Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 22, 2019 | Jun. 30, 2018 | |
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 | Large Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Common Stock, Shares Outstanding (in shares) | 22,791,883 | ||
Entity Public Float | $ 786,898,457 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Shell Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 51,892 | $ 41,982 |
Federal funds sold and interest bearing due from banks | 147,047 | 97,266 |
Cash and cash equivalents | 198,939 | 139,248 |
Mortgage loans held for sale | 1,675 | 2,964 |
Securities available for sale (amortized cost of $443,742 in 2018 and $577,406 in 2017) | 436,995 | 574,524 |
Federal Home Loan Bank stock and other securities | 10,370 | 7,646 |
Loans | 2,548,171 | 2,409,570 |
Less allowance | 25,534 | 24,885 |
Net loans | 2,522,637 | 2,384,685 |
Premises and equipment, net | 44,764 | 41,655 |
Bank owned life insurance | 32,273 | 32,049 |
Accrued interest receivable | 8,360 | 8,369 |
Other assets | 46,911 | 48,506 |
Total assets | 3,302,924 | 3,239,646 |
Liabilities | ||
Non-interest bearing | 711,023 | 674,697 |
Interest bearing | 2,083,333 | 1,903,598 |
Total deposits | 2,794,356 | 2,578,295 |
Securities sold under agreements to repurchase | 36,094 | 70,473 |
Federal funds purchased | 10,247 | 161,352 |
Accrued interest payable | 762 | 232 |
Other liabilities | 46,788 | 46,192 |
Federal Home Loan Bank advances | 48,177 | 49,458 |
Total liabilities | 2,936,424 | 2,906,002 |
Commitments and contingent liabilities (note 19) | ||
Stockholders’ equity | ||
Preferred stock, no par value; 1,000,000 shares authorized; no shares issued or outstanding | ||
Common stock, no par value; 40,000,000 shares authorized; 22,749,139 and 22,679,362 shares issued and outstanding in 2018 and 2017, respectively | 36,689 | 36,457 |
Additional paid-in capital | 36,797 | 31,924 |
Retained earnings | 298,156 | 267,193 |
Accumulated other comprehensive loss | (5,142) | (1,930) |
Total stockholders’ equity | 366,500 | 333,644 |
Total liabilities and stockholders’ equity | $ 3,302,924 | $ 3,239,646 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Securities available for sale, amortized cost | $ 443,742 | $ 577,406 |
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) | 22,749,139 | 22,679,362 |
Common stock, shares outstanding (in shares) | 22,749,139 | 22,679,362 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Interest income | ||||
Loans | $ 118,467 | $ 99,924 | $ 91,833 | |
Federal funds sold and interest bearing deposits | 1,307 | 1,330 | 491 | |
Mortgage loans held for sale | 166 | 191 | 237 | |
Securities | ||||
Taxable | 9,001 | 8,365 | 8,451 | |
Tax-exempt | 832 | 1,089 | 1,195 | |
Total interest income | 129,773 | 110,899 | 102,207 | |
Interest expense | ||||
Deposits | 13,441 | 5,975 | 3,943 | |
Securities sold under agreements to repurchase and other short term borrowing | 992 | 316 | 212 | |
Long term debt | 924 | 955 | 763 | |
Total interest expense | 15,357 | 7,246 | 4,918 | |
Net interest income | 114,416 | 103,653 | 97,289 | |
Provision for loan losses | 2,705 | 2,550 | 3,000 | |
Net interest income after provision for loan losses | 111,711 | 101,103 | 94,289 | |
Non-interest income: | ||||
Non-interest income | 23,810 | 23,994 | 23,765 | |
Mortgage banking | 2,568 | 3,221 | 3,897 | |
(Loss) on sale of securities available for sale | (232) | |||
Bank owned life insurance | 1,129 | 1,159 | 871 | |
Total non-interest income | 45,346 | 44,499 | 42,920 | |
Non-interest expenses | ||||
Compensation | 46,104 | 42,581 | 40,814 | |
Employee benefits | 10,098 | 9,987 | 8,368 | |
Net occupancy and equipment | 7,653 | 7,393 | 7,422 | |
Technology and communication | 8,897 | 7,957 | 7,040 | |
Marketing and business development | 3,099 | 2,716 | 2,464 | |
Postage, printing and supplies | 1,558 | 1,475 | 1,521 | |
Legal and professional | 2,614 | 2,393 | 1,869 | |
FDIC insurance | 961 | 960 | 1,181 | |
Amortization/impairment of investments in tax credit partnerships | 1,237 | 7,124 | 4,458 | |
Capital and deposit based taxes | 3,325 | 3,440 | 2,800 | |
Other | 3,963 | 4,394 | 3,001 | |
Total non-interest expenses | 89,509 | 90,420 | 80,938 | |
Income before income taxes | 67,548 | 55,182 | 56,271 | |
Income tax expense | 12,031 | 17,139 | 15,244 | |
Net income | $ 55,517 | $ 38,043 | $ 41,027 | |
Net income per share, basic (in dollars per share) | $ 2.45 | $ 1.69 | $ 1.84 | |
Net income per share, diluted (in dollars per share) | $ 2.42 | $ 1.66 | $ 1.80 | |
Average common shares: | ||||
Basic (in shares) | 22,619 | 22,532 | 22,356 | |
Diluted (in shares) | 22,944 | 22,983 | 22,792 | |
Fiduciary and Trust [Member] | ||||
Non-interest income: | ||||
Non-interest income | $ 21,536 | $ 20,505 | $ 19,155 | |
Deposit Account [Member] | ||||
Non-interest income: | ||||
Non-interest income | 5,759 | 6,172 | 6,037 | |
Credit and Debit Card [Member] | ||||
Non-interest income: | ||||
Non-interest income | 6,769 | 5,979 | 5,655 | |
Treasury Management [Member] | ||||
Non-interest income: | ||||
Non-interest income | 4,571 | 4,297 | 3,867 | |
Investment Advisory, Management and Administrative Service [Member] | ||||
Non-interest income: | ||||
Non-interest income | 1,677 | 1,629 | 1,563 | |
Product and Service, Other [Member] | ||||
Non-interest income: | ||||
Non-interest income | [1] | $ 1,337 | $ 1,769 | $ 1,875 |
[1] | Includes safe box deposit fees of $177 thousand, $165 thousand, and $168 thousand included within the scope of ASC 606 in 2018, 2017, and 2016, respectively |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net income | $ 55,517 | $ 38,043 | $ 41,027 |
Other comprehensive loss, before tax: | |||
Unrealized losses arising during the period | (3,865) | (1,252) | (3,347) |
Unrealized gains arising during the period | 220 | 321 | 68 |
Minimum pension liability adjustment arising during the period | 219 | (79) | 2 |
Reclassification adjustment for securities losses reclassified out of other comprehensive income into loss on sale of securities available for sale | 232 | ||
Other comprehensive loss before income tax benefit | (3,426) | (778) | (3,277) |
Income tax benefit related to items of other comprehensive income | (720) | (347) | (1,146) |
Other comprehensive loss, net of tax benefit | (2,706) | (431) | (2,131) |
Comprehensive income | $ 52,811 | $ 37,612 | $ 38,896 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - 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 Dec. 31, 2015 | $ 10,616 | $ 44,180 | $ 231,091 | $ 632 | $ 286,519 | |
Net income | 41,027 | 41,027 | ||||
Other comprehensive loss, net of tax | (2,131) | (2,131) | ||||
Stock compensation expense | 2,473 | 2,473 | ||||
Stock issued for stock-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 214 | |||||
Stock issued for stock-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 711 | 5,217 | 2,124 | |||
Adjustments to Retained Earnings upon Satisfaction of Employee Tax Obligations | (3,804) | |||||
3 for 2 stock split (see note 14) (in shares) | 7,494 | |||||
3 for 2 stock split (see note 14) | $ 24,956 | (24,956) | ||||
Cash dividends declared | (16,140) | (16,140) | ||||
Shares repurchased or cancelled (in shares) | (10) | |||||
Shares repurchased or cancelled | $ (33) | (232) | ||||
Adjustments to Retained Earnings, Shares repurchased or cancelled | 265 | |||||
Balance (in shares) at Dec. 31, 2016 | 22,617 | |||||
Balance at Dec. 31, 2016 | $ 36,250 | 26,682 | 252,439 | (1,499) | 313,872 | |
Net income | 38,043 | 38,043 | ||||
Other comprehensive loss, net of tax | (431) | (431) | ||||
Stock compensation expense | 2,892 | 2,892 | ||||
Stock issued for stock-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 69 | |||||
Stock issued for stock-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 231 | 2,500 | (2,605) | |||
Adjustments to Retained Earnings upon Satisfaction of Employee Tax Obligations | (5,336) | |||||
Cash dividends declared | (18,127) | (18,127) | ||||
Shares repurchased or cancelled (in shares) | (7) | |||||
Shares repurchased or cancelled | $ (24) | (150) | ||||
Adjustments to Retained Earnings, Shares repurchased or cancelled | 174 | |||||
Balance (in shares) at Dec. 31, 2017 | 22,679 | |||||
Balance at Dec. 31, 2017 | $ 36,457 | 31,924 | 267,193 | (1,930) | [1] | 333,644 |
Net income | 55,517 | 55,517 | ||||
Other comprehensive loss, net of tax | (2,706) | (2,706) | ||||
Stock compensation expense | 4,027 | 4,027 | ||||
Stock issued for stock-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 75 | |||||
Stock issued for stock-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 249 | 987 | (2,158) | |||
Adjustments to Retained Earnings upon Satisfaction of Employee Tax Obligations | (3,394) | |||||
Cash dividends declared | (21,824) | (21,824) | ||||
Shares repurchased or cancelled (in shares) | (5) | |||||
Shares repurchased or cancelled | $ (17) | (141) | ||||
Adjustments to Retained Earnings, Shares repurchased or cancelled | 158 | |||||
Reclassification adjustment under Accounting Standards Update 2018-02 | 506 | (506) | ||||
Balance (in shares) at Dec. 31, 2018 | 22,749 | |||||
Balance at Dec. 31, 2018 | $ 36,689 | $ 36,797 | $ 298,156 | $ (5,142) | $ 366,500 | |
[1] | December 31, 2017 AOCI component balances reflect a correction of incorrectly reported year-end balances in Note 12 of the 2017 Form 10-K, which were presented as $(2,278), $234, and $(392) for securities available for sale, cash flow hedges, and minimum pension liability, respectively. |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Retained Earnings [Member] | |||
Cash dividends declared (in dollars per share) | $ 0.96 | $ 0.80 | $ 0.72 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating activities | |||
Net income | $ 55,517 | $ 38,043 | $ 41,027 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 2,705 | 2,550 | 3,000 |
Depreciation, amortization and accretion, net | 5,782 | 13,640 | 11,142 |
Deferred income tax (benefit) expense | (268) | 3,971 | 276 |
Loss on sale of securities available for sale | 232 | ||
Gain on sales of mortgage loans held for sale | (1,443) | (1,989) | (2,482) |
Origination of mortgage loans held for sale | (71,807) | (97,623) | (123,347) |
Proceeds from sale of mortgage loans held for sale | 74,539 | 99,861 | 129,416 |
Bank owned life insurance income | (1,129) | (1,159) | (871) |
Gain on other investment activities | (113) | (92) | (588) |
Net realized gain on sale of OREO | (102) | (39) | (409) |
Loss on the disposal of premises and equipment | 56 | 202 | |
Stock-based compensation expense | 4,027 | 2,892 | 2,473 |
Excess tax benefits from stock-based compensation arrangements | (549) | (1,463) | (1,705) |
Net change in accrued interest receivable and other assets | (582) | (13,848) | (7,438) |
Net change in accrued interest payable and other liabilities | (744) | 8,700 | 12,566 |
Net cash provided by operating activities | 65,889 | 53,676 | 63,262 |
Investing activities | |||
Purchases of securities available for sale | (768,407) | (661,086) | (478,798) |
Proceeds from sale of securities available for sale | 0 | 421 | 0 |
Proceeds from maturities and paydowns of securities available for sale | 901,512 | 652,411 | 468,271 |
Purchase of Federal Home Loan Bank Stock | (2,724) | (2,254) | |
Proceeds from sale of Federal Home Loan Bank stock | 955 | ||
Net increase in loans | (137,835) | (105,867) | (275,718) |
Purchases of premises and equipment | (7,057) | (2,786) | (6,327) |
Proceeds from disposal of equipment | 230 | 66 | |
Proceeds from mortality benefit of bank owned life insurance | 977 | ||
Proceeds from sale of OREO | 3,895 | 2,432 | 1,826 |
Other investment activities | (1,184) | 92 | 1,108 |
Net cash used in investing activities | (11,570) | (114,705) | (289,572) |
Financing activities | |||
Net change in deposits | 216,061 | 57,747 | 148,846 |
Net change in securities sold under agreements to repurchase and federal funds purchased | (185,484) | 116,856 | 27,966 |
Proceeds from Federal Home Loan Bank advances | 120,000 | 120,000 | 289,000 |
Repayments of Federal Home Loan Bank advances | (121,281) | (121,617) | (281,393) |
Proceeds (used for) and received from settlement of stock awards | (154) | (216) | 2,337 |
Excess tax benefits from stock-based compensation arrangements | 1,705 | ||
Common stock repurchases | (2,004) | (2,389) | (1,918) |
Cash dividends paid | (21,766) | (18,077) | (16,093) |
Net cash provided by financing activities | 5,372 | 152,304 | 170,450 |
Net increase (decrease) in cash and cash equivalents | 59,691 | 91,275 | (55,860) |
Cash and cash equivalents at beginning of period | 139,248 | 47,973 | 103,833 |
Cash and cash equivalents at end of period | 198,939 | 139,248 | 47,973 |
Supplemental cash flow information: | |||
Income tax payments | 7,227 | 15,838 | 12,860 |
Cash paid for interest | 14,827 | 7,158 | 4,901 |
Supplemental non-cash activity: | |||
Transfers from loans to foreclosed assets | 2,170 | 1,916 | |
Loans purchased not settled | $ 4,992 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 Principles of Consolidation and Nature of Operations The consolidated financial statements include accounts of Stock Yards Bancorp, Inc. (“Bancorp”) and its wholly owned subsidiary, Stock Yards Bank & Trust Company (“the Bank”). Significant intercompany transactions and accounts have been eliminated in consolidation. Certain prior year amounts have been reclassified to conform to 2018 none. In addition to traditional commercial and personal banking activities, Bancorp has a wealth management and trust department offering a wide range of investment management, retirement planning, trust and estate administration and financial planning services. Bancorp’s primary market area is Louisville, Kentucky and surrounding communities including southern Indiana. Other markets include Indianapolis, Indiana and Cincinnati, Ohio. Basis of Financial Statement Presentation and Use of Estimates The consolidated financial statements of Bancorp and its subsidiary have been prepared in conformity with U.S. generally accepted accounting principles (“US GAAP”) and conform to predominant practices within the banking industry. In preparing the 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 particularly susceptible to significant change relate to determination of the allowance, and income tax assets, liabilities and expense. Cash Equivalents and Cash Flows Cash and cash equivalents include cash and due from banks, federal funds sold and interest bearing due from banks as segregated in the accompanying consolidated balance sheets. The following supplemental cash flow information addresses certain cash payments and noncash transactions for each of the years in the three December 31, 2018 (In thousands) Years ended December 31, 201 8 201 7 201 6 Cash payments: Income tax payments $ 7,227 $ 15,838 $ 12,860 Cash paid for interest 14,827 7,158 4,901 Non-cash transactions: Transfers from loans to OREO $ 2,170 $ – $ 1,916 Securities All of Bancorp’s debt securities are available for sale. Equity securities, if held, are carried at fair value with changes in fair value recorded in net income. Securities available for sale include securities that may 1 2 not 3 not not not not not 4 Mortgage Loans Held for Sale Mortgage loans held for sale are initially recorded at the lower of cost or market value on an individual loan basis. The sales prices of all of these loans are covered by investor commitments. Loans Loans are stated at the unpaid principal balance plus deferred loan origination fees, net of deferred loan costs. Loan fees, net of any costs, are deferred and amortized over the life of the related loan on an effective yield basis. Interest income on loans is recorded on the accrual basis except for those loans in a non-accrual income status. Loans are placed in a non-accrual income 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 not No may not no not six Loans are classified as impaired when it is probable Bancorp will be unable to collect interest and principal according to terms of the loan agreement. These loans are measured at the estimated fair value of the loans’ collateral, if applicable, or on the present value of future cash flows discounted at the loans’ effective interest rate. Impaired loans consist of loans in non-accrual status and loans accounted for as troubled debt restructuring. Allowance for loan and lease losses The allowance 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 uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Bancorp’s allowance methodology is driven by risk ratings, historical losses, and qualitative factors. Assumptions include many factors such as changes in borrowers’ financial condition or historical loss ratios related to certain loan portfolios which may may not first 2018, 28 32 not 32 $1.3 28 March 31, 2018. Bancorp’s allowance calculation includes allocations to loan portfolio segments for qualitative factors including, among other factors, local economic and business conditions, the quality and experience of lending staff and management, exceptions to lending policies, levels of and trends in past due loans and loan classifications, concentrations of credit such as collateral type, trends in portfolio growth, trends in the value of underlying collateral for collateral-dependent loans, effect of other external factors such as the national economic and business trends, and the quality and depth of the loan review function. Bancorp utilizes the sum of all allowance amounts derived as described above as the appropriate level of allowance. Changes in the criteria used in this evaluation or the availability of new information could cause the allowance to be increased or decreased in future periods. Based on this quantitative and qualitative analysis, provisions (reductions) are made to the allowance. Such provisions (reductions) are reflected as a charge against (benefit to) current earnings in Bancorp’s consolidated statements of income. The adequacy of the allowance is monitored by executive management and reported quarterly to the Audit Committee of the Board of Directors. This committee has approved the overall methodology. Various regulatory agencies, as an integral part of their examination process, periodically review the adequacy of Bancorp’s allowance. Such agencies may The accounting policy related to the allowance is applicable to the commercial banking segment of Bancorp. Acquired loans Bancorp acquired loans in 2013 3 Acquired loans that had evidence of deterioration in credit quality since origination and for which it was probable, at acquisition, that Bancorp would be unable to collect all contractually required payments were specifically identified and analyzed. The excess of cash flows expected at acquisition over the estimated fair value is referred to as accretable discount and is recognized as interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as non-accretable discount. Subsequent decreases to the expected cash flows require Bancorp to evaluate the need for an allowance for loan losses on these loans. Charge-offs of the principal amount on credit-impaired acquired loans would be first may For acquired loans that are not Premises and Equipment Premises and equipment are carried at cost, less accumulated depreciation and amortization. Depreciation of premises and equipment is computed using straight-line methods over the estimated useful lives of the assets ranging from 3 40 Other Assets Bank owned life insurance (“BOLI”) is carried at net realizable value, which considers applicable surrender charges. Also, Bancorp maintains life insurance policies in conjunction with its non-qualified defined benefit and non-qualified compensation plans. Other real estate is carried at the lower of cost or estimated fair value minus estimated selling costs. Any write downs to fair value at the date of acquisition are charged to the allowance. In certain situations, improvements to prepare assets for sale are capitalized if those costs increase the estimated fair value of the asset. Expenses incurred in maintaining assets, write downs to reflect subsequent declines in value, and realized gains or losses are reflected in operations and are included in non-interest income and expense. Mortgage servicing rights (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 the carrying value to fair value. Goodwill is measured and evaluated at least annually for impairment. No Securities Sold Under Agreements to Repurchase Bancorp enters into sales of securities under agreement to repurchase. Such repurchase agreements are considered financing agreements, and mature within one Income Taxes Bancorp accounts for income taxes using the asset and liability method. The objective of the asset and liability method is to establish deferred tax assets and liabilities for temporary differences between the financial reporting and the tax bases of Bancorp’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of income in the period that includes the enactment date. The Tax Cuts and Jobs Act was enacted on December 22, 2017 35% 21% January 1, 2018, $5.9 fourth 2017. Bancorp periodically invests in certain partnerships with customers that yield historic tax credits, which are accounted for using the flow through method, which approximates the equity method, and/or low-income housing tax credits as well as tax deductible losses, which are accounted for using the effective yield method for older transactions or proportional amortization method for more recent transactions. The tax benefit of these investments exceeds amortization/impairment expense associated with them, resulting in a positive impact on net income. Realization of deferred tax assets associated with the investment in partnerships is dependent upon generating sufficient taxable capital gain income prior to their expiration. A valuation allowance to reflect management’s estimate of the temporary deductible differences that may 2018 2017. To the extent unrecognized income tax benefits become realized or the related accrued interest is no December 31, 2018, $29 $40 December 31, 2017, 8 may Bancorp’s policy is to report interest and penalties, if any, related to unrecognized tax benefits in income tax expense. As of December 31, 2018 2017, Net Income Per Share Basic net income per common share is determined by dividing net income by the weighted average number of shares of common stock outstanding. Diluted net income per share is determined by dividing net income by the weighted average number of shares of common stock outstanding plus the weighted average number of shares that would be issued upon exercise of dilutive options and stock appreciation rights, assuming proceeds are used to repurchase shares under the treasury stock method. Comprehensive Income Comprehensive income is defined as the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. For Bancorp, this includes net income, changes in unrealized gains and losses on available for sale investment securities and cash flow hedging instruments, net of reclassification adjustments and taxes, and minimum pension liability adjustments, net of taxes. Segment Information Bancorp provides a broad range of financial services to individuals, corporations and others through its 38 December 31, 2018. two Stock-Based Compensation For all awards, stock-based compensation expense is recognized over the period in which it is earned based on the grant-date fair value of the portion of stock-based payment awards that are ultimately expected to vest, reduced for estimated forfeitures. US GAAP requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Derivatives Bancorp uses derivative financial instruments as part of its interest rate risk management, including interest rate swaps. US GAAP establishes accounting and reporting standards for derivative instruments and hedging activities. As required by US GAAP, Bancorp’s interest rate swaps are recognized as other assets and liabilities in the consolidated balance sheet at fair value. Accounting for changes in fair value of derivatives depends on the intended use of the derivative and the resulting designation. Derivatives used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. To qualify for hedge accounting, Bancorp must comply with detailed rules and documentation requirements at inception of the hedge, and hedge effectiveness is assessed at inception and periodically throughout the life of each hedging relationship. Hedge ineffectiveness, if any, is measured periodically throughout the life of the hedging relationship. For derivatives designated as cash flow hedges, the effective portion of changes in fair value of the derivative is initially reported in other comprehensive income and subsequently reclassified to interest income or expense when the hedged transaction affects earnings, while the ineffective portion of changes in fair value of derivative, if any, is recognized immediately in other noninterest income. Bancorp assesses effectiveness of each hedging relationship by comparing cumulative changes in cash flows of the derivative hedging instrument with cumulative changes in cash flows of the designated hedged item or transaction. No Periodically, Bancorp enters into an interest rate swap transaction with a borrower, who desires to hedge 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. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition have an insignificant effect on earnings. Because these derivative instruments have not Bancorp had no December 31, 2018 2017. not 22 Recently Adopted Accounting Pronouncements Accounting Standards Update (ASU) 2014 09, Revenue – Revenue from Contracts with Customers 2014 09 606 January 1, 2018 606. not 2014 09. not no 606 20 The only impact to financial statement presentation was reclassification from expense to contra income costs incurred to obtain and fulfill contracts associated with investment product sales. All periods presented in these financial statements have been adjusted to reflect the reclassification, the effect of which can be seen below. For years ended December 31, (In thousands) 2018 2017 2016 Non-interest income Investment product sales commissions and fees under legacy GAAP $ 2,224 $ 2,200 $ 2,145 Less variable costs (547 ) (571 ) (582 ) Net investment product sales commissions and fees reported 1,677 1,629 1,563 Non-interest expense Compensation under legacy GAAP 46,107 42,584 40,817 Less variable costs reclassified above (3 ) (3 ) (3 ) Compensation expense as reported 46,104 42,581 40,814 Technology and communication expense under legacy GAAP 9,441 8,525 7,619 Less variable costs reclassified above (544 ) (568 ) (579 ) Technology and communication expense as reported 8,897 7,957 7,040 Net impact $ - $ - $ - ASU 2016 01, Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. 2016 01 January 1, 2018. no 21. ASU 2018 02, Income Statement Reporting Comprehensive Income (Topic 220 2018 02 first 2018. December 22, 2017 $506 Recently Issued Accounting Pronouncements February 2016, No. 2016 02, Leases December 15, 2018. first 2019 $16.6 $17.9 first 2019. not 2016 02. 2016 02. ASU 2018 10, Codification Improvements to Topic 842: ASU 2018 11, Leases (Topic 842 may In June 2016, 2016 13, Measurement of Credit Losses on Financial Instruments not not December 15, 2019. one first 2020. December 2018 three In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 no December 15, 2019. may January 1, 2017. not In August 2017, 2017 12, Derivatives and Hedging (Topic 815 815. December 15, 2018. not In June 2018, 2018 07, Compensation-Stock Compensation (Topic 718 718 December 15, 2019, December 15, 2020. not In October 2018, 2018 16, Derivatives and Hedging (Topic 815 not December 15, 2018. |
Note 2 - Restrictions on Cash a
Note 2 - Restrictions on Cash and Due From banks | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Restrictions on Cash and Due from Banks Disclosure [Text Block] | ( 2 At December 31, 2018, $250,000 $1.2 $143.0 not $9.0 $8.1 December 31, 2018 2017, |
Note 3 - Acquisition
Note 3 - Acquisition | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | ( 3 Effective December 19, 2018, five three two 60 Under the terms of the Agreement, the Company will acquire all of King’s outstanding common stock in an all-cash transaction, resulting in a total cash payment to King’s existing shareholders of approximately $28 The acquisition is expected to close during second 2019, September 30, 2018, $195 $168 $126 $16 In 2013, 100% $2.5 December 31, 2018, $1.1 7 |
Note 4 - Securities
