Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Jul. 25, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | FMAO | |
Entity Registrant Name | FARMERS & MERCHANTS BANCORP INC | |
Entity Central Index Key | 792,966 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 4,605,534 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 22,895 | $ 21,333 |
Federal funds sold | 484 | 685 |
Total cash and cash equivalents | 23,379 | 22,018 |
Interest-bearing time deposits | 1,960 | |
Securities - available-for-sale | 217,063 | 235,115 |
Other securities, at cost | 3,717 | 3,717 |
Loans, net | 725,198 | 679,821 |
Premises and equipment | 21,295 | 20,587 |
Goodwill | 4,074 | 4,074 |
Mortgage servicing rights | 2,143 | 2,056 |
Other real estate owned | 1,252 | 1,175 |
Other assets | 21,194 | 20,505 |
Total Assets | 1,021,275 | 989,068 |
Deposits | ||
Noninterest-bearing | 170,126 | 171,112 |
Interest-bearing | ||
NOW accounts | 204,924 | 190,890 |
Savings | 236,546 | 225,052 |
Time | 191,250 | 184,285 |
Total deposits | 802,846 | 771,339 |
Federal Funds purchased and securities sold under agreements to repurchase | 75,942 | 78,815 |
Federal Home Loan Bank (FHLB) advances | 10,000 | 10,000 |
Dividend payable | 1,051 | 1,007 |
Accrued expenses and other liabilities | 6,548 | 7,810 |
Total liabilities | 896,387 | 868,971 |
Commitments and Contingencies | ||
Stockholders' Equity | ||
Common shares - no par value - 6,500,000 shares 12/31/15 and 10,000,000 shares 6/30/16 authorized, 5,200,000 shares issued and outstanding | 12,260 | 12,086 |
Treasury Stock - 594,466 shares 2016, 587,466 shares 2015 | (12,583) | (12,389) |
Retained earnings | 123,587 | 120,188 |
Accumulated other comprehensive income | 1,624 | 212 |
Total stockholders' equity | 124,888 | 120,097 |
Total Liabilities and Stockholders' Equity | $ 1,021,275 | $ 989,068 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Common stock, no par value | ||
Common stock, shares authorized | 10,000,000 | 6,500,000 |
Common stock, shares issued | 5,200,000 | 5,200,000 |
Common stock, shares outstanding | 5,200,000 | 5,200,000 |
Treasury Stock, shares | 594,466 | 587,466 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income & Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest Income | ||||
Loans, including fees | $ 8,362 | $ 7,163 | $ 16,368 | $ 14,257 |
Debt securities: | ||||
U.S. Treasury and government agencies | 595 | 620 | 1,175 | 1,216 |
Municipalities | 380 | 458 | 749 | 905 |
Dividends | 37 | 37 | 75 | 74 |
Federal funds sold | 2 | 3 | 2 | 5 |
Other | 11 | 8 | 22 | 16 |
Total interest income | 9,387 | 8,289 | 18,391 | 16,473 |
Interest Expense | ||||
Deposits | 885 | 808 | 1,739 | 1,605 |
Federal funds purchased and securities sold under agreements to repurchase | 126 | 63 | 231 | 124 |
Borrowed funds | 36 | 73 | ||
Total interest expense | 1,047 | 871 | 2,043 | 1,729 |
Net Interest Income - Before Provision for Loan Losses | 8,340 | 7,418 | 16,348 | 14,744 |
Provision for Loan Losses | 339 | 183 | 616 | 297 |
Net Interest Income After Provision For Loan Losses | 8,001 | 7,235 | 15,732 | 14,447 |
Noninterest Income | ||||
Customer service fees | 1,308 | 1,424 | 2,786 | 2,783 |
Other service charges and fees | 999 | 965 | 1,909 | 1,879 |
Net gain on sale of loans | 234 | 173 | 403 | 348 |
Net gain on sale of available for sale securities | 343 | 137 | 456 | 246 |
Total noninterest income | 2,884 | 2,699 | 5,554 | 5,256 |
Noninterest Expense | ||||
Salaries and Wages | 2,840 | 2,714 | 5,680 | 5,369 |
Employee benefits | 715 | 687 | 1,577 | 1,751 |
Net occupancy expense | 346 | 368 | 724 | 723 |
Furniture and equipment | 443 | 427 | 855 | 849 |
Data processing | 361 | 320 | 772 | 649 |
Franchise taxes | 225 | 187 | 439 | 374 |
Net loss on sale of other assets owned | 5 | 45 | 11 | |
FDIC Assessment | 121 | 119 | 242 | 238 |
Mortgage servicing rights amortization | 99 | 103 | 188 | 183 |
Other general and administrative | 1,507 | 1,451 | 3,121 | 2,799 |
Total noninterest expenses | 6,657 | 6,381 | 13,643 | 12,946 |
Income Before Income Taxes | 4,228 | 3,553 | 7,643 | 6,757 |
Income Taxes | 1,254 | 956 | 2,188 | 1,809 |
Net Income | 2,974 | 2,597 | 5,455 | 4,948 |
Other Comprehensive Income (Loss) (Net of Tax): | ||||
Net unrealized gain (loss) on available for sale securities | 649 | (1,824) | 2,594 | (94) |
Reclassification adjustment for gain on sale of available for sale securities | (343) | (137) | (456) | (246) |
Net unrealized gain (loss) on available for sale securities | 306 | (1,961) | 2,138 | (340) |
Tax expense (benefit) | 104 | (667) | 727 | (116) |
Other comprehensive income (loss) | 202 | (1,294) | 1,411 | (224) |
Comprehensive Income | $ 3,176 | $ 1,303 | $ 6,866 | $ 4,724 |
Earnings Per Share - Basic and Diluted | $ 0.65 | $ 0.56 | $ 1.18 | $ 1.07 |
Dividends Declared | $ 0.23 | $ 0.22 | $ 0.45 | $ 0.43 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash Flows from Operating Activities | ||
Net income | $ 5,455 | $ 4,948 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 735 | 780 |
Accretion and amortization of available for sale securities, net | 547 | 610 |
Amortization of servicing rights | 188 | 183 |
Amortization of core deposit intangible | 161 | 161 |
Compensation expense related to stock awards | 216 | 133 |
Provision for loan loss | 616 | 297 |
Gain on sale of loans held for sale | (403) | (348) |
Originations of loans held for sale | (27,493) | (24,883) |
Proceeds from sale of loans held for sale | 27,221 | 24,664 |
Loss on sale of other assets | 45 | 11 |
Gain on sales of securities available for sale | (456) | (246) |
Change in other assets and other liabilities, net | (2,878) | (1,918) |
Net cash provided by operating activities | 3,954 | 4,392 |
Activity in securities: | ||
Maturities, prepayments and calls | 19,734 | 5,304 |
Sales | 42,744 | 30,026 |
Purchases | (42,375) | (41,160) |
Net change in interest-bearing time deposits | (1,960) | |
Proceeds from sales of assets | 6 | 53 |
Additions to premises and equipment | (1,449) | (794) |
Loan originations and principal collections, net | (45,721) | 1,279 |
Net cash used in investing activities | (29,021) | (5,292) |
Cash Flows from Financing Activities | ||
Net change in deposits | 31,507 | (912) |
Net change in federal funds purchased and securities sold under agreements to repurchase | (2,873) | 2,021 |
Purchase of Treasury Stock | (194) | (490) |
Cash dividends paid on common stock | (2,012) | (1,927) |
Net cash provided by (used in) financing activities | 26,428 | (1,308) |
Net Increase (Decrease) in Cash and Cash Equivalents | 1,361 | (2,208) |
Cash and cash equivalents - Beginning of year | 22,018 | 24,295 |
Cash and cash equivalents - End of period | 23,379 | 22,087 |
Cash paid during the year for: | ||
Interest | 1,998 | 1,739 |
Income taxes | 3,208 | 2,271 |
Noncash investing activities: | ||
Transfer of loans to other real estate owned | $ 216 | $ 46 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | NOTE 1 BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions for Form 10Q and Rule 10-01 of Regulation S-X; accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2016 are not necessarily indicative of the results that are expected for the year ended December 31, 2016. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2015. |
Asset Purchases
Asset Purchases | 6 Months Ended |
Jun. 30, 2016 | |
Business Combinations [Abstract] | |
Asset Purchases | NOTE 2 ASSET PURCHASES The Company recognized core deposit intangible assets of $1.09 million with the purchase of the Hicksville office on July 9, 2010. These are being amortized over an estimated remaining economic useful life of the deposits of 7 years on a straight line basis. An office was purchased on December 13, 2013 in Custar, Ohio. Core deposit intangible assets of $1.17 million were recognized and are being amortized over its remaining economic useful life of the deposits of 7 years on a straight line basis. The amortization expense for the year ended December 31, 2015 was $323 thousand. Of the $322 thousand to be expensed in 2016, $161 thousand has been expensed for the six months ended June 30, 2016. $161 thousand was also expensed for the six months ended June 30, 2015. Hicksville Custar Total 2016 $ 155 $ 167 $ 322 2017 78 167 245 2018 — 167 167 2019 — 167 167 2020 — 161 161 Thereafter — — — $ 233 $ 829 $ 1,062 |
Securities
Securities | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 3 SECURITIES The amortized cost and fair value of securities, with gross unrealized gains and losses, follows: (In Thousands) June 30, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available-for-Sale: U.S. Treasury $ 26,031 $ 93 $ — $ 26,124 U.S. Government agencies 93,043 450 $ — 93,493 Mortgage-backed securities 32,382 352 (23 ) 32,711 State and local governments 63,147 1,611 (23 ) 64,735 Total available-for-sale securities $ 214,603 $ 2,506 $ (46 ) $ 217,063 (In Thousands) December 31, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available-for-Sale: U.S. Treasury $ 38,778 $ 36 $ (309 ) $ 38,505 U.S. Government agencies 99,000 55 (835 ) 98,220 Mortgage-backed securities 26,157 283 (116 ) 26,324 State and local governments 70,858 1,290 (82 ) 72,066 Total available-for-sale securities $ 234,793 $ 1,664 $ (1,342 ) $ 235,115 Investment securities will at times depreciate to an unrealized loss position. The Company utilizes the following criteria to assess whether impairment is other than temporary. No one item by itself will necessarily signal that a security should be recognized as an other than temporary impairment. 1. The fair value of the security has significantly declined from book value. 2. A downgrade has occurred that lowered the credit rating to below investment grade (below Baa3 by Moody and BBB – by Standard and Poors.) 3. Dividends have been reduced or eliminated or scheduled interest payments have not been made. 4. The underwater security has longer than 10 years to maturity and the loss position had existed for more than 3 years. 5. Management does not possess both the intent and ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. If the impairment is judged to be other than temporary, the cost basis of the individual security shall be written down to fair value, thereby establishing a new cost basis. The new cost basis shall not be changed for subsequent recoveries in fair value. The amount of the write down shall be included in current earnings as a realized loss. The recovery in fair value, if any, shall be recognized in earnings when the security is sold. The table below is presented by category of security and length of time in a continuous loss position. The Company currently does not hold any securities with other than temporary impairment. Information pertaining to securities with gross unrealized losses at June 30, 2016 and December 31, 2015, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows: (In Thousands) June 30, 2016 Less Than Twelve Months Twelve Months & Over Gross Unrealized Fair Gross Unrealized Fair U.S. Treasury $ — $ — $ — $ — U.S. Government agencies — — — — Mortgage-backed securities (23 ) 13,995 — — State and local governments (18 ) 3,089 (5 ) 1,226 Total available-for-sale securities $ (41 ) $ 17,084$ $ (5 ) $ 1,226 (In Thousands) December 31, 2015 Less Than Twelve Months Twelve Months & Over Gross Unrealized Fair Gross Unrealized Fair U.S. Treasury $ (142 ) $ 23,241 $ (167 ) $ 10,195 U.S. Government agencies (635 ) 68,957 (200 ) 9,793 Mortgage-backed securities (60 ) 6,331 (56 ) 3,580 State and local governments (54 ) 7,920 (28 ) 1,725 Total available-for-sale securities $ (891 ) $ 106,449 $ (451 ) $ 25,293 Unrealized losses on securities have not been recognized into income because the issuers’ bonds are of high credit quality, values have only been impacted by rate changes, and the Company has the intent and ability to hold the securities for the foreseeable future. Additionally, the decline in value is primarily due to changes in interest rates since the securities were purchased. The fair value is expected to recover as the bonds approach the maturity date. Below are the gross realized gains and losses as of June 30 for each of the years presented. (In Thousands) 2016 2015 Gross realized gains $ 467 $ 246 Gross realized losses (11 ) — Net realized gains $ 456 $ 246 Tax expense related to net realized gain $ 155 $ 84 The net realized gain on sales and related tax expense is a reclassification out of accumulated other comprehensive income. The net realized gain is included in net gain on sale of securities available-for-sale and the related tax expense is included in income tax expense in the condensed consolidated statements of income and comprehensive income. The amortized cost and fair value of debt securities at June 30, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (In Thousands) Amortized Fair Value One year or less $ 12,561 $ 12,594 After one year through five years 121,400 122,422 After five years through ten years 46,251 47,068 After ten years 2,009 2,268 Total $ 182,221 $ 184,352 Mortgage-backed securities 32,382 32,711 Total $ 214,603 $ 217,063 Investments with a carrying value of $191.3 million and $189.3 million at June 30, 2016 and December 31, 2015, respectively, were pledged to secure public deposits and securities sold under repurchase agreements. Other securities include Federal Home Loan Bank of Cincinnati and Farmer Mac stock as of June 30, 2016 and December 31, 2015. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2016 | |
Receivables [Abstract] | |
Loans | NOTE 4 LOANS The Company had $1.8 million in loans held for sale at June 30, 2016 as compared to $1.2 million in loans held for sale at December 31, 2015. Due to materiality, these loans are included in the Consumer Real Estate and Agricultural Real Estate loan numbers. Loan balances as of June 30, 2016 and December 31, 2015: (In Thousands) June 30, 2016 December 31, 2015 Loans: Consumer Real Estate $ 89,090 $ 88,189 Agricultural Real Estate 61,403 58,525 Agricultural 83,287 82,654 Commercial Real Estate 357,838 322,762 Commercial and Industrial 104,336 100,125 Consumer 30,458 27,770 Industrial Development Bonds 5,952 6,491 732,364 686,516 Less: Net deferred loan fees and costs (673 ) (638 ) 731,691 685,878 Less: Allowance for loan losses (6,493 ) (6,057 ) Loans - Net $ 725,198 $ 679,821 The following is a maturity schedule by major category of loans as of June 30, 2016: (In Thousands) Within After One After Consumer Real Estate $ 1,428 $ 12,371 $ 75,291 Agricultural Real Estate 284 3,305 57,814 Agricultural 53,956 23,328 6,003 Commercial Real Estate 15,117 78,393 264,328 Commercial and Industrial 45,681 37,640 21,015 Consumer 5,808 18,331 6,319 Industrial Development Bonds 1,000 185 4,767 The distribution of fixed rate loans and variable rate loans by major loan category is as follows as of June 30, 2016. Variable rate loans whose current rates are equal to their floor or ceiling are classified as fixed in this table. (In Thousands) Fixed Variable Rate Rate Consumer Real Estate $ 55,672 $ 33,418 Agricultural Real Estate 44,680 16,723 Agricultural 51,164 32,123 Commercial Real Estate 225,756 132,082 Commercial and Industrial 66,330 38,006 Consumer 26,215 4,243 Industrial Development Bonds 5,952 — As of June 30, 2016 and December 31, 2015 one to four family residential mortgage loans amounting to $19.1 and $20.0 million, respectively, have been pledged as security for future loans the Bank has received from the Federal Home Loan Bank. Unless listed separately, Industrial Development Bonds are included in the commercial and industrial category for the remainder of the tables in this Note 4. The following table represents the contractual aging of the recorded investment (in thousands) in past due loans by portfolio classification of loans as of June 30, 2016 and December 31, 2015, net of deferred loan fees and costs: June 30, 2016 30-59 Days 60-89 Days Greater Than Total Current Total