Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 27, 2017 | Jun. 30, 2016 | |
Document And Entity Information | |||
Entity Registrant Name | SUMMIT FINANCIAL GROUP INC | ||
Entity Central Index Key | 811,808 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
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 | ||
Entity Common Stock, Shares Outstanding | 10,885,509 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 159,920,000 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 4,262 | $ 3,625 |
Interest bearing deposits with other banks | 42,354 | 5,862 |
Cash and cash equivalents | 46,616 | 9,487 |
Securities available for sale | 266,542 | 280,792 |
Other investments | 12,942 | 8,949 |
Loans held for sale, net | 176 | 779 |
Loans, net | 1,307,862 | 1,079,331 |
Property held for sale | 24,504 | 25,567 |
Premises and equipment, net | 23,737 | 21,572 |
Accrued interest receivable | 6,167 | 5,544 |
Intangible assets | 13,652 | 7,498 |
Cash surrender value of life insurance policies | 39,143 | 37,732 |
Other assets | 17,306 | 15,178 |
Total assets | 1,758,647 | 1,492,429 |
Deposits | ||
Non interest bearing | 149,737 | 119,010 |
Interest bearing | 1,145,782 | 947,699 |
Total deposits | 1,295,519 | 1,066,709 |
Short-term borrowings | 224,461 | 171,394 |
Long-term borrowings | 46,670 | 75,581 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 19,589 | 19,589 |
Other liabilities | 17,048 | 15,412 |
Total liabilities | 1,603,287 | 1,348,685 |
Commitments and Contingencies | ||
Shareholders' Equity | ||
Preferred stock, $1.00 par value, authorized 250,000 shares | 0 | 0 |
Common stock and related surplus, $2.50 par value; authorized 20,000,000 shares; issued: 2016 - 10,883,509 shares, 2015 - 10,853,566 shares; outstanding: 2016 - 10,736,970 shares, 2015 - 10,671,744 shares | 46,757 | 45,741 |
Unearned ESOP Shares | (1,583) | (1,964) |
Retained earnings | 113,448 | 100,423 |
Accumulated other comprehensive income | (3,262) | (456) |
Total shareholders' equity | 155,360 | 143,744 |
Total liabilities and shareholders' equity | $ 1,758,647 | $ 1,492,429 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 12, 2015 | Dec. 31, 2011 | Sep. 30, 2009 | Dec. 31, 2016 | Dec. 31, 2015 |
Preferred stock, shares authorized | 250,000 | 250,000 | |||
Preferred stock, par value | $ 1 | $ 1 | |||
Common stock, par value | $ 2.50 | $ 2.50 | |||
Common stock, shares authorized | 20,000,000 | 20,000,000 | |||
Common stock, shares issued | 10,883,509 | 10,853,566 | |||
Common stock, shares outstanding | 10,736,970 | 10,671,744 | |||
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 146,539 | 181,822 | |||
Less allowance for loan losses | $ 11,674 | $ 11,472 | |||
Series 2009 Preferred Stock [Member] | |||||
Preferred stock, par value | $ 1 | $ 1 | |||
Preferred stock, shares issued | 3,710 | ||||
Preferred stock, dividend rate | 8.00% | 8.00% | |||
Series 2011 Preferred Stock [Member] | |||||
Preferred stock, par value | $ 1 | $ 1 | |||
Preferred stock, shares issued | 12,000 | ||||
Preferred stock, dividend rate | 8.00% | 8.00% |
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 | $ 56,439 | $ 51,554 | $ 50,078 |
Tax-exempt | 541 | 514 | 352 |
Interest and dividends on securities | |||
Taxable | 4,395 | 4,329 | 4,693 |
Tax-exempt | 2,543 | 2,479 | 2,495 |
Interest on interest bearing deposits with other banks | 173 | 7 | 8 |
Total interest income | 64,091 | 58,883 | 57,626 |
Interest expense | |||
Interest on deposits | 8,964 | 8,336 | 8,995 |
Interest on short-term borrowings | 2,288 | 525 | 306 |
Interest on long-term borrowings and subordinated debentures | 3,832 | 4,006 | 5,940 |
Total interest expense | 15,084 | 12,867 | 15,241 |
Net interest income | 49,007 | 46,016 | 42,385 |
Provision for loan losses | 500 | 1,250 | 2,250 |
Net interest income after provision for loan losses | 48,507 | 44,766 | 40,135 |
Other income | |||
Insurance commissions | 4,022 | 4,042 | 4,400 |
Service fees related to deposit accounts | 4,370 | 4,285 | 4,405 |
Realized securities gains | 1,127 | 1,444 | 213 |
Bank owned life insurance income | 1,054 | 1,040 | 1,071 |
Other | 1,027 | 1,050 | 1,134 |
Total other income | 11,600 | 11,861 | 11,223 |
Other expense | |||
Salaries, commissions, and employee benefits | 19,573 | 17,638 | 16,185 |
Net occupancy expense | 2,098 | 1,964 | 2,023 |
Equipment expense | 2,759 | 2,294 | 2,086 |
Professional fees | 1,515 | 1,616 | 1,429 |
Marketing and Advertising Expense | 445 | 497 | 425 |
Amortization of intangibles | 247 | 200 | 250 |
FDIC premiums | 875 | 1,220 | 1,792 |
Business Combination, Acquisition Related Costs | 933 | 0 | 0 |
Foreclosed properties expense | 414 | 684 | 1,020 |
(Gain) loss on sale of foreclosed properties | (916) | (26) | 827 |
Write-down of foreclosed properties | 668 | 2,415 | 3,771 |
Other | 6,191 | 5,130 | 5,516 |
Total other expense | 34,802 | 33,632 | 35,324 |
Income before income taxes | 25,305 | 22,995 | 16,034 |
Income tax expense | 8,008 | 6,893 | 4,678 |
Net Income | 17,297 | 16,102 | 11,356 |
Dividends on preferred shares | 0 | 0 | 771 |
Net income (loss) applicable to common shares | $ 17,297 | $ 16,102 | $ 10,585 |
Basic earnings per share | $ 1.62 | $ 1.56 | $ 1.40 |
Diluted earnings per share | $ 1.61 | $ 1.50 | $ 1.17 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 17,297 | $ 16,102 | $ 11,356 |
Other comprehensive income (loss): | |||
Net unrealized gain (loss) on cashflow hedge of $459, ($2,160), and ($3,714), net of deferred taxes of $170, ($799), and ($1,374) for the years ended December 31, 2016, 2015, and 2014 respectfully | 289 | (1,361) | (2,340) |
Net unrealized gain (loss) on available for sale debt securities of ($4,913), ($1,852), and $7,037, net of deferred taxes of ($1,818), ($685), and $2,604 and reclassification adjustment for net realized gains included in net income of $1,127, $1,444, and $213, net of tax of $417, $534, and $79 for the years ended December 31, 2016, 2015, and 2014, respectfully | (3,095) | (1,167) | 4,433 |
Other Comprehensive Income (Loss), Net of Tax | (2,806) | (2,528) | 2,093 |
Total comprehensive income | $ 14,491 | $ 13,574 | $ 13,449 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Net unrealized gain (loss) on cashflow hedge | $ 459 | $ (2,160) | $ (3,714) |
Net unrealized gain (loss) on cashflow hedge, deferred taxes | 170 | (799) | (1,374) |
Net unrealized gain (loss) on available for sale debt securities | (4,913) | (1,852) | 7,037 |
Net unrealized gain (loss) on available for sale debt securities, deferred taxes | (1,818) | (685) | 2,604 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | 1,127 | 1,444 | 213 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 417 | $ 534 | $ 79 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock and Related Surplus [Member] | Unearned ESOP Shares [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Series 2009 Preferred Stock [Member] | Series 2009 Preferred Stock [Member]Common Stock and Related Surplus [Member] | Series 2009 Preferred Stock [Member]Retained Earnings [Member] | Series 2009 Preferred Stock [Member]Preferred Stock [Member] | Series 2011 Preferred Stock [Member] | Series 2011 Preferred Stock [Member]Common Stock and Related Surplus [Member] | Series 2011 Preferred Stock [Member]Retained Earnings [Member] | Series 2011 Preferred Stock [Member]Preferred Stock [Member] |
Beginning Balance at Dec. 31, 2013 | $ 111,072 | $ 24,664 | $ 77,134 | $ (21) | $ 3,519 | $ 5,776 | |||||||
Comprehensive income: | |||||||||||||
Net income | 11,356 | 11,356 | |||||||||||
Other comprehensive income | 2,093 | 2,093 | |||||||||||
Exercise of stock options | 71 | 71 | |||||||||||
Stock compensation expense | 1 | 1 | |||||||||||
Conversion of Preferred Stock to Common Stock | $ 0 | $ 100 | (100) | $ 0 | $ 12 | (12) | |||||||
Series 2009 Preferred Stock cash dividends declared ($80.00 per share) | (295) | $ (295) | |||||||||||
Series 2011 Preferred Stock cash dividends declared ($40.00 per share) | (476) | $ (476) | |||||||||||
Issuance of shares of common stock | 7,822 | 7,822 | |||||||||||
Ending Balance at Dec. 31, 2014 | 131,644 | 32,670 | 87,719 | 2,072 | 3,419 | 5,764 | |||||||
Comprehensive income: | |||||||||||||
Net income | 16,102 | 16,102 | |||||||||||
Other comprehensive income | (2,528) | (2,528) | |||||||||||
Exercise of stock options | 51 | 51 | |||||||||||
Stock compensation expense | 151 | 151 | |||||||||||
Conversion of Preferred Stock to Common Stock | $ (15) | $ 3,404 | (3,419) | $ (17) | $ 5,747 | (5,764) | |||||||
Issuance of shares of common stock | 4,772 | 4,772 | |||||||||||
Purchase of unallocated common stock held by ESOP | (2,250) | $ (2,250) | |||||||||||
Stock Issued During Period, Value, Employee Stock Ownership Plan | 312 | 26 | 286 | ||||||||||
Stock Repurchased and Retired During Period, Value | (1,080) | (1,080) | |||||||||||
Dividends, Common Stock, Cash | (3,398) | (3,398) | |||||||||||
Ending Balance at Dec. 31, 2015 | 143,744 | 45,741 | (1,964) | 100,423 | (456) | 0 | 0 | ||||||
Comprehensive income: | |||||||||||||
Net income | 17,297 | 17,297 | |||||||||||
Other comprehensive income | (2,806) | (2,806) | |||||||||||
Exercise of stock options | 447 | 447 | |||||||||||
Stock compensation expense | 200 | 200 | |||||||||||
Stock Issued During Period, Value, Employee Stock Ownership Plan | 649 | 268 | 381 | ||||||||||
Stock Issued During Period, Value, Dividend Reinvestment Plan | 101 | 101 | 0 | ||||||||||
Dividends, Common Stock, Cash | (4,272) | (4,272) | |||||||||||
Ending Balance at Dec. 31, 2016 | $ 155,360 | $ 46,757 | $ (1,583) | $ 113,448 | $ (3,262) | $ 0 | $ 0 |
Consolidated Statements of Sha8
Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Number of common shares issued | 0 | 499,665 | 819,384 |
Stock Repurchased and Retired During Period, Shares | 0 | 100,000 | |
Common Stock, Dividends, Per Share, Declared | $ 0.40 | $ 0.32 | |
Purchase of unallocated common stock held by ESOP, number of shares | 0 | 208,333 | |
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 35,283 | 26,511 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 24,740 | 6,560 | 10,160 |
Series 2009 Preferred Stock [Member] | |||
Preferred stock, dividends per share | $ 0 | $ 0 | $ 80 |
Series 2011 Preferred Stock [Member] | |||
Preferred stock, dividends per share | $ 0 | $ 0 | $ 40 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash Flows from Operating Activities | |||
Net income | $ 17,297 | $ 16,102 | $ 11,356 |
Adjustments to reconcile net earnings to net cash | |||
Depreciation | 1,224 | 1,076 | 1,074 |
Provision for loan losses | 500 | 1,250 | 2,250 |
Stock compensation expense | 200 | 151 | 1 |
Deferred income tax expense | (357) | 190 | 1,004 |
Loans originated for sale | (10,593) | (4,762) | (2,663) |
Proceeds from loans sold | 11,196 | 4,510 | 2,457 |
Securities losses | (1,127) | (1,444) | (213) |
Loss on disposal of assets | (946) | (24) | 815 |
Write down of foreclosed properties | 668 | 2,415 | 3,771 |
Amortization of securities premiums (accretion of discounts), net | 4,325 | 5,131 | 5,279 |
Amortization (accretion) related to acquisitions, net | (44) | 12 | 12 |
Amortization of intangibles | 247 | 200 | 250 |
Decrease in accrued interest receivable | (254) | 293 | (169) |
Increase in cash surrender value of bank owned life insurance | (1,059) | (1,032) | (1,088) |
(Increase) decrease in other assets | (894) | (1,077) | (55) |
Increase (decrease) in other liabilities | 2,827 | 657 | 1,521 |
Net cash provided by operating activities | 23,210 | 23,648 | 25,602 |
Cash Flows from Investing Activities | |||
Proceeds from maturities and calls of securities available for sale | 3,235 | 2,043 | 4,051 |
Proceeds from sales of securities available for sale | 72,453 | 69,632 | 80,914 |
Principal payments received on securities available for sale | 35,881 | 38,502 | 34,390 |
Purchases of securities available for sale | (99,497) | (113,677) | (111,438) |
Purchases of other investments | (18,273) | (9,997) | (3,899) |
Redemption of Federal Home Loan Bank Stock | 14,066 | 7,231 | 5,532 |
Net principal payments received on loans | (170,716) | (63,359) | (87,983) |
Purchases of premises and equipment | (1,857) | (2,588) | (511) |
Proceeds from disposal of premises and equipment | 43 | 0 | 9 |
Proceeds from sales of other repossessed assets & property held for sale | 4,705 | 13,224 | 14,602 |
Cash Acquired from Acquisition | 31,409 | 0 | 0 |
Net cash provided by (used in) investing activities | (128,551) | (58,989) | (64,333) |
Cash Flows from Financing Activities | |||
Net increase in demand deposit, NOW and savings accounts | 78,462 | 28,487 | 100,174 |
Net decrease in time deposits | 43,575 | (23,125) | (42,672) |
Net increase in short-term borrowings | 53,068 | 47,761 | 60,865 |
Repayment of long-term borrowings | (28,911) | (1,909) | (86,027) |
Repayments of Subordinated Debt | 0 | (16,800) | 0 |
Net proceeds from issuance of common stock | 101 | 4,772 | 7,822 |
Payments for Repurchase of Common Stock | 0 | (1,080) | 0 |
Origination of Loans to Employee Stock Ownership Plans | 0 | (2,250) | 0 |
Exercise of stock options | 447 | 51 | 71 |
Payments of Ordinary Dividends, Common Stock | (4,272) | (3,398) | 0 |
Dividends paid on preferred stock | 0 | (191) | (774) |
Net cash provided by (used in) financing activities | 142,470 | 32,318 | 39,459 |
Increase in cash and cash equivalents | 37,129 | (3,023) | 728 |
Cash and cash equivalents: | |||
Beginning | 9,487 | 12,510 | 11,782 |
Ending | 46,616 | 9,487 | 12,510 |
Cash payments for: | |||
Interest | 15,175 | 12,854 | 15,862 |
Income taxes | 8,022 | 7,440 | 2,843 |
Supplemental Schedule of Noncash Investing and Financing Activities | |||
Other assets acquired in settlement of loans | 2,394 | 2,622 | 2,961 |
Noncash or Part Noncash Acquisition, Value of Assets Acquired | 70,894 | 0 | 0 |
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed | $ 107,094 | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | BASIS OF PRESENTATION We are a financial holding company headquartered in Moorefield, West Virginia. Our primary business is community banking. Our community bank subsidiary, Summit Community Bank (“Summit Community”) provides commercial and retail banking services primarily in the Eastern Panhandle and South Central regions of West Virginia and the Shenandoah Valley and Northern region of Virginia. We also operate Summit Insurance Services, LLC in Moorefield, West Virginia and Leesburg, Virginia. Our accounting and reporting policies conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Use of estimates : We must make estimates and assumptions that affect the reported amounts and disclosures in preparing our financial statements in conformity with accounting principles generally accepted in the United States of America. Actual results could differ significantly from those estimates. Principles of consolidation : The accompanying consolidated financial statements include the accounts of Summit and its wholly-owned subsidiaries. All significant accounts and transactions among these entities have been eliminated. Comprehensive income: Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale and unrealized gains and losses on cash flow hedges which are also recognized as separate components of equity. Cash and cash equivalents: Cash and cash equivalents includes cash on hand, amounts due from banks (including cash items in process of clearing), interest bearing deposits with other banks and federal funds sold. Loans held for sale : Loans held for sale are valued at the lower of aggregate carrying cost or fair value. Gains or losses realized on the sales of loans are recognized in other income at the time of sale. Cash surrender value of life insurance policies: We have purchased life insurance policies on certain employees. Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Presentation of cash flows : For purposes of reporting, cash flows from demand deposits, NOW accounts, savings accounts and short-term borrowings are reported on a net basis, since their original maturities are less than three months. Cash flows from loans and certificates of deposit and other time deposits are reported net. Advertising: Advertising costs are expensed as incurred. Trust services : Assets held in an agency or fiduciary capacity are not our assets and are not included in the accompanying consolidated balance sheets. Trust services income is recognized on the cash basis in accordance with customary banking practice. Reporting such income on a cash basis does not produce results that are materially different from those that would result from use of theaccrual basis. Unconsolidated subsidiary trusts:: In accordance with accounting principles generally accepted in the United States, we do not consolidate subsidiary trusts which issue guaranteed preferred beneficial interests in subordinated debentures (Trust Preferred Securities). The Trust Preferred Securities continue to qualify as Tier 1 capital for regulatory purposes. See Note 13 of our Notes to Consolidated Financial Statements for a discussion of our subordinated debentures owed to unconsolidated subsidiary trusts. Significant accounting policies: The following table identifies our other significant accounting policies and the Note and page where a detailed description of each policy can be found. Acquisitions Note 3 Page 59 Fair Value Measurements Note 4 Page 62 Securities Note 5 Page 67 Other Investments Note 6 Page 70 Loans Note 7 Page 71 Allowance for Loan Losses Note 8 Page 79 Property Held for Sale Note 9 Page 82 Premises and Equipment Note 10 Page 83 Goodwill and Other Intangible Assets Note 11 Page 83 Securities Sold Under Agreements to Repurchase Note 13 Page 85 Derivative Financial Instruments Note 14 Page 87 Income Taxes Note 15 Page 88 Employee Benefit Plans Note 16 Page 90 Share-Based Compensation Note 16 Page 91 Operating Segments Note 21 Page 95 Earnings Per Share Note 22 Page 97 Accumulated Other Comprehensive Income Note 23 Page 97 |
Significant New Authoritative A
Significant New Authoritative Accounting Guidance | 12 Months Ended |
Dec. 31, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Significant New Authoritative Accounting Guidance | SIGNIFICANT NEW AUTHORITATIVE ACCOUNTING GUIDANCE ASU 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20) - Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items eliminates from U.S. GAAP the concept of extraordinary items, which, among other things, required an entity to segregate extraordinary items considered to be unusual and infrequent from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. ASU 2015-01 was effective for us beginning January 1, 2016, and did not impact our financial statements. ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs specifies that debt issuance costs related to a recognized liability are to be reported in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. ASU 2015-03 was effective for us January 1, 2016 and did not impact our financial statements. ASU 2015-15, Interest—Imputation of Interest (Subtopic 835-30) - Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting), issued in August 2015, specifies thatdeferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement is an acceptable accounting method. ASU 2015-05, Intangibles – Goodwill and Other - Internal-Use Software (Subtopic 350-40) – Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement addresses accounting for fees paid by a customer in cloud computing arrangements such as (i) software as a service, (ii) platform as a service, (iii) infrastructure as a service and (iv) other similar hosting arrangements. ASU 2015-05 provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. ASU 2015-05 was effective for us on January 1, 2016 and did not impact our financial statements. ASU 2015-16, Business Combinations (Topic 805) – Simplifying the Accounting for Measurement-Period Adjustments requires that adjustments to provisional amounts identified during the measurement period of a business combination be recognized in the reporting period in which the adjustment amounts are determined. Furthermore, the income statement effects of such adjustments, if any, must be calculated as if the accounting had been completed at the acquisition date reflecting the portion of the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. Under previous guidance, adjustments to provisional amounts identified during the measurement period are to be recognized retrospectively. ASU 2015-16 was effective for us on January 1, 2016 and did not have a significant impact on our financial statements. ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , among other things, (i) requires equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income, (ii) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (iii) eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, (iv) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, (v) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, (vi) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements and (viii) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale. ASU 2016-01 will be effective for us on January 1, 2018 and is not expected to have a significant impact on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . Among other things, in the amendments in ASU 2016-02, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) A lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. We are currently assessing the impact that ASU 2016-02 will have on our financial statements. During March 2016, the FASB issued ASU No. 2016-05, Derivatives and Hedging (Topic 815) - Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships . The amendments in this ASU clarify that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria remain intact. The amendments in this ASU are effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We do not expect the adoption of ASU 2016-05 to have a material impact on our financial statements. In March 2016, the FASB issued ASU No. 2016-07, Investments - Equity Method and Joint Ventures (Topic 323) - Simplifying the Transition to the Equity Method of Accounting. The amendments in this ASU eliminate the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. Therefore, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. In addition, the amendments in this ASU require that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for use of the equity method. The amendments are effective for all entities for fiscal years and interim periods within those fiscal years, beginning after December 15, 2016. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. Early Adoption is permitted. We do not expect the adoption of ASU 2016-07 to have a material impact on our financial statements. During March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718) - Improvements to Employee Shares-Based Payment Accounting. The amendments in this ASU simplify several aspects of the accounting for share-based payment award transactions including: (a) income tax consequences; (b) classification of awards as either equity or liabilities; and (c) classification on the statement of cash flows. The amendments are effective for public companies for annual periods beginning after December 15, 2016 and interim periods within those annual periods. We are currently assessing the impact that ASU 2016-09 will have on our financial statements. During June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments. The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The amendments in this ASU are effective for SEC filers for fiscal years and interim periods within those fiscal years, beginning after December 15, 2019. We are currently assessing the impact that ASU 2016-13 will have on our financial statements. During August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments , to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments are effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The amendments are to be applied using a retrospective transition method to each period presented. If retrospective application is impractical for some of the issues addressed by the update, the amendments for those issues would be applied prospectively as of the earliest date practicable. Early adoption is permitted, including adoption in an interim period. We do not expect the adoption of ASU 2016-15 to have a material impact on our financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805) - Clarifying the Definition of a Business . The amendments in this ASU clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under the current implementation guidance in Topic 805, there are three elements of a business-inputs, processes and outputs. While an integrated set of assets and activities (collectively referred to as a “set”) that is a business usually has outputs, outputs are not required to be present. In addition, all the inputs and processes that a seller uses in operating a set are not required if market participants can acquire the set and continue to produce outputs. The amendments in this ASU provide a screen to determine when a set is not a business. If the screen is not met, the amendments (1) require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) remove the evaluation of whether a market participant could replace missing elements. The ASU provides a framework to assist entities in evaluating whether both an input and a substantive process are present. The amendments in this ASU are effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The amendments in this ASU are to be applied prospectively on or after the effective date. No disclosures are required at transition. We do not expect the adoption of ASU 2017-01 to have a material impact on our financial statements. During January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment . The amendments in this ASU simplify how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Instead, under the amendments in this ASU, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. Public business entities that are U.S. Securities and Exchange Commission (SEC) filers should adopt the amendments in this ASU for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are currently assessing the impact that this ASU will have on our financial statements. |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisitions | ACQUISITIONS Highland County Bankshares, Inc. On October 1, 2016, Summit Community Bank, Inc. ("SCB"), a wholly-owned subsidiary of Summit, acquired 100% of the ownership of Highland County Bankshares, Inc. ("HCB") and its subsidiary First and Citizens Bank, headquartered in Monterey, Virginia. With this transaction, Summit expands its footprint into the Virginia counties of Highland, Bath and Augusta, each of which are contiguous with counties where Summit has existing offices. Pursuant to the Agreement and Plan of Merger dated February 29, 2016, HCB's shareholders received $38.00 for each share of HCB common stock they owned, or approximately $21.8 million in the aggregate. HCB's assets and liabilities approximated $123 million and $107 million , respectively, at September 30, 2016. We accounted for the acquisition using the acquisition method of accounting in accordance with ASC 805, Business Combinations and accordingly, the assets and liabilities of HCB were recorded at their respective acquisition date fair values. Determining the fair value of assets and liabilities, particularly related to the loan portfolio, is a complicated process involving significant judgment regarding methods and assumptions used to calculate the estimated fair values. The fair values are preliminary and subject to refinement for up to one year after the acquisition date as additional information relative to the acquisition date fair values becomes available. We recognized preliminary goodwill of $4.79 million in connection with the acquisition, which is not amortized for financial reporting purposes but is subject to annual impairment testing. The core deposit intangible represents the value of long-term deposit relationships acquired in this transaction and will be amortized over an estimated weighted average life of 16 years using an accelerated method which approximates the estimated run-off of the acquired deposits. The following table details the total consideration paid on October 1, 2016 in connection with the acquisition of HCB, the fair values of the assets acquired and liabilities assumed and the resulting preliminary goodwill. (Dollars in thousands) As Recorded by HCB Estimated Fair Value Adjustments Estimated Fair Values as Recorded by Summit Cash consideration paid $ 21,826 Identifiable assets acquired: Cash and cash equivalents $ 53,235 $ — $ 53,235 Securities available for sale, at fair value 5,932 — 5,932 Loans Purchased performing 58,931 (467 ) 58,464 Purchased credit impaired 2,910 (528 ) 2,382 Allowance for loan losses (1,040 ) 1,040 — Premises and equipment 1,925 (307 ) 1,618 Property held for sale 41 (18 ) 23 Core deposit intangibles — 1,610 1,610 Other assets 906 (41 ) 865 Total identifiable assets acquired $ 122,840 $ 1,289 $ 124,129 Identifiable liabilities assumed: Deposits 106,907 (145 ) 106,762 Other liabilities 332 — 332 Total identifiable liabilities assumed $ 107,239 $ (145 ) $ 107,094 Net identifiable assets acquired $ 15,601 $ 1,434 $ 17,035 Preliminary goodwill resulting from acquisition $ 4,791 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented above. Cash and cash equivalents: The carrying amount of these assets approximates their fair value based on the short-term nature of these assets. Securities : Fair values for securities are based on quoted market prices, where available. If quoted market prices are not available, fair value estimates are based on observable inputs including quoted market prices for similar instruments, quoted market prices that are not in an active market or other inputs that are observable in the market. Loans: Fair values for loans are based on a discounted cash flow methodology that considered factors including the type of loan and related collateral, collectibility, fixed or variable interest rate, term of loan, amortization status and current market rates. Loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. The discount rates used for loans are based on current market rates for new originations of comparable loans and include adjustments for liquidity concerns, if any. Premises and equipment: The fair value of HCB's real property was determined based upon appraisals by licensed appraisers. The fair value of tangible personal property, which is not material, was assumed to equal the carrying value by HCB. Core deposit intangible: This intangible asset represents the value of the relationships with deposit customers. The fair value was estimated based on a discounted cash flow methodology that gave appropriate consideration to expected customer attrition rates, cost of the deposit base, reserve requirements and the net maintenance cost attributable to customer deposits. Deposits: The fair values of the demand and savings deposits by definition equal the amount payable on demand at the acquisition date. The fair values for time deposits are estimated using a discounted cash flow calculation that applies interest rates currently being offered to the contractual interest rates on such time deposits. Loans acquired in a business combinationare recorded at estimated fair value on the date of acquisition without the carryover of the related allowance for loan losses. Purchased credit-impaired (PCI) loans are those for which there is evidence of credit deterioration since origination and for which it is probable at the date of acquisition that we will not collect all contractually required principal and interest payments. When determining fair value, PCI loans are identified as of the date of acquisition based upon evidence of credit quality such as internal risk grades and past due and nonaccrual status. The difference between contractually required payments of principal and interest at acquisition and the cash flows expected to be collected at acquisition is accounted for as a"nonaccretable difference," and is available to absorb future credit losses on those loans. For purposes of determining the nonaccretable difference, no prepayments are generally assumed in determining contractually required payments of principal and interest or cash flows expected to be collected. Subsequent decreases to the expected cash flows will generally result in a provision for loan losses. Subsequent significant increases in cash flows may result in a reversal of the provision for loan losses to the extent of prior charges, or a transfer from nonaccretable difference to accretable yield. Further, any excess of cash flows expected at acquisition over the estimated fair value is accounted for as accretable yield and is recognized as interest income over the remaining life of the loan when there is a reasonable expectation about the amount and timing of such cash flows. Loans not designated PCI loans as of the acquisition date are designated purchased performing loans. We account for purchased performing loans using the contractual cash flows method of recognizing discount accretion based on the acquired loans’ contractual cash flows. Purchased performing loans are recorded at fair value, including a credit discount. The fair value discount is accreted as an adjustment to yield over the estimated lives of the loans. There is no allowance for loan losses established at the acquisition date for purchased performing loans. A provision for loan losses is recorded for any deterioration in these loans subsequent to the acquisition. The PCI loan portfolio related to the HCB acquisition was accounted for at estimated fair value on the date of acquisition, October 1, 2016, as follows: Dollars in thousands Acquired Loans -PCI Contractual principal and interest due $ 3,301 Nonaccretable difference (586 ) Expected cash flows 2,715 Accretable yield (333 ) Purchase credit impaired loans - estimated fair value $ 2,382 The following table estimates the pro forma revenue, net income and diluted earnings per share of the combined entities of Summit and HCB as if the acquisition taken place on January 1, 2014. The pro forma revenue, net income and diluted earnings per share combines the historical results of HCB with Summit's consolidated statements of income for the periods below and, while certain adjustments were made for the estimated effect of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition actually taken place on January 1, 2014. Acquisition related expenses of $933,000 were included in our actual consolidated statement of income for the year ended December 31, 2016, but were excluded from the pro forma information listed below. Additionally, HCB incurred acquisition related expenses of $405,000 in 2016 which were also excluded. We expect to achieve operational cost savings and other efficiencies as a result of the acquisition which are not reflected in the pro forma amounts below. Summit & HCB Pro Forma For the Year Ended December 31, Dollars in thousands 2016 2015 2014 Total revenues, net of interest expense $ 64,149 $ 62,684 $ 58,400 Net income $ 18,042 $ 16,861 $ 11,271 Diluted earnings per share $ 1.68 $ 1.57 $ 1.24 It is impracticable for us to provide total revenue, net income and diluted earnings per share attributable to the operations of HCB that were included in our consolidated statement of income from October 1, 2016 (date of acquisition) through December 31, 2016, since HCB's operations were merged and fully integrated into Summit's bank subsidiary operations upon acquisition and meaningful financial information relative to those operations is not available. First Century Bankshares, Inc. On June 1, 2016, we entered into a Definitive Merger Agreement between SCB and First Century Bankshares, Inc. ("FCB"). Pursuant to the terms of the merger agreement, SCB will acquire all of the outstanding shares of common stock of FCB in exchange for cash in the amount of $22.50 per share or 1.2433 shares of Summit common stock. FCB shareholders will have a right to receive cash, Summit's common stock, or a combination of cash and Summit stock, subject to proration to result in approximately 35% cash and 65% stock consideration in the aggregate, subject to an adjustment if FCB’s adjusted shareholders’ equity as of the effective date of the merger deviates materially from the target determined by the parties. FCB's assets approximated $405 million at December 30, 2016. FCB's shareholders and all regulatory agencies have approved and we anticipate the acquisition will close early 2017, subject to customary closing conditions. The following table illustrates the pro forma revenue, net income and diluted earnings per share of the combined entities of Summit, HCB and FCB had the acquisitions taken place on January 1, 2014. The pro forma revenue, net income and diluted earnings per share combines the historical results of HCB and FCB with Summit's consolidated statements of income for the periods below and, while certain adjustments were made for the estimated effect of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition actually taken place on January 1, 2014. Acquisition related expenses of $933,000 were included in our actual consolidated statement of net income for the year ended December 31, 2016, but were excluded from the pro forma information listed below. HCB and FCB incurred acquisition related expenses of $405,000 and $400,000 , respectively, in 2016 which were also excluded. In addition and also excluded, was a 2016 charge of $5.46 million by FCB relative to the termination of its defined benefit plan, which was required in conjunction with the merger. We expect to achieve operational cost savings and other efficiencies as a result of the acquisition which are not reflected in the pro forma amounts below. Summit, HCB & FCB Pro Forma For the Year Ended December 31, Dollars in thousands 2016 2015 2014 Total revenues, net of interest expense $ 83,239 $ 82,191 $ 77,894 Net income $ 21,259 $ 19,874 $ 15,133 Diluted earnings per share $ 1.73 $ 1.62 $ 1.41 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Fair value is based upon the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy is utilized to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs used to measure fair value are as follows: Level 1 : Quoted prices (unadjusted) or identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 : Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active and other inputs that are observable or can be corroborated by observable market data. Level 3 : Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Accordingly, securities available-for-sale are recorded at fair value on a recurring basis. Additionally, from time to time, we may be required to record other assets at fair value on a nonrecurring basis, such as loans held for sale and impaired loans held for investment. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. Following is a description of valuation methodologies used for assets and liabilities recorded at fair value. Available-for-Sale Securities : Investment securities available-for-sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities issued by government sponsored entities, municipal bonds and corporate debt securities. Certain trust preferred securities classified as corporate debt securities are Level 3 due to limited market trades of these classes of securities. Derivative Financial Instruments : Derivative financial instruments are recorded at fair value on a recurring basis. Fair value measurement is based on pricing models run by a third-party, utilizing observable market-based inputs. All future floating cash flows are projected and both floating and fixed cash flows are discounted to the valuation date. As a result, we classify interest rate swaps as Level 2. Loans Held for Sale : Loans held for sale are carried at the lower of cost or market value. The fair value of loans held for sale is based on what secondary markets are currently offering for portfolios with similar characteristics. As such, we classify loans subject to nonrecurring fair value adjustments as Level 2. Loans : We do not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan loss is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the original contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment using one of several methods, including collateral value, liquidation value and discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the discounted cash flows or collateral value exceeds the recorded investments in such loans. These loans are carried at recorded loan investment and therefore are not included in the following tables of loans measured at fair value. Impaired loans internally graded as substandard, doubtful, or loss are evaluated using the fair value of collateral method. All other impaired loans are measured for impairment using the discounted cash flows method. Impaired loans where an allowance is established based on the fair value of collateral are included in the fair value hierarchy. When the fair value of the collateral is based on an observable market price or a current appraised value, we record the impaired loan as nonrecurring Level 2. When a current appraised value is not available and there is no observable market price, we record the impaired loan as nonrecurring Level 3. When impaired loans are deemed required to be included in the fair value hierarchy, management immediately begins the process of evaluating the estimated fair value of the underlying collateral to determine if a related specific allowance for loan losses or charge-off is necessary. Current appraisals are ordered once a loan is deemed impaired if the existing appraisal is more than twelve months old, or more frequently if there is known deterioration in value. For recently identified impaired loans, a current appraisal may not be available at the financial statement date. Until the current appraisal is obtained, the original appraised value is discounted, as appropriate, to compensate for the estimated depreciation in the value of the loan’s underlying collateral since the date of the original appraisal. Such discounts are generally estimated based upon management’s knowledge of sales of similar collateral within the applicable market area and its knowledge of other real estate market-related data as well as general economic trends. When a new appraisal is received (which is generally within 3 months of a loan being identified as impaired), management then re-evaluates the fair value of the collateral and adjusts any specific allocated allowance for loan losses, as appropriate. In addition, management also assigns a discount of 7–10% for the estimated costs to sell the collateral. Property Held for Sale: Property held for sale consists of real estate acquired in foreclosure or other settlement of loans. Such assets are carried on the balance sheet at the lower of the investment in the real estate or its fair value less estimated selling costs. The fair value of foreclosed properties is determined on a nonrecurring basis generally utilizing current appraisals performed by an independent, licensed appraiser applying an income or market value approach using observable market data (Level 2). Updated appraisals of foreclosed properties are generally obtained if the existing appraisal is more than 18 months old or more frequently if there is a known deterioration in value. However, if a current appraisal is not available, the original appraised value is discounted, as appropriate, to compensate for the estimated depreciation in the value of the real estate since the date of its original appraisal. Such discounts are generally estimated based upon management’s knowledge of sales of similar property within the applicable market area and its knowledge of other real estate market-related data as well as general economic trends (Level 3). Upon foreclosure, any fair value adjustment is charged against the allowance for loan losses. Subsequent fair value adjustments are recorded in the period incurred and included in other noninterest expense in the consolidated statements of income. Assets and Liabilities Recorded at Fair Value on a Recurring Basis The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis. Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2016 Level 1 Level 2 Level 3 Available for sale securities U.S. Government sponsored agencies $ 15,174 $ — $ 15,174 $ — Mortgage backed securities: Government sponsored agencies 138,846 — 138,846 — Nongovernment sponsored entities 4,653 — 4,653 — Corporate debt securities 18,170 — 18,170 — Other equity securities 137 — 137 — Tax-exempt state and political subdivisions 89,562 — 89,562 — Total available for sale securities $ 266,542 $ — $ 266,542 $ — Derivative financial assets Interest rate swaps $ 200 $ — $ 200 $ — Derivative financial liabilities Interest rate swaps $ 4,611 $ — $ 4,611 $ — Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2015 Level 1 Level 2 Level 3 Available for sale securities U.S. Government sponsored agencies $ 21,475 $ — $ 21,475 $ — Mortgage backed securities: Government sponsored agencies 146,734 — 146,734 — Nongovernment sponsored entities 7,885 — 7,885 — State and political subdivisions 1,953 — 1,953 — Corporate debt securities 14,226 — 14,226 — Other equity securities 77 — 77 — Tax-exempt state and political subdivisions 88,442 — 88,442 — Total available for sale securities $ 280,792 $ — $ 280,792 $ — Derivative financial assets Interest rate swaps $ 94 $ — $ 94 $ — Derivative financial liabilities Interest rate swaps $ 5,166 $ — $ 5,166 $ — Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis We may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. generally accepted accounting principles. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the tables below. Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2016 Level 1 Level 2 Level 3 Residential mortgage loans held for sale $ 176 $ — $ 176 $ — Collateral-dependent impaired loans Construction and development $ 945 $ — $ 945 $ — Residential real estate 130 — 130 — Total collateral-dependent impaired loans $ 1,075 $ — $ 1,075 $ — Property held for sale Commercial real estate $ 976 $ — $ 976 $ — Construction and development 19,327 — 19,327 — Residential real estate 279 — 279 — Total property held for sale $ 20,582 $ — $ 20,582 $ — Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2015 Level 1 Level 2 Level 3 Residential mortgage loans held for sale $ 779 $ — $ 779 $ — Collateral-dependent impaired loans Commercial real estate $ 627 $ — $ — $ 627 Construction and development 1,054 — — 1,054 Residential real estate 279 — 279 — Total collateral-dependent impaired loans $ 1,960 $ — $ 279 $ 1,681 Property held for sale Commercial real estate $ 1,103 $ — $ 1,103 $ — Construction and development 18,477 — 18,419 58 Residential real estate 314 — 314 — Total property held for sale $ 19,894 $ — $ 19,836 $ 58 The following summarizes the methods and significant assumptions we used in estimating our fair value disclosures for financial instruments, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. . Cash and cash equivalents: The carrying values of cash and cash equivalents approximate their estimated fair value. Securities: Estimated fair values of securities are based on quoted market prices, where available. If quoted market prices are not available, estimated fair values are based on quoted market prices of comparable securities. Other investments: Other investments consists of FHLB stock, which does not have readily determinable fair values and is carried at cost and an investment in a limited partnership which owns interests in a diversified portfolio of qualified affordable housing projects which is reflected at its carrying value. Loans held for sale: The carrying values of loans held for sale approximate their estimated fair values. Loans: The estimated fair values for loans are computed based on scheduled future cash flows of principal and interest, discounted at interest rates currently offered for loans with similar terms to borrowers of similar credit quality. No prepayments of principal are assumed. Accrued interest receivable and payable: The carrying values of accrued interest receivable and payable approximate their estimated fair values. Deposits: The estimated fair values of demand deposits (i.e. non-interest bearing checking, NOW, money market and savings accounts) and other variable rate deposits approximate their carrying values. Fair values of fixed maturity deposits are estimated using a discounted cash flow methodology at rates currently offered for deposits with similar remaining maturities. Any intangible value of long-term relationships with depositors is not considered in estimating the fair values disclosed. Short-term borrowings: The carrying values of short-term borrowings approximate their estimated fair values. Long-term borrowings: The fair values of long-term borrowings are estimated by discounting scheduled future payments of principal and interest at current rates available on borrowings with similar terms. Subordinated debentures owed to unconsolidated subsidiary trusts: The carrying values of subordinated debentures owed to unconsolidated subsidiary trusts approximate their estimated fair values. Derivative financial instruments: The fair value of the interest rate swaps is valued using independent pricing models. Off-balance sheet instruments: The fair values of commitments to extend credit and standby letters of credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present credit standing of the counter parties. The amounts of fees currently charged on commitments and standby letters of credit are deemed insignificant and therefore, the estimated fair values and carrying values are not shown below. The carrying values and estimated fair values of our financial instruments are summarized below: At December 31 2016 Fair Value Measurements Using: Dollars in thousands Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 46,616 $ 46,616 $ — $ 46,616 $ — Securities available for sale 266,542 266,542 — 266,542 — Other investments 12,942 12,942 — 12,942 — Loans held for sale, net 176 176 — 176 — Loans, net 1,307,862 1,321,235 — 1,075 1,320,160 Accrued interest receivable 6,167 6,167 — 6,167 — Derivative financial assets 200 200 — 200 — $ 1,640,505 $ 1,653,878 $ — $ 333,718 $ 1,320,160 Financial liabilities Deposits $ 1,295,519 $ 1,309,820 $ — $ 1,309,820 $ — Short-term borrowings 224,461 224,461 — 224,461 — Long-term borrowings 46,670 49,013 — 49,013 — Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589 — 19,589 — Accrued interest payable 736 736 — 736 — Derivative financial liabilities 4,611 4,611 — 4,611 — $ 1,591,586 $ 1,608,230 $ — $ 1,608,230 $ — At December 31 2015 Fair Value Measurements Using: Dollars in thousands Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 9,487 $ 9,487 $ — $ 9,487 $ — Securities available for sale 280,792 280,792 — 280,792 — Other investments 8,949 8,949 — 8,949 — Loans held for sale, net 779 779 — 779 — Loans, net 1,079,331 1,084,955 — 279 1,084,676 Accrued interest receivable 5,544 5,544 — 5,544 — Derivative financial assets 94 94 — 94 — $ 1,384,976 $ 1,390,600 $ — $ 305,924 $ 1,084,676 Financial liabilities Deposits $ 1,066,709 $ 1,077,510 $ — $ 1,077,510 $ — Short-term borrowings 171,394 171,394 — 171,394 — Long-term borrowings 75,581 80,506 — 80,506 — Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589 — 19,589 — Accrued interest payable 826 826 — 826 — Derivative financial liabilities 5,166 5,166 — 5,166 — $ 1,339,265 $ 1,354,991 $ — $ 1,354,991 $ — |
Securities
Securities | 12 Months Ended |
Dec. 31, 2016 | |
Available-for-sale Securities [Abstract] | |
Securities | SECURITIES We classify debt and equity securities as “held to maturity”, “available for sale” or “trading” according to management’s intent. The appropriate classification is determined at the time of purchase of each security and re-evaluated at each reporting date. Securities held to maturity: Certain debt securities for which we have the positive intent and ability to hold to maturity are reported at cost, adjusted for amortization of premiums and accretion of discounts. There are no securities classified as held to maturity in the accompanying financial statements. Securities available for sale: Securities not classified as "held to maturity" or as "trading" are classified as "available for sale." Securities classified as "available for sale" are those securities that we intend to hold for an indefinite period of time, but not necessarily to maturity. "Available for sale" securities are reported at estimated fair value net of unrealized gains or losses, which are adjusted for applicable income taxes and reported as a separate component of shareholders' equity. Trading securities: There are no securities classified as "trading" in the accompanying financial statements. Impairment assessment: Impairment exists when the fair value of a security is less than its cost. Cost includes adjustments made to the cost basis of a security for accretion, amortization and previous other-than-temporary impairments. We perform a quarterly assessment of the debt and equity securities in our investment portfolio that have an unrealized loss to determine whether the decline in the fair value of these securities below their cost is other-than-temporary. This determination requires significant judgment. Impairment is considered other-than-temporary when it becomes probable that we will be unable to recover the cost of an investment. This assessment takes into consideration factors such as the length of time and the extent to which the market values have been less than cost, the financial condition and near term prospects of the issuer including events specific to the issuer or industry, defaults or deferrals of scheduled interest, principal or dividend payments, external credit ratings and recent downgrades and our intent and ability to hold the security for a period of time sufficient to allow for a recovery in fair value. If a decline in fair value is judged to be other than temporary, the cost basis of the individual security is written down to fair value which then becomes the new cost basis. The amount of the write down is included in other-than-temporary impairment of securities in the consolidated statements of income. The new cost basis is not adjusted for subsequent recoveries in fair value, if any. Realized gains and losses on sales of securities are recognized on the specific identification method. Amortization of premiums and accretion of discounts are computed using the interest method. The amortized cost, unrealized gains, unrealized losses and estimated fair values of securities at December 31, 2016 and 2015 , are summarized as follows: December 31, 2016 Amortized Unrealized Dollars in thousands Cost Gains Losses Fair Value Available for Sale Taxable debt securities U.S. Government and agencies and corporations $ 14,580 $ 642 $ 48 $ 15,174 Residential mortgage-backed securities: Government-sponsored agencies 138,451 1,554 1,159 138,846 Nongovernment-sponsored entities 4,631 44 22 4,653 Corporate debt securities 18,295 23 148 18,170 Total taxable debt securities 175,957 2,263 1,377 176,843 Tax-exempt debt securities State and political subdivisions General obligations 49,449 569 1,388 48,630 Water and sewer revenues 9,087 63 149 9,001 Lease revenues 9,037 7 201 8,843 Electric revenues 3,247 10 48 3,209 Sales tax revenues 2,870 — 34 2,836 Other revenues 17,321 93 371 17,043 Total tax-exempt debt securities 91,011 742 2,191 89,562 Equity securities 137 — — 137 Total available for sale securities $ 267,105 $ 3,005 $ 3,568 $ 266,542 December 31, 2015 Amortized Unrealized Dollars in thousands Cost Gains Losses Fair Value Available for Sale Taxable debt securities U.S. Government and agencies and corporations $ 20,461 $ 1,063 $ 49 $ 21,475 Residential mortgage-backed securities: Government-sponsored agencies 145,586 1,943 795 146,734 Nongovernment-sponsored entities 7,836 82 33 7,885 State and political subdivisions Water and sewer revenues 250 — — 250 Other revenues 1,729 — 26 1,703 Corporate debt securities 14,494 — 268 14,226 Total taxable debt securities 190,356 3,088 1,171 192,273 Tax-exempt debt securities State and political subdivisions General obligations 52,490 1,767 41 54,216 Water and sewer revenues 7,614 172 — 7,786 Lease revenues 8,671 187 1 8,857 Special tax revenues 4,532 72 — 4,604 Other revenues 12,703 290 14 12,979 Total tax-exempt debt securities 86,010 2,488 56 88,442 Equity securities 77 — — 77 Total available for sale securities $ 276,443 $ 5,576 $ 1,227 $ 280,792 The below information is relative to the five states where issuers with the highest volume of state and political subdivision securities held in our portfolio are located. We own no such securities of any single issuer which we deem to be a concentration. December 31, 2016 Amortized Unrealized Dollars in thousands Cost Gains Losses Fair Value Michigan $ 15,100 $ 7 $ 520 $ 14,587 Illinois 9,316 181 112 9,385 Texas 8,710 14 257 8,467 West Virginia 8,413 17 64 8,366 California 8,248 115 264 8,099 Management performs pre-purchase and ongoing analysis to confirm that all investment securities meet applicable credit quality standards. Prior to July 1, 2013, we principally used credit ratings from Nationally Recognized Statistical Rating Organizations (“NRSROs”) to support analyses of our portfolio of securities issued by state and political subdivisions, as we generally do not purchase securities that are rated below the six highest NRSRO rating categories. Beginning July 1, 2013, in addition to considering a security’s NRSRO rating, we also assess or confirm through an internal review of an issuer’s financial information and other applicable information that: 1) the issuer’s risk of default is low; 2) the characteristics of the issuer’s demographics and economic environment are satisfactory; and 3) the issuer’s budgetary position and stability of tax or other revenue sources are sound. The proceeds from sales, calls and maturities of available for sale securities, including principal payments received on mortgage-backed obligations, and the related gross gains and losses realized are as follows: Dollars in thousands Proceeds from Gross realized Calls and Principal Years ended December 31, Sales Maturities Payments Gains Losses 2016 $ 72,453 $ 3,235 $ 35,881 $ 1,422 $ 295 2015 69,632 2,043 38,502 1,732 288 2014 80,914 4,051 34,390 1,037 824 Residential mortgage-backed obligations having contractual maturities ranging from 2 to 50 years are included in the following maturity distribution schedules based on their anticipated average life to maturity, which ranges from 1 to 31 years. Accordingly, discounts are accreted and premiums are amortized over the anticipated average life to maturity of the specific obligation. The maturities, amortized cost and estimated fair values of securities at December 31, 2016 , are summarized as follows: Dollars in thousands Amortized Cost Fair Value Due in one year or less $ 53,236 $ 53,659 Due from one to five years 91,067 91,536 Due from five to ten years 16,049 15,992 Due after ten years 106,616 105,218 Equity securities 137 137 Total $ 267,105 $ 266,542 At December 31, 2016 and 2015 , securities with estimated fair values of $103.3 million and $131.2 million respectively, were pledged to secure public deposits and for other purposes required or permitted by law. We held 121 available for sale securities having an unrealized loss at December 31, 2016 . We do not intend to sell these securities and it is more likely than not that we will not be required to sell these securities before recovery of their amortized cost bases. We believe that this decline in value is primarily attributable to the lack of market liquidity and to changes in market interest rates and not due to credit quality. Accordingly, no other-than-temporary impairment charge to earnings is warranted at this time. Provided below is a summary of securities available for sale which were in an unrealized loss position at December 31, 2016 and 2015 . 2016 Less than 12 months 12 months or more Total Dollars in thousands Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Temporarily impaired securities Taxable debt securities U.S. Government agencies and corporations $ 763 $ (5 ) $ 2,575 $ (43 ) $ 3,338 $ (48 ) Residential mortgage-backed securities: Government-sponsored agencies 55,388 (985 ) 8,389 (174 ) 63,777 (1,159 ) Nongovernment-sponsored entities 97 — 3,013 (22 ) 3,110 (22 ) Corporate debt securities 968 (31 ) 3,136 (117 ) 4,104 (148 ) Tax-exempt debt securities State and political subdivisions: General obligations 33,115 (1,388 ) — — 33,115 (1,388 ) Water and sewer revenues 4,761 (149 ) — — 4,761 (149 ) Lease revenues 7,011 (201 ) — — 7,011 (201 ) Electric revenues 1,973 (48 ) — — 1,973 (48 ) Sales tax revenues 2,836 (34 ) — — 2,836 (34 ) Other revenues 8,445 (371 ) — — 8,445 (371 ) Total temporarily impaired securities 115,357 (3,212 ) 17,113 (356 ) 132,470 (3,568 ) Total $ 115,357 $ (3,212 ) $ 17,113 $ (356 ) $ 132,470 $ (3,568 ) 2015 Less than 12 months 12 months or more Total Dollars in thousands Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Temporarily impaired securities Taxable debt securities U.S. Government agencies and corporations $ 2,104 $ (2 ) $ 3,151 $ (47 ) $ 5,255 $ (49 ) Residential mortgage-backed securities: Government-sponsored agencies 52,970 (569 ) 8,672 (226 ) 61,642 (795 ) Nongovernment-sponsored entities 2,298 — 2,819 (33 ) 5,117 (33 ) State and political subdivisions: Other revenues 1,702 (26 ) — — 1,702 (26 ) Corporate debt securities 8,367 (268 ) — — 8,367 (268 ) Tax-exempt debt securities State and political subdivisions: General obligations 5,977 (41 ) — — 5,977 (41 ) Lease revenues 576 (1 ) — — 576 (1 ) Other revenues 1,218 (14 ) — — 1,218 (14 ) Total temporarily impaired securities 75,212 (921 ) 14,642 (306 ) 89,854 (1,227 ) Total $ 75,212 $ (921 ) $ 14,642 $ (306 ) $ 89,854 $ (1,227 ) |
Other Investments Other Investm
Other Investments Other Investments | 12 Months Ended |
Dec. 31, 2016 | |
Investments, All Other Investments [Abstract] | |
Investments and Other Noncurrent Assets [Text Block] | NOTE 6. OTHER INVESTMENTS Summit is a member bank of the Federal Home Loan Bank ("FHLB") system. Members are required to own a certain amount of stock based on the level of borrowings from FHLB and other factors. FHLB stock is carried at cost and periodically evaluated for impairment based on ultimate recovery of par value. Dividends are reported as income as earned. This stock totaled $9.59 million and $8.12 million at December 31, 2016 and 2015 . Summit has invested in a limited partnership which owns interests in a diversified portfolio of qualified affordable housing projects. As a result of this investment, Summit is allocated its proportional share of the limited partnership's operating losses and Federal Low Income Housing and Rehabilitation Tax Credits. We use the proportional amortization method to account for this investment, whereby the cost of the investment is amortized in proportion to the amount of tax credits and other tax benefits received and recognize the net investment performance in the income statement as a component of the provision for current income taxes. As of December 31, 2016 and 2015 , our investment in the limited partnership totaled $3.33 million and $831,000 , respectively. For the year ended December 31, 2016 , Summit recognized $55,000 in tax credits and other tax benefits related to this investment. No credits were recognized in 2015 or 2014. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans | LOANS Loans are generally stated at the amount of unpaid principal, reduced by unearned discount and allowance for loan losses. Interest on loans is accrued daily on the outstanding balances. Loan origination fees and certain direct loan origination costs are deferred and amortized as adjustments of the related loan yield over its contractual life. We categorize residential real estate loans in excess of $ 600,000 as jumbo loans. Generally, loans are placed on nonaccrual status when principal or interest is greater than 90 days past due based upon the loan's contractual terms. Interest is accrued daily on impaired loans unless the loan is placed on nonaccrual status. Impaired loans are placed on nonaccrual status when the payments of principal and interest are in default for a period of 90 days, unless the loan is both well-secured and in the process of collection. Interest on nonaccrual loans is recognized primarily using the cost-recovery method. Loans may be returned to accrual status when repayment is reasonably assured and there has been demonstrated performance under the terms of the loan or, if applicable, the terms of the restructured loans. Commercial-related loans or portions thereof are charged off to the allowance for loan losses when the loss has been confirmed. This determination is made on a case by case basis considering many factors, including the prioritization of our claim in bankruptcy, expectations of the workout/restructuring of the loan and valuation of the borrower’s equity. We deem a loss confirmed when a loan or a portion of a loan is classified “loss” in accordance with bank regulatory classification guidelines, which state, “Assets classified loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted”. Consumer-related loans are generally charged to the allowance for loan losses upon reaching specified stages of delinquency, in accordance with the Federal Financial Institutions Examination Council policy. For example, credit card loans are charged off by the end of the month in which the account becomes 180 days past due or within 60 days from receiving notification about a specified event (e.g., bankruptcy of the borrower), whichever is earlier. Residential mortgage loans are generally charged off to net realizable value no later than when the account becomes 180 days past due. Other consumer loans, if collateralized, are generally charged off to net realizable value at 120 days past due. Loans are summarized as follows: Dollars in thousands 2016 2015 Commercial $ 119,088 $ 97,201 Commercial real estate Owner-occupied 203,047 203,555 Non-owner occupied 381,921 337,294 Construction and development Land and land development 72,042 65,500 Construction 16,584 9,970 Residential real estate Non-jumbo 265,641 221,750 Jumbo 65,628 50,313 Home equity 74,596 74,300 Mortgage warehouse lines 85,966 — Consumer 25,534 19,251 Other 9,489 11,669 Total loans, net of unearned fees 1,319,536 1,090,803 Less allowance for loan losses 11,674 11,472 Loans, net $ 1,307,862 $ 1,079,331 The outstanding balance and the recorded investment of loans acquired pursuant to our acquisition of HCB (or acquired loans) that were recorded at fair value, without carryover of HCB's allowance for loan losses at the acquisition date and were included in the consolidated balance sheet at December 31, 2016 are as follows: Acquired Loans Dollars in thousands Purchased Credit Impaired Purchased Performing Total Outstanding balance $ 2,714 $ 54,076 $ 56,790 Recorded investment Commercial $ — $ 4,292 $ 4,292 Commercial real estate Owner-occupied — 497 497 Non-owner occupied — 3,874 3,874 Construction and development Land and land development 395 4,175 4,570 Residential real estate Non-jumbo 789 32,213 33,002 Jumbo 1,017 3,900 4,917 Consumer — 4,460 4,460 Total recorded investment $ 2,201 $ 53,411 $ 55,612 The following table presents a summary of the change in the accretable yield of the PCI loan portfolio for the period from October 1, 2016 to December 31, 2016: Dollars in thousands Acquisition of HCB, October 1, 2016 $ 333 Accretion (20 ) Reclassification of nonaccretable difference due to improvement in expected cash flows — Other changes, net (23 ) Accretable yield, December 31, 2016 $ 290 The following presents loan maturities at December 31, 2016 : Within After 1 but After Dollars in thousands 1 Year within 5 Years 5 Years Commercial $ 48,602 $ 47,689 $ 22,797 Commercial real estate 28,685 49,032 507,251 Construction and development 37,852 15,702 35,072 Residential real estate 16,795 43,221 345,849 Mortgage warehouse lines 85,966 — — Consumer 4,515 17,703 3,316 Other 423 1,598 7,468 $ 222,838 $ 174,945 $ 921,753 Loans due after one year with: Variable rates $ 176,358 Fixed rates 920,340 $ 1,096,698 The following table presents the contractual aging of the recorded investment in past due loans by class as of December 31, 2016 and 2015 . At December 31, 2016 Past Due > 90 days and Accruing Dollars in thousands 30-59 days 60-89 days > 90 days Total Current Commercial $ 90 $ 86 $ 165 $ 341 $ 118,747 $ — Commercial real estate Owner-occupied 93 — 509 602 202,445 — Non-owner occupied 340 — 65 405 381,516 — Construction and development Land and land development 423 129 3,852 4,404 67,638 — Construction — — — — 16,584 — Residential mortgage Non-jumbo 4,297 1,889 3,287 9,473 256,168 — Jumbo — — — — 65,628 — Home equity — 302 57 359 74,237 — Mortgage warehouse lines — — — — 85,966 — Consumer 308 84 150 542 24,992 — Other — — — — 9,489 — Total $ 5,551 $ 2,490 $ 8,085 $ 16,126 $ 1,303,410 $ — At December 31, 2015 Past Due > 90 days and Accruing Dollars in thousands 30-59 days 60-89 days > 90 days Total Current Commercial $ 345 $ 26 $ 632 $ 1,003 $ 96,198 $ — Commercial real estate Owner-occupied 158 386 437 981 202,574 — Non-owner occupied 1 — 856 857 336,437 — Construction and development Land and land development 1,182 194 4,547 5,923 59,577 — Construction — — — — 9,970 — Residential mortgage Non-jumbo 2,276 2,647 1,591 6,514 215,236 — Jumbo — — — — 50,313 — Home equity 374 172 100 646 73,654 — Consumer 155 41 92 288 18,963 9 Other — — — — 11,669 — Total $ 4,491 $ 3,466 $ 8,255 $ 16,212 $ 1,074,591 $ 9 Nonaccrual loans: The following table presents the nonaccrual loans included in the net balance of loans at December 31, 2016 and 2015 . Dollars in thousands 2016 2015 Commercial $ 298 $ 853 Commercial real estate Owner-occupied 509 437 Non-owner occupied 4,336 5,518 Construction and development Land & land development 4,465 5,623 Construction — — Residential mortgage Non-jumbo 4,621 2,987 Jumbo — — Home equity 194 258 Mortgage warehouse lines — — Consumer 151 83 Total $ 14,574 $ 15,759 Impaired loans: Impaired loans include the following: ▪ Loans which we risk-rate (consisting of loan relationships having aggregate balances in excess of $2.5 million , or loans exceeding $500,000 and exhibiting credit weakness) through our normal loan review procedures and which, based on current information and events, it is probable that we will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement. Risk-rated loans with insignificant delays or insignificant short falls in the amount of payments expected to be collected are not considered to be impaired. ▪ Loans that have been modified in a troubled debt restructuring. Both commercial and consumer loans are deemed impaired upon being contractually modified in a troubled debt restructuring. Troubled debt restructurings typically result from our loss mitigation activities and occur when we grant a concession to a borrower who is experiencing financial difficulty in order to minimize our economic loss and to avoid foreclosure or repossession of collateral. Once restructured, a loan is generally considered impaired until its maturity, regardless of whether the borrower performs under the modified terms. Although such a loan may be returned to accrual status if the criteria set forth in our accounting policy are met, the loan would continue to be evaluated for an asset-specific allowance for loan losses and we would continue to report the loan in the impaired loan table below. The following tables present loans individually evaluated for impairment at December 31, 2016 and 2015 . December 31, 2016 Dollars in thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Impaired Balance Interest Income Recognized while impaired Without a related allowance Commercial $ 285 $ 285 $ — $ 247 $ 10 Commercial real estate Owner-occupied 520 520 — 534 31 Non-owner occupied 10,203 10,205 — 10,675 294 Construction and development Land & land development 5,227 5,227 — 5,270 80 Construction — — — — — Residential real estate Non-jumbo 4,055 4,065 — 3,910 193 Jumbo 3,640 3,639 — 3,693 175 Home equity 524 523 — 523 22 Mortgage warehouse lines — — — — — Consumer 44 44 — 50 5 Total without a related allowance $ 24,498 $ 24,508 $ — $ 24,902 $ 810 With a related allowance Commercial $ — $ — $ — $ — $ — Commercial real estate Owner-occupied 6,864 6,864 347 6,879 269 Non-owner occupied 1,311 1,311 197 1,327 43 Construction and development Land & land development 2,066 2,066 585 2,074 80 Construction — — — — — Residential real estate Non-jumbo 2,055 2,057 251 1,851 78 Jumbo 853 853 24 862 44 Home equity — — — — — Mortgage warehouse lines — — — — — Consumer — — — — — Total with a related allowance $ 13,149 $ 13,151 $ 1,404 $ 12,993 $ 514 Total Commercial $ 26,476 $ 26,478 $ 1,129 $ 27,006 $ 807 Residential real estate 11,127 11,137 275 10,839 512 Consumer 44 44 — 50 5 Total $ 37,647 $ 37,659 $ 1,404 $ 37,895 $ 1,324 December 31, 2015 Dollars in thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Impaired Balance Interest Income Recognized while impaired Without a related allowance Commercial $ 242 $ 242 $ — $ 319 $ 17 Commercial real estate Owner-occupied 5,401 5,402 — 5,438 191 Non-owner occupied 10,740 10,741 — 9,982 310 Construction and development Land & land development 7,635 7,635 — 9,497 263 Construction — — — — — Residential real estate Non-jumbo 3,590 3,600 — 3,316 160 Jumbo 3,871 3,869 — 4,412 181 Home equity 709 709 — 709 32 Consumer 68 68 — 72 6 Total without a related allowance $ 32,256 $ 32,266 $ — $ 33,745 $ 1,160 With a related allowance Commercial $ — $ — $ — $ — $ — Commercial real estate Owner-occupied 2,997 2,997 45 3,003 135 Non-owner occupied 2,709 2,709 386 2,728 72 Construction and development Land & land development 1,139 1,139 85 1,154 — Construction — — — — — Residential real estate Non-jumbo 2,530 2,531 226 2,552 114 Jumbo 871 871 34 878 43 Home equity — — — — — Consumer — — — — — Total with a related allowance $ 10,246 $ 10,247 $ 776 $ 10,315 $ 364 Total Commercial $ 30,863 $ 30,865 $ 516 $ 32,121 $ 988 Residential real estate 11,571 11,580 260 11,867 530 Consumer 68 68 — 72 6 Total $ 42,502 $ 42,513 $ 776 $ 44,060 $ 1,524 The average recorded investment of impaired loans during 2014 was $46.6 million and $1.8 million interest income was recognized on those loans while impaired. A modification of a loan is considered a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification constitutes a concession that we would not otherwise consider. This may include a transfer of real estate or other assets from the borrower, a modification of loan terms, or a combination of both. A loan continues to be classified as a TDR for the life of the loan. Included in impaired loans are TDRs of $28.6 million , of which $28.1 million were current with respect to restructured contractual payments at December 31, 2016 and $30.5 million , of which $28.9 million were current with respect to restructured contractual payments at December 31, 2015 . There were no commitments to lend additional funds under these restructurings at either balance sheet date. The following table presents by class the TDRs that were restructured during 2016 and 2015 . Generally, the modifications were extensions of term, modifying the payment terms from principal and interest to interest only for an extended period, or reduction in interest rate. All TDRs are evaluated individually for allowance for loan loss purposes. 2016 2015 Dollars in thousands Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Commercial — $ — $ — — $ — $ — Commercial real estate Owner-occupied — — — — — — Non-owner occupied — — — — — — Construction and development Land & land development — — — 1 1,182 1,182 Construction — — — — — — Residential real estate Non-jumbo 4 693 696 1 25 25 Jumbo — — — — — — Home equity — — — — — — Mortgage warehouse lines — — — — — — Consumer 1 2 2 1 2 2 Total 5 $ 695 $ 698 3 $ 1,209 $ 1,209 The following table presents defaults during the stated period of TDRs that were restructured during the past twelve months. For purposes of these tables, a default is considered as either the loan was past due 30 days or more at any time during the period, or the loan was fully or partially charged off during the period. 2016 2015 Dollars in thousands Number of Defaults Recorded Investment at Default Date Number of Defaults Recorded Investment at Default Date Commercial — $ — — $ — Commercial real estate Owner-occupied — — — — Non-owner occupied — — — — Construction and development Land & land development — — 1 1,182 Construction — — — — Residential real estate Non-jumbo 3 452 — — Jumbo — — — — Home equity — — — — Mortgage warehouse lines — — — — Consumer 1 2 — — Total 4 $ 454 1 $ 1,182 The following table details the activity regarding TDRs by loan type during 2016 and the related allowance on TDRs. 2016 Construction & Land Development Commercial Real Estate Residential Real Estate Dollars in thousands Land & Land Develop- ment Construc- tion Commer- cial Owner Occupied Non- Owner Occupied Non- jumbo Jumbo Home Equity Mortgage Warehouse Lines Con- sumer Other Total Troubled debt restructurings Balance January 1, 2016 $ 4,189 $ — $ 242 $ 9,314 $ 6,059 $ 5,496 $ 4,635 $ 523 $ — $ 67 $ — $ 30,525 Additions — — — — — 696 — — — 2 — 698 Charge-offs — — — (129 ) — (52 ) — — — — — (181 ) Net (paydowns) advances (323 ) — (59 ) (491 ) (656 ) (717 ) (141 ) — — (25 ) — (2,412 ) Transfer into foreclosed properties — — — — — — — — — — — — Refinance out of TDR status — — — — — — — — — — — — Balance, December 31, 2016 $ 3,866 $ — $ 183 $ 8,694 $ 5,403 $ 5,423 $ 4,494 $ 523 $ — $ 44 $ — $ 28,630 Allowance related to troubled debt restructurings $ 530 $ — $ — $ 544 $ — $ 251 $ 24 $ — $ — $ — $ — $ 1,349 We categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. We analyze loans individually by classifying the loans as to credit risk. We internally grade all commercial loans at the time of loan origination. In addition, we perform an annual loan review on all non-homogenous commercial loan relationships with an aggregate exposure of $2.5 million , at which time these loans are re-graded. We use the following definitions for our risk grades: Pass: Loans graded as Pass are loans to borrowers of acceptable credit quality and risk. They are higher quality loans that do not fit any of the other categories described below. OLEM (Special Mention): Commercial loans categorized as OLEM are potentially weak. The credit risk may be relatively minor yet represent a risk given certain specific circumstances. If the potential weaknesses are not monitored or mitigated, the asset may weaken or inadequately protect our position in the future. Substandard: Commercial loans categorized as Substandard are inadequately protected by the borrower’s ability to repay, equity and/or the collateral pledged to secure the loan. These loans have identified weaknesses that could hinder normal repayment or collection of the debt. These loans are characterized by the distinct possibility that we will sustain some loss if the identified weaknesses are not mitigated. Doubtful: Commercial loans categorized as Doubtful have all the weaknesses inherent in those loans classified as Substandard, with the added elements that the full collection of the loan is improbable and the possibility of loss is high. Loss: Loans classified as loss are considered to be non-collectible and of such little value that their continuance as a bankable asset is not warranted. This does not mean that the loan has absolutely no recovery value, but rather it is neither practical nor desirable to defer writing off the loan, even though partial recovery may be obtained in the future. The following table presents the recorded investment in construction and development, commercial and commercial real estate loans which are generally evaluated based upon the internal risk ratings defined above. Loan Risk Profile by Internal Risk Rating Construction and Development Commercial Real Estate Land and Land Development Construction Commercial Owner Occupied Non-Owner Occupied Mortgage Warehouse Lines Dollars in thousands 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 Pass $ 64,144 $ 57,155 $ 16,584 $ 9,970 $ 117,214 $ 95,174 $ 201,113 $ 202,226 $ 375,181 $ 329,861 $ 85,966 $ — OLEM (Special Mention) 2,097 1,598 — — 1,471 1,295 567 546 1,381 1,602 — — Substandard 5,801 6,747 — — 403 732 1,367 783 5,359 5,831 — — Doubtful — — — — — — — — — — — — Loss — — — — — — — — — — — — Total $ 72,042 $ 65,500 $ 16,584 $ 9,970 $ 119,088 $ 97,201 $ 203,047 $ 203,555 $ 381,921 $ 337,294 $ 85,966 $ — The following table presents the recorded investment in consumer, residential real estate and home equity loans, which are generally evaluated based on the aging status of the loans, which was previously presented, and payment activity. Performing Nonperforming Dollars in thousands 2016 2015 2016 2015 Residential real estate Non-jumbo $ 261,020 $ 218,763 $ 4,621 $ 2,987 Jumbo 65,628 50,313 — — Home Equity 74,402 74,042 194 258 Consumer 25,368 19,149 166 102 Other 9,489 11,669 — — Total $ 435,907 $ 373,936 $ 4,981 $ 3,347 Industry concentrations: At December 31, 2016 and 2015 , we had no concentrations of loans to any single industry in excess of 10% of total loans. Loans to related parties : We have had, and may be expected to have in the future, banking transactions in the ordinary course of business with our directors, principal officers, their immediate families and affiliated companies in which they are principal shareholders (commonly referred to as related parties). These transactions have been, in our opinion, on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with others. The following presents the activity with respect to related party loans aggregating $60,000 or more to any one related party (other changes represent additions to and changes in director and executive officer status): Dollars in thousands 2016 2015 Balance, beginning $ 22,974 $ 20,586 Additions 33,004 11,095 Amounts collected (12,318 ) (6,142 ) Other changes, net (1,662 ) (2,565 ) Balance, ending $ 41,998 $ 22,974 |
