Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 25, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
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 | 9,265,980 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Assets | |||
Cash and due from banks | $ 39,349 | $ 33,480 | |
Federal funds sold | 559 | 987 | |
Total cash and cash equivalents | 39,908 | 34,467 | |
Interest-bearing time deposits | 4,019 | 4,018 | |
Securities - available-for-sale | 192,859 | 196,398 | |
Other securities, at cost | 3,717 | 3,717 | |
Loans held for sale | 2,769 | 1,221 | |
Loans, net | 827,937 | 816,156 | |
Premises and equipment | 21,980 | 21,726 | |
Goodwill | 4,074 | 4,074 | |
Mortgage servicing rights | 2,313 | 2,299 | |
Other real estate owned | 651 | 674 | |
Bank owned life insurance | 14,604 | 14,523 | |
Other assets | 8,911 | 7,736 | |
Total Assets | 1,123,742 | 1,107,009 | |
Deposits | |||
Noninterest-bearing | 193,665 | 199,114 | |
Interest-bearing | |||
NOW accounts | 327,433 | 298,711 | |
Savings | 245,895 | 233,949 | |
Time | 186,345 | 187,566 | |
Total deposits | 953,338 | 919,340 | |
Federal funds purchased and securities sold under agreements to repurchase | 23,307 | 39,495 | |
Federal Home Loan Bank (FHLB) advances | 5,000 | 5,000 | |
Dividend payable | 1,193 | 1,193 | |
Accrued expenses and other liabilities | 6,027 | 7,844 | |
Total liabilities | 988,865 | 972,872 | |
Commitments and Contingencies | |||
Stockholders' Equity | |||
Common stock - No par value 20,000,000 shares authorized; issued and outstanding 10,400,000 shares 3/31/18 and 12/31/17 (1) | [1] | 11,690 | 11,546 |
Treasury stock - 1,134,020 shares 3/31/18, 1,134,120 shares 12/31/17 (1) | [1] | (12,158) | (12,160) |
Retained earnings | 139,483 | 136,577 | |
Accumulated other comprehensive loss | (4,138) | (1,826) | |
Total stockholders' equity | 134,877 | 134,137 | |
Total Liabilities and Stockholders' Equity | $ 1,123,742 | $ 1,107,009 | |
[1] | Share data has been adjusted to reflect a 2-for-1 stock split on September 20, 2017 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) | Sep. 20, 2017$ / shares | Mar. 31, 2018$ / sharesshares | Dec. 31, 2017$ / sharesshares |
Statement of Financial Position [Abstract] | |||
Common stock, no par value | $ / shares | |||
Common stock, shares authorized | 20,000,000 | 20,000,000 | |
Common stock, shares issued | 10,400,000 | 10,400,000 | |
Common stock, shares outstanding | 10,400,000 | 10,400,000 | |
Share stock split ratio | 2 | ||
Treasury Stock, shares | 1,134,020 | 1,134,120 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Interest Income | |||
Loans, including fees | $ 10,102 | $ 8,700 | |
Debt securities: | |||
U.S. Treasury and government agencies | 623 | 642 | |
Municipalities | 281 | 315 | |
Dividends | 55 | 42 | |
Federal funds sold | 15 | ||
Other | 60 | 22 | |
Total interest income | 11,136 | 9,721 | |
Interest Expense | |||
Deposits | 1,319 | 1,030 | |
Federal funds purchased and securities sold under agreements to repurchase | 124 | 113 | |
Borrowed funds | 20 | 36 | |
Total interest expense | 1,463 | 1,179 | |
Net Interest Income - Before Provision for Loan Losses | 9,673 | 8,542 | |
Provision for Loan Losses | 40 | 73 | |
Net Interest Income After Provision For Loan Losses | 9,633 | 8,469 | |
Noninterest Income | |||
Customer service fees | 1,466 | 1,481 | |
Other service charges and fees | 1,012 | 871 | |
Net gain on sale of loans | 132 | 201 | |
Net gain on sale of available-for-salesecurities | 31 | ||
Total noninterest income | 2,610 | 2,584 | |
Noninterest Expense | |||
Salaries and wages | 3,310 | 3,001 | |
Employee benefits | 1,136 | 922 | |
Net occupancy expense | 387 | 413 | |
Furniture and equipment | 507 | 472 | |
Data processing | 331 | 311 | |
ATM expense | 312 | 305 | |
Advertising | 186 | 175 | |
Franchise taxes | 239 | 225 | |
Net loss on sale of other assets owned | 17 | ||
FDIC assessment | 87 | 83 | |
Mortgage servicing rights amortization | 85 | 84 | |
Other general and administrative | 1,043 | 1,080 | |
Total noninterest expense | 7,640 | 7,071 | |
Income Before Income Taxes | 4,603 | 3,982 | |
Income Taxes | 836 | 1,143 | |
Net Income | $ 3,767 | $ 2,839 | |
Net Income Per Share | [1] | $ 0.41 | $ 0.31 |
Dividends Declared | [1] | $ 0.13 | $ 0.12 |
[1] | Share data has been adjusted to reflect a 2-for-1 stock split on September 20, 2017 |
Condensed Consolidated Stateme5
Condensed Consolidated Statement of Income (Parenthetical) | Sep. 20, 2017 |
Income Statement [Abstract] | |
Share stock split ratio | 2 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 3,767 | $ 2,839 |
Other Comprehensive Income (Loss) (Net of Tax): | ||
Net unrealized gain (loss) on available-for-salesecurities | (2,471) | 412 |
Reclassification adjustment for gain on sale of available-for-sale securities | (31) | |
Net unrealized gain (loss) on available-for-salesecurities | (2,471) | 381 |
Tax expense (benefit) | (519) | 129 |
Other comprehensive income (loss) | (1,952) | 252 |
Comprehensive Income | $ 1,815 | $ 3,091 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash Flows from Operating Activities | ||
Net income | $ 3,767 | $ 2,839 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 448 | 455 |
Amortization on available-for-sale securities, net | 252 | 293 |
Amortization of servicing rights | 85 | 84 |
Amortization of core deposit intangible | 42 | 81 |
Compensation expense related to stock awards | 160 | 111 |
Deferred income taxes | (519) | 128 |
Provision for loan loss | 40 | 73 |
Gain on sale of loans held for sale | (132) | (201) |
Originations of loans held for sale | (11,626) | (14,404) |
Proceeds from sale of loans held for sale | 9,971 | 16,307 |
Loss on sale of other assets owned | 17 | |
Gain on sales of securities available-for-sale | (31) | |
Change in other assets and other liabilities, net | (3,496) | (321) |
Net cash provided by (used in) operating activities | (991) | 5,414 |
Activity in available-for-sale securities: | ||
Maturities, prepayments and calls | 2,094 | 7,712 |
Sales | 5,577 | |
Purchases | (1,308) | (1,031) |
Proceeds from sale of other assets owned | 5 | |
Change in interest-bearing time deposits | 1 | 70 |
Additions to premises and equipment | (811) | (220) |
Loan originations and principal collections, net | (10,166) | (15,022) |
Net cash used in investing activities | (10,185) | (2,914) |
Cash Flows from Financing Activities | ||
Net change in deposits | 33,998 | 52,488 |
Net change in federal funds purchased and securities sold under agreements to repurchase | (16,188) | (42,363) |
Cash dividends paid on common stock | (1,193) | (1,053) |
Net cash provided by financing activities | 16,617 | 9,072 |
Net Increase in Cash and Cash Equivalents | 5,441 | 11,572 |
Cash and cash equivalents - Beginning of year | 34,467 | 28,322 |
Cash and cash equivalents - End of period | 39,908 | 39,894 |
Cash paid during the year for: | ||
Interest | 1,479 | 1,193 |
Income taxes | 0 | 0 |
Non cash investing activities: | ||
Transfer of loans to other real estate owned | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
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 S-X; 2-for-1 10-K |
Asset Purchases
Asset Purchases | 3 Months Ended |
Mar. 31, 2018 | |
Business Combinations [Abstract] | |
Asset Purchases | NOTE 2 ASSET PURCHASES The Company purchased an office 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, 2017 was $245 thousand, which included the remaining $78 thousand from the purchase of the Hicksville office on July 9, 2010. Of the $167 thousand to be expensed in 2018, $42 thousand has been expensed for the three months ended March 31, 2018. (In Thousands) Custar 2018 $ 167 2019 167 2020 161 $ 495 |
Securities
Securities | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 3 SECURITIES The amortized cost and fair value of securities, with gross unrealized gains and losses at March 31, 2018 and December 31, 2017, follows: (In Thousands) March 31, 2018 Amortized Gross Gross Fair Value Available-for-Sale: U.S. Treasury $ 21,193 $ — $ (354 ) $ 20,839 U.S. Government agencies 82,184 — (2,691 ) 79,493 Mortgage-backed securities 38,283 30 (1,451 ) 36,862 State and local governments 56,436 357 (1,128 ) 55,665 Total available-for-sale $ 198,096 $ 387 $ (5,624 ) $ 192,859 (In Thousands) December 31, 2017 Amortized Gross Gross Fair Value Available-for-Sale: U.S. Treasury $ 21,219 $ — $ (241 ) $ 20,978 U.S. Government agencies 82,198 — (1,732 ) 80,466 Mortgage-backed securities 40,236 64 (790 ) 39,510 State and local governments 55,512 437 (505 ) 55,444 Total available-for-sale $ 199,165 $ 501 $ (3,268 ) $ 196,398 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 March 31, 2018 and December 31, 2017, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows: (In Thousands) March 31, 2018 Less Than Twelve Months Twelve Months & Over Gross Unrealized Fair Gross Unrealized Fair U.S. Treasury $ (87 ) $ 6,877 $ (267 ) $ 13,962 U.S. Government agencies (619 ) 27,015 (2,072 ) 52,478 Mortgage-backed securities (173 ) 8,977 (1,278 ) 26,477 State and local governments (525 ) 32,785 (603 ) 11,212 Total available-for-sale $ (1,404 ) $ 75,654 $ (4,220 ) $ 104,129 (In Thousands) December 31, 2017 Less Than Twelve Months Twelve Months & Over Gross Unrealized Fair Gross Unrealized Fair U.S. Treasury $ (36 ) $ 6,924 $ (205 ) $ 14,054 U.S. Government agencies (314 ) 27,328 (1,418 ) 53,139 Mortgage-backed securities (70 ) 7,149 (720 ) 28,080 State and local governments (205 ) 24,999 (300 ) 11,567 Total available-for-sale $ (625 ) $ 66,400 $ (2,643 ) $ 106,840 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 for the three months ended March 31. Three Months (In Thousands) 2018 2017 Gross realized gains $ — $ 31 Gross realized losses — — Net realized gains $ — $ 31 Tax expense related to net realized gains $ — $ 11 The net realized gains on sales and related tax expense is a reclassification out of accumulated other comprehensive income (loss). The net realized gain is included in net gain on sale of available-for-sale The amortized cost and fair value of debt securities at March 31, 2018, 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 $ 21,660 $ 21,626 After one year through five years 84,900 83,471 After five years through ten years 50,406 48,228 After ten years 2,847 2,672 Total $ 159,813 $ 155,997 Mortgage-backed securities 38,283 36,862 Total $ 198,096 $ 192,859 Investments with a carrying value of $82.1 million and $82.9 million at March 31, 2018 and December 31, 2017, 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 March 31, 2018 and December 31, 2017. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loans | NOTE 4 LOANS Loan balances as of March 31, 2018 and December 31, 2017: (In Thousands) Loans: March 31, 2018 December 31, 2017 Consumer Real Estate $ 84,501 $ 83,620 Agricultural Real Estate 67,596 64,073 Agricultural 99,836 95,111 Commercial Real Estate 415,296 410,520 Commercial and Industrial 123,439 126,275 Consumer 38,569 37,757 Industrial Development Bonds 6,350 6,415 835,587 823,771 Less: Net deferred loan fees and costs (850 ) (747 ) 834,737 823,024 Less: Allowance for loan losses (6,800 ) (6,868 ) Loans - Net $ 827,937 $ 816,156 The following is a contractual maturity schedule by major category of loans as of March 31, 2018: (In Thousands) Within After One After Consumer Real Estate $ 3,701 $ 14,131 $ 66,669 Agricultural Real Estate 978 6,055 60,563 Agricultural 61,155 27,656 11,025 Commercial Real Estate 18,333 140,155 256,808 Commercial and Industrial 65,252 41,008 17,179 Consumer 5,346 24,530 8,693 Industrial Development Bonds 800 65 5,485 The distribution of fixed rate loans and variable rate loans by major loan category is as follows as of March 31, 2018: (In Thousands) Fixed Rate Variable Consumer Real Estate $ 41,497 $ 43,004 Agricultural Real Estate 49,003 18,593 Agricultural 35,722 64,114 Commercial Real Estate 258,969 156,327 Commercial and Industrial 46,137 77,302 Consumer 33,838 4,731 Industrial Development Bonds 6,350 — As of March 31, 2018 and December 31, 2017 one to four family residential mortgage loans amounting to $17.5 and $17.3 million, respectively, have been pledged as security for future loans and existing 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. [Remainder of this page intentionally left blank] The following table represents the contractual aging of the recorded investment (in thousands) in past due loans by portfolio classification of loans as of March 31, 2018 and December 31, 2017, net of deferred loan fees and costs: March 31, 2018 30-59 Days 60-89 Days Greater Than Total Current Total Recorded Consumer Real Estate $ 461 $ 0 $ 95 $ 556 $ 83,496 $ 84,052 $ — Agricultural Real Estate 18 — — 18 67,551 67,569 — Agricultural — — — — 99,954 99,954 — Commercial Real Estate — — 1 1 414,665 414,666 — Commercial and Industrial 115 — — 115 129,750 129,865 — Consumer 38 5 — 43 38,588 38,631 — Total $ 632 $ 5 $ 96 $ 733 $ 834,004 $ 834,737 $ 0 December 31, 2017 30-59 Days 60-89 Days Greater Than Total Current Total Recorded Consumer Real Estate $ 565 $ 212 $ 113 $ 890 $ 82,310 $ 83,200 $ — Agricultural Real Estate — — 101 101 63,943 64,044 — Agricultural — — — — 95,238 95,238 — Commercial Real Estate — — 38 38 409,915 409,953 — Commercial and Industrial — 42 — 42 132,745 132,787 — Consumer 34 2 7 43 37,759 37,802 — Total $ 599 $ 256 $ 259 $ 1,114 $ 821,910 $ 823,024 $ 0 The following table presents the recorded investment in nonaccrual loans by class of loans as of March 31, 2018 and December 31, 2017: (In Thousands) March 31, December 31, Consumer Real Estate $ 790 $ 708 Agricultural Real Estate — 101 Agricultural — — Commercial Real Estate 1 38 Commercial & Industrial 109 149 Consumer — 7 Total $ 900 $ 1,003 Following are the characteristics and underwriting criteria for each major type of loan the Bank offers: 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. 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. Agricultural: Loans for the production and housing of crops, fruits, vegetables, and livestock or to fund the purchase or re-finance Commercial Real Estate: Construction, purchase, and refinance of business purpose real estate. Risks include potential construction delays and overruns, vacancies, collateral value subject to market value fluctuations, interest rate, market demands, borrower’s ability to repay in orderly 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 before granting loan approval. 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. Industrial Development Bonds (IDB): 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. 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. 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. [Remainder of this page intentionally left blank] 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 March 31, 2018 and December 31, 2017: (In Thousands) Agricultural Agricultural Commercial Commercial Industrial March 31, 2018 1-2 $ 4,076 $ 2,109 $ 1,167 $ 9,065 $ — 3 13,087 34,434 31,227 16,752 3,460 4 49,057 62,856 365,841 95,150 2,890 5 1,335 555 7,676 1,696 — 6 14 — 8,755 743 — 7 — — — 109 — 8 — — — — — Total $ 67,569 $ 99,954 $ 414,666 $ 123,515 $ 6,350 Agricultural Agricultural Commercial Commercial Industrial December 31, 2017 1-2 $ 4,143 $ 6,558 $ 1,244 $ 9,205 $ — 3 15,244 37,267 32,498 15,277 3,489 4 43,416 51,312 359,600 99,581 2,926 5 1,125 101 7,758 1,381 — 6 116 — 8,853 817 — 7 — — — 111 — 8 — — — — — Total $ 64,044 $ 95,238 $ 409,953 $ 126,372 $ 6,415 For consumer residential real estate, and other, the Company also evaluates credit quality based on the aging status of the loan, as 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 March 31, 2018 and December 31, 2017. (In Thousands) Consumer Consumer March 31, December 31, Grade Pass $ 83,716 $ 82,632 Special Mention (5) — — Substandard (6) 256 488 Doubtful (7) 80 80 Total $ 84,052 $ 83,200 (In Thousands) Consumer - Credit Consumer - Other March 31, December 31, March 31, December 31, Performing $ 3,826 $ 4,108 $ 34,791 $ 33,666 Nonperforming — — 14 28 Total $ 3,826 $ 4,108 $ 34,805 $ 33,694 Information about impaired loans as of March 31, 2018, December 31, 2017 and March 31, 2017 are as follows: (In Thousands) March 31, 2018 December 31, 2017 March 31, 2017 Impaired loans without a valuation $ 999 $ 1,131 $ 1,099 Impaired loans with a valuation allowance 607 614 694 Total impaired loans $ 1,606 $ 1,745 $ 1,793 Valuation allowance related to impaired $ 104 $ 106 $ 117 Total non-accrual $ 900 $ 1,003 $ 1,430 Total loans past-due $ — $ — $ — Quarter ended average investment in $ 1,688 $ 2,160 $ 1,832 Year to date average investment in $ 1,688 $ 1,885 $ 1,832 No additional funds are committed to be advanced in connection with impaired loans. The Bank had approximately $527 thousand of its impaired loans classified as troubled debt restructured (TDR) as of March 31, 2018, $534 thousand as of December 31, 2017 and $551 thousand as of March 31, 2017. During the year to date 2018 and 2017, there were no new loans considered TDR. For the three month period ended March 31, 2018 and 2017, 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 The Bank uses the following guidelines as stated in policy to determine when to realize a charge-off, charge-off work-out charge-off [Remainder of this page intentionally left blank] The following tables present loans individually evaluated for impairment by class of loans for three months ended March 31, 2018 and March 31, 2017. (In Thousands) Three Months Ended March 31, 2018 Recorded Unpaid Related QTD QTD QTD With no related allowance recorded: Consumer Real Estate $ 489 $ 489 $ — $ 492 $ 8 $ 6 Agricultural Real Estate — — — 67 — — Agricultural — — — — — — Commercial Real Estate 200 200 — 201 3 — Commercial and Industrial 310 310 — 209 4 — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 80 80 20 80 — — Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 418 418 42 420 4 — Commercial and Industrial 109 109 42 219 — — Consumer — — — — — — Totals: Consumer Real Estate $ 569 $ 569 $ 20 $ 572 $ 8 $ 6 Agricultural Real Estate $ — $ — $ — $ 67 $ — $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 618 $ 618 $ 42 $ 621 $ 7 $ — Commercial and Industrial $ 419 $ 419 $ 42 $ 428 $ 4 $ — Consumer $ — $ — $ — $ — $ — $ — [Remainder of this page intentionally left blank] (In Thousands) Three Months Ended March 31, 2017 Recorded Unpaid Related QTD QTD QTD With no related allowance recorded: Consumer Real Estate $ 998 $ 998 $ — $ 1,003 $ 8 $ 6 Agricultural Real Estate 101 101 — 121 — — Agricultural — — — — — — Commercial Real Estate — — — — — — Commercial and Industrial — — — — — — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 83 83 23 94 — — Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 496 496 61 498 5 — Commercial and Industrial 115 115 33 116 — — Consumer — — — — — — Totals: Consumer Real Estate $ 1,081 $ 1,081 $ 23 $ 1,097 $ 8 $ 6 Agricultural Real Estate $ 101 $ 101 $ — $ 121 $ — $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 496 $ 496 $ 61 $ 498 $ 5 $ — Commercial and Industrial $ 115 $ 115 $ 33 $ 116 $ — $ — Consumer $ — $ — $ — $ — $ — $ — As of March 31, 2018, the Company had $3 thousand of foreclosed residential real estate property obtained by physical possession and $49 thousand of consumer mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process according to local jurisdictions. As of March 31, 2017, the Company had $169 thousand of foreclosed residential real estate property obtained by physical possession and $190 thousand of consumer mortgage loans secured by residential real estate properties for which foreclosure proceedings were 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) Three Months Ended Twelve Months Ended Allowance for Loan & Lease Losses Balance at beginning of year $ 6,868 $ 6,784 Provision for loan loss 40 222 Loans charged off (145 ) (288 ) Recoveries 37 150 Allowance for Loan & Lease Losses $ 6,800 $ 6,868 Allowance for Unfunded Loan Commitments & Letters of Credit $ 265 $ 227 Total Allowance for Credit Losses $ 7,065 $ 7,095 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 March 31, 2018 and March 31, 2017 is as follows: Consumer Agricultural Agricultural Commercial Commercial Consumer Unfunded Unallocated Total Three Months Ended March 31, 2018 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 343 $ 244 $ 667 $ 3,149 $ 1,546 $ 441 $ 227 $ 478 $ 7,095 Charge Offs (34 ) — — (14 ) — (97 ) — — (145 ) Recoveries — — 3 2 2 30 — — 37 Provision (Credit) (55 ) 19 36 537 (105 ) 57 — (449 ) 40 Other Non-interest — — — — — — 38 — 38 Ending Balance $ 254 $ 263 $ 706 $ 3,674 $ 1,443 $ 431 $ 265 $ 29 $ 7,065 Ending balance: individually evaluated for impairment $ 20 $ — $ — $ 42 $ 42 $ — $ — $ — $ 104 Ending balance: collectively evaluated for impairment $ 234 $ 263 $ 706 $ 3,632 $ 1,401 $ 431 $ 265 $ 29 $ 6,961 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — $ — $ — FINANCING RECEIVABLES: Ending balance $ 84,052 $ 67,569 $ 99,954 $ 414,666 $ 129,865 $ 38,631 $ — $ — $ 834,737 Ending balance: individually evaluated for impairment $ 569 $ — $ — $ 618 $ 419 $ — $ — $ — $ 1,606 Ending balance: collectively evaluated for impairment $ 83,483 $ 67,569 $ 99,954 $ 414,048 $ 129,446 $ 38,631 $ — $ — $ 833,131 Ending balance: loans acquired with deteriorated credit quality $ 121 $ — $ — $ — $ — $ — $ — $ — $ 121 Consumer Agricultural Agricultural Commercial Commercial Consumer Unfunded Unallocated Total Three Months Ended March 31, 2017 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 316 $ 241 $ 616 $ 3,250 $ 1,318 $ 394 $ 217 $ 649 $ 7,001 Charge Offs — — — — — (44 ) — — (44 ) Recoveries 10 — 1 2 3 21 — — 37 Provision (Credit) (49 ) 3 17 (244 ) (22 ) 26 — 342 73 Other Non-interest — — — — — — 2 — 2 Ending Balance $ 277 $ 244 $ 634 $ 3,008 $ 1,299 $ 397 $ 219 $ 991 $ 7,069 Ending balance: individually evaluated for impairment $ 23 $ — $ — $ 61 $ 33 $ — $ — $ — $ 117 Ending balance: collectively evaluated for impairment $ 254 $ 244 $ 634 $ 2,947 $ 1,266 $ 397 $ 219 $ 991 $ 6,952 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — $ — $ — FINANCING RECEIVABLES: Ending balance $ 84,081 $ 62,803 $ 87,078 $ 382,183 $ 121,183 $ 33,878 $ — $ — $ 771,206 Ending balance: individually evaluated for impairment $ 1,081 $ 101 $ — $ 496 $ 115 $ — $ — $ — $ 1,793 Ending balance: collectively evaluated for impairment $ 83,000 $ 62,702 $ 87,078 $ 381,687 $ 121,068 $ 33,878 $ — $ — $ 769,413 Ending balance: loans acquired with deteriorated credit quality $ 198 $ — $ — $ — $ — $ — $ — $ — $ 198 |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2018 | |
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 In Thousands Three Months Ended March 31, March 31, Earnings per share Net income $ 3,767 $ 2,839 Less: distributed earnings allocated to participating securities (12 ) (10 ) Less: undistributed earnings allocated to participating securities (26 ) (17 ) Net earnings available to common shareholders $ 3,729 $ 2,812 Weighted average common shares outstanding including participating securities (1) 9,265,959 9,241,750 Less: average unvested restricted shares (1) (92,429 ) (86,300 ) Weighted average common shares outstanding (1) 9,173,530 9,155,450 Basic earnings and diluted per share (1) $ 0.41 $ 0.31 (1) Share data has been adjusted to reflect a 2-for-1 |
Fair Value of Instruments
Fair Value of Instruments | 3 Months Ended |
Mar. 31, 2018 | |
