Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 09, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | CITIZENS & NORTHERN CORP | ||
Entity Central Index Key | 810,958 | ||
Trading Symbol | cznc | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 12,143,776 | ||
Entity Public Float | $ 237,079,156 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Noninterest-bearing | $ 17,551 | $ 14,710 |
Interest-bearing | 14,558 | 21,351 |
Total cash and due from banks | 32,109 | 36,061 |
Available-for-sale securities, at fair value | 395,077 | 420,290 |
Loans held for sale | 142 | 280 |
Loans receivable | 751,835 | 704,880 |
Allowance for loan losses | (8,473) | (7,889) |
Loans, net | 743,362 | 696,991 |
Bank-owned life insurance | 19,704 | 20,764 |
Accrued interest receivable | 3,963 | 3,768 |
Bank premises and equipment, net | 15,397 | 15,406 |
Foreclosed assets held for sale | 2,180 | 1,260 |
Deferred tax asset, net | 5,117 | 3,115 |
Intangible assets - Goodwill and core deposit intangibles | 11,959 | 11,972 |
Other assets | 13,282 | 13,510 |
TOTAL ASSETS | 1,242,292 | 1,223,417 |
LIABILITIES | ||
Noninterest-bearing | 224,175 | 211,041 |
Interest-bearing | 759,668 | 724,574 |
Total deposits | 983,843 | 935,615 |
Short-term borrowings | 26,175 | 53,496 |
Long-term borrowings | 38,454 | 38,767 |
Accrued interest and other liabilities | 7,812 | 8,052 |
TOTAL LIABILITIES | 1,056,284 | 1,035,930 |
STOCKHOLDERS' EQUITY | ||
Preferred stock, $1,000 par value; authorized 30,000 shares; $1,000 liquidation preference per share; no shares issued | 0 | 0 |
Common stock, par value $1.00 per share; authorized 20,000,000 shares; issued 12,655,171; outstanding 12,113,228 at December 31, 2016 and 12,180,623 December 31, 2015 | 12,655 | 12,655 |
Paid-in capital | 71,730 | 71,654 |
Retained earnings | 112,790 | 109,454 |
Treasury stock, at cost; 541,943 shares at December 31, 2016 and 474,548 shares at December 31, 2015 | (10,269) | (8,804) |
Accumulated other comprehensive (loss) income | (898) | 2,528 |
TOTAL STOCKHOLDERS' EQUITY | 186,008 | 187,487 |
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ 1,242,292 | $ 1,223,417 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Preferred stock, par value (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, authorized shares (in shares) | 30,000 | 30,000 |
Preferred stock, liquidation preference per share (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, shares issued | $ 0 | $ 0 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 12,655,171 | 12,655,171 |
Common stock, shares outstanding (in shares) | 12,113,228 | 12,180,623 |
Treasury stock, shares (in shares) | 541,943 | 474,548 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest and fees on loans: | |||
Taxable | $ 32,827 | $ 31,311 | $ 32,127 |
Tax-exempt | 1,783 | 1,668 | 1,403 |
Interest on mortgages held for sale | 27 | 16 | 16 |
Interest on balances with depository institutions | 116 | 93 | 125 |
Income from available-for-sale securities: | |||
Taxable | 5,846 | 7,303 | 7,721 |
Tax-exempt | 3,429 | 3,844 | 4,310 |
Dividends | 70 | 284 | 307 |
Total interest and dividend income | 44,098 | 44,519 | 46,009 |
INTEREST EXPENSE | |||
Interest on deposits | 2,085 | 1,924 | 2,163 |
Interest on short-term borrowings | 155 | 32 | 9 |
Interest on long-term borrowings | 1,453 | 2,646 | 2,950 |
Total interest expense | 3,693 | 4,602 | 5,122 |
Net interest income | 40,405 | 39,917 | 40,887 |
Provision for loan losses | 1,221 | 845 | 476 |
Net interest income after provision for loan losses | 39,184 | 39,072 | 40,411 |
OTHER INCOME | |||
Service charges on deposit accounts | 4,695 | 4,864 | 5,025 |
Service charges and fees | 439 | 494 | 538 |
Trust and financial management revenue | 4,760 | 4,626 | 4,490 |
Brokerage revenue | 756 | 839 | 901 |
Insurance commissions, fees and premiums | 102 | 109 | 118 |
Interchange revenue from debit card transactions | 1,943 | 1,935 | 1,959 |
Net gains from sale of loans | 1,029 | 735 | 768 |
Decrease in fair value of servicing rights | (282) | (162) | (27) |
Increase in cash surrender value of life insurance | 382 | 386 | 376 |
Other operating income | 1,687 | 1,652 | 1,272 |
Sub-total | 15,511 | 15,478 | 15,420 |
Realized gains on available-for-sale securities, net | 1,158 | 2,861 | 1,104 |
Total other income | 16,669 | 18,339 | 16,524 |
OTHER EXPENSES | |||
Salaries and wages | 15,411 | 14,682 | 15,121 |
Pensions and other employee benefits | 4,717 | 4,420 | 4,769 |
Occupancy expense, net | 2,340 | 2,574 | 2,628 |
Furniture and equipment expense | 1,730 | 1,860 | 1,859 |
FDIC assessments | 488 | 603 | 600 |
Pennsylvania shares tax | 1,274 | 1,248 | 1,350 |
Professional fees | 1,126 | 638 | 699 |
Automated teller machine and interchange expense | 1,137 | 988 | 924 |
Software subscriptions | 981 | 876 | 784 |
Loss on prepayment of debt | 0 | 2,573 | 0 |
Other operating expense | 5,540 | 5,141 | 5,423 |
Total other expenses | 34,744 | 35,603 | 34,157 |
Income before income tax provision | 21,109 | 21,808 | 22,778 |
Effective income tax provision | 5,347 | 5,337 | 5,692 |
NET INCOME | $ 15,762 | $ 16,471 | $ 17,086 |
NET INCOME PER SHARE - BASIC (in dollars per share) | $ 1.30 | $ 1.35 | $ 1.38 |
NET INCOME PER SHARE - DILUTED (in dollars per share) | $ 1.30 | $ 1.35 | $ 1.38 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 15,762 | $ 16,471 | $ 17,086 |
Unrealized (losses) gains on available-for-sale securities: | |||
Unrealized holding (losses) gains on available-for-sale securities | (4,138) | (1,429) | 10,774 |
Reclassification adjustment for gains realized in income | (1,158) | (2,861) | (1,104) |
Other comprehensive (loss) gain on available-for-sale securities | (5,296) | (4,290) | 9,670 |
Unfunded pension and postretirement obligations: | |||
Changes from plan amendments and actuarial gains and losses included in accumulated other comprehensive gain (loss) | 46 | (135) | (79) |
Amortization of net transition obligation, prior service cost, net actuarial (gain) loss, and loss on settlement included in net periodic benefit cost | (22) | 67 | 184 |
Other comprehensive gain (loss) on unfunded retirement obligations | 24 | (68) | 105 |
Other comprehensive (loss) income before income tax | (5,272) | (4,358) | 9,775 |
Income tax related to other comprehensive loss (income) | 1,846 | 1,526 | (3,422) |
Net other comprehensive (loss) income | (3,426) | (2,832) | 6,353 |
Comprehensive income | $ 12,336 | $ 13,639 | $ 23,439 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2013 | 12,596,540 | 206,477 | ||||
Balance at Dec. 31, 2013 | $ 12,596 | $ (3,452) | $ 70,105 | $ 101,216 | $ (993) | $ 179,472 |
Net income | 17,086 | 17,086 | ||||
Net other comprehensive (loss) income | 6,353 | 6,353 | ||||
Cash dividends declared on common stock, $1.04 per share | (12,889) | (12,889) | ||||
Shares issued for dividend reinvestment Plan (in shares) | 59,498 | (18,473) | ||||
Shares issued for dividend reinvestment Plan | $ 60 | $ 368 | 1,069 | 1,497 | ||
Treasury stock purchased (in shares) | 208,300 | |||||
Treasury stock purchased | $ (4,002) | (4,002) | ||||
Shares issued from treasury related to exercise of stock options (in shares) | (867) | (11,860) | ||||
Shares issued from treasury related to exercise of stock options | $ (1) | $ 188 | (64) | 123 | ||
Restricted stock granted (in shares) | (16,711) | |||||
Restricted stock granted | $ 279 | (279) | 0 | |||
Forfeiture of restricted stock (in shares) | 7,458 | |||||
Forfeiture of restricted stock | $ (125) | 125 | 0 | |||
Stock-based compensation expense | 565 | 565 | ||||
Tax benefit from compensation plans | 20 | 137 | 157 | |||
Balance (in shares) at Dec. 31, 2014 | 12,655,171 | 375,191 | ||||
Balance at Dec. 31, 2014 | $ 12,655 | $ (6,744) | 71,541 | 105,550 | 5,360 | 188,362 |
Net income | 16,471 | 16,471 | ||||
Net other comprehensive (loss) income | (2,832) | (2,832) | ||||
Cash dividends declared on common stock, $1.04 per share | (12,710) | (12,710) | ||||
Shares issued for dividend reinvestment Plan (in shares) | (73,810) | |||||
Shares issued for dividend reinvestment Plan | $ 1,379 | 86 | 1,465 | |||
Treasury stock purchased (in shares) | 226,900 | |||||
Treasury stock purchased | $ (4,415) | (4,415) | ||||
Shares issued from treasury related to exercise of stock options (in shares) | (22,435) | |||||
Shares issued from treasury related to exercise of stock options | $ 408 | (27) | 381 | |||
Restricted stock granted (in shares) | (34,800) | |||||
Restricted stock granted | $ 627 | (627) | 0 | |||
Forfeiture of restricted stock (in shares) | 3,502 | |||||
Forfeiture of restricted stock | $ (59) | 59 | 0 | |||
Stock-based compensation expense | 606 | 606 | ||||
Tax benefit from compensation plans | 16 | 143 | 159 | |||
Balance (in shares) at Dec. 31, 2015 | 12,655,171 | 474,548 | ||||
Balance at Dec. 31, 2015 | $ 12,655 | $ (8,804) | 71,654 | 109,454 | 2,528 | 187,487 |
Net income | 15,762 | 15,762 | ||||
Net other comprehensive (loss) income | (3,426) | (3,426) | ||||
Cash dividends declared on common stock, $1.04 per share | (12,578) | (12,578) | ||||
Shares issued for dividend reinvestment Plan (in shares) | (68,571) | |||||
Shares issued for dividend reinvestment Plan | $ 1,296 | 170 | 1,466 | |||
Treasury stock purchased (in shares) | 187,300 | |||||
Treasury stock purchased | $ (3,723) | (3,723) | ||||
Shares issued from treasury related to exercise of stock options (in shares) | (19,113) | |||||
Shares issued from treasury related to exercise of stock options | $ 361 | (98) | 263 | |||
Restricted stock granted (in shares) | (35,427) | |||||
Restricted stock granted | $ 658 | (658) | 0 | |||
Forfeiture of restricted stock (in shares) | 3,431 | |||||
Forfeiture of restricted stock | $ (61) | 61 | 0 | |||
Stock-based compensation expense | 578 | 578 | ||||
Tax benefit from compensation plans | 23 | 152 | 175 | |||
Balance (in shares) at Dec. 31, 2016 | 12,655,171 | 541,943 | ||||
Balance at Dec. 31, 2016 | $ 12,655 | $ (10,269) | $ 71,730 | $ 112,790 | $ (898) | 186,008 |
Other stock-based expense (in shares) | (225) | |||||
Other stock-based expense | $ 4 | $ 4 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Retained Earnings [Member] | |||
Common stock, dividends, per share (in dollars per share) | $ 1.04 | $ 1.04 | $ 1.04 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $ 15,762,000 | $ 16,471,000 | $ 17,086,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 1,221,000 | 845,000 | 476,000 |
Realized gains on available-for-sale securities, net | (1,158,000) | (2,861,000) | (1,104,000) |
Loss on prepayment of debt | 0 | 2,573,000 | 0 |
Realized loss (gain) on foreclosed assets | 49,000 | (84,000) | (136,000) |
(Gain) loss on disposition of premises and equipment | (3,000) | 1,000 | (8,000) |
Depreciation expense | 1,589,000 | 1,888,000 | 1,940,000 |
Accretion and amortization on securities, net | 1,462,000 | 1,562,000 | 1,375,000 |
Accretion and amortization on loans and deposits, net | (15,000) | (21,000) | (27,000) |
Decrease in fair value of servicing rights | 282,000 | 162,000 | 27,000 |
Increase in cash surrender value of life insurance | (382,000) | (386,000) | (376,000) |
Gain on life insurance benefits | 0 | (212,000) | 0 |
Stock-based compensation and other expense | 582,000 | 606,000 | 565,000 |
Amortization of core deposit intangibles | 13,000 | 22,000 | 35,000 |
Deferred income taxes | (156,000) | 79,000 | 1,254,000 |
Gains on sales of loans, net | (1,029,000) | (735,000) | (768,000) |
Origination of loans for sale | (29,296,000) | (21,823,000) | (21,680,000) |
Proceeds from sales of loans | 30,215,000 | 22,101,000 | 22,317,000 |
(Increase) decrease in accrued interest receivable and other assets | (410,000) | (1,697,000) | 1,395,000 |
(Decrease) increase in accrued interest payable and other liabilities | (216,000) | 1,195,000 | (90,000) |
Net Cash Provided by Operating Activities | 18,510,000 | 19,686,000 | 22,281,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Proceeds from maturities of certificates of deposit | 1,540,000 | 1,780,000 | 2,560,000 |
Purchase of certificates of deposit | (2,280,000) | (100,000) | (960,000) |
Proceeds from sales of available-for-sale securities | 37,032,000 | 44,504,000 | 56,269,000 |
Proceeds from calls and maturities of available-for-sale securities | 74,477,000 | 89,159,000 | 78,101,000 |
Purchase of available-for-sale securities | (91,896,000) | (40,363,000) | (158,894,000) |
Redemption of Federal Home Loan Bank of Pittsburgh stock | 5,277,000 | 5,029,000 | 2,804,000 |
Purchase of Federal Home Loan Bank of Pittsburgh stock | (5,046,000) | (8,102,000) | (602,000) |
Net (increase) decrease in loans | (49,085,000) | (77,129,000) | 10,317,000 |
Proceeds from bank owned life insurance | 1,442,000 | 1,953,000 | 0 |
Purchase of premises and equipment | (1,580,000) | (1,039,000) | (801,000) |
Proceeds from disposition of premises and equipment | 3,000 | 0 | 43,000 |
Return of principal on limited liability entity investments | 178,000 | 181,000 | 173,000 |
Proceeds from sale of foreclosed assets | 539,000 | 2,536,000 | 1,504,000 |
Net Cash (Used in) Provided by Investing Activities | (29,399,000) | 18,409,000 | (9,486,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Net increase (decrease) in deposits | 48,228,000 | (32,374,000) | 13,473,000 |
Net (decrease) increase in short-term borrowings | (27,321,000) | 47,959,000 | (17,848,000) |
Repayments of long-term borrowings | (313,000) | (36,866,000) | (278,000) |
Purchase of treasury stock | (3,723,000) | (4,415,000) | (4,002,000) |
Sale of treasury stock | 263,000 | 381,000 | 123,000 |
Tax benefit from compensation plans | 175,000 | 159,000 | 157,000 |
Common dividends paid | (11,112,000) | (11,245,000) | (11,392,000) |
Net Cash Provided by (Used in) Financing Activities | 6,197,000 | (36,401,000) | (19,767,000) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (4,692,000) | 1,694,000 | (6,972,000) |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 33,313,000 | 31,619,000 | 38,591,000 |
CASH AND CASH EQUIVALENTS, END OF YEAR | 28,621,000 | 33,313,000 | 31,619,000 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
Accrued purchase of available-for-sale securities | 0 | 0 | 226,000 |
Assets acquired through foreclosure of real estate loans | 1,508,000 | 2,523,000 | 1,665,000 |
Interest paid | 3,698,000 | 4,636,000 | 5,138,000 |
Income taxes paid | $ 5,129,000 | $ 4,827,000 | $ 4,432,000 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1 NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF CONSOLIDATION - NATURE OF OPERATIONS - The Corporation provides Trust and Financial Management services, including administration of trusts and estates, retirement plans, and other employee benefit plans, and investment management services. The Corporation offers a variety of personal and commercial insurance products through C&N Financial Services Corporation. C&N Financial Services Corporation also offers mutual funds, annuities, educational savings accounts and other investment products through registered agents. Management has determined that the Corporation has one The Corporation is subject to competition from other financial institutions. It is also subject to regulation by certain federal and state agencies and undergoes periodic examination by those regulatory authorities. As a consequence, the Corporation’s business is particularly susceptible to being affected by future federal and state legislation and regulations. USE OF ESTIMATES - Material estimates that are particularly susceptible to change include: (1) (2) (3) (4) (5) INVESTMENT SECURITIES - Available-for-sale securities - may may Other-than-temporary impairment (1) (2) (3) (4) Restricted equity securities LOANS HELD FOR SALE LOANS RECEIVABLE - The loans receivable portfolio is segmented into residential mortgage, commercial and consumer loans. The residential mortgage segment includes the following classes: first Loans are placed on nonaccrual status for all classes of loans when, in the opinion of management, collection of interest is doubtful. Any unpaid interest previously accrued on those loans is reversed from income. Interest income is not recognized on specific impaired loans unless the likelihood of further loss is remote. Interest payments received on loans for which the risk of further loss is greater than remote are applied as a reduction of the loan principal balance. Interest income on other nonaccrual loans is recognized only to the extent of interest payments received. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six ALLOWANCE FOR LOAN LOSSES 120 The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Corporation’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may may may December 31, 2016 2015, no The allowance consists primarily of two (1) (2) The specific component relates to loans that are classified as impaired based on a detailed assessment of certain larger loan relationships evaluated by a management committee referred to as the Watch List Committee. Specific loan relationships are identified for evaluation based on the related credit risk rating. For individual loans classified as impaired, an allowance is established when the collateral value less estimated selling costs, present value of discounted cash flows or observable market price of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class including commercial loans not considered individually impaired, as well as smaller balance homogeneous classes of loans, such as residential real estate, home equity lines of credit and other consumer loans. Accordingly, the Corporation generally does not separately identify individual consumer and residential loans for impairment disclosures, unless such loans are subject to a restructuring agreement. The pools of loans for each loan segment are evaluated for loss exposure based upon average historical net charge-off rates (currently thirty six three The qualitative factors used in the general component calculations are designed to address credit risk characteristics associated with each segment. The Corporation’s credit risk associated with all of the segments is significantly impacted by these factors, which include economic conditions within its market area, the Corporation’s lending policies, changes or trends in the portfolio, risk profile, competition, regulatory requirements and other factors. Further, the residential mortgage segment is significantly affected by the values of residential real estate that provide collateral for the loans. The majority of the Corporation’s commercial segment loans (approximately 57% December 31, 2016) Loans are classified as impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial loans by the fair value of the collateral (if the loan is collateral dependent), by future cash flows discounted at the loan’s effective rate or by the loan’s observable market price. For commercial loans secured by real estate, estimated fair values are determined primarily through third For commercial and industrial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging data or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Concessions granted under a troubled debt restructuring generally involve reductions in required payments, an extension of a loan’s stated maturity date or a temporary reduction in interest rate. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings may six BANK PREMISES AND EQUIPMENT IMPAIRMENT OF LONG-LIVED ASSETS may may may FORECLOSED ASSETS HELD FOR SALE GOODWILL AND CORE DEPOSIT INTANGIBLE ASSETS - Goodwill represents the excess of the cost of acquisitions over the fair value of the net assets acquired. Goodwill is tested at least annually for impairment, or more often if events or circumstances indicate there may may . SERVICING RIGHTS INCOME TAXES Tax benefits from investments in limited partnerships that have qualified for federal low-income tax credits are recognized as a reduction in the provision for income tax over the term of the investment using the effective yield method. The Corporation includes income tax penalties in the provision for income tax. The Corporation has no STOCK COMPENSATION PLANS The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option valuation model. The fair value of restricted stock is based on the current market price on the date of grant. OFF-BALANCE SHEET FINANCIAL INSTRUMENTS - CASH FLOWS three TRUST ASSETS AND INCOME |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Accounting Changes and Error Corrections [Text Block] | 2. The Financial Accounting Standards Board (“FASB”) issues Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification (ASC). This section provides a summary description of recent ASUs that have significant implications (elected or required) within the consolidated financial statements, or that management expects may In May 2014, 2014 09, five April 2016, 2016 10, May 2016, 2016 12 December 2016, 2016 20, August 2015 2015 14, first 2018 December 31, 2018. In January 2016, 2016 01, (1) may (2) (3) (4) (5) December 31, 2016 2015, (6) (7) first 2018. In February 2016, 2016 02, 842). 842 12 842 842 842 842 first 2019. In March 2016, 2016 07, first 2017. 2017 In March 2016, 2016 09, may (1) (2) (3) (4) (5) first 2017, 2017 In June 2016, 2016 13, 326). ● The ASU requires that a financial asset (or a group of financial assets) measured at amortized cost basis be presented, net of a valuation allowance for credit losses, at an amount expected to be collected on the financial asset(s), and that the income statement include the measurement of credit losses for newly recognized financial assets as well as changes in expected losses on previously recognized financial assets. The provisions of this ASU require measurement of expected credit losses based on relevant information including past events, historical experience, current conditions, and reasonable and supportive forecasts that affect the collectability of the asset. The provisions of this ASU differ from current U.S. GAAP in that current U.S. GAAP generally delays recognition of the full amount of credit losses until the loss is probable of occurring. ● The amendments in the Update retain many of the disclosure requirements related to credit quality in current U.S. GAAP, updated to reflect the change from an incurred loss methodology to an expected credit loss methodology. In addition, the Update requires that disclosure of credit quality indicators in relation to the amortized cost of financing receivables, a current requirement, be further disaggregated by year of origination. ● This ASU requires that credit losses on available-for-sale debt securities be presented as an allowance rather than as a write-down, and limits the amount of the allowance for credit losses to the amount by which the fair value is below amortized cost. For purchased available-for-sale securities with a more-than-insignificant amount of credit deterioration since origination, the ASU requires an allowance be determined in a manner similar to other available-for-sale debt securities; however, the initial allowance would be added to the purchase price, with only subsequent changes in the allowance recorded in credit loss expense, and interest income recognized at the effective rate excluding the discount embedded in the purchase price related to estimated credit losses at acquisition. ● This ASU will be effective for the Corporation for interim and annual periods beginning in the first 2020. first 2019. 326 The Corporation is in the early stages of evaluating the potential impact of adopting this amendment. In June 2016, 2016 15, 230) eight first 2018. In January 2017, 2017 04, 350) 2 may first 2020. |
Note 3 - Comprehensive Income
Note 3 - Comprehensive Income | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 3. Comprehensive income is the total of (1) (2) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2016 Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $ (4,138 ) $ 1,448 $ (2,690 ) Reclassification adjustment for (gains) realized in income (1,158 ) 406 (752 ) Other comprehensive loss on available-for-sale securities (5,296 ) 1,854 (3,442 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 46 (16 ) 30 Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost (22 ) 8 (14 ) Other comprehensive income on unfunded retirement obligations 24 (8 ) 16 Total other comprehensive loss $ (5,272 ) $ 1,846 $ (3,426 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2015 Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $ (1,429 ) $ 500 $ (929 ) Reclassification adjustment for (gains) realized in income (2,861 ) 1,002 (1,859 ) Other comprehensive loss on available-for-sale securities (4,290 ) 1,502 (2,788 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive loss (135 ) 47 (88 ) Amortization of net transition obligation, prior service cost, net actuarial loss and loss on settlement included in net periodic benefit cost 67 (23 ) 44 Other comprehensive loss on unfunded retirement obligations (68 ) 24 (44 ) Total other comprehensive loss $ (4,358 ) $ 1,526 $ (2,832 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2014 Unrealized gains on available-for-sale securities: Unrealized holding gains on available-for-sale securities $ 10,774 $ (3,771 ) $ 7,003 Reclassification adjustment for (gains) realized in income (1,104 ) 386 (718 ) Other comprehensive income on available-for-sale securities 9,670 (3,385 ) 6,285 Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income (79 ) 28 (51 ) Amortization of net transition obligation, prior service cost, net actuarial loss and loss on settlement included in net periodic benefit cost 184 (65 ) 119 Other comprehensive income on unfunded retirement obligations 105 (37 ) 68 Total other comprehensive income $ 9,775 $ (3,422 ) $ 6,353 Changes in the components of accumulated other comprehensive income (loss), included in stockholders’ equity, are as follows: (In Thousands) Unrealized Unfunded Accumulated Holding Gains Pension and Other (Losses) Postretirement Comprehensive on Securities Obligations Income (Loss) 2016 Balance, beginning of period $ 2,493 $ 35 $ 2,528 Other comprehensive loss before reclassifications (2,690 ) 30 (2,660 ) Amounts reclassified from accumulated other comprehensive (loss) income (752 ) (14 ) (766 ) Other comprehensive (loss) income (3,442 ) 16 (3,426 ) Balance, end of period $ (949 ) $ 51 $ (898 ) 2015 Balance, beginning of period $ 5,281 $ 79 $ 5,360 Other comprehensive loss before reclassifications (929 ) (88 ) (1,017 ) Amounts reclassified from accumulated other comprehensive income (1,859 ) 44 (1,815 ) Other comprehensive loss (2,788 ) (44 ) (2,832 ) Balance, end of period $ 2,493 $ 35 $ 2,528 2014 Balance, beginning of period $ (1,004 ) $ 11 $ (993 ) Other comprehensive income before reclassifications 7,003 (51 ) 6,952 Amounts reclassified from accumulated other comprehensive income (718 ) 119 (599 ) Other comprehensive income 6,285 68 6,353 Balance, end of period $ 5,281 $ 79 $ 5,360 Items reclassified out of each component of other comprehensive income are as follows: For the Year Ended December 31, 2016 (In Thousands) Details about Accumulated Other Comprehensive Income Components Reclassified from Affected Line Item in the Consolidated Statements of Income Unrealized gains and losses on available-for-sale securities $ (1,158 ) Realized gains on available-for-sale securities, net 406 Income tax provision (752 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 9 Pensions and other employee benefits (22 ) Total before tax 8 Income tax provision (14 ) Net of tax Total reclassifications for the period $ (766 ) For the Year Ended December 31, 2015 (In Thousands) Details about Accumulated Other Comprehensive Income Components Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Unrealized gains and losses on available-for-sale securities $ (2,861 ) Realized gains on available-for-sale securities, net 1,002 Income tax provision (1,859 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 11 Pensions and other employee benefits Loss on settlement 87 Pensions and other employee benefits 67 Total before tax (23 ) Income tax provision 44 Net of tax Total reclassifications for the period $ (1,815 ) For the Year Ended December 31, 2014 (In Thousands) Details about Accumulated Other Comprehensive Income Components Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Unrealized gains and losses on available-for-sale securities $ (1,104 ) Realized gains on available-for-sale securities, net 386 Income tax provision (718 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 19 Pensions and other employee benefits Loss on settlement 196 Pensions and other employee benefits 184 Total before tax (65 ) Income tax provision 119 Net of tax Total reclassifications for the period $ (599 ) |
Note 4 - Per Share Data
Note 4 - Per Share Data | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4. Net income per share is based on the weighted-average number of shares of common stock outstanding. The following data show the amounts used in computing basic and diluted net income per share. As shown in the table that follows, diluted earnings per share is computed using weighted average common shares outstanding, plus weighted-average common shares available from the exercise of all dilutive stock options, less the number of shares that could be repurchased with the proceeds of stock option exercises based on the average share price of the Corporation's common stock during the period. Weighted- Average Earnings Net Common Per Income Shares Share 2016 Earnings per share – basic $ 15,762,000 12,098,129 $ 1.30 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 215,581 Hypothetical share repurchase at $21.23 (185,346 ) Earnings per share – diluted $ 15,762,000 12,128,364 $ 1.30 Weighted- Average Earnings Net Common Per Income Shares Share 2015 Earnings per share – basic $ 16,471,000 12,211,941 $ 1.35 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 210,402 Hypothetical share repurchase at $20.04 (188,570 ) Earnings per share – diluted $ 16,471,000 12,233,773 $ 1.35 2014 Earnings per share – basic $ 17,086,000 12,390,067 $ 1.38 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 224,015 Hypothetical share repurchase at $19.41 (202,032 ) Earnings per share – diluted $ 17,086,000 12,412,050 $ 1.38 Stock options that were anti-dilutive were excluded from net income per share calculations. Weighted-average common shares available from anti-dilutive instruments totaled 31,153 2016, 61,590 2015 151,310 2014. |
Note 5 - Cash and Due From Bank
Note 5 - Cash and Due From Banks | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 5. Cash and due from banks at December 31, 2016 2015 (In thousands) Dec. 31, Dec. 31, 2016 2015 Cash and cash equivalents $ 28,621 $ 33,313 Certificates of deposit 3,488 2,748 Total cash and due from banks $ 32,109 $ 36,061 Certificates of deposit are issues by U.S. banks with original maturities greater than three The Corporation is required to maintain reserves against deposit liabilities in the form of cash and balances with the Federal Reserve Bank. The reserves are based on deposit levels, account activity, and other services provided by the Federal Reserve Bank. Required reserves were $16,654,000 December 31, 2016 $15,327,000 December 31, 2015. |
Note 6 - Fair Value Measurement
