Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 08, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | REPUBLIC FIRST BANCORP INC | |
Entity Central Index Key | 0000834285 | |
Trading Symbol | frbk | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 58,842,778 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 57,562 | $ 35,685 |
Interest bearing deposits with banks | 143,915 | 36,788 |
Cash and cash equivalents | 201,477 | 72,473 |
Investment securities available for sale, at fair value | 379,962 | 321,014 |
Investment securities held to maturity, at amortized cost (fair value of $699,054 and $747,323, respectively) | 687,425 | 761,563 |
Restricted stock, at cost | 2,371 | 5,754 |
Mortgage loans held for sale, at fair value | 18,734 | 20,887 |
Other loans held for sale | 2,476 | 5,404 |
Loans receivable (net of allowance for loan losses of $8,467 and $8,615, respectively) | 1,560,913 | 1,427,983 |
Premises and equipment, net | 111,573 | 87,661 |
Other real estate owned, net | 6,653 | 6,223 |
Accrued interest receivable | 9,277 | 9,025 |
Operating lease right-of-use asset | 65,860 | |
Goodwill | 5,011 | 5,011 |
Other assets | 34,189 | 30,299 |
Total Assets | 3,085,921 | 2,753,297 |
Deposits | ||
Demand - non-interest bearing | 595,869 | 519,056 |
Demand - interest bearing | 1,227,969 | 1,042,561 |
Money market and savings | 698,991 | 676,993 |
Time deposits | 217,203 | 154,257 |
Total Deposits | 2,740,032 | 2,392,867 |
Short-term borrowings | 91,422 | |
Accrued interest payable | 1,655 | 558 |
Other liabilities | 12,482 | 12,002 |
Operating lease liability | 69,646 | |
Subordinated debt | 11,263 | 11,259 |
Total Liabilities | 2,835,078 | 2,508,108 |
Shareholders’ Equity | ||
Preferred stock, par value $0.01 per share: 10,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock, par value $0.01 per share: 100,000,000 shares authorized; shares issued 59,371,623 as of September 30, 2019 and 59,318,073 as of December 31, 2018; shares outstanding 58,842,778 as of September 30, 2019 and 58,789,228 as of December 31, 2018 | 594 | 593 |
Additional paid in capital | 271,412 | 269,147 |
Accumulated deficit | (9,731) | (8,716) |
Treasury stock at cost (503,408 shares as of September 30, 2019 and December 31, 2018) | (3,725) | (3,725) |
Stock held by deferred compensation plan (25,437 shares as of September 30, 2019 and December 31, 2018) | (183) | (183) |
Accumulated other comprehensive loss | (7,524) | (11,927) |
Total Shareholders’ Equity | 250,843 | 245,189 |
Total Liabilities and Shareholders’ Equity | $ 3,085,921 | $ 2,753,297 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Investment securities held to maturity, at fair value | $ 699,054 | $ 747,323 |
Loans receivable, allowance for loan losses | $ 8,467 | $ 8,615 |
Preferred stock par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 59,371,623 | 59,318,073 |
Common stock, shares outstanding (in shares) | 58,842,778 | 58,789,228 |
Treasury stock (in shares) | 503,408 | 503,408 |
Stock held by deferred compensation plan (in shares) | 25,437 | 25,437 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Interest income: | ||||
Interest and fees on taxable loans | $ 18,298 | $ 16,353 | $ 53,827 | $ 45,342 |
Interest and fees on tax-exempt loans | 409 | 411 | 1,249 | 1,148 |
Interest and dividends on taxable investment securities | 6,652 | 6,511 | 21,134 | 19,536 |
Interest and dividends on tax-exempt investment securities | 72 | 130 | 131 | 367 |
Interest on federal funds sold and other interest-earning assets | 777 | 153 | 1,631 | 388 |
Total interest income | 26,208 | 23,558 | 77,972 | 66,781 |
Interest expense: | ||||
Demand- interest bearing | 3,753 | 1,948 | 11,897 | 4,754 |
Money market and savings | 1,813 | 1,308 | 4,893 | 3,454 |
Time deposits | 1,123 | 386 | 2,608 | 1,121 |
Other borrowings | 137 | 770 | 681 | 1,528 |
Total interest expense | 6,826 | 4,412 | 20,079 | 10,857 |
Net interest income | 19,382 | 19,146 | 57,893 | 55,924 |
Provision for loan losses | 450 | 500 | 750 | 1,700 |
Net interest income after provision for loan losses | 18,932 | 18,646 | 57,143 | 54,224 |
Non-interest income: | ||||
Non-interest income | 2,036 | 1,415 | 5,625 | 3,994 |
Gain on sales of SBA loans | 944 | 816 | 2,593 | 2,654 |
Gain (loss) on sale of investment securities | 520 | 1,103 | (1) | |
Other non-interest income | 46 | 29 | 175 | 107 |
Total non-interest income | 6,554 | 5,131 | 18,525 | 15,434 |
Non-interest expenses: | ||||
Salaries and employee benefits | 14,314 | 11,203 | 40,378 | 32,731 |
Occupancy | 2,994 | 1,975 | 8,270 | 5,976 |
Depreciation and amortization | 1,740 | 1,285 | 4,700 | 4,107 |
Legal | 462 | 276 | 1,024 | 916 |
Other real estate owned | 799 | 378 | 1,653 | 881 |
Appraisal and other loan expenses | 476 | 583 | 1,327 | 1,316 |
Advertising | 698 | 290 | 1,467 | 916 |
Data processing | 1,434 | 1,009 | 3,780 | 2,773 |
Insurance | 301 | 181 | 752 | 690 |
Professional fees | 661 | 498 | 1,864 | 1,476 |
Automated teller machine expenses | 526 | 498 | 1,689 | 1,327 |
Regulatory assessments and costs | 62 | 396 | 904 | 1,258 |
Taxes, other | 288 | 243 | 782 | 733 |
Other operating expenses | 3,069 | 2,018 | 8,412 | 6,564 |
Total non-interest expense | 27,824 | 20,833 | 77,002 | 61,664 |
Income (loss) before provision (benefit) for income taxes | (2,338) | 2,944 | (1,334) | 7,994 |
Provision (benefit) for income taxes | (516) | 622 | (319) | 1,524 |
Net income (loss) | $ (1,822) | $ 2,322 | $ (1,015) | $ 6,470 |
Net income (loss) per share: | ||||
Basic (in dollars per share) | $ (0.03) | $ 0.04 | $ (0.02) | $ 0.11 |
Diluted (in dollars per share) | $ (0.03) | $ 0.04 | $ (0.02) | $ 0.11 |
Loan and Servicing Fees [Member] | ||||
Non-interest income: | ||||
Non-interest income | $ 257 | $ 320 | $ 1,156 | $ 839 |
Mortgage Banking [Member] | ||||
Non-interest income: | ||||
Non-interest income | 2,797 | 2,580 | 8,048 | 7,948 |
Deposit Account [Member] | ||||
Non-interest income: | ||||
Non-interest income | $ 1,990 | $ 1,386 | $ 5,450 | $ 3,887 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net income (loss) | $ (1,822) | $ 2,322 | $ (1,015) | $ 6,470 |
Other comprehensive income (loss), net of tax | ||||
Unrealized gains (losses) on securities (pre-tax $720, ($3,202), $5,495, and $(12,210), respectively) | 583 | (2,500) | 4,456 | (9,536) |
Reclassification adjustment for securities (gains) losses (pre-tax ($520), $-, ($1,103), and $1, respectively) | (217) | (894) | 1 | |
Net unrealized gains (losses) on securities | 366 | (2,500) | 3,562 | (9,535) |
Amortization of net unrealized holding losses to income during the period (pre-tax $393, $37, $1,037, and $106 respectively) | 318 | 29 | 841 | 83 |
Other comprehensive income, net of tax | 684 | (2,471) | 4,403 | (9,452) |
Total comprehensive income (loss) | $ (1,138) | $ (149) | $ 3,388 | $ (2,982) |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Unrealized gains (losses) on securities, pre-tax | $ 720 | $ (3,202) | $ 5,495 | $ (12,210) |
Reclassification adjustment for securities losses (gains), pre-tax | (520) | (1,103) | 1 | |
Amortization of net unrealized holding losses to income during the period, pre-tax | $ 393 | $ 37 | $ 1,037 | $ 106 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash flows from operating activities | ||
Net income (loss) | $ (1,015,000) | $ 6,470,000 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Provision for loan losses | 750,000 | 1,700,000 |
Write down of other real estate owned | 240,000 | 18,000 |
Depreciation and amortization | 4,700,000 | 4,107,000 |
Stock based compensation | 2,005,000 | 1,584,000 |
Net (gain) loss on sale of investment securities | (1,103,000) | 1,000 |
Amortization of premiums on investment securities | 2,257,000 | 2,271,000 |
Accretion of discounts on retained SBA loans | (1,083,000) | (1,073,000) |
Fair value adjustments on SBA servicing assets | 1,106,000 | 1,252,000 |
Proceeds from sales of SBA loans originated for sale | 37,916,000 | 36,811,000 |
SBA loans originated for sale | (32,395,000) | (34,969,000) |
Gains on sales of SBA loans originated for sale | (2,593,000) | (2,654,000) |
Proceeds from sales of mortgage loans originated for sale | 246,816,000 | 355,181,000 |
Mortgage loans originated for sale | (239,045,000) | (335,734,000) |
Fair value adjustment for mortgage loans originated for sale | 285,000 | 474,000 |
Gains on sales of mortgage loans originated for sale | (6,215,000) | (6,400,000) |
Amortization of debt issuance costs | 4,000 | 5,000 |
Non-cash expense related to leases | 924,000 | |
Increase in accrued interest receivable and other assets | (4,524,000) | (1,278,000) |
Increase (decrease) in accrued interest payable and other liabilities | 2,996,000 | (1,049,000) |
Net cash provided by operating activities | 12,026,000 | 26,717,000 |
Cash flows from investing activities | ||
Purchase of investment securities available for sale | (150,734,000) | (81,744,000) |
Purchase of investment securities held to maturity | (61,083,000) | |
Proceeds from the sale of securities available for sale | 54,742,000 | 5,713,000 |
Proceeds from the maturity or call of securities available for sale | 41,571,000 | 39,409,000 |
Proceeds from the maturity or call of securities held to maturity | 73,890,000 | 46,156,000 |
Redemption of restricted stock | 3,383,000 | 2,000 |
Net increase in loans | (133,667,000) | (217,967,000) |
Net proceeds from sale of other real estate owned | 401,000 | 495,000 |
Premises and equipment expenditures | (28,612,000) | (11,072,000) |
Net cash used in investing activities | (139,026,000) | (280,091,000) |
Cash flows from financing activities | ||
Net proceeds from exercise of stock options | 261,143 | 668,194 |
Net increase in demand, money market and savings deposits | 284,219,000 | 324,658,000 |
Net increase in time deposits | 62,946,000 | 12,405,000 |
Repayment of short-term borrowings | (91,422,000) | |
Net cash provided by financing activities | 256,004,000 | 337,731,000 |
Net increase in cash and cash equivalents | 129,004,000 | 84,357,000 |
Cash and cash equivalents, beginning of year | 72,473,000 | 61,942,000 |
Cash and cash equivalents, end of period | 201,477,000 | 146,299,000 |
Supplemental disclosures | ||
Interest paid | 18,982,000 | 10,749,000 |
Non-cash transfers from loans to other real estate owned | 1,071,000 | 315,000 |
Conversion of subordinated debt to common stock | $ 10,094,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Deferred Compensation, Share-based Payments [Member] | AOCI Attributable to Parent [Member] | Total | ||
Balance at Dec. 31, 2017 | $ 575 | $ 256,285 | $ (18,983) | $ (3,725) | $ (183) | $ (7,509) | [1] | $ 226,460 | |
Net income (loss) | 6,470 | 6,470 | |||||||
Other comprehensive income, net of tax | (9,452) | [1] | (9,452) | ||||||
Stock based compensation | 1,584 | 1,584 | |||||||
Options exercised | 2 | 666 | 668 | ||||||
Reclassification due to the adoption of ASU 2018-02 | 1,640 | (1,640) | [1] | ||||||
Conversion of subordinated debt to common stock | 16 | 10,078 | 10,094 | ||||||
Balance at Sep. 30, 2018 | 593 | 268,613 | (10,873) | (3,725) | (183) | (18,601) | [1] | 235,824 | |
Balance at Dec. 31, 2017 | 575 | 256,285 | (18,983) | (3,725) | (183) | (7,509) | [1] | 226,460 | |
Other comprehensive income, net of tax | [1] | (2,778) | |||||||
Reclassification due to the adoption of ASU 2018-02 | [1] | (1,640) | |||||||
Balance at Dec. 31, 2018 | 593 | 269,147 | (8,716) | (3,725) | (183) | (11,927) | [1] | 245,189 | |
Balance at Jun. 30, 2018 | 593 | 267,974 | (13,195) | (3,725) | (183) | (16,130) | 235,334 | ||
Net income (loss) | 2,322 | 2,322 | |||||||
Other comprehensive income, net of tax | (2,471) | (2,471) | |||||||
Stock based compensation | 532 | 532 | |||||||
Options exercised | 107 | 107 | |||||||
Balance at Sep. 30, 2018 | 593 | 268,613 | (10,873) | (3,725) | (183) | (18,601) | [1] | 235,824 | |
Balance at Dec. 31, 2018 | 593 | 269,147 | (8,716) | (3,725) | (183) | (11,927) | [1] | 245,189 | |
Net income (loss) | (1,015) | (1,015) | |||||||
Other comprehensive income, net of tax | 4,403 | [1] | 4,403 | ||||||
Stock based compensation | 2,005 | 2,005 | |||||||
Options exercised | 1 | 260 | 261 | ||||||
Balance at Sep. 30, 2019 | 594 | 271,412 | (9,731) | (3,725) | (183) | (7,524) | [1] | 250,843 | |
Balance at Jun. 30, 2019 | 594 | 270,789 | (7,909) | (3,725) | (183) | (8,208) | 251,358 | ||
Net income (loss) | (1,822) | (1,822) | |||||||
Other comprehensive income, net of tax | 684 | 684 | |||||||
Stock based compensation | 623 | 623 | |||||||
Balance at Sep. 30, 2019 | $ 594 | $ 271,412 | $ (9,731) | $ (3,725) | $ (183) | $ (7,524) | [1] | $ 250,843 | |
[1] | All amounts are net of tax. Amounts in parentheses indicate reductions to other comprehensive income. |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - shares | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Common Stock [Member] | |||
Options exercised (in shares) | 28,750 | 53,550 | 174,225 |
Conversion of subordinated debt, shares (in shares) | 1,624,614 | ||
Options exercised (in shares) | 53,550 | 174,225 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1: Basis of Presentation Republic First Bancorp, Inc. (the “Company”) is a one one July 28, 2016, January 1, 2018, two two The Company and Republic encounter vigorous competition for market share in the geographic areas they serve from bank holding companies, national, regional and other community banks, thrift institutions, credit unions and other non-bank financial organizations, such as mutual fund companies, insurance companies and brokerage companies. The Company and Republic are subject to federal and state regulations governing virtually all aspects of their activities, including but not The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Republic. The Company follows accounting standards set by the Financial Accounting Standards Board (“FASB”). The FASB sets accounting principles generally accepted in the United States of America (“US GAAP”) that are followed to ensure consistent reporting of financial condition, results of operations, and cash flows. All material inter-company transactions have been eliminated. Events occurring subsequent to the date of the balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and with the instructions to United States Securities and Exchange Commission (“SEC”) Form 10 10 X. not nine September 30, 2019 not may December 31, 2019. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2: Risks and Uncertainties The earnings of the Company depend primarily on the earnings of Republic. The earnings of Republic are heavily dependent upon the level of net interest income, which is the difference between interest earned on its interest-earning assets, such as loans and investments, and the interest paid on its interest-bearing liabilities, such as deposits and borrowings. Accordingly, the Company’s results of operations are subject to risks and uncertainties surrounding Republic’s exposure to changes in the interest rate environment. Prepayments on residential real estate mortgage and other fixed rate loans and mortgage-backed securities vary significantly and may Mortgage Banking Activities and Mortgage Loans Held for Sale Mortgage loans held for sale are originated and held until sold to permanent investors. Management has adopted the fair value option in accordance with FASB Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures Mortgage loans held for sale originated on or subsequent to the election of the fair value option, are recorded on the balance sheet at fair value. The fair value is determined on a recurring basis by utilizing quoted prices from dealers in such securities. Changes in fair value are reflected in mortgage banking income in the statements of income. Direct loan origination costs are recognized when incurred and are included in non-interest expense in the statements of income. Interest Rate Lock Commitments (“IRLCs”) Mortgage loan commitments known as interest rate locks that relate to the origination of a mortgage that will be held for sale upon funding are considered derivative instruments under the derivatives and hedging accounting guidance FASB ASC 815, Derivatives and Hedging 30 90 not not 10 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates are made by management in determining the allowance for loan losses, carrying values of other real estate owned, assessment of other than temporary impairment (“OTTI”) of investment securities, fair value of financial instruments, and the realization of deferred income tax assets. Consideration is given to a variety of factors in establishing these estimates. In estimating the allowance for loan losses, management considers current economic conditions, past loss experience, diversification of the loan portfolio, delinquency statistics, results of internal loan reviews and regulatory examinations, borrowers’ perceived financial and managerial strengths, the adequacy of underlying collateral, if collateral dependent, or present value of future cash flows, and other relevant and qualitative risk factors. Subsequent to foreclosure, an estimate for the carrying value of other real estate owned is normally determined through valuations that are periodically performed by management and the assets are carried at the lower of carrying amount or fair value, less the cost to sell. Because the allowance for loan losses and carrying value of other real estate owned are dependent, to a great extent, on the general economy and other conditions that may In estimating OTTI of investment securities, securities are evaluated on at least a quarterly basis and more frequently when market conditions warrant such an evaluation, to determine whether a decline in their value is other-than-temporary. To determine whether a loss in value is other-than-temporary, management utilizes criteria such as the reasons underlying the decline, the magnitude and duration of the decline, the intent to hold the security and the likelihood of the Company not not not In evaluating the Company’s ability to recover deferred tax assets, management considers all available positive and negative evidence, including the past operating results and forecasts of future taxable income. In determining future taxable income, management makes assumptions for the amount of taxable income, the reversal of temporary differences and the implementation of feasible and prudent tax planning strategies. These assumptions require management to make judgments about the future taxable income and are consistent with the plans and estimates used to manage the business. A material reduction in estimated future taxable income may The Company has a Stock Option and Restricted Stock Plan (“the 2005 2005 November 14, 1995, 2005 2005 1.5 2005 1.5 September 30, 2019, 2005 2005 2005 one four 10 2005 November 14, 2015 On April 29, 2014 2014 “2014 may 2014 2.6 no 10% may September 30, 2019, 2014 6.3 nine September 30, 2019, 1.3 2014 $2,900,495. The Company utilizes the Black-Scholes option pricing model to calculate the estimated fair value of each stock option granted on the date of the grant. A summary of the assumptions used in the Black-Scholes option pricing model for 2019 2018 201 9 201 8 Dividend yield (1) 0.0% 0.0% Expected volatility (2) 28.81% 28.22% Risk-free interest rate (3 ) 1.42% to 2.78% 2.35% to 2.96% Expected life (4) 6.25 6.25 Assumed forfeiture rate (5 ) 4.0% 4.0% ( 1 0.0% ( 2 ( 3 five seven ( 4 ) 1 4 ten ( 5 ) three During the nine September 30, 2019 2018, 842,898 753,864 September 30, 2019, 5,007,725 $780,000, 2,645,960 $753,000. September 30, 2018, 3,841,275 $6.7 1,905,112 $5.4 nine September 30, 2019, 53,550 $261,143 142,875 $381,811. nine September 30, 2018, 174,225 $668,194 70,125 $215,201. Information regarding stock based compensation for the nine September 30, 2019 2018 201 9 201 8 Stock based compensation expense recognized $ 2,005,000 $ 1,584,000 Number of unvested stock options 2,361,765 1,936,163 Fair value of unvested stock options $ 6,095,468 $ 5,499,104 Amount remaining to be recognized as expense $ 4,183,148 $ 3,886,278 The remaining unrecognized expense amount of $4,183,148 August 2023. Earnings per Share Earnings per share (“EPS”) consists of two nine September 30, 2019 September 30, 2018. The calculation of EPS for the three nine September 30, 2019 2018 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net income (loss) -basic and diluted $ (1,822 ) $ 2,322 $ (1,015 ) $ 6,470 Weighted average shares outstanding 58,843 58,774 58,830 58,213 Net income (loss) per share – basic $ (0.03 ) $ 0.04 $ (0.02 ) $ 0.11 Weighted average shares outstanding (including dilutive CSEs) 58,843 59,774 58,830 59,338 Net income (loss) per share – diluted $ (0.03 ) $ 0.04 $ (0.02 ) $ 0.11 The following is a summary of securities that could potentially dilute basic earnings per common share in future periods. These securities were not (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Anti-dilutive securities Share based compensation awards - 2,845 - 2,720 Recent Accounting Pronouncements ASU 2014 09 In May 2014, 2014 09, “Revenue from Contracts with Customers (Topic 660 606 340 40 2014 09 605, August 2015, 2015 14, Revenue from Contracts with The Company (Topic 606 December 15, 2017, 2014 09 January 1, 2018. no not not 11: 606. ASU 2016 01 In January 2016, No. 2016 01, Financial Instruments - Overall. 1 2 3 4 5 6 7 December 15, 2017, January 1, 2018 No. 2016 01 January 1, 2018 not 4 December 31, 2018 7 Fair Value of Financial Instruments). ASU 2016 02 In February 2016, No. 2016 02, Leases. 12 December 15, 2018, In July 2018, 2018 11 842 In December 2018, 2018 20 842 not third The Company adopted this ASU on January 1, 2019. $34.2 $35.1 January 1, 2019. no not 1 2 3 4 ASU 2016 13 In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 may December 15, 2019. ASU 2016 15 In August 2016, 2016 15, Statement of Cash Flows (Topic 230 January 1, 2018, 2016 15 not ASU 2017 01 In January 2017, 2017 01, Business Combinations (Topic 805 805. 805 No. 141 805 December 15, 2017, December 15, 2018, December 15, 2019. no not not ASU 2017 04 In January 2017, 2017 04, Simplifying the Test For Goodwill Impairment. 2 December 15, 2019. July 1, 2018 2017 04 not ASU 2017 08 In March 2017, 2017 08, Premium Amortization on Purchased Callable Debt Securities, December 15, 2018. December 15, 2019, December 15, 2020. 2017 08 not ASU 2017 09 In May 2017, 2017 09, Compensation – Stock Compensation: Scope of Modification Accounting, 718. December 15, 2017. 1 not 2 not January 1, 2018 2017 09 not ASU 2018 02 In February 2018, 2018 02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2017 December 15, 2018. not January 1, 2018, $1.6 ASU 2018 03 In February 2018, 2018 03, Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825 10 2016 01 January 1, 2018. not ASU 2018 07 In June 2018, 2018 07, Compensation – Stock Compensation (Topic 718 2018 07, December 15, 2018, January 1, 2019. not |
Note 3 - Legal Proceedings
Note 3 - Legal Proceedings | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | Note 3: Legal Proceedings The Company and Republic are from time to time parties (plaintiff or defendant) to lawsuits in the normal course of business. While any litigation involves an element of uncertainty, management is of the opinion that the liability of the Company and Republic, if any, resulting from such actions will not |