Recorded Consumer Real Estate $ 414 $ 176 $ 336 $ 926 $ 87,865 $ 88,791 $ 0 Agricultural Real Estate — — 163 163 61,190 61,353 — Agricultural — — 3 3 83,430 83,433 — Commercial Real Estate — — 231 231 357,012 357,243 — Commercial and Industrial 49 — — 49 110,337 110,386 — Consumer 10 25 — 35 30,450 30,485 — Total $ 473 $ 201 $ 733 $ 1,407 $ 730,284 $ 731,691 $ 0 December 31, 2015 30-59 Days 60-89 Days Greater Than Total Current Total Recorded Consumer Real Estate $ 303 $ 47 $ 357 $ 707 $ 87,240 $ 87,947 $ 0 Agricultural Real Estate — — 162 162 58,301 58,463 — Agricultural — 145 — 145 82,617 82,762 — Commercial Real Estate 236 — 841 1,077 321,153 322,230 — Commercial and Industrial 51 — 20 71 106,618 106,689 — Consumer 19 9 — 28 27,759 27,787 — Total $ 609 $ 201 $ 1,380 $ 2,190 $ 683,688 $ 685,878 $ 0 The following table presents the recorded investment in nonaccrual loans by class of loans as of June 30, 2016 and December 31, 2015: (In Thousands) June 30, December 31, Consumer Real Estate $ 1,013 $ 1,155 Agricultural Real Estate 162 162 Agricultural — — Commercial Real Estate 232 484 Commercial 118 202 Consumer 3 38 Total $ 1,528 $ 2,041 Following are the characteristics and underwriting criteria for each major type of loan the Bank offers: Commercial Real Estate – Construction, purchase, and refinance of business purpose real estate. Risks discussed during the approval process include construction delays and overruns, vacancies, collateral value subject to market value fluctuations, interest rate, market demands, borrower’s ability to repay in a timely fashion, and others. The Bank does employ stress testing on higher balance loans to mitigate risk by ensuring the customer’s ability to repay in a changing rate environment. Agricultural Real Estate – Purchase of farm real estate or for permanent improvements to the farm real estate. Cash flow from the farm operation is the repayment source and is therefore subject to the financial success of the farm operation. Consumer Real Estate – Purchase, refinance, or equity financing of one to four family owner occupied dwelling. Success in repayment is subject to borrower’s income, debt level, character in fulfilling payment obligations, employment, and others. Commercial and Industrial – Loans to proprietorships, partnerships, or corporations to provide temporary working capital and seasonal loans as well as long term loans for capital asset acquisition. Risks include adequacy of cash flow, reasonableness of projections, financial leverage, economic trends, management ability and estimated capital expenditures during the fiscal year. The Bank does employ stress testing on higher balance loans to mitigate risk by ensuring the customer’s ability to repay in a changing rate environment before granting loan approval. Agricultural – Loans for the production and housing of crops, fruits, vegetables, and livestock or to fund the purchase or re-finance of capital assets such as machinery and equipment and livestock. The production of crops and livestock is especially vulnerable to commodity prices and weather. The vulnerability to commodity prices is offset by the farmer’s ability to hedge their position by the use of the future contracts. The risk related to weather is often mitigated by requiring federal crop insurance. Consumer – Funding for individual and family purposes. Success in repayment is subject to borrower’s income, debt level, character in fulfilling payment obligations, employment, and others. Industrial Development Bonds – Funds for public improvements in the Bank’s service area. Repayment ability is based on the continuance of the taxation revenue as the source of repayment. The Bank uses a nine tier risk rating system to grade its loans. The grade of a loan may change during the life of the loan. The risk ratings are described as follows. 1. Zero (0) Unclassified. Any loan which has not been assigned a classification. 2. One (1) Excellent. Credit to premier customers having the highest credit rating based on an extremely strong financial condition, which compares favorably with industry standards (upper quartile of Risk Management Association ratios). Financial statements indicate a sound earnings and financial ratio trend for several years with satisfactory profit margins and excellent liquidity exhibited. Prime credits may also be borrowers with loans fully secured by highly liquid collateral such as traded stocks, bonds, certificates of deposit, savings account, etc. No credit or collateral exceptions exist and the loan adheres to the Bank’s loan policy in every respect. Financing alternatives would be readily available and would qualify for unsecured credit. This grade is summarized by high liquidity, minimum risk, strong ratios, and low handling costs. 3. Two (2) Good. Desirable loans of somewhat less stature than Grade 1, but with strong financial statements. Loan supported by financial statements containing strong balance sheets, generally with a leverage position less than 1.50, and a history of profitability. Probability of serious financial deterioration is unlikely. Possessing a sound repayment source (and a secondary source), which would allow repayment in a reasonable period of time. Individual loans backed by liquid personal assets, established history and unquestionable character. 4. Three (3) Satisfactory. Satisfactory loans of average or slightly above average risk – having some deficiency or vulnerability to changing economic conditions, but still fully collectible. Projects should normally demonstrate acceptable debt service coverage. Generally, customers should have a leverage position less than 2.00. May be some weakness but with offsetting features of other support readily available. Loans that are meeting the terms of repayment. Loans may be graded 3 when there is no recent information on which to base a current risk evaluation and the following conditions apply: At inception, the loan was properly underwritten and did not possess an unwarranted level of credit risk: a. At inception, the loan was secured with collateral possessing a loan value adequate to protect the Bank from loss; b. The loan exhibited two or more years of satisfactory repayment with a reasonable reduction of the principal balance; c. During the period that the loan has been outstanding, there has been no evidence of any credit weakness. Some examples of weakness include slow payment, lack of cooperation by the borrower, breach of loan covenants, or the business is in an industry which is known to be experiencing problems. If any of the credit weaknesses is observed, a lower risk grade is warranted. 5. Four (4) Satisfactory / Monitored. A “4” (Satisfactory/Monitored) risk grade may be established for a loan considered satisfactory but which is of average credit risk due to financial weakness or uncertainty. The loans warrant a higher than average level of monitoring to ensure that weaknesses do not advance. The level of risk in Satisfactory/Monitored classification is considered acceptable and within normal underwriting guidelines, so long as the loan is given management supervision. 6. Five (5) Special Mention. Loans that possess some credit deficiency or potential weakness which deserves close attention, but which do not yet warrant substandard classification. Such loans pose unwarranted financial risk that, if not corrected, could weaken the loan and increase risk in the future. The key distinctions of a 5 (Special Mention) classification are that (1) it is indicative of an unwarranted level of risk, and (2) weaknesses are considered “potential”, versus “defined”, impairments to the primary source of loan repayment and collateral. 7. Six (6) Substandard. One or more of the following characteristics may be exhibited in loans classified substandard: a. Loans, which possess a defined credit weakness and the likelihood that a loan will be paid from the primary source, are uncertain. Financial deterioration is underway and very close attention is warranted to ensure that the loan is collected without loss. b. Loans are inadequately protected by the current net worth and paying capacity of the borrower. c. The primary source of repayment is weakened, and the Bank is forced to rely on a secondary source of repayment such as collateral liquidation or guarantees. d. Loans are characterized by the distinct possibility that the Bank will sustain some loss if deficiencies are not corrected. e. Unusual courses of action are needed to maintain a high probability of repayment. f. The borrower is not generating enough cash flow to repay loan principal; however, continues to make interest payments. g. The lender is forced into a subordinate position or unsecured collateral position due to flaws in documentation. h. Loans have been restructured so that payment schedules, terms and collateral represent concessions to the borrower when compared to the normal loan terms. i. The lender is seriously contemplating foreclosure or legal action due to the apparent deterioration in the loan. j. There is significant deterioration in the market conditions and the borrower is highly vulnerable to these conditions. 8. Seven (7) Doubtful. One or more of the following characteristics may be exhibited in loans classified Doubtful: a. Loans have all of the weaknesses of those classified as Substandard. Additionally, however, these weaknesses make collection or liquidation in full based on existing conditions improbable. b. The primary source of repayment is gone, and there is considerable doubt as to the quality of the secondary source of repayment. c. The possibility of loss is high, but, because of certain important pending factors which may strengthen the loan, loss classification is deferred until its exact status is known. A Doubtful classification is established deferring the realization of the loss. 9. Eight (8) Loss. Loans are considered uncollectable and of such little value that continuing to carry them as assets on the institution’s financial statements is not feasible. Loans will be classified Loss when it is neither practical nor desirable to defer writing off or reserving all or a portion of a basically worthless asset, even though partial recovery may be possible at some time in the future. The following table represents the risk category of loans by portfolio class, net of deferred fees and costs, based on the most recent analysis performed as of June 30, 2016 and December 31, 2015: (In Thousands) Agricultural Agricultural Commercial Commercial Industrial June 30, 2016 1-2 $ 4,826 $ 6,846 $ 1,424 $ 696 $ — 3 19,001 28,329 26,336 17,836 2,770 4 36,432 47,737 326,125 85,015 3,182 5 739 521 1,532 291 — 6 355 — 1,736 478 — 7 — — 90 118 — 8 — — — — — Total $ 61,353 $ 83,433 $ 357,243 $ 104,434 $ 5,952 Agricultural Agricultural Commercial Commercial Industrial December 31, 2015 1-2 $ 5,841 $ 12,025 $ 597 $ 261 $ — 3 16,593 21,247 24,264 22,300 3,100 4 35,475 49,220 293,381 76,855 3,391 5 192 250 1,738 57 — 6 362 — 1,828 543 — 7 — 20 422 182 — 8 — — — — — Total $ 58,463 $ 82,762 $ 322,230 $ 100,198 $ 6,491 For consumer residential real estate, and other, the Company also evaluates credit quality based on the aging status of the loan, which was previously stated, and by payment activity. The following tables present the recorded investment in those classes based on payment activity and assigned risk grading as of June 30, 2016 and December 31, 2015. (In Thousands) Consumer Consumer June 30, December 31, Grade Pass $ 87,977 $ 87,292 Special Mention (5) 72 48 Substandard (6) 328 332 Doubtful (7) 414 275 Total $ 88,791 $ 87,947 (In Thousands) Consumer - Credit Consumer - Other June 30, December 31, June 30, December 31, Performing $ 3,626 $ 3,901 $ 26,831 $ 23,863 Nonperforming — — 28 23 Total $ 3,626 $ 3,901 $ 26,859 $ 23,886 Information about impaired loans as of June 30, 2016, December 31, 2015 and June 30, 2015 are as follows: (In Thousands) June 30, 2016 December 31, 2015 June 30, 2015 Impaired loans without a valuation allowance $ 997 $ 1,257 $ 3,239 Impaired loans with a valuation allowance 622 879 1,783 Total impaired loans $ 1,619 $ 2,136 $ 5,022 Valuation allowance related to impaired loans $ 217 $ 330 $ 475 Total non-accrual loans $ 1,528 $ 2,041 $ 3,063 Total loans past-due ninety days or more and still accruing $ — $ — $ — Quarter ended average investment in impaired loans $ 1,899 $ 2,207 $ 3,435 Year to date average investment in impaired loans $ 1,995 $ 2,509 $ 2,451 No additional funds are committed to be advanced in connection with impaired loans. The Bank had approximately $656 thousand of its impaired loans classified as troubled debt restructured (TDR) as of June 30, 2016, $1.1 million as of December 31, 2015 and $1.3 million as of June 30, 2015. During the year-to-date 2016, one new loan was considered TDR. This loan is making interest-only payments. The following table represents three and six months ended June 30, 2016. Three Months June 30, 2016 (in thousands) Troubled Debt Restructurings Number of Pre- Post- Six Months Number of Pre- Post- Consumer Real Estate — — — Consumer Real Estate 1 $ 138 $ 138 The following table represents three and six months ended June 30, 2015. Three Months June 30, 2015 (in thousands) Troubled Debt Restructurings Number of Pre- Post- Six Months Number of Pre- Post- Commercial Real Estate — $ — $ — Commercial Real Estate 1 $ 528 $ 430 Commercial and Industrial — — — Commercial and Industrial 1 25 24 For the three and six month period ended June 30, 2016 and 2015, there were no TDRs that subsequently defaulted after modification. For the majority of the Bank’s impaired loans, the Bank will apply the fair value of collateral or use a measurement incorporating the present value of expected future cash flows discounted at the loan’s effective rate of interest. To determine fair value of collateral, collateral asset values securing an impaired loan are periodically evaluated. Maximum time of re-evaluation is every 12 months for chattels and titled vehicles and every two years for real estate. In this process, third party evaluations are obtained. Until such time that updated appraisals are received, the Bank may discount the collateral value used. The Bank uses the following guidelines as stated in policy to determine when to realize a charge-off, whether a partial or full loan balance. A charge-off in whole or in part is realized when unsecured consumer loans, credit card credits and overdraft lines of credit reach 90 days delinquency. At 120 days delinquent, secured consumer loans are charged down to the value of the collateral, if repossession of the collateral is assured and/or in the process of repossession. Consumer mortgage loan deficiencies are charged down upon the sale of the collateral or sooner upon the recognition of collateral deficiency. Commercial and agricultural credits are charged down at 120 days delinquency, unless an established and approved work-out plan is in place or litigation of the credit will likely result in recovery of the loan balance. Upon notification of bankruptcy, unsecured debt is charged off. Additional charge-off may be realized as further unsecured positions are recognized. The following tables present loans individually evaluated for impairment by class of loans for three months ended June 30, 2016 and June 30, 2015. (In Thousands) Three Months Ended June 30, 2016 Recorded Unpaid Related QTD QTD QTD With no related allowance recorded: Consumer Real Estate $ 40 $ 40 $ — $ 25 $ — $ — Agricultural Real Estate 162 162 — 162 — — Agricultural — — — — — — Commercial Real Estate 346 346 — 346 6 6 Commercial and Industrial 449 449 — 450 6 — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 414 414 61 478 7 6 Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 90 90 90 311 — — Commercial and Industrial 118 118 66 127 — — Consumer — — — — — — Totals: Consumer Real Estate $ 454 $ 454 $ 61 $ 503 $ 7 $ 6 Agricultural Real Estate $ 162 $ 162 $ — $ 