount rate 2.63% to 9.50% Cash flows $6 to $320 Capitalized servicing rights 4,158 Discounted cash flow Constant prepayment rate (CPR) 10.97 % Discount rate 10.10 % Other real estate owned 122 Fair value of collateral Appraised value 122 Total $ 15,073 (a) Where dollar amounts are disclosed, the amounts represent the lowest and highest fair value of the respective assets in the population except for adjustments for market/property conditions, which represents the range of adjustments to individuals properties. There were no Level 1 or Level 2 non-recurring fair value measurements for the periods ended March 31, 2018 and December 31, 2017 . Impaired Loans. Loans are generally not recorded at fair value on a recurring basis. Periodically, the Company records non-recurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectible portions of those loans. Non-recurring adjustments can also include certain impairment amounts for collateral-dependent loans calculated when establishing the allowance for credit losses. Such amounts are generally based on the fair value of the underlying collateral supporting the loan and, as a result, the carrying value of the loan less the calculated valuation amount does not necessarily represent the fair value of the loan. Real estate collateral is typically valued using appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace. However, the choice of observable data is subject to significant judgment, and there are often adjustments based on judgment in order to make observable data comparable and to consider the impact of time, the condition of properties, interest rates, and other market factors on current values. Additionally, commercial real estate appraisals frequently involve discounting of projected cash flows, which relies inherently on unobservable data. Therefore, non-recurring fair value measurement adjustments relating to real estate collateral have generally been classified as Level 3. Estimates of fair value for other collateral supporting commercial loans are generally based on assumptions not observable in the marketplace and therefore such valuations have been classified as Level 3. Capitalized loan servicing rights . A loan servicing right asset represents the amount by which the present value of the estimated future net cash flows to be received from servicing loans exceed adequate compensation for performing the servicing. The fair value of servicing rights is estimated using a present value cash flow model. The most important assumptions used in the valuation model are the anticipated rate of the loan prepayments and discount rates. Adjustments are only recorded when the discounted cash flows derived from the valuation model are less than the carrying value of the asset. Although some assumptions in determining fair value are based on standards used by market participants, some are based on unobservable inputs and therefore are classified in Level 3 of the valuation hierarchy. Other real estate owned (“OREO”). OREO results from the foreclosure process on residential or commercial loans issued by the Bank. Upon assuming the real estate, the Company records the property at the fair value of the asset less the estimated sales costs. Thereafter, OREO properties are recorded at the lower of cost or fair value less the estimated sales costs. OREO fair values are primarily determined based on Level 3 data including sales comparables and appraisals. Summary of Estimated Fair Values of Financial Instruments. The estimated fair values, and related carrying amounts, of the Company’s financial instruments follow. Certain financial instruments and all non-financial instruments are excluded from disclosure requirements. Accordingly, the aggregate fair value amounts presented herein may not necessarily represent the underlying fair value of the Company. March 31, 2018 (in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 47,813 $ 47,813 $ 47,813 $ — $ — Securities available for sale 718,559 718,559 — 718,559 — FHLB bank stock 38,105 38,105 — 38,105 — Net loans 2,451,740 2,408,902 — — 2,408,902 Accrued interest receivable 3,243 3,243 — 3,243 — Cash surrender value of bank-owned life insurance policies 58,433 58,433 — 58,433 — Derivative assets 1,222 1,222 — 1,215 7 Financial Liabilities Total deposits $ 2,341,400 $ 2,260,874 $ — $ 2,260,874 $ — Securities sold under agreements to repurchase 31,615 31,589 — 31,589 — Federal Home Loan Bank advances 710,583 707,998 — 707,998 — Subordinated borrowings 38,018 38,018 — 38,018 — Junior subordinated borrowings 5,000 3,809 — 3,809 — Derivative liabilities (51 ) (51 ) — — (51 ) December 31, 2017 (in thousands) Carrying Fair Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 90,685 $ 90,685 $ 90,685 $ — $ — Securities available for sale 717,242 717,242 — 717,242 — FHLB bank stock 38,105 38,105 — 38,105 — Net loans 2,473,288 2,433,557 — — 2,433,557 Accrued interest receivable 3,347 3,347 — 3,347 — Cash surrender value of bank-owned life insurance policies 57,997 57,997 — 57,997 — Derivative assets 669 669 — 669 — Financial Liabilities Total deposits $ 2,352,085 $ 2,348,574 $ — $ 2,348,574 $ — Securities sold under agreements to repurchase 40,706 40,680 — 40,680 — Federal Home Loan Bank advances 745,982 744,006 — 744,006 — Subordinated borrowings 38,033 38,033 — 38,033 — Junior subordinated borrowings 5,000 3,782 — 3,782 — Derivative liabilities (222 ) (222 ) — — (222 ) Other than as discussed above, the following methods and assumptions were used by management to estimate the fair value of significant classes of financial instruments for which it is practicable to estimate that value. Cash and cash equivalents. Carrying value is assumed to represent fair value for cash and cash equivalents that have original maturities of 90 days or less. FHLB bank stock and restricted securities. Carrying value approximates fair value based on the redemption provisions of the issuers. Cash surrender value of life insurance policies. Carrying value approximates fair value. Loans, net. As of March 31, 2018, the fair value of loans were calculated on an individual basis with consideration given to the loans' underlying characteristics, including account types, remaining terms, annual interest rates or coupons, interest types, timing of principal and interest payments, current market rates, risk ratings, credit ratings and remaining balances. A discounted cash flow model is used to estimate the fair value of the loans using assumptions for the coupon rates, remaining maturities, prepayment speeds, liquidity premiums, projected default probabilities, losses given defaults, and estimates of prevailing discount rates. As of December 31, 2017, the fair value of loans was estimated by discounting future cash flows using the current interest rates at which similar loans with similar terms would be made to borrowers of similar credit quality. Accrued interest receivable. Carrying value approximates fair value. Deposits. The fair value of demand, non-interest bearing checking, savings and money market deposits is determined as the amount payable on demand at the reporting date. The fair value of time deposits is estimated by discounting the estimated future cash flows using market rates offered for deposits of similar remaining maturities. Borrowed funds. The fair value of borrowed funds is estimated by discounting the future cash flows using market rates for similar borrowings. Such funds include all categories of debt and debentures in the table above. Subordinated borrowings. The Company utilizes a pricing service along with internal models to estimate the valuation of its junior subordinated debentures. The junior subordinated debentures re-price every 90 days. Off-balance-sheet financial instruments. Off-balance-sheet financial instruments include standby letters of credit and other financial guarantees and commitments are considered immaterial to the Company’s financial statements. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2018 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS There were no significant subsequent events between March 31, 2018 and through the date the financial statements are available to be issued. |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | The consolidated financial statements (the “financial statements”) of Bar Harbor Bankshares and its subsidiaries (the “Company” or “Bar Harbor”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Bar Harbor Bankshares is a Maine Financial Institution Holding Company for the purposes of the laws of the state of Maine, and as such is subject to the jurisdiction of the Superintendent of the Maine Bureau of Financial Institutions. These financial statements include the accounts of the Company, its wholly-owned subsidiary Bar Harbor Bank & Trust (the "Bank") and the Bank’s consolidated subsidiaries. The results of operations of companies or assets acquired are included only from the dates of acquisition. All material wholly-owned and majority-owned subsidiaries are consolidated unless GAAP requires otherwise. In addition, these interim financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X, and accordingly, certain information and footnote disclosures normally included in financial statements prepared according to GAAP have been omitted. The results for any interim period are not necessarily indicative of results for the full year. These consolidated financial statements should be read in conjunction with the audited financial statements and note disclosures for the Company's Annual Report on Form 10-K for the year ended December 31, 2017 previously filed with the Securities and Exchange Commission (the "SEC"). In management's opinion, all adjustments necessary for a fair statement are reflected in the interim periods presented. |
Reclassifications | Reclassifications: Whenever necessary, amounts in the prior years’ financial statements are reclassified to conform to current presentation. The reclassifications had no impact on net income in the Company’s consolidated income statement. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The following table provides a brief description of recent accounting standards updates (ASU") that could have a material impact to the Company’s consolidated financial statements upon adoption: Standard Description Required Date of Adoption Effect on financial statements Standards Adopted in 2018 ASU 2014-09, Revenue from Contracts with Customers This ASU supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry topics of the Codification. The core principle of the ASU is an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU may be adopted either retrospectively or on a modified retrospective basis. January 1, 2018 The Company adopted this ASU as of January 1, 2018, upon completion of an analysis to identify all revenue streams within the scope of this accounting guidance. After reviewing the related contracts as prescribed by the five steps within this ASU, one contract resulted in recognition of a $241,000 liability with a $184,000 impact to retained earnings net of tax. The remaining changes had no material impact on the consolidated financial statements. See below for more detail and transitional disclosures. ASU 2015-14, Deferral of the Effective Date ASU 2016-08, Principal versus Agent Considerations ASU 2016-10, Identifying Performance Obligations and Licensing ASU 2016-12, Narrow-Scope Improvements and Practical Expedience ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers ASU 2016-01, Recognition and Measurement of Financial Assets and Liabilities This ASU amends ASC Topic 825, Financial Instruments-Overall, and addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Among other minor amendments applicable to the Company, the main provisions require investments in equity securities to be measured at fair value with changes in fair value recognized through net income unless they qualify for a practicability exception (excludes investments accounted for under the equity method of accounting or those that result in consolidation of the investee). Except for disclosure requirements that will be adopted prospectively, the ASU must be adopted on a modified retrospective basis. January 1, 2018 The Company adopted this ASU as of January 1, 2018, although it did not have any equity securities that would be in scope of this ASU. However, the Company is subject to the exit notion pricing required in fair value disclosures and after calculating the fair value, the Company had no material impact to its consolidated financial statements. ASU-2018-03, Technical Corrections and Improvements to Financial Instruments ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments This ASU amends Topic 230, Statement of Cash Flows, and provides clarification with respect to classification within the statement of cash flows where current guidance is unclear or silent. The ASU should be adopted retrospectively. If it is impractical to apply the guidance retrospectively for an issue, the amendments related to the issue would be applied prospectively. January 1, 2018 The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. ASU 2017-07, Compensation- Retirement Benefits This ASU amends Topic 715, Retirement Benefits, and provides more prescriptive guidance around the presentation of net period pension and postretirement benefit cost in the income statement. The amendment requires the service cost component be disaggregated from other components of net periodic benefit cost in the income statement. January 1, 2018 The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. Early adoption is permitted. Standard Description Required Date of Adoption Effect on financial statements Standards Adopted in 2018 (continued) ASU 2017-09, Stock Compensation: Scope of Modification Accounting This ASU amends Topic 718, Compensation- Stock Compensation, and clarifies when modification accounting should be applied to changes in terms or conditions of share-based payment awards. The amendments narrow the scope of modification accounting by clarifying that modification accounting should be applied to awards if the change affects the fair value, vesting conditions, or classification of the award. The amendments do not impact current disclosure requirements for modifications, regardless of whether modification accounting is required under the new guidance. January 1, 2018 The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income The ASU amends Topic 220, Income Statement-Reporting Comprehensive Income, and is intended to help organizations reclassify certain stranded income tax effects in accumulated other comprehensive income resulting from the recently enacted Tax Reform. The guidance allows entities to reclassify stranded tax effects in accumulated other comprehensive income to retained earnings. January 1, 2019 The Company adopted this ASU as of March 31, 2018. The effect of the reclassification resulted in an increase to retained earnings and a decrease to accumulated other comprehensive income of $980,000 with zero net effect on total stockholders' equity. ASU 2018-05, Income Taxes (Topic 740) SEC Amendments Early adoption is permitted. Standard Description Required Date of Adoption Effect on financial statements Standards Not Yet Adopted ASU 2016-02, Leases This ASU creates ASU Topic 842, Leases, and supersedes Topic 840, Leases. The new guidance requires lessees to record a right-of-use asset and a corresponding liability equal to the present value of future rental payments on their balance sheets for all leases with a term greater than one year. There are not significant changes to lessor accounting; however, there are certain improvements made to align lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. This guidance expands both quantitative and qualitative required disclosures. This ASU should be adopted on a modified retrospective basis. January 1, 2019 The Company is currently evaluating its operating lease arrangement under this ASU. Early indications suggest the Company will need to recognize right-of-use assets and lease liabilities for most of its operating lease commitments. ASU 2018-01, Leases (Topic 842) Land Easement Practical Expedient for Transition to Topic 842 Standard Description Required Date of Adoption Effect on financial statements Standards Not Yet Adopted (continued) ASU 2016-13, Measurement of Credit Losses on Financial Instruments This ASU amends Topic 326, Financial Instruments- Credit Losses to replace the current incurred loss accounting model with a current expected credit loss approach (CECL) for financial instruments measured at amortized cost and other commitments to extend credit. The amendments require entities to consider all available relevant information when estimating current expected credit losses, including details about past events, current conditions, and reasonable and supportable forecasts. The resulting allowance for credit losses is to reflect the portion of the amortized cost basis that the entity does not expect to collect. The amendments also eliminate the current accounting model for purchased credit impaired loans and debt securities. Additional quantitative and qualitative disclosures are required upon adoption. January 1, 2020 Adoption of this ASU is expected to primarily change how the Company estimates credit losses with the application of the expected credit loss model. In addition, the Company expects the ASU to change the presentation of credit losses for AFS debt securities through an allowance method rather than as a direct write-off. The Company is in the process of evaluating loan loss estimation models to comply with the guidance under this ASU, which may result in a higher credit loss estimate. While the CECL model does not apply to available for sale debt securities, the ASU does require entities to record an allowance when recognizing credit losses for AFS securities, rather than reduce the amortized cost of the securities by direct write-offs. The ASU should be adopted on a modified retrospective basis. Entities that have loans accounted for under ASC 310-30 at the time of adoption should prospectively apply the guidance in this amendment for purchase credit deteriorated assets. ASU 2017-04, Simplifying the Test for Goodwill Impairment This ASU amends Topic 350, Intangibles-Goodwill and Other, and eliminates Step 2 from the goodwill impairment test. January 1, 2020 Adoption of this ASU is not expected to have a material impact on the Company's consolidated financial statements. Early adoption is permitted. ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities This ASU amends ASC 815, Derivatives and Hedging to (1) improve the transparency and understandability of information conveyed to financial statement users about an entity's risk management activities by better aligning the entity's financial reporting for hedging relationships with those risk management activities and (2) reduce the complexity of and simplify the application of hedge accounting by preparers. January 1, 2019 Adoption of this ASU is not expected to have a material impact on the Company's consolidated financial statements. |
BASIS OF PRESENTATION (Tables)