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 6. FAIR VALUE MEASUREMENTS AND FAIR VALUES OF FINANCIAL INSTRUMENTS The Corporation measures certain assets at fair value. Fair value is defined as the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. FASB ASC topic 820, three Level 1 Level 2 1 2 Level 3 3 The Corporation monitors and evaluates available data relating to fair value measurements on an ongoing basis and recognizes transfers among the levels of the fair value hierarchy as of the date of an event or change in circumstances that affects the valuation method chosen. Examples of such changes may At December 31, 2016 2015, December 31, 2016 Quoted Prices Other in Active Observable Unobservable Total Markets Inputs Inputs Fair (In Thousands) (Level 1) (Level 2) (Level 3) Value Recurring fair value measurements AVAILABLE-FOR-SALE SECURITIES: Obligations of U.S. Government agencies $ 0 $ 9,541 $ 0 $ 9,541 Obligations of states and political subdivisions: Tax-exempt 0 119,037 0 119,037 Taxable 0 30,297 0 30,297 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 0 58,404 0 58,404 Residential collateralized mortgage obligations 0 146,608 0 146,608 Commercial mortgage-backed securities 0 30,219 0 30,219 Total debt securities 0 394,106 0 394,106 Marketable equity securities 971 0 0 971 Total available-for-sale securities 971 394,106 0 395,077 Servicing rights 0 0 1,262 1,262 Total recurring fair value measurements $ 971 $ 394,106 $ 1,262 $ 396,339 Nonrecurring fair value measurements Impaired loans with a valuation allowance $ 0 $ 0 $ 3,372 $ 3,372 Valuation allowance 0 0 (674 ) (674 ) Impaired loans, net 0 0 2,698 2,698 Foreclosed assets held for sale 0 0 2,180 2,180 Total nonrecurring fair value measurements $ 0 $ 0 $ 4,878 $ 4,878 December 31, 2015 Quoted Prices Other in Active Observable Unobservable Total Markets Inputs Inputs Fair (In Thousands) (Level 1) (Level 2) (Level 3) Value Recurring fair value measurements AVAILABLE-FOR-SALE SECURITIES: Obligations of U.S. Government agencies $ 0 $ 10,483 $ 0 $ 10,483 Obligations of states and political subdivisions: Tax-exempt 0 107,757 0 107,757 Taxable 0 34,597 0 34,597 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 0 73,343 0 73,343 Residential collateralized mortgage obligations 0 191,715 0 191,715 Collateralized debt obligations 0 9 0 9 Total debt securities 0 417,904 0 417,904 Marketable equity securities 2,386 0 0 2,386 Total available-for-sale securities 2,386 417,904 0 420,290 Servicing rights 0 0 1,296 1,296 Total recurring fair value measurements $ 2,386 $ 417,904 $ 1,296 $ 421,586 Nonrecurring fair value measurements Impaired loans with a valuation allowance $ 0 $ 0 $ 1,933 $ 1,933 Valuation allowance 0 0 (820 ) (820 ) Impaired loans, net 0 0 1,113 1,113 Foreclosed assets held for sale 0 0 1,260 1,260 Total nonrecurring fair value measurements $ 0 $ 0 $ 2,373 $ 2,373 Loans are classified as impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Foreclosed assets held for sale consist of real estate acquired by foreclosure. For impaired commercial loans secured by real estate and foreclosed assets held for sale, estimated fair values are determined primarily using values from third Management’s evaluation and selection of valuation techniques and the unobservable inputs used in determining the fair values of assets valued using Level 3 December 31, 2016 2015 3 Fair Value at 12/31/16 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 12/31/16 Servicing rights $ 1,262 Discounted cash flow Discount rate 13.00 % Rate used through modeling period Loan prepayment speeds 138.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $ 1.94 Miscellaneous fees per account per month Servicing costs $ 6.00 Monthly servicing cost per account $ 24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs Fair Value at 12/31/15 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 12/31/15 Servicing rights $ 1,296 Discounted cash flow Discount rate 10.00 % Rate used through modeling period Loan prepayment speeds 146.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $ 1.94 Miscellaneous fees per account per month Servicing costs $ 6.00 Monthly servicing cost per account $ 24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs The fair value of servicing rights is affected by expected future interest rates. Increases (decreases) in future expected interest rates tend Following is a reconciliation of activity for Level 3 (In Thousands) Years Ended December 31, 2016 2015 2014 Balance, beginning of period $ 1,296 $ 1,281 $ 1,123 Issuances of servicing rights 248 177 185 Unrealized losses included in earnings (282 ) (162 ) (27 ) Balance, end of period $ 1,262 $ 1,296 $ 1,281 Loans are classified as impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Foreclosed assets held for sale consist of real estate acquired by foreclosure. For impaired commercial loans secured by real estate and foreclosed assets held for sale, estimated fair values are determined primarily using values from third At December 31, 2016 2015, 3 (In Thousands, Except Value at Percentages) Valuation 12/31/16 Balance at Allowance at Fair Value at Valuation Unobservable (Weighted Asset 12/31/16 12/31/16 12/31/16 Technique Inputs Average) Impaired loans: Commercial: Commercial loans secured by real estate $ 2,773 $ 528 $ 2,245 Sales comparison Discount to appraised value 7 % Commercial and industrial 95 95 0 Sales comparison Discount to appraised value 100 % Loans secured by farmland 504 51 453 Sales comparison Discount to appraised value 55 % Total impaired loans $ 3,372 $ 674 $ 2,698 Foreclosed assets held for sale - real estate: Residential (1-4 family) $ 1,102 $ 0 $ 1,102 Sales comparison Discount to appraised value 35 % Land 650 0 650 Sales comparison Discount to appraised value 33 % Commercial real estate 428 0 428 Sales comparison Discount to appraised value 50 % Total foreclosed assets held for sale $ 2,180 $ 0 $ 2,180 (In Thousands, Except Value at Percentages) Valuation 12/31/15 Balance at Allowance at Fair Value at Valuation Unobservable (Weighted Asset 12/31/15 12/31/15 12/31/15 Technique Inputs Average) Impaired loans: Residential mortgage loans - first liens $ 42 $ 1 $ 41 Sales comparison Discount to appraised value 31 % Commercial: Commercial loans secured by real estate 317 97 220 Sales comparison Discount to appraised value 46 % Commercial and industrial 75 75 0 Sales comparison Discount to appraised value 31 % Loans secured by farmland 512 52 460 Sales comparison Discount to appraised value 49 % Multi-family (5 or more) residential 987 595 392 Sales comparison Discount to appraised value 41 % Total impaired loans $ 1,933 $ 820 $ 1,113 Foreclosed assets held for sale - real estate: Residential (1-4 family) $ 556 $ 0 $ 556 Sales comparison Discount to appraised value 32 % Land 704 0 704 Sales comparison Discount to appraised value 29 % Total foreclosed assets held for sale $ 1,260 $ 0 $ 1,260 Certain of the Corporation’s financial instruments are not measured at fair value in the consolidated financial statements. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may may The Corporation used the following methods and assumptions in estimating fair value disclosures for financial instruments: CASH AND CASH EQUIVALENTS - CERTIFICATES OF DEPOSIT - SECURITIES - LOANS HELD FOR SALE - LOANS - SERVICING RIGHTS - DEPOSITS - December 31, 2016 2015. BORROWED FUNDS - ACCRUED INTEREST - OFF-BALANCE SHEET COMMITMENTS - third The estimated fair values, and related carrying amounts, of the Corporation’s financial instruments are as follows: (In Thousands) Valuation December 31, 2016 December 31, 2015 Method(s) Carrying Fair Carrying Fair Used Amount Value Amount Value Financial assets: Cash and cash equivalents Level 1 $ 28,621 $ 28,621 $ 33,313 $ 33,313 Certificates of deposit Level 2 3,488 3,481 2,748 2,752 Available-for-sale securities See Above 395,077 395,077 420,290 420,290 Restricted equity securities (included in Other Assets) Level 2 4,426 4,426 4,657 4,657 Loans held for sale Level 2 142 142 280 280 Loans, net Level 3 743,362 725,787 696,991 685,552 Accrued interest receivable Level 2 3,963 3,963 3,768 3,768 Servicing rights Level 3 1,262 1,262 1,296 1,296 Financial liabilities: Deposits with no stated maturity Level 2 771,625 771,625 713,931 713,931 Time deposits Level 2 212,218 212,274 221,684 221,891 Short-term borrowings Level 2 26,175 26,024 53,496 53,398 Long-term borrowings Level 2 38,454 39,062 38,767 40,166 Accrued interest payable Level 2 65 65 70 70 |
Note 7 - Securities
Note 7 - Securities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7. Amortized cost and fair value of available-for-sale securities at December 31, 2016 2015 December 31, 2016 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (In Thousands) Cost Gains Losses Value Obligations of U.S. Government agencies $ 9,671 $ 5 $ (135 ) $ 9,541 Obligations of states and political subdivisions: Tax-exempt 118,140 2,592 (1,695 ) 119,037 Taxable 30,073 303 (79 ) 30,297 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 58,922 306 (824 ) 58,404 Residential collateralized mortgage obligations 147,915 408 (1,715 ) 146,608 Commercial mortgage-backed securities 30,817 0 (598 ) 30,219 Total debt securities 395,538 3,614 (5,046 ) 394,106 Marketable equity securities 1,000 0 (29 ) 971 Total $ 396,538 $ 3,614 $ (5,075 ) $ 395,077 December 31, 2015 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (In Thousands) Cost Gains Losses Value Obligations of U.S. Government agencies $ 10,663 $ 12 $ (192 ) $ 10,483 Obligations of states and political subdivisions: Tax-exempt 103,414 4,365 (22 ) 107,757 Taxable 34,317 381 (101 ) 34,597 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 73,227 486 (370 ) 73,343 Residential collateralized mortgage obligations 193,145 623 (2,053 ) 191,715 Collateralized debt obligations: 9 0 0 9 Total debt securities 414,775 5,867 (2,738 ) 417,904 Marketable equity securities 1,680 706 0 2,386 Total $ 416,455 $ 6,573 $ (2,738 ) $ 420,290 The following table presents gross unrealized losses and fair value of available-for-sale securities with unrealized loss positions that are not deemed to be other-than-temporarily impaired, aggregated by length of time that individual securities have been in a continuous unrealized loss position at December 31, 2016 2015: December 31, 2016 Less Than 12 Months 12 Months or More Total (In Thousands) Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of U.S. Government agencies $ 7,899 $ (135 ) $ 0 $ 0 $ 7,899 $ (135 ) Obligations of states and political subdivisions: Tax-exempt 54,479 (1,676 ) 1,278 (19 ) 55,757 (1,695 ) Taxable 9,594 (79 ) 0 0 9,594 (79 ) Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 48,674 (824 ) 0 0 48,674 (824 ) Residential collateralized mortgage obligations 85,198 (1,124 ) 16,073 (591 ) 101,271 (1,715 ) Commercial mortgage-backed securities 30,219 (598 ) 0 0 30,219 (598 ) Total debt securities 236,063 (4,436 ) 17,351 (610 ) 253,414 (5,046 ) Marketable equity securities 1,000 (29 ) 0 0 1,000 (29 ) Total temporarily impaired available-for-sale securities $ 237,063 $ (4,465 ) $ 17,351 $ (610 ) $ 254,414 $ (5,075 ) December 31, 2015 Less Than 12 Months 12 Months or More Total (In Thousands) Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of U.S. Government agencies $ 0 $ 0 $ 7,850 $ (192 ) $ 7,850 $ (192 ) Obligations of states and political subdivisions: Tax-exempt 5,200 (19 ) 216 (3 ) 5,416 (22 ) Taxable 10,605 (60 ) 2,910 (41 ) 13,515 (101 ) Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 38,764 (295 ) 3,503 (75 ) 42,267 (370 ) Residential collateralized mortgage obligations 88,355 (648 ) 49,273 (1,405 ) 137,628 (2,053 ) Total temporarily impaired available-for-sale securities $ 142,924 $ (1,022 ) $ 63,752 $ (1,716 ) $ 206,676 $ (2,738 ) Gross realized gains and losses from available-for-sale securities and the related income tax provision were as follows: (In Thousands) 2016 2015 2014 Gross realized gains from sales $ 1,392 $ 2,972 $ 1,328 Gross realized losses from sales (234 ) (111 ) (224 ) Net realized gains $ 1,158 $ 2,861 $ 1,104 Income tax provision related to net realized gains $ 406 $ 1,002 $ 386 The amortized cost and fair value of available-for-sale debt securities by contractual maturity are shown in the following table as of December 31, 2016. may may December 31, 2016 Amortized Fair (In Thousands) Cost Value Due in one year or less $ 18,678 $ 18,832 Due from one year through five years 69,558 70,657 Due from five years through ten years 44,527 43,979 Due after ten years 25,121 25,407 Sub-total 157,884 158,875 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 58,922 58,404 Residential collateralized mortgage obligations 147,915 146,608 Commercial mortgage-backed securities 30,817 30,219 Total $ 395,538 $ 394,106 The Corporation’s mortgage-backed securities and collateralized mortgage obligations have stated maturities that may one Investment securities carried at $230,803,000 December 31, 2016 $228,616,000 December 31, 2015 12 Management evaluates securities for OTTI at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (1) (2) (3) The Corporation recognized no December 31, 2016, 2015 2014. A summary of information management considered in evaluating debt and equity securities for OTTI at December 31, 2016 Debt Securities At December 31, 2016 2015, December 31, 2016 Equity Securities The Corporation’s marketable equity securities at December 31, 2016 one December 31, 2015, no 2016, 2015 2014. December 31, 2016, $29,000 Realized gains from sales of equity securities (bank stocks) totaled $1,125,000 2016, $2,220,000 2015 $363,000 2014. C&N Bank is a member of the Federal Home Loan Bank of Pittsburgh (FHLB-Pittsburgh), which is one 11 $4,296,000 December 31, 2016 $4,527,000 December 31, 2015. not December 31, 2016 December 31, 2015. |
Note 8 - Loans
Note 8 - Loans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8. Loans outstanding at December 31, 2016 2015 Summary of Loans by Type (In Thousands) Dec. 31, Dec. 31, 2016 2015 Residential mortgage: Residential mortgage loans - first liens $ 334,102 $ 304,783 Residential mortgage loans - junior liens 23,706 21,146 Home equity lines of credit 38,057 39,040 1-4 Family residential construction 24,908 21,121 Total residential mortgage 420,773 386,090 Commercial: Commercial loans secured by real estate 150,468 154,779 Commercial and industrial 83,854 75,196 Political subdivisions 38,068 40,007 Commercial construction and land 14,287 5,122 Loans secured by farmland 7,294 7,019 Multi-family (5 or more) residential 7,896 9,188 Agricultural loans 3,998 4,671 Other commercial loans 11,475 12,152 Total commercial 317,340 308,134 Consumer 13,722 10,656 Total 751,835 704,880 Less: allowance for loan losses (8,473 ) (7,889 ) Loans, net $ 743,362 $ 696,991 The Corporation grants loans to individuals as well as commercial and tax-exempt entities. Commercial, residential and personal loans are made to customers geographically concentrated in the Pennsylvania and New York counties that make up the market serviced by Citizens & Northern Bank. Although the Corporation has a diversified loan portfolio, a significant portion of its debtors’ ability to honor their contracts is dependent on the local economic conditions within the region. There is no 10% December 31, 2016. Transactions within the allowance for loan losses, summarized by segment and class, were as follows: Year Ended December 31, 2016 Dec. 31 Dec. 31 (In Thousands) 2015 Balance Charge-offs Recoveries Provision (Credit) 2016 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 2,645 $ (73 ) $ 3 $ 458 $ 3,033 Residential mortgage loans - junior liens 219 0 0 39 258 Home equity lines of credit 347 0 0 3 350 1-4 Family residential construction 207 0 0 42 249 Total residential mortgage 3,418 (73 ) 3 542 3,890 Commercial: Commercial loans secured by real estate 1,939 0 2 439 2,380 Commercial and industrial 981 (2 ) 3 17 999 Political subdivisions 0 0 0 0 0 Commercial construction and land 58 0 30 74 162 Loans secured by farmland 106 0 0 4 110 Multi-family (5 or more) residential 675 (595 ) 0 161 241 Agricultural loans 45 0 0 (5 ) 40 Other commercial loans 118 0 0 (3 ) 115 Total commercial 3,922 (597 ) 35 687 4,047 Consumer 122 (87 ) 82 21 138 Unallocated 427 0 0 (29 ) 398 Total Allowance for Loan Losses $ 7,889 $ (757 ) $ 120 $ 1,221 $ 8,473 Year Ended December 31, 2015 Dec. 31, Dec. 31, (In Thousands) 2014 Balance Charge- offs Recoveries Provision (Credit) 2015 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 2,941 $ (175 ) $ 1 $ (122 ) $ 2,645 Residential mortgage loans - junior liens 176 (42 ) 0 85 219 Home equity lines of credit 322 0 0 25 347 1-4 Family residential construction 214 0 0 (7 ) 207 Total residential mortgage 3,653 (217 ) 1 (19 ) 3,418 Commercial: Commercial loans secured by real estate 1,758 (115 ) 208 88 1,939 Commercial and industrial 688 (21 ) 6 308 981 Political subdivisions 0 0 0 0 0 Commercial construction and land 283 (115 ) 0 (110 ) 58 Loans secured by farmland 165 0 0 (59 ) 106 Multi-family (5 or more) residential 87 0 0 588 675 Agricultural loans 31 0 0 14 45 Other commercial loans 131 0 0 (13 ) 118 Total commercial 3,143 (251 ) 214 816 3,922 Consumer 145 (94 ) 55 16 122 Unallocated 395 0 0 32 427 Total Allowance for Loan Losses $ 7,336 $ (562 ) $ 270 $ 845 $ 7,889 Year Ended December 31, 2014 Dec. 31, Dec. 31, (In Thousands) 2013 Balance Charge- offs Recoveries Provision (Credit) 2014 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 2,974 $ (164 ) $ 25 $ 106 $ 2,941 Residential mortgage loans - junior liens 294 (101 ) 0 (17 ) 176 Home equity lines of credit 269 (62 ) 0 115 322 1-4 Family residential construction 168 0 0 46 214 Total residential mortgage 3,705 (327 ) 25 250 3,653 Commercial: Commercial loans secured by real estate 3,123 (1,521 ) 250 (94 ) 1,758 Commercial and industrial 591 (24 ) 9 112 688 Political subdivisions 0 0 0 0 0 Commercial construction and land 267 (170 ) 5 181 283 Loans secured by farmland 115 0 0 50 165 Multi-family (5 or more) residential 103 0 0 (16 ) 87 Agricultural loans 30 0 0 1 31 Other commercial loans 138 0 0 (7 ) 131 Total commercial 4,367 (1,715 ) 264 227 3,143 Consumer 193 (97 ) 47 2 145 Unallocated 398 0 0 (3 ) 395 Total Allowance for Loan Losses $ 8,663 $ (2,139 ) $ 336 $ 476 $ 7,336 In the evaluation of the loan portfolio, management determines two (1) (2) In determining the larger loan relationships for detailed assessment under the specific allowance component, the Corporation uses an internal risk rating system. Under the risk rating system, the Corporation classifies problem or potential problem loans as “Special Mention,” “Substandard,” or “Doubtful” on the basis of currently existing facts, conditions and values. Substandard loans include those characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected. Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loans that do not currently expose the Corporation to sufficient risk to warrant classification as Substandard or Doubtful, but possess weaknesses that deserve management’s close attention, are deemed to be Special Mention. Risk ratings are updated any time that conditions or the situation warrants. Loans not classified are included in the “Pass” column in the table below. The following tables summarize the aggregate credit quality classification of outstanding loans by risk rating as of December 31, 2016 2015: December 31, 2016 (In Thousands) Special Pass Mention Substandard Doubtful Total Residential Mortgage: Residential mortgage loans - first liens $ 324,377 $ 408 $ 9,258 $ 59 $ 334,102 Residential mortgage loans - junior liens 23,274 132 300 0 23,706 Home equity lines of credit 37,360 123 574 0 38,057 1-4 Family residential construction 24,820 0 88 0 24,908 Total residential mortgage 409,831 663 10,220 59 420,773 Commercial: Commercial loans secured by real estate 139,358 3,092 8,018 0 150,468 Commercial and Industrial 79,202 4,180 461 11 83,854 Political subdivisions 38,068 0 0 0 38,068 Commercial construction and land 14,136 70 81 0 14,287 Loans secured by farmland 5,745 129 1,404 16 7,294 Multi-family (5 or more) residential 7,277 0 619 0 7,896 Agricultural loans 3,208 0 790 0 3,998 Other commercial loans 11,401 0 74 0 11,475 Total commercial 298,395 7,471 11,447 27 317,340 Consumer 13,546 0 176 0 13,722 Totals $ 721,772 $ 8,134 $ 21,843 $ 86 $ 751,835 December 31, 2015 (In Thousands) Special Pass Mention Substandard Doubtful Total Residential Mortgage: Residential mortgage loans - first liens $ 295,302 $ 407 $ 9,007 $ 67 $ 304,783 Residential mortgage loans - junior liens 20,558 185 403 0 21,146 Home equity lines of credit 38,071 543 426 0 39,040 1-4 Family residential construction 21,104 17 0 0 21,121 Total residential mortgage 375,035 1,152 9,836 67 386,090 Commercial: Commercial loans secured by real estate 140,381 5,862 8,536 0 154,779 Commercial and Industrial 71,225 2,106 1,737 128 75,196 Political subdivisions 40,007 0 0 0 40,007 Commercial construction and land 4,957 60 105 0 5,122 Loans secured by farmland 5,084 483 1,432 20 7,019 Multi-family (5 or more) residential 7,943 0 1,245 0 9,188 Agricultural loans 4,655 0 16 0 4,671 Other commercial loans 12,073 0 79 0 12,152 Total commercial 286,325 8,511 13,150 148 308,134 Consumer 10,490 21 145 0 10,656 Totals $ 671,850 $ 9,684 $ 23,131 $ 215 $ 704,880 The scope of loans reviewed individually each quarter to determine if they are impaired include all loan relationships greater than $200,000 one December 31, 2016 2015. $200,000 $100,000 The following tables present a summary of loan balances and the related allowance for loan losses summarized by portfolio segment and class for each impairment method used as of December 31, 2016 2015: December 31, 2016 Loans: Allowance for Loan Losses: (In Thousands) Individually Collectively Individually Collectively Evaluated Evaluated Totals Evaluated Evaluated Totals Residential mortgage: Residential mortgage loans - first liens $ 753 $ 333,349 $ 334,102 $ 0 $ 3,033 $ 3,033 Residential mortgage loans - junior liens 68 23,638 23,706 0 258 258 Home equity lines of credit 0 38,057 38,057 0 350 350 1-4 Family residential construction 0 24,908 24,908 0 249 249 Total residential mortgage 821 419,952 420,773 0 3,890 3,890 Commercial: Commercial loans secured by real estate 8,005 142,463 150,468 528 1,852 2,380 Commercial and industrial 212 83,642 83,854 95 904 999 Political subdivisions 0 38,068 38,068 0 0 0 Commercial construction and land 0 14,287 14,287 0 162 162 Loans secured by farmland 1,394 5,900 7,294 51 59 110 Multi-family (5 or more) residential 392 7,504 7,896 0 241 241 Agricultural loans 13 3,985 3,998 0 40 40 Other commercial loans 0 11,475 11,475 0 115 115 Total commercial 10,016 307,324 317,340 674 3,373 4,047 Consumer 23 13,699 13,722 0 138 138 Unallocated 398 Total $ 10,860 $ 740,975 $ 751,835 $ 674 $ 7,401 $ 8,473 December 31, 2015 Loans: Allowance for Loan Losses: (In Thousands) Individually Collectively Individually Collectively Evaluated Evaluated Totals Evaluated Evaluated Totals Residential mortgage: Residential mortgage loans - first liens $ 884 $ 303,899 $ 304,783 $ 1 $ 2,644 $ 2,645 Residential mortgage loans - junior liens 74 21,072 21,146 0 219 219 Home equity lines of credit 0 39,040 39,040 0 347 347 1-4 Family residential construction 0 21,121 21,121 0 207 207 Total residential mortgage 958 385,132 386,090 1 3,417 3,418 Commercial: Commercial loans secured by real estate 6,262 148,517 154,779 97 1,842 1,939 Commercial and industrial 324 74,872 75,196 75 906 981 Political subdivisions 0 40,007 40,007 0 0 0 Commercial construction and land 0 5,122 5,122 0 58 58 Loans secured by farmland 1,427 5,592 7,019 52 54 106 Multi-family (5 or more) residential 987 8,201 9,188 595 80 675 Agricultural loans 16 4,655 4,671 0 45 45 Other commercial loans 0 12,152 12,152 0 118 118 Total commercial 9,016 299,118 308,134 819 3,103 3,922 Consumer 0 10,656 10,656 0 122 122 Unallocated 427 Total $ 9,974 $ 694,906 $ 704,880 $ 820 $ 6,642 $ 7,889 Summary information related to impaired loans as of December 31, 2016 2015 (In Thousands) December 31, 2016 December 31, 2015 Unpaid Unpaid Principal Recorded Related Principal Recorded Related Balance Investment Allowance Balance Investment Allowance With no related allowance recorded: Residential mortgage loans - first liens $ 783 $ 753 $ 0 $ 842 $ 842 $ 0 Residential mortgage loans - junior liens 68 68 0 74 74 0 Commercial loans secured by real estate 6,975 5,232 0 7,580 5,945 0 Commercial and industrial 117 117 0 249 249 0 Loans secured by farmland 890 890 0 915 915 0 Multi-family (5 or more) residential 987 392 0 0 0 0 Agricultural loans 13 13 0 16 16 0 Consumer 23 23 0 0 0 0 Total with no related allowance recorded 9,856 7,488 0 9,676 8,041 0 With a related allowance recorded: Residential mortgage loans - first liens 0 0 0 42 42 1 Commercial loans secured by real estate 2,773 2,773 528 317 317 97 Commercial and industrial 95 95 95 75 75 75 Loans secured by farmland 504 504 51 512 512 52 Multi-family (5 or more) residential 0 0 0 987 987 595 Total with a related allowance recorded 3,372 3,372 674 1,933 1,933 820 Total $ 13,228 $ 10,860 $ 674 $ 11,609 $ 9,974 $ 820 The average balance of impaired loans and interest income recognized on impaired loans is as follows: Interest Income Recognized on Average Investment in Impaired Loans Impaired Loans on a Cash Basis (In Thousands) Year Ended December 31, Year Ended December 31, 2016 2015 2014 2016 2015 2014 Residential mortgage: Residential mortgage loans - first lien $ 806 $ 2,206 $ 4,272 $ 43 $ 86 $ 81 Residential mortgage loans - junior lien 71 64 168 3 4 3 Total residential mortgage 877 2,270 4,440 46 90 84 Commercial: Commercial loans secured by real estate 6,806 6,357 7,192 495 380 469 Commercial and industrial 547 438 877 20 20 37 Commercial construction and land 0 40 395 0 0 9 Loans secured by farmland 1,409 1,459 1,413 94 103 101 Multi-family (5 or more) residential 511 790 0 0 0 0 Agricultural loans 14 21 41 1 3 3 Total commercial 9,287 9,105 9,918 610 506 619 Consumer 21 0 1 1 0 0 Total $ 10,185 $ 11,375 $ 14,359 $ 657 $ 596 $ 703 The breakdown by portfolio segment and class of nonaccrual loans and loans past due ninety (In Thousands) December 31, 2016 December 31, 2015 Past Due Past Due 90+ Days and 90+ Days and Accruing Nonaccrual Accruing Nonaccrual Residential mortgage: Residential mortgage loans - first liens $ 3,022 $ 3,770 $ 2,381 $ 3,044 Residential mortgage loans - junior liens 114 0 79 0 Home equity lines of credit 320 11 130 0 Total residential mortgage 3,456 3,781 2,590 3,044 Commercial: Commercial loans secured by real estate 2,774 3,080 503 5,730 Commercial and industrial 286 119 65 313 Loans secured by farmland 219 1,331 0 1,427 Multi-family (5 or more) residential 0 392 0 987 Agricultural loans 0 13 0 16 Total commercial 3,279 4,935 568 8,473 Consumer 103 20 71 0 Totals $ 6,838 $ 8,736 $ 3,229 $ 11,517 The amounts shown in the table immediately above include loans classified as troubled debt restructurings (described in more detail below), if such loans are considered past due ninety The tables below present a summary of the contractual aging of loans as of December 31, 2016 2015: As of December 31, 2016 As of December 31, 2015 Current & Current & (In Thousands) Past Due Past Due Past Due Past Due Past Due Past Due Less than 30-89 90+ Less than 30-89 90+ 30 Days Days Days Total 30 Days Days Days Total Residential mortgage: Residential mortgage loans - first liens $ 321,670 $ 6,695 $ 5,737 $ 334,102 $ 294,703 $ 6,156 $ 3,924 $ 304,783 Residential mortgage loans - junior liens 23,268 324 114 23,706 20,816 251 79 21,146 Home equity lines of credit 37,603 134 320 38,057 38,581 329 130 39,040 1-4 Family residential construction 24,567 341 0 24,908 21,121 0 0 21,121 Total residential mortgage 407,108 7,494 6,171 420,773 375,221 6,736 4,133 386,090 Commercial: Commercial loans secured by real estate 147,464 82 2,922 150,468 153,427 108 1,244 154,779 Commercial and industrial 83,364 185 305 83,854 75,002 118 76 75,196 Political subdivisions 38,068 0 0 38,068 40,007 0 0 40,007 Commercial construction and land 14,199 88 0 14,287 5,018 104 0 5,122 Loans secured by farmland 6,181 83 1,030 7,294 5,970 223 826 7,019 Multi-family (5 or more) residential 7,439 65 392 7,896 8,201 0 987 9,188 Agricultural loans 3,981 4 13 3,998 4,642 13 16 4,671 Other commercial loans 11,475 0 0 11,475 12,152 0 0 12,152 Total commercial 312,171 507 4,662 317,340 304,419 566 3,149 308,134 Consumer 13,446 153 123 13,722 10,537 48 71 10,656 Totals $ 732,725 $ 8,154 $ 10,956 $ 751,835 $ 690,177 $ 7,350 $ 7,353 $ 704,880 Nonaccrual loans are included in the contractual aging immediately above. A summary of the contractual aging of nonaccrual loans at December 31, 2016 2015 Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Total December 31, 2016 Nonaccrual Totals $ 4,199 $ 419 $ 4,118 $ 8,736 December 31, 2015 Nonaccrual Totals $ 7,100 $ 293 $ 4,124 $ 11,517 Loans whose terms are modified are classified as Troubled Debt Restructurings (TDRs) if the Corporation grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Loans classified as TDRs are designated as impaired and reviewed each quarter to determine if a specific allowance for loan losses is required. The outstanding balance of loans subject to TDRs, as well as the contractual aging information at December 31, 2016 2015 Troubled Debt Restructurings (TDRs): Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Nonaccrual Total December 31, 2016 Totals $ 5,453 $ 350 $ 0 $ 2,874 $ 8,677 December 31, 2015 Totals $ 1,186 $ 0 $ 81 $ 5,097 $ 6,364 At December 31, 2016 2015, no A summary of TDRs that occurred during 2016, 2015 2014 (Balances in Thousands) 2016 2015 2014 Post- Post- Post- Number Modification Number Modification Number Modification of Recorded of Recorded Of Recorded Loans Investment Loans Investment Loans Investment Residential mortgage - first liens: Extended maturity with interest rate reduction 1 $ 71 1 $ 56 1 $ 83 Extended maturity with reduced monthly payments 1 26 0 0 0 0 Interest only payments for a period of one year 0 0 0 0 1 34 Reduced monthly payments for a six-month period 0 0 1 242 1 33 Residential mortgage - junior liens, Interest rate and monthly payment reduction 0 0 1 32 0 0 Commercial loans secured by real estate: Interest only payments for a period of one year 1 2,773 0 0 0 0 Reduced monthly payments 0 0 0 0 5 5,193 Commerc i al and industrial: Extended maturity 1 5 0 0 0 0 Reduced monthly payments 0 0 0 0 1 80 Consumer: Interest rate and monthly payment reduction 0 0 1 30 0 0 New unsecured loan after short-fall from sale of property 1 24 0 0 0 0 Total 5 $ 2,899 4 $ 360 9 $ 5,423 In 2014, six one fifteen fifteen two twelve July 2016. $1,486,000 2014 December 2016, December 31, 2016, $6,529,000, $4,786,000. December 31, 2016. Except for the 2014 2016, 2015 2014. For 2016, 2015 2014, 12 (Balances in Thousands) 2016 2015 2014 Number Number Number of Recorded of Recorded of Recorded Loans Investment Loans Investment Loans Investment Residential mortgage - first liens 2 $ 294 1 $ 32 3 $ 257 Residential mortgage - junior liens 1 29 0 0 1 62 Commercial loans secured by real estate 0 0 0 0 1 429 Commercial and industrial 1 5 0 0 0 0 Commercial construction and land 0 0 0 0 1 25 Loans secured by farmland 0 0 0 0 4 490 Agricultural loans 0 0 0 0 1 13 Consumer 1 27 0 0 0 0 Total 5 $ 355 1 $ 32 11 $ 1,276 The carrying amount of foreclosed residential real estate properties held as a result of obtaining physical possession (included in Foreclosed assets held for sale in the consolidated balance sheets) is as follows: (In Thousands) Dec. 31, Dec. 31, 2016 2015 Foreclosed residential real estate $ 1,102 $ 555 The recorded investment of consumer mortgage loans secured by residential real properties for which formal foreclosure proceedings were in process is as follows: (In Thousands) Dec. 31, Dec. 31, 2016 2015 Residential real estate in process of foreclosure $ 2,738 $ 1,173 |
Note 9 - Bank Premises and Equi
Note 9 - Bank Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 9. Bank premises and equipment are summarized as follows: (In Thousands) December 31, 2016 2015 Land $ 2,818 $ 2,818 Buildings and improvements 27,619 27,092 Furniture and equipment 18,741 17,922 Construction in progress 392 243 Total 49,570 48,075 Less: accumulated depreciation (34,173 ) (32,669 ) Net $ 15,397 $ 15,406 Depreciation expense included in occupancy expense and furniture and equipment expense was as follows: (In Thousands) 201 6 2015 2014 Occupancy expense $ 804 $ 954 $ 998 Furniture and equipment expense 785 934 942 Total $ 1,589 $ 1,888 $ 1,940 |
