Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 26, 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) | 22,659,928 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 44,902 | $ 39,709 |
Federal funds sold and interest bearing deposits | 80,223 | 8,264 |
Cash and cash equivalents | 125,125 | 47,973 |
Mortgage loans held for sale | 3,055 | 3,213 |
Securities available-for-sale (amortized cost of $576,776 in 2017 and $571,936 in 2016) | 576,291 | 570,074 |
Federal Home Loan Bank stock and other securities | 7,666 | 6,347 |
Loans | 2,309,668 | 2,305,375 |
Less allowance for loan losses | 25,115 | 24,007 |
Net loans | 2,284,553 | 2,281,368 |
Premises and equipment, net | 41,431 | 42,384 |
Bank owned life insurance | 31,656 | 31,867 |
Accrued interest receivable | 6,865 | 6,878 |
Other assets | 50,120 | 49,377 |
Total assets | 3,126,762 | 3,039,481 |
Liabilities and Stockholders’ Equity | ||
Non-interest bearing | 696,085 | 680,156 |
Interest bearing | 1,782,461 | 1,840,392 |
Total deposits | 2,478,546 | 2,520,548 |
Securities sold under agreements to repurchase | 65,024 | 67,595 |
Federal funds purchased and other short-term borrowings | 161,463 | 47,374 |
Federal Home Loan Bank advances | 50,433 | 51,075 |
Accrued interest payable | 187 | 144 |
Other liabilities | 44,609 | 38,873 |
Total liabilities | 2,800,262 | 2,725,609 |
Stockholders’ equity: | ||
Preferred stock, no par value. Authorized 1,000,000 shares; no shares issued or outsanding | 0 | 0 |
Common stock, no par value. Authorized 40,000,000 shares; issued and outstanding 22,662,338 and 22,617,098 shares in 2017 and 2016, respectively | 36,400 | 36,250 |
Additional paid-in capital | 29,753 | 26,682 |
Retained earnings | 260,956 | 252,439 |
Accumulated other comprehensive loss | (609) | (1,499) |
Total stockholders’ equity | 326,500 | 313,872 |
Total liabilities and stockholders’ equity | $ 3,126,762 | $ 3,039,481 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Securities available for sale, amortized cost | $ 576,776 | $ 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) | 22,662,338 | 22,617,098 |
Common stock, shares outstanding (in shares) | 22,662,338 | 22,617,098 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest income: | ||||
Loans | $ 24,351 | $ 22,563 | $ 48,411 | $ 44,556 |
Federal funds sold and interest bearing deposits | 276 | 111 | 410 | 300 |
Mortgage loans held for sale | 53 | 59 | 97 | 119 |
Securities – taxable | 2,056 | 2,123 | 4,170 | 4,278 |
Securities – tax-exempt | 277 | 306 | 558 | 609 |
Total interest income | 27,013 | 25,162 | 53,646 | 49,862 |
Interest expense: | ||||
Deposits | 1,481 | 979 | 2,644 | 1,975 |
Federal funds purchased and other short-term borrowing | 29 | 23 | 48 | 38 |
Securities sold under agreements to repurchase | 32 | 29 | 67 | 62 |
Federal Home Loan Bank advances | 239 | 181 | 471 | 368 |
Total interest expense | 1,781 | 1,212 | 3,230 | 2,443 |
Net interest income | 25,232 | 23,950 | 50,416 | 47,419 |
Provision for loan losses | 600 | 750 | 1,500 | 1,250 |
Net interest income after provision for loan losses | 24,632 | 23,200 | 48,916 | 46,169 |
Non-interest income: | ||||
Wealth management and trust services | 5,153 | 4,807 | 10,247 | 9,419 |
Service charges on deposit accounts | 2,439 | 2,262 | 4,846 | 4,408 |
Bankcard transactions | 1,514 | 1,433 | 2,920 | 2,743 |
Mortgage banking | 897 | 1,030 | 1,599 | 1,824 |
Securities brokerage | 494 | 538 | 1,033 | 981 |
Bank owned life insurance | 556 | 220 | 760 | 441 |
Other | 622 | 488 | 1,067 | 1,044 |
Total non-interest income | 11,675 | 10,778 | 22,472 | 20,860 |
Non-interest expenses: | ||||
Salaries and employee benefits | 12,849 | 11,971 | 26,261 | 24,166 |
Net occupancy | 1,514 | 1,546 | 3,144 | 3,070 |
Data processing | 2,121 | 1,881 | 3,989 | 3,425 |
Furniture and equipment | 268 | 291 | 545 | 576 |
FDIC insurance | 244 | 351 | 474 | 679 |
Amortization of investments in tax credit partnerships | 615 | 1,016 | 1,231 | 2,031 |
Other | 3,735 | 3,137 | 6,850 | 5,786 |
Total non-interest expenses | 21,346 | 20,193 | 42,494 | 39,733 |
Income before income taxes | 14,961 | 13,785 | 28,894 | 27,296 |
Income tax expense | 4,359 | 3,676 | 7,501 | 7,352 |
Net income | $ 10,602 | $ 10,109 | $ 21,393 | $ 19,944 |
Net income per share: | ||||
Basic (in dollars per share) | $ 0.47 | $ 0.45 | $ 0.94 | $ 0.89 |
Diluted (in dollars per share) | $ 0.46 | $ 0.45 | $ 0.92 | $ 0.88 |
Average common shares: | ||||
Basic (in shares) | 22,783 | 22,336 | 22,788 | 22,295 |
Diluted (in shares) | 23,241 | 22,704 | 23,271 | 22,658 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net income | $ 10,602 | $ 10,109 | $ 21,393 | $ 19,944 |
Other comprehensive income, net of tax: | ||||
Unrealized gains arising during the period , net of tax expense of $112, $863, $482, and $2,831, respectively | 206 | 1,603 | 895 | 5,256 |
Unrealized losses arising during the period, net of tax benefit of $49, $53, $2, $236, respectively | (90) | (99) | (5) | (438) |
Other comprehensive income, net of tax | 116 | 1,504 | 890 | 4,818 |
Comprehensive income | $ 10,718 | $ 11,613 | $ 22,283 | $ 24,762 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Unrealized gains on securities available for sale, tax | $ 112 | $ 863 | $ 438 | $ 2,831 |
Unrealized losses on hedging instruments, tax | $ 49 | $ 53 | $ 2 | $ 236 |
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 | 14,919 | ||||
Balance at December 31, 2015 at Dec. 31, 2015 | $ 10,616 | $ 44,180 | $ 231,091 | $ 632 | $ 286,519 |
Net income | 19,944 | 19,944 | |||
Other comprehensive income, net of tax | 4,818 | 4,818 | |||
Stock compensation expense | 1,073 | 1,073 | |||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 103 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 342 | 1,829 | (1,689) | 482 | |
3 for 2 stock split (in shares) | 7,494 | ||||
3 for 2 stock split | $ 24,956 | (24,956) | |||
Cash dividends | (7,785) | (7,785) | |||
Shares cancelled (in shares) | (6) | ||||
Shares cancelled | $ (20) | (164) | 184 | ||
Balance (in shares) at Jun. 30, 2016 | 22,510 | ||||
Balance at June 30, 2016 at Jun. 30, 2016 | $ 35,894 | 21,962 | 241,745 | 5,450 | 305,051 |
Balance (in shares) at Dec. 31, 2016 | 22,617 | ||||
Balance at December 31, 2015 at Dec. 31, 2016 | $ 36,250 | 26,682 | 252,439 | (1,499) | 313,872 |
Net income | 21,393 | 21,393 | |||
Other comprehensive income, net of tax | 890 | 890 | |||
Stock compensation expense | 1,342 | 1,342 | |||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 50 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 164 | 1,820 | (4,146) | (2,162) | |
Cash dividends | (8,835) | (8,835) | |||
Shares cancelled (in shares) | (5) | ||||
Shares cancelled | $ (14) | (91) | 105 | ||
Balance (in shares) at Jun. 30, 2017 | 22,662 | ||||
Balance at June 30, 2016 at Jun. 30, 2017 | $ 36,400 | $ 29,753 | $ 260,956 | $ (609) | $ 326,500 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) | 6 Months Ended | |
Jun. 30, 2017$ / shares | Jun. 30, 2016$ / shares | |
Common Stock [Member] | Stock Split To [Member] | ||
Stock split | 3 | |
Common Stock [Member] | Stock Split From [Member] | ||
Stock split | 2 | |
Retained Earnings [Member] | ||
Cash dividends, per share (in dollars per share) | $ 0.39 | $ 0.35 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Operating activities: | |||||
Net income | $ 10,602 | $ 10,109 | $ 21,393 | $ 19,944 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Provision for loan losses | 600 | 750 | 1,500 | 1,250 | $ 3,000 |
Depreciation, amortization and accretion, net | 4,399 | 5,292 | |||
Deferred income tax provision | (517) | 447 | |||
Gain on sales of mortgage loans held for sale | (963) | (1,103) | |||
Origination of mortgage loans held for sale | (49,168) | (57,433) | |||
Proceeds from sale of mortgage loans held for sale | 50,289 | 58,931 | |||
Bank owned life insurance income | (556) | (220) | (760) | (441) | |
Loss (gain) on the sale of other real estate | 64 | (443) | |||
Stock compensation expense | 1,342 | 1,073 | |||
Excess tax benefits from share-based compensation arrangements | (1,120) | (520) | |||
Decrease in accrued interest receivable and other assets | (4,015) | (5,246) | |||
Increase in accrued interest payable and other liabilities | 6,883 | 12,321 | |||
Net cash provided by operating activities | 29,327 | 34,072 | |||
Investing activities: | |||||
Purchases of securities available for sale | (251,196) | (227,714) | |||
Proceeds from sale of securities available for sale | |||||
Proceeds from maturities of securities available for sale | 245,010 | 232,825 | |||
Purchase of Federal Home Loan Bank stock | (1,319) | ||||
Net increase in loans | (4,685) | (144,605) | |||
Purchases of premises and equipment | (839) | (4,660) | |||
Proceeds from disposal of premises and equipment | 207 | ||||
Proceeds from mortality benefit of bank owned life insurance | 970 | ||||
Proceeds from sale of foreclosed assets | 1,784 | 1,401 | |||
Net cash used in investing activities | (10,068) | (142,753) | |||
Financing activities: | |||||
Net decrease in deposits | (42,002) | (21,754) | |||
Net increase in securities sold under agreements to repurchase and federal funds purchased | 111,518 | 84,588 | |||
Proceeds from Federal Home Loan Bank advances | 60,000 | 160,000 | |||
Repayments of Federal Home Loan Bank advances | (60,642) | (160,466) | |||
Proceeds (used for) and received from settlement of stock awards | (216) | 1,045 | |||
Excess tax benefits from share-based compensation arrangements | 520 | ||||
Common stock repurchases | (1,946) | (1,083) | |||
Cash dividends paid | (8,819) | (7,768) | |||
Net cash provided by financing activities | 57,893 | 55,082 | |||
Net increase (decrease) in cash and cash equivalents | 77,152 | (53,599) | |||
Cash and cash equivalents at beginning of period | 47,973 | 103,833 | 103,833 | ||
Cash and cash equivalents at end of period | $ 125,125 | $ 50,234 | 125,125 | 50,234 | $ 47,973 |
Supplemental cash flow information: | |||||
Income tax payments | 4,473 | 5,490 | |||
Cash paid for interest | 3,187 | 2,438 | |||
Supplemental non-cash activity: | |||||
Transfers from loans to other real estate owned | $ 1,511 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 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 instructions to Form 10 not 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 reported amounts of certain assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and 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 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 six June 30, 2017 not 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 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 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 not first 2017, 24 28 not Bancorp’s allowance calculation includes allocations to loan portfolio segments at June 30, 2017 may |
Note 2 - Securities
Note 2 - Securities | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 2 Securities The amortized cost, unrealized gains and losses, and fair value of securities available-for-sale follow: (in thousands) Amortized Unrealized Fair June 30, 2017 cost Gains Losses value Government sponsored enterprise obligations $ 366,762 $ 789 $ 873 $ 366,678 Mortgage-backed securities - government agencies 155,933 709 1,768 154,874 Obligations of states and political subdivisions 53,428 710 102 54,036 Corporate equity securities 653 50 - 703 Total securities available for sale $ 576,776 $ 2,258 $ 2,743 $ 576,291 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 June 30, 2017 December 31, 2016. Bancorp sold no three six June 30, 2016 2017. A summary of the available-for-sale investment securities by contractual maturity groupings as of June 30, 2017 (in thousands) Securities available-for-sale Amortized cost Fair value Due within 1 year $ 222,639 $ 222,690 Due after 1 but within 5 years 80,328 80,586 Due after 5 but within 10 years 15,689 15,626 Due after 10 years 101,534 101,812 Mortgage-backed securities – government agencies 155,933 154,874 Corporate equity securities 653 703 Total securities available-for-sale $ 576,776 $ 576,291 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 $314.2 June 30, 2017 $380.4 December 31, 2016. Securities with unrealized losses at June 30, 2017 December 31, 2016, not (in thousands) Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized June 30, 2017 value losses value losses value losses Government sponsored enterprise obligations $ 185,503 $ 663 $ 37,819 $ 210 $ 223,322 $ 873 Mortgage-backed securities - government agencies 87,161 1,383 9,952 385 97,113 1,768 Obligations of states and political subdivisions 12,948 68 2,853 34 15,801 102 Total temporarily impaired securities $ 285,612 $ 2,114 $ 50,624 $ 629 $ 336,236 $ 2,743 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 June 30, 2017 December 31, 2016. twelve not 12 Unrealized losses on Bancorp’s investment securities portfolio have not not not may not June 30, 2017. FHLB stock and other securities are investments held by Bancorp which are not |
Note 3 - Loans