Allowance For Loan Losses
Allowance For Loan Losses | 12 Months Ended |
Dec. 31, 2016 | |
Allowance for Loan and Lease Losses Write-offs, Net [Abstract] | |
Allowance for Loan Losses | ALLOWANCE FOR LOAN LOSSES The allowance for loan losses is maintained at a level considered adequate to provide for our estimate of probable credit losses inherent in the loan portfolio. The allowance is increased by provisions charged to operating expense and reduced by net charge-offs. Loans are charged against the allowance for loan losses when we believe that collectability is unlikely. While we use the best information available to make our evaluation, future adjustments may be necessary if there are significant changes in conditions. The allowance is comprised of three distinct reserve components: (1) specific reserves related to loans individually evaluated, (2) quantitative reserves related to loans collectively evaluated and (3) qualitative reserves related to loans collectively evaluated. A summary of the methodology we employ on a quarterly basis with respect to each of these components in order to evaluate the overall adequacy of our allowance for loan losses is as follows. Specific Reserve for Loans Individually Evaluated First, we identify loan relationships having aggregate balances in excess of $500,000 and that may also have credit weaknesses. Such loan relationships are identified primarily through our analysis of internal loan evaluations, past due loan reports and loans adversely classified internally or by regulatory authorities. Each loan so identified is then individually evaluated to determine whether it is impaired – that is, based on current information and events, it is probable that we will be unable to collect all amounts due in accordance with the contractual terms of the underlying loan agreement. Substantially all of our impaired loans historically have been collateral dependent, meaning repayment of the loan is expected or is considered to be provided solely from the sale of the loan’s underlying collateral. For such loans, we measure impairment based on the fair value of the loan’s collateral, which is generally determined utilizing current appraisals. A specific reserve is established in an amount equal to the excess, if any, of the recorded investment in each impaired loan over the fair value of its underlying collateral, less estimated costs to sell. Our policy is to re-evaluate the fair value of collateral dependent loans at least every twelve months unless there is a known deterioration in the collateral’s value, in which case a new appraisal is obtained. Beginning in 2014, for purposes of loans that have been modified in a troubled debt restructuring and not internally graded as substandard, doubtful, or loss ("performing TDRs") we began measuring impairment using the discounted cash flows method. Under this method, a specific reserve is established in an amount equal to the excess, if any, of the recorded investment in each impaired loan over its discounted cash flows. PCI loans are individually evaluated. The evaluation of the PCI loans requires continued quarterly assessment of key assumptions and estimates similar to the initial fair value estimate, including changes in the severity of loss, timing and speed of payments, collateral value changes, expected cash flows and other relevant factors. The quarterly assessment is compared to the initial fair value estimate and a determination is made if an adjustment to the allowance for loan loss is deemed necessary. Quantitative Reserve for Loans Collectively Evaluated Second, we stratify the loan portfolio into the following eleven loan pools: land and land development, construction, commercial, commercial real estate - owner occupied, commercial real estate - non-owner occupied, conventional residential mortgage, jumbo residential mortgage, home equity, mortgage warehouse lines, consumer and other. Quantitative reserves relative to each loan pool are established as follows: for all loan segments detailed above an allocation equaling 100% of the respective pool’s average 12 month historical net loan charge-off rate (determined based upon the most recent twelve quarters) is applied to the aggregate recorded investment in the pool of loans. Purchased performing loans are collectively evaluated as their own separate category within each loan pool. The reserve on each pool is compared to the estimated fair value credit discount to determine if this discount remains adequate. If any credit discount is not adequate, additional reserves will be recognized. Qualitative Reserve for Loans Collectively Evaluated Third, we consider the necessity to adjust our average historical net loan charge-off rates relative to each of the above eleven loan pools for potential risks factors that could result in actual losses deviating from prior loss experience. For example, if we observe a significant increase in delinquencies within the conventional mortgage loan pool above historical trends, an additional allocation to the average historical loan charge-off rate is applied. Such qualitative risk factors considered are: (1) levels of and trends in delinquencies and impaired loans, (2) levels of and trends in charge-offs and recoveries, (3) trends in volume and term of loans, (4) effects of any changes in risk selection and underwriting standards and other changes in lending policies, procedures and practice, (5) experience, ability and depth of lending management and other relevant staff, (6) national and local economic trends and conditions, (7) industry conditions and (8) effects of changes in credit concentrations. An analysis of the allowance for loan losses for the years ended December 31, 2016 , 2015 and 2014 is as follows: Dollars in thousands 2016 2015 2014 Balance, beginning of year $ 11,472 $ 11,167 $ 12,659 Losses: Commercial 489 77 390 Commercial real estate Owner occupied 179 559 11 Non-owner occupied 124 178 — Construction and development Land and land development 127 457 3,535 Construction 9 — — Residential real estate Non-jumbo 169 417 435 Jumbo — 208 65 Home equity 175 76 14 Mortgage warehouse lines — — — Consumer 98 69 265 Other 185 110 118 Total 1,555 2,151 4,833 Recoveries: Commercial 73 10 34 Commercial real estate Owner occupied 31 290 40 Non-owner occupied 17 13 318 Construction and development Land and land development 840 456 298 Construction — — — Real estate - mortgage Non-jumbo 136 107 87 Jumbo 6 96 163 Home equity 3 3 4 Mortgage warehouse lines — — — Consumer 76 105 74 Other 75 126 73 Total 1,257 1,206 1,091 Net losses 298 945 3,742 Provision for loan losses 500 1,250 2,250 Balance, end of year $ 11,674 $ 11,472 $ 11,167 Activity in the allowance for loan losses by loan class during 2016 and 2015 is as follows: 2016 Allowance for loan losses Allowance related to: Loans Beginning Balance Charge- offs Recoveries Provision Ending Balance Loans individua- lly evaluated for impairm- ent Loans collective- ly evaluated for impairm- ent Loans acquired with deteriora- ted credit quality Total Loans individua- lly evaluated for impairm- ent Loans collectively evaluated for impairment Loans Total Commercial $ 781 $ (489 ) $ 73 $ 569 $ 934 $ — $ 934 $ — $ 934 $ 285 $ 118,803 $ — $ 119,088 Commercial real estate Owner occupied 1,589 (179 ) 31 668 2,109 347 1,762 — 2,109 7,384 195,663 — 203,047 Non-owner occupied 2,977 (124 ) 17 568 3,438 197 3,241 — 3,438 11,514 370,407 — 381,921 Construction and development Land and land development 2,852 (127 ) 840 (1,302 ) 2,263 585 1,678 — 2,263 7,293 64,354 — 71,647 Construction 15 (9 ) — 18 24 — 24 — 24 — 16,584 — 16,584 Residential real estate Non-jumbo 1,253 (169 ) 136 954 2,174 251 1,923 — 2,174 6,110 258,741 — 264,851 Jumbo 1,593 — 6 (1,504 ) 95 24 71 — 95 4,493 60,119 — 64,612 Home equity 253 (175 ) 3 332 413 — 413 — 413 524 74,072 — 74,596 Mortgage warehouse lines — — — — — — — — — — 85,966 — 85,966 Consumer 59 (98 ) 76 84 121 — 121 — 121 44 25,490 — 25,534 Other 100 (185 ) 75 113 103 — 103 — 103 — 9,489 — 9,489 PCI — — — — — — — — — — — 2,201 2,201 Total $ 11,472 $ (1,555 ) $ 1,257 $ 500 $ 11,674 $ 1,404 $ 10,270 $ — $ 11,674 $ 37,647 $ 1,279,688 $ 2,201 $ 1,319,536 2015 Allowance for loan losses Allowance related to: Loans Beginning Balance Charge- offs Recoveries Provision Ending Balance Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Commercial $ 1,204 $ (77 ) $ 10 $ (356 ) $ 781 $ — $ 781 $ 781 $ 242 $ 96,959 $ 97,201 Commercial real estate Owner occupied 927 (559 ) 290 931 1,589 45 1,544 1,589 8,399 195,156 203,555 Non-owner occupied 1,316 (178 ) 13 1,826 2,977 386 2,591 2,977 13,450 323,844 337,294 Construction and development Land and land development 3,417 (457 ) 456 (564 ) 2,852 85 2,767 2,852 8,774 56,726 65,500 Construction 427 — — (412 ) 15 — 15 15 — 9,970 9,970 Residential real estate Non-jumbo 1,280 (417 ) 107 283 1,253 225 1,028 1,253 6,131 215,619 221,750 Jumbo 2,081 (208 ) 96 (376 ) 1,593 35 1,558 1,593 4,740 45,573 50,313 Home equity 187 (76 ) 3 139 253 — 253 253 709 73,591 74,300 Consumer 97 (69 ) 105 (74 ) 59 — 59 59 68 19,183 19,251 Other 231 (110 ) 126 (147 ) 100 — 100 100 — 11,669 11,669 Total $ 11,167 $ (2,151 ) $ 1,206 $ 1,250 $ 11,472 $ 776 $ 10,696 $ 11,472 $ 42,513 $ 1,048,290 $ 1,090,803 |
Property Held For Sale
Property Held For Sale | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract] | |
Property Held For Sale | PROPERTY HELD FOR SALE Property held for sale consists of premises held for sale and real estate acquired through foreclosure on loans secured by such real estate. Qualifying premises are transferred to property held for sale at estimated fair value less anticipated selling costs, establishing a new cost basis. Foreclosed property is recorded at the lower of the investment in the real estate or estimated fair value less anticipated selling costs based upon the property’s appraised value at the date of foreclosure, with any difference between the fair value of foreclosed property and the carrying value of the related loan charged to the allowance for loan losses. We perform periodic valuations of property held for sale subsequent to transfer. Changes in value subsequent to transfer are recorded in noninterest expense. Gains or losses not previously recognized resulting from the sale of property held for sale is recognized on the date of sale and is included in noninterest expense. Depreciation is not recorded on property held for sale. Expenses incurred in connection with operating foreclosed properties are charged to noninterest expense. The following table presents the activity of property held for sale during 2016 , 2015 and 2014 . Dollars in thousands 2016 2015 2014 Beginning balance $ 25,567 $ 37,529 $ 53,392 Acquisitions 2,356 2,617 2,673 Acquisition of HCB 23 — — Capitalized improvements 463 39 87 Dispositions (3,237 ) (12,203 ) (14,852 ) Valuation adjustments (668 ) (2,415 ) (3,771 ) Balance at year end $ 24,504 $ 25,567 $ 37,529 At December 31, 2016, our foreclosed properties of consumer residential real estate totaled $880,000 . |
Premises And Equipment
Premises And Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | PREMISES AND EQUIPMENT Land is carried at cost, while premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed primarily by the straight-line method for premises and equipment over the estimated useful lives of the assets. The estimated useful lives employed are on average 30 years for premises and 3 to 10 years for furniture and equipment. Repairs and maintenance expenditures are charged to operating expenses as incurred. Major improvements and additions to premises and equipment, including construction period interest costs, are capitalized. No interest was capitalized during 2016 , 2015 , or 2014 . The major categories of premises and equipment and accumulated depreciation at December 31, 2016 and 2015 are summarized as follows: Dollars in thousands 2016 2015 Land $ 6,741 $ 6,308 Buildings and improvements 23,028 21,461 Furniture and equipment 15,447 14,552 45,216 42,321 Less accumulated depreciation 21,479 20,749 Total premises and equipment, net $ 23,737 $ 21,572 Depreciation expense for the years ended December 31, 2016 , 2015 and 2014 approximated $1.22 million , $1.08 million and $1.07 million , respectively. |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS On October 1, 2016, we completed the acquisition of HCB and acquired intangible assets of $1.6 million and recorded $4.8 million of preliminary goodwill. See Note 3 Acquisitions for additional information. Goodwill and certain other intangible assets with indefinite useful lives are not amortized into net income over an estimated life, but rather are tested at least annually for impairment. Intangible assets determined to have definite useful lives are amortized over their estimated useful lives and also are subject to impairment testing. We first determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the goodwill impairment test. The more-likely-than-not threshold is defined as having a likelihood of more than 50 percent. If, after assessing the totality of events or circumstances, we determine it is not more likely that the fair value of a reporting unit is less than its carrying amount, then performing the impairment test is unnecessary. However, if we conclude otherwise, then we perform an impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount of the reporting unit. Fair value is determined based on at least one of three various market valuation methodologies. If the fair value equals or exceeds the book value, no write-down of recorded goodwill is necessary. If the fair value is less than the book value, a charge may be required to write down the goodwill to the proper carrying value based upon additional analysis.Such additional analysis compares the implied fair value of the reporting unit goodwill with the carrying amount of the goodwill for the reporting unit. The implied fair value of goodwill is determined in the same manner as goodwill that is recognized in a business combination. During 2016, we completed our annual impairment test for our reporting units and determined that no impairment charges were necessary as follows: Community Banking – During third quarter 2016, we performed the Step 0 assessment of our goodwill of our community banking reporting unit and determined that it was not more likely than not that the fair value was less than its carrying value. In performing the qualitative Step 0 assessments, we considered certain events and circumstances such as macroeconomic conditions, industry and market considerations, overall financial performance and cost factors when evaluating whether it is more likely than not that the fair value is less than its carrying amount. No indicators of impairment were noted as of September 30, 2016. Insurance Services – During third quarter 2016, we performed the Step 0 assessment of our goodwill of our insurance services reporting unit. We considered certain events and circumstances specific to the reporting unit, such as macroeconomic conditions, industry and market considerations, overall financial performance and cost factors when evaluating whether it is more likely than not that the fair value of our insurance services reporting unit is less than its carrying value and deemed it necessary to perform the further 2-step impairment test. We performed an internal valuation utilizing the income approach to determine the fair value of our insurance services reporting unit. This methodology consisted of discounting the expected future cash flows of this unit based upon a forecast of its operations considering long-term key business drivers such as anticipated commission revenue growth. The long term growth rate used in determining the terminal value was estimated at 2.5% and a discount rate of 10.0% was applied to the insurance services unit’s estimated future cash flows. We did not fail this Step 1 test as of September 30, 2016, therefore Step 2 testing was not necessary. In addition, at December 31, 2016 and December 31, 2015 , we had $2.66 million and $1.30 million in unamortized identifiable assets comprised of $1.56 million core deposit intangible and $1.10 million customer intangible at December 31, 2016 and $1.30 million customer intangible at December 31, 2015 . Goodwill Activity Dollars in thousands Community Banking Insurance Services Total Balance, January 1, 2016 $ 1,488 $ 4,710 $ 6,198 Acquired goodwill, net 4,791 — 4,791 Balance, December 31, 2016 $ 6,279 $ 4,710 $ 10,989 Other Intangible Assets December 31, 2016 December 31, 2015 Dollars in thousands Community Banking Insurance Services Total Community Banking Insurances Services Total Unidentifiable intangible assets Gross carrying amount $ — $ — $ — $ 2,268 $ — $ 2,268 Less: accumulated amortization — — — 2,268 — 2,268 Net carrying amount $ — $ — $ — $ — $ — $ — Identifiable intangible assets Gross carrying amount $ 1,610 $ 3,000 $ 4,610 $ — $ 3,000 $ 3,000 Less: accumulated amortization 47 1,900 1,947 — 1,700 1,700 Net carrying amount $ 1,563 $ 1,100 $ 2,663 $ — $ 1,300 $ 1,300 Amortization relative to our identifiable intangible assets is as follows: Core Deposit Customer Dollars in thousands Intangible Intangible Actual: 2014 $ — $ 250 2015 — 200 2016 47 200 Expected: 2017 186 200 2018 175 200 2019 163 200 2020 151 200 2021 139 200 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Deposits [Abstract] | |
Deposits | DEPOSITS The following is a summary of interest bearing deposits by type as of December 31, 2016 and 2015 : Dollars in thousands 2016 2015 Demand deposits, interest bearing $ 262,591 $ 215,721 Savings deposits 337,348 266,825 Time deposits 545,843 465,153 Total $ 1,145,782 $ 947,699 Included in time deposits are deposits acquired through a third party (“brokered deposits”) totaling $205.7 million and $126.5 million at December 31, 2016 and 2015 , respectively. A summary of the scheduled maturities for all time deposits as of December 31, 2016 is as follows: Dollars in thousands Amount 2017 $ 268,023 2018 107,333 2019 60,416 2020 46,405 2021 36,137 Thereafter 27,529 Total $ 545,843 Time certificates of deposit in denominations of $100,000 or more totaled $413.1 million and $342.7 million at December 31, 2016 and 2015 , respectively. The following is a summary of the maturity distribution of all certificates of deposit in denominations of $100,000 or more as of December 31, 2016 : Dollars in thousands Amount Percent Three months or less $ 45,912 11.1 % Three through six months 75,066 18.2 % Six through twelve months 83,255 20.2 % Over twelve months 208,821 50.5 % Total $ 413,054 100.00 % The aggregate amount of time deposits in denominations that meet or exceed the FDIC insurance limit totaled $235.1 million at December 31, 2016. At December 31, 2016 and 2015 , our deposits of related parties including directors, executive officers and their related interests approximated $14.7 million and $21.2 million , respectively. |
Borrowed Funds
Borrowed Funds | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Borrowed Funds | BORROWED FUNDS Our subsidiary bank is a member of the Federal Home Loan Bank (“FHLB”). Membership in the FHLB makes available short-term and long-term advances under collateralized borrowing arrangements with each subsidiary bank. All FHLB advances are collateralized primarily by similar amounts of residential mortgage loans, certain commercial loans, mortgage backed securities and securities of U. S. Government agencies and corporations. We had $101.0 million available on a short term line of credit with the Federal Reserve Bank at December 31, 2016 , which is primarily secured by commercial and industrial loans and consumer loans. We also had $6 million available on an unsecured line of credit with a correspondent bank. At December 31, 2016 , our subsidiary banks had combined additional borrowings availability of $342.6 million from the FHLB. Short-term FHLB advances are granted for terms of 1 to 365 days and bear interest at a fixed or variable rate set at the time of the funding request. Short-term borrowings: At December 31, 2016 , we had $107.0 million borrowing availability through credit lines and Federal funds purchased agreements. Federal funds purchased mature the next business day. A summary of short-term borrowings is presented below. 2016 2015 Dollars in thousands Short-term FHLB Advances Federal Funds Purchased Short-term FHLB Advances Federal Funds Purchased Balance at December 31 $ 221,000 $ 3,461 $ 167,950 $ 3,444 Average balance outstanding for the period 187,420 3,456 146,412 4,690 Maximum balance outstanding at any month end during period 231,200 3,462 171,160 7,438 Weighted average interest rate for the period 0.79 % 0.75 % 0.43 % 0.50 % Weighted average interest rate for balances outstanding at December 31 0.60 % 0.51 % 0.35 % 0.26 % Long-term borrowings: Our long-term borrowings of $46.7 million and $75.6 million at December 31, 2016 and 2015 , respectively, consisted primarily of advances from the FHLB and structured repurchase agreements with unaffiliated institutions. All FHLB advances are collateralized primarily by similar amounts of residential mortgage loans, certain commercial loans, mortgage backed securities and securities of U. S. Government agencies and corporations. Balance at December 31, Dollars in thousands 2016 2015 Long-term FHLB advances $ 767 $ 873 Long-term repurchase agreements 45,000 72,000 Term loan 903 2,708 Total $ 46,670 $ 75,581 The average interest rate paid on long-term borrowings during 2016 was 4.44% compared to 4.39% in 2015 . The term loan at December 31, 2016 is secured by the common stock of our subsidiary bank, bears a variable interest rate of prime minus 50 basis points with a final maturity of 2017. Our long term FHLB borrowings and reverse repurchase agreements bear both fixed and variable rates and mature in varying amounts through the year 2026. The long-term repurchase agreements mature in 2018. The securities underlying the repurchase agreements are under our control and secure the total outstanding balances. We generally account for securities sold under agreements to repurchase as collateralized financing transactions and record them at the amounts at which the securities were sold, plus accrued interest. Securities, generally U.S. government and Federal agency securities, pledged as collateral under these financing arrangements cannot be sold or repledged by the secured party. The fair value of collateral provided is continually monitored and additional collateral is provided as needed. At December 31, 2016, residential mortgage-backed securities issued by government sponsored agencies with a fair value of $48.0 million were pledged as collateral for the long-term repurchase agreements. Subordinated debentures owed to unconsolidated subsidiary trusts: We have three statutory business trusts that were formed for the purpose of issuing mandatorily redeemable securities (the “capital securities”) for which we are obligated to third party investors and investing the proceeds from the sale of the capital securities in our junior subordinated debentures (the “debentures”). The debentures held by the trusts are their sole assets. Our subordinated debentures totaled $ 19.6 million at December 31, 2016 and 2015 . In October 2002, we sponsored SFG Capital Trust I, in March 2004, we sponsored SFG Capital Trust II and in December 2005, we sponsored SFG Capital Trust III, of which 100% of the common equity of each trust is owned by us. SFG Capital Trust I issued $ 3.5 million in capital securities and $ 109,000 in common securities and invested the proceeds in $ 3.61 million of debentures. SFG Capital Trust II issued $ 7.5 million in capital securities and $ 232,000 in common securities and invested the proceeds in $ 7.73 million of debentures. SFG Capital Trust III issued $ 8.0 million in capital securities and $ 248,000 in common securities and invested the proceeds in $ 8.25 million of debentures. Distributions on the capital securities issued by the trusts are payable quarterly at a variable interest rate equal to 3 month LIBOR plus 345 basis points for SFG Capital Trust I, 3 month LIBOR plus 280 basis points for SFG Capital Trust II and 3 month LIBOR plus 145 basis points for SFG Capital Trust III and equals the interest rate earned on the debentures held by the trusts and is recorded as interest expense by us. The capital securities are subject to mandatory redemption in whole or in part, upon repayment of the debentures. We have entered into agreements which, taken collectively, fully and unconditionally guarantee the capital securities subject to the terms of the guarantee. The debentures of each Capital Trust are redeemable by us quarterly. The capital securities held by SFG Capital Trust I, SFG Capital Trust II and SFG Capital Trust III qualify as Tier 1 capital under Federal Reserve Board guidelines. In accordance with these Guidelines, trust preferred securities generally are limited to 25% of Tier 1 capital elements, net of goodwill. The amount of trust preferred securities and certain other elements in excess of the limit can be included in Tier 2 capital. A summary of the maturities of all long-term borrowings and subordinated debentures for the next five years and thereafter is as follows: Dollars in thousands Long-term borrowings Subordinated debentures owed to unconsolidated subsidiary trusts 2017 $ 918 $ — 2018 45,017 — 2019 18 — 2020 19 — 2021 20 — Thereafter 678 19,589 Total $ 46,670 $ 19,589 |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | DERIVATIVE FINANCIAL INSTRUMENTS We use derivative instruments primarily to protect against the risk of adverse interest rate movements on the cash flows of certain liabilities. Derivative instruments represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based upon a notional amount and an underlying as specified in the contract. A notional amount represents the number of units of a specific item, such as currency units. An underlying represents a variable, such as an interest rate or price index. The amount of cash or other asset delivered from one party to the other is determined based upon the interaction of the notional amount of the contract with the underlying. Derivatives can also be implicit in certain contracts and commitments. As with any financial instrument, derivative instruments have inherent risks, primarily market and credit risk. Market risk associated with changes in interest rates is managed by establishing and monitoring limits as to the degree of risk that may be undertaken as part of our overall market risk monitoring process. Credit risk occurs when a counterparty to a derivative contract with an unrealized gain fails to perform according to the terms of the agreement. Credit risk is managed by monitoring the size and maturity structure of the derivative portfolio and applying uniform credit standards to all activities with credit risk. All derivative instruments are recorded on the balance sheet at fair value. Changes in the fair value of derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Fair value hedges – For transactions in which we are hedging changes in fair value of an asset, liability, or a firm commitment, changes in the fair value of the derivative instrument are generally offset in the income statement by changes in the hedged item’s fair value. Cash flow hedges – For transactions in which we are hedging the variability of cash flows related to a variable-rate asset, liability, or a forecasted transaction, changes in the fair value of the derivative instrument are reported in other comprehensive income. The gains and losses on the derivative instrument, which are reported in comprehensive income, are reclassified to earnings in the periods in which earnings are impacted by the variability of cash flows of the hedged item. The ineffective portion of all hedges is recognized in current period earnings. Our derivatives are governed by the terms of ISDA Master netting agreements and Credit Support Annexes. The ISDA Master agreements allow counterparties to offset trades in a gain against trades in a loss to determine net exposure and allow for the right of offset in the event of either a default or an additional termination event. Credit Support Annexes govern the terms of daily collateral posting practices. Collateral practices mitigate the potential loss impact to affected parties by requiring liquid collateral to be posted on a scheduled basis to secure the aggregate net unsecured exposure. In addition to collateral, the right of offset allows counterparties to offset net derivative values with a defaulting party against certain other contractual receivables from or obligations due to the defaulting party in determining the net termination amount. We have entered into three forward-starting, pay-fixed/receive LIBOR interest rate swaps. $ 40 million notional with an effective date of July 18, 2016, was designated as a cash flow hedge of $ 40 million of forecasted variable rate Federal Home Loan Bank advances. Under the terms of this swap we will pay a fixed rate of 2.98% for a 3 year period. $ 30 million notional with an effective date of April 18, 2016, was designated as a cash flow hedge of $ 30 million of forecasted variable rate Federal Home Loan Bank advances. Under the terms of this swap we will pay a fixed rate of 2.89% for a 4.5 year period. $ 40 million notional with an effective date of October 18, 2016, was designated as a cash flow hedge of $ 40 million of forecasted variable rate Federal Home Loan Bank advances. Under the terms of this swap we will pay a fixed rate of 2.84% for a 3 year period. We have entered into two pay fixed/receive variable interest rate swaps to hedge the fair value variability of two commercial fixed rate loans with the same principal, amortization and maturity terms of the underlying loans, which are designated as fair value hedges. Under the terms of a $9.95 million original notional swap with an effective date of January 15, 2015, we will pay a fixed rate of 4.33% for a 10 year period. Under the terms of an $11.3 million original notional swap with an effective date of December 18, 2015, we will pay a fixed rate of 4.30% for a 10 year period. A summary of our derivative financial instruments as of December 31, 2016 and 2015 follows: December 31, 2016 Derivative Fair Value Net Ineffective Dollars in thousands Notional Amount Asset Liability Hedge Gains/(Losses) CASH FLOW HEDGES Pay-fixed/receive-variable interest rate swaps Short term borrowings $ 110,000 $ — $ 4,611 $ — FAIR VALUE HEDGES Pay-fixed/receive-variable interest rate swaps Commercial real estate loans $ 20,507 $ 200 $ — $ — December 31, 2015 Derivative Fair Value Net Ineffective Dollars in thousands Notional Amount Asset Liability Hedge Gains/(Losses) CASH FLOW HEDGES Pay-fixed/receive-variable interest rate swaps Short term borrowings $ 110,000 $ — $ 5,071 $ — FAIR VALUE HEDGES Pay-fixed/receive-variable interest rate swaps Commercial real estate loans $ 21,250 $ 94 $ 95 $ — Loan commitments: ASC Topic 815, Derivatives and Hedging, requires that commitments to make mortgage loans should be accounted for as derivatives if the loans are to be held for sale, because the commitment represents a written option and accordingly is recorded at the fair value of the option liability. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES Income taxes, computed on the separate return basis with the benefit of filing a consolidated return being recorded at the holding company, includes Federal and state income taxes and is based on pretax net income reported in the consolidated financial statements, adjusted for transactions that may never enter into the computation of income taxes payable (permanent differences). Deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Valuation allowances are established when deemed necessary to reduce deferred tax assets to the amount expected to be realized. A tax position that meets a "probable recognition threshold" for the benefit of the uncertain tax position is recognized in the financial statements. A tax position that fails to meet the probable recognition threshold will result in either reduction of a current or deferred tax asset or receivable, or recording a current or deferred tax liability. We concluded that there were no significant uncertain tax positions requiring recognition in the consolidated financial statements. The evaluation was performed for the years ended 2013 through 2016, the tax years which remain subject to examination by major tax jurisdictions. The components of applicable income tax expense for the years ended December 31, 2016 , 2015 and 2014 , are as follows: Dollars in thousands 2016 2015 2014 Current Federal $ 7,738 $ 6,219 $ 3,380 State 627 484 294 8,365 6,703 3,674 Deferred Federal (353 ) 165 920 State (4 ) 25 84 (357 ) 190 1,004 Total $ 8,008 $ 6,893 $ 4,678 Reconciliation between the amount of reported income tax expense and the amount computed by multiplying the statutory income tax rates by book pretax income for the years ended December 31, 2016 , 2015 and 2014 is as follows: 2016 2015 2014 Dollars in thousands Amount Percent Amount Percent Amount Percent Computed tax at applicable statutory rate $ 8,857 35 $ 8,048 35 $ 5,612 35 Increase (decrease) in taxes resulting from: Tax-exempt interest and dividends, net (1,080 ) (4 ) (1,047 ) (4 ) (996 ) (6 ) State income taxes, net of Federal income tax benefit 405 2 331 1 245 1 Non-deductible merger-related expenses 108 — — — — — Low-income housing and rehabilitation tax credits (55 ) — — — — — Other, net (227 ) (1 ) (439 ) (2 ) (183 ) (1 ) Applicable income taxes $ 8,008 32 $ 6,893 30 $ 4,678 29 Deferred income taxes reflect the impact of "temporary differences" between amounts of assets and liabilities for financial reporting purposes and such amounts as measured for tax purposes. Deferred tax assets and liabilities represent the future tax return consequences of temporary differences, which will either be taxable or deductible when the related assets and liabilities are recovered or settled. The tax effects of temporary differences, which give rise to our deferred tax assets and liabilities as of December 31, 2016 and 2015 , are as follows: Dollars in thousands 2016 2015 Deferred tax assets Allowance for loan losses $ 4,320 $ 4,245 Depreciation 97 168 Foreclosed properties 4,184 4,506 Deferred revenue 38 — Deferred compensation 3,118 2,554 Other deferred costs and accrued expenses 440 387 Other-than-temporarily impaired securities 257 257 Net unrealized loss on securities available for sale 208 — Net unrealized loss on interest rate swaps 1,706 1,876 NOL and tax credit carryforwards — 25 Total 14,368 14,018 Deferred tax liabilities Accretion on tax-exempt securities — 3 Net unrealized gain on securities available for sale — 1,609 Purchase accounting adjustments and goodwill 701 743 Total 701 2,355 Net deferred tax assets $ 13,667 $ 11,663 We may from time to time be assessed interest or penalties associated with tax liabilities by major tax jurisdictions, although any such assessments are estimated to be minimal and immaterial. To the extent we have received an assessment for interest and/or penalties; it has been classified in the consolidated statements of income as a component of other noninterest expense. We are currently open to audit under the statute of limitations by the Internal Revenue Service for the years ended December 31, 2013 through 2015. Tax years 2014 through 2015 remain subject to West Virginia State examination. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2016 | |
Employee Benefits and Share-based Compensation [Abstract] | |