Note 4 - Segment Reporting
Note 4 - Segment Reporting | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 4: The Company has one second not |
Note 5 - Investment Securities
Note 5 - Investment Securities | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 5: A summary of the amortized cost and market value of securities available for sale and securities held to maturity at September 30, 2019 December 31, 2018 At September 30, 2019 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Government agencies $ 29,404 $ 16 $ - $ 29,420 Collateralized mortgage obligations 254,439 2,641 (691 ) 256,389 Agency mortgage-backed securities 23,889 93 (81 ) 23,901 Municipal securities 4,065 17 - 4,082 Corporate bonds 69,499 9 (3,338 ) 66,170 Total securities available for sale $ 381,296 $ 2,776 $ (4,110 ) $ 379,962 U.S. Government agencies $ 98,481 $ 1,192 $ (97 ) $ 99,576 Collateralized mortgage obligations 448,807 9,962 (620 ) 458,149 Agency mortgage-backed securities 140,137 1,768 (576 ) 141,329 Total securities held to maturity $ 687,425 $ 12,922 $ (1,293 ) $ 699,054 At December 31, 2018 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Collateralized mortgage obligations $ 197,812 $ 567 $ (2,120 ) $ 196,259 Agency mortgage-backed securities 39,105 5 (611 ) 38,499 Municipal securities 20,807 64 (232 ) 20,639 Corporate bonds 62,583 87 (3,396 ) 59,274 Asset-backed securities 6,433 - (90 ) 6,343 Total securities available for sale $ 326,740 $ 723 $ (6,449 ) $ 321,014 U.S. Government agencies $ 107,390 $ - $ (3,772 ) $ 103,618 Collateralized mortgage obligations 500,690 570 (5,793 ) 495,467 Agency mortgage-backed securities 153,483 - (5,245 ) 148,238 Total securities held to maturity $ 761,563 $ 570 $ (14,810 ) $ 747,323 The following table presents investment securities by stated maturity at September 30, 2019. no Available for Sale Held to Maturity (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in 1 year or less $ 3,439 $ 3,448 $ - $ - After 1 year to 5 years 20,839 20,855 11,487 11,617 After 5 years to 10 years 75,690 72,478 86,994 87,959 After 10 years 3,000 2,891 - - Collateralized mortgage obligations 254,439 256,389 448,807 458,149 Agency mortgage-backed securities 23,889 23,901 140,137 141,329 Total $ 381,296 $ 379,962 $ 687,425 $ 699,054 The Company’s investment securities portfolio consists primarily of debt securities issued by U.S. government agencies, U.S. government-sponsored agencies, state governments, local municipalities and certain corporate entities. There were no September 30, 2019 December 31, 2018. no The fair value of investment securities is impacted by interest rates, credit spreads, market volatility and liquidity conditions. Net unrealized gains and losses in the available for sale portfolio are included in shareholders’ equity as a component of accumulated other comprehensive income or loss, net of tax. Securities classified as held to maturity are carried at amortized cost. An unrealized loss exists when the current fair value of an individual security is less than the amortized cost basis. The Company regularly evaluates investment securities that are in an unrealized loss position in order to determine if the decline in fair value is other than temporary. Factors considered in the evaluation include the current economic climate, the length of time and the extent to which the fair value has been below cost, the current interest rate environment and the rating of each security. An OTTI loss must be recognized for a debt security in an unrealized loss position if the Company intends to sell the security or it is more likely than not There were no three nine September 30, 2019 September 30, 2018. The following table presents a roll-forward of the balance of credit-related impairment losses on securities held at September 30, 2019 2018 (dollars in thousands) 2019 2018 Beginning Balance, January 1 st $ - $ 274 Additional credit-related impairment loss on securities for which an other-than-temporary impairment was previously recognized - - Reductions for securities sold during the period - - Ending Balance, September 30 th $ - $ 274 The following tables show the fair value and gross unrealized losses associated with the investment portfolio, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position in the available for sale and held to maturity section: At September 30, 2019 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Collateralized mortgage obligations $ 55,237 $ 623 $ 9,339 $ 68 $ 64,576 $ 691 Agency mortgage-backed securities 2,716 8 8,742 73 11,458 81 Corporate bonds 11,390 110 51,772 3,228 63,162 3,338 Total Available for Sale $ 69,343 $ 741 $ 69,853 $ 3,369 $ 139,196 $ 4,110 At September 30, 2019 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ 13,938 $ 70 $ 3,750 $ 27 $ 17,688 $ 97 Collateralized mortgage obligations 2,575 11 68,023 609 70,598 620 Agency mortgage-backed securities - - 69,551 576 69,551 576 Total Held to Maturity $ 16,513 $ 81 $ 141,324 $ 1,212 $ 157,837 $ 1,293 At December 31, 2018 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Collateralized mortgage obligations $ 58,883 $ 270 $ 83,377 $ 1,850 $ 142,260 $ 2,120 Agency mortgage-backed securities 1,134 10 16,768 601 17,902 611 Municipal securities 1,549 7 12,154 225 13,703 232 Corporate bonds - - 53,189 3,396 53,189 3,396 Asset backed securities 6,343 90 - - 6,343 90 Total Available for Sale $ 67,909 $ 377 $ 165,488 $ 6,072 $ 233,397 $ 6,449 At December 31, 2018 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ 5,351 $ 26 $ 98,267 $ 3,746 $ 103,618 $ 3,772 Collateralized mortgage obligations 44,574 475 173,467 5,318 218,041 5,793 Agency mortgage-backed securities - - 119,243 5,245 119,243 5,245 Total Held to Maturity $ 49,925 $ 501 $ 390,977 $ 14,309 $ 440,902 $ 14,810 Unrealized losses on securities in the investment portfolio amounted to $5.4 $297.0 September 30, 2019 $21.3 $674.3 December 31, 2018. not not The Company held four twenty-nine seventeen September 30, 2019. no September 30, 2019. All municipal securities held in the investment portfolio are reviewed on least a quarterly basis for impairment. Each bond carries an investment grade rating by either Moody’s or Standard & Poor’s. In addition, the Company periodically conducts its own independent review on each issuer to ensure the financial stability of the municipal entity. The largest geographic concentration was in Pennsylvania and New Jersey and consisted of either general obligation or revenue bonds backed by the taxing power of the issuing municipality. At September 30, 2019, no At September 30, 2019, eight not The unrealized loss on the trust preferred security at September 30, 2018 2018, December 2018. Proceeds associated with the sale of securities available for sale during the three September 30, 2019 $11.5 $520,000 three September 30, 2019 $132,000. nine September 30, 2019 $54.7 $1.2 $67,000 $1.1 nine September 30, 2019 $280,000. There were no three September 30, 2018. nine September 30, 2018, $5.7 $1,000 nine September 30, 2018. |
Note 6 - Loans Receivable and A
Note 6 - Loans Receivable and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | Note 6: and Allowance for Loan Losses The following table sets forth the Company’s gross loans by major category as of September 30, 2019 December 31, 2018: (dollars in thousands) September 3 0 , 2019 December 31, 2018 Commercial real estate $ 570,327 $ 515,738 Construction and land development 109,582 121,042 Commercial and industrial 187,837 200,423 Owner occupied real estate 397,843 367,895 Consumer and other 98,034 91,152 Residential mortgage 205,498 140,364 Total loans receivable 1,569,121 1,436,614 Deferred costs (fees) 259 (16 ) Allowance for loan losses (8,467 ) (8,615 ) Net loans receivable $ 1,560,913 $ 1,427,983 The Company disaggregates its loan portfolio into groups of loans with similar risk characteristics for purposes of estimating the allowance for loan losses. The Company’s loan groups include commercial real estate, construction and land development, commercial and industrial, owner occupied real estate, consumer, and residential mortgages. The loan groups are also considered classes for purposes of monitoring and assessing credit quality based on certain risk characteristics. The following tables provide the activity in and ending balances of the allowance for loan losses by loan portfolio class at and for the three September 30, 2019 2018: (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Unallocated Total Three months ended September 30, 2019 Allowance for loan losses: Beginning balance: $ 2,673 $ 631 $ 875 $ 2,158 $ 562 $ 1,124 $ 33 $ 8,056 Charge-offs - - (72 ) - (29 ) - - (101 ) Recoveries - - 59 1 2 - - 62 Provisions (credits) 198 (10 ) (79 ) 31 36 205 69 450 Ending balance $ 2,871 $ 621 $ 783 $ 2,190 $ 571 $ 1,329 $ 102 $ 8,467 Three months ended September 30, 2018 Allowance for loan losses: Beginning balance: $ 2,039 $ 772 $ 1,449 $ 1,856 $ 509 $ 638 $ 303 $ 7,566 Charge-offs - - - - (1 ) - - (1 ) Recoveries 17 - 1 - 1 - - 19 Provisions (credits) 202 34 193 156 38 103 (226 ) 500 Ending balance $ 2,258 $ 806 $ 1,643 $ 2,012 $ 547 $ 741 $ 77 $ 8,084 The following tables provide the activity in and ending balances of the allowance for loan losses by loan portfolio class at and for the nine September 30, 2019 2018: (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Unallocated Total Nine months ended September 30, 2019 Allowance for loan losses: Beginning balance: $ 2,462 $ 777 $ 1,754 $ 2,033 $ 577 $ 894 $ 118 $ 8,615 Charge-offs - - (1,002 ) - (117 ) - - (1,119 ) Recoveries - - 213 1 7 - - 221 Provisions (credits) 409 (156 ) (182 ) 156 104 435 (16 ) 750 Ending balance $ 2,871 $ 621 $ 783 $ 2,190 $ 571 $ 1,329 $ 102 $ 8,467 Nine months ended September 30, 2018 Allowance for loan losses: Beginning balance: $ 3,774 $ 725 $ 1,317 $ 1,737 $ 573 $ 392 $ 81 $ 8,599 Charge-offs (1,535 ) - (151 ) (465 ) (213 ) - - (2,364 ) Recoveries 50 - 77 20 2 - - 149 Provisions (credits) (31 ) 81 400 720 185 349 (4 ) 1,700 Ending balance $ 2,258 $ 806 $ 1,643 $ 2,012 $ 547 $ 741 $ 77 $ 8,084 The following tables provide a summary of the allowance for loan losses and balance of loans receivable by loan class and by impairment method as of September 30, 2019 December 31, 2018: (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Unallocated Total September 30, 2019 Allowance for loan losses: Individually evaluated for impairment $ 262 $ - $ 35 $ 291 $ - $ - $ - $ 588 Collectively evaluated for impairment 2,609 621 748 1,899 571 1,329 102 7,879 Total allowance for loan losses $ 2,871 $ 621 $ 783 $ 2,190 $ 571 $ 1,329 $ 102 $ 8,467 Loans receivable: Loans evaluated individually $ 11,257 $ - $ 3,608 $ 3,532 $ 961 $ 768 $ - $ 20,126 Loans evaluated collectively 559,070 109,582 184,229 394,311 97,073 204,730 - 1,548,995 Total loans receivable $ 570,327 $ 109,582 $ 187,837 $ 397,843 $ 98,034 $ 205,498 $ - $ 1,569,121 (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Unallocated Total December 31, 2018 Allowance for loan losses: Individually evaluated for impairment $ 295 $ - $ 867 $ 217 $ 94 $ - $ - $ 1,473 Collectively evaluated for impairment 2,167 777 887 1,816 483 894 118 7,142 Total allowance for loan losses $ 2,462 $ 777 $ 1,754 $ 2,033 $ 577 $ 894 $ 118 $ 8,615 Loans receivable: Loans evaluated individually $ 10,947 $ - $ 3,662 $ 2,560 $ 861 $ - $ - $ 18,030 Loans evaluated collectively 504,791 121,042 196,761 365,335 90,291 140,364 - 1,418,584 Total loans receivable $ 515,738 $ 121,042 $ 200,423 $ 367,895 $ 91,152 $ 140,364 $ - $ 1,436,614 A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming loans, but also include internally classified accruing loans. The following table summarizes information with regard to impaired loans by loan portfolio class as of September 30, 2019 December 31, 2018: September 30, 2019 December 31, 2018 (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial real estate $ 7,243 $ 7,248 $ - $ 6,332 $ 6,337 $ - Construction and land development - - - - - - Commercial and industrial 3,229 6,589 - 1,655 5,418 - Owner occupied real estate 1,775 1,924 - 1,905 2,013 - Consumer and other 961 1,256 - 710 1,082 - Residential mortgage 768 768 - - - - Total $ 13,976 $ 17,785 $ - $ 10,602 $ 14,850 $ - With an allowance recorded: Commercial real estate $ 4,014 $ 4,536 $ 262 $ 4,615 $ 5,498 $ 295 Construction and land development - - - - - - Commercial and industrial 379 394 35 2,007 2,195 867 Owner occupied real estate 1,757 1,757 291 655 704 217 Consumer and other - - - 151 158 94 Residential mortgage - - - - - - Total $ 6,150 $ 6,687 $ 588 $ 7,428 $ 8,555 $ 1,473 Total: Commercial real estate $ 11,257 $ 11,784 $ 262 $ 10,947 $ 11,835 $ 295 Construction and land development - - - - - - Commercial and industrial 3,608 6,983 35 3,662 7,613 867 Owner occupied real estate 3,532 3,681 291 2,560 2,717 217 Consumer and other 961 1,256 - 861 1,240 94 Residential mortgage 768 768 - - - - Total $ 20,126 $ 24,472 $ 588 $ 18,030 $ 23,405 $ 1,473 The following table presents additional information regarding the Company’s impaired loans for the three September 30, 2019 September 30, 2018: Three Months Ended September 30, 2019 2018 (dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 7,004 $ 80 $ 9,748 $ 72 Construction and land development - - - - Commercial and industrial 2,821 19 2,566 12 Owner occupied real estate 1,801 12 2,255 15 Consumer and other 931 4 647 10 Residential mortgage 640 1 - - Total $ 13,197 $ 116 $ 15,216 $ 109 With an allowance recorded: Commercial real estate $ 4,114 $ - $ 3,976 $ - Construction and land development - - - - Commercial and industrial 572 - 1,948 1 Owner occupied real estate 1,492 12 905 6 Consumer and other 12 - 169 - Residential mortgage - - - - Total $ 6,190 $ 12 $ 6,998 $ 7 Total: Commercial real estate $ 11,118 $ 80 $ 13,724 $ 72 Construction and land development - - - - Commercial and industrial 3,393 19 4,514 13 Owner occupied real estate 3,293 24 3,160 21 Consumer and other 943 4 816 10 Residential mortgage 640 1 - - Total $ 19,387 $ 128 $ 22,214 $ 116 The following table presents additional information regarding the Company’s impaired loans for the nine September 30, 2019 September 30, 2018: Nine Months Ended September 30, 2019 2018 (dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 6,532 $ 220 $ 11,454 $ 216 Construction and land development - - - - Commercial and industrial 2,001 19 3,762 45 Owner occupied real estate 1,853 40 2,367 43 Consumer and other 871 12 645 12 Residential mortgage 384 2 - - Total $ 11,641 $ 293 $ 18,228 $ 316 With an allowance recorded: Commercial real estate $ 4,314 $ - $ 2,692 $ - Construction and land development - - - - Commercial and industrial 956 - 1,826 4 Owner occupied real estate 962 24 1,047 18 Consumer and other 38 - 201 1 Residential mortgage - - - - Total $ 6,270 $ 24 $ 5,766 $ 23 Total: Commercial real estate $ 10,846 $ 220 $ 14,146 $ 216 Construction and land development - - - - Commercial and industrial 2,957 19 5,588 49 Owner occupied real estate 2,815 64 3,414 61 Consumer and other 909 12 846 13 Residential mortgage 384 2 - - Total $ 17,911 $ 317 $ 23,994 $ 339 The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past due status as of September 30, 2019 December 31, 2018: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Receivable Loans Receivable > 90 Days and Accruing At September 3 0 , 2019 Commercial real estate $ 93 $ - $ 4,269 $ 4,362 $ 565,965 $ 570,327 $ - Construction and land development - - - - 109,582 109,582 - Commercial and industrial - - 3,608 3,608 184,229 187,837 - Owner occupied real estate - 28 2,317 2,345 395,498 397,843 - Consumer and other 83 9 1,090 1,182 96,852 98,034 129 Residential mortgage - - 768 768 204,730 205,498 - Total $ 176 $ 37 $ 12,052 $ 12,265 $ 1,556,856 $ 1,569,121 $ 129 (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Receivable Loans Receivable > 90 Days and Accruing At December 31, 2018 Commercial real estate $ 339 $ 921 $ 4,631 $ 5,891 $ 509,847 $ 515,738 $ - Construction and land development - - - - 121,042 121,042 - Commercial and industrial 280 - 3,661 3,941 196,482 200,423 - Owner occupied real estate - 653 1,188 1,841 366,054 367,895 - Consumer and other 214 - 861 1,075 90,077 91,152 - Residential mortgage 302 - - 302 140,062 140,364 - Total $ 1,135 $ 1,574 $ 10,341 $ 13,050 $ 1,423,564 $ 1,436,614 $ - The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company’s internal risk rating system as of September 30, 2019 December 31, 2018: (dollars in thousands) Pass Special Mention Substandard Doubtful Total At September 3 0 , 2019: Commercial real estate $ 565,187 $ 92 $ 5,048 $ - $ 570,327 Construction and land development 109,582 - - - 109,582 Commercial and industrial 184,229 - 3,328 280 187,837 Owner occupied real estate 392,245 2,066 3,532 - 397,843 Consumer and other 97,073 - 961 - 98,034 Residential mortgage 204,608 122 768 - 205,498 Total $ 1,552,924 $ 2,280 $ 13,637 $ 280 $ 1,569,121 (dollars in thousands) Pass Special Mention Substandard Doubtful Total At December 31, 2018: Commercial real estate $ 510,186 $ 921 $ 4,631 $ - $ 515,738 Construction and land development 121,042 - - - 121,042 Commercial and industrial 196,751 10 3,382 280 200,423 Owner occupied real estate 364,032 1,303 2,560 - 367,895 Consumer and other 90,291 - 861 - 91,152 Residential mortgage 140,240 124 - - 140,364 Total $ 1,422,542 $ 2,358 $ 11,434 $ 280 $ 1,436,614 The following table shows non-accrual loans by class as of September 30, 2019 December 31, 2018: (dollars in thousands) September 30, 2019 December 31, 2018 Commercial real estate $ 4,269 $ 4,631 Construction and land development - - Commercial and industrial 3,608 3,661 Owner occupied real estate 2,317 1,188 Consumer and other 961 861 Residential mortgage 768 - Total $ 11,923 $ 10,341 If these loans were performing under their original contractual rate, interest income on such loans would have increased approximately $145,000 $378,000 three nine September 30, 2019, $156,000 $519,000 three nine September 30, 2018, Troubled Debt Restructurings A modification to the contractual terms of a loan which results in a concession to a borrower that is experiencing financial difficulty is classified as a troubled debt restructuring (“TDR”). The concessions made in a TDR are those that would not may The following table summarizes information with regard to outstanding troubled debt restructurings at September 30, 2019 December 31, 2018: (dollars in thousands) Number of Loans Accrual Status Non- Accrual Status Total TDRs September 30, 2019 Commercial real estate 1 $ 6,209 $ - $ 6,209 Construction and land development - - - - Commercial and industrial - - - - Owner occupied real estate - - - - Consumer and other - - - - Residential mortgage - - - - Total 1 $ 6,209 $ - $ 6,209 December 31, 2018 Commercial real estate 1 $ 6,316 $ - $ 6,316 Construction and land development - - - - Commercial and industrial 3 - 1,224 1,224 Owner occupied real estate 1 - 242 242 Consumer and other - - - - Residential mortgage - - - - Total 5 $ 6,316 $ 1,466 $ 7,782 All TDRs are considered impaired and are therefore individually evaluated for impairment in the calculation of the allowance for loan losses. Some TDRs may not There were no three nine September 30, 2019 After a loan is determined to be a TDR, the Company continues to track its performance under the most recent restructured terms. There were no three nine September 30, 2019. three December 31, 2018. There was one September 30, 2019. no December 31, 2018. no September 30, 2019 December 31, 2018. |
Note 7 - Fair Value of Financia
Note 7 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 7 : Fair Value of Financial Instruments Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not not may The Company follows the guidance issued under ASC 820, Fair Value Measurement, ASC 820 1 3 three 820 Level 1 Level 2 not Level 3 no An asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2019 December 31, 2018 (dollars in thousands) Total (Level 1) Quoted Prices in Active Markets for Identical Assets (Level 2) Significant Other Observable Inputs (Level 3) Significant Unobservable Inputs September 30, 2019 Assets: U.S. Government agencies $ 29,420 $ - $ 29,420 $ - Collateralized mortgage obligations 256,389 - 256,389 - Agency mortgage-backed securities 23,901 - 23,901 - Municipal securities 4,082 - 4,082 - Corporate bonds 66,170 - 63,279 2,891 Securities Available for Sale $ 379,962 $ - $ 377,071 $ 2,891 Mortgage Loans Held for Sale $ 18,734 $ - $ 18,734 $ - SBA Servicing Assets 4,504 - - 4,504 Interest Rate Lock Commitments 506 - 506 - Best Efforts Forward Loan Sales Commitments 43 - 43 - Mandatory Forward Loan Sales Commitments 27 - 27 - Liabilities: Interest Rate Lock Commitments 2 - 2 - Best Efforts Forward Loan Sales Commitments 126 - 126 - Mandatory Forward Loan Sales Commitments 79 - 79 - December 31, 2018 Assets: Collateralized mortgage obligations $ 196,259 $ - $ 196,259 $ - Agency mortgage-backed securities 38,499 - 38,499 - Municipal securities 20,639 - 20,639 - Corporate bonds 59,274 - 56,205 3,069 Asset-backed securities 6,343 - 6,343 - Securities Available for Sale $ 321,014 $ - $ 317,945 $ 3,069 Mortgage Loans Held for Sale $ 20,887 $ - $ 20,887 $ - SBA Servicing Assets 4,785 - - 4,785 Interest Rate Lock Commitments 410 - 410 - Best Efforts Forward Loan Sales Commitments 5 - 5 - Mandatory Forward Loan Sales Commitments 10 - 10 - Liabilities: Interest Rate Lock Commitments - - - - Best Efforts Forward Loan Sales Commitments 138 - 138 - Mandatory Forward Loan Sales Commitments 230 - 230 - The following tables present an analysis of the activity in the SBA servicing assets for the three nine September 30, 2019 2018: Three Months Ended September 30, (dollars in thousands) 201 9 201 8 Beginning balance, July 1 st $ 4,593 $ 4,977 Additions 272 297 Fair value adjustments (361 ) (419 ) Ending balance, September 30 th $ 4,504 $ 4,855 Nine Months Ended September 30, (dollars in thousands) 2019 201 8 Beginning balance, January 1 st $ 4,785 $ 5,243 Additions 825 864 Fair value adjustments (1,106 ) (1,252 ) Ending balance, September 30 th $ 4,504 $ 4,855 Fair value adjustments are recorded as loan and servicing fees on the statement of income. Servicing fee income, not $498,000 $486,000 three September 30, 2019 2018, not $1.4 $1.5 nine September 30, 2019 2018, $204.3 September 30, 2019 $204.4 December 31, 2018 The following table presents a reconciliation of the securities available for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3 three nine September 30, 2019 2018: Three Months Ended September 30 , 201 9 Three Months Ended September 30 , 201 8 Level 3 Investments Only (dollars in thousands) Trust Preferred Securities Corporate Bonds Trust Preferred Securities Corporate Bonds Balance, July 1 st $ - $ 2,999 $ 547 $ 3,083 Unrealized gains (losses) - (108 ) - 102 Proceeds from sales - - - - Realized losses - - - - Balance, September 30 th $ - $ 2,891 $ 547 $ 3,185 Nine Months Ended September 30, 201 9 Nine Months Ended September 30, 201 8 Level 3 Investments Only (dollars in thousands) Trust Preferred Securities Corporate Bonds Trust Preferred Securities Corporate Bonds Balance, January 1 st $ - $ 3,069 $ 489 $ 3,086 Unrealized gains (losses) - (178 ) 58 99 Proceeds from sales - - - - Realized losses - - - - Balance, September 30 th $ - $ 2,891 $ 547 $ 3,185 For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2019 December 31, 2018 (dollars in thousands) Total (Level 1) Quoted Prices in Active Markets for Identical Assets (Level 2) Significant Other Observable Inputs (Level 3) Significant Unobservable Inputs September 30, 2019 Impaired loans $ 5,823 $ - $ - $ 5,823 Other real estate owned 5,726 - - 5,726 December 31, 2018 Impaired loans $ 5,955 $ - $ - $ 5,955 Other real estate owned 1,114 - - 1,114 The table below presents additional quantitative information about Level 3 Quantitative Information about Level 3 Fair Value Measurements Asset Description Fair Value Valuation Technique Unobservable Input Range (Weighted Average) September 30, 2019 Corporate bonds $ 2,891 Discounted Cash Flows Discount Rate (7.14%) SBA servicing assets $ 4,504 Discounted Cash Flows Conditional Prepayment Rate (13.28%) Discount Rate (11.00%) Impaired loans $ 5,823 Appraised Value of Collateral (1) Liquidation expenses (2) 9% - 20% (12%) (3) Other real estate owned $ 5,726 Appraised Value of Collateral (1) Liquidation expenses (2) 7% - 25% (14%) (3) Sales Price Liquidation expenses (2) (22%) (3) December 31, 2018 Corporate bonds $ 3,069 Discounted Cash Flows Discount Rate (8.24%) SBA servicing assets $ 4,785 Discounted Cash Flows Conditional Prepayment Rate (10.31%) Discount Rate (11.50%) Impaired loans $ 5,955 Appraised Value of Collateral (1) Liquidation expenses (2) 11% - 24% (13%) (3) Other real estate owned $ 1,114 Appraised Value of Collateral (1) Liquidation expenses (2) (7%) (3) ( 1 Fair value is generally determined through independent appraisals of the underlying collateral, which include Level 3 not ( 2 Appraisals may ( 3 The range and weighted average of qualitative factors such as economic conditions and estimated liquidation expenses are presented as a percent of the appraised value. The significant unobservable inputs for impaired loans and other real estate owned are the appraised value or an agreed upon sales price. These values are adjusted for estimated costs to sell which are incremental direct costs to transact a sale such as broker commissions, legal fees, closing costs and title transfer fees. The costs must be considered essential to the sale and would not not Fair Value Assumptions The following information should not may not September 30, 2019 December 31, 2018. Investment Securities The fair value of securities available for sale (carried at fair value) and held to maturity (carried at amortized cost) are determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1 2 not 3 3 3 The types of instruments valued based on matrix pricing in active markets include all of the Company’s U.S. government and agency securities, corporate bonds, asset backed securities, and municipal obligations held in the investment securities portfolio. Such instruments are generally classified within Level 2 820 10, not Level 3 not may 3 third one 3 The corporate bond included in Level 3 2 2010 not Mortgage Loans Held for Sale (Carried at Fair Value) The fair value of mortgage loans held for sale is determined by obtaining prices at which they could be sold in the principal market at the measurement date and are classified within Level 2 $142,000 $398,000 three nine September 30, 2019, $389,000 $914,000 three nine September 30, 2018, The following table reflects the difference between the carrying amount of mortgage loans held for sale, measured at fair value and the aggregate unpaid principal amount that Republic is contractually entitled to receive at maturity as of September 30, 2019 December 31, 2018. (dollars in thousands) September 30, 2019 December 31, 2018 Carrying Amount $ 18,734 $ 20,887 Aggregate Unpaid Principal Balance $ 18,203 $ 20,071 Excess Carrying Amount Over Aggregate Unpaid Principal Balance $ 531 $ 816 Changes in the excess carrying amount over aggregate unpaid principal balance are recorded in the statement of income in mortgage banking income. Republic did not 90 September 30, 2019 December 31, 2018. Interest Rate Lock Commitments (“IRLC”) The Company determines the value of IRLCs by comparing the market price to the price locked in with the customer, adding fees or points to be collected at closing, subtracting commissions to be paid at closing, and subtracting estimated remaining loan origination costs to the bank based on the processing status of the loan. The Company also considers pull-through as it determines the fair value of IRLCs. Factors that affect pull-through rates include the origination channel, current mortgage interest rates in the market versus the interest rate incorporated in the IRLC, the purpose of the mortgage (purchase versus financing), the stage of completion of the underlying application and underwriting process, and the time remaining until the IRLC expires. IRLCs are classified within Level 2 Best Efforts Forward Loan Sales Commitments Best efforts forward loan sales commitments are classified within Level 2 Mandatory Forward Loan Sales Commitments Fair values for mandatory forward loan sales commitments are based on fair values of the underlying mortgage loans and the probability of such commitments being exercised. Due to the observable inputs used by Republic, best efforts mandatory loan sales commitments are classified within Level 2 Impaired Loans (Carried at Lower of Cost or Fair Value) Impaired loans are those that the Company has measured impairment based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third 3 Other Real Estate Owned (Carried at Lower of Cost or Fair Value) These assets are carried at the lower of cost or fair value. Fair value is determined through valuations periodically performed by third September 30, 2019 December 31, 2018, 3 SBA Servicing Asset (Carried at Fair Value) The SBA servicing asset is initially recorded when loans are sold and the servicing rights are retained and recorded on the balance sheet. An updated fair value is obtained from an independent third The Company uses assumptions and estimates in determining the impairment of the SBA servicing asset. These assumptions include prepayment speeds and discount rates commensurate with the risks involved and comparable to assumptions used by participants to value and bid serving rights available for sale in the market. At September 30, 2019 December 31, 2018, 10% 20% (dollars in thousands) September 30, 2019 December 31, 2018 SBA Servicing Asset Fair Value of SBA Servicing Asset $ 4,504 $ 4,785 Composition of SBA Loans Serviced for Others Fixed-rate SBA loans 2 % 2 % Adjustable-rate SBA loans 98 % 98 % Total 100 % 100 % Weighted Average Remaining Term (years) 20.7 20.4 Prepayment Speed 13.28 % 10.31 % Effect on fair value of a 10% increase $ (175 ) $ (170 ) Effect on fair value of a 20% increase (338 ) (330 ) Weighted Average Discount Rate 11.00 % 11.50 % Effect on fair value of a 10% increase $ (160 ) $ (186 ) Effect on fair value of a 20% increase (309 ) (359 ) The sensitivity calculations above are hypothetical and should not may not one may Off-Balance Sheet Financial Instruments (Disclosed at notional amounts) Fair values for the Company’s off-balance sheet financial instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing. The estimated fair values of the Company’s financial instruments at September 30, 2019 Fair Value Measurements at September 30, 2019 (dollars in thousands) Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance Sheet Data Financial assets: Cash and cash equivalents $ 201,477 $ 201,477 $ 201,477 $ - $ - Investment securities available for sale 379,962 379,962 - 377,071 2,891 Investment securities held to maturity 687,425 699,054 - 699,054 - Restricted stock 2,371 2,371 - 2,371 - Loans held for sale 21,210 21,210 - 18,734 2,476 Loans receivable, net 1,560,913 1,530,738 - - 1,530,738 SBA servicing assets 4,504 4,504 - - 4,504 Accrued interest receivable 9,277 9,277 - 9,277 - Interest rate lock commitments 506 506 - 506 - Best efforts forward loan sales commitments 43 43 - 43 - Mandatory forward loan sales commitments 27 27 - 27 - Financial liabilities: Deposits Demand, savings and money market $ 2,522,829 $ 2,522,829 $ - $ 2,522,829 $ - Time 217,203 217,325 - 217,325 - Subordinated debt 11,263 8,109 - - 8,109 Accrued interest payable 1,655 1,655 - 1,655 - Interest rate lock commitments 2 2 - 2 - Best efforts forward loan sales commitments 126 126 - 126 - Mandatory forward loan sales commitments 79 79 - 79 - Off-Balance Sheet Data Commitments to extend credit - - - - - Standby letters-of-credit - - - - - The estimated fair values of the Company’s financial instruments at December 31, 2018 Fair Value Measurements at December 31, 2018 (dollars in thousands) Carrying Amount Fair Value Quoted Prices in Active Markets for I dentical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance Sheet Data Financial assets: Cash and cash equivalents $ 72,473 $ 72,473 $ 72,473 $ - $ - Investment securities available for sale 321,014 321,014 - 317,945 3,069 Investment securities held to maturity 761,563 747,323 - 747,323 - Restricted stock 5,754 5,754 - 5,754 - Loans held for sale 26,291 26,291 - 20,887 5,404 Loans receivable, net 1,427,983 1,410,945 - - 1,410,945 SBA servicing assets 4,785 4,785 - - 4,785 Accrued interest receivable 9,025 9,025 - 9,025 - Interest rate lock commitments 410 410 - 410 - Best efforts forward loan sales commitments 5 5 - 5 - Mandatory forward loan sales commitments 10 10 - 10 - Financial liabilities: Deposits Demand, savings and money market $ 2,238,610 $ 2,238,610 $ - $ 2,238,610 $ - Time 154,257 152,989 - 152,989 - Subordinated debt 11,259 8,279 - - 8,279 Accrued interest payable 558 558 - 558 - Interest rate lock commitments - - - - - Best efforts forward loan sales commitments 138 138 - 138 - Mandatory forward loan sales commitments 230 230 - 230 - Off-Balance Sheet Data Commitments to extend credit - - - - - Standby letters-of-credit - - - - - |
Note 8 - Changes in Accumulated
Note 8 - Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 8: lated Other Comprehensive Income ( Loss ) By Component ( 1 The following table presents the changes in accumulated other comprehensive loss by component for the nine September 30, 2019 2018, December 31, 2018. Unrealized Gains (Losses) on Available- For-Sale Securities Unrealized Holding Losses on Securities Transferred From Available-For-Sale To Held-To-Maturity Total (dollars in thousands) Balance January 1, 2019 $ (4,736 ) $ (7,191 ) $ (11,927 ) Unrealized gain on securities 4,456 - 4,456 Amounts reclassified from accumulated other comprehensive income to net income (2) (894 ) 841 (53 ) Net current-period other comprehensive income 3,562 841 4,403 Total change in accumulated other comprehensive income 3,562 841 4,403 Balance September 30, 2019 $ (1,174 ) $ (6,350 ) $ (7,524 ) Balance January 1, 2018 $ (7,150 ) $ (359 ) $ (7,509 ) Reclassification due to the adoption of ASU 2018-02 (1,562 ) (78 ) (1,640 ) Unrealized loss on securities (9,536 ) - (9,536 ) Amounts reclassified from accumulated other comprehensive income to net income (2) 1 83 84 Net current-period other comprehensive income (loss) (9,535 ) 83 (9,452 ) Total change in accumulated other comprehensive income (loss) (11,097 ) 5 (11,092 ) Balance September 30, 2018 $ (18,247 ) $ (354 ) $ (18,601 ) Balance January 1, 2018 $ (7,150 ) $ (359 ) $ (7,509 ) Reclassification due to the adoption of ASU 2018-02 (1,562 ) (78 ) (1,640 ) Unrealized gain on securities 3,927 - 3,927 Net unrealized holding losses on securities transferred from available-for-sale to held-to-maturity - (6,855 ) (6,855 ) Amounts reclassified from accumulated other comprehensive income to net income (2) 49 101 150 Net current-period other comprehensive income (loss) 3,976 (6,754 ) (2,778 ) Total change in accumulated other comprehensive income (loss) 2,414 (6,832 ) (4,418 ) Balance December 31, 2018 $ (4,736 ) $ (7,191 ) $ (11,927 ) ( 1 All amounts are net of tax. Amounts in parentheses indicate reductions to other comprehensive income. ( 2 Reclassification amounts are reported as gains on sales of investment securities, impairment losses, and amortization of net unrealized losses on the Consolidated Statement of Operations. |
Note 9 - Goodwill and Other Int
Note 9 - Goodwill and Other Intangibles | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 9: The Company completed an annual impairment test for goodwill as of July 31, 2019. July 31, nine September 30, 2019 2018, no no not The Company’s goodwill and intangible assets related to the acquisition of Oak Mortgage in July 2016 Three Months Ended September 30, (dollars in thousands) 2019 2018 Balance, July 1st $ 5,011 $ 5,011 Additions/Adjustments - - Amortization - - Balance, September 30th $ 5,011 $ 5,011 Amortization Period (in years) Indefinite Indefinite Nine Months Ended September 30, (dollars in thousands) 2019 2018 Balance, January 1st $ 5,011 $ 5,011 Additions/Adjustments - - Amortization - - Balance, September 30 th $ 5,011 $ 5,011 Amortization Period (in years) Indefinite Indefinite |
Note 10 - Derivatives and Risk
Note 10 - Derivatives and Risk Management Activities | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 10: Republic did not nine September 30, 2019 September 30, 2018. not September 30, 2019 December 31, 2018 ( September 3 0 , 2019 Balance Sheet Presentation Fair Value Notional Amount Asset derivatives: IRLCs Other Assets $ 506 $ 29,205 Best efforts forward loan sales commitments Other Assets 43 10,622 Mandatory forward loan sales commitments Other Assets 27 6,948 Liability derivatives: IRLCs Other Liabilities $ 2 $ 810 Best efforts forward loan sales commitments Other Liabilities 126 19,393 Mandatory forward loan sales commitments Other Liabilities 79 11,132 December 31, 2018 Balance Sheet Presentation Fair Value Notional Amount Asset derivatives: IRLCs Other Assets $ 410 $ 16,966 Best efforts forward loan sales commitments Other Assets 5 1,639 Mandatory forward loan sales commitments Other Assets 10 865 Liability derivatives: IRLCs Other Liabilities $ - $ - Best efforts forward loan sales commitments Other Liabilities 138 15,327 Mandatory forward loan sales commitments Other Liabilities 230 18,980 The following tables summarize the amounts recorded in Republic’s statement of operations for derivative instruments not three nine September 30, 2019 2018 Statement of Operations Presentation Three Months Ended September 30, 201 9 Gain/(Loss) Nine Months Ended September 30, 201 9 Gain/(Loss) Asset derivatives: IRLCs Mortgage banking income $ (201 ) $ 96 Best efforts forward loan sales commitments Mortgage banking income 26 38 Mandatory forward loan sales commitments Mortgage banking income 27 17 Liability derivatives: IRLCs Mortgage banking income $ (2 ) $ (2 ) Best efforts forward loan sales commitments Mortgage banking income 81 12 Mandatory forward loan sales commitments Mortgage banking income 148 151 Statement of Operations Presentation Three Months Ended September 30, 201 8 Gain/(Loss) Nine Months Ended September 30, 201 8 Gain/(Loss) Asset derivatives: IRLCs Mortgage banking income $ (297 ) $ 54 Best efforts forward loan sales commitments Mortgage banking income 7 3 Mandatory forward loan sales commitments Mortgage banking income 13 - Liability derivatives: IRLCs Mortgage banking income $ 3 $ 1 Best efforts forward loan sales commitments Mortgage banking income 120 3 Mandatory forward loan sales commitments Mortgage banking income 198 92 The fair value of Republic’s IRLCs, best efforts forward loan sales commitments, and mandatory forward loan sales commitments are based upon the estimated value of the underlying mortgage loan (determined consistent with “Loans Held for Sale”), adjusted for ( 1 2 |
Note 11 - Revenue Recognition
Note 11 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 11: On January 1, 2018, 2014 09 Revenue from Contracts with Customers (Topic 606 606. 2 Summary of Significant Accounting Policies, not not January 1, 2018 606, not 605. Topic 606 not not 606 not 606. 606 Service Charges on Deposit Accounts Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), ATM fees, NSF fees, and other deposit related fees. The Company’s performance obligation for account analysis fees and monthly services fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided, which is typically one ATM fees, NSF fees, and other deposit related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and the related revenue recognized, at a point in time. Payment for these service charges are received immediately through a direct charge to customers’ accounts. For the Company, there are no 606. The following tables present non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, three nine September 30, 2019 2018. Three Months Ended September 30, (dollars in thousands) 201 9 201 8 Non-interest income In-scope of Topic 606 Service charges on deposit accounts $ 1,990 $ 1,386 Other non-interest income 46 29 Non-interest income (in-scope of Topic 606) 2,036 1,415 Non-interest income (out-of-scope of Topic 606) 4,518 3,716 Total non-interest income $ 6,554 $ 5,131 Nine Months Ended September 30, (dollars in thousands) 201 9 201 8 Non-interest income In-scope of Topic 606 Service charges on deposit accounts $ 5,450 $ 3,887 Other non-interest income 175 107 Non-interest income (in-scope of Topic 606) 5,625 3,994 Non-interest income (out-of-scope of Topic 606) 12,900 11,440 Total non-interest income $ 18,525 $ 15,434 Contract Balances A contract assets balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s non-interest revenue streams are largely based on transaction activity, or standard month-end revenue accruals. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not not September 30, 2019 December 31, 2018, not Contract Acquisition Costs In connection with the adoption of Topic 606, not not one 606, not |
Note 12 - Leases
Note 12 - Leases | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 12: In February 2016, 2016 02, 842 2016 02” January 1, 2019. 2016 02 2016 02 January 1, 2019) not 2016 02 $35.1 $34.2 twenty-three no not not not At January 1, 2019, thirty-four fifteen eight eleven one At September 30, 2019, thirty-seven seventeen eight twelve not one thirty-nine December 2019 December 2058 five ten 19.1 September 30, 2019. The discount rate used in determining the operating lease liability obligation for each individual lease was the assumed incremental borrowing rate for the Company that corresponded with the remaining lease term as of January 1, 2019 3.58% September 30, 2019. The following table presents operating lease costs net of sublease income for the three nine September 30, 2019. Three Months Ended September 3 0 , 2019 Nine Months Ended September 3 0 , 2019 (dollars in thousands) Operating lease cost $ 1,890 $ 4,920 Sublease income (80 ) (241 ) Total lease cost $ 1,810 $ 4,679 The following table presents a maturity analysis of total operating lease liability obligations and reconciliation of the undiscounted cash flows to total operating lease liability obligations at September 30, 2019. September 3 0 , 2019 (dollars in thousands) Operating lease payments due: Within one year $ 6,962 One to three years 11,806 Three to five years 10,106 More than five years 72,030 Total undiscounted cash flows 100,904 Discount on cash flows (31,258 ) Total operating lease liability obligations $ 69,646 The following table presents cash and non-cash activities for the three nine September 30, 2019. Three Months Ended September 3 0 , 2019 Nine Months Ended September 3 0 , 2019 (dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,706 $ 3,755 Non-cash investing and financing activities Additions to Operating leases – right of use asset New operating lease liability obligation $ 101 $ 72,457 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Risks and Uncertainties and Certain Significant Estimates [Policy Text Block] | Risks and Uncertainties The earnings of the Company depend primarily on the earnings of Republic. The earnings of Republic are heavily dependent upon the level of net interest income, which is the difference between interest earned on its interest-earning assets, such as loans and investments, and the interest paid on its interest-bearing liabilities, such as deposits and borrowings. Accordingly, the Company’s results of operations are subject to risks and uncertainties surrounding Republic’s exposure to changes in the interest rate environment. Prepayments on residential real estate mortgage and other fixed rate loans and mortgage-backed securities vary significantly and may |
Mortgage Banking Activity [Policy Text Block] | Mortgage Banking Activities and Mortgage Loans Held for Sale Mortgage loans held for sale are originated and held until sold to permanent investors. Management has adopted the fair value option in accordance with FASB Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures Mortgage loans held for sale originated on or subsequent to the election of the fair value option, are recorded on the balance sheet at fair value. The fair value is determined on a recurring basis by utilizing quoted prices from dealers in such securities. Changes in fair value are reflected in mortgage banking income in the statements of income. Direct loan origination costs are recognized when incurred and are included in non-interest expense in the statements of income. |