Note 3 - Loans | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 3 Loans Composition of loans, net of deferred fees and costs, by primary loan portfolio class follows: (in thousands) June 30, 2017 December 31, 2016 Commercial and industrial $ 749,036 $ 736,841 Construction and development, excluding undeveloped land 175,627 192,348 Undeveloped land 20,992 21,496 Real estate mortgage: Commercial investment 547,196 538,886 Owner occupied commercial 408,558 408,292 1-4 family residential 255,939 249,498 Home equity - first lien 52,560 55,325 Home equity - junior lien 65,344 67,519 Subtotal: Real estate mortgage 1,329,597 1,319,520 Consumer 34,416 35,170 Total loans $ 2,309,668 $ 2,305,375 The following table presents the balance of the recorded investment in loans and allowance for loan losses by portfolio segment and based on impairment evaluation method as of June 30, 2017 December 31, 2016. (in thousands) Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate June 30, 2017 industrial land land mortgage Consumer Total Loans $ 749,036 $ 175,627 $ 20,992 $ 1,329,597 $ 34,416 $ 2,309,668 Loans collectively evaluated for impairment $ 746,390 $ 175,215 $ 20,519 $ 1,326,705 $ 34,359 $ 2,303,188 Loans individually evaluated for impairment $ 2,624 $ 412 $ 473 $ 2,310 $ 57 $ 5,876 Loans acquired with deteriorated credit quality $ 22 $ - $ - $ 582 $ - $ 604 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) 1,723 (110 ) (82 ) (129 ) 98 1,500 Charge-offs (482 ) - - (34 ) (257 ) (773 ) Recoveries 120 - - 64 197 381 At June 30, 2017 $ 11,844 $ 1,813 $ 602 $ 10,474 $ 382 $ 25,115 Allowance for loans collectively evaluated for impairment $ 10,916 $ 1,813 $ 602 $ 10,474 $ 325 $ 24,130 Allowance for loans individually evaluated for impairment $ 928 $ - $ - $ - $ 57 $ 985 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 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 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 not ● Undeveloped land: Loans in this category are secured by land acquired for development by the borrower, but for which no not ● 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 in addition to the borrower. Underlying properties are generally located in Bancorp's primary market areas. Cash flows of income producing investment properties 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 June 30, 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 June 30, 2017 $ - $ 148 The following tables present loans individually evaluated for impairment as of June 30, 2017 December 31, 2016. Unpaid Average (in thousands) Recorded principal Related recorded June 30, 2017 investment balance allowance investment Loans with no related allowance recorded: Commercial and industrial $ 40 $ 40 $ - $ 187 Construction and development, excluding undeveloped land 412 412 - 465 Undeveloped land 473 473 - 393 Real estate mortgage Commercial investment 165 171 - 147 Owner occupied commercial 1,309 1,501 - 1,196 1-4 family residential 667 740 - 750 Home equity - first lien - - - - Home equity - junior lien 169 180 - 272 Subtotal: Real estate mortgage 2,310 2,592 - 2,365 Consumer - - - - Subtotal $ 3,235 $ 3,517 $ - $ 3,410 Loans with an allowance recorded: Commercial and industrial $ 2,584 $ 3,167 $ 928 $ 2,529 Construction and development, excluding undeveloped land - - - - Undeveloped land - - - 80 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 57 57 57 58 Subtotal $ 2,641 $ 3,224 $ 985 $ 2,667 Total: Commercial and industrial $ 2,624 $ 3,207 $ 928 $ 2,716 Construction and development, excluding undeveloped land 412 412 - 465 Undeveloped land 473 473 - 473 Real estate mortgage Commercial investment 165 171 - 147 Owner occupied commercial 1,309 1,501 - 1,196 1-4 family residential 667 740 - 750 Home equity - first lien - - - - Home equity - junior lien 169 180 - 272 Subtotal: Real estate mortgage 2,310 2,592 - 2,365 Consumer 57 57 57 58 Total $ 5,876 $ 6,741 $ 985 $ 6,077 Unpaid Average (in thousands) 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 895 896 - 962 Home equity - first lien - - - 3 Home equity - junior lien 472 472 - 333 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 895 896 - 962 Home equity - first lien - - - 3 Home equity - junior lien 472 472 - 333 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 are due to partial charge-offs and interest and late charges paid on non-accrual loans which have occurred over the life of loans. Unpaid principal balance is reduced by these items to arrive at the recorded investment in the loan. 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 $231 90 June 30, 2017, $438 December 31, 2016. The following table presents the recorded investment in non-accrual loans as of June 30, 2017 December 31, 2016. (in thousands) June 30, 2017 December 31, 2016 Commercial and industrial $ 1,718 $ 1,767 Construction and development, excluding undeveloped land 412 538 Undeveloped land 473 474 Real estate mortgage Commercial investment 165 107 Owner occupied commercial 1,309 1,042 1-4 family residential 667 984 Home equity - first lien - - Home equity - junior lien 169 383 Subtotal: Real estate mortgage 2,310 2,516 Consumer - - Total $ 4,913 $ 5,295 may not At June 30, 2017 $963 No three June 30, 2017. One $37,000 June 30, 2017, six June 30, 2017. $39,000 At June 30, 2016 $1.0 not three six June 30, 2016. No twelve June 30, 2017 three six June 30, 2017. June 30, 2017, $171 $207 December 31, 2016. At June 30, 2017 December 31, 2016, not At June 30, 2017 two $75 The following table presents aging of the recorded investment in loans as of June 30, 2017 December 31, 2016. (in thousands) June 30, 2017 Current 30-59 days past due 60-89 days 90 or more days past due (includes) non-accrual) Total past due Total loans Recorded investment > 90 days and accruing Commercial and industrial $ 746,564 $ 95 $ 659 $ 1,718 $ 2,472 $ 749,036 $ - Construction and development, excluding undeveloped land 175,215 - - 412 412 175,627 - Undeveloped land 20,519 - - 473 473 20,992 - Real estate mortgage Commercial investment 546,775 178 78 165 421 547,196 - Owner occupied commercial 407,065 - 125 1,368 1,493 408,558 59 1-4 family residential 254,068 1,026 6 839 1,871 255,939 172 Home equity - first lien 52,517 21 22 - 43 52,560 - Home equity - junior lien 64,930 221 24 169 414 65,344 - Subtotal: Real estate mortgage 1,325,355 1,446 255 2,541 4,242 1,329,597 231 Consumer 34,390 25 1 - 26 34,416 - Total $ 2,302,043 $ 1,566 $ 915 $ 5,144 $ 7,625 $ 2,309,668 $ 231 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 deficiencies are not ● 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 repayment on the basis of currently existing facts, conditions and values, highly questionable and improbable. As of June 30, 2017 December 31, 2016, (in thousands) June 30, 2017 Pass OAEM Substandard Substandard non-performing Doubtful Total loans Commercial and industrial $ 716,183 $ 15,290 $ 14,939 $ 2,624 $ - $ 749,036 Construction and development, excluding undeveloped land 174,890 - 325 412 - 175,627 Undeveloped land 20,489 - 30 473 - 20,992 Real estate mortgage Commercial investment 545,429 1,581 21 165 - 547,196 Owner occupied commercial 397,218 6,891 3,081 1,368 - 408,558 1-4 family residential 253,227 1,012 861 839 - 255,939 Home equity - first lien 52,560 - - - - 52,560 Home equity - junior lien 64,848 9 318 169 - 65,344 Subtotal: Real estate mortgage 1,313,282 9,493 4,281 2,541 - 1,329,597 Consumer 34,237 104 18 57 - 34,416 Total $ 2,259,081 $ 24,887 $ 19,593 $ 6,107 $ - $ 2,309,668 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 - Goodwill and Intangibl
Note 4 - Goodwill and Intangible Assets | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | ( 4 Goodwill and Intangible Assets US GAAP requires that goodwill and intangible assets with indefinite useful lives not no $682 1996 Bancorp recorded a gross core deposit intangible totaling $2.5 2013 June 30, 2017, $1.3 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 both June 30, 2017 December 31, 2016 $2.7 $356.4 $372.2 June 30, 2017, December 31, 2016, Changes in the net carrying amount of MSRs for the six June 30, 2017 2016 For the six months ended June 30, (in thousands) 2017 2016 Balance at beginning of period $ 921 $ 1,018 Additions for mortgage loans sold 93 70 Amortization (145 ) (118 ) Balance at end of period $ 869 $ 970 |
Note 5 - Income Taxes
Note 5 - Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 5 Income Taxes Components of income tax expense from operations were as follows: Three months ended Six months ended June 30, June 30, (in thousands) 2017 2016 2017 2016 Current income tax expense Federal $ 4,722 $ 4,222 $ 7,725 $ 6,595 State 179 186 293 310 Total current income tax expense 4,901 4,408 8,018 6,905 Deferred income tax (benefit) expense Federal (631 ) (711 ) (657 ) 390 State (24 ) (21 ) 14 57 Total deferred income tax expense (benefit) (655 ) (732 ) (643 ) 447 Change in valuation allowance 113 - 126 - Total income tax expense $ 4,359 $ 3,676 $ 7,501 $ 7,352 An analysis of the difference between statutory and effective income tax rates for the six June 30, 2017 2016 Six months ended June 30, 2017 2016 U.S. federal statutory income tax rate 35.0 % 35.0 % Tax credits (5.3 ) (9.5 ) Excess tax benefits from share-based compensation arrangements (3.8 ) - Increase in cash surrender value of life insurance (1.6 ) (0.9 ) Tax exempt interest income (1.1 ) (1.3 ) State income taxes, net of federal benefit 0.7 0.9 Other, net 2.1 2.7 Effective income tax rate 26.0 % 26.9 % State income tax expense represents taxes 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 the first six 2017 2016 09, December 15, 2016, 2016 09 2017 not 2017, three six June 30, 2017 $99 $1.1 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 June 30, 2017 December 31, 2016, 2012. |
Note 6 - Deposits
Note 6 - Deposits | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | ( 6 Deposits The composition of the Bank’s deposits outstanding at June 30, 2017 ( December 31, 2016 June 30, December 31, 2017 2016 (in thousands) Non-interest bearing demand $ 696,085 $ 680,156 Interest bearing deposits: Interest bearing demand 717,893 768,139 Savings 151,811 140,030 Money market 677,482 682,421 Time deposits of more than $250,000 35,242 40,427 Other time deposits 200,033 209,375 Total time deposits 235,275 249,802 Total interest bearing deposits 1,782,461 1,840,392 Total deposits $ 2,478,546 $ 2,520,548 Maturities of time deposits of more than $250,000, June 30, 2017, (in thousands) Amount 3 months or less $ 9,463 Over 3 through 6 months 8,736 Over 6 through 12 months 5,982 Over 1 through 3 years 7,534 Over 3 years 3,527 Total $ 35,242 |
Note 7 - Securities Sold Under
Note 7 - Securities Sold Under Agreements to Repurchase | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | ( 7 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 $65.0 $67.6 June 30, 2017 December 31, 2016, June 30, 2017, |
Note 8 - Federal Home Loan Bank
Note 8 - Federal Home Loan Bank Advances | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | ( 8 Federal Home Loan Bank Advances Bancorp had outstanding borrowings totaling $50.4 $51.1 June 30, 2017 December 31, 2016, 14 June 30, 2017, two $30 $20.4 The following is a summary of contractual maturities and average effective rates of outstanding advances: (In thousands) June 30, 2017 December 31, 2016 Year Advance Fixed Rate Advance Fixed Rate 2017 $ 30,000 1.18 % $ 30,000 0.70 % 2020 1,765 2.23 1,790 2.23 2021 324 2.12 359 2.12 2024 2,558 2.36 2,661 2.36 2025 5,752 2.43 6,025 2.43 2026 8,751 1.99 8,936 1.99 2028 1,283 1.48 1,304 1.48 Total $ 50,433 1.57 % $ 51,075 1.30 % In addition to fixed-rate advances listed above, at June 30, 2017 $150 first July, 2017 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 June 30, 2017, $316.8 |
Note 9 - Other Comprehensive In
Note 9 - Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 9 Other Comprehensive Income The following table illustrates activity within the balances of accumulated other comprehensive income by component, and is shown for the six June 30, 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) 5,256 (438 ) - 4,818 Balance at June 30, 2016 $ 6,221 $ (498 ) $ (273 ) $ 5,450 Balance at December 31, 2016 $ (1,211 ) $ (16 ) $ (272 ) $ (1,499 ) Net current period other comprehensive income gain (loss) 895 (5 ) - 890 Balance at June 30, 2017 $ (316 ) $ (21 ) $ (272 ) $ (609 ) |
Note 10 - Preferred Stock
Note 10 - Preferred Stock | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | ( 10 Preferred Stock Bancorp has a class of preferred stock ( no 1,000,000 None |
Note 11 - Net Income Per Share
Note 11 - Net Income Per Share | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 11 Net Income Per Share The following table reflects, for the three six June 30, 2017 2016, Three months ended Six months ended (in thousands, except per share data) June 30, June 30, 2017 2016 2017 2016 Net income $ 10,602 $ 10,109 $ 21,393 $ 19,944 Average shares outstanding 22,783 22,336 22,788 22,295 Dilutive securities 458 368 483 363 Average shares outstanding including dilutive securities including dilutive securities 23,241 22,704 23,271 22,658 Net income per share, basic $ 0.47 $ 0.45 $ 0.94 $ 0.89 Net income per share, diluted $ 0.46 $ 0.45 $ 0.92 $ 0.88 |
Note 12 - Defined Benefit Retir
Note 12 - Defined Benefit Retirement Plan | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ( 12 Defined Benefit Retirement Plan Bancorp sponsors an unfunded, non-qualified, defined benefit retirement plan for three two one no 25 three June 2017. $34 three June 30, 2017 2016. six June 30, 2017 2016, $69 $67 |
Note 13 - Stock-based Compensat
