Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 02, 2019 | |
Document and Entity Information | ||
Entity Registrant Name | BAR HARBOR BANKSHARES | |
Entity Central Index Key | 0000743367 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Current Reporting Status | Yes | |
Entity Common Stock, Shares Outstanding | 15,545,756 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 42,657 | $ 35,208 |
Interest-bearing deposit with the Federal Reserve Bank | 17,203 | 63,546 |
Total cash and cash equivalents | 59,860 | 98,754 |
Securities available for sale, at fair value | 748,560 | 725,837 |
Federal Home Loan Bank stock | 35,220 | 35,659 |
Total securities | 783,780 | 761,496 |
Loans: | ||
Total loans | 2,578,238 | 2,490,227 |
Less: Allowance for loan losses | (14,572) | (13,866) |
Net loans | 2,563,666 | 2,476,361 |
Premises and equipment, net | 50,230 | 48,804 |
Other real estate owned | 2,351 | 2,351 |
Goodwill | 100,085 | 100,085 |
Other intangible assets | 7,072 | 7,459 |
Cash surrender value of bank-owned life insurance | 74,871 | 73,810 |
Deferred tax assets, net | 5,649 | 9,514 |
Other assets | 40,071 | 29,853 |
Total assets | 3,687,635 | 3,608,487 |
Deposits: | ||
Demand | 354,125 | 370,889 |
NOW | 472,576 | 484,717 |
Savings | 352,657 | 358,888 |
Money market | 305,506 | 335,951 |
Time | 996,512 | 932,793 |
Total deposits | 2,481,376 | 2,483,238 |
Borrowings: | ||
Senior | 733,084 | 680,823 |
Subordinated | 42,943 | 42,973 |
Total borrowings | 776,027 | 723,796 |
Other liabilities | 39,670 | 30,874 |
Total liabilities | 3,297,073 | 3,237,908 |
Shareholders’ equity | ||
Capital stock, par value $2.00; authorized 20,000,000 shares; issued 16,428,388 and 16,428,388 shares at June 30, 2019 and December 31, 2018, respectively | 32,857 | 32,857 |
Additional paid-in capital | 188,144 | 187,653 |
Retained earnings | 173,400 | 166,526 |
Accumulated other comprehensive income (loss) | 877 | (11,802) |
Less: 884,082 and 905,201 shares of treasury stock at June 30, 2019 and December 31, 2018, respectively | (4,716) | (4,655) |
Total shareholders’ equity | 390,562 | 370,579 |
Total liabilities and shareholders’ equity | 3,687,635 | 3,608,487 |
Commercial real estate | ||
Loans: | ||
Loans: | 881,479 | 826,699 |
Commercial and industrial | ||
Loans: | ||
Loans: | 416,725 | 404,870 |
Residential real estate | ||
Loans: | ||
Loans: | 1,167,759 | 1,144,698 |
Consumer | ||
Loans: | ||
Loans: | $ 112,275 | $ 113,960 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2019 | Dec. 31, 2018 |
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) | 884,082 | 905,201 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest and dividend income | ||||
Loans | $ 27,660 | $ 25,934 | $ 54,524 | $ 51,060 |
Securities and other | 6,125 | 5,784 | 12,488 | 11,435 |
Total interest and dividend income | 33,785 | 31,718 | 67,012 | 62,495 |
Interest expense | ||||
Deposits | 6,886 | 4,405 | 13,193 | 8,390 |
Borrowings | 5,403 | 4,321 | 10,558 | 7,955 |
Total interest expense | 12,289 | 8,726 | 23,751 | 16,345 |
Net interest income | 21,496 | 22,992 | 43,261 | 46,150 |
Provision for loan losses | 562 | 770 | 886 | 1,565 |
Net interest income after provision for loan losses | 20,934 | 22,222 | 42,375 | 44,585 |
Non-interest income | ||||
Trust and investment management fee income | 3,066 | 3,122 | 5,823 | 6,084 |
Customer service fees | 2,618 | 2,347 | 4,783 | 4,571 |
Bank-owned life insurance income | 519 | 377 | 1,061 | 823 |
Customer derivative income | 696 | 545 | 725 | 545 |
Other income | 554 | 730 | 1,228 | 1,336 |
Total non-interest income | 7,453 | 7,121 | 13,620 | 13,359 |
Non-interest expense | ||||
Salaries and employee benefits | 11,685 | 10,375 | 22,204 | 21,364 |
Occupancy and equipment | 3,300 | 2,925 | 6,686 | 5,998 |
Loss on premises and equipment, net | 21 | 0 | 21 | 0 |
Outside services | 443 | 581 | 854 | 1,141 |
Professional services | 570 | 360 | 1,114 | 793 |
Communication | 283 | 304 | 518 | 484 |
Marketing | 511 | 588 | 806 | 914 |
Amortization of intangible assets | 207 | 207 | 414 | 414 |
Acquisition, conversion and other expenses | 280 | 214 | 280 | 549 |
Other expenses | 3,606 | 3,131 | 6,633 | 5,880 |
Total non-interest expense | 20,906 | 18,685 | 39,530 | 37,537 |
Income before income taxes | 7,481 | 10,658 | 16,465 | 20,407 |
Income tax expense | 1,364 | 2,123 | 3,067 | 4,060 |
Net income | $ 6,117 | $ 8,535 | $ 13,398 | $ 16,347 |
Earnings per share: | ||||
Basic (in dollars per share) | $ 0.39 | $ 0.55 | $ 0.86 | $ 1.06 |
Diluted (in dollars per share) | $ 0.39 | $ 0.55 | $ 0.86 | $ 1.05 |
Weighted average common shares outstanding: | ||||
Basic (in shares) | 15,538,282 | 15,482,188 | 15,530,893 | 15,465,357 |
Diluted (in shares) | 15,585,581 | 15,571,451 | 15,582,233 | 15,559,971 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 6,117 | $ 8,535 | $ 13,398 | $ 16,347 |
Other comprehensive income, before tax: | ||||
Changes in unrealized gain (loss) on securities available-for-sale | 9,646 | (3,087) | 18,546 | (13,789) |
Changes in unrealized (loss) gain on cash flow hedging derivatives | (1,157) | (2,002) | ||
Changes in unrealized (loss) gain on cash flow hedging derivatives | 226 | 880 | ||
Changes in unrealized loss on pension | 0 | 0 | 0 | 41 |
Income taxes related to other comprehensive income: | ||||
Changes in unrealized (gain) loss on securities available-for-sale | (2,255) | 731 | (4,334) | 3,274 |
Changes in unrealized loss (gain) on cash flow hedging derivatives | 271 | 469 | ||
Changes in unrealized loss (gain) on cash flow hedging derivatives | (54) | (209) | ||
Changes in unrealized loss on pension | 0 | 0 | 0 | (10) |
Total other comprehensive income (loss) | 6,505 | (2,184) | 12,679 | (9,813) |
Total comprehensive income | $ 12,622 | $ 6,351 | $ 26,077 | $ 6,534 |
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 (loss) | Treasury stock |
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 | ||||
Total other comprehensive income (loss) | (7,629) | (7,629) | ||||
Cash dividends declared | (2,884) | (2,884) | ||||
Net issuance to employee stock plans, including related tax effects | 15 | (112) | 127 | |||
Modified retrospective basis adoption of Revenue Recognition Accounting Codification Standard 606 | (184) | |||||
Modified retrospective basis adoption of Revenue Recognition Accounting Codification Standard 606 | Accounting Standards Update 2014-09 | (184) | |||||
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) | ||||
Recognition of stock based compensation | 379 | 379 | ||||
Balance at end of period at Mar. 31, 2018 | 352,150 | 32,857 | 186,969 | 150,701 | (13,163) | (5,214) |
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 | 16,347 | |||||
Total other comprehensive income (loss) | (9,813) | |||||
Total comprehensive income | 6,534 | |||||
Balance at end of period at Jun. 30, 2018 | 355,963 | 32,857 | 187,198 | 156,139 | (15,347) | (4,884) |
Balance at beginning of period at Mar. 31, 2018 | 352,150 | 32,857 | 186,969 | 150,701 | (13,163) | (5,214) |
Comprehensive income: | ||||||
Net income | 8,535 | 8,535 | ||||
Total other comprehensive income (loss) | (2,184) | (2,184) | ||||
Total comprehensive income | 6,351 | |||||
Cash dividends declared | (3,097) | (3,097) | ||||
Treasury stock purchased (9,294 shares) | (278) | (278) | ||||
Net issuance to employee stock plans, including related tax effects | 589 | (19) | 608 | |||
Recognition of stock based compensation | 248 | 248 | ||||
Balance at end of period at Jun. 30, 2018 | 355,963 | 32,857 | 187,198 | 156,139 | (15,347) | (4,884) |
Balance at beginning of period at Dec. 31, 2018 | 370,579 | 32,857 | 187,653 | 166,526 | (11,802) | (4,655) |
Comprehensive income: | ||||||
Net income | 7,281 | 7,281 | ||||
Total other comprehensive income (loss) | 6,174 | 6,174 | ||||
Cash dividends declared | (3,105) | (3,105) | ||||
Net issuance to employee stock plans, including related tax effects | (169) | (173) | 4 | |||
Recognition of stock based compensation | 263 | 263 | ||||
Balance at end of period at Mar. 31, 2019 | 381,023 | 32,857 | 187,743 | 170,702 | (5,628) | (4,651) |
Balance at beginning of period at Dec. 31, 2018 | 370,579 | 32,857 | 187,653 | 166,526 | (11,802) | (4,655) |
Comprehensive income: | ||||||
Net income | 13,398 | |||||
Total other comprehensive income (loss) | 12,679 | |||||
Total comprehensive income | 26,077 | |||||
Balance at end of period at Jun. 30, 2019 | 390,562 | 32,857 | 188,144 | 173,400 | 877 | (4,716) |
Balance at beginning of period at Mar. 31, 2019 | 381,023 | 32,857 | 187,743 | 170,702 | (5,628) | (4,651) |
Comprehensive income: | ||||||
Net income | 6,117 | 6,117 | ||||
Total other comprehensive income (loss) | 6,505 | 6,505 | ||||
Total comprehensive income | 12,622 | |||||
Cash dividends declared | (3,419) | (3,419) | ||||
Treasury stock purchased (9,294 shares) | (210) | (210) | ||||
Net issuance to employee stock plans, including related tax effects | 249 | 104 | 145 | |||
Recognition of stock based compensation | 297 | 297 | ||||
Balance at end of period at Jun. 30, 2019 | $ 390,562 | $ 32,857 | $ 188,144 | $ 173,400 | $ 877 | $ (4,716) |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Mar. 31, 2019 | Mar. 31, 2018 | Jun. 30, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash dividends declared (in dollars per share) | $ 0.22 | $ 0.20 | $ 0.19 | $ 0.20 |
Stock issued during period (in shares) | 20,678 | 441 | 16,180 | 46,532 |
Treasury stock purchased (in shares) | 8,010 | 9,294 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net income | $ 13,398 | $ 16,347 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 886 | 1,565 |
Net amortization of securities | 1,735 | 2,089 |
Change in unamortized net loan costs and premiums | (190) | 214 |
Premises and equipment depreciation | 1,905 | 1,676 |
Stock-based compensation expense | 560 | 627 |
Accretion of purchase accounting entries, net | (1,017) | (1,240) |
Amortization of other intangibles | 414 | 414 |
Income from cash surrender value of bank-owned life insurance policies | (1,061) | (823) |
Loss on premises and equipment, net | 21 | 0 |
Net change in other assets and liabilities | (3,052) | (5,695) |
Net cash provided by operating activities | 13,599 | 15,174 |
Cash flows from investing activities: | ||
Proceeds from maturities, calls and prepayments of securities available for sale | 50,546 | 48,942 |
Purchases of securities available for sale | (56,831) | (57,725) |
Net change in loans | (86,745) | 693 |
Purchase of Federal Home Loan Bank stock | (9,720) | (848) |
Proceeds from sale of Federal Home Loan Bank stock | 10,159 | 241 |
Purchase of premises and equipment, net | (3,352) | (2,002) |
Proceeds from sale of other real estate owned | 0 | 94 |
Net cash used in investing activities | (95,943) | (10,605) |
Cash flows from financing activities: | ||
Net (decrease) increase in deposits | (1,448) | 22,558 |
Net change in short-term advances from the Federal Home Loan Bank | (62,510) | (47,467) |
Net change in long-term advances from the Federal Home Loan Bank | 114,062 | (3,297) |
Exercise of stock options | 80 | 604 |
Treasury stock purchased | (210) | (278) |
Cash dividends paid on common stock | (6,524) | (5,981) |
Net cash provided by (used in) financing activities | 43,450 | (33,861) |
Net change in cash and cash equivalents | (38,894) | (29,292) |
Cash and cash equivalents at beginning of year | 98,754 | 90,685 |
Cash and cash equivalents at end of year | 59,860 | 61,393 |
Supplemental cash flow information: | ||
Interest paid | 22,577 | 17,182 |
Income taxes paid, net | 1,685 | 6,218 |
Other non-cash changes: | ||
Real estate owned acquired in settlement of loans | $ 0 | $ 124 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2019 | |
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, 2018 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. 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 2019 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 is required to be adopted on a modified retrospective basis and allows for practical expedients and elections in conjunction with implementation. The Company may elect some of the expedients upon the adoption date, which may be applied prospectively or retrospectively. January 1, 2019 The Company adopted this ASU as of January 1, 2019 including the election of the practical expedients, allowing for existing leases to be accounted for consistent with current guidance, with the exception of balance sheet recognition for lessees. A modified retrospective transition approach was utilized, applying the new standard to all leases existing at the date of initial application. At January 1, 2019 the Company recognized a right-of-use asset and corresponding lease liability of $9.0 million. This computation is based, primarily, on the present value of unpaid future minimum lease payments. Additionally, that amount is impacted by assumptions around renewals and/or extensions, and the interest rate used to discount those future lease obligations. Due to the limited size of the Company's leasing portfolio, many other items related to this standard don't apply, or had an immaterial impact on the Company's consolidated financial statements. For transitional disclosures see Note 12 - Leases. ASU 2018-11 Practical Expedients to Topic 842, Leases ASU 2018-20 Scope Improvements for Lessors ASU 2019-01 Leases: Codification Improvements ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities This ASU amends Accounting Standards Codification ("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 The Company adopted this ASU as of January 1, 2019, although it did not have a material impact on the Company's consolidated financial statements. ASU 2018-16, Inclusion of Overnight Financing Rate or Overnight Swap Rate as a Benchmark for Hedge Accounting ASU 2018-07, Share Based Payment Accounting This ASU expands the scope of Topic 718, Compensation- Stock Compensation to include share-based payments issued to non-employees for goods or services. Consequently, the accounting for share-based payments to non-employees and employees will be substantially aligned. The ASU supersedes Subtopic 505-50, Equity-Based Payments to non-employees. January 1, 2019 The Company adopted this ASU as of January 1, 2019, with no material impact on the Company's consolidated financial statements. Standard Description Required Date of Adoption Effect on financial statements Standards Not Yet Adopted 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 certain off-balance sheet exposures. 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 on loans with the application of the expected credit loss model. Also, for acquired purchased impaired loans it requires the reclassification of the credit portion of the total remaining fair value adjustment directly to the allowance for loan losses. Fair value adjustments on purchased credit impaired loans related to interest rates and fair value adjustments on other acquired loans will continue to be accreted into income over time. ASU 2018-19, Codification Improvements to ASU 2016-13 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 and may allow for recovery of these amounts in the future. 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 available for sale securities with unrealized losses, rather than reduce the amortized cost of the securities by direct write-offs. The guidances will require companies to recognize improvements to estimated credit losses immediately in earning rather than interest income over time. The Company is in the process of evaluating and implementing allowance loan loss estimation models to comply with the guidance under this ASU, which may result in a higher allowance for losses then currently recorded under the existing standard. 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. Early adoption is permitted in 2019 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 2018-13 Changes to Disclosure Requirements Fair Value Measurement, Topic 820 This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. January 1, 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 2018-14 Compensation- Disclosure Requirements for Defined Pension Plans Topic 715-20 This ASU makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other post-retirement benefit plans. January 1, 2021 Adoption of this ASU is not expected to have a material impact on the Company's consolidated financial statements. Early adoption is permitted. |
SECURITIES AVAILABLE FOR SALE
SECURITIES AVAILABLE FOR SALE | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 Debt securities: Mortgage-backed securities: US Government-sponsored enterprises $ 401,311 $ 4,795 $ 2,578 $ 403,528 US Government agency 118,583 1,785 383 119,985 Private label 20,306 80 225 20,161 Obligations of states and political subdivisions thereof 124,254 3,130 306 127,078 Corporate bonds 76,864 1,200 256 77,808 Total securities available for sale $ 741,318 $ 10,990 $ 3,748 $ 748,560 December 31, 2018 Debt securities: Mortgage-backed securities: US Government-sponsored enterprises $ 413,492 $ 904 $ 9,444 $ 404,952 US Government agency 111,938 509 1,935 110,512 Private label 20,353 113 84 20,382 Obligations of states and political subdivisions thereof 133,260 1,081 2,076 132,265 Corporate bonds 58,098 264 636 57,726 Total securities available for sale $ 737,141 $ 2,871 $ 14,175 $ 725,837 The amortized cost and estimated fair value of available for sale (“AFS”) securities segregated by contractual maturity at June 30, 2019 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 $ 275 $ 276 Over 1 year to 5 years 42,015 42,878 Over 5 years to 10 years 61,672 62,668 Over 10 years 97,156 99,064 Total bonds and obligations 201,118 204,886 Mortgage-backed securities 540,200 543,674 Total securities available for sale $ 741,318 $ 748,560 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 June 30, 2019 Debt securities: Mortgage-backed securities: US Government-sponsored enterprises $ 230 $ 6,510 $ 2,348 $ 119,451 $ 2,578 $ 125,961 US Government agency 5 3,160 378 26,316 383 29,476 Private label 221 19,729 4 40 225 19,769 Obligations of states and political subdivisions thereof — — 306 12,086 306 12,086 Corporate bonds 109 10,012 147 2,122 256 12,134 Total securities available for sale $ 565 $ 39,411 $ 3,183 $ 160,015 $ 3,748 $ 199,426 December 31, 2018 Debt securities: Mortgage-backed securities: US Government-sponsored enterprises $ 155 $ 19,367 $ 9,289 $ 297,569 $ 9,444 $ 316,936 US Government agency 16 2,570 1,919 68,266 1,935 70,836 Private label 79 10,393 5 47 84 10,440 Obligations of states and political subdivisions thereof 43 6,784 2,033 47,930 2,076 54,714 Corporate bonds 224 11,759 412 14,460 636 26,219 Total securities available for sale $ 517 $ 50,873 $ 13,658 $ 428,272 $ 14,175 $ 479,145 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 and six months ended June 30, 2019 and 2018 the Company did not record any other-than-temporary impairment (“OTTI”) losses. Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Estimated credit losses as of prior year-end $ 1,697 $ 1,697 $ 1,697 $ 1,697 Reductions for securities paid off during the period — — — — Estimated credit losses at end of the period $ 1,697 $ 1,697 $ 1,697 $ 1,697 The Company expects to recover its amortized cost basis on all 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 June 30, 2019 , 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 that securities in an unrealized loss position were not other-than-temporarily impaired at June 30, 2019 : US Government-sponsored enterprises 249 out of the total 752 securities in the Company’s portfolios of AFS US Government-sponsored enterprises were in unrealized loss positions. Aggregate unrealized losses represented 2.0% 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 57 out of the total 196 securities in the Company’s portfolios of AFS US Government agency securities were in unrealized loss positions. Aggregate unrealized losses represented 1.3% 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 Seven of the total 20 securities in the Company’s portfolio of AFS private label mortgage-backed securities were in unrealized loss positions. Aggregate unrealized losses represented 1.1% of the amortized cost of securities in unrealized loss positions. Based upon 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 20 of the total 239 securities in the Company’s portfolio of AFS municipal bonds and obligations were in unrealized loss positions. Aggregate unrealized losses represented 2.5% 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 Five out of the total 27 securities in the Company’s portfolio of AFS corporate bonds were in an unrealized loss position. The aggregate unrealized loss represents 2.1% 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. |
LOANS
LOANS | 6 Months Ended |
Jun. 30, 2019 | |
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 include multi-family, commercial construction and land development, and other commercial real estate classes. Commercial and industrial loans include loans to commercial and agricultural businesses and tax exempt entities. Residential real estate loans consist of mortgages for 1-to-4 family housing. Consumer loans include home equity loans, auto and other installment loans. 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 previously acquired from other institutions. The following is a summary of total loans: June 30, 2019 December 31, 2018 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Commercial real estate: Construction and land development $ 33,524 $ 2,858 $ 36,382 $ 23,754 $ 2,890 $ 26,644 Other commercial real estate 615,743 229,354 845,097 555,980 244,075 800,055 Total commercial real estate 649,267 232,212 881,479 579,734 246,965 826,699 Commercial and industrial: Commercial 244,515 45,867 290,382 234,757 52,470 287,227 Agricultural 21,647 — 21,647 22,317 — 22,317 Tax exempt 67,374 37,322 104,696 56,588 38,738 95,326 Total commercial and industrial 333,536 83,189 416,725 313,662 91,208 404,870 Total commercial loans 982,803 315,401 1,298,204 893,396 338,173 1,231,569 Residential real estate: Residential mortgages 731,443 436,316 1,167,759 670,189 474,509 1,144,698 Total residential real estate 731,443 436,316 1,167,759 670,189 474,509 1,144,698 Consumer: Home equity 60,323 40,135 100,458 57,898 45,291 103,189 Other consumer 10,678 1,139 11,817 9,414 1,357 10,771 Total consumer 71,001 41,274 112,275 67,312 46,648 113,960 Total loans $ 1,785,247 $ 792,991 $ 2,578,238 $ 1,630,897 $ 859,330 $ 2,490,227 The carrying amount of the acquired loans at June 30, 2019 totaled $793.0 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 $10.1 million (and total note balances of $13.5 million ). These loans are evaluated for impairment through the periodic reforecasting of expected cash flows. Acquired loans considered not impaired at the acquisition date had a carrying amount of $782.9 million as of June 30, 2019 . 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 June 30, (in thousands) 2019 2018 Balance at beginning of period $ 4,150 $ 3,347 Reclassification from non-accretable difference for loans with improved (decreased) cash flows 402 (153 ) Accretion (357 ) (387 ) Balance at end of period $ 4,195 $ 2,807 Six Months Ended June 30, (in thousands) 2019 2018 Balance at beginning of period $ 4,377 $ 3,509 Reclassification from non-accretable difference for loans with improved cash flows 624 46 Accretion (806 ) (748 ) Balance at end of period $ 4,195 $ 2,807 The following is a summary of past due loans at June 30, 2019 and December 31, 2018 : 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 June 30, 2019 Commercial real estate: Construction and land development $ 73 $ — $ — $ 73 $ 33,451 $ 33,524 $ — Other commercial real estate 958 831 5,256 7,045 608,698 615,743 — Total commercial real estate 1,031 831 5,256 7,118 642,149 649,267 — Commercial and industrial: Commercial 144 385 600 1,129 243,386 244,515 — Agricultural 167 — 25 192 21,455 21,647 — Tax exempt — — — — 67,374 67,374 — Total commercial and industrial 311 385 625 1,321 332,215 333,536 — Total commercial loans 1,342 1,216 5,881 8,439 974,364 982,803 — Residential real estate: Residential mortgages 1,194 233 1,744 3,171 728,272 731,443 124 Total residential real estate 1,194 233 1,744 3,171 728,272 731,443 124 Consumer: Home equity 253 72 349 674 59,649 60,323 — Other consumer 19 7 — 26 10,652 10,678 — Total consumer 272 79 349 700 70,301 71,001 — Total loans $ 2,808 $ 1,528 $ 7,974 $ 12,310 $ 1,772,937 $ 1,785,247 $ 124 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 June 30, 2019 Commercial real estate: Construction and land development $ — $ — $ — $ — $ 181 $ 2,858 $ — Other commercial real estate 810 63 258 1,131 6,209 229,354 — Total commercial real estate 810 63 258 1,131 6,390 232,212 — Commercial and industrial: Commercial 98 36 455 589 509 45,867 — Agricultural — — — — — — — Tax exempt — — — — — 37,322 — Total commercial and industrial 98 36 455 589 509 83,189 — Total commercial loans 908 99 713 1,720 6,899 315,401 — Residential real estate: Residential mortgages 1,014 735 562 2,311 3,152 436,316 — Total residential real estate 1,014 735 562 2,311 3,152 436,316 — Consumer: Home equity 312 43 16 371 20 40,135 — Other consumer — — — — — 1,139 — Total consumer 312 43 16 371 20 41,274 — Total loans $ 2,234 $ 877 $ 1,291 $ 4,402 $ 10,071 $ 792,991 $ — 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, 2018 Commercial real estate: Construction and land development $ — $ — $ — $ — $ 23,754 $ 23,754 $ — Other commercial real estate 1,146 — 6,725 7,871 548,109 555,980 — Total commercial real estate 1,146 — 6,725 7,871 571,863 579,734 — Commercial and industrial: Commercial 395 60 402 857 233,900 234,757 50 Agricultural 65 6 25 96 22,221 22,317 — Tax exempt — — — — 56,588 56,588 — Total commercial and industrial 460 66 427 953 312,709 313,662 50 Total commercial loans 1,606 66 7,152 8,824 884,572 893,396 50 Residential real estate: Residential mortgages 3,565 641 1,309 5,515 664,674 670,189 — Total residential real estate 3,565 641 1,309 5,515 664,674 670,189 — Consumer: Home equity 72 — — 72 57,826 57,898 — Other consumer 17 — 11 28 9,386 9,414 — Total consumer 89 — 11 100 67,212 67,312 — Total loans $ 5,260 $ 707 $ 8,472 $ 14,439 $ 1,616,458 $ 1,630,897 $ 50 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, 2018 Commercial real estate: Construction and land development $ — $ — $ — $ — $ 164 $ 2,890 $ — Other commercial real estate 631 99 211 941 6,143 244,075 — Total commercial real estate 631 99 211 941 6,307 246,965 — Commercial and industrial: Commercial 149 26 494 669 679 52,470 — Agricultural — — — — — — — Tax exempt — — — — — 38,738 — Total commercial and industrial 149 26 494 669 679 91,208 — Total commercial loans 780 125 705 1,610 6,986 338,173 — Residential real estate: Residential mortgages 3,419 254 1,792 5,465 3,095 474,509 — Total residential real estate 3,419 254 1,792 5,465 3,095 474,509 — Consumer: Home equity 198 — 66 264 22 45,291 7 Other consumer 17 — — 17 3 1,357 189 Total consumer 215 — 66 281 25 46,648 196 Total loans $ 4,414 $ 379 $ 2,563 $ 7,356 $ 10,106 $ 859,330 $ 196 Non-Accrual Loans The following is summary information pertaining to non-accrual loans at June 30, 2019 and December 31, 2018 : June 30, 2019 December 31, 2018 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Commercial real estate: Construction and land development $ 1 $ — $ 1 $ 1 $ — $ 1 Other commercial real estate 6,698 349 7,047 7,873 282 8,155 Total commercial real estate 6,699 349 7,048 7,874 282 8,156 Commercial and industrial: Commercial 1,254 584 1,838 1,423 643 2,066 Agricultural 243 — 243 265 — 265 Tax exempt — — — — — — Total commercial and industrial 1,497 584 2,081 1,688 643 2,331 Total commercial loans 8,196 933 9,129 9,562 925 10,487 Residential real estate: Residential mortgages 4,023 1,942 5,965 4,213 2,997 7,210 Total residential real estate 4,023 1,942 5,965 4,213 2,997 7,210 Consumer: Home equity 585 194 779 246 201 447 Other consumer 82 — 82 90 1 91 Total consumer 667 194 861 336 202 538 Total loans $ 12,886 $ 3,069 $ 15,955 $ 14,111 $ 4,124 $ 18,235 Loans evaluated for impairment as of June 30, 2019 and December 31, 2018 are, as follows: Business Activities Loans (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total June 30, 2019 Balance at end of period Individually evaluated for impairment $ 8,737 $ 1,385 $ 2,669 $ 13 $ 12,804 Collectively evaluated 640,530 332,151 728,774 70,988 1,772,443 Total $ 649,267 $ 333,536 $ 731,443 $ 71,001 $ 1,785,247 Acquired Loans (in thousands) Commercial Commercial and industrial Residential Consumer Total June 30, 2019 Balance at end of period Individually evaluated for impairment $ 258 $ 417 $ 721 $ — $ 1,396 Purchased credit impaired 6,390 509 3,152 20 10,071 Collectively evaluated 225,564 82,263 432,443 41,254 781,524 Total $ 232,212 $ 83,189 $ 436,316 $ 41,274 $ 792,991 Business Activities Loans (in thousands) Commercial Commercial and industrial Residential Consumer Total December 31, 2018 Balance at end of period Individually evaluated for impairment $ 9,835 $ 1,445 $ 2,562 $ 13 $ 13,855 Collectively evaluated 569,899 312,217 667,627 67,299 1,617,042 Total $ 579,734 $ 313,662 $ 670,189 $ 67,312 $ 1,630,897 Acquired Loans (in thousands) Commercial Commercial and industrial Residential Consumer Total December 31, 2018 Balance at end of period Individually evaluated for impairment $ 188 $ 426 $ 744 $ — $ 1,358 Purchased credit impaired 6,307 679 3,095 25 10,106 Collectively evaluated 240,470 90,103 470,670 46,623 847,866 Total $ 246,965 $ 91,208 $ 474,509 $ 46,648 $ 859,330 The following is a summary of impaired loans at June 30, 2019 and December 31, 2018 : Business Activities Loans June 30, 2019 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Other commercial real estate 7,502 7,552 — Commercial 975 1,032 — Agricultural — — — Tax exempt loans — — — Residential real estate 2,099 2,246 — Home equity — — — Other consumer — — — With an allowance recorded: Construction and land development $ 1 $ 1 $ 1 Other commercial real estate 1,234 1,332 448 Commercial 410 438 39 Agricultural — — — Tax exempt loans — — — Residential real estate 570 597 75 Home equity 13 13 1 Other consumer — — — Total Commercial real estate $ 8,737 $ 8,885 $ 449 Commercial and industrial 1,385 1,470 39 Residential real estate 2,669 2,843 75 Consumer 13 13 1 Total impaired loans $ 12,804 $ 13,211 $ 564 Acquired Loans June 30, 2019 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Other commercial real estate 188 187 — Commercial 417 505 — Agricultural — — — Tax exempt loans — — — Residential real estate 361 518 — Home equity — — — Other consumer — — — With an allowance recorded: Construction and land development $ — $ — $ — Other commercial real estate 70 71 12 Commercial — — — Agricultural — — — Tax exempt loans — — — Residential real estate 360 377 35 Home equity — — — Other consumer — — — Total Commercial real estate $ 258 $ 258 $ 12 Commercial and industrial 417 505 — Residential real estate 721 895 35 Consumer — — — Total impaired loans $ 1,396 $ 1,658 $ 47 Business Activities Loans December 31, 2018 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Other commercial real estate 8,209 8,301 — Commercial 649 669 — Agricultural — — — Tax exempt loans — — — Residential real estate 1,671 1,709 — Home equity — — — Other consumer — — — With an allowance recorded: Construction and land development $ 1 $ 1 $ 1 Other commercial real estate 1,625 1,660 421 Commercial 796 855 78 Agricultural — — — Tax exempt loans — — — Residential real estate 891 916 111 Home equity 13 13 — Other consumer — — — Total Commercial real estate $ 9,835 $ 9,962 $ 422 Commercial and industrial 1,445 1,524 78 Residential real estate 2,562 2,625 111 Consumer 13 13 — Total impaired loans $ 13,855 $ 14,124 $ 611 Acquired Loans December 31, 2018 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Other commercial real estate 188 187 — Commercial 426 510 — Agricultural — — — Tax exempt — — — Residential mortgages 375 524 — Home equity — — — Other consumer — — — With an allowance recorded: Construction and land development $ — $ — $ — Other commercial real estate — — — Commercial — — — Agricultural — — — Tax exempt — — — Residential mortgages 369 379 41 Home equity — — — Other consumer — — — Total Commercial real estate $ 188 $ 187 $ — Commercial and industrial 426 510 — Residential real estate 744 903 41 Consumer — — — Total impaired loans $ 1,358 $ 1,600 $ 41 The following is a summary of the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2019 and 2018 : Business Activities Loans Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance: Construction and land development $ — $ — $ — $ — Other commercial real estate 7,499 20 6,519 9 Commercial 940 2 731 3 Agricultural — — — — Tax exempt loans — — — — Residential real estate 2,104 16 4,057 9 Home equity — — 303 — Other consumer — — — — With an allowance recorded: Construction and land development $ 1 $ — $ — $ — Other commercial real estate 1,396 — 1,328 — Commercial 412 — 783 — Agricultural — — — — Tax exempt loans — — — — Residential real estate 572 3 798 2 Home equity 13 — — — Other consumer — — — — Total Commercial real estate $ 8,896 $ 20 $ 7,847 $ 9 Commercial and industrial 1,352 2 1,514 3 Residential real estate 2,676 19 4,855 11 Consumer 13 — 303 — Total impaired loans $ 12,937 $ 41 $ 14,519 $ 23 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance: Construction and land development $ — $ — $ — $ — Other commercial real estate 7,219 46 6,364 15 Commercial 931 3 680 5 Agricultural — — — — Tax exempt loans — — — — Residential real estate 2,113 31 4,063 19 Home equity — — 288 — Other consumer — — — — With an allowance recorded: Construction and land development $ 3 $ — $ — $ — Other commercial real estate 1,497 — 1,073 — Commercial 417 — 647 — Agricultural — — — — Tax exempt loans — — — — Residential real estate 534 5 696 5 Home equity 13 — — — Other consumer — — — — Total Commercial real estate $ 8,719 $ 46 $ 7,437 $ 15 Commercial and industrial 1,348 3 1,327 5 Residential real estate 2,647 36 4,759 24 Consumer 13 — 288 — Total impaired loans $ 12,727 $ 85 $ 13,811 $ 44 Acquired Loans Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance: Construction and land development $ — $ — $ — $ — Other commercial real estate 187 — 230 — Commercial 412 — 49 — Agricultural — — — — Tax exempt loans — — — — Residential real estate 426 — 93 — Home equity — — — — Other consumer — — — — With an allowance recorded: Construction and land development $ — $ — $ — $ — Other commercial real estate 71 — — — Commercial — — 383 1 Agricultural — — — — Tax exempt loans — — — — Residential real estate 363 — — — Home equity — — — — Other consumer — — — — Total Commercial real estate $ 258 $ — $ 230 $ — Commercial and industrial 412 — 432 1 Residential real estate 789 — 93 — Consumer — — — — Total impaired loans $ 1,459 $ — $ 755 $ 1 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance: Construction and land development $ — $ — $ — $ — Other commercial real estate 157 — 230 1 Commercial 446 — 49 — Agricultural — — — — Tax exempt loans — — — — Residential real estate 431 — 47 — Home equity — — — — Other consumer — — — — With an allowance recorded: Construction and land development $ — $ — $ — $ — Other commercial real estate 36 — — — Commercial — — 383 1 Agricultural — — — — Tax exempt loans — — — — Residential real estate 365 — — — Home equity — — — — Other consumer — — — — Total Commercial real estate $ 193 $ — $ 230 $ 1 Commercial and industrial 446 — 432 1 Residential real estate 796 — 47 — Consumer — — — — Total impaired loans $ 1,435 $ — $ 709 $ 2 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 non-performing 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 and six months ended June 30, 2019 and 2018, 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. Modifications may include adjustments to interest rates, payment amounts, extensions of maturity, court ordered concessions or other actions intended to minimize economic loss and avoid foreclosure or repossession of collateral. Three Months Ended June 30, 2019 (in thousands, except modifications) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Other commercial real estate 2 $ 186 $ 177 Commercial 1 12 12 Residential mortgages 2 152 116 Total 5 $ 350 $ 305 Three Months Ended June 30, 2018 (in thousands, except modifications) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Other commercial real estate 5 $ 1,641 $ 1,390 Residential mortgages 7 1,091 1,060 Home equity 1 100 100 Other consumer 1 4 4 Total 14 $ 2,836 $ 2,554 Six Months Ended June 30, 2019 (in thousands) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Other commercial real estate 5 $ 299 $ 290 Other commercial 3 43 43 Residential mortgages 8 682 644 Total 16 $ 1,024 $ 977 Six Months Ended June 30, 2018 (in thousands) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Other commercial real estate 7 $ 1,674 $ 1,409 Other commercial 2 452 437 Agricultural 1 167 — Residential mortgages 12 2,196 1,646 Home equity 1 100 100 Other consumer 2 5 5 Total 25 $ 4,594 $ 3,597 The following tables summarize the types of loan concessions made for the periods presented: Three Months Ended June 30, 2019 2018 (in thousands, except modifications) Number of Modifications Post-Modification Outstanding Recorded Investment Number of Modifications Post-Modification Outstanding Recorded Investment Interest only payments and maturity concession 1 $ 70 — $ — Forbearance — — 2 158 Forbearance and interest only payments 2 131 — — Forbearance and maturity concession 1 46 7 779 Restructure with maturity concession — — 4 1,334 Other 1 58 1 283 Total 5 $ 305 14 $ 2,554 Six Months Ended June 30, 2019 2018 (in thousands, except modifications) Number of Modifications Post-Modification Outstanding Recorded Investment Number of Modifications Post-Modification Outstanding Recorded Investment Interest rate and maturity concession — $ — 1 $ 17 Interest only payments and maturity concession 2 75 — — Amortization and maturity concession 4 275 — — Forbearance 1 77 2 158 Forbearance and interest only payments 4 243 3 51 Forbearance and maturity concession 4 249 12 1,331 Maturity concession — — 1 423 Restructure with maturity concession — — 4 1,334 Other 1 58 2 283 Total 16 $ 977 25 $ 3,597 For the three and six months ended June 30, 2019 , there were no loans that were 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 June 30, 2019 and December 31, 2018, the Company maintained bank-owned residential real estate property with a fair value of $2.4 million . Additionally, residential mortgage loans collateralized by real estate property that are in the process of foreclosure as of June 30, 2019 and December 31, 2018 totaled $886 thousand and $1.5 million , respectively. Mortgage Banking Total residential loans included held for sale loans of $3.5 million and $168 thousand at June 30, 2019 and December 31, 2018 , respectively. |
ALLOWANCE FOR LOAN LOSSES
ALLOWANCE FOR LOAN LOSSES | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
ALLOWANCE FOR LOAN LOSSES | ALLOWANCE FOR LOAN LOSSES The allowance for loan losses is maintained at a level considered adequate to provide for an estimate of probable credit losses inherent in the loan portfolio. The allowance is increased by the provision charged to operating expense and reduced by net charge-offs. Loans are charged against the allowance for loan losses when the Company believes collectability has declined to a point where there is a distinct possibility of some loss of principal and interest. While the Company uses the best information available to make the 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 employed on a quarterly basis with respect to each of these components in order to evaluate the overall adequacy of the Company's allowance for loan losses is as follows: Specific Reserve for Loans Individually Evaluated First, the Company identifies loan relationships having aggregate balances in excess of $150 thousand with potential credit weaknesses. Such loan relationships are identified primarily through the Company's analysis of internal loan evaluations, past due loan reports, TDRs and loans adversely classified. 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 Company will be unable to collect all amounts due according to the contractual terms of the original loan agreement. Substantially all 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, the Company measures 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. The Company's 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, the Company stratifies the loan portfolio into two general business loan pools: substandard (7 risk-rated) and pass-rated (0 to 6 risk-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, the Company considers the necessity to adjust the 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 Company’s loan review system, (7) concentrations in the loan 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 is generated utilizing a charge-off look-back analysis, which evaluates 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 establishes 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 and six months ended June 30, 2019 and 2018 are, as follows: Business Activities Loans At or for the Three Months Ended June 30, 2019 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 6,575 $ 2,778 $ 3,953 $ 396 $ 13,702 Charged-off loans — (13 ) — (22 ) (35 ) Recoveries on charged-off loans 114 1 — 2 117 (Releases) provision for loan losses 517 (18 ) (11 ) 18 506 Balance at end of period $ 7,206 $ 2,748 $ 3,942 $ 394 $ 14,290 Individually evaluated for impairment 449 39 75 1 564 Collectively evaluated 6,757 2,709 3,867 393 13,726 Total $ 7,206 $ 2,748 $ 3,942 $ 394 $ 14,290 Business Activities Loans At or for the Six Months Ended June 30, 2019 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 6,811 $ 2,380 $ 3,982 $ 408 $ 13,581 Charged-off loans (57 ) (13 ) — (75 ) (145 ) Recoveries on charged-off loans 130 1 18 6 155 (Releases) provision for loan losses 322 380 (58 ) 55 699 Balance at end of period $ 7,206 $ 2,748 $ 3,942 $ 394 $ 14,290 Individually evaluated for impairment 449 39 75 1 564 Collectively evaluated 6,757 2,709 3,867 393 13,726 Total $ 7,206 $ 2,748 $ 3,942 $ 394 $ 14,290 Acquired Loans At or for the Three Months Ended June 30, 2019 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 161 $ 29 $ 105 $ — $ 295 Charged-off loans — — (65 ) (4 ) (69 ) Recoveries on charged-off loans — — — — — (Releases) provision for loan losses (2 ) (7 ) 61 4 56 Balance at end of period $ 159 $ 22 $ 101 $ — $ 282 Individually evaluated for impairment 12 — 35 — 47 Collectively evaluated 147 22 66 — 235 Total $ 159 $ 22 $ 101 $ — $ 282 Acquired Loans At or for the Six Months Ended June 30, 2019 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 173 $ 35 $ 77 $ — $ 285 Charged-off loans — (15 ) (170 ) (5 ) (190 ) Recoveries on charged-off loans — — — — — (Releases) provision for loan losses (14 ) 2 194 5 187 Balance at end of period $ 159 $ 22 $ 101 $ — $ 282 Individually evaluated for impairment 12 — 35 — 47 Collectively evaluated 147 22 66 — 235 Total $ 159 $ 22 $ 101 $ — $ 282 Business Activities Loans At or for the Three Months Ended June 30, 2018 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 5,998 $ 2,612 $ 3,304 $ 500 $ 12,414 Charged-off loans (156 ) (27 ) — (216 ) (399 ) Recoveries on charged-off loans 46 4 — 2 52 Provision (releases) for loan losses 479 (80 ) 150 107 656 Balance at end of period $ 6,367 $ 2,509 $ 3,454 $ 393 $ 12,723 Individually evaluated for impairment 682 34 80 — 796 Collectively evaluated 5,685 2,475 3,374 393 11,927 Total $ 6,367 $ 2,509 $ 3,454 $ 393 $ 12,723 Business Activities Loans At or for the Six Months Ended June 30, 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 (156 ) (111 ) — (386 ) (653 ) Recoveries on charged-off loans 61 6 1 4 72 Provision for loan losses 425 241 96 389 1,151 Balance at end of period $ 6,367 $ 2,509 $ 3,454 $ 393 $ 12,723 Individually evaluated for impairment 682 34 80 — 796 Collectively evaluated 5,685 2,475 3,374 393 11,927 Total $ 6,367 $ 2,509 $ 3,454 $ 393 $ 12,723 Acquired Loans At or for the Three Months Ended June 30, 2018 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 83 $ 124 $ 58 $ — $ 265 Charged-off loans — (37 ) (64 ) (17 ) (118 ) Recoveries on charged-off loans 18 6 — 82 106 Provision (releases) for loan losses 99 (11 ) 91 (65 ) 114 Balance at end of period $ 200 $ 82 $ 85 $ — $ 367 Individually evaluated for impairment — 77 — — 77 Collectively evaluated 200 5 85 — 290 Total $ 200 $ 82 $ 85 $ — $ 367 Acquired Loans At or for the Six Months Ended June 30, 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 ) (95 ) (64 ) (60 ) (325 ) Recoveries on charged-off loans 18 6 — 82 106 Provision (releases) for loan losses 191 155 90 (22 ) 414 Balance at end of period $ 200 $ 82 $ 85 $ — $ 367 Individually evaluated for impairment — 77 — — 77 Collectively evaluated 200 5 85 — 290 Total $ 200 $ 82 $ 85 $ — $ 367 Loan Origination/Risk Management: The Company has certain lending policies and procedures in place designed to maximize loan income within an acceptable level of risk. The Company’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 Company's Board of Directors with frequent reports related to loan production, loan quality, concentration of credit, loan delinquencies, non-performing loans and potential problem loans. The Company 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 Company 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 Company’s credit quality indicators: Pass: Loans the Company considers in the 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 the Company considers having some potential weaknesses, but are deemed to not carry levels of risk inherent in one of the subsequent categories, 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 may require a higher level of supervision or internal reporting because of: (i) declining industry trends; (ii) increasing reliance on secondary sources of repayment; (iii) the poor condition of or lack of control over collateral; or (iv) 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 Company to sufficient risks to warrant classification. Substandard: Loans the Company considers as substandard are 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 Company considers as doubtful have all of the weaknesses inherent in those loans that are classified as substandard. These loans have the added characteristic of a well-defined weakness which is inadequately protected by the current sound worth and paying capacity of borrower or of the collateral pledged, if any, and calls into question the collectability of the full balance of the loan. 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 Company considers 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 June 30, 2019 and December 31, 2018 : 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) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Grade: Pass $ 33,450 $ 23,680 $ 589,926 $ 532,386 $ 623,376 $ 556,066 Special mention 73 73 11,959 8,319 12,032 8,392 Substandard — — 12,337 13,914 12,337 13,914 Doubtful 1 1 1,521 1,361 1,522 1,362 Total $ 33,524 $ 23,754 $ 615,743 $ 555,980 $ 649,267 $ 579,734 Commercial and Industrial Credit Risk Profile by Creditworthiness Category Commercial Agricultural Tax exempt loans Total commercial and industrial (in thousands) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Grade: Pass $ 225,251 $ 226,353 $ 20,905 $ 21,680 $ 67,374 $ 56,588 $ 313,530 $ 304,621 Special mention 13,512 6,730 358 215 — — 13,870 6,945 Substandard 5,037 924 384 422 — — 5,421 1,346 Doubtful 715 750 — — — — 715 750 Total $ 244,515 $ 234,757 $ 21,647 $ 22,317 $ 67,374 $ 56,588 $ 333,536 $ 313,662 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) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Performing $ 727,420 $ 665,976 $ 59,738 $ 57,652 $ 10,596 $ 9,324 $ 797,754 $ 732,952 Nonperforming 4,023 4,213 585 246 82 90 4,690 4,549 Total $ 731,443 $ 670,189 $ 60,323 $ 57,898 $ 10,678 $ 9,414 $ 802,444 $ 737,501 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) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Grade: Pass $ 2,579 $ 2,626 $ 220,959 $ 236,393 $ 223,538 $ 239,019 Special mention — — 1,964 1,574 1,964 1,574 Substandard 279 264 6,263 6,009 6,542 6,273 Doubtful — — 168 99 168 99 Total $ 2,858 $ 2,890 $ 229,354 $ 244,075 $ 232,212 $ 246,965 Commercial and Industrial Credit Risk Profile by Creditworthiness Category Commercial Agricultural Tax exempt loans Total commercial and industrial (in thousands) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Grade: Pass $ 38,554 $ 46,120 $ — $ — $ 37,322 $ 38,738 $ 75,876 $ 84,858 Special mention 5,819 4,825 — — — — 5,819 4,825 Substandard 1,153 1,222 — — — — 1,153 1,222 Doubtful 341 303 — — — — 341 303 Total $ 45,867 $ 52,470 $ — $ — $ 37,322 $ 38,738 $ 83,189 $ 91,208 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) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Performing $ 433,244 $ 470,497 $ 39,941 $ 45,090 $ 1,139 $ 1,356 $ 474,324 $ 516,943 Nonperforming 3,072 4,012 194 201 — 1 3,266 4,214 Total $ 436,316 $ 474,509 $ 40,135 $ 45,291 $ 1,139 $ 1,357 $ 477,590 $ 521,157 The following table summarizes total classified and criticized loans as of June 30, 2019 and December 31, 2018 : June 30, 2019 December 31, 2018 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Non-accrual $ 12,886 $ 3,069 $ 15,955 $ 14,111 $ 4,124 $ 18,235 Substandard accruing 11,799 8,401 20,200 7,810 7,987 15,797 Doubtful accruing — — — — — — Total classified 24,685 11,470 36,155 21,921 12,111 34,032 Special mention 25,902 7,783 33,685 15,337 6,399 21,736 Total Criticized $ 50,587 $ 19,253 $ 69,840 $ 37,258 $ 18,510 $ 55,768 |
BORROWED FUNDS
BORROWED FUNDS | 6 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
BORROWED FUNDS | BORROWED FUNDS Borrowed funds at June 30, 2019 and December 31, 2018 are summarized, as follows: June 30, 2019 December 31, 2018 (dollars in thousands) Carrying Value Weighted Average Rate Carrying Value Weighted Average Rate Short-term borrowings Advances from the FHLB $ 549,168 2.42 % $ 611,683 2.47 % Other borrowings 36,940 1.48 36,211 1.09 Total short-term borrowings 586,108 2.37 647,894 2.39 Long-term borrowings Advances from the FHLB 146,976 2.32 32,929 1.86 Subordinated borrowings 37,943 5.84 37,973 5.58 Junior subordinated borrowings 5,000 5.99 5,000 5.96 Total long-term borrowings 189,919 3.12 75,902 3.99 Total $ 776,027 2.55 % $ 723,796 2.56 % Short-term debt includes Federal Home Loan Bank of Boston (“FHLB”) advances with a maturity of less than one year. The Company 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 June 30, 2019 and December 31, 2018 . The Company has the 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 June 30, 2019 , the Company’s available secured line of credit at the FRB was $112.9 million . The Company has pledged certain loans and securities to the FRB to support this arrangement. There were no borrowings with the FRB for the periods ended June 30, 2019 and December 31, 2018 . The Company maintains, with a correspondent bank, an unused unsecured federal funds line of credit that has an aggregate overnight borrowing capacity of $50 million as of June 30, 2019 and December 31, 2018 . There was no outstanding balance on the line of credit as of June 30, 2019 and December 31, 2018 . Long-term FHLB advances consist of advances with a maturity of more than one year. The advances outstanding at June 30, 2019 and December 31, 2018 include no callable advances and $330 thousand of 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 June 30, 2019 is, as follows: June 30, 2019 (in thousands, except rates) Carrying Value Weighted Average Rate Fixed rate advances maturing: 2019 $ 524,195 2.46 % 2020 54,973 2.12 2021 1,655 1.90 2022 114,000 2.31 2023 1,000 — 2024 and thereafter 321 2.52 Total FHLB advances $ 696,144 2.40 % In April 2008, the Company 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 June 30, 2019 and December 31, 2018 the interest rate was 5.86% and 6.24% , 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 | 6 Months Ended |
Jun. 30, 2019 | |
Deposits [Abstract] | |
DEPOSITS | DEPOSITS A summary of time deposits is, as follows: (in thousands) June 30, 2019 December 31, 2018 Time less than $100,000 $ 694,523 $ 622,478 Time $100,000 through $250,000 166,211 193,535 Time $250,000 or more 135,778 116,780 Total time deposits $ 996,512 $ 932,793 At June 30, 2019 and December 31, 2018 , the scheduled maturities by year for time deposits are, as follows: (in thousands) June 30, 2019 December 31, 2018 Within 1 year $ 557,749 $ 505,313 Over 1 year to 2 years 332,976 258,176 Over 2 years to 3 years 62,246 123,337 Over 3 years to 4 years 20,508 14,494 Over 4 years to 5 years 22,773 31,353 Over 5 years 260 120 Total $ 996,512 $ 932,793 Included in time deposits are brokered deposits of $599.0 million and $466.9 million at June 30, 2019 and December 31, 2018 , respectively. Also included in time deposits are reciprocal deposits of $56.3 million and $52.4 million at June 30, 2019 and December 31, 2018 , respectively. |
CAPITAL RATIOS AND SHAREHOLDERS
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY | 6 Months Ended |
Jun. 30, 2019 | |
Stockholders' Equity Note [Abstract] | |
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY | CAPITAL RATIOS AND SHAREHOLDERS’ EQUITY The actual and required capital ratios are, as follows: June 30, 2019 Regulatory Minimum to be "Well Capitalized" December 31, 2018 Regulatory Minimum to be "Well Capitalized" Company (consolidated) Total capital to risk-weighted assets 13.93 % N/A 14.23 % N/A Common equity tier 1 capital to risk-weighted assets 11.57 N/A 11.80 N/A Tier 1 capital to risk-weighted assets 12.42 N/A 12.68 N/A Tier 1 capital to average assets 8.57 N/A 8.53 N/A Bank Total capital to risk-weighted assets 13.42 % 10.00 % 13.82 % 10.00 % Common equity tier 1 capital to risk-weighted assets 12.60 6.50 12.99 6.50 Tier 1 capital to risk-weighted assets 12.60 8.00 12.99 8.00 Tier 1 capital to average assets 8.69 5.00 8.74 5.00 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. The Company and the Bank are 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." Effective January 1, 2019 all banking organizations 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 final capital rules impose restrictions on capital distributions and certain discretionary cash bonus payments if the minimum capital conservation buffer is not met. At June 30, 2019 , 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. Accumulated other comprehensive income (loss) Components of accumulated other comprehensive income (loss) is, as follows: (in thousands) June 30, 2019 December 31, 2018 Other accumulated comprehensive income (loss), before tax: Net unrealized gain (loss) on AFS securities $ 7,242 $ (11,304 ) Net unrealized loss on effective cash flow hedging derivatives (4,936 ) (2,934 ) Net unrealized loss on post-retirement plans (1,162 ) (1,162 ) Income taxes related to items of accumulated other comprehensive (income) loss: Net unrealized (gain) loss on AFS securities (1,693 ) 2,641 Net unrealized loss on effective cash flow hedging derivatives 1,154 685 Net unrealized loss on post-retirement plans 272 272 Accumulated other comprehensive income (loss) $ 877 $ (11,802 ) The following table presents the components of other comprehensive income (loss) for the three and six months ended June 30, 2019 and 2018 : (in thousands) Before Tax Tax Effect Net of Tax Three Months Ended June 30, 2019 Net unrealized gain on AFS securities: Net unrealized gain arising during the period $ 9,646 $ (2,255 ) $ 7,391 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on AFS securities 9,646 (2,255 ) 7,391 Net unrealized loss on cash flow hedging derivatives: Net unrealized loss arising during the period (1,157 ) 271 (886 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on cash flow hedging derivatives (1,157 ) 271 (886 ) Net unrealized gain on post-retirement plans: Net unrealized gain arising during the period — — — Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on post-retirement plans — — — Other comprehensive income $ 8,489 $ (1,984 ) $ 6,505 Three Months Ended June 30, 2018 Net unrealized loss on AFS securities: Net unrealized loss arising during the period $ (3,087 ) $ 731 $ (2,356 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on AFS securities (3,087 ) 731 (2,356 ) Net unrealized gain on cash flow hedging derivatives: Net unrealized gain arising during the period 226 (54 ) 172 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on cash flow hedging derivatives 226 (54 ) 172 Net unrealized gain on post-retirement plans: Net unrealized gain arising during the period — — — Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on post-retirement plans — — — Other comprehensive loss $ (2,861 ) $ 677 $ (2,184 ) (in thousands) Before Tax Tax Effect Net of Tax Six Months Ended June 30, 2019 Net unrealized gain on AFS securities: Net unrealized gain arising during the period $ 18,546 $ (4,334 ) $ 14,212 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on AFS securities 18,546 (4,334 ) 14,212 Net unrealized loss on derivative hedges: Net unrealized loss arising during the period (2,002 ) 469 (1,533 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on derivative hedges (2,002 ) 469 (1,533 ) Net unrealized gain on post-retirement plans: Net unrealized gain arising during the period — — — Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on post-retirement plans — — — Other comprehensive income $ 16,544 $ (3,865 ) $ 12,679 Six Months Ended June 30, 2018 Net unrealized loss on AFS securities: Net unrealized loss arising during the period $ (13,789 ) $ 3,274 $ (10,515 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on AFS securities (13,789 ) 3,274 (10,515 ) Net unrealized gain on cash flow hedging derivatives: Net unrealized gain arising during the period 880 (209 ) 671 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on cash flow hedging derivatives 880 (209 ) 671 Net unrealized gain on post-retirement plans: Net unrealized gain arising during the period 41 (10 ) 31 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on post-retirement plans 41 (10 ) 31 Other comprehensive loss $ (12,868 ) $ 3,055 $ (9,813 ) The following table presents the changes in each component of accumulated other comprehensive income (loss), for the three and six months ended June 30, 2019 and 2018 : (in thousands) Net unrealized (loss) gain on AFS Securities Net loss on effective cash flow hedging derivatives Net unrealized loss on pension plans Total Three Months Ended June 30, 2019 Balance at beginning of period $ (1,844 ) $ (2,896 ) $ (888 ) $ (5,628 ) Other comprehensive gain (loss) before reclassifications 7,391 (886 ) — 6,505 Less: amounts reclassified from accumulated other comprehensive income — — — — Total other comprehensive income (loss) 7,391 (886 ) — 6,505 Balance at end of period $ 5,547 $ (3,782 ) $ (888 ) $ 877 Three Months Ended June 30, 2018 Balance at beginning of period $ (10,239 ) $ (2,236 ) $ (688 ) $ (13,163 ) Other comprehensive (loss) gain before reclassifications (2,356 ) 172 — (2,184 ) Less: amounts reclassified from accumulated other comprehensive income — — — — Total other comprehensive (loss) income (2,356 ) 172 — (2,184 ) Balance at end of period $ (12,595 ) $ (2,064 ) $ (688 ) $ (15,347 ) Six Months Ended June 30, 2019 Balance at beginning of period $ (8,665 ) $ (2,249 ) $ (888 ) $ (11,802 ) Other comprehensive gain (loss) before reclassifications 14,212 (1,533 ) — 12,679 Less: amounts reclassified from accumulated other comprehensive income — — — — Total other comprehensive income (loss) 14,212 (1,533 ) — 12,679 Balance at end of period $ 5,547 $ (3,782 ) $ (888 ) $ 877 Six Months Ended June 30, 2018 Balance at beginning of period $ (1,713 ) $ (2,250 ) $ (591 ) $ (4,554 ) Other comprehensive (loss) gain before reclassifications (10,515 ) 671 31 (9,813 ) Less: amounts reclassified from accumulated other comprehensive income — — — — Total other comprehensive (loss) income (10,515 ) 671 31 (9,813 ) Less: amounts reclassified from accumulated other comprehensive income for ASU 2018-02 (367 ) (485 ) (128 ) (980 ) Balance at end of period $ (12,595 ) $ (2,064 ) $ (688 ) $ (15,347 ) The Company did not have any reclassifications from any component of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2019 and 2018. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | EARNINGS PER SHARE The following table presents the calculation of earnings per share: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share and share data) 2019 2018 2019 2018 Net income $ 6,117 $ 8,535 $ 13,398 $ 16,347 Average number of basic common shares outstanding 15,538,282 15,482,188 15,530,893 15,465,357 Plus: dilutive effect of stock options and awards outstanding (1) 47,299 89,263 51,340 94,614 Average number of diluted common shares outstanding (1) 15,585,581 15,571,451 15,582,233 15,559,971 Anti-dilutive options excluded from earnings calculation — 3,173 — 19,488 Earnings per share: Basic $ 0.39 $ 0.55 $ 0.86 $ 1.06 Diluted $ 0.39 $ 0.55 $ 0.86 $ 1.05 _____________________________________ (1) Average diluted shares outstanding are computed using the treasury stock method. |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES | 6 Months Ended |
Jun. 30, 2019 | |
