Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 24, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | Stock Yards Bancorp, Inc. | |
Entity Central Index Key | 835,324 | |
Trading Symbol | sybt | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 22,660,284 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 43,583 | $ 39,709 |
Federal funds sold and interest bearing deposits | 45,898 | 8,264 |
Cash and cash equivalents | 89,481 | 47,973 |
Mortgage loans held for sale | 3,884 | 3,213 |
Securities available-for-sale (amortized cost of $556,947 in 2017 and $571,936 in 2016) | 556,144 | 570,074 |
Federal Home Loan Bank stock and other securities | 6,347 | 6,347 |
Loans | 2,272,778 | 2,305,375 |
Less allowance for loan losses | 24,481 | 24,007 |
Net loans | 2,248,297 | 2,281,368 |
Premises and equipment, net | 41,825 | 42,384 |
Bank owned life insurance | 32,071 | 31,867 |
Accrued interest receivable | 7,461 | 6,878 |
Other assets | 47,833 | 49,377 |
Total assets | 3,033,343 | 3,039,481 |
Liabilities and Stockholders’ Equity | ||
Non-interest bearing | 686,535 | 680,156 |
Interest bearing | 1,857,720 | 1,840,392 |
Total deposits | 2,544,255 | 2,520,548 |
Securities sold under agreements to repurchase | 65,701 | 67,595 |
Federal funds purchased and other short-term borrowing | 10,975 | 47,374 |
Federal Home Loan Bank advances | 50,755 | 51,075 |
Accrued interest payable | 156 | 144 |
Other liabilities | 41,814 | 38,873 |
Total liabilities | 2,713,656 | 2,725,609 |
Stockholders’ equity: | ||
Preferred stock, no par value. Authorized 1,000,000 shares; no shares issued or outstanding | ||
Common stock, no par value. Authorized 40,000,000 shares; issued and outstanding 22,660,774 and 22,617,098 shares in 2017 and 2016, respectively | 36,395 | 36,250 |
Additional paid-in capital | 29,002 | 26,682 |
Retained earnings | 255,015 | 252,439 |
Accumulated other comprehensive loss | (725) | (1,499) |
Total stockholders’ equity | 319,687 | 313,872 |
Total liabilities and stockholders’ equity | $ 3,033,343 | $ 3,039,481 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Securities available for sale, amortized cost | $ 556,947 | $ 571,936 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
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 | $ 0 |
Common stock, shares authorized (in shares) | 40,000,000 | 40,000,000 |
Common stock, shares issued (in shares) | 22,660,774 | 22,617,098 |
Common stock, shares outstanding (in shares) | 22,660,774 | 22,617,098 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest income: | ||
Loans | $ 24,060 | $ 21,993 |
Federal funds sold and interest bearing deposits | 134 | 189 |
Mortgage loans held for sale | 44 | 60 |
Securities – taxable | 2,114 | 2,155 |
Securities – tax-exempt | 281 | 303 |
Total interest income | 26,633 | 24,700 |
Interest expense: | ||
Deposits | 1,163 | 996 |
Federal funds purchased and other short-term borrowing | 19 | 15 |
Securities sold under agreements to repurchase | 35 | 33 |
Federal Home Loan Bank advances | 232 | 187 |
Total interest expense | 1,449 | 1,231 |
Net interest income | 25,184 | 23,469 |
Provision for loan losses | 900 | 500 |
Net interest income after provision for loan losses | 24,284 | 22,969 |
Non-interest income: | ||
Wealth management and trust services | 5,094 | 4,612 |
Service charges on deposit accounts | 2,407 | 2,146 |
Bankcard transactions | 1,406 | 1,310 |
Mortgage banking | 702 | 794 |
Securities brokerage | 539 | 443 |
Bank owned life insurance | 204 | 221 |
Other | 445 | 556 |
Total non-interest income | 10,797 | 10,082 |
Non-interest expenses: | ||
Salaries and employee benefits | 13,412 | 12,195 |
Net occupancy | 1,630 | 1,524 |
Data processing | 1,868 | 1,544 |
Furniture and equipment | 277 | 285 |
FDIC insurance | 230 | 328 |
Amortization of investments in tax credit partnerships | 616 | 1,015 |
Other | 3,115 | 2,649 |
Total non-interest expenses | 21,148 | 19,540 |
Income before income taxes | 13,933 | 13,511 |
Income tax expense | 3,142 | 3,676 |
Net income | $ 10,791 | $ 9,835 |
Net income per share: | ||
Basic (in dollars per share) | $ 0.48 | $ 0.44 |
Diluted (in dollars per share) | $ 0.47 | $ 0.44 |
Average common shares: | ||
Basic (in shares) | 22,492 | 22,254 |
Diluted (in shares) | 23,002 | 22,592 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net income | $ 10,791 | $ 9,835 |
Other comprehensive income, net of tax: | ||
Unrealized gains arising during the period (net of tax of $370 and $1,968, respectively) | 689 | 3,653 |
Unrealized gains (losses) on hedging instruments: | ||
Unrealized gains (losses) arising during the period (net of tax of $47 and ($183), respectively) | 85 | (339) |
Other comprehensive income, net of tax | 774 | 3,314 |
Comprehensive income | $ 11,565 | $ 13,149 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Unrealized (losses) gains arising during the period, tax | $ 370 | $ 1,968 |
Unrealized gains (losses) arising during the period, tax | $ 47 | $ (183) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 22,379 | ||||
Balance at Dec. 31, 2015 | $ 35,456 | $ 19,340 | $ 231,091 | $ 632 | $ 286,519 |
Net income | 9,835 | 9,835 | |||
Other comprehensive income, net of tax | 3,314 | 3,314 | |||
Stock compensation expense | 513 | 513 | |||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 105 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 349 | 1,029 | (1,499) | (121) | |
Cash dividends | (3,737) | (3,737) | |||
Shares cancelled (in shares) | (6) | ||||
Shares cancelled | $ (20) | (99) | 119 | ||
Balance (in shares) at Mar. 31, 2016 | 22,478 | ||||
Balance at Mar. 31, 2016 | $ 35,785 | 20,783 | 235,809 | 3,946 | 296,323 |
Balance (in shares) at Dec. 31, 2016 | 22,617 | ||||
Balance at Dec. 31, 2016 | $ 36,250 | 26,682 | 252,439 | (1,499) | 313,872 |
Net income | 10,791 | 10,791 | |||
Other comprehensive income, net of tax | 774 | 774 | |||
Stock compensation expense | 660 | 660 | |||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 47 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 155 | 1,716 | (3,976) | (2,105) | |
Cash dividends | (4,305) | (4,305) | |||
Shares cancelled (in shares) | (3) | ||||
Shares cancelled | $ (10) | (56) | 66 | ||
Balance (in shares) at Mar. 31, 2017 | 22,661 | ||||
Balance at Mar. 31, 2017 | $ 36,395 | $ 29,002 | $ 255,015 | $ (725) | $ 319,687 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Retained Earnings [Member] | ||
Cash dividends, per share (in dollars per share) | $ 0.19 | $ 0.17 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Operating activities: | |||
Net income | $ 10,791 | $ 9,835 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 900 | 500 | $ 3,000 |
Depreciation, amortization and accretion, net | 2,280 | 2,662 | |
Deferred income tax provision | 25 | 1,179 | |
Gain on sales of mortgage loans held for sale | (406) | (462) | |
Origination of mortgage loans held for sale | (20,839) | (20,788) | |
Proceeds from sale of mortgage loans held for sale | 20,574 | 24,066 | |
Bank owned life insurance income | (204) | (221) | |
Loss (gain) on the sale of other real estate | (333) | ||
Stock compensation expense | 660 | 513 | |
Excess tax benefits from share-based compensation arrangements | (1,013) | (404) | |
Increase in accrued interest receivable and other assets | (1,125) | (4,774) | |
Increase in accrued interest payable and other liabilities | 3,947 | 5,871 | |
Net cash provided by operating activities | 15,590 | 17,644 | |
Investing activities: | |||
Purchases of securities available for sale | (99,988) | (117,915) | |
Proceeds from sale of securities available for sale | |||
Proceeds from maturities of securities available for sale | 114,297 | 119,615 | |
Net (increase) decrease in loans | 32,171 | (62,660) | |
Purchases of premises and equipment | (308) | (1,169) | |
Proceeds from sale of foreclosed assets | 1,043 | 513 | |
Net cash provided by (used in) investing activities | 47,215 | (61,616) | |
Financing activities: | |||
Net increase(decrease) in deposits | 23,707 | (5,602) | |
Net decrease in securities sold under agreements to repurchase and federal funds purchased | (38,293) | (2,139) | |
Proceeds from Federal Home Loan Bank advances | 30,000 | 30,000 | |
Repayments of Federal Home Loan Bank advances | (30,320) | (30,232) | |
Proceeds (used for) and received from settlement of stock awards | (216) | 495 | |
Excess tax benefits from share-based compensation arrangements | 404 | ||
Common stock repurchases | (1,889) | (1,020) | |
Cash dividends paid | (4,286) | (3,729) | |
Net cash used in financing activities | (21,297) | (11,823) | |
Net increase (decrease) in cash and cash equivalents | 41,508 | (55,795) | |
Cash and cash equivalents at beginning of period | 47,973 | 103,833 | 103,833 |
Cash and cash equivalents at end of period | 89,481 | 48,038 | $ 47,973 |
Supplemental cash flow information: | |||
Income tax payments | |||
Cash paid for interest | 1,437 | 1,239 | |
Supplemental non-cash activity: | |||
Transfers from loans to other real estate owned | $ 146 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | (1) Summary of Significant Accounting Policies The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10 The unaudited consolidated financial statements include the accounts of Stock Yards Bancorp, Inc. and its wholly-owned subsidiary, Stock Yards Bank & Trust Company (“Bank”). Significant inter-company transactions and accounts have been eliminated in consolidation. In preparing the unaudited consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of related revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of available-for sale securities, other real estate owned and income tax assets, and estimated liabilities and expense. A description of other significant accounting policies is presented in the notes to Consolidated Financial Statements for the year ended December 31, 2016 10 Interim results for the three March 31, 2017 Critical Accounting Policies The allowance for loan losses is management’s estimate of probable losses inherent in the loan portfolio as of the balance sheet date. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management has identified the accounting policy related to the allowance and provision for loan losses as critical to the understanding of Bancorp’s results of operations and discussed this conclusion with the Audit Committee of the Board of Directors. Since the application of this policy requires significant management assumptions and estimates, it could result in materially different amounts to be reported if conditions or underlying circumstances were to change. The provision for loan losses reflects an allowance methodology driven by risk ratings, historical losses, specific loan loss allocations, and qualitative factors. Assumptions include many factors such as changes in borrowers’ financial condition which can change quickly or historical loss ratios related to certain loan portfolios which may may first 2017, 24 28 Bancorp’s allowance calculation includes allocations to loan portfolio segments at March 31, 2017 may |
Note 2 - Securities
Note 2 - Securities | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | (2) The amortized cost, unrealized gains and losses, and fair value of securities available-for-sale follows: (in thousands) Amortized Unrealized Fair March 31, 2017 cost Gains Losses value Government sponsored enterprise obligations $ 340,122 $ 900 $ 1,076 $ 339,946 Mortgage-backed securities - government agencies 161,867 728 2,037 160,558 Obligations of states and political subdivisions 54,305 757 198 54,864 Corporate equity securities 653 123 - 776 Total securities available for sale $ 556,947 $ 2,508 $ 3,311 $ 556,144 December 31, 2016 U.S. Treasury and other U.S. Government obligations $ 74,997 $ 1 $ - $ 74,998 Government sponsored enterprise obligations 268,784 800 1,494 268,090 Mortgage-backed securities - government agencies 170,344 735 2,236 168,843 Obligations of states and political subdivisions 57,158 682 396 57,444 Corporate equity securities 653 46 - 699 Total securities available for sale $ 571,936 $ 2,264 $ 4,126 $ 570,074 Corporate equity securities consist of common stock in a publicly-traded business development company. There were no March 31, 2017 December 31, 2016. Bancorp sold no 2016 three March 31, 2017. A summary of the available-for-sale investment securities by contractual maturity groupings as of March 31, 2017 (in thousands) Securities available-for-sale Amortized cost Fair value Due within 1 year $ 183,351 $ 183,438 Due after 1 but within 5 years 90,361 90,658 Due after 5 but within 10 years 16,240 16,090 Due after 10 years 104,475 104,624 Mortgage-backed securities – government agencies 161,867 160,558 Corporate equity securities 653 776 Total securities available-for-sale $ 556,947 $ 556,144 Actual maturities may may Bancorp pledges portions of its investment securities portfolio to secure public fund deposits, cash balances of certain wealth management and trust accounts, and securities sold under agreements to repurchase. The carrying value of these pledged securities was approximately $355.3 March 31, 2017 $380.4 December 31, 2016. Securities with unrealized losses at March 31, 2017 December 31, 2016, (in thousands) Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2017 value losses value losses value losses Government sponsored enterprise obligations $ 111,725 $ 883 $ 12,887 $ 193 $ 124,612 $ 1,076 Mortgage-backed securities - government agencies 97,143 1,699 9,431 338 106,574 2,037 Obligations of states and political subdivisions 19,096 174 2,537 24 21,633 198 Total temporarily impaired securities $ 227,964 $ 2,756 $ 24,855 $ 555 $ 252,819 $ 3,311 December 31, 2016 Government sponsored enterprise obligations $ 154,951 $ 1,344 $ 3,485 $ 150 $ 158,436 $ 1,494 Mortgage-backed securities - government agencies 115,374 1,873 9,914 363 125,288 2,236 Obligations of states and political subdivisions 29,893 380 1,478 16 31,371 396 Total temporarily impaired securities $ 300,218 $ 3,597 $ 14,877 $ 529 $ 315,095 $ 4,126 Applicable dates for determining when securities are in an unrealized loss position are March 31, 2017 December 31, 2016. twelve 12 Unrealized losses on Bancorp’s investment securities portfolio have not been recognized as an expense because the securities are of high credit quality, and the decline in fair values is due to changes in the prevailing interest rate environment since the purchase date. Fair value is expected to recover as securities reach their maturity date and/or the interest rate environment returns to conditions similar to when these securities were purchased. These investments consist of 90 117 March 31, 2017 December 31, 2016, may not March 31, 2017. FHLB stock and other securities are investments held by Bancorp which are not readily marketable and are carried at cost. This category includes holdings of Federal Home Loan Bank of Cincinnati (FHLB) stock which are required for access to FHLB borrowing, and are classified as restricted securities. |
Note 3 - Loans
Note 3 - Loans | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | (3) Composition of loans, net of deferred fees and costs, by primary loan portfolio class follows: (in thousands) March 31, 2017 December 31, 2016 Commercial and industrial $ 736,633 $ 736,841 Construction and development, excluding undeveloped land 165,832 192,348 Undeveloped land 21,207 21,496 Real estate mortgage: Commercial investment 546,957 538,886 Owner occupied commercial 406,209 408,292 1-4 family residential 244,349 249,498 Home equity - first lien 51,076 55,325 Home equity - junior lien 65,806 67,519 Subtotal: Real estate mortgage 1,314,397 1,319,520 Consumer 34,709 35,170 Total loans $ 2,272,778 $ 2,305,375 The following table presents the balance in the recorded investment in loans and allowance for loan losses by portfolio segment and based on impairment evaluation method as of March 31, 2017 December 31, 2016. (in thousands) Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate March 31, 2017 industrial land land mortgage Consumer Total Loans $ 736,633 $ 165,832 $ 21,207 $ 1,314,397 $ 34,709 $ 2,272,778 Loans collectively evaluated for impairment $ 733,790 $ 165,388 $ 20,733 $ 1,311,537 $ 34,651 $ 2,266,099 Loans individually evaluated for impairment $ 2,843 $ 444 $ 474 $ 2,268 $ 58 $ 6,087 Loans acquired with deteriorated credit quality $ - $ - $ - $ 592 $ - $ 592 Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Total Allowance for loan losses At December 31, 2016 $ 10,483 $ 1,923 $ 684 $ 10,573 $ 344 $ 24,007 Provision (credit) 789 202 (32 ) (75 ) 16 900 Charge-offs (450 ) - - (34 ) (121 ) (605 ) Recoveries 45 - - 27 107 179 At March 31, 2017 $ 10,867 $ 2,125 $ 652 $ 10,491 $ 346 $ 24,481 Allowance for loans collectively evaluated for impairment $ 9,737 $ 2,125 $ 652 $ 10,491 $ 288 $ 23,293 Allowance for loans individually evaluated for impairment $ 1,130 $ - $ - $ - $ 58 $ 1,188 Allowance for loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - (in thousands) Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate December 31, 2016 industrial land land mortgage Consumer Total Loans $ 736,841 $ 192,348 $ 21,496 $ 1,319,520 $ 35,170 $ 2,305,375 Loans collectively evaluated for impairment $ 734,139 $ 191,810 $ 21,022 $ 1,316,400 $ 35,111 $ 2,298,482 Loans individually evaluated for impairment $ 2,682 $ 538 $ 474 $ 2,516 $ 59 $ 6,269 Loans acquired with deteriorated credit quality $ 20 $ - $ - $ 604 $ - $ 624 Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Total Allowance for loan losses At December 31, 2015 $ 8,645 $ 1,760 $ 814 $ 10,875 $ 347 $ 22,441 Provision (credit) 2,775 275 (130 ) (68 ) 148 3,000 Charge-offs (1,216 ) (133 ) - (576 ) (568 ) (2,493 ) Recoveries 279 21 - 342 417 1,059 At December 31, 2016 $ 10,483 $ 1,923 $ 684 $ 10,573 $ 344 $ 24,007 Allowance for loans collectively evaluated for impairment $ 9,276 $ 1,923 $ 683 $ 10,573 $ 285 $ 22,740 Allowance for