Note 13 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ( 13 Stock-Based Compensation 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 No June 30, 2017, 277,216 Options, which have not 2007, 20% February 2017; 20% ten 2005 2025. Restricted shares granted to officers vest over five 2015, 2015, 2016, 2017, Grants of performance stock units (“PSUs”) vest based upon service and a three January 1 first not 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 For six months ended June 30, June 30, (in thousands) 2017 2016 2017 2016 Stock-based compensation expense before income taxes $ 682 $ 560 $ 1,342 $ 1,073 Less: deferred tax benefit (239 ) (196 ) (470 ) (376 ) Reduction of net income $ 443 $ 364 $ 872 $ 697 Bancorp’s net income for the three six June 30, 2017 2016 09 2017 not 2017 three six June 30, 2017 $99 $1.1 not Bancorp expects to record an additional $1.4 2017 June 30, 2017. June 30, 2017, $5.6 five $216 first six 2017 $1.0 first six 2016 Fair values of Bancorp’s 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 input of assumptions, changes to which can materially affect the fair value estimate. Fair value of restricted shares is equal to 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 (in years) 7.0 7.3 Dividend yield and expected volatility are based on historical information for Bancorp for time periods corresponding to the expected life of options and SARs granted. Expected volatility is the price volatility of the underlying shares for the expected term measured 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 award. 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 six June 30, 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 - 6.34 Exercised (22 ) 14.02 - 17.89 15.54 644 3.43 Forfeited - - - - - At June 30, 2017 Vested and exercisable 544 14.02 - 25.76 16.34 12,261 3.15 4.3 Unvested 215 15.24 - 40.00 26.45 2,729 4.17 8.2 Total outstanding 759 14.02 - 40.00 19.17 $ 14,990 3.44 5.4 Vested year-to-date 92 $15.24 - 25.76 $ 19.34 $ 1,795 $ 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. 46,410 zero June 30, 2017. no June 30, 2017; A summary of activity for restricted shares of common stock granted to officers for the periods ending December 31, 2016 June 30, 2017 Grant date weighted- Number average cost Unvested at December 31, 2015 155,858 $ 18.98 2016 activity: 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 2017 activity: Shares awarded 28,625 44.85 Restrictions lapsed and shares released (46,220 ) 19.76 Shares forfeited (4,374 ) 24.10 Unvested at June 30, 2017 123,266 $ 27.57 Bancorp awarded PSUs to executive officers of Bancorp, the three January 1 January 2017 2014 50,022. The following table outlines outstanding PSU grants: 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 No three June 30, 2017. |
Note 14 - Stock Split
Note 14 - Stock Split | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | ( 14 Stock Split On April 29, 2016 3 2 50% May 13, 2016, May 27, 2016. |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 15 Commitments and Contingent Liabilities As of June 30, 2017, not June 30, 2017 $670.4 $17.0 $628.3 $15.6 December 31, 2016. no not may June 30, 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 June 30, 2017, not |
Note 16 - Assets and Liabilitie
Note 16 - Assets and Liabilities Measured and Reported at Fair Value | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | ( 16 Assets and Liabilities Measured and Reported at Fair Value 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 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: not ● Level 3: not Authoritative guidance requires maximum use of observable inputs and minimum use of unobservable inputs in fair value measurements. Where there exists limited or no may not 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 publicly traded 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 not perform and the change in value of derivative assets and liabilities attributable to credit risk was not 2017. Below are the carrying values of assets measured at fair value on a recurring basis. (in thousands) Fair value at June 30, 2017 Assets Total Level 1 Level 2 Level 3 Investment securities available-for-sale Government sponsored enterprise obligations $ 366,678 $ - $ 366,678 $ - Mortgage-backed securities - government agencies 154,874 - 154,874 - Obligations of states and political subdivisions 54,036 - 54,036 - Corporate equity securities 703 703 - - Total investment securities available-for-sale 576,291 703 575,588 - Interest rate swaps 13 - 13 - Total assets $ 576,304 $ 703 $ 575,601 $ - Liabilities Interest rate swaps $ 45 $ - $ 45 $ - (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 June 30, 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. June 30, 2017 December 31, 2016 no not June 30, 2017 December 31, 2016. 4 For impaired loans in the table below, fair value is calculated as 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 June 30, 2017, $2.6 $985 $1.7 $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 not 3. June 30, 2017 December 31, 2016, $3.2 $5.0 Below are carrying values of assets measured at fair value on a non-recurring basis. (in thousands) Fair value at June 30, 2017 Losses for 6 month period ended Total Level 1 Level 2 Level 3 June 30, 2017 Impaired loans $ 1,666 $ - $ - $ 1,666 $ (307 ) Other real estate owned 2,640 - - 2,640 (171 ) Total $ 4,306 $ - $ - $ 4,306 $ (478 ) (in thousands) Fair value at December 31, 2016 Losses for 6 month period ended Total Level 1 Level 2 Level 3 June 30, 2016 Impaired loans $ 1,393 $ - $ - $ 1,393 $ (173 ) Other real estate owned 4,488 - - 4,488 - Total $ 5,881 $ - $ - $ 5,881 $ (173 ) 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 six June 30, 2017, no 1, 2, 3. 3 June 30, 2017, Significant Weighted Fair Valuation unobservable average of (dollars in thousands) Value technique input input Impaired loans - collateral dependent $ 1,666 Appraisal Appraisal discounts 5.2 % Other real estate owned 2,640 Appraisal Appraisal discounts 23.4 |
Note 17 - Disclosure of Financi
Note 17 - Disclosure of Financial Instruments Not Reported at Fair Value | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 17 Disclosure of Financial Instruments Not US GAAP requires disclosure of the fair value of financial assets and liabilities, including those financial assets and financial liabilities that are not (in thousands) Carrying June 30, 2017 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 125,125 $ 125,125 $ 125,125 $ - $ - Mortgage loans held for sale 3,055 3,121 - 3,121 - Federal Home Loan Bank stock and other securities 7,666 7,666 - 7,666 - Loans, net 2,284,553 2,290,556 - - 2,290,556 Accrued interest receivable 6,865 6,865 6,865 - - Financial liabilities Deposits 2,478,546 2,477,385 - - 2,477,385 Short-term borrowings 226,487 226,487 - 226,487 - FHLB advances 50,433 50,531 - 50,531 - Accrued interest payable 187 187 187 - - (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 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 Limitations Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. Because no may not |
Note 18 - Derivative Financial
Note 18 - Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ( 18 Derivative Financial Instruments Periodically, Bancorp enters into an interest rate swap transaction with a borrower, who desires to hedge their exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. These are undesignated derivative instruments and 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 undesignated interest rate swap agreements for the first six 2017 no 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 not At June 30, 2017 December 31, 2016, (dollar amounts in thousands) Receiving Paying June 30, December 31, June 30, December 31, 2017 2016 2017 2016 Notional amount $ 47,000 $ 43,986 $ 47,000 $ 43,986 Weighted average maturity (years) 9.7 9.9 9.7 9.9 Fair value $ - $ (178 ) $ (13 ) $ 178 In 2016, $10 three December 6, 2016 December 6, 2021. 2015, $20 three December 9, 2015 December 6, 2020. STOCK YARDS BANCORP, INC. AND SUBSIDIARY The following table details Bancorp’s derivative position designated as a cash flow hedges, and fair values as of June 30, 2017 December 31, 2016. (dollars in thousands) Fair value Notional Maturity Receive (variable) Pay fixed assets (liabilities) amount date index swap rate June 30, 2017 December 31, 2016 $ 10,000 12/6/2021 US 3 Month LIBOR 1.89 % $ (21 ) $ 16 20,000 12/6/2020 US 3 Month LIBOR 1.79 % (11 ) 9 $ 30,000 1.82 % $ (32 ) $ 25 |
Note 19 - Regulatory Matters
Note 19 - Regulatory Matters | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 19 Regulatory Matters Bancorp and the Bank are subject to various capital requirements prescribed by banking regulations and administered by state and federal banking agencies. The final rules implementing the Basel Committee on Banking Supervision's capital guidelines for U.S. banks (Basel III rules) became effective on January 1, 2015 January 1, 2019. The minimum capital level requirements applicable to banks and bank holding companies subject to the rules are: • a common equity tier 1 4.5%, • a tier 1 6% • a total risk-based capital ratio of 8% • a tier 1 4% Under these requirements, Bancorp and the Bank must meet minimum amounts and percentages of Tier 1 1 1 may The Basel III rules also established a capital conservation buffer of 2.5%, three December 31, 2018, • a common equity tier 1 7.0%, • a tier 1 8.5%, • a total risk-based capital ratio of 10.5%. The rules allowed banks and their holding companies with less than $250 one As of June 30, 2017, not The following tables set forth consolidated Bancorp’s and the Bank’s risk based capital amounts and ratios as of June 30, 2017 December 31, 2016. (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized June 30, 2017 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 351,241 13.49 % $ 208,297 8.00 % NA NA Bank 338,984 13.06 207,647 8.00 $ 259,559 10.00 Common equity tier 1 risk-based capital Consolidated 325,753 12.51 117,177 4.50 NA NA Bank 313,496 12.08 116,782 4.50 155,710 6.00 Tier 1 risk-based capital (1) Consolidated 325,753 12.51 156,236 6.00 NA NA Bank 313,496 12.08 155,710 6.00 155,710 6.00 Leverage (2) Consolidated 325,753 10.88 119,762 4.00 NA NA Bank 313,496 10.48 119,655 4.00 149,569 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 not |
Note 20 - Segments
Note 20 - Segments | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | ( 20 Segments Bancorp’s principal activities include commercial banking and wealth management and trust (WM&T). 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. WM&T 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 not 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 six June 30, 2017 2016 Wealth Commercial management (in thousands) banking and trust Total Three months ended June 30, 2017 Net interest income $ 25,152 $ 80 $ 25,232 Provision for loan losses 600 - 600 Wealth management and trust services - 5,153 5,153 All other non-interest income 6,522 - 6,522 Non-interest expense 18,164 3,182 21,346 Income before income taxes 12,910 2,051 14,961 Income tax expense 3,626 733 4,359 Net income $ 9,284 $ 1,318 $ 10,602 Segment assets $ 3,124,522 $ 2,240 $ 3,126,762 Three months ended June 30, 2016 Net interest income $ 23,888 $ 62 $ 23,950 Provision for loan losses 750 - 750 Wealth management and trust services - 4,807 4,807 All other non-interest income 5,971 - 5,971 Non-interest expense 17,297 2,896 20,193 Income before income taxes 11,812 1,973 13,785 Income tax expense 2,971 705 3,676 Net income $ 8,841 $ 1,268 $ 10,109 Segment assets $ 2,907,393 $ 2,126 $ 2,909,519 STOCK YARDS BANCORP, INC. AND SUBSIDIARY Wealth Commercial management (in thousands) banking and trust Total Six months ended June 30, 2017 Net interest income $ 50,259 $ 157 $ 50,416 Provision for loan losses 1,500 - 1,500 Wealth management and trust services - 10,247 10,247 All other non-interest income 12,225 - 12,225 Non-interest expense 36,265 6,229 42,494 Income before income taxes 24,719 4,175 28,894 Income tax expense 6,010 1,491 7,501 Net income $ 18,709 $ 2,684 $ 21,393 Segment assets $ 3,124,522 $ 2,240 $ 3,126,762 Six months ended June 30, 2016 Net interest income $ 47,295 $ 124 $ 47,419 Provision for loan losses 1,250 - 1,250 Wealth management and trust services - 9,419 9,419 All other non-interest income 11,441 - 11,441 Non-interest expense 34,192 5,541 39,733 Income before income taxes 23,294 4,002 27,296 Income tax expense 5,922 1,430 7,352 Net income $ 17,372 $ 2,572 $ 19,944 Segment assets $ 2,907,393 $ 2,126 $ 2,909,519 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 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 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 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 not first 2017, 24 28 not Bancorp’s allowance calculation includes allocations to loan portfolio segments at June 30, 2017 may |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | (in thousands) Amortized Unrealized Fair June 30, 2017 cost Gains Losses value Government sponsored enterprise obligations $ 366,762 $ 789 $ 873 $ 366,678 Mortgage-backed securities - government agencies 155,933 709 1,768 154,874 Obligations of states and political subdivisions 53,428 710 102 54,036 Corporate equity securities 653 50 - 703 Total securities available for sale $ 576,776 $ 2,258 $ 2,743 $ 576,291 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 $ 222,639 $ 222,690 Due after 1 but within 5 years 80,328 80,586 Due after 5 but within 10 years 15,689 15,626 Due after 10 years 101,534 101,812 Mortgage-backed securities – government agencies 155,933 154,874 Corporate equity securities 653 703 Total securities available-for-sale $ 576,776 $ 576,291 |