162 $ — $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 436 $ 436 $ 90 $ 657 $ 6 $ 6 Commercial and Industrial $ 567 $ 567 $ 66 $ 577 $ 6 $ — Consumer $ — $ — $ — $ — $ — $ — (In Thousands) Three Months Ended June 30, 2015 Recorded Unpaid Related QTD QTD QTD With no related allowance recorded: Consumer Real Estate $ 557 $ 557 $ — $ 145 $ — $ — Agricultural Real Estate 222 222 — 74 — — Agricultural — — — — — — Commercial Real Estate 1,460 1,546 — 634 — 9 Commercial and Industrial 1,000 1,364 — 798 13 — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 121 121 39 120 — 1 Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 1,339 1,339 235 1,340 7 — Commercial and Industrial 323 323 201 324 — — Consumer — — — — — — Totals: Consumer Real Estate $ 678 $ 678 $ 39 $ 265 $ — $ 1 Agricultural Real Estate $ 222 $ 222 $ — $ 74 $ — $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 2,799 $ 2,885 $ 235 $ 1,974 $ 7 $ 9 Commercial and Industrial $ 1,323 $ 1,687 $ 201 $ 1,122 $ 13 $ — Consumer $ — $ — $ — $ — $ — $ — The following tables present loans individually evaluated for impairment by class of loans for six months ended June 30, 2016 and June 30, 2015. (In Thousands) Six Months Ended June 30, 2016 Recorded Unpaid Related YTD YTD YTD With no related allowance recorded: Consumer Real Estate $ 40 $ 40 $ — $ 91 $ — $ — Agricultural Real Estate 162 162 — 162 1 — Agricultural — — — — — — Commercial Real Estate 346 346 — 378 14 13 Commercial and Industrial 449 449 — 452 12 — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 414 414 61 392 11 9 Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 90 90 90 366 — — Commercial and Industrial 118 118 66 154 — — Consumer — — — — — — Totals: Consumer Real Estate $ 454 $ 454 $ 61 $ 483 $ 11 $ 9 Agricultural Real Estate $ 162 $ 162 $ — $ 162 $ 1 $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 436 $ 436 $ 90 $ 744 $ 14 $ 13 Commercial and Industrial $ 567 $ 567 $ 66 $ 606 $ 12 $ — Consumer $ — $ — $ — $ — $ — $ — (In Thousands) Six Months Ended June 30, 2015 Recorded Unpaid Related YTD YTD YTD With no related allowance recorded: Consumer Real Estate $ 557 $ 557 $ — $ 159 $ — $ — Agricultural Real Estate 222 222 — 37 — — Agricultural — — — — — — Commercial Real Estate 1,460 1,546 — 317 — 9 Commercial and Industrial 1,000 1,364 — 399 13 — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 121 121 39 108 — 4 Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 1,339 1,339 235 1,096 8 Commercial and Industrial 323 323 201 331 — — Consumer — — — 4 — — Totals: Consumer Real Estate $ 678 $ 678 $ 39 $ 267 $ — $ 4 Agricultural Real Estate $ 222 $ 222 $ — $ 37 $ — $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 2,799 $ 2,885 $ 235 $ 1,413 $ 8 $ 9 Commercial and Industrial $ 1,323 $ 1,687 $ 201 $ 730 $ 13 $ — Consumer $ — $ — $ — $ 4 $ — $ — As of June 30, 2016, the Company had $673 thousand of foreclosed residential real estate property obtained by physical possession and $512 thousand of consumer mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process according to local jurisdictions. As of June 30, 2015, the Company had $452 thousand of foreclosed residential real estate property obtained by physical possession and $138 thousand of consumer mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process according to local jurisdictions. The Allowance for Loan and Lease Losses (ALLL) has a direct impact on the provision expense. An increase in the ALLL is funded through recoveries and provision expense. The following tables summarize the activities in the allowance for credit losses. (In Thousands) Six Months Ended Twelve Months Ended June 30, 2016 December 31, 2015 Allowance for Loan & Lease Losses Balance at beginning of year $ 6,057 $ 5,905 Provision for loan loss 616 625 Loans charged off (258 ) (1,030 ) Recoveries 78 557 Allowance for Loan & Lease Losses $ 6,493 $ 6,057 Allowance for Unfunded Loan Commitments & Letters of Credit $ 219 $ 208 Total Allowance for Credit Losses $ 6,712 $ 6,265 The Company segregates its ALLL into two reserves: The ALLL and the Allowance for Unfunded Loan Commitments and Letters of Credit (AULC). When combined, these reserves constitute the total Allowance for Credit Losses (ACL). The AULC is reported within other liabilities on the balance sheet while the ALLL is netted within the loans, net asset line. The ACL presented above represents the full amount of reserves available to absorb possible credit losses. [Remainder of this page intentionally left blank] The following table breaks down the activity within ACL for each loan portfolio classification and shows the contribution provided by both the recoveries and the provision along with the reduction of the allowance caused by charge-offs. Additional analysis, presented in thousands, related to the allowance for credit losses for three months ended June 30, 2016 and June 30, 2015 is as follows: Consumer Agricultural Agricultural Commercial Commercial and Consumer Unfunded Loan Unallocated Total Three Months Ended June 30, 2016 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 457 $ 272 $ 548 $ 2,678 $ 1,251 $ 335 $ 220 $ 744 $ 6,505 Charge Offs (63 ) — (18 ) — — (93 ) — — (174 ) Recoveries 19 — 1 3 3 17 — — 43 Provision (Credit) — (43 ) 60 36 (39 ) 106 — 219 339 Other Non-interest expense related to unfunded — — — — — — (1 ) — (1 ) Ending Balance $ 413 $ 229 $ 591 $ 2,717 $ 1,215 $ 365 $ 219 $ 963 $ 6,712 Ending balance: individually evaluated for impairment $ 61 $ — $ — $ 90 $ 66 $ — $ — $ — $ 217 Ending balance: collectively evaluated for impairment $ 352 $ 229 $ 591 $ 2,627 $ 1,149 $ 365 $ 219 $ 963 $ 6,495 Ending balance: loans acquired with deteriorated credit quality $ 1 — — — — — — — $ 1 FINANCING RECEIVABLES: Ending balance $ 88,791 $ 61,353 $ 83,433 $ 357,243 $ 110,386 $ 30,485 $ — $ — $ 731,691 Ending balance: individually evaluated for impairment $ 454 $ 162 $ — $ 436 $ 567 $ — $ — $ — $ 1,619 Ending balance: collectively evaluated for impairment $ 88,337 $ 61,191 $ 83,433 $ 356,807 $ 109,819 $ 30,485 $ — $ — $ 730,072 Ending balance: loans acquired with deteriorated credit quality $ 410 $ — $ — $ — $ — $ — $ — $ — $ 410 Consumer Agricultural Agricultural Commercial Commercial Consumer Unfunded Unallocated Total Three Months Ended June 30, 2015 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 497 $ 187 $ 524 $ 2,212 $ 1,419 $ 284 $ 202 $ 854 $ 6,179 Charge Offs — — — (85 ) (389 ) (55 ) — — (529 ) Recoveries 25 — 2 201 17 51 — — 296 Provision (Credit) (213 ) 2 (7 ) (42 ) 241 29 — 173 183 Other Non-interest expense related to unfunded — — — — — — (1 ) — (1 ) Ending Balance $ 309 $ 189 $ 519 $ 2,286 $ 1,288 $ 309 $ 201 $ 1,027 $ 6,128 Ending balance: individually evaluated for impairment $ 39 $ — $ — $ 235 $ 201 $ — $ — $ — $ 475 Ending balance: collectively evaluated for impairment $ 270 $ 189 $ 519 $ 2,051 $ 1,087 $ 309 $ 201 $ 1,027 $ 5,653 Ending balance: loans acquired with deteriorated credit quality $ 1 — — — — — — — $ 1 FINANCING RECEIVABLES: Ending balance $ 86,641 $ 52,614 $ 74,352 $ 279,002 $ 102,822 $ 25,160 $ — $ — $ 620,591 Ending balance: individually evaluated for impairment $ 678 $ 222 $ — $ 2,799 $ 1,323 $ — $ — $ — $ 5,022 Ending balance: collectively evaluated for impairment $ 85,963 $ 52,392 $ 74,352 $ 276,203 $ 101,499 $ 25,160 $ — $ — $ 615,569 Ending balance: loans acquired with deteriorated credit quality $ 517 $ — $ — $ — $ — $ — $ — $ — $ 517 Additional analysis, presented in thousands, related to the allowance for credit losses for six months ended June 30, 2016 and June 30, 2015 is as follows: Consumer Agricultural Agricultural Commercial Commercial Consumer Unfunded Unallocated Total Six Months Ended June 30, 2016 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 338 $ 211 $ 582 $ 2,516 $ 1,229 $ 337 $ 208 $ 844 $ 6,265 Charge Offs (64 ) — (18 ) (3 ) (20 ) (153 ) — — (258 ) Recoveries 21 — 5 5 5 42 — — 78 Provision (Credit) 117 18 22 199 2 139 — 119 616 Other Non-interest expense related to unfunded — — — — — — 11 — 11 Ending Balance $ 412 $ 229 $ 591 $ 2,717 $ 1,216 $ 365 $ 219 $ 963 $ 6,712 Ending balance: individually evaluated for impairment $ 61 $ — $ — $ 90 $ 66 $ — $ — $ — $ 217 Ending balance: collectively evaluated for impairment $ 351 $ 229 $ 591 $ 2,627 $ 1,150 $ 365 $ 219 $ 963 $ 6,495 Ending balance: loans acquired with deteriorated credit quality $ 1 — — — — — — — $ 1 FINANCING RECEIVABLES: Ending balance $ 88,791 $ 61,353 $ 83,433 $ 357,243 $ 110,386 $ 30,485 $ — $ — $ 731,691 Ending balance: individually evaluated for impairment $ 454 $ 162 $ — $ 436 $ 567 $ — $ — $ — $ 1,619 Ending balance: collectively evaluated for impairment $ 88,337 $ 61,191 $ 83,433 $ 356,807 $ 109,819 $ 30,485 $ — $ — $ 730,072 Ending balance: loans acquired with deteriorated credit quality $ 410 $ — $ — $ — $ — $ — $ — $ — $ 410 Consumer Agricultural Agricultural Commercial Commercial Consumer Unfunded Unallocated Total Six Months Ended June 30, 2015 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 537 $ 184 $ 547 $ 2,367 $ 1,421 $ 323 $ 207 $ 526 $ 6,112 Charge Offs — — — (85 ) (390 ) (146 ) — — (621 ) Recoveries 27 — 3 202 23 91 — — 346 Provision (Credit) (255 ) 5 (31 ) (198 ) 234 41 — 501 297 Other Non-interest expense related to unfunded — — — — — — (6 ) — (6 ) Ending Balance $ 309 $ 189 $ 519 $ 2,286 $ 1,288 $ 309 $ 201 $ 1,027 $ 6,128 Ending balance: individually evaluated for impairment $ 39 $ — $ — $ 235 $ 201 $ — $ — $ — $ 475 Ending balance: collectively evaluated for impairment $ 270 $ 189 $ 519 $ 2,051 $ 1,087 $ 309 $ 201 $ 1,027 $ 5,653 Ending balance: loans acquired with deteriorated credit quality $ 1 — — — — — — — $ 1 FINANCING RECEIVABLES: Ending balance $ 86,641 $ 52,614 $ 74,352 $ 279,002 $ 102,822 $ 25,160 $ — $ — $ 620,591 Ending balance: individually evaluated for impairment $ 678 $ 222 $ — $ 2,799 $ 1,323 $ — $ — $ — $ 5,022 Ending balance: collectively evaluated for impairment $ 85,963 $ 52,392 $ 74,352 $ 276,203 $ 101,499 $ 25,160 $ — $ — $ 615,569 Ending balance: loans acquired with deteriorated credit quality $ 517 $ — $ — $ — $ — $ — $ — $ — $ 517 |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | NOTE 5 EARNINGS PER SHARE Basic earnings per share are calculated using the two-class method. The two-class method is an earnings allocation formula under which earnings per share is calculated from common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Under this method, all earnings distributed and undistributed, are allocated to participating securities and common shares based on their respective rights to receive dividends. Unvested share-based payment awards that contain non-forfeitable rights to dividends are considered participating securities (i.e. unvested restricted stock), not subject to performance based measures. Basic earnings per share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding. Application of the two-class method for participating securities results a more dilutive basic earnings per share as the participating securities are allocated the same amount of income as if they are outstanding for purposes of basic earnings per share. There is no additional potential dilution in calculating diluted earnings per share, therefore basic and diluted earnings per share are the same amounts. Other than the restricted stock plan, the Company has no other stock based compensation plans. In Thousands Three Months Ended Year to Date Ended June 30, June 30, June 30, June 30, Earnings per share Net income $ 2,974 $ 2,597 $ 5,455 $ 4,948 Less: distributed earnings allocated to participating securities (9 ) (7 ) (17 ) (14 ) Less: undistributed earnings allocated to participating securities (15 ) (11 ) (28 ) (21 ) Net earnings available to common shareholders $ 2,950 $ 2,579 $ 5,410 $ 4,913 Weighted average common shares outstanding including participating securities 4,605,534 4,608,453 4,607,380 4,615,846 Less: average unvested restricted shares (37,905 ) (32,815 ) (38,287 ) (32,869 ) Weighted average common shares outstanding 4,567,629 4,575,638 4,569,093 4,582,977 Basic earnings and diluted per share $ 0.65 $ 0.56 $ 1.18 $ 1.07 |
Fair Value of Instruments
Fair Value of Instruments | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Instruments | NOTE 6 FAIR VALUE OF INSTRUMENTS FAIR VALUE OF FINANCIAL INSTRUMENTS Fair values of financial instruments are management’s estimate of the values at which the instruments could be exchanged in a transaction between willing parties. These estimates are subjective and may vary significantly from amounts that would be realized in actual transactions. In addition, other significant assets are not considered financial assets including deferred tax assets, premises, equipment and intangibles. Further, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on the fair value estimates and have not been considered in any of the estimates. The following assumptions and methods were used in estimating the fair value for financial instruments. Cash and Cash Equivalents The carrying amounts reported in the balance sheet for cash, cash equivalents and federal funds sold approximate their fair values. Also included in this line item are the carrying amounts of interest-bearing deposits maturing within ninety days which approximate their fair values. Fair values of other interest-bearing deposits are estimated using discounted cash flow analyses based on current rates for similar types of deposits. Interest Bearing Time Deposits Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow analysis that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. Securities – Available-for-sale Fair values for securities, excluding Federal Home Loan Bank and Farmer Mac stock, are based on quoted market price, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Other Securities The carrying value of Federal Home Loan Bank and Farmer Mac stock, listed as “other securities”, approximates fair value based on the redemption provisions of the Federal Home Loan Bank. Loans, net For those variable-rate loans that re-price frequently, and with no significant change in credit risk, fair values are based on carrying values. The fair values of the fixed rate and all other loans are estimated using discounted cash flow analysis, using interest rates currently being offered for loans with similar terms to borrowers with similar credit quality. Deposits The fair values disclosed for deposits with no defined maturities are equal to their carrying amounts, which represent the amount payable on demand. The carrying amounts for variable-rate, fixed term money market accounts and certificates of deposit approximate their fair value at the reporting date. Fair value for fixed-rate certificates of deposit are estimated using a discounted cash flow analysis that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. Federal Funds Purchased and Securities Sold Under Agreements to Repurchase The carrying value of federal funds purchased and securities sold under agreements to repurchase approximates fair values. Accrued Interest Receivable and Payable The carrying amounts of accrued interest approximate their fair values. Off Balance Sheet Financial Instruments Fair values for off-balance sheet, credit related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counter-parties’ credit standing. FHLB Advances Fair values or FHLB advances are estimated using discounted cash flow analysis based on the Company’s current incremental borrowing rates for similar types or borrowing arrangements. The estimated fair values, and related carrying or notional amounts, for on and off-balance sheet financial instruments as of June 30, 2016 and December 31, 2015 are reflected below. (In Thousands) June 30, 2016 Carrying Fair Level 1 Level 2 Level 3 Financial Assets: Cash and Cash Equivalents $ 23,379 $ 23,379 $ 23,379 $ — $ — Interest-bearing time deposits 1,960 1,960 — 1,960 — Securities - available-for-sale 217,063 217,063 26,124 189,433 