Note 10 - Intangible Assets
Note 10 - Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 10. There were no 2016 2015. $11,942,000 December 31, 2016 2015. not 2016 2015. In testing goodwill for impairment as of December 31, 2016, two 350. no December 31, 2016. Information related to the core deposit intangibles is as follows: December 31, (In Thousands) 2016 2015 Gross amount $ 2,034 $ 2,034 Less: accumulated amortization (2,017 ) (2,004 ) Net $ 17 $ 30 Amortization expense was $13,000 2016, $22,000 2015 $35,000 2014. five |
Note 11 - Deposits
Note 11 - Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | 11. At December 31, 2016, (In Thousands) 2017 $ 113,974 2018 51,526 2019 25,302 2020 14,458 2021 6,710 Thereafter 248 Total $ 212,218 Included in interest-bearing deposits are time deposits in the amount of $100,000 December 31, 2016, $100,000 (In Thousands) Three months or less $ 32,987 Over 3 months through 12 months 11,663 Over 1 year through 3 years 11,508 Over 3 years 7,605 Total $ 63,763 Interest expense from time deposits of $100,000 $524,000 2016, $482,000 2015 $563,000 2014. Time deposits of more than $250,000 $7,929,000 December 31, 2016 $6,531,000 December 31, 2015. |
Note 12 - Borrowed Funds
Note 12 - Borrowed Funds | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 12. Short-term borrowings (initial maturity within one (In Thousands) Dec. 31, Dec. 31, 2016 2015 FHLB-Pittsburgh borrowings $ 21,000 $ 48,581 Customer repurchase agreements 5,175 4,915 Total short-term borrowings $ 26,175 $ 53,496 Short-term borrowings from FHLB-Pittsburgh are as follows: (In Thousands) Dec. 31, Dec. 31 2016 2015 Overnight borrowing $ 21,000 $ 23,500 Other short-term advances 0 25,081 Total short-term FHLB-Pittsburgh borrowings $ 21,000 $ 48,581 The weighted average interest rate on total short-term borrowings outstanding was 0.61% December 31, 2016 0.60% December 31, 2015. $47,005,000 2016, $53,496,000 2015 $7,919,000 2014. The Corporation had available credit with other correspondent banks totaling $45,000,000 December 31, 2016 2015. No December 31, 2016 2015. The Corporation has a line of credit with the Federal Reserve Bank of Philadelphia’s Discount Window. At December 31, 2016, $15,636,000 no December 31, 2015, $19,606,000 no $17,690,000 December 31, 2016 $20,039,000 December 31, 2015. The FHLB-Pittsburgh loan facility is collateralized by qualifying loans secured by real estate with a book value totaling $471,454,000 December 31, 2016 $450,883,000 December 31, 2015. $4,296,000 December 31, 2016 $4,527,000 December 31, 2015. $339,221,000 December 31, 2016, $306,767,000. December 31, 2015, $322,709,000, $262,361,000. At December 31, 2016, $21,000,000 0.74%. December 31, 2015, $23,500,000 0.43%, 12 $2,090,000 2016, 0.86% 0.54% 1.052%. The Corporation engages in repurchase agreements with certain commercial customers. These agreements provide that the Corporation sells specified investment securities to the customers on an overnight basis and repurchases them on the following business day. The weighted average rate paid by the Corporation on customer repurchase agreements was 0.10% December 31, 2016 December 31, 2015. $15,019,000 December 31, 2016 $12,613,000 December 31, 2015. LONG-TERM BORROWINGS Long-term borrowings (initial maturity of greater than one year) are as follows: (In Thousands) Dec. 31, Dec. 31, 2016 2015 FHLB-Pittsburgh borrowings $ 11,454 $ 11,767 Repurchase agreements 27,000 27,000 Total long-term borrowings $ 38,454 $ 38,767 Long-term borrowings from FHLB - Pittsburgh are as follows: (In Thousands) Dec. 31, Dec. 31, 2016 2015 Loan maturing in 2016 with a rate of 6.86% $ 0 $ 57 Loan maturing in 2017 with a rate of 6.83% 4 10 Loan maturing in 2017 with a rate of 3.81% 10,000 10,000 Loan maturing in 2020 with a rate of 4.79% 646 821 Loan maturing in 2025 with a rate of 4.91% 804 879 Total long-term FHLB-Pittsburgh borrowings $ 11,454 $ 11,767 The repurchase agreement included in long-term borrowings has an interest rate of 3.595% December 2017. In 2015, $2,573,000 $34,000,000 4.265%. “The Repurchase Date,” as defined in the Master Repurchase Agreement between the Corporation and the broker-dealer, occurs quarterly on or about the 20 th March, June, September December December 20, 2017. Securities sold under repurchase agreements were delivered to the broker-dealer who is the counter-party to the transactions. The broker-dealer may one The carrying value of the underlying securities was $31,494,000 December 31, 2016 $33,780,000 December 31, 2015, (In Thousands) Dec. 31, Dec. 31, 2016 2015 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities $ 18,181 $ 15,772 Residential collateralized mortgage obligations 13,313 18,008 Total $ 31,494 $ 33,780 Two of the more significant risks associated with the repurchase agreement with the broker-dealer are as follows: ● The borrowing is putable at quarterly intervals by the issuer. Accordingly, if interest rates were to rise to a sufficient level, the issuer would be expected to require the Corporation to pay off the borrowing. In this circumstance, the Corporation would be required to obtain new borrowing at a higher interest rate than the existing repurchase agreement or utilize cash from other sources to pay off the borrowing. If sales of available-for-sale securities were used to generate cash to pay off the borrowings, the value of such securities would be expected to have fallen, which could result in the Corporation recognizing a loss. ● As principal pay-downs of mortgage backed securities and CMOs occur, the Corporation must have available, unencumbered assets or purchase a sufficient amount of assets with credit quality suitable to the broker-dealer to replace the amounts being paid off. Since pre-payments of mortgages typically increase as interest rates fall, the Corporation may Average daily repurchase agreement borrowings amounted to $27,000,000 2016, $54,304,000 2015 $61,000,000 2014. $27,000,000 2016 $61,000,000 2015 2014. 3.60% 2016, 3.99% 2015 4.02% 2014. |
Note 13 - Employee and Postreti
Note 13 - Employee and Postretirement Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 13. DEFINED BENEFIT PLANS The Corporation sponsors a defined benefit health care plan that provides postretirement medical benefits and life insurance to employees who meet certain age and length of service requirements. Full-time employees no longer accrue service time toward the Corporation-subsidized portion of the medical benefits. The plan contains a cost-sharing feature which causes participants to pay for all future increases in costs related to benefit coverage. Accordingly, actuarial assumptions related to health care cost trend rates do not significantly affect the liability balance at December 31, 2016 December 31, 2015, December 31 In an acquisition in 2007, December 31, 2002, December 31 The following table shows the funded status of the defined benefit plans: (In Thousands) Pension Postretirement 2016 2015 2016 2015 CHANGE IN BENEFIT OBLIGATION: Benefit obligation at beginning of year $ 722 $ 1,085 $ 1,539 $ 1,378 Service cost 0 0 37 38 Interest cost 26 36 62 57 Plan participants' contributions 0 0 215 203 Actuarial loss (gain) 3 (46 ) (30 ) 120 Benefits paid (38 ) (16 ) (268 ) (257 ) Settlement of plan obligation 0 (337 ) 0 0 Benefit obligation at end of year $ 713 $ 722 $ 1,555 $ 1,539 CHANGE IN PLAN ASSETS: Fair value of plan assets at beginning of year $ 839 $ 1,208 $ 0 $ 0 Actual return on plan assets 45 (16 ) 0 0 Employer contribution 0 0 53 54 Plan participants' contributions 0 0 215 203 Benefits paid (38 ) (16 ) (268 ) (257 ) Settlement of plan obligation 0 (337 ) 0 0 Fair value of plan assets at end of year $ 846 $ 839 $ 0 $ 0 Funded status at end of year $ 133 $ 117 $ (1,555 ) $ (1,539 ) At December 31, 2016 2015, Assets and liabilities: (In Thousands) Pension Postretirement 2016 2015 2016 2015 Other assets $ 133 $ 117 Accrued interest and other liabilities $ 1,555 $ 1,539 At December 31, 2016 2015, Items not yet recognized as a component of net periodic benefit cost: (In Thousands) Pension Postretirement 2016 2015 2016 2015 Prior service cost $ 0 $ 0 $ (340 ) $ (371 ) Net actuarial loss 161 186 101 131 Total $ 161 $ 186 $ (239 ) $ (240 ) For the defined benefit pension plan, amortization of the net actuarial loss is expected to be $7,000 2017. 2017 $31,000, no 2017. The accumulated benefit obligation for the defined benefit pension plan was $713,000 December 31, 2016 $722,000 December 31, 2015. The components of net periodic benefit costs from defined benefit plans are as follows: (In Thousands) Pension Postretirement 2016 2015 2014 2016 2015 2014 Service cost $ 0 $ 0 $ 0 $ 37 $ 38 $ 34 Interest cost 26 36 73 62 57 57 Expected return on plan assets (26 ) (45 ) (88 ) 0 0 0 Amortization of prior service cost 0 0 0 (31 ) (31 ) (31 ) Recognized net actuarial loss 9 11 19 0 0 0 Loss on settlement 0 87 196 0 0 0 Total net periodic benefit cost $ 9 $ 89 $ 200 $ 68 $ 64 $ 60 In 2015, $337,000, 32% $87,000 2015 In 2014, $781,000, 42% $196,000 2014 The weighted-average assumptions used to determine net periodic benefit cost are as follows: Pension Postretirement 2016 2015 2014 2016 2015 2014 Discount rate 4.30 % 3.75 % 4.50 % 4.25 % 4.00 % 4.00 % Expected return on plan assets 5.00 % 5.31 % 5.31 % N/A N/A N/A Rate of compensation increase N/A N/A N/A N/A N/A N/A The weighted-average assumptions used to determine benefit obligations as of December 31, 2016 2015 Pension Postretirement 2016 2015 2016 2015 Discount rate 4.05 % 4.30 % 4.25 % 4.25 % Rate of compensation increase N/A N/A N/A N/A Estimated future benefit payments, including only estimated employer contributions for the postretirement plan, which reflect expected future service, are as follows: (In Thousands) Pension Postretirement 2017 $ 222 $ 99 2018 15 103 2019 39 108 2020 12 114 2021 12 114 2022-2026 220 563 No 2017, may The expected return on pension plan assets is a significant assumption used in the calculation of net periodic benefit cost. This assumption reflects the average long-term rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the projected benefit obligation. The fair values of pension plan assets at December 31, 2016 2015 2016 2015 Mutual funds invested principally in: Cash and cash equivalents 2 % 2 % Debt securities 38 % 38 % Equity securities 44 % 46 % Alternative funds 16 % 14 % Total 100 % 100 % C&N Bank’s Trust and Financial Management Department manages the investment of the pension plan assets. The Plan’s securities include mutual funds invested principally in debt securities, a diversified mix of large, mid- and small-capitalization U.S. stocks, foreign stocks and alternative asset classes such as real estate, commodities, and inflation-protected securities. The fair values of plan assets are determined based on Level 1 6). December 31, 2016, 44% 38% 16% 2% December 31, 2015, 46% 38% 14% 2% PROFIT SHARING AND DEFERRED COMPENSATION PLANS The Corporation has a profit sharing plan that incorporates the deferred salary savings provisions of Section 401(k) $646,000 2016, $609,000 2015 $595,000 2014. The Corporation has an Employee Stock Ownership Plan (ESOP). Contributions to the ESOP are discretionary, and the ESOP uses funds contributed to purchase Corporation stock for the accounts of ESOP participants. These purchases are made on the market (not directly from the Corporation), and employees are not permitted to purchase Corporation stock under the ESOP. The ESOP includes a diversification feature, which allows participants, upon reaching age 55 10 50% 6 December 31, 2016 2015, Dividends paid on shares held by the ESOP are charged to retained earnings. All Corporation shares owned through the ESOP are included in the calculation of weighted-average shares outstanding for purposes of calculating earnings per share - basic and diluted. The ESOP held 417,753 December 31, 2016 410,004 December 31, 2015, $549,000 2016, $522,000 2015 $512,000 2014. The Corporation has a nonqualified supplemental deferred compensation arrangement with its key officers. Charges to operating expense for officers’ supplemental deferred compensation were $184,000 2016, $167,000 2015 $138,000 2014. In December 2015, 2016, STOCK-BASED COMPENSATION PLANS The Corporation has a Stock Incentive Plan for a selected group of senior officers. A total of 850,000 may may December 31, 2016, 6 10 280,682 December 31, 2016. Also, the Corporation has an Independent Directors Stock Incentive Plan. This plan permits awards of nonqualified stock options and/or restricted stock to non-employee directors. A total of 135,000 may 10 21,868 December 31, 2016. Total stock-based compensation expense is as follows: (In Thousands) 2016 2015 2014 Restricted stock $ 578 $ 606 $ 412 Stock options 0 0 153 Total $ 578 $ 606 $ 565 The following summarizes non-vested restricted stock activity for the year ended December 31, 2016: Weighted Average Number Grant Date of Shares Fair Value Outstanding, December 31, 2015 62,212 $ 20.10 Granted 35,427 $ 20.42 Vested (30,846 ) $ 19.90 Forfeited (3,431 ) $ 20.41 Outstanding, December 31, 2016 63,362 $ 20.35 Compensation cost related to restricted stock is recognized based on the market price of the stock at the grant date over the vesting period, adjusted for estimated and actual forfeitures. As of December 31, 2016, $662,000 1.4 In 2016, 27,593 2016 (1) 17,289 three (2) 10,304 three 2016 47 th 12 September 30, 2016. 2016 50 th 2016 $750 $3.5 Restricted stock awards in 2015 (1) 20,298 four (2) 2,198 four (3) 5,174 three 2015, 2014 2013 2016, 2015 2014, 2016, 12 September 30 one $750 $2 2016, 2015 2014 In 2016, 7,834 one 2015, 7,130 one There were no stock options granted in 2016 2015. 2014 2014 Volatility 39 % Expected option lives (years) 8 Risk-free interest rate 2.85 % Dividend yield 4.33 % Management estimated the lives for options based on the Corporation’s average historical experience with both plans. The Corporation utilized its historical volatility and dividend yield over the immediately prior 8 2014 zero A summary of stock option activity is presented below: 2016 2015 2014 Weighted Weighted Weighted Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Outstanding, beginning of year 248,486 $ 18.59 316,157 $ 19.05 358,176 $ 19.03 Granted 0 0 39,027 $ 20.45 Exercised (35,880 ) $ 18.86 (29,557 ) $ 17.56 (50,415 ) $ 17.57 Forfeited (10,569 ) $ 18.03 (20,211 ) $ 19.76 (16,424 ) $ 20.03 Expired 0 (17,903 ) $ 27.00 (14,207 ) $ 26.59 Outstanding, end of year 202,037 $ 18.58 248,486 $ 18.59 316,157 $ 19.05 Options exercisable at year-end 202,037 $ 18.58 248,486 $ 18.59 316,157 $ 19.05 Weighted-average fair value of options granted N/A N/A $ 5.50 Weighted-average fair value of options forfeited $ 4.04 $ 4.86 $ 4.89 The weighted-average remaining contractual term of outstanding stock options at December 31, 2016 4.0 $1,540,000 December 31, 2016. $183,000 2016, $77,000 2015 $90,000 2014. The Corporation has issued shares from treasury stock for almost all stock option exercises through December 31, 2016. 2017. In January 2017, 22,312 8,470 2017 three one 14,897 2017 one 2017 $652,000. January 2017 |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 14. The net deferred tax asset at December 31, 2016 2015 December 31, December 31, (In Thousands) 2016 2015 Deferred tax assets: Unrealized holding losses on securities $ 512 $ 0 Net realized losses on securities 0 69 Allowance for loan losses 2,998 2,761 Other deferred tax assets 2,658 2,634 Total deferred tax assets 6,168 5,464 Deferred tax liabilities: Unrealized holding gains on securities 0 1,342 Defined benefit plans - ASC 835 27 19 Bank premises and equipment 913 869 Core deposit intangibles 6 11 Other deferred tax liabilities 105 108 Total deferred tax liabilities 1,051 2,349 Deferred tax asset, net $ 5,117 $ 3,115 The provision for income taxes includes the following: (In thousands) 2016 2015 2014 Currently payable $ 5,328 $ 5,097 $ 4,280 Tax expense resulting from allocations of certain tax benefits to equity or as a reduction in other assets 175 161 158 Deferred (156 ) 79 1,254 Total provision $ 5,347 $ 5,337 $ 5,692 A reconciliation of income tax at the statutory rate to the Corporation’s effective rate is as follows (amounts in thousands): (Amounts in thousands) 2016 2015 2014 Amount % Amount % Amount % Expected provision $ 7,388 35.00 $ 7,633 35.00 $ 7,972 35.00 Tax-exempt interest income (1,801 ) (8.53 ) (1,914 ) (8.78 ) (1,982 ) (8.70 ) Nondeductible interest expense 40 0.19 51 0.23 56 0.25 Dividends received deduction (22 ) (0.10 ) (75 ) (0.34 ) (79 ) (0.35 ) Increase in cash surrender value of life insurance (134 ) (0.63 ) (135 ) (0.62 ) (132 ) (0.58 ) Employee stock option compensation 0 0.00 0 0.00 41 0.18 Tax benefit from limited partnership investment (76 ) (0.36 ) (80 ) (0.37 ) (83 ) (0.36 ) Other, net (48 ) (0.23 ) (143 ) (0.66 ) (101 ) (0.44 ) Effective income tax provision $ 5,347 25.33 $ 5,337 24.47 $ 5,692 24.99 The Corporation has investments in three two three 2013, 2013 2015 2022. $713,000 December 31, 2016 $812,000 December 31, 2015 2016, $158,000 $76,000. 2015, $160,000, $80,000. 2014, $159,000, $83,000. The Corporation has no 2013. |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 15. Loans to executive officers, directors of the Corporation and its subsidiaries and any associates of the foregoing persons are as follows: (In Thousands) Beginning New Other Ending Balance Loans Repayments Changes Balance 12 directors, 7 executive officers 2016 $ 10,246 $ 307 $ (1,160 ) $ 2,021 $ 11,414 11 directors, 7 executive officers 2015 12,023 52 (808 ) (1,021 ) 10,246 12 directors, 8 executive officers 2014 12,547 188 (1,358 ) 646 12,023 In the table above, other changes represent net changes in the balance of existing lines of credit and transfers in and out of the related party category. Deposits from related parties held by the Corporation amounted to $2,899,000 December 31, 2016 $3,194,000 December 31, 2015. |
Note 16 - Off-balance Sheet Ris
Note 16 - Off-balance Sheet Risk | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 16. The Corporation is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financial needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit, interest rate or liquidity risk in excess of the amount recognized in the consolidated balance sheets. The contract amounts of these instruments express the extent of involvement the Corporation has in particular classes of financial instruments. The Corporation’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of these instruments. The Corporation uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Financial instruments whose contract amounts represent credit risk at December 31, 2016 2015 (In Thousands) 2016 2015 Commitments to extend credit $ 180,768 $ 156,407 Standby letters of credit 9,025 13,340 Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may Standby letters of credit are conditional commitments issued by the Corporation guaranteeing performance by a customer to a third December 31, 2016 2015. Standby letters of credit as of December 31, 2016 Year of Expiration (In Thousands) 2017 $ 7,612 2018 387 2019 193 2020 64 2021 0 Thereafter 769 Total $ 9,025 |
Note 17 - Contingencies
Note 17 - Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 17. In the normal course of business, the Corporation is subject to pending and threatened litigation in which claims for monetary damages are asserted. In management’s opinion, the Corporation’s financial position and results of operations would not be materially affected by the outcome of these legal proceedings. |
Note 18 - Regulatory Matters
Note 18 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 18. The Corporation (on a consolidated basis) and C&N Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory - and possibly additional discretionary - actions by regulators that, if undertaken, could have a direct material effect on the Corporation’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation and C&N Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Corporation and C&N Bank to maintain minimum amounts and ratios (set forth in the following table) of total capital, Tier I capital (as defined in the regulations) and Common equity Tier 1 December 31, 2016 2015, To be categorized as well capitalized, an institution must maintain minimum total risk based, Tier I risk based, Common equity risk based and Tier I leverage ratios as set forth in the following table. The Corporation’s and C&N Bank’s actual capital amounts and ratios are also presented in the following table: (Dollars in Thousands) Actual Minimum Capital Requirement Minimum To Maintain Capital Conservation Buffer at Reporting Date Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Minimum To Meet the Corporation's Policy Thresholds Amount Ratio Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31 , 2016: Total capital to risk-weighted assets: Consolidated $ 183,597 23.60 % $ 62,245 > % $ 67,108 > % $ 77,806 > % $ 81,697 > % C&N Bank 162,705 21.03 % 61,894 > % 66,730 > % 77,368 > % 81,236 > % Tier 1 capital to risk-weighted assets: Consolidated 174,928 22.48 % 31,122 > % 51,547 > % 62,245 > % 66,135 > % C&N Bank 154,036 19.91 % 30,947 > % 51,256 > % 61,894 > % 65,762 > % Common equity tier 1 capital to risk-weighted assets: Consolidated 174,928 22.48 % 31,122 > % 39,876 > % 50,574 > % 54,464 > % C&N Bank 154,036 19.91 % 30,947 > % 39,651 > % 50,289 > % 54,157 > % Tier 1 capital to average assets: Consolidated 174,928 14.27 % 49,026 > % N/A N/A 61,282 > % 61,282 > % C&N Bank 154,036 12.73 % 48,404 > % N/A N/A 60,506 > % 60,506 > % December 31, 2015: Total capital to risk-weighted assets: Consolidated $ 181,216 24.40 % $ 59,424 > % N/A N/A $ 74,281 > % $ 77,995 > % C&N Bank 161,187 21.83 % 59,058 > % N/A N/A 73,823 > % 77,514 > % Tier 1 capital to risk-weighted assets: Consolidated 173,009 23.29 % 29,712 > % N/A N/A 59,424 > % 63,139 > % C&N Bank 153,298 20.77 % 29,529 > % N/A N/A 59,058 > % 62,749 > % Common equity tier 1 capital to risk-weighted assets: Consolidated 173,009 23.29 % 29,712 > % N/A N/A 48,282 > % 51,996 > % C&N Bank 153,298 20.77 % 29,529 > % N/A N/A 47,985 > % 51,676 > % Tier 1 capital to average assets: Consolidated 173,009 14.31 % 48,355 > % N/A N/A 60,444 > % 60,444 > % C&N Bank 153,298 12.81 % 47,861 > % N/A N/A 59,826 > % 59,826 > % In July 2013, January 1, 2015. 1 The current (new) capital rule provides that, in order to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers, a banking organization must hold a capital conservation buffer composed of common equity tier 1 January 1, 2016. As of January 1: 2015 2016 2017 2018 2019 Minimum common equity tier 1 capital ratio 4.5 % 4.5 % 4.5 % 4.5 % 4.5 % Common equity tier 1 capital conservation buffer N/A 0.625 % 1.25 % 1.875 % 2.5 % Minimum common equity tier 1 capital ratio plus capital conservation buffer 4.5 % 5.125 % 5.75 % 6.375 % 7.0 % Phase-in of most deductions from common equity tier 1 capital 40 % 60 % 80 % 100 % 100 % Minimum tier 1 capital ratio 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % Minimum tier 1 capital ratio plus capital conservation buffer N/A 6.625 % 7.25 % 7.875 % 8.5 % Minimum total capital ratio 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % Minimum total capital ratio plus capital conservation buffer N/A 8.625 % 9.25 % 9.875 % 10.5 % As fully phased in, a banking organization with a buffer greater than 2.5% 2.5% zero. 2.5% four Capital Conservation Buffer Maximum Payout (as a % of risk-weighted assets) (as a % of eligible retained income) Greater than 2.5% No payout limitation applies ≤2.5% and >1.875% 60 % ≤1.875% and >1.25% 40 % ≤1.25% and >0.625% 20 % ≤0.625% 0 % At December 31, 2016, 15.60%. 13.03%. Banking regulators limit the amount of dividends that may may $87,631,000 December 31, 2016, Restrictions imposed by federal law prohibit the Corporation from borrowing from C&N Bank unless the loans are secured in specific amounts. Such secured loans to the Corporation are generally limited to 10% $15,404,000 December 31, 2016. |
Note 19 - Parent Company Only
Note 19 - Parent Company Only | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 19. The following is condensed financial information for Citizens & Northern Corporation: CONDENSED BALANCE SHEET December 31, (In Thousands) 2016 2015 ASSETS Cash $ 6,033 $ 5,847 Investment in subsidiaries: Citizens & Northern Bank 165,397 167,277 Citizens & Northern Investment Corporation 11,168 10,966 Bucktail Life Insurance Company 3,419 3,392 Other assets 4 24 TOTAL ASSETS $ 186,021 $ 187,506 LIABILITIES AND STOCKHOLDERS' EQUITY Other liabilities $ 13 $ 19 Stockholders' equity 186,008 187,487 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 186,021 $ 187,506 CONDENSED INCOME STATEMENT (In Thousands) 2016 2015 2014 Dividends from Citizens & Northern Bank $ 14,960 $ 11,569 $ 22,608 Expenses (367 ) (234 ) (112 ) Income before equity in undistributed income of subsidiaries 14,593 11,335 22,496 Equity in undistributed income of subsidiaries 1,169 5,136 (5,410 ) NET INCOME $ 15,762 $ 16,471 $ 17,086 CONDENSED STATEMENT OF CASH FLOWS (In Thousands) 2016 2015 2014 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 15,762 $ 16,471 $ 17,086 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (1,169 ) (5,136 ) 5,410 Decrease (increase) in other assets 20 12 (36 ) (Decrease) increase in other liabilities (6 ) 12 1 Net Cash Provided by Operating Activities 14,607 11,359 22,461 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from sale of treasury stock 263 381 123 Tax benefit from compensation plans, net 151 143 137 Purchase of treasury stock (3,723 ) (4,415 ) (4,002 ) Dividends paid (11,112 ) (11,245 ) (11,392 ) Net Cash Used in Financing Activities (14,421 ) (15,136 ) (15,134 ) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 186 (3,777 ) 7,327 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 5,847 9,624 2,297 CASH AND CASH EQUIVALENTS, END OF YEAR $ 6,033 $ 5,847 $ 9,624 |
Note 20 - Summary of Quarterly
Note 20 - Summary of Quarterly Consolidated Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 20. The following table presents summarized quarterly financial data for 2016 2015: (In Thousands Except Per Share Data) (Unaudited) 2016 Quarter Ended Mar. 31, June 30, Sept. 30, Dec. 31, Interest income $ 10,937 $ 10,924 $ 11,131 $ 11,106 Interest expense 904 925 944 920 Net interest income 10,033 9,999 10,187 10,186 Provision (credit) for loan losses 368 318 538 (3 ) Net interest income after provision (credit) for loan losses 9,665 9,681 9,649 10,189 Other income 3,690 3,906 3,884 4,031 Net gains on available-for-sale securities 383 122 584 69 Other expenses 9,072 8,535 8,579 8,558 Income before income tax provision 4,666 5,174 5,538 5,731 Income tax provision 1,093 1,303 1,451 1,500 Net income $ 3,573 $ 3,871 $ 4,087 $ 4,231 Net income per share – basic $ 0.29 $ 0.32 $ 0.34 $ 0.35 Net income per share – diluted $ 0.29 $ 0.32 $ 0.34 $ 0.35 2015 Quarter Ended Mar. 31, June 30, Sept. 30, Dec. 31, Interest income $ 11,163 $ 11,186 $ 11,134 $ 11,036 Interest expense 1,213 1,176 1,126 1,087 Net interest income 9,950 10,010 10,008 9,949 Provision for loan losses 3 221 302 319 Net interest income after provision for loan losses 9,947 9,789 9,706 9,630 Other income 3,556 3,962 3,961 3,999 Net gains on available-for-sale securities 74 932 79 1,776 Loss on prepayment of borrowings 0 910 0 1,663 Other expenses 8,533 7,964 8,117 8,416 Income before income tax provision 5,044 5,809 5,629 5,326 Income tax provision 1,229 1,452 1,395 1,261 Net income $ 3,815 $ 4,357 $ 4,234 $ 4,065 Net income per share – basic $ 0.31 $ 0.36 $ 0.35 $ 0.33 Net income per share – diluted $ 0.31 $ 0.36 $ 0.35 $ 0.33 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | BASIS OF CONSOLIDATION - |
Nature of Operations, Policy [Policy Text Block] | NATURE OF OPERATIONS - The Corporation provides Trust and Financial Management services, including administration of trusts and estates, retirement plans, and other employee benefit plans, and investment management services. The Corporation offers a variety of personal and commercial insurance products through C&N Financial Services Corporation. C&N Financial Services Corporation also offers mutual funds, annuities, educational savings accounts and other investment products through registered agents. Management has determined that the Corporation has one The Corporation is subject to competition from other financial institutions. It is also subject to regulation by certain federal and state agencies and undergoes periodic examination by those regulatory authorities. As a consequence, the Corporation’s business is particularly susceptible to being affected by future federal and state legislation and regulations. |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES - Material estimates that are particularly susceptible to change include: (1) (2) (3) (4) (5) |
Marketable Securities, Policy [Policy Text Block] | INVESTMENT SECURITIES - Available-for-sale securities - may may Other-than-temporary impairment (1) (2) (3) (4) Restricted equity securities |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | LOANS HELD FOR SALE |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | LOANS RECEIVABLE - The loans receivable portfolio is segmented into residential mortgage, commercial and consumer loans. The residential mortgage segment includes the following classes: first Loans are placed on nonaccrual status for all classes of loans when, in the opinion of management, collection of interest is doubtful. Any unpaid interest previously accrued on those loans is reversed from income. Interest income is not recognized on specific impaired loans unless the likelihood of further loss is remote. Interest payments received on loans for which the risk of further loss is greater than remote are applied as a reduction of the loan principal balance. Interest income on other nonaccrual loans is recognized only to the extent of interest payments received. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ALLOWANCE FOR LOAN LOSSES 120 The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Corporation’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may may may December 31, 2016 2015, no The allowance consists primarily of two (1) (2) The specific component relates to loans that are classified as impaired based on a detailed assessment of certain larger loan relationships evaluated by a management committee referred to as the Watch List Committee. Specific loan relationships are identified for evaluation based on the related credit risk rating. For individual loans classified as impaired, an allowance is established when the collateral value less estimated selling costs, present value of discounted cash flows or observable market price of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class including commercial loans not considered individually impaired, as well as smaller balance homogeneous classes of loans, such as residential real estate, home equity lines of credit and other consumer loans. Accordingly, the Corporation generally does not separately identify individual consumer and residential loans for impairment disclosures, unless such loans are subject to a restructuring agreement. The pools of loans for each loan segment are evaluated for loss exposure based upon average historical net charge-off rates (currently thirty six three The qualitative factors used in the general component calculations are designed to address credit risk characteristics associated with each segment. The Corporation’s credit risk associated with all of the segments is significantly impacted by these factors, which include economic conditions within its market area, the Corporation’s lending policies, changes or trends in the portfolio, risk profile, competition, regulatory requirements and other factors. Further, the residential mortgage segment is significantly affected by the values of residential real estate that provide collateral for the loans. The majority of the Corporation’s commercial segment loans (approximately 57% December 31, 2016) Loans are classified as impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial loans by the fair value of the collateral (if the loan is collateral dependent), by future cash flows discounted at the loan’s effective rate or by the loan’s observable market price. For commercial loans secured by real estate, estimated fair values are determined primarily through third For commercial and industrial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging data or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Concessions granted under a troubled debt restructuring generally involve reductions in required payments, an extension of a loan’s stated maturity date or a temporary reduction in interest rate. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings may six |