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 June 30, 2017 value losses value losses value losses Government sponsored enterprise obligations $ 185,503 $ 663 $ 37,819 $ 210 $ 223,322 $ 873 Mortgage-backed securities - government agencies 87,161 1,383 9,952 385 97,113 1,768 Obligations of states and political subdivisions 12,948 68 2,853 34 15,801 102 Total temporarily impaired securities $ 285,612 $ 2,114 $ 50,624 $ 629 $ 336,236 $ 2,743 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) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (in thousands) June 30, 2017 December 31, 2016 Commercial and industrial $ 749,036 $ 736,841 Construction and development, excluding undeveloped land 175,627 192,348 Undeveloped land 20,992 21,496 Real estate mortgage: Commercial investment 547,196 538,886 Owner occupied commercial 408,558 408,292 1-4 family residential 255,939 249,498 Home equity - first lien 52,560 55,325 Home equity - junior lien 65,344 67,519 Subtotal: Real estate mortgage 1,329,597 1,319,520 Consumer 34,416 35,170 Total loans $ 2,309,668 $ 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 June 30, 2017 industrial land land mortgage Consumer Total Loans $ 749,036 $ 175,627 $ 20,992 $ 1,329,597 $ 34,416 $ 2,309,668 Loans collectively evaluated for impairment $ 746,390 $ 175,215 $ 20,519 $ 1,326,705 $ 34,359 $ 2,303,188 Loans individually evaluated for impairment $ 2,624 $ 412 $ 473 $ 2,310 $ 57 $ 5,876 Loans acquired with deteriorated credit quality $ 22 $ - $ - $ 582 $ - $ 604 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) 1,723 (110 ) (82 ) (129 ) 98 1,500 Charge-offs (482 ) - - (34 ) (257 ) (773 ) Recoveries 120 - - 64 197 381 At June 30, 2017 $ 11,844 $ 1,813 $ 602 $ 10,474 $ 382 $ 25,115 Allowance for loans collectively evaluated for impairment $ 10,916 $ 1,813 $ 602 $ 10,474 $ 325 $ 24,130 Allowance for loans individually evaluated for impairment $ 928 $ - $ - $ - $ 57 $ 985 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 June 30, 2017 $ - $ 148 |
Impaired Financing Receivables [Table Text Block] | Unpaid Average (in thousands) Recorded principal Related recorded June 30, 2017 investment balance allowance investment Loans with no related allowance recorded: Commercial and industrial $ 40 $ 40 $ - $ 187 Construction and development, excluding undeveloped land 412 412 - 465 Undeveloped land 473 473 - 393 Real estate mortgage Commercial investment 165 171 - 147 Owner occupied commercial 1,309 1,501 - 1,196 1-4 family residential 667 740 - 750 Home equity - first lien - - - - Home equity - junior lien 169 180 - 272 Subtotal: Real estate mortgage 2,310 2,592 - 2,365 Consumer - - - - Subtotal $ 3,235 $ 3,517 $ - $ 3,410 Loans with an allowance recorded: Commercial and industrial $ 2,584 $ 3,167 $ 928 $ 2,529 Construction and development, excluding undeveloped land - - - - Undeveloped land - - - 80 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 57 57 57 58 Subtotal $ 2,641 $ 3,224 $ 985 $ 2,667 Total: Commercial and industrial $ 2,624 $ 3,207 $ 928 $ 2,716 Construction and development, excluding undeveloped land 412 412 - 465 Undeveloped land 473 473 - 473 Real estate mortgage Commercial investment 165 171 - 147 Owner occupied commercial 1,309 1,501 - 1,196 1-4 family residential 667 740 - 750 Home equity - first lien - - - - Home equity - junior lien 169 180 - 272 Subtotal: Real estate mortgage 2,310 2,592 - 2,365 Consumer 57 57 57 58 Total $ 5,876 $ 6,741 $ 985 $ 6,077 Unpaid Average (in thousands) 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 895 896 - 962 Home equity - first lien - - - 3 Home equity - junior lien 472 472 - 333 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 895 896 - 962 Home equity - first lien - - - 3 Home equity - junior lien 472 472 - 333 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) June 30, 2017 December 31, 2016 Commercial and industrial $ 1,718 $ 1,767 Construction and development, excluding undeveloped land 412 538 Undeveloped land 473 474 Real estate mortgage Commercial investment 165 107 Owner occupied commercial 1,309 1,042 1-4 family residential 667 984 Home equity - first lien - - Home equity - junior lien 169 383 Subtotal: Real estate mortgage 2,310 2,516 Consumer - - Total $ 4,913 $ 5,295 |
Past Due Financing Receivables [Table Text Block] | (in thousands) June 30, 2017 Current 30-59 days past due 60-89 days 90 or more days past due (includes) non-accrual) Total past due Total loans Recorded investment > 90 days and accruing Commercial and industrial $ 746,564 $ 95 $ 659 $ 1,718 $ 2,472 $ 749,036 $ - Construction and development, excluding undeveloped land 175,215 - - 412 412 175,627 - Undeveloped land 20,519 - - 473 473 20,992 - Real estate mortgage Commercial investment 546,775 178 78 165 421 547,196 - Owner occupied commercial 407,065 - 125 1,368 1,493 408,558 59 1-4 family residential 254,068 1,026 6 839 1,871 255,939 172 Home equity - first lien 52,517 21 22 - 43 52,560 - Home equity - junior lien 64,930 221 24 169 414 65,344 - Subtotal: Real estate mortgage 1,325,355 1,446 255 2,541 4,242 1,329,597 231 Consumer 34,390 25 1 - 26 34,416 - Total $ 2,302,043 $ 1,566 $ 915 $ 5,144 $ 7,625 $ 2,309,668 $ 231 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) June 30, 2017 Pass OAEM Substandard Substandard non-performing Doubtful Total loans Commercial and industrial $ 716,183 $ 15,290 $ 14,939 $ 2,624 $ - $ 749,036 Construction and development, excluding undeveloped land 174,890 - 325 412 - 175,627 Undeveloped land 20,489 - 30 473 - 20,992 Real estate mortgage Commercial investment 545,429 1,581 21 165 - 547,196 Owner occupied commercial 397,218 6,891 3,081 1,368 - 408,558 1-4 family residential 253,227 1,012 861 839 - 255,939 Home equity - first lien 52,560 - - - - 52,560 Home equity - junior lien 64,848 9 318 169 - 65,344 Subtotal: Real estate mortgage 1,313,282 9,493 4,281 2,541 - 1,329,597 Consumer 34,237 104 18 57 - 34,416 Total $ 2,259,081 $ 24,887 $ 19,593 $ 6,107 $ - $ 2,309,668 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 - Goodwill and Intangi33
Note 4 - Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | For the six months ended June 30, (in thousands) 2017 2016 Balance at beginning of period $ 921 $ 1,018 Additions for mortgage loans sold 93 70 Amortization (145 ) (118 ) Balance at end of period $ 869 $ 970 |
Note 5 - Income Taxes (Tables)
Note 5 - Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three months ended Six months ended June 30, June 30, (in thousands) 2017 2016 2017 2016 Current income tax expense Federal $ 4,722 $ 4,222 $ 7,725 $ 6,595 State 179 186 293 310 Total current income tax expense 4,901 4,408 8,018 6,905 Deferred income tax (benefit) expense Federal (631 ) (711 ) (657 ) 390 State (24 ) (21 ) 14 57 Total deferred income tax expense (benefit) (655 ) (732 ) (643 ) 447 Change in valuation allowance 113 - 126 - Total income tax expense $ 4,359 $ 3,676 $ 7,501 $ 7,352 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Six months ended June 30, 2017 2016 U.S. federal statutory income tax rate 35.0 % 35.0 % Tax credits (5.3 ) (9.5 ) Excess tax benefits from share-based compensation arrangements (3.8 ) - Increase in cash surrender value of life insurance (1.6 ) (0.9 ) Tax exempt interest income (1.1 ) (1.3 ) State income taxes, net of federal benefit 0.7 0.9 Other, net 2.1 2.7 Effective income tax rate 26.0 % 26.9 % |
Note 6 - Deposits (Tables)
Note 6 - Deposits (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | June 30, December 31, 2017 2016 (in thousands) Non-interest bearing demand $ 696,085 $ 680,156 Interest bearing deposits: Interest bearing demand 717,893 768,139 Savings 151,811 140,030 Money market 677,482 682,421 Time deposits of more than $250,000 35,242 40,427 Other time deposits 200,033 209,375 Total time deposits 235,275 249,802 Total interest bearing deposits 1,782,461 1,840,392 Total deposits $ 2,478,546 $ 2,520,548 |
Time Deposit Maturities [Table Text Block] | (in thousands) Amount 3 months or less $ 9,463 Over 3 through 6 months 8,736 Over 6 through 12 months 5,982 Over 1 through 3 years 7,534 Over 3 years 3,527 Total $ 35,242 |
Note 8 - Federal Home Loan Ba36
Note 8 - Federal Home Loan Bank Advances (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Maturities and Average Effective Interest Rates of Federal Home Loan Bank Advances Disclosure [Table Text Block] | (In thousands) June 30, 2017 December 31, 2016 Year Advance Fixed Rate Advance Fixed Rate 2017 $ 30,000 1.18 % $ 30,000 0.70 % 2020 1,765 2.23 1,790 2.23 2021 324 2.12 359 2.12 2024 2,558 2.36 2,661 2.36 2025 5,752 2.43 6,025 2.43 2026 8,751 1.99 8,936 1.99 2028 1,283 1.48 1,304 1.48 Total $ 50,433 1.57 % $ 51,075 1.30 % |
Note 9 - Other Comprehensive 37
Note 9 - Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 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) 5,256 (438 ) - 4,818 Balance at June 30, 2016 $ 6,221 $ (498 ) $ (273 ) $ 5,450 Balance at December 31, 2016 $ (1,211 ) $ (16 ) $ (272 ) $ (1,499 ) Net current period other comprehensive income gain (loss) 895 (5 ) - 890 Balance at June 30, 2017 $ (316 ) $ (21 ) $ (272 ) $ (609 ) |
Note 11 - Net Income Per Share
Note 11 - Net Income Per Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Six months ended (in thousands, except per share data) June 30, June 30, 2017 2016 2017 2016 Net income $ 10,602 $ 10,109 $ 21,393 $ 19,944 Average shares outstanding 22,783 22,336 22,788 22,295 Dilutive securities 458 368 483 363 Average shares outstanding including dilutive securities including dilutive securities 23,241 22,704 23,271 22,658 Net income per share, basic $ 0.47 $ 0.45 $ 0.94 $ 0.89 Net income per share, diluted $ 0.46 $ 0.45 $ 0.92 $ 0.88 |
Note 13 - Stock-based Compens39
Note 13 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | For three months ended For six months ended June 30, June 30, (in thousands) 2017 2016 2017 2016 Stock-based compensation expense before income taxes $ 682 $ 560 $ 1,342 $ 1,073 Less: deferred tax benefit (239 ) (196 ) (470 ) (376 ) Reduction of net income $ 443 $ 364 $ 872 $ 697 |
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 (in 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 - 6.34 Exercised (22 ) 14.02 - 17.89 15.54 644 3.43 Forfeited - - - - - At June 30, 2017 Vested and exercisable 544 14.02 - 25.76 16.34 12,261 3.15 4.3 Unvested 215 15.24 - 40.00 26.45 2,729 4.17 8.2 Total outstanding 759 14.02 - 40.00 19.17 $ 14,990 3.44 5.4 Vested year-to-date 92 $15.24 - 25.76 $ 19.34 $ 1,795 $ 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 2016 activity: 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 2017 activity: Shares awarded 28,625 44.85 Restrictions lapsed and shares released (46,220 ) 19.76 Shares forfeited (4,374 ) 24.10 Unvested at June 30, 2017 123,266 $ 27.57 |
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 16 - Assets and Liabilit40
Note 16 - Assets and Liabilities Measured and Reported at Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | (in thousands) Fair value at June 30, 2017 Assets Total Level 1 Level 2 Level 3 Investment securities available-for-sale Government sponsored enterprise obligations $ 366,678 $ - $ 366,678 $ - Mortgage-backed securities - government agencies 154,874 - 154,874 - Obligations of states and political subdivisions 54,036 - 54,036 - Corporate equity securities 703 703 - - Total investment securities available-for-sale 576,291 703 575,588 - Interest rate swaps 13 - 13 - Total assets $ 576,304 $ 703 $ 575,601 $ - Liabilities Interest rate swaps $ 45 $ - $ 45 $ - (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 June 30, 2017 Losses for 6 month period ended Total Level 1 Level 2 Level 3 June 30, 2017 Impaired loans $ 1,666 $ - $ - $ 1,666 $ (307 ) Other real estate owned 2,640 - - 2,640 (171 ) Total $ 4,306 $ - $ - $ 4,306 $ (478 ) (in thousands) Fair value at December 31, 2016 Losses for 6 month period ended Total Level 1 Level 2 Level 3 June 30, 2016 Impaired loans $ 1,393 $ - $ - $ 1,393 $ (173 ) Other real estate owned 4,488 - - 4,488 - Total $ 5,881 $ - $ - $ 5,881 $ (173 ) |
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 $ 1,666 Appraisal Appraisal discounts 5.2 % Other real estate owned 2,640 Appraisal Appraisal discounts 23.4 |
Note 17 - Disclosure of Finan41
Note 17 - Disclosure of Financial Instruments Not Reported at Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (in thousands) Carrying June 30, 2017 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 125,125 $ 125,125 $ 125,125 $ - $ - Mortgage loans held for sale 3,055 3,121 - 3,121 - Federal Home Loan Bank stock and other securities 7,666 7,666 - 7,666 - Loans, net 2,284,553 2,290,556 - - 2,290,556 Accrued interest receivable 6,865 6,865 6,865 - - Financial liabilities Deposits 2,478,546 2,477,385 - - 2,477,385 Short-term borrowings 226,487 226,487 - 226,487 - FHLB advances 50,433 50,531 - 50,531 - Accrued interest payable 187 187 187 - - (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 18 - Derivative Financia42
Note 18 - Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2017 December 31, 2016 $ 10,000 12/6/2021 US 3 Month LIBOR 1.89 % $ (21 ) $ 16 20,000 12/6/2020 US 3 Month LIBOR 1.79 % (11 ) 9 $ 30,000 1.82 % $ (32 ) $ 25 |
Not Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | (dollar amounts in thousands) Receiving Paying June 30, December 31, June 30, December 31, 2017 2016 2017 2016 Notional amount $ 47,000 $ 43,986 $ 47,000 $ 43,986 Weighted average maturity (years) 9.7 9.9 9.7 9.9 Fair value $ - $ (178 ) $ (13 ) $ 178 |
Note 19 - Regulatory Matters (T
Note 19 - Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2017 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 351,241 13.49 % $ 208,297 8.00 % NA NA Bank 338,984 13.06 207,647 8.00 $ 259,559 10.00 Common equity tier 1 risk-based capital Consolidated 325,753 12.51 117,177 4.50 NA NA Bank 313,496 12.08 116,782 4.50 155,710 6.00 Tier 1 risk-based capital (1) Consolidated 325,753 12.51 156,236 6.00 NA NA Bank 313,496 12.08 155,710 6.00 155,710 6.00 Leverage (2) Consolidated 325,753 10.88 119,762 4.00 NA NA Bank 313,496 10.48 119,655 4.00 149,569 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 20 - Segments (Tables)