1,506 Other Securities 3,717 3,717 — — 3,717 Loans, net 725,198 728,789 — — 728,789 Interest receivable 3,785 3,785 — — 3,785 Financial Liabilities: Interest bearing Deposits $ 441,470 $ 441,470 $ — $ — $ 441,470 Non-interest bearing Deposits 170,126 170,126 — 170,126 — Time Deposits 191,250 191,415 — — 191,415 Total Deposits $ 802,846 $ 803,011 $ — $ 170,126 $ 632,885 Fed Funds purchased and Securities sold under agreements to repurchase $ 75,942 $ 75,942 $ — $ — $ 75,942 Federal Home Loan Bank advances 10,000 10,041 — — 10,041 Interest payable 229 229 — — 229 (In Thousands) December 31, 2015 Carrying Fair Level 1 Level 2 Level 3 Financial Assets: Cash and Cash Equivalents $ 22,018 $ 22,018 $ 22,018 $ — $ — Securities - available-for-sale 235,115 235,115 38,505 189,258 7,352 Other Securities 3,717 3,717 — — 3,717 Loans, net 679,821 683,332 — — 683,332 Interest receivable 3,589 3,589 — — 3,589 Financial Liabilities: Interest bearing Deposits $ 415,942 $ 415,942 $ — $ — $ 415,942 Non-interest bearing Deposits 171,112 171,112 — 171,112 — Time Deposits 184,285 184,308 — — 184,308 Total Deposits $ 771,339 $ 771,362 $ — $ 171,112 $ 600,250 Federal Funds Purchased and Securities Sold Under Agreement to Repurchase $ 78,815 $ 78,815 $ — $ — $ 78,815 Federal Home Loan Bank advances 10,000 9,986 — — 9,986 Interest payable 185 185 — — 185 Fair Value Measurements In general, fair values determined by Level 1 inputs use quoted prices in active markets for identical assets or liabilities in active markets that the Company has the ability to access. Available-for-sale securities, when quoted prices are available in an active market, securities are valued using the quoted price and are classified as Level 1. Fair values determined by Level 2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and other inputs such as interest rates and yield curves that are observable at commonly quoted intervals. Available-for-sale securities classified as Level 2 are valued using the prices obtained from an independent pricing service. The prices are not adjusted. Securities of obligations of state and political subdivisions are valued using a type of matrix, or grid, pricing in which securities are benchmarked against the treasury rate based on credit rating. Substantially all assumptions used by the independent pricing service are observable in the marketplace, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. Level 3 inputs are unobservable inputs, including inputs that are available in situations where there is little, if any, market activity for the related asset or liability. The Bank holds some local municipals that the Bank evaluates based on the credit strength of the underlying project. The fair value is determined by valuing similar credit payment streams at similar rates. In instances where inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The Company’s assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset. The following summarizes financial assets measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015, segregated by level or the valuation inputs within the fair value hierarchy utilized to measure fair value: Assets and Liabilities Measured at Fair Value on a Recurring Basis (In Thousands) June 30, 2016 Quoted Prices in Significant Significant Assets - (Securities Available-for-Sale) U.S. Treasury $ 26,124 $ — $ — U.S. Government agencies — 93,493 — Mortgage-backed securities — 32,711 — State and local governments — 63,229 1,506 Total Securities Available-for-Sale $ 26,124 $ 189,433 $ 1,506 December 31, 2015 Quoted Prices in Significant Significant Assets - (Securities Available-for-Sale) U.S. Treasury $ 38,505 $ — $ — U.S. Government agencies — 98,220 — Mortgage-backed securities — 26,324 — State and local governments — 64,714 7,352 Total Securities Available-for-Sale $ 38,505 $ 189,258 $ 7,352 The following table represents the changes in the Level 3 fair-value category of which unobservable inputs are relied upon as of June 30, 2016 and June 30, 2015. (In Thousands) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and Local State and Local State and Local Balance at January 1, 2016 $ 5,904 $ 1,448 $ 7,352 Change in Market Value — 58 58 Payments & Maturities (5,904 ) — (5,904 ) Balance at June 30, 2016 $ — $ 1,506 $ 1,506 (In Thousands) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and Local State and Local State and Local Balance at January 1, 2015 $ 6,638 $ 1,293 $ 7,931 Change in Market Value (6 ) 90 84 Payments & Maturities (200 ) — (200 ) Balance at June 30, 2015 $ 6,432 $ 1,383 $ 7,815 Most of the Company’s available-for-sale securities, including any bonds issued by local municipalities, have CUSIP numbers or have similar characteristics of those in the municipal markets, making them marketable and comparable as Level 2. The Company also has assets that, under certain conditions, are subject to measurement at fair value on a non-recurring basis. At June 30, 2016 and December 31, 2015, such assets consist primarily of collateral dependent impaired loans. Collateral dependent impaired loans categorized as Level 3 assets consist of non-homogeneous loans that are considered impaired. The Company estimates the fair value of the loans based on the present value of expected future cash flows using management’s best estimate of key assumptions. These assumptions include future payment ability, timing of payment streams, and estimated realizable values of available collateral (typically based on outside appraisals.) At June 30, 2016 and December 31, 2015, fair value of collateral dependent impaired loans categorized as Level 3 were $0.4 and $0.5 million, respectively. The specific allocation for impaired loans was $217 and $330 thousand as of June 30, 2016 and December 31, 2015, respectively, which are accounted for in the allowance for loan losses (see Note 4). Other real estate is reported at either the lower of the fair value of the real estate minus the estimated costs to sell the asset or the cost of the asset. The determination of fair value of the real estate relies primarily on appraisals from third parties. If the fair value of the real estate, minus the estimated costs to sell the asset, is less than the asset’s cost, the deficiency is recognized as a valuation allowance against the asset through a charge to expense. The valuation allowance is therefore increased or decreased, through charges or credits to expense, for changes in the asset’s fair value or estimated selling costs. The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements: Fair Value at Valuation Technique Unobservable Inputs Range (In Thousands) State and local government $ 1,506 Discounted cash flow Credit strength of underlying project or entity / Discount rate 0-5 % Collateral dependent Impaired loans $ 405 Collateral based measurements Discount to reflect current market conditions and ultimate collectability 0-50 % Fair Value at Valuation Technique Unobservable Inputs Range (In Thousands) State and local government $ 7,352 Discounted cash flow Credit strength of underlying project or entity / Discount rate 0-5 % Collateral dependent Impaired loans $ 549 Collateral based measurements Discount to reflect current market conditions and ultimate collectability 0-50 % Other real estate owned - commercial $ 216 Appraisals Discount to reflect current market 0-20 % The following table presents impaired loans and other real estate owned as recorded at fair value on June 30, 2016 and December 31, 2015: Assets Measured at Fair Value on a Nonrecurring Basis at June 30, 2016 (In Thousands) Balance at Quoted Prices in Active Significant Significant Collateral dependent impaired loans $ 405 $ — $ — $ 405 Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2015 (In Thousands) Balance at Quoted Prices in Active Significant Significant Collateral dependent impaired loans $ 549 $ — $ — $ 549 Other real estate owned - commercial $ 216 $ — $ — $ 216 The Company also has other assets, which under certain conditions, are subject to measurement at fair value. These assets include loans held for sale, bank owned life insurance, and mortgage servicing rights. The Company estimated the fair values of these assets utilizing Level 3 inputs, including, the discounted present value of expected future cash flows. At June 30, 2016 and December 31, 2015, the Company estimates that there is no impairment of these assets. |
Federal Funds Purchased and Sec
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 6 Months Ended |
Jun. 30, 2016 | |
Brokers and Dealers [Abstract] | |
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | NOTE 7 FEDERAL FUNDS PURCHASED AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE The Company had $19 million and $22 million in Federal Funds Purchased as of June 30, 2016, and December 31, 2015, respectively. During the same time periods the company also had $57 million and $57 million in securities sold under agreement to repurchase. June 30, 2016 Remaining Contratual Maturity of the Agreements (In Thousands) Overnight & Up to 30 days 30-90 days Greater Than 90 days Total Federal funds purchased $ 18,592 $ — $ — $ — $ 18,592 Repurchase Agreements; US Treasury & agency securities $ 37,041 $ — $ — $ 20,309 $ 57,350 $ 55,633 $ — $ — $ 20,309 $ 75,942 December 31, 2015 Remaining Contratual Maturity of the Agreements (In Thousands) Overnight & Up to 30 days 30-90 days Greater Than 90 days Total Federal funds purchased $ 22,000 $ — $ — $ — $ 22,000 Repurchase Agreements; US Treasury & agency securities $ 39,691 $ — $ — $ 17,124 $ 56,815 $ 61,691 $ — $ — $ 17,124 $ 78,815 |
Asset Purchases (Tables)
Asset Purchases (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Business Combinations [Abstract] | |
Amortization Expense of Core Deposit Intangible Assets | Hicksville Custar Total 2016 $ 155 $ 167 $ 322 2017 78 167 245 2018 — 167 167 2019 — 167 167 2020 — 161 161 Thereafter — — — $ 233 $ 829 $ 1,062 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses | The amortized cost and fair value of securities, with gross unrealized gains and losses, follows: (In Thousands) June 30, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available-for-Sale: U.S. Treasury $ 26,031 $ 93 $ — $ 26,124 U.S. Government agencies 93,043 450 $ — 93,493 Mortgage-backed securities 32,382 352 (23 ) 32,711 State and local governments 63,147 1,611 (23 ) 64,735 Total available-for-sale securities $ 214,603 $ 2,506 $ (46 ) $ 217,063 (In Thousands) December 31, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available-for-Sale: U.S. Treasury $ 38,778 $ 36 $ (309 ) $ 38,505 U.S. Government agencies 99,000 55 (835 ) 98,220 Mortgage-backed securities 26,157 283 (116 ) 26,324 State and local governments 70,858 1,290 (82 ) 72,066 Total available-for-sale securities $ 234,793 $ 1,664 $ (1,342 ) $ 235,115 |
Gross Unrealized Losses, Aggregated by Investment Category and Length of Time | Information pertaining to securities with gross unrealized losses at June 30, 2016 and December 31, 2015, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows: (In Thousands) June 30, 2016 Less Than Twelve Months Twelve Months & Over Gross Unrealized Fair Gross Unrealized Fair U.S. Treasury $ — $ — $ — $ — U.S. Government agencies — — — — Mortgage-backed securities (23 ) 13,995 — — State and local governments (18 ) 3,089 (5 ) 1,226 Total available-for-sale securities $ (41 ) $ 17,084$ $ (5 ) $ 1,226 (In Thousands) December 31, 2015 Less Than Twelve Months Twelve Months & Over Gross Unrealized Fair Gross Unrealized Fair U.S. Treasury $ (142 ) $ 23,241 $ (167 ) $ 10,195 U.S. Government agencies (635 ) 68,957 (200 ) 9,793 Mortgage-backed securities (60 ) 6,331 (56 ) 3,580 State and local governments (54 ) 7,920 (28 ) 1,725 Total available-for-sale securities $ (891 ) $ 106,449 $ (451 ) $ 25,293 |
Gross Realized Gains and Losses | Below are the gross realized gains and losses as of June 30 for each of the years presented. (In Thousands) 2016 2015 Gross realized gains $ 467 $ 246 Gross realized losses (11 ) — Net realized gains $ 456 $ 246 Tax expense related to net realized gain $ 155 $ 84 |
Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity | The amortized cost and fair value of debt securities at June 30, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (In Thousands) Amortized Fair Value One year or less $ 12,561 $ 12,594 After one year through five years 121,400 122,422 After five years through ten years 46,251 47,068 After ten years 2,009 2,268 Total $ 182,221 $ 184,352 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Receivables [Abstract] | |
Loans | Loan balances as of June 30, 2016 and December 31, 2015: (In Thousands) June 30, 2016 December 31, 2015 Loans: Consumer Real Estate $ 89,090 $ 88,189 Agricultural Real Estate 61,403 58,525 Agricultural 83,287 82,654 Commercial Real Estate 357,838 322,762 Commercial and Industrial 104,336 100,125 Consumer 30,458 27,770 Industrial Development Bonds 5,952 6,491 732,364 686,516 Less: Net deferred loan fees and costs (673 ) (638 ) 731,691 685,878 Less: Allowance for loan losses (6,493 ) (6,057 ) Loans - Net $ 725,198 $ 679,821 |
Maturity Schedule by Major Category of Loans | The following is a maturity schedule by major category of loans as of June 30, 2016: (In Thousands) Within After One After Consumer Real Estate $ 1,428 $ 12,371 $ 75,291 Agricultural Real Estate 284 3,305 57,814 Agricultural 53,956 23,328 6,003 Commercial Real Estate 15,117 78,393 264,328 Commercial and Industrial 45,681 37,640 21,015 Consumer 5,808 18,331 6,319 Industrial Development Bonds 1,000 185 4,767 |
Distribution of Fixed Rate Loans and Variable Rate Loans by Major Loan Category | The distribution of fixed rate loans and variable rate loans by major loan category is as follows as of June 30, 2016. Variable rate loans whose current rates are equal to their floor or ceiling are classified as fixed in this table. (In Thousands) Fixed Variable Rate Rate Consumer Real Estate $ 55,672 $ 33,418 Agricultural Real Estate 44,680 16,723 Agricultural 51,164 32,123 Commercial Real Estate 225,756 132,082 Commercial and Industrial 66,330 38,006 Consumer 26,215 4,243 Industrial Development Bonds 5,952 — |
Contractual Aging of the Recorded Investment in Past Due Loans by Portfolio Classification of Loans | The following table represents the contractual aging of the recorded investment (in thousands) in past due loans by portfolio classification of loans as of June 30, 2016 and December 31, 2015, net of deferred loan fees and costs: June 30, 2016 30-59 Days 60-89 Days Greater Than Total Current Total Recorded Consumer Real Estate $ 414 $ 176 $ 336 $ 926 $ 87,865 $ 88,791 $ 0 Agricultural Real Estate — — 163 163 61,190 61,353 — Agricultural — — 3 3 83,430 83,433 — Commercial Real Estate — — 231 231 357,012 357,243 — Commercial and Industrial 49 — — 49 110,337 110,386 — Consumer 10 25 — 35 30,450 30,485 — Total $ 473 $ 201 $ 733 $ 1,407 $ 730,284 $ 731,691 $ 0 December 31, 2015 30-59 Days 60-89 Days Greater Than Total Current Total Recorded Consumer Real Estate $ 303 $ 47 $ 357 $ 707 $ 87,240 $ 87,947 $ 0 Agricultural Real Estate — — 162 162 58,301 58,463 — Agricultural — 145 — 145 82,617 82,762 — Commercial Real Estate 236 — 841 1,077 321,153 322,230 — Commercial and Industrial 51 — 20 71 106,618 106,689 — Consumer 19 9 — 28 27,759 27,787 — Total $ 609 $ 201 $ 1,380 $ 2,190 $ 683,688 $ 685,878 $ 0 |
Recorded Investment in Nonaccrual Loans by Portfolio Class of Loans | The following table presents the recorded investment in nonaccrual loans by class of loans as of June 30, 2016 and December 31, 2015: (In Thousands) June 30, December 31, Consumer Real Estate $ 1,013 $ 1,155 Agricultural Real Estate 162 162 Agricultural — — Commercial Real Estate 232 484 Commercial 118 202 Consumer 3 38 Total $ 1,528 $ 2,041 |