BASIS OF PRESENTATION (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The following table provides a brief description of recent accounting standards updates (ASU") that could have a material impact to the Company’s consolidated financial statements upon adoption: Standard Description Required Date of Adoption Effect on financial statements Standards Adopted in 2018 ASU 2014-09, Revenue from Contracts with Customers This ASU supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry topics of the Codification. The core principle of the ASU is an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU may be adopted either retrospectively or on a modified retrospective basis. January 1, 2018 The Company adopted this ASU as of January 1, 2018, upon completion of an analysis to identify all revenue streams within the scope of this accounting guidance. After reviewing the related contracts as prescribed by the five steps within this ASU, one contract resulted in recognition of a $241,000 liability with a $184,000 impact to retained earnings net of tax. The remaining changes had no material impact on the consolidated financial statements. See below for more detail and transitional disclosures. ASU 2015-14, Deferral of the Effective Date ASU 2016-08, Principal versus Agent Considerations ASU 2016-10, Identifying Performance Obligations and Licensing ASU 2016-12, Narrow-Scope Improvements and Practical Expedience ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers ASU 2016-01, Recognition and Measurement of Financial Assets and Liabilities This ASU amends ASC Topic 825, Financial Instruments-Overall, and addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Among other minor amendments applicable to the Company, the main provisions require investments in equity securities to be measured at fair value with changes in fair value recognized through net income unless they qualify for a practicability exception (excludes investments accounted for under the equity method of accounting or those that result in consolidation of the investee). Except for disclosure requirements that will be adopted prospectively, the ASU must be adopted on a modified retrospective basis. January 1, 2018 The Company adopted this ASU as of January 1, 2018, although it did not have any equity securities that would be in scope of this ASU. However, the Company is subject to the exit notion pricing required in fair value disclosures and after calculating the fair value, the Company had no material impact to its consolidated financial statements. ASU-2018-03, Technical Corrections and Improvements to Financial Instruments ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments This ASU amends Topic 230, Statement of Cash Flows, and provides clarification with respect to classification within the statement of cash flows where current guidance is unclear or silent. The ASU should be adopted retrospectively. If it is impractical to apply the guidance retrospectively for an issue, the amendments related to the issue would be applied prospectively. January 1, 2018 The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. ASU 2017-07, Compensation- Retirement Benefits This ASU amends Topic 715, Retirement Benefits, and provides more prescriptive guidance around the presentation of net period pension and postretirement benefit cost in the income statement. The amendment requires the service cost component be disaggregated from other components of net periodic benefit cost in the income statement. January 1, 2018 The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. Early adoption is permitted. Standard Description Required Date of Adoption Effect on financial statements Standards Adopted in 2018 (continued) ASU 2017-09, Stock Compensation: Scope of Modification Accounting This ASU amends Topic 718, Compensation- Stock Compensation, and clarifies when modification accounting should be applied to changes in terms or conditions of share-based payment awards. The amendments narrow the scope of modification accounting by clarifying that modification accounting should be applied to awards if the change affects the fair value, vesting conditions, or classification of the award. The amendments do not impact current disclosure requirements for modifications, regardless of whether modification accounting is required under the new guidance. January 1, 2018 The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income The ASU amends Topic 220, Income Statement-Reporting Comprehensive Income, and is intended to help organizations reclassify certain stranded income tax effects in accumulated other comprehensive income resulting from the recently enacted Tax Reform. The guidance allows entities to reclassify stranded tax effects in accumulated other comprehensive income to retained earnings. January 1, 2019 The Company adopted this ASU as of March 31, 2018. The effect of the reclassification resulted in an increase to retained earnings and a decrease to accumulated other comprehensive income of $980,000 with zero net effect on total stockholders' equity. ASU 2018-05, Income Taxes (Topic 740) SEC Amendments Early adoption is permitted. Standard Description Required Date of Adoption Effect on financial statements Standards Not Yet Adopted ASU 2016-02, Leases This ASU creates ASU Topic 842, Leases, and supersedes Topic 840, Leases. The new guidance requires lessees to record a right-of-use asset and a corresponding liability equal to the present value of future rental payments on their balance sheets for all leases with a term greater than one year. There are not significant changes to lessor accounting; however, there are certain improvements made to align lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. This guidance expands both quantitative and qualitative required disclosures. This ASU should be adopted on a modified retrospective basis. January 1, 2019 The Company is currently evaluating its operating lease arrangement under this ASU. Early indications suggest the Company will need to recognize right-of-use assets and lease liabilities for most of its operating lease commitments. ASU 2018-01, Leases (Topic 842) Land Easement Practical Expedient for Transition to Topic 842 Standard Description Required Date of Adoption Effect on financial statements Standards Not Yet Adopted (continued) ASU 2016-13, Measurement of Credit Losses on Financial Instruments This ASU amends Topic 326, Financial Instruments- Credit Losses to replace the current incurred loss accounting model with a current expected credit loss approach (CECL) for financial instruments measured at amortized cost and other commitments to extend credit. The amendments require entities to consider all available relevant information when estimating current expected credit losses, including details about past events, current conditions, and reasonable and supportable forecasts. The resulting allowance for credit losses is to reflect the portion of the amortized cost basis that the entity does not expect to collect. The amendments also eliminate the current accounting model for purchased credit impaired loans and debt securities. Additional quantitative and qualitative disclosures are required upon adoption. January 1, 2020 Adoption of this ASU is expected to primarily change how the Company estimates credit losses with the application of the expected credit loss model. In addition, the Company expects the ASU to change the presentation of credit losses for AFS debt securities through an allowance method rather than as a direct write-off. The Company is in the process of evaluating loan loss estimation models to comply with the guidance under this ASU, which may result in a higher credit loss estimate. While the CECL model does not apply to available for sale debt securities, the ASU does require entities to record an allowance when recognizing credit losses for AFS securities, rather than reduce the amortized cost of the securities by direct write-offs. The ASU should be adopted on a modified retrospective basis. Entities that have loans accounted for under ASC 310-30 at the time of adoption should prospectively apply the guidance in this amendment for purchase credit deteriorated assets. ASU 2017-04, Simplifying the Test for Goodwill Impairment This ASU amends Topic 350, Intangibles-Goodwill and Other, and eliminates Step 2 from the goodwill impairment test. January 1, 2020 Adoption of this ASU is not expected to have a material impact on the Company's consolidated financial statements. Early adoption is permitted. ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities This ASU amends ASC 815, Derivatives and Hedging to (1) improve the transparency and understandability of information conveyed to financial statement users about an entity's risk management activities by better aligning the entity's financial reporting for hedging relationships with those risk management activities and (2) reduce the complexity of and simplify the application of hedge accounting by preparers. January 1, 2019 Adoption of this ASU is not expected to have a material impact on the Company's consolidated financial statements. The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption were as follows: (in thousands) Balance at December 31, 2017 Adjustments due to Topic 606 Balance at January 1, 2018 Balance Sheet Other Assets $ 24,389 $ 57 $ 24,446 Other Liabilities 28,737 241 28,978 Retained Earnings 144,977 (184 ) 144,793 The impact of the adoption on our consolidated March 31, 2018 balance sheet was as follows: (in thousands) As Reported Balances Without Adoption of ASC 606 Effect of Change Higher / (Lower) Balance Sheet Other Assets $ 29,793 $ 29,736 $ 57 Other Liabilities 32,214 28,694 254 Retained Earnings 150,701 150,885 (184 ) |
Disaggregation of Revenue | The following table disaggregates the Company’s revenue by major business line and timing of transfer of products or services: Three Months Ended March 31, (in thousands) 2018 Major Products/Service Lines Trust management fees $ 2,741 Financial services fees 221 Interchange fees 1,024 Customer deposit fees 979 Other customer service fees 221 Total $ 5,186 Three Months Ended March 31, (in thousands) 2018 Timing of Revenue Recognition Products and services transferred at a point in time $ 2,351 Products and services transferred over time 2,835 Total $ 5,186 |
Contract with Customer, Asset and Liability | The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers. (in thousands) Balance at March 31, 2018 Balance at December 31, 2017 Balances from contracts with customers only: Other Assets $ 4,175 $ 972 Other Liabilities 3,774 342 |
SECURITIES AVAILABLE FOR SALE (
SECURITIES AVAILABLE FOR SALE (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of securities available for sale | The following is a summary of securities available for sale: (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2018 Securities available for sale Debt securities: Obligations of US Government sponsored enterprises $ 6,982 $ 1 $ 6 $ 6,977 Mortgage-backed securities: US Government-sponsored enterprises 459,601 838 11,264 449,175 US Government agency 92,286 275 2,165 90,396 Private label 484 137 5 616 Obligations of states and political subdivisions thereof 136,244 1,079 2,046 135,277 Corporate bonds 36,405 161 448 36,118 Total securities available for sale $ 732,002 $ 2,491 $ 15,934 $ 718,559 December 31, 2017 Securities available for sale Debt securities: Obligations of US Government sponsored enterprises $ 6,967 $ 5 $ — $ 6,972 Mortgage-backed securities: US Government-sponsored enterprises 447,081 1,738 5,816 443,003 US Government agency 96,357 413 1,174 95,596 Private label 529 150 5 674 Obligations of states and political subdivisions thereof 138,522 2,407 729 140,200 Corporate bonds 30,527 323 53 30,797 Total securities available for sale $ 719,983 $ 5,036 $ 7,777 $ 717,242 |
Schedule of amortized cost and estimated fair value of available for sale (AFS) securities, segregated by contractual maturity | The amortized cost and estimated fair value of available for sale (“AFS”) securities segregated by contractual maturity at March 31, 2018 are presented below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Mortgage-backed securities are shown in total, as their maturities are highly variable. Available for sale (in thousands) Amortized Cost Fair Value Within 1 year $ 7,012 $ 7,007 Over 1 year to 5 years 15,718 15,521 Over 5 years to 10 years 46,614 46,574 Over 10 years 110,287 109,270 Total bonds and obligations 179,631 178,372 Mortgage-backed securities 552,371 540,187 Total securities available for sale $ 732,002 $ 718,559 |
Schedule of securities with unrealized losses, segregated by the duration of their continuous unrealized loss positions | Securities with unrealized losses, segregated by the duration of their continuous unrealized loss positions, are summarized as follows: Less Than Twelve Months Over Twelve Months Total (In thousands) Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Fair March 31, 2018 Securities available for sale Debt securities: Obligations of US Government sponsored enterprises $ 6 $ 3,978 $ — $ — $ 6 $ 3,978 Mortgage-backed securities: US Government-sponsored enterprises 5,388 267,678 5,876 117,825 11,264 385,503 US Government agency 1,168 49,816 997 28,727 2,165 78,543 Private label — 1 5 56 5 57 Obligations of states and political subdivisions thereof 475 39,618 1,571 26,759 2,046 66,377 Corporate bonds 448 25,549 — — 448 25,549 Total securities available for sale $ 7,485 $ 386,640 $ 8,449 $ 173,367 $ 15,934 $ 560,007 December 31, 2017 Securities available for sale Debt securities: Mortgage-backed securities: US Government-sponsored enterprises $ 1,895 $ 189,486 $ 3,921 $ 117,156 $ 5,816 $ 306,642 US Government agency 559 45,221 615 30,155 1,174 75,376 Private label — 8 5 130 5 138 Obligations of states and political subdivisions thereof 58 8,298 671 27,727 729 36,025 Corporate bonds 53 8,943 — — 53 8,943 Total securities available for sale $ 2,565 $ 251,956 $ 5,212 $ 175,168 $ 7,777 $ 427,124 |
Schedule of other than temporary impairment losses | Three Months Ended March 31, 2018 2017 Estimated credit losses as of prior year end $ 1,697 $ 1,697 Reductions for securities paid off during the period — — Estimated credit losses at end of the period $ 1,697 $ 1,697 |
LOANS (Tables)
LOANS (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Loans | The following is a summary of total loans: March 31, 2018 December 31, 2017 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Commercial Real Estate: Construction and land development $ 31,073 $ 14,800 $ 45,873 $ 28,892 $ 16,781 $ 45,673 Other commercial real estate 512,093 266,755 778,848 505,119 275,954 781,073 Total Commercial Real Estate 543,166 281,555 824,721 534,011 292,735 826,746 Commercial and Industrial: Other Commercial 210,304 65,198 275,502 198,051 68,069 266,120 Agricultural 26,309 — 26,309 27,588 — 27,588 Tax exempt 43,092 42,302 85,394 42,365 43,350 85,715 Total Commercial and Industrial 279,705 107,500 387,205 268,004 111,419 379,423 Total Commercial Loans 822,871 389,055 1,211,926 802,015 404,154 1,206,169 Residential Real Estate: Residential mortgages 588,465 544,512 1,132,977 591,411 564,271 1,155,682 Total Residential Real Estate 588,465 544,512 1,132,977 591,411 564,271 1,155,682 Consumer: Home equity 52,100 57,766 109,866 51,376 62,217 113,593 Other consumer 7,580 2,070 9,650 7,828 2,341 10,169 Total Consumer 59,680 59,836 119,516 59,204 64,558 123,762 Total Loans $ 1,471,016 $ 993,403 $ 2,464,419 $ 1,452,630 $ 1,032,983 $ 2,485,613 |
Schedule of Activity in the Accretable Yield for the Acquired Loan Portfolio that Falls Under the Review of ASC 310-30, Accounting for Certain Loans or Debt Securities Acquired in a Transfer | The following table summarizes activity in the accretable yield for the acquired loan portfolio that falls under the purview of ASC 310-30, Accounting for Certain Loans or Debt Securities Acquired in a Transfer: Three Months Ended March 31, (in thousands) 2018 2017 Balance at beginning of period $ 3,509 $ — Acquisitions — 3,398 Reclassification from nonaccretable difference for loans with improved cash flows 199 — Changes in expected cash flows that do not affect the nonaccretable difference — — Reclassification to troubled debt restructurings — — Accretion (361 ) (204 ) Balance at end of period $ 3,347 $ 3,194 |
Summary of Past Due Loans | The following is a summary of past due loans at March 31, 2018 and December 31, 2017 : Business Activities Loans (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans Past Due > 90 days and Accruing March 31, 2018 Commercial Real Estate: Construction and land development $ — $ 2 $ 566 $ 568 $ 30,505 $ 31,073 $ — Other commercial real estate 1,008 158 6,656 7,822 504,271 512,093 — Total Commercial Real Estate 1,008 160 7,222 8,390 534,776 543,166 — Commercial and Industrial: Other Commercial 829 12 506 1,347 208,957 210,304 — Agricultural 39 88 101 228 26,081 26,309 2 Tax exempt — — — — 43,092 43,092 — Total Commercial and Industrial 868 100 607 1,575 278,130 279,705 2 Total Commercial Loans 1,876 260 7,829 9,965 812,906 822,871 2 Residential Real Estate: Residential mortgages 624 810 3,772 5,206 583,259 588,465 — Total Residential Real Estate 624 810 3,772 5,206 583,259 588,465 — Consumer: Home equity 174 28 349 551 51,549 52,100 — Other consumer 132 2 — 134 7,446 7,580 — Total Consumer 306 30 349 685 58,995 59,680 — Total Loans $ 2,806 $ 1,100 $ 11,950 $ 15,856 $ 1,455,160 $ 1,471,016 $ 2 Business Activities Loans (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans Past Due > 90 days and Accruing December 31, 2017 Commercial Real Estate: Construction and land development $ — $ — $ 637 $ 637 $ 28,255 $ 28,892 $ — Other commercial real estate 965 1,659 5,065 7,689 497,430 505,119 119 Total Commercial Real Estate 965 1,659 5,702 8,326 525,685 534,011 119 Commercial and Industrial: Other Commercial 186 329 702 1,217 196,834 198,051 21 Agricultural 42 159 198 399 27,189 27,588 155 Tax exempt — — — — 42,365 42,365 — Total Commercial and Industrial 228 488 900 1,616 266,388 268,004 176 Total Commercial Loans 1,193 2,147 6,602 9,942 792,073 802,015 295 Residential Real Estate: Residential mortgages 3,096 711 975 4,782 586,629 591,411 — Total Residential Real Estate 3,096 711 975 4,782 586,629 591,411 — Consumer: Home equity 515 — 199 714 50,662 51,376 199 Other consumer 36 24 — 60 7,768 7,828 — Total Consumer 551 24 199 774 58,430 59,204 199 Total Loans $ 4,840 $ 2,882 $ 7,776 $ 15,498 $ 1,437,132 $ 1,452,630 $ 494 Acquired Loans (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Acquired Credit Impaired Total Loans Past Due > 90 days and Accruing March 31, 2018 Commercial Real Estate: Construction and land development $ — $ — $ — $ — $ 260 $ 14,800 $ — Other commercial real estate 411 — 305 716 8,350 266,755 — Total Commercial Real Estate 411 — 305 716 8,610 281,555 — Commercial and Industrial: Other Commercial 208 97 148 453 459 65,198 — Agricultural — — — — — — — Tax exempt — — — — — 42,302 — Total Commercial and Industrial 208 97 148 453 459 107,500 — Total Commercial Loans 619 97 453 1,169 9,069 389,055 — Residential Real Estate: Residential mortgages 1,376 204 771 2,351 3,168 544,512 — Total Residential Real Estate 1,376 204 771 2,351 3,168 544,512 — Consumer: Home equity 292 46 80 418 25 57,766 — Other consumer 3 — — 3 3 2,070 — Total Consumer 295 46 80 421 28 59,836 — Total Loans $ 2,290 $ 347 $ 1,304 $ 3,941 $ 12,265 $ 993,403 $ — Acquired Loans (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Acquired Credit Impaired Total Loans Past Due > 90 days and Accruing December 31, 2017 Commercial Real Estate: Construction and land development $ 124 $ 9 $ — $ 133 $ 258 $ 16,781 $ — Other commercial real estate 278 — 411 689 8,397 275,954 — Total Commercial Real Estate 402 9 411 822 8,655 292,735 — Commercial and Industrial: Other Commercial 125 14 49 188 632 68,069 — Agricultural — — — — — — — Tax exempt — — — — — 43,350 — Total Commercial and Industrial 125 14 49 188 632 111,419 — Total Commercial Loans 527 23 460 1,010 9,287 404,154 — Residential Real Estate: Residential mortgages 752 388 614 1,754 3,259 564,271 — Total Residential Real Estate 752 388 614 1,754 3,259 564,271 — Consumer: Home equity 125 117 80 322 38 62,217 16 Other consumer 2 — — 2 3 2,341 — Total Consumer 127 117 80 324 41 64,558 16 Total Loans $ 1,406 $ 528 $ 1,154 $ 3,088 $ 12,587 $ 1,032,983 $ 16 |
Summary of Information Pertaining to Non-Accrual Loans | The following is summary information pertaining to non-accrual loans at March 31, 2018 and December 31, 2017 : March 31, 2018 December 31, 2017 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Commercial Real Estate: Construction and land development $ 566 $ — $ 566 $ 637 $ — $ 637 Other commercial real estate 7,401 455 7,856 7,146 560 7,706 Total Commercial Real Estate 7,967 455 8,422 7,783 560 8,343 Commercial and Industrial: Other Commercial 1,532 528 2,060 703 463 1,166 Agricultural 244 — 244 43 — 43 Tax exempt — — — — — — Total Commercial and Industrial 1,776 528 2,304 746 463 1,209 Total Commercial Loans 9,743 983 10,726 8,529 1,023 9,552 Residential Real Estate: Residential mortgages 6,527 2,021 8,548 3,408 858 4,266 Total Residential Real Estate 6,527 2,021 8,548 3,408 858 4,266 Consumer: Home equity 624 277 901 130 217 347 Other consumer 109 55 164 95 58 153 Total Consumer 733 332 1,065 225 275 500 Total Loans $ 17,003 $ 3,336 $ 20,339 $ 12,162 $ 2,156 $ 14,318 |
Schedule of Loans Evaluated for Impairment | Loans evaluated for impairment as of March 31, 2018 and December 31, 2017 were as follows: Business Activities Loans (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total March 31, 2018 Loans receivable: Balance at end of period Individually evaluated for impairment $ 7,641 $ 1,504 $ 4,386 $ 362 $ 13,893 Collectively evaluated 535,525 278,201 584,079 59,318 1,457,123 Total $ 543,166 $ 279,705 $ 588,465 $ 59,680 $ 1,471,016 Business Activities Loans (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total December 31, 2017 Loans receivable: Balance at end of period Individually evaluated for impairment $ 7,604 $ 626 $ 1,404 $ 13 $ 9,647 Collectively evaluated 526,407 267,378 590,007 59,191 1,442,983 Total $ 534,011 $ 268,004 $ 591,411 $ 59,204 $ 1,452,630 Acquired Loans (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total March 31, 2018 Loans receivable: Balance at end of period Individually evaluated for impairment $ 133 $ 598 $ 503 $ — $ 1,234 Purchased Credit Impaired 8,610 459 3,168 28 12,265 Collectively evaluated 272,812 106,443 540,841 59,808 979,904 Total $ 281,555 $ 107,500 $ 544,512 $ 59,836 $ 993,403 Acquired Loans (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total December 31, 2017 Loans receivable: Balance at end of period Individually evaluated for impairment $ 241 $ 571 $ 271 $ 63 $ 1,146 Purchased Credit Impaired 8,655 632 3,259 41 12,587 Collectively evaluated 283,839 110,216 560,741 64,454 1,019,250 Total $ 292,735 $ 111,419 $ 564,271 $ 64,558 $ 1,032,983 |