Property, Plant and Equipment, Policy [Policy Text Block] | BANK PREMISES AND EQUIPMENT |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | IMPAIRMENT OF LONG-LIVED ASSETS may may may |
Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block] | FORECLOSED ASSETS HELD FOR SALE |
Goodwill and Intangible Assets, Policy [Policy Text Block] | GOODWILL AND CORE DEPOSIT INTANGIBLE ASSETS - Goodwill represents the excess of the cost of acquisitions over the fair value of the net assets acquired. Goodwill is tested at least annually for impairment, or more often if events or circumstances indicate there may may . |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | SERVICING RIGHTS |
Income Tax, Policy [Policy Text Block] | INCOME TAXES Tax benefits from investments in limited partnerships that have qualified for federal low-income tax credits are recognized as a reduction in the provision for income tax over the term of the investment using the effective yield method. The Corporation includes income tax penalties in the provision for income tax. The Corporation has no |
Compensation Related Costs, Policy [Policy Text Block] | STOCK COMPENSATION PLANS The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option valuation model. The fair value of restricted stock is based on the current market price on the date of grant. |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | OFF-BALANCE SHEET FINANCIAL INSTRUMENTS - |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH FLOWS three |
Trust Assets and Income, Policy [Policy Text Block] | TRUST ASSETS AND INCOME |
Note 3 - Comprehensive Income (
Note 3 - Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Comprehensive Income (Loss) [Table Text Block] | (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2016 Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $ (4,138 ) $ 1,448 $ (2,690 ) Reclassification adjustment for (gains) realized in income (1,158 ) 406 (752 ) Other comprehensive loss on available-for-sale securities (5,296 ) 1,854 (3,442 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 46 (16 ) 30 Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost (22 ) 8 (14 ) Other comprehensive income on unfunded retirement obligations 24 (8 ) 16 Total other comprehensive loss $ (5,272 ) $ 1,846 $ (3,426 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2015 Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $ (1,429 ) $ 500 $ (929 ) Reclassification adjustment for (gains) realized in income (2,861 ) 1,002 (1,859 ) Other comprehensive loss on available-for-sale securities (4,290 ) 1,502 (2,788 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive loss (135 ) 47 (88 ) Amortization of net transition obligation, prior service cost, net actuarial loss and loss on settlement included in net periodic benefit cost 67 (23 ) 44 Other comprehensive loss on unfunded retirement obligations (68 ) 24 (44 ) Total other comprehensive loss $ (4,358 ) $ 1,526 $ (2,832 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2014 Unrealized gains on available-for-sale securities: Unrealized holding gains on available-for-sale securities $ 10,774 $ (3,771 ) $ 7,003 Reclassification adjustment for (gains) realized in income (1,104 ) 386 (718 ) Other comprehensive income on available-for-sale securities 9,670 (3,385 ) 6,285 Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income (79 ) 28 (51 ) Amortization of net transition obligation, prior service cost, net actuarial loss and loss on settlement included in net periodic benefit cost 184 (65 ) 119 Other comprehensive income on unfunded retirement obligations 105 (37 ) 68 Total other comprehensive income $ 9,775 $ (3,422 ) $ 6,353 |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Unfunded Accumulated Holding Gains Pension and Other (Losses) Postretirement Comprehensive on Securities Obligations Income (Loss) 2016 Balance, beginning of period $ 2,493 $ 35 $ 2,528 Other comprehensive loss before reclassifications (2,690 ) 30 (2,660 ) Amounts reclassified from accumulated other comprehensive (loss) income (752 ) (14 ) (766 ) Other comprehensive (loss) income (3,442 ) 16 (3,426 ) Balance, end of period $ (949 ) $ 51 $ (898 ) 2015 Balance, beginning of period $ 5,281 $ 79 $ 5,360 Other comprehensive loss before reclassifications (929 ) (88 ) (1,017 ) Amounts reclassified from accumulated other comprehensive income (1,859 ) 44 (1,815 ) Other comprehensive loss (2,788 ) (44 ) (2,832 ) Balance, end of period $ 2,493 $ 35 $ 2,528 2014 Balance, beginning of period $ (1,004 ) $ 11 $ (993 ) Other comprehensive income before reclassifications 7,003 (51 ) 6,952 Amounts reclassified from accumulated other comprehensive income (718 ) 119 (599 ) Other comprehensive income 6,285 68 6,353 Balance, end of period $ 5,281 $ 79 $ 5,360 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about Accumulated Other Comprehensive Income Components Reclassified from Affected Line Item in the Consolidated Statements of Income Unrealized gains and losses on available-for-sale securities $ (1,158 ) Realized gains on available-for-sale securities, net 406 Income tax provision (752 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 9 Pensions and other employee benefits (22 ) Total before tax 8 Income tax provision (14 ) Net of tax Total reclassifications for the period $ (766 ) Details about Accumulated Other Comprehensive Income Components Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Unrealized gains and losses on available-for-sale securities $ (2,861 ) Realized gains on available-for-sale securities, net 1,002 Income tax provision (1,859 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 11 Pensions and other employee benefits Loss on settlement 87 Pensions and other employee benefits 67 Total before tax (23 ) Income tax provision 44 Net of tax Total reclassifications for the period $ (1,815 ) Details about Accumulated Other Comprehensive Income Components Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Unrealized gains and losses on available-for-sale securities $ (1,104 ) Realized gains on available-for-sale securities, net 386 Income tax provision (718 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 19 Pensions and other employee benefits Loss on settlement 196 Pensions and other employee benefits 184 Total before tax (65 ) Income tax provision 119 Net of tax Total reclassifications for the period $ (599 ) |
Note 4 - Per Share Data (Tables
Note 4 - Per Share Data (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Weighted- Average Earnings Net Common Per Income Shares Share 2016 Earnings per share – basic $ 15,762,000 12,098,129 $ 1.30 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 215,581 Hypothetical share repurchase at $21.23 (185,346 ) Earnings per share – diluted $ 15,762,000 12,128,364 $ 1.30 Weighted- Average Earnings Net Common Per Income Shares Share 2015 Earnings per share – basic $ 16,471,000 12,211,941 $ 1.35 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 210,402 Hypothetical share repurchase at $20.04 (188,570 ) Earnings per share – diluted $ 16,471,000 12,233,773 $ 1.35 2014 Earnings per share – basic $ 17,086,000 12,390,067 $ 1.38 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 224,015 Hypothetical share repurchase at $19.41 (202,032 ) Earnings per share – diluted $ 17,086,000 12,412,050 $ 1.38 |
Note 5 - Cash and Due From Ba32
Note 5 - Cash and Due From Banks (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Cash and Cash Equivalents [Table Text Block] | (In thousands) Dec. 31, Dec. 31, 2016 2015 Cash and cash equivalents $ 28,621 $ 33,313 Certificates of deposit 3,488 2,748 Total cash and due from banks $ 32,109 $ 36,061 |
Note 6 - Fair Value Measureme33
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2016 Quoted Prices Other in Active Observable Unobservable Total Markets Inputs Inputs Fair (In Thousands) (Level 1) (Level 2) (Level 3) Value Recurring fair value measurements AVAILABLE-FOR-SALE SECURITIES: Obligations of U.S. Government agencies $ 0 $ 9,541 $ 0 $ 9,541 Obligations of states and political subdivisions: Tax-exempt 0 119,037 0 119,037 Taxable 0 30,297 0 30,297 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 0 58,404 0 58,404 Residential collateralized mortgage obligations 0 146,608 0 146,608 Commercial mortgage-backed securities 0 30,219 0 30,219 Total debt securities 0 394,106 0 394,106 Marketable equity securities 971 0 0 971 Total available-for-sale securities 971 394,106 0 395,077 Servicing rights 0 0 1,262 1,262 Total recurring fair value measurements $ 971 $ 394,106 $ 1,262 $ 396,339 Nonrecurring fair value measurements Impaired loans with a valuation allowance $ 0 $ 0 $ 3,372 $ 3,372 Valuation allowance 0 0 (674 ) (674 ) Impaired loans, net 0 0 2,698 2,698 Foreclosed assets held for sale 0 0 2,180 2,180 Total nonrecurring fair value measurements $ 0 $ 0 $ 4,878 $ 4,878 December 31, 2015 Quoted Prices Other in Active Observable Unobservable Total Markets Inputs Inputs Fair (In Thousands) (Level 1) (Level 2) (Level 3) Value Recurring fair value measurements AVAILABLE-FOR-SALE SECURITIES: Obligations of U.S. Government agencies $ 0 $ 10,483 $ 0 $ 10,483 Obligations of states and political subdivisions: Tax-exempt 0 107,757 0 107,757 Taxable 0 34,597 0 34,597 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 0 73,343 0 73,343 Residential collateralized mortgage obligations 0 191,715 0 191,715 Collateralized debt obligations 0 9 0 9 Total debt securities 0 417,904 0 417,904 Marketable equity securities 2,386 0 0 2,386 Total available-for-sale securities 2,386 417,904 0 420,290 Servicing rights 0 0 1,296 1,296 Total recurring fair value measurements $ 2,386 $ 417,904 $ 1,296 $ 421,586 Nonrecurring fair value measurements Impaired loans with a valuation allowance $ 0 $ 0 $ 1,933 $ 1,933 Valuation allowance 0 0 (820 ) (820 ) Impaired loans, net 0 0 1,113 1,113 Foreclosed assets held for sale 0 0 1,260 1,260 Total nonrecurring fair value measurements $ 0 $ 0 $ 2,373 $ 2,373 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (In Thousands) Years Ended December 31, 2016 2015 2014 Balance, beginning of period $ 1,296 $ 1,281 $ 1,123 Issuances of servicing rights 248 177 185 Unrealized losses included in earnings (282 ) (162 ) (27 ) Balance, end of period $ 1,262 $ 1,296 $ 1,281 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | (In Thousands) Valuation December 31, 2016 December 31, 2015 Method(s) Carrying Fair Carrying Fair Used Amount Value Amount Value Financial assets: Cash and cash equivalents Level 1 $ 28,621 $ 28,621 $ 33,313 $ 33,313 Certificates of deposit Level 2 3,488 3,481 2,748 2,752 Available-for-sale securities See Above 395,077 395,077 420,290 420,290 Restricted equity securities (included in Other Assets) Level 2 4,426 4,426 4,657 4,657 Loans held for sale Level 2 142 142 280 280 Loans, net Level 3 743,362 725,787 696,991 685,552 Accrued interest receivable Level 2 3,963 3,963 3,768 3,768 Servicing rights Level 3 1,262 1,262 1,296 1,296 Financial liabilities: Deposits with no stated maturity Level 2 771,625 771,625 713,931 713,931 Time deposits Level 2 212,218 212,274 221,684 221,891 Short-term borrowings Level 2 26,175 26,024 53,496 53,398 Long-term borrowings Level 2 38,454 39,062 38,767 40,166 Accrued interest payable Level 2 65 65 70 70 |
Fair Value, Measurements, Nonrecurring [Member] | |
Notes Tables | |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | (In Thousands, Except Value at Percentages) Valuation 12/31/16 Balance at Allowance at Fair Value at Valuation Unobservable (Weighted Asset 12/31/16 12/31/16 12/31/16 Technique Inputs Average) Impaired loans: Commercial: Commercial loans secured by real estate $ 2,773 $ 528 $ 2,245 Sales comparison Discount to appraised value 7 % Commercial and industrial 95 95 0 Sales comparison Discount to appraised value 100 % Loans secured by farmland 504 51 453 Sales comparison Discount to appraised value 55 % Total impaired loans $ 3,372 $ 674 $ 2,698 Foreclosed assets held for sale - real estate: Residential (1-4 family) $ 1,102 $ 0 $ 1,102 Sales comparison Discount to appraised value 35 % Land 650 0 650 Sales comparison Discount to appraised value 33 % Commercial real estate 428 0 428 Sales comparison Discount to appraised value 50 % Total foreclosed assets held for sale $ 2,180 $ 0 $ 2,180 (In Thousands, Except Value at Percentages) Valuation 12/31/15 Balance at Allowance at Fair Value at Valuation Unobservable (Weighted Asset 12/31/15 12/31/15 12/31/15 Technique Inputs Average) Impaired loans: Residential mortgage loans - first liens $ 42 $ 1 $ 41 Sales comparison Discount to appraised value 31 % Commercial: Commercial loans secured by real estate 317 97 220 Sales comparison Discount to appraised value 46 % Commercial and industrial 75 75 0 Sales comparison Discount to appraised value 31 % Loans secured by farmland 512 52 460 Sales comparison Discount to appraised value 49 % Multi-family (5 or more) residential 987 595 392 Sales comparison Discount to appraised value 41 % Total impaired loans $ 1,933 $ 820 $ 1,113 Foreclosed assets held for sale - real estate: Residential (1-4 family) $ 556 $ 0 $ 556 Sales comparison Discount to appraised value 32 % Land 704 0 704 Sales comparison Discount to appraised value 29 % Total foreclosed assets held for sale $ 1,260 $ 0 $ 1,260 |
Fair Value, Measurements, Recurring [Member] | |
Notes Tables | |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Fair Value at 12/31/16 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 12/31/16 Servicing rights $ 1,262 Discounted cash flow Discount rate 13.00 % Rate used through modeling period Loan prepayment speeds 138.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $ 1.94 Miscellaneous fees per account per month Servicing costs $ 6.00 Monthly servicing cost per account $ 24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs Fair Value at 12/31/15 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 12/31/15 Servicing rights $ 1,296 Discounted cash flow Discount rate 10.00 % Rate used through modeling period Loan prepayment speeds 146.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $ 1.94 Miscellaneous fees per account per month Servicing costs $ 6.00 Monthly servicing cost per account $ 24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs |
Note 7 - Securities (Tables)
Note 7 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | December 31, 2016 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (In Thousands) Cost Gains Losses Value Obligations of U.S. Government agencies $ 9,671 $ 5 $ (135 ) $ 9,541 Obligations of states and political subdivisions: Tax-exempt 118,140 2,592 (1,695 ) 119,037 Taxable 30,073 303 (79 ) 30,297 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 58,922 306 (824 ) 58,404 Residential collateralized mortgage obligations 147,915 408 (1,715 ) 146,608 Commercial mortgage-backed securities 30,817 0 (598 ) 30,219 Total debt securities 395,538 3,614 (5,046 ) 394,106 Marketable equity securities 1,000 0 (29 ) 971 Total $ 396,538 $ 3,614 $ (5,075 ) $ 395,077 December 31, 2015 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (In Thousands) Cost Gains Losses Value Obligations of U.S. Government agencies $ 10,663 $ 12 $ (192 ) $ 10,483 Obligations of states and political subdivisions: Tax-exempt 103,414 4,365 (22 ) 107,757 Taxable 34,317 381 (101 ) 34,597 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 73,227 486 (370 ) 73,343 Residential collateralized mortgage obligations 193,145 623 (2,053 ) 191,715 Collateralized debt obligations: 9 0 0 9 Total debt securities 414,775 5,867 (2,738 ) 417,904 Marketable equity securities 1,680 706 0 2,386 Total $ 416,455 $ 6,573 $ (2,738 ) $ 420,290 |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31, 2016 Less Than 12 Months 12 Months or More Total (In Thousands) Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of U.S. Government agencies $ 7,899 $ (135 ) $ 0 $ 0 $ 7,899 $ (135 ) Obligations of states and political subdivisions: Tax-exempt 54,479 (1,676 ) 1,278 (19 ) 55,757 (1,695 ) Taxable 9,594 (79 ) 0 0 9,594 (79 ) Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 48,674 (824 ) 0 0 48,674 (824 ) Residential collateralized mortgage obligations 85,198 (1,124 ) 16,073 (591 ) 101,271 (1,715 ) Commercial mortgage-backed securities 30,219 (598 ) 0 0 30,219 (598 ) Total debt securities 236,063 (4,436 ) 17,351 (610 ) 253,414 (5,046 ) Marketable equity securities 1,000 (29 ) 0 0 1,000 (29 ) Total temporarily impaired available-for-sale securities $ 237,063 $ (4,465 ) $ 17,351 $ (610 ) $ 254,414 $ (5,075 ) December 31, 2015 Less Than 12 Months 12 Months or More Total (In Thousands) Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of U.S. Government agencies $ 0 $ 0 $ 7,850 $ (192 ) $ 7,850 $ (192 ) Obligations of states and political subdivisions: Tax-exempt 5,200 (19 ) 216 (3 ) 5,416 (22 ) Taxable 10,605 (60 ) 2,910 (41 ) 13,515 (101 ) Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 38,764 (295 ) 3,503 (75 ) 42,267 (370 ) Residential collateralized mortgage obligations 88,355 (648 ) 49,273 (1,405 ) 137,628 (2,053 ) Total temporarily impaired available-for-sale securities $ 142,924 $ (1,022 ) $ 63,752 $ (1,716 ) $ 206,676 $ (2,738 ) |
Realized Gain (Loss) on Investments [Table Text Block] | (In Thousands) 2016 2015 2014 Gross realized gains from sales $ 1,392 $ 2,972 $ 1,328 Gross realized losses from sales (234 ) (111 ) (224 ) Net realized gains $ 1,158 $ 2,861 $ 1,104 Income tax provision related to net realized gains $ 406 $ 1,002 $ 386 |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, 2016 Amortized Fair (In Thousands) Cost Value Due in one year or less $ 18,678 $ 18,832 Due from one year through five years 69,558 70,657 Due from five years through ten years 44,527 43,979 Due after ten years 25,121 25,407 Sub-total 157,884 158,875 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 58,922 58,404 Residential collateralized mortgage obligations 147,915 146,608 Commercial mortgage-backed securities 30,817 30,219 Total $ 395,538 $ 394,106 |
Note 8 - Loans (Tables)
Note 8 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Summary of Loans by Type (In Thousands) Dec. 31, Dec. 31, 2016 2015 Residential mortgage: Residential mortgage loans - first liens $ 334,102 $ 304,783 Residential mortgage loans - junior liens 23,706 21,146 Home equity lines of credit 38,057 39,040 1-4 Family residential construction 24,908 21,121 Total residential mortgage 420,773 386,090 Commercial: Commercial loans secured by real estate 150,468 154,779 Commercial and industrial 83,854 75,196 Political subdivisions 38,068 40,007 Commercial construction and land 14,287 5,122 Loans secured by farmland 7,294 7,019 Multi-family (5 or more) residential 7,896 9,188 Agricultural loans 3,998 4,671 Other commercial loans 11,475 12,152 Total commercial 317,340 308,134 Consumer 13,722 10,656 Total 751,835 704,880 Less: allowance for loan losses (8,473 ) (7,889 ) Loans, net $ 743,362 $ 696,991 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Year Ended December 31, 2016 Dec. 31 Dec. 31 (In Thousands) 2015 Balance Charge-offs Recoveries Provision (Credit) 2016 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 2,645 $ (73 ) $ 3 $ 458 $ 3,033 Residential mortgage loans - junior liens 219 0 0 39 258 Home equity lines of credit 347 0 0 3 350 1-4 Family residential construction 207 0 0 42 249 Total residential mortgage 3,418 (73 ) 3 542 3,890 Commercial: Commercial loans secured by real estate 1,939 0 2 439 2,380 Commercial and industrial 981 (2 ) 3 17 999 Political subdivisions 0 0 0 0 0 Commercial construction and land 58 0 30 74 162 Loans secured by farmland 106 0 0 4 110 Multi-family (5 or more) residential 675 (595 ) 0 161 241 Agricultural loans 45 0 0 (5 ) 40 Other commercial loans 118 0 0 (3 ) 115 Total commercial 3,922 (597 ) 35 687 4,047 Consumer 122 (87 ) 82 21 138 Unallocated 427 0 0 (29 ) 398 Total Allowance for Loan Losses $ 7,889 $ (757 ) $ 120 $ 1,221 $ 8,473 Year Ended December 31, 2015 Dec. 31, Dec. 31, (In Thousands) 2014 Balance Charge- offs Recoveries Provision (Credit) 2015 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 2,941 $ (175 ) $ 1 $ (122 ) $ 2,645 Residential mortgage loans - junior liens 176 (42 ) 0 85 219 Home equity lines of credit 322 0 0 25 347 1-4 Family residential construction 214 0 0 (7 ) 207 Total residential mortgage 3,653 (217 ) 1 (19 ) 3,418 Commercial: Commercial loans secured by real estate 1,758 (115 ) 208 88 1,939 Commercial and industrial 688 (21 ) 6 308 981 Political subdivisions 0 0 0 0 0 Commercial construction and land 283 (115 ) 0 (110 ) 58 Loans secured by farmland 165 0 0 (59 ) 106 Multi-family (5 or more) residential 87 0 0 588 675 Agricultural loans 31 0 0 14 45 Other commercial loans 131 0 0 (13 ) 118 Total commercial 3,143 (251 ) 214 816 3,922 Consumer 145 (94 ) 55 16 122 Unallocated 395 0 0 32 427 Total Allowance for Loan Losses $ 7,336 $ (562 ) $ 270 $ 845 $ 7,889 Year Ended December 31, 2014 Dec. 31, Dec. 31, (In Thousands) 2013 Balance Charge- offs Recoveries Provision (Credit) 2014 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 2,974 $ (164 ) $ 25 $ 106 $ 2,941 Residential mortgage loans - junior liens 294 (101 ) 0 (17 ) 176 Home equity lines of credit 269 (62 ) 0 115 322 1-4 Family residential construction 168 0 0 46 214 Total residential mortgage 3,705 (327 ) 25 250 3,653 Commercial: Commercial loans secured by real estate 3,123 (1,521 ) 250 (94 ) 1,758 Commercial and industrial 591 (24 ) 9 112 688 Political subdivisions 0 0 0 0 0 Commercial construction and land 267 (170 ) 5 181 283 Loans secured by farmland 115 0 0 50 165 Multi-family (5 or more) residential 103 0 0 (16 ) 87 Agricultural loans 30 0 0 1 31 Other commercial loans 138 0 0 (7 ) 131 Total commercial 4,367 (1,715 ) 264 227 3,143 Consumer 193 (97 ) 47 2 145 Unallocated 398 0 0 (3 ) 395 Total Allowance for Loan Losses $ 8,663 $ (2,139 ) $ 336 $ 476 $ 7,336 |
Financing Receivable Credit Quality Indicators [Table Text Block] | December 31, 2016 (In Thousands) Special Pass Mention Substandard Doubtful Total Residential Mortgage: Residential mortgage loans - first liens $ 324,377 $ 408 $ 9,258 $ 59 $ 334,102 Residential mortgage loans - junior liens 23,274 132 300 0 23,706 Home equity lines of credit 37,360 123 574 0 38,057 1-4 Family residential construction 24,820 0 88 0 24,908 Total residential mortgage 409,831 663 10,220 59 420,773 Commercial: Commercial loans secured by real estate 139,358 3,092 8,018 0 150,468 Commercial and Industrial 79,202 4,180 461 11 83,854 Political subdivisions 38,068 0 0 0 38,068 Commercial construction and land 14,136 70 81 0 14,287 Loans secured by farmland 5,745 129 1,404 16 7,294 Multi-family (5 or more) residential 7,277 0 619 0 7,896 Agricultural loans 3,208 0 790 0 3,998 Other commercial loans 11,401 0 74 0 11,475 Total commercial 298,395 7,471 11,447 27 317,340 Consumer 13,546 0 176 0 13,722 Totals $ 721,772 $ 8,134 $ 21,843 $ 86 $ 751,835 December 31, 2015 (In Thousands) Special Pass Mention Substandard Doubtful Total Residential Mortgage: Residential mortgage loans - first liens $ 295,302 $ 407 $ 9,007 $ 67 $ 304,783 Residential mortgage loans - junior liens 20,558 185 403 0 21,146 Home equity lines of credit 38,071 543 426 0 39,040 1-4 Family residential construction 21,104 17 0 0 21,121 Total residential mortgage 375,035 1,152 9,836 67 386,090 Commercial: Commercial loans secured by real estate 140,381 5,862 8,536 0 154,779 Commercial and Industrial 71,225 2,106 1,737 128 75,196 Political subdivisions 40,007 0 0 0 40,007 Commercial construction and land 4,957 60 105 0 5,122 Loans secured by farmland 5,084 483 1,432 20 7,019 Multi-family (5 or more) residential 7,943 0 1,245 0 9,188 Agricultural loans 4,655 0 16 0 4,671 Other commercial loans 12,073 0 79 0 12,152 Total commercial 286,325 8,511 13,150 148 308,134 Consumer 10,490 21 145 0 10,656 Totals $ 671,850 $ 9,684 $ 23,131 $ 215 $ 704,880 |
Impaired Financing Receivable by Portfolio Segment [Table Text Block] | December 31, 2016 Loans: Allowance for Loan Losses: (In Thousands) Individually Collectively Individually Collectively Evaluated Evaluated Totals Evaluated Evaluated Totals Residential mortgage: Residential mortgage loans - first liens $ 753 $ 333,349 $ 334,102 $ 0 $ 3,033 $ 3,033 Residential mortgage loans - junior liens 68 23,638 23,706 0 258 258 Home equity lines of credit 0 38,057 38,057 0 350 350 1-4 Family residential construction 0 24,908 24,908 0 249 249 Total residential mortgage 821 419,952 420,773 0 3,890 3,890 Commercial: Commercial loans secured by real estate 8,005 142,463 150,468 528 1,852 2,380 Commercial and industrial 212 83,642 83,854 95 904 999 Political subdivisions 0 38,068 38,068 0 0 0 Commercial construction and land 0 14,287 14,287 0 162 162 Loans secured by farmland 1,394 5,900 7,294 51 59 110 Multi-family (5 or more) residential 392 7,504 7,896 0 241 241 Agricultural loans 13 3,985 3,998 0 40 40 Other commercial loans 0 11,475 11,475 0 115 115 Total commercial 10,016 307,324 317,340 674 3,373 4,047 Consumer 23 13,699 13,722 0 138 138 Unallocated 398 Total $ 10,860 $ 740,975 $ 751,835 $ 674 $ 7,401 $ 8,473 December 31, 2015 Loans: Allowance for Loan Losses: (In Thousands) Individually Collectively Individually Collectively Evaluated Evaluated Totals Evaluated Evaluated Totals Residential mortgage: Residential mortgage loans - first liens $ 884 $ 303,899 $ 304,783 $ 1 $ 2,644 $ 2,645 Residential mortgage loans - junior liens 74 21,072 21,146 0 219 219 Home equity lines of credit 0 39,040 39,040 0 347 347 1-4 Family residential construction 0 21,121 21,121 0 207 207 Total residential mortgage 958 385,132 386,090 1 3,417 3,418 Commercial: Commercial loans secured by real estate 6,262 148,517 154,779 97 1,842 1,939 Commercial and industrial 324 74,872 75,196 75 906 981 Political subdivisions 0 40,007 40,007 0 0 0 Commercial construction and land 0 5,122 5,122 0 58 58 Loans secured by farmland 1,427 5,592 7,019 52 54 106 Multi-family (5 or more) residential 987 8,201 9,188 595 80 675 Agricultural loans 16 4,655 4,671 0 45 45 Other commercial loans 0 12,152 12,152 0 118 118 Total commercial 9,016 299,118 308,134 819 3,103 3,922 Consumer 0 10,656 10,656 0 122 122 Unallocated 427 Total $ 9,974 $ 694,906 $ 704,880 $ 820 $ 6,642 $ 7,889 |
Impaired Financing Receivables [Table Text Block] | (In Thousands) December 31, 2016 December 31, 2015 Unpaid Unpaid Principal Recorded Related Principal Recorded Related Balance Investment Allowance Balance Investment Allowance With no related allowance recorded: Residential mortgage loans - first liens $ 783 $ 753 $ 0 $ 842 $ 842 $ 0 Residential mortgage loans - junior liens 68 68 0 74 74 0 Commercial loans secured by real estate 6,975 5,232 0 7,580 5,945 0 Commercial and industrial 117 117 0 249 249 0 Loans secured by farmland 890 890 0 915 915 0 Multi-family (5 or more) residential 987 392 0 0 0 0 Agricultural loans 13 13 0 16 16 0 Consumer 23 23 0 0 0 0 Total with no related allowance recorded 9,856 7,488 0 9,676 8,041 0 With a related allowance recorded: Residential mortgage loans - first liens 0 0 0 42 42 1 Commercial loans secured by real estate 2,773 2,773 528 317 317 97 Commercial and industrial 95 95 95 75 75 75 Loans secured by farmland 504 504 51 512 512 52 Multi-family (5 or more) residential 0 0 0 987 987 595 Total with a related allowance recorded 3,372 3,372 674 1,933 1,933 820 Total $ 13,228 $ 10,860 $ 674 $ 11,609 $ 9,974 $ 820 |
Schedule Of Additional Information On Impaired Loans [Table Text Block] | Interest Income Recognized on Average Investment in Impaired Loans Impaired Loans on a Cash Basis (In Thousands) Year Ended December 31, Year Ended December 31, 2016 2015 2014 2016 2015 2014 Residential mortgage: Residential mortgage loans - first lien $ 806 $ 2,206 $ 4,272 $ 43 $ 86 $ 81 Residential mortgage loans - junior lien 71 64 168 3 4 3 Total residential mortgage 877 2,270 4,440 46 90 84 Commercial: Commercial loans secured by real estate 6,806 6,357 7,192 495 380 469 Commercial and industrial 547 438 877 20 20 37 Commercial construction and land 0 40 395 0 0 9 Loans secured by farmland 1,409 1,459 1,413 94 103 101 Multi-family (5 or more) residential 511 790 0 0 0 0 Agricultural loans 14 21 41 1 3 3 Total commercial 9,287 9,105 9,918 610 506 619 Consumer 21 0 1 1 0 0 Total $ 10,185 $ 11,375 $ 14,359 $ 657 $ 596 $ 703 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In Thousands) December 31, 2016 December 31, 2015 Past Due Past Due 90+ Days and 90+ Days and Accruing Nonaccrual Accruing Nonaccrual Residential mortgage: Residential mortgage loans - first liens $ 3,022 $ 3,770 $ 2,381 $ 3,044 Residential mortgage loans - junior liens 114 0 79 0 Home equity lines of credit 320 11 130 0 Total residential mortgage 3,456 3,781 2,590 3,044 Commercial: Commercial loans secured by real estate 2,774 3,080 503 5,730 Commercial and industrial 286 119 65 313 Loans secured by farmland 219 1,331 0 1,427 Multi-family (5 or more) residential 0 392 0 987 Agricultural loans 0 13 0 16 Total commercial 3,279 4,935 568 8,473 Consumer 103 20 71 0 Totals $ 6,838 $ 8,736 $ 3,229 $ 11,517 |
Past Due Financing Receivables [Table Text Block] | As of December 31, 2016 As of December 31, 2015 Current & Current & (In Thousands) Past Due Past Due Past Due Past Due Past Due Past Due Less than 30-89 90+ Less than 30-89 90+ 30 Days Days Days Total 30 Days Days Days Total Residential mortgage: Residential mortgage loans - first liens $ 321,670 $ 6,695 $ 5,737 $ 334,102 $ 294,703 $ 6,156 $ 3,924 $ 304,783 Residential mortgage loans - junior liens 23,268 324 114 23,706 20,816 251 79 21,146 Home equity lines of credit 37,603 134 320 38,057 38,581 329 130 39,040 1-4 Family residential construction 24,567 341 0 24,908 21,121 0 0 21,121 Total residential mortgage 407,108 7,494 6,171 420,773 375,221 6,736 4,133 386,090 Commercial: Commercial loans secured by real estate 147,464 82 2,922 150,468 153,427 108 1,244 154,779 Commercial and industrial 83,364 185 305 83,854 75,002 118 76 75,196 Political subdivisions 38,068 0 0 38,068 40,007 0 0 40,007 Commercial construction and land 14,199 88 0 14,287 5,018 104 0 5,122 Loans secured by farmland 6,181 83 1,030 7,294 5,970 223 826 7,019 Multi-family (5 or more) residential 7,439 65 392 7,896 8,201 0 987 9,188 Agricultural loans 3,981 4 13 3,998 4,642 13 16 4,671 Other commercial loans 11,475 0 0 11,475 12,152 0 0 12,152 Total commercial 312,171 507 4,662 317,340 304,419 566 3,149 308,134 Consumer 13,446 153 123 13,722 10,537 48 71 10,656 Totals $ 732,725 $ 8,154 $ 10,956 $ 751,835 $ 690,177 $ 7,350 $ 7,353 $ 704,880 |