Employee Benefits | EMPLOYEE BENEFITS Retirement Plans: We have defined contribution profit-sharing plans with 401(k) provisions covering substantially all employees. Contributions to the plans are at the discretion of the Board of Directors. Contributions made to the plans and charged to expense were $381,000 , $360,000 and $362,000 for the years ended December 31, 2016 , 2015 and 2014 , respectively. Employee Stock Ownership Plan: We have an Employee Stock Ownership Plan (“ESOP”), which enables eligible employees to acquire shares of our common stock. The cost of the ESOP is borne by us through annual contributions to an Employee Stock Ownership Trust in amounts determined by the Board of Directors. The expense recognized by us is based on cash contributed or committed to be contributed by us to the ESOP during the year. Contributions to the ESOP for the years ended December 31, 2016 , 2015 and 2014 were $635,000 , $429,000 and $714,000 respectively. Dividends paid by us to the ESOP are reported as a reduction of retained earnings. The ESOP owned 588,193 shares of our common stock at December 31, 2016 and 2015 , all of which were purchased at the prevailing market price.All but 146,539 unallocated shares at December 31, 2016 are considered outstanding for earnings per share computations. On July 30, 2015, our ESOP purchased 225,000 shares of Summit Financial Group Inc. common stock in a privately negotiated transaction, at $10.80 per share for a total purchase price of $2,430,000 . On July 21, 2015, our Board of Directors approved the company lending to our ESOP $2,250,000 to partially finance the purchase and was used to purchase 208,333 unallocated shares. Thepurchase of unallocated ESOP shares is shown as a reduction of shareholders' equity, similar to a purchase of treasury stock. The loan receivable from the ESOP to the Company is not reported as an asset nor is the debt of the ESOP reported as a liability on the Company's Consolidated Balance Sheets. Cash dividends on allocated shares (those credited to ESOP participants' accounts) are recorded as a reduction of shareholders' equity and distributed directly to participants' accounts. Cash dividends on unallocated shares (those held by the ESOP not yet credited to participants' accounts) are used to pay a portion of the ESOPs debt service requirements. Unallocated ESOP shares will be allocated to ESOP participants ratably as the ESOP's loan is repaid. When the shares are committed to be released and become available for allocation to plan participants, the then fair value of such shares will be charged to compensation expense. The ESOP shares as of December 31 are as follows: ESOP Shares At December 31, 2016 2015 Allocated shares 406,371 379,860 Shares committed to be released 35,283 26,511 Unallocated shares 146,539 181,822 Total ESOP shares 588,193 588,193 Market value of unallocated shares ( in thousands ) $ 4,034 $ 2,160 Supplemental Executive Retirement Plan: We have certain non-qualified Supplemental Executive Retirement Plans (“SERP”) with certain senior officers, which provide participating officers with an income benefit payable at retirement age or death. The liabilities accrued for the SERP’s at December 31, 2016 and 2015 were $4.9 million and $4.3 million , respectively, which are included in other liabilities. Included in salaries, commissions and employee benefits was $510,000 , $539,000 and $483,000 expense related to these SERPS for the years December 31, 2016, 2015 and 2014, respectively. Share-Based Compensation: The 2014 Long-Term Incentive Plan (“2014 LTIP”) was adopted by our shareholders in May 2014 to enhance the ability of the Company to attract and retain exceptionally qualified individuals to serve as key employees. The LTIP provides for the issuance of up to 500,000 shares of common stock, in the form of equity awards including stock options, restricted stock, restricted stock units, stock appreciation rights ("SARs"), performance units, other stock-based awards or any combination thereof, to our key employees. Stock options awarded under the 2009 Officer Stock Option Plan and the 1998 Officer Stock Option Plan (collectively, the “Plans”) were not altered by the 2014 LTIP and remain subject to the terms of the Plans. However, under the terms of the 2014 LTIP, all shares of common stock remaining issuable under the Plans at the time the 2014 LTIP was adopted ceased to be available for future issuance. Under the 2014 LTIP and the Plans, stock options and SARs have generally been granted with an exercise price equal to the fair value of Summit's common stock on the grant date. We periodically grant share based compensation to individual employees. During second quarter 2015, we granted 166,717 SARs with a $6.01 grant date fair value per SAR that become exercisable ratably over five years ( 20% per year) and expire ten years after the grant date. There were no grants of stock options or SARs in 2016 and no grants of stock options in 2015. The fair value of our employee stock options and SARs granted under the Plans is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that would otherwise have a significant effect on the value of employee stock options and SARs granted but are not considered by the model. Because our employee stock options and SARs have characteristics significantly different from those of traded options and because changes in the subjective input assumptions can materially affect the fair value estimate, in management’s opinion, the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options and SARs at the time of grant. The assumptions used to value SARs issued during 2015 were a risk-free interest rate of 1.96% , an expected dividend yield of 2.75% , an expected common stock volatility of 61.84% and an expected life of 10 years. We recognize compensation expense based on the estimated number of stock awards expected to actually vest, exclusive of the awards expected to be forfeited. During 2016, 2015 and 2014, our stock compensation expense totaled $200,000 , $151,000 and $1,000 , respectively, and the related income tax benefits recognized in 2016 and 2015 were $74,000 and $56,000 , respectively, with none recognized in 2014. A summary of activity in our Plans during 2014 , 2015 and 2016 is as follows: Weighted Average Dollars in thousands, except per share amounts Options / SARs Aggregate Remaining Contractual Term (Yrs.) Exercise Price Outstanding, December 31, 2013 185,410 $ 19.59 Granted — — Exercised (10,160 ) 6.98 Forfeited (6,500 ) 24.44 Expired (11,580 ) 16.64 Outstanding, December 31, 2014 157,170 $ 20.43 Granted 166,717 12.01 Exercised (6,560 ) 7.87 Forfeited — — Expired (73,180 ) 23.67 Outstanding, December 31, 2015 244,147 $ 14.05 Granted — — Exercised (24,740 ) 18.08 Forfeited — — Expired (1,550 ) 18.79 Outstanding, December 31, 2016 217,857 $ 3,044 6.92 $ 13.56 Exercisable Options/SARs: December 31, 2016 84,483 $ 974 4.73 $ 16.00 December 31, 2015 77,430 103 2.62 $ 18.43 December 31, 2014 156,170 124 2.20 $ 20.54 The total intrinsic value of options exercised in 2016, 2015 and 2014 was $240,000 , $25,000 and $38,000 , respectively. The total fair value of options vested during 2016, 2015 and 2014 was $200,000 , $1,000 and $3,000 , respectively. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Off-Balance Sheet Arrangements We are a party to certain financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of our customers. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the statement of financial position. The contract amounts of these instruments reflect the extent of involvement that we have in this class of financial instruments. Many of our lending relationships contain both funded and unfunded elements. The funded portion is reflected on our balance sheet. The unfunded portion of these commitments is not recorded on our balance sheet until a draw is made under the loan facility. Since many of the commitments to extend credit may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements. A summary of the total unfunded, or off-balance sheet, credit extension commitments follows: Dollars in thousands December 31, December 31, Commitments to extend credit: Revolving home equity and credit card lines $ 63,769 $ 58,008 Construction loans 41,472 32,044 Other loans 131,291 49,775 Standby letters of credit 3,895 5,302 Total $ 240,427 $ 145,129 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. We evaluate each customer's credit worthiness on a case-by-case basis. The amount of collateral obtained, if we deem necessary upon extension of credit, is based on our credit evaluation. Collateral held varies but may include accounts receivable, inventory, equipment or real estate. Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party and generally are of a term of no greater than one year. Our exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. We use the same credit policies in making commitments and conditional obligations as we do for on-balance sheet instruments. Operating leases We occupy certain facilities under long-term operating leases. The aggregate minimum annual rental commitments under those leases total approximately $270,000 in 2017 and $182,000 in 2018. Total net rent expense included in the accompanying consolidated financial statements was $261,000 in 2016, $285,000 in 2015 and $291,000 in 2014. Employment Agreements We have various employment agreements with our executive officers and other key employees. These agreements contain change in control provisions that would entitle the officers to receive compensation in the event there is a change in control in the Company (as defined) and a termination of their employment without cause (as defined). Legal Contingencies On May 13, 2014, the ResCap Liquidating Trust (“ResCap”), as successor to Residential Funding Company, LLC f/k/a Residential Funding Corporation (“RFC”), filed a complaint against Summit Financial Mortgage, LLC (“Summit Mortgage”), a former residential mortgage subsidiary of Summit whose operations were discontinued in 2007, in the United States Bankruptcy Court for the Southern District of New York and subsequently amended its complaint on July 25, 2014. The Amended Complaint asserts the following three causes of action related to Summit Mortgage’s origination and subsequent sale of mortgage loans to Residential Funding Corporation: 1) Summit Mortgage breached its representations and warranties made in the contract governing the sale of the mortgage loans to RFC; 2) an indemnification claim against Summit Mortgage for damages paid by ResCap to settle claims in RFC’s bankruptcy proceeding which allegedly relate to mortgage loans Summit Mortgage sold to RFC; 3) a claim for damages against Summit Community Bank, Inc., former parent of Summit Mortgage, arising out of a guaranty in which the Bank guaranteed Summit Mortgage’s full performance under the contract governing the sale of mortgage loans to RFC. Summit has filed a motion to dismiss the case. Based upon the applicable statute of limitations, the Court granted our motion to dismiss the breach of contract claim with respect to loans Summit sold to RFC prior to March 14, 2006. The court otherwise denied our motion to dismiss on the grounds that the other arguments raised factual questions that could not be decided on a motion to dismiss. The outcome of the case is expected to be driven primarily by expert testimony. Expert discovery has not yet begun. Accordingly, an estimate as to possible loss, if any, resulting from the Amended Complaint cannot be provided at this time. Summit intends to defend these claims vigorously. On January 23, 2017, the ResCap Liquidating Trust (“ResCap”), as successor to Residential Funding Company, LLC f/k/a Residential Funding Corporation (“RFC”), filed a complaint against Summit Community Bank, Inc., as successor to Shenandoah Valley Community Bank (“Summit”), in the United States District Court for the District of Minnesota. The complaint asserts the following two causes of action related to Summit’s origination and subsequent sale of mortgage loans to RFC: 1) Summit breached its representations and warranties made in the contract governing the sale of the mortgage loans to RFC; and 2) indemnification against Summit for damages paid to settle claims in RFC’s bankruptcy proceeding which allegedly relate to mortgage loans Summit sold to RFC. Summit has not yet filed a response to the Complaint. The outcome of the case is expected to be driven primarily by expert testimony. Expert discovery has not yet begun. Accordingly, an estimate as to possible loss, if any, resulting from the Complaint cannot be provided at this time. Summit intends to defend these claims vigorously. We are not a party to any other litigation except for matters that arise in the normal course of business. While it is impossible to ascertain the ultimate resolution or range of financial liability with respect to these contingent matters, in the opinion of management, the outcome of these matters will not have a significant adverse effect on the consolidated financial statements. |
Preferred Stock Preferred Stock
Preferred Stock Preferred Stock | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Preferred Stock | PREFERRED STOCK On September 30, 2009, we sold in a private placement 3,710 shares, or $3.7 million , of 8% Non-Cumulative Convertible Preferred Stock, Series 2009, $1.00 par value, with a liquidation preference of $1,000 per share (the “Series 2009 Preferred Stock”), based on the private placement exemption under Section 4(2) of the Securities Act of 1933 (the “Securities Act”) and Rule 506 of Regulation D. In late 2011, we sold pursuant to both subscription rights distributed to our common shareholders and to a supplemental public offering 12,000 shares, or $6.0 million , of 8% Non-Cumulative Convertible Preferred Stock, Series 2011, $1.00 par value, with a liquidation preference of $500 per share (the “Series 2011 Preferred Stock”). Both the Series 2009 and Series 2011 Preferred Stock paid noncumulative dividends, if and when declared by the Board of Directors, at a rate of 8.0% per annum. Dividends declared were payable quarterly in arrears on the 1 st day of March, June, September and December of each year. The Series 2009 and Series 2011 Preferred Stock qualified as Tier 1 capital for regulatory capital purposes. On March 12, 2015, we converted all outstanding shares of our 8% Non-Cumulative Convertible Preferred Stock, Series 2009, $1.00 par value, with a liquidation preference of $1,000 per share (the “Series 2009 Preferred Stock”) and our 8% Non-Cumulative Convertible Preferred Stock, Series 2011, $1.00 par value, with a liquidation preference of $500 per share (the “Series 2011 Preferred Stock”) to common shares. |
Common Stock Issuances
Common Stock Issuances | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Common Stock Issuances | COMMON STOCK ISSUANCES We entered into a Securities Purchase Agreement ("SPA") with Castle Creek Capital Partners V, LP ("Castle Creek") on August 25, 2014. In accordance with the terms of the SPA, we agreed to sell 1,057,137 shares of common stock (representing approximately 9.9% of our outstanding common stock) at the price of $9.75 per share to Castle Creek in a private placement. The private placement with Castle Creek consisted of two (2) closings. The first closing for the purchase of 819,384 shares of common stock at an aggregate price of $7,988,994 was consummated on November 25, 2014. The second closing for the purchase of 237,753 shares of common stock at an aggregate price of $2,318,092 was consummated on March 17, 2015 and was conditioned upon, among other things, the conversion into shares of common stock of all of the outstanding shares of our 8% Non-Cumulative Convertible Preferred Stock, Series 2009 and our 8% Non-Cumulative Convertible Preferred Stock, Series 2011 ("the Conversions"), in accordance with the terms of our Articles of Incorporation, as amended. We also agreed under the terms of the SPA to commence, following the second closing of the sale of Common Stock to Castle Creek under the SPA, a rights offering (the “Rights Offering”) to the holders of record of the Common Stock as of a date selected by Summit’s Board of Directors. In the Rights Offering, all holders of Common Stock as of the record date, excluding Castle Creek, were offered non-transferable rights (“Rights”) to purchase shares of Common Stock at the same per share purchase price of $9.75 used in the Private Placement to Castle Creek. The aggregate number of shares that offered for sale in connection with the Rights Offering was 256,410 with 256,167 shares being issued yielding total gross proceeds of approximately $2.5 million , prior to any fees and expenses associated with the sale. The Rights were distributed to all of the holders of the Common Stock, excluding Castle Creek, on a pro rata basis, based on the number of shares of Common Stock owned by each shareholder as of April 10, 2015, the record date used in connection with the Rights Offering. The Rights Offering expired May 29, 2015. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | REGULATORY MATTERS The primary source of funds for our dividends paid to our shareholders is dividends received from our subsidiaries. Dividends paid by the subsidiary bank are subject to restrictions by banking law and regulations and require approval by the bank’s regulatory agency if dividends declared in any year exceed the bank’s current year's net income, as defined, plus its retained net profits of the two preceding years. During 2017, the Bank will have $21.1 million plus net income for the interim periods through the date of declaration, available for dividends for distribution to us. We and our subsidiaries are subject to various regulatory capital requirements administered by the banking regulatory agencies. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we and each of our subsidiaries must meet specific capital guidelines that involve quantitative measures of our and our subsidiaries’ assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. We and each of our subsidiaries’ capital amounts and classifications 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 us and each of our subsidiaries to maintain minimum amounts and ratios of total and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier I capital (as defined) to average assets (as defined). We believe, as of December 31, 2016 , that we and our subsidiaries met all capital adequacy requirements to which they were subject. The most recent notifications from the banking regulatory agencies categorized us and each of our subsidiaries as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, we and each of our subsidiaries must maintain minimum total risk-based, Tier I risk-based and Tier I leverage ratios as set forth in the table below. Our subsidiary banks are required to maintain reserve balances with the Federal Reserve Bank. The required reserve balance was $1,740,000 at December 31, 2016 . Our actual capital amounts and ratios as well as our subsidiary, Summit Community Bank’s (“Summit Community”) are presented in the following table. Actual Minimum Required Capital - Basel III Fully Phased-in Minimum Required To Be Well Capitalized Dollars in thousands Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016 CET1 (to risk weighted assets) Summit $ 146,494 10.5 % $ 97,663 7.0 % $ 90,687 6.5 % Summit Community 165,747 11.9 % 97,498 7.0 % 90,534 6.5 % Tier I Capital (to risk weighted assets) Summit 164,357 11.8 % 118,393 8.5 % 111,428 8.0 % Summit Community 165,747 11.9 % 118,391 8.5 % 111,427 8.0 % Total Capital (to risk weighted assets) Summit 176,031 12.6 % 146,693 10.5 % 139,707 10.0 % Summit Community 177,421 12.7 % 146,687 10.5 % 139,702 10.0 % Tier I Capital (to average assets) Summit 164,357 9.4 % 69,939 4.0 % 87,424 5.0 % Summit Community 165,747 9.5 % 69,788 4.0 % 87,235 5.0 % As of December 31, 2015 CET1 (to risk weighted assets) Summit 137,849 11.8 % 81,775 7.0 % 75,934 6.5 % Summit Community 158,081 13.6 % 81,365 7.0 % 75,553 6.5 % Tier I Capital (to risk weighted assets) Summit 156,849 13.4 % 99,494 8.5 % 93,641 8.0 % Summit Community 158,081 13.6 % 98,801 8.5 % 92,989 8.0 % Total Capital (to risk weighted assets) Summit 168,321 14.4 % 122,734 10.5 % 116,890 10.0 % Summit Community 169,553 14.5 % 122,780 10.5 % 116,933 10.0 % Tier I Capital (to average assets) Summit 156,849 10.7 % 58,635 4.0 % 73,294 5.0 % Summit Community 158,081 10.8 % 58,549 4.0 % 73,186 5.0 % |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Information | SEGMENT INFORMATION We operate two business segments: community banking and insurance & financial services. These segments are primarily identified by the products or services offered. The community banking segment consists of our full service banks which offer customers traditional banking products and services through various delivery channels. The insurance & financial services segment includes three insurance agency offices that sell insurance products. The accounting policies discussed throughout the notes to the consolidated financial statements apply to each of our business segments. Inter-segment revenue and expense consists of management fees allocated to the community banking and the insurance & financial services segments for all centralized functions that are performed by the parent, including overall direction in the areas of strategic planning, investment portfolio management, asset/liability management, financial reporting and other financial and administrative services. Information for each of our segments is included below: December 31, 2016 Dollars in thousands Community Banking Insurance & Financial Services Parent Eliminations Total Net interest income $ 49,649 $ — $ (642 ) $ — $ 49,007 Provision for loan losses 500 — — — 500 Net interest income after provision for loan losses 49,149 — (642 ) — 48,507 Other income 7,213 4,400 1,541 (1,554 ) 11,600 Other expenses 29,482 4,053 2,821 (1,554 ) 34,802 Income (loss) before income taxes 26,880 347 (1,922 ) — 25,305 Income tax expense (benefit) 8,579 144 (715 ) — 8,008 Net income (loss) $ 18,301 $ 203 $ (1,207 ) $ — $ 17,297 Inter-segment revenue (expense) $ (1,441 ) $ (113 ) $ 1,554 $ — $ — Average assets $ 1,620,723 $ 5,984 $ 173,999 $ (201,109 ) $ 1,599,597 Capital expenditures $ 1,730 $ 36 $ 91 $ — $ 1,857 December 31, 2015 Dollars in thousands Community Banking Insurance & Financial Services Parent Eliminations Total Net interest income $ 46,744 $ — $ (728 ) $ — $ 46,016 Provision for loan losses 1,250 — — — 1,250 Net interest income after provision for loan losses 45,494 — (728 ) — 44,766 Other income 7,324 4,537 1,133 (1,133 ) 11,861 Other expenses 28,060 4,315 2,390 (1,133 ) 33,632 Income (loss) before income taxes 24,758 222 (1,985 ) — 22,995 Income tax expense (benefit) 7,542 43 (692 ) — 6,893 Net income (loss) $ 17,216 $ 179 $ (1,293 ) $ — $ 16,102 Inter-segment revenue (expense) $ (1,047 ) $ (86 ) $ 1,133 $ — $ — Average assets $ 1,496,396 $ 5,923 $ 167,839 $ (203,571 ) $ 1,466,587 Capital expenditures $ 2,530 $ 12 $ 46 $ — $ 2,588 December 31, 2014 Dollars in thousands Community Banking Insurance & Financial Services Parent Eliminations Total Net interest income $ 44,209 $ — $ (1,824 ) $ — $ 42,385 Provision for loan losses 2,250 — — — 2,250 Net interest income after provision for loan losses 41,959 — (1,824 ) — 40,135 Other income 6,299 4,882 1,231 (1,189 ) 11,223 Other expenses 30,579 4,188 1,746 (1,189 ) 35,324 Income (loss) before income taxes 17,679 694 (2,339 ) — 16,034 Income tax expense (benefit) 5,191 226 (739 ) — 4,678 Net income (loss) 12,488 468 (1,600 ) — 11,356 Dividends on preferred shares — — 771 — 771 Net income (loss) applicable to common shares $ 12,488 $ 468 $ (2,371 ) $ — $ 10,585 Inter-segment revenue (expense) $ (1,071 ) $ (118 ) $ 1,189 $ — $ — Average assets $ 1,466,521 $ 6,130 $ 164,769 $ (217,418 ) $ 1,420,002 Capital expenditures $ 470 $ 35 $ 6 $ — $ 511 |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE The computations of basic and diluted earnings per share follow: For the Year Ended December 31, 2016 2015 2014 Common Common Common Dollars in thousands, Income Shares Per Income Shares Per Income Shares Per except per share amounts (Numerator) (Denominator) Share (Numerator) (Denominator) Share (Numerator) (Denominator) Share Net income $ 17,297 $ 16,102 $ 11,356 Less preferred stock dividends — — (771 ) Basic EPS $ 17,297 10,689,224 $ 1.62 $ 16,102 10,295,434 $ 1.56 $ 10,585 7,539,444 $ 1.40 Effect of dilutive securities: Stock options 11,612 8,353 9,381 Stock appreciation rights (SARs) 16,035 — — Series 2011 convertible preferred stock — — — 285,610 476 1,489,735 Series 2009 convertible preferred stock — — — 125,878 295 673,001 Diluted EPS $ 17,297 10,716,871 $ 1.61 $ 16,102 10,715,275 $ 1.50 $ 11,356 9,711,561 $ 1.17 Stock option and SAR grants and the convertible preferred shares are disregarded in this computation if they are determined to be anti-dilutive. Our anti-dilutive stock options at December 31, 2016 , 2015 and 2014 , totaled 23,400 shares, 57,000 shares and 128,900 shares, respectively, and our anti-dilutive SARs at December 31, 2015 were 166,717 . |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 23. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following is changes in accumulated other comprehensive income (loss) by component, net of tax, for the years ending December 31, 2016 and 2015 . December 31, 2016 Dollars in thousands Gains and Losses on Cash Flow Hedges Unrealized Gains and Losses on Available-for-Sale Securities Total Beginning balance $ (3,195 ) $ 2,739 $ (456 ) Other comprehensive income (loss) before reclassification 289 (2,385 ) (2,096 ) Amounts reclassified from accumulated other comprehensive income — (710 ) (710 ) Net current period other comprehensive income (loss) 289 (3,095 ) (2,806 ) Ending balance $ (2,906 ) $ (356 ) $ (3,262 ) December 31, 2015 Dollars in thousands Gains and Losses on Cash Flow Hedges Unrealized Gains and Losses on Available-for-Sale Securities Total Beginning balance $ (1,834 ) $ 3,906 $ 2,072 Other comprehensive loss before reclassification (1,361 ) (257 ) (1,618 ) Amounts reclassified from accumulated other comprehensive income — (910 ) (910 ) Net current period other comprehensive loss (1,361 ) (1,167 ) (2,528 ) Ending balance $ (3,195 ) $ 2,739 $ (456 ) The following is significant amounts reclassified out of each component of accumulated other comprehensive income for the years ending December 31, 2016 and 2015 . December 31, 2016 Details about Accumulated Other Comprehensive Income Components Affective Line Item in the Statement Where Net Income is Presented Amount Reclassified From Accumulated Other Comprehensive Income Unrealized (gains) and losses on available-for-sale securities Net gains on sales of securities $ (1,127 ) Total before income taxes (1,127 ) Income tax expense 417 Total reclassifications for the period Net of income taxes $ (710 ) December 31, 2015 Details about Accumulated Other Comprehensive Income Components Affective Line Item in the Statement Where Net Income is Presented Amount Reclassified From Accumulated Other Comprehensive Income Unrealized (gains) and losses on available-for-sale securities Net gains on sales of securities $ (1,444 ) Total before income taxes (1,444 ) Income tax expense 534 Total reclassifications for the period Net of income taxes $ (910 ) |
Condensed Financial Statements
Condensed Financial Statements Of Parent Company | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Statements of Parent Company | CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY Information relative to our parent company balance sheets at December 31, 2016 and 2015 and the related statements of income and cash flows for the years ended December 31, 2016 , 2015 and 2014 , are presented as follows: Balance Sheets December 31, Dollars in thousands 2016 2015 Assets Cash $ 1,112 $ 1,984 Investment in subsidiaries, eliminated in consolidation 175,513 164,787 Securities available for sale 77 166 Premises and equipment 101 81 Other assets 2,158 1,677 Total assets $ 178,961 $ 168,695 Liabilities and Shareholders' Equity Long-term borrowings $ 903 $ 2,708 Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589 Other liabilities 3,109 2,654 Total liabilities 23,601 24,951 Preferred stock, $1.00 par value, authorized 250,000 shares — — Common stock and related surplus, $2.50 par value, authorized 20,000,000 shares; issued: 10,883,509 shares 2016, 10,853,566 shares 2015; outstanding: 10,736,970 shares 2016, 10,671,744 shares 2015 46,757 45,741 Unallocated common stock held by Employee Stock Ownership Plan - 2016 - 146,539 shares, 2015 - 181,822 shares (1,583 ) (1,964 ) Retained earnings 113,448 100,423 Accumulated other comprehensive loss (3,262 ) (456 ) Total shareholders' equity 155,360 143,744 Total liabilities and shareholders' equity $ 178,961 $ 168,695 Statements of Income For the Year Ended December 31, Dollars in thousands 2016 2015 2014 Income Dividends from subsidiaries $ 5,070 $ 10,000 $ 6,500 Other dividends and interest income 21 19 22 Realized securities gains (losses) (14 ) — 41 Management and service fees from subsidiaries 1,554 1,133 1,189 Total income 6,631 11,152 7,752 Expense Interest expense 663 747 1,845 Operating expenses 2,820 2,390 1,746 Total expenses 3,483 3,137 3,591 Income before income taxes and equity in undistributed income of subsidiaries 3,148 8,015 4,161 Income tax (benefit) (715 ) (692 ) (739 ) Income before equity in undistributed income of subsidiaries 3,863 8,707 4,900 Equity in undistributed income of subsidiaries 13,434 7,395 6,456 Net income 17,297 16,102 11,356 Dividends on preferred shares — — 771 Net income applicable to common shares $ 17,297 $ 16,102 $ 10,585 Statements of Cash Flows For the Year Ended December 31, Dollars in thousands 2016 2015 2014 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 17,297 $ 16,102 $ 11,356 Adjustments to reconcile net earnings to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (13,434 ) (7,395 ) (6,456 ) Deferred tax expense (benefit) (214 ) (42 ) 46 Depreciation 36 30 23 Realized securities (gains) losses 14 — (41 ) Stock compensation expense 96 72 1 Decrease in cash surrender value of bank owned life insurance 5 4 1 (Increase) decrease in other assets (277 ) 5 19 Increase in other liabilities 1,104 943 57 Net cash provided by operating activities 4,627 9,719 5,006 CASH FLOWS FROM INVESTING ACTIVITIES Proceeds sales of available for sale securities 86 — 112 Principal payments received on available for sale securities — — 8 Purchase of available for sale securities — (70 ) — Purchases of premises and equipment (56 ) (46 ) (6 ) Net cash provided by (used in) investing activities 30 (116 ) 114 CASH FLOWS FROM FINANCING ACTIVITIES Dividends paid on preferred stock — (191 ) (774 ) Dividends paid on common stock (4,272 ) (3,398 ) — Exercise of stock options 447 51 71 Repayment of long-term borrowings (1,805 ) (1,838 ) (4,402 ) Repayment of subordinated debt — (16,800 ) — Repurchase and retirement of common stock — (1,080 ) — Purchase of unallocated common stock held by ESOP — (2,250 ) — Net proceeds from issuance of common stock 101 4,772 7,822 Net cash provided by (used in) financing activities (5,529 ) (20,734 ) 2,717 Increase (decrease) in cash (872 ) (11,131 ) 7,837 Cash: Beginning 1,984 13,115 5,278 Ending $ 1,112 $ 1,984 $ 13,115 SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Cash payments for: Interest $ 654 $ 761 $ 1,909 |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Use of estimates | Use of estimates : We must make estimates and assumptions that affect the reported amounts and disclosures in preparing our financial statements in conformity with accounting principles generally accepted in the United States of America. Actual results could differ significantly from those estimates. |
Principles of consolidation | Principles of consolidation : The accompanying consolidated financial statements include the accounts of Summit and its wholly-owned subsidiaries. All significant accounts and transactions among these entities have been eliminated. |
Comprehensive Income, Policy | Comprehensive income: Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale and unrealized gains and losses on cash flow hedges which are also recognized as separate components of equity. |
Cash and cash equivalents | Cash and cash equivalents: Cash and cash equivalents includes cash on hand, amounts due from banks (including cash items in process of clearing), interest bearing deposits with other banks and federal funds sold. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy | Loans held for sale : Loans held for sale are valued at the lower of aggregate carrying cost or fair value. Gains or losses realized on the sales of loans are recognized in other income at the time of sale. |
Cash surrender value of life insurance policies | Cash surrender value of life insurance policies: We have purchased life insurance policies on certain employees. Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. |
Presentation of cash flows | Presentation of cash flows : For purposes of reporting, cash flows from demand deposits, NOW accounts, savings accounts and short-term borrowings are reported on a net basis, since their original maturities are less than three months. Cash flows from loans and certificates of deposit and other time deposits are reported net. |
Advertising | Advertising: Advertising costs are expensed as incurred |
Trust services | Trust services : Assets held in an agency or fiduciary capacity are not our assets and are not included in the accompanying consolidated balance sheets. Trust services income is recognized on the cash basis in accordance with customary banking practice. Reporting such income on a cash basis does not produce results that are materially different from those that would result from use of theaccrual basis. |
Variable interest entities | : In accordance with accounting principles generally accepted in the United States, we do not consolidate subsidiary trusts which issue guaranteed preferred beneficial interests in subordinated debentures (Trust Preferred Securities). The Trust Preferred Securities continue to qualify as Tier 1 capital for regulatory purposes. See Note 13 of our Notes to Consolidated Financial Statements for a discussion of our subordinated debentures owed to unconsolidated subsidiary trusts. |
Reclassifications |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Schedule of Consideration Paid, Assets Acquired and Liabilities Assumed in Acquisition of HCB | The following table details the total consideration paid on October 1, 2016 in connection with the acquisition of HCB, the fair values of the assets acquired and liabilities assumed and the resulting preliminary goodwill. (Dollars in thousands) As Recorded by HCB Estimated Fair Value Adjustments Estimated Fair Values as Recorded by Summit Cash consideration paid $ 21,826 Identifiable assets acquired: Cash and cash equivalents $ 53,235 $ — $ 53,235 Securities available for sale, at fair value 5,932 — 5,932 Loans Purchased performing 58,931 (467 ) 58,464 Purchased credit impaired 2,910 (528 ) 2,382 Allowance for loan losses (1,040 ) 1,040 — Premises and equipment 1,925 (307 ) 1,618 Property held for sale 41 (18 ) 23 Core deposit intangibles — 1,610 1,610 Other assets 906 (41 ) 865 Total identifiable assets acquired $ 122,840 $ 1,289 $ 124,129 Identifiable liabilities assumed: Deposits 106,907 (145 ) 106,762 Other liabilities 332 — 332 Total identifiable liabilities assumed $ 107,239 $ (145 ) $ 107,094 Net identifiable assets acquired $ 15,601 $ 1,434 $ 17,035 Preliminary goodwill resulting from acquisition $ 4,791 |
Summary of PCI Loan Portfolio | The PCI loan portfolio related to the HCB acquisition was accounted for at estimated fair value on the date of acquisition, October 1, 2016, as follows: Dollars in thousands Acquired Loans -PCI Contractual principal and interest due $ 3,301 Nonaccretable difference (586 ) Expected cash flows 2,715 Accretable yield (333 ) Purchase credit impaired loans - estimated fair value $ 2,382 |
Pro Forma Information of the Combined Entities Summit and HCB | The following table illustrates the pro forma revenue, net income and diluted earnings per share of the combined entities of Summit, HCB and FCB had the acquisitions taken place on January 1, 2014. The pro forma revenue, net income and diluted earnings per share combines the historical results of HCB and FCB with Summit's consolidated statements of income for the periods below and, while certain adjustments were made for the estimated effect of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition actually taken place on January 1, 2014. Acquisition related expenses of $933,000 were included in our actual consolidated statement of net income for the year ended December 31, 2016, but were excluded from the pro forma information listed below. HCB and FCB incurred acquisition related expenses of $405,000 and $400,000 , respectively, in 2016 which were also excluded. In addition and also excluded, was a 2016 charge of $5.46 million by FCB relative to the termination of its defined benefit plan, which was required in conjunction with the merger. We expect to achieve operational cost savings and other efficiencies as a result of the acquisition which are not reflected in the pro forma amounts below. Summit, HCB & FCB Pro Forma For the Year Ended December 31, Dollars in thousands 2016 2015 2014 Total revenues, net of interest expense $ 83,239 $ 82,191 $ 77,894 Net income $ 21,259 $ 19,874 $ 15,133 Diluted earnings per share $ 1.73 $ 1.62 $ 1.41 The following table estimates the pro forma revenue, net income and diluted earnings per share of the combined entities of Summit and HCB as if the acquisition taken place on January 1, 2014. The pro forma revenue, net income and diluted earnings per share combines the historical results of HCB with Summit's consolidated statements of income for the periods below and, while certain adjustments were made for the estimated effect of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition actually taken place on January 1, 2014. Acquisition related expenses of $933,000 were included in our actual consolidated statement of income for the year ended December 31, 2016, but were excluded from the pro forma information listed below. Additionally, HCB incurred acquisition related expenses of $405,000 in 2016 which were also excluded. We expect to achieve operational cost savings and other efficiencies as a result of the acquisition which are not reflected in the pro forma amounts below. Summit & HCB Pro Forma For the Year Ended December 31, Dollars in thousands 2016 2015 2014 Total revenues, net of interest expense $ 64,149 $ 62,684 $ 58,400 Net income $ 18,042 $ 16,861 $ 11,271 Diluted earnings per share $ 1.68 $ 1.57 $ 1.24 |
Pro Forma Information of the Combined Entities Summit, HCB, and FCB | The following table illustrates the pro forma revenue, net income and diluted earnings per share of the combined entities of Summit, HCB and FCB had the acquisitions taken place on January 1, 2014. The pro forma revenue, net income and diluted earnings per share combines the historical results of HCB and FCB with Summit's consolidated statements of income for the periods below and, while certain adjustments were made for the estimated effect of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition actually taken place on January 1, 2014. Acquisition related expenses of $933,000 were included in our actual consolidated statement of net income for the year ended December 31, 2016, but were excluded from the pro forma information listed below. HCB and FCB incurred acquisition related expenses of $405,000 and $400,000 , respectively, in 2016 which were also excluded. In addition and also excluded, was a 2016 charge of $5.46 million by FCB relative to the termination of its defined benefit plan, which was required in conjunction with the merger. We expect to achieve operational cost savings and other efficiencies as a result of the acquisition which are not reflected in the pro forma amounts below. Summit, HCB & FCB Pro Forma For the Year Ended December 31, Dollars in thousands 2016 2015 2014 Total revenues, net of interest expense $ 83,239 $ 82,191 $ 77,894 Net income $ 21,259 $ 19,874 $ 15,133 Diluted earnings per share $ 1.73 $ 1.62 $ 1.41 The following table estimates the pro forma revenue, net income and diluted earnings per share of the combined entities of Summit and HCB as if the acquisition taken place on January 1, 2014. The pro forma revenue, net income and diluted earnings per share combines the historical results of HCB with Summit's consolidated statements of income for the periods below and, while certain adjustments were made for the estimated effect of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition actually taken place on January 1, 2014. Acquisition related expenses of $933,000 were included in our actual consolidated statement of income for the year ended December 31, 2016, but were excluded from the pro forma information listed below. Additionally, HCB incurred acquisition related expenses of $405,000 in 2016 which were also excluded. We expect to achieve operational cost savings and other efficiencies as a result of the acquisition which are not reflected in the pro forma amounts below. Summit & HCB Pro Forma For the Year Ended December 31, Dollars in thousands 2016 2015 2014 Total revenues, net of interest expense $ 64,149 $ 62,684 $ 58,400 Net income $ 18,042 $ 16,861 $ 11,271 Diluted earnings per share $ 1.68 $ 1.57 $ 1.24 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis. Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2016 Level 1 Level 2 Level 3 Available for sale securities U.S. Government sponsored agencies $ 15,174 $ — $ 15,174 $ — Mortgage backed securities: Government sponsored agencies 138,846 — 138,846 — Nongovernment sponsored entities 4,653 — 4,653 — Corporate debt securities 18,170 — 18,170 — Other equity securities 137 — 137 — Tax-exempt state and political subdivisions 89,562 — 89,562 — Total available for sale securities $ 266,542 $ — $ 266,542 $ — Derivative financial assets Interest rate swaps $ 200 $ — $ 200 $ — Derivative financial liabilities Interest rate swaps $ 4,611 $ — $ 4,611 $ — Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2015 Level 1 Level 2 Level 3 Available for sale securities U.S. Government sponsored agencies $ 21,475 $ — $ 21,475 $ — Mortgage backed securities: Government sponsored agencies 146,734 — 146,734 — Nongovernment sponsored entities 7,885 — 7,885 — State and political subdivisions 1,953 — 1,953 — Corporate debt securities 14,226 — 14,226 — Other equity securities 77 — 77 — Tax-exempt state and political subdivisions 88,442 — 88,442 — Total available for sale securities $ 280,792 $ — $ 280,792 $ — Derivative financial assets Interest rate swaps $ 94 $ — $ 94 $ — Derivative financial liabilities Interest rate swaps $ 5,166 $ — $ 5,166 $ — |
Fair Value Measurements, Nonrecurring | Assets measured at fair value on a nonrecurring basis are included in the tables below. Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2016 Level 1 Level 2 Level 3 Residential mortgage loans held for sale $ 176 $ — $ 176 $ — Collateral-dependent impaired loans Construction and development $ 945 $ — $ 945 $ — Residential real estate 130 — 130 — Total collateral-dependent impaired loans $ 1,075 $ — $ 1,075 $ — Property held for sale Commercial real estate $ 976 $ — $ 976 $ — Construction and development 19,327 — 19,327 — Residential real estate 279 — 279 — Total property held for sale $ 20,582 $ — $ 20,582 $ — Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2015 Level 1 Level 2 Level 3 Residential mortgage loans held for sale $ 779 $ — $ 779 $ — Collateral-dependent impaired loans Commercial real estate $ 627 $ — $ — $ 627 Construction and development 1,054 — — 1,054 Residential real estate 279 — 279 — Total collateral-dependent impaired loans $ 1,960 $ — $ 279 $ 1,681 Property held for sale Commercial real estate $ 1,103 $ — $ 1,103 $ — Construction and development 18,477 — 18,419 58 Residential real estate 314 — 314 — Total property held for sale $ 19,894 $ — $ 19,836 $ 58 |