Note 20 - Segments (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2017 Net interest income $ 25,152 $ 80 $ 25,232 Provision for loan losses 600 - 600 Wealth management and trust services - 5,153 5,153 All other non-interest income 6,522 - 6,522 Non-interest expense 18,164 3,182 21,346 Income before income taxes 12,910 2,051 14,961 Income tax expense 3,626 733 4,359 Net income $ 9,284 $ 1,318 $ 10,602 Segment assets $ 3,124,522 $ 2,240 $ 3,126,762 Three months ended June 30, 2016 Net interest income $ 23,888 $ 62 $ 23,950 Provision for loan losses 750 - 750 Wealth management and trust services - 4,807 4,807 All other non-interest income 5,971 - 5,971 Non-interest expense 17,297 2,896 20,193 Income before income taxes 11,812 1,973 13,785 Income tax expense 2,971 705 3,676 Net income $ 8,841 $ 1,268 $ 10,109 Segment assets $ 2,907,393 $ 2,126 $ 2,909,519 Wealth Commercial management (in thousands) banking and trust Total Six months ended June 30, 2017 Net interest income $ 50,259 $ 157 $ 50,416 Provision for loan losses 1,500 - 1,500 Wealth management and trust services - 10,247 10,247 All other non-interest income 12,225 - 12,225 Non-interest expense 36,265 6,229 42,494 Income before income taxes 24,719 4,175 28,894 Income tax expense 6,010 1,491 7,501 Net income $ 18,709 $ 2,684 $ 21,393 Segment assets $ 3,124,522 $ 2,240 $ 3,126,762 Six months ended June 30, 2016 Net interest income $ 47,295 $ 124 $ 47,419 Provision for loan losses 1,250 - 1,250 Wealth management and trust services - 9,419 9,419 All other non-interest income 11,441 - 11,441 Non-interest expense 34,192 5,541 39,733 Income before income taxes 23,294 4,002 27,296 Income tax expense 5,922 1,430 7,352 Net income $ 17,372 $ 2,572 $ 19,944 Segment assets $ 2,907,393 $ 2,126 $ 2,909,519 |
Note 1 - Summary of Significa45
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 6 Months Ended |
Jun. 30, 2017 | |
Period Look-back, Quarters | 24 |
Period Look-back, Extended, Quarters | 28 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) xbrli-pure in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($) | Jun. 30, 2016 | Jun. 30, 2017USD ($) | Jun. 30, 2016 | Dec. 31, 2016USD ($) | |
Available-for-sale Securities Pledged as Collateral | $ 314,200 | $ 314,200 | $ 380,400 | ||
Held-to-maturity Securities | $ 0 | $ 0 | $ 0 | ||
Number of Securities Sold | 0 | 0 | 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 | Jun. 30, 2017 | Dec. 31, 2016 |
Securities available-for-sale, unrealized gains | $ 2,258 | $ 2,264 |
Securities available-for-sale, unrealized losses | 2,743 | 4,126 |
Securities available-for-sale, fair value | 576,291 | 570,074 |
Securities available-for-sale, amortized cost | 576,776 | 571,936 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale, unrealized gains | 789 | 800 |
Securities available-for-sale, unrealized losses | 873 | 1,494 |
Securities available-for-sale, fair value | 366,678 | 268,090 |
Securities available-for-sale, amortized cost | 366,762 | 268,784 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale, unrealized gains | 709 | 735 |
Securities available-for-sale, unrealized losses | 1,768 | 2,236 |
Securities available-for-sale, fair value | 154,874 | 168,843 |
Securities available-for-sale, amortized cost | 155,933 | 170,344 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, unrealized gains | 710 | 682 |
Securities available-for-sale, unrealized losses | 102 | 396 |
Securities available-for-sale, fair value | 54,036 | 57,444 |
Securities available-for-sale, amortized cost | 53,428 | 57,158 |
Common Stock [Member] | ||
Securities available-for-sale, unrealized gains | 50 | 46 |
Securities available-for-sale, unrealized losses | ||
Securities available-for-sale, fair value | 703 | 699 |
Securities available-for-sale, amortized cost | $ 653 | 653 |
US Treasury Securities [Member] | ||
Securities available-for-sale, unrealized gains | 1 | |
Securities available-for-sale, unrealized losses | ||
Securities available-for-sale, fair value | 74,998 | |
Securities available-for-sale, amortized cost | $ 74,997 |
Note 2 - Securities - Availab48
Note 2 - Securities - Available-for-sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Due within 1 year, amortized cost | $ 222,639 | |
Due within 1 year, fair value | 222,690 | |
Due after 1 but within 5 years, amortized cost | 80,328 | |
Due after 1 but within 5 years, fair value | 80,586 | |
Due after 5 but within 10 years, amortized cost | 15,689 | |
Due after 5 but within 10 years, fair value | 15,626 | |
Due after 10 years, amortized cost | 101,534 | |
Due after 10 years, fair value | 101,812 | |
Mortgage-backed securities – government agencies, amortized cost | 155,933 | |
Mortgage-backed securities – government agencies, fair value | 154,874 | |
Corporate equity securities, amortized cost | 653 | |
Corporate equity securities, fair value | 703 | |
Total securities available-for-sale, amortized cost | 576,776 | $ 571,936 |
Total securities available-for-sale, fair value | $ 576,291 | $ 570,074 |
Note 2 - Securities - Securitie
Note 2 - Securities - Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Securities available-for-sale, 12 months or more, fair value | $ 50,624 | $ 14,877 |
Securities available-for-sale, 12 months or more, unrealized losses | 629 | 529 |
Securities available-for-sale, fair value | 336,236 | 315,095 |
Securities available-for-sale, unrealized losses | 2,743 | 4,126 |
Securities available-for-sale, less than 12 months, fair value | 285,612 | 300,218 |
Securities available-for-sale, less than 12 months, unrealized losses | 2,114 | 3,597 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale, 12 months or more, fair value | 37,819 | 3,485 |
Securities available-for-sale, 12 months or more, unrealized losses | 210 | 150 |
Securities available-for-sale, fair value | 223,322 | 158,436 |
Securities available-for-sale, unrealized losses | 873 | 1,494 |
Securities available-for-sale, less than 12 months, fair value | 185,503 | 154,951 |
Securities available-for-sale, less than 12 months, unrealized losses | 663 | 1,344 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale, 12 months or more, fair value | 9,952 | 9,914 |
Securities available-for-sale, 12 months or more, unrealized losses | 385 | 363 |
Securities available-for-sale, fair value | 97,113 | 125,288 |
Securities available-for-sale, unrealized losses | 1,768 | 2,236 |
Securities available-for-sale, less than 12 months, fair value | 87,161 | 115,374 |
Securities available-for-sale, less than 12 months, unrealized losses | 1,383 | 1,873 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, 12 months or more, fair value | 2,853 | 1,478 |
Securities available-for-sale, 12 months or more, unrealized losses | 34 | 16 |
Securities available-for-sale, fair value | 15,801 | 31,371 |
Securities available-for-sale, unrealized losses | 102 | 396 |
Securities available-for-sale, less than 12 months, fair value | 12,948 | 29,893 |
Securities available-for-sale, less than 12 months, unrealized losses | $ 68 | $ 380 |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 231,000 | $ 231,000 | $ 438,000 | ||
Financing Receivable, Modifications, Recorded Investment | 963,000 | $ 1,000,000 | 963,000 | $ 1,000,000 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 75,000 | $ 75,000 | |||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |||
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 171,000 | $ 171,000 | 207,000 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | $ 0 | ||
Mortgage Loans in Process of Foreclosure, Number | 2 | 2 | |||
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 39,000 | ||||
Financing Receivable, Modifications, Recorded Investment | $ 37,000 | $ 37,000 | |||
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 | Jun. 30, 2017 | Dec. 31, 2016 |
Loans | $ 2,309,668 | $ 2,305,375 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans | 749,036 | 736,841 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans | 175,627 | 192,348 |
Undevelopment Land Portfolio Segment [Member] | ||
Loans | 20,992 | 21,496 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Loans | 1,329,597 | 1,319,520 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans | 547,196 | 538,886 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans | 408,558 | 408,292 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 255,939 | 249,498 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans | 52,560 | 55,325 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans | 65,344 | 67,519 |
Consumer Portfolio Segment [Member] | ||
Loans | $ 34,416 | $ 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 | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | |
Loans collectively evaluated for impairment | $ 2,303,188 | $ 2,298,482 | |||||
Loans individually evaluated for impairment | 5,876 | 6,269 | |||||
Allowance for loans acquired with deteriorated credit quality | $ 25,115 | $ 25,115 | $ 22,441 | $ 24,007 | 25,115 | 24,007 | |
Loans | 2,309,668 | 2,305,375 | |||||
Balance | 24,007 | 22,441 | 22,441 | ||||
Provision for loan losses | 600 | $ 750 | 1,500 | 1,250 | 3,000 | ||
Charge-offs | (773) | (2,493) | |||||
Recoveries | 381 | 1,059 | |||||
Balance | 25,115 | 25,115 | 24,007 | ||||
Allowance for loans collectively evaluated for impairment | 24,130 | 22,740 | |||||
Allowance for loans individually evaluated for impairment | 985 | 1,267 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for loans acquired with deteriorated credit quality | |||||||
Loans | 604 | 624 | |||||
Balance | |||||||
Balance | |||||||
Commercial and Industrial Portfolio Segment [Member] | |||||||
Loans collectively evaluated for impairment | 746,390 | 734,139 | |||||
Loans individually evaluated for impairment | 2,624 | 2,682 | |||||
Allowance for loans acquired with deteriorated credit quality | 11,844 | 10,483 | 8,645 | 10,483 | 11,844 | 10,483 | |
Loans | 749,036 | 736,841 | |||||
Balance | 10,483 | 8,645 | 8,645 | ||||
Provision for loan losses | 1,723 | 2,775 | |||||
Charge-offs | (482) | (1,216) | |||||
Recoveries | 120 | 279 | |||||
Balance | 11,844 | 11,844 | 10,483 | ||||
Allowance for loans collectively evaluated for impairment | 10,916 | 9,276 | |||||
Allowance for loans individually evaluated for impairment | 928 | 1,207 | |||||
Commercial and Industrial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for loans acquired with deteriorated credit quality | |||||||
Loans | 22 | 20 | |||||
Balance | |||||||
Balance | |||||||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||||||
Loans collectively evaluated for impairment | 175,215 | 191,810 | |||||
Loans individually evaluated for impairment | 412 | 538 | |||||
Allowance for loans acquired with deteriorated credit quality | 1,813 | 1,923 | 1,760 | 1,923 | 1,813 | 1,923 | |
Loans | 175,627 | 192,348 | |||||
Balance | 1,923 | 1,760 | 1,760 | ||||
Provision for loan losses | (110) | 275 | |||||
Charge-offs | (133) | ||||||
Recoveries | 21 | ||||||
Balance | 1,813 | 1,813 | 1,923 | ||||
Allowance for loans collectively evaluated for impairment | 1,813 | 1,923 | |||||
Allowance for loans individually evaluated for impairment | |||||||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for loans acquired with deteriorated credit quality | |||||||
Loans | |||||||
Balance | |||||||
Balance | |||||||
Undevelopment Land Portfolio Segment [Member] | |||||||
Loans collectively evaluated for impairment | 20,519 | 21,022 | |||||
Loans individually evaluated for impairment | 473 | 474 | |||||
Allowance for loans acquired with deteriorated credit quality | 602 | 684 | 814 | 684 | 602 | 684 | |
Loans | 20,992 | 21,496 | |||||
Balance | 684 | 814 | 814 | ||||
Provision for loan losses | (82) | (130) | |||||
Charge-offs | |||||||
Recoveries | |||||||
Balance | 602 | 602 | 684 | ||||
Allowance for loans collectively evaluated for impairment | 602 | 683 | |||||
Allowance for loans individually evaluated for impairment | 1 | ||||||
Undevelopment Land Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for loans acquired with deteriorated credit quality | |||||||
Loans | |||||||
Balance | |||||||
Balance | |||||||
Real Estate Mortgage Portfolio Segment [Member] | |||||||
Loans collectively evaluated for impairment | 1,326,705 | 1,316,400 | |||||
Loans individually evaluated for impairment | 2,310 | 2,516 | |||||
Allowance for loans acquired with deteriorated credit quality | 10,474 | 10,573 | 10,875 | 10,573 | 10,474 | 10,573 | |
Loans | 1,329,597 | 1,319,520 | |||||
Balance | 10,573 | 10,875 | 10,875 | ||||
Provision for loan losses | (129) | (68) | |||||
Charge-offs | (34) | (576) | |||||
Recoveries | 64 | 342 | |||||
Balance | 10,474 | 10,474 | 10,573 | ||||
Allowance for loans collectively evaluated for impairment | 10,474 | 10,573 | |||||
Allowance for loans individually evaluated for impairment | |||||||
Real Estate Mortgage Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for loans acquired with deteriorated credit quality | |||||||
Loans | 582 | 604 | |||||
Balance | |||||||
Balance | |||||||
Consumer Portfolio Segment [Member] | |||||||
Loans collectively evaluated for impairment | 34,359 | 35,111 | |||||
Loans individually evaluated for impairment | 57 | 59 | |||||
Allowance for loans acquired with deteriorated credit quality | 382 | 344 | 347 | 344 | 382 | 344 | |
Loans | 34,416 | 35,170 | |||||
Balance | 344 | $ 347 | 347 | ||||
Provision for loan losses | 98 | 148 | |||||
Charge-offs | (257) | (568) | |||||
Recoveries | 197 | 417 | |||||
Balance | 382 | 382 | 344 | ||||
Allowance for loans collectively evaluated for impairment | 325 | 285 | |||||
Allowance for loans individually evaluated for impairment | 57 | 59 | |||||
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for loans acquired with deteriorated credit quality | |||||||
Loans | |||||||
Balance | |||||||
Balance |
Note 3 - Loans - Acquired Impai
Note 3 - Loans - Acquired Impaired Loans (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Accretable discount | $ 3 | |
Accretion | (3) | |
Accretable discount | ||
Non- accretable discount | 148 | 189 |
Non- accretable discount, accretion | (41) | |
Non- accretable discount | $ 148 | $ 148 |
Note 3 - Loans - Loans Individu
Note 3 - Loans - Loans Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Average recorded investment | $ 6,077 | $ 7,563 |
Recorded investment | 5,876 | 6,269 |
Unpaid principal balance | 6,741 | 7,527 |