Summary of Impaired Loans | The following is a summary of impaired loans at March 31, 2018 and December 31, 2017 : Business Activities Loans March 31, 2018 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ 566 $ 2,491 $ — Commercial real estate other 5,933 5,944 — Commercial other 962 966 — Agricultural — — — Tax exempt loans — — — Residential real estate 3,586 3,603 — Home equity 362 463 — Consumer other — — — With an allowance recorded: Construction and land development $ — $ — $ — Commercial real estate other 1,142 1,204 433 Commercial other 542 544 132 Agricultural — — — Tax exempt loans — — — Residential real estate 800 801 84 Home equity — — — Consumer other — — — Total Commercial real estate $ 7,641 $ 9,639 $ 433 Commercial and industrial 1,504 1,510 132 Residential real estate 4,386 4,404 84 Consumer 362 463 — Total impaired loans $ 13,893 $ 16,016 $ 649 Acquired Loans March 31, 2018 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Commercial real estate other 133 245 — Commercial other 176 175 — Agricultural — — — Tax exempt loans — — — Residential real estate 503 507 — Home equity — — — Consumer other — — — With an allowance recorded: Construction and land development $ — $ — $ — Commercial real estate other — — — Commercial other 422 436 121 Agricultural — — — Tax exempt loans — — — Residential real estate — — — Home equity — — — Consumer other — — — Total Commercial real estate $ 133 $ 245 $ — Commercial and industrial 598 611 121 Residential real estate 503 507 — Consumer — — — Total impaired loans $ 1,234 $ 1,363 $ 121 Business Activities Loans December 31, 2017 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Commercial real estate other 5,896 5,903 — Commercial other 218 217 — Agricultural — — — Tax exempt loans — — — Residential real estate 1,247 1,260 — Home equity 13 13 — Consumer other — — — With an allowance recorded: Construction and land development $ 637 $ 2,563 $ 59 Commercial real estate other 1,071 1,132 388 Commercial other 408 408 3 Agricultural — — — Tax exempt loans — — — Residential real estate 157 157 9 Home equity — — — Consumer other — — — Total Commercial real estate $ 7,604 $ 9,598 $ 447 Commercial and industrial 626 625 3 Residential real estate 1,404 1,417 9 Consumer 13 13 — Total impaired loans $ 9,647 $ 11,653 $ 459 Acquired Loans December 31, 2017 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Other commercial real estate 241 352 — Other commercial 571 584 — Agricultural — — — Tax exempt — — — Residential mortgages 271 278 — Home equity 63 156 — Other consumer — — — With an allowance recorded: Construction and land development $ — $ — $ — Other commercial real estate — — — Other commercial — — — Agricultural — — — Tax exempt — — — Residential mortgages — — — Home equity — — — Other consumer — — — Total Commercial real estate $ 241 $ 352 $ — Commercial and industrial 571 584 — Residential real estate 271 278 — Consumer 63 156 — Total impaired loans $ 1,146 $ 1,370 $ — |
Summary of the Average Recorded Investment and Interest Income Recognized on Impaired Loans | The following is a summary of the average recorded investment and interest income recognized on impaired loans as of March 31, 2018 and 2017 : Business Activities Loans Three Months Ended March 31, 2018 Three Months Ended March 31, 2017 (in thousands) Average Recorded Investment Cash Basis Interest Income Recognized Average Recorded Investment Cash Basis Interest Income Recognized With no related allowance: Construction and land development $ 589 $ — $ — $ — Commercial real estate other 5,937 — 2,592 34 Commercial other 1,334 — 226 3 Agricultural — — 192 2 Tax exempt loans — — — — Residential real estate 3,591 — 1,500 22 Home equity 444 — 590 — Consumer other — — 44 1 With an allowance recorded: Construction and land development $ — $ — $ — $ — Commercial real estate other 1,144 — 1,723 — Commercial other 187 — 216 — Agricultural — — — — Tax exempt loans — — — — Residential real estate 802 — 321 — Home equity — — — — Consumer other — — 9 — Total Commercial real estate $ 7,670 $ — $ 4,315 $ 34 Commercial and industrial 1,521 — 634 5 Residential real estate 4,393 — 1,821 22 Consumer 444 — 643 1 Total impaired loans $ 14,028 $ — $ 7,413 $ 62 Acquired Loans Three Months Ended March 31, 2018 Three Months Ended March 31, 2017 (in thousands) Average Recorded Investment Cash Basis Interest Income Recognized Average Recorded Investment Cash Basis Interest Income Recognized With no related allowance: Construction and land development $ — $ — $ — $ — Commercial real estate other 133 — — — Commercial other 161 1 — — Agricultural — — — — Tax exempt loans — — — — Residential real estate 508 — — — Home equity — — — — Consumer other — — — — With an allowance recorded: Construction and land development $ — $ — $ — $ — Commercial real estate other — — — — Commercial other 434 — — — Agricultural — — — — Tax exempt loans — — — — Residential real estate — — — — Home equity — — — — Consumer other — — — — Total Commercial real estate $ 133 $ — $ — $ — Commercial and industrial 595 1 — — Residential real estate 508 — — — Consumer — — — — Total impaired loans $ 1,236 $ 1 $ — $ — |
Schedule of Recorded Investment and Number of Modifications for TDRs Identified During the Period | The following tables include the recorded investment and number of modifications identified during the three months ended March 31, 2018 and for the three months ended March 31, 2017 , respectively. The table includes the recorded investment in the loans prior to a modification and also the recorded investment in the loans after the loans were restructured. The modifications for the three months ended March 31, 2018 were attributable to interest rate concessions, maturity date extensions, reamortization or a combination of two concessions. The modifications for the three months ending March 31, 2017 were attributable to interest rate concessions, maturity date extensions, or a combination of both. Three Months Ended March 31, 2018 (Dollars in thousands) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Commercial installment 2 $ 452 $ 448 Agricultural 1 2 2 Commercial real estate 1 167 — Residential real estate 5 1,105 1,099 Consumer other 1 1 1 Total 10 $ 1,727 $ 1,550 Three Months Ended March 31, 2017 (Dollars in thousands) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Commercial installment 1 $ 80 $ 80 Residential real estate 2 575 574 Consumer other 1 38 37 Total 4 $ 693 $ 691 |
LOAN LOSS ALLOWANCE (Tables)
LOAN LOSS ALLOWANCE (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Activity in the Allowance for Loan Losses | Activity in the allowance for loan losses for the three months ended March 31, 2018 and 2017 was as follows: Business Activities Loans At or for the Three Months Ended March 31, 2018 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 6,037 $ 2,373 $ 3,357 $ 386 $ 12,153 Charged-off loans — (84 ) — (170 ) (254 ) Recoveries on charged-off loans 15 2 1 2 20 Provision/(releases) for loan losses (54 ) 321 (54 ) 282 495 Balance at end of period $ 5,998 $ 2,612 $ 3,304 $ 500 $ 12,414 Individually evaluated for impairment 433 132 84 — 649 Collectively evaluated 5,565 2,480 3,220 500 11,765 Total $ 5,998 $ 2,612 $ 3,304 $ 500 $ 12,414 Business Activities Loans At or for the Three Months Ended March 31, 2017 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 5,145 $ 1,952 $ 2,721 $ 601 $ 10,419 Charged-off loans (107 ) (17 ) (199 ) (21 ) (344 ) Recoveries on charged-off loans 4 — 1 9 14 Provision/(releases) for loan losses 265 208 283 39 795 Balance at end of period $ 5,307 $ 2,143 $ 2,806 $ 628 $ 10,884 Individually evaluated for impairment 302 172 45 8 527 Collectively evaluated 5,005 1,971 2,761 620 10,357 Total $ 5,307 $ 2,143 $ 2,806 $ 628 $ 10,884 Acquired Loans At or for the Three Months Ended March 31, 2018 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 97 $ 16 $ 59 $ — $ 172 Charged-off loans (106 ) (58 ) — (43 ) (207 ) Recoveries on charged-off loans — — — — — Provision/(releases) for loan losses 92 166 (1 ) 43 300 Balance at end of period $ 83 $ 124 $ 58 $ — $ 265 Individually evaluated for impairment — 121 — — 121 Collectively evaluated 83 3 58 — 144 Total $ 83 $ 124 $ 58 $ — $ 265 |
Schedule of Loans by Risk Rating | The following tables present the Company’s loans by risk rating at March 31, 2018 and December 31, 2017 : Business Activities Loans Commercial Real Estate Credit Risk Profile by Creditworthiness Category Construction and land development Commercial real estate other Total commercial real estate (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Grade: Pass $ 30,433 $ 28,180 $ 489,702 $ 483,711 $ 520,135 $ 511,891 Special mention 73 73 7,740 5,706 7,813 5,779 Substandard 567 639 14,651 15,702 15,218 16,341 Total $ 31,073 $ 28,892 $ 512,093 $ 505,119 $ 543,166 $ 534,011 Commercial and Industrial Credit Risk Profile by Creditworthiness Category Commercial other Agricultural Tax exempt loans Total commercial and industrial (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Grade: Pass $ 206,217 $ 194,147 $ 25,700 $ 27,046 $ 42,935 $ 42,208 $ 274,852 $ 263,401 Special mention 2,115 1,933 68 63 157 157 2,340 2,153 Substandard 1,972 1,971 541 479 — — 2,513 2,450 Total $ 210,304 $ 198,051 $ 26,309 $ 27,588 $ 43,092 $ 42,365 $ 279,705 $ 268,004 Residential Real Estate and Consumer Loans Credit Risk Profile Based on Payment Activity Residential real estate Home equity Other consumer Total Residential real estate and consumer (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Performing $ 581,938 $ 588,003 $ 51,476 $ 51,246 $ 7,471 $ 7,733 $ 640,885 $ 646,982 Nonperforming 6,527 3,408 624 130 109 95 7,260 3,633 Total $ 588,465 $ 591,411 $ 52,100 $ 51,376 $ 7,580 $ 7,828 $ 648,145 $ 650,615 Acquired Loans Commercial Real Estate Credit Risk Profile by Creditworthiness Category Commercial construction and land development Commercial real estate other Total commercial real estate (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Grade: Pass $ 14,436 $ 16,523 $ 256,806 $ 266,477 $ 271,242 $ 283,000 Special mention 81 235 2,543 2,440 2,624 2,675 Substandard 283 23 7,406 7,037 7,689 7,060 Total $ 14,800 $ 16,781 $ 266,755 $ 275,954 $ 281,555 $ 292,735 Commercial and Industrial Credit Risk Profile by Creditworthiness Category Commercial other Agricultural Tax exempt loans Total commercial and industrial (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Grade: Pass $ 58,199 $ 60,300 $ — $ — $ 42,302 $ 43,350 $ 100,501 $ 103,650 Special mention 5,003 5,753 — — — — 5,003 5,753 Substandard 1,996 2,016 — — — — 1,996 2,016 Total $ 65,198 $ 68,069 $ — $ — $ 42,302 $ 43,350 $ 107,500 $ 111,419 Residential Real Estate and Consumer Loans Credit Risk Profile Based on Payment Activity Residential real estate Home equity Other consumer Total Residential real estate and consumer (in thousands) Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Performing $ 541,464 $ 562,516 $ 57,490 $ 62,000 $ 2,015 $ 2,283 $ 600,969 $ 626,799 Nonperforming 3,049 1,755 277 217 55 58 3,381 2,030 Total $ 544,513 $ 564,271 $ 57,767 $ 62,217 $ 2,070 $ 2,341 $ 604,350 $ 628,829 |
Summary of Information About Total Loans Rated Special Mention or Lower | The following table summarizes information about total classified and criticized loans loans as of March 31, 2018 and December 31, 2017 : March 31, 2018 December 31, 2017 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Non-accrual $ 17,003 $ 3,336 $ 20,339 $ 12,140 $ 2,156 $ 14,296 Substandard accruing 7,988 6,145 14,133 10,284 7,833 18,117 Total classified 24,991 9,481 34,472 22,424 9,989 32,413 Special mention 10,153 7,627 17,780 7,932 8,428 16,360 Total Criticized $ 35,144 $ 17,108 $ 52,252 $ 30,356 $ 18,417 $ 48,773 |
BORROWED FUNDS (Tables)
BORROWED FUNDS (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Borrowed Funds | Borrowed funds at March 31, 2018 and December 31, 2017 are summarized, as follows: March 31, 2018 December 31, 2017 (dollars in thousands) Carrying Value Weighted Average Rate Carrying Value Weighted Average Rate Short-term borrowings Advances from the FHLB $ 567,372 1.80 % $ 608,792 1.49 % Other borrowings 31,615 0.89 40,706 0.59 Total short-term borrowings 598,987 1.75 649,498 1.43 Long-term borrowings Advances from the FHLB 143,211 1.83 137,190 1.72 Subordinated borrowings 38,018 5.36 38,033 4.88 Junior subordinated borrowings 5,000 5.41 5,000 4.89 Total long-term borrowings 186,229 2.65 180,223 2.47 Total $ 785,216 1.96 % $ 829,721 1.66 % |
Summary of Maturities of FHLBB Advances | A summary of maturities of FHLB advances as of March 31, 2018 is as follows: March 31, 2018 (in thousands, except rates) Carrying Value Weighted Average Rate Fixed rate advances maturing: 2018 $ 531,680 1.78 % 2019 146,661 1.88 2020 29,929 1.88 2021 1,637 2.35 2022 — — 2023 and thereafter 676 2.87 Total FHLB advances $ 710,583 1.81 % |
DEPOSITS (Tables)
DEPOSITS (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Deposits [Abstract] | |
Summary of Time Deposits | A summary of time deposits is as follows: (in thousands) March 31, 2018 December 31, 2017 Time less than $100,000 $ 587,046 $ 579,856 Time $100,000 or more 297,802 286,490 Total time deposits $ 884,848 $ 866,346 |
Time Deposit Maturities | At March 31, 2018 and December 31, 2017 , the scheduled maturities by year for time deposits were as follows: (in thousands) March 31, 2018 December 31, 2017 Within 1 year $ 474,956 $ 406,295 Over 1 year to 2 years 274,329 305,895 Over 2 years to 3 years 102,272 115,878 Over 3 years to 4 years 13,647 24,459 Over 4 years to 5 years 19,617 13,685 Over 5 years 27 134 Total $ 884,848 $ 866,346 |
CAPITAL RATIOS AND SHAREHOLDE27
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Actual and Required Capital Ratios | The actual and required capital ratios were as follows: March 31, 2018 Regulatory Minimum to be "Well Capitalized" December 31, 2017 Regulatory Minimum to be "Well Capitalized" Company (consolidated) Total capital to risk weighted assets 13.9 % 10.5 % 13.7 % 10.5 % Common equity tier 1 capital to risk weighted assets 11.4 6.5 11.3 6.5 Tier 1 capital to risk weighted assets 12.3 8.0 12.2 8.0 Tier 1 capital to average assets 8.2 5.0 8.1 5.0 Bank Total capital to risk weighted assets 13.7 % 10.5 % 13.7 % 10.5 % Common equity tier 1 capital to risk weighted assets 12.9 6.5 12.9 6.5 Tier 1 capital to risk weighted assets 12.9 8.0 12.9 8.0 Tier 1 capital to average assets 8.6 5.0 8.6 5.0 |
Schedule of Components of Accumulated Other Comprehensive Income | Components of accumulated other comprehensive income is as follows: (in thousands) March 31, 2018 December 31, 2017 Other accumulated comprehensive income (loss), before tax: Net unrealized loss on AFS securities $ (13,443 ) $ (2,741 ) Net unrealized loss on effective cash flow hedging derivatives (2,934 ) (3,588 ) Net unrealized loss on post-retirement plans (905 ) (946 ) Income taxes related to items of accumulated other comprehensive loss: Net unrealized loss on AFS securities 3,211 1,030 Net unrealized loss on effective cash flow hedging derivatives 698 1,338 Net unrealized loss on post-retirement plans 217 353 Accumulated other comprehensive loss $ (13,156 ) $ (4,554 ) |
Schedule of Components of Other Comprehensive Income | The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2018 and 2017 : (in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2018 Net unrealized gain on AFS securities: Net unrealized gain arising during the period $ (10,702 ) $ 2,550 $ (8,152 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on AFS securities (10,702 ) 2,550 (8,152 ) Net unrealized loss on derivative hedges: Net unrealized loss arising during the period 654 (155 ) 499 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on derivative hedges 654 (155 ) 499 Net unrealized loss on post-retirement plans: Net unrealized loss arising during the period 41 (10 ) 31 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on post-retirement plans 41 (10 ) 31 Other comprehensive loss $ (10,007 ) $ 2,385 $ (7,622 ) Three Months Ended March 31, 2017 Net unrealized gain on AFS securities: Net unrealized gain arising during the period $ 1,116 $ (348 ) $ 768 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on AFS securities 1,116 (348 ) 768 Net unrealized loss on derivative hedges: Net unrealized loss arising during the period (223 ) 83 (140 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on derivative hedges (223 ) 83 (140 ) Net unrealized loss on post-retirement plans: Net unrealized loss arising during the period 57 (21 ) 36 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on post-retirement plans 57 (21 ) 36 Other comprehensive income (loss) $ 950 $ (286 ) $ 664 |
Schedule of Gross Changes in Each Component of Accumulated Other Comprehensive Income | The following table presents the changes in each component of accumulated other comprehensive income (loss), for the three months ended March 31, 2018 and 2017 : (in thousands) Net unrealized holding gain on AFS Securities Net loss on effective cash flow hedging derivatives Net unrealized holding loss on pension plans Total Three Months Ended March 31, 2018 Balance at beginning of period $ (1,713 ) $ (2,250 ) $ (591 ) $ (4,554 ) Other comprehensive gain/(loss) before reclassifications (8,152 ) 499 31 (7,622 ) Less: amounts reclassified from accumulated other comprehensive income for ASU 2018-02 (367 ) (485 ) (128 ) (980 ) Total other comprehensive loss (8,519 ) 14 (97 ) (8,602 ) Balance at end of period $ (10,232 ) $ (2,236 ) $ (688 ) $ (13,156 ) Three Months Ended March 31, 2017 Balance at beginning of period $ (2,125 ) $ (1,798 ) $ (403 ) $ (4,326 ) Other comprehensive gain/(loss) before reclassifications 768 (140 ) 36 664 Less: amounts reclassified from accumulated other comprehensive income — — — — Total other comprehensive loss 768 (140 ) 36 664 Balance at end of period $ (1,357 ) $ (1,938 ) $ (367 ) $ (3,662 ) |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share | Earnings per share have been computed based on the following (average diluted shares outstanding are calculated using the treasury stock method): Three Months Ended March 31, (in thousands, except per share and share data) 2018 2017 Net income $ 7,812 $ 4,211 Average number of basic common shares outstanding 15,448,338 14,471,147 Plus: dilutive effect of stock options and awards outstanding 104,631 120,126 Average number of diluted common shares outstanding 15,552,969 14,591,273 Anti-dilutive options excluded from earnings calculation 1,230 — Earnings per share: Basic $ 0.51 $ 0.29 Diluted $ 0.50 $ 0.29 |
DERIVATIVE FINANCIAL INSTRUME29