Fair Value, by Balance Sheet Grouping | The carrying values and estimated fair values of our financial instruments are summarized below: At December 31 2016 Fair Value Measurements Using: Dollars in thousands Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 46,616 $ 46,616 $ — $ 46,616 $ — Securities available for sale 266,542 266,542 — 266,542 — Other investments 12,942 12,942 — 12,942 — Loans held for sale, net 176 176 — 176 — Loans, net 1,307,862 1,321,235 — 1,075 1,320,160 Accrued interest receivable 6,167 6,167 — 6,167 — Derivative financial assets 200 200 — 200 — $ 1,640,505 $ 1,653,878 $ — $ 333,718 $ 1,320,160 Financial liabilities Deposits $ 1,295,519 $ 1,309,820 $ — $ 1,309,820 $ — Short-term borrowings 224,461 224,461 — 224,461 — Long-term borrowings 46,670 49,013 — 49,013 — Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589 — 19,589 — Accrued interest payable 736 736 — 736 — Derivative financial liabilities 4,611 4,611 — 4,611 — $ 1,591,586 $ 1,608,230 $ — $ 1,608,230 $ — At December 31 2015 Fair Value Measurements Using: Dollars in thousands Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 9,487 $ 9,487 $ — $ 9,487 $ — Securities available for sale 280,792 280,792 — 280,792 — Other investments 8,949 8,949 — 8,949 — Loans held for sale, net 779 779 — 779 — Loans, net 1,079,331 1,084,955 — 279 1,084,676 Accrued interest receivable 5,544 5,544 — 5,544 — Derivative financial assets 94 94 — 94 — $ 1,384,976 $ 1,390,600 $ — $ 305,924 $ 1,084,676 Financial liabilities Deposits $ 1,066,709 $ 1,077,510 $ — $ 1,077,510 $ — Short-term borrowings 171,394 171,394 — 171,394 — Long-term borrowings 75,581 80,506 — 80,506 — Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589 — 19,589 — Accrued interest payable 826 826 — 826 — Derivative financial liabilities 5,166 5,166 — 5,166 — $ 1,339,265 $ 1,354,991 $ — $ 1,354,991 $ — |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Available-for-sale Securities [Abstract] | |
Available-for-sale Securities | The amortized cost, unrealized gains, unrealized losses and estimated fair values of securities at December 31, 2016 and 2015 , are summarized as follows: December 31, 2016 Amortized Unrealized Dollars in thousands Cost Gains Losses Fair Value Available for Sale Taxable debt securities U.S. Government and agencies and corporations $ 14,580 $ 642 $ 48 $ 15,174 Residential mortgage-backed securities: Government-sponsored agencies 138,451 1,554 1,159 138,846 Nongovernment-sponsored entities 4,631 44 22 4,653 Corporate debt securities 18,295 23 148 18,170 Total taxable debt securities 175,957 2,263 1,377 176,843 Tax-exempt debt securities State and political subdivisions General obligations 49,449 569 1,388 48,630 Water and sewer revenues 9,087 63 149 9,001 Lease revenues 9,037 7 201 8,843 Electric revenues 3,247 10 48 3,209 Sales tax revenues 2,870 — 34 2,836 Other revenues 17,321 93 371 17,043 Total tax-exempt debt securities 91,011 742 2,191 89,562 Equity securities 137 — — 137 Total available for sale securities $ 267,105 $ 3,005 $ 3,568 $ 266,542 December 31, 2015 Amortized Unrealized Dollars in thousands Cost Gains Losses Fair Value Available for Sale Taxable debt securities U.S. Government and agencies and corporations $ 20,461 $ 1,063 $ 49 $ 21,475 Residential mortgage-backed securities: Government-sponsored agencies 145,586 1,943 795 146,734 Nongovernment-sponsored entities 7,836 82 33 7,885 State and political subdivisions Water and sewer revenues 250 — — 250 Other revenues 1,729 — 26 1,703 Corporate debt securities 14,494 — 268 14,226 Total taxable debt securities 190,356 3,088 1,171 192,273 Tax-exempt debt securities State and political subdivisions General obligations 52,490 1,767 41 54,216 Water and sewer revenues 7,614 172 — 7,786 Lease revenues 8,671 187 1 8,857 Special tax revenues 4,532 72 — 4,604 Other revenues 12,703 290 14 12,979 Total tax-exempt debt securities 86,010 2,488 56 88,442 Equity securities 77 — — 77 Total available for sale securities $ 276,443 $ 5,576 $ 1,227 $ 280,792 |
Summary Of Volume of State and Political Subdivision Securities Held in Portfolio | We own no such securities of any single issuer which we deem to be a concentration. December 31, 2016 Amortized Unrealized Dollars in thousands Cost Gains Losses Fair Value Michigan $ 15,100 $ 7 $ 520 $ 14,587 Illinois 9,316 181 112 9,385 Texas 8,710 14 257 8,467 West Virginia 8,413 17 64 8,366 California 8,248 115 264 8,099 |
Schedule of Realized Gain (Loss) | The proceeds from sales, calls and maturities of available for sale securities, including principal payments received on mortgage-backed obligations, and the related gross gains and losses realized are as follows: Dollars in thousands Proceeds from Gross realized Calls and Principal Years ended December 31, Sales Maturities Payments Gains Losses 2016 $ 72,453 $ 3,235 $ 35,881 $ 1,422 $ 295 2015 69,632 2,043 38,502 1,732 288 2014 80,914 4,051 34,390 1,037 824 |
Investments Classified by Contractual Maturity Date | The maturities, amortized cost and estimated fair values of securities at December 31, 2016 , are summarized as follows: Dollars in thousands Amortized Cost Fair Value Due in one year or less $ 53,236 $ 53,659 Due from one to five years 91,067 91,536 Due from five to ten years 16,049 15,992 Due after ten years 106,616 105,218 Equity securities 137 137 Total $ 267,105 $ 266,542 |
Schedule of Unrealized Loss on Investments | Provided below is a summary of securities available for sale which were in an unrealized loss position at December 31, 2016 and 2015 . 2016 Less than 12 months 12 months or more Total Dollars in thousands Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Temporarily impaired securities Taxable debt securities U.S. Government agencies and corporations $ 763 $ (5 ) $ 2,575 $ (43 ) $ 3,338 $ (48 ) Residential mortgage-backed securities: Government-sponsored agencies 55,388 (985 ) 8,389 (174 ) 63,777 (1,159 ) Nongovernment-sponsored entities 97 — 3,013 (22 ) 3,110 (22 ) Corporate debt securities 968 (31 ) 3,136 (117 ) 4,104 (148 ) Tax-exempt debt securities State and political subdivisions: General obligations 33,115 (1,388 ) — — 33,115 (1,388 ) Water and sewer revenues 4,761 (149 ) — — 4,761 (149 ) Lease revenues 7,011 (201 ) — — 7,011 (201 ) Electric revenues 1,973 (48 ) — — 1,973 (48 ) Sales tax revenues 2,836 (34 ) — — 2,836 (34 ) Other revenues 8,445 (371 ) — — 8,445 (371 ) Total temporarily impaired securities 115,357 (3,212 ) 17,113 (356 ) 132,470 (3,568 ) Total $ 115,357 $ (3,212 ) $ 17,113 $ (356 ) $ 132,470 $ (3,568 ) 2015 Less than 12 months 12 months or more Total Dollars in thousands Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Temporarily impaired securities Taxable debt securities U.S. Government agencies and corporations $ 2,104 $ (2 ) $ 3,151 $ (47 ) $ 5,255 $ (49 ) Residential mortgage-backed securities: Government-sponsored agencies 52,970 (569 ) 8,672 (226 ) 61,642 (795 ) Nongovernment-sponsored entities 2,298 — 2,819 (33 ) 5,117 (33 ) State and political subdivisions: Other revenues 1,702 (26 ) — — 1,702 (26 ) Corporate debt securities 8,367 (268 ) — — 8,367 (268 ) Tax-exempt debt securities State and political subdivisions: General obligations 5,977 (41 ) — — 5,977 (41 ) Lease revenues 576 (1 ) — — 576 (1 ) Other revenues 1,218 (14 ) — — 1,218 (14 ) Total temporarily impaired securities 75,212 (921 ) 14,642 (306 ) 89,854 (1,227 ) Total $ 75,212 $ (921 ) $ 14,642 $ (306 ) $ 89,854 $ (1,227 ) |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Summary Of Loans, Net Of Unearned Fees | Loans are summarized as follows: Dollars in thousands 2016 2015 Commercial $ 119,088 $ 97,201 Commercial real estate Owner-occupied 203,047 203,555 Non-owner occupied 381,921 337,294 Construction and development Land and land development 72,042 65,500 Construction 16,584 9,970 Residential real estate Non-jumbo 265,641 221,750 Jumbo 65,628 50,313 Home equity 74,596 74,300 Mortgage warehouse lines 85,966 — Consumer 25,534 19,251 Other 9,489 11,669 Total loans, net of unearned fees 1,319,536 1,090,803 Less allowance for loan losses 11,674 11,472 Loans, net $ 1,307,862 $ 1,079,331 |
Schedule Of Acquired Loans | The outstanding balance and the recorded investment of loans acquired pursuant to our acquisition of HCB (or acquired loans) that were recorded at fair value, without carryover of HCB's allowance for loan losses at the acquisition date and were included in the consolidated balance sheet at December 31, 2016 are as follows: Acquired Loans Dollars in thousands Purchased Credit Impaired Purchased Performing Total Outstanding balance $ 2,714 $ 54,076 $ 56,790 Recorded investment Commercial $ — $ 4,292 $ 4,292 Commercial real estate Owner-occupied — 497 497 Non-owner occupied — 3,874 3,874 Construction and development Land and land development 395 4,175 4,570 Residential real estate Non-jumbo 789 32,213 33,002 Jumbo 1,017 3,900 4,917 Consumer — 4,460 4,460 Total recorded investment $ 2,201 $ 53,411 $ 55,612 |
Summary of Change in Accretable Yield PCI Loans | The following table presents a summary of the change in the accretable yield of the PCI loan portfolio for the period from October 1, 2016 to December 31, 2016: Dollars in thousands Acquisition of HCB, October 1, 2016 $ 333 Accretion (20 ) Reclassification of nonaccretable difference due to improvement in expected cash flows — Other changes, net (23 ) Accretable yield, December 31, 2016 $ 290 |
Schedule Of Loan Maturities | The following presents loan maturities at December 31, 2016 : Within After 1 but After Dollars in thousands 1 Year within 5 Years 5 Years Commercial $ 48,602 $ 47,689 $ 22,797 Commercial real estate 28,685 49,032 507,251 Construction and development 37,852 15,702 35,072 Residential real estate 16,795 43,221 345,849 Mortgage warehouse lines 85,966 — — Consumer 4,515 17,703 3,316 Other 423 1,598 7,468 $ 222,838 $ 174,945 $ 921,753 Loans due after one year with: Variable rates $ 176,358 Fixed rates 920,340 $ 1,096,698 |
Schedule Of Contractual Aging Of Recorded Investment In Past Due Loans By Class | The following table presents the contractual aging of the recorded investment in past due loans by class as of December 31, 2016 and 2015 . At December 31, 2016 Past Due > 90 days and Accruing Dollars in thousands 30-59 days 60-89 days > 90 days Total Current Commercial $ 90 $ 86 $ 165 $ 341 $ 118,747 $ — Commercial real estate Owner-occupied 93 — 509 602 202,445 — Non-owner occupied 340 — 65 405 381,516 — Construction and development Land and land development 423 129 3,852 4,404 67,638 — Construction — — — — 16,584 — Residential mortgage Non-jumbo 4,297 1,889 3,287 9,473 256,168 — Jumbo — — — — 65,628 — Home equity — 302 57 359 74,237 — Mortgage warehouse lines — — — — 85,966 — Consumer 308 84 150 542 24,992 — Other — — — — 9,489 — Total $ 5,551 $ 2,490 $ 8,085 $ 16,126 $ 1,303,410 $ — At December 31, 2015 Past Due > 90 days and Accruing Dollars in thousands 30-59 days 60-89 days > 90 days Total Current Commercial $ 345 $ 26 $ 632 $ 1,003 $ 96,198 $ — Commercial real estate Owner-occupied 158 386 437 981 202,574 — Non-owner occupied 1 — 856 857 336,437 — Construction and development Land and land development 1,182 194 4,547 5,923 59,577 — Construction — — — — 9,970 — Residential mortgage Non-jumbo 2,276 2,647 1,591 6,514 215,236 — Jumbo — — — — 50,313 — Home equity 374 172 100 646 73,654 — Consumer 155 41 92 288 18,963 9 Other — — — — 11,669 — Total $ 4,491 $ 3,466 $ 8,255 $ 16,212 $ 1,074,591 $ 9 |
Schedule of Financing Receivables, Non Accrual Status | Nonaccrual loans: The following table presents the nonaccrual loans included in the net balance of loans at December 31, 2016 and 2015 . Dollars in thousands 2016 2015 Commercial $ 298 $ 853 Commercial real estate Owner-occupied 509 437 Non-owner occupied 4,336 5,518 Construction and development Land & land development 4,465 5,623 Construction — — Residential mortgage Non-jumbo 4,621 2,987 Jumbo — — Home equity 194 258 Mortgage warehouse lines — — Consumer 151 83 Total $ 14,574 $ 15,759 |
Impaired Financing Receivables | The following tables present loans individually evaluated for impairment at December 31, 2016 and 2015 . December 31, 2016 Dollars in thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Impaired Balance Interest Income Recognized while impaired Without a related allowance Commercial $ 285 $ 285 $ — $ 247 $ 10 Commercial real estate Owner-occupied 520 520 — 534 31 Non-owner occupied 10,203 10,205 — 10,675 294 Construction and development Land & land development 5,227 5,227 — 5,270 80 Construction — — — — — Residential real estate Non-jumbo 4,055 4,065 — 3,910 193 Jumbo 3,640 3,639 — 3,693 175 Home equity 524 523 — 523 22 Mortgage warehouse lines — — — — — Consumer 44 44 — 50 5 Total without a related allowance $ 24,498 $ 24,508 $ — $ 24,902 $ 810 With a related allowance Commercial $ — $ — $ — $ — $ — Commercial real estate Owner-occupied 6,864 6,864 347 6,879 269 Non-owner occupied 1,311 1,311 197 1,327 43 Construction and development Land & land development 2,066 2,066 585 2,074 80 Construction — — — — — Residential real estate Non-jumbo 2,055 2,057 251 1,851 78 Jumbo 853 853 24 862 44 Home equity — — — — — Mortgage warehouse lines — — — — — Consumer — — — — — Total with a related allowance $ 13,149 $ 13,151 $ 1,404 $ 12,993 $ 514 Total Commercial $ 26,476 $ 26,478 $ 1,129 $ 27,006 $ 807 Residential real estate 11,127 11,137 275 10,839 512 Consumer 44 44 — 50 5 Total $ 37,647 $ 37,659 $ 1,404 $ 37,895 $ 1,324 December 31, 2015 Dollars in thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Impaired Balance Interest Income Recognized while impaired Without a related allowance Commercial $ 242 $ 242 $ — $ 319 $ 17 Commercial real estate Owner-occupied 5,401 5,402 — 5,438 191 Non-owner occupied 10,740 10,741 — 9,982 310 Construction and development Land & land development 7,635 7,635 — 9,497 263 Construction — — — — — Residential real estate Non-jumbo 3,590 3,600 — 3,316 160 Jumbo 3,871 3,869 — 4,412 181 Home equity 709 709 — 709 32 Consumer 68 68 — 72 6 Total without a related allowance $ 32,256 $ 32,266 $ — $ 33,745 $ 1,160 With a related allowance Commercial $ — $ — $ — $ — $ — Commercial real estate Owner-occupied 2,997 2,997 45 3,003 135 Non-owner occupied 2,709 2,709 386 2,728 72 Construction and development Land & land development 1,139 1,139 85 1,154 — Construction — — — — — Residential real estate Non-jumbo 2,530 2,531 226 2,552 114 Jumbo 871 871 34 878 43 Home equity — — — — — Consumer — — — — — Total with a related allowance $ 10,246 $ 10,247 $ 776 $ 10,315 $ 364 Total Commercial $ 30,863 $ 30,865 $ 516 $ 32,121 $ 988 Residential real estate 11,571 11,580 260 11,867 530 Consumer 68 68 — 72 6 Total $ 42,502 $ 42,513 $ 776 $ 44,060 $ 1,524 |
Troubled Debt Restructurings on Financing Receivables | All TDRs are evaluated individually for allowance for loan loss purposes. 2016 2015 Dollars in thousands Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Commercial — $ — $ — — $ — $ — Commercial real estate Owner-occupied — — — — — — Non-owner occupied — — — — — — Construction and development Land & land development — — — 1 1,182 1,182 Construction — — — — — — Residential real estate Non-jumbo 4 693 696 1 25 25 Jumbo — — — — — — Home equity — — — — — — Mortgage warehouse lines — — — — — — Consumer 1 2 2 1 2 2 Total 5 $ 695 $ 698 3 $ 1,209 $ 1,209 |
Schedule Of Defaults During Stated Period Of Trouble Debt Restructurings | For purposes of these tables, a default is considered as either the loan was past due 30 days or more at any time during the period, or the loan was fully or partially charged off during the period. 2016 2015 Dollars in thousands Number of Defaults Recorded Investment at Default Date Number of Defaults Recorded Investment at Default Date Commercial — $ — — $ — Commercial real estate Owner-occupied — — — — Non-owner occupied — — — — Construction and development Land & land development — — 1 1,182 Construction — — — — Residential real estate Non-jumbo 3 452 — — Jumbo — — — — Home equity — — — — Mortgage warehouse lines — — — — Consumer 1 2 — — Total 4 $ 454 1 $ 1,182 |
Schedule of the Activity Regarding TDRs by Loan Type | The following table details the activity regarding TDRs by loan type during 2016 and the related allowance on TDRs. 2016 Construction & Land Development Commercial Real Estate Residential Real Estate Dollars in thousands Land & Land Develop- ment Construc- tion Commer- cial Owner Occupied Non- Owner Occupied Non- jumbo Jumbo Home Equity Mortgage Warehouse Lines Con- sumer Other Total Troubled debt restructurings Balance January 1, 2016 $ 4,189 $ — $ 242 $ 9,314 $ 6,059 $ 5,496 $ 4,635 $ 523 $ — $ 67 $ — $ 30,525 Additions — — — — — 696 — — — 2 — 698 Charge-offs — — — (129 ) — (52 ) — — — — — (181 ) Net (paydowns) advances (323 ) — (59 ) (491 ) (656 ) (717 ) (141 ) — — (25 ) — (2,412 ) Transfer into foreclosed properties — — — — — — — — — — — — Refinance out of TDR status — — — — — — — — — — — — Balance, December 31, 2016 $ 3,866 $ — $ 183 $ 8,694 $ 5,403 $ 5,423 $ 4,494 $ 523 $ — $ 44 $ — $ 28,630 Allowance related to troubled debt restructurings $ 530 $ — $ — $ 544 $ — $ 251 $ 24 $ — $ — $ — $ — $ 1,349 |
Financing Receivable Credit Quality Indicators | The following table presents the recorded investment in construction and development, commercial and commercial real estate loans which are generally evaluated based upon the internal risk ratings defined above. Loan Risk Profile by Internal Risk Rating Construction and Development Commercial Real Estate Land and Land Development Construction Commercial Owner Occupied Non-Owner Occupied Mortgage Warehouse Lines Dollars in thousands 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 Pass $ 64,144 $ 57,155 $ 16,584 $ 9,970 $ 117,214 $ 95,174 $ 201,113 $ 202,226 $ 375,181 $ 329,861 $ 85,966 $ — OLEM (Special Mention) 2,097 1,598 — — 1,471 1,295 567 546 1,381 1,602 — — Substandard 5,801 6,747 — — 403 732 1,367 783 5,359 5,831 — — Doubtful — — — — — — — — — — — — Loss — — — — — — — — — — — — Total $ 72,042 $ 65,500 $ 16,584 $ 9,970 $ 119,088 $ 97,201 $ 203,047 $ 203,555 $ 381,921 $ 337,294 $ 85,966 $ — |
Schedule Of Recorded Investment Evaluated Based On Aging Status Of Loans And Payment Activity | The following table presents the recorded investment in consumer, residential real estate and home equity loans, which are generally evaluated based on the aging status of the loans, which was previously presented, and payment activity. Performing Nonperforming Dollars in thousands 2016 2015 2016 2015 Residential real estate Non-jumbo $ 261,020 $ 218,763 $ 4,621 $ 2,987 Jumbo 65,628 50,313 — — Home Equity 74,402 74,042 194 258 Consumer 25,368 19,149 166 102 Other 9,489 11,669 — — Total $ 435,907 $ 373,936 $ 4,981 $ 3,347 |
Schedule of Related Party Loans Aggregating $60,000 or More | The following presents the activity with respect to related party loans aggregating $60,000 or more to any one related party (other changes represent additions to and changes in director and executive officer status): Dollars in thousands 2016 2015 Balance, beginning $ 22,974 $ 20,586 Additions 33,004 11,095 Amounts collected (12,318 ) (6,142 ) Other changes, net (1,662 ) (2,565 ) Balance, ending $ 41,998 $ 22,974 |
Allowance For Loan Losses (Tabl
Allowance For Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Allowance for Loan and Lease Losses Write-offs, Net [Abstract] | |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent | An analysis of the allowance for loan losses for the years ended December 31, 2016 , 2015 and 2014 is as follows: Dollars in thousands 2016 2015 2014 Balance, beginning of year $ 11,472 $ 11,167 $ 12,659 Losses: Commercial 489 77 390 Commercial real estate Owner occupied 179 559 11 Non-owner occupied 124 178 — Construction and development Land and land development 127 457 3,535 Construction 9 — — Residential real estate Non-jumbo 169 417 435 Jumbo — 208 65 Home equity 175 76 14 Mortgage warehouse lines — — — Consumer 98 69 265 Other 185 110 118 Total 1,555 2,151 4,833 Recoveries: Commercial 73 10 34 Commercial real estate Owner occupied 31 290 40 Non-owner occupied 17 13 318 Construction and development Land and land development 840 456 298 Construction — — — Real estate - mortgage Non-jumbo 136 107 87 Jumbo 6 96 163 Home equity 3 3 4 Mortgage warehouse lines — — — Consumer 76 105 74 Other 75 126 73 Total 1,257 1,206 1,091 Net losses 298 945 3,742 Provision for loan losses 500 1,250 2,250 Balance, end of year $ 11,674 $ 11,472 $ 11,167 |
Allowance for Credit Losses on Financing Receivables | Activity in the allowance for loan losses by loan class during 2016 and 2015 is as follows: 2016 Allowance for loan losses Allowance related to: Loans Beginning Balance Charge- offs Recoveries Provision Ending Balance Loans individua- lly evaluated for impairm- ent Loans collective- ly evaluated for impairm- ent Loans acquired with deteriora- ted credit quality Total Loans individua- lly evaluated for impairm- ent Loans collectively evaluated for impairment Loans Total Commercial $ 781 $ (489 ) $ 73 $ 569 $ 934 $ — $ 934 $ — $ 934 $ 285 $ 118,803 $ — $ 119,088 Commercial real estate Owner occupied 1,589 (179 ) 31 668 2,109 347 1,762 — 2,109 7,384 195,663 — 203,047 Non-owner occupied 2,977 (124 ) 17 568 3,438 197 3,241 — 3,438 11,514 370,407 — 381,921 Construction and development Land and land development 2,852 (127 ) 840 (1,302 ) 2,263 585 1,678 — 2,263 7,293 64,354 — 71,647 Construction 15 (9 ) — 18 24 — 24 — 24 — 16,584 — 16,584 Residential real estate Non-jumbo 1,253 (169 ) 136 954 2,174 251 1,923 — 2,174 6,110 258,741 — 264,851 Jumbo 1,593 — 6 (1,504 ) 95 24 71 — 95 4,493 60,119 — 64,612 Home equity 253 (175 ) 3 332 413 — 413 — 413 524 74,072 — 74,596 Mortgage warehouse lines — — — — — — — — — — 85,966 — 85,966 Consumer 59 (98 ) 76 84 121 — 121 — 121 44 25,490 — 25,534 Other 100 (185 ) 75 113 103 — 103 — 103 — 9,489 — 9,489 PCI — — — — — — — — — — — 2,201 2,201 Total $ 11,472 $ (1,555 ) $ 1,257 $ 500 $ 11,674 $ 1,404 $ 10,270 $ — $ 11,674 $ 37,647 $ 1,279,688 $ 2,201 $ 1,319,536 2015 Allowance for loan losses Allowance related to: Loans Beginning Balance Charge- offs Recoveries Provision Ending Balance Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Commercial $ 1,204 $ (77 ) $ 10 $ (356 ) $ 781 $ — $ 781 $ 781 $ 242 $ 96,959 $ 97,201 Commercial real estate Owner occupied 927 (559 ) 290 931 1,589 45 1,544 1,589 8,399 195,156 203,555 Non-owner occupied 1,316 (178 ) 13 1,826 2,977 386 2,591 2,977 13,450 323,844 337,294 Construction and development Land and land development 3,417 (457 ) 456 (564 ) 2,852 85 2,767 2,852 8,774 56,726 65,500 Construction 427 — — (412 ) 15 — 15 15 — 9,970 9,970 Residential real estate Non-jumbo 1,280 (417 ) 107 283 1,253 225 1,028 1,253 6,131 215,619 221,750 Jumbo 2,081 (208 ) 96 (376 ) 1,593 35 1,558 1,593 4,740 45,573 50,313 Home equity 187 (76 ) 3 139 253 — 253 253 709 73,591 74,300 Consumer 97 (69 ) 105 (74 ) 59 — 59 59 68 19,183 19,251 Other 231 (110 ) 126 (147 ) 100 — 100 100 — 11,669 11,669 Total $ 11,167 $ (2,151 ) $ 1,206 $ 1,250 $ 11,472 $ 776 $ 10,696 $ 11,472 $ 42,513 $ 1,048,290 $ 1,090,803 |
Property Held For Sale (Tables)
Property Held For Sale (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract] | |
Schedule Of Activity Of Property Held For Sale | he following table presents the activity of property held for sale during 2016 , 2015 and 2014 . Dollars in thousands 2016 2015 2014 Beginning balance $ 25,567 $ 37,529 $ 53,392 Acquisitions 2,356 2,617 2,673 Acquisition of HCB 23 — — Capitalized improvements 463 39 87 Dispositions (3,237 ) (12,203 ) (14,852 ) Valuation adjustments (668 ) (2,415 ) (3,771 ) Balance at year end $ 24,504 $ 25,567 $ 37,529 |
Premises And Equipment (Tables)
Premises And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | The major categories of premises and equipment and accumulated depreciation at December 31, 2016 and 2015 are summarized as follows: Dollars in thousands 2016 2015 Land $ 6,741 $ 6,308 Buildings and improvements 23,028 21,461 Furniture and equipment 15,447 14,552 45,216 42,321 Less accumulated depreciation 21,479 20,749 Total premises and equipment, net $ 23,737 $ 21,572 |
Goodwill And Other Intangible42
Goodwill And Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | In addition, at December 31, 2016 and December 31, 2015 , we had $2.66 million and $1.30 million in unamortized identifiable assets comprised of $1.56 million core deposit intangible and $1.10 million customer intangible at December 31, 2016 and $1.30 million customer intangible at December 31, 2015 . Goodwill Activity Dollars in thousands Community Banking Insurance Services Total Balance, January 1, 2016 $ 1,488 $ 4,710 $ 6,198 Acquired goodwill, net 4,791 — 4,791 Balance, December 31, 2016 $ 6,279 $ 4,710 $ 10,989 |
Summary Of Other Intangible Assets | Other Intangible Assets December 31, 2016 December 31, 2015 Dollars in thousands Community Banking Insurance Services Total Community Banking Insurances Services Total Unidentifiable intangible assets Gross carrying amount $ — $ — $ — $ 2,268 $ — $ 2,268 Less: accumulated amortization — — — 2,268 — 2,268 Net carrying amount $ — $ — $ — $ — $ — $ — Identifiable intangible assets Gross carrying amount $ 1,610 $ 3,000 $ 4,610 $ — $ 3,000 $ 3,000 Less: accumulated amortization 47 1,900 1,947 — 1,700 1,700 Net carrying amount $ 1,563 $ 1,100 $ 2,663 $ — $ 1,300 $ 1,300 |
Finite-lived Intangible Assets Amortization Expense | Amortization relative to our identifiable intangible assets is as follows: Core Deposit Customer Dollars in thousands Intangible Intangible Actual: 2014 $ — $ 250 2015 — 200 2016 47 200 Expected: 2017 186 200 2018 175 200 2019 163 200 2020 151 200 2021 139 200 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Deposits [Abstract] | |
Summary Of Interest Bearing Deposits By Type | The following is a summary of interest bearing deposits by type as of December 31, 2016 and 2015 : Dollars in thousands 2016 2015 Demand deposits, interest bearing $ 262,591 $ 215,721 Savings deposits 337,348 266,825 Time deposits 545,843 465,153 Total $ 1,145,782 $ 947,699 |
Summary Of Scheduled Maturities For All Time Deposits | A summary of the scheduled maturities for all time deposits as of December 31, 2016 is as follows: Dollars in thousands Amount 2017 $ 268,023 2018 107,333 2019 60,416 2020 46,405 2021 36,137 Thereafter 27,529 Total $ 545,843 |
Summary Of Maturity Distribution Of All Certificates Of Deposit | The following is a summary of the maturity distribution of all certificates of deposit in denominations of $100,000 or more as of December 31, 2016 : Dollars in thousands Amount Percent Three months or less $ 45,912 11.1 % Three through six months 75,066 18.2 % Six through twelve months 83,255 20.2 % Over twelve months 208,821 50.5 % Total $ 413,054 100.00 % |
Borrowed Funds (Tables)
Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term Debt | A summary of short-term borrowings is presented below. 2016 2015 Dollars in thousands Short-term FHLB Advances Federal Funds Purchased Short-term FHLB Advances Federal Funds Purchased Balance at December 31 $ 221,000 $ 3,461 $ 167,950 $ 3,444 Average balance outstanding for the period 187,420 3,456 146,412 4,690 Maximum balance outstanding at any month end during period 231,200 3,462 171,160 7,438 Weighted average interest rate for the period 0.79 % 0.75 % 0.43 % 0.50 % Weighted average interest rate for balances outstanding at December 31 0.60 % 0.51 % 0.35 % 0.26 % |
Schedule of Long-term Debt Instruments | All FHLB advances are collateralized primarily by similar amounts of residential mortgage loans, certain commercial loans, mortgage backed securities and securities of U. S. Government agencies and corporations. Balance at December 31, Dollars in thousands 2016 2015 Long-term FHLB advances $ 767 $ 873 Long-term repurchase agreements 45,000 72,000 Term loan 903 2,708 Total $ 46,670 $ 75,581 |
Schedule of Maturities of Long-term Debt | A summary of the maturities of all long-term borrowings and subordinated debentures for the next five years and thereafter is as follows: Dollars in thousands Long-term borrowings Subordinated debentures owed to unconsolidated subsidiary trusts 2017 $ 918 $ — 2018 45,017 — 2019 18 — 2020 19 — 2021 20 — Thereafter 678 19,589 Total $ 46,670 $ 19,589 |
Derivative Financial Instrume45
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Interest Rate Derivatives | A summary of our derivative financial instruments as of December 31, 2016 and 2015 follows: December 31, 2016 Derivative Fair Value Net Ineffective Dollars in thousands Notional Amount Asset Liability Hedge Gains/(Losses) CASH FLOW HEDGES Pay-fixed/receive-variable interest rate swaps Short term borrowings $ 110,000 $ — $ 4,611 $ — FAIR VALUE HEDGES Pay-fixed/receive-variable interest rate swaps Commercial real estate loans $ 20,507 $ 200 $ — $ — December 31, 2015 Derivative Fair Value Net Ineffective Dollars in thousands Notional Amount Asset Liability Hedge Gains/(Losses) CASH FLOW HEDGES Pay-fixed/receive-variable interest rate swaps Short term borrowings $ 110,000 $ — $ 5,071 $ — FAIR VALUE HEDGES Pay-fixed/receive-variable interest rate swaps Commercial real estate loans $ 21,250 $ 94 $ 95 $ — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | The components of applicable income tax expense for the years ended December 31, 2016 , 2015 and 2014 , are as follows: Dollars in thousands 2016 2015 2014 Current Federal $ 7,738 $ 6,219 $ 3,380 State 627 484 294 8,365 6,703 3,674 Deferred Federal (353 ) 165 920 State (4 ) 25 84 (357 ) 190 1,004 Total $ 8,008 $ 6,893 $ 4,678 |
Schedule of Effective Income Tax Rate Reconciliation | Reconciliation between the amount of reported income tax expense and the amount computed by multiplying the statutory income tax rates by book pretax income for the years ended December 31, 2016 , 2015 and 2014 is as follows: 2016 2015 2014 Dollars in thousands Amount Percent Amount Percent Amount Percent Computed tax at applicable statutory rate $ 8,857 35 $ 8,048 35 $ 5,612 35 Increase (decrease) in taxes resulting from: Tax-exempt interest and dividends, net (1,080 ) (4 ) (1,047 ) (4 ) (996 ) (6 ) State income taxes, net of Federal income tax benefit 405 2 331 1 245 1 Non-deductible merger-related expenses 108 — — — — — Low-income housing and rehabilitation tax credits (55 ) — — — — — Other, net (227 ) (1 ) (439 ) (2 ) (183 ) (1 ) Applicable income taxes $ 8,008 32 $ 6,893 30 $ 4,678 29 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences, which give rise to our deferred tax assets and liabilities as of December 31, 2016 and 2015 , are as follows: Dollars in thousands 2016 2015 Deferred tax assets Allowance for loan losses $ 4,320 $ 4,245 Depreciation 97 168 Foreclosed properties 4,184 4,506 Deferred revenue 38 — Deferred compensation 3,118 2,554 Other deferred costs and accrued expenses 440 387 Other-than-temporarily impaired securities 257 257 Net unrealized loss on securities available for sale 208 — Net unrealized loss on interest rate swaps 1,706 1,876 NOL and tax credit carryforwards — 25 Total 14,368 14,018 Deferred tax liabilities Accretion on tax-exempt securities — 3 Net unrealized gain on securities available for sale — 1,609 Purchase accounting adjustments and goodwill 701 743 Total 701 2,355 Net deferred tax assets $ 13,667 $ 11,663 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Employee Benefits and Share-based Compensation [Abstract] | |
Employee Stock Ownership Plan (ESOP) Disclosures | The ESOP shares as of December 31 are as follows: ESOP Shares At December 31, 2016 2015 Allocated shares 406,371 379,860 Shares committed to be released 35,283 26,511 Unallocated shares 146,539 181,822 Total ESOP shares 588,193 588,193 Market value of unallocated shares ( in thousands ) $ 4,034 $ 2,160 |
Schedule of Stock Options, Activity | A summary of activity in our Plans during 2014 , 2015 and 2016 is as follows: Weighted Average Dollars in thousands, except per share amounts Options / SARs Aggregate Remaining Contractual Term (Yrs.) Exercise Price Outstanding, December 31, 2013 185,410 $ 19.59 Granted — — Exercised (10,160 ) 6.98 Forfeited (6,500 ) 24.44 Expired (11,580 ) 16.64 Outstanding, December 31, 2014 157,170 $ 20.43 Granted 166,717 12.01 Exercised (6,560 ) 7.87 Forfeited — — Expired (73,180 ) 23.67 Outstanding, December 31, 2015 244,147 $ 14.05 Granted — — Exercised (24,740 ) 18.08 Forfeited — — Expired (1,550 ) 18.79 Outstanding, December 31, 2016 217,857 $ 3,044 6.92 $ 13.56 Exercisable Options/SARs: December 31, 2016 84,483 $ 974 4.73 $ 16.00 December 31, 2015 77,430 103 2.62 $ 18.43 December 31, 2014 156,170 124 2.20 $ 20.54 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary Of The Total Unfunded, Or Off-Balance Sheet, Credit Extension Commitments | A summary of the total unfunded, or off-balance sheet, credit extension commitments follows: Dollars in thousands December 31, December 31, Commitments to extend credit: Revolving home equity and credit card lines $ 63,769 $ 58,008 Construction loans 41,472 32,044 Other loans 131,291 49,775 Standby letters of credit 3,895 5,302 Total $ 240,427 $ 145,129 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | Our actual capital amounts and ratios as well as our subsidiary, Summit Community Bank’s (“Summit Community”) are presented in the following table. Actual Minimum Required Capital - Basel III Fully Phased-in Minimum Required To Be Well Capitalized Dollars in thousands Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016 CET1 (to risk weighted assets) Summit $ 146,494 10.5 % $ 97,663 7.0 % $ 90,687 6.5 % Summit Community 165,747 11.9 % 97,498 7.0 % 90,534 6.5 % Tier I Capital (to risk weighted assets) Summit 164,357 11.8 % 118,393 8.5 % 111,428 8.0 % Summit Community 165,747 11.9 % 118,391 8.5 % 111,427 8.0 % Total Capital (to risk weighted assets) Summit 176,031 12.6 % 146,693 10.5 % 139,707 10.0 % Summit Community 177,421 12.7 % 146,687 10.5 % 139,702 10.0 % Tier I Capital (to average assets) Summit 164,357 9.4 % 69,939 4.0 % 87,424 5.0 % Summit Community 165,747 9.5 % 69,788 4.0 % 87,235 5.0 % As of December 31, 2015 CET1 (to risk weighted assets) Summit 137,849 11.8 % 81,775 7.0 % 75,934 6.5 % Summit Community 158,081 13.6 % 81,365 7.0 % 75,553 6.5 % Tier I Capital (to risk weighted assets) Summit 156,849 13.4 % 99,494 8.5 % 93,641 8.0 % Summit Community 158,081 13.6 % 98,801 8.5 % 92,989 8.0 % Total Capital (to risk weighted assets) Summit 168,321 14.4 % 122,734 10.5 % 116,890 10.0 % Summit Community 169,553 14.5 % 122,780 10.5 % 116,933 10.0 % Tier I Capital (to average assets) Summit 156,849 10.7 % 58,635 4.0 % 73,294 5.0 % Summit Community 158,081 10.8 % 58,549 4.0 % 73,186 5.0 % |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Information for each of our segments is included below: December 31, 2016 Dollars in thousands Community Banking Insurance & Financial Services Parent Eliminations Total Net interest income $ 49,649 $ — $ (642 ) $ — $ 49,007 Provision for loan losses 500 — — — 500 Net interest income after provision for loan losses 49,149 — (642 ) — 48,507 Other income 7,213 4,400 1,541 (1,554 ) 11,600 Other expenses 29,482 4,053 2,821 (1,554 ) 34,802 Income (loss) before income taxes 26,880 347 (1,922 ) — 25,305 Income tax expense (benefit) 8,579 144 (715 ) — 8,008 Net income (loss) $ 18,301 $ 203 $ (1,207 ) $ — $ 17,297 Inter-segment revenue (expense) $ (1,441 ) $ (113 ) $ 1,554 $ — $ — Average assets $ 1,620,723 $ 5,984 $ 173,999 $ (201,109 ) $ 1,599,597 Capital expenditures $ 1,730 $ 36 $ 91 $ — $ 1,857 December 31, 2015 Dollars in thousands Community Banking Insurance & Financial Services Parent Eliminations Total Net interest income $ 46,744 $ — $ (728 ) $ — $ 46,016 Provision for loan losses 1,250 — — — 1,250 Net interest income after provision for loan losses 45,494 — (728 ) — 44,766 Other income 7,324 4,537 1,133 (1,133 ) 11,861 Other expenses 28,060 4,315 2,390 (1,133 ) 33,632 Income (loss) before income taxes 24,758 222 (1,985 ) — 22,995 Income tax expense (benefit) 7,542 43 (692 ) — 6,893 Net income (loss) $ 17,216 $ 179 $ (1,293 ) $ — $ 16,102 Inter-segment revenue (expense) $ (1,047 ) $ (86 ) $ 1,133 $ — $ — Average assets $ 1,496,396 $ 5,923 $ 167,839 $ (203,571 ) $ 1,466,587 Capital expenditures $ 2,530 $ 12 $ 46 $ — $ 2,588 December 31, 2014 Dollars in thousands Community Banking Insurance & Financial Services Parent Eliminations Total Net interest income $ 44,209 $ — $ (1,824 ) $ — $ 42,385 Provision for loan losses 2,250 — — — 2,250 Net interest income after provision for loan losses 41,959 — (1,824 ) — 40,135 Other income 6,299 4,882 1,231 (1,189 ) 11,223 Other expenses 30,579 4,188 1,746 (1,189 ) 35,324 Income (loss) before income taxes 17,679 694 (2,339 ) — 16,034 Income tax expense (benefit) 5,191 226 (739 ) — 4,678 Net income (loss) 12,488 468 (1,600 ) — 11,356 Dividends on preferred shares — — 771 — 771 Net income (loss) applicable to common shares $ 12,488 $ 468 $ (2,371 ) $ — $ 10,585 Inter-segment revenue (expense) $ (1,071 ) $ (118 ) $ 1,189 $ — $ — Average assets $ 1,466,521 $ 6,130 $ 164,769 $ (217,418 ) $ 1,420,002 Capital expenditures $ 470 $ 35 $ 6 $ — $ 511 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The computations of basic and diluted earnings per share follow: For the Year Ended December 31, 2016 2015 2014 Common Common Common Dollars in thousands, Income Shares Per Income Shares Per Income Shares Per except per share amounts (Numerator) (Denominator) Share (Numerator) (Denominator) Share (Numerator) (Denominator) Share Net income $ 17,297 $ 16,102 $ 11,356 Less preferred stock dividends — — (771 ) Basic EPS $ 17,297 10,689,224 $ 1.62 $ 16,102 10,295,434 $ 1.56 $ 10,585 7,539,444 $ 1.40 Effect of dilutive securities: Stock options 11,612 8,353 9,381 Stock appreciation rights (SARs) 16,035 — — Series 2011 convertible preferred stock — — — 285,610 476 1,489,735 Series 2009 convertible preferred stock — — — 125,878 295 673,001 Diluted EPS $ 17,297 10,716,871 $ 1.61 $ 16,102 10,715,275 $ 1.50 $ 11,356 9,711,561 $ 1.17 |
Accumulated Other Comprehensi52
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following is changes in accumulated other comprehensive income (loss) by component, net of tax, for the years ending December 31, 2016 and 2015 . December 31, 2016 Dollars in thousands Gains and Losses on Cash Flow Hedges Unrealized Gains and Losses on Available-for-Sale Securities Total Beginning balance $ (3,195 ) $ 2,739 $ (456 ) Other comprehensive income (loss) before reclassification 289 (2,385 ) (2,096 ) Amounts reclassified from accumulated other comprehensive income — (710 ) (710 ) Net current period other comprehensive income (loss) 289 (3,095 ) (2,806 ) Ending balance $ (2,906 ) $ (356 ) $ (3,262 ) December 31, 2015 Dollars in thousands Gains and Losses on Cash Flow Hedges Unrealized Gains and Losses on Available-for-Sale Securities Total Beginning balance $ (1,834 ) $ 3,906 $ 2,072 Other comprehensive loss before reclassification (1,361 ) (257 ) (1,618 ) Amounts reclassified from accumulated other comprehensive income — (910 ) (910 ) Net current period other comprehensive loss (1,361 ) (1,167 ) (2,528 ) Ending balance $ (3,195 ) $ 2,739 $ (456 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | The following is significant amounts reclassified out of each component of accumulated other comprehensive income for the years ending December 31, 2016 and 2015 . December 31, 2016 Details about Accumulated Other Comprehensive Income Components Affective Line Item in the Statement Where Net Income is Presented Amount Reclassified From Accumulated Other Comprehensive Income Unrealized (gains) and losses on available-for-sale securities Net gains on sales of securities $ (1,127 ) Total before income taxes (1,127 ) Income tax expense 417 Total reclassifications for the period Net of income taxes $ (710 ) December 31, 2015 Details about Accumulated Other Comprehensive Income Components Affective Line Item in the Statement Where Net Income is Presented Amount Reclassified From Accumulated Other Comprehensive Income Unrealized (gains) and losses on available-for-sale securities Net gains on sales of securities $ (1,444 ) Total before income taxes (1,444 ) Income tax expense 534 Total reclassifications for the period Net of income taxes $ (910 ) |
Condensed Financial Statement53
Condensed Financial Statements Of Parent Company (Tables) - Parent Company [Member] | 12 Months Ended |