Loans with no related allowance recorded, recorded investment | 3,235 | 3,609 |
Loans with no related allowance recorded, unpaid principal balance | 3,517 | 4,392 |
Loans with no related allowance recorded, average recorded investment | 3,410 | 4,996 |
Loans with an allowance recorded, recorded investment | 2,641 | 2,660 |
Loans with an allowance recorded, unpaid principal balance | 3,224 | 3,135 |
Related allowance | 985 | 1,267 |
Loans with an allowance recorded, average recorded investment | 2,667 | 2,567 |
Commercial and Industrial Portfolio Segment [Member] | ||
Average recorded investment | 2,716 | 3,566 |
Recorded investment | 2,624 | 2,682 |
Unpaid principal balance | 3,207 | 3,300 |
Loans with no related allowance recorded, recorded investment | 40 | 322 |
Loans with no related allowance recorded, unpaid principal balance | 40 | 465 |
Loans with no related allowance recorded, average recorded investment | 187 | 1,947 |
Loans with an allowance recorded, recorded investment | 2,584 | 2,360 |
Loans with an allowance recorded, unpaid principal balance | 3,167 | 2,835 |
Related allowance | 928 | 1,207 |
Loans with an allowance recorded, average recorded investment | 2,529 | 1,619 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Average recorded investment | 465 | 290 |
Recorded investment | 412 | 538 |
Unpaid principal balance | 412 | 708 |
Loans with no related allowance recorded, recorded investment | 412 | 538 |
Loans with no related allowance recorded, unpaid principal balance | 412 | 708 |
Loans with no related allowance recorded, average recorded investment | 465 | 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 | |
Undevelopment Land Portfolio Segment [Member] | ||
Average recorded investment | 473 | 225 |
Recorded investment | 473 | 474 |
Unpaid principal balance | 473 | 506 |
Loans with no related allowance recorded, recorded investment | 473 | 233 |
Loans with no related allowance recorded, unpaid principal balance | 473 | 265 |
Loans with no related allowance recorded, average recorded investment | 393 | 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 | 80 | 149 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Average recorded investment | 2,365 | 3,401 |
Recorded investment | 2,310 | 2,516 |
Unpaid principal balance | 2,592 | 2,954 |
Loans with no related allowance recorded, recorded investment | 2,310 | 2,516 |
Loans with no related allowance recorded, unpaid principal balance | 2,592 | 2,954 |
Loans with no related allowance recorded, average recorded investment | 2,365 | 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 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Average recorded investment | 147 | 193 |
Recorded investment | 165 | 107 |
Unpaid principal balance | 171 | 107 |
Loans with no related allowance recorded, recorded investment | 165 | 107 |
Loans with no related allowance recorded, unpaid principal balance | 171 | 107 |
Loans with no related allowance recorded, average recorded investment | 147 | 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 | ||
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Average recorded investment | 1,196 | 1,910 |
Recorded investment | 1,309 | 1,042 |
Unpaid principal balance | 1,501 | 1,479 |
Loans with no related allowance recorded, recorded investment | 1,309 | 1,042 |
Loans with no related allowance recorded, unpaid principal balance | 1,501 | 1,479 |
Loans with no related allowance recorded, average recorded investment | 1,196 | 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 | |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Average recorded investment | 750 | 962 |
Recorded investment | 667 | 895 |
Unpaid principal balance | 740 | 896 |
Loans with no related allowance recorded, recorded investment | 667 | 895 |
Loans with no related allowance recorded, unpaid principal balance | 740 | 896 |
Loans with no related allowance recorded, average recorded investment | 750 | 962 |
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 | ||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Average recorded investment | 3 | |
Recorded investment | ||
Unpaid principal balance | ||
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 | ||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Average recorded investment | 272 | 333 |
Recorded investment | 169 | 472 |
Unpaid principal balance | 180 | 472 |
Loans with no related allowance recorded, recorded investment | 169 | 472 |
Loans with no related allowance recorded, unpaid principal balance | 180 | 472 |
Loans with no related allowance recorded, average recorded investment | 272 | 333 |
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 | ||
Consumer Portfolio Segment [Member] | ||
Average recorded investment | 58 | 81 |
Recorded investment | 57 | 59 |
Unpaid principal balance | 57 | 59 |
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 | 57 | 59 |
Loans with an allowance recorded, unpaid principal balance | 57 | 59 |
Related allowance | 57 | 59 |
Loans with an allowance recorded, average recorded investment | $ 58 | $ 63 |
Note 3 - Loans - Non-accrual Lo
Note 3 - Loans - Non-accrual Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Non-accrual loans | $ 4,913 | $ 5,295 |
Commercial and Industrial Portfolio Segment [Member] | ||
Non-accrual loans | 1,718 | 1,767 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Non-accrual loans | 412 | 538 |
Undevelopment Land Portfolio Segment [Member] | ||
Non-accrual loans | 473 | 474 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Non-accrual loans | 2,310 | 2,516 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Non-accrual loans | 165 | 107 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Non-accrual loans | 1,309 | 1,042 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Non-accrual loans | 667 | 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 | 169 | 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 ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Current | $ 2,302,043,000 | $ 2,295,871,000 |
Past due | 7,625,000 | 9,504,000 |
Loans | 2,309,668,000 | 2,305,375,000 |
Recorded investment greater than 90 days and accruing | 231,000 | 438,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due | 1,566,000 | 2,589,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 915,000 | 1,182,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 5,144,000 | 5,733,000 |
Commercial and Industrial Portfolio Segment [Member] | ||
Current | 746,564,000 | 734,682,000 |
Past due | 2,472,000 | 2,159,000 |
Loans | 749,036,000 | 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 | 95,000 | 84,000 |
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 659,000 | 290,000 |
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 1,718,000 | 1,785,000 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Current | 175,215,000 | 191,810,000 |
Past due | 412,000 | 538,000 |
Loans | 175,627,000 | 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 | ||
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 | 412,000 | 538,000 |
Undevelopment Land Portfolio Segment [Member] | ||
Current | 20,519,000 | 21,022,000 |
Past due | 473,000 | 474,000 |
Loans | 20,992,000 | 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 | 473,000 | 474,000 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Current | 1,325,355,000 | 1,313,392,000 |
Past due | 4,242,000 | 6,128,000 |
Loans | 1,329,597,000 | 1,319,520,000 |
Recorded investment greater than 90 days and accruing | 231,000 | 420,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Current | 546,775,000 | 537,998,000 |
Past due | 421,000 | 888,000 |
Loans | 547,196,000 | 538,886,000 |
Recorded investment greater than 90 days and accruing | 86,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Current | 407,065,000 | 406,726,000 |
Past due | 1,493,000 | 1,566,000 |
Loans | 408,558,000 | 408,292,000 |
Recorded investment greater than 90 days and accruing | 59,000 | 182,000 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Current | 254,068,000 | 246,730,000 |
Past due | 1,871,000 | 2,768,000 |
Loans | 255,939,000 | 249,498,000 |
Recorded investment greater than 90 days and accruing | 172,000 | 34,000 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Current | 52,517,000 | 55,027,000 |
Past due | 43,000 | 298,000 |
Loans | 52,560,000 | 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 | 64,930,000 | 66,911,000 |
Past due | 414,000 | 608,000 |
Loans | 65,344,000 | 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 | 1,446,000 | 2,477,000 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Investment [Member] | ||
Past due | 178,000 | 631,000 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Past due | 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 | 1,026,000 | 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 | 21,000 | 231,000 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity Junior Lien [Member] | ||
Past due | 221,000 | 99,000 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 255,000 | 787,000 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Investment [Member] | ||
Past due | 78,000 | 64,000 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Past due | 125,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family Residential [Member] | ||
Past due | 6,000 | 576,000 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity First Lien [Member] | ||
Past due | 22,000 | 21,000 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity Junior Lien [Member] | ||
Past due | 24,000 | 126,000 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due | 2,541,000 | 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 | 165,000 | 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 | 1,368,000 | 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 | 839,000 | 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 | 169,000 | 383,000 |
Consumer Portfolio Segment [Member] | ||
Current | 34,390,000 | 34,965,000 |
Past due | 26,000 | 205,000 |
Loans | 34,416,000 | 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 | 25,000 | 28,000 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due | 1,000 | 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 | Jun. 30, 2017 | Dec. 31, 2016 |
Loans | $ 2,309,668 | $ 2,305,375 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans | 749,036 | 736,841 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans | 175,627 | 192,348 |
Undevelopment Land Portfolio Segment [Member] | ||
Loans | 20,992 | 21,496 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Loans | 1,329,597 | 1,319,520 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans | 547,196 | 538,886 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans | 408,558 | 408,292 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 255,939 | 249,498 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans | 52,560 | 55,325 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans | 65,344 | 67,519 |
Consumer Portfolio Segment [Member] | ||
Loans | 34,416 | 35,170 |
Pass [Member] | ||
Loans | 2,259,081 | 2,267,103 |
Pass [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans | 716,183 | 714,025 |
Pass [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans | 174,890 | 191,455 |
Pass [Member] | Undevelopment Land Portfolio Segment [Member] | ||
Loans | 20,489 | 21,022 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | ||
Loans | 1,313,282 | 1,305,562 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans | 545,429 | 538,688 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans | 397,218 | 396,997 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 253,227 | 247,888 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans | 52,560 | 55,279 |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans | 64,848 | 66,710 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 34,237 | 35,039 |
Special Mention [Member] | ||
Loans | 24,887 | 22,226 |
Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans | 15,290 | 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 | 9,493 | 7,960 |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans | 1,581 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans | 6,891 | 7,960 |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans | 1,012 | |
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 | 9 | |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 104 | |
Substandard [Member] | Performing Financial Instruments [Member] | ||
Loans | 19,593 | 9,339 |
Substandard [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 6,107 | 6,707 |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 14,939 | 5,850 |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 2,624 | 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 | 412 | 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 | 473 | 474 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 4,281 | 3,134 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Commercial Investment [Member] | ||
Loans | 21 | 5 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Loans | 3,081 | 2,111 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | One to Four Family Residential [Member] | ||
Loans | 861 | 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 | 318 | 426 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 2,541 | 2,864 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Commercial Investment [Member] | ||
Loans | 165 | 193 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Loans | 1,368 | 1,224 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | One to Four Family Residential [Member] | ||
Loans | 839 | 1,018 |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity First Lien [Member] | ||
Loans | 46 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity Junior Lien [Member] | ||
Loans | 169 | 383 |
Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 18 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 57 | 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 - Goodwill and Intangi58
Note 4 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2013 |
Loans Serviced for Others Outstanding Principal Balance | $ 356,400 | $ 372,200 | |
Finite-lived Intangible Assets, Fair Value Disclosure | 2,700 | $ 2,700 | |
Core Deposits [Member] | |||
Finite-Lived Intangible Assets, Net | 1,300 | ||
Indiana Bank [Member] | Commercial Banking [Member] | |||
Goodwill | $ 682 | ||
THE BANCorp [Member] | Core Deposits [Member] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,500 |
Note 4 - Goodwill and Intangi59
Note 4 - Goodwill and Intangible Assets - Mortgage Servicing Rights (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Balance at beginning of period | $ 921 | $ 1,018 |
Additions for mortgage loans sold | 93 | 70 |
Amortization | (145) | (118) |
Balance at end of period | $ 869 | $ 970 |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 239 | $ 196 | $ 470 | $ 376 |
Accounting Standards Update 2016-09 [Member] | ||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 99 | $ 1,100 |
Note 5 - Income Taxes - Compone
Note 5 - Income Taxes - Components of Income Tax Expense (Benefit) from Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Federal | $ 4,722 | $ 4,222 | $ 7,725 | $ 6,595 |
State | 179 | 186 | 293 | 310 |
Total current income tax expense | 4,901 | 4,408 | 8,018 | 6,905 |
Federal | (631) | (711) | (657) | 390 |
State | (24) | (21) | 14 | 57 |
Total deferred income tax expense (benefit) | (655) | (732) | (643) | 447 |
Change in valuation allowance | 113 | 126 | ||
Total income tax expense | $ 4,359 | $ 3,676 | $ 7,501 | $ 7,352 |
Note 5 - Income Taxes - Differe
Note 5 - Income Taxes - Difference Between Statutory and Effective Tax Rates (Details) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
U.S. federal statutory income tax rate | 35.00% | 35.00% |
Tax credits | (5.30%) | (9.50%) |
Excess tax benefits from share-based compensation arrangements | (3.80%) | |
Increase in cash surrender value of life insurance | (1.60%) | (0.90%) |
Tax exempt interest income | (1.10%) | (1.30%) |
State income taxes, net of federal benefit | 0.70% | 0.90% |
Other, net | 2.10% | 2.70% |
Effective income tax rate | 26.00% | 26.90% |
Note 6 - Deposits - Composition
Note 6 - Deposits - Composition of Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Non-interest bearing | $ 696,085 | $ 680,156 |
Interest bearing demand | 717,893 | 768,139 |
Savings | 151,811 | 140,030 |
Money market | 677,482 | 682,421 |
Time deposits of more than $250,000 | 35,242 | 40,427 |
Other time deposits | 200,033 | 209,375 |
Total time deposits | 235,275 | 249,802 |
Total interest bearing deposits | 1,782,461 | 1,840,392 |
Total deposits | $ 2,478,546 | $ 2,520,548 |
Note 6 - Deposits - Maturities
Note 6 - Deposits - Maturities of Time Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
3 months or less | $ 9,463 | |
Over 3 through 6 months | 8,736 | |
Over 6 through 12 months | 5,982 | |
Over 1 through 3 years | 7,534 | |
Over 3 years | 3,527 | |
Total | $ 35,242 | $ 40,427 |
Note 7 - Securities Sold Unde65
Note 7 - Securities Sold Under Agreements to Repurchase (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Securities Sold under Agreements to Repurchase | $ 65,024 | $ 67,595 |
Note 8 - Federal Home Loan Ba66
Note 8 - Federal Home Loan Bank Advances (Details Textual) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) | |
Advances from Federal Home Loan Banks | $ 50,433 | $ 51,075 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 150,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 316,800 | |
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 | $ 20,400 |
Note 8 - Federal Home Loan Ba67
Note 8 - Federal Home Loan Bank Advances - Contractual Maturities and Average Effective Rates of Outstanding Advances (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Advance, 2017 | $ 30,000 | $ 30,000 |
Fixed rate, 2017 | 1.18% | 0.70% |
Advance, 2020 | $ 1,765 | |
Fixed rate, 2020 | 2.23% | |
Advance, 2020 | $ 1,790 | |
Fixed rate, 2020 | 2.23% | |
Advance, 2021 | $ 324 | |
Fixed rate, 2021 | 2.12% | |
Advance, 2021 | $ 359 | |
Fixed rate, 2021 | 2.12% | |
Advance, 2024 | $ 2,558 | |
Fixed rate, 2024 | 2.36% | |
Advance, 2024 | $ 2,661 | |
Fixed rate, 2024 | 2.36% | |
Advance, 2025 | $ 5,752 | |
Fixed rate, 2025 | 2.43% | |
Fixed rate, 2025 | 1.99% | 2.43% |
Advance, 2025 | $ 8,751 | $ 6,025 |
Advance, 2026 | $ 8,936 | |
Fixed rate, 2026 | 1.99% | |
Advance, 2028 | $ 1,283 | |
Fixed rate, 2028 | 1.48% | |
Advance, 2028 | $ 1,304 | |
Fixed rate, 2028 | 1.48% | |
Advance | $ 50,433 | $ 51,075 |
Weighted Average [Member] | ||
Fixed rate | 1.57% | 1.30% |
Note 9 - Other Comprehensive 68
Note 9 - Other Comprehensive Income - Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Balance at December 31, 2015 | $ 313,872 | $ 286,519 | ||
Net current period other comprehensive gain (loss) | $ 116 | $ 1,504 | 890 | 4,818 |
Balance at June 30, 2016 | 326,500 | 305,051 | 326,500 | 305,051 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Balance at December 31, 2015 | (1,211) | 965 | ||
Net current period other comprehensive gain (loss) | 895 | 5,256 | ||
Balance at June 30, 2016 | (316) | 6,221 | (316) | 6,221 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
Balance at December 31, 2015 | (16) | (60) | ||
Net current period other comprehensive gain (loss) | (5) | (438) | ||
Balance at June 30, 2016 | (21) | (498) | (21) | (498) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Balance at December 31, 2015 | (272) | (273) | ||
Net current period other comprehensive gain (loss) | ||||
Balance at June 30, 2016 | (272) | (273) | (272) | (273) |
AOCI Attributable to Parent [Member] | ||||
Balance at December 31, 2015 | (1,499) | 632 | ||
Net current period other comprehensive gain (loss) | 890 | 4,818 | ||
Balance at June 30, 2016 | $ (609) | $ 5,450 | $ (609) | $ 5,450 |
Note 10 - Preferred Stock (Deta
Note 10 - Preferred Stock (Details Textual) - $ / shares $ / shares in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Preferred Stock, No Par Value | $ 0 | $ 0 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Note 11 - Net Income Per Shar70
Note 11 - Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net income | $ 10,602 | $ 10,109 | $ 21,393 | $ 19,944 |
Basic (in shares) | 22,783 | 22,336 | 22,788 | 22,295 |
Dilutive securities (in shares) | 458 | 368 | 483 | 363 |
Average shares outstanding including dilutive securities including dilutive securities (in shares) | 23,241 | 22,704 | 23,271 | 22,658 |
Basic (in dollars per share) | $ 0.47 | $ 0.45 | $ 0.94 | $ 0.89 |
Diluted (in dollars per share) | $ 0.46 | $ 0.45 | $ 0.92 | $ 0.88 |
Note 12 - Defined Benefit Ret71
Note 12 - Defined Benefit Retirement Plan (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | |
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 | 3 | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ 34 | $ 34 | $ 69 | $ 67 |
Note 13 - Stock-based Compens72
Note 13 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jan. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Plans | 1 | 1 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 277,216 | 277,216 | ||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 239 | $ 196 | $ 470 | $ 376 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expected Additional Compensation Cost Remainder of Year | 1,400 | 1,400 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 5,600 | $ 5,600 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 5 years | |||||||
Proceeds (Used for) and Received from Settlement of Stock Awards | $ (216) | $ 1,045 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares, No Intrinsic Value | 46,410 | 46,410 | ||||||
Accounting Standards Update 2016-09 [Member] | ||||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 99 | $ 1,100 | ||||||
Employee Stock Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||
Stock Appreciation Rights (SARs) [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 | |||||||
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] | ||||||||
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% | 5.12% | 4.50% | 4.80% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 50,022 | |||||||
Restricted Stock Units (RSUs) [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | |||||||
Restricted Stock Units (RSUs) [Member] | Director [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Fair Value Granted | $ 220 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 4,680 |
Note 13 - Stock-based Compens73
Note 13 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Stock-based compensation expense before income taxes | $ 682 | $ 560 | $ 1,342 | $ 1,073 |
Less: deferred tax benefit | (239) | (196) | (470) | (376) |
Reduction of net income | $ 443 | $ 364 | $ 872 | $ 697 |
Note 13 - Stock-based Compens74
Note 13 - Stock-based Compensation - Fair Value Assumptions (Details) - Stock Options and Stock Appreciation Rights SARs [Member] | 6 Months Ended | 12 Months Ended |
Jun. 30, 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 (in years) (Year) | 7 years | 7 years 109 days |
Note 13 - Stock-based Compens75
Note 13 - Stock-based Compensation - Stock Option and SARs Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Award Vested and Exercisable [Member] | |||
Options and SARs (in shares) | (544) | (475) | (656) |
Options and SARs (in shares) | 544 | 475 | 656 |
Exercise price (in dollars per share) | $ 16.34 | $ 15.72 | $ 15.75 |
Aggregate intrinsic value | $ 12,261 | $ 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 109 days | 4 years 109 days | 3 years 255 days |
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) | (215) | (260) | (266) |
Options and SARs (in shares) | 215 | 260 | 266 |
Exercise price (in dollars per share) | $ 26.45 | $ 21.53 | $ 18.66 |
Aggregate intrinsic value | $ 2,729 | $ 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 73 days | 7 years 292 days | 7 years 255 days |
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) | (759) | (735) | (922) |
Options and SARs (in shares) | 759 | 735 | 922 |
Exercise price (in dollars per share) | $ 19.17 | $ 17.78 | $ 16.59 |
Aggregate intrinsic value | $ 14,990 | $ 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 146 days | 5 years 182 days | 4 years 292 days |
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) | |
Options and SARs (in shares) | 46 | 88 | |
Exercise price (in dollars per share) | $ 40 | $ 25.84 | |
Aggregate intrinsic value | $ 1,866 | ||
Weighted average fair value (in dollars per share) | $ 6.34 | $ 3.56 | |
Weighted average remaining contractual life (Year) | |||
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) | (22) | (272) | |
Options and SARs (in shares) | 22 | 272 | |
Exercise price (in dollars per share) | $ 15.54 | $ 16.38 | |
Aggregate intrinsic value | $ 644 | $ 4,155 | |
Weighted average fair value (in dollars per share) | $ 3.43 | $ 3.73 | |
Weighted average remaining contractual life (Year) | |||
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) | ||
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) | |||
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) | (92) | ||
Options and SARs (in shares) | 92 | ||
Exercise price (in dollars per share) | $ 19.34 | ||
Aggregate intrinsic value | $ 1,795 | ||
Weighted average fair value (in dollars per share) | $ 3.18 | ||
Weighted average remaining contractual life (Year) | |||
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 13 - Stock-based Compens76
Note 13 - Stock-based Compensation - Restricted Stock (Details) - Restricted Stock [Member] - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Unvested (in shares) | 145,235 | 155,858 |
Unvested, grant date weighted average cost (in dollars per share) | $ 21.57 | $ 18.98 |
Awarded (in shares) | 28,625 | 51,122 |
Shares awarded, grant date weighted average cost (in dollars per share) | $ 44.85 | $ 25.78 |
Unvested, grant date weighted average cost (in dollars per share) | $ 27.57 | $ 21.57 |
Restrictions lapsed and released (in shares) | (46,220) | (49,265) |
Restrictions lapsed and shares released, grant date weighted average cost (in dollars per share) | $ 19.76 | $ 17.98 |
Forfeited (in shares) | (4,374) | (12,480) |
Shares forfeited, grant date weighted average cost (in dollars per share) | $ 24.10 | $ 20.69 |
Unvested (in shares) | 123,266 | 145,235 |
Note 13 - Stock-based Compens77
Note 13 - Stock-based Compensation - Performance-based Restricted Stock Units (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Expected shares to be awarded (in shares) | 277,216 | ||
Performance Shares [Member] | |||
Vesting period in years (Year) | 3 years | ||
Performance Shares [Member] | Executive Officer [Member] | |||
Expected shares to be awarded (in shares) | 24,756 | 58,786 | 51,910 |
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 |
Note 14 - Stock Split (Details
Note 14 - 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 15 - Commitments and Con79
Note 15 - Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Loss Contingency Accrual | $ 350 | |
Standby Letters of Credit [Member] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $ 17,000 | $ 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 | $ 670,400 | $ 628,300 |
Note 16 - Assets and Liabilit80
Note 16 - Assets and Liabilities Measured and Reported at Fair Value (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 3,200 | $ 5,000 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,641 | 2,660 |
Impaired Financing Receivable, Related Allowance | 985 | 1,267 |
Impaired Loans [Member] | Appraisal Discount Method [Member] | ||
Assets, Fair Value Disclosure | 1,700 | 1,400 |