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 Company periodically uses derivative instruments to minimize significant unplanned fluctuations in earnings and cash flows caused by interest rate volatility. The Company’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 Company designates whether the derivative is part of a hedging relationship (i.e., cash flow or fair value hedge). The Company formally documents relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking hedge transactions. The Company 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. The Company 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. The following tables present information about derivative assets and liabilities at June 30, 2019 and December 31, 2018 : June 30, 2019 Notional Amount Weighted Average Maturity Estimated Fair Value Asset (Liability) (in thousands) (in years) (in thousands) Cash flow hedges: Interest rate cap agreements $ 90,000 3.6 $ 174 Interest rate swap on deposits 50,000 4.8 (1,710 ) Total cash flow hedges 140,000 (1,536 ) Economic hedges: Forward sale commitments 3,561 0.1 (30 ) Total economic hedges 3,561 (30 ) Non-hedging derivatives: Interest rate lock commitments 8,082 0.1 71 Customer loan derivative liability 130,245 9.2 (6,887 ) Customer loan derivative asset 130,245 9.2 6,887 Total non-hedging derivatives 268,572 71 Total $ 412,133 $ (1,495 ) December 31, 2018 Notional Amount Weighted Average Maturity Estimated Fair Value Asset (Liability) (in thousands) (in years) (in thousands) Cash flow hedges: Interest rate cap agreements $ 90,000 4.1 $ 803 Total cash flow hedges 90,000 803 Non-hedging derivatives: Interest rate lock commitments 957 0.1 8 Customer loan derivative liability 45,641 9.9 (1,353 ) Customer loan derivative asset 45,641 9.9 1,353 Total non-hedging derivatives 92,239 8 Total $ 182,239 $ 811 Information about derivative assets and liabilities for the three and six months ended June 30, 2019 and 2018 is, as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Cash flow hedges: Interest rate cap agreements Realized gain (loss) in interest expense $ (174 ) $ (122 ) $ (337 ) $ (230 ) Economic hedges: Forward commitments Realized (loss) gain in other non-interest income 35 (23 ) (30 ) 147 Non-hedging derivatives: Interest rate lock commitments Realized gain in other non-interest income 57 1 63 9 Cash flow hedges Interest rate cap agreements In 2014, interest rate cap agreements were purchased to limit the Company’s exposure to rising interest rates on four rolling, three-month borrowings indexed to three-month LIBOR. Under the terms of the agreements, the Company paid total premiums of $4.6 million for the right to receive cash flow payments if three-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. Interest rate swap on deposits In March 2019, the Company entered into an interest rate swap on brokered deposits (the "SWAP") to limit its exposure to rising interest rates over a five year term. Under the terms of the agreement, the Company pays a fixed rate of 2.461% for a notional amount of $50.0 million , and the financial institution counterparty pays interest on the three-month LIBOR rate. The Company designated the SWAP as a cash flow hedge and the fair value is included in other liabilities 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. 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 Interest rate lock commitments 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 residential mortgage loans held for sale are considered as derivative financial instruments under applicable accounting guidance. Outstanding IRLCs expose the Company to the risk that the market 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. Customer loan derivatives The Company enters into customer loan derivatives to facilitate the risk management strategies for commercial banking customers. The Company mitigates this risk by entering into equal and offsetting loan swap agreements with highly rated third-party financial institutions. The loan swap agreements are free-standing derivatives and are recorded at fair value in the Company's consolidated balance sheet. The Company is party to master netting arrangements with its financial institutional counterparties; however, the Company does not offset assets and liabilities under these arrangements for financial statement presentation purposes. The master netting arrangements provide for a single net settlement of all loan swap agreements, as well as collateral or cash funds, in the event of default on, or termination of, any one contract. Collateral is provided by cash or securities received or posted by the counterparty with net liability positions, respectively, in accordance with contract thresholds. Currently, the Company has posted cash of $5.7 million with the counterparty. |
LEASES
LEASES | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
LEASES | LEASES A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. On January 1, 2019, the Company adopted ASU No. 2016-02 “Leases” and all subsequent ASUs modifying ASC 842. For the Company, ASC 842 primarily affects the accounting treatment for operating lease agreements where the Company is the lessee. Lessee Accounting Substantially all of the leases pursuant to which the Company is the lessee are comprised of real estate property for branches, ATM locations, and office space with terms extending through 2040. All leases are classified as operating leases, and therefore, were previously not recognized on the Company’s consolidated balance sheets. With the adoption of ASC 842, operating lease agreements are required to be recognized on the consolidated balance sheets as a right-of-use (“ROU”) asset with a corresponding lease liability using the modified retrospective approach. The total of ROU assets and lease liabilities were $9.0 million as of January 1, 2019. The Company has elected the following practical expedients in conjunction with implementation of ASC 842 as follows: • Package of practical expedients: ◦ Lease classification as an operating lease under the prior standards is grandfathered. ◦ Re-evaluation of embedded leases evaluated under the prior standards is not required. ◦ No re-assessment of previously recorded initial direct lease costs. • Election to exclude short-term leases (i.e., leases with initial terms of twelve months or less), from capitalization on the consolidated balance sheets. The following table presents the consolidated statements of condition classification of the Company’s ROU assets and lease liabilities as of June 30, 2019 : (in thousands) June 30, 2019 Lease Right-of-Use Assets Classification Operating lease right-of-use assets Other assets $ 8,629 Lease Liabilities Operating lease liabilities Other liabilities 8,681 The calculated amount of the ROU assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rate used for the present value of the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Regarding the discount rate, ASC 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. For operating leases existing prior to January 1, 2019, the rate for the original lease term as of January 1, 2019 was used. June 30, 2019 Weighted-average remaining lease term Operating leases 10 years Weighted-average discount rate Operating leases 3.37 % The following table represents lease costs and other lease information. As the Company elected, for all classes of underlying assets, not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as real estate taxes, common area maintenance and utilities. (in thousands) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Lease Costs Operating lease cost $ 233 $ 464 Variable lease cost 84 208 Total lease cost $ 317 $ 672 Future minimum payments for operating leases with initial or remaining terms of one year or more as of June 30, 2019 are, as follows: (in thousands) Operating Leases Twelve Months Ended: June 30, 2020 $ 917 June 30, 2021 898 June 30, 2022 908 June 30, 2023 910 June 30, 2024 913 Thereafter 6,296 Total future minimum lease payments 10,842 Amounts representing interest (2,161 ) Present value of net future minimum lease payments $ 8,681 |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 and December 31, 2018 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: June 30, 2019 (in thousands) Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value Available for sale securities: Mortgage-backed securities: US Government-sponsored enterprises $ — $ 403,528 $ — $ 403,528 US Government agency — 119,985 — 119,985 Private label — 20,161 — 20,161 Obligations of states and political subdivisions thereof — 127,078 — 127,078 Corporate bonds — 77,808 — 77,808 Derivative assets — 7,061 71 7,132 Derivative liabilities — (8,597 ) (30 ) (8,627 ) December 31, 2018 (in thousands) Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value Available for sale securities: Mortgage-backed securities: US Government-sponsored enterprises $ — $ 404,952 $ — $ 404,952 US Government agency — 110,512 — 110,512 Private label — 20,382 — 20,382 Obligations of states and political subdivisions thereof — 132,265 — 132,265 Corporate bonds — 57,726 — 57,726 Derivative assets — 2,156 8 2,164 Derivative liabilities — (1,353 ) — (1,353 ) 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 that 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 Cash Flow Hedges. The valuation of the Company's cash flow hedges are obtained from a third party. The pricing analysis is based on observable inputs for the contractual terms of the derivatives, including the period to maturity and interest rate curves. The inputs used to value the Company's cash flow hedges are all classified as Level 2 measurements. 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 Company’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. Customer Loan Derivatives. The valuation of the Company’s customer loan derivatives is obtained from a third-party pricing service and is determined using a discounted cash flow analysis on the expected cash flows of each derivative. The pricing analysis is based on observable inputs for the contractual terms of the derivatives, including the period to maturity and interest rate curves. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of master netting arrangements and any applicable credit enhancements, such as collateral postings. Although the Company has determined that the majority of the inputs used to value its customer loan derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of June 30, 2019 , the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. 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 and six months ended June 30, 2019 : Assets (Liabilities) (in thousands) Interest Rate Lock Commitments Forward Commitments Three Months Ended June 30, 2019 Balance at beginning of period $ 14 $ (65 ) Realized gain recognized in non-interest income 57 35 June 30, 2019 Balance $ 71 $ (30 ) Six Months Ended June 30, 2019 Balance at beginning of period $ 8 $ — Realized gain (loss) recognized in non-interest income 63 (30 ) June 30, 2019 Balance $ 71 $ (30 ) 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 Unobservable Input Value Assets (Liabilities) Interest Rate Lock Commitment $ 71 Historical trend Closing Ratio 90 % Pricing Model Origination Costs, per loan $ 1.7 Forward Commitments (30 ) Quoted prices for similar loans in active markets. Freddie Mac pricing system Pair-off contract price Total $ 41 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: June 30, 2019 December 31, 2018 Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Fair Value Measurement Date as of June 30, 2019 (in thousands) Level 3 Inputs Level 3 Total Gains (Losses) Total Gains (Losses) Level 3 Inputs Assets Impaired loans $ 14,200 $ 15,213 $ 395 $ 1,013 June 2019 Capitalized servicing rights 4,261 4,882 — — June 2019 Other real estate owned 2,351 2,351 — — June 2018 Total $ 20,812 $ 22,446 $ 395 $ 1,013 There are no liabilities measured at fair value on a non-recurring basis. Quantitative information about the significant unobservable inputs within Level 3 non-recurring assets is, as follows: Fair Value Range (in thousands, except ratios) June 30, 2019 Valuation Techniques Unobservable Inputs (Weighted Average) (a) Assets Impaired loans $ 10,818 Fair value of collateral -appraised value Loss severity 0% to 65% Appraised value $0 to $6,915 Impaired loans 3,382 Discount cash flow Discount rate 2.88% to 7.50% Cash flows $22 to $1,071 Capitalized servicing rights 4,261 Discounted cash flow Constant prepayment rate (CPR) 9.64 % Discount rate 10.08 % Other real estate owned 2,351 Fair value of collateral less selling costs Appraised value $2,700 Selling Costs 12.93 % Total $ 20,812 (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, 2018 Valuation Techniques Unobservable Inputs (Weighted Average) (a) Assets Impaired loans $ 11,676 Fair value of collateral -appraised value Loss severity 0% to 55.00% Appraised value $0 to $6,915 Impaired loans 3,537 Discount cash flow Discount rate 2.88% to 9.50% Cash flows $22 to $1,072 Capitalized servicing rights 4,882 Discounted cash flow Constant prepayment rate (CPR) 8.19 % Discount rate 10.08 % Other real estate owned 2,351 Fair value of collateral less selling costs Appraised value $2,700 Selling Costs 12.93 % Total $ 22,446 (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 June 30, 2019 and December 31, 2018 . 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 loan 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 Company. 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 are included in the table below. 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. June 30, 2019 (in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 59,860 $ 59,860 $ 59,860 $ — $ — Securities available for sale 748,560 748,560 — 748,560 — FHLB stock 35,220 35,220 — 35,220 — Net loans 2,563,666 2,552,387 — — 2,552,387 Accrued interest receivable 3,586 3,586 — 3,586 — Cash surrender value of bank-owned life insurance policies 74,871 74,871 — 74,871 — Derivative assets 7,132 7,132 — 7,061 71 Financial Liabilities Total deposits $ 2,481,376 $ 2,457,385 $ — $ 2,457,385 $ — Securities sold under agreements to repurchase 36,940 36,939 — 36,939 — FHLB advances 696,144 696,273 — 696,273 — Subordinated borrowings 37,943 37,943 — 37,943 — Junior subordinated borrowings 5,000 4,537 — 4,537 — Derivative liabilities (8,627 ) (8,627 ) — (8,597 ) (30 ) December 31, 2018 (in thousands) Carrying Fair Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 98,754 $ 98,754 $ 98,754 $ — $ — Securities available for sale 725,837 725,837 — 725,837 — FHLB stock 35,659 35,659 — 35,659 — Net loans 2,476,361 2,415,863 — — 2,415,863 Accrued interest receivable 3,533 3,533 — 3,533 — Cash surrender value of bank-owned life insurance policies 73,810 73,810 — 73,810 — Derivative assets 2,164 2,164 — 2,156 8 Financial Liabilities Total deposits $ 2,483,238 $ 2,404,250 $ — $ 2,404,250 $ — Securities sold under agreements to repurchase 36,211 36,171 — 36,171 — FHLB advances 644,611 643,065 — 643,065 — Subordinated borrowings 37,973 37,973 — 37,973 — Junior subordinated borrowings 5,000 3,923 — 3,923 — Derivative liabilities (1,353 ) (1,353 ) — — (1,353 ) 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 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. The fair value of loans are 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, loss given defaults, and estimates of prevailing discount rates. 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 including standby letters of credit and other financial guarantees and commitments are considered immaterial to the Company’s financial statements. |
NON-INTEREST INCOME
NON-INTEREST INCOME | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
NON-INTEREST INCOME | NON-INTEREST INCOME The Company has accounted for the various non-interest revenue streams and related contracts under ASC 606. Disaggregation of Revenue The following tables present disaggregation of the Company’s non-interest revenue by major business line and timing of revenue recognition for the transfer of products or services: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Major Products/Service Lines Trust management fees $ 2,794 $ 2,807 $ 5,319 $ 5,547 Financial services fees 272 315 505 536 Interchange fees 1,213 1,107 2,244 2,131 Customer deposit fees 1,026 1,019 1,933 1,998 Other customer service fees 379 221 605 443 Total $ 5,684 $ 5,469 $ 10,606 $ 10,655 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Timing of Revenue Recognition Products and services transferred at a point in time $ 2,767 $ 2,643 $ 5,034 $ 4,994 Products and services transferred over time 2,917 2,826 5,572 5,661 Total $ 5,684 $ 5,469 $ 10,606 $ 10,655 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. Contract Balances from Contracts with Customers The following table provides information about contract assets or receivables and contract liabilities or deferred revenues from contracts with customers: (in thousands) Balance at June 30, 2019 Balance at December 31, 2018 Balances from contracts with customers only: Other Assets $ 1,859 $ 2,866 Other Liabilities 4,732 4,923 The timing of revenue recognition, billings and cash collections results in contract assets or receivables and contract liabilities or deferred revenue 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. The Company has elected the practical expedient in ASC 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. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On July 8, 2019, the Company entered into a definitive agreement to acquire eight branches located in central Maine with approximately $287 million of deposits, $111 million of loans and $284 million of assets under management (as of March 31, 2019) from People’s United Bank, National Association. The eight branches are expected to increase the Company's branch count to 56 in its footprint and 22 banking offices in the state of Maine. At closing, the Company expects to pay a 6.3% premium on average total deposits plus a premium of 1.2 times annualized wealth management revenue and approximately $4.4 million for the premises. |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
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, 2018 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. |
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 2019 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 is required to be adopted on a modified retrospective basis and allows for practical expedients and elections in conjunction with implementation. The Company may elect some of the expedients upon the adoption date, which may be applied prospectively or retrospectively. January 1, 2019 The Company adopted this ASU as of January 1, 2019 including the election of the practical expedients, allowing for existing leases to be accounted for consistent with current guidance, with the exception of balance sheet recognition for lessees. A modified retrospective transition approach was utilized, applying the new standard to all leases existing at the date of initial application. At January 1, 2019 the Company recognized a right-of-use asset and corresponding lease liability of $9.0 million. This computation is based, primarily, on the present value of unpaid future minimum lease payments. Additionally, that amount is impacted by assumptions around renewals and/or extensions, and the interest rate used to discount those future lease obligations. Due to the limited size of the Company's leasing portfolio, many other items related to this standard don't apply, or had an immaterial impact on the Company's consolidated financial statements. For transitional disclosures see Note 12 - Leases. ASU 2018-11 Practical Expedients to Topic 842, Leases ASU 2018-20 Scope Improvements for Lessors ASU 2019-01 Leases: Codification Improvements ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities This ASU amends Accounting Standards Codification ("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 The Company adopted this ASU as of January 1, 2019, although it did not have a material impact on the Company's consolidated financial statements. ASU 2018-16, Inclusion of Overnight Financing Rate or Overnight Swap Rate as a Benchmark for Hedge Accounting ASU 2018-07, Share Based Payment Accounting This ASU expands the scope of Topic 718, Compensation- Stock Compensation to include share-based payments issued to non-employees for goods or services. Consequently, the accounting for share-based payments to non-employees and employees will be substantially aligned. The ASU supersedes Subtopic 505-50, Equity-Based Payments to non-employees. January 1, 2019 The Company adopted this ASU as of January 1, 2019, with no material impact on the Company's consolidated financial statements. Standard Description Required Date of Adoption Effect on financial statements Standards Not Yet Adopted 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 certain off-balance sheet exposures. 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 on loans with the application of the expected credit loss model. Also, for acquired purchased impaired loans it requires the reclassification of the credit portion of the total remaining fair value adjustment directly to the allowance for loan losses. Fair value adjustments on purchased credit impaired loans related to interest rates and fair value adjustments on other acquired loans will continue to be accreted into income over time. ASU 2018-19, Codification Improvements to ASU 2016-13 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 and may allow for recovery of these amounts in the future. 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 available for sale securities with unrealized losses, rather than reduce the amortized cost of the securities by direct write-offs. The guidances will require companies to recognize improvements to estimated credit losses immediately in earning rather than interest income over time. The Company is in the process of evaluating and implementing allowance loan loss estimation models to comply with the guidance under this ASU, which may result in a higher allowance for losses then currently recorded under the existing standard. 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. Early adoption is permitted in 2019 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 2018-13 Changes to Disclosure Requirements Fair Value Measurement, Topic 820 This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. January 1, 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 2018-14 Compensation- Disclosure Requirements for Defined Pension Plans Topic 715-20 This ASU makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other post-retirement benefit plans. January 1, 2021 Adoption of this ASU is not expected to have a material impact on the Company's consolidated financial statements. Early adoption is permitted. |
Adoption of ASC 606, Revenue from Contracts with Customers | 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. The timing of revenue recognition, billings and cash collections results in contract assets or receivables and contract liabilities or deferred revenue 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. The Company has elected the practical expedient in ASC 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. The Company has accounted for the various non-interest revenue streams and related contracts under ASC 606. |
Reclassification, Policy [Policy Text Block] | 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. |
BASIS OF PRESENTATION (Tables)
BASIS OF PRESENTATION (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 2019 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 is required to be adopted on a modified retrospective basis and allows for practical expedients and elections in conjunction with implementation. The Company may elect some of the expedients upon the adoption date, which may be applied prospectively or retrospectively. January 1, 2019 The Company adopted this ASU as of January 1, 2019 including the election of the practical expedients, allowing for existing leases to be accounted for consistent with current guidance, with the exception of balance sheet recognition for lessees. A modified retrospective transition approach was utilized, applying the new standard to all leases existing at the date of initial application. At January 1, 2019 the Company recognized a right-of-use asset and corresponding lease liability of $9.0 million. This computation is based, primarily, on the present value of unpaid future minimum lease payments. Additionally, that amount is impacted by assumptions around renewals and/or extensions, and the interest rate used to discount those future lease obligations. Due to the limited size of the Company's leasing portfolio, many other items related to this standard don't apply, or had an immaterial impact on the Company's consolidated financial statements. For transitional disclosures see Note 12 - Leases. ASU 2018-11 Practical Expedients to Topic 842, Leases ASU 2018-20 Scope Improvements for Lessors ASU 2019-01 Leases: Codification Improvements ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities This ASU amends Accounting Standards Codification ("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 The Company adopted this ASU as of January 1, 2019, although it did not have a material impact on the Company's consolidated financial statements. ASU 2018-16, Inclusion of Overnight Financing Rate or Overnight Swap Rate as a Benchmark for Hedge Accounting ASU 2018-07, Share Based Payment Accounting This ASU expands the scope of Topic 718, Compensation- Stock Compensation to include share-based payments issued to non-employees for goods or services. Consequently, the accounting for share-based payments to non-employees and employees will be substantially aligned. The ASU supersedes Subtopic 505-50, Equity-Based Payments to non-employees. January 1, 2019 The Company adopted this ASU as of January 1, 2019, with no material impact on the Company's consolidated financial statements. Standard Description Required Date of Adoption Effect on financial statements Standards Not Yet Adopted 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 certain off-balance sheet exposures. 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 on loans with the application of the expected credit loss model. Also, for acquired purchased impaired loans it requires the reclassification of the credit portion of the total remaining fair value adjustment directly to the allowance for loan losses. Fair value adjustments on purchased credit impaired loans related to interest rates and fair value adjustments on other acquired loans will continue to be accreted into income over time. ASU 2018-19, Codification Improvements to ASU 2016-13 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 and may allow for recovery of these amounts in the future. 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 available for sale securities with unrealized losses, rather than reduce the amortized cost of the securities by direct write-offs. The guidances will require companies to recognize improvements to estimated credit losses immediately in earning rather than interest income over time. The Company is in the process of evaluating and implementing allowance loan loss estimation models to comply with the guidance under this ASU, which may result in a higher allowance for losses then currently recorded under the existing standard. 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. Early adoption is permitted in 2019 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 2018-13 Changes to Disclosure Requirements Fair Value Measurement, Topic 820 This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. January 1, 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 2018-14 Compensation- Disclosure Requirements for Defined Pension Plans Topic 715-20 This ASU makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other post-retirement benefit plans. January 1, 2021 Adoption of this ASU is not expected to have a material impact on the Company's consolidated financial statements. Early adoption is permitted. |
SECURITIES AVAILABLE FOR SALE (
SECURITIES AVAILABLE FOR SALE (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 Debt securities: Mortgage-backed securities: US Government-sponsored enterprises $ 401,311 $ 4,795 $ 2,578 $ 403,528 US Government agency 118,583 1,785 383 119,985 Private label 20,306 80 225 20,161 Obligations of states and political subdivisions thereof 124,254 3,130 306 127,078 Corporate bonds 76,864 1,200 256 77,808 Total securities available for sale $ 741,318 $ 10,990 $ 3,748 $ 748,560 December 31, 2018 Debt securities: Mortgage-backed securities: US Government-sponsored enterprises $ 413,492 $ 904 $ 9,444 $ 404,952 US Government agency 111,938 509 1,935 110,512 Private label 20,353 113 84 20,382 Obligations of states and political subdivisions thereof 133,260 1,081 2,076 132,265 Corporate bonds 58,098 264 636 57,726 Total securities available for sale $ 737,141 $ 2,871 $ 14,175 $ 725,837 |
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 June 30, 2019 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 $ 275 $ 276 Over 1 year to 5 years 42,015 42,878 Over 5 years to 10 years 61,672 62,668 Over 10 years 97,156 99,064 Total bonds and obligations 201,118 204,886 Mortgage-backed securities 540,200 543,674 Total securities available for sale $ 741,318 $ 748,560 |
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 June 30, 2019 Debt securities: Mortgage-backed securities: US Government-sponsored enterprises $ 230 $ 6,510 $ 2,348 $ 119,451 $ 2,578 $ 125,961 US Government agency 5 3,160 378 26,316 383 29,476 Private label 221 19,729 4 40 225 19,769 Obligations of states and political subdivisions thereof — — 306 12,086 306 12,086 Corporate bonds 109 10,012 147 2,122 256 12,134 Total securities available for sale $ 565 $ 39,411 $ 3,183 $ 160,015 $ 3,748 $ 199,426 December 31, 2018 Debt securities: Mortgage-backed securities: US Government-sponsored enterprises $ 155 $ 19,367 $ 9,289 $ 297,569 $ 9,444 $ 316,936 US Government agency 16 2,570 1,919 68,266 1,935 70,836 Private label 79 10,393 5 47 84 10,440 Obligations of states and political subdivisions thereof 43 6,784 2,033 47,930 2,076 54,714 Corporate bonds 224 11,759 412 14,460 636 26,219 Total securities available for sale $ 517 $ 50,873 $ 13,658 $ 428,272 $ 14,175 $ 479,145 |
Schedule of other than temporary impairment losses | 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 and six months ended June 30, 2019 and 2018 the Company did not record any other-than-temporary impairment (“OTTI”) losses. Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Estimated credit losses as of prior year-end $ 1,697 $ 1,697 $ 1,697 $ 1,697 Reductions for securities paid off during the period — — — — Estimated credit losses at end of the period $ 1,697 $ 1,697 $ 1,697 $ 1,697 |
LOANS (Tables)
LOANS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Schedule of Loans | The following is a summary of total loans: June 30, 2019 December 31, 2018 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Commercial real estate: Construction and land development $ 33,524 $ 2,858 $ 36,382 $ 23,754 $ 2,890 $ 26,644 Other commercial real estate 615,743 229,354 845,097 555,980 244,075 800,055 Total commercial real estate 649,267 232,212 881,479 579,734 246,965 826,699 Commercial and industrial: Commercial 244,515 45,867 290,382 234,757 52,470 287,227 Agricultural 21,647 — 21,647 22,317 — 22,317 Tax exempt 67,374 37,322 104,696 56,588 38,738 95,326 Total commercial and industrial 333,536 83,189 416,725 313,662 91,208 404,870 Total commercial loans 982,803 315,401 1,298,204 893,396 338,173 1,231,569 Residential real estate: Residential mortgages 731,443 436,316 1,167,759 670,189 474,509 1,144,698 Total residential real estate 731,443 436,316 1,167,759 670,189 474,509 1,144,698 Consumer: Home equity 60,323 40,135 100,458 57,898 45,291 103,189 Other consumer 10,678 1,139 11,817 9,414 1,357 10,771 Total consumer 71,001 41,274 112,275 67,312 46,648 113,960 Total loans $ 1,785,247 $ 792,991 $ 2,578,238 $ 1,630,897 $ 859,330 $ 2,490,227 |
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 June 30, (in thousands) 2019 2018 Balance at beginning of period $ 4,150 $ 3,347 Reclassification from non-accretable difference for loans with improved (decreased) cash flows 402 (153 ) Accretion (357 ) (387 ) Balance at end of period $ 4,195 $ 2,807 Six Months Ended June 30, (in thousands) 2019 2018 Balance at beginning of period $ 4,377 $ 3,509 Reclassification from non-accretable difference for loans with improved cash flows 624 46 Accretion (806 ) (748 ) Balance at end of period $ 4,195 $ 2,807 |