Dec. 31, 2016 | |
Balance Sheets | Balance Sheets December 31, Dollars in thousands 2016 2015 Assets Cash $ 1,112 $ 1,984 Investment in subsidiaries, eliminated in consolidation 175,513 164,787 Securities available for sale 77 166 Premises and equipment 101 81 Other assets 2,158 1,677 Total assets $ 178,961 $ 168,695 Liabilities and Shareholders' Equity Long-term borrowings $ 903 $ 2,708 Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589 Other liabilities 3,109 2,654 Total liabilities 23,601 24,951 Preferred stock, $1.00 par value, authorized 250,000 shares — — Common stock and related surplus, $2.50 par value, authorized 20,000,000 shares; issued: 10,883,509 shares 2016, 10,853,566 shares 2015; outstanding: 10,736,970 shares 2016, 10,671,744 shares 2015 46,757 45,741 Unallocated common stock held by Employee Stock Ownership Plan - 2016 - 146,539 shares, 2015 - 181,822 shares (1,583 ) (1,964 ) Retained earnings 113,448 100,423 Accumulated other comprehensive loss (3,262 ) (456 ) Total shareholders' equity 155,360 143,744 Total liabilities and shareholders' equity $ 178,961 $ 168,695 |
Statements of Income | Statements of Income For the Year Ended December 31, Dollars in thousands 2016 2015 2014 Income Dividends from subsidiaries $ 5,070 $ 10,000 $ 6,500 Other dividends and interest income 21 19 22 Realized securities gains (losses) (14 ) — 41 Management and service fees from subsidiaries 1,554 1,133 1,189 Total income 6,631 11,152 7,752 Expense Interest expense 663 747 1,845 Operating expenses 2,820 2,390 1,746 Total expenses 3,483 3,137 3,591 Income before income taxes and equity in undistributed income of subsidiaries 3,148 8,015 4,161 Income tax (benefit) (715 ) (692 ) (739 ) Income before equity in undistributed income of subsidiaries 3,863 8,707 4,900 Equity in undistributed income of subsidiaries 13,434 7,395 6,456 Net income 17,297 16,102 11,356 Dividends on preferred shares — — 771 Net income applicable to common shares $ 17,297 $ 16,102 $ 10,585 |
Statements of Cash Flows | Statements of Cash Flows For the Year Ended December 31, Dollars in thousands 2016 2015 2014 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 17,297 $ 16,102 $ 11,356 Adjustments to reconcile net earnings to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (13,434 ) (7,395 ) (6,456 ) Deferred tax expense (benefit) (214 ) (42 ) 46 Depreciation 36 30 23 Realized securities (gains) losses 14 — (41 ) Stock compensation expense 96 72 1 Decrease in cash surrender value of bank owned life insurance 5 4 1 (Increase) decrease in other assets (277 ) 5 19 Increase in other liabilities 1,104 943 57 Net cash provided by operating activities 4,627 9,719 5,006 CASH FLOWS FROM INVESTING ACTIVITIES Proceeds sales of available for sale securities 86 — 112 Principal payments received on available for sale securities — — 8 Purchase of available for sale securities — (70 ) — Purchases of premises and equipment (56 ) (46 ) (6 ) Net cash provided by (used in) investing activities 30 (116 ) 114 CASH FLOWS FROM FINANCING ACTIVITIES Dividends paid on preferred stock — (191 ) (774 ) Dividends paid on common stock (4,272 ) (3,398 ) — Exercise of stock options 447 51 71 Repayment of long-term borrowings (1,805 ) (1,838 ) (4,402 ) Repayment of subordinated debt — (16,800 ) — Repurchase and retirement of common stock — (1,080 ) — Purchase of unallocated common stock held by ESOP — (2,250 ) — Net proceeds from issuance of common stock 101 4,772 7,822 Net cash provided by (used in) financing activities (5,529 ) (20,734 ) 2,717 Increase (decrease) in cash (872 ) (11,131 ) 7,837 Cash: Beginning 1,984 13,115 5,278 Ending $ 1,112 $ 1,984 $ 13,115 SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Cash payments for: Interest $ 654 $ 761 $ 1,909 |
Acquisitions - Narrative (Detai
Acquisitions - Narrative (Details) - USD ($) | Oct. 01, 2016 | Jun. 01, 2016 | Feb. 29, 2016 | Dec. 31, 2016 | Dec. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | |||||||
Preliminary goodwill resulting from acquisition | $ 10,989,000 | $ 6,198,000 | |||||
Acquisition related expenses | 933,000 | ||||||
HCB and Subsidiary | |||||||
Business Acquisition [Line Items] | |||||||
Percentage of ownership acquired | 100.00% | ||||||
Price paid in acquisition (in USD per share) | $ 38 | ||||||
Consideration paid in acquisition | $ 21,800,000 | ||||||
Value of assets acquired | $ 123,000,000 | ||||||
Value of liabilities acquired | $ 107,000,000 | ||||||
Preliminary goodwill resulting from acquisition | $ 4,790,000 | ||||||
HCB and Subsidiary | Core Deposits | |||||||
Business Acquisition [Line Items] | |||||||
Weighted average life of intangibles acquired | 16 years | ||||||
FCB | |||||||
Business Acquisition [Line Items] | |||||||
Price paid in acquisition (in USD per share) | $ 22.50 | ||||||
Value of assets acquired | $ 405,000,000 | ||||||
Acquisition related expenses | 400,000 | ||||||
Value of consideration (in shares) | 1.2433 | ||||||
Percent of cash to be received in business combination | 35.00% | ||||||
Percent of stock to be received in business combination | 65.00% | ||||||
Defined benefit plan termination expense | 5,460,000 | ||||||
Highland County Bankshares, Inc [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Value of assets acquired | $ 122,840,000 | ||||||
Value of liabilities acquired | $ 107,239,000 | ||||||
Acquisition related expenses | $ 405,000 |
Acquisitions - Consideration Pa
Acquisitions - Consideration Paid, Assets Acquired, and Liabilities Assumed (Details) - USD ($) $ in Thousands | Oct. 01, 2016 | Feb. 29, 2016 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value Adjustments, Identifiable liabilities assumed: | |||||
Preliminary goodwill resulting from acquisition | $ 10,989 | $ 6,198 | |||
HCB and Subsidiary | |||||
Business Acquisition [Line Items] | |||||
Cash consideration paid | $ 21,800 | ||||
Identifiable assets acquired: | |||||
Total identifiable assets acquired | $ 123,000 | ||||
Identifiable liabilities assumed: | |||||
Total identifiable liabilities assumed | $ 107,000 | ||||
Fair Value Adjustments, Identifiable liabilities assumed: | |||||
Preliminary goodwill resulting from acquisition | $ 4,790 | ||||
Highland County Bankshares, Inc [Member] | |||||
Identifiable assets acquired: | |||||
Cash and cash equivalents | 53,235 | ||||
Securities available for sale, at fair value | 5,932 | ||||
Loans, net of unearned income, Purchased performing | 58,931 | ||||
Loans, net of unearned income, Purchased credit impaired | 2,910 | ||||
Allowance for loan losses | (1,040) | ||||
Premises and equipment | 1,925 | ||||
Property held for sale | 41 | ||||
Core deposit intangibles | 0 | ||||
Other assets | 906 | ||||
Total identifiable assets acquired | 122,840 | ||||
Identifiable liabilities assumed: | |||||
Deposits | 106,907 | ||||
Other liabilities | 332 | ||||
Total identifiable liabilities assumed | 107,239 | ||||
Net identifiable assets acquired | 15,601 | ||||
As Recorded By Summit [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash consideration paid | 21,826 | ||||
Identifiable assets acquired: | |||||
Cash and cash equivalents | 53,235 | ||||
Securities available for sale, at fair value | 5,932 | ||||
Loans, net of unearned income, Purchased performing | 58,464 | ||||
Loans, net of unearned income, Purchased credit impaired | 2,382 | ||||
Allowance for loan losses | 0 | ||||
Premises and equipment | 1,618 | ||||
Property held for sale | 23 | ||||
Core deposit intangibles | 1,610 | ||||
Other assets | 865 | ||||
Total identifiable assets acquired | 124,129 | ||||
Identifiable liabilities assumed: | |||||
Deposits | 106,762 | ||||
Other liabilities | 332 | ||||
Total identifiable liabilities assumed | 107,094 | ||||
Net identifiable assets acquired | 17,035 | ||||
Fair Value Adjustments, Identifiable assets acquired | |||||
Fair Value Adjustments, Loans, net of unearned income, Purchased performing | (467) | ||||
Fair Value Adjustments, Loans, net of unearned income, Purchased credit impaired | (528) | ||||
Fair Value Adjustments, Allowance for loan losses | 1,040 | ||||
Fair Value Adjustments, Premises and equipment | (307) | ||||
Fair Value Adjustments, Property held for sale | (18) | ||||
Fair Value Adjustments, Core deposit intangibles | 1,610 | ||||
Fair Value Adjustments, Other assets | (41) | ||||
Fair Value Adjustments, Total identifiable assets acquired | 1,289 | ||||
Fair Value Adjustments, Identifiable liabilities assumed: | |||||
Fair Value Adjustments, Deposits | (145) | ||||
Fair Value Adjustments, Other liabilities | 0 | ||||
Total identifiable liabilities assumed | (145) | ||||
Fair Value Adjustments, Net identifiable assets (liabilities) assumed | 1,434 | ||||
Preliminary goodwill resulting from acquisition | $ 4,791 |
Acquisitions - Summary of PCI L
Acquisitions - Summary of PCI Loan Portfolio (Details) - Highland County Bankshares, Inc [Member] $ in Thousands | Oct. 01, 2016USD ($) |
Changes in Fair Value of PCI Loan Portfolio | |
Contractual principal and interest due | $ 3,301 |
Nonaccretable difference | (586) |
Expected cash flows | 2,715 |
Accretable yield | (333) |
Purchase credit impaired loans - estimated fair value | $ 2,382 |
Acquisitions - Pro-forma Financ
Acquisitions - Pro-forma Financial Information of Combined Entities (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
HCB and Subsidiary | |||
Business Acquisition [Line Items] | |||
Total revenues, net of interest expense | $ 64,149 | $ 62,684 | $ 58,400 |
Net income | $ 18,042 | $ 16,861 | $ 11,271 |
Diluted earnings per share (in USD per share) | $ 1.68 | $ 1.57 | $ 1.24 |
HCB and FCB | |||
Business Acquisition [Line Items] | |||
Total revenues, net of interest expense | $ 83,239 | $ 82,191 | $ 77,894 |
Net income | $ 21,259 | $ 19,874 | $ 15,133 |
Diluted earnings per share (in USD per share) | $ 1.73 | $ 1.62 | $ 1.41 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Threshold Period for Ordering Appraisal on Impaired Loans, Length of Existing Appraisal | 12 months |
Length of Time Generally Receive New Appraisal Post Impairment | 3 months |
Length of Time Generally Receive New Appraisal on Foreclosed Properties | 18 months |
Minimum [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Discount to sell collateral | 7.00% |
Maximum [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Discount to sell collateral | 10.00% |
Fair Value Measurements (Assets
Fair Value Measurements (Assets And Liabilities Recorded At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | $ 266,542 | $ 280,792 |
U.S. Government and agencies and corporations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 15,174 | 21,475 |
Government-sponsored agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 138,846 | 146,734 |
Nongovernment-sponsored entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 4,653 | 7,885 |
State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 1,953 | |
Corporate debt securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 18,170 | 14,226 |
Other equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 137 | 77 |
Tax-exempt state and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 89,562 | 88,442 |
Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Hedge Assets | 200 | 94 |
Fair Value Hedge Liabilities | 4,611 | 5,166 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | U.S. Government and agencies and corporations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Government-sponsored agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Nongovernment-sponsored entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | |
Fair Value, Inputs, Level 1 [Member] | Corporate debt securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Other equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Tax-exempt state and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Hedge Assets | 0 | 0 |
Fair Value Hedge Liabilities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 266,542 | 280,792 |
Fair Value, Inputs, Level 2 [Member] | U.S. Government and agencies and corporations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 15,174 | 21,475 |
Fair Value, Inputs, Level 2 [Member] | Government-sponsored agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 138,846 | 146,734 |
Fair Value, Inputs, Level 2 [Member] | Nongovernment-sponsored entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 4,653 | 7,885 |
Fair Value, Inputs, Level 2 [Member] | State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 1,953 | |
Fair Value, Inputs, Level 2 [Member] | Corporate debt securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 18,170 | 14,226 |
Fair Value, Inputs, Level 2 [Member] | Other equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 137 | 77 |
Fair Value, Inputs, Level 2 [Member] | Tax-exempt state and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 89,562 | 88,442 |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Hedge Assets | 200 | 94 |
Fair Value Hedge Liabilities | 4,611 | 5,166 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | U.S. Government and agencies and corporations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Government-sponsored agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Nongovernment-sponsored entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | |
Fair Value, Inputs, Level 3 [Member] | Corporate debt securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Other equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Tax-exempt state and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Hedge Assets | 0 | 0 |
Fair Value Hedge Liabilities | $ 0 | $ 0 |
Fair Value Measurements (Asse60
Fair Value Measurements (Assets And Liabilities Recorded At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Residential mortgage loans held for sale | $ 176 | $ 779 |
Collateral-dependent impaired loans | 1,075 | 1,960 |
Property held for sale | 20,582 | 19,894 |
Commercial real estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 627 | |
Property held for sale | 976 | 1,103 |
Construction and development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 945 | 1,054 |
Property held for sale | 19,327 | 18,477 |
Residential real estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 130 | 279 |
Property held for sale | 279 | 314 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Residential mortgage loans held for sale | 0 | 0 |
Collateral-dependent impaired loans | 0 | 0 |
Property held for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Commercial real estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | |
Property held for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Construction and development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | 0 |
Property held for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Residential real estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | 0 |
Property held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Residential mortgage loans held for sale | 176 | 779 |
Collateral-dependent impaired loans | 1,075 | 279 |
Property held for sale | 20,582 | 19,836 |
Fair Value, Inputs, Level 2 [Member] | Commercial real estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | |
Property held for sale | 976 | 1,103 |
Fair Value, Inputs, Level 2 [Member] | Construction and development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 945 | 0 |
Property held for sale | 19,327 | 18,419 |
Fair Value, Inputs, Level 2 [Member] | Residential real estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 130 | 279 |
Property held for sale | 279 | 314 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Residential mortgage loans held for sale | 0 | 0 |
Collateral-dependent impaired loans | 0 | 1,681 |
Property held for sale | 0 | 58 |
Fair Value, Inputs, Level 3 [Member] | Commercial real estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 627 | |
Property held for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Construction and development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | 1,054 |
Property held for sale | 0 | 58 |
Fair Value, Inputs, Level 3 [Member] | Residential real estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | 0 |
Property held for sale | $ 0 | $ 0 |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Values And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | $ 266,542 | $ 280,792 |
Loans held for sale, net | 176 | 779 |
Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 46,616 | 9,487 |
Securities available for sale | 266,542 | 280,792 |
Other investments | 12,942 | 8,949 |
Loans held for sale, net | 176 | 779 |
Loans, net | 1,307,862 | 1,079,331 |
Accrued interest receivable | 6,167 | 5,544 |
Derivative Asset | 200 | 94 |
Total assets | 1,640,505 | 1,384,976 |
Deposits | 1,295,519 | 1,066,709 |
Short-term borrowings | 224,461 | 171,394 |
Long-term borrowings | 46,670 | 75,581 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 19,589 | 19,589 |
Accrued interest payable | 736 | 826 |
Derivative financial liabilities | 4,611 | 5,166 |
Total liabilities | 1,591,586 | 1,339,265 |
Estimated Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 46,616 | 9,487 |
Securities available for sale | 266,542 | 280,792 |
Other investments | 12,942 | 8,949 |
Loans held for sale, net | 176 | 779 |
Loans, net | 1,321,235 | 1,084,955 |
Accrued interest receivable | 6,167 | 5,544 |
Derivative Asset | 200 | 94 |
Total assets | 1,653,878 | 1,390,600 |
Deposits | 1,309,820 | 1,077,510 |
Short-term borrowings | 224,461 | 171,394 |
Long-term borrowings | 49,013 | 80,506 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 19,589 | 19,589 |
Accrued interest payable | 736 | 826 |
Derivative financial liabilities | 4,611 | 5,166 |
Total liabilities | 1,608,230 | 1,354,991 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale, net | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Estimated Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Securities available for sale | 0 | 0 |
Other investments | 0 | 0 |
Loans held for sale, net | 0 | 0 |
Loans, net | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Derivative Asset | 0 | 0 |
Total assets | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term borrowings | 0 | 0 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 0 | 0 |
Accrued interest payable | 0 | 0 |
Derivative financial liabilities | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale, net | 176 | 779 |
Fair Value, Inputs, Level 2 [Member] | Estimated Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 46,616 | 9,487 |
Securities available for sale | 266,542 | 280,792 |
Other investments | 12,942 | 8,949 |
Loans held for sale, net | 176 | 779 |
Loans, net | 1,075 | 279 |
Accrued interest receivable | 6,167 | 5,544 |
Derivative Asset | 200 | 94 |
Total assets | 333,718 | 305,924 |
Deposits | 1,309,820 | 1,077,510 |
Short-term borrowings | 224,461 | 171,394 |
Long-term borrowings | 49,013 | 80,506 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 19,589 | 19,589 |
Accrued interest payable | 736 | 826 |
Derivative financial liabilities | 4,611 | 5,166 |
Total liabilities | 1,608,230 | 1,354,991 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale, net | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimated Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Securities available for sale | 0 | 0 |
Other investments | 0 | 0 |
Loans held for sale, net | 0 | 0 |
Loans, net | 1,320,160 | 1,084,676 |
Accrued interest receivable | 0 | 0 |
Derivative Asset | 0 | 0 |
Total assets | 1,320,160 | 1,084,676 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term borrowings | 0 | 0 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 0 | 0 |
Accrued interest payable | 0 | 0 |
Derivative financial liabilities | 0 | 0 |
Total liabilities | $ 0 | $ 0 |
Securities (Summary Of Amortize
Securities (Summary Of Amortized Cost, Unrealized Gains, Unrealized Losses And Estimated Fair Values) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | $ 267,105 | $ 276,443 |
Available for sale securities, Unrealized Gains | 3,005 | 5,576 |
Available for sale securities, Unrealized Losses | 3,568 | 1,227 |
Available for sale securities, Estimated Fair Value | 266,542 | 280,792 |
U.S. Government and agencies and corporations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 14,580 | 20,461 |
Available for sale securities, Unrealized Gains | 642 | 1,063 |
Available for sale securities, Unrealized Losses | 48 | 49 |
Available for sale securities, Estimated Fair Value | 15,174 | 21,475 |
Government-sponsored agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 138,451 | 145,586 |
Available for sale securities, Unrealized Gains | 1,554 | 1,943 |
Available for sale securities, Unrealized Losses | 1,159 | 795 |
Available for sale securities, Estimated Fair Value | 138,846 | 146,734 |
Nongovernment-sponsored entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 4,631 | 7,836 |
Available for sale securities, Unrealized Gains | 44 | 82 |
Available for sale securities, Unrealized Losses | 22 | 33 |
Available for sale securities, Estimated Fair Value | 4,653 | 7,885 |
State and policital subdivisions, Water and sewer revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 250 | |
Available for sale securities, Unrealized Gains | 0 | |
Available for sale securities, Unrealized Losses | 0 | |
Available for sale securities, Estimated Fair Value | 250 | |
State and policital subdivisions, Other revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 1,729 | |
Available for sale securities, Unrealized Gains | 0 | |
Available for sale securities, Unrealized Losses | 26 | |
Available for sale securities, Estimated Fair Value | 1,703 | |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 18,295 | 14,494 |
Available for sale securities, Unrealized Gains | 23 | 0 |
Available for sale securities, Unrealized Losses | 148 | 268 |
Available for sale securities, Estimated Fair Value | 18,170 | 14,226 |
Total taxable debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 175,957 | 190,356 |
Available for sale securities, Unrealized Gains | 2,263 | 3,088 |
Available for sale securities, Unrealized Losses | 1,377 | 1,171 |
Available for sale securities, Estimated Fair Value | 176,843 | 192,273 |
State and political subdivisions, General obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 49,449 | 52,490 |
Available for sale securities, Unrealized Gains | 569 | 1,767 |
Available for sale securities, Unrealized Losses | 1,388 | 41 |
Available for sale securities, Estimated Fair Value | 48,630 | 54,216 |
State and political subdivisions, Water and sewer revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 9,087 | 7,614 |
Available for sale securities, Unrealized Gains | 63 | 172 |
Available for sale securities, Unrealized Losses | 149 | 0 |
Available for sale securities, Estimated Fair Value | 9,001 | 7,786 |
State and political subdivisions, Lease revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 9,037 | 8,671 |
Available for sale securities, Unrealized Gains | 7 | 187 |
Available for sale securities, Unrealized Losses | 201 | 1 |
Available for sale securities, Estimated Fair Value | 8,843 | 8,857 |
State and Political Subdivisions Special Tax Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 4,532 | |
Available for sale securities, Unrealized Gains | 72 | |
Available for sale securities, Unrealized Losses | 0 | |
Available for sale securities, Estimated Fair Value | 4,604 | |
State and Political Subdivisions Electric Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 3,247 | |
Available for sale securities, Unrealized Gains | 10 | |
Available for sale securities, Unrealized Losses | 48 | |
Available for sale securities, Estimated Fair Value | 3,209 | |
State and Political Subdivisions Sales Tax Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 2,870 | |
Available for sale securities, Unrealized Gains | 0 | |
Available for sale securities, Unrealized Losses | 34 | |
Available for sale securities, Estimated Fair Value | 2,836 | |
State and political subdivisions, Other revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 17,321 | 12,703 |
Available for sale securities, Unrealized Gains | 93 | 290 |
Available for sale securities, Unrealized Losses | 371 | 14 |
Available for sale securities, Estimated Fair Value | 17,043 | 12,979 |
Total tax-exempt debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 91,011 | 86,010 |
Available for sale securities, Unrealized Gains | 742 | 2,488 |
Available for sale securities, Unrealized Losses | 2,191 | 56 |
Available for sale securities, Estimated Fair Value | 89,562 | 88,442 |
Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 137 | 77 |
Available for sale securities, Unrealized Gains | 0 | 0 |
Available for sale securities, Unrealized Losses | 0 | 0 |
Available for sale securities, Estimated Fair Value | $ 137 | $ 77 |
Securities (Summary of Volume o
Securities (Summary of Volume of State and Political Subdivision Securities Held in Portfolio) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | $ 267,105 | $ 276,443 |
Available for sale securities, Unrealized Gains | 3,005 | 5,576 |
Available for sale securities, Unrealized Losses | 3,568 | 1,227 |
Available for sale securities, Estimated Fair Value | 266,542 | $ 280,792 |
MICHIGAN [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 15,100 | |
Available for sale securities, Unrealized Gains | 7 | |
Available for sale securities, Unrealized Losses | 520 | |
Available for sale securities, Estimated Fair Value | 14,587 | |
ILLINOIS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 9,316 | |
Available for sale securities, Unrealized Gains | 181 | |
Available for sale securities, Unrealized Losses | 112 | |
Available for sale securities, Estimated Fair Value | 9,385 | |
TEXAS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 8,710 | |
Available for sale securities, Unrealized Gains | 14 | |
Available for sale securities, Unrealized Losses | 257 | |
Available for sale securities, Estimated Fair Value | 8,467 | |
West Virginia [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 8,413 | |
Available for sale securities, Unrealized Gains | 17 | |
Available for sale securities, Unrealized Losses | 64 | |
Available for sale securities, Estimated Fair Value | 8,366 | |
CALIFORNIA | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Amortized Cost | 8,248 | |
Available for sale securities, Unrealized Gains | 115 | |
Available for sale securities, Unrealized Losses | 264 | |
Available for sale securities, Estimated Fair Value | $ 8,099 |
Securities (Summary Of Proceeds
Securities (Summary Of Proceeds From Sales, Calls And Maturities, Principal Payments, Gains And Losses Of Securities) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Available-for-sale Securities [Abstract] | |||
Securities available for sale, Proceeds from Sales | $ 72,453 | $ 69,632 | $ 80,914 |
Securities available for sale, Proceeds from Calls and Maturities | 3,235 | 2,043 | 4,051 |
Securities available for sale, Proceeds from Principal Payments | 35,881 | 38,502 | 34,390 |
Securities available for sale, Gross realized Gains | 1,422 | 1,732 | 1,037 |
Securities available for sale, Gross realized Losses | $ 295 | $ 288 | $ 824 |
Securities (Summary Of Maturiti
Securities (Summary Of Maturities, Amortized Cost And Estimated Fair Values Of Securities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 53,236 | |
Due from one to five years, Amortized Cost | 91,067 | |
Due from five to ten years, Amortized Cost | 16,049 | |
Due after ten years, Amortized Cost | 106,616 | |
Equity securities, Amortized Cost | 137 | |
Total Amortized Cost | 267,105 | $ 276,443 |
Due in one year or less, Estimated Fair Value | 53,659 | |
Due from one to five years, Estimated Fair Value | 91,536 | |
Due from five to ten years, Estimated Fair Value | 15,992 | |
Due after ten years, Estimated Fair Value | 105,218 | |
Equity securities, Estimated Fair Value | 137 | |
Total Estimated Fair Value | $ 266,542 |
Securities (Narrative) (Details
Securities (Narrative) (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2016USD ($)securitystate | Dec. 31, 2015USD ($) | |
Schedule of Available-for-sale Securities [Line Items] | ||
State and Political Subdivisions Securities, Number of States with Highest Volume | state | 5 | |
Securities pledged to secure public deposits and other purposes | $ | $ 103.3 | $ 131.2 |
Securities held with an unrealized loss position | security | 121 | |
Residential Mortgage Backed Securities [Member] | Minimum [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Contractual maturity | 2 years | |
Estimated average life to maturity | 1 year | |
Residential Mortgage Backed Securities [Member] | Maximum [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Contractual maturity | 50 years | |
Estimated average life to maturity | 31 years |
Securities (Summary Of Securiti
Securities (Summary Of Securities Available For Sale In Unrealized Loss Position) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | $ 115,357 | $ 75,212 |
Less than 12 months, Unrealized Loss | (3,212) | (921) |
12 months or more, Estimated Fair Value | 17,113 | 14,642 |
12 months or more, Unrealized Loss | (356) | (306) |
Total Estimated Fair Value | 132,470 | 89,854 |
Total Unrealized Loss | (3,568) | (1,227) |
Temporarily Impaired Securities Member | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 115,357 | 75,212 |
Less than 12 months, Unrealized Loss | (3,212) | (921) |
12 months or more, Estimated Fair Value | 17,113 | 14,642 |
12 months or more, Unrealized Loss | (356) | (306) |
Total Estimated Fair Value | 132,470 | 89,854 |
Total Unrealized Loss | (3,568) | (1,227) |
Temporarily Impaired Securities Member | U.S. Government and agencies and corporations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 763 | 2,104 |
Less than 12 months, Unrealized Loss | (5) | (2) |
12 months or more, Estimated Fair Value | 2,575 | 3,151 |
12 months or more, Unrealized Loss | (43) | (47) |
Total Estimated Fair Value | 3,338 | 5,255 |
Total Unrealized Loss | (48) | (49) |
Temporarily Impaired Securities Member | Government-sponsored agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 55,388 | 52,970 |
Less than 12 months, Unrealized Loss | (985) | (569) |
12 months or more, Estimated Fair Value | 8,389 | 8,672 |
12 months or more, Unrealized Loss | (174) | (226) |
Total Estimated Fair Value | 63,777 | 61,642 |
Total Unrealized Loss | (1,159) | (795) |
Temporarily Impaired Securities Member | Nongovernment-sponsored entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 97 | 2,298 |
Less than 12 months, Unrealized Loss | 0 | 0 |
12 months or more, Estimated Fair Value | 3,013 | 2,819 |
12 months or more, Unrealized Loss | (22) | (33) |
Total Estimated Fair Value | 3,110 | 5,117 |
Total Unrealized Loss | (22) | (33) |
Temporarily Impaired Securities Member | State and political subdivisions, Other revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 1,702 | |
Less than 12 months, Unrealized Loss | (26) | |
12 months or more, Estimated Fair Value | 0 | |
12 months or more, Unrealized Loss | 0 | |
Total Estimated Fair Value | 1,702 | |
Total Unrealized Loss | (26) | |
Temporarily Impaired Securities Member | Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 968 | 8,367 |
Less than 12 months, Unrealized Loss | (31) | (268) |
12 months or more, Estimated Fair Value | 3,136 | 0 |
12 months or more, Unrealized Loss | (117) | 0 |
Total Estimated Fair Value | 4,104 | 8,367 |
Total Unrealized Loss | (148) | (268) |
Temporarily Impaired Securities Member | Tax Exempt State and Political Subdivisions General Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 33,115 | 5,977 |
Less than 12 months, Unrealized Loss | (1,388) | (41) |
12 months or more, Estimated Fair Value | 0 | 0 |
12 months or more, Unrealized Loss | 0 | 0 |
Total Estimated Fair Value | 33,115 | 5,977 |
Total Unrealized Loss | (1,388) | (41) |
Temporarily Impaired Securities Member | Tax Exempt State and Political Subdivisions Water and Sewer Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 4,761 | |
Less than 12 months, Unrealized Loss | (149) | |
12 months or more, Estimated Fair Value | 0 | |
12 months or more, Unrealized Loss | 0 | |
Total Estimated Fair Value | 4,761 | |
Total Unrealized Loss | (149) | |
Temporarily Impaired Securities Member | Tax Exempt State and Political Subdivisions Lease Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 7,011 | 576 |
Less than 12 months, Unrealized Loss | (201) | (1) |
12 months or more, Estimated Fair Value | 0 | 0 |
12 months or more, Unrealized Loss | 0 | 0 |
Total Estimated Fair Value | 7,011 | 576 |
Total Unrealized Loss | (201) | (1) |
Temporarily Impaired Securities Member | Tax Exempt State and Political Subdivisions Electric Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 1,973 | |
Less than 12 months, Unrealized Loss | (48) | |
12 months or more, Estimated Fair Value | 0 | |
12 months or more, Unrealized Loss | 0 | |
Total Estimated Fair Value | 1,973 | |
Total Unrealized Loss | (48) | |
Temporarily Impaired Securities Member | Tax Exempt State and Political Subdivisions Sales Tax Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 2,836 | |
Less than 12 months, Unrealized Loss | (34) | |
12 months or more, Estimated Fair Value | 0 | |
12 months or more, Unrealized Loss | 0 | |
Total Estimated Fair Value | 2,836 | |
Total Unrealized Loss | (34) | |
Temporarily Impaired Securities Member | Tax Exempt State and Political Subdivisions Other Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 8,445 | 1,218 |
Less than 12 months, Unrealized Loss | (371) | (14) |
12 months or more, Estimated Fair Value | 0 | 0 |
12 months or more, Unrealized Loss | 0 | 0 |
Total Estimated Fair Value | 8,445 | 1,218 |
Total Unrealized Loss | $ (371) | $ (14) |
Other Investments Other Inves68
Other Investments Other Investment (Narrative)(Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments, All Other Investments [Abstract] | |||
Federal Home Loan Bank Stock | $ 9,590 | $ 8,120 | |
Investment in a limited partnership | 3,330 | 831 | |
Investment Tax Credit | $ 55 | $ 0 | $ 0 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Loans and Leases Receivable Disclosure [Abstract] | |||
Threshold Period Past Due for Loans to be Default | 30 days | ||
Residential real estate loan threshold for jumbo loans | $ 600,000 | ||
Threshold period past due for nonaccrual status of financing receivable | 90 days | ||
Threshold period past due for write-off of credit card loans | 180 days | ||
Threshold period special event notification for writeoff of financing receivable | 60 days | ||
Threshold period past due for writeoff of residential mortgage loans | 180 days | ||
Threshold period for writeoff of collateralized consumer loans | 120 days | ||
Risk rate loans, aggregate balance threshold | $ 2,500,000 | ||
Risk rate loans, loan balance threshold | 500,000 | ||
Average impaired balance | 37,895,000 | $ 44,060,000 | $ 46,600,000 |
Interest income recognized while impaired | 1,324,000 | 1,524,000 | $ 1,800,000 |
Troubled debt restructurings included in impaired loans | 28,600,000 | 30,500,000 | |
Current Troubled debt restructurings included in impaired loans | 28,100,000 | $ 28,900,000 | |
Troubled debt restructuring, aggregate exposure | 2,500,000 | ||
Threshold for related party loans | $ 60,000 |
Loans (Summary Of Loans, Net Of
Loans (Summary Of Loans, Net Of Unearned Fees) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | $ 1,319,536 | $ 1,090,803 |
Less allowance for loan losses | 11,674 | 11,472 |
Loans, net | 1,307,862 | 1,079,331 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | 119,088 | 97,201 |
Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | 203,047 | 203,555 |
Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | 381,921 | 337,294 |
Land And Land Improvements [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | 72,042 | 65,500 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | 16,584 | 9,970 |
Non Jumbo [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | 265,641 | 221,750 |
Jumbo [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | 65,628 | 50,313 |
Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | 74,596 | 74,300 |
Mortgage Warehouse Lines [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | 85,966 | 0 |
Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | 25,534 | 19,251 |
Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans, net of unearned fees | $ 9,489 | $ 11,669 |
Loans Loans (Schedule of Acquir
Loans Loans (Schedule of Acquired Loans) (Details) - HIghland County Bankshares Inc and Subsidiary First and Citizens Bank [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Total Outstanding Balance | $ 56,790 |
Acquired Loans Purchased Performing Carrying Value | 55,612 |
Commercial Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 4,292 |
Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 497 |
Non Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 3,874 |
Land And Land Improvements [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 4,570 |
Non Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 33,002 |
Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 4,917 |
Consumer Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 4,460 |
Purchase Nonimpaired Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchase Performing Outstanding Balance | 54,076 |
Acquired Loans Purchased Performing Carrying Value | 53,411 |
Purchase Nonimpaired Loans [Member] | Commercial Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 4,292 |
Purchase Nonimpaired Loans [Member] | Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 497 |
Purchase Nonimpaired Loans [Member] | Non Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 3,874 |
Purchase Nonimpaired Loans [Member] | Land And Land Improvements [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 4,175 |
Purchase Nonimpaired Loans [Member] | Non Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 32,213 |
Purchase Nonimpaired Loans [Member] | Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 3,900 |
Purchase Nonimpaired Loans [Member] | Consumer Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 4,460 |
Purchased Impaired Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,714 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 2,201 |
Purchased Impaired Loans [Member] | Commercial Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 |
Purchased Impaired Loans [Member] | Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 |
Purchased Impaired Loans [Member] | Non Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 |
Purchased Impaired Loans [Member] | Land And Land Improvements [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 395 |
Purchased Impaired Loans [Member] | Non Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 789 |
Purchased Impaired Loans [Member] | Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 1,017 |
Purchased Impaired Loans [Member] | Consumer Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 0 |
Loans Loans (Summary of Change
Loans Loans (Summary of Change in Accretable Yield PCI Loans (Details) - Purchased Impaired Loans [Member] - HIghland County Bankshares Inc and Subsidiary First and Citizens Bank [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2016 | Oct. 01, 2016 | |
Summary of Change in Accretable Yield PCI Loans [Line Items] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | $ 290 | $ 333 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | (20) | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference | 0 | |
Certain Loans Acquired in Transfer Not Accounting for as Debt Securities Accretable Yield Other Changes, Net | $ (23) |
Loans (Loan Maturities) (Detail
Loans (Loan Maturities) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan maturities, Within 1 Year | $ 222,838 |
Loan maturities, After 1 but within 5 Years | 174,945 |
Loan maturities, After 5 Years | 921,753 |
Loans due after one year with: Variable rates | 176,358 |
Loans due after one year with: Fixed rates | 920,340 |
Loans due after one year | 1,096,698 |
Commercial Loan [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan maturities, Within 1 Year | 48,602 |
Loan maturities, After 1 but within 5 Years | 47,689 |
Loan maturities, After 5 Years | 22,797 |
Commercial Real Estate Portfolio Segment [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan maturities, Within 1 Year | 28,685 |
Loan maturities, After 1 but within 5 Years | 49,032 |
Loan maturities, After 5 Years | 507,251 |