loans individually evaluated for impairment $ 1,207 $ - $ 1 $ - $ 59 $ 1,267 Allowance for loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - The considerations by Bancorp in computing its allowance for loan losses are determined based on the various risk characteristics of each loan segment. Relevant risk characteristics are as follows: ● Commercial and industrial loans: Loans in this category are made to businesses. Generally these loans are secured by assets of the business and repayment is expected from the cash flows of the business. A decline in the strength of the business or a weakened economy and resultant decreased consumer and/or business spending may ● Construction and development, excluding undeveloped land: Loans in this category primarily include owner-occupied and investment construction loans and commercial development projects. In most cases, construction loans require only interest to be paid during construction. Upon completion or stabilization, the construction loan may ● Undeveloped land: Loans in this category are secured by land acquired for development by the borrower, but for which no development has yet taken place. Credit risk is primarily dependent upon the financial strength of the borrower, and can be affected by market conditions and time to develop land for ultimate sale. Credit risk is also affected by availability of development financing, to the extent such financing is not being provided by Bancorp. ● Real estate mortgage: Loans in this category are made to and secured by owner-occupied residential real estate, owner-occupied real estate used for business purposes, and income-producing investment properties. For owner occupied residential and commercial real estate, repayment is dependent on financial strength of the borrower. For income-producing investment properties, repayment is dependent on financial strength of tenants may may ● Consumer: Loans in this category may Bancorp has loans that were acquired for which there was, at acquisition, evidence of deterioration of credit quality since origination and for which it was probable that all contractually required payments would not be collected. The carrying amount of those loans is included in the balance sheet amounts of loans at March 31, 2017 December 31, 2016. (in thousands) Accretable discount Non- accretable discount Balance at December 31, 2015 $ 3 $ 189 Accretion (3 ) (41 ) Reclassifications from (to) non-accretable discount - - Disposals - - Balance at December 31, 2016 $ - $ 148 Accretion - - Reclassifications from (to) non-accretable discount - - Disposals - - Balance at March 31, 2017 $ - $ 148 The following tables present loans individually evaluated for impairment as of March 31, 2017 December 31, 2016. (in thousands) Unpaid Average Recorded principal Related recorded March 31, 2017 investment balance allowance investment Loans with no related allowance recorded: Commercial and industrial $ 199 $ 708 $ - $ 261 Construction and development, excluding undeveloped land 444 614 - 491 Undeveloped land 474 507 - 353 Real estate mortgage Commercial investment 169 169 - 138 Owner occupied commercial 1,236 1,674 - 1,139 1-4 family residential 688 688 - 792 Home equity - first lien - - - - Home equity - junior lien 175 175 - 324 Subtotal: Real estate mortgage 2,268 2,706 - 2,393 Consumer - - - - Subtotal $ 3,385 $ 4,535 $ - $ 3,498 Loans with an allowance recorded: Commercial and industrial $ 2,644 $ 3,117 $ 1,130 $ 2,501 Construction and development, excluding undeveloped land - - - - Undeveloped land - - - 121 Real estate mortgage Commercial investment - - - - Owner occupied commercial - - - - 1-4 family residential - - - - Home equity - first lien - - - - Home equity - junior lien - - - - Subtotal: Real estate mortgage - - - - Consumer 58 58 58 58 Subtotal $ 2,702 $ 3,175 $ 1,188 $ 2,680 Total: Commercial and industrial $ 2,843 $ 3,825 $ 1,130 $ 2,762 Construction and development, excluding undeveloped land 444 614 - 491 Undeveloped land 474 507 - 474 Real estate mortgage Commercial investment 169 169 - 138 Owner occupied commercial 1,236 1,674 - 1,139 1-4 family residential 688 688 - 792 Home equity - first lien - - - - Home equity - junior lien 175 175 - 324 Subtotal: Real estate mortgage 2,268 2,706 - 2,393 Consumer 58 58 58 58 Total $ 6,087 $ 7,710 $ 1,188 $ 6,178 (in thousands) Unpaid Average Recorded principal Related recorded December 31, 2016 investment balance allowance investment Loans with no related allowance recorded: Commercial and industrial $ 322 $ 465 $ - $ 1,947 Construction and development, excluding undeveloped land 538 708 - 108 Undeveloped land 233 265 - 76 Real estate mortgage Commercial investment 107 107 - 193 Owner occupied commercial 1,042 1,479 - 1,356 1-4 family residential 984 985 - 980 Home equity - first lien - - - 3 Home equity - junior lien 383 383 - 315 Subtotal: Real estate mortgage 2,516 2,954 - 2,847 Consumer - - - 18 Subtotal $ 3,609 $ 4,392 $ - $ 4,996 Loans with an allowance recorded: Commercial and industrial $ 2,360 $ 2,835 $ 1,207 $ 1,619 Construction and development, excluding undeveloped land - - - 182 Undeveloped land 241 241 1 149 Real estate mortgage Commercial investment - - - - Owner occupied commercial - - - 554 1-4 family residential - - - - Home equity - first lien - - - - Home equity - junior lien - - - - Subtotal: Real estate mortgage - - - 554 Consumer 59 59 59 63 Subtotal $ 2,660 $ 3,135 $ 1,267 $ 2,567 Total: Commercial and industrial $ 2,682 $ 3,300 $ 1,207 $ 3,566 Construction and development, excluding undeveloped land 538 708 - 290 Undeveloped land 474 506 1 225 Real estate mortgage - - - - Commercial investment 107 107 - 193 Owner occupied commercial 1,042 1,479 - 1,910 1-4 family residential 984 985 - 980 Home equity - first lien - - - 3 Home equity - junior lien 383 383 - 315 Subtotal: Real estate mortgage 2,516 2,954 - 3,401 Consumer 59 59 59 81 Total $ 6,269 $ 7,527 $ 1,267 $ 7,563 Differences between recorded investment amounts and unpaid principal balance amounts less related allowance are due to partial charge-offs which have occurred over the life of loans. Impaired loans include non-accrual loans and accruing loans accounted for as troubled debt restructurings (TDRs), which continue to accrue interest. Non-performing loans include the balance of impaired loans plus any loans over 90 90 March 31, 2017, $438 December 31, 2016, March 31, 2016. The following table presents the recorded investment in non-accrual loans as of March 31, 2017 December 31, 2016. (in thousands) March 31, 2017 December 31, 2016 Commercial and industrial $ 1,913 $ 1,767 Construction and development, excluding undeveloped land 444 538 Undeveloped land 474 474 Real estate mortgage Commercial investment 169 107 Owner occupied commercial 1,236 1,042 1-4 family residential 688 984 Home equity - first lien - - Home equity - junior lien 175 383 Subtotal: Real estate mortgage 2,268 2,516 Consumer - - Total $ 5,099 $ 5,295 may At March 31, 2017 December 31, 2016, $988 $974 three March 31, 2016. $38,000 March 31, 2017 three March 31, 2017. $39,000. No loans classified and reported as troubled debt restructured within the twelve March 31, 2017 three March 31, 2017. March 31, 2017, $339 $207 December 31, 2016. At March 31, 2017 December 31, 2016, At March 31, 2017 five $639 $30 $524 March 31, 2017. The following table presents the aging of the recorded investment in loans as of March 31, 2017 December 31, 2016. Recorded (in thousands) 90 or more investment days past > 90 days 30-59 days 60-89 days due (includes) Total Total and March 31, 2017 Current past due past due non-accrual) past due loans accruing Commercial and industrial $ 730,458 $ 4,262 $ - $ 1,913 $ 6,175 $ 736,633 $ - Construction and development, excluding undeveloped land 165,363 25 - 444 469 165,832 - Undeveloped land 20,733 - - 474 474 21,207 - Real estate mortgage Commercial investment 545,153 903 732 169 1,804 546,957 - Owner occupied commercial 404,628 345 - 1,236 1,581 406,209 - 1-4 family residential 240,903 2,362 396 688 3,446 244,349 - Home equity - first lien 51,073 3 - - 3 51,076 - Home equity - junior lien 65,463 168 - 175 343 65,806 - Subtotal: Real estate mortgage 1,307,220 3,781 1,128 2,268 7,177 1,314,397 - Consumer 34,707 - 2 - 2 34,709 - Total $ 2,258,481 $ 8,068 $ 1,130 $ 5,099 $ 14,297 $ 2,272,778 $ - December 31, 2016 Commercial and industrial $ 734,682 $ 84 $ 290 $ 1,785 $ 2,159 $ 736,841 $ 18 Construction and development, excluding undeveloped land 191,810 - - 538 538 192,348 - Undeveloped land 21,022 - - 474 474 21,496 - Real estate mortgage Commercial investment 537,998 631 64 193 888 538,886 86 Owner occupied commercial 406,726 342 - 1,224 1,566 408,292 182 1-4 family residential 246,730 1,174 576 1,018 2,768 249,498 34 Home equity - first lien 55,027 231 21 46 298 55,325 46 Home equity - junior lien 66,911 99 126 383 608 67,519 72 Subtotal: Real estate mortgage 1,313,392 2,477 787 2,864 6,128 1,319,520 420 Consumer 34,965 28 105 72 205 35,170 - Total $ 2,295,871 $ 2,589 $ 1,182 $ 5,733 $ 9,504 $ 2,305,375 $ 438 Consistent with regulatory guidance, Bancorp categorizes loans into credit risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends. Pass-rated loans included all risk-rated loans other than those classified as other assets especially mentioned, substandard, and doubtful, which are defined below: ● Other assets especially mentioned (“OAEM”): Loans classified as OAEM have potential weaknesses that deserve management's close attention. These potential weaknesses may ● Substandard: Loans classified as substandard are inadequately protected by the paying capacity of the obligor or of collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize repayment of the debt. Default is a distinct possibility if the deficiencies are not corrected. ● Substandard non-performing: Loans classified as substandard non-performing have all the characteristics of substandard loans and have been placed on non-accrual status or have been accounted for as troubled debt restructurings. Loans are placed on non-accrual status when prospects for recovering both principal and accrued interest are considered doubtful or when a default of principal or interest has existed for 90 ● Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. As of March 31, 2017 December 31, 2016, (in thousands) Substandard Total March 31, 2017 Pass OAEM Substandard non-performing Doubtful loans Commercial and industrial $ 710,959 $ 16,489 $ 6,342 $ 2,843 $ - $ 736,633 Construction and development, excluding undeveloped land 165,063 - 325 444 - 165,832 Undeveloped land 20,703 - 30 474 - 21,207 Real estate mortgage Commercial investment 546,391 375 22 169 - 546,957 Owner occupied commercial 395,895 6,989 2,089 1,236 - 406,209 1-4 family residential 242,341 431 889 688 - 244,349 Home equity - first lien 50,901 - - 175 - 51,076 Home equity - junior lien 65,429 53 324 - - 65,806 Subtotal: Real estate mortgage 1,300,957 7,848 3,324 2,268 - 1,314,397 Consumer 34,545 106 - 58 - 34,709 Total $ 2,232,227 $ 24,443 $ 10,021 $ 6,087 $ - $ 2,272,778 December 31, 2016 Commercial and industrial $ 714,025 $ 14,266 $ 5,850 $ 2,700 $ - $ 736,841 Construction and development, excluding undeveloped land 191,455 - 355 538 - 192,348 Undeveloped land 21,022 - - 474 - 21,496 Real estate mortgage Commercial investment 538,688 - 5 193 - 538,886 Owner occupied commercial 396,997 7,960 2,111 1,224 - 408,292 1-4 family residential 247,888 - 592 1,018 - 249,498 Home equity - first lien 55,279 - - 46 - 55,325 Home equity - junior lien 66,710 - 426 383 - 67,519 Subtotal: Real estate mortgage 1,305,562 7,960 3,134 2,864 - 1,319,520 Consumer 35,039 - - 131 - 35,170 Total $ 2,267,103 $ 22,226 $ 9,339 $ 6,707 $ - $ 2,305,375 |
Note 4 - Deposits
Note 4 - Deposits | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | (4) Deposits The composition of the Bank’s deposits outstanding at March 31, 2017 December 31, 2016 March 31 , December 31, (In thousands) 2017 201 6 Non-interest bearing demand $ 686,535 $ 680,156 Interest bearing deposits: Interest bearing demand 765,632 768,139 Savings 146,387 140,030 Money market 703,421 682,421 Time deposits of more than $250,000 37,359 40,427 Other time deposits 204,921 209,375 Total time deposits 242,280 249,802 Total interest bearing deposits 1,857,720 1,840,392 Total deposits $ 2,544,255 $ 2,520,548 Maturities of time deposits of more than $250,000, March 31, 2017, (In thousands) Amount 3 months or less $ 13,136 Over 3 through 6 months 5,894 Over 6 through 12 months 9,209 Over 1 through 3 years 5,601 Over 3 years 3,519 Total $ 37,359 |
Note 5 - Securities Sold Under
Note 5 - Securities Sold Under Agreements to Repurchase | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Securities Sold Under Agreements To Repurchase [Text Block] | (5) Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase, which represent excess funds from commercial customers as part of a cash management service, totaled $65.7 $67.6 March 31, 2017 December 31, 2016, March 31, 2017, |
Note 6 - Federal Home Loan Bank
Note 6 - Federal Home Loan Bank Advances | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | (6) Federal Home Loan Bank Advances Bancorp had outstanding borrowings totaling of $50.8 $51.1 March 31, 2017 December 31, 2016, 14 March 31, 2017, two $30 $20.8 The following is a summary of the contractual maturities and average effective rates of outstanding advances: (In thousands) March 31, 2017 December 31, 2016 Year Advance Fixed Rate Advance Fixed Rate 2017 $ 30,000 0.92 % $ 30,000 0.70 % 2020 1,778 2.23 1,790 2.23 2021 341 2.12 359 2.12 2024 2,611 2.36 2,661 2.36 2025 5,889 2.43 6,025 2.43 2026 8,843 1.99 8,936 1.99 2028 1,293 1.48 1,304 1.48 Total $ 50,755 1.42 % $ 51,075 1.30 % Advances from the FHLB are collateralized by certain commercial and residential real estate mortgage loans under a blanket mortgage collateral agreement and FHLB stock. Bancorp believes these borrowings to be an effective alternative to higher cost time deposits to manage interest rate risk associated with long-term fixed rate loans. At March 31, 2017, $500.1 |
Note 7 - Other Comprehensive In
Note 7 - Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | (7) The following table illustrates activity within the balances in accumulated other comprehensive income by component, and is shown for the three March 31, 2017 2016. Net unrealized Net unrealized Minimum gains on gains (losses) pension securities on cash liability (in thousands) available-for-sale flow hedges adjustment Total Balance at December 31, 2015 $ 965 $ (60 ) $ (273 ) $ 632 Net current period other comprehensive gain (loss) 3,653 (339 ) - 3,314 Balance at March 31, 2016 $ 4,618 $ (399 ) $ (273 ) $ 3,946 Balance at December 31, 2016 $ (1,211 ) $ (16 ) $ (272 ) $ (1,499 ) Net current period other comprehensive income gain (loss) 689 85 - 774 Balance at March 31, 2017 $ (522 ) $ 69 $ (272 ) $ (725 ) |
Note 8 - Derivative Financial I
Note 8 - Derivative Financial Instruments | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | (8) Occasionally, Bancorp enters into free-standing interest rate swaps for the benefit of its commercial customers who desire to hedge their exposure to rising interest rates. Bancorp offsets its interest rate exposure on these transactions by entering into offsetting swap agreements with substantially matching terms with approved reputable independent counterparties. These undesignated derivative instruments are recognized on the consolidated balance sheet at fair value. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition are expected to have an insignificant effect on earnings. Exchanges of cash flows related to the undesignated interest rate swap agreements for the first three 2017 Interest rate swap agreements derive their value from underlying interest rates. These transactions involve both credit and market risk. Notional amounts are amounts on which calculations, payments, and the value of the derivative are based. Notional amounts do not represent direct credit exposures. Direct credit exposure is limited to the net difference between the calculated amounts to be received and paid, if any. Bancorp is exposed to credit-related losses in the event of nonperformance by counterparties to these agreements. Bancorp mitigates the credit risk of its financial contracts through credit approvals, limits, collateral, and monitoring procedures, and does not expect any counterparties to fail their obligations. At March 31, 2017 December 31, 2016, (dollar amounts in thousands) Receiving Paying March 31, December 31, March 31, December 31, 2017 2016 2017 2016 Notional amount $ 43,380 $ 43,986 $ 43,380 $ 43,986 Weighted average maturity (years) 9.7 9.9 9.7 9.9 Fair value $ (331 ) $ (178 ) $ 331 $ 178 In 2016, $10 three December 6, 2016 December 6, 2021. 2015, $20 three December 9, 2015 December 6, 2020. The following table details Bancorp’s derivative position designated as a cash flow hedge, and the fair values as of March 31, 2017 December 31, 2016. (dollars in thousands) Fair Value Notional Maturity Receive (variable) Pay fixed assets (liabilities) amount date index swap rate March 31, 2017 December 31, 2016 $ 10,000 12/6/2021 US 3 Month LIBOR 1.89 % $ 46 $ 16 20,000 12/6/2020 US 3 Month LIBOR 1.79 % 61 9 $ 30,000 1.82 % $ 107 $ 25 |
Note 9 - Goodwill and Intangibl
Note 9 - Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | (9) US GAAP requires that goodwill and intangible assets with indefinite useful lives not be amortized, but instead be tested for impairment at least annually. Annual evaluations have resulted in no $682 1996 Bancorp recorded a gross core deposit intangible totaling $2.5 2013 March 31, 2017, $1.4 Mortgage servicing rights (MSRs) are initially recognized at fair value when mortgage loans are sold with servicing retained. The MSRs are amortized in proportion to and over the period of estimated net servicing income, considering appropriate prepayment assumptions. MSRs are evaluated quarterly for impairment by comparing carrying value to fair value. Estimated fair values of MSRs at March 31, 2017 December 31, 2016 $2.8 $2.7 $365.0 $372.2 March 31, 2017, December 31, 2016, Changes in the net carrying amount of MSRs for the three March 31, 2017 2016 For the three months ended March 31, (in thousands) 2017 2016 Balance at beginning of period $ 921 $ 1,018 Additions for mortgage loans sold 42 29 Amortization (72 ) (58 ) Balance at end of period $ 891 $ 989 |