Contractual Aging of Nonaccrual Loans [Table Text Block] | Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Total December 31, 2016 Nonaccrual Totals $ 4,199 $ 419 $ 4,118 $ 8,736 December 31, 2015 Nonaccrual Totals $ 7,100 $ 293 $ 4,124 $ 11,517 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Troubled Debt Restructurings (TDRs): Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Nonaccrual Total December 31, 2016 Totals $ 5,453 $ 350 $ 0 $ 2,874 $ 8,677 December 31, 2015 Totals $ 1,186 $ 0 $ 81 $ 5,097 $ 6,364 |
Schedule of Troubled Debt Restructurings With Subsequent Default [Table Text Block] | (Balances in Thousands) 2016 2015 2014 Number Number Number of Recorded of Recorded of Recorded Loans Investment Loans Investment Loans Investment Residential mortgage - first liens 2 $ 294 1 $ 32 3 $ 257 Residential mortgage - junior liens 1 29 0 0 1 62 Commercial loans secured by real estate 0 0 0 0 1 429 Commercial and industrial 1 5 0 0 0 0 Commercial construction and land 0 0 0 0 1 25 Loans secured by farmland 0 0 0 0 4 490 Agricultural loans 0 0 0 0 1 13 Consumer 1 27 0 0 0 0 Total 5 $ 355 1 $ 32 11 $ 1,276 |
Schedule of Real Estate Acquired Through Foreclosure [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2016 2015 Foreclosed residential real estate $ 1,102 $ 555 |
Schedule of Mortgage Loans in Process of Foreclosure [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2016 2015 Residential real estate in process of foreclosure $ 2,738 $ 1,173 |
Troubled Debt Restructuring [Member] | |
Notes Tables | |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | (Balances in Thousands) 2016 2015 2014 Post- Post- Post- Number Modification Number Modification Number Modification of Recorded of Recorded Of Recorded Loans Investment Loans Investment Loans Investment Residential mortgage - first liens: Extended maturity with interest rate reduction 1 $ 71 1 $ 56 1 $ 83 Extended maturity with reduced monthly payments 1 26 0 0 0 0 Interest only payments for a period of one year 0 0 0 0 1 34 Reduced monthly payments for a six-month period 0 0 1 242 1 33 Residential mortgage - junior liens, Interest rate and monthly payment reduction 0 0 1 32 0 0 Commercial loans secured by real estate: Interest only payments for a period of one year 1 2,773 0 0 0 0 Reduced monthly payments 0 0 0 0 5 5,193 Commerc i al and industrial: Extended maturity 1 5 0 0 0 0 Reduced monthly payments 0 0 0 0 1 80 Consumer: Interest rate and monthly payment reduction 0 0 1 30 0 0 New unsecured loan after short-fall from sale of property 1 24 0 0 0 0 Total 5 $ 2,899 4 $ 360 9 $ 5,423 |
Note 9 - Bank Premises and Eq36
Note 9 - Bank Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (In Thousands) December 31, 2016 2015 Land $ 2,818 $ 2,818 Buildings and improvements 27,619 27,092 Furniture and equipment 18,741 17,922 Construction in progress 392 243 Total 49,570 48,075 Less: accumulated depreciation (34,173 ) (32,669 ) Net $ 15,397 $ 15,406 |
Schedule of Depreciation Expense [Table Text Block] | (In Thousands) 201 6 2015 2014 Occupancy expense $ 804 $ 954 $ 998 Furniture and equipment expense 785 934 942 Total $ 1,589 $ 1,888 $ 1,940 |
Note 10 - Intangible Assets (Ta
Note 10 - Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, (In Thousands) 2016 2015 Gross amount $ 2,034 $ 2,034 Less: accumulated amortization (2,017 ) (2,004 ) Net $ 17 $ 30 |
Note 11 - Deposits (Tables)
Note 11 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Scheduled Maturities of Time Deposits [Table Text Block] | (In Thousands) 2017 $ 113,974 2018 51,526 2019 25,302 2020 14,458 2021 6,710 Thereafter 248 Total $ 212,218 |
Schedule of Remaining Maturities of Time Deposits in Excess of 100000 [Table Text Block] | (In Thousands) Three months or less $ 32,987 Over 3 months through 12 months 11,663 Over 1 year through 3 years 11,508 Over 3 years 7,605 Total $ 63,763 |
Note 12 - Borrowed Funds (Table
Note 12 - Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2016 2015 FHLB-Pittsburgh borrowings $ 21,000 $ 48,581 Customer repurchase agreements 5,175 4,915 Total short-term borrowings $ 26,175 $ 53,496 (In Thousands) Dec. 31, Dec. 31 2016 2015 Overnight borrowing $ 21,000 $ 23,500 Other short-term advances 0 25,081 Total short-term FHLB-Pittsburgh borrowings $ 21,000 $ 48,581 |
Schedule of Long-term Debt Instruments [Table Text Block] | LONG-TERM BORROWINGS Long-term borrowings (initial maturity of greater than one year) are as follows: (In Thousands) Dec. 31, Dec. 31, 2016 2015 FHLB-Pittsburgh borrowings $ 11,454 $ 11,767 Repurchase agreements 27,000 27,000 Total long-term borrowings $ 38,454 $ 38,767 |
Schedule of Maturities of Long-term Debt [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2016 2015 Loan maturing in 2016 with a rate of 6.86% $ 0 $ 57 Loan maturing in 2017 with a rate of 6.83% 4 10 Loan maturing in 2017 with a rate of 3.81% 10,000 10,000 Loan maturing in 2020 with a rate of 4.79% 646 821 Loan maturing in 2025 with a rate of 4.91% 804 879 Total long-term FHLB-Pittsburgh borrowings $ 11,454 $ 11,767 |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2016 2015 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities $ 18,181 $ 15,772 Residential collateralized mortgage obligations 13,313 18,008 Total $ 31,494 $ 33,780 |
Note 13 - Employee and Postre40
Note 13 - Employee and Postretirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Net Funded Status [Table Text Block] | Pension Postretirement 2016 2015 2016 2015 CHANGE IN BENEFIT OBLIGATION: Benefit obligation at beginning of year $ 722 $ 1,085 $ 1,539 $ 1,378 Service cost 0 0 37 38 Interest cost 26 36 62 57 Plan participants' contributions 0 0 215 203 Actuarial loss (gain) 3 (46 ) (30 ) 120 Benefits paid (38 ) (16 ) (268 ) (257 ) Settlement of plan obligation 0 (337 ) 0 0 Benefit obligation at end of year $ 713 $ 722 $ 1,555 $ 1,539 CHANGE IN PLAN ASSETS: Fair value of plan assets at beginning of year $ 839 $ 1,208 $ 0 $ 0 Actual return on plan assets 45 (16 ) 0 0 Employer contribution 0 0 53 54 Plan participants' contributions 0 0 215 203 Benefits paid (38 ) (16 ) (268 ) (257 ) Settlement of plan obligation 0 (337 ) 0 0 Fair value of plan assets at end of year $ 846 $ 839 $ 0 $ 0 Funded status at end of year $ 133 $ 117 $ (1,555 ) $ (1,539 ) |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | (In Thousands) Pension Postretirement 2016 2015 2016 2015 Other assets $ 133 $ 117 Accrued interest and other liabilities $ 1,555 $ 1,539 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | (In Thousands) Pension Postretirement 2016 2015 2016 2015 Prior service cost $ 0 $ 0 $ (340 ) $ (371 ) Net actuarial loss 161 186 101 131 Total $ 161 $ 186 $ (239 ) $ (240 ) |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | (In Thousands) Pension Postretirement 2016 2015 2014 2016 2015 2014 Service cost $ 0 $ 0 $ 0 $ 37 $ 38 $ 34 Interest cost 26 36 73 62 57 57 Expected return on plan assets (26 ) (45 ) (88 ) 0 0 0 Amortization of prior service cost 0 0 0 (31 ) (31 ) (31 ) Recognized net actuarial loss 9 11 19 0 0 0 Loss on settlement 0 87 196 0 0 0 Total net periodic benefit cost $ 9 $ 89 $ 200 $ 68 $ 64 $ 60 |
Schedule of Assumptions Used [Table Text Block] | Pension Postretirement 2016 2015 2014 2016 2015 2014 Discount rate 4.30 % 3.75 % 4.50 % 4.25 % 4.00 % 4.00 % Expected return on plan assets 5.00 % 5.31 % 5.31 % N/A N/A N/A Rate of compensation increase N/A N/A N/A N/A N/A N/A Pension Postretirement 2016 2015 2016 2015 Discount rate 4.05 % 4.30 % 4.25 % 4.25 % Rate of compensation increase N/A N/A N/A N/A |
Schedule of Expected Benefit Payments [Table Text Block] | (In Thousands) Pension Postretirement 2017 $ 222 $ 99 2018 15 103 2019 39 108 2020 12 114 2021 12 114 2022-2026 220 563 |
Schedule of Allocation of Plan Assets [Table Text Block] | 2016 2015 Mutual funds invested principally in: Cash and cash equivalents 2 % 2 % Debt securities 38 % 38 % Equity securities 44 % 46 % Alternative funds 16 % 14 % Total 100 % 100 % |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | (In Thousands) 2016 2015 2014 Restricted stock $ 578 $ 606 $ 412 Stock options 0 0 153 Total $ 578 $ 606 $ 565 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Weighted Average Number Grant Date of Shares Fair Value Outstanding, December 31, 2015 62,212 $ 20.10 Granted 35,427 $ 20.42 Vested (30,846 ) $ 19.90 Forfeited (3,431 ) $ 20.41 Outstanding, December 31, 2016 63,362 $ 20.35 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2014 Volatility 39 % Expected option lives (years) 8 Risk-free interest rate 2.85 % Dividend yield 4.33 % |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | 2016 2015 2014 Weighted Weighted Weighted Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Outstanding, beginning of year 248,486 $ 18.59 316,157 $ 19.05 358,176 $ 19.03 Granted 0 0 39,027 $ 20.45 Exercised (35,880 ) $ 18.86 (29,557 ) $ 17.56 (50,415 ) $ 17.57 Forfeited (10,569 ) $ 18.03 (20,211 ) $ 19.76 (16,424 ) $ 20.03 Expired 0 (17,903 ) $ 27.00 (14,207 ) $ 26.59 Outstanding, end of year 202,037 $ 18.58 248,486 $ 18.59 316,157 $ 19.05 Options exercisable at year-end 202,037 $ 18.58 248,486 $ 18.59 316,157 $ 19.05 Weighted-average fair value of options granted N/A N/A $ 5.50 Weighted-average fair value of options forfeited $ 4.04 $ 4.86 $ 4.89 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, December 31, (In Thousands) 2016 2015 Deferred tax assets: Unrealized holding losses on securities $ 512 $ 0 Net realized losses on securities 0 69 Allowance for loan losses 2,998 2,761 Other deferred tax assets 2,658 2,634 Total deferred tax assets 6,168 5,464 Deferred tax liabilities: Unrealized holding gains on securities 0 1,342 Defined benefit plans - ASC 835 27 19 Bank premises and equipment 913 869 Core deposit intangibles 6 11 Other deferred tax liabilities 105 108 Total deferred tax liabilities 1,051 2,349 Deferred tax asset, net $ 5,117 $ 3,115 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (In thousands) 2016 2015 2014 Currently payable $ 5,328 $ 5,097 $ 4,280 Tax expense resulting from allocations of certain tax benefits to equity or as a reduction in other assets 175 161 158 Deferred (156 ) 79 1,254 Total provision $ 5,347 $ 5,337 $ 5,692 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (Amounts in thousands) 2016 2015 2014 Amount % Amount % Amount % Expected provision $ 7,388 35.00 $ 7,633 35.00 $ 7,972 35.00 Tax-exempt interest income (1,801 ) (8.53 ) (1,914 ) (8.78 ) (1,982 ) (8.70 ) Nondeductible interest expense 40 0.19 51 0.23 56 0.25 Dividends received deduction (22 ) (0.10 ) (75 ) (0.34 ) (79 ) (0.35 ) Increase in cash surrender value of life insurance (134 ) (0.63 ) (135 ) (0.62 ) (132 ) (0.58 ) Employee stock option compensation 0 0.00 0 0.00 41 0.18 Tax benefit from limited partnership investment (76 ) (0.36 ) (80 ) (0.37 ) (83 ) (0.36 ) Other, net (48 ) (0.23 ) (143 ) (0.66 ) (101 ) (0.44 ) Effective income tax provision $ 5,347 25.33 $ 5,337 24.47 $ 5,692 24.99 |
Note 15 - Related Party Trans42
Note 15 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | (In Thousands) Beginning New Other Ending Balance Loans Repayments Changes Balance 12 directors, 7 executive officers 2016 $ 10,246 $ 307 $ (1,160 ) $ 2,021 $ 11,414 11 directors, 7 executive officers 2015 12,023 52 (808 ) (1,021 ) 10,246 12 directors, 8 executive officers 2014 12,547 188 (1,358 ) 646 12,023 |
Note 16 - Off-balance Sheet R43
Note 16 - Off-balance Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | (In Thousands) 2016 2015 Commitments to extend credit $ 180,768 $ 156,407 Standby letters of credit 9,025 13,340 |
Standby Letters of Credit [Member] | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Year of Expiration (In Thousands) 2017 $ 7,612 2018 387 2019 193 2020 64 2021 0 Thereafter 769 Total $ 9,025 |
Note 18 - Regulatory Matters (T
Note 18 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (Dollars in Thousands) Actual Minimum Capital Requirement Minimum To Maintain Capital Conservation Buffer at Reporting Date Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Minimum To Meet the Corporation's Policy Thresholds Amount Ratio Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31 , 2016: Total capital to risk-weighted assets: Consolidated $ 183,597 23.60 % $ 62,245 > % $ 67,108 > % $ 77,806 > % $ 81,697 > % C&N Bank 162,705 21.03 % 61,894 > % 66,730 > % 77,368 > % 81,236 > % Tier 1 capital to risk-weighted assets: Consolidated 174,928 22.48 % 31,122 > % 51,547 > % 62,245 > % 66,135 > % C&N Bank 154,036 19.91 % 30,947 > % 51,256 > % 61,894 > % 65,762 > % Common equity tier 1 capital to risk-weighted assets: Consolidated 174,928 22.48 % 31,122 > % 39,876 > % 50,574 > % 54,464 > % C&N Bank 154,036 19.91 % 30,947 > % 39,651 > % 50,289 > % 54,157 > % Tier 1 capital to average assets: Consolidated 174,928 14.27 % 49,026 > % N/A N/A 61,282 > % 61,282 > % C&N Bank 154,036 12.73 % 48,404 > % N/A N/A 60,506 > % 60,506 > % December 31, 2015: Total capital to risk-weighted assets: Consolidated $ 181,216 24.40 % $ 59,424 > % N/A N/A $ 74,281 > % $ 77,995 > % C&N Bank 161,187 21.83 % 59,058 > % N/A N/A 73,823 > % 77,514 > % Tier 1 capital to risk-weighted assets: Consolidated 173,009 23.29 % 29,712 > % N/A N/A 59,424 > % 63,139 > % C&N Bank 153,298 20.77 % 29,529 > % N/A N/A 59,058 > % 62,749 > % Common equity tier 1 capital to risk-weighted assets: Consolidated 173,009 23.29 % 29,712 > % N/A N/A 48,282 > % 51,996 > % C&N Bank 153,298 20.77 % 29,529 > % N/A N/A 47,985 > % 51,676 > % Tier 1 capital to average assets: Consolidated 173,009 14.31 % 48,355 > % N/A N/A 60,444 > % 60,444 > % C&N Bank 153,298 12.81 % 47,861 > % N/A N/A 59,826 > % 59,826 > % |
Regulatory Capital Requirements Under Banking Regulations Transition Schedule for New Ratios [Table Text Block] | As of January 1: 2015 2016 2017 2018 2019 Minimum common equity tier 1 capital ratio 4.5 % 4.5 % 4.5 % 4.5 % 4.5 % Common equity tier 1 capital conservation buffer N/A 0.625 % 1.25 % 1.875 % 2.5 % Minimum common equity tier 1 capital ratio plus capital conservation buffer 4.5 % 5.125 % 5.75 % 6.375 % 7.0 % Phase-in of most deductions from common equity tier 1 capital 40 % 60 % 80 % 100 % 100 % Minimum tier 1 capital ratio 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % Minimum tier 1 capital ratio plus capital conservation buffer N/A 6.625 % 7.25 % 7.875 % 8.5 % Minimum total capital ratio 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % Minimum total capital ratio plus capital conservation buffer N/A 8.625 % 9.25 % 9.875 % 10.5 % |
Regulatory Capital Requirements Payout Restrictions Based on Capital Conservation Buffer [Table Text Block] | Capital Conservation Buffer Maximum Payout (as a % of risk-weighted assets) (as a % of eligible retained income) Greater than 2.5% No payout limitation applies ≤2.5% and >1.875% 60 % ≤1.875% and >1.25% 40 % ≤1.25% and >0.625% 20 % ≤0.625% 0 % |
Note 19 - Parent Company Only (
Note 19 - Parent Company Only (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | CONDENSED BALANCE SHEET December 31, (In Thousands) 2016 2015 ASSETS Cash $ 6,033 $ 5,847 Investment in subsidiaries: Citizens & Northern Bank 165,397 167,277 Citizens & Northern Investment Corporation 11,168 10,966 Bucktail Life Insurance Company 3,419 3,392 Other assets 4 24 TOTAL ASSETS $ 186,021 $ 187,506 LIABILITIES AND STOCKHOLDERS' EQUITY Other liabilities $ 13 $ 19 Stockholders' equity 186,008 187,487 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 186,021 $ 187,506 |
Condensed Income Statement [Table Text Block] | CONDENSED INCOME STATEMENT (In Thousands) 2016 2015 2014 Dividends from Citizens & Northern Bank $ 14,960 $ 11,569 $ 22,608 Expenses (367 ) (234 ) (112 ) Income before equity in undistributed income of subsidiaries 14,593 11,335 22,496 Equity in undistributed income of subsidiaries 1,169 5,136 (5,410 ) NET INCOME $ 15,762 $ 16,471 $ 17,086 |
Condensed Cash Flow Statement [Table Text Block] | CONDENSED STATEMENT OF CASH FLOWS (In Thousands) 2016 2015 2014 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 15,762 $ 16,471 $ 17,086 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (1,169 ) (5,136 ) 5,410 Decrease (increase) in other assets 20 12 (36 ) (Decrease) increase in other liabilities (6 ) 12 1 Net Cash Provided by Operating Activities 14,607 11,359 22,461 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from sale of treasury stock 263 381 123 Tax benefit from compensation plans, net 151 143 137 Purchase of treasury stock (3,723 ) (4,415 ) (4,002 ) Dividends paid (11,112 ) (11,245 ) (11,392 ) Net Cash Used in Financing Activities (14,421 ) (15,136 ) (15,134 ) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 186 (3,777 ) 7,327 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 5,847 9,624 2,297 CASH AND CASH EQUIVALENTS, END OF YEAR $ 6,033 $ 5,847 $ 9,624 |
Note 20 - Summary of Quarterl46
Note 20 - Summary of Quarterly Consolidated Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | (In Thousands Except Per Share Data) (Unaudited) 2016 Quarter Ended Mar. 31, June 30, Sept. 30, Dec. 31, Interest income $ 10,937 $ 10,924 $ 11,131 $ 11,106 Interest expense 904 925 944 920 Net interest income 10,033 9,999 10,187 10,186 Provision (credit) for loan losses 368 318 538 (3 ) Net interest income after provision (credit) for loan losses 9,665 9,681 9,649 10,189 Other income 3,690 3,906 3,884 4,031 Net gains on available-for-sale securities 383 122 584 69 Other expenses 9,072 8,535 8,579 8,558 Income before income tax provision 4,666 5,174 5,538 5,731 Income tax provision 1,093 1,303 1,451 1,500 Net income $ 3,573 $ 3,871 $ 4,087 $ 4,231 Net income per share – basic $ 0.29 $ 0.32 $ 0.34 $ 0.35 Net income per share – diluted $ 0.29 $ 0.32 $ 0.34 $ 0.35 2015 Quarter Ended Mar. 31, June 30, Sept. 30, Dec. 31, Interest income $ 11,163 $ 11,186 $ 11,134 $ 11,036 Interest expense 1,213 1,176 1,126 1,087 Net interest income 9,950 10,010 10,008 9,949 Provision for loan losses 3 221 302 319 Net interest income after provision for loan losses 9,947 9,789 9,706 9,630 Other income 3,556 3,962 3,961 3,999 Net gains on available-for-sale securities 74 932 79 1,776 Loss on prepayment of borrowings 0 910 0 1,663 Other expenses 8,533 7,964 8,117 8,416 Income before income tax provision 5,044 5,809 5,629 5,326 Income tax provision 1,229 1,452 1,395 1,261 Net income $ 3,815 $ 4,357 $ 4,234 $ 4,065 Net income per share – basic $ 0.31 $ 0.36 $ 0.35 $ 0.33 Net income per share – diluted $ 0.31 $ 0.36 $ 0.35 $ 0.33 |
Note 1 - Nature of Operations47
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Number of Reportable Segments | 1 | |||
Financing Receivable, Allowance for Credit Losses | $ 8,473 | $ 7,889 | $ 7,336 | $ 8,663 |
Loans Receivable Secured by Real Estate Percentage | 57.00% | |||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 0 | |||
Unfunded Loan Commitment [Member] | ||||
Financing Receivable, Allowance for Credit Losses | $ 0 | $ 0 |
Note 3 - Comprehensive Income -
Note 3 - Comprehensive Income - Components of Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Unrealized holding (losses) gains on available-for-sale securities | $ (4,138) | $ (1,429) | $ 10,774 |
Unrealized holding gains (losses) on available-for-sale securities, income tax effect | 1,448 | 500 | (3,771) |
Unrealized holding (income) losses on available-for-sale securities, net of tax amount | (2,690) | (929) | 7,003 |
Reclassification adjustment for (gains) realized in income, before tax amount | (1,158) | (2,861) | (1,104) |
Reclassification adjustment for (gains) realized in income, income tax effect | 406 | 1,002 | 386 |
Reclassification adjustment for (gains) realized in income, net of tax amount | (752) | (1,859) | (718) |
Other comprehensive income (loss) on available-for-sale securities, before tax amount | (5,296) | (4,290) | 9,670 |
Other comprehensive income (loss) on available-for-sale securities, income tax effect | 1,854 | 1,502 | (3,385) |
Other comprehensive loss on available-for-sale securities, net of tax amount | (3,442) | (2,788) | 6,285 |
Changes from plan amendments and actuarial gains and losses included in accumulated other comprehensive gain (loss) | 46 | (135) | (79) |
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, income tax effect | (16) | 47 | 28 |
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, net of tax amount | 30 | (88) | (51) |
Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost, before tax amount | (22) | 67 | 184 |
Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost, income tax effect | 8 | (23) | (65) |
Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost, net of tax amount | (14) | 44 | 119 |
Other comprehensive (income) loss on unfunded retirement obligations, before tax amount | 24 | (68) | 105 |
Other comprehensive income (loss) on unfunded retirement obligations, income tax effect | (8) | 24 | (37) |
Other comprehensive income (loss) on unfunded retirement obligations, net of tax amount | 16 | (44) | 68 |
Total other comprehensive income (loss), before tax amount | (5,272) | (4,358) | 9,775 |
Total other comprehensive income (loss), income tax effect | 1,846 | 1,526 | (3,422) |
Net other comprehensive (loss) income | (3,426) | (2,832) | 6,353 |
Reclassification adjustment for (gains) realized in income, income tax effect | $ 406 | $ 1,002 | $ 386 |
Note 3 - Comprehensive Income49
Note 3 - Comprehensive Income - Changes in the Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance, beginning of period | $ 2,528 | ||
Net other comprehensive (loss) income | (3,426) | $ (2,832) | $ 6,353 |
Balance, end of period | (898) | 2,528 | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Balance, beginning of period | 2,493 | 5,281 | (1,004) |
Other comprehensive income (loss) before reclassifications | (2,690) | (929) | 7,003 |
Amounts reclassified from accumulated other comprehensive (loss) income | (752) | (1,859) | (718) |
Net other comprehensive (loss) income | (3,442) | (2,788) | 6,285 |
Balance, end of period | (949) | 2,493 | 5,281 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Balance, beginning of period | 35 | 79 | 11 |
Other comprehensive income (loss) before reclassifications | 30 | (88) | (51) |
Amounts reclassified from accumulated other comprehensive (loss) income | (14) | 44 | 119 |
Net other comprehensive (loss) income | 16 | (44) | 68 |
Balance, end of period | 51 | 35 | 79 |
AOCI Attributable to Parent [Member] | |||
Balance, beginning of period | 2,528 | 5,360 | (993) |
Other comprehensive income (loss) before reclassifications | (2,660) | (1,017) | 6,952 |
Amounts reclassified from accumulated other comprehensive (loss) income | (766) | (1,815) | (599) |
Net other comprehensive (loss) income | (3,426) | (2,832) | 6,353 |
Balance, end of period | $ (898) | $ 2,528 | $ 5,360 |
Note 3 - Comprehensive Income50
Note 3 - Comprehensive Income - Amounts Reclassified Out of Each Component of OCI (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Unrealized gains and losses on available-for-sale securities | $ (1,158) | $ (2,861) | $ (1,104) | ||||||||
Income tax provision | 5,347 | 5,337 | 5,692 | ||||||||
Net income | $ (4,231) | $ (4,087) | $ (3,871) | $ (3,573) | $ (4,065) | $ (4,234) | $ (4,357) | $ (3,815) | (15,762) | (16,471) | (17,086) |
Total before tax | $ (5,731) | $ (5,538) | $ (5,174) | $ (4,666) | $ (5,326) | $ (5,629) | $ (5,809) | $ (5,044) | (21,109) | (21,808) | (22,778) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Net income | (766) | (1,815) | (599) | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||||||||||
Unrealized gains and losses on available-for-sale securities | (1,158) | (2,861) | (1,104) | ||||||||
Income tax provision | 406 | 1,002 | 386 | ||||||||
Net income | (752) | (1,859) | (718) | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||||||||
Income tax provision | 8 | (23) | (65) | ||||||||
Net income | (14) | 44 | 119 | ||||||||
Prior service cost | (31) | (31) | (31) | ||||||||
Actuarial loss | 9 | 11 | 19 | ||||||||
Total before tax | $ (22) | 67 | 184 | ||||||||
Loss on settlement | $ 87 | $ 196 |
Note 4 - Per Share Data (Detail
Note 4 - Per Share Data (Details Textual) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Employee Stock Option [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 31,153 | 61,590 | 151,310 |
Note 4 - Per Share Data - Net I
Note 4 - Per Share Data - Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 4,231 | $ 4,087 | $ 3,871 | $ 3,573 | $ 4,065 | $ 4,234 | $ 4,357 | $ 3,815 | $ 15,762 | $ 16,471 | $ 17,086 |
Weighted average common shares – basic (in shares) | 12,098,129 | 12,211,941 | 12,390,067 | ||||||||
Earnings per share – basic (in dollars per share) | $ 0.35 | $ 0.34 | $ 0.32 | $ 0.29 | $ 0.33 | $ 0.35 | $ 0.36 | $ 0.31 | $ 1.30 | $ 1.35 | $ 1.38 |
Weighted average common shares, exercise of outstanding stock options (in shares) | 215,581 | 210,402 | 224,015 | ||||||||
Weighted average common shares, hypothetical share repurchase (in shares) | (185,346) | (188,570) | (202,032) | ||||||||
Weighted average common shares – diluted (in shares) | 12,128,364 | 12,233,773 | 12,412,050 | ||||||||
Earnings per share – diluted (in dollars per share) | $ 1.30 | $ 1.35 | $ 1.38 |
Note 4 - Per Share Data - Net53
Note 4 - Per Share Data - Net Income Per Share (Details) (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Hypothetical share repurchase price (in dollars per share) | $ 21.23 | $ 20.04 | $ 19.41 |
Note 5 - Cash and Due From Ba54
Note 5 - Cash and Due From Banks (Details Textual) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Restricted Cash and Cash Equivalents, Current | $ 16,654,000 | $ 15,327,000 |
Note 5 - Cash and Due Fom Banks
Note 5 - Cash and Due Fom Banks - Summary of Cash and Due From Banks (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Cash and cash equivalents | $ 28,621 | $ 33,313 |
Certificates of deposit | 3,488 | 2,748 |
Total cash and due from banks | $ 32,109 | $ 36,061 |
Note 6 - Fair Value Measureme56
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments - Assets Measured at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale securities | $ 395,077 | $ 420,290 |
Impaired loans with a valuation allowance | 3,372 | 1,933 |
Valuation allowance | (674) | (820) |
Impaired loans, net | 3,372 | 1,933 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 9,541 | 10,483 |
Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities | 119,037 | 107,757 |
Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities | 30,297 | 34,597 |
Residential Pass-Through Securities [Member] | ||
Available-for-sale securities | 58,404 | 73,343 |
Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities | 146,608 | 191,715 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 30,219 | |
Collateralized Debt Obligations [Member] | ||
Available-for-sale securities | 9 | |
Debt Securities [Member] | ||
Available-for-sale securities | 394,106 | 417,904 |
Equity Securities [Member] | ||
Available-for-sale securities | 971 | 2,386 |
Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities | 395,077 | 420,290 |
Servicing rights | 1,262 | 1,296 |
Total asset fair value measurements | 396,339 | 421,586 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 9,541 | 10,483 |
Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities | 119,037 | 107,757 |
Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities | 30,297 | 34,597 |
Fair Value, Measurements, Recurring [Member] | Residential Pass-Through Securities [Member] | ||
Available-for-sale securities | 58,404 | 73,343 |
Fair Value, Measurements, Recurring [Member] | Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities | 146,608 | 191,715 |
Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 30,219 | |
Fair Value, Measurements, Recurring [Member] | Collateralized Debt Obligations [Member] | ||
Available-for-sale securities | 9 | |
Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | ||
Available-for-sale securities | 394,106 | 417,904 |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Available-for-sale securities | 971 | 2,386 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Total asset fair value measurements | 4,878 | 2,373 |
Impaired loans with a valuation allowance | 3,372 | 1,933 |
Valuation allowance | (674) | (820) |
Impaired loans, net | 2,698 | 1,113 |
Foreclosed assets held for sale | 2,180 | 1,260 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities | 971 | 2,386 |
Servicing rights | 0 | 0 |
Total asset fair value measurements | 971 | 2,386 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Pass-Through Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Debt Obligations [Member] | ||
Available-for-sale securities | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Available-for-sale securities | 971 | 2,386 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Total asset fair value measurements | 0 | 0 |
Impaired loans with a valuation allowance | 0 | 0 |
Valuation allowance | 0 | 0 |
Impaired loans, net | 0 | 0 |
Foreclosed assets held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities | 394,106 | 417,904 |
Servicing rights | 0 | 0 |
Total asset fair value measurements | 394,106 | 417,904 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 9,541 | 10,483 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities | 119,037 | 107,757 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities | 30,297 | 34,597 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Pass-Through Securities [Member] | ||
Available-for-sale securities | 58,404 | 73,343 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities | 146,608 | 191,715 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 30,219 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Debt Obligations [Member] | ||
Available-for-sale securities | 9 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | ||
Available-for-sale securities | 394,106 | 417,904 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Total asset fair value measurements | 0 | 0 |
Impaired loans with a valuation allowance | 0 | 0 |
Valuation allowance | 0 | 0 |
Impaired loans, net | 0 | 0 |
Foreclosed assets held for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities | 0 | 0 |
Servicing rights | 1,262 | 1,296 |
Total asset fair value measurements | 1,262 | 1,296 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Pass-Through Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Debt Obligations [Member] | ||
Available-for-sale securities | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Total asset fair value measurements | 4,878 | 2,373 |
Impaired loans with a valuation allowance | 3,372 | 1,933 |
Valuation allowance | (674) | (820) |
Impaired loans, net | 2,698 | 1,113 |
Foreclosed assets held for sale | $ 2,180 | $ 1,260 |
Note 6 - Fair Value Measureme57
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments - Valuation Techniques and the Unobservable Inputs Used in Determining Fair Value - Recurring Basis (Details) - Servicing Rights Assets [Member] - Income Approach Valuation Technique [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair value | $ 1,262,000 | $ 1,296,000 |
Discount rate | 13.00% | 10.00% |
Weighted-average PSA | 138.00% | 146.00% |
Servicing fees of loan balances | 0.25% | 0.25% |
Servicing fees of payments are late | 4.00% | 4.00% |
Late fees assessed | 5.00% | 5.00% |
Miscellaneous fees per account per month | $ 1.94 | $ 1.94 |
Monthly servicing cost per account | 6 | 6 |
Additional monthly servicing cost per loan on loans more than 30 days delinquent | $ 24 | $ 24 |
Servicing costs of loans more than 30 days delinquent | 1.50% | 1.50% |
Annual increase in servicing costs | 3.00% | 3.00% |
Note 6 - Fair Value Measureme58