Construction Loans [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan maturities, Within 1 Year | 37,852 |
Loan maturities, After 1 but within 5 Years | 15,702 |
Loan maturities, After 5 Years | 35,072 |
Residential Portfolio Segment [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan maturities, Within 1 Year | 16,795 |
Loan maturities, After 1 but within 5 Years | 43,221 |
Loan maturities, After 5 Years | 345,849 |
Mortgage Warehouse Lines [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan maturities, Within 1 Year | 85,966 |
Loan maturities, After 1 but within 5 Years | 0 |
Loan maturities, After 5 Years | 0 |
Consumer Portfolio Segment [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan maturities, Within 1 Year | 4,515 |
Loan maturities, After 1 but within 5 Years | 17,703 |
Loan maturities, After 5 Years | 3,316 |
Other Loans [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan maturities, Within 1 Year | 423 |
Loan maturities, After 1 but within 5 Years | 1,598 |
Loan maturities, After 5 Years | $ 7,468 |
Loans (Schedule Of Contractual
Loans (Schedule Of Contractual Aging Of Recorded Investment In Past Due Loans By Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | $ 16,126 | $ 16,212 |
Current | 1,303,410 | 1,074,591 |
Recorded Investment greater then 90 days and Accruing | 0 | 9 |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 341 | 1,003 |
Current | 118,747 | 96,198 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 |
Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 602 | 981 |
Current | 202,445 | 202,574 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 |
Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 405 | 857 |
Current | 381,516 | 336,437 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 |
Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 4,404 | 5,923 |
Current | 67,638 | 59,577 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 |
Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Current | 16,584 | 9,970 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 |
Non Jumbo [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 9,473 | 6,514 |
Current | 256,168 | 215,236 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 |
Jumbo [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Current | 65,628 | 50,313 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 359 | 646 |
Current | 74,237 | 73,654 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 |
Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | |
Current | 85,966 | |
Recorded Investment greater then 90 days and Accruing | 0 | |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 542 | 288 |
Current | 24,992 | 18,963 |
Recorded Investment greater then 90 days and Accruing | 0 | 9 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Current | 9,489 | 11,669 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 5,551 | 4,491 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 90 | 345 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 93 | 158 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 340 | 1 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 423 | 1,182 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non Jumbo [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 4,297 | 2,276 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Jumbo [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 374 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 308 | 155 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 2,490 | 3,466 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 86 | 26 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 386 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 129 | 194 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non Jumbo [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 1,889 | 2,647 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Jumbo [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 302 | 172 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 84 | 41 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 8,085 | 8,255 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 165 | 632 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 509 | 437 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 65 | 856 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 3,852 | 4,547 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non Jumbo [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 3,287 | 1,591 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Jumbo [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 57 | 100 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | 150 | 92 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due, Total | $ 0 | $ 0 |
Loans (Schedule Of Nonaccrual L
Loans (Schedule Of Nonaccrual Loans Included In Net Balance Of Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 14,574 | $ 15,759 |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 298 | 853 |
Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 509 | 437 |
Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 4,336 | 5,518 |
Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 4,465 | 5,623 |
Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Non Jumbo [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 4,621 | 2,987 |
Jumbo [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 194 | 258 |
Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 151 | $ 83 |
Loans (Schedule Of Loans Indivi
Loans (Schedule Of Loans Individually Evaluated For Impairment) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | $ 37,647 | $ 42,502 | |
Unpaid Principal Balance | 37,659 | 42,513 | |
Related Allowance | 1,404 | 776 | |
Average Impaired Balance | 37,895 | 44,060 | $ 46,600 |
Interest Income Recognized while impaired | 1,324 | 1,524 | $ 1,800 |
Commercial Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 285 | 242 | |
Without a related allowance, Unpaid Principal Balance | 285 | 242 | |
Without a related allowance, Average Impaired Balance | 247 | 319 | |
Without a related allowance, Interest Income Recognized while impaired | 10 | 17 | |
With a related allowance, Recorded Investment | 0 | 0 | |
With a related allowance, Unpaid Principal Balance | 0 | 0 | |
With a related allowance, Related Allowance | 0 | 0 | |
With a related allowance, Average Impaired Balance | 0 | 0 | |
With a related allowance, Interest Income Recognized while impaired | 0 | 0 | |
Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 520 | 5,401 | |
Without a related allowance, Unpaid Principal Balance | 520 | 5,402 | |
Without a related allowance, Average Impaired Balance | 534 | 5,438 | |
Without a related allowance, Interest Income Recognized while impaired | 31 | 191 | |
With a related allowance, Recorded Investment | 6,864 | 2,997 | |
With a related allowance, Unpaid Principal Balance | 6,864 | 2,997 | |
With a related allowance, Related Allowance | 347 | 45 | |
With a related allowance, Average Impaired Balance | 6,879 | 3,003 | |
With a related allowance, Interest Income Recognized while impaired | 269 | 135 | |
Non Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 10,203 | 10,740 | |
Without a related allowance, Unpaid Principal Balance | 10,205 | 10,741 | |
Without a related allowance, Average Impaired Balance | 10,675 | 9,982 | |
Without a related allowance, Interest Income Recognized while impaired | 294 | 310 | |
With a related allowance, Recorded Investment | 1,311 | 2,709 | |
With a related allowance, Unpaid Principal Balance | 1,311 | 2,709 | |
With a related allowance, Related Allowance | 197 | 386 | |
With a related allowance, Average Impaired Balance | 1,327 | 2,728 | |
With a related allowance, Interest Income Recognized while impaired | 43 | 72 | |
Land And Land Improvements [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 5,227 | 7,635 | |
Without a related allowance, Unpaid Principal Balance | 5,227 | 7,635 | |
Without a related allowance, Average Impaired Balance | 5,270 | 9,497 | |
Without a related allowance, Interest Income Recognized while impaired | 80 | 263 | |
With a related allowance, Recorded Investment | 2,066 | 1,139 | |
With a related allowance, Unpaid Principal Balance | 2,066 | 1,139 | |
With a related allowance, Related Allowance | 585 | 85 | |
With a related allowance, Average Impaired Balance | 2,074 | 1,154 | |
With a related allowance, Interest Income Recognized while impaired | 80 | 0 | |
Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 0 | 0 | |
Without a related allowance, Unpaid Principal Balance | 0 | 0 | |
Without a related allowance, Average Impaired Balance | 0 | 0 | |
Without a related allowance, Interest Income Recognized while impaired | 0 | 0 | |
With a related allowance, Recorded Investment | 0 | 0 | |
With a related allowance, Unpaid Principal Balance | 0 | 0 | |
With a related allowance, Related Allowance | 0 | 0 | |
With a related allowance, Average Impaired Balance | 0 | 0 | |
With a related allowance, Interest Income Recognized while impaired | 0 | 0 | |
Non Jumbo [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 4,055 | 3,590 | |
Without a related allowance, Unpaid Principal Balance | 4,065 | 3,600 | |
Without a related allowance, Average Impaired Balance | 3,910 | 3,316 | |
Without a related allowance, Interest Income Recognized while impaired | 193 | 160 | |
With a related allowance, Recorded Investment | 2,055 | 2,530 | |
With a related allowance, Unpaid Principal Balance | 2,057 | 2,531 | |
With a related allowance, Related Allowance | 251 | 226 | |
With a related allowance, Average Impaired Balance | 1,851 | 2,552 | |
With a related allowance, Interest Income Recognized while impaired | 78 | 114 | |
Jumbo [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 3,640 | 3,871 | |
Without a related allowance, Unpaid Principal Balance | 3,639 | 3,869 | |
Without a related allowance, Average Impaired Balance | 3,693 | 4,412 | |
Without a related allowance, Interest Income Recognized while impaired | 175 | 181 | |
With a related allowance, Recorded Investment | 853 | 871 | |
With a related allowance, Unpaid Principal Balance | 853 | 871 | |
With a related allowance, Related Allowance | 24 | 34 | |
With a related allowance, Average Impaired Balance | 862 | 878 | |
With a related allowance, Interest Income Recognized while impaired | 44 | 43 | |
Home Equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 524 | 709 | |
Without a related allowance, Unpaid Principal Balance | 523 | 709 | |
Without a related allowance, Average Impaired Balance | 523 | 709 | |
Without a related allowance, Interest Income Recognized while impaired | 22 | 32 | |
With a related allowance, Recorded Investment | 0 | 0 | |
With a related allowance, Unpaid Principal Balance | 0 | 0 | |
With a related allowance, Related Allowance | 0 | 0 | |
With a related allowance, Average Impaired Balance | 0 | 0 | |
With a related allowance, Interest Income Recognized while impaired | 0 | 0 | |
Mortgage Warehouse Lines [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 0 | ||
Without a related allowance, Unpaid Principal Balance | 0 | ||
Without a related allowance, Average Impaired Balance | 0 | ||
Without a related allowance, Interest Income Recognized while impaired | 0 | ||
With a related allowance, Recorded Investment | 0 | ||
With a related allowance, Unpaid Principal Balance | 0 | ||
With a related allowance, Related Allowance | 0 | ||
With a related allowance, Average Impaired Balance | 0 | ||
With a related allowance, Interest Income Recognized while impaired | 0 | ||
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 44 | 68 | |
Without a related allowance, Unpaid Principal Balance | 44 | 68 | |
Without a related allowance, Average Impaired Balance | 50 | 72 | |
Without a related allowance, Interest Income Recognized while impaired | 5 | 6 | |
With a related allowance, Recorded Investment | 0 | 0 | |
With a related allowance, Unpaid Principal Balance | 0 | 0 | |
With a related allowance, Related Allowance | 0 | 0 | |
With a related allowance, Average Impaired Balance | 0 | 0 | |
With a related allowance, Interest Income Recognized while impaired | 0 | 0 | |
Total Without a Related Allowance | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 24,498 | 32,256 | |
Without a related allowance, Unpaid Principal Balance | 24,508 | 32,266 | |
Without a related allowance, Average Impaired Balance | 24,902 | 33,745 | |
Without a related allowance, Interest Income Recognized while impaired | 810 | 1,160 | |
Total With a Related Allowance | |||
Financing Receivable, Impaired [Line Items] | |||
With a related allowance, Recorded Investment | 13,149 | 10,246 | |
With a related allowance, Unpaid Principal Balance | 13,151 | 10,247 | |
With a related allowance, Related Allowance | 1,404 | 776 | |
With a related allowance, Average Impaired Balance | 12,993 | 10,315 | |
With a related allowance, Interest Income Recognized while impaired | 514 | 364 | |
Total Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 26,476 | 30,863 | |
Unpaid Principal Balance | 26,478 | 30,865 | |
Related Allowance | 1,129 | 516 | |
Average Impaired Balance | 27,006 | 32,121 | |
Interest Income Recognized while impaired | 807 | 988 | |
Total Residential Real Estate | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 11,127 | 11,571 | |
Unpaid Principal Balance | 11,137 | 11,580 | |
Related Allowance | 275 | 260 | |
Average Impaired Balance | 10,839 | 11,867 | |
Interest Income Recognized while impaired | 512 | 530 | |
Total Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 44 | 68 | |
Unpaid Principal Balance | 44 | 68 | |
Related Allowance | 0 | 0 | |
Average Impaired Balance | 50 | 72 | |
Interest Income Recognized while impaired | $ 5 | $ 6 |
Loans (Schedule Of Restructured
Loans (Schedule Of Restructured Trouble Debt Restructuring By Class) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)contract | Dec. 31, 2015USD ($)contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 5 | 3 |
Pre-modification Recorded Investment | $ 695 | $ 1,209 |
Post-modification Recorded Investment | $ 698 | $ 1,209 |
Commercial Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 0 | 0 |
Pre-modification Recorded Investment | $ 0 | $ 0 |
Post-modification Recorded Investment | $ 0 | $ 0 |
Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 0 | 0 |
Pre-modification Recorded Investment | $ 0 | $ 0 |
Post-modification Recorded Investment | $ 0 | $ 0 |
Non Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 0 | 0 |
Pre-modification Recorded Investment | $ 0 | $ 0 |
Post-modification Recorded Investment | $ 0 | $ 0 |
Land And Land Improvements [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 0 | 1 |
Pre-modification Recorded Investment | $ 0 | $ 1,182 |
Post-modification Recorded Investment | $ 0 | $ 1,182 |
Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 0 | 0 |
Pre-modification Recorded Investment | $ 0 | $ 0 |
Post-modification Recorded Investment | $ 0 | $ 0 |
Non Jumbo [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 4 | 1 |
Pre-modification Recorded Investment | $ 693 | $ 25 |
Post-modification Recorded Investment | $ 696 | $ 25 |
Jumbo [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 0 | 0 |
Pre-modification Recorded Investment | $ 0 | $ 0 |
Post-modification Recorded Investment | $ 0 | $ 0 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 0 | 0 |
Pre-modification Recorded Investment | $ 0 | $ 0 |
Post-modification Recorded Investment | $ 0 | $ 0 |
Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 0 | 0 |
Pre-modification Recorded Investment | $ 0 | $ 0 |
Post-modification Recorded Investment | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | contract | 1 | 1 |
Pre-modification Recorded Investment | $ 2 | $ 2 |
Post-modification Recorded Investment | $ 2 | $ 2 |
Loans (Schedule Of Defaults Dur
Loans (Schedule Of Defaults During Stated Period Of Trouble Debt Restructurings) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)contract | Dec. 31, 2015USD ($)contract | |
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 4 | 1 |
Recorded Investment at Default Date | $ | $ 454 | $ 1,182 |
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 0 | 0 |
Recorded Investment at Default Date | $ | $ 0 | $ 0 |
Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 0 | 0 |
Recorded Investment at Default Date | $ | $ 0 | $ 0 |
Non Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 0 | 0 |
Recorded Investment at Default Date | $ | $ 0 | $ 0 |
Land And Land Improvements [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 0 | 1 |
Recorded Investment at Default Date | $ | $ 0 | $ 1,182 |
Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 0 | 0 |
Recorded Investment at Default Date | $ | $ 0 | $ 0 |
Non Jumbo [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 3 | 0 |
Recorded Investment at Default Date | $ | $ 452 | $ 0 |
Jumbo [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 0 | 0 |
Recorded Investment at Default Date | $ | $ 0 | $ 0 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 0 | 0 |
Recorded Investment at Default Date | $ | $ 0 | $ 0 |
Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 0 | 0 |
Recorded Investment at Default Date | $ | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Number of Defaults | contract | 1 | 0 |
Recorded Investment at Default Date | $ | $ 2 | $ 0 |
Loans (Schedule of the Activity
Loans (Schedule of the Activity Regarding TDRs by Loan Type) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | $ 30,525 |
Additions | 698 |
Charge-offs | (181) |
Net (paydowns) advances | (2,412) |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 28,630 |
Allowance related to troubled debt restructurings | 1,349 |
Land And Land Improvements [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 4,189 |
Additions | 0 |
Charge-offs | 0 |
Net (paydowns) advances | (323) |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 3,866 |
Allowance related to troubled debt restructurings | 530 |
Construction [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 0 |
Additions | 0 |
Charge-offs | 0 |
Net (paydowns) advances | 0 |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 0 |
Allowance related to troubled debt restructurings | 0 |
Commercial Loan [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 242 |
Additions | 0 |
Charge-offs | 0 |
Net (paydowns) advances | (59) |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 183 |
Allowance related to troubled debt restructurings | 0 |
Owner Occupied [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 9,314 |
Additions | 0 |
Charge-offs | (129) |
Net (paydowns) advances | (491) |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 8,694 |
Allowance related to troubled debt restructurings | 544 |
Non Owner Occupied [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 6,059 |
Additions | 0 |
Charge-offs | 0 |
Net (paydowns) advances | (656) |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 5,403 |
Allowance related to troubled debt restructurings | 0 |
Non Jumbo [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 5,496 |
Additions | 696 |
Charge-offs | (52) |
Net (paydowns) advances | (717) |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 5,423 |
Allowance related to troubled debt restructurings | 251 |
Jumbo [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 4,635 |
Additions | 0 |
Charge-offs | 0 |
Net (paydowns) advances | (141) |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 4,494 |
Allowance related to troubled debt restructurings | 24 |
Home Equity Line of Credit [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 523 |
Additions | 0 |
Charge-offs | 0 |
Net (paydowns) advances | 0 |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 523 |
Allowance related to troubled debt restructurings | 0 |
Mortgage Warehouse Lines [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 0 |
Additions | 0 |
Charge-offs | 0 |
Net (paydowns) advances | 0 |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 0 |
Allowance related to troubled debt restructurings | 0 |
Consumer Portfolio Segment [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 67 |
Additions | 2 |
Charge-offs | 0 |
Net (paydowns) advances | (25) |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 44 |
Allowance related to troubled debt restructurings | 0 |
Other Loans [Member] | |
Troubled Debt Restructurings [Roll Forward] | |
Troubled debt restructurings, beginning balance | 0 |
Additions | 0 |
Charge-offs | 0 |
Net (paydowns) advances | 0 |
Transfer into OREO | 0 |
Refinance out of TDR status | 0 |
Troubled debt restructurings, ending balance | 0 |
Allowance related to troubled debt restructurings | $ 0 |
Loans (Schedule Of Recorded Inv
Loans (Schedule Of Recorded Investment Evaluated Based On Internal Risk Ratings) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 1,319,536 | $ 1,090,803 |
Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 72,042 | 65,500 |
Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 16,584 | 9,970 |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 119,088 | 97,201 |
Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 203,047 | 203,555 |
Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 381,921 | 337,294 |
Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 85,966 | 0 |
Pass [Member] | Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 64,144 | 57,155 |
Pass [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 16,584 | 9,970 |
Pass [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 117,214 | 95,174 |
Pass [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 201,113 | 202,226 |
Pass [Member] | Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 375,181 | 329,861 |
Pass [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 85,966 | 0 |
Special Mention [Member] | Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,097 | 1,598 |
Special Mention [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Special Mention [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,471 | 1,295 |
Special Mention [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 567 | 546 |
Special Mention [Member] | Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,381 | 1,602 |
Special Mention [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Substandard [Member] | Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 5,801 | 6,747 |
Substandard [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Substandard [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 403 | 732 |
Substandard [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,367 | 783 |
Substandard [Member] | Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 5,359 | 5,831 |
Substandard [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Land And Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 0 | $ 0 |
Loans (Schedule Of Recorded I81
Loans (Schedule Of Recorded Investment Evaluated Based On Aging Status Of Loans And Payment Activity) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 435,907 | $ 373,936 |
Performing Financing Receivable [Member] | Non Jumbo [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 261,020 | 218,763 |
Performing Financing Receivable [Member] | Jumbo [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 65,628 | 50,313 |
Performing Financing Receivable [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 74,402 | 74,042 |
Performing Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 25,368 | 19,149 |
Performing Financing Receivable [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 9,489 | 11,669 |
Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 4,981 | 3,347 |
Nonperforming Financing Receivable [Member] | Non Jumbo [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 4,621 | 2,987 |
Nonperforming Financing Receivable [Member] | Jumbo [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Nonperforming Financing Receivable [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 194 | 258 |
Nonperforming Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 166 | 102 |
Nonperforming Financing Receivable [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 0 | $ 0 |
Loans Loans (Activity for Relat
Loans Loans (Activity for Related Party Loans of $60,000 or More) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Loans and Leases Receivable, Related Parties [Roll Forward] | ||
Balance, beginning | $ 22,974 | $ 20,586 |
Additions | 33,004 | 11,095 |
Amounts collected | (12,318) | (6,142) |
Other changes, net | (1,662) | (2,565) |
Balance, ending | $ 41,998 | $ 22,974 |
Allowance For Loan Losses (Narr
Allowance For Loan Losses (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2016USD ($)loan_poolreserve_component | |
Allowance for Loan and Lease Losses Write-offs, Net [Abstract] | |
Number of distinct reserve components | reserve_component | 3 |
Aggregate balance threshold for evaluating individual loans | $ | $ 500,000 |
Period for re-evaluation of fair value for collateral dependent loans | 12 months |
Number of loan pools for stratification | loan_pool | 11 |
Allocation of loan pool's average 12-month historical net loan charge-off | 100.00% |
Allowance For Loan Losses (Summ
Allowance For Loan Losses (Summary Of Analysis Of Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | $ 11,472 | $ 11,167 | $ 12,659 |
Total Losses | 1,555 | 2,151 | 4,833 |
Total Recoveries | 1,257 | 1,206 | 1,091 |
Net losses | 298 | 945 | 3,742 |
Provision for loan losses | 500 | 1,250 | 2,250 |
Ending balance | 11,674 | 11,472 | 11,167 |
Commercial Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 781 | 1,204 | |
Total Losses | 489 | 77 | 390 |
Total Recoveries | 73 | 10 | 34 |
Provision for loan losses | 569 | (356) | |
Ending balance | 934 | 781 | 1,204 |
Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 1,589 | 927 | |
Total Losses | 179 | 559 | 11 |
Total Recoveries | 31 | 290 | 40 |
Provision for loan losses | 668 | 931 | |
Ending balance | 2,109 | 1,589 | 927 |
Non Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 2,977 | 1,316 | |
Total Losses | 124 | 178 | 0 |
Total Recoveries | 17 | 13 | 318 |
Provision for loan losses | 568 | 1,826 | |
Ending balance | 3,438 | 2,977 | 1,316 |
Land And Land Development [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 2,852 | 3,417 | |
Total Losses | 127 | 457 | 3,535 |
Total Recoveries | 840 | 456 | 298 |
Provision for loan losses | (1,302) | (564) | |
Ending balance | 2,263 | 2,852 | 3,417 |
Construction Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 15 | 427 | |
Total Losses | 9 | 0 | 0 |
Total Recoveries | 0 | 0 | 0 |
Provision for loan losses | 18 | (412) | |
Ending balance | 24 | 15 | 427 |
Non Jumbo [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 1,253 | 1,280 | |
Total Losses | 169 | 417 | 435 |
Total Recoveries | 136 | 107 | 87 |
Provision for loan losses | 954 | 283 | |
Ending balance | 2,174 | 1,253 | 1,280 |
Jumbo [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 1,593 | 2,081 | |
Total Losses | 0 | 208 | 65 |
Total Recoveries | 6 | 96 | 163 |
Provision for loan losses | (1,504) | (376) | |
Ending balance | 95 | 1,593 | 2,081 |
Home Equity [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 253 | 187 | |
Total Losses | 175 | 76 | 14 |
Total Recoveries | 3 | 3 | 4 |
Provision for loan losses | 332 | 139 | |
Ending balance | 413 | 253 | 187 |
Mortgage Warehouse Lines [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 0 | ||
Total Losses | 0 | 0 | 0 |
Total Recoveries | 0 | 0 | 0 |
Provision for loan losses | 0 | ||
Ending balance | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 59 | 97 | |
Total Losses | 98 | 69 | 265 |
Total Recoveries | 76 | 105 | 74 |
Provision for loan losses | 84 | (74) | |
Ending balance | 121 | 59 | 97 |
Other | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 100 | 231 | |
Total Losses | 185 | 110 | 118 |
Total Recoveries | 75 | 126 | 73 |
Provision for loan losses | 113 | (147) | |
Ending balance | $ 103 | $ 100 | $ 231 |
Allowance For Loan Losses (Su85
Allowance For Loan Losses (Summary Of Net Unearned Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | $ 11,472 | $ 11,167 | $ 12,659 | ||
Total Losses | 1,555 | 2,151 | 4,833 | ||
Total Recoveries | 1,257 | 1,206 | 1,091 | ||
Provision for loan losses | 500 | 1,250 | 2,250 | ||
Ending balance | 11,674 | 11,472 | 11,167 | ||
Allowance related to: Loans individually evaluated for impairment | $ 1,404 | $ 776 | |||
Allowance related to: Loans collectively evaluated for impairment | 10,270 | 10,696 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 11,472 | 11,167 | 12,659 | 11,674 | 11,472 |
Loans individually evaluated for impairment | 37,647 | 42,513 | |||
Loans collectively evaluated for impairment | 1,279,688 | 1,048,290 | |||
Loans Acquired with Deteriorated Credit Quality | 2,201 | ||||
Total Loans | 1,319,536 | 1,090,803 | |||
Commercial Loan [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 781 | 1,204 | |||
Total Losses | 489 | 77 | 390 | ||
Total Recoveries | 73 | 10 | 34 | ||
Provision for loan losses | 569 | (356) | |||
Ending balance | 934 | 781 | 1,204 | ||
Allowance related to: Loans individually evaluated for impairment | 0 | 0 | |||
Allowance related to: Loans collectively evaluated for impairment | 934 | 781 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 781 | 1,204 | 1,204 | 934 | 781 |
Loans individually evaluated for impairment | 285 | 242 | |||
Loans collectively evaluated for impairment | 118,803 | 96,959 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 119,088 | 97,201 | |||
Owner Occupied [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 1,589 | 927 | |||
Total Losses | 179 | 559 | 11 | ||
Total Recoveries | 31 | 290 | 40 | ||
Provision for loan losses | 668 | 931 | |||
Ending balance | 2,109 | 1,589 | 927 | ||
Allowance related to: Loans individually evaluated for impairment | 347 | 45 | |||
Allowance related to: Loans collectively evaluated for impairment | 1,762 | 1,544 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 1,589 | 927 | 927 | 2,109 | 1,589 |
Loans individually evaluated for impairment | 7,384 | 8,399 | |||
Loans collectively evaluated for impairment | 195,663 | 195,156 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 203,047 | 203,555 | |||
Non Owner Occupied [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 2,977 | 1,316 | |||
Total Losses | 124 | 178 | 0 | ||
Total Recoveries | 17 | 13 | 318 | ||
Provision for loan losses | 568 | 1,826 | |||
Ending balance | 3,438 | 2,977 | 1,316 | ||
Allowance related to: Loans individually evaluated for impairment | 197 | 386 | |||
Allowance related to: Loans collectively evaluated for impairment | 3,241 | 2,591 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 2,977 | 1,316 | 1,316 | 3,438 | 2,977 |
Loans individually evaluated for impairment | 11,514 | 13,450 | |||
Loans collectively evaluated for impairment | 370,407 | 323,844 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 381,921 | 337,294 | |||
Land And Land Development [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 2,852 | 3,417 | |||
Total Losses | 127 | 457 | 3,535 | ||
Total Recoveries | 840 | 456 | 298 | ||
Provision for loan losses | (1,302) | (564) | |||
Ending balance | 2,263 | 2,852 | 3,417 | ||
Allowance related to: Loans individually evaluated for impairment | 585 | 85 | |||
Allowance related to: Loans collectively evaluated for impairment | 1,678 | 2,767 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 2,852 | 3,417 | 3,417 | 2,263 | 2,852 |
Loans individually evaluated for impairment | 7,293 | 8,774 | |||
Loans collectively evaluated for impairment | 64,354 | 56,726 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 71,647 | 65,500 | |||
Construction Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 15 | 427 | |||
Total Losses | 9 | 0 | 0 | ||
Total Recoveries | 0 | 0 | 0 | ||
Provision for loan losses | 18 | (412) | |||
Ending balance | 24 | 15 | 427 | ||
Allowance related to: Loans individually evaluated for impairment | 0 | 0 | |||
Allowance related to: Loans collectively evaluated for impairment | 24 | 15 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 15 | 427 | 427 | 24 | 15 |
Loans individually evaluated for impairment | 0 | 0 | |||
Loans collectively evaluated for impairment | 16,584 | 9,970 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 16,584 | 9,970 | |||
Non Jumbo [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 1,253 | 1,280 | |||
Total Losses | 169 | 417 | 435 | ||
Total Recoveries | 136 | 107 | 87 | ||
Provision for loan losses | 954 | 283 | |||
Ending balance | 2,174 | 1,253 | 1,280 | ||
Allowance related to: Loans individually evaluated for impairment | 251 | 225 | |||
Allowance related to: Loans collectively evaluated for impairment | 1,923 | 1,028 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 1,253 | 1,280 | 1,280 | 2,174 | 1,253 |
Loans individually evaluated for impairment | 6,110 | 6,131 | |||
Loans collectively evaluated for impairment | 258,741 | 215,619 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 264,851 | 221,750 | |||
Jumbo [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 1,593 | 2,081 | |||
Total Losses | 0 | 208 | 65 | ||
Total Recoveries | 6 | 96 | 163 | ||
Provision for loan losses | (1,504) | (376) | |||
Ending balance | 95 | 1,593 | 2,081 | ||
Allowance related to: Loans individually evaluated for impairment | 24 | 35 | |||
Allowance related to: Loans collectively evaluated for impairment | 71 | 1,558 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 1,593 | 2,081 | 2,081 | 95 | 1,593 |
Loans individually evaluated for impairment | 4,493 | 4,740 | |||
Loans collectively evaluated for impairment | 60,119 | 45,573 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 64,612 | 50,313 | |||
Home Equity [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 253 | 187 | |||
Total Losses | 175 | 76 | 14 | ||
Total Recoveries | 3 | 3 | 4 | ||
Provision for loan losses | 332 | 139 | |||
Ending balance | 413 | 253 | 187 | ||
Allowance related to: Loans individually evaluated for impairment | 0 | 0 | |||
Allowance related to: Loans collectively evaluated for impairment | 413 | 253 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 253 | 187 | 187 | 413 | 253 |
Loans individually evaluated for impairment | 524 | 709 | |||
Loans collectively evaluated for impairment | 74,072 | 73,591 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 74,596 | 74,300 | |||
Mortgage Warehouse Lines [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 0 | ||||
Total Losses | 0 | 0 | 0 | ||
Total Recoveries | 0 | 0 | 0 | ||
Provision for loan losses | 0 | ||||
Ending balance | 0 | 0 | |||
Allowance related to: Loans individually evaluated for impairment | 0 | ||||
Allowance related to: Loans collectively evaluated for impairment | 0 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 0 | 0 | 0 | 0 | |
Loans individually evaluated for impairment | 0 | ||||
Loans collectively evaluated for impairment | 85,966 | ||||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 85,966 | ||||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 59 | 97 | |||
Total Losses | 98 | 69 | 265 | ||
Total Recoveries | 76 | 105 | 74 | ||
Provision for loan losses | 84 | (74) | |||
Ending balance | 121 | 59 | 97 | ||
Allowance related to: Loans individually evaluated for impairment | 0 | 0 | |||
Allowance related to: Loans collectively evaluated for impairment | 121 | 59 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 59 | 97 | 97 | 121 | 59 |
Loans individually evaluated for impairment | 44 | 68 | |||
Loans collectively evaluated for impairment | 25,490 | 19,183 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 25,534 | 19,251 | |||
Other | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 100 | 231 | |||
Total Losses | 185 | 110 | 118 | ||
Total Recoveries | 75 | 126 | 73 | ||
Provision for loan losses | 113 | (147) | |||
Ending balance | 103 | 100 | 231 | ||
Allowance related to: Loans individually evaluated for impairment | 0 | 0 | |||
Allowance related to: Loans collectively evaluated for impairment | 103 | 100 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | 100 | 231 | $ 231 | 103 | 100 |
Loans individually evaluated for impairment | 0 | 0 | |||
Loans collectively evaluated for impairment | 9,489 | 11,669 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | ||||
Total Loans | 9,489 | 11,669 | |||
Purchase Credit Impaired [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Beginning balance | 0 | ||||
Total Losses | 0 | ||||
Total Recoveries | 0 | ||||
Provision for loan losses | 0 | ||||
Ending balance | 0 | 0 | |||
Allowance related to: Loans individually evaluated for impairment | 0 | ||||
Allowance related to: Loans collectively evaluated for impairment | 0 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | ||||
Total Allowance | $ 0 | $ 0 | 0 | $ 0 | |
Loans individually evaluated for impairment | 0 | ||||
Loans collectively evaluated for impairment | 0 | ||||
Loans Acquired with Deteriorated Credit Quality | 2,201 | ||||
Total Loans | $ 2,201 |
Property Held For Sale (Details
Property Held For Sale (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Activity of Property Held for Sale [Roll Forward] | |||
Beginning balance | $ 25,567 | $ 37,529 | $ 53,392 |
Acquisitions | 2,356 | 2,617 | 2,673 |
Real Estate Acquired Through Foreclosure Acquired through Merger Acquisition | 23 | 0 | 0 |
Capitalized improvements | 463 | 39 | 87 |
Dispositions | (3,237) | (12,203) | (14,852) |
Valuation adjustments | (668) | (2,415) | (3,771) |
Balance at year end | $ 24,504 | $ 25,567 | $ 37,529 |
Property Held For Sale Property
Property Held For Sale Property Held for Sale (Narrative) (Details) | Dec. 31, 2016USD ($) |
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract] | |
Foreclosed Property Consumer Residential Real Estate | $ 880,000 |
Premises And Equipment (Major C
Premises And Equipment (Major Categories Of Premises And Equipment And Accumulated Depreciation) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 45,216 | $ 42,321 |
Less accumulated depreciation | 21,479 | 20,749 |
Total premises and equipment, net | 23,737 | 21,572 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 6,741 | 6,308 |
Building and improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 23,028 | 21,461 |
Furniture and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 15,447 | $ 14,552 |
Premises And Equipment (Narrati
Premises And Equipment (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 1,224 | $ 1,076 | $ 1,074 |
Building [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 30 years | ||
Furniture and equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 3 years | ||
Furniture and equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 10 years |
Goodwill And Other Intangible90
Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | Oct. 01, 2016 | Dec. 31, 2016 | Dec. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Intangible assets acquired in business combination | $ 1,600 | ||
Finite-lived intangible assets, net | $ 2,663 | $ 1,300 | |
Finite-Lived Core Deposits, Gross | 1,560 | ||
Finite-Lived Customer Relationships, Gross | 1,100 | $ 1,300 | |
Acquired goodwill, net | $ 4,800 | $ 4,791 |
Goodwill And Other Intangible91
Goodwill And Other Intangible Assets (Summary Of Goodwill Activity) (Details) - USD ($) $ in Thousands | Oct. 01, 2016 | Dec. 31, 2016 |
Goodwill [Roll Forward] | ||
Beginning balance | $ 6,198 | |
Acquired goodwill, net | $ 4,800 | 4,791 |
Ending balance | 10,989 | |
Community Banking [Member] | ||
Goodwill [Roll Forward] | ||
Beginning balance | 1,488 | |
Acquired goodwill, net | 4,791 | |
Ending balance | 6,279 | |
Insurance Services [Member] | ||
Goodwill [Roll Forward] | ||
Beginning balance | 4,710 | |
Acquired goodwill, net | 0 | |
Ending balance | $ 4,710 |
Goodwill And Other Intangible92
Goodwill And Other Intangible Assets (Summary Of Other Intangible Assets) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Unidentifiable intangible assets [Abstract] | ||
Gross carrying amount | $ 0 | $ 2,268 |
Less: accumulated amortization | 0 | 2,268 |
Net carrying amount | 0 | 0 |
Identifiable intangible assets [Abstract] | ||
Gross carrying amount | 4,610 | 3,000 |
Less: accumulated amortization | 1,947 | 1,700 |
Net carrying amount | 2,663 | 1,300 |
Community Banking [Member] | ||
Unidentifiable intangible assets [Abstract] | ||
Gross carrying amount | 0 | 2,268 |
Less: accumulated amortization | 0 | 2,268 |
Net carrying amount | 0 | 0 |
Identifiable intangible assets [Abstract] | ||
Gross carrying amount | 1,610 | 0 |
Less: accumulated amortization | 47 | 0 |