Derivatives, Policy [Policy Text Block] | Interest Rate Lock Commitments (“IRLCs”) Mortgage loan commitments known as interest rate locks that relate to the origination of a mortgage that will be held for sale upon funding are considered derivative instruments under the derivatives and hedging accounting guidance FASB ASC 815, Derivatives and Hedging 30 90 not not 10 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates are made by management in determining the allowance for loan losses, carrying values of other real estate owned, assessment of other than temporary impairment (“OTTI”) of investment securities, fair value of financial instruments, and the realization of deferred income tax assets. Consideration is given to a variety of factors in establishing these estimates. In estimating the allowance for loan losses, management considers current economic conditions, past loss experience, diversification of the loan portfolio, delinquency statistics, results of internal loan reviews and regulatory examinations, borrowers’ perceived financial and managerial strengths, the adequacy of underlying collateral, if collateral dependent, or present value of future cash flows, and other relevant and qualitative risk factors. Subsequent to foreclosure, an estimate for the carrying value of other real estate owned is normally determined through valuations that are periodically performed by management and the assets are carried at the lower of carrying amount or fair value, less the cost to sell. Because the allowance for loan losses and carrying value of other real estate owned are dependent, to a great extent, on the general economy and other conditions that may In estimating OTTI of investment securities, securities are evaluated on at least a quarterly basis and more frequently when market conditions warrant such an evaluation, to determine whether a decline in their value is other-than-temporary. To determine whether a loss in value is other-than-temporary, management utilizes criteria such as the reasons underlying the decline, the magnitude and duration of the decline, the intent to hold the security and the likelihood of the Company not not not In evaluating the Company’s ability to recover deferred tax assets, management considers all available positive and negative evidence, including the past operating results and forecasts of future taxable income. In determining future taxable income, management makes assumptions for the amount of taxable income, the reversal of temporary differences and the implementation of feasible and prudent tax planning strategies. These assumptions require management to make judgments about the future taxable income and are consistent with the plans and estimates used to manage the business. A material reduction in estimated future taxable income may |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation The Company has a Stock Option and Restricted Stock Plan (“the 2005 2005 November 14, 1995, 2005 2005 1.5 2005 1.5 September 30, 2019, 2005 2005 2005 one four 10 2005 November 14, 2015 On April 29, 2014 2014 “2014 may 2014 2.6 no 10% may September 30, 2019, 2014 6.3 nine September 30, 2019, 1.3 2014 $2,900,495. The Company utilizes the Black-Scholes option pricing model to calculate the estimated fair value of each stock option granted on the date of the grant. A summary of the assumptions used in the Black-Scholes option pricing model for 2019 2018 201 9 201 8 Dividend yield (1) 0.0% 0.0% Expected volatility (2) 28.81% 28.22% Risk-free interest rate (3 ) 1.42% to 2.78% 2.35% to 2.96% Expected life (4) 6.25 6.25 Assumed forfeiture rate (5 ) 4.0% 4.0% ( 1 0.0% ( 2 ( 3 five seven ( 4 ) 1 4 ten ( 5 ) three During the nine September 30, 2019 2018, 842,898 753,864 September 30, 2019, 5,007,725 $780,000, 2,645,960 $753,000. September 30, 2018, 3,841,275 $6.7 1,905,112 $5.4 nine September 30, 2019, 53,550 $261,143 142,875 $381,811. nine September 30, 2018, 174,225 $668,194 70,125 $215,201. Information regarding stock based compensation for the nine September 30, 2019 2018 201 9 201 8 Stock based compensation expense recognized $ 2,005,000 $ 1,584,000 Number of unvested stock options 2,361,765 1,936,163 Fair value of unvested stock options $ 6,095,468 $ 5,499,104 Amount remaining to be recognized as expense $ 4,183,148 $ 3,886,278 The remaining unrecognized expense amount of $4,183,148 August 2023. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Earnings per share (“EPS”) consists of two nine September 30, 2019 September 30, 2018. The calculation of EPS for the three nine September 30, 2019 2018 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net income (loss) -basic and diluted $ (1,822 ) $ 2,322 $ (1,015 ) $ 6,470 Weighted average shares outstanding 58,843 58,774 58,830 58,213 Net income (loss) per share – basic $ (0.03 ) $ 0.04 $ (0.02 ) $ 0.11 Weighted average shares outstanding (including dilutive CSEs) 58,843 59,774 58,830 59,338 Net income (loss) per share – diluted $ (0.03 ) $ 0.04 $ (0.02 ) $ 0.11 The following is a summary of securities that could potentially dilute basic earnings per common share in future periods. These securities were not (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Anti-dilutive securities Share based compensation awards - 2,845 - 2,720 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements ASU 2014 09 In May 2014, 2014 09, “Revenue from Contracts with Customers (Topic 660 606 340 40 2014 09 605, August 2015, 2015 14, Revenue from Contracts with The Company (Topic 606 December 15, 2017, 2014 09 January 1, 2018. no not not 11: 606. ASU 2016 01 In January 2016, No. 2016 01, Financial Instruments - Overall. 1 2 3 4 5 6 7 December 15, 2017, January 1, 2018 No. 2016 01 January 1, 2018 not 4 December 31, 2018 7 Fair Value of Financial Instruments). ASU 2016 02 In February 2016, No. 2016 02, Leases. 12 December 15, 2018, In July 2018, 2018 11 842 In December 2018, 2018 20 842 not third The Company adopted this ASU on January 1, 2019. $34.2 $35.1 January 1, 2019. no not 1 2 3 4 ASU 2016 13 In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 may December 15, 2019. ASU 2016 15 In August 2016, 2016 15, Statement of Cash Flows (Topic 230 January 1, 2018, 2016 15 not ASU 2017 01 In January 2017, 2017 01, Business Combinations (Topic 805 805. 805 No. 141 805 December 15, 2017, December 15, 2018, December 15, 2019. no not not ASU 2017 04 In January 2017, 2017 04, Simplifying the Test For Goodwill Impairment. 2 December 15, 2019. July 1, 2018 2017 04 not ASU 2017 08 In March 2017, 2017 08, Premium Amortization on Purchased Callable Debt Securities, December 15, 2018. December 15, 2019, December 15, 2020. 2017 08 not ASU 2017 09 In May 2017, 2017 09, Compensation – Stock Compensation: Scope of Modification Accounting, 718. December 15, 2017. 1 not 2 not January 1, 2018 2017 09 not ASU 2018 02 In February 2018, 2018 02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2017 December 15, 2018. not January 1, 2018, $1.6 ASU 2018 03 In February 2018, 2018 03, Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825 10 2016 01 January 1, 2018. not ASU 2018 07 In June 2018, 2018 07, Compensation – Stock Compensation (Topic 718 2018 07, December 15, 2018, January 1, 2019. not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 201 9 201 8 Dividend yield (1) 0.0% 0.0% Expected volatility (2) 28.81% 28.22% Risk-free interest rate (3 ) 1.42% to 2.78% 2.35% to 2.96% Expected life (4) 6.25 6.25 Assumed forfeiture rate (5 ) 4.0% 4.0% |
Share-based Payment Arrangement, Activity [Table Text Block] | 201 9 201 8 Stock based compensation expense recognized $ 2,005,000 $ 1,584,000 Number of unvested stock options 2,361,765 1,936,163 Fair value of unvested stock options $ 6,095,468 $ 5,499,104 Amount remaining to be recognized as expense $ 4,183,148 $ 3,886,278 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net income (loss) -basic and diluted $ (1,822 ) $ 2,322 $ (1,015 ) $ 6,470 Weighted average shares outstanding 58,843 58,774 58,830 58,213 Net income (loss) per share – basic $ (0.03 ) $ 0.04 $ (0.02 ) $ 0.11 Weighted average shares outstanding (including dilutive CSEs) 58,843 59,774 58,830 59,338 Net income (loss) per share – diluted $ (0.03 ) $ 0.04 $ (0.02 ) $ 0.11 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Anti-dilutive securities Share based compensation awards - 2,845 - 2,720 |
Note 5 - Investment Securities
Note 5 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | At September 30, 2019 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Government agencies $ 29,404 $ 16 $ - $ 29,420 Collateralized mortgage obligations 254,439 2,641 (691 ) 256,389 Agency mortgage-backed securities 23,889 93 (81 ) 23,901 Municipal securities 4,065 17 - 4,082 Corporate bonds 69,499 9 (3,338 ) 66,170 Total securities available for sale $ 381,296 $ 2,776 $ (4,110 ) $ 379,962 U.S. Government agencies $ 98,481 $ 1,192 $ (97 ) $ 99,576 Collateralized mortgage obligations 448,807 9,962 (620 ) 458,149 Agency mortgage-backed securities 140,137 1,768 (576 ) 141,329 Total securities held to maturity $ 687,425 $ 12,922 $ (1,293 ) $ 699,054 At December 31, 2018 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Collateralized mortgage obligations $ 197,812 $ 567 $ (2,120 ) $ 196,259 Agency mortgage-backed securities 39,105 5 (611 ) 38,499 Municipal securities 20,807 64 (232 ) 20,639 Corporate bonds 62,583 87 (3,396 ) 59,274 Asset-backed securities 6,433 - (90 ) 6,343 Total securities available for sale $ 326,740 $ 723 $ (6,449 ) $ 321,014 U.S. Government agencies $ 107,390 $ - $ (3,772 ) $ 103,618 Collateralized mortgage obligations 500,690 570 (5,793 ) 495,467 Agency mortgage-backed securities 153,483 - (5,245 ) 148,238 Total securities held to maturity $ 761,563 $ 570 $ (14,810 ) $ 747,323 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available for Sale Held to Maturity (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in 1 year or less $ 3,439 $ 3,448 $ - $ - After 1 year to 5 years 20,839 20,855 11,487 11,617 After 5 years to 10 years 75,690 72,478 86,994 87,959 After 10 years 3,000 2,891 - - Collateralized mortgage obligations 254,439 256,389 448,807 458,149 Agency mortgage-backed securities 23,889 23,901 140,137 141,329 Total $ 381,296 $ 379,962 $ 687,425 $ 699,054 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | (dollars in thousands) 2019 2018 Beginning Balance, January 1 st $ - $ 274 Additional credit-related impairment loss on securities for which an other-than-temporary impairment was previously recognized - - Reductions for securities sold during the period - - Ending Balance, September 30 th $ - $ 274 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | At September 30, 2019 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Collateralized mortgage obligations $ 55,237 $ 623 $ 9,339 $ 68 $ 64,576 $ 691 Agency mortgage-backed securities 2,716 8 8,742 73 11,458 81 Corporate bonds 11,390 110 51,772 3,228 63,162 3,338 Total Available for Sale $ 69,343 $ 741 $ 69,853 $ 3,369 $ 139,196 $ 4,110 At September 30, 2019 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ 13,938 $ 70 $ 3,750 $ 27 $ 17,688 $ 97 Collateralized mortgage obligations 2,575 11 68,023 609 70,598 620 Agency mortgage-backed securities - - 69,551 576 69,551 576 Total Held to Maturity $ 16,513 $ 81 $ 141,324 $ 1,212 $ 157,837 $ 1,293 At December 31, 2018 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Collateralized mortgage obligations $ 58,883 $ 270 $ 83,377 $ 1,850 $ 142,260 $ 2,120 Agency mortgage-backed securities 1,134 10 16,768 601 17,902 611 Municipal securities 1,549 7 12,154 225 13,703 232 Corporate bonds - - 53,189 3,396 53,189 3,396 Asset backed securities 6,343 90 - - 6,343 90 Total Available for Sale $ 67,909 $ 377 $ 165,488 $ 6,072 $ 233,397 $ 6,449 At December 31, 2018 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ 5,351 $ 26 $ 98,267 $ 3,746 $ 103,618 $ 3,772 Collateralized mortgage obligations 44,574 475 173,467 5,318 218,041 5,793 Agency mortgage-backed securities - - 119,243 5,245 119,243 5,245 Total Held to Maturity $ 49,925 $ 501 $ 390,977 $ 14,309 $ 440,902 $ 14,810 |
Note 6 - Loans Receivable and_2
Note 6 - Loans Receivable and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (dollars in thousands) September 3 0 , 2019 December 31, 2018 Commercial real estate $ 570,327 $ 515,738 Construction and land development 109,582 121,042 Commercial and industrial 187,837 200,423 Owner occupied real estate 397,843 367,895 Consumer and other 98,034 91,152 Residential mortgage 205,498 140,364 Total loans receivable 1,569,121 1,436,614 Deferred costs (fees) 259 (16 ) Allowance for loan losses (8,467 ) (8,615 ) Net loans receivable $ 1,560,913 $ 1,427,983 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Unallocated Total Three months ended September 30, 2019 Allowance for loan losses: Beginning balance: $ 2,673 $ 631 $ 875 $ 2,158 $ 562 $ 1,124 $ 33 $ 8,056 Charge-offs - - (72 ) - (29 ) - - (101 ) Recoveries - - 59 1 2 - - 62 Provisions (credits) 198 (10 ) (79 ) 31 36 205 69 450 Ending balance $ 2,871 $ 621 $ 783 $ 2,190 $ 571 $ 1,329 $ 102 $ 8,467 Three months ended September 30, 2018 Allowance for loan losses: Beginning balance: $ 2,039 $ 772 $ 1,449 $ 1,856 $ 509 $ 638 $ 303 $ 7,566 Charge-offs - - - - (1 ) - - (1 ) Recoveries 17 - 1 - 1 - - 19 Provisions (credits) 202 34 193 156 38 103 (226 ) 500 Ending balance $ 2,258 $ 806 $ 1,643 $ 2,012 $ 547 $ 741 $ 77 $ 8,084 (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Unallocated Total Nine months ended September 30, 2019 Allowance for loan losses: Beginning balance: $ 2,462 $ 777 $ 1,754 $ 2,033 $ 577 $ 894 $ 118 $ 8,615 Charge-offs - - (1,002 ) - (117 ) - - (1,119 ) Recoveries - - 213 1 7 - - 221 Provisions (credits) 409 (156 ) (182 ) 156 104 435 (16 ) 750 Ending balance $ 2,871 $ 621 $ 783 $ 2,190 $ 571 $ 1,329 $ 102 $ 8,467 Nine months ended September 30, 2018 Allowance for loan losses: Beginning balance: $ 3,774 $ 725 $ 1,317 $ 1,737 $ 573 $ 392 $ 81 $ 8,599 Charge-offs (1,535 ) - (151 ) (465 ) (213 ) - - (2,364 ) Recoveries 50 - 77 20 2 - - 149 Provisions (credits) (31 ) 81 400 720 185 349 (4 ) 1,700 Ending balance $ 2,258 $ 806 $ 1,643 $ 2,012 $ 547 $ 741 $ 77 $ 8,084 (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Unallocated Total September 30, 2019 Allowance for loan losses: Individually evaluated for impairment $ 262 $ - $ 35 $ 291 $ - $ - $ - $ 588 Collectively evaluated for impairment 2,609 621 748 1,899 571 1,329 102 7,879 Total allowance for loan losses $ 2,871 $ 621 $ 783 $ 2,190 $ 571 $ 1,329 $ 102 $ 8,467 Loans receivable: Loans evaluated individually $ 11,257 $ - $ 3,608 $ 3,532 $ 961 $ 768 $ - $ 20,126 Loans evaluated collectively 559,070 109,582 184,229 394,311 97,073 204,730 - 1,548,995 Total loans receivable $ 570,327 $ 109,582 $ 187,837 $ 397,843 $ 98,034 $ 205,498 $ - $ 1,569,121 (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Unallocated Total December 31, 2018 Allowance for loan losses: Individually evaluated for impairment $ 295 $ - $ 867 $ 217 $ 94 $ - $ - $ 1,473 Collectively evaluated for impairment 2,167 777 887 1,816 483 894 118 7,142 Total allowance for loan losses $ 2,462 $ 777 $ 1,754 $ 2,033 $ 577 $ 894 $ 118 $ 8,615 Loans receivable: Loans evaluated individually $ 10,947 $ - $ 3,662 $ 2,560 $ 861 $ - $ - $ 18,030 Loans evaluated collectively 504,791 121,042 196,761 365,335 90,291 140,364 - 1,418,584 Total loans receivable $ 515,738 $ 121,042 $ 200,423 $ 367,895 $ 91,152 $ 140,364 $ - $ 1,436,614 |
Impaired Financing Receivables [Table Text Block] | September 30, 2019 December 31, 2018 (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial real estate $ 7,243 $ 7,248 $ - $ 6,332 $ 6,337 $ - Construction and land development - - - - - - Commercial and industrial 3,229 6,589 - 1,655 5,418 - Owner occupied real estate 1,775 1,924 - 1,905 2,013 - Consumer and other 961 1,256 - 710 1,082 - Residential mortgage 768 768 - - - - Total $ 13,976 $ 17,785 $ - $ 10,602 $ 14,850 $ - With an allowance recorded: Commercial real estate $ 4,014 $ 4,536 $ 262 $ 4,615 $ 5,498 $ 295 Construction and land development - - - - - - Commercial and industrial 379 394 35 2,007 2,195 867 Owner occupied real estate 1,757 1,757 291 655 704 217 Consumer and other - - - 151 158 94 Residential mortgage - - - - - - Total $ 6,150 $ 6,687 $ 588 $ 7,428 $ 8,555 $ 1,473 Total: Commercial real estate $ 11,257 $ 11,784 $ 262 $ 10,947 $ 11,835 $ 295 Construction and land development - - - - - - Commercial and industrial 3,608 6,983 35 3,662 7,613 867 Owner occupied real estate 3,532 3,681 291 2,560 2,717 217 Consumer and other 961 1,256 - 861 1,240 94 Residential mortgage 768 768 - - - - Total $ 20,126 $ 24,472 $ 588 $ 18,030 $ 23,405 $ 1,473 |
Impaired Financing Receivables, Average Recorded Investment and Interest Income, Accrual Method [Table Text Block] | Three Months Ended September 30, 2019 2018 (dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 7,004 $ 80 $ 9,748 $ 72 Construction and land development - - - - Commercial and industrial 2,821 19 2,566 12 Owner occupied real estate 1,801 12 2,255 15 Consumer and other 931 4 647 10 Residential mortgage 640 1 - - Total $ 13,197 $ 116 $ 15,216 $ 109 With an allowance recorded: Commercial real estate $ 4,114 $ - $ 3,976 $ - Construction and land development - - - - Commercial and industrial 572 - 1,948 1 Owner occupied real estate 1,492 12 905 6 Consumer and other 12 - 169 - Residential mortgage - - - - Total $ 6,190 $ 12 $ 6,998 $ 7 Total: Commercial real estate $ 11,118 $ 80 $ 13,724 $ 72 Construction and land development - - - - Commercial and industrial 3,393 19 4,514 13 Owner occupied real estate 3,293 24 3,160 21 Consumer and other 943 4 816 10 Residential mortgage 640 1 - - Total $ 19,387 $ 128 $ 22,214 $ 116 Nine Months Ended September 30, 2019 2018 (dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 6,532 $ 220 $ 11,454 $ 216 Construction and land development - - - - Commercial and industrial 2,001 19 3,762 45 Owner occupied real estate 1,853 40 2,367 43 Consumer and other 871 12 645 12 Residential mortgage 384 2 - - Total $ 11,641 $ 293 $ 18,228 $ 316 With an allowance recorded: Commercial real estate $ 4,314 $ - $ 2,692 $ - Construction and land development - - - - Commercial and industrial 956 - 1,826 4 Owner occupied real estate 962 24 1,047 18 Consumer and other 38 - 201 1 Residential mortgage - - - - Total $ 6,270 $ 24 $ 5,766 $ 23 Total: Commercial real estate $ 10,846 $ 220 $ 14,146 $ 216 Construction and land development - - - - Commercial and industrial 2,957 19 5,588 49 Owner occupied real estate 2,815 64 3,414 61 Consumer and other 909 12 846 13 Residential mortgage 384 2 - - Total $ 17,911 $ 317 $ 23,994 $ 339 |
Financing Receivable, Past Due [Table Text Block] | (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Receivable Loans Receivable > 90 Days and Accruing At September 3 0 , 2019 Commercial real estate $ 93 $ - $ 4,269 $ 4,362 $ 565,965 $ 570,327 $ - Construction and land development - - - - 109,582 109,582 - Commercial and industrial - - 3,608 3,608 184,229 187,837 - Owner occupied real estate - 28 2,317 2,345 395,498 397,843 - Consumer and other 83 9 1,090 1,182 96,852 98,034 129 Residential mortgage - - 768 768 204,730 205,498 - Total $ 176 $ 37 $ 12,052 $ 12,265 $ 1,556,856 $ 1,569,121 $ 129 (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Receivable Loans Receivable > 90 Days and Accruing At December 31, 2018 Commercial real estate $ 339 $ 921 $ 4,631 $ 5,891 $ 509,847 $ 515,738 $ - Construction and land development - - - - 121,042 121,042 - Commercial and industrial 280 - 3,661 3,941 196,482 200,423 - Owner occupied real estate - 653 1,188 1,841 366,054 367,895 - Consumer and other 214 - 861 1,075 90,077 91,152 - Residential mortgage 302 - - 302 140,062 140,364 - Total $ 1,135 $ 1,574 $ 10,341 $ 13,050 $ 1,423,564 $ 1,436,614 $ - |
Financing Receivable Credit Quality Indicators [Table Text Block] | (dollars in thousands) Pass Special Mention Substandard Doubtful Total At September 3 0 , 2019: Commercial real estate $ 565,187 $ 92 $ 5,048 $ - $ 570,327 Construction and land development 109,582 - - - 109,582 Commercial and industrial 184,229 - 3,328 280 187,837 Owner occupied real estate 392,245 2,066 3,532 - 397,843 Consumer and other 97,073 - 961 - 98,034 Residential mortgage 204,608 122 768 - 205,498 Total $ 1,552,924 $ 2,280 $ 13,637 $ 280 $ 1,569,121 (dollars in thousands) Pass Special Mention Substandard Doubtful Total At December 31, 2018: Commercial real estate $ 510,186 $ 921 $ 4,631 $ - $ 515,738 Construction and land development 121,042 - - - 121,042 Commercial and industrial 196,751 10 3,382 280 200,423 Owner occupied real estate 364,032 1,303 2,560 - 367,895 Consumer and other 90,291 - 861 - 91,152 Residential mortgage 140,240 124 - - 140,364 Total $ 1,422,542 $ 2,358 $ 11,434 $ 280 $ 1,436,614 |
Financing Receivable, Nonaccrual [Table Text Block] | (dollars in thousands) September 30, 2019 December 31, 2018 Commercial real estate $ 4,269 $ 4,631 Construction and land development - - Commercial and industrial 3,608 3,661 Owner occupied real estate 2,317 1,188 Consumer and other 961 861 Residential mortgage 768 - Total $ 11,923 $ 10,341 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | (dollars in thousands) Number of Loans Accrual Status Non- Accrual Status Total TDRs September 30, 2019 Commercial real estate 1 $ 6,209 $ - $ 6,209 Construction and land development - - - - Commercial and industrial - - - - Owner occupied real estate - - - - Consumer and other - - - - Residential mortgage - - - - Total 1 $ 6,209 $ - $ 6,209 December 31, 2018 Commercial real estate 1 $ 6,316 $ - $ 6,316 Construction and land development - - - - Commercial and industrial 3 - 1,224 1,224 Owner occupied real estate 1 - 242 242 Consumer and other - - - - Residential mortgage - - - - Total 5 $ 6,316 $ 1,466 $ 7,782 |
Note 7 - Fair Value of Financ_2
Note 7 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | (dollars in thousands) Total (Level 1) Quoted Prices in Active Markets for Identical Assets (Level 2) Significant Other Observable Inputs (Level 3) Significant Unobservable Inputs September 30, 2019 Assets: U.S. Government agencies $ 29,420 $ - $ 29,420 $ - Collateralized mortgage obligations 256,389 - 256,389 - Agency mortgage-backed securities 23,901 - 23,901 - Municipal securities 4,082 - 4,082 - Corporate bonds 66,170 - 63,279 2,891 Securities Available for Sale $ 379,962 $ - $ 377,071 $ 2,891 Mortgage Loans Held for Sale $ 18,734 $ - $ 18,734 $ - SBA Servicing Assets 4,504 - - 4,504 Interest Rate Lock Commitments 506 - 506 - Best Efforts Forward Loan Sales Commitments 43 - 43 - Mandatory Forward Loan Sales Commitments 27 - 27 - Liabilities: Interest Rate Lock Commitments 2 - 2 - Best Efforts Forward Loan Sales Commitments 126 - 126 - Mandatory Forward Loan Sales Commitments 79 - 79 - December 31, 2018 Assets: Collateralized mortgage obligations $ 196,259 $ - $ 196,259 $ - Agency mortgage-backed securities 38,499 - 38,499 - Municipal securities 20,639 - 20,639 - Corporate bonds 59,274 - 56,205 3,069 Asset-backed securities 6,343 - 6,343 - Securities Available for Sale $ 321,014 $ - $ 317,945 $ 3,069 Mortgage Loans Held for Sale $ 20,887 $ - $ 20,887 $ - SBA Servicing Assets 4,785 - - 4,785 Interest Rate Lock Commitments 410 - 410 - Best Efforts Forward Loan Sales Commitments 5 - 5 - Mandatory Forward Loan Sales Commitments 10 - 10 - Liabilities: Interest Rate Lock Commitments - - - - Best Efforts Forward Loan Sales Commitments 138 - 138 - Mandatory Forward Loan Sales Commitments 230 - 230 - |
Schedule of Servicing Assets at Fair Value [Table Text Block] | Three Months Ended September 30, (dollars in thousands) 201 9 201 8 Beginning balance, July 1 st $ 4,593 $ 4,977 Additions 272 297 Fair value adjustments (361 ) (419 ) Ending balance, September 30 th $ 4,504 $ 4,855 Nine Months Ended September 30, (dollars in thousands) 2019 201 8 Beginning balance, January 1 st $ 4,785 $ 5,243 Additions 825 864 Fair value adjustments (1,106 ) (1,252 ) Ending balance, September 30 th $ 4,504 $ 4,855 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three Months Ended September 30 , 201 9 Three Months Ended September 30 , 201 8 Level 3 Investments Only (dollars in thousands) Trust Preferred Securities Corporate Bonds Trust Preferred Securities Corporate Bonds Balance, July 1 st $ - $ 2,999 $ 547 $ 3,083 Unrealized gains (losses) - (108 ) - 102 Proceeds from sales - - - - Realized losses - - - - Balance, September 30 th $ - $ 2,891 $ 547 $ 3,185 Nine Months Ended September 30, 201 9 Nine Months Ended September 30, 201 8 Level 3 Investments Only (dollars in thousands) Trust Preferred Securities Corporate Bonds Trust Preferred Securities Corporate Bonds Balance, January 1 st $ - $ 3,069 $ 489 $ 3,086 Unrealized gains (losses) - (178 ) 58 99 Proceeds from sales - - - - Realized losses - - - - Balance, September 30 th $ - $ 2,891 $ 547 $ 3,185 |