Risk Category of Loans by Portfolio Class | The following table represents the risk category of loans by portfolio class, net of deferred fees and costs, based on the most recent analysis performed as of June 30, 2016 and December 31, 2015: (In Thousands) Agricultural Agricultural Commercial Commercial Industrial June 30, 2016 1-2 $ 4,826 $ 6,846 $ 1,424 $ 696 $ — 3 19,001 28,329 26,336 17,836 2,770 4 36,432 47,737 326,125 85,015 3,182 5 739 521 1,532 291 — 6 355 — 1,736 478 — 7 — — 90 118 — 8 — — — — — Total $ 61,353 $ 83,433 $ 357,243 $ 104,434 $ 5,952 Agricultural Agricultural Commercial Commercial Industrial December 31, 2015 1-2 $ 5,841 $ 12,025 $ 597 $ 261 $ — 3 16,593 21,247 24,264 22,300 3,100 4 35,475 49,220 293,381 76,855 3,391 5 192 250 1,738 57 — 6 362 — 1,828 543 — 7 — 20 422 182 — 8 — — — — — Total $ 58,463 $ 82,762 $ 322,230 $ 100,198 $ 6,491 |
Recorded Investment for Consumer Loans, Credit Quality based on Status of Loan and Payment Activity | The following tables present the recorded investment in those classes based on payment activity and assigned risk grading as of June 30, 2016 and December 31, 2015. (In Thousands) Consumer Consumer June 30, December 31, Grade Pass $ 87,977 $ 87,292 Special Mention (5) 72 48 Substandard (6) 328 332 Doubtful (7) 414 275 Total $ 88,791 $ 87,947 (In Thousands) Consumer - Credit Consumer - Other June 30, December 31, June 30, December 31, Performing $ 3,626 $ 3,901 $ 26,831 $ 23,863 Nonperforming — — 28 23 Total $ 3,626 $ 3,901 $ 26,859 $ 23,886 |
Schedule of Impaired Loans | Information about impaired loans as of June 30, 2016, December 31, 2015 and June 30, 2015 are as follows: (In Thousands) June 30, 2016 December 31, 2015 June 30, 2015 Impaired loans without a valuation allowance $ 997 $ 1,257 $ 3,239 Impaired loans with a valuation allowance 622 879 1,783 Total impaired loans $ 1,619 $ 2,136 $ 5,022 Valuation allowance related to impaired loans $ 217 $ 330 $ 475 Total non-accrual loans $ 1,528 $ 2,041 $ 3,063 Total loans past-due ninety days or more and still accruing $ — $ — $ — Quarter ended average investment in impaired loans $ 1,899 $ 2,207 $ 3,435 Year to date average investment in impaired loans $ 1,995 $ 2,509 $ 2,451 |
Impaired Loans Classified as Troubled Debt Restructured | The following table represents three and six months ended June 30, 2016. Three Months June 30, 2016 (in thousands) Troubled Debt Restructurings Number of Pre- Post- Six Months Number of Pre- Post- Consumer Real Estate — — — Consumer Real Estate 1 $ 138 $ 138 The following table represents three and six months ended June 30, 2015. Three Months June 30, 2015 (in thousands) Troubled Debt Restructurings Number of Pre- Post- Six Months Number of Pre- Post- Commercial Real Estate — $ — $ — Commercial Real Estate 1 $ 528 $ 430 Commercial and Industrial — — — Commercial and Industrial 1 25 24 |
Loans Individually Evaluated for Impairment by Portfolio Class of Loans | The following tables present loans individually evaluated for impairment by class of loans for three months ended June 30, 2016 and June 30, 2015. (In Thousands) Three Months Ended June 30, 2016 Recorded Unpaid Related QTD QTD QTD With no related allowance recorded: Consumer Real Estate $ 40 $ 40 $ — $ 25 $ — $ — Agricultural Real Estate 162 162 — 162 — — Agricultural — — — — — — Commercial Real Estate 346 346 — 346 6 6 Commercial and Industrial 449 449 — 450 6 — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 414 414 61 478 7 6 Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 90 90 90 311 — — Commercial and Industrial 118 118 66 127 — — Consumer — — — — — — Totals: Consumer Real Estate $ 454 $ 454 $ 61 $ 503 $ 7 $ 6 Agricultural Real Estate $ 162 $ 162 $ — $ 162 $ — $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 436 $ 436 $ 90 $ 657 $ 6 $ 6 Commercial and Industrial $ 567 $ 567 $ 66 $ 577 $ 6 $ — Consumer $ — $ — $ — $ — $ — $ — (In Thousands) Three Months Ended June 30, 2015 Recorded Unpaid Related QTD QTD QTD With no related allowance recorded: Consumer Real Estate $ 557 $ 557 $ — $ 145 $ — $ — Agricultural Real Estate 222 222 — 74 — — Agricultural — — — — — — Commercial Real Estate 1,460 1,546 — 634 — 9 Commercial and Industrial 1,000 1,364 — 798 13 — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 121 121 39 120 — 1 Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 1,339 1,339 235 1,340 7 — Commercial and Industrial 323 323 201 324 — — Consumer — — — — — — Totals: Consumer Real Estate $ 678 $ 678 $ 39 $ 265 $ — $ 1 Agricultural Real Estate $ 222 $ 222 $ — $ 74 $ — $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 2,799 $ 2,885 $ 235 $ 1,974 $ 7 $ 9 Commercial and Industrial $ 1,323 $ 1,687 $ 201 $ 1,122 $ 13 $ — Consumer $ — $ — $ — $ — $ — $ — The following tables present loans individually evaluated for impairment by class of loans for six months ended June 30, 2016 and June 30, 2015. (In Thousands) Six Months Ended June 30, 2016 Recorded Unpaid Related YTD YTD YTD With no related allowance recorded: Consumer Real Estate $ 40 $ 40 $ — $ 91 $ — $ — Agricultural Real Estate 162 162 — 162 1 — Agricultural — — — — — — Commercial Real Estate 346 346 — 378 14 13 Commercial and Industrial 449 449 — 452 12 — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 414 414 61 392 11 9 Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 90 90 90 366 — — Commercial and Industrial 118 118 66 154 — — Consumer — — — — — — Totals: Consumer Real Estate $ 454 $ 454 $ 61 $ 483 $ 11 $ 9 Agricultural Real Estate $ 162 $ 162 $ — $ 162 $ 1 $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 436 $ 436 $ 90 $ 744 $ 14 $ 13 Commercial and Industrial $ 567 $ 567 $ 66 $ 606 $ 12 $ — Consumer $ — $ — $ — $ — $ — $ — (In Thousands) Six Months Ended June 30, 2015 Recorded Unpaid Related YTD YTD YTD With no related allowance recorded: Consumer Real Estate $ 557 $ 557 $ — $ 159 $ — $ — Agricultural Real Estate 222 222 — 37 — — Agricultural — — — — — — Commercial Real Estate 1,460 1,546 — 317 — 9 Commercial and Industrial 1,000 1,364 — 399 13 — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 121 121 39 108 — 4 Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 1,339 1,339 235 1,096 8 Commercial and Industrial 323 323 201 331 — — Consumer — — — 4 — — Totals: Consumer Real Estate $ 678 $ 678 $ 39 $ 267 $ — $ 4 Agricultural Real Estate $ 222 $ 222 $ — $ 37 $ — $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 2,799 $ 2,885 $ 235 $ 1,413 $ 8 $ 9 Commercial and Industrial $ 1,323 $ 1,687 $ 201 $ 730 $ 13 $ — Consumer $ — $ — $ — $ 4 $ — $ — |
Summary of Activities in Allowance for Credit Losses | provision expense. The following tables summarize the activities in the allowance for credit losses. (In Thousands) Six Months Ended Twelve Months Ended June 30, 2016 December 31, 2015 Allowance for Loan & Lease Losses Balance at beginning of year $ 6,057 $ 5,905 Provision for loan loss 616 625 Loans charged off (258 ) (1,030 ) Recoveries 78 557 Allowance for Loan & Lease Losses $ 6,493 $ 6,057 Allowance for Unfunded Loan Commitments & Letters of Credit $ 219 $ 208 Total Allowance for Credit Losses $ 6,712 $ 6,265 |
Analysis of Allowance for Credit Losses | Additional analysis, presented in thousands, related to the allowance for credit losses for three months ended June 30, 2016 and June 30, 2015 is as follows: Consumer Agricultural Agricultural Commercial Commercial and Consumer Unfunded Loan Unallocated Total Three Months Ended June 30, 2016 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 457 $ 272 $ 548 $ 2,678 $ 1,251 $ 335 $ 220 $ 744 $ 6,505 Charge Offs (63 ) — (18 ) — — (93 ) — — (174 ) Recoveries 19 — 1 3 3 17 — — 43 Provision (Credit) — (43 ) 60 36 (39 ) 106 — 219 339 Other Non-interest expense related to unfunded — — — — — — (1 ) — (1 ) Ending Balance $ 413 $ 229 $ 591 $ 2,717 $ 1,215 $ 365 $ 219 $ 963 $ 6,712 Ending balance: individually evaluated for impairment $ 61 $ — $ — $ 90 $ 66 $ — $ — $ — $ 217 Ending balance: collectively evaluated for impairment $ 352 $ 229 $ 591 $ 2,627 $ 1,149 $ 365 $ 219 $ 963 $ 6,495 Ending balance: loans acquired with deteriorated credit quality $ 1 — — — — — — — $ 1 FINANCING RECEIVABLES: Ending balance $ 88,791 $ 61,353 $ 83,433 $ 357,243 $ 110,386 $ 30,485 $ — $ — $ 731,691 Ending balance: individually evaluated for impairment $ 454 $ 162 $ — $ 436 $ 567 $ — $ — $ — $ 1,619 Ending balance: collectively evaluated for impairment $ 88,337 $ 61,191 $ 83,433 $ 356,807 $ 109,819 $ 30,485 $ — $ — $ 730,072 Ending balance: loans acquired with deteriorated credit quality $ 410 $ — $ — $ — $ — $ — $ — $ — $ 410 Consumer Agricultural Agricultural Commercial Commercial Consumer Unfunded Unallocated Total Three Months Ended June 30, 2015 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 497 $ 187 $ 524 $ 2,212 $ 1,419 $ 284 $ 202 $ 854 $ 6,179 Charge Offs — — — (85 ) (389 ) (55 ) — — (529 ) Recoveries 25 — 2 201 17 51 — — 296 Provision (Credit) (213 ) 2 (7 ) (42 ) 241 29 — 173 183 Other Non-interest expense related to unfunded — — — — — — (1 ) — (1 ) Ending Balance $ 309 $ 189 $ 519 $ 2,286 $ 1,288 $ 309 $ 201 $ 1,027 $ 6,128 Ending balance: individually evaluated for impairment $ 39 $ — $ — $ 235 $ 201 $ — $ — $ — $ 475 Ending balance: collectively evaluated for impairment $ 270 $ 189 $ 519 $ 2,051 $ 1,087 $ 309 $ 201 $ 1,027 $ 5,653 Ending balance: loans acquired with deteriorated credit quality $ 1 — — — — — — — $ 1 FINANCING RECEIVABLES: Ending balance $ 86,641 $ 52,614 $ 74,352 $ 279,002 $ 102,822 $ 25,160 $ — $ — $ 620,591 Ending balance: individually evaluated for impairment $ 678 $ 222 $ — $ 2,799 $ 1,323 $ — $ — $ — $ 5,022 Ending balance: collectively evaluated for impairment $ 85,963 $ 52,392 $ 74,352 $ 276,203 $ 101,499 $ 25,160 $ — $ — $ 615,569 Ending balance: loans acquired with deteriorated credit quality $ 517 $ — $ — $ — $ — $ — $ — $ — $ 517 Additional analysis, presented in thousands, related to the allowance for credit losses for six months ended June 30, 2016 and June 30, 2015 is as follows: Consumer Agricultural Agricultural Commercial Commercial Consumer Unfunded Unallocated Total Six Months Ended June 30, 2016 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 338 $ 211 $ 582 $ 2,516 $ 1,229 $ 337 $ 208 $ 844 $ 6,265 Charge Offs (64 ) — (18 ) (3 ) (20 ) (153 ) — — (258 ) Recoveries 21 — 5 5 5 42 — — 78 Provision (Credit) 117 18 22 199 2 139 — 119 616 Other Non-interest expense related to unfunded — — — — — — 11 — 11 Ending Balance $ 412 $ 229 $ 591 $ 2,717 $ 1,216 $ 365 $ 219 $ 963 $ 6,712 Ending balance: individually evaluated for impairment $ 61 $ — $ — $ 90 $ 66 $ — $ — $ — $ 217 Ending balance: collectively evaluated for impairment $ 351 $ 229 $ 591 $ 2,627 $ 1,150 $ 365 $ 219 $ 963 $ 6,495 Ending balance: loans acquired with deteriorated credit quality $ 1 — — — — — — — $ 1 FINANCING RECEIVABLES: Ending balance $ 88,791 $ 61,353 $ 83,433 $ 357,243 $ 110,386 $ 30,485 $ — $ — $ 731,691 Ending balance: individually evaluated for impairment $ 454 $ 162 $ — $ 436 $ 567 $ — $ — $ — $ 1,619 Ending balance: collectively evaluated for impairment $ 88,337 $ 61,191 $ 83,433 $ 356,807 $ 109,819 $ 30,485 $ — $ — $ 730,072 Ending balance: loans acquired with deteriorated credit quality $ 410 $ — $ — $ — $ — $ — $ — $ — $ 410 Consumer Agricultural Agricultural Commercial Commercial Consumer Unfunded Unallocated Total Six Months Ended June 30, 2015 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 537 $ 184 $ 547 $ 2,367 $ 1,421 $ 323 $ 207 $ 526 $ 6,112 Charge Offs — — — (85 ) (390 ) (146 ) — — (621 ) Recoveries 27 — 3 202 23 91 — — 346 Provision (Credit) (255 ) 5 (31 ) (198 ) 234 41 — 501 297 Other Non-interest expense related to unfunded — — — — — — (6 ) — (6 ) Ending Balance $ 309 $ 189 $ 519 $ 2,286 $ 1,288 $ 309 $ 201 $ 1,027 $ 6,128 Ending balance: individually evaluated for impairment $ 39 $ — $ — $ 235 $ 201 $ — $ — $ — $ 475 Ending balance: collectively evaluated for impairment $ 270 $ 189 $ 519 $ 2,051 $ 1,087 $ 309 $ 201 $ 1,027 $ 5,653 Ending balance: loans acquired with deteriorated credit quality $ 1 — — — — — — — $ 1 FINANCING RECEIVABLES: Ending balance $ 86,641 $ 52,614 $ 74,352 $ 279,002 $ 102,822 $ 25,160 $ — $ — $ 620,591 Ending balance: individually evaluated for impairment $ 678 $ 222 $ — $ 2,799 $ 1,323 $ — $ — $ — $ 5,022 Ending balance: collectively evaluated for impairment $ 85,963 $ 52,392 $ 74,352 $ 276,203 $ 101,499 $ 25,160 $ — $ — $ 615,569 Ending balance: loans acquired with deteriorated credit quality $ 517 $ — $ — $ — $ — $ — $ — $ — $ 517 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Calculation of Basic Earnings Per Share | In Thousands Three Months Ended Year to Date Ended June 30, June 30, June 30, June 30, Earnings per share Net income $ 2,974 $ 2,597 $ 5,455 $ 4,948 Less: distributed earnings allocated to participating securities (9 ) (7 ) (17 ) (14 ) Less: undistributed earnings allocated to participating securities (15 ) (11 ) (28 ) (21 ) Net earnings available to common shareholders $ 2,950 $ 2,579 $ 5,410 $ 4,913 Weighted average common shares outstanding including participating securities 4,605,534 4,608,453 4,607,380 4,615,846 Less: average unvested restricted shares (37,905 ) (32,815 ) (38,287 ) (32,869 ) Weighted average common shares outstanding 4,567,629 4,575,638 4,569,093 4,582,977 Basic earnings and diluted per share $ 0.65 $ 0.56 $ 1.18 $ 1.07 |
Fair Value of Instruments (Tabl
Fair Value of Instruments (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values and Related Carrying or Notional Amounts | The estimated fair values, and related carrying or notional amounts, for on and off-balance sheet financial instruments as of June 30, 2016 and December 31, 2015 are reflected below. (In Thousands) June 30, 2016 Carrying Fair Level 1 Level 2 Level 3 Financial Assets: Cash and Cash Equivalents $ 23,379 $ 23,379 $ 23,379 $ — $ — Interest-bearing time deposits 1,960 1,960 — 1,960 — Securities - available-for-sale 217,063 217,063 26,124 189,433 1,506 Other Securities 3,717 3,717 — — 3,717 Loans, net 725,198 728,789 — — 728,789 Interest receivable 3,785 3,785 — — 3,785 Financial Liabilities: Interest bearing Deposits $ 441,470 $ 441,470 $ — $ — $ 441,470 Non-interest bearing Deposits 170,126 170,126 — 170,126 — Time Deposits 191,250 191,415 — — 191,415 Total Deposits $ 802,846 $ 803,011 $ — $ 170,126 $ 632,885 Fed Funds purchased and Securities sold under agreements to repurchase $ 75,942 $ 75,942 $ — $ — $ 75,942 Federal Home Loan Bank advances 10,000 10,041 — — 10,041 Interest payable 229 229 — — 229 (In Thousands) December 31, 2015 Carrying Fair Level 1 Level 2 Level 3 Financial Assets: Cash and Cash Equivalents $ 22,018 $ 22,018 $ 22,018 $ — $ — Securities - available-for-sale 235,115 235,115 38,505 189,258 7,352 Other Securities 3,717 3,717 — — 3,717 Loans, net 679,821 683,332 — — 683,332 Interest receivable 3,589 3,589 — — 3,589 Financial Liabilities: Interest bearing Deposits $ 415,942 $ 415,942 $ — $ — $ 415,942 Non-interest bearing Deposits 171,112 171,112 — 171,112 — Time Deposits 184,285 184,308 — — 184,308 Total Deposits $ 771,339 $ 771,362 $ — $ 171,112 $ 600,250 Federal Funds Purchased and Securities Sold Under Agreement to Repurchase $ 78,815 $ 78,815 $ — $ — $ 78,815 Federal Home Loan Bank advances 10,000 9,986 — — 9,986 Interest payable 185 185 — — 185 |
Financial Assets Measured at Fair Value on Recurring Basis | The following summarizes financial assets measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015, segregated by level or the valuation inputs within the fair value hierarchy utilized to measure fair value: Assets and Liabilities Measured at Fair Value on a Recurring Basis (In Thousands) June 30, 2016 Quoted Prices in Significant Significant Assets - (Securities Available-for-Sale) U.S. Treasury $ 26,124 $ — $ — U.S. Government agencies — 93,493 — Mortgage-backed securities — 32,711 — State and local governments — 63,229 1,506 Total Securities Available-for-Sale $ 26,124 $ 189,433 $ 1,506 December 31, 2015 Quoted Prices in Significant Significant Assets - (Securities Available-for-Sale) U.S. Treasury $ 38,505 $ — $ — U.S. Government agencies — 98,220 — Mortgage-backed securities — 26,324 — State and local governments — 64,714 7,352 Total Securities Available-for-Sale $ 38,505 $ 189,258 $ 7,352 |