Net carrying amount | 1,563 | 0 |
Insurance Services [Member] | ||
Unidentifiable intangible assets [Abstract] | ||
Gross carrying amount | 0 | 0 |
Less: accumulated amortization | 0 | 0 |
Net carrying amount | 0 | 0 |
Identifiable intangible assets [Abstract] | ||
Gross carrying amount | 3,000 | 3,000 |
Less: accumulated amortization | 1,900 | 1,700 |
Net carrying amount | $ 1,100 | $ 1,300 |
Goodwill And Other Intangible93
Goodwill And Other Intangible Assets Schedule of Amortization Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Amortization of Intangibles [Line Items] | |||
Amortization of Intangible Assets | $ 247 | $ 200 | $ 250 |
Core Deposits | |||
Schedule of Amortization of Intangibles [Line Items] | |||
Amortization of Intangible Assets | 47 | 0 | 0 |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 186 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 175 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 163 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 151 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 139 | ||
Customer-Related Intangible Assets [Member] | |||
Schedule of Amortization of Intangibles [Line Items] | |||
Amortization of Intangible Assets | 200 | $ 200 | $ 250 |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 200 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 200 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 200 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 200 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 200 |
Deposits (Summary Of Interest B
Deposits (Summary Of Interest Bearing Deposits By Type) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Demand deposits, interest bearing | $ 262,591 | $ 215,721 |
Savings deposits | 337,348 | 266,825 |
Time deposits | 545,843 | 465,153 |
Total | $ 1,145,782 | $ 947,699 |
Deposits (Summary Of Scheduled
Deposits (Summary Of Scheduled Maturities For All Time Deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
2,017 | $ 268,023 | |
2,018 | 107,333 | |
2,019 | 60,416 | |
2,020 | 46,405 | |
2,021 | 36,137 | |
Thereafter | 27,529 | |
Total | $ 545,843 | $ 465,153 |
Deposits (Summary Of Maturity D
Deposits (Summary Of Maturity Distribution Of All Certificates Of Deposit) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Three months or less | $ 45,912 | |
Three through six months | 75,066 | |
Six through twelve months | 83,255 | |
Over twelve months | 208,821 | |
Total | $ 413,054 | $ 342,673 |
Three months or less, percentage | 11.10% | |
Three through six months, percentage | 18.20% | |
Six through twelve months, percentage | 20.20% | |
Over twelve months, percentage | 50.50% | |
Total, percentage | 100.00% |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Time Deposits in denominations that meet or exceed the FDIC Insurance limit | $ 235,100 | |
Time deposits acquired through a third party (brokered deposits) | 205,700 | $ 126,500 |
Time Deposits, $100,000 or More | 413,054 | 342,673 |
Related party deposit liabilities | $ 14,700 | $ 21,200 |
Borrowed Funds (Narrative) (Det
Borrowed Funds (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Security Owned and Pledged as Collateral, Fair Value | $ 103.3 | $ 131.2 |
Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Additional borrowings available from the FHLB | 342.6 | |
Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Line of credit | 6 | |
Line of Credit [Member] | Federal Reserve Bank Advances [Member] | ||
Debt Instrument [Line Items] | ||
Line of credit | 101 | |
Repurchase Agreements [Member] | ||
Debt Instrument [Line Items] | ||
Security Owned and Pledged as Collateral, Fair Value | $ 48 |
Borrowed Funds (Short-term Borr
Borrowed Funds (Short-term Borrowings) (Narrative) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Debt Disclosure [Abstract] | |
Borrowing availability through credit lines and Federal funds purchased agreements | $ 107 |
Borrowed Funds (Summary Of Shor
Borrowed Funds (Summary Of Short-Term Borrowings) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | ||
Balance at December 31 | $ 224,461 | $ 171,394 |
Short-term FHLB Advances [Member] | ||
Debt Instrument [Line Items] | ||
Balance at December 31 | 221,000 | 167,950 |
Average balance outstanding for the period | 187,420 | 146,412 |
Maximum balance outstanding at any month end during period | $ 231,200 | $ 171,160 |
Weighted average interest rate for the period | 0.79% | 0.43% |
Weighted average interest rate for balances outstanding | 0.60% | 0.35% |
Federal Funds Purchased and Lines of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Balance at December 31 | $ 3,461 | $ 3,444 |
Average balance outstanding for the period | 3,456 | 4,690 |
Maximum balance outstanding at any month end during period | $ 3,462 | $ 7,438 |
Weighted average interest rate for the period | 0.75% | 0.50% |
Weighted average interest rate for balances outstanding | 0.51% | 0.26% |
Borrowed Funds (Long-term Borro
Borrowed Funds (Long-term Borrowings) (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Debt Disclosure [Abstract] | ||
Basis spread on variable rate | 0.50% | |
Long-term borrowings | $ 46,670 | $ 75,581 |
Average interest rate paid on long-term borrowings | 4.44% | 4.39% |
Borrowed Funds (Summary Of Long
Borrowed Funds (Summary Of Long-Term Borrowings) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
Long-term FHLB advances | $ 767 | $ 873 |
Long-term repurchase agreements | 45,000 | 72,000 |
Term loan | 903 | 2,708 |
Total | $ 46,670 | $ 75,581 |
Borrowed Funds Borrowed Funds (
Borrowed Funds Borrowed Funds (Subordinated Debentures) (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||
Subordinated debentures | $ 16,800 | |
Basis spread on variable rate | 0.50% |
Borrowed Funds (Subordinated De
Borrowed Funds (Subordinated Debentures Owed to Unconsolidated Subsidiary Trusts) (Narrative) (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2005USD ($) | Mar. 31, 2004USD ($) | Oct. 31, 2002USD ($) | Dec. 31, 2016USD ($)trust | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Debt Instrument [Line Items] | ||||||
Number of Statutory Business Trusts | trust | 3 | |||||
Subordinated debentures owed to unconsolidated subsidiary trusts | $ 19,589 | $ 19,589 | ||||
Ownership percentage | 100.00% | |||||
Net proceeds from issuance of common stock | $ 101 | $ 4,772 | $ 7,822 | |||
Basis spread on variable rate | 0.50% | |||||
Trust preferred securities limited to tier one capital elements, Nnt of goodwill | 25.00% | |||||
Sfg Capital Trust I [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Proceeds from issuance or sale of equity | $ 3,500 | |||||
Net proceeds from issuance of common stock | 109 | |||||
Payments to acquire investments | $ 3,610 | |||||
Basis spread on variable rate | 3.45% | |||||
Sfg Capital Trust Ii [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Proceeds from issuance or sale of equity | $ 7,500 | |||||
Net proceeds from issuance of common stock | 232 | |||||
Payments to acquire investments | $ 7,730 | |||||
Basis spread on variable rate | 2.80% | |||||
Sfg Capital Trust Iii [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Proceeds from issuance or sale of equity | $ 8,000 | |||||
Net proceeds from issuance of common stock | 248 | |||||
Payments to acquire investments | $ 8,250 | |||||
Basis spread on variable rate | 1.45% |
Borrowed Funds (Summary Of The
Borrowed Funds (Summary Of The Maturities Of All Long-Term Borrowings And Subordinated Debentures) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Total | $ 46,670 | $ 75,581 |
Long-term borrowings [Member] | ||
2,017 | 918 | |
2,018 | 45,017 | |
2,019 | 18 | |
2,020 | 19 | |
2,021 | 20 | |
Thereafter | 678 | |
Total | 46,670 | |
Subordinated debentures owed to unconsolidated subsidiary trusts [Member] | ||
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
2,021 | 0 | |
Thereafter | 19,589 | |
Total | $ 19,589 |
Derivative Financial Instrum106
Derivative Financial Instruments Derivative Financial Instruments (Narrative) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($)contract | |
Derivative [Line Items] | |
Number of instruments held | contract | 3 |
Forward Contract effective July 18 2016 [Member] | |
Derivative [Line Items] | |
Derivative, notional amount | $ 40,000 |
Cash flow hedges, notional amount | $ 40,000 |
Swaption interest rate | 2.98% |
Term of contract | 3 years |
Forward Contract effective April 18 2016 [Member] | |
Derivative [Line Items] | |
Derivative, notional amount | $ 30,000 |
Cash flow hedges, notional amount | $ 30,000 |
Swaption interest rate | 2.89% |
Term of contract | 4 years 6 months |
Forward Contract effective October 18 2016 [Member] | |
Derivative [Line Items] | |
Derivative, notional amount | $ 40,000 |
Cash flow hedges, notional amount | $ 40,000 |
Swaption interest rate | 2.841% |
Term of contract | 3 years |
Fair Value Hedging [Member] | |
Derivative [Line Items] | |
Number of instruments held | contract | 2 |
Fair Value Hedging [Member] | Commercial Real Estate [Member] | Interest Rate Swap effective January 15 2015 [Member] | |
Derivative [Line Items] | |
Derivative, notional amount | $ 9,950 |
Swaption interest rate | 4.33% |
Term of contract | 10 years |
Fair Value Hedging [Member] | Commercial Real Estate [Member] | Interest Rate Swap effective December 18 2015 [Member] | |
Derivative [Line Items] | |
Derivative, notional amount | $ 11,300 |
Swaption interest rate | 4.30% |
Term of contract | 10 years |
Derivative Financial Instrum107
Derivative Financial Instruments (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Short-term Debt [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, notional amount | $ 110,000 | $ 110,000 |
Fair Value Hedge Assets | 0 | 0 |
Fair Value Hedge Liabilities | 4,611 | 5,071 |
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | 0 | 0 |
Commercial Real Estate [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, notional amount | 20,507 | 21,250 |
Fair Value Hedge Assets | 200 | 94 |
Fair Value Hedge Liabilities | 0 | 95 |
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | $ 0 | $ 0 |
Income Taxes (Schedule of Compo
Income Taxes (Schedule of Components of Applicable Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current | |||
Federal | $ 7,738 | $ 6,219 | $ 3,380 |
State | 627 | 484 | 294 |
Total Current | 8,365 | 6,703 | 3,674 |
Deferred | |||
Federal | (353) | 165 | 920 |
State | (4) | 25 | 84 |
Total Deferred | (357) | 190 | 1,004 |
Applicable income taxes | $ 8,008 | $ 6,893 | $ 4,678 |
Income Taxes (Reconciliation In
Income Taxes (Reconciliation Income Tax Expense And Statutory Income Tax Rates) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Amount | |||
Computed tax at applicable statutory rate | $ 8,857 | $ 8,048 | $ 5,612 |
Tax-exempt interest and dividends, net | (1,080) | (1,047) | (996) |
State income taxes, net of Federal income tax benefit | 405 | 331 | 245 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount | 108 | 0 | 0 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount | (55) | 0 | 0 |
Other, net | (227) | (439) | (183) |
Applicable income taxes | $ 8,008 | $ 6,893 | $ 4,678 |
Percent | |||
Computed tax at applicable statutory rate | 35.00% | 35.00% | 35.00% |
Tax-exempt interest and dividends, net | (4.00%) | (4.00%) | (6.00%) |
State income taxes, net of Federal income tax benefit | 2.00% | 1.00% | 1.00% |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent | 0.00% | 0.00% | 0.00% |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent | 0.00% | 0.00% | 0.00% |
Other, net | (1.00%) | (2.00%) | (1.00%) |
Applicable income taxes | 32.00% | 30.00% | 29.00% |
Income Taxes (Schedule of Defer
Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets | ||
Allowance for loan losses | $ 4,320 | $ 4,245 |
Depreciation | 97 | 168 |
Foreclosed properties | 4,184 | 4,506 |
Deferred Revenue | 38 | 0 |
Deferred compensation | 3,118 | 2,554 |
Other deferred costs and accrued expenses | 440 | 387 |
Other-than-temporarily impaired securities | 257 | 257 |
Deferred Tax Assets, Unrealized Losses on Available-for-Sale Securities, Gross | 208 | 0 |
Net unrealized loss on interest rate swaps | 1,706 | 1,876 |
NOL and tax credit carryforwards | 0 | 25 |
Total | 14,368 | 14,018 |
Deferred tax liabilities | ||
Accretion on tax-exempt securities | 0 | 3 |
Net unrealized gain on securities available for sale | 0 | 1,609 |
Purchase accounting adjustments and goodwill | 701 | 743 |
Total | 701 | 2,355 |
Net deferred tax assets | $ 13,667 | $ 11,663 |
Employee Benefits (Narrative) (
Employee Benefits (Narrative) (Details) - USD ($) | Jul. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jul. 21, 2015 | May 31, 2014 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 240,000 | $ 25,000 | $ 38,000 | ||||
Contributions to the plans | $ 381,000 | $ 360,000 | $ 362,000 | ||||
Shares owned by ESOP | 588,193 | 588,193 | |||||
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 35,283 | 26,511 | |||||
Stock Issued During Period, Value, Employee Stock Ownership Plan | $ 649,000 | $ 312,000 | |||||
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 146,539 | 181,822 | |||||
Common stock, shares authorized | 20,000,000 | 20,000,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 0 | 166,717 | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 200,000 | $ 1,000 | $ 3,000 | ||||
Allocated Share-based Compensation Expense | 200,000 | 151,000 | 1,000 | ||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 74,000 | 56,000 | 0 | ||||
Supplemental Employee Retirement Plan [Member] | |||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||
Accrued liabilities | 4,900,000 | 4,300,000 | |||||
Supplemental Employee Retirement Plan Expense | 510,000 | 539,000 | 483,000 | ||||
2014 LTIP [Member] | |||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||
Common stock, shares authorized | 500,000 | ||||||
Summit Financial Group Inc. Employee Stock Ownership Plan [Member] | |||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||
Contributions to the ESOP | $ 635,000 | $ 429,000 | $ 714,000 | ||||
Shares owned by ESOP | 588,193 | ||||||
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 225,000 | ||||||
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased | $ 10.80 | ||||||
Stock Issued During Period, Value, Employee Stock Ownership Plan | $ 2,430,000 | ||||||
Employee Stock Ownership Plan (ESOP), Debt Structure, Indirect Loan, Amount | $ 2,250,000 | ||||||
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 146,539 | 208,333 | |||||
Stock Appreciation Rights (SARs) [Member] | |||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 166,717 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 6.01 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.96% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 2.75% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 61.84% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 10 years |
Employee Benefits (Summary Of A
Employee Benefits (Summary Of Activity In Stock Option Plans) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Options / SARs | |||
Outstanding Options, Beginning Balance | 244,147 | 157,170 | 185,410 |
Outstanding Options, Granted | 0 | 166,717 | 0 |
Outstanding Options, Exercised | (24,740) | (6,560) | (10,160) |
Outstanding Options, Forfeited | 0 | 0 | (6,500) |
Outstanding Options, Expired | (1,550) | (73,180) | (11,580) |
Outstanding Options, Ending Balance | 217,857 | 244,147 | 157,170 |
Exercise Price | |||
Outstanding, Weighted-Average Exercise Price, Beginning Balance | $ 14.05 | $ 20.43 | $ 19.59 |
Outstanding, Weighted-Average Exercise Price, Granted | 0 | 12.01 | 0 |
Outstanding, Weighted-Average Exercise Price, Exercised | 18.08 | 7.87 | 6.98 |
Outstanding, Weighted-Average Exercise Price, Forfeited | 0 | 0 | 24.44 |
Outstanding, Weighted-Average Exercise Price, Expired | 18.79 | 23.67 | 16.64 |
Outstanding, Weighted-Average Exercise Price, Ending Balance | $ 13.56 | $ 14.05 | $ 20.43 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 3,044 | ||
Options Outstanding, Wted. Avg. Remaining Contractual Life (yrs) | 6 years 11 months 1 day | ||
Exercisable Options, Ending Balance | 84,483 | 77,430 | 156,170 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 974 | $ 103 | $ 124 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | 4 years 8 months 23 days | 2 years 7 months 13 days | 2 years 2 months 12 days |
Exercisable Options, Weighted-Average Exercise Price, Ending Balance | $ 16 | $ 18.43 | $ 20.54 |
Employee Benefits Employee Stoc
Employee Benefits Employee Stock Ownership Plan (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Employee Stock Ownership Plan [Abstract] | ||
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares | 406,371 | 379,860 |
Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares | 35,283 | 26,511 |
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 146,539 | 181,822 |
Employee Stock Ownership Plan (ESOP), Shares in ESOP | 588,193 | 588,193 |
Employee Stock Ownership Plan (ESOP), Deferred Shares, Fair Value | $ 4,034 | $ 2,160 |
Commitments and Contingencie114
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loss Contingencies [Line Items] | ||
Total unfunded commitments | $ 240,427 | $ 145,129 |
Revolving home equity and credit card lines [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded commitments | 63,769 | 58,008 |
Construction loans [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded commitments | 41,472 | 32,044 |
Other loans [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded commitments | 131,291 | 49,775 |
Standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded commitments | $ 3,895 | $ 5,302 |
Commitments and Contingencie115
Commitments and Contingencies (Narrative) (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Jul. 25, 2014action | |
Commitments and Contingencies Disclosure [Abstract] | ||||
Aggregate minimum annual rental commitments under operating leases in 2017 | $ 270 | |||
Aggregate minimum annual rental commitments under operating leases in 2018 | 182 | |||
Net rent expense | $ 261 | $ 285 | $ 291 | |
Number of causes of action | action | 3 |
Preferred Stock Preferred St116
Preferred Stock Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions | Mar. 12, 2015 | Dec. 31, 2011 | Sep. 30, 2009 | Dec. 31, 2016 | Dec. 31, 2015 |
Class of Stock [Line Items] | |||||
Par value | $ 1 | $ 1 | |||
Series 2009 Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Shares issued | 3,710 | ||||
Preferred stock, including additional paid in capital | $ 3.7 | ||||
Dividend rate | 8.00% | 8.00% | |||
Par value | $ 1 | $ 1 | |||
Liquidation preference per share | $ 1,000 | $ 1,000 | |||
Series 2011 Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Shares issued | 12,000 | ||||
Preferred stock, including additional paid in capital | $ 6 | ||||
Dividend rate | 8.00% | 8.00% | |||
Par value | $ 1 | $ 1 | |||
Liquidation preference per share | $ 500 | $ 500 | |||
Preferred Non-Convertible Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Dividend rate | 8.00% |
Common Stock Issuances (Details
Common Stock Issuances (Details) | Mar. 17, 2015USD ($)shares | Nov. 25, 2014USD ($)shares | Aug. 25, 2014USD ($)closing$ / sharesshares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares |
Subsidiary or Equity Method Investee [Line Items] | ||||||
Common stock, shares issued | 10,883,509 | 10,853,566 | ||||
Number of shares | 0 | 499,665 | 819,384 | |||
Net proceeds from issuance of common stock | $ | $ 101,000 | $ 4,772,000 | $ 7,822,000 | |||
Private Placement [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Number of shares authorized to sell | 1,057,137 | |||||
Percent of outstanding common stock | 9.90% | |||||
Share price | $ / shares | $ 9.75 | |||||
Number of closings | closing | 2 | |||||
Number of shares | 237,753 | 819,384 | ||||
Aggregate price | $ | $ 2,318,092 | $ 7,988,994 | ||||
Dividend rate | 8.00% | |||||
Rights Offering [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Number of shares authorized to sell | 256,410 | |||||
Common stock, shares issued | 256,167 | |||||
Share price | $ / shares | $ 9.75 | |||||
Net proceeds from issuance of common stock | $ | $ 2,500,000 |
Regulatory Matters (Narrative)
Regulatory Matters (Narrative) (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Required reserve balance | $ 1,740,000 | |
Scenario, Forecast [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Amount Available for Dividend Distribution without Affecting Capital Adequacy Requirements | $ 21,100,000 |
Regulatory Matters (Summary Of
Regulatory Matters (Summary Of Actual Capital Amounts And Ratios) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Summit [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier One Common Equity | $ 146,494 | $ 137,849 |
Tier One Common Equity to Risk Weighted Assets | 10.50% | 11.80% |
Tier One Common Equity Required for Capital Adequacy | $ 97,663 | $ 81,775 |
Tier One Common Equity Required for Capital Adequacy to Risk Weighted Assets | 7.00% | 7.00% |
Tier One Common Equity Required to be Well Capitalized | $ 90,687 | $ 75,934 |
Tier One Common Equity Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Tier I Capital (to risk weighted assets ), Actual Amount | $ 164,357 | $ 156,849 |
Tier I Capital (to risk weighted assets), Actual Ratio | 11.80% | 13.40% |
Tier I Capital (to risk weighted assets), Minimum Required Regulatory Capital, Amount | $ 118,393 | $ 99,494 |
Tier I Capital (to risk weighted assets), Minimum Required Regulatory Capital, Ratio | 8.50% | 8.50% |
Tier I Capital (to risk weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Amount | $ 111,428 | $ 93,641 |
Tier I Capital (to risk weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Total Capital (to risk weighted assets), Actual Amount | $ 176,031 | $ 168,321 |
Total Capital (to risk weighted assets), Actual Ratio | 12.60% | 14.40% |
Total Capital (to risk weighted assets), Minimum Required Regulatory Capital, Amount | $ 146,693 | $ 122,734 |
Total Capital (to risk weighted assets), Minimum Required Regulatory Capital, Ratio | 10.50% | 10.50% |
Total Capital (to risk weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Amount | $ 139,707 | $ 116,890 |
Total Capital (to risk weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier I Capital (to average assets), Actual Amount | $ 164,357 | $ 156,849 |
Tier I Capital (to average assets), Actual Ratio | 9.40% | 10.70% |
Tier I Capital (to average assets), Minimum Required Regulatory Capital, Amount | $ 69,939 | $ 58,635 |
Tier I Capital (to average assets), Minimum Required Regulatory Capital, Ratio | 4.00% | 4.00% |
Tier I Capital (to average assets), To be Well Capitalized under Prompt Corrective Action Provisions, Amount | $ 87,424 | $ 73,294 |
Tier I Capital (to average assets), To be Well Capitalized under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Summit Community [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier One Common Equity | $ 165,747 | $ 158,081 |
Tier One Common Equity to Risk Weighted Assets | 11.90% | 13.60% |
Tier One Common Equity Required for Capital Adequacy | $ 97,498 | $ 81,365 |
Tier One Common Equity Required for Capital Adequacy to Risk Weighted Assets | 7.00% | 7.00% |
Tier One Common Equity Required to be Well Capitalized | $ 90,534 | $ 75,553 |
Tier One Common Equity Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Tier I Capital (to risk weighted assets ), Actual Amount | $ 165,747 | $ 158,081 |
Tier I Capital (to risk weighted assets), Actual Ratio | 11.90% | 13.60% |
Tier I Capital (to risk weighted assets), Minimum Required Regulatory Capital, Amount | $ 118,391 | $ 98,801 |
Tier I Capital (to risk weighted assets), Minimum Required Regulatory Capital, Ratio | 8.50% | 8.50% |
Tier I Capital (to risk weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Amount | $ 111,427 | $ 92,989 |
Tier I Capital (to risk weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Total Capital (to risk weighted assets), Actual Amount | $ 177,421 | $ 169,553 |
Total Capital (to risk weighted assets), Actual Ratio | 12.70% | 14.50% |
Total Capital (to risk weighted assets), Minimum Required Regulatory Capital, Amount | $ 146,687 | $ 122,780 |
Total Capital (to risk weighted assets), Minimum Required Regulatory Capital, Ratio | 10.50% | 10.50% |
Total Capital (to risk weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Amount | $ 139,702 | $ 116,933 |
Total Capital (to risk weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier I Capital (to average assets), Actual Amount | $ 165,747 | $ 158,081 |
Tier I Capital (to average assets), Actual Ratio | 9.50% | 10.80% |
Tier I Capital (to average assets), Minimum Required Regulatory Capital, Amount | $ 69,788 | $ 58,549 |
Tier I Capital (to average assets), Minimum Required Regulatory Capital, Ratio | 4.00% | 4.00% |
Tier I Capital (to average assets), To be Well Capitalized under Prompt Corrective Action Provisions, Amount | $ 87,235 | $ 73,186 |
Tier I Capital (to average assets), To be Well Capitalized under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Segment Information Segment Inf
Segment Information Segment Information (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2016officesegment | |
Segment Reporting Information [Line Items] | |
Number of business segments | segment | 2 |
Insurance and Financial Services Segment [Member] | |
Segment Reporting Information [Line Items] | |
Number of Insurance Agency Offices | office | 3 |
Segment Information (Schedule O
Segment Information (Schedule Of Segment Information) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Net interest income | $ 49,007 | $ 46,016 | $ 42,385 |
Provision for loan losses | 500 | 1,250 | 2,250 |
Net interest income after provision for loan losses | 48,507 | 44,766 | 40,135 |
Other income | 11,600 | 11,861 | 11,223 |
Other expenses | 34,802 | 33,632 | 35,324 |
Income before income taxes | 25,305 | 22,995 | 16,034 |
Income tax expense (benefit) | 8,008 | 6,893 | 4,678 |
Net Income | 17,297 | 16,102 | 11,356 |
Dividends on preferred shares | 0 | 0 | 771 |
Net income (loss) applicable to common shares | 17,297 | 16,102 | 10,585 |
Inter-segment revenue (expense) | 0 | 0 | 0 |
Average assets | 1,599,597 | 1,466,587 | 1,420,002 |
Capital Expenditures | 1,857 | 2,588 | 511 |
Community Banking [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 49,649 | 46,744 | 44,209 |
Provision for loan losses | 500 | 1,250 | 2,250 |
Net interest income after provision for loan losses | 49,149 | 45,494 | 41,959 |
Other income | 7,213 | 7,324 | 6,299 |
Other expenses | 29,482 | 28,060 | 30,579 |
Income before income taxes | 26,880 | 24,758 | 17,679 |
Income tax expense (benefit) | 8,579 | 7,542 | 5,191 |
Net Income | 18,301 | 17,216 | 12,488 |
Dividends on preferred shares | 0 | ||
Net income (loss) applicable to common shares | 12,488 | ||
Inter-segment revenue (expense) | (1,441) | (1,047) | (1,071) |
Average assets | 1,620,723 | 1,496,396 | 1,466,521 |
Capital Expenditures | 1,730 | 2,530 | 470 |
Insurance Services [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 0 | 0 | 0 |
Provision for loan losses | 0 | 0 | 0 |
Net interest income after provision for loan losses | 0 | 0 | 0 |
Other income | 4,400 | 4,537 | 4,882 |
Other expenses | 4,053 | 4,315 | 4,188 |
Income before income taxes | 347 | 222 | 694 |
Income tax expense (benefit) | 144 | 43 | 226 |
Net Income | 203 | 179 | 468 |
Dividends on preferred shares | 0 | ||
Net income (loss) applicable to common shares | 468 | ||
Inter-segment revenue (expense) | (113) | (86) | (118) |
Average assets | 5,984 | 5,923 | 6,130 |
Capital Expenditures | 36 | 12 | 35 |
Parent [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | (642) | (728) | (1,824) |
Provision for loan losses | 0 | 0 | 0 |
Net interest income after provision for loan losses | (642) | (728) | (1,824) |
Other income | 1,541 | 1,133 | 1,231 |
Other expenses | 2,821 | 2,390 | 1,746 |
Income before income taxes | (1,922) | (1,985) | (2,339) |
Income tax expense (benefit) | (715) | (692) | (739) |
Net Income | (1,207) | (1,293) | (1,600) |
Dividends on preferred shares | 771 | ||
Net income (loss) applicable to common shares | (2,371) | ||
Inter-segment revenue (expense) | 1,554 | 1,133 | 1,189 |
Average assets | 173,999 | 167,839 | 164,769 |
Capital Expenditures | 91 | 46 | 6 |
Intersegment Elimination [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 0 | 0 | 0 |
Provision for loan losses | 0 | 0 | 0 |
Net interest income after provision for loan losses | 0 | 0 | 0 |
Other income | (1,554) | (1,133) | (1,189) |
Other expenses | (1,554) | (1,133) | (1,189) |
Income before income taxes | 0 | 0 | 0 |
Income tax expense (benefit) | 0 | 0 | 0 |
Net Income | 0 | 0 | 0 |
Dividends on preferred shares | 0 | ||
Net income (loss) applicable to common shares | 0 | ||
Inter-segment revenue (expense) | 0 | 0 | 0 |
Average assets | (201,109) | (203,571) | (217,418) |
Capital Expenditures | $ 0 | $ 0 | $ 0 |
Earnings Per Share (Computation
Earnings Per Share (Computations Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Line Items] | |||
Net income | $ 17,297 | $ 16,102 | $ 11,356 |
Less preferred stock dividends | 0 | 0 | (771) |
Net income (loss) applicable to common shares | $ 17,297 | $ 16,102 | $ 10,585 |
Basic EPS, Common Shares (Denominator) (in shares) | 10,689,224 | 10,295,434 | 7,539,444 |
Basic EPS (in dollars per share) | $ 1.62 | $ 1.56 | $ 1.40 |
Diluted EPS, Stock options, Common Shares (Denominator) (in shares) | 11,612 | 8,353 | 9,381 |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 16,035 | ||
Diluted EPS, Income (Numerator) | $ 17,297 | $ 16,102 | $ 11,356 |
Diluted EPS, Common Shares (Denominator) (in shares) | 10,716,871 | 10,715,275 | 9,711,561 |
Diluted EPS (in dollars per share) | $ 1.61 | $ 1.50 | $ 1.17 |
Series 2011 Preferred Stock [Member] | |||
Earnings Per Share [Line Items] | |||
Diluted EPS, convertible preferred stock dividend, Income (Numerator) | $ 0 | $ 0 | $ 476 |
Diluted EPS, convertible preferred stock, Common Shares (Denominator) (in shares) | 0 | 285,610 | 1,489,735 |
Series 2009 Preferred Stock [Member] | |||
Earnings Per Share [Line Items] | |||
Diluted EPS, convertible preferred stock dividend, Income (Numerator) | $ 0 | $ 0 | $ 295 |
Diluted EPS, convertible preferred stock, Common Shares (Denominator) (in shares) | 0 | 125,878 | 673,001 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 23,400 | 57,000 | 128,900 |
Stock Appreciation Rights (SARs) [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 166,717 |
Accumulated Other Comprehens124
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (3,262) | $ (456) | $ 2,072 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (2,096) | (1,618) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (710) | (910) | |
Other Comprehensive Income (Loss), Net of Tax | (2,806) | (2,528) | 2,093 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (2,906) | (3,195) | (1,834) |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 289 | (1,361) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | |
Other Comprehensive Income (Loss), Net of Tax | 289 | (1,361) | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (356) | 2,739 | $ 3,906 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (2,385) | (257) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (710) | (910) | |
Other Comprehensive Income (Loss), Net of Tax | $ (3,095) | $ (1,167) |
Accumulated Other Comprehens125
Accumulated Other Comprehensive Income (Loss) Reclassification out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | $ (1,127) | $ (1,444) | $ (213) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 417 | 534 | $ 79 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (710) | (910) | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | (1,127) | (1,444) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | (1,127) | (1,444) | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 417 | 534 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ (710) | $ (910) |
Condensed Financial Statemen126
Condensed Financial Statements Of Parent Company (Balance Sheets) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Condensed Financial Statements, Captions [Line Items] | ||||
Securities available for sale | $ 266,542 | $ 280,792 | ||
Premises and equipment | 23,737 | 21,572 | ||
Other assets | 17,306 | 15,178 | ||
Total assets | 1,758,647 | 1,492,429 | ||
Long-term borrowings | 46,670 | 75,581 | ||
Subordinated debentures | $ 16,800 | |||
Subordinated debentures owed to unconsolidated subsidiary trusts | 19,589 | 19,589 | ||
Other liabilities | 17,048 | 15,412 | ||
Total liabilities | 1,603,287 | 1,348,685 | ||
Preferred stock, $1.00 par value, authorized 250,000 shares | 0 | 0 | ||
Common stock and related surplus, $2.50 par value; authorized 20,000,000 shares; issued: 2016 - 10,883,509 shares, 2015 - 10,853,566 shares; outstanding: 2016 - 10,736,970 shares, 2015 - 10,671,744 shares | 46,757 | 45,741 | ||
Unearned ESOP Shares | (1,583) | (1,964) | ||
Retained earnings | 113,448 | 100,423 | ||
Accumulated other comprehensive income | (3,262) | (456) | 2,072 | |
Total shareholders' equity | 155,360 | 143,744 | 131,644 | $ 111,072 |
Total liabilities and shareholders' equity | 1,758,647 | 1,492,429 | ||
Parent Company [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash | 1,112 | 1,984 | $ 13,115 | $ 5,278 |
Investment in subsidiaries, eliminated in consolidation | 175,513 | 164,787 | ||
Securities available for sale | 77 | 166 | ||
Premises and equipment | 101 | 81 | ||
Other assets | 2,158 | 1,677 | ||
Total assets | 178,961 | 168,695 | ||
Long-term borrowings | 903 | 2,708 | ||
Subordinated debentures owed to unconsolidated subsidiary trusts | 19,589 | 19,589 | ||
Other liabilities | 3,109 | 2,654 | ||
Total liabilities | 23,601 | 24,951 | ||
Preferred stock, $1.00 par value, authorized 250,000 shares | 0 | 0 | ||
Common stock and related surplus, $2.50 par value; authorized 20,000,000 shares; issued: 2016 - 10,883,509 shares, 2015 - 10,853,566 shares; outstanding: 2016 - 10,736,970 shares, 2015 - 10,671,744 shares | 46,757 | 45,741 | ||
Unearned ESOP Shares | (1,583) | (1,964) | ||
Retained earnings | 113,448 | 100,423 | ||
Accumulated other comprehensive income | (3,262) | (456) | ||
Total shareholders' equity | 155,360 | 143,744 | ||
Total liabilities and shareholders' equity | $ 178,961 | $ 168,695 |
Condensed Financial Statemen127
Condensed Financial Statements Of Parent Company (Statements of Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Realized securities gains (losses) | $ 1,127 | $ 1,444 | $ 213 |
Interest expense | 15,084 | 12,867 | 15,241 |
Income before income taxes | 25,305 | 22,995 | 16,034 |
Income tax expense | 8,008 | 6,893 | 4,678 |
Net Income | 17,297 | 16,102 | 11,356 |
Dividends on preferred shares | 0 | 0 | 771 |
Net income (loss) applicable to common shares | 17,297 | 16,102 | 10,585 |
Parent Company [Member] | |||
Dividends from subsidiaries | 5,070 | 10,000 | 6,500 |
Other dividends and interest income | 21 | 19 | 22 |
Realized securities gains (losses) | (14) | 0 | 41 |
Management and service fees from subsidiaries | 1,554 | 1,133 | 1,189 |
Total income | 6,631 | 11,152 | 7,752 |
Interest expense | 663 | 747 | 1,845 |
Operating expenses | 2,820 | 2,390 | 1,746 |
Total expenses | 3,483 | 3,137 | 3,591 |
Income before income taxes | 3,148 | 8,015 | 4,161 |
Income tax expense | (715) | (692) | (739) |
Income before equity in undistributed income of subsidiaries | 3,863 | 8,707 | 4,900 |
Equity in undistributed income of subsidiaries | 13,434 | 7,395 | 6,456 |
Net Income | 17,297 | 16,102 | 11,356 |
Dividends on preferred shares | 0 | 0 | 771 |
Net income (loss) applicable to common shares | $ 17,297 | $ 16,102 | $ 10,585 |
Condensed Financial Statemen128
Condensed Financial Statements Of Parent Company (Statements Of Cash Flows) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 17,297 | $ 16,102 | $ 11,356 |
Adjustments to reconcile net earnings to net cash | |||
Deferred tax expense (benefit) | (357) | 190 | 1,004 |
Depreciation | 1,224 | 1,076 | 1,074 |
Realized securities (gains) losses | (1,127) | (1,444) | (213) |
Stock compensation expense | 200 | 151 | 1 |
Decrease in cash surrender value of bank owned life insurance | (1,059) | (1,032) | (1,088) |
(Increase) decrease in other assets | (894) | (1,077) | (55) |
Increase in other liabilities | 2,827 | 657 | 1,521 |
Net cash provided by operating activities | 23,210 | 23,648 | 25,602 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Proceeds from sales of securities available for sale | 72,453 | 69,632 | 80,914 |
Principal payments received on securities available for sale | 35,881 | 38,502 | 34,390 |
Purchase of available for sale securities | (99,497) | (113,677) | (111,438) |
Purchases of premises and equipment | (1,857) | (2,588) | (511) |
Net cash provided by (used in) investing activities | (128,551) | (58,989) | (64,333) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividends paid on preferred stock | 0 | (191) | (774) |
Payments of Ordinary Dividends, Common Stock | (4,272) | (3,398) | 0 |
Exercise of stock options | 447 | 51 | 71 |
Repayment of long-term borrowings | (28,911) | (1,909) | (86,027) |
Repayments of Subordinated Debt | 0 | (16,800) | 0 |
Payments for Repurchase of Common Stock | 0 | (1,080) | 0 |
Origination of Loans to Employee Stock Ownership Plans | 0 | (2,250) | 0 |
Net proceeds from issuance of common stock | 101 | 4,772 | 7,822 |
Net cash provided by (used in) financing activities | 142,470 | 32,318 | 39,459 |
Supplemental Disclosures of Cash Flow Information | |||
Interest | 15,175 | 12,854 | 15,862 |
Parent Company [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | 17,297 | 16,102 | 11,356 |
Adjustments to reconcile net earnings to net cash | |||
Equity in undistributed net income of subsidiaries | (13,434) | (7,395) | (6,456) |
Deferred tax expense (benefit) | (214) | (42) | 46 |
Depreciation | 36 | 30 | 23 |
Realized securities (gains) losses | 14 | 0 | (41) |
Stock compensation expense | 96 | 72 | 1 |
Decrease in cash surrender value of bank owned life insurance | 5 | 4 | 1 |
(Increase) decrease in other assets | (277) | 5 | 19 |
Increase in other liabilities | 1,104 | 943 | 57 |
Net cash provided by operating activities | 4,627 | 9,719 | 5,006 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Proceeds from sales of securities available for sale | 86 | 0 | 112 |
Principal payments received on securities available for sale | 0 | 0 | 8 |
Purchase of available for sale securities | 0 | (70) | 0 |
Purchases of premises and equipment | (56) | (46) | (6) |
Net cash provided by (used in) investing activities | 30 | (116) | 114 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividends paid on preferred stock | 0 | (191) | (774) |
Payments of Ordinary Dividends, Common Stock | (4,272) | (3,398) | 0 |
Exercise of stock options | 447 | 51 | 71 |
Repayment of long-term borrowings | (1,805) | (1,838) | (4,402) |
Repayments of Subordinated Debt | 0 | (16,800) | 0 |
Payments for Repurchase of Common Stock | 0 | (1,080) | 0 |
Origination of Loans to Employee Stock Ownership Plans | 0 | (2,250) | 0 |
Net proceeds from issuance of common stock | 101 | 4,772 | 7,822 |
Net cash provided by (used in) financing activities | (5,529) | (20,734) | 2,717 |
Increase (decrease) in cash | (872) | (11,131) | 7,837 |
Cash, Beginning Balance | 1,984 | 13,115 | 5,278 |
Cash, Ending Balance | 1,112 | 1,984 | 13,115 |
Supplemental Disclosures of Cash Flow Information | |||
Interest | $ 654 | $ 761 | $ 1,909 |
Condensed Financial Statemen129
Condensed Financial Statements Of Parent Company Condensed Financial Statements of Parent Company (Narrative) (Details) - $ / shares | Mar. 12, 2015 | Dec. 31, 2011 | Sep. 30, 2009 | Dec. 31, 2016 | Dec. 31, 2015 |
Preferred stock, shares authorized | 250,000 | 250,000 | |||
Preferred stock, par value | $ 1 | $ 1 | |||
Common stock, par value | $ 2.50 | $ 2.50 | |||
Common stock, shares authorized | 20,000,000 | 20,000,000 | |||
Common stock, shares issued | 10,883,509 | 10,853,566 | |||
Common stock, shares outstanding | 10,736,970 | 10,671,744 | |||
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 146,539 | 181,822 | |||
Series 2009 Preferred Stock [Member] | |||||
Preferred stock, par value | $ 1 | $ 1 | |||
Preferred stock, shares issued | 3,710 | ||||
Preferred stock, dividend rate | 8.00% | 8.00% | |||
Series 2011 Preferred Stock [Member] | |||||
Preferred stock, par value | $ 1 | $ 1 | |||
Preferred stock, shares issued | 12,000 | ||||
Preferred stock, dividend rate | 8.00% | 8.00% |