Summary of Past Due Loans | The following is a summary of past due loans at June 30, 2019 and December 31, 2018 : 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 June 30, 2019 Commercial real estate: Construction and land development $ 73 $ — $ — $ 73 $ 33,451 $ 33,524 $ — Other commercial real estate 958 831 5,256 7,045 608,698 615,743 — Total commercial real estate 1,031 831 5,256 7,118 642,149 649,267 — Commercial and industrial: Commercial 144 385 600 1,129 243,386 244,515 — Agricultural 167 — 25 192 21,455 21,647 — Tax exempt — — — — 67,374 67,374 — Total commercial and industrial 311 385 625 1,321 332,215 333,536 — Total commercial loans 1,342 1,216 5,881 8,439 974,364 982,803 — Residential real estate: Residential mortgages 1,194 233 1,744 3,171 728,272 731,443 124 Total residential real estate 1,194 233 1,744 3,171 728,272 731,443 124 Consumer: Home equity 253 72 349 674 59,649 60,323 — Other consumer 19 7 — 26 10,652 10,678 — Total consumer 272 79 349 700 70,301 71,001 — Total loans $ 2,808 $ 1,528 $ 7,974 $ 12,310 $ 1,772,937 $ 1,785,247 $ 124 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 June 30, 2019 Commercial real estate: Construction and land development $ — $ — $ — $ — $ 181 $ 2,858 $ — Other commercial real estate 810 63 258 1,131 6,209 229,354 — Total commercial real estate 810 63 258 1,131 6,390 232,212 — Commercial and industrial: Commercial 98 36 455 589 509 45,867 — Agricultural — — — — — — — Tax exempt — — — — — 37,322 — Total commercial and industrial 98 36 455 589 509 83,189 — Total commercial loans 908 99 713 1,720 6,899 315,401 — Residential real estate: Residential mortgages 1,014 735 562 2,311 3,152 436,316 — Total residential real estate 1,014 735 562 2,311 3,152 436,316 — Consumer: Home equity 312 43 16 371 20 40,135 — Other consumer — — — — — 1,139 — Total consumer 312 43 16 371 20 41,274 — Total loans $ 2,234 $ 877 $ 1,291 $ 4,402 $ 10,071 $ 792,991 $ — 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, 2018 Commercial real estate: Construction and land development $ — $ — $ — $ — $ 23,754 $ 23,754 $ — Other commercial real estate 1,146 — 6,725 7,871 548,109 555,980 — Total commercial real estate 1,146 — 6,725 7,871 571,863 579,734 — Commercial and industrial: Commercial 395 60 402 857 233,900 234,757 50 Agricultural 65 6 25 96 22,221 22,317 — Tax exempt — — — — 56,588 56,588 — Total commercial and industrial 460 66 427 953 312,709 313,662 50 Total commercial loans 1,606 66 7,152 8,824 884,572 893,396 50 Residential real estate: Residential mortgages 3,565 641 1,309 5,515 664,674 670,189 — Total residential real estate 3,565 641 1,309 5,515 664,674 670,189 — Consumer: Home equity 72 — — 72 57,826 57,898 — Other consumer 17 — 11 28 9,386 9,414 — Total consumer 89 — 11 100 67,212 67,312 — Total loans $ 5,260 $ 707 $ 8,472 $ 14,439 $ 1,616,458 $ 1,630,897 $ 50 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, 2018 Commercial real estate: Construction and land development $ — $ — $ — $ — $ 164 $ 2,890 $ — Other commercial real estate 631 99 211 941 6,143 244,075 — Total commercial real estate 631 99 211 941 6,307 246,965 — Commercial and industrial: Commercial 149 26 494 669 679 52,470 — Agricultural — — — — — — — Tax exempt — — — — — 38,738 — Total commercial and industrial 149 26 494 669 679 91,208 — Total commercial loans 780 125 705 1,610 6,986 338,173 — Residential real estate: Residential mortgages 3,419 254 1,792 5,465 3,095 474,509 — Total residential real estate 3,419 254 1,792 5,465 3,095 474,509 — Consumer: Home equity 198 — 66 264 22 45,291 7 Other consumer 17 — — 17 3 1,357 189 Total consumer 215 — 66 281 25 46,648 196 Total loans $ 4,414 $ 379 $ 2,563 $ 7,356 $ 10,106 $ 859,330 $ 196 |
Summary of Information Pertaining to Non-Accrual Loans | The following is summary information pertaining to non-accrual loans at June 30, 2019 and December 31, 2018 : June 30, 2019 December 31, 2018 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Commercial real estate: Construction and land development $ 1 $ — $ 1 $ 1 $ — $ 1 Other commercial real estate 6,698 349 7,047 7,873 282 8,155 Total commercial real estate 6,699 349 7,048 7,874 282 8,156 Commercial and industrial: Commercial 1,254 584 1,838 1,423 643 2,066 Agricultural 243 — 243 265 — 265 Tax exempt — — — — — — Total commercial and industrial 1,497 584 2,081 1,688 643 2,331 Total commercial loans 8,196 933 9,129 9,562 925 10,487 Residential real estate: Residential mortgages 4,023 1,942 5,965 4,213 2,997 7,210 Total residential real estate 4,023 1,942 5,965 4,213 2,997 7,210 Consumer: Home equity 585 194 779 246 201 447 Other consumer 82 — 82 90 1 91 Total consumer 667 194 861 336 202 538 Total loans $ 12,886 $ 3,069 $ 15,955 $ 14,111 $ 4,124 $ 18,235 |
Schedule of Loans Evaluated for Impairment | Loans evaluated for impairment as of June 30, 2019 and December 31, 2018 are, as follows: Business Activities Loans (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total June 30, 2019 Balance at end of period Individually evaluated for impairment $ 8,737 $ 1,385 $ 2,669 $ 13 $ 12,804 Collectively evaluated 640,530 332,151 728,774 70,988 1,772,443 Total $ 649,267 $ 333,536 $ 731,443 $ 71,001 $ 1,785,247 Acquired Loans (in thousands) Commercial Commercial and industrial Residential Consumer Total June 30, 2019 Balance at end of period Individually evaluated for impairment $ 258 $ 417 $ 721 $ — $ 1,396 Purchased credit impaired 6,390 509 3,152 20 10,071 Collectively evaluated 225,564 82,263 432,443 41,254 781,524 Total $ 232,212 $ 83,189 $ 436,316 $ 41,274 $ 792,991 Business Activities Loans (in thousands) Commercial Commercial and industrial Residential Consumer Total December 31, 2018 Balance at end of period Individually evaluated for impairment $ 9,835 $ 1,445 $ 2,562 $ 13 $ 13,855 Collectively evaluated 569,899 312,217 667,627 67,299 1,617,042 Total $ 579,734 $ 313,662 $ 670,189 $ 67,312 $ 1,630,897 Acquired Loans (in thousands) Commercial Commercial and industrial Residential Consumer Total December 31, 2018 Balance at end of period Individually evaluated for impairment $ 188 $ 426 $ 744 $ — $ 1,358 Purchased credit impaired 6,307 679 3,095 25 10,106 Collectively evaluated 240,470 90,103 470,670 46,623 847,866 Total $ 246,965 $ 91,208 $ 474,509 $ 46,648 $ 859,330 |
Summary of Impaired Loans | The following is a summary of impaired loans at June 30, 2019 and December 31, 2018 : Business Activities Loans June 30, 2019 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Other commercial real estate 7,502 7,552 — Commercial 975 1,032 — Agricultural — — — Tax exempt loans — — — Residential real estate 2,099 2,246 — Home equity — — — Other consumer — — — With an allowance recorded: Construction and land development $ 1 $ 1 $ 1 Other commercial real estate 1,234 1,332 448 Commercial 410 438 39 Agricultural — — — Tax exempt loans — — — Residential real estate 570 597 75 Home equity 13 13 1 Other consumer — — — Total Commercial real estate $ 8,737 $ 8,885 $ 449 Commercial and industrial 1,385 1,470 39 Residential real estate 2,669 2,843 75 Consumer 13 13 1 Total impaired loans $ 12,804 $ 13,211 $ 564 Acquired Loans June 30, 2019 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Other commercial real estate 188 187 — Commercial 417 505 — Agricultural — — — Tax exempt loans — — — Residential real estate 361 518 — Home equity — — — Other consumer — — — With an allowance recorded: Construction and land development $ — $ — $ — Other commercial real estate 70 71 12 Commercial — — — Agricultural — — — Tax exempt loans — — — Residential real estate 360 377 35 Home equity — — — Other consumer — — — Total Commercial real estate $ 258 $ 258 $ 12 Commercial and industrial 417 505 — Residential real estate 721 895 35 Consumer — — — Total impaired loans $ 1,396 $ 1,658 $ 47 Business Activities Loans December 31, 2018 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Other commercial real estate 8,209 8,301 — Commercial 649 669 — Agricultural — — — Tax exempt loans — — — Residential real estate 1,671 1,709 — Home equity — — — Other consumer — — — With an allowance recorded: Construction and land development $ 1 $ 1 $ 1 Other commercial real estate 1,625 1,660 421 Commercial 796 855 78 Agricultural — — — Tax exempt loans — — — Residential real estate 891 916 111 Home equity 13 13 — Other consumer — — — Total Commercial real estate $ 9,835 $ 9,962 $ 422 Commercial and industrial 1,445 1,524 78 Residential real estate 2,562 2,625 111 Consumer 13 13 — Total impaired loans $ 13,855 $ 14,124 $ 611 Acquired Loans December 31, 2018 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance: Construction and land development $ — $ — $ — Other commercial real estate 188 187 — Commercial 426 510 — Agricultural — — — Tax exempt — — — Residential mortgages 375 524 — Home equity — — — Other consumer — — — With an allowance recorded: Construction and land development $ — $ — $ — Other commercial real estate — — — Commercial — — — Agricultural — — — Tax exempt — — — Residential mortgages 369 379 41 Home equity — — — Other consumer — — — Total Commercial real estate $ 188 $ 187 $ — Commercial and industrial 426 510 — Residential real estate 744 903 41 Consumer — — — Total impaired loans $ 1,358 $ 1,600 $ 41 |
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 for the three and six months ended June 30, 2019 and 2018 : Business Activities Loans Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance: Construction and land development $ — $ — $ — $ — Other commercial real estate 7,499 20 6,519 9 Commercial 940 2 731 3 Agricultural — — — — Tax exempt loans — — — — Residential real estate 2,104 16 4,057 9 Home equity — — 303 — Other consumer — — — — With an allowance recorded: Construction and land development $ 1 $ — $ — $ — Other commercial real estate 1,396 — 1,328 — Commercial 412 — 783 — Agricultural — — — — Tax exempt loans — — — — Residential real estate 572 3 798 2 Home equity 13 — — — Other consumer — — — — Total Commercial real estate $ 8,896 $ 20 $ 7,847 $ 9 Commercial and industrial 1,352 2 1,514 3 Residential real estate 2,676 19 4,855 11 Consumer 13 — 303 — Total impaired loans $ 12,937 $ 41 $ 14,519 $ 23 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance: Construction and land development $ — $ — $ — $ — Other commercial real estate 7,219 46 6,364 15 Commercial 931 3 680 5 Agricultural — — — — Tax exempt loans — — — — Residential real estate 2,113 31 4,063 19 Home equity — — 288 — Other consumer — — — — With an allowance recorded: Construction and land development $ 3 $ — $ — $ — Other commercial real estate 1,497 — 1,073 — Commercial 417 — 647 — Agricultural — — — — Tax exempt loans — — — — Residential real estate 534 5 696 5 Home equity 13 — — — Other consumer — — — — Total Commercial real estate $ 8,719 $ 46 $ 7,437 $ 15 Commercial and industrial 1,348 3 1,327 5 Residential real estate 2,647 36 4,759 24 Consumer 13 — 288 — Total impaired loans $ 12,727 $ 85 $ 13,811 $ 44 Acquired Loans Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance: Construction and land development $ — $ — $ — $ — Other commercial real estate 187 — 230 — Commercial 412 — 49 — Agricultural — — — — Tax exempt loans — — — — Residential real estate 426 — 93 — Home equity — — — — Other consumer — — — — With an allowance recorded: Construction and land development $ — $ — $ — $ — Other commercial real estate 71 — — — Commercial — — 383 1 Agricultural — — — — Tax exempt loans — — — — Residential real estate 363 — — — Home equity — — — — Other consumer — — — — Total Commercial real estate $ 258 $ — $ 230 $ — Commercial and industrial 412 — 432 1 Residential real estate 789 — 93 — Consumer — — — — Total impaired loans $ 1,459 $ — $ 755 $ 1 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance: Construction and land development $ — $ — $ — $ — Other commercial real estate 157 — 230 1 Commercial 446 — 49 — Agricultural — — — — Tax exempt loans — — — — Residential real estate 431 — 47 — Home equity — — — — Other consumer — — — — With an allowance recorded: Construction and land development $ — $ — $ — $ — Other commercial real estate 36 — — — Commercial — — 383 1 Agricultural — — — — Tax exempt loans — — — — Residential real estate 365 — — — Home equity — — — — Other consumer — — — — Total Commercial real estate $ 193 $ — $ 230 $ 1 Commercial and industrial 446 — 432 1 Residential real estate 796 — 47 — Consumer — — — — Total impaired loans $ 1,435 $ — $ 709 $ 2 |
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 and six months ended June 30, 2019 and 2018, 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. Modifications may include adjustments to interest rates, payment amounts, extensions of maturity, court ordered concessions or other actions intended to minimize economic loss and avoid foreclosure or repossession of collateral. Three Months Ended June 30, 2019 (in thousands, except modifications) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Other commercial real estate 2 $ 186 $ 177 Commercial 1 12 12 Residential mortgages 2 152 116 Total 5 $ 350 $ 305 Three Months Ended June 30, 2018 (in thousands, except modifications) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Other commercial real estate 5 $ 1,641 $ 1,390 Residential mortgages 7 1,091 1,060 Home equity 1 100 100 Other consumer 1 4 4 Total 14 $ 2,836 $ 2,554 Six Months Ended June 30, 2019 (in thousands) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Other commercial real estate 5 $ 299 $ 290 Other commercial 3 43 43 Residential mortgages 8 682 644 Total 16 $ 1,024 $ 977 Six Months Ended June 30, 2018 (in thousands) Number of Modifications Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Other commercial real estate 7 $ 1,674 $ 1,409 Other commercial 2 452 437 Agricultural 1 167 — Residential mortgages 12 2,196 1,646 Home equity 1 100 100 Other consumer 2 5 5 Total 25 $ 4,594 $ 3,597 The following tables summarize the types of loan concessions made for the periods presented: Three Months Ended June 30, 2019 2018 (in thousands, except modifications) Number of Modifications Post-Modification Outstanding Recorded Investment Number of Modifications Post-Modification Outstanding Recorded Investment Interest only payments and maturity concession 1 $ 70 — $ — Forbearance — — 2 158 Forbearance and interest only payments 2 131 — — Forbearance and maturity concession 1 46 7 779 Restructure with maturity concession — — 4 1,334 Other 1 58 1 283 Total 5 $ 305 14 $ 2,554 Six Months Ended June 30, 2019 2018 (in thousands, except modifications) Number of Modifications Post-Modification Outstanding Recorded Investment Number of Modifications Post-Modification Outstanding Recorded Investment Interest rate and maturity concession — $ — 1 $ 17 Interest only payments and maturity concession 2 75 — — Amortization and maturity concession 4 275 — — Forbearance 1 77 2 158 Forbearance and interest only payments 4 243 3 51 Forbearance and maturity concession 4 249 12 1,331 Maturity concession — — 1 423 Restructure with maturity concession — — 4 1,334 Other 1 58 2 283 Total 16 $ 977 25 $ 3,597 |
ALLOWANCE FOR LOAN LOSSES (Tabl
ALLOWANCE FOR LOAN LOSSES (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Schedule of Activity in the Allowance for Loan Losses | Activity in the allowance for loan losses for the three and six months ended June 30, 2019 and 2018 are, as follows: Business Activities Loans At or for the Three Months Ended June 30, 2019 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 6,575 $ 2,778 $ 3,953 $ 396 $ 13,702 Charged-off loans — (13 ) — (22 ) (35 ) Recoveries on charged-off loans 114 1 — 2 117 (Releases) provision for loan losses 517 (18 ) (11 ) 18 506 Balance at end of period $ 7,206 $ 2,748 $ 3,942 $ 394 $ 14,290 Individually evaluated for impairment 449 39 75 1 564 Collectively evaluated 6,757 2,709 3,867 393 13,726 Total $ 7,206 $ 2,748 $ 3,942 $ 394 $ 14,290 Business Activities Loans At or for the Six Months Ended June 30, 2019 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 6,811 $ 2,380 $ 3,982 $ 408 $ 13,581 Charged-off loans (57 ) (13 ) — (75 ) (145 ) Recoveries on charged-off loans 130 1 18 6 155 (Releases) provision for loan losses 322 380 (58 ) 55 699 Balance at end of period $ 7,206 $ 2,748 $ 3,942 $ 394 $ 14,290 Individually evaluated for impairment 449 39 75 1 564 Collectively evaluated 6,757 2,709 3,867 393 13,726 Total $ 7,206 $ 2,748 $ 3,942 $ 394 $ 14,290 Acquired Loans At or for the Three Months Ended June 30, 2019 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 161 $ 29 $ 105 $ — $ 295 Charged-off loans — — (65 ) (4 ) (69 ) Recoveries on charged-off loans — — — — — (Releases) provision for loan losses (2 ) (7 ) 61 4 56 Balance at end of period $ 159 $ 22 $ 101 $ — $ 282 Individually evaluated for impairment 12 — 35 — 47 Collectively evaluated 147 22 66 — 235 Total $ 159 $ 22 $ 101 $ — $ 282 Acquired Loans At or for the Six Months Ended June 30, 2019 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 173 $ 35 $ 77 $ — $ 285 Charged-off loans — (15 ) (170 ) (5 ) (190 ) Recoveries on charged-off loans — — — — — (Releases) provision for loan losses (14 ) 2 194 5 187 Balance at end of period $ 159 $ 22 $ 101 $ — $ 282 Individually evaluated for impairment 12 — 35 — 47 Collectively evaluated 147 22 66 — 235 Total $ 159 $ 22 $ 101 $ — $ 282 Business Activities Loans At or for the Three Months Ended June 30, 2018 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 5,998 $ 2,612 $ 3,304 $ 500 $ 12,414 Charged-off loans (156 ) (27 ) — (216 ) (399 ) Recoveries on charged-off loans 46 4 — 2 52 Provision (releases) for loan losses 479 (80 ) 150 107 656 Balance at end of period $ 6,367 $ 2,509 $ 3,454 $ 393 $ 12,723 Individually evaluated for impairment 682 34 80 — 796 Collectively evaluated 5,685 2,475 3,374 393 11,927 Total $ 6,367 $ 2,509 $ 3,454 $ 393 $ 12,723 Business Activities Loans At or for the Six Months Ended June 30, 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 (156 ) (111 ) — (386 ) (653 ) Recoveries on charged-off loans 61 6 1 4 72 Provision for loan losses 425 241 96 389 1,151 Balance at end of period $ 6,367 $ 2,509 $ 3,454 $ 393 $ 12,723 Individually evaluated for impairment 682 34 80 — 796 Collectively evaluated 5,685 2,475 3,374 393 11,927 Total $ 6,367 $ 2,509 $ 3,454 $ 393 $ 12,723 Acquired Loans At or for the Three Months Ended June 30, 2018 (in thousands) Commercial real estate Commercial and industrial Residential real estate Consumer Total Balance at beginning of period $ 83 $ 124 $ 58 $ — $ 265 Charged-off loans — (37 ) (64 ) (17 ) (118 ) Recoveries on charged-off loans 18 6 — 82 106 Provision (releases) for loan losses 99 (11 ) 91 (65 ) 114 Balance at end of period $ 200 $ 82 $ 85 $ — $ 367 Individually evaluated for impairment — 77 — — 77 Collectively evaluated 200 5 85 — 290 Total $ 200 $ 82 $ 85 $ — $ 367 Acquired Loans At or for the Six Months Ended June 30, 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 ) (95 ) (64 ) (60 ) (325 ) Recoveries on charged-off loans 18 6 — 82 106 Provision (releases) for loan losses 191 155 90 (22 ) 414 Balance at end of period $ 200 $ 82 $ 85 $ — $ 367 Individually evaluated for impairment — 77 — — 77 Collectively evaluated 200 5 85 — 290 Total $ 200 $ 82 $ 85 $ — $ 367 |
Schedule of Loans by Risk Rating | The following tables present the Company’s loans by risk rating at June 30, 2019 and December 31, 2018 : 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) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Grade: Pass $ 33,450 $ 23,680 $ 589,926 $ 532,386 $ 623,376 $ 556,066 Special mention 73 73 11,959 8,319 12,032 8,392 Substandard — — 12,337 13,914 12,337 13,914 Doubtful 1 1 1,521 1,361 1,522 1,362 Total $ 33,524 $ 23,754 $ 615,743 $ 555,980 $ 649,267 $ 579,734 Commercial and Industrial Credit Risk Profile by Creditworthiness Category Commercial Agricultural Tax exempt loans Total commercial and industrial (in thousands) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Grade: Pass $ 225,251 $ 226,353 $ 20,905 $ 21,680 $ 67,374 $ 56,588 $ 313,530 $ 304,621 Special mention 13,512 6,730 358 215 — — 13,870 6,945 Substandard 5,037 924 384 422 — — 5,421 1,346 Doubtful 715 750 — — — — 715 750 Total $ 244,515 $ 234,757 $ 21,647 $ 22,317 $ 67,374 $ 56,588 $ 333,536 $ 313,662 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) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Performing $ 727,420 $ 665,976 $ 59,738 $ 57,652 $ 10,596 $ 9,324 $ 797,754 $ 732,952 Nonperforming 4,023 4,213 585 246 82 90 4,690 4,549 Total $ 731,443 $ 670,189 $ 60,323 $ 57,898 $ 10,678 $ 9,414 $ 802,444 $ 737,501 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) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Grade: Pass $ 2,579 $ 2,626 $ 220,959 $ 236,393 $ 223,538 $ 239,019 Special mention — — 1,964 1,574 1,964 1,574 Substandard 279 264 6,263 6,009 6,542 6,273 Doubtful — — 168 99 168 99 Total $ 2,858 $ 2,890 $ 229,354 $ 244,075 $ 232,212 $ 246,965 Commercial and Industrial Credit Risk Profile by Creditworthiness Category Commercial Agricultural Tax exempt loans Total commercial and industrial (in thousands) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Grade: Pass $ 38,554 $ 46,120 $ — $ — $ 37,322 $ 38,738 $ 75,876 $ 84,858 Special mention 5,819 4,825 — — — — 5,819 4,825 Substandard 1,153 1,222 — — — — 1,153 1,222 Doubtful 341 303 — — — — 341 303 Total $ 45,867 $ 52,470 $ — $ — $ 37,322 $ 38,738 $ 83,189 $ 91,208 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) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 Performing $ 433,244 $ 470,497 $ 39,941 $ 45,090 $ 1,139 $ 1,356 $ 474,324 $ 516,943 Nonperforming 3,072 4,012 194 201 — 1 3,266 4,214 Total $ 436,316 $ 474,509 $ 40,135 $ 45,291 $ 1,139 $ 1,357 $ 477,590 $ 521,157 |
Summary of Information About Total Loans Rated Special Mention or Lower | The following table summarizes total classified and criticized loans as of June 30, 2019 and December 31, 2018 : June 30, 2019 December 31, 2018 (in thousands) Business Activities Loans Acquired Loans Total Business Activities Loans Acquired Loans Total Non-accrual $ 12,886 $ 3,069 $ 15,955 $ 14,111 $ 4,124 $ 18,235 Substandard accruing 11,799 8,401 20,200 7,810 7,987 15,797 Doubtful accruing — — — — — — Total classified 24,685 11,470 36,155 21,921 12,111 34,032 Special mention 25,902 7,783 33,685 15,337 6,399 21,736 Total Criticized $ 50,587 $ 19,253 $ 69,840 $ 37,258 $ 18,510 $ 55,768 |
BORROWED FUNDS (Tables)
BORROWED FUNDS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Borrowed Funds | Borrowed funds at June 30, 2019 and December 31, 2018 are summarized, as follows: June 30, 2019 December 31, 2018 (dollars in thousands) Carrying Value Weighted Average Rate Carrying Value Weighted Average Rate Short-term borrowings Advances from the FHLB $ 549,168 2.42 % $ 611,683 2.47 % Other borrowings 36,940 1.48 36,211 1.09 Total short-term borrowings 586,108 2.37 647,894 2.39 Long-term borrowings Advances from the FHLB 146,976 2.32 32,929 1.86 Subordinated borrowings 37,943 5.84 37,973 5.58 Junior subordinated borrowings 5,000 5.99 5,000 5.96 Total long-term borrowings 189,919 3.12 75,902 3.99 Total $ 776,027 2.55 % $ 723,796 2.56 % |
Summary of Maturities of FHLBB Advances | A summary of maturities of FHLB advances as of June 30, 2019 is, as follows: June 30, 2019 (in thousands, except rates) Carrying Value Weighted Average Rate Fixed rate advances maturing: 2019 $ 524,195 2.46 % 2020 54,973 2.12 2021 1,655 1.90 2022 114,000 2.31 2023 1,000 — 2024 and thereafter 321 2.52 Total FHLB advances $ 696,144 2.40 % |
DEPOSITS (Tables)
DEPOSITS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Deposits [Abstract] | |
Summary of Time Deposits | A summary of time deposits is, as follows: (in thousands) June 30, 2019 December 31, 2018 Time less than $100,000 $ 694,523 $ 622,478 Time $100,000 through $250,000 166,211 193,535 Time $250,000 or more 135,778 116,780 Total time deposits $ 996,512 $ 932,793 |
Time Deposit Maturities | At June 30, 2019 and December 31, 2018 , the scheduled maturities by year for time deposits are, as follows: (in thousands) June 30, 2019 December 31, 2018 Within 1 year $ 557,749 $ 505,313 Over 1 year to 2 years 332,976 258,176 Over 2 years to 3 years 62,246 123,337 Over 3 years to 4 years 20,508 14,494 Over 4 years to 5 years 22,773 31,353 Over 5 years 260 120 Total $ 996,512 $ 932,793 |
CAPITAL RATIOS AND SHAREHOLDE_2
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Actual and Required Capital Ratios | The actual and required capital ratios are, as follows: June 30, 2019 Regulatory Minimum to be "Well Capitalized" December 31, 2018 Regulatory Minimum to be "Well Capitalized" Company (consolidated) Total capital to risk-weighted assets 13.93 % N/A 14.23 % N/A Common equity tier 1 capital to risk-weighted assets 11.57 N/A 11.80 N/A Tier 1 capital to risk-weighted assets 12.42 N/A 12.68 N/A Tier 1 capital to average assets 8.57 N/A 8.53 N/A Bank Total capital to risk-weighted assets 13.42 % 10.00 % 13.82 % 10.00 % Common equity tier 1 capital to risk-weighted assets 12.60 6.50 12.99 6.50 Tier 1 capital to risk-weighted assets 12.60 8.00 12.99 8.00 Tier 1 capital to average assets 8.69 5.00 8.74 5.00 |
Schedule of Components of Accumulated Other Comprehensive Income | Components of accumulated other comprehensive income (loss) is, as follows: (in thousands) June 30, 2019 December 31, 2018 Other accumulated comprehensive income (loss), before tax: Net unrealized gain (loss) on AFS securities $ 7,242 $ (11,304 ) Net unrealized loss on effective cash flow hedging derivatives (4,936 ) (2,934 ) Net unrealized loss on post-retirement plans (1,162 ) (1,162 ) Income taxes related to items of accumulated other comprehensive (income) loss: Net unrealized (gain) loss on AFS securities (1,693 ) 2,641 Net unrealized loss on effective cash flow hedging derivatives 1,154 685 Net unrealized loss on post-retirement plans 272 272 Accumulated other comprehensive income (loss) $ 877 $ (11,802 ) |
Schedule of Components of Other Comprehensive Income | The following table presents the components of other comprehensive income (loss) for the three and six months ended June 30, 2019 and 2018 : (in thousands) Before Tax Tax Effect Net of Tax Three Months Ended June 30, 2019 Net unrealized gain on AFS securities: Net unrealized gain arising during the period $ 9,646 $ (2,255 ) $ 7,391 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on AFS securities 9,646 (2,255 ) 7,391 Net unrealized loss on cash flow hedging derivatives: Net unrealized loss arising during the period (1,157 ) 271 (886 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on cash flow hedging derivatives (1,157 ) 271 (886 ) Net unrealized gain on post-retirement plans: Net unrealized gain arising during the period — — — Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on post-retirement plans — — — Other comprehensive income $ 8,489 $ (1,984 ) $ 6,505 Three Months Ended June 30, 2018 Net unrealized loss on AFS securities: Net unrealized loss arising during the period $ (3,087 ) $ 731 $ (2,356 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on AFS securities (3,087 ) 731 (2,356 ) Net unrealized gain on cash flow hedging derivatives: Net unrealized gain arising during the period 226 (54 ) 172 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on cash flow hedging derivatives 226 (54 ) 172 Net unrealized gain on post-retirement plans: Net unrealized gain arising during the period — — — Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on post-retirement plans — — — Other comprehensive loss $ (2,861 ) $ 677 $ (2,184 ) (in thousands) Before Tax Tax Effect Net of Tax Six Months Ended June 30, 2019 Net unrealized gain on AFS securities: Net unrealized gain arising during the period $ 18,546 $ (4,334 ) $ 14,212 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on AFS securities 18,546 (4,334 ) 14,212 Net unrealized loss on derivative hedges: Net unrealized loss arising during the period (2,002 ) 469 (1,533 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on derivative hedges (2,002 ) 469 (1,533 ) Net unrealized gain on post-retirement plans: Net unrealized gain arising during the period — — — Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on post-retirement plans — — — Other comprehensive income $ 16,544 $ (3,865 ) $ 12,679 Six Months Ended June 30, 2018 Net unrealized loss on AFS securities: Net unrealized loss arising during the period $ (13,789 ) $ 3,274 $ (10,515 ) Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized loss on AFS securities (13,789 ) 3,274 (10,515 ) Net unrealized gain on cash flow hedging derivatives: Net unrealized gain arising during the period 880 (209 ) 671 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on cash flow hedging derivatives 880 (209 ) 671 Net unrealized gain on post-retirement plans: Net unrealized gain arising during the period 41 (10 ) 31 Less: reclassification adjustment for gains (losses) realized in net income — — — Net unrealized gain on post-retirement plans 41 (10 ) 31 Other comprehensive loss $ (12,868 ) $ 3,055 $ (9,813 ) |
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 and six months ended June 30, 2019 and 2018 : (in thousands) Net unrealized (loss) gain on AFS Securities Net loss on effective cash flow hedging derivatives Net unrealized loss on pension plans Total Three Months Ended June 30, 2019 Balance at beginning of period $ (1,844 ) $ (2,896 ) $ (888 ) $ (5,628 ) Other comprehensive gain (loss) before reclassifications 7,391 (886 ) — 6,505 Less: amounts reclassified from accumulated other comprehensive income — — — — Total other comprehensive income (loss) 7,391 (886 ) — 6,505 Balance at end of period $ 5,547 $ (3,782 ) $ (888 ) $ 877 Three Months Ended June 30, 2018 Balance at beginning of period $ (10,239 ) $ (2,236 ) $ (688 ) $ (13,163 ) Other comprehensive (loss) gain before reclassifications (2,356 ) 172 — (2,184 ) Less: amounts reclassified from accumulated other comprehensive income — — — — Total other comprehensive (loss) income (2,356 ) 172 — (2,184 ) Balance at end of period $ (12,595 ) $ (2,064 ) $ (688 ) $ (15,347 ) Six Months Ended June 30, 2019 Balance at beginning of period $ (8,665 ) $ (2,249 ) $ (888 ) $ (11,802 ) Other comprehensive gain (loss) before reclassifications 14,212 (1,533 ) — 12,679 Less: amounts reclassified from accumulated other comprehensive income — — — — Total other comprehensive income (loss) 14,212 (1,533 ) — 12,679 Balance at end of period $ 5,547 $ (3,782 ) $ (888 ) $ 877 Six Months Ended June 30, 2018 Balance at beginning of period $ (1,713 ) $ (2,250 ) $ (591 ) $ (4,554 ) Other comprehensive (loss) gain before reclassifications (10,515 ) 671 31 (9,813 ) Less: amounts reclassified from accumulated other comprehensive income — — — — Total other comprehensive (loss) income (10,515 ) 671 31 (9,813 ) Less: amounts reclassified from accumulated other comprehensive income for ASU 2018-02 (367 ) (485 ) (128 ) (980 ) Balance at end of period $ (12,595 ) $ (2,064 ) $ (688 ) $ (15,347 ) |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share | The following table presents the calculation of earnings per share: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share and share data) 2019 2018 2019 2018 Net income $ 6,117 $ 8,535 $ 13,398 $ 16,347 Average number of basic common shares outstanding 15,538,282 15,482,188 15,530,893 15,465,357 Plus: dilutive effect of stock options and awards outstanding (1) 47,299 89,263 51,340 94,614 Average number of diluted common shares outstanding (1) 15,585,581 15,571,451 15,582,233 15,559,971 Anti-dilutive options excluded from earnings calculation — 3,173 — 19,488 Earnings per share: Basic $ 0.39 $ 0.55 $ 0.86 $ 1.06 Diluted $ 0.39 $ 0.55 $ 0.86 $ 1.05 _____________________________________ (1) Average diluted shares outstanding are computed using the treasury stock method. |
DERIVATIVE FINANCIAL INSTRUME_2