Changes in the Level 3 Fair-Value Category of Which Unobservable Inputs | The following table represents the changes in the Level 3 fair-value category of which unobservable inputs are relied upon as of June 30, 2016 and June 30, 2015. (In Thousands) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and Local State and Local State and Local Balance at January 1, 2016 $ 5,904 $ 1,448 $ 7,352 Change in Market Value — 58 58 Payments & Maturities (5,904 ) — (5,904 ) Balance at June 30, 2016 $ — $ 1,506 $ 1,506 (In Thousands) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and Local State and Local State and Local Balance at January 1, 2015 $ 6,638 $ 1,293 $ 7,931 Change in Market Value (6 ) 90 84 Payments & Maturities (200 ) — (200 ) Balance at June 30, 2015 $ 6,432 $ 1,383 $ 7,815 |
Quantitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements | The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements: Fair Value at Valuation Technique Unobservable Inputs Range (In Thousands) State and local government $ 1,506 Discounted cash flow Credit strength of underlying project or entity / Discount rate 0-5 % Collateral dependent Impaired loans $ 405 Collateral based measurements Discount to reflect current market conditions and ultimate collectability 0-50 % Fair Value at Valuation Technique Unobservable Inputs Range (In Thousands) State and local government $ 7,352 Discounted cash flow Credit strength of underlying project or entity / Discount rate 0-5 % Collateral dependent Impaired loans $ 549 Collateral based measurements Discount to reflect current market conditions and ultimate collectability 0-50 % Other real estate owned - commercial $ 216 Appraisals Discount to reflect current market 0-20 % |
Impaired Loans and Other Real Estate | The following table presents impaired loans and other real estate owned as recorded at fair value on June 30, 2016 and December 31, 2015: Assets Measured at Fair Value on a Nonrecurring Basis at June 30, 2016 (In Thousands) Balance at Quoted Prices in Active Significant Significant Collateral dependent impaired loans $ 405 $ — $ — $ 405 Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2015 (In Thousands) Balance at Quoted Prices in Active Significant Significant Collateral dependent impaired loans $ 549 $ — $ — $ 549 Other real estate owned - commercial $ 216 $ — $ — $ 216 |
Federal Funds Purchased and S18
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Brokers and Dealers [Abstract] | |
Schedule of Remaining Contractual Maturity in Repurchase Agreements | June 30, 2016 Remaining Contratual Maturity of the Agreements (In Thousands) Overnight & Up to 30 days 30-90 days Greater Than 90 days Total Federal funds purchased $ 18,592 $ — $ — $ — $ 18,592 Repurchase Agreements; US Treasury & agency securities $ 37,041 $ — $ — $ 20,309 $ 57,350 $ 55,633 $ — $ — $ 20,309 $ 75,942 December 31, 2015 Remaining Contratual Maturity of the Agreements (In Thousands) Overnight & Up to 30 days 30-90 days Greater Than 90 days Total Federal funds purchased $ 22,000 $ — $ — $ — $ 22,000 Repurchase Agreements; US Treasury & agency securities $ 39,691 $ — $ — $ 17,124 $ 56,815 $ 61,691 $ — $ — $ 17,124 $ 78,815 |
Asset Purchases - Additional In
Asset Purchases - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 13, 2013 | Jul. 09, 2010 | |
Business Acquisition [Line Items] | ||||||
Amortization expense | $ 161 | $ 161 | $ 323 | |||
Scenario, Forecast [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Amortization expense | $ 322 | |||||
Custar [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Recognition of core deposit intangible asset with acquired purchase | $ 1,170 | |||||
Number of years amortized over an estimated remaining economic useful life of deposits | 7 years | |||||
Hicksville [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Recognition of core deposit intangible asset with acquired purchase | $ 1,090 | |||||
Number of years amortized over an estimated remaining economic useful life of deposits | 7 years |
Asset Purchases - Amortization
Asset Purchases - Amortization Expense of Core Deposit Intangible Assets (Detail) $ in Thousands | Jun. 30, 2016USD ($) |
Business Acquisition [Line Items] | |
2,016 | $ 322 |
2,017 | 245 |
2,018 | 167 |
2,019 | 167 |
2,020 | 161 |
Thereafter | 0 |
Total | 1,062 |
Hicksville [Member] | |
Business Acquisition [Line Items] | |
2,016 | 155 |
2,017 | 78 |
Thereafter | 0 |
Total | 233 |
Custar [Member] | |
Business Acquisition [Line Items] | |
2,016 | 167 |
2,017 | 167 |
2,018 | 167 |
2,019 | 167 |
2,020 | 161 |
Thereafter | 0 |
Total | $ 829 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 214,603 | $ 234,793 |
Gross Unrealized Gains | 2,506 | 1,664 |
Gross Unrealized Losses | (46) | (1,342) |
Fair Value | 217,063 | 235,115 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 26,031 | 38,778 |
Gross Unrealized Gains | 93 | 36 |
Gross Unrealized Losses | (309) | |
Fair Value | 26,124 | 38,505 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 93,043 | 99,000 |
Gross Unrealized Gains | 450 | 55 |
Gross Unrealized Losses | (835) | |
Fair Value | 93,493 | 98,220 |
Mortgage-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 32,382 | 26,157 |
Gross Unrealized Gains | 352 | 283 |
Gross Unrealized Losses | (23) | (116) |
Fair Value | 32,711 | 26,324 |
State and Local Governments [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 63,147 | 70,858 |
Gross Unrealized Gains | 1,611 | 1,290 |
Gross Unrealized Losses | (23) | (82) |
Fair Value | $ 64,735 | $ 72,066 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Investments with a carrying value and fair value | $ 191.3 | $ 189.3 |
Minimum [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Underwater security | 10 years | |
Loss position existed | 3 years |
Securities - Gross Unrealized L
Securities - Gross Unrealized Losses, Aggregated by Investment Category and Length of Time (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | $ (41) | $ (891) |
Fair Value, Less Than Twelve Months | 17,084 | 106,449 |
Gross Unrealized Losses, Twelve Months and Over | (5) | (451) |
Fair Value, Twelve Months and Over | 1,226 | 25,293 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (142) | |
Fair Value, Less Than Twelve Months | 23,241 | |
Gross Unrealized Losses, Twelve Months and Over | (167) | |
Fair Value, Twelve Months and Over | 10,195 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (635) | |
Fair Value, Less Than Twelve Months | 68,957 | |
Gross Unrealized Losses, Twelve Months and Over | (200) | |
Fair Value, Twelve Months and Over | 9,793 | |
Mortgage-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (23) | (60) |
Fair Value, Less Than Twelve Months | 13,995 | 6,331 |
Gross Unrealized Losses, Twelve Months and Over | (56) | |
Fair Value, Twelve Months and Over | 3,580 | |
State and Local Governments [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (18) | (54) |
Fair Value, Less Than Twelve Months | 3,089 | 7,920 |
Gross Unrealized Losses, Twelve Months and Over | (5) | (28) |
Fair Value, Twelve Months and Over | $ 1,226 | $ 1,725 |
Securities - Gross Realized Gai
Securities - Gross Realized Gains and Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures [Abstract] | ||||
Gross realized gains | $ 467 | $ 246 | ||
Gross realized losses | (11) | |||
Net realized gains | $ 343 | $ 137 | 456 | 246 |
Tax expense related to net realized gain | $ 155 | $ 84 |
Securities - Amortized Cost a25
Securities - Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Available-for-sale Securities, Debt Maturities [Abstract] | ||
Amortized Cost, One year or less | $ 12,561 | |
Amortized Cost, After one year through five years | 121,400 | |
Amortized Cost, After five years through ten years | 46,251 | |
Amortized Cost, After ten years | 2,009 | |
Amortized Cost, Total | 182,221 | |
Amortized Cost, Mortgage-backed securities | 32,382 | |
Amortized Cost | 214,603 | $ 234,793 |
Fair Value, One year or less | 12,594 | |
Fair Value, After one year through five years | 122,422 | |
Fair Value, After five years through ten years | 47,068 | |
Fair Value, After ten years | 2,268 | |
Fair Value, Total | 184,352 | |
Fair Value, Mortgage-backed securities | 32,711 | |
Total, Fair Value | $ 217,063 | $ 235,115 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage loan | $ 19.1 | $ 20 |
Consumer Real Estate [Member] | Agricultural Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held for sale | $ 1.8 | $ 1.2 |
Loans - Loans (Detail)
Loans - Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Loans: | ||||
Loans - Gross | $ 732,364 | $ 686,516 | ||
Less: Net deferred loan fees and costs | (673) | (638) | ||
Loans after net deferred loan fees and costs | 731,691 | 685,878 | $ 620,591 | |
Less: Allowance for loan losses | (6,493) | (6,057) | $ (5,905) | |
Loans - Net | 725,198 | 679,821 | ||
Agricultural Real Estate [Member] | ||||
Loans: | ||||
Loans - Gross | 61,403 | 58,525 | ||
Loans after net deferred loan fees and costs | 61,353 | 58,463 | 52,614 | |
Agricultural [Member] | ||||
Loans: | ||||
Loans - Gross | 83,287 | 82,654 | ||
Loans after net deferred loan fees and costs | 83,433 | 82,762 | 74,352 | |
Industrial Development Bonds [Member] | ||||
Loans: | ||||
Loans - Gross | 5,952 | 6,491 | ||
Loans after net deferred loan fees and costs | 5,952 | 6,491 | ||
Consumer Real Estate [Member] | ||||
Loans: | ||||
Loans - Gross | 89,090 | 88,189 | ||
Loans after net deferred loan fees and costs | 88,791 | 87,947 | 86,641 | |
Commercial Real Estate [Member] | ||||
Loans: | ||||
Loans - Gross | 357,838 | 322,762 | ||
Loans after net deferred loan fees and costs | 357,243 | 322,230 | 279,002 | |
Consumer [Member] | ||||
Loans: | ||||
Loans - Gross | 30,458 | 27,770 | ||
Loans after net deferred loan fees and costs | 30,485 | 27,787 | $ 25,160 | |
Commercial and Industrial [Member] | ||||
Loans: | ||||
Loans - Gross | 104,336 | 100,125 | ||
Loans after net deferred loan fees and costs | $ 104,434 | $ 100,198 |
Loans - Maturity Schedule by Ma
Loans - Maturity Schedule by Major Category of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | $ 732,364 | $ 686,516 |
Agricultural Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 61,403 | 58,525 |
Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 83,287 | 82,654 |
Industrial Development Bonds [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 5,952 | 6,491 |
Consumer Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 89,090 | 88,189 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 357,838 | 322,762 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 30,458 | 27,770 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 104,336 | $ 100,125 |
Major Category Of Receivables Due Within One Year [Member] | Agricultural Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 284 | |
Major Category Of Receivables Due Within One Year [Member] | Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 53,956 | |
Major Category Of Receivables Due Within One Year [Member] | Industrial Development Bonds [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 1,000 | |
Major Category Of Receivables Due Within One Year [Member] | Consumer Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 1,428 | |
Major Category Of Receivables Due Within One Year [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 15,117 | |
Major Category Of Receivables Due Within One Year [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 5,808 | |
Major Category Of Receivables Due Within One Year [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 45,681 | |
Major Category Of Receivables Due Within One Year to Five Years [Member] | Agricultural Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 3,305 | |
Major Category Of Receivables Due Within One Year to Five Years [Member] | Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 23,328 | |
Major Category Of Receivables Due Within One Year to Five Years [Member] | Industrial Development Bonds [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 185 | |
Major Category Of Receivables Due Within One Year to Five Years [Member] | Consumer Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 12,371 | |
Major Category Of Receivables Due Within One Year to Five Years [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 78,393 | |
Major Category Of Receivables Due Within One Year to Five Years [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 18,331 | |
Major Category Of Receivables Due Within One Year to Five Years [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 37,640 | |
Major Category Of Receivables Over Five Years [Member] | Agricultural Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 57,814 | |
Major Category Of Receivables Over Five Years [Member] | Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 6,003 | |
Major Category Of Receivables Over Five Years [Member] | Industrial Development Bonds [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 4,767 | |
Major Category Of Receivables Over Five Years [Member] | Consumer Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 75,291 | |
Major Category Of Receivables Over Five Years [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 264,328 | |
Major Category Of Receivables Over Five Years [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 6,319 | |
Major Category Of Receivables Over Five Years [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | $ 21,015 |
Loans - Distribution of Fixed R
Loans - Distribution of Fixed Rate Loans and Variable Rate Loans by Major Loan Category (Detail) $ in Thousands | Jun. 30, 2016USD ($) |
Agricultural Real Estate [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | $ 44,680 |
Distribution of variable rate loans by major loan category, Variable Rate | 16,723 |
Agricultural [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 51,164 |
Distribution of variable rate loans by major loan category, Variable Rate | 32,123 |
Industrial Development Bonds [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 5,952 |
Consumer Real Estate [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 55,672 |
Distribution of variable rate loans by major loan category, Variable Rate | 33,418 |
Commercial Real Estate [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 225,756 |
Distribution of variable rate loans by major loan category, Variable Rate | 132,082 |
Consumer [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 26,215 |
Distribution of variable rate loans by major loan category, Variable Rate | 4,243 |
Commercial and Industrial [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 66,330 |
Distribution of variable rate loans by major loan category, Variable Rate | $ 38,006 |
Loans - Contractual Aging of Re
Loans - Contractual Aging of Recorded Investment in Past Due Loans by Portfolio Classification of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | $ 1,407 | $ 2,190 | |
Current | 730,284 | 683,688 | |
Loans after net deferred loan fees and costs | 731,691 | 685,878 | $ 620,591 |
Recorded Investment > 90 Days and Accruing | 0 | 0 | 0 |
Agricultural Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 163 | 162 | |
Current | 61,190 | 58,301 | |
Loans after net deferred loan fees and costs | 61,353 | 58,463 | 52,614 |
Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 3 | 145 | |
Current | 83,430 | 82,617 | |
Loans after net deferred loan fees and costs | 83,433 | 82,762 | 74,352 |
Commercial And Industrial and Industrial Development Bonds [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 49 | 71 | |
Current | 110,337 | 106,618 | |
Loans after net deferred loan fees and costs | 110,386 | 106,689 | 102,822 |
Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 926 | 707 | |
Current | 87,865 | 87,240 | |
Loans after net deferred loan fees and costs | 88,791 | 87,947 | 86,641 |