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments - Reconciliation of Activity for Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - Servicing Rights Assets [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance, beginning of period | $ 1,296 | $ 1,281 | $ 1,123 |
Issuances of servicing rights | 248 | 177 | 185 |
Unrealized losses included in earnings | (282) | (162) | (27) |
Balance, end of period | $ 1,262 | $ 1,296 | $ 1,281 |
Note 6 - Fair Value Measureme59
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments - Valuation Techniques and the Unobservable Inputs Used in Determining Fair Value - Nonrecurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Recorded investment - with allowance | $ 3,372 | $ 1,933 |
Valuation allowance | 674 | 820 |
Residential Portfolio Segment [Member] | ||
Foreclosed residential real estate | 1,102 | 555 |
Foreclosed assets held for sale | 1,102 | 555 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment - with allowance | 2,773 | 317 |
Valuation allowance | 528 | 97 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Recorded investment - with allowance | 95 | 75 |
Valuation allowance | 95 | 75 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Recorded investment - with allowance | 504 | 512 |
Valuation allowance | 51 | 52 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Recorded investment - with allowance | 0 | 987 |
Valuation allowance | 0 | 595 |
Impaired Loans [Member] | ||
Recorded investment - with allowance | 3,372 | 1,933 |
Valuation allowance | 674 | 820 |
Fair value | 2,698 | 1,113 |
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Market Approach Valuation Technique [Member] | ||
Recorded investment - with allowance | 42 | |
Valuation allowance | 1 | |
Fair value | $ 41 | |
Discount rate | 31.00% | |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Market Approach Valuation Technique [Member] | ||
Recorded investment - with allowance | 2,773 | $ 317 |
Valuation allowance | 528 | 97 |
Fair value | $ 2,245 | $ 220 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 7.00% | 46.00% |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Market Approach Valuation Technique [Member] | ||
Recorded investment - with allowance | $ 95 | $ 75 |
Valuation allowance | 95 | 75 |
Fair value | $ 0 | $ 0 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 100.00% | 31.00% |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Market Approach Valuation Technique [Member] | ||
Recorded investment - with allowance | $ 504 | $ 512 |
Valuation allowance | 51 | 52 |
Fair value | $ 453 | $ 460 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 55.00% | 49.00% |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | Market Approach Valuation Technique [Member] | ||
Recorded investment - with allowance | $ 987 | |
Valuation allowance | 595 | |
Fair value | $ 392 | |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 41.00% | |
Foreclosed Assets Held For Sale [Member] | ||
Fair value | $ 2,180 | $ 1,260 |
Foreclosed residential real estate | 2,180 | 1,260 |
Valuation allowance | 0 | 0 |
Foreclosed assets held for sale | 2,180 | 1,260 |
Foreclosed Assets Held For Sale [Member] | Land Receivable [Member] | Market Approach Valuation Technique [Member] | ||
Fair value | 650 | 704 |
Foreclosed residential real estate | 650 | 704 |
Valuation allowance | 0 | 0 |
Foreclosed assets held for sale | $ 650 | $ 704 |
Foreclosed Assets Held For Sale [Member] | Land Receivable [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 33.00% | 29.00% |
Foreclosed Assets Held For Sale [Member] | Commercial Real Estate Receivables [Member] | Market Approach Valuation Technique [Member] | ||
Fair value | $ 428 | |
Foreclosed residential real estate | 428 | |
Valuation allowance | 0 | |
Foreclosed assets held for sale | $ 428 | |
Foreclosed Assets Held For Sale [Member] | Commercial Real Estate Receivables [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 50.00% | |
Foreclosed Assets Held For Sale [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | ||
Fair value | $ 1,102 | $ 556 |
Foreclosed residential real estate | 1,102 | 556 |
Valuation allowance | 0 | 0 |
Foreclosed assets held for sale | $ 1,102 | $ 556 |
Foreclosed Assets Held For Sale [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 35.00% | 32.00% |
Note 6 - Fair Value Measureme60
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments - Estimated Fair Values, and Related Carrying Amounts, of the Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Cash and cash equivalents | $ 28,621 | $ 33,313 | $ 31,619 | $ 38,591 |
Certificates of deposit | 3,488 | 2,748 | ||
Available-for-sale securities | 395,077 | 420,290 | ||
Loans held for sale | 142 | 280 | ||
Loans, net | 743,362 | 696,991 | ||
Accrued interest receivable | 3,963 | 3,768 | ||
Time deposits | 212,218 | |||
Short-term Debt | 26,175 | 53,496 | ||
Long-term borrowings | 38,454 | 38,767 | ||
Reported Value Measurement [Member] | ||||
Available-for-sale securities | 395,077 | 420,290 | ||
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Cash and cash equivalents | 28,621 | 33,313 | ||
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Certificates of deposit | 3,488 | 2,748 | ||
Restricted equity securities (included in Other Assets) | 4,426 | 4,657 | ||
Loans held for sale | 142 | 280 | ||
Accrued interest receivable | 3,963 | 3,768 | ||
Deposits with no stated maturity | 771,625 | 713,931 | ||
Time deposits | 212,218 | 221,684 | ||
Short-term Debt | 26,175 | 53,496 | ||
Long-term borrowings | 38,454 | 38,767 | ||
Accrued interest payable | 65 | 70 | ||
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Loans, net | 743,362 | 696,991 | ||
Servicing rights | 1,262 | 1,296 | ||
Estimate of Fair Value Measurement [Member] | ||||
Available-for-sale securities | 395,077 | 420,290 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Cash and cash equivalents | 28,621 | 33,313 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Certificates of deposit | 3,481 | 2,752 | ||
Restricted equity securities (included in Other Assets) | 4,426 | 4,657 | ||
Loans held for sale | 142 | 280 | ||
Accrued interest receivable | 3,963 | 3,768 | ||
Deposits with no stated maturity | 771,625 | 713,931 | ||
Time deposits | 212,274 | 221,891 | ||
Short-term borrowings | 26,024 | 53,398 | ||
Long-term borrowings | 39,062 | 40,166 | ||
Accrued interest payable | 65 | 70 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Loans, net | 725,787 | 685,552 | ||
Servicing rights | $ 1,262 | $ 1,296 |
Note 7 - Securities (Details Te
Note 7 - Securities (Details Textual) | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Available-for-sale Securities Pledged as Collateral | $ 230,803,000 | $ 228,616,000 | |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities | 0 | 0 | $ 0 |
Available-for-sale Securities, Gross Realized Gains | 1,392,000 | 2,972,000 | 1,328,000 |
Other Assets [Member] | Federal Home Loan Bank of Pittsburgh [Member] | |||
Federal Home Loan Bank Stock | $ 4,296,000 | 4,527,000 | |
Mutual Fund [Member] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | ||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | $ 0 | 0 | 0 |
Available-for-sale Equity Securities, Gross Unrealized Loss | 29,000 | ||
Bank Stocks [Member] | |||
Available-for-sale Securities, Gross Realized Gains | 1,125,000 | 2,220,000 | $ 363,000 |
FHLB Stock [Member] | Federal Home Loan Bank of Pittsburgh [Member] | |||
Other than Temporary Impairment Losses, Investments | $ 0 | $ 0 |
Note 7 - Securities - Available
Note 7 - Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale securities, amortized cost | $ 396,538 | $ 416,455 |
Available-for-sale securities, gross unrealized holding gains | 3,614 | 6,573 |
Available-for-sale securities, gross unrealized holding losses | (5,075) | (2,738) |
Available-for-sale securities | 395,077 | 420,290 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 9,671 | 10,663 |
Available-for-sale securities, gross unrealized holding gains | 5 | 12 |
Available-for-sale securities, gross unrealized holding losses | (135) | (192) |
Available-for-sale securities | 9,541 | 10,483 |
Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities, amortized cost | 118,140 | 103,414 |
Available-for-sale securities, gross unrealized holding gains | 2,592 | 4,365 |
Available-for-sale securities, gross unrealized holding losses | (1,695) | (22) |
Available-for-sale securities | 119,037 | 107,757 |
Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities, amortized cost | 30,073 | 34,317 |
Available-for-sale securities, gross unrealized holding gains | 303 | 381 |
Available-for-sale securities, gross unrealized holding losses | (79) | (101) |
Available-for-sale securities | 30,297 | 34,597 |
Residential Pass-Through Securities [Member] | ||
Available-for-sale securities, amortized cost | 58,922 | 73,227 |
Available-for-sale securities, gross unrealized holding gains | 306 | 486 |
Available-for-sale securities, gross unrealized holding losses | (824) | (370) |
Available-for-sale securities | 58,404 | 73,343 |
Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, amortized cost | 147,915 | 193,145 |
Available-for-sale securities, gross unrealized holding gains | 408 | 623 |
Available-for-sale securities, gross unrealized holding losses | (1,715) | (2,053) |
Available-for-sale securities | 146,608 | 191,715 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities, amortized cost | 30,817 | |
Available-for-sale securities, gross unrealized holding gains | 0 | |
Available-for-sale securities, gross unrealized holding losses | (598) | |
Available-for-sale securities | 30,219 | |
Collateralized Debt Obligations [Member] | ||
Available-for-sale securities, amortized cost | 9 | |
Available-for-sale securities, gross unrealized holding gains | 0 | |
Available-for-sale securities, gross unrealized holding losses | 0 | |
Available-for-sale securities | 9 | |
Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 395,538 | 414,775 |
Available-for-sale securities, gross unrealized holding gains | 3,614 | 5,867 |
Available-for-sale securities, gross unrealized holding losses | (5,046) | (2,738) |
Available-for-sale securities | 394,106 | 417,904 |
Equity Securities [Member] | ||
Available-for-sale securities, amortized cost | 1,000 | 1,680 |
Available-for-sale securities, gross unrealized holding gains | 0 | 706 |
Available-for-sale securities, gross unrealized holding losses | (29) | 0 |
Available-for-sale securities | $ 971 | $ 2,386 |
Note 7 - Securities - Availab63
Note 7 - Securities - Available-for-sale Securities With Unrealized Loss Positions (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | $ 237,063 | $ 142,924 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (4,465) | (1,022) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 17,351 | 63,752 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (610) | (1,716) |
Available-for-sale securities with unrealized loss positions, fair value | 254,414 | 206,676 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (5,075) | (2,738) |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 7,899 | 0 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (135) | 0 |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 0 | 7,850 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | 0 | (192) |
Available-for-sale securities with unrealized loss positions, fair value | 7,899 | 7,850 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (135) | (192) |
Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 54,479 | 5,200 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (1,676) | (19) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 1,278 | 216 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (19) | (3) |
Available-for-sale securities with unrealized loss positions, fair value | 55,757 | 5,416 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (1,695) | (22) |
Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 9,594 | 10,605 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (79) | (60) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 0 | 2,910 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | 0 | (41) |
Available-for-sale securities with unrealized loss positions, fair value | 9,594 | 13,515 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (79) | (101) |
Residential Pass-Through Securities [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 48,674 | 38,764 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (824) | (295) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 0 | 3,503 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | 0 | (75) |
Available-for-sale securities with unrealized loss positions, fair value | 48,674 | 42,267 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (824) | (370) |
Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 85,198 | 88,355 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (1,124) | (648) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 16,073 | 49,273 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (591) | (1,405) |
Available-for-sale securities with unrealized loss positions, fair value | 101,271 | 137,628 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (1,715) | $ (2,053) |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 30,219 | |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (598) | |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 0 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | 0 | |
Available-for-sale securities with unrealized loss positions, fair value | 30,219 | |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (598) | |
Debt Securities [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 236,063 | |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (4,436) | |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 17,351 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (610) | |
Available-for-sale securities with unrealized loss positions, fair value | 253,414 | |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (5,046) | |
Equity Securities [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 1,000 | |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (29) | |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 0 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | 0 | |
Available-for-sale securities with unrealized loss positions, fair value | 1,000 | |
Available-for-sale securities, with unrealized loss positions, unrealized losses | $ (29) |
Note 7 - Securities - Gross Rea
Note 7 - Securities - Gross Realized Gains and Losses From Available-for-sale Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Gross realized gains from sales | $ 1,392 | $ 2,972 | $ 1,328 | ||||||||
Gross realized losses from sales | (234) | (111) | (224) | ||||||||
Net realized gains | $ 69 | $ 584 | $ 122 | $ 383 | $ 1,776 | $ 79 | $ 932 | $ 74 | 1,158 | 2,861 | 1,104 |
Income tax provision related to net realized gains | $ 406 | $ 1,002 | $ 386 |
Note 7 - Securities - Availab65
Note 7 - Securities - Available-for-sale Debt Securities by Contractual Maturity (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Due in one year or less | $ 18,678 |
Due in one year or less | 18,832 |
Due from one year through five years | 69,558 |
Due from one year through five years | 70,657 |
Due from five years through ten years | 44,527 |
Due from five years through ten years | 43,979 |
Due after ten years | 25,121 |
Due after ten years | 25,407 |
Sub-total | 157,884 |
Sub-total | 158,875 |
Total | 395,538 |
Total | 394,106 |
Residential Pass-Through Securities [Member] | |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, amortized cost | 58,922 |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, fair value | 58,404 |
Residential Collateralized Mortgage Obligations [Member] | |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, amortized cost | 147,915 |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, fair value | 146,608 |
Commercial Mortgage-backed Securities [Member] | |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, amortized cost | 30,817 |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, fair value | $ 30,219 |
Note 8 - Loans (Details Textual
Note 8 - Loans (Details Textual) | 1 Months Ended | 12 Months Ended | ||
Jul. 31, 2016 | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | ||
Financing Receivable, Modifications, Number of Contracts | 5 | 4 | 9 | |
Financing Receivable, Outstanding Contractual Balance | $ 6,529,000 | |||
Financing Receivable, Modifications, Recorded Investment | $ 4,786,000 | |||
Commercial Portfolio Segment [Member] | Reduction in Payment [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 6 | |||
Financing Receivable Modification Reduced Payment Period | 1 year | 1 year 90 days | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 1,486,000 | |||
Minimum [Member] | ||||
Financing Receivable Individually Evaluated for Impairment Threshold With Extension of Credit | $ 200,000 | |||
Financing Receivable Individually Evaluated for Impairment Estimated Loss Trigger | 100,000 | |||
Maximum [Member] | ||||
Financing Receivable Individually Evaluated for Impairment Threshold With Estimated Loss | $ 200,000 | |||
Loans Receivable 1 [Member] | Credit Availability Concentration Risk [Member] | ||||
Concentration Risk, Percentage | 0.00% |
Note 8 - Loans - Loans Receivab
Note 8 - Loans - Loans Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loans receivable | $ 751,835 | $ 704,880 |
Less: allowance for loan losses | (8,473) | (7,889) |
Loans, net | 743,362 | 696,991 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 420,773 | 386,090 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 334,102 | 304,783 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 23,706 | 21,146 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 38,057 | 39,040 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 24,908 | 21,121 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 317,340 | 308,134 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 150,468 | 154,779 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 14,287 | 5,122 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 83,854 | 75,196 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 38,068 | 40,007 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 7,294 | 7,019 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 7,896 | 9,188 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 3,998 | 4,671 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 11,475 | 12,152 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | $ 13,722 | $ 10,656 |
Note 8 - Loans - Allowance for
Note 8 - Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Allowance for loan losses | $ 7,889 | $ 7,336 | $ 7,889 | $ 7,336 | $ 8,663 | ||||||
Allowance for loan losses, charge-offs | (757) | (562) | (2,139) | ||||||||
Allowance for loan losses, recoveries | 120 | 270 | 336 | ||||||||
Allowance for loan losses, provision | $ (3) | $ 538 | $ 318 | 368 | $ 319 | $ 302 | $ 221 | 3 | 1,221 | 845 | 476 |
Allowance for loan losses | 8,473 | 7,889 | 8,473 | 7,889 | 7,336 | ||||||
Residential Portfolio Segment [Member] | |||||||||||
Allowance for loan losses | 3,418 | 3,653 | 3,418 | 3,653 | 3,705 | ||||||
Allowance for loan losses, charge-offs | (73) | (217) | (327) | ||||||||
Allowance for loan losses, recoveries | 3 | 1 | 25 | ||||||||
Allowance for loan losses, provision | 542 | (19) | 250 | ||||||||
Allowance for loan losses | 3,890 | 3,418 | 3,890 | 3,418 | 3,653 | ||||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | |||||||||||
Allowance for loan losses | 2,645 | 2,941 | 2,645 | 2,941 | 2,974 | ||||||
Allowance for loan losses, charge-offs | (73) | (175) | (164) | ||||||||
Allowance for loan losses, recoveries | 3 | 1 | 25 | ||||||||
Allowance for loan losses, provision | 458 | (122) | 106 | ||||||||
Allowance for loan losses | 3,033 | 2,645 | 3,033 | 2,645 | 2,941 | ||||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | |||||||||||
Allowance for loan losses | 219 | 176 | 219 | 176 | 294 | ||||||
Allowance for loan losses, charge-offs | 0 | (42) | (101) | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | 39 | 85 | (17) | ||||||||
Allowance for loan losses | 258 | 219 | 258 | 219 | 176 | ||||||
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | |||||||||||
Allowance for loan losses | 347 | 322 | 347 | 322 | 269 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | (62) | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | 3 | 25 | 115 | ||||||||
Allowance for loan losses | 350 | 347 | 350 | 347 | 322 | ||||||
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||||||||
Allowance for loan losses | 207 | 214 | 207 | 214 | 168 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | 42 | (7) | 46 | ||||||||
Allowance for loan losses | 249 | 207 | 249 | 207 | 214 | ||||||
Commercial Portfolio Segment [Member] | |||||||||||
Allowance for loan losses | 3,922 | 3,143 | 3,922 | 3,143 | 4,367 | ||||||
Allowance for loan losses, charge-offs | (597) | (251) | (1,715) | ||||||||
Allowance for loan losses, recoveries | 35 | 214 | 264 | ||||||||
Allowance for loan losses, provision | 687 | 816 | 227 | ||||||||
Allowance for loan losses | 4,047 | 3,922 | 4,047 | 3,922 | 3,143 | ||||||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||||||||||
Allowance for loan losses | 1,939 | 1,758 | 1,939 | 1,758 | 3,123 | ||||||
Allowance for loan losses, charge-offs | 0 | (115) | (1,521) | ||||||||
Allowance for loan losses, recoveries | 2 | 208 | 250 | ||||||||
Allowance for loan losses, provision | 439 | 88 | (94) | ||||||||
Allowance for loan losses | 2,380 | 1,939 | 2,380 | 1,939 | 1,758 | ||||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||||||||
Allowance for loan losses | 58 | 283 | 58 | 283 | 267 | ||||||
Allowance for loan losses, charge-offs | 0 | (115) | (170) | ||||||||
Allowance for loan losses, recoveries | 30 | 0 | 5 | ||||||||
Allowance for loan losses, provision | 74 | (110) | 181 | ||||||||
Allowance for loan losses | 162 | 58 | 162 | 58 | 283 | ||||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||||||||
Allowance for loan losses | 981 | 688 | 981 | 688 | 591 | ||||||
Allowance for loan losses, charge-offs | (2) | (21) | (24) | ||||||||
Allowance for loan losses, recoveries | 3 | 6 | 9 | ||||||||
Allowance for loan losses, provision | 17 | 308 | 112 | ||||||||
Allowance for loan losses | 999 | 981 | 999 | 981 | 688 | ||||||
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | |||||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | 0 | 0 | 0 | ||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | ||||||
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | |||||||||||
Allowance for loan losses | 106 | 165 | 106 | 165 | 115 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | 4 | (59) | 50 | ||||||||
Allowance for loan losses | 110 | 106 | 110 | 106 | 165 | ||||||
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | |||||||||||
Allowance for loan losses | 675 | 87 | 675 | 87 | 103 | ||||||
Allowance for loan losses, charge-offs | (595) | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | 161 | 588 | (16) | ||||||||
Allowance for loan losses | 241 | 675 | 241 | 675 | 87 | ||||||
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||||||||||
Allowance for loan losses | 45 | 31 | 45 | 31 | 30 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | (5) | 14 | 1 | ||||||||
Allowance for loan losses | 40 | 45 | 40 | 45 | 31 | ||||||
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | |||||||||||
Allowance for loan losses | 118 | 131 | 118 | 131 | 138 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | (3) | (13) | (7) | ||||||||
Allowance for loan losses | 115 | 118 | 115 | 118 | 131 | ||||||
Consumer Portfolio Segment [Member] | |||||||||||
Allowance for loan losses | 122 | 145 | 122 | 145 | 193 | ||||||
Allowance for loan losses, charge-offs | (87) | (94) | (97) | ||||||||
Allowance for loan losses, recoveries | 82 | 55 | 47 | ||||||||
Allowance for loan losses, provision | 21 | 16 | 2 | ||||||||
Allowance for loan losses | 138 | 122 | 138 | 122 | 145 | ||||||
Unallocated Financing Receivables [Member] | |||||||||||
Allowance for loan losses | $ 427 | $ 395 | 427 | 395 | 398 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | (29) | 32 | (3) | ||||||||
Allowance for loan losses | $ 398 | $ 427 | $ 398 | $ 427 | $ 395 |
Note 8 - Loans - Outstanding Lo
Note 8 - Loans - Outstanding Loans by Risk Rating (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loans receivable | $ 751,835 | $ 704,880 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 420,773 | 386,090 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 334,102 | 304,783 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 23,706 | 21,146 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 38,057 | 39,040 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 24,908 | 21,121 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 317,340 | 308,134 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 150,468 | 154,779 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 14,287 | 5,122 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 83,854 | 75,196 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 38,068 | 40,007 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 7,294 | 7,019 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 7,896 | 9,188 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 3,998 | 4,671 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 11,475 | 12,152 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 13,722 | 10,656 |
Pass [Member] | ||
Loans receivable | 721,772 | 671,850 |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 409,831 | 375,035 |
Pass [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 324,377 | 295,302 |
Pass [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 23,274 | 20,558 |
Pass [Member] | Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 37,360 | 38,071 |
Pass [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 24,820 | 21,104 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 298,395 | 286,325 |
Pass [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 139,358 | 140,381 |
Pass [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 14,136 | 4,957 |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 79,202 | 71,225 |
Pass [Member] | Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 38,068 | 40,007 |
Pass [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 5,745 | 5,084 |
Pass [Member] | Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 7,277 | 7,943 |
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 3,208 | 4,655 |
Pass [Member] | Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 11,401 | 12,073 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 13,546 | 10,490 |
Special Mention [Member] | ||
Loans receivable | 8,134 | 9,684 |
Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 663 | 1,152 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 408 | 407 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 132 | 185 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 123 | 543 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 0 | 17 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 7,471 | 8,511 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 3,092 | 5,862 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 70 | 60 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 4,180 | 2,106 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 129 | 483 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 0 | 21 |
Substandard [Member] | ||
Loans receivable | 21,843 | 23,131 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 10,220 | 9,836 |
Substandard [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 9,258 | 9,007 |
Substandard [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 300 | 403 |
Substandard [Member] | Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 574 | 426 |
Substandard [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 88 | 0 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 11,447 | 13,150 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 8,018 | 8,536 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 81 | 105 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 461 | 1,737 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 1,404 | 1,432 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 619 | 1,245 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 790 | 16 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 74 | 79 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 176 | 145 |
Doubtful [Member] | ||
Loans receivable | 86 | 215 |
Doubtful [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 59 | 67 |
Doubtful [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 59 | 67 |
Doubtful [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 27 | 148 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 11 | 128 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 16 | 20 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | $ 0 | $ 0 |
Note 8 - Loans - Loan Balances
Note 8 - Loans - Loan Balances and Allowance for Loan Losses for Each Impairment Method (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Loans receivable: individually evaluated | $ 10,860 | $ 9,974 | ||
Loans receivable: collectively evaluated | 740,975 | 694,906 | ||
Loans receivable | 751,835 | 704,880 | ||
Allowance for loan losses: individually evaluated | 674 | 820 | ||
Allowance for loan losses: collectively evaluated | 7,401 | 6,642 | ||
Allowance for loan losses | 8,473 | 7,889 | $ 7,336 | $ 8,663 |
Residential Portfolio Segment [Member] | ||||
Loans receivable: individually evaluated | 821 | 958 | ||
Loans receivable: collectively evaluated | 419,952 | 385,132 | ||
Loans receivable | 420,773 | 386,090 | ||
Allowance for loan losses: individually evaluated | 0 | 1 | ||
Allowance for loan losses: collectively evaluated | 3,890 | 3,417 | ||
Allowance for loan losses | 3,890 | 3,418 | 3,653 | 3,705 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||||
Loans receivable: individually evaluated | 753 | 884 | ||
Loans receivable: collectively evaluated | 333,349 | 303,899 | ||
Loans receivable | 334,102 | 304,783 | ||
Allowance for loan losses: individually evaluated | 0 | 1 | ||
Allowance for loan losses: collectively evaluated | 3,033 | 2,644 | ||
Allowance for loan losses | 3,033 | 2,645 | 2,941 | 2,974 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||||
Loans receivable: individually evaluated | 68 | 74 | ||
Loans receivable: collectively evaluated | 23,638 | 21,072 | ||
Loans receivable | 23,706 | 21,146 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 258 | 219 | ||
Allowance for loan losses | 258 | 219 | 176 | 294 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 38,057 | 39,040 | ||
Loans receivable | 38,057 | 39,040 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 350 | 347 | ||
Allowance for loan losses | 350 | 347 | 322 | 269 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 24,908 | 21,121 | ||
Loans receivable | 24,908 | 21,121 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 249 | 207 | ||
Allowance for loan losses | 249 | 207 | 214 | 168 |
Commercial Portfolio Segment [Member] | ||||
Loans receivable: individually evaluated | 10,016 | 9,016 | ||
Loans receivable: collectively evaluated | 307,324 | 299,118 | ||
Loans receivable | 317,340 | 308,134 | ||
Allowance for loan losses: individually evaluated | 674 | 819 | ||
Allowance for loan losses: collectively evaluated | 3,373 | 3,103 | ||
Allowance for loan losses | 4,047 | 3,922 | 3,143 | 4,367 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Loans receivable: individually evaluated | 8,005 | 6,262 | ||
Loans receivable: collectively evaluated | 142,463 | 148,517 | ||
Loans receivable | 150,468 | 154,779 | ||
Allowance for loan losses: individually evaluated | 528 | 97 | ||