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 Held for Sale The carrying amount approximates fair value due to insignificant amount of time between origination and date of sale. Loans, net The fair values of the loans are estimated using a credit mark adjustment along with discounted cash flow analysis, using interest rates currently being offered for loans with similar terms to borrowers with similar credit quality. The credit mark adjustment was estimated using merger and acquisition analysis of nationwide bank and thrift deals closed in the last six months of 2017. 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. 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. 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 The estimated fair values, and related carrying or notional amounts, for on and off-balance (In Thousands) March 31, 2018 Carrying Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and Cash Equivalents $ 39,908 $ 39,908 $ 39,908 $ — $ — Interest-bearing time deposits 4,019 4,019 — 4,019 — Securities - available-for-sale 192,859 192,859 20,839 170,597 1,423 Other Securities 3,717 3,717 — — 3,717 Loans held for sale 2,769 2,769 — — 2,769 Loans, net 827,937 813,272 — — 813,272 Interest receivable 3,782 3,782 — — 3,782 Financial Liabilities: Interest bearing Deposits $ 573,328 $ 574,512 $ — $ — $ 574,512 Non-interest 193,665 193,665 — 193,665 — Time Deposits 186,345 186,392 — — 186,392 Total Deposits 953,338 954,569 — 193,665 760,904 Federal Funds Purchased and Securities Sold Under Agreement to Repurchase 23,307 23,307 — — 23,307 Federal Home Loan Bank advances 5,000 4,882 — — 4,882 Interest payable 302 302 — — 302 [Remainder of this page intentionally left blank] (In Thousands) December 31, 2017 Carrying Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and Cash Equivalents $ 34,467 $ 34,467 $ 34,467 $ — $ — Interest-bearing time deposits 4,018 4,009 — 4,009 — Securities - available-for-sale 196,398 196,398 20,978 173,992 1,428 Other Securities 3,717 3,717 — — 3,717 Loans held for sale 1,221 1,221 — — 1,221 Loans, net 816,156 819,193 — — 819,193 Interest receivable 4,276 4,276 — — 4,276 Financial Liabilities: Interest bearing Deposits $ 532,660 $ 532,660 $ — $ — $ 532,660 Non-interest 199,114 199,114 — 199,114 — Time Deposits 187,566 188,335 — — 188,335 Total Deposits 919,340 920,109 — 199,114 720,995 Federal Funds Purchased and Securities Sold Under Agreement to Repurchase 39,495 39,495 — — 39,495 Federal Home Loan Bank advances 5,000 5,021 — — 5,021 Interest payable 318 318 — — 318 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 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 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 March 31, 2018 and December 31, 2017, 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) March 31, 2018 Quoted Prices in Significant Significant Assets - (Securities Available-for-Sale) U.S. Treasury $ 20,839 $ — $ — U.S. Government agencies — 79,493 — Mortgage-backed securities — 36,862 — State and local governments — 54,242 1,423 Total Securities Available-for-Sale $ 20,839 $ 170,597 $ 1,423 December 31, 2017 Quoted Prices in Significant Significant Assets - (Securities Available-for-Sale) U.S. Treasury $ 20,978 $ — $ — U.S. Government agencies — 80,466 — Mortgage-backed securities — 39,510 — State and local governments — 54,016 1,428 Total Securities Available-for-Sale $ 20,978 $ 173,992 $ 1,428 [Remainder of this page intentionally left blank] The following table represents the changes in the Level 3 fair-value category of which unobservable inputs are relied upon as of March 31, 2018 and March 31, 2017. (In Thousands) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and Tax-Exempt State and State and Balance at January 1, 2018 $ — $ 1,428 $ 1,428 Change in Market Value — (5 ) (5 ) Payments & Maturities — — — Balance at March 31, 2018 $ — $ 1,423 $ 1,423 (In Thousands) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and Tax-Exempt State and State and Balance at January 1, 2017 $ — $ 1,418 $ 1,418 Change in Market Value — (4 ) (4 ) Payments & Maturities — — — Balance at March 31, 2017 $ — $ 1,414 $ 1,414 Most of the Company’s available-for-sale The Company also has assets that, under certain conditions, are subject to measurement at fair value on a non-recurring non-homogeneous [Remainder of this page intentionally left blank] At March 31, 2018 and December 31, 2017, fair value of collateral dependent impaired loans categorized as Level 3 was $503 and $508 thousand, respectively. The specific allocation for impaired loans was $104 and $106 thousand as of March 31, 2018 and December 31, 2017, 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: (In Thousands) Fair Value at Valuation Technique Unobservable Inputs Range State and local government $ 1,423 Discounted Cash Flow Credit strength of underlying project or entity / Discount rate 0-5% (3.69%) Collateral dependent impaired loans 503 Collateral based measurements Discount to reflect current market conditions and ultimate collectability 0-50% (17.11%) Other real estate owned - residential — Appraisals Discount to reflect current market 0-20% ( - ) Other real estate owned - commercial — Appraisals Discount to reflect current market 0-20% ( - ) (In Thousands) Fair Value at Valuation Technique Unobservable Inputs Range State and local government $ 1,428 Discounted Cash Flow Credit strength of underlying project or entity / Discount rate 0-5% (3.68%) Collateral dependent impaired loans 508 Collateral based measurements Discount to reflect current market conditions and ultimate collectability 0-50% (17.28%) Other real estate owned - residential 22 Appraisals Discount to reflect current market 0-20% (2.22%) Other real estate owned - commercial 266 Appraisals Discount to reflect current market 0-20% (5.15%) The following table presents impaired loans and other real estate owned as recorded at fair value on March 31, 2018 and December 31, 2017: Assets Measured at Fair Value on a Nonrecurring Basis at March 31, 2018 Balance at (In Thousands) Significant Significant Collateral dependent impaired loans $ 503 $ — $ — $ 503 Other real estate owned - residential — — — — Other real estate owned - commercial — — — — Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2017 Balance at (In Thousands) Significant Significant Collateral dependent impaired loans $ 508 $ — $ — $ 508 Other real estate owned - residential 22 — — 22 Other real estate owned - commercial 266 — — 266 |
Federal Funds Purchased and Sec
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase | 3 Months Ended |
Mar. 31, 2018 | |
Brokers and Dealers [Abstract] | |
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase | NOTE 7 FEDERAL FUNDS PURCHASED AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE The Company did not have any Federal Funds Purchased as of March 31, 2018 and had $10.4 million as of December 31, 2017. During the same time periods the company also had $23.3 million and $29.1 million in securities sold under agreement to repurchase. March 31, 2018 Remaining Contractual Maturity of the Agreements (In Thousands) Overnight & Up to 30 days 30-90 days Greater Than 90 Total Federal funds purchased $ — $ — $ — $ — $ — Repurchase Agreements; US Treasury & agency securities 271 — — 23,036 23,307 $ 271 $ — $ — $ 23,036 $ 23,307 December 31, 2017 Remaining Contractual Maturity of the Agreements (In Thousands) Overnight & Up to 30 days 30-90 days Greater Than 90 Total Federal funds purchased $ 10,425 $ — $ — $ — $ 10,425 Repurchase Agreements; US Treasury & agency securities 6,145 — — 22,925 29,070 $ 16,570 $ — $ — $ 22,925 $ 39,495 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | NOTE 8 RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued ASU No. 2014-09 “Revenue from Contracts with Customers (Topic 606) 2014-09 2014-09 i.e 2014-09 2014-09 In January 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-01 Financial Instruments - Overall (Subtopic 825-10) - Recognition 2016-01 2016-01 2016-01 In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842).” 2016-02 2016-02 In June 2016, FASB issued 2016-13, available-for-sale The ASU is effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 (i.e., January 1, 2020, for calendar year entities). Early application will be permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently gathering information, reviewing possible vendors and has formed a committee to formulate the methodology to be used. Most importantly, the Company is gathering as much data as possible to enable review scenarios and determine which calculations will produce the most reliable results. At this time, an external advisor has been contracted. The Company is in the early stages of CECL conversion. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230) - Restricted Cash.” ASU-2016-18 2016-18 In January 2017, the FASB issued ASU No. 2017-01 Business Combinations (Topic 805) - Clarifying the Definition of a Business.” 2017-01 2017-01 In January 2017, the FASB issued ASU No. 2017-04 “Intangibles - Goodwill and other (Topic 350) - Simplifying the Test for Goodwill Impairment” 2017-04 2017-04 In March 2017, the FASB issued Accounting Standards Update (ASU) No. 2017-08 “Receivables - Nonrefundable Fees and Other Cost (Subtopic 310-20), Tax-Exempt In May 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2017-09 Compensation - Stock Compensation (Topic 718), Scope of Modification Accounting.” 2016-09 2016-09 2016-09 In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2018-02 Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” |
Recent Accounting Pronounceme16
Recent Accounting Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | In May 2014, the FASB issued ASU No. 2014-09 “Revenue from Contracts with Customers (Topic 606) 2014-09 2014-09 i.e 2014-09 2014-09 In January 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-01 Financial Instruments - Overall (Subtopic 825-10) - Recognition 2016-01 2016-01 2016-01 In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842).” 2016-02 2016-02 In June 2016, FASB issued 2016-13, available-for-sale The ASU is effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 (i.e., January 1, 2020, for calendar year entities). Early application will be permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently gathering information, reviewing possible vendors and has formed a committee to formulate the methodology to be used. Most importantly, the Company is gathering as much data as possible to enable review scenarios and determine which calculations will produce the most reliable results. At this time, an external advisor has been contracted. The Company is in the early stages of CECL conversion. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230) - Restricted Cash.” ASU-2016-18 2016-18 In January 2017, the FASB issued ASU No. 2017-01 Business Combinations (Topic 805) - Clarifying the Definition of a Business.” 2017-01 2017-01 In January 2017, the FASB issued ASU No. 2017-04 “Intangibles - Goodwill and other (Topic 350) - Simplifying the Test for Goodwill Impairment” 2017-04 2017-04 In March 2017, the FASB issued Accounting Standards Update (ASU) No. 2017-08 “Receivables - Nonrefundable Fees and Other Cost (Subtopic 310-20), Tax-Exempt In May 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2017-09 Compensation - Stock Compensation (Topic 718), Scope of Modification Accounting.” 2016-09 2016-09 2016-09 In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2018-02 Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” |
Asset Purchases (Tables)
Asset Purchases (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Business Combinations [Abstract] | |