Note 4 - Securities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 4 All of Bancorp’s securities are available for sale. Amortized cost, unrealized gains and losses, and fair value of these securities follow: (In thousands) Amortized Unrealized Fair December 31, 201 8 cost Gains Losses value Government sponsored enterprise obligations $ 264,234 $ 156 $ (3,351 ) $ 261,039 Mortgage-backed securities - government agencies 149,748 282 (3,753 ) 146,277 Obligations of states and political subdivisions 29,760 107 (188 ) 29,679 Total securities available for sale $ 443,742 $ 545 $ (7,292 ) $ 436,995 (In thousands) Amortized Unrealized Fair December 31, 201 7 cost Gains Losses value U.S. Treasury and other U.S. government obligations $ 149,996 $ – $ (12 ) $ 149,984 Government sponsored enterprise obligations 214,852 474 (1,482 ) 213,844 Mortgage-backed securities - government agencies 163,571 383 (2,447 ) 161,507 Obligations of states and political subdivisions 48,987 365 (163 ) 49,189 Total securities available for sale $ 577,406 $ 1,222 $ (4,104 ) $ 574,524 In 2018 not 2017 $263 third 2017 $31 2016, not A summary of the securities available for sale by maturity as of December 31, 2018 (In thousands) Securities available for sale Amortized cost Fair value Due within 1 year $ 120,523 $ 120,239 Due after 1 but within 5 years 64,141 63,260 Due after 5 but within 10 years 8,059 7,899 Due after 10 years 101,271 99,320 Mortgage-backed securities - government agencies 149,748 146,277 Total securities available for sale $ 443,742 $ 436,995 Actual maturities may may Securities with a carrying value of $355.1 $384.7 December 31, 2018 2017, At December 31, 2018 2017, no one 10% Securities with unrealized losses not (In thousands) Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 201 8 value losses value losses value losses Government sponsored enterprise obligations $ 96,740 $ (38 ) $ 149,320 $ (3,313 ) $ 246,060 $ (3,351 ) Mortgage-backed securities - government agencies 3,108 (5 ) 120,848 (3,748 ) 123,956 (3,753 ) Obligations of states and political subdivisions 814 (1 ) 17,639 (187 ) 18,453 (188 ) Total temporarily impaired securities $ 100,662 $ (44 ) $ 287,807 $ (7,248 ) $ 388,469 $ (7,292 ) December 31, 201 7 U.S. Treasury and U.S. obligations $ 149,984 $ (12 ) $ – $ – $ 149,984 $ (12 ) Government sponsored enterprise obligations 95,139 (586 ) 49,870 (896 ) 145,009 (1,482 ) Mortgage-backed securities - government agencies 69,290 (440 ) 67,047 (2,007 ) 136,337 (2,447 ) Obligations of states and political subdivisions 22,366 (107 ) 5,064 (56 ) 27,430 (163 ) Total temporarily impaired securities $ 336,779 $ (1,145 ) $ 121,981 $ (2,959 ) $ 458,760 $ (4,104 ) Applicable dates for determining when securities are in an unrealized loss position are December 31, 2018 2017. twelve not 12 Unrealized losses on Bancorp’s investment securities portfolio have not not not may not December 31, 2018. FHLB stock and other securities are investments held by Bancorp which are not |
Note 5 - Loans
Note 5 - Loans | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 5 Composition of loans by primary loan portfolio class follows: December 31, (In thousands) 201 8 201 7 Commercial and industrial $ 833,524 $ 779,014 Construction and development, excluding undeveloped land 225,050 195,912 Undeveloped land 30,092 18,988 Real estate mortgage: Commercial investment 588,610 594,902 Owner occupied commercial 426,373 398,685 1-4 family residential 276,017 262,110 Home equity - first lien 49,500 57,110 Home equity - junior lien 70,947 63,981 Subtotal: Real estate mortgage 1,411,447 1,376,788 Consumer 48,058 38,868 Total loans $ 2,548,171 $ 2,409,570 Fees and costs of originating loans are deferred at origination and amortized over the life of the loan. Loan balances reported herein include deferred loan origination fees, net of deferred loan costs. At December 31, 2018 2017, $592 $600 Bancorp’s credit exposure is diversified with secured and unsecured loans to individuals and businesses. No ten Bancorp occasionally enters into loan participation agreements with other banks in the ordinary course of business to diversify credit risk. For certain sold participation loans, Bancorp has retained effective control of the loans, typically by restricting the participating institutions from pledging or selling their share of the loan without permission from Bancorp. US GAAP requires the participated portion of these loans to be recorded as secured borrowings. The participated portions of these loans are included in the commercial and industrial loan (C&I) totals above, and a corresponding liability is reflected in other liabilities. At December 31, 2018 2017, $10.5 $18.2 Loans to directors and their associates, including loans to companies for which directors are principal owners and executive officers are presented in the following table. (In thousands) Year ended December 31, Loans to directors and executive officers 201 8 201 7 Balance as of January 1 $ 629 $ 969 Effect of changes in composition of directors and executive officers 51,415 – Repayment of term loans – (175 ) Changes in balances of revolving lines of credit 643 (165 ) Balance as of December 31 $ 52,687 $ 629 A total of $500 December 31, 2018, none December 31, 2017. The following tables present balances in the recorded investment in loans and allowance for loan losses by portfolio segment and based on impairment evaluation method as of December 31, 2018, 2017 2016. (In thousands) Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate December 31, 201 8 industrial land land mortgage Consumer Total Loans $ 833,524 $ 225,050 $ 30,092 $ 1,411,447 $ 48,058 $ 2,548,171 Loans individually evaluated for impairment $ 220 $ 318 $ 474 $ 1,641 $ – $ 2,653 Loans collectively evaluated for impairment $ 833,304 $ 224,732 $ 29,618 $ 1,409,806 $ 48,058 $ 2,545,518 Loans acquired with deteriorated credit quality $ – $ – $ – $ – $ – $ – Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Total Allowance for loan and lease losses At December 31, 2017 $ 11,276 $ 1,724 $ 521 $ 11,012 $ 352 $ 24,885 Provision (credit) 2,539 36 231 (261 ) 160 2,705 Charge-offs (2,404 ) – – (132 ) (476 ) (3,012 ) Recoveries 554 – – 62 340 956 At December 31, 2018 $ 11,965 $ 1,760 $ 752 $ 10,681 $ 376 $ 25,534 Allowance for loans individually evaluated for impairment $ 28 $ – $ – $ 14 $ – $ 42 Allowance for loans collectively evaluated for impairment $ 11,937 $ 1,760 $ 752 $ 10,667 $ 376 $ 25,492 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, 2017 industrial land land mortgage Consumer Total Loans $ 779,014 $ 195,912 $ 18,988 $ 1,376,788 $ 38,868 $ 2,409,570 Loans individually evaluated for impairment $ 1,176 $ 664 $ 474 $ 5,066 $ – $ 7,380 Loans collectively evaluated for impairment $ 777,838 $ 195,248 $ 18,514 $ 1,371,246 $ 38,868 $ 2,401,714 Loans acquired with deteriorated credit quality $ – $ – $ – $ 476 $ – $ 476 Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Total Allowance for loan and lease losses At December 31, 2016 $ 10,483 $ 1,923 $ 684 $ 10,573 $ 344 $ 24,007 Provision (credit) 2,373 (199 ) (163 ) 383 156 2,550 Charge-offs (1,782 ) – – (98 ) (549 ) (2,429 ) Recoveries 202 – – 154 401 757 At December 31, 2017 $ 11,276 $ 1,724 $ 521 $ 11,012 $ 352 $ 24,885 Allowance for loans individually evaluated for impairment $ 34 $ – $ – $ 14 $ – $ 48 Allowance for loans collectively evaluated for impairment $ 11,242 $ 1,724 $ 521 $ 10,998 $ 352 $ 24,837 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 individually evaluated for impairment $ 2,682 $ 538 $ 474 $ 2,516 $ 59 $ 6,269 Loans collectively evaluated for impairment $ 734,139 $ 191,810 $ 21,022 $ 1,316,400 $ 35,111 $ 2,298,482 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 and lease 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 individually evaluated for impairment $ 1,207 $ – $ 1 $ – $ 59 $ 1,267 Allowance for loans collectively evaluated for impairment $ 9,276 $ 1,923 $ 683 $ 10,573 $ 285 $ 22,740 Allowance for loans acquired with deteriorated credit quality $ – $ – $ – $ – $ – $ – Considerations by Bancorp in computing its allowance are determined based on the various risk characteristics of each loan segment. Relevant risk characteristics are as follows: ● Commercial and industrial loans: Loans in this category are made to businesses. Generally these loans are secured by assets of the business and repayment is expected from 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 owner-occupied commercial real estate, repayment is dependent on financial strength of the borrower. For income-producing investment properties, repayment is dependent on financial strength of both the tenants and the borrower. Underlying properties are generally located in Bancorp’s primary market area. Cash flows of income producing investment properties may ● Consumer: Loans in this category may The following tables present loans individually evaluated for impairment as of December 31, 2018 2017. (In thousands) Unpaid Average Interest Recorded principal Related recorded income December 31, 2018 investment balance allowance investment recognized Loans with no related allowance recorded: Commercial and industrial $ 192 $ 707 $ – $ 161 $ – Construction and development, excluding undeveloped land 318 489 – 437 – Undeveloped land 474 506 – 474 – Real estate mortgage Commercial investment 138 138 – 35 – Owner occupied commercial 586 1,023 – 1,503 – 1-4 family residential 760 760 – 1,242 – Home equity - first lien – – – – Home equity - junior lien 143 143 – 73 – Subtotal: Real estate mortgage 1,627 2,064 – 2,853 – Consumer – – – 23 Subtotal $ 2,611 $ 3,766 $ – $ 3,948 $ – Loans with an allowance recorded: Commercial and industrial $ 28 $ 28 $ 28 $ 1,851 $ 2 Construction and development, excluding undeveloped land – – – – – Undeveloped land – – – 24 – Real estate mortgage Commercial investment – – – – – Owner occupied commercial – – – 897 – 1-4 family residential 14 14 14 14 1 Home equity - first lien – – – – – Home equity - junior lien – – – – – Subtotal: Real estate mortgage 14 14 14 911 1 Consumer – – – – – Subtotal $ 42 $ 42 $ 42 $ 2,786 $ 3 Total: Commercial and industrial $ 220 $ 735 $ 28 $ 2,012 2 Construction and development, excluding undeveloped land 318 489 – 437 – Undeveloped land 474 506 – 498 – Real estate mortgage Commercial investment 138 138 – 35 – Owner occupied commercial 586 1,023 – 2,400 – 1-4 family residential 774 774 14 1,256 1 Home equity - first lien – – – – – Home equity - junior lien 143 143 – 73 – Subtotal: Real estate mortgage 1,641 2,078 14 3,764 1 Consumer – – – 23 – Total $ 2,653 $ 3,808 $ 42 $ 6,734 3 (In thousands) Unpaid Average Interest Recorded principal Related recorded income December 31, 2017 investment balance allowance investment recognized Loans with no related allowance recorded: Commercial and industrial $ 1,142 $ 2,202 $ – $ 411 $ – Construction and development, excluding undeveloped land 664 834 – 559 – Undeveloped land 474 506 – 425 – Real estate mortgage Commercial investment 52 53 – 110 – Owner occupied commercial 3,332 3,789 – 1,678 – 1-4 family residential 1,637 1,657 – 935 – Home equity - first lien – – – – Home equity - junior lien 31 31 – 186 – Subtotal: Real estate mortgage 5,052 5,530 – 2,909 – Consumer – – – – Subtotal $ 7,332 $ 9,072 $ – $ 4,304 $ – Loans with an allowance recorded: Commercial and industrial $ 34 $ 34 $ 34 $ 1,882 78 Construction and development, excluding undeveloped land – – Undeveloped land – 48 – Real estate mortgage Commercial investment – – – – – Owner occupied commercial – – – – – 1-4 family residential 14 14 14 5 – Home equity - first lien – – – – – Home equity - junior lien – – – – – Subtotal: Real estate mortgage 14 14 14 5 – Consumer – – – 46 – Subtotal $ 48 $ 48 $ 48 $ 1,981 $ 78 Total: Commercial and industrial $ 1,176 $ 2,236 $ 34 $ 2,293 78 Construction and development, excluding undeveloped land 664 834 – 559 – Undeveloped land 474 506 – 473 – Real estate mortgage Commercial investment 52 53 – 110 – Owner occupied commercial 3,332 3,789 – 1,678 – 1-4 family residential 1,651 1,671 14 940 – Home equity - first lien – – – – – Home equity - junior lien 31 31 – 186 – Subtotal: Real estate mortgage 5,066 5,544 14 2,914 – Consumer – – – 46 – Total $ 7,380 $ 9,120 $ 48 $ 6,285 $ 78 Differences between recorded investment amounts and unpaid principal balance amounts less related allowance are due to partial charge-offs which have occurred over the life of loans and fair value adjustments recorded for loans acquired. Interest paid on impaired or non-accrual loans that was used to reduce principal was $93 $338 $307 2018, 2017 2016, $391 $159 $149 2018, 2017 2016, No 2018, 2017, 2016. Impaired loans include non-accrual loans and loans accounted for as troubled debt restructurings (TDRs), which continue to accrue interest. Non-performing loans include the balance of impaired loans plus any loans over 90 90 $745 $2 December 31, 2018 2017, The following table presents the recorded investment in non-accrual loans as of December 31, 2017 2016. December 31, (In thousands) 201 8 201 7 Commercial and industrial $ 192 $ 321 Construction and development, excluding undeveloped land 318 664 Undeveloped land 474 474 Real estate mortgage Commercial investment 138 52 Owner occupied commercial 586 3,332 1-4 family residential 760 1,637 Home equity - first lien – – Home equity - junior lien 143 31 Subtotal: Real estate mortgage 1,627 5,052 Consumer – – Total $ 2,611 $ 6,511 In the course of working with borrowers, Bancorp may not $42 $869 December 31, 2018 2017, No 2018 2016. Two 2017. $39 1 4 $12 $14 December 31, 2017. 2016 two one No 2016, 2017 2018 12 Loans accounted for as TDRs are individually evaluated for impairment. At December 31, 2018 $42 $48 December 31, 2017. December 31, 2018 2017, no December 31, 2018 $528 $62 December 31, 2017. The following table presents aging of the recorded investment in loans as of December 31, 2018 2017. Recorded (In thousands) 90 or more investment days past > 90 days 30-59 days 60-89 days due (includes) Total Total and December 31, 201 8 Current past due past due non-accrual) past due loans accruing Commercial and industrial $ 832,923 $ 197 $ 200 $ 204 $ 601 $ 833,524 $ 12 Construction and development, excluding undeveloped land 224,732 – – 318 318 225,050 – Undeveloped land 29,552 66 – 474 540 30,092 – Real estate mortgage Commercial investment 586,884 1,382 107 237 1,726 588,610 99 Owner occupied Commercial 421,143 2,732 1,377 1,121 5,230 426,373 535 1-4 family residential 274,547 374 336 760 1,470 276,017 – Home equity - first lien 49,321 179 – – 179 49,500 – Home equity - junior lien 70,467 182 56 242 480 70,947 99 Subtotal: Real estate mortgage 1,402,362 4,849 1,876 2,360 9,085 1,411,447 733 Consumer 48,058 – – – – 48,058 – Total $ 2,537,627 $ 5,112 $ 2,076 $ 3,356 $ 10,544 $ 2,548,171 $ 745 December 31, 201 7 Commercial and industrial $ 776,118 $ 2,571 $ 4 $ 321 $ 2,896 $ 779,014 $ – Construction and development, excluding undeveloped land 194,936 – 312 664 976 195,912 – Undeveloped land 18,514 – – 474 474 18,988 – Real estate mortgage Commercial investment 594,242 608 – 52 660 594,902 – Owner occupied commercial 394,623 455 275 3,332 4,062 398,685 – 1-4 family residential 259,994 172 307 1,637 2,116 262,110 – Home equity - first lien 56,938 172 – – 172 57,110 – Home equity - junior lien 63,667 87 194 33 314 63,981 2 Subtotal: Real estate mortgage 1,369,464 1,494 776 5,054 7,324 1,376,788 2 Consumer 38,699 86 83 – 169 38,868 – Total $ 2,397,731 $ 4,151 $ 1,175 $ 6,513 $ 11,839 $ 2,409,570 $ 2 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 include 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 a potential weakness that deserves 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 well-defined weaknesses that may not ● Substandard non-performing: Loans classified as substandard non-performing have deteriorated beyond the characteristics of substandard loans and have been placed on non-accrual status or have been accounted for as troubled debt restructurings. ● Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. As of December 31, 2018 2017, (In thousands) Substandard Total December 31, 201 8 Pass OAEM Substandard non-performing Doubtful loans Commercial and industrial $ 803,073 $ 11,516 $ 18,703 $ 232 $ – $ 833,524 Construction and development, excluding undeveloped land 220,532 4,200 – 318 – 225,050 Undeveloped land 29,618 – – 474 – 30,092 Real estate mortgage Commercial investment 586,543 1,815 15 237 – 588,610 Owner occupied commercial 411,722 9,030 4,500 1,121 – 426,373 1-4 family residential 273,537 1,544 162 774 – 276,017 Home equity - first lien 49,500 – – – – 49,500 Home equity - junior lien 70,437 249 19 242 – 70,947 Subtotal: Real estate mortgage 1,391,739 12,638 4,696 2,374 – 1,411,447 Consumer 48,058 – – – – 48,058 Total $ 2,493,020 $ 28,354 $ 23,399 $ 3,398 $ – $ 2,548,171 December 31, 201 7 Commercial and industrial $ 751,628 $ 12,032 $ 14,178 $ 1,176 $ – $ 779,014 Construction and development, excluding undeveloped land 195,248 – – 664 – 195,912 Undeveloped land 18,484 – 30 474 – 18,988 Real estate mortgage Commercial investment 591,232 3,599 19 52 – 594,902 Owner occupied Commercial 383,455 8,683 3,215 3,332 – 398,685 1-4 family residential 256,968 2,477 1,014 1,651 – 262,110 Home equity - first lien 57,110 – – – – 57,110 Home equity - junior lien 63,471 247 230 33 – 63,981 Subtotal: Real estate mortgage 1,352,236 15,006 4,478 5,068 – 1,376,788 Consumer 38,747 117 4 – – 38,868 Total $ 2,356,343 $ 27,155 $ 18,690 $ 7,382 $ – $ 2,409,570 |
Note 6 - Premises and Equipment
Note 6 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | ( 6 A summary of premises and equipment follows: December 31, (In thousands) 2018 2017 Land $ 9,664 $ 8,908 Buildings and improvements 47,726 45,285 Furniture and equipment 21,793 19,360 Construction in progress 1,051 1,496 80,234 75,049 Accumulated depreciation and amortization (35,470 ) (33,394 ) Total premises and equipment $ 44,764 $ 41,655 December 31, 2017 6 2017 10 $7,118, $47,924, $18,511 Depreciation expense related to premises and equipment was $3.7 2018, $3.5 2017 $3.2 2016. |
Note 7 - Other Assets
Note 7 - Other Assets | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | ( 7 A summary of major components of other assets follows: December 31, (In thousands) 201 8 201 7 Cash surrender value of life insurance other than BOLI $ 15,029 $ 16,213 Net deferred tax asset 10,193 9,206 Investments in income tax credit related ventures 4,537 3,216 Prepaid assets 3,072 2,856 Other short term receivables 1,939 2,215 Core deposit intangible 1,057 1,225 Mortgage servicing rights (MSRs) 1,022 875 OREO and other foreclosed property 1,018 2,640 Goodwill 682 682 Other 8,362 9,378 Total $ 46,911 $ 48,506 Bancorp maintains life insurance policies other than BOLI in conjunction with its non-qualified defined benefit retirement and non-qualified compensation plans. Mortgage servicing rights (MSRs) are initially recognized at fair value when mortgage loans are sold and 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 December 31, 2018 2017 $3.6 $3.1 $327.9 $344.5 December 31, 2018, 2017 Changes in the net carrying amount of MSRs are shown in the following table. (In thousands) 201 8 201 7 Balance at January 1 $ 875 $ 921 Originations 302 225 Amortization (155 ) (271 ) Balance at December 31 $ 1,022 $ 875 |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 8 Components of income tax expense (benefit) from operations were as follows: For years ended December 31, (In thousands) 201 8 201 7 201 6 Current income tax expense Federal $ 11,567 $ 12,622 $ 14,270 State 732 546 698 Total current income tax expense 12,299 13,168 14,968 Deferred income tax expense (benefit) Federal (52 ) 3,783 192 State (44 ) (4 ) 36 Total deferred income tax expense (benefit) (96 ) 3,779 228 Change in valuation allowance (172 ) 192 48 Total income tax expense $ 12,031 $ 17,139 $ 15,244 Components of income tax (benefit) expense recorded directly to stockholders’ equity were as follows: For years ended December 31, (In thousands) 201 8 201 7 201 6 Unrealized (loss) gain on securities available for sale $ (812 ) $ (531 ) $ (1,171 ) Reclassification adjustment for securities losses realized in income – 81 – Reclassification adjustment for securities impairment realized in income – – – Unrealized (loss) gain on derivatives 46 112 24 Minimum pension liability adjustment 46 (9 ) 1 Compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes – – (1,705 ) Total income tax (benefit) expense recorded directly to stockholders’ equity $ (720 ) $ (347 ) $ (2,851 ) An analysis of the difference between statutory and effective tax rates from operations follows: For years ended December 31, 201 8 201 7 201 6 U.S. federal income tax rate 21.0 % 35.0 % 35.0 % Tax credits (1.8 ) (14.4 ) (9.7 ) Stock based compensation (0.8 ) (2.6 ) – Net deferred tax asset remeasurement (0.5 ) 10.8 – Other, net (0.5 ) 0.9 0.3 Cash surrender value of life insurance (0.4 ) (1.5 ) (0.9 ) Tax exempt interest income (0.4 ) (1.2 ) (1.2 ) Amortization/impairment of investments in tax credit partnerships 0.4 3.4 2.8 State income taxes 0.8 0.7 0.8 Effective income tax rate 17.8 % 31.1 % 27.1 % Bancorp’s effective income tax rate decreased to 17.8% 2018 31.1% 2017. 35% 21% January 1, 2018, December 22, 2017. 2017 one $5.9 2017 The increase in effective tax rate from 2016 2017 one December 2017 $5.9 fourth 2017. 2017 2016 09 2017 $1.5 2016 09, 2016 $1.7 In December 2017, No. 118 118” not 118 not one The effects of temporary differences that gave rise to significant portions of deferred tax assets and deferred tax liabilities follows: December 31, (In thousands) 201 8 201 7 Deferred tax assets Allowance for loan and lease loss $ 5,567 $ 5,422 Deferred compensation 4,703 4,148 Accrued expenses 968 798 Securities 756 121 Investments in tax credit partnerships 543 565 Loans 434 442 Other assets 181 186 Write-downs and costs associated with OREO 7 39 Total deferred tax assets 13,159 11,721 Deferred tax liabilities Property and equipment 1,154 764 Loan costs 632 588 Leases 336 149 Other liabilities 267 260 Core deposit intangible 230 267 Mortgage servicing rights 193 161 Total deferred tax liabilities 2,812 2,189 Valuation allowance (154 ) (326 ) Net deferred tax asset $ 10,193 $ 9,206 A valuation allowance is recognized for a deferred tax asset if, based on the weight of available evidence, it is more likely than not not not December 31, 2018. Realization of deferred tax assets associated with investment in tax credit partnerships is dependent upon generating sufficient taxable capital gain income prior to their expiration. A valuation allowance of $154 $326 may December 31, 2018 2017, US GAAP provides guidance on financial statement recognition and measurement of tax positions taken, or expected to be taken, in tax returns. As December 31, 2018 2017, $ 29 may 2014. A reconciliation of the amount of unrecognized tax benefits follows: (In thousands) 201 8 201 7 Balance as of January 1 $ 40 $ 40 Increases - current year tax positions – 11 Increases - prior year tax positions – – Settlements – – Lapse of statute of limitations (11 ) (11 ) Balance as of December 31 $ 29 $ 40 |
Note 9 - Deposits
Note 9 - Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | ( 9 Composition of interest bearing deposits follows: December 31, (In thousands) 201 8 201 7 Interest bearing demand $ 892,867 $ 833,450 Savings 155,007 152,348 Money market 688,744 682,226 Time deposits of $250,000 or greater 55,182 38,439 Other time deposits 291,533 197,135 Total interest bearing deposits $ 2,083,333 $ 1,903,598 Interest expense related to certificates of deposit and other time deposits in denominations of $250 $431 $161 $231 December 31, 2018, 2017 2016. At December 31, 2018, 2019 $ 172,321 2020 123,832 2021 36,365 2022 6,429 2023 7,668 2024 and thereafter 100 Total time deposits $ 346,715 Deposits of directors and their associates, including deposits of companies for which directors are principal owners, and executive officers were $42.0 $28.5 December 31, 2018 2017, At December 31, 2018 2017, $886 $614 At December 31, 2018, $29.8 no December 31, 2017. |
Note 10 - Securities Sold Under
Note 10 - Securities Sold Under Agreements to Repurchase | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | ( 10 Securities sold under agreements to repurchase are a funding source of Bancorp and are primarily used by commercial customers in conjunction with collateralized corporate cash management accounts. Such repurchase agreements are considered financing agreements and mature within one December 31, 2018, Information concerning securities sold under agreements to repurchase is summarized as follows: (Dollars in thousands) 2018 2017 Average balance during the year $ 62,580 $ 70,187 Average interest rate during the year 0.25 % 0.19 % Maximum month-end balance during the year $ 74,725 $ 75,365 |
Note 11 - Advances From the Fed
Note 11 - Advances From the Federal Home Loan Bank | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | ( 11 Bancorp had outstanding borrowings of $48.2 December 31, 2018, fourteen two $30 $18.2 The following is a summary of the contractual maturities and average effective rates of outstanding advances: (In thousands) December 31, 201 8 December 31, 201 7 Year Advance Fixed Rate Advance Fixed Rate 2019 $ 30,000 2.54 % $ 30,000 1.48 % 2020 1,691 2.23 1,741 2.23 2021 215 2.12 288 2.12 2024 2,240 2.36 2,454 2.36 2025 4,626 2.42 5,149 2.42 2026 8,185 1.99 8,564 1.99 2028 1,220 1.49 1,262 1.49 Total $ 48,177 2.39 % $ 49,458 1.74 % Payments based on amortization schedules over the next five (In thousands) 2019 $ 31,420 2020 2,924 2021 1,298 2022 1,268 2023 1,297 2024 and beyond 9,970 In addition to fixed-rate advances listed above, at December 31, 2017, $150 first January 2018 No December 31, 2018. 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 views the borrowings as an effective alternative to brokered deposits to fund loan growth. At December 31, 2018, $537 $105 |
Note 12 - Other Comprehensive I
Note 12 - Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 12 The following table illustrates activity within the balances in accumulated other comprehensive income (loss) by component, and is shown for the years ended December 31, 2018, 2017, 2016. $506 2018 02 first 2018. 2018 02 2017 35% 21% January 1, 2018. 2017. 2018 02 Net unrealized Net unrealized Minimum gains (losses) gains (losses) pension on securities on cash liability (In thousands) available for sale flow hedges adjustment Total Balance at December 31, 2015 $ 965 $ (60 ) $ (273 ) $ 632 Other comprehensive (loss) income before reclassifications (2,176 ) 44 1 (2,131 ) Amounts reclassified from accumulated other comprehensive income – – – – Net current period other comprehensive (loss) income (2,176 ) 44 1 (2,131 ) Balance at December 31, 2016 $ (1,211 ) $ (16 ) $ (272 ) $ (1,499 ) Other comprehensive (loss) income before reclassifications (721 ) 209 (70 ) (582 ) Amounts reclassified from accumulated other comprehensive income 151 – – 151 Net current period other comprehensive (loss) income (570 ) 209 (70 ) (431 ) Balance at December 31, 2017 (1) $ (1,781 ) $ 193 $ (342 ) $ (1,930 ) Other comprehensive income (loss) before reclassifications (3,053 ) 174 173 (2,706 ) Amounts reclassified from accumulated other comprehensive income – – – – Net current period other comprehensive income (loss) (3,053 ) 174 173 (2,706 ) Reclassification adjustment for adoption of ASU 2018-02 (496 ) 41 (51 ) (506 ) Balance at December 31, 2018 $ (5,330 ) $ 408 $ (220 ) $ (5,142 ) ( 1 December 31, 2017 12 2017 10 2,278 $234, 392 The following table illustrates activity within the reclassifications out of accumulated other comprehensive income (loss), for the years ended December 31, 2018, 2017 2016. Details of accumulated Affected line item in o ther c omprehensive A mount reclassified from a ccumulated the c onsolidated i ncome ( l oss) c omponents o ther c omprehensive i ncome ( l oss) s tatements of i ncome For the years ended December 31, (In thousands) 2018 2017 2016 Unrealized gains (losses) on securities available for sale: Realized loss on sale of available for sale securities $ – $ (232 ) $ – Loss on sale of securities Effect of income taxes – 81 – Income tax expense Reclassifications, net of income taxes $ – $ (151 ) $ – |
Note 13 - Preferred Stock and C
Note 13 - Preferred Stock and Common Stock | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | ( 13 Bancorp has a class of preferred stock ( no 1,000,000 None At Bancorp’s 2015 20,000,000 40,000,000. |
Note 14 - Stock Split
Note 14 - Stock Split | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note, Stock Split [Text Block] | ( 14 On April 29, 2016 3 2 50% May 13, 2016, May 27, 2016 50% |
Note 15 - Net Income Per Share
Note 15 - Net Income Per Share and Common Stock Dividends | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 15 The following table reflects numerators (net income) and denominators (average shares outstanding) for basic and diluted net income per share computations: (In thousands, except per share data) 2018 2017 2016 Net income, basic and diluted $ 55,517 $ 38,043 $ 41,027 Average shares outstanding, basic 22,619 22,532 22,356 Effect of dilutive shares 325 451 436 Average shares outstanding including dilutive shares 22,944 22,983 22,792 Net income per share, basic $ 2.45 $ 1.69 $ 1.84 Net income per share, diluted $ 2.42 $ 1.66 $ 1.80 SARs of 146 $35.90 $40.00 December 31, 2018, not |
Note 16 - Employee Benefit Plan