Note 10 - Defined Benefit Retir
Note 10 - Defined Benefit Retirement Plan | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | (10) Bancorp sponsors an unfunded, non-qualified, defined benefit retirement plan for three (two one 25 one one June 2017. $34 $33 three March 31, 2017 2016, |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | (11) As of March 31, 2017, March 31, 2017 $651.2 $14.1 $628.3 $15.6 December 31, 2016. may March 31, 2017, $350 Standby letters of credit and financial guarantees written are conditional commitments issued by Bancorp to guarantee the performance of a customer to a first one two Also, as of March 31, 2017, |
Note 12 - Preferred Stock
Note 12 - Preferred Stock | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | (12) Bancorp has a class of preferred stock ( no 1,000,000 None |
Note 13 - Stock Split
Note 13 - Stock Split | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note, Stock Split [Text Block] | (13) Stock Split On April 29, 2016 3 2 50% May 13, 2016, May 27, 2016. |
Note 14 - Stock-based Compensat
Note 14 - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | (14) The fair value of all awards granted, net of estimated forfeitures, is recognized as compensation expense over the respective service period. Bancorp currently has one 2015 2015 2005 2015 2005 April 2015. 2005 March 31, 2017. 2005 2025. March 31, 2017, 273,302 Options, which have not been granted since 2007, 20% March 31, 2017, 20% ten Restricted shares granted to officers vest over five 2015, 2015, 2016, 2017, Grants of performance stock units (“PSUs”) vest based upon service and a single three January 1 first 2015, one 2015, 2016 2017, 4.80%, 4.50% 5.12%, Grants of restricted stock units (“RSUs”) to directors are time-based and vest 12 Bancorp has recognized stock-based compensation expense, within salaries and employee benefits for employees, and within other non-interest expense for directors, in the consolidated statements of income as follows: For three months ended March 31, (in thousands) 2017 2016 Stock-based compensation expense before income taxes $ 660 $ 513 Less: deferred tax benefit (231 ) (180 ) Reduction of net income $ 429 $ 333 Bancorp’s net income for the three March 31, 2017 2016 09 2017 2017 three March 31, 2017 $1.0 Bancorp expects to record an additional $2.1 2017 March 31, 2017. March 31, 2017, $6.4 five $216 first three 2017 $495 first three 2016 Fair values of Bancorp’s stock options and SARs are estimated at the date of grant using the Black-Scholes option pricing model, a leading formula for calculating the value of stock options and SARs. This model requires the input of assumptions, changes to which can materially affect the fair value estimate. Fair value of restricted shares is determined by Bancorp’s closing stock price on the date of grant. The following assumptions were used in SAR valuations at the grant date in each year: 2017 2016 Dividend yield 2.72 % 2.94 % Expected volatility 19.47 % 19.31 % Risk free interest rate 2.29 % 1.70 % Expected life of SARs (years) 7.0 7.3 Dividend yield and expected volatility are based on historical information for Bancorp corresponding to the expected life of options and SARs granted. Expected volatility is the volatility of the underlying shares for the expected term on a monthly basis. The risk free interest rate is the implied yield currently available on U.S. Treasury issues with a remaining term equal to the expected life of the options. The expected life of SARs is based on actual experience of past like-term SARs. Bancorp evaluates historical exercise and post-vesting termination behavior when determining the expected life. A summary of stock option and SARs activity and related information for the twelve December 31, 2016 three March 31, 2017 Weighted Weighted Aggregate Weighted average Options average intrinsic average remaining and SARs Exercise exercise value fair contractual (in thousands) price price (in thousands) value life (in years) At December 31, 2015 Vested and exercisable 656 $14.02 - 19.44 $ 15.75 $ 6,191 $ 3.39 3.7 Unvested 266 15.24 - 24.55 18.66 1,733 3.29 7.7 Total outstanding 922 14.02 - 24.55 16.59 7,924 3.36 4.8 Granted 88 25.76 - 33.08 25.84 1,866 3.56 Exercised (272 ) 14.02 - 17.89 16.38 4,155 3.73 Forfeited (3 ) 14.02 - 15.84 15.18 60 2.94 At December 31, 2016 Vested and exercisable 475 14.02 - 24.56 15.72 14,820 3.16 4.3 Unvested 260 15.24 - 33.08 21.53 6,623 3.43 7.8 Total outstanding 735 14.02 - 33.08 17.78 21,443 3.26 5.5 Granted 46 40.00 - 40.00 40.00 30 6.34 Exercised (15 ) 14.02 - 17.89 15.60 474 3.56 Forfeited - - - - - At March 31, 2017 Vested and exercisable 550 14.02 - 25.76 16.33 13,384 3.15 4.5 Unvested 216 15.24 - 40.00 26.43 3,068 4.17 8.4 Total outstanding 766 14.02 - 40.00 19.17 $ 16,452 3.44 5.6 Vested year-to-date 91 $15.24 - 25.76 $ 19.34 $ 1,942 $ 3.18 Intrinsic value for stock options and SARs is defined as the amount by which the current market price of the underlying stock exceeds the exercise or grant price. A summary of activity for the periods ending December 31, 2016 March 31, 2017 Grant date weighted- Number average cost Unvested at December 31, 2015 155,858 $ 18.98 Shares awarded 51,122 25.78 Restrictions lapsed and shares released (49,265 ) 17.98 Shares forfeited (12,480 ) 20.69 Unvested at December 31, 2016 145,235 $ 21.57 Shares awarded 28,625 44.85 Restrictions lapsed and shares released (46,052 ) 19.73 Shares forfeited (3,009 ) 21.85 Unvested at March 31, 2017 124,799 $ 27.58 Bancorp awarded performance-based restricted stock units (“PSUs”) to executive officers of Bancorp, the single three January 1 Vesting Expected Grant period Fair shares to year in years value be awarded 2015 3 $ 20.02 51,910 2016 3 22.61 58,786 2017 3 35.66 24,756 In the first 2017, 4,680 $220 |
Note 15 - Net Income Per Share
Note 15 - Net Income Per Share | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | (15) The following table reflects, for the three March 31, 2017 2016, Three months ended (In thousands, except per share data) March 31, 2017 2016 Net income $ 10,791 $ 9,835 Average shares outstanding 22,492 22,254 Dilutive securities 510 338 Average shares outstanding including dilutive securities 23,002 22,592 Net income per share, basic $ 0.48 $ 0.44 Net income per share, diluted $ 0.47 $ 0.44 |
Note 16 - Segments
Note 16 - Segments | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | (16) Segments Bancorp’s principal activities include commercial banking and wealth management and trust. Commercial banking provides a full range of loan and deposit products to individual consumers and businesses. Commercial banking also includes Bancorp’s mortgage origination and securities brokerage activity. Wealth management and trust provides financial management services including investment management, trust and estate administration, and retirement plan services. Financial information for each business segment reflects that which is specifically identifiable or allocated based on an internal allocation method. Income taxes are allocated based on the effective federal income tax rate adjusted for any tax exempt activity. All tax exempt activity and provision for loan losses have been allocated to the commercial banking segment. Measurement of performance of business segments is based on the management structure of Bancorp and is not necessarily comparable with similar information for any other financial institution. Information presented is also not necessarily indicative of the segments’ operations if they were independent entities. Principally, all of the net assets of Stock Yards Bancorp, Inc. are involved in the commercial banking segment. Bancorp has goodwill of $682,000 1996 Selected financial information by business segment for the three March 31, 2017 2016 Wealth Commercial management (in thousands) banking and trust Total Three months ended March 31, 2017 Net interest income $ 25,107 $ 77 $ 25,184 Provision for loan losses 900 - 900 Wealth management and trust services - 5,094 5,094 All other non-interest income 5,703 - 5,703 Non-interest expense 18,101 3,047 21,148 Income before income taxes 11,809 2,124 13,933 Income tax expense 2,384 758 3,142 Net income $ 9,425 $ 1,366 $ 10,791 Segment assets $ 3,031,318 $ 2,025 $ 3,033,343 Three months ended March 31, 2016 Net interest income $ 23,407 $ 62 $ 23,469 Provision (credit) for loan losses 500 - 500 Wealth management and trust services - 4,612 4,612 All other non-interest income 5,470 - 5,470 Non-interest expense 16,896 2,644 19,540 Income before income taxes 11,481 2,030 13,511 Income tax expense 2,951 725 3,676 Net income $ 8,530 $ 1,305 $ 9,835 Segment assets $ 2,823,861 $ 246 $ 2,824,107 |
Note 17 - Income Taxes
Note 17 - Income Taxes | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | (17) Components of income tax expense from operations were as follows: Three months ended March 31, (in thousands) 2017 2016 Current income tax expense Federal $ 3,003 $ 2,373 State 114 124 Total current income tax expense 3,117 2,497 Deferred income tax (benefit) expense Federal (26 ) 1,101 State 38 78 Total deferred income tax expense 12 1,179 Change in valuation allowance 13 - Total income tax expense $ 3,142 $ 3,676 An analysis of the difference between statutory and effective income tax rates for the three March 31, 2017 2016 Three months ended March 31, 2017 2016 U.S. federal statutory income tax rate 35.0 % 35.0 % Excess tax benefits from share-based compensation arrangements (7.1 ) - Tax credits (5.5 ) (9.7 ) Tax exempt interest income (1.1 ) (1.3 ) Increase in cash surrender value of life insurance (1.3 ) (0.8 ) State income taxes, net of federal benefit 0.7 1.0 Other, net 1.9 3.0 Effective income tax rate 22.6 % 27.2 % State income tax expense represents tax owed in Indiana. Kentucky and Ohio state bank taxes are based on capital levels, and are recorded as other non-interest expense. Bancorp’s results for first 2017 2016 09, December 15, 2016, 2016 09 2017 2017, three March 31, 2017 $1.0 US GAAP provides guidance on financial statement recognition and measurement of tax positions taken, or expected to be taken, in tax returns. If recognized, tax benefits would reduce tax expense and accordingly, increase net income. The amount of unrecognized tax benefits may March 31, 2017 December 31, 2016, 2012. |
Note 18 - Assets and Liabilitie
Note 18 - Assets and Liabilities Measured and Reported at Fair Value | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | (18) Bancorp follows the provisions of authoritative guidance for fair value measurements. This guidance is definitional and disclosure oriented and addresses how companies should approach measuring fair value when required by US GAAP. The guidance also prescribes various disclosures about financial statement categories and amounts which are measured at fair value, if such disclosures are not already specified elsewhere in US GAAP. Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between participants at the measurement date. The guidance also establishes a hierarchy to group assets and liabilities carried at fair value in three ● Level 1: ● Level 2: ● Level 3: Authoritative guidance requires maximum use of observable inputs and minimum use of unobservable inputs in fair value measurements. Where there exists limited or no observable market data, Bancorp derives its own estimates by generally considering characteristics of the asset/liability, the current economic and competitive environment and other factors. For this reason, results cannot be determined with precision and may Bancorp’s investment securities available-for-sale and interest rate swaps are recorded at fair value on a recurring basis. Other accounts including mortgage servicing rights, impaired loans and other real estate owned may The portfolio of investment securities available-for-sale is comprised of U.S. Treasury and other U.S. government obligations, debt securities of U.S. government-sponsored corporations (including mortgage-backed securities), obligations of state and political subdivisions and corporate equity securities. U.S. Treasury and corporate equity securities are priced using quoted prices of identical securities in an active market. These measurements are classified as Level 1 2 Interest rate swaps are valued using primarily Level 2 2017. Below are the carrying values of assets measured at fair value on a recurring basis. (in thousands) Fair value at March 31, 2017 Assets Total Level 1 Level 2 Level 3 Investment securities available-for-sale Government sponsored enterprise obligations $ 339,946 $ - $ 339,946 $ - Mortgage-backed securities - government agencies 160,558 - 160,558 - Obligations of states and political subdivisions 54,864 - 54,864 - Corporate equity securities 776 776 - - Total investment securities available-for-sale 556,144 776 555,368 - Interest rate swaps 438 - 438 - Total assets $ 556,582 $ 776 $ 555,806 $ - Liabilities Interest rate swaps $ 331 $ - $ 331 $ - (in thousands) Fair value at December 31, 2016 Assets Total Level 1 Level 2 Level 3 Investment securities available-for-sale U.S. Treasury and other U.S. government obligations $ 74,998 $ 74,998 $ - $ - Government sponsored enterprise obligations 268,090 - 268,090 - Mortgage-backed securities - government agencies 168,843 - 168,843 - Obligations of states and political subdivisions 57,444 - 57,444 - Corporate equity securities 699 699 - - Total investment securities available-for-sale 570,074 75,697 494,377 - Interest rate swaps 203 - 203 - Total assets $ 570,277 $ 75,697 $ 494,580 $ - Liabilities Interest rate swaps $ 178 $ - $ 178 $ - Bancorp had no 3 March 31, 2017 December 31, 2016. MSRs are recorded at fair value upon capitalization, are amortized to correspond with estimated servicing income, and are periodically assessed for impairment based on fair value at the reporting date. Fair value is based on a valuation model that calculates the present value of estimated net servicing income. The model incorporates assumptions that market participants would use in estimating future net servicing income. These measurements are classified as Level 3. March 31, 2017 December 31, 2016 no March 31, 2017 December 31, 2016. 9 For impaired loans in the table below, the fair value is calculated as the carrying value of only loans with a specific valuation allowance, less the specific allowance. Fair value of impaired loans was primarily measured based on the value of the collateral securing these loans. Impaired loans are classified within Level 3 may may may third March 31, 2017, $2.7 $1.2 $1.5 $2.7 $1.3 $1.4 December 31, 2016. Other real estate owned (“OREO”), which is carried at the lower of cost or fair value, is periodically assessed for impairment based on fair value at the reporting date. Fair value is based on appraisals performed by external parties which use judgments and assumptions that are property-specific and sensitive to changes in the overall economic environment. Appraisals may 3. March 31, 2017 December 31, 2016, $4.0 $5.0 Below are the carrying values of assets measured at fair value on a non-recurring basis. (in thousands) Fair value at March 31, 2017 Losses for 3 month period ended Total Level 1 Level 2 Level 3 March 31, 2017 Impaired loans $ 1,523 $ - $ - $ 1,523 $ (452 ) Other real estate owned 3,444 - - 3,444 - Total $ 4,967 $ - $ - $ 4,967 $ (452 ) (in thousands) Fair value at December 31, 2016 Losses for 3 month period ended Total Level 1 Level 2 Level 3 March 31, 2016 Impaired loans $ 1,393 $ - $ - $ 1,393 $ (406 ) Other real estate owned 4,488 - - 4,488 - Total $ 5,881 $ - $ - $ 5,881 $ (406 ) For the securities portfolio, Bancorp monitors the valuation technique used by pricing agencies to ascertain when transfers between levels have occurred. The nature of other assets and liabilities measured at fair value is such that transfers in and out of any level are expected to be rare. For the three March 31, 2017, 1, 2, 3. 3 March 31, 2017, Significant Weighted Fair Valuation unobservable average of (Dollars in thousands) Value technique input input Impaired loans - collateral dependent $ 1,754 Appraisal Appraisal discounts 8.8 % Other real estate owned 3,444 Appraisal Appraisal discounts 21.4 |
Note 19 - Disclosure of Financi