Amortization Expense of Core Deposit Intangible Assets | (In Thousands) Custar 2018 $ 167 2019 167 2020 161 $ 495 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 at March 31, 2018 and December 31, 2017, follows: (In Thousands) March 31, 2018 Amortized Gross Gross Fair Value Available-for-Sale: U.S. Treasury $ 21,193 $ — $ (354 ) $ 20,839 U.S. Government agencies 82,184 — (2,691 ) 79,493 Mortgage-backed securities 38,283 30 (1,451 ) 36,862 State and local governments 56,436 357 (1,128 ) 55,665 Total available-for-sale $ 198,096 $ 387 $ (5,624 ) $ 192,859 (In Thousands) December 31, 2017 Amortized Gross Gross Fair Value Available-for-Sale: U.S. Treasury $ 21,219 $ — $ (241 ) $ 20,978 U.S. Government agencies 82,198 — (1,732 ) 80,466 Mortgage-backed securities 40,236 64 (790 ) 39,510 State and local governments 55,512 437 (505 ) 55,444 Total available-for-sale $ 199,165 $ 501 $ (3,268 ) $ 196,398 |
Gross Unrealized Losses, Aggregated by Investment Category and Length of Time | Information pertaining to securities with gross unrealized losses at March 31, 2018 and December 31, 2017, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows: (In Thousands) March 31, 2018 Less Than Twelve Months Twelve Months & Over Gross Unrealized Fair Gross Unrealized Fair U.S. Treasury $ (87 ) $ 6,877 $ (267 ) $ 13,962 U.S. Government agencies (619 ) 27,015 (2,072 ) 52,478 Mortgage-backed securities (173 ) 8,977 (1,278 ) 26,477 State and local governments (525 ) 32,785 (603 ) 11,212 Total available-for-sale $ (1,404 ) $ 75,654 $ (4,220 ) $ 104,129 (In Thousands) December 31, 2017 Less Than Twelve Months Twelve Months & Over Gross Unrealized Fair Gross Unrealized Fair U.S. Treasury $ (36 ) $ 6,924 $ (205 ) $ 14,054 U.S. Government agencies (314 ) 27,328 (1,418 ) 53,139 Mortgage-backed securities (70 ) 7,149 (720 ) 28,080 State and local governments (205 ) 24,999 (300 ) 11,567 Total available-for-sale $ (625 ) $ 66,400 $ (2,643 ) $ 106,840 |
Gross Realized Gains and Losses | Below are the gross realized gains and losses for the three months ended March 31. Three Months (In Thousands) 2018 2017 Gross realized gains $ — $ 31 Gross realized losses — — Net realized gains $ — $ 31 Tax expense related to net realized gains $ — $ 11 |
Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity | The amortized cost and fair value of debt securities at March 31, 2018, 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 $ 21,660 $ 21,626 After one year through five years 84,900 83,471 After five years through ten years 50,406 48,228 After ten years 2,847 2,672 Total $ 159,813 $ 155,997 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loans | Loan balances as of March 31, 2018 and December 31, 2017: (In Thousands) Loans: March 31, 2018 December 31, 2017 Consumer Real Estate $ 84,501 $ 83,620 Agricultural Real Estate 67,596 64,073 Agricultural 99,836 95,111 Commercial Real Estate 415,296 410,520 Commercial and Industrial 123,439 126,275 Consumer 38,569 37,757 Industrial Development Bonds 6,350 6,415 835,587 823,771 Less: Net deferred loan fees and costs (850 ) (747 ) 834,737 823,024 Less: Allowance for loan losses (6,800 ) (6,868 ) Loans - Net $ 827,937 $ 816,156 |
Contractual Maturity Schedule by Major Category of Loans | The following is a contractual maturity schedule by major category of loans as of March 31, 2018: (In Thousands) Within After One After Consumer Real Estate $ 3,701 $ 14,131 $ 66,669 Agricultural Real Estate 978 6,055 60,563 Agricultural 61,155 27,656 11,025 Commercial Real Estate 18,333 140,155 256,808 Commercial and Industrial 65,252 41,008 17,179 Consumer 5,346 24,530 8,693 Industrial Development Bonds 800 65 5,485 |
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 March 31, 2018: (In Thousands) Fixed Rate Variable Consumer Real Estate $ 41,497 $ 43,004 Agricultural Real Estate 49,003 18,593 Agricultural 35,722 64,114 Commercial Real Estate 258,969 156,327 Commercial and Industrial 46,137 77,302 Consumer 33,838 4,731 Industrial Development Bonds 6,350 — |
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 March 31, 2018 and December 31, 2017, net of deferred loan fees and costs: March 31, 2018 30-59 Days 60-89 Days Greater Than Total Current Total Recorded Consumer Real Estate $ 461 $ 0 $ 95 $ 556 $ 83,496 $ 84,052 $ — Agricultural Real Estate 18 — — 18 67,551 67,569 — Agricultural — — — — 99,954 99,954 — Commercial Real Estate — — 1 1 414,665 414,666 — Commercial and Industrial 115 — — 115 129,750 129,865 — Consumer 38 5 — 43 38,588 38,631 — Total $ 632 $ 5 $ 96 $ 733 $ 834,004 $ 834,737 $ 0 December 31, 2017 30-59 Days 60-89 Days Greater Than Total Current Total Recorded Consumer Real Estate $ 565 $ 212 $ 113 $ 890 $ 82,310 $ 83,200 $ — Agricultural Real Estate — — 101 101 63,943 64,044 — Agricultural — — — — 95,238 95,238 — Commercial Real Estate — — 38 38 409,915 409,953 — Commercial and Industrial — 42 — 42 132,745 132,787 — Consumer 34 2 7 43 37,759 37,802 — Total $ 599 $ 256 $ 259 $ 1,114 $ 821,910 $ 823,024 $ 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 March 31, 2018 and December 31, 2017: (In Thousands) March 31, December 31, Consumer Real Estate $ 790 $ 708 Agricultural Real Estate — 101 Agricultural — — Commercial Real Estate 1 38 Commercial & Industrial 109 149 Consumer — 7 Total $ 900 $ 1,003 |
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 March 31, 2018 and December 31, 2017: (In Thousands) Agricultural Agricultural Commercial Commercial Industrial March 31, 2018 1-2 $ 4,076 $ 2,109 $ 1,167 $ 9,065 $ — 3 13,087 34,434 31,227 16,752 3,460 4 49,057 62,856 365,841 95,150 2,890 5 1,335 555 7,676 1,696 — 6 14 — 8,755 743 — 7 — — — 109 — 8 — — — — — Total $ 67,569 $ 99,954 $ 414,666 $ 123,515 $ 6,350 Agricultural Agricultural Commercial Commercial Industrial December 31, 2017 1-2 $ 4,143 $ 6,558 $ 1,244 $ 9,205 $ — 3 15,244 37,267 32,498 15,277 3,489 4 43,416 51,312 359,600 99,581 2,926 5 1,125 101 7,758 1,381 — 6 116 — 8,853 817 — 7 — — — 111 — 8 — — — — — Total $ 64,044 $ 95,238 $ 409,953 $ 126,372 $ 6,415 |
Recorded Investment for Consumer Loans, Credit Quality based on Status of Loan and Payment Activity | (In Thousands) Consumer Consumer March 31, December 31, Grade Pass $ 83,716 $ 82,632 Special Mention (5) — — Substandard (6) 256 488 Doubtful (7) 80 80 Total $ 84,052 $ 83,200 (In Thousands) Consumer - Credit Consumer - Other March 31, December 31, March 31, December 31, Performing $ 3,826 $ 4,108 $ 34,791 $ 33,666 Nonperforming — — 14 28 Total $ 3,826 $ 4,108 $ 34,805 $ 33,694 |
Schedule of Impaired Loans | Information about impaired loans as of March 31, 2018, December 31, 2017 and March 31, 2017 are as follows: (In Thousands) March 31, 2018 December 31, 2017 March 31, 2017 Impaired loans without a valuation $ 999 $ 1,131 $ 1,099 Impaired loans with a valuation allowance 607 614 694 Total impaired loans $ 1,606 $ 1,745 $ 1,793 Valuation allowance related to impaired $ 104 $ 106 $ 117 Total non-accrual $ 900 $ 1,003 $ 1,430 Total loans past-due $ — $ — $ — Quarter ended average investment in $ 1,688 $ 2,160 $ 1,832 Year to date average investment in $ 1,688 $ 1,885 $ 1,832 |
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 March 31, 2018 and March 31, 2017. (In Thousands) Three Months Ended March 31, 2018 Recorded Unpaid Related QTD QTD QTD With no related allowance recorded: Consumer Real Estate $ 489 $ 489 $ — $ 492 $ 8 $ 6 Agricultural Real Estate — — — 67 — — Agricultural — — — — — — Commercial Real Estate 200 200 — 201 3 — Commercial and Industrial 310 310 — 209 4 — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 80 80 20 80 — — Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 418 418 42 420 4 — Commercial and Industrial 109 109 42 219 — — Consumer — — — — — — Totals: Consumer Real Estate $ 569 $ 569 $ 20 $ 572 $ 8 $ 6 Agricultural Real Estate $ — $ — $ — $ 67 $ — $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 618 $ 618 $ 42 $ 621 $ 7 $ — Commercial and Industrial $ 419 $ 419 $ 42 $ 428 $ 4 $ — Consumer $ — $ — $ — $ — $ — $ — [Remainder of this page intentionally left blank] (In Thousands) Three Months Ended March 31, 2017 Recorded Unpaid Related QTD QTD QTD With no related allowance recorded: Consumer Real Estate $ 998 $ 998 $ — $ 1,003 $ 8 $ 6 Agricultural Real Estate 101 101 — 121 — — Agricultural — — — — — — Commercial Real Estate — — — — — — Commercial and Industrial — — — — — — Consumer — — — — — — With a specific allowance recorded: Consumer Real Estate 83 83 23 94 — — Agricultural Real Estate — — — — — — Agricultural — — — — — — Commercial Real Estate 496 496 61 498 5 — Commercial and Industrial 115 115 33 116 — — Consumer — — — — — — Totals: Consumer Real Estate $ 1,081 $ 1,081 $ 23 $ 1,097 $ 8 $ 6 Agricultural Real Estate $ 101 $ 101 $ — $ 121 $ — $ — Agricultural $ — $ — $ — $ — $ — $ — Commercial Real Estate $ 496 $ 496 $ 61 $ 498 $ 5 $ — Commercial and Industrial $ 115 $ 115 $ 33 $ 116 $ — $ — Consumer $ — $ — $ — $ — $ — $ — |
Summary of Activities in Allowance for Credit Losses | The following tables summarize the activities in the allowance for credit losses. (In Thousands) Three Months Ended Twelve Months Ended Allowance for Loan & Lease Losses Balance at beginning of year $ 6,868 $ 6,784 Provision for loan loss 40 222 Loans charged off (145 ) (288 ) Recoveries 37 150 Allowance for Loan & Lease Losses $ 6,800 $ 6,868 Allowance for Unfunded Loan Commitments & Letters of Credit $ 265 $ 227 Total Allowance for Credit Losses $ 7,065 $ 7,095 |
Analysis of Allowance for Credit Losses | Additional analysis, presented in thousands, related to the allowance for credit losses for three months ended March 31, 2018 and March 31, 2017 is as follows: Consumer Agricultural Agricultural Commercial Commercial Consumer Unfunded Unallocated Total Three Months Ended March 31, 2018 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 343 $ 244 $ 667 $ 3,149 $ 1,546 $ 441 $ 227 $ 478 $ 7,095 Charge Offs (34 ) — — (14 ) — (97 ) — — (145 ) Recoveries — — 3 2 2 30 — — 37 Provision (Credit) (55 ) 19 36 537 (105 ) 57 — (449 ) 40 Other Non-interest — — — — — — 38 — 38 Ending Balance $ 254 $ 263 $ 706 $ 3,674 $ 1,443 $ 431 $ 265 $ 29 $ 7,065 Ending balance: individually evaluated for impairment $ 20 $ — $ — $ 42 $ 42 $ — $ — $ — $ 104 Ending balance: collectively evaluated for impairment $ 234 $ 263 $ 706 $ 3,632 $ 1,401 $ 431 $ 265 $ 29 $ 6,961 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — $ — $ — FINANCING RECEIVABLES: Ending balance $ 84,052 $ 67,569 $ 99,954 $ 414,666 $ 129,865 $ 38,631 $ — $ — $ 834,737 Ending balance: individually evaluated for impairment $ 569 $ — $ — $ 618 $ 419 $ — $ — $ — $ 1,606 Ending balance: collectively evaluated for impairment $ 83,483 $ 67,569 $ 99,954 $ 414,048 $ 129,446 $ 38,631 $ — $ — $ 833,131 Ending balance: loans acquired with deteriorated credit quality $ 121 $ — $ — $ — $ — $ — $ — $ — $ 121 Consumer Agricultural Agricultural Commercial Commercial Consumer Unfunded Unallocated Total Three Months Ended March 31, 2017 ALLOWANCE FOR CREDIT LOSSES: Beginning balance $ 316 $ 241 $ 616 $ 3,250 $ 1,318 $ 394 $ 217 $ 649 $ 7,001 Charge Offs — — — — — (44 ) — — (44 ) Recoveries 10 — 1 2 3 21 — — 37 Provision (Credit) (49 ) 3 17 (244 ) (22 ) 26 — 342 73 Other Non-interest — — — — — — 2 — 2 Ending Balance $ 277 $ 244 $ 634 $ 3,008 $ 1,299 $ 397 $ 219 $ 991 $ 7,069 Ending balance: individually evaluated for impairment $ 23 $ — $ — $ 61 $ 33 $ — $ — $ — $ 117 Ending balance: collectively evaluated for impairment $ 254 $ 244 $ 634 $ 2,947 $ 1,266 $ 397 $ 219 $ 991 $ 6,952 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — $ — $ — FINANCING RECEIVABLES: Ending balance $ 84,081 $ 62,803 $ 87,078 $ 382,183 $ 121,183 $ 33,878 $ — $ — $ 771,206 Ending balance: individually evaluated for impairment $ 1,081 $ 101 $ — $ 496 $ 115 $ — $ — $ — $ 1,793 Ending balance: collectively evaluated for impairment $ 83,000 $ 62,702 $ 87,078 $ 381,687 $ 121,068 $ 33,878 $ — $ — $ 769,413 Ending balance: loans acquired with deteriorated credit quality $ 198 $ — $ — $ — $ — $ — $ — $ — $ 198 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Calculation of Basic Earnings Per Share | In Thousands Three Months Ended March 31, March 31, Earnings per share Net income $ 3,767 $ 2,839 Less: distributed earnings allocated to participating securities (12 ) (10 ) Less: undistributed earnings allocated to participating securities (26 ) (17 ) Net earnings available to common shareholders $ 3,729 $ 2,812 Weighted average common shares outstanding including participating securities (1) 9,265,959 9,241,750 Less: average unvested restricted shares (1) (92,429 ) (86,300 ) Weighted average common shares outstanding (1) 9,173,530 9,155,450 Basic earnings and diluted per share (1) $ 0.41 $ 0.31 (1) Share data has been adjusted to reflect a 2-for-1 |