Note 16 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ( 16 Bancorp has a combined employee stock ownership and profit sharing plan (“KSOP”). The plan is a defined contribution plan and is available to all employees meeting certain eligibility requirements. In general, for employees who work more than 1,000 6% 2% 2018, 2017, 2016 $2.2 $2.0 $1.9 December 31, 2018 2017, 568 577 In addition Bancorp has non-qualified plans into which directors and certain senior officers may $250 $232 $293 2018, 2017 2016 December 31, 2018 2017, $8.6 $8.2 Bancorp sponsors an unfunded non-qualified defined benefit retirement plan for three one two no 25 December 31 $ 2.1 December 31, 2018 December 31, 2017. December 31, 2018 2017. Benefits expected to be paid in each year from 2019 2023 (In thousands) 2019 $ 84 2020 84 2021 – 2022 – 2023 – Beyond 2023 3,278 Total future payments $ 3,446 Expected benefits to be paid are based on the same assumptions used to measure Bancorp’s benefit obligation at December 31, 2018. no |
Note 17 - Stock-based Compensat
Note 17 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ( 17 The fair value of all stock-based awards granted, net of estimated forfeitures, is recognized as compensation expense over the respective service period. Bancorp currently has one 2015 2005 2015 2018 500 December 31, 2018, 647 2005 April 2015. 2025. Bancorp had no December 31, 2018. 20% ten Restricted shares granted to officers vest over five 2015, 2015 Grants of performance stock units (“PSUs”) vest based upon a single three January 1 first not one 4.3%, 5.1% 4.5% 2018, 2017 2016 Grants of restricted stock units (“RSUs”) to directors are time-based and vest 12 Bancorp has recognized stock-based compensation expense for SARs, PSUs, and RSUs, within employee benefits for employees, and within other non-interest expense for directors, in the consolidated statements of income as follows: (In thousands) For years ended December 31, 201 8 201 7 201 6 Stock-based compensation expense before income taxes $ 4,027 $ 2,892 $ 2,473 Less: deferred tax benefit (846 ) (607 ) (866 ) Reduction of net income $ 3,181 $ 2,285 $ 1,607 Beginning in 2017 2016 09 2017, not 2017, $549 $1.5 2018 2017, not As of December 31, 2018 $5.2 five 2018 $154 $216 2017 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 the input of assumptions, changes to which can materially affect the fair value estimate. The following assumptions were used in SAR valuations at the grant date in each year: Assumptions 201 8 201 7 201 6 Dividend yield 2.56 % 2.72 % 2.94 % Expected volatility 20.17 % 19.47 % 19.31 % Risk free interest rate 2.96 % 2.29 % 1.70 % Expected life of SARs (in years) 7.0 7.0 7.3 Dividend yield and expected volatility are based on historical information for Bancorp corresponding to the expected life of SARs granted. Expected volatility is the volatility of underlying shares for the expected term calculated 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 awards. 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 years ended December 31, 2017 2018 Weighted Weighted Aggregate Weighted average Options average intrinsic average remaining and SARs Exercise exercise value fair contractual ( I n thousands) price price ( I n thousands) value life ( I n years) 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 Activity during 2017 SARs granted 46 40.00 - 40.00 40.00 – 6.34 Exercised (77 ) 14.02 - 17.89 15.41 1,855 3.18 Forfeited – – – – – At December 31, 2017 Vested and exercisable 490 14.02 - 33.08 16.46 10,408 3.16 4.0 Unvested 214 15.26 - 40.00 26.46 2,515 4.17 7.7 Total outstanding 704 14.02 - 40.00 19.51 12,923 3.47 5.1 Activity during 2018 SARs granted 100 35.90 - 39.32 37.75 – 6.07 Exercised (73 ) 14.02 - 19.37 15.32 1,654 3.43 Forfeited – – – – – At December 31, 2018 Vested and exercisable 492 14.02 - 40.00 17.69 7,505 3.21 3.8 Unvested 239 19.37 - 40.00 32.15 917 5.09 8.0 Total outstanding 731 14.02 - 40.00 22.42 8,422 3.82 5.2 Vested year-to-date 75 $15.26 - 40.00 $ 23.38 $ 776 $ 3.77 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. The aggregate intrinsic value of stock options and SARs exercised in 2018, 2017 2016 $1.7 $1.9 $4.2 The weighted average Black-Scholes fair values of SARs granted in 2018, 2017 2016 $6.07, $6.34 $3.56, SARs outstanding, stated in thousands, at December 31, 2018 Expiration Number of SARs outstanding SARs exercisable Weighted average exercise price of SARs outstanding 2019 24 24 $ 14.76 2020 44 44 14.02 2021 74 74 15.86 2022 117 117 15.25 2023 80 80 15.26 2024 83 64 19.37 2025 76 45 22.99 2026 88 35 25.84 2027 45 9 40.00 2028 100 – 37.75 731 492 $ 22.42 A summary of Bancorp granted shares of restricted common stock, for the three December 31, 2018, Grant date weighted- Number average value Unvested at December 31, 2015 156 $ 18.98 Shares awarded 51 25.78 Restrictions lapsed and shares released to employees/directors (49 ) 17.98 Shares forfeited (13 ) 20.69 Unvested at December 31, 2016 145 $ 21.57 Shares awarded 29 44.85 Restrictions lapsed and shares released to employees/directors (47 ) 19.79 Shares forfeited (8 ) 25.18 Unvested at December 31, 2017 119 $ 27.62 Shares awarded 40 35.89 Restrictions lapsed and shares released to employees/directors (44 ) 23.62 Shares forfeited (5 ) 31.35 Unvested at December 31, 2018 110 $ 32.09 Bancorp awarded performance-based restricted stock units (“PSUs”) to executive officers of Bancorp, the three January 1 Fair Vesting value at Expected Grant period grant shares to year in years date be awarded 2016 3 $ 22.61 69,161 2017 3 35.66 61,893 2018 3 31.54 50,352 In the first 2018, 6,525 $247 Bancorp has no not December 31, 2018. Plan category Number of shares to be issued upon exercise /vesting Weighted average exercise price Shares available for future issuance (a) Equity compensation plans approved by security holders: Stock appreciation rights (SARs) (b) (b) 647 Restricted common stock 110 N/A (a) Performance stock units (c) N/A (a) Restricted stock units 7 N/A (a) Total shares 117 647 (a) Under the 2015 (b) At December 31, 2018, 731 $22.42. (c) The number of shares to be issued is dependent upon Bancorp achieving certain predefined performance targets and ranges from zero 203 December 31, 2018, 181 |
Note 18 - Dividend
Note 18 - Dividend | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Restrictions on Dividends, Loans and Advances [Text Block] | ( 18 Bancorp’s principal source of cash revenue is dividends paid to it as the sole shareholder of the Bank. At any balance sheet date, the Bank’s regulatory dividend restriction represents the Bank’s net income of the current year plus the prior two December 31, 2018, may $84.4 |
Note 19 - Commitments and Conti
Note 19 - Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 19 As of December 31, 2018, not $834.6 $20.9 $688.3 $14.8 December 31, 2017. no not may December 31, 2018, $350 Standby letters of credit and financial guarantees written are conditional commitments issued by Bancorp to guarantee performance of a customer to a third one two Bancorp leases certain facilities under non-cancelable operating leases. Future minimum lease commitments for these leases, including presumed renewal periods, are outlined in the table below. (In thousands) Period Total amount One year or less $ 2,016 One to three years 3,918 Three to five years 3,953 After five years 13,349 Total $ 23,236 Rent expense, net of sublease income, was $2.0 2018, $1.9 2017, $1.8 2016. Certain commercial customers require confirmation of Bancorp’s letters of credit by other banks since Bancorp does not 1 11 December 31, 2018, $1.6 $1.6 No Also, as of December 31, 2018, not |
Note 20 - Assets and Liabilitie
Note 20 - Assets and Liabilities Measured and Reported at Fair Value | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | ( 20 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 2016 01, Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, January 1, 2018. no 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 These levels are: ● Level 1: ● Level 2: not ● Level 3: not Authoritative guidance requires maximization of use of observable inputs and minimization of 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 OREO may The portfolio of investment securities available for sale is comprised of U.S. Treasury and other U.S. government obligations, debt securities of U.S. government-sponsored corporations (including mortgage-backed securities), obligations of state and political subdivisions and corporate equity securities. U.S. Treasury and corporate equity securities are priced using quoted prices of identical securities in an active market. These measurements are classified as Level 1 2 Interest rate swaps are valued using primarily Level 2 not not 2018. Below are carrying values of assets measured at fair value on a recurring basis. (In thousands) Fair value at December 31, 2018 Assets Total Level 1 Level 2 Level 3 Investment securities available for sale: Government sponsored enterprise obligations 261,039 – 261,039 – Mortgage-backed securities - government agencies 146,277 – 146,277 – Obligations of states and political subdivisions 29,679 – 29,679 – Total investment securities available for sale 436,995 – 436,995 – Interest rate swaps 1,035 – 1,035 – Total assets $ 438,030 $ – $ 438,030 $ – Liabilities Interest rate swaps $ 543 $ – $ 543 $ – (In thousands) Fair value at December 31, 2017 Assets Total Level 1 Level 2 Level 3 Investment securities available for sale: U.S. Treasury and other U.S. government obligations $ 149,984 $ 149,984 $ – $ – Government sponsored enterprise obligations 213,844 – 213,844 – Mortgage-backed securities - government agencies 161,507 – 161,507 – Obligations of states and political subdivisions 49,189 – 49,189 – Total investment securities available for sale 574,524 149,984 424,540 – Interest rate swaps 579 – 579 – Total assets (1) $ 575,103 $ 149,984 $ 425,119 $ – Liabilities Interest rate swaps (1) $ 283 $ – $ 283 $ – ( 1 December 31, 2017 20 2017 10 $575,079, $425,095, $259, 2 Bancorp had no 3 December 31, 2018 2017. 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. December 31, 2018 2017 no not December 31, 2018 2017. 7 For impaired loans in the table below, fair value is calculated as carrying value of loans with a specific valuation allowance, less the specific allowance, and the carrying value of collateral dependent loans that have been charged down to their fair value. Fair value of impaired loans was primarily measured based on the value of collateral securing these loans. Impaired loans are classified within Level 3 may may may December 31, 2018, $967 $42 $925 $2.6 $48 $2.6 December 31, 2017. 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. December 31, 2018 2017, $1.0 $2.6 Below are carrying values of assets measured at fair value on a non-recurring basis. (In thousands) Fair value at December 31, 201 8 Total Level 1 Level 2 Level 3 Total losses Impaired loans $ 925 $ – $ – $ 925 $ (514 ) OREO 1,018 – – 1,018 (32 ) Total $ 1,943 $ – $ – $ 1,943 $ (546 ) (In thousands) Fair value at December 31, 201 7 Total Level 1 Level 2 Level 3 Total losses Impaired loans $ 2,569 $ – $ – $ 2,569 $ (121 ) OREO 2,640 – – 2,640 (171 ) Total $ 5,209 $ – $ – $ 5,209 $ (292 ) In the case of the securities portfolio, Bancorp monitors the valuation technique utilized by pricing agencies to ascertain when transfers between levels have occurred. The nature of the remaining assets and liabilities is such that transfers in and out of any level are expected to be rare. For the years ended December 31, 2018, 2017 2016, no 1, 2, 3. 3 December 31, 2018, Significant Weighted Carrying Valuation unobservable average of (Dollars in thousands) amount technique input input Impaired loans - collateral dependent $ 925 Appraisal Appraisal discounts (%) 9.9 % OREO 1,018 Appraisal Appraisal discounts (%) 12.2 |
Note 21 - Disclosure of Financi
Note 21 - Disclosure of Financial Instruments Not Reported at Fair Value | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 21 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 December 31, 201 8 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 198,939 $ 198,939 $ 198,939 $ – $ – Mortgage loans held for sale 1,675 1,743 – 1,743 – Federal Home Loan Bank stock and other securities 10,370 10,370 – 10,370 – Loans, net 2,522,637 2,508,587 – – 2,508,587 Accrued interest receivable 8,360 8,360 8,360 – – Financial liabilities Deposits 2,794,356 2,792,914 – – 2,792,914 Securities sold under agreement to repurchase 36,094 36,094 – 36,094 – Federal funds purchased 10,247 10,247 – 10,247 – FHLB Advances 48,177 47,227 – 47,227 – Accrued interest payable 762 762 762 – – December 31, 201 7 Financial assets Cash and short-term investments $ 139,248 $ 139,248 $ 139,248 $ – $ – Mortgage loans held for sale 2,964 2,964 – 2,964 – Federal Home Loan Bank stock and other securities 7,646 7,646 – 7,646 – Loans, net 2,384,685 2,338,464 – – 2,338,464 Accrued interest receivable 8,369 8,369 8,369 – – Financial liabilities Deposits 2,578,295 2,576,385 – – 2,576,385 Securities sold under agreement to repurchase 70,473 70,473 – 70,473 – Federal funds purchased 161,352 161,352 – 161,352 – FHLB Advances 49,458 48,642 – 48,642 – Accrued interest payable 232 232 232 – – 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 22 - Derivative Financial
Note 22 - Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ( 22 Periodically, Bancorp enters into an interest rate swap transaction with a borrower, who desires to hedge 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 the undesignated interest rate swap agreements for 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 December 31, 2018 2017 (Dollar amounts in thousands) Receiving Paying December 31, December 31, December 31, December 31, 201 8 201 7 201 8 201 7 Notional amount $ 55,505 $ 54,964 $ 55,505 $ 54,964 Weighted average maturity (years) 8.0 8.7 8.0 8.7 Fair value $ 519 $ 259 $ 543 $ 283 In 2016, $10 three December 2016 December 2021. 2015, $20 three December 2015 December 2020. The following table details Bancorp’s derivative position designated as a cash flow hedge, and the fair values as of December 31, 2018 2017. (Dollars in thousands) Notional Maturity Receive (variable) Pay fixed Fair value Fair value amount date index swap rate December 31, 201 8 December 31, 201 7 $ 10,000 12/6/2021 US 3 Month LIBOR 1.89 % $ 193 $ 106 20,000 12/6/2020 US 3 Month LIBOR 1.79 323 190 $ 30,000 1.82 % $ 516 $ 296 |
Note 23 - Regulatory Matters
Note 23 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 23 Bancorp and the Bank are subject to various capital requirements prescribed by banking regulations and administered by state and federal banking agencies. Under these requirements, Bancorp and the Bank must meet minimum amounts and percentages of Tier 1, 1, 1 may In 2013, January 1, 2015, one December 31, 2018 2017. The following table sets forth consolidated Bancorp’s and the Bank’s risk based capital amounts and ratios as of December 31, 2018 2017: (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 201 8 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital Consolidated $ 396,019 13.91 % $ 227,714 8.0 % NA NA Bank 385,637 13.56 227,462 8.0 $ 284,327 10.0 % Common Equity Tier 1 risk-based capital Consolidated 370,135 13.00 128,089 4.5 NA NA Bank 359,753 12.65 127,947 4.5 184,813 6.5 Tier 1 risk-based capital Consolidated 370,135 13.00 170,785 6.0 NA NA Bank 359,753 12.65 170,596 6.0 227,462 8.0 Leverage (1) Consolidated 370,135 11.33 130,698 4.0 NA NA Bank 359,753 11.02 130,569 4.0 163,211 5.0 Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 201 7 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital Consolidated $ 359,866 13.52 % $ 213,012 8.0 % NA NA Bank 347,840 13.07 212,891 8.0 $ 266,114 10.0 % Common Equity Tier 1 risk-based capital Consolidated 334,631 12.57 119,820 4.5 NA NA Bank 322,605 12.12 212,891 4.5 172,974 6.5 Tier 1 risk-based capital Consolidated 334,631 12.57 159,760 6.0 NA NA Bank 322,605 12.12 159,668 6.0 212,891 8.0 Leverage (1) Consolidated 334,631 10.70 125,122 4.0 NA NA Bank 322,605 10.32 125,040 4.0 156,300 5.0 Ratio is computed in relation to risk-weighted assets. ( 1 NA – Not not |
Note 24 - Stock Yards Bancorp,
Note 24 - Stock Yards Bancorp, Inc. (Parent Company Only) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ( 24 Condensed Balance Sheets December 31, (In thousands) 201 8 201 7 Assets Cash on deposit with subsidiary bank $ 7,655 $ 10,648 Investment in and receivable from subsidiaries 356,118 321,617 Other assets 3,147 1,521 Total assets $ 366,920 $ 333,786 Liabilities and stockholders ’ equity Other liabilities $ 420 $ 142 Total stockholders’ equity 366,500 333,644 Total liabilities and stockholders ’ equity $ 366,920 $ 333,786 Condensed Statements of Income Years ended December 31, (In thousands) 201 8 201 7 201 6 Income - dividends and interest from subsidiaries $ 21,403 $ 18,160 $ 16,147 Other income 12 82 1 Less expenses 4,818 3,255 2,235 Income before income taxes and equity in undistributed net income of subsidiary 16,597 14,987 13,913 Income tax benefit (1,713 ) (1,985 ) (987 ) Income before equity in undistributed net income of subsidiary 18,310 16,972 14,900 Equity in undistributed net income of subsidiary 37,207 21,071 26,127 Net income 55,517 38,043 41,027 Comprehensive Income $ 52,811 $ 37,612 $ 38,896 Condensed Statements of Cash Flows Years ended December 31 (In thousands) 201 8 201 7 201 6 Operating activities Net income $ 55,517 $ 38,043 $ 41,027 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (37,207 ) (21,071 ) (26,127 ) Gain on sale of fixed assets (10 ) – – Stock compensation expense 4,027 2,892 2,473 Excess tax benefits from stock-based compensation arrangements (549 ) (1,463 ) (1,705 ) Recover of impairment loss on other assets held for investment – – (588 ) Depreciation, amortization and accretion, net – 4 10 Proceeds from liquidation of private investment fund – (81 ) – Decrease (increase) in other assets (1,080 ) 5,943 (990 ) Increase in other liabilities 220 10 11 Net cash provided by operating activities 20,918 24,277 14,111 Investing activities Proceeds from sale of other assets held for investment – – 1,108 Proceeds from sale of fixed assets 13 – – Proceeds from liquidation of private investment fund – 81 – Net cash provided by investing activities 13 81 1,108 Financing activities Common stock repurchases (2,004 ) (2,389 ) 2,337 Excess tax benefit from stock-based compensation arrangements – – 1,705 Cash used for settlement of stock awards (154 ) (216 ) (1,918 ) Cash dividends paid (21,766 ) (18,077 ) (16,093 ) Net cash used in financing activities (23,924 ) (20,682 ) (13,969 ) Net increase (decrease) in cash (2,993 ) 3,676 1,250 Cash at beginning of year 10,648 6,972 5,722 Cash at end of year $ 7,655 $ 10,648 $ 6,972 |
Note 25 - Segments
Note 25 - Segments | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | ( 25 Bancorp’s principal activities include commercial banking and WM&T. Commercial banking provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and investment product sales. WM&T provides 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 have been allocated to the commercial banking segment. Measurement of the performance of the 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 follows: Wealth Commercial management (In thousands) banking and trust Total Year ended December 31, 201 8 Net interest income $ 114,161 $ 255 $ 114,416 Provision 2,705 – 2,705 Investment management and trust services – 21,536 21,536 All other non-interest income 23,810 – 23,810 Non-interest expense 76,963 12,546 89,509 Income before income taxes 58,303 9,245 67,548 Income tax expense 10,025 2,006 12,031 Net income $ 48,278 $ 7,239 $ 55,517 Segment assets $ 3,301,108 $ 1,816 $ 3,302,924 Year ended December 31, 201 7 Net interest income $ 103,352 $ 301 $ 103,653 Provision 2,550 – 2,550 Investment management and trust services – 20,505 20,505 All other non-interest income 23,994 – 23,994 Non-interest expense 78,181 12,239 90,420 Income before income taxes 46,615 8,567 55,182 Income tax expense 14,080 3,059 17,139 Net income $ 32,535 $ 5,508 $ 38,043 Segment assets $ 3,237,656 $ 1,990 $ 3,239,646 Year ended December 31, 2016 Net interest income $ 97,021 $ 268 $ 97,289 Provision 3,000 – 3,000 Investment management and trust services – 19,155 19,155 All other non-interest income 23,765 – 23,765 Non-interest expense 69,648 11,290 80,938 Income before income taxes 48,138 8,133 56,271 Income tax expense 12,340 2,904 15,244 Net income $ 35,798 $ 5,229 $ 41,027 Segment assets $ 3,037,394 $ 2,087 $ 3,039,481 |
Note 26 - Quarterly Operating R
Note 26 - Quarterly Operating Results (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | ( 26 Following is a summary of quarterly operating results for 2018, 2017 2016: 201 8 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 35,004 $ 33,021 $ 32,004 $ 29,744 Interest expense 5,092 4,500 3,330 2,435 Net interest income 29,912 28,521 28,674 27,309 Provision - 735 1,235 735 Net interest income after provision 29,912 27,786 27,439 26,574 Non-interest income 11,576 11,426 11,435 10,909 Non-interest expenses 24,565 21,781 22,136 21,027 Income before income taxes 16,923 17,431 16,738 16,456 Income tax expense 2,265 3,555 3,159 3,052 Net income $ 14,658 $ 13,876 $ 13,579 $ 13,404 Basic earnings per share $ 0.65 $ 0.61 $ 0.60 $ 0.59 Diluted earnings per share 0.64 0.60 0.59 0.58 201 7 (In thousands, except per share data) 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 29,098 $ 28,120 $ 27,026 $ 26,655 Interest expense 2,069 1,947 1,781 1,449 Net interest income 27,029 26,173 25,245 25,206 Provision 900 150 600 900 Net interest income after provision 26,129 26,023 24,645 24,306 Non-interest income 11,407 10,945 11,525 10,622 Non-interest expenses 27,048 21,168 21,209 20,995 Income before income taxes 10,488 15,800 14,961 13,933 Income tax expense 5,542 4,096 4,359 3,142 Net income $ 4,946 $ 11,704 $ 10,602 $ 10,791 Basic earnings per share $ 0.22 $ 0.52 $ 0.47 $ 0.48 Diluted earnings per share 0.22 0.51 0.46 0.47 2016 (In thousands, except per share data) 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 26,372 $ 25,944 $ 25,169 $ 24,722 Interest expense 1,293 1,182 1,212 1,231 Net interest income 25,079 24,762 23,957 23,491 Provision 500 1,250 750 500 Net interest income after provision 24,579 23,512 23,207 22,991 Non-interest income 11,165 11,202 10,629 9,924 Non-interest expenses 21,119 20,364 20,051 19,404 Income before income taxes 14,625 14,350 13,785 13,511 Income tax expense 4,009 3,883 3,676 3,676 Net income $ 10,616 $ 10,467 $ 10,109 $ 9,835 Basic earnings per share $ 0.47 $ 0.47 $ 0.45 $ 0.44 Diluted earnings per share 0.46 0.46 0.45 0.44 Note: The sum of earnings per share of each of the quarters in 2018, 2017 2016 may not |
Note 27 - Revenue From Contract
Note 27 - Revenue From Contracts With Customers | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 2 7 ) Revenue from contracts with customers Bancorp adopted Accounting Standards Update (ASU) 2014 09, 606 January 1, 2018 606 December 31, 2018, 2017, 2016 606 Revenue by operating segment Years ended December 31, (In thousands, except per share data) 2018 2017 2016 Wealth Management and Trust Wealth management and trust services $ 21,536 $ 20,505 $ 19,155 Commercial Deposit service charges 5,759 6,172 6,037 Debit and credit cards 6,769 5,979 5,655 Treasury management 4,571 4,297 3,867 Mortgage banking (1) 2,568 3,221 3,897 (Loss) on sale of securities available for sale (1) – (232 ) – Net investment product sales commissions and fees 1,677 1,629 1,563 Bank owned life insurance (1) 1,129 1,159 871 Other (2) 1,337 1,769 1,875 Total Commercial non-interest income 23,810 23,994 23,765 Total non-interest income $ 45,346 $ 44,499 $ 42,920 ( 1 Not 606 ( 2 $177 $165 $168 606 2018, 2017, 2016, Revenue sources within the scope of ASC 606 The Company earns fees from its deposit customers for transactions-based, account management, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payments fees, and ACH fees, are recognized at the time the transaction is executed as that is when the company fulfills the performance obligation. Account management fees are earned over the course of a month and charged in the month in which the services are provided. Overdraft fees are recognized at the point in time that the overdraft occurs. Deposit service charges are withdrawn from customer’s account balances. Treasury management transaction fees are recognized at the time the transaction is executed as that is when the company fulfills the performance obligation. Account management fees are earned over the course of a month and charged in the month in which the services are provided. Treasury management fees are withdrawn from customer’s account balances. The Wealth Management and Trust Group provides customers fiduciary and investment management services as agreed upon in asset management contracts. Contracts require WM&T to provide a series of distinct services for which fees are earned over time. Contracts are cancellable upon demand with fees typically based upon the asset value of investments. Revenue is accrued and recognized monthly based upon month-end asset values and collected from the customer predominately in the following month except for a small percentage of fees collected quarterly. Contracts between WM&T and clients do not none Investment products sales commissions and fees represent the Bank’s share of transaction fees and wrap fees resulting from investment services and programs provided through an agent relationship with a third Debit and credit card interchange revenue represents fees assessed within the payment card system for acceptance of card based transactions. Interchange fees are assessed as the performance obligation is satisfied, which is at the point in time the card transaction is authorized. Revenue is collected and recognized daily through the payment network settlement process. Bancorp did not 606, 2018. December 31, 2018 $1.9 $2.2 December 31, 2017. Bancorp’s revenue on the consolidated statement of income is categorized by product type, which effectively depicts how the nature, timing, and extent of cash flows are affected by economic factors. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation and Nature of Operations The consolidated financial statements include accounts of Stock Yards Bancorp, Inc. (“Bancorp”) and its wholly owned subsidiary, Stock Yards Bank & Trust Company (“the Bank”). Significant intercompany transactions and accounts have been eliminated in consolidation. Certain prior year amounts have been reclassified to conform to 2018 none. In addition to traditional commercial and personal banking activities, Bancorp has a wealth management and trust department offering a wide range of investment management, retirement planning, trust and estate administration and financial planning services. Bancorp’s primary market area is Louisville, Kentucky and surrounding communities including southern Indiana. Other markets include Indianapolis, Indiana and Cincinnati, Ohio. |
Basis of Financial Presentation and Use of Estimates [Policy Text Block] | Basis of Financial Statement Presentation and Use of Estimates The consolidated financial statements of Bancorp and its subsidiary have been prepared in conformity with U.S. generally accepted accounting principles (“US GAAP”) and conform to predominant practices within the banking industry. In preparing the 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 particularly susceptible to significant change relate to determination of the allowance, and income tax assets, liabilities and expense. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents and Cash Flows Cash and cash equivalents include cash and due from banks, federal funds sold and interest bearing due from banks as segregated in the accompanying consolidated balance sheets. The following supplemental cash flow information addresses certain cash payments and noncash transactions for each of the years in the three December 31, 2018 (In thousands) Years ended December 31, 201 8 201 7 201 6 Cash payments: Income tax payments $ 7,227 $ 15,838 $ 12,860 Cash paid for interest 14,827 7,158 4,901 Non-cash transactions: Transfers from loans to OREO $ 2,170 $ – $ 1,916 |