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of information about derivative assets and liabilities | The following tables present information about derivative assets and liabilities at June 30, 2019 and December 31, 2018 : June 30, 2019 Notional Amount Weighted Average Maturity Estimated Fair Value Asset (Liability) (in thousands) (in years) (in thousands) Cash flow hedges: Interest rate cap agreements $ 90,000 3.6 $ 174 Interest rate swap on deposits 50,000 4.8 (1,710 ) Total cash flow hedges 140,000 (1,536 ) Economic hedges: Forward sale commitments 3,561 0.1 (30 ) Total economic hedges 3,561 (30 ) Non-hedging derivatives: Interest rate lock commitments 8,082 0.1 71 Customer loan derivative liability 130,245 9.2 (6,887 ) Customer loan derivative asset 130,245 9.2 6,887 Total non-hedging derivatives 268,572 71 Total $ 412,133 $ (1,495 ) December 31, 2018 Notional Amount Weighted Average Maturity Estimated Fair Value Asset (Liability) (in thousands) (in years) (in thousands) Cash flow hedges: Interest rate cap agreements $ 90,000 4.1 $ 803 Total cash flow hedges 90,000 803 Non-hedging derivatives: Interest rate lock commitments 957 0.1 8 Customer loan derivative liability 45,641 9.9 (1,353 ) Customer loan derivative asset 45,641 9.9 1,353 Total non-hedging derivatives 92,239 8 Total $ 182,239 $ 811 Information about derivative assets and liabilities for the three and six months ended June 30, 2019 and 2018 is, as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Cash flow hedges: Interest rate cap agreements Realized gain (loss) in interest expense $ (174 ) $ (122 ) $ (337 ) $ (230 ) Economic hedges: Forward commitments Realized (loss) gain in other non-interest income 35 (23 ) (30 ) 147 Non-hedging derivatives: Interest rate lock commitments Realized gain in other non-interest income 57 1 63 9 |
LEASES (Tables)
LEASES (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Right-of-use assets and lease liabilities | The following table presents the consolidated statements of condition classification of the Company’s ROU assets and lease liabilities as of June 30, 2019 : (in thousands) June 30, 2019 Lease Right-of-Use Assets Classification Operating lease right-of-use assets Other assets $ 8,629 Lease Liabilities Operating lease liabilities Other liabilities 8,681 |
Additional information regarding leases | The following table represents lease costs and other lease information. As the Company elected, for all classes of underlying assets, not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as real estate taxes, common area maintenance and utilities. (in thousands) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Lease Costs Operating lease cost $ 233 $ 464 Variable lease cost 84 208 Total lease cost $ 317 $ 672 June 30, 2019 Weighted-average remaining lease term Operating leases 10 years Weighted-average discount rate Operating leases 3.37 % |
Future minimum payments for leases | Future minimum payments for operating leases with initial or remaining terms of one year or more as of June 30, 2019 are, as follows: (in thousands) Operating Leases Twelve Months Ended: June 30, 2020 $ 917 June 30, 2021 898 June 30, 2022 908 June 30, 2023 910 June 30, 2024 913 Thereafter 6,296 Total future minimum lease payments 10,842 Amounts representing interest (2,161 ) Present value of net future minimum lease payments $ 8,681 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: June 30, 2019 (in thousands) Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value Available for sale securities: Mortgage-backed securities: US Government-sponsored enterprises $ — $ 403,528 $ — $ 403,528 US Government agency — 119,985 — 119,985 Private label — 20,161 — 20,161 Obligations of states and political subdivisions thereof — 127,078 — 127,078 Corporate bonds — 77,808 — 77,808 Derivative assets — 7,061 71 7,132 Derivative liabilities — (8,597 ) (30 ) (8,627 ) December 31, 2018 (in thousands) Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value Available for sale securities: Mortgage-backed securities: US Government-sponsored enterprises $ — $ 404,952 $ — $ 404,952 US Government agency — 110,512 — 110,512 Private label — 20,382 — 20,382 Obligations of states and political subdivisions thereof — 132,265 — 132,265 Corporate bonds — 57,726 — 57,726 Derivative assets — 2,156 8 2,164 Derivative liabilities — (1,353 ) — (1,353 ) |
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 and six months ended June 30, 2019 : Assets (Liabilities) (in thousands) Interest Rate Lock Commitments Forward Commitments Three Months Ended June 30, 2019 Balance at beginning of period $ 14 $ (65 ) Realized gain recognized in non-interest income 57 35 June 30, 2019 Balance $ 71 $ (30 ) Six Months Ended June 30, 2019 Balance at beginning of period $ 8 $ — Realized gain (loss) recognized in non-interest income 63 (30 ) June 30, 2019 Balance $ 71 $ (30 ) |
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 Unobservable Input Value Assets (Liabilities) Interest Rate Lock Commitment $ 71 Historical trend Closing Ratio 90 % Pricing Model Origination Costs, per loan $ 1.7 Forward Commitments (30 ) Quoted prices for similar loans in active markets. Freddie Mac pricing system Pair-off contract price Total $ 41 Quantitative information about the significant unobservable inputs within Level 3 non-recurring assets is, as follows: Fair Value Range (in thousands, except ratios) June 30, 2019 Valuation Techniques Unobservable Inputs (Weighted Average) (a) Assets Impaired loans $ 10,818 Fair value of collateral -appraised value Loss severity 0% to 65% Appraised value $0 to $6,915 Impaired loans 3,382 Discount cash flow Discount rate 2.88% to 7.50% Cash flows $22 to $1,071 Capitalized servicing rights 4,261 Discounted cash flow Constant prepayment rate (CPR) 9.64 % Discount rate 10.08 % Other real estate owned 2,351 Fair value of collateral less selling costs Appraised value $2,700 Selling Costs 12.93 % Total $ 20,812 (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, 2018 Valuation Techniques Unobservable Inputs (Weighted Average) (a) Assets Impaired loans $ 11,676 Fair value of collateral -appraised value Loss severity 0% to 55.00% Appraised value $0 to $6,915 Impaired loans 3,537 Discount cash flow Discount rate 2.88% to 9.50% Cash flows $22 to $1,072 Capitalized servicing rights 4,882 Discounted cash flow Constant prepayment rate (CPR) 8.19 % Discount rate 10.08 % Other real estate owned 2,351 Fair value of collateral less selling costs Appraised value $2,700 Selling Costs 12.93 % Total $ 22,446 (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: June 30, 2019 December 31, 2018 Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Fair Value Measurement Date as of June 30, 2019 (in thousands) Level 3 Inputs Level 3 Total Gains (Losses) Total Gains (Losses) Level 3 Inputs Assets Impaired loans $ 14,200 $ 15,213 $ 395 $ 1,013 June 2019 Capitalized servicing rights 4,261 4,882 — — June 2019 Other real estate owned 2,351 2,351 — — June 2018 Total $ 20,812 $ 22,446 $ 395 $ 1,013 |
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 are included in the table below. 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. June 30, 2019 (in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 59,860 $ 59,860 $ 59,860 $ — $ — Securities available for sale 748,560 748,560 — 748,560 — FHLB stock 35,220 35,220 — 35,220 — Net loans 2,563,666 2,552,387 — — 2,552,387 Accrued interest receivable 3,586 3,586 — 3,586 — Cash surrender value of bank-owned life insurance policies 74,871 74,871 — 74,871 — Derivative assets 7,132 7,132 — 7,061 71 Financial Liabilities Total deposits $ 2,481,376 $ 2,457,385 $ — $ 2,457,385 $ — Securities sold under agreements to repurchase 36,940 36,939 — 36,939 — FHLB advances 696,144 696,273 — 696,273 — Subordinated borrowings 37,943 37,943 — 37,943 — Junior subordinated borrowings 5,000 4,537 — 4,537 — Derivative liabilities (8,627 ) (8,627 ) — (8,597 ) (30 ) December 31, 2018 (in thousands) Carrying Fair Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 98,754 $ 98,754 $ 98,754 $ — $ — Securities available for sale 725,837 725,837 — 725,837 — FHLB stock 35,659 35,659 — 35,659 — Net loans 2,476,361 2,415,863 — — 2,415,863 Accrued interest receivable 3,533 3,533 — 3,533 — Cash surrender value of bank-owned life insurance policies 73,810 73,810 — 73,810 — Derivative assets 2,164 2,164 — 2,156 8 Financial Liabilities Total deposits $ 2,483,238 $ 2,404,250 $ — $ 2,404,250 $ — Securities sold under agreements to repurchase 36,211 36,171 — 36,171 — FHLB advances 644,611 643,065 — 643,065 — Subordinated borrowings 37,973 37,973 — 37,973 — Junior subordinated borrowings 5,000 3,923 — 3,923 — Derivative liabilities (1,353 ) (1,353 ) — — (1,353 ) |
NON-INTEREST INCOME (Tables)
NON-INTEREST INCOME (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The following tables present disaggregation of the Company’s non-interest revenue by major business line and timing of revenue recognition for the transfer of products or services: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Major Products/Service Lines Trust management fees $ 2,794 $ 2,807 $ 5,319 $ 5,547 Financial services fees 272 315 505 536 Interchange fees 1,213 1,107 2,244 2,131 Customer deposit fees 1,026 1,019 1,933 1,998 Other customer service fees 379 221 605 443 Total $ 5,684 $ 5,469 $ 10,606 $ 10,655 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Timing of Revenue Recognition Products and services transferred at a point in time $ 2,767 $ 2,643 $ 5,034 $ 4,994 Products and services transferred over time 2,917 2,826 5,572 5,661 Total $ 5,684 $ 5,469 $ 10,606 $ 10,655 |
Contract Balances from Contracts with Customers | The following table provides information about contract assets or receivables and contract liabilities or deferred revenues from contracts with customers: (in thousands) Balance at June 30, 2019 Balance at December 31, 2018 Balances from contracts with customers only: Other Assets $ 1,859 $ 2,866 Other Liabilities 4,732 4,923 |
BASIS OF PRESENTATION - Recent
BASIS OF PRESENTATION - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Right-of-use asset | $ 8,629 | $ 9,000 |
Lease liability | $ 8,681 | 9,000 |
Accounting Standards Update 2016-02 | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Right-of-use asset | 9,000 | |
Lease liability | $ 9,000 |
SECURITIES AVAILABLE FOR SALE -
SECURITIES AVAILABLE FOR SALE - Summary of Securities Available for Sale (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Amortized Cost | $ 741,318 | $ 737,141 |
Gross Unrealized Gains | 10,990 | 2,871 |
Gross Unrealized Losses | 3,748 | 14,175 |
Fair Value | 748,560 | 725,837 |
US Government-sponsored enterprises | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Amortized Cost | 401,311 | 413,492 |
Gross Unrealized Gains | 4,795 | 904 |
Gross Unrealized Losses | 2,578 | 9,444 |
Fair Value | 403,528 | 404,952 |
US Government agency | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Amortized Cost | 118,583 | 111,938 |
Gross Unrealized Gains | 1,785 | 509 |
Gross Unrealized Losses | 383 | 1,935 |
Fair Value | 119,985 | 110,512 |
Private label | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Amortized Cost | 20,306 | 20,353 |
Gross Unrealized Gains | 80 | 113 |
Gross Unrealized Losses | 225 | 84 |
Fair Value | 20,161 | 20,382 |
Obligations of states and political subdivisions thereof | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Amortized Cost | 124,254 | 133,260 |
Gross Unrealized Gains | 3,130 | 1,081 |
Gross Unrealized Losses | 306 | 2,076 |
Fair Value | 127,078 | 132,265 |
Corporate bonds | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis | ||
Amortized Cost | 76,864 | 58,098 |
Gross Unrealized Gains | 1,200 | 264 |
Gross Unrealized Losses | 256 | 636 |
Fair Value | $ 77,808 | $ 57,726 |
SECURITIES AVAILABLE FOR SALE_2
SECURITIES AVAILABLE FOR SALE - Schedule of Maturity of Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Amortized Cost | ||
Within 1 year | $ 275 | |
Over 1 year to 5 years | 42,015 | |
Over 5 years to 10 years | 61,672 | |
Over 10 years | 97,156 | |
Total bonds and obligations | 201,118 | |
Mortgage-backed securities | 540,200 | |
Amortized Cost | 741,318 | $ 737,141 |
Fair Value | ||
Within 1 year | 276 | |
Over 1 year to 5 years | 42,878 | |
Over 5 years to 10 years | 62,668 | |
Over 10 years | 99,064 | |
Total bonds and obligations | 204,886 | |
Mortgage-backed securities | 543,674 | |
Total securities available for sale | $ 748,560 | $ 725,837 |
SECURITIES AVAILABLE FOR SALE_3
SECURITIES AVAILABLE FOR SALE - Summary of Securities with Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Gross Unrealized Losses | ||
Less Than Twelve Months | $ 565 | $ 517 |
Over Twelve Months | 3,183 | 13,658 |
Total | 3,748 | 14,175 |
Fair Value | ||
Less Than Twelve Months | 39,411 | 50,873 |
Over Twelve Months | 160,015 | 428,272 |
Total | 199,426 | 479,145 |
US Government-sponsored enterprises | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 230 | 155 |
Over Twelve Months | 2,348 | 9,289 |
Total | 2,578 | 9,444 |
Fair Value | ||
Less Than Twelve Months | 6,510 | 19,367 |
Over Twelve Months | 119,451 | 297,569 |
Total | 125,961 | 316,936 |
US Government agency | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 5 | 16 |
Over Twelve Months | 378 | 1,919 |
Total | 383 | 1,935 |
Fair Value | ||
Less Than Twelve Months | 3,160 | 2,570 |
Over Twelve Months | 26,316 | 68,266 |
Total | 29,476 | 70,836 |
Private label | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 221 | 79 |
Over Twelve Months | 4 | 5 |
Total | 225 | 84 |
Fair Value | ||
Less Than Twelve Months | 19,729 | 10,393 |
Over Twelve Months | 40 | 47 |
Total | 19,769 | 10,440 |
Obligations of states and political subdivisions thereof | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 0 | 43 |
Over Twelve Months | 306 | 2,033 |
Total | 306 | 2,076 |
Fair Value | ||
Less Than Twelve Months | 0 | 6,784 |
Over Twelve Months | 12,086 | 47,930 |
Total | 12,086 | 54,714 |
Corporate bonds | ||
Gross Unrealized Losses | ||
Less Than Twelve Months | 109 | 224 |
Over Twelve Months | 147 | 412 |
Total | 256 | 636 |
Fair Value | ||
Less Than Twelve Months | 10,012 | 11,759 |
Over Twelve Months | 2,122 | 14,460 |
Total | $ 12,134 | $ 26,219 |
SECURITIES AVAILABLE FOR SALE_4
SECURITIES AVAILABLE FOR SALE - Securities Impairment (Details) - Available-for-sale Securities - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||
Estimated credit losses as of prior year-end | $ 1,697 | $ 1,697 | ||
Reductions for securities paid off during the period | $ 0 | $ 0 | 0 | 0 |
Estimated credit losses at end of the period | $ 1,697 | $ 1,697 | $ 1,697 | $ 1,697 |
SECURITIES AVAILABLE FOR SALE_5
SECURITIES AVAILABLE FOR SALE - Narrative (Details) | 6 Months Ended |
Jun. 30, 2019security | |
US Government-sponsored enterprises | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 249 |
Available for sale securities portfolio, number of securities (security) | 752 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 2.00% |
US Government agency | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 57 |
Available for sale securities portfolio, number of securities (security) | 196 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 1.30% |
Private label | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 7 |
Available for sale securities portfolio, number of securities (security) | 20 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 1.10% |
Obligations of states and political subdivisions thereof | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 20 |
Available for sale securities portfolio, number of securities (security) | 239 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 2.50% |
Corporate bonds | |
Investment Holdings [Line Items] | |
Available-for-sale, securities in unrealized loss positions (security) | 5 |
Available for sale securities portfolio, number of securities (security) | 27 |
Available for sale and held to maturity securities, continuous unrealized loss position, aggregate losses percentage | 2.10% |
LOANS - Summary of Total Loans
LOANS - Summary of Total Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 2,578,238 | $ 2,490,227 |
Total Loans | 2,578,238 | 2,490,227 |
Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 792,991 | 859,330 |
Past due loans receivable | 4,402 | 7,356 |
Current | 10,071 | |
Total Loans | 792,991 | 859,330 |
Past Due More Than 90 days and Accruing | 0 | 196 |
Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,785,247 | 1,630,897 |
Past due loans receivable | 12,310 | 14,439 |
Current | 1,772,937 | 1,616,458 |
Total Loans | 1,785,247 | 1,630,897 |
Past Due More Than 90 days and Accruing | 124 | 50 |
Total commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 881,479 | 826,699 |
Total commercial real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 232,212 | 246,965 |
Past due loans receivable | 1,131 | 941 |
Current | 6,390 | |
Total Loans | 232,212 | 246,965 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 649,267 | 579,734 |
Past due loans receivable | 7,118 | 7,871 |
Current | 642,149 | 571,863 |
Total Loans | 649,267 | 579,734 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial real estate | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 36,382 | 26,644 |
Total commercial real estate | Construction and land development | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 2,858 | 2,890 |
Past due loans receivable | 0 | 0 |
Current | 181 | |
Total Loans | 2,858 | 2,890 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial real estate | Construction and land development | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 33,524 | 23,754 |
Past due loans receivable | 73 | 0 |
Current | 33,451 | 23,754 |
Total Loans | 33,524 | 23,754 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial real estate | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 845,097 | 800,055 |
Total commercial real estate | Other commercial real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 229,354 | 244,075 |
Past due loans receivable | 1,131 | 941 |
Current | 6,209 | |
Total Loans | 229,354 | 244,075 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial real estate | Other commercial real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 615,743 | 555,980 |
Past due loans receivable | 7,045 | 7,871 |
Current | 608,698 | 548,109 |
Total Loans | 615,743 | 555,980 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 416,725 | 404,870 |
Total commercial and industrial | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 83,189 | 91,208 |
Past due loans receivable | 589 | 669 |
Current | 509 | |
Total Loans | 83,189 | 91,208 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial and industrial | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 333,536 | 313,662 |
Past due loans receivable | 1,321 | 953 |
Current | 332,215 | 312,709 |
Total Loans | 333,536 | 313,662 |
Past Due More Than 90 days and Accruing | 0 | 50 |
Total commercial and industrial | Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 290,382 | 287,227 |
Total commercial and industrial | Commercial | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 45,867 | 52,470 |
Past due loans receivable | 589 | 669 |
Current | 509 | |
Total Loans | 45,867 | 52,470 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial and industrial | Commercial | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 244,515 | 234,757 |
Past due loans receivable | 1,129 | 857 |
Current | 243,386 | 233,900 |
Total Loans | 244,515 | 234,757 |
Past Due More Than 90 days and Accruing | 0 | 50 |
Total commercial and industrial | Agricultural | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 21,647 | 22,317 |
Total commercial and industrial | Agricultural | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 0 | 0 |
Past due loans receivable | 0 | 0 |
Current | 0 | |
Total Loans | 0 | 0 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial and industrial | Agricultural | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 21,647 | 22,317 |
Past due loans receivable | 192 | 96 |
Current | 21,455 | 22,221 |
Total Loans | 21,647 | 22,317 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial and industrial | Tax exempt | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 104,696 | 95,326 |
Total commercial and industrial | Tax exempt | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 37,322 | 38,738 |
Past due loans receivable | 0 | 0 |
Current | 0 | |
Total Loans | 37,322 | 38,738 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial and industrial | Tax exempt | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 67,374 | 56,588 |
Past due loans receivable | 0 | 0 |
Current | 67,374 | 56,588 |
Total Loans | 67,374 | 56,588 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,298,204 | 1,231,569 |
Total commercial loans | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 315,401 | 338,173 |
Past due loans receivable | 1,720 | 1,610 |
Current | 6,899 | |
Total Loans | 315,401 | 338,173 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total commercial loans | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 982,803 | 893,396 |
Past due loans receivable | 8,439 | 8,824 |
Current | 974,364 | 884,572 |
Total Loans | 982,803 | 893,396 |
Past Due More Than 90 days and Accruing | 0 | 50 |
Total residential real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,167,759 | 1,144,698 |
Total residential real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 436,316 | 474,509 |
Past due loans receivable | 2,311 | 5,465 |
Current | 3,152 | |
Total Loans | 436,316 | 474,509 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total residential real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 731,443 | 670,189 |
Past due loans receivable | 3,171 | 5,515 |
Current | 728,272 | 664,674 |
Total Loans | 731,443 | 670,189 |
Past Due More Than 90 days and Accruing | 124 | 0 |
Total residential real estate | Residential mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,167,759 | 1,144,698 |
Total residential real estate | Residential mortgages | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 436,316 | 474,509 |
Past due loans receivable | 2,311 | 5,465 |
Current | 3,152 | |
Total Loans | 436,316 | 474,509 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total residential real estate | Residential mortgages | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 731,443 | 670,189 |
Past due loans receivable | 3,171 | 5,515 |
Current | 728,272 | 664,674 |
Total Loans | 731,443 | 670,189 |
Past Due More Than 90 days and Accruing | 124 | 0 |
Total consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 112,275 | 113,960 |
Total consumer | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 41,274 | 46,648 |
Past due loans receivable | 371 | 281 |
Current | 20 | |
Total Loans | 41,274 | 46,648 |
Past Due More Than 90 days and Accruing | 0 | 196 |
Total consumer | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 71,001 | 67,312 |
Past due loans receivable | 700 | 100 |
Current | 70,301 | 67,212 |
Total Loans | 71,001 | 67,312 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total consumer | Home equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 100,458 | 103,189 |
Total consumer | Home equity | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 40,135 | 45,291 |
Past due loans receivable | 371 | 264 |
Current | 20 | |
Total Loans | 40,135 | 45,291 |
Past Due More Than 90 days and Accruing | 0 | 7 |
Total consumer | Home equity | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 60,323 | 57,898 |
Past due loans receivable | 674 | 72 |
Current | 59,649 | 57,826 |
Total Loans | 60,323 | 57,898 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Total consumer | Other consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 11,817 | 10,771 |
Total consumer | Other consumer | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,139 | 1,357 |
Past due loans receivable | 0 | 17 |
Current | 0 | |
Total Loans | 1,139 | 1,357 |
Past Due More Than 90 days and Accruing | 0 | 189 |
Total consumer | Other consumer | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 10,678 | 9,414 |
Past due loans receivable | 26 | 28 |
Current | 10,652 | 9,386 |
Total Loans | 10,678 | 9,414 |
Past Due More Than 90 days and Accruing | 0 | 0 |
30-59 Days Past Due | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 2,234 | 4,414 |
30-59 Days Past Due | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 2,808 | 5,260 |
30-59 Days Past Due | Total commercial real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 810 | 631 |
30-59 Days Past Due | Total commercial real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,031 | 1,146 |
30-59 Days Past Due | Total commercial real estate | Construction and land development | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
30-59 Days Past Due | Total commercial real estate | Construction and land development | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 73 | 0 |
30-59 Days Past Due | Total commercial real estate | Other commercial real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 810 | 631 |
30-59 Days Past Due | Total commercial real estate | Other commercial real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 958 | 1,146 |
30-59 Days Past Due | Total commercial and industrial | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 98 | 149 |
30-59 Days Past Due | Total commercial and industrial | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 311 | 460 |
30-59 Days Past Due | Total commercial and industrial | Commercial | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 98 | 149 |
30-59 Days Past Due | Total commercial and industrial | Commercial | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 144 | 395 |
30-59 Days Past Due | Total commercial and industrial | Agricultural | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
30-59 Days Past Due | Total commercial and industrial | Agricultural | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 167 | 65 |
30-59 Days Past Due | Total commercial and industrial | Tax exempt | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
30-59 Days Past Due | Total commercial and industrial | Tax exempt | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
30-59 Days Past Due | Total commercial loans | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 908 | 780 |
30-59 Days Past Due | Total commercial loans | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,342 | 1,606 |
30-59 Days Past Due | Total residential real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,014 | 3,419 |
30-59 Days Past Due | Total residential real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,194 | 3,565 |
30-59 Days Past Due | Total residential real estate | Residential mortgages | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,014 | 3,419 |
30-59 Days Past Due | Total residential real estate | Residential mortgages | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,194 | 3,565 |
30-59 Days Past Due | Total consumer | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 312 | 215 |
30-59 Days Past Due | Total consumer | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 272 | 89 |
30-59 Days Past Due | Total consumer | Home equity | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 312 | 198 |
30-59 Days Past Due | Total consumer | Home equity | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 253 | 72 |
30-59 Days Past Due | Total consumer | Other consumer | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 17 |
30-59 Days Past Due | Total consumer | Other consumer | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 19 | 17 |
60-89 Days Past Due | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 877 | 379 |
60-89 Days Past Due | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,528 | 707 |
60-89 Days Past Due | Total commercial real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 63 | 99 |
60-89 Days Past Due | Total commercial real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 831 | 0 |
60-89 Days Past Due | Total commercial real estate | Construction and land development | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
60-89 Days Past Due | Total commercial real estate | Construction and land development | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
60-89 Days Past Due | Total commercial real estate | Other commercial real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 63 | 99 |
60-89 Days Past Due | Total commercial real estate | Other commercial real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 831 | 0 |
60-89 Days Past Due | Total commercial and industrial | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 36 | 26 |
60-89 Days Past Due | Total commercial and industrial | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 385 | 66 |
60-89 Days Past Due | Total commercial and industrial | Commercial | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 36 | 26 |
60-89 Days Past Due | Total commercial and industrial | Commercial | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 385 | 60 |
60-89 Days Past Due | Total commercial and industrial | Agricultural | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
60-89 Days Past Due | Total commercial and industrial | Agricultural | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 6 |
60-89 Days Past Due | Total commercial and industrial | Tax exempt | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
60-89 Days Past Due | Total commercial and industrial | Tax exempt | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
60-89 Days Past Due | Total commercial loans | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 99 | 125 |
60-89 Days Past Due | Total commercial loans | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,216 | 66 |
60-89 Days Past Due | Total residential real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 735 | 254 |
60-89 Days Past Due | Total residential real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 233 | 641 |
60-89 Days Past Due | Total residential real estate | Residential mortgages | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 735 | 254 |
60-89 Days Past Due | Total residential real estate | Residential mortgages | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 233 | 641 |
60-89 Days Past Due | Total consumer | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 43 | 0 |
60-89 Days Past Due | Total consumer | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 79 | 0 |
60-89 Days Past Due | Total consumer | Home equity | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 43 | 0 |
60-89 Days Past Due | Total consumer | Home equity | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 72 | 0 |
60-89 Days Past Due | Total consumer | Other consumer | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
60-89 Days Past Due | Total consumer | Other consumer | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 7 | 0 |
90 Days or Greater Past Due | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,291 | 2,563 |
90 Days or Greater Past Due | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 7,974 | 8,472 |
90 Days or Greater Past Due | Total commercial real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 258 | 211 |
90 Days or Greater Past Due | Total commercial real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 5,256 | 6,725 |
90 Days or Greater Past Due | Total commercial real estate | Construction and land development | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
90 Days or Greater Past Due | Total commercial real estate | Construction and land development | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
90 Days or Greater Past Due | Total commercial real estate | Other commercial real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 258 | 211 |
90 Days or Greater Past Due | Total commercial real estate | Other commercial real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 5,256 | 6,725 |
90 Days or Greater Past Due | Total commercial and industrial | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 455 | 494 |