Fair Value Measurements, Nonrecurring [Table Text Block] | (dollars in thousands) Total (Level 1) Quoted Prices in Active Markets for Identical Assets (Level 2) Significant Other Observable Inputs (Level 3) Significant Unobservable Inputs September 30, 2019 Impaired loans $ 5,823 $ - $ - $ 5,823 Other real estate owned 5,726 - - 5,726 December 31, 2018 Impaired loans $ 5,955 $ - $ - $ 5,955 Other real estate owned 1,114 - - 1,114 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Quantitative Information about Level 3 Fair Value Measurements Asset Description Fair Value Valuation Technique Unobservable Input Range (Weighted Average) September 30, 2019 Corporate bonds $ 2,891 Discounted Cash Flows Discount Rate (7.14%) SBA servicing assets $ 4,504 Discounted Cash Flows Conditional Prepayment Rate (13.28%) Discount Rate (11.00%) Impaired loans $ 5,823 Appraised Value of Collateral (1) Liquidation expenses (2) 9% - 20% (12%) (3) Other real estate owned $ 5,726 Appraised Value of Collateral (1) Liquidation expenses (2) 7% - 25% (14%) (3) Sales Price Liquidation expenses (2) (22%) (3) December 31, 2018 Corporate bonds $ 3,069 Discounted Cash Flows Discount Rate (8.24%) SBA servicing assets $ 4,785 Discounted Cash Flows Conditional Prepayment Rate (10.31%) Discount Rate (11.50%) Impaired loans $ 5,955 Appraised Value of Collateral (1) Liquidation expenses (2) 11% - 24% (13%) (3) Other real estate owned $ 1,114 Appraised Value of Collateral (1) Liquidation expenses (2) (7%) (3) |
Fair Value Option, Disclosures [Table Text Block] | (dollars in thousands) September 30, 2019 December 31, 2018 Carrying Amount $ 18,734 $ 20,887 Aggregate Unpaid Principal Balance $ 18,203 $ 20,071 Excess Carrying Amount Over Aggregate Unpaid Principal Balance $ 531 $ 816 |
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets [Table Text Block] | (dollars in thousands) September 30, 2019 December 31, 2018 SBA Servicing Asset Fair Value of SBA Servicing Asset $ 4,504 $ 4,785 Composition of SBA Loans Serviced for Others Fixed-rate SBA loans 2 % 2 % Adjustable-rate SBA loans 98 % 98 % Total 100 % 100 % Weighted Average Remaining Term (years) 20.7 20.4 Prepayment Speed 13.28 % 10.31 % Effect on fair value of a 10% increase $ (175 ) $ (170 ) Effect on fair value of a 20% increase (338 ) (330 ) Weighted Average Discount Rate 11.00 % 11.50 % Effect on fair value of a 10% increase $ (160 ) $ (186 ) Effect on fair value of a 20% increase (309 ) (359 ) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at September 30, 2019 (dollars in thousands) Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance Sheet Data Financial assets: Cash and cash equivalents $ 201,477 $ 201,477 $ 201,477 $ - $ - Investment securities available for sale 379,962 379,962 - 377,071 2,891 Investment securities held to maturity 687,425 699,054 - 699,054 - Restricted stock 2,371 2,371 - 2,371 - Loans held for sale 21,210 21,210 - 18,734 2,476 Loans receivable, net 1,560,913 1,530,738 - - 1,530,738 SBA servicing assets 4,504 4,504 - - 4,504 Accrued interest receivable 9,277 9,277 - 9,277 - Interest rate lock commitments 506 506 - 506 - Best efforts forward loan sales commitments 43 43 - 43 - Mandatory forward loan sales commitments 27 27 - 27 - Financial liabilities: Deposits Demand, savings and money market $ 2,522,829 $ 2,522,829 $ - $ 2,522,829 $ - Time 217,203 217,325 - 217,325 - Subordinated debt 11,263 8,109 - - 8,109 Accrued interest payable 1,655 1,655 - 1,655 - Interest rate lock commitments 2 2 - 2 - Best efforts forward loan sales commitments 126 126 - 126 - Mandatory forward loan sales commitments 79 79 - 79 - Off-Balance Sheet Data Commitments to extend credit - - - - - Standby letters-of-credit - - - - - Fair Value Measurements at December 31, 2018 (dollars in thousands) Carrying Amount Fair Value Quoted Prices in Active Markets for I dentical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance Sheet Data Financial assets: Cash and cash equivalents $ 72,473 $ 72,473 $ 72,473 $ - $ - Investment securities available for sale 321,014 321,014 - 317,945 3,069 Investment securities held to maturity 761,563 747,323 - 747,323 - Restricted stock 5,754 5,754 - 5,754 - Loans held for sale 26,291 26,291 - 20,887 5,404 Loans receivable, net 1,427,983 1,410,945 - - 1,410,945 SBA servicing assets 4,785 4,785 - - 4,785 Accrued interest receivable 9,025 9,025 - 9,025 - Interest rate lock commitments 410 410 - 410 - Best efforts forward loan sales commitments 5 5 - 5 - Mandatory forward loan sales commitments 10 10 - 10 - Financial liabilities: Deposits Demand, savings and money market $ 2,238,610 $ 2,238,610 $ - $ 2,238,610 $ - Time 154,257 152,989 - 152,989 - Subordinated debt 11,259 8,279 - - 8,279 Accrued interest payable 558 558 - 558 - Interest rate lock commitments - - - - - Best efforts forward loan sales commitments 138 138 - 138 - Mandatory forward loan sales commitments 230 230 - 230 - Off-Balance Sheet Data Commitments to extend credit - - - - - Standby letters-of-credit - - - - - |
Note 8 - Changes in Accumulat_2
Note 8 - Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Gains (Losses) on Available- For-Sale Securities Unrealized Holding Losses on Securities Transferred From Available-For-Sale To Held-To-Maturity Total (dollars in thousands) Balance January 1, 2019 $ (4,736 ) $ (7,191 ) $ (11,927 ) Unrealized gain on securities 4,456 - 4,456 Amounts reclassified from accumulated other comprehensive income to net income (2) (894 ) 841 (53 ) Net current-period other comprehensive income 3,562 841 4,403 Total change in accumulated other comprehensive income 3,562 841 4,403 Balance September 30, 2019 $ (1,174 ) $ (6,350 ) $ (7,524 ) Balance January 1, 2018 $ (7,150 ) $ (359 ) $ (7,509 ) Reclassification due to the adoption of ASU 2018-02 (1,562 ) (78 ) (1,640 ) Unrealized loss on securities (9,536 ) - (9,536 ) Amounts reclassified from accumulated other comprehensive income to net income (2) 1 83 84 Net current-period other comprehensive income (loss) (9,535 ) 83 (9,452 ) Total change in accumulated other comprehensive income (loss) (11,097 ) 5 (11,092 ) Balance September 30, 2018 $ (18,247 ) $ (354 ) $ (18,601 ) Balance January 1, 2018 $ (7,150 ) $ (359 ) $ (7,509 ) Reclassification due to the adoption of ASU 2018-02 (1,562 ) (78 ) (1,640 ) Unrealized gain on securities 3,927 - 3,927 Net unrealized holding losses on securities transferred from available-for-sale to held-to-maturity - (6,855 ) (6,855 ) Amounts reclassified from accumulated other comprehensive income to net income (2) 49 101 150 Net current-period other comprehensive income (loss) 3,976 (6,754 ) (2,778 ) Total change in accumulated other comprehensive income (loss) 2,414 (6,832 ) (4,418 ) Balance December 31, 2018 $ (4,736 ) $ (7,191 ) $ (11,927 ) |
Note 9 - Goodwill and Other I_2
Note 9 - Goodwill and Other Intangibles (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Three Months Ended September 30, (dollars in thousands) 2019 2018 Balance, July 1st $ 5,011 $ 5,011 Additions/Adjustments - - Amortization - - Balance, September 30th $ 5,011 $ 5,011 Amortization Period (in years) Indefinite Indefinite Nine Months Ended September 30, (dollars in thousands) 2019 2018 Balance, January 1st $ 5,011 $ 5,011 Additions/Adjustments - - Amortization - - Balance, September 30 th $ 5,011 $ 5,011 Amortization Period (in years) Indefinite Indefinite |
Note 10 - Derivatives and Ris_2
Note 10 - Derivatives and Risk Management Activities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Position [Table Text Block] | September 3 0 , 2019 Balance Sheet Presentation Fair Value Notional Amount Asset derivatives: IRLCs Other Assets $ 506 $ 29,205 Best efforts forward loan sales commitments Other Assets 43 10,622 Mandatory forward loan sales commitments Other Assets 27 6,948 Liability derivatives: IRLCs Other Liabilities $ 2 $ 810 Best efforts forward loan sales commitments Other Liabilities 126 19,393 Mandatory forward loan sales commitments Other Liabilities 79 11,132 December 31, 2018 Balance Sheet Presentation Fair Value Notional Amount Asset derivatives: IRLCs Other Assets $ 410 $ 16,966 Best efforts forward loan sales commitments Other Assets 5 1,639 Mandatory forward loan sales commitments Other Assets 10 865 Liability derivatives: IRLCs Other Liabilities $ - $ - Best efforts forward loan sales commitments Other Liabilities 138 15,327 Mandatory forward loan sales commitments Other Liabilities 230 18,980 |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance [Table Text Block] | <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 42%;"> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">Statement</div><div style="display: inline; font-weight: bold;"> of Operations</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">Presentation</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 2%;"> </td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0); width: 1%; padding: 0px;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September</div><div style="display: inline; font-weight: bold;"> 30, 201</div><div style="display: inline; font-weight: bold;">9</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gain/(Loss)</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0); width: 1%; padding: 0px;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine</div><div style="display: inline; font-weight: bold;"> Months Ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September</div><div style="display: inline; font-weight: bold;"> 30, 201</div><div style="display: inline; font-weight: bold;">9</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gain/(Loss)</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Asset derivatives:</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 27%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 2%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">IRLCs</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(201</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">96</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 8.1pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:8.1pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-8.1pt;">Best efforts forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Mandatory forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="width: 42%;"> </td> <td style="width: 27%;"> </td> <td style="width: 2%;"> </td> <td style="width: 1%;"> </td> <td style="width: 12%;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%;"> </td> <td style="width: 12%;"> </td> <td style="width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Liability derivatives:</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 27%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 2%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">IRLCs</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 8.1pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:8.1pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-8.1pt;">Best efforts forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">81</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Mandatory forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">148</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">151</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 42%;"> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 26%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">Statement</div><div style="display: inline; font-weight: bold;"> of Operations</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">Presentation</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 2%;"> </td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0); width: 1%; padding: 0px;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September</div><div style="display: inline; font-weight: bold;"> 30, 201</div><div style="display: inline; font-weight: bold;">8</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gain/(Loss)</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0); width: 1%; padding: 0px;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine</div><div style="display: inline; font-weight: bold;"> Months Ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September</div><div style="display: inline; font-weight: bold;"> 30, 201</div><div style="display: inline; font-weight: bold;">8</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gain/(Loss)</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="width: 42%;"> </td> <td style="width: 26%;"> </td> <td style="width: 2%;"> </td> <td style="width: 1%;"> </td> <td style="width: 12%;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%;"> </td> <td style="width: 12%;"> </td> <td style="width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Asset derivatives:</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 26%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 2%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">IRLCs</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 26%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(297</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 8.1pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:8.1pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-8.1pt;">Best efforts forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 26%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Mandatory forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 26%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; fon" id="sjs-B5"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 42%;"> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">Statement</div><div style="display: inline; font-weight: bold;"> of Operations</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">Presentation</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 2%;"> </td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0); width: 1%; padding: 0px;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September</div><div style="display: inline; font-weight: bold;"> 30, 201</div><div style="display: inline; font-weight: bold;">9</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gain/(Loss)</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0); width: 1%; padding: 0px;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine</div><div style="display: inline; font-weight: bold;"> Months Ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September</div><div style="display: inline; font-weight: bold;"> 30, 201</div><div style="display: inline; font-weight: bold;">9</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gain/(Loss)</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Asset derivatives:</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 27%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 2%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">IRLCs</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(201</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">96</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 8.1pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:8.1pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-8.1pt;">Best efforts forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Mandatory forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="width: 42%;"> </td> <td style="width: 27%;"> </td> <td style="width: 2%;"> </td> <td style="width: 1%;"> </td> <td style="width: 12%;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%;"> </td> <td style="width: 12%;"> </td> <td style="width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Liability derivatives:</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 27%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 2%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">IRLCs</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 8.1pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:8.1pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-8.1pt;">Best efforts forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">81</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Mandatory forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 27%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">148</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">151</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 42%;"> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 26%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">Statement</div><div style="display: inline; font-weight: bold;"> of Operations</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">Presentation</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 2%;"> </td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0); width: 1%; padding: 0px;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September</div><div style="display: inline; font-weight: bold;"> 30, 201</div><div style="display: inline; font-weight: bold;">8</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gain/(Loss)</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0); width: 1%; padding: 0px;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine</div><div style="display: inline; font-weight: bold;"> Months Ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September</div><div style="display: inline; font-weight: bold;"> 30, 201</div><div style="display: inline; font-weight: bold;">8</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gain/(Loss)</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="width: 42%;"> </td> <td style="width: 26%;"> </td> <td style="width: 2%;"> </td> <td style="width: 1%;"> </td> <td style="width: 12%;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%;"> </td> <td style="width: 12%;"> </td> <td style="width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Asset derivatives:</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 26%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 2%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 12%;"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">IRLCs</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 26%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(297</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 8.1pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:8.1pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-8.1pt;">Best efforts forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 26%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 42%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Mandatory forward loan sales commitments</div> </td> <td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; width: 26%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mortgage banking income</div></div> </td> <td style="width: 2%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; fon |
Note 11 - Revenue Recognition (
Note 11 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, (dollars in thousands) 201 9 201 8 Non-interest income In-scope of Topic 606 Service charges on deposit accounts $ 1,990 $ 1,386 Other non-interest income 46 29 Non-interest income (in-scope of Topic 606) 2,036 1,415 Non-interest income (out-of-scope of Topic 606) 4,518 3,716 Total non-interest income $ 6,554 $ 5,131 Nine Months Ended September 30, (dollars in thousands) 201 9 201 8 Non-interest income In-scope of Topic 606 Service charges on deposit accounts $ 5,450 $ 3,887 Other non-interest income 175 107 Non-interest income (in-scope of Topic 606) 5,625 3,994 Non-interest income (out-of-scope of Topic 606) 12,900 11,440 Total non-interest income $ 18,525 $ 15,434 |
Note 12 - Leases (Tables)
Note 12 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended September 3 0 , 2019 Nine Months Ended September 3 0 , 2019 (dollars in thousands) Operating lease cost $ 1,890 $ 4,920 Sublease income (80 ) (241 ) Total lease cost $ 1,810 $ 4,679 Three Months Ended September 3 0 , 2019 Nine Months Ended September 3 0 , 2019 (dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,706 $ 3,755 Non-cash investing and financing activities Additions to Operating leases – right of use asset New operating lease liability obligation $ 101 $ 72,457 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | September 3 0 , 2019 (dollars in thousands) Operating lease payments due: Within one year $ 6,962 One to three years 11,806 Three to five years 10,106 More than five years 72,030 Total undiscounted cash flows 100,904 Discount on cash flows (31,258 ) Total operating lease liability obligations $ 69,646 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) | Sep. 30, 2019 |
Number of Wholly Owned Subsidiary | 1 |
Number of Unconsolidated Subsidiaries | 2 |
Number of Trust Preferred Securities Issued | 2 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | Jan. 01, 2018 | Apr. 29, 2014 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Jan. 01, 2019 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | [1] | 0.00% | 0.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Period for Determining Forfeiture Rate | 3 years | 3 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 842,898 | 753,864 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 5,007,725 | 3,841,275 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 780,000 | $ 6,700,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 2,645,960 | 1,905,112 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 753,000 | $ 5,400,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 53,550 | 174,225 | |||||||
Proceeds from Stock Options Exercised | $ 261,143 | $ 668,194 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 142,875 | 70,125 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Options Forfeited, Weighted Average Grant Date Fair Value, Amount | $ 381,811 | $ 215,201 | |||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | 4,183,148 | 3,886,278 | |||||||
Operating Lease, Right-of-Use Asset | 65,860,000 | ||||||||
Operating Lease, Liability, Total | $ 69,646,000 | ||||||||
Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income | |||||||||
Retained Earnings [Member] | |||||||||
Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income | $ 1,600,000 | 1,640,000 | |||||||
AOCI Attributable to Parent [Member] | |||||||||
Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income | $ (1,600,000) | $ (1,640,000) | [2] | $ (1,640,000) | [2] | ||||
Accounting Standards Update 2016-02 [Member] | |||||||||
Operating Lease, Right-of-Use Asset | $ 34,200,000 | ||||||||
Operating Lease, Liability, Total | $ 35,100,000 | ||||||||
Minimum [Member] | |||||||||
Treasury Bond Term On Which Risk Free Interest Rate is Based | 5 years | ||||||||
Maximum [Member] | |||||||||
Treasury Bond Term On Which Risk Free Interest Rate is Based | 7 years | ||||||||
The 2005 Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,500,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||
The 2005 Plan [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||
The 2005 Plan [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||
The 2014 Republic First Bancorp, Inc. Equity Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 6,300,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,600,000 | ||||||||