Investment, Policy [Policy Text Block] | Securities All of Bancorp’s debt securities are available for sale. Equity securities, if held, are carried at fair value with changes in fair value recorded in net income. Securities available for sale include securities that may 1 2 not 3 not not not not not 4 |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Mortgage Loans Held for Sale Mortgage loans held for sale are initially recorded at the lower of cost or market value on an individual loan basis. The sales prices of all of these loans are covered by investor commitments. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans Loans are stated at the unpaid principal balance plus deferred loan origination fees, net of deferred loan costs. Loan fees, net of any costs, are deferred and amortized over the life of the related loan on an effective yield basis. Interest income on loans is recorded on the accrual basis except for those loans in a non-accrual income status. Loans are placed in a non-accrual income 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 not No may not no not six Loans are classified as impaired when it is probable Bancorp will be unable to collect interest and principal according to terms of the loan agreement. These loans are measured at the estimated fair value of the loans’ collateral, if applicable, or on the present value of future cash flows discounted at the loans’ effective interest rate. Impaired loans consist of loans in non-accrual status and loans accounted for as troubled debt restructuring. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for loan and lease losses The allowance 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 uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Bancorp’s allowance methodology is driven by risk ratings, historical losses, and qualitative factors. Assumptions include many factors such as changes in borrowers’ financial condition or historical loss ratios related to certain loan portfolios which may may not first 2018, 28 32 not 32 $1.3 28 March 31, 2018. Bancorp’s allowance calculation includes allocations to loan portfolio segments for qualitative factors including, among other factors, local economic and business conditions, the quality and experience of lending staff and management, exceptions to lending policies, levels of and trends in past due loans and loan classifications, concentrations of credit such as collateral type, trends in portfolio growth, trends in the value of underlying collateral for collateral-dependent loans, effect of other external factors such as the national economic and business trends, and the quality and depth of the loan review function. Bancorp utilizes the sum of all allowance amounts derived as described above as the appropriate level of allowance. Changes in the criteria used in this evaluation or the availability of new information could cause the allowance to be increased or decreased in future periods. Based on this quantitative and qualitative analysis, provisions (reductions) are made to the allowance. Such provisions (reductions) are reflected as a charge against (benefit to) current earnings in Bancorp’s consolidated statements of income. The adequacy of the allowance is monitored by executive management and reported quarterly to the Audit Committee of the Board of Directors. This committee has approved the overall methodology. Various regulatory agencies, as an integral part of their examination process, periodically review the adequacy of Bancorp’s allowance. Such agencies may The accounting policy related to the allowance is applicable to the commercial banking segment of Bancorp. |
Certain Loans and Debt Securities Acquired in Transfer, Recognizing Interest Income on Impaired Loans, Policy [Policy Text Block] | Acquired loans Bancorp acquired loans in 2013 3 Acquired loans that had evidence of deterioration in credit quality since origination and for which it was probable, at acquisition, that Bancorp would be unable to collect all contractually required payments were specifically identified and analyzed. The excess of cash flows expected at acquisition over the estimated fair value is referred to as accretable discount and is recognized as interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as non-accretable discount. Subsequent decreases to the expected cash flows require Bancorp to evaluate the need for an allowance for loan losses on these loans. Charge-offs of the principal amount on credit-impaired acquired loans would be first may For acquired loans that are not |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Premises and equipment are carried at cost, less accumulated depreciation and amortization. Depreciation of premises and equipment is computed using straight-line methods over the estimated useful lives of the assets ranging from 3 40 |
Other Assets [Policy Text Block] | Other Assets Bank owned life insurance (“BOLI”) is carried at net realizable value, which considers applicable surrender charges. Also, Bancorp maintains life insurance policies in conjunction with its non-qualified defined benefit and non-qualified compensation plans. Other real estate is carried at the lower of cost or estimated fair value minus estimated selling costs. Any write downs to fair value at the date of acquisition are charged to the allowance. In certain situations, improvements to prepare assets for sale are capitalized if those costs increase the estimated fair value of the asset. Expenses incurred in maintaining assets, write downs to reflect subsequent declines in value, and realized gains or losses are reflected in operations and are included in non-interest income and expense. Mortgage servicing rights (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 the carrying value to fair value. Goodwill is measured and evaluated at least annually for impairment. No |
Repurchase and Resale Agreements Policy [Policy Text Block] | Securities Sold Under Agreements to Repurchase Bancorp enters into sales of securities under agreement to repurchase. Such repurchase agreements are considered financing agreements, and mature within one |
Income Tax, Policy [Policy Text Block] | Income Taxes Bancorp accounts for income taxes using the asset and liability method. The objective of the asset and liability method is to establish deferred tax assets and liabilities for temporary differences between the financial reporting and the tax bases of Bancorp’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of income in the period that includes the enactment date. The Tax Cuts and Jobs Act was enacted on December 22, 2017 35% 21% January 1, 2018, $5.9 fourth 2017. Bancorp periodically invests in certain partnerships with customers that yield historic tax credits, which are accounted for using the flow through method, which approximates the equity method, and/or low-income housing tax credits as well as tax deductible losses, which are accounted for using the effective yield method for older transactions or proportional amortization method for more recent transactions. The tax benefit of these investments exceeds amortization/impairment expense associated with them, resulting in a positive impact on net income. Realization of deferred tax assets associated with the investment in partnerships is dependent upon generating sufficient taxable capital gain income prior to their expiration. A valuation allowance to reflect management’s estimate of the temporary deductible differences that may 2018 2017. To the extent unrecognized income tax benefits become realized or the related accrued interest is no December 31, 2018, $29 $40 December 31, 2017, 8 may Bancorp’s policy is to report interest and penalties, if any, related to unrecognized tax benefits in income tax expense. As of December 31, 2018 2017, |
Earnings Per Share, Policy [Policy Text Block] | Net Income Per Share Basic net income per common share is determined by dividing net income by the weighted average number of shares of common stock outstanding. Diluted net income per share is determined by dividing net income by the weighted average number of shares of common stock outstanding plus the weighted average number of shares that would be issued upon exercise of dilutive options and stock appreciation rights, assuming proceeds are used to repurchase shares under the treasury stock method. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income is defined as the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. For Bancorp, this includes net income, changes in unrealized gains and losses on available for sale investment securities and cash flow hedging instruments, net of reclassification adjustments and taxes, and minimum pension liability adjustments, net of taxes. |
Segment Reporting, Policy [Policy Text Block] | Segment Information Bancorp provides a broad range of financial services to individuals, corporations and others through its 38 December 31, 2018. two |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation For all awards, stock-based compensation expense is recognized over the period in which it is earned based on the grant-date fair value of the portion of stock-based payment awards that are ultimately expected to vest, reduced for estimated forfeitures. US GAAP requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. |
Derivatives, Policy [Policy Text Block] | Derivatives Bancorp uses derivative financial instruments as part of its interest rate risk management, including interest rate swaps. US GAAP establishes accounting and reporting standards for derivative instruments and hedging activities. As required by US GAAP, Bancorp’s interest rate swaps are recognized as other assets and liabilities in the consolidated balance sheet at fair value. Accounting for changes in fair value of derivatives depends on the intended use of the derivative and the resulting designation. Derivatives used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. To qualify for hedge accounting, Bancorp must comply with detailed rules and documentation requirements at inception of the hedge, and hedge effectiveness is assessed at inception and periodically throughout the life of each hedging relationship. Hedge ineffectiveness, if any, is measured periodically throughout the life of the hedging relationship. For derivatives designated as cash flow hedges, the effective portion of changes in fair value of the derivative is initially reported in other comprehensive income and subsequently reclassified to interest income or expense when the hedged transaction affects earnings, while the ineffective portion of changes in fair value of derivative, if any, is recognized immediately in other noninterest income. Bancorp assesses effectiveness of each hedging relationship by comparing cumulative changes in cash flows of the derivative hedging instrument with cumulative changes in cash flows of the designated hedged item or transaction. No Periodically, Bancorp enters into an interest rate swap transaction with a borrower, who desires to hedge 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. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition have an insignificant effect on earnings. Because these derivative instruments have not Bancorp had no December 31, 2018 2017. not 22 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements Accounting Standards Update (ASU) 2014 09, Revenue – Revenue from Contracts with Customers 2014 09 606 January 1, 2018 606. not 2014 09. not no 606 20 The only impact to financial statement presentation was reclassification from expense to contra income costs incurred to obtain and fulfill contracts associated with investment product sales. All periods presented in these financial statements have been adjusted to reflect the reclassification, the effect of which can be seen below. For years ended December 31, (In thousands) 2018 2017 2016 Non-interest income Investment product sales commissions and fees under legacy GAAP $ 2,224 $ 2,200 $ 2,145 Less variable costs (547 ) (571 ) (582 ) Net investment product sales commissions and fees reported 1,677 1,629 1,563 Non-interest expense Compensation under legacy GAAP 46,107 42,584 40,817 Less variable costs reclassified above (3 ) (3 ) (3 ) Compensation expense as reported 46,104 42,581 40,814 Technology and communication expense under legacy GAAP 9,441 8,525 7,619 Less variable costs reclassified above (544 ) (568 ) (579 ) Technology and communication expense as reported 8,897 7,957 7,040 Net impact $ - $ - $ - ASU 2016 01, Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. 2016 01 January 1, 2018. no 21. ASU 2018 02, Income Statement Reporting Comprehensive Income (Topic 220 2018 02 first 2018. December 22, 2017 $506 Recently Issued Accounting Pronouncements February 2016, No. 2016 02, Leases December 15, 2018. first 2019 $16.6 $17.9 first 2019. not 2016 02. 2016 02. ASU 2018 10, Codification Improvements to Topic 842: ASU 2018 11, Leases (Topic 842 may In June 2016, 2016 13, Measurement of Credit Losses on Financial Instruments not not December 15, 2019. one first 2020. December 2018 three In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 no December 15, 2019. may January 1, 2017. not In August 2017, 2017 12, Derivatives and Hedging (Topic 815 815. December 15, 2018. not In June 2018, 2018 07, Compensation-Stock Compensation (Topic 718 718 December 15, 2019, December 15, 2020. not In October 2018, 2018 16, Derivatives and Hedging (Topic 815 not December 15, 2018. |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | (In thousands) Years ended December 31, 201 8 201 7 201 6 Cash payments: Income tax payments $ 7,227 $ 15,838 $ 12,860 Cash paid for interest 14,827 7,158 4,901 Non-cash transactions: Transfers from loans to OREO $ 2,170 $ – $ 1,916 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | For years ended December 31, (In thousands) 2018 2017 2016 Non-interest income Investment product sales commissions and fees under legacy GAAP $ 2,224 $ 2,200 $ 2,145 Less variable costs (547 ) (571 ) (582 ) Net investment product sales commissions and fees reported 1,677 1,629 1,563 Non-interest expense Compensation under legacy GAAP 46,107 42,584 40,817 Less variable costs reclassified above (3 ) (3 ) (3 ) Compensation expense as reported 46,104 42,581 40,814 Technology and communication expense under legacy GAAP 9,441 8,525 7,619 Less variable costs reclassified above (544 ) (568 ) (579 ) Technology and communication expense as reported 8,897 7,957 7,040 Net impact $ - $ - $ - |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | (In thousands) Amortized Unrealized Fair December 31, 201 8 cost Gains Losses value Government sponsored enterprise obligations $ 264,234 $ 156 $ (3,351 ) $ 261,039 Mortgage-backed securities - government agencies 149,748 282 (3,753 ) 146,277 Obligations of states and political subdivisions 29,760 107 (188 ) 29,679 Total securities available for sale $ 443,742 $ 545 $ (7,292 ) $ 436,995 (In thousands) Amortized Unrealized Fair December 31, 201 7 cost Gains Losses value U.S. Treasury and other U.S. government obligations $ 149,996 $ – $ (12 ) $ 149,984 Government sponsored enterprise obligations 214,852 474 (1,482 ) 213,844 Mortgage-backed securities - government agencies 163,571 383 (2,447 ) 161,507 Obligations of states and political subdivisions 48,987 365 (163 ) 49,189 Total securities available for sale $ 577,406 $ 1,222 $ (4,104 ) $ 574,524 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (In thousands) Securities available for sale Amortized cost Fair value Due within 1 year $ 120,523 $ 120,239 Due after 1 but within 5 years 64,141 63,260 Due after 5 but within 10 years 8,059 7,899 Due after 10 years 101,271 99,320 Mortgage-backed securities - government agencies 149,748 146,277 Total securities available for sale $ 443,742 $ 436,995 |
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 December 31, 201 8 value losses value losses value losses Government sponsored enterprise obligations $ 96,740 $ (38 ) $ 149,320 $ (3,313 ) $ 246,060 $ (3,351 ) Mortgage-backed securities - government agencies 3,108 (5 ) 120,848 (3,748 ) 123,956 (3,753 ) Obligations of states and political subdivisions 814 (1 ) 17,639 (187 ) 18,453 (188 ) Total temporarily impaired securities $ 100,662 $ (44 ) $ 287,807 $ (7,248 ) $ 388,469 $ (7,292 ) December 31, 201 7 U.S. Treasury and U.S. obligations $ 149,984 $ (12 ) $ – $ – $ 149,984 $ (12 ) Government sponsored enterprise obligations 95,139 (586 ) 49,870 (896 ) 145,009 (1,482 ) Mortgage-backed securities - government agencies 69,290 (440 ) 67,047 (2,007 ) 136,337 (2,447 ) Obligations of states and political subdivisions 22,366 (107 ) 5,064 (56 ) 27,430 (163 ) Total temporarily impaired securities $ 336,779 $ (1,145 ) $ 121,981 $ (2,959 ) $ 458,760 $ (4,104 ) |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, (In thousands) 201 8 201 7 Commercial and industrial $ 833,524 $ 779,014 Construction and development, excluding undeveloped land 225,050 195,912 Undeveloped land 30,092 18,988 Real estate mortgage: Commercial investment 588,610 594,902 Owner occupied commercial 426,373 398,685 1-4 family residential 276,017 262,110 Home equity - first lien 49,500 57,110 Home equity - junior lien 70,947 63,981 Subtotal: Real estate mortgage 1,411,447 1,376,788 Consumer 48,058 38,868 Total loans $ 2,548,171 $ 2,409,570 |
Schedule of Loans and Leases Receivable, Related Parties [Table Text Block] | (In thousands) Year ended December 31, Loans to directors and executive officers 201 8 201 7 Balance as of January 1 $ 629 $ 969 Effect of changes in composition of directors and executive officers 51,415 – Repayment of term loans – (175 ) Changes in balances of revolving lines of credit 643 (165 ) Balance as of December 31 $ 52,687 $ 629 |
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 December 31, 201 8 industrial land land mortgage Consumer Total Loans $ 833,524 $ 225,050 $ 30,092 $ 1,411,447 $ 48,058 $ 2,548,171 Loans individually evaluated for impairment $ 220 $ 318 $ 474 $ 1,641 $ – $ 2,653 Loans collectively evaluated for impairment $ 833,304 $ 224,732 $ 29,618 $ 1,409,806 $ 48,058 $ 2,545,518 Loans acquired with deteriorated credit quality $ – $ – $ – $ – $ – $ – Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Total Allowance for loan and lease losses At December 31, 2017 $ 11,276 $ 1,724 $ 521 $ 11,012 $ 352 $ 24,885 Provision (credit) 2,539 36 231 (261 ) 160 2,705 Charge-offs (2,404 ) – – (132 ) (476 ) (3,012 ) Recoveries 554 – – 62 340 956 At December 31, 2018 $ 11,965 $ 1,760 $ 752 $ 10,681 $ 376 $ 25,534 Allowance for loans individually evaluated for impairment $ 28 $ – $ – $ 14 $ – $ 42 Allowance for loans collectively evaluated for impairment $ 11,937 $ 1,760 $ 752 $ 10,667 $ 376 $ 25,492 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, 2017 industrial land land mortgage Consumer Total Loans $ 779,014 $ 195,912 $ 18,988 $ 1,376,788 $ 38,868 $ 2,409,570 Loans individually evaluated for impairment $ 1,176 $ 664 $ 474 $ 5,066 $ – $ 7,380 Loans collectively evaluated for impairment $ 777,838 $ 195,248 $ 18,514 $ 1,371,246 $ 38,868 $ 2,401,714 Loans acquired with deteriorated credit quality $ – $ – $ – $ 476 $ – $ 476 Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Total Allowance for loan and lease losses At December 31, 2016 $ 10,483 $ 1,923 $ 684 $ 10,573 $ 344 $ 24,007 Provision (credit) 2,373 (199 ) (163 ) 383 156 2,550 Charge-offs (1,782 ) – – (98 ) (549 ) (2,429 ) Recoveries 202 – – 154 401 757 At December 31, 2017 $ 11,276 $ 1,724 $ 521 $ 11,012 $ 352 $ 24,885 Allowance for loans individually evaluated for impairment $ 34 $ – $ – $ 14 $ – $ 48 Allowance for loans collectively evaluated for impairment $ 11,242 $ 1,724 $ 521 $ 10,998 $ 352 $ 24,837 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 individually evaluated for impairment $ 2,682 $ 538 $ 474 $ 2,516 $ 59 $ 6,269 Loans collectively evaluated for impairment $ 734,139 $ 191,810 $ 21,022 $ 1,316,400 $ 35,111 $ 2,298,482 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 and lease 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 individually evaluated for impairment $ 1,207 $ – $ 1 $ – $ 59 $ 1,267 Allowance for loans collectively evaluated for impairment $ 9,276 $ 1,923 $ 683 $ 10,573 $ 285 $ 22,740 Allowance for loans acquired with deteriorated credit quality $ – $ – $ – $ – $ – $ – |
Impaired Financing Receivables [Table Text Block] | (In thousands) Unpaid Average Interest Recorded principal Related recorded income December 31, 2018 investment balance allowance investment recognized Loans with no related allowance recorded: Commercial and industrial $ 192 $ 707 $ – $ 161 $ – Construction and development, excluding undeveloped land 318 489 – 437 – Undeveloped land 474 506 – 474 – Real estate mortgage Commercial investment 138 138 – 35 – Owner occupied commercial 586 1,023 – 1,503 – 1-4 family residential 760 760 – 1,242 – Home equity - first lien – – – – Home equity - junior lien 143 143 – 73 – Subtotal: Real estate mortgage 1,627 2,064 – 2,853 – Consumer – – – 23 Subtotal $ 2,611 $ 3,766 $ – $ 3,948 $ – Loans with an allowance recorded: Commercial and industrial $ 28 $ 28 $ 28 $ 1,851 $ 2 Construction and development, excluding undeveloped land – – – – – Undeveloped land – – – 24 – Real estate mortgage Commercial investment – – – – – Owner occupied commercial – – – 897 – 1-4 family residential 14 14 14 14 1 Home equity - first lien – – – – – Home equity - junior lien – – – – – Subtotal: Real estate mortgage 14 14 14 911 1 Consumer – – – – – Subtotal $ 42 $ 42 $ 42 $ 2,786 $ 3 Total: Commercial and industrial $ 220 $ 735 $ 28 $ 2,012 2 Construction and development, excluding undeveloped land 318 489 – 437 – Undeveloped land 474 506 – 498 – Real estate mortgage Commercial investment 138 138 – 35 – Owner occupied commercial 586 1,023 – 2,400 – 1-4 family residential 774 774 14 1,256 1 Home equity - first lien – – – – – Home equity - junior lien 143 143 – 73 – Subtotal: Real estate mortgage 1,641 2,078 14 3,764 1 Consumer – – – 23 – Total $ 2,653 $ 3,808 $ 42 $ 6,734 3 (In thousands) Unpaid Average Interest Recorded principal Related recorded income December 31, 2017 investment balance allowance investment recognized Loans with no related allowance recorded: Commercial and industrial $ 1,142 $ 2,202 $ – $ 411 $ – Construction and development, excluding undeveloped land 664 834 – 559 – Undeveloped land 474 506 – 425 – Real estate mortgage Commercial investment 52 53 – 110 – Owner occupied commercial 3,332 3,789 – 1,678 – 1-4 family residential 1,637 1,657 – 935 – Home equity - first lien – – – – Home equity - junior lien 31 31 – 186 – Subtotal: Real estate mortgage 5,052 5,530 – 2,909 – Consumer – – – – Subtotal $ 7,332 $ 9,072 $ – $ 4,304 $ – Loans with an allowance recorded: Commercial and industrial $ 34 $ 34 $ 34 $ 1,882 78 Construction and development, excluding undeveloped land – – Undeveloped land – 48 – Real estate mortgage Commercial investment – – – – – Owner occupied commercial – – – – – 1-4 family residential 14 14 14 5 – Home equity - first lien – – – – – Home equity - junior lien – – – – – Subtotal: Real estate mortgage 14 14 14 5 – Consumer – – – 46 – Subtotal $ 48 $ 48 $ 48 $ 1,981 $ 78 Total: Commercial and industrial $ 1,176 $ 2,236 $ 34 $ 2,293 78 Construction and development, excluding undeveloped land 664 834 – 559 – Undeveloped land 474 506 – 473 – Real estate mortgage Commercial investment 52 53 – 110 – Owner occupied commercial 3,332 3,789 – 1,678 – 1-4 family residential 1,651 1,671 14 940 – Home equity - first lien – – – – – Home equity - junior lien 31 31 – 186 – Subtotal: Real estate mortgage 5,066 5,544 14 2,914 – Consumer – – – 46 – Total $ 7,380 $ 9,120 $ 48 $ 6,285 $ 78 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | December 31, (In thousands) 201 8 201 7 Commercial and industrial $ 192 $ 321 Construction and development, excluding undeveloped land 318 664 Undeveloped land 474 474 Real estate mortgage Commercial investment 138 52 Owner occupied commercial 586 3,332 1-4 family residential 760 1,637 Home equity - first lien – – Home equity - junior lien 143 31 Subtotal: Real estate mortgage 1,627 5,052 Consumer – – Total $ 2,611 $ 6,511 |
Past Due Financing Receivables [Table Text Block] | Recorded (In thousands) 90 or more investment days past > 90 days 30-59 days 60-89 days due (includes) Total Total and December 31, 201 8 Current past due past due non-accrual) past due loans accruing Commercial and industrial $ 832,923 $ 197 $ 200 $ 204 $ 601 $ 833,524 $ 12 Construction and development, excluding undeveloped land 224,732 – – 318 318 225,050 – Undeveloped land 29,552 66 – 474 540 30,092 – Real estate mortgage Commercial investment 586,884 1,382 107 237 1,726 588,610 99 Owner occupied Commercial 421,143 2,732 1,377 1,121 5,230 426,373 535 1-4 family residential 274,547 374 336 760 1,470 276,017 – Home equity - first lien 49,321 179 – – 179 49,500 – Home equity - junior lien 70,467 182 56 242 480 70,947 99 Subtotal: Real estate mortgage 1,402,362 4,849 1,876 2,360 9,085 1,411,447 733 Consumer 48,058 – – – – 48,058 – Total $ 2,537,627 $ 5,112 $ 2,076 $ 3,356 $ 10,544 $ 2,548,171 $ 745 December 31, 201 7 Commercial and industrial $ 776,118 $ 2,571 $ 4 $ 321 $ 2,896 $ 779,014 $ – Construction and development, excluding undeveloped land 194,936 – 312 664 976 195,912 – Undeveloped land 18,514 – – 474 474 18,988 – Real estate mortgage Commercial investment 594,242 608 – 52 660 594,902 – Owner occupied commercial 394,623 455 275 3,332 4,062 398,685 – 1-4 family residential 259,994 172 307 1,637 2,116 262,110 – Home equity - first lien 56,938 172 – – 172 57,110 – Home equity - junior lien 63,667 87 194 33 314 63,981 2 Subtotal: Real estate mortgage 1,369,464 1,494 776 5,054 7,324 1,376,788 2 Consumer 38,699 86 83 – 169 38,868 – Total $ 2,397,731 $ 4,151 $ 1,175 $ 6,513 $ 11,839 $ 2,409,570 $ 2 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (In thousands) Substandard Total December 31, 201 8 Pass OAEM Substandard non-performing Doubtful loans Commercial and industrial $ 803,073 $ 11,516 $ 18,703 $ 232 $ – $ 833,524 Construction and development, excluding undeveloped land 220,532 4,200 – 318 – 225,050 Undeveloped land 29,618 – – 474 – 30,092 Real estate mortgage Commercial investment 586,543 1,815 15 237 – 588,610 Owner occupied commercial 411,722 9,030 4,500 1,121 – 426,373 1-4 family residential 273,537 1,544 162 774 – 276,017 Home equity - first lien 49,500 – – – – 49,500 Home equity - junior lien 70,437 249 19 242 – 70,947 Subtotal: Real estate mortgage 1,391,739 12,638 4,696 2,374 – 1,411,447 Consumer 48,058 – – – – 48,058 Total $ 2,493,020 $ 28,354 $ 23,399 $ 3,398 $ – $ 2,548,171 December 31, 201 7 Commercial and industrial $ 751,628 $ 12,032 $ 14,178 $ 1,176 $ – $ 779,014 Construction and development, excluding undeveloped land 195,248 – – 664 – 195,912 Undeveloped land 18,484 – 30 474 – 18,988 Real estate mortgage Commercial investment 591,232 3,599 19 52 – 594,902 Owner occupied Commercial 383,455 8,683 3,215 3,332 – 398,685 1-4 family residential 256,968 2,477 1,014 1,651 – 262,110 Home equity - first lien 57,110 – – – – 57,110 Home equity - junior lien 63,471 247 230 33 – 63,981 Subtotal: Real estate mortgage 1,352,236 15,006 4,478 5,068 – 1,376,788 Consumer 38,747 117 4 – – 38,868 Total $ 2,356,343 $ 27,155 $ 18,690 $ 7,382 $ – $ 2,409,570 |
Note 6 - Premises and Equipme_2
Note 6 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, (In thousands) 2018 2017 Land $ 9,664 $ 8,908 Buildings and improvements 47,726 45,285 Furniture and equipment 21,793 19,360 Construction in progress 1,051 1,496 80,234 75,049 Accumulated depreciation and amortization (35,470 ) (33,394 ) Total premises and equipment $ 44,764 $ 41,655 |
Note 7 - Other Assets (Tables)
Note 7 - Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | December 31, (In thousands) 201 8 201 7 Cash surrender value of life insurance other than BOLI $ 15,029 $ 16,213 Net deferred tax asset 10,193 9,206 Investments in income tax credit related ventures 4,537 3,216 Prepaid assets 3,072 2,856 Other short term receivables 1,939 2,215 Core deposit intangible 1,057 1,225 Mortgage servicing rights (MSRs) 1,022 875 OREO and other foreclosed property 1,018 2,640 Goodwill 682 682 Other 8,362 9,378 Total $ 46,911 $ 48,506 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | (In thousands) 201 8 201 7 Balance at January 1 $ 875 $ 921 Originations 302 225 Amortization (155 ) (271 ) Balance at December 31 $ 1,022 $ 875 |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For years ended December 31, (In thousands) 201 8 201 7 201 6 Current income tax expense Federal $ 11,567 $ 12,622 $ 14,270 State 732 546 698 Total current income tax expense 12,299 13,168 14,968 Deferred income tax expense (benefit) Federal (52 ) 3,783 192 State (44 ) (4 ) 36 Total deferred income tax expense (benefit) (96 ) 3,779 228 Change in valuation allowance (172 ) 192 48 Total income tax expense $ 12,031 $ 17,139 $ 15,244 |