Fair Value of Instruments (Tabl
Fair Value of Instruments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 (In Thousands) March 31, 2018 Carrying Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and Cash Equivalents $ 39,908 $ 39,908 $ 39,908 $ — $ — Interest-bearing time deposits 4,019 4,019 — 4,019 — Securities - available-for-sale 192,859 192,859 20,839 170,597 1,423 Other Securities 3,717 3,717 — — 3,717 Loans held for sale 2,769 2,769 — — 2,769 Loans, net 827,937 813,272 — — 813,272 Interest receivable 3,782 3,782 — — 3,782 Financial Liabilities: Interest bearing Deposits $ 573,328 $ 574,512 $ — $ — $ 574,512 Non-interest 193,665 193,665 — 193,665 — Time Deposits 186,345 186,392 — — 186,392 Total Deposits 953,338 954,569 — 193,665 760,904 Federal Funds Purchased and Securities Sold Under Agreement to Repurchase 23,307 23,307 — — 23,307 Federal Home Loan Bank advances 5,000 4,882 — — 4,882 Interest payable 302 302 — — 302 [Remainder of this page intentionally left blank] (In Thousands) December 31, 2017 Carrying Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and Cash Equivalents $ 34,467 $ 34,467 $ 34,467 $ — $ — Interest-bearing time deposits 4,018 4,009 — 4,009 — Securities - available-for-sale 196,398 196,398 20,978 173,992 1,428 Other Securities 3,717 3,717 — — 3,717 Loans held for sale 1,221 1,221 — — 1,221 Loans, net 816,156 819,193 — — 819,193 Interest receivable 4,276 4,276 — — 4,276 Financial Liabilities: Interest bearing Deposits $ 532,660 $ 532,660 $ — $ — $ 532,660 Non-interest 199,114 199,114 — 199,114 — Time Deposits 187,566 188,335 — — 188,335 Total Deposits 919,340 920,109 — 199,114 720,995 Federal Funds Purchased and Securities Sold Under Agreement to Repurchase 39,495 39,495 — — 39,495 Federal Home Loan Bank advances 5,000 5,021 — — 5,021 Interest payable 318 318 — — 318 |
Financial Assets Measured at Fair Value on Recurring Basis | The following summarizes financial assets measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017, 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) March 31, 2018 Quoted Prices in Significant Significant Assets - (Securities Available-for-Sale) U.S. Treasury $ 20,839 $ — $ — U.S. Government agencies — 79,493 — Mortgage-backed securities — 36,862 — State and local governments — 54,242 1,423 Total Securities Available-for-Sale $ 20,839 $ 170,597 $ 1,423 December 31, 2017 Quoted Prices in Significant Significant Assets - (Securities Available-for-Sale) U.S. Treasury $ 20,978 $ — $ — U.S. Government agencies — 80,466 — Mortgage-backed securities — 39,510 — State and local governments — 54,016 1,428 Total Securities Available-for-Sale $ 20,978 $ 173,992 $ 1,428 |
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 March 31, 2018 and March 31, 2017. (In Thousands) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and Tax-Exempt State and State and Balance at January 1, 2018 $ — $ 1,428 $ 1,428 Change in Market Value — (5 ) (5 ) Payments & Maturities — — — Balance at March 31, 2018 $ — $ 1,423 $ 1,423 (In Thousands) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and Tax-Exempt State and State and Balance at January 1, 2017 $ — $ 1,418 $ 1,418 Change in Market Value — (4 ) (4 ) Payments & Maturities — — — Balance at March 31, 2017 $ — $ 1,414 $ 1,414 |
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: (In Thousands) Fair Value at Valuation Technique Unobservable Inputs Range State and local government $ 1,423 Discounted Cash Flow Credit strength of underlying project or entity / Discount rate 0-5% (3.69%) Collateral dependent impaired loans 503 Collateral based measurements Discount to reflect current market conditions and ultimate collectability 0-50% (17.11%) Other real estate owned - residential — Appraisals Discount to reflect current market 0-20% ( - ) Other real estate owned - commercial — Appraisals Discount to reflect current market 0-20% ( - ) (In Thousands) Fair Value at Valuation Technique Unobservable Inputs Range State and local government $ 1,428 Discounted Cash Flow Credit strength of underlying project or entity / Discount rate 0-5% (3.68%) Collateral dependent impaired loans 508 Collateral based measurements Discount to reflect current market conditions and ultimate collectability 0-50% (17.28%) Other real estate owned - residential 22 Appraisals Discount to reflect current market 0-20% (2.22%) Other real estate owned - commercial 266 Appraisals Discount to reflect current market 0-20% (5.15%) |
Impaired Loans and Other Real Estate | The following table presents impaired loans and other real estate owned as recorded at fair value on March 31, 2018 and December 31, 2017: Assets Measured at Fair Value on a Nonrecurring Basis at March 31, 2018 Balance at (In Thousands) Significant Significant Collateral dependent impaired loans $ 503 $ — $ — $ 503 Other real estate owned - residential — — — — Other real estate owned - commercial — — — — Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2017 Balance at (In Thousands) Significant Significant Collateral dependent impaired loans $ 508 $ — $ — $ 508 Other real estate owned - residential 22 — — 22 Other real estate owned - commercial 266 — — 266 |
Federal Funds Purchased and S22
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Brokers and Dealers [Abstract] | |
Schedule of Remaining Contractual Maturity in Repurchase Agreements | March 31, 2018 Remaining Contractual Maturity of the Agreements (In Thousands) Overnight & Up to 30 days 30-90 days Greater Than 90 Total Federal funds purchased $ — $ — $ — $ — $ — Repurchase Agreements; US Treasury & agency securities 271 — — 23,036 23,307 $ 271 $ — $ — $ 23,036 $ 23,307 December 31, 2017 Remaining Contractual Maturity of the Agreements (In Thousands) Overnight & Up to 30 days 30-90 days Greater Than 90 Total Federal funds purchased $ 10,425 $ — $ — $ — $ 10,425 Repurchase Agreements; US Treasury & agency securities 6,145 — — 22,925 29,070 $ 16,570 $ — $ — $ 22,925 $ 39,495 |
Basis of Presentation (Detail)
Basis of Presentation (Detail) | Sep. 20, 2017 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Share stock split ratio | 2 |
Asset Purchases - Additional In
Asset Purchases - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 13, 2013 | |
Business Acquisition [Line Items] | ||||
Number of years amortized over an estimated remaining economic useful life of deposits | 7 years | |||
Amortization expense | $ 42 | $ 81 | $ 245 | |
Amortization expense | 167 | |||
Hicksville [Member] | ||||
Business Acquisition [Line Items] | ||||
Amortization expense | $ 78 | |||
Custar [Member] | ||||
Business Acquisition [Line Items] | ||||
Amortization expense | $ 167 | |||
Custar [Member] | Core Deposits [Member] | ||||
Business Acquisition [Line Items] | ||||
Recognition of core deposit intangible asset with acquired purchase | $ 1,170 |
Asset Purchases - Amortization
Asset Purchases - Amortization Expense of Core Deposit Intangible Assets (Detail) $ in Thousands | Mar. 31, 2018USD ($) |
Business Acquisition [Line Items] | |
2,018 | $ 167 |
Custar [Member] | |
Business Acquisition [Line Items] | |
2,018 | 167 |
2,019 | 167 |
2,020 | 161 |
Total | $ 495 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 198,096 | $ 199,165 |
Gross Unrealized Gains | 387 | 501 |
Gross Unrealized Losses | (5,624) | (3,268) |
Fair Value | 192,859 | 196,398 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 21,193 | 21,219 |
Gross Unrealized Losses | (354) | (241) |
Fair Value | 20,839 | 20,978 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 82,184 | 82,198 |
Gross Unrealized Losses | (2,691) | (1,732) |
Fair Value | 79,493 | 80,466 |
Mortgage-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 38,283 | 40,236 |
Gross Unrealized Gains | 30 | 64 |
Gross Unrealized Losses | (1,451) | (790) |
Fair Value | 36,862 | 39,510 |
State and Local Governments [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 56,436 | 55,512 |
Gross Unrealized Gains | 357 | 437 |
Gross Unrealized Losses | (1,128) | (505) |
Fair Value | $ 55,665 | $ 55,444 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Investments with a carrying value | $ 82.1 | $ 82.9 |
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 | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | $ (1,404) | $ (625) |
Fair Value, Less Than Twelve Months | 75,654 | 66,400 |
Gross Unrealized Losses, Twelve Months and Over | (4,220) | (2,643) |
Fair Value, Twelve Months and Over | 104,129 | 106,840 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (87) | (36) |
Fair Value, Less Than Twelve Months | 6,877 | 6,924 |
Gross Unrealized Losses, Twelve Months and Over | (267) | (205) |
Fair Value, Twelve Months and Over | 13,962 | 14,054 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (619) | (314) |
Fair Value, Less Than Twelve Months | 27,015 | 27,328 |
Gross Unrealized Losses, Twelve Months and Over | (2,072) | (1,418) |
Fair Value, Twelve Months and Over | 52,478 | 53,139 |
Mortgage-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (173) | (70) |
Fair Value, Less Than Twelve Months | 8,977 | 7,149 |
Gross Unrealized Losses, Twelve Months and Over | (1,278) | (720) |
Fair Value, Twelve Months and Over | 26,477 | 28,080 |
State and Local Governments [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than Twelve Months | (525) | (205) |
Fair Value, Less Than Twelve Months | 32,785 | 24,999 |
Gross Unrealized Losses, Twelve Months and Over | (603) | (300) |
Fair Value, Twelve Months and Over | $ 11,212 | $ 11,567 |
Securities - Gross Realized Gai
Securities - Gross Realized Gains and Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures [Abstract] | ||
Gross realized gains | $ 31 | |
Gross realized losses | $ 0 | 0 |
Net realized gains | 31 | |
Tax expense related to net realized gains | $ 11 |
Securities - Amortized Cost a30
Securities - Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available-for-sale Securities, Debt Maturities [Abstract] | ||
Amortized Cost, One year or less | $ 21,660 | |
Amortized Cost, After one year through five years | 84,900 | |
Amortized Cost, After five years through ten years | 50,406 | |
Amortized Cost, After ten years | 2,847 | |
Amortized Cost, Total | 159,813 | |
Amortized Cost, Mortgage-backed securities | 38,283 | |
Amortized Cost | 198,096 | $ 199,165 |
Fair Value, One year or less | 21,626 | |
Fair Value, After one year through five years | 83,471 | |
Fair Value, After five years through ten years | 48,228 | |
Fair Value, After ten years | 2,672 | |
Fair Value, Total | 155,997 | |
Fair Value, Mortgage-backed securities | 36,862 | |
Total, Fair Value | $ 192,859 | $ 196,398 |
Loans - Loans (Detail)
Loans - Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Loans: | ||||
Loans - Gross | $ 835,587 | $ 823,771 | ||
Less: Net deferred loan fees and costs | (850) | (747) | ||
Loans after net deferred loan fees and costs | 834,737 | 823,024 | $ 771,206 | |
Less: Allowance for loan losses | (6,800) | (6,868) | $ (6,784) | |
Loans - Net | 827,937 | 816,156 | ||
Agricultural Real Estate [Member] | ||||
Loans: | ||||