Note 19 - Disclosure of Financial Instruments Not Reported at Fair Value | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | (19) US GAAP requires disclosure of the fair value of financial assets and liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. Carrying amounts, estimated fair values, and placement in the fair value hierarchy of Bancorp’s financial instruments are as follows: (in thousands) Carrying March 31, 2017 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 89,481 $ 89,481 $ 89,481 $ - $ - Mortgage loans held for sale 3,884 4,024 - 4,024 - Federal Home Loan Bank stock and other securities 6,347 6,347 - 6,347 - Loans, net 2,248,297 2,246,045 - - 2,246,045 Accrued interest receivable 7,461 7,461 7,461 - - Financial liabilities Deposits 2,544,255 2,543,248 - - 2,543,248 Short-term borrowings 76,676 76,676 - 76,676 - FHLB advances 50,755 50,636 - 50,636 - Accrued interest payable 156 156 156 - - (in thousands) Carrying December 31, 2016 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 47,973 $ 47,973 $ 47,973 $ - $ - Mortgage loans held for sale 3,213 3,481 - 3,481 - Federal Home Loan Bank stock and other securities 6,347 6,347 - 6,347 - Loans, net 2,281,368 2,284,569 - - 2,284,569 Accrued interest receivable 6,878 6,878 6,878 - - Financial liabilities Deposits 2,520,548 2,519,725 - - 2,519,725 Short-term borrowings 114,969 114,969 - 114,969 - FHLB advances 51,075 50,806 - 50,806 - Accrued interest payable 144 144 144 - - Management used the following methods and assumptions to estimate the fair value of each class of financial instrument for which it is practicable to estimate the value. Cash, short-term investments, accrued interest receivable/payable and short-term borrowings For these short-term instruments, carrying amount is a reasonable estimate of fair value. Mortgage loans held for sale Mortgage loans held for sale are initially recorded at the lower of cost or market value. The portfolio is comprised of residential real estate loans and fair value is determined by market quotes for similar loans based on loan type, term, rate, size and the borrower’s credit score. Federal Home Loan Bank stock and other securities For these securities without readily available market values, carrying amount is a reasonable estimate of fair value as it equals the amount due from FHLB or other issuer at upon redemption. Loans, net US GAAP prescribes the exit price concept for estimating fair value of loans. Because there is not an active market (exit price) for trading virtually all types of loans in Bancorp’s portfolio, fair value of loans is estimated by discounting future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities (entrance price). Deposits Fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date. Fair value of fixed-rate certificates of deposits is estimated by discounting future cash flows using the rates currently offered for deposits of similar remaining maturities. Federal Home Loan Bank advances Fair value of FHLB advances is estimated by discounting future cash flows using estimates of current market rate for instruments with similar terms and remaining maturities. Commitments to extend credit and standby letters of credit Fair values of commitments to extend credit are estimated using fees currently charged to enter into similar agreements and creditworthiness of customers. Fair values of standby letters of credit are based on fees currently charged for similar agreements or estimated cost to terminate them or otherwise settle obligations with counterparties at the reporting date. Fair value of commitments to extend credit, letters of credit and lines of credit is not presented since management believes the fair value to be insignificant. Limitations Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. Because no market exists for a significant portion of Bancorp’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Therefore, calculated fair value estimates in many instances cannot be substantiated by comparison to independent markets and, in many cases, may |
Note 20 - Regulatory Matters
Note 20 - Regulatory Matters | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | (20) Regulatory Matters Bancorp and the Bank are subject to various capital requirements prescribed by banking regulations and administered by state and federal banking agencies. Under these requirements, Bancorp and the Bank must meet minimum amounts and percentages of Tier 1, 1, 1 may In 2013, January 1, 2015, March 31, 2017. The following table sets forth consolidated Bancorp’s and the Bank’s risk based capital amounts and ratios as of March 31, 2017 December 31, 2016. (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized March 31, 2017 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 343,918 13.49 % $ 203,954 8.00 % NA NA Bank 331,948 13.05 203,493 8.00 $ 254,366 10.00 % Common equity tier 1 risk-based capital Consolidated 319,032 12.51 114,760 4.50 NA NA Bank 307,062 12.07 114,480 4.50 152,641 6.00 Tier 1 risk-based capital (1) Consolidated 319,032 12.51 153,013 6.00 NA NA Bank 307,062 12.07 152,641 6.00 152,641 6.00 Leverage (2) Consolidated 319,032 10.64 119,937 4.00 NA NA Bank 307,062 10.25 119,829 4.00 149,786 5.00 (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 338,525 13.04 % $ 207,684 8.00 % NA NA Bank 325,630 12.57 207,243 8.00 $ 259,053 10.00 % Common equity tier 1 risk-based capital Consolidated 314,147 12.10 116,832 4.50 NA NA Bank 301,252 11.63 116,564 4.50 155,418 6.00 Tier 1 risk-based capital (1) Consolidated 314,147 12.10 155,775 6.00 NA NA Bank 301,252 11.63 155,418 6.00 155,418 6.00 Leverage (2) Consolidated 314,147 10.54 119,221 4.00 NA NA Bank 301,252 10.11 119,190 4.00 148,987 5.00 (1) Ratio is computed in relation to risk-weighted assets. (2) Ratio is computed in relation to average assets. NA Not applicable. Regulatory framework does not define well capitalized for holding companies. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | The allowance for loan losses is management’s estimate of probable losses inherent in the loan portfolio as of the balance sheet date. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management has identified the accounting policy related to the allowance and provision for loan losses as critical to the understanding of Bancorp’s results of operations and discussed this conclusion with the Audit Committee of the Board of Directors. Since the application of this policy requires significant management assumptions and estimates, it could result in materially different amounts to be reported if conditions or underlying circumstances were to change. The provision for loan losses reflects an allowance methodology driven by risk ratings, historical losses, specific loan loss allocations, and qualitative factors. Assumptions include many factors such as changes in borrowers’ financial condition which can change quickly or historical loss ratios related to certain loan portfolios which may may first 2017, 24 28 Bancorp’s allowance calculation includes allocations to loan portfolio segments at March 31, 2017 may |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | (in thousands) Amortized Unrealized Fair March 31, 2017 cost Gains Losses value Government sponsored enterprise obligations $ 340,122 $ 900 $ 1,076 $ 339,946 Mortgage-backed securities - government agencies 161,867 728 2,037 160,558 Obligations of states and political subdivisions 54,305 757 198 54,864 Corporate equity securities 653 123 - 776 Total securities available for sale $ 556,947 $ 2,508 $ 3,311 $ 556,144 December 31, 2016 U.S. Treasury and other U.S. Government obligations $ 74,997 $ 1 $ - $ 74,998 Government sponsored enterprise obligations 268,784 800 1,494 268,090 Mortgage-backed securities - government agencies 170,344 735 2,236 168,843 Obligations of states and political subdivisions 57,158 682 396 57,444 Corporate equity securities 653 46 - 699 Total securities available for sale $ 571,936 $ 2,264 $ 4,126 $ 570,074 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (in thousands) Securities available-for-sale Amortized cost Fair value Due within 1 year $ 183,351 $ 183,438 Due after 1 but within 5 years 90,361 90,658 Due after 5 but within 10 years 16,240 16,090 Due after 10 years 104,475 104,624 Mortgage-backed securities – government agencies 161,867 160,558 Corporate equity securities 653 776 Total securities available-for-sale $ 556,947 $ 556,144 |
Schedule of Unrealized Loss on Investments [Table Text Block] | (in thousands) Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2017 value losses value losses value losses Government sponsored enterprise obligations $ 111,725 $ 883 $ 12,887 $ 193 $ 124,612 $ 1,076 Mortgage-backed securities - government agencies 97,143 1,699 9,431 338 106,574 2,037 Obligations of states and political subdivisions 19,096 174 2,537 24 21,633 198 Total temporarily impaired securities $ 227,964 $ 2,756 $ 24,855 $ 555 $ 252,819 $ 3,311 December 31, 2016 Government sponsored enterprise obligations $ 154,951 $ 1,344 $ 3,485 $ 150 $ 158,436 $ 1,494 Mortgage-backed securities - government agencies 115,374 1,873 9,914 363 125,288 2,236 Obligations of states and political subdivisions 29,893 380 1,478 16 31,371 396 Total temporarily impaired securities $ 300,218 $ 3,597 $ 14,877 $ 529 $ 315,095 $ 4,126 |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (in thousands) March 31, 2017 December 31, 2016 Commercial and industrial $ 736,633 $ 736,841 Construction and development, excluding undeveloped land 165,832 192,348 Undeveloped land 21,207 21,496 Real estate mortgage: Commercial investment 546,957 538,886 Owner occupied commercial 406,209 408,292 1-4 family residential 244,349 249,498 Home equity - first lien 51,076 55,325 Home equity - junior lien 65,806 67,519 Subtotal: Real estate mortgage 1,314,397 1,319,520 Consumer 34,709 35,170 Total loans $ 2,272,778 $ 2,305,375 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (in thousands) Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate March 31, 2017 industrial land land mortgage Consumer Total Loans $ 736,633 $ 165,832 $ 21,207 $ 1,314,397 $ 34,709 $ 2,272,778 Loans collectively evaluated for impairment $ 733,790 $ 165,388 $ 20,733 $ 1,311,537 $ 34,651 $ 2,266,099 Loans individually evaluated for impairment $ 2,843 $ 444 $ 474 $ 2,268 $ 58 $ 6,087 Loans acquired with deteriorated credit quality $ - $ - $ - $ 592 $ - $ 592 Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Total Allowance for loan losses At December 31, 2016 $ 10,483 $ 1,923 $ 684 $ 10,573 $ 344 $ 24,007 Provision (credit) 789 202 (32 ) (75 ) 16 900 Charge-offs (450 ) - - (34 ) (121 ) (605 ) Recoveries 45 - - 27 107 179 At March 31, 2017 $ 10,867 $ 2,125 $ 652 $ 10,491 $ 346 $ 24,481 Allowance for loans collectively evaluated for impairment $ 9,737 $ 2,125 $ 652 $ 10,491 $ 288 $ 23,293 Allowance for loans individually evaluated for impairment $ 1,130 $ - $ - $ - $ 58 $ 1,188 Allowance for loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - (in thousands) Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate December 31, 2016 industrial land land mortgage Consumer Total Loans $ 736,841 $ 192,348 $ 21,496 $ 1,319,520 $ 35,170 $ 2,305,375 Loans collectively evaluated for impairment $ 734,139 $ 191,810 $ 21,022 $ 1,316,400 $ 35,111 $ 2,298,482 Loans individually evaluated for impairment $ 2,682 $ 538 $ 474 $ 2,516 $ 59 $ 6,269 Loans acquired with deteriorated credit quality $ 20 $ - $ - $ 604 $ - $ 624 Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Total Allowance for loan losses At December 31, 2015 $ 8,645 $ 1,760 $ 814 $ 10,875 $ 347 $ 22,441 Provision (credit) 2,775 275 (130 ) (68 ) 148 3,000 Charge-offs (1,216 ) (133 ) - (576 ) (568 ) (2,493 ) Recoveries 279 21 - 342 417 1,059 At December 31, 2016 $ 10,483 $ 1,923 $ 684 $ 10,573 $ 344 $ 24,007 Allowance for loans collectively evaluated for impairment $ 9,276 $ 1,923 $ 683 $ 10,573 $ 285 $ 22,740 Allowance for loans individually evaluated for impairment $ 1,207 $ - $ 1 $ - $ 59 $ 1,267 Allowance for loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - |
Schedule of Certain Loans Acquired in Transfer Not Accounted for As Debt Securities, Accretable Yield Movement [Table Text Block] | (in thousands) Accretable discount Non- accretable discount Balance at December 31, 2015 $ 3 $ 189 Accretion (3 ) (41 ) Reclassifications from (to) non-accretable discount - - Disposals - - Balance at December 31, 2016 $ - $ 148 Accretion - - Reclassifications from (to) non-accretable discount - - Disposals - - Balance at March 31, 2017 $ - $ 148 |
Impaired Financing Receivables [Table Text Block] | (in thousands) Unpaid Average Recorded principal Related recorded March 31, 2017 investment balance allowance investment Loans with no related allowance recorded: Commercial and industrial $ 199 $ 708 $ - $ 261 Construction and development, excluding undeveloped land 444 614 - 491 Undeveloped land 474 507 - 353 Real estate mortgage Commercial investment 169 169 - 138 Owner occupied commercial 1,236 1,674 - 1,139 1-4 family residential 688 688 - 792 Home equity - first lien - - - - Home equity - junior lien 175 175 - 324 Subtotal: Real estate mortgage 2,268 2,706 - 2,393 Consumer - - - - Subtotal $ 3,385 $ 4,535 $ - $ 3,498 Loans with an allowance recorded: Commercial and industrial $ 2,644 $ 3,117 $ 1,130 $ 2,501 Construction and development, excluding undeveloped land - - - - Undeveloped land - - - 121 Real estate mortgage Commercial investment - - - - Owner occupied commercial - - - - 1-4 family residential - - - - Home equity - first lien - - - - Home equity - junior lien - - - - Subtotal: Real estate mortgage - - - - Consumer 58 58 58 58 Subtotal $ 2,702 $ 3,175 $ 1,188 $ 2,680 Total: Commercial and industrial $ 2,843 $ 3,825 $ 1,130 $ 2,762 Construction and development, excluding undeveloped land 444 614 - 491 Undeveloped land 474 507 - 474 Real estate mortgage Commercial investment 169 169 - 138 Owner occupied commercial 1,236 1,674 - 1,139 1-4 family residential 688 688 - 792 Home equity - first lien - - - - Home equity - junior lien 175 175 - 324 Subtotal: Real estate mortgage 2,268 2,706 - 2,393 Consumer 58 58 58 58 Total $ 6,087 $ 7,710 $ 1,188 $ 6,178 (in thousands) Unpaid Average Recorded principal Related recorded December 31, 2016 investment balance allowance investment Loans with no related allowance recorded: Commercial and industrial $ 322 $ 465 $ - $ 1,947 Construction and development, excluding undeveloped land 538 708 - 108 Undeveloped land 233 265 - 76 Real estate mortgage Commercial investment 107 107 - 193 Owner occupied commercial 1,042 1,479 - 1,356 1-4 family residential 984 985 - 980 Home equity - first lien - - - 3 Home equity - junior lien 383 383 - 315 Subtotal: Real estate mortgage 2,516 2,954 - 2,847 Consumer - - - 18 Subtotal $ 3,609 $ 4,392 $ - $ 4,996 Loans with an allowance recorded: Commercial and industrial $ 2,360 $ 2,835 $ 1,207 $ 1,619 Construction and development, excluding undeveloped land - - - 182 Undeveloped land 241 241 1 149 Real estate mortgage Commercial investment - - - - Owner occupied commercial - - - 554 1-4 family residential - - - - Home equity - first lien - - - - Home equity - junior lien - - - - Subtotal: Real estate mortgage - - - 554 Consumer 59 59 59 63 Subtotal $ 2,660 $ 3,135 $ 1,267 $ 2,567 Total: Commercial and industrial $ 2,682 $ 3,300 $ 1,207 $ 3,566 Construction and development, excluding undeveloped land 538 708 - 290 Undeveloped land 474 506 1 225 Real estate mortgage - - - - Commercial investment 107 107 - 193 Owner occupied commercial 1,042 1,479 - 1,910 1-4 family residential 984 985 - 980 Home equity - first lien - - - 3 Home equity - junior lien 383 383 - 315 Subtotal: Real estate mortgage 2,516 2,954 - 3,401 Consumer 59 59 59 81 Total $ 6,269 $ 7,527 $ 1,267 $ 7,563 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (in thousands) March 31, 2017 December 31, 2016 Commercial and industrial $ 1,913 $ 1,767 Construction and development, excluding undeveloped land 444 538 Undeveloped land 474 474 Real estate mortgage Commercial investment 169 107 Owner occupied commercial 1,236 1,042 1-4 family residential 688 984 Home equity - first lien - - Home equity - junior lien 175 383 Subtotal: Real estate mortgage 2,268 2,516 Consumer - - Total $ 5,099 $ 5,295 |
Past Due Financing Receivables [Table Text Block] | Recorded (in thousands) 90 or more investment days past > 90 days 30-59 days 60-89 days due (includes) Total Total and March 31, 2017 Current past due past due non-accrual) past due loans accruing Commercial and industrial $ 730,458 $ 4,262 $ - $ 1,913 $ 6,175 $ 736,633 $ - Construction and development, excluding undeveloped land 165,363 25 - 444 469 165,832 - Undeveloped land 20,733 - - 474 474 21,207 - Real estate mortgage Commercial investment 545,153 903 732 169 1,804 546,957 - Owner occupied commercial 404,628 345 - 1,236 1,581 406,209 - 1-4 family residential 240,903 2,362 396 688 3,446 244,349 - Home equity - first lien 51,073 3 - - 3 51,076 - Home equity - junior lien 65,463 168 - 175 343 65,806 - Subtotal: Real estate mortgage 1,307,220 3,781 1,128 2,268 7,177 1,314,397 - Consumer 34,707 - 2 - 2 34,709 - Total $ 2,258,481 $ 8,068 $ 1,130 $ 5,099 $ 14,297 $ 2,272,778 $ - December 31, 2016 Commercial and industrial $ 734,682 $ 84 $ 290 $ 1,785 $ 2,159 $ 736,841 $ 18 Construction and development, excluding undeveloped land 191,810 - - 538 538 192,348 - Undeveloped land 21,022 - - 474 474 21,496 - Real estate mortgage Commercial investment 537,998 631 64 193 888 538,886 86 Owner occupied commercial 406,726 342 - 1,224 1,566 408,292 182 1-4 family residential 246,730 1,174 576 1,018 2,768 249,498 34 Home equity - first lien 55,027 231 21 46 298 55,325 46 Home equity - junior lien 66,911 99 126 383 608 67,519 72 Subtotal: Real estate mortgage 1,313,392 2,477 787 2,864 6,128 1,319,520 420 Consumer 34,965 28 105 72 205 35,170 - Total $ 2,295,871 $ 2,589 $ 1,182 $ 5,733 $ 9,504 $ 2,305,375 $ 438 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (in thousands) Substandard Total March 31, 2017 Pass OAEM Substandard non-performing Doubtful loans Commercial and industrial $ 710,959 $ 16,489 $ 6,342 $ 2,843 $ - $ 736,633 Construction and development, excluding undeveloped land 165,063 - 325 444 - 165,832 Undeveloped land 20,703 - 30 474 - 21,207 Real estate mortgage Commercial investment 546,391 375 22 169 - 546,957 Owner occupied commercial 395,895 6,989 2,089 1,236 - 406,209 1-4 family residential 242,341 431 889 688 - 244,349 Home equity - first lien 50,901 - - 175 - 51,076 Home equity - junior lien 65,429 53 324 - - 65,806 Subtotal: Real estate mortgage 1,300,957 7,848 3,324 2,268 - 1,314,397 Consumer 34,545 106 - 58 - 34,709 Total $ 2,232,227 $ 24,443 $ 10,021 $ 6,087 $ - $ 2,272,778 December 31, 2016 Commercial and industrial $ 714,025 $ 14,266 $ 5,850 $ 2,700 $ - $ 736,841 Construction and development, excluding undeveloped land 191,455 - 355 538 - 192,348 Undeveloped land 21,022 - - 474 - 21,496 Real estate mortgage Commercial investment 538,688 - 5 193 - 538,886 Owner occupied commercial 396,997 7,960 2,111 1,224 - 408,292 1-4 family residential 247,888 - 592 1,018 - 249,498 Home equity - first lien 55,279 - - 46 - 55,325 Home equity - junior lien 66,710 - 426 383 - 67,519 Subtotal: Real estate mortgage 1,305,562 7,960 3,134 2,864 - 1,319,520 Consumer 35,039 - - 131 - 35,170 Total $ 2,267,103 $ 22,226 $ 9,339 $ 6,707 $ - $ 2,305,375 |