Schedule of Income Tax Expense Benefit, Recorded Directly to Stockholders Equity [Table Text Block] | For years ended December 31, (In thousands) 201 8 201 7 201 6 Unrealized (loss) gain on securities available for sale $ (812 ) $ (531 ) $ (1,171 ) Reclassification adjustment for securities losses realized in income – 81 – Reclassification adjustment for securities impairment realized in income – – – Unrealized (loss) gain on derivatives 46 112 24 Minimum pension liability adjustment 46 (9 ) 1 Compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes – – (1,705 ) Total income tax (benefit) expense recorded directly to stockholders’ equity $ (720 ) $ (347 ) $ (2,851 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For years ended December 31, 201 8 201 7 201 6 U.S. federal income tax rate 21.0 % 35.0 % 35.0 % Tax credits (1.8 ) (14.4 ) (9.7 ) Stock based compensation (0.8 ) (2.6 ) – Net deferred tax asset remeasurement (0.5 ) 10.8 – Other, net (0.5 ) 0.9 0.3 Cash surrender value of life insurance (0.4 ) (1.5 ) (0.9 ) Tax exempt interest income (0.4 ) (1.2 ) (1.2 ) Amortization/impairment of investments in tax credit partnerships 0.4 3.4 2.8 State income taxes 0.8 0.7 0.8 Effective income tax rate 17.8 % 31.1 % 27.1 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, (In thousands) 201 8 201 7 Deferred tax assets Allowance for loan and lease loss $ 5,567 $ 5,422 Deferred compensation 4,703 4,148 Accrued expenses 968 798 Securities 756 121 Investments in tax credit partnerships 543 565 Loans 434 442 Other assets 181 186 Write-downs and costs associated with OREO 7 39 Total deferred tax assets 13,159 11,721 Deferred tax liabilities Property and equipment 1,154 764 Loan costs 632 588 Leases 336 149 Other liabilities 267 260 Core deposit intangible 230 267 Mortgage servicing rights 193 161 Total deferred tax liabilities 2,812 2,189 Valuation allowance (154 ) (326 ) Net deferred tax asset $ 10,193 $ 9,206 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | (In thousands) 201 8 201 7 Balance as of January 1 $ 40 $ 40 Increases - current year tax positions – 11 Increases - prior year tax positions – – Settlements – – Lapse of statute of limitations (11 ) (11 ) Balance as of December 31 $ 29 $ 40 |
Note 9 - Deposits (Tables)
Note 9 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | December 31, (In thousands) 201 8 201 7 Interest bearing demand $ 892,867 $ 833,450 Savings 155,007 152,348 Money market 688,744 682,226 Time deposits of $250,000 or greater 55,182 38,439 Other time deposits 291,533 197,135 Total interest bearing deposits $ 2,083,333 $ 1,903,598 |
Time Deposit Maturities [Table Text Block] | 2019 $ 172,321 2020 123,832 2021 36,365 2022 6,429 2023 7,668 2024 and thereafter 100 Total time deposits $ 346,715 |
Note 10 - Securities Sold Und_2
Note 10 - Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | (Dollars in thousands) 2018 2017 Average balance during the year $ 62,580 $ 70,187 Average interest rate during the year 0.25 % 0.19 % Maximum month-end balance during the year $ 74,725 $ 75,365 |
Note 11 - Advances From the F_2
Note 11 - Advances From the Federal Home Loan Bank (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Maturities and Average Effective Interest Rates of Federal Home Loan Bank Advances Disclosure [Table Text Block] | (In thousands) December 31, 201 8 December 31, 201 7 Year Advance Fixed Rate Advance Fixed Rate 2019 $ 30,000 2.54 % $ 30,000 1.48 % 2020 1,691 2.23 1,741 2.23 2021 215 2.12 288 2.12 2024 2,240 2.36 2,454 2.36 2025 4,626 2.42 5,149 2.42 2026 8,185 1.99 8,564 1.99 2028 1,220 1.49 1,262 1.49 Total $ 48,177 2.39 % $ 49,458 1.74 % |
Federal Home Loan Bank, Advances [Table Text Block] | (In thousands) 2019 $ 31,420 2020 2,924 2021 1,298 2022 1,268 2023 1,297 2024 and beyond 9,970 |
Note 12 - Other Comprehensive_2
Note 12 - Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Net unrealized Net unrealized Minimum gains (losses) gains (losses) pension on securities on cash liability (In thousands) available for sale flow hedges adjustment Total Balance at December 31, 2015 $ 965 $ (60 ) $ (273 ) $ 632 Other comprehensive (loss) income before reclassifications (2,176 ) 44 1 (2,131 ) Amounts reclassified from accumulated other comprehensive income – – – – Net current period other comprehensive (loss) income (2,176 ) 44 1 (2,131 ) Balance at December 31, 2016 $ (1,211 ) $ (16 ) $ (272 ) $ (1,499 ) Other comprehensive (loss) income before reclassifications (721 ) 209 (70 ) (582 ) Amounts reclassified from accumulated other comprehensive income 151 – – 151 Net current period other comprehensive (loss) income (570 ) 209 (70 ) (431 ) Balance at December 31, 2017 (1) $ (1,781 ) $ 193 $ (342 ) $ (1,930 ) Other comprehensive income (loss) before reclassifications (3,053 ) 174 173 (2,706 ) Amounts reclassified from accumulated other comprehensive income – – – – Net current period other comprehensive income (loss) (3,053 ) 174 173 (2,706 ) Reclassification adjustment for adoption of ASU 2018-02 (496 ) 41 (51 ) (506 ) Balance at December 31, 2018 $ (5,330 ) $ 408 $ (220 ) $ (5,142 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details of accumulated Affected line item in o ther c omprehensive A mount reclassified from a ccumulated the c onsolidated i ncome ( l oss) c omponents o ther c omprehensive i ncome ( l oss) s tatements of i ncome For the years ended December 31, (In thousands) 2018 2017 2016 Unrealized gains (losses) on securities available for sale: Realized loss on sale of available for sale securities $ – $ (232 ) $ – Loss on sale of securities Effect of income taxes – 81 – Income tax expense Reclassifications, net of income taxes $ – $ (151 ) $ – |
Note 15 - Net Income Per Shar_2
Note 15 - Net Income Per Share and Common Stock Dividends (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (In thousands, except per share data) 2018 2017 2016 Net income, basic and diluted $ 55,517 $ 38,043 $ 41,027 Average shares outstanding, basic 22,619 22,532 22,356 Effect of dilutive shares 325 451 436 Average shares outstanding including dilutive shares 22,944 22,983 22,792 Net income per share, basic $ 2.45 $ 1.69 $ 1.84 Net income per share, diluted $ 2.42 $ 1.66 $ 1.80 |
Note 16 - Employee Benefit Pl_2
Note 16 - Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Expected Benefit Payments [Table Text Block] | (In thousands) 2019 $ 84 2020 84 2021 – 2022 – 2023 – Beyond 2023 3,278 Total future payments $ 3,446 |
Note 17 - Stock-based Compens_2
Note 17 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | (In thousands) For years ended December 31, 201 8 201 7 201 6 Stock-based compensation expense before income taxes $ 4,027 $ 2,892 $ 2,473 Less: deferred tax benefit (846 ) (607 ) (866 ) Reduction of net income $ 3,181 $ 2,285 $ 1,607 |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award Fair Value Assumptions and Methodology [Table Text Block] | Assumptions 201 8 201 7 201 6 Dividend yield 2.56 % 2.72 % 2.94 % Expected volatility 20.17 % 19.47 % 19.31 % Risk free interest rate 2.96 % 2.29 % 1.70 % Expected life of SARs (in years) 7.0 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 ( I n thousands) price price ( I n thousands) value life ( I n years) 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 Activity during 2017 SARs granted 46 40.00 - 40.00 40.00 – 6.34 Exercised (77 ) 14.02 - 17.89 15.41 1,855 3.18 Forfeited – – – – – At December 31, 2017 Vested and exercisable 490 14.02 - 33.08 16.46 10,408 3.16 4.0 Unvested 214 15.26 - 40.00 26.46 2,515 4.17 7.7 Total outstanding 704 14.02 - 40.00 19.51 12,923 3.47 5.1 Activity during 2018 SARs granted 100 35.90 - 39.32 37.75 – 6.07 Exercised (73 ) 14.02 - 19.37 15.32 1,654 3.43 Forfeited – – – – – At December 31, 2018 Vested and exercisable 492 14.02 - 40.00 17.69 7,505 3.21 3.8 Unvested 239 19.37 - 40.00 32.15 917 5.09 8.0 Total outstanding 731 14.02 - 40.00 22.42 8,422 3.82 5.2 Vested year-to-date 75 $15.26 - 40.00 $ 23.38 $ 776 $ 3.77 |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights, Award Expiration Period [Table Text Block] | Expiration Number of SARs outstanding SARs exercisable Weighted average exercise price of SARs outstanding 2019 24 24 $ 14.76 2020 44 44 14.02 2021 74 74 15.86 2022 117 117 15.25 2023 80 80 15.26 2024 83 64 19.37 2025 76 45 22.99 2026 88 35 25.84 2027 45 9 40.00 2028 100 – 37.75 731 492 $ 22.42 |
Schedule of Nonvested Share Activity [Table Text Block] | Grant date weighted- Number average value Unvested at December 31, 2015 156 $ 18.98 Shares awarded 51 25.78 Restrictions lapsed and shares released to employees/directors (49 ) 17.98 Shares forfeited (13 ) 20.69 Unvested at December 31, 2016 145 $ 21.57 Shares awarded 29 44.85 Restrictions lapsed and shares released to employees/directors (47 ) 19.79 Shares forfeited (8 ) 25.18 Unvested at December 31, 2017 119 $ 27.62 Shares awarded 40 35.89 Restrictions lapsed and shares released to employees/directors (44 ) 23.62 Shares forfeited (5 ) 31.35 Unvested at December 31, 2018 110 $ 32.09 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Fair Vesting value at Expected Grant period grant shares to year in years date be awarded 2016 3 $ 22.61 69,161 2017 3 35.66 61,893 2018 3 31.54 50,352 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares to be Issued Upon Exercise and Remaining Shares Available for Future Issuance [Table Text Block] | Plan category Number of shares to be issued upon exercise /vesting Weighted average exercise price Shares available for future issuance (a) Equity compensation plans approved by security holders: Stock appreciation rights (SARs) (b) (b) 647 Restricted common stock 110 N/A (a) Performance stock units (c) N/A (a) Restricted stock units 7 N/A (a) Total shares 117 647 |
Note 19 - Commitments and Con_2
Note 19 - Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | (In thousands) Period Total amount One year or less $ 2,016 One to three years 3,918 Three to five years 3,953 After five years 13,349 Total $ 23,236 |
Note 20 - Assets and Liabilit_2
Note 20 - Assets and Liabilities Measured and Reported at Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | (In thousands) Fair value at December 31, 2018 Assets Total Level 1 Level 2 Level 3 Investment securities available for sale: Government sponsored enterprise obligations 261,039 – 261,039 – Mortgage-backed securities - government agencies 146,277 – 146,277 – Obligations of states and political subdivisions 29,679 – 29,679 – Total investment securities available for sale 436,995 – 436,995 – Interest rate swaps 1,035 – 1,035 – Total assets $ 438,030 $ – $ 438,030 $ – Liabilities Interest rate swaps $ 543 $ – $ 543 $ – (In thousands) Fair value at December 31, 2017 Assets Total Level 1 Level 2 Level 3 Investment securities available for sale: U.S. Treasury and other U.S. government obligations $ 149,984 $ 149,984 $ – $ – Government sponsored enterprise obligations 213,844 – 213,844 – Mortgage-backed securities - government agencies 161,507 – 161,507 – Obligations of states and political subdivisions 49,189 – 49,189 – Total investment securities available for sale 574,524 149,984 424,540 – Interest rate swaps 579 – 579 – Total assets (1) $ 575,103 $ 149,984 $ 425,119 $ – Liabilities Interest rate swaps (1) $ 283 $ – $ 283 $ – |
Fair Value Measurements, Nonrecurring [Table Text Block] | (In thousands) Fair value at December 31, 201 8 Total Level 1 Level 2 Level 3 Total losses Impaired loans $ 925 $ – $ – $ 925 $ (514 ) OREO 1,018 – – 1,018 (32 ) Total $ 1,943 $ – $ – $ 1,943 $ (546 ) (In thousands) Fair value at December 31, 201 7 Total Level 1 Level 2 Level 3 Total losses Impaired loans $ 2,569 $ – $ – $ 2,569 $ (121 ) OREO 2,640 – – 2,640 (171 ) Total $ 5,209 $ – $ – $ 5,209 $ (292 ) |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Significant Weighted Carrying Valuation unobservable average of (Dollars in thousands) amount technique input input Impaired loans - collateral dependent $ 925 Appraisal Appraisal discounts (%) 9.9 % OREO 1,018 Appraisal Appraisal discounts (%) 12.2 |
Note 21 - Disclosure of Finan_2
Note 21 - Disclosure of Financial Instruments Not Reported at Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (In thousands) Carrying December 31, 201 8 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 198,939 $ 198,939 $ 198,939 $ – $ – Mortgage loans held for sale 1,675 1,743 – 1,743 – Federal Home Loan Bank stock and other securities 10,370 10,370 – 10,370 – Loans, net 2,522,637 2,508,587 – – 2,508,587 Accrued interest receivable 8,360 8,360 8,360 – – Financial liabilities Deposits 2,794,356 2,792,914 – – 2,792,914 Securities sold under agreement to repurchase 36,094 36,094 – 36,094 – Federal funds purchased 10,247 10,247 – 10,247 – FHLB Advances 48,177 47,227 – 47,227 – Accrued interest payable 762 762 762 – – December 31, 201 7 Financial assets Cash and short-term investments $ 139,248 $ 139,248 $ 139,248 $ – $ – Mortgage loans held for sale 2,964 2,964 – 2,964 – Federal Home Loan Bank stock and other securities 7,646 7,646 – 7,646 – Loans, net 2,384,685 2,338,464 – – 2,338,464 Accrued interest receivable 8,369 8,369 8,369 – – Financial liabilities Deposits 2,578,295 2,576,385 – – 2,576,385 Securities sold under agreement to repurchase 70,473 70,473 – 70,473 – Federal funds purchased 161,352 161,352 – 161,352 – FHLB Advances 49,458 48,642 – 48,642 – Accrued interest payable 232 232 232 – – |
Note 22 - Derivative Financia_2
Note 22 - Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | (Dollars in thousands) Notional Maturity Receive (variable) Pay fixed Fair value Fair value amount date index swap rate December 31, 201 8 December 31, 201 7 $ 10,000 12/6/2021 US 3 Month LIBOR 1.89 % $ 193 $ 106 20,000 12/6/2020 US 3 Month LIBOR 1.79 323 190 $ 30,000 1.82 % $ 516 $ 296 |
Not Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | (Dollar amounts in thousands) Receiving Paying December 31, December 31, December 31, December 31, 201 8 201 7 201 8 201 7 Notional amount $ 55,505 $ 54,964 $ 55,505 $ 54,964 Weighted average maturity (years) 8.0 8.7 8.0 8.7 Fair value $ 519 $ 259 $ 543 $ 283 |
Note 23 - Regulatory Matters (T
Note 23 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 December 31, 201 8 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital Consolidated $ 396,019 13.91 % $ 227,714 8.0 % NA NA Bank 385,637 13.56 227,462 8.0 $ 284,327 10.0 % Common Equity Tier 1 risk-based capital Consolidated 370,135 13.00 128,089 4.5 NA NA Bank 359,753 12.65 127,947 4.5 184,813 6.5 Tier 1 risk-based capital Consolidated 370,135 13.00 170,785 6.0 NA NA Bank 359,753 12.65 170,596 6.0 227,462 8.0 Leverage (1) Consolidated 370,135 11.33 130,698 4.0 NA NA Bank 359,753 11.02 130,569 4.0 163,211 5.0 Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 201 7 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital Consolidated $ 359,866 13.52 % $ 213,012 8.0 % NA NA Bank 347,840 13.07 212,891 8.0 $ 266,114 10.0 % Common Equity Tier 1 risk-based capital Consolidated 334,631 12.57 119,820 4.5 NA NA Bank 322,605 12.12 212,891 4.5 172,974 6.5 Tier 1 risk-based capital Consolidated 334,631 12.57 159,760 6.0 NA NA Bank 322,605 12.12 159,668 6.0 212,891 8.0 Leverage (1) Consolidated 334,631 10.70 125,122 4.0 NA NA Bank 322,605 10.32 125,040 4.0 156,300 5.0 |
Note 24 - Stock Yards Bancorp_2
Note 24 - Stock Yards Bancorp, Inc. (Parent Company Only) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | Condensed Balance Sheets December 31, (In thousands) 201 8 201 7 Assets Cash on deposit with subsidiary bank $ 7,655 $ 10,648 Investment in and receivable from subsidiaries 356,118 321,617 Other assets 3,147 1,521 Total assets $ 366,920 $ 333,786 Liabilities and stockholders ’ equity Other liabilities $ 420 $ 142 Total stockholders’ equity 366,500 333,644 Total liabilities and stockholders ’ equity $ 366,920 $ 333,786 |
Condensed Income Statement [Table Text Block] | Condensed Statements of Income Years ended December 31, (In thousands) 201 8 201 7 201 6 Income - dividends and interest from subsidiaries $ 21,403 $ 18,160 $ 16,147 Other income 12 82 1 Less expenses 4,818 3,255 2,235 Income before income taxes and equity in undistributed net income of subsidiary 16,597 14,987 13,913 Income tax benefit (1,713 ) (1,985 ) (987 ) Income before equity in undistributed net income of subsidiary 18,310 16,972 14,900 Equity in undistributed net income of subsidiary 37,207 21,071 26,127 Net income 55,517 38,043 41,027 Comprehensive Income $ 52,811 $ 37,612 $ 38,896 |
Condensed Cash Flow Statement [Table Text Block] | Condensed Statements of Cash Flows Years ended December 31 (In thousands) 201 8 201 7 201 6 Operating activities Net income $ 55,517 $ 38,043 $ 41,027 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (37,207 ) (21,071 ) (26,127 ) Gain on sale of fixed assets (10 ) – – Stock compensation expense 4,027 2,892 2,473 Excess tax benefits from stock-based compensation arrangements (549 ) (1,463 ) (1,705 ) Recover of impairment loss on other assets held for investment – – (588 ) Depreciation, amortization and accretion, net – 4 10 Proceeds from liquidation of private investment fund – (81 ) – Decrease (increase) in other assets (1,080 ) 5,943 (990 ) Increase in other liabilities 220 10 11 Net cash provided by operating activities 20,918 24,277 14,111 Investing activities Proceeds from sale of other assets held for investment – – 1,108 Proceeds from sale of fixed assets 13 – – Proceeds from liquidation of private investment fund – 81 – Net cash provided by investing activities 13 81 1,108 Financing activities Common stock repurchases (2,004 ) (2,389 ) 2,337 Excess tax benefit from stock-based compensation arrangements – – 1,705 Cash used for settlement of stock awards (154 ) (216 ) (1,918 ) Cash dividends paid (21,766 ) (18,077 ) (16,093 ) Net cash used in financing activities (23,924 ) (20,682 ) (13,969 ) Net increase (decrease) in cash (2,993 ) 3,676 1,250 Cash at beginning of year 10,648 6,972 5,722 Cash at end of year $ 7,655 $ 10,648 $ 6,972 |
Note 25 - Segments (Tables)
Note 25 - Segments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Wealth Commercial management (In thousands) banking and trust Total Year ended December 31, 201 8 Net interest income $ 114,161 $ 255 $ 114,416 Provision 2,705 – 2,705 Investment management and trust services – 21,536 21,536 All other non-interest income 23,810 – 23,810 Non-interest expense 76,963 12,546 89,509 Income before income taxes 58,303 9,245 67,548 Income tax expense 10,025 2,006 12,031 Net income $ 48,278 $ 7,239 $ 55,517 Segment assets $ 3,301,108 $ 1,816 $ 3,302,924 Year ended December 31, 201 7 Net interest income $ 103,352 $ 301 $ 103,653 Provision 2,550 – 2,550 Investment management and trust services – 20,505 20,505 All other non-interest income 23,994 – 23,994 Non-interest expense 78,181 12,239 90,420 Income before income taxes 46,615 8,567 55,182 Income tax expense 14,080 3,059 17,139 Net income $ 32,535 $ 5,508 $ 38,043 Segment assets $ 3,237,656 $ 1,990 $ 3,239,646 Year ended December 31, 2016 Net interest income $ 97,021 $ 268 $ 97,289 Provision 3,000 – 3,000 Investment management and trust services – 19,155 19,155 All other non-interest income 23,765 – 23,765 Non-interest expense 69,648 11,290 80,938 Income before income taxes 48,138 8,133 56,271 Income tax expense 12,340 2,904 15,244 Net income $ 35,798 $ 5,229 $ 41,027 Segment assets $ 3,037,394 $ 2,087 $ 3,039,481 |
Note 26 - Quarterly Operating_2
Note 26 - Quarterly Operating Results (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 201 8 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 35,004 $ 33,021 $ 32,004 $ 29,744 Interest expense 5,092 4,500 3,330 2,435 Net interest income 29,912 28,521 28,674 27,309 Provision - 735 1,235 735 Net interest income after provision 29,912 27,786 27,439 26,574 Non-interest income 11,576 11,426 11,435 10,909 Non-interest expenses 24,565 21,781 22,136 21,027 Income before income taxes 16,923 17,431 16,738 16,456 Income tax expense 2,265 3,555 3,159 3,052 Net income $ 14,658 $ 13,876 $ 13,579 $ 13,404 Basic earnings per share $ 0.65 $ 0.61 $ 0.60 $ 0.59 Diluted earnings per share 0.64 0.60 0.59 0.58 201 7 (In thousands, except per share data) 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 29,098 $ 28,120 $ 27,026 $ 26,655 Interest expense 2,069 1,947 1,781 1,449 Net interest income 27,029 26,173 25,245 25,206 Provision 900 150 600 900 Net interest income after provision 26,129 26,023 24,645 24,306 Non-interest income 11,407 10,945 11,525 10,622 Non-interest expenses 27,048 21,168 21,209 20,995 Income before income taxes 10,488 15,800 14,961 13,933 Income tax expense 5,542 4,096 4,359 3,142 Net income $ 4,946 $ 11,704 $ 10,602 $ 10,791 Basic earnings per share $ 0.22 $ 0.52 $ 0.47 $ 0.48 Diluted earnings per share 0.22 0.51 0.46 0.47 2016 (In thousands, except per share data) 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 26,372 $ 25,944 $ 25,169 $ 24,722 Interest expense 1,293 1,182 1,212 1,231 Net interest income 25,079 24,762 23,957 23,491 Provision 500 1,250 750 500 Net interest income after provision 24,579 23,512 23,207 22,991 Non-interest income 11,165 11,202 10,629 9,924 Non-interest expenses 21,119 20,364 20,051 19,404 Income before income taxes 14,625 14,350 13,785 13,511 Income tax expense 4,009 3,883 3,676 3,676 Net income $ 10,616 $ 10,467 $ 10,109 $ 9,835 Basic earnings per share $ 0.47 $ 0.47 $ 0.45 $ 0.44 Diluted earnings per share 0.46 0.46 0.45 0.44 |
Note 27 - Revenue From Contra_2
Note 27 - Revenue From Contracts With Customers (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Revenue by operating segment Years ended December 31, (In thousands, except per share data) 2018 2017 2016 Wealth Management and Trust Wealth management and trust services $ 21,536 $ 20,505 $ 19,155 Commercial Deposit service charges 5,759 6,172 6,037 Debit and credit cards 6,769 5,979 5,655 Treasury management 4,571 4,297 3,867 Mortgage banking (1) 2,568 3,221 3,897 (Loss) on sale of securities available for sale (1) – (232 ) – Net investment product sales commissions and fees 1,677 1,629 1,563 Bank owned life insurance (1) 1,129 1,159 871 Other (2) 1,337 1,769 1,875 Total Commercial non-interest income 23,810 23,994 23,765 Total non-interest income $ 45,346 $ 44,499 $ 42,920 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2017USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2016USD ($) | |
Period Look-back, Quarters | 32 | 28 | |||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | $ 1,300 | ||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 5,900 | 5,900 | |||
Unrecognized Tax Benefits, Ending Balance | $ 40 | $ 29 | $ 40 | $ 40 | |
Aggregate Number of Full Service Branche Locations | 38 | ||||
Number of Operating Segments | 2 | ||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | |||||
Scenario, Forecast [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 16,600 | ||||
Operating Lease, Liability, Total | $ 17,900 | ||||
Accounting Standards Update 2018-02 [Member] | |||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | $ 506 | ||||
Fair Value Hedging [Member] | |||||
Derivative, Number of Instruments Held, Total | 0 | 0 | 0 | ||
Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 3 years | ||||
Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 40 years |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Supplemental cash flow information: | |||
Income tax payments | $ 7,227 | $ 15,838 | $ 12,860 |
Cash paid for interest | 14,827 | 7,158 | 4,901 |
Supplemental non-cash activity: | |||
Transfers from loans to foreclosed assets | $ 2,170 | $ 1,916 |
Note 1 - Summary of Significa_5
Note 1 - Summary of Significant Accounting Policies - Reclassification Adjustment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Non-interest income | $ 23,810 | $ 23,994 | $ 23,765 |
Compensation expense | 46,104 | 42,581 | 40,814 |
Technology and communication expense | 8,897 | 7,957 | 7,040 |
Accounting Standards Update 2014-09 [Member] | |||
Non-interest income | 1,677 | 1,629 | 1,563 |
Compensation expense | 46,104 | 42,581 | 40,814 |
Technology and communication expense | 8,897 | 7,957 | 7,040 |
Net impact | |||
Previously Reported [Member] | Accounting Standards Update 2014-09 [Member] | |||
Non-interest income | 2,224 | 2,200 | 2,145 |
Compensation expense | 46,107 | 42,584 | 40,817 |
Technology and communication expense | 9,441 | 8,525 | 7,619 |
Restatement Adjustment [Member] | Accounting Standards Update 2014-09 [Member] | |||
Non-interest income | (547) | (571) | (582) |
Compensation expense | (3) | (3) | (3) |
Technology and communication expense | $ (544) | $ (568) | $ (579) |
Note 2 - Restrictions on Cash_2
Note 2 - Restrictions on Cash and Due From banks (Details Textual) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Cash, Uninsured Amount | $ 1.2 | |
Federal Home Loan Bank Stock and Federal Reserve Bank Stock, Total | 143 | |
Restricted Cash and Cash Equivalents, Total | $ 9 | $ 8.1 |
Note 3 - Acquisition (Details T
Note 3 - Acquisition (Details Textual) - USD ($) $ in Millions | Dec. 19, 2018 | Dec. 31, 2018 | Dec. 31, 2013 |
King Bancorp Inc. [Member] | |||
Payments to Acquire Businesses, Gross | $ 28 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | 195 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 168 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 126 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Common Equity Assumed | $ 16 | ||
THE BANCorp [Member] | |||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 1.1 | $ 2.5 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Proceeds from Sale of Available-for-sale Securities, Total | $ 0 | $ 421 | $ 0 | |
Available-for-sale Securities, Gross Realized Gain (Loss), Total | $ 31 | (263) | ||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Total | 0 | |||
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount | 0 | |||
Collateral Pledged [Member] | ||||
Debt Securities, Available-for-sale, Restricted | $ 355,100 | $ 384,700 |
Note 4 - Securities - Available
Note 4 - Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Securities available for sale, amortized cost | $ 443,742 | $ 577,406 |
Securities available-for-sale, unrealized gains | 545 | 1,222 |
Securities available-for-sale, unrealized losses | (7,292) | (4,104) |
Securities available-for-sale, fair value | 436,995 | 574,524 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available for sale, amortized cost | 264,234 | 214,852 |
Securities available-for-sale, unrealized gains | 156 | 474 |
Securities available-for-sale, unrealized losses | (3,351) | (1,482) |
Securities available-for-sale, fair value | 261,039 | 213,844 |
US Treasury Securities [Member] | ||
Securities available for sale, amortized cost | 149,996 | |
Securities available-for-sale, unrealized gains | ||
Securities available-for-sale, unrealized losses | (12) | |
Securities available-for-sale, fair value | 149,984 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale, amortized cost | 149,748 | 163,571 |
Securities available-for-sale, unrealized gains | 282 | 383 |
Securities available-for-sale, unrealized losses | (3,753) | (2,447) |
Securities available-for-sale, fair value | 146,277 | 161,507 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, amortized cost | 29,760 | 48,987 |
Securities available-for-sale, unrealized gains | 107 | 365 |
Securities available-for-sale, unrealized losses | (188) | (163) |
Securities available-for-sale, fair value | $ 29,679 | $ 49,189 |
Note 4 - Securities - Availab_2
Note 4 - Securities - Available-for-sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Due within 1 year, amortized cost | $ 120,523 | |
Due within 1 year, fair value | 120,239 | |
Due after 1 but within 5 years, amortized cost | 64,141 | |
Due after 1 but within 5 years, fair value | 63,260 | |
Due after 5 but within 10 years, amortized cost | 8,059 | |
Due after 5 but within 10 years, fair value | 7,899 | |
Due after 10 years, amortized cost | 101,271 | |
Due after 10 years, fair value | 99,320 | |
Mortgage-backed securities – government agencies, amortized cost | 149,748 | |
Mortgage-backed securities – government agencies, fair value | 146,277 | |
Total securities available-for-sale, amortized cost | 443,742 | $ 577,406 |
Total securities available-for-sale, fair value | $ 436,995 | $ 574,524 |
Note 4 - Securities - Securitie
Note 4 - Securities - Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Securities available-for-sale, less than 12 months, fair value | $ 100,662 | $ 336,779 |
Securities available-for-sale, less than 12 months, unrealized losses | (44) | (1,145) |
Securities available-for-sale, 12 months or more, fair value | 287,807 | 121,981 |
Securities available-for-sale, 12 months or more, unrealized losses | (7,248) | (2,959) |
Securities available-for-sale, fair value | 388,469 | 458,760 |
Securities available-for-sale, unrealized losses | (7,292) | (4,104) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 96,740 | 95,139 |
Securities available-for-sale, less than 12 months, unrealized losses | (38) | (586) |
Securities available-for-sale, 12 months or more, fair value | 149,320 | 49,870 |
Securities available-for-sale, 12 months or more, unrealized losses | (3,313) | (896) |
Securities available-for-sale, fair value | 246,060 | 145,009 |
Securities available-for-sale, unrealized losses | (3,351) | (1,482) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 3,108 | 69,290 |
Securities available-for-sale, less than 12 months, unrealized losses | (5) | (440) |
Securities available-for-sale, 12 months or more, fair value | 120,848 | 67,047 |
Securities available-for-sale, 12 months or more, unrealized losses | (3,748) | (2,007) |
Securities available-for-sale, fair value | 123,956 | 136,337 |
Securities available-for-sale, unrealized losses | (3,753) | (2,447) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 814 | 22,366 |
Securities available-for-sale, less than 12 months, unrealized losses | (1) | (107) |
Securities available-for-sale, 12 months or more, fair value | 17,639 | 5,064 |
Securities available-for-sale, 12 months or more, unrealized losses | (187) | (56) |
Securities available-for-sale, fair value | 18,453 | 27,430 |
Securities available-for-sale, unrealized losses | $ (188) | (163) |