Loans - Gross | 67,596 | 64,073 | ||
Loans after net deferred loan fees and costs | 67,569 | 64,044 | 62,803 | |
Agricultural [Member] | ||||
Loans: | ||||
Loans - Gross | 99,836 | 95,111 | ||
Loans after net deferred loan fees and costs | 99,954 | 95,238 | 87,078 | |
Industrial Development Bonds [Member] | ||||
Loans: | ||||
Loans - Gross | 6,350 | 6,415 | ||
Loans after net deferred loan fees and costs | 6,350 | 6,415 | ||
Consumer Real Estate [Member] | ||||
Loans: | ||||
Loans - Gross | 84,501 | 83,620 | ||
Loans after net deferred loan fees and costs | 84,052 | 83,200 | 84,081 | |
Commercial Real Estate [Member] | ||||
Loans: | ||||
Loans - Gross | 415,296 | 410,520 | ||
Loans after net deferred loan fees and costs | 414,666 | 409,953 | 382,183 | |
Consumer [Member] | ||||
Loans: | ||||
Loans - Gross | 38,569 | 37,757 | ||
Loans after net deferred loan fees and costs | 38,631 | 37,802 | $ 33,878 | |
Commercial and Industrial [Member] | ||||
Loans: | ||||
Loans - Gross | 123,439 | 126,275 | ||
Loans after net deferred loan fees and costs | $ 123,515 | $ 126,372 |
Loans - Contractual Maturity Sc
Loans - Contractual Maturity Schedule by Major Category of Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | $ 835,587 | $ 823,771 |
Agricultural Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 67,596 | 64,073 |
Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 99,836 | 95,111 |
Industrial Development Bonds [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 6,350 | 6,415 |
Consumer Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 84,501 | 83,620 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 415,296 | 410,520 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 38,569 | 37,757 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 123,439 | $ 126,275 |
Major Category Of Receivables Due Within One Year [Member] | Agricultural Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 978 | |
Major Category Of Receivables Due Within One Year [Member] | Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 61,155 | |
Major Category Of Receivables Due Within One Year [Member] | Industrial Development Bonds [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 800 | |
Major Category Of Receivables Due Within One Year [Member] | Consumer Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 3,701 | |
Major Category Of Receivables Due Within One Year [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 18,333 | |
Major Category Of Receivables Due Within One Year [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 5,346 | |
Major Category Of Receivables Due Within One Year [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 65,252 | |
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 | 6,055 | |
Major Category Of Receivables Due Within One Year to Five Years [Member] | Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 27,656 | |
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 | 65 | |
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 | 14,131 | |
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 | 140,155 | |
Major Category Of Receivables Due Within One Year to Five Years [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 24,530 | |
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 | 41,008 | |
Major Category Of Receivables Over Five Years [Member] | Agricultural Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 60,563 | |
Major Category Of Receivables Over Five Years [Member] | Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 11,025 | |
Major Category Of Receivables Over Five Years [Member] | Industrial Development Bonds [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 5,485 | |
Major Category Of Receivables Over Five Years [Member] | Consumer Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 66,669 | |
Major Category Of Receivables Over Five Years [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 256,808 | |
Major Category Of Receivables Over Five Years [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | 8,693 | |
Major Category Of Receivables Over Five Years [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans - Gross | $ 17,179 |
Loans - Distribution of Fixed R
Loans - Distribution of Fixed Rate Loans and Variable Rate Loans by Major Loan Category (Detail) $ in Thousands | Mar. 31, 2018USD ($) |
Agricultural Real Estate [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | $ 49,003 |
Distribution of variable rate loans by major loan category, Variable Rate | 18,593 |
Agricultural [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 35,722 |
Distribution of variable rate loans by major loan category, Variable Rate | 64,114 |
Industrial Development Bonds [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 6,350 |
Consumer Real Estate [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 41,497 |
Distribution of variable rate loans by major loan category, Variable Rate | 43,004 |
Commercial Real Estate [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 258,969 |
Distribution of variable rate loans by major loan category, Variable Rate | 156,327 |
Consumer [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 33,838 |
Distribution of variable rate loans by major loan category, Variable Rate | 4,731 |
Commercial and Industrial [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Distribution of fixed rate loans by major loan category, Fixed Rate | 46,137 |
Distribution of variable rate loans by major loan category, Variable Rate | $ 77,302 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Receivables [Abstract] | ||
Residential mortgage loan | $ 17.5 | $ 17.3 |
Loans - Contractual Aging of Re
Loans - Contractual Aging of Recorded Investment in Past Due Loans by Portfolio Classification of Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | $ 733 | $ 1,114 | |
Current | 834,004 | 821,910 | |
Loans after net deferred loan fees and costs | 834,737 | 823,024 | $ 771,206 |
Recorded Investment > 90 Days and Accruing | 0 | 0 | 0 |
Agricultural Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 18 | 101 | |
Current | 67,551 | 63,943 | |
Loans after net deferred loan fees and costs | 67,569 | 64,044 | 62,803 |
Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 99,954 | 95,238 | |
Loans after net deferred loan fees and costs | 99,954 | 95,238 | 87,078 |
Commercial And Industrial and Industrial Development Bonds [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 115 | 42 | |
Current | 129,750 | 132,745 | |
Loans after net deferred loan fees and costs | 129,865 | 132,787 | 121,183 |
Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 556 | 890 | |
Current | 83,496 | 82,310 | |
Loans after net deferred loan fees and costs | 84,052 | 83,200 | 84,081 |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 1 | 38 | |
Current | 414,665 | 409,915 | |
Loans after net deferred loan fees and costs | 414,666 | 409,953 | 382,183 |
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 43 | 43 | |
Current | 38,588 | 37,759 | |
Loans after net deferred loan fees and costs | 38,631 | 37,802 | $ 33,878 |
30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 632 | 599 | |
30 to 59 Days Past Due [Member] | Agricultural Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 18 | ||
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 | 115 | ||
30 to 59 Days Past Due [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 461 | 565 | |
30 to 59 Days Past Due [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 38 | 34 | |
60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 5 | 256 | |
60 to 89 Days Past Due [Member] | Commercial And Industrial and Industrial Development Bonds [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 42 | ||
60 to 89 Days Past Due [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 0 | 212 | |
60 to 89 Days Past Due [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 5 | 2 | |
Greater Than 90 Days [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 96 | 259 | |
Greater Than 90 Days [Member] | Agricultural Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 101 | ||
Greater Than 90 Days [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 95 | 113 | |
Greater Than 90 Days [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | $ 1 | 38 | |
Greater Than 90 Days [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | $ 7 |
Loans - Recorded Investment in
Loans - Recorded Investment in Nonaccrual Loans by Portfolio Class of Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | $ 900 | $ 1,003 | $ 1,430 |
Agricultural Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | 101 | ||
Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | 790 | 708 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | 1 | 38 | |
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | 7 | ||
Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Investment in nonaccrual loans | $ 109 | $ 149 |
Loans (Tier Risk Rating System)
Loans (Tier Risk Rating System) - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2018 | |
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 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | $ 834,737 | $ 823,024 | $ 771,206 |
Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 123,515 | 126,372 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 414,666 | 409,953 | 382,183 |
1-2 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 9,065 | 9,205 | |
1-2 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 1,167 | 1,244 | |
3 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 16,752 | 15,277 | |
3 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 31,227 | 32,498 | |
4 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 95,150 | 99,581 | |
4 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 365,841 | 359,600 | |
5 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 1,696 | 1,381 | |
5 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 7,676 | 7,758 | |
6 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 743 | 817 | |
6 [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 8,755 | 8,853 | |
7 [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 109 | 111 | |
Agricultural Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 67,569 | 64,044 | 62,803 |
Agricultural Real Estate [Member] | 1-2 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 4,076 | 4,143 | |
Agricultural Real Estate [Member] | 3 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 13,087 | 15,244 | |
Agricultural Real Estate [Member] | 4 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 49,057 | 43,416 | |
Agricultural Real Estate [Member] | 5 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 1,335 | 1,125 | |
Agricultural Real Estate [Member] | 6 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 14 | 116 | |
Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 99,954 | 95,238 | $ 87,078 |
Agricultural [Member] | 1-2 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 2,109 | 6,558 | |
Agricultural [Member] | 3 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 34,434 | 37,267 | |
Agricultural [Member] | 4 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 62,856 | 51,312 | |
Agricultural [Member] | 5 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 555 | 101 | |
Industrial Development Bonds [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 6,350 | 6,415 | |
Industrial Development Bonds [Member] | 3 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 3,460 | 3,489 | |
Industrial Development Bonds [Member] | 4 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | $ 2,890 | $ 2,926 |
Loans - Recorded Investment for
Loans - Recorded Investment for Consumer Loans, Credit Quality based on Status of Loan and Payment Activity (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | $ 834,737 | $ 823,024 | $ 771,206 |
Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 84,052 | 83,200 | $ 84,081 |
Pass [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 83,716 | 82,632 | |
6 [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 256 | 488 | |
7 [Member] | Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans after net deferred loan fees and costs | 80 | 80 | |
Consumer - Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 3,826 | 4,108 | |
Consumer - Credit [Member] | Performing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 3,826 | 4,108 | |
Consumer - Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 34,805 | 33,694 | |
Consumer - Other [Member] | Performing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 34,791 | 33,666 | |
Consumer - Other [Member] | Nonperforming [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | $ 14 | $ 28 |
Loans - Schedule of Impaired Lo
Loans - Schedule of Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | |
Receivables [Abstract] | ||||
Impaired loans without a valuation allowance | $ 999 | $ 1,131 | $ 1,099 | $ 1,131 |
Impaired loans with a valuation allowance | 607 | 614 | 694 | 614 |
Total impaired loans | 1,606 | 1,745 | 1,793 | 1,745 |
Valuation allowance related to impaired loans | 104 | 106 | 117 | 106 |
Total non-accrual loans | 900 | 1,003 | 1,430 | 1,003 |
Total loans past-due ninety days or more and still accruing | 0 | 0 | 0 | 0 |
Average investment in impaired loans | $ 1,688 | $ 2,160 | $ 1,832 | $ 1,885 |
Loans (Impaired Loans) - Additi
Loans (Impaired Loans) - Additional Information (Detail) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans classified as troubled debt restructured | $ 527 | $ 551 | $ 534 |
TDR loans, subsequently defaulted during the period | 0 | 0 | |
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 | $ 651 | $ 674 | |
Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Foreclosed residential real estate property | 3 | $ 169 | |
Residential real estate properties foreclosure proceedings | $ 49 | $ 190 |
Loans - Loans Individually Eval
Loans - Loans Individually Evaluated for Impairment by Portfolio Class of Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | ||||
With no related allowance recorded, Recorded Investment | $ 999 | $ 1,131 | $ 1,099 | $ 1,131 |
With a specific allowance recorded, Recorded Investment | 607 | 614 | 694 | 614 |
Related Allowance | 104 | 106 | 117 | 106 |
Recorded Investment | 1,606 | 1,745 | 1,793 | 1,745 |
Related Allowance | 104 | 106 | 117 | 106 |
Average Recorded Investment | 1,688 | $ 2,160 | 1,832 | $ 1,885 |
Agricultural Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
With no related allowance recorded, Recorded Investment | 101 | |||
With no related allowance recorded, Unpaid Principal Balance | 101 | |||
With no related allowance recorded, Average Recorded Investment | 67 | 121 | ||
With a specific allowance recorded, Interest Income Recognized Cash Basis | 0 | 0 | ||
Recorded Investment | 101 | |||
Unpaid Principal Balance | 101 | |||
Average Recorded Investment | 67 | 121 | ||
Agricultural [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
With a specific allowance recorded, Interest Income Recognized Cash Basis | 0 | 0 | ||
Consumer Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
With no related allowance recorded, Recorded Investment | 489 | 998 | ||
With no related allowance recorded, Unpaid Principal Balance | 489 | 998 | ||
With no related allowance recorded, Average Recorded Investment | 492 | 1,003 | ||
With no related allowance recorded, Interest Income Recognized | 8 | 8 | ||
With no related allowance recorded, Interest Income Recognized Cash Basis | 6 | 6 | ||
With a specific allowance recorded, Recorded Investment | 80 | 83 | ||
With a specific allowance recorded, Unpaid Principal Balance | 80 | 83 | ||
Related Allowance | 20 | 23 | ||
With a specific allowance recorded, Average Recorded Investment | 80 | 94 | ||
With a specific allowance recorded, Interest Income Recognized Cash Basis | 0 | 0 | ||
Recorded Investment | 569 | 1,081 | ||
Unpaid Principal Balance | 569 | 1,081 | ||
Related Allowance | 20 | 23 | ||
Average Recorded Investment | 572 | 1,097 | ||
Interest Income Recognized | 8 | 8 | ||
Interest Income Recognized Cash Basis | 6 | 6 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
With no related allowance recorded, Recorded Investment | 200 | |||
With no related allowance recorded, Unpaid Principal Balance | 200 | |||
With no related allowance recorded, Average Recorded Investment | 201 | |||
With no related allowance recorded, Interest Income Recognized | 3 | |||
With a specific allowance recorded, Recorded Investment | 418 | 496 | ||
With a specific allowance recorded, Unpaid Principal Balance | 418 | 496 | ||
Related Allowance | 42 | 61 | ||
With a specific allowance recorded, Average Recorded Investment | 420 | 498 | ||
With a specific allowance recorded, Interest Income Recognized | 4 | 5 | ||
With a specific allowance recorded, Interest Income Recognized Cash Basis | 0 | 0 | ||
Recorded Investment | 618 | 496 | ||
Unpaid Principal Balance | 618 | 496 | ||
Related Allowance | 42 | 61 | ||
Average Recorded Investment | 621 | 498 | ||
Interest Income Recognized | 7 | 5 | ||
Consumer [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
With a specific allowance recorded, Interest Income Recognized Cash Basis | 0 | 0 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
With no related allowance recorded, Recorded Investment | 310 | |||
With no related allowance recorded, Unpaid Principal Balance | 310 | |||
With no related allowance recorded, Average Recorded Investment | 209 | |||
With no related allowance recorded, Interest Income Recognized | 4 | |||
With a specific allowance recorded, Recorded Investment | 109 | 115 | ||
With a specific allowance recorded, Unpaid Principal Balance | 109 | 115 | ||
Related Allowance | 42 | 33 | ||
With a specific allowance recorded, Average Recorded Investment | 219 | 116 | ||
With a specific allowance recorded, Interest Income Recognized Cash Basis | 0 | 0 | ||
Recorded Investment | 419 | 115 | ||
Unpaid Principal Balance | 419 | 115 | ||
Related Allowance | 42 | 33 | ||
Average Recorded Investment | 428 | $ 116 | ||
Interest Income Recognized | $ 4 |
Loans - Summary of Activities i
Loans - Summary of Activities in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for Loan Losses | ||||
Balance at beginning of year | $ 6,868 | $ 6,784 | $ 6,784 | |
Provision for loan loss | 40 | 73 | 222 | |
Loans charged off | (145) | (44) | (288) | |
Recoveries | 37 | 37 | 150 | |
Balance at ending of year | 6,800 | 6,868 | ||
Allowance for Unfunded Loan Commitments & Letters of Credit | 265 | 227 | ||
Total Allowance for Credit Losses | $ 7,065 | $ 7,069 | $ 7,095 | $ 7,001 |
Loans - Analysis of Allowance f
Loans - Analysis of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
ALLOWANCE FOR CREDIT LOSSES: | |||
Beginning balance | $ 7,095 | $ 7,001 | $ 7,001 |
Charge Offs | (145) | (44) | (288) |
Recoveries | 37 | 37 | 150 |
Provision (Credit) | 40 | 73 | 222 |
Other Non-interest expense related to unfunded | 38 | 2 | |
Ending Balance | 7,065 | 7,069 | 7,095 |
Ending balance: individually evaluated for impairment | 104 | 117 | |
Ending balance: collectively evaluated for impairment | 6,961 | 6,952 | |
Ending balance: loans acquired with deteriorated credit quality | 0 | 0 | |
FINANCING RECEIVABLES: | |||
Ending balance | 834,737 | 771,206 | 823,024 |
Ending balance: individually evaluated for impairment | 1,606 | 1,793 | |
Ending balance: collectively evaluated for impairment | 833,131 | 769,413 | |
Agricultural Real Estate [Member] | |||
ALLOWANCE FOR CREDIT LOSSES: | |||
Beginning balance | 244 | 241 | 241 |
Provision (Credit) | 19 | 3 | |
Ending Balance | 263 | 244 | 244 |
Ending balance: collectively evaluated for impairment | 263 | 244 | |
Ending balance: loans acquired with deteriorated credit quality | 0 | 0 | |
FINANCING RECEIVABLES: | |||
Ending balance | 67,569 | 62,803 | 64,044 |
Ending balance: individually evaluated for impairment | 101 | ||
Ending balance: collectively evaluated for impairment | 67,569 | 62,702 | |
Agricultural [Member] | |||
ALLOWANCE FOR CREDIT LOSSES: | |||
Beginning balance | 667 | 616 | 616 |
Recoveries | 3 | 1 | |
Provision (Credit) | 36 | 17 | |
Ending Balance | 706 | 634 | 667 |
Ending balance: collectively evaluated for impairment | 706 | 634 | |
Ending balance: loans acquired with deteriorated credit quality | 0 | 0 | |
FINANCING RECEIVABLES: | |||
Ending balance | 99,954 | 87,078 | 95,238 |
Ending balance: collectively evaluated for impairment | 99,954 | 87,078 | |
Commercial And Industrial and Industrial Development Bonds [Member] | |||
ALLOWANCE FOR CREDIT LOSSES: | |||
Beginning balance | 1,546 | 1,318 | 1,318 |
Recoveries | 2 | 3 | |
Provision (Credit) | (105) | (22) | |
Ending Balance | 1,443 | 1,299 | 1,546 |
Ending balance: individually evaluated for impairment | 42 | 33 | |
Ending balance: collectively evaluated for impairment | 1,401 | 1,266 | |
Ending balance: loans acquired with deteriorated credit quality | 0 | 0 | |
FINANCING RECEIVABLES: | |||
Ending balance | 129,865 | 121,183 | 132,787 |
Ending balance: individually evaluated for impairment | 419 | 115 | |
Ending balance: collectively evaluated for impairment | 129,446 | 121,068 | |
Unfunded Loan Commitment & Letters of Credit [Member] | |||
ALLOWANCE FOR CREDIT LOSSES: | |||
Beginning balance | 227 | 217 | 217 |
Other Non-interest expense related to unfunded | 38 | 2 | |
Ending Balance | 265 | 219 | 227 |
Ending balance: collectively evaluated for impairment | 265 | 219 | |
Ending balance: loans acquired with deteriorated credit quality | 0 | 0 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
FINANCING RECEIVABLES: | |||
Ending balance: loans acquired with deteriorated credit quality | 121 | 198 | |
Consumer Real Estate [Member] | |||
ALLOWANCE FOR CREDIT LOSSES: | |||
Beginning balance | 343 | 316 | 316 |
Charge Offs | (34) | ||
Recoveries | 10 | ||
Provision (Credit) | (55) | (49) | |
Ending Balance | 254 | 277 | 343 |
Ending balance: individually evaluated for impairment | 20 | 23 | |
Ending balance: collectively evaluated for impairment | 234 | 254 | |
Ending balance: loans acquired with deteriorated credit quality | 0 | 0 | |
FINANCING RECEIVABLES: | |||
Ending balance | 84,052 | 84,081 | 83,200 |
Ending balance: individually evaluated for impairment | 569 | 1,081 | |
Ending balance: collectively evaluated for impairment | 83,483 | 83,000 | |
Consumer Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
FINANCING RECEIVABLES: | |||
Ending balance: loans acquired with deteriorated credit quality | 121 | 198 | |
Commercial Real Estate [Member] | |||
ALLOWANCE FOR CREDIT LOSSES: | |||
Beginning balance | 3,149 | 3,250 | 3,250 |
Charge Offs | (14) | ||
Recoveries | 2 | 2 | |
Provision (Credit) | 537 | (244) | |
Ending Balance | 3,674 | 3,008 | 3,149 |
Ending balance: individually evaluated for impairment | 42 | 61 | |
Ending balance: collectively evaluated for impairment | 3,632 | 2,947 | |
Ending balance: loans acquired with deteriorated credit quality | 0 | 0 | |
FINANCING RECEIVABLES: | |||
Ending balance | 414,666 | 382,183 | 409,953 |
Ending balance: individually evaluated for impairment | 618 | 496 | |
Ending balance: collectively evaluated for impairment | 414,048 | 381,687 | |
Consumer [Member] | |||
ALLOWANCE FOR CREDIT LOSSES: | |||
Beginning balance | 441 | 394 | 394 |
Charge Offs | (97) | (44) | |
Recoveries | 30 | 21 | |
Provision (Credit) | 57 | 26 | |
Ending Balance | 431 | 397 | 441 |
Ending balance: collectively evaluated for impairment | 431 | 397 | |
Ending balance: loans acquired with deteriorated credit quality | 0 | 0 | |
FINANCING RECEIVABLES: | |||