Minimum Percentage of Outstanding Shares as Annual Adjustment | 10.00% | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,300,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value, Amount | $ 2,900,495 | ||||||||
Stock Options and Restricted Stock Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||
Stock Options and Restricted Stock Plan [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||
Stock Options and Restricted Stock Plan [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||
[1] | A dividend yield of 0.0% is utilized because cash dividends have never been paid. | ||||||||
[2] | All amounts are net of tax. Amounts in parentheses indicate reductions to other comprehensive income. |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Valuation Assumptions (Details) | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | ||
Dividend yield | [1] | 0.00% | 0.00% |
Expected volatility | [2] | 28.81% | 28.22% |
Expected life(4) (years) (Year) | [3] | 6 years 91 days | 6 years 91 days |
Assumed forfeiture rate | [4] | 4.00% | 4.00% |
Minimum [Member] | |||
Risk-free interest rate | [5] | 1.42% | 2.35% |
Maximum [Member] | |||
Risk-free interest rate | [5] | 2.78% | 2.96% |
[1] | A dividend yield of 0.0% is utilized because cash dividends have never been paid. | ||
[2] | The expected volatility was based on the historical volatility of the Company's common stock price as adjusted for certain historical periods of extraordinary volatility in order to provide a basis for a reasonable estimate of fair value. | ||
[3] | The expected life reflects a 1 to 4 year vesting period, the maximum ten year term and review of historical behavior. | ||
[4] | Forfeiture rate is determined through forfeited and expired options as a percentage of options granted over the current three year period. | ||
[5] | The risk-free interest rate is based on the five to seven year Treasury bond. |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Stock-based Compensation (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Stock based compensation expense recognized | $ 2,005,000 | $ 1,584,000 |
Number of unvested stock options (in shares) | 2,361,765 | 1,936,163 |
Fair value of unvested stock options | $ 6,095,468 | $ 5,499,104 |
Amount remaining to be recognized as expense | $ 4,183,148 | $ 3,886,278 |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Calculation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net income (loss) -basic and diluted | $ (1,822) | $ 2,322 | $ (1,015) | $ 6,470 |
Weighted average shares outstanding (in shares) | 58,843 | 58,774 | 58,830 | 58,213 |
Net income (loss) per share – basic (in dollars per share) | $ (0.03) | $ 0.04 | $ (0.02) | $ 0.11 |
Weighted average shares outstanding (including dilutive CSEs) (in shares) | 58,843 | 59,774 | 58,830 | 59,338 |
Net income (loss) per share – diluted (in dollars per share) | $ (0.03) | $ 0.04 | $ (0.02) | $ 0.11 |
Note 2 - Summary of Significa_7
Note 2 - Summary of Significant Accounting Policies - Anti-dilutive Securities (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Share-based Payment Arrangement, Option [Member] | ||||
Anti-dilutive securities (in shares) | 2,845 | 2,720 |
Note 4 - Segment Reporting (Det
Note 4 - Segment Reporting (Details Textual) | 9 Months Ended |
Sep. 30, 2019 | |
Number of Reportable Segments | 1 |
Note 5 - Investment Securitie_2
Note 5 - Investment Securities (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses | $ 0 | $ 0 | $ 0 | $ 0 | |
Securities, Continuous Loss Position, Accumulated Loss | 5,400,000 | 5,400,000 | $ 21,300,000 | ||
Securities, Continuous Unrealized Loss Position, Fair Value | $ 297,000,000 | $ 297,000,000 | $ 674,300,000 | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | 8 | 8 | |||
Proceeds from Sale of Available-for-sale Securities, Total | $ 11,500,000 | $ 0 | $ 54,742,000 | 5,713,000 | |
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | 520,000 | 1,100,000 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax, Total | $ 132,000 | 280,000 | |||
Debt Securities, Available-for-sale, Realized Gain | 1,200,000 | ||||
Debt Securities, Available-for-sale, Realized Loss | $ 67,000 | $ 1,000 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Subprime [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | AltA [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
US Government Agencies Debt Securities [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | 4 | 4 | |||
Collateralized Mortgage Obligations [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | 29 | 29 | |||
Collateralized Mortgage Obligations [Member] | Subprime [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
Collateralized Mortgage Obligations [Member] | AltA [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
Collateralized Mortgage Backed Securities [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | 17 | 17 | |||
US States and Political Subdivisions Debt Securities [Member] | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | 0 | 0 |
Note 5 - Investment Securitie_3
Note 5 - Investment Securities - Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Total, available for sale, amortized cost | $ 381,296 | $ 326,740 |
Investment securities available for sale, gross unrealized gains | 2,776 | 723 |
Investment securities available for sale, gross unrealized losses | (4,110) | (6,449) |
Investment securities available for sale, at fair value | 379,962 | 321,014 |
Investment securities available for sale, at amortized cost | 381,296 | 326,740 |
Investment securities held to maturity, at amortized cost | 687,425 | 761,563 |
Investment securities held to maturity, gross unrealized gains | 12,922 | 570 |
Investment securities held to maturity, gross unrealized losses | (1,293) | (14,810) |
Investment securities held to maturity, at fair value | 699,054 | 747,323 |
US Government Agencies Debt Securities [Member] | ||
Total, available for sale, amortized cost | 29,404 | |
Investment securities available for sale, gross unrealized gains | 16 | |
Investment securities available for sale, gross unrealized losses | ||
Investment securities available for sale, at fair value | 29,420 | |
Investment securities available for sale, at amortized cost | 29,404 | |
Investment securities held to maturity, at amortized cost | 98,481 | 107,390 |
Investment securities held to maturity, gross unrealized gains | 1,192 | |
Investment securities held to maturity, gross unrealized losses | (97) | (3,772) |
Investment securities held to maturity, at fair value | 99,576 | 103,618 |
Collateralized Mortgage Obligations [Member] | ||
Total, available for sale, amortized cost | 254,439 | 197,812 |
Investment securities available for sale, gross unrealized gains | 2,641 | 567 |
Investment securities available for sale, gross unrealized losses | (691) | (2,120) |
Investment securities available for sale, at fair value | 256,389 | 196,259 |
Investment securities available for sale, at amortized cost | 254,439 | 197,812 |
Investment securities held to maturity, at amortized cost | 448,807 | 500,690 |
Investment securities held to maturity, gross unrealized gains | 9,962 | 570 |
Investment securities held to maturity, gross unrealized losses | (620) | (5,793) |
Investment securities held to maturity, at fair value | 458,149 | 495,467 |
Agency Mortgage-backed Securities [Member] | ||
Total, available for sale, amortized cost | 23,889 | 39,105 |
Investment securities available for sale, gross unrealized gains | 93 | 5 |
Investment securities available for sale, gross unrealized losses | (81) | (611) |
Investment securities available for sale, at fair value | 23,901 | 38,499 |
Investment securities available for sale, at amortized cost | 23,889 | 39,105 |
Investment securities held to maturity, at amortized cost | 140,137 | 153,483 |
Investment securities held to maturity, gross unrealized gains | 1,768 | |
Investment securities held to maturity, gross unrealized losses | (576) | (5,245) |
Investment securities held to maturity, at fair value | 141,329 | 148,238 |
US States and Political Subdivisions Debt Securities [Member] | ||
Total, available for sale, amortized cost | 4,065 | 20,807 |
Investment securities available for sale, gross unrealized gains | 17 | 64 |
Investment securities available for sale, gross unrealized losses | (232) | |
Investment securities available for sale, at fair value | 4,082 | 20,639 |
Investment securities available for sale, at amortized cost | 4,065 | 20,807 |
Corporate Debt Securities [Member] | ||
Total, available for sale, amortized cost | 69,499 | 62,583 |
Investment securities available for sale, gross unrealized gains | 9 | 87 |
Investment securities available for sale, gross unrealized losses | (3,338) | (3,396) |
Investment securities available for sale, at fair value | 66,170 | 59,274 |
Investment securities available for sale, at amortized cost | $ 69,499 | 62,583 |
Asset-backed Securities [Member] | ||
Total, available for sale, amortized cost | 6,433 | |
Investment securities available for sale, gross unrealized gains | ||
Investment securities available for sale, gross unrealized losses | (90) | |
Investment securities available for sale, at fair value | 6,343 | |
Investment securities available for sale, at amortized cost | $ 6,433 |
Note 5 - Investment Securitie_4
Note 5 - Investment Securities - Investment Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Due in 1 year or less, available for sale, amortized cost | $ 3,439 | |
Due in 1 year or less, available for sale, fair value | 3,448 | |
Due in 1 year or less, held to maturity, amortized cost | ||
Due in 1 year or less, held to maturity, fair value | ||
After 1 year to 5 years, available for sale, amortized cost | 20,839 | |
After 1 year to 5 years, available for sale, fair value | 20,855 | |
After 1 year to 5 years, held to maturity, amortized cost | 11,487 | |
After 1 year to 5 years, held to maturity, fair value | 11,617 | |
After 5 years to 10 years, available for sale, amortized cost | 75,690 | |
After 5 years to 10 years, available for sale, fair value | 72,478 | |
After 5 years to 10 years, held to maturity, amortized cost | 86,994 | |
After 5 years to 10 years, held to maturity, fair value | 87,959 | |
After 10 years, available for sale, amortized cost | 3,000 | |
After 10 years, available for sale, fair value | 2,891 | |
After 10 years, held to maturity, amortized cost | ||
After 10 years, held to maturity, fair value | ||
Total, available for sale, amortized cost | 381,296 | $ 326,740 |
Total, available for sale, fair value | 379,962 | 321,014 |
Total, held to maturity, amortized cost | 687,425 | 761,563 |
Total, held to maturity, fair value | 699,054 | 747,323 |
Collateralized Mortgage Obligations [Member] | ||
No specific maturity date, available for sale, amortized cost | 254,439 | |
No specific maturity date, available for sale, fair value | 256,389 | |
No specific maturity date, held to maturity, amortized cost | 448,807 | |
No specific maturity date, held to maturity, fair value | 458,149 | |
Total, available for sale, amortized cost | 254,439 | 197,812 |
Total, available for sale, fair value | 256,389 | 196,259 |
Total, held to maturity, amortized cost | 448,807 | 500,690 |
Total, held to maturity, fair value | 458,149 | $ 495,467 |
Collateralized Mortgage Backed Securities [Member] | ||
No specific maturity date, available for sale, amortized cost | 23,889 | |
No specific maturity date, available for sale, fair value | 23,901 | |
No specific maturity date, held to maturity, amortized cost | 140,137 | |
No specific maturity date, held to maturity, fair value | $ 141,329 |
Note 5 - Investment Securitie_5
Note 5 - Investment Securities - Credit-related Impairment Losses on Securities (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Balance | $ 274,000 | |||
Additional credit-related impairment loss on securities for which an other-than-temporary impairment was previously recognized | $ 0 | $ 0 | 0 | 0 |
Reductions for securities sold during the period | ||||
Balance | $ 274,000 | $ 274,000 |
Note 5 - Investment Securitie_6
Note 5 - Investment Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | $ 69,343 | $ 67,909 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 741 | 377 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 69,853 | 165,488 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 3,369 | 6,072 |
Available for sale securities in a continuous unrealized loss position, fair value | 139,196 | 233,397 |
Available for sale securities in a continuous unrealized loss position, unrealized losses | 4,110 | 6,449 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, fair value | 16,513 | 49,925 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 81 | 501 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, fair value | 141,324 | 390,977 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 1,212 | 14,309 |
Held to maturity securities in a continuous unrealized loss position, fair value | 157,837 | 440,902 |
Held to maturity securities in a continuous unrealized loss position, unrealized losses | 1,293 | 14,810 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | 55,237 | 58,883 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 623 | 270 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 9,339 | 83,377 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 68 | 1,850 |
Available for sale securities in a continuous unrealized loss position, fair value | 64,576 | 142,260 |
Available for sale securities in a continuous unrealized loss position, unrealized losses | 691 | 2,120 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, fair value | 2,575 | 44,574 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 11 | 475 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, fair value | 68,023 | 173,467 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 609 | 5,318 |
Held to maturity securities in a continuous unrealized loss position, fair value | 70,598 | 218,041 |
Held to maturity securities in a continuous unrealized loss position, unrealized losses | 620 | 5,793 |
US Government Agencies Debt Securities [Member] | ||
Held to maturity securities in a continuous unrealized loss position, less than 12 months, fair value | 13,938 | 5,351 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 70 | 26 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, fair value | 3,750 | 98,267 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 27 | 3,746 |
Held to maturity securities in a continuous unrealized loss position, fair value | 17,688 | 103,618 |
Held to maturity securities in a continuous unrealized loss position, unrealized losses | 97 | 3,772 |
Agency Mortgage-backed Securities [Member] | ||
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | 2,716 | 1,134 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 8 | 10 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 8,742 | 16,768 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 73 | 601 |
Available for sale securities in a continuous unrealized loss position, fair value | 11,458 | 17,902 |
Available for sale securities in a continuous unrealized loss position, unrealized losses | 81 | 611 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, fair value | ||
Held to maturity securities in a continuous unrealized loss position, less than 12 months, unrealized losses | ||
Held to maturity securities in a continuous unrealized loss position, 12 months or more, fair value | 69,551 | 119,243 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 576 | 5,245 |
Held to maturity securities in a continuous unrealized loss position, fair value | 69,551 | 119,243 |
Held to maturity securities in a continuous unrealized loss position, unrealized losses | 576 | 5,245 |
Corporate Debt Securities [Member] | ||
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | 11,390 | |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 110 | |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 51,772 | 53,189 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 3,228 | 3,396 |
Available for sale securities in a continuous unrealized loss position, fair value | 63,162 | 53,189 |
Available for sale securities in a continuous unrealized loss position, unrealized losses | $ 3,338 | 3,396 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | 1,549 | |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 7 | |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 12,154 | |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 225 | |
Available for sale securities in a continuous unrealized loss position, fair value | 13,703 | |
Available for sale securities in a continuous unrealized loss position, unrealized losses | 232 | |
Asset-backed Securities [Member] | ||
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | 6,343 | |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 90 | |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | ||
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | ||
Available for sale securities in a continuous unrealized loss position, fair value | 6,343 | |
Available for sale securities in a continuous unrealized loss position, unrealized losses | $ 90 |
Note 6 - Loans Receivable and_3
Note 6 - Loans Receivable and Allowance for Loan Losses (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 145,000 | $ 156,000 | $ 378,000 | $ 519,000 | |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 3 | ||
Number of Mortgage Loans in Process of Foreclosure | 1 | ||||
Mortgage Loans in Process of Foreclosure, Amount | $ 0 | ||||
Real Estate Acquired Through Foreclosure | $ 6,653,000 | $ 6,653,000 | 6,223,000 | ||
Residential Portfolio Segment [Member] | |||||
Real Estate Acquired Through Foreclosure | $ 0 | $ 0 | $ 0 |
Note 6 - Loans Receivable and_4
Note 6 - Loans Receivable and Allowance for Loan Losses - Gross Loans by Major Category (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans receivable | $ 1,569,121 | $ 1,436,614 |
Deferred costs (fees) | 259 | (16) |
Allowance for loan losses | (8,467) | (8,615) |
Net loans receivable | 1,560,913 | 1,427,983 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 570,327 | 515,738 |
Construction and Land Development Portfolio Segment [Member] | ||
Loans receivable | 109,582 | 121,042 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 187,837 | 200,423 |
Owner Occupied Real Estate [Member] | ||
Loans receivable | 397,843 | 367,895 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 98,034 | 91,152 |
Residential Portfolio Segment [Member] | ||
Loans receivable | $ 205,498 | $ 140,364 |
Note 6 - Loans Receivable and_5
Note 6 - Loans Receivable and Allowance for Loan Losses - Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Dec. 31, 2018 | |
Beginning balance | $ 8,056 | $ 7,566 | $ 8,615 | $ 8,599 | ||
Charge-offs | (101) | (1) | (1,119) | (2,364) | ||
Recoveries | 62 | 19 | 221 | 149 | ||
Provision for loan losses | 450 | 500 | 750 | 1,700 | ||
Ending balance | 8,467 | 8,084 | 8,467 | 8,084 | ||
Allowance for loan losses, individually evaluated for impairment | $ 588 | $ 1,473 | ||||
Allowance for loan losses, collectively evaluated for impairment | 7,879 | 7,142 | ||||
Total allowance for loan losses | 8,056 | 7,566 | 8,467 | 8,084 | 8,467 | 8,615 |
Loans evaluated individually | 20,126 | 18,030 | ||||
Loans evaluated collectively | 1,548,995 | 1,418,584 | ||||
Total loans receivable | 1,569,121 | 1,436,614 | ||||
Loans receivable: | ||||||
Loans evaluated individually | 20,126 | 18,030 | ||||
Loans evaluated collectively | 1,548,995 | 1,418,584 | ||||
Total loans receivable | 1,569,121 | 1,436,614 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Beginning balance | 2,673 | 2,039 | 2,462 | 3,774 | ||
Charge-offs | (1,535) | |||||
Recoveries | 17 | 50 | ||||
Provision for loan losses | 198 | 202 | 409 | (31) | ||
Ending balance | 2,871 | 2,258 | 2,871 | 2,258 | ||
Allowance for loan losses, individually evaluated for impairment | 262 | 295 | ||||
Allowance for loan losses, collectively evaluated for impairment | 2,609 | 2,167 | ||||
Total allowance for loan losses | 2,673 | 2,039 | 2,871 | 2,258 | 2,871 | 2,462 |
Loans evaluated individually | 11,257 | 10,947 | ||||
Loans evaluated collectively | 559,070 | 504,791 | ||||
Total loans receivable | 570,327 | 515,738 | ||||
Loans receivable: | ||||||
Loans evaluated individually | 11,257 | 10,947 | ||||
Loans evaluated collectively | 559,070 | 504,791 | ||||
Total loans receivable | 570,327 | 515,738 | ||||
Construction and Land Development Portfolio Segment [Member] | ||||||
Beginning balance | 631 | 772 | 777 | 725 | ||
Charge-offs | ||||||
Recoveries | ||||||
Provision for loan losses | (10) | 34 | (156) | 81 | ||
Ending balance | 621 | 806 | 621 | 806 | ||
Allowance for loan losses, individually evaluated for impairment | ||||||
Allowance for loan losses, collectively evaluated for impairment | 621 | 777 | ||||
Total allowance for loan losses | 631 | 772 | 621 | 806 | 621 | 777 |
Loans evaluated individually | ||||||
Loans evaluated collectively | 109,582 | 121,042 | ||||
Total loans receivable | 109,582 | 121,042 | ||||
Loans receivable: | ||||||
Loans evaluated individually | ||||||
Loans evaluated collectively | 109,582 | 121,042 | ||||
Total loans receivable | 109,582 | 121,042 | ||||
Commercial Portfolio Segment [Member] | ||||||
Beginning balance | 875 | 1,449 | 1,754 | 1,317 | ||
Charge-offs | (72) | (1,002) | (151) | |||
Recoveries | 59 | 1 | 213 | 77 | ||
Provision for loan losses | (79) | 193 | (182) | 400 | ||
Ending balance | 783 | 1,643 | 783 | 1,643 | ||
Allowance for loan losses, individually evaluated for impairment | 35 | 867 | ||||
Allowance for loan losses, collectively evaluated for impairment | 748 | 887 | ||||
Total allowance for loan losses | 875 | 1,449 | 783 | 1,643 | 783 | 1,754 |
Loans evaluated individually | 3,608 | 3,662 | ||||
Loans evaluated collectively | 184,229 | 196,761 | ||||
Total loans receivable | 187,837 | 200,423 | ||||
Loans receivable: | ||||||
Loans evaluated individually | 3,608 | 3,662 | ||||
Loans evaluated collectively | 184,229 | 196,761 | ||||
Total loans receivable | 187,837 | 200,423 | ||||
Owner Occupied Real Estate [Member] | ||||||
Beginning balance | 2,158 | 1,856 | 2,033 | 1,737 | ||
Charge-offs | (465) | |||||
Recoveries | 1 | 1 | 20 | |||
Provision for loan losses | 31 | 156 | 156 | 720 | ||
Ending balance | 2,190 | 2,012 | 2,190 | 2,012 | ||
Allowance for loan losses, individually evaluated for impairment | 291 | 217 | ||||
Allowance for loan losses, collectively evaluated for impairment | 1,899 | 1,816 | ||||
Total allowance for loan losses | 2,158 | 1,856 | 2,190 | 2,012 | 2,190 | 2,033 |
Loans evaluated individually | 3,532 | 2,560 | ||||
Loans evaluated collectively | 394,311 | 365,335 | ||||
Total loans receivable | 397,843 | 367,895 | ||||
Loans receivable: | ||||||
Loans evaluated individually | 3,532 | 2,560 | ||||
Loans evaluated collectively | 394,311 | 365,335 | ||||
Total loans receivable | 397,843 | 367,895 | ||||
Consumer Portfolio Segment [Member] | ||||||
Beginning balance | 562 | 509 | 577 | 573 | ||
Charge-offs | (29) | (1) | (117) | (213) | ||
Recoveries | 2 | 1 | 7 | 2 | ||
Provision for loan losses | 36 | 38 | 104 | 185 | ||