Note 4 - Deposits (Tables)
Note 4 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Deposits [Table Text Block] | March 31 , December 31, (In thousands) 2017 201 6 Non-interest bearing demand $ 686,535 $ 680,156 Interest bearing deposits: Interest bearing demand 765,632 768,139 Savings 146,387 140,030 Money market 703,421 682,421 Time deposits of more than $250,000 37,359 40,427 Other time deposits 204,921 209,375 Total time deposits 242,280 249,802 Total interest bearing deposits 1,857,720 1,840,392 Total deposits $ 2,544,255 $ 2,520,548 |
Schedule of Time Deposits, Contractual Maturities [Table Text Block] | (In thousands) Amount 3 months or less $ 13,136 Over 3 through 6 months 5,894 Over 6 through 12 months 9,209 Over 1 through 3 years 5,601 Over 3 years 3,519 Total $ 37,359 |
Note 6 - Federal Home Loan Ba34
Note 6 - Federal Home Loan Bank Advances (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Maturities and Average Effective Interest Rates of Federal Home Loan Bank Advances Disclosure [Table Text Block] | (In thousands) March 31, 2017 December 31, 2016 Year Advance Fixed Rate Advance Fixed Rate 2017 $ 30,000 0.92 % $ 30,000 0.70 % 2020 1,778 2.23 1,790 2.23 2021 341 2.12 359 2.12 2024 2,611 2.36 2,661 2.36 2025 5,889 2.43 6,025 2.43 2026 8,843 1.99 8,936 1.99 2028 1,293 1.48 1,304 1.48 Total $ 50,755 1.42 % $ 51,075 1.30 % |
Note 7 - Other Comprehensive 35
Note 7 - Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Net unrealized Net unrealized Minimum gains on gains (losses) pension securities on cash liability (in thousands) available-for-sale flow hedges adjustment Total Balance at December 31, 2015 $ 965 $ (60 ) $ (273 ) $ 632 Net current period other comprehensive gain (loss) 3,653 (339 ) - 3,314 Balance at March 31, 2016 $ 4,618 $ (399 ) $ (273 ) $ 3,946 Balance at December 31, 2016 $ (1,211 ) $ (16 ) $ (272 ) $ (1,499 ) Net current period other comprehensive income gain (loss) 689 85 - 774 Balance at March 31, 2017 $ (522 ) $ 69 $ (272 ) $ (725 ) |
Note 8 - Derivative Financial36
Note 8 - Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | (dollars in thousands) Fair Value Notional Maturity Receive (variable) Pay fixed assets (liabilities) amount date index swap rate March 31, 2017 December 31, 2016 $ 10,000 12/6/2021 US 3 Month LIBOR 1.89 % $ 46 $ 16 20,000 12/6/2020 US 3 Month LIBOR 1.79 % 61 9 $ 30,000 1.82 % $ 107 $ 25 |
Not Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | (dollar amounts in thousands) Receiving Paying March 31, December 31, March 31, December 31, 2017 2016 2017 2016 Notional amount $ 43,380 $ 43,986 $ 43,380 $ 43,986 Weighted average maturity (years) 9.7 9.9 9.7 9.9 Fair value $ (331 ) $ (178 ) $ 331 $ 178 |
Note 9 - Goodwill and Intangi37
Note 9 - Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | For the three months ended March 31, (in thousands) 2017 2016 Balance at beginning of period $ 921 $ 1,018 Additions for mortgage loans sold 42 29 Amortization (72 ) (58 ) Balance at end of period $ 891 $ 989 |
Note 14 - Stock-based Compens38
Note 14 - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | For three months ended March 31, (in thousands) 2017 2016 Stock-based compensation expense before income taxes $ 660 $ 513 Less: deferred tax benefit (231 ) (180 ) Reduction of net income $ 429 $ 333 |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award Fair Value Assumptions and Methodology [Table Text Block] | 2017 2016 Dividend yield 2.72 % 2.94 % Expected volatility 19.47 % 19.31 % Risk free interest rate 2.29 % 1.70 % Expected life of SARs (years) 7.0 7.3 |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block] | Weighted Weighted Aggregate Weighted average Options average intrinsic average remaining and SARs Exercise exercise value fair contractual (in thousands) price price (in thousands) value life (in years) At December 31, 2015 Vested and exercisable 656 $14.02 - 19.44 $ 15.75 $ 6,191 $ 3.39 3.7 Unvested 266 15.24 - 24.55 18.66 1,733 3.29 7.7 Total outstanding 922 14.02 - 24.55 16.59 7,924 3.36 4.8 Granted 88 25.76 - 33.08 25.84 1,866 3.56 Exercised (272 ) 14.02 - 17.89 16.38 4,155 3.73 Forfeited (3 ) 14.02 - 15.84 15.18 60 2.94 At December 31, 2016 Vested and exercisable 475 14.02 - 24.56 15.72 14,820 3.16 4.3 Unvested 260 15.24 - 33.08 21.53 6,623 3.43 7.8 Total outstanding 735 14.02 - 33.08 17.78 21,443 3.26 5.5 Granted 46 40.00 - 40.00 40.00 30 6.34 Exercised (15 ) 14.02 - 17.89 15.60 474 3.56 Forfeited - - - - - At March 31, 2017 Vested and exercisable 550 14.02 - 25.76 16.33 13,384 3.15 4.5 Unvested 216 15.24 - 40.00 26.43 3,068 4.17 8.4 Total outstanding 766 14.02 - 40.00 19.17 $ 16,452 3.44 5.6 Vested year-to-date 91 $15.24 - 25.76 $ 19.34 $ 1,942 $ 3.18 |
Schedule of Nonvested Share Activity [Table Text Block] | Grant date weighted- Number average cost Unvested at December 31, 2015 155,858 $ 18.98 Shares awarded 51,122 25.78 Restrictions lapsed and shares released (49,265 ) 17.98 Shares forfeited (12,480 ) 20.69 Unvested at December 31, 2016 145,235 $ 21.57 Shares awarded 28,625 44.85 Restrictions lapsed and shares released (46,052 ) 19.73 Shares forfeited (3,009 ) 21.85 Unvested at March 31, 2017 124,799 $ 27.58 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Vesting Expected Grant period Fair shares to year in years value be awarded 2015 3 $ 20.02 51,910 2016 3 22.61 58,786 2017 3 35.66 24,756 |
Note 15 - Net Income Per Share
Note 15 - Net Income Per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended (In thousands, except per share data) March 31, 2017 2016 Net income $ 10,791 $ 9,835 Average shares outstanding 22,492 22,254 Dilutive securities 510 338 Average shares outstanding including dilutive securities 23,002 22,592 Net income per share, basic $ 0.48 $ 0.44 Net income per share, diluted $ 0.47 $ 0.44 |
Note 16 - Segments (Tables)
Note 16 - Segments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Wealth Commercial management (in thousands) banking and trust Total Three months ended March 31, 2017 Net interest income $ 25,107 $ 77 $ 25,184 Provision for loan losses 900 - 900 Wealth management and trust services - 5,094 5,094 All other non-interest income 5,703 - 5,703 Non-interest expense 18,101 3,047 21,148 Income before income taxes 11,809 2,124 13,933 Income tax expense 2,384 758 3,142 Net income $ 9,425 $ 1,366 $ 10,791 Segment assets $ 3,031,318 $ 2,025 $ 3,033,343 Three months ended March 31, 2016 Net interest income $ 23,407 $ 62 $ 23,469 Provision (credit) for loan losses 500 - 500 Wealth management and trust services - 4,612 4,612 All other non-interest income 5,470 - 5,470 Non-interest expense 16,896 2,644 19,540 Income before income taxes 11,481 2,030 13,511 Income tax expense 2,951 725 3,676 Net income $ 8,530 $ 1,305 $ 9,835 Segment assets $ 2,823,861 $ 246 $ 2,824,107 |
Note 17 - Income Taxes (Tables)
Note 17 - Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three months ended March 31, (in thousands) 2017 2016 Current income tax expense Federal $ 3,003 $ 2,373 State 114 124 Total current income tax expense 3,117 2,497 Deferred income tax (benefit) expense Federal (26 ) 1,101 State 38 78 Total deferred income tax expense 12 1,179 Change in valuation allowance 13 - Total income tax expense $ 3,142 $ 3,676 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three months ended March 31, 2017 2016 U.S. federal statutory income tax rate 35.0 % 35.0 % Excess tax benefits from share-based compensation arrangements (7.1 ) - Tax credits (5.5 ) (9.7 ) Tax exempt interest income (1.1 ) (1.3 ) Increase in cash surrender value of life insurance (1.3 ) (0.8 ) State income taxes, net of federal benefit 0.7 1.0 Other, net 1.9 3.0 Effective income tax rate 22.6 % 27.2 % |
Note 18 - Assets and Liabilit42
Note 18 - Assets and Liabilities Measured and Reported at Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | (in thousands) Fair value at March 31, 2017 Assets Total Level 1 Level 2 Level 3 Investment securities available-for-sale Government sponsored enterprise obligations $ 339,946 $ - $ 339,946 $ - Mortgage-backed securities - government agencies 160,558 - 160,558 - Obligations of states and political subdivisions 54,864 - 54,864 - Corporate equity securities 776 776 - - Total investment securities available-for-sale 556,144 776 555,368 - Interest rate swaps 438 - 438 - Total assets $ 556,582 $ 776 $ 555,806 $ - Liabilities Interest rate swaps $ 331 $ - $ 331 $ - (in thousands) Fair value at December 31, 2016 Assets Total Level 1 Level 2 Level 3 Investment securities available-for-sale U.S. Treasury and other U.S. government obligations $ 74,998 $ 74,998 $ - $ - Government sponsored enterprise obligations 268,090 - 268,090 - Mortgage-backed securities - government agencies 168,843 - 168,843 - Obligations of states and political subdivisions 57,444 - 57,444 - Corporate equity securities 699 699 - - Total investment securities available-for-sale 570,074 75,697 494,377 - Interest rate swaps 203 - 203 - Total assets $ 570,277 $ 75,697 $ 494,580 $ - Liabilities Interest rate swaps $ 178 $ - $ 178 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | (in thousands) Fair value at March 31, 2017 Losses for 3 month period ended Total Level 1 Level 2 Level 3 March 31, 2017 Impaired loans $ 1,523 $ - $ - $ 1,523 $ (452 ) Other real estate owned 3,444 - - 3,444 - Total $ 4,967 $ - $ - $ 4,967 $ (452 ) (in thousands) Fair value at December 31, 2016 Losses for 3 month period ended Total Level 1 Level 2 Level 3 March 31, 2016 Impaired loans $ 1,393 $ - $ - $ 1,393 $ (406 ) Other real estate owned 4,488 - - 4,488 - Total $ 5,881 $ - $ - $ 5,881 $ (406 ) |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Significant Weighted Fair Valuation unobservable average of (Dollars in thousands) Value technique input input Impaired loans - collateral dependent $ 1,754 Appraisal Appraisal discounts 8.8 % Other real estate owned 3,444 Appraisal Appraisal discounts 21.4 |
Note 19 - Disclosure of Finan43
Note 19 - Disclosure of Financial Instruments Not Reported at Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (in thousands) Carrying March 31, 2017 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 89,481 $ 89,481 $ 89,481 $ - $ - Mortgage loans held for sale 3,884 4,024 - 4,024 - Federal Home Loan Bank stock and other securities 6,347 6,347 - 6,347 - Loans, net 2,248,297 2,246,045 - - 2,246,045 Accrued interest receivable 7,461 7,461 7,461 - - Financial liabilities Deposits 2,544,255 2,543,248 - - 2,543,248 Short-term borrowings 76,676 76,676 - 76,676 - FHLB advances 50,755 50,636 - 50,636 - Accrued interest payable 156 156 156 - - (in thousands) Carrying December 31, 2016 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 47,973 $ 47,973 $ 47,973 $ - $ - Mortgage loans held for sale 3,213 3,481 - 3,481 - Federal Home Loan Bank stock and other securities 6,347 6,347 - 6,347 - Loans, net 2,281,368 2,284,569 - - 2,284,569 Accrued interest receivable 6,878 6,878 6,878 - - Financial liabilities Deposits 2,520,548 2,519,725 - - 2,519,725 Short-term borrowings 114,969 114,969 - 114,969 - FHLB advances 51,075 50,806 - 50,806 - Accrued interest payable 144 144 144 - - |
Note 20 - Regulatory Matters (T
Note 20 - Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized March 31, 2017 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 343,918 13.49 % $ 203,954 8.00 % NA NA Bank 331,948 13.05 203,493 8.00 $ 254,366 10.00 % Common equity tier 1 risk-based capital Consolidated 319,032 12.51 114,760 4.50 NA NA Bank 307,062 12.07 114,480 4.50 152,641 6.00 Tier 1 risk-based capital (1) Consolidated 319,032 12.51 153,013 6.00 NA NA Bank 307,062 12.07 152,641 6.00 152,641 6.00 Leverage (2) Consolidated 319,032 10.64 119,937 4.00 NA NA Bank 307,062 10.25 119,829 4.00 149,786 5.00 (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 338,525 13.04 % $ 207,684 8.00 % NA NA Bank 325,630 12.57 207,243 8.00 $ 259,053 10.00 % Common equity tier 1 risk-based capital Consolidated 314,147 12.10 116,832 4.50 NA NA Bank 301,252 11.63 116,564 4.50 155,418 6.00 Tier 1 risk-based capital (1) Consolidated 314,147 12.10 155,775 6.00 NA NA Bank 301,252 11.63 155,418 6.00 155,418 6.00 Leverage (2) Consolidated 314,147 10.54 119,221 4.00 NA NA Bank 301,252 10.11 119,190 4.00 148,987 5.00 |
Note 1 - Summary of Significa45
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended |
Mar. 31, 2017 | |
Period Look-back, Quarters | 24 |
Period Look-back, Extended, Quarters | 28 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of Securities Sold | 0 | 0 |
Available-for-sale Securities Pledged as Collateral | $ 355,300,000 | $ 380,400,000 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 90 | 117 |
Held-to-maturity Securities | $ 0 | $ 0 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $ 0 |
Note 2 - Securities - Available
Note 2 - Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Amortized cost | $ 556,947 | $ 571,936 |
Unrealized Gains | 2,508 | 2,264 |
Unrealized Losses | 3,311 | 4,126 |
Fair value | 556,144 | 570,074 |
Securities available-for-sale (amortized cost of $556,947 in 2017 and $571,936 in 2016) | 556,144 | 570,074 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Amortized cost | 340,122 | 268,784 |
Unrealized Gains | 900 | 800 |
Unrealized Losses | 1,076 | 1,494 |
Fair value | 339,946 | 268,090 |
Securities available-for-sale (amortized cost of $556,947 in 2017 and $571,936 in 2016) | 339,946 | 268,090 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 161,867 | 170,344 |
Unrealized Gains | 728 | 735 |
Unrealized Losses | 2,037 | 2,236 |
Fair value | 160,558 | 168,843 |
Securities available-for-sale (amortized cost of $556,947 in 2017 and $571,936 in 2016) | 160,558 | 168,843 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 54,305 | 57,158 |
Unrealized Gains | 757 | 682 |
Unrealized Losses | 198 | 396 |
Fair value | 54,864 | 57,444 |
Securities available-for-sale (amortized cost of $556,947 in 2017 and $571,936 in 2016) | 54,864 | 57,444 |
Common Stock [Member] | ||
Amortized cost | 653 | 653 |
Unrealized Gains | 123 | 46 |
Unrealized Losses | ||
Fair value | 776 | 699 |
Securities available-for-sale (amortized cost of $556,947 in 2017 and $571,936 in 2016) | $ 776 | 699 |
US Treasury Securities [Member] | ||
Amortized cost | 74,997 | |
Unrealized Gains | 1 | |
Unrealized Losses | ||
Fair value | 74,998 | |
Securities available-for-sale (amortized cost of $556,947 in 2017 and $571,936 in 2016) | $ 74,998 |
Note 2 - Securities - Availab48
Note 2 - Securities - Available-for-sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Due within 1 year, amortized cost | $ 183,351 | |
Due within 1 year, fair value | 183,438 | |
Due after 1 but within 5 years, amortized cost | 90,361 | |
Due after 1 but within 5 years, fair value | 90,658 | |
Due after 5 but within 10 years, amortized cost | 16,240 | |
Due after 5 but within 10 years, fair value | 16,090 | |
Due after 10 years, amortized cost | 104,475 | |
Due after 10 years, fair value | 104,624 | |
Mortgage-backed securities – government agencies, amortized cost | 161,867 | |
Mortgage-backed securities – government agencies, fair value | 160,558 | |
Corporate equity securities, amortized cost | 653 | |
Corporate equity securities, fair value | 776 | |
Total securities available-for-sale, amortized cost | 556,947 | $ 571,936 |
Total securities available-for-sale, fair value | $ 556,144 | $ 570,074 |
Note 2 - Securities - Securitie
Note 2 - Securities - Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Less than 12 months, fair value | $ 227,964 | $ 300,218 |
Less than 12 months, Unrealized losses | 2,756 | 3,597 |
12 months or more, Fair value | 24,855 | 14,877 |
12 months or more, Unrealized losses | 555 | 529 |
Fair value | 252,819 | 315,095 |
Unrealized losses | 3,311 | 4,126 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Less than 12 months, fair value | 111,725 | 154,951 |
Less than 12 months, Unrealized losses | 883 | 1,344 |
12 months or more, Fair value | 12,887 | 3,485 |
12 months or more, Unrealized losses | 193 | 150 |
Fair value | 124,612 | 158,436 |
Unrealized losses | 1,076 | 1,494 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than 12 months, fair value | 97,143 | 115,374 |
Less than 12 months, Unrealized losses | 1,699 | 1,873 |
12 months or more, Fair value | 9,431 | 9,914 |
12 months or more, Unrealized losses | 338 | 363 |
Fair value | 106,574 | 125,288 |
Unrealized losses | 2,037 | 2,236 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, fair value | 19,096 | 29,893 |
Less than 12 months, Unrealized losses | 174 | 380 |
12 months or more, Fair value | 2,537 | 1,478 |
12 months or more, Unrealized losses | 24 | 16 |
Fair value | 21,633 | 31,371 |
Unrealized losses | $ 198 | $ 396 |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) | 3 Months Ended | ||
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($) | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 0 | $ 0 | $ 438,000 |
Financing Receivable, Modifications, Recorded Investment | 988,000 | 974,000 | |
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 339,000 | 207,000 | |
Mortgage Loans in Process of Foreclosure, Number | 5 | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 639,000 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | |
Minimum [Member] | |||
Mortgage Loans in Process of Foreclosure, Amount | 30,000 | ||
Maximum [Member] | |||
Mortgage Loans in Process of Foreclosure, Amount | 524,000 | ||
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Modifications, Recorded Investment | 38,000 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 39,000 | ||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 39,000 |