Ending balance | 38,631 | 33,878 | 37,802 |
Ending balance: collectively evaluated for impairment | 38,631 | 33,878 | |
Unallocated [Member] | |||
ALLOWANCE FOR CREDIT LOSSES: | |||
Beginning balance | 478 | 649 | 649 |
Provision (Credit) | (449) | 342 | |
Ending Balance | 29 | 991 | $ 478 |
Ending balance: collectively evaluated for impairment | 29 | 991 | |
Ending balance: loans acquired with deteriorated credit quality | $ 0 | $ 0 |
Earnings Per Share - Calculatio
Earnings Per Share - Calculation of Basic Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Earnings Per Share [Abstract] | |||
Net income | $ 3,767 | $ 2,839 | |
Less: distributed earnings allocated to participating securities | (12) | (10) | |
Less: undistributed earnings allocated to participating securities | (26) | (17) | |
Net earnings available to common shareholders | $ 3,729 | $ 2,812 | |
Weighted average common shares outstanding including participating securities | 9,265,959 | 9,241,750 | |
Less: average unvested restricted shares | (92,429) | (86,300) | |
Weighted average common shares outstanding | 9,173,530 | 9,155,450 | |
Basic earnings and diluted per share | [1] | $ 0.41 | $ 0.31 |
[1] | Share data has been adjusted to reflect a 2-for-1 stock split on September 20, 2017 |
Earnings Per Share - Calculat46
Earnings Per Share - Calculation of Basic Earnings Per Share (Parenthetical) (Detail) | Sep. 20, 2017 |
Earnings Per Share [Abstract] | |
Share stock split ratio | 2 |
Fair Value of Instruments - Add
Fair Value of Instruments - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Interest-bearing deposits maturing date | 90 days | ||
Collateral dependent impaired loans categorized as Level 3 | $ 1,745 | $ 1,606 | $ 1,793 |
Specific allocation for collateral dependent impaired loans | 106 | 104 | $ 117 |
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Collateral dependent impaired loans categorized as Level 3 | $ 508 | $ 503 |
Fair Value of Instruments - Est
Fair Value of Instruments - Estimated Fair Values and Related Carrying or Notional Amounts (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Financial Assets: | ||||
Cash and Cash Equivalents | $ 39,908 | $ 34,467 | $ 39,894 | $ 28,322 |
Interest-bearing time deposits | 4,019 | 4,018 | ||
Securities - available-for-sale | 192,859 | 196,398 | ||
Loans held for sale | 2,769 | 1,221 | ||
Loans, net | 827,937 | 816,156 | ||
Financial Liabilities: | ||||
Non-interest bearing Deposits | 193,665 | 199,114 | ||
Time Deposits | 186,345 | 187,566 | ||
Total deposits | 953,338 | 919,340 | ||
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase | 23,307 | 39,495 | ||
Federal Home Loan Bank advances | 5,000 | 5,000 | ||
Reported Value Measurement [Member] | ||||
Financial Assets: | ||||
Cash and Cash Equivalents | 39,908 | 34,467 | ||
Interest-bearing time deposits | 4,019 | 4,018 | ||
Securities - available-for-sale | 192,859 | 196,398 | ||
Other Securities | 3,717 | 3,717 | ||
Loans held for sale | 2,769 | 1,221 | ||
Loans, net | 827,937 | 816,156 | ||
Interest receivable | 3,782 | 4,276 | ||
Financial Liabilities: | ||||
Interest bearing Deposits | 573,328 | 532,660 | ||
Non-interest bearing Deposits | 193,665 | 199,114 | ||
Time Deposits | 186,345 | 187,566 | ||
Total deposits | 953,338 | 919,340 | ||
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase | 23,307 | 39,495 | ||
Federal Home Loan Bank advances | 5,000 | 5,000 | ||
Interest payable | 302 | 318 | ||
Fair Value [Member] | ||||
Financial Assets: | ||||
Cash and Cash Equivalents | 39,908 | 34,467 | ||
Interest-bearing time deposits | 4,019 | 4,009 | ||
Securities - available-for-sale | 192,859 | 196,398 | ||
Other Securities | 3,717 | 3,717 | ||
Loans held for sale | 2,769 | 1,221 | ||
Loans, net | 813,272 | 819,193 | ||
Interest receivable | 3,782 | 4,276 | ||
Financial Liabilities: | ||||
Interest bearing Deposits | 574,512 | 532,660 | ||
Non-interest bearing Deposits | 193,665 | 199,114 | ||
Time Deposits | 186,392 | 188,335 | ||
Total deposits | 954,569 | 920,109 | ||
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase | 23,307 | 39,495 | ||
Federal Home Loan Bank advances | 4,882 | 5,021 | ||
Interest payable | 302 | 318 | ||
Level 1 [Member] | ||||
Financial Assets: | ||||
Cash and Cash Equivalents | 39,908 | 34,467 | ||
Securities - available-for-sale | 20,839 | 20,978 | ||
Level 2 [Member] | ||||
Financial Assets: | ||||
Interest-bearing time deposits | 4,019 | 4,009 | ||
Securities - available-for-sale | 170,597 | 173,992 | ||
Financial Liabilities: | ||||
Non-interest bearing Deposits | 193,665 | 199,114 | ||
Total deposits | 193,665 | 199,114 | ||
Level 3 [Member] | ||||
Financial Assets: | ||||
Securities - available-for-sale | 1,423 | 1,428 | ||
Other Securities | 3,717 | 3,717 | ||
Loans held for sale | 2,769 | 1,221 | ||
Loans, net | 813,272 | 819,193 | ||
Interest receivable | 3,782 | 4,276 | ||
Financial Liabilities: | ||||
Interest bearing Deposits | 574,512 | 532,660 | ||
Time Deposits | 186,392 | 188,335 | ||
Total deposits | 760,904 | 720,995 | ||
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase | 23,307 | 39,495 | ||
Federal Home Loan Bank advances | 4,882 | 5,021 | ||
Interest payable | $ 302 | $ 318 |
Fair Value of Instruments - Fin
Fair Value of Instruments - Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | $ 192,859 | $ 196,398 |
U.S. Treasury [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | 20,839 | 20,978 |
U.S. Government Agencies [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | 79,493 | 80,466 |
Mortgage-backed Securities [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | 36,862 | 39,510 |
State and Local Governments [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | 55,665 | 55,444 |
Level 1 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | 20,839 | 20,978 |
Level 1 [Member] | Fair Value on a Recurring Basis [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | 20,839 | 20,978 |
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 | 20,839 | 20,978 |
Level 2 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | 170,597 | 173,992 |
Level 2 [Member] | Fair Value on a Recurring Basis [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | 170,597 | 173,992 |
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 | 79,493 | 80,466 |
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 | 36,862 | 39,510 |
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 | 54,242 | 54,016 |
Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | 1,423 | 1,428 |
Level 3 [Member] | Fair Value on a Recurring Basis [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Securities Available for Sale | 1,423 | 1,428 |
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 | $ 1,423 | $ 1,428 |
Fair Value of Instruments - Cha
Fair Value of Instruments - Changes in the Level 3 Fair Value Category of Unobservable Inputs (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | $ 196,398 | |
Ending Balance | 192,859 | |
Level 3 [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 1,428 | |
Ending Balance | 1,423 | |
Level 3 [Member] | State and Local Governments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 1,428 | $ 1,418 |
Change in Market Value | (5) | (4) |
Payments & Maturities | 0 | 0 |
Ending Balance | 1,423 | 1,414 |
Level 3 [Member] | State and Local Governments [Member] | Tax - Exempt [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Payments & Maturities | 0 | 0 |
Level 3 [Member] | State and Local Governments [Member] | Taxable [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 1,428 | 1,418 |
Change in Market Value | (5) | (4) |
Payments & Maturities | 0 | 0 |
Ending Balance | $ 1,423 | $ 1,414 |
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 | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
State and Local Governments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 1,423 | $ 1,428 |
Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 503 | 508 |
Other Real Estate Owned-Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 22 | |
Other Real Estate Owned-Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 266 | |
Minimum [Member] | State and Local Governments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 0.00% | 0.00% |
Minimum [Member] | Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 0.00% | 0.00% |
Minimum [Member] | Other Real Estate Owned-Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 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] | ||
Discount rate | 0.00% | 0.00% |
Maximum [Member] | State and Local Governments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 5.00% | 5.00% |
Maximum [Member] | Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 50.00% | 50.00% |
Maximum [Member] | Other Real Estate Owned-Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 20.00% | 20.00% |
Maximum [Member] | Other Real Estate Owned-Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 20.00% | 20.00% |
Weighted Average [Member] | State and Local Governments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 3.69% | 3.68% |
Weighted Average [Member] | Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 17.11% | 17.28% |
Weighted Average [Member] | Other Real Estate Owned-Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 0.00% | 2.22% |
Weighted Average [Member] | Other Real Estate Owned-Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 0.00% | 5.15% |
Fair Value of Instruments - Imp
Fair Value of Instruments - Impaired Loans and Other Real Estate (Detail) - Fair Value on Nonrecurring Basis [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
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 | $ 503 | $ 508 |
Other Real Estate Owned-Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis, Total | 22 | |
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 | 266 | |
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 | $ 503 | 508 |
Level 3 [Member] | Other Real Estate Owned-Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis, Total | 22 | |
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 | $ 266 |
Federal Funds Purchased and S53
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fees And Commissions Income [Abstract] | ||
Federal funds purchased | $ 0 | $ 10,425 |
Securities sold under agreements to repurchase | $ 23,300 | $ 29,100 |
Federal Funds Purchased and S54
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase - Schedule of Remaining Contractual Maturity in Repurchase Agreements (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Federal funds purchased | $ 0 | $ 10,425 |
Repurchase agreements, Remaining contractual maturity of the agreements | 23,300 | 29,100 |
Total | 23,307 | 39,495 |
US Treasury & Agency Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase agreements, Remaining contractual maturity of the agreements | 23,307 | 29,070 |
Overnight & Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Federal funds purchased | 10,425 | |
Total | 271 | 16,570 |
Overnight & Continuous [Member] | US Treasury & Agency Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase agreements, Remaining contractual maturity of the agreements | 271 | 6,145 |
Greater Than 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total | 23,036 | 22,925 |
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 | $ 23,036 | $ 22,925 |
Recent Accounting Pronounceme55
Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended |
Mar. 31, 2017 | Mar. 31, 2018 | |
Summary Of Significant Accounting Policies [Line Items] | ||
Corporate income tax rate | 21.00% | |
Reclassification of tax effects from AOCI due to adoption of new Tax Cuts and Job Acts | $ 360 | |
Accounting Standards Update 2017-08 [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Accelerated amortization expense adjustment | $ 30 |