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of information about derivative assets and liabilities | Information about derivative assets and liabilities at March 31, 2018 and December 31, 2017 , was as follows: March 31, 2018 Notional Amount Weighted Average Maturity Estimated Fair Value Asset (Liability) (in thousands) (in years) (in thousands) Cash flow hedges: Interest rate caps agreements $ 90,000 4.9 $ 1,215 Total cash flow hedges 90,000 4.9 1,215 Economic hedges: Forward sale commitments 5,658 0.2 (51 ) Total economic hedges 5,658 0.2 (51 ) Non-hedging derivatives: Interest rate lock commitments 4,375 0.2 7 Total non-hedging derivatives 4,375 0.2 7 Total $ 100,033 $ 1,171 December 31, 2017 Notional Amount Weighted Average Maturity Estimated Fair Value Asset (Liability) (in thousands) (in years) (in thousands) Cash flow hedges: Interest rate caps agreements $ 90,000 5.1 $ 669 Total cash flow hedges 90,000 5.1 669 Economic hedges: Forward sale commitments 20,352 0.2 (221 ) Total economic hedges 20,352 0.2 (221 ) Non-hedging derivatives: Interest rate lock commitments 19,853 0.2 (1 ) Total non-hedging derivatives 19,853 0.2 (1 ) Total $ 130,205 $ 447 Information about derivative assets and liabilities for the three months ended March 31, 2018 and 2017 , was as follows: Three Months Ended March 31, (in thousands) 2018 2017 Cash flow hedges: Interest rate cap agreements Realized (loss) in interest expense $ (108 ) $ (39 ) Economic hedges: Forward commitments Realized gain/(loss) in other non-interest income 170 (78 ) Non-hedging derivatives: Interest rate lock commitments Realized gain in other non-interest income 8 2 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Summary of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis Segregated by the Level of the Valuation Inputs Within the Fair Value Hierarchy Utilized to Measure Fair Value | The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value. March 31, 2018 Level 1 Level 2 Level 3 Total (in thousands) Inputs Inputs Inputs Fair Value Available for sale securities: Obligations of US Government sponsored enterprises $ — $ 6,977 $ — $ 6,977 Mortgage-backed securities: US Government-sponsored enterprises — 449,175 — 449,175 US Government agency — 90,396 — 90,396 Private label — 616 — 616 Obligations of states and political subdivisions thereof — 135,277 — 135,277 Corporate bonds — 36,118 — 36,118 Derivative assets — 1,215 7 1,222 Derivative liabilities — — (51 ) (51 ) December 31, 2017 Level 1 Level 2 Level 3 Total (in thousands) Inputs Inputs Inputs Fair Value Available for sale securities: Obligations of US Government sponsored enterprises $ — $ 6,972 $ — $ 6,972 Mortgage-backed securities: US Government-sponsored enterprises — 443,003 — 443,003 US Government agency — 95,596 — 95,596 Private label — 674 — 674 Obligations of states and political subdivisions thereof — 140,200 — 140,200 Corporate bonds — 30,797 — 30,797 Derivative assets — 669 — 669 Derivative liabilities (222 ) (222 ) |
Schedule of Changes in Level 3 Assets and Liabilities That Were Measured at Fair Value on a Recurring Basis | The table below presents the changes in Level 3 assets and liabilities that were measured at fair value on a recurring basis for the three months ended March 31, 2018 . Assets (Liabilities) Interest Rate Lock Forward (in thousands) Commitments Commitments Three Months Ended March 31, 2018 December 31, 2017 $ (1 ) $ (221 ) Realized gain recognized in non-interest income 8 170 March 31, 2018 $ 7 $ (51 ) |
Schedule of Quantitative Information About the Significant Unobservable Inputs Within Level 3 | Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities is as follows: (in thousands, except ratios) Fair Value Valuation Techniques Unobservable Inputs Significant Unobservable Input Value Assets (Liabilities) Interest Rate Lock Commitment $ 7 Historical trend Closing Ratio 90 % Pricing Model Origination Costs, per loan $ 1.7 Forward Commitments (51 ) Quoted prices for similar loans in active markets. Freddie Mac pricing system Pair-off contract price Total $ (44 ) Quantitative information about the significant unobservable inputs within Level 3 non-recurring assets is as follows: Fair Value Range (Weighted Average) (a) (in thousands, except ratios) March 31, 2018 Valuation Techniques Unobservable Inputs Assets Impaired loans $ 13,364 Fair value of collateral -appraised value Loss severity 0% to 54% Appraised value $100 to $6,915 Impaired loans 1,763 Discount cash flow Discount rate 2.88% to 9.5% Cash flows $26 to $570 Capitalized servicing rights 4,695 Discounted cash flow Constant prepayment rate (CPR) 9.22 % Discount rate 10.10 % Other real estate owned 216 Fair value of collateral Appraised value $216 Total $ 20,038 (a) Where dollar amounts are disclosed, the amounts represent the lowest and highest fair value of the respective assets in the population except for adjustments for market/property conditions, which represents the range of adjustments to individuals properties. Fair Value Range (in thousands, except ratios) December 31, 2017 Valuation Techniques Unobservable Inputs (Weighted Average) (a) Assets Impaired loans $ 8,586 Fair value of collateral -appraised value Loss severity 15.7% to 45.28% Appraised value $100 to $7,545 Impaired loans 2,207 Discount cash flow Discount rate 2.63% to 9.50% Cash flows $6 to $320 Capitalized servicing rights 4,158 Discounted cash flow Constant prepayment rate (CPR) 10.97 % Discount rate 10.10 % Other real estate owned 122 Fair value of collateral Appraised value 122 Total $ 15,073 (a) Where dollar amounts are disclosed, the amounts represent the lowest and highest fair value of the respective assets in the population except for adjustments for market/property conditions, which represents the range of adjustments to individuals properties. |
Summary of Applicable Non-Recurring Fair Value Measurements | The following is a summary of applicable non-recurring fair value measurements. There are no liabilities measured at fair value on a non-recurring basis. March 31, 2018 December 31, 2017 Three Months Ended March 31, 2018 Fair Value Measurement Date as of March 31, 2018 (in thousands) Level 3 Inputs Level 3 Total Gains (Losses) Level 3 Inputs Assets Impaired loans $ 15,127 $ 10,793 $ (4,334 ) March 2018 Capitalized servicing rights 4,695 4,158 March 2018 Other real estate owned 216 122 Jan 2017 - March 2018 Total $ 20,038 $ 15,073 (4,334 ) |
Summary of Estimated Fair Values, and Related Carrying Amounts, of Financial Instruments | The estimated fair values, and related carrying amounts, of the Company’s financial instruments follow. Certain financial instruments and all non-financial instruments are excluded from disclosure requirements. Accordingly, the aggregate fair value amounts presented herein may not necessarily represent the underlying fair value of the Company. March 31, 2018 (in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 47,813 $ 47,813 $ 47,813 $ — $ — Securities available for sale 718,559 718,559 — 718,559 — FHLB bank stock 38,105 38,105 — 38,105 — Net loans 2,451,740 2,408,902 — — 2,408,902 Accrued interest receivable 3,243 3,243 — 3,243 — Cash surrender value of bank-owned life insurance policies 58,433 58,433 — 58,433 — Derivative assets 1,222 1,222 — 1,215 7 Financial Liabilities Total deposits $ 2,341,400 $ 2,260,874 $ — $ 2,260,874 $ — Securities sold under agreements to repurchase 31,615 31,589 — 31,589 — Federal Home Loan Bank advances 710,583 707,998 — 707,998 — Subordinated borrowings 38,018 38,018 — 38,018 — Junior subordinated borrowings 5,000 3,809 — 3,809 — Derivative liabilities (51 ) (51 ) — — (51 ) December 31, 2017 (in thousands) Carrying Fair Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 90,685 $ 90,685 $ 90,685 $ — $ — Securities available for sale 717,242 717,242 — 717,242 — FHLB bank stock 38,105 38,105 — 38,105 — Net loans 2,473,288 2,433,557 — — 2,433,557 Accrued interest receivable 3,347 3,347 — 3,347 — Cash surrender value of bank-owned life insurance policies 57,997 57,997 — 57,997 — Derivative assets 669 669 — 669 — Financial Liabilities Total deposits $ 2,352,085 $ 2,348,574 $ — $ 2,348,574 $ — Securities sold under agreements to repurchase 40,706 40,680 — 40,680 — Federal Home Loan Bank advances 745,982 744,006 — 744,006 — Subordinated borrowings 38,033 38,033 — 38,033 — Junior subordinated borrowings 5,000 3,782 — 3,782 — Derivative liabilities (222 ) (222 ) — — (222 ) |
BASIS OF PRESENTATION - Tax Cut
BASIS OF PRESENTATION - Tax Cuts and Jobs Act (Details) $ in Millions | 3 Months Ended |
Dec. 31, 2017USD ($) | |
Revenue from Contract with Customer [Abstract] | |
Remeasurement of net deferred tax asset resulting in additional income tax expense | $ 4 |
BASIS OF PRESENTATION - Recent
BASIS OF PRESENTATION - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Contract liability recognition | $ 241 | ||
Reclassification of the income tax effects of the Tax Cuts and Jobs Act from accumulated other comprehensive income for adoption of ASU 2018-02 | (980) | ||
Accounting Standards Update 2014-09 | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Modified retrospective basis adoption of Revenue Recognition Accounting Codification Standard 606 | $ (184) | ||
Retained earnings | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Reclassification of the income tax effects of the Tax Cuts and Jobs Act from accumulated other comprehensive income for adoption of ASU 2018-02 | $ 980 | ||
Retained earnings | Accounting Standards Update 2014-09 | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Modified retrospective basis adoption of Revenue Recognition Accounting Codification Standard 606 | $ (184) | $ (184) |
BASIS OF PRESENTATION - Revenue
BASIS OF PRESENTATION - Revenue from Contracts with Customer (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Disaggregation of Revenue [Line Items] | |||
Deferred tax assets, net | $ 9,627 | $ 7,180 | |
Accounting Standards Update 2014-09 | |||
Disaggregation of Revenue [Line Items] | |||
Deferred tax assets, net | $ 57 | ||
Modified retrospective basis adoption of Revenue Recognition Accounting Codification Standard 606 | $ 184 |
BASIS OF PRESENTATION - Financi
BASIS OF PRESENTATION - Financial Statement Impact (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Other assets | $ 29,793 | $ 24,446 | $ 24,389 |
Other liabilities | 32,214 | 28,978 | 28,737 |
Retained earnings | 150,701 | 144,793 | 144,977 |
Balances Without Adoption of ASC 606 | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Other assets | 29,736 | 24,389 | |
Other liabilities | 28,694 | 28,737 | |
Retained earnings | 150,885 | $ 144,977 | |
Adjustments due to Topic 606 | Accounting Standards Update 2014-09 | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Other assets | 57 | 57 | |
Other liabilities | 254 | 241 | |
Retained earnings | $ (184) | $ (184) |
BASIS OF PRESENTATION - Disaggr
BASIS OF PRESENTATION - Disaggregation of Revenue (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Disaggregation of Revenue [Line Items] | |
Revenue | $ 5,186 |
Trust management fees | |
Disaggregation of Revenue [Line Items] | |
Revenue | 2,741 |
Financial services fees | |
Disaggregation of Revenue [Line Items] | |
Revenue | 221 |
Interchange fees | |
Disaggregation of Revenue [Line Items] | |
Revenue | 1,024 |
Customer deposit fees | |
Disaggregation of Revenue [Line Items] | |
Revenue | 979 |
Other customer service fees | |
Disaggregation of Revenue [Line Items] | |
Revenue | $ 221 |
BASIS OF PRESENTATION - Timing
BASIS OF PRESENTATION - Timing of Revenue Recognition (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Disaggregation of Revenue [Line Items] | |
Revenue | $ 5,186 |
Products and services transferred at a point in time | |
Disaggregation of Revenue [Line Items] | |
Revenue | 2,351 |
Products and services transferred over time | |
Disaggregation of Revenue [Line Items] | |
Revenue | $ 2,835 |
BASIS OF PRESENTATION - Contrac
BASIS OF PRESENTATION - Contract Balances from Contracts with Customers (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Balances from contracts with customers only: | ||
Other Assets | $ 4,175 | $ 972 |
Other Liabilities | $ 3,774 | $ 342 |
SECURITIES AVAILABLE FOR SALE -
SECURITIES AVAILABLE FOR SALE - Summary of Securities Available for Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Available-for-sale securities, amortized cost basis | $ 732,002 | $ 719,983 |
Gross Unrealized Gains | 2,491 | 5,036 |
Gross Unrealized Losses | 15,934 | 7,777 |
Fair Value | 718,559 | 717,242 |
Obligations of US Government sponsored enterprises | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Available-for-sale securities, amortized cost basis | 6,982 | 6,967 |
Gross Unrealized Gains | 1 | 5 |
Gross Unrealized Losses | 6 | 0 |
Fair Value | 6,977 | 6,972 |
US Government-sponsored enterprises | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Available-for-sale securities, amortized cost basis | 459,601 | 447,081 |
Gross Unrealized Gains | 838 | 1,738 |
Gross Unrealized Losses | 11,264 | 5,816 |
Fair Value | 449,175 | 443,003 |
US Government agency | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Available-for-sale securities, amortized cost basis | 92,286 | 96,357 |
Gross Unrealized Gains | 275 | 413 |
Gross Unrealized Losses | 2,165 | 1,174 |
Fair Value | 90,396 | 95,596 |
Private label | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Available-for-sale securities, amortized cost basis | 484 | 529 |
Gross Unrealized Gains | 137 | 150 |
Gross Unrealized Losses | 5 | 5 |
Fair Value | 616 | 674 |
Obligations of states and political subdivisions thereof | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Available-for-sale securities, amortized cost basis | 136,244 | 138,522 |
Gross Unrealized Gains | 1,079 | 2,407 |
Gross Unrealized Losses | 2,046 | 729 |
Fair Value | 135,277 | 140,200 |
Corporate bonds | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Available-for-sale securities, amortized cost basis | 36,405 | 30,527 |
Gross Unrealized Gains | 161 | 323 |
Gross Unrealized Losses | 448 | 53 |
Fair Value | $ 36,118 | $ 30,797 |
SECURITIES AVAILABLE FOR SALE39
SECURITIES AVAILABLE FOR SALE - Schedule of Maturity of Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available for sale, Amortized Cost | ||
Within 1 year | $ 7,012 | |
Over 1 year to 5 years | 15,718 | |
Over 5 years to 10 years | 46,614 | |
Over 10 years | 110,287 | |
Total bonds and obligations | 179,631 | |
Mortgage-backed securities | 552,371 | |
Available-for-sale securities, amortized cost basis | 732,002 | $ 719,983 |
Available for sale, Fair Value | ||
Within 1 year | 7,007 | |
Over 1 year to 5 years | 15,521 | |
Over 5 years to 10 years | 46,574 | |
Over 10 years | 109,270 | |
Total bonds and obligations | 178,372 | |
Mortgage-backed securities | 540,187 | |
Total securities available for sale | $ 718,559 | $ 717,242 |
SECURITIES AVAILABLE FOR SALE40
SECURITIES AVAILABLE FOR SALE - Summary of Securities with Unrealized Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Gross Unrealized Losses | ||
Less Than Twelve Months | $ 7,485 | $ 2,565 |
Over Twelve Months | 8,449 | 5,212 |
Total | 15,934 | 7,777 |
Fair Value | ||
Less Than Twelve Months | 386,640 | 251,956 |
Over Twelve Months | 173,367 | 175,168 |
Total | 560,007 | 427,124 |
Obligations of US Government sponsored enterprises | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 6 | |
Over Twelve Months | 0 | |
Total | 6 | |
Fair Value | ||
Less Than Twelve Months | 3,978 | |
Over Twelve Months | 0 | |
Total | 3,978 | |
US Government-sponsored enterprises | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 5,388 | 1,895 |
Over Twelve Months | 5,876 | 3,921 |
Total | 11,264 | 5,816 |
Fair Value | ||
Less Than Twelve Months | 267,678 | 189,486 |
Over Twelve Months | 117,825 | 117,156 |
Total | 385,503 | 306,642 |
US Government agency | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 1,168 | 559 |
Over Twelve Months | 997 | 615 |
Total | 2,165 | 1,174 |
Fair Value | ||
Less Than Twelve Months | 49,816 | 45,221 |
Over Twelve Months | 28,727 | 30,155 |
Total | 78,543 | 75,376 |
Private label | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 0 | 0 |
Over Twelve Months | 5 | 5 |
Total | 5 | 5 |
Fair Value | ||
Less Than Twelve Months | 1 | 8 |
Over Twelve Months | 56 | 130 |
Total | 57 | 138 |
Obligations of states and political subdivisions thereof | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 475 | 58 |
Over Twelve Months | 1,571 | 671 |
Total | 2,046 | 729 |
Fair Value | ||
Less Than Twelve Months | 39,618 | 8,298 |
Over Twelve Months | 26,759 | 27,727 |
Total | 66,377 | 36,025 |
Corporate bonds | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 448 | 53 |
Over Twelve Months | 0 | 0 |
Total | 448 | 53 |
Fair Value | ||
Less Than Twelve Months | 25,549 | 8,943 |
Over Twelve Months | 0 | 0 |
Total | $ 25,549 | $ 8,943 |
SECURITIES AVAILABLE FOR SALE41
SECURITIES AVAILABLE FOR SALE - Securities Impairment (Details) - Available-for-sale Securities - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Estimated credit losses as of prior year end | $ 1,697 | |
Reductions for securities paid off during the period | 0 | $ 0 |
Estimated credit losses at end of the period | $ 1,697 | $ 1,697 |
SECURITIES AVAILABLE FOR SALE42
SECURITIES AVAILABLE FOR SALE - Narrative (Details) | 3 Months Ended |
Mar. 31, 2018USD ($)securityshares | |
Bar Harbor Bank & Trust | Visa Class B | |
Investment Holdings [Line Items] | |
Carrying value of investment | $ | $ 0 |
Number of Visa Class shares owned (in shares) | shares | 11,623 |
Bar Harbor Bank & Trust | Visa Class A | |
Investment Holdings [Line Items] | |
Number of Visa Class shares owned (in shares) | shares | 19,158 |
Conversion ratio, Visa Class | 1.648 |
Obligations of US Government sponsored enterprises | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 1 |
Available for sale securities portfolio, number of securities (security) | 2 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 0.10% |
US Government-sponsored enterprises | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 455 |
Available for sale securities portfolio, number of securities (security) | 781 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 2.80% |
US Government agency | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 117 |
Available for sale securities portfolio, number of securities (security) | 203 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 2.70% |
Private label | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 6 |
Available for sale securities portfolio, number of securities (security) | 26 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 7.90% |
Obligations of states and political subdivisions thereof | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 122 |
Available for sale securities portfolio, number of securities (security) | 262 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 3.00% |
Corporate bonds | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 9 |
Available for sale securities portfolio, number of securities (security) | 16 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 1.70% |
LOANS - Summary of Total Loans
LOANS - Summary of Total Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | $ 2,464,419 | $ 2,485,613 |
Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 1,471,016 | 1,452,630 |
Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 993,403 | 1,032,983 |
Total Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 824,721 | 826,746 |
Total Commercial Real Estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 543,166 | 534,011 |
Total Commercial Real Estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 281,555 | 292,735 |
Total Commercial Real Estate | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 45,873 | 45,673 |
Total Commercial Real Estate | Construction and land development | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 31,073 | 28,892 |
Total Commercial Real Estate | Construction and land development | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 14,800 | 16,781 |
Total Commercial Real Estate | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 778,848 | 781,073 |
Total Commercial Real Estate | Other commercial real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 512,093 | 505,119 |
Total Commercial Real Estate | Other commercial real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 266,755 | 275,954 |
Total Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 387,205 | 379,423 |
Total Commercial and Industrial | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 279,705 | 268,004 |
Total Commercial and Industrial | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 107,500 | 111,419 |
Total Commercial and Industrial | Other Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 275,502 | 266,120 |
Total Commercial and Industrial | Other Commercial | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 210,304 | 198,051 |
Total Commercial and Industrial | Other Commercial | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 65,198 | 68,069 |
Total Commercial and Industrial | Agricultural | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 26,309 | 27,588 |
Total Commercial and Industrial | Agricultural | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 26,309 | 27,588 |
Total Commercial and Industrial | Agricultural | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 0 | 0 |
Total Commercial and Industrial | Tax exempt | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 85,394 | 85,715 |
Total Commercial and Industrial | Tax exempt | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 43,092 | 42,365 |
Total Commercial and Industrial | Tax exempt | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 42,302 | 43,350 |
Total Commercial Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 1,211,926 | 1,206,169 |
Total Commercial Loans | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 822,871 | 802,015 |
Total Commercial Loans | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 389,055 | 404,154 |
Total Residential Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 1,132,977 | 1,155,682 |