Note 3 - Loans - Loans by Loan
Note 3 - Loans - Loans by Loan Portfolio Class (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Loans | $ 2,272,778 | $ 2,305,375 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans | 736,633 | 736,841 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans | 165,832 | 192,348 |
Undevelopment Land Portfolio Segment [Member] | ||
Loans | 21,207 | 21,496 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Loans | 1,314,397 | 1,319,520 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans | 546,957 | 538,886 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans | 406,209 | 408,292 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 244,349 | 249,498 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans | 51,076 | 55,325 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans | 65,806 | 67,519 |
Consumer Portfolio Segment [Member] | ||
Loans | $ 34,709 | $ 35,170 |
Note 3 - Loans - Allowance for
Note 3 - Loans - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Evaluation Method (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Mar. 31, 2017 | Dec. 31, 2016 | |
Loans | $ 2,272,778 | $ 2,305,375 | |||
Loans collectively evaluated for impairment | 2,266,099 | 2,298,482 | |||
Loans individually evaluated for impairment | 6,087 | 6,269 | |||
Balance | $ 24,007 | $ 22,441 | $ 22,441 | ||
Provision for loan losses | 900 | 500 | 3,000 | ||
Charge-offs | (605) | (2,493) | |||
Recoveries | 179 | 1,059 | |||
Balance | 24,481 | 24,007 | |||
Allowance for loans collectively evaluated for impairment | 23,293 | 22,740 | |||
Allowance for loans individually evaluated for impairment | 1,188 | 1,267 | |||
Allowance for loans acquired with deteriorated credit quality | 24,481 | 22,441 | 24,007 | 24,481 | 24,007 |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans | 592 | 624 | |||
Balance | |||||
Balance | |||||
Allowance for loans acquired with deteriorated credit quality | |||||
Commercial and Industrial Portfolio Segment [Member] | |||||
Loans | 736,633 | 736,841 | |||
Loans collectively evaluated for impairment | 733,790 | 734,139 | |||
Loans individually evaluated for impairment | 2,843 | 2,682 | |||
Balance | 10,483 | 8,645 | 8,645 | ||
Provision for loan losses | 789 | 2,775 | |||
Charge-offs | (450) | (1,216) | |||
Recoveries | 45 | 279 | |||
Balance | 10,867 | 10,483 | |||
Allowance for loans collectively evaluated for impairment | 9,737 | 9,276 | |||
Allowance for loans individually evaluated for impairment | 1,130 | 1,207 | |||
Allowance for loans acquired with deteriorated credit quality | 10,483 | 8,645 | 10,483 | 10,867 | 10,483 |
Commercial and Industrial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans | 20 | ||||
Balance | |||||
Balance | |||||
Allowance for loans acquired with deteriorated credit quality | |||||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||||
Loans | 165,832 | 192,348 | |||
Loans collectively evaluated for impairment | 165,388 | 191,810 | |||
Loans individually evaluated for impairment | 444 | 538 | |||
Balance | 1,923 | 1,760 | 1,760 | ||
Provision for loan losses | 202 | 275 | |||
Charge-offs | (133) | ||||
Recoveries | 21 | ||||
Balance | 2,125 | 1,923 | |||
Allowance for loans collectively evaluated for impairment | 2,125 | 1,923 | |||
Allowance for loans individually evaluated for impairment | |||||
Allowance for loans acquired with deteriorated credit quality | 1,923 | 1,760 | 1,923 | 2,125 | 1,923 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans | |||||
Balance | |||||
Balance | |||||
Allowance for loans acquired with deteriorated credit quality | |||||
Undevelopment Land Portfolio Segment [Member] | |||||
Loans | 21,207 | 21,496 | |||
Loans collectively evaluated for impairment | 20,733 | 21,022 | |||
Loans individually evaluated for impairment | 474 | 474 | |||
Balance | 684 | 814 | 814 | ||
Provision for loan losses | (32) | (130) | |||
Charge-offs | |||||
Recoveries | |||||
Balance | 652 | 684 | |||
Allowance for loans collectively evaluated for impairment | 652 | 683 | |||
Allowance for loans individually evaluated for impairment | 1 | ||||
Allowance for loans acquired with deteriorated credit quality | 684 | 814 | 684 | 652 | 684 |
Undevelopment Land Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans | |||||
Balance | |||||
Balance | |||||
Allowance for loans acquired with deteriorated credit quality | |||||
Real Estate Mortgage Portfolio Segment [Member] | |||||
Loans | 1,314,397 | 1,319,520 | |||
Loans collectively evaluated for impairment | 1,311,537 | 1,316,400 | |||
Loans individually evaluated for impairment | 2,268 | 2,516 | |||
Balance | 10,573 | 10,875 | 10,875 | ||
Provision for loan losses | (75) | (68) | |||
Charge-offs | (34) | (576) | |||
Recoveries | 27 | 342 | |||
Balance | 10,491 | 10,573 | |||
Allowance for loans collectively evaluated for impairment | 10,491 | 10,573 | |||
Allowance for loans individually evaluated for impairment | |||||
Allowance for loans acquired with deteriorated credit quality | 10,573 | 10,875 | 10,573 | 10,491 | 10,573 |
Real Estate Mortgage Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans | 592 | 604 | |||
Balance | |||||
Balance | |||||
Allowance for loans acquired with deteriorated credit quality | |||||
Consumer Portfolio Segment [Member] | |||||
Loans | 34,709 | 35,170 | |||
Loans collectively evaluated for impairment | 34,651 | 35,111 | |||
Loans individually evaluated for impairment | 58 | 59 | |||
Balance | 344 | 347 | 347 | ||
Provision for loan losses | 16 | 148 | |||
Charge-offs | (121) | (568) | |||
Recoveries | 107 | 417 | |||
Balance | 346 | 344 | |||
Allowance for loans collectively evaluated for impairment | 288 | 285 | |||
Allowance for loans individually evaluated for impairment | 58 | 59 | |||
Allowance for loans acquired with deteriorated credit quality | 344 | $ 347 | 344 | 346 | 344 |
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans | |||||
Balance | |||||
Balance | |||||
Allowance for loans acquired with deteriorated credit quality |
Note 3 - Loans - Acquired Impai
Note 3 - Loans - Acquired Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Accretable discount | $ 3 | |
Non- accretable discount | 148 | 189 |
Accretion | (3) | |
Non- accretable discount, accretion | (41) | |
Accretable discount | ||
Non- accretable discount | $ 148 | $ 148 |
Note 3 - Loans - Loans Individu
Note 3 - Loans - Loans Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Loans with no related allowance recorded, recorded investment | $ 3,385 | $ 3,609 |
Loans with no related allowance recorded, unpaid principal balance | 4,535 | 4,392 |
Loans with no related allowance recorded, average recorded investment | 3,498 | 4,996 |
Loans with an allowance recorded, recorded investment | 2,702 | 2,660 |
Loans with an allowance recorded, unpaid principal balance | 3,175 | 3,135 |
Related allowance | 1,188 | 1,267 |
Loans with an allowance recorded, average recorded investment | 2,680 | 2,567 |
Recorded investment | 6,087 | 6,269 |
Unpaid principal balance | 7,710 | 7,527 |
Average recorded investment | 6,178 | 7,563 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans with no related allowance recorded, recorded investment | 199 | 322 |
Loans with no related allowance recorded, unpaid principal balance | 708 | 465 |
Loans with no related allowance recorded, average recorded investment | 261 | 1,947 |
Loans with an allowance recorded, recorded investment | 2,644 | 2,360 |
Loans with an allowance recorded, unpaid principal balance | 3,117 | 2,835 |
Related allowance | 1,130 | 1,207 |
Loans with an allowance recorded, average recorded investment | 2,501 | 1,619 |
Recorded investment | 2,843 | 2,682 |
Unpaid principal balance | 3,825 | 3,300 |
Average recorded investment | 2,762 | 3,566 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans with no related allowance recorded, recorded investment | 444 | 538 |
Loans with no related allowance recorded, unpaid principal balance | 614 | 708 |
Loans with no related allowance recorded, average recorded investment | 491 | 108 |
Loans with an allowance recorded, recorded investment | ||
Loans with an allowance recorded, unpaid principal balance | ||
Related allowance | ||
Loans with an allowance recorded, average recorded investment | 182 | |
Recorded investment | 444 | 538 |
Unpaid principal balance | 614 | 708 |
Average recorded investment | 491 | 290 |
Undevelopment Land Portfolio Segment [Member] | ||
Loans with no related allowance recorded, recorded investment | 474 | 233 |
Loans with no related allowance recorded, unpaid principal balance | 507 | 265 |
Loans with no related allowance recorded, average recorded investment | 353 | 76 |
Loans with an allowance recorded, recorded investment | 241 | |
Loans with an allowance recorded, unpaid principal balance | 241 | |
Related allowance | 1 | |
Loans with an allowance recorded, average recorded investment | 121 | 149 |
Recorded investment | 474 | 474 |
Unpaid principal balance | 507 | 506 |
Average recorded investment | 474 | 225 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Loans with no related allowance recorded, recorded investment | 2,268 | 2,516 |
Loans with no related allowance recorded, unpaid principal balance | 2,706 | 2,954 |
Loans with no related allowance recorded, average recorded investment | 2,393 | 2,847 |
Loans with an allowance recorded, recorded investment | ||
Loans with an allowance recorded, unpaid principal balance | ||
Related allowance | ||
Loans with an allowance recorded, average recorded investment | 554 | |
Recorded investment | 2,268 | 2,516 |
Unpaid principal balance | 2,706 | 2,954 |
Average recorded investment | 2,393 | 3,401 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans with no related allowance recorded, recorded investment | 169 | 107 |
Loans with no related allowance recorded, unpaid principal balance | 169 | 107 |
Loans with no related allowance recorded, average recorded investment | 138 | 193 |
Loans with an allowance recorded, recorded investment | ||
Loans with an allowance recorded, unpaid principal balance | ||
Related allowance | ||
Loans with an allowance recorded, average recorded investment | ||
Recorded investment | 169 | 107 |
Unpaid principal balance | 169 | 107 |
Average recorded investment | 138 | 193 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans with no related allowance recorded, recorded investment | 1,236 | 1,042 |
Loans with no related allowance recorded, unpaid principal balance | 1,674 | 1,479 |
Loans with no related allowance recorded, average recorded investment | 1,139 | 1,356 |
Loans with an allowance recorded, recorded investment | ||
Loans with an allowance recorded, unpaid principal balance | ||
Related allowance | ||
Loans with an allowance recorded, average recorded investment | 554 | |
Recorded investment | 1,236 | 1,042 |
Unpaid principal balance | 1,674 | 1,479 |
Average recorded investment | 1,139 | 1,910 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans with no related allowance recorded, recorded investment | 688 | 984 |
Loans with no related allowance recorded, unpaid principal balance | 688 | 985 |
Loans with no related allowance recorded, average recorded investment | 792 | 980 |
Loans with an allowance recorded, recorded investment | ||
Loans with an allowance recorded, unpaid principal balance | ||
Related allowance | ||
Loans with an allowance recorded, average recorded investment | ||
Recorded investment | 688 | 984 |
Unpaid principal balance | 688 | 985 |
Average recorded investment | 792 | 980 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans with no related allowance recorded, recorded investment | ||
Loans with no related allowance recorded, unpaid principal balance | ||
Loans with no related allowance recorded, average recorded investment | 3 | |
Loans with an allowance recorded, recorded investment | ||
Loans with an allowance recorded, unpaid principal balance | ||
Related allowance | ||
Loans with an allowance recorded, average recorded investment | ||
Recorded investment | ||
Unpaid principal balance | ||
Average recorded investment | 3 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans with no related allowance recorded, recorded investment | 175 | 383 |
Loans with no related allowance recorded, unpaid principal balance | 175 | 383 |
Loans with no related allowance recorded, average recorded investment | 324 | 315 |
Loans with an allowance recorded, recorded investment | ||
Loans with an allowance recorded, unpaid principal balance | ||
Related allowance | ||
Loans with an allowance recorded, average recorded investment | ||
Recorded investment | 175 | 383 |
Unpaid principal balance | 175 | 383 |
Average recorded investment | 324 | 315 |
Consumer Portfolio Segment [Member] | ||
Loans with no related allowance recorded, recorded investment | ||
Loans with no related allowance recorded, unpaid principal balance | ||
Loans with no related allowance recorded, average recorded investment | 18 | |
Loans with an allowance recorded, recorded investment | 58 | 59 |
Loans with an allowance recorded, unpaid principal balance | 58 | 59 |
Related allowance | 58 | 59 |
Loans with an allowance recorded, average recorded investment | 58 | 63 |
Recorded investment | 58 | 59 |
Unpaid principal balance | 58 | 59 |
Average recorded investment | $ 58 | $ 81 |
Note 3 - Loans - Non-accrual Lo
Note 3 - Loans - Non-accrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Non-accrual loans | $ 5,099 | $ 5,295 |
Commercial and Industrial Portfolio Segment [Member] | ||
Non-accrual loans | 1,913 | 1,767 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Non-accrual loans | 444 | 538 |
Undevelopment Land Portfolio Segment [Member] | ||
Non-accrual loans | 474 | 474 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Non-accrual loans | 2,268 | 2,516 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Non-accrual loans | 169 | 107 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Non-accrual loans | 1,236 | 1,042 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Non-accrual loans | 688 | 984 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Non-accrual loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Non-accrual loans | 175 | 383 |
Consumer Portfolio Segment [Member] | ||
Non-accrual loans |
Note 3 - Loans - Aging of the R
Note 3 - Loans - Aging of the Recorded Investment in Loans (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 |
Current | $ 2,258,481,000 | $ 2,295,871,000 | |
Past due | 14,297,000 | 9,504,000 | |
Loans | 2,272,778,000 | 2,305,375,000 | |
Recorded investment greater than 90 days and accruing | 0 | 438,000 | $ 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 8,068,000 | 2,589,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 1,130,000 | 1,182,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 5,099,000 | 5,733,000 | |
Commercial and Industrial Portfolio Segment [Member] | |||
Current | 730,458,000 | 734,682,000 | |
Past due | 6,175,000 | 2,159,000 | |
Loans | 736,633,000 | 736,841,000 | |
Recorded investment greater than 90 days and accruing | 18,000 | ||
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 4,262,000 | 84,000 | |
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 290,000 | ||
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 1,913,000 | 1,785,000 | |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Current | 165,363,000 | 191,810,000 | |
Past due | 469,000 | 538,000 | |
Loans | 165,832,000 | 192,348,000 | |
Recorded investment greater than 90 days and accruing | |||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 25,000 | ||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | |||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 444,000 | 538,000 | |
Undevelopment Land Portfolio Segment [Member] | |||
Current | 20,733,000 | 21,022,000 | |
Past due | 474,000 | 474,000 | |
Loans | 21,207,000 | 21,496,000 | |
Recorded investment greater than 90 days and accruing | |||
Undevelopment Land Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | |||
Undevelopment Land Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | |||
Undevelopment Land Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 474,000 | 474,000 | |
Real Estate Mortgage Portfolio Segment [Member] | |||
Current | 1,307,220,000 | 1,313,392,000 | |
Past due | 7,177,000 | 6,128,000 | |
Loans | 1,314,397,000 | 1,319,520,000 | |
Recorded investment greater than 90 days and accruing | 420,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Current | 545,153,000 | 537,998,000 | |
Past due | 1,804,000 | 888,000 | |
Loans | 546,957,000 | 538,886,000 | |
Recorded investment greater than 90 days and accruing | 86,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Current | 404,628,000 | 406,726,000 | |
Past due | 1,581,000 | 1,566,000 | |
Loans | 406,209,000 | 408,292,000 | |
Recorded investment greater than 90 days and accruing | 182,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Current | 240,903,000 | 246,730,000 | |
Past due | 3,446,000 | 2,768,000 | |
Loans | 244,349,000 | 249,498,000 | |
Recorded investment greater than 90 days and accruing | 34,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Current | 51,073,000 | 55,027,000 | |
Past due | 3,000 | 298,000 | |
Loans | 51,076,000 | 55,325,000 | |
Recorded investment greater than 90 days and accruing | 46,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Current | 65,463,000 | 66,911,000 | |
Past due | 343,000 | 608,000 | |
Loans | 65,806,000 | 67,519,000 | |
Recorded investment greater than 90 days and accruing | 72,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 3,781,000 | 2,477,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Investment [Member] | |||
Past due | 903,000 | 631,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Past due | 345,000 | 342,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | One to Four Family Residential [Member] | |||