90 Days or Greater Past Due | Total commercial and industrial | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 625 | 427 |
90 Days or Greater Past Due | Total commercial and industrial | Commercial | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 455 | 494 |
90 Days or Greater Past Due | Total commercial and industrial | Commercial | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 600 | 402 |
90 Days or Greater Past Due | Total commercial and industrial | Agricultural | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
90 Days or Greater Past Due | Total commercial and industrial | Agricultural | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 25 | 25 |
90 Days or Greater Past Due | Total commercial and industrial | Tax exempt | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
90 Days or Greater Past Due | Total commercial and industrial | Tax exempt | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
90 Days or Greater Past Due | Total commercial loans | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 713 | 705 |
90 Days or Greater Past Due | Total commercial loans | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 5,881 | 7,152 |
90 Days or Greater Past Due | Total residential real estate | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 562 | 1,792 |
90 Days or Greater Past Due | Total residential real estate | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,744 | 1,309 |
90 Days or Greater Past Due | Total residential real estate | Residential mortgages | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 562 | 1,792 |
90 Days or Greater Past Due | Total residential real estate | Residential mortgages | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 1,744 | 1,309 |
90 Days or Greater Past Due | Total consumer | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 16 | 66 |
90 Days or Greater Past Due | Total consumer | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 349 | 11 |
90 Days or Greater Past Due | Total consumer | Home equity | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 16 | 66 |
90 Days or Greater Past Due | Total consumer | Home equity | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 349 | 0 |
90 Days or Greater Past Due | Total consumer | Other consumer | Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | 0 | 0 |
90 Days or Greater Past Due | Total consumer | Other consumer | Business Activities Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past due loans receivable | $ 0 | $ 11 |
LOANS - Narrative (Details)
LOANS - Narrative (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019USD ($)modification | Jun. 30, 2019USD ($)modification | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 2,578,238 | $ 2,578,238 | $ 2,490,227 | |
Borrower's sustained repayment performance period | 6 months | |||
Number of modifications which subsequently defaulted | modification | 0 | 0 | ||
Residential mortgages | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Foreclosed property | $ 2,400 | $ 2,400 | ||
Total residential loans included in held for sale loans | 3,500 | 3,500 | $ 168 | |
Residential mortgages | Mortgages | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Process of foreclosure | 886 | $ 1,500 | ||
Acquired Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 792,991 | 792,991 | 859,330 | |
Acquired credit impaired | 10,100 | 10,100 | ||
Certain loans acquired in transfer not accounted for as debt securities, note balance, net | 13,500 | 13,500 | ||
Financing receivable not considered impaired at time of acquisition | 782,900 | 782,900 | ||
Acquired Loans | Residential mortgages | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 436,316 | $ 436,316 | $ 474,509 |
LOANS - Accretable Yield Activi
LOANS - Accretable Yield Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 4,150 | $ 3,347 | $ 4,377 | $ 3,509 |
Reclassification from non-accretable difference for loans with improved (decreased) cash flows | 402 | (153) | 624 | 46 |
Accretion | (357) | (387) | (806) | (748) |
Balance at end of period | $ 4,195 | $ 2,807 | $ 4,195 | $ 2,807 |
LOANS - Summary of Past Due Loa
LOANS - Summary of Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Past Due [Line Items] | ||
Total loans | $ 2,578,238 | $ 2,490,227 |
Business Activities Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 12,310 | 14,439 |
Current | 1,772,937 | 1,616,458 |
Total loans | 1,785,247 | 1,630,897 |
Past Due More Than 90 days and Accruing | 124 | 50 |
Business Activities Loans | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,808 | 5,260 |
Business Activities Loans | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,528 | 707 |
Business Activities Loans | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 7,974 | 8,472 |
Business Activities Loans | Total commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 7,118 | 7,871 |
Current | 642,149 | 571,863 |
Total loans | 649,267 | 579,734 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Business Activities Loans | Total commercial real estate | Construction and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 73 | 0 |
Current | 33,451 | 23,754 |
Total loans | 33,524 | 23,754 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Business Activities Loans | Total commercial real estate | Other commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 7,045 | 7,871 |
Current | 608,698 | 548,109 |
Total loans | 615,743 | 555,980 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Business Activities Loans | Total commercial real estate | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,031 | 1,146 |
Business Activities Loans | Total commercial real estate | 30-59 Days Past Due | Construction and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 73 | 0 |
Business Activities Loans | Total commercial real estate | 30-59 Days Past Due | Other commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 958 | 1,146 |
Business Activities Loans | Total commercial real estate | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 831 | 0 |
Business Activities Loans | Total commercial real estate | 60-89 Days Past Due | Construction and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Business Activities Loans | Total commercial real estate | 60-89 Days Past Due | Other commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 831 | 0 |
Business Activities Loans | Total commercial real estate | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 5,256 | 6,725 |
Business Activities Loans | Total commercial real estate | 90 Days or Greater Past Due | Construction and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Business Activities Loans | Total commercial real estate | 90 Days or Greater Past Due | Other commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 5,256 | 6,725 |
Business Activities Loans | Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,321 | 953 |
Current | 332,215 | 312,709 |
Total loans | 333,536 | 313,662 |
Past Due More Than 90 days and Accruing | 0 | 50 |
Business Activities Loans | Commercial and industrial | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,129 | 857 |
Current | 243,386 | 233,900 |
Total loans | 244,515 | 234,757 |
Past Due More Than 90 days and Accruing | 0 | 50 |
Business Activities Loans | Commercial and industrial | Agricultural | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 192 | 96 |
Current | 21,455 | 22,221 |
Total loans | 21,647 | 22,317 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Business Activities Loans | Commercial and industrial | Tax exempt | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 67,374 | 56,588 |
Total loans | 67,374 | 56,588 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Business Activities Loans | Commercial and industrial | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 311 | 460 |
Business Activities Loans | Commercial and industrial | 30-59 Days Past Due | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 144 | 395 |
Business Activities Loans | Commercial and industrial | 30-59 Days Past Due | Agricultural | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 167 | 65 |
Business Activities Loans | Commercial and industrial | 30-59 Days Past Due | Tax exempt | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Business Activities Loans | Commercial and industrial | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 385 | 66 |
Business Activities Loans | Commercial and industrial | 60-89 Days Past Due | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 385 | 60 |
Business Activities Loans | Commercial and industrial | 60-89 Days Past Due | Agricultural | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 6 |
Business Activities Loans | Commercial and industrial | 60-89 Days Past Due | Tax exempt | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Business Activities Loans | Commercial and industrial | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 625 | 427 |
Business Activities Loans | Commercial and industrial | 90 Days or Greater Past Due | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 600 | 402 |
Business Activities Loans | Commercial and industrial | 90 Days or Greater Past Due | Agricultural | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 25 | 25 |
Business Activities Loans | Commercial and industrial | 90 Days or Greater Past Due | Tax exempt | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Business Activities Loans | Total commercial loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 8,439 | 8,824 |
Current | 974,364 | 884,572 |
Total loans | 982,803 | 893,396 |
Past Due More Than 90 days and Accruing | 0 | 50 |
Business Activities Loans | Total commercial loans | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,342 | 1,606 |
Business Activities Loans | Total commercial loans | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,216 | 66 |
Business Activities Loans | Total commercial loans | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 5,881 | 7,152 |
Business Activities Loans | Residential mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,171 | 5,515 |
Current | 728,272 | 664,674 |
Total loans | 731,443 | 670,189 |
Past Due More Than 90 days and Accruing | 124 | 0 |
Business Activities Loans | Residential mortgages | Residential mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,171 | 5,515 |
Current | 728,272 | 664,674 |
Total loans | 731,443 | 670,189 |
Past Due More Than 90 days and Accruing | 124 | 0 |
Business Activities Loans | Residential mortgages | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,194 | 3,565 |
Business Activities Loans | Residential mortgages | 30-59 Days Past Due | Residential mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,194 | 3,565 |
Business Activities Loans | Residential mortgages | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 233 | 641 |
Business Activities Loans | Residential mortgages | 60-89 Days Past Due | Residential mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 233 | 641 |
Business Activities Loans | Residential mortgages | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,744 | 1,309 |
Business Activities Loans | Residential mortgages | 90 Days or Greater Past Due | Residential mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,744 | 1,309 |
Business Activities Loans | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 700 | 100 |
Current | 70,301 | 67,212 |
Total loans | 71,001 | 67,312 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Business Activities Loans | Consumer | Home equity | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 674 | 72 |
Current | 59,649 | 57,826 |
Total loans | 60,323 | 57,898 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Business Activities Loans | Consumer | Other consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 26 | 28 |
Current | 10,652 | 9,386 |
Total loans | 10,678 | 9,414 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Business Activities Loans | Consumer | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 272 | 89 |
Business Activities Loans | Consumer | 30-59 Days Past Due | Home equity | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 253 | 72 |
Business Activities Loans | Consumer | 30-59 Days Past Due | Other consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 19 | 17 |
Business Activities Loans | Consumer | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 79 | 0 |
Business Activities Loans | Consumer | 60-89 Days Past Due | Home equity | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 72 | 0 |
Business Activities Loans | Consumer | 60-89 Days Past Due | Other consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 7 | 0 |
Business Activities Loans | Consumer | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 349 | 11 |
Business Activities Loans | Consumer | 90 Days or Greater Past Due | Home equity | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 349 | 0 |
Business Activities Loans | Consumer | 90 Days or Greater Past Due | Other consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 11 |
Acquired Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 4,402 | 7,356 |
Current | 10,071 | |
Acquired Credit Impaired | 10,106 | |
Total loans | 792,991 | 859,330 |
Past Due More Than 90 days and Accruing | 0 | 196 |
Acquired Loans | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,234 | 4,414 |
Acquired Loans | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 877 | 379 |
Acquired Loans | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,291 | 2,563 |
Acquired Loans | Total commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,131 | 941 |
Current | 6,390 | |
Acquired Credit Impaired | 6,307 | |
Total loans | 232,212 | 246,965 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Acquired Loans | Total commercial real estate | Construction and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 181 | |
Acquired Credit Impaired | 164 | |
Total loans | 2,858 | 2,890 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Acquired Loans | Total commercial real estate | Other commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,131 | 941 |
Current | 6,209 | |
Acquired Credit Impaired | 6,143 | |
Total loans | 229,354 | 244,075 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Acquired Loans | Total commercial real estate | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 810 | 631 |
Acquired Loans | Total commercial real estate | 30-59 Days Past Due | Construction and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Total commercial real estate | 30-59 Days Past Due | Other commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 810 | 631 |
Acquired Loans | Total commercial real estate | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 63 | 99 |
Acquired Loans | Total commercial real estate | 60-89 Days Past Due | Construction and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Total commercial real estate | 60-89 Days Past Due | Other commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 63 | 99 |
Acquired Loans | Total commercial real estate | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 258 | 211 |
Acquired Loans | Total commercial real estate | 90 Days or Greater Past Due | Construction and land development | ||
Financing Receivable, 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, Past Due [Line Items] | ||
Total Past Due | 258 | 211 |
Acquired Loans | Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 589 | 669 |
Current | 509 | |
Acquired Credit Impaired | 679 | |
Total loans | 83,189 | 91,208 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Acquired Loans | Commercial and industrial | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 589 | 669 |
Current | 509 | |
Acquired Credit Impaired | 679 | |
Total loans | 45,867 | 52,470 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Acquired Loans | Commercial and industrial | Agricultural | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 0 | |
Acquired Credit Impaired | 0 | |
Total loans | 0 | 0 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Acquired Loans | Commercial and industrial | Tax exempt | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 0 | |
Acquired Credit Impaired | 0 | |
Total loans | 37,322 | 38,738 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Acquired Loans | Commercial and industrial | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 98 | 149 |
Acquired Loans | Commercial and industrial | 30-59 Days Past Due | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 98 | 149 |
Acquired Loans | Commercial and industrial | 30-59 Days Past Due | Agricultural | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial and industrial | 30-59 Days Past Due | Tax exempt | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial and industrial | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 36 | 26 |
Acquired Loans | Commercial and industrial | 60-89 Days Past Due | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 36 | 26 |
Acquired Loans | Commercial and industrial | 60-89 Days Past Due | Agricultural | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial and industrial | 60-89 Days Past Due | Tax exempt | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial and industrial | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 455 | 494 |
Acquired Loans | Commercial and industrial | 90 Days or Greater Past Due | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 455 | 494 |
Acquired Loans | Commercial and industrial | 90 Days or Greater Past Due | Agricultural | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial and industrial | 90 Days or Greater Past Due | Tax exempt | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Total commercial loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,720 | 1,610 |
Current | 6,899 | |
Acquired Credit Impaired | 6,986 | |
Total loans | 315,401 | 338,173 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Acquired Loans | Total commercial loans | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 908 | 780 |
Acquired Loans | Total commercial loans | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 99 | 125 |
Acquired Loans | Total commercial loans | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 713 | 705 |
Acquired Loans | Residential mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,311 | 5,465 |
Current | 3,152 | |
Acquired Credit Impaired | 3,095 | |
Total loans | 436,316 | 474,509 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Acquired Loans | Residential mortgages | Residential mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,311 | 5,465 |
Current | 3,152 | |
Acquired Credit Impaired | 3,095 | |
Total loans | 436,316 | 474,509 |
Past Due More Than 90 days and Accruing | 0 | 0 |
Acquired Loans | Residential mortgages | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,014 | 3,419 |
Acquired Loans | Residential mortgages | 30-59 Days Past Due | Residential mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,014 | 3,419 |
Acquired Loans | Residential mortgages | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 735 | 254 |
Acquired Loans | Residential mortgages | 60-89 Days Past Due | Residential mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 735 | 254 |
Acquired Loans | Residential mortgages | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 562 | 1,792 |
Acquired Loans | Residential mortgages | 90 Days or Greater Past Due | Residential mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 562 | 1,792 |
Acquired Loans | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 371 | 281 |
Current | 20 | |
Acquired Credit Impaired | 25 | |
Total loans | 41,274 | 46,648 |
Past Due More Than 90 days and Accruing | 0 | 196 |
Acquired Loans | Consumer | Home equity | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 371 | 264 |
Current | 20 | |
Acquired Credit Impaired | 22 | |
Total loans | 40,135 | 45,291 |
Past Due More Than 90 days and Accruing | 0 | 7 |
Acquired Loans | Consumer | Other consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 17 |
Current | 0 | |
Acquired Credit Impaired | 3 | |
Total loans | 1,139 | 1,357 |
Past Due More Than 90 days and Accruing | 0 | 189 |
Acquired Loans | Consumer | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 312 | 215 |
Acquired Loans | Consumer | 30-59 Days Past Due | Home equity | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 312 | 198 |
Acquired Loans | Consumer | 30-59 Days Past Due | Other consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 17 |
Acquired Loans | Consumer | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 43 | 0 |
Acquired Loans | Consumer | 60-89 Days Past Due | Home equity | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 43 | 0 |
Acquired Loans | Consumer | 60-89 Days Past Due | Other consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Acquired Loans | Consumer | 90 Days or Greater Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 16 | 66 |
Acquired Loans | Consumer | 90 Days or Greater Past Due | Home equity | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 16 | 66 |
Acquired Loans | Consumer | 90 Days or Greater Past Due | Other consumer | ||
Financing Receivable, 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 | Jun. 30, 2019 | Dec. 31, 2018 |
Non-accrual loans | ||
Non-accrual loans | $ 15,955 | $ 18,235 |
Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 12,886 | 14,111 |
Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 3,069 | 4,124 |
Total commercial real estate | ||
Non-accrual loans | ||
Non-accrual loans | 7,048 | 8,156 |
Total commercial real estate | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 6,699 | 7,874 |
Total commercial real estate | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 349 | 282 |
Total commercial real estate | Construction and land development | ||
Non-accrual loans | ||
Non-accrual loans | 1 | 1 |
Total commercial real estate | Construction and land development | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 1 | 1 |
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 | 7,047 | 8,155 |
Total commercial real estate | Other commercial real estate | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 6,698 | 7,873 |
Total commercial real estate | Other commercial real estate | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 349 | 282 |
Commercial and industrial | ||
Non-accrual loans | ||
Non-accrual loans | 2,081 | 2,331 |
Commercial and industrial | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 1,497 | 1,688 |
Commercial and industrial | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 584 | 643 |
Commercial and industrial | Commercial | ||
Non-accrual loans | ||
Non-accrual loans | 1,838 | 2,066 |
Commercial and industrial | Commercial | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 1,254 | 1,423 |
Commercial and industrial | Commercial | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 584 | 643 |
Commercial and industrial | Agricultural | ||
Non-accrual loans | ||
Non-accrual loans | 243 | 265 |
Commercial and industrial | Agricultural | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 243 | 265 |
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 | 9,129 | 10,487 |
Total commercial loans | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 8,196 | 9,562 |
Total commercial loans | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 933 | 925 |
Residential mortgages | ||
Non-accrual loans | ||
Non-accrual loans | 5,965 | 7,210 |
Residential mortgages | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 4,023 | 4,213 |
Residential mortgages | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 1,942 | 2,997 |
Residential mortgages | Residential mortgages | ||
Non-accrual loans | ||
Non-accrual loans | 5,965 | 7,210 |
Residential mortgages | Residential mortgages | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 4,023 | 4,213 |
Residential mortgages | Residential mortgages | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 1,942 | 2,997 |
Consumer | ||
Non-accrual loans | ||
Non-accrual loans | 861 | 538 |
Consumer | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 667 | 336 |
Consumer | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 194 | 202 |
Consumer | Home equity | ||
Non-accrual loans | ||
Non-accrual loans | 779 | 447 |
Consumer | Home equity | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 585 | 246 |
Consumer | Home equity | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | 194 | 201 |
Consumer | Other consumer | ||
Non-accrual loans | ||
Non-accrual loans | 82 | 91 |
Consumer | Other consumer | Business Activities Loans | ||
Non-accrual loans | ||
Non-accrual loans | 82 | 90 |
Consumer | Other consumer | Acquired Loans | ||
Non-accrual loans | ||
Non-accrual loans | $ 0 | $ 1 |
LOANS - Loans Evaluated for Imp
LOANS - Loans Evaluated for Impairment (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans receivable: balance at end of period | ||
Total | $ 2,578,238 | $ 2,490,227 |
Commercial real estate | ||
Loans receivable: balance at end of period | ||
Total | 881,479 | 826,699 |
Commercial and industrial | ||
Loans receivable: balance at end of period | ||
Total | 416,725 | 404,870 |
Residential real estate | ||
Loans receivable: balance at end of period | ||
Total | 1,167,759 | 1,144,698 |
Consumer | ||
Loans receivable: balance at end of period | ||
Total | 112,275 | 113,960 |
Business Activities Loans | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 12,804 | 13,855 |
Collectively evaluated | 1,772,443 | 1,617,042 |
Total | 1,785,247 | 1,630,897 |
Business Activities Loans | Commercial real estate | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 8,737 | 9,835 |
Collectively evaluated | 640,530 | 569,899 |
Total | 649,267 | 579,734 |
Business Activities Loans | Commercial and industrial | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 1,385 | 1,445 |
Collectively evaluated | 332,151 | 312,217 |
Total | 333,536 | 313,662 |
Business Activities Loans | Residential real estate | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 2,669 | 2,562 |
Collectively evaluated | 728,774 | 667,627 |
Total | 731,443 | 670,189 |
Business Activities Loans | Consumer | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 13 | 13 |
Collectively evaluated | 70,988 | 67,299 |
Total | 71,001 | 67,312 |
Acquired Loans | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 1,396 | 1,358 |
Purchased credit impaired | 10,071 | 10,106 |
Collectively evaluated | 781,524 | 847,866 |
Total | 792,991 | 859,330 |
Acquired Loans | Commercial real estate | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 258 | 188 |
Purchased credit impaired | 6,390 | 6,307 |
Collectively evaluated | 225,564 | 240,470 |
Total | 232,212 | 246,965 |
Acquired Loans | Commercial and industrial | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 417 | 426 |
Purchased credit impaired | 509 | 679 |
Collectively evaluated | 82,263 | 90,103 |
Total | 83,189 | 91,208 |
Acquired Loans | Residential real estate | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 721 | 744 |
Purchased credit impaired | 3,152 | 3,095 |
Collectively evaluated | 432,443 | 470,670 |
Total | 436,316 | 474,509 |
Acquired Loans | Consumer | ||
Loans receivable: balance at end of period | ||
Individually evaluated for impairment | 0 | 0 |
Purchased credit impaired | 20 | 25 |
Collectively evaluated | 41,254 | 46,623 |
Total | $ 41,274 | $ 46,648 |
LOANS - Summary of Impaired Loa
LOANS - Summary of Impaired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Business Activities Loans | ||
Recorded Investment | ||
Total | $ 12,804 | $ 13,855 |
Unpaid Principal Balance | ||
Total | 13,211 | 14,124 |
Related Allowance | ||
With an allowance recorded: | 564 | 611 |
Business Activities Loans | Total commercial real estate | ||
Recorded Investment | ||
Total | 8,737 | 9,835 |
Unpaid Principal Balance | ||
Total | 8,885 | 9,962 |
Related Allowance | ||
With an allowance recorded: | 449 | 422 |
Business Activities Loans | Total commercial real estate | Construction and land development | ||
Recorded Investment | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 1 | 1 |
Unpaid Principal Balance | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 1 | 1 |
Related Allowance | ||
With an allowance recorded: | 1 | 1 |
Business Activities Loans | Total commercial real estate | Other commercial real estate | ||
Recorded Investment | ||
With no related allowance: | 7,502 | 8,209 |
With an allowance recorded: | 1,234 | 1,625 |
Unpaid Principal Balance | ||
With no related allowance: | 7,552 | 8,301 |
With an allowance recorded: | 1,332 | 1,660 |
Related Allowance | ||
With an allowance recorded: | 448 | 421 |
Business Activities Loans | Commercial and industrial | ||
Recorded Investment | ||
Total | 1,385 | 1,445 |
Unpaid Principal Balance | ||
Total | 1,470 | 1,524 |
Related Allowance | ||
With an allowance recorded: | 39 | 78 |
Business Activities Loans | Commercial and industrial | Commercial | ||
Recorded Investment | ||
With no related allowance: | 975 | 649 |
With an allowance recorded: | 410 | 796 |
Unpaid Principal Balance | ||
With no related allowance: | 1,032 | 669 |
With an allowance recorded: | 438 | 855 |
Related Allowance | ||
With an allowance recorded: | 39 | 78 |
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 mortgages | ||
Recorded Investment | ||
Total | 2,669 | 2,562 |
Unpaid Principal Balance | ||
Total | 2,843 | 2,625 |
Related Allowance | ||
With an allowance recorded: | 75 | 111 |
Business Activities Loans | Residential mortgages | Residential mortgages | ||
Recorded Investment | ||
With no related allowance: | 2,099 | 1,671 |
With an allowance recorded: | 570 | 891 |
Unpaid Principal Balance | ||
With no related allowance: | 2,246 | 1,709 |
With an allowance recorded: | 597 | 916 |
Related Allowance | ||
With an allowance recorded: | 75 | 111 |
Business Activities Loans | Consumer | ||
Recorded Investment | ||
Total | 13 | 13 |
Unpaid Principal Balance | ||
Total | 13 | 13 |
Related Allowance | ||
With an allowance recorded: | 1 | 0 |
Business Activities Loans | Consumer | Home equity | ||
Recorded Investment | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 13 | 13 |
Unpaid Principal Balance | ||
With no related allowance: | 0 | 0 |
With an allowance recorded: | 13 | 13 |
Related Allowance | ||
With an allowance recorded: | 1 | 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 | 1,396 | 1,358 |
Unpaid Principal Balance | ||
Total | 1,658 | 1,600 |
Related Allowance | ||
With an allowance recorded: | 47 | 41 |
Acquired Loans | Total commercial real estate | ||
Recorded Investment | ||
Total | 258 | 188 |
Unpaid Principal Balance | ||
Total | 258 | 187 |
Related Allowance | ||
With an allowance recorded: | 12 | 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: | 188 | 188 |
With an allowance recorded: | 70 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 187 | 187 |
With an allowance recorded: | 71 | 0 |
Related Allowance | ||
With an allowance recorded: | 12 | 0 |
Acquired Loans | Commercial and industrial | ||
Recorded Investment | ||
Total | 417 | 426 |
Unpaid Principal Balance | ||
Total | 505 | 510 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Commercial and industrial | Commercial | ||
Recorded Investment | ||
With no related allowance: | 417 | 426 |
With an allowance recorded: | 0 | 0 |
Unpaid Principal Balance | ||
With no related allowance: | 505 | 510 |
With an allowance recorded: | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 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 mortgages | ||