US Treasury Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 149,984 | |
Securities available-for-sale, less than 12 months, unrealized losses | (12) | |
Securities available-for-sale, 12 months or more, fair value | ||
Securities available-for-sale, 12 months or more, unrealized losses | ||
Securities available-for-sale, fair value | 149,984 | |
Securities available-for-sale, unrealized losses | $ (12) |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Loans and Leases Receivable, Deferred Expense Income | $ (592) | $ (600) | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 10,500 | 18,200 | |
Financing Receivable, Recorded Investment, Past Due, Total | 10,544 | 11,839 | |
Impaired or Nonaccrual Financing Receivable, Interest Received Used to Reduce Principal | 93 | 338 | $ 307 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 391 | 159 | 149 |
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | 0 | 0 | $ 0 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 745 | 2 | |
Financing Receivable, Modifications, Recorded Investment | $ 42 | $ 869 | |
Financing Receivable, Modifications, Number of Contracts | 0 | 2 | 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 |
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 42 | $ 48 | |
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | 0 | |
Mortgage Loans in Process of Foreclosure, Amount | 528 | 62 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Modifications, Number of Contracts | 2 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 39 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 39 | ||
Residential Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 12 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 14 | ||
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due, Total | 169 | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Directors and Executive Officers [Member] | |||
Financing Receivable, Recorded Investment, Past Due, Total | $ 500 | $ 0 |
Note 5 - Loans - Loans by Loan
Note 5 - Loans - Loans by Loan Portfolio Class (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Loans | $ 2,548,171 | $ 2,409,570 | $ 2,305,375 |
Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 833,524 | 779,014 | 736,841 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | 225,050 | 195,912 | 192,348 |
Undevelopment Land Portfolio Segment [Member] | |||
Loans | 30,092 | 18,988 | 21,496 |
Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 1,411,447 | 1,376,788 | 1,319,520 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 588,610 | 594,902 | |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 426,373 | 398,685 | |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 276,017 | 262,110 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 49,500 | 57,110 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 70,947 | 63,981 | |
Consumer Portfolio Segment [Member] | |||
Loans | $ 48,058 | $ 38,868 | $ 35,170 |
Note 5 - Loans - Loans to Direc
Note 5 - Loans - Loans to Directors and Their Associates (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Loans and leases receivable, balance | $ 629 | $ 969 |
Effect of changes in composition of directors and executive officers | 51,415 | |
Repayment of term loans | (175) | |
Changes in balances of revolving lines of credit | 643 | (165) |
Loans and leases receivable, balance | $ 52,687 | $ 629 |
Note 5 - Loans - Allowance for
Note 5 - Loans - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Evaluation Method (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loans | $ 2,548,171 | $ 2,409,570 | $ 2,305,375 | $ 2,548,171 | $ 2,409,570 | $ 2,305,375 | |||||||||
Loans individually evaluated for impairment | 2,653 | 7,380 | 6,269 | 2,653 | 7,380 | 6,269 | |||||||||
Loans collectively evaluated for impairment | 2,545,518 | 2,401,714 | 2,298,482 | 2,545,518 | 2,401,714 | 2,298,482 | |||||||||
Balance | $ 24,885 | $ 24,007 | $ 22,441 | 24,885 | 24,007 | 22,441 | |||||||||
Provision for loan losses | $ 735 | $ 1,235 | 735 | 900 | $ 150 | $ 600 | 900 | 500 | $ 1,250 | $ 750 | 500 | 2,705 | 2,550 | 3,000 | |
Charge-offs | (3,012) | (2,429) | (2,493) | ||||||||||||
Recoveries | 956 | 757 | 1,059 | ||||||||||||
Balance | 25,534 | 24,885 | 24,007 | 25,534 | 24,885 | 24,007 | |||||||||
Allowance for loans individually evaluated for impairment | 42 | 48 | 1,267 | 42 | 48 | 1,267 | |||||||||
Allowance for loans collectively evaluated for impairment | 25,492 | 24,837 | 22,740 | 25,492 | 24,837 | 22,740 | |||||||||
Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||
Loans | 476 | 624 | 476 | 624 | |||||||||||
Commercial and Industrial Portfolio Segment [Member] | |||||||||||||||
Loans | 833,524 | 779,014 | 736,841 | 833,524 | 779,014 | 736,841 | |||||||||
Loans individually evaluated for impairment | 220 | 1,176 | 2,682 | 220 | 1,176 | 2,682 | |||||||||
Loans collectively evaluated for impairment | 833,304 | 777,838 | 734,139 | 833,304 | 777,838 | 734,139 | |||||||||
Balance | 11,276 | 10,483 | 8,645 | 11,276 | 10,483 | 8,645 | |||||||||
Provision for loan losses | 2,539 | 2,373 | 2,775 | ||||||||||||
Charge-offs | (2,404) | (1,782) | (1,216) | ||||||||||||
Recoveries | 554 | 202 | 279 | ||||||||||||
Balance | 11,965 | 11,276 | 10,483 | 11,965 | 11,276 | 10,483 | |||||||||
Allowance for loans individually evaluated for impairment | 28 | 34 | 1,207 | 28 | 34 | 1,207 | |||||||||
Allowance for loans collectively evaluated for impairment | 11,937 | 11,242 | 9,276 | 11,937 | 11,242 | 9,276 | |||||||||
Commercial and Industrial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||
Loans | 20 | 20 | |||||||||||||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||||||||||||||
Loans | 225,050 | 195,912 | 192,348 | 225,050 | 195,912 | 192,348 | |||||||||
Loans individually evaluated for impairment | 318 | 664 | 538 | 318 | 664 | 538 | |||||||||
Loans collectively evaluated for impairment | 224,732 | 195,248 | 191,810 | 224,732 | 195,248 | 191,810 | |||||||||
Balance | 1,724 | 1,923 | 1,760 | 1,724 | 1,923 | 1,760 | |||||||||
Provision for loan losses | 36 | (199) | 275 | ||||||||||||
Charge-offs | (133) | ||||||||||||||
Recoveries | 21 | ||||||||||||||
Balance | 1,760 | 1,724 | 1,923 | 1,760 | 1,724 | 1,923 | |||||||||
Allowance for loans individually evaluated for impairment | |||||||||||||||
Allowance for loans collectively evaluated for impairment | 1,760 | 1,724 | 1,923 | 1,760 | 1,724 | 1,923 | |||||||||
Undevelopment Land Portfolio Segment [Member] | |||||||||||||||
Loans | 30,092 | 18,988 | 21,496 | 30,092 | 18,988 | 21,496 | |||||||||
Loans individually evaluated for impairment | 474 | 474 | 474 | 474 | 474 | 474 | |||||||||
Loans collectively evaluated for impairment | 29,618 | 18,514 | 21,022 | 29,618 | 18,514 | 21,022 | |||||||||
Balance | 521 | 684 | 814 | 521 | 684 | 814 | |||||||||
Provision for loan losses | 231 | (163) | (130) | ||||||||||||
Charge-offs | |||||||||||||||
Recoveries | |||||||||||||||
Balance | 752 | 521 | 684 | 752 | 521 | 684 | |||||||||
Allowance for loans individually evaluated for impairment | 1 | 1 | |||||||||||||
Allowance for loans collectively evaluated for impairment | 752 | 521 | 683 | 752 | 521 | 683 | |||||||||
Real Estate Mortgage Portfolio Segment [Member] | |||||||||||||||
Loans | 1,411,447 | 1,376,788 | 1,319,520 | 1,411,447 | 1,376,788 | 1,319,520 | |||||||||
Loans individually evaluated for impairment | 1,641 | 5,066 | 2,516 | 1,641 | 5,066 | 2,516 | |||||||||
Loans collectively evaluated for impairment | 1,409,806 | 1,371,246 | 1,316,400 | 1,409,806 | 1,371,246 | 1,316,400 | |||||||||
Balance | 11,012 | 10,573 | 10,875 | 11,012 | 10,573 | 10,875 | |||||||||
Provision for loan losses | (261) | 383 | (68) | ||||||||||||
Charge-offs | (132) | (98) | (576) | ||||||||||||
Recoveries | 62 | 154 | 342 | ||||||||||||
Balance | 10,681 | 11,012 | 10,573 | 10,681 | 11,012 | 10,573 | |||||||||
Allowance for loans individually evaluated for impairment | 14 | 14 | 14 | 14 | |||||||||||
Allowance for loans collectively evaluated for impairment | 10,667 | 10,998 | 10,573 | 10,667 | 10,998 | 10,573 | |||||||||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||
Loans | 476 | 604 | 476 | 604 | |||||||||||
Consumer Portfolio Segment [Member] | |||||||||||||||
Loans | 48,058 | 38,868 | 35,170 | 48,058 | 38,868 | 35,170 | |||||||||
Loans individually evaluated for impairment | 59 | 59 | |||||||||||||
Loans collectively evaluated for impairment | 48,058 | 38,868 | 35,111 | 48,058 | 38,868 | 35,111 | |||||||||
Balance | $ 352 | $ 344 | $ 347 | 352 | 344 | 347 | |||||||||
Provision for loan losses | 160 | 156 | 148 | ||||||||||||
Charge-offs | (476) | (549) | (568) | ||||||||||||
Recoveries | 340 | 401 | 417 | ||||||||||||
Balance | 376 | 352 | 344 | 376 | 352 | 344 | |||||||||
Allowance for loans individually evaluated for impairment | 59 | 59 | |||||||||||||
Allowance for loans collectively evaluated for impairment | $ 376 | $ 352 | $ 285 | $ 376 | $ 352 | $ 285 |
Note 5 - Loans - Loans Individu
Note 5 - Loans - Loans Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Loans with no related allowance recorded, recorded investment | $ 2,611 | $ 7,332 |
Loans with no related allowance recorded, unpaid principal balance | 3,766 | 9,072 |
Loans with no related allowance recorded, average recorded investment | 3,948 | 4,304 |
Loans with no related allowance recorded, interest income recognized | ||
Loans with an allowance recorded, recorded investment | 42 | 48 |
Loans with an allowance recorded, unpaid principal balance | 42 | 48 |
Related allowance | 42 | 48 |
Loans with an allowance recorded, average recorded investment | 2,786 | 1,981 |
Loans with an allowance recorded, interest income recognized | 3 | 78 |
Recorded investment | 2,653 | 7,380 |
Unpaid principal balance | 3,808 | 9,120 |
Average recorded investment | 6,734 | 6,285 |
Interest income recognized | 3 | 78 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans with no related allowance recorded, recorded investment | 192 | 1,142 |
Loans with no related allowance recorded, unpaid principal balance | 707 | 2,202 |
Loans with no related allowance recorded, average recorded investment | 161 | 411 |
Loans with no related allowance recorded, interest income recognized | ||
Loans with an allowance recorded, recorded investment | 28 | 34 |
Loans with an allowance recorded, unpaid principal balance | 28 | 34 |
Related allowance | 28 | 34 |
Loans with an allowance recorded, average recorded investment | 1,851 | 1,882 |
Loans with an allowance recorded, interest income recognized | 2 | 78 |
Recorded investment | 220 | 1,176 |
Unpaid principal balance | 735 | 2,236 |
Average recorded investment | 2,012 | 2,293 |
Interest income recognized | 2 | 78 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans with no related allowance recorded, recorded investment | 318 | 664 |
Loans with no related allowance recorded, unpaid principal balance | 489 | 834 |
Loans with no related allowance recorded, average recorded investment | 437 | 559 |
Loans with no related allowance recorded, interest income recognized | ||
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 | ||
Loans with an allowance recorded, interest income recognized | ||
Recorded investment | 318 | 664 |
Unpaid principal balance | 489 | 834 |
Average recorded investment | 437 | 559 |
Interest income recognized | ||
Undevelopment Land Portfolio Segment [Member] | ||
Loans with no related allowance recorded, recorded investment | 474 | 474 |
Loans with no related allowance recorded, unpaid principal balance | 506 | 506 |
Loans with no related allowance recorded, average recorded investment | 474 | 425 |
Loans with no related allowance recorded, interest income recognized | ||
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 | 24 | 48 |
Loans with an allowance recorded, interest income recognized | ||
Recorded investment | 474 | 474 |
Unpaid principal balance | 506 | 506 |
Average recorded investment | 498 | 473 |
Interest income recognized | ||
Real Estate Mortgage Portfolio Segment [Member] | ||
Loans with no related allowance recorded, recorded investment | 1,627 | 5,052 |
Loans with no related allowance recorded, unpaid principal balance | 2,064 | 5,530 |
Loans with no related allowance recorded, average recorded investment | 2,853 | 2,909 |
Loans with no related allowance recorded, interest income recognized | ||
Loans with an allowance recorded, recorded investment | 14 | 14 |
Loans with an allowance recorded, unpaid principal balance | 14 | 14 |
Related allowance | 14 | 14 |
Loans with an allowance recorded, average recorded investment | 911 | 5 |
Loans with an allowance recorded, interest income recognized | 1 | |
Recorded investment | 1,641 | 5,066 |
Unpaid principal balance | 2,078 | 5,544 |
Average recorded investment | 3,764 | 2,914 |
Interest income recognized | 1 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans with no related allowance recorded, recorded investment | 138 | 52 |
Loans with no related allowance recorded, unpaid principal balance | 138 | 53 |
Loans with no related allowance recorded, average recorded investment | 35 | 110 |
Loans with no related allowance recorded, interest income recognized | ||
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 | ||
Loans with an allowance recorded, interest income recognized | ||
Recorded investment | 138 | 52 |
Unpaid principal balance | 138 | 53 |
Average recorded investment | 35 | 110 |
Interest income recognized | ||
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans with no related allowance recorded, recorded investment | 586 | 3,332 |
Loans with no related allowance recorded, unpaid principal balance | 1,023 | 3,789 |
Loans with no related allowance recorded, average recorded investment | 1,503 | 1,678 |
Loans with no related allowance recorded, interest income recognized | ||
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 | 897 | |
Loans with an allowance recorded, interest income recognized | ||
Recorded investment | 586 | 3,332 |
Unpaid principal balance | 1,023 | 3,789 |
Average recorded investment | 2,400 | 1,678 |
Interest income recognized | ||
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans with no related allowance recorded, recorded investment | 760 | 1,637 |
Loans with no related allowance recorded, unpaid principal balance | 760 | 1,657 |
Loans with no related allowance recorded, average recorded investment | 1,242 | 935 |
Loans with no related allowance recorded, interest income recognized | ||
Loans with an allowance recorded, recorded investment | 14 | 14 |
Loans with an allowance recorded, unpaid principal balance | 14 | 14 |
Related allowance | 14 | 14 |
Loans with an allowance recorded, average recorded investment | 14 | 5 |
Loans with an allowance recorded, interest income recognized | 1 | |
Recorded investment | 774 | 1,651 |
Unpaid principal balance | 774 | 1,671 |
Average recorded investment | 1,256 | 940 |
Interest income recognized | 1 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans with no related allowance recorded, recorded investment | ||
Loans with no related allowance recorded, unpaid principal balance | ||
Loans with no related allowance recorded, average recorded investment | ||
Loans with no related allowance recorded, interest income recognized | ||
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 | ||
Loans with an allowance recorded, interest income recognized | ||
Recorded investment | ||
Unpaid principal balance | ||
Average recorded investment | ||
Interest income recognized | ||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans with no related allowance recorded, recorded investment | 143 | 31 |
Loans with no related allowance recorded, unpaid principal balance | 143 | 31 |
Loans with no related allowance recorded, average recorded investment | 73 | 186 |
Loans with no related allowance recorded, interest income recognized | ||
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 | ||
Loans with an allowance recorded, interest income recognized | ||
Recorded investment | 143 | 31 |
Unpaid principal balance | 143 | 31 |
Average recorded investment | 73 | 186 |
Interest income recognized | ||
Consumer Portfolio Segment [Member] | ||
Loans with no related allowance recorded, recorded investment | ||
Loans with no related allowance recorded, unpaid principal balance | ||
Loans with no related allowance recorded, average recorded investment | 23 | |
Loans with no related allowance recorded, interest income recognized | ||
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 | 46 | |
Loans with an allowance recorded, interest income recognized | ||
Recorded investment | ||
Unpaid principal balance | ||
Average recorded investment | 23 | 46 |
Interest income recognized |
Note 5 - Loans - Non-accrual Lo
Note 5 - Loans - Non-accrual Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Non-accrual loans | $ 2,611 | $ 6,511 |
Commercial and Industrial Portfolio Segment [Member] | ||
Non-accrual loans | 192 | 321 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Non-accrual loans | 318 | 664 |
Undevelopment Land Portfolio Segment [Member] | ||
Non-accrual loans | 474 | 474 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Non-accrual loans | 1,627 | 5,052 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Non-accrual loans | 138 | 52 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Non-accrual loans | 586 | 3,332 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Non-accrual loans | 760 | 1,637 |
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 | 143 | 31 |
Consumer Portfolio Segment [Member] | ||
Non-accrual loans |
Note 5 - Loans - Aging of the R
Note 5 - Loans - Aging of the Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Current | $ 2,537,627 | $ 2,397,731 | |
Past due | 10,544 | 11,839 | |
Loans | 2,548,171 | 2,409,570 | $ 2,305,375 |
Recorded investment greater than 90 days and accruing | 745 | 2 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 5,112 | 4,151 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 2,076 | 1,175 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 3,356 | 6,513 | |
Commercial and Industrial Portfolio Segment [Member] | |||
Current | 832,923 | 776,118 | |
Past due | 601 | 2,896 | |
Loans | 833,524 | 779,014 | 736,841 |
Recorded investment greater than 90 days and accruing | 12 | ||
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 197 | 2,571 | |
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 200 | 4 | |
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 204 | 321 | |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Current | 224,732 | 194,936 | |
Past due | 318 | 976 | |
Loans | 225,050 | 195,912 | 192,348 |
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 | 312 | ||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 318 | 664 | |
Undevelopment Land Portfolio Segment [Member] | |||
Current | 29,552 | 18,514 | |
Past due | 540 | 474 | |
Loans | 30,092 | 18,988 | 21,496 |
Recorded investment greater than 90 days and accruing | |||
Undevelopment Land Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 66 | ||
Undevelopment Land Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | |||
Undevelopment Land Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 474 | 474 | |
Real Estate Mortgage Portfolio Segment [Member] | |||
Current | 1,402,362 | 1,369,464 | |
Past due | 9,085 | 7,324 | |
Loans | 1,411,447 | 1,376,788 | 1,319,520 |
Recorded investment greater than 90 days and accruing | 733 | 2 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Current | 586,884 | 594,242 | |
Past due | 1,726 | 660 | |
Loans | 588,610 | 594,902 | |
Recorded investment greater than 90 days and accruing | 99 | ||
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Current | 421,143 | 394,623 | |
Past due | 5,230 | 4,062 | |
Loans | 426,373 | 398,685 | |
Recorded investment greater than 90 days and accruing | 535 | ||
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Current | 274,547 | 259,994 | |
Past due | 1,470 | 2,116 | |
Loans | 276,017 | 262,110 | |
Recorded investment greater than 90 days and accruing | |||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Current | 49,321 | 56,938 | |
Past due | 179 | 172 | |
Loans | 49,500 | 57,110 | |
Recorded investment greater than 90 days and accruing | |||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Current | 70,467 | 63,667 | |
Past due | 480 | 314 | |
Loans | 70,947 | 63,981 | |
Recorded investment greater than 90 days and accruing | 99 | 2 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 4,849 | 1,494 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Investment [Member] | |||
Past due | 1,382 | 608 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Past due | 2,732 | 455 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | One to Four Family Residential [Member] | |||
Past due | 374 | 172 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity First Lien [Member] | |||
Past due | 179 | 172 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity Junior Lien [Member] | |||
Past due | 182 | 87 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 1,876 | 776 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Investment [Member] | |||
Past due | 107 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Past due | 1,377 | 275 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family Residential [Member] | |||
Past due | 336 | 307 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity First Lien [Member] | |||
Past due | |||
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity Junior Lien [Member] | |||
Past due | 56 | 194 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 2,360 | 5,054 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Investment [Member] | |||
Past due | 237 | 52 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Past due | 1,121 | 3,332 | |
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 | 760 | 1,637 | |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity First Lien [Member] | |||
Past due | |||
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity Junior Lien [Member] | |||
Past due | 242 | 33 | |
Consumer Portfolio Segment [Member] | |||
Current | 48,058 | 38,699 | |
Past due | 169 | ||
Loans | 48,058 | 38,868 | $ 35,170 |
Recorded investment greater than 90 days and accruing | |||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 86 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 83 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due |
Note 5 - Loans - Internally Ass
Note 5 - Loans - Internally Assigned Risk Grades of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Loans | $ 2,548,171 | $ 2,409,570 | $ 2,305,375 |
Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 833,524 | 779,014 | 736,841 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | 225,050 | 195,912 | 192,348 |
Undevelopment Land Portfolio Segment [Member] | |||
Loans | 30,092 | 18,988 | 21,496 |
Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 1,411,447 | 1,376,788 | 1,319,520 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 588,610 | 594,902 | |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 426,373 | 398,685 | |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 276,017 | 262,110 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 49,500 | 57,110 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 70,947 | 63,981 | |
Consumer Portfolio Segment [Member] | |||
Loans | 48,058 | 38,868 | $ 35,170 |
Pass [Member] | |||
Loans | 2,493,020 | 2,356,343 | |
Pass [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 803,073 | 751,628 | |
Pass [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | 220,532 | 195,248 | |
Pass [Member] | Undevelopment Land Portfolio Segment [Member] | |||
Loans | 29,618 | 18,484 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 1,391,739 | 1,352,236 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 586,543 | 591,232 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 411,722 | 383,455 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 273,537 | 256,968 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 49,500 | 57,110 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 70,437 | 63,471 | |
Pass [Member] | Consumer Portfolio Segment [Member] | |||
Loans | 48,058 | 38,747 | |
Special Mention [Member] | |||
Loans | 28,354 | 27,155 | |
Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 11,516 | 12,032 | |
Special Mention [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | 4,200 | ||
Special Mention [Member] | Undevelopment Land Portfolio Segment [Member] | |||
Loans | |||
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 12,638 | 15,006 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 1,815 | 3,599 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 9,030 | 8,683 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 1,544 | 2,477 | |
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 | 249 | 247 | |
Special Mention [Member] | Consumer Portfolio Segment [Member] | |||
Loans | 117 | ||
Substandard [Member] | Performing Financial Instruments [Member] | |||
Loans | 23,399 | 18,690 | |
Substandard [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 3,398 | 7,382 | |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 18,703 | 14,178 | |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 232 | 1,176 | |
Substandard [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | |||
Substandard [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 318 | 664 | |
Substandard [Member] | Undevelopment Land Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 30 | ||
Substandard [Member] | Undevelopment Land Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 474 | 474 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 4,696 | 4,478 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Commercial Investment [Member] | |||
Loans | 15 | 19 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Loans | 4,500 | 3,215 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | One to Four Family Residential [Member] | |||
Loans | 162 | 1,014 | |
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 | 19 | 230 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 2,374 | 5,068 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Commercial Investment [Member] | |||
Loans | 237 | 52 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Loans | 1,121 | 3,332 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | One to Four Family Residential [Member] | |||
Loans | 774 | 1,651 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity First Lien [Member] | |||
Loans | |||
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity Junior Lien [Member] | |||
Loans | 242 | 33 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 4 | ||
Substandard [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | |||
Doubtful [Member] | |||
Loans | 2,548,171 | 2,409,570 | |
Doubtful [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 833,524 | 779,014 | |
Doubtful [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | 225,050 | 195,912 | |
Doubtful [Member] | Undevelopment Land Portfolio Segment [Member] | |||
Loans | 30,092 | 18,988 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 1,411,447 | 1,376,788 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 588,610 | 594,902 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 426,373 | 398,685 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 276,017 | 262,110 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 49,500 | 57,110 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 70,947 | 63,981 | |
Doubtful [Member] | Consumer Portfolio Segment [Member] | |||
Loans | $ 48,058 | $ 38,868 |
Note 6 - Premises and Equipme_3
Note 6 - Premises and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment, Gross, Ending Balance | $ 80,234 | $ 75,049 | |
Depreciation, Total | 3,700 | 3,500 | $ 3,200 |
Land [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | 9,664 | 8,908 | |
Land [Member] | Previously Reported [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | 7,118 | ||
Building and Building Improvements [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | 47,726 | 45,285 | |
Building and Building Improvements [Member] | Previously Reported [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | 47,924 | ||
Furniture and Equipment [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | $ 21,793 | 19,360 | |
Furniture and Equipment [Member] | Previously Reported [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | $ 18,511 |
Note 6 - Premises and Equipme_4
Note 6 - Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Premises and equipment, gross | $ 80,234 | $ 75,049 |
Accumulated depreciation and amortization | (35,470) | (33,394) |
Total premises and equipment | 44,764 | 41,655 |
Land [Member] | ||
Premises and equipment, gross | 9,664 | 8,908 |
Building and Building Improvements [Member] | ||
Premises and equipment, gross | 47,726 | 45,285 |
Furniture and Equipment [Member] | ||
Premises and equipment, gross | 21,793 | 19,360 |
Construction in Progress [Member] | ||
Premises and equipment, gross | $ 1,051 | $ 1,496 |
Note 7 - Other Assets (Details