Past due | 2,362,000 | 1,174,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity First Lien [Member] | |||
Past due | 3,000 | 231,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity Junior Lien [Member] | |||
Past due | 168,000 | 99,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 1,128,000 | 787,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Investment [Member] | |||
Past due | 732,000 | 64,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Past due | |||
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family Residential [Member] | |||
Past due | 396,000 | 576,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity First Lien [Member] | |||
Past due | 21,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity Junior Lien [Member] | |||
Past due | 126,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 2,268,000 | 2,864,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Investment [Member] | |||
Past due | 169,000 | 193,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Past due | 1,236,000 | 1,224,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One to Four Family Residential [Member] | |||
Past due | 688,000 | 1,018,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity First Lien [Member] | |||
Past due | 46,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity Junior Lien [Member] | |||
Past due | 175,000 | 383,000 | |
Consumer Portfolio Segment [Member] | |||
Current | 34,707,000 | 34,965,000 | |
Past due | 2,000 | 205,000 | |
Loans | 34,709,000 | 35,170,000 | |
Recorded investment greater than 90 days and accruing | |||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 28,000 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 2,000 | 105,000 | |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | $ 72,000 |
Note 3 - Loans - Internally Ass
Note 3 - Loans - Internally Assigned Risk Grades of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Loans | $ 2,272,778 | $ 2,305,375 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans | 736,633 | 736,841 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans | 165,832 | 192,348 |
Undevelopment Land Portfolio Segment [Member] | ||
Loans | 21,207 | 21,496 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Loans | 1,314,397 | 1,319,520 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans | 546,957 | 538,886 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans | 406,209 | 408,292 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 244,349 | 249,498 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans | 51,076 | 55,325 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans | 65,806 | 67,519 |
Consumer Portfolio Segment [Member] | ||
Loans | 34,709 | 35,170 |
Pass [Member] | ||
Loans | 2,232,227 | 2,267,103 |
Pass [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans | 710,959 | 714,025 |
Pass [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans | 165,063 | 191,455 |
Pass [Member] | Undevelopment Land Portfolio Segment [Member] | ||
Loans | 20,703 | 21,022 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | ||
Loans | 1,300,957 | 1,305,562 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans | 546,391 | 538,688 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans | 395,895 | 396,997 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 242,341 | 247,888 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans | 50,901 | 55,279 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans | 65,429 | 66,710 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 34,545 | 35,039 |
Special Mention [Member] | ||
Loans | 24,443 | 22,226 |
Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans | 16,489 | 14,266 |
Special Mention [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Undevelopment Land Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | ||
Loans | 7,848 | 7,960 |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans | 375 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans | 6,989 | 7,960 |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 431 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans | ||
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans | 53 | |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 106 | |
Substandard [Member] | Performing Financial Instruments [Member] | ||
Loans | 10,021 | 9,339 |
Substandard [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 6,087 | 6,707 |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 6,342 | 5,850 |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 2,843 | 2,700 |
Substandard [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 325 | 355 |
Substandard [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 444 | 538 |
Substandard [Member] | Undevelopment Land Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 30 | |
Substandard [Member] | Undevelopment Land Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 474 | 474 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 3,324 | 3,134 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Commercial Investment [Member] | ||
Loans | 22 | 5 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Loans | 2,089 | 2,111 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | One to Four Family Residential [Member] | ||
Loans | 889 | 592 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity First Lien [Member] | ||
Loans | ||
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity Junior Lien [Member] | ||
Loans | 324 | 426 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 2,268 | 2,864 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Commercial Investment [Member] | ||
Loans | 169 | 193 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Loans | 1,236 | 1,224 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | One to Four Family Residential [Member] | ||
Loans | 688 | 1,018 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity First Lien [Member] | ||
Loans | 175 | 46 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity Junior Lien [Member] | ||
Loans | 383 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | ||
Substandard [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 58 | 131 |
Doubtful [Member] | ||
Loans | ||
Doubtful [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Undevelopment Land Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans | ||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans | ||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | ||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans | ||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans | ||
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans |
Note 4 - Deposits - Composition
Note 4 - Deposits - Composition of Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Non-interest bearing | $ 686,535 | $ 680,156 |
Interest bearing demand | 765,632 | 768,139 |
Savings | 146,387 | 140,030 |
Money market | 703,421 | 682,421 |
Time deposits of more than $250,000 | 37,359 | 40,427 |
Other time deposits | 204,921 | 209,375 |
Total time deposits | 242,280 | 249,802 |
Total interest bearing deposits | 1,857,720 | 1,840,392 |
Total deposits | $ 2,544,255 | $ 2,520,548 |
Note 4 - Deposits - Maturities
Note 4 - Deposits - Maturities of Time Deposits (Details) $ in Thousands | Mar. 31, 2017USD ($) |
3 months or less | $ 13,136 |
Over 3 through 6 months | 5,894 |
Over 6 through 12 months | 9,209 |
Over 1 through 3 years | 5,601 |
Over 3 years | 3,519 |
Total | $ 37,359 |
Note 5 - Securities Sold Unde60
Note 5 - Securities Sold Under Agreements to Repurchase (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Securities Sold under Agreements to Repurchase | $ 65,701 | $ 67,595 |
Note 6 - Federal Home Loan Ba61
Note 6 - Federal Home Loan Bank Advances (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Advances from Federal Home Loan Banks | $ 50,755 | $ 51,075 |
Federal Home Loan Bank, Number of Separate Advances | 14 | 14 |
Federal Home Loan Bank, Number of Separate Advances Principal Due at Maturity | 2 | |
Advances From Federal Home Loan Banks, Principal Due at Maturity | $ 30,000 | |
Final Advances from Federal Home Loan Banks, Principal Paid Monthly | 20,800 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 500,100 |
Note 6 - Federal Home Loan Ba62
Note 6 - Federal Home Loan Bank Advances - Contractual Maturities and Average Effective Rates of Outstanding Advances (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Advance, 2017 | $ 30,000 | $ 30,000 |
Fixed rate, 2017 | 0.92% | 0.70% |
Advance, 2020 | $ 1,778 | |
Fixed rate, 2020 | 2.23% | |
Advance, 2020 | $ 1,790 | |
Fixed rate, 2020 | 2.23% | |
Advance, 2021 | $ 341 | |
Fixed rate, 2021 | 2.12% | |
Advance, 2021 | $ 359 | |
Fixed rate, 2021 | 2.12% | |
Advance, 2024 | $ 2,611 | |
Fixed rate, 2024 | 2.36% | |
Advance, 2024 | $ 2,661 | |
Fixed rate, 2024 | 2.36% | |
Advance, 2025 | $ 5,889 | |
Fixed rate, 2025 | 2.43% | |
Advance, 2025 | $ 8,843 | $ 6,025 |
Fixed rate, 2025 | 1.99% | 2.43% |
Advance, 2026 | $ 8,936 | |
Fixed rate, 2026 | 1.99% | |
Advance, 2028 | $ 1,293 | |
Fixed rate, 2028 | 1.48% | |
Advance, 2028 | $ 1,304 | |
Fixed rate, 2028 | 1.48% | |
Advances from Federal Home Loan Banks | $ 50,755 | $ 51,075 |
Weighted Average [Member] | ||
Fixed rate | 1.42% | 1.30% |
Note 7 - Other Comprehensive 63
Note 7 - Other Comprehensive Income - Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Balance | $ 313,872 | $ 286,519 |
Other comprehensive income, net of tax | 774 | 3,314 |
Balance | 319,687 | 296,323 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||
Balance | (1,211) | 965 |
Other comprehensive income, net of tax | 689 | 3,653 |
Balance | (522) | 4,618 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Balance | (16) | (60) |
Other comprehensive income, net of tax | 85 | (339) |
Balance | 69 | (399) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||
Balance | (272) | (273) |
Other comprehensive income, net of tax | ||
Balance | (272) | (273) |
AOCI Attributable to Parent [Member] | ||
Balance | (1,499) | 632 |
Other comprehensive income, net of tax | 774 | 3,314 |
Balance | $ (725) | $ 3,946 |
Note 8 - Derivative Financial64
Note 8 - Derivative Financial Instruments (Details Textual) - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Derivative, Notional Amount | $ 30,000 | ||
Interest Rate Swap, Maturing December 6, 2016 [Member] | |||
Derivative, Notional Amount | 10,000 | $ 10,000 | |
Interest Rate Swap, Maturing December 6, 2020 [Member] | |||
Derivative, Notional Amount | $ 20,000 | $ 20,000 |
Note 8 - Derivative Financial65
Note 8 - Derivative Financial Instruments - Outstanding Undesignated Interest Rate Swap Contracts (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Receiving [Member] | ||
Notional amount | $ 43,380 | $ 43,986 |
Weighted average maturity (years) (Year) | 9 years 255 days | 9 years 328 days |
Fair value | $ (331) | $ (178) |
Paying [Member] | ||
Notional amount | $ 43,380 | $ 43,986 |
Weighted average maturity (years) (Year) | 9 years 255 days | 9 years 328 days |
Fair value | $ 331 | $ 178 |
Note 8 - Derivative Financial66
Note 8 - Derivative Financial Instruments - Derivative Position Designated As a Cash Flow Hedge (Details) - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Notional amount | $ 30,000 | ||
Pay fixed swap rate | 1.82% | ||
Fair value | $ 107 | $ 25 | |
Interest Rate Swap, Maturing December 6, 2016 [Member] | |||
Notional amount | $ 10,000 | 10,000 | |
Receive (variable index) | US 3 Month LIBOR | ||
Pay fixed swap rate | 1.89% | ||
Fair value | $ 46 | 16 | |
Interest Rate Swap, Maturing December 6, 2020 [Member] | |||
Notional amount | $ 20,000 | $ 20,000 | |
Receive (variable index) | US 3 Month LIBOR | ||
Pay fixed swap rate | 1.79% | ||
Fair value | $ 61 | $ 9 |
Note 9 - Goodwill and Intangi67
Note 9 - Goodwill and Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2013 | |
Finite-lived Intangible Assets, Fair Value Disclosure | $ 2,800,000 | $ 2,700,000 | |
Loans Serviced for Others Outstanding Principal Balance | 365,000,000 | $ 372,200,000 | |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 0 | ||
Core Deposits [Member] | |||
Finite-Lived Intangible Assets, Net | 1,400,000 | ||
Indiana Bank [Member] | Commercial Banking [Member] | |||
Goodwill | $ 682,000 | ||
THE BANCorp [Member] | Core Deposits [Member] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,500,000 |
Note 9 - Goodwill and Intangi68
Note 9 - Goodwill and Intangible Assets - Mortgage Servicing Rights (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Balance at beginning of period | $ 921 | $ 1,018 |
Additions for mortgage loans sold | 42 | 29 |
Amortization | (72) | (58) |
Balance at end of period | $ 891 | $ 989 |
Note 10 - Defined Benefit Ret69
Note 10 - Defined Benefit Retirement Plan (Details Textual) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | |
Defined Benefit Plan, Number of Employees Covered | 3 | |
Defined Benefit Plan, Number of Present Employees Covered | 2 | |
Defined Benefit Plan, Number of Retired Employees Covered | 1 | |
Deferred Compensation Arrangement with Individual, Requisite Service Period | 25 years | |
Defined Benefit Plan, Number of Current Officers Fully Vested | 1 | |
Defined Benefit Plan, Number of Current Officers That Will Be Fully Vested in Year 2017 | 1 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ 34 | $ 33 |
Note 11 - Commitments and Con70
Note 11 - Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Loss Contingency Accrual | $ 350 | |
Standby Letters of Credit [Member] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $ 14,100 | $ 15,600 |
Standby Letters of Credit [Member] | Minimum [Member] | ||
Guarantee Obligations, Agreement Term | 1 year | |
Standby Letters of Credit [Member] | Maximum [Member] | ||
Guarantee Obligations, Agreement Term | 2 years | |
Commitments to Extend Credit and Standby Letters of Credit [Member] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $ 651,200 | $ 628,300 |
Note 12 - Preferred Stock (Deta
Note 12 - Preferred Stock (Details Textual) - $ / shares $ / shares in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, No Par Value | $ 0 | $ 0 |
Preferred Stock, Shares Issued | 0 | 0 |
Note 13 - Stock Split (Details
Note 13 - Stock Split (Details Textual) | Apr. 29, 2016 |
Stock Dividend, Percentage | 50.00% |
Stock Split To [Member] | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 3 |
Stock Split From [Member] | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2 |
Note 14 - Stock-based Compens73
Note 14 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Plans | 1 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 273,302 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 5 years | |||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 231 | $ 180 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expected Additional Compensation Cost Remainder of Year | 2,100 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 6,400 | |||
Proceeds (Used for) and Received from Settlement of Stock Awards | (216) | $ 495 | ||
Accounting Standards Update 2016-09 [Member] | ||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 1,000 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Stock Appreciation Rights (SARs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||
Restricted Stock [Member] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 5 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 28,625 | 51,122 | ||
Restricted Stock [Member] | Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Sharebased Compensation Arrangement by Share-based Payment Award Post Vesting Holding Period | 1 year | |||
Share-based Compensation Arrangement by Share-based Payment Award Liquidity Discount | 5.12% | 4.50% | 4.80% | |
Restricted Stock Units (RSUs) [Member] | Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 4,680 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Fair Value Granted | $ 220 |
Note 14 - Stock-based Compens74
Note 14 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Stock-based compensation expense before income taxes | $ 660 | $ 513 |
Less: deferred tax benefit | (231) | (180) |
Reduction of net income | $ 429 | $ 333 |
Note 14 - Stock-based Compens75
Note 14 - Stock-based Compensation - Fair Value Assumptions (Details) - Stock Options and Stock Appreciation Rights SARs [Member] | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Dividend yield | 2.72% | 2.94% |
Expected volatility | 19.47% | 19.31% |
Risk free interest rate | 2.29% | 1.70% |
Expected life of SARs (years) (Year) | 7 years | 7 years 109 days |
Note 14 - Stock-based Compens76
Note 14 - Stock-based Compensation - Stock Option and SARs Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Award Vested and Exercisable [Member] | |||
Options and SARs (in shares) | 550 | 475 | 656 |
Exercise price (in dollars per share) | $ 16.33 | $ 15.72 | $ 15.75 |
Aggregate intrinsic value | $ 13,384 | $ 14,820 | $ 6,191 |
Weighted average fair value (in dollars per share) | $ 3.15 | $ 3.16 | $ 3.39 |
Weighted average remaining contractual life (Year) | 4 years 182 days | 4 years 109 days | 3 years 255 days |
Options and SARs (in shares) | (550) | (475) | (656) |
Award Vested and Exercisable [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | $ 14.02 | $ 14.02 | $ 14.02 |
Award Vested and Exercisable [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | $ 25.76 | $ 24.56 | $ 19.44 |
Award Unvested [Member] | |||
Options and SARs (in shares) | 216 | 260 | 266 |
Exercise price (in dollars per share) | $ 26.43 | $ 21.53 | $ 18.66 |
Aggregate intrinsic value | $ 3,068 | $ 6,623 | $ 1,733 |
Weighted average fair value (in dollars per share) | $ 4.17 | $ 3.43 | $ 3.29 |
Weighted average remaining contractual life (Year) | 8 years 146 days | 7 years 292 days | 7 years 255 days |
Options and SARs (in shares) | (216) | (260) | (266) |
Award Unvested [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | $ 15.24 | $ 15.24 | $ 15.24 |