Ending balance | 571 | 547 | 571 | 547 | ||
Allowance for loan losses, individually evaluated for impairment | 94 | |||||
Allowance for loan losses, collectively evaluated for impairment | 571 | 483 | ||||
Total allowance for loan losses | 562 | 509 | 571 | 547 | 571 | 577 |
Loans evaluated individually | 961 | 861 | ||||
Loans evaluated collectively | 97,073 | 90,291 | ||||
Total loans receivable | 98,034 | 91,152 | ||||
Loans receivable: | ||||||
Loans evaluated individually | 961 | 861 | ||||
Loans evaluated collectively | 97,073 | 90,291 | ||||
Total loans receivable | 98,034 | 91,152 | ||||
Residential Portfolio Segment [Member] | ||||||
Beginning balance | 1,124 | 638 | 894 | 392 | ||
Charge-offs | ||||||
Recoveries | ||||||
Provision for loan losses | 205 | 103 | 435 | 349 | ||
Ending balance | 1,329 | 741 | 1,329 | 741 | ||
Allowance for loan losses, individually evaluated for impairment | ||||||
Allowance for loan losses, collectively evaluated for impairment | 1,329 | 894 | ||||
Total allowance for loan losses | 1,124 | 638 | 1,329 | 741 | 1,329 | 894 |
Loans evaluated individually | 768 | |||||
Loans evaluated collectively | 204,730 | 140,364 | ||||
Total loans receivable | 205,498 | 140,364 | ||||
Loans receivable: | ||||||
Loans evaluated individually | 768 | |||||
Loans evaluated collectively | 204,730 | 140,364 | ||||
Total loans receivable | 205,498 | 140,364 | ||||
Unallocated Financing Receivables [Member] | ||||||
Beginning balance | 33 | 303 | 118 | 81 | ||
Charge-offs | ||||||
Recoveries | ||||||
Provision for loan losses | 69 | (226) | (16) | (4) | ||
Ending balance | 102 | 77 | 102 | 77 | ||
Allowance for loan losses, individually evaluated for impairment | ||||||
Allowance for loan losses, collectively evaluated for impairment | 102 | 118 | ||||
Total allowance for loan losses | $ 33 | $ 303 | $ 102 | $ 77 | 102 | 118 |
Loans evaluated individually | ||||||
Loans evaluated collectively | ||||||
Total loans receivable | ||||||
Loans receivable: | ||||||
Loans evaluated individually | ||||||
Loans evaluated collectively | ||||||
Total loans receivable |
Note 6 - Loans Receivable and_6
Note 6 - Loans Receivable and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
With no related allowance - Recorded investment | $ 13,976 | $ 10,602 |
With no related allowance - Unpaid principal balance | 17,785 | 14,850 |
With related allowance - Recorded investment | 6,150 | 7,428 |
With related allowance - Unpaid principal balance | 6,687 | 8,555 |
Related allowance | 588 | 1,473 |
Recorded investment | 20,126 | 18,030 |
Unpaid principal balance | 24,472 | 23,405 |
Commercial Real Estate Portfolio Segment [Member] | ||
With no related allowance - Recorded investment | 7,243 | 6,332 |
With no related allowance - Unpaid principal balance | 7,248 | 6,337 |
With related allowance - Recorded investment | 4,014 | 4,615 |
With related allowance - Unpaid principal balance | 4,536 | 5,498 |
Related allowance | 262 | 295 |
Recorded investment | 11,257 | 10,947 |
Unpaid principal balance | 11,784 | 11,835 |
Construction and Land Development Portfolio Segment [Member] | ||
With no related allowance - Recorded investment | ||
With no related allowance - Unpaid principal balance | ||
With related allowance - Recorded investment | ||
With related allowance - Unpaid principal balance | ||
Related allowance | ||
Recorded investment | ||
Unpaid principal balance | ||
Commercial Portfolio Segment [Member] | ||
With no related allowance - Recorded investment | 3,229 | 1,655 |
With no related allowance - Unpaid principal balance | 6,589 | 5,418 |
With related allowance - Recorded investment | 379 | 2,007 |
With related allowance - Unpaid principal balance | 394 | 2,195 |
Related allowance | 35 | 867 |
Recorded investment | 3,608 | 3,662 |
Unpaid principal balance | 6,983 | 7,613 |
Owner Occupied Real Estate [Member] | ||
With no related allowance - Recorded investment | 1,775 | 1,905 |
With no related allowance - Unpaid principal balance | 1,924 | 2,013 |
With related allowance - Recorded investment | 1,757 | 655 |
With related allowance - Unpaid principal balance | 1,757 | 704 |
Related allowance | 291 | 217 |
Recorded investment | 3,532 | 2,560 |
Unpaid principal balance | 3,681 | 2,717 |
Consumer Portfolio Segment [Member] | ||
With no related allowance - Recorded investment | 961 | 710 |
With no related allowance - Unpaid principal balance | 1,256 | 1,082 |
With related allowance - Recorded investment | 151 | |
With related allowance - Unpaid principal balance | 158 | |
Related allowance | 94 | |
Recorded investment | 961 | 861 |
Unpaid principal balance | 1,256 | 1,240 |
Residential Portfolio Segment [Member] | ||
With no related allowance - Recorded investment | 768 | |
With no related allowance - Unpaid principal balance | 768 | |
With related allowance - Recorded investment | ||
With related allowance - Unpaid principal balance | ||
Related allowance | ||
Recorded investment | 768 | |
Unpaid principal balance | $ 768 |
Note 6 - Loans Receivable and_7
Note 6 - Loans Receivable and Allowance for Loan Losses - Impaired Loans, Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
With no related allowance recorded - Average recorded investment | $ 13,197 | $ 15,216 | $ 11,641 | $ 18,228 |
With no related allowance recorded - Interest income recognized | 116 | 109 | 293 | 316 |
With related allowance - Average recorded investment | 6,190 | 6,998 | 6,270 | 5,766 |
With related allowance - Interest income recognized | 12 | 7 | 24 | 23 |
Average recorded investment | 19,387 | 22,214 | 17,911 | 23,994 |
Interest income recognized | 128 | 116 | 317 | 339 |
Commercial Real Estate Portfolio Segment [Member] | ||||
With no related allowance recorded - Average recorded investment | 7,004 | 9,748 | 6,532 | 11,454 |
With no related allowance recorded - Interest income recognized | 80 | 72 | 220 | 216 |
With related allowance - Average recorded investment | 4,114 | 3,976 | 4,314 | 2,692 |
With related allowance - Interest income recognized | ||||
Average recorded investment | 11,118 | 13,724 | 10,846 | 14,146 |
Interest income recognized | 80 | 72 | 220 | 216 |
Construction and Land Development Portfolio Segment [Member] | ||||
With no related allowance recorded - Average recorded investment | ||||
With no related allowance recorded - Interest income recognized | ||||
With related allowance - Average recorded investment | ||||
With related allowance - Interest income recognized | ||||
Average recorded investment | ||||
Interest income recognized | ||||
Commercial Portfolio Segment [Member] | ||||
With no related allowance recorded - Average recorded investment | 2,821 | 2,566 | 2,001 | 3,762 |
With no related allowance recorded - Interest income recognized | 19 | 12 | 19 | 45 |
With related allowance - Average recorded investment | 572 | 1,948 | 956 | 1,826 |
With related allowance - Interest income recognized | 1 | 4 | ||
Average recorded investment | 3,393 | 4,514 | 2,957 | 5,588 |
Interest income recognized | 19 | 13 | 19 | 49 |
Owner Occupied Real Estate [Member] | ||||
With no related allowance recorded - Average recorded investment | 1,801 | 2,255 | 1,853 | 2,367 |
With no related allowance recorded - Interest income recognized | 12 | 15 | 40 | 43 |
With related allowance - Average recorded investment | 1,492 | 905 | 962 | 1,047 |
With related allowance - Interest income recognized | 12 | 6 | 24 | 18 |
Average recorded investment | 3,293 | 3,160 | 2,815 | 3,414 |
Interest income recognized | 24 | 21 | 64 | 61 |
Consumer Portfolio Segment [Member] | ||||
With no related allowance recorded - Average recorded investment | 931 | 647 | 871 | 645 |
With no related allowance recorded - Interest income recognized | 4 | 10 | 12 | 12 |
With related allowance - Average recorded investment | 12 | 169 | 38 | 201 |
With related allowance - Interest income recognized | 1 | |||
Average recorded investment | 943 | 816 | 909 | 846 |
Interest income recognized | 4 | 10 | 12 | 13 |
Residential Portfolio Segment [Member] | ||||
With no related allowance recorded - Average recorded investment | 640 | 384 | ||
With no related allowance recorded - Interest income recognized | 1 | 2 | ||
With related allowance - Average recorded investment | ||||
With related allowance - Interest income recognized | ||||
Average recorded investment | 640 | 384 | ||
Interest income recognized | $ 1 | $ 2 |
Note 6 - Loans Receivable and_8
Note 6 - Loans Receivable and Allowance for Loan Losses - Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans receivable, total past due | $ 12,265 | $ 13,050 |
Loans receivable, current | 1,556,856 | 1,423,564 |
Loans receivable | 1,569,121 | 1,436,614 |
Loans receivable greater than 90 days and accruing | 129 | |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable, total past due | 176 | 1,135 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable, total past due | 37 | 1,574 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable, total past due | 12,052 | 10,341 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable, total past due | 4,362 | 5,891 |
Loans receivable, current | 565,965 | 509,847 |
Loans receivable | 570,327 | 515,738 |
Loans receivable greater than 90 days and accruing | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable, total past due | 93 | 339 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable, total past due | 921 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable, total past due | 4,269 | 4,631 |
Construction and Land Development Portfolio Segment [Member] | ||
Loans receivable, total past due | ||
Loans receivable, current | 109,582 | 121,042 |
Loans receivable | 109,582 | 121,042 |
Loans receivable greater than 90 days and accruing | ||
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable, total past due | ||
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable, total past due | ||
Construction and Land Development Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable, total past due | ||
Commercial Portfolio Segment [Member] | ||
Loans receivable, total past due | 3,608 | 3,941 |
Loans receivable, current | 184,229 | 196,482 |
Loans receivable | 187,837 | 200,423 |
Loans receivable greater than 90 days and accruing | ||
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable, total past due | 280 | |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable, total past due | ||
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable, total past due | 3,608 | 3,661 |
Owner Occupied Real Estate [Member] | ||
Loans receivable, total past due | 2,345 | 1,841 |
Loans receivable, current | 395,498 | 366,054 |
Loans receivable | 397,843 | 367,895 |
Loans receivable greater than 90 days and accruing | ||
Owner Occupied Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable, total past due | ||
Owner Occupied Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable, total past due | 28 | 653 |
Owner Occupied Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable, total past due | 2,317 | 1,188 |
Consumer Portfolio Segment [Member] | ||
Loans receivable, total past due | 1,182 | 1,075 |
Loans receivable, current | 96,852 | 90,077 |
Loans receivable | 98,034 | 91,152 |
Loans receivable greater than 90 days and accruing | 129 | |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable, total past due | 83 | 214 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable, total past due | 9 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable, total past due | 1,090 | 861 |
Residential Portfolio Segment [Member] | ||
Loans receivable, total past due | 768 | 302 |
Loans receivable, current | 204,730 | 140,062 |
Loans receivable | 205,498 | 140,364 |
Loans receivable greater than 90 days and accruing | ||
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable, total past due | 302 | |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable, total past due | ||
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable, total past due | $ 768 |
Note 6 - Loans Receivable and_9
Note 6 - Loans Receivable and Allowance for Loan Losses - Loans by Internal Risk Rating (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans receivable | $ 1,569,121 | $ 1,436,614 |
Pass [Member] | ||
Loans receivable | 1,552,924 | 1,422,542 |
Special Mention [Member] | ||
Loans receivable | 2,280 | 2,358 |
Substandard [Member] | ||
Loans receivable | 13,637 | 11,434 |
Doubtful [Member] | ||
Loans receivable | 280 | 280 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 570,327 | 515,738 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 565,187 | 510,186 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 92 | 921 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 5,048 | 4,631 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | ||
Construction and Land Development Portfolio Segment [Member] | ||
Loans receivable | 109,582 | 121,042 |
Construction and Land Development Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 109,582 | 121,042 |
Construction and Land Development Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | ||
Construction and Land Development Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | ||
Construction and Land Development Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | ||
Commercial Portfolio Segment [Member] | ||
Loans receivable | 187,837 | 200,423 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 184,229 | 196,751 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 10 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 3,328 | 3,382 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | 280 | 280 |
Owner Occupied Real Estate [Member] | ||
Loans receivable | 397,843 | 367,895 |
Owner Occupied Real Estate [Member] | Pass [Member] | ||
Loans receivable | 392,245 | 364,032 |
Owner Occupied Real Estate [Member] | Special Mention [Member] | ||
Loans receivable | 2,066 | 1,303 |
Owner Occupied Real Estate [Member] | Substandard [Member] | ||
Loans receivable | 3,532 | 2,560 |
Owner Occupied Real Estate [Member] | Doubtful [Member] | ||
Loans receivable | ||
Consumer Portfolio Segment [Member] | ||
Loans receivable | 98,034 | 91,152 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 97,073 | 90,291 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 961 | 861 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | ||
Residential Portfolio Segment [Member] | ||
Loans receivable | 205,498 | 140,364 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 204,608 | 140,240 |
Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 122 | 124 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 768 | |
Residential Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable |
Note 6 - Loans Receivable an_10
Note 6 - Loans Receivable and Allowance for Loan Losses - Non-accrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Non-accrual loans | $ 11,923 | $ 10,341 |
Commercial Real Estate Portfolio Segment [Member] | ||
Non-accrual loans | 4,269 | 4,631 |
Construction and Land Development Portfolio Segment [Member] | ||
Non-accrual loans | ||
Commercial Portfolio Segment [Member] | ||
Non-accrual loans | 3,608 | 3,661 |
Owner Occupied Real Estate [Member] | ||
Non-accrual loans | 2,317 | 1,188 |
Consumer Portfolio Segment [Member] | ||
Non-accrual loans | 961 | 861 |
Residential Portfolio Segment [Member] | ||
Non-accrual loans | $ 768 |
Note 6 - Loan Receivables and A
Note 6 - Loan Receivables and Allowance for Loan Losses - Troubled Debt Restructurings (Details) $ in Thousands | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Number of Loans | 1 | 5 |
Troubled debt restructurings, accrual status | $ 6,209 | $ 6,316 |
Troubled debt restructurings, non-accrual status | 1,466 | |
Troubled debt restructurings | $ 6,209 | $ 7,782 |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of Loans | 1 | 1 |
Troubled debt restructurings, accrual status | $ 6,209 | $ 6,316 |
Troubled debt restructurings, non-accrual status | ||
Troubled debt restructurings | $ 6,209 | $ 6,316 |
Construction and Land Development Portfolio Segment [Member] | ||
Number of Loans | ||
Troubled debt restructurings, accrual status | ||
Troubled debt restructurings, non-accrual status | ||
Troubled debt restructurings | ||
Commercial Portfolio Segment [Member] | ||
Number of Loans | 3 | |
Troubled debt restructurings, accrual status | ||
Troubled debt restructurings, non-accrual status | 1,224 | |
Troubled debt restructurings | $ 1,224 | |
Owner Occupied Real Estate [Member] | ||
Number of Loans | 1 | |
Troubled debt restructurings, accrual status | ||
Troubled debt restructurings, non-accrual status | 242 | |
Troubled debt restructurings | $ 242 | |
Consumer Portfolio Segment [Member] | ||
Number of Loans | ||
Troubled debt restructurings, accrual status | ||
Troubled debt restructurings, non-accrual status | ||
Troubled debt restructurings | ||
Residential Portfolio Segment [Member] | ||
Number of Loans | ||
Troubled debt restructurings, accrual status | ||
Troubled debt restructurings, non-accrual status | ||
Troubled debt restructurings |
Note 7 - Fair Value of Financ_3
Note 7 - Fair Value of Financial Instruments (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Contractually Specified Servicing Fees, Amount | $ 498,000 | $ 486,000 | $ 1,400,000 | $ 1,500,000 | |
Servicing Asset, Total | 204,300,000 | 204,300,000 | $ 204,400,000 | ||
Mortgages Held-for-sale, Fair Value Disclosure | $ 18,734,000 | $ 18,734,000 | $ 20,887,000 | ||
SBA Servicing Assets [Member] | |||||
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Key Assumptions, Percent | 10.00% | 10.00% | 10.00% | ||
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Key Assumptions | 20.00% | 20.00% | 20.00% | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Mortgages Held-for-sale, Fair Value Disclosure | $ 0 | $ 0 | $ 0 | ||
Interest and Fees [Member] | |||||
Interest and Fee Income, Loans Held-for-sale, Mortgages | $ 142,000 | $ 389,000 | $ 398,000 | $ 914,000 |
Note 7 - Fair Value of Financ_4
Note 7 - Fair Value of Financial Instruments - Financial Assets Measured at on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Total, available for sale, fair value | $ 379,962 | $ 321,014 | ||||
Mortgages Held-for-sale, Fair Value Disclosure | 18,734 | 20,887 | ||||
SBA Servicing Assets | 4,504 | $ 4,593 | 4,785 | $ 4,855 | $ 4,977 | $ 5,243 |
US Government Agencies Debt Securities [Member] | ||||||
Total, available for sale, fair value | 29,420 | |||||
Collateralized Mortgage Obligations [Member] | ||||||
Total, available for sale, fair value | 256,389 | 196,259 | ||||
Agency Mortgage-backed Securities [Member] | ||||||
Total, available for sale, fair value | 23,901 | 38,499 | ||||
US States and Political Subdivisions Debt Securities [Member] | ||||||
Total, available for sale, fair value | 4,082 | 20,639 | ||||
Corporate Debt Securities [Member] | ||||||
Total, available for sale, fair value | 66,170 | 59,274 | ||||
Asset-backed Securities [Member] | ||||||
Total, available for sale, fair value | 6,343 | |||||
Fair Value, Recurring [Member] | ||||||
Total, available for sale, fair value | 379,962 | 321,014 | ||||
Mortgages Held-for-sale, Fair Value Disclosure | 18,734 | 20,887 | ||||
SBA Servicing Assets | 4,504 | 4,785 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Total, available for sale, fair value | ||||||
Mortgages Held-for-sale, Fair Value Disclosure | ||||||
SBA Servicing Assets | ||||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Total, available for sale, fair value | 377,071 | 317,945 | ||||
Mortgages Held-for-sale, Fair Value Disclosure | 18,734 | 20,887 | ||||
SBA Servicing Assets | ||||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Total, available for sale, fair value | 2,891 | 3,069 | ||||
Mortgages Held-for-sale, Fair Value Disclosure | ||||||
SBA Servicing Assets | 4,504 | 4,785 | ||||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||||||
Total, available for sale, fair value | 29,420 | |||||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Total, available for sale, fair value | ||||||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Total, available for sale, fair value | 29,420 | |||||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Total, available for sale, fair value | ||||||
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||||||
Total, available for sale, fair value | 256,389 | 196,259 | ||||
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Total, available for sale, fair value | ||||||
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Total, available for sale, fair value | 256,389 | 196,259 | ||||
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Total, available for sale, fair value | ||||||
Fair Value, Recurring [Member] | Agency Mortgage-backed Securities [Member] | ||||||
Total, available for sale, fair value | 23,901 | 38,499 | ||||
Fair Value, Recurring [Member] | Agency Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Total, available for sale, fair value | ||||||
Fair Value, Recurring [Member] | Agency Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Total, available for sale, fair value | 23,901 | 38,499 | ||||
Fair Value, Recurring [Member] | Agency Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Total, available for sale, fair value | ||||||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||||||
Total, available for sale, fair value | 4,082 | 20,639 | ||||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Total, available for sale, fair value | ||||||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Total, available for sale, fair value | 4,082 | 20,639 | ||||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Total, available for sale, fair value | ||||||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||||||
Total, available for sale, fair value | 66,170 | 59,274 | ||||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Total, available for sale, fair value | ||||||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Total, available for sale, fair value | 63,279 | 56,205 | ||||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Total, available for sale, fair value | 2,891 | 3,069 | ||||
Fair Value, Recurring [Member] | Interest Rate Lock Commitments [Member] | ||||||
Derivative Asset | 506 | 410 | ||||
Derivative Liability | 2 | |||||
Fair Value, Recurring [Member] | Interest Rate Lock Commitments [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Derivative Asset | ||||||
Derivative Liability | ||||||
Fair Value, Recurring [Member] | Interest Rate Lock Commitments [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Derivative Asset | 506 | 410 | ||||
Derivative Liability | 2 | |||||
Fair Value, Recurring [Member] | Interest Rate Lock Commitments [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Derivative Asset | ||||||
Derivative Liability | ||||||
Fair Value, Recurring [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||||||
Derivative Asset | 43 | 5 | ||||
Derivative Liability | 126 | 138 | ||||
Fair Value, Recurring [Member] | Best Efforts Forward Loan sales Commitments [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Derivative Asset | ||||||
Derivative Liability | ||||||