Mortgage Servicing Rights [Member] | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | ||
Assets, Fair Value Disclosure | 576,304 | 570,277 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | Appraisal Discount Method [Member] | ||
Assets, Fair Value Disclosure | 1,666 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Note 16 - Assets and Liabilit81
Note 16 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Securities available-for-sale, fair value | $ 576,291 | $ 570,074 | |
Fair Value, Measurements, Recurring [Member] | |||
Total assets | 576,304 | 570,277 | |
Interest rate swaps | 45 | 178 | |
Securities available-for-sale, fair value | 576,291 | 570,074 | |
Interest rate swaps | 13 | 203 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Total assets | 703 | 75,697 | |
Interest rate swaps | |||
Securities available-for-sale, fair value | 703 | 75,697 | |
Interest rate swaps | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Total assets | 575,601 | 494,580 | |
Interest rate swaps | 45 | 178 | |
Securities available-for-sale, fair value | 575,588 | 494,377 | |
Interest rate swaps | 13 | 203 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Total assets | 0 | 0 | |
Interest rate swaps | |||
Securities available-for-sale, fair value | |||
Interest rate swaps | |||
US Government-sponsored Enterprises Debt Securities [Member] | |||
Securities available-for-sale, fair value | 366,678 | 268,090 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, fair value | 366,678 | 268,090 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, fair value | |||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, fair value | 366,678 | 268,090 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, fair value | |||
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, fair value | 74,998 | ||
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, fair value | 74,998 | ||
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, fair value | |||
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, fair value | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Securities available-for-sale, fair value | 154,874 | 168,843 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, fair value | 154,874 | 168,843 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, fair value | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, fair value | 154,874 | 168,843 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, fair value | |||
US States and Political Subdivisions Debt Securities [Member] | |||
Securities available-for-sale, fair value | 54,036 | 57,444 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, fair value | 54,036 | 57,444 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, fair value | |||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, fair value | 54,036 | 57,444 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, fair value | |||
Common Stock [Member] | |||
Securities available-for-sale, fair value | $ 703 | 699 | |
Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, fair value | $ 703 | 699 | |
Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, fair value | 703 | 699 | |
Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, fair value | |||
Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, fair value |
Note 16 - Assets and Liabilit82
Note 16 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Other real estate owned | $ (64) | $ 443 | |
Fair Value, Measurements, Nonrecurring [Member] | |||
Total | (478) | (173) | |
Impaired loans | 1,666 | $ 1,393 | |
Impaired loans | (307) | (173) | |
Other real estate owned | 2,640 | 4,488 | |
Other real estate owned | (171) | ||
Total | 4,306 | 5,881 | |
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 | 1,666 | 1,393 | |
Other real estate owned | 2,640 | 4,488 | |
Total | $ 4,306 | $ 5,881 |
Note 16 - Assets and Liabilit83
Note 16 - Assets and Liabilities Measured and Reported at Fair Value - Significant Unobservable Inputs (Details) - Appraisal Discount Method [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Impaired Loans [Member] | ||
Assets, Fair Value Disclosure | $ 1,700 | $ 1,400 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure | $ 1,666 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | ||
Weighted average of input | 5.20% | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure | $ 2,640 | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | ||
Weighted average of input | 23.40% |
Note 17 - Disclosure of Finan84
Note 17 - 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 | Jun. 30, 2017 | Dec. 31, 2016 |
Financial assets | ||
Accrued interest receivable | $ 6,865 | $ 6,878 |
Cash and short-term investments | 125,125 | 47,973 |
Financial liabilities | ||
Accrued interest payable | 187 | 144 |
Reported Value Measurement [Member] | ||
Financial assets | ||
Federal Home Loan Bank stock and other securities | 7,666 | 6,347 |
Loans, net | 2,284,553 | 2,281,368 |
Accrued interest receivable | 6,865 | 6,878 |
Cash and short-term investments | 125,125 | 47,973 |
Mortgage loans held for sale | 3,055 | 3,213 |
Financial liabilities | ||
Deposits | 2,478,546 | 2,520,548 |
Short-term borrowings | 226,487 | 114,969 |
FHLB advances | 50,433 | 51,075 |
Accrued interest payable | 187 | 144 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets | ||
Federal Home Loan Bank stock and other securities | 7,666 | 6,347 |
Loans, net | 2,290,556 | 2,284,569 |
Accrued interest receivable | 6,865 | 6,878 |
Cash and short-term investments | 125,125 | 47,973 |
Mortgage loans held for sale | 3,121 | 3,481 |
Financial liabilities | ||
Deposits | 2,477,385 | 2,519,725 |
Short-term borrowings | 226,487 | 114,969 |
FHLB advances | 50,531 | 50,806 |
Accrued interest payable | 187 | 144 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Federal Home Loan Bank stock and other securities | ||
Loans, net | ||
Accrued interest receivable | 6,865 | 6,878 |
Cash and short-term investments | 125,125 | 47,973 |
Mortgage loans held for sale | ||
Financial liabilities | ||
Deposits | ||
Short-term borrowings | ||
FHLB advances | ||
Accrued interest payable | 187 | 144 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Federal Home Loan Bank stock and other securities | 7,666 | 6,347 |
Loans, net | ||
Accrued interest receivable | ||
Cash and short-term investments | ||
Mortgage loans held for sale | 3,121 | 3,481 |
Financial liabilities | ||
Deposits | ||
Short-term borrowings | 226,487 | 114,969 |
FHLB advances | 50,531 | 50,806 |
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Federal Home Loan Bank stock and other securities | ||
Loans, net | 2,290,556 | 2,284,569 |
Accrued interest receivable | ||
Cash and short-term investments | ||
Mortgage loans held for sale | ||
Financial liabilities | ||
Deposits | 2,477,385 | 2,519,725 |
Short-term borrowings | ||
FHLB advances | ||
Accrued interest payable |
Note 18 - Derivative Financia85
Note 18 - Derivative Financial Instruments (Details Textual) - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Jun. 30, 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 | ||
Interest Rate Swap, Maturing December 6, 2020 [Member] | |||
Derivative, Notional Amount | $ 20,000 | $ 20,000 |
Note 18 - Derivative Financia86
Note 18 - Derivative Financial Instruments - Outstanding Undesignated Interest Rate Swap Contracts (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Receiving [Member] | ||
Notional amount | $ 47,000 | $ 43,986 |
Weighted average maturity (years) (Year) | 9 years 255 days | 9 years 328 days |
Fair value | $ (178) | |
Paying [Member] | ||
Notional amount | $ 47,000 | $ 43,986 |
Weighted average maturity (years) (Year) | 9 years 255 days | 9 years 328 days |
Fair value | $ (13) | $ 178 |
Note 18 - Derivative Financia87
Note 18 - Derivative Financial Instruments - Derivative Position Designated As a Cash Flow Hedge (Details) - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Notional amount | $ 30,000 | ||
Pay fixed swap rate | 1.82% | ||
Fair value | $ (32) | $ 25 | |
Interest Rate Swap, Maturing December 6, 2021 [Member] | |||
Notional amount | $ 10,000 | ||
Receive (variable index) | US 3 Month LIBOR | ||
Pay fixed swap rate | 1.89% | ||
Fair value | $ (21) | 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 | $ (11) | $ 9 |
Note 19 - Regulatory Matters -
Note 19 - Regulatory Matters - Risk Based Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Total risk-based capital | ||||
Total risk-based capital, actual amount | [1] | $ 351,241 | $ 338,525 | |
Total risk-based capital, actual ratio | [1] | 13.49% | 13.04% | |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 208,297 | $ 207,684 | |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 8.00% | 8.00% | |
Total risk-based capital, minimum for well capitalized amount | [1],[2] | |||
Total risk-based capital, minimum for well capitalized ratio | [1],[2] | |||
Common equity tier 1 risk-based capital | ||||
Common Equity Tier 1 risk-based capital, actual amount | $ 325,753 | $ 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 | $ 117,177 | $ 116,832 | ||
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 | [2] | |||
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | [2] | |||
Tier 1 risk-based capital | ||||
Leverage, minimum for well capitalized ratio | [2],[3] | |||
Tier 1 risk-based capital, actual amount | [1] | $ 325,753 | $ 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] | $ 156,236 | $ 155,775 | |
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],[2] | |||
Tier 1 risk-based capital, minimum for well capitalized ratio | [1],[2] | |||
Leverage | ||||
Leverage, actual amount | [3] | $ 325,753 | $ 314,147 | |
Leverage, actual ratio | [3] | 10.88% | 10.54% | |
Leverage, minimum for adequately capitalized amount | [3] | $ 119,762 | $ 119,221 | |
Leverage, minimum for adequately capitalized ratio | [3] | 4.00% | 4.00% | |
Leverage, minimum for well capitalized amount | [2],[3] | |||
Subsidiaries [Member] | ||||
Total risk-based capital | ||||
Total risk-based capital, actual amount | [1] | $ 338,984 | $ 325,630 | |
Total risk-based capital, actual ratio | [1] | 13.06% | 12.57% | |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 207,647 | $ 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] | $ 259,559 | $ 259,053 | |
Total risk-based capital, minimum for well capitalized ratio | [1] | 10.00% | 10.00% | |
Common equity tier 1 risk-based capital | ||||
Common Equity Tier 1 risk-based capital, actual amount | $ 313,496 | $ 301,252 | ||
Common Equity Tier 1 risk-based capital, actual ratio | 12.08% | 11.63% | ||
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 116,782 | $ 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 | $ 155,710 | $ 155,418 | ||
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | 6.00% | 6.00% | ||
Tier 1 risk-based capital | ||||
Leverage, minimum for well capitalized ratio | [3] | 5.00% | 5.00% | |
Tier 1 risk-based capital, actual amount | [1] | $ 313,496 | $ 301,252 | |
Tier 1 risk-based capital, actual ratio | [1] | 12.08% | 11.63% | |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 155,710 | $ 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] | $ 155,710 | $ 155,418 | |
Tier 1 risk-based capital, minimum for well capitalized ratio | [1] | 6.00% | 6.00% | |
Leverage | ||||
Leverage, actual amount | [3] | $ 313,496 | $ 301,252 | |
Leverage, actual ratio | [3] | 10.48% | 10.11% | |
Leverage, minimum for adequately capitalized amount | [3] | $ 119,655 | $ 119,190 | |
Leverage, minimum for adequately capitalized ratio | [3] | 4.00% | 4.00% | |
Leverage, minimum for well capitalized amount | [3] | $ 149,569 | $ 148,987 | |
[1] | Ratio is computed in relation to risk-weighted assets. | |||
[2] | Not applicable. Regulatory framework does not define well capitalized for holding companies. | |||
[3] | Ratio is computed in relation to average assets. |
Note 20 - Segments (Details Tex
Note 20 - Segments (Details Textual) | Jun. 30, 2017USD ($) |
Commercial Banking [Member] | Operating Segments [Member] | |
Goodwill | $ 682,000 |
Note 20 - Segments - Financial
Note 20 - Segments - Financial Information by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Non-interest expense | $ 21,346 | $ 20,193 | $ 42,494 | $ 39,733 | |
Income before income taxes | 14,961 | 13,785 | 28,894 | 27,296 | |
Income tax expense | 4,359 | 3,676 | 7,501 | 7,352 | |
Net income | 10,602 | 10,109 | 21,393 | 19,944 | |
Segment assets | 3,126,762 | 2,909,519 | 3,126,762 | 2,909,519 | $ 3,039,481 |
Net interest income | 25,232 | 23,950 | 50,416 | 47,419 | |
Provision for loan losses | 600 | 750 | 1,500 | 1,250 | $ 3,000 |
Wealth management and trust services | 5,153 | 4,807 | 10,247 | 9,419 | |
All other non-interest income | 6,522 | 5,971 | 12,225 | 11,441 | |
Commercial Banking [Member] | |||||
Non-interest expense | 18,164 | 17,297 | 36,265 | 34,192 | |
Income before income taxes | 12,910 | 11,812 | 24,719 | 23,294 | |
Income tax expense | 3,626 | 2,971 | 6,010 | 5,922 | |
Net income | 9,284 | 8,841 | 18,709 | 17,372 | |
Segment assets | 3,124,522 | 2,907,393 | 3,124,522 | 2,907,393 | |
Net interest income | 25,152 | 23,888 | 50,259 | 47,295 | |
Provision for loan losses | 600 | 750 | 1,500 | 1,250 | |
Wealth management and trust services | |||||
All other non-interest income | 6,522 | 5,971 | 12,225 | 11,441 | |
Investment Management and Trust [Member] | |||||
Non-interest expense | 3,182 | 2,896 | 6,229 | 5,541 | |
Income before income taxes | 2,051 | 1,973 | 4,175 | 4,002 | |
Income tax expense | 733 | 705 | 1,491 | 1,430 | |
Net income | 1,318 | 1,268 | 2,684 | 2,572 | |
Segment assets | 2,240 | 2,126 | 2,240 | 2,126 | |
Net interest income | 80 | 62 | 157 | 124 | |
Provision for loan losses | |||||
Wealth management and trust services | 5,153 | 4,807 | 10,247 | 9,419 | |
All other non-interest income |