Note 7 - Other Assets (Details Textual) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Servicing Asset at Fair Value, Amount, Ending Balance | $ 3.6 | $ 3.1 |
Principal Amount Outstanding on Loans Managed and Securitized, Total | $ 327.9 | $ 344.5 |
Note 7 - Other Assets - Summary
Note 7 - Other Assets - Summary of Major Components of Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash surrender value of life insurance other than BOLI | $ 15,029 | $ 16,213 | |
Net deferred tax asset | 10,193 | 9,206 | |
Investments in income tax credit related ventures | 4,537 | 3,216 | |
Prepaid assets | 3,072 | 2,856 | |
Other short term receivables | 1,939 | 2,215 | |
Core deposit intangible | 1,057 | 1,225 | |
Mortgage servicing rights (MSRs) | 1,022 | 875 | $ 921 |
OREO and other foreclosed property | 1,018 | 2,640 | |
Goodwill, Ending Balance | 682 | 682 | |
Other | 8,362 | 9,378 | |
Total | $ 46,911 | $ 48,506 |
Note 7 - Other Assets - Changes
Note 7 - Other Assets - Changes in the Net Carrying Amount of MSRs (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance at January 1 | $ 875 | $ 921 |
Originations | 302 | 225 |
Amortization | (155) | (271) |
Balance at December 31 | $ 1,022 | $ 875 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 17.80% | 31.10% | 27.10% | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 35.00% | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 5,900 | $ 5,900 | ||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 846 | $ 607 | $ 866 | |
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net, Total | $ 1,700 | |||
Deferred Tax Assets, Valuation Allowance, Total | 326 | 154 | 326 | |
Unrecognized Tax Benefits, Including Interest and Penalties | $ 29 | 29 | 29 | |
Accounting Standards Update 2016-09 [Member] | ||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 549 | $ 1,500 |
Note 8 - Income Taxes - Compone
Note 8 - Income Taxes - Components of Income Tax Expense (Benefit) from Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current income tax expense | |||||||||||||||
Federal | $ 11,567 | $ 12,622 | $ 14,270 | ||||||||||||
State | 732 | 546 | 698 | ||||||||||||
Total current income tax expense | 12,299 | 13,168 | 14,968 | ||||||||||||
Deferred income tax expense (benefit) | |||||||||||||||
Federal | (52) | 3,783 | 192 | ||||||||||||
State | (44) | (4) | 36 | ||||||||||||
Total deferred income tax expense (benefit) | (96) | 3,779 | 228 | ||||||||||||
Change in valuation allowance | (172) | 192 | 48 | ||||||||||||
Total income tax expense | $ 2,265 | $ 3,555 | $ 3,159 | $ 3,052 | $ 5,542 | $ 4,096 | $ 4,359 | $ 3,142 | $ 4,009 | $ 3,883 | $ 3,676 | $ 3,676 | $ 12,031 | $ 17,139 | $ 15,244 |
Note 8 - Income Taxes - Compo_2
Note 8 - Income Taxes - Components of Income Tax (Benefit) Expense Recorded Directly to Stockholders' Equity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Unrealized (loss) gain on securities available for sale | $ (812) | $ (531) | $ (1,171) |
Reclassification adjustment for securities losses realized in income | 81 | ||
Reclassification adjustment for securities impairment realized in income | |||
Unrealized (loss) gain on derivatives | 46 | 112 | 24 |
Minimum pension liability adjustment | 46 | (9) | 1 |
Compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes | (1,705) | ||
Total income tax (benefit) expense recorded directly to stockholders’ equity | $ (720) | $ (347) | $ (2,851) |
Note 8 - Income Taxes - Differe
Note 8 - Income Taxes - Difference Between Statutory and Effective Tax Rates (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
U.S. federal income tax rate | 21.00% | 35.00% | 35.00% |
Tax credits | (1.80%) | (14.40%) | (9.70%) |
Stock based compensation | (0.80%) | (2.60%) | |
Net deferred tax asset remeasurement | (0.50%) | 10.80% | |
Other, net | (0.50%) | 0.90% | 0.30% |
Cash surrender value of life insurance | (0.40%) | (1.50%) | (0.90%) |
Tax exempt interest income | (0.40%) | (1.20%) | (1.20%) |
Amortization/impairment of investments in tax credit partnerships | (0.40%) | (3.40%) | (2.80%) |
State income taxes | 0.80% | 0.70% | 0.80% |
Effective income tax rate | 17.80% | 31.10% | 27.10% |
Note 8 - Income Taxes - Deferre
Note 8 - Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Allowance for loan and lease loss | $ 5,567 | $ 5,422 |
Deferred compensation | 4,703 | 4,148 |
Accrued expenses | 968 | 798 |
Securities | 756 | 121 |
Investments in tax credit partnerships | 543 | 565 |
Loans | 434 | 442 |
Other assets | 181 | 186 |
Write-downs and costs associated with OREO | 7 | 39 |
Total deferred tax assets | 13,159 | 11,721 |
Property and equipment | 1,154 | 764 |
Loan costs | 632 | 588 |
Leases | 336 | 149 |
Other liabilities | 267 | 260 |
Core deposit intangible | 230 | 267 |
Mortgage servicing rights | 193 | 161 |
Total deferred tax liabilities | 2,812 | 2,189 |
Valuation allowance | (154) | (326) |
Net deferred tax asset | $ 10,193 | $ 9,206 |
Note 8 - Income Taxes - Reconci
Note 8 - Income Taxes - Reconciliation of the Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance as of January 1 | $ 40 | $ 40 |
Increases - current year tax positions | 11 | |
Increases - prior year tax positions | ||
Settlements | ||
Lapse of statute of limitations | (11) | (11) |
Balance as of December 31 | $ 29 | $ 40 |
Note 9 - Deposits (Details Text
Note 9 - Deposits (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest Expense, Time Deposits, 250,000 or More | $ 431 | $ 161 | $ 231 |
Related Party Deposit Liabilities | 42,000 | 28,500 | |
Deposit Liabilities Reclassified as Loans Receivable | 886 | 614 | |
Interest-bearing Domestic Deposit, Brokered | $ 29,800 | $ 0 |
Note 9 - Deposits - Composition
Note 9 - Deposits - Composition of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Interest bearing demand | $ 892,867 | $ 833,450 |
Savings | 155,007 | 152,348 |
Money market | 688,744 | 682,226 |
Time deposits of $250,000 or greater | 55,182 | 38,439 |
Other time deposits | 291,533 | 197,135 |
Total interest bearing deposits | $ 2,083,333 | $ 1,903,598 |
Note 9 - Deposits - Maturities
Note 9 - Deposits - Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2,019 | $ 172,321 |
2,020 | 123,832 |
2,021 | 36,365 |
2,022 | 6,429 |
2,023 | 7,668 |
2024 and thereafter | 100 |
Total time deposits | $ 346,715 |
Note 10 - Securities Sold Und_3
Note 10 - Securities Sold Under Agreements to Repurchase and Other Short-term Borrowings - Securities Sold Under Agreements to Repurchase (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Average balance during the year | $ 62,580 | $ 70,187 |
Average interest rate during the year | 0.25% | 0.19% |
Maximum month-end balance during the year | $ 74,725 | $ 75,365 |
Note 11 - Advances From the F_3
Note 11 - Advances From the Federal Home Loan Bank (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Advances from Federal Home Loan Banks, Total | $ 48,177 | $ 49,458 |
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 | 18,200 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 537,000 | |
Correspondent Banks [Member] | ||
Federal Funds Corresponding Banks Maximum Amount Available | 105,000 | |
Federal Funds Purchased [Member] | ||
Cash Management Advance from the FHLB Used in Quarterly Tax Minimization Strategy | $ 0 | $ 150,000 |
Note 11 - Advances From the F_4
Note 11 - Advances From the Federal Home Loan Bank - Contractual Maturities and Average Effective Rates of Outstanding Advances (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
2,019 | $ 31,420 | |
Advance, 2019 | 2,924 | |
2,020 | 2,924 | |
Advance, 2020 | 1,298 | |
2,021 | 1,298 | |
Advance, 2021 | 1,268 | |
Advances from Federal Home Loan Banks, Total | 48,177 | $ 49,458 |
Advance | 48,177 | 49,458 |
Federal Home Loan Bank Advances Outstanding [Member] | ||
2,019 | $ 30,000 | |
Fixed rate, 2019 | 2.54% | |
Advance, 2019 | $ 1,691 | $ 30,000 |
Fixed rate, 2019 | 2.23% | 1.48% |
2,020 | $ 1,691 | $ 30,000 |
Fixed rate, 2020 | 2.23% | 1.48% |
Advance, 2020 | $ 215 | $ 1,741 |
Fixed rate, 2020 | 2.12% | 2.23% |
2,021 | $ 215 | $ 1,741 |
Fixed rate, 2021 | 2.12% | 2.23% |
Advance, 2021 | $ 288 | |
Fixed rate, 2021 | 2.12% | |
Advance, 2024 | $ 2,240 | |
Fixed rate, 2024 | 2.36% | |
Advance, 2024 | $ 4,626 | $ 2,454 |
Fixed rate, 2024 | 2.42% | 2.36% |
Advance, 2025 | $ 4,626 | $ 2,454 |
Fixed rate, 2025 | 2.42% | 2.36% |
Advance, 2025 | $ 8,185 | $ 5,149 |
Fixed rate, 2025 | 1.99% | 2.42% |
Advance, 2026 | $ 8,185 | $ 5,149 |
Fixed rate, 2026 | 1.99% | 2.42% |
Advance, 2026 | $ 8,564 | |
Fixed rate, 2026 | 1.99% | |
Advance, 2028 | $ 1,220 | |
Fixed rate, 2028 | 1.49% | |
Advance, 2028 | $ 1,262 | |
Fixed rate, 2028 | 1.49% | |
Advances from Federal Home Loan Banks, Total | $ 48,177 | $ 49,458 |
Fixed rate | 2.39% | 1.74% |
Advance | $ 48,177 | $ 49,458 |
Fixed rate | 2.39% | 1.74% |
Note 11 - Advances From the F_5
Note 11 - Advances From the Federal Home Loan Bank - Future Minimum Payments (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2,019 | $ 31,420 |
2,020 | 2,924 |
2,021 | 1,298 |
2,022 | 1,268 |
2,023 | 1,297 |
2024 and beyond | $ 9,970 |
Note 12 - Other Comprehensive_3
Note 12 - Other Comprehensive Income (Loss) (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Other Comprehensive Income (Loss), Remeasurement of Deferred Tax Assets and Liabilities | $ 506 | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 35.00% | |||
Stockholders' Equity Attributable to Parent, Ending Balance | $ 366,500 | $ 333,644 | $ 313,872 | $ 286,519 | ||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | (5,330) | (1,781) | [1] | (1,211) | 965 | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Previously Reported [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | (2,278) | |||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | 408 | 193 | [1] | (16) | (60) | |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | Previously Reported [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | 234 | |||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ (220) | (342) | [1] | $ (272) | $ (273) | |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Previously Reported [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ (392) | |||||
[1] | December 31, 2017 AOCI component balances reflect a correction of incorrectly reported year-end balances in Note 12 of the 2017 Form 10-K, which were presented as $(2,278), $234, and $(392) for securities available for sale, cash flow hedges, and minimum pension liability, respectively. |
Note 12 - Other Comprehensive_4
Note 12 - Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Balance | $ 333,644 | $ 313,872 | $ 286,519 | ||
Other comprehensive loss, net of tax benefit | (2,706) | (431) | (2,131) | ||
Reclassification adjustment for adoption of ASU 2018-02 | |||||
Balance | 366,500 | 333,644 | 313,872 | ||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||||
Balance | (1,781) | [1] | (1,211) | 965 | |
Other comprehensive (loss) income before reclassifications | (3,053) | (721) | (2,176) | ||
Amounts reclassified from accumulated other comprehensive income | 151 | ||||
Other comprehensive loss, net of tax benefit | (3,053) | (570) | (2,176) | ||
Reclassification adjustment for adoption of ASU 2018-02 | (496) | ||||
Balance | (5,330) | (1,781) | [1] | (1,211) | |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||||
Balance | 193 | [1] | (16) | (60) | |
Other comprehensive (loss) income before reclassifications | 174 | 209 | 44 | ||
Amounts reclassified from accumulated other comprehensive income | |||||
Other comprehensive loss, net of tax benefit | 174 | 209 | 44 | ||
Reclassification adjustment for adoption of ASU 2018-02 | 41 | ||||
Balance | 408 | 193 | [1] | (16) | |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||
Balance | (342) | [1] | (272) | (273) | |
Other comprehensive (loss) income before reclassifications | 173 | (70) | 1 | ||
Amounts reclassified from accumulated other comprehensive income | |||||
Other comprehensive loss, net of tax benefit | 173 | (70) | 1 | ||
Reclassification adjustment for adoption of ASU 2018-02 | (51) | ||||
Balance | (220) | (342) | [1] | (272) | |
AOCI Attributable to Parent [Member] | |||||
Balance | (1,930) | [1] | (1,499) | 632 | |
Other comprehensive (loss) income before reclassifications | (2,706) | (582) | (2,131) | ||
Amounts reclassified from accumulated other comprehensive income | 151 | ||||
Other comprehensive loss, net of tax benefit | (2,706) | (431) | (2,131) | ||
Reclassification adjustment for adoption of ASU 2018-02 | (506) | ||||
Balance | $ (5,142) | $ (1,930) | [1] | $ (1,499) | |
[1] | December 31, 2017 AOCI component balances reflect a correction of incorrectly reported year-end balances in Note 12 of the 2017 Form 10-K, which were presented as $(2,278), $234, and $(392) for securities available for sale, cash flow hedges, and minimum pension liability, respectively. |
Note 12 - Other Comprehensive_5
Note 12 - Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income tax expense | $ 2,265 | $ 3,555 | $ 3,159 | $ 3,052 | $ 5,542 | $ 4,096 | $ 4,359 | $ 3,142 | $ 4,009 | $ 3,883 | $ 3,676 | $ 3,676 | $ 12,031 | $ 17,139 | $ 15,244 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||||||
Income tax expense | 81 | ||||||||||||||
Reclassifications, net of income taxes | (151) | ||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||||||||||||||
Realized loss on sale of available for sale securities | $ (232) |
Note 13 - Preferred Stock and_2
Note 13 - Preferred Stock and Common Stock (Details Textual) - $ / shares $ / shares in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2015 |
Preferred Stock, No Par Value | $ 0 | $ 0 | |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 | |
Preferred Stock, Shares Issued, Total | 0 | 0 | |
Common Stock, Shares Authorized | 40,000,000 | 40,000,000 | 20,000,000 |
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 - Net Income Per Shar_3
Note 15 - Net Income Per Share and Common Stock Dividends (Details Textual) - Stock Appreciation Rights (SARs) [Member] shares in Thousands | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 146 |
Minimum [Member] | |
Share Price | $ 35.90 |
Maximum [Member] | |
Share Price | $ 40 |
Note 15 - Net Income Per Shar_4
Note 15 - Net Income Per Share and Common Stock Dividends - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net income, basic and diluted | $ 14,658 | $ 13,876 | $ 13,579 | $ 13,404 | $ 4,946 | $ 11,704 | $ 10,602 | $ 10,791 | $ 10,616 | $ 10,467 | $ 10,109 | $ 9,835 | $ 55,517 | $ 38,043 | $ 41,027 |
Average shares outstanding, basic (in shares) | 22,619 | 22,532 | 22,356 | ||||||||||||
Effect of dilutive shares (in shares) | 325 | 451 | 436 | ||||||||||||
Average shares outstanding including dilutive shares (in shares) | 22,944 | 22,983 | 22,792 | ||||||||||||
Net income per share, basic (in dollars per share) | $ 0.65 | $ 0.61 | $ 0.60 | $ 0.59 | $ 0.22 | $ 0.52 | $ 0.47 | $ 0.48 | $ 0.47 | $ 0.47 | $ 0.45 | $ 0.44 | $ 2.45 | $ 1.69 | $ 1.84 |
Net income per share, diluted (in dollars per share) | $ 0.64 | $ 0.60 | $ 0.59 | $ 0.58 | $ 0.22 | $ 0.51 | $ 0.46 | $ 0.47 | $ 0.46 | $ 0.46 | $ 0.45 | $ 0.44 | $ 2.42 | $ 1.66 | $ 1.80 |
Note 16 - Employee Benefit Pl_3
Note 16 - Employee Benefit Plans (Details Textual) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | ||
Defined Benefit Plan, Employer Additional Contribution of Stock, Percent | 2.00% | ||
Defined Contribution Plan, Cost | $ 2,200 | $ 2,000 | $ 1,900 |
Defined Contribution Plan, Shares, Held in Employee Stock Ownership and Profit Sharing Plan | 568 | 577 | |
Deferred Compensation Arrangement with Individual, Contributions by Employer | $ 250 | $ 232 | $ 293 |
Deferred Compensation Arrangement with Individual, Recorded Liability | $ 8,600 | 8,200 | |
Defined Benefit Plan, Number of Employees Covered | 3 | ||
Defined Benefit Plan, Number of Retired Employees Covered | 1 | ||
Deferred Compensation Arrangement with Individual, Requisite Service Period | 25 years | ||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 2,100 | $ 2,100 |
Note 16 - Employee Benefit Pl_4
Note 16 - Employee Benefit Plans - Benefits Expected to Be Paid (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2,019 | $ 84 |
2,020 | 84 |
2,021 | |
2,022 | |
2,023 | |
Beyond 2,023 | 3,278 |
Total future payments | $ 3,446 |
Note 17 - Stock-based Compens_3
Note 17 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Plans | 1 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 500,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 647,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | |||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 846 | $ 607 | $ 866 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 5,200 | |||||
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 | $ (154) | (216) | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and SARs, Exercisable Intrinsic Value | $ 1,700 | 1,900 | $ 4,200 | |||
Common Stock, Capital Shares Reserved for Future Issuance | 117,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expected Shares to be Awarded | 181,000 | |||||
Accounting Standards Update 2016-09 [Member] | ||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 549 | $ 1,500 | ||||
Employee Stock Option [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||
Employee Stock Option [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||
Employee Stock Option [Member] | Share-based Compensation Award, Tranche Five [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||
Employee Stock Option [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||
Employee Stock Option [Member] | Share-based Compensation Award, Tranche Four [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, Number of Shares Available for Grant | [1] | 647,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 6.07 | $ 6.34 | $ 3.56 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 731,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance | $ 22.42 | |||||
Common Stock, Capital Shares Reserved for Future Issuance | [2] | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | [1] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 35.89 | $ 44.85 | $ 25.78 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 40,000 | 29,000 | 51,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance | $ 32.09 | $ 27.62 | $ 21.57 | $ 18.98 | ||
Common Stock, Capital Shares Reserved for Future Issuance | 110,000 | |||||
Restricted Stock [Member] | Director [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 6,525 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Fair Value Granted | $ 247 | |||||
Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | [1] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Sharebased Compensation Arrangement by Share-based Payment Award Post Vesting Holding Period | 1 year | |||||
Share-based Compensation Arrangement by Share-based Payment Award Liquidity Discount | 4.30% | 5.10% | 4.50% | |||
Common Stock, Capital Shares Reserved for Future Issuance | [3] | |||||
Performance Shares [Member] | Minimum [Member] | ||||||
Common Stock, Capital Shares Reserved for Future Issuance | 0 | |||||
Performance Shares [Member] | Maximum [Member] | ||||||
Common Stock, Capital Shares Reserved for Future Issuance | 203,000 | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | [1] | |||||
Common Stock, Capital Shares Reserved for Future Issuance | 7,000 | |||||
Restricted Stock Units (RSUs) [Member] | Director [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||||
[1] | Under the 2015 Omnibus Equity Compensation Plan, shares of stock are authorized for issuance as incentive and nonqualified stock options, SARs, restricted stock, and restricted stock units | |||||
[2] | At December 31, 2018, approximately 731 thousand SARs were outstanding at a weighted average grant price of $22.42. The number of shares to be issued upon exercise will be determined based on the difference between the grant price and the market price at the date of exercise. | |||||
[3] | The number of shares to be issued is dependent upon Bancorp achieving certain predefined performance targets and ranges from zero shares to approximately 203 thousand shares. As of December 31, 2018, the expected shares to be awarded are approximately 181 thousand. |
Note 17 - Stock-based Compens_4
Note 17 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Stock-based compensation expense before income taxes | $ 4,027 | $ 2,892 | $ 2,473 |
Less: deferred tax benefit | (846) | (607) | (866) |
Reduction of net income | $ 3,181 | $ 2,285 | $ 1,607 |
Note 17 - Stock-based Compens_5
Note 17 - Stock-based Compensation - Fair Value Assumptions (Details) - Stock Options and Stock Appreciation Rights SARs [Member] | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Dividend yield | 2.56% | 2.72% | 2.94% |
Expected volatility | 20.17% | 19.47% | 19.31% |
Risk free interest rate | 2.96% | 2.29% | 1.70% |
Expected life of SARs (Year) | 7 years | 7 years | 7 years 109 days |
Note 17 - Stock-based Compens_6
Note 17 - Stock-based Compensation - Stock Option and SARs Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Number of SARs outstanding (in shares) | 731 | ||
Options and SARs (in shares) | (731) | ||
Award Vested and Exercisable [Member] | |||
Number of SARs outstanding (in shares) | 492 | 490 | 475 |
Exercise price (in dollars per share) | $ 17.69 | $ 16.46 | $ 15.72 |
Aggregate intrinsic value | $ 7,505 | $ 10,408 | $ 14,820 |
Weighted average fair value (in dollars per share) | $ 3.21 | $ 3.16 | $ 3.16 |
Weighted average remaining contractual life (Year) | 3 years 292 days | 4 years | 4 years 109 days |
Options and SARs (in shares) | (492) | (490) | (475) |
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) | $ 40 | $ 33.08 | $ 24.56 |
Award Unvested [Member] | |||
Number of SARs outstanding (in shares) | 239 | 214 | 260 |
Exercise price (in dollars per share) | $ 32.15 | $ 26.46 | $ 21.53 |
Aggregate intrinsic value | $ 917 | $ 2,515 | $ 6,623 |
Weighted average fair value (in dollars per share) | $ 5.09 | $ 4.17 | $ 3.43 |
Weighted average remaining contractual life (Year) | 8 years | 7 years 255 days | 7 years 292 days |
Options and SARs (in shares) | (239) | (214) | (260) |
Award Unvested [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | $ 19.37 | $ 15.26 | $ 15.24 |
Award Unvested [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | $ 40 | $ 40 | $ 33.08 |
Award Outstanding [Member] | |||
Number of SARs outstanding (in shares) | 731 | 704 | 735 |
Exercise price (in dollars per share) | $ 22.42 | $ 19.51 | $ 17.78 |
Aggregate intrinsic value | $ 8,422 | $ 12,923 | $ 21,443 |
Weighted average fair value (in dollars per share) | $ 3.82 | $ 3.47 | $ 3.26 |
Weighted average remaining contractual life (Year) | 5 years 73 days | 5 years 36 days | 5 years 182 days |
Options and SARs (in shares) | (731) | (704) | (735) |
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 | $ 40 | $ 33.08 |
Award Granted [Member] | |||
Number of SARs outstanding (in shares) | 100 | 46 | |
Exercise price (in dollars per share) | $ 37.75 | $ 40 | |
Weighted average fair value (in dollars per share) | $ 6.07 | $ 6.34 | |
Options and SARs (in shares) | (100) | (46) | |
Award Granted [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | $ 35.90 | $ 40 | |
Award Granted [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | $ 39.32 | $ 40 | |
Award Exercised [Member] | |||
Number of SARs outstanding (in shares) | 73 | 77 | |
Exercise price (in dollars per share) | $ 15.32 | $ 15.41 | |
Aggregate intrinsic value | $ 1,654 | $ 1,855 | |
Weighted average fair value (in dollars per share) | $ 3.43 | $ 3.18 | |
Weighted average remaining contractual life (Year) | |||
Options and SARs (in shares) | (73) | (77) | |
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) | $ 19.37 | $ 17.89 | |
Award Forfeited [Member] | |||
Number of SARs outstanding (in shares) | |||
Exercise price (in dollars per share) | |||
Aggregate intrinsic value | |||
Weighted average fair value (in dollars per share) | |||
Weighted average remaining contractual life (Year) | |||
Options and SARs (in shares) | |||
Award Forfeited [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | |||
Award Forfeited [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | |||
Award Vested [Member] | |||
Number of SARs outstanding (in shares) | 75 | ||
Exercise price (in dollars per share) | $ 23.38 | ||
Aggregate intrinsic value | $ 776 | ||
Weighted average fair value (in dollars per share) | $ 3.77 | ||
Weighted average remaining contractual life (Year) | |||
Options and SARs (in shares) | (75) | ||
Award Vested [Member] | Minimum [Member] | |||
Exercise price (in dollars per share) | $ 15.26 | ||
Award Vested [Member] | Maximum [Member] | |||
Exercise price (in dollars per share) | $ 40 |
Note 17 - Stock-based Compens_7
Note 17 - Stock-based Compensation - Options and SARS Outstanding (Details) shares in Thousands | Dec. 31, 2018$ / sharesshares |
Number of SARs outstanding (in shares) | 731 |
SARs exercisable (in shares) | 492 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 22.42 |
Stock Options and Stock Appreciation Rights SARs Expiriing in 2019 [Member] | |
Number of SARs outstanding (in shares) | 24 |
SARs exercisable (in shares) | 24 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 14.76 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2020 [Member] | |
Number of SARs outstanding (in shares) | 44 |
SARs exercisable (in shares) | 44 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 14.02 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2021 [Member] | |
Number of SARs outstanding (in shares) | 74 |
SARs exercisable (in shares) | 74 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 15.86 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2022 [Member] | |
Number of SARs outstanding (in shares) | 117 |
SARs exercisable (in shares) | 117 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 15.25 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2023 [Member] | |
Number of SARs outstanding (in shares) | 80 |
SARs exercisable (in shares) | 80 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 15.26 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2024 [Member] | |
Number of SARs outstanding (in shares) | 83 |
SARs exercisable (in shares) | 64 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 19.37 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2025 [Member] | |
Number of SARs outstanding (in shares) | 76 |
SARs exercisable (in shares) | 45 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 22.99 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2026 [Member] | |
Number of SARs outstanding (in shares) | 88 |
SARs exercisable (in shares) | 35 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 25.84 |
Stock Appreciation Rights SARs Expiring in 2027 [Member] | |
Number of SARs outstanding (in shares) | 45 |
SARs exercisable (in shares) | 9 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 40 |
Stock Appreciation Rights SARs Expiring in 2028 [Member] | |
Number of SARs outstanding (in shares) | 100 |
SARs exercisable (in shares) | |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 37.75 |
Note 17 - Stock-based Compens_8
Note 17 - Stock-based Compensation - Restricted Stock (Details) - Restricted Stock [Member] - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Unvested (in shares) | 119 | 145 | 156 |
Unvested, grant date weighted average cost (in dollars per share) | $ 27.62 | $ 21.57 | $ 18.98 |
Awarded (in shares) | 40 | 29 | 51 |
Shares awarded, grant date weighted average cost (in dollars per share) | $ 35.89 | $ 44.85 | $ 25.78 |
Restrictions lapsed and shares released to employees/directors (in shares) | (44) | (47) | (49) |
Restrictions lapsed and shares released to employees/directors weighted average cost (in dollars per share) | $ 23.62 | $ 19.79 | $ 17.98 |
Forfeited (in shares) | (5) | (8) | (13) |
Shares forfeited, grant date weighted average cost (in dollars per share) | $ 31.35 | $ 25.18 | $ 20.69 |
Unvested (in shares) | 110 | 119 | 145 |
Unvested, grant date weighted average cost (in dollars per share) | $ 32.09 | $ 27.62 | $ 21.57 |
Note 17 - Stock-based Compens_9
Note 17 - Stock-based Compensation - Performance-based Restricted Stock Units (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Shares available for future issuance (in shares) | 647,000 | |||
Performance Shares [Member] | ||||
Vesting period (Year) | 3 years | |||
Shares available for future issuance (in shares) | [1] | |||
Performance Shares [Member] | Executive Officer [Member] | ||||
Vesting period (Year) | 3 years | 3 years | 3 years | |
Shares awarded, grant date weighted average cost (in dollars per share) | $ 31.54 | $ 35.66 | $ 22.61 | |
Shares available for future issuance (in shares) | 50,352 | 61,893 | 69,161 | |
[1] | Under the 2015 Omnibus Equity Compensation Plan, shares of stock are authorized for issuance as incentive and nonqualified stock options, SARs, restricted stock, and restricted stock units |
Note 17 - Share-based Compensat