Fair Value, Recurring [Member] | Best Efforts Forward Loan sales Commitments [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Derivative Asset | 43 | 5 | ||||
Derivative Liability | 126 | 138 | ||||
Fair Value, Recurring [Member] | Best Efforts Forward Loan sales Commitments [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Derivative Asset | ||||||
Derivative Liability | ||||||
Fair Value, Recurring [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||||||
Derivative Asset | 27 | 10 | ||||
Derivative Liability | 79 | 230 | ||||
Fair Value, Recurring [Member] | Mandatory Forward Loan Sales Commitments [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Derivative Asset | ||||||
Derivative Liability | ||||||
Fair Value, Recurring [Member] | Mandatory Forward Loan Sales Commitments [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Derivative Asset | 27 | 10 | ||||
Derivative Liability | 79 | 230 | ||||
Fair Value, Recurring [Member] | Mandatory Forward Loan Sales Commitments [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Derivative Asset | ||||||
Derivative Liability | ||||||
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | ||||||
Total, available for sale, fair value | 6,343 | |||||
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Total, available for sale, fair value | ||||||
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Total, available for sale, fair value | 6,343 | |||||
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Total, available for sale, fair value |
Note 7 - Fair Value of Financ_5
Note 7 - Fair Value of Financial Instruments - SBA Servicing Assets Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Balance | $ 4,593 | $ 4,977 | $ 4,785 | $ 5,243 |
Additions | 272 | 297 | 825 | 864 |
Fair value adjustments | (361) | (419) | (1,106) | (1,252) |
Balance | $ 4,504 | $ 4,855 | $ 4,504 | $ 4,855 |
Note 7 - Fair Value of Financ_6
Note 7 - Fair Value of Financial Instruments - Assets Measured on a Recurring Basis Using Significant Unobservable Inputs (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Collateralized Debt Obligations [Member] | ||||
Balance | $ 547 | $ 489 | ||
Unrealized gains (losses) | 58 | |||
Proceeds from sales | ||||
Realized losses | ||||
Balance | 547 | 547 | ||
Corporate Debt Securities [Member] | ||||
Balance | 2,999 | 3,083 | 3,069 | 3,086 |
Unrealized gains (losses) | (108) | 102 | (178) | 99 |
Proceeds from sales | ||||
Realized losses | ||||
Balance | $ 2,891 | $ 3,185 | $ 2,891 | $ 3,185 |
Note 7 - Fair Value of Financ_7
Note 7 - Fair Value of Financial Instruments - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Impaired loans | $ 5,823 | $ 5,955 |
Other real estate owned | 5,726 | 1,114 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
Other real estate owned | ||
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Other real estate owned | ||
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 5,823 | 5,955 |
Other real estate owned | $ 5,726 | $ 1,114 |
Note 7 - Fair Value of Financ_8
Note 7 - Fair Value of Financial Instruments - Quantitative Information about Level 3 Assets (Details) $ in Thousands | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |||
Weighted Average [Member] | |||||
SBA servicing assets, unobservable input | 0.115 | ||||
Valuation Technique, Discounted Cash Flow [Member] | Corporate Debt Securities [Member] | |||||
Fair Value | $ 2,891 | $ 3,069 | |||
Valuation Technique, Discounted Cash Flow [Member] | Corporate Debt Securities [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member] | |||||
Securities, unobservable input | 0.0714 | 0.0824 | |||
Valuation Technique, Discounted Cash Flow [Member] | SBA Servicing Assets [Member] | |||||
Fair Value | $ 4,504 | $ 4,785 | |||
Valuation Technique, Discounted Cash Flow [Member] | SBA Servicing Assets [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member] | |||||
SBA servicing assets, unobservable input | 0.11 | ||||
Valuation Technique, Discounted Cash Flow [Member] | SBA Servicing Assets [Member] | Weighted Average [Member] | Measurement Input, Prepayment Rate [Member] | |||||
SBA servicing assets, unobservable input | 0.1328 | 0.1031 | |||
Valuation, Market Approach [Member] | Impaired Loans [Member] | |||||
Fair Value | [1] | $ 5,823 | $ 5,955 | ||
Valuation, Market Approach [Member] | Impaired Loans [Member] | Weighted Average [Member] | Measurement Input, Liquidation Expenses [Member] | |||||
Impaired loans, unobservable input | [2] | 0.12 | 0.13 | ||
Valuation, Market Approach [Member] | Impaired Loans [Member] | Minimum [Member] | Measurement Input, Liquidation Expenses [Member] | |||||
Impaired loans, unobservable input | [2],[3] | 0.09 | 0.11 | ||
Valuation, Market Approach [Member] | Impaired Loans [Member] | Maximum [Member] | Measurement Input, Liquidation Expenses [Member] | |||||
Impaired loans, unobservable input | [2],[3] | 0.2 | 0.24 | ||
Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | |||||
Fair Value | $ 5,726 | $ 1,114 | [1] | ||
Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | Weighted Average [Member] | Measurement Input, Liquidation Expenses [Member] | |||||
Other real estate owned, measurement input | 0.22 | ||||
Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | Minimum [Member] | Measurement Input, Liquidation Expenses [Member] | |||||
Other real estate owned, measurement input | 0.07 | ||||
Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | Maximum [Member] | Measurement Input, Liquidation Expenses [Member] | |||||
Other real estate owned, measurement input | 0.25 | ||||
Appraised Value of Collateral [Member] | Other Real Estate Owned [Member] | Weighted Average [Member] | Measurement Input, Liquidation Expenses [Member] | |||||
Other real estate owned, measurement input | 0.22 | [2] | 0.07 | ||
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which include Level 3 inputs that are not identifiable. | ||||
[2] | The range and weighted average of qualitative factors such as economic conditions and estimated liquidation expenses are presented as a percent of the appraised value. | ||||
[3] | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. |
Note 7 - Fair Value of Financ_9
Note 7 - Fair Value of Financial Instruments - Mortgage Loans Held for Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Carrying Amount | $ 18,734 | $ 20,887 |
Aggregate Unpaid Principal Balance | 18,203 | 20,071 |
Excess Carrying Amount Over Aggregate Unpaid Principal Balance | $ 531 | $ 816 |
Note 7 - Fair Value of Finan_10
Note 7 - Fair Value of Financial Instruments - SBA Servicing Assets Sensitivity Analysis (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
SBA Servicing Asset | ||||||
Fair Value of SBA Servicing Asset | $ 4,504 | $ 4,785 | $ 4,593 | $ 4,855 | $ 4,977 | $ 5,243 |
Composition of SBA Loans Serviced for Others | ||||||
Composition of SBA loans serviced for others | 100.00% | 100.00% | ||||
Weighted Average Remaining Term (years) (Year) | 20 years 255 days | 20 years 146 days | ||||
Prepayment Speed | 13.28% | 10.31% | ||||
Effect on fair value of a 10% increase | $ (175) | $ (170) | ||||
Effect on fair value of a 20% increase | $ (338) | $ (330) | ||||
Weighted Average Discount Rate | 11.00% | 11.50% | ||||
Effect on fair value of a 10% increase | $ (160) | $ (186) | ||||
Effect on fair value of a 20% increase | $ (309) | $ (359) | ||||
Fixed Rate SBA Loans [Member] | ||||||
Composition of SBA Loans Serviced for Others | ||||||
Composition of SBA loans serviced for others | 2.00% | 2.00% | ||||
Adjustable Rate SBA Loans [Member] | ||||||
Composition of SBA Loans Serviced for Others | ||||||
Composition of SBA loans serviced for others | 98.00% | 98.00% |
Note 7 - Fair Value of Finan_11
Note 7 - Fair Value of Financial Instruments - Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Financial assets: | ||||||
Investment securities available for sale, at fair value | $ 379,962 | $ 321,014 | ||||
Fair Value of SBA Servicing Asset | 4,504 | $ 4,593 | 4,785 | $ 4,855 | $ 4,977 | $ 5,243 |
Reported Value Measurement [Member] | ||||||
Financial assets: | ||||||
Cash and cash equivalents | 201,477 | 72,473 | ||||
Investment securities available for sale, at fair value | 379,962 | 321,014 | ||||
Investment securities held to maturity | 687,425 | 761,563 | ||||
Restricted stock | 2,371 | 5,754 | ||||
Loans held for sale | 21,210 | 26,291 | ||||
Loans receivable, net | 1,560,913 | 1,427,983 | ||||
Fair Value of SBA Servicing Asset | 4,504 | 4,785 | ||||
Accrued interest receivable | 9,277 | 9,025 | ||||
Financial liabilities: | ||||||
Demand, savings and money market | 2,522,829 | 2,238,610 | ||||
Time | 217,203 | 154,257 | ||||
Subordinated debt | 11,263 | 11,259 | ||||
Accrued interest payable | 1,655 | 558 | ||||
Off-Balance Sheet Data | ||||||
Commitments to extend credit | ||||||
Standby letters-of-credit | ||||||
Reported Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | 506 | 410 | ||||
Financial liabilities: | ||||||
Derivative liability | 2 | |||||
Reported Value Measurement [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | 43 | 5 | ||||
Financial liabilities: | ||||||
Derivative liability | 126 | 138 | ||||
Reported Value Measurement [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | 27 | 10 | ||||
Financial liabilities: | ||||||
Derivative liability | 79 | 230 | ||||
Estimate of Fair Value Measurement [Member] | ||||||
Financial assets: | ||||||
Cash and cash equivalents | 201,477 | 72,473 | ||||
Investment securities available for sale, at fair value | 379,962 | 321,014 | ||||
Investment securities held to maturity | 699,054 | 747,323 | ||||
Restricted stock | 2,371 | 5,754 | ||||
Loans held for sale | 21,210 | 26,291 | ||||
Loans receivable, net | 1,530,738 | 1,410,945 | ||||
Fair Value of SBA Servicing Asset | 4,504 | 4,785 | ||||
Accrued interest receivable | 9,277 | 9,025 | ||||
Financial liabilities: | ||||||
Demand, savings and money market | 2,522,829 | 2,238,610 | ||||
Time | 217,325 | 152,989 | ||||
Subordinated debt | 8,109 | 8,279 | ||||
Accrued interest payable | 1,655 | 558 | ||||
Off-Balance Sheet Data | ||||||
Commitments to extend credit | ||||||
Standby letters-of-credit | ||||||
Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | 506 | 410 | ||||
Financial liabilities: | ||||||
Derivative liability | 2 | |||||
Estimate of Fair Value Measurement [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | 43 | 5 | ||||
Financial liabilities: | ||||||
Derivative liability | 126 | 138 | ||||
Estimate of Fair Value Measurement [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | 27 | 10 | ||||
Financial liabilities: | ||||||
Derivative liability | 79 | 230 | ||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Financial assets: | ||||||
Cash and cash equivalents | 201,477 | 72,473 | ||||
Investment securities available for sale, at fair value | ||||||
Investment securities held to maturity | ||||||
Restricted stock | ||||||
Loans held for sale | ||||||
Loans receivable, net | ||||||
Fair Value of SBA Servicing Asset | ||||||
Accrued interest receivable | ||||||
Financial liabilities: | ||||||
Demand, savings and money market | ||||||
Time | ||||||
Subordinated debt | ||||||
Accrued interest payable | ||||||
Off-Balance Sheet Data | ||||||
Commitments to extend credit | ||||||
Standby letters-of-credit | ||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Lock Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | ||||||
Financial liabilities: | ||||||
Derivative liability | ||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | ||||||
Financial liabilities: | ||||||
Derivative liability | ||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | ||||||
Financial liabilities: | ||||||
Derivative liability | ||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Financial assets: | ||||||
Cash and cash equivalents | ||||||
Investment securities available for sale, at fair value | 377,071 | 317,945 | ||||
Investment securities held to maturity | 699,054 | 747,323 | ||||
Restricted stock | 2,371 | 5,754 | ||||
Loans held for sale | 18,734 | 20,887 | ||||
Loans receivable, net | ||||||
Fair Value of SBA Servicing Asset | ||||||
Accrued interest receivable | 9,277 | 9,025 | ||||
Financial liabilities: | ||||||
Demand, savings and money market | 2,522,829 | 2,238,610 | ||||
Time | 217,325 | 152,989 | ||||
Subordinated debt | ||||||
Accrued interest payable | 1,655 | 558 | ||||
Off-Balance Sheet Data | ||||||
Commitments to extend credit | ||||||
Standby letters-of-credit | ||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Lock Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | 506 | 410 | ||||
Financial liabilities: | ||||||
Derivative liability | 2 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | 43 | 5 | ||||
Financial liabilities: | ||||||
Derivative liability | 126 | 138 | ||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | 27 | 10 | ||||
Financial liabilities: | ||||||
Derivative liability | 79 | 230 | ||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Financial assets: | ||||||
Cash and cash equivalents | ||||||
Investment securities available for sale, at fair value | 2,891 | 3,069 | ||||
Investment securities held to maturity | ||||||
Restricted stock | ||||||
Loans held for sale | 2,476 | 5,404 | ||||
Loans receivable, net | 1,530,738 | 1,410,945 | ||||
Fair Value of SBA Servicing Asset | 4,504 | 4,785 | ||||
Accrued interest receivable | ||||||
Financial liabilities: | ||||||
Demand, savings and money market | ||||||
Time | ||||||
Subordinated debt | 8,109 | 8,279 | ||||
Accrued interest payable | ||||||
Off-Balance Sheet Data | ||||||
Commitments to extend credit | ||||||
Standby letters-of-credit | ||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Lock Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | ||||||
Financial liabilities: | ||||||
Derivative liability | ||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | ||||||
Financial liabilities: | ||||||
Derivative liability | ||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||||||
Financial assets: | ||||||
Derivative asset | ||||||
Financial liabilities: | ||||||
Derivative liability |
Note 8 - Changes in Accumulat_3
Note 8 - Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) - Accumulated Other Comprehensive Loss (Details) - USD ($) | Jan. 01, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |||||
Balance | $ 226,460,000 | $ 251,358,000 | $ 235,334,000 | $ 245,189,000 | $ 226,460,000 | $ 226,460,000 | |||||
Unrealized gain (loss) on securities | 366,000 | (2,500,000) | 3,562,000 | (9,535,000) | |||||||
Total other comprehensive income (loss) | 684,000 | (2,471,000) | 4,403,000 | (9,452,000) | |||||||
Reclassification due to the adoption of ASU 2018-02 | |||||||||||
Balance | 250,843,000 | 235,824,000 | 250,843,000 | 235,824,000 | 245,189,000 | ||||||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||||||||
Balance | [1] | (7,150,000) | (4,736,000) | (7,150,000) | (7,150,000) | ||||||
Unrealized gain (loss) on securities | [1] | 4,456,000 | (9,536,000) | 3,927,000 | |||||||
Amounts reclassified from accumulated other comprehensive income to net income (2) | [1],[2] | (894,000) | 1,000 | 49,000 | |||||||
Total other comprehensive income (loss) | [1] | 3,562,000 | (9,535,000) | 3,976,000 | |||||||
Total change in accumulated other comprehensive income | 3,562,000 | [1] | (11,097,000) | [1] | 2,414,000 | ||||||
Reclassification due to the adoption of ASU 2018-02 | [1] | (1,562,000) | (1,562,000) | ||||||||
Net unrealized holding losses on securities transferred from available-for-sale to held-to-maturity | [1] | ||||||||||
Balance | [1] | (1,174,000) | (18,247,000) | (1,174,000) | (18,247,000) | (4,736,000) | |||||
Accumulated Net Investment Gain (Loss) on Securities Transferred from Available-for-Sale to Held-to-Maturity [Member] | |||||||||||
Balance | [1] | (359,000) | (7,191,000) | (359,000) | (359,000) | ||||||
Unrealized gain (loss) on securities | [1] | ||||||||||
Amounts reclassified from accumulated other comprehensive income to net income (2) | [1],[2] | 841,000 | 83,000 | 101,000 | |||||||
Total other comprehensive income (loss) | [1] | 841,000 | 83,000 | (6,754,000) | |||||||
Total change in accumulated other comprehensive income | 841,000 | [1] | 5,000 | [1] | (6,832,000) | ||||||
Reclassification due to the adoption of ASU 2018-02 | [1] | (78,000) | (78,000) | ||||||||
Net unrealized holding losses on securities transferred from available-for-sale to held-to-maturity | [1] | (6,855,000) | |||||||||
Balance | [1] | (6,350,000) | (354,000) | (6,350,000) | (354,000) | (7,191,000) | |||||
AOCI Attributable to Parent [Member] | |||||||||||
Balance | (7,509,000) | [1] | (8,208,000) | (16,130,000) | (11,927,000) | [1] | (7,509,000) | [1] | (7,509,000) | [1] | |
Unrealized gain (loss) on securities | [1] | 4,456,000 | (9,536,000) | 3,927,000 | |||||||
Amounts reclassified from accumulated other comprehensive income to net income (2) | [1],[2] | (53,000) | 84,000 | 150,000 | |||||||
Total other comprehensive income (loss) | 684,000 | (2,471,000) | 4,403,000 | [1] | (9,452,000) | [1] | (2,778,000) | [1] | |||
Total change in accumulated other comprehensive income | 4,403,000 | [1] | (11,092,000) | [1] | (4,418,000) | ||||||
Reclassification due to the adoption of ASU 2018-02 | $ (1,600,000) | (1,640,000) | [1] | (1,640,000) | [1] | ||||||
Net unrealized holding losses on securities transferred from available-for-sale to held-to-maturity | [1] | (6,855,000) | |||||||||
Balance | [1] | $ (7,524,000) | $ (18,601,000) | $ (7,524,000) | $ (18,601,000) | $ (11,927,000) | |||||
[1] | All amounts are net of tax. Amounts in parentheses indicate reductions to other comprehensive income. | ||||||||||
[2] | Reclassification amounts are reported as gains on sales of investment securities, impairment losses, and amortization of net unrealized losses on the Consolidated Statement of Operations. |
Note 9 - Goodwill and Other I_3
Note 9 - Goodwill and Other Intangibles (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Goodwill, Impairment Loss | $ 0 | $ 0 |
Note 9 - Goodwill and Other I_4
Note 9 - Goodwill and Other Intangibles - Summary of Goodwill and Other Intangibles (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Balance | $ 5,011 | $ 5,011 | $ 5,011 | $ 5,011 |
Additions/Adjustments | 0 | 0 | 0 | 0 |
Balance | $ 5,011 | $ 5,011 | $ 5,011 | $ 5,011 |
Note 10 - Derivatives and Ris_3
Note 10 - Derivatives and Risk Management Activities (Details Textual) xbrli-pure in Thousands | Sep. 30, 2019 | Sep. 30, 2018 |
Designated as Hedging Instrument [Member] | ||
Derivative, Number of Instruments Held, Total | 0 | 0 |
Note 10 - Derivatives and Ris_4
Note 10 - Derivatives and Risk Management Activities - Amounts Recorded in Statement of Financial Condition (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Other Assets [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||
Derivative Asset, Fair Value | $ 43 | $ 5 |
Derivative Asset, Notional Amount | 10,622 | 1,639 |
Other Assets [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||
Derivative Asset, Fair Value | 27 | 10 |
Derivative Asset, Notional Amount | 6,948 | 865 |
Other Assets [Member] | Interest Rate Lock Commitments [Member] | ||
Derivative Asset, Fair Value | 506 | 410 |
Derivative Asset, Notional Amount | 29,205 | 16,966 |
Derivative Liability, Fair Value | ||
Derivative Liability, Notional Amount | ||
Other Liabilities [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||
Derivative Liability, Fair Value | 126 | 138 |
Derivative Liability, Notional Amount | 19,393 | 15,327 |
Other Liabilities [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||
Derivative Liability, Fair Value | 79 | 230 |
Derivative Liability, Notional Amount | 11,132 | $ 18,980 |
Other Liabilities [Member] | Interest Rate Lock Commitments [Member] | ||
Derivative Liability, Fair Value | 2 | |
Derivative Liability, Notional Amount | $ 810 |
Note 10 - Derivatives and Ris_5
Note 10 - Derivatives and Risk Management Activities - Derivative Instrument Gain (Loss) Recorded in Statement of Income (Details) - Mortgage Banking Income [Member] - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Best Efforts Forward Loan sales Commitments [Member] | Liability Derivatives [Member] | ||||
Derivative Gain (Loss), Net | $ 81 | $ 120 | $ 12 | $ 3 |
Mandatory Forward Loan Sales Commitments [Member] | Liability Derivatives [Member] | ||||
Derivative Gain (Loss), Net | 148 | 198 | 151 | 92 |
Asset Derivatives [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||||
Derivative Gain (Loss), Net | 26 | 7 | 38 | 3 |
Asset Derivatives [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||||
Derivative Gain (Loss), Net | 27 | 13 | 17 | |
Interest Rate Lock Commitments [Member] | Liability Derivatives [Member] | ||||
Derivative Gain (Loss), Net | (2) | 3 | (2) | 1 |
Interest Rate Lock Commitments [Member] | Asset Derivatives [Member] | ||||
Derivative Gain (Loss), Net | $ (201) | $ (297) | $ 96 | $ 54 |
Note 11 - Revenue Recognition_2
Note 11 - Revenue Recognition (Details Textual) $ in Thousands | Sep. 30, 2019USD ($) |
Contract Acquisition Costs [Member] | |
Capitalized Contract Cost, Net, Total | $ 0 |
Note 11 - Revenue Recognition -
Note 11 - Revenue Recognition - Non-interest Income Segregated by Revenue Streams (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Non-interest income | $ 2,036 | $ 1,415 | $ 5,625 | $ 3,994 |
Non-interest income (out-of-scope of Topic 606) | 4,518 | 3,716 | 12,900 | 11,440 |
Total non-interest income | 6,554 | 5,131 | 18,525 | 15,434 |
Deposit Account [Member] | ||||
Non-interest income | 1,990 | 1,386 | 5,450 | 3,887 |
Other Non-interest Income From Customers [Member] | ||||
Non-interest income | $ 46 | $ 29 | $ 175 | $ 107 |
Note 12 - Leases (Details Textu
Note 12 - Leases (Details Textual) | Sep. 30, 2019USD ($) | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) |
Operating Lease, Liability, Total | $ 69,646,000 | ||
Operating Lease, Right-of-Use Asset | $ 65,860,000 | ||
Lessee, Finance Lease, Number of Leases | 0 | ||
Lessee, Operating Lease, Number of Leases | 37 | 34 | |
Operating Lease, Weighted Average Remaining Lease Term | 19 years 36 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 3.58% | ||
Minimum [Member] | |||
Lessee, Operating Lease, Renewal Term | 5 years | ||
Maximum [Member] | |||
Lessee, Operating Lease, Renewal Term | 10 years | ||
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Liability, Total | $ 35,100,000 | ||
Operating Lease, Right-of-Use Asset | $ 34,200,000 |
Note 12 - Leases - Operating Le
Note 12 - Leases - Operating Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Operating lease cost | $ 1,890 | $ 4,920 |
Sublease income | (80) | (241) |
Total lease cost | 1,810 | 4,679 |
Operating cash flows from operating leases | 1,706 | 3,755 |
New operating lease liability obligation | $ 101 | $ 72,457 |
Note 12 - Leases - Maturity Ana
Note 12 - Leases - Maturity Analysis of Operating Lease Liability Obligations (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Within one year | $ 6,962 | |
One to three years | 11,806 | |
Three to five years | 10,106 | |
More than five years | 72,030 | |
Total undiscounted cash flows | 100,904 | |
Discount on cash flows | (31,258) | |
Operating Lease, Liability, Total | $ 69,646 |