Recorded Investment | ||
Total | 721 | 744 |
Unpaid Principal Balance | ||
Total | 895 | 903 |
Related Allowance | ||
With an allowance recorded: | 35 | 41 |
Acquired Loans | Residential mortgages | Residential mortgages | ||
Recorded Investment | ||
With no related allowance: | 361 | 375 |
With an allowance recorded: | 360 | 369 |
Unpaid Principal Balance | ||
With no related allowance: | 518 | 524 |
With an allowance recorded: | 377 | 379 |
Related Allowance | ||
With an allowance recorded: | 35 | 41 |
Acquired Loans | Consumer | ||
Recorded Investment | ||
Total | 0 | 0 |
Unpaid Principal Balance | ||
Total | 0 | 0 |
Related Allowance | ||
With an allowance recorded: | 0 | 0 |
Acquired Loans | Consumer | Home equity | ||
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 | 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 | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Business Activities Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Recorded Investment | $ 12,937 | $ 14,519 | $ 12,727 | $ 13,811 |
Interest Income Recognized | 41 | 23 | 85 | 44 |
Business Activities Loans | Commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Recorded Investment | 8,896 | 7,847 | 8,719 | 7,437 |
Interest Income Recognized | 20 | 9 | 46 | 15 |
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 | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 1 | 0 | 3 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 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 | 7,499 | 6,519 | 7,219 | 6,364 |
Cash basis interest income recognized, with no related allowance | 20 | 9 | 46 | 15 |
Recorded investment, with related allowance | 1,396 | 1,328 | 1,497 | 1,073 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 0 | 0 |
Business Activities Loans | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Recorded Investment | 1,352 | 1,514 | 1,348 | 1,327 |
Interest Income Recognized | 2 | 3 | 3 | 5 |
Business Activities Loans | Commercial and industrial | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment, with no related allowance | 940 | 731 | 931 | 680 |
Cash basis interest income recognized, with no related allowance | 2 | 3 | 3 | 5 |
Recorded investment, with related allowance | 412 | 783 | 417 | 647 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 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 | 0 | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 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 | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 0 | 0 |
Business Activities Loans | Residential real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Recorded Investment | 2,676 | 4,855 | 2,647 | 4,759 |
Interest Income Recognized | 19 | 11 | 36 | 24 |
Business Activities Loans | Residential real estate | Residential mortgages | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment, with no related allowance | 2,104 | 4,057 | 2,113 | 4,063 |
Cash basis interest income recognized, with no related allowance | 16 | 9 | 31 | 19 |
Recorded investment, with related allowance | 572 | 798 | 534 | 696 |
Cash basis interest income recognized, with related allowance | 3 | 2 | 5 | 5 |
Business Activities Loans | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Recorded Investment | 13 | 303 | 13 | 288 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Business Activities Loans | Consumer | Home equity | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment, with no related allowance | 0 | 303 | 0 | 288 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 13 | 0 | 13 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 0 | 0 |
Business Activities Loans | Consumer | Other consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment, with no related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 0 | 0 |
Acquired Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Recorded Investment | 1,459 | 755 | 1,435 | 709 |
Interest Income Recognized | 0 | 1 | 0 | 2 |
Acquired Loans | Commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Recorded Investment | 258 | 230 | 193 | 230 |
Interest Income Recognized | 0 | 0 | 0 | 1 |
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 | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 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 | 187 | 230 | 157 | 230 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 1 |
Recorded investment, with related allowance | 71 | 0 | 36 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 0 | 0 |
Acquired Loans | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Recorded Investment | 412 | 432 | 446 | 432 |
Interest Income Recognized | 0 | 1 | 0 | 1 |
Acquired Loans | Commercial and industrial | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment, with no related allowance | 412 | 49 | 446 | 49 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 0 | 383 | 0 | 383 |
Cash basis interest income recognized, with related allowance | 0 | 1 | 0 | 1 |
Acquired Loans | Commercial and industrial | Agricultural | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment, with no related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 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 | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 0 | 0 |
Acquired Loans | Residential real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Recorded Investment | 789 | 93 | 796 | 47 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Acquired Loans | Residential real estate | Residential mortgages | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment, with no related allowance | 426 | 93 | 431 | 47 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 363 | 0 | 365 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 0 | 0 |
Acquired Loans | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Acquired Loans | Consumer | Home equity | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment, with no related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with related allowance | 0 | 0 | 0 | 0 |
Acquired Loans | Consumer | Other consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average recorded investment, with no related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with no related allowance | 0 | 0 | 0 | 0 |
Recorded investment, with related allowance | 0 | 0 | 0 | 0 |
Cash basis interest income recognized, with related allowance | $ 0 | $ 0 | $ 0 | $ 0 |
LOANS - Recorded Investment and
LOANS - Recorded Investment and Number of Modifications (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($)modification | Jun. 30, 2018USD ($)modification | Jun. 30, 2019USD ($)modification | Jun. 30, 2018USD ($)modification | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 5 | 14 | 16 | 25 |
Pre-Modification Outstanding Recorded Investment | $ 350 | $ 2,836 | $ 1,024 | $ 4,594 |
Post-Modification Outstanding Recorded Investment | $ 305 | $ 2,554 | $ 977 | $ 3,597 |
Interest rate and maturity concession | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 0 | 1 | ||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 17 | ||
Interest only payments and maturity concession | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 1 | 0 | 2 | 0 |
Post-Modification Outstanding Recorded Investment | $ 70 | $ 0 | $ 75 | $ 0 |
Amortization and maturity concession | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 4 | 0 | ||
Post-Modification Outstanding Recorded Investment | $ 275 | $ 0 | ||
Forbearance | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 0 | 2 | 1 | 2 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 158 | $ 77 | $ 158 |
Forbearance and interest only payments | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 2 | 0 | 4 | 3 |
Post-Modification Outstanding Recorded Investment | $ 131 | $ 0 | $ 243 | $ 51 |
Forbearance and maturity concession | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 1 | 7 | 4 | 12 |
Post-Modification Outstanding Recorded Investment | $ 46 | $ 779 | $ 249 | $ 1,331 |
Maturity concession | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 0 | 1 | ||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 423 | ||
Restructure with maturity concession | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 0 | 4 | 0 | 4 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 1,334 | $ 0 | $ 1,334 |
Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 1 | 1 | 1 | 2 |
Post-Modification Outstanding Recorded Investment | $ 58 | $ 283 | $ 58 | $ 283 |
Total commercial real estate | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 2 | 5 | 5 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 186 | $ 1,641 | $ 299 | $ 1,674 |
Post-Modification Outstanding Recorded Investment | $ 177 | $ 1,390 | $ 290 | $ 1,409 |
Commercial and industrial | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 1 | 3 | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 12 | $ 43 | $ 452 | |
Post-Modification Outstanding Recorded Investment | $ 12 | $ 43 | $ 437 | |
Commercial and industrial | Agricultural | ||||
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 mortgages | Residential mortgages | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 2 | 7 | 8 | 12 |
Pre-Modification Outstanding Recorded Investment | $ 152 | $ 1,091 | $ 682 | $ 2,196 |
Post-Modification Outstanding Recorded Investment | $ 116 | $ 1,060 | $ 644 | $ 1,646 |
Consumer | Home equity | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 100 | $ 100 | ||
Post-Modification Outstanding Recorded Investment | $ 100 | $ 100 | ||
Consumer | Other consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of Modifications (in modification) | modification | 1 | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 4 | $ 5 | ||
Post-Modification Outstanding Recorded Investment | $ 4 | $ 5 |
ALLOWANCE FOR LOAN LOSSES - All
ALLOWANCE FOR LOAN LOSSES - Allowance Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | $ 13,866 | |||||
Provision (releases) for loan losses | $ 562 | $ 770 | 886 | $ 1,565 | ||
Balance at end of period | 14,572 | 14,572 | ||||
Allowance For Loan Losses | ||||||
Total | 14,572 | 13,866 | $ 14,572 | |||
Business Activities Loans | ||||||
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | 13,702 | 12,414 | 13,581 | 12,153 | ||
Charged-off loans | (35) | (399) | (145) | (653) | ||
Recoveries on charged-off loans | 117 | 52 | 155 | 72 | ||
Provision (releases) for loan losses | 506 | 656 | 699 | 1,151 | ||
Balance at end of period | 14,290 | 12,723 | 14,290 | 12,723 | ||
Allowance For Loan Losses | ||||||
Individually evaluated for impairment | 564 | $ 796 | ||||
Collectively evaluated | 13,726 | 11,927 | ||||
Total | 13,702 | 12,414 | 13,581 | 12,153 | 14,290 | 12,723 |
Business Activities Loans | Commercial real estate | ||||||
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | 6,575 | 5,998 | 6,811 | 6,037 | ||
Charged-off loans | 0 | (156) | (57) | (156) | ||
Recoveries on charged-off loans | 114 | 46 | 130 | 61 | ||
Provision (releases) for loan losses | 517 | 479 | 322 | 425 | ||
Balance at end of period | 7,206 | 6,367 | 7,206 | 6,367 | ||
Allowance For Loan Losses | ||||||
Individually evaluated for impairment | 449 | 682 | ||||
Collectively evaluated | 6,757 | 5,685 | ||||
Total | 6,575 | 5,998 | 6,811 | 6,037 | 7,206 | 6,367 |
Business Activities Loans | Commercial and industrial | ||||||
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | 2,778 | 2,612 | 2,380 | 2,373 | ||
Charged-off loans | (13) | (27) | (13) | (111) | ||
Recoveries on charged-off loans | 1 | 4 | 1 | 6 | ||
Provision (releases) for loan losses | (18) | (80) | 380 | 241 | ||
Balance at end of period | 2,748 | 2,509 | 2,748 | 2,509 | ||
Allowance For Loan Losses | ||||||
Individually evaluated for impairment | 39 | 34 | ||||
Collectively evaluated | 2,709 | 2,475 | ||||
Total | 2,778 | 2,612 | 2,380 | 2,373 | 2,748 | 2,509 |
Business Activities Loans | Residential real estate | ||||||
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | 3,953 | 3,304 | 3,982 | 3,357 | ||
Charged-off loans | 0 | 0 | 0 | 0 | ||
Recoveries on charged-off loans | 0 | 0 | 18 | 1 | ||
Provision (releases) for loan losses | (11) | 150 | (58) | 96 | ||
Balance at end of period | 3,942 | 3,454 | 3,942 | 3,454 | ||
Allowance For Loan Losses | ||||||
Individually evaluated for impairment | 75 | 80 | ||||
Collectively evaluated | 3,867 | 3,374 | ||||
Total | 3,953 | 3,304 | 3,982 | 3,357 | 3,942 | 3,454 |
Business Activities Loans | Consumer | ||||||
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | 396 | 500 | 408 | 386 | ||
Charged-off loans | (22) | (216) | (75) | (386) | ||
Recoveries on charged-off loans | 2 | 2 | 6 | 4 | ||
Provision (releases) for loan losses | 18 | 107 | 55 | 389 | ||
Balance at end of period | 394 | 393 | 394 | 393 | ||
Allowance For Loan Losses | ||||||
Individually evaluated for impairment | 1 | 0 | ||||
Collectively evaluated | 393 | 393 | ||||
Total | 396 | 500 | 408 | 386 | 394 | 393 |
Acquired Loans | ||||||
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | 295 | 265 | 285 | 172 | ||
Charged-off loans | (69) | (118) | (190) | (325) | ||
Recoveries on charged-off loans | 0 | 106 | 0 | 106 | ||
Provision (releases) for loan losses | 56 | 114 | 187 | 414 | ||
Balance at end of period | 282 | 367 | 282 | 367 | ||
Allowance For Loan Losses | ||||||
Individually evaluated for impairment | 47 | 77 | ||||
Collectively evaluated | 235 | 290 | ||||
Total | 295 | 265 | 285 | 172 | 282 | 367 |
Acquired Loans | Commercial real estate | ||||||
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | 161 | 83 | 173 | 97 | ||
Charged-off loans | 0 | 0 | 0 | (106) | ||
Recoveries on charged-off loans | 0 | 18 | 0 | 18 | ||
Provision (releases) for loan losses | (2) | 99 | (14) | 191 | ||
Balance at end of period | 159 | 200 | 159 | 200 | ||
Allowance For Loan Losses | ||||||
Individually evaluated for impairment | 12 | 0 | ||||
Collectively evaluated | 147 | 200 | ||||
Total | 161 | 83 | 173 | 97 | 159 | 200 |
Acquired Loans | Commercial and industrial | ||||||
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | 29 | 124 | 35 | 16 | ||
Charged-off loans | 0 | (37) | (15) | (95) | ||
Recoveries on charged-off loans | 0 | 6 | 0 | 6 | ||
Provision (releases) for loan losses | (7) | (11) | 2 | 155 | ||
Balance at end of period | 22 | 82 | 22 | 82 | ||
Allowance For Loan Losses | ||||||
Individually evaluated for impairment | 0 | 77 | ||||
Collectively evaluated | 22 | 5 | ||||
Total | 29 | 124 | 35 | 16 | 22 | 82 |
Acquired Loans | Residential real estate | ||||||
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | 105 | 58 | 77 | 59 | ||
Charged-off loans | (65) | (64) | (170) | (64) | ||
Recoveries on charged-off loans | 0 | 0 | 0 | 0 | ||
Provision (releases) for loan losses | 61 | 91 | 194 | 90 | ||
Balance at end of period | 101 | 85 | 101 | 85 | ||
Allowance For Loan Losses | ||||||
Individually evaluated for impairment | 35 | 0 | ||||
Collectively evaluated | 66 | 85 | ||||
Total | 105 | 58 | 77 | 59 | 101 | 85 |
Acquired Loans | Consumer | ||||||
Activity in the allowance for loan losses | ||||||
Balance at beginning of period | 0 | 0 | 0 | 0 | ||
Charged-off loans | (4) | (17) | (5) | (60) | ||
Recoveries on charged-off loans | 0 | 82 | 0 | 82 | ||
Provision (releases) for loan losses | 4 | (65) | 5 | (22) | ||
Balance at end of period | 0 | 0 | 0 | 0 | ||
Allowance For Loan Losses | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated | 0 | 0 | ||||
Total | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
ALLOWANCE FOR LOAN LOSSES - Loa
ALLOWANCE FOR LOAN LOSSES - Loans by Credit Risk Rating (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Credit quality information | ||
Loans | $ 2,578,238 | $ 2,490,227 |
Special mention | ||
Credit quality information | ||
Loans | 33,685 | 21,736 |
Substandard | ||
Credit quality information | ||
Loans | 20,200 | 15,797 |
Doubtful | ||
Credit quality information | ||
Loans | 0 | 0 |
Non-accrual | ||
Credit quality information | ||
Loans | 15,955 | 18,235 |
Total classified | ||
Credit quality information | ||
Loans | 36,155 | 34,032 |
Total Criticized | ||
Credit quality information | ||
Loans | 69,840 | 55,768 |
Business Activities Loans | ||
Credit quality information | ||
Loans | 1,785,247 | 1,630,897 |
Business Activities Loans | Commercial real estate | ||
Credit quality information | ||
Loans | 649,267 | 579,734 |
Business Activities Loans | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Loans | 33,524 | 23,754 |
Business Activities Loans | Commercial real estate | Commercial real estate other | ||
Credit quality information | ||
Loans | 615,743 | 555,980 |
Business Activities Loans | Commercial and industrial | ||
Credit quality information | ||
Loans | 333,536 | 313,662 |
Business Activities Loans | Commercial and industrial | Commercial | ||
Credit quality information | ||
Loans | 244,515 | 234,757 |
Business Activities Loans | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Loans | 21,647 | 22,317 |
Business Activities Loans | Commercial and industrial | Tax exempt loans | ||
Credit quality information | ||
Loans | 67,374 | 56,588 |
Business Activities Loans | Residential mortgages | ||
Credit quality information | ||
Loans | 731,443 | 670,189 |
Business Activities Loans | Residential mortgages | Residential real estate | ||
Credit quality information | ||
Loans | 731,443 | 670,189 |
Business Activities Loans | Total residential real estate and consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 802,444 | 737,501 |
Business Activities Loans | Total residential real estate and consumer | Residential real estate | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 731,443 | 670,189 |
Business Activities Loans | Total residential real estate and consumer | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 60,323 | 57,898 |
Business Activities Loans | Total residential real estate and consumer | Other consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 10,678 | 9,414 |
Business Activities Loans | Consumer | ||
Credit quality information | ||
Loans | 71,001 | 67,312 |
Business Activities Loans | Consumer | Home equity | ||
Credit quality information | ||
Loans | 60,323 | 57,898 |
Business Activities Loans | Consumer | Other consumer | ||
Credit quality information | ||
Loans | 10,678 | 9,414 |
Business Activities Loans | Performing | Total residential real estate and consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 797,754 | 732,952 |
Business Activities Loans | Performing | Total residential real estate and consumer | Residential real estate | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 727,420 | 665,976 |
Business Activities Loans | Performing | Total residential real estate and consumer | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 59,738 | 57,652 |
Business Activities Loans | Performing | Total residential real estate and consumer | Other consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 10,596 | 9,324 |
Business Activities Loans | Nonperforming | Total residential real estate and consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 4,690 | 4,549 |
Business Activities Loans | Nonperforming | Total residential real estate and consumer | Residential real estate | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 4,023 | 4,213 |
Business Activities Loans | Nonperforming | Total residential real estate and consumer | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 585 | 246 |
Business Activities Loans | Nonperforming | Total residential real estate and consumer | Other consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 82 | 90 |
Business Activities Loans | Pass | Commercial real estate | ||
Credit quality information | ||
Loans | 623,376 | 556,066 |
Business Activities Loans | Pass | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Loans | 33,450 | 23,680 |
Business Activities Loans | Pass | Commercial real estate | Commercial real estate other | ||
Credit quality information | ||
Loans | 589,926 | 532,386 |
Business Activities Loans | Pass | Commercial and industrial | ||
Credit quality information | ||
Loans | 313,530 | 304,621 |
Business Activities Loans | Pass | Commercial and industrial | Commercial | ||
Credit quality information | ||
Loans | 225,251 | 226,353 |
Business Activities Loans | Pass | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Loans | 20,905 | 21,680 |
Business Activities Loans | Pass | Commercial and industrial | Tax exempt loans | ||
Credit quality information | ||
Loans | 67,374 | 56,588 |
Business Activities Loans | Special mention | ||
Credit quality information | ||
Loans | 25,902 | 15,337 |
Business Activities Loans | Special mention | Commercial real estate | ||
Credit quality information | ||
Loans | 12,032 | 8,392 |
Business Activities Loans | Special mention | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Loans | 73 | 73 |
Business Activities Loans | Special mention | Commercial real estate | Commercial real estate other | ||
Credit quality information | ||
Loans | 11,959 | 8,319 |
Business Activities Loans | Special mention | Commercial and industrial | ||
Credit quality information | ||
Loans | 13,870 | 6,945 |
Business Activities Loans | Special mention | Commercial and industrial | Commercial | ||
Credit quality information | ||
Loans | 13,512 | 6,730 |
Business Activities Loans | Special mention | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Loans | 358 | 215 |
Business Activities Loans | Special mention | Commercial and industrial | Tax exempt loans | ||
Credit quality information | ||
Loans | 0 | 0 |
Business Activities Loans | Substandard | ||
Credit quality information | ||
Loans | 11,799 | 7,810 |
Business Activities Loans | Substandard | Commercial real estate | ||
Credit quality information | ||
Loans | 12,337 | 13,914 |
Business Activities Loans | Substandard | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Loans | 0 | 0 |
Business Activities Loans | Substandard | Commercial real estate | Commercial real estate other | ||
Credit quality information | ||
Loans | 12,337 | 13,914 |
Business Activities Loans | Substandard | Commercial and industrial | ||
Credit quality information | ||
Loans | 5,421 | 1,346 |
Business Activities Loans | Substandard | Commercial and industrial | Commercial | ||
Credit quality information | ||
Loans | 5,037 | 924 |
Business Activities Loans | Substandard | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Loans | 384 | 422 |
Business Activities Loans | Substandard | Commercial and industrial | Tax exempt loans | ||
Credit quality information | ||
Loans | 0 | 0 |
Business Activities Loans | Doubtful | ||
Credit quality information | ||
Loans | 0 | 0 |
Business Activities Loans | Doubtful | Commercial real estate | ||
Credit quality information | ||
Loans | 1,522 | 1,362 |
Business Activities Loans | Doubtful | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Loans | 1 | 1 |
Business Activities Loans | Doubtful | Commercial real estate | Commercial real estate other | ||
Credit quality information | ||
Loans | 1,521 | 1,361 |
Business Activities Loans | Doubtful | Commercial and industrial | ||
Credit quality information | ||
Loans | 715 | 750 |
Business Activities Loans | Doubtful | Commercial and industrial | Commercial | ||
Credit quality information | ||
Loans | 715 | 750 |
Business Activities Loans | Doubtful | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Loans | 0 | 0 |
Business Activities Loans | Doubtful | Commercial and industrial | Tax exempt loans | ||
Credit quality information | ||
Loans | 0 | 0 |
Business Activities Loans | Non-accrual | ||
Credit quality information | ||
Loans | 12,886 | 14,111 |
Business Activities Loans | Total classified | ||
Credit quality information | ||
Loans | 24,685 | 21,921 |
Business Activities Loans | Total Criticized | ||
Credit quality information | ||
Loans | 50,587 | 37,258 |
Acquired Loans | ||
Credit quality information | ||
Loans | 792,991 | 859,330 |
Acquired Loans | Commercial real estate | ||
Credit quality information | ||
Loans | 232,212 | 246,965 |
Acquired Loans | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Loans | 2,858 | 2,890 |
Acquired Loans | Commercial real estate | Commercial real estate other | ||
Credit quality information | ||
Loans | 229,354 | 244,075 |
Acquired Loans | Commercial and industrial | ||
Credit quality information | ||
Loans | 83,189 | 91,208 |
Acquired Loans | Commercial and industrial | Commercial | ||
Credit quality information | ||
Loans | 45,867 | 52,470 |
Acquired Loans | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Commercial and industrial | Tax exempt loans | ||
Credit quality information | ||
Loans | 37,322 | 38,738 |
Acquired Loans | Residential mortgages | ||
Credit quality information | ||
Loans | 436,316 | 474,509 |
Acquired Loans | Residential mortgages | Residential real estate | ||
Credit quality information | ||
Loans | 436,316 | 474,509 |
Acquired Loans | Total residential real estate and consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 477,590 | 521,157 |
Acquired Loans | Total residential real estate and consumer | Residential real estate | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 436,316 | 474,509 |
Acquired Loans | Total residential real estate and consumer | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 40,135 | 45,291 |
Acquired Loans | Total residential real estate and consumer | Other consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 1,139 | 1,357 |
Acquired Loans | Consumer | ||
Credit quality information | ||
Loans | 41,274 | 46,648 |
Acquired Loans | Consumer | Home equity | ||
Credit quality information | ||
Loans | 40,135 | 45,291 |
Acquired Loans | Consumer | Other consumer | ||
Credit quality information | ||
Loans | 1,139 | 1,357 |
Acquired Loans | Performing | Total residential real estate and consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 474,324 | 516,943 |
Acquired Loans | Performing | Total residential real estate and consumer | Residential real estate | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 433,244 | 470,497 |
Acquired Loans | Performing | Total residential real estate and consumer | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 39,941 | 45,090 |
Acquired Loans | Performing | Total residential real estate and consumer | Other consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 1,139 | 1,356 |
Acquired Loans | Nonperforming | Total residential real estate and consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 3,266 | 4,214 |
Acquired Loans | Nonperforming | Total residential real estate and consumer | Residential real estate | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 3,072 | 4,012 |
Acquired Loans | Nonperforming | Total residential real estate and consumer | Home equity | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 194 | 201 |
Acquired Loans | Nonperforming | Total residential real estate and consumer | Other consumer | ||
Credit quality information | ||
Total Performing and Nonperforming Loans | 0 | 1 |
Acquired Loans | Pass | Commercial real estate | ||
Credit quality information | ||
Loans | 223,538 | 239,019 |
Acquired Loans | Pass | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Loans | 2,579 | 2,626 |
Acquired Loans | Pass | Commercial real estate | Commercial real estate other | ||
Credit quality information | ||
Loans | 220,959 | 236,393 |
Acquired Loans | Pass | Commercial and industrial | ||
Credit quality information | ||
Loans | 75,876 | 84,858 |
Acquired Loans | Pass | Commercial and industrial | Commercial | ||
Credit quality information | ||
Loans | 38,554 | 46,120 |
Acquired Loans | Pass | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Pass | Commercial and industrial | Tax exempt loans | ||
Credit quality information | ||
Loans | 37,322 | 38,738 |
Acquired Loans | Special mention | ||
Credit quality information | ||
Loans | 7,783 | 6,399 |
Acquired Loans | Special mention | Commercial real estate | ||
Credit quality information | ||
Loans | 1,964 | 1,574 |
Acquired Loans | Special mention | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Special mention | Commercial real estate | Commercial real estate other | ||
Credit quality information | ||
Loans | 1,964 | 1,574 |
Acquired Loans | Special mention | Commercial and industrial | ||
Credit quality information | ||
Loans | 5,819 | 4,825 |
Acquired Loans | Special mention | Commercial and industrial | Commercial | ||
Credit quality information | ||
Loans | 5,819 | 4,825 |
Acquired Loans | Special mention | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Special mention | Commercial and industrial | Tax exempt loans | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Substandard | ||
Credit quality information | ||
Loans | 8,401 | 7,987 |
Acquired Loans | Substandard | Commercial real estate | ||
Credit quality information | ||
Loans | 6,542 | 6,273 |
Acquired Loans | Substandard | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Loans | 279 | 264 |
Acquired Loans | Substandard | Commercial real estate | Commercial real estate other | ||
Credit quality information | ||
Loans | 6,263 | 6,009 |
Acquired Loans | Substandard | Commercial and industrial | ||
Credit quality information | ||
Loans | 1,153 | 1,222 |
Acquired Loans | Substandard | Commercial and industrial | Commercial | ||
Credit quality information | ||
Loans | 1,153 | 1,222 |
Acquired Loans | Substandard | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Substandard | Commercial and industrial | Tax exempt loans | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Doubtful | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Doubtful | Commercial real estate | ||
Credit quality information | ||
Loans | 168 | 99 |
Acquired Loans | Doubtful | Commercial real estate | Construction and land development | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Doubtful | Commercial real estate | Commercial real estate other | ||
Credit quality information | ||
Loans | 168 | 99 |
Acquired Loans | Doubtful | Commercial and industrial | ||
Credit quality information | ||
Loans | 341 | 303 |
Acquired Loans | Doubtful | Commercial and industrial | Commercial | ||
Credit quality information | ||
Loans | 341 | 303 |
Acquired Loans | Doubtful | Commercial and industrial | Agricultural | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Doubtful | Commercial and industrial | Tax exempt loans | ||
Credit quality information | ||
Loans | 0 | 0 |
Acquired Loans | Non-accrual | ||
Credit quality information | ||
Loans | 3,069 | 4,124 |
Acquired Loans | Total classified | ||
Credit quality information | ||
Loans | 11,470 | 12,111 |
Acquired Loans | Total Criticized | ||
Credit quality information | ||
Loans | $ 19,253 | $ 18,510 |
BORROWED FUNDS - Summary of Bor
BORROWED FUNDS - Summary of Borrowed Funds (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Short-term borrowings | ||
Carrying Value | $ 586,108 | $ 647,894 |
Weighted Average Rate | 2.37% | 2.39% |
Long-term borrowings | ||
Carrying Value | $ 189,919 | $ 75,902 |
Weighted Average Rate | 3.12% | 3.99% |
Total borrowings | $ 776,027 | $ 723,796 |
Weighted Average Rate | 2.55% | 2.56% |
Advances from the FHLB | ||
Short-term borrowings | ||
Carrying Value | $ 549,168 | $ 611,683 |
Weighted Average Rate | 2.42% | 2.47% |
Long-term borrowings | ||
Carrying Value | $ 146,976 | $ 32,929 |
Weighted Average Rate | 2.32% | 1.86% |
Other borrowings | ||
Short-term borrowings | ||
Carrying Value | $ 36,940 | $ 36,211 |
Weighted Average Rate | 1.48% | 1.09% |
Subordinated borrowings | ||
Long-term borrowings | ||
Carrying Value | $ 37,943 | $ 37,973 |
Weighted Average Rate | 5.84% | 5.58% |
Junior subordinated borrowings | ||