Award Unvested [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | $ 40 | $ 33.08 | $ 24.55 |
Award Outstanding [Member] | |||
Options and SARs (in shares) | 766 | 735 | 922 |
Exercise price (in dollars per share) | $ 19.17 | $ 17.78 | $ 16.59 |
Aggregate intrinsic value | $ 16,452 | $ 21,443 | $ 7,924 |
Weighted average fair value (in dollars per share) | $ 3.44 | $ 3.26 | $ 3.36 |
Weighted average remaining contractual life (Year) | 5 years 219 days | 5 years 182 days | 4 years 292 days |
Options and SARs (in shares) | (766) | (735) | (922) |
Award Outstanding [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | $ 14.02 | $ 14.02 | $ 14.02 |
Award Outstanding [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | $ 40 | $ 33.08 | $ 24.55 |
Award Granted [Member] | |||
Options and SARs (in shares) | 46 | 88 | |
Exercise price (in dollars per share) | $ 40 | $ 25.84 | |
Aggregate intrinsic value | $ 30 | $ 1,866 | |
Weighted average fair value (in dollars per share) | $ 6.34 | $ 3.56 | |
Weighted average remaining contractual life (Year) | |||
Options and SARs (in shares) | (46) | (88) | |
Award Granted [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | $ 40 | $ 25.76 | |
Award Granted [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | $ 40 | $ 33.08 | |
Award Exercised [Member] | |||
Options and SARs (in shares) | 15 | 272 | |
Exercise price (in dollars per share) | $ 15.60 | $ 16.38 | |
Aggregate intrinsic value | $ 474 | $ 4,155 | |
Weighted average fair value (in dollars per share) | $ 3.56 | $ 3.73 | |
Weighted average remaining contractual life (Year) | |||
Options and SARs (in shares) | (15) | (272) | |
Award Exercised [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | $ 14.02 | $ 14.02 | |
Award Exercised [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | $ 17.89 | $ 17.89 | |
Award Forfeited [Member] | |||
Options and SARs (in shares) | 3 | ||
Exercise price (in dollars per share) | $ 15.18 | ||
Aggregate intrinsic value | $ 60 | ||
Weighted average fair value (in dollars per share) | $ 2.94 | ||
Weighted average remaining contractual life (Year) | |||
Options and SARs (in shares) | (3) | ||
Award Forfeited [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | $ 14.02 | ||
Award Forfeited [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | $ 15.84 | ||
Award Vested [Member] | |||
Options and SARs (in shares) | 91 | ||
Exercise price (in dollars per share) | $ 19.34 | ||
Aggregate intrinsic value | $ 1,942 | ||
Weighted average fair value (in dollars per share) | $ 3.18 | ||
Weighted average remaining contractual life (Year) | |||
Options and SARs (in shares) | (91) | ||
Award Vested [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | $ 15.24 | ||
Award Vested [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | $ 25.76 |
Note 14 - Stock-based Compens77
Note 14 - Stock-based Compensation - Restricted Stock (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Number of shares, unvested (in shares) | 145,235 | 155,858 |
Unvested, grant date weighted average cost (in dollars per share) | $ 21.57 | $ 18.98 |
Number of shares, awarded (in shares) | 28,625 | 51,122 |
Shares awarded, grant date weighted average cost (in dollars per share) | $ 44.85 | $ 25.78 |
Number of shares, restrictions lapsed and shares released (in shares) | (46,052) | (49,265) |
Restrictions lapsed and shares released, grant date weighted average cost (in dollars per share) | $ 19.73 | $ 17.98 |
Number of shares, forfeited (in shares) | (3,009) | (12,480) |
Shares forfeited, grant date weighted average cost (in dollars per share) | $ 21.85 | $ 20.69 |
Number of shares, unvested (in shares) | 124,799 | 145,235 |
Unvested, grant date weighted average cost (in dollars per share) | $ 27.58 | $ 21.57 |
Note 14 - Stock-based Compens78
Note 14 - Stock-based Compensation - Performance-based Restricted Stock Units (Details) - $ / shares | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Expected shares to be awarded (in shares) | 273,302 | |||
Performance Shares [Member] | ||||
Vesting period in years (Year) | 3 years | |||
Performance Shares [Member] | Executive Officer [Member] | ||||
Vesting period in years (Year) | 3 years | 3 years | 3 years | |
Shares awarded, grant date weighted average cost (in dollars per share) | $ 35.66 | $ 22.61 | $ 20.02 | |
Expected shares to be awarded (in shares) | 24,756 | 58,786 | 51,910 |
Note 15 - Net Income Per Shar79
Note 15 - Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net income | $ 10,791 | $ 9,835 |
Average shares outstanding (in shares) | 22,492 | 22,254 |
Dilutive securities (in shares) | 510 | 338 |
Average shares outstanding including dilutive securities (in shares) | 23,002 | 22,592 |
Net income per share, basic (in dollars per share) | $ 0.48 | $ 0.44 |
Net income per share, diluted (in dollars per share) | $ 0.47 | $ 0.44 |
Note 16 - Segments (Details Tex
Note 16 - Segments (Details Textual) | Mar. 31, 2017USD ($) |
Commercial Banking [Member] | Operating Segments [Member] | |
Goodwill | $ 682,000 |
Note 16 - Segments - Financial
Note 16 - Segments - Financial Information by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Net interest income | $ 25,184 | $ 23,469 | |
Provision for loan losses | 900 | 500 | $ 3,000 |
Wealth management and trust services | 5,094 | 4,612 | |
All other non-interest income | 5,703 | 5,470 | |
Non-interest expense | 21,148 | 19,540 | |
Income before income taxes | 13,933 | 13,511 | |
Income tax expense | 3,142 | 3,676 | |
Net income | 10,791 | 9,835 | |
Segment assets | 3,033,343 | 2,824,107 | $ 3,039,481 |
Commercial Banking [Member] | |||
Net interest income | 25,107 | 23,407 | |
Provision for loan losses | 900 | 500 | |
Wealth management and trust services | |||
All other non-interest income | 5,703 | 5,470 | |
Non-interest expense | 18,101 | 16,896 | |
Income before income taxes | 11,809 | 11,481 | |
Income tax expense | 2,384 | 2,951 | |
Net income | 9,425 | 8,530 | |
Segment assets | 3,031,318 | 2,823,861 | |
Investment Management and Trust [Member] | |||
Net interest income | 77 | 62 | |
Provision for loan losses | |||
Wealth management and trust services | 5,094 | 4,612 | |
All other non-interest income | |||
Non-interest expense | 3,047 | 2,644 | |
Income before income taxes | 2,124 | 2,030 | |
Income tax expense | 758 | 725 | |
Net income | 1,366 | 1,305 | |
Segment assets | $ 2,025 | $ 246 |
Note 17 - Income Taxes (Details
Note 17 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 231 | $ 180 |
Accounting Standards Update 2016-09 [Member] | ||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 1,000 |
Note 17 - Income Taxes - Compon
Note 17 - Income Taxes - Components of Income Tax Expense (Benefit) from Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Federal | $ 3,003 | $ 2,373 |
State | 114 | 124 |
Total current income tax expense | 3,117 | 2,497 |
Federal | (26) | 1,101 |
State | 38 | 78 |
Total deferred income tax expense | 12 | 1,179 |
Change in valuation allowance | 13 | |
Total income tax expense | $ 3,142 | $ 3,676 |
Note 17 - Income Taxes - Differ
Note 17 - Income Taxes - Difference Between Statutory and Effective Tax Rates (Details) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
U.S. federal statutory income tax rate | 35.00% | 35.00% |
Excess tax benefits from share-based compensation arrangements | (7.10%) | |
Tax credits | (5.50%) | (9.70%) |
Tax exempt interest income | (1.10%) | (1.30%) |
Increase in cash surrender value of life insurance | (1.30%) | (0.80%) |
State income taxes, net of federal benefit | 0.70% | 1.00% |
Other, net | 1.90% | 3.00% |
Effective income tax rate | 22.60% | 27.20% |
Note 18 - Assets and Liabilit85
Note 18 - Assets and Liabilities Measured and Reported at Fair Value (Details Textual) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 2,702,000 | $ 2,660,000 |
Impaired Financing Receivable, Related Allowance | 1,188,000 | 1,267,000 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 4,000,000 | 5,000,000 |
Mortgage Servicing Rights [Member] | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | ||
Assets, Fair Value Disclosure | 556,582,000 | 570,277,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Impaired Loans [Member] | Appraisal Discount Method [Member] | ||
Assets, Fair Value Disclosure | 1,500,000 | $ 1,400,000 |
Impaired Loans [Member] | Appraisal Discount Method [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure | $ 1,754,000 |
Note 18 - Assets and Liabilit86
Note 18 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Fair value | $ 556,144,000 | $ 570,074,000 |
Fair Value, Measurements, Recurring [Member] | ||
Fair value | 556,144,000 | 570,074,000 |
Interest rate swaps | 438,000 | 203,000 |
Total assets | 556,582,000 | 570,277,000 |
Interest rate swaps | 331,000 | 178,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | 776,000 | 75,697,000 |
Interest rate swaps | ||
Total assets | 776,000 | 75,697,000 |
Interest rate swaps | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | 555,368,000 | 494,377,000 |
Interest rate swaps | 438,000 | 203,000 |
Total assets | 555,806,000 | 494,580,000 |
Interest rate swaps | 331,000 | 178,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value | ||
Interest rate swaps | ||
Total assets | 0 | 0 |
Interest rate swaps | ||
US Government-sponsored Enterprises Debt Securities [Member] | ||
Fair value | 339,946,000 | 268,090,000 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair value | 339,946,000 | 268,090,000 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | ||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | 339,946,000 | 268,090,000 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value | ||
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair value | 74,998,000 | |
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | 74,998,000 | |
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | ||
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair value | 160,558,000 | 168,843,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair value | 160,558,000 | 168,843,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | 160,558,000 | 168,843,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Fair value | 54,864,000 | 57,444,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair value | 54,864,000 | 57,444,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | 54,864,000 | 57,444,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value | ||
Common Stock [Member] | ||
Fair value | 776,000 | 699,000 |
Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair value | 776,000 | 699,000 |
Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | 776,000 | 699,000 |
Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | ||
Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value |
Note 18 - Assets and Liabilit87
Note 18 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Other real estate owned | $ 333 | ||
Fair Value, Measurements, Nonrecurring [Member] | |||
Impaired loans | 1,523 | $ 1,393 | |
Impaired loans | (452) | (406) | |
Other real estate owned | 3,444 | 4,488 | |
Other real estate owned | |||
Total | 4,967 | 5,881 | |
Total | (452) | $ (406) | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Impaired loans | |||
Other real estate owned | |||
Total | |||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Impaired loans | |||
Other real estate owned | |||
Total | |||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Impaired loans | 1,523 | 1,393 | |
Other real estate owned | 3,444 | 4,488 | |
Total | $ 4,967 | $ 5,881 |
Note 18 - Assets and Liabilit88
Note 18 - Assets and Liabilities Measured and Reported at Fair Value - Significant Unobservable Inputs (Details) - Appraisal Discount Method [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Impaired Loans [Member] | ||
Assets, Fair Value Disclosure | $ 1,500,000 | $ 1,400,000 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure | $ 1,754,000 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | ||
Weighted average of input | 8.80% | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure | $ 3,444,000 | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | ||
Weighted average of input | 21.40% |
Note 19 - Disclosure of Finan89
Note 19 - Disclosure of Financial Instruments Not Reported at Fair Value - Financial Assets and Financial Liabilities That Are Not Measured and Reported at Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financial assets | ||
Cash and short-term investments | $ 89,481 | $ 47,973 |
Accrued interest receivable | 7,461 | 6,878 |
Financial liabilities | ||
Accrued interest payable | 156 | 144 |
Reported Value Measurement [Member] | ||
Financial assets | ||
Cash and short-term investments | 89,481 | 47,973 |
Mortgage loans held for sale | 3,884 | 3,213 |
Federal Home Loan Bank stock and other securities | 6,347 | 6,347 |
Loans, net | 2,248,297 | 2,281,368 |
Accrued interest receivable | 7,461 | 6,878 |
Financial liabilities | ||
Deposits | 2,544,255 | 2,520,548 |
Short-term borrowings | 76,676 | 114,969 |
FHLB advances | 50,755 | 51,075 |
Accrued interest payable | 156 | 144 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets | ||
Cash and short-term investments | 89,481 | 47,973 |
Mortgage loans held for sale | 4,024 | 3,481 |
Federal Home Loan Bank stock and other securities | 6,347 | 6,347 |
Loans, net | 2,246,045 | 2,284,569 |
Accrued interest receivable | 7,461 | 6,878 |
Financial liabilities | ||
Deposits | 2,543,248 | 2,519,725 |
Short-term borrowings | 76,676 | 114,969 |
FHLB advances | 50,636 | 50,806 |
Accrued interest payable | 156 | 144 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Cash and short-term investments | 89,481 | 47,973 |
Mortgage loans held for sale | ||
Federal Home Loan Bank stock and other securities | ||
Loans, net | ||
Accrued interest receivable | 7,461 | 6,878 |
Financial liabilities | ||
Deposits | ||
Short-term borrowings | ||
FHLB advances | ||
Accrued interest payable | 156 | 144 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Cash and short-term investments | ||
Mortgage loans held for sale | 4,024 | 3,481 |
Federal Home Loan Bank stock and other securities | 6,347 | 6,347 |
Loans, net | ||
Accrued interest receivable | ||
Financial liabilities | ||
Deposits | ||
Short-term borrowings | 76,676 | 114,969 |
FHLB advances | 50,636 | 50,806 |
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Cash and short-term investments | ||
Mortgage loans held for sale | ||
Federal Home Loan Bank stock and other securities | ||
Loans, net | 2,246,045 | 2,284,569 |
Accrued interest receivable | ||
Financial liabilities | ||
Deposits | 2,543,248 | 2,519,725 |
Short-term borrowings | ||
FHLB advances | ||
Accrued interest payable |
Note 20 - Regulatory Matters -
Note 20 - Regulatory Matters - Risk Based Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Total risk-based capital, actual amount | [1] | $ 343,918 | $ 338,525 |
Total risk-based capital, actual ratio | [1] | 13.49% | 13.04% |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 203,954 | $ 207,684 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 8.00% | 8.00% |
Common Equity Tier 1 risk-based capital, actual amount | $ 319,032 | $ 314,147 | |
Common Equity Tier 1 risk-based capital, actual ratio | 12.51% | 12.10% | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 114,760 | $ 116,832 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | 4.50% | 4.50% | |
Tier 1 risk-based capital, actual amount | [1] | $ 319,032 | $ 314,147 |
Tier 1 risk-based capital, actual ratio | [1] | 12.51% | 12.10% |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 153,013 | $ 155,775 |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 6.00% | 6.00% |
Leverage, actual amount | [2] | $ 319,032 | $ 314,147 |
Leverage, actual ratio | [2] | 10.64% | 10.54% |
Leverage, minimum for adequately capitalized amount | [2] | $ 119,937 | $ 119,221 |
Leverage, minimum for adequately capitalized ratio | [2] | 4.00% | 4.00% |
Subsidiaries [Member] | |||
Total risk-based capital, actual amount | [1] | $ 331,948 | $ 325,630 |
Total risk-based capital, actual ratio | [1] | 13.05% | 12.57% |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 203,493 | $ 207,243 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 8.00% | 8.00% |
Total risk-based capital, minimum for well capitalized amount | [1] | $ 254,366 | $ 259,053 |
Total risk-based capital, minimum for well capitalized ratio | [1] | 10.00% | 10.00% |
Common Equity Tier 1 risk-based capital, actual amount | $ 307,062 | $ 301,252 | |
Common Equity Tier 1 risk-based capital, actual ratio | 12.07% | 11.63% | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 114,480 | $ 116,564 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | 4.50% | 4.50% | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized amount | $ 152,641 | $ 155,418 | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | 6.00% | 6.00% | |
Tier 1 risk-based capital, actual amount | [1] | $ 307,062 | $ 301,252 |
Tier 1 risk-based capital, actual ratio | [1] | 12.07% | 11.63% |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 152,641 | $ 155,418 |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 6.00% | 6.00% |
Tier 1 risk-based capital, minimum for well capitalized amount | [1] | $ 152,641 | $ 155,418 |
Tier 1 risk-based capital, minimum for well capitalized ratio | [1] | 6.00% | 6.00% |
Leverage, actual amount | [2] | $ 307,062 | $ 301,252 |
Leverage, actual ratio | [2] | 10.25% | 10.11% |
Leverage, minimum for adequately capitalized amount | [2] | $ 119,829 | $ 119,190 |
Leverage, minimum for adequately capitalized ratio | [2] | 4.00% | 4.00% |
Leverage, minimum for well capitalized amount | [2] | $ 149,786 | $ 148,987 |
Leverage, minimum for well capitalized ratio | [2] | 5.00% | 5.00% |
[1] | Ratio is computed in relation to risk-weighted assets. | ||
[2] | Ratio is computed in relation to average assets. |