Recorded Investment > 90 Days and Accruing | 0 | 0 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 231 | 1,077 | |
Current | 357,012 | 321,153 | |
Loans after net deferred loan fees and costs | 357,243 | 322,230 | 279,002 |
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 35 | 28 | |
Current | 30,450 | 27,759 | |
Loans after net deferred loan fees and costs | 30,485 | 27,787 | $ 25,160 |
30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 473 | 609 | |
30 to 59 Days Past Due [Member] | Commercial And Industrial and Industrial Development Bonds [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 49 | 51 | |
30 to 59 Days Past Due [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 414 | 303 | |
30 to 59 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 236 | ||
30 to 59 Days Past Due [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 10 | 19 | |
60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 201 | 201 | |
60 to 89 Days Past Due [Member] | Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 145 | ||
60 to 89 Days Past Due [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 176 | 47 | |
60 to 89 Days Past Due [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 25 | 9 | |
Greater Than 90 Days [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 733 | 1,380 | |
Greater Than 90 Days [Member] | Agricultural Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 163 | 162 | |
Greater Than 90 Days [Member] | Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 3 | ||
Greater Than 90 Days [Member] | Commercial And Industrial and Industrial Development Bonds [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 20 | ||
Greater Than 90 Days [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 336 | 357 | |
Greater Than 90 Days [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | $ 231 | $ 841 |
Loans - Recorded Investment in
Loans - Recorded Investment in Nonaccrual Loans by Portfolio Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | $ 1,528 | $ 2,041 | $ 3,063 |
Agricultural Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | 162 | 162 | |
Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | 1,013 | 1,155 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | 232 | 484 | |
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | 3 | 38 | |
Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | $ 118 | $ 202 |
Loans (Tier Risk Rating System)
Loans (Tier Risk Rating System) - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2016 | |
Minimum [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Repayment period of loan with a reasonable reduction of principal balance | 2 years |
3 [Member] | Maximum [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Leverage position | 2.00% |
Good [Member] | Maximum [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Leverage position | 1.50% |
Loans - Risk Category of Loans
Loans - Risk Category of Loans by Portfolio Class (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | $ 731,691 | $ 685,878 | $ 620,591 |
Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 104,434 | 100,198 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 357,243 | 322,230 | 279,002 |
1-2 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 696 | 261 | |
1-2 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 1,424 | 597 | |
3 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 17,836 | 22,300 | |
3 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 26,336 | 24,264 | |
4 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 85,015 | 76,855 | |
4 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 326,125 | 293,381 | |
5 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 291 | 57 | |
5 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 1,532 | 1,738 | |
6 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 478 | 543 | |
6 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 1,736 | 1,828 | |
7 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 118 | 182 | |
7 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 90 | 422 | |
Agricultural Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 61,353 | 58,463 | 52,614 |
Agricultural Real Estate [Member] | 1-2 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 4,826 | 5,841 | |
Agricultural Real Estate [Member] | 3 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 19,001 | 16,593 | |
Agricultural Real Estate [Member] | 4 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 36,432 | 35,475 | |
Agricultural Real Estate [Member] | 5 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 739 | 192 | |
Agricultural Real Estate [Member] | 6 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 355 | 362 | |
Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 83,433 | 82,762 | $ 74,352 |
Agricultural [Member] | 1-2 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 6,846 | 12,025 | |
Agricultural [Member] | 3 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 28,329 | 21,247 | |
Agricultural [Member] | 4 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 47,737 | 49,220 | |
Agricultural [Member] | 5 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 521 | 250 | |
Agricultural [Member] | 7 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 20 | ||
Industrial Development Bonds [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 5,952 | 6,491 | |
Industrial Development Bonds [Member] | 3 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 2,770 | 3,100 | |
Industrial Development Bonds [Member] | 4 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | $ 3,182 | $ 3,391 |
Loans - Recorded Investment for
Loans - Recorded Investment for Consumer Loans, Credit Quality based on Status of Loan and Payment Activity (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | $ 731,691 | $ 685,878 | $ 620,591 |
Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 88,791 | 87,947 | $ 86,641 |
Pass [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 87,977 | 87,292 | |
5 [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 72 | 48 | |
6 [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 328 | 332 | |
7 [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 414 | 275 | |
Consumer - Credit Card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 3,626 | 3,901 | |
Consumer - Credit Card [Member] | Performing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 3,626 | 3,901 | |
Consumer - Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 26,859 | 23,886 | |
Consumer - Other [Member] | Performing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 26,831 | 23,863 | |
Consumer - Other [Member] | Nonperforming [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | $ 28 | $ 23 |
Loans - Schedule of Impaired Lo
Loans - Schedule of Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Receivables [Abstract] | ||||||
Impaired loans without a valuation allowance | $ 997 | $ 1,257 | $ 3,239 | $ 997 | $ 3,239 | $ 1,257 |
Impaired loans with a valuation allowance | 622 | 879 | 1,783 | 622 | 1,783 | 879 |
Total impaired loans | 1,619 | 2,136 | 5,022 | 1,619 | 5,022 | 2,136 |
Valuation allowance related to impaired loans | 217 | 330 | 475 | 217 | 475 | 330 |
Total non-accrual loans | 1,528 | 2,041 | 3,063 | 1,528 | 3,063 | 2,041 |
Total loans past-due ninety days or more and still accruing | 0 | 0 | 0 | 0 | 0 | 0 |
Average investment in impaired loans | $ 1,899 | $ 2,207 | $ 3,435 | $ 1,995 | $ 2,451 | $ 2,509 |
Loans (Impaired Loans) - Additi
Loans (Impaired Loans) - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans classified as troubled debt restructured | $ 656 | $ 1,100 | $ 1,300 |
Maximum time for re-evaluation (in months) | 12 months | ||
Re-evaluation period for real estate | 2 years | ||
Unsecured consumer loans, credit card credits and overdraft lines of credit reach | 90 days | ||
Delinquent period for charging down consumer loans | 120 days | ||
Delinquent period for charging down commercial and agricultural credits | 120 days | ||
Foreclosed residential real estate property | $ 1,252 | $ 1,175 | |
Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Foreclosed residential real estate property | 673 | 452 | |
Residential real estate properties foreclosure proceedings | $ 512 | $ 138 |
Loans - Impaired Loans Classifi
Loans - Impaired Loans Classified as Troubled Debt Restructured (Detail) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016USD ($)Contract | Jun. 30, 2015USD ($)Contract | |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts Modified in the Last 3 Months | Contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 25 | |
Post-Modification Outstanding Recorded Investment | $ 24 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts Modified in the Last 3 Months | Contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 528 | |
Post-Modification Outstanding Recorded Investment | $ 430 | |
Consumer Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts Modified in the Last 3 Months | Contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 138 | |
Post-Modification Outstanding Recorded Investment | $ 138 |
Loans - Loans Individually Eval
Loans - Loans Individually Evaluated for Impairment by Portfolio Class of Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | ||||||
With no related allowance recorded, Recorded Investment | $ 997 | $ 1,257 | $ 3,239 | $ 997 | $ 3,239 | $ 1,257 |
With a specific allowance recorded, Recorded Investment | 622 | 879 | 1,783 | 622 | 1,783 | 879 |
With a specific allowance recorded, Related Allowance | 217 | 330 | 475 | 217 | 475 | 330 |
Recorded Investment | 1,619 | 2,136 | 5,022 | 1,619 | 5,022 | 2,136 |
Related Allowance | 217 | 330 | 475 | 217 | 475 | 330 |
Average Recorded Investment | 1,899 | $ 2,207 | 3,435 | 1,995 | 2,451 | $ 2,509 |
Agricultural Real Estate [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
With no related allowance recorded, Recorded Investment | 162 | 222 | 162 | 222 | ||
With no related allowance recorded, Unpaid Principal Balance | 162 | 222 | 162 | 222 | ||
With no related allowance recorded, Average Recorded Investment | 162 | 74 | 162 | 37 | ||
With no related allowance recorded, Interest Income Recognized | 1 | |||||
Recorded Investment | 162 | 222 | 162 | 222 | ||
Unpaid Principal Balance | 162 | 222 | 162 | 222 | ||
Average Recorded Investment | 162 | 74 | 162 | 37 | ||
Interest Income Recognized | 1 | |||||
Consumer Real Estate [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
With no related allowance recorded, Recorded Investment | 40 | 557 | 40 | 557 | ||
With no related allowance recorded, Unpaid Principal Balance | 40 | 557 | 40 | 557 | ||
With no related allowance recorded, Average Recorded Investment | 25 | 145 | 91 | 159 | ||
With a specific allowance recorded, Recorded Investment | 414 | 121 | 414 | 121 | ||
With a specific allowance recorded, Unpaid Principal Balance | 414 | 121 | 414 | 121 | ||
With a specific allowance recorded, Related Allowance | 61 | 39 | 61 | 39 | ||
With a specific allowance recorded, Average Recorded Investment | 478 | 120 | 392 | 108 | ||
With a specific allowance recorded, Interest Income Recognized | 7 | 11 | ||||
With a specific allowance recorded, Interest Income Recognized Cash Basis | 6 | 1 | 9 | 4 | ||
Recorded Investment | 454 | 678 | 454 | 678 | ||
Unpaid Principal Balance | 454 | 678 | 454 | 678 | ||
Related Allowance | 61 | 39 | 61 | 39 | ||
Average Recorded Investment | 503 | 265 | 483 | 267 | ||
Interest Income Recognized | 7 | 11 | ||||
Interest Income Recognized Cash Basis | 6 | 1 | 9 | 4 | ||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
With no related allowance recorded, Recorded Investment | 346 | 1,460 | 346 | 1,460 | ||
With no related allowance recorded, Unpaid Principal Balance | 346 | 1,546 | 346 | 1,546 | ||
With no related allowance recorded, Average Recorded Investment | 346 | 634 | 378 | 317 | ||
With no related allowance recorded, Interest Income Recognized | 6 | 14 | ||||
With no related allowance recorded, Interest Income Recognized Cash Basis | 6 | 9 | 13 | 9 | ||
With a specific allowance recorded, Recorded Investment | 90 | 1,339 | 90 | 1,339 | ||
With a specific allowance recorded, Unpaid Principal Balance | 90 | 1,339 | 90 | 1,339 | ||
With a specific allowance recorded, Related Allowance | 90 | 235 | 90 | 235 | ||
With a specific allowance recorded, Average Recorded Investment | 311 | 1,340 | 366 | 1,096 | ||
With a specific allowance recorded, Interest Income Recognized | 7 | 8 | ||||
Recorded Investment | 436 | 2,799 | 436 | 2,799 | ||
Unpaid Principal Balance | 436 | 2,885 | 436 | 2,885 | ||
Related Allowance | 90 | 235 | 90 | 235 | ||
Average Recorded Investment | 657 | 1,974 | 744 | 1,413 | ||
Interest Income Recognized | 6 | 7 | 14 | 8 | ||
Interest Income Recognized Cash Basis | 6 | 9 | 13 | 9 | ||
Consumer [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
With a specific allowance recorded, Average Recorded Investment | 4 | |||||
Average Recorded Investment | 4 | |||||
Commercial and Industrial [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
With no related allowance recorded, Recorded Investment | 449 | 1,000 | 449 | 1,000 | ||
With no related allowance recorded, Unpaid Principal Balance | 449 | 1,364 | 449 | 1,364 | ||
With no related allowance recorded, Average Recorded Investment | 450 | 798 | 452 | 399 | ||
With no related allowance recorded, Interest Income Recognized | 6 | 13 | 12 | 13 | ||
With a specific allowance recorded, Recorded Investment | 118 | 323 | 118 | 323 | ||
With a specific allowance recorded, Unpaid Principal Balance | 118 | 323 | 118 | 323 | ||
With a specific allowance recorded, Related Allowance | 66 | 201 | 66 | 201 | ||
With a specific allowance recorded, Average Recorded Investment | 127 | 324 | 154 | 331 | ||
Recorded Investment | 567 | 1,323 | 567 | 1,323 | ||
Unpaid Principal Balance | 567 | 1,687 | 567 | 1,687 | ||
Related Allowance | 66 | 201 | 66 | 201 | ||
Average Recorded Investment | 577 | 1,122 | 606 | 730 | ||
Interest Income Recognized | $ 6 | $ 13 | $ 12 | $ 13 |
Loans - Summary of Activities i
Loans - Summary of Activities in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2014 | |
Allowance for Loan & Lease Losses | ||||||||
Balance at beginning of year | $ 6,057 | $ 5,905 | $ 5,905 | |||||
Provision for loan loss | $ 339 | $ 183 | 616 | 297 | 625 | |||
Loans charged off | (174) | (529) | (258) | (621) | (1,030) | |||
Recoveries | 43 | 296 | 78 | 346 | 557 | |||
Allowance for Loan & Lease Losses | 6,493 | 6,493 | 6,057 | |||||
Allowance for Unfunded Loan Commitments & Letters of Credit | 219 | 219 | 208 | |||||
Total Allowance for Credit Losses | $ 6,712 | $ 6,128 | $ 6,712 | $ 6,128 | $ 6,265 | $ 6,505 | $ 6,179 | $ 6,112 |
Loans - Analysis of Allowance f
Loans - Analysis of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
ALLOWANCE FOR CREDIT LOSSES: | |||||
Beginning balance | $ 6,505 | $ 6,179 | $ 6,265 | $ 6,112 | $ 6,112 |
Charge Offs | (174) | (529) | (258) | (621) | (1,030) |
Recoveries | 43 | 296 | 78 | 346 | 557 |
Provision (Credit) | 339 | 183 | 616 | 297 | |
Other Non-interest expense related to unfunded | (1) | (1) | 11 | (6) | |
Ending Balance | 6,712 | 6,128 | 6,712 | 6,128 | 6,265 |
Ending balance: individually evaluated for impairment | 217 | 475 | 217 | 475 | |
Ending balance: collectively evaluated for impairment | 6,495 | 5,653 | 6,495 | 5,653 | |
Ending balance: loans acquired with deteriorated credit quality | 1 | 1 | 1 | 1 | |
FINANCING RECEIVABLES: | |||||
Ending balance | 731,691 | 620,591 | 731,691 | 620,591 | 685,878 |
Ending balance: individually evaluated for impairment | 1,619 | 5,022 | 1,619 | 5,022 | |
Ending balance: collectively evaluated for impairment | 730,072 | 615,569 | 730,072 | 615,569 | |
Agricultural Real Estate [Member] | |||||
ALLOWANCE FOR CREDIT LOSSES: | |||||
Beginning balance | 272 | 187 | 211 | 184 | 184 |
Provision (Credit) | (43) | 2 | 18 | 5 | |
Ending Balance | 229 | 189 | 229 | 189 | 211 |