Total Residential Real Estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 588,465 | 591,411 |
Total Residential Real Estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 544,512 | 564,271 |
Total Residential Real Estate | Residential mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 1,132,977 | 1,155,682 |
Total Residential Real Estate | Residential mortgages | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 588,465 | 591,411 |
Total Residential Real Estate | Residential mortgages | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 544,512 | 564,271 |
Total Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 119,516 | 123,762 |
Total Consumer | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 59,680 | 59,204 |
Total Consumer | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 59,836 | 64,558 |
Total Consumer | Home equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 109,866 | 113,593 |
Total Consumer | Home equity | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 52,100 | 51,376 |
Total Consumer | Home equity | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 57,766 | 62,217 |
Total Consumer | Other consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 9,650 | 10,169 |
Total Consumer | Other consumer | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | 7,580 | 7,828 |
Total Consumer | Other consumer | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, gross | $ 2,070 | $ 2,341 |
LOANS - Narrative (Details)
LOANS - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 2,464,419 | $ 2,485,613 |
Borrower's sustained repayment performance period | 6 months | |
Residential Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Foreclosed property | $ 216 | 122 |
Total residential loans included in held for sale loans | 4,800 | 13,400 |
Residential Real Estate | Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Process of foreclosure | 1,600 | 843 |
Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 993,403 | 1,032,983 |
Acquired credit impaired | 12,100 | |
Certain loans acquired in transfer not accounted for as debt securities, note balance, net | 16,600 | |
Financing receivable not considered impaired at time of acquisition | 981,300 | |
Acquired Loans | Residential Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 544,512 | $ 564,271 |
LOANS - Accretable Yield Activi
LOANS - Accretable Yield Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Balance at beginning of period | $ 3,509 | $ 0 |
Acquisitions | 0 | 3,398 |
Reclassification from nonaccretable difference for loans with improved cash flows | 199 | 0 |
Accretion | (361) | (204) |
Balance at end of period | $ 3,347 | $ 3,194 |
LOANS - Summary of Past Due Loa
LOANS - Summary of Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | $ 2,464,419 | $ 2,485,613 |
Business Activities Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15,856 | 15,498 |
Current | 1,455,160 | 1,437,132 |
Total loans | 1,471,016 | 1,452,630 |
Past Due 90 days and Accruing | 2 | 494 |
Business Activities Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,806 | 4,840 |
Business Activities Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,100 | 2,882 |
Business Activities Loans | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 11,950 | 7,776 |
Business Activities Loans | Total Commercial Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,390 | 8,326 |
Current | 534,776 | 525,685 |
Total loans | 543,166 | 534,011 |
Past Due 90 days and Accruing | 0 | 119 |
Business Activities Loans | Total Commercial Real Estate | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 568 | 637 |
Current | 30,505 | 28,255 |
Total loans | 31,073 | 28,892 |
Past Due 90 days and Accruing | 0 | 0 |
Business Activities Loans | Total Commercial Real Estate | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,822 | 7,689 |
Current | 504,271 | 497,430 |
Total loans | 512,093 | 505,119 |
Past Due 90 days and Accruing | 0 | 119 |
Business Activities Loans | Total Commercial Real Estate | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,008 | 965 |
Business Activities Loans | Total Commercial Real Estate | 30-59 Days Past Due | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Business Activities Loans | Total Commercial Real Estate | 30-59 Days Past Due | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,008 | 965 |
Business Activities Loans | Total Commercial Real Estate | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 160 | 1,659 |
Business Activities Loans | Total Commercial Real Estate | 60-89 Days Past Due | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2 | 0 |
Business Activities Loans | Total Commercial Real Estate | 60-89 Days Past Due | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 158 | 1,659 |
Business Activities Loans | Total Commercial Real Estate | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,222 | 5,702 |
Business Activities Loans | Total Commercial Real Estate | 90 Days or Greater Past Due | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 566 | 637 |
Business Activities Loans | Total Commercial Real Estate | 90 Days or Greater Past Due | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,656 | 5,065 |
Business Activities Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,575 | 1,616 |
Current | 278,130 | 266,388 |
Total loans | 279,705 | 268,004 |
Past Due 90 days and Accruing | 2 | 176 |
Business Activities Loans | Commercial and industrial | Other Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,347 | 1,217 |
Current | 208,957 | 196,834 |
Total loans | 210,304 | 198,051 |
Past Due 90 days and Accruing | 0 | 21 |
Business Activities Loans | Commercial and industrial | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 228 | 399 |
Current | 26,081 | 27,189 |
Total loans | 26,309 | 27,588 |
Past Due 90 days and Accruing | 2 | 155 |
Business Activities Loans | Commercial and industrial | Tax exempt | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 43,092 | 42,365 |
Total loans | 43,092 | 42,365 |
Past Due 90 days and Accruing | 0 | 0 |
Business Activities Loans | Commercial and industrial | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 868 | 228 |
Business Activities Loans | Commercial and industrial | 30-59 Days Past Due | Other Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 829 | 186 |
Business Activities Loans | Commercial and industrial | 30-59 Days Past Due | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 39 | 42 |
Business Activities Loans | Commercial and industrial | 30-59 Days Past Due | Tax exempt | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Business Activities Loans | Commercial and industrial | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 100 | 488 |
Business Activities Loans | Commercial and industrial | 60-89 Days Past Due | Other Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 12 | 329 |
Business Activities Loans | Commercial and industrial | 60-89 Days Past Due | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 88 | 159 |
Business Activities Loans | Commercial and industrial | 60-89 Days Past Due | Tax exempt | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Business Activities Loans | Commercial and industrial | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 607 | 900 |
Business Activities Loans | Commercial and industrial | 90 Days or Greater Past Due | Other Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 506 | 702 |
Business Activities Loans | Commercial and industrial | 90 Days or Greater Past Due | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 101 | 198 |
Business Activities Loans | Commercial and industrial | 90 Days or Greater Past Due | Tax exempt | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Business Activities Loans | Total Commercial Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9,965 | 9,942 |
Current | 812,906 | 792,073 |
Total loans | 822,871 | 802,015 |
Past Due 90 days and Accruing | 2 | 295 |
Business Activities Loans | Total Commercial Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,876 | 1,193 |
Business Activities Loans | Total Commercial Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 260 | 2,147 |
Business Activities Loans | Total Commercial Loans | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,829 | 6,602 |
Business Activities Loans | Residential Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,206 | 4,782 |
Current | 583,259 | 586,629 |
Total loans | 588,465 | 591,411 |
Past Due 90 days and Accruing | 0 | 0 |
Business Activities Loans | Residential Real Estate | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,206 | 4,782 |
Current | 583,259 | 586,629 |
Total loans | 588,465 | 591,411 |
Past Due 90 days and Accruing | 0 | 0 |
Business Activities Loans | Residential Real Estate | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 624 | 3,096 |
Business Activities Loans | Residential Real Estate | 30-59 Days Past Due | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 624 | 3,096 |
Business Activities Loans | Residential Real Estate | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 810 | 711 |
Business Activities Loans | Residential Real Estate | 60-89 Days Past Due | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 810 | 711 |
Business Activities Loans | Residential Real Estate | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,772 | 975 |
Business Activities Loans | Residential Real Estate | 90 Days or Greater Past Due | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,772 | 975 |
Business Activities Loans | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 685 | 774 |
Current | 58,995 | 58,430 |
Total loans | 59,680 | 59,204 |
Past Due 90 days and Accruing | 0 | 199 |
Business Activities Loans | Consumer | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 551 | 714 |
Current | 51,549 | 50,662 |
Total loans | 52,100 | 51,376 |
Past Due 90 days and Accruing | 0 | 199 |
Business Activities Loans | Consumer | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 134 | 60 |
Current | 7,446 | 7,768 |
Total loans | 7,580 | 7,828 |
Past Due 90 days and Accruing | 0 | 0 |
Business Activities Loans | Consumer | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 306 | 551 |
Business Activities Loans | Consumer | 30-59 Days Past Due | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 174 | 515 |
Business Activities Loans | Consumer | 30-59 Days Past Due | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 132 | 36 |
Business Activities Loans | Consumer | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 30 | 24 |
Business Activities Loans | Consumer | 60-89 Days Past Due | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 28 | 0 |
Business Activities Loans | Consumer | 60-89 Days Past Due | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2 | 24 |
Business Activities Loans | Consumer | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 349 | 199 |
Business Activities Loans | Consumer | 90 Days or Greater Past Due | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 349 | 199 |
Business Activities Loans | Consumer | 90 Days or Greater Past Due | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,941 | 3,088 |
Acquired Credit Impaired | 12,265 | 12,587 |
Total loans | 993,403 | 1,032,983 |
Past Due 90 days and Accruing | 0 | 16 |
Acquired Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,290 | 1,406 |
Acquired Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 347 | 528 |
Acquired Loans | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,304 | 1,154 |
Acquired Loans | Total Commercial Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 716 | 822 |
Acquired Credit Impaired | 8,610 | 8,655 |
Total loans | 281,555 | 292,735 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Total Commercial Real Estate | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 133 |
Acquired Credit Impaired | 260 | 258 |
Total loans | 14,800 | 16,781 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Total Commercial Real Estate | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 716 | 689 |
Acquired Credit Impaired | 8,350 | 8,397 |
Total loans | 266,755 | 275,954 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Total Commercial Real Estate | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 411 | 402 |
Acquired Loans | Total Commercial Real Estate | 30-59 Days Past Due | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 124 |
Acquired Loans | Total Commercial Real Estate | 30-59 Days Past Due | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 411 | 278 |
Acquired Loans | Total Commercial Real Estate | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 9 |
Acquired Loans | Total Commercial Real Estate | 60-89 Days Past Due | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 9 |
Acquired Loans | Total Commercial Real Estate | 60-89 Days Past Due | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Total Commercial Real Estate | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 305 | 411 |
Acquired Loans | Total Commercial Real Estate | 90 Days or Greater Past Due | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Total Commercial Real Estate | 90 Days or Greater Past Due | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 305 | 411 |
Acquired Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 453 | 188 |
Acquired Credit Impaired | 459 | 632 |
Total loans | 107,500 | 111,419 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Commercial and industrial | Other Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 453 | 188 |
Acquired Credit Impaired | 459 | 632 |
Total loans | 65,198 | 68,069 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Commercial and industrial | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Credit Impaired | 0 | 0 |
Total loans | 0 | 0 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Commercial and industrial | Tax exempt | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Credit Impaired | 0 | 0 |
Total loans | 42,302 | 43,350 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Commercial and industrial | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 208 | 125 |
Acquired Loans | Commercial and industrial | 30-59 Days Past Due | Other Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 208 | 125 |
Acquired Loans | Commercial and industrial | 30-59 Days Past Due | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial and industrial | 30-59 Days Past Due | Tax exempt | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial and industrial | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 97 | 14 |
Acquired Loans | Commercial and industrial | 60-89 Days Past Due | Other Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 97 | 14 |
Acquired Loans | Commercial and industrial | 60-89 Days Past Due | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial and industrial | 60-89 Days Past Due | Tax exempt | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial and industrial | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 148 | 49 |
Acquired Loans | Commercial and industrial | 90 Days or Greater Past Due | Other Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 148 | 49 |
Acquired Loans | Commercial and industrial | 90 Days or Greater Past Due | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial and industrial | 90 Days or Greater Past Due | Tax exempt | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Total Commercial Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,169 | 1,010 |
Acquired Credit Impaired | 9,069 | 9,287 |
Total loans | 389,055 | 404,154 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Total Commercial Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 619 | 527 |
Acquired Loans | Total Commercial Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 97 | 23 |
Acquired Loans | Total Commercial Loans | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 453 | 460 |
Acquired Loans | Residential Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,351 | 1,754 |
Acquired Credit Impaired | 3,168 | 3,259 |
Total loans | 544,512 | 564,271 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Residential Real Estate | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,351 | 1,754 |
Acquired Credit Impaired | 3,168 | 3,259 |
Total loans | 544,512 | 564,271 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Residential Real Estate | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,376 | 752 |
Acquired Loans | Residential Real Estate | 30-59 Days Past Due | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,376 | 752 |
Acquired Loans | Residential Real Estate | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 204 | 388 |
Acquired Loans | Residential Real Estate | 60-89 Days Past Due | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 204 | 388 |
Acquired Loans | Residential Real Estate | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 771 | 614 |
Acquired Loans | Residential Real Estate | 90 Days or Greater Past Due | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 771 | 614 |
Acquired Loans | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 421 | 324 |
Acquired Credit Impaired | 28 | 41 |
Total loans | 59,836 | 64,558 |
Past Due 90 days and Accruing | 0 | 16 |
Acquired Loans | Consumer | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 418 | 322 |
Acquired Credit Impaired | 25 | 38 |
Total loans | 57,766 | 62,217 |
Past Due 90 days and Accruing | 0 | 16 |
Acquired Loans | Consumer | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3 | 2 |
Acquired Credit Impaired | 3 | 3 |
Total loans | 2,070 | 2,341 |
Past Due 90 days and Accruing | 0 | 0 |
Acquired Loans | Consumer | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 295 | 127 |
Acquired Loans | Consumer | 30-59 Days Past Due | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 292 | 125 |
Acquired Loans | Consumer | 30-59 Days Past Due | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3 | 2 |
Acquired Loans | Consumer | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 46 | 117 |
Acquired Loans | Consumer | 60-89 Days Past Due | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 46 | 117 |
Acquired Loans | Consumer | 60-89 Days Past Due | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Consumer | 90 Days or Greater Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 80 | 80 |
Acquired Loans | Consumer | 90 Days or Greater Past Due | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 80 | 80 |
Acquired Loans | Consumer | 90 Days or Greater Past Due | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 0 | $ 0 |
LOANS - Summary Information Per
LOANS - Summary Information Pertaining to Non-accrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Non-accrual loans | ||
Non-accrual loans | $ 20,339 | $ 14,318 |
Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 17,003 | 12,162 |
Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 3,336 | 2,156 |
Total Commercial Real Estate | ||
Non-accrual loans | ||
Non-accrual loans | 8,422 | 8,343 |
Total Commercial Real Estate | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 7,967 | 7,783 |
Total Commercial Real Estate | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 455 | 560 |
Total Commercial Real Estate | Construction and land development | ||
Non-accrual loans | ||
Non-accrual loans | 566 | 637 |
Total Commercial Real Estate | Construction and land development | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 566 | 637 |
Total Commercial Real Estate | Construction and land development | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 0 | 0 |
Total Commercial Real Estate | Other commercial real estate | ||
Non-accrual loans | ||
Non-accrual loans | 7,856 | 7,706 |
Total Commercial Real Estate | Other commercial real estate | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 7,401 | 7,146 |
Total Commercial Real Estate | Other commercial real estate | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 455 | 560 |
Commercial and industrial | ||
Non-accrual loans | ||
Non-accrual loans | 2,304 | 1,209 |
Commercial and industrial | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 1,776 | 746 |
Commercial and industrial | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 528 | 463 |
Commercial and industrial | Other Commercial | ||
Non-accrual loans | ||
Non-accrual loans | 2,060 | 1,166 |
Commercial and industrial | Other Commercial | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 1,532 | 703 |
Commercial and industrial | Other Commercial | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 528 | 463 |
Commercial and industrial | Agricultural | ||
Non-accrual loans | ||
Non-accrual loans | 244 | 43 |