Note 17 - Share-based Compensation - Number of Shares to Be Issued Upon Exercise of Outstanding Stock-based Awards (Details) | Dec. 31, 2018$ / sharesshares | |
Number of shares to be issued upon exercise (in shares) | 117,000 | |
Weighted average exercise price (in dollars per share) | $ / shares | ||
Shares available for future issuance (in shares) | 647,000 | |
Stock Appreciation Rights (SARs) [Member] | ||
Number of shares to be issued upon exercise (in shares) | [1] | |
Weighted average exercise price (in dollars per share) | $ / shares | [1] | |
Shares available for future issuance (in shares) | 647,000 | [2] |
Restricted Stock [Member] | ||
Number of shares to be issued upon exercise (in shares) | 110,000 | |
Weighted average exercise price (in dollars per share) | $ / shares | ||
Shares available for future issuance (in shares) | [2] | |
Performance Shares [Member] | ||
Number of shares to be issued upon exercise (in shares) | [3] | |
Weighted average exercise price (in dollars per share) | $ / shares | ||
Shares available for future issuance (in shares) | [2] | |
Restricted Stock Units (RSUs) [Member] | ||
Number of shares to be issued upon exercise (in shares) | 7,000 | |
Weighted average exercise price (in dollars per share) | $ / shares | ||
Shares available for future issuance (in shares) | [2] | |
[1] | At December 31, 2018, approximately 731 thousand SARs were outstanding at a weighted average grant price of $22.42. The number of shares to be issued upon exercise will be determined based on the difference between the grant price and the market price at the date of exercise. | |
[2] | Under the 2015 Omnibus Equity Compensation Plan, shares of stock are authorized for issuance as incentive and nonqualified stock options, SARs, restricted stock, and restricted stock units | |
[3] | The number of shares to be issued is dependent upon Bancorp achieving certain predefined performance targets and ranges from zero shares to approximately 203 thousand shares. As of December 31, 2018, the expected shares to be awarded are approximately 181 thousand. |
Note 18 - Dividend (Details Tex
Note 18 - Dividend (Details Textual) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Regulatory Dividend Restrictions, Prior Period Considered for Net Income | 2 years |
Regulatory Dividend Restrictions, Period Considered for Deduction of Dividend Already Paid for, Net Income | 2 years |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 84.4 |
Note 19 - Commitments and Con_3
Note 19 - Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loss Contingency Accrual, Ending Balance | $ 350 | ||
Operating Leases, Rent Expense, Net, Total | 2,000 | $ 1,900 | $ 1,800 |
Performance Guarantee [Member] | |||
Guarantee Obligation, Estimated Payment Under Default on Contract | $ 1,600 | ||
Minimum [Member] | |||
Guarantee Obligations, Agreement Term | 30 days | ||
Maximum [Member] | |||
Guarantee Obligations, Agreement Term | 330 days | ||
Standby Letters of Credit [Member] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $ 20,900 | 14,800 | |
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 | $ 834,600 | $ 688,300 |
Note 19 - Commitments and Con_4
Note 19 - Commitments and Contingent Liabilities - Future Minimum Lease Commitments (Details) $ in Thousands | Dec. 31, 2018USD ($) |
One year or less | $ 2,016 |
One to three years | 3,918 |
Three to five years | 3,953 |
After five years | 13,349 |
Total | $ 23,236 |
Note 20 - Assets and Liabilit_3
Note 20 - Assets and Liabilities Measured and Reported at Fair Value (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Impaired Financing Receivable, Related Allowance | $ 42 | $ 48 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 42 | 48 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | 1,000 | 2,600 | |
Impaired Loans [Member] | Appraisal Discount Method [Member] | |||
Assets, Fair Value Disclosure | 925 | 2,600 | |
Impaired Financing Receivable, Related Allowance | 42 | 48 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 967 | 2,600 | |
Mortgage Servicing Rights [Member] | |||
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | |||
Assets, Fair Value Disclosure | 438,030 | 575,103 | [1] |
Interest Rate Derivative Assets, at Fair Value | 1,035 | 579 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets, Fair Value Disclosure | 438,030 | 425,119 | [1] |
Interest Rate Derivative Assets, at Fair Value | 1,035 | 579 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Interest Rate Derivative Assets, at Fair Value | |||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | 0 | |
Previously Reported [Member] | |||
Assets, Fair Value Disclosure | 575,079 | ||
Interest Rate Derivative Assets, at Fair Value | 259 | ||
Previously Reported [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Assets, Fair Value Disclosure | $ 425,095 | ||
[1] | December 31, 2017 fair value balances reflect a correction of incorrectly reported year-end balances in Note 20 of the 2017 Form 10-K, which were presented as $575,079, $425,095, and $259, for total assets, total level 2 assets, and interest rate swap liabilities, respectively. |
Note 20 - Assets and Liabilit_4
Note 20 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Securities available-for-sale, fair value | $ 436,995 | $ 574,524 | |
Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, fair value | 436,995 | 574,524 | |
Interest Rate Derivative Assets, at Fair Value | 1,035 | 579 | |
Total assets | 438,030 | 575,103 | [1] |
Interest rate swaps | 543 | 283 | [1] |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, fair value | 149,984 | ||
Interest Rate Derivative Assets, at Fair Value | |||
Total assets | 149,984 | [1] | |
Interest rate swaps | [1] | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, fair value | 436,995 | 424,540 | |
Interest Rate Derivative Assets, at Fair Value | 1,035 | 579 | |
Total assets | 438,030 | 425,119 | [1] |
Interest rate swaps | 543 | 283 | [1] |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, fair value | |||
Interest Rate Derivative Assets, at Fair Value | |||
Total assets | 0 | 0 | |
Interest rate swaps | [1] | ||
US Government-sponsored Enterprises Debt Securities [Member] | |||
Securities available-for-sale, fair value | 261,039 | 213,844 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, fair value | 261,039 | 213,844 | |
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 | 261,039 | 213,844 | |
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 | 149,984 | ||
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, fair value | 149,984 | ||
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 | 146,277 | 161,507 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, fair value | 146,277 | 161,507 | |
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 | 146,277 | 161,507 | |
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 | 29,679 | 49,189 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, fair value | 29,679 | 49,189 | |
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 | 29,679 | 49,189 | |
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 | |||
[1] | December 31, 2017 fair value balances reflect a correction of incorrectly reported year-end balances in Note 20 of the 2017 Form 10-K, which were presented as $575,079, $425,095, and $259, for total assets, total level 2 assets, and interest rate swap liabilities, respectively. |
Note 20 - Assets and Liabilit_5
Note 20 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Non-recurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Impaired loans | $ 925 | $ 2,569 |
OREO | 1,018 | 2,640 |
Assets, Fair Value Disclosure | 1,943 | 5,209 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 925 | 2,569 |
OREO | 1,018 | 2,640 |
Assets, Fair Value Disclosure | 1,943 | 5,209 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | (514) | (121) |
OREO | (32) | (171) |
Total | $ (546) | $ (292) |
Note 20 - Assets and Liabilit_6
Note 20 - Assets and Liabilities Measured and Reported at Fair Value - Significant Unobservable Inputs (Details) - Fair Value, Inputs, Level 3 [Member] - Appraisal Discount Method [Member] | Dec. 31, 2018USD ($) |
Impaired Loans [Member] | |
Impaired loans - collateral dependent, fair value | $ 925,000 |
Impaired Loans [Member] | Weighted Average [Member] | |
Impaired loans - collateral dependent, weighted average of input | 0.099 |
Other Real Estate Owned [Member] | |
OREO - collateral dependent, fair value | $ 1,018 |
Other Real Estate Owned [Member] | Weighted Average [Member] | |
OREO - collateral dependent, weighted average of input | 0.122 |
Note 21 - Disclosure of Finan_3
Note 21 - Disclosure of Financial Instruments Not Reported at Fair Value - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and short-term investments | $ 198,939 | $ 139,248 |
Accrued interest receivable | 8,360 | 8,369 |
Accrued interest payable | 762 | 232 |
Reported Value Measurement [Member] | ||
Cash and short-term investments | 198,939 | 139,248 |
Mortgage loans held for sale | 1,675 | 2,964 |
Federal Home Loan Bank stock and other securities | 10,370 | 7,646 |
Loans, net | 2,522,637 | 2,384,685 |
Accrued interest receivable | 8,360 | 8,369 |
Deposits | 2,794,356 | 2,578,295 |
Securities sold under agreement to repurchase | 36,094 | 70,473 |
Federal funds purchased | 10,247 | 161,352 |
FHLB Advances | 48,177 | 49,458 |
Accrued interest payable | 762 | 232 |
Estimate of Fair Value Measurement [Member] | ||
Cash and short-term investments | 198,939 | 139,248 |
Mortgage loans held for sale | 1,743 | 2,964 |
Federal Home Loan Bank stock and other securities | 10,370 | 7,646 |
Loans, net | 2,508,587 | 2,338,464 |
Accrued interest receivable | 8,360 | 8,369 |
Deposits | 2,792,914 | 2,576,385 |
Securities sold under agreement to repurchase | 36,094 | 70,473 |
Federal funds purchased | 10,247 | 161,352 |
FHLB Advances | 47,227 | 48,642 |
Accrued interest payable | 762 | 232 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and short-term investments | 198,939 | 139,248 |
Mortgage loans held for sale | ||
Federal Home Loan Bank stock and other securities | ||
Loans, net | ||
Accrued interest receivable | 8,360 | 8,369 |
Deposits | ||
Securities sold under agreement to repurchase | ||
Federal funds purchased | ||
FHLB Advances | ||
Accrued interest payable | 762 | 232 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and short-term investments | ||
Mortgage loans held for sale | 1,743 | 2,964 |
Federal Home Loan Bank stock and other securities | 10,370 | 7,646 |
Loans, net | ||
Accrued interest receivable | ||
Deposits | ||
Securities sold under agreement to repurchase | 36,094 | 70,473 |
Federal funds purchased | 10,247 | 161,352 |
FHLB Advances | 47,227 | 48,642 |
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and short-term investments | ||
Mortgage loans held for sale | ||
Federal Home Loan Bank stock and other securities | ||
Loans, net | 2,508,587 | 2,338,464 |
Accrued interest receivable | ||
Deposits | 2,792,914 | 2,576,385 |
Securities sold under agreement to repurchase | ||
Federal funds purchased | ||
FHLB Advances | ||
Accrued interest payable |
Note 22 - Derivative Financia_3
Note 22 - Derivative Financial Instruments (Details Textual) - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2015 |
Derivative, Notional Amount | $ 30,000 | ||
Interest Rate Swap, Maturing December 6, 2021 [Member] | |||
Derivative, Notional Amount | 10,000 | $ 10,000 | |
Interest Rate Swap, Maturing December 6, 2020 [Member] | |||
Derivative, Notional Amount | $ 20,000 | $ 20,000 |
Note 22 - Derivative Financia_4
Note 22 - Derivative Financial Instruments - Outstanding Undesignated Interest Rate Swap Contracts (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Receiving [Member] | ||
Notional amount | $ 55,505 | $ 54,964 |
Weighted average maturity (Year) | 8 years | 8 years 255 days |
Fair value | $ 519 | $ 259 |
Paying [Member] | ||
Notional amount | $ 55,505 | $ 54,964 |
Weighted average maturity (Year) | 8 years | 8 years 255 days |
Fair value | $ 543 | $ 283 |
Note 22 - Derivative Financia_5
Note 22 - Derivative Financial Instruments - Derivative Position Designated As a Cash Flow Hedge (Details) - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Notional amount | $ 30,000 | |||
Pay fixed swap rate | 1.82% | |||
Fair value | $ 516 | $ 296 | ||
Interest Rate Swap, Maturing December 6, 2021 [Member] | ||||
Notional amount | $ 10,000 | $ 10,000 | ||
Receive (variable index) | US 3 Month LIBOR | |||
Pay fixed swap rate | 1.89% | |||
Fair value | $ 193 | 106 | ||
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 | $ 323 | $ 190 |
Note 23 - Regulatory Matters -
Note 23 - Regulatory Matters - Risk Based Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Total risk-based capital | |||
Total risk-based capital, actual amount | [1] | $ 396,019 | $ 359,866 |
Total risk-based capital, actual ratio | [1] | 13.91% | 13.52% |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 227,714 | $ 213,012 |
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 | $ 370,135 | $ 334,631 | |
Common Equity Tier 1 risk-based capital, actual ratio | 13.00% | 12.57% | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 128,089 | $ 119,820 | |
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 | |||
Tier 1 risk-based capital, actual amount | [1] | $ 370,135 | $ 334,631 |
Tier 1 risk-based capital, actual ratio | [1] | 13.00% | 12.57% |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 170,785 | $ 159,760 |
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] | $ 370,135 | $ 334,631 |
Leverage, actual ratio | [3] | 11.33% | 10.70% |
Leverage, minimum for adequately capitalized amount | [3] | $ 130,698 | $ 125,122 |
Leverage, minimum for adequately capitalized ratio | [3] | 4.00% | 4.00% |
Leverage, minimum for well capitalized amount | [2],[3] | ||
Leverage, minimum for well capitalized ratio | [2],[3] | ||
Subsidiaries [Member] | |||
Total risk-based capital | |||
Total risk-based capital, actual amount | [1] | $ 385,637 | $ 347,840 |
Total risk-based capital, actual ratio | [1] | 13.56% | 13.07% |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 227,462 | $ 212,891 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 8.00% | 8.00% |
Total risk-based capital, minimum for well capitalized amount | [1] | $ 284,327 | $ 266,114 |
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 | $ 359,753 | $ 322,605 | |
Common Equity Tier 1 risk-based capital, actual ratio | 12.65% | 12.12% | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 127,947 | $ 212,891 | |
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 | $ 184,813 | $ 172,974 | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | 6.50% | 6.50% | |
Tier 1 risk-based capital | |||
Tier 1 risk-based capital, actual amount | [1] | $ 359,753 | $ 322,605 |
Tier 1 risk-based capital, actual ratio | [1] | 12.65% | 12.12% |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 170,596 | $ 159,668 |
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] | $ 227,462 | $ 212,891 |
Tier 1 risk-based capital, minimum for well capitalized ratio | [1] | 8.00% | 8.00% |
Leverage | |||
Leverage, actual amount | [3] | $ 359,753 | $ 322,605 |
Leverage, actual ratio | [3] | 11.02% | 10.32% |
Leverage, minimum for adequately capitalized amount | [3] | $ 130,569 | $ 125,040 |
Leverage, minimum for adequately capitalized ratio | [3] | 4.00% | 4.00% |
Leverage, minimum for well capitalized amount | [3] | $ 163,211 | $ 156,300 |
Leverage, minimum for well capitalized ratio | [3] | 5.00% | 5.00% |
[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 24 - Yards Bancorp, Inc. (
Note 24 - Yards Bancorp, Inc. (Parent Company Only) - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||||
Cash on deposit with subsidiary bank | $ 51,892 | $ 41,982 | ||
Other assets | 46,911 | 48,506 | ||
Total assets | 3,302,924 | 3,239,646 | $ 3,039,481 | |
Liabilities and stockholders’ equity | ||||
Other liabilities | 46,788 | 46,192 | ||
Stockholders' Equity Attributable to Parent, Ending Balance | 366,500 | 333,644 | $ 313,872 | $ 286,519 |
Total liabilities and stockholders’ equity | 3,302,924 | 3,239,646 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash on deposit with subsidiary bank | 7,655 | 10,648 | ||
Investment in and receivable from subsidiaries | 356,118 | 321,617 | ||
Other assets | 3,147 | 1,521 | ||
Total assets | 366,920 | 333,786 | ||
Liabilities and stockholders’ equity | ||||
Other liabilities | 420 | 142 | ||
Stockholders' Equity Attributable to Parent, Ending Balance | 366,500 | 333,644 | ||
Total liabilities and stockholders’ equity | $ 366,920 | $ 333,786 |
Note 24 - Stock Yards Bancorp_3
Note 24 - Stock Yards Bancorp, Inc. (Parent Company Only) - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income before income taxes | $ 16,923 | $ 17,431 | $ 16,738 | $ 16,456 | $ 10,488 | $ 15,800 | $ 14,961 | $ 13,933 | $ 14,625 | $ 14,350 | $ 13,785 | $ 13,511 | $ 67,548 | $ 55,182 | $ 56,271 |
Income tax expense | 2,265 | 3,555 | 3,159 | 3,052 | 5,542 | 4,096 | 4,359 | 3,142 | 4,009 | 3,883 | 3,676 | 3,676 | 12,031 | 17,139 | 15,244 |
Net income | $ 14,658 | $ 13,876 | $ 13,579 | $ 13,404 | $ 4,946 | $ 11,704 | $ 10,602 | $ 10,791 | $ 10,616 | $ 10,467 | $ 10,109 | $ 9,835 | 55,517 | 38,043 | 41,027 |
Comprehensive Income | 52,811 | 37,612 | 38,896 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Income - dividends and interest from subsidiaries | 21,403 | 18,160 | 16,147 | ||||||||||||
Other income | 12 | 82 | 1 | ||||||||||||
Less expenses | 4,818 | 3,255 | 2,235 | ||||||||||||
Income before income taxes | 16,597 | 14,987 | 13,913 | ||||||||||||
Income tax expense | (1,713) | (1,985) | (987) | ||||||||||||
Income before equity in undistributed net income of subsidiary | 18,310 | 16,972 | 14,900 | ||||||||||||
Equity in undistributed net income of subsidiary | 37,207 | 21,071 | 26,127 | ||||||||||||
Net income | 55,517 | 38,043 | 41,027 | ||||||||||||
Comprehensive Income | $ 52,811 | $ 37,612 | $ 38,896 |
Note 24 - Stock Yards Bancorp_4
Note 24 - Stock Yards Bancorp, Inc. (Parent Company Only) - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating activities | |||||||||||||||
Net income | $ 14,658 | $ 13,876 | $ 13,579 | $ 13,404 | $ 4,946 | $ 11,704 | $ 10,602 | $ 10,791 | $ 10,616 | $ 10,467 | $ 10,109 | $ 9,835 | $ 55,517 | $ 38,043 | $ 41,027 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
Loss on the disposal of premises and equipment | 56 | 202 | |||||||||||||
Stock compensation expense | 4,027 | 2,892 | 2,473 | ||||||||||||
Excess tax benefits from stock-based compensation arrangements | (549) | (1,463) | (1,705) | ||||||||||||
Depreciation, amortization and accretion, net | 5,782 | 13,640 | 11,142 | ||||||||||||
Proceeds from liquidation of private investment fund | (113) | (92) | (588) | ||||||||||||
Net cash provided by operating activities | 65,889 | 53,676 | 63,262 | ||||||||||||
Investing activities | |||||||||||||||
Proceeds from sale of fixed assets | 230 | 66 | |||||||||||||
Net cash provided by investing activities | (11,570) | (114,705) | (289,572) | ||||||||||||
Financing activities | |||||||||||||||
Common stock repurchases | (2,004) | (2,389) | (1,918) | ||||||||||||
Excess tax benefit from stock-based compensation arrangements | 1,705 | ||||||||||||||
Proceeds (Used for) and Received from Settlement of Stock Awards | (154) | (216) | |||||||||||||
Cash dividends paid | (21,766) | (18,077) | (16,093) | ||||||||||||
Net cash used in financing activities | 5,372 | 152,304 | 170,450 | ||||||||||||
Net increase (decrease) in cash | 59,691 | 91,275 | (55,860) | ||||||||||||
Cash and cash equivalents at beginning of period | 139,248 | 47,973 | 103,833 | 139,248 | 47,973 | 103,833 | |||||||||
Cash and cash equivalents at end of period | 198,939 | 139,248 | 47,973 | 198,939 | 139,248 | 47,973 | |||||||||
Parent Company [Member] | |||||||||||||||
Operating activities | |||||||||||||||
Net income | 55,517 | 38,043 | 41,027 | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
Equity in undistributed net income of subsidiaries | (37,207) | (21,071) | (26,127) | ||||||||||||
Loss on the disposal of premises and equipment | (10) | ||||||||||||||
Stock compensation expense | 4,027 | 2,892 | 2,473 | ||||||||||||
Excess tax benefits from stock-based compensation arrangements | (549) | (1,463) | (1,705) | ||||||||||||
Recover of impairment loss on other assets held for investment | (588) | ||||||||||||||
Depreciation, amortization and accretion, net | 4 | 10 | |||||||||||||
Proceeds from liquidation of private investment fund | (81) | ||||||||||||||
Decrease (increase) in other assets | (1,080) | 5,943 | (990) | ||||||||||||
Increase in other liabilities | 220 | 10 | 11 | ||||||||||||
Net cash provided by operating activities | 20,918 | 24,277 | 14,111 | ||||||||||||
Investing activities | |||||||||||||||
Proceeds from sale of other assets held for investment | 1,108 | ||||||||||||||
Proceeds from sale of fixed assets | 13 | ||||||||||||||
Proceeds from liquidation of private investment fund | 81 | ||||||||||||||
Net cash provided by investing activities | 13 | 81 | 1,108 | ||||||||||||
Financing activities | |||||||||||||||
Common stock repurchases | (2,004) | (2,389) | 2,337 | ||||||||||||
Excess tax benefit from stock-based compensation arrangements | 1,705 | ||||||||||||||
Proceeds (Used for) and Received from Settlement of Stock Awards | (154) | (216) | (1,918) | ||||||||||||
Cash dividends paid | (21,766) | (18,077) | (16,093) | ||||||||||||
Net cash used in financing activities | (23,924) | (20,682) | (13,969) | ||||||||||||
Net increase (decrease) in cash | (2,993) | 3,676 | 1,250 | ||||||||||||
Cash and cash equivalents at beginning of period | $ 10,648 | $ 6,972 | $ 5,722 | 10,648 | 6,972 | 5,722 | |||||||||
Cash and cash equivalents at end of period | $ 7,655 | $ 10,648 | $ 6,972 | $ 7,655 | $ 10,648 | $ 6,972 |
Note 25 - Segments (Details Tex
Note 25 - Segments (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Goodwill, Ending Balance | $ 682,000 | $ 682,000 |
Commercial Banking [Member] | Operating Segments [Member] | ||
Goodwill, Ending Balance | $ 682,000 |
Note 25 - Segments - Financial
Note 25 - Segments - Financial Information by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net interest income | $ 29,912 | $ 28,521 | $ 28,674 | $ 27,309 | $ 27,029 | $ 26,173 | $ 25,245 | $ 25,206 | $ 25,079 | $ 24,762 | $ 23,957 | $ 23,491 | $ 114,416 | $ 103,653 | $ 97,289 |
Provision | 735 | 1,235 | 735 | 900 | 150 | 600 | 900 | 500 | 1,250 | 750 | 500 | 2,705 | 2,550 | 3,000 | |
Non-interest income | 23,810 | 23,994 | 23,765 | ||||||||||||
All other non-interest income | 23,810 | 23,994 | 23,765 | ||||||||||||
Non-interest expense | 24,565 | 21,781 | 22,136 | 21,027 | 27,048 | 21,168 | 21,209 | 20,995 | 21,119 | 20,364 | 20,051 | 19,404 | 89,509 | 90,420 | 80,938 |
Income before income taxes | 16,923 | 17,431 | 16,738 | 16,456 | 10,488 | 15,800 | 14,961 | 13,933 | 14,625 | 14,350 | 13,785 | 13,511 | 67,548 | 55,182 | 56,271 |
Income tax expense | 2,265 | 3,555 | 3,159 | 3,052 | 5,542 | 4,096 | 4,359 | 3,142 | 4,009 | 3,883 | 3,676 | 3,676 | 12,031 | 17,139 | 15,244 |
Net income | 14,658 | $ 13,876 | $ 13,579 | $ 13,404 | 4,946 | $ 11,704 | $ 10,602 | $ 10,791 | 10,616 | $ 10,467 | $ 10,109 | $ 9,835 | 55,517 | 38,043 | 41,027 |
Segment assets | 3,302,924 | 3,239,646 | 3,039,481 | 3,302,924 | 3,239,646 | 3,039,481 | |||||||||
Fiduciary and Trust [Member] | |||||||||||||||
Non-interest income | 21,536 | 20,505 | 19,155 | ||||||||||||
Commercial Banking [Member] | |||||||||||||||
Net interest income | 114,161 | 103,352 | 97,021 | ||||||||||||
Provision | 2,705 | 2,550 | 3,000 | ||||||||||||
All other non-interest income | 23,810 | 23,994 | 23,765 | ||||||||||||
Non-interest expense | 76,963 | 78,181 | 69,648 | ||||||||||||
Income before income taxes | 58,303 | 46,615 | 48,138 | ||||||||||||
Income tax expense | 10,025 | 14,080 | 12,340 | ||||||||||||
Net income | 48,278 | 32,535 | 35,798 | ||||||||||||
Segment assets | 3,301,108 | 3,237,656 | 3,037,394 | 3,301,108 | 3,237,656 | 3,037,394 | |||||||||
Commercial Banking [Member] | Fiduciary and Trust [Member] | |||||||||||||||
Non-interest income | |||||||||||||||
Investment Management and Trust [Member] | |||||||||||||||
Net interest income | 255 | 301 | 268 | ||||||||||||
Provision | |||||||||||||||
All other non-interest income | |||||||||||||||
Non-interest expense | 12,546 | 12,239 | 11,290 | ||||||||||||
Income before income taxes | 9,245 | 8,567 | 8,133 | ||||||||||||
Income tax expense | 2,006 | 3,059 | 2,904 | ||||||||||||
Net income | 7,239 | 5,508 | 5,229 | ||||||||||||
Segment assets | $ 1,816 | $ 1,990 | $ 2,087 | 1,816 | 1,990 | 2,087 | |||||||||
Investment Management and Trust [Member] | Fiduciary and Trust [Member] | |||||||||||||||
Non-interest income | $ 21,536 | $ 20,505 | $ 19,155 |
Note 26 - Quarterly Operating_3
Note 26 - Quarterly Operating Results (Unaudited) - Quarterly Operating Results (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest income | $ 35,004 | $ 33,021 | $ 32,004 | $ 29,744 | $ 29,098 | $ 28,120 | $ 27,026 | $ 26,655 | $ 26,372 | $ 25,944 | $ 25,169 | $ 24,722 | $ 129,773 | $ 110,899 | $ 102,207 |
Interest expense | 5,092 | 4,500 | 3,330 | 2,435 | 2,069 | 1,947 | 1,781 | 1,449 | 1,293 | 1,182 | 1,212 | 1,231 | 15,357 | 7,246 | 4,918 |
Net interest income | 29,912 | 28,521 | 28,674 | 27,309 | 27,029 | 26,173 | 25,245 | 25,206 | 25,079 | 24,762 | 23,957 | 23,491 | 114,416 | 103,653 | 97,289 |
Provision | 735 | 1,235 | 735 | 900 | 150 | 600 | 900 | 500 | 1,250 | 750 | 500 | 2,705 | 2,550 | 3,000 | |
Net interest income after provision | 29,912 | 27,786 | 27,439 | 26,574 | 26,129 | 26,023 | 24,645 | 24,306 | 24,579 | 23,512 | 23,207 | 22,991 | 111,711 | 101,103 | 94,289 |
Non-interest income | 11,576 | 11,426 | 11,435 | 10,909 | 11,407 | 10,945 | 11,525 | 10,622 | 11,165 | 11,202 | 10,629 | 9,924 | 45,346 | 44,499 | 42,920 |
Non-interest expenses | 24,565 | 21,781 | 22,136 | 21,027 | 27,048 | 21,168 | 21,209 | 20,995 | 21,119 | 20,364 | 20,051 | 19,404 | 89,509 | 90,420 | 80,938 |
Income before income taxes | 16,923 | 17,431 | 16,738 | 16,456 | 10,488 | 15,800 | 14,961 | 13,933 | 14,625 | 14,350 | 13,785 | 13,511 | 67,548 | 55,182 | 56,271 |
Income tax expense | 2,265 | 3,555 | 3,159 | 3,052 | 5,542 | 4,096 | 4,359 | 3,142 | 4,009 | 3,883 | 3,676 | 3,676 | 12,031 | 17,139 | 15,244 |
Net income | $ 14,658 | $ 13,876 | $ 13,579 | $ 13,404 | $ 4,946 | $ 11,704 | $ 10,602 | $ 10,791 | $ 10,616 | $ 10,467 | $ 10,109 | $ 9,835 | $ 55,517 | $ 38,043 | $ 41,027 |
Basic earnings per share (in dollars per share) | $ 0.65 | $ 0.61 | $ 0.60 | $ 0.59 | $ 0.22 | $ 0.52 | $ 0.47 | $ 0.48 | $ 0.47 | $ 0.47 | $ 0.45 | $ 0.44 | $ 2.45 | $ 1.69 | $ 1.84 |
Diluted earnings per share (in dollars per share) | $ 0.64 | $ 0.60 | $ 0.59 | $ 0.58 | $ 0.22 | $ 0.51 | $ 0.46 | $ 0.47 | $ 0.46 | $ 0.46 | $ 0.45 | $ 0.44 | $ 2.42 | $ 1.66 | $ 1.80 |
Note 27 - Revenue From Contra_3
Note 27 - Revenue From Contracts With Customers (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 23,810 | $ 23,994 | $ 23,765 |
Contract with Customer, Asset, Net, Total | 0 | ||
Contract with Customer, Liability, Total | 0 | ||
Contract with Customer, Liability, Revenue Recognized | 0 | ||
Safety Box Deposit Fees [Member] | Other Income [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 177 | 165 | 168 |
Fiduciary and Trust [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 21,536 | 20,505 | $ 19,155 |
Accrued Fees and Other Revenue Receivable | $ 1,900 | $ 2,200 |
Note 27 - Revenue From Contra_4
Note 27 - Revenue From Contracts With Customers - Revenue by Operating Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Non-interest income | $ 23,810 | $ 23,994 | $ 23,765 | |||||||||||||
Total non-interest income | $ 11,576 | $ 11,426 | $ 11,435 | $ 10,909 | $ 11,407 | $ 10,945 | $ 11,525 | $ 10,622 | $ 11,165 | $ 11,202 | $ 10,629 | $ 9,924 | 45,346 | 44,499 | 42,920 | |
Fiduciary and Trust [Member] | ||||||||||||||||
Non-interest income | 21,536 | 20,505 | 19,155 | |||||||||||||
Deposit Account [Member] | ||||||||||||||||
Non-interest income | 5,759 | 6,172 | 6,037 | |||||||||||||
Credit and Debit Card [Member] | ||||||||||||||||
Non-interest income | 6,769 | 5,979 | 5,655 | |||||||||||||
Treasury Management [Member] | ||||||||||||||||
Non-interest income | 4,571 | 4,297 | 3,867 | |||||||||||||
Mortgage Banking [Member] | ||||||||||||||||
Non-interest income | [1] | 2,568 | 3,221 | 3,897 | ||||||||||||
Sales of Securities Available for Sale [Member] | ||||||||||||||||
Non-interest income | [1] | (232) | ||||||||||||||
Product Sales Commissions and Fees [Member] | ||||||||||||||||
Non-interest income | 1,677 | 1,629 | 1,563 | |||||||||||||
Bank Owned Life Insurance [Member] | ||||||||||||||||
Non-interest income | [1] | 1,129 | 1,159 | 871 | ||||||||||||
Product and Service, Other [Member] | ||||||||||||||||
Non-interest income | [2] | $ 1,337 | $ 1,769 | $ 1,875 | ||||||||||||
[1] | Not within scope of ASC 606 | |||||||||||||||
[2] | Includes safe box deposit fees of $177 thousand, $165 thousand, and $168 thousand included within the scope of ASC 606 in 2018, 2017, and 2016, respectively |