Ending balance: collectively evaluated for impairment | 229 | 189 | 229 | 189 | |
FINANCING RECEIVABLES: | |||||
Ending balance | 61,353 | 52,614 | 61,353 | 52,614 | 58,463 |
Ending balance: individually evaluated for impairment | 162 | 222 | 162 | 222 | |
Ending balance: collectively evaluated for impairment | 61,191 | 52,392 | 61,191 | 52,392 | |
Agricultural [Member] | |||||
ALLOWANCE FOR CREDIT LOSSES: | |||||
Beginning balance | 548 | 524 | 582 | 547 | 547 |
Charge Offs | (18) | (18) | |||
Recoveries | 1 | 2 | 5 | 3 | |
Provision (Credit) | 60 | (7) | 22 | (31) | |
Ending Balance | 591 | 519 | 591 | 519 | 582 |
Ending balance: collectively evaluated for impairment | 591 | 519 | 591 | 519 | |
FINANCING RECEIVABLES: | |||||
Ending balance | 83,433 | 74,352 | 83,433 | 74,352 | 82,762 |
Ending balance: collectively evaluated for impairment | 83,433 | 74,352 | 83,433 | 74,352 | |
Commercial And Industrial and Industrial Development Bonds [Member] | |||||
ALLOWANCE FOR CREDIT LOSSES: | |||||
Beginning balance | 1,251 | 1,419 | 1,229 | 1,421 | 1,421 |
Charge Offs | (389) | (20) | (390) | ||
Recoveries | 3 | 17 | 5 | 23 | |
Provision (Credit) | (39) | 241 | 2 | 234 | |
Ending Balance | 1,215 | 1,288 | 1,215 | 1,288 | 1,229 |
Ending balance: individually evaluated for impairment | 66 | 201 | 66 | 201 | |
Ending balance: collectively evaluated for impairment | 1,149 | 1,087 | 1,149 | 1,087 | |
FINANCING RECEIVABLES: | |||||
Ending balance | 110,386 | 102,822 | 110,386 | 102,822 | 106,689 |
Ending balance: individually evaluated for impairment | 567 | 1,323 | 567 | 1,323 | |
Ending balance: collectively evaluated for impairment | 109,819 | 101,499 | 109,819 | 101,499 | |
Unfunded Loan Commitment & Letters of Credit [Member] | |||||
ALLOWANCE FOR CREDIT LOSSES: | |||||
Beginning balance | 220 | 202 | 208 | 207 | 207 |
Other Non-interest expense related to unfunded | (1) | (1) | 11 | (6) | |
Ending Balance | 219 | 201 | 219 | 201 | 208 |
Ending balance: collectively evaluated for impairment | 219 | 201 | 219 | 201 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
FINANCING RECEIVABLES: | |||||
Ending balance: loans acquired with deteriorated credit quality | 410 | 517 | 410 | 517 | |
Consumer Real Estate [Member] | |||||
ALLOWANCE FOR CREDIT LOSSES: | |||||
Beginning balance | 457 | 497 | 338 | 537 | 537 |
Charge Offs | (63) | (64) | |||
Recoveries | 19 | 25 | 21 | 27 | |
Provision (Credit) | (213) | 117 | (255) | ||
Ending Balance | 413 | 309 | 413 | 309 | 338 |
Ending balance: individually evaluated for impairment | 61 | 39 | 61 | 39 | |
Ending balance: collectively evaluated for impairment | 352 | 270 | 352 | 270 | |
Ending balance: loans acquired with deteriorated credit quality | 1 | 1 | 1 | 1 | |
FINANCING RECEIVABLES: | |||||
Ending balance | 88,791 | 86,641 | 88,791 | 86,641 | 87,947 |
Ending balance: individually evaluated for impairment | 454 | 678 | 454 | 678 | |
Ending balance: collectively evaluated for impairment | 88,337 | 85,963 | 88,337 | 85,963 | |
Consumer Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
FINANCING RECEIVABLES: | |||||
Ending balance: loans acquired with deteriorated credit quality | 410 | 517 | 410 | 517 | |
Commercial Real Estate [Member] | |||||
ALLOWANCE FOR CREDIT LOSSES: | |||||
Beginning balance | 2,678 | 2,212 | 2,516 | 2,367 | 2,367 |
Charge Offs | (85) | (3) | (85) | ||
Recoveries | 3 | 201 | 5 | 202 | |
Provision (Credit) | 36 | (42) | 199 | (198) | |
Ending Balance | 2,717 | 2,286 | 2,717 | 2,286 | 2,516 |
Ending balance: individually evaluated for impairment | 90 | 235 | 90 | 235 | |
Ending balance: collectively evaluated for impairment | 2,627 | 2,051 | 2,627 | 2,051 | |
FINANCING RECEIVABLES: | |||||
Ending balance | 357,243 | 279,002 | 357,243 | 279,002 | 322,230 |
Ending balance: individually evaluated for impairment | 436 | 2,799 | 436 | 2,799 | |
Ending balance: collectively evaluated for impairment | 356,807 | 276,203 | 356,807 | 276,203 | |
Consumer [Member] | |||||
ALLOWANCE FOR CREDIT LOSSES: | |||||
Beginning balance | 335 | 284 | 337 | 323 | 323 |
Charge Offs | (93) | (55) | (153) | (146) | |
Recoveries | 17 | 51 | 42 | 91 | |
Provision (Credit) | 106 | 29 | 139 | 41 | |
Ending Balance | 365 | 309 | 365 | 309 | 337 |
Ending balance: collectively evaluated for impairment | 365 | 309 | 365 | 309 | |
FINANCING RECEIVABLES: | |||||
Ending balance | 30,485 | 25,160 | 30,485 | 25,160 | 27,787 |
Ending balance: collectively evaluated for impairment | 30,485 | 25,160 | 30,485 | 25,160 | |
Unallocated [Member] | |||||
ALLOWANCE FOR CREDIT LOSSES: | |||||
Beginning balance | 744 | 854 | 844 | 526 | 526 |
Provision (Credit) | 219 | 173 | 119 | 501 | |
Ending Balance | 963 | 1,027 | 963 | 1,027 | $ 844 |
Ending balance: collectively evaluated for impairment | $ 963 | $ 1,027 | $ 963 | $ 1,027 |
Earnings Per Share - Calculatio
Earnings Per Share - Calculation of Basic Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Earnings Per Share [Abstract] | ||||
Net income | $ 2,974 | $ 2,597 | $ 5,455 | $ 4,948 |
Less: distributed earnings allocated to participating securities | (9) | (7) | (17) | (14) |
Less: undistributed earnings allocated to participating securities | (15) | (11) | (28) | (21) |
Net earnings available to common shareholders | $ 2,950 | $ 2,579 | $ 5,410 | $ 4,913 |
Weighted average common shares outstanding including participating securities | 4,605,534 | 4,608,453 | 4,607,380 | 4,615,846 |
Less: average unvested restricted shares | (37,905) | (32,815) | (38,287) | (32,869) |
Weighted average common shares outstanding | 4,567,629 | 4,575,638 | 4,569,093 | 4,582,977 |
Basic earnings and diluted per share | $ 0.65 | $ 0.56 | $ 1.18 | $ 1.07 |
Fair Value of Instruments - Add
Fair Value of Instruments - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Interest-bearing deposits maturing date | 90 days | ||
Fair value of collateral dependent impaired loans categorized as Level 3 | $ 1,619,000 | $ 2,136,000 | $ 5,022,000 |
Specific allocation for collateral dependent impaired loans | 217,000 | 330,000 | $ 475,000 |
Asset impairment charges | 0 | 0 | |
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value of collateral dependent impaired loans categorized as Level 3 | $ 400,000 | $ 500,000 |
Fair Value of Instruments - Est
Fair Value of Instruments - Estimated Fair Values and Related Carrying or Notional Amounts (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financial Assets: | ||||
Cash and Cash Equivalents | $ 23,379 | $ 22,018 | $ 22,087 | $ 24,295 |
Interest-bearing time deposits | 1,960 | |||
Securities - available-for-sale | 217,063 | 235,115 | ||
Other Securities | 3,717 | 3,717 | ||
Loans, net | 725,198 | 679,821 | ||
Financial Liabilities: | ||||
Non-interest bearing Deposits | 170,126 | 171,112 | ||
Time Deposits | 191,250 | 184,285 | ||
Total deposits | 802,846 | 771,339 | ||
Fed Funds purchased and Securities sold under agreements to repurchase | 75,942 | 78,815 | ||
Federal Home Loan Bank advances | 10,000 | 10,000 | ||
Carrying Amount [Member] | ||||
Financial Assets: | ||||
Cash and Cash Equivalents | 23,379 | 22,018 | ||
Interest-bearing time deposits | 1,960 | |||
Securities - available-for-sale | 217,063 | 235,115 | ||
Other Securities | 3,717 | 3,717 | ||
Loans, net | 725,198 | 679,821 | ||
Interest receivable | 3,785 | 3,589 | ||
Financial Liabilities: | ||||
Interest bearing Deposits | 441,470 | 415,942 | ||
Non-interest bearing Deposits | 170,126 | 171,112 | ||
Time Deposits | 191,250 | 184,285 | ||
Total deposits | 802,846 | 771,339 | ||
Fed Funds purchased and Securities sold under agreements to repurchase | 75,942 | 78,815 | ||
Federal Home Loan Bank advances | 10,000 | 10,000 | ||
Interest payable | 229 | 185 | ||
Fair Value [Member] | ||||
Financial Assets: | ||||
Cash and Cash Equivalents | 23,379 | 22,018 | ||
Interest-bearing time deposits | 1,960 | |||
Securities - available-for-sale | 217,063 | 235,115 | ||
Other Securities | 3,717 | 3,717 | ||
Loans, net | 728,789 | 683,332 | ||
Interest receivable | 3,785 | 3,589 | ||
Financial Liabilities: | ||||
Interest bearing Deposits | 441,470 | 415,942 | ||
Non-interest bearing Deposits | 170,126 | 171,112 | ||
Time Deposits | 191,415 | 184,308 | ||
Total deposits | 803,011 | 771,362 | ||
Fed Funds purchased and Securities sold under agreements to repurchase | 75,942 | 78,815 | ||
Federal Home Loan Bank advances | 10,041 | 9,986 | ||
Interest payable | 229 | 185 | ||
Level 1 [Member] | ||||
Financial Assets: | ||||
Cash and Cash Equivalents | 23,379 | 22,018 | ||
Securities - available-for-sale | 26,124 | 38,505 | ||
Level 2 [Member] | ||||
Financial Assets: | ||||
Interest-bearing time deposits | 1,960 | |||
Securities - available-for-sale | 189,433 | 189,258 | ||
Financial Liabilities: | ||||
Non-interest bearing Deposits | 170,126 | 171,112 | ||
Total deposits | 170,126 | 171,112 | ||
Level 3 [Member] | ||||
Financial Assets: | ||||
Securities - available-for-sale | 1,506 | 7,352 | ||
Other Securities | 3,717 | 3,717 | ||
Loans, net | 728,789 | 683,332 | ||
Interest receivable | 3,785 | 3,589 | ||
Financial Liabilities: | ||||
Interest bearing Deposits | 441,470 | 415,942 | ||
Time Deposits | 191,415 | 184,308 | ||
Total deposits | 632,885 | 600,250 | ||
Fed Funds purchased and Securities sold under agreements to repurchase | 75,942 | 78,815 | ||
Federal Home Loan Bank advances | 10,041 | 9,986 | ||
Interest payable | $ 229 | $ 185 |
Fair Value of Instruments - Fin
Fair Value of Instruments - Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | $ 217,063 | $ 235,115 | ||
U.S. Treasury [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 26,124 | 38,505 | ||
U.S. Government Agencies [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 93,493 | 98,220 | ||
Mortgage-backed Securities [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 32,711 | 26,324 | ||
State and Local Governments [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 64,735 | 72,066 | ||
Level 1 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 26,124 | 38,505 | ||
Level 1 [Member] | Fair Value on a Recurring Basis [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 26,124 | 38,505 | ||
Level 1 [Member] | U.S. Treasury [Member] | Fair Value on a Recurring Basis [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 26,124 | 38,505 | ||
Level 2 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 189,433 | 189,258 | ||
Level 2 [Member] | Fair Value on a Recurring Basis [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 189,433 | 189,258 | ||
Level 2 [Member] | U.S. Government Agencies [Member] | Fair Value on a Recurring Basis [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 93,493 | 98,220 | ||
Level 2 [Member] | Mortgage-backed Securities [Member] | Fair Value on a Recurring Basis [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 32,711 | 26,324 | ||
Level 2 [Member] | State and Local Governments [Member] | Fair Value on a Recurring Basis [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 63,229 | 64,714 | ||
Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 1,506 | 7,352 | ||
Level 3 [Member] | Fair Value on a Recurring Basis [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 1,506 | 7,352 | ||
Level 3 [Member] | State and Local Governments [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | 1,506 | 7,352 | $ 7,815 | $ 7,931 |
Level 3 [Member] | State and Local Governments [Member] | Fair Value on a Recurring Basis [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Total Securities Available for Sale | $ 1,506 | $ 7,352 |
Fair Value of Instruments - Cha
Fair Value of Instruments - Changes in the Level 3 Fair Value Category of Unobservable Inputs (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | $ 235,115 | |
Ending Balance | 217,063 | |
State and Local Governments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 72,066 | |
Ending Balance | 64,735 | |
Level 3 [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 7,352 | |
Ending Balance | 1,506 | |
Level 3 [Member] | State and Local Governments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 7,352 | $ 7,931 |
Change in Market Value | 58 | 84 |
Payments & Maturities | (5,904) | (200) |
Ending Balance | 1,506 | 7,815 |
Level 3 [Member] | State and Local Governments [Member] | Tax - Exempt [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 5,904 | 6,638 |
Change in Market Value | (6) | |
Payments & Maturities | (5,904) | (200) |
Ending Balance | 6,432 | |
Level 3 [Member] | State and Local Governments [Member] | Taxable [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 1,448 | 1,293 |
Change in Market Value | 58 | 90 |
Ending Balance | $ 1,506 | $ 1,383 |
Fair Value of Instruments - Qua
Fair Value of Instruments - Quantitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
State and Local Governments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 1,506 | $ 7,352 |
Valuation Technique | Discounted cash flow | |
Unobservable Inputs | Credit strength of underlying project or entity / Discount rate | |
Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 405 | 549 |
Valuation Technique | Collateral based measurements | |
Unobservable Inputs | Discount to reflect current market conditions and ultimate collectability | |
Other Real Estate Owned - Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 216 | |
Minimum [Member] | State and Local Governments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average | 0.00% | 0.00% |
Minimum [Member] | Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average | 0.00% | 0.00% |
Minimum [Member] | Other Real Estate Owned - Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average | 0.00% | |
Maximum [Member] | State and Local Governments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average | 5.00% | 5.00% |
Maximum [Member] | Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average | 50.00% | 50.00% |
Maximum [Member] | Other Real Estate Owned - Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average | 20.00% |
Fair Value of Instruments - Col
Fair Value of Instruments - Collateral Dependent Impaired Loans and Other Real Estate (Detail) - Fair Value on Nonrecurring Basis [Member] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis, Total | $ 405 | $ 549 |
Other Real Estate Owned - Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis, Total | 216 | |
Level 3 [Member] | Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis, Total | $ 405 | 549 |
Level 3 [Member] | Other Real Estate Owned - Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis, Total | $ 216 |
Federal Funds Purchased and S48
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Fees And Commissions Income [Abstract] | ||
Federal funds purchased | $ 18,592 | $ 22,000 |
Securities sold under agreements to repurchase | $ 57,000 | $ 57,000 |
Federal Funds Purchased and S49
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase - Schedule of Remaining Contractual Maturity in Repurchase Agreements (Detail) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Federal funds purchased | $ 18,592 | $ 22,000 |
Repurchase agreements, Remaining contractual maturity of the agreements | 57,000 | 57,000 |
Total | 75,942 | 78,815 |
US Treasury & Agency Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase agreements, Remaining contractual maturity of the agreements | 57,350 | 56,815 |
Overnight & Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Federal funds purchased | 18,592 | 22,000 |
Total | 55,633 | 61,691 |
Overnight & Continuous [Member] | US Treasury & Agency Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase agreements, Remaining contractual maturity of the agreements | 37,041 | 39,691 |
Greater Than 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total | 20,309 | 17,124 |
Greater Than 90 Days [Member] | US Treasury & Agency Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase agreements, Remaining contractual maturity of the agreements | $ 20,309 | $ 17,124 |