Commercial and industrial | Agricultural | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 244 | 43 |
Commercial and industrial | Agricultural | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 0 | 0 |
Commercial and industrial | Tax exempt | ||
Non-accrual loans | ||
Non-accrual loans | 0 | 0 |
Commercial and industrial | Tax exempt | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 0 | 0 |
Commercial and industrial | Tax exempt | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 0 | 0 |
Total Commercial Loans | ||
Non-accrual loans | ||
Non-accrual loans | 10,726 | 9,552 |
Total Commercial Loans | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 9,743 | 8,529 |
Total Commercial Loans | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 983 | 1,023 |
Residential Real Estate | ||
Non-accrual loans | ||
Non-accrual loans | 8,548 | 4,266 |
Residential Real Estate | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 6,527 | 3,408 |
Residential Real Estate | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 2,021 | 858 |
Residential Real Estate | Residential mortgages | ||
Non-accrual loans | ||
Non-accrual loans | 8,548 | 4,266 |
Residential Real Estate | Residential mortgages | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 6,527 | 3,408 |
Residential Real Estate | Residential mortgages | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 2,021 | 858 |
Consumer | ||
Non-accrual loans | ||
Non-accrual loans | 1,065 | 500 |
Consumer | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 733 | 225 |
Consumer | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 332 | 275 |
Consumer | Home equity | ||
Non-accrual loans | ||
Non-accrual loans | 901 | 347 |
Consumer | Home equity | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 624 | 130 |
Consumer | Home equity | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 277 | 217 |
Consumer | Other consumer | ||
Non-accrual loans | ||
Non-accrual loans | 164 | 153 |
Consumer | Other consumer | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 109 | 95 |
Consumer | Other consumer | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | $ 55 | $ 58 |
LOANS - Loans Evaluated for Imp
LOANS - Loans Evaluated for Impairment (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Loans receivable: balance at end of period | ||
Total | $ 2,464,419 | $ 2,485,613 |
Commercial real estate | ||
Loans receivable: balance at end of period | ||
Total | 824,721 | 826,746 |
Commercial and industrial | ||
Loans receivable: balance at end of period | ||
Total | 387,205 | 379,423 |
Residential real estate | ||
Loans receivable: balance at end of period | ||
Total | 1,132,977 | 1,155,682 |
Consumer | ||
Loans receivable: balance at end of period | ||
Total | 119,516 | 123,762 |
Business Activities Loans | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 13,893 | 9,647 |
Collectively evaluated | 1,457,123 | 1,442,983 |
Total | 1,471,016 | 1,452,630 |
Business Activities Loans | Commercial real estate | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 7,641 | 7,604 |
Collectively evaluated | 535,525 | 526,407 |
Total | 543,166 | 534,011 |
Business Activities Loans | Commercial and industrial | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 1,504 | 626 |
Collectively evaluated | 278,201 | 267,378 |
Total | 279,705 | 268,004 |
Business Activities Loans | Residential real estate | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 4,386 | 1,404 |
Collectively evaluated | 584,079 | 590,007 |
Total | 588,465 | 591,411 |
Business Activities Loans | Consumer | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 362 | 13 |
Collectively evaluated | 59,318 | 59,191 |
Total | 59,680 | 59,204 |
Acquired Loans | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 1,234 | 1,146 |
Purchased Credit Impaired | 12,265 | 12,587 |
Collectively evaluated | 979,904 | 1,019,250 |
Total | 993,403 | 1,032,983 |
Acquired Loans | Commercial real estate | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 133 | 241 |
Purchased Credit Impaired | 8,610 | 8,655 |
Collectively evaluated | 272,812 | 283,839 |
Total | 281,555 | 292,735 |
Acquired Loans | Commercial and industrial | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 598 | 571 |
Purchased Credit Impaired | 459 | 632 |
Collectively evaluated | 106,443 | 110,216 |
Total | 107,500 | 111,419 |
Acquired Loans | Residential real estate | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 503 | 271 |
Purchased Credit Impaired | 3,168 | 3,259 |
Collectively evaluated | 540,841 | 560,741 |
Total | 544,512 | 564,271 |
Acquired Loans | Consumer | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 0 | 63 |
Purchased Credit Impaired | 28 | 41 |
Collectively evaluated | 59,808 | 64,454 |
Total | $ 59,836 | $ 64,558 |
LOANS - Summary of Impaired Loa
LOANS - Summary of Impaired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Business Activities Loans | ||
Recorded Investment | ||
Total | $ 13,893 | $ 9,647 |
Unpaid Principal Balance | ||
Total | 16,016 | 11,653 |
Related Allowance | ||
With an allowance recorded: | 649 | 459 |
Business Activities Loans | Total Commercial Real Estate | ||
Recorded Investment | ||
Total | 7,641 | 7,604 |
Unpaid Principal Balance | ||
Total | 9,639 | 9,598 |
Related Allowance | ||
With an allowance recorded: | 433 | 447 |
Business Activities Loans | Total Commercial Real Estate | Construction and land development | ||
Recorded Investment | ||
With no related allowance: | 566 | 0 |
With an allowance recorded: | 0 | 637 |
Unpaid Principal Balance | ||
With no related allowance: | 2,491 | 0 |
With an allowance recorded: | 0 | 2,563 |
Related Allowance | ||
With an allowance recorded: | 0 | 59 |
Business Activities Loans | Total Commercial Real Estate | Other commercial real estate | ||
Recorded Investment | ||
With no related allowance: | 5,933 | 5,896 |
With an allowance recorded: | 1,142 | 1,071 |
Unpaid Principal Balance | ||
With no related allowance: | 5,944 | 5,903 |
With an allowance recorded: | 1,204 | 1,132 |
Related Allowance | ||
With an allowance recorded: | 433 | 388 |
Business Activities Loans | Commercial and industrial | ||
Recorded Investment | ||
Total | 1,504 | 626 |
Unpaid Principal Balance | ||
Total | 1,510 | 625 |
Related Allowance | ||
With an allowance recorded: | 132 | 3 |
Business Activities Loans | Commercial and industrial | Other Commercial | ||
Recorded Investment | ||
With no related allowance: | 962 | 218 |
With an allowance recorded: | 542 | 408 |
Unpaid Principal Balance | ||
With no related allowance: | 966 | 217 |
With an allowance recorded: | 544 | 408 |
Related Allowance | ||
With an allowance recorded: | 132 | 3 |
Business Activities Loans | Commercial and industrial | Agricultural | ||
Recorded Investment | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Business Activities Loans | Commercial and industrial | Tax exempt | ||
Recorded Investment | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Business Activities Loans | Residential Real Estate | ||
Recorded Investment | ||
Total | 4,386 | 1,404 |
Unpaid Principal Balance | ||
Total | 4,404 | 1,417 |
Related Allowance | ||
With an allowance recorded: | 84 | 9 |
Business Activities Loans | Residential Real Estate | Residential mortgages | ||
Recorded Investment | ||
With no related allowance: | 3,586 | 1,247 |
With an allowance recorded: | 800 | 157 |
Unpaid Principal Balance | ||
With no related allowance: | 3,603 | 1,260 |
With an allowance recorded: | 801 | 157 |
Related Allowance | ||
With an allowance recorded: | 84 | 9 |
Business Activities Loans | Consumer | ||
Recorded Investment | ||
Total | 362 | 13 |
Unpaid Principal Balance | ||
Total | 463 | 13 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Business Activities Loans | Consumer | Home equity | ||
Recorded Investment | ||
With no related allowance: | 362 | 13 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 463 | 13 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Business Activities Loans | Consumer | Other consumer | ||
Recorded Investment | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | ||
Recorded Investment | ||
Total | 1,234 | 1,146 |
Unpaid Principal Balance | ||
Total | 1,363 | 1,370 |
Related Allowance | ||
With an allowance recorded: | 121 | 0 |
Acquired Loans | Total Commercial Real Estate | ||
Recorded Investment | ||
Total | 133 | 241 |
Unpaid Principal Balance | ||
Total | 245 | 352 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Total Commercial Real Estate | Construction and land development | ||
Recorded Investment | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Total Commercial Real Estate | Other commercial real estate | ||
Recorded Investment | ||
With no related allowance: | 133 | 241 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 245 | 352 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Commercial and industrial | ||
Recorded Investment | ||
Total | 598 | 571 |
Unpaid Principal Balance | ||
Total | 611 | 584 |
Related Allowance | ||
With an allowance recorded: | 121 | 0 |
Acquired Loans | Commercial and industrial | Other Commercial | ||
Recorded Investment | ||
With no related allowance: | 176 | 571 |
With an allowance recorded: | 422 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 175 | 584 |
With an allowance recorded: | 436 | 0 |
Related Allowance | ||
With an allowance recorded: | 121 | 0 |
Acquired Loans | Commercial and industrial | Agricultural | ||
Recorded Investment | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Commercial and industrial | Tax exempt | ||
Recorded Investment | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Residential Real Estate | ||
Recorded Investment | ||
Total | 503 | 271 |
Unpaid Principal Balance | ||
Total | 507 | 278 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Residential Real Estate | Residential mortgages | ||
Recorded Investment | ||
With no related allowance: | 503 | 271 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 507 | 278 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Consumer | ||
Recorded Investment | ||
Total | 0 | 63 |
Unpaid Principal Balance | ||
Total | 0 | 156 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Consumer | Home equity | ||
Recorded Investment | ||
With no related allowance: | 0 | 63 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 0 | 156 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Consumer | Other consumer | ||
Recorded Investment | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | $ 0 | $ 0 |
LOANS - Average Recorded Invest
LOANS - Average Recorded Investment and Interest Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Recorded Investment | $ 14,028 | $ 7,413 |
Cash Basis Interest Income Recognized | 0 | 62 |
Business Activities Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Recorded Investment | 7,670 | 4,315 |
Cash Basis Interest Income Recognized | 0 | 34 |
Business Activities Loans | Commercial real estate | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 589 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Business Activities Loans | Commercial real estate | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 5,937 | 2,592 |
Cash basis interest income recognized, with no related allowance | 0 | 34 |
Recorded investment, with related allowance | 1,144 | 1,723 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Business Activities Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Recorded Investment | 1,521 | 634 |
Cash Basis Interest Income Recognized | 0 | 5 |
Business Activities Loans | Commercial and industrial | Other Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 1,334 | 226 |
Cash basis interest income recognized, with no related allowance | 0 | 3 |
Recorded investment, with related allowance | 187 | 216 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Business Activities Loans | Commercial and industrial | Agricultural | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 0 | 192 |
Cash basis interest income recognized, with no related allowance | 0 | 2 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Business Activities Loans | Commercial and industrial | Tax exempt | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Business Activities Loans | Residential real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Recorded Investment | 4,393 | 1,821 |
Cash Basis Interest Income Recognized | 0 | 22 |
Business Activities Loans | Residential real estate | Residential mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 3,591 | 1,500 |
Cash basis interest income recognized, with no related allowance | 0 | 22 |
Recorded investment, with related allowance | 802 | 321 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Business Activities Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Recorded Investment | 444 | 643 |
Cash Basis Interest Income Recognized | 0 | 1 |
Business Activities Loans | Consumer | Home equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 444 | 590 |
Cash basis interest income recognized, with no related allowance | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Business Activities Loans | Consumer | Other consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 0 | 44 |
Cash basis interest income recognized, with no related allowance | 0 | 1 |
Recorded investment, with related allowance | 0 | 9 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Recorded Investment | 1,236 | 0 |
Cash Basis Interest Income Recognized | 1 | 0 |
Acquired Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Recorded Investment | 133 | 0 |
Cash Basis Interest Income Recognized | 0 | 0 |
Acquired Loans | Commercial real estate | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Acquired Loans | Commercial real estate | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 133 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Acquired Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Recorded Investment | 595 | 0 |
Cash Basis Interest Income Recognized | 1 | 0 |
Acquired Loans | Commercial and industrial | Other Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 161 | 0 |
Cash basis interest income recognized, with no related allowance | 1 | 0 |
Recorded investment, with related allowance | 434 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Acquired Loans | Commercial and industrial | Agricultural | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Acquired Loans | Commercial and industrial | Tax exempt | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Acquired Loans | Residential real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Recorded Investment | 508 | 0 |
Cash Basis Interest Income Recognized | 0 | 0 |
Acquired Loans | Residential real estate | Residential mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 508 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Acquired Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Recorded Investment | 0 | 0 |
Cash Basis Interest Income Recognized | 0 | 0 |
Acquired Loans | Consumer | Home equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 |
Acquired Loans | Consumer | Other consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average recorded investment, with no related allowance | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 |
Cash basis interest income recognized, with related allowance | $ 0 | $ 0 |
LOANS - Recorded Investment and
LOANS - Recorded Investment and Number of Modifications (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($)modification | Mar. 31, 2017USD ($)modification | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Modifications (in modification) | modification | 10 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 1,727 | $ 693 |
Post-Modification Outstanding Recorded Investment | $ 1,550 | $ 691 |
Commercial and industrial | Commercial installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Modifications (in modification) | modification | 2 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 452 | $ 80 |
Post-Modification Outstanding Recorded Investment | $ 448 | $ 80 |
Commercial and industrial | Agricultural | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Modifications (in modification) | modification | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 2 | |
Post-Modification Outstanding Recorded Investment | $ 2 | |
Total Commercial Real Estate | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Modifications (in modification) | modification | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 167 | |
Post-Modification Outstanding Recorded Investment | $ 0 | |
Residential Real Estate | Residential mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Modifications (in modification) | modification | 5 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 1,105 | $ 575 |
Post-Modification Outstanding Recorded Investment | $ 1,099 | $ 574 |
Consumer | Other consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Modifications (in modification) | modification | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 1 | $ 38 |
Post-Modification Outstanding Recorded Investment | $ 1 | $ 37 |
LOAN LOSS ALLOWANCE - Allowance
LOAN LOSS ALLOWANCE - Allowance Activity (Details) - USD ($) | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Allowance for loan losses | ||||
Specific reserve for loans individually evaluated, loan relationships with an aggregate balance (in excess) | $ 150,000 | |||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | $ 12,325,000 | |||
Provision/(releases) for loan losses | 795,000 | $ 795,000 | ||
Balance at end of period | 12,679,000 | |||
Allowance For Loan Losses | ||||
Total | 12,325,000 | 12,679,000 | ||
Business Activities Loans | ||||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | 12,153,000 | 10,419,000 | ||
Charged-off loans | (254,000) | (344,000) | ||
Recoveries on charged-off loans | 20,000 | 14,000 | ||
Provision/(releases) for loan losses | 495,000 | 795,000 | ||
Balance at end of period | 12,414,000 | 10,884,000 | ||
Allowance For Loan Losses | ||||
Individually evaluated for impairment | 649,000 | $ 527,000 | ||
Collectively evaluated | 11,765,000 | 10,357,000 | ||
Total | 12,153,000 | 10,419,000 | 12,414,000 | 10,884,000 |
Business Activities Loans | Commercial real estate | ||||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | 6,037,000 | 5,145,000 | ||
Charged-off loans | 0 | (107,000) | ||
Recoveries on charged-off loans | 15,000 | 4,000 | ||
Provision/(releases) for loan losses | (54,000) | 265,000 | ||
Balance at end of period | 5,998,000 | 5,307,000 | ||
Allowance For Loan Losses | ||||
Individually evaluated for impairment | 433,000 | 302,000 | ||
Collectively evaluated | 5,565,000 | 5,005,000 | ||
Total | 6,037,000 | 5,145,000 | 5,998,000 | 5,307,000 |
Business Activities Loans | Commercial and industrial | ||||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | 2,373,000 | 1,952,000 | ||
Charged-off loans | (84,000) | (17,000) | ||
Recoveries on charged-off loans | 2,000 | 0 | ||
Provision/(releases) for loan losses | 321,000 | 208,000 | ||
Balance at end of period | 2,612,000 | 2,143,000 | ||
Allowance For Loan Losses | ||||
Individually evaluated for impairment | 132,000 | 172,000 | ||
Collectively evaluated | 2,480,000 | 1,971,000 | ||
Total | 2,373,000 | 1,952,000 | 2,612,000 | 2,143,000 |
Business Activities Loans | Residential real estate | ||||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | 3,357,000 | 2,721,000 | ||
Charged-off loans | 0 | (199,000) | ||
Recoveries on charged-off loans | 1,000 | 1,000 | ||
Provision/(releases) for loan losses | (54,000) | 283,000 | ||
Balance at end of period | 3,304,000 | 2,806,000 | ||
Allowance For Loan Losses | ||||
Individually evaluated for impairment | 84,000 | 45,000 | ||
Collectively evaluated | 3,220,000 | 2,761,000 | ||
Total | 3,357,000 | 2,721,000 | 3,304,000 | 2,806,000 |
Business Activities Loans | Consumer | ||||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | 386,000 | 601,000 | ||
Charged-off loans | (170,000) | (21,000) | ||
Recoveries on charged-off loans | 2,000 | 9,000 | ||
Provision/(releases) for loan losses | 282,000 | 39,000 | ||
Balance at end of period | 500,000 | 628,000 | ||
Allowance For Loan Losses | ||||
Individually evaluated for impairment | 0 | 8,000 | ||
Collectively evaluated | 500,000 | 620,000 | ||
Total | 386,000 | $ 601,000 | 500,000 | $ 628,000 |
Acquired Loans | ||||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | 172,000 | |||
Charged-off loans | (207,000) | |||
Recoveries on charged-off loans | 0 | |||
Provision/(releases) for loan losses | 300,000 | |||
Balance at end of period | 265,000 | |||
Allowance For Loan Losses | ||||
Individually evaluated for impairment | 121,000 | |||
Collectively evaluated | 144,000 | |||
Total | 172,000 | 265,000 | ||