Allowance for loan losses: collectively evaluated | 1,852 | 1,842 | ||
Allowance for loan losses | 2,380 | 1,939 | 1,758 | 3,123 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 14,287 | 5,122 | ||
Loans receivable | 14,287 | 5,122 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 162 | 58 | ||
Allowance for loan losses | 162 | 58 | 283 | 267 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Loans receivable: individually evaluated | 212 | 324 | ||
Loans receivable: collectively evaluated | 83,642 | 74,872 | ||
Loans receivable | 83,854 | 75,196 | ||
Allowance for loan losses: individually evaluated | 95 | 75 | ||
Allowance for loan losses: collectively evaluated | 904 | 906 | ||
Allowance for loan losses | 999 | 981 | 688 | 591 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 38,068 | 40,007 | ||
Loans receivable | 38,068 | 40,007 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 0 | 0 | ||
Allowance for loan losses | 0 | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||||
Loans receivable: individually evaluated | 1,394 | 1,427 | ||
Loans receivable: collectively evaluated | 5,900 | 5,592 | ||
Loans receivable | 7,294 | 7,019 | ||
Allowance for loan losses: individually evaluated | 51 | 52 | ||
Allowance for loan losses: collectively evaluated | 59 | 54 | ||
Allowance for loan losses | 110 | 106 | 165 | 115 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||||
Loans receivable: individually evaluated | 392 | 987 | ||
Loans receivable: collectively evaluated | 7,504 | 8,201 | ||
Loans receivable | 7,896 | 9,188 | ||
Allowance for loan losses: individually evaluated | 0 | 595 | ||
Allowance for loan losses: collectively evaluated | 241 | 80 | ||
Allowance for loan losses | 241 | 675 | 87 | 103 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||||
Loans receivable: individually evaluated | 13 | 16 | ||
Loans receivable: collectively evaluated | 3,985 | 4,655 | ||
Loans receivable | 3,998 | 4,671 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 40 | 45 | ||
Allowance for loan losses | 40 | 45 | 31 | 30 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 11,475 | 12,152 | ||
Loans receivable | 11,475 | 12,152 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 115 | 118 | ||
Allowance for loan losses | 115 | 118 | 131 | 138 |
Consumer Portfolio Segment [Member] | ||||
Loans receivable: individually evaluated | 23 | 0 | ||
Loans receivable: collectively evaluated | 13,699 | 10,656 | ||
Loans receivable | 13,722 | 10,656 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 138 | 122 | ||
Allowance for loan losses | 138 | 122 | 145 | 193 |
Unallocated Financing Receivables [Member] | ||||
Allowance for loan losses | $ 398 | $ 427 | $ 395 | $ 398 |
Note 8 - Loans - Impaired Loans
Note 8 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Unpaid principal - with no allowance | $ 9,856 | $ 9,676 |
Recorded investment - with no allowance | 7,488 | 8,041 |
Unpaid principal - with allowance | 3,372 | 1,933 |
Recorded investment - with allowance | 3,372 | 1,933 |
Related allowance - with allowance | 674 | 820 |
Total | 13,228 | 11,609 |
Total | 10,860 | 9,974 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Unpaid principal - with no allowance | 783 | 842 |
Recorded investment - with no allowance | 753 | 842 |
Unpaid principal - with allowance | 0 | 42 |
Recorded investment - with allowance | 0 | 42 |
Related allowance - with allowance | 0 | 1 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Unpaid principal - with no allowance | 68 | 74 |
Recorded investment - with no allowance | 68 | 74 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Unpaid principal - with no allowance | 6,975 | 7,580 |
Recorded investment - with no allowance | 5,232 | 5,945 |
Unpaid principal - with allowance | 2,773 | 317 |
Recorded investment - with allowance | 2,773 | 317 |
Related allowance - with allowance | 528 | 97 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Unpaid principal - with no allowance | 117 | 249 |
Recorded investment - with no allowance | 117 | 249 |
Unpaid principal - with allowance | 95 | 75 |
Recorded investment - with allowance | 95 | 75 |
Related allowance - with allowance | 95 | 75 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Unpaid principal - with no allowance | 890 | 915 |
Recorded investment - with no allowance | 890 | 915 |
Unpaid principal - with allowance | 504 | 512 |
Recorded investment - with allowance | 504 | 512 |
Related allowance - with allowance | 51 | 52 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Unpaid principal - with no allowance | 987 | 0 |
Recorded investment - with no allowance | 392 | 0 |
Unpaid principal - with allowance | 0 | 987 |
Recorded investment - with allowance | 0 | 987 |
Related allowance - with allowance | 0 | 595 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Unpaid principal - with no allowance | 13 | 16 |
Recorded investment - with no allowance | 13 | 16 |
Consumer Portfolio Segment [Member] | ||
Unpaid principal - with no allowance | 23 | 0 |
Recorded investment - with no allowance | $ 23 | $ 0 |
Note 8 - Loans - Average Balanc
Note 8 - Loans - Average Balance of Impaired Loans and Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Average investment in impaired loans | $ 10,185 | $ 11,375 | $ 14,359 |
Interest income recognized on impaired loans on a cash basis | 657 | 596 | 703 |
Residential Portfolio Segment [Member] | |||
Average investment in impaired loans | 877 | 2,270 | 4,440 |
Interest income recognized on impaired loans on a cash basis | 46 | 90 | 84 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | |||
Average investment in impaired loans | 806 | 2,206 | 4,272 |
Interest income recognized on impaired loans on a cash basis | 43 | 86 | 81 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | |||
Average investment in impaired loans | 71 | 64 | 168 |
Interest income recognized on impaired loans on a cash basis | 3 | 4 | 3 |
Commercial Portfolio Segment [Member] | |||
Average investment in impaired loans | 9,287 | 9,105 | 9,918 |
Interest income recognized on impaired loans on a cash basis | 610 | 506 | 619 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Average investment in impaired loans | 6,806 | 6,357 | 7,192 |
Interest income recognized on impaired loans on a cash basis | 495 | 380 | 469 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Average investment in impaired loans | 547 | 438 | 877 |
Interest income recognized on impaired loans on a cash basis | 20 | 20 | 37 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||
Average investment in impaired loans | 0 | 40 | 395 |
Interest income recognized on impaired loans on a cash basis | 0 | 0 | 9 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | |||
Average investment in impaired loans | 1,409 | 1,459 | 1,413 |
Interest income recognized on impaired loans on a cash basis | 94 | 103 | 101 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | |||
Average investment in impaired loans | 511 | 790 | 0 |
Interest income recognized on impaired loans on a cash basis | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Average investment in impaired loans | 14 | 21 | 41 |
Interest income recognized on impaired loans on a cash basis | 1 | 3 | 3 |
Consumer Portfolio Segment [Member] | |||
Average investment in impaired loans | 21 | 0 | 1 |
Interest income recognized on impaired loans on a cash basis | $ 1 | $ 0 | $ 0 |
Note 8 - Loans - Nonaccrual Loa
Note 8 - Loans - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loans past due 90+ days and accruing | $ 6,838 | $ 3,229 |
Nonaccrual loans | 8,736 | 11,517 |
Residential Portfolio Segment [Member] | ||
Loans past due 90+ days and accruing | 3,456 | 2,590 |
Nonaccrual loans | 3,781 | 3,044 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans past due 90+ days and accruing | 3,022 | 2,381 |
Nonaccrual loans | 3,770 | 3,044 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans past due 90+ days and accruing | 114 | 79 |
Nonaccrual loans | 0 | 0 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans past due 90+ days and accruing | 320 | 130 |
Nonaccrual loans | 11 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans past due 90+ days and accruing | 3,279 | 568 |
Nonaccrual loans | 4,935 | 8,473 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans past due 90+ days and accruing | 2,774 | 503 |
Nonaccrual loans | 3,080 | 5,730 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans past due 90+ days and accruing | 286 | 65 |
Nonaccrual loans | 119 | 313 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans past due 90+ days and accruing | 219 | 0 |
Nonaccrual loans | 1,331 | 1,427 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans past due 90+ days and accruing | 0 | 0 |
Nonaccrual loans | 392 | 987 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans past due 90+ days and accruing | 0 | 0 |
Nonaccrual loans | 13 | 16 |
Consumer Portfolio Segment [Member] | ||
Loans past due 90+ days and accruing | 103 | 71 |
Nonaccrual loans | $ 20 | $ 0 |
Note 8 - Loans - Contractual Ag
Note 8 - Loans - Contractual Aging of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Troubled debt restructurings, current and past due less than 30 days | $ 732,725 | $ 690,177 |
Loans receivable | 751,835 | 704,880 |
Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 8,154 | 7,350 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 10,956 | 7,353 |
Residential Portfolio Segment [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 407,108 | 375,221 |
Loans receivable | 420,773 | 386,090 |
Residential Portfolio Segment [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 7,494 | 6,736 |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 6,171 | 4,133 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 321,670 | 294,703 |
Loans receivable | 334,102 | 304,783 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 6,695 | 6,156 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 5,737 | 3,924 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 23,268 | 20,816 |
Loans receivable | 23,706 | 21,146 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 324 | 251 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 114 | 79 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 37,603 | 38,581 |
Loans receivable | 38,057 | 39,040 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 134 | 329 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 320 | 130 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 24,567 | 21,121 |
Loans receivable | 24,908 | 21,121 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 341 | 0 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 312,171 | 304,419 |
Loans receivable | 317,340 | 308,134 |
Commercial Portfolio Segment [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 507 | 566 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 4,662 | 3,149 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 147,464 | 153,427 |
Loans receivable | 150,468 | 154,779 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 82 | 108 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 2,922 | 1,244 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 14,199 | 5,018 |
Loans receivable | 14,287 | 5,122 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 88 | 104 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 83,364 | 75,002 |
Loans receivable | 83,854 | 75,196 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 185 | 118 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 305 | 76 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 38,068 | 40,007 |
Loans receivable | 38,068 | 40,007 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 6,181 | 5,970 |
Loans receivable | 7,294 | 7,019 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 83 | 223 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 1,030 | 826 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 7,439 | 8,201 |
Loans receivable | 7,896 | 9,188 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 65 | 0 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 392 | 987 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 3,981 | 4,642 |
Loans receivable | 3,998 | 4,671 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 4 | 13 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 13 | 16 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 11,475 | 12,152 |
Loans receivable | 11,475 | 12,152 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 13,446 | 10,537 |
Loans receivable | 13,722 | 10,656 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 153 | 48 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | $ 123 | $ 71 |
Note 8 - Loans - Contractual 75
Note 8 - Loans - Contractual Aging of Nonaccrual Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Nonaccrual loans | $ 8,736 | $ 11,517 |
Non accrual Loans [Member] | ||
Loans current and past due, nonaccrual | 4,199 | 7,100 |
Nonaccrual loans | 8,736 | 11,517 |
Non accrual Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Nonaccrual loans | 419 | 293 |
Non accrual Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Nonaccrual loans | $ 4,118 | $ 4,124 |
Note 8 - Loans - Aging of Troub
Note 8 - Loans - Aging of Troubled Debt Restructurings (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Troubled debt restructurings, current and past due less than 30 days | $ 732,725,000 | $ 690,177,000 |
Nonaccrual loans | 8,736,000 | 11,517,000 |
Troubled debt restructurings | 4,786,000 | |
Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 8,154,000 | 7,350,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 10,956,000 | 7,353,000 |
Troubled Debt Restructuring [Member] | ||
Troubled debt restructurings, current and past due less than 30 days | 5,453,000 | 1,186,000 |
Nonaccrual loans | 2,874,000 | 5,097,000 |
Troubled debt restructurings | 8,677,000 | 6,364,000 |
Troubled Debt Restructuring [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 350,000 | 0 |
Troubled Debt Restructuring [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | $ 0 | $ 81,000 |
Note 8 - Loans - Troubled Debt
Note 8 - Loans - Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Troubled debt restructurings, number of contracts | 5 | 4 | 9 |
Troubled debt restructurings, post-modification recorded investment | $ 2,899 | $ 360 | $ 5,423 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Extended Maturity and Contractual Interest Rate Reduction [Member] | |||
Troubled debt restructurings, number of contracts | 1 | 1 | 1 |
Troubled debt restructurings, post-modification recorded investment | $ 71 | $ 56 | $ 83 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Extended Maturity with Reduced Monthly Payments [Member] | |||
Troubled debt restructurings, number of contracts | 1 | 0 | 0 |
Troubled debt restructurings, post-modification recorded investment | $ 26 | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Interest Payments Only for 1 Year [Member] | |||
Troubled debt restructurings, number of contracts | 0 | 0 | 1 |
Troubled debt restructurings, post-modification recorded investment | $ 0 | $ 0 | $ 34 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Monthly Payment Reduction for 6 Months [Member] | |||
Troubled debt restructurings, number of contracts | 0 | 1 | 1 |
Troubled debt restructurings, post-modification recorded investment | $ 0 | $ 242 | $ 33 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | Interest Rate and Monthly Payment Reduction [Member] | |||
Troubled debt restructurings, number of contracts | 0 | 1 | 0 |
Troubled debt restructurings, post-modification recorded investment | $ 0 | $ 32 | $ 0 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Interest Payments Only for 1 Year [Member] | |||
Troubled debt restructurings, number of contracts | 1 | 0 | 0 |
Troubled debt restructurings, post-modification recorded investment | $ 2,773 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Monthly Payment Reduction [Member] | |||
Troubled debt restructurings, number of contracts | 0 | 0 | 5 |
Troubled debt restructurings, post-modification recorded investment | $ 0 | $ 0 | $ 5,193 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Monthly Payment Reduction [Member] | |||
Troubled debt restructurings, number of contracts | 0 | 0 | 1 |
Troubled debt restructurings, post-modification recorded investment | $ 0 | $ 0 | $ 80 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Extended Maturity [Member] | |||
Troubled debt restructurings, number of contracts | 1 | 0 | 0 |
Troubled debt restructurings, post-modification recorded investment | $ 5 | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | Interest Rate and Monthly Payment Reduction [Member] | |||
Troubled debt restructurings, number of contracts | 0 | 1 | 0 |
Troubled debt restructurings, post-modification recorded investment | $ 0 | $ 30 | $ 0 |
Consumer Portfolio Segment [Member] | New Unsecured Loan after Short-fall from Sale of Property [Member] | |||
Troubled debt restructurings, number of contracts | 1 | 0 | 0 |
Troubled debt restructurings, post-modification recorded investment | $ 24 | $ 0 | $ 0 |
Note 8 - Loans - Defaults on Lo
Note 8 - Loans - Defaults on Loans with Previous Modifications (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Troubled debt restructuring defaults, number of contracts | 5 | 1 | 11 |
Troubled debt restructuring defaults, recorded investment | $ 355 | $ 32 | $ 1,276 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | |||
Troubled debt restructuring defaults, number of contracts | 2 | 1 | 3 |
Troubled debt restructuring defaults, recorded investment | $ 294 | $ 32 | $ 257 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | |||
Troubled debt restructuring defaults, number of contracts | 1 | 0 | 1 |
Troubled debt restructuring defaults, recorded investment | $ 29 | $ 0 | $ 62 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Troubled debt restructuring defaults, number of contracts | 0 | 0 | 1 |
Troubled debt restructuring defaults, recorded investment | $ 0 | $ 0 | $ 429 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Troubled debt restructuring defaults, number of contracts | 1 | 0 | 0 |
Troubled debt restructuring defaults, recorded investment | $ 5 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||
Troubled debt restructuring defaults, number of contracts | 0 | 0 | 1 |
Troubled debt restructuring defaults, recorded investment | $ 0 | $ 0 | $ 25 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | |||
Troubled debt restructuring defaults, number of contracts | 0 | 0 | 4 |
Troubled debt restructuring defaults, recorded investment | $ 0 | $ 0 | $ 490 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Troubled debt restructuring defaults, number of contracts | 0 | 0 | 1 |
Troubled debt restructuring defaults, recorded investment | $ 0 | $ 0 | $ 13 |
Consumer Portfolio Segment [Member] | |||
Troubled debt restructuring defaults, number of contracts | 1 | 0 | 0 |
Troubled debt restructuring defaults, recorded investment | $ 27 | $ 0 | $ 0 |
Note 8 - Loans - Foreclosed Res
Note 8 - Loans - Foreclosed Residential Real Estate (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Residential Portfolio Segment [Member] | ||
Foreclosed residential real estate | $ 1,102 | $ 555 |
Note 8 - Loans - Mortgage Loans
Note 8 - Loans - Mortgage Loans in Process of Foreclosure (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Residential Portfolio Segment [Member] | ||
Residential real estate in process of foreclosure | $ 2,738 | $ 1,173 |
Note 9 - Bank Premises and Eq81
Note 9 - Bank Premises and Equipment - Summary of Bank Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, plant and equipment | $ 49,570 | $ 48,075 |
Less: accumulated depreciation | (34,173) | (32,669) |
Net | 15,397 | 15,406 |
Land [Member] | ||
Property, plant and equipment | 2,818 | 2,818 |
Building and Building Improvements [Member] | ||
Property, plant and equipment | 27,619 | 27,092 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment | 18,741 | 17,922 |
Construction in Progress [Member] | ||
Property, plant and equipment | $ 392 | $ 243 |
Note 9 - Bank Premises and Eq82
Note 9 - Bank Premises and Equipment - Depreciation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Depreciation expense | $ 1,589 | $ 1,888 | $ 1,940 |
Occupancy Expense [Member] | |||
Depreciation expense | 804 | 954 | 998 |
Furniture and Fixtures Expense [Member] | |||
Depreciation expense | $ 785 | $ 934 | $ 942 |
Note 10 - Intangible Assets (De
Note 10 - Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill, Period Increase (Decrease) | $ 0 | $ 0 | |
Goodwill | 11,942,000 | ||
Goodwill, Acquired During Period | 0 | 0 | |
Goodwill, Impairment Loss | 0 | ||
Amortization of Intangible Assets | $ 13,000 | $ 22,000 | $ 35,000 |
Note 10 - Intangible Assets - C
Note 10 - Intangible Assets - Core Deposit Intangibles (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Gross amount | $ 2,034 | $ 2,034 |
Less: accumulated amortization | (2,017) | (2,004) |
Net | $ 17 | $ 30 |
Note 11 - Deposits (Details Tex
Note 11 - Deposits (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest Expense, Time Deposits, $100,000 or More | $ 524,000 | $ 482,000 | $ 563,000 |
Time Deposits, at or Above FDIC Insurance Limit | $ 7,929,000 | $ 6,531,000 |
Note 11 - Deposits - Scheduled
Note 11 - Deposits - Scheduled Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 113,974 |
2,018 | 51,526 |
2,019 | 25,302 |
2,020 | 14,458 |
2,021 | 6,710 |
Thereafter | 248 |
Total | $ 212,218 |
Note 11 - Deposits - Remaining
Note 11 - Deposits - Remaining Maturities of Time Deposits In Excess of $100,000 (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Three months or less | $ 32,987 |
Over 3 months through 12 months | 11,663 |
Over 1 year through 3 years | 11,508 |
Over 3 years | 7,605 |
Total | $ 63,763 |
Note 12 - Borrowed Funds (Detai
Note 12 - Borrowed Funds (Details Textual) | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Jan. 01, 2016USD ($) | Jan. 01, 2015USD ($) | |
Short-term Debt, Weighted Average Interest Rate | 0.60% | 0.61% | 0.60% | ||||||
Line of Credit Facility, Maximum Month-end Outstanding Amount | $ 47,005,000 | $ 53,496,000 | $ 7,919,000 | ||||||
Available-for-sale Securities Pledged as Collateral | $ 228,616,000 | 230,803,000 | 228,616,000 | ||||||
Short-term Debt | 53,496,000 | 26,175,000 | 53,496,000 | ||||||
Carrying Value of Securities Sold under Repurchase Agreements and Deposits Received for Securities Loaned | 12,613,000 | 15,019,000 | 12,613,000 | ||||||
Gain (Loss) on Extinguishment of Debt | (1,663,000) | $ 0 | $ (910,000) | $ 0 | 0 | (2,573,000) | 0 | ||
Repayments of Long-term Debt | 313,000 | 36,866,000 | $ 278,000 | ||||||
Securities Sold under Agreements to Repurchase, Asset | $ 33,780,000 | $ 31,494,000 | $ 33,780,000 | ||||||
Repurchase Agreements [Member] | |||||||||
Debt, Weighted Average Interest Rate | 3.99% | 3.60% | 3.99% | 4.02% | |||||
Short-term Debt, Average Outstanding Amount | $ 27,000,000 | $ 54,304,000 | $ 61,000,000 | ||||||
Repurchase Agreement Maturing in 2017 with a Rate of 3.595% [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.595% | ||||||||
Repurchase Agreement Maturing in 2017 with a Rate of 4.265% [Member] | |||||||||
Gain (Loss) on Extinguishment of Debt | (2,573,000) | ||||||||
Repayments of Long-term Debt | $ 34,000,000 | ||||||||
Prepaid Debt, Weighted Average Interest Rate | 4.265% | 4.265% | |||||||
Maximum [Member] | |||||||||
Securities Sold under Agreements to Repurchase, Asset | $ 61,000,000 | $ 27,000,000 | $ 61,000,000 | $ 61,000,000 | |||||
Securities Sold under Agreements to Repurchase [Member] | |||||||||
Short-term Debt | $ 4,915,000 | $ 5,175,000 | $ 4,915,000 | ||||||
Debt, Weighted Average Interest Rate | 0.10% | 0.10% | 0.10% | ||||||
Federal Home Loan Bank of Pittsburgh [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 322,709,000 | $ 339,221,000 | $ 322,709,000 | ||||||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 450,883,000 | 471,454,000 | 450,883,000 | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | 262,361,000 | 306,767,000 | 262,361,000 | ||||||
Short-term Debt | 48,581,000 | 21,000,000 | 48,581,000 | ||||||
Federal Home Loan Bank of Pittsburgh [Member] | Overnight Borrowing [Member] | |||||||||
Short-term Debt | $ 23,500,000 | $ 21,000,000 | $ 23,500,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.43% | 0.74% | 0.43% | ||||||
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances [Member] | |||||||||
Short-term Debt, Weighted Average Interest Rate | 0.86% | 0.86% | |||||||
Short-term Debt | $ 48,581,000 | $ 21,000,000 | $ 48,581,000 | ||||||
Number of Short-term Advances | 12 | 12 | |||||||
Short-term Borrowing, Amount of Each Borrowing | $ 2,090,000 | $ 2,090,000 | |||||||
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances [Member] | Minimum [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.54% | 0.54% | |||||||
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances [Member] | Maximum [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.052% | 1.052% | |||||||
Federal Home Loan Bank of Pittsburgh [Member] | Other Assets [Member] | |||||||||
Federal Home Loan Bank Stock | $ 4,527,000 | 4,296,000 | $ 4,527,000 | ||||||
Other Correspondent Banks [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 45,000,000 | 45,000,000 | 45,000,000 | ||||||
Long-term Line of Credit | $ 0 | $ 0 | |||||||
Federal Reserve Bank of Philadelphia [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 19,606,000 | 15,636,000 | 19,606,000 | ||||||
Long-term Line of Credit | 0 | 0 | 0 | ||||||
Available-for-sale Securities Pledged as Collateral | $ 20,039,000 | $ 17,690,000 | $ 20,039,000 |
Note 12 - Borrowed Funds - Shor
Note 12 - Borrowed Funds - Short-term Borrowings (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Short-term borrowings | $ 26,175,000 | $ 53,496,000 |
Securities Sold under Agreements to Repurchase [Member] | ||
Short-term borrowings | 5,175,000 | 4,915,000 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Short-term borrowings | 21,000,000 | 48,581,000 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances [Member] | ||
Short-term borrowings | 21,000,000 | 48,581,000 |
Federal Home Loan Bank of Pittsburgh [Member] | Overnight Borrowing [Member] | ||
Short-term borrowings | 21,000,000 | 23,500,000 |
Federal Home Loan Bank of Pittsburgh [Member] | Other Short-term Debt [Member] | ||
Short-term borrowings | $ 0 | $ 25,081,000 |
Note 12 - Borrowed Funds - Long
Note 12 - Borrowed Funds - Long-term Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Long-term borrowings | $ 38,454 | $ 38,767 |
Repurchase Agreements [Member] | ||
Long-term borrowings | 27,000 | 27,000 |
Federal Home Loan Bank Advances [Member] | ||
Long-term borrowings | $ 11,454 | $ 11,767 |
Note 12 - Borrowed Funds - Lo91
Note 12 - Borrowed Funds - Long-term Borrowing Maturities (Details) - Federal Home Loan Bank of Pittsburgh [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Long-term borrowings from FHLB - Pittsburgh | $ 11,454 | $ 11,767 |
Federal Home Loan Bank Borrowings Loan Maturing in 2016 with Rate of 6.86% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | 0 | 57 |
Federal Home Loan Bank Borrowings Loan Maturing in 2017 With Rate of 6.83% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | 4 | 10 |
Federal Home Loan Bank Borrowings Loan Maturing in 2017 with Rate of 3.81% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | 10,000 | 10,000 |
Federal Home Loan Bank Borrowings Loan Maturing in 2020 with Rate of 4.79% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | 646 | 821 |
Federal Home Loan Bank Borrowings Loan Maturing in 2025 with Rate of 4.91% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | $ 804 | $ 879 |
Note 12 - Borrowed Funds - Lo92
Note 12 - Borrowed Funds - Long-term Borrowing Maturities (Details) (Parentheticals) - Federal Home Loan Bank of Pittsburgh [Member] | Dec. 31, 2016Rate | Dec. 31, 2015Rate |
Federal Home Loan Bank Borrowings Loan Maturing in 2016 with Rate of 6.86% [Member] | ||
Rate (Rate) | 6.86% | 6.86% |
Federal Home Loan Bank Borrowings Loan Maturing in 2017 With Rate of 6.83% [Member] | ||
Rate (Rate) | 6.83% | 6.83% |
Federal Home Loan Bank Borrowings Loan Maturing in 2017 with Rate of 3.81% [Member] | ||
Rate (Rate) | 3.81% | 3.81% |
Federal Home Loan Bank Borrowings Loan Maturing in 2020 with Rate of 4.79% [Member] | ||
Rate (Rate) | 4.79% | 4.79% |
Federal Home Loan Bank Borrowings Loan Maturing in 2025 with Rate of 4.91% [Member] | ||
Rate (Rate) | 4.91% | 4.91% |
Note 12 - Borrowed Funds - Unde
Note 12 - Borrowed Funds - Underlying Securities (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Securities Sold under Agreements to Repurchase, Asset | $ 31,494,000 | $ 33,780,000 |
Residential Pass-Through Securities [Member] | ||
Securities Sold under Agreements to Repurchase, Asset | 18,181,000 | 15,772,000 |
Collateralized Mortgage Obligations [Member] | ||
Securities Sold under Agreements to Repurchase, Asset | $ 13,313,000 | $ 18,008,000 |
Note 13 - Employee and Postre94
Note 13 - Employee and Postretirement Benefit Plans (Details Textual) | 1 Months Ended | 12 Months Ended | |||||
Jan. 31, 2017shares | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($) | Jan. 01, 2016USD ($) | Dec. 03, 2015USD ($) | |
Pension Contributions | $ 646,000 | $ 609,000 | $ 595,000 | ||||
Employee Stock Ownership Plan (ESOP), Diversification Feature, Age Requirement | 55 | ||||||
Deferred Compensation Arrangement with Individual, Requisite Service Period | 10 years | ||||||
Employee Stock Ownership Plan (ESOP), Diversification Feature Percentage | 50.00% | ||||||
Employee Stock Ownership Plan (ESOP), Policy Diversification Feature Term | 6 years | ||||||
Employee Stock Ownership Plan (ESOP), Shares in ESOP | shares | 417,753 | 410,004 | |||||
Employee Stock Ownership Plan (ESOP), Cash Contributions to ESOP | $ 549,000 | $ 522,000 | 512,000 | ||||
Pension and Other Postretirement Benefit Expense | $ 4,717,000 | 4,420,000 | 4,769,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 1,540,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 183,000 | 77,000 | 90,000 | ||||
Allocated Share-based Compensation Expense | 578,000 | 606,000 | 565,000 | ||||
Estimated Minimum Contribution to Defined Benefit Pension Plan | $ 0 | ||||||
Scenario, Forecast [Member] | |||||||
Allocated Share-based Compensation Expense | $ 652,000 | ||||||
Minimum [Member] | |||||||
Performance Conditions on Return on Average Equity, Peer Group, Total Assets | 750,000,000 | $ 750,000,000 | |||||
Maximum [Member] | |||||||
Performance Conditions on Return on Average Equity, Peer Group, Total Assets | 3,500,000,000 | $ 2,000,000,000 | |||||
Employee Stock Option [Member] | |||||||
Allocated Share-based Compensation Expense | 0 | 0 | 153,000 | ||||
Restricted Stock [Member] | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 662,000 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 146 days | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 35,427 | ||||||
Allocated Share-based Compensation Expense | $ 578,000 | $ 606,000 | 412,000 | ||||
Stock Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 850,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares | 280,682 | ||||||
Stock Incentive Plan [Member] | Employee Stock Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 180 days | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 27,593 | ||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Subsequent Event [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 22,312 | ||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Vesting Contingent Upon ROAE Performance Ratio [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||