Long-term borrowings | ||
Carrying Value | $ 5,000 | $ 5,000 |
Weighted Average Rate | 5.99% | 5.96% |
BORROWED FUNDS - Narrative (Det
BORROWED FUNDS - Narrative (Details) - USD ($) | Mar. 30, 2014 | Apr. 30, 2008 | Jun. 30, 2019 | Dec. 31, 2018 | Oct. 29, 2014 |
Debt Instrument [Line Items] | |||||
Short-term debt | $ 586,108,000 | $ 647,894,000 | |||
Advances outstanding | 189,919,000 | 75,902,000 | |||
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 | 549,168,000 | 611,683,000 | |||
Advances outstanding | 146,976,000 | 32,929,000 | |||
Federal Reserve Bank Advances | |||||
Debt Instrument [Line Items] | |||||
Secured line of credit maintained | 112,940,000 | ||||
Short-term debt | 0 | 0 | |||
Federal Reserve Bank Advances | Unsecured Debt | |||||
Debt Instrument [Line Items] | |||||
Secured line of credit maintained | 50,000,000 | 50,000,000 | |||
Line of Credit Facility, Fair Value of Amount Outstanding | 0 | 0 | |||
Federal Home Loan Bank Certificates and Obligations FHLB Callable Advances | |||||
Debt Instrument [Line Items] | |||||
Advances outstanding | 0 | 0 | |||
Federal Home Loan Bank Certificates and Obligations FHLB Amortizing Advances | |||||
Debt Instrument [Line Items] | |||||
Advances outstanding | 330,000 | 330,000 | |||
Subordinated borrowings | |||||
Debt Instrument [Line Items] | |||||
Advances outstanding | $ 37,943,000 | $ 37,973,000 | |||
Maturity period | 15 years | ||||
Principal amount of debt issued | $ 5,000,000 | ||||
Earliest callable period without penalties | 5 years | ||||
Effective interest rate | 5.86% | 6.24% | |||
Subordinated borrowings | LIBOR | |||||
Debt Instrument [Line Items] | |||||
Interest rate margin | 3.45% |
BORROWED FUNDS - Summary of Mat
BORROWED FUNDS - Summary of Maturities of FHLB (Details) - Fixed rate advances $ in Thousands | Jun. 30, 2019USD ($) |
Carrying Value | |
2019 | $ 524,195 |
2020 | 54,973 |
2021 | 1,655 |
2022 | 114,000 |
2023 | 1,000 |
2024 and thereafter | 321 |
Total FHLB advances | $ 696,144 |
Weighted Average Rate | |
2019 | 2.46% |
2020 | 2.12% |
2021 | 1.90% |
2022 | 2.31% |
2023 | 0.00% |
2024 and thereafter | 2.52% |
Total FHLB advances | 2.40% |
DEPOSITS - Schedule of Time Dep
DEPOSITS - Schedule of Time Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Deposits [Abstract] | ||
Time less than $100,000 | $ 694,523 | $ 622,478 |
Time $100,000 through $250,000 | 166,211 | 193,535 |
Time $250,000 or more | 135,778 | 116,780 |
Total time deposits | $ 996,512 | $ 932,793 |
DEPOSITS - Maturities by Year (
DEPOSITS - Maturities by Year (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Deposits [Abstract] | ||
Within 1 year | $ 557,749 | $ 505,313 |
Over 1 year to 2 years | 332,976 | 258,176 |
Over 2 years to 3 years | 62,246 | 123,337 |
Over 3 years to 4 years | 20,508 | 14,494 |
Over 4 years to 5 years | 22,773 | 31,353 |
Over 5 years | 260 | 120 |
Total time deposits | $ 996,512 | $ 932,793 |
DEPOSITS - Narrative (Details)
DEPOSITS - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Deposits [Abstract] | ||
Brokered time deposits | $ 599 | $ 466.9 |
Reciprocal deposits | $ 56.3 | $ 52.4 |
CAPITAL RATIOS AND SHAREHOLDE_3
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY - Actual and Required Capital Ratios (Details) | Jun. 30, 2019 | Dec. 31, 2018 |
Tier 1 capital to risk-weighted assets | ||
Total capital to risk-weighted assets | 13.93% | 14.23% |
Common equity tier 1 capital to risk-weighted assets | 11.57% | 11.80% |
Tier 1 capital to risk-weighted assets | 12.42% | 12.68% |
Tier 1 capital to average assets | 8.57% | 8.53% |
Bank | ||
Tier 1 capital to risk-weighted assets | ||
Total capital to risk-weighted assets | 13.42% | 13.82% |
Common equity tier 1 capital to risk-weighted assets | 12.60% | 12.99% |
Tier 1 capital to risk-weighted assets | 12.60% | 12.99% |
Tier 1 capital to average assets | 8.69% | 8.74% |
Regulatory minimum to be well capitalized, Total capital to risk weighted assets | 10.00% | 10.00% |
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 SHAREHOLDE_4
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY - Components of AOCI (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss) | $ 877 | $ (11,802) |
Net unrealized gain (loss) on AFS securities | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other accumulated comprehensive income (loss), before tax: | 7,242 | (11,304) |
Income taxes related to items of accumulated other comprehensive (income) loss: | (1,693) | 2,641 |
Net unrealized loss on effective cash flow hedging derivatives | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other accumulated comprehensive income (loss), before tax: | (4,936) | |
Income taxes related to items of accumulated other comprehensive (income) loss: | 1,154 | |
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) | |
Income taxes related to items of accumulated other comprehensive (income) loss: | 685 | |
Net unrealized loss on post-retirement plans | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other accumulated comprehensive income (loss), before tax: | (1,162) | (1,162) |
Income taxes related to items of accumulated other comprehensive (income) loss: | $ 272 | $ 272 |
CAPITAL RATIOS AND SHAREHOLDE_5
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY - Components of OCI (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net unrealized gain (loss) arising during the period | ||||||
Net of Tax | $ 6,505 | $ (2,184) | $ 12,679 | $ (9,813) | ||
Less: reclassification adjustment for gains (losses) realized in net income | ||||||
Net of Tax | 0 | 0 | 0 | 0 | ||
Other comprehensive income (loss) | ||||||
Before Tax | 8,489 | (2,861) | 16,544 | (12,868) | ||
Tax Effect | (1,984) | 677 | (3,865) | 3,055 | ||
Total other comprehensive income (loss) | 6,505 | $ 6,174 | (2,184) | $ (7,629) | 12,679 | (9,813) |
Net unrealized gain (loss) on AFS securities | ||||||
Net unrealized gain (loss) arising during the period | ||||||
Before Tax | 9,646 | (3,087) | 18,546 | (13,789) | ||
Tax Effect | (2,255) | 731 | (4,334) | 3,274 | ||
Net of Tax | 7,391 | (2,356) | 14,212 | (10,515) | ||
Less: reclassification adjustment for gains (losses) realized in net income | ||||||
Before Tax | 0 | 0 | 0 | 0 | ||
Tax Effect | 0 | 0 | 0 | 0 | ||
Net of Tax | 0 | 0 | 0 | 0 | ||
Other comprehensive income (loss) | ||||||
Before Tax | 9,646 | (3,087) | 18,546 | (13,789) | ||
Tax Effect | (2,255) | 731 | (4,334) | 3,274 | ||
Total other comprehensive income (loss) | 7,391 | (2,356) | 14,212 | (10,515) | ||
Net unrealized loss on effective cash flow hedging derivatives | ||||||
Net unrealized gain (loss) arising during the period | ||||||
Before Tax | (1,157) | (2,002) | ||||
Tax Effect | 271 | 469 | ||||
Net of Tax | (886) | (1,533) | ||||
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 | (1,157) | (2,002) | ||||
Tax Effect | 271 | 469 | ||||
Total other comprehensive income (loss) | (886) | (1,533) | ||||
Net unrealized loss on effective cash flow hedging derivatives | ||||||
Net unrealized gain (loss) arising during the period | ||||||
Before Tax | 226 | 880 | ||||
Tax Effect | (54) | (209) | ||||
Net of Tax | 172 | 671 | ||||
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 | 226 | 880 | ||||
Tax Effect | (54) | (209) | ||||
Total other comprehensive income (loss) | 172 | 671 | ||||
Net unrealized loss on post-retirement plans | ||||||
Net unrealized gain (loss) arising during the period | ||||||
Before Tax | 0 | 0 | 0 | 41 | ||
Tax Effect | 0 | 0 | 0 | (10) | ||
Net of Tax | 0 | 0 | 0 | 31 | ||
Less: reclassification adjustment for gains (losses) realized in net income | ||||||
Before Tax | 0 | 0 | 0 | 0 | ||
Tax Effect | 0 | 0 | 0 | 0 | ||
Net of Tax | 0 | 0 | 0 | 0 | ||
Other comprehensive income (loss) | ||||||
Before Tax | 0 | 0 | 0 | 41 | ||
Tax Effect | 0 | 0 | 0 | (10) | ||
Total other comprehensive income (loss) | $ 0 | $ 0 | $ 0 | $ 31 |
CAPITAL RATIOS AND SHAREHOLDE_6
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY - Changes in AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance at beginning of period | $ 381,023 | $ 370,579 | $ 352,150 | $ 354,641 | $ 370,579 | $ 354,641 |
Other comprehensive gain (loss) before reclassifications | 6,505 | (2,184) | 12,679 | (9,813) | ||
Less: amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 | ||
Total other comprehensive income (loss) | 6,505 | 6,174 | (2,184) | (7,629) | 12,679 | (9,813) |
Balance at end of period | 390,562 | 381,023 | 355,963 | 352,150 | 390,562 | 355,963 |
Net unrealized gain (loss) on AFS securities | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance at beginning of period | (1,844) | (8,665) | (10,239) | (1,713) | (8,665) | (1,713) |
Other comprehensive gain (loss) before reclassifications | 7,391 | (2,356) | 14,212 | (10,515) | ||
Less: amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 | ||
Total other comprehensive income (loss) | 7,391 | (2,356) | 14,212 | (10,515) | ||
Balance at end of period | 5,547 | (1,844) | (12,595) | (10,239) | 5,547 | (12,595) |
Net unrealized loss on effective cash flow hedging derivatives | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance at beginning of period | (2,896) | (2,249) | (2,249) | |||
Other comprehensive gain (loss) before reclassifications | (886) | (1,533) | ||||
Less: amounts reclassified from accumulated other comprehensive income | 0 | 0 | ||||
Total other comprehensive income (loss) | (886) | (1,533) | ||||
Balance at end of period | (3,782) | (2,896) | (3,782) | |||
Net unrealized loss on effective cash flow hedging derivatives | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance at beginning of period | (2,236) | (2,250) | (2,250) | |||
Other comprehensive gain (loss) before reclassifications | 172 | 671 | ||||
Less: amounts reclassified from accumulated other comprehensive income | 0 | 0 | ||||
Total other comprehensive income (loss) | 172 | 671 | ||||
Balance at end of period | (2,064) | (2,236) | (2,064) | |||
Net unrealized loss on post-retirement plans | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance at beginning of period | (888) | (888) | (688) | (591) | (888) | (591) |
Other comprehensive gain (loss) before reclassifications | 0 | 0 | 0 | 31 | ||
Less: amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 | ||
Total other comprehensive income (loss) | 0 | 0 | 0 | 31 | ||
Balance at end of period | (888) | (888) | (688) | (688) | (888) | (688) |
Accumulated other comprehensive (loss) income | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance at beginning of period | (5,628) | (11,802) | (13,163) | (4,554) | (11,802) | (4,554) |
Total other comprehensive income (loss) | 6,505 | 6,174 | (2,184) | (7,629) | ||
Balance at end of period | $ 877 | $ (5,628) | $ (15,347) | $ (13,163) | $ 877 | (15,347) |
Accounting Standards Update 2018-02 | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Less: amounts reclassified from accumulated other comprehensive income | (980) | |||||
Accounting Standards Update 2018-02 | Net unrealized gain (loss) on AFS securities | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Less: amounts reclassified from accumulated other comprehensive income | (367) | |||||
Accounting Standards Update 2018-02 | Net unrealized loss on effective cash flow hedging derivatives | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Less: amounts reclassified from accumulated other comprehensive income | (485) | |||||
Accounting Standards Update 2018-02 | Net unrealized loss on post-retirement plans | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Less: amounts reclassified from accumulated other comprehensive income | $ (128) |
EARNINGS PER SHARE (Details)
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings Per Share [Abstract] | ||||||
Net income | $ 6,117 | $ 7,281 | $ 8,535 | $ 7,812 | $ 13,398 | $ 16,347 |
Average number of basic common shares outstanding (in shares) | 15,538,282 | 15,482,188 | 15,530,893 | 15,465,357 | ||
Plus: dilutive effect of stock options and awards outstanding (in shares) | 47,299 | 89,263 | 51,340 | 94,614 | ||
Average number of diluted common shares outstanding (in shares) | 15,585,581 | 15,571,451 | 15,582,233 | 15,559,971 | ||
Anti-dilutive options excluded from earnings calculation (in shares) | 0 | 3,173 | 0 | 19,488 | ||
Earnings per share: | ||||||
Basic (in dollars per share) | $ 0.39 | $ 0.55 | $ 0.86 | $ 1.06 | ||
Diluted (in dollars per share) | $ 0.39 | $ 0.55 | $ 0.86 | $ 1.05 |
DERIVATIVE FINANCIAL INSTRUME_3
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Mar. 31, 2019 | |
Interest rate swap agreements and non-hedging derivative assets and liabilities | ||||||
Notional Amount | $ 412,133 | $ 412,133 | $ 182,239 | |||
Estimated Fair Value Asset (Liability) | (1,495) | (1,495) | 811 | |||
Designated as hedging instrument | Cash flow hedges: | ||||||
Interest rate swap agreements and non-hedging derivative assets and liabilities | ||||||
Notional Amount | 140,000 | 140,000 | $ 90,000 | |||
Weighted Average Maturity (in years) | ||||||
Estimated Fair Value Asset (Liability) | (1,536) | (1,536) | $ 803 | |||
Designated as hedging instrument | Cash flow hedges: | Interest rate cap agreements | ||||||
Interest rate swap agreements and non-hedging derivative assets and liabilities | ||||||
Notional Amount | 90,000 | $ 90,000 | $ 90,000 | |||
Weighted Average Maturity (in years) | 3 years 7 months 6 days | 4 years 1 month 6 days | ||||
Estimated Fair Value Asset (Liability) | 174 | $ 174 | $ 803 | |||
Realized gains (losses) | (174) | $ (122) | (337) | $ (230) | ||
Designated as hedging instrument | Cash flow hedges: | Interest rate swap on deposits | ||||||
Interest rate swap agreements and non-hedging derivative assets and liabilities | ||||||
Notional Amount | 50,000 | $ 50,000 | $ 50,000 | |||
Weighted Average Maturity (in years) | 4 years 9 months 18 days | |||||
Estimated Fair Value Asset (Liability) | (1,710) | $ (1,710) | ||||
Designated as hedging instrument | Economic hedges: | ||||||
Interest rate swap agreements and non-hedging derivative assets and liabilities | ||||||
Notional Amount | 3,561 | 3,561 | ||||
Estimated Fair Value Asset (Liability) | (30) | (30) | ||||
Designated as hedging instrument | Economic hedges: | Forward sale commitments | ||||||
Interest rate swap agreements and non-hedging derivative assets and liabilities | ||||||
Notional Amount | 3,561 | $ 3,561 | ||||
Weighted Average Maturity (in years) | 1 month 6 days | |||||
Estimated Fair Value Asset (Liability) | (30) | $ (30) | ||||
Realized gains (losses) | 35 | (23) | (30) | 147 | ||
Not designated as hedging instrument | ||||||
Interest rate swap agreements and non-hedging derivative assets and liabilities | ||||||
Notional Amount | 268,572 | 268,572 | 92,239 | |||
Estimated Fair Value Asset (Liability) | 71 | 71 | 8 | |||
Not designated as hedging instrument | Interest rate lock commitments | ||||||
Interest rate swap agreements and non-hedging derivative assets and liabilities | ||||||
Notional Amount | 8,082 | $ 8,082 | $ 957 | |||
Weighted Average Maturity (in years) | 1 month 6 days | 1 month 6 days | ||||
Estimated Fair Value Asset (Liability) | 71 | $ 71 | $ 8 | |||
Realized gains (losses) | 57 | $ 1 | 63 | $ 9 | ||
Not designated as hedging instrument | Customer loan derivative liability | ||||||
Interest rate swap agreements and non-hedging derivative assets and liabilities | ||||||
Notional Amount | 130,245 | $ 130,245 | $ 45,641 | |||
Weighted Average Maturity (in years) | 9 years 2 months 12 days | 9 years 10 months 24 days | ||||
Estimated Fair Value Asset (Liability) | (6,887) | $ (6,887) | $ (1,353) | |||
Not designated as hedging instrument | Customer loan derivative asset | ||||||
Interest rate swap agreements and non-hedging derivative assets and liabilities | ||||||
Notional Amount | 130,245 | $ 130,245 | $ 45,641 | |||
Weighted Average Maturity (in years) | 9 years 2 months 12 days | 9 years 10 months 24 days | ||||
Estimated Fair Value Asset (Liability) | $ 6,887 | $ 6,887 | $ 1,353 |
LEASES - Narrative (Details)
LEASES - Narrative (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 |
Leases [Abstract] | ||
Right-of-use asset | $ 8,629 | $ 9,000 |
Lease liability | $ 8,681 | $ 9,000 |
DERIVATIVE FINANCIAL INSTRUME_4
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) - USD ($) $ in Thousands | 1 Months Ended | |||
Mar. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2014 | |
Derivative [Line Items] | ||||
Notional amount of interest rate swap | $ 412,133 | $ 182,239 | ||
Interest rate cap agreements | ||||
Derivative [Line Items] | ||||
Premiums paid | $ 4,600 | |||
Cap interest rate | 3.00% | |||
Effective percentage interest rate, maximum | 3.00% | |||
Interest rate swap on deposits | ||||
Derivative [Line Items] | ||||
Deposit liabilities, collateral issued to counterparty, interest rate swap | 5,700 | |||
Designated as hedging instrument | Cash flow hedges: | ||||
Derivative [Line Items] | ||||
Notional amount of interest rate swap | 140,000 | 90,000 | ||
Designated as hedging instrument | Cash flow hedges: | Interest rate cap agreements | ||||
Derivative [Line Items] | ||||
Notional amount of interest rate swap | 90,000 | $ 90,000 | ||
Designated as hedging instrument | Cash flow hedges: | Interest rate swap on deposits | ||||
Derivative [Line Items] | ||||
Term of interest rate swap | 5 years | |||
Rate of interest rate swap | 2.461% | |||
Notional amount of interest rate swap | $ 50,000 | $ 50,000 |
LEASES - Operating Lease Assets
LEASES - Operating Lease Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 |
Leases [Abstract] | ||
Right-of-use asset | $ 8,629 | $ 9,000 |
Lease liability | $ 8,681 | $ 9,000 |
LEASES - Additional Lease Infor
LEASES - Additional Lease Information (Details) | Jun. 30, 2019 |
Leases [Abstract] | |
Weighted average remaining lease term | 10 years |
Weighted average discount rate | 3.37% |
LEASES - Lease Cost (Details)
LEASES - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Leases [Abstract] | ||
Operating lease cost | $ 233 | $ 464 |
Variable lease cost | 84 | 208 |
Total lease cost | $ 317 | $ 672 |
LEASES - Future Minimum Payment
LEASES - Future Minimum Payments for Leases (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 |
Leases [Abstract] | ||
June 30, 2020 | $ 917 | |
June 30, 2021 | 898 | |
June 30, 2022 | 908 | |
June 30, 2023 | 910 | |
June 30, 2024 | 913 | |
Thereafter | 6,296 | |
Total future minimum lease payments | 10,842 | |
Amounts representing interest | (2,161) | |
Present value of net future minimum lease payments | $ 8,681 | $ 9,000 |
FAIR VALUE MEASUREMENTS - Measu
FAIR VALUE MEASUREMENTS - Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | $ 748,560 | $ 725,837 |
US Government-sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 403,528 | 404,952 |
US Government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 119,985 | 110,512 |
Private label | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 20,161 | 20,382 |
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 | 127,078 | 132,265 |
Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 77,808 | 57,726 |
Total Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 748,560 | 725,837 |
Derivative assets | 7,132 | 2,164 |
Derivative liabilities | (8,627) | (1,353) |
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 | 748,560 | 725,837 |
Derivative assets | 7,061 | 2,156 |
Derivative liabilities | (8,597) | 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 | 71 | 8 |
Derivative liabilities | (30) | (1,353) |
Recurring | Total Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 7,132 | 2,164 |
Derivative liabilities | (8,627) | (1,353) |
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 | 403,528 | 404,952 |
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 | 119,985 | 110,512 |
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 | 20,161 | 20,382 |
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 | 127,078 | 132,265 |
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 | 77,808 | 57,726 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 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] | ||
Derivative assets | 7,061 | 2,156 |
Derivative liabilities | (8,597) | (1,353) |
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 | 403,528 | 404,952 |
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 | 119,985 | 110,512 |
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 | 20,161 | 20,382 |
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 | 127,078 | 132,265 |
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 | 77,808 | 57,726 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 71 | 8 |
Derivative liabilities | (30) | 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) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Interest Rate Lock Commitment | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Beginning balance | $ 14 | $ 8 |
Realized gain recognized in non-interest income | 57 | 63 |
Ending balance | 71 | 71 |
Forward Commitments | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Beginning balance | (65) | 0 |
Realized gain recognized in non-interest income | 35 | (30) |
Ending balance | $ (30) | $ (30) |
FAIR VALUE MEASUREMENTS - Unobs
FAIR VALUE MEASUREMENTS - Unobservable Inputs Recurring (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | ||
Derivative asset (liability), fair value | $ (1,495,000) | $ 811,000 |
Level 3 | Recurring | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | ||
Total | 41,000 | |
Level 3 | Recurring | Interest Rate Lock Commitment | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | ||
Derivative asset (liability), fair value | $ 71,000 | |
Level 3 | Recurring | Interest Rate Lock Commitment | Pricing Model | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | ||
Closing Ratio | 90.00% | |
Origination Costs, per loan | $ 1,700 | |
Level 3 | Recurring | Forward Commitments | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | ||
Derivative asset (liability), fair value | $ (30,000) |
FAIR VALUE MEASUREMENTS - Mea_2
FAIR VALUE MEASUREMENTS - Measured on Non-recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Assets | |||
Other real estate owned | $ 2,351 | $ 2,351 | $ 2,351 |
Non-recurring | Level 3 | |||
Assets | |||
Total | 20,812 | 20,812 | 22,446 |
Total Gains (Losses) | 395 | 1,013 | |
Non-recurring | Level 3 | Impaired loans | |||
Assets | |||
Impaired loans | 14,200 | 14,200 | 15,213 |
Total Gains (Losses) | 395 | 1,013 | |
Non-recurring | Level 3 | Capitalized servicing rights | |||
Assets | |||
Capitalized servicing rights | 4,261 | 4,261 | 4,882 |
Total Gains (Losses) | 0 | 0 | |
Non-recurring | Level 3 | Other real estate owned | |||
Assets | |||
Other real estate owned | 2,351 | 2,351 | $ 2,351 |
Total Gains (Losses) | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS - Uno_2
FAIR VALUE MEASUREMENTS - Unobservable Inputs Non-recurring (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Other real estate owned | $ 2,351 | $ 2,351 | |
Non-recurring | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Total | 20,812 | 22,446 | |
Non-recurring | Fair value of collateral -appraised value | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Impaired loans | 10,818 | 11,676 | |
Other real estate owned | 2,351 | 2,351 | |
Non-recurring | Discount cash flow | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Impaired loans | 3,382 | 3,537 | |
Capitalized servicing rights | 4,261 | 4,882 | |
Non-recurring | Impaired loans | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Impaired loans | $ 14,200 | $ 15,213 | |
Non-recurring | Impaired loans | Minimum | Fair value of collateral -appraised value | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Loss severity | 0.00% | 0.00% | |
Appraised value | $ 0 | $ 0 | |
Non-recurring | Impaired loans | Minimum | Discount cash flow | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Cash flows | 22 | 22 | |
Non-recurring | Impaired loans | Maximum | Fair value of collateral -appraised value | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Appraised value | 6,915 | 6,915 | |
Non-recurring | Impaired loans | Maximum | Discount cash flow | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Cash flows | 1,071 | 1,072 | |
Non-recurring | Capitalized servicing rights | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Capitalized servicing rights | 4,261 | 4,882 | |
Non-recurring | Other real estate owned | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Other real estate owned | 2,351 | $ 2,351 | |
Non-recurring | Other real estate owned | Fair value of collateral -appraised value | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Appraised value | $ 2,700 | $ 2,700 | |
Selling Costs | 12.93% | 12.93% | |
Loss severity | Non-recurring | Impaired loans | Maximum | Fair value of collateral -appraised value | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Loss severity | 65.00% | 55.00% | |
Constant prepayment rate (CPR) | Non-recurring | Capitalized servicing rights | Discount cash flow | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Constant prepayment rate (CPR) | 9.64% | 8.19% | |
Discount rate | Non-recurring | Impaired loans | Minimum | Discount cash flow | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Discount rate | 2.88% | 2.88% | |
Discount rate | Non-recurring | Impaired loans | Maximum | Discount cash flow | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Discount rate | 9.50% | 9.50% | |
Discount rate | Non-recurring | Capitalized servicing rights | Discount cash flow | Level 3 | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items} | |||
Discount rate | 10.08% | 10.08% |
FAIR VALUE MEASUREMENTS - Fair
FAIR VALUE MEASUREMENTS - Fair Values and Carrying Amounts (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financial Assets | ||
Securities available for sale, at fair value | $ 748,560 | $ 725,837 |
Level 1 | ||
Financial Assets | ||
Cash and cash equivalents | 59,860 | 98,754 |
Securities available for sale, at fair value | 0 | 0 |
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 0 | 0 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Interest Receivable | 0 | 0 |
Cash Surrender Value, Fair Value Disclosure | 0 | 0 |
Derivative assets | 0 | 0 |
Financial Liabilities | ||
Total deposits | 0 | 0 |
Other Short-term Borrowings | 0 | 0 |
FHLB 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, at fair value | 748,560 | 725,837 |
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 35,220 | 35,659 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Interest Receivable | 3,586 | 3,533 |
Cash Surrender Value, Fair Value Disclosure | 74,871 | 73,810 |
Derivative assets | 7,061 | 2,156 |
Financial Liabilities | ||
Total deposits | 2,457,385 | 2,404,250 |
Other Short-term Borrowings | 36,939 | 36,171 |
FHLB advances | 696,273 | 643,065 |
Derivative liabilities | (8,597) | 0 |
Level 2 | Senior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 37,943 | 37,973 |
Level 2 | Junior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 4,537 | 3,923 |
Level 3 | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Securities available for sale, at fair value | 0 | 0 |
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 0 | 0 |
Loans Receivable, Fair Value Disclosure | 2,552,387 | 2,415,863 |
Interest Receivable | 0 | 0 |
Cash Surrender Value, Fair Value Disclosure | 0 | 0 |
Derivative assets | 71 | 8 |
Financial Liabilities | ||
Total deposits | 0 | 0 |
Other Short-term Borrowings | 0 | 0 |
FHLB advances | 0 | 0 |
Derivative liabilities | (30) | (1,353) |
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 | 59,860 | 98,754 |
Securities available for sale, at fair value | 748,560 | 725,837 |
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 35,220 | 35,659 |
Loans Receivable, Fair Value Disclosure | 2,563,666 | 2,476,361 |
Interest Receivable | 3,586 | 3,533 |
Cash Surrender Value, Fair Value Disclosure | 74,871 | 73,810 |
Derivative assets | 7,132 | 2,164 |
Financial Liabilities | ||
Total deposits | 2,481,376 | 2,483,238 |
Other Short-term Borrowings | 36,940 | 36,211 |
FHLB advances | 696,144 | 644,611 |
Derivative liabilities | (8,627) | (1,353) |
Carrying Amount | Senior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 37,943 | 37,973 |
Carrying Amount | Junior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 5,000 | 5,000 |
Total Fair Value | ||
Financial Assets | ||
Cash and cash equivalents | 59,860 | 98,754 |
Securities available for sale, at fair value | 748,560 | 725,837 |
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 35,220 | 35,659 |
Loans Receivable, Fair Value Disclosure | 2,552,387 | 2,415,863 |
Interest Receivable | 3,586 | 3,533 |
Cash Surrender Value, Fair Value Disclosure | 74,871 | 73,810 |
Derivative assets | 7,132 | 2,164 |
Financial Liabilities | ||
Total deposits | 2,457,385 | 2,404,250 |
Other Short-term Borrowings | 36,939 | 36,171 |
FHLB advances | 696,273 | 643,065 |
Derivative liabilities | (8,627) | (1,353) |
Total Fair Value | Senior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | 37,943 | 37,973 |
Total Fair Value | Junior subordinated | ||
Financial Liabilities | ||
Subordinated borrowings | $ 4,537 | $ 3,923 |
NON-INTEREST INCOME - Disaggreg
NON-INTEREST INCOME - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 5,684 | $ 5,469 | $ 10,606 | $ 10,655 |
Trust management fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 2,794 | 2,807 | 5,319 | 5,547 |
Financial services fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 272 | 315 | 505 | 536 |
Interchange fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,213 | 1,107 | 2,244 | 2,131 |
Customer deposit fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,026 | 1,019 | 1,933 | 1,998 |
Other customer service fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 379 | $ 221 | $ 605 | $ 443 |
NON-INTEREST INCOME - Timing of
NON-INTEREST INCOME - Timing of Revenue Recognition (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 5,684 | $ 5,469 | $ 10,606 | $ 10,655 |
Products and services transferred at a point in time | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 2,767 | 2,643 | 5,034 | 4,994 |
Products and services transferred over time | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 2,917 | $ 2,826 | $ 5,572 | $ 5,661 |
NON-INTEREST INCOME - Contract
NON-INTEREST INCOME - Contract Balances from Contracts with Customers (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Balances from contracts with customers only: | ||
Other Assets | $ 1,859 | $ 2,866 |
Other Liabilities | $ 4,732 | $ 4,923 |
SUBSEQUENT EVENTS (Details)
SUBSEQUENT EVENTS (Details) $ in Thousands | Jul. 08, 2019USD ($)Branch | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Subsequent Event [Line Items] | ||||
Deposits | $ 2,481,376 | $ 2,483,238 | ||
Loans | $ 2,578,238 | $ 2,490,227 | ||
People's United Bank, National Association | ||||
Subsequent Event [Line Items] | ||||
Deposits | $ 287,000 | |||
Loans | 111,000 | |||
Assets | $ 284,000 | |||
People's United Bank, National Association | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Number of branches to be acquired | Branch | 8 | |||
Expected premium on deposits | 6.30% | |||
Expected premium on annualized wealth management revenue | 1.2 | |||
Approximate value of premises | $ 4,400 | |||
Bar Harbor Bankshares | People's United Bank, National Association | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Number of branches expected to be acquired | Branch | 56 | |||
MAINE | Bar Harbor Bankshares | People's United Bank, National Association | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Number of branches expected to be acquired | Branch | 22 |