Acquired Loans | Commercial real estate | ||||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | 97,000 | |||
Charged-off loans | (106,000) | |||
Recoveries on charged-off loans | 0 | |||
Provision/(releases) for loan losses | 92,000 | |||
Balance at end of period | 83,000 | |||
Allowance For Loan Losses | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated | 83,000 | |||
Total | 97,000 | 83,000 | ||
Acquired Loans | Commercial and industrial | ||||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | 16,000 | |||
Charged-off loans | (58,000) | |||
Recoveries on charged-off loans | 0 | |||
Provision/(releases) for loan losses | 166,000 | |||
Balance at end of period | 124,000 | |||
Allowance For Loan Losses | ||||
Individually evaluated for impairment | 121,000 | |||
Collectively evaluated | 3,000 | |||
Total | 16,000 | 124,000 | ||
Acquired Loans | Residential real estate | ||||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | 59,000 | |||
Charged-off loans | 0 | |||
Recoveries on charged-off loans | 0 | |||
Provision/(releases) for loan losses | (1,000) | |||
Balance at end of period | 58,000 | |||
Allowance For Loan Losses | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated | 58,000 | |||
Total | 59,000 | 58,000 | ||
Acquired Loans | Consumer | ||||
Activity in the allowance for loan losses | ||||
Balance at beginning of period | 0 | |||
Charged-off loans | (43,000) | |||
Recoveries on charged-off loans | 0 | |||
Provision/(releases) for loan losses | 43,000 | |||
Balance at end of period | 0 | |||
Allowance For Loan Losses | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated | 0 | |||
Total | $ 0 | $ 0 |
LOAN LOSS ALLOWANCE - Loans by
LOAN LOSS ALLOWANCE - Loans by Credit Risk Rating (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Credit quality information | ||
Total loans | $ 2,464,419 | $ 2,485,613 |
Special mention | ||
Credit quality information | ||
Total loans | 17,780 | 16,360 |
Non-accrual | ||
Credit quality information | ||
Total loans | 20,339 | 14,296 |
Substandard | ||
Credit quality information | ||
Total loans | 14,133 | 18,117 |
Total classified | ||
Credit quality information | ||
Total loans | 34,472 | 32,413 |
Total Criticized | ||
Credit quality information | ||
Total loans | 52,252 | 48,773 |
Business Activities Loans | ||
Credit quality information | ||
Total loans | 1,471,016 | 1,452,630 |
Total Performing and Nonperforming Loans | 648,145 | 650,615 |
Business Activities Loans | Commercial real estate | ||
Credit quality information | ||
Total loans | 543,166 | 534,011 |
Business Activities Loans | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Total loans | 31,073 | 28,892 |
Business Activities Loans | Commercial real estate | Other commercial real estate | ||
Credit quality information | ||
Total loans | 512,093 | 505,119 |
Business Activities Loans | Commercial and industrial | ||
Credit quality information | ||
Total loans | 279,705 | 268,004 |
Business Activities Loans | Commercial and industrial | Other Commercial | ||
Credit quality information | ||
Total loans | 210,304 | 198,051 |
Business Activities Loans | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Total loans | 26,309 | 27,588 |
Business Activities Loans | Commercial and industrial | Tax exempt | ||
Credit quality information | ||
Total loans | 43,092 | 42,365 |
Business Activities Loans | Residential Real Estate | ||
Credit quality information | ||
Total loans | 588,465 | 591,411 |
Business Activities Loans | Residential Real Estate | Real estate | ||
Credit quality information | ||
Total loans | 588,465 | 591,411 |
Total Performing and Nonperforming Loans | 588,465 | 591,411 |
Business Activities Loans | Residential Real Estate | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 52,100 | 51,376 |
Business Activities Loans | Consumer | ||
Credit quality information | ||
Total loans | 59,680 | 59,204 |
Total Performing and Nonperforming Loans | 7,580 | 7,828 |
Business Activities Loans | Consumer | Home equity | ||
Credit quality information | ||
Total loans | 52,100 | 51,376 |
Business Activities Loans | Performing | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 640,885 | 646,982 |
Business Activities Loans | Performing | Residential Real Estate | Real estate | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 581,938 | 588,003 |
Business Activities Loans | Performing | Residential Real Estate | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 51,476 | 51,246 |
Business Activities Loans | Performing | Consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 7,471 | 7,733 |
Business Activities Loans | Nonperforming | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 7,260 | 3,633 |
Business Activities Loans | Nonperforming | Residential Real Estate | Real estate | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 6,527 | 3,408 |
Business Activities Loans | Nonperforming | Residential Real Estate | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 624 | 130 |
Business Activities Loans | Nonperforming | Consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 109 | 95 |
Business Activities Loans | Pass | Commercial real estate | ||
Credit quality information | ||
Total loans | 520,135 | 511,891 |
Business Activities Loans | Pass | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Total loans | 30,433 | 28,180 |
Business Activities Loans | Pass | Commercial real estate | Other commercial real estate | ||
Credit quality information | ||
Total loans | 489,702 | 483,711 |
Business Activities Loans | Pass | Commercial and industrial | ||
Credit quality information | ||
Total loans | 274,852 | 263,401 |
Business Activities Loans | Pass | Commercial and industrial | Other Commercial | ||
Credit quality information | ||
Total loans | 206,217 | 194,147 |
Business Activities Loans | Pass | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Total loans | 25,700 | 27,046 |
Business Activities Loans | Pass | Commercial and industrial | Tax exempt | ||
Credit quality information | ||
Total loans | 42,935 | 42,208 |
Business Activities Loans | Special mention | ||
Credit quality information | ||
Total loans | 10,153 | 7,932 |
Business Activities Loans | Special mention | Commercial real estate | ||
Credit quality information | ||
Total loans | 7,813 | 5,779 |
Business Activities Loans | Special mention | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Total loans | 73 | 73 |
Business Activities Loans | Special mention | Commercial real estate | Other commercial real estate | ||
Credit quality information | ||
Total loans | 7,740 | 5,706 |
Business Activities Loans | Special mention | Commercial and industrial | ||
Credit quality information | ||
Total loans | 2,340 | 2,153 |
Business Activities Loans | Special mention | Commercial and industrial | Other Commercial | ||
Credit quality information | ||
Total loans | 2,115 | 1,933 |
Business Activities Loans | Special mention | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Total loans | 68 | 63 |
Business Activities Loans | Special mention | Commercial and industrial | Tax exempt | ||
Credit quality information | ||
Total loans | 157 | 157 |
Business Activities Loans | Non-accrual | ||
Credit quality information | ||
Total loans | 17,003 | 12,140 |
Business Activities Loans | Substandard | ||
Credit quality information | ||
Total loans | 7,988 | 10,284 |
Business Activities Loans | Substandard | Commercial real estate | ||
Credit quality information | ||
Total loans | 15,218 | 16,341 |
Business Activities Loans | Substandard | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Total loans | 567 | 639 |
Business Activities Loans | Substandard | Commercial real estate | Other commercial real estate | ||
Credit quality information | ||
Total loans | 14,651 | 15,702 |
Business Activities Loans | Substandard | Commercial and industrial | ||
Credit quality information | ||
Total loans | 2,513 | 2,450 |
Business Activities Loans | Substandard | Commercial and industrial | Other Commercial | ||
Credit quality information | ||
Total loans | 1,972 | 1,971 |
Business Activities Loans | Substandard | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Total loans | 541 | 479 |
Business Activities Loans | Substandard | Commercial and industrial | Tax exempt | ||
Credit quality information | ||
Total loans | 0 | 0 |
Business Activities Loans | Total classified | ||
Credit quality information | ||
Total loans | 24,991 | 22,424 |
Business Activities Loans | Total Criticized | ||
Credit quality information | ||
Total loans | 35,144 | 30,356 |
Acquired Loans | ||
Credit quality information | ||
Total loans | 993,403 | 1,032,983 |
Total Performing and Nonperforming Loans | 604,350 | 628,829 |
Acquired Loans | Commercial real estate | ||
Credit quality information | ||
Total loans | 281,555 | 292,735 |
Acquired Loans | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Total loans | 14,800 | 16,781 |
Acquired Loans | Commercial real estate | Other commercial real estate | ||
Credit quality information | ||
Total loans | 266,755 | 275,954 |
Acquired Loans | Commercial and industrial | ||
Credit quality information | ||
Total loans | 107,500 | 111,419 |
Acquired Loans | Commercial and industrial | Other Commercial | ||
Credit quality information | ||
Total loans | 65,198 | 68,069 |
Acquired Loans | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Total loans | 0 | 0 |
Acquired Loans | Commercial and industrial | Tax exempt | ||
Credit quality information | ||
Total loans | 42,302 | 43,350 |
Acquired Loans | Residential Real Estate | ||
Credit quality information | ||
Total loans | 544,512 | 564,271 |
Total Performing and Nonperforming Loans | 544,513 | 564,271 |
Acquired Loans | Residential Real Estate | Real estate | ||
Credit quality information | ||
Total loans | 544,512 | 564,271 |
Acquired Loans | Residential Real Estate | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 57,767 | 62,217 |
Acquired Loans | Consumer | ||
Credit quality information | ||
Total loans | 59,836 | 64,558 |
Total Performing and Nonperforming Loans | 2,070 | 2,341 |
Acquired Loans | Consumer | Home equity | ||
Credit quality information | ||
Total loans | 57,766 | 62,217 |
Acquired Loans | Performing | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 600,969 | 626,799 |
Acquired Loans | Performing | Residential Real Estate | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 541,464 | 562,516 |
Acquired Loans | Performing | Residential Real Estate | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 57,490 | 62,000 |
Acquired Loans | Performing | Consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 2,015 | 2,283 |
Acquired Loans | Nonperforming | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 3,381 | 2,030 |
Acquired Loans | Nonperforming | Residential Real Estate | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 3,049 | 1,755 |
Acquired Loans | Nonperforming | Residential Real Estate | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 277 | 217 |
Acquired Loans | Nonperforming | Consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 55 | 58 |
Acquired Loans | Pass | Commercial real estate | ||
Credit quality information | ||
Total loans | 271,242 | 283,000 |
Acquired Loans | Pass | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Total loans | 14,436 | 16,523 |
Acquired Loans | Pass | Commercial real estate | Other commercial real estate | ||
Credit quality information | ||
Total loans | 256,806 | 266,477 |
Acquired Loans | Pass | Commercial and industrial | ||
Credit quality information | ||
Total loans | 100,501 | 103,650 |
Acquired Loans | Pass | Commercial and industrial | Other Commercial | ||
Credit quality information | ||
Total loans | 58,199 | 60,300 |
Acquired Loans | Pass | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Total loans | 0 | 0 |
Acquired Loans | Pass | Commercial and industrial | Tax exempt | ||
Credit quality information | ||
Total loans | 42,302 | 43,350 |
Acquired Loans | Special mention | ||
Credit quality information | ||
Total loans | 7,627 | 8,428 |
Acquired Loans | Special mention | Commercial real estate | ||
Credit quality information | ||
Total loans | 2,624 | 2,675 |
Acquired Loans | Special mention | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Total loans | 81 | 235 |
Acquired Loans | Special mention | Commercial real estate | Other commercial real estate | ||
Credit quality information | ||
Total loans | 2,543 | 2,440 |
Acquired Loans | Special mention | Commercial and industrial | ||
Credit quality information | ||
Total loans | 5,003 | 5,753 |
Acquired Loans | Special mention | Commercial and industrial | Other Commercial | ||
Credit quality information | ||
Total loans | 5,003 | 5,753 |
Acquired Loans | Special mention | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Total loans | 0 | 0 |
Acquired Loans | Special mention | Commercial and industrial | Tax exempt | ||
Credit quality information | ||
Total loans | 0 | 0 |
Acquired Loans | Non-accrual | ||
Credit quality information | ||
Total loans | 3,336 | 2,156 |
Acquired Loans | Substandard | ||
Credit quality information | ||
Total loans | 6,145 | 7,833 |
Acquired Loans | Substandard | Commercial real estate | ||
Credit quality information | ||
Total loans | 7,689 | 7,060 |
Acquired Loans | Substandard | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Total loans | 283 | 23 |
Acquired Loans | Substandard | Commercial real estate | Other commercial real estate | ||
Credit quality information | ||
Total loans | 7,406 | 7,037 |
Acquired Loans | Substandard | Commercial and industrial | ||
Credit quality information | ||
Total loans | 1,996 | 2,016 |
Acquired Loans | Substandard | Commercial and industrial | Other Commercial | ||
Credit quality information | ||
Total loans | 1,996 | 2,016 |
Acquired Loans | Substandard | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Total loans | 0 | 0 |
Acquired Loans | Substandard | Commercial and industrial | Tax exempt | ||
Credit quality information | ||
Total loans | 0 | 0 |
Acquired Loans | Total classified | ||
Credit quality information | ||
Total loans | 9,481 | 9,989 |
Acquired Loans | Total Criticized | ||
Credit quality information | ||
Total loans | $ 17,108 | $ 18,417 |
BORROWED FUNDS - Summary of Bor
BORROWED FUNDS - Summary of Borrowed Funds (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Short-term borrowings | ||
Carrying Value | $ 598,987 | $ 649,498 |
Weighted Average Rate | 1.75% | 1.43% |
Long-term borrowings | ||
Carrying Value | $ 186,229 | $ 180,223 |
Weighted Average Rate | 2.65% | 2.47% |
Total borrowings | $ 785,216 | $ 829,721 |
Weighted Average Rate | 1.96% | 1.66% |
Advances from the FHLB | ||
Short-term borrowings | ||
Carrying Value | $ 567,372 | $ 608,792 |
Weighted Average Rate | 1.80% | 1.49% |
Long-term borrowings | ||
Carrying Value | $ 143,211 | $ 137,190 |
Weighted Average Rate | 1.83% | 1.72% |
Other borrowings | ||
Short-term borrowings | ||
Carrying Value | $ 31,615 | $ 40,706 |
Weighted Average Rate | 0.89% | 0.59% |
Subordinated borrowings | ||
Long-term borrowings | ||
Carrying Value | $ 38,018 | $ 38,033 |
Weighted Average Rate | 5.36% | 4.88% |
Junior subordinated borrowings | ||
Long-term borrowings | ||
Carrying Value | $ 5,000 | $ 5,000 |
Weighted Average Rate | 5.41% | 4.89% |
BORROWED FUNDS - Narrative (Det
BORROWED FUNDS - Narrative (Details) - USD ($) | Mar. 30, 2014 | Apr. 30, 2008 | Mar. 31, 2018 | Dec. 31, 2017 | Oct. 29, 2014 |
Debt Instrument [Line Items] | |||||
Short-term debt | $ 598,987,000 | $ 649,498,000 | |||
Advances outstanding | 186,229,000 | 180,223,000 | |||
Financial Guarantee | NHTB Capital Trust II and NHTB Capital Trust III | |||||
Debt Instrument [Line Items] | |||||
Debentures issued by variable interest entities | $ 20,600,000 | ||||
Subordinated debt | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 17,000,000 | ||||
Fixed interest rate | 6.75% | ||||
LIBOR | Financial Guarantee | |||||
Debt Instrument [Line Items] | |||||
Interest rate margin | 2.79% | ||||
Advances from the FHLB | |||||
Debt Instrument [Line Items] | |||||
Secured line of credit maintained | 1,000,000 | ||||
Short-term line of credit outstanding | 0 | 0 | |||
Short-term debt | 567,372,000 | 608,792,000 | |||
Advances outstanding | 143,211,000 | 137,190,000 | |||
Federal Reserve Bank Advances | |||||
Debt Instrument [Line Items] | |||||
Secured line of credit maintained | 118,000,000 | ||||
Short-term debt | 0 | 0 | |||
Federal Home Loan Bank Certificates and Obligations FHLB Callable Advances | |||||
Debt Instrument [Line Items] | |||||
Advances outstanding | 25,000,000 | 27,000,000 | |||
Federal Home Loan Bank Certificates and Obligations FHLB Amortizing Advances | |||||
Debt Instrument [Line Items] | |||||
Advances outstanding | 676,000 | 683,000 | |||
Subordinated borrowings | |||||
Debt Instrument [Line Items] | |||||
Advances outstanding | $ 38,018,000 | $ 38,033,000 | |||
Maturity period | 15 years | ||||
Principal amount of debt issued | $ 5,000,000 | ||||
Earliest callable period without penalties | 5 years | ||||
Effective interest rate | 5.57% | 5.04% | |||
Subordinated borrowings | LIBOR | |||||
Debt Instrument [Line Items] | |||||
Interest rate margin | 3.45% |
BORROWED FUNDS - Summary of Mat
BORROWED FUNDS - Summary of Maturities of FHLBB (Details) - Fixed rate advances $ in Thousands | Mar. 31, 2018USD ($) |
Carrying Value | |
2,018 | $ 531,680 |
2,019 | 146,661 |
2,020 | 29,929 |
2,021 | 1,637 |
2,022 | 0 |
2023 and thereafter | 676 |
Total FHLB advances | $ 710,583 |
Weighted Average Rate | |
2,018 | 1.78% |
2,019 | 1.88% |
2,020 | 1.88% |
2,021 | 2.35% |
2,022 | 0.00% |
2023 and thereafter | 2.87% |
Total FHLB advances | 1.81% |
DEPOSITS - Schedule of Time Dep
DEPOSITS - Schedule of Time Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
Time less than $100,000 | $ 587,046 | $ 579,856 |
Time $100,000 or more | 297,802 | 286,490 |
Total time deposits | 884,848 | 866,346 |
Brokered time deposits | 450,400 | 428,300 |
Reciprocal deposits | $ 35,500 | $ 49,700 |
DEPOSITS - Maturities by Year (
DEPOSITS - Maturities by Year (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
Within 1 year | $ 474,956 | $ 406,295 |
Over 1 year to 2 years | 274,329 | 305,895 |
Over 2 years to 3 years | 102,272 | 115,878 |
Over 3 years to 4 years | 13,647 | 24,459 |
Over 4 years to 5 years | 19,617 | 13,685 |
Over 5 years | 27 | 134 |
Total time deposits | $ 884,848 | $ 866,346 |
CAPITAL RATIOS AND SHAREHOLDE59
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY - Actual and Required Capital Ratios (Details) | Mar. 31, 2018 | Dec. 31, 2017 |
Tier 1 capital to risk-weighted assets | ||
Total capital to risk weighted assets | 13.90% | 13.70% |
Common equity tier 1 capital to risk weighted assets | 11.40% | 11.30% |
Tier 1 capital to risk weighted assets | 12.30% | 12.20% |
Tier 1 capital to average assets | 8.20% | 8.10% |
Regulatory minimum to be well capitalized, Total capital to risk weighted assets | 10.50% | 10.50% |
Regulatory minimum to be well capitalized, Common Equity Tier 1 Capital to risk weighted assets | 6.50% | 6.50% |
Regulatory minimum to be well capitalized, Tier 1 capital to risk weighted assets | 8.00% | 8.00% |
Regulatory minimum to be well capitalized, Tier 1 capital to average assets | 5.00% | 5.00% |
Bank | ||
Tier 1 capital to risk-weighted assets | ||
Total capital to risk weighted assets | 13.70% | 13.70% |
Common equity tier 1 capital to risk weighted assets | 12.90% | 12.90% |
Tier 1 capital to risk weighted assets | 12.90% | 12.90% |
Tier 1 capital to average assets | 8.60% | 8.60% |
Regulatory minimum to be well capitalized, Total capital to risk weighted assets | 10.50% | 10.50% |
Regulatory minimum to be well capitalized, Common Equity Tier 1 Capital to risk weighted assets | 6.50% | 6.50% |
Regulatory minimum to be well capitalized, Tier 1 capital to risk weighted assets | 8.00% | 8.00% |
Regulatory minimum to be well capitalized, Tier 1 capital to average assets | 5.00% | 5.00% |
CAPITAL RATIOS AND SHAREHOLDE60
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY - Components of AOCI (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss | $ (13,156) | $ (4,554) |
Net unrealized loss on AFS securities | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other accumulated comprehensive income (loss), before tax: | (13,443) | (2,741) |
Income taxes related to items of accumulated other comprehensive loss: | 3,211 | 1,030 |
Net unrealized loss on effective cash flow hedging derivatives | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other accumulated comprehensive income (loss), before tax: | (2,934) | (3,588) |
Income taxes related to items of accumulated other comprehensive loss: | 698 | 1,338 |