Share Based Compensation Arrangement by Share Based Payment Award Contingent Vesting Shares | shares | 20,298 | ||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Vesting Contingent upon Corporation Meeting ROAE Performance Ratio [Member] | Subsequent Event [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Executive Officer [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 17,289 | ||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Executive Officer [Member] | Subsequent Event [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 14,897 | ||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Other Employees [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 10,304 | ||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Employees [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 2,198 | ||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Chief Executive Officer [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 5,174 | ||||||
Independent Directors Stock Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 135,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares | 21,868 | ||||||
Independent Directors Stock Incentive Plan [Member] | Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | 1 year | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 7,834 | 7,130 | |||||
Independent Directors Stock Incentive Plan [Member] | Restricted Stock [Member] | Subsequent Event [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 8,470 | ||||||
Equity Securities [Member] | |||||||
Defined Benefit Plan, Target Plan Asset Allocations | 44.00% | 46.00% | |||||
Debt Securities [Member] | |||||||
Defined Benefit Plan, Target Plan Asset Allocations | 38.00% | 38.00% | |||||
Alternative Funds [Member] | |||||||
Defined Benefit Plan, Target Plan Asset Allocations | 16.00% | 14.00% | |||||
Cash [Member] | |||||||
Defined Benefit Plan, Target Plan Asset Allocations | 2.00% | 2.00% | |||||
Pension Plan [Member] | |||||||
Defined Benefit Plan, Future Amortization of Gain (Loss) | $ (7,000) | ||||||
Defined Benefit Plan, Accumulated Benefit Obligation | 713,000 | $ 722,000 | |||||
Defined Benefit Plan, Settlements, Benefit Obligation | 0 | $ 337,000 | $ 781,000 | ||||
Defined Benefit Plan, Benefits Paid Percentage of Benefit Obligation | 32.00% | 42.00% | |||||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 0 | $ (87,000) | $ (196,000) | ||||
Other Postretirement Benefit Plan [Member] | |||||||
Defined Benefit Plan, Future Amortization of Gain (Loss) | 0 | ||||||
Defined Benefit Plan, Future Amortization of Prior Service Cost (Credit) | 31,000 | ||||||
Defined Benefit Plan, Settlements, Benefit Obligation | 0 | 0 | |||||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 0 | 0 | 0 | ||||
Supplemental Employee Retirement Plan [Member] | |||||||
Pension and Other Postretirement Benefit Expense | $ 184,000 | $ 167,000 | $ 138,000 |
Note 13 - Employee and Postre95
Note 13 - Employee and Postretirement Benefit Plans - Funded Status of Defined Benefit Plans (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Pension Plan [Member] | |||
Benefit obligation at beginning of year | $ 722,000 | $ 1,085,000 | |
Service cost | 0 | 0 | $ 0 |
Interest cost | 26,000 | 36,000 | 73,000 |
Plan participants' contributions | 0 | 0 | |
Actuarial loss (gain) | 3,000 | (46,000) | |
Benefits paid | (38,000) | (16,000) | |
Settlement of plan obligation | 0 | (337,000) | (781,000) |
Benefit obligation at end of year | 713,000 | 722,000 | 1,085,000 |
Fair value of plan assets at beginning of year | 839,000 | 1,208,000 | |
Actual return on plan assets | 45,000 | (16,000) | |
Employer contribution | 0 | 0 | |
Plan participants' contributions | 0 | 0 | |
Benefits paid | (38,000) | (16,000) | |
Settlement of plan obligation | 0 | (337,000) | |
Fair value of plan assets at end of year | 846,000 | 839,000 | 1,208,000 |
Funded status at end of year | 133,000 | 117,000 | |
Other Postretirement Benefit Plan [Member] | |||
Benefit obligation at beginning of year | 1,539,000 | 1,378,000 | |
Service cost | 37,000 | 38,000 | 34,000 |
Interest cost | 62,000 | 57,000 | 57,000 |
Plan participants' contributions | 215,000 | 203,000 | |
Actuarial loss (gain) | (30,000) | 120,000 | |
Benefits paid | (268,000) | (257,000) | |
Settlement of plan obligation | 0 | 0 | |
Benefit obligation at end of year | 1,555,000 | 1,539,000 | 1,378,000 |
Fair value of plan assets at beginning of year | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Employer contribution | 53,000 | 54,000 | |
Plan participants' contributions | 215,000 | 203,000 | |
Benefits paid | (268,000) | (257,000) | |
Settlement of plan obligation | 0 | 0 | |
Fair value of plan assets at end of year | 0 | 0 | $ 0 |
Funded status at end of year | $ (1,555,000) | $ (1,539,000) |
Note 13 - Employee and Postre96
Note 13 - Employee and Postretirement Benefit Plans - Plan Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Pension Plan [Member] | ||
Other assets | $ 133 | $ 117 |
Accrued interest and other liabilities | ||
Other Postretirement Benefit Plan [Member] | ||
Other assets | ||
Accrued interest and other liabilities | $ 1,555 | $ 1,539 |
Note 13 - Employee and Postre97
Note 13 - Employee and Postretirement Benefit Plans - Items Included in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Pension Plan [Member] | ||
Prior service cost | $ 0 | $ 0 |
Net actuarial loss | 161 | 186 |
Total | 161 | 186 |
Other Postretirement Benefit Plan [Member] | ||
Prior service cost | (340) | (371) |
Net actuarial loss | 101 | 131 |
Total | $ (239) | $ (240) |
Note 13 - Defined Benefit Plans
Note 13 - Defined Benefit Plans - Net Periodic Benefit Costs (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Pension Plan [Member] | |||
Service cost | $ 0 | $ 0 | $ 0 |
Interest cost | 26,000 | 36,000 | 73,000 |
Expected return on plan assets | (26,000) | (45,000) | (88,000) |
Amortization of prior service cost | 0 | 0 | 0 |
Recognized net actuarial loss | 9,000 | 11,000 | 19,000 |
Loss on settlement | 0 | 87,000 | 196,000 |
Total net periodic benefit cost | 9,000 | 89,000 | 200,000 |
Other Postretirement Benefit Plan [Member] | |||
Service cost | 37,000 | 38,000 | 34,000 |
Interest cost | 62,000 | 57,000 | 57,000 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of prior service cost | (31,000) | (31,000) | (31,000) |
Recognized net actuarial loss | 0 | 0 | 0 |
Loss on settlement | 0 | 0 | 0 |
Total net periodic benefit cost | $ 68,000 | $ 64,000 | $ 60,000 |
Note 13 - Employee and Postre99
Note 13 - Employee and Postretirement Benefit Plans - Assumptions Used to Determine Net Periodic Benefit Cost (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Pension Plan [Member] | |||
Discount rate | 4.30% | 3.75% | 4.50% |
Expected return on plan assets | 5.00% | 5.31% | 5.31% |
Discount rate | 4.05% | 4.30% | |
Other Postretirement Benefit Plan [Member] | |||
Discount rate | 4.25% | 4.00% | 4.00% |
Discount rate | 4.25% | 4.25% |
Note 13 - Employee and Postr100
Note 13 - Employee and Postretirement Benefit Plans - Estimated Future Benefit Payments (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Pension Plan [Member] | |
2,017 | $ 222 |
2,018 | 15 |
2,019 | 39 |
2,020 | 12 |
2,021 | 12 |
2022-2026 | 220 |
Other Postretirement Benefit Plan [Member] | |
2,017 | 99 |
2,018 | 103 |
2,019 | 108 |
2,020 | 114 |
2,021 | 114 |
2022-2026 | $ 563 |
Note 13 - Employee and Postr101
Note 13 - Employee and Postretirement Benefit Plans - Fair Values of Pension Plan Assets (Details) | Dec. 31, 2016 | Dec. 31, 2015 |
Fair value of plan assets | 100.00% | 100.00% |
Cash and Cash Equivalents [Member] | ||
Fair value of plan assets | 2.00% | 2.00% |
Debt Securities [Member] | ||
Fair value of plan assets | 38.00% | 38.00% |
Equity Securities [Member] | ||
Fair value of plan assets | 44.00% | 46.00% |
Alternative Funds [Member] | ||
Fair value of plan assets | 16.00% | 14.00% |
Note 13 - Employee and Postr102
Note 13 - Employee and Postretirement Benefit Plans - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Allocated Share-based Compensation Expense | $ 578 | $ 606 | $ 565 |
Restricted Stock [Member] | |||
Allocated Share-based Compensation Expense | 578 | 606 | 412 |
Employee Stock Option [Member] | |||
Allocated Share-based Compensation Expense | $ 0 | $ 0 | $ 153 |
Note 13 - Employee and Postr103
Note 13 - Employee and Postretirement Benefit Plans - Non-vested Stock Options and Restricted Stock Activity (Details) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Outstanding, restricted shares, beginning of year (in shares) | shares | 62,212 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 20.10 |
Granted, restricted shares (in shares) | shares | 35,427 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 20.42 |
Vested, restricted shares (in shares) | shares | (30,846) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 19.90 |
Forfeited, restricted shares (in shares) | shares | (3,431) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 20.41 |
Outstanding, restricted shares, end of year (in shares) | shares | 63,362 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 20.35 |
Note 13 - Employee and Postr104
Note 13 - Employee and Postretirement Benefit Plans - Stock Option Fair Value Assumptions (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Volatility | 39.00% |
Expected option lives (years) (Year) | 8 years |
Risk-free interest rate | 2.85% |
Dividend yield | 4.33% |
Note 13 - Employee and Postr105
Note 13 - Employee and Postretirement Benefit Plans - Stock Option Activity (Details) - $ / shares | 12 Months Ended | |||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Outstanding, beginning of year (in shares) | 248,486 | 316,157 | 358,176 | |||
Outstanding, beginning of year (in dollars per share) | $ 18.59 | $ 19.05 | $ 19.03 | |||
Granted (in shares) | 0 | 0 | 39,027 | |||
Granted (in dollars per share) | $ 20.45 | |||||
Exercised (in shares) | (35,880) | (29,557) | (50,415) | |||
Exercised (in dollars per share) | $ 18.86 | $ 17.56 | $ 17.57 | |||
Forfeited (in shares) | (10,569) | (20,211) | (16,424) | |||
Forfeited (in dollars per share) | $ 18.03 | $ 19.76 | $ 20.03 | |||
Expired (in shares) | 0 | (17,903) | (14,207) | |||
Expired (in dollars per share) | $ 27 | $ 26.59 | ||||
Outstanding, end of year (in shares) | 202,037 | 248,486 | 316,157 | |||
Outstanding, end of year (in dollars per share) | $ 18.58 | $ 18.59 | $ 19.05 | |||
Options exercisable at year-end (in shares) | 248,486 | 248,486 | 316,157 | 202,037 | 248,486 | 316,157 |
Options exercisable at year-end (in dollars per share) | $ 18.58 | $ 18.59 | $ 19.05 | |||
Weighted-average fair value of options granted (in dollars per share) | $ 5.50 | |||||
Weighted-average fair value of options forfeited (in dollars per share) | $ 4.04 | $ 4.86 | $ 4.89 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Credits and Adjustments | $ 158,000 | $ 160,000 | $ 159,000 |
Increase (Decrease) in Income Taxes | (76,000) | (80,000) | $ (83,000) |
Unrecognized Tax Benefits | 0 | ||
Other Assets [Member] | |||
Amortization Method Qualified Affordable Housing Project Investments | $ 713,000 | $ 812,000 |
Note 14 - Income Taxes - Net De
Note 14 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Unrealized holding losses on securities | $ 512 | $ 0 |
Net realized losses on securities | 0 | 69 |
Allowance for loan losses | 2,998 | 2,761 |
Other deferred tax assets | 2,658 | 2,634 |
Total deferred tax assets | 6,168 | 5,464 |
Deferred tax liabilities: | ||
Unrealized holding gains on securities | 0 | 1,342 |
Defined benefit plans - ASC 835 | 27 | 19 |
Bank premises and equipment | 913 | 869 |
Core deposit intangibles | 6 | 11 |
Other deferred tax liabilities | 105 | 108 |
Total deferred tax liabilities | 1,051 | 2,349 |
Deferred tax asset, net | $ 5,117 | $ 3,115 |
Note 14 - Income Taxes - Provis
Note 14 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Currently payable | $ 1,500 | $ 1,451 | $ 1,303 | $ 1,093 | $ 1,261 | $ 1,395 | $ 1,452 | $ 1,229 | $ 5,328 | $ 5,097 | $ 4,280 |
Tax expense resulting from allocations of certain tax benefits to equity or as a reduction in other assets | 175 | 161 | 158 | ||||||||
Deferred | (156) | 79 | 1,254 | ||||||||
Total provision | $ 5,347 | $ 5,337 | $ 5,692 |
Note 14 - Income Taxes - Reconc
Note 14 - Income Taxes - Reconciliation of Income Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Expected provision | $ 7,388 | $ 7,633 | $ 7,972 |
Expected provision, percentage | 35.00% | 35.00% | 35.00% |
Tax-exempt interest income | $ (1,801) | $ (1,914) | $ (1,982) |
Tax-exempt interest income, percentage | (8.53%) | (8.78%) | (8.70%) |
Nondeductible interest expense | $ 40 | $ 51 | $ 56 |
Nondeductible interest expense, percentage | 0.19% | 0.23% | 0.25% |
Dividends received deduction | $ (22) | $ (75) | $ (79) |
Dividends received deduction, percentage | (0.10%) | (0.34%) | (0.35%) |
Increase in cash surrender value of life insurance | $ (134) | $ (135) | $ (132) |
Increase in cash surrender value of life insurance, percentage | (0.63%) | (0.62%) | (0.58%) |
Employee stock option compensation | $ 0 | $ 0 | $ 41 |
Employee stock option compensation, percentage | 0.00% | 0.00% | 0.18% |
Tax benefit from limited partnership investment | $ (76) | $ (80) | $ (83) |
Tax benefit from limited partnership investment, percentage | (0.36%) | (0.37%) | (0.36%) |
Other, net | $ (48) | $ (143) | $ (101) |
Other, net, percentage | (0.23%) | (0.66%) | (0.44%) |
Effective income tax provision | $ 5,347 | $ 5,337 | $ 5,692 |
Effective income tax provision, percentage | 25.33% | 24.47% | 24.99% |
Note 15 - Related Party Tran110
Note 15 - Related Party Transactions (Details Textual) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Related Party Deposit Liabilities | $ 2,899,000 | $ 3,194,000 |
Note 15 - Related Party Tran111
Note 15 - Related Party Transactions - Related Party Loans (Details) - Management [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Beginning Balance | $ 10,246 | $ 12,023 | $ 12,547 |
New Loans | 307 | 52 | 188 |
Repayments | (1,160) | (808) | (1,358) |
Other Changes | 2,021 | (1,021) | 646 |
Ending Balance | $ 11,414 | $ 10,246 | $ 12,023 |
Note 16 - Off-balance Sheet 112
Note 16 - Off-balance Sheet Risk (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Letters of Credit Outstanding, Amount | $ 0 | $ 0 |
Note 16 - Off-balance Sheet 113
Note 16 - Off-balance Sheet Risk - Financial Instruments Whose Contract Amounts Represent Credit Risk (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Standby Letters of Credit [Member] | ||
Credit risk financial instrument | $ 9,025 | $ 13,340 |
Commitments to Extend Credit [Member] | ||
Credit risk financial instrument | $ 180,768 | $ 156,407 |
Note 16 - Off-balance Sheet 114
Note 16 - Off-balance Sheet Risk - Standby Letters of Credit Expirations (Details) - Standby Letters of Credit [Member] $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 7,612 |
2,018 | 387 |
2,019 | 193 |
2,020 | 64 |
2,021 | 0 |
Thereafter | 769 |
Total | $ 9,025 |
Note 18 - Regulatory Matters (D
Note 18 - Regulatory Matters (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2016 |
Common Equity Tier One Capital Conservation Buffer Required for Capital Adequacy to Risk Weighted Assets | 0.625% | |
Capital Conservation Buffer | 15.60% | |
Retained Earnings, Unappropriated | $ 87,631,000 | |
Tangible Capital to Tangible Assets | 10.00% | |
Tangible Capital | $ 15,404,000 | |
Citizens and Northern Bank [Member] | ||
Capital Conservation Buffer | 13.03% | |
Scenario, Forecast [Member] | ||
Common Equity Tier One Capital Conservation Buffer Required for Capital Adequacy to Risk Weighted Assets | 2.50% |
Note 18 - Regulatory Matters -
Note 18 - Regulatory Matters - Capital Amounts and Ratios (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Total capital to risk-weighted assets - actual amount | $ 183,597 | $ 181,216 |
Total capital to risk-weighted assets - actual ratio | 23.60% | 24.40% |
Total capital to risk-weighted assets - minimum capital requirement amount | $ 62,245 | $ 59,424 |
Minimum total capital ratio | 8.00% | 8.00% |
Total capital to risk-weighted assets - minimum capital requirement with conservation buffer amount | $ 67,108 | |
Total capital to risk-weighted assets - minimum capital requirement with conservation buffer ratio | 8.625% | |
Total capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions amount | $ 77,806 | $ 74,281 |
Total capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions ratio | 10.00% | 10.00% |
Total capital to risk-weighted assets - minimum to meet the corporation's policy thresholds amount | $ 81,697 | $ 77,995 |
Total capital to risk-weighted assets - minimum to meet the corporation's policy thresholds ratio | 10.50% | 10.50% |
Tier 1 capital to risk-weighted assets - actual amount | $ 174,928 | $ 173,009 |
Tier 1 capital to risk-weighted assets - actual ratio | 22.48% | 23.29% |
Tier 1 capital to risk-weighted assets - minimum capital requirement amount | $ 31,122 | $ 29,712 |
Minimum tier 1 capital ratio | 6.00% | 6.00% |
Tier 1 captial to risk-weighted assets - minimum capital requirement with conservation buffer amount | $ 51,547 | |
Tier 1 capital to risk-weighted assets - minimum capital requirement with conservation buffer ratio | 6.625% | |
Tier 1 capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions amount | $ 62,245 | $ 59,424 |
Tier 1 capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets - minimum to meet the corporation's policy thresholds amount | $ 66,135 | $ 63,139 |
Tier 1 capital to risk-weighted assets - minimum to meet the corporation's policy thresholds ratio | 8.50% | 8.50% |
Common equity Tier 1 - amount | $ 174,928 | $ 173,009 |
Common equity Tier 1 - ratio | 22.48% | 23.29% |
Common equity Tier 1 - minimum capital requirement amount | $ 31,122 | $ 29,712 |
Minimum common equity tier 1 capital ratio | 4.50% | 4.50% |
Common equity Tier 1 - capital conservation buffer amount | $ 39,876 | |
Common equity Tier 1 - capital conservation buffer ratio | 5.125% | |
Common equity Tier 1 - minimum to be well capitalized under prompt corrective action provisions amount | $ 50,574 | $ 48,282 |
Common equity Tier 1 - minimum to be well capitalized under prompt corrective action provisions ratio | 6.50% | 6.50% |
Common equity Tier 1 - minimum to meet the corporation's policy thresholds amount | $ 54,464 | $ 51,996 |
Common equity Tier 1 - minimum to meet the corporation's policy thresholds ratio | 7.00% | 7.00% |
Tier 1 capital average - amount | $ 174,928 | $ 173,009 |
Tier 1 capital average - ratio | 14.27% | 14.31% |
Tier 1 capital average - minimum capital amount | $ 49,026 | $ 48,355 |
Tier 1 capital average - minimum capital ratio | 4.00% | 4.00% |
Tier 1 capital average - minimum to be well capitalized amount | $ 61,282 | $ 60,444 |
Tier 1 capital average - minimum to be well capitalized ratio | 5.00% | 5.00% |
Tier 1 capital average - minimum to meet the corporation's policy threshold amount | $ 61,282 | $ 60,444 |
Tier 1 capital average - minimum to meet the corporation's policy threshold ratio | 5.00% | 5.00% |
Citizens and Northern Bank [Member] | ||
Total capital to risk-weighted assets - actual amount | $ 162,705 | $ 161,187 |
Total capital to risk-weighted assets - actual ratio | 21.03% | 21.83% |
Total capital to risk-weighted assets - minimum capital requirement amount | $ 61,894 | $ 59,058 |
Minimum total capital ratio | 8.00% | 8.00% |
Total capital to risk-weighted assets - minimum capital requirement with conservation buffer amount | $ 66,730 | |
Total capital to risk-weighted assets - minimum capital requirement with conservation buffer ratio | 8.625% | |
Total capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions amount | $ 77,368 | $ 73,823 |
Total capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions ratio | 10.00% | 10.00% |
Total capital to risk-weighted assets - minimum to meet the corporation's policy thresholds amount | $ 81,236 | $ 77,514 |
Total capital to risk-weighted assets - minimum to meet the corporation's policy thresholds ratio | 10.50% | 10.50% |
Tier 1 capital to risk-weighted assets - actual amount | $ 154,036 | $ 153,298 |
Tier 1 capital to risk-weighted assets - actual ratio | 19.91% | 20.77% |
Tier 1 capital to risk-weighted assets - minimum capital requirement amount | $ 30,947 | $ 29,529 |
Minimum tier 1 capital ratio | 6.00% | 6.00% |
Tier 1 captial to risk-weighted assets - minimum capital requirement with conservation buffer amount | $ 51,256 | |
Tier 1 capital to risk-weighted assets - minimum capital requirement with conservation buffer ratio | 6.625% | |
Tier 1 capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions amount | $ 61,894 | $ 59,058 |
Tier 1 capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets - minimum to meet the corporation's policy thresholds amount | $ 65,762 | $ 62,749 |
Tier 1 capital to risk-weighted assets - minimum to meet the corporation's policy thresholds ratio | 8.50% | 8.50% |
Common equity Tier 1 - amount | $ 154,036 | $ 153,298 |
Common equity Tier 1 - ratio | 19.91% | 20.77% |
Common equity Tier 1 - minimum capital requirement amount | $ 30,947 | $ 29,529 |
Minimum common equity tier 1 capital ratio | 4.50% | 4.50% |
Common equity Tier 1 - capital conservation buffer amount | $ 39,651 | |
Common equity Tier 1 - capital conservation buffer ratio | 5.125% | |
Common equity Tier 1 - minimum to be well capitalized under prompt corrective action provisions amount | $ 50,289 | $ 47,985 |
Common equity Tier 1 - minimum to be well capitalized under prompt corrective action provisions ratio | 6.50% | 6.50% |
Common equity Tier 1 - minimum to meet the corporation's policy thresholds amount | $ 54,157 | $ 51,676 |
Common equity Tier 1 - minimum to meet the corporation's policy thresholds ratio | 7.00% | 7.00% |
Tier 1 capital average - amount | $ 154,036 | $ 153,298 |
Tier 1 capital average - ratio | 12.73% | 12.81% |
Tier 1 capital average - minimum capital amount | $ 48,404 | $ 47,861 |
Tier 1 capital average - minimum capital ratio | 4.00% | 4.00% |
Tier 1 capital average - minimum to be well capitalized amount | $ 60,506 | $ 59,826 |
Tier 1 capital average - minimum to be well capitalized ratio | 5.00% | 5.00% |
Tier 1 capital average - minimum to meet the corporation's policy threshold amount | $ 60,506 | $ 59,826 |
Tier 1 capital average - minimum to meet the corporation's policy threshold ratio | 5.00% | 5.00% |
Note 18 - Regulatory Matters117
Note 18 - Regulatory Matters - Transition Schedule for New Ratios, Including the Capital Conservation Buffer (Details) | Dec. 31, 2016 | Dec. 31, 2015 |
Minimum common equity tier 1 capital ratio | 4.50% | 4.50% |
Common equity tier 1 capital conservation buffer | 0.625% | |
Minimum common equity tier 1 capital ratio plus capital conservation buffer | 5.125% | 4.50% |
Phase-in of most deductions from common equity tier 1 capital | 60.00% | 40.00% |
Minimum tier 1 capital ratio | 6.00% | 6.00% |
Minimum tier 1 capital ratio plus capital conservation buffer | 6.625% | |
Minimum total capital ratio | 8.00% | 8.00% |
Minimum total capital ratio plus capital conservation buffer | 8.625% | |
Phased in Beginning 2017 [Member] | ||
Minimum common equity tier 1 capital ratio | 4.50% | |
Common equity tier 1 capital conservation buffer | 1.25% | |
Minimum common equity tier 1 capital ratio plus capital conservation buffer | 5.75% | |
Phase-in of most deductions from common equity tier 1 capital | 80.00% | |
Minimum tier 1 capital ratio | 6.00% | |
Minimum tier 1 capital ratio plus capital conservation buffer | 7.25% | |
Minimum total capital ratio | 8.00% | |
Minimum total capital ratio plus capital conservation buffer | 9.25% | |
Phased in Beginning 2018 [Member] | ||
Minimum common equity tier 1 capital ratio | 4.50% | |
Common equity tier 1 capital conservation buffer | 1.875% | |
Minimum common equity tier 1 capital ratio plus capital conservation buffer | 6.375% | |
Phase-in of most deductions from common equity tier 1 capital | 100.00% | |
Minimum tier 1 capital ratio | 6.00% | |
Minimum tier 1 capital ratio plus capital conservation buffer | 7.875% | |
Minimum total capital ratio | 8.00% | |
Minimum total capital ratio plus capital conservation buffer | 9.875% | |
Phased in Beginning 2019 [Member] | ||
Minimum common equity tier 1 capital ratio | 4.50% | |
Common equity tier 1 capital conservation buffer | 2.50% | |
Minimum common equity tier 1 capital ratio plus capital conservation buffer | 7.00% | |
Phase-in of most deductions from common equity tier 1 capital | 100.00% | |
Minimum tier 1 capital ratio | 6.00% | |
Minimum tier 1 capital ratio plus capital conservation buffer | 8.50% | |
Minimum total capital ratio | 8.00% | |
Minimum total capital ratio plus capital conservation buffer | 10.50% |
Note 18 - Regulatory Matters118
Note 18 - Regulatory Matters - Payout Restrictions Based on the Capital Conservation Buffer (Details) | Dec. 31, 2016 |
Range One [Member] | |
Maximum Payout | 60.00% |
Range Two [Member] | |
Maximum Payout | 40.00% |
Range Three [Member] | |
Maximum Payout | 20.00% |
Range Four [Member] | |
Maximum Payout | 0.00% |
Note 18 - Regulatory Matters119
Note 18 - Regulatory Matters - Payout Restrictions Based on the Capital Conservation Buffer (Details) (Parentheticals) | Dec. 31, 2016 |
Range One [Member] | |
Capital conservation buffer, high | 2.50% |
Capital conservation buffer, low | 1.875% |
Range Two [Member] | |
Capital conservation buffer, high | 1.875% |
Capital conservation buffer, low | 1.25% |
Range Three [Member] | |
Capital conservation buffer, high | 1.25% |
Capital conservation buffer, low | 0.625% |
Range Four [Member] | |
Capital conservation buffer, high | 0.625% |
Capital conservation buffer, low | 0.00% |
Note 19 - Parent Company Only -
Note 19 - Parent Company Only - Condensed Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Other assets | $ 13,282 | $ 13,510 |
TOTAL ASSETS | 1,242,292 | 1,223,417 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Other liabilities | 7,812 | 8,052 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 1,242,292 | 1,223,417 |
Parent Company [Member] | ||
ASSETS | ||
Cash | 6,033 | 5,847 |
Other assets | 4 | 24 |
TOTAL ASSETS | 186,021 | 187,506 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Other liabilities | 13 | 19 |
Stockholders' equity | 186,008 | 187,487 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 186,021 | 187,506 |
Parent Company [Member] | Citizens and Northern Bank [Member] | ||
ASSETS | ||
Equity method investment | 165,397 | 167,277 |
Parent Company [Member] | Citizens and Northern Investment Corporation [Member] | ||
ASSETS | ||
Equity method investment | 11,168 | 10,966 |
Parent Company [Member] | Bucktail Life Insurance Company [Member] | ||
ASSETS | ||
Equity method investment | $ 3,419 | $ 3,392 |
Note 19 - Parent Company Onl121
Note 19 - Parent Company Only - Condensed Income Statement (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Dividends from Citizens & Northern Bank | $ 70 | $ 284 | $ 307 | ||||||||
Income before equity in undistributed income of subsidiaries | $ 5,731 | $ 5,538 | $ 5,174 | $ 4,666 | $ 5,326 | $ 5,629 | $ 5,809 | $ 5,044 | 21,109 | 21,808 | 22,778 |
NET INCOME | $ 4,231 | $ 4,087 | $ 3,871 | $ 3,573 | $ 4,065 | $ 4,234 | $ 4,357 | $ 3,815 | 15,762 | 16,471 | 17,086 |
Parent Company [Member] | |||||||||||
Dividends from Citizens & Northern Bank | 14,960 | 11,569 | 22,608 | ||||||||
Expenses | (367) | (234) | (112) | ||||||||
Income before equity in undistributed income of subsidiaries | 14,593 | 11,335 | 22,496 | ||||||||
Equity in undistributed income of subsidiaries | 1,169 | 5,136 | (5,410) | ||||||||
NET INCOME | $ 15,762 | $ 16,471 | $ 17,086 |
Note 19 - Parent Company Onl122
Note 19 - Parent Company Only - Condensed Statement of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income | $ 4,231 | $ 4,087 | $ 3,871 | $ 3,573 | $ 4,065 | $ 4,234 | $ 4,357 | $ 3,815 | $ 15,762 | $ 16,471 | $ 17,086 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
(Increase) decrease in accrued interest receivable and other assets | (410) | (1,697) | 1,395 | ||||||||
(Decrease) increase in accrued interest payable and other liabilities | (216) | 1,195 | (90) | ||||||||
Net Cash Provided by Operating Activities | 18,510 | 19,686 | 22,281 | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Tax benefit from compensation plans, net | 175 | 159 | 157 | ||||||||
Purchase of treasury stock | (3,723) | (4,415) | (4,002) | ||||||||
Common dividends paid | (11,112) | (11,245) | (11,392) | ||||||||
Net Cash Used in Financing Activities | 6,197 | (36,401) | (19,767) | ||||||||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (4,692) | 1,694 | (6,972) | ||||||||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 33,313 | 31,619 | 33,313 | 31,619 | 38,591 | ||||||
CASH AND CASH EQUIVALENTS, END OF YEAR | 28,621 | 33,313 | 28,621 | 33,313 | 31,619 | ||||||
Parent Company [Member] | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income | 15,762 | 16,471 | 17,086 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed net income of subsidiaries | (1,169) | (5,136) | 5,410 | ||||||||
(Increase) decrease in accrued interest receivable and other assets | 20 | 12 | (36) | ||||||||
(Decrease) increase in accrued interest payable and other liabilities | (6) | 12 | 1 | ||||||||
Net Cash Provided by Operating Activities | 14,607 | 11,359 | 22,461 | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Proceeds from sale of treasury stock | 263 | 381 | 123 | ||||||||
Tax benefit from compensation plans, net | 151 | 143 | 137 | ||||||||
Purchase of treasury stock | (3,723) | (4,415) | (4,002) | ||||||||
Common dividends paid | (11,112) | (11,245) | (11,392) | ||||||||
Net Cash Used in Financing Activities | (14,421) | (15,136) | (15,134) | ||||||||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 186 | (3,777) | 7,327 | ||||||||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | $ 5,847 | $ 9,624 | 5,847 | 9,624 | 2,297 | ||||||
CASH AND CASH EQUIVALENTS, END OF YEAR | $ 6,033 | $ 5,847 | $ 6,033 | $ 5,847 | $ 9,624 |
Note 20 - Summary of Quarter123
Note 20 - Summary of Quarterly Consolidated Financial Data (Unaudited) - Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest income | $ 11,106 | $ 11,131 | $ 10,924 | $ 10,937 | $ 11,036 | $ 11,134 | $ 11,186 | $ 11,163 | $ 44,098 | $ 44,519 | $ 46,009 |
Interest expense | 920 | 944 | 925 | 904 | 1,087 | 1,126 | 1,176 | 1,213 | 3,693 | 4,602 | 5,122 |
Net interest income | 10,186 | 10,187 | 9,999 | 10,033 | 9,949 | 10,008 | 10,010 | 9,950 | 40,405 | 39,917 | 40,887 |
Provision (credit) for loan losses | (3) | 538 | 318 | 368 | 319 | 302 | 221 | 3 | 1,221 | 845 | 476 |
Net interest income after provision (credit) for loan losses | 10,189 | 9,649 | 9,681 | 9,665 | 9,630 | 9,706 | 9,789 | 9,947 | 39,184 | 39,072 | 40,411 |
Other income | 4,031 | 3,884 | 3,906 | 3,690 | 3,999 | 3,961 | 3,962 | 3,556 | |||
Net gains on available-for-sale securities | 69 | 584 | 122 | 383 | 1,776 | 79 | 932 | 74 | 1,158 | 2,861 | 1,104 |
Other expenses | 8,558 | 8,579 | 8,535 | 9,072 | 8,416 | 8,117 | 7,964 | 8,533 | 5,540 | 5,141 | 5,423 |
Income before equity in undistributed income of subsidiaries | 5,731 | 5,538 | 5,174 | 4,666 | 5,326 | 5,629 | 5,809 | 5,044 | 21,109 | 21,808 | 22,778 |
Income tax provision | 1,500 | 1,451 | 1,303 | 1,093 | 1,261 | 1,395 | 1,452 | 1,229 | 5,328 | 5,097 | 4,280 |
NET INCOME | $ 4,231 | $ 4,087 | $ 3,871 | $ 3,573 | $ 4,065 | $ 4,234 | $ 4,357 | $ 3,815 | $ 15,762 | $ 16,471 | $ 17,086 |
Net income per share – basic (in dollars per share) | $ 0.35 | $ 0.34 | $ 0.32 | $ 0.29 | $ 0.33 | $ 0.35 | $ 0.36 | $ 0.31 | $ 1.30 | $ 1.35 | $ 1.38 |
Net income per share – diluted (in dollars per share) | $ 0.35 | $ 0.34 | $ 0.32 | $ 0.29 | $ 0.33 | $ 0.35 | $ 0.36 | $ 0.31 | |||
Loss on prepayment of borrowings | $ 1,663 | $ 0 | $ 910 | $ 0 | $ 0 | $ 2,573 | $ 0 |