Net unrealized loss on post-retirement plans | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other accumulated comprehensive income (loss), before tax: | (905) | (946) |
Income taxes related to items of accumulated other comprehensive loss: | $ 217 | $ 353 |
CAPITAL RATIOS AND SHAREHOLDE61
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY - Components of OCI (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net unrealized gain (loss) arising during the period | ||
Net of Tax | $ (7,622) | $ 664 |
Less: reclassification adjustment for gains (losses) realized in net income | ||
Net of Tax | 0 | |
Other comprehensive income (loss) | ||
Before Tax | (10,007) | 950 |
Tax Effect | 2,385 | (286) |
Total other comprehensive (loss) income | (7,622) | 664 |
Net unrealized loss on AFS securities | ||
Net unrealized gain (loss) arising during the period | ||
Before Tax | (10,702) | 1,116 |
Tax Effect | 2,550 | (348) |
Net of Tax | (8,152) | 768 |
Less: reclassification adjustment for gains (losses) realized in net income | ||
Before Tax | 0 | 0 |
Tax Effect | 0 | 0 |
Net of Tax | 0 | 0 |
Other comprehensive income (loss) | ||
Before Tax | (10,702) | 1,116 |
Tax Effect | 2,550 | (348) |
Total other comprehensive (loss) income | (8,152) | 768 |
Net unrealized loss on effective cash flow hedging derivatives | ||
Net unrealized gain (loss) arising during the period | ||
Before Tax | 654 | (223) |
Tax Effect | (155) | 83 |
Net of Tax | 499 | (140) |
Less: reclassification adjustment for gains (losses) realized in net income | ||
Before Tax | 0 | 0 |
Tax Effect | 0 | 0 |
Net of Tax | 0 | 0 |
Other comprehensive income (loss) | ||
Before Tax | 654 | (223) |
Tax Effect | (155) | 83 |
Total other comprehensive (loss) income | 499 | (140) |
Net unrealized loss on post-retirement plans | ||
Net unrealized gain (loss) arising during the period | ||
Before Tax | 41 | 57 |
Tax Effect | (10) | (21) |
Net of Tax | 31 | 36 |
Less: reclassification adjustment for gains (losses) realized in net income | ||
Before Tax | 0 | 0 |
Tax Effect | 0 | 0 |
Net of Tax | 0 | 0 |
Other comprehensive income (loss) | ||
Before Tax | 41 | 57 |
Tax Effect | (10) | (21) |
Total other comprehensive (loss) income | $ 31 | $ 36 |
CAPITAL RATIOS AND SHAREHOLDE62
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY - Changes in AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance at beginning of period | $ 354,641 | $ 156,740 |
Other comprehensive gain/(loss) before reclassifications | (7,622) | 664 |
Less: amounts reclassified from accumulated other comprehensive income for ASU 2018-02 | (980) | |
Less: amounts reclassified from accumulated other comprehensive income | 0 | |
Total other comprehensive loss | (8,602) | |
Total other comprehensive (loss) income | (7,622) | 664 |
Balance at end of period | 352,157 | 341,048 |
Net unrealized loss on AFS securities | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance at beginning of period | (1,713) | (2,125) |
Other comprehensive gain/(loss) before reclassifications | (8,152) | 768 |
Less: amounts reclassified from accumulated other comprehensive income for ASU 2018-02 | (367) | |
Less: amounts reclassified from accumulated other comprehensive income | 0 | 0 |
Total other comprehensive loss | (8,519) | |
Total other comprehensive (loss) income | (8,152) | 768 |
Balance at end of period | (10,232) | (1,357) |
Net unrealized loss on effective cash flow hedging derivatives | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance at beginning of period | (2,250) | (1,798) |
Other comprehensive gain/(loss) before reclassifications | 499 | (140) |
Less: amounts reclassified from accumulated other comprehensive income for ASU 2018-02 | (485) | |
Less: amounts reclassified from accumulated other comprehensive income | 0 | 0 |
Total other comprehensive loss | 14 | |
Total other comprehensive (loss) income | 499 | (140) |
Balance at end of period | (2,236) | (1,938) |
Net unrealized loss on post-retirement plans | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance at beginning of period | (591) | (403) |
Other comprehensive gain/(loss) before reclassifications | 31 | 36 |
Less: amounts reclassified from accumulated other comprehensive income for ASU 2018-02 | (128) | |
Less: amounts reclassified from accumulated other comprehensive income | 0 | 0 |
Total other comprehensive loss | (97) | |
Total other comprehensive (loss) income | 31 | 36 |
Balance at end of period | (688) | (367) |
Accumulated other comprehensive (loss) income | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance at beginning of period | (4,554) | (4,326) |
Less: amounts reclassified from accumulated other comprehensive income for ASU 2018-02 | (980) | |
Total other comprehensive (loss) income | (7,622) | 664 |
Balance at end of period | $ (13,156) | $ (3,662) |
EARNINGS PER SHARE (Details)
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share [Abstract] | ||
Net income | $ 7,812 | $ 4,211 |
Average number of basic common shares outstanding (in shares) | 15,448,338 | 14,471,147 |
Plus: dilutive effect of stock options and awards outstanding (in shares) | 104,631 | 120,126 |
Average number of diluted common shares outstanding (in shares) | 15,552,969 | 14,591,273 |
Anti-dilutive options excluded from earnings calculation (in shares) | 1,230 | 0 |
Earnings per share: | ||
Basic (in dollars per share) | $ 0.51 | $ 0.29 |
Diluted (in dollars per share) | $ 0.50 | $ 0.29 |
DERIVATIVE FINANCIAL INSTRUME64
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Interest rate swap agreements and non-hedging derivative assets and liabilities | |||
Notional Amount | $ 100,033 | $ 130,205 | |
Estimated Fair Value Asset (Liability) | 1,171 | 447 | |
Designated as Hedging Instrument | Cash flow hedges: | |||
Interest rate swap agreements and non-hedging derivative assets and liabilities | |||
Notional Amount | $ 90,000 | $ 90,000 | |
Weighted Average Maturity | 4 years 10 months 13 days | 5 years 1 month 6 days | |
Estimated Fair Value Asset (Liability) | $ 1,215 | $ 669 | |
Designated as Hedging Instrument | Cash flow hedges: | Interest rate caps agreements | |||
Interest rate swap agreements and non-hedging derivative assets and liabilities | |||
Notional Amount | $ 90,000 | $ 90,000 | |
Weighted Average Maturity | 4 years 10 months 13 days | 5 years 1 month 6 days | |
Estimated Fair Value Asset (Liability) | $ 1,215 | $ 669 | |
Realized gain (loss) | (108) | $ (39) | |
Designated as Hedging Instrument | Economic hedges: | |||
Interest rate swap agreements and non-hedging derivative assets and liabilities | |||
Notional Amount | $ 5,658 | $ 20,352 | |
Weighted Average Maturity | 2 months 12 days | 2 months 12 days | |
Estimated Fair Value Asset (Liability) | $ (51) | $ (221) | |
Designated as Hedging Instrument | Economic hedges: | Forward sale commitments | |||
Interest rate swap agreements and non-hedging derivative assets and liabilities | |||
Notional Amount | $ 5,658 | $ 20,352 | |
Weighted Average Maturity | 2 months 12 days | 2 months 12 days | |
Estimated Fair Value Asset (Liability) | $ (51) | $ (221) | |
Realized gain (loss) | 170 | (78) | |
Not Designated as Hedging Instrument | |||
Interest rate swap agreements and non-hedging derivative assets and liabilities | |||
Notional Amount | $ 4,375 | $ 19,853 | |
Weighted Average Maturity | 2 months 12 days | 2 months 12 days | |
Estimated Fair Value Asset (Liability) | $ 7 | $ (1) | |
Not Designated as Hedging Instrument | Interest rate lock commitments | |||
Interest rate swap agreements and non-hedging derivative assets and liabilities | |||
Notional Amount | $ 4,375 | $ 19,853 | |
Weighted Average Maturity | 2 months 12 days | 2 months 12 days | |
Estimated Fair Value Asset (Liability) | $ 7 | $ (1) | |
Realized gain (loss) | $ 8 | $ 2 |
DERIVATIVE FINANCIAL INSTRUME65
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2014 | |
Derivative [Line Items] | |||
Notional amount | $ 100,033 | $ 130,205 | |
Derivative asset (liability), fair value | 1,171 | 447 | |
Interest rate caps agreements | |||
Derivative [Line Items] | |||
Premiums paid | $ 4,600 | ||
Cap interest rate | 3.00% | ||
Effective percentage interest rate, maximum | 3.00% | ||
Cash Flow Hedges | Designated as Hedging Instrument | |||
Derivative [Line Items] | |||
Notional amount | $ 90,000 | $ 90,000 | |
Remaining weighted average maturity | 4 years 10 months 13 days | 5 years 1 month 6 days | |
Derivative asset (liability), fair value | $ 1,215 | $ 669 | |
Cash Flow Hedges | Designated as Hedging Instrument | Interest rate caps agreements | |||
Derivative [Line Items] | |||
Notional amount | $ 90,000 | $ 90,000 | |
Remaining weighted average maturity | 4 years 10 months 13 days | 5 years 1 month 6 days | |
Derivative asset (liability), fair value | $ 1,215 | $ 669 |
FAIR VALUE MEASUREMENTS - Measu
FAIR VALUE MEASUREMENTS - Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | $ 718,559 | $ 717,242 |
Obligations of US Government sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 6,977 | 6,972 |
US Government-sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 449,175 | 443,003 |
US Government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 90,396 | 95,596 |
Private label | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 616 | 674 |
Obligations of states and political subdivisions thereof | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 135,277 | 140,200 |
Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 36,118 | 30,797 |
Total Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 718,559 | 717,242 |
Derivative assets | 1,222 | 669 |
Derivative liabilities | (51) | (222) |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 718,559 | 717,242 |
Derivative assets | 1,215 | 669 |
Derivative liabilities | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Derivative assets | 7 | 0 |
Derivative liabilities | (51) | (222) |
Recurring | Total Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 669 | |
Derivative assets | 1,222 | (222) |
Derivative liabilities | (51) | |
Recurring | Total Fair Value | Obligations of US Government sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 6,977 | 6,972 |
Recurring | Total Fair Value | US Government-sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 449,175 | 443,003 |
Recurring | Total Fair Value | US Government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 90,396 | 95,596 |
Recurring | Total Fair Value | Private label | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 616 | 674 |
Recurring | Total Fair Value | Obligations of states and political subdivisions thereof | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 135,277 | 140,200 |
Recurring | Total Fair Value | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 36,118 | 30,797 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | |
Derivative assets | 0 | |
Derivative liabilities | 0 | |
Recurring | Level 1 | Obligations of US Government sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 1 | US Government-sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 1 | US Government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 1 | Private label | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 1 | Obligations of states and political subdivisions thereof | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 1 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 669 | |
Derivative assets | 1,215 | |
Derivative liabilities | 0 | |
Recurring | Level 2 | US Government-sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 449,175 | 443,003 |
Recurring | Level 2 | US Government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 90,396 | 95,596 |
Recurring | Level 2 | Private label | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 616 | 674 |
Recurring | Level 2 | Obligations of states and political subdivisions thereof | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 135,277 | 140,200 |
Recurring | Level 2 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 36,118 | 30,797 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | |
Derivative assets | 7 | (222) |
Derivative liabilities | (51) | |
Recurring | Level 3 | Obligations of US Government sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 3 | US Government-sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 3 | US Government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 3 | Private label | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 3 | Obligations of states and political subdivisions thereof | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring | Level 3 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS - Chang
FAIR VALUE MEASUREMENTS - Changes in Level 3 (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Interest Rate Lock Commitment | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |
Beginning balance | $ (1) |
Realized gain recognized in non-interest income | 8 |
Ending balance | 7 |
Forward Commitments | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |
Beginning balance | (221) |
Realized gain recognized in non-interest income | 170 |
Ending balance | $ (51) |
FAIR VALUE MEASUREMENTS - Unobs
FAIR VALUE MEASUREMENTS - Unobservable Inputs Recurring (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Quantitative information about the significant unobservable inputs within Level 3 | ||
Derivative asset (liability), fair value | $ 1,171,000 | $ 447,000 |
Level 3 | Recurring | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Total | (44,000) | |
Level 3 | Recurring | Interest Rate Lock Commitment | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Derivative asset (liability), fair value | $ 7,000 | |
Level 3 | Recurring | Interest Rate Lock Commitment | Pricing Model | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Closing Ratio | 90.00% | |
Origination Costs, per loan | $ 1,700 | |
Level 3 | Recurring | Forward Commitments | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Derivative asset (liability), fair value | $ (51,000) |
FAIR VALUE MEASUREMENTS - Mea69
FAIR VALUE MEASUREMENTS - Measured on Non-recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Assets | ||
Other real estate owned | $ 216 | $ 122 |
Non-recurring | Level 3 | ||
Assets | ||
Total | 20,038 | 15,073 |
Total Gains (Losses) | (4,334) | |
Non-recurring | Level 3 | Impaired loans | ||
Assets | ||
Impaired loans | 15,127 | 10,793 |
Total Gains (Losses) | (4,334) | |
Non-recurring | Level 3 | Capitalized servicing rights | ||
Assets | ||
Capitalized servicing rights | 4,695 | 4,158 |
Total Gains (Losses) | ||
Non-recurring | Level 3 | Other real estate owned | ||
Assets | ||
Other real estate owned | 216 | $ 122 |
Total Gains (Losses) |
FAIR VALUE MEASUREMENTS - Uno70
FAIR VALUE MEASUREMENTS - Unobservable Inputs Non-recurring (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Quantitative information about the significant unobservable inputs within Level 3 | ||
Other real estate owned | $ 216 | $ 122 |
Non-recurring | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Total | 20,038 | 15,073 |
Non-recurring | Fair value of collateral -appraised value | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Impaired loans | 13,364 | 8,586 |
Other real estate owned | 216 | 122 |
Non-recurring | Discount cash flow | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Impaired loans | 1,763 | 2,207 |
Capitalized servicing rights | 4,695 | 4,158 |
Non-recurring | Impaired loans | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Impaired loans | $ 15,127 | $ 10,793 |
Non-recurring | Impaired loans | Minimum | Fair value of collateral -appraised value | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Loss severity | 0.00% | 15.70% |
Appraised value | $ 100 | $ 100 |
Non-recurring | Impaired loans | Minimum | Discount cash flow | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Discount rate | 2.88% | 2.63% |
Cash flows | $ 26 | $ 6 |
Non-recurring | Impaired loans | Maximum | Fair value of collateral -appraised value | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Loss severity | 54.00% | 45.28% |
Appraised value | $ 6,915 | $ 7,545 |
Non-recurring | Impaired loans | Maximum | Discount cash flow | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Discount rate | 9.50% | 9.50% |
Cash flows | $ 570 | $ 320 |
Non-recurring | Capitalized servicing rights | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Capitalized servicing rights | $ 4,695 | $ 4,158 |
Non-recurring | Capitalized servicing rights | Discount cash flow | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Discount rate | 10.10% | 10.10% |
Constant prepayment rate (CPR) | 9.22% | 10.97% |
Non-recurring | Other real estate owned | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Other real estate owned | $ 216 | $ 122 |
Non-recurring | Other real estate owned | Fair value of collateral -appraised value | Level 3 | ||
Quantitative information about the significant unobservable inputs within Level 3 | ||
Appraised value | $ 216 | $ 122 |
FAIR VALUE MEASUREMENTS - Fair
FAIR VALUE MEASUREMENTS - Fair Values and Carrying Amounts (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financial Assets | ||
Securities available for sale | $ 718,559 | $ 717,242 |
Level 1 | ||
Financial Assets | ||
Cash and cash equivalents | 47,813 | 90,685 |
Securities available for sale | 0 | 0 |
FHLB bank stock | 0 | 0 |
Net loans | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Cash surrender value of bank-owned life insurance policies | 0 | 0 |
Derivative assets | 0 | 0 |
Financial Liabilities | ||
Total deposits | 0 | 0 |
Securities sold under agreements to repurchase | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Derivative liabilities | 0 | 0 |
Level 1 | Senior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 0 | 0 |
Level 1 | Junior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 0 | 0 |
Level 2 | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Securities available for sale | 718,559 | 717,242 |
FHLB bank stock | 38,105 | 38,105 |
Net loans | 0 | 0 |
Accrued interest receivable | 3,243 | 3,347 |
Cash surrender value of bank-owned life insurance policies | 58,433 | 57,997 |
Derivative assets | 1,215 | 669 |
Financial Liabilities | ||
Total deposits | 2,260,874 | 2,348,574 |
Securities sold under agreements to repurchase | 31,589 | 40,680 |
Federal Home Loan Bank advances | 707,998 | 744,006 |
Derivative liabilities | 0 | 0 |
Level 2 | Senior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 38,018 | 38,033 |
Level 2 | Junior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 3,809 | 3,782 |
Level 3 | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Securities available for sale | 0 | 0 |
FHLB bank stock | 0 | 0 |
Net loans | 2,408,902 | 2,433,557 |
Accrued interest receivable | 0 | 0 |
Cash surrender value of bank-owned life insurance policies | 0 | 0 |
Derivative assets | 7 | 0 |
Financial Liabilities | ||
Total deposits | 0 | 0 |
Securities sold under agreements to repurchase | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Derivative liabilities | (51) | (222) |
Level 3 | Senior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 0 | 0 |
Level 3 | Junior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 0 | 0 |
Carrying Amount | ||
Financial Assets | ||
Cash and cash equivalents | 47,813 | 90,685 |
Securities available for sale | 718,559 | 717,242 |
FHLB bank stock | 38,105 | 38,105 |
Net loans | 2,451,740 | 2,473,288 |
Accrued interest receivable | 3,243 | 3,347 |
Cash surrender value of bank-owned life insurance policies | 58,433 | 57,997 |
Derivative assets | 1,222 | 669 |
Financial Liabilities | ||
Total deposits | 2,341,400 | 2,352,085 |
Securities sold under agreements to repurchase | 31,615 | 40,706 |
Federal Home Loan Bank advances | 710,583 | 745,982 |
Derivative liabilities | (51) | (222) |
Carrying Amount | Senior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 38,018 | 38,033 |
Carrying Amount | Junior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 5,000 | 5,000 |
Total Fair Value | ||
Financial Assets | ||
Cash and cash equivalents | 47,813 | 90,685 |
Securities available for sale | 718,559 | 717,242 |
FHLB bank stock | 38,105 | 38,105 |
Net loans | 2,408,902 | 2,433,557 |
Accrued interest receivable | 3,243 | 3,347 |
Cash surrender value of bank-owned life insurance policies | 58,433 | 57,997 |
Derivative assets | 1,222 | 669 |
Financial Liabilities | ||
Total deposits | 2,260,874 | 2,348,574 |
Securities sold under agreements to repurchase | 31,589 | 40,680 |
Federal Home Loan Bank advances | 707,998 | 744,006 |
Derivative liabilities | (51) | (222) |
Total Fair Value | Senior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 38,018 | 38,033 |
Total Fair Value | Junior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | $ 3,